Is all about having a conscious responsible mindset to protect your home, credibility, My grandmother always told me put away and save at least $50-$100 in *Pecuniary backdoors* . Every time I get paid ..As paying yourself as a bill put the money in an envelope that’s emergency cash for household and myself. take the rest of the pay and take care of your rent and your other expenses… thank you for this video is very informative.
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
What a GREAT IDEA! It took me WEEKS waiting on the Library waiting list for Ramit's book! They told me there was only 2 books in the "system" and a HUGE waiting list!
I know you hate spreadsheets, but I love them. I have a budget for 6 major categories and check in weekly with my husband. I have 6 HYSA set up for different goals. I manually go in and do payments for CC and bills. We saved over $4k last month (50% of our income)🎉🎉
I remember when I thought that saving 50% was the objective.. 😂 Now I realized that we never celebrated looking at our bank statement every month.. 🤷♂️ One thing I learned watching Ramit is that the focus shouldn't be on how great your saving rate is, but what % do you allocate to pursue your "rich life" as a couple.... I came upon Ramit when I was full on the "Fire/Frugality" movement. I got excited about cutting expenses, raising the saving rate 50% and more... never thinking about "what is my rich life". As a couple, hitting the 50% saving rate on a spreadsheet doesn't provide any kind of memorable moments. But when we started shifting my mindset towards "our rich life", it totally changed our relationship with money. We don't celebrate 🎉 🎉 our savings rate, now we focus on increasing the % we allocate to our CSP. This is where we live memorable experiences as a couple, vacations, going to a nice restaurant, a great stand up comedy show, spending a day at a spa resort.... this where the 🎉🎉 happens now... not the number on a spreadsheet.
Hello, I'm a small business owner, I make goat milk beauty products, soap, lotion, shampoo, body wash, bath salts, bath bombs. But I would love to get a shop put on our farm. I also am getting into rabbit fur blankets, hats, slippers. And would love to get a grant to start and all updated equipment to complete my business. Thank you *Pecuniary backd0ors* . Till next time. God Bless
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
You have changed my life. I’m 39 going on 40 this year and I finally understand my finances! When my wife and I get paid biweekly we truly look forward to watching all our money automatically go to where it needs to go. We were living paycheque to paycheque and had no idea where our money was, and where it was going. Somehow we now have money and don’t feel like we have sacrificed anything. Just realized what we really wanted in our life. I honestly hope to meet you one day to shake your hand and say thank you.
It's really sad this stuff is not required learning in the 12 years of education mandated by our governments. Thankful for the Internet for making information more accessible.
@@reaccionapr yea if you want to make it in this money shit you gotta watch whole videos closely, sometimes twice. he talks about what to do if you get paid bi weekly in step 3 in this video at 12:22. I'm on a bi-weekly AND low income and I've been using this system since I found Ramit in feb and its going pretty well and im constantly tweaking it to get closer to paying myself first, properly
When the paycheck comes be it as little $25 or as much as $1k just get started. You will never know how fast you will hit the milestone except you start. Invest too you will be happy you did pals
I just automate my pay to my HYSA which gets me 5.0% , Roth gets me 7.5 % and my main portfolio that gets me passive income basically serves as my second job. Diversifying is the way I get more it's better than just have it in my traditional bank that yields only about 0.01% which is useless
Traditional bank savings interest are just BS. I've couple saved up looking to have a proper investments. I've been doing research, do you have any leads ?
Paying myself first was a real game changer, on pay day savings first, then bills, then spend the rest, managed to save 15k in just over a year. Not a lot but more than I have ever had sitting in my account. This is after working for 11 years lol. Yes automated saving is the way to go.
How’d you go about following bills? My situation is I make good good money, but my bills are also ridiculously expensive. I get paid and I immediately put some away into savings. Pay my mortgage, truck, insurance blah blah blah, then of course electric comes up at $500, then heating oil and much more. It’s random too since I’m basically just paying what I can at that moment. Which seems to be how a lot of my bills go. I don’t spend money. I live frugal, I make enough money it’s just like timing is so screwed that I physically can’t seem to get it all paid and under control to start saving. Of course money has never been an issue for me until I got divorced. Then every penny I had ever saved was no longer mine and I got stuck with all the bills. No problem. Sold the house, all the toys and trucks, then been trying to get set up since then and I’m sure it’s something that I’m doing wrong but I can’t seem to figure it out and get everything paid on time, as well as saving some. I eat very well considering I harvest my own meat and grow my own vegetables. But sheesh, I still don’t have a savings account again
@@brandonmontemayor8178 Is there a way to lower the electric bill to start. Are you already using led bulbs, power strips to turn off at bed time. Then look at other utilities as well.
@@brandonmontemayor8178 you gotta lower your fixed cost, sir. definitely grab Ramits book. best 10 bucks you will ever spend. this video above deals with the timing issue you have too. you have to watch the whole thing and then watch it again. implement the techniques and if you really want to succeed watch the podcast
I am slowly, surely, and aggressively working on getting my financial life in order after 54 years of being totally self-employed and lost. Ramit, your book and these videos have been a huge part of making financial knowledge accessible and in fact inviting to someone like me. I can't thank you enough for your work!
Congrats to you. I had some prick young(25) I’m 33 white boy passively aggressively attempt to “check” me by commenting 5k a year or $14 a day is not a lot as a 25 year old. (I didn’t want to play the race card, or mention generational curses some have to overcome) Not everyone gets their finances together in their 20s, 30s, or 40s. Thank you for being open enough to share your experience.
@@truh_von_tay Thank you for sharing yours too! Those kind of shamining/dismissive comments can really undermine our attempts to get on top of this stuff. I'm glad you're sticking to it!
