Exactly! I used to be this idiot but I've changed... I just put it back when I tell myself the harsh truth, I don't need it lol sadly, a lot of my family members are still like this. Always chasing sales and it just accumulates it.
Exactly!!! I hear so much justified by, "It's on sale!" Its not a sale if you don't need it. I love the movie Confessions of a Shopsholic. Shes in full blown shopping addiction and trying to tell her boss that shopping should be "enjoyed" and he says my favorite line and my mantra, "Strike with precision and get out!!" Bookstores are my weakness but I have the library. No guilt for unplanned borrowings 😄
Being in debt robs you of so much. There is nothing so wonderful as a good night's sleep. Laying awake at 3am, wondering how on earth you are going to cope is a version of hell on earth.
@Carolyn Wood. I have been there. I know exactly what you mean. There is nothing better than getting a good night sleep because you know that your bills are going to be paid without sweating it.
Best habits I've been successful this year: Making food at home 90% of the time Bringing leftovers to work Giving myself at least 3 days to decide whether I really need it when it comes to buying something...and that's "need" , I don't even bother with "wants" because hell, I'd spend it all And most importantly, valuing my TIME
I paid my home off by selling the old one , moving to a much less expensive state, and paid cash for a brand new one with money left over. :) tfs 🍁🍁🍁🍁🍁
We used the same as cash to buy a very good quality sectional and paid it off before the final payment was due. Never buy a crap product on same as cash - always buy quality!
Woweewow. I took notes. This was really helpful. I think I’m gonna be saying to myself from now on: “Don’t let the older u down: she’s counting on u!” Something that helped me was reminding myself how much better it feels to have $ in the bank as compared to having stuff. Having savings feels way better than having stuff.
I love that you saved 20% on your first birth. I wish I had asked if my hospital had a cash discount but I didn't. I registered and gave them my insurance info and they sent me a letter in the mail saying how much I would have to pay when I checked in. So when I was in labor and went to the hospital I was signing in and she asked if we had the money. I said yes and when I handed over cash and the lady was shocked. She asked what we did for a living bc "young couples don't pay cash" lol. My husband worked at Walmart and I worked for a doctor's office as a medical assistant making $12/hr. We definitely were not well off by any means but we were on babystep 2 at the time and had been saving for it bc we knew it was coming.
My husband and I never budgeted our money, even when we only made $30k a year and he was in school at the time. And we lived in Boston! This is how we did it: the question was never “how much can I afford,” but rather “what is the minimum I need and how little can I spend for it?” With this guiding principle, we saved $10k in our first year of marriage, and every year has been an improvement (now 25 years out). If you start out living on next to nothing, every bit of comfort you add is appreciated and a joy; much better than starting out trying to maintain a lifestyle you can’t afford and feeling deprived when you have to subtract out comforts.
I have never had a new couch. I have several grocery stores near me so I always go to Aldi first to see what I can get there first then the next day I will go to Kroger for what Aldi didn't have.
Excellent tips! I'm at the hospital with my 95 year old mama she fell two weeks ago and has been moved to rehab but does not want to walk. Okay so I shop at a store here called Wynco it has everything and it's cheaper. I have made it a point even though I have a 2 %interest rate on my home( yep 2% I fought for that) I've been putting extra on my mortgage payment. I have my posh store up and running and I love it! I've made an extra 900.00 this month!!!!! Can you believe that? I have chosen to save it and doubled my baby step 1. Last thing is I started my posh with my own clothes that was in excellent condition but I knew I'd never wear again, took 60.00 out of what I made and purchased 40 bags of clothing, shoes, and men's clothing/ shoes from an estate sale. HOW? I left the kids a note in an envelope asking if they do not sell the clothes I would like to talk to them. THEY CALLED ME! Forty bags for 60.00, I hauled and they did not have to bring it to goodwill. I feel so blessed my darling. For now I spend my time with mama, I love her so much. One more thing I always pay cash and get things done on the house cheaper. So yes girlfriend ASK! XOXOOOOOOO 🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻
Lydia great video!! I can’t wait to pay off this last credit card to be debt free. I can’t wait to throw more money for our retirement & kids’ 529 plans. It’s amazing that our frugal ways is helping up save so much money!! Gotta love it!
I made a game of paying off my car in cash. The tellers became friends who were cheering me on to pay off my car on my birthday last year, which was 2.5 years early. On my birthday, it was PIF. Each week I made a payment and would say out loud, “It’s going to be paid off by my birthday, the best present ever.”
I found the PIF stub - I stand corrected. It was October, two months post birthday. My error and who cares, right? I came into my marriage 100% debt free and that is badass!
We're on Baby step 6, and I agree with everything you said! Saving is SO, SO important! After all, we can only rely on ourselves! When we paid off our cars, we continued putting the car note into savings, so we can buy with cash next time :) Also, Rooms to go is the WORST! lol
Interesting. We do a similar thing in having "appetizer" Sunday instead of dinner. I make restaurant copycat recipes for appetizers. Keeps life interesting and I can make it healthier.
Yesss... I def have a small category for snacks because we def just dont go out to eat... Only fast food we do is chickfilla once a week for my 3yr old after we come back from the park... And we buy the 12pc split them among my 2 toddlers and we havr a little piece here and there... 💕
Great video Lydia! I always ask for a discount & I despise paying full price for anything. Yip, interest is like throwing money away. Greetings from South Africa
I’m tracking my daily spending. That’s an eye opener for sure. Groceries are a challenge as the prices are rising so fast. I have been meal planning almost every week and shopping my pantry, cupboards, refrigerator and freezers first. Last week I didn’t meal plan and didn’t like how my week went. This week I’m cleaning my deep freezer in preparation for restocking prior to the onset of our 🇨🇦 winter.
