Do This EVERY Time You Get Paid (Millionaire Payday Routine)

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  • čas přidán 9. 06. 2024
  • Stop living paycheck to paycheck! In this video, I reveal what you should do every single payday to help you break free from financial stress and build lasting wealth.
    TIMESTAMPS
    00:00:41 - 1st Place
    00:02:59 - 2nd Place
    00:04:42 - 3rd Place
    00:06:23 - 4th Place
    00:10:21 - 5th Place
    00:12:00 - 6th Place
    00:12:42 - 7th Place
    00:14:24 - 8th Place
    __________
    **THINGS MENTIONED IN THIS VIDEO! 👀**
    💫 Ultimate Guide to Investment Accounts hello.rosehan.com/ultimateguide/
    💫 Call To Freedom Email Newsletter: rosehan.com/calltofreedom
    __________
    **BOOKS I RECOMMEND 📚**
    I Will Teach You to Be Rich (hilarious how-to book on personal finance for millennials)
    amzn.to/2VbJ1Pt
    The Little Book of Common Sense Investing (Jack Bogle's classic advice on index funds)
    amzn.to/32ewzjj
    InvestED (step-by-step, millennial-friendly advice on how to pick stocks like Warren Buffett)
    amzn.to/2SLTYpn
    Unshakeable (this book = courage. blast ALL the fears & misconceptions you have about investing)
    amzn.to/2SKyklt
    Rich Dad Poor Dad (#1 selling personal finance book of all time... need I say more?)
    amzn.to/2SJ6vtx
    Think and Grow Rich (the ultimate book on money mindset and wealth consciousness)
    amzn.to/37N2adc
    ________
    **MY FAVORITE MONEY TOOLS 🖤**
    YNAB (I literally can't live without this budgeting app, so obsessed)
    www.youneedabudget.com/?ref=Y...
    Wise (like Venmo but for international currencies - I use this app a LOT for my life in Mexico)
    wise.prf.hn/l/413jE0q
    High-Yield Savings Accounts (don't settle for 0% when you can get 3%+ on your savings)
    www.bankrate.com/landing/rose...
    Ledger Nano S (crypto storage hardware wallet, because "Not Your Keys, Not Your Crypto"!):
    amzn.to/3Ne37jy
    __________
    DISCLAIMERS & DISCLOSURES ❤
    This content is for education and entertainment purposes only. Rose does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
    This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Investing With Rose is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support!
    __________
    @itsrosehan is my social media handle on all platforms. I will NEVER message or email you about investment schemes, so please be careful and block & report any scammers posing as me.
    SAY HI ON SOCIAL! 👋🏼
    Website: www.rosehan.com
    Instagram: / itsrosehan
    TikTok: / itsrosehan
    Facebook: / itsrosehan

Komentáře • 274

  • @kauigirl808
    @kauigirl808 Před měsícem +296

    My mentality hasn’t changed whether I make 20k or 100k. I still have the same mindset that I’m brokeAF and spend the same as if I’m poor. It’s just habit.

    • @xmusic2049
      @xmusic2049 Před 29 dny +10

      My mindset would change. I would be able to save and invest more.

    • @kauigirl808
      @kauigirl808 Před 29 dny

      @@xmusic2049 I meant spending wise I’m still the same. Invest more than half my paycheck in my 401k. I do go higher if I make more.

    • @angelinasouren
      @angelinasouren Před 27 dny +2

      What if you made 5k?

    • @kauigirl808
      @kauigirl808 Před 27 dny +10

      @@angelinasouren are we talking monthly or yearly because it's a big difference 😂😂😂😂😂

    • @angelinasouren
      @angelinasouren Před 26 dny

      @@kauigirl808 yearly

  • @morganschmidtke9015
    @morganschmidtke9015 Před 20 dny +96

    You left out one key category: GIVING. :)

    • @rushellrousseau9197
      @rushellrousseau9197 Před 14 dny +5

      Very important! Giving is useful plus it just makes me feel richer!

