Our Minimalist Budget | Tips to Spend Less and Save More
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- เผยแพร่เมื่อ 2 ก.ย. 2018
- Our Minimalist Budget | Tips to Spend Less and Save More
Saving money can be challenging, but in this video we will share our hacks to save money using a minimalist budget. We have saved thousands of dollars because of our minimalist budget, which allows to us to save for what matters most. I hope this video helps you to spend less and save more, while also revealing the best minimalist budget hacks that you can incorporate in your own life. You CAN live frugally without sacrifice, it just requires a little planning! This also is an updated minimalist budget video from our past version, which you can check out here: • Minimalist Budget Tips...
Carpool Video from the Teacher Channel: • Spend Less Time at Sch...
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Hi all! I just wanted to let you know that I recently filmed an updated budget video, which accounts for several new life changes. If you want to see the newer version, check it out here: th-cam.com/video/MlRKDaj1iFc/w-d-xo.html
It took me 55 yrs on earth to recognize the over-consumer I've been.need to just be more cognizant of buying stuff that eventually will be taken to Goodwill.
😁💜
Bonus for Australia is that if you work for a government school your pay is regulated across the country based on your years teaching. My husband and I both teach and the only reason he gets more is that he has been teaching three years longer than I have! I am in my first year and he is in his fourth and we both get over $13K a month. I didn't realise how underpaid teachers are in America until I watched this video.
Thanks for that information though it really helped shaped my understanding of how you budget.
WOW! I must say I am pretty jealous about those teacher salaries! Good for you guys! :)
OMG can I come work in Australia? I'll teach you guys Hebrew if you'll have me 🙏🏼 I'll do it for way less money honestly!
Great video and love that you showed your own figures!!! It helps to show people that saving is possible and they could just potentially use your budget for themselves!!! Keep doing what you’re doing!!!
Thank you so much! I'm glad it was helpful!
The most genuine and best video I have seen on TH-cam regarding income/expenses.
I truly appreciate you doing this. It gave me so much insight! God Bless 💗
I am so happy to hear that, Mari! Thank you!! :)
Love this update! I always appreciate your approach to life and minimalism. I thought about you the other day when I was cleaning out a room and decluttering. Anti haul FTW! Enjoyed this since it's a similar amount to what we bring in as well. I'm so impressed by your spending, hopefully we can move more in that direction!
Aww you are so sweet! It is awesome you were decluttering! I really enjoy your channel to hear about finances with a little one!
I've been watching your videos for a month or so. they are EXCELLENT!! Your ideas and actions are so well thought out,and presented in a calm, reassuring, and intelligent way. You are definitely a natural teacher/mentor.Thank you for your hard work and kudos on your successes!
Aww, thank you, Judy! This has definitely been one of the sweetest comments ever! I'm so happy to hear that you are enjoying the videos! Have a lovely day!
Great overview and I appreciate your transparency. Love this video!
Thank you, Rachel! I'm glad you loved the video!
Wow! a 10,000 emergency fund is great! Great job guys!
I agree 👍
Thank you so much for sharing your financial plan. I know you will achieve all your endeavors. Your video inspires me to reevaluate my budget and finances. Can't wait to see you in your own house!
Yay!! Thank you for all of your kind words! I am also very excited to be in our own house...stay tuned! :)
i would love for you to do an occasional cooking video. I like to cook too and 99% do meal prep but as im single I can get about 3 weeks stuffed into my freezer. Also do you have any tips for finding a honest and respectful room mate?
Definitely! I want to do more cooking videos in the future too! The roommate was a fellow coworker, so I already knew her previously and knew she was a good person. I don't know if there is any good place to look, unfortunately!
Love budget videos! Just finished updating mine.Can't wait until your channel has mommy stuff on it too lol. Curious about your roomate and how you and your hubby decided to bring someone into your home. :)
Thanks Nicole! I am very excited for the mom phase of life too, haha! :) In terms of the roommate situation, she is a coworker at my school, so I already had some background information about her and who she is. Jake and I chatted about the situation and the pros and cons, and since we had a two bedroom apartment (it was the only one available that worked best for us, even though we just wanted a one bedroom), we decided to go for it. It has been a great arrangement!
