Save Money Every Week | How to Save More on a Budget

I want to talk about how to save money every week. There are a lot of items that we purchase everyday, and it simply becomes a cost of living that we don’t even think about. But then, there are other items that only show up once in a while, and we just don’t have the money to cover the cost. If you are not planning for those, they will become hidden budget killers that will slowly drain your finances, and you won’t even know what happened. I want to talk to you about how you can save money every week, just by cutting back on things you don’t always need to pay for.
I also want to talk about how to save more on a budget, simply by planning ahead, and being honest with yourself. I remember sitting down for our first bankruptcy, and the lawyer asked how much we spend on clothing, and I said “Nothing”. He said “no really, I need to know, how much?” and I said, “No, nothing. We replace old socks and underwear, but we don’t buy new clothes every month.” We didn’t have a child back then, so it was kinda-party true.
NOTE: The information provided by John Ross is intended for educational use only. Please consult with a registered professional before acting on any information herein.
0:00 How to Save More on a Budget
2:10 How to Lower Your Daily Expenses
4:50 Save Money Every Week
7:20 Being a Freelancer
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Here is a seriously crazy thought to consider. If you take home $500/wk for your salary, then for every $1,000 you spend, you need to work for 2 extra weeks to pay for it. Keep this in mind as I start breaking down yearly costs, and you will quickly see why most american’s are financially hemorrhaging, and don’t even have an extra $1,000 for emergencies.
Assuming you still have a job you actually need to commute to, buying coffee on the way is easily $2.52/day, 5 days a week, which is $680/yr. And that’s just a medium at Dunkin’ Donuts. If you go to Starbucks, that easily gets doubled. If you want a bagel, you can add another $288/yr. You now need to work 80-160 extra hours, which is 2-4 weeks, just because you didn’t want to wake up 10 minutes earlier, and brew your own pot of coffee.
This is where things start to blur, even if you DO have a budget. If you go out on the weekends for dining or drinking, you can simply give yourself a limited amount per week that you can use for entertainment. The average cost of a single beer is around $5 (which is about a 400% markup, compared to buying a case at the liquor store instead). So if you have only 3 beers during your night out, that’s about $1,100/yr, which is 2 weeks of working to pay for it.
For us, we bowled on Saturday nights. The cost of that was $50/wk for the two of us. That was bad enough, but it was the drinking that absolutely killed us, especially as they raised the prices every year. In 2017, we would spend an average of $40-50 for the two of us, every week. Then in 2018 the prices reached $6 for each beer, and even more when my wife wanted imported beer or hard liquor. In 2019, I simply gave up, and started smuggling in my own drinks. I didn’t really want to do that, but now weekend drinking dropped down to being only $10-15.

[@NicolaiC]

Those hidden expenses, that you don't think about is often the ones holding you back!

[@FinanceonaBudget]

HedgeFunds manipulating the Stock market are what's currently holding me back right now. It's all wrong.

[@EmilyDowgialo]

Hahaha bras are expensive! I feel so seen 😂 great video!!

[@FinanceonaBudget]

I often think I am talking to myself, so thank your for commenting on this video. So yes,, undergarments are crazy expensive, and thank you for acknowledging that.
Men would never buy boxers at $50... unless maybe they have Baby Yoda on them. :)

[@MarkNealJr]

You speak well on camera! Interesting quote by Joe Biden!

[@FinanceonaBudget]

Thanks! I was honestly sure that quote was someone else, but I kept searching, and it kept saying Biden. I gave up, so now Biden it is.