  • @marthawilliams8876
    @marthawilliams8876 Před 13 dny +44

    I put away a grand a month but there is always something. Daughters tuition, car needs tires, daughter not working, medical bills, vacation,

    • @alishajennings2013
      @alishajennings2013 Před 6 dny +1

      Start saving specifically for things you know will come up such as car maintenance, vacation, Christmas, birthday gifts ect. Some people call them sinking funds. I have my main savings which is my emergency fund. But I have smaller amounts that I put money in each month also for expenses I know are coming but aren't very often. That way when they do come up I'm not pulling money out of the main savings (emergency fund)

  • @commonsenseisntcommon1776
    @commonsenseisntcommon1776 Před měsícem +170

    No CC debt, No car payment, Mortgage at 2.25%, building my Brokerage account and saving account.

    • @TheMFStudios
      @TheMFStudios Před 28 dny +3

      Then why are you here?

    • @vintagecrazyjay4970
      @vintagecrazyjay4970 Před 27 dny +18

      @@TheMFStudios I'm here for motivation to continue to stay debt free. Never stop learning. Cheers!

    • @jairohernandez7957
      @jairohernandez7957 Před 26 dny

      @@vintagecrazyjay4970 same!

    • @phansaxtiger
      @phansaxtiger Před 21 dnem +1

      @@TheMFStudios😂

    • @hades1066
      @hades1066 Před 19 dny

      Are you living with your parents still? That's the question we all need an answer to...

  • @zakkrick
    @zakkrick Před měsícem +86

    Don’t trust family and cousins if they want to borrow money, they won’t pay you back. They’ll say I’ll pay you whenever I pay you back or it’s your fault for asking for the money.

    • @lexxko
      @lexxko Před měsícem +9

      Family is family...business is business. Try to not mix the two if possible

    • @georgina4874
      @georgina4874 Před 24 dny +12

      Look at it as if it were a one-time💕 donation.

    • @bronzefire5404
      @bronzefire5404 Před 18 dny +5

      I learned the hard way when loaning out $. If it will hurt you not to get it back, then don’t loan it out.

    • @nargizakhujanberdiyeva
      @nargizakhujanberdiyeva Před 16 dny +1

      Painful true 😂

    • @SP-ig3vs
      @SP-ig3vs Před 13 dny

      Just give them

  • @alexandrathe120
    @alexandrathe120 Před měsícem +98

    This is literally the blueprint on how to become financially independent and financially stable ❤I love your hair and I love the info that you shared with us and will incorporate this in my money journey! Thank you so much 😊

    • @itsrosehan
      @itsrosehan  Před měsícem +7

      Thanks, and you got this! Also if only my hair could give financial advice too, we'd all be set! 🤣

  • @Hyakman5408
    @Hyakman5408 Před měsícem +46

    5:36 I've used the "snowball" method that you talk about, but it actually works by taking the payment from each debt and adding it to the next so that you can pay off the debt sooner (unless I misunderstood you). Put another way: if you have 3 cards and each has a $10 monthly payment, you pay off the first card then add that $10 to the second and pay $20, pay it off and add that $20 to the third card and pay $30 until the debt is gone.

  • @ReachingAMillion
    @ReachingAMillion Před 12 dny +12

    On my own journey to become a millionaire, hopefully within the next 5-10 years. Starting from $0 ... WE CAN ALL DO IT

  • @spillthetea3
    @spillthetea3 Před měsícem +56

    That's smart, putting the financial goals before the wants.

  • @haileyreign971
    @haileyreign971 Před měsícem +120

    The overflow on the credit card debt was accurate 😂😂😂

  • @nw1317
    @nw1317 Před měsícem +30

    I love the water jug metaphor, its a good way to visibly show a budget being used up

  • @dlyroadrunner
    @dlyroadrunner Před měsícem +22

    almost 10 yrs in the air force, and i spend as if i'm still making the same pay check as an E-1.

