What if you cant get a job because the people of your nation betrayed you and brought in millions of people and gave them everything, leaving nothing left for their own countrymen?
I make my own lunch and save between 20 & 30 bucks a week. Every month I put 80-90 bucks in a separate savings account. After 52 weeks. I saved about 1050 bucks. I've been doing it for 10 years. I have over 10,000 bucks sitting in that account for a "rainy" day.
7/11/24...I am retired/single lady in Central FL....I have my own mfg home on a lot that I own + a nice private fenced backyard...+ a puppy. I was trying to find a good way to start a "special savings account" so I started putting my EXTRA COLA $$ each month in a savings account @ my credit union. And I did it all 12 months of last year + this year. Amazing how I don't even miss the $$ but it is quickly adding up. I hope to add next year's extra COLA $$ also. Just saying, it's NEVER too late to save $$ or to LEARN a new trick!!!
When I was broke in my twenties, I did the zero out method. Every Friday I would take the last 3 digits of my checking account and move that into a savings. So if I had $168.24 I would move $8.24. I didn’t miss it and it grows fairly quickly and next thing I knew I had a little $1,000 emergency fund
I’m 23 years old and I’m currently doing a Roth IRA in Robinhood where I have a recurring investment daily of about seven dollars where I have one dollar per ETF and then I have my own individual trading account where I invest and what the individual account does is it allows me to exit anytime so I’m trying to save up for a car. I don’t have to wait until I’m 59 years old to get out or I don’t have to wait five years as well cause Robin Hood you need to wait five years and also when you’re 59 years old and I have that recurring investment set for $5.02 six dollars Into three ETFs with two dollars going into the S&P 500 and then the other four goes into high growth ETF so like QQQ and SMH and then SCHG as well I will update if I remember, but I will try to set this up for about three years where I’m investing every single trading day
I followed your advice and opened a savings account every time i got paid & put $20 into it. I now have 26 savings accounts with $20 in them. I may have misunderstood.
I drove the same truck for 22 years I act like I had a car payment of 350 bucks a month. Invested that for the 22 years. That worked for me. I get to retire before I hit 47.
That's a good idea I had a $534 car payment I paid consistently for over 2 years then I bought a old truck and quit paying that ridiculous car payment I think I'm going to try this.
Another trick is ditch a bad habit, add up what you were spending on that and put it in the account. Mine was weed. Found out I was saving 150 bucks a month just ditching that. Also ditched the snacks from convenience stores, 150 saved. In a blink I suddenly had 300 bucks a month extra. I don’t savings account it though, it goes to the debt as I’m fortunate enough to have about 3 months of expenses covered in another account. I’m sure I could bump that up if I wanted to but inching out of credit card debt is the goal and slowly but surely it’s worked. One completely paid off now just chipping away at the other card. 5 grand to go. After that I’m in pretty good shape.
Yes. Bad habits are costly! I am great at saving money. However, after my divorce I had this vice; where once, twice a week, I found myself at a bar, having brews, lunch or dinner and playing conservatively on a keno machine. I never really felt it, because I am pretty conservative on spending otherwise. Then I looked back at what I was spending; it was easily $100 or more a week. That’s a grocery bill. Long story short, I stopped going to the bar and started investing/saving more with it. It’s insane how a habit can be so sneaky expensive!!!
@@P1983sche yeah they are. Nothing wrong with spending money on things you enjoy but moderation is key to really most things in life. Maybe just smoke weed, go to the bar, go to the theater, whatever it is like one Saturday a month instead of every single week.
A decade of so ago you made a video on the AlwaysWheezy channel about this exact topic and it potentially changed my life. I was in my early 20s with no savings and always thought if I couldn't save 15%-20% why save anything. I started putting just a little money out of every check into a savings account. When crypto was peak popular in 2020/2021 I had extra cash in that savings to fun invest, and I picked something that ended up doing well. I cashed that out and used the money to go back to college and now I'm about a year from finishing my bachelors degree. Sooo thanks for the advice!
Another way to do it is the 10% tax rule. Every paycheque, transfer 10% of it to the savings account. When you do that right off the top, you don't even think about it being gone, because you didn't remove it. It's a savings tax. Gotta pay the tax.
my company pays us with a Money Network Paycard, a couple of years ago the MN app added budgeting features such as purchase tracking and a "piggy bank". you can have up to 3 customizable piggybanks that automatically transfer your specified amount when your paycheck is over your specified threshold. the nice part is that it's only a subdivision of your account, but it also won't automatically move cash if you overdraw so if you do need to access it, it's easy to transfer without any fees. if a skimmer gets your card number from a gas pump, they can only access what's available to the card, and I actually had this happen once... they got $700, but not the other $8k in the piggy banks. there's also a "card lock" feature, so if you catch something like that early enough, you can prevent further activity. for me, I like the automatic transfer. reason being that I don't have to think about it, don't need to remember to do it, don't need to make the decision to do that or use it for something else. instead it's the other way around, I have to make the decision to take it out of the piggy bank.
@@waywardmind - I do a slight tweak to this: I have an auto transfer set to move $10 every day into savings. It adds up without me noticing it, but I never have a huge amount taken out at one time.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
‘Gertrude Margaret Quinto’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Great advice, there is just one thing I don't agree with. When it comes to saving, do yourself a favor and automate it. It removes the decision-making process which is the main problem for most people. It's just too easy to justify not sending money to the saving account because you "need" it for something else. It works even better if you automate it and then literaly forget about it.
My aha moment with this was the concept of "separating the money out from the rest of the debt money." I've tried this in the past, but my impulsive need for SOMETHING nice outside of GRINDING was high. I should say, I am the queen of living in poverty (great job/low pay/not going to change that - love what I do) so my idea of something nice was like a day of shopping in Goodwill with a $40 limit. But . . . whose to say I can't be saving for an $80 day at garage sales (which is where I was when someone gave me FREE a good sewing machine which allows me to play with making a bit of coin doing repairs for people and doing some designing for me).
I will never stop admiring how well you balance discipline with self-compassion and understanding. Thanks for sharing your wisdom in such a relateable way.
I agree. Wheezy has a way of teaching without being self-righteousness. I appreciate the goal setting while showing the struggles. I watched the 30,000 step video before this one. Better than t.v.! Thanks, Wheezy!
Within 5 minutes of listening to you, I could tell you had restaurant experience, I did it for 20 years. It took me a few years to learn how to manage cash in hand everyday.
