8 Ways To SAVE When You Live Alone-Saving Money with Frugal Living
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- Опубліковано 25 вер 2024
- Looking to live alone, but have no idea how to afford it? Discover how to take control of your finances as a single person with these unique money-saving techniques. By saving a portion of every paycheck and building another stream of income, you can secure your financial future. Don't miss out on these valuable tips - subscribe now!
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I used to be very poor. As I climbed the financial ladder, I continued to live like the big bad wolf is at my door. Lol I'm headed to work wearing 10 year old clothes and driving a 2009 Toyota Rav4. I DON'T CARE WHAT PEOPLE THINK!
YASSSS!!!!!
I have a 2023 Toyota yours is a baby
We are upgrading our 1997 Golf for a 2010 Lexus! Major upgrade for us!!! 🚙
@@PenniP I'm in the market for a second used car and have found some great deals but they're all stick shifts. 😱
@@mariamoreira4716 I think yours is the baby being only one year old. Mine is a 15 year old teenager! Lol
The great thing about living alone is that you have complete control of your finances. No one else to answer to. You know where the money is going without someone else spending money you don’t have. Eat what you want when you want. Do what you want. Go where you want. Do what makes you happy.
YAS!
I paid off my mortage last month, worked hard the past two years to get it paid off early and so excited that I paid it off almost 9 years early. A big win
Congratulations 🎊 👏
Congratulations 🎉🎉
Congratulations 🎊
Great job treat your self to something you have wanted
Congratulations! 👏👏
I can adamantly say that being single is actually more frugal than being married and trying to balance the wants of two people who don’t pull in the same direction.
I always thought I was horrible with money. Turns out, the ex husband I sent back to his mom was the problem! Since we split up (25 yrs ago) I have more money as a single person than I ever did as part of a couple. Who knew? (Not recommending divorce as a money fix but it turned out to be a bonus effect, LOL)
Sherry! LOL! Sometimes it works out that way! I know what you mean. Divorce isn't fun and no one sets out that way, but time sometimes shows us a new path and that is the better one! See you are actually good at money! YASSS!
Couldn’t agree more with only working for what you are paid for. I’ve put in 18 years of grueling work at a job I actually really love, but after being passed over for a promotion, I realized it’s not worth it. Now the same supervisory job is open again and I’m almost certain I’m not going to apply. It’s a raise, but at some point the stress just isn’t worth it. And neither is the feeling of betrayal for being passed over the first time.
An older woman told me years ago to always earn my wage but never give your emplyer fully what you are capable of because they will always want more. Now many years retired I always lived by her advice.
I got divorced 6 years ago and didn't really know about retirement he did all the stuff with the money I was a stay-at-home mom so I have nothing for retirement
Just started putting money towards it now$3,000 yeah
YASSS Celeste! You've got this!
@celesteyoung if you were married for 10 years you can get social security based on his wages. His retirement at work you should get a part of that as well. Your lawyer should be able to explain your benefits. Unfortunately I see this all the time women raised their families and now 😔 get maybe $800-$900/month and are homeless when too old to work.
If you were married for more than 10 years then you are able to get 1/2 of his pension (if he has one). When you go for social security you can apply for spousal benefits which will most likely be higher than what you will receive. Keep moving forward.
You should have gotten half the retirement fund. And sadly the trad wife to poverty highway is a thing
Great job!
I have lived alone most of my adult life, ever since I got past the house share stage in my 20s, and wouldn't swap it for anything!
I have one job and, at the age of 61, cut back to 4 days a week. Everything is paid, so nothing owing. I managed to pay off my mortgage in one of the more expensive areas of the UK 7 years early (working in the not-for-profit sector means wages aren't humungous, but I do do something I really believe in, so this overpayment was a little by little strategy).
Right now, I am re-evaluating what I have in my home and am just about to start selling things on ebay to realise the value of things I don't need. I am also a crazy crafter, so am setting up a small online shop to sell things I can make that can yield some additional income, and this can go on when I retire next year.
You are so smart on that "work what you're paid for". I went overboard on all my jobs and guess what, never got any extra. Worked my whole life and not much to show for it. If you are willing to do 2 people's jobs, your boss is smart enough to not pay you extra. Take that to heart.
So true!!!
YASS! :) Thanks Karen!