  • @jordankendall86
    @jordankendall86 Před měsícem +27

    "Making the changes that you usually don't like to make!" was the best quote. I am tired of hearing people complain about finances and yet not willing to make the necessary changes to live below (not within) your means. My only disagreement on the order of filling the cups is that I believe if you have a 401k match, then you should prioritize matching this 100% first before any living expense because most people will adjust their living standards down when they receive a lower paycheck.

  • @ernaleslie3848
    @ernaleslie3848 Před 27 dny +16

    Love this! A visual and understandable approach to saving and investing. Rose, I think your videos should be shown in middle school, high schools and colleges.

  • @BryanL5913
    @BryanL5913 Před měsícem +8

    Thank you Rose you are helping people grow and making a impact on the world with your videos keep making them please.....
    Much love coming from Texas.....

  • @sokkimly8182
    @sokkimly8182 Před měsícem +9

    Thanks for sharing
    I agree the point you brought on
    Save for emergency funds or pay off debt. A lot of people would save for emergency funds, instead of paying off debt.

  • @user-wr6sv9pj1l
    @user-wr6sv9pj1l Před 28 dny +8

    I wish I started to take my finances more seriously sooner. I just started seriously saving/investing/paying off debt in the last 6 months or so and just paid off my car completely. I opened a new credit card for the 0% APR on balance transfers and am taking care of CC debt next, and hope to have that wiped out in the next 3 months. After that I have the student loan mountain to climb but it'll be so much easier with the money that would have been going to car payments and CC payments available.

  • @muyiwaoyewale8439
    @muyiwaoyewale8439 Před měsícem +2

    Totally love this Rose!!!

  • @danielbyler2086
    @danielbyler2086 Před měsícem +2

    Thank you, Rose we love you

  • @vn9393
    @vn9393 Před měsícem +6

    401k, mortgage,utilities,stock,saving,cd,529b,all credit card.

  • @demetriusfields59
    @demetriusfields59 Před měsícem +2

    Great insight! Thanks for sharing!

  • @lilyslight2515
    @lilyslight2515 Před měsícem +4

    I love the waterfall visual :) thank you for your help friend

  • @worldfoodonedish
    @worldfoodonedish Před měsícem +5

    Great info as always Rose. Thank you for sharing. You sharing your knowledge and experience is invaluable to everyone willing to listen. Ì wish I knew then, what I know know. So thank you so much

  • @punisher6659
    @punisher6659 Před měsícem +3

    Thanks for your content.

  • @jefferymccauley9548
    @jefferymccauley9548 Před měsícem +4

    Hi Rose,
    Excellent video with both your wealth of financial knowledge, combined with the visual presentation with the shot glasses!
    Jeff

  • @eliermaxwell5910
    @eliermaxwell5910 Před měsícem +2

    good job rose your hair looks great

  • @dilipanand1676
    @dilipanand1676 Před měsícem +1

    Great tips. Thanks 😊

  • @thomassanfrancisco5850
    @thomassanfrancisco5850 Před měsícem +2

    Complete, concise, and crystal clear.

  • @elzaocean
    @elzaocean Před měsícem +1

    Amazing video, thank you ❤

  • @nancydeleon2124
    @nancydeleon2124 Před měsícem +1

    Excellent information.

  • @patrickmorton1187
    @patrickmorton1187 Před měsícem +1

    This was informative and fun to watch, I like the demonstration you presented. I think this will help many people with their finances, thank you 🎉.

  • @layroca9996
    @layroca9996 Před měsícem +1

    Rose, thank you so much for your transparency and mentality on how to manage money, it has helped me a ton!!

  • @gnd333
    @gnd333 Před měsícem +2

    I love visual examples, thank you!!

  • @TennisTD
    @TennisTD Před 28 dny +3

    This is great. Simple but profound

  • @jamesblock8741
    @jamesblock8741 Před měsícem

    OOOPPS! best part of video/life!

