15 Expenses You're Not Including In Your Budget, But Should Be
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- Опубликовано: 2 июн 2024
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In this episode, Chelsea shows us 15 items you're not including in your budget, but absolutely should be - from feminine and personal care products to annual fees and other irregular expenses.
Seasonal energy bill differences: www.utilityhound.com/utility-...
Space heater cost: www.consumerreports.org/cro/n....
Pink tax: fsastore.com/learn/tampons-ex...
Cost of attending a wedding: www.usatoday.com/story/money/...
Pet costs: www.aspca.org/sites/default/f...
Texas Wedding Link: www.texasmonthly.com/being-te...
License costs by state: ballotpedia.org/Driver%27s_li...
Cost of drinking: www.thebalanceeveryday.com/wh...
Rideshare spending: www.cnbc.com/2018/05/11/how-m...
Landlord responsibilities: www.legalzoom.com/articles/re...
Home insurance 101: www.nerdwallet.com/article/in...
Tipping: www.eater.com/2018/11/28/1811...
Tipped minimum wage bad: newrepublic.com/article/15837...
Watch more of The Financial Diet hosted by Chelsea Fagan here: • THE FINANCIAL DIET
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Hi, I love your advice, everything that you say makes perfect sense to me but, I have to ask, what are your credentials for giving financial advice?
Me, at any wedding: "This wedding could have been an e-mail."
LOLLLL
lol... ever thought about a finance hacks series?
sigh. if only all the people who needed to be at weddings had email addresses... and would be sufficiently not-offended by simply being told. unfortunately, (at least at some weddings) there's also the part of the ceremony where the officiant asks those assembled whether they consent to do all in their power to support these soon-to-be newlyweds. that consent seems harder to obtain over email.
It also could have been an elopement with only immediate family where you send out pictures to any other relatives who want to see. I know some people find that offensive, but I think that by inviting almost no one except Mom and Dad, you’re effectively offending everyone and therefore no one is allowed to have their feelings hurt because they didn’t get invited. Does that make sense? Lol
screaming!!
Summary:
1 Annual Fees e.g. Amazon prime fees
2 Holiday gifts
3 Seasonal Utility e.g. space heater use
4 Feminine care products/ personal care
5 Pet costs
6 Maintenance of pets/house plants
7 Wedding Guest Costs e.g. taxi, gift etc
8 Non recurring donations
9 License/ ID renewals/ upgrades
10 Alcohol spending
11 Ride apps e.g. Uber
12 Home repairs/ maintenance
13 Niche Cleaning products e.g. leather cleaner, bleach etc
14 Non wedding/ non birthday gifts
15 Tipping
Thanks for this :)
Why do I need to budget for items I must pay and don't have any control over? That seems OCD to me.
Thank you sooo much! xx
@@barbarasmith6005 Because you..still..need to pay them? 🤣
@@victoriamather2267 but why budget for expenses I can't control? Some of this budgeting is the result of thinking I can trick my own brain. I don't currently budget, I just try not to spend money except when I have to. Budgeting also doesn't take into account an accident, either, and how you budget for one, I haven't a clue. I broke my foot about seven weeks ago requiring expenditures I could have never foreseen. (Fortunately, I have good insurance that will cover.most of my medical bills.)
As a former pet sitter, THANK YOU for talking about how pet care should be built into travel expenses. The amount of times we would get calls last minute, "Oh, family trip to Europe for two weeks in a few days can you watch our diabetic feral cat and senior dog for the cheapest possible price because we cannot afford the care our pet actually needs?" was not just exhausting, but completely unfair to the pets.
I’m the complete opposite 😂 my holiday is a year away and I’ll already be researching pet sitters
@@rebeccas2801 YES GOOD. THANK YOU! I guarantee you that your pets and the pet sitters all greatly appreciate it.
I can't believe people do that! Asking our bunny sitter if she can watch them is the first thing we do when planning any kind of travel. Pets are family and I couldn't relax if I had to worry about them while I'm away... 😔
This!
What? It's living in your house. If it can't come with you and is unable to care for itself, it needs to be taken care of when you go. That's part of planning for a holiday. An older teenager/young adult could probably take care of themselves if you leave some money and phone numbers behind. A child or pet needs to be taken care off.
Lol, the number 15 reminded me that this is definitely an American channel! Most services in the UK (and I imagine across Europe) tend to build tips into the final bill, and there is a minimum wage for all workers regardless of industry as well. Never fail to be shocked by how the US treats its workers!
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In germany (and I think so too for all european countries I‘ve been to) I haven‘t ever seen that. The bill lists just the food and you add the tip. It can technically be quite low since the staff is earning a „full wage“ even without tips (hopefully above minimum wage). It could be „rounding up“ or a few euros, I try to tip about 10% of the bill.
