These Millionaire’s Money Tips Will Blow Your Mind!
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- čas přidán 26. 06. 2024
- Are you curious about how ordinary people achieve extraordinary financial goals? In this video, we’re diving into the inspiring journey of "Millionaires Next Door"-everyday individuals who have managed to retire with a net worth of a million dollars. Only 7% of Americans have a million-dollar net worth!
It might seem hard, but with the right strategies, mindset, and a bit of perseverance, you can achieve this, too.
We'll explore practical tips and proven methods for retirement planning that can help you grow your wealth steadily over time.
Whether you're just starting your career or approaching retirement, these insights are valuable for anyone looking to secure their financial future.
We'll cover key topics such as frugal living, saving money effectively, and how to manage your money wisely.
Additionally, we'll discuss the significance of having a clear personal finance plan and sticking to it, even when faced with challenges. This video is packed with actionable advice and motivational stories to encourage you on your journey to financial independence.
Learn how to make smart financial decisions, avoid common pitfalls, and set yourself up for a comfortable retirement. This isn't about get-rich-quick schemes or risky ventures. It's about steady, sustainable growth and the habits that can lead to long-term success.
So, if you’re ready to take control of your financial future and join the ranks of those who've turned modest incomes into millionaire status, this video is for you.
Discover the path to retiring with a million-dollar net worth through smart retirement planning, frugal living, saving money, and effective personal finance management.
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I’m so very happy to have you here. We are all about saving money at Frozen Pennies. Whether you have a goal like debt freedom, purchasing a home, retiring, or just making ends meet, we are all about making that happen. Here you’ll find tips on saving money on groceries, ways to tweak your budget, and living an overall frugal life (all while having more fun)! Thank you for supporting my channel.
About Sara:
Sara is a wife, mother, and creator of Frozen Pennies. With a degree in English, a former teacher, and a Certified Financial Coach, there is no better place to learn about debt freedom, budgeting, and overall frugal living.
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DISCLAIMERS:
- Links included in this description might be affiliate links. I may receive a small commission if you purchase a product or service with the links I provide at no additional charge to you.
- Information on this channel (Sara Conklin, Frozen Pennies) only represents my thoughts and opinions. I am not a medical doctor, medical professional, or financial advisor. However, I am a certified financial coach. All content on this channel is intended for entertainment, informational & inspirational purposes only. Don't hesitate to contact a professional with any questions. This video and all videos on this channel are a means of social support.
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This video sets an exceptional benchmark! - "Value the journey, for it molds your path to greatness..."
This was so much more interesting than a list of frugal tips!
Thanks so much! I’m trying 🥰
Live below your means.
Yes!!
This is prime advice.
A100K a year isn’t low income mine is at 36k a year.
I think it's so cute when people making that kind of money are complaining. They have no idea how bad things could and will get. Eating fresh veggies is nice, if you can afford them. My grocery budget for us two is 20.00 a week, we eat out of my stockpile of groceries. There are months that I don't go grocery shopping waiting for a good deal to come along and spend all my 20's I have piled up. This week hamburger is on sale, I'm going to sneak into my pile of savings to buy extra. It is difficult to find a good budgeting channel that isn't for the upper middle class, someone to help you to learn to save the juices off of a pork roast to use for pork noodles. How to scrape the grease that comes to the top off of your boiled chicken to save in the freezer for the grease you need to make biscuits. To boil your ham bone first by itself to get the juice for potato soup, then put it in your beans. Basic things that we don't know how to do until someone stands up and tells you. Of course, we don't have streaming services, we have utube, why waste gas going to the library, no special trips anywhere. Reading books? Hope you have insurance to pay for glasses most of us don't.
Yes but remember, they are two people with two incomes.
Mine and hubbys is less than $30k..I’d feel rich if I made $100k
@@saraconklinfrozenpenniesthat to me is still a good income for two people…considering we make less than $30k as a couple..but with home/cars paid off we live really well compared to most with our income!
Smartest budgeting thing I did was to put my credit card on autopay. It forces me to be conscious of my spending. While it's great to occasionally (rarely) treat myself to something beautiful at Bloomingdales, perfectly good jeans at Goodwill cost less than $7, and some are from upscale brands. I don't begrudge food service workers their income, everyone has to earn a living, but I find it very difficult to spend $100 on dinner out. On my budget, a little more than $100 can buy a week's groceries. The biggest surprise for me is that I don't feel like I'm depriving myself.
Love this!! And I really love autopay too. The less I have to think about the better!