  • @awhyee
    @awhyee Před 18 dny

    So true! I started doing this in getting the habit of paying myself first and that really helps!

  • @LiseLotus
    @LiseLotus Před měsícem +2

    Compound interest! Sounds like a stock funnel!! I’m grateful. Thank you love! ❤

  • @casey4038
    @casey4038 Před měsícem +1

    Love the hair❤. Love the info❤

  • @tz55lj
    @tz55lj Před měsícem +3

    The visual and explanation of the glasses filling, and when full, moving to the next glass is clever and I am sure helped visual/analogy learners.

    • @Shakashack2022
      @Shakashack2022 Před 24 dny

      I honestly thought she was going to chug down each shot glass after each step achieved. 😂

  • @naturallynae2378
    @naturallynae2378 Před 8 dny

    Your content is everything!!! Keep it coming nothing like a good binge watch.. always so motivating and lets me know I’m never late and right on time😊

  • @herodailylife..3993
    @herodailylife..3993 Před měsícem

    thank you

  • @Madchris8828
    @Madchris8828 Před měsícem +2

    Great explanation for an HSA. Seems a lot of folks never talk about them either

  • @hermanlighthall3972
    @hermanlighthall3972 Před měsícem +8

    Hi Rose, great content. Like you I suggest paying off your debts asap, so we can a little more breathing room to save, invest and have a little more fun. By the way how did someone so young become so wise?

  • @rjtavon5089
    @rjtavon5089 Před 12 dny

    Hi Ms. Han, I love how you broke everything down, and you made it so simple that a child can follow these steps. I am going follow this plan on my next paycheck.
    Thank you so much for sharing this information and your personal experience with handling money.
    Have a great day.
    Warm Regards,
    Rj

  • @BeingHomeNow
    @BeingHomeNow Před měsícem +1

    Thank you Rose

  • @geniusben4503
    @geniusben4503 Před měsícem +1

    Very informative and educative content ❤

  • @kirklugg82
    @kirklugg82 Před 27 dny +2

    Thanks so much for sharing this useful information ,I find it very helpful. It's nice that this information is coming from you, because you use the same method
    To become financially independent
    We need more people like you. Thanks again.

  • @toluwanimionYT
    @toluwanimionYT Před 11 dny +1

    I love this video... thank you for making it

  • @kionnataylor2013
    @kionnataylor2013 Před 19 dny +1

    Love this video, thank you

  • @nataliaperry4123
    @nataliaperry4123 Před 13 dny

    Thanks for sharing!

  • @coachcarenfern
    @coachcarenfern Před měsícem

    I can’t I wasn’t subscribed before 😂 as I love 💕 your channel
    Good stuff as always 🥳

  • @commonsenseisntcommon1776
    @commonsenseisntcommon1776 Před měsícem +1

    Good morning Rose!! Love your videos. You are smart and beautiful!! What a package!! Keep up the great work! 😍

  • @tony5enna821
    @tony5enna821 Před měsícem +2

    Je suis français, Im 40 And j'aurais aimé tombé sur une vidéo comme la tienne plus tôt dans ma vie. Thank for the share

  • @rudygoofysrh
    @rudygoofysrh Před měsícem +1

    Great job 👏

  • @lovechildwallflower2289.

    Thank you for the steps really helpful

  • @oliviab3807
    @oliviab3807 Před 27 dny +1

    So helpful ❤

  • @minettesmith4240
    @minettesmith4240 Před 18 dny

    Great video thank you

  • @drayergamz1342
    @drayergamz1342 Před měsícem +4

    First and i love your advices...❤

  • @MrCem1016
    @MrCem1016 Před měsícem +1

    RE: HSA contributions catch up amount is $5,150 for individual & at age 65 can also w/draw for supplemental income but would be taxed.

