I did the course this year. I am now driving a 20 year old Corsa and do my own maintenance. I have paid my mortgage off and I cook from scratch BUT, I do not skimp on healthy food. I don't eat cheap fillers like breakfast cereals, pasta bread etc. I buy food from a farmers market where possible. The energy and sustained health I derive from this is the best investment I can make.
Hi both thanks - great ideas here. I wonder if I might propose a new topic? I’ve heard & can see that Katie is currently on a fitness drive with good success (well done👏) As someone who is already working towards fire I would love some insights as to how to get fit and buff on a budget from someone who isn’t a PT.🙏😊
This is interesting. We are a family of 5 having 3 children. Today we have got to the point of having no debt apart from our house mortgage which is a big difference. I now need to not spend the money we have left over. We used to have a caravan and selling that has meant we paid off my car. So we now have two cars but no car payments. We are trying to find the best and cheapest way to still get away without spending too much money. Next steps are looking to invest this a bit.
Wow congrats on paying off the debt. You’re in an excellent position. Yes the key is not just spending the money on something else and keeping the gap between income and spending as big as possible!
Can I also check the math behind 173 and 753 rules? Presume you are adding interest whereas £100x12=£1200x10=£12k and £10x52=£520x10=£5200. I’m obviously missing something. Thanks
Hey Stephen. Yes it allows for the fact that if you had the money invested it would grow. So it’s not a straight multiplication of the money you save, you are correct!
Are you saying 17,000 pounds is on top of the 100 pounds per week for 10 years? Because 100 per week for 52 weeks a year is already over 5000 then times that by 10 years is way more than 17000 pounds.I’m totally confused by your maths. Don’t get your rules at all.
Six years ago I was in debt approx 40k, had my own house that was nearing end of mortgage with no means to pay initial loan, as it was interest only mortgage (long story why that was but had to surrender endowment as split with partner). The debt accumulated by just buying things, going on holidays, new car etc (my ex was very materialistic where as I’m not). I ended up with around 20 credit cards (due to transferring balances onto zero interest for 12 months cards, eg 5k balance on a card but transfer card only allowed 2k limit so had to have 3 2k limit cards with zero interest etc). I was managing them all on a spreadsheet keeping tabs on payments, and paying a fixed amount to each every month. Then I lost my job and split with my partner….not a good time at all let’s just say. I went to citizens advice and a debt councillor contacted all the companies and said I could only pay £3 a month to them, I did that for six years. Then at the end of that six years ago I sold the house, (as initial capital had to be paid) and payed off the 40k debt with profit from house by asking each company I owed, if they’d settle for a lesser amount, and most did, turned out I cleared the 40k with 26k. Then I rented a flat from then till now. Thankfully I have some pensions and gonna use them to put deposits on buying a property, get a mortgage over seven years (till retirement age) and hopefully mortgage will be paid off by then. Now I don’t have any debt and will never touch a credit card again, unless it’s one that pays a dividend and that I pay off any balance before interest. The moral of my story is, live within your means and there’s always light at the end of the tunnel. I hope my story helps others.
Six years ago I was in debt approx 40k, had my own house that was nearing end of mortgage with no means to pay initial loan, as it was interest only mortgage (long story why that was but had to surrender endowment as split with partner). The debt accumulated by just buying things, going on holidays, new car etc (my ex was very materialistic where as I’m not). I ended up with around 20 credit cards (due to transferring balances onto zero interest for 12 months cards, eg 5k balance on a card but transfer card only allowed 2k limit so had to have 3 2k limit cards with zero interest etc). I was managing them all on a spreadsheet keeping tabs on payments, and paying a fixed amount to each every month. Then I lost my job and split with my partner….not a good time at all let’s just say. I went to citizens advice and a debt councillor contacted all the companies and said I could only pay £3 a month to them, I did that for six years. Then at the end of that six years ago I sold the house, (as initial capital had to be paid) and payed off the 40k debt with profit from house by asking each company I owed, if they’d settle for a lesser amount, and most did, turned out I cleared the 40k with 26k. Then I rented a flat from then till now. Thankfully I have some pensions and gonna use them to put deposits on buying a property, get a mortgage over seven years (till retirement age) and hopefully mortgage will be paid off by then. Now I don’t have any debt and will never touch a credit card again, unless it’s one that pays a dividend and that I pay off any balance before interest. The moral of my story is, live within your means and there’s always light at the end of the tunnel. I hope my story helps others.
