Tag Archives: ways to save money

How to cut down monthly bills and save more money

**How to cut down monthly bills and save more money**



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How to cut down monthly bills and the way I do it.

what's going on YouTube my name is ty my blocks the ex-king calm and others are very dark day today just getting my work and I want to shoot a quick video on how to save money on how to save money how to cut things out me a wife has done some custom bills out and some things that people might not have thought about too recently so you know saving money one way to make more money it's a save on money right no you know if you're trying to make more money the best thing to do is look at your bills and what can you eliminate it and we eliminate some bills and we dinner ourselves and one bill that we got eliminated was the pest control service the orchid man the man was a great service and we lead them because there was a poor service a really good service on knowing bad thing was that you know was paying seventy seven dollars every other month so just running it up plus tax the most eighty bucks every other month to monthly that's forty eight bucks a month and you know in the beginning yeah I'd used them guy had these spider crickets in my home Oh camel crickets with the column in my home and I got it kind of hard to kill so I got me a pest control service and get rid of them which is fine and dandy but don't you have a kid you know stuff got your cut so that's what happened well had my son and stuff had to go so I called and canceled them and I invested in a one gallon water sprayer which I'll do review about that I'm about to get tossed are pro top star P and I heard a good chemical insecticide to use and I'm gonna use that to keep the bugs out so I can spray the yard I can spray the trees the the perimeter the windows actually the backyard the front yard and it kills mosquitoes too one thing about the orchid man I didn't like that you know we worried nine to five it was very hard walk I put it I was working in the world before I went you know across the street what they call it so the White House I was on Wednesday Thursday and Sunday so Wednesday I got make an appointment for Wednesday they coming to house pray and be done since I'm working 9:00 to 5:00 mode through Friday and they close at five o'clock it's very hard to get them inside the home versus Saturdays and Saturdays they work every other Saturday and then why do scheduled for Saturday it'll be close my neighborhood there'll be there's nothing I close but they'll be booked so the past four times I'll call for Saturday they make it pretty booked so why do and when they do come to the house they always spray once every other month so I mean which is fine but when they do spray will be at work so I don't know what they're doing I don't know if they're doing a good job or not I don't know do the sprayer the windows are they spraying the whole foundation or spraying the bushes to I don't know I really don't know so yeah you know nothing about the service but it you wonder that's why I decided to get rid of them and to do it myself and the product of doing the self is to positive things don't think it's just prozac all I know the con is that I waste more time but will take me maybe you know 30 35 minutes to get this mix of chemicals together put some clothes on and spray the whole house use the whole gallon whatever but the pros are I save money and I know that the work is done I can spray it knowing the house but the bushes the grass the trees shrubs the backyard I have a shed as well in my back I can spray that as well there's a lot of spiders and bugs in there I can spray that as well keep the bugs out of there as well so it looks like it's a good thing I counsel them so that's one thing the next thing we have done is we go spaying a lot of money for home security and it was paying about 50 bucks a month that's a lot of money for home security and no one of our family members said they pay way cheaper internet I'll talk to Taylor 15 bucks a month that's why there's a research on that and I know do with just soft security systems is on the rise right now and and I I can also mine once I saw the price how much would pay you got paper clip in the front but your pay 10 15 bucks 20 bucks a month for home security and then you know what will get me long story short the company that I had got bought out three four times so I was paying $25 more than beginning which is not bad but every other year they got bought out and the price keep going up and no and then the thing is but my my equipment did get better stay the same so I decided to it Do It Yourself security system and I kind of enjoyed doing it once you do it yourself versus get so I also come to it it feels better when you do it do you know it's done you know that the doors got sensors when those got sensors everything so it feels better so I eliminated that bill when I eliminated well I got cheaper bill so that's that really helps so those two bills I I got lured or eliminated on one thing we did was I invested in a hedge trimmer I invested in a weed whacker and I put much cutting all the grass all year long this year last year I hired a guy he forty bucks two more long I was pretty hot last year and this year wasn't too bad but this year I did all myself so if you paying someone to cut your grass then you older person you can't physically do it keep paying that person cuz you wanna be out there hurt yourself but you know a young person and you could do it yourself going investing money into a lawn mower a lot more like 90 to 100 dollars and now I'm a lot more maybe four or five years ago it's still going strong so will pay for itself I invest into a hedge trimmer by sixty bucks I got your weed whacker for like 45 so I thought all these things to help me keep my lawn good into the winter time when I'm growing more and it saved me money so how to hire someone to do it so the way you do it in square cut your grass dam with it know what to spray that I got a sprayer I go I go and Samari outside go ahead make stuff up and spray and and be done with it and be done with it so those are some ways you can start saving money see what bills you got now lower than light bill is harder maybe gets on energy-efficient bulbs into efficient appliances for your car insurance try to call around different companies and see the benefits the pros the cons and the cost compared to what you're paying now awesome one other way that's kind of if you're paying 120 and coming constantly what's hard you send in five eighty