Just remember that when you without a mortgage then you are still paying property tax and home insurance
You still have housing costs
Dont go above and beyoynd they take advantage if your kindness
Thanks Kate. Beginning of the month and already broke. Expensive May, June graduations, increased expansion pledge for the church and my own extravagance has landed me here. Going to tighten all the hatches for the small and large leaks so I can $ Save $ for ER and "future me" again. Thanks for everything!❤😊❤❤
Love the singles videos. Over 50 years single and typically 50% take home to housing (high cost area). Commuting is my 2nd job. Frugality and careful choices are essential, as well as having an emergency fund and planning for retirement. Really enjoying moving toward simplicity and focusing on needs while working toward a life without high stress work.
I don’t know your situation or choices and I’m not judging you, but to me I’d pick one. A long commute OR a high cost living area. Seems to me like you choose one to avoid the other. Both is awful
Hey Kate, I haven’t talked for ages. You are amazing. Your advice has helped me to turn my life around. I have financial freedom. Not many people know because I have you and the k squad. I have a buffer, an emergency fund and a KiwiSaver account too. You keep me focused. My future has options now. Thank you.
AMANDA! I could cry! This makes me SO HAPPY! I'm so proud of you!!!!!!!!!!!!!
Some people's outgoings are more than their income. Hence, not able t o pay oneself first.
@@jeanjones1211 I know, I’ve been there too. Was a single mum with 3 kids and a part time job. Lived pay check to pay check. But I turned it around. It took years, it was hard. But worth it.
I like the tip with pretending you earn less money than you actually do ✌️
I cook at home. I am strict with what I eat - that means I plan a lot of meals, almost all in a week.
Good morning kate . We made it back from vacation UNDER BUDGET . And was still able to put my $1000 in savings . Thanks for helping me do that
YOU ROCK! I'm so proud of you! I hope you had a blast!!!
I used to take day trips and see how little I could spend. I would always take a bag of clothes or toys and stop at those second hand kids stores and sell them. Then I would eat the cheapest place with the best food. Once, I ate for 5.00 at Olive Garden, all you can eat soup and salad. I guess those days are long gone. 😅😅😅
@@karenharvey7197
Olive Garden lunch is still the cheapest price in our town
I absolutely pay myself first on payday. Sinking funds and emergency fund get paid first. I do a $5 challenge each year, saving each $5 bill I get back in my change. This year I used the money from the $5 challenge as my spending money at WDW.
While I’m nowhere near living alone (married mom of 3 😂) We are a single income family and lots of these apply to our lives. The budget buffer just saved us allot. Car maintenance of $1800 I was thinking it would be $800 😅 thankfully we had a budget buffer it has helped us have less stress. What would have been a credit card charged emergency a year ago now is just an inconvenience that we have to replenish our buffer.
Saving something, really anything, will start to transform your life
So true:)
Hi Kate -and K-Squad. What I especially love about your channel and advice is how it has helped me to become intentional about my money and how every little bit matters- there is another content creator who advocates for a value jar. The value jar is a list on paper each time you are tempted to buy something but don't . I have done this for a week and in addition to saving almost $100.00 on fast food and soda it has really brought home to me how supposed "slow leaks" can do a lot of damage. My best to all.
❤❤❤this idea! I KNOW my $$$ is leaking that way: small and large purchases. 😢 Thanks for this great idea!
Me and my boyfriend are going on a weekend anniversary trip (close by) at the end of July, i am saving $20 a week until then for my “fun” money when we are there. Love guilt free shopping 😊
Sometimes I just say NO to my wants.
Sometimes I say, THINK ABOUT IT AND WAIT UNTIL TOMORROW TO DECIDE.
Sometimes I just buy it. Guess which one I usually regret!?!?
😀😊
I do what works for me i dont care what anyone else thinks
Hi Kate. I always pay a little extra on my bills every month, this way I’m in a credit so if one month I’m short one bill will be paid. Thank you for everything you do for us. Have a great weekend and say hi to Kaden ❤️
Inflation is going through the roof, all prices are so high now. I live in Indonesia, and I'm learning much from you. Thank you so much Kate
Grow up in a household where money was ALWAYS an issue. You will save.
Our lovely choreographer dances with her hands! Beautiful! 💃🩰🕺💖
I set aside $300 for my vacation to Vermont, and we leave to go back home tomorrow and i spent $20 under budget. I put that $20 right into my savings. Id say, a win is a win 😏
I know a guy who saved his change every year then cashed it for vacation. I have never had that much change, but he did.
Happy Frugal Friday Kate ❤. I pause before making a purchase! And gentle on my self when I make a 'mistake'. 💞🙏🌿🌷
YASS!!! Thanks Kaitlin!
