6 Habits That MIGHT Keep You Living Paycheck to Paycheck/Budgeting and Frugal Living
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- Опубликовано: 7 июл 2024
- Budgeting and frugal living has changed my life. These habits MIGHT be keeping you living paycheck to paycheck. Once you've heard them all, think about whether you might consider changing up these habits if you are participating in any of them that are keeping you living paycheck to paycheck.
Recommended:
Things That Matter: Overcoming Distraction to Pursue a More Meaningful Life by Joshua Becker
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How to Create Your First Budget that ACTUALLY WORKS!/How to Budget (KATE KADEN)
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“Credit cards are NOT income” The best phrase I have heard in a while! I am completely debt free, including house, cars and cards. I always budget including donating, savings/investing, entertainment, travel, dining out etc.
Over a year ago I started following your advice. I check my accounts every morning. Two observations: 1. Knowing what I was dealing with financially instantly relieved most if not all of my stress. 2. I had been throwing away $60-$120 a month in bounce fees. Not any more! I have not incurred any overdraft fees in over a year! Thank you for your guidance and inspiration!
Laura I AM SO PROUD OF YOU!!!!!!!! 😍😍
Great video .... on the subject of being embarassed in front of friends, I am fortunate to have good friends who understand and respect my choices. Earlier this week I went to the movies with a friend (planned for a few weeks, went to a matinee so cost was $4.75) and she invited me to go out to eat afterward as she had won a gift card to a local brew pub. Enjoyed the movie, no guilt at all then went to the Pub only to find it was closed on MOndays (we didn't check in advance but should have anticipated this common situation. So, we went to a chain place next door. I had not anticipated this cost but had personal money and decided to buy just an appetizer, drank water and could pay just $10 including a tip. MY friend asked a few times if I had enough or if she could pay as she had invited me out. But I just explained that I am not poor, I have the money but am choosing to live off a specific budget, that I set and have complete control over, in order to meet a few specific goals. SHe understood and most importantly respect the decision and let it go. Had a great night out, all within budget. But, if I had friends that pressured me or made me feel guilty, I would reassess my choice of friends and how much time I spent with them.
Good morning KSquad! Kate is so on target with this video! Everything mentioned here is accurate! I have been practicing frugal living for the last 10 years! When I got a grip on my finances, I had 13 credit cards = $75,000, a mortgage, I couldn’t afford, $700 in my savings, no investments. 🤮🤮🤮
Fast forward to today. No credit card debt, 5 years from mortgage being paid off, 6 month EF, investments that should give us a very nice retirement and peace in my heart!!! Don’t ever think you are too far gone to turn it around! My hubby and I changed our life around without declaring bankruptcy or doing credit counseling. We busted our butts and paid everything off. Downsized our home and lived within our means while raising two kids! You can do it too!!!! Love to you all!
👏👏👏👏
So true 👍🏼 it takes discipline, but so worth it!
Thanks for this inspiration!
Wow you’re such an inspiration!
I hate to break up with bath and body works too Kate 😂🤣
I adopted the habit of looking at my credit card and checking account on a daily basis a few months ago. It really is empowering, and helps me make much more intentional spending decisions. Thanks Kate!
YASSS Susan! WAY TO GO!
Omg! My grandma used to do the same thing...buy stuff, hide stuff, then act like she had it forever!!!
Living BELOW our means is the biggest way we got ahead of paycheck to paycheck
YASSS!
Hi, Kate (and Kaden!)...Another good reason for checking your accounts daily is to help prevent identity theft. I recently had the unfortunate experience of someone setting up both a checking and a savings account in my name AND setting up an automatic transfer and having a debit card issued. Because I'm in my accounts every day, and the accounts were opened at a bank I already had accounts at, I was able to catch it and report it to the bank's fraud department right away before any damage was done. Thanks for all you do!
KEEPING TRACK!!!!! Saying no more often. Make the budget. Stick to the budget. Just work it! Thanks, Kate. Luv your heart.
Isn’t that what they always say? The people who look like they are flush, have all the latest toys and best vacations are also the people mortgaged to the hilt! It’s that unassuming neighbor next door who drives the older car, doesn’t go anywhere and doesn’t have those latest toys and fashions that have been socking it away.
To stop living paycheck to paycheck I stopped spending money and did no buy months. Also shopped my closet realized I own things I don't wear so no clothes shopping
Two things that enabled me to stop living paycheck to paycheck was to put savings first --gotta have that emergency fund- and stopped shopping for "stuff" as a hobby.
