MONEY HABITS KEEPING YOU BROKE & What to do INSTEAD

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  • Опубликовано: 30 окт 2024

Комментарии • 350

  • @rachel.the.riveter
    @rachel.the.riveter Год назад +110

    "Stop late night browsing on Amazon."
    My husband yelled "AMEN, HALLELUJAH! from the other room.

  • @katieallen3927
    @katieallen3927 Год назад +191

    I started saving for retirement at age 22. I started small putting in the required minimum. From then on every time I got a raise I increased my contribution by 1% keeping the rest in my budget until I was saving the maximum that my company matched. So I contributed 7% of my income which the company matched letting me save 14%.. I retired early at age 63.

    • @yvonnesmith2578
      @yvonnesmith2578 Год назад +10

      Katie you are one of the smart ones!

    • @paulofell9939
      @paulofell9939 Год назад +28

      Am I the only one who finds it sad that we are so enslaved that 22-63 is considered retiring early. 💔

    • @pri.sci.lla.
      @pri.sci.lla. Год назад +6

      @@paulofell9939 not at all, it really shows that even by doing the “right” thing (starting to save early) doesn’t really pay off. Unfortunately this is why most people can’t retire, or have to come out of retirement to survive.

    • @mwinchester66
      @mwinchester66 Год назад +5

      I don't do that (and many will think it's dumb), I save the money myself instead of gambling it with the stock market (that's all it is). All it takes is a stock market crash, great depression to lose it all. I use all that money to pay off my house first. The first thing they'll take when sh*t hits the fan is your retirement money. Look at France.

    • @paulofell9939
      @paulofell9939 Год назад +2

      @@pri.sci.lla. I think more people need to get out of the system buy some land raise your own food. It really doesn't make sense to me. We work for things we can't even take with us

  • @E.S.K.
    @E.S.K. Год назад +13

    I started saving money and being frugal 8 years ago, when I was 25. I started because...I stopped smoking and had all this extra money.
    Now I had a lot of cash in my saving account and I started travel! I've always want to do that but I never had a money before (when I smoked cigaretts). It's a blast! I'm married now, and my husband makes over 3 times as I do. He even said that I don't need to work. But I want to. Having my own money is a such of freedom.
    I still make my groceries like Christina (clearans food, generics brands etc.) and my parents thinks that this is weird. But who cares ;)

  • @rhondavigil795
    @rhondavigil795 Год назад +63

    We are Debt free, mortgage free, and retired early.
    Such great advice here.
    Saving for retirement is very important.

    • @nancybrewer8494
      @nancybrewer8494 Год назад +2

      Us too!

    • @andielliott7721
      @andielliott7721 Год назад +2

      As we did and are too.

    • @yvonnesmith2578
      @yvonnesmith2578 Год назад +1

      @@andielliott7721 You are one of the Smart Ones!! Enjoy your retirement you deserve it!😁

    • @CH-yk1op
      @CH-yk1op Год назад

      Us too- still frugal. This is super solid advice.

  • @marthamary9273
    @marthamary9273 Год назад +16

    Tip for Christmas with kids:
    We give our kids gifts on st Nicholas day dec 6th. It is wonderful! No stress to get to church or to visit family, the kids have time to enjoy their presents and they are not tempted every single day for the rest of the month with changing their list etc. And we can focus on Jesus on Christmas Day.

  • @ImallamaToo
    @ImallamaToo Год назад +92

    I needed to hear this. My husband was off work ALL of last year due to health reasons, plus I lost my job. We exhausted our savings, and accumulated debt in the process (we were debt free going into it thankfully). Now we feel like we're starting from scratch all over again. He's 55, and we do have some in retirement, but not enough. I'm putting everything extra on bills, then plan to catch up on retirement savings. Life happens, and health problems or job loss can throw a huge monkey wrench into plans.

    • @jmbirdsong5605
      @jmbirdsong5605 Год назад +5

      Honestly I would pay myself first towards retirement, and then prioritize the bills afterwards. Because I wish that was what I had done when I worked somewhere that had a match. Life is unpredictable, there will always be bills and there will not always be enough money. I am not in a situation I planned to be in when I retired and I wish I had saved more towards retirement which would help now with the bills. But whatever you decide I do wish you good luck in the future.

    • @jgjg3848
      @jgjg3848 Год назад

      @@jmbirdsong5605 People are losing so much of their retirements right now. So, you may actually be at the same $ amount now as you would have been had you been contributing more. My stomach turns every time I have to check my retirement. Most people have lost between 25-50% of their retirement savings over the last 2 years.

    • @HLS70
      @HLS70 Год назад +5

      Same, girl!!!
      I
      (Female, 52)had 2 back surgeries and a knee replacement and was off a whole year while my husband (59)lost his job for 5 months before finding a new one. Burned through savings, cash in tye safe, etc, etc. We are now both working but we are so far behind getting back on track for retirement.

