7 Money Management Tips For Anybody Feeling Trapped In Life
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- čas přidán 17. 09. 2023
- If you are feeling financially trapped in life, here are 7 money management tips to get in a better situation.
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Money has this amazing power to trap people in life and make them feel hopeless. However, regardless of how hopeless your situation feels, I believe if you set your mind to something, you can achieve it. In this video, I share 7 money management tips for anybody feeling financially trapped in life.
1. Deprive Yourself Until You Have Some Stability
The truth about many people's situation is that the only way they can get in a better financial situation is if they spend a year or two depriving themselves and solely focus on getting in a better situation. Deprivation, however, should not be viewed as a bad thing but as tool to speed up the process to get in a better situation. If you spend 1 to 2 years going full force to get in a better financial situation, you can spend the rest of your life not held down by money.
2. Hustle Hard Until You Have Some Stability
Another truth is that if you want to get in a better financial situation, you will also have to spend 1 to 2 years hustling hard to make more money to get in a better financial situation. Just like depriving yourself, hustling should not be viewed as a bad thing, but as a tool to speed up the process. If you hustle to get in a better situation, you can spend the rest of your life not held down by money.
3. Know That These Extreme Changes Are Just Temporary
Many people choose not to make decisions that lower their quality of life because they view it as permanent changes; however, these extreme changes you make are just temporary. It is important to know that when you choose to make drastic changes to get in a better financial situation, that eventually you can go back to enjoying the things you enjoy without the financial burdens attached.
4. Sit Down And Make A Plan
Many people who are in a bad financial situation choose to not create a plan because they feel as if they are hopeless and it is a waste of time; however, it is impossible to get in a better situation unless you create a plan. When you create a plan you have a guide on how you are going to get in a better financial situation. Don't let your bad situation be an excuse for not taking action.
5. If Your Plan Isn’t Working, Examine Your Plan
Some people create financial plans and when their plan isn't working, they just continue on thinking that it'll eventually get change; however, if your plan isn't working, you should sit down and examine exactly why that is. In the video below, I explain exactly how to do that.
Budgeting For Beginners: • Budgeting For Beginner...
6. Only Focus On The Things You Can Control
When it comes to personal finances, many people default as a victim and focus on all the things that are out of the control; however, doing that is a complete waste of time. It is important to focus on the things you can control like how much money you're spending, how much money you're making, and how you can get in a better situation. That is a much more productive strategy.
7. Hope Dies Last
No matter how bad your situation is, it is important to never lose hope. As long as you live with hope in life, you will eventually reach your goal and get to a better place, so never give up!
**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. ** - Jak na to + styl
What's a decision you need to make to get in a better financial situation?
I think working out is incredibly important. It's a foundational block for so many other parts of your life, including finances. Prior to working out, I was sitting all day, all night and then trying to justify my incredibly stressful job through spending money. Rinse and repeat. I started working out every day, which led me to improve my diet and eat less and not eat out, which led me to feel content and not need to spend frivolously. IMO, working out is the single most important thing one can do to get out of a hole. And I should add, many good home exercises are free and very effective with minimal setup required.
stop being covered for 50 000 $ of material and save 25$ of insurrance fees per month, this way i can use theses funds myself to purchase again my stolen objects without negociating with the insurrance company, plus keeping for me the profits 😄
Get my home mortgage paid off.
Start making money and live below my means so that I can help my family and others who need it sounds like a good way to be more financially wise.
Giving up my daily cappuccino @ $6 a pop, and switching my comprehensive car insurance which is saving me $20 a month. My goal is creating a $1000 emergency fund ASAP. I also started using your tracker and can see one area where my spending is out of control - groceries. I have now created a weekly food budget.
Remember when buying nothing, is that you will still have the money to buy it later should you still want it. Money is freedom.
🎯 I’m SICK of spending my money with corporations. I dropped my cheap Planet Fitness membership because I was tired of the recycled air, dust bunnies in the corners and dirty mirrors. BUT there’s a family owned Mexican restaurant I adore that does a 5 star job. Keep the money you don’t like spending and find places that give you value and make you feel appreciated when you do splurge. The park is a magical place to exercise. Love your work. I’m inspired to make videos again! 💐
Agreed.. spending money with corporations is like making a deal with the devil. There's always some insidious catch somewhere that leads us racing further to the bottom.