I do the inverse; my wage goes straight to a savings account, and every time I get paid (at the end of the month) I manually transfer 1000€ to my checking account and live the next month off that. I live in Finland
I do similar with mine. 1000 to cover rent and bills, everything else I put some into savings and the rest into 5 for weekly expenses and getting to/from work. Having online banking with saving pots you can control realllyyy helps you with money management
Why don't you set up your direct deposit with 1000 to go to your checking and the remainder to go to your savings? Most employers let you do this. I would take it one step further and make it difficult to see how much is in savings. Only because whenever I see something I want but don't need, I always have in the back of my mind, "why not? I have the money"
I started with $5 per day doing auto deposit into savings. Make your own coffee. Then I went to $10 a day. Pack your own lunch. Then I went to $15. Don't buy junk food groceries you don't need. Never buy any single-serving microwave food. Don't buy $1.89 vending machine soda. Buy 2 liters of generic for $1.49. Don't upgrade anything "because it would be nice" if the old one or way still works. Don't buy because "you deserve it", only buy when you can afford it. If you do this 75-80 % of the time, you will have more money in savings than if you do this 0 to 50% of the time. Soon the unexpected car repair or dental bill won't break your checking account. Basically, become your thrifty grandma for a while.
My cat has medical needs that once a year cost about $1200 and it always catches me off guard. I get paid 24 times a year. I set up an auto transfer to my savings anytime I get paid more than $200. I now always have that emergency vet money, at least 1200 a year. It's a great system.
Love this! I have a similar system for all my annual, bi-annual, or really just any non-monthly expenses. I'm effectively "paying monthly" for each of these things by sending smaller sums to savings, and then I pull out the full amount back out when it's actually due later on.
I have a set amount put into my savings automatically and prefer it to manually. I also have $100 that goes into a Roth IRA each month and some money goes into my 401K (last year I took a loan out through my 401K for a surgery since my health insurance wouldn’t cover it even though it was considered medically necessary). At least by doing the loan that way, the interest will go back to me.
@@DiponDasgupta he doesn't qualify, but yeah it's a great idea for most people! It's a dental thing no pet insurance covers. Thank you for the thought though
genuinely helpful! i never learned financial literacy and it’s still a terrifying thing to me so this seemingly small step is something i’ve never thought of and, as i said before, is genuinely helpful! thanks wheeze!
Check out 2cents, I went from someone who threw up at the thought of not being able to pay rent to fully managing my household finances, escaping financial abuse and now looking at opening my own business!
Great concept! I actually teach this in my literacy class, especially to those folks that say they don’t make enough. Taught my sons years ago and they still do it but at a higher amount. Great practice for teaching kids and young adults to develop great habits ❤
I wish I would've learned this in my 20s but I finally figured it out and a weird version of the "envelope" trick worked and now I'm not stressing from paycheck to paycheck. Yay learning!
I saved $10 a week back in the 80s it was called a Christmas club and helped me pay for my 4 kids Christmas presents. I only made $5.25 an hour back then.
There was a time in my life when I genuinely couldn't save anything - but the habit of attempting to save even if I had to take it back out later was so helpful once I started making more money. I remember the first time I could pay for a car repair without going into debt was truly liberating. This is just to say that this is really sound advice even for folks scraping by.
Yup, as life goes on, u get in a habit of not shopping for fun. I got onto the habit of not spending. When a veterinary emergency rolls around, or car repair, I have it covered...no biggie. So, I'm financially secure, no worries, feels great!
I love watching finance videos. And I'd like to say this is one of the best ones that I've seen. Your advice applies to everyone and I could literally send this video to anyone and it would help them build a good financial habit of saving
I paused this video just to say I wish there was someone like you to explain all the other important adult things that I should have figured out by now...financially speaking that is. EDIT: I wasn't expecting any responses...guess I forgot that's how comments work lol. I should have been more specific - while this video was great, I'm good with a savings plan in a general sense. It's the extraneous financial world of things like investing and retirement plans that I was referring to. How great would it be to watch a series of videos with someone like Wheezy dropping knowledge and empowering us to become financial gurus?
When you say "should have figured it out by now" that usually means it's something your parents should have taught you. It might not be their fault they didn't (my mum had no time management skills, how could she have taught me?) - but that is why other people know this stuff and you don't
i refer to this as the 'oh sh*t' fund, useful for those times you say similar to "oh sh*t, that nail punctured the sidewall of my tire, and now i need to buy 2 or 4 new tires!" or "oh shit, the fridge died and our food is spoiling!" or "oh shit, the furnace died and we're freezing to death in a chicago winter"
Let's you get real tires and not used ones. Poor lady I worked with couldn't afford anything more than a single used tire with a month warranty. She blew a tire on the highway about every other week.
This is exactly Singapore's retirement/pension system. Everyone has an account in our "Central Provident Fund" or CPF. And everytime we get paid a portion of it goes into that savings account. It is then broken up into different sub-accounts. We can't withdraw it for personal use until we hit 55. But the money is used for other things. One for healthcare, which we call "Medisave" which we use to offset costs like dental and other healthcare costs, and one Ordinary Account (OA) which is primarily used to buy housing and then one Special Account (SA) which we can't use for healthcare nor housing and that also means it also has a higher interest than the OA. The SA then becomes our Retirement Account and when we hit 55, we have the option to start drawing from that account or just choose to let it sit and roll interest.
I'm gonna try this $20 rule. Handling money is extremely difficult for me, in part because I tend to do impulse purchases, which are only exacerbated by my ADD. Putting $20 in a savings account instead of spending it on dumb carp (!) I don't need seems like a good start.
This is a big thing. Moving it to a new amount where you don't have debit card access shows you down and gives you time for your brain to go "eh we don't really need it"
I have ADHD too, and my savings goes into an account that takes 2 business days to get access to, no exceptions. Slows down the impulse purchases with that money, at least.
you're a gift, Im 24 and like I needed to hear that. Not like I acknowlledged it long time ago, just needed to trully believe that will help me. Its nothing obvious but sometimes you've gotta hear that simple things, to look at the right direction, am I right? bless wheezy (ly your content)
Banks used to have Christmas Club accounts or Vacation Club accounts. Minimal amount of money. $5 or $20 a week for the year…..and at the end of the term you would have that money saved.