Automation was the biggest game changer I learned from your book! I have my paycheck split into 3 accounts on payday, 1 checking account for bills, 1 savings account for sinking funds and investing, and a 2nd checking account for spending money, that is also where I pay off my credit cards from. I don't have to do anything to make sure everything gets paid while I'm also saving and investing. Love the low effort of it all!
your system is like mine. ive seen ramit talk about only having one checking account and when Im making more I might do that, right now having two saves me a lot. im in an old building and they still have me writing checks. plus im low income lol
We just arrived here 🇺🇸 10 months ago, I thought we will be negative in our networth as we have a car loan. Our First loan ever!😅, we travel to other states, eat out like 2-3x a month and send money back home. Surprisingly, we stay positive and hit our 2 months worth of Emergency fund, have our joint account, match our 403B, start funding Roth IRA. Our annual income falls to the lower bracket and we don’t do extra shift coz we love day offs! It is the saving and spending awareness that matters. We spend only what we can afford. We use credit cards and paid it off monthly. Having cashback rewards from CC is a plus.
I truly appreciate that someone lines out exactly HOW to do this! A lot of people are just saying do x, y, z, but not very often do we hear anyone break down exactly HOW to do these things! Incredibly relieved to find out I'm already doing these things, but just not so structured. Appreciate the organization! Thank you!
this video was just suggested to me by "the algorithm". Great advice. I've been using a system like this for a few years. In your first flowchart, I would also add an HSA in addition to the 401K funded with pretax salary funds. And have the HSA funded so your paycheck schedule funds the HSA limit by the end of the year. Same philosophy with funding the Roth IRA. I have my contributions deducted from my checking account weekly at 1/52 of the annual limit to take advantage of dollar cost averaging. Also as far as contributions, I would say first meet your company 401K match percentage (pretax dollars), then max your HSA contribution (pretax dollars) then max your Roth IRA contribution, and then go back to increasing your 401K contribution as your budget and other savings goals allow. Keep in mind that your Roth contributions can always be taken out penalty free, so is essentially an invested emergency fund.
I think the message from this video is: DREAM BIGGER! If you like transferring money, okay...but what is it costing you to play that small? Are you having specific conversations about your savings rate / investment rate? (Most people who are stuck transferring money every month never do. They're trapped in the weeds.) Are you carefully designing your Rich Life? Or are you simply playing the same game you've been playing for 20+ years? Again, if you truly enjoy transferring money every month, great. But I've found that people who continue to do this keep playing small -- and I consider it a tragedy to live a smaller life than you have to.
One very helpful automation for me, since I get paid every two weeks, is to move half a month's rent into a rent-only savings account and I pay my rent from those funds. It's great knowing ahead of time that I won't have to worry about my checking account being too low to pay rent. Also, I've been able to save a buffer over the years with the occasional third paycheck in a month.
I live on Social Security first thing I do is put a set amount of money into savings ( 20%) pay all my bills the only thing I pay yearly is my real estate taxes the rest ( I get paid 3rd Wednesday ) I divide by however many weeks that check has to last that's my budget been doing this since May of 2020 works for me
I finally automated my investments, I’ve been doing it manually each pay period but after about the 97th video of yours I’ve watched telling us to automate our finances this video stuck and I made it so
I do this but I made sure to set up due dates for a few days after my payday so that there's a couple of days of buffer between the two in case something goes wrong with my direct deposit. So if you get paid on the 1st set up due dates for the 5th. I used to work in customer service for a major credit card and there were so many people who didn't understand that you can actually pay your bill early. So if you get paid on the first and your credit card bill isn't due until the 17th, it's not a huge deal. Just pay your card on the 1st or 2nd of the month. There is no rule that says you have to wait until the exact due date to make your payments.
I have learned so much in the past year reading your book and listing to your podcast at age 58 I finally got it all under control thanks to you. You made it all so easy to understand and now I'm investing aggressively. It's NEVER TO LATE Thank you
Got this as a suggestion from TH-cam and didn't expect to get blown of my mind with this routine. I'll switch my money management system to this routine that seems easier and better than my current one. Thanks!
Im pretty new to the financial world, but have been trying. I made a budget plan already and I place my spending money on a pre-paid card. Including subscriptions, etc., all my wants for spending. This really helped me. Now I have to make sure I start funding my vacation account.
I like this! I do something similar actually, where my paycheck is actually divided by payroll and broken out directly into my Fixed Expenses Account, Emergency Savings Account, Guilt Free Spending Savings account (like saving for vacations and w/e), and general checking. It's worked for me thus far! Just always re-evaluating to be sure I actually have the fixed expenses properly accounted for 😅 next is setting up automatic payments for most of my cards, already have it for my utilities.
I am currently reading your book and I've found this video...why are I SO ANXIOUS to automatically auto pay my bills??!!?? I usually spend Thursday Mornings going over my bills and paying what needs to be paid, I am going to try and let go of the control and use your Automated system!! 😬
I set my system up a while back but after a few unexpected life changes, I need to go back a reset a few things. The good thing about this system though, is even if its a little out of whach, I've still been able to save, invest and pay for essentials each month without fail. Once I refocus, I should be able to invest even more.
I just paid off my car loan last week and that created a ton of margin in my budget to put more to my last debt -my student loan. Also, I can save more and create a bigger buffer. I pay my credit cards every week. I’ve been doing it for many years and it has become second nature 😅 I do have automatic transfer through payroll at my job to send to my health savings account, which is nice because I don’t have to think about it. I’m definitely thinking about changing my due dates for my bills though
Wife and I have a ton of student debt to pay back so we built up a healthy (to us) high yield savings account and have stopped adding to it. Every month we have an automated investment in a brokerage account into a low cost index fund. We also max our 401(k). We venmo our landlord for rent. Then we aggressively apply the avalanche method to our student debt currently but we are considering buying a house so we may shift some of that to saving for a larger down payment.
What I like about this channel. is that clearly whatever you think about attracts more of the same. I daily review my richer life accomplishments...attracting more!
