I quit a job that wasn’t paying me well and that I wasn’t happy in because I had less time with my family. Now I have a hirer paying job and I work less with more time with family. Double win!
I'm going through the same issue, atm I'm studying new courses to increase my chances to get a new job next year and preparing my emergency funds for it😊
Yes. I turned 30 Saturday. I will start a new job on the 26th that increased my salary by 40%. I'm hoping to overhaul debt slowly, savings and managing spending. I want to do my best to continue living off my old salary to really save for what I really want. Great tips!
I would love a video dedicated to just figuring out the minimum saving rate! That would be so helpful is there an equation, a list, a spreadsheet? I have questions! ahaha. Great video
*Awesome tips that also apply to 20-something year olds like me!* I really am battling #4 - Not saving enough money. Trying to save enough right now to be financial independent by 35 while also enjoying life in my 20s!
Hi I'm Pidos from South Africa, I've just come across your videos. Thank you for changing my perspective about money. I'm 34 and I'm hopeful that I can still reach financial independence and retire comfortably.
I just turned 25 but I'm definitely taking notes! Thanks for sharing. :) We unfortunately live in a higher cost of living area and I'd love to be able to move out!
Great video! I'm early 30s and yessss I'm trying to think about all these things and avoid traps, especially staying in a job where I'm not making enough. I'm underpaid now and I really need to move. This was great content.
I got my BA at 31 and now at 32 I´m starting a 2 years masters program. I´ve been saving as much as possible after graduation (50-60% of my income) but that will all go into studying now. I consider getting my masters an investment, but it does mean that I will not be able to save up anything for the next 2 years and that makes me feel uneasy. Working more on the side is not an option
#8 was my favorite because I hear a lot of people say they’re too old to start a new career track. 30 is the prime of our lives there is always room for growth and change. #7 is easier said than done (for us) My spouse and I live in CA we’re not struggling but we wanted to live in a new state. Every job we found was a pay cut or not what we wanted and we refuse to take it. The cost of living isn’t that much lower where we were going.
You guys are amazing! You took your RUclips channel as a serious business offering incredibly organized and useful information for common people, most of whom have zero knowledge of investment hacks (or even basics!). I realized recently that I saved a relatively big amount of money but have 0 investments at the same time. I scoured the internet to figure out the best way to invest and stumbled upon your videos. I was amazed! I learned SO MUCH from you guys binge watching your videos in 72 hours than I’ve ever learned from all other sources of information combined. Thank you again for putting such sincere efforts into your info channel. Onward and upward. PS: I live in DC metro as well, and I hope you guys consider doing a meetup. You are true influencers but you trump fashion and makeup gurus by light years. 😊
The point about not having to live in a high-cost area is a big one. I also live in the DC area (I'm in Virginia), and it is so expensive compared to the Midwest, where I'm from. DC is nice for now, but my fiance and I are working toward moving out of the area to a more affordable place.
Have you considered Baltimore and the surrounding areas? Marc train goes to union station, hour commute BUT ... you can probably purchase cash with a DC income.
This was so refreshing to hear. A lot of these spoke right to my soul I just turned 30 and I could definitely resonate with a lot of what you went over here.
Amen to the cost of living thing! We moved from FL (low cost of living) to LV (much higher) just this year to be near family who need help. It’s not ideal and it’ll cost us more in many ways, but thankfully there’s always a way to make more money.
I was in an underpaid job and moved to another job with an 80% pay raise 9 months later. So you’re right about that. As for high cost of living area, I agree it’s better to move to the outskirts instead of right in the city. However living in the general area is sometimes an absolute must because the jobs pay more. It depends on what industry you’re in. It’s not necessarily the case that the savings in a low cost of living area will out weigh the decrease in pay, especially for a dual income couple. The equation may also change once kids are involved but it may still be financially better to stay in the general area since there’s better paying jobs and more job security. We live in the Bay Area and make $350K a year and we’ve only been working for two years now. Once we hit the five year mark I expect to make $450K or possibly $600K if we’re lucky.
