Save 5,000-10,000 A Year By Following This Simple Method
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- Опубликовано: 4 янв 2021
- Someone shared this on tiktok and i thought it was pretty cool! so im sharing it with you all! you'll first need to save some money up before starting and you will need to save money to do this it helps promote saving in many ways
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Someone shared this on tiktok and i thought it was pretty cool! so im sharing it with you all! if you Are looking for For Tips / Tricks / Advice on how to get Ahead and more Check out The insightful wenger - www.youtube.com/@TheInsightfulWenger/playlists
I'm so going to try this
🤣🤣🤣🤣🤣
Idiot! Never pool your money with a man even if you are married! Make sure your name goes 1st on all joint accounts because who owns it and can clean it out but if theyre overdrawn you are on the hook with your credit till its paid off.
You’re costing yourself money by not putting the money into a money market account. Wealthfront is giving 5 percent interest
U
You forgot step 1, actually having money to save.
Word.
Lol
anything you can save is a bonus, if it is only $1, then so be it, that will add up too. Do what you can with what you have.
well said!!
True.
😮 I'm not being funny.... But I would only do this Saving with my husband ... Not with a boyfriend who might not be with me in 3 months ... Never do anything Financial with a boyfriend!! You do yours separately.🇬🇧🙏🏾
🇬🇧
i agree 100%
I’ve been with my Boyfriend 26 years, two mortgages later, numerous cars, four children and two grandchildren deep and you are telling me this now? Behave yourself!!!
I’ve been with my Boyfriend 26 years, two mortgages later, numerous cars, four children and two grandchildren deep and you are telling me this now? Behave yourself!!!
Hate to break it to you but it’s still not guaranteed with a husband. Sometimes you find out that piece of paper is very flimsy even in court.
@@yaramercedes2931 All you can do is be positive and brave and believe in the best life has to offer. Do better and better respect the process that there is an order to life. It's not marriage that's the problem, but we know for sure boyfriend is a temp position. In marriage the principal and law supports.
I am saving $10,000 3x in this year. I am taking 50 envelopes and putting $200 in each envelope. I am paying off some college debt for my daughter and a couple bills I have also.
Wow let me try this I’m just doing a piggy bank at the moment good idea but I wonder how often you put money ? Like weekly? Or daily how
Hi! He or she saved $200.00 each week.
@@happylife7079 weekly. 50x200=10,000
a lot over people over buy or over spend on food and going out, just stay home and don’t do much for 6 mo to a year and you’ll notice the difference and see how much you can actually save. most people don’t even budget either so they have no idea what’s coming in and going on. good luck to all on their financial journey!
This is great advice. I’ve still messed up by staying home all the time and overspending on Amazon and Instacart. The amount of Instacart fees I’ve paid this year is crazy. I tend to be tighter with my money when I’m shopping in person, so my goal for next year is to make myself drive to the grocery store or to target when I want something. That way I will buy less things for sure.
what i like to do is get a new card and anything that is a subscription and needs debit card info, unless it’s bills then i don’t put the new info in. more than likely anything you’re subscribed to you don’t need
@@lisag.4054use the impulse purchase method it will help you save on unnecessary stuff
Pay only in cash and set a weekly limit and only take that amount with you to the store. It works.
No, you don't have to stay home, just pick free events or low costs.
Theater at Community Colleges
Movie matinee
Free local festivals
Volunteer
Online Library ((Hoopla App)
Tip: put all your electronics on a strip
(except your refrigerator) when you
go out, turn off everything. You will
not use vampire electricity when no one is home. Do the same thing when you go to bed ( if your security is on wifi,
Leave it on overnight.)
*There are rechargeable light bulbs for
Inside lamps and solar lights for outside.
Cutting your utilities is a good way to save money.
The envelope trick really works. No matter how you structure it that envelope is life!
Yes and I love it. I use it to pay my rent.
IT’S A BRILLIANT IDEA…THOSE THAT MAKE VERY LITTLE JUST PUT A FEW $ …
It doesn't matter which way I try to save, It never exceeds over $300 before something happens and I have to spend it. I've accepted that in my life today 🤣
Yay! Blessing it's there when you need it! ❤
Truth 😅
Damn, i felt that.... same... for me LMAO..