Yes new habits!!! I now use credit cards for convenience only. Years ago when I noticed I couldn’t pay off my balance each month I had to give myself some tough love and decided to get things under control and committed to paying off each card every single month. I also had money deducted from my paycheck to go into savings. My mantra became live below my means which enabled me to do those things.
Happy frugal Friday K-squad!
HAPPY FRUGAL FRIDAY!
I changed to healthy eating two years ago and I found my grocery savings were huge because I stopped buying the junk food.
Like everyone else inflation is killing the grocery budget but when I see pop, chips, chocolate, etc., in the flyers, I’m so happy that I no longer buy junk.
But now all those savings are definitely now being spent on chicken and fish and all those other healthy fruits and veggies that are in the budget.
Thankful for not eating junk anymore.
same.under the median preaches buying real,whole,single ingredient foods.like rice.its just rice.
oats.its just oats.things like that.instead of items that are full of Lord knows what,chemistry labs passed off as food that has the same nutritional value as starvation.
I volunteer twice a month as well to some charities.
New habits. I’ve been tracking for a long time. I’ve done really well-EXCEPT for Goodwill expenditures.
My statement told me the $ I could’ve had-if I hadn’t made so many trips. Going into GW is a slippery slope for me. Recently I began a 2 month no spend to break the habit. Then, at that time-I’ll see if I “really need” anything.
New Habits ❤️
Groceries are so expensive, but eating well keeps you out of your doctors office... And it does not have to be more expensive if you plan well. Especially if your used to take away on a regular basis. With new habits like mealplanning and creative thinking you can make a tasty healty meal in no time. (Frosen) Stirfry veggies, dried noodles and a spoonfull of penutbutter makes me happy
The "Denail" is what got me into trouble. Habit 2 is so missing in my life. Will start doing it from today. Thanks Kate ❤❤❤
Gosh, I gave too much money for a while out of a sense of guilt. I stopped completely as I realised that sometimes I did not have enough money left to pay some of my bills. I learned to be selfish.
Thanks so much for watching and sharing with us Yvette!
Hi Kate! Love your videos! I found you when I started seriously budgeting & starting a minimalist view of my home & life. It is great to have a kindred soul to learn & laugh with! I also love & thrive with being frugal! Thank you!
The embarrassment factor ( afraid to refuse invites) can definitely play a role in the paycheck to paycheck cycle.
It's so hard to back out of things after you have started. This is why I do my best to try and be really careful about anything that I am signing up for or saying yes to. This way I don't have to awkwardly back out later.
I used to do the cc one 🤦♀️ first time I got a cc I thought ha! Free money 💰well, 3 years later I am paying down that debt with very high interest, and I do not intend to use it until it is paid off and I can get rewards on it. Lesson learned 😇
Love your videos Kate! I just needed to comment about the women hiding purchases. I feel for many that is more about a controlling spouse than financial issues.
Thank you so so much for watching and sharing with us!
All you touched on is so true! I had reached the end of my rope living paycheck to paycheck. Talk about stress. 😲😯😬 Three years ago I saved for a downsize move. I took the extra money leftover into emergency fund. That was right after I discovered you. You encouraged us to give. It feels so good! Thank you Kate for everything! ❤💐❤
Judy thank you so so much!
❤️some people have a hard time differentiating between wants and needs. It is nice to want things but you have to consider not only the cost but how much you have to work for it. Love your videos!!
This was my first month putting all my purchases in spreadsheet. I did it very detailed - cost of every single product / expense. It worked out very great. ✨ This habbit keeps away from not needed purchases.
I don't live paycheck to paycheck but need some NEW HABITS to deal with grocery and gas categories in our budget.
ahhh New Habits! The word "budget" does trigger something negative-- so I call it "My Monthly Spending Plan" - Tracking- tracking is the key!
Yes. Candles
I'm doing a no/low spend year. One item I needed to replace was a pair of navy flats. I just couldn't bring myself to spend the money. I had an epiphany last week when I realized that I had many rewards on my credit card and opened up two windows one for DSW and one for my credit card. I found the shoes I needed and ordered an electronic gift card for just the right amount. Received the electronic gift card and flipped the screen to input the shoes and just like that I replaced my beater up old shoes and didn't use any money from my budget. I was happy with this. Side note - I pay my cc off every month and don't use my rewards. I just let them accumulate. This was such a great financial win 🏆 Sometimes you need to think outside the box.
New Habits...Ive been watching u 4 sum years now. And the big changes were b4 i watched u bc i got Daves Ramsey book and that has put that into effect 4 me when u got it. It helped me after i did my bankrupcty back in 2009...😊😊
Another Great Video Kate!
All all all! I’m so convicted! I’m going to delete my Amazon app and call my credit card companies to shut them down! I’m also going to plan a budget (again) after abandoning it several months ago. I must find something to do other than decorate and spend money!