My husband and I never budgeted our money, even when we only made $30k a year and he was in school at the time. And we lived in Boston! This is how we did it: the question was never “how much can I afford,” but rather “what is the minimum I need and how little can I spend for it?” With this guiding principle, we saved $10k in our first year of marriage, and every year has been an improvement (now 25 years out). If you start out loving on next to nothing, every bit of comfort you add is appreciated and a joy; much better than starting out trying to maintain a lifestyle you can’t afford and feeling deprived when you have to subtract out comforts.
Thanks. I did the small amounts split to many bills; over time the least owed got paid off, while the rest came down. It felt good to write paid in my notebook, paid on those pages. Now I need to find something to work from home. The "younger" me tried to look out for the me now, but things fell apart & things keep happening, but by the grace of God, I walk "through" by faith not by sight. The "breakthrough is coming"! 💕🌹👣💃Adding I learned credit didn't work. I have found that hanging clothes on lines gets me outside, gets me moving, I think of it as me time bonus bc I have those moments to pray, think, chat, watch a squirrel & just take a breath.The shopping trips were planned & stocking up was done on those longer trips, most times I had to drive to the town to work passing the stores on the way home. Before I moved to a location or town I planned shopping & what was close or far away. There were times when things got lean, but those were few & far between it was okay.
The time thing.. yes me too. I’ll buy the chopped whatever on the week when I’ve a big project due in because my future self needs this degree and my future self will be earning better money so it’s worth the extra couple of euro for chopped veggies. Also things don’t have to be perfect. Good enough is good enough ... we won’t get scurvy having frozen pizza once a week 😂💕
When I start to feel like I want a new couch ect I re organize and then it feels like a whole new area with new things :) also bulk cooking for my husbands lunch and dinners saves so much. And teaching our kids to be excited for second hand stuff over brand new :)
Thank you for your videos! I work 3pm-11pm. There are times I have to go in 4 hours early or stay 4 hours later (voluntary or could be manditoried). I have to meal/snack plan or I'm running to a drive thru. I color my own hair- it's dark, between the chin and shoulder, and I'm not ready to go gray yet. If I went to a salon, I'd be paying for full color and then going back in 4 weeks for the roots. It's crazy expensive! My stylist cuts my bangs for a decent price which helps me not pay for a full haircut often.
It was so expensive I was spending for cut, color, highlights and special shampoos and hair products it was hundreds of dollars. I quit and save more than $1209 year
This video made me think of a few things. So when I was a senior in high school I took a class called Consumer Ed. My high school was in a small town and a lot of people say they wish they had the class when I describe it. The class went over having a file box containing categories like banking, resumes, car repair and so forth. Along with detailing how credit ratings work. At one point the teacher had her personal financial advisor come in and go over what money markets, stocks and some other stuff. She also told us her and her husband lived off just his income for 10 years so they could save up to build their dream house. The other being my mother told me don't feel pressured by sales people they aren't the ones paying. On the couch front my husband and I had janky butt couches for a long long time. Right before everything got locked down I sat down and went well I can pay my student loans off this month or wait a few months and get a couch. We went to a local store and got a couch and loveseat for less then 1k. Oh and we got $100 knocked off due to paying cash. The student loans I held off because I wanted to use a few more months to up my credit rating. I know people will say who cares about the rating if you're not planning on debt. However, I do want to buy a house in a few years once we get my husbands debt cleaned up.
Lydia your delivery is so soothing, and everything you stated here is spot on! This information is so necessary and I love the fact that you're speaking from experience. Keep these gems coming, I transferred jobs twice this year and both of my jobs were walking distance from my house. No gas or wear and tear on my 19 year old car 😁👌🏁
Great video! It’s refreshing that someone so young as your son got the concept of debt and interest. There’s a background noise in the video. I can’t decide if it’s crickets or the ceiling fan. Lol
Hi Lydia! i just wanted to say thank you so much for all your advice. i’m 21 years old, with no debt but i live on my own and nobody is coming to save me, and i think your channel changed my life. I currently live paycheck to paycheck just because i was never taught how to manager money or finances and i’m trying to hard to figure it out! i make enough money at my job to live comfortably and save some, but i don’t think i would have realized that or identified the changes i need to make without your channel. i’m hoping by this time next year i can have a hefty emergency fund saved. thank you so much!
That first one made me chuckle. My co-worker legit says he doesn't think about his cell phone bill because he basically doesn't want to be reminded of how many phones are on a payment plan. I thought it was the most ridiculous thing. My favorite thing that I have learned on my debt free journey is that it is okay to not want things. My family thinks that I am super frugal and I may fit that description, but I don't really have a need for anything and I talk myself out of far more purchases than I've talked myself into. There is a freedom in realizing that people's opinion on what I spend has nothing to do with me. I buy what I want... I just don't want that many things.
Just wanted to give you an update. We are in baby step 4. There are a few BIG things (medical and also home) we have to save up for before doing anything further. We are in need of a new HVAC system. We replaced it 14yrs ago. It on its last leg. I told our ac company i wanted multiple estimates, warranty info and a cash discount! Which we are getting! and I have it in writing. We are halfway to our savings goal for the new HVAC. Then, we are saving for the medical to do. Only after that, we are going on a vacation we are cash flowing. p.s. we are still passively saving for Christmas gifts in our change jar too. any spare change goes right in the jar and will be getting cashed out for Christmas. Last year, we used it for vacation.
The most expensive food you buy is the food you throw out. So don't over buy, and use up your leftovers. I'm not say don't throw away something that was awful, or bad!