I completely agree with not staying at a job where you're underpaid! You should always look up what salaries are in the market for someone with your skillset. It's also smart to have exploratory conversations with other employers so you can learn about your earning potential when leaving!
We live in higher cost area, but our choise was to live in our own apprtment and not in a house. We found well kept housing company and appartment with decent amount of space. Yes, it was expensive purchace but: We both walk to work -> less expences on car and only one car as we gave up the other one There is also huge supermarkets on walking distance -> Getting food cheaper than on those small stores Everything is basically on walkingdistance and it takes us 15minutes by public transport (that goes every 10minutes) to get to main station on our capital Helsinki Now, sometimes it pays off to live on higher cost area, especially if you don't need huge appartment, let alone own house. But I think it must be something like ours, area that keeps on growing, appartmets keep on getting more expensive. Also, we live in Finland. Schools and daycare are always good, we don't need to think about them that much.
I couldn’t find the link to the video she reference about why they don’t follow Dave Ramsey’s method. Can someone tell me the name of the video? I looked at the ones that were referenced in the description, but didn’t see it.
I turned 30 this past July, so this video was much needed. I only wish I would have found out about ya'lls channel at least two years ago lol. Anyway, thanks for the spilling the luractive tea, as always☕❤
Been at my current job for 6 years. Started when I was 22 and now 28. Wish I heard this 5 years ago 😭😭😭. But now I'll be done with associates degree in December and transferring to our tech department in Jan
Hi guys, Thank you for your quality content. You mentioned a alternative way to the Dave Ramsey baby steps. You said you would put it in the description box, not sure what link to click... is the investing 101?
I can not tell you how grateful I am to you guys, especially Tasha for making me believe that I am still capable of changing my life even in my early thirties. Your videos give me so much hope and strength to keep on working for the life that I want even when the circumstances and people around me are telling me the opposite. Thank you so much, Tasha, for setting an example for women like me who are trying to rebuild their lives in their early thirties. Gratitude from Bangladesh.
I love, love, love your videos, but my first languaje is spanish, and i would love that your videos were subtitled, beacuse i understand half, and its content makes me super interesting.
I’m in my 20’s but suggesting someone take on medical school debt which is huge would not be the smartest thing to do at age 30.... unless they received a full ride.
I'm sorry but that's just not true. It's really a matter of how much the school will cost, how much it will boost their earning potential, and how much joy the life change will bring them. Avoiding debt isn't always the smart choice.--Tasha
Sorry you lost me at several places. No not paying off a debit in order to save. If someone doesn't have the money to do both then they should definitely pay off the debt first. Also this may go against many of the other things said. IE don't pay off your debt, then move to a lower paying job becasue you aren't happy and then move to a cheaper area you don't love. If you pay off your debt and save you just have more options. If you can do whatever you want. Example: I went to get another degree and my company said they would pay if I stayed with them for another 5 years. I got a better offer and left. I owed them 125k and they wanted it now. But since I wasn't in debt and had been saving I wrote them a check and left to the higher paying job. The ROI on writing that check was 2.5 years. If I hadn't paid off my previous debits and saved that income I wouldn't of had the money to make that move.
The answer is a crystal clear... it depends. You have to balance debt payoff with losing liquidity, lower emergency funds, and any employer matching that you may give up. Very high interest debt payoff is a priority because you usually won't be able to make it up in your investments. Even so, you still want to have enough cash for emergencies and building an investment habit early can save you years of struggle later on in life even if it costs you more in interest now. As long as you are making progress payments on your debts, they will go away eventually, but the amount that you need to invest each year to hit your minimum retirement number increases substantially each year. Ex. 30yrs or $710/mo at 8% to hit $1 million vs. 29yrs of $774/mo at 8% to hit $1 million. The amount you had to save went up 9% by delaying a year. The last consideration is that catastrophic things can happen. If someone was working hard to payoff some high credit card balances and then had a medical emergency that ended up putting them in bankruptcy, they would have nothing at the end if all they did was pay debt. On the other hand if they balanced debt payoff with retirement investing, they would have their investments because retirement accounts are shielded from creditors in bankruptcy. -Joseph
This is very interesting! Thank you for responding in such detail, Joseph. I was thinking to pull out a small chunk of my investments to help shave off some of the high interest debt, but perhaps that’s not so smart...?
