$7000 is still a great savings amount!. Some people saved $0. Maybe you can look back and see what small changes you could make to help you reach this goal in 2023. You did a great job! Give yourself a pat on the back ❤️
We have a goal to save 12k on a 60k income. We are currently at 7k savings a year. We have 32k in student loan debt to lay down over the next 3 years. Thank you! ❤
With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.
Investment is a fabulous way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky. For this reason, I suggest consulting experts for advice (financial advisors). The difficulty lies in effectively employing it, not just watching videos and reading investing books.
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
Sincerely, I'm moved by what you said. I have a sizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
Margaret Johnson Arndt is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
thanks for sharing this, I am in conversations with your advisor, and she really has substance, having interviewed her properly and reviewed her model, I am hoping she takes me on quite seriously too
$10,000 sounds like a lot, but when you break it down to the most basic level, it's only $27.40 per day. Even when we were on food stamps, we could afford that. The key is to get out of debt first. We had to give up a lot. We had no subscriptions, bought no alcohol, didn't go through a McDonald's or buy clothes or makeup or anything that wasn't an absolute necessity for survival for 20 months. We lived off of rice, potatoes, chicken, eggs, and cheap vegetables and bananas. It was rough, but it was such a short chapter in our lives.
Yes ! That’s what I’m starting now. I’m doing a No buy. I imagine by the end of the year I’ll have about $18,000 (including our tax return). It’s just a short amount of time so we can pay off my husband’s car and finally have a savings !
I think $27.40 is very doable, but the problem is most people aren’t paid daily. Having a savings goal that is realistic with your income is what’s going to make the most difference. Thank you for sharing your experience and congratulations on overcoming those obstacles! 💕
@@ohshebudgets my husband was paid bi-weekly. We weren't putting that money in the savings every day, but knowing that number made it more motivating to avoid those frivolous purchases everyday and whenever my husband got paid, we always had leftover money to set aside. My husband's coworkers thought he was crazy for packing lunch and dinner every day, but they were spending like $40-$50 on fast food every day and complaining that they didn't make enough money. In reality, they were just frivolous with their daily spending habits. And thank you! We are so happy that we did what we did. We feel so accomplished. People don't understand how we were able to buy a house on one income and I wish more people knew how doable it is when they prioritize and work hard.
@@IrishTwinMaker absolutely! The sooner they learn the better off financially they would be. I’m happy I have learned early asking so when my income does increase (🤞🏾) I can still manage.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
The best course of action is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic
The Adviser I'm in touch with is *'John Desmond Heppolette'* he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me he strategy works hence my result. He provides entry and exit point for the securities I focus on.
this recommendation came at right time, very much appreciate it. curiously inputted his full name on my browser and found his site top search, no bs.. over 20 years of experience is certainly striking!
I started my $10K emergency fund in January and I was able to save $7,500 by the end of 2022. It wasn't a perfect journey, but here's what helped me: - automate my savings (10% goes to my account every paycheck) - put it in a high-yield savings account: I was able to accrue ~$80 because of the interest rate this year) - throw in additional income that comes my way - if I have leftovers in my checking account after I budget, I throw it in my EF - pause my contribution to my HSA and Roth IRA temporarily so I can focus on EF For context, I make 68K a year but live in a metropolitan city in the US, so my cost of living is high. I'm proud of what I'm able to save though!
You are a major motivation! I am in a similar location and annual income level. So many of the videos I see involve situations that dont really translate well to me, but your experience is what I needed to hear :)
I'm a janitor in southern cali where its expensive to live. I live on my own. I make 62k-66k depending on the overtime I work for that year. I'm able to save about 16k in savings and investments. So it is possible. Just my savings reads 73k I plan to save 15k this year. You just have to budget and every lil bit adds up.
Luis have you considered working for an apartment complex? If you have handy man skills, it may be possible to get an opportunity. Many of those positions offer an apartment which may be rent free. If you own your own home or vested in your current organization/company, this may or may not be feasible. Your skills and experience are a goldmine.
A lot of times the low income issue isn’t the problem, it’s just all the bills 🙃 I’m overworked but I’m going to get into cash stuffing and just go forth with a positive attitude
Hi Brie! Thank you so much for the super thanks and watching this video! I used to think about “what else can I cut out” until I realized I just needed some more income too. Wishing you the best of luck on your journey in 2023! ❤️✨
Exactly I currently have 3 things I do for money and in 2023 taking a position to make more money and enrolling for my MSW with tuition reimbursement!!! This is needed!!!!
Though everyone loves the luxury lifestyle but many don't want to take the risk to invest or work for it.. Now's the best time to buy the dip and it's an opportunity that will grant you all the luxury you crave for.Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2023 and I believe it's my time to invest and shine for a better future.
I think the one thing most investors miss when calculating intrinsic value, is that they look solely at the history to estimate growth in the future. The growth rate is very important, it arguably should take the most time in valuation. The past 10 years could be unusually good/bad due to acquisitions/dispositions affecting financials. Look to the future and make your best judgements.
There is one thing I have learned in recent months it is to remain calm, especially when it comes to investment in Stock. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.
You are right but the market is profitable if you are using a really good broker or account manager to help out with trades or provide signals. Having monitored my portfolio performance which has made a jaw dropping of over a million dollars from just the past two years, I have learned why experienced traders make enormous returns from the seemingly unknown market.
My Financial adviser I’m investing with is ‘’Colleen Janie Towe’’ and she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Yay! I’m happy to hear that! I’m so glad this will help you with your 2023 plans as well! This strategy can work with any savings goal! Best of luck on your savings journey ❤️
I want to say thank you for sharing this. Not gonna lie my initial reaction was "but I only get paid once a month and I am low income!" But seeing you break it down and how you figure out the second bucket really has my mind going. I'm new to the savings game and tired of living paycheck to paycheck fearing emergencies. This is extremely helpful and I watched your video where you break down your income so I know I can do it. 😁
Hi Leah! I’m so happy you found this video helpful to you. $10,000 is a big number and can be scary. When we break it down into smaller goals it gives us hope, even on a low income. Even if it’s not $10,000 I hope you can use this plan to help you with your own financial goals. ❤️
Yup, my husband and I are in the same boat, only get paid once a month and low income. Previous years we were able to save half our income, so it is doable.
I just started exotic dancing ( I know it's not the ideal occupation but I'm a single mother and don't plan on dancing long ) Anyways I plan on saving $330 everyday a month that's $9,900 a month. I plan on doing that for the whole 2023. After that I will be getting a regular job. Thanks u motivated me.
No dancing is an awesome job. The part that makes it hard to save is that it’s up to you to put the money aside. I danced for most of my 20’s and made incredible money but unfortunately wasn’t great with finances. I just worked whenever I felt like it, no consistency. And didn’t take money serious cause honestly at times it felt like it was so easy to get. I mean I traveled a lot and got to do alot of cool things that I wouldn’t have been able to afford working the jobs I was before I danced.
Hi Melissa! I’m so glad this video is going to be helpful to you and help your reach your money goals! I can’t wait for you to share the update that you paid it off in 2023! Best of luck ✨
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.
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.
