How To Become Financially Stable In 9 Steps | Clever Girl Finance
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- Опубликовано: 2 июн 2024
- Have you ever met someone who never seems to worry about money? They have extra cash for the things they want, and, always have the money to pay their bills in full - even the unexpected ones. This person is likely financially stable. The great news is you too can learn how to become financially stable with a little bit of work.
Do you feel financially stable or are you still working on it? Share in the comments!
In today’s video, we are going to discuss key tips for becoming financially stable. Let's dive in!
#financiallystable
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Don't let men use you for money I learnt that the hard way!
LOL funny but so true.
Explain please 🙏
@@marisacillahi1537 Explain what?
@@shayemoore the statement woman comment ( don’t let men use you for money I learnt that the hard way )
@@marisacillahi1537 I see what you mean now. Thankfully, I never had to learn the hard way cause I don't give men a dime of my money.
Thank you for this video. I am $100. away from a goal of $1,000. Emergency fund. Your video is a learning part of my learning process. I am 64 years of age and appreciate finding a way to feel in control of a.bit of my own life. I am willing to learn from a young person something important. "Out of the mouth of babes comes wisdom".
Thank you for sharing your comment. I’m 41 and feel like it’s so hard to get ahead with saving for an emergency fund.
You are doing so great!!
Your advice is always so helpful. I remember watching one of you videos when I was unemployed and my financial situation was a mess. I was getting pink notices in the mail and my car was about to be put on the repo list. About 6 months later and now my car is about to be paid off, my credit score has improved, my savings account has a comma in it, and I am almost two months ahead on my bills! My spending has been a little out of control lately since I am moving, but I came here to get back on track! Thanks for everything! ❤
Everytime I watch a video like this, I cannot help but to feel sorry for my younger self. At that time, I was so financially iliterate that I would spend the small amount of money I was earning in thrash food, crappy clothes and insignificant things here and there. I did not know better... I will try to teach my kids about finances so they don't feel miserables like I was. Not knowing my worth, made me accept people and situations not good for me or anyone. Thanks for this videos.
Me too
We all make mistakes - now you know better you can do better! Take the lessons and keep moving!
I don’t consider myself financially stable, but lm on my way there
Step 1: Get to know your current financial situation
Step 2: Use goals to become financially stable
Step 3: Adopt a frugal lifestyle
Step 4: Avoid unnecessary debt
Step 5: Build emergency savings
Step 6: Pay yourself first
Step 7: Improve your financial literacy
Step 8: Make financially stable career/business moves
Step 9: Make room for fun
Thank you!!!
Thank you
This BS does not work in the current economic climate.
Thanks
❤
🎉!Yay!🎉
Where divorce is rife, prices of everything have increased, 50/50 is the new dating, having good finances is a MUST! It really isn’t a choice. I don’t think all my girlfriends understand that yet. Making money while you’re young , while you have the energy to make investments and actually live your best live in your 30s is so important.
Agreed!
Omg girl I read that as if you were a man and got so concerned when you said “all my girlfriends.” girllll 😂😂😂
@@theartalli 😂😂😂 that would be pretty wild, but there certainly is guys who rock like that out there : /
@@theartallime too because 50/50 is cheap men talk 😂
The emergency fund, paying yourself first, and learning better ways to invest are the tips that really resonate with me. Thank you 😊
Thanks for tuning in!
I wish it was broken into time stamps but this is such a great list
It will be soon!😊 thanks for tuning in
Hey Sis, we are living in a different world now. It is becoming harder and impossible for some to become financially stable. It's not about poor financial habits anymore. The value of our money is shrinking because the cost of living, goods and services is increasing exponentially. We are budgeting. We are frugal. We are avoiding unnecessary debt because we don't have a choice. Yet, we aren't financially stable but financially scared.
This all so true I try & try to save as little as 5$ each Pac period but once I get to my little goal of lets say 50$. Here come something else out of the blue that needs to be done or paid. Its not as easy as everyone thinks it is. So thank you for speaking the truth about this
You have to find out a way to make more. That’s the only way to be financially stable. That’s hard in itself. We need more videos about ways to make money
😢 so real for me
It’s all in the mind. Change your mindset to attract money and it flow to you.
Excuses. If you believe in excuses you’d never make it.