Thank you guys for the encouragement and positivity! In my 30s here and sometimes I feel “locked in” to my current career. Thank you! Y’all gained a new subscriber here!
I quit a job that wasn’t paying me well and that I wasn’t happy in because I had less time with my family. Now I have a hirer paying job and I work less with more time with family. Double win!
Great! That's the type of strategic thinking we like to see. Good for you. - Joseph
I plan on doing the same thing.
What do you do for a living?
@@Mrsqueen876 I run a zero turn mower.
I'm going through the same issue, atm I'm studying new courses to increase my chances to get a new job next year and preparing my emergency funds for it😊
Yes. I turned 30 Saturday. I will start a new job on the 26th that increased my salary by 40%. I'm hoping to overhaul debt slowly, savings and managing spending. I want to do my best to continue living off my old salary to really save for what I really want. Great tips!
Saving/Investing at least part of salary increases is a great way to build wealth without feeling like you've lost something. Happy Birthday!-Joseph
I would love a video dedicated to just figuring out the minimum saving rate! That would be so helpful is there an equation, a list, a spreadsheet? I have questions! ahaha. Great video
I just turned 30 and this video snatched my wig. It was definitely eye opening and reminded me I need to make some decisions
Minimalism can really be a big one. I don’t buy things because I don’t want to *HAVE* a bunch of stuff
*Awesome tips that also apply to 20-something year olds like me!* I really am battling #4 - Not saving enough money. Trying to save enough right now to be financial independent by 35 while also enjoying life in my 20s!
Hi I'm Pidos from South Africa, I've just come across your videos. Thank you for changing my perspective about money. I'm 34 and I'm hopeful that I can still reach financial independence and retire comfortably.
I just turned 25 but I'm definitely taking notes! Thanks for sharing. :) We unfortunately live in a higher cost of living area and I'd love to be able to move out!
Great video! I'm early 30s and yessss I'm trying to think about all these things and avoid traps, especially staying in a job where I'm not making enough. I'm underpaid now and I really need to move. This was great content.
I got my BA at 31 and now at 32 I´m starting a 2 years masters program. I´ve been saving as much as possible after graduation (50-60% of my income) but that will all go into studying now.
I consider getting my masters an investment, but it does mean that I will not be able to save up anything for the next 2 years and that makes me feel uneasy. Working more on the side is not an option
#8 was my favorite because I hear a lot of people say they’re too old to start a new career track. 30 is the prime of our lives there is always room for growth and change. #7 is easier said than done (for us) My spouse and I live in CA we’re not struggling but we wanted to live in a new state. Every job we found was a pay cut or not what we wanted and we refuse to take it. The cost of living isn’t that much lower where we were going.
Great video as always. You discussed knowing your minimum savings rate, what are so resources to help me calculate this?
I am wondering about this as well. Do you have a video explaining this, One Big Happy Life?
What you make divided by the amount you choose to save
You guys are amazing! You took your RUclips channel as a serious business offering incredibly organized and useful information for common people, most of whom have zero knowledge of investment hacks (or even basics!). I realized recently that I saved a relatively big amount of money but have 0 investments at the same time. I scoured the internet to figure out the best way to invest and stumbled upon your videos. I was amazed! I learned SO MUCH from you guys binge watching your videos in 72 hours than I’ve ever learned from all other sources of information combined. Thank you again for putting such sincere efforts into your info channel. Onward and upward. PS: I live in DC metro as well, and I hope you guys consider doing a meetup. You are true influencers but you trump fashion and makeup gurus by light years. 😊
How do you calculate your minimum savings rate?
The hardest part is deciding how much you’ll need eg: $750k
Victoria Mather calculate your yearly expenses, multiply it times 25, or 30 to be safe. That’s how much you need. Look up the 4% rule.
The point about not having to live in a high-cost area is a big one. I also live in the DC area (I'm in Virginia), and it is so expensive compared to the Midwest, where I'm from. DC is nice for now, but my fiance and I are working toward moving out of the area to a more affordable place.