I thought it was a thing in the US to automatically add 20% tip into the bill as a minimum and the customer then chooses how much more they tip. Is it?
@@Alina_Schmidt In the UK, it's common in sit-down restaurants to see something called a "service charge" added to the bill. This will normally be around 10% of everything ordered. However, it is an optional charge and you can request to remove it with no issue. They always state that it is optional on the receipt. You can also add more on top if you would like to give a bigger tip.
I have been to the US recently and yes, it seemed that a tip around 20-25% was standard. However this was not normally added to the bill automatically - you had to estimate it yourself when paying.
YES TIPPING! "Why should I tip when the system is broken?" _Because you're using the system._ The arrangement definitely sucks, but you don't get to screw over your server/delivery driver/person who did some service for you so you can make some BS statement. That's you _taking advantage_ of the broken system, not you standing up against it.
Exactly! If these people actually cared they would protest and push for minimum wages to rise
@@rebeccas2801 But minimum wages are rising...have risen. I went to school, got my degree, paid off my student loan all by myself and currently minimum wage is swiftly rising to my income level. Cost of everything is going up, so I guess you can say things are equalizing because my salary is effectively lower as minimum wages goes up and causes all my expenses to go up with it. When will minimum wage be high enough?
@@kathyazzari839 Actually minimum wage isn’t the biggest driver of cost of living going up. It’s the companies wanting huge profits. I think you’ll find wage costs aren’t as large as you realise
@@rebeccas2801 Not all companies make huge profits. Our local, independently owned businesses and supermarkets have no choice but to raise prices when they pay workers more...that or higher fewer workers. My pound of coffee beans from my local roaster has gone from $10 to $15 in just a few years. My groceries have all gone up significantly. The consumer always pays more when business expenses increase. Businesses are in business to make profit, they aren't charities. A 16 year old at his first job still living at home doesn't need a living wage. I know times have changed....but minimum wage was never meant to be a living wage on which to raise families. So, how high do I you think 8s high enough? Pretty soon it will reach my hourly wage, and my rate will not have budged.
@@kathyazzari839 the company you work for not increasing your wage in line with inflation is because they’re greedy, that’s something that needs to be addressed with your employer. That’s not an increasing minimum wages fault but greed of corporations.
The issue is minimum wage means people cannot live independently. Imagine an 18 year old who had to leave home because of abusive parents. The only jobs they can get is minimum wage, there is no way they could support themselves on minimum wage, that’s why minimum wage needs to be the minimum someone can live on
One hundred percent agreed on tipping. Do I want it to go away? Yes. Do I tip at least 20% when I eat out though? Yes. In fact, before I started dating my now-husband, we were part of a group of friends that would regularly have lunch together, and I definitely snuck a peak at his receipt to make sure he was tipping well because I did not want to date a bad tipper. Ain't nobody got time for that.
i am reminded, incidentally, of a great song featuring the line, "ain't nobody got time for that". and yes, some things are worth training important people about; others, not even: just run.
I have certainly family members that I now refuse to eat out with because they are shitty tippers...like less than 15% and they know it and they don’t care.
A bad tipper is the worst. Tells you A LOT of that person.. usually theyre not good ppl.
“... your mother doesn’t want any time spent with you by the fire telling family stories, she wants and iPad!” XD XD
now, granted, she wants it to Facetime with you, but anyhow.
That comment was weirdly personal..
California’s minimum wage is not reduced for tipped workers. I notice new yorkers seem to think every state pays tipped workers like half as much as regular minimum wage. I have a friend from New York, & he did not believe me no matter how many times I swore to him that tipped workers still get paid their full min wage here. Sooo for me 20% is definitely not the floor. I start a standard 15%, & 13% if the service is bad maybe 18% if it’s great. Call me a monster, I don’t tip $5 per coffee either
I'm so glad I started using a menstrual cup and cloth pads when I was in my early twenties. I have no idea how much tampons cost and never have to worry about not being able to afford them
The average woman uses 20 tampons a month? That seems... like an awfully high number.
I started both two years ago and wish I had switched sooner. Not buying products every month is life-changing.
Yesssssssssss! Cost AND comfort. So worth the switch.
Yeah, menstrual cups are great. Better for our bodies. Better for the environment. Better for our wallets. Unfortunately, not everyone has access to them or to the water needed to clean them properly.
Same. I paid one month and realized I couldn't afford any of that stuff so I got the diva cup and some reusable pads. All set, no more pink tax (after paying upfront like that).
I'm a parent of young kids, so I also budget in: birthday parties, yearly professional photos.
I often ask myself "what if I moved to the states?". But then I remember tipping and stay where I am. My Brazilian 10%-optional-tip-and-only-at-restaurants habits could never adapt to that crazy tip-everyone-just-in-case system.
And you cannot say anything against it.
