How To Save $10K FAST (Money Saving Tips)
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- čas přidán 17. 04. 2022
- This saved me $10,000 in one year! Saving $10,000 can seem daunting but these are some steps to save money fast. '
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What are your money saving tips?
Everything I purchase, I translate into how many hours of my life I would have to work for said item, as opposed to it being a “measly twenty bucks”. If I’m not going to throughly enjoy my purchase for 2x the time of what it had cost to purchase, it’s just not worth it. This mindset alone has allowed me to become more frugal and overcome my struggle with finances.
Mine is this:
Take your money at the begining of each month and put a small amount away. Pretend it never existed. :)
At the end of a year you will be surpized!
For me, I like to budget. I set savings and sinking fund goals monthly, subtract fixed and work around that for flexible such as food, entertainment or personal allowance. I love MSExcel! Lol I categorize expenses monthly that automatically link to a 12 month trend chart. In fact, I also love to meal plan…on a spreadsheet! I have my pricebook linked to my recipes. I have done this because of rising food prices. I can see which meals to choose when I meal plan and how to plan for special occasions. I am building a prepping pantry to supplement my working pantry if things get too tight by taking advantage of good or acceptable food prices weekly.
When I break a bill for a purchase, I save the coins in a jar.....when there are sufficient to roll I collect up the rolls and place them in my no-touch savings account.....I have literally saved hundreds of dollars....the key, however, is to not touch the coins.....at all....and not touch that savings account either ..... some discipline needed but it is truly worth it !!
@@itsRiptyde this is the value of the book, your money or your life.
Went from 20k to 104k in 4 years. Saving compulsively. I feel so much freedom in my life now.
How?
How
Beautiful! Show us your ways ! 🙏🏽
Nice. I saved 150k in 4 years. And last year I mad my most money ever I made 37k💪
@@BADMANRKAYY I assume by living in a country where a normal salary is more than 10k a year :D
I'm about 40k in debt but I'm digging my way out slowly but surely. I've stopped eating out and buying clothes, and in the last two months I've made over 2k in progress. Slow and steady!
congratulations
That is great! Keep up the good work. It will feel so much better once you are out.
That's excellent progress, hang in there and when you feel a whiny mood because people have shit and you don't, shut your eyes tightly and stop comparing. You're climbing a mountain one step at a time. For me it was $55K
I’m a fellow debtor, with student loans included, it’s about a 120k. I’m mad at myself BUT I got a second job to dig my out. I’ve paid 2K on my debt so far in one month so far. Slow dig.
Also want to say keep going you can do it.
Yoo doing that saved me 2k as well a month
My best money saving tip is to plan meals for the week & stick to it x
Yes! I was going to put that too. Meal planning! Stop buying take out or going to restaurants unless it’s a special celebration or you’re out and about.
Treat saving like a bill. We have no issues paying out car notes, phone, rent, mortage. If we prioritize saving like we do food then we'd have much more success. Thanks for the tips
Lol I have issues paying my phone, rent, etc
Good way to look at it, thanks!
Saved my first $20k this year!
Any tips, taking notes rn¡ ty
200k in savings, $0 debt, just reached my 30s. Average job nothing fancy, just gotta be good at manageing your money and know when to hold back.
So good. You really hit the nail on the head.
Ufff 💪 I am at 60k. 28 years old. Working my way to 100k
@@1957346 keeping going!!
Sure you did
@@jrr7031 if you can't do it . Just say it
I try to limit purchases of processed foods. Example, instead of buying frozen French fries, I buy 10lbs of potatoes, chop them into French fries, put into ziploc, add spices, shake, and freeze. Now I've got frozen fries ready whenever I need them!
Buy a big freezer and use it!