Dear Sarah thank you for sharing, very inlightning! And also wanted to point out , I love your minimal backgrounds, helps me to stay focused and engaged as I am easily distracted. I am rooting for you guys to find a dream home :) Love from the Netherlands
I'm glad you enjoyed the video and the simple background! Sometimes I wonder if it is too plain, so this feedback is very helpful!
Don’t give up on travel. There are so many inexpensive ways to travel. There are at least 3 international pet sitting sites, watch a pet and stay there free. From LA to NYC to Australia to London. Travel planned ahead is inexpensive and if you travel at peak times they’ll get you on the next flight plus pay you. Staying put in a house will allow you to source and cook locally. Don’t limit yourself
Very true! Those are great suggestions!
Oooh, I am interested in traveling in a less expensive way.
Just found your channel and wow. I’m going to go binge watch all of your videos now.
Welcome to the channel, Violet! Thank you so much for your comment! :)
Loved your honesty. Easy to calculate the values. Subscribed your channel too. Hoping for more relevant videos. Cheers!
I'm so happy to hear that! Welcome to the channel!
Great video! Thanks for sharing all of this info. I NEED a high yield savings account for sure! Keep them coming!!
YES! High yield savings accounts are the best!
@@AbundantlyMinimal where can I get a high yield account without having to not touch the money for so long?
@@BattleAngel20 Most high yield accounts don't have minimum requirements, and you can transfer money in and out without penalty, unlike traditional CDs or similar bank accounts
Thanks again for another great video! It's so interesting I have a high Interest bank account and my husband doesn't but was saying the work of switching all payments and everything to a new account would be such a pain it wouldn't be worth it. It's mind-boggling to me that the little bit of work is throwing out so much money per month so I'm hoping to help him sort it out but I strongly, as you did, recommend this to everybody it's worth the short-term pain to go through it and get organized to just make money with your savings that are sitting there! congrats on all the great saving techniques you guys are doing I wish I had started much younger!
I'm so glad that the high interest bank account has been so helpful for you, and I hope your husband gets on board very soon!
Thanks for the tips
Hmm, it's good to have a list of what you get in and what you spend. As a single person I do wish I could put thousands of euros into a savings account.
Great video!!
Super useful video. Thanks!
You are very welcome!
This video came out in one of my recommended, I’m a new subscriber 😊
Welcome to the channel! It is great to have you here! :)
I love your videos! Thank you!!!!!!!!!!!!!!!!!!!!
You are so welcome!!
Very helpful.
I'm a new sub and am really enjoying your videos. I found you while looking at other frugal minded youtubers. Also, my husband is from Kankakee, Ill. Glad to have found you and look forward to checking all your videos out.
Welcome to the channel! It's great to have you here! :)
@@AbundantlyMinimal Thank you 😊
thank you for sharing ♡
My pleasure! :)
Same here. Any state employees salaries are in our local newspaper. Love theses vids too. Ty🥰🥰🥰
I'm so glad you liked this video, Trudy Ann!
Very good!
Thank you, Patty!
hi Sarah another great video. my husband gets a pension and we have it set up every month with our bank that $200 of his pension gets transferred from our checking to our savings. That way we don't see it and we don't spend it thanks for sharing great tips
Those automatic transfers are the best! Thanks Cathy!
Hi Saraaah , you daaa best , great videosss as alwayss xDDD thaaankss
I have a high yield also. At 2.35%. They definitely are great.
Just make sure it’s compounding.
That's awesome!
This is a real eye opener because I am a teacher in nyc and rent and utilities are so cheap in illinois!! And we make only slightly more than illinois teachers.... smh
It is amazing what a difference the cost of living makes! I hope you are staying safe in NYC.
