How to Double Your Savings
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- Äas pĆidĂĄn 28. 06. 2022
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Chef Toni wants you to get 1.8% interest on your money: neo.cc/refer/U9R5E2J3. Also, new episode in the Cash College mini-series next week! Hope you're all well :)
Hey you can directly import the PDF file as a database in excel and you do not have to type it.
$30 of ingredients! That'll cost you ÂŁ8-10 in the UK ($9.40-11.70) Is this why americans will be 'yeah i make $22/h dressing windows or $35/h driving a truck??
This was so whoelsome
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April last year alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.
Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.
The best course of action if you lack market knowledge 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. I believe that is the most effective way to enter the business at the moment.
@@darnellcapriccioso Hi Mate, please how can i reach this CFA of yours?
@@maiadazz Laurel Dell Sroufe is an exceptional individual with a talent for diversifying her investments. You can easily confirm her identity by conducting an online search. She possesses extensive knowledge of the financial markets.
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a much simpler way is to divide your expenses between fixed and variable expenses. The variable expenses you review monthly and the fixed expenses you review quarterly and especially for example when your internet charges go up or contract ends etc.
The only thing a budget *really* needs is:
1) savings
2) fixed expenses
That's it. Take out the amount you want saved first- pay yourself first. And then non-negotiables: rent, insurance, debt payment, etc. After that, everything is up for grabs. It literally doesn't matter. As long as you get your savings/investment goal covered as well as fixed expenses, don't sweat the small stuff.
That only works if your financial situation is simple. Some people have financial responsibility for their parents or their children or want to give money away to charities when they pass. These type of expenses are neither savings or "fixed expenses" like insurance or housing since they are other people's needs, not your own. My mom might need $1k this month to help out on bills, but she might need $5k next month to help for a car.
@@1970rsc that doesn't change the original statement at all.
@@ilvaphoto of course it changes the original statement because you add variable expenses. So instead of taking the amount you want saved first, first you have to see which of your variable expenses are more important than savings - like if I have to help pay for my moms hospital. I take that out first, then take out what I need for fixed expenses, like rent, then what I have left is savings. So it changes in that when you have financial responsibility over others, those costs sometimes take precedent over your own needs.
@@1970rsc Couldn't you take the last couple years of your mom's expenses you had to cover, average it out, and increase your savings goals by that much?
@@1970rsc other unexpected expenses have nothing to do with your budget, thatâs what your savings is for, things outside of your fixed expenses and your personal needs. If you can afford to give your mom an unexpected 5k then that should originate from your savings or else you had 5k sitting there depreciating which is already an elementary financial mistake.
I believe in in vestments over savings all day any day and when it comes to in vestment, diversification is key. That is why I have my interests set on key sectors based on projected performance and growth. They range from the EV sector, renewable energy, Tech and Health.
It is possible to produce outstanding growth in portfolio diversification as long as you do something different than the vast majority.
In vesting in stocks is a great idea and a good trading technique or system put in place would put you through many days of success.
just amazing, monitoring my port folio performance which has grown exponentially to a million, now I understand why experienced experts make enormous returns from the ever unstable mar kets.
@@ramonfred Interesting đź, I have some $ just sitting in my bank account doing absolutely nothing, I wanna get something started with it. You seem to be doing excellent for yourself. How do you achieve this?
Exactly Fred, the trick is to diversify your in vestments, donât panic when everyone else is and in vest consistently.
As a financial advisor I strategise my budget by paying all my non negotiables first; such as rent, bills, travel money etc. I then have a leisure budget (socialising, drinks, etc) I keep this to a minimal, but not so strapped that I can't have fun. I then put 80% into various ETF's that give me long projected growth. I then invest the other 20% into the stock market, sometimes I don't invest all of it and then put the remaining into my ETF's. I never let money just sit around in my bank account, apart from a set amount for emergencies that I need to access quickly.
I'm brand new to budgeting and have been feeling really overwhelmed with figuring out where to start. This video has alleviated so much of that anxiety and helped me find my footing in order to build that solid foundation I need to get started. Thank you man, it's greatly appreciated!
the only person I know that can get away with a cooking video in a finance video đđđŒ
Coming back to this video to say the title is inaccurate. I've been using this since July 2022, and I actually tripled my savings đ I adapted my own version of this method and I'm not exaggerating when I say it changed my life. I evangelize it to others whenever I can. thank you very much mr stephen
I would love to do this but, I live in the Philippines. I work for an outsourcing company that has US clients and I get paid about $350-375 a month, only get paid to survive. It's pretty hard to do when you work for a salary that only lets you live day to day.
Dude 18k seryoso? Lipat na.
@@AllTheArtsy I wish I could find the same job. Kaya lang hindi pa ko nag reresign kasi sobrang light ng workload, maayos management, non voice, all data entry, and pure WFH.