    • @jeanne21112
      @jeanne21112 Год назад +10

      I was off for over a year due to surgeries, so I get this. I'm now paying off debt like mad with an end date of summer 2024. That includes student loans. When I started out, I had 60k in student loans! Now I'm down to 10k.

  • @pabulumm
    @pabulumm Год назад +9

    Your local library!! Tons of free entertainment options to be had there! Books, music, movies, access to computers with internet etc. At mine they have free crafts and events for kids (and adults!) all the time. I hear some libraries even have lending libraries for tools and things I never would've thought they'd have!

  • @jlbnerdy
    @jlbnerdy Год назад +48

    Fun thing I'm realizing (that Minimal Mom has continually preached): if you declutter your kitchen, you are more likely to cook. Hubs & I would go out multiple times a week to eat but since we moved into a smaller apt with a more concise kitchen, we've been cooking & even eating leftovers so much more!

    • @happycook6737
      @happycook6737 Год назад +11

      For me it was a huge mind shift from "I deserve a treat of eating out" to "Why am I paying 3x more for unhealthy food? Don't I deserve to take that money and line my own pockets instead of a restaurant owner?"

    • @jlbnerdy
      @jlbnerdy Год назад +4

      @@happycook6737 for sure. We still go out some buy maybe once or twice a week (mostly weekends) & it's a lot easier to say nah let's just eat at home

    • @LauraStepney
      @LauraStepney Год назад +2

      So true! I've also noticed that if I make sure the kitchen is clean before bed I'm more likely to make good decisions the next day.

    • @Ren-ge6rh
      @Ren-ge6rh Год назад +1

      Yes!!!

  • @tania2918
    @tania2918 Год назад +33

    I'm part of the 1% living outside the US..watching from Europe! We have mandatory retirement contributions, but everything else are actionable tips! thank you Christine!

    • @happycook6737
      @happycook6737 Год назад +3

      We have a mandatory retirement contribution in the USA called social security. The problem is people think it will be enough but it won't be.

    • @tania2918
      @tania2918 Год назад +1

      @@happycook6737 I had no idea! In our case we have 2 different contributions: one to social security: 11% of your income (for everyone), and the "IRS" monthly retention which in my case is over 18% of my income (this one is dependant on your salary it increases the percentage)

    • @DaferrFN
      @DaferrFN Год назад

      ​@@happycook6737same in Swizerland. Even though we have social security, it is not nearly enough to get by here. So people have 1 or 2 retirement complements.
      Mine are not enough as I was a stay at home mom and still work only part-time.
      So it is something I think about a lot

  • @Zentranii
    @Zentranii Год назад +16

    i was one of those ppl you described in the beginning. I never knew whats going on with my finances. I hated not toknow, but I just didnt wanna look at the disaster. A few month ago (when it was really bad finacially), i took some time, started an excel sheet and dug thru all my papers. I listed my income and spendings. Turns out its not as bad as i thought. I started to pay things of i thought i couldnt afford to pay off and I list everything i spend immediatly! Excel does the math for me. It feels so good. And dare I say, I am very proud of myself for doing that. I highly suggest to everybody who is not doing that, to do it!

  • @kathychatterton5623
    @kathychatterton5623 Год назад +15

    Love your financial videos. My ex was a financial disaster. After our divorce (for other reasons) I restarted from scratch (actually less than scratch, lost all money invested in our home) at age 35. I was able to retire at age 60. I put all of every raise into savings unless I was feeling the pinch of not being able to pay my bills then I kept 1% of each raise and banked the rest. I worked more than one job when able. By the time I retired I had no debt of any kind, and a fully paid off home. I’ve been retired now for eight years and, live comfortable and still save money each month.

    • @DaferrFN
      @DaferrFN Год назад

      My mom went theough the same thing but she was married for 35 years. She started from scratch and is no financialy stable on single income , and she never able to be while married.
      Sometimes starting again is not such a bad thing

    • @Firsona
      @Firsona Год назад

      I've just done the same thing, and I admit I 'm anxious about my future. I always worked, but I wasn't in control of our joint fiances, or even my own personal ones until the end... Left an abusive relationship at 35, took nothing with me but a car the bank owns , my cat and 1300 of personal savings he couldn't get to. I'm looking at going back to school, just trying to get my feet under me with a job that'll pay my bills first.

  • @sandijsmith8295
    @sandijsmith8295 Год назад +9

    I started putting $25/month into a 401k when I was 20 yrs old. Best thing I ever did! The amount was adjusted as finances allowed. Hubs started much later in life but together we’ve been able to live debt free for years, send our kids to college with no loans or need for them to work and most recently build our dream retirement home. It wasn’t easy and we made plenty of mistakes along the way. But well worth it in the end. Great advise Christine!

