Don't look over opportunities to make more money. I was a single parent without child support. I had a great job. An opportunity came to work 4 hours on Saturday and I took it, it was boring but it went by fast and helped me financially.
My side hustle is Rover! I’m a hybrid worker (office 2 days a week), and I dog walk and dog sit on the side before work, during lunch, or after work. Right now for January my profit after fees and taxes is going to be $708. I get paid to hang out with dogs!!! Best side hustle.
My goal is actually to have $0 in my checking account and I make sure that all of my money is applied to my credit lines to keep the interest down! Velocity banking is the way to go! Mainly because your money is actually working for you and taking advantage of how the banks work. If you keep all your money in the checking account you're earning zero interest but you're still paying interest on your debts that is an average daily balance amount
I just tore apart our budget & looked at every transaction, subscription etc. A lot of subscriptions will allow a pause. Like Cinemark movie pass. I can pause for 3 months. Instead of paying $11.99 a month for 12 months, I set up a reminder & when the pause is over it will debit & then I can repause. This way I'm only paying for 4 months this year & it saves us almost $75 for the year. Looking at things not just on a monthly amount but a yearly amount puts a different perspective & is very eye opening. I made a spreadsheet of the things I was canceling or pausing or money saved. So far I've saved over $1,000 this month & yearly savings is over $12k. Shred that budget & stay fresh with a new look. Find your why, what would you rather do with it & then go get it.
We have had a budget for a many, many years. One thing that have changed the way I shop is my wardrobe. I now have a small, well curated wardrobe with only pieces I love! It has transformed how I shop cloths and now I do the same in other areas of the house. It means less buying, but sometimes more shopping as it takes time to find those gems that you love. And to do that you need to not stress! Take your time and save up money so you really can buy the most beautiful things instead of just buying cheap things and then switching them out buying new stuff…
I think this buffer is exactly what I've been missing. Doing a zero based budget (as I have for over 15 years), I do best under forced scarcity, but I do find myself compensation with my credit card (which I do pay off). George has inspired me to try no credit February and see how it feels.
Every Dollar really has been an absolute money saver!!! 🙌 It took way too long for all of these concepts you guys teach to click in my head - but now I get it and we are officially in Baby Step 3 today! 🎉
My goal this year was to start budgeting better since lifestyle creep has been spending too much and needed a line on the budget. I also opened an online bank account for money to go into a separate savings account so I don't see my money in my savings with my normal checking and have the yeah I can afford that mentality along with hiding that debit card. As the saying goes out of site out of mind. Which also means my account goes down to a low balance with a tiny buffer, but if I need more it can be transferred within a couple of days or if I'm desperate I can go withdraw it from the other account for emergencies.
When I have credit card debt I am so keen to pay it off that my last payment to clear it then makes my account balance in my checking account very low so I then run out of money by the last week of the month which then tempts me back onto the credit card! And so the cycle continues, especially as each month over the past 6 months, I have something unexpected and expensive happen! I never seen to break clear.
Your suggestions are helpful. I would recommend getting a notepad & pen or computer spreadsheet and sharing a sample of a budget/expenses/ ect...it's more fun and eye catching, than someone only talking ❤
Yes I added a side hustle, sub teaching, as I am a business owner and make my own schedule, so I sub teach two times a month up to ten times a month! 😊
I make pension money and i have $1500 left after bills. Then i pay $500 to credit cards then i put $500 savings then have $400 grocery account...not much keft but i live accordingly but i always pay my bills first its the best feeling when you know bills are paid. Priorities people. Sacrifice and focus is key.
unless it’s under the table it’s not worth it if you do DoorDash or Uber only make $595 so you don’t get a 1099 I used to work two jobs for years you end up losing when you file your taxes your refund plummets to the ground
I don't let my checking account get below $1,500. Then we have a small buffer for unexpected expenses without dipping into savings. I lose peace if we go below $1,000.
@bettedavis9261 I would like them to update it as part of the 4 walls. People with chronic medical conditions like me, need the Doctor and medications. I consider it as equally important as food!
I just started a new side hustle, helping people Declutter their homes. It is something I am really passionate about and most people need.
Don't look over opportunities to make more money. I was a single parent without child support. I had a great job. An opportunity came to work 4 hours on Saturday and I took it, it was boring but it went by fast and helped me financially.
My side hustle is Rover! I’m a hybrid worker (office 2 days a week), and I dog walk and dog sit on the side before work, during lunch, or after work. Right now for January my profit after fees and taxes is going to be $708. I get paid to hang out with dogs!!! Best side hustle.