Yes. In most of Europe is 8-10% for a good service in the restaurant. I don't understand tiping other people. You don't go to a vet and leave him a tip even if your dog bites him.
@@MsGrunweiss Nope. And if you even try to argue, they'll just call you cheap and shame you into submission. It's ridiculous.
@@morhy5501 I know! It's absurd to expect me to pay extra when they were the ones who set the prices. If it's not enough, just set a higher price, don't extort me for more money.
@@BelaAlmeida EXACTLY Americans are up in arms about this at a social level. It's not about helping the actual servers by tippinh, they see your ability to tip as a reflection of your own morality or something
Tiring af
Literal third world countries cope better
"Your mother doesn't want time with you, she want's an IPAD!" 😂😂😂
This was so funny :)
LMAO my mother indeed wants an ipad!! lol
My wedding rule is: if it's not for one of the friends in my close inner circle (like 6 ppl), I'm not going to fly for it. Cannot justify the cost for just one weekend. If it's within driving distance but far enough away that I have to stay overnight, I'll consider splitting an Airbnb with friends. If it's within driving distance and I don't have to stay overnight - perfect!
Also, tip in cash when possible. Electronic tips (on cards, apps, ect) can be taxed if the business reports them. Some restaurants pool tips and then divide them. Tipping in cash means your server gets as much of that tip as possible. Since Apps have a bad habit of taking tips without telling their workers what the tip was, tipping in cash ensures your service provider actually gets what you wanted to give them.
That’s tax evasion.
I drive for Doordarsh. Be careful about only tipping in cash for food delivery services. I personally will not accept an order if there's not a decent tip attached. I feel bad for people who plan to tip in cash for my benefit, but it's just too much of a risk that there won't be a cash tip at the end.
@@Jennyzhenghauser girl no one cares about $100 you didn't report in cash tips. the ultra wealthy get away with not paying taxes on their billions of dollars, no one is being hurt that some random ass waitress made 50 bucks in untaxed income.
@@wordswarsandsymphonies - unfortunately, the IRS would disagree with you. And it's easier for them to bother the servers than the billionaires.
Don’t forget about professional licenses/certifications that needs to be renewed, they also involve maintenance costs to be current with anything within your jobs.
Chelsea's comments about weddings always have me rolling 😭
I avoided financial advice for a long time because it always seemed so preachy and guilt inducing. However I love this channel! I have been binging it lately and can honestly say it’s made a difference in my life already. I have become more organized with my home and money, which is something I couldn’t really say before 😅 also the guilt free purchases made a huge difference in my home
Actually, there are more solid arguments behind not tipping by default, than "oh, the system is broken". Because it is not the abstract system, it is the tipping culture itself that is so, namely the culture of automatic tipping. Two reasons from my point of view. (And a disclaimer to bear in mind: I'm not from or in the U.S., different places have a different attitude to tipping. In Japan, for example, it is considered insulting to tip.)
First, a tip is supposed to be a gratuity for service performed beyond the normal, regular level. So, a guy who crosses the whole town in a snow storm to deliver something - yes, I will definitely tip. But to tip just because someone performs the basics of a job description, regardless of how, is just wrong.
Second, auto-tipping culture is massively selective, and contradictory in the way it is such. You absolutely have to tip at a diner, or at a restaurant (and in the latter case, the wage of the person serving you, depending n the establishment, might be more than decent). However, you don't tip at McDonalds. Why? Doesn't the person there also serve you food? Isn't the person there on her/his feet all day, and so on and so forth? Similarly, you don't tip your postman? Why? Isn't he delivering stuff through rain, snow and hail? But no, your conventions say 'tip this person, but the other one who does the exact same job, screw them'.
And third, as a bonus. There are entire professions which are massively underpaid, but remain outside of the whole tipping debate or tipping conventions. And some are, in a number of ways, much more challenging and yes, much more financially unsustainable. Teachers are a good example here, among many others.
So, to tip for above average service - yes, definitely. But to tip simply because society says 'tip here, but don't tip there', that's patently ludicrous, and has absolutely no basis in logic or even the commonest of sense.
Thank you for articulating that so well. I have an issue with this mindset of automatic tipping as I do not come from a country that does it. But i struggle to explain it as beautifully as you have.
Waste-free periods baby! Diva cup and Thinx ftw! Haven't spent money on tampons in literal years
PSA: tampons can be useful in an emergency first-aid kit, and to keep around in case houseguests forget to bring their own. both of those cases are a much less frequent expense, though, so it's more practical to splurge and get the nice ones (organic-cotton, etc.) for those "occasional" uses.
Same here, and it feels so liberating! I love my menstrual cup ❤️
Same! Been at least 6 years and I've bought about 3 packages of pads. And that's really fair when other women come over and have an emergency
Amen to that. I've only spent a few bucks on tampons in the last few years for my emergency kit.