I love money mondays! Your videos have inspired me to get my financial act together. It feels like I'm late (I'm 24) but better late than never right? 😂
@lydia senn I’m 31, am I right on time too? Lol 😉 I was actually much better with my money at 24 but then made some bad decisions. Getting back on track now. You can do it Alexandra stay focused 👍
Simple wardrobe that I line dry all year long. Clothes last longer, smell great ( especially sheets and towels). I live in a clean rural area so air is nice and I love the feel of line dried clothes.... My SUV is almost 10 years old. Here's a tip: Take CARE of your car. Keep it clean in and out. Keep it, instead of all the rest of the clutter, in the garage out of the weather. Don't drive it like you stole it. Keep it maintained, and tires filled correctly. It REALLY does make a difference. My SUV still looks brand new and shiny and clean. If you car is clean in and out, you won't feel like buying a new car because yours is a pigsty. I save money out of my pension each month. I no longer buy ANYTHING that I can reuse or re-purpose at home, and MOST of my stuff can be used that way. No "Duplicates"....I'm single...don't need 500 towels or utensils!! i HAVE two china cabinets of inherited dishes, bowls etc...I can't live long enough to use all these plates etc. Yes they are "good" china but who cares if they break in use? The dishes are happier too....no one wants to be locked in a cabinet on a shelf and be unused......me included, but that's for another day!
Not ordering take out pizza doesn't mean you have to eat crappy pizza. There are a lot of frozen pizza options and even paying £5 for one is so much better than £15 for one pizza from the take out. I always have a pizza in my freezer for those days you need to treat yourself but not worry about spending massive amounts on one meal.
Online grocery shopping and picking it up for free. It has saved me Sooo much on my bill because I’m not tempted to to grab just because it’s in front of my face. Also, loved the quote you used to make my future self proud. Thank you for that!
I love my online grocery! It saves time, price comparison is easier, no impulse buying & you know your total BEFORE you check out (you can delete un"needed" items if you've overspent) Thank you for sharing & God bless ❤
Girl, we did the Rooms to Go couch regret. I was pregnant and planned on working Holidays overtime, well I didn’t expect I would be on bed rest. Rooms to go Never again
The best way to save money is to not spend it. If i feel the urge to spend money on something I dont need I'll use that money to pay it towards my debt or put it in savings. Ok like i dont need another cookbook. I just took a bunch to Goodwill. But there is this one, right! And it's reviews are all 5☆s. And I "think" I'll make everything in it to justify the cost and it has a really nice spiral binding that jacks up the price to $32! No! Stop it! Pay it towards debt now so now you can't spend it on anything else or put it in savings for a future home project.
Waiting for the things I want has taught me that I don’t always want what I thought I did. Waiting weeds out all the stupid things I would have bought. Waiting has also taught me that those things that have endured on my wait list are all the more awesome when I get them. Things that may sound odd like last Christmas when I cried when my Mom bought me a new DeWalt drill. I used my old drill until the batteries would not recharge and then I was doing everything by hand which didn’t always work out well
Your so right about how saving money is not always worth the time. It just depends on how much you would save for the time you gave up. Or even if you are really even saving any extra money. It always cracks me up when people drive around to find the cheapest gas price and end up using up more gas than what they would have saved anyways. There is just some things that if you figure it out, is not worth it. But yes, time is something that you can not get back.
SO smart that a child can understand the concept of debt and interest at such a young age. Wish that I had parents who instilled frugality in my young mind and taught me about financial fitness. I will surely be teaching my child about how to avoid debt, budget, and save money. Critical life skills!
Frogs? I hear them are they pets or a background soothing sound?? I love it and I love your videos!’ You are my OG aid frugal living and getting out of debt!! Thank you for your time!!🙏👍❤️
When I started to shop at low priced grocerie shops and ditched almost all of the expensive A-products (that weren't any better), that's when I started to save a lot of money on groceries every week. Who needs iced thee for 2 bucks, if you can get an excellent product for 1? And so on and so on. Do the math with me. Instead of paying 130 on groceries each week, it became 100. That's 30 a week! Times 50 a year (not counting holidays) is 1500 a year. Is 30,000 in two decades. And since some of that money has been invested in making our house more valuable to be able to sell it for above that value, it added more. (Say 10,000 invested and sold for 18,000 more because it looked so good.) And then extra payments for the mortgage always take off the last payments, over which you pay interest the longest time. Paying off 2000 extra might save you 5000, depending on the interest rate and how many years you still have to pay. So if you Only start buying less expensive groceries at less expensive stores, you've done yourself a Huge favor.
The game changer for me is thinking of money in terms of my life/my time. I think to myself, would I really want to spend x many hours/years of my time/life on this? It puts things into perspective. And of course, thinking of future me is a motivation as well, because future me has a lot of things in common with current me. Like the fact that current me and future me both don't want to be broke. :)
Not only is your time worth something if you work a paid job. I'm a SAHM of 5. I homeschool 3. I care part time for my 2 elderly parents and I study part of time. I sometimes feel guilty for using my dryer so much but even if I do have some down time I'm often so stressed or worn out that it's worth to pay a little extra on electricity so I can relax and not get sick.
I 100% agree on the cash discount. I work at an ophthalmology office and we give you a cash discount if you pay all at once the day of. If you aren't going to hit your deductible that year sometimes it is better to pay the cash price rather than your deductible through insurance. ASK! I slack on paying myself...and this video was a good reminder of that before I go and meet with my husband about our finances over lunch today. Oops ...
