Avoiding debt is huge. Then, when there are any sort of "windfalls", every penny of it can be applied to savings, creating more "net worth", which is the goal.
Yes I’m frugal and practical and was constantly made fun of. But out of all my friends that spent and spent and spent in their 20’s are now not prepared for retirement now that we are in our 50’s.
I started practicing being a minimalist about four years ago thanks to a friend of mine writing about it in her book. I've never looked back. Being frugal is easy, I just ask myself if it's a need or a want, when I'm in the store, and it's usually just a want, that passes when I'm back in my car driving to the golf range. 🙂
Money is a tool. It's just a means to achieve our dreams and goals, not an end in itself. The pursuit of wealth leads people into destruction and despair.
Congratulations you are very wise. I myself have low income, however, I do have 12 months of my expenses fully funded in a high yield savings account and do contribute every month into my retirement and brokerage investments accounts. I have no financial worries I feel happy every day.
Develop contentment, and that will help you contain overspending. Life is unpredictable, and you never know what is around the corner. Remember, you are NOT the sum total of your possessions.
The points about frugality and not spending money every time you go somewhere is correct, and has hit home for me so many times. I was told by someone I know, that 'if I were you I would buy such and such', thats the point you are not me. But this advice came from someone who as spent their life financially struggling in just about every way possible, but they still cannot see that, and have the nerve to GIVE financial advice, (as if they are Warren Buffet), although they, themselves would not know how to use if GOD gave them an instruction booklet.
I used to think frugality is cheap, but after I found financial independence. Now I understand the difference and started budgeting, paid myself first and live below my means. The only regret I have is that I wish I knew this in my 20s.
The first thing anyone needs to do is get a pen and paper and get honest with your self..write down how much you genuinely get every month and then how much come out from that. I always pay my rent first because its the most important roof over your head, after that food, Utilities. There will be months where u are short and have to go without, but then you'll have good months where you'll be in a better position. You have to lose the mindset of Well I've earned this or I deserve this. If you do not have the money then no.. When your situation improves then you will be able to treat your self. All of this should be temporary bout of going without..
I just caught your content I do not care what people think The ones who talk smack are usually broke BUT want to borrow from those who are well disciplined with their money I was raised with discipline A budget comes natural for me I have no desire to impress anyone I live a quiet simple life Self sufficient! I would be terrified to impulse shop You do not have to spend large sums just to enjoy something This why people that make six figures are broke They feel a budget does not appy to them 👍Your content is always on point!
I feel u were talking about the old me when u talked about the person who is cheap & don't look for quality. I used to look for quantity instead of quality. Now I look for comfort & quality. I love your videos. I learned things that blow most ppl minds! Thank u so much!!! Before I get paid I always pay my mortgage & credit card off. I try to save from the month before & have an emergency fund. I believe Warren Buffett budgets.
Not caring what others think about what or how I spend is a big thing. I have saved so much by doing this. I have also cut people off who could care less about money. Funny thing these people seem to never have the ability to take care of anything.
I owned my own house, no mortgage, had 2 children , married at 25! Now 3 divorces later? I stil. Own my house, no mortgage! I'm 67 now! 😅 I own my budget! Plus, plus,plus! Most bills are paid 12 months ahead! Just Incase i get sick! My bills even on a pension has allowed me, to live well though frugal! I doubt any man out there who has been through 3 divorces can say , he owns his own own house, has 3 pairs of RM Williams boots boots in perfect condition! I'm ugly, I'm old! But I turn women's heads because I'm Independent and extremely confident! Whilst trying not to be Chad!😅
We have a friend that made the comment “ I know y’all think I’m cheap ( from some of her financial dealings). I said no you are just being frugal. My sister sa bit later said “ she is cheap, not frugal??
Far too many people share their private business with others, I.e. co-workers, neighbors, store clerks, non involved family member, etc. SHUTUP and live your life.
Having that small starting out isn't gonna matter with any interest even in a high yield savings account. Have that in the easy access savings account that is linked to your checking for needed if in a pinch. Evaluate if can start adding more each time (even make challenges with it) and if you can get started adding more, then you can start looking for ways of making it work better for your situation. Years ago I started participating in my employer stock purchase plan and they take X% of my pay and keep it set aside and 2x a year (end of June and Dec) they purchase the stock at a 15% doscount in my account. I can then log in and sell it the next day at full price and get the total proceeds if wanted to. I could then add that to my own personal account so basically making a 15% return on those funds just by having that process setup. I kinda used that for years as a Christmas spending fund instead of putting that same money into a savings account back then that was 0.05% apy....
