My my my! So much great information share in this video. Here are just a few practices that I wish I had applied when I was younger. 1. Don't co-sign. 2. Don't quit your job to start a new company unless you have at least 5 years of sustainable income to cover your living expenses. 3. Credit cards are not fun money. 4. Tax returns are not fun money. 5. Late payments of a minimum of 5 days can affect your credit rating over time. 6. Value your checking account. Avoid overdrafts. 7. When building credit, buy what you need, not what you want. 8. Learn and monitor my credit report. 9. Don't be in denial about your finances. 10. Create a vision board. Set goals to be debt FREE of BIG purchases - like cars and houses. Commit to your PLAN!
Love your videos! 10 years ago I was 16. I wish I would saved more of my pay checks instead of shopping! But at 22 I found Dave Ramsey and Debt free now at 26 so blessed!! My families family tree will be forever changed!
Wow! I'm 25 and I just started trying to become debt free. Have you thought about sharing your journey? So many ppl in our age group are bound by debt and think it's impossible to tackle it.
+Ebonee Horn Yes I've thought of sharing my story and think I am going to sit down and shoot a video. I think the fact that you are 25 and starting is amazing. I think beginning at any age is great because debt has a hold on so many people. My tips are to do a budget for every penny. It gives you so much freedom and makes you intentional. Secondly is being content. Not focusing on what everyone has. At our age it's hard because you see people with nice homes and getting new cars and fancy weddings. Some can afford it, but most of those thing are tangled up in debt. I pray for this A LOT because you work hard and think you deserve it. Then comes sacrifice. You give up stuff now so you can better later. Lastly is to tithe/give. Seeing the blessings God gives when you are a good steward and faithful to Him and give Him his is amazing. When you manage a little, he gives you more. Hope those help and I pray that you become debt free soon. The feeling is the best!
Woohoo!!!! That is awesome. We would love to have you on our His and Her Money show. If you are interested send us a message. Our contact info is in our bio or on our website. Great job!
I can't get enough of you all. Thanks so much for sharing. You're the best youtube channel I follow. Ten years ago my finances were ridiculous. I was working in child care and living not even paycheck to paycheck. I was robbing Peter to pay Paul big time. I wasn't living above my means either, I was just poor - I mean po. The big blessings were I ate food at the school, my vehicle was paid off and my rent was very inexpensive. I decided to go to community college and now I'm finally getting my walking legs. I have no credit card debt and I have a few months left on my car, which I'm trying to off before Xmas. My biggest waste of money, up until 3 months ago, was going towards eating out. Praise the Lord I have been transitioning well and I've built my $1000 emergency fund. Actually rebuilt because my vehicle broke down and I had to rent a car for a week and pay for repairs not covered by the warranty. So now my emergency fund is up again, I'm throwing every dime towards paying off the car. I have a long way to go but I'm praying for strength to be consistent and I have no emergencies.
This is so great! I have paid off 3 or 4 cars over the course of my life and I loved that no car note blessing. Great job and continued blessings! Cathryn
Ten years ago...I would have never gone to college. The student loan debts and credit card debt I incurred and paid off by working two jobs for seven years did nothing for my career. I don't even work in the field I studied. If I could do it all over again, I would have worked full time, maybe two jobs from age 17-24, stayed at home and bought nothing until I was able to buy a house in cash. Then would do it again until I owned 3 houses outright and lived off the rental income. I am now 34, my house is paid off and worth $700k and I have $70k saved towards my second house goal. I have never made more than $20 an hour.
felt chills just reading your testimonial.Am just starting mine now and cant wait to start seeing the loads going down.I believe its worth it.Will keep watching these testimonies to keep me going.Having multiple streams of imcome is def speeding things.God is my strength.
I wish I would never have gotten a student loan. Because 10 years later, I'm still paying that mug off. But thank God for Dave Ramsey and Financial Peace University.
10 years ago I was 23 and my husband was 26 5 years into our marriage and just recently bought a home. I wish we had known how to be more patient in purchases for our new home. Instead of being quick to fill our home with all nice new things we should have taken our time to purchase by saving and decorating one room at a time. We learned our lesson the hard way but excited about our new way of thinking. You guys are the best and keep the videos coming!