Great tip! Thank you :)
Fries make you fat
I saved 13k this year and I make 40. It can be done, and it can be done easily while you still allow yourself to have fun too! The key is just not needing that 10k. If your bills are so high or your income is so low that 10K is essential income, it'll never happen. Either make more money or spend less money
For example, now that prices on gas, groceries, rent, and everything else have gone up so much, unless things go back down this is not something I would be able to duplicate next year. Don't beat yourself up if you can't get there. I find it's usually not an issue of budgeting but rather an issue of the money not existing
13k on 40 is actually really really good. happy for you
Thank you this is very inspirational. I am on the same income and will do more to save and increase income. Addressing my thinking and my faith at this time... I've been on Cobra insurance and it's half my rent, but I have no right to complain as it doesn't help my situation. As the Good book says "If you believe all things are possible to those who believe." And not believe what my physical eyes see!!
Same.
proud of you
Great job ma'am 👏 👍 👌!!
A friend of mine that is a financial advisor started me on my debt free journey simply by telling to write down my savings and checking balances at the beginning of every month and then comparing it to the previous month. Same for credit card balances. Did they go up or down? I automatically started writing down what caused them to go up of down. Then I worked to correct any bad behavior and improve on my good behaviors.
That's a great friend
I make a weekly balance tally.
Thanks dude
I was gonna start a weekly balance check this weekend. Decided not to. Because today is Monday and what better day to start a weekly check than the first day of the week! Why put off to tomorrow what I can do today?!
I use snoop app for this, really helped. I've never been able to save
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
just behind you. Early retirement with no debt. Children are taken care of well. I'm building the house of my dreams on 11 acres that look out over the river valley. While there are other ways to become wealthy right now, only real-time pros are able to execute such high-volume, near-perfect trades.
Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My mentor, "STACIE KRISTAL WEBER" who has witnessed hundreds of market cycles over the past three decades, taught me this. She has an intuitive understanding of how things move, why they move, and what will happen next.
Check her up online; she has a website where you can contact her and properly get in touch with her to learn more.
How to save $10000 in a year:
1. Earn a job that pays me 6x more.
2. Do not spend any money in a year.
Jobs will pay your bills, business will make you rich, but investment makes and keeps you wealthy lifetime, I hope you become successful!
Stock's are crashing, Bitcoin investments Right now will be at every wise individuals list, in a month you will be ecstatic with the decision you made today
Assets that can make you rich
Crypto0
Stocks
Bit coin
Real estate
@@christopherlebrasseur7235 Yes, exactly, crypto trading is the world trending online investment now
My husband and I buy snowmobiles in the spring and sell them in the fall…we make $1000-2000/machine. We do the same with watersport machines - buy in the fall and sell in the spring! It helped my husband buy an airplane with cash😊
$10,500 paid I’m debts free thanks so so much Instant profit🖤org🙏🔝
@meganhamlyn1694 did you guys have to maintenance/fix up snowmobiles and jet skis or were they already running good and you profited just by selling for more than you paid?? Thank you!
@@sabrinaboston9289 luckily, my husband is very handy. He does simple repairs, spruces them up and then sell them. Hope this helps!
According to Elon Musk", Since I’ve been asked a lot: I will always advise, we buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
what i think you need is a Financial Adviser, who can help you get in and out of any stock you buy at any time and you'd sure be in Profit
PRISCILLA DEARMIN-TURNER, That's whom i work with
No she's not!...You can just put her name on google and you will be directed to her website and drop her your message.
Getting rich off crypto is much tougher than it seems. I keep losing money while trading with these youtub videos, and finding a trustworthy professional trader to help out with these trades also appears to be nearly impossible. This is extremely annoying
That's true! Most failures in the market system today is as a results of poor orientation and bad experts methods in winning
In any market, in any country, there are developers who make money. So I say all of this doom and gloom, but there will always be people who make money, because people always want homes
Real estate has been the best but crypto is better rough for fast wealth growth
That's good to hear 👍
One thing I tell everyone is learn about real estate. Repeat after me. Real Estate provides the highest returns, the greatest values, and the least risk but you have to be patient
69% of American adults mix up the words "there", "their" and "they're" ;-)
i dont care
Most native English speakers muddle the three "there"! Those who learn English have a reference point because they've learnt words from a different starting language. There are people who don't care about the quality of their language and each to his own but they're maybe just unaware or embarrassed to ask.
Hahahaha I saw that too... it should be 'their'...