  • @emmamunday8563
    @emmamunday8563 Před 17 dny

    Really helpful thank you

  • @CryptoFrost897
    @CryptoFrost897 Před 26 dny

    Valuable information 👌

  • @johnnyb1329
    @johnnyb1329 Před 29 dny +1

    I like this idea. I was doing the 50-30-20 rule.

  • @gabrielaquinones9527
    @gabrielaquinones9527 Před 10 dny +1

    Thank you ❤

  • @tasha6734
    @tasha6734 Před 14 dny

    Great tips!

  • @PoeticComments
    @PoeticComments Před 19 dny +1

    This video is great!!

  • @l.a.3251
    @l.a.3251 Před 20 dny

    Excellent!

  • @SLLLC-904
    @SLLLC-904 Před 25 dny +2

    Every day seems like an Emergency!!! Bills high, Insurance super high, and Income low!!! Doesn’t add up!!!

  • @missrd395
    @missrd395 Před měsícem

    Thanks there are a few things I can take way as a Europian😊 some of the stuff dont apply.

  • @siilver1
    @siilver1 Před 26 dny +1

    Rose Han is definitely MY BIGGEST AND THE LUCKIEST DISCOVERY OF 2024 🍀🌈
    It is with YOU that I started my financial learnings!
    Although I knew You exists there from around 2023 because of my constant CZcams recommendations it was not until this year that I actually started watching you!
    .
    Also it was a great video thank you ♥️
    .
    .
    .
    14th may 2024 at 7:39 p.m. Tuesday

  • @annea.1765
    @annea.1765 Před 21 dnem +1

    This is sooooo helpful!!! Thank you so much for making it easy to understand. I wish I watched this much earlier lol 🙏🏼🙏🏼🙏🏼

  • @sherineill6630
    @sherineill6630 Před 27 dny +3

    It’s impossible to keep needs under 50% Most people have to work 2 jobs to survive

  • @EllieR52
    @EllieR52 Před měsícem +1

    Should I max 401k yearly contribution or invest in taxable brokerage first?

  • @msliltrinity
    @msliltrinity Před 11 dny

    @itsrosehan Finance and hair goals! 🙌🏽 Loving geeking out on your tried and true tips. Thank you!

  • @kimwieczorek1879
    @kimwieczorek1879 Před měsícem +202

    Pay down/off your MORTGAGE! We all will get old/sick/tired. You don't want to be left with a mortgage/bill/IOU when you're older/sick or laid off....

    • @richsamuel2922
      @richsamuel2922 Před měsícem +12

      Paid my junk off last month.

    • @nikosniko7092
      @nikosniko7092 Před měsícem +10

      Still have expensive property taxes( never ends

    • @richsamuel2922
      @richsamuel2922 Před měsícem

      @@nikosniko7092 Taxes, insurance and HOA are about $500 a month for me still the best deal in town.

    • @FunandBudget
      @FunandBudget Před měsícem

      ​@@nikosniko7092property taxes is cheaper than having to pay on a loan. Inflating rent is also expensive

    • @tho464
      @tho464 Před měsícem +17

      Paid off my house last year at age 54. Great feeling not having that over my head.

  • @reallll2778
    @reallll2778 Před měsícem +1

    I watched one of your old videos and what economist book shows each countries stock indexes.

  • @siilver1
    @siilver1 Před 26 dny +1

    I am slowly moving from learning about the money mindset to learning how to actually gather wealth. And this is my first step towards it. So I am listening to this as I am taking an evening walk.🍀
    .
    .
    14th may 2024 at 7:14 p.m. Tuesday

    • @siilver1
      @siilver1 Před 26 dny

      Given before getting into money and growing wealth, the only thing that I already KNEW and figured out by myself was the fact that *I must invest in myself!* And to LEARN high income skills!!

    • @siilver1
      @siilver1 Před 26 dny

      So hearing people like you who have made it say that you have invested thousands of dollars in yourself is such a VALIDATING AND REASSURNING THING TO HEAR!

