Hi Beautiful people, welcome to my very first YouTube video. I’ll be sharing my 5 top tips on how to save like a pro. We all know how difficult it can be to save and stay disciplined especially if you weren’t taught great habits early on in life. Hopefully this video will help you along the way to meet your saving goals!
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hello beautiful people welcome to my very first youtube video and dad done it thank you for pressing play and I hope you like this video here today I'm going to be sharing with you guys five things that I do to ensure that I'm living within my means and I'm saving to reach those goals that I've set myself to by the things that I want and yeah but just but things that I want really tip number one have a budget to have a budget is to have a plan mean a lot of people think that having a budget is a long drawn-out process that takes ages to complete and this is not the truth get your bank statement higher or your income highlight all your expenditure put your expenditure into categories these categories can be bills food and rent if you have more categories it all depends on what your expenditure is like from this you can set aside specific amounts to spend on certain things for example rent if you know your you're paying rent of 250 pounds a month you can budget 250 pounds all right the aim of a budget is to highlight exactly what you're spending which of these costs are fixed on which of these costs are variable which of these costs are unavoidable which of these costs will I have to pay every month or which of these costs are subscriptions I really don't need for example the gym let you know next month I'll go I don't want to cancel it because I probably go I'm from your bank statement you can immediately see how much just your onion and how much you're spending and what you are spending on you can then plan for the coming months how much you would like to spend on these areas you're in a better place to make a decision and how much you can save each month tip number two save first so we've done our budget you know how much we're spending you know how much we're earning and we know roughly how much we want to save now what we need to do is put that savings into action instead of waiting towards the end of the month and seeing what's left in that counts let's save that target money that 230 pounds that we usually spend on McDonald's let's save it as soon as we get paid not two weeks later not after we spent 500 pounds of McDonald's the first day that money hits our account it's the first day we should be saving so for me what I do is I say first I pay all my bills and then whatever is left to change I'm rich but to be honest anything clear I'm gonna check my bank right now see how much I have at my current account so in my current account at the moment I have three pounds and eighteen pets and that makes me happy I know I've okay No tip number three have separate accounts having a separate account is kind of a mental control system of all your money your current account you're more likely to see that as disposable income money that you have just to spend you and I both know that's not the case you know that you need that money for rent I know I need that money for rent so let's put this into a rent account so I have a separate rent account or I have a separate bills account or I have a separate insurance account split your money up and this is what you should be doing on the first day the money touches your account I'm not one for direct debits I have I have had to set up there with debits because you know it improves your credit and whatnot I can discuss that more in another video about how to improve credit I like to physically go into my accounts and move my money so I know exactly what it's for and where it's going and it's organized in my mind and I'm not just using my contactless card and paying for whatever Lisa bleep pay for however I wish cut it out have separate accounts move your money around and even have a separate savings account is also a very good thing to do so for example if you're saving for a house you have a savings for health account your saver for car you have a saver for car account just general emergency funds account you have three separate accounts saving accounts and maybe three separate current accounts tip number four and you gotta do this on the regular basis guys check your lifestyle check your spending what do I mean by check your lifestyle in the UK the average income for an average person is 27,000 pounds only if you're earning 27,000 pounds that means you're in a lower tax bracket of about 20% included and I could go up to as much as a person now think about this before you even get to touch your money the government is taken 20 to 30 percent of your income if you are struggling to say between 23% of your own income then there's serious trouble you need to check your lifestyle the taxman context you you should be able to text yourself some of you guys might need to move from wearing lace closures to where when you crochet braids from women human hair – I mean synthetic you might have to stop ordering water and lemon in a restaurant and mix a bit of sugar in it and make lemonade a mill nothing wrong with that when you first make the decision to save you going at it hard you are gonna have a drastic change in lifestyle and guess what you get used to it you're just you're adapt you survive we all want to live like Beyonce we all want to have Jason money but the reality is unless we're stacking up the bread now we're probably never gonna get there tip number five review your finances he's made this budget you've checked your lifestyle you say first you've done all these things but are you reviewing the numbers did you save how much you said you was gonna save check there's no point of your making a budget saving doing this doing that but then you still don't know where you said stand a good thing I like to do is do a savings by income ratio so this just takes an amount of money I've saved over my total income and I make sure as I said earlier that I'm staying between 20 30 % if you guys enjoyed this video give it a thumbs up subscribe comment below and I'll be back with another one