Careful to check what your bank does with their bill pay system. I had to switch banks because the bank I was with didn't deduct the check amount until the payee cashed the check. Sometimes the payee wouldn't cash the check for weeks and then SURPRISE!! Try to find a bank that will deduct the check the day you schedule it so the surprises wont happen.
The last section is super helpful for those of us who contract! It is always so difficult to find budgeting tips for those not on fixed income so thank you for including this super helpful section! :)
If your employer allows you to do allotments with your paycheck, you can have portions of your paycheck sent to other accounts automatically. I do this for my savings account and investment accounts. It works well and requires no action from me.
yeah i was thinking about that when i worked a regular gig. i work in the weed industry now so we dont even get direct deposit. but your mind is in the right place
Really love your vibe. I started to automate several billing payment to be automatically withdrawn from cc to earn cash back and that cash back automatically going to my high yield savings account. All while at the end of the month - my cc gets paid in full from my secondary checking account where I have a fix percentage going into for billing purposes only. This was an absolutely game changer, thank you. 🙏🏼
Been doing this for over 30 years with yearly spreadsheets. Each bill I pay make it bold in spreadsheet to indicate it's scheduled. Sheet shows the available cash known as "working around money" after all is paid. Plus tells me how much I need in retirement coming up in 5 years, Nice presentation
A lot of times you can send you paycheck to more than one direct deposit location. I do this with my regular savings along with retirement. Helps me skip the step of it hitting my checking account which, for me at least, help me budget and automate even more. Just A thought. Love the automated budget life.
Been doing this for years!!! Ive learned have different accounts with names, groceries, gas ect. And it tracks my spends easy. I prefer it than one bank account only.
Thank you for making this video. Funny enough I do all of these things already. I try to share these ideas with friends and family but they usually don’t listen. Now I can just send them this link.
Thanks Ramit for another great video. I bought your book and it motivated me and my husband to start investing. We live in the UK. So the investments have different names but i opened an isa and found a global index fund and we have started with that. We are late starter's in our 50's but we are not going to use that as an excuse. No one in our families has ever held investments so they can't help. So we have started with vanguard. I feel at least we will have a bit more for when we do retire and that will help. So thanks for pointing us in the right direction.
I know this video is a bit old, but I found it very inspiring! It’s something I’ve always had in the back of my mind to figure out, but being paid bi-weekly threw enough of a variable wrench in the mix that I haven’t set out to figure that part out.
I really like the idea of setting up a buffer and will probably go down that road. I kept watching your videos about automating money, but has been skeptical about it, because some of our bills are irregular in amount and timing. For example, most of our utilities are based on a 30-day month, rather then set date. Also, something like electric bill could vary between $90 and $150 depending on usage, weather, etc. Since me and my spouse have a joint checking account, that may be a perfect place to setup a buffer to ensure everything gets paid on time and my wife is aware of what payments are being made.
I've mostly done this except i alway prioritize "the buffer" as 3-6 months expenses and it is actually what I call my emergency fund. If I don't have this I focus every last dime snd energy I have into building it (outside my company match). I fund it like a mob is pointing a gun at my head to get it done. Once my efund is funded, THEN I go balls to the wall investing way past the match since I'm good to go even if I lost my job the next day. Currently, it's a year's worth due to contract work, but normally it's 6 months worth. I also used to do lump sums for my IRA at the beginning of each year, but now I'm switching to monthly DCA. I also do buckets for vacations, car, etc. now. Your vid made me clean it up a bit more as my cc's payments although always paid in full amd never late, had multiple due dates. Thinking kf combining for same dates or close to same dates. Thanks for the vid!
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I follow your methods to a "T," and yet I always find some cool adjustments I can make based on these videos. For instance, here I reviewed my bills and found some I could move earlier in the month to help consolidate my outflows from checking. Nice work!
Ramit--- This is God sent... I've been looking for something that works for me.. Listened to budgeting gurus and financial tips and tricks, but just wasn't helping. The idea in mind was what works for me--- single mom -- that needs to overhaul her finances, teach my kids to save now, create an AI system to do it for me.. I love the perspective you have am so grateful your video popped up in my thread... Where can I get advice to create a strategy to get me out of credit card debt---options using my equity from my house or the snowball/avalanche system?
I’m doing this! Automate savings account. This gives me stress-free monthly budgeting. The day after the payday, funds were already transferred to its allocated savings account. What’s left on my checking are just for the bills payment. What ever is left in the checking after all bills will be paid will be moved to the buffer fund.
Thanks for the helpful video, I get salary sacrifice through work. I have recently got that amount directly paid into my credit card, this is defiantly helping me pay it off quickly, and with money before it's taxed.
My, paycheck routine. Go to online bank on payday and move everything above predetermined level to secondary account. Good, done, see you next month bank. What is left has chunk automatically invested, automatically pays bills and what is left is enough for month's normal expenses with a couple hundred euro buffer. If I don't use everything (as usually) next payday has money above that preset limit and I repeat the process. The secondary account the "leftover savings" go to is for rarer large purchases, trips, sometimes extra investing on funds that are not open monthly, maybe cover losses if I choose to take unpaid extra vacation. (The paid 5 weeks isn't that much in the end. Goes just like that.)
i had to take a picture of the chart you had for my 22 year old with adhd. apparently i dont know what im doing as a almost debt free mom working 10-15 hours overtime every pay.
One thing I’ve always wondered since reading Ramit’s first book: Because we are paying our bills with the credit card, wouldn’t the credit card’s due date be the only billing date we need to adjust?
I indeed pay most of my bills via my credit union cc that gives 1.5% back on *every* charge (so I ultimately get a 1.5% discount on those bills), but some places charge fees if paid via cc, so those I auto-pay via checking.
Billing is typically more complicated than this. There's the close date and the due date, which can be anywhere from 2 weeks to 6 weeks apart. Best to just not live paycheck to paycheck so you don't have to worry about this at all.
Its not that hard. U set up autopay accordingly to match your pay schedule. You can pay bills before they’re due…. You just pick a day for the autopay. And some bills let you choose the due date anyway when u set up acct.