1. Deprive yourself until you have some stability. 1-2 years
2. Work hard until you have some stability
3. Extreme changes are temporary
4. Sit down and make a plan
5. Examine plan if no results
6. Only focus on the things you can control.
7. Hope dies last
Sounds familiar...
@@ElAgustinHmm... I wonder why. 😂
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
Investing in many sources of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
Sure, investing is essential for maintaining your financial stability, but making any kind of legitimate investment without the correct advice of a professional can result in a significant loss as well.
It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
wanted to trade, but | got discouraged with the market price fluctuations~>
Trading under the guidance of a professional is the best strategy for beginners.
I majorly cut back 3 years ago, paid off my car, eliminated all debt and started saving like crazy. It wasn’t easy but was worth it. I sleep better and don’t have anxiety anymore. Best thing I could of done for my mental health and future! It’s nice to see the numbers go up every month and feel so content in what I own already
Videos like this should be part of the high school and junior college curriculum.
If more people had this knowlege, we could take back our power from big corporations and be truly independent.
Stick it to the man!!
Great video I did this for 2.5 years and finished paying off my house. Debt freedom in these uncertain times is a blessing.
This has a certain kind of irony to it. If you do stick with a plan of self-deprivation, after a year you won't want to go back to your old self. You'll just keep living lean except that you'll be enjoying it like playing a sport. You'll be constantly looking for innovative and new ways not to spend money.
Very true I spent 48 years in a miserable marriage because I felt financially trapped. Thank God I finally came to my senses & got out & I wouldn’t go back for all the financial stability in the world!
I did all these thing to get out of 100K in debt in four years. Dave Ramsey's full quote is "Live like no one else so you can live and GIVE like no one else." That was my main goal for getting out of debt. It's really hard to give when you are drowning in debt yourself. Everyone should make this one of the reasons to get of out debt imo. Great video as always!
El Agustin,
Oh my gosh I hope a lot of people listen your advice. I’m going through all the advice you are taking about and finally I am finally getting out of debt and I’m getting on a better place I feel happier than ever, proud at this point I feel like nothing can stop me for this amazing journey.
Thank you! For tha CZcams video’s I learned more in the 10 minutes of the videos than I ever did learn in most of my life 😅, if you wonder I’m in my 50’s .
Thanks!!!
Absolutely love the video it's a million per cent true for me. Last year I hit 67, I came out of a 22 year abusive relationship with no savings, a mortgage, and credit card debt. I secured a well paying job working from home, cut my expenses to a minimum, concentrated on paying off my mortgage and credit cards with a plan to retire in March 2024 withsomething. As I write I've paid my mortgage and credit cards (now debt free), and majority of my earnings are going into savings. Will I have a huge fortune to retire? No but I have learned to be happy and manage on far less. Every day I get up to start working I am hating it as I realise the most important thing for me is my time, so many things I want to do, but I will not give in now, counting down the weeks to utter freedom. If I can do it anyone can as I never thought I could be this controlled. Thank you again your videos have been a huge wake up call for me.
That's really great!! Thanks for sharing!
So true - two years of hustling to change your financial projection is what dave Ramsey calls baby steps 1-3. Getting out of debt and having an emergency fund changes financial projection.
I was In the service for 7 years and obviously wasn’t making good money..
I got out and started making 150k which was 4x the amount I was making in the service. But still felt like I was living paycheck to paycheck.
I sat down with my wife and had a real talk. We were going out to eat every week.. shopping on Amazon all the time. Just blowing money.
Then we started living way below our means. And life has changed for us. I’m obsessed with saving now and still extremely happy in life. And now I’m on track to retire for good around the age of 46-48. I’m currently 27 years old and until I’m retired I will continue to live this way. All you need is consistency
That is practically Dave Ramsey’s catch cry, and always includes, AND GIVE like no one else. I started using your tracker a couple of days ago 🙏 Another great video, thank you. The singing was a nice element 😂
I’ve worked three jobs for three years. First year I paid off My student loan, second year I saved to buy a house (low interest 1% mortgage to live cheaper than renting) and third year growing My savings. Not stopping yet, however I only work two jobs Now. Very much worth it. Have not had a television in 5+ years, only free streaming on a tablet few hours a week, low or no spend everything - only exception is a 7 day hiking trip in the Alps every summer and splurge on a Big family dinner once a week. Everything Can become a habit. Key is focusing on gratitude, controlling your gratification and seing it as a Challenge.