@@AllTheArtsy My only concern here, sa California naka based yung client ng company namin. They have $15 minimum wage doon. They earn about $2400 a month, compare that to us outsourced na $375 max a month.
@@psrkives your description of your work is very basic and not rare. Srsly just apply anywhere else that offers WFH, that's so normal now post-CoVID
@@psrkives bruh if it's work from home, just...get another WFH job and do both
I absolutely loved your video, thank you so much for doing it! you were really helpful to me
Steve! This is brilliant. The importance piece made my jaw drop. So smart!
Another easy way to save money on eating out is AVOID UBER EATS. The price is insane vs using the restaurants' in-house delivery (depending on the place), or picking it up yourself. Each food item is almost always marked up, plus delivery fees, plus service fees, etc. I personally did some comparisons and a restaurant near Vaughan Mills (a 10 min round trip from my condo) was $20 more expensive via uber eats vs me driving. And pizza places? Absolutely a waste to use uber eats instead of their own delivery drivers.
Obviously cook your food yourself when you can to save the most money.
Or do some Uber eats delivery yourself and drop off someone's takeout while you pick up your own and make a little side cash.
this was a great breakdown. simple rule I've been trying to follow at the moment was essentially, stop spending money on shit that doesn't make you happy.
I really appreciate this video - this was huge help in seeing things from a more full picture. Thank you!
First video Iâve seen of yours and WOW. Super helpful and concise. Loved it!! And you have a nice voice especially Chef Toni đ
New subbie. Great video. Right up my alley. I'm a spreadsheet maven for sure! Can't wait to binge your content.
Love the content Steve! Very helpful!
Happy to hear đ
Is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
@@ervinmurray1253 That's heavy! keep it up, I could really use the expertise of these advisrs, my port-folio has been down bad....whoâs the person guiding you
Credits to 'Sandrine Nadege Logan' she has a web presence, so you can simply just search her.
Lmao, clueless
The best time to buy stocks is all the timeâŠ.time in the market beats timing the market
Tracking is a great way to eliminate bad habits. I've started weighing my food and, honestly, I'm not so strict about it but I've noticed there's an increased resistance (that doesn't feel bad at all) to eating food that only gives me calories and gives me barely any nutrition. I'd say the same philosophy applies to tracking your expenses. Simply tracking your expenses will likely improve your buying behavior without the conscious effort of "sacrificing" your lifestyle.
Be carefull with weighing food though! If you take it a step further every time that could result in a ED (not saying it will, just a warning). I would look at it more like adding stuff to add nutrition, and then taking away the less nutritious stuff only to the amount you feel like you could eat. The result is of course basically the same, but it might help against seeing calories as a negative thing :)
LOVED THIS !!!! Thank you so much đ
Really helpful video, making the sheet as we speakđđŒ
gr8 video totally loved it !!!! :D hope you keep doing more of this
Dude you are such a godsend. Honestly keep learning something new about budgeting but definitely getting to know more of how to navigate life, budget, while still allowing myself to "set and forget" a goal while still saving after watching this. You're an angel and have learned alot even in the couple mins of watching this. Huge spreadsheet gurl but this is next level
how did you make the top line into the categories/items?
New sub, great channel đ
Sent here by DTM and really enjoyed the videođ
The issue with shouldn't have category is you don't you realize you will regret it untill you bought it. Sometimes you can return and item or sell it. A good method that had helped me is to wait a 2 or 3 days before I buy something.
How did you get the slicer icon on the individual columns?
Love this! got the spreadsheet set up & ready to go! Gr8 tips!
This video is so informative! Thank you so much! Btw, which lens are you using? The framing looks so cinematic!
This is inspiring, I never thought people would thought it'd be easily adaptable especially with difference spendings etc. Thanks for sharing!
Hi, so what your advice on saving if you hace debts/credit cards to take care of
How do you simplify not doing double accounting when you use both credit and debit cards?
I loved this. Going to be introducing an Importance to my budget ASAP. Thank youuuu
Omg, super helpful video. Thank you!
Great vid⊠hope you feel healthier asap and keep creating â
Thanks Joshua đ€
2:15 what bank offers the ability to export your transactions to a spreadsheet?
I think I'm doing something wrong because my pivot table doesn't calculate my amounts. It counted them and the total was not what it was suppose to be. Am I missing something? I didn't have those lines in my category, does that do anything?
Thanks very much Chef Tony...!!!
Hi! Thank you for the super helpful tips. I have been trying to manage my expenses for some time now. The first thing I wanted to do was increase visibility. I tried some approaches in Excel, but this seems to be the best out of the ones I have tried.
this was helpful. Thank you
6:20 I laughed way too hard đ... did not see that coming
Quick question, the Neo card is it debit? or credit?