@@rebeldonegans I’m so glad I stumbled across your channel and think it’s great how you are helping people, I firmly believe in doing things to help others and think it reciprocates back to you whatever good you put out there. Cheers! 💜
@@bertbile what a LOVELY comment. Wow you’re so kind. We’re happy you stumbled across us toooooo. Thank you for taking the time to write such a nice comment. It’s things like this that inspire us to do more and help more ❤️
Um... I can't invest what I haven't spent! I wouldn't have paid those hotel car parking charges of $50 / day either but that doesn't mean I instantly have $50 to invest! Saving as in not spending isn't the same as income!
Hey Tilly you are right, you have to have both sides the income and then not spending this to work. You are right. We did another video on increasing income that might help. Alan
@@rebeldonegans will watch other clip. Just saying saving and getting shouldn't be brought together as it may mislead people. Anyway - great clip as usual!!
@@rebeldonegans also... was thinking there... it's the word "saving" that's the problem! Saving means "not spending" but it also (to me at least!) means "putting to one side for later". I can't put aside what I haven't got! Hence whete it gets potentially misleading?
@@TillyFloss it is interesting that so many of our words in the English language have been completed to me many things. You are so right as companies use the word savings to persuade you to buy things you don’t need!
I need to watch the first two minutes of this video EVERY DAY to remind me of the 173 and 752 rule!!!
It’s such a powerful of thinking about your spending
Great wisdom 😊. Thank you!
I did the course this year. I am now driving a 20 year old Corsa and do my own maintenance. I have paid my mortgage off and I cook from scratch BUT, I do not skimp on healthy food. I don't eat cheap fillers like breakfast cereals, pasta bread etc. I buy food from a farmers market where possible. The energy and sustained health I derive from this is the best investment I can make.
Michael you are so so right. Health is critical and what else do we have other than energy after all! Thank you for commenting. That means a lot. Alan
Great video! Just discovered this channel today, new subbie 😊👍🏿
Welcome welcome! Thank you for being part of our little Rebel gang ❤️❤️❤️
Hi both thanks - great ideas here. I wonder if I might propose a new topic? I’ve heard & can see that Katie is currently on a fitness drive with good success (well done👏) As someone who is already working towards fire I would love some insights as to how to get fit and buff on a budget from someone who isn’t a PT.🙏😊
Love love this idea!! We have been discussing it today!
This is interesting. We are a family of 5 having 3 children. Today we have got to the point of having no debt apart from our house mortgage which is a big difference. I now need to not spend the money we have left over. We used to have a caravan and selling that has meant we paid off my car. So we now have two cars but no car payments. We are trying to find the best and cheapest way to still get away without spending too much money. Next steps are looking to invest this a bit.
Wow congrats on paying off the debt. You’re in an excellent position. Yes the key is not just spending the money on something else and keeping the gap between income and spending as big as possible!
We can help with the investing bit! Come to Rebel Finance School this summer and we’ll talk you through it ❤️
Can I also check the math behind 173 and 753 rules? Presume you are adding interest whereas £100x12=£1200x10=£12k and £10x52=£520x10=£5200. I’m obviously missing something. Thanks
Hey Stephen. Yes it allows for the fact that if you had the money invested it would grow. So it’s not a straight multiplication of the money you save, you are correct!
Food for thought literally. Thanks so much for the tips
Who doesn’t love food!??
Are you saying 17,000 pounds is on top of the 100 pounds per week for 10 years? Because 100 per week for 52 weeks a year is already over 5000 then times that by 10 years is way more than 17000 pounds.I’m totally confused by your maths. Don’t get your rules at all.
Tried putting a lengthy inspiring comment but keeps getting deleted!
