Money Management for the Broke | How to Budget Low Income
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- เผยแพร่เมื่อ 11 ม.ค. 2024
- Hey Budget Buddies! A burning question of mine is how can I live on $1,800 a month. What's reasonable money management when your broke and what isn't. In this video I make a budget for a low income according to what some suggest and I plan to stick to it. I don't know how I'll pay for some things, but we'll figure it out.
Leave a comment to let me know you were here, if you’d like or just share your thoughts. I'd love to hear from you. I respond to all comments.
#lowincome #moneymanagement #budgetwithme
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Hey buddies! 🤍 For some tips to help you survive when your income doesn’t cover all your expenses-WATCH VIDEO ▶️
th-cam.com/video/SKD1Hmj7_Mg/w-d-xo.htmlsi=fjCw63lWQP9rrfpG
Budgeting is not easy. Enough is never enough. We have to figure a way forward. It can be done.
Oh yes, it definitely can be done. We got this 🙌🏾
Hey Kim, this is an awesome video. You just never know what will or can happen. Great job.
Right? You just never know. Thank you Paula! 🤗
I felt like you were speaking directly to me thank you for the information I truly appreciate it!
Awww I love that! It makes me happy to know that someone relates to what I’m saying. Thank you so much for watching & taking the time to comment ❤️
Kim this is intriguing. Would be kind of fun to see. I can't wait for the results. Good luck.
This is such a struggle. Good grief! I have to figure something out. 😅
Can’t wait to see how it goes!
Oh man, I’m struggling with this 😂😅🤣
Morning Kim!! Wow…you’re being super intentional…that’s a key for success!!!
Super intentional 🙏🏾 Yea, I’m trying to be like you Melissa😘💗
I am so happy that I came across your channel. I have 3 adult kids (ages 21-25) that I am trying to teach them about budgeting/saving their money. I watched a few videos of yours and it makes me want to tighten up my finances even more. Thank you so much for the content. It’s very realistic for a lot of people. Keep up the good work.🥰💃🏾
I’m so glad you found me too. Thank you, Erica! Oh wow, I remember when I was 21 and my dad made a budget for me. It was a pretty unrealistic. So I hade a melt down & became repulsed by the idea of budgeting for 20 years. 🤦🏾♀️ I wish hadn’t wasted so much time. Your kids are blessed to have you😘
Great video! I need this because my employment status is in the air as of right now and have to budget if I was not working and on unemployment looking for work
Thank you! Oh that’s really smart of you to get ahead of it. I do hope your employment status stabilizes soon.
Yes low income is super hard to live by but there is always bits and bobs we can do.
Love the video as always you keep it real and honest. Hope this budget works for you 💗💙💗
Hi Cris💗💗💗 Thank you!! I’m determined to learn all the bits & bobs. I just found out that my health insurance will cost 21% of my income instead of just 3%.
@@debt2none wow that is a lot, I guess the only advantage of been low income in Uk is that we do have free healthcare. Bless your heart I hope this all works out for you and can’t wait for next month to find out how well you done with it. I have all the faith in you 💗💙💗
I’m so dang proud of you!! I want to jump up and down screaming because of your channel growth. You did that!! 🎉
Awww, Katie, thank you so very much my sweet friend!!! I owe it to you & everyone who continues to support my journey. Thank you🎉❤️
Awww, Katie, thank you so very much my sweet friend!!! I owe it to you & everyone who continues to support my journey. Thank you🎉❤️
This was amazing, Kim! I think I need to do a grocery challenge where I try to spend only a budget like this, but with 5 people, I’m not sure we could do it.
I love that you are challenging yourself to do this. I can’t wait to see how it goes 😊
Oh my gosh, Katie, that would be some serious frugality for 5 people. But that would be cool if you did challenge yourself. So if you allowed only 10% of the monthly income for groceries, where would that put you? I think you could swing it…at least 1 month 🙌🏾
Great video Kim, my adult son is 21 and is making 13 an hour but they will not give more then 20 hr a week, so of course he lives with us but . I think this a wonderful video series for anyone trying to make on one income or low income. Always love seeing you, look forward to seeing what you come up with.❤
Thank you Gina❤️ Oh wow, I didn’t think about not even getting enough hours to make full time. Things are so rough these days. I’m glad your son has you.