Great idea IF you're not broke like us! More month than money!!
Then lower the amount on each envelope. It's a game and it makes it fun and you'd be surprised how people can find a little bit extra each month. And you'd be surprised that people who think they are completely broke but yet they are buying a bag of cookies or some chips or popcorn. All you have to do is take the junk food out of your house and that's how much money you'll have left over at the end of every month or just don't buy that bag of cookies and that'll save you five bucks... put it in an envelope.
yeah really..! Who are these people who can dare to save?
Boyfriend calls it quit but then she realizes her money is gone
Eeeeekkkks
Yep, never trust anyone, she should keep her money separate and hidden away. I've been married over 15 years and there is no reason to let hubby know how much I have.
@@cathyeller5722 whatever happened to my money is your money and your money is my money
Definitely use a safety deposit box only you have a key or combination to. Being cautious is a very good thing!!
@@lisarice4402 hey Li-Li
"Save money by this simple trick... save money! Works everytime!"
Yup! It's the best way to make money
@@ScottsHonestReviews Jeez this is a dense reply. The commenter was being sarcastic.
@@keepdancingmariasomething for someone to complain about …
@@ScottsHonestReviews You're not "making money", you're simply not spending it. You've put it aside to keep it "safe", hence the term "savings", but you have to *have* it already to *save* it. You haven't created it or "made" it. You can do the same thing by putting $100-200 every week into a savings account, where your money is insured and will be safe from fire, theft, or other disasters that might destroy property at home. Could even earn a bit of interest.
This is incredibly convoluted. Just save 210 a week or 840 a month
A lot of ppl , today, have some form of adhd, add, or autism and are unaware . Also This may be hard to believe but .. Some ppl have a hard time saving and this wrks better for them. “Just save such and such a week or month” maybe hasn’t been wrking for them but this might.
Direct deposit. Out of site, out of mind.
This is fun. Keeps focused on the goal, psych each other into watching how you spend, creates a savings habit. Also, great for couples bonding.
@@growinlettuceI bet you are a real bore. 🙂
@@KalujaFlizck exactly! As humans, we are wired to hunt. This is a form of hunting.
We'll hunt to find a new restaurant.
We'll hunt to find the best deal.
We'll hunt to buy a home or a car.
We'll hunt the produce isle to find the best banana 😂
We can hunt to find a way to fill the envelope!!!
Its called the 100 Envelope Savings Challenge
So some weeks you’ll have to drop over $100. That’s great but I don’t know many people that can spare $100 in one week. I guess you could do 50 envelopes though.
Yeah if you get creative with it but also it helps you want to cut costs as you work on the goal allowing you to put more in ect
Can’t spare a measly $100 in a week!? WHAT…?
You can literally do a gig job on the side and make $100 in 1 day.
A part time job at 5hrs extra a day
A full time second job
List goes on….
Saving$400 a month can be hard, and it's not just now in this economy but many COULDN'T' afford to put that aside years ago. Depends on the job, how many children, and if you're depending on SS you definitely can't.
There are plenty of factors to why people can't save $400 a month and doesn't have to be overspending.
Yeah there are plenty of people who couldn’t do 100 or more in one week. Think about people who are unable to work for medical reasons 🤷♀️
@@lanenolastname6332 while I agree with your statement entirely, we live in a time where opportunities for additional income beyond minimum wage jobs are plentiful. There is a paradigm shift in progress and now is the time to free oneself from low income limited thinking. The pandemic necessitated many to get creative and innovate ways to exploit possibilities of the internet for income. There's seriously so many ways to build an income beyond minimum wage earnings (let alone paltry government assistance) that you're only limited by lack of imagination. (Not intended as criticism, and comes from experience well below the poverty line. Poverty *thinking* is hard to recover from, but possible)
You have to have extra money to save money.
yeah, really!!!
It’s a mindset thing really, I have taken on an extra side hustle bringing in extra money monthly. Now I’m able to save that money.
Most people are behind 1 to 2 months on All monthly bills...👀 due to high cost of food & Any other necessities. Buying clothing & a vacation is a only a dream in the covid era 😞
I dont use this method, but i saved like up to 2600 per month last year. Just by selling stuff i didnt need or like and by not spending money on crap i didnt need.
