How I Saved Over $15,000 on a Low Income | Money Saving Tips for Beginners
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- เผยแพร่เมื่อ 15 ต.ค. 2024
- Hey Budget Buddies! Thanks for stopping by. I’m excited to share my progress with you. In this video I talk about how to save money on a low income. Now I bring in less than $2,000 a month, but I’ve been able to save up thousands of dollars. I’ll discuss some easy tips to save money fast and build an emergency fund that anyone can do. This is what helped me. ❤️
Leave a comment to let me know you were here, if you’d like. I'd love to hear from you. Let me know what’s helping you to save money or what struggles you’re desking with. I respond to all comments.
#savingmoney #lowincome #money
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Hey Buddies!! I’m super pumped that my emergency fund is almost complete. I can’t even believe what I’ve been able to do. Thank you so much for watching & for all your support. Y’all are priceless!! 🤍
Wow! Congratulations! 🎉 it can be daunting to save 3-6 months of expenses!
Thank you!!! 🎉🙌🏾 Yea, that is the TRUTH! It seems like each time I’d save up at least $6,000, I’d get hit with a large unexpected expense 😅
@@debt2none but you could cover it and start immediately rebuilding your fund, it’s hard to let the money go after working so hard to save it but the rewards are worth while!
@@debt2nonei agree with the other person, savings is a goal. If things come about, you have the cash to cover it. You save $10,000, had to spend $2,000, its better than going to a payday loan at 1000%.
But that is what your emergency fund is for!! Then when you are back on your feet, you restart your savings set-aside again!!
Coming from a family who was not financially literate... still is.. learning about high yields savings account changed my life. Wished I knew sooner. Can't change the past but I can change my future.
I feel the same way. My parents were not financially literate and they made many bad decisions. But at least we can change our future 🤗 I totally agree
Me too
I love this. I come from the same and i just started learning because I refuse to be apart of a unhealthy generational cycle
Same here! I was literally talking about this with someone today!
Hey what is a good high yield savings account? I have one with bmo. Over 5% but it's only online so that annoys me.
I always pay myself first. Wether you save $25.00 every two weeks or $1000 every two weeks, you have to start.
Agreed! 💯
So much great advice!
@erinthornley9165 💗💗💗
Thank you for these. I think I’m going to start with no extra spending. I’ve fallen into this weird mentality of “I’m broke anyway might as well enjoy myself”… which is really sad and unproductive. Im sad cuz I’m broke but then I buy things to try and cheer myself up and end up more broke.
I fully understand that mentality. I’ve been there, many times. Small changes will add up to big moves in time and you’ll see the progress. No extra spending is a great start! 🙌🏾
I can relate to this so much, then hear comes the CC debt. Also think I’m very much an emotional spender.
@@TinaAimie me too. When I’m sad or bored I will shop. And it’s almost the action of doing the shopping is more pleasing than the items themself. It’s such a bad habit
Same here my friend…the only way to get forward is to find a investment. So you have money flowing in. Yea you have to spend some money but your income will increase.
Search up some videos on money management & investing ,scaling a business,managing a business and entrepreneur biographies. ❤
something I did was budgeting and putting a small budget for snacks, like, I can treat myself but only this much. and usually at the end of the month if i have any left I treat myself to maybe an icecream or a juice bag and then yeet the rest into my savings account and empty my bank account for next month.
I did just that! Cancelled some subscriptions and also changed internet providers. I went from $170 a month to
Only $40 a month!!!
Wow, look at you with the savings!! That’s huge!!! Great job my friend! 🎉🙌🏾👏🏾
@@debt2none thank you!! 💕
That's awesome!
I called my car insurance company and they dropped my bill $20 month ... 12x20= $240 a year savings! Yay!! Time to call mint!!
@@lyndi9082how? What u tell them? Lol
I’ve raised 5 kids on as low as 50k for quite a few years(we make more now) and the best advice I would give to others on a limited income is to stay out of debt. I know it’s extremely hard when you’re scraping by but it can be an absolute life saver not having any extra income constantly going out to debt
That is amazing!! It can be done 🙌🏾 Avoiding debt as much as possible is definitely the way to go. 💯
As a 68-year-old single woman it is so refreshing to see a young person tackle her financial situation with the tenacity that you did. I employed everything you spoke of over the years and now can feel relatively comfortable with a paid off house, car, no loans or credit card death debt. Another thing I did that helped tremendously was that when I had a mortgage I kept a separate checking account specifically for the house to cover the mortgage, taxes, insurance and maintenance, which was at a bank that was inconvenient for me to get to, had very short hours and I never got a debit card for it. In that way I could be diligent at never touching that money; basically the only time I went to that bank was to make a deposit every two weeks, when I got paid, and in person. Congrats on seeing debt for what it is: a retardant to your financial progress.
This is so encouraging to hear. Thank you for sharing! Your diligence has really paid off. I want to be in a similar position as you when I’m in my 60s. That was a fantastic idea to keep that checking account for housing costs only.
That’s amazing discipline and great advice! Well done lady @deerhaven3350
I appreciate videos like this, so many others start with “save $15,000 in a year” and the video states to simply save $300 a week and I’m like……. Ok i see, this video is for people who have money to save but don’t know what to do with it lol
Thank you!! Yea, I get it. Those videos that tell us to just save hundreds of dollars every week leave me deflated.