dollars I'll go ahead and do it because over time it will save me some money so try that as well I think what's something else another thing you could do with foam service that have a rising horizon sprint all the plates are extremely high I have a rising fault 115 years I'll have about 15 you got every one was 30 there was expensive I was paying $90 for one line and now I'm paying 80 bucks for two lines for me and my wife so I was like okay I'm seven ten dollars about she online I got a line and we split the bill we was clicking wireless that runs up 80 phone service is fantastic so hey if you got sprint verizon thinking about going to a prepaid service that has great services to be there there's so many out there and they think service is just as good so there's a couple things that help you save money dude don't do it yourself do yourself a pain exterminator learn how to do it yourself body stuff buy the equipment by the pesticides insecticides it'll last you a long time tossed our Protoss therapy with an uber I wanna do review about that as well I did I see somebody bought a plan of that stuff it lasted my year so it's imagine it is like $31 so after one bus will last me a year so they'll try to do it yourself cut your grass yourself do your peasant roll yourself do your home security yourself monitored yourself through apps try get a lower phone plan try go to a prepaid plan copy pay plan your bill never just never goes up and down it's always the same try to use more energy efficient equipment I mean the devices in your home and try to cut out cable I made people I mean people my job paying to 20 to 30 a month doesn't cable internet it'll need these days the cable is dead I would rather using Hulu or Netflix was internet service and my bill will be cheaper I mean in you know my youtube channel I show you how you can watch movies and TV shows for the world real real low okay so there's no reason for you to pay to 20 a month and the cable and you work 40 hours a week and you have kids so how many shows do you actually watch besides power and they have they have none so I mean you only watch three or four shows Mable's with sports but you pay the 220 a month that's ridiculous give her the cable going Netflix go to youtube live YouTube labs like like 30 or 40 bucks a month so what's your internet by self might pay for it for the lives of my 12 youtube live you might I paying forward you've had a hard I was a month but you're cutting your bill in half if you cut your bill in half so these are the ways to save some money you can save some serious money by cutting things out you don't need you could do it yourself you call around get a better quote and everything else stop eating out so much know maybe from from September there is a timber to December you should try to save money because know why the hot got Christmas coming up new year's Thanksgiving you have a lot of family soldiers going out coming up Black Friday and you need money so the best thing you could do now as a stop T now say more money hoping high-yield savings accounts to put that money in cook cook you a big possible get eat that for two three days cook you some chicken wings eat number two three days make up Potter lasagna and make eat that for two three days and use coupons week a lot of coupons in the mail use coupons you get in the mail that also helps use cashback apps on your phone use the dollar app you get a dollar back and it's not a lot of money but over time adds up you usually get outside gas at a time you get gas you scan your gas receipt and you get cash back right now since I've been using a gas app hell I've been using it since April to September I'm a $61 that's my scaly my gas receipt that says free money so these are some ways to save money just rethink your bills what bill can you eliminate and what bill key made cheaper what Bill you do yourself cat cut the grass myself I'll do myself alone can I do I'll do this oh security system saves the money I have to do it myself I can I cut out this pest control bill cut out cable and go out with another lor bill can I cut out there's a verizon bill the Sprint bill that's a lot of money mobile bills a lot of money can I cut those things out but cutting those things out you will save money how I say my my light bill many more installation in your home energy efficient devices lights all key things off that's what also helped you know save on gas you know when you one thing I do like instead of me you know sometimes if you get out were a good time and he goes if you're already out go ahead and do your good shopping while you're already out they come home versus on your day off you know except you get your car and go to the store coming back you're burning gas how about you go ahead and go shopping while you're already out they come home that way when we can you don't have to go buy groceries you can do anything but stay at home and save that gas money so yeah the plenty of ways to save some money you want to save money by cutting up bills and expenses kind of things you don't need and what it could not faith you could do yourself that's security bill the security bill right now and the orca man and you throw cutting grass I probably save $150 a month just cut those things out and do them myself that's it and with the home security won't you just it's easy it's easy you just stick it you good to go you good to go and but this goodness says that once you have a cell it's done it's done you'll read nothing else you've got a checking it out this is done and in and with the pest control you do it once a month you do it once a month you do we cut the grass do it once a month so all these things have to cut out you do it once a month you do it once a month and you save money you save money so but anytime what else can calm I read a blog post about this as well I have more videos coming out and I got a new video coming out I'm gonna do soon Peyer tomorrow Saturday it's called the peace of hunt hack I got I find a way to get we want a piece of her pizza you get cash back on to apps that didn't know had on there and check that video out download all these links below the video acorns you know acorns get money back your account by buying stuff get the dogs out you don't say get the dogs out go ahead and get it and you cash back on restaurants by link below get the get up side gas app you just get your gas receipt you get cash back within four hours get couple dollars back over time adds up that link below the video as well my name is Tyler asking comm help you save money make more money hide the whole money and I'll see you next time