About mortgage. Do not forget that, down the road of time, the house will be more worth than what you paid for it. Do also consider that the money you borrow today on a 30 year mortgage - will not be worth the same in the future. And, the mortgage is built up in the way you pay off most of the interest the first years. It is not a smart move to take out a 30 year mortgage, and pay it off in 15 years. (Edit - this is European standard, don't know if it is different in the US) You pay way too much in interest (if you have a fixed rate interest), and you are not taking advantage of the inflation. In my country a 20-25 year mortgage is the average. A final thing is that the interest is deductible on the taxes in my country. I will not pay off my house early, I would rather increase my savings, the mortgage payment stays the same, even if my income rises. 😊
Before I buy anything non-essential I ask myself: how long will it be before this likely becomes “floor garbage”? Floor garbage is the name I’ve given to that clutter than has nowhere to go, so it ends up on the floor (usually kids toys, souvenirs, etc.). This concept can be extended to shelf or table garbage. If I don’t have a place for it, I don’t buy it. Why would I pay to step over more crap on the floor or shove aside on a table??
We earned 6k off of credit cards, but we use it as a credit card and that is how we both have scores over 800 for over 10 years now. Self control is key 🙂 Debt free for over 30 years and enjoying my early retirement
Got the friends and Family who have bought that rooms to go furniture. Before they were paid off they were ruined and not worth the last payment So sad!!!
Can you please talk more about how to save money on medical bills? What did u mean by paying cash for the birth of your baby? Do you mean in case one doesn’t have health insurance? Thanks for clarifying it!
Oh shoot forgot something. For people wanting to buy a car in cash from a dealership please please do yourself a favor and check out Kevin Hunter's video. He gives great tips to insure you get the best price and tactics to use.
I can not buy clothes, shoes, cometics, etc. I absolutely cannot stop going out to eat! This is my downfall. I get so tired of cooking. It is expenive and I know that but have not been able to stop. I think it is almost an obsession.
I was the same way. I would spend $200 on groceries, then buy take out all week and go to sit down restaurants on the weekends. I would waste so much food. It was sad. But one day I decided to add up all the take out we ate in one month. I was shocked. Over $1,200 JUST on take out! While being in debt. It’s hard, yes but at some point we have to grow up. We have to make changes while we can cause we’ll be old one day and won’t be able to. Get some fear in you. Trust me, if I can do it, anyone can!
Spending more on groceries in order to have the right kinds of foods and enough of them for my family to avoid eating out. Which is better: quick meal at home already purchased or going out to eat? (For my family of 5 it's never going out to eat!)
Oh. You’re talking about investing! Saving and investing aren’t necessarily the same thing. If you’re going to invest for retirement look into something like a Roth IRA. You can each contribute $6000 a year post tax.
How does a cash discount work for having a baby at a hospital? Would that still work if you pay part of the bill with an HSA card and part of it with a debit card right away? Curious how you went about that and what the discount was? I’m having my second baby in (hopefully less than) 10 weeks so I am very curious. We have insurance but I’m positive it’s not going to cover everything. We had insurance through the state with our first baby so everything was covered but that won’t be the case with this one. Thanks!
There is a lower rate that hospitals charge for people who don't have insurance. If your insurance isn't great you can ask for the self pay rate and often it will be lower.
@@TheRealLydiaSenn I guess what I mean is, I'm glad only a percentage comes out of my payslip, and that's me sorted, I don't have to make sure I have said money in my bank should I become pregnant/injured/sick
Plus, if I were to say lose my job, and not be paying taxes, I'd still be able to rock up to my local gp/hospital and get treated without running into debt
My mantra ; There’s no such thing as a bargain if you didn’t want it in the first place.
Suzi Nelson this 👌
Exactly! I used to be this idiot but I've changed... I just put it back when I tell myself the harsh truth, I don't need it lol sadly, a lot of my family members are still like this. Always chasing sales and it just accumulates it.
Exactly!!! I hear so much justified by, "It's on sale!" Its not a sale if you don't need it. I love the movie Confessions of a Shopsholic. Shes in full blown shopping addiction and trying to tell her boss that shopping should be "enjoyed" and he says my favorite line and my mantra, "Strike with precision and get out!!" Bookstores are my weakness but I have the library. No guilt for unplanned borrowings 😄
Suzi Nelson indeed!!!!!
Suzi Nelson I was told growing up it’s only a bargain if you NEED it
Being in debt robs you of so much. There is nothing so wonderful as a good night's sleep. Laying awake at 3am, wondering how on earth you are going to cope is a version of hell on earth.
Bless you. 💕
You are so right. I have ALWAYS slept Well due to the good financial advice i received from my mother when I was growing up. Thanks mum.
@Carolyn Wood. I have been there. I know exactly what you mean. There is nothing better than getting a good night sleep because you know that your bills are going to be paid without sweating it.
Best habits I've been successful this year:
Making food at home 90% of the time
Bringing leftovers to work
Giving myself at least 3 days to decide whether I really need it when it comes to buying something...and that's "need" , I don't even bother with "wants" because hell, I'd spend it all
And most importantly, valuing my TIME
You’ve got to value your time. So true.
I paid my home off by selling the old one , moving to a much less expensive state, and paid cash for a brand new one with money left over. :) tfs 🍁🍁🍁🍁🍁
We used the same as cash to buy a very good quality sectional and paid it off before the final payment was due. Never buy a crap product on same as cash - always buy quality!
Woweewow. I took notes. This was really helpful. I think I’m gonna be saying to myself from now on: “Don’t let the older u down: she’s counting on u!”
Something that helped me was reminding myself how much better it feels to have $ in the bank as compared to having stuff. Having savings feels way better than having stuff.
I love that you saved 20% on your first birth. I wish I had asked if my hospital had a cash discount but I didn't. I registered and gave them my insurance info and they sent me a letter in the mail saying how much I would have to pay when I checked in. So when I was in labor and went to the hospital I was signing in and she asked if we had the money. I said yes and when I handed over cash and the lady was shocked. She asked what we did for a living bc "young couples don't pay cash" lol. My husband worked at Walmart and I worked for a doctor's office as a medical assistant making $12/hr. We definitely were not well off by any means but we were on babystep 2 at the time and had been saving for it bc we knew it was coming.