@@debt2none what a joke, people can't save what they don't have.
Those "extra paycheck" months are a godsend to me. At the beginning of the year I determine when I will be getting those pays and plan accordingly. Also I switch car insurance companies at the drop of a hat. I am loyal to no insurance company, only the one with the best rates for my needs. Great video!
Yeeesssss!!! 🙌🏾 I love your thinking -Loyal to no insurance company except the one with the best rates. For sure!! Very smart to budget for those extra paychecks at the beginning of the year.
When I lived in The States, my husband and I got paid twice a month 10 months out of the year, and three times in a month 2 times out of a year. We always saved those extra checks since we already built our budget around our 2 paychecks a month.
I bought much needed furniture with mine not too long ago
@@TheRonskins AWESOME!! True dedication to your budget!!
I paid off my car last year in March! My credit card balance is $400 and some change. My next step is to pay that off and then the rest of student loans.❤
Ohhhh wow!!! Well done!!! I cannot wait until my credit card balance is that low. You’re doing a great job!! 🤗❤️
My kids know not to waste water also, because it is just gettig ridiculously higher. This is my 1st year budgeting at 35 years never new i could do that!! God show me the way by listening to people like you! Thank you for sharing your journey!
That’s great that your kids are not wasteful!! 👏🏾 I love to hear that. I started budgeting late myself, over 40 years old when I finally got on the ball. I’m so happy that you started 🎉 And I appreciate having you here with me as well. Thank you!! 🤗
“you dont have to spend it just because you have it.” Thanks for that tip! My goal is to use the “magic months” to start emergency savings but it’s hard. Idk why. 🤦🏾♀️
Using the magic months is perfect! But it is really hard. I totally get it. You can do it!! 🙌🏾👏🏾
I’m honestly thinking going no spending and seeing how much I can save in several months. I really like that idea
Oh yea!! You totally should. 🙌🏾 Start with one month and see if you can handle more as you go. I’m going to do a no spend January. I’ve gotten a bit spendy lately 🤣
Its been several months now. How you do?
I thought about no savings for things like unnecessary cloths, gadgets, and fragrances but I still want to enjoy luxuries like massaging and hobbies.
I've used a lot of these tips and saved about 10k a year on a low/moderate income! I've done no spend weeks, but not brave enough to try a no spend month lol Regarding bill payments, the billing/payment cycle for my water bill is weird, so I set up bill pay via my banking app, and they send out a check, so my bill is typically 40 to 45/mo and so a $50 check goes out every month, and every few months I can just skip a month due to having enough credit. The only bill that I pay manually is my mortgage and that's due to having it advanced a month. Which is another way to have extra money on hand. It's my biggest bill, and I never feel pressured to make a payment by the 1st or the 15th, and worst case scenario, I can skip a month with no penalty if things were tight.
That’s fantastic! You’re doing really well!! I get nervous about paying extra on my utilities. I used to do that until I had a bad experience with my electric company. I used to be able save around $10k/year. Hopefully, I will be able to again. We will see if my new income situation allows it. Well done with your finances!! 🎉🙌🏾👏🏾
Thanks for sharing.
Should never put water on auto pay. If there is a leak, you can see it right away on your bill.
@@teambfa1265 good point, i still look at my bill/usage, and when i did encounter a leak, fortunately i noticed it before the bill came out. but it's made me more mindful about keeping an eye on things. thanks for bringing that up!
@@teambfa1265 I agree! You can dispute the charge, but hard to do if it's already paid! My electric company gave me a discount if I used autopay. If you call the companies direct, they have resources to help most don't know about. Also Benefits.gov is helpful!!
When it comes to unplugging things, it makes a tremendous difference. I used to be a travel nurse. I went on usually 3 month assignments. First time I went, I thought the bill would be lower because nobody was home to use electricity. Bill was about the same, though. Next time I left, I unplugged a lot. My bill was reduced by 76%!!! I got all excited and unplugged everything I could think of... things I didn't really know used vampire energy. The electric bill went down another 11%...on top of the previous 76% reduction!!!!! Unplugging makes a HUGE difference in electricity bills. I unplugged everything but the fridge. The fuse box was in the kitchen, so I actually turned the fuse to the stove off until I was ready to cook, and then turned it off again when I finished cooking. Now that the fuse box is in the basement, I don't go turn the fuse off as regularly as I used to, but I still do it when I remember.
This is my 3rd no-spend years!!! It's saved A LOT!!!!! I only spend on absolutely necessary things... and get the best prices possible on those.
I automate bills when I get a discount for doing that.
I was looking for a bank with a high yield savings account. I found out online that the bank I already use has one. I had no idea! I went in and asked about it...and got it! I asked why they didn't let people know, and they said they didn't want everyone to know because then everyone would want it... and they'd lose a little bit of their profit margin. They said that anyone who asks for it gets it, though. What a weird way to do business...but I got the higher rate. Now I keep the minimum possible in checking and move everything else into the high yield savings account. Who would've thought!!!??? Just go ask at your bank and see if you get a higher interest rate!
Oh, I like how you think!!! I wish you lived close enough to me that I could hire you and your husband to come help me get my house clean!! I'm disabled and getting my house clean is a problem!!
