Everything I purchase, I translate into how many hours of my life I would have to work for said item, as opposed to it being a “measly twenty bucks”. If I’m not going to throughly enjoy my purchase for 2x the time of what it had cost to purchase, it’s just not worth it. This mindset alone has allowed me to become more frugal and overcome my struggle with finances.
Mine is this: Take your money at the begining of each month and put a small amount away. Pretend it never existed. :) At the end of a year you will be surpized!
For me, I like to budget. I set savings and sinking fund goals monthly, subtract fixed and work around that for flexible such as food, entertainment or personal allowance. I love MSExcel! Lol I categorize expenses monthly that automatically link to a 12 month trend chart. In fact, I also love to meal plan…on a spreadsheet! I have my pricebook linked to my recipes. I have done this because of rising food prices. I can see which meals to choose when I meal plan and how to plan for special occasions. I am building a prepping pantry to supplement my working pantry if things get too tight by taking advantage of good or acceptable food prices weekly.
When I break a bill for a purchase, I save the coins in a jar.....when there are sufficient to roll I collect up the rolls and place them in my no-touch savings account.....I have literally saved hundreds of dollars....the key, however, is to not touch the coins.....at all....and not touch that savings account either ..... some discipline needed but it is truly worth it !!
I'm about 40k in debt but I'm digging my way out slowly but surely. I've stopped eating out and buying clothes, and in the last two months I've made over 2k in progress. Slow and steady!
That's excellent progress, hang in there and when you feel a whiny mood because people have shit and you don't, shut your eyes tightly and stop comparing. You're climbing a mountain one step at a time. For me it was $55K
I’m a fellow debtor, with student loans included, it’s about a 120k. I’m mad at myself BUT I got a second job to dig my out. I’ve paid 2K on my debt so far in one month so far. Slow dig. Also want to say keep going you can do it.
Treat saving like a bill. We have no issues paying out car notes, phone, rent, mortage. If we prioritize saving like we do food then we'd have much more success. Thanks for the tips
I try to limit purchases of processed foods. Example, instead of buying frozen French fries, I buy 10lbs of potatoes, chop them into French fries, put into ziploc, add spices, shake, and freeze. Now I've got frozen fries ready whenever I need them! Buy a big freezer and use it!
I saved 13k this year and I make 40. It can be done, and it can be done easily while you still allow yourself to have fun too! The key is just not needing that 10k. If your bills are so high or your income is so low that 10K is essential income, it'll never happen. Either make more money or spend less money For example, now that prices on gas, groceries, rent, and everything else have gone up so much, unless things go back down this is not something I would be able to duplicate next year. Don't beat yourself up if you can't get there. I find it's usually not an issue of budgeting but rather an issue of the money not existing
Thank you this is very inspirational. I am on the same income and will do more to save and increase income. Addressing my thinking and my faith at this time... I've been on Cobra insurance and it's half my rent, but I have no right to complain as it doesn't help my situation. As the Good book says "If you believe all things are possible to those who believe." And not believe what my physical eyes see!!
A friend of mine that is a financial advisor started me on my debt free journey simply by telling to write down my savings and checking balances at the beginning of every month and then comparing it to the previous month. Same for credit card balances. Did they go up or down? I automatically started writing down what caused them to go up of down. Then I worked to correct any bad behavior and improve on my good behaviors.
I was gonna start a weekly balance check this weekend. Decided not to. Because today is Monday and what better day to start a weekly check than the first day of the week! Why put off to tomorrow what I can do today?!
Yes! I was going to put that too. Meal planning! Stop buying take out or going to restaurants unless it’s a special celebration or you’re out and about.
My husband and I buy snowmobiles in the spring and sell them in the fall…we make $1000-2000/machine. We do the same with watersport machines - buy in the fall and sell in the spring! It helped my husband buy an airplane with cash😊
@meganhamlyn1694 did you guys have to maintenance/fix up snowmobiles and jet skis or were they already running good and you profited just by selling for more than you paid?? Thank you!
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My mentor, "STACIE KRISTAL WEBER" who has witnessed hundreds of market cycles over the past three decades, taught me this. She has an intuitive understanding of how things move, why they move, and what will happen next.
My side hustle is door dash. I make about 200 extra a week after gas expenses. They also give you a debit card that pays 10% cash back on gas station purchases. It was 2% but they raised it when the gas spiked recently. I save my rewards as extra savings. When they hit 50 bucks I cash them out and put those in my savings or stock account as well. But even just 200 a week is your 10k, so I strongly suggest that avenue if you have a reliable vehicle. Also, I could easily make 300 a week. I'm just lazy and between that and my regular job, I like to take more days off.
@katrina that is a great idea! I DoorDash from time to time and for everyone asking if it’s lucrative, still? I say yes! Tip: don’t accept just any order(s)! Calculate the miles to trip ratio (helps maintain gas & also, increases your overall funds while dashing). Another tip is to monitor the hotspot times and check for increased bonus areas. Hope this helped 🙏🏾
By following this practice; *(Being frugal , Investing and staying positive),* and by working with a *financial planner,* I achieved financial independence.
I am extremely delighted to see Mr. Donald Nathan Scott’s name mentioned here. It’s been three years and I vividly recall my experiences with him. My accomplishments and success became a reality working with him.
It’s hard to find someone who can be trusted with money but having encountered Donald Nathan Scott and his services, I’m convinced that good people does exist. I’m not there yet , but certainly I will boast of a *Skyscraper.*
Stock's are crashing, Bitcoin investments Right now will be at every wise individuals list, in a month you will be ecstatic with the decision you made today
I was laid off at 53 and was easily able to retire after an excellent life that included prioritizing saving. We have a modest house, but don’t need to downsize with kids now gone. Our cars we bought new but kept for about 14 years on average. We paid down our mortgage a bit extra every year, which makes sense in Canada since it isn’t a tax write off. We buy older models of phones. From the other end of our careers as older people, I can say that your advice is great, and totally worth the effort.
How nice you didn't have a child with major disabilities that has kept you in medical debt for 27 years and counting. Go ahead and pat yourself on the back because life was easy foe you 😡😡😡
Getting rich off crypto is much tougher than it seems. I keep losing money while trading with these youtub videos, and finding a trustworthy professional trader to help out with these trades also appears to be nearly impossible. This is extremely annoying
In any market, in any country, there are developers who make money. So I say all of this doom and gloom, but there will always be people who make money, because people always want homes
One thing I tell everyone is learn about real estate. Repeat after me. Real Estate provides the highest returns, the greatest values, and the least risk but you have to be patient
According to Elon Musk", Since I’ve been asked a lot: I will always advise, we buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
So many things! 1. I'm so excited I found your channel it's amazing. 2. Minimalism has helped me save money 3. I don't want to be zero waste...but cutting down my waste has dramatically cut down my spending and reckless impulse buys.