"Feel free to say no to any wedding." Yes! Twenty years ago a good friend decided to get married in England. His fiancee was English, but she had been living here in the U.S. for years. Plus the venue wasn't even easily accessible by train (which we always used when we went to England), and we had no intention of trying to drive there. I said no. I was surprised at how many people actually ponied up the money and went. Sheesh.
Period cups ftw! Also, reusable feminie products is such a life saver not only for you (less money spent) but also for Mother 🌎 :)
Yes! It's also so much easier to just keep the cup in it's little carrier bag in your purse at all times than be caught off guard when your period comes ahead of schedule and you've already blown through that emergency stash of tampons. AKA me every month before I made the switch lol
I should actually try them 🙈
I double them up with reusable pads in case there is any leakage. After that $25 investment in a cup and pads, I haven't purchased menstrual products in a year and a half. It's beautiful. And when you're a nurse, not having to change them for a whole shift is a godsend.
Wanna chime in to give a shout out for cups. Not everyone can handle them but you save a ton of money and so much less waste! I switched years ago
I CAME TO SAY THIS TOO! Other reusable products include menstrual discs, period underwear, and reusable fabric pads!! As someone else mentioned in this thread, you can combine them too! I've spent a total of $24 on my period in the last 3 years!!
The best thing I ever did for my budgeting is setting up budget billing with my utility providers. This is a program that many utility companies like gas and electric companies where they average out the costs so that each monthly bill is about the same. This means there are no big seasonal jumps to account for in my budget. It is absolutely wonderful!
Yes yes yes!! My electricity bill would be over $100 different in the summer and winter if I didn't do this.
This is the norm in the UK, plus we can have it paid automatically from our bank accounts, because this is not the 19th century.
Pro Tip: I have AEP for electricity and I opted in to "level payments" where they look at a year and you make an average payment. Ex. I don't really use AC in the summer, and my electricity is ~ $35. But in the winter my bill would be ~ $120 - $180 depending on the polar vortex. Instead of having radically different electricity bills during the year I pay ~ $72-5/month which is MUCH easier to budget for.
I've attended a total of 3 weddings in my adult years and I do not plan on attending any more. Keep your circle small and your budget will thank you!
Hahaha good plan ;)
Is it so expensive in the US?
why do people spend so much to spend? just show up in nice clean clothes. and enjoy the food. and slip the envelope with a $20 (or whatever amount they paid in your wedding) to bride and groom. and if you are a plus one, don't worry about paying a penny. and if its a plane ride, just schedule as part of the trip.
I've never attended a wedding other than as a hired musician.
@@jaineas it is more expensive if
A. You’re in the wedding
B. You have to travel to get there or
C. You buy lots of new things to look nice at it. They don’t have to cost a lot but I usually spend about $50 on a gift if nothing else.
It took me about 5 months of pandemic life to remove the empty "Going Out" line from my budget (which covered my drinks, bar covers, and lyfts), but after a couple months of 4-person parties with only my roommates, I brought it back as "Drinking" which definitely keeps me on track better and reduces how often I make those purchases.
I FINALLY started saving for Christmas presents. I'm putting 40 away every month. I can't wait for the end of the year when I can spend hundreds of dollars and not worry about it!
OMG that's crazy to have to save so far out. Low key happy I don't celebrate Christmas🙈
I'd recommend looking up what you might want to get for gifts now and buy them before the prices are inflated for the shopping season. I can finally afford gifts this year, but it's been a very long time since I've bought Christmas gifts. So, I'm going to be doing my research now and purchasing in like, July or August.
@@BewareTheLilyOfTheValley Very smart
You can buy feminine care products (period underwear, pads, liners, cups, etc) through your FSA/HSA card for spending !!!
In my mid twenties I spent nearly $3,000 to be a bridesmaid in a wedding. I didn’t even attend the bachelorette party which was in the Bahamas. $ Bridal shower, dress, shoes, hotel, blah.The marriage lasted 14 months. That sh*+ could have cost me $5k. And I was bullied by the other bridesmaids for not going to the Bahamas for the bachelorette. I’m sorry but I don’t want to go on vacation with women I don’t know, I’d rather do that with people I love.
Thanks for the feedback, for further clarification, tips, support and guidance on *stocks, cryptocurrency and Account Management* relate with my investment advisor *•W •H •A •T •S •A •P • P*
*+:1:5:0:9:4:0:8:1:2:6:5* for profitable result
Love the final comment on tipping, Chelsea, and what an insightful video. As a part time postmate driver, I am blown away to see how often I delivered even 70/80+ dollars of food in super fancy neighborhoods in LA, for just seeing a dollar of tip, literally, if any. If you cannot afford to tip, just get it TO GO and save the money, or do not order at all.