I love this video. I've been on both sides of the poverty line in my adult life and it can change either way so fast. And I know people who make way more than me and my family that are struggling and people who make less than are thriving. It's all about prioritizing your income. We're coming out of a very difficult financial time and trying to save up for a down payment on a house. Thank you for this video ❤️
Thank you for sharing your thoughts. I used to be so hard on myself having low income until I learned how to manage my money better. Do I wish I had more, of course, but learning how to create a budget and save now is going to help a lot in the future. Best wishes on your savings journey this year. The house is yours ☺️❤️
I love how you mentioned you had just over 2k subs and now you are almost at 4K in 2 days! This video will surely help you reach your saving goals and grow your channel 🙌🏻
Thanks Sarah! It’s crazy how things can change in a matter of days. I’m so happy to be building this community and if I can help a least one person a day my heart is filled. ❤️
I love this video so much. Very insightful and relatable. Growing up I never believed I could obtain $10,000 at one time. This gives me hope. Thank you Budget Queen!
I used to think $10,000 was so far away myself but I learned to look at it as small goals versus one big one. You got this king! Thanks for watching and supporting my channel ☺️❤️
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@kenanporubsky2122 My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
We’ve all had a few humbling experiences. I know I have for sure! Being able to save $3k in one is amazing! I just reached my highest saving last month at $1281 and even that was a blessing! ☺️
It's only a loss on paper, and when you sell as a loss, the market always recovers at a much higher rate. History proves this. The key is simply investing for the long term to reap the benefits, The problem is that most people panick when they see a decline in their stock value and sell off.
Hey friends! Thanks so much for tuning in to today’s video! Do you think this method/ strategy will be helpful for you? I would love to know in the comments. ❤️
Tip; When I save 1k, I buy a CD. You can buy them as little as 1 month. At least you can make some interest over the year while your saving. They now have fractional CDs if you don’t want to wait until you have that much. You could use the interest to subtract from what you need in the buckets
This year I used my CD from 2021 to pay off my credit cards and I’m glad I did! I think once I save up enough in my emergency fund will put part of that in a CD as well. Thanks so much for your suggestion! ☺️
@@emmyknowsbeauty810 they have different term lengths. Shorter or longer. The idea is to let the money sit and gain interest. It’s “locked “ until the term is up. You would have to check with your bank to see what the terms and fine print details are.
@@ohshebudgets thank you dear for your reply, I would get emails from my bank for 4.5% and read reviews that it wasn't worth it. But you recommend doing it?
@@emmyknowsbeauty810 absolutely if you’re just going to have the money sitting. It’s more than you can get from the banks. Those people are mostly telling you to invest, which is not completely wrong, but it can help to earn extra for some short term goals for sure. ☺️
Just found your channel this morning and subscribed and really enjoyed this video. My husband and I decided to set a goal for saving $20,000 for this year which will entail a lot of hard work.We have gotten into some bad spending habits and my husband and I are both on board with really cutting back and being intentional with our spending. We were always very frugal when we were raising our kids, but between our kids growing up and going out on their own and building their own families and my husband’s income going up over time we stopped being so frugal. He wants to retire in a few years and we’ve got to get a handle on our spending.Whether I can do this amount or not depends on a lot of things ,like you I have some side hustles. But we also have other things we have to take care of this year, which are fairly expensive with our home and cars and stuff. But I’m going to do my best to make it happen, and I find it really fun to see someone else with the same goals that I can follow along with . I am going to go back and watch some of your other videos , I really want to learn how to budget better and get back to the basics where we used to be 20 years ago. I am very happy to have found your channel, I feel I can learn a lot, and I really appreciate the time you take to make these videos!
Hi Stephanie! Thank you so much for joining me and following along on my journey. I love that you and your husband are working together to accomplish these goals! That’s so amazing! Its good you know where things went wrong so you know what can and doesn’t work for you guys. Try this plan with $20,000 and see if it’s realistic for you guys. Even if it’s not start small.. you mentioned have some more expensive responsibilities that needs attention this year, did you guys plan or put money for those? Budgeting and being intentional with your money and spending is what’s really going to help you guys get back on track. Use 2023 to reset so you guys can have a good relationship with your money and hubby can retire early. You guys got this! ❤️
I absolutely agree on talking with people, who are like minded and wanting to save, or pay off debt . Trying to speak to someone who understands, but doesn’t want to reach goals is draining. Then you hear how their bills is due and need money , and that throws you off from your goals/aspirations. . Can’t asked me anymore I’m over it. I have a TH-cam I created in October, and working on bringing more content, so that I can use TH-cam as an income source as well.
I love talking to like minded people. Then it doesn’t seem like always talking about money. Having the extra money coming from TH-cam is a blessing for sure! Best of luck to you this year! ❤️
New subscriber here. Love how you break it down. You have a nice voice as well. Can’t wait to see your progress. My 21 yr old daughter and I are doing a no spend 3-6 months. We start January 1, 2023. I’m hoping my daughter decides to go longer as she needs a car and last one she bought she paid cash for, but with the increase on car prices and everything else, this is one way to get it done painlessly. She’s works in a nice retail store, so it will be quite difficult for her, not as difficult for me. I plan to get a second job just to save extra money for a car and a move from TN back to Texas to be closer to my family. So exciting!!
Thank you so much watching and joining me. No spend months are a great way to really decide on wants versus needs. It also allows you to save a little extra each month. Hopefully 2023 is starting off great for you guys! Best of luck this year💕
This is my goal as well! I am convinced that I will achieve this! I’m blessed to have a job that pays well so I am able to automate 20% of my check into a high interest savings account. A budget planner and focus are also helping me. Good luck with your savings as well!
Thank you!! Having a plan is already setting yourself up for success! Having those automated savings is surely going to help by creating consistency and adding in extra from your HYSA. Good luck!
I live paycheck to paycheck, I get daily pay app, so I take at least 10$ a day that work, I can only save 200 a month, it’s not much but it’s better than nothing
$200 a month in savings is great! You’ll be surprised at how many people who aren’t saving at all. You’re doing a great job and don’t let anyone make you feel otherwise 💜✨
I love this breakdown. I felt overwhelmed with the figure when you started, but the breakdown made it absolutely doable with overtime and my side hustle. Thanks for sharing.
Hi Tonya! $10,000 can be scary, but as you can see very attainable for some. I’m glad you can incorporate this plan in your saving goal as well. Thank you so much for watching!
I love this breakdown and I will use it to build up my emergency fund. I am going to crunch the numbers and see if I can make it work from my paychecks and I will have part time income from a seasonal job from April - June that I can put towards it as well. One of my savings goals for 2023 is to save for retirement and I will do the 25 envelope challenge to start and after I complete that I will do the nickel challenge.
Yes I just started travel nursing again so it will be much easier to save. I’m with you let’s do this. I’ve gotten a second job to help me reach my goals🙌🏽
It is so rare to find sound advice for basic savings. The visual representation and break down of the goal and income sources really helped solidify and inspire a new way for me to save.