Hey Sir, why not start that channel??? There are many people who might want to improve in that area and would benefit. Personally, I appreciate proper spelling, pronunciation and usage of words, that's just me, lol. I accept that it's not as big of a deal to others but, secretly, would love to know why, lol 😉
I'm 13 and my mom works at a bank, and she opened an account for me. I have a summer job and I make 10/hour and I only work weekends like Friday and Saturday normally from 2pm-11pm. She opened the account for me around 6 months ago and I only started putting money in around 2 months ago. As of right now I have 916. I have only spent money on little things like snacks, accessories, etc., but for the most part I put all of my money in, and what I'm hoping to do is put all the money I get in from like birthday money, Christmas money, chore money, work money and what ever else I get, then use the money when I am older to buy things. I have been using strategies like these since I started saving and this has actually really helped! Thanks for the tips!
I'm going to sound like an old person in saying this, but you'll never have less bills than you do right now, so good on you for saving while it's relatively easy! It will set you up for using money wisely when you have to pay all your own expenses. I had a "saving" mindset in my childhood and teens, and having that emergency money that I'd built over years helped get me through some tough times during college.
@honeybeepl open an account on a bank that gives you high returns. Min 2:37 he has an account at Yotta bank. I just started and I’m very happy! It is FDIC insured
I love side hustles! I used to flip items and it was so much fun and rewarding. I had to give it up to be a stay at home mom but one day I’ll go back to it. I tried to continue in my current situation but it just isn’t possible to cook, clean, take care of a toddler and myself and flip things. So budgeting and reducing our grocery bill is something I can do!
So relatable I had $6k saved up then I got into a car accident with expired insurance Due to my brother not telling me it was expired now I owe $12k and I was saving for a BMW 😿
Ive recently been going full on Cheapskate,I came to a conclusion i was buying about a gallon of water every 2 days to drink,That was at least $180+ a year so i just bought a sawyer water bottle with filter for tap water for $19.99. Its rated up to 100,000 gallons so i may never be buying bottled again
I was laid off at 48 during pandemic. I’m having a hard time finding a main hustle much less a side hustle. I’ve been told on down low it’s my age and experience- a new grad is much cheaper. So frustrating then rent and food costs go up
Another tip: Look around in your apartment. You might have a lot of stuff that you don't need anymore that you can sell. If you don't know what you need and what you don't need, put everything into boxes. Everything that you got. And when you need something, take it out of the box. Everything that's left after three months are things that you don't need.
Try saving money every single day, doesn't matter how much just do it-before you even notice time 5months passed already cause time flys fast and by than you'll have crazy amount of money I save mostly with dollar bills it sure does help me allot
That's kind of a scary statistic that such a big percentage doesn't even have $1000 in savings. Really great and simple keys, I've operated on direct deposit into a dedicated savings and it helps keep me honest
I’ve been completely debt free for 16 years now! I’ve actually managed to budget my way down to $0 per month required spending. Hopefully I can keep this up when I become an adult.
This is very doable. Lots of times we buy things we don’t really need on impulse. I had been catching up on credit debts. Now my income can be used to save and he pays 80% of the bills we can achieve this easily in a year thanks for the enlightening information.
Honestly. This is like 80 percent easier while living in a first world country. South Africa on the other hand is not that simple . Currently watching the minimalist series. Love it. Going to start implementing that soon
Yet so many will be stuck mentally in woes. If you have the mentality/discipline you will achieve it, though there is more obstacles in South Africa never give up!! Infinite opportunities just be open to them
I also agree with this statement...Especially with the rising costs and petrol prices going over minimum wage per litre. But I'm going to try to save up a sum to invest because my last lump sum went towards my studies
Yip South Africa 🇿🇦 has become a lot more expensive and challenging for a large portion of our population. Living expenses vs increased cost of essentials is challenging world wide.
@@CarynPretorius best thing you can do is complete the studies and get out. Nothing here for any of us anymore. I hope to leave with my fiance and son in the next 2 years hopefully. She is a teacher and I have a small private lawn care company and grow Microgreens for local restaurants and we can't survive with basic needs like vehicle and medical aid. Can't even afford our own private place to live. So we want to get out and move to new zealand. It's expensive there yes but we are used to such a mediocre standard of living that we will be fine there. Not to mention the safety there taking the strain off of everyday life
I always had trouble saving, at the end of a yr I'd realize I only saved maybe 1/2 or less or nothing of what I wanted to. Taking a lump sum every pay aside to another account was painful + didn't often happen. So a few yrs ago I did a budget crunch, figured out how much I had after expenses to spend every day as managing what I spend in a day is doable for me. Got the figure + decided to put aside $20 a day of that money into a savings account, that way I wouldn't feel it. It worked! Just got a raise so starting tomorrow I'm going to put $27.40 aside.
I recently got into the youtube financial niche, and I’ve taken a deep dive into investing, particularly in stocks, and ETFs as they interest me. Tried several methods trying to figure out the best approach to building my portfolio. So far, I’m making progress with the help of an astute fiduciary. I’ve been able to compound over $78k in profits from my trades. Back to the video, wonderful job there, always look forward to your next content.
@Akina M OtienoFor me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
Putting money into profitable assets has always been top priority that’s why I invest because it affords I and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising to see the rate at which I’ve had consistent growth. Even got my third payout last week. Real stand-up guy.
I have paid off my mortgage, and have enough saved in my emergency fund before hitting 40 next month. And by God’s Grace I invested two-third of my salary in stocks, ETF, and bonds. Over time my investments have yielded a little over $92k with Sir Jonas’ help. Looking at building a robust retirement in 2 to 3 years time.
Just subscribed hope you get to your goal someone posted this “making money is action, keeping money is behavior. Growing money is knowledge” well said I’m 38 and learning the growing part
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Minimizing bill expenses, like unplugging items to only using air conditioning and heat when necessary... To know for sure how much cleaning products to use. They will all help save that money. I really started doing extra just to try and save $5-20/month just on my water and electric. Etc. Then so on.
I like your style. I work extra as much as I can. Just started realizing that in my field there's plenty of OT. So the Ot gets put in high yield savings account. Just live below your means. Get rid of debt first as soon as possible. Otherwise no saving will take place. Write it down is the best advice. You have to see it layed out before you. I was spending on take out food every week a few times. Coste a $100 Xtra a week. It's crazy how simple it can be. Starting is hard but can be done.
It's funny, the most important thing you said in this video are to write down the days wins and then tomorrow's wins. However, I would like to tweak it slightly as I am going to start doing this modified practice tonight. I have ONE and only ONE goal I am going to focus on. I am going to write down my ONE goal everyday in script, then today's wins in terms of this goal and tomorrow's wins that bring me closer to that goal. And I will keep score to see how I am doing. The numbers always tell a story. Thanks for the tip!!
The whole side hustle thing is frustrating. I’m just not one of those people for whom ideas like what to hustle at, comes readily available to me. I barely can hang onto the work I have. Plus manage the rest of the responsibilities I have. Plus feel like I’m not burning the candle at both ends. It’s just not that easy to suddenly say to the universe “ooo, I could do THAT and make an extra 400$ a month!” I can’t be the only one out there feeling this way. It works for some, but only if they’re presented with an opportunity.