Your delivery is hilarious. I love this video. I will start saving the $20. I am paying down debt right now and really going no buy anything until I do but $20 should not make a difference and the next step is to build the emergency fund so I would love to start practising doing that earlier. It almost makes me feel I am there because paying off is agonizingly slow!.
If you save $20 every paycheck and get you paid every 2 weeks, you’ll save $520 per year. This is a great habit for those that are still in their teens or early 20s. For everyone else, like Weezy says here, try to bump up your biweekly saving to $40, $50, or $100. Or do $20 per week instead of every two weeks.
I did exactly this for 63 years and became an accidental millionaire. Now, my health is failing and can’t enjoy the fruits 🍇 of my labor because I’m in my death bed 🛌 and forgot to live after being consumed by work my entire life.
I have direct deposit and have it set to put $50 in my savings. I also have a Roth IRA that I put some money into each month as well. I have had to dip into it at times. For me, I like having the money be put in automatically so I don’t have to worry about it. I manually put coins into a piggy bank and jar.
Nha, I'm 32, and I never saved. But thoughts like "it's fun when you're 20 but you need to save more." Are the kind of thoughts that made me not start in the first place. Start small. Commit to a small amount. Even if you're 80. It's about creating a life style, not a high number.
@@looppooper2306 what do you have to show for it though? Lots of memories? What about when you want to get married, start a family, buy a home? If you’re 32 still thinking about having fun and living in the moment, you 40, 50, 60, and 70 year old self will hate your 32 year old self. Saving a small amount every week or two will not prevent you from living a fun lifestyle. NOT saving will prevent you from having a better future.
I did similar in saving. 1. I put in loose change in a jar at the end of each day. At a time when $20 was a lot, I was saving over a hundred dollars each month. 2. When I would get a raise, instead of creating debt to match the raise, I would increase that amount into investments (maximizing company match for 401k and stock).
This is amazing! I just recently tried to help a coworker and friend of mine who is crazy bad with money by giving him financial advice. One thing I noticed about his finances is that he had no emergency savings, let alone any savings at all. He said he couldn't afford to save, so I challenged him to open a brand new account in a bank different from the one he currently uses and to put $20 in it every time he got paid; the same thing you just said. He took my advice and now has a couple thousand dollars in this account and he says he doesn't even miss the money. I feel so good that I was able to help him.
Just wanted to leave a comment thanking you for your content. Been a subscriber for a few years now. I appreciate your level headed approach to things and also your honesty. Thanks for the laughs as well. Keep it up
Do we all have the same UA-cam Algorithm? Because I very recently started looking into savings ideas and BAM! Wheezy drops a video on it. Happens often.
Can vouch for this tip. ‘Taxing’ myself when I get paid and putting that money into a savings account has been the single biggest game changer when it came to my finances.
I remember being this exact advice in school 25 years ago and them saying I'd be a millionaire quick. 25 years later, and I'm about to go put my first $20 into my account.
This follows pretty closely with a lot of advice I hear about forming good habits! Gotta make sure to start small, and ATTAINABLE. Do something that is relatively easy and painless, so you can do it every time. That reminds me, I was about to go to bed without stretching, which is the habit I've been trying to form, (stretching at the minimum, and maybe doing some planks, every night before I turn in). Thanks for the reminder, Wheezy!
So smart. I watched a financial planner on television counsel people with debt who were recently laid off. She had them calculate how much savings they would have if they had saved $20 each payday on their previous job. The numbers were always in the 1000’s. 😅
Give You Need A Budget a look sometime Craig!! You're super close to their core values of "giving every dollar a job" to ensure you have money to save, that you don't get blindsided by known but unplanned for expenses. Plus I bet YNAB would be a great expert partner for a video topic! I sent YNAB a note with a link to this video too. Would love to see this cross-over episode in the future.
I was thinking about you the other day and I couldnt remember your youtube channel and you stopped showing up in my algorithm. Seeing this video got me u realistically excited to be able to binge your content again 🤗
Took your advice & we'll see how it goes. Also realized some of my hobbies (trading cards, toy collecting etc.) that I really wasn't enjoying anymore needed to take a hike so their is extra savings. Luckily I don't have much debt but I have been thinking about my future as of late. Thanks for the encouragement & the laughs :)
Hope this goes viral! Now near retirement, I plunk all my income into savings (fixed and windfall both) 😊and pay myself a fixed amount less than salary each month.
This is excellent advice. Especially because there's no pressure behind it. It doesn't have to be $20, you can start with as little as $5 and build up from there. Maybe some months you can't deposit any and that's fine because the point of saving is to build that extra.
It's hard for me not to save, so I have been using this method to feel no guilt about spending on somewhat dumb purchases. It's my unnecessary spending fund.
Always pay your interest on top of minimum payments. I use to think Minimum had that included. You don't want to pay the interest, on interest. At that point, you're giving money away.
My wife and I discovered that giving ourselves our each no questions asked allowance each month let us have guilt free fun within our budget and we could still put money away. And we'd look forward to that allowance each month (in a separate account) and would sometimes save it up and take a trip or buy something big. It helped us so much early on. Then as we made more money we could increase that allowance, or decrease it if necessary.
As someone who has taught personal finance, I approve this message. Also, how spot on was the fortnite joke, getting points just like a paycheck every 2 weeks! Absolute legend.
Your comment about "you didn't even notice the $ being gone" is so true! I was paying $1400.00 a month in child support and wasn't putting any $ in 401k. In my mind I was already strapped there is no way I can contribute. Work or the law changed about contributing and kind of forced you to do it, you could opt out but more trouble then I wanted to deal with. I didn't even notice it gone, my checks really didn't change. I just wish I wouldn't have talked myself out of it for so long.
Love the advice AND the delivery! I started doing something I saw on Pinterest and that is starting in January, I save every $5 bill that crosses my path for Christmas money (8 grandkids!) Every now and then I'll cash them in and get a few big bills but I don't touch them ( just makes it easier to count out when shopping season starts...)
Back in the old days before I got married, my dad told me to open an account in my name - in those days the guys had an account and then there was a joint account - mums stayed home and got an allowance. I did open the account and put some of the allowance money in it every week - I called it my ‘run-away’ account! It paid for a weekend away on my own once a year…. my sanity! 😂 btw I had a decent allowance and a good hubby who supported the ‘run-away’ times.