Their confused
Hey Sir, why not start that channel??? There are many people who might want to improve in that area and would benefit. Personally, I appreciate proper spelling, pronunciation and usage of words, that's just me, lol. I accept that it's not as big of a deal to others but, secretly, would love to know why, lol 😉
My side hustle is door dash. I make about 200 extra a week after gas expenses. They also give you a debit card that pays 10% cash back on gas station purchases. It was 2% but they raised it when the gas spiked recently. I save my rewards as extra savings. When they hit 50 bucks I cash them out and put those in my savings or stock account as well. But even just 200 a week is your 10k, so I strongly suggest that avenue if you have a reliable vehicle. Also, I could easily make 300 a week. I'm just lazy and between that and my regular job, I like to take more days off.
Hi, how many hours a day do you usually do door dash? I'm looking into door dash as well. Ty
Is this still a good idea now? 8/31/2022
I have a job but i also doordash i mean hey its extra money at least i want to save to 8k for a year for a downpayment for a new truck
I signed up for Door Dash but I don't know if it's worth it with the gas prices now.
@katrina that is a great idea! I DoorDash from time to time and for everyone asking if it’s lucrative, still? I say yes! Tip: don’t accept just any order(s)! Calculate the miles to trip ratio (helps maintain gas & also, increases your overall funds while dashing). Another tip is to monitor the hotspot times and check for increased bonus areas.
Hope this helped 🙏🏾
*Considering the economic downfall and the rise in poverty across the globe. I ask; What’s the best way to achieve financial freedom?*
By following this practice; *(Being frugal , Investing and staying positive),* and by working with a *financial planner,* I achieved financial independence.
If I could ask; who’s your financial Adviser and how do I gain more info?
I get help from *Donald Nathan Scott.* A well known Investment Adviser who operates privately . You can research his name to get more information.
I am extremely delighted to see Mr. Donald Nathan Scott’s name mentioned here. It’s been three years and I vividly recall my experiences with him. My accomplishments and success became a reality working with him.
It’s hard to find someone who can be trusted with money but having encountered Donald Nathan Scott and his services, I’m convinced that good people does exist. I’m not there yet , but certainly I will boast of a *Skyscraper.*
One lesson I learnt was to "put systems in place". That is how you achieve your goals.
I had $80K in savings, got divorced all went to attorneys. Starting over😔
So relatable I had $6k saved up then I got into a car accident with expired insurance Due to my brother not telling me it was expired now I owe $12k and I was saving for a BMW 😿
Sorry 😢
I try to write down my money goals so I can achieve it. I also make use of a 50/30/20 pattern which has helped me iron out my finances.
How do you budget using this pattern you mentioned.
@@annasawyer9081 it's a 50% expenses, 30% investing and 20% savings. I try to spend less which has created more room for investing.
My budgeting is way bad I manage to save just 5% because I don’t earn much.
@@skyauden2522 you have certainly done well for yourself, if I may ask what are you invested in.
That’s a nice budgeting pattern.
I was laid off at 53 and was easily able to retire after an excellent life that included prioritizing saving. We have a modest house, but don’t need to downsize with kids now gone. Our cars we bought new but kept for about 14 years on average. We paid down our mortgage a bit extra every year, which makes sense in Canada since it isn’t a tax write off. We buy older models of phones. From the other end of our careers as older people, I can say that your advice is great, and totally worth the effort.
How nice you didn't have a child with major disabilities that has kept you in medical debt for 27 years and counting. Go ahead and pat yourself on the back because life was easy foe you 😡😡😡
With how expensive houses are now...
Us 20 years old are going to have to live with 3 other families like how it is in L.A. Houses are no cheap anymore far farrr from cheap ;(
I was laid off at 48 during pandemic. I’m having a hard time finding a main hustle much less a side hustle. I’ve been told on down low it’s my age and experience- a new grad is much cheaper. So frustrating then rent and food costs go up
I recently got into the youtube financial niche, and I’ve taken a deep dive into investing, particularly in stocks, and ETFs as they interest me. Tried several methods trying to figure out the best approach to building my portfolio. So far, I’m making progress with the help of an astute fiduciary. I’ve been able to compound over $78k in profits from my trades. Back to the video, wonderful job there, always look forward to your next content.