I’ve been a pro freelance finance writer since 2005 (before AI was a thought). It is very possible to complete an article from start to finish in 2 to 3 hours (including research).
Another video filled with important and doable advice. I don't have an emergency account, because I was told if you do you will always have an emergency. So, playing on words I call it my "Just In Case Fund." That way, "just in case" something happens I'll have the funds to cover it. 🙂 I learned about investing, starting small, from a person on Instagram, who stated to just look around you and see the items that you always purchase and ask yourself why this and not that brand? Those are the stocks you should invest in because you know the product so well. I found the stock for the sneakers I always wear. I can be purchased at just $50 a month! Thank you again for sharing your insightful knowledge.
"Financial security is more important than showing off"
That's the most important lesson you could ever learn
Paying myself first has been a very good idea I stress less knowing I always have backup I am never broke
So true. My cousin has the “good job” yet is upside down with the finances.
I've never had anybody call me names or make fun of me because I was on a budget. Never.
Avoiding debt is huge. Then, when there are any sort of "windfalls", every penny of it can be applied to savings, creating more "net worth", which is the goal.
YES - Habit #2 - Never apologize for being Frugal is Spot On!!!!!!! Along with all the other ones. Great video per uze!❤
Yes I’m frugal and practical and was constantly made fun of. But out of all my friends that spent and spent and spent in their 20’s are now not prepared for retirement now that we are in our 50’s.
Or 60's! I was invincible (70-100 hours per week since 13) but the body called me to a dead stop! Happily single, and happy to pay someone else now. ☺
I started practicing being a minimalist about four years ago thanks to a friend of mine writing about it in her book. I've never looked back. Being frugal is easy, I just ask myself if it's a need or a want, when I'm in the store, and it's usually just a want, that passes when I'm back in my car driving to the golf range. 🙂
Hi, my name is Latasha & I am super frugal. I feel no shame in it at all 😊
Money is a tool. It's just a means to achieve our dreams and goals, not an end in itself. The pursuit of wealth leads people into destruction and despair.
Very good advice. Most of these l do and l am never broke with a low income❤
Congratulations you are very wise. I myself have low income, however, I do have 12 months of my expenses fully funded in a high yield savings account and do contribute every month into my retirement and brokerage investments accounts. I have no financial worries I feel happy every day.
Develop contentment, and that will help you contain overspending. Life is unpredictable, and you never know what is around the corner. Remember, you are NOT the sum total of your possessions.
The points about frugality and not spending money every time you go somewhere is correct, and has hit home for me so many times. I was told by someone I know, that 'if I were you I would buy such and such', thats the point you are not me. But this advice came from someone who as spent their life financially struggling in just about every way possible, but they still cannot see that, and have the nerve to GIVE financial advice, (as if they are Warren Buffet), although they, themselves would not know how to use if GOD gave them an instruction booklet.
Planning an budget saved my life.
Paying myself 1st also.
I never tell anyone what I have.
I hlp family if they ask.
Love hlpn too
I used to think frugality is cheap, but after I found financial independence. Now I understand the difference and started budgeting, paid myself first and live below my means. The only regret I have is that I wish I knew this in my 20s.
Just live beneath your means and be mindful with needs vs wants.
The first thing anyone needs to do is get a pen and paper and get honest with your self..write down how much you genuinely get every month and then how much come out from that.
I always pay my rent first because its the most important roof over your head, after that food, Utilities. There will be months where u are short and have to go without, but then you'll have good months where you'll be in a better position.
You have to lose the mindset of Well I've earned this or I deserve this. If you do not have the money then no.. When your situation improves then you will be able to treat your self. All of this should be temporary bout of going without..
Great mindset! Proven tips for getting ahead ❤
came for the message; subscribed for the most soothing tone. thank you!!
Thanks for subbing!
Thanks for the tips 😀
I pay myself first, so my savings pots get filled before anything else. Then I feel like it's a really long month before I get to do it again! 😂
I just caught your content I do not care what people think The ones who talk smack are usually broke BUT want to borrow from those who are well disciplined with their money I was raised with discipline A budget comes natural for me I have no desire to impress anyone I live a quiet simple life
Self sufficient! I would be terrified to impulse shop You do not have to spend large sums just to enjoy something This why people that make six figures are broke They feel a budget does not appy to them 👍Your content is always on point!