Hey, Kate - love everything you post! A couple of months ago, I was able to pay off the last of my credit cards (3 years ago, I had a balance of nearly $50,000). Now, I'm in the process of buying my first real home, and we're hoping to close on the condo around the middle of next month. I'm going to try to follow your lead to get the mortgage paid off way sooner than 30 years. Thanks, and keep doing what you're doing. Much love and hugs to you & Kaden!
Thank you so much!
When you live alone, you are in control of everything. There’s no excuse not to save. When family visit, especially the grandchildren, lights are on in every room just because, water running full force just to brush their teeth, TVs on with no one watching, washer and dryer with a partial load. When I live alone, I save, save, save and keep the expenses low.
We need to teach the younger generations how to save also. This was lost with the boomers and we need to get back on track. My son balks at the prices of new things and most of the time goes without or to the thrift store.
Would you please do a video with realistic ideas for kids/grandkids birthdays and holidays? I find these to be budget busters!
Thanks! I'm in the home stretch of paying off last cc & car payments but I took your message about saving regularly to heart. It's not going to hurt me to save $25 a week while paying off my debt and will add a cushion to my emergency fund. I like the idea of saving a little until I can save more. ❤
Hello thanx for sharing, this information.
I just started living frugal six months ago, plus I started saving a small amount from my weekly paycheck.
I find couponing helps me allot with saving.
This is a great video Kate, it makes me think how can I add a revenue stream? I’ll keep thinking about it, but what I will do for sure is overestimate my bills and put the overage in to savings. 😊
Thank you!! I'm single, older, and live in Hawaii. It's very expensive too!
I'm so glad you're here! Thanks for watching:)
My future me age 56 is to downsize our home live healthy peaceful happy life
🥰❤️🙌
I never saved money in my life until I got older. Big mistake. I love to sell stuff on the side hustle, so I started saving everything I made from these side hustles. Sometimes it might have been 12.00 and sometimes 200.00. It was fun seeing how much I could save. It's a great hobby.
I am 55 years old single i take certain amount oyt of my pay put rest in savings wiek wirh that amount i used to be poor never again
I no longer put myself in financial situations I know I can't handle.....anymore. I used to! But now I know better. We drive used, paid for cars so we don't have a payment. I won't put us in a rent situation we can't afford ( I live w/ my partner of 3+ years ). And we dont buy things unless we have the money for them. Just yesterday I was able to purchase the COMFIEST Coziest looking wide sectional that wouldve cost upwards of 800+ at a thrift store for $200. Oh, and we're moving! Our rent will only be $100 more than what we're paying, so we can afford that. And I'm not worried. You must set yourself up for success or you will be setting yourself up for failure.
I LOVE THIS! " You MUST set yourself up for success or you WILL BE setting yourself up for failure!"
Great list! My husband and I do these types of things even as people who don't live alone.
Couple things I do…I have a written budget that has some fluctuations but the process is the same each month (I am paid monthly). I have direct deposit go into one account. When I am paid, I automatically transfer a set amount of money into Savings. I also have a separate account for my Sinking Funds so funds are transferred there every month too. In the main account, all my fixed expenses come out of there. Like you, I budget high. Once I have the budget done and I know what my fixed expenses are, I take the remaining funds and move them to a separate account…this account is for household expenses such as food, gas and miscellaneous household expenses. The expenses in the month can vary from month to month, but I always know the threshold amount and don’t go over it. One other thing I do is keep a list of household staples and food staples. I can easily update the lists when I run low on an item during the month so it is not forgotten by the time I get to the store.
I total up all my incidental bills for the year like AAA, car insurance x 2, license, tags, and taxes then divide by how I'm paid; weekly, bi-weekly, etc. Thats how much i save per check for those expenses. I also have gotten due dates changed to even out expenses thru the month. It makes for no surprises!
I do that too for my county and school taxes, car and home insurances. It’s a chunk but totally worth the peace of mind.
I save because i pay all the big stuff in cash
Great tips😊❤😊 When I use a coupon I save that amount in my HYSA. I use lots of coupons or discounts so the savings grow quickly. I stopped buying things just b/c of the discounts. Lots of unnecessary spending
Just found your channel, love that we are the same age! Only thing is that I have been living with my head in the clouds, and relearning how to be an adult, ha! New subscriber
I'm SO glad you're here! WELCOME! Lots more to come! :)
You are wonderful dear Kate...helping all of us ..I just love to learn more at this late stage of my life..become a widow 3yrs back and was feeling lost but managed to get on the road again...thanks to the most wonderful husband I had I have enough to live ...nit as before but still can do a very comfortable life...and you my dear is what I needed....enjoying all your videos...bless you and your lovely boy.....at 68 it is a real experience to start living all alone but now I am managing well...I am Ramona on my late husband's.....thanks once again for taking the time to help us all....❤ I am from Srilanka....this is not the 1st I wrote to you
So happy to see you!!!!! Thank you!!!!