My husband and I never budgeted our money, even when we only made $30k a year and he was in school at the time. And we lived in Boston! This is how we did it: the question was never “how much can I afford,” but rather “what is the minimum I need and how little can I spend for it?” With this guiding principle, we saved $10k in our first year of marriage, and every year has been an improvement (now 25 years out). If you start out living on next to nothing, every bit of comfort you add is appreciated and a joy; much better than starting out trying to maintain a lifestyle you can’t afford and feeling deprived when you have to subtract out comforts.
I have never had a new couch. I have several grocery stores near me so I always go to Aldi first to see what I can get there first then the next day I will go to Kroger for what Aldi didn't have.
Excellent tips! I'm at the hospital with my 95 year old mama she fell two weeks ago and has been moved to rehab but does not want to walk. Okay so I shop at a store here called Wynco it has everything and it's cheaper. I have made it a point even though I have a 2 %interest rate on my home( yep 2% I fought for that) I've been putting extra on my mortgage payment. I have my posh store up and running and I love it! I've made an extra 900.00 this month!!!!! Can you believe that? I have chosen to save it and doubled my baby step 1. Last thing is I started my posh with my own clothes that was in excellent condition but I knew I'd never wear again, took 60.00 out of what I made and purchased 40 bags of clothing, shoes, and men's clothing/ shoes from an estate sale. HOW? I left the kids a note in an envelope asking if they do not sell the clothes I would like to talk to them. THEY CALLED ME! Forty bags for 60.00, I hauled and they did not have to bring it to goodwill. I feel so blessed my darling. For now I spend my time with mama, I love her so much. One more thing I always pay cash and get things done on the house cheaper. So yes girlfriend ASK! XOXOOOOOOO 🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻🙅🏻
Lydia great video!! I can’t wait to pay off this last credit card to be debt free. I can’t wait to throw more money for our retirement & kids’ 529 plans. It’s amazing that our frugal ways is helping up save so much money!! Gotta love it!
Stumbling upon your videos almost a year ago made a big impact on my life. Thank you Lydia!!!!
Oh my goodness. Thank you.
Living frugally is so important!
I made a game of paying off my car in cash. The tellers became friends who were cheering me on to pay off my car on my birthday last year, which was 2.5 years early. On my birthday, it was PIF. Each week I made a payment and would say out loud, “It’s going to be paid off by my birthday, the best present ever.”
I found the PIF stub - I stand corrected. It was October, two months post birthday. My error and who cares, right? I came into my marriage 100% debt free and that is badass!
We're on Baby step 6, and I agree with everything you said! Saving is SO, SO important! After all, we can only rely on ourselves! When we paid off our cars, we continued putting the car note into savings, so we can buy with cash next time :) Also, Rooms to go is the WORST! lol
I want to do that then, but I wasn't the only one making decisions.
I spend an extra $20 on snacks when we go grocery shopping and it has prevented us from going out to eat I have saved so much money
Interesting. We do a similar thing in having "appetizer" Sunday instead of dinner. I make restaurant copycat recipes for appetizers. Keeps life interesting and I can make it healthier.
Yesss... I def have a small category for snacks because we def just dont go out to eat... Only fast food we do is chickfilla once a week for my 3yr old after we come back from the park... And we buy the 12pc split them among my 2 toddlers and we havr a little piece here and there... 💕
You seem like such a kind, genuine person. I wish you all the success!
Great video Lydia! I always ask for a discount & I despise paying full price for anything. Yip, interest is like throwing money away.
Greetings from South Africa
I’m tracking my daily spending. That’s an eye opener for sure. Groceries are a challenge as the prices are rising so fast. I have been meal planning almost every week and shopping my pantry, cupboards, refrigerator and freezers first. Last week I didn’t meal plan and didn’t like how my week went. This week I’m cleaning my deep freezer in preparation for restocking prior to the onset of our 🇨🇦 winter.
CA winter. Do you have solar incase power goes out?
I’d have to chop down so many white oak trees to install solar. I’m planning to purchase a generator.
@@bonitajordan6825 Planning is good. The white oaks will be without leaves soon letting sunlight in.
That might be worth looking into.
@@bonitajordan6825 I hope it works for you.
I save my change. Once a year I put it in the bank.
I use mine for gifts at Christmas and Winter fuel bills. Anything left over goes directly into the hands of the homeless.
I'm huuuuuge on saving change! I use to wait til the end of the year but now I cash it in almost monthly and use it towards my debt 😊
Me too!
My husband and I never budgeted our money, even when we only made $30k a year and he was in school at the time. And we lived in Boston! This is how we did it: the question was never “how much can I afford,” but rather “what is the minimum I need and how little can I spend for it?” With this guiding principle, we saved $10k in our first year of marriage, and every year has been an improvement (now 25 years out). If you start out loving on next to nothing, every bit of comfort you add is appreciated and a joy; much better than starting out trying to maintain a lifestyle you can’t afford and feeling deprived when you have to subtract out comforts.
Thanks. I did the small amounts split to many bills; over time the least owed got paid off, while the rest came down. It felt good to write paid in my notebook, paid on those pages. Now I need to find something to work from home. The "younger" me tried to look out for the me now, but things fell apart & things keep happening, but by the grace of God, I walk "through" by faith not by sight. The "breakthrough is coming"! 💕🌹👣💃Adding I learned credit didn't work. I have found that hanging clothes on lines gets me outside, gets me moving, I think of it as me time bonus bc I have those moments to pray, think, chat, watch a squirrel & just take a breath.The shopping trips were planned & stocking up was done on those longer trips, most times I had to drive to the town to work passing the stores on the way home. Before I moved to a location or town I planned shopping & what was close or far away. There were times when things got lean, but those were few & far between it was okay.