Something that has worked for me is setting up an account for every bill you have and making your paycheck (for me its all of it) go into that account. You don't make any purchases with the account except for bills and then you do a side hustle (or in my case have a roommate) to earn cash for non-necessities
Great advice. I have always put any $5 bills I get as change in a jar Been doing it for yrs, it used to be used for day trips when my children were young. I still do it to this day. When my jar gets about 1/2 full I count up how much I have saved,just for an emotional boost. Did that today, and I have $275.00 saved this time. No immediate plans, I'm going to hang onto it for now, since I recently retired. If I can save, anyone can!
I have a friend that whenever she gets a 5 dollar bill she puts it in an envelope and puts the envelope away. She doesn’t make a lot of money but with that 5 dollar savings plan, she always has money for birthdays and Christmas for her grandkids and any emergency that crops up.
Yes! When I waited tables in my 20s (we are about the same age) I would do my best to just live off the tips - I opened a savings account and put the paychecks into it because they weren’t much (compared to tips)and realized I could probably scoot by. I put the coins in a jar, rolled them (hey, it was the dark ages) and deposited with the checks if I didn’t need it that month. That way if we hit a string of slow nights I knew I at least had a bit saved to help. Gamify is everything!
Those old days are back. I had a heck of a time finding a bank with a coin machine. They all wanted me to roll coins again. Finally found one with a coin machine. Find a bank or credit union with a coin machine that doesn't make you pay to use them. Those Coin Star machines are a rip off.
For a few years I would put all my larger coins in a jar. Now suddenly we have washers and dryers that take coins (what is this, the stone age?!) and I'm using those coins! It's got to be more than a year's worth of laundry paid for lol.
I do this with a bit more than $20, but also with the rule that if I need to take any more out then I pay it back on my next pay day with 10% interest on top. It makes me really think if I need the thing I want to borrow money for, and grows my savings a bit quicker.
This process worked for me in the 80s. I started with $10/check but left it in my checking, then stepped it up incrementally over time. I needed to learn to see *$0 available* despite the balance. Once I got stabilized I calculated expenses per week (minding the 5-week months) so I didn’t come up short on due-date heavy weeks because I spent the “extra money” in the middle of the month when nothing was due.
I always tried to use the 10% savings model. I taught my nephews as they were just starting to work that they should save 10% as soon as you got paid. If they made $150, are thet really gonna miss $15? A couple of them actually followed it and were suprised how quickly it can add up. Sometimes it can seem overwhelming when you are young, but soon get addicted as you see it grow.
I love that you mentioned a high interest account! I always recommend putting money into a high yield savings account (I've got one myself)! Many are free to open and don't have minimums. Solid advice to build a habit and save money! 😁
I believe you always need to pay off debt first!! Especially, debt accruing interest like credit cards. That rate is always going to be more than any savings rate. Also, spend within your means!!!!!
Banks are curiously weird, these days... I kinda like the “leave-the-fitbit-and-phone-at-home-coffee-can-buried-in-the-woods” savings method, with a laminated paper map hidden elsewhere and a dead-man’s-trigger so your BFF gets the joy if you check out suddenly.
Check out Rocket Money for free: RocketMoney.com/wheezywaiter #rocketmoney #personalfinance
Man, I'm thinking about this too long. It'll come to me as I do these weights.
What if you cant get a job because the people of your nation betrayed you and brought in millions of people and gave them everything, leaving nothing left for their own countrymen?
I make my own lunch and save between 20 & 30 bucks a week. Every month I put 80-90 bucks in a separate savings account. After 52 weeks. I saved about 1050 bucks. I've been doing it for 10 years. I have over 10,000 bucks sitting in that account for a "rainy" day.
7/11/24...I am retired/single lady in Central FL....I have my own mfg home on a lot that I own + a nice private fenced backyard...+ a puppy.
I was trying to find a good way to start a "special savings account" so I started putting my EXTRA COLA $$ each month in a savings account @ my credit union. And I did it all 12 months of last year + this year.
Amazing how I don't even miss the $$ but it is quickly adding up.
I hope to add next year's extra COLA $$ also.
Just saying, it's NEVER too late to save $$ or to LEARN a new trick!!!
When I was broke in my twenties, I did the zero out method. Every Friday I would take the last 3 digits of my checking account and move that into a savings. So if I had $168.24 I would move $8.24. I didn’t miss it and it grows fairly quickly and next thing I knew I had a little $1,000 emergency fund
$1,000 is the new $100 now 😅.
That's a great idea!!!
@@dral22😂
I love this ! It’s not overwhelming.
I’m 23 years old and I’m currently doing a Roth IRA in Robinhood where I have a recurring investment daily of about seven dollars where I have one dollar per ETF and then I have my own individual trading account where I invest and what the individual account does is it allows me to exit anytime so I’m trying to save up for a car. I don’t have to wait until I’m 59 years old to get out or I don’t have to wait five years as well cause Robin Hood you need to wait five years and also when you’re 59 years old and I have that recurring investment set for $5.02 six dollars Into three ETFs with two dollars going into the S&P 500 and then the other four goes into high growth ETF so like QQQ and SMH and then SCHG as well I will update if I remember, but I will try to set this up for about three years where I’m investing every single trading day
I followed your advice and opened a savings account every time i got paid & put $20 into it. I now have 26 savings accounts with $20 in them. I may have misunderstood.
ummmmmmm nope. that's right.
You would have $22.50 if you had opened high-yield savings accounts.
😂😂😂
Punctuation is so helpful.
I am so glad I heard him say that too. 😆
I drove the same truck for 22 years I act like I had a car payment of 350 bucks a month. Invested that for the 22 years. That worked for me. I get to retire before I hit 47.
That's a good idea I had a $534 car payment I paid consistently for over 2 years then I bought a old truck and quit paying that ridiculous car payment I think I'm going to try this.
Another trick is ditch a bad habit, add up what you were spending on that and put it in the account. Mine was weed. Found out I was saving 150 bucks a month just ditching that. Also ditched the snacks from convenience stores, 150 saved. In a blink I suddenly had 300 bucks a month extra. I don’t savings account it though, it goes to the debt as I’m fortunate enough to have about 3 months of expenses covered in another account. I’m sure I could bump that up if I wanted to but inching out of credit card debt is the goal and slowly but surely it’s worked. One completely paid off now just chipping away at the other card. 5 grand to go. After that I’m in pretty good shape.