Billing is only complicated if you allow it to be. Also what does this method have to do with living paycheck to paycheck. I do something very similar but have my funds go in their designated accounts with direct deposit including investing & I have over a year of regular living expenses saved up. How does that equate to living paycheck to paycheck? I also invest almost 50% of my income. So I'm sure I don't fall in the category of living paycheck to paycheck; however, people need strategies in order to be successful. Also 6 weeks on a credit card is such a stretch. They're generally about 10 days.
Omg! I finally watch you on Netflix!❤. I need help!😢.. seriously at53..fail in restuarant business. Went back to work ,four year later we now started another business with everything we got!. No retirement savings 😢
Some bills when automated have limits on the date allowed. As a ssi/pension recipient that does not always line up with my income needs I have arranged many that work others I must do manually I simply set reminder on my phone/ computer to alert me T few days before and the day of due date. That has worked good for me. No more past due notices in my email! I like knowing where my money is going to keep budget on track. Slush fund too for emergency use!!
The 3 steps were very informative. I'm actually already doing almost exactly the 3 steps unconscious. Learning from other types of budgeting methods being combined and adjusting which suited be best 😊😊
What if you are a gig worker? Or a Waiter? Or self-employed? How do I manage money when it comes inconsistently. ie: varied amounts and varied number of days? Do you have a video for that? Or can you make one please?
Wow, this was so helpful. Especially that last section about adjusting this for those of us with an irregular income. Is it possible to make a video about how to make bigger plans for yourself and your family(marriage, education, building a home etc.) if you have a inconsistent income sources?
My paycheck arrives last day of month. ALL of my bills are due the next day on the 1st of the month. My investment and savings are also done on the 1st. I leave a checking account buffer equal to my average monthly expenses. Easy.
More power to you, being self employed is very challenging but very fulfilling and there is where you can see your true potential. It’s scary at the beginning but super simple once you get a workflow. For people reading this just getting into the entrepreneur lifestyle from a 9 to 5. Just used the schedule and apply it to your line of work. Also do not start a business with a loan, choose a net 30 instead.
Tip: if you’re employer allows multiple direct deposit accounts, you maybe able to automate your savings and Roth IRA investments before your money hits your checking account at all.
how can our guilt free spending be done on credit card ? how do we know how much we can spend and when we pay the bill how do we know whats guilt free spending and whats fixed costs spending. do i transfer from my guilt free spending to the fixed cost account ?
What advice do you have for tip workers? I'm in barber school now and I worry about not getting paychecks for the first time. Money acquired in drips and drabs and seasons of busyness and slowdowns. I'm already not great w with Money. Love your book! Thanks
I’m talking to a ton of people who make so much money but only allocate a percentage of it. One person said their take home was 60% of what it actually was and doesn’t account for where the other 40% goes. It would be great if they could specifically say where that money in their budget goes
Hey Ramit what do you recommend for someone who is Muslim and can’t invest in the stock market? There are “halal” stocks but they still have interest and I am more on the side that we do not accept nor pay interest.
Although you can’t pay the full balance, would you suggest paying the amount that would pay via debt card for groceries and utilities. Then use the CC to purchase/pay for those items?
Is all about having a conscious responsible mindset to protect your home, credibility, My grandmother always told me put away and save at least $50-$100 in *Pecuniary backdoors* . Every time I get paid ..As paying yourself as a bill put the money in an envelope that’s emergency cash for household and myself. take the rest of the pay and take care of your rent and your other expenses… thank you for this video is very informative.
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
My goal is to buy several of your books to donate to the library in my low-income neighborhood. This can be a game changer for people.
Very generous. Thank you
What a GREAT IDEA! It took me WEEKS waiting on the Library waiting list for Ramit's book! They told me there was only 2 books in the "system" and a HUGE waiting list!
Low income people dont read, they can read but dont. Sounds mean but its facts.
my goal is to sell you several books and articulacy inflated prices, , to help you reach your goal and feel more rewarded when you get their ,finally
You think ppl in low income neighborhoods read finance books?
I know you hate spreadsheets, but I love them. I have a budget for 6 major categories and check in weekly with my husband. I have 6 HYSA set up for different goals. I manually go in and do payments for CC and bills. We saved over $4k last month (50% of our income)🎉🎉
We do the same!!
I remember when I thought that saving 50% was the objective.. 😂 Now I realized that we never celebrated looking at our bank statement every month.. 🤷♂️
One thing I learned watching Ramit is that the focus shouldn't be on how great your saving rate is, but what % do you allocate to pursue your "rich life" as a couple....
I came upon Ramit when I was full on the "Fire/Frugality" movement. I got excited about cutting expenses, raising the saving rate 50% and more... never thinking about "what is my rich life". As a couple, hitting the 50% saving rate on a spreadsheet doesn't provide any kind of memorable moments. But when we started shifting my mindset towards "our rich life", it totally changed our relationship with money. We don't celebrate 🎉 🎉 our savings rate, now we focus on increasing the % we allocate to our CSP. This is where we live memorable experiences as a couple, vacations, going to a nice restaurant, a great stand up comedy show, spending a day at a spa resort.... this where the 🎉🎉 happens now... not the number on a spreadsheet.
Very cool. Which HYSAs do you recommend?
@@Roilan_Goldman Sachs Marcus is a great one
I’ve tried all the software and actually use some for years… I always go back to the good old spreadsheet.😆
Hello, I'm a small business owner, I make goat milk beauty products, soap, lotion, shampoo, body wash, bath salts, bath bombs. But I would love to get a shop put on our farm. I also am getting into rabbit fur blankets, hats, slippers. And would love to get a grant to start and all updated equipment to complete my business. Thank you *Pecuniary backd0ors* . Till next time. God Bless
76, broke, partially disabled, honorably discharged US veteran. No police record, no drugs, no alcohol, no tobacco. Need help so i can get a low income apt...once in have 1500 ssa, va to sustain myself. *_Strategic techies_* help appreciated. Thank you
My brother, you needed this! I already had ideas of raising my score. But I just found more ways because of this. *Pecuniary backdoors* are such a blessing, keep going frl!