Sadly, banks continue to stumble, mortgage rates is on the rise with higher imports and lower exports, yet the FED is to lessen cost. So, where do we grow and safeguard our money now? something will eventually break if they keep raising interests and quantitative tightening.
ideally, you should consider financial planning to get the best results with your money, notwithstanding economy situation
Well agreed, I'm quite lucky exposed to finance at early age, started job at 19, purchased first home at 28, got married shortly afterwards to raise kids early. Going forward, got laid-off at 40 amid covid '19 outbreak, immediately consulted with an advisor in order to stay afloat and after subsequent investments, I'm barely 25% short of $1m ballpark goal as of today.
that's incredible! would you mind if I vet your advisor pleas? started investing in stocks november 2022, but not confident to make the correct investments as of now, seeking professional help to achieve my financial goals
Catherine Morrison Evans is the advisor that oversees my portfolio. She's been able to gain some reputation and online recognition with over two decades in service, so it shouldn't be a hassle to find basic info.
this recommendation came at right time, very much appreciate it. curiously inputted her full name on my browser and found her site top search, over 20 years of experience is certainly striking!
Yes, I feel financially stable.
hey tyresse, lend me a billion dollars XD
@@thestream1lmao
1. Get to know your current situation
2. Use goals to become financially stable
3. Adopt a frugal lifestyle
4. Avoid unnecessary debt
5. Build emergency savings
6. Pay yourself first
7. Improve financial literacy
8. Make financially stable career/business moves
9. Make room for fun
Thank you!
Thank you for helping the community by capturing this. Pens and notebooks ready.
I am 26 and living in an Eastern European country where 1000EUR will afford me a comfortable life. I have been cooperating all of these practises in my finances: set aside 30-40% of my income to put in bonds, live frugally and have emergency fund of 3 months of my expenses. I am also working on getting a promotion at work and getting certified for my professional skills. I stopped buying fast fashion clothes 2 years ago and shop responsibly. The only ongoing issue is that I don't have budget for my grocery and still spend more than I want on grocery because I really like cooking. I go out 1-2 per week with my friends and colleagues but spend no more than 20 EUR each time. I am still pondering what else can I do to get financially stable by the time I am 30. And I realize it is a hard and lengthy process to become wealthy.
You are doing so well. You have developed very good discipline and have a strategy that works for you. Keep going.
Great tips! Thank you for sharing!
Great tips and thank you for sharing.
Thank you!🙏🏾🙏🏾🙏🏾
7:12 ! Very important.
Im a brand new subscriber today and i subscribed before i heard you saying to do so.i also liked this video because i loved this video...so informative and useful information! Thank you soooo much for making these free videos on RUclips and not advertising something here in the video...so professional. I will check out all your content and see if I can get your books from my library. If not i may buy them once i save money for them in my budget. at this point, I haven't worked since 2020 because of covid and other health issues. But i will find a job soon and then i can learn to budget better and also study your books for tips...
But thank you soooo much for all that you do, you are so dedicated!
Tip #1 is the one I must do
Thank you so much. I'm gonna be very intentional and stick to the list
What content! You never fail to provide good sensible quality advice.
I am working on paying down debt and building an emergency fund. Financially stable is the goal!
Thanks for being here!
Thank you sis
Setting Goals
Great information...TFS!!!
Thanks for watching!
Incredible. Thank You!
Thanks for the information !!!
Our pleasure!
Great information that's practical. Thank you
Glad it was helpful!
The tip that I’ll start with is Empowering Myself with the Right Structure by building out my goals, staying focused and making room for fun! 💚💚💚
YAY! Do it! We are cheering you on.
Great video, thank you for sharing
Thanks for watching!
This is such good information. It's practical and not complicated. Thank you!!
Glad it was helpful!
Thank You. This is helpful.
Glad it was helpful!
I’m going to build an emergency fund it’s a brilliant idea
Do it!
Love your channel
Grateful for you sharing this information for free to all of us.
Thanks for the tips! They were very helpful!
YAY!
I am happy to have discovered you.
I like your advice on being patient and disciplined
Glad you found it helpful!
Such a great list. Thank you good sis
You are so welcome
Thank you for tunning in.
I had to watch this again for more impression and reminders. Thank you so much for the tips you share.
You are so welcome!
Love your video..
Thank you for this very important information.
Terrific message👏👌💪
Thanks for tuning in!
I thank Erika for having introduced me/us to you, Ms. Bola.
Just subscribed to this channel.
Good content🙏
Good advice
Thank you so much!!!!
My family and I are taking your advice for a stress free future!
Appreciate all your work! 🙏☺️
You are so welcome!
Great tips...TFS!!!
You are so welcome!
Your advice is very helpfull and teaches a lot keep up the great work🎉
Thank you! 😃
Thank you! I enjoy watching your videos and learning from you ❤
We're so glad!
Thank you!Very helpful...short and clear!
I really am enjoying your videos on finance . There is a lot of great information.
Glad you like them!