Yes. Bad habits are costly! I am great at saving money. However, after my divorce I had this vice; where once, twice a week, I found myself at a bar, having brews, lunch or dinner and playing conservatively on a keno machine. I never really felt it, because I am pretty conservative on spending otherwise. Then I looked back at what I was spending; it was easily $100 or more a week. That’s a grocery bill. Long story short, I stopped going to the bar and started investing/saving more with it. It’s insane how a habit can be so sneaky expensive!!!
@@P1983sche yeah they are. Nothing wrong with spending money on things you enjoy but moderation is key to really most things in life. Maybe just smoke weed, go to the bar, go to the theater, whatever it is like one Saturday a month instead of every single week.
I recently did this with my nightly wine💀
A decade of so ago you made a video on the AlwaysWheezy channel about this exact topic and it potentially changed my life. I was in my early 20s with no savings and always thought if I couldn't save 15%-20% why save anything. I started putting just a little money out of every check into a savings account. When crypto was peak popular in 2020/2021 I had extra cash in that savings to fun invest, and I picked something that ended up doing well. I cashed that out and used the money to go back to college and now I'm about a year from finishing my bachelors degree. Sooo thanks for the advice!
Good for you !!
ThatS ossum 🎉
Dang! Im happy for you😊
Wow that’s amazing, such a full circle moment that you found this guy again now
Mid-20's male here. Work at a restaurant. Crazy how much this could actually help me over time. Appreciate the advice!
I started taking savings seriously in my mid-thirties. You could literally be a decade ahead of me by just starting now.
Another way to do it is the 10% tax rule. Every paycheque, transfer 10% of it to the savings account. When you do that right off the top, you don't even think about it being gone, because you didn't remove it. It's a savings tax. Gotta pay the tax.
my company pays us with a Money Network Paycard, a couple of years ago the MN app added budgeting features such as purchase tracking and a "piggy bank". you can have up to 3 customizable piggybanks that automatically transfer your specified amount when your paycheck is over your specified threshold. the nice part is that it's only a subdivision of your account, but it also won't automatically move cash if you overdraw so if you do need to access it, it's easy to transfer without any fees. if a skimmer gets your card number from a gas pump, they can only access what's available to the card, and I actually had this happen once... they got $700, but not the other $8k in the piggy banks. there's also a "card lock" feature, so if you catch something like that early enough, you can prevent further activity.
for me, I like the automatic transfer. reason being that I don't have to think about it, don't need to remember to do it, don't need to make the decision to do that or use it for something else. instead it's the other way around, I have to make the decision to take it out of the piggy bank.
@@waywardmind - I do a slight tweak to this: I have an auto transfer set to move $10 every day into savings. It adds up without me noticing it, but I never have a huge amount taken out at one time.
@@smileychesssame, I wish so much I’d started in my 20s!
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@mariaguerrero08who is your advisor please, if you don't mind me asking?
‘Gertrude Margaret Quinto’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Great advice, there is just one thing I don't agree with. When it comes to saving, do yourself a favor and automate it. It removes the decision-making process which is the main problem for most people. It's just too easy to justify not sending money to the saving account because you "need" it for something else. It works even better if you automate it and then literaly forget about it.
My aha moment with this was the concept of "separating the money out from the rest of the debt money." I've tried this in the past, but my impulsive need for SOMETHING nice outside of GRINDING was high. I should say, I am the queen of living in poverty (great job/low pay/not going to change that - love what I do) so my idea of something nice was like a day of shopping in Goodwill with a $40 limit. But . . . whose to say I can't be saving for an $80 day at garage sales (which is where I was when someone gave me FREE a good sewing machine which allows me to play with making a bit of coin doing repairs for people and doing some designing for me).
I will never stop admiring how well you balance discipline with self-compassion and understanding. Thanks for sharing your wisdom in such a relateable way.
I agree. Wheezy has a way of teaching without being self-righteousness.
I appreciate the goal setting while showing the struggles. I watched the 30,000 step video before this one. Better than t.v.!
Thanks, Wheezy!
I put $50 per check, I’m almost at $500 and I’m very excited about it lol
bump it up to 70
Great job!
Good!🎉
Now put it into a high yield savings account or purchase a cd
Within 5 minutes of listening to you, I could tell you had restaurant experience, I did it for 20 years.
It took me a few years to learn how to manage cash in hand everyday.
That’s how I started saving. It really feels amazing once you actually start
I do the inverse; my wage goes straight to a savings account, and every time I get paid (at the end of the month) I manually transfer 1000€ to my checking account and live the next month off that. I live in Finland
Oh that’s a great set up too!
Ok, well thats why it works for you. Us and uk is not like our countries here in the north, im from Denmark
I do similar with mine. 1000 to cover rent and bills, everything else I put some into savings and the rest into 5 for weekly expenses and getting to/from work. Having online banking with saving pots you can control realllyyy helps you with money management
Why don't you set up your direct deposit with 1000 to go to your checking and the remainder to go to your savings? Most employers let you do this. I would take it one step further and make it difficult to see how much is in savings. Only because whenever I see something I want but don't need, I always have in the back of my mind, "why not? I have the money"
I do this, too.
"I have a spinny chair. My dream."
This is precisely the content I'm here for. The spinny chairs.
I started with $5 per day doing auto deposit into savings. Make your own coffee. Then I went to $10 a day. Pack your own lunch. Then I went to $15. Don't buy junk food groceries you don't need. Never buy any single-serving microwave food. Don't buy $1.89 vending machine soda. Buy 2 liters of generic for $1.49. Don't upgrade anything "because it would be nice" if the old one or way still works. Don't buy because "you deserve it", only buy when you can afford it. If you do this 75-80 % of the time, you will have more money in savings than if you do this 0 to 50% of the time. Soon the unexpected car repair or dental bill won't break your checking account. Basically, become your thrifty grandma for a while.
I think I might start transferring money in- everytime I pass on a tempting purchase!
@@gforcewindswinds291 Getting "saying no to an urge" to feel like victory is an important inflection point. Congratulations!
I’m doing the same but instead, i invest that $5 everyday. I just need to be consistent
My cat has medical needs that once a year cost about $1200 and it always catches me off guard. I get paid 24 times a year. I set up an auto transfer to my savings anytime I get paid more than $200. I now always have that emergency vet money, at least 1200 a year. It's a great system.