Have you considered Baltimore and the surrounding areas? Marc train goes to union station, hour commute BUT ... you can probably purchase cash with a DC income.
This was so refreshing to hear. A lot of these spoke right to my soul I just turned 30 and I could definitely resonate with a lot of what you went over here.
Never buy things to impress others
True story. - Joseph
Couldn't agree more!
Amen to the cost of living thing! We moved from FL (low cost of living) to LV (much higher) just this year to be near family who need help. It’s not ideal and it’ll cost us more in many ways, but thankfully there’s always a way to make more money.
Great video! I’m turning 31 on the 25th and all of these tips were helpful. 😄
I was in an underpaid job and moved to another job with an 80% pay raise 9 months later. So you’re right about that.
As for high cost of living area, I agree it’s better to move to the outskirts instead of right in the city.
However living in the general area is sometimes an absolute must because the jobs pay more. It depends on what industry you’re in. It’s not necessarily the case that the savings in a low cost of living area will out weigh the decrease in pay, especially for a dual income couple. The equation may also change once kids are involved but it may still be financially better to stay in the general area since there’s better paying jobs and more job security.
We live in the Bay Area and make $350K a year and we’ve only been working for two years now. Once we hit the five year mark I expect to make $450K or possibly $600K if we’re lucky.
I completely agree with not staying at a job where you're underpaid! You should always look up what salaries are in the market for someone with your skillset. It's also smart to have exploratory conversations with other employers so you can learn about your earning potential when leaving!
We live in higher cost area, but our choise was to live in our own apprtment and not in a house. We found well kept housing company and appartment with decent amount of space. Yes, it was expensive purchace but:
We both walk to work -> less expences on car and only one car as we gave up the other one
There is also huge supermarkets on walking distance -> Getting food cheaper than on those small stores
Everything is basically on walkingdistance and it takes us 15minutes by public transport (that goes every 10minutes) to get to main station on our capital Helsinki
Now, sometimes it pays off to live on higher cost area, especially if you don't need huge appartment, let alone own house. But I think it must be something like ours, area that keeps on growing, appartmets keep on getting more expensive.
Also, we live in Finland. Schools and daycare are always good, we don't need to think about them that much.
Great video... Thank you for the tips👍🏽 I just subscribed
Welcome!--Tasha
Yes yes yes! Let that money work for you. Compounding interest is a magical friend lol. Great video topic and great list.
8:05 You heard it here first: Tasha is rapidly increasing her net worth doing something “not legal”!! 😉🤭😂
Yep she's a criminal
emiliabolsas She a financial gangsta 😂
I couldn’t find the link to the video she reference about why they don’t follow Dave Ramsey’s method. Can someone tell me the name of the video? I looked at the ones that were referenced in the description, but didn’t see it.
should we follow dave ramsey's baby steps?
Number 4 is obvious. But you def got to save and invest. Your future won't wait for you, so start today.
I would love to see your updated 2019 budget soon! :)
We made that video a few weeks ago.--Tasha
Such good advice that would be applicable in ones 40s, or 50s even.👍🏽👋🏽
True. Also if we avoid them in our 30s, they won't get us later on either.- Joseph
She's SO beautiful! I love the consistent information that you guys share
Truly, I love watching your content. It’s so empowering and makes me believe in my possibilities. Thanks, Tasha & Joseph!
You're welcome! Thank you for your wonderful comment and for watching. - Joseph
I turned 30 this past July, so this video was much needed. I only wish I would have found out about ya'lls channel at least two years ago lol. Anyway, thanks for the spilling the luractive tea, as always☕❤
Are you saving in a high earning savings account as well? Are you referring to saving but mean investments only?
Been at my current job for 6 years. Started when I was 22 and now 28. Wish I heard this 5 years ago 😭😭😭. But now I'll be done with associates degree in December and transferring to our tech department in Jan
Do you have any resources for calculating your minimum savings rate?
Yep! We provide them in Wealth Builders Academy. You can sign up to be notified when the doors open here: onebighappylife.com/insider
May We get an update or an opinion on investing in the stock market right?
