How I Organize my Finances 💸 budgeting, savings tracker, credit cards & debt
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- Опубліковано 28 тра 2024
- SUCH a fun video to film! I hope you guys enjoy it!!
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My views are not those of my employer. All video clips were filmed before work, during designated breaks, or after work.
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Normalize hating on Dave Ramsey 😂👏
I'm all for doing what works for you but I feel like his methods are so restrictive and not sustainable long term. Like it's OK to spend money on things that bring you joy when you're paying off debt Dave...🫠
@@CarterSullivan I couldn't agree more! And lately Dave has been advising to purchase a home with no regard to increasing interest rates and falling prices - who wants to be the chump to buy and lose equity?!
@@CarterSullivan and he’s also so against credit when credit is almost always necessary to buy a home or a car. And he pushes his savings accounts that he earns commissions on 🤨 sketch
I started with his method when I was in mad debt and it was helpful 🎉 but as I gradually learned more about finance - I branched out from his method and took a little from other people’s advice/experience and created a personal financial plan.
@@lee-13 i'm the exact same!
When I stopped living paycheck to paycheck is when financial things really started to settle. I could breathe and plan ahead. Then it felt like I was off to the races.
I've also tried a few different methods and have settled on Mint to keep track of spending per category (every item goes in a category). Then I export those transactions to a spreadsheet (twice a month) which keeps an annual total per category. I also have categories in my annual sheet that don't have monthly goals, just annual goals because I don't know when they'll occur. Like travel, special occasions and car maintenance. And I have a big enough savings account to cover those expenses when they happen and then just slowly refill the account over the year.
I went to college for Personal Financial Planning and I have to say, this was a great video! You gave great advice and it’s obvious you’re well educated in your personal finances. You explain everything so well, I have no doubts this will help many viewers. Great job!
Wow this is so kind. Thank you! I taught myself everything I've read so many bugs and learned about so many budgetting styles and I just really enjoy making finance easier to understand for others!
How long was it to take that? I am interested
Morning Carter happy Tuesday morning and I loved your vlogs and you are amazing Supporter and I'm proud of you
love all your videos so much Carter ❤
♥️♥️♥️
I love my ally savings because you can have up to 10 different buckets for different goals but it’s still all in one acciunt
I've heard such great things about Ally for that reason!!
I love the fact that mid week I can transfer money in and out in a day electronically so I never worry about not having access to my money ! Ally is awesome ! Glenda
Wonderful Wonderful sharing Carter!💫💓
Thank you 🤗
I love your videos. I am currently starting to become more independent I have had a job since I was 16 and I am now 20. I have grown up watching my mom live paycheck to paycheck. And sadly have also started living that way. As you know it is hard to break out of that habit I was wondering if you would be willing to do a video where you talked about how you stopped living paycheck to paycheck.
Thanks for sharing this was so helpful!
You are so welcome!
I freaking love you and you inspire so much. Budgeting and money is never something I grasp easily. So your videos are very helpful. Thank you for sharing this content and just your life in general.
This comment made my day!!! Thank you 🤍
7:12 see that’s my biggest problem. I have a lot of things where I know when it’s coming out but I really hate it because sometimes I’ll get paid and I hate one jobs. Don’t pay you like I feel like job to pay you the same date and not the same day because I have a lot of things that I just automatic payments and I always end up getting overdraft because of it.
thanks so much for this video carter! you have absolutely changed my life when it comes to financial literacy!!!
quick question - does canada not offer any higher interest high yield savings accounts? i just got one at capital one (im US based) which is a consistent 4.3% interest rate! if so, wondering why you don't opt for those choices?
You're so welcome! Canada does offer a few high-interest savings account but not as good as the US! I think the highest one here is only 2% and I do utilize them and that's where my emergency fund is stored😊
As an avid ynab user since 2021, it really does not take a lot of time to use/enter expenses. The most time was spent figuring out what i roughly spent for the categories i was going to use and learning how to use ynab itself.
Exactly!
I would never go back to monthly insurance again if all goes well. did it once first time I got a car. I pay that thing once a year and I feel much better. What I pay monthly I try to convert to yearly and then pay. I feel better not paying a ton of bills a month and just put aside money for each of these yearly expense instead of feeling like something is breathing down my back asking for money. Also gives me peace of mind my insurance is covered cause I have money to do any thing that might pop up unexpectedly. Also don’t keep all ur eggs in one basket. I put money in 3 different banks and thinking to do one more. I got over 7 accounts probably like 10 😂 and it helps me. Most I treat like sinking funds.
Honestly do whatever works for you! For me it didn't make sense to do it yearly because I don't save any money doing it that way! But doing it yearly is a great option as well if that's what you prefer! Many right ways to do bills!
My boyfriend and I usually don’t split gifts I buy the gifts for my family members and he buys the ones for his family members but we always say it’s from us 😂
That works great as well! Whatever works for you as a couple! Matt's family doesn't really do gifts but my family does so that's why we typically just split them!
POLL: For anyone who has purchased a new car (assuming it was not a source of financial strain), do you regret your choice? I'm torn! I've only ever had used vehicles, never even had a monthly car payment. But sometimes I wonder if there's anything about buying new that makes it worth it since obviously so many people do it. Anyway, just interested in hearing opinions.
I think it’s really what matters to you. My dad used to be a mechanic and my fam raced cars so I grew up loving cars. When someone hit me and totaled my car I could have purchased another used in cash but I decided to buy brand new. I put money down and overpaid on payments. I only did this because I fell in love with a car that had everything I wanted and plan to keep for a long time. I paid it off in 4 years on a 5 year loan. I sometimes wonder what I would have done not having gone that route. I am still obsessed with my car and I treat it well so it’s still like new to me.
My boyfriend bought a car because he needed transportation bad for work. It was a huge financial strain and was a dumb, young decision that I regret not talking/thinking more about (we were 18 at the time). We definitely should have done more research, negotiating, and budgeting before going forward with it. So long as your decision is informed, go for it. As much as I regret it, he loves his car and now we can comfortably afford it monthly so I try to let it go
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Could you do a video about how you use your wealth simple app? Just simple/basic
YNAB BABY we love the shoutout
HAHHA kudos to anyone who uses YNAB, that shit confuses me
@@CarterSullivan I WILL TEACH UUUU
what spreadsheet are you currently using?
The one linked in all my resets!
If you have time to scroll, you have to budget. Do you scroll while pooping? Why aren't you categorizing transactions instead?
I have autopay in place for electricity & some debt I have to pay back. I get financial support from the government and they pay the rent, so there is no step in between of me having to think about it. That has worked well for years, especially those, where I was mentally unable to do much. Honestly, if you are struggling mentally, finance can be daunting, however, I believe in asking for help, autopay, giving yourself a weekly budget and trying to stick to it.
Ps. I am much better and I work on getting back to work and becoming financially independent. No shame here, if needed, we go through times of struggles, but we can come out better and stronger and especially healthier!
I agree with all of this! Finances and budgetting can be daunting but finding a way to try it out simply and easy! Finances shouldn't be something we run from (even though we've all gone through a point in life where we have)!
We have so many accounts over 4 different banks/credit unions. We do the bills account & spending account, separate accounts for rent houses, money market accounts, savings… We always laugh that if people saw all our accounts they’d be like 😳 WTF but it works for us 😂
EXACTLY! Whatever works for you!
me watching with a 22% $504 car payment for a 2013 LMAOOO