I saved 10k in 6 months doing Doordash putting away anywhere from $100 one week to $1k however life happen had to make adjustments made dumb decisions im back goals still the same going back to basics is also important that's what im going to do i also trying to buy a home but i want to come correct with something i try not to beat myself and continue striving i did it once i will do it again having a consistent schedule devoted especially to a side hustle works you get what you put in i have a few W2's and 7 1099's always on deck i like variety i keep at least 2 1099 on rotation each week
I had to come back and say thank you bc I never looked at my paycheck as two mini payments in one. I always looked at it as a whole. I realize that I could save an extra $400 that way. I appreciate your video and time that you took to make it 😊
That’s awesome! I found that breaking down the big numbers into smaller goals or savings make it more achievable whereas we didn’t really think we could. $400 is amazing!! I’m glad I could help! ☺️❤️
Nowadays everything is expensive. Thankfully i bought my home in 2017 which saves me a ton. I’m not sure I would be able to afford todays rent and mortgage prices😬
If you're new to the world of wealth-building, partnering with a financial advisor is an excellent way to begin your journey. I was able to accumulate substantial gains by working with an FA[financial advisor]. They assist in managing your overall investment risk profile, preventing permanent capital loss, and ensuring that your investments are broadly diversified, taking into account your personal risk tolerance, time horizon, and financial goals.
I agree that seeking the guidance of a Financial Advisor is crucial in finding the right balance between saving and living. However, it can be challenging to find a trustworthy and credible Financial Planner. What steps can one take to locate a verifiable Financial Planner?
@@patrickjones1392 That's a great question! Here are a few steps i took to find a trustworthy and credible Financial advisor: 1. Look for a Certified Financial advisor/expert -they are professionals who have gone through rigorous training and are held to strict ethical standards. 2. Check their credentials - You can verify a Financial Planner's credentials by checking with the Financial Industry Regulatory Authority (FINRA) or the Securities and Exchange Commission (SEC).
3. Check their experience - Look for a Financial Planner who has experience working with clients who have similar financial goals as yours. 4. Trust your instincts - Ultimately, you want to work with someone you feel comfortable with and trust.
I love how you broke the goal down and choose to side hustle part of the savings instead of forcing it all to come out of your paycheck. I’m definitely using this method. I’m also saving for a house down payment!
It just makes more sense to me that way. With my current income I would have nothing leftover for food, fun, or other things if I did it that way. I have to be realistic! I’m glad you will use this method too. You got this! Happy Savings! ❤️
Hi Shawna! $27.40 is for sure a lot less scary to think about. I’m paid biweekly so that’s how my brain figured it makes sense for me. For those who can do a daily transfer for this small amount can still reach this goal! Thanks so much for sharing another perspective ❤️
Bravo! I thoroughly enjoy your content. My savings goal is 10K at least this year as well. Be encouraged that you are “in your lane” with your channel. Keep it up.
That’s great! We don’t want to set ourselves up for failure, so I’m happy you realize you can still do it even if it’s not $10k. Whatever your goal is you can use this strategy to achieve it! Best of luck ✨
Mercari and Poshmark is definitely a help I’ve been doing it for over three years now 😊thinking about starting back on eBay as well 😊 Me and my fiancé are setting this goal for this year and trying to set it higher if possible 😊 we are going for a simple outside wedding on my Family land where my Father and Mother was married as well 😊
Great video. Just wanted to add another way of adding to your bucket 2 saving can be cash back from credit card reward points. Most credit cards offer cash back on purchases so if you use it regularly on everyday expenses rather than cash or debit you are earning rewards which you can redeem for cash. Just make sure to pay your bills off at the end of the month to avoid getting charged interest. Investing your money in a low risk safe investment will make your money work for you and grow your savings as well.
I would love to be able to use my credit card as my debit card. I am still on the fence since I just got of debt and I want to make sure I have the discipline to keep it that way. 🤞🏾
I saved the most money when I was a waitress, that $417 was easier when I made cash from tips. Now I work at a factory and I feel like I just got in more debt cause I got more money and went a little over bored. I'm so used to the spending habit that I have now it's hard. But I'm gradually slowing down on the spending. And after my kids and Bills are taken care of I put the rest of my money up. And I eat from home.
Yes having cash daily is a lot easier but a lot of people don’t have that luxury.. including me. Sounds like you experienced lifestyle creep and thankfully are transitioning away from that. Good for you!
Thank you so much for the visuals! I am planning to save $4k -- I have a scar revision and Lasik surgery I am saving for. Looking at my finances, I can see where my money has been sucked into-- Amazon lmao So, I've decided to do a No Spend Challenge And I've been doing dog walking, I plan on making digital products, focus groups, and doggy daycare since I have a WFH job. I'm going to check out Adia, but I am super confident that I am going to reach my goal!
You already doing some great side hustles and at finding ways to generate extra income. I keep thinking of getting into digitals like creating an Etsy account. I think Amazon is where a lot of people spend the most. 😂😂 I’m positive you will reach your goal. Good luck!
Yes, you are right. Some people are buying coffee and takeaway multiple times a day and the cost begin to skyrocket which makes it difficult to budget.
I'm basically giving my landlord 10k a year for rent 🤦🏾♀️😫Which is why I'm trying to buy my house & make it for rental property. I have a amount deducted from all my pay. Which is my payroll, mileage & bonus. And I always pay myself first.
Congratulations Sis!!🎉 U have done awesome on your journey…I can’t wait to get back on board for the new year have been very inconsistent and just fell off tremendously, but I’m def ready for 2023
I currently don’t make enough to comfortably take it all from my paycheck which would be approximately $417 biweekly. The breakdown in this video is how I’m making it work which is bringing in extra income. If you’re able to do it without extra income I say go for it. ☺️
Hi! This video showed up in my feed. I’m so glad I watched it. You provide a very good explanation and the visual breakdown is great for visual learners like me! Great job.
It’s so tempting trust me I know. It doesn’t help that outside is so expensive, so I stay in as much as I can to resist some of the temptation. Small changes is what’s going to help. You got this! ❤️
The key is in the title... "plan to save" ... most people just think it will happen but you have to plan it AND do it... I put $1000 per fortnight straight in, plus anything left over each time our next pay goes in each fortnight... sometimes it's $80, sometimes that's $580 We have $25,000 in our savings but spend it whenever we want as well... ;) we just bought ebikes not long ago.. and like a few nice things so do not scrimp too much. we have no debt except mortgage. No kids. Better living everyone 😌
That’s something I’ve learned on my journey. Saying it is one thing, applying it is another. Once I’m debt free and have a nice saving I will feel like I’ve done it all. Thank you for the motivation ☺️
@@ohshebudgets Ah, that would be an issue lol. The needle is the size of a capri sun straw 🙃 I usually just dont look when it goes in and watch youtube or read the whole time
I wanna save that too💜 I also wanna open a TH-cam video eventually. ❤️ Amen to the breaking outta paycheck to paycheck cycle..I love the aesthetic of your video, including the writing with markers💓💕
As of night now I’m going to use the savings challenges in my savings challenge book to help with this goal. So I’ll be cash stuffing those savings challenges in 2023 ☺️❤️
This is a simple and great strategy! I get paid biweekly so it’s easier for my brain to break it down that way 😂 don’t forget to add it to your HYSA to make a little extra on your money ❤️
Hi...I am a little confused...the breakdown of bucket one and two...when you devide the 417...where is the second 208 coming from? Its not clear where the second half comes from since we are not paid weekly...but biweekly. Thanks.