CZcams have LOADS of free movies.
Great tip!
If u have a smart TV there are tons of free apps for movies and a smart TV has their own channels you can watch..if it weren’t for my hubby wanting all the sports channels and Fox News I would do away with the Dish and just watch the free stuff!
Live below your means and focus on your needs (& wants)- for yourself, not for keeping up with others.
Love it! Absolutely!
If I had a big lunch like that, I wouldn't need dinner
Me, too!!
so what about someone that never contributed/does not have a pension? or two incomes? Or a rental property? None of these tips really help someone that is facing 'retirement' within 5 to 10 years without those things already in place... What is the average age of the people watching your videos? Wouldn't it be better to focus on something doable for that demographic? I do not eat out, I plan meals, I finally have a paid off house and do not carryover credit card debts. As a single person, my adult life has been about staying ahead of poverty. I no longer read because I have had a vision issue, so it's a struggle finding things 'to do' since I used to spend my spare time devouring books. I have a budget that I closely monitor. Had I started with tips like you mention here 20 plus years ago, yes I would be in good shape for retirement, but being single it was never an option, or at the least I did not have the financial sense back then. My journey began about 5 years ago and since I am now 61 I know that I will probably be working for the rest of my life.
That’s what gets me,he doesn’t do team. It makes it difficult to be frugal.
I imagine that’s SO HARD! I feel you.
True for me also m.
@@saraconklinfrozenpennies Need tips on how to stay strong and focused in retirement after making all the mistakes and getting discouraged with myself.I do enjoy your energy and hope ,hearing it helps! Thank You! And not getting off track without team player.lol,haven’t figured it out yet.
Not really if he doesn't do team work, fine do it yourself. Split the bills in half you keep your money separate. If he doesn't work as a team then it isn't a good marriage. Keep money separate be ready for him to walk out on you. I'd start putting money away, he doesn't need to know what you are doing. You can cut back on the grocery bill he won't even notice. Protect yourself and you children first.
Good morning SARA, awesome video,great tips.
Thanks so much and thanks for watching.
I like to camp as well. But, I don't need a camper. Depending on where I camp, I'll either camp in my tent (not sure how old it is, but probably at least 20 years), or the cap I just got for my pickup. I don't need fancy.
I think this is great. I went camping once by myself in my minivan. It was super fun!
Yes! Converting my old crv into a Camp-Ready Vehicle this summer!
@@dizzysdoings Yes! I have an app called Dyrt that I use to scope out campsites looking for free/cheap 🤗
Camping has changed a lot from when I was a kid. It used to be a cheap, family vacation.
We have a few campgrounds and a state park around here. Some of them won't allow a tent, not sure what they'd say about me sleeping in the back of my truck.
Plus, most of them cost MORE per night than I spent on a motel room on a recent road trip.
Got held up in traffic, so I spent the night at a Red Roof Inn. It was pet friendly and the room was really nice.
@@dizzysdoings Crazy! Here in NY, there are state parks EVERYWHERE! $22 a night :) Tents welcome!
Hi Sara, I love your videos! I learn so much from you! I have a question! Could you help me in finding a you tube video about paperwork and how long you keep the documents. I’m talking about how long do you keep credit card statements, insurance statements(car), Comcast statements, utility statements and taxes? Nobody ever answers this question for me. I would truly appreciate your expertise on this matter! I would appreciate any help you can give me. Thank you in advance!🙏🙏
Hmm. Let me think on this one!
Most things can be accessed online, like bank statements.
Things like tax returns, etc should be kept for 7 years.
I keep my utility and Comcast statements once the company shows that my payment was received for that specific month, and once you receive the next months bill verifying that the payment was posted to your account and there is no balance for that month. I hope this makes sense.
the only documents I keep a hard copy of are ones that would be impossible to obtain online or in person. Which at the moment I cannot think of anything that cannot be, if you file your taxes online, scan your documents to the cloud. I live in Florida, and have seen many people lose everything to hurricanes or fires.. so I learned to scan documents that I thought would be difficult to replace and upload them to the google cloud, which is free. I have some in my tiny safe, that would be easily accessible for my son to have some sort of reference point when I die. Technology has made it so much easier to be a minimalist!!!
My husband and i are in sync with our finances. This is the reason i could retire at 56. I would love a video on what you think of "no spend" challenges? I see the trend is leaning toward no spend years. Do you think it's sustainable?
Congratulations!! Great accomplishment. I do have a few older videos on no spend challenges. I think it’s motivating and fun to “gamify” not spending money for a clear purpose.