Love this! I have a similar system for all my annual, bi-annual, or really just any non-monthly expenses. I'm effectively "paying monthly" for each of these things by sending smaller sums to savings, and then I pull out the full amount back out when it's actually due later on.
I have a set amount put into my savings automatically and prefer it to manually. I also have $100 that goes into a Roth IRA each month and some money goes into my 401K (last year I took a loan out through my 401K for a surgery since my health insurance wouldn’t cover it even though it was considered medically necessary). At least by doing the loan that way, the interest will go back to me.
Have you considered pet insurance?
The cat needs to go
@@DiponDasgupta he doesn't qualify, but yeah it's a great idea for most people! It's a dental thing no pet insurance covers. Thank you for the thought though
Our emergency fund is labeled Banana Stand. There's always money in the banana stand.
I love this!!!’
😂😂😂 love that show
That’s fantastic
omg Im stealing this 😆
"There were $250,000 lining the walls of the banana stand..... CASH Michael."
Budgeting is an amazing next step. Actually knowing the comings and goings of your money.
I’m old now but simple savings plans like this when you’re young (even not that young) will make a giant difference when you’re older.
genuinely helpful! i never learned financial literacy and it’s still a terrifying thing to me so this seemingly small step is something i’ve never thought of and, as i said before, is genuinely helpful! thanks wheeze!
Check out 2cents, I went from someone who threw up at the thought of not being able to pay rent to fully managing my household finances, escaping financial abuse and now looking at opening my own business!
Great concept! I actually teach this in my literacy class, especially to those folks that say they don’t make enough. Taught my sons years ago and they still do it but at a higher amount. Great practice for teaching kids and young adults to develop great habits ❤
This is the first time watching your channel. You are hilarious thanks for sharing 😂
Throw your change into a jar. Then $1s, $5s. It's the habit of holding onto money that counts.
"If you're still paying for what not - don't do that, you probably don't need that" I've never felt so called out. lmao.
DON’T JUDGE ME, WHEEZY!!! 😅😅😅
😂😂😂 Busted!!!!!😅😅
i took this "idiot" advice and it working. i think his secret to success was starting very low $20. once the habit sets it you good as gold
I wish I would've learned this in my 20s but I finally figured it out and a weird version of the "envelope" trick worked and now I'm not stressing from paycheck to paycheck. Yay learning!
I saved $10 a week back in the 80s it was called a Christmas club and helped me pay for my 4 kids Christmas presents. I only made $5.25 an hour back then.
My mom did the same back in the day!
I remember those days😶
There was a time in my life when I genuinely couldn't save anything - but the habit of attempting to save even if I had to take it back out later was so helpful once I started making more money. I remember the first time I could pay for a car repair without going into debt was truly liberating. This is just to say that this is really sound advice even for folks scraping by.
Yup, as life goes on, u get in a habit of not shopping for fun. I got onto the habit of not spending. When a veterinary emergency rolls around, or car repair, I have it covered...no biggie. So, I'm financially secure, no worries, feels great!
I love watching finance videos. And I'd like to say this is one of the best ones that I've seen. Your advice applies to everyone and I could literally send this video to anyone and it would help them build a good financial habit of saving
I paused this video just to say I wish there was someone like you to explain all the other important adult things that I should have figured out by now...financially speaking that is.
EDIT: I wasn't expecting any responses...guess I forgot that's how comments work lol. I should have been more specific - while this video was great, I'm good with a savings plan in a general sense. It's the extraneous financial world of things like investing and retirement plans that I was referring to. How great would it be to watch a series of videos with someone like Wheezy dropping knowledge and empowering us to become financial gurus?
I’ll just do it then
When you say "should have figured it out by now" that usually means it's something your parents should have taught you. It might not be their fault they didn't (my mum had no time management skills, how could she have taught me?) - but that is why other people know this stuff and you don't
Shouldn’t SCHOOL teach this to teenagers?
@@ResinEssenceByCheri I think they do; it's just not retained...probably.
@@Kimariyan I think they are starting, but they never did-- at least not here in the US. Great! My kids can teach me how to adult.
This is good advice, I’m gonna try this, I need helpful tips for saving money, cash is king!
I'm not trusting banks anymore. But I can do the $20 thing under my mattress.
Yea just don't tell anyone where you're putting it
u think the bank is gonna stop you from withdrawing ur life savings of $800 xDDD
Yeah so your money just depreciates instead of gaining interest. Genius, Debbie.
@@draxxx_exe When the banks fail they will take all your money including the interest.
Lelelele
i refer to this as the 'oh sh*t' fund, useful for those times you say similar to "oh sh*t, that nail punctured the sidewall of my tire, and now i need to buy 2 or 4 new tires!" or "oh shit, the fridge died and our food is spoiling!" or "oh shit, the furnace died and we're freezing to death in a chicago winter"
Let's you get real tires and not used ones. Poor lady I worked with couldn't afford anything more than a single used tire with a month warranty. She blew a tire on the highway about every other week.
Glad I’m not the only person that refers to it as the “Oh sh*t” fund 😂
This is exactly Singapore's retirement/pension system. Everyone has an account in our "Central Provident Fund" or CPF. And everytime we get paid a portion of it goes into that savings account. It is then broken up into different sub-accounts. We can't withdraw it for personal use until we hit 55. But the money is used for other things. One for healthcare, which we call "Medisave" which we use to offset costs like dental and other healthcare costs, and one Ordinary Account (OA) which is primarily used to buy housing and then one Special Account (SA) which we can't use for healthcare nor housing and that also means it also has a higher interest than the OA. The SA then becomes our Retirement Account and when we hit 55, we have the option to start drawing from that account or just choose to let it sit and roll interest.
I'm gonna try this $20 rule. Handling money is extremely difficult for me, in part because I tend to do impulse purchases, which are only exacerbated by my ADD. Putting $20 in a savings account instead of spending it on dumb carp (!) I don't need seems like a good start.
This is a big thing. Moving it to a new amount where you don't have debit card access shows you down and gives you time for your brain to go "eh we don't really need it"
I have ADHD too, and my savings goes into an account that takes 2 business days to get access to, no exceptions. Slows down the impulse purchases with that money, at least.
you're a gift, Im 24 and like I needed to hear that. Not like I acknowlledged it long time ago, just needed to trully believe that will help me. Its nothing obvious but sometimes you've gotta hear that simple things, to look at the right direction, am I right? bless wheezy (ly your content)
Banks used to have Christmas Club accounts or Vacation Club accounts. Minimal amount of money. $5 or $20 a week for the year…..and at the end of the term you would have that money saved.