For bucket #1, I divided the $417 in half since I am paid biweekly so this means each paycheck I’ll put aside $209 to save towards this goal. $209 from paycheck #1 then $209 from paycheck #2. This will take care of half of what I would need to save for the month. I hope that makes sense.
@@ohshebudgets I am doing small saving challenges and transferring it into my high yield savings account with capital one until it is completed. That’s my plan/strategy .
Also Remember to put some money in a high yield savings account and keep depositing money in it so that way in 20 or 30 years later you should have like $150k to $400k in that account That’s what I’m doing with my money for the long term. I’m signing up with American Express for the high yield savings account
You are so welcome! I’m glad you found it helpful. Small amounts seem much more attainable to me than seeing the big number. Thank you for sharing! I hope you can use this plan for any savings goals you have for this year as well ☺️❤️
Month #2 update:
th-cam.com/video/381IhXRmjmg/w-d-xo.html
I had a $10,0000 goal on 2022 but only saved $7,000 still very proud of myself
$7000 is still a great savings amount!. Some people saved $0. Maybe you can look back and see what small changes you could make to help you reach this goal in 2023. You did a great job! Give yourself a pat on the back ❤️
That’s amazing!
We have a goal to save 12k on a 60k income. We are currently at 7k savings a year. We have 32k in student loan debt to lay down over the next 3 years. Thank you! ❤
$7000 is still a great amount, congratulations! 🎉 Most of the Americans have less than $1000 in savings.
Well done!🎉
With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.
Investment is a fabulous way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky.
For this reason, I suggest consulting experts for advice (financial advisors).
The difficulty lies in effectively employing it, not just watching videos and reading investing books.
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
Sincerely, I'm moved by what you said. I have a sizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
Margaret Johnson Arndt is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
thanks for sharing this, I am in conversations with your advisor, and she really has substance, having interviewed her properly and reviewed her model, I am hoping she takes me on quite seriously too
$10,000 sounds like a lot, but when you break it down to the most basic level, it's only $27.40 per day. Even when we were on food stamps, we could afford that. The key is to get out of debt first. We had to give up a lot. We had no subscriptions, bought no alcohol, didn't go through a McDonald's or buy clothes or makeup or anything that wasn't an absolute necessity for survival for 20 months. We lived off of rice, potatoes, chicken, eggs, and cheap vegetables and bananas. It was rough, but it was such a short chapter in our lives.
Yes ! That’s what I’m starting now. I’m doing a No buy. I imagine by the end of the year I’ll have about $18,000 (including our tax return).
It’s just a short amount of time so we can pay off my husband’s car and finally have a savings !
I think $27.40 is very doable, but the problem is most people aren’t paid daily. Having a savings goal that is realistic with your income is what’s going to make the most difference.
Thank you for sharing your experience and congratulations on overcoming those obstacles! 💕
@@ohshebudgets my husband was paid bi-weekly. We weren't putting that money in the savings every day, but knowing that number made it more motivating to avoid those frivolous purchases everyday and whenever my husband got paid, we always had leftover money to set aside. My husband's coworkers thought he was crazy for packing lunch and dinner every day, but they were spending like $40-$50 on fast food every day and complaining that they didn't make enough money. In reality, they were just frivolous with their daily spending habits. And thank you! We are so happy that we did what we did. We feel so accomplished. People don't understand how we were able to buy a house on one income and I wish more people knew how doable it is when they prioritize and work hard.
@@IrishTwinMaker absolutely! The sooner they learn the better off financially they would be. I’m happy I have learned early asking so when my income does increase (🤞🏾) I can still manage.
It was a nice short chapter I’m glad it’s over for you but for some it’s hard
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
The best course of action is to ask a consultant or investing coach for guidance or assistance.
Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic
The Adviser I'm in touch with is *'John Desmond Heppolette'* he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television.
You can use something else. for me he strategy works hence my result. He provides entry and exit point for the securities I focus on.
this recommendation came at right time, very much appreciate it. curiously inputted his full name on my browser and found his site top search, no bs.. over 20 years of experience is certainly striking!
I started my $10K emergency fund in January and I was able to save $7,500 by the end of 2022. It wasn't a perfect journey, but here's what helped me:
- automate my savings (10% goes to my account every paycheck)
- put it in a high-yield savings account: I was able to accrue ~$80 because of the interest rate this year)
- throw in additional income that comes my way
- if I have leftovers in my checking account after I budget, I throw it in my EF
- pause my contribution to my HSA and Roth IRA temporarily so I can focus on EF
For context, I make 68K a year but live in a metropolitan city in the US, so my cost of living is high. I'm proud of what I'm able to save though!
That is amazing! Congratulations!
Thank you for these tips
You are a major motivation! I am in a similar location and annual income level. So many of the videos I see involve situations that dont really translate well to me, but your experience is what I needed to hear :)
Thank you for these ideas
Congrats.
I'm a janitor in southern cali where its expensive to live. I live on my own. I make 62k-66k depending on the overtime I work for that year. I'm able to save about 16k in savings and investments. So it is possible. Just my savings reads 73k I plan to save 15k this year. You just have to budget and every lil bit adds up.
Luis have you considered working for an apartment complex? If you have handy man skills, it may be possible to get an opportunity. Many of those positions offer an apartment which may be rent free. If you own your own home or vested in your current organization/company, this may or may not be feasible. Your skills and experience are a goldmine.
I am also a cleaner in Canada. I am the only bread winner my hubby home full time with our annimal.
I make Around 30k and last year saved 17k in 6 months and 10k ln the other half of the year because I travelled for 2ms
@@Homeofcraftsideas 30k -17h -10k = 3k. So you lived off around 3k the entire year? How??
@@alicia_nicole lived with my parents
A lot of times the low income issue isn’t the problem, it’s just all the bills 🙃 I’m overworked but I’m going to get into cash stuffing and just go forth with a positive attitude
A positive mindset is a great start! I’ve eliminated and minimized a lot of bills to free up money in my budget. You got this! ❤️
Thanks for an inspiring video! I have started my planning for 2023 and realised I need to focus on earning more not just spending less!!
Hi Brie! Thank you so much for the super thanks and watching this video! I used to think about “what else can I cut out” until I realized I just needed some more income too. Wishing you the best of luck on your journey in 2023! ❤️✨
Exactly I currently have 3 things I do for money and in 2023 taking a position to make more money and enrolling for my MSW with tuition reimbursement!!! This is needed!!!!
@@Melanatedminimalist congratulations on your new position! Best wishes on your new endeavors ❤️✨
Oon
You’re so right. Those two things work in tandem with each other
Though everyone loves the luxury lifestyle but many don't want to take the risk to invest or work for it.. Now's the best time to buy the dip and it's an opportunity that will grant you all the luxury you crave for.Very interesting content, i would also be glad if anyone here can explain a few things for me, this is 2023 and I believe it's my time to invest and shine for a better future.
I think the one thing most investors miss when calculating intrinsic value, is that they look solely at the history to estimate growth in the future. The growth rate is very important, it arguably should take the most time in valuation. The past 10 years could be unusually good/bad due to acquisitions/dispositions affecting financials. Look to the future and make your best judgements.
There is one thing I have learned in recent months it is to remain calm, especially when it comes to investment in Stock. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.