Good morning. I am catching up on your videos that I've missed
Good morning my friend! ❤️ Awww! I love that you’re doing that. Thank you so much
Happy FriYAY ❤ I remember having shift my spending around when my job went on strike before budgeting. My grocery budget was $44 a month for 3 people. It took a lot of imagination. 😂 Have a blessed weekend 💜🕊️
$44 a month???? For 3 people? Ohhhh wow! That’s quite a shift. We thought we were doing great when our groceries were $400/mo for 3 of us. I need to get like you & use my imagination now 😆
❤❤❤ how you said your not low income but only your on the low income end of the mid class❤❤❤ it hey 👋🏽👋🏽👋🏽 Kim it's nice to see you.
Hey Desiree!! 😘🤗😘🤗😘
Hey Kim. This is a really good experience. I'm really looking forward to seeing your progress with this. In my area.. . Those percentages are very doable.. So it will be good to see what you come up with 😅
Hi Gillian. I’m really hoping to get the hang of frugal living. I think I can swing everything except the medical. I can’t get medical that cheap. We shall see what happens 😬😆
So yeah, they should tweak those percentages because the cost of living isn't what is use to be. I'm in Michigan and a studio apartment cost about $800+ a month without utilities included.
I'm going to sit down and do this with my budget to see if I will be in the negative for the month. I'm single and live in an apartment.
I agree. Housing in California is more than 50 percent for most people, unless you bought a house over ten years ago.
@@bullitt0713 exactly, I think one of the issues with most financial "gurus" who push these numbers is they are not truly looking at the cost of living for different areas or states and adjusting the numbers accordingly. It seems like it is a one size fits all model.
Yea, I hear you. I when looked for housing that would fit the 35%, I came up empty. I found 1 studio apartment in the hood part of the south side of Chicago for $675. I hate this! I feel like it’s too unrealistic or just plain dangerous to live according to these numbers.
@@tyresseferguson2462 exactly!
KIM!!!!!!!!!!!!!!!!!!
It’s my girl!!! Hey Errika!!!❤️❤️❤️❤️
I love your channel! I don't know if I missed it or not, but where do you get your pie chart info from? I'm on social security, and my monthly payment is just a bit lower than yours. I can't wait to see how you do with your income.
Hi!! Thank you so much!!!🤗 I wish I would have put the link in the description box to where I got the percentages from. Now I can’t even find the website 🤦🏾♀️ I will make I include those details from now on. But I made the pie chart on meta-chart.com.
Housing subsidy -- or roommates. IF you are making minimum wages, there's a good chance you are living with roommmates. Plus you'd be eligible for food pantries to help with food, etc.
Yea, I agree. 😆
Great video! Where did you get the percentages for the budget you used?
Thank you! I believe I got them from Nerd Wallet.
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Girl where do you live where ya mortgage is that amount?? Im in ct and omg girl its like 1900 a month for a mortgage. Love ya content. You help so much. Thank you !!!
I’m in IL, an hour north of Chicago. But my mortgage is cheap because my house is small. We bought it in 2019 for 100K. Then I refinanced during the pandemic when the interest rates were really low.
And thank you sooo much for watching my content. I really appreciate you!! ❤️
I live on Centrelink payments but every chance I get I save 😅even if it’s only $5 and I treat myself by getting my nails done…. Hands one fortnight feet another fortnight
I’m currently saving my money for my car repairs…$2,000❤
Oh the dreaded car repairs. 😅 I’m glad you treat yourself from time to time. I think I need to do that more often. It’s been a while since I had my nails done.
I only make $1,130 and im budgeting to pay debt
Wow! I imagine you must need to be strict with sticking to your budget. I really hope it’s going well for you. 🙌🏾
You’re going to need a sugar daddy 😂
I’m just kidding. Great budget video:)
lol! 😂 … thank you 💗
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