@Akina M OtienoFor me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
From the your comment, I instantly knew that you have good technical understanding, and experience of investing! Professional help can never go out of style because you have an advantage over others.
Putting money into profitable assets has always been top priority that’s why I invest because it affords I and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising to see the rate at which I’ve had consistent growth. Even got my third payout last week. Real stand-up guy.
I have paid off my mortgage, and have enough saved in my emergency fund before hitting 40 next month. And by God’s Grace I invested two-third of my salary in stocks, ETF, and bonds. Over time my investments have yielded a little over $92k with Sir Jonas’ help. Looking at building a robust retirement in 2 to 3 years time.
@@Rubyruby287Could you be kind enough to drop a lead to him? Thank you in advance.
Just subscribed hope you get to your goal someone posted this “making money is action, keeping money is behavior. Growing money is knowledge” well said I’m 38 and learning the growing part
I’ve been completely debt free for 16 years now! I’ve actually managed to budget my way down to $0 per month required spending. Hopefully I can keep this up when I become an adult.
What’s the secret 😅
@@wonderwendy he’s 16 😂😅
@@bluegiraffe200😂😂😂😂😂
😂😂
Good luck with that, living the dream 🤣
I'm 13 and my mom works at a bank, and she opened an account for me. I have a summer job and I make 10/hour and I only work weekends like Friday and Saturday normally from 2pm-11pm. She opened the account for me around 6 months ago and I only started putting money in around 2 months ago. As of right now I have 916. I have only spent money on little things like snacks, accessories, etc., but for the most part I put all of my money in, and what I'm hoping to do is put all the money I get in from like birthday money, Christmas money, chore money, work money and what ever else I get, then use the money when I am older to buy things. I have been using strategies like these since I started saving and this has actually really helped! Thanks for the tips!
I'm going to sound like an old person in saying this, but you'll never have less bills than you do right now, so good on you for saving while it's relatively easy! It will set you up for using money wisely when you have to pay all your own expenses. I had a "saving" mindset in my childhood and teens, and having that emergency money that I'd built over years helped get me through some tough times during college.
Awesome keep it up!
@honeybeepl open an account on a bank that gives you high returns. Min 2:37 he has an account at Yotta bank. I just started and I’m very happy! It is FDIC insured
You are my all-time favorite channel for frugal living videos. Keep up the great work.
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As a coach for over ten years I am always a little surprised how many people don‘t write it down. It‘s almost magic 😂 😁
It's it wild that most people don't practice this and it's seriously a game changer.
What does writing it down do
That's kind of a scary statistic that such a big percentage doesn't even have $1000 in savings. Really great and simple keys, I've operated on direct deposit into a dedicated savings and it helps keep me honest
To be honest I don't have that in a traditional savings account, but I prefer to keep it in my personal portfolio and Roth IRA.
This is very doable. Lots of times we buy things we don’t really need on impulse. I had been catching up on credit debts. Now my income can be used to save and he pays 80% of the bills we can achieve this easily in a year thanks for the enlightening information.
Ive recently been going full on Cheapskate,I came to a conclusion i was buying about a gallon of water every 2 days to drink,That was at least $180+ a year so i just bought a sawyer water bottle with filter for tap water for $19.99. Its rated up to 100,000 gallons so i may never be buying bottled again
Downloaded this so I could hear,watch it everyday every morning to motivate me. 🤩🤩🤩
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True, I write down my goals and pray about them. And paste it within view so that I remember it
So many things!
1. I'm so excited I found your channel it's amazing.
2. Minimalism has helped me save money
3. I don't want to be zero waste...but cutting down my waste has dramatically cut down my spending and reckless impulse buys.
I love side hustles! I used to flip items and it was so much fun and rewarding. I had to give it up to be a stay at home mom but one day I’ll go back to it. I tried to continue in my current situation but it just isn’t possible to cook, clean, take care of a toddler and myself and flip things. So budgeting and reducing our grocery bill is something I can do!