Thanks alot for this 🙏💯 so informative ✍️ looking forward 🙏⏩ mob love Bola
Thanks Esther
hello here, I find this video very helpful as I am on my way to living a frugal and purposeful lifestyle. thank you so much as I will be applying some of your teaching and putting in the work
Amazing- Well done. You've got this!
I have learnt today❤
I have been working on the frugal lifestyle
Goals Trip Saving Fund has been blooming like a flower. I have been on the frugal train for the last three years. Paying myself first I have a hard time with that I always forget. Im making an effort to prioritize that more. The side hustle is in a slight libo, but it is at the top of the list. Great video very simple.
Well done for paying yourself first. You are right it can be difficult at first, but you have clearly shown that consistency pays off. All the best with your side hustle. Keep going.
watching from Tokyo
So proud of you Bola!!!🎉
Thank you for supporting Clever Girl Finance
I'm most definitely financially unstable. It's like no matter how I try to save, i keep finding myself in a rabbit hole. 😢
We're sorry to hear that you're feeling financially unstable. It can be discouraging to feel like you're not making progress despite your efforts. Our personal finance course can offer strategies for breaking the cycle of financial instability and help you take control of your finances. Remember, it's never too late to start making positive changes.
If you get money back from taxes, always save it to help you pay your future bills; doing that for years helped me become more financially secure. I then used my regular pay check for other things!
Do you suggest paying off debt before saving up your emergency Fund?
I’m doing both and I’ll be out of debt this year. I started off saving $25 a paycheck and now I’m saving $200 a paycheck. I was doing $300 at one point but I want to get out of debt sooner.
To get from $25 to $200 ppp, I took an honest look at my spending. Looked to see where I was spending unnecessary and cut that out. The money I stopped spending helped me to put that money towards savings. Also, any increase you get either put it on debt or save.
Within the last year I got a bonus and pay increase. The pay increase was used to increase my retirement fund. The bonus went to debt. I’m getting another pay increase next month and will put that 5% towards debt.
You are doing great! Well done.
An emergency fund is necessary - even if you start with something small. Then you can focus on paying down debt as you earn.
Create a financial managment plan by avoiding unnecessary debt like store cards and spending on nonessentials.
I am not financially stable and its frustrating😥
Follow this plan and things WILL change.
Great video, I especially liked the part about having an Emergency Fund👏🏿💕
Glad you liked it! Thanks for stopping by.
Today I reminded my self that i spent alots which are not necessary I made my track goal starting this May till December I want to spend accordingly I will let you how it works 😊
That's great to hear! Setting goals and tracking your expenses can be a powerful tool for building financial awareness and developing better spending habits. Keep up the good work and don't hesitate to reach out if you need any additional support along the way.
Re step 5: Financial advisors don't make enough effort to distinguish between 'emergency savings', as it is described here, and a 'rainy day fund'. It is an important distinction to make, because they often get used interchangeably, but they are not the same.
Emergency savings are for the kind of unforeseen but not necessarily unexpected expenses life throws at you, like this video suggests. They could happen once or twice, but they are short-lived events.
Rainy day savings are for a lengthy period of time that can last several months, maybe even up to a year, where your source of income stops and you have to rely on your savings to cover everyday living expenses.
The needs and the money required to meet those needs has to be assessed according to different guidelines, and so is the decision about the best place to keep that money while it is not being needed.
😊 THANK YOU FOR YOUR SUGGESTIONS AND ADVICE. This is going to bring me back to where I used to be in my 20s, when I had 18,000 saved. I'm glad my debt is down, but I am working on earning a stable income, even if an extra part time. I don't travel because I am so focused. I do want to take a trip, but I am trying to use discounts,etc. I really enjoy watching your videos, been subscribed for a year, and I feel you have helped me alot. ❤
You are so welcome and thanks for sharing. You can get back there! Set your plans, take action and stay focused. You've got this!
I find the 50/30/20 rule works for me.
Where does your 50/30/20 breakdown go?
50% of income to 'needs' (utilities and debt), 30% of income to 'wants' (shopping, going out, gifts etc, 20% to savings/investment/future/retirement
I want to start investing and save for emergency fund. Thank you so much. From CleverBoy, South Africa 🙂
You can do it!
First, I just want to thank you for these great tips. As a single parent I am on saving journey and i would like to invest as well. My job doesn't offer any retirement plan. What are the great to invest for retirement? I would like some tips please.
Check out our investment course
would love to find that kind of Financial Stability and Freedom support group of like minded women.
Subscribing now!
What did she say at 11:18? Lifestyle free?
Newbie❤❤
I’m having the hardest time and stress about even having food and keeping utilities on. I’m always stressed about money.