My one thing I wished I would have remembered 10 years ago are the principles taught in the Millionaire Next Door. I'm widowed and would have made better financial decisions with the concepts taught in that book. One thing I will tell those who are starting out: make sure both spouses in the marriage have some form of education (trade or college) in case something happens. I graduated with my bachelors degree just eight months before my husband unexpectedly passed away.
Another powerful video! Your a great tag-team! one thing I wish I would have learned 10 years ago was the rule of thumb of paying yourself . The Richest Man in Babylon authored by George Clayson gives in depth advice about finances and he mentions that one. should pay themselves first.Of course we know God comes first in all areas and aspects of life so it should be that we pay ourselves second then all others. I just think it's interesting and wise because we easily get into the habit of being more concerned about other people and other things more than ourselves. if we don't take care of ourselves we can't take care of anyone else bills family etc..
So glad you guys were able to complete the tag!! I can so relate about the value of teamwork. My husband and I just celebrated 12 years of marriage but have only just gotten on the same page financially in the past year.
I do use a credit card as well but I go online and pay it off at the end of the day. I know its tedious but it does keep me on track on how much money I have and not going over my budget each month :)
10 years ago I was 15, and my parents always stressed saving but never explained why it was so important. I also wish I had known how important credit is, and how important it is to pay all my bills, on time, and paid off, and how that effects my credit. but I can't blame my parents because they had no idea how that worked. I also wish I had known about Dave Ramsey, early in my relationship, my husband and I lived with my parents rent-free for 2 years, and when we moved, we basically had nothing to show for it... We could've easily had 80,000 saved since he worked full-time and I was a part-time worker and student... Ahh well, you live and you learn, right?
Wow,never to give out money you dont have to loan out........I lost alot of family and friends behind this,Iam a giving guy,i trusted everyone,,,,,,,,,,,this has made me a bitter betty,I need help now,and i need that loaning money,,,,,,,,,,,will never make that move again,,,,,God has me
I wish I had start savings for retirement..! Shoo...! I wish i started saving...PERIOD..! MY DAD.. always use to tell me save a little, because a little goes a long way.
Hey guys!!! I just heard about you two and you two are awesome!!! My girlfriend and I are planning a wedding and don't know how much to budget. Could you pls give us some tips on not getting into debt? Wedding is in 6-7 months
Hello love youre tips I did write before never got an answer to this question I prefer debit cards instead of envelopes regarding your 13 bank accounts how do you do it???remember in the envelope system you have cash in each envelope with no bank fees versus the bank..banks charge fees for everything daily balance min monthly fees maint fees and if theres no direct deposit fees are charge how do you do 13 BANK ACCOUNTS WITHOUT ANY BANK FEES..??Thank you..
BMO bank of Montreal offers 19 free bank accounts as a bonus for opening one chequing account with them, most of there accounts comes with this bonus but you have to ask for this they don't always tell you, also there is a few ways to avoid monthly fees with most banks some offer you free monthly plan if you put $25 a month towards tax free savings account, some offer free monthly fee if you have at least $2000 or $3000 in your chequing account every month.If they have unlimited chequing accounts with fees waived they can use all those chequing accounts including the main as many times as they want for free because the unlimited cheque give them unlimited transactions for all accounts.
This is an awesome video! Question: Why is it more important to apply extra income to paying off debt rather than investing? I was doing just that but someone recently told me that investing additional funds is the smarter move! I'm confused.
The way I feel about credit cards is this: If someone is an alcoholic and can't control themselves, they don't need to be around it at all. Same with cards, in our case anyway...we can't control ourselves, we lie to ourselves and say we'll pay it off, something comes up, we don't pay it off, balance carries on...we don't need ANY cards right now! What I have found more useful is a store credit card. They don't have as good of benefits, but at least you can only use it at that certain store.
The idea is to get life insurance in place while you are still insurable. There is no way of knowing if you will be declined for health insurance unless you apply for it. Hope this helps. Thanks for watching!
keep at least one constant stream of income (I was a job hopper )have multiple streams of income as stated.save,invest, start paying debt sooner,finish school (in nursing)to double or triple my income..THANKS GUYS YOU'RE AWESOME!!