I would say I don’t know how I find you on TH-cam, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *_Pecuniary backdoors_* . I thank God for this wisdom. Bless you.
You have changed my life. I’m 39 going on 40 this year and I finally understand my finances! When my wife and I get paid biweekly we truly look forward to watching all our money automatically go to where it needs to go. We were living paycheque to paycheque and had no idea where our money was, and where it was going. Somehow we now have money and don’t feel like we have sacrificed anything. Just realized what we really wanted in our life.
I honestly hope to meet you one day to shake your hand and say thank you.
It's really sad this stuff is not required learning in the 12 years of education mandated by our governments. Thankful for the Internet for making information more accessible.
@@verb0ze so many people would struggle so much less if they understood these concepts
Saaammnmne
@@reaccionapr yea if you want to make it in this money shit you gotta watch whole videos closely, sometimes twice. he talks about what to do if you get paid bi weekly in step 3 in this video at 12:22. I'm on a bi-weekly AND low income and I've been using this system since I found Ramit in feb and its going pretty well and im constantly tweaking it to get closer to paying myself first, properly
When the paycheck comes be it as little $25 or as much as $1k just get started. You will never know how fast you will hit the milestone except you start. Invest too you will be happy you did pals
The only investments people talk about are HYSA and Roth, I feel the APY is quite low.
I just automate my pay to my HYSA which gets me 5.0% , Roth gets me 7.5 % and my main portfolio that gets me passive income basically serves as my second job. Diversifying is the way I get more it's better than just have it in my traditional bank that yields only about 0.01% which is useless
Traditional bank savings interest are just BS. I've couple saved up looking to have a proper investments. I've been doing research, do you have any leads ?
I've got a mentor I follow that gives me advice on finances, it's been going out pretty well. Her name is Rachel Blanc you can look out for her.
Please share I can have a look at it
Paying myself first was a real game changer, on pay day savings first, then bills, then spend the rest, managed to save 15k in just over a year. Not a lot but more than I have ever had sitting in my account. This is after working for 11 years lol. Yes automated saving is the way to go.
How’d you go about following bills? My situation is I make good good money, but my bills are also ridiculously expensive. I get paid and I immediately put some away into savings. Pay my mortgage, truck, insurance blah blah blah, then of course electric comes up at $500, then heating oil and much more. It’s random too since I’m basically just paying what I can at that moment. Which seems to be how a lot of my bills go. I don’t spend money. I live frugal, I make enough money it’s just like timing is so screwed that I physically can’t seem to get it all paid and under control to start saving. Of course money has never been an issue for me until I got divorced. Then every penny I had ever saved was no longer mine and I got stuck with all the bills. No problem. Sold the house, all the toys and trucks, then been trying to get set up since then and I’m sure it’s something that I’m doing wrong but I can’t seem to figure it out and get everything paid on time, as well as saving some. I eat very well considering I harvest my own meat and grow my own vegetables. But sheesh, I still don’t have a savings account again
@@brandonmontemayor8178have you listed out all your bills and asked what could be decreased or eliminated altogether?
Automate your investment as well. You will thank me later.
@@brandonmontemayor8178 Is there a way to lower the electric bill to start. Are you already using led bulbs, power strips to turn off at bed time. Then look at other utilities as well.
@@brandonmontemayor8178 you gotta lower your fixed cost, sir. definitely grab Ramits book. best 10 bucks you will ever spend. this video above deals with the timing issue you have too. you have to watch the whole thing and then watch it again. implement the techniques and if you really want to succeed watch the podcast
I automated almost everything after reading your book. Changed my life.
I am slowly, surely, and aggressively working on getting my financial life in order after 54 years of being totally self-employed and lost. Ramit, your book and these videos have been a huge part of making financial knowledge accessible and in fact inviting to someone like me. I can't thank you enough for your work!
It's my pleasure!
Congrats to you. I had some prick young(25) I’m 33 white boy passively aggressively attempt to “check” me by commenting 5k a year or $14 a day is not a lot as a 25 year old. (I didn’t want to play the race card, or mention generational curses some have to overcome)
Not everyone gets their finances together in their 20s, 30s, or 40s. Thank you for being open enough to share your experience.
@@truh_von_tay just subbed to your channel. Looking forward to following!
im starting at 43. two months in and already seeing a difference. im also obsessed with learning so its fairly easy for me lol.
@@truh_von_tay Thank you for sharing yours too! Those kind of shamining/dismissive comments can really undermine our attempts to get on top of this stuff. I'm glad you're sticking to it!
Automation was the biggest game changer I learned from your book! I have my paycheck split into 3 accounts on payday, 1 checking account for bills, 1 savings account for sinking funds and investing, and a 2nd checking account for spending money, that is also where I pay off my credit cards from. I don't have to do anything to make sure everything gets paid while I'm also saving and investing. Love the low effort of it all!
your system is like mine. ive seen ramit talk about only having one checking account and when Im making more I might do that, right now having two saves me a lot. im in an old building and they still have me writing checks. plus im low income lol
Twin! 🎉😊
We just arrived here 🇺🇸 10 months ago, I thought we will be negative in our networth as we have a car loan. Our First loan ever!😅, we travel to other states, eat out like 2-3x a month and send money back home. Surprisingly, we stay positive and hit our 2 months worth of Emergency fund, have our joint account, match our 403B, start funding Roth IRA. Our annual income falls to the lower bracket and we don’t do extra shift coz we love day offs!
It is the saving and spending awareness that matters. We spend only what we can afford. We use credit cards and paid it off monthly. Having cashback rewards from CC is a plus.
Never read your book, but I use the system you teach. Always pay yourself first, savings, investments etc.