The time thing.. yes me too. I’ll buy the chopped whatever on the week when I’ve a big project due in because my future self needs this degree and my future self will be earning better money so it’s worth the extra couple of euro for chopped veggies. Also things don’t have to be perfect. Good enough is good enough ... we won’t get scurvy having frozen pizza once a week 😂💕
Yes always ask for a discount. We saved about $500 on new windows!
When I start to feel like I want a new couch ect I re organize and then it feels like a whole new area with new things :) also bulk cooking for my husbands lunch and dinners saves so much. And teaching our kids to be excited for second hand stuff over brand new :)
Thank you for your videos! I work 3pm-11pm. There are times I have to go in 4 hours early or stay 4 hours later (voluntary or could be manditoried). I have to meal/snack plan or I'm running to a drive thru. I color my own hair- it's dark, between the chin and shoulder, and I'm not ready to go gray yet. If I went to a salon, I'd be paying for full color and then going back in 4 weeks for the roots. It's crazy expensive! My stylist cuts my bangs for a decent price which helps me not pay for a full haircut often.
I color my own hair too!
It was so expensive I was spending for cut, color, highlights and special shampoos and hair products it was hundreds of dollars. I quit and save more than $1209 year
Wisdom!! Love what you said about paying our future selves. I need to put that on my fridge! :)
This video made me think of a few things. So when I was a senior in high school I took a class called Consumer Ed. My high school was in a small town and a lot of people say they wish they had the class when I describe it. The class went over having a file box containing categories like banking, resumes, car repair and so forth. Along with detailing how credit ratings work. At one point the teacher had her personal financial advisor come in and go over what money markets, stocks and some other stuff. She also told us her and her husband lived off just his income for 10 years so they could save up to build their dream house.
The other being my mother told me don't feel pressured by sales people they aren't the ones paying. On the couch front my husband and I had janky butt couches for a long long time. Right before everything got locked down I sat down and went well I can pay my student loans off this month or wait a few months and get a couch. We went to a local store and got a couch and loveseat for less then 1k. Oh and we got $100 knocked off due to paying cash. The student loans I held off because I wanted to use a few more months to up my credit rating. I know people will say who cares about the rating if you're not planning on debt. However, I do want to buy a house in a few years once we get my husbands debt cleaned up.
Love love ❤️ your videos 😍 Thanks for your time and effort making them xxd
Lydia your delivery is so soothing, and everything you stated here is spot on! This information is so necessary and I love the fact that you're speaking from experience. Keep these gems coming, I transferred jobs twice this year and both of my jobs were walking distance from my house. No gas or wear and tear on my 19 year old car 😁👌🏁
Great video! It’s refreshing that someone so young as your son got the concept of debt and interest.
There’s a background noise in the video. I can’t decide if it’s crickets or the ceiling fan. Lol
It’s my baby’s noise machine. 🤦🏼♀️
I’m behind the times with these new fangled baby devices! 😂
Hi Lydia! i just wanted to say thank you so much for all your advice. i’m 21 years old, with no debt but i live on my own and nobody is coming to save me, and i think your channel changed my life. I currently live paycheck to paycheck just because i was never taught how to manager money or finances and i’m trying to hard to figure it out! i make enough money at my job to live comfortably and save some, but i don’t think i would have realized that or identified the changes i need to make without your channel. i’m hoping by this time next year i can have a hefty emergency fund saved. thank you so much!
You are amazing. You are doing amazing things. You've got this!
thank you so much, it means a lot coming from you! 💫
Hi Lydia. 👍 Send her the money now 🤑 Time is a good one. 💜 TFS.
Amen!
I'll be getting my entry doors redone soon... I'll keep that cash discount question in mind. thanks girl
Yay!!!
That first one made me chuckle. My co-worker legit says he doesn't think about his cell phone bill because he basically doesn't want to be reminded of how many phones are on a payment plan. I thought it was the most ridiculous thing. My favorite thing that I have learned on my debt free journey is that it is okay to not want things. My family thinks that I am super frugal and I may fit that description, but I don't really have a need for anything and I talk myself out of far more purchases than I've talked myself into. There is a freedom in realizing that people's opinion on what I spend has nothing to do with me. I buy what I want... I just don't want that many things.
Just wanted to give you an update. We are in baby step 4. There are a few BIG things (medical and also home) we have to save up for before doing anything further.
We are in need of a new HVAC system. We replaced it 14yrs ago. It on its last leg. I told our ac company i wanted multiple estimates, warranty info and a cash discount! Which we are getting! and I have it in writing. We are halfway to our savings goal for the new HVAC. Then, we are saving for the medical to do.
Only after that, we are going on a vacation we are cash flowing.
p.s. we are still passively saving for Christmas gifts in our change jar too. any spare change goes right in the jar and will be getting cashed out for Christmas. Last year, we used it for vacation.
You're amazing!
Thank you so much for keeping it real! I love your videos, they are inspiring!
The most expensive food you buy is the food you throw out. So don't over buy, and use up your leftovers. I'm not say don't throw away something that was awful, or bad!
Yes! Using up all of what you have across the board, not just food, save so much money!
I love money mondays! Your videos have inspired me to get my financial act together. It feels like I'm late (I'm 24) but better late than never right? 😂
You're not late. You're right on time.