  • @carrie402
    @carrie402 Год назад +60

    This was all extremely good advice. As an older gal (I'm 64) I would like to add that it would be prudent to think about purchasing long term care insurance while your young and healthy. My husband and I did not do this, and he is now going to have to be placed in a memory care facility over an hour from where I live in a different state. There are no facilities that I can afford in my town. They are all 8-10K a month. It is not fun to think about and plan for, but you never know what is going to happen 30-40 years down the road as far as your health goes.

    • @mountaingarden8823
      @mountaingarden8823 Год назад +1

      I wish we had done this as well. Will you be relocating to be near or making the long drive?

    • @carrie402
      @carrie402 Год назад +3

      @@mountaingarden8823 I will make the drive. Thank you for your comment Mountain Garden.

    • @No-sv6mu
      @No-sv6mu Год назад +4

      My husband and I are hovering around 40. We looked into long term care insurance and unfortunately many aren't offering it anymore. I was also advised that since dementia runs in my husband's family, he would probably be denied anyways

    • @carrie402
      @carrie402 Год назад +3

      @@No-sv6mu I'm sorry to hear that No. I guess the best you can do is put aside $ so that if you have to face this later you'll at least have some money to help with the cost of care.

    • @key6157
      @key6157 Год назад +3

      No long term care insurance reimburses 8-10000 per month anyway. Save as much as you can and do the best that you can.

  • @Lfgyf
    @Lfgyf Год назад +44

    Recently, I got into the RUclips financial niche, and I’ve taken a deep dive into investing. Particularly, stocks as it interests me. I have tried multiple methods to build my portfolio in the past. So far I’m making progress the help of a fund manager. Back to the video, wonderful job there. I always look forward to more of your content.

    • @Lfgyf
      @Lfgyf Год назад +4

      Investing without sufficient knowledge deems your chances of being profitable at an inherently high rate because it is risky and requires considerable skill as individuals who attempt to invest themselves end up losing money. Profiting from the stock market is possible, personally, I don't underestimate the role that professional guidance plays as Herman W Jonas, a fund manager of repute has given me an edge over the rest of the market which has propelled me to gain of $72k from investing $12k.

    • @Drhuntley
      @Drhuntley Год назад +6

      I invest because it affords me and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising the rate at which I’ve been able to grow my portfolio. Even got my first payout last week. Real stand up guy.

    • @Corrabeauty
      @Corrabeauty Год назад +1

      The recommendation is helpful. I’m trying to be financially free too. I bet slots are available for new investors as I also want in.

    • @Allambeecairns
      @Allambeecairns Год назад +1

      @@Lfgyf Oh thanks for pointing out this specially as I usually skip past these because they usually sound generic. Is there a means I can reach him through? I’m going ahead to start my investing process with him.

    • @Lfgyf
      @Lfgyf Год назад +3

      Sure, Hermanw jonas (a g mal comm

  • @loubee8503
    @loubee8503 Год назад +7

    My husband and I have put these suggestions into practice the entirety of our married life. We raised a son, put him through university, and taught him these money management tips. We are now comfortably retired at ages 60 & 62. These tips WORK!

  • @oregoncoastmama3004
    @oregoncoastmama3004 Год назад +22

    Saving money for Christmas has been a life saver for us. We love having big Christmas's for our kids and the last 3-4 years or so I finally started getting serious about saving and NOT TOUCHING the Christmas account. We have automatic drafts come out 2x a month for it and Christmas season is a lot let stressful because of it.

  • @BrynneC
    @BrynneC Год назад +25

    I wish I could have seen this video when I was 23 😣 in a terrible financial place at 35 now. They need practical info like this in schools. We never learned anything like this.

    • @matemahe
      @matemahe Год назад +1

      I hate that ppl claim this but its literally taught in basic math class. Plus American history touches base on taxes too

    • @BrynneC
      @BrynneC Год назад

      @@matemahe Canadian here and briefly they touched on budgeting when I was maybe 15 but it was like ‘you’re a single parent of a 6 year old kid who has these expenses and you make $5000 a month, balance this budget’ never anything about taxes or retirement savings

    • @lashelthompson745
      @lashelthompson745 Год назад +4

      Good luck in your journey! You can't change the past but over time and using the tips things will get better. You can do it!

  • @karenk380
    @karenk380 Год назад +7

    And make a will! So if you die before retiring, the people you love or the organization you appreciate gets your hard earned and hard saved money.