I totally understand where you’re coming from. I am someone who pursued just a really good salaried paycheque from a job I find meaning in instead of a side hustle. But regardless of that, quality of life should always be prioritized and I think this is different from person to person. That said, if your side hustle can be something you are truly passionate about (ie find a way to monetize your hobbies), it can definitely work.
Also not everyone has something they are good at or if they do it isn't something marketable like touching your nose with your elbow. "Just start a side hustle" isn't really that great of advice
I love that all of these money saving videos are like "oh you need to save money, well all you need to do is stop spending 27 a day on non essentials and then guess what you have money. Like...no not everyone is buying lunch every day and flittering their money away. This isn't a helpful tip it's just saying "how do you save money? By already having it"
You break things down well and explain how little things add up. The thing that makes me cringe time and time again is when financial advice is "start a TH-cam, start a social." You may consider yourself a success but the percentage of people that earn from social is so small that it isn't realistic for most of the population.
the key is cash flow...you need to increase your cash flow ... there are a large number of side hustles you can do. I like to flip furniture. but you could uber, door dash. sell shit on etsy or FB marketplace.
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Sound advice. My tip: if you live in a state with can and bottle deposits, pick those up whenever you'rr walking and see one. Carry a plastic bag in pocket just for these. They add up! My state pays .10 ea. They really add up. Save receipts to add up your total win. It's free!
I am starting to be very conscience about money as it is extremely important in life. I have a goal of reaching about 10k like the sir said in the video in 1 year. I will realistically aim a little lower than that because I have many bills. After I do my back breaks and a new front tire, I should be pretty set to be able to put money away between January-May this year
When you go to buy something ask yourself “do I need this” if the answer is no don’t buy it and put what the item costs into saving account. You will be shocked how much you save and would have wasted
Thanks for saying no budget. Something blocks my mind from that. I would much rather spend the time, energy, bandwidth on writing down what my financial goals are and reminding myself why I don't need that fast food or clothing item on repeat.
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you are 42 % more likely to achieve your goal if you write it down before you decide where the money is going to come from DECIDE where its going to go when you get it or it will go as fast as it came
Needed some advice because I’m in a stagnant place paying debt and trying to save simultaneously I’m so happy to find out I’ve been doing all these steps already thanks for the reassurance great vid
6:35 Oh, now we come to my point all along. To quotee you :"Saving money is 30% more efective than just earning some extra money". Those are some big ass percentiges right there. I sure wouldn't wanna borough money at 30% intrest, just through that lence you can see how big of an impact saving money and living frugaly makes.
I occasionally "ground" myself. I have a few days where I don't buy anything or drive anywhere except to work and back. Some people say it's boring, but I look at it as a challenge to find free fun things to do.
It seems that you don't like the term "budget," but everything you described is...a budget! You track all of your income as you earn it and decide where all your spending and savings will go. That's budgeting :D
Maybe he means strict budgets where you actually allot yourself so much for everything. Those are harder to follow. Sometimes you just really want that meal out even if it puts you 2 bucks over your budget. I have never been able to follow a budget like that. I set my savings goal and pay myself first, then what I have left after bills I decide what I want to spend it on. That works better for some people. The main thing is paying yourself first. The rest you can be flexible on.
@@katrinamillings3651 Then he doesn’t understand what a “Budget” is. A budget is just a $ plan meant to keep you in line with YOUR goals. You can then track actual spending to see what is really happening to your money and reassess your goals to see if you need to adjust your plan or your spending. It helps to know what your goals are in order to reach them.
@@dpayne1943 Yes, a budget is just a plan for where the money goes that will ideally line up with your own goals. Having a goal says nothing about where you're going to wind up after following it for years.
Supporting this channel. I stand firm on not wanting more and making the decision to not have coffee (or calories) to save my money eventually got me paying off my home loan sooner than I imagined. Plus of course a big help on my side hustle.
Good video, I have a full time job, married and have 3 kids. So saving money is hard. But one thing that I was able to do to get extra money is turn a hobby of mine which is comics into a side hustle. I took my love and passion of comics and now whenever I get a chance I go looking for comics on the cheap that I can flip to make some extra money. This works for me as it is something I like to do and doesn't feel like work. I would tell people to look at your hobbies maybe you can turn that into a side hustle. Thanks for the tips on saving money.👊🏼
How do you keep saving when your income drastically decreases? For example going back to school or job loss? I like the suggestion to not use budgets,because my financial situation changes constantly!
The habit is more important than the amount. If you can only put $1 a day away that's fine or even if it's just $0.25. It may not seem like a lot but it will add up and when you do start making more money again then the mindset will be engrained and it'll be so much easier to increase the amount instead of introducing a new budget category.
Agree with Jenna. I have an account with a bank (3.5% interest) and I put a “zero out” amount in there weekly. Basically, if my regular bank account says “$221.71,” I put the $1.71 in it to have zeros at the end of it. Even those small amounts weekly add up. I am already at about $50 saved just because of this.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
Great video. We all need to save for what's coming. I once saw my father bury a Mason jar. He covered it with dirt and three other holes he had filled in. Then he got on the tractor and pulled his rusty old truck over it. Each hole was then covered by a pittiful looking flat tire. My father was pretty smart. I imagined there was money all over the property and of course assumed we were so rich my that my father had money he didn't need.
I work a full time job of 53 hours a week and on my off days , I clean houses making an average of $600.00 additional income per a week which goes into a high yield savings account. I have started on rental investments and looking for a investment property to Air NB to travel professionals . I am in the process of purchasing land for other business ventures . And working on merchandise to sell on other plat forms for income. I am very frugal when it comes to travel and dining out. I will order an appetizer and water and enjoy the free bread with olive oil with a appetizer and leave filling full and happy , I save money and enjoy an evening out without the high cost of a big meal. I look for travel discounts and nice hotels with discounted rates and travel very light with a carry on bag or a packable backpack my hopes are to start a you-tube channel this year on travel and how to travel cheap but live big. Love your vlogs GABE keep up the great work!!!!!! I have followed you for 2 years now and always love watching your vlogs.
Saving for a car but personally I do envelope challenges because since I dont have a car it’s easier for me not to spend cash I started January 17th now I have 700 saved up towards my envelopes which will go towards gas and insurance it’s been super helpful with me I’ve been thinking about a side hustle tho sounds like a great idea
I trained myself years ago to stay comfortable in lower temperates in my house. 17°C /62°F with outdoor pants and 3 wool layers I am fine. cashback 800.-€ in the first year and saved ever since
I was a good student in high school and college and I tutored students in Math and Physics that were in the previous grades. Whenever I was learning something new , I was already on the mindset of "I need to understand this well enough so I can later explain it to a student". This helped me study and it was super profitable as I was earning 20€/h from tutoring.