I wish that I would have spoke and thought more positively about money. I wish that I would have invested my son child support... Be on the lookout for my videos "Don't blow your child support check"
there is nothing dumb about having a mortgage if you are making more money investing. i would equate paying off a mortgage instead of investing to getting a big tax return because you over paid. its not what most millionaires do. it safe but hardly ideal. ask most millionaires if they would borrow money at 3.5% so they could invest it, hell yeah they would.
I agree that credit cards are not evil. I also pay mine off in full every month. That's the catch. If you don't do that you'll get caught up. Credit cards are necessary for travel and for emergencies like a flat tire change when you don't have the cash on you.
My my my! So much great information share in this video. Here are just a few practices that I wish I had applied when I was younger.
1. Don't co-sign.
2. Don't quit your job to start a new company unless you have at least 5 years of sustainable income to cover your living expenses.
3. Credit cards are not fun money.
4. Tax returns are not fun money.
5. Late payments of a minimum of 5 days can affect your credit rating over time.
6. Value your checking account. Avoid overdrafts.
7. When building credit, buy what you need, not what you want.
8. Learn and monitor my credit report.
9. Don't be in denial about your finances.
10. Create a vision board. Set goals to be debt FREE of BIG purchases - like cars and houses. Commit to your PLAN!
Those are good ones! Thanks for sharing! P.S. I love your channel too. ;)
AMATEUR DECORATING LIKE A PRO 5 years? damn dumbads
Love your videos! 10 years ago I was 16. I wish I would saved more of my pay checks instead of shopping! But at 22 I found Dave Ramsey and Debt free now at 26 so blessed!! My families family tree will be forever changed!
Congratulations! 👏👏👏
Wow! I'm 25 and I just started trying to become debt free. Have you thought about sharing your journey? So many ppl in our age group are bound by debt and think it's impossible to tackle it.
+Ebonee Horn Yes I've thought of sharing my story and think I am going to sit down and shoot a video. I think the fact that you are 25 and starting is amazing. I think beginning at any age is great because debt has a hold on so many people. My tips are to do a budget for every penny. It gives you so much freedom and makes you intentional. Secondly is being content. Not focusing on what everyone has. At our age it's hard because you see people with nice homes and getting new cars and fancy weddings. Some can afford it, but most of those thing are tangled up in debt. I pray for this A LOT because you work hard and think you deserve it. Then comes sacrifice. You give up stuff now so you can better later. Lastly is to tithe/give. Seeing the blessings God gives when you are a good steward and faithful to Him and give Him his is amazing. When you manage a little, he gives you more. Hope those help and I pray that you become debt free soon. The feeling is the best!
Woohoo!!!! That is awesome. We would love to have you on our His and Her Money show. If you are interested send us a message. Our contact info is in our bio or on our website. Great job!
Brittany Monique- Unique Life I hope you make an appearance on the His and Her Money Show! You have such wisdom. Cathryn
I can't get enough of you all. Thanks so much for sharing. You're the best youtube channel I follow. Ten years ago my finances were ridiculous. I was working in child care and living not even paycheck to paycheck. I was robbing Peter to pay Paul big time. I wasn't living above my means either, I was just poor - I mean po. The big blessings were I ate food at the school, my vehicle was paid off and my rent was very inexpensive. I decided to go to community college and now I'm finally getting my walking legs. I have no credit card debt and I have a few months left on my car, which I'm trying to off before Xmas. My biggest waste of money, up until 3 months ago, was going towards eating out. Praise the Lord I have been transitioning well and I've built my $1000 emergency fund. Actually rebuilt because my vehicle broke down and I had to rent a car for a week and pay for repairs not covered by the warranty. So now my emergency fund is up again, I'm throwing every dime towards paying off the car. I have a long way to go but I'm praying for strength to be consistent and I have no emergencies.
Awesome! You are doing great. Keep up the great work. Thank you so much for your support and kind words.