  • @yvonnesmith2578
    @yvonnesmith2578 Год назад +29

    This was one of the most useful segments that I have seen regarding Money $$ Practical, no-nonsense advice. I wish I had gotten this info when I was young! And the young people seeing this, PLEASE take & use her advice. No one ever said “ I’m sorry I saved for my retirement”!

    • @lauramcnally1805
      @lauramcnally1805 Год назад

      This was good la MN d practical, but what about people who live paycheck to paycheck with things like daycare bills and car emergencies?

  • @angelahawkins8069
    @angelahawkins8069 Год назад +6

    If you had a bootcamp for finances there would be a lot that would sign up. ✋️
    I am thankful for one thing. I work for a Public Service agency and made all my required payments (income driven) and as of today, 1st day of Spring I no longer have Student Loan debt!! I am the poster child for having made wrong choices on this...where my life is concerned. I praise Jesus I owned it, paid, and now FREE!! I love your advise Christine, and you lead by example!❤

  • @phxfarmer4844
    @phxfarmer4844 Год назад +10

    I love this lady videos she makes videos that matter to real people

  • @No-sv6mu
    @No-sv6mu Год назад +9

    My husband yells at his coworkers. Their company matches the first 3% fully and then 50% for the next 3%. They were all young and the other guys wanted to have the money available to party. Husband told them they are leaving free money on the table. Now it's been awhile. We are getting close to 40. Husband has nearly $280,000 in his 401k and his coworkers the same age have less than $50,000. I have a Roth Ira. Time is your best friend when investing.
    We have made lots of sacrifices, but we also take yearly nice vacations. We just don't go out to eat often, no Starbucks, we invest wisely. So many people we know are in such a bad position financially. They can absolutely work on fixing it. But it will be harder since there is less time

  • @aliceb4070
    @aliceb4070 Год назад +17

    I did not make the wisest financial choices when I was in my late teens and early 20s but, fortunately, I woke up and got my finances in order little by little. I started contributing to my company's 401k plan early (late 20s). That was one of the best things I could have done. I eventually started paying off debt. Becoming debt-free was the second game-changer in my financial journey (with contributing to a 401k being #1 for me). My financial journey was not easy. It was hard to go to a second or third job to pay off debt while friends were out having fun but what a difference it made in the long run. There was such a weight off my shoulders when I became debt-free. And stress that I didn't even really know I had was suddenly gone, too. The journey is so worth it.

    • @annmyers2883
      @annmyers2883 Год назад +1

      That's the same thing I did. It helps financially but not good for a good relationship with other friends and family. That's where you miss out!

  • @shall9858
    @shall9858 Год назад +10

    Love your show!!! Hello from Canada. For other Canadians watching the 401K(USA) is equivalent to our RRSP. A Roth is similar to a Canadian TFSA.

  • @dionnewright2330
    @dionnewright2330 Год назад +1

    Thanks I needed this

  • @seekingjoynow1722
    @seekingjoynow1722 Год назад +4

    I was one of those people that didn't think about money. I spent carelessly and didn't save. I had no idea how much I was wasting on earing out and buying clothes I didn't need. I have changed and love channels like yours. I am tracking my spending and using money responsibly now.

  • @Bunny422MM
    @Bunny422MM Год назад +5

    You’ve talked multiple times about the importance of life insurance and I finally talked to someone through work and found out how amazingly affordable an INCREDIBLE peace of mind can be. My family thanks you 😊

  • @colleenmadden1306
    @colleenmadden1306 Год назад +2

    We are a few months away to being debt free...the closer we get,I can feel the freedom!I used to get a dopamine rush from shopping...NOW I GET ONE AS I PAY OFF A DEBT!!!

  • @alexanderschwarm7755
    @alexanderschwarm7755 Год назад +8

    You are such a burst of positive energy, thank you for all the great content

  • @evietomlinson632
    @evietomlinson632 Год назад +1

    That SNL skit is my favorite! My husband and I quote this one frequently. Great tips!

  • @debrahill7519
    @debrahill7519 Год назад +4

    I am the poster child for not being ready for retirement. Wurst thing was helping family too much and now I am living on SS and it is scary.

  • @NaomiC336
    @NaomiC336 Год назад +16

    I told the ‘kids’ at work to save $50 a month. A couple of comments were, “I can’t afford it”. I watched them spend that much in coffee for the month, Amazon shopping, etc. wish I had someone tell me that as a kid. We were not so well informed back then.

  • @mallory1989
    @mallory1989 Год назад +10

    I also recommend prepaying for funeral expenses at a young age, especially if you know you will always be in the area. If not, making sure to have someone you trust as your pay upon death on bank accounts. My family has had 3 deaths recently. One was my 30 year old cousin. Even with a will in place it takes months or years for loved ones to access funds. It is definitely an expensive burden to put on loved ones and you just never know what will happen.

