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Living Within Your Means: W.E.A.L.T.H. Mastery Class | Build Wealth w/ Lynn Richardson: Ep. 5
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- เผยแพร่เมื่อ 17 ส.ค. 2024
- Welcome to Episode 5 of Build Wealth with Lynn Richardson: Living Within Your Means, W.E.A.L.T.H. Mastery Class 💵
I’ll be walking you through my top tips for living within your means from 10/10/30/50 rule to eliminating debt.
Get Help: ASKLYNN.ORG
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“Talking about it was on sale…that was not on sale for you” 😅🤣
“Paycheck to Monday”….Whew, been there done that🙋🏾♂️. That was the old me, but the new me can still use these tips and further build upon my progress. 2024 = Being broke no more!
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😊😮😢ullt😢😮😊😮😮😮😮
😢t😊😊😢😊😮😊😮😊😮😊
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too.🙏🙏🙏
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful Inves tors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..Inves tment is the key that can secure your family future.
Thank goodness you brought this up! Truly, Inves ting has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this lately in life. Currently I earn as much as 10 grands weekly and this has improved my financial life
Wow, congratulations on your impressive Inves tment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making Inves tment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of inves ting? Thanks for sharing your story!
Obviously I don't really tra de myself, I have a good financial ad visor who guide de me.
Do you mind sharing infor on the ad viser who assisted you? I'm 39 now and would love to grow my port folio and plan my retire ment
6:45 "You don’t need any new clothes if you aren't going anywhere." Facts😂! Also, you look beautiful & I love the music & environment- very calming 💐🦋
Hello ma'am thanks for sharing awesome tips, yes for me I think it's time everyone should learn to Live below their means" adjust their lifestyle, be frugal, budget, save and in vest. This helped me out as a 6 figure earner. I've grown over half a million in retirement savings with this method:)
I definitely agree with you! Yes I know it takes consistency to be successful in life it's really so hilarious, Sadly there's actually people living paycheck to paycheck
Great inspo you said it all right there!
Sonia TX , 34. I Just started at my six figure job after being in and out of the poverty line. I really hope I don't end up like this. I'm scared really scared!!!
Don't panic, start out easy, don't buy things you don't need, budget every money, always save a portion of your pay atleast 5%, In vest from your pay check; it grows and helps you accumulate wealth easily:)
Thanks, I started saving a bit already, how do I go about inve sting? I want to try all my options:)
People like you are the best.I have reached a point in life where I nolonger attend events where i'm only invited 2-5 days before yet the owner has been planning for 3 months.I won't spend money on a new dress just to please someone at a 3 hour event.
Yes! Remember- stop trying to keep up with Joneses, they’re probably BROKE TOO!💵
I have had to learn the hard way too. Who are your real friends and who's an associates.
Black women are winning with their natural hair
I achieved being debt free in 2022 by using the snowball effect. I felt amazing! But now I have fallen down and planning to rise even greater than last year. I did all of the things you mentioned in regard to gaining that second job and adding an extra $150 on my debt. I’m telling you, it’s so freeing when you learn to solve your problems. I’m moving up this last quarter of the year with the intent on starting my own business and by 2024 I believe and declare that I shall be on top of my earnings and debt again. Cheers 🥂 to everyone on their financial journey 🎉 this to shall pass and remember to be proactive.
so proud of you!!!
Wow! This is so specific, I believe that you will reach your goals🎉. Now l too, am further encouraged!
I still use my landline phone. I am keeping it. I use a pre-paid cell phone and pay only $40 per month for it. I am in the $2 income challenge. That $2700 a year can go into my daughter's savings account. $2700 times 18 years is $48,600 when she graduates from high school!!!!!
🤙🏾🤙🏾💪🏾💫✨️
You may want to consider placing it into a 520 College Savings Account. The result will be much greater!
Thank you mam. Somw of us were raised by oppressed and jealous parents who strategically abused us in a way to make us fear success. I get so much anxiety just from opening up my laptop. Thank God for people like you who are changing my life for the better. 👏🏾👏🏾👏🏾🤙🏾🤙🏾🏆🏆🏆
My parents were the same
10-10-30-50 rule is the best financial advice I’ve ever received.
We think as Christians we’re suppose to give freely, and to those on the receiving end think folks are obligated to do so. I believe we are to give to those who are in need and educate ourselves and others. That is exactly what you’re doing Lynn which is far more valuable.
This is just very very very very very very timely for me. Earlier this year I was embarrassed severally by creditors. My friends and families were contacted because I owed. At some point, some of these loan companies tried to defraud my contacts. thank God I've learnt to be content and not be the savior of many. I had to call one lady I promised to help and tell her I'm unable to because I had to take care of my debts and that I am not fit to help out yet. Having a good heart is good but doing it at your own detriment isn't. It's a hard lesson but I'm better now and at peace because I won't have to be worried and constantly thinking of which debtor will call and how to convince them. In fact I even eat better now that I'm able to manage my finances. It's really peaceful.
I will consume all your videos.
Thank you for this.