How to Save Money - Tips That Grew our Savings to 400,000 | Build Wealth

**How to Save Money – Tips That Grew our Savings to 400,000 | Build Wealth**



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We’re sharing our strategies for how to save money that helped us save over $400,000. If you want to know how to become wealthy, the key is to set financial goals and manage your money with intention. That means budgeting and investing your money wisely.

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We are Tasha & Joseph a millennial couple balancing kids, jobs, money, and life.

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today we're gonna talk about what it takes to save $400,000 hi I'm Joseph and I'm Tasha with one big happy life and we hope you find balance build wealth and live happy everything that you need to create the life that you want now before we dive into today's video we wanted to personally invite you to our brand new money masterclass the four essential keys to creating your financial dream life so this masterclass is gonna be all about giving you the financial tools and strategies that you need to create a money plan for the life that you actually want to live so you definitely don't want to miss out head on over to one big happy life dot-com forward slash masterclass to join us there live for all the good stuff yeah so this is the last time this year that we'll be offering a free live masterclass so you definitely want to go over and reserve your spot go to one big happy life comm slash masterclass and we'll see you next week right up front fYI poor Joseph is sick he is taking one for the team right now shooting this video with me for you guys so there may be some sniffles along the way just excuse there was one but alright so to kick this video off we wanted to start by taking a trip down memory lane right because we didn't always have a four hundred thousand dollar nest egg once upon a time he had zero so we actually started saving back in you know around 2011 and we eat yeah because for a long time we were in school especially me you know she worked for a little while outside because you know the Marine over here but we did do a lot of Education and while it would have been great for us to go ahead and put something away for a rainy day or retirement we didn't do that what we're in school yeah so we started in 2011 like a hundred dollars a month each and then it took us about four years to save our first hundred thousand now along the way we got employer matching and we always made sure to increase our savings every single year but then only about two years later we hit 200,000 and we actually did a video on it so definitely check that one out because I mean the the jumps from starting out to when you start really making some huge leaps it's a little bit different and it and it's really really fun yeah so then we hit three hundred and fifty thousand just earlier this year in May of 2019 there's also video about that we'll drop that down below so you can watch the whole journey which is awesome and now we are at four hundred thousand dollars which is really incredible I won't say though but the thing that we won't say is it's not unexpected right this is what we've been planning for from the very beginning we expect it to be exactly here exactly now and so we're gonna be sharing some of the strategies that you can implement in your life to create your wealth building plan yeah and so even when we started our savings way back in 2011 we still had the goals of when we were going to have a million dollars and we wanted to have a million dollars by the time I was 40 and so that is certainly still on the table even though like markets have been up and down and all that kind of stuffs going on but because we have made that that commitment and that we're definitely saving and we've saved enough and started to get more and more aggressive you know we're gonna hit that goal I feel certain yeah our millionaire target date is 2025 so that's about six years away so here's what's awesome also about hitting this four hundred thousand dollar milestone it means that we've pre-funded our retirement account so if we stopped saving investing today because all of this money is invested it's not sitting in a safe that's invested if we stop saving today investing today assuming an average rate of return of eight percent and the market has averaged ten over the past thirty years then we'll have four million dollars at retirement so we could stop saving today and retire very comfortably just on the nest egg that we've managed to amass up to now which is our like mid mid to late 30s and of course we don't intend to stop investing and saving that money for retirement but now each dollar that we're investing does one of two things or both it either increases the lifestyle that we can have when we're in retirement or it can let us retire earlier just depending on what we feel like at the time so let's talk a little bit about keys to success right and some of these are financial principles and some are kind of mindset money planning principles so we're gonna start with the mindset money planning stuff because really that is where it all starts so number one no one believed that you actually can build wealth we see so many comments of people saying things like oh I wish or oh wouldn't that be nice but the reality reality is that you absolutely can build wealth but it's about making the decision that you are going to start making choices in your life to help facilitate that like I just sent an email out to our newsletter and if you haven't joined you should head on over to one big happy live.com and sign up but talking about the five hundred and sixty-six thousand dollar mistake that I made which is that when I was 18 years old I didn't start saving $100 a month back then if I had I would have an extra half a million in my retirement account account at traditional retirement age just a hundred dollars a month and I absolutely could have saved $100 a month back then had I been more responsible with my money even though I was only making $14,000 a year I totally could have saved $100 a month yeah and kind of going hand-in-hand with that mindset that the belief that you can build wealth no matter what position you're in is then the next step making that commitment to start that saving and in any amount of success is broken down into habits and getting better habits create more success and so even starting small investing a little bit of money starts that habit and like Tasha said if she had started when she was 18 the habit doesn't have to be huge just a hundred dollars and has mega impact a half a million at retirement is a lot of it so we're gonna pause just gonna check on what's happening with the puppy hold on a minute all right now he's back so next you're gonna want to actually crunch the numbers so we see a lot where people talk about they feel like they're not gonna be able to accomplish this or that financial goal but understand that the great thing about personal finance right is that you can in theory take all the feelings out of it and start by actually just looking at the numbers so we teach in wolf Builders Academy how to know your numbers so you don't have to feel like you can't save you can look at your numbers and start crunching them so that you can see first of all exactly how much you need to save because you don't necessarily have to hit the same savings goals as us right you want to make a plan that is tailored to you and then also see where in your budget you can tweak and out completely outside of your feelings and sticking entirely in the numbers so the first step to getting rid of those feelings of overwhelm and feeling like you can't do with this or that thing is to start by understanding and knowing what you can factually and actually do according to your numbers yeah and of course Tasha's dancing around one of the other things that you need to do which is take those numbers and incorporate them into your plan so your budget specifically hopefully your one year spending plan because that is the best way to get your overall picture of what's gonna happen for the entire year and make sure that something is not gonna come up that unexpectedly later on because you have a full year plan for that alright so now that we've talked a little bit about some of the mindset type issues and you should definitely check out the other videos that we have done in this series because we have been sharing golden nuggets along the way now we can talk about some really specific financial principles that we've that we employ one of the things that we've done to ensure that our nest egg is growing the way that it should be we've taken a look at which accounts we have been investing in and made some strategic rollover its meaning we've taken money from one type of account and moved it over to another and the reason that you might want to do this is looking for investments that have lower fees or just better returns and recently we have had both happen to us so we moved some money from one of Tasha's retirement plans into another because it had better returns and and a lot more options for investing on top of that and then we are about to make another rollover away from an investing company that says they're gonna start charging us $250 per quarter when they're not advising us they're doing nothing or money's just sitting there and some ETFs so we're gonna move it over somewhere else that doesn't have any fees so the next thing and we talk about this a lot because it's a big one if you crunch your numbers and you recognize that based on your current I am also sick and I'm on the verge of sneezing hold it hard time you mean our current house okay so based on your current financial picture if you look at your numbers and you're not able to hit your minimum savings rate you're not able to hit those savings goals then one of your best bets is to look for ways that you can grow your income and that doesn't necessarily mean side hustling it could mean and we highly recommend growing your income in your day job another thing that you should definitely do to help your in saving and investing habit is to go ahead and automate your savings so contact your employer's HR department if it's that big or just your boss and say hey I would really like my retirement investing to just come straight out of my paycheck where I don't even have to think about it and then have it just go immediately into the investments that you want hopefully you have that option as well the more steps that you can take out of your decision-making process the better it is and so you can you know make these decisions when you are you know best equipped to decide hey this is plan as opposed to you payday when you got that money you're like oh my gosh it's payday I want to go do this I'm gonna go out and this is hard to make those decisions so go ahead and automate it have automatic transfers so much better and then lastly don't be afraid to reevaluate your goals as necessary so a few years ago when Joseph and I decided that we wanted to bump up our minimum savings we were actually thinking that we might go ahead and retire early like retire in our 40s with just a million but over the years our vision for our lives has really changed and we realized that we enjoy doing things that cost more money things like being able to travel internationally even right now it's once a year but maybe multiple times a year things like being able to donate generously to causes that we believe in and so for us just stopping at that million and then retiring and living on like thirty thousand dollars a year which is very valid but you know we've just decided to pivot and so for us that meant we're not gonna stop working in our forties we're gonna push on probably to our 60s and Beyond and so the choice that we made is okay how can we live fulfilling enriching happy lives and continue to work and continue continue to build our nest egg in a way that makes sense and feels very natural and authentic to us yeah all right I hope that you take all this advice and our experiences to heart and can save however much you want for your retirement dream life and don't forget to sign up for the money master class at one big happy live.com slash masterclass see you next week right

