I panicked when I turned 60 and realized I was unemployed, $30K in debt and had zero saved for retirement. I got busy solving my problem - launched my own business, paid off all my debt and started saving 60% of my income. Now 4 years later, I’m financially secure with a solid emergency fund. I live a frugal, debt-free life but don’t feel at all deprived. Peace of mind is so much better than anything I could buy!
For me is realizing my job can be taken away from me without any reasoning. I’m trying very hard not to spend on wants and use what I have or repurpose what I can 😊
@@Intentional-frugality yes I often have this thought too as a freelancer, there’s so much out of my control but I can make sure I have a safety net ❤️
This is me now, I have found out today that we have been given another 6 month contract. This takes me to end of financial year. I am building an emergency fund in case I loose my job completely, aiming for 3 months worth, 1 month saved so far.
Hi Vicky ! I had exactly the same problem as you had with dresses but in my case they were perfumes . I carefully " curated" my whole collection and I only buy one (max 2 ) perfume a year after thoroughly testing it/ them to be sure it is sth different . I love niche fragrances that can cost about 200€ and up. So I will "extra-save" by putting an additional amount of money on one of my savings accounts " from one birthday to another 🙂" . Greetings from Paris
Always pay yourself 1st. When payday comes around move your set savings amount immediately, as if paying a bill. That money is then not available in your current account to just spend on impulse purchases. It's very easy to buy on impulse throughout the month and think you'll save whats left, invariably theres not much left to save if its done this way, so move the savings on payday👍
Every month I aim to put money away and every month I fail because something always comes up and needs paying! I’m not in any debt but have next to no savings either. I’m aiming for a no spend January but feels impossible with 3 kids and 2 dogs.
I bought myself a present (jewelry) to celebrate my new job. HOWEVER, at first I thought it was too expensive. I shopped around and this seller had the best price and even lowered it a bit! If I had bought something cheaper, I know myself. I'd always still want the one I wanted in the first place. Which always leads to buying more to compensate for that. So, I bought what I originally wanted. No regrets and the best is, I find that now I really don't want anything else. It doesn't mean I'll never shop again. I'm just going to do it right this time and make sure I have separate funds (a sinking fund) for things like gifts, makeup, jewelry and hair. That way, I won't touch my emergency/investment fund. Thankfully, I have money in that, but it needs to be healthier, so I can buy investments and things that will make me more money, like having dividends to cashflow my sinking and emergency/investment funds in addition to me saving from my paycheck into them.
@@donnabennett5454 yes I think this is such an important point, it’s not about buying cheap! Treats feel so much better when they’re done from a budget that’s balanced ❤️
I've never had the money to keep up with the Jones's 😂 I've never had the salary go compete with my family...im actually on the lowest income in a large family...but I have the best health and im the only person who sleeps 8hrs a night...not many people can keep up with that 😊
@@fenlandwildlifeclips I often recommend local FB groups where you can either get cheap or free items secondhand. In terms of shopping local at small independent shops, sometimes it’s cheaper and sometimes it isn’t, but of course it’s great to support local businesses. It really depends what your budget can manage and what’s important to you, which are principles I repeat often.
I panicked when I turned 60 and realized I was unemployed, $30K in debt and had zero saved for retirement. I got busy solving my problem - launched my own business, paid off all my debt and started saving 60% of my income. Now 4 years later, I’m financially secure with a solid emergency fund. I live a frugal, debt-free life but don’t feel at all deprived. Peace of mind is so much better than anything I could buy!
Great job! What kind of business did you start?
For me is realizing my job can be taken away from me without any reasoning. I’m trying very hard not to spend on wants and use what I have or repurpose what I can 😊
@@Intentional-frugality yes I often have this thought too as a freelancer, there’s so much out of my control but I can make sure I have a safety net ❤️
This is me now, I have found out today that we have been given another 6 month contract. This takes me to end of financial year. I am building an emergency fund in case I loose my job completely, aiming for 3 months worth, 1 month saved so far.
Love this advice!
Hi Vicky ! I had exactly the same problem as you had with dresses but in my case they were perfumes . I carefully " curated" my whole collection and I only buy one (max 2 ) perfume a year after thoroughly testing it/ them to be sure it is sth different . I love niche fragrances that can cost about 200€ and up. So I will "extra-save" by putting an additional amount of money on one of my savings accounts " from one birthday to another 🙂" . Greetings from Paris
Omg. Just in time. It's been long time that I realise that something has to be change. Exactly as you say spending habits and mindset
@@olga26100 it really makes all the difference!
Always pay yourself 1st. When payday comes around move your set savings amount immediately, as if paying a bill. That money is then not available in your current account to just spend on impulse purchases. It's very easy to buy on impulse throughout the month and think you'll save whats left, invariably theres not much left to save if its done this way, so move the savings on payday👍
Every month I aim to put money away and every month I fail because something always comes up and needs paying! I’m not in any debt but have next to no savings either. I’m aiming for a no spend January but feels impossible with 3 kids and 2 dogs.
If Princess Anne can wear the same dress many times (over 30 years!) I think its good enough for everyone :)
I bought myself a present (jewelry) to celebrate my new job. HOWEVER, at first I thought it was too expensive. I shopped around and this seller had the best price and even lowered it a bit! If I had bought something cheaper, I know myself. I'd always still want the one I wanted in the first place. Which always leads to buying more to compensate for that. So, I bought what I originally wanted. No regrets and the best is, I find that now I really don't want anything else. It doesn't mean I'll never shop again. I'm just going to do it right this time and make sure I have separate funds (a sinking fund) for things like gifts, makeup, jewelry and hair. That way, I won't touch my emergency/investment fund. Thankfully, I have money in that, but it needs to be healthier, so I can buy investments and things that will make me more money, like having dividends to cashflow my sinking and emergency/investment funds in addition to me saving from my paycheck into them.
@@donnabennett5454 yes I think this is such an important point, it’s not about buying cheap! Treats feel so much better when they’re done from a budget that’s balanced ❤️
The dress are so cute , and please give your kitty hug and kiss from me 🥰
@@christinal3041 ah thanks so much! Will do, she’s having her crazy evening 30 mins right now and will crash out soon 😹
I've never had the money to keep up with the Jones's 😂 I've never had the salary go compete with my family...im actually on the lowest income in a large family...but I have the best health and im the only person who sleeps 8hrs a night...not many people can keep up with that 😊
I have never once heard you encourage people to shop local. It's all online isn't it?
@@fenlandwildlifeclips I often recommend local FB groups where you can either get cheap or free items secondhand. In terms of shopping local at small independent shops, sometimes it’s cheaper and sometimes it isn’t, but of course it’s great to support local businesses. It really depends what your budget can manage and what’s important to you, which are principles I repeat often.
@@TheMummyBubble shopping local is great but often far too expensive. This is more about saving money. X