I cut coffee consumption in half
I saved money
Starting from small things really makes a difference
The safe way to double your money is to fold it over once and put it in your pocket.
I really enjoyed this video..highly engaging and what really stuck with me is "save money rather than focusing on how to make more"...thanks!
The whole side hustle thing is frustrating. I’m just not one of those people for whom ideas like what to hustle at, comes readily available to me. I barely can hang onto the work I have. Plus manage the rest of the responsibilities I have. Plus feel like I’m not burning the candle at both ends. It’s just not that easy to suddenly say to the universe “ooo, I could do THAT and make an extra 400$ a month!” I can’t be the only one out there feeling this way. It works for some, but only if they’re presented with an opportunity.
I totally understand where you’re coming from. I am someone who pursued just a really good salaried paycheque from a job I find meaning in instead of a side hustle. But regardless of that, quality of life should always be prioritized and I think this is different from person to person. That said, if your side hustle can be something you are truly passionate about (ie find a way to monetize your hobbies), it can definitely work.
Also not everyone has something they are good at or if they do it isn't something marketable like touching your nose with your elbow. "Just start a side hustle" isn't really that great of advice
@@dustinreynolds1552 Precisely! Thank you for saying this. I feel validated by knowing someone else understands ~
Your absolutely correct
they also often bad at not spending on crap, unhealthy unethical unessential objects
Interesting concept! I like the idea you laid out of writing the goal down, writing it into existence is defintely a thing
I've been trying to put at least $100 from my check every week into savings. $400 a month isn't bad.
You break things down well and explain how little things add up. The thing that makes me cringe time and time again is when financial advice is "start a CZcams, start a social." You may consider yourself a success but the percentage of people that earn from social is so small that it isn't realistic for most of the population.
❤❤ love your channel! I was good at making money but spent for nothing. As i getting order , i realize making money is not easy. I found saving money is as important as making money. Oh boy! You have changed my sticked thought. Thank you so much!!
Another tip: Look around in your apartment. You might have a lot of stuff that you don't need anymore that you can sell.
If you don't know what you need and what you don't need, put everything into boxes. Everything that you got. And when you need something, take it out of the box. Everything that's left after three months are things that you don't need.
NEW SUBSCRIBER 🥳🎉😍 THANK YOU ! This was VERY inspiring !! I LOVE the transitions and effects. Keeps the viewers attention 🔥
I am starting to be very conscience about money as it is extremely important in life. I have a goal of reaching about 10k like the sir said in the video in 1 year. I will realistically aim a little lower than that because I have many bills. After I do my back breaks and a new front tire, I should be pretty set to be able to put money away between January-May this year
Try saving money every single day, doesn't matter how much just do it-before you even notice time 5months passed already cause time flys fast and by than you'll have crazy amount of money I save mostly with dollar bills it sure does help me allot
This just gave me a different way to look at money! Thanks!
Having a thousand in an emergency bank account is definitely good, but I also keep a thousand in cash. More than once its gotten me out of a jam.
ALWAYS have cash saved on you. Never know when you will need money.
3 mins in and I’m loving what i hear thanks! New subscriber
this guy is like a minimal materialist
Minimizing bill expenses, like unplugging items to only using air conditioning and heat when necessary... To know for sure how much cleaning products to use. They will all help save that money. I really started doing extra just to try and save $5-20/month just on my water and electric. Etc. Then so on.
I'm trying to master my money, so videos like these are extremely useful. I'm definitely subscribing.
Always love your videos always have good points. Keep the good videos coming 😊🏝
Thanks!
I like your style. I work extra as much as I can. Just started realizing that in my field there's plenty of OT. So the Ot gets put in high yield savings account. Just live below your means. Get rid of debt first as soon as possible. Otherwise no saving will take place. Write it down is the best advice. You have to see it layed out before you. I was spending on take out food every week a few times. Coste a $100 Xtra a week. It's crazy how simple it can be. Starting is hard but can be done.
Which savings accounts do you use? I use Current for 6k at 4% (6k is the max for interest) and Discoverer at 3.3%for everything else.