🥰
I was taking a shower and I asked God to help me save. Then I check TH-cam and your video popped up. Thank you for this! I've had to deal with financial abuse from my Father. He wanted me to always depend on him for anything. Now that I've broken free from his household I have to learn more about money. He's an accountant too but never wanted to teach me about money.
This is exactly what I needed and was right on time. Thanks again!
I love that you applied you tips with biblical basis😊
i was really good with my finances during my 20s and had excellent credit, then when i turned 30 in 2020, (and maybe the pandemic had an influence on this too( i started spending a lot because i felt like i deserved it. i got my downtown high rise, new german car, went crazy with my credit cards and ended up broke with bad credit and very unhappy. i just let the apartment go and got a better job. i feel good and i have a plan now. i’ll be debt free within a year. it’s been a costly quarter life crisis
I hv been giving freely as a Christian and taking care of homeless animals when i was employed .When I retired compulsory, takers felt that it is an entitlment to receive part of my retirement benefits. I refused to do so and only take care of homeless people /animals. Made some enemies.
Thank you , I’m going to start implementing this advice . I make under 30,000 a year so glad you mentioned saving for low income. ❤ Love your videos.
Let's go!! You can do it
I really believe there is a reason your video just popped up on my screen as soon as I switched on the TV. Wow, I feel like a blessing just landed on me now, seriously. I will practice every detail on this video and I know God is with me.
Thank you ma'am
Amen!!! That was me for most of my life! I finally got it. Now, no more debt! Not where I want to be BUT, happily on my way!
This lady just blessed my soul after so many years of doing it wrong.
Some may think this is what we should do as if it’s common sense but I beg the difference this information is good because it’s so easy to not be intentional about getting and staying out of debt and be apart of the peoples that don’t live, burden down with financial crisis I love what Lynn talks about, being able to go back in time and remember how the basics have given her the rewards today I love it, I’m 8 years into a hundred thousand dollar home loan and today I owe 30,000 my goal is 1 year left you know how I do it I’ve paid double each month that’s my strategy no matter what’s going on that month, even dropping money in a bucket throughout the month I get it out my hand, emergency doesn’t feel like a emergency when you’ve prepared for it i has an air condition,a refrigerator a bathroom sink leak and a roof leak all just in 2023 happen but I had my bucket and my needs got met not to mention my god blesses the very thing that he says is wonderful which is me, just wanted to share that with you
Amen
Saying "that was not on sale for you!" Really smacked me in the face
Omg I buy all kinds of crap just because it's on sale. I will justify it a million times over 😅😅
🤣
Same here. 😮😂
That is my weakness, buying something simply because is on sale..not on sale for me😢
I love following you and I appreciate all your advice. My issue is I’m not making enough money. I may need to get a part-time job temporarily just to pay off my credit cards and get a little savings. But it is my goal to start saving and implementing a lot of your methods.
Hello ma’am I’m a young adult learning so much from you❤
Thank you so much for this content
Yes. I was doing it too
Giving away money to loved ones justifying that I am helping because I am a Christian. But when payday comes and bill comes, I am alone in paying them. I was teaching my loved ones to depend on me instead of teaching them how to fish.
Give responsibly.🥰shows you are a good steward
Dr. Lynn, I love everything about how you presented this information and this new platform of Wisdom/Financial Gem!! You are truly led by the Lord. As one of your Diamond Students you have impacted my life so Richly!! God is yet Blessing me through your Ministry. Know that you are loved!!
Wow, thank you!
Strategy that includes Focus! Yesss. Keep teaching us, we are listening and implementing.
This lady is a blessing. When you've clothes in your closet with the tags still own them, you're probably shopping too much.
God absolutely put you in my path this morning! Praise God and thank you for your expertise and knowledge ❤️
I love your voice and the way you teach. ❤
Hey Auntie! I had to start Living within My Privileges in The Kingdom, instead of within My Means.... I AM now Living within My Privileges, goes beyond Money and Credit Auntie! I Love Your Instructions, so I definitely use a lot of what You taught Me. Just made a few Adjustments, so I can Do This Kingdom. ❤❤❤❤
Thanks for sharing these nuggets. Living within my means in this season is window shopping, discount store shopping and not spending when I don't have, charity. Been broke, busted and disgusted and I pray I never see that season EVA again. Thanks again.
You nailed it ! Love this. Looked in the mirror & saw myself ! 💘
Jesus is coming be ready ❤❤❤❤❤❤
Great commentary! Your hair looks lovely.
This was an excellent reminder of what I need to do since I lost an income source. Thank you so much for this valuable information. I find your tutorials very helpful! peace and blessings to you.
Thank you. It took me awhile living through two recessions, my public funded job lost it's funding. This specific setback, almost caused me to be homeless, it was God's grace keeping me. But, I am glad to say for years, I have implemented these suggestions. I have paid in full 2 student loans, out of my total of 3. I may quality for a reduction soon under the Biden plan. Still waiting; Now I am retired from the school system, it's important for me to remain within my budget. Saving small amounts monthly does add up, it's amazing. My mother and grandmother taught frugality, and minimalism before they became popular. Thank you for your "old fashioned", "old school" wisdom. Very good tips of excellence.