Massive congratulations on 19K saved!!!!!! 👏👏👏 Yay YOU!!!
(Also, If you get a tax return, you're loosing money. You've lost the interest on all the money you let the government use all year. They earned the interest on it, not you. There are legal ways to keep more of your own money all year long, so you have it to put in the bank and earn the interest on. It's really easy. I always aim to end up paying just about $200-$300 in taxes, instead of getting a refund.
Whoa!! What a big difference unplugging everything made!! That’s awesome!! 🙌🏾 And it’s really motivating to hear your experience.
Fantastic that you already had an account with a bank that also offers a high yield savings account. That’s so shady that they don’t advertise but I guess we should expect that 🤦🏾♀️
Oh man, I wish we lived close to you too. I’d love to clean your house, especially because you have physical limitations.
I agree with you about the tax refund. I’m definitely going to have less taxes taken out of my checks moving forward. I used to get earned income credit for having a disabled dependent but she passed recently. Thank you soooo much for sharing your thoughts and experiences. You really encouraging. And thank you for being here with me. 🤗❤️
thank you so much for sharing these tips!
Are the legal ways on tax returns just reducing your fed withholding? If not , may I know those ways? 😊thank you
😊
I am in the UK and unplug everything all the time! I went from paying £150-£180 on energy to just £55-£60. Great tip
Automating my savings has been a game-changer. I have it set up so that money goes into my high-yield account every Friday and i finally have a decent chunk of money saved up! I'm definitely going to try some of these tips, thank you!
That’s awesome!! I totally agree, it’s a game changer for sure. I’m excited for that decent chunk of yours to turn into a mound 😆🙌🏾👏🏾 You’re doing a great job!
I have a savings account with PayPal. Interest is 4.3%
Such a down to earth conversation with a bit of humor sprinkled in, thanks so much for making what could be a dry subject very palatable! After listening to you, I don't feel guilty or judged but motivated to tackle my debt!
Thank you!! I’m so happy to hear that. Yes!!! 🙌🏾 We’re all here with you, cheering you on, as you tackle that debt.
Thank you! I never thought to lower my phone bill. You just saved me $25. I went to my account and realized I wasn't even using these things.
That’s fantastic!! I’m so glad to hear that you took a look at your phone bill. 🙌🏾 A $25 savings is awesome. Way to go my friend!! 🎉💃🏾
My comment is for people on a really low budget. To lower your electricity bill and be less frustrated with cooking, baking and eating out. When you pick up food that contains rice, divide your meal in two or three portions. The food I pick up is the larger size. Sometimes I get three meals by adding a salad and some vegetables. I cook rice with vegetables and spice it up and freeze some in portions. I also make rice and peas dishes and do the same. I do the same with a lot of stewed beans and soups. I freeze some in containers for a meal. I end up not cooking everyday and just microwaving some meals. You can bake and freeze your muffins, loaves, and cakes. I slice the loaves and cakes, wrap them in plastic wrap before putting them in the freezer bags. I also buy the larger sizes of dish detergents, liquid soap for washing, toilet paper, etc., when they are on sale, so I don't have to buy those things every month. And don't forget to learn to shop when things are on sale.
Great suggestions!! Thank you sooooo much for sharing them❤️
It's so hard to find informative youtubers who aren't annoying. Thank you for not being annoying and very informative 😂❤
Ahahahaha🤣 I know what you mean. Thank you for that. 🤗💗
Great tips, Kim!
I can’t tell you how long I flailed around trying to pay off debt without a budget, but I was YEARS. It may seem like. A basic thing, but so many people don’t want to do it. I’m so glad I finally started budgeting 😅
I really need to try a no spend month. That honestly terrifies me 😂
Thanks Katie! Oh yea, no spend months are pretty hardcore. 😅 You could always start off light, like try a low spend month then work your way down to a no spend. I love the challenge 🤣
Try for 1-2 weeks to start, get some experience, build confidence and then extend the next time to a longer period of time. As Ramsey says, baby steps.
Start with a "no spend weekend"! It works too... 💯😊
I feel embarrassed for saying this but when she was talking about the "no spending for a month" I'm thinking to myself "thats how I have been living for over 5 yrs because thats all I can afford any way" 😕
And I feel bad or guilty if I try to treat myself to something small outside of needs and I back out of it instead. This year I am trying my best to make another source of income to afford an emergency fund, future retirement and a bit extra to treat myself to something nice even if its small every once and a great while without feeling bad or guilty about it. 🙏🤞
No reason to be embarrassed about that. We are all in different circumstances. And it sounds like you are making the best of yours❤️❤️❤️
When I started, had not heard of dave ramsey, Clark Howard or even Suzi Orman, I started out by saving my change.
It's a small amnt, yet it adds up and I had not heard of an emergency fund at that point, nor baby steps, so what I did was I was buying house from mom and dad had just died few yrs before so securing place to live was my priority, so I put my change towards house payment , specifically towards principle so cut into interest pd.
So I did small things (mostly out of stupidity but it's still a step).
There's where you save a penny a day and end of month you'll have .30.
Maybe 2nd month do 2 cents day so 1st month you had .30 nut end of 2n you'll have saved .60 and together from both you'll have
.90.