I would rather be on a budget than have the stress of not being on a budget! To me, it's as important as the windshield on my car...I can clearly see where I am and where I'm going. I use the free version of Every Dollar, and it is extremely user-friendly.
New Habits!!!! You are spot on, as always ❤️🎉
"making more money is not the problem!" well said! thank you for this video
Lol, I haven’t bought clothes in a long time, but every time I wear something my 6 year old hasn’t seen, she asks it it’s new. So since it actually has been a while, I say, “no, I’ve had this for years.” The other day, she walked out of her room with a roll of packing tape (I’m an eBay seller), and I asked her where she got it from?! She goes, “I’ve had this for years!” 😂😂😂
NEW HABITS!
Thanks for coming this morning! HAPPY FRUGAL FRIDAY!
Lmao🤣I use to do bath and body works Hauls. No more.
I SO Thank You For your insight
New habits, thanks.
New habits ❤️
TRACKING is like MAGIC , you look with big eyes, gasp and WONDER WHERE DID THAT GO ? And once you continue TO LOOK AND TRACK money will come BACK . And it will bring you joy and smile for ever to remember!!! 🎩
The number #1 thing that helped me was BUDGET, BUDGET and BUDGET!!! It is a game changer in your finances 😊.
Kate, I thought of you today. 🎶"It's gonna be May"🎶😁
Awesome 👏
New habits! Woooooo!
I keep re-watching your videos and picking up on something new! I had a problem with credit cards all through college and now am almost completely credit card debt free (one remaining)! I am also fortunate to have most of my family understanding of my desire to be debt free and supporting it 🙂
Love this!
New habits! I had recently automated giving at my work because they match it!
Happy frugal Friday Kate! Let´s look for some new habits
New habits!👍
Thank you for Kate.. it was a great video.. with good advice....
Great video, so much sense!
Thank you tons Laurinda❤️🙏😍 hope you are having an amazing weekend!
It’s funny what you said about Bath and bodyworks. That is me. I made it my new year thing for 2022 not to buy anymore bath&bodyworks.
gotta make some new habits! totally agree with donations!
The one thing that helped me tremendously: Practicing delayed gratification.
There is so much that I do NOT need and that will not and does not make me happy. Those things I can do without. I had to practice delayed gratification first to figure that out.
I agree with you!! I will wait at least a week to see if I still want the item. Most of the time the answer is no! If I still want or need an item, I look on eBay or thrift stores first.
NEW HABITS.Glad to see you doing better.
Doing up a budget really helped me.. also doing the cash envelopes… I know it’s not your thing but I’m a visual person and like to see actual money going into the envelopes…
NEW HABITS!!! 🎉🎉🎉
Tracking may be hardest but best!!
I ordered a couple of birthday treats - Joshua B new book was at the top of the list
I have a budget in progress, but I am still struggling way too often with wanting to buy something. I think it’s because I know that if I don’t get it for myself that there is no one else who is going to do it for me. I don’t go into debt to get it, but I transfer money around in my budget from category to category. I really want to work harder to keep myself to the amount of money that I have assigned to each category. I’m the one, after all, who set up the amounts that I think I’ll need, so I’d like to learn to stick to it ! This was another great video, Kate. Have a great weekend!
Are these things you actually need or, can you slide buying 1 to 12 months? If it can slide, set up an envelope, drinking glass, sugar bowl or some other container to put your budgeted amount of cash for those things you want to buy. Do it early in the month so you won't sluff it into a different category. Optionally, take remaining funds from other accounts at the end of the month, convert it to cash, and stuff it in the sugar bowl. At the beginning of the next month do the same and continue to do so until you have enough to buy what you want.
Another great one!! Thank you! I work on all of these, all the time, as I can always get better. I'm happy to say that I've been truly mindful about my spending by really pausing before making any purchases. :)
New habits!😊
I got into that credit card trap you mentioned...so glad that's in the past!
My one big change was to stop using companies easy pays, flex pays...etc( I'd have over $1000 a month on just those seemingly small installments)they add up; esp for big ticket items, or after Christmas 🤑
Thank you for always breaking down the reality of saving money .
Kate your right! If I wanna meet my long term goals I gotta rein it in while these prices are nuts. Also Mr. Ham is best KSquad member
I am struggling with time management lately. End of the semester is rough. Hearing you tell me I need to look at my statements (how much work I have to do) is the tough love I needed.
New Habits 🌞
I can't wait to read Joshua's book. I am on wait list for audio version at my library. I laughed at the Bath and Body works talk. Now that we are completely debt free house and all, I have started buying Bath and Body works hand soaps. It brings me joy! LOL Have a great day K-Squad!