This is also called the "Pay yourself first" approach, where you pay your future self some money before you pay the bills from your salary.
Your delivery is hilarious. I love this video. I will start saving the $20. I am paying down debt right now and really going no buy anything until I do but $20 should not make a difference and the next step is to build the emergency fund so I would love to start practising doing that earlier. It almost makes me feel I am there because paying off is agonizingly slow!.
My favorite part, "Yeah so you're just saving money, good advice idiot"! It simple really, but some of us need reminders to just do it. Just do it!
If you save $20 every paycheck and get you paid every 2 weeks, you’ll save $520 per year. This is a great habit for those that are still in their teens or early 20s. For everyone else, like Weezy says here, try to bump up your biweekly saving to $40, $50, or $100. Or do $20 per week instead of every two weeks.
I did exactly this for 63 years and became an accidental millionaire. Now, my health is failing and can’t enjoy the fruits 🍇 of my labor because I’m in my death bed 🛌 and forgot to live after being consumed by work my entire life.
I have direct deposit and have it set to put $50 in my savings. I also have a Roth IRA that I put some money into each month as well. I have had to dip into it at times. For me, I like having the money be put in automatically so I don’t have to worry about it.
I manually put coins into a piggy bank and jar.
Nha, I'm 32, and I never saved. But thoughts like "it's fun when you're 20 but you need to save more." Are the kind of thoughts that made me not start in the first place.
Start small. Commit to a small amount. Even if you're 80. It's about creating a life style, not a high number.
@@looppooper2306 what do you have to show for it though? Lots of memories? What about when you want to get married, start a family, buy a home? If you’re 32 still thinking about having fun and living in the moment, you 40, 50, 60, and 70 year old self will hate your 32 year old self.
Saving a small amount every week or two will not prevent you from living a fun lifestyle. NOT saving will prevent you from having a better future.
@@winterspriteyour Roth, which stock are you invested in?
I did similar in saving. 1. I put in loose change in a jar at the end of each day. At a time when $20 was a lot, I was saving over a hundred dollars each month.
2. When I would get a raise, instead of creating debt to match the raise, I would increase that amount into investments (maximizing company match for 401k and stock).
I just did it while watching this video, super fast and feels good, thanks!
Woohoo! Laser drone activated!
This is amazing! I just recently tried to help a coworker and friend of mine who is crazy bad with money by giving him financial advice. One thing I noticed about his finances is that he had no emergency savings, let alone any savings at all. He said he couldn't afford to save, so I challenged him to open a brand new account in a bank different from the one he currently uses and to put $20 in it every time he got paid; the same thing you just said. He took my advice and now has a couple thousand dollars in this account and he says he doesn't even miss the money. I feel so good that I was able to help him.
Savings are nice. What's not nice is having to dip into them to buy stuff. But then again, that's why they're there. But still.
I struggle with that as well lol.
Just wanted to leave a comment thanking you for your content. Been a subscriber for a few years now. I appreciate your level headed approach to things and also your honesty. Thanks for the laughs as well. Keep it up
Do we all have the same UA-cam Algorithm? Because I very recently started looking into savings ideas and BAM! Wheezy drops a video on it.
Happens often.
So simple, yet very effective. Building a baseline on how to save is so important.
Cute video. Simple and non intimidating way to save. Thanks
Can vouch for this tip. ‘Taxing’ myself when I get paid and putting that money into a savings account has been the single biggest game changer when it came to my finances.
I remember being this exact advice in school 25 years ago and them saying I'd be a millionaire quick. 25 years later, and I'm about to go put my first $20 into my account.
True as hell,
Over all the years, your videos still bring so much joy and laughter. Thank you for the advice and hope your day goes well :)
If $20 is too much, start with $10 or $5! 😊 The point is building a habit of putting money aside. 👍
This follows pretty closely with a lot of advice I hear about forming good habits! Gotta make sure to start small, and ATTAINABLE. Do something that is relatively easy and painless, so you can do it every time. That reminds me, I was about to go to bed without stretching, which is the habit I've been trying to form, (stretching at the minimum, and maybe doing some planks, every night before I turn in). Thanks for the reminder, Wheezy!
Just found your channel and I love your humor. Very enjoyable!
So smart. I watched a financial planner on television counsel people with debt who were recently laid off. She had them calculate how much savings they would have if they had saved $20 each payday on their previous job. The numbers were always in the 1000’s. 😅
This is simple genius. The delivery is the best. Instant subscribe you beautiful hunk.
Give You Need A Budget a look sometime Craig!! You're super close to their core values of "giving every dollar a job" to ensure you have money to save, that you don't get blindsided by known but unplanned for expenses. Plus I bet YNAB would be a great expert partner for a video topic! I sent YNAB a note with a link to this video too. Would love to see this cross-over episode in the future.
Exactly what I was thinking! I don't have words to describe how much I love and am grateful for YNAB.
YNAB ftw! 🙌
I was thinking about you the other day and I couldnt remember your youtube channel and you stopped showing up in my algorithm. Seeing this video got me u realistically excited to be able to binge your content again 🤗
$100 is a lot of money for a five year old. Man, back in my day that would buy two hundred candy bars. Inflation, amirite?
Or 10,000 Swedish berries or gumballs. Oh the days of penny candy...
Just realized how old I am at 50. I remember when $100 would buy you 400 candy bars. 😂
$100.00 used to go a long ways. Now it can maybe get you 30 items or less depending on where you go and how you budget
Yes I miss those days I felt like a millionaire at school with $100 dollars 💵
Took your advice & we'll see how it goes. Also realized some of my hobbies (trading cards, toy collecting etc.) that I really wasn't enjoying anymore needed to take a hike so their is extra savings. Luckily I don't have much debt but I have been thinking about my future as of late. Thanks for the encouragement & the laughs :)
Hope this goes viral! Now near retirement, I plunk all my income into savings (fixed and windfall both) 😊and pay myself a fixed amount less than salary each month.
I tried it and it works. Putting extra in when I can gives me a mental boost. It's better than buying stuff.
This is excellent advice. Especially because there's no pressure behind it. It doesn't have to be $20, you can start with as little as $5 and build up from there. Maybe some months you can't deposit any and that's fine because the point of saving is to build that extra.