This needed to be said out loud, thank you Austin
THANK YOU for Sharing such
An Inspirational
Wise,
Interesting
Prudent Advice Practical/Doable
Lesson 🙏
You are ALWAYS Trying to help steer folks to shift their paradigm of thoughts into thinking for themselves
i.e.
about how to 'think
+ execute prudent plans'
wisely for a happy healthy sustainable better future ...
Indeed,
You are A Great Teacher!!!
You Are An Asset to Tis World Amen🙏
You Are Helping Millions of Struggling Folks to shift their paradigm of thoughts + To execute practical/ doable plans for A Happy Healthy Wise Living
in "tis present material world' !!!🙏🙏🙏
THANK YOU...
Sending Good Karma, Metta,
Blessings To You
Always🙏👍👏🤗❤️
I appreciate it!!
Thanks for sharing. This saved my life. My future self are thanking you for creating this video
I always spent all the money that I had. I don’t even know why, it just seemed like it’s what everyone does so I did too.
It was painful, but I downloaded my bank statements for the last year and did an analysis. It was shocking to see how much was going to Amazon, eating out , etc. I decided to cut out recreational spending, and work hard on minimizing spending as much as possible. It’s been kind of a slow start, but I’ve been making progress on paying debts, and building a little emergency fund. Even having that little bit of extra cushion is starting to calm down my anxiety.
To be honest, buying all that stuff never even made me feel good, I thought I was “treating” myself, but it was just stressing me out. I feel more calm and centered, not deprived like I was afraid of.
I include a small discretionary budget so I can get a latte here and there, but it’s a tiny fraction of what I used to spend and I’m happy with it.
Wow what a great video, thank you sm .👏🏾👏🏾
Gracias! Gracias! Gracias! Buen trabajo Agustín!!!❤
Thank you Austin. You've helped bring some clarity into my situation. You've inspired me to follow through with using my CDL. As much as the massive lifestyle change terrifies me, it's temporary; and soon I can go back to enjoying the things I'm so scared to go without - debt free. I hope you're right, and that my future self with thank me and say that this is worth it; because it's for sure going to be a hustle! Pray for my safe travels around the west coast.
I really love your personality and outlook on life. I have very similar feelings about the world and money, but you can put those feelings and thoughts together so well in your videos!
Thanks man! Yor video really built me up!!
Awesome content Austin! I enjoy listening to you talk , give advice and sing!The end to this video-priceless!!!
Make that change!
Thanks for these tips man. These are eye openers.
Amen, Agustin! I love all these ideas especially the first one - deprivation to achieve financial stability. I believe it is the one way for me to be able to achieve my goal of buying my own house 🏡
Your video becoming my daily lecture 😎👍🙏thank you. Please keep posting, our society need you
Just wait for the tide to turn. After a while you will see that your are not sacrificing when you were not spending. You sacrifice when you spend on junk.
Love it, Austin!!!
Thanks for these tips man. These are eye openers. 💯💯💯
I'm here for you!
Hey Austin. Your videos are great. They even calm me down. There is always room for a new perspective in life :) Cheers
Glad to hear! Hopefully my Southern slow way of talking isn't too slow for you!
Wow! This was an epic video.
This vid is so crazy smart and beneficial. Thanks for sharing your wisdom!
Thanks for watching!
Hope dies last indeed it does!! And I’ve lost everything and gained everything but I always had hope to see me through!, that fire just burns, thanks for saying it again in means everything to me at this time!! 😎🙏🏼
It's important!
Good message Austin.
Well explained.
Thank you as always, Austin.
Thanks!
Preach brother 🙌 🎵!
👋 excellent video & wisdom as always x
Thanks!
Thank you for this information.
Thanks for watching!
What a neat ending! “Make that change”, you sound just like Michael! Thank you for sharing your wisdom🎉
hehe
Thank you!😊
Thanks for watching!