Thanks for watching comments really appreciated make a note to my admini for your good profits in 🅱️•T•C, his strategies are top notch'
Someone's pretending to be TFD in the comments. When you click their username, you'll see a blank channel page. I reported each time I saw them. Don't contact the given number.
Never contacting any number found in a RUclips comment is a good policy.
This has been an ongoing issue we're still trying to resolve! So sorry for the confusion :/
@@thefinancialdiet I kinda make a game out of reporting all of their spammy comments. lol
@@thefinancialdiet glad to see the verified-account checkmark. :-)
I’ve seen that person too. He gave me his whatsapp number and I thought, is that something Chelsea is likely to be doing? Hmm... 😆
You can now use your FSA for feminine hygiene products. About time!
Wow! so cool!
Hey, that's great news! I didn't hear about that, I assume the same applies for HSA's
@@PaperRaines yes it may vary by state 🤔 but in Ohio you can use HSAs for condoms, feminine products, and over the counter medicines among other things 👍
I think HSA spending guidelines are set by the feds so it's probably national! BUT there's a pdf the government puts out so should be easy to find!
@@errinwellman1960 oh! i thought it was per-benefits-company. a pdf from the government sounds so nice and...standardised!
I agree about tipping. I never really understood how important it was until I was a pizza delivery driver for two years(as a second job to pay off debt). There is nothing worse than delivering pizza after walking two blocks through snow drifts because you can't make it up the hill in your car (snow storm) only to be told sorry no money for a tip. Or how about the lady who told me she didn't have the money for a tip but I delivered pizza again the very next day to her.
Chelsea really said "This wedding could have been an email"
i’m entering mid-twenties and the weddings are slowly lining up, def trying to save where i can i.e. rewearing dresses, skipping bridal showers, and driving back home at night instead of staying at a hotel.
weddings feel more like family time to me so for all of my friends getting married i’m fine with saying no to some things
The “just because” gifts are my jam. Love giving them. Love receiving them. It‘s always part of my budget.
hahaha good for you. Okay to have something you enjoy spending on as long as its not everything!
I'm surprised if it's the norm to give gifts outside birthday/Christmas/valentines and certain big event like confirmation. When I think of it, maybe not a bad thing to have with your loved ones as long as it doesn't get too expensive over time. Would be weird to just randomly give someone a gift, or receive it for that sake, but also whoever receives it will be positively surprised
YASSSSSSSSS!!!! Thank you TFD for speaking frankly on tipping us Gig workers / Service Workers. That is correct, there is a percentage of the transaction that is taken out in delivery app that is not given to gig workers. A big misconception is that people think that we get the full payout from the transaction but that's not true. Thank you again for talking about this.
I'm dead at Chelsea's very specific details about the braidsmaid dress and location, lol!
Edit: Her whole wedding spiel! 😂😂😂😂😂
I always get blindsided during wedding season, not sure if any other late 20s people feel the same
Totally 💯
YES 👏🏻
Honestly the kind of money we spend on weddings is why I'm opposed to them. I'm happily single and I love living alone, but.. living alone is already more expensive than sharing a place with a partner, so being put in a position where I'm spending hundreds of euros on people who already have cheaper living arrangements on TWO incomes, feels wrong on many levels. I only attend weddings of close friends and relatives anyway and I join in because I love these people, but financially it makes no sense to me..
We do!!!
@@Daph909 If it's more expensive for you to be single than in a relationship, I think you're doing something wrong, lol. For example, you pay less for food when it's just you, especially if you've ever lived with someone who eats way more (like my rooming situation with me and my brother. I eat way less than him so I can't wait to move out on my own because I don't have to buy as much). Less electricity and water is used when it's just you. Less household items are also used when you're alone. You also don't need to pay for a larger apartment or house when you're single. Living with someone might mean sharing costs but that still means you're using more of everything, too.
Ok I'm embarrassed to admit this but as a person who professes to care about the working class/etc I needed that tipping wake up call. THANK YOU. 20% IS NOW THE FLOOR
I recently moved to the city and I’ve now made tolls a part of my budget. I spend around $40 a month.
Also, I do my budget a yr in advance. As soon as an event or a new expense comes up, I add it to next year’s budget too if I think it will be staying for good.
It's unfair on how things have turned up to be due to the recent world pandemic things has been so difficult,
This isn't good in the sense that it ends up addicting the civilians financially in different angles of life
@Brian Anthony
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If you sit down at a sit down restaurant and the waiter(s) are actively coming to you to check up on your experience, you should definitely tip. Now if it's a fast food, causal dining or coffee place, not so much, especially with the pandemic where you can't even expect to use the bathroom at half these places or do anything within the establishment that would merit a tip such as using the wifi, getting refills, loitering, etc.. Businesses where I live are trying to lure back their old cliental after losing them to home cooked meals and home brewed coffee. They just want you in the door ordering. They would rather have you buying sans tip than you not going in at all to support them as a business, just because of a tiny tip. Minimum wages also went up this last year to $14/hr so in general I'm noticing less in the tipping jar...but there's also a lot less employees too, hence less service.