It’s even harder being first generation with no knowledge on financial literacy , I will be the one breaking the curse on my family . I’m omw to my first 100k with Instant profit🖤org , hopefully everybody watching this video gets to that point
I agree with everything you said in this video EXCEPT your advice NOT to make a budget. If you don’t track what bills &/or debt you need to pay & how much money you have to pay those bills/debt? Or how much money you have to save to get to the goal of $10k in the year?
I think the biggest mistake most folks make is making an unrealistically tight budget. So if a budget is your thing make sure to allow enough for food (try to cook most of the time) , clothing (thrifting maybe) or fun (budget type things can be just as much fun ie a bbq at the park with friends vs expensive concert tickets), etc. And when you get some unexpected money, save a lot and pay down debt also.
Coffee in my neck of the woods is over $5.50 a cup very seldom anything less than that. Clothes are more than that lunches $15-$25 a day. Everything is climbing up quickly making coffee at home is a great idea and also eating lunch at home and taking lunch to work. Start searching online for different types of recipes where you can make a crockpot meal or oven meal to eat off of for three days or six meals. You could save money a whole lot quicker by doing what you’re talking about. Good suggestions keep up the good work, Gabe.
It’s so nice seeing that I’m hitting most of these goals already. This was even before getting into finances in general. With just research on my own. It’s only this year I started to really try to save and invest. It feels good especially with the high interest savings goal.
Love your videos. Not only are they educational, they are inspirational and funny! Thanks for all your effort in putting them together. As a new TH-camr I can truly appreciate the work that you invest. P.S. Intro text graphic should be “their” not “there” in case you want to correct. ;)
True I had list on fridge of home improvements I scratched off each one at a time. I started paying myself. I taught others to payoff debt. Had friend left with 30k cc debt x wife. He got it paid off in a year.
Best bit of money advice I got. Pay your self first. NOT bills etc. The firsts 150 gets changed into largest denomination eg, 100 dollars, 50£ or 100euro notes. These are difficult to spend normally. So in 14 months I’ve got 5k. Great from someone who has the saying in family of its like water running through his hands.
I am currently obsessed with your videos. I’m saving all the money I can, starting with all the. Only I’ve saved being part of the NHS in England. Every time I shop, I put the money saved in a tin, till the end of the month. Low/no buy this year. I do have a family savings account and some shares, which can be sold a couple of times a year. Thanks for the wonderful advice. Lesley England x
My husband and I have 5k saved, we act like we don’t have it. We save most of our change too. We reuse our empty mixed nuts containers from Costco as piggy banks lol we’ve been saving since 2020 and have managed to fill up a full one every year since then. My husband is a barber he usually works 6 days a week and charges $30 a haircut. If we can save the money from one haircut per day including the 1 day off just double one of the days. We can save 10k easily. I just sent him this video. Thank you for sharing this!
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What are your money saving tips?
Everything I purchase, I translate into how many hours of my life I would have to work for said item, as opposed to it being a “measly twenty bucks”. If I’m not going to throughly enjoy my purchase for 2x the time of what it had cost to purchase, it’s just not worth it. This mindset alone has allowed me to become more frugal and overcome my struggle with finances.
Mine is this:
Take your money at the begining of each month and put a small amount away. Pretend it never existed. :)
At the end of a year you will be surpized!
For me, I like to budget. I set savings and sinking fund goals monthly, subtract fixed and work around that for flexible such as food, entertainment or personal allowance. I love MSExcel! Lol I categorize expenses monthly that automatically link to a 12 month trend chart. In fact, I also love to meal plan…on a spreadsheet! I have my pricebook linked to my recipes. I have done this because of rising food prices. I can see which meals to choose when I meal plan and how to plan for special occasions. I am building a prepping pantry to supplement my working pantry if things get too tight by taking advantage of good or acceptable food prices weekly.
When I break a bill for a purchase, I save the coins in a jar.....when there are sufficient to roll I collect up the rolls and place them in my no-touch savings account.....I have literally saved hundreds of dollars....the key, however, is to not touch the coins.....at all....and not touch that savings account either ..... some discipline needed but it is truly worth it !!
@@itsRiptyde this is the value of the book, your money or your life.
I'm about 40k in debt but I'm digging my way out slowly but surely. I've stopped eating out and buying clothes, and in the last two months I've made over 2k in progress. Slow and steady!
congratulations
That is great! Keep up the good work. It will feel so much better once you are out.
That's excellent progress, hang in there and when you feel a whiny mood because people have shit and you don't, shut your eyes tightly and stop comparing. You're climbing a mountain one step at a time. For me it was $55K
I’m a fellow debtor, with student loans included, it’s about a 120k. I’m mad at myself BUT I got a second job to dig my out. I’ve paid 2K on my debt so far in one month so far. Slow dig.
Also want to say keep going you can do it.
Yoo doing that saved me 2k as well a month
Went from 20k to 104k in 4 years. Saving compulsively. I feel so much freedom in my life now.
How?
How
Beautiful! Show us your ways ! 🙏🏽
Nice. I saved 150k in 4 years. And last year I mad my most money ever I made 37k💪
@@BADMANRKAYY I assume by living in a country where a normal salary is more than 10k a year :D
Treat saving like a bill. We have no issues paying out car notes, phone, rent, mortage. If we prioritize saving like we do food then we'd have much more success. Thanks for the tips
Lol I have issues paying my phone, rent, etc
Good way to look at it, thanks!
Extra cash? uSMART's 6% interest makes your idle USD sweeter, instantly accessible and no fund investments required.
I try to limit purchases of processed foods. Example, instead of buying frozen French fries, I buy 10lbs of potatoes, chop them into French fries, put into ziploc, add spices, shake, and freeze. Now I've got frozen fries ready whenever I need them!
Buy a big freezer and use it!
Great tip! Thank you :)
Fries make you fat
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I saved 13k this year and I make 40. It can be done, and it can be done easily while you still allow yourself to have fun too! The key is just not needing that 10k. If your bills are so high or your income is so low that 10K is essential income, it'll never happen. Either make more money or spend less money
For example, now that prices on gas, groceries, rent, and everything else have gone up so much, unless things go back down this is not something I would be able to duplicate next year. Don't beat yourself up if you can't get there. I find it's usually not an issue of budgeting but rather an issue of the money not existing
13k on 40 is actually really really good. happy for you
Thank you this is very inspirational. I am on the same income and will do more to save and increase income. Addressing my thinking and my faith at this time... I've been on Cobra insurance and it's half my rent, but I have no right to complain as it doesn't help my situation. As the Good book says "If you believe all things are possible to those who believe." And not believe what my physical eyes see!!
Same.
proud of you
Great job ma'am 👏 👍 👌!!
A friend of mine that is a financial advisor started me on my debt free journey simply by telling to write down my savings and checking balances at the beginning of every month and then comparing it to the previous month. Same for credit card balances. Did they go up or down? I automatically started writing down what caused them to go up of down. Then I worked to correct any bad behavior and improve on my good behaviors.