This is so great! I have paid off 3 or 4 cars over the course of my life and I loved that no car note blessing. Great job and continued blessings! Cathryn
Ten years ago...I would have never gone to college. The student loan debts and credit card debt I incurred and paid off by working two jobs for seven years did nothing for my career. I don't even work in the field I studied. If I could do it all over again, I would have worked full time, maybe two jobs from age 17-24, stayed at home and bought nothing until I was able to buy a house in cash. Then would do it again until I owned 3 houses outright and lived off the rental income. I am now 34, my house is paid off and worth $700k and I have $70k saved towards my second house goal. I have never made more than $20 an hour.
That's amazing
I'm late, but your story is very inspiring. It really resonated with me. Much success.
Prepper Princess dam how is this possible. 700 paid off home by 34 whilst making 20 or less an hour.
Prepper Princess I 100% agree with about you about your 10 years ago.
felt chills just reading your testimonial.Am just starting mine now and cant wait to start seeing the loads going down.I believe its worth it.Will keep watching these testimonies to keep me going.Having multiple streams of imcome is def speeding things.God is my strength.
I wish I would never have gotten a student loan. Because 10 years later, I'm still paying that mug off. But thank God for Dave Ramsey and Financial Peace University.
Never cosign for another person unless you can handle the consequences. Wish I had known that.
10 years ago I was 23 and my husband was 26 5 years into our marriage and just recently bought a home. I wish we had known how to be more patient in purchases for our new home. Instead of being quick to fill our home with all nice new things we should have taken our time to purchase by saving and decorating one room at a time. We learned our lesson the hard way but excited about our new way of thinking. You guys are the best and keep the videos coming!
My one thing I wished I would have remembered 10 years ago are the principles taught in the Millionaire Next Door. I'm widowed and would have made better financial decisions with the concepts taught in that book. One thing I will tell those who are starting out: make sure both spouses in the marriage have some form of education (trade or college) in case something happens. I graduated with my bachelors degree just eight months before my husband unexpectedly passed away.
Thank you so much for sharing your experience. Sorry to hear about the sudden loss of your husband. Praying for you and your family.
Another powerful video! Your a great tag-team! one thing I wish I would have learned 10 years ago was the rule of thumb of paying yourself . The Richest Man in Babylon authored by George Clayson gives in depth advice about finances and he mentions that one. should pay themselves first.Of course we know God comes first in all areas and aspects of life so it should be that we pay ourselves second then all others. I just think it's interesting and wise because we easily get into the habit of being more concerned about other people and other things more than ourselves. if we don't take care of ourselves we can't take care of anyone else bills family etc..
So glad you guys were able to complete the tag!! I can so relate about the value of teamwork. My husband and I just celebrated 12 years of marriage but have only just gotten on the same page financially in the past year.
Thanks so much for the invite! Teamwork definitely makes the dream work! We are praying for your baby and family.
I do use a credit card as well but I go online and pay it off at the end of the day. I know its tedious but it does keep me on track on how much money I have and not going over my budget each month :)
So many of these I can relate to. Life Insurance is so important all these gofund me accounts prove it.
Yessssss!!!! We say this all of the time. Thanks so much for watching.
Good point!
10 years ago I was 15, and my parents always stressed saving but never explained why it was so important. I also wish I had known how important credit is, and how important it is to pay all my bills, on time, and paid off, and how that effects my credit. but I can't blame my parents because they had no idea how that worked. I also wish I had known about Dave Ramsey, early in my relationship, my husband and I lived with my parents rent-free for 2 years, and when we moved, we basically had nothing to show for it... We could've easily had 80,000 saved since he worked full-time and I was a part-time worker and student... Ahh well, you live and you learn, right?
Great points guys! Especially not lending money out & SMART hit home for me.
Thank you :)
From Canberra, Australia.
One thing I wish I would of known is credit cards aren't something to play with.
Excellent video! Thank you for sharing.
I wish I had learned that I am responsible for my own money!
Wow,never to give out money you dont have to loan out........I lost alot of family and friends behind this,Iam a giving guy,i trusted everyone,,,,,,,,,,,this has made me a bitter betty,I need help now,and i need that loaning money,,,,,,,,,,,will never make that move again,,,,,God has me
LOL!!! "We gon' flip a house!". That was funny!
LOL! Thanks so much for watching.