You are right but the market is profitable if you are using a really good broker or account manager to help out with trades or provide signals. Having monitored my portfolio performance which has made a jaw dropping of over a million dollars from just the past two years, I have learned why experienced traders make enormous returns from the seemingly unknown market.
What strategy do you use please?
My Financial adviser I’m investing with is ‘’Colleen Janie Towe’’ and she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Yes! It is absolutely possible. With a solid budget, intentionality, determination and faith…be prepared to be blown away. ♥️
Yes I’m going to do it ❤❤❤❤
I agree with you! Having faith that it can and will be done is going to help a lot! I’m ready! ❤️
I love how you break it down and not make it just one big number. I started making my 2023 savings plan last night and this will help a TON!!!
Yay! I’m happy to hear that! I’m so glad this will help you with your 2023 plans as well! This strategy can work with any savings goal! Best of luck on your savings journey ❤️
I want to say thank you for sharing this. Not gonna lie my initial reaction was "but I only get paid once a month and I am low income!" But seeing you break it down and how you figure out the second bucket really has my mind going. I'm new to the savings game and tired of living paycheck to paycheck fearing emergencies. This is extremely helpful and I watched your video where you break down your income so I know I can do it. 😁
Hi Leah! I’m so happy you found this video helpful to you. $10,000 is a big number and can be scary. When we break it down into smaller goals it gives us hope, even on a low income. Even if it’s not $10,000 I hope you can use this plan to help you with your own financial goals. ❤️
Yup, my husband and I are in the same boat, only get paid once a month and low income. Previous years we were able to save half our income, so it is doable.
Love how the focus was generating more income to save rather than limiting the things you do.
I got rid of as much as I could until I realized that I needed to make more. Its not always easy but necessary ☺️
I just started exotic dancing ( I know it's not the ideal occupation but I'm a single mother and don't plan on dancing long ) Anyways I plan on saving $330 everyday a month that's $9,900 a month. I plan on doing that for the whole 2023. After that I will be getting a regular job. Thanks u motivated me.
We all start somewhere. Forget what others think and do what works best for you. Best of luck in 2023! ❤️
Why can’t you just get a job as a secretary? No judgement but that’s a lot of crazy energy around you! And you can save more w a 9-5.
No dancing is an awesome job. The part that makes it hard to save is that it’s up to you to put the money aside. I danced for most of my 20’s and made incredible money but unfortunately wasn’t great with finances. I just worked whenever I felt like it, no consistency. And didn’t take money serious cause honestly at times it felt like it was so easy to get. I mean I traveled a lot and got to do alot of cool things that I wouldn’t have been able to afford working the jobs I was before I danced.
Anna, just stay focused on the money aspect and figure out what works for you. Dancings a wonderful job if you’re cut out for it.
You're a good mom for doing whatever you have yo do for your kids.
What a great breakdown. I am trying to pay $10000 off in credit cards and this will help immensely
Hi Melissa! I’m so glad this video is going to be helpful to you and help your reach your money goals! I can’t wait for you to share the update that you paid it off in 2023! Best of luck ✨
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.
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.
@@LovelyRubyrubyCould you be kind enough to drop a lead to him? Thank you in advance.
@@LadylikeLilybeeSure,
Hermanw jonas (a g mal comm
I appreciate your response. I shot him a message. I’m excited to start investing!
I love this video. I've been on both sides of the poverty line in my adult life and it can change either way so fast. And I know people who make way more than me and my family that are struggling and people who make less than are thriving. It's all about prioritizing your income. We're coming out of a very difficult financial time and trying to save up for a down payment on a house. Thank you for this video ❤️
Thank you for sharing your thoughts. I used to be so hard on myself having low income until I learned how to manage my money better. Do I wish I had more, of course, but learning how to create a budget and save now is going to help a lot in the future. Best wishes on your savings journey this year. The house is yours ☺️❤️
I love how you mentioned you had just over 2k subs and now you are almost at 4K in 2 days! This video will surely help you reach your saving goals and grow your channel 🙌🏻
Thanks Sarah! It’s crazy how things can change in a matter of days. I’m so happy to be building this community and if I can help a least one person a day my heart is filled. ❤️
So smart! The first step is believing it is possible and you've done a great job demonstrating that!
Thank you! A lot of things are mental and believing you can achieve something is the start you need. Thank you so much for watching ✨
I love this video so much. Very insightful and relatable. Growing up I never believed I could obtain $10,000 at one time. This gives me hope. Thank you Budget Queen!
I used to think $10,000 was so far away myself but I learned to look at it as small goals versus one big one. You got this king! Thanks for watching and supporting my channel ☺️❤️
I’m gonna try save £20,000 in 2023
I’m praying for everyone of you all during ur endeavour
You got this! Set a plan and go for it! Amazing things can happen ☺️
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@angelicaaquino4109 Impressive! can you share more info?
@@kenanporubsky2122 My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I’m back to being humbled after losing $70k of my life savings in the stock market. Now I’m starting over and have currently saved 3k in over a month
We’ve all had a few humbling experiences. I know I have for sure! Being able to save $3k in one is amazing! I just reached my highest saving last month at $1281 and even that was a blessing! ☺️
It's only a loss on paper, and when you sell as a loss, the market always recovers at a much higher rate. History proves this. The key is simply investing for the long term to reap the benefits, The problem is that most people panick when they see a decline in their stock value and sell off.
Hey friends! Thanks so much for tuning in to today’s video! Do you think this method/ strategy will be helpful for you? I would love to know in the comments. ❤️
Yes, this was very helpful. I saving 10,000 as well.
Yes! New Subbie, you're almost at 5k!!
@@angelapayne2976 I’m happy it was helpful! Keep me updated ☺️❤️
@@LL-eb7bn thank you for subscribing! Growing tremendously ☺️
Tip; When I save 1k, I buy a CD. You can buy them as little as 1 month. At least you can make some interest over the year while your saving. They now have fractional CDs if you don’t want to wait until you have that much. You could use the interest to subtract from what you need in the buckets
This year I used my CD from 2021 to pay off my credit cards and I’m glad I did! I think once I save up enough in my emergency fund will put part of that in a CD as well. Thanks so much for your suggestion! ☺️
Please can you elaborate more on the CDs? So do you get it for just a year?
@@emmyknowsbeauty810 they have different term lengths. Shorter or longer. The idea is to let the money sit and gain interest. It’s “locked “ until the term is up. You would have to check with your bank to see what the terms and fine print details are.
@@ohshebudgets thank you dear for your reply, I would get emails from my bank for 4.5% and read reviews that it wasn't worth it. But you recommend doing it?
@@emmyknowsbeauty810 absolutely if you’re just going to have the money sitting. It’s more than you can get from the banks. Those people are mostly telling you to invest, which is not completely wrong, but it can help to earn extra for some short term goals for sure. ☺️
Just found your channel this morning and subscribed and really enjoyed this video. My husband and I decided to set a goal for saving $20,000 for this year which will entail a lot of hard work.We have gotten into some bad spending habits and my husband and I are both on board with really cutting back and being intentional with our spending. We were always very frugal when we were raising our kids, but between our kids growing up and going out on their own and building their own families and my husband’s income going up over time we stopped being so frugal. He wants to retire in a few years and we’ve got to get a handle on our spending.Whether I can do this amount or not depends on a lot of things ,like you I have some side hustles. But we also have other things we have to take care of this year, which are fairly expensive with our home and cars and stuff. But I’m going to do my best to make it happen, and I find it really fun to see someone else with the same goals that I can follow along with . I am going to go back and watch some of your other videos , I really want to learn how to budget better and get back to the basics where we used to be 20 years ago. I am very happy to have found your channel, I feel I can learn a lot, and I really appreciate the time you take to make these videos!