Thanks for sharing! Although you mentioned it, I didn't see you include income from your roommate in any of your charts.
You are welcome! I had already adjusted the numbers to account for income from the roommate. She pays $450 per month total, and our rent is $1,200 per month. Therefore, I only counted rent as $750. I hope this helps!
Groceries are a lot cheaper in the US than in Canada... I am just one person and my groceries are $500 per month and I don't purchase any junk or almost no processed food and eat very basic food.
That's my take home pay single. But I can't budget as good as y'all.
Good for you! Enjoy it! :)
I’m in Illinois too ❤️
Yay!! That is awesome! What general region?
Me too. I'm in the Carbondale SIU area. I was wondering if you had lived there when you referred to a lower rent area.
I consider myself quite frugal compared to people my age (I'm already saving for housing and for retirement at less than 25yo) but I don't see any shopping / sport / travel / discoveries, guess I'm not minimalist at all, this budget looks sad to me 😔 I try to balance between saving for the future (meal prep, house mate, no transportation, that's +700$ a month saved) and we only live once 😁
I live with a married couple in their extra bedroom paying about that your roommate pays. I say its a win/win situation, they get some extra money and I get rent much cheaper than I would have anywhere else around where I live.
Absolutely! It is a win-win indeed!
Have you thought about making swaps for like your household items and making them yourself to cut costs so you can have more money for food or travel? Pinterest is great for finding things that work!
Great question, Kat! Yes, we have! I think my biggest limitation at the moment has been time during the school year. There have been phases when the amount of work I have/do makes it tough to keep up with the very basic elements of home life, so the DIYs have felt a bit more out of reach. However, I will have some major schedule changing coming up soonish that should make it more possible!
That's awesome! If you try doing a laundry detergent or other type of soap, you can always make it in bulk for the school year!. You could also do meal preping for multiple weeks at a time so it's a simple pull out and heat or throw in a crock pot/instant pot. Maybe even do a month or so ahead of time and freeze/make one meal in bulk for like 4 meals and freeze 3 for later! It's great the things you can do to cut corners and still live a healthy lifrstyle!
I've looked at several websites of banks offering high yield savings accounts. The interest rates are variable rates. Have you seen fluctuations in the interest rate for your account and would you share which bank you use? Thanks for all your great information.
Great question, Cece! We have seen a small amount of fluctuation, but it has still yielded great returns each month, so I am not usually too concerned. We do have our account with Discover.
@@AbundantlyMinimal how ming have u backed with discover and why did u choose discover from all other options. Also, how do u get money out of needed.. Atm?
@@BattleAngel20 I just used Discover because my parents used it and they recommended it. You can transfer the money digitally to a conventional bank account when needed.
Would you consider making food videos? Thank you!
I would love to do some more food videos! There will be a few on the channel over the next few months, but I am hoping that the house we get will have a better kitchen for food prep and filming, in which case there would be more happening with that! Thanks for your feedback!
Great idea to have a room mate for a few months to help with the house goal.
Thanks, Gwyneth! It has been a great arrangement!
Having someone living in your house can be a real eye opener. We welcomed my grand daughter and baby in to our house. She does not keep her room clean or pick up after herself. After many attempts to explain this is our house and we would appreciate her picking up, nothing has worked. Any ideas?
That does sound very frustrating, especially since it is very nice you are letting her live with you and there is the family dynamic. I'm not sure about the details of the situation, but I would say that you could have a conversation with a few options: either keep things as they are but clean-up, or there is an added monthly charge because of the messy habits, or it's not going to work anymore. Sometimes people only change when they really have to.
Great tips! I just did a video on budgeting. It is fun to hear others opinions on the topic!
That's awesome! I agree, budgeting videos can be very helpful since everyone is doing something a little different!
I personally think the room you rented should be considered in the income column, rather than proactively deduct it in your monthly house bill.. It could give a better story, it doesnt meant your expenses are lower but you increase the money going in..
Imagine the days when interest rates were 10% and above
Hello Sara. I’d like more information about your cookbook. Where can I find it?
