Bottom line: stay out of debt. Have an initial emergency fund (1K). Do not buy on impulse. Most people who seem to be rich are probably maxed out on CC, etc.

@joegilbody4878

5 ай бұрын

Amen amen amen. The best advice my dad gave to me. I have no debt at 73. I've learned to live without having my wants satisfied immediately.

@dipaknadkarni62

5 ай бұрын

No. Debt eventually drains the mental capacity of its victims. These are the ones who would repulse you if you were a saver.@@YuYu-we2ys

@GoingGreenMom

5 ай бұрын

Maybe, but they definitely had more stress about debt too. ​@@YuYu-we2ys

Present day economy makes living below your means impossible but it is still very feasible. Money is just a tool, use it to create the life you want

@antoniolucas2965

5 ай бұрын

you are right on this one! it's just a tool . it doesn't matter your Income bracket, if you don't use the tool effectively there will be no positive results.

@ritadavou1388

5 ай бұрын

I don't want to come off as one of those people that complain so much about the economy, how does one do that in these present days !? :

@avinashbowers8618

5 ай бұрын

@@ritadavou1388 Tips only work when taken into personal perspective, what works for you may not apply for the next person. 1. Practice "selective spending" I don't think " no spend" works out much. 2. Scale of preferences on goals and even bills. 3. Save, no matter how little the percentage and lastly invest; that's the only way to grow it without putting in the hours. Hope this works for you 😉

@TheMummyBubble

5 ай бұрын

The pressure on household finances is huge right now. For some people the only solution after cutting back as much as they can may be to somehow boost their income, whether through finding a better paying role or adding a side hustle. It's different for everyone, but I think taking control of your finances makes a big difference no matter what your situation.

@avinashbowers8618

5 ай бұрын

Tips only work when taken into personal perspective, what works for you may not apply for the next person. 1. Practice "selective spending" I don't think " no spend" works out much. 2. Scale of preferences on goals and even bills. 3. Save, no matter how little the percentage and lastly invest; that's the only way to grow it without putting in the hours. Hope this works for you !

I live below my means. I’m sitting in my cold, dark house, using my iPad, heating up my leftover instant coffee in a microwave and STILL, my power bill is close $500/month

@manonvorstenbosch3445

6 ай бұрын

How can it be so high?

@bonniegaither3994

6 ай бұрын

@@manonvorstenbosch3445 , price gouging. They know we have no choice for energy companies. They have a monopoly and they know it. They like to blame it on fires, but actually, 2023 was a VERY mild fire season.

@orborn3580

5 ай бұрын

I get it. I used to have an older home…a stone cottage to be exact with 2 ft. thick walls. In the winter, my exterior walls were freezing!! I kept the thermostat on 67 degrees and still had $6-$700 a month electric bills. It depends on the house and how it was constructed originally. There was no way to further insulate my house.

@lynnettemurphy8243

5 ай бұрын

​@@orborn3580How come its so expensive? My house is also stone with 2 foot thick walls and my electric bill works out at about €140 for 2 months. I have a solid fuel cooker that heats my 8 radiators.

@davidbrooks8809

5 ай бұрын

SMH 😂😢

I lik😢 this video. I am one who lives no-spend years. The 1st two years, I couldn't stick to it beyond October. The next year, I started out with a list of things I needed, like a small Dutch oven, a flashlight, etc. I gave myself the flexibility to get the items on the list if I found them at good prices... and I did. I found a small, light weight Dutch oven at Aldi's for only $19. Over the course of the year, I made purchases that added up to about $200. Every purchase was well under the $19 spent on the pot. Another example is that a doctor's appointment was delayed over lunch, so I got a $6 sandwich. That's something I would normally never do, but it was an unplanned event, so I gave myself the flexibility to spend that $6. And then continued on without spending for the rest of the year. I saved boat loads of money... and time. I didn't have to spend time thinking about whether or not to buy this, that or the other, because if it wasn't on my list, I wasn't buying it, so there was no need to ponder it. I live on Social Security Disability Income, which is very low...but I'm very thankful for it. At the beginning of 2023, when there was a large COLA increase (cost of living assessment), my income went up $200 a month. Then, I realized that extra $200 a month knocked me out of qualifying for $600 worth of benefits I was receiving. I started out each month $400 in the hole. By cutting out ALL unnecessary spending, plus keeping all utilities down as low as possible, I was able to come out just a bit into the black each month--not in the red. So, I overcame a $4800 deficit through the year by having my no-spend, with a little flexibility, year. This year I have no list, but by now, I don't want to shop. I don't want to spend on things that look like they'd be useful, but might not be. I'd rather see money in the bank.