Thanks for the tip! That's a good profit 😊
My goal is actually to have $0 in my checking account and I make sure that all of my money is applied to my credit lines to keep the interest down! Velocity banking is the way to go! Mainly because your money is actually working for you and taking advantage of how the banks work. If you keep all your money in the checking account you're earning zero interest but you're still paying interest on your debts that is an average daily balance amount
I just tore apart our budget & looked at every transaction, subscription etc. A lot of subscriptions will allow a pause. Like Cinemark movie pass. I can pause for 3 months. Instead of paying $11.99 a month for 12 months, I set up a reminder & when the pause is over it will debit & then I can repause. This way I'm only paying for 4 months this year & it saves us almost $75 for the year. Looking at things not just on a monthly amount but a yearly amount puts a different perspective & is very eye opening. I made a spreadsheet of the things I was canceling or pausing or money saved. So far I've saved over $1,000 this month & yearly savings is over $12k. Shred that budget & stay fresh with a new look. Find your why, what would you rather do with it & then go get it.
We have had a budget for a many, many years. One thing that have changed the way I shop is my wardrobe. I now have a small, well curated wardrobe with only pieces I love! It has transformed how I shop cloths and now I do the same in other areas of the house. It means less buying, but sometimes more shopping as it takes time to find those gems that you love. And to do that you need to not stress! Take your time and save up money so you really can buy the most beautiful things instead of just buying cheap things and then switching them out buying new stuff…
I think this buffer is exactly what I've been missing. Doing a zero based budget (as I have for over 15 years), I do best under forced scarcity, but I do find myself compensation with my credit card (which I do pay off). George has inspired me to try no credit February and see how it feels.
As a retiree, I also need to budget and save to reach my goals. Like payoff my mortgage in 3 years by putting extra money on the principle monthly.
We need some healthy food recipes on the Ramsey channels.
Every Dollar really has been an absolute money saver!!! 🙌 It took way too long for all of these concepts you guys teach to click in my head - but now I get it and we are officially in Baby Step 3 today! 🎉
My goal this year was to start budgeting better since lifestyle creep has been spending too much and needed a line on the budget. I also opened an online bank account for money to go into a separate savings account so I don't see my money in my savings with my normal checking and have the yeah I can afford that mentality along with hiding that debit card. As the saying goes out of site out of mind. Which also means my account goes down to a low balance with a tiny buffer, but if I need more it can be transferred within a couple of days or if I'm desperate I can go withdraw it from the other account for emergencies.
When I have credit card debt I am so keen to pay it off that my last payment to clear it then makes my account balance in my checking account very low so I then run out of money by the last week of the month which then tempts me back onto the credit card! And so the cycle continues, especially as each month over the past 6 months, I have something unexpected and expensive happen! I never seen to break clear.
Keep putting any extra money in for the next appts. helps us stay ahead a little.
Your suggestions are helpful. I would recommend getting a notepad & pen or computer spreadsheet and sharing a sample of a budget/expenses/ ect...it's more fun and eye catching, than someone only talking ❤
Yes I added a side hustle, sub teaching, as I am a business owner and make my own schedule, so I sub teach two times a month up to ten times a month! 😊
1st! Thanks for all of your hard work, Rachel!
Thanks for the information as always!!!
I did lots of surveys for Google, which paid very well $100 a pop several times a year. I babysat, cat & dog sat.
Thank you for sharing where can I look for the surveys?
@@brendahayes search Google surveys you need to live where they have offices because they're in person.
Thank you, Rachel! I appreciate your videos.
Needed this video thanks Rachel 💪🏽
You inspire so many. God bless.
I make pension money and i have $1500 left after bills. Then i pay $500 to credit cards then i put $500 savings then have $400 grocery account...not much keft but i live accordingly but i always pay my bills first its the best feeling when you know bills are paid. Priorities people. Sacrifice and focus is key.
Thankyou for your Wisdom
unless it’s under the table it’s not worth it if you do DoorDash or Uber only make $595 so you don’t get a 1099 I used to work two jobs for years you end up losing when you file your taxes your refund plummets to the ground
Your voice keeps me coming back for more “ don’t stop talking”
Will you be rolling out the Every Dollar App to the UK?
How will I be able to contact to you, for me to ask something? I need advice.
Regarding subscriptions, isn't there an app or something that tracks your subscriptions so you can get rid of those you don't use or need?
So, if you do sell a car to elimate the car payment, how to you get to and from work while you are saving for an inexpensive (under $5,000) car?
Ideally they probably want you to use the money you made from selling the expensive car to buy the older replacement car in cash.
I usually don't get my questions answered but here goes, how much is recommended for a checking account cushion?
It depends on your situation. What expenses do you normally have coming out of your account? What dollar amount buffer would give you peace of mind?
I don't let my checking account get below $1,500. Then we have a small buffer for unexpected expenses without dipping into savings. I lose peace if we go below $1,000.
@@karenflom9352 This is helpful. Thank you.
Would u consider Medical expenses like daily medication to be part of the "4 walls" ?
I would.
Yes! Especially if it's prescription meds
@bettedavis9261 I would like them to update it as part of the 4 walls. People with chronic medical conditions like me, need the Doctor and medications. I consider it as equally important as food!
@@myaccount9498 I agree! Especially as we age, prescriptions can take a big chunk out of the budget, and they're not optional.
The desperation in some of the comments here is sad; America is truly a 3rd world country in a financed Gucci belt.
Rachel, I'm not a guy.
Step 1: Stop being poor