11 Quick Ways to Save Money at Home

**11 Quick Ways to Save Money at Home**



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Looking for quick ways to save money at home? Here’s 11 great ideas to get the ball rolling. Which one will you try first?

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#SavingMoney #Budget #RachelCruze
– You guys, I swear by
those three recipes. They are so good, so good. All right, here are 11 different things that you can do at home to
actually save you money. Number one: Make snacks. So instead of buying the
little individual packs of your kids' snacks, buy
the big thing at Costco, and then put it in little bags. This is what I do. It's kind of a pain, I know. But listen, you're gonna
save so much more money doing that. I promise. Number two: Have everyone bring a dish. Yes, so if you are hosting a big party, have everyone bring
something so you're not the only one cooking and
spending all the money on food. Number three: Learn to turn a wrench. I'm preaching to myself
here, people. (laughing) This is good. I've learned
to do a couple of things, and it actually saves you
money if you can fix things like your toilet or your air filters— you can change those out. Different things like that
can save you a lot of money versus calling someone to do it. Number four: Learn to sew. Now I'm not talking about
some like elaborate, beautiful smock dress,
even though I love those. I'm talking about just fixing a button or something that's torn. Sewing it up so you don't have to go buy new clothes. Number five: Organize, organize, organize. Yes, when you start to organize things, you'll find that you don't need half the things you have. You can throw it away
or even sell some stuff— get some money that way. But also, in the end,
you're just gonna feel more refreshed and more organized versus going out and spending more money on stuff that you don't need. In fact, I did this. I took the minimalist challenge. If you don't know what that is, check out the other
episode with The Minimalists, because it was amazing. And I threw out and sold so much stuff, you guys. And it was incredible, trust me. When I say to organize,
oh, I love it so much. Number six: Always negotiate. Winston is famous for
this, calling Comcast every quarter of the year to see if we can get a better rate on our cable. So when you get prices like that, don't just say, "Okay, we'll take it." Ask if you can get a better deal. Number seven: Hang dry your clothes. Now, you might be a little
bit iffy on this one, but trust me. When you actually don't dry your clothes and you let them air dry,
the quality of your clothes lasts longer so you don't have to pay for new clothes as often. Number eight: Share baby gear. Now, I'm not talking about old
bibs and that kind of thing. I'm talking about swings,
like the big stuff. My sister and I did
this. The way our babies have lined up, we don't need a swing. I don't need the swing,
so she takes the swing. And when she doesn't need
the swing, I take the swing, because I end up having a new baby. It works perfectly. So if you can find those big things, find a mom in your area, do that. That will save you a lot of money. Number nine: Don't pay
full price for kid clothes. Listen, they grow out of them so fast, especially if you have little babies. So, do some things like swapping with other moms in your area. Swap clothes or even do consignment sale. My spiritual gift: I
always find the best things at consignment sales. I love them so much, and
you save a ton of money. And number 10: Learn to
say no to fundraising. When there's a knock at your door or the doorbell rings, it's always some sweet middle school kid
trying to sell you things, and some of you, it might be your sweet middle school kids. So there's a part of all of us that wants to help, but when you're dishing out $20 or $30 for every kid that knocks on your door, you're spending a lot of money on stuff that you're not gonna use. So, learn to say no to certain ones and have some boundaries. It's okay. All right, last but not least, save money on checking your insurance. This is huge. And I'm talking about your home insurance, your auto insurance, all those things. Most people forget to do this. They just set up their insurance, and they don't look. But go and see if you
can get a better deal. Go check out our endorsed local providers. In fact, people that do this, they save on average $731 a year. That's a lot of money. So those are some quick,
easy ways, 11 ways in fact, for you to do things at
home to save you money.

How I Save More Than 69.5% Of My Income - Financial Independence

**How I Save More Than 69.5% Of My Income – Financial Independence**



Views:122408

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In this video, I break down how I save more than 69.5% of my income to potentially reach Financial Independence. I haven’t officially decided that I want to pursue Financial Independence Retire Early (the FIRE Movement), but I know to accomplish this I need to at least save half my income.

If you’re able to save more than 50% of your income, spend less in a few areas, invest more money, and make more money then you’ll be on the path to achieving Financial Independence or even Early Retirement.

Even if you’re able to save more money by doing half of the things I teach you then you’ll be on your way to giving yourself a chance to increase your savings rate even more!