@@saraconklinfrozenpennies ill go back and look! Thank you!
Great tips!
Appreciate this video!
Thanks so much!
Really good video! Thanks.
Thanks and thanks for watching!
Wonderful!
Many thanks!
Irritatingly, here in the UK car parks have started to be 'Card Only'. I always budget with cash! Similarily many supermarkets have 'Card only' checkouts. Sometimes, these are the only ones open as well! Of course i like to pay cash again!
That is very annoying. I agree!
Great tips❤
Thank you!!
My friends call me Nettie Green 👍
I wish I made 100K. I do almost everything I can to save and make it on 39K. No hate good for them. Having higher income and side hustle makes a huge difference
I love how she said they only make 100 thousand dollars which isn't much by today's standards. Try doing what they are doing living off of 30 thousand a year then I would be impressed.
Thanks for the feedback.
She said they were self made millionaires. You probably couldn't do it on anything less. However, you could live better on a smaller income using these ideas.
Lol, that's what I was thinking. And I am fine with the idea of paying cash for a trailer, but around here (in trailer making area), renting them out for that much is ridiculous. You would have to own a trailer park, and even trailer parks renting new trailers in high dollar areas only get 1100 dollars a month including lot rent (and lit rent in mine is 601 a month).
I bought mine from an estate on December 29th for 5700 dollars because they didn't want it to go to another tax year. It was worth over 16k dollars at about 8 years old.
That couple sounds so much like my husband and me.
The older I get the more I'm appreciating good health for all kinds of reasons, including the awesome economy of it!
YES! Me, too!
I came across your channel about a month ago. I sub. I am watching from JOHANNESBURG, SOUTH AFRICA 🇿🇦
Thanks so much for watching!
Please remember to get things marked below prices
100% agree!
Invest as much as possible out of your paycheck. Don’t start low and think you will gradually increase the amount. Do the opposite. Start high and then you can cut back if you truly decide you need to eat. I always invested as much as I could and found other ways to live off the rest. Try investing 15% or higher and not just 2%. Track your net worth. That is better than creating a budget. You will find that you really can live on less once you start to see your assets grow. I watch so many of these “frugal” influencers who rationalize spending money on useless things like the latest kitchen gadgets.
Such smart advice!
❤❤❤😮😮😮😮😅😅😅 Great job Sarah
Thanks Wanda and thanks for watching. 😊
What is concidered a small house?
Gosh, that really does depennd on where you live. For us, here in our town...its under 1200 square feet
Fun to watch, good overall advice, and love your channel but as a poor single woman, this couple's lifestyle still seems partly, just partly, wasteful not because of what they spend money on but because of what they don't spend money on. They should be using their resources to consider expat life and learn other languages if they only speak English. Travel in order to find escape real estate around the world and money diversified outside the US. And stop eating all that sugar, a recipe for in insulin resistance, inflammatory conditions, diabetes and Alzheimer's (especially), look at, well you know, aged politicians, they're millionaires but.... What do you do when the power goes out if you're sick, that credit card isn't going to work if you lost a phone connection/internet, and if it's a natural disaster, you're hired help is going to go back to their own family. I was surprised when my therapist said her family stashes up on bullion. Basically if you haven't planned for end of life and you're over 55, you need a strong chain of human support system including outside the US. I know because that's how my family survived WWII.
PENSIONS AND 401KS WILL BECOME JUNK
What?!? Why would you believe this?
@@saraconklinfrozenpennies look at prices...they will not be going down...too much money printing...and that won't stop with war
Pray and prep
Ahhh...couldn't handle the truth...reply deleted
The great taking(book) on how they will do this
😂😂😂😂😂😂
Are you going to say they never argue or go to bed mad. 😂
Good for them! I am NOT wired that way.
AT 51 we have absolutely zero debt and through out our lives we only bought 4 new cars and I get her handy me down used cars and I always work on our cars. We paid off our first house we first bought. At 57 when our kids finish their 4 year degrees (I am an emigrant and a high school drop out) we will have their tuitions paid and we will retire. Current net is $1.6M.
counting we “live” till 90 our net at 57 if you count the guaranteed pension, SS, and investmentss our net would be north of $5M.
It will keep growing because we always live on half of what we made. Our goal is to figure out how not to leave a tax problem to our kids and hopefully grand kidsssssssss.
LOL! That's pretty funny. I would bet they've had their share of "discussions"! Congratulations to you! Sounds like you are ROCKSTAR material!