@cynthiafisher9907

6 ай бұрын

Wow, thats very commendable!

@maryjothompson4578

5 ай бұрын

Great job!

I am so glad you mentioned the "cash stuffing", I never understood it need for it. I think many people spend so much money buying stickers, envelopes, budget folders, etc (more money wasted), but fail to really or understand that none of that is needed nor will it do you any good if you don't have the right mindset. I watch budget videos to keep me motivated. I paid off my home, and car in full, and now I am working on savings and all I used was my daughter's old school notebook. It's all possible, but you have to be committed to it, not just doing it for show.

@TheMummyBubble

6 ай бұрын

Yes this is exactly it. I think the cash stuffing is fine if it’s working for you but I think anything has to be done realistically for your means and with commitment, otherwise you’ve just spent money on pretty envelopes that aren’t fulfilling the purpose you actually got them for.

@freckles8119

5 ай бұрын

The envelope system worked well for me when my kids were little. But I just used old envelopes that I received from mailings. Wrote what it was for on the outside and spent my lunch hour running around town paying bills. Everything was close to work so I got out of office for a walk.

@obdiane

5 ай бұрын

@@freckles8119 Yep, using old stuff is a great way to save, and avoid buying new. I never felt a need to use the cash stuffing, but I am glad it worked for you.

@maxinef6654

5 ай бұрын

I do cash stuffing and love it. I’ve combined it with minimalist living.

Being content with what you have! Best line ever 🎉 good video

Great video, great advice :) Such an important point, being content with what you already have. It also helps you to stay present in the moment, in gratitude. I am thankful each day that I have a roof over my head, clean hot or cold water when I need it, lights come on when I choose and I have access to healthy ingredients to cook with - this is a blessed life!

@kaiulanisallas9005

5 ай бұрын

This is such a beautiful and poignant comment- thank you

@lisajane4330

5 ай бұрын

💯 Comparing to others leads to misery, very tough for me not to compare but essential so I'm not robbed of happiness.

@tammybrennan2040

5 ай бұрын

As I pay my electric bill I’m also thinking of how grateful I am to have electricity. A lot of people would luv to have that luxury.

@user-kn5ix2rm4y

5 ай бұрын

Right

I have two savings accounts. A short term and a long-term. I pay my long term account first. I treat my savings like a bill. I am obligated to my future self. Then i pay all of my bills, and over the course of my pay period take care of the essentials for household i.e. gas, groceries, small unexpected expenses (less than $50). When i get paid again, i transfer all the leftover money from the premises paycheck into my short term savings. Sometimes its $20 that i transfer, sometimes its $150. Usually it's somewhere in the middle. The sole purpose of it is to fund large unexpected costs. I.e. my car suddenly needs something. We've used it to buy plane tickets in the past, and to pay off a small credit card balance.

Budgeting challenges are good for evaluating what things you really need and should not be done for long periods of time.

@TheMummyBubble

6 ай бұрын

If they work for you and help meet savings goals then that’s brilliant.

@tanjalentzy1337

6 ай бұрын

Come up with something new.

@ashleymcgee3536

5 ай бұрын

What, pray tell, should people be doing? People don't achieve stability by budgeting sometimes and and not budgeting any other time.