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#moneysaving #firemovement #savingsrate
– Every now and again I like to sit down and take a deeper dive into my finances. When I was running the numbers recently, I realized that my
savings had jumped by 10%. Okay so I don't actually
save 69.5% of my income, but I do save 70% of my
income every single month. So in this video I'm
gonna walk you through how I save 70% of my
income every single month. The goal is to hopefully
give you some ideas to explore for yourself so that you can greatly increase your savings rate kinda like I have. If that sounds interesting to you, then please Hulk Smash
that thumbs up button. I would greatly appreciate it, and it helps show my mom that I'm not as big of a loser as she thinks I am. I think it's safe to say that there is a big savings problem when it comes to Americans, not because we're all idiots, but because you don't
know what you don't know. But once you know it, it's one of those things
where you're like, oh okay I get it now. It's the same thing with maxing out your savings rate. It's honestly not rocket science and way way way more attainable to increase your savings
rate than you think. I would go as far as saying
that everyone watching this is able to do 90% of the
things that I'll show you. But even if you can only do 50% of these things that I talk about, then that right there
will greatly increase your savings and investment rate in a way that you didn't
even think was possible. Now when you hear that I'm
saving 70% of my income, then your natural thought may be, well, you must make a lot of money then, or, you must be so deprived that you're not enjoying your life. Actually I have pretty much
everything that I want and need. If I want something,
then of course I buy it. There is zero deprivation or cheapness going on over here in this house. If you wanna make this happen, then you just have to
get a few things right. Don't forget to hit that Subscribe button if you want more personal finance
videos just like this one. There's also all kinds of
playlist in the subscription for you to check out
after you watch this video to help you out with all of
your personal finance needs. Let's get into how I save 70% of my income every single month right meow. The first reason my savings
rate is so high is that I don't have kids. Now before you get all angry, start typing ignorant
things in the comments and giving this video a thumbs down, I'm just being honest, and I'm owing the fact that this does play a role in my high savings rate. So Hulk Smash that thumbs
up button for honesty. This is coming from a guy
who really likes children and is absolutely open to
having kids in the future if I can find a smokin' hot wife that wants to have all of my babies. Saying I can. – I can. – I can, we don't say I can't, we say either I can or I will try. – I will try. – I will try. We don't say I can't. – No. – No, we say I can or I will try. – I will try. – There you go, good job. Or maybe I'll even adopt a
kid in the future, who knows? But I'm able to have more
money in my pocket today since I'm not caring for a cute and sometimes annoying little monster. The more important thing
to take away from here is that if you have kids now or gonna have them in the future, don't let the fact that you have kids prevent you from increasing your income to increase your savings rate. It's one of those limiting beliefs that's extremely easy to
fall into if you're a parent because you're already working hard enough caring for these kids, so how in the world are you supposed to
make more money as well? The majority of my friends are parents and a lot of them have found
ways to increase their income in ways that they never thought before. Another thing parents can do is make their kids work
as early as possible and start paying for things on their own. This can greatly increase
your savings rate if you are a parent. Now I know when I was 14, I started working and paying
for everything myself. And I honestly think
it's played a huge role in shaping who I am today. You should also force your kids to apply for scholarships if they go to college so you don't have to worry about having to save money for them every single munch, munch, munch, month which will greatly
increase your savings rate. Paying off $82,000 of debt in four years is still one of the best
decisions I have ever made. It's also a large contributing factor to how I'm able to save and invest 70% of my income every single month. My debt consisted of student loans, a credit card, and a car loan. Carrying debt has become
so common among Americans that it's something that
everyone just accepts as something that they'll always have, kind of like that pet turtle that I got from one of my exes. That thing is gonna live forever. Bad debt will be one of
the largest destroyers of your wealth above anything else if you allow it to hang around
until the day that you die. It's like lighting money
on fire every single month. Not only are you losing money through the interest that you're paying, but you carry around
this large amount of risk everywhere you go. It follows you forever. Forever. Name that movie in the comments if you know what it is. When you carry a bad debt, you lock yourself into being vulnerable to the insanity that's
already here in life. Your back is instantly in a corner every single morning that you wake up, and whoever you owe money
to literally owns you. They own your thoughts, they own your feelings, they own your emotions, they choose what you can and can't do, and they own your happiness. Stupid people spend money
that they don't have on things that they don't need. I decided to stop being stupid and only buy things that
I can actually afford by saving up for it. You can't know how much you're saving unless you know where it's going. Because of this a budget
is extremely important to my ability to be able
to save 70% of my income. Budgeting isn't about being cheap at all. It's just a way for you
to direct your money and tell it where to go as opposed to having it tell you where it wants to go which is usually right down the toilet if you're not paying attention. I recently heard about an author that was trashing budgets because he said that they prevent you from earning more money and being happy since they force you to cut back. He said it gives the
person a scarcity mindset. My answer to this author
is you sir are an idiot because what prevents a
person from making more money has more to do with the person not going out to pursue more money. A budget has absolutely
nothing to do with that. A budget is a way for you
to prioritize your spending so that more of it goes towards things that actually make you happy and will improve your lifestyle today and in the future. I think there has been
enough studies done on this that buying more things does not correlate to becoming more happy. So if you love buying clothes and that makes you the happiest person in the world, then that's great. Budget for clothes and buy those clothes. If pursuing financial
independence or retire early will make you super happy, then great. Budget your money so that you can achieve financial independence
or an early retirement. Can you increase your savings
rate without a budget? I'm sure you can, of course you can do anything you want. But I could also go swimming
with sharks and not get bit, but I'm still not gonna
hop in that ocean to do it. No thanks, no way. You can jump in on your own if you want. The next reason I'm able
to save 70% of my income is that I don't spend
insane amounts of money on car purchases. Does this mean that I only drive beaters? Nope, not at all. Instead I choose to buy
more reliable car models that have a better track
record with cash of course. The with cash and used parts
are the keys to success. Since I pay cash, I don't have to shell out extra money every single month through that interest that I'd be paying. I actually haven't paid cash for a car yet since I still own a car I
used to have a loan out for, but I finally have enough cash sitting in a high interest savings account for when my current car dies. And when that time comes,
I'll buy a used car preferably something over five years old to avoid that depreciation that
everyone faces on a new car. Five years is the secret
number since the average car loses 60% of its value
through depreciation within the first five years. So instead of paying interest
by taking out a loan on a car, I now save that money in a
high-interest savings account where I make money while
that cash just sits there until I buy my next car. You'll never find me taking a loan out on a car ever again in my life. This one has actually been easier to do than most people make it out to be. I spend a very minimal amount of my monthly income on housing. By minimal, I'm talking way less than 15% of my take-home pay. I've seen stats out there saying that the average housing costs are roughly 30% of most people's income. Knowing this it was