That's a great friend
I make a weekly balance tally.
Thanks dude
I was gonna start a weekly balance check this weekend. Decided not to. Because today is Monday and what better day to start a weekly check than the first day of the week! Why put off to tomorrow what I can do today?!
I use snoop app for this, really helped. I've never been able to save
200k in savings, $0 debt, just reached my 30s. Average job nothing fancy, just gotta be good at manageing your money and know when to hold back.
So good. You really hit the nail on the head.
Ufff 💪 I am at 60k. 28 years old. Working my way to 100k
@@1957346 keeping going!!
Sure you did
@@jrr7031 if you can't do it . Just say it
Saved my first $20k this year!
Any tips, taking notes rn¡ ty
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My best money saving tip is to plan meals for the week & stick to it x
Yes! I was going to put that too. Meal planning! Stop buying take out or going to restaurants unless it’s a special celebration or you’re out and about.
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My husband and I buy snowmobiles in the spring and sell them in the fall…we make $1000-2000/machine. We do the same with watersport machines - buy in the fall and sell in the spring! It helped my husband buy an airplane with cash😊
$10,500 paid I’m debts free thanks so so much Instant profit🖤org🙏🔝
@meganhamlyn1694 did you guys have to maintenance/fix up snowmobiles and jet skis or were they already running good and you profited just by selling for more than you paid?? Thank you!
@@sabrinaboston9289 luckily, my husband is very handy. He does simple repairs, spruces them up and then sell them. Hope this helps!
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My mentor, "STACIE KRISTAL WEBER" who has witnessed hundreds of market cycles over the past three decades, taught me this. She has an intuitive understanding of how things move, why they move, and what will happen next.
Check her up online; she has a website where you can contact her and properly get in touch with her to learn more.
My side hustle is door dash. I make about 200 extra a week after gas expenses. They also give you a debit card that pays 10% cash back on gas station purchases. It was 2% but they raised it when the gas spiked recently. I save my rewards as extra savings. When they hit 50 bucks I cash them out and put those in my savings or stock account as well. But even just 200 a week is your 10k, so I strongly suggest that avenue if you have a reliable vehicle. Also, I could easily make 300 a week. I'm just lazy and between that and my regular job, I like to take more days off.
Hi, how many hours a day do you usually do door dash? I'm looking into door dash as well. Ty
Is this still a good idea now? 8/31/2022
I have a job but i also doordash i mean hey its extra money at least i want to save to 8k for a year for a downpayment for a new truck
I signed up for Door Dash but I don't know if it's worth it with the gas prices now.
@katrina that is a great idea! I DoorDash from time to time and for everyone asking if it’s lucrative, still? I say yes! Tip: don’t accept just any order(s)! Calculate the miles to trip ratio (helps maintain gas & also, increases your overall funds while dashing). Another tip is to monitor the hotspot times and check for increased bonus areas.
Hope this helped 🙏🏾
*Considering the economic downfall and the rise in poverty across the globe. I ask; What’s the best way to achieve financial freedom?*
By following this practice; *(Being frugal , Investing and staying positive),* and by working with a *financial planner,* I achieved financial independence.
If I could ask; who’s your financial Adviser and how do I gain more info?
I get help from *Donald Nathan Scott.* A well known Investment Adviser who operates privately . You can research his name to get more information.
I am extremely delighted to see Mr. Donald Nathan Scott’s name mentioned here. It’s been three years and I vividly recall my experiences with him. My accomplishments and success became a reality working with him.
It’s hard to find someone who can be trusted with money but having encountered Donald Nathan Scott and his services, I’m convinced that good people does exist. I’m not there yet , but certainly I will boast of a *Skyscraper.*
Jobs will pay your bills, business will make you rich, but investment makes and keeps you wealthy lifetime, I hope you become successful!
Stock's are crashing, Bitcoin investments Right now will be at every wise individuals list, in a month you will be ecstatic with the decision you made today
Assets that can make you rich
Crypto0
Stocks
Bit coin
Real estate
@@christopherlebrasseur7235 Yes, exactly, crypto trading is the world trending online investment now
One lesson I learnt was to "put systems in place". That is how you achieve your goals.
How to save $10000 in a year:
1. Earn a job that pays me 6x more.
2. Do not spend any money in a year.
I was laid off at 53 and was easily able to retire after an excellent life that included prioritizing saving. We have a modest house, but don’t need to downsize with kids now gone. Our cars we bought new but kept for about 14 years on average. We paid down our mortgage a bit extra every year, which makes sense in Canada since it isn’t a tax write off. We buy older models of phones. From the other end of our careers as older people, I can say that your advice is great, and totally worth the effort.
How nice you didn't have a child with major disabilities that has kept you in medical debt for 27 years and counting. Go ahead and pat yourself on the back because life was easy foe you 😡😡😡
With how expensive houses are now...
Us 20 years old are going to have to live with 3 other families like how it is in L.A. Houses are no cheap anymore far farrr from cheap ;(
True, I write down my goals and pray about them. And paste it within view so that I remember it
Getting rich off crypto is much tougher than it seems. I keep losing money while trading with these youtub videos, and finding a trustworthy professional trader to help out with these trades also appears to be nearly impossible. This is extremely annoying
That's true! Most failures in the market system today is as a results of poor orientation and bad experts methods in winning
In any market, in any country, there are developers who make money. So I say all of this doom and gloom, but there will always be people who make money, because people always want homes
Real estate has been the best but crypto is better rough for fast wealth growth
That's good to hear 👍
One thing I tell everyone is learn about real estate. Repeat after me. Real Estate provides the highest returns, the greatest values, and the least risk but you have to be patient
According to Elon Musk", Since I’ve been asked a lot: I will always advise, we buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
what i think you need is a Financial Adviser, who can help you get in and out of any stock you buy at any time and you'd sure be in Profit
PRISCILLA DEARMIN-TURNER, That's whom i work with
No she's not!...You can just put her name on google and you will be directed to her website and drop her your message.
I try to write down my money goals so I can achieve it. I also make use of a 50/30/20 pattern which has helped me iron out my finances.
How do you budget using this pattern you mentioned.
@@annasawyer9081 it's a 50% expenses, 30% investing and 20% savings. I try to spend less which has created more room for investing.
My budgeting is way bad I manage to save just 5% because I don’t earn much.
@@skyauden2522 you have certainly done well for yourself, if I may ask what are you invested in.
That’s a nice budgeting pattern.
So many things!
1. I'm so excited I found your channel it's amazing.
2. Minimalism has helped me save money
3. I don't want to be zero waste...but cutting down my waste has dramatically cut down my spending and reckless impulse buys.
69% of American adults mix up the words "there", "their" and "they're" ;-)
i dont care
Hahahaha I saw that too... it should be 'their'...