I literally have a subsection of my savings account labeled “other people’s weddings” lol. I was in the bridal party of two weddings during summer 2019 and ended up struggling to make rent and student loan payments because of poor planning. Never again.
I will say that in Germany the service staff doesn’t rely on tips for their wage but tipping is just the right thing to do. The weddings costs for guests also seems enormous in America. I’ve been to three weddings and never spend anything near the cost you mentioned.
Ya the USA is different, for sure!
Yeh, I was thinking that when Chelsea was on the tipping bit. I work in a bar here in Germany (when there's not a pandemic obvs) and I'm happy to say we get nice tips but that's *genuinely* just a lovely thing that our guests do to show they had a great time and are happy. We get paid a completely fair wage and tips are just a gift we get from guests when it was a good night out for them. Which is, imho, as it should be.
Wedding costs vary widely depending on whether or not you have to travel for them, whether there is a cash bar and you choose to drink, and whether you buy a gift (and if so, what gift you buy). For basic local weddings where I'm not buying drinks, I spend very little.
What I’m used to in Canada for wedding gifts is cash or a gift equal in value to the food and alcohol you were served. In big cities, that could be $100 for food plus $50+ for an open bar (per adult).
@@AThirstyPhilosopher See that's a totally opposite philosophy to my thinking. To me, the couple getting married/their families pays for the food, drinks, and entertainment because the reception is basically a thank you to your guests for going to the effort to be there to witness your wedding and celebrate it with you. This is especially true if you have guests who traveled to be there. It's a way of being gracious about the fact that they sacrificed their time and money to be with you because you are important to them. It's totally backwards to me to expect your guests to sort of reimburse you, whether that's through gifts or money or whatever. Your guests are there because you invited them. It's your party, not theirs, so you pay for it.
This list is great because I would never think to add some of these to my budget! Thanks Chelsea!
Agreed!!
I'm glad I'm not the only one putting alcohol in a separate budget category :) When I occasionally go through my supermarket receipts to check what I'm spending on food I always make sure to tally up the candy and alcohol separately from the actual groceries. That kind of stuff can really add up and and that's bad for both your wallet and your health. And when eating out I just skip the alcoholic drinks completely because I don't like cocktails with a meal and I'm also not willing to spend the huge restaurant markup just to have someone pour a drink from a bottle for me.
Hahaha
Completely agree. My average dinner out dropped by about £50 when I quit drinking.
Hi! I love your videos, however being a Muslim we have different rules for our money. It's hard to find good/ reliable financial Islamic money advice in Amercia, and it would be really cool to hear it from you guys. Would TFD ever consider hiring or collaborating with a Muslim money person to give that perspective? It would be so helpful!
Thank you for all you do btw ❤
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The commentary at the end of each section by Chelsea had me legit laughing out loud.. weddings, tipping, etc. All so true. Once our 1st lockdown ended and I was able to get my first haircut in 4+ months, I tipped my stylist $50, who said it was far too much, and I said there was many a backpayment for missed tips and that I appreciated all he does for me. Restaurants got tips on takeout and I was rounding up to the nearest $10 increment ro ensure everyone was taken care of because I want these businesses and these people to thrive. They are part of our community and I want to see them still thriving when all this is over. ♥️
Don't even BREATH ON OUR COMMUNITY if you don't tip! Thank you, Chelsea
I’ve made 30% my standard in the pandemic. But I also know that not everyone can afford to do that, so no shame if you can’t.
In one of her early pandemic videos Chelsea mentioned that she was “tipping like a Rockefeller” and I respect the shit out of that.
Here's a tip, tip like you had to deliver it.
I’m so thankful I live in a country that doesn’t require tipping.
@@missrebeccay yeah we have a $20 minimum wage here in NZ... I'm not tipping 😂
The wedding section made me laugh so hard! As someone who lives in NYC, but getting married in Texas, some were so confused when I postponed!
Hahaha
sigh. culture shock is real, it's true. in some ways, it's been even more apparent over this past year, what with so many things moving online.
Thank you, Chelsea, that's such a helpful list! Now, I'm from Germany, so I have to adjust a few things (not the tipping bit, though, lots of businesses are struggling, come on!), but it's still super useful. Especially bureaucratic costs (like the renewal of your driver's license) are easy to forget. I would also recommend keeping track of postal charges if that's an issue at all. A few euros or dollars here and there can also add up.