It's hard for me not to save, so I have been using this method to feel no guilt about spending on somewhat dumb purchases. It's my unnecessary spending fund.
Always pay your interest on top of minimum payments. I use to think Minimum had that included. You don't want to pay the interest, on interest. At that point, you're giving money away.
Just file bankruptcy and never use debt
@@kylemckennie2599 What would be the benefit?
My wife and I discovered that giving ourselves our each no questions asked allowance each month let us have guilt free fun within our budget and we could still put money away. And we'd look forward to that allowance each month (in a separate account) and would sometimes save it up and take a trip or buy something big. It helped us so much early on. Then as we made more money we could increase that allowance, or decrease it if necessary.
As someone who has taught personal finance, I approve this message. Also, how spot on was the fortnite joke, getting points just like a paycheck every 2 weeks! Absolute legend.
Your comment about "you didn't even notice the $ being gone" is so true! I was paying $1400.00 a month in child support and wasn't putting any $ in 401k. In my mind I was already strapped there is no way I can contribute. Work or the law changed about contributing and kind of forced you to do it, you could opt out but more trouble then I wanted to deal with. I didn't even notice it gone, my checks really didn't change. I just wish I wouldn't have talked myself out of it for so long.
Love the advice AND the delivery! I started doing something I saw on Pinterest and that is starting in January, I save every $5 bill that crosses my path for Christmas money (8 grandkids!) Every now and then I'll cash them in and get a few big bills but I don't touch them ( just makes it easier to count out when shopping season starts...)
Back in the old days before I got married, my dad told me to open an account in my name - in those days the guys had an account and then there was a joint account - mums stayed home and got an allowance. I did open the account and put some of the allowance money in it every week - I called it my ‘run-away’ account! It paid for a weekend away on my own once a year…. my sanity! 😂 btw I had a decent allowance and a good hubby who supported the ‘run-away’ times.
This is really good advice. Little bits add up. ❤😊
Lololol, whenever I come back to Wheezy, I appreciate the humarz. Humor. That's what I meant. Man.....I have to explain myself? Psssh.
Something that has worked for me is setting up an account for every bill you have and making your paycheck (for me its all of it) go into that account. You don't make any purchases with the account except for bills and then you do a side hustle (or in my case have a roommate) to earn cash for non-necessities
Thank you! I am the type of person who needs a video like this 💵! Much appreciated!
Something a friend said to me once that helped is when i want to buy something just wait two weeks and see if i still want it, less impulse purchases
Great advice. I have always put any $5 bills I get as change in a jar Been doing it for yrs, it used to be used for day trips when my children were young. I still do it to this day. When my jar gets about 1/2 full I count up how much I have saved,just for an emotional boost. Did that today, and I have $275.00 saved this time. No immediate plans, I'm going to hang onto it for now, since I recently retired. If I can save, anyone can!
I love how entertaining your video is ! Great work !
Awesome advice 🇦🇺👍
I have a friend that whenever she gets a 5 dollar bill she puts it in an envelope and puts the envelope away. She doesn’t make a lot of money but with that 5 dollar savings plan, she always has money for birthdays and Christmas for her grandkids and any emergency that crops up.
i will enroll in etiquette classes ASAP. thanks wheezy.
SO MUCH WISDOM HERE!
I have literally seen popular "economics for beginners" channels explain why inflation makes saving pointless, if you don't have a good interest rate.
Yes! When I waited tables in my 20s (we are about the same age) I would do my best to just live off the tips - I opened a savings account and put the paychecks into it because they weren’t much (compared to tips)and realized I could probably scoot by. I put the coins in a jar, rolled them (hey, it was the dark ages) and deposited with the checks if I didn’t need it that month. That way if we hit a string of slow nights I knew I at least had a bit saved to help. Gamify is everything!
Those old days are back. I had a heck of a time finding a bank with a coin machine. They all wanted me to roll coins again. Finally found one with a coin machine. Find a bank or credit union with a coin machine that doesn't make you pay to use them. Those Coin Star machines are a rip off.
For a few years I would put all my larger coins in a jar. Now suddenly we have washers and dryers that take coins (what is this, the stone age?!) and I'm using those coins! It's got to be more than a year's worth of laundry paid for lol.
ABSOLUTELY AGREE on somw financial advice being mathematically great but not mentally/emotionally great.
I do this with a bit more than $20, but also with the rule that if I need to take any more out then I pay it back on my next pay day with 10% interest on top. It makes me really think if I need the thing I want to borrow money for, and grows my savings a bit quicker.
You are so funny and awesome. Thank you! I am going to do this.
This process worked for me in the 80s. I started with $10/check but left it in my checking, then stepped it up incrementally over time. I needed to learn to see *$0 available* despite the balance. Once I got stabilized I calculated expenses per week (minding the 5-week months) so I didn’t come up short on due-date heavy weeks because I spent the “extra money” in the middle of the month when nothing was due.
Loved the humour in this video. Also good advice. I've never understood why they don't teach this type of thing in schools.
The first UA-camr to throw some humour into the drudgery of budgeting/saving etc
Love your work! 😂
Love this advise ! Thank you!
Don't pay for whatnot, that is top tier financial advice right there!
Thank you! Great advice and a fun video! 😊
Savings is all about habit. If you can automate it, it becomes even easier and forces you to live within your means and stops accumulating debt.
I always tried to use the 10% savings model.
I taught my nephews as they were just starting to work that they should save 10% as soon as you got paid. If they made $150, are thet really gonna miss $15?
A couple of them actually followed it and were suprised how quickly it can add up.
Sometimes it can seem overwhelming when you are young, but soon get addicted as you see it grow.
I love that you mentioned a high interest account! I always recommend putting money into a high yield savings account (I've got one myself)! Many are free to open and don't have minimums. Solid advice to build a habit and save money! 😁
I believe you always need to pay off debt first!! Especially, debt accruing interest like credit cards. That rate is always going to be more than any savings rate. Also, spend within your means!!!!!
Thank you enjoyed your video. Very entertaining. Good information as well. I’m a saver. Thank you for sharing.
Banks are curiously weird, these days...
I kinda like the “leave-the-fitbit-and-phone-at-home-coffee-can-buried-in-the-woods” savings method, with a laminated paper map hidden elsewhere and a dead-man’s-trigger so your BFF gets the joy if you check out suddenly.