🤔 I heard that back in the old days the savings rule was simple: your only suppose to spend 10% of what you make! So I can’t figure out why a person would keep 50% for bills and give themselves 10% of their own hard earned money??? We gotta improve our overall understanding of money! Cool video but the percentage equation I disagree with. 🙏🏿
Practical and To The Point! Thanks!
Great video!! I have been watching her since 2021. Great information! Now DebtFree!!!
woohoo!!
I listened to this video like 2 times! Me and the hubs been saying this but we honestly didn't know what that looked like or how to write in on paper...thank you!!!!
Absolutely an informative video! Thank you so much!!!!!!!!!
Thank you so much you are the only one you have given realistic options
Black excellence is power❤.
I miss hearing your wisdom I have looked over previous month and this month I need to start your rule as I work off paying debt to build my emergency fun up
let's go!!!
Listening..
I started doing this by moving to a more affordable apt. You explained it much clearer, I'm useing your method from today on!🙏
THANK YOU!❤
This is awesome, plainly and understandably stated. Blessings!
Thanks for this video, Miss Lyn. Wise words. Even your hairstyle is inspiring me. Very beautiful.
Thank you so much!
Thank you so much; for the advice you are giving us to learn how to be savage with our money. I am using the 10 - 10 - 30 - 50 formula you suggested, it have really help me. Thanks again for the job you are doing. Be bless and safe.
You look amazing Mrs Lynn and I noticed the quality of your videos. I’m doing all u can to live on my means ❤
Thank you so very much Ma’am, I appreciate it!!!
Great advice as always and thank you ❤
Thank you for this advice GOD Bless
Dear Lynn, you gave great advice and you look great. Thanks.
I’m so tired of being poor Thk you for the info I’m doing my best to apply myself
Thank you.
Hi Dr Lynn! I wanted to thank you for sharing your wisdom. Peace, Love and Happiness to you and yours ❤.
So good! I took notes! Will continue to tune in!. You're doing God's work!
I like the message, you like that aunty we all need to set us straight. Thanks so much ma'am, i feel like most of us know these things, it's just that constant reminder to cause a realignment in our minds to get back on track.
I love this whole video! Thank you for the tips!
Thank you so kindly ❤
This popped up on my feed. I am not disappointed. This was great advice.
Great video, thank you for sharing.
Thank You so much. I'm at a point I have to do something.
Brilliant, all very true and most of which I’ve learned the hard way along my journey. Thank you for sharing! ❤️🎯👊🏾
Have learnt alot
Thank you Dr
Thank you! I will share with my youth😊
Thank you Lynn. ❤🎉
Truly purpose makes one disciplined.
Ma’am, I truly appreciate the time, effort, and information you provided. However, right now today, INFLATION is insane….
I really like all of your content
Keep us educated please!
And THANK YOU
Thank you so much
A lot us of cant afford basic needs. Thanks to Inflation
I so appreciate your advice I have been struggling for quite some time now
Thank You MDM,it is very enlightening.
God Bless
Amen good advice I’m going to give it a try🙏🏼😇👍👌💯
Taste of champagne on a beer budget. My Dad would say. Thanks for the video!
Love the comment "that was not on sale for you!"😂
God bless you.
Phenomenal Advice 🎉
The Wisdom of GOD 👑
Amazing thank you 🇿🇦🙏
Thank you so much Ma’am for this. God bless you for such wisdom❤❤❤❤
THANK YOU FOR ALL THE INFORMATION.
Thank you
what if you already bought a car and paying car notes. Should you file for bankruptcy, give it back to the leasing company, or continue to pay on it.
That was an awesome saving tip I’m gonna try that thank you
LIVE BELOW YOUR MEANS
Good info 👍🏼
You are amazing and a massive inspiration. Thank you for this, I've subscribed!
Thank you. I need that. God bless you.
Hi Lynn love your videos. Where do u put like car repairs
She sound like she can fry some crispy chicken with two sides. Great advice
You are too greedy.
@@Observer100-cn7gv 🤣😁😂
😄
Glad I came across your channel
Amen.
Thank you! Im so tired of living paycheck to monday
Thank you for making this video ❤
One of the best ways to pay off debt in the states is to live in a car on bureau of land management etc which is a big TH-cam trend eg vanlife and living in a car and heres why
If you own a car and you also pay either rent or a mortgage as well and you are in debt etc by choosing to living in a car you can then spend the whole amount that you used to spend paying for accommodation eg rent or mortgage incl all accommodation bills etc and use all of that money to pay off your debt and you should be able to get out of debt much faster
All you then need to do is learn how to live in a car and youtube channel
cheap rv living
Shows people how to downsize and declutter and live in a car or van with no energy bills etc
Use that gym membership! You’ll save yourself THOUSANDS over your lifetime on prescriptions and doctor bills due to bad health!
This was awesome. Thank you