@lydia senn I’m 31, am I right on time too? Lol 😉 I was actually much better with my money at 24 but then made some bad decisions. Getting back on track now. You can do it Alexandra stay focused 👍
Great tips! Thanks Lydia!
Simple wardrobe that I line dry all year long. Clothes last longer, smell great ( especially sheets and towels). I live in a clean rural area so air is nice and I love the feel of line dried clothes....
My SUV is almost 10 years old. Here's a tip: Take CARE of your car. Keep it clean in and out. Keep it, instead of all the rest of the clutter, in the garage out of the weather. Don't drive it like you stole it. Keep it maintained, and tires filled correctly. It REALLY does make a difference. My SUV still looks brand new and shiny and clean. If you car is clean in and out, you won't feel like buying a new car because yours is a pigsty.
I save money out of my pension each month. I no longer buy ANYTHING that I can reuse or re-purpose at home, and MOST of my stuff can be used that way. No "Duplicates"....I'm single...don't need 500 towels or utensils!! i HAVE two china cabinets of inherited dishes, bowls etc...I can't live long enough to use all these plates etc. Yes they are "good" china but who cares if they break in use? The dishes are happier too....no one wants to be locked in a cabinet on a shelf and be unused......me included, but that's for another day!
"might look like garbage when you're finished" is everything I ever made!
greetings from germany. i enjoy watching your videos so much.
Not ordering take out pizza doesn't mean you have to eat crappy pizza. There are a lot of frozen pizza options and even paying £5 for one is so much better than £15 for one pizza from the take out. I always have a pizza in my freezer for those days you need to treat yourself but not worry about spending massive amounts on one meal.
Online grocery shopping and picking it up for free. It has saved me Sooo much on my bill because I’m not tempted to to grab just because it’s in front of my face.
Also, loved the quote you used to make my future self proud. Thank you for that!
Yes. I love online grocery pick up saves so much!!
I love my online grocery! It saves time, price comparison is easier, no impulse buying & you know your total BEFORE you check out (you can delete un"needed" items if you've overspent) Thank you for sharing & God bless ❤
Girl, we did the Rooms to Go couch regret. I was pregnant and planned on working Holidays overtime, well I didn’t expect I would be on bed rest. Rooms to go Never again
Great video! Totally agree that time is valuable..
Yes. Pay off debt. The borrower becomes the lender's slave!! Good video!
The best way to save money is to not spend it. If i feel the urge to spend money on something I dont need I'll use that money to pay it towards my debt or put it in savings. Ok like i dont need another cookbook. I just took a bunch to Goodwill. But there is this one, right! And it's reviews are all 5☆s. And I "think" I'll make everything in it to justify the cost and it has a really nice spiral binding that jacks up the price to $32! No! Stop it! Pay it towards debt now so now you can't spend it on anything else or put it in savings for a future home project.
Thanks for these great tips! This information that you are is spot on. Keep up the good work!
Good one!! Bless you, honey.
Waiting for the things I want has taught me that I don’t always want what I thought I did. Waiting weeds out all the stupid things I would have bought. Waiting has also taught me that those things that have endured on my wait list are all the more awesome when I get them. Things that may sound odd like last Christmas when I cried when my Mom bought me a new DeWalt drill. I used my old drill until the batteries would not recharge and then I was doing everything by hand which didn’t always work out well
Oh and waiting has also allowed blessings to come my way... so many times I have gotten a better deal or even items for free
Your so right about how saving money is not always worth the time. It just depends on how much you would save for the time you gave up. Or even if you are really even saving any extra money. It always cracks me up when people drive around to find the cheapest gas price and end up using up more gas than what they would have saved anyways. There is just some things that if you figure it out, is not worth it. But yes, time is something that you can not get back.
SO smart that a child can understand the concept of debt and interest at such a young age. Wish that I had parents who instilled frugality in my young mind and taught me about financial fitness. I will surely be teaching my child about how to avoid debt, budget, and save money. Critical life skills!
Frogs? I hear them are they pets or a background soothing sound?? I love it and I love your videos!’ You are my OG aid frugal living and getting out of debt!! Thank you for your time!!🙏👍❤️
It's a soothing sound for Libby.
I love the app Gas Buddy! You can find the cheapest gas price before leaving the house! 👍🏻
When I started to shop at low priced grocerie shops and ditched almost all of the expensive A-products (that weren't any better), that's when I started to save a lot of money on groceries every week. Who needs iced thee for 2 bucks, if you can get an excellent product for 1? And so on and so on. Do the math with me. Instead of paying 130 on groceries each week, it became 100. That's 30 a week! Times 50 a year (not counting holidays) is 1500 a year. Is 30,000 in two decades. And since some of that money has been invested in making our house more valuable to be able to sell it for above that value, it added more. (Say 10,000 invested and sold for 18,000 more because it looked so good.) And then extra payments for the mortgage always take off the last payments, over which you pay interest the longest time. Paying off 2000 extra might save you 5000, depending on the interest rate and how many years you still have to pay.
So if you Only start buying less expensive groceries at less expensive stores, you've done yourself a Huge favor.
A big ticket item needed fixing on my vehicle on my birthday. I asked if there were any birthday discounts. They gave me $20 off my bill!
The game changer for me is thinking of money in terms of my life/my time. I think to myself, would I really want to spend x many hours/years of my time/life on this? It puts things into perspective. And of course, thinking of future me is a motivation as well, because future me has a lot of things in common with current me. Like the fact that current me and future me both don't want to be broke. :)
Not only is your time worth something if you work a paid job. I'm a SAHM of 5. I homeschool 3. I care part time for my 2 elderly parents and I study part of time. I sometimes feel guilty for using my dryer so much but even if I do have some down time I'm often so stressed or worn out that it's worth to pay a little extra on electricity so I can relax and not get sick.