That is hecka cool. Me and hubby are on board. THANK YOU
Just live in your car. I promise it’s worth it after a year. I managed to rack in 40k after all expenses in just 1 year of living in my car.
its not legal, if u live in ur car u re homeless
@@alexandra8227 IDK where you live but I'm pretty confident it's not illegal, at least in the US. It can be illegal depending on where you park but otherwise no.
this is how I am saving 500 month! this works so much better then just putting money away from your check each week or two weeks!
Problem is you cant deposit that cash in bank account without red flagging yourself to IRS.
Totally true !!
They can deposit as long as they keep videoing each time they put money in the envelope. They also have to show proof of where the money came from eg wages from side hustles. I saw a video of a guy turned away by a bank and he took proof of his you tube channel… They agreed to deposit the cash. He does the show box challenge.
@@Probity100 I thought you can deposit what the f you want!!! I don't because I live with $210 / mo. but...why can't you dep in your own acct??? They watch EVERY single dime??????? Whew!
Thank God I am destitute.
What !!!!
@@diving.deep. they want to know where it came from. You have to have a legit paper trail. Otherwise it could be illegally gained money. Cash deposits in small and once in awhile are ok but large amounts are suspicious. Just do the saving of money in a savings account instead of homemade structure.
However very impressive that's one way no to ask for a loan
Sure, you have to have it first
I did 10,000 in 3 months. Putting away 3k just for savings. And lived on a hard tough budget.
Helps to make more
@Stand up shorts Trust me I have been living 3 months since 1st Jan on Rice Soy Sauce, chilli and chick peas. Not shopping. Not buying anything. Not even clothes. I know it's a struggle but aim to collect wealth and build wealth. Don't want that paycheck to paycheck lifestyle and it is possible.
@@Clipahoy just curious you make more than 60 a year?
@Stand up shorts I work in a warehouse and I make 70k
@@Clipahoy there you go bro, keep hustling
52 weeks in a year. 100 envelopes with this method of one a week will get you over 5k saved. But it will take two years not one. Great idea to get ppl started in saving!
48 buddy
@@BaccoMCTthere are 52 weeks in a year not 48…
Wrong. She said the both of them so it's 10k total like she said.
She also said 2 a week
She said the have 100 envelopes on each sode
Wow. Thanks for posting the video. I never thought of this method. 😊I will definitely give it a try
Here is another trick to accelerate your savings. Add an additional 3-5% onto all of your spending and put that into savings.
For an example, if you go out to a theater and spend a total of $100, add 5% to bring the total to $105 then put the $5 into savings.
By incorporating your savings into your spending you are forcing yourself to save.
Great idea thankyou
IF YOU HAVE MONEY TO SAVE!!! Do not save it in a box,piggy bank, etc…Invest that money in a high yield savings account with 5% interest or more for 5-10 years and let your money grow!!!How is your money going to earn interest sitting in a box at home???
Exactly. It's a dumbass idea. And if there is a fire or burglary, there goes the money box.
A high yield savings account is not promised. You're pretty much just taking your chances. Plus you have to invest more which most people don't have. If anything open up a Roth IRA.
Make sure you trust your partner before doing this. How is missing money being managed?
Why would you have a partner you can't trust?
Thats a excellent idea. Lots of Love from all of us here in Bermuda
$20 Fire Proof Box Please People😢
I was helping a young boy in Central MS how to save. He was all in, even doing some “Cooking” as a side gig, and burned down his home - along with his savings.
I use a fire proof zip bag, in a fire proof safe.
The safe was $30 Walmart, and the Zipper Bags are $10 Amazon or eBay
Ok 🙏. Thank, You.
This is exactly what I did instead of buying their little binder. It was fun and felt purposeful as I wrote on the envelope...it's been going well...thank you
I keep any savings in Ally bank they have a 4.25% interest on savings accounts. You can also make savings buckets for different things. This way I am at least earning interest on top of savings. Plus I don’t have to worry if my house gets broken into or say a house fire. At least find a fireproof small safe to keep it from getting stolen or burned. 😊 If you wanted to do the envelope thing still you could put numbers in a hat and then transfer that amount to the savings account. I saw someone do this too and did it that way. Good job saving money!! 🙌😃
this helps with the mental side of building better habits since money is not a math problem if it was a math issue 87% of the world would be in debt
Gezzz what if you haven’t got the dollars 💵 to put in? I prefer your Mom’s methods saving money on everything will give you money left over to put aside for a rainy day without putting yourself under huge pressure.Lizzie, stay safe, take care Scott.