extremely important for me to find a way to lower this amount by as much as I possibly could. So I bought a house for
a very modest amount. To be honest with you I think that most homes are money pits. A lot of people look at
their home as an investment, and sometimes they are, but to just assume that buying a home will somehow generate you a return is the wrong way to
look at a home purchase. My home isn't a complete dump at all. I actually think it's a pretty nice house for a cheap price that I paid in the area that I'm in, and plus none of the
women that I ever dated have felt unsafe in this area either. So that's a win in my book. Will I buy a more established
home later down the line? Possibly, but until then I'm
banking all of the extra cash that I would be paying for a nicer home, and letting that money work
in my favor for investments. Another contributing factor
to my high savings rate when it comes to housing is that I live extremely close to work. Like five minutes, 10 minutes tops. Not only does this save time but it also saves money
when it comes to gas and the wear and tear in my car. When it's nice out, I'll even throw my tennis
shoes on and walk to work. I get that not everyone can do this, but I bet that you could find a way to make this work for
your specific situation. Unless you live in a
high cost of living state like California, then I would just tell you
to move somewhere else. If you're interested in getting an idea if you live in a high cost of living area, then I found a website that
you might wanna check out. It is called bestplaces.net. Head to that website and type
in the city that you live in, then click on the cost of
living link to the side. It'll rate your city based on
the US average score of 100. The sixth reason I'm able
to save 70% of my income is that I don't have a girlfriend, so naturally there's
more money in my pocket. Don't get mad, I'm just kidding, kind of. But I am very conscious
when it comes to dating. In the past the first couple of times that I would meet a girl, I would spend a lot of money
taking them out to dinner, the whole wine and dine thing because that's just how I was raised. But after a while I looked at the amount of money that I would spend and kind of threw up a
little bit in my mouth, not because I wasn't
attracted to any of them but because that money
really really adds up especially when you're a
lifelong dater like I am. I knew that I wasn't gonna stop dating to keep my savings rate up. That'd be a little bit ridiculous. But I knew that something
needed to change. Now I have a rule when it comes to dating. The first few times that
I hang out with a woman, I either take them out for coffee or we do something that's fun
for free or very low cost. Not only does this save some money until I decide if I really like this girl and actually wanna
spend more money on her, but it also prevents any bad decisions that may be made if I went out drinking at a bar with a
girl on the first date. I know this might be strange
to some of you out there but I'm trying to avoid
an illegitimate child with a woman that I don't like. I guess I'm weird like that. The takeaway from this one isn't to break up with
your significant other, but instead talk about your money goals so you're both on the same page. The next way I'm able to save 70% of my income is by fasting. Now I know this isn't for everyone and I'm not telling you to fast. But getting on a diet where
I only eat twice a day or within a specific feeding window has decreased how much money that I spend on food every single month, plus I like the other health
benefits from it as well. Don't worry I won't nerd out on that kind of stuff in this video. If fasting doesn't sound appealing to you, then get on a different
diet that you'll stick to. The main reason this is
gonna help you save money is that it puts more
structure around the things that you're putting into your mouth, and not in a gross way you freaks. Get your mind out of the gutter please. Instead of snacking all day
like you're on a buffet, you'll get a better
handle on your food intake which will have an
impact on how much money that you're spending on
food every single month, plus you'll start to feel a
little bit better in general. The eighth way that I'm able to save 70% of my income every single month is by making my health a top priority. A New York Times article cited a study that exercising can save you $2500 per year on medical costs. This study looked at over
26,000 men and women. It concluded that inactivity caused the United States economy almost 28 billion dollars
in medical expenses and lost productivity every single year. That's exactly why you see
many companies out there that have fitness and
health focus programs. It saves both you and them
more money in the long run. Here's the three areas that I focus on when it comes to my health. Number one is my nutritional health, the food that I eat. It kinda goes along with what I mentioned with fasting. Next is with my physical health. I built a garage gym that I work out in. I do indoor workouts. I'm also at my local park
all the time running, hiking, and doing some other things that are very physically active out there. Lastly I make my mental
health a top priority as well. You may be questioning
how this saves money. The way that I look at it is that if my mental health is in order, then I can be an even more happy and productive human being in general. I take care of this mental health through daily meditation and writing. The ninth way I'm able
to save 70% of my income is that I don't ever get a raise at work. Okay I do get a regular
raise from working my job but I don't ever see that
money in my monthly paycheck, that's because every pay increase that I've received over
the past couple of years has gone straight to investments. So technically I never get a raise. My over all wealth gets a raise. If I get a $10,000 raise at work, then I calculate how much of it I'll actually be taking home, then increase my
investments by that amount. Out of sight, out of mind until I calculate my net
worth every single month and get a great big smile on my face once I see that number start to grow. Some people might look at
this as me depriving myself but it's not like that all. I've been able to find the
amount that I need to live on that makes me comfortable and happy so I make it a point to
stick to that number. The 10th way I'm able
to save 70% of my income is because I'm a bit of a minimalist. But it's not like I don't own things so minimalist isn't the best word for it. I guess you could say that I'm more of an intentionalist if that's even a word. I like spending money
but only on the things that really bring me value and happiness. Minimalism has taught me
to kind of take a step back and question how much value
something is going to give me if I do end up bringing it into my life. It's made me realize that
buying more and more things doesn't make me happy
which in turn has saved me from spending money on useless things just to keep up with the
Joneses whoever they are which in turn has given me the ability to save more to invest. Last but not least, I use credit cards which saves me a pretty good amount of
money every single year. I know that Dave Ramsey tells
you not to use credit cards and I have a lot of respect for Dave because he's an OG in the
personal finance space. I don't agree with everything he teaches but I got respect for the guy. But I've been able to be responsible with my credit card use. And if you're able to be responsible when it comes to your credit cards and pay the balance
off every single month, then you can reap the
benefits of the rewards from those credit cards. As of today I make roughly $600 per year from my credit card use. That's more money I'm making for basically buying things that I would have already been buying. I'll be doing more credit
card hacking this year so that $600 will most likely be turning into things like rewards towards airfare but it's still the same idea. If you don't feel comfortable
using a credit card, then don't do it. But if you feel like you're ready and you can handle it, then quit leaving money on the table and go get a credit card with really good rewards. Don't forget to check out
the description down below for more playlists to help you out with all of your personal finance needs. Let me know in the comments down below what you do to increase you savings rate or what you would like to do. I'd be willing to entertain more ideas if you have any that I an use. Don't forget to Hulk Smash that thumbs up button to support the channel. It helps me out a lot and I appreciate you for it. If you want more personal finance
videos just like this one, then hit that Subscribe button
and the notification bell so YouTube knows to deliver them to you. Make sure to pick up your free copy of the Debt Free Prep Workbook that I made just for you. The link is in the description. I'll see you in the next one friends. Adios!