Spot on, smart video, beautifully shot. ❤️
I feel u were talking about the old me when u talked about the person who is cheap & don't look for quality. I used to look for quantity instead of quality. Now I look for comfort & quality. I love your videos. I learned things that blow most ppl minds! Thank u so much!!! Before I get paid I always pay my mortgage & credit card off. I try to save from the month before & have an emergency fund. I believe Warren Buffett budgets.
Am learning all these things now am so thankful because I was definitely in the “trying” to save money hamster wheel for a long time
I love this channel. Always such wise advice. - This was one of my favorites and gonna share with my young adult sons. Thank you.
Solid points! I do look forward to your videos.
I appreciate that!
Love your content ! You explain so well -
Not caring what others think about what or how I spend is a big thing. I have saved so much by doing this. I have also cut people off who could care less about money. Funny thing these people seem to never have the ability to take care of anything.
This is one of your best videos. What you shared is so true. Great video.
Excellent advice, as always. Thanks so much for the video.
My pleasure!
Another great video. Thankyou
Glad you enjoyed it
I do surveys, it helps with groceries
One of your best videos yet!! Thank you!! ❤🎉
Glad you liked it!!
THank you for sharing.
My pleasure!
This is helped me. Thank You.
Glad it helped!
Love your.vlog always i learned lot
Glad you like them!
I like the word MINDFUL 😉 over frugal 💚
I owned my own house, no mortgage, had 2 children , married at 25! Now 3 divorces later? I stil. Own my house, no mortgage! I'm 67 now! 😅 I own my budget! Plus, plus,plus! Most bills are paid 12 months ahead! Just Incase i get sick! My bills even on a pension has allowed me, to live well though frugal! I doubt any man out there who has been through 3 divorces can say , he owns his own own house, has 3 pairs of RM Williams boots boots in perfect condition! I'm ugly, I'm old! But I turn women's heads because I'm Independent and extremely confident! Whilst trying not to be Chad!😅
Be more humble I shall say.
Good advice!
Thanks!
We have a friend that made the comment “ I know y’all think I’m cheap ( from some of her financial dealings). I said no you are just being frugal. My sister sa bit later said “ she is cheap, not frugal??
Far too many people share their private business with others, I.e. co-workers, neighbors, store clerks, non involved family member, etc. SHUTUP and live your life.
Great video 👍🏾
Thank you! 🤗
What does one do with the $5 or $10 saved every month? Regular savings accounts have really low interest rates. Any suggestions? Thanks!
HYSAs (High Yield Savings Accounts) are amazing. I’m with Wealthfront & earn 5% interest. I could refer you & we’d both earn 5.50% interest for 3mos.
High Yield Savings Accounts (HYSAs) ... Jenius, Marcus, etc.
I would try to put $ in a high yield savings account. $5-10 is better than $0 savings 🎉
Having that small starting out isn't gonna matter with any interest even in a high yield savings account. Have that in the easy access savings account that is linked to your checking for needed if in a pinch. Evaluate if can start adding more each time (even make challenges with it) and if you can get started adding more, then you can start looking for ways of making it work better for your situation. Years ago I started participating in my employer stock purchase plan and they take X% of my pay and keep it set aside and 2x a year (end of June and Dec) they purchase the stock at a 15% doscount in my account. I can then log in and sell it the next day at full price and get the total proceeds if wanted to. I could then add that to my own personal account so basically making a 15% return on those funds just by having that process setup. I kinda used that for years as a Christmas spending fund instead of putting that same money into a savings account back then that was 0.05% apy....
@@monstertruckfan8450 thanks!
Conservative families live well
AI will. write the articles and "just" 5 hours of your time is hysterical. Like 5 hours a day is minimal. Blech. "Not interested" button now.
I’ve been a pro freelance finance writer since 2005 (before AI was a thought). It is very possible to complete an article from start to finish in 2 to 3 hours (including research).
Is just an illusion..
AI is already making freelance writing obsolete.
There's still plenty of work
Another video filled with important and doable advice. I don't have an emergency account, because I was told if you do you will always have an emergency. So, playing on words I call it my "Just In Case Fund." That way, "just in case" something happens I'll have the funds to cover it. 🙂 I learned about investing, starting small, from a person on Instagram, who stated to just look around you and see the items that you always purchase and ask yourself why this and not that brand? Those are the stocks you should invest in because you know the product so well. I found the stock for the sneakers I always wear. I can be purchased at just $50 a month! Thank you again for sharing your insightful knowledge.
Great video ❤
Thank you!!