I came across a budgeting video in 2019 I haven’t look back since ,it’s the best thing ever.
Watch more videos in a for motivation and you got this 🙏
20, 000 is doable by saving 385 weekly if possible.
Hi Stephanie! Thank you so much for joining me and following along on my journey. I love that you and your husband are working together to accomplish these goals! That’s so amazing! Its good you know where things went wrong so you know what can and doesn’t work for you guys. Try this plan with $20,000 and see if it’s realistic for you guys. Even if it’s not start small.. you mentioned have some more expensive responsibilities that needs attention this year, did you guys plan or put money for those?
Budgeting and being intentional with your money and spending is what’s really going to help you guys get back on track. Use 2023 to reset so you guys can have a good relationship with your money and hubby can retire early. You guys got this! ❤️
I absolutely agree on talking with people, who are like minded and wanting to save, or pay off debt . Trying to speak to someone who understands, but doesn’t want to reach goals is draining. Then you hear how their bills is due and need money , and that throws you off from your goals/aspirations. . Can’t asked me anymore I’m over it. I have a TH-cam I created in October, and working on bringing more content, so that I can use TH-cam as an income source as well.
I love talking to like minded people. Then it doesn’t seem like always talking about money. Having the extra money coming from TH-cam is a blessing for sure!
Best of luck to you this year! ❤️
New subscriber here. Love how you break it down. You have a nice voice as well. Can’t wait to see your progress.
My 21 yr old daughter and I are doing a no spend 3-6 months. We start January 1, 2023. I’m hoping my daughter decides to go longer as she needs a car and last one she bought she paid cash for, but with the increase on car prices and everything else, this is one way to get it done painlessly. She’s works in a nice retail store, so it will be quite difficult for her, not as difficult for me. I plan to get a second job just to save extra money for a car and a move from TN back to Texas to be closer to my family.
So exciting!!
Thank you so much watching and joining me. No spend months are a great way to really decide on wants versus needs. It also allows you to save a little extra each month. Hopefully 2023 is starting off great for you guys! Best of luck this year💕
This is my goal as well! I am convinced that I will achieve this! I’m blessed to have a job that pays well so I am able to automate 20% of my check into a high interest savings account. A budget planner and focus are also helping me. Good luck with your savings as well!
Thank you!! Having a plan is already setting yourself up for success! Having those automated savings is surely going to help by creating consistency and adding in extra from your HYSA. Good luck!
I live paycheck to paycheck, I get daily pay app, so I take at least 10$ a day that work, I can only save 200 a month, it’s not much but it’s better than nothing
$200 a month in savings is great! You’ll be surprised at how many people who aren’t saving at all. You’re doing a great job and don’t let anyone make you feel otherwise 💜✨
I love this breakdown. I felt overwhelmed with the figure when you started, but the breakdown made it absolutely doable with overtime and my side hustle. Thanks for sharing.
Hi Tonya! $10,000 can be scary, but as you can see very attainable for some. I’m glad you can incorporate this plan in your saving goal as well. Thank you so much for watching!
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I love this breakdown and I will use it to build up my emergency fund. I am going to crunch the numbers and see if I can make it work from my paychecks and I will have part time income from a seasonal job from April - June that I can put towards it as well. One of my savings goals for 2023 is to save for retirement and I will do the 25 envelope challenge to start and after I complete that I will do the nickel challenge.
What is the nickle challenge?
Hey Tamika! I would love to hear what your final number came out to be once you’ve reviewed your income to see what goal amount is good for you. ☺️
I am going to save $5000
@@tamikajones6970 I know you will accomplish it! 🌹
Thank you hun ❤️
I love this video because I don’t have any friends that will do this with me.. it’s so good to have someone to encourage you
Do it with me! I have constantly remind myself “financial goals” then I know the work is temporary and I can relax soon.
Yes I just started travel nursing again so it will be much easier to save. I’m with you let’s do this. I’ve gotten a second job to help me reach my goals🙌🏽
@@treasureworthfinding6090 that’s amazing! Keep me update ☺️❤️
It starts 3:13. Really good info 💓
Thank you so much for watching. I’m glad you enjoyed it and hope you felt it was helpful ❤️
I’m a teacher assistant in MS. I work part time at local Walmart. So yes I’m low income. Thanks.
Setting a goal that’s realistic and attainable for you is the best way to set yourself up for success! Best of luck ☺️❤️
It is so rare to find sound advice for basic savings. The visual representation and break down of the goal and income sources really helped solidify and inspire a new way for me to save.
You’re welcome! Creating a visual for myself really helped show that it is in fact possible. I’m glad this video could help you!
I saved 10k in 6 months doing Doordash putting away anywhere from $100 one week to $1k however life happen had to make adjustments made dumb decisions im back goals still the same going back to basics is also important that's what im going to do i also trying to buy a home but i want to come correct with something i try not to beat myself and continue striving i did it once i will do it again having a consistent schedule devoted especially to a side hustle works you get what you put in i have a few W2's and 7 1099's always on deck i like variety i keep at least 2 1099 on rotation each week
I had to come back and say thank you bc I never looked at my paycheck as two mini payments in one. I always looked at it as a whole. I realize that I could save an extra $400 that way. I appreciate your video and time that you took to make it 😊
That’s awesome! I found that breaking down the big numbers into smaller goals or savings make it more achievable whereas we didn’t really think we could. $400 is amazing!! I’m glad I could help! ☺️❤️
I plan on doing the same thing too. I just need to put $840 to the side for 12months
So I will have $10k by December 2023
I get paid weekly
That’s nice you’re able to take it all from your paychecks. Good luck and happy savings! 🥳✨
I am on disability so very grateful to come across your channel
I am happy that my videos are able to help you ❤️
I make 34,000 here in Florida as a medical assistant and rent is 1800 a month. This calculation definitely made me rethink living here
Nowadays everything is expensive. Thankfully i bought my home in 2017 which saves me a ton. I’m not sure I would be able to afford todays rent and mortgage prices😬
If you're new to the world of wealth-building, partnering with a financial advisor is an excellent way to begin your journey. I was able to accumulate substantial gains by working with an FA[financial advisor]. They assist in managing your overall investment risk profile, preventing permanent capital loss, and ensuring that your investments are broadly diversified, taking into account your personal risk tolerance, time horizon, and financial goals.
I agree that seeking the guidance of a Financial Advisor is crucial in finding the right balance between saving and living. However, it can be challenging to find a trustworthy and credible Financial Planner. What steps can one take to locate a verifiable Financial Planner?
@@patrickjones1392
That's a great question! Here are a few steps i took to find a trustworthy and credible Financial advisor:
1. Look for a Certified Financial advisor/expert -they are professionals who have gone through rigorous training and are held to strict ethical standards.