You and Kaden are the best.. still 🎉❤your channel and advice.😅
thank you so so much!!!! so glad you are here!
Me and my husband share the expenses, but we each have a income account. We put the same aside each month to bills, fuel and food. So the month where the bills are low we put the same as when the bills are high. Because when it high you have the buffer from the low months. The extra income we have gets put into savings. We just saved enough to get new windows and new roof.🎉
Wow. Great planning!
I only spend $70 a month on eating out. This saves a lot of money.
I find myself increasingly motivated to save, as I am putting a portion of my paycheck directly into savings and I have a savings challenge (from the Budgeting Sisters) that I am coloring every time I have money moved. I love seeing the page get fully colored and seeing my balance increase. I don't know why I stopped doing this when I moved from VA to NJ, but I love getting back into the habit and flexing that muscle 🙂
I love your idea round up. I do that when I balance my check book. Now I have $200 so far for my buffer.
YASSS CONNIE!
I had a very basic emergency fund and living very frugal. Everytime I received a bonus or pay raise I added a small part to my household budget and the rest went into a direct deposit acct. I didn't see it so I didn't spend it. At the end of a set time I would decide what to do with it. Usually that money went into my emergency fund and or investments. When it was just me I am very comfortable with less.
YES Kate!!! Another way I like to say it is don't work like the owner if you're not. I will give 1000% when I'm present and then on to the next thing!
"Don't work like the owner if you're not." Love that!
I am 57 and have next to no retirement because the company was not putting my 401k contribution into the account for 10 YEARS! I only found this out recently and they did correct it but still waaaaaay behind. Maybe I can retire in my early 90’s
WHAT??!?! OMG! I'm so glad they corrected it, but goodness!!!!
What your employer did is illegal and actually criminal. The financial institution (like Fidelity) should be sending you quarterly updates where it shows both your cans your employers contribution. Was your employer fined? How did they figure your loss of not having the correct amount for 10 YEARS of the correct amount being in the market? Sorry this happened to you
@@marshahampel1645 they did nothing but start my 401k a couple of years ago
@@KateKadenall that money I missed out on … 🥲
I got a shock after needing to close my 401 k at a company I no longer work for. I'm 73. US Property stocks have a HOLD on them for 3 YEARS.. My money they had for years I can't get back. I was losing money hand over fist with their " maintenance fees" and wanted to invest it elsewhere.. Sorry but I'm angry.
Good video. First things first. I am learning this principle now because I just moved and cannot afford everything I want right now.
YES! First things first. Congrats on your move!
💯 with everything you shared! I've learned and have implemented most everything you mentioned through the school of hard knocks and looking to Learn how to not be there again. You are an awesome lady!
Thanks so much!!!
Great content Kate. Thank you 🙏 I refuse to put on the heating in the summer no matter how chilly it gets. When I get home from work I get into my bed with my two fur babies and my fleece blanket. I also save €2.00 coins in a jar for small unexpected gifts. I never spend more than €10 on birthdays except for my immediate family!
Great reminders, Kate! We got paid today, so I put the tips into practice right away! 😊
I am on a way to better finance. Made 3 standing orders on a paycheck day: 1. Rent and utilities. 2. Taxes and 3. Savings and it helps.
I love listening to you! Keep up the good work. You have so many valuable ideas.
Thank you so much!
Hi Kate, second time reviewing this for the inspiration. Am doing better than last Spring & Summer. 🎉😊🎉
WAY TO GO JUDITH!!!!!!
I’m happy to know I’m already doing a lot of the things you mentioned! I have set amounts for savings each month but over the past few years I have gotten small pay raises at my job, so I still budget the same “minimum” paycheck amount I used to live off of, and save any extra. That usually results in around $220-$230 a month that I automatically save in addition to my other savings just because I budget off of a lower paycheck amount.
Thanks Kate🦋
Blessings
Good morning!!!
Kate I love your content. You are so helpful and amazing! Thank you!
You're so welcome! I'm so glad my videos are helpful. Thrilled you are here Pauline!! Thank you!
Bills are the problem that’s where all my wages goes x
Yeah if im in my workplace. I'm clocked in, doing my job. Even 15 minutes.
Love your ideas! So glad I found your channel! Love your personality too❤
Thank you so much!! I'm so glad you're here! See you Friday for a new video!
Ahh Kate you are so wise! I like the single life theme. Hugs to Kaden.