Hi Robbie! You can find it here: www.abundantlyminimal.com/eatsimple/
Abundantly Minimal thank you. I’ve just ordered it.
I hope you like it!
Abundantly Minimal I’m having trouble downloading it. I’ve already tried once. Only have 2 more times.
@@robbiethornton-peek3928 That is unfortunate. If you don't mind, send me an email at sarah@abundantlyminimal.com and I will email you a personal copy.
How do you keep your cell phone bills under $50?
Great question, Teresa! We are on a family plan with my parents and pay our share of the bill. Our plan also does not have much data, which is fine because we rarely use it!
Is your house fund in the HYSA? No one talks about them ever. We keep a small $1,000 “overdraft” protection fund in our regular savings and every dime above that is in a HYSA :). We make a lot of money every year off of it. Just remember that you pay taxes on it at the end of the year :)
Yes! Although we currently used that house fund for our down payment on our condo that we purchased in December!
What you consider "not earning a lot" - that's 18.24 times a full time wage with a degree (at least in the first few years) in here. Even for a nurse & a doctor. Plus that's the lifelong wage for teachers.
Thanks for sharing! It is very interesting to hear about the huge range of salaries. I just heard a comment from someone who teaches in Australia and makes more than triple what each of us make!
@@AbundantlyMinimal I can't thank you enough! After seeing this injustice I'm considering working abroad (maybe Australia lol) after Uni. Thank you! (I'm in the health department & when I'll graduate if I'll find a job I'll earn 1480$ per month for the first few years, while a 2 rooms apartment here - 35meters, costs 275,000,000$).
Electrict only 30 or 40 dollars wtf mines 200 even if I dont use ac or heat
Hello fellow illinoisan
Hello! It's always great to hear from others from Illinois!
What is the name of the bank where you have the savings account again?
It is a Discover Savings Account. www.discover.com/online-banking/
You are obviously an intelligent, attractive, and driven woman. You should go for your doctorate and be a school principal or professor/dean at a college. That would substantially boost your income.
Thank you! It is funny you mentioned that, since I have a career-related change up my sleeve that I will be announcing in June! :)
Forecastx
So, does it mean you don't have to pay any taxes from 450 dollars from your room mate? Or maybe you forgot? I mean, just asking.
I can't remember how I described it in the video, but typically in roommate situations, each roommate contributes part of the rent from their previously taxed money. That is how I dealt with it with college roommates and that is how it works for us now. Is there another renting model you are thinking of?
@@AbundantlyMinimal Not exactly acording to the tax code. It is still considered an income. If you don't exceeed a certain amount of collected (=earned) money a year, you don't need to pay tax. Above it, you should.
It’s not for profit if they share the rent
Where do you live? Rent is so cheap!
We live in Illinois, about an hour outside of downtown Chicago. (The roommate situation definitely helps keep costs down too).
I wish I can be transparent with salary and income, but I’m a Manager and it’s best to keep things confidential. I like blogging about a debt payoff though- that can be more transparent.
Omg $750 for rent?? Our apt is $2000 here in SoCal and that's on the low end of rent in our area... the cheapest we could find. The more I get into minimalism the more I realize SoCal doesn't agree with it. So depressing...
That is such a bummer. I love Southern California (from when I have visited), but I don't think I could afford living there. Do you think you will be sticking around in California for the long haul or have you contemplated going elsewhere?
I've been in socal for 20 years and I'd really like to move elsewhere to be able to save money for once but it's really hard to figure out where. I work from home so it really depends on where my husband can find something in his field.
digitalteacup
I know right. I'm in South Florida. Close to the presidential winter White House lol
@@Courtney6 what do u do from home, have u found an affordable place
Lucia Lux we still live in the same place unfortunately. When our lease is up in March I think we’ll try to move a couple hours away or something. Thanks for asking. I am a photographer and calligrapher.
Why don’t you own a home with that salary? It would be putting your money into something that increases in value.