2. Check their credentials - You can verify a Financial Planner's credentials by checking with the Financial Industry Regulatory Authority (FINRA) or the Securities and Exchange Commission (SEC).
3. Check their experience - Look for a Financial Planner who has experience working with clients who have similar financial goals as yours.
4. Trust your instincts - Ultimately, you want to work with someone you feel comfortable with and trust.
By taking these steps, i was able to find a trustworthy and credible Financial expert/advisor who has helped me achieve my financial goals.
@@richarddamien4654
please whats this financial expert name so i could make my research and also benefit from their services
Thank you for posting. This was so insightful and motivating. I plan to get out of debt ASAP and resume saving. We can do it, sis!
I’m so happy you enjoyed this video! I hope you are able to use something similar to get you out of debt. Best of luck to you too in 2023! ☺️❤️
I love how you broke the goal down and choose to side hustle part of the savings instead of forcing it all to come out of your paycheck. I’m definitely using this method.
I’m also saving for a house down payment!
It just makes more sense to me that way. With my current income I would have nothing leftover for food, fun, or other things if I did it that way. I have to be realistic!
I’m glad you will use this method too. You got this! Happy Savings! ❤️
If you save $27.40/day you will have $10,000 in one year. I feel like this amount isn't as daunting and doable.
Hi Shawna! $27.40 is for sure a lot less scary to think about. I’m paid biweekly so that’s how my brain figured it makes sense for me. For those who can do a daily transfer for this small amount can still reach this goal! Thanks so much for sharing another perspective ❤️
Congrats on having over 2k subscribers!!
Thank you for being part of my growth as well. I appreciate your support to my channel ☺️
This was a great video. Great motivation for me to get my hustle game up. 10;000 is definitely attainable.
I’m glad you found this helpful and can use it as motivation to reach your money goals! Thanks for watching ☺️✨
Bravo! I thoroughly enjoy your content. My savings goal is 10K at least this year as well. Be encouraged that you are “in your lane” with your channel. Keep it up.
Thank you for this reminder! I hope you found this video helpful and can use this method to help you save your 10k this year as well. ❤️
You got this! 10k is a great goal. ✨
Thank you! It was once a goal that seemed so far off now I feel like it’s truly something I can reach! I’m excited ☺️✨
Right on time. And CONGRATULATIONS on the growth with the subscribers
Thank you so much! I’m grateful to help so many people get started or refocused on their budgeting/money journey. ❤️✨
Inspires me to save money where I can, though it probably won't be $10K, and I'm ok with that!
That’s great! We don’t want to set ourselves up for failure, so I’m happy you realize you can still do it even if it’s not $10k. Whatever your goal is you can use this strategy to achieve it! Best of luck ✨
Mercari and Poshmark is definitely a help I’ve been doing it for over three years now 😊thinking about starting back on eBay as well 😊 Me and my fiancé are setting this goal for this year and trying to set it higher if possible 😊 we are going for a simple outside wedding on my Family land where my Father and Mother was married as well 😊
I love how sentimental the wedding will be. ❤️ having big goals is only going to make you guys become more intentional. Wishing you guys the best!
I started my journey this year on low income!! 💖✨🙏
Yayyyy! Congratulations on getting started! When/If you get discouraged remember why you even started! ☺️❤️
New here!!!!!! Only seconds into the video but seen the title and I plan to save 10k this year too!!
Hey Brittney! Thanks so much for supporting! Saving $10k is a great plan! Have you decided how you’re going to accomplish it?
Great video. Just wanted to add another way of adding to your bucket 2 saving can be cash back from credit card reward points. Most credit cards offer cash back on purchases so if you use it regularly on everyday expenses rather than cash or debit you are earning rewards which you can redeem for cash. Just make sure to pay your bills off at the end of the month to avoid getting charged interest. Investing your money in a low risk safe investment will make your money work for you and grow your savings as well.
Does capital one have that? That’s the first credit card I’m using
I would love to be able to use my credit card as my debit card. I am still on the fence since I just got of debt and I want to make sure I have the discipline to keep it that way. 🤞🏾
Depending on your card @kimira, capital one does have a few cash back options. ☺️☺️
I saved the most money when I was a waitress, that $417 was easier when I made cash from tips. Now I work at a factory and I feel like I just got in more debt cause I got more money and went a little over bored. I'm so used to the spending habit that I have now it's hard. But I'm gradually slowing down on the spending. And after my kids and Bills are taken care of I put the rest of my money up. And I eat from home.
Yes having cash daily is a lot easier but a lot of people don’t have that luxury.. including me. Sounds like you experienced lifestyle creep and thankfully are transitioning away from that. Good for you!
New subscriber thank you so much for sharing !!
You’re welcome! Thank you for joining me! You’re just in time for Month 5 update coming next week. I hope you found this video helpful ❤️
I’m going to start this to pay off my student loans… thank you for this information❤
You're so welcome! I’m glad you’re going to be able to use this method for your student loans as well. I’m glad you found this helpful☺️❤️
Binge watching all of these videos in the playlist !!! So motivating ❤
Yay! Thank you!
This was pretty helpful and inspiring. Thank you for putting this together :)
You're so welcome! I’m glad it was helpful for you ❤️
Thank you is like a push.
You’re welcome! You can do it 💕
This video is fantastic!! 😊 saving is my goal this year !!
Wishing you the best on your savings journey!! You got this!
Thank you so much! I’ll be documenting my progress along the way❤️
Great plan!! I love this!
Thank you so much! I hope you found it helpful and can incorporate it in your savings or money plans as well. Thanks for watching ☺️✨
Thank you so much for the visuals! I am planning to save $4k -- I have a scar revision and Lasik surgery I am saving for. Looking at my finances, I can see where my money has been sucked into-- Amazon lmao So, I've decided to do a No Spend Challenge And I've been doing dog walking, I plan on making digital products, focus groups, and doggy daycare since I have a WFH job. I'm going to check out Adia, but I am super confident that I am going to reach my goal!
You already doing some great side hustles and at finding ways to generate extra income. I keep thinking of getting into digitals like creating an Etsy account.
I think Amazon is where a lot of people spend the most. 😂😂 I’m positive you will reach your goal. Good luck!
I just looked at my December bank statement. Eating out and spending on junk was over $400! I had no idea!
We never know until we take the time to look. Now that you do know you could be saving at least half or even 3/4 of that. 😬
@@ohshebudgets I'm going to!
Yes, you are right. Some people are buying coffee and takeaway multiple times a day and the cost begin to skyrocket which makes it difficult to budget.
I'm basically giving my landlord 10k a year for rent 🤦🏾♀️😫Which is why I'm trying to buy my house & make it for rental property. I have a amount deducted from all my pay. Which is my payroll, mileage & bonus. And I always pay myself first.
The housing market is a little crazy right now. Having an auto savings is a great way to save with intention. Good for you! ❤️
I can’t say you help me completely but you surely open my mind and make me thinking about my money!!!
Although this video did not help you completely I’m happy to know it was able to help you at least some bit. Thank you so much for watching! ✨
New subie!!! I love your content! I started a budgeting TH-cam like 2 years ago but never stuck with it but I hope you keep it up!!! Great video
Thanks for subbing! ❤️
Amazon flex is a great side hustle for us.