    • @mkinkade2565
      @mkinkade2565 Год назад +3

      This helped tremendously when my FIL passed. Also think about all the fees not included in a funeral. Like the additional fee for setting the slab in place, headstone, etc.

    • @happycook6737
      @happycook6737 Год назад +4

      I recommend cremation and no funeral. Instead of a funeral gather in someone's home, etc. Funerals are ridiculous wastes of money with some costing $20k and up. Basic cremation is under $2k.

  • @heathersmeather
    @heathersmeather Год назад +3

    Christine, you are wonderful. 😁

  • @eileenhaney7307
    @eileenhaney7307 Год назад +10

    This was fantastic information. Thank you. I kept a sign in my classroom that said " A Goal Without a Plan is a Wish". I had students all the time what that ment. I was more than happy to tell them the importance of a goal for their education and their finances to help them to make it a goal and not a wish. I always prayed that they took it to heart. I am now retired and enjoying my retirement. However, I give all the credit to my parents who taught me and my siblings about setting goals.

  • @HLS70
    @HLS70 Год назад +2

    I recommend saving for a year's worth of bills. I had to back surgeries and a knee replacement, I'm 52 PLUS, my husband lost his job for 5 months of that. We burned through savings, cash in the safe, etc, etc. 3-6 months saving for emergencies is CRAP!!!
    DOUBLE EVERYTHING!

  • @janeindacochea6199
    @janeindacochea6199 Год назад +12

    Great advice, Christine. Another great tip is to increase your 401k paycheck deduction when you get a raise. You don’t have to increase by the entire raise amount - try to increase it by half your raise.

    • @HaleyHinman
      @HaleyHinman Год назад

      My 401k plan has an option to increment by 1% every year. Set it and forget it!

  • @KatieT81
    @KatieT81 Год назад +5

    I've been saving for retirement since 18 and my husband since like 23. We were the only ones in our friends group for the longest time!

  • @quackenbushmd
    @quackenbushmd Год назад +1

    so many great points… i use my credit card wisely on a budget and payoff each month, i accumulate cash back and that is my christmas savings, along with our change jar, kids always get what they want, and no stress savings…

  • @AutumnSeaveyHicks
    @AutumnSeaveyHicks Год назад +8

    You are such a gift, Christine 💜 Love your videos!

  • @shelleyaubrey930
    @shelleyaubrey930 Год назад

    Busted -- 1:30 am !!!! Love visiting you and I learn everyday.!!!

  • @maryandrusyk8702
    @maryandrusyk8702 Год назад +4

    I remember going to the public library with my father to pour over the Morningstar books in the reference section when I became eligible to contribute to my 401K. He convinced me to put in 10% (never changed it) and when I transferred it to an IRA after 23 years at that job it was a very hefty sum. Still working on reducing debt but my future self will be set.

  • @kelseyschnipke4341
    @kelseyschnipke4341 Год назад +7

    Amen! Thank you for putting this info out there. I work in the financial sector and am shocked at how many adults don’ t know basic financial info. Appreciate you doing this ❤🎉

  • @littlemissbekah9722
    @littlemissbekah9722 Год назад +5

    Some may disagree, but if you have kids and you are still trying to get your career going see if you are eligible for WIC! No shame in it. We are benefiting from it while my husband is in college (and both of us working btw, just not making a ton yet) and then will be helping fund it when we graduate and get the well paying jobs.

  • @kagennotsuki
    @kagennotsuki Год назад +6

    I'm glad you mentioned the spousal IRA. So many people don't realize that is an option, and I have a feeling a lot of people are missing out on that.

  • @heatherlw13
    @heatherlw13 Год назад +4

    Christine, I am glad you put this on here, I saw the whiteboard video about that family budget on your podcast channel, and you could do one of those on here. (What to save for, what to pay off) It is so relevant to being frugal and I found it eye opening and interesting.

  • @slackerjo
    @slackerjo Год назад +3

    Two things come to mind:
    1) As you enter your 50s, when shopping think about replacing worn out items rather than accumulating new items. At this point in your life, you probably have what you need (and more).
    2) Sit your 5th or 6th grader down in front of a computer and show them a compound interest calculator. I grew up before computers/internet and I had a vague concept of how compound interest works but being able to punch in numbers and see the calculations really helps see how money can grow.

  • @jeanne21112
    @jeanne21112 Год назад +4

    I watch this video and I do all these things. But I started my adult life with 60k student loan debt and I'm not the only one. When your student loan debt is a mortgage payment in size, it's really hard to pull ahead. I think this is good advice for older people but younger people should have advice like: buy used cars, save for expenses that adults have (medical, dental, vehicle, etc.). Thrift what you can. Buy cheap but healthy foods, watch the salt and cholesterol. Then live at your parents, if you can, or with roommates and put ALL your money onto the student loan debt. Pay it off in 5 years. Keep expenses low low low until that debt is gone. Don't eat out, no vacations, no cats/dogs, etc etc etc. That's what I'm telling my teens every day. Prepping them for college and living at home through it to save as much as possible. Even with that, they are looking at $20-30k in debt.