That's just a penny a day but if you save change just break bills when you pay something and may have several dollars depending on what you bought-recemtly I bought gad, fuses for car and microwave had just died so a new microwave and saved change from all purchases so had few dollars in change by time done.
It's not how much you're saving that's important but that you ARE saving and be grateful for each penny for its more then had before
I am sorry that you have to deal with this. Some things that helped me with saving was renting a room with utilities included for 2 years because getting my first apartment. I also do not have wifi or any streaming. TH-cam does just fine. Lastly, I started buying used budget phones and got off brand phone plans like Mint and H2O wireless. With two mobile plans, my bill is only $65 and I get 67GBs per month. Even to use for my home Internet needs. You got this!
Yeap I was able to save $10,000 on a low income job in less than 3 years. It is doable. I am a natural saver and did it without a budget. I just take out what needs to be saved before spending the rest or I pay myself first before anything else. Then whatever is left after bills I can spend. However I also don’t shop a lot besides groceries and I don’t pay unnecessary subscriptions. I just won’t do it. Lol. Now I feel I am overspending on groceries and May need to budget for that. Thanks for the tips
That is super encouraging to hear!! It's definitely doable. I think a lot of people just need the encouragement to do it. No doubt you'll find a reasonable number to stay within for your groceries and will continue doing an awesome job. You've got a good head on your shoulders. Well done!! 🎉
Glad to have come across this video, it is very affirming. Let’s me know I’m on the “right” path to getting my finances in order. I hope everyone reaches their financial goals ❤️👏🏾
Hey! That’s encouraging for me to hear. I wish you all the best and much success with your financial goals. 🙌🏾 Thank you for watching & taking the time to comment. I really appreciate it. 🩷
hey Kim. that's good "don't spend that extra paycheck IF YOU DON'T NEED IT". good advice.
the sound effects get me every time! lol. love it. it adds so much fun to the videos.
Heeeey Tasha! 😘 I wish I would’ve began heeding that advice in my 20s. I’d prob be a millionaire today, or close to it. 🤦🏾♀️
My husband (74 and disabled )myself (66) are ready to pass our 37 yr old family owned carpet cleaning business onto our daughter and son-n-law and we will be living off our 7 rentals ( 1 tri-plex, 1 duplex and 2 single family houses ). We have 1 more mortgage to pay off and then all 7 will be paid off.
We also have our SS checks.
We’re working towards being debt free .
We are learning how to budget and had an energy audit done to see what we needed to do to save electricity.
Ex. Brought insulation in attic from 6” up to 14” R38 , also have window film on all my windows.
Big difference in electric bill since!!! 1:56
That’s awesome!! Sounds like you all are in a good position. 🙌🏾 I know I need more insulation in my attic. We’ll see how much of a difference that makes on my bills. I hope all the best & much success for you on your debt free journey🎉❤️
I want to add a tip for those on fixed incomes say social security..that can’t generate extra income….start with saving loose change.. i did this in 2022 and I’m still doing it in a high yield acct and I have over $600.. I take the first $20 out every check and any grocery money left….I use a credit union for bill but not savings..
Great tip!! Thank you for adding that. I think we all can make good use of loose change 👍🏾
Morning Kim!!! I completely agree…I say the same thing all the time…my budget is freeing…it’s a stress reliever!!! The budget is the secret weapon to success!!! Great advise!!! Great information!! Great to see you💕💕💕
Heeey Melissa❤️💗❤️ Thank you! We are legit budget nerds. And I love it! I can’t believe how long I’ve been sleep to the budgeting world. Better late than never, I suppose.🤷🏾♀️
The algorithm is helping me find Chicago budget channels and I'm here for it! Great tips 💜
That’s really cool that it’s doing that. I’m finding out that there’s a bunch of us here 🙌🏾 Thank you so much for stopping by.
I bought some coffee from HEB and my own coffee machine last week. I can tell already I’m going to save soo much money from my frequent trips to Starbucks.
Yay!!! Good job! You definitely will save a lot. I used to buy their Venti almond milk caramel macchiato at least 4x’s a week. The amount of money that I now save is substantial based on that alone😅
Love this video and love how you talk to your audience. It’s very clear, realistic and relatable. I’ve done everything that you said even before watching this video except for buying lunch and food outside instead of bringing own lunches it’s also hard to cut out my uber eats order if I/we are lazy to cook during the week. So that’s my struggle right now expenses for food lol. Goodluck to all of us saving and reaching our goals! New subscriber here from Australia 🇦🇺
Thank you so much for saying that. That means a lot to me❤️ Sounds like you’re doing well. I totally understand the struggle with eating out. I go in waves with the struggle. Some months I’m great and others… 🍕🍟🍔🌭💰I’m a full wreck on spending🤦🏾♀️😂
Cook foods that freeze well in bulk, and freeze in portions. It will eliminate some of the cooking.
Hi Kim, I have been thinking about you and praying you would find your way! So glad to have you back.
Hi Paula!! Thank you sooo much for your prayers. Little by little I am finding my way. 😊
Very good tips! I always used “pay yourself first”. Sometimes I would have a bad month and need to take some back out but other times I made due with the smaller amount.
The pay yourself method is excellent. I didn’t even realize that I was doing that. I’ve I had to take some of the funds back too. Rough months get all of us at times.