Every route you do is between 80-100.00
I am signed up with Amazon Flex as well. Getting back started is my only hesitation. 🥺
Congratulations Sis!!🎉 U have done awesome on your journey…I can’t wait to get back on board for the new year have been very inconsistent and just fell off tremendously, but I’m def ready for 2023
Thank you! Use 2023 as your year to reset! Set a plan and go for it! You got this!! ❤️
@@ohshebudgets Thank you and I most definitely will
I would love to just see one video on saving without extra income. Great video
I currently don’t make enough to comfortably take it all from my paycheck which would be approximately $417 biweekly. The breakdown in this video is how I’m making it work which is bringing in extra income. If you’re able to do it without extra income I say go for it. ☺️
I'm with you on this sis!
Let’s do it! What’s your savings goal for 2023?
New subbie! Love this method of saving! ❤️🥰
Thanks for joining me! I’m glad your found this video helpful ❤️❤️
Hi! This video showed up in my feed. I’m so glad I watched it. You provide a very good explanation and the visual breakdown is great for visual learners like me! Great job.
Awesome, thank you! I’m glad you found this video helpful. I’m a visual person myself so I’m glad I was able to help you ☺️💕
Definitely need to stay motivated and stay away from bad habits since I'm bi-weekly too and low income
It’s so tempting trust me I know. It doesn’t help that outside is so expensive, so I stay in as much as I can to resist some of the temptation. Small changes is what’s going to help. You got this! ❤️
@@ohshebudgets i guess being in an apartment helps staying in and not buying so much that I want.
The key is in the title... "plan to save" ... most people just think it will happen but you have to plan it AND do it...
I put $1000 per fortnight straight in, plus anything left over each time our next pay goes in each fortnight... sometimes it's $80, sometimes that's $580
We have $25,000 in our savings but spend it whenever we want as well... ;) we just bought ebikes not long ago.. and like a few nice things so do not scrimp too much. we have no debt except mortgage. No kids.
Better living everyone 😌
That’s something I’ve learned on my journey. Saying it is one thing, applying it is another. Once I’m debt free and have a nice saving I will feel like I’ve done it all. Thank you for the motivation ☺️
I’m late to this video but I’m gonna start this asap!!
This plan is really effective and made it more realistic for me to achieve my goal in 8 months. I hope you found it helpful! 💜✨
Iam doing the same thing just too see how it feel to have this much on hand 🤑
As someone who’s had it before I found more satisfaction at 20k truthfully. 10k is still a lot more than 0 though. ☺️
Awesome breakdown. Thank you
Thank for you for watching! I’m happy you found this helpful. ✨
I love the method you used to plan this out!
Thanks Sherry! It turned out to be a great plan and I’m looking forward to measuring my progress each month☺️❤️
Awesome plan, all the best with your plan for 2023🎉🎉🎉
Thank you so much for the well wishes in 2023! Keeping my fingers crossed for much success to come. 🤞🏾☺️
Currently on my journey to stability 🎉
You got this! ❤️✨
This is my plan also! i just calculated it the other day. I’m glad we are on the same page 😂🎉
Yess, I Love it!! I’m excited to get my first paycheck of this year to start putting money aside towards it. ☺️
Dont sleep on donating plasma! I paid off $10k of credit card debt by frequent donating for an average of $500+ a month (and not tax deductible!)
I’m afraid of needles 🥴
@@ohshebudgets Ah, that would be an issue lol. The needle is the size of a capri sun straw 🙃 I usually just dont look when it goes in and watch youtube or read the whole time
I wanna save that too💜 I also wanna open a TH-cam video eventually. ❤️ Amen to the breaking outta paycheck to paycheck cycle..I love the aesthetic of your video, including the writing with markers💓💕
Thank you! You can do it! 💜
I love this. I’m shooting for 5K. Are you still doing regular savings challenges too?
As of night now I’m going to use the savings challenges in my savings challenge book to help with this goal. So I’ll be cash stuffing those savings challenges in 2023 ☺️❤️
@@ohshebudgets I was hoping you would say that. That’s my plan too.
@@BrandiJanei Yayyyy!! I can’t wait to hear about your progress along the way 🥰🥰
Good job
Thanks for watching! I hope you found this helpful ☺️
Nice video! Very informative and inspiring. Early on you said just 2k subs, now you're setting at over 4k. WOW! Congratulations!
Thanks so much! This video has brought me so many new followers on my financial journey and I’m grateful for that!
Many thanks for being transparent and helping me! Best wishes.
My pleasure! I’m glad I’m able to help you with your goals as well. Best wishes to you on your journey ☺️✨
That's a great plan. Bringing in more money is something I need to do. Thanks for sharing!💜
You’re welcome! Break it up into small goals and it will add up. You got this! ❤️
Thanks your Motivated me now to try this too 💪🏼😊
Yes, let’s do it! I’ll be posting my updates each month. You got this ❤️
I think I’ll aim for 5k this year 💕 I think 100 per week will be doable for me. Thanks for the inspiration
Same.
This is a simple and great strategy! I get paid biweekly so it’s easier for my brain to break it down that way 😂 don’t forget to add it to your HYSA to make a little extra on your money ❤️
@@ohshebudgets yes!!!
Hi...I am a little confused...the breakdown of bucket one and two...when you devide the 417...where is the second 208 coming from? Its not clear where the second half comes from since we are not paid weekly...but biweekly. Thanks.
For bucket #1, I divided the $417 in half since I am paid biweekly so this means each paycheck I’ll put aside $209 to save towards this goal. $209 from paycheck #1 then $209 from paycheck #2. This will take care of half of what I would need to save for the month. I hope that makes sense.
Great video and tips. I am also on my journey to save 10k for my emergency fund…. We got this.
Nice! I used to think it wasn’t possible but now I see it is! What does your plan look like to save?
@@ohshebudgets I am doing small saving challenges and transferring it into my high yield savings account with capital one until it is completed. That’s my plan/strategy
.
@@simplybudgetingmyway2035 yes! I was debating on completing the challenge first then once complete put it in my HYSA with Capital One.
@@ohshebudgets it’s a good option. I have saved 3k of it so far. Definitely something to consider.
@@simplybudgetingmyway2035 I’m opening a new one for all my future goals too. Thanks for sharing ☺️
Also
Remember to put some money in a high yield savings account and keep depositing money in it so that way in
20 or 30 years later you should have like $150k to $400k in that account
That’s what I’m doing with my money for the long term.
I’m signing up with
American Express for the
high yield savings account
How that works???
High yield + investing into a Roth account is golden.
A HYSA account is a must! I have plans for this $10k and it will surely be gaining interest each month. ☺️☺️
Yes!! Love your breakdown and I know you'll succeed! Looking forward to following along. CONGRATS on 2k subscribers!
Thanks so much!! Can’t wait to see what 2023 has in store. It’s already at an exciting start! ☺️❤️
Thank for this amazing video. I love how you broke it down in small amounts to make saving $10K achievable. I am sharing this video with everyone.
You are so welcome! I’m glad you found it helpful. Small amounts seem much more attainable to me than seeing the big number. Thank you for sharing! I hope you can use this plan for any savings goals you have for this year as well ☺️❤️
I'm all about things that generate cash - FB marketplace, yard sales etc.
I love FB marketplace! I’ve had a lot of success on there. ☺️