Great video! Thank you
Great video and advice !!
Good shit đ love your work mate
Great video, subscribed!
Loved this. Canât wait to do it!
wow You are so good at what you do. Thanks for this info!
Thank YOU!
What, iPhone essential? xd. Nice video BTW
This is great! Do you have an excel template available for download?
I was wondering why yt recommended this video. I now see, the recipe imbedded set off my recs. Cooking videos are practically the only thing I watch lol
Great video! Does someone knows how to do the excel?? I mean, all the structure and the category break down? Thank you guys
You are exactly the type of person the average joe like me needs to learn all this
thank you much this helped me out a lot!
Iâm so glad I found your channel
Thanks chef Toni!
This is a great video, from the great tips on saving to showing the cooking. Idk, very thoughtful and high quality video!
We are lucky to see a real life income and expenditure example. No need for criticism on how a person spends their hard earned cash. Everyone goes through different seasons. No one is perfect
I just realized that you have a cloud tattoo! Thatâs cool haha didnât know you were a gamer! Nice video btw, hope you get better!
Peep the one just below my elbow crease too đ
I enyoyed this video, thanks bro
Thank you for the recipe! đ
Amazing thanks you so much!!!
What importance do you classify you investments if you want to follow them here as well? I guess i would have to create another category for it, otherwise it would false the interpretation
How do I make the chart change when I am.adding new items? Or do you just have to make the chart at the end for it all to add up
Is it possible to make it add up live as you're adding things?
Thank you bro!
Just tried this method! Super helpful - thank you!
This is super awesome! What program are you using to show the screen while you are screen recording while having your "bubble" in the bottom right of your face video?
This is a fabulous video. Very well done
lol love the view of high park beginning
This is done really well - really simple and easy to follow. Canât wait to try it out for myself at the end of the montb
This is the first video I have ever watched of your but you automatically get a sub from me for that sick Cloud tattoo you have. FF7 is my favorite game ever.
I only have one question ...yes i agree excel is grt to use for this purpose but I can't open up Excel for loging in my experiences each day uk it's kinda tedious ....and i also have money in cash due to which i can't keep track of it from my bank account. So are there any apps to log my expences in somthing that's in my phone and easy to use and maybe at the end of the month i can work on that data on Excel
Hi, I'm italian, I was really appreciating the video and then you started cooking.
I was really initially surprised to see that you were putting basically the same ingredients that we use in italy as well, but at the end you said garlic, that's unacceptable!
Any way, keep up the good content :)
Thanksđčđ
You are God's send. I never thought about how missed up my spending until I tried your tool. God bless you more.
Thanks!
Very well explained
This is the first video of yours Iâve seen. I love you.
Nice video. Thanks for this. Making me feel guilty I've not done this sooner! Does it not make sense to take a few months rather than one month in isolation (at least if your bank lets you do a .xls extract of your spend)? Maybe that month just had a lot of restaurant spend in it, for example? Iron out some of those irregularities? Or not a big deal in your view?
P.S. If your bank doesn't let you do a spreadsheet extract of your spending, change banks! (most do)
I think the idea is to become a habit to analyze on monthly basis
I agree with you that when it's the first time you do that, I actually would analyze at least 6 months
You remind me of Guy from the Croods hehe. Thanks for the financial advice â€ïž
Thank you for this video !! I loved Chef Toni
Love your energy
This is a great vid. The really hard part is the analysis ... because there's a real emotional & piece to spending.
What would a car rate on the importance level?
Probably the best way I have found to analyze my expenses... Thank You... I will be sharing this.... I hope your on facebook... I'm old. lol
Wait a min i thought this was a financial video? Now its a cooking tutorial this is tight, i fw it
I fw u
Really enjoyed the video, and the process. I will try this with my students in the future. Have a nice one:))
Have you recommended Mint or another free budget tracking tool?
pardon if I missed out on something but doesn't your online banking app do that for you already ? my bank does that for me automatically. Like showing you what you spend and structure it into the categories ? or is it something super European ?
@Stephen Antonioni âą +đđđđđđđđđđđ :D what tips ? I am basically trying to say that whatever you just explained in your video my mobile bank app is already doing it automatically ( categorising and structuring expenses).
Love the chill vibe, and thanks for a helpful video! You earned a sub! Keep it up g! :D
Very down to earth video on finances. Great video bro.
Great info.
Treat your savings like a needed expense. Budget around your needed expenses such as rent like you already do, just add savings on top and budget slightly more. Doesn't mean you can't ever eat out or have fun with friends, but know your limits
Great video
Just subscribed, you've absolutely helped me a lot bro!
Great video! Do you also have a video about income like this one? That would be great
BAHAHAHAA the chef toni segment was too funny and I was not ready for that lol