Their confused
Hey Sir, why not start that channel??? There are many people who might want to improve in that area and would benefit. Personally, I appreciate proper spelling, pronunciation and usage of words, that's just me, lol. I accept that it's not as big of a deal to others but, secretly, would love to know why, lol 😉
That's me 🤞
I'm 13 and my mom works at a bank, and she opened an account for me. I have a summer job and I make 10/hour and I only work weekends like Friday and Saturday normally from 2pm-11pm. She opened the account for me around 6 months ago and I only started putting money in around 2 months ago. As of right now I have 916. I have only spent money on little things like snacks, accessories, etc., but for the most part I put all of my money in, and what I'm hoping to do is put all the money I get in from like birthday money, Christmas money, chore money, work money and what ever else I get, then use the money when I am older to buy things. I have been using strategies like these since I started saving and this has actually really helped! Thanks for the tips!
I'm going to sound like an old person in saying this, but you'll never have less bills than you do right now, so good on you for saving while it's relatively easy! It will set you up for using money wisely when you have to pay all your own expenses. I had a "saving" mindset in my childhood and teens, and having that emergency money that I'd built over years helped get me through some tough times during college.
Awesome keep it up!
@honeybeepl open an account on a bank that gives you high returns. Min 2:37 he has an account at Yotta bank. I just started and I’m very happy! It is FDIC insured
I love side hustles! I used to flip items and it was so much fun and rewarding. I had to give it up to be a stay at home mom but one day I’ll go back to it. I tried to continue in my current situation but it just isn’t possible to cook, clean, take care of a toddler and myself and flip things. So budgeting and reducing our grocery bill is something I can do!
I've been trying to put at least $100 from my check every week into savings. $400 a month isn't bad.
I had $80K in savings, got divorced all went to attorneys. Starting over😔
So relatable I had $6k saved up then I got into a car accident with expired insurance Due to my brother not telling me it was expired now I owe $12k and I was saving for a BMW 😿
Sorry 😢
Ive recently been going full on Cheapskate,I came to a conclusion i was buying about a gallon of water every 2 days to drink,That was at least $180+ a year so i just bought a sawyer water bottle with filter for tap water for $19.99. Its rated up to 100,000 gallons so i may never be buying bottled again
I was laid off at 48 during pandemic. I’m having a hard time finding a main hustle much less a side hustle. I’ve been told on down low it’s my age and experience- a new grad is much cheaper. So frustrating then rent and food costs go up
uSMART offers up to 6% interest on your readily available USD cash in your brokerage account, with no need to invest in managed funds!
would pet sitting be an option?
Another tip: Look around in your apartment. You might have a lot of stuff that you don't need anymore that you can sell.
If you don't know what you need and what you don't need, put everything into boxes. Everything that you got. And when you need something, take it out of the box. Everything that's left after three months are things that you don't need.
Try saving money every single day, doesn't matter how much just do it-before you even notice time 5months passed already cause time flys fast and by than you'll have crazy amount of money I save mostly with dollar bills it sure does help me allot
I cut coffee consumption in half
I saved money
Starting from small things really makes a difference
That's kind of a scary statistic that such a big percentage doesn't even have $1000 in savings. Really great and simple keys, I've operated on direct deposit into a dedicated savings and it helps keep me honest
To be honest I don't have that in a traditional savings account, but I prefer to keep it in my personal portfolio and Roth IRA.
I’ve been completely debt free for 16 years now! I’ve actually managed to budget my way down to $0 per month required spending. Hopefully I can keep this up when I become an adult.
What’s the secret 😅
@@wonderwendy he’s 16 😂😅
@@bluegiraffe200😂😂😂😂😂
😂😂
Good luck with that, living the dream 🤣
This is very doable. Lots of times we buy things we don’t really need on impulse. I had been catching up on credit debts. Now my income can be used to save and he pays 80% of the bills we can achieve this easily in a year thanks for the enlightening information.
uSMART offers up to 6% interest on your readily available USD cash in your brokerage account, with no need to invest in managed funds!
Honestly. This is like 80 percent easier while living in a first world country.
South Africa on the other hand is not that simple .
Currently watching the minimalist series. Love it. Going to start implementing that soon
Yet so many will be stuck mentally in woes. If you have the mentality/discipline you will achieve it, though there is more obstacles in South Africa never give up!! Infinite opportunities just be open to them
I also agree with this statement...Especially with the rising costs and petrol prices going over minimum wage per litre. But I'm going to try to save up a sum to invest because my last lump sum went towards my studies
Yip South Africa 🇿🇦 has become a lot more expensive and challenging for a large portion of our population. Living expenses vs increased cost of essentials is challenging world wide.
@@CarynPretorius best thing you can do is complete the studies and get out. Nothing here for any of us anymore.
I hope to leave with my fiance and son in the next 2 years hopefully.
She is a teacher and I have a small private lawn care company and grow Microgreens for local restaurants and we can't survive with basic needs like vehicle and medical aid. Can't even afford our own private place to live. So we want to get out and move to new zealand. It's expensive there yes but we are used to such a mediocre standard of living that we will be fine there. Not to mention the safety there taking the strain off of everyday life
I always had trouble saving, at the end of a yr I'd realize I only saved maybe 1/2 or less or nothing of what I wanted to. Taking a lump sum every pay aside to another account was painful + didn't often happen. So a few yrs ago I did a budget crunch, figured out how much I had after expenses to spend every day as managing what I spend in a day is doable for me. Got the figure + decided to put aside $20 a day of that money into a savings account, that way I wouldn't feel it. It worked! Just got a raise so starting tomorrow I'm going to put $27.40 aside.
As a coach for over ten years I am always a little surprised how many people don‘t write it down. It‘s almost magic 😂 😁
It's it wild that most people don't practice this and it's seriously a game changer.
What does writing it down do
I recently got into the youtube financial niche, and I’ve taken a deep dive into investing, particularly in stocks, and ETFs as they interest me. Tried several methods trying to figure out the best approach to building my portfolio. So far, I’m making progress with the help of an astute fiduciary. I’ve been able to compound over $78k in profits from my trades. Back to the video, wonderful job there, always look forward to your next content.
@Akina M OtienoFor me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
Putting money into profitable assets has always been top priority that’s why I invest because it affords I and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising to see the rate at which I’ve had consistent growth. Even got my third payout last week. Real stand-up guy.
I have paid off my mortgage, and have enough saved in my emergency fund before hitting 40 next month. And by God’s Grace I invested two-third of my salary in stocks, ETF, and bonds. Over time my investments have yielded a little over $92k with Sir Jonas’ help. Looking at building a robust retirement in 2 to 3 years time.
@@Rubyruby287Could you be kind enough to drop a lead to him? Thank you in advance.
@@Lilybee931Sure,
Hermanw jonas (a g mal comm
Just subscribed hope you get to your goal someone posted this “making money is action, keeping money is behavior. Growing money is knowledge” well said I’m 38 and learning the growing part
Downloaded this so I could hear,watch it everyday every morning to motivate me. 🤩🤩🤩
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Minimizing bill expenses, like unplugging items to only using air conditioning and heat when necessary... To know for sure how much cleaning products to use. They will all help save that money. I really started doing extra just to try and save $5-20/month just on my water and electric. Etc. Then so on.