I truly appreciate that someone lines out exactly HOW to do this! A lot of people are just saying do x, y, z, but not very often do we hear anyone break down exactly HOW to do these things!
Incredibly relieved to find out I'm already doing these things, but just not so structured. Appreciate the organization! Thank you!
this video was just suggested to me by "the algorithm". Great advice. I've been using a system like this for a few years. In your first flowchart, I would also add an HSA in addition to the 401K funded with pretax salary funds. And have the HSA funded so your paycheck schedule funds the HSA limit by the end of the year. Same philosophy with funding the Roth IRA. I have my contributions deducted from my checking account weekly at 1/52 of the annual limit to take advantage of dollar cost averaging. Also as far as contributions, I would say first meet your company 401K match percentage (pretax dollars), then max your HSA contribution (pretax dollars) then max your Roth IRA contribution, and then go back to increasing your 401K contribution as your budget and other savings goals allow. Keep in mind that your Roth contributions can always be taken out penalty free, so is essentially an invested emergency fund.
I don't like automation for saving - i looove transfering the money myself. Its so rewarding.
I think the message from this video is: DREAM BIGGER! If you like transferring money, okay...but what is it costing you to play that small? Are you having specific conversations about your savings rate / investment rate? (Most people who are stuck transferring money every month never do. They're trapped in the weeds.) Are you carefully designing your Rich Life? Or are you simply playing the same game you've been playing for 20+ years?
Again, if you truly enjoy transferring money every month, great. But I've found that people who continue to do this keep playing small -- and I consider it a tragedy to live a smaller life than you have to.
One very helpful automation for me, since I get paid every two weeks, is to move half a month's rent into a rent-only savings account and I pay my rent from those funds. It's great knowing ahead of time that I won't have to worry about my checking account being too low to pay rent. Also, I've been able to save a buffer over the years with the occasional third paycheck in a month.
Same
I do the same thing for my rent. It gives me piece of mind.
Whattt this is a game changer. I will do this. Thanks!!
I live on Social Security first thing I do is put a set amount of money into savings ( 20%) pay all my bills the only thing I pay yearly is my real estate taxes the rest ( I get paid 3rd Wednesday ) I divide by however many weeks that check has to last that's my budget been doing this since May of 2020 works for me
So good you save 20%!!!
Exactly what I have done for years. It feels good.....and no worry in case something comes up out of the blue.
I finally automated my investments, I’ve been doing it manually each pay period but after about the 97th video of yours I’ve watched telling us to automate our finances this video stuck and I made it so
Has doing this changed the way you originally felt? i do it manually all the time but i've been hesitant to do it automatic
I do this but I made sure to set up due dates for a few days after my payday so that there's a couple of days of buffer between the two in case something goes wrong with my direct deposit. So if you get paid on the 1st set up due dates for the 5th.
I used to work in customer service for a major credit card and there were so many people who didn't understand that you can actually pay your bill early. So if you get paid on the first and your credit card bill isn't due until the 17th, it's not a huge deal. Just pay your card on the 1st or 2nd of the month. There is no rule that says you have to wait until the exact due date to make your payments.
I have learned so much in the past year reading your book and listing to your podcast at age 58 I finally got it all under control thanks to you. You made it all so easy to understand and now I'm investing aggressively. It's NEVER TO LATE Thank you
Great work!!
There’s no way your 58😂
There is no way you're serious. @@Enmanuel_V6
Shout out to your editor! Whoever it is, he/she/they deserves a raise! 😊👍
It is Xe/Xem/ Xyrs you biggot
It’s you! Lol. I agree btw
Got this as a suggestion from TH-cam and didn't expect to get blown of my mind with this routine. I'll switch my money management system to this routine that seems easier and better than my current one. Thanks!
Im pretty new to the financial world, but have been trying. I made a budget plan already and I place my spending money on a pre-paid card. Including subscriptions, etc., all my wants for spending. This really helped me. Now I have to make sure I start funding my vacation account.
I like this! I do something similar actually, where my paycheck is actually divided by payroll and broken out directly into my Fixed Expenses Account, Emergency Savings Account, Guilt Free Spending Savings account (like saving for vacations and w/e), and general checking. It's worked for me thus far! Just always re-evaluating to be sure I actually have the fixed expenses properly accounted for 😅 next is setting up automatic payments for most of my cards, already have it for my utilities.
I am currently reading your book and I've found this video...why are I SO ANXIOUS to automatically auto pay my bills??!!?? I usually spend Thursday Mornings going over my bills and paying what needs to be paid, I am going to try and let go of the control and use your Automated system!! 😬
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,
I set my system up a while back but after a few unexpected life changes, I need to go back a reset a few things. The good thing about this system though, is even if its a little out of whach, I've still been able to save, invest and pay for essentials each month without fail. Once I refocus, I should be able to invest even more.
Yes! Great comment. It's fine to recalibrate your system every so often. That's totally normal. Thanks for watching
I just paid off my car loan last week and that created a ton of margin in my budget to put more to my last debt -my student loan. Also, I can save more and create a bigger buffer. I pay my credit cards every week. I’ve been doing it for many years and it has become second nature 😅 I do have automatic transfer through payroll at my job to send to my health savings account, which is nice because I don’t have to think about it. I’m definitely thinking about changing my due dates for my bills though
Wife and I have a ton of student debt to pay back so we built up a healthy (to us) high yield savings account and have stopped adding to it. Every month we have an automated investment in a brokerage account into a low cost index fund. We also max our 401(k). We venmo our landlord for rent. Then we aggressively apply the avalanche method to our student debt currently but we are considering buying a house so we may shift some of that to saving for a larger down payment.
What I like about this channel.
is that clearly whatever you think about attracts more of the same. I daily review my richer life accomplishments...attracting more!
Careful to check what your bank does with their bill pay system. I had to switch banks because the bank I was with didn't deduct the check amount until the payee cashed the check. Sometimes the payee wouldn't cash the check for weeks and then SURPRISE!! Try to find a bank that will deduct the check the day you schedule it so the surprises wont happen.
jack asses for real lol
What is a good bank for this?