Literally the best budget/ saving video ever….and the breakdown was simple and easy to understand thank you 👌
Probably one of the best videos I've seen breaking down the money spent and saved. It all adds up and multiplies pretty quickly.
I really love the tips and ideas you provide. They are really actionalbe.
Great tips! I especially like the daily breakdown.
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Love the temp tattoo idea! May know where you get the temp tattoo ink that lasts 6 months? I could only find ones that lay up to 2 weeks on Amazon
Get a temp tattoo marker and write it again when it fades
been watching financial vids and I like yours the best! down to earth, common sense and realistic.
you are 42 % more likely to achieve your goal if you write it down
before you decide where the money is going to come from
DECIDE where its going to go when you get it
or it will go as fast as it came
awesome tips Gabe! thanks for sharing this video. so happy I found your channel! I save money through meal planning and living a minimalistic lifestyle, being happy and grateful for what I already have! :)
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How do you keep saving when your income drastically decreases? For example going back to school or job loss? I like the suggestion to not use budgets,because my financial situation changes constantly!
The habit is more important than the amount. If you can only put $1 a day away that's fine or even if it's just $0.25. It may not seem like a lot but it will add up and when you do start making more money again then the mindset will be engrained and it'll be so much easier to increase the amount instead of introducing a new budget category.
Agree with Jenna. I have an account with a bank (3.5% interest) and I put a “zero out” amount in there weekly. Basically, if my regular bank account says “$221.71,” I put the $1.71 in it to have zeros at the end of it. Even those small amounts weekly add up. I am already at about $50 saved just because of this.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
Full time traveler here. Keeping one steady budget will never happen for me. I make a new budget weekly that reflects my activities that week, foreshawdowing the following week and including annual bills. This is my every tuesday activity.
When you go to buy something ask yourself “do I need this” if the answer is no don’t buy it and put what the item costs into saving account. You will be shocked how much you save and would have wasted
Save as much as possible. Spend as little as possible. Ignore everything else.
Honestly. This is like 80 percent easier while living in a first world country.
South Africa on the other hand is not that simple .
Currently watching the minimalist series. Love it. Going to start implementing that soon
Yet so many will be stuck mentally in woes. If you have the mentality/discipline you will achieve it, though there is more obstacles in South Africa never give up!! Infinite opportunities just be open to them
I also agree with this statement...Especially with the rising costs and petrol prices going over minimum wage per litre. But I'm going to try to save up a sum to invest because my last lump sum went towards my studies
Yip South Africa 🇿🇦 has become a lot more expensive and challenging for a large portion of our population. Living expenses vs increased cost of essentials is challenging world wide.
@@CarynPretorius best thing you can do is complete the studies and get out. Nothing here for any of us anymore.
I hope to leave with my fiance and son in the next 2 years hopefully.
She is a teacher and I have a small private lawn care company and grow Microgreens for local restaurants and we can't survive with basic needs like vehicle and medical aid. Can't even afford our own private place to live. So we want to get out and move to new zealand. It's expensive there yes but we are used to such a mediocre standard of living that we will be fine there. Not to mention the safety there taking the strain off of everyday life
Can you make a video about index funds? I know this is an odd question, but how do you know if your employer is deducting tax accurately?
The state & feds take $2 hr
Excellent tip, simple strategy. Thank you.
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It's funny, the most important thing you said in this video are to write down the days wins and then tomorrow's wins.
However, I would like to tweak it slightly as I am going to start doing this modified practice tonight.
I have ONE and only ONE goal I am going to focus on. I am going to write down my ONE goal everyday in script, then today's wins in terms of this goal and tomorrow's wins that bring me closer to that goal. And I will keep score to see how I am doing. The numbers always tell a story. Thanks for the tip!!
Love your videos. Not only are they educational, they are inspirational and funny! Thanks for all your effort in putting them together. As a new CZcamsr I can truly appreciate the work that you invest. P.S. Intro text graphic should be “their” not “there” in case you want to correct. ;)
It seems that you don't like the term "budget," but everything you described is...a budget! You track all of your income as you earn it and decide where all your spending and savings will go. That's budgeting :D
Maybe he means strict budgets where you actually allot yourself so much for everything. Those are harder to follow. Sometimes you just really want that meal out even if it puts you 2 bucks over your budget. I have never been able to follow a budget like that. I set my savings goal and pay myself first, then what I have left after bills I decide what I want to spend it on. That works better for some people. The main thing is paying yourself first. The rest you can be flexible on.