I learned how to use leftovers to make amazing new meals. My son actually said look at us we don't have much money but we eat like kings.
I 100% agree on the cash discount. I work at an ophthalmology office and we give you a cash discount if you pay all at once the day of. If you aren't going to hit your deductible that year sometimes it is better to pay the cash price rather than your deductible through insurance. ASK!
I slack on paying myself...and this video was a good reminder of that before I go and meet with my husband about our finances over lunch today. Oops ...
I saved sooooo much money on my wedding by asking for a cash discount!
Cuz you're smart!
Oh wow, this really resonated with me. Thank you for this video!
About mortgage. Do not forget that, down the road of time, the house will be more worth than what you paid for it. Do also consider that the money you borrow today on a 30 year mortgage - will not be worth the same in the future. And, the mortgage is built up in the way you pay off most of the interest the first years. It is not a smart move to take out a 30 year mortgage, and pay it off in 15 years. (Edit - this is European standard, don't know if it is different in the US) You pay way too much in interest (if you have a fixed rate interest), and you are not taking advantage of the inflation. In my country a 20-25 year mortgage is the average. A final thing is that the interest is deductible on the taxes in my country. I will not pay off my house early, I would rather increase my savings, the mortgage payment stays the same, even if my income rises. 😊
I don’t think your math adds up. My additional payments are applied directly to the loan’s principle not to interest. It’s amortization.
I do , drive around to multiple stores but less than 5 minutes away
Thank you
I love your vids.🥰
Love your vlogs
Before I buy anything non-essential I ask myself: how long will it be before this likely becomes “floor garbage”? Floor garbage is the name I’ve given to that clutter than has nowhere to go, so it ends up on the floor (usually kids toys, souvenirs, etc.). This concept can be extended to shelf or table garbage. If I don’t have a place for it, I don’t buy it. Why would I pay to step over more crap on the floor or shove aside on a table??
We earned 6k off of credit cards, but we use it as a credit card and that is how we both have scores over 800 for over 10 years now. Self control is key 🙂 Debt free for over 30 years and enjoying my early retirement
Got the friends and Family who have bought that rooms to go furniture.
Before they were paid off they were ruined and not worth the last payment
So sad!!!
Can you please talk more about how to save money on medical bills? What did u mean by paying cash for the birth of your baby? Do you mean in case one doesn’t have health insurance? Thanks for clarifying it!
I have a Credit card with 0% interest,, it will be paid off in March 2020. Once that is done, I am putting the extra money away!
Great video! 😊
You're great. Wish my kids would listen.
Lead by example.
I am so bad at paying myself first.
Oh shoot forgot something. For people wanting to buy a car in cash from a dealership please please do yourself a favor and check out Kevin Hunter's video. He gives great tips to insure you get the best price and tactics to use.
Asked for a cash discount on an appliance at best buy. Needless to say, I haven't and won't buy appliances from them =)
Great video Lydia but how many frogs are in your living room?? Ribbit ribbit😂😂
Lol. It’s Libby’s sound machine. I didn’t realize how loud it is. 🤦🏼♀️
you should do a "how much I make from youtube' video!!!
I can not buy clothes, shoes, cometics, etc. I absolutely cannot stop going out to eat! This is my downfall. I get so tired of cooking. It is expenive and I know that but have not been able to stop. I think it is almost an obsession.
I was the same way. I would spend $200 on groceries, then buy take out all week and go to sit down restaurants on the weekends. I would waste so much food. It was sad. But one day I decided to add up all the take out we ate in one month. I was shocked. Over $1,200 JUST on take out! While being in debt. It’s hard, yes but at some point we have to grow up. We have to make changes while we can cause we’ll be old one day and won’t be able to. Get some fear in you. Trust me, if I can do it, anyone can!
@@andyman1796 I need to put my big girl pants on! I am old, 70 years, and a fixed income. Need to get control.
Great video.
Thank you
Spending more on groceries in order to have the right kinds of foods and enough of them for my family to avoid eating out. Which is better: quick meal at home already purchased or going out to eat? (For my family of 5 it's never going out to eat!)
Yes!! 100% agree.
What is your opinion of where to put your savings so it helps you long term.
High yield interest account like Ally or Capital 360
@@TheRealLydiaSenn thanks! My husbands job does not have 401k or anything so I feel like we are not being smart about how to save.
Oh. You’re talking about investing! Saving and investing aren’t necessarily the same thing. If you’re going to invest for retirement look into something like a Roth IRA. You can each contribute $6000 a year post tax.
My company has a 401k but no match so I don't invest in that. I do a Roth IRA. It grows tax free.
I always ask for a cash discount.
How does a cash discount work for having a baby at a hospital? Would that still work if you pay part of the bill with an HSA card and part of it with a debit card right away? Curious how you went about that and what the discount was? I’m having my second baby in (hopefully less than) 10 weeks so I am very curious. We have insurance but I’m positive it’s not going to cover everything. We had insurance through the state with our first baby so everything was covered but that won’t be the case with this one. Thanks!
There is a lower rate that hospitals charge for people who don't have insurance. If your insurance isn't great you can ask for the self pay rate and often it will be lower.
I still find it crazy that Americans have to pay to give birth an a hospital 😅
Nothing is free. You're paying too just in a different way.
@@TheRealLydiaSenn I guess what I mean is, I'm glad only a percentage comes out of my payslip, and that's me sorted, I don't have to make sure I have said money in my bank should I become pregnant/injured/sick
Plus, if I were to say lose my job, and not be paying taxes, I'd still be able to rock up to my local gp/hospital and get treated without running into debt
I live in Israel and we have universal healthcare so we get healthcare for really reasonable prices .
Frogs? 🤣