New Habits..I love the tough love🙏❤️..
😀
Happy Frugal Friday, Kate and KSquad!!! What a wonderful video! I’m so glad you’re feeling better! I am always adjusting, but the budget has been the game changer for me. In two years, I have been able to cash flow three vacations (Number 3 starts today)! Always learning new methods and means, and always more peaceful. And Joshua Becker! Just got his new book and I can’t wait to start reading! Can we do a very special episode devoted to this??? Much love and cheers! ❤️🍷
continuing these new habits daily!!! they work!!!
YASSS!
NEW HABITS ☺️
I love your energy, your tips and your channel....thank you thank you....
Catherine!!! Thank you so so much!!!!
Giving Money Away- Kate and K-Squad. Yesterday I set up monthly donations (2). One to "no kids hungry" the other to a statewide candidate. For me it DOES feel different. And better...thanks Kate
LOVE THIS!!!!!!!!!
Hey girl. Great video as always. I’d love to see your review of Joshua Becker’s book. Keep up the great content. Hi to Buns. 😻
New habits!!! I love how you have such realistic advice! Others I’ve watched seem to assume people can save everything they make and forget about real life! Keep the great, realistic financial advice!
NEW HABITS 🎉
Just finished the minimalist home and my order for things that matter came in yesterday, love his books!! 😃
Great video. I could so relate to the saying yes even tough you could not really afford it. One of the things we struggled with was gift giving. When we finally approached our family about the lavish gift giving expectations, we were met with pushback. (My in laws live off of their credit cards). We held fast but they were not happy. My husband wanted to give in but I held firm and we finally just had to say, this is what we can afford. This was a long time ago but I always consider it to be was our first step at being real with our money. On another note, Vera Bradley used to be my Bath and Body works. I unsubscribed stopped following them on social media.
YASSS KIM! HAPPY FRUGAL FRIDAY!
Kim, I used to buy a new Vera purse and matching wallet every season; winter, spring, summer, and fall.
Ugh....then I got on the Dave Ramsey baby steps and quit that habit.
I have a black Vera I have used for a few years.
My spending habits have changed dramatically.
@@rhondavigil795 Me too. Every season, I also switch to a black pattern. I still have my previous collection but have not bought a new one in years. Glad to know I am not alone.
@@rhondavigil795 Yea for Dave Ramsey. I started following him and and am debt free except the house and I've paid off 40,000 extra on it this year:)
Happy frugal Friday Kate 👍 I appreciate your time and energy, especially this week, putting all this together 💙 Being better is better 😊
THANK YOU SO MUCH SANDRA! HAPPY FRUGAL FRIDAY!
New habits🥳
New subscriber here because you give good advice. It's good to be a budget nerd! 👍 Oh, and hi Buns!
Welcome to the family🙏I’m so glad you’re here!
Great video and great job matching your shirt with the computer screen! The best thing I did was leaving California to move back to South Carolina! It was a game changer!
Just realised the blazer over the Kaquad "Buns says hi" shirt! Love it! 😂 Business Buns.
YASSSS!!!!! BUSINESS BUNS! LOL!
Thanks, Kate! His book is on my list. xo
I REALLY enjoyed it!
New habits!!
It’s important not to be fearful and to o ow where you are with your finances. Good stuff!
New habits!
I don't haul anymore! 😂
We were able to stop living paycheck to paycheck by following Dave Ramsey's baby steps and paying off the credit cards. Every time things get a little tight with the money, I return to my budget and realize that I haven't been following it exactly. Simply taking the time to check in on the money and track it almost every day, like you said, makes all the difference.
I enjoy your videos. I have gotten a lot of useful information and advice which has encouraged me to improve myself - not only financially and health wise.
Thank you and keep the videos coming!
👍
Denise, this makes me so happy!!! So proud of you!!!! I’ll keep them coming ❤️🥰❤️🥰
Thank you Kate for video, we need more practical example from your life.
Bills on Autopay and also saving when i can automatically.
Yass!!
Awesome frugal Friday video, Kate! I have battled with most of these except a credit card step, because I never had a credit card! Now, the one I will be working on is giving money away, and I will start giving money to more charities! That is where my giving will go! Since my finances are where I want it to be for now! I will start working on the giving portion! “It is better to give than to receive.“ awesome breakdown! Have an awesome frugal Friday, and amazing weekend Kate!
Working on new habits! I actually have a big note in caps on my budget sheet that says “Get spending under control”!!! I’m not sure why but the last couple months I’ve been spending money that I shouldn’t. :(