Thank you so much Sue!!!! I appreciate you!
Hello from Romania!
Great video, thanks!!
So glad you liked it Martha!
Great video! Thanks for the reminders!
You are so welcome! Thank you for watching!
Love you Kate. Thanks for these gems! 💗
You're so welcome! Thanks Kathy!
Awesome
Terrific 😮
Happy frugal Friday, Kate! Love these single person videos you have been doing, because I have been single for about five or six years and they are very helpful! But, hopefully that will change and hopefully I find a Mrs. Frugal cyborg! Lol! But enjoying these topics on living alone/single person videos you have been doing the last few weeks! Have an awesome frugal weekend, Kate! :-) BOOM!
Great ideas! I enjoy your videos, thanks for all you do .
Thanks so much Patty!
Buy just what you need 😊
I'm an avid reader! When there's a new book I want to read, I buy it with a gift card I earned doing online sweeps!
I just wait for new books to show up at my local library, then check them out!
This is a very good and helpful video. I do a lot of these things but learned something new. I only wish I followed a lot of them sooner😊
Thanks so much Tracy!
You’re awesome. This is the seious mindset I’m looking for! Let’s go!!
Thank you tons! I’m so glad you’re here!
Keep those eyes on the prize💃🏽🥳
YASSS Tressa!
Hi Kate! Thank you so much for all your wisdom and encouragement!
I’ve been on this financial journey since January of last year and I love the satisfaction I get from making these little changes consistently over time and seeing dramatic results!! Changing my habits around money is seriously awesome 🤩 I follow Dave Ramseys baby steps and I’m still paying off debt. I’m so excited/anxious/CAN’T WAIT to start saving big time. I’m always so tempted to take money that is above my margin and put in savings even though according to the baby steps I need to be putting every dime to debt. I’m sure you can relate to that feeling! Do you have any advice or feedback for me? Thank you so so much! Rita
You are so inspiring. Thank you for making these videos. 💕✨
You are so welcome! Thanks for being here❤️
Great and simple advice Kate Thank you 👍😊
Thank you!!!
Love you Kate!!.❤
Remainders YES
Excellent video and tips!!!
When alone there are 3 piddly luxuries i enjoy: peeling and eating a whole avocado from top to bottom in one sitting as messy as it becomes, or not; cutting a cantalope in half to eat and giving myself permission to eat the other half in that sitting too; eating ice cream right from the carton.
Two other things are inportant for me too: 1) managing my time 2) creating a calm sanctuary at home. Time mamagement so,that i maximize my time, do all the things without having to coordinate with others, and keep that ssocial interaction and those real-world experiences going besides the 9-5/ paycheck job(s), eating, TV watching, and sleeping. 2) Needless to say, one way or another ive tended to be ?selfishly active and having a sanctuary at home has been important. I say selfishly with a question mark because when you dont have to work with another person's schedule or preferences you get to chose. What you do diffetenciates between selfish or not.
I try to put 100.00 weekly in savings gs
YASSS Tracey!
Arnt we lycky were single
Back in the old days, our bank had a Christmas plan where they automatically withdrew money from you account. That way, you always had money for Christmas. We did this for years. Do banks still do this?
I think some do! Christmas club! :)
Automate savings/investing as much as possible. The less you have to manually do to make savings happen the more likely it is progress will be on a steady basis. My checks direct deposit into my savings account and I have monthly scheduled transfers covering my normal monthly expenses, Roth IRA contribution, and brokerage account investments to the appropriate accounts. I'm getting maximum interest and dollar cost averaging without having to do anything extra each month. I only have to think about changes when contribution limits increase, I want to change the amount I am investing, or I have a large expense that needs an additional transfer to cover.
I have separate finances from my wife so other than the combined expenses, we each have our own money. I do pay a little extra on the house so that we have 0% interest rate.
I have 9 streams if income to
That is so great! 9! Woot woot!
I talk myself out of things allllll the time...like I need to justify to myself why I want McDonald's for breakfast... works for me
One thing I would have loved to be reminded at the time was that I could put 10% extra a month on my mortgage and a certain amount every year. Some times I had extra money (little but enough to make a difference at the end). The last year of my mortgage I did just that and realized I had wasted money no doing this before. I would have loved to have a circle of friends to talk about that. Now when I meet a younger woman I say NO coffee, no restaurant, keep your money and make it grow.
I love this comment SO MUCH, thank you!!!!!!
My car is now paid for. It’s nice to save that $, but it’s so exhilarating to know I now have a buffer. I’m retired and am all smiles.
YASSS! WAY TO GO PAMELA!