The last section is super helpful for those of us who contract! It is always so difficult to find budgeting tips for those not on fixed income so thank you for including this super helpful section! :)
If your employer allows you to do allotments with your paycheck, you can have portions of your paycheck sent to other accounts automatically. I do this for my savings account and investment accounts. It works well and requires no action from me.
yeah i was thinking about that when i worked a regular gig. i work in the weed industry now so we dont even get direct deposit. but your mind is in the right place
@@lowlowseesee do they pay you by check or cash?
Really love your vibe. I started to automate several billing payment to be automatically withdrawn from cc to earn cash back and that cash back automatically going to my high yield savings account. All while at the end of the month - my cc gets paid in full from my secondary checking account where I have a fix percentage going into for billing purposes only. This was an absolutely game changer, thank you. 🙏🏼
Been doing this for over 30 years with yearly spreadsheets. Each bill I pay make it bold in spreadsheet to indicate it's scheduled. Sheet shows the available cash known as "working around money" after all is paid. Plus tells me how much I need in retirement coming up in 5 years, Nice presentation
Okay, this paycheck routine is like a game-changer for real. No more 'oops, I spent too much' moments.
A lot of times you can send you paycheck to more than one direct deposit location. I do this with my regular savings along with retirement. Helps me skip the step of it hitting my checking account which, for me at least, help me budget and automate even more. Just A thought. Love the automated budget life.
Been doing this for years!!! Ive learned have different accounts with names, groceries, gas ect. And it tracks my spends easy. I prefer it than one bank account only.
Same different accounts for the win. I don't like mixing all the funds together.
Thank you for making this video. Funny enough I do all of these things already. I try to share these ideas with friends and family but they usually don’t listen. Now I can just send them this link.
That sweater looks really comfy
Thanks Ramit for another great video. I bought your book and it motivated me and my husband to start investing. We live in the UK. So the investments have different names but i opened an isa and found a global index fund and we have started with that. We are late starter's in our 50's but we are not going to use that as an excuse. No one in our families has ever held investments so they can't help. So we have started with vanguard. I feel at least we will have a bit more for when we do retire and that will help. So thanks for pointing us in the right direction.
@ramit words can not describe what kind of a wonderful person you are. Thank you for your time.
The phone call bit and "that's how you do it" was hilarious but it does work! Thanks for the tips Ramit
Love this guy !! Simple & straightforward, no BS with his tips 🙌🏽💰💰
I know this video is a bit old, but I found it very inspiring! It’s something I’ve always had in the back of my mind to figure out, but being paid bi-weekly threw enough of a variable wrench in the mix that I haven’t set out to figure that part out.
I really like the idea of setting up a buffer and will probably go down that road. I kept watching your videos about automating money, but has been skeptical about it, because some of our bills are irregular in amount and timing. For example, most of our utilities are based on a 30-day month, rather then set date. Also, something like electric bill could vary between $90 and $150 depending on usage, weather, etc. Since me and my spouse have a joint checking account, that may be a perfect place to setup a buffer to ensure everything gets paid on time and my wife is aware of what payments are being made.
I've mostly done this except i alway prioritize "the buffer" as 3-6 months expenses and it is actually what I call my emergency fund. If I don't have this I focus every last dime snd energy I have into building it (outside my company match). I fund it like a mob is pointing a gun at my head to get it done. Once my efund is funded, THEN I go balls to the wall investing way past the match since I'm good to go even if I lost my job the next day.
Currently, it's a year's worth due to contract work, but normally it's 6 months worth. I also used to do lump sums for my IRA at the beginning of each year, but now I'm switching to monthly DCA.
I also do buckets for vacations, car, etc. now. Your vid made me clean it up a bit more as my cc's payments although always paid in full amd never late, had multiple due dates. Thinking kf combining for same dates or close to same dates. Thanks for the vid!
Great content. I watched your Netflix series and was awesome as well.
Linking accounts..It WORKS. ..Makes saving and investing so much easier
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Her name is Mary Kaliope Braun’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
@@donovantobs
I read your book, but I didn’t realize it was you when I clicked on this video. Really great advice thank you!
I am SO thankful I discovered Ramit’s book late last year! I love his strategy.
I follow your methods to a "T," and yet I always find some cool adjustments I can make based on these videos. For instance, here I reviewed my bills and found some I could move earlier in the month to help consolidate my outflows from checking. Nice work!
Ramit--- This is God sent... I've been looking for something that works for me.. Listened to budgeting gurus and financial tips and tricks, but just wasn't helping. The idea in mind was what works for me--- single mom -- that needs to overhaul her finances, teach my kids to save now, create an AI system to do it for me.. I love the perspective you have am so grateful your video popped up in my thread... Where can I get advice to create a strategy to get me out of credit card debt---options using my equity from my house or the snowball/avalanche system?
I’m doing this! Automate savings account. This gives me stress-free monthly budgeting. The day after the payday, funds were already transferred to its allocated savings account. What’s left on my checking are just for the bills payment. What ever is left in the checking after all bills will be paid will be moved to the buffer fund.
Thanks for the helpful video, I get salary sacrifice through work. I have recently got that amount directly paid into my credit card, this is defiantly helping me pay it off quickly, and with money before it's taxed.
My, paycheck routine. Go to online bank on payday and move everything above predetermined level to secondary account. Good, done, see you next month bank.
What is left has chunk automatically invested, automatically pays bills and what is left is enough for month's normal expenses with a couple hundred euro buffer. If I don't use everything (as usually) next payday has money above that preset limit and I repeat the process. The secondary account the "leftover savings" go to is for rarer large purchases, trips, sometimes extra investing on funds that are not open monthly, maybe cover losses if I choose to take unpaid extra vacation. (The paid 5 weeks isn't that much in the end. Goes just like that.)