  • @effielarkin3044
    @effielarkin3044 Год назад +2

    Hi there. Im still listening to your video but i had to comment. If you like saving money on groceries many times im ordering from Amazon. I do compare prices everywhere every day and i have saved a lot of money shopping Amazon for groceries. I live in CANADA in the rurals. Amazon delivers to me because i am a Prime Member and get so many movies etc with my membership. I would never dream about giving up my membership ever.
    Every time someone steps in their car to go to the store to buy
    You are spending a lot of money. I love the fact that Amazon delivers quickly. Back to your Video.

  • @traceycaldwell8007
    @traceycaldwell8007 Год назад +4

    If you are a low wage worker, do not put your money in a traditional IRA or 401K. If the only way to get matching from your employer is to use the traditional, find out from your HR how soon you can roll it out to a ROTH IRA. With a traditional IRA you are deferring the taxes, with a Roth you pay your taxes and put the money in and it grows tax free. You want to pay your taxes now, when you’re in a 10% tax bracket, and take your money out at retirement tax free. If you have a successful career you could be in a 37% tax bracket when you retire. You don’t want to pay 37% on the minimum wage you earned when you were 18 years old.

  • @victoriamorris8678
    @victoriamorris8678 Год назад +1

    And watch Dave Ramsey!!😊👍🏻👍🏻👍🏻

  • @dawnwhetzel4651
    @dawnwhetzel4651 Год назад +3

    Christine, I love your advice. Would love to see a video on advice for young first time home owners. Purchasing vs renting or building. Thanks!

  • @rangerlove7
    @rangerlove7 Год назад +1

    I live in Dallas and yes, you nailed it, people go to shows and concerts and sporting events. And restaurants. So expensive here.

  • @thedailymakermaking
    @thedailymakermaking Год назад +3

    ❤ this vlog, ❤ your channel, ❤ that you put so much help and ❤ in the world!

  • @bcworth444
    @bcworth444 Год назад

    Good for you, Christine. This needs to be said.

  • @lissetsanchez5316
    @lissetsanchez5316 Год назад

    Wise! Everything you said in this video is worth listening and DOING!

  • @cathyrowe594
    @cathyrowe594 Год назад +1

    We learned this year that a heart attack & the surgery to implant a pacemaker/defibrillator costs well over 300k & counting! Thankfully between insurance & our emergency fund, I'm not losing sleep over the bills. Couldn't have done it if we hadn't chosen to live frugally & get totally debt free years ago.

  • @katriensterckx7839
    @katriensterckx7839 Год назад +3

    In Belgium pension saving is linked to taxes so there is a limit each year. It's around 1000 euro's per year. You can save more but then the taxereturn ist high. So I save the max amount and then use my taxereturn to save for the next year

  • @carollzellmer6792
    @carollzellmer6792 Год назад +2

    Great, clear explanation of why and how to budget. Great job! Thank you!

  • @PlantsandPaints
    @PlantsandPaints Год назад

    I love Your sense of humor and personality.

  • @debtfreecharts
    @debtfreecharts Год назад

    Fantastic video - will be sharing!

  • @claudiazamora8420
    @claudiazamora8420 Год назад +4

    Thank you you just gave me hope 🙏 for my future now I know how to do it to save money 💰

  • @theprofessor4914
    @theprofessor4914 4 месяца назад

    Yes to.pay yourself first. ❤🎉

  • @clusterbungle
    @clusterbungle Год назад +2

    Great advice Christine! I'm one of the non-USA 1%, single disabled household and started saving for retirement in my 20s. It is NOT easy but I just keep thinking of the freedom it will give me in the future. I'm delaying my usual annual lump sum retirement saving this year because inflation is insane in the UK, and I've had some unexpected emergency expenses. As soon as my emergency buffer is topped back up I'll make this year's payment.

  • @julieDJTFP
    @julieDJTFP Год назад +4

    I have a way of doing this that doesn't change my quality of life. We pay for vacations with cash but still go on them even though we still owe money on our house. Disagree with the taxes as it matters how many deductions you have and not what you make. If you have more deductions than the standard deductions, then get a tax advisor (my father used to be one before he retired). Agree with saving money and that's have a savings account with at least a few months pay in it. I used to help people retire (licensed) and the one thing that matters the most is going into retirement without debt.

  • @happpymesss
    @happpymesss Год назад +1

    These finance videos are much needed. Thank you for sharing.