Why saving money doesn't work.  (And what does...)

**Why saving money doesn't work. (And what does…)**



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Ex-Google TechLead tells you why saving money doesn’t work. Check out Ting mobile service for a cheaper pay-per-use cellphone plan and get $25 off your bill:

Should you buy that $5 latte? Quite frankly, it’s just not going to matter. We all know that $5 never changed anyone’s life. But it’s not about the money. Rather, it’s the mindset of consumption that will be your ruin.

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hey template here and welcome to another episode of the tech lead I'll be your host a tech lead and for those of you who don't know me I am an ex-googler tech lead it is coffee time with the tech lead now given my level of success and as a multi-millionaire I believe that I not only have the credibility but the authority and the right to tell you about how you should and should not save your money how you should spend that money and when I'm here to tell you about is why I think that saving money doesn't really work should you be going out and buying five-dollar lattes is that okay whether I think about that and my reasoning for you is that sure it's fine go ahead go buy that latte it's not really going to make a difference Indian anyways it's really more about other things though you know for example if you were to go buy a shirt like this shirt there respect the Tecla shirt which you can go buy a 1995 link in the description below amazing quality is just not going to make a difference in your finances but to me what is really disturbing more is about that hunger you have for this shirt and how it's not going to release upside if you don't buy it right what's going to happen is you're going to steal my other stuff you're going to want boots you're gonna want shoes pants car right you still might want a Porsche a Louis Vuitton bag you still want the good stuff that high life and so my concern for you is that not buying that single shirt is just not going to solve the root of the problem that source of the problem that hunger that desire is still there and at some point in your life is going to crop up if several years from now you go and you buy yourself of the week wheat on hand back for a few thousand dollars that's going to wipe out all of the savings that you've had over the past few years simply because you never really quite solve that initial problem so if you want a shirt if you want the shirt then I recommend you just go buy it and you know Who am I to tell you how you can and cannot spend your money so to me saving is really all about the right habits and if you can come up with the right habits then over a long period of time say throughout your whole life is going to save you a ton of money when the example of this is actually your cell phone bill every month you may be paying $60 for it and that's fine here and there but if you calculate that and sum it up over your entire lifetime you're going to find out that it's actually costing you a ton of money and that's where our sponsor comes in I've got you guys set up with t-mobile check out my tech lighting calm ting is a pay-per-use cell phone plan provider so if you're using a contra cellphone plan where you have to pay like $50 a month $80 a month and you get a bunch of random stuff that you don't really need you may be paying for a ton of extras that you're not really using in your contract and you just have to pay that month after month like maybe you're getting unlimited texting which you don't really care about you don't really use that that much because these days you're just using apps like messenger Hangouts whatsapp and these days I also just use Google Hangouts to do my voice calling and they even data I don't use they thought that much most of the time idea on the Wi-Fi network when I'm at work we're at home so several years ago I moved over to a paper use phone plan and I got my whole family on this sort of plan as well so I would highly recommend that if you're not on paper use you check it out completely contract free they send you a SIM card for like a dollar you plug that in and then you're set to go I'm getting you guys $25 off your first bill tackling.com so on the topic of that habits another good one is to avoid drinking when you go out and I've managed to save so much money it's not just that one time cost right this is something that accumulates day after day month after month and over the course of your lifetime it really starts to add up learning to cook taking care of your health choosing your hobbies wisely and so we need to focus your own or not those one-time savings but the savings that can really add up over long periods of time and I think that's one reason why if you look at the old sites these deal sites maybe they save you a few bucks here and there but they don't really save you that much because it's just a one-time thing they're still fun to do but to me there's not so much a way of saving money as much as just a hobby I might also suggest that you ditch your stupid friends if they're the type of people who peer pressure you into buying high-end brands and materials and they laugh at you this is really just a lifestyle decision a lifestyle choice that can pay dividends over the long term by getting rid of unproductive people in your life now another tip I have for you here is to understand that there's more than one way to save money you can also save time because time is money your time is valuable it's worth something and it's easy for anybody to convert their time into money you just pick up a freelance job go drive some uber cars going up work Craigslist there's tons of people are willing to pay you for your time for skill list labor oh really and you can make some pretty good money that way and so if you were to just be able to free up a lot of time for ourselves to be able to do other tasks then that's another way you can save money in fact so the key here is avoid things that are highly time-consuming watching TV is one example of a hobby that is highly unproductive when I hear people say that they save money by stitching their cable and they switch over to Netflix because it's a few bucks cheaper a month they haven't saved much at all really because they're still spending all of their time watching TV and they may even be spending more time than that they may have actually lost money lost value that way to me it's not so much about self in few bucks a month but I'm concerned that that habit of watching TV for two hours or three hours a night every single night that's still there the habit of consumption and wasting