Then do something to acquire the dollars? There’s no excuses, if you really want it, then you’ll do what it takes to figure out how to make it work.
This Is a good idea just make sure you dont touch it i recommend Wrapping it up in Duck Tape
😂😂😂😂
Duct tape!? 😖😭
Or save 27.39 a day…. It’s easier…
191.73 a week. It’s the exact same amount of money….
Great idea if one can find even a dollar to save which in these time is virtually impossible due high inflation.
This could help someone save money by making it a little more interesting/fun. Money management is more important today than it has ever been. I like this.
My mother in law has been doing this for over 50 years!
It still doesn't make sense to me. If you don't have the money to put in the envelopes, it doesn't matter, why not just save your money in a bank or buy some I-bonds. I bought some back in 2001 and already made 400k in interest so far. At least my money isn't just sitting in envelopes not earning anything!! I don't understand why anyone would do it this way
Thanks for sharing this video and I hope I will try it out. ❤
Fuck it just number 100 to 1000
i personally would never leave money up to chance. dumbest financial move
you will save between 2k and 3k per person in a year, but the total combined amount will not exceed 5k
Each person would save $5050
Wtf are you talking about!? Each person saves over $5000
Invest your money and let it compound. Unless you’re trying to build a savings.
this is a good idea
Don't forget the check the serial numbers
100%!!! never know if there is old or star notes ect!
Thats pretty I love the concept
Just put the money In the bank and don’t spend it. Buy food and pay the necessary bills only.
No shopping!!🛍️. Stay home!!🏠
Keeping that money in your home is a stupid idea!!
That's a good idea just don't take it out of the box 🎁🎁🎁🎁🎁🎁❤
Or, you could put that in an account that earns you interest and won’t get stolen by some punk teenager who breaks into your house while you’re at work.
10,000 in one year? I would only be able to do that by saving about 900$ a month every month 😮!
this is ok! just do what you can afford!
Works! Saved enough for down-payment on 1st house
Cool idea, thanks for sharing it.😮
Personally i think that's a very bizarre way to save money. Most don't have the extra to even put 5.00 away
the trick of it is Habit, to create a habit, its smarter to put the money in a 5% high yield savings account but sadly america has a spending problem not a math problem so doing this builds a foundation to save
@@ScottsHonestReviews It also means having to take your cash out of an ATM.. God help you if you have a fire.
I can’t afford that shit wtf
no more mustang parts!!! lol
Pretty awesome challenge! I'll have to do the challenge over 2-years...I'm a student and poor. But by then, though, I'll have my PhD and the cash!!
So simple and yet so smart 👍✌️💸💰
Girl smart smart making your own cheaper versions instead of buying something online that looks fancier, ugh i hate that im debt free and traveling the USA 😊
Excellent idea am on board with my boyfriend!!!
Best way, if possible is payroll deduction into a savings account. 200 per week will give you 10000 in a year. Start it, then forget about it.
The money doesnt accrue interest, as it would in a bank. It actually depreciates.
this method is more about building better spending habits Than anything if money was a math problem then we wouldnt need to do this sadly Money is a human emotion problem which is why 87% of americans are in debt
Instead of putting in envelopes, put on high yield savings you earn interests.
this method is more about building better spending habits Than anything if money was a math problem then we wouldnt need to do this sadly Money is a human emotion problem which is why 87% of americans are in debt
Hey, someone was using their head with this idea
So you'll have these envelopes (containing money) just laying about the house. Therefore, it's similar to burying the mason jar in the back-yard.
If you can save it in these envelopes, you can just as well put it in the bank and let it sit there for a year.
You have to make that much over expenses to save it. Great idea for people making $10,000
Just put $95 a week in an envelope and stop playing these stupid games, math is simple
Doesn’t matter what’s on the envelope, if you don’t have the money to put on it to save.
I want to do stuff like this with my boyfriend that's fun exciting stuff to do together 👍
it really is!!