I like your style. I work extra as much as I can. Just started realizing that in my field there's plenty of OT. So the Ot gets put in high yield savings account. Just live below your means. Get rid of debt first as soon as possible. Otherwise no saving will take place. Write it down is the best advice. You have to see it layed out before you. I was spending on take out food every week a few times. Coste a $100 Xtra a week. It's crazy how simple it can be. Starting is hard but can be done.
Which savings accounts do you use? I use Current for 6k at 4% (6k is the max for interest) and Discoverer at 3.3%for everything else.
It's funny, the most important thing you said in this video are to write down the days wins and then tomorrow's wins.
However, I would like to tweak it slightly as I am going to start doing this modified practice tonight.
I have ONE and only ONE goal I am going to focus on. I am going to write down my ONE goal everyday in script, then today's wins in terms of this goal and tomorrow's wins that bring me closer to that goal. And I will keep score to see how I am doing. The numbers always tell a story. Thanks for the tip!!
The whole side hustle thing is frustrating. I’m just not one of those people for whom ideas like what to hustle at, comes readily available to me. I barely can hang onto the work I have. Plus manage the rest of the responsibilities I have. Plus feel like I’m not burning the candle at both ends. It’s just not that easy to suddenly say to the universe “ooo, I could do THAT and make an extra 400$ a month!” I can’t be the only one out there feeling this way. It works for some, but only if they’re presented with an opportunity.
I totally understand where you’re coming from. I am someone who pursued just a really good salaried paycheque from a job I find meaning in instead of a side hustle. But regardless of that, quality of life should always be prioritized and I think this is different from person to person. That said, if your side hustle can be something you are truly passionate about (ie find a way to monetize your hobbies), it can definitely work.
Also not everyone has something they are good at or if they do it isn't something marketable like touching your nose with your elbow. "Just start a side hustle" isn't really that great of advice
@@dustinreynolds1552 Precisely! Thank you for saying this. I feel validated by knowing someone else understands ~
Your absolutely correct
they also often bad at not spending on crap, unhealthy unethical unessential objects
I love that all of these money saving videos are like "oh you need to save money, well all you need to do is stop spending 27 a day on non essentials and then guess what you have money. Like...no not everyone is buying lunch every day and flittering their money away. This isn't a helpful tip it's just saying "how do you save money? By already having it"
You break things down well and explain how little things add up. The thing that makes me cringe time and time again is when financial advice is "start a TH-cam, start a social." You may consider yourself a success but the percentage of people that earn from social is so small that it isn't realistic for most of the population.
Having a thousand in an emergency bank account is definitely good, but I also keep a thousand in cash. More than once its gotten me out of a jam.
ALWAYS have cash saved on you. Never know when you will need money.
the key is cash flow...you need to increase your cash flow ... there are a large number of side hustles you can do. I like to flip furniture. but you could uber, door dash. sell shit on etsy or FB marketplace.
You are my all-time favorite channel for frugal living videos. Keep up the great work.
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Sound advice. My tip: if you live in a state with can and bottle deposits, pick those up whenever you'rr walking and see one. Carry a plastic bag in pocket just for these. They add up! My state pays .10 ea. They really add up. Save receipts to add up your total win. It's free!
I am starting to be very conscience about money as it is extremely important in life. I have a goal of reaching about 10k like the sir said in the video in 1 year. I will realistically aim a little lower than that because I have many bills. After I do my back breaks and a new front tire, I should be pretty set to be able to put money away between January-May this year
When you go to buy something ask yourself “do I need this” if the answer is no don’t buy it and put what the item costs into saving account. You will be shocked how much you save and would have wasted
The safe way to double your money is to fold it over once and put it in your pocket.
Save as much as possible. Spend as little as possible. Ignore everything else.
Thanks for saying no budget. Something blocks my mind from that. I would much rather spend the time, energy, bandwidth on writing down what my financial goals are and reminding myself why I don't need that fast food or clothing item on repeat.
$10,500 paid I’m debts free thanks so so much Instant profit🖤org🙏🔝
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you are 42 % more likely to achieve your goal if you write it down
before you decide where the money is going to come from
DECIDE where its going to go when you get it
or it will go as fast as it came
Needed some advice because I’m in a stagnant place paying debt and trying to save simultaneously I’m so happy to find out I’ve been doing all these steps already thanks for the reassurance great vid
Oh I believe you… I have done it.
Formula is:
Goal + hardwork + determination x self discipline = SUCCESS
6:35 Oh, now we come to my point all along. To quotee you :"Saving money is 30% more efective than just earning some extra money". Those are some big ass percentiges right there. I sure wouldn't wanna borough money at 30% intrest, just through that lence you can see how big of an impact saving money and living frugaly makes.
I occasionally "ground" myself. I have a few days where I don't buy anything or drive anywhere except to work and back. Some people say it's boring, but I look at it as a challenge to find free fun things to do.
It seems that you don't like the term "budget," but everything you described is...a budget! You track all of your income as you earn it and decide where all your spending and savings will go. That's budgeting :D
Maybe he means strict budgets where you actually allot yourself so much for everything. Those are harder to follow. Sometimes you just really want that meal out even if it puts you 2 bucks over your budget. I have never been able to follow a budget like that. I set my savings goal and pay myself first, then what I have left after bills I decide what I want to spend it on. That works better for some people. The main thing is paying yourself first. The rest you can be flexible on.
@@katrinamillings3651 Then he doesn’t understand what a “Budget” is. A budget is just a $ plan meant to keep you in line with YOUR goals. You can then track actual spending to see what is really happening to your money and reassess your goals to see if you need to adjust your plan or your spending. It helps to know what your goals are in order to reach them.
@@dpayne1943 Yes, a budget is just a plan for where the money goes that will ideally line up with your own goals. Having a goal says nothing about where you're going to wind up after following it for years.
@@katrinamillings3651 PYF is the 🔑
Just use the 50/30/20 rule
50 percent for needs 30 goes on wants and 20 goes either your saving or closing your debts or it can be both.
Supporting this channel. I stand firm on not wanting more and making the decision to not have coffee (or calories) to save my money eventually got me paying off my home loan sooner than I imagined. Plus of course a big help on my side hustle.
Good video, I have a full time job, married and have 3 kids. So saving money is hard. But one thing that I was able to do to get extra money is turn a hobby of mine which is comics into a side hustle. I took my love and passion of comics and now whenever I get a chance I go looking for comics on the cheap that I can flip to make some extra money. This works for me as it is something I like to do and doesn't feel like work. I would tell people to look at your hobbies maybe you can turn that into a side hustle. Thanks for the tips on saving money.👊🏼
How do you keep saving when your income drastically decreases? For example going back to school or job loss? I like the suggestion to not use budgets,because my financial situation changes constantly!