  • @imrana3618
    @imrana3618 Před měsícem +1

    Rose you are georgeous

  • @Kklkoko
    @Kklkoko Před 20 dny +1

    Can you please put chapters on each video? That would be very convenient. Thanks.

  • @potentialperspectives
    @potentialperspectives Před měsícem +2

    rose it feels like your content has shifted from living & loving a full life (incl. van life) to money money money. Money is indeed important - but what about the other things that make life meaningful?

    • @itsrosehan
      @itsrosehan  Před měsícem +2

      Good point... the CZcams algorithm doesn't love my vanlife content but seems like you guys miss it?! I'll think about how to incorporate a balance :)

    • @EllieR52
      @EllieR52 Před měsícem +3

      Except this is the content she’s known for and many still want to see this….

    • @TanyaCardwell
      @TanyaCardwell Před měsícem +1

      Conversely, I was worried when you said during your van life stage that you might shift away from financial guidance... Thank you for not abandoning the financial guidance.

    • @Shakashack2022
      @Shakashack2022 Před 24 dny

      True, AND we still need help with finances (esp our US gov! 🙄). Life balance can come from a wide mix of awesome CZcamsrs sharing different skills & meaningful messages.

  • @kingnasirthesecond
    @kingnasirthesecond Před měsícem +6

    correction about roth ira. u can only withdraw what u contribute. for example if i contribute $1000 into a roth, i can only withdraw $1000 at any time. any profit u make on that $1000 that u withdraw before 59 1/2 years old will be taxed and penalized

    • @elianazapata8893
      @elianazapata8893 Před měsícem

      She says so later in the video.

    • @glamrgirl33
      @glamrgirl33 Před měsícem +2

      Wow, thanks for pointing this out.
      I’ve heard a lot about IRAs but no one has ever explained it like this. I thought the penalty would apply to any amount withdrawn.

  • @billiondollarbella
    @billiondollarbella Před 2 dny

    Yess! Agreed

  • @chillgick8894
    @chillgick8894 Před měsícem +2

    Instead of putting emergency money in a high interest rate savings account. Putting it in a no-penalty CD account. Has to be in $500 increments and you can't touch it for the first seven days, but the rate is much higher.

    • @Shakashack2022
      @Shakashack2022 Před 24 dny

      I think she recommends emergency fund $ in a high-yield savings account bcuz when we have an unexpected emergency, we have quick access to the monies, versus being penalized from withdrawing too early from a CD. Having an additional CD / MM account is a smart investment though.

  • @Ionic_Projection
    @Ionic_Projection Před měsícem +1

    Thanks for the wisdom in the financial learnings, but imagine if we all just simply got taxed less in the first place how that would profoundly effect the economy in itself.

  • @gitjeg3655
    @gitjeg3655 Před měsícem +1

    Very nice! Thank you for sharing this information. I may need to see whether or not this works for me too, since I'm not in the USA. For now I'm actually putting aside 15% after taxes to invest and 10% to my savings. I'm currently also finding a means to increase the cashflow, so that I can get rid of my studentloan debt asap. Is it possible for foreigners to open RIA there?

  • @aliciaburbank9962
    @aliciaburbank9962 Před měsícem +2

    This was one of my favorites! My story. Im 58 and my husband passed away 7 months ago. Unfortunately, we were not prepared. He paid into a pension but at the time of his passing, he was 55, not the required 60, and was vested 21 yrs and not the required 25. I'm only eligible for his rollover contribution refund. I also have a little extra. Can you explain the difference between a Roth and regular ira? Also. Should I place the refund and the little extra in 2 separate ira's or one? Or put them in a high yield savings account? Id love your opinion. Thanks