Hi Kim. Really good to see you. Great tips on savings. I repurpose things so I won’t have to rebuy, save change, one dollar challenges, brought my lunch to work and took my coffee pot. Saved me so much money. Ridiculous on how much money I was spending on lunches. 🙋🏾♀️. I do much better now. It’s was hard, not gonna lie. But so worth it. Congrats on the new business venture. There is a lot of money in cleaning services take care. 34:43
I believe you. I know that isn’t an easy switch from buying as you go to bringing everything from home. It’s insane how much we spend on buying lunches and coffee out. 🤦🏾♀️ Repurposing is so smart!! I need to get better at that. And thank you my friend!! 🤗 I’m so glad to have regular clients now.
Building new habits can be hard, but eventually it will be strange to buy coffee and lunch, lol.
@kenyonbissett3512 Agreed! 💯
Definitely needed to see this video. I have been shifting money around and sending it to my high yield accounts. My goal is to save a chunk so I can send big amounts to my student loans. I was a sucker for sitting back for the three years. Great video!
Thank you my friend!! I have a similar goal as you. I’m trying to save as much as I can in high yield savings until the end of 2024. Then I’ll pay off my debt in one chunk. You got this, Rosalyn!! I’ll be cheering you on.🙌🏾
When you do have a huge chunk to pay off the debt, try asking if they will take say 60-70% for an immediate final payment. If they agree, get the agreement in writing!! Get their "paid in full" countersigned & keep that paper for the next few years, in case another collection agency tries to recollect the old debts!!@@debt2none
Hi Kim. I agree have a budget gives me so much peace knowing what I’m working and all my bills are accounted for. Great video.
I wish everyone was convinced. My friends still aren’t interested in making a budget. They’re really missing out. I’m with you, I love the peace of mind that having a budget gives💗
yessss
I really need to do a no spend month. That sounds like a great idea. I also need to get back to automating my savings. I was doing it before and will set it back up. Thanks for the tips!
Let me know if you do a no spend month, I’ll join you. It’s exciting to to how much is saved afterwards. ❤️😘
Kiiiiimmmmm!! Hey hey hey!! Love seeing you!
Since changing our budget a year ago it’s been so so different and I totally agree! Such great tips!!
Heeey Court!!! It’s so good to hear from you. Thank you🤗 Budget changes can make all the difference 🙌🏾👏🏾
This info is GOLDEN!!! I have struggled in this area for years to this day. If I'm being honest with myself, I like automating my bills because it's safe and smart, but if i ever use the excuse not to, say "because I may not have it" . Well the truth is I do have it I just want to spend a little more sometimes.
Hey!! Thank you! I completely understand your thinking. 💯 I get it cuz I was doing the same thing a few years back. That feeling to spend a little more than I should can be overwhelming but it feels even better to have all my bills paid on time. I’m sure you agree 😉
Put window quilts in the window (Summer and Winter), use tea light and if you can, build or buy inexpensive portable solar panels to reduce your Con Edidon (New York)/Electric bill, go to the food pantry, grow food in your apartment, upcycle clothing and sew your clothing.
Oh yea!! Excellent tips!! Thank you for that. I’ve been making use of usb chargeable lights too.
I couldn't stand that. I have to be able to see outside. I can't stand a dark house
Thank you! This video popped up at the perfect time! I have a extra check for next month and I was just going to get up on bills but I'll stuff my emergency fun and put more money towards my credit card debt 🖤
Aww! You’re more than welcome. 🤗 That sounds like a great plan for your extra check. And thank you for watching.
I know all the things to do. The issue is sometimes I don’t want to comply with my own budget. This month I’m going to eat and cook from my well stoked pantry. I will only go to the grocery store for eggs and maybe produce. I’ve been buying to stock up for so long, now I need to use it and save$. I do plan to buy a turkey when the go on super sale. So in December I’ll begin stocking up again. I won’t need much, and I’ll probably try it again in January BTW, I’m retired and a recent widow .
I understand that. I struggle with sticking to my budget too. It sounds like you have a good plan. Being disciplined can be difficult, but I know we can do it. And I’m so sorry to hear that you recently lost your spouse.
*13:22**: Automate Your Savings* *~ All great information! I appreciate these tips!*
Thank you soooo much for watching! And I really appreciate your feedback
Doing a monthly budget has been the best thing for me. As you said, and I believe it to be true also, it is freeing. It allows for guilt free spending.
I feel the same-the absolute best! Doing a monthly budget was a game changer for me.
Thanks so much for this tips. This is so relatable I like what caters to people with less income.
I’m with you on that. Sometimes I’ll watch videos that are so out of my league, I get a little discouraged. But I understand we all have different circumstances. Thanks so much for watching❤️❤️❤️
I’m with you on that. Sometimes I’ll watch videos that are so out of my league, I get a little discouraged. But I understand we all have different circumstances. Thanks so much for watching❤️❤️❤️
God knew I needed this. I've been praying about saving and really trying and here I go stumbling across your page.
Aww man, that warms my heart. 💗 I know He hears your prayers. I’m glad you found me.
scary
Thanks me too! 💕
I have come to realize that about people around me. People I know have said they wanted help with budgeting however didn’t know how to create an actual budget.
Right? I am trying to help a couple of my friends who said they want assistance. But I can’t seem to get them to sit down & make a budget.