The habit is more important than the amount. If you can only put $1 a day away that's fine or even if it's just $0.25. It may not seem like a lot but it will add up and when you do start making more money again then the mindset will be engrained and it'll be so much easier to increase the amount instead of introducing a new budget category.
Agree with Jenna. I have an account with a bank (3.5% interest) and I put a “zero out” amount in there weekly. Basically, if my regular bank account says “$221.71,” I put the $1.71 in it to have zeros at the end of it. Even those small amounts weekly add up. I am already at about $50 saved just because of this.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
Great video. We all need to save for what's coming.
I once saw my father bury a Mason jar. He covered it with dirt and three other holes he had filled in. Then he got on the tractor and pulled his rusty old truck over it. Each hole was then covered by a pittiful looking flat tire. My father was pretty smart. I imagined there was money all over the property and of course assumed we were so rich my that my father had money he didn't need.
I work a full time job of 53 hours a week and on my off days , I clean houses making an average of $600.00 additional income per a week which goes into a high yield savings account. I have started on rental investments and looking for a investment property to Air NB to travel professionals . I am in the process of purchasing land for other business ventures . And working on merchandise to sell on other plat forms for income. I am very frugal when it comes to travel and dining out. I will order an appetizer and water and enjoy the free bread with olive oil with a appetizer and leave filling full and happy , I save money and enjoy an evening out without the high cost of a big meal. I look for travel discounts and nice hotels with discounted rates and travel very light with a carry on bag or a packable backpack my hopes are to start a you-tube channel this year on travel and how to travel cheap but live big. Love your vlogs GABE keep up the great work!!!!!! I have followed you for 2 years now and always love watching your vlogs.
Saving for a car but personally I do envelope challenges because since I dont have a car it’s easier for me not to spend cash I started January 17th now I have 700 saved up towards my envelopes which will go towards gas and insurance it’s been super helpful with me I’ve been thinking about a side hustle tho sounds like a great idea
I really enjoyed this video..highly engaging and what really stuck with me is "save money rather than focusing on how to make more"...thanks!
Write it down!!! This is my rule!! It always works for me! Whenever I write it down I go back to it months later and I usually have achieved it!
Interesting concept! I like the idea you laid out of writing the goal down, writing it into existence is defintely a thing
Save what is left after saving. 😎👌
This just gave me a different way to look at money! Thanks!
I trained myself years ago to stay comfortable in lower temperates in my house. 17°C /62°F with outdoor pants and 3 wool layers I am fine. cashback 800.-€ in the first year and saved ever since
I was a good student in high school and college and I tutored students in Math and Physics that were in the previous grades. Whenever I was learning something new , I was already on the mindset of "I need to understand this well enough so I can later explain it to a student". This helped me study and it was super profitable as I was earning 20€/h from tutoring.
22 70k in the bank . I work 72 hours a week I will have my own business stated by this time next year
It’s even harder being first generation with no knowledge on financial literacy , I will be the one breaking the curse on my family . I’m omw to my first 100k with Instant profit🖤org , hopefully everybody watching this video gets to that point
Paying cash at the pump saves you 10 cents per gallon. And also helps prevent debit criminals from stealing your card after you swipe it
I agree with everything you said in this video EXCEPT your advice NOT to make a budget. If you don’t track what bills &/or debt you need to pay & how much money you have to pay those bills/debt? Or how much money you have to save to get to the goal of $10k in the year?
I think the biggest mistake most folks make is making an unrealistically tight budget. So if a budget is your thing make sure to allow enough for food (try to cook most of the time) , clothing (thrifting maybe) or fun (budget type things can be just as much fun ie a bbq at the park with friends vs expensive concert tickets), etc. And when you get some unexpected money, save a lot and pay down debt also.
Coffee in my neck of the woods is over $5.50 a cup very seldom anything less than that. Clothes are more than that lunches $15-$25 a day. Everything is climbing up quickly making coffee at home is a great idea and also eating lunch at home and taking lunch to work. Start searching online for different types of recipes where you can make a crockpot meal or oven meal to eat off of for three days or six meals. You could save money a whole lot quicker by doing what you’re talking about. Good suggestions keep up the good work, Gabe.
this guy is like a minimal materialist
6 minutes in and I've learned to stay motivated and start a youtube channel. I really don't get all the comments.
It’s so nice seeing that I’m hitting most of these goals already. This was even before getting into finances in general. With just research on my own. It’s only this year I started to really try to save and invest. It feels good especially with the high interest savings goal.
dude your video quality is top notch. You got the 500k goal in the bag.
thanks ryan!
Love your videos. Not only are they educational, they are inspirational and funny! Thanks for all your effort in putting them together. As a new TH-camr I can truly appreciate the work that you invest. P.S. Intro text graphic should be “their” not “there” in case you want to correct. ;)
True I had list on fridge of home improvements I scratched off each one at a time. I started paying myself. I taught others to payoff debt. Had friend left with 30k cc debt x wife. He got it paid off in a year.
Best bit of money advice I got. Pay your self first. NOT bills etc.
The firsts 150 gets changed into largest denomination eg, 100 dollars, 50£ or 100euro notes. These are difficult to spend normally. So in 14 months I’ve got 5k.
Great from someone who has the saying in family of its like water running through his hands.
I’m 23 currently and my goal is to save 10-20k per year till I’m 50. 🥰🥰
I am currently obsessed with your videos. I’m saving all the money I can, starting with all the. Only I’ve saved being part of the NHS in England. Every time I shop, I put the money saved in a tin, till the end of the month. Low/no buy this year. I do have a family savings account and some shares, which can be sold a couple of times a year. Thanks for the wonderful advice. Lesley England x
The pound is being inflated to the moon, why would you save it and not invest it.
My husband and I have 5k saved, we act like we don’t have it.
We save most of our change too. We reuse our empty mixed nuts containers from Costco as piggy banks lol we’ve been saving since 2020 and have managed to fill up a full one every year since then.
My husband is a barber he usually works 6 days a week and charges $30 a haircut. If we can save the money from one haircut per day including the 1 day off just double one of the days. We can save 10k easily. I just sent him this video.
Thank you for sharing this!
Dang! budgeting was the most exhilarating part of my financial journey lool
Thanks for the video. In my experience, to stop eating outside and bring lunch to work from home is defiinetly a game changer
Monday is slowly becoming my favorite day of the week, and your videos are part of it. Thanks, Gabe!
Thanks for watching appreciate it!
A budget is a tool to be used as an after thought to review what you did over the month, see where you can improve
It might be helpful if instead of a budget you have a "Spending plan." I like this wording much better!
I have weekly automatic deposits. Passive savings, it has made such a huge different. I have one set up for all three kids and a vacation account.
Loved the temporary tatoo on your wrist idea. Subscribed!
Appreciate you! since you really enjoyed this video I want to share something with you, Best Money Saving Trick: Pay Yourself First 👉🏻th-cam.com/video/f-68wBtWy0g/w-d-xo.html
If you’re still looking for new great music, I recommend The Paper Kites. The song “Electric Indigo” is a good start.