@@katrinamillings3651 Then he doesn’t understand what a “Budget” is. A budget is just a $ plan meant to keep you in line with YOUR goals. You can then track actual spending to see what is really happening to your money and reassess your goals to see if you need to adjust your plan or your spending. It helps to know what your goals are in order to reach them.
@@dpayne1943 Yes, a budget is just a plan for where the money goes that will ideally line up with your own goals. Having a goal says nothing about where you're going to wind up after following it for years.
@@katrinamillings3651 PYF is the 🔑
dude your video quality is top notch. You got the 500k goal in the bag.
thanks ryan!
How do you manage your money without a budget? I definitely don’t have a strict dollar for dollar budget but I do like to have goals what I want to spend on bills, put away in savings, eating out, etc.
Bro honestly your content is amazing. You can probably tell by the way this unfiltered channel is exploding. It's not your editors or team ( yes they're amazing and so is Instant profit) but we love you bro and we love this cult. Fuck being a Jeffrey you are so motivating
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Supporting this channel. I stand firm on not wanting more and making the decision to not have coffee (or calories) to save my money eventually got me paying off my home loan sooner than I imagined. Plus of course a big help on my side hustle.
Good video, I have a full time job, married and have 3 kids. So saving money is hard. But one thing that I was able to do to get extra money is turn a hobby of mine which is comics into a side hustle. I took my love and passion of comics and now whenever I get a chance I go looking for comics on the cheap that I can flip to make some extra money. This works for me as it is something I like to do and doesn't feel like work. I would tell people to look at your hobbies maybe you can turn that into a side hustle. Thanks for the tips on saving money.👊🏼
Hi Gabe I have started doing this. I have done it in the past but have not remained consistent. But today I started again writing down my goals. I subscribed. I'm doing the frugal thing. I missed a subscription I currently but next year I'm not renewing it. That will be some money saved. I'm glad I found your channel.
I love that your videos get straight to the point. New subscriber here. Thanks for the tips!
Thanks for subscribing!
I agree with everything you said in this video EXCEPT your advice NOT to make a budget. If you don’t track what bills &/or debt you need to pay & how much money you have to pay those bills/debt? Or how much money you have to save to get to the goal of $10k in the year?
I think the biggest mistake most folks make is making an unrealistically tight budget. So if a budget is your thing make sure to allow enough for food (try to cook most of the time) , clothing (thrifting maybe) or fun (budget type things can be just as much fun ie a bbq at the park with friends vs expensive concert tickets), etc. And when you get some unexpected money, save a lot and pay down debt also.
I am really enjoying your videos!! Thank you so much!
Great Video. You will reach that goal, just keep the press
I'm on disability and looking to pay off some credit card debt and also save so I don't use a card in emergencies.
The "problem" is I only get 1200 a month and that's got to cover food, housing, utilities and any meds that aren't covered (about $100 worth) plus all the other expenses. Another "problem" is that I'm not allowed to have a savings greater than I believe 5k (or any assets beyond a home and car at that price).
This said, I do pay all my bills on time, and I manage to end most months with at least something left in my account, I pay far above the minimum for my credit card repayment each month.
Amazingly, I know there are areas I can still cut back to divert money to saving and debt repayment. However, I literally don't have the money to save 27.40 a day. I'm thinking roughly that I could save around 250 a month. Would love to know if you have any fixed income type of tips. I realize a side hustle would be the obvious choice however there are problems with this. First, they usually aren't sustainable long term, and second, any income I make actually needs to be claimed each month on my disability, they basically will deduct what I make from what they give (which wouldn't be horrible) but then if i make what they give or more, I'm cut off from the medical coverage and benefits like dental, eye and most prescriptions and that would leave me both hoping I don't have an issue causing me to be unable to do the side hustle and having to cover a ton of very expensive things like medication costs. While I realize this totally sounds like an "excuse to not work", I've tried working and even doing self employment type of things, in both scenarios I burn out mentally extremely fast, begin to have flashbacks and nightmares and then end up in the hospital with irregular heart rhythm caused by my severe PTSD. I would LOVE to be able to work and earn amazing money instead of living below the poverty line but realistically I simply am not there with my health. Would def love some tips for debt etc for ppl in similar cases to myself, or credit building since many jobs and even apartments do credit checks now. 💗
Become a MeryKate consultant and earn some extra cash. Contact them.