With videos that say ‘3 ways to xxx’ or ‘5 ways to xxx’ I really appreciate when the video maker gets straight to the point and describes those 3 or 5 ways. I felt there was quite a long intro to this video and I think shorter, snappier is better especially when the title is very action oriented. Hope you don’t mind this feedback

@mochipii

5 ай бұрын

People always love to talk about themselves like they were being interviewed

@hollyb6885

5 ай бұрын

I really appreciate posts where the poster lists the things it takes 9 minutes for the KZreadr to drone on about. This video should have lasted no more than 2 minutes.

I have started eating one meal a day. It’s saving me a fortune. Highly recommend.

We ate well 2 meal day breakfast n supper.n if we got hungry .al Ke peanut butter sandwich. We never once ate at a restaurant n always packed food when away for the day. N never stayed at a motel

Great informative video! Living below your means is so important for building wealth

I'm curious: What jobs you do from home? I need a side hustle to help pay debt down.

I love your videos 🎉❤

Hello. Great advice.

Good advice

I think that so many people don’t have financial goals and just live reactionary day to day.

@chinchillin6280

5 ай бұрын

GEN Z is big on this

Great Content

Needed this video in my life

@TheMummyBubble

6 ай бұрын

Thank you!

Ive just started my "no spend" month for February. Canceled my subscriptions. Eating leftovers, etc.

@zerokool-2058

5 ай бұрын

Aye let’s go!!! #Savings4Tomorrow

NUMBER ONE WAY. Don't buy brand new cars, especially trucks and SUVs, STAY AWAY from them!

It hasn't helped our lives. It feels like someone is always trying to sell us something, usually something we don't need. I live within my means by no longer shopping in search of contentment. I treasure my small apartment, my 7 year old car, my friends, and my boyfriend. I do subscribe to 2 streaming services a month, either Britbox or Acorn, and PBS.

My biggest expenses are skin care, hair care, perfume products...In the past, when I tried to cut down on them, I ended up with horrible skin problems, bad hair and being smelly, so ended up with no confidence...So, these are the products I really can't do without...So, I'll just have to earn a bigger income, in order to pay for them...:O

@TheMummyBubble

5 ай бұрын

I think we all have different priorities, and that's totally OK. One person's frugal lifestyle won't fit another person's. 👌

Best way to save is to have a bank account linked to your saving account so you can transfer as soon as you have worked out your budget ,

I carry cash and that way is hard for me to let it go out of my hands to buy something lol, that’s not needed! So I look at the item and say is this actually worth it or can I find it cheaper.

Cash stuffing actually works for our family and enjoy doing it too lol

@TheMummyBubble

5 ай бұрын

I think it works really well for some people, which is great. However I see people who go through the motions of cash stuffing but still use the debit and credit card to buy beyond their cash budget. That's the circumstance where it stops working and becomes performative.

@chinchillin6280

5 ай бұрын

Completely hear you! Well kudos that we’re both being aware of finance basics, right?

How about the high cost of healthcare? How do you save for unexpected sicknesses? Or do you live where there is government healthcare? I’m not for government healthcare. We need to get back to the doctor patient relationship. But, corporate healthcare has driven up the costs.

@leahmcdermott4189

5 ай бұрын

We are from the UK, so we don’t pay for healthcare. We have a national health service, paid through via high taxes x

i went backto zero euro; am rebuilding now

@TheMummyBubble

6 ай бұрын

We all start somewhere and the only way is up! Best of luck!

This year for fixed expenses I am deciding if I should stop Netflix and Brit box because I haven’t really watched anything in 2022 and 2023. I am also shopping for better Wi-Fi rate and cell phone plan. I decide to keep Amazon Prime because I buy grocery at Amazon Fresh (in person) and get supplements and pantry staples on line. 2924 definitely put a stop to shopping. Prior 6 years of indulgence left me with 2 rooms at home filled with wardrobe items and art/craft supplies. I can pretty much never have to buy anything new for the next 20+ years. The motivation? I want to build my cash reserve back up. I only have one year’s living in the bank at the moment due to cash buy my retirement home and remodeling it in 2021/2022. I have new roof, teeth implants, water heater, 2 new sheds, AC/heater replacement, car repair or replacement, and overseas travel in the next 3 to 5 years. Without adequate reserve, I’d feel financial pressure. It is not a good feeling to have.