Omagawd, thank you for including tipping! I'm a bartender and you would not believe the number of people who order the fanciest, most complex drink on the menu, then tip less than 10%. It's so disheartening
Keeping my finances in order and budgetting properly are some of the few things I'm good at. I don't need this channel, but I love it! Maybe it's just that you're confirming that I'm doing a good job, but I keep coming back here. Thanks! ;)
sometimes it's useful to reinforce what you want to keep doing.
For me, just being married was all I wanted. My wedding was in my mother in law’s beautiful backyard, a family friend did all the cooking, we didn’t ask for gifts (though my bestie still go me one and a $5 bottle of sparkling wine), and we invited less than 15 people including our friend who’d just got ordained and we were her first wedding for her new side hustle. For me, I wanted my wedding to be as easy on every guest as possible, without costing us too much, because for me just having the people I love see me read my handwritten vows was all that truly mattered to me.
No 15 is my fave
Im a blind massage therapist I can relate.
Thankyou Chelsea for sharing
Thank you for adding tipping into the budget profile. Most importantly is your quote “20% is the floor, not the ceiling”. I spent 20+ years in the restaurant business. In my time I found young people tip, generally speaking...terribly. I understand that their financial circumstances are different from their parents, but as a server our circumstances have not changed at all. In many states we are paid a minimum wage of just over $2.00 an hour. In America, if you cannot afford a minimum of a 20% tip on service you are privileged to have, you cannot afford that privilege of service. Yes, I agree that needs to change. The entire restaurant industry needs an overhaul as do many institutions and industries in our nation.
Since I started using YNAB, I’ve been including and budgeting most of these expenses (the ones that apply to me). It makes me feel so much more prepared. 💃🏻
Thank you for making this video to remind me I needed to program the automatic savings for this stuff!! Holiday season was always a nightmare, I’m hoping setting the budget for it now helps this year, also I get excited with my newerly adopted kitten and I’ve been spending with no control for his stuff 😅
Thanks for watching comments really appreciated make a note to my admini for your good profits in 🅱️•T•C, his strategies are top notch'
These are such great ones! It makes so much difference having money saved for specific categories!
Such awesome points! Thanks for sharing!
The attitude in this is Post 2020 realness. Love it
Omg totally 💯
My mother has as long as I can remember has all Christmas presents bought by holloween, the only christmas item (apart from food ) she buys in December is wrapping paper.
I do the same! It makes the season so much less stressful, and usually it’s cheaper, despite all the “discounts” for holiday sales
ah, and there are sometimes reusable (but still decorative) alternatives to single-use paper (such as cloth bags with sewn-in ribbons), that can be bought or made at other times of year, and are less... "seasonal". some gift recipients expect "all the trappings", though, so ymmv.
EDIT: s/seen-in/seen-in/
Believe it or not dollar tree has some pretty awesome Christmas wrapping paper/bows/tissue paper.
tracking your expenses and doing a yearly overview will help with this too. also glad i live somewhere where tipping is pretty non existent. Servers get a fair wage. there is a 10% surcharge on sundays which helps cover their extra pay for that day though, the problem is getting enough shifts per week then if your casual vs part time.
about tipping, wage rules are different where I live. It is still polite to tip, but not perse necessary. Here it is actually something extra.
i don't care i don't tip unless i am sitting down. and only $1 max.
@@asadb1990 she just said "this is my house - we are not having this debate here", and what do you do...
3:36 "People with Periods"........I like how Chelsea said women, but the slide "corrects" her.
They shouldn't have put it on the slide if she wasn't going to say it. The slides themselves even revert back to "woman" on the next point.
@@findingagain Most likely the study that provided the statistics only did research on women, in which case writing everyone who uses period products might not be statistically correct. Statistics are messy in that way!😁
@@WeWofficial You are right in that case, looking at the source. But then shouldn't the language have been maintained throughout? Even if it is okay to put "people with periods" where it is placed, she still didn't say it. She maintained the wording of the data she read. That's fine, but bothering trying to use inclusive language and not following through on it does nothing but suggest resistance and faux support. If it mattered to make this distinction, and the source language just didn't allow, a note saying that is just as easy and doesn't give off the impression that skipping over inclusive language does.
@@findingagain People are at different points in their journeys. Some progress can sometimes be enough for now, even when it falls far short of perfection. That said, I do think the concrete suggestion of what to do next time is likely helpful, and I do think it's probably appropriate to expect (or, certainly, hope for) the channel to improve over time.
@@ozok17 My suggestion can hopefully be inferred.
“If you cannot afford to tip 20% you cannot afford the product or service.” Go Chelsea!✊🏻👏🏻
the lyft thing is so true! since i havent been taking the train i completely removed the metrocard from my budget but then realized i was using lyft a lot to visit my parents sooooo the transportation line is back!
In Canada (at least where I am), for your electricity (Hydro) bill, you can opt in for them to distribute the cost evenly throughout the year so you’re not thrown off guard in winter when it’s -40.