Hello Austin, Really great video. May I suggest that number 4, make a plan, become number 1. It gives a clear sense of direction. I would also suggest that within that plan you have milestones (that way you can properly apply number 5) and celebrations. BTW, I love number 6 and number 7!!!! Have a wonderful week.
Thanks for the suggestion!!
Hi funny guy! Keeping me laughing 😂 another great video, you always have something new to say, thanks!
When you're trying to pay the bills, you always find something new to say!
I found Dave Ramsey about 15 years ago but I was in my early 50's by then. I am proud to say I am debt free today because of him and his teaching about money. Im now in my late 60's and doing very well, but I can help but wish I had found this way of life in my youth. I can't imagine what my net worth could have been. Love your videos and your message.
Thank you Austin
Thank you!
So true. You are smart!!!
You're smart!
Yes to giving hope to everyone here, Agustin.
Very inspiring, Austin!
Just trying to make you proud!
Love these ! Hope dies last !
Greetings from Austria 😊
guten tag!
Yoooooooooo… the Michael Jackson quote got me at the end. Hee! Hee! I just can’t stop laughing. 😅
I thought it was funny too!
Thank you
This is extremely helpful. Thank you
I'm glad!
I'm wondering if I'm addicted to shopping - getting a dopamine hit anyway. So, I guess I need to get a dopamine hit from some other reward.
Exercise, declutter, save money or pay off debt and watch the progress, get a hobby. Lots of ways.
Your videos are golden 😊
Thanks!!
Thanks!
WOW!!! YOU'RE TOO KIND!!
de nada!@@ElAgustin
I ❤ your content 😊
Thanks for watching!
I ❤ your videos Austin
Thanks for always watching and commenting!
Hope dies last… thank u for a good band name :)
It would be a band you'd mosh to!
You're the best ❤
You're the best!
My life didn't magically just "get better" when I paid off all my debt and landed a $100k+ a year job. I still feel like I'm not living life to the best I could, honestly. I have tens of thousands in the bank and own my house outright. I want for nothing after years of hard work, but I'm lonely, and really wish I had someone in my life.
You need enjoying yourself, your " solitude", practice meditation and yoga. Find happiness in your own self, love yourself, be tottally independent from anyone. Don't be a needy person. I know, ALL of that is easy sad than done, but if i could do that, and i am happy by myself, everybody can too.
There are lots of podcasts out there dealing with loneliness. Try one of those.
Congratulations on your financial success.
I agree. But don’t settle. You deserve the best companion for YOU. You can be unbelievably lonely in a bad relationship.
There is an app called “Plenty of Fish.” You should be able to meet someone on there.
@@GrannyLinn agreed, hence I've been single since 2012. I'm just too different than most everyone else.
overtime is in abundance in the winter
Hi Agustin! Love your content! Wondering if you have any ideas on how to pass your anxious time in between saving a tiny 40$ a month..(its the beginning... Again...). And waiting for the next month... And the next.. It is so long and tormenting.... Any ideas?
Get out in nature and do things that are free and make you happy! 👍🏼😉
I would like to use your spreadsheet, I am fairly computer illiterate 😅 Is there a way to save it to my Microsoft desktop for easier use? Thank you!
I would like to try your spreadsheet, I am fairly computer illiterate 😅 Is there a way I can save it to my Microsoft desktop for easier use? Thank you.
Saving money is the only no risk investment.
Hey Austin Sir , really nice video! I was wondering if I could help you edit your videos and also make a highly engaging Thumbnail which will help your video to reach to a wider audience .
Bro the end got me 😂
This video was absolutely necessary!!!!! Three months ago I committed myself to two years of not buying me any new clothes unless it was themed related for something. (E.g. Halloweenk). It is time to hunker down and get things accomplished financially.
Yeah !! With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate . Just my thoughts
Traders should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional
Wow, that's stirring! Do you mind connecting me to your advisor please. I desperately need one to diversify my portfolio
William G Berkman
Quality predictions always. Really helped trading with William G Berkman analysis and services, even with the market in a downward trend. Definitely riding the market wave is a good perspective.
How can I get in contact with him, please?
Wants vs needs. But i struggle wid it
Mj.. "Make that change "
Like : Focus on things you can control!