I have adopted a hybrid of You + Dave Ramsey financial philosophy, lol. It's a great fit for me :)
Ramit, keep up the outstanding work man. I love your channel.
Thank you
Love these videos better than when you do the videos with the couples. Keep it coming
i had to take a picture of the chart you had for my 22 year old with adhd. apparently i dont know what im doing as a almost debt free mom working 10-15 hours overtime every pay.
Love that colour cashmere sweater on you
One thing I’ve always wondered since reading Ramit’s first book: Because we are paying our bills with the credit card, wouldn’t the credit card’s due date be the only billing date we need to adjust?
I indeed pay most of my bills via my credit union cc that gives 1.5% back on *every* charge (so I ultimately get a 1.5% discount on those bills), but some places charge fees if paid via cc, so those I auto-pay via checking.
Billing is typically more complicated than this. There's the close date and the due date, which can be anywhere from 2 weeks to 6 weeks apart. Best to just not live paycheck to paycheck so you don't have to worry about this at all.
Its not that hard. U set up autopay accordingly to match your pay schedule. You can pay bills before they’re due…. You just pick a day for the autopay. And some bills let you choose the due date anyway when u set up acct.
Billing is only complicated if you allow it to be. Also what does this method have to do with living paycheck to paycheck. I do something very similar but have my funds go in their designated accounts with direct deposit including investing & I have over a year of regular living expenses saved up. How does that equate to living paycheck to paycheck? I also invest almost 50% of my income. So I'm sure I don't fall in the category of living paycheck to paycheck; however, people need strategies in order to be successful.
Also 6 weeks on a credit card is such a stretch. They're generally about 10 days.
You’re incredible !!! Thank you so much for this, it’s THE video that we all needed
Hi, Mr. Ramit I'm in Costa Rica just want to say Thank You for an awesome channel.
Ramit thank you. More videos more often pls....
This is excellent advice, especially for young people.
Your videos are such a blessing, so glad they came up in our algorithm!!! Thank you! -josh&kari
Omg! I finally watch you on Netflix!❤. I need help!😢.. seriously at53..fail in restuarant business. Went back to work ,four year later we now started another business with everything we got!.
No retirement savings 😢
Best budgeting video EVER!! Thank you!
A little off topic, but where are these sweaters from? They look fantastic.
Some bills when automated have limits on the date allowed. As a ssi/pension recipient that does not always line up with my income needs
I have arranged many that work others I must do manually
I simply set reminder on my phone/ computer to alert me T few days before and the day of due date. That has worked good for me. No more past due notices in my email!
I like knowing where my money is going to keep budget on track.
Slush fund too for emergency use!!
Heard this guy on the ceo pod. Already ordered the book. Never cared about money til now lol
Thank you for this very useful video. I just finished setting up my new system.
The 3 steps were very informative. I'm actually already doing almost exactly the 3 steps unconscious. Learning from other types of budgeting methods being combined and adjusting which suited be best 😊😊
Thank you for the idea of changing payments dates! That's very useful! 🙏
What if you are a gig worker? Or a Waiter? Or self-employed? How do I manage money when it comes inconsistently. ie: varied amounts and varied number of days? Do you have a video for that? Or can you make one please?
I actually do this now and it’s working really well for us!
Watching in Netflix has opened my eyes!
This almost sexy to listen to 😂. The budgeting for dummies video we didn't know we needed 💪
Wow, this was so helpful. Especially that last section about adjusting this for those of us with an irregular income. Is it possible to make a video about how to make bigger plans for yourself and your family(marriage, education, building a home etc.) if you have a inconsistent income sources?
I'd recommend my book and Money Coaching program: iwt.com/moneycoaching
My paycheck arrives last day of month. ALL of my bills are due the next day on the 1st of the month. My investment and savings are also done on the 1st. I leave a checking account buffer equal to my average monthly expenses.
Easy.
Thank you for sharing this video . I’m new to this channel and have learned tons from just watching 1 show a day.
More power to you, being self employed is very challenging but very fulfilling and there is where you can see your true potential. It’s scary at the beginning but super simple once you get a workflow. For people reading this just getting into the entrepreneur lifestyle from a 9 to 5. Just used the schedule and apply it to your line of work. Also do not start a business with a loan, choose a net 30 instead.
Great video!… Thanks!
I have watched several of your videos this weekend. I’m going to buy your book!
Tip: if you’re employer allows multiple direct deposit accounts, you maybe able to automate your savings and Roth IRA investments before your money hits your checking account at all.
Unless you're over the threshold for Roth and have to do it at one time but can still put it in a HYSA until you accumulate the total.
how can our guilt free spending be done on credit card ? how do we know how much we can spend and when we pay the bill how do we know whats guilt free spending and whats fixed costs spending. do i transfer from my guilt free spending to the fixed cost account ?
What advice do you have for tip workers? I'm in barber school now and I worry about not getting paychecks for the first time. Money acquired in drips and drabs and seasons of busyness and slowdowns. I'm already not great w with Money. Love your book! Thanks
I’m talking to a ton of people who make so much money but only allocate a percentage of it. One person said their take home was 60% of what it actually was and doesn’t account for where the other 40% goes. It would be great if they could specifically say where that money in their budget goes
Finally the video i was looking for, from step one.💯
For the automation my question is What is your pay is every two weeks not necessarily on a specific date of the month?
Where do you recommend investing? I would love to get a video about investing (for Canada if that makes a difference. )
Hey Ramit what do you recommend for someone who is Muslim and can’t invest in the stock market? There are “halal” stocks but they still have interest and I am more on the side that we do not accept nor pay interest.
By 0:48 I was ready to click your link for the free audio book and pay only $14.99 for 3 bonus courses. 😂
I love these smaller videos
Although you can’t pay the full balance, would you suggest paying the amount that would pay via debt card for groceries and utilities. Then use the CC to purchase/pay for those items?
This is an amazing n simple system🙏🏿💯