First wanna say u are a beautiful lady, second I want to congratulate you on your response to the folks who are negative in the comments, you really handle them classy, thanks for your video content❤
You are sooooo kind…this just made my day. Thank you so much. I sincerely appreciate your sweet words. We need more commendation and less criticism in this world. Thank you for being here with. 😘❤️
Great info. I'm going to try the "No Spend Month" like you mentioned here and there throughout the year. Thanks!
I hope you crush those no spend months. 🙌🏾 I’ll be joining you, doing a few on and off too 😃
great advice ! not overlooking the basics was the most crucial key to why people aren't successful in saving money! 😅
I totally agree! The basics are crucial. Thanks Nickii❤️
People think “$5”, I can barely get a coffee for $5. Gas station coffee and taquitos for $5. They don’t see how $5 every day adds up $150 a month and then $1,800 a year. This would be great for a starter IRA/ROTH retirement account. I think people should consider a slow approach they won’t feel but will give them time to find savings in their budget to cover it.
Transfer 1% to a savings account month ONE $13.25hrX40hrs=$530 X 1%=$5.30 weekly into savings.
Month Four transfer 2% to a savings account weekly $530x2%=$10.60 directly to savings.
Month Eight transfer 3% to savings account weekly $530x3%=$15.90 directly to savings.
First day of year 2 transfer 4% to savings account weekly $530x4%=$21.20.
Before if some one had said, hey just deposit $85 monthly into saving and that person would say, “I can’t afford that.” This amount of time gives them time to adjust and find savings like Kim brought up so they can save more and still feel like they aren’t over burdened. Finding a $20 a month saving within 3-4 months to meet the next higher savings goal is totally doable.
Great to see you and having videos from you Kim, hope work is treating you right and all the success for your new business.
Amazing video can help a lot people 💗💙💗
Hey Cris! I just finished cleaning 2 homes, 1 large one & the other average. I’m so tired but glad to have the work. Thank you Cris. Thanks for always being here for me😘❤️
When I cut my budget, I immediately moved the money to its new home. For instance, I cut a subscription money and placed it into the relocated fund. I did not leave it in the bank because it would've been used. Good luck
Fantastic move. That’s the wisest course of action. Great job! I know you’re seeing good results. 🤗
I’m really happy that FINALLY I found someone who can speak realistically regarding lower income finances. ❤❤❤
Aw, thank you! I’m glad you found me too.💝
Hey my name is maria mom of 10 ages 27 to 2 work at a hospital and my husband is a marine and Carpenter and I am so glad I found you.thank you so much for all ur help and I pray to use all ur advise.my dream is to build my own home and help all my children be set before god calls me home.please pray for me to achieve all my dreams.and congrats on ur hard work I'm proud of u.
Thank you so much Maria! ❤️ Wow! 10 children!! What a blessing!! You have beautiful goals. I believe you will achieve them, stay focused. I wish you all the best as you work hard to turn your dreams into a reality.🤗
Thank you I’m 19 and moving out for the first time so these are great tips for me.
Aww, I’m so happy to hear that. How exciting to be moving out for the first time🙌🏾🤗
Thank you so much. You made a difference in my life. No one has explained it that way to me before. Your tips and your journey will forever be an influence. Thank you so much for sharing. Bless you.
Oh my gosh! Thank you so much for telling me. That means everything me. ❤️❤️❤️
I have been unplugging all the things that I can. Just started this month. Cs t wait to see the impact on our bill.
That is so good! I’m curious to hear how much you’re able to save. 🙌🏾
Hank you SO much for sharing your money saving techniques. I took your advice and opened up a high yield savings account. I can't believe I waited so long to do this but I am so glad I did!! Thank you, thank you!! 😊
Thank you!!! I really appreciate you for watching & taking time to comment. And I’m so happy to hear that you opened a high yield savings account. Way to go!! 🎉🙌🏾
So proud of you sis 🎉Blessings to you and your family !!
Thank you soooo much!!!!
Hey Kim, I'm a first time viewer to your channel and wanted to encourage you to keep going, you're almost there!!! 😊 Also, you mentioned ComEd and i was like whoo hooo she's in Chicago...yeah baby!!! 😂. I'm Far South Chicago and also discuss finance and saving. We soooo need to hook up, I love my Chicago peeps. ❤
Thank you! I will definitely keep going 🙌🏾 So close!! Yep! I’ve lived in the Chicagoland area all my life 🤗
This resonated so much!!!
Thank you 👏🏽👏🏽
I’m so happy to hear that!! 🤗 And thank YOU for watching.
Hey kim! I started unplugging when I started paying my own electricity bill. My friends definitely thought I was crazy but yes I saved! I don’t do it now but I need to start back
Hi Toya!! 🤗❤️ It’s funny how just a few small changes can make a big difference in the budget. I need to get back to it again too.
I just started back unplugging last week.
@craythachef7774 That’s fantastic! 🙌🏾
I appreciate how you explain in such a clear and relatable way.
Aw! ❤️ I’m really happy to hear that. Thank you so much my friend.
You can automate utilities. I looked over my bills, saw the average amount and set up payments from my checking account to the utility company. Whenever I over pay, I receive a credit. It's beautiful to see a $0 balance on utilities. You have complete control and can cancel a single payment at any time. Plus it allows me to pay utilities in small chunks
Oh yea? That’s awesome! I just might try doing that with my utilities. Thanks for the info.