    • @itsrosehan
      @itsrosehan  Před měsícem +1

      Sorry to hear about your husband :( You might find this free guide helpful for deciding which accounts to open and difference between regular/roth IRA: rosehan.com/ultimateguide
      As for what to do with the extra funds, I say follow the 8 places that I talk about in the video! Also keep in mind that an IRA is just an account, not an investment, so once you put money in there don’t forget to take the final step to actually INVEST that money. I have a good video on that here: How to Start Investing for Beginners (step-by-step)
      czcams.com/video/cnjnJYr-8dk/video.html

  • @tanyazevallos
    @tanyazevallos Před 23 dny

    Donations are very important

  • @paulfarr7
    @paulfarr7 Před měsícem +3

    Yeah, I set up savings accounts with a different bank to my main, so I can't see the amount in my balances. Once the money leaves my account, the day after pay day (set up automated), to me it's effectively spent. So I can't waste it.

    • @itsrosehan
      @itsrosehan  Před měsícem +1

      Niceee, that’s the way to do it!!

  • @livelife2507
    @livelife2507 Před 23 dny +1

    What is a good high yield savings account

  • @LaurynS.
    @LaurynS. Před 10 dny

    Need to open a Roth and HYSA

  • @morganschmidtke9015
    @morganschmidtke9015 Před 20 dny

    Also, LOVE HSA accounts!

  • @NWforager
    @NWforager Před měsícem +5

    don't be ashamed to go to Food Bank when you Broke building Savings

  • @khalia-janellherbin6426

    I been trying to do this for some time now, i have two pots right now one for saving to buy a house and one for emergency, but want to take from, i guess it would be my emergency savings and start an index fund so i can have some investments, on unemployed right now but hoping when i get another job i can start a Roth Ira

  • @williamsimpson2791
    @williamsimpson2791 Před měsícem

    One of the HSA eligibility requirements is that you need to have a high deductible health insurance plan.

  • @darianthomas849
    @darianthomas849 Před 25 dny +1

    What company is good to rath to open with

  • @omgitsmeginbailey
    @omgitsmeginbailey Před 24 dny +1

    One thing I will say is that a high yield savings in today’s economy is almost non-existent. CD specials and interest bearing checking accounts are going to yield the most interest. And even then, your high interest checking accounts have lots of rules in order to earn the interest. Dont let interest bearing be your forefront when starting out your savings. Work to build up the funds to then put in a CD or money market

  • @kasrox3021
    @kasrox3021 Před měsícem +1

    In your example of a $5,000 paycheck, why not put more towards maxing out your retirement 401k instead of personal investment?

  • @annagarcia1037
    @annagarcia1037 Před 20 dny +2

    My paycheck is 1,400/month, with rent, car payment, personal loan, cc, etc. So it's tough on savings.

    • @joannabaker6398
      @joannabaker6398 Před 18 dny +1

      Just start, even if it's $1 for which you can get a fractional share. Forming a habit of investing is probably the most difficult thing. Good luck

    • @Bonkermcbonk
      @Bonkermcbonk Před 18 dny

      It's in big part what she meant about making changes. Are there any places where you can cut back? Are you using all the services that are available to reduce your spending? If you are, then we might need to find some way to get extra income. Get some qualifications and argue for a better wage, or get another job. I hope you can find some way to invest in your future!!

  • @udchen1211
    @udchen1211 Před 17 dny

    It wouldve been cool if you did the rainbow shot pour ;]

  • @yourvirtualteenmentor9964

    I need some more money for all of those cups 😅

  • @liverpoolrichie5305
    @liverpoolrichie5305 Před měsícem +1

    Hey Rose! Love all your content and advise but here's a question: Regarding the Emergency Fund......Should this be broken down with cash on hand? (like $1000 cash in your home safe) and of course a dollar amount based on X amount of your monthly expenses? Let me know your thoughts...Thank you!

    • @itsrosehan
      @itsrosehan  Před měsícem +2

      I say at least 3 months of the most basic version of your monthly expenses for your emergency fund! Also, I hadn't thought about that but you're right it could be good to have a small portion of that as physical cash in your home safe... always good to have a bit of cash on hand!