Thanks for your thoughts. I’m curious why at the beginning you mention 1-2 years? What are your specific thoughts about what you should be doing in those 1-2 years and how specifically does that change the bigger picture? Thanks
Maybe that’s an average time it takes normal people to dig out. It took me 5, but I had really been a spoiled brat. 😼
There's no exact length since everyone's situation is different, but I think it's just a metphor for "a long time." It's not going to happen quickly
@@ElAgustin it’s tough to tell someone to do something difficult for 2 years but not specify exactly why or how it’s going to allow them to have an easier run in going forward. It’s too vague for me…. It would perhaps be better to have someone save 20% of their income for 2 years or generate 50k over 2 years etc and then know that if continued for a further period of time eg 5 years, they can then leave that money to grow while they spend more for the rest of their career…. Or something a bit more concrete etc
Good advice 👍
Ps. Your plant on the right looks like fish.
I invested in NVIDIA since 2014. Right now I'm spending my profits.
Thank you 😞I was feeling hopeless the other day. Barely getting hours from my job and now I’m still struggling financially. I think I’m going to start making these art pieces that I can sell once I create it. It won’t be the amount I need for rent but I should still do it, right?
Also, get another or additional job and do your art pieces also. All hands on deck to pull yourself out. Like he said, sacrifice for a year or two and make it happen for yourself.
If you can make a little extra money doing something you enjoy, why not? People value art. I've bought many art pieces of Facebook marketplace.
Mr Austin Williams,
Thanks for great 👍👍👍 videos
I am from the East World 🌎. We are enjoying your healthy saving videos
The Best Lifestyle channel
on CZcams.
Excellent content.
Excellent presentation
Easy ready to apply solutions.
Thanks Austin.
From Communist Australia 🇦🇺 🦘🦘
I always say i dont want to fund Mr/Mrs X sitting on their yacht. I want to sit on my yacht! It makes me laugh but really it reminds me to use my money to benefit myself (or others) not big corporations buying into a lifestyle im told i should want! 😂
Austin
Make that change…. Hee Hee 😂😂😂😂😂😂✅
Start with the man or woman in the mirror!
I have skipped vacation for 12 years, I am still in austerity 😢
It's amazing how much I want to worship your feet.
Currently I’m saving and minimizing my expenses so I could buy these breast I seen in the window. I’ve been saving for a little while so wish me luck
I really need to quit smoking premium cigars. It’s $600/month on average and yet it’s my only “hobby.”
Is it mean or does it seem like money has taken the place of religion?
Some believe they are one in the same.
If you support religion, you often get rewarded financially. I'm not understanding your question. Job stuck to his beliefs despite losing everything. He defended his faith despite people telling him to turn his back on God. God rewarded him many times over. So, again, explain. Greedy will get you nothing. Patience gets you everything.
@@danicegewiss862 There are a lot of greedy folks that die wealthy. And there are a lot of non religious folks that are very generous and give from the heart.
I wish, I was younger.
Since I read this comment I learned from other people's mistakes rather than waiting for myself to take the same situation. I am 34 and became smarter and smarter when comes handling financials. I don't care what people says I won't even follow the norms of my office mates. Buying expensive coffees and having night life after office. I am starting living frugal since the pandemic.
#6 Only focus on the things you can control 😊
10 years from now you'll wish you were your age now!!!
Be happy with your age. I'm 58 and have made many mistakes. When is the best time to plant a tree? 20 years ago. The next best time? Right now.
@@danicegewiss862 I'm 53 an basically starting over. It can be done. You are only "too old" when you physically cant do it anymore.
Eh, regarding my future self thinking particular sacrifices my current self is making are worth it -- well sure, that bozo isn't the one doing it! It's easy for him to sit there with 20 years or so distance from it saying, "oh yeah, totally worth it."
i'm not looking for financial stability, i'm looking for kids school education, bigger appartment for baby room, baby bed, baby clothes 😂
stuff that can prevent your kid to have a decent education if you don't prepare it years before having one 😂
🧔😤☝️👃
😂
1. Deprive yourself until you have some stability. 1-2 years
2. Work hard until you have some stability
3. Extreme changes are temporary
4. Sit down and make a plan
5. Examine plan if no results
6. Only focus on the things you can control.
7. Hope dies last
I would like to try your spreadsheet, I am fairly computer illiterate 😅 Is there a way I can save it to my Microsoft desktop for easier use? Thank you.