I already have been enjoying your channel and catching up on the member content. I have to say the intro for the last section (tipping) was fantastic!
Great list!
Living in NL where tipping is part of the expenses of whatever it is you're getting (except some restaurants) : eh... I guess I should leave? I tip sometimes? Some waiters earn as much as I do as an office worker here.
Great tips, thanks. I didn’t include some of the items on my budget. E.g license renewal and upgrades
I loved this video Chelsea!! I love this energy!
Thank you for validating my budget (cash envelopes / sinking funds) and all my OCD expenses
thank you for mentioning a minimum tip amount, not just a minimum percentage. it totally makes sense, but (embarrassingly) that was news to me. Today I Learned!
Fully agree with you on tipping. Thanks for mentioning that.
Thanks for watching comments really appreciated make a note to my admini for your good profits in 🅱️•T•C, his strategies are top notch'
Weddings are drama and expensive, especially if your in the wedding party. My daughter had a friend as a bridesmaid who made a big deal about spending $500 to rent a house locally on L.I. and all the activities they planned for the bachelorette party, but then demanded a destination party for her's when she was getting married. Any bride wanting a destination wedding better not expect a gift and/or get mad when people opt. out.
I would also add to the wedding budget a side category of christenings/baby showers. I have one coming up, don't know when because if covid, but both parents are close friend so I'll happily go.
I used to use the cash envelope system- I accounted for all of these things. SO USEFUL.
Loved the point about tipping!
Totallyyyy
What a great video! It never occurred to me to add the gifts (bdays, xmas. etc) to the expenses and it makes so much sense.
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I started a whole separate investment account for my Christmas gifts this year :) I tried starting shopping early last year, but then the holiday sales got me 😩 the fact is I’m gonna shop so I’ll be ready for it this year!
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Regarding the pet stuff; I just got pet insurance at the beginning of the year when my company added it to our plan and HOLY CRAP best decision ever. I have Nationwide and I'm only paying $17 a month for it, but it has already saved us $2000 after the vet found some problems that required expensive tests at my cat's last routine checkup.
I was also really glad I sprung for pro pet sitting at the 2019 holidays. A friend was supposed to also come check on the cats once a day to supplement but totally flaked on us and just hoped we wouldn't notice he hadn't shown up. Money well spent.
Great tips. Thanks you
I have a very detailed budget, but I definitely missed a few categories. Thank you! ❤️
W-HA • TSA • P • P + 1,>9->7->8->6-1->9>-0.>3->2 I'n-ve * s • t + dans C • r • y • p • t • o • A • D • A, BT C A • N • D E • T • H ...
I remember treating myself to lunch once at a chain restaurant and spending $9 on a pint of Guinness, so I definately feel the alcohol spending.
The tipping rant... I am HERE for it!
In US people seem to think all servers get 2usd per hour and live off tips only. THAT IS NOT THE CASE IN EVERY STATE!
In plenty of states, servers get at least minimum wage. Expecting a supermarket worker tip 20% on their meals, while they get the same pay as the server is abysmal.
I think unless you know their specific salary you should still tip just in case
@@zakosist their salary is based on the laws of the state. You can't pay someone below minimum wage in California for example. Every server in CA gets 13-14usd per hour by the law.
I'm definitely not saying one shouldn't tip at all. Just the blind belief that "everyone everywhere needs to tip at least 20%" is based on circumstances that don't apply anymore.
thank you so much love this channel.
Divacup or other menstrual cups will save you so much money on feminine products! A bit more expensive up front, but last for years.
Or washable pads.
They are good too.
"I don't know you"
GOLD. PURE GOLD. Hahahaha loooooove the PSAAAAAA
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I sometimes think the internet can read my mind..i just started to create my monthly expense report TODAY and now this video pops up! Amazing
That’s awesome!
I consider all things you get at a grocery store to be “grocery” to which I have a $100 a week budget for. So when I have a good coupon for pads, I’ll get them and buy store brand sparkling water instead of brand name that week. It really helps to make all consumables into your grocery budget, as you consume them frequently, about the same as you would a bag of sugar or flour.
so informative
So true!
As someone who has been doordashing to try to make ends meet during this time, let's just say no tip no trip. So if you ever wonder why you order food or groceries and wonder why it takes forever to get accepted or ultimately gets cancelled because no one picks it up..💁♀️
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about the utility see what serves your using because some company's might offer budget plan as Quebec most of the hydro and utility company's offer a flat monthly or bi-monthly rate so no here has to feel as their over spending lets face it it's much easier to pay 60 to 100 monthly or bi-monthly then 1200 to 2000 dollars each month if you're able to get the utility budget plan or the hydro budget plan
I agree about tipping!
she said "the year of our lord 2020" lmao
Love you Chelsea. You make me laugh and learn.
BTW. I use a menstrual cup. Saves me soooo much money.
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