My God !!! Preach !! 🙌🏾🙌🏾🙌🏾
Hi guys,
Thank you for your quality content.
You mentioned a alternative way to the Dave Ramsey baby steps. You said you would put it in the description box, not sure what link to click... is the investing 101?
I can not tell you how grateful I am to you guys, especially Tasha for making me believe that I am still capable of changing my life even in my early thirties. Your videos give me so much hope and strength to keep on working for the life that I want even when the circumstances and people around me are telling me the opposite. Thank you so much, Tasha, for setting an example for women like me who are trying to rebuild their lives in their early thirties. Gratitude from Bangladesh.
Great video!!! Thanks.
Great video. I am 30. Thank you guys ❤️
We're glad you enjoyed it!-Joseph
This was great!
I love, love, love your videos, but my first languaje is spanish, and i would love that your videos were subtitled, beacuse i understand half, and its content makes me super interesting.
#8, I wish someone had told me that years ago!
Can you talk about investing?
Too late...I’m already in my 40s 🤦🏽♀️🤦🏽♀️😩😩
Joshua Mackos - Financial Independence Retire Early you’re absolutely right!
Money rule #2 - Tasha you say not to stay in an underpaying job but in another video you say its okay to take a paycut so I'm confused
For some, a pay cut may still not mean being under paid.
And for some, being happy in their career is more important than earning a little more.
I’m in my 20’s but suggesting someone take on medical school debt which is huge would not be the smartest thing to do at age 30.... unless they received a full ride.
I'm sorry but that's just not true. It's really a matter of how much the school will cost, how much it will boost their earning potential, and how much joy the life change will bring them. Avoiding debt isn't always the smart choice.--Tasha
I am totally under-earning right now.
Sorry you lost me at several places. No not paying off a debit in order to save. If someone doesn't have the money to do both then they should definitely pay off the debt first. Also this may go against many of the other things said. IE don't pay off your debt, then move to a lower paying job becasue you aren't happy and then move to a cheaper area you don't love. If you pay off your debt and save you just have more options. If you can do whatever you want. Example: I went to get another degree and my company said they would pay if I stayed with them for another 5 years. I got a better offer and left. I owed them 125k and they wanted it now. But since I wasn't in debt and had been saving I wrote them a check and left to the higher paying job. The ROI on writing that check was 2.5 years. If I hadn't paid off my previous debits and saved that income I wouldn't of had the money to make that move.
Important to remember that debt that has higher interest than returns should still be paid off before saving... No?
The answer is a crystal clear... it depends. You have to balance debt payoff with losing liquidity, lower emergency funds, and any employer matching that you may give up. Very high interest debt payoff is a priority because you usually won't be able to make it up in your investments. Even so, you still want to have enough cash for emergencies and building an investment habit early can save you years of struggle later on in life even if it costs you more in interest now.
As long as you are making progress payments on your debts, they will go away eventually, but the amount that you need to invest each year to hit your minimum retirement number increases substantially each year. Ex. 30yrs or $710/mo at 8% to hit $1 million vs. 29yrs of $774/mo at 8% to hit $1 million. The amount you had to save went up 9% by delaying a year.
The last consideration is that catastrophic things can happen. If someone was working hard to payoff some high credit card balances and then had a medical emergency that ended up putting them in bankruptcy, they would have nothing at the end if all they did was pay debt. On the other hand if they balanced debt payoff with retirement investing, they would have their investments because retirement accounts are shielded from creditors in bankruptcy. -Joseph
This is very interesting! Thank you for responding in such detail, Joseph. I was thinking to pull out a small chunk of my investments to help shave off some of the high interest debt, but perhaps that’s not so smart...?
Thank you guys for the encouragement and positivity! In my 30s here and sometimes I feel “locked in” to my current career. Thank you! Y’all gained a new subscriber here!
Number 3 is me right now 😭😭 I’m miserable 😩 but the pay is good. I’m currently looking for another job even if I have to take a pay cut.
Truly, I love watching your content. It’s so empowering and makes me believe in my possibilities. Thanks, Tasha & Joseph!