This is the kind of video I really needed, the very basics and some ideas too. My family has very poor financial literacy and I really want to break that cycle. Definitely need to set up a high yield savings account.
I completely understand where you’re coming from. My family knew nothing about financial literacy. I was trained with some very bad habits. I’m glad the cycle can be broken 😅
I never made a budget. Pay myself first, live frugal no cable, reduce electricity change to LEDs bulp, all appliances are energy savers. City installed automated meter. The savings is tremendous. Walk to work. Use only cash for spending. Bring lunch to work in a portable food warner. Don't purchase clothes or foolishness. Purchase only organic food to stay healthy.
It sounds like you’re doing well. I guess if you don’t spend much, maybe you don’t need a written budget 🤷🏾♀️
@@debt2none correct.
This is a wonderful video with many helpful tips for anybody regardless of their budget. I really thought you did an excellent job sharing what works for you. Thank you so much! 🎉🎉❤
Hi Debra!❤️🤗 Thank you so much for saying that. Hopefully it helps someone out there.
Great video Kim, great tips. And great to see your killer smile ❤
Aww Gina!! Thank you sooo much❤️🤗
Such a great video, took detailed notes, thank you!
Thank you. ❤️❤️❤️ I really appreciate you for watching
I'm doing No Spend January and it's so hard!! Lol... but I love how much I'm saving.
I hear ya!! But you’re doing a great job. Keep it up! 🙌🏾🎉
A lot of great tips - thanks for this video! Especially your rec to look into lower interest rates on credit debt. In late 2023, I did a balance transfer of my high-interest, high-balance credit card debt to a lower-interest personal loan through my credit union, and it was one of my BIGGEST financial flexes for the year. I can finally see my payments making an impact, instead of barely touching the principal after paying the astronomical interest every month!
That’s fantastic! Excellent move🙌🏾 I’m so happy for you that now you are making headway on your debt since you transferred the balance.
Starting my financial lit journey & this video is EVERYTHING! So many practical tips that I haven’t seen in other videos. This one’s a game changer, thank you!!
Oh wow!!!! Thank you so much for the positive feedback. 🤗 I wish you all the best and much success on your financial journey!! 🙌🏾
Hey, Kim! 😘 I definitely watched this video the other day but forgot to comment. Just wanted to let you know I was here 💜
Hey Jerri! Aww, thank you for that.🤗😘
Great job sharing those tip in a simple organized manner.
I think you will be helping a lot of people💖
Aww Tess! 😘 Thank you so much 💗🤗
I liked when you said make a budget, some of us think the word budget is degrading however most don't consider that micro, medium and large organisations also make budgets. So essentially budgets are the foundation to manage any income effectively. Additionally, unplugging unused appliances and phone chargers when not in use do make a difference.
That’s so true. All successful businesses have some sort of budget in place. I thought budgets were restrictive but it really has felt freeing. It’s funny how making several small adjustments can make such a huge difference 🤗
@@debt2none yes and Im still finding new ways
@user-nd5ke4ey7t That’s so cool 🙌🏾 Sounds like you’re doing really well!
Happy November 🤗 Congratulations on the savings, my rising star 🌟 I loved the video ❤ Great job 👏
Thaaaank youuuu!!! 🤗💗❤️😘 Happy November 🍁
Hello Kim! It’s so great to see you! I actually love making a budget every pay day. I used to not be this way! 😅 It definitely feels so free to have control of where my money goes! Those balance transfers are so helpful when paying off debt! Great tips!! You have done so well at saving and paying off debt! 🎉💜🌻
Thank you Imani! 💗🙌🏾🎉 Sounds like both of us have grown into happy budgeters 😆 Budgets really are freeing. I never understood that before but so glad I do now
love the energy!! tysm for the upload :D
Aww!! It makes warms my heart to hear that. Thank you ❤️ And thank you so much for watching!!
We use AAA. We pay the yearly amount for the plan and when you do that and get car insurance through them, it gives you a big savings. The original price I had to pay was still cheaper than other companies and then after 6 months, I think, of payments you get a big discount. We also use Ting for our mobile service. We only pay like $12 a month. Of course, we only use our cell phone for emergencies when driving because we have to use a home phone because we don't have cell service where I live so it will be cheaper than someone who uses their phones at home and when out, but I still think they have good rates. This video was helpful, thank you.
AAA has great rates. I have them for auto. I also had my homeowners insurance through them for a few months until they canceled my policy due to some foundation issues they found. I was saving a lot with the bundle. You are doing fantastic with keeping your expenses low. I’m always looking for ways to lower mine. Great job!
These are great tips. I’ve been working on paying off debt for at least two months and I’ve paid down $2,500 of credit card debit. Which is huge for me because I’m also low income. I still have a way to go but I’ll be using some your tips too 🙂 thank you!
$2,500 paid off already? That’s so awesome!! Well done my friend! 🤗 I know that’s huge when working with a low income. I’m so excited for you. While you keep that fire that’s burning in you right now, you’re going to crush that debt. And thank you so much for taking the time to watch & comment. I really appreciate it. 💗
You’re brilliant!! Thank you for your advice. New subscriber here 🎉😊
Thank YOU!!! You’re super sweet. And I really appreciate you taking the time to comment.🤗
You give good financial advice Kim Thank you.