  • @ashleyross5874
    @ashleyross5874 Год назад +4

    I'd love to hear more on how you paid off your house early. We are working on that rn ourselves.

  • @gypsybelle4757
    @gypsybelle4757 Год назад +1

    Thank you for this practical and vital advice. Well said!

  • @Handschug7
    @Handschug7 Год назад +2

    Something that people need to know about their money and debt. You don't need a lot of money to get out of debt. We paid off over $50,000 with our social securtiy and we didn't have more then a hundred or 2 in our savings. It's easier than you think if you truly want to get out of debt.

  • @sherrydaugherty6144
    @sherrydaugherty6144 Год назад +1

    Christine and family have a great week have fun thanks from Oklahoma

  • @maliaweaver2753
    @maliaweaver2753 Год назад

    You’re a Ramsey follower! (I think). Love to see how your advice completely lines up with grandpa Dave’s advice. ❤️

  • @Vannahbabes
    @Vannahbabes Год назад +4

    Started my first 401k the same month I turned 18 and now I have my second 401k with my new job and I’m in the process of combining them 😇 ((edit: I’m currently 23))

    • @korriefisher4545
      @korriefisher4545 Год назад

      That’s awesome! I was a mom of 3 finishing my second degree at your age and wish I would have started retirement and savings as soon as I got that second degree! All those lost years 😢I’m 46 now and have only been saving for 10 years.

    • @Vannahbabes
      @Vannahbabes Год назад

      @@korriefisher4545 hey thanks!! I’ve been pretty ridiculous about saving money since I got my first job. Honestly, I think it’s been wired into my head to save save save money bc I watched my parents struggle paycheck to paycheck after the ‘08 recession.
      That being said tho… a mom of 3 at my age, definitely resolves for a different story line and children are expensive! And you grew up in different economical times than me, both generations still dealing with horrible inflation but the job market was way worse back then than it is now. Nowadays, all employers heavily encourage you to start a 401k and benefits if they have them VS the economic crisis, high unemployment rates, etc of the 2000s/2010 era. You should be proud of yourself too! You’ve come a long way!

  • @_mar_ta_
    @_mar_ta_ Год назад +1

    I'd love more money content from you! I follow every channel, so wherever you feel it fits best, I'll watch it. ;) I like to geek out about money/savings/investing, too, but I don't have a lot of people to geek out with about it, so I appreciate your videos a lot.
    Topics that come to mind:
    - how to learn to spend/use money after saving for a long time and getting used to that instead of spending them;
    - how to stay excited about a goal that's far-reaching (like retirement); mortgage is huge, too, but there's that sense that you can move the line closer and closer, and while in theory you can do the same with retirement if you invest enough, it somehow doesn't feel the same;
    - your investing mindset and/or strategy;
    - how to talk with other people about money;
    - how you come up with/prioritize which goals to focus on
    ... or anything, really! I really enjoy your budget breakdown videos on the podcast channel.
    Thanks for everything that you do!

  • @Showtunediva
    @Showtunediva Год назад

    Thank you for these tips Christine. You are awesome.❤

  • @leeannscrazylife
    @leeannscrazylife Год назад

    Thank you for explaining pay yourself first, I always assumed it was investing but I'm not there yet, other then retirement, but I definitely do a lot of savings for sinking funds, etc.

  • @kathiparshall8094
    @kathiparshall8094 Год назад

    That was a good talk. I so agree with you to get a CPA for your taxes, that has saved us a ton of headaches. We have been able to get money back too, which we used to pay off debt.

  • @lexirowe3151
    @lexirowe3151 Год назад

    All some great simple basic ideas…everyone needs to start with at least number one. You can’t move forward if you don’t know where you are starting.
    I’m so excited to say that I will be able to retire in about 7 years at age 52. 🎉🎉 I can’t wait!!!!!!!!!!

  • @cassidynick1316
    @cassidynick1316 11 месяцев назад

    Sooo helpful! I love how you talk about money (& just talk in general😂). Your delivery is superb & of course the info is always top notch as well. Maybe a money mindset video would be helpful (unless you already have some of those which I’ll go look up now😂). Thanks Christine!

  • @kimberlyalbert2400
    @kimberlyalbert2400 Год назад

    Thank you Christine!! Love money videos💰💰💰💰💰💰. Great tips.

  • @chocolatetickles
    @chocolatetickles Год назад +3

    I wish I could save for retirement. I live pay check to paycheck. I make 40k a year but I only contribute 50 a month. My debt to income ratio is high bc I bought a house in 2022.