That was me 13 ys ago and now I am 48 and financially stable. I followed Dave Ramseys advice and his baby steps really do lead you to financial stability fast. Also look into frugalism and minimalism and adopt these concepts into your lifestyle. Don't give up!
Can we begin to talk about people who are. Jobless maybe cos of a sickness and are dependent on others or are dealing with a chronic disease such that all their money goes on drugs, hospital bills and all. How do such people become financially stable
Great topic idea. Thank you for your suggestion. Keep a look out.
If that was possible for them I think the numbers alone would reflect that reality.
These are fantastic takes, I feel exceptionally lucky I started investing early and consistently compounded my income via assets to create more cash flow, I grew to a 6 figure well-diversified portfolio having exposure to different profilic investments mainly stocks and commodities, crypto, mutual funds, ETF's amongst others. All thanks to the services of my financial advisor/portfolio manager Melvin Don Fisher who has been an immense additional value to my life and financial prowess in general
This isn't the first time I'm coming across this Melvin Fisher dude I've read a lot about him on several online forums,his track record is truly outstanding.
Investing is mandatory for becoming financially stable and it's best to work with professional guidance so you make the most out of your investment and mitigate the risk involved in the ever fluctuating financial market
i just want to know on an average how much does all these investments give you combined? i'm also an investor particularly in stocks and crypto but managing my investments has been very challenging....please can you share more insight on your portfolio manager and how i can consult him for assistance??
@@ROHAN-N Your profit margin would depend partly on how much you invest but asides that, I've raised over $270k in 13months from my diversified portfolio. Mr Fisher comes highly recommended as he's fully licensed with 25yrs of experience also regulated by FINRA and tons of other regulatory bodies. He provides an investment management service where he handles my trading analysis and executed trades using his superior expertise and technical abilities for a 20% commission fee charged from total profits generated
For further inquiries he's available on
Tele gram
I’m definitely not financially stable and it’s heartbreaking. I have to do better. I live pay check to paycheck and I’m tired. It’s hard to save. I don’t spend money on anything but bills. I’m not a shopper or a person who just spends money all I do is pay bills 😢
Use a budgeting app like Every Dollar. It changed my life.
Me too!!! And every once in a while eat out or nails or haircut
You and B Davis not sure there is not an income issue rather than a behavioral issue that can be solved?
@@bdavis6450 I don’t even do that I’ve learned to cut my own hair.
@@donaldlyons17 it’s definitely not a behavioral issue for me.
My family is stable but I’m still sick of interest in our mortgage.. I can’t believe people use to pay more than 3percent .. it’s a rip off .. save your money and buy cash
i am not a girl but i still follow you
All
You can do it
Times is getting harder each days exspacily for people without education tell how can we do that with a skill ?
Some people don't have education but they learn and master a skill they are good at. Leverage the resources and opportunities available to you. If there are non- get creative .
Awesome content!!! Regardless of market ups and downs, it's always a win-win to work with my CFA JENNIFER D. ALAINE, people buy stocks regardless of macro concerns like inflation and interest rates. It's a rookie mistake, I started my portfolio with precisely 84,000 euros worth of stocks and currently over 1.3 million in my portfolio, I've never had any major losses, all covered by her policies insurance. I always believe that the secret to financial stability is having the right strategy to enable you to earn more money.
I am more than ever motivated to dive deeper. I have read articles about JENNIFER D. ALAINE on the web! Interesting lady!!.
Financial management is a crucial subject that most tend to avoid and which ends up haunting them for the foreseeable future.
Growing wealth is such a beautiful thing to behold
JENNIFER D. ALAINE is a well-researched financial advisor, and her website is among the first results that appear when you search for her FULL name on your browser. You can find her contact information and more details about her services on her website, including the option of sending her a message.
her information is available online for those interested in her services. Just search her full name online and connect
her full name
👇
JENNIFER D. ALAINE
her information is available online for those interested in her services. Just search her full name online and connect
Well structured
If you’re searching for a job first to jumpstart the goal of financial stability - would you recommend watching any particular videos on your channel first?
I'm in video course I love the girl
Hi how can I save money when my income is once a month?
Check out this article! We break donkey tips to plan your finances if you’re getting paid monthly: www.clevergirlfinance.com/blog/getting-paid-monthly/
😊😊😊😊😊😊😊😊😊😊
Definitely not..I wish though🎉
Why don’t you welcome men here?
I’m a man. I subscribe. I listen. I support.
Thank you for being here. You are welcome and we appreciate you being here, Hope you continue to find out content helpful.
Too many steps!!! Automatically save for emergencies, invest for old age and stash for the experiences that make life rich.
You do realize one needs a higher income than expenses for that to even have a chance at working.
@@donaldlyons17 One needs a higher income than expenses to make everything work.