Aw! Thank you so much for saying that 🥹
Hey. You are right. A budget is freeing. Thank you for sharing our tips. You are doing a great job.
Thank you so much!! ❤️ I wish I would’ve realized that sooner but I guess it really is better late than never, as they say 😆
Love these tips ! Especially the unplugging of the appliances at night. It really does make a difference .
You’re so right! It really does. And thank you for watching & taking the time to comment. 🤗
I do no spend January followed by low spend February as do a lot of TH-camrs. Then I do a no spend June as we have no family birthdays or significant events in June. I also combine these with a pantry challenge to buy much less food and eat what we have. The funny thing is doing these no spend months changes our mind set and we don’t go back to overspending. We consider what to spend money on in a more calm and analytical way. Win/win
Nice job!! And I totally agree with you. The no spend months is a complete mind reset. It definitely helped me change my spending habits.
Love all of your content. Subscribed. Keep doing your thing
Hey! That really means a lot to me. Thank you so much my friend!
A lot of bills come in the mail on almost the same day every month. My cell phone bill comes in the mail, basically, the same day every month, or very close to the same day. The electric bill is drafted on or around the same day every month. Track those bills for several months to see when they arrive in the mail, or when they’re drafted from your account. Then, write those bills and dates on the calendar. There should be no reason to be paying a late fee for bills. One of my bills comes in the mail on or around the 20th of each month, but it isn’t due until the 28th of each month. So as soon as I get it in the mail, I pay it. That gives me a week to pay it. Sometimes I pay it before I get the bill in the mail, especially if I have a little extra money. I understand not everyone is able to do that, but I believe most are able.
I agree. Late fees are unavoidable. Setting up autopay was my life saver 😅
Omg you are so goals!!!! I want to save £5000 each year for two years and it feels really hard but this was so encouraging thank you ❤
Aw!! 🥹 You’re the sweetest!! And I totally understand it feeling hard to reach the goal. I felt the same way when I began. When you reach £5000 you will notice that it becomes “easier” to do it again. It’s strange, but I no longer feel that $10K is difficult to reach now. You got this!! I’m cheering you on 🙌🏾
Someone was saying driving a bus he can make a lot of money and there’s a lot of bonuses start off with a small bus around here in Massachusetts. They have the smaller buses, so that’s another thing. If you have a lose your job you can look into that.
Oh yea, that’s true. I know several people who drive buses or vans for schools. My husband was thinking about doing that. 👍🏾
I agree ABOUT the checking account with credit unions. My C.U gives 5.00 % on the balance after 15 transactions.. Which is why I went somewhat digital for cash envelopes.
Nice!!! 5% is fabulous!! Your CU sounds really good because 15 transactions is is super easy to achieve.
@@debt2none Yes, 15 trans 8s achievable now..
That would be a transaction every 2 days!! Being a retired low income senior, I try to go out only 1-2 x/ week. My repetitive bills are automatic payments & I pay cash for groceries (2-3x/month), gas for car, cell phone, etc. I wouldn't have more than half a dozen or so transactions the whole month. I also don't buy anything on line!!
@@kaythegardener totally understand what you mean. sometimes when I'm in a store to get my transaction limit I may do multiple transactions
Ah, hah, that's a great thought!! @@IDesireeWealth
Great video! Happy holidays from Dubai 🎉
Thank you so much for watching! 🤗 Wow, Dubai, how cool!!!!
You are a smart, lovely young woman with very good financial advice and I commend you for all your hard work. I was a single Mom raising two girls and your advice to people is excellent. Keep up the good work.
Awww! Thank you so much. I really appreciate your kind words.💝
A no spend month almost killed me😂😂but I definitely saved more that month
Oooohhhh yea, I know exactly what you mean. They are killers. 🤣
Thanks to your video I just canceled $28 worth of subscriptions every month that I don’t use! I paid off my credit card and I basically have no savings so I’m starting from the beginning again. Wish me luck!
Oh wow!!! That’s awesome!!!! Congratulations!!!! 🎉🙌🏾 Look at you getting it done!!! I wish you all the best and much success as you build your savings.🤗
Years ago I owed a dentist and got behind with a chiropractor. I wrote them both saying I could give them $20 a check. And when the lower debt was paid off, I paid the remaining debt $40 a check since I already used to missing the money.
That was so smart and responsible of you. My dad told me to do that when I owed my doctor $1400. They will always take something he said. Thank you for sharing your experience.
@@debt2none Well it wasn't my idea. I heard it on the radio. Don't remember who it was.
Thank you for sharing your wisdom!
Thanking you so much for being here. ❤️❤️❤️
I love these tips. I did all these things to save money when i made less than 30k per year.
That’s awesome!! You’re a great example that it can be done 🙌🏾
it is really scary that people need to watch a youtube video to figure out how to save money
Congratulations! Way to go!! That’s awesome!
Thank you!! 🙌🏾 I’m pretty excited 🎉🤗
Thank you!! Enjoyed this video!! Notes taken.
Aww!! Thank YOU so much. I really appreciate you ❤️
I have all of this besides cd’s. I’m eager to implement these tips. Thank you so much
That’s great! Sounds like you’re doing well!! 🙌🏾