  • @goodenoughgirl8102
    @goodenoughgirl8102 Год назад +2

    I had to flee FOO abuse and was constantly getting bullied at work. I was always in the poor house. The key for me was working on my childhood trauma and mental health. Super hard to ever “get ahead” if you are always having to quit jobs Bcuz of bullies and abuse (the cycle tends to repeat itself until you learn). Also just not excelling at work really Bcuz of the low self esteem. Plus if you’re a single parent. Another thing similar is breaking anything to do with poverty mentality to where you can’t ever imagine getting beyond bare bones survival. I had to create my own never known before stability and also be able to envision a better future before I could even think about any of this other stuff. I wasn’t usually a crazy spender, but seems like I was always never having enough or barely surviving. Better these days esp Bcuz the last time I was bullied at work, I kind of “snapped” and turned the tables on the “downtrodden life” for good.

  • @gemmamurray9817
    @gemmamurray9817 Год назад

    I've been doing the highlighting thing this year! Helping me reflect on short term goals as well as track where my money is going and if I want that to be where I'm spending

  • @susankirby4607
    @susankirby4607 Год назад

    Amen Sister!!!

  • @jennifereyler6182
    @jennifereyler6182 Год назад

    You are so smart and funny! Your fitness inspires me. Thanks!

  • @gladyschandler6724
    @gladyschandler6724 Год назад

    Great tips

  • @staceyevans4902
    @staceyevans4902 Год назад +2

    The easiest and best savings account I ever opened was the one right after I paid off my vehicle loan. I kept “making my payment” but into a separate savings account from all my other savings accounts. You’re already used to making the payment. Why not continue and let that savings account rapidly build?

  • @davidneal6920
    @davidneal6920 Год назад

    Great advice Sister

  • @justplaintara9028
    @justplaintara9028 Год назад +2

    I never allocated any raises during that raise year. That meant that it accumulated until the next raise when I would acknowledge that I had that increased income and redo my budget. And not use that increase ... BUT that excess that I accumulated went to an IRA to supplement my employer retirement benefits.
    I retired early in February and that ended up being the sexiest money ever!

  • @daliahsmith721
    @daliahsmith721 Год назад

    Have a job but I haven't been paid since mid October 2022. Living off my emergency fund until everything is sorted. So liberating not to feel stressed about my daily needs.

  • @blackrock5749
    @blackrock5749 Год назад

    Great video as usual!

  • @shaylascott6864
    @shaylascott6864 Год назад +1

    Love the videos, other great women to follow (in addition to Christine) would be the budget mom & Tori Dunlap ("You don't have to stop spending money- you just have to stop spending money on shit you don't care about.)

  • @leejay2418
    @leejay2418 Год назад

    This is very helpful. Thank you.

  • @ceecee6271
    @ceecee6271 Год назад

    One of your best videos 🎉🎉🎉

  • @rachelpratt6821
    @rachelpratt6821 Год назад

    Thank you so much for sharing your advice. I really needed to hear this. I NEED to stop spending money on frivolous things like ice Capps from Tim Hortons every day (sometimes 2 a day). Totally going to do this. Thanks again. Love your channel. I watch your videos every chance I get. Stay safe. 🩷🩷🩷

  • @jlw7189
    @jlw7189 Год назад +5

    Christine, you should show the tax ramifications of having a 401k and/or an IRA. People don't realize that by putting money in these saving vehicles their taxable income is reduced, and therefore their taxes go down. Show a comparison of investing in a 401k and their tax bill versus not investing, etc. Some people think they can't afford to pay bills and save at the same time.

    • @hakuna8374
      @hakuna8374 Год назад +1

      It's great you have this is the US.
      I live in Europe and there is no such thing. I do my best to save money in an account and I have 3 types of private pensions (one is mandatory). I sense it's not enough but it is all I can afford.

    • @username00009
      @username00009 Год назад +1

      People may also be able to do the comparison themselves using a contribution calculator in their 401k portal. If it’s not there, you can probably find one online.

  • @shandalmills7414
    @shandalmills7414 Год назад

    Great information. This year was the start of getting debt paid off. I use my side hustle to pay off a credit card since it is 40 or 50 bucks each sale. Tax refund went to debt and I have an extra 300 go out each year in state taxes so I get it back at beginning of year. Plus my job is bad about dropping ball on my county taxes. Chipping away but always progress.

  • @Mr.random599
    @Mr.random599 Год назад +1

    Every time I get a raise I bump mine up 1%. Adds up…3,4,5!😊

  • @findingaway5512
    @findingaway5512 Год назад

    I love that Saturday night sketch. It is great. 😂😂😂😂

  • @phyllisroark8526
    @phyllisroark8526 Год назад +1

    Sounds a lot like "Dave Ramsey". I have read his books, great advice. I'm still trying to get my life together as Kim would say. Hopefully we can get there. Thanks for sharing.

  • @donnamullins2089
    @donnamullins2089 Год назад

    Very good advise. Thank you.