@deadandburied7626

5 ай бұрын

I stopped having Broadband and cut down on internet use. Mobile and landline down too.

every time I save a bunch of money I start thinking about what if I die tomorrow then I run out and start spending it.

Less is more ❤ content

Just a tip to add - if you contact your pension provider, they can also give you projections to a date of your choosing.

@TheMummyBubble

4 ай бұрын

The good ones are very helpful!

I have adhd. I always make plans but almost never stick to it 😟

@lynnettemurphy8243

5 ай бұрын

Dont make too many plans, it can be overwhelming. With the same end goal in mind, just regularly change the way you go about getting there. Baby steps and a longer route can still get you to your destination. Nothing wrong with going a different route, or having a different map. As long as we're on the right road there's nothing wrong with the odd detour.

@emmatessier600

5 ай бұрын

I have some attention disorder as well, and I don't really plan a budget but 2 or 3 times a month I track every expense in a spreadsheet and even break them down in categories to know why I spent what I spent. It's enough to make me aware of what I've been doing lately and where it goes over the reasonable limit for categories like "household items" or "drinks" or "snacks on the go" that sort of thing. Awareness is a great start!

Our gas is $3.09 for cheap gas. My in laws gas is $2.67 just 2 hours away. Im sick of getting screwed by greedy companies!!

Keep away from shopping centres so that you do not get tempted to buy food or coffee or clothes.

@TheMummyBubble

5 ай бұрын

Great tip!

i chose not to have kids, so i don't have to pinch pennies. i grew up in a home where money was always tight, and i'm NOT living that way as an adult.

I made a comment on another comment but I don't know where it went, if your electric bill is like outrageous and it's never been that way...... Investigate. In a town I used to work at, the head honcho of the electric department was sleeping with certain clients so they didn't have to pay their bills.... But they had to make money somehow so they padded the bills on to other customers. And I'm talking outrageous amounts. This is scandalous and robbery, but it happens.

I live so below my means i wear clothes with holes in them. I don’t even eat everyday ! Now I have to pay for water. So may have to sell the car.

Save ...and when the wolves come calling at your door, they just turn up being poodles.

These aren't original ideas.

Who gives too shits what other bloody people are doing!!!!

@user-sg8pp3bq6k

5 ай бұрын

two*

Sorry luv but it’s not possible to live below means with a growing family with the cost of housing and basic bills. It’s an incredible privilege to live below your means and the only way is to earn substantially more and few have opportunity to do that.

@villamathilda6984

6 ай бұрын

I dont agree at all. Small chances works! Frugal living is key!

@Smooshes786

6 ай бұрын

Are you telling us that you don’t have anywhere to reduce costs verses income in your current situation? That the income has nothing you can change? I agree that sustainability like food growing or barter are very helpful!

@lluke18

5 ай бұрын

Not true for example me and my partner have had are first kid and he’s 4 months but buying his winter clothes for next year in the sales got loads of clothes for £2 each from Morrisons and Asda gonna save them we even shop second hand and asked family this Christmas for clothes next winter so he’s all set and we get them next year for the year after

@lluke18

5 ай бұрын

And we’ve both decided to cut are £40 contracts each down to £8 each for minimum a year so that’s like a £750 saving keeping are old phones we then are using some of that money for a kids savings investments £10 a week minimum and his Christmas birthday money goes In and if we have skip takeaways we add £5 in for him :)

@ashleymcgee3536

5 ай бұрын

I don’t think she’s talking about this. She’s helping identify any anxious compulsion to spend when you know you shouldn’t. Your issue is not that you’re not living frugally. Living frugally is only going to go so far. Eventually more money is necessary. That’s the part that more and more people are having trouble with.

We all know this. It is called common sense. This video is just so Vicky can make some money. Shame on you Vicky. Shame

@gangstaberry2496

5 ай бұрын

😂

@me4011

5 ай бұрын

All your comments you ever post are ridiculous complaints, shame on YOU

@caseyhill636

5 ай бұрын

Jeeze pretty hostile comments section 😂 it’s just KZread -chill out!