This video IA bullshit . For people who are lucky enough to have all the advantages in life to make that even possible.
Depending on your health and outdoor space could you start a garden and grow some of your own food? It could save you money, you can go at your own pace and it is good for your health as encourages you to eat more veggies and do exercise. If you get really good and have surplus you could consider selling but that doesn’t have to be the main aim.
I am 71 years old and I’m in the same predicament. I am able to save about $100 a month but it is very hard.
@@laurenh1810 in theory yes but we still have snow on the ground. I do usually grow tomatoes, a variety of greens, berries etc but this year's growing season is already being cut back as I would normally already have some things in. Surprisingly, food costs are probably already my lowest bill though. My highest expenses where I live are heating and electricity, despite not using lights etc all day and having LED bulbs in the evenings. In the past I grew some food indoors as well but needing to have grow lights really added up the electrical bill. 😔
love your content! subscribed today :)
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Sound advice. My tip: if you live in a state with can and bottle deposits, pick those up whenever you'rr walking and see one. Carry a plastic bag in pocket just for these. They add up! My state pays .10 ea. They really add up. Save receipts to add up your total win. It's free!
Excellent presentation, love your work!
Loved the temporary tatoo on your wrist idea. Subscribed!
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6:35 Oh, now we come to my point all along. To quotee you :"Saving money is 30% more efective than just earning some extra money". Those are some big ass percentiges right there. I sure wouldn't wanna borough money at 30% intrest, just through that lence you can see how big of an impact saving money and living frugaly makes.
the key is cash flow...you need to increase your cash flow ... there are a large number of side hustles you can do. I like to flip furniture. but you could uber, door dash. sell shit on etsy or FB marketplace.
Love love love this video! I like how you broke it down
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I am currently obsessed with your videos. I’m saving all the money I can, starting with all the. Only I’ve saved being part of the NHS in England. Every time I shop, I put the money saved in a tin, till the end of the month. Low/no buy this year. I do have a family savings account and some shares, which can be sold a couple of times a year. Thanks for the wonderful advice. Lesley England x
The pound is being inflated to the moon, why would you save it and not invest it.
Thanks for the video. In my experience, to stop eating outside and bring lunch to work from home is defiinetly a game changer
True I had list on fridge of home improvements I scratched off each one at a time. I started paying myself. I taught others to payoff debt. Had friend left with 30k cc debt x wife. He got it paid off in a year.
Thanks for saying no budget. Something blocks my mind from that. I would much rather spend the time, energy, bandwidth on writing down what my financial goals are and reminding myself why I don't need that fast food or clothing item on repeat.
$10,500 paid I’m debts free thanks so so much Instant profit🖤org🙏🔝
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I always had trouble saving, at the end of a yr I'd realize I only saved maybe 1/2 or less or nothing of what I wanted to. Taking a lump sum every pay aside to another account was painful + didn't often happen. So a few yrs ago I did a budget crunch, figured out how much I had after expenses to spend every day as managing what I spend in a day is doable for me. Got the figure + decided to put aside $20 a day of that money into a savings account, that way I wouldn't feel it. It worked! Just got a raise so starting tomorrow I'm going to put $27.40 aside.
Thankful for this super positive and informative video. Content makes it calm and easy for adhd person to maintain focus and coherently intake all info. 10/10 5 ⭐️ ⭐️ ⭐️⭐️⭐️
Just use the 50/30/20 rule
50 percent for needs 30 goes on wants and 20 goes either your saving or closing your debts or it can be both.
Dang! budgeting was the most exhilarating part of my financial journey lool