Six years ago I was in debt approx 40k, had my own house that was nearing end of mortgage with no means to pay initial loan, as it was interest only mortgage (long story why that was but had to surrender endowment as split with partner).
The debt accumulated by just buying things, going on holidays, new car etc (my ex was very materialistic where as I’m not).
I ended up with around 20 credit cards (due to transferring balances onto zero interest for 12 months cards, eg 5k balance on a card but transfer card only allowed 2k limit so had to have 3 2k limit cards with zero interest etc).
I was managing them all on a spreadsheet keeping tabs on payments, and paying a fixed amount to each every month. Then I lost my job and split with my partner….not a good time at all let’s just say.
I went to citizens advice and a debt councillor contacted all the companies and said I could only pay £3 a month to them, I did that for six years.
Then at the end of that six years ago I sold the house, (as initial capital had to be paid) and payed off the 40k debt with profit from house by asking each company I owed, if they’d settle for a lesser amount, and most did, turned out I cleared the 40k with 26k.
Then I rented a flat from then till now. Thankfully I have some pensions and gonna use them to put deposits on buying a property, get a mortgage over seven years (till retirement age) and hopefully mortgage will be paid off by then.
Now I don’t have any debt and will never touch a credit card again, unless it’s one that pays a dividend and that I pay off any balance before interest.
The moral of my story is, live within your means and there’s always light at the end of the tunnel.
I hope my story helps others.
Six years ago I was in debt approx 40k, had my own house that was nearing end of mortgage with no means to pay initial loan, as it was interest only mortgage (long story why that was but had to surrender endowment as split with partner).
The debt accumulated by just buying things, going on holidays, new car etc (my ex was very materialistic where as I’m not).
I ended up with around 20 credit cards (due to transferring balances onto zero interest for 12 months cards, eg 5k balance on a card but transfer card only allowed 2k limit so had to have 3 2k limit cards with zero interest etc).
I was managing them all on a spreadsheet keeping tabs on payments, and paying a fixed amount to each every month. Then I lost my job and split with my partner….not a good time at all let’s just say.
I went to citizens advice and a debt councillor contacted all the companies and said I could only pay £3 a month to them, I did that for six years.
Then at the end of that six years ago I sold the house, (as initial capital had to be paid) and payed off the 40k debt with profit from house by asking each company I owed, if they’d settle for a lesser amount, and most did, turned out I cleared the 40k with 26k.
Then I rented a flat from then till now. Thankfully I have some pensions and gonna use them to put deposits on buying a property, get a mortgage over seven years (till retirement age) and hopefully mortgage will be paid off by then.
Now I don’t have any debt and will never touch a credit card again, unless it’s one that pays a dividend and that I pay off any balance before interest.
The moral of my story is, live within your means and there’s always light at the end of the tunnel.
I hope my story helps others.
That is so annoying! Well thank you for getting us a short comment.
We are so grateful that you have found our videos and joined the gang
@@rebeldonegans I’m so glad I stumbled across your channel and think it’s great how you are helping people, I firmly believe in doing things to help others and think it reciprocates back to you whatever good you put out there. Cheers! 💜
@@bertbile what a LOVELY comment. Wow you’re so kind. We’re happy you stumbled across us toooooo. Thank you for taking the time to write such a nice comment. It’s things like this that inspire us to do more and help more ❤️
Um... I can't invest what I haven't spent! I wouldn't have paid those hotel car parking charges of $50 / day either but that doesn't mean I instantly have $50 to invest! Saving as in not spending isn't the same as income!
Hey Tilly you are right, you have to have both sides the income and then not spending this to work. You are right. We did another video on increasing income that might help. Alan
@@rebeldonegans will watch other clip. Just saying saving and getting shouldn't be brought together as it may mislead people. Anyway - great clip as usual!!
@@rebeldonegans also... was thinking there... it's the word "saving" that's the problem! Saving means "not spending" but it also (to me at least!) means "putting to one side for later". I can't put aside what I haven't got! Hence whete it gets potentially misleading?
@@TillyFloss it is interesting that so many of our words in the English language have been completed to me many things. You are so right as companies use the word savings to persuade you to buy things you don’t need!