That’s exactly how I did it!
If there are two of you just need to put 96.50 in savings every week for a year.
Neat tip 👍
Any plan that gets you to save is a good one.
100%!
Im working on that miscellaneous spending
that is truly hard to control i get it!
Yes together thats they key word...
Great idea. Good luck. 👍🏾 🤞🏾
What is your situation that you maybe able to save 10k?
Working? $$
Renting?
Support family? #
Cost of bills
Other income?
Forget about paying bills, except the wifi, and phones.
The envelope works ❤❤
Or 20$ every time so it's the same. Or 50 enough to save fr fr
The way my mind works is i would had a lil more to each envelope
U can save $15,000 in just 2.5 months if u really put your mind to it, trust me. Bless up y’all great video!
How much money would you have to put away to save up to that amount in 2.5 months? How often would you have to put away money to get up to that amount in that timeframe?
@@hi.goodbye2167Don’t do this silly method. Just make a STRICT budget and set that money aside every time you get paid. $15k in 2.5 months is a lot for most people. It would mean you save either:
$6000 per month
$1500 per week (assuming 10 weeks)
$214 per day (assuming 70 days)
Saving $214 per day would mean you would have to make at least $26.75 an hour (after taxes) to even be able to think about hitting this goal lmao.
@@hi.goodbye2167you really have to be bringing in some big money to save $15,000 in 2.5 months
@@hi.goodbye2167best thing to do is automate your savings when deposits come it.
Anything that hits your account 20% goes to saving
That's close to what we make in a year.
I have the 100 envelope challenge book from Amazon! I saw it advertised on tiktok
Till theres an argument!! NOPE save by yourself
Yes I'm going to do this
Instead of having hundred envelopes, it’s better to have hundred cards with each one containing dollar amount and pick each card a week and whatever is the amount put it in your piggy bank so you don’t have to purchase hundred envelopes
Just dont let strangers know where you live
Once you put that amount in the envelope do you take it out of the shoebox or keep it in there and maybe pick that number again?
Im gonna try this
Somewhat on topic: i dated a guy for about a year (living separately). After a few months, we started a playful betting game (about 1-5 dollars per bet). We agreed it would be spent on a date together. Went to his apartment, no money on the fridge. He admitted to spending it on beer. That was the start of the end. No regrets. Money well spent..
money was placed on the fridge for both of us to enjow.
Why not just invest in an ISA and make some interest??
isa or Hys are smart the problem is it comes down to its a human problem not a math problem, so many people are in debt ( 87% ) doing it this way teaches your brain to save and not use debt anymore
Who said that.. Why stealing options there... Me and my husband did that really and saved to get lot of things when we got married and were making our great home...
Good method thnks 🥰😊
Welcome 😊
Just stop buying unnecessary stuff, shop for the best bargains, cook at home most of the time, and dedicate yourselves to saving money as a responsible person and BAM!!! YOU DID IT... No envelopes or little box needed, no having to pick out any envelopes, or anything else. Your only responsibility is place the money in a safe place. Good luck.
Starbucks is yummy
@@ScottsHonestReviews lol great example 👍
my wife does this, she is on a $100 every week and then hides it .. her goal is 20,000 before banking it,
It would work, but you'd earn more putting the money in a high yielding savings account instead of envelopes. Just pick a number and transfer the money to it.
That would be a lot safer
Hey y’all are catching on!!! It’s not hard to save. It’s not hard to buy your own shit! Good luck y’all! Make your dreams come true!
Excellent idea
Some people just save every $5 note they get
What is your on a fixed income and don’t make 10k a year? Any suggestions for disabled persons?
Theres a few options, of course doing things online to make extra income, like sell stuff on etsy ect, but if your on a fixed income and dont want to find a way for extra income that is ok to, what i would Start doing is Every time your paid just simply take out 1 Dollar. and put it away. do that for 2 months, Then slowly work up to 2$ and every 3 months take out more and more 3$ then 4$ while it sounds silly. this is training your brain and training you to live on even less while saving some money, over a year it will add up, for more advice you can check out our other page, www.youtube.com/@TheInsightfulWenger/playlists
Not 10,000 in one year. 5,252 to be exact. You could just save 101.00 a week, too.
Great idea.
Girl if your house burns down