I just love y'all so much and wanted to let you know. Subscribed here and on the podcast and your content goes the extra mile.
I wish I had start savings for retirement..! Shoo...! I wish i started saving...PERIOD..! MY DAD.. always use to tell me save a little, because a little goes a long way.
Thank you for the advice! I'm so glad I found your channel.
Hey guys!!! I just heard about you two and you two are awesome!!! My girlfriend and I are planning a wedding and don't know how much to budget. Could you pls give us some tips on not getting into debt? Wedding is in 6-7 months
Great video. Can you do an update on your Erin Condren planner? How is it working for you?
Thanks and will do!
I agree about the multiple streams of income I got 2 1/2 jobs lol
Awesome! Thanks so much for watching.
Hello love youre tips I did write before never got an answer to this question I prefer debit cards instead of envelopes regarding your 13 bank accounts how do you do it???remember in the envelope system you have cash in each envelope with no bank fees versus the bank..banks charge fees for everything daily balance min monthly fees maint fees and if theres no direct deposit fees are charge how do you do 13 BANK ACCOUNTS WITHOUT ANY BANK FEES..??Thank you..
BMO bank of Montreal offers 19 free bank accounts as a bonus for opening one chequing account with them, most of there accounts comes with this bonus but you have to ask for this they don't always tell you, also there is a few ways to avoid monthly fees with most banks some offer you free monthly plan if you put $25 a month towards tax free savings account, some offer free monthly fee if you have at least $2000 or $3000 in your chequing account every month.If they have unlimited chequing accounts with fees waived they can use all those chequing accounts including the main as many times as they want for free because the unlimited cheque give them unlimited transactions for all accounts.
Or use ynab, where you can create lots of virtual bank accounts and keep your sanity...
This is an awesome video! Question: Why is it more important to apply extra income to paying off debt rather than investing? I was doing just that but someone recently told me that investing additional funds is the smarter move! I'm confused.
ICANDOBETTER see Dave Ramsey's episode "Financial advisor told me to invest instead of paying debt"
I love this channel so much 😭😭😭😭
I wish I knew y'all 10 years ago
I can't find the video, regarding term vs whole life insurance...
The way I feel about credit cards is this: If someone is an alcoholic and can't control themselves, they don't need to be around it at all. Same with cards, in our case anyway...we can't control ourselves, we lie to ourselves and say we'll pay it off, something comes up, we don't pay it off, balance carries on...we don't need ANY cards right now! What I have found more useful is a store credit card. They don't have as good of benefits, but at least you can only use it at that certain store.
I wish I had more bank accounts. Now I have 5. Will open more.
like what they said about having smart goals
Great video. I wish I had know how using cash would make a difference
Great tip! Thanks for sharing.
thanks for the great tips!
Thanks for watching!
Thanks again.
love this one
I wish I would have known about the Amortization schedule. Crazy!!!
lawrence martin
I know right!
what about if we have bad health more then likely we can't get it so then what do we do?
The idea is to get life insurance in place while you are still insurable. There is no way of knowing if you will be declined for health insurance unless you apply for it. Hope this helps. Thanks for watching!
keep at least one constant stream of income (I was a job hopper )have multiple streams of income as stated.save,invest, start paying debt sooner,finish school (in nursing)to double or triple my income..THANKS GUYS YOU'RE AWESOME!!
The younger you are when you get life insurance the cheaper it is.
I wish that I would have spoke and thought more positively about money. I wish that I would have invested my son child support... Be on the lookout for my videos "Don't blow your child support check"
Live off campus
Thanks for sharing!
there is nothing dumb about having a mortgage if you are making more money investing. i would equate paying off a mortgage instead of investing to getting a big tax return because you over paid. its not what most millionaires do. it safe but hardly ideal. ask most millionaires if they would borrow money at 3.5% so they could invest it, hell yeah they would.
I agree that credit cards are not evil. I also pay mine off in full every month. That's the catch. If you don't do that you'll get caught up. Credit cards are necessary for travel and for emergencies like a flat tire change when you don't have the cash on you.
You should have rented out the house instead of selling at a loss
I love credit cards......🙂
Your locs are growing so fast!
Yes! Thanks for watching.