tons of valuable time that's the elephant in the room that's still there what we're really looking here at is given that extra time and money that you're able to save what are you able to do with that and I would say for most people one goal is to start a side business and they can even be freelance work but once you have a side business you're able to take tax deductions on all this stuff if you're to go buy a laptop with a side business you automatically save like 30 to 40 percent just on the taxes on that stuff you know any business expense you start saving a lot of money on all this stuff it is better than any deal that you can find online and you need to keep in mind that $10 spent is not the same as ten dollars earned due to taxes right if you want to go spend ten dollars you actually have to earn like fifteen dollars or even twenty dollars for some people now another major tip I have for you here is to learn to leverage your family a lot of people like to ditch their families they think they're better than them and they just want to go up and make it on their own be all independent and all that but you end up wasting tons of money that way your family has a whole bunch of resources and you were living free on those resources before you decided to move out and so a lot of your personal expenses I'll say 50 to 100 percent of your personal expenses don't really need to be there housing is a big one it Trump's almost everything and if you were to live with your parents for a while you could save so much you know around here in Silicon Valley housing costs at least two thousand to four thousand dollars a month I pay four thousand dollars a month you imagine how much money I could save on that if I were to just go live with my parents I could be buying a Tesla every single year and still break even if I just chose to live at home your family may also have a bunch of appliances furniture vacuum cleaners spare cars all of that stuff can be shared these days it seems that everybody wants to be a professional chef because it's become consumer eyes you just go to William Sonoma everybody wants a high-end knife set everybody wants their high-end pots and pans you know all of this stuff can actually be shared though in reality if your parents have a really good pot or pen you just go bottle that if you have a really nice steak maybe once every month or so and what you want to go try and cook that another tip is really tracking your expenses and I mean really taking a look at them I know a lot of people they don't really check their monthly expenses they just kind of haphazardly do it but really took a look at where money is coming in and where it's going now and tracked each expense and question each one right like as we mentioned before your cell phone bill that's a pretty big chunk actually I would say for a lot of people it's like 60 to 100 dollars a month and you know you can question that like think about do you really need to be paying that Netflix is another one which I think a lot of people are paying for which you don't really need so much right like I don't subscribe to any TV services I just watch some basic YouTube i watch a few ads here and there and that's fine it's OK for me and I actually enjoy watching advertisements speaking of which check out tackle eating calm and you can also buy my shirt here a few years back I started to really look at my receipts at grocery stores and realized cookies granola bars cereal that stuff costs a lot those were some of my biggest expenses it would cost like ten dollars for a box of cookies and for ten bucks at a supermarket you can actually get like a steak or something like that so I used mint.com which we're not sponsored by but you know services like that you can check through all of your transactions across multiple credit cards I'm just watching off any outflow of money very carefully especially because I won this such that any time money leaves it is intentional another good habit is to learn to resell your stuff anything I buy i buy with the intention of reselling i save all of my boxes I keep the gear especially electronics in good condition and I regularly go on sites like eBay or Amazon sellers to resell my stuff and then the last tip here is about changing your mindset which i think is really the core of the problem you have to understand that not everything that glitters is gold in the sense all of us are already rich compared to people in lower rungs of society we just keep wanting more you know and that's really endless you just keep climbing that ladder of all these Jaguars Porsches or if it's clothing you want Deb Banana Republic diesel Burberry Louis Vuitton you just keep going up that ladder if you want to and what's really going on is you're getting into consume what sorry I call it that you get yourself into this cycle of consumers and where you just keep wanting and wanting more and that's the source of the problem you need to learn to stop wanting so much stuff right be focused on what you want know what you want and just get that only right but you don't want to keep getting yourself into the cycle where you want this you want that you just want everything and it's really aimless for myself I'm not really interested in consuming other people's stuff I like the producer side right I like to be the one making this stuff like this shirt and then I won't wear this right I don't really want to go wear a Louis Vuitton shirt I want to wear my own shirt as a photographer I don't want to buy other people's photos I want to frame my own pictures I take and as a video producer when I watch TV i watch my own videos so let me put it this way to me saving money is not about being cheap it's about the type of person you will become if you get overtaken by consumers and you get out of control that way right if you're always thinking about the latest brands which car you want which heart you're gonna drive which shoe you want to buy all the hobbies that you've taken up all of the TV shows and movies you're gonna go to the concerts the events it's all of that stuff that's going to cause the most damage for you because it's going to consume all of your time and you're not going to be able to produce you just become a pure consumer at that point that is the point of saving money it is to help you develop the right habits and mindset to avoid becoming a pure consumerist so says some limits for yourself and realized that it is not so much about saving a few pennies here and there it is about the lifestyle that you create for yourself let me know your top tips on saving money if you like the video give the like and subscribe and I'll see you next time bye