Looking at your savings rate, and how to increase it over time, is one way you can work towards saving more money! What are you doing to increase your savings rate?👀

@bashiiraasad9330

Жыл бұрын

Make my coffee and lunch from home. Hold back on impulsive purchases.

@ornela2

Жыл бұрын

Staying home and being okay with not having as much of a social life lol

@kelseyh7918

Жыл бұрын

adopting more of a minimalist mindset :)

Best way to save is to treat saving like a bill. Number one help. Also I can live off 2000 so I save what ever is left(900-1100) and still try to save out of that 2000. I also try to lower what bills I have. I like to keep my bill amount to rent, utilities , phone. I have decided to pay car insurance in full not monthly and it feels more better. Car will be payed off next month I couldn't deal with the monthly payments people said its 'good' to have car payment but I find it don't work for me had a car official for one year and was done with the payments. I dislike paying interest especially on something that depreciates. After paying off car looking to restart my savings goal toward home ownership. Before 30 hopefully. Note too my credit score dropped 2 points making a lump sump payment to car but it wont stop me. Still would be in the 800.

@stephandden

Жыл бұрын

That’s a great way to put it! 👏🏿👏🏻 and thanks for sharing + congrats on the car!

The one thing that helped me , my job subtracts my savings before it hits my bank account! I have started with 30% this year … and as my salary increases , I will increase the percentage. I just started with my new job… and they match whatever percentage I put in. Fingers crossed , I will be able to save more than 20 grand this year!!!

@CryptoCapitalVenture759

Жыл бұрын

⬆️⤴️Thanks for the review⤴️Do well to reach out to JIM my trusted investment broker, he will bring you to a cost effective strategy. i recommend him☝️☝️💯💯💯💯

This is awesome. It’s difficult because I have kids now. My advice for anyone who doesn’t have kids is to do it before having kids. Once they get here is can get twice as hard but it is doable. I’m doing it now and don’t plan on giving up. Thank you Steph. ❤

@stephandden

Жыл бұрын

Thank you! + You’ve got this 🙏🏿🙏🏻

I took my daughter school clothes shopping recently and I realized how much more effort you have to put into buying things in person vs shopping online. Yes you save time doing your shopping online but it’s easy to overspend because online shopping takes little to no effort. When you shop in person you get a little bit of exercise and with all of the work put into it you are a little more careful with what you spend your money on.

I wish I could be able to save that much. As a matter of fact, I am going to try to save that much. Like Den said, I don't want to work forever. Thank you guys for the video.

@stephandden

Жыл бұрын

You've got it 👏🏿👏🏻 thanks for watching!

Thank you

I did 50% savings rate for a few months and I loved how fast the numbers grew :D!

@stephandden

Жыл бұрын

That's awesome! It's fun to see the numbers grow 🙌🏿🙌🏻

Great video! Best part; you get to save you don't have to save!

@stephandden

Жыл бұрын

Thank you! We love that line 👏🏿👏🏻

I am saving 63% of my net income this year. However, that is mainly because I started working from home during the pandemic and I moved from the big city to my home town, where I don't pay rent as I live at home. I also don't have a car. If I had these two costs, I would be saving much less, probably 30%. What I also made sure to do to achieve 63% was to automate my savings and investments as well as make sure my expenses remained relatively the same even when I got salary increases. Of the 63% I saved, 20% of it is in investments and in 2023, I'd like to invest half of what I am able to save. This year I paid off my credit card as well as some medical debt and I am only left with my student loan debt which I plan to pay off by 2024. Thanks for the video Steph and Dan 👍🏽

@stephandden

Жыл бұрын

That's amazing! Love to hear that you're hitting your money goals one by one 👏🏿👏🏻 you're doing great!

Love your video u doing a great job on saving your money I remember when I was saving like $25 a week to $50 a week and now I’m making over $49,000 a year I’m able to save every paycheck I make sure to keep my expenses low and I live below my means and not try to live like the joneses I’m so close to hitting 100K but the end of this year I motivate myself everyday to keep saving every paycheck every two weeks and I’m very proud

@stephandden

Жыл бұрын

You're doing great, that's awesome! 😊

@mamba137

Жыл бұрын

@@stephandden Thanks I’m trying my best 😎👍🏿

After calculating our necessities, my wife and I put a how long do I have to work to pay for this on our wants. It has really made us think before making any purchase that we don't think is worth working extra for. And we also put the cost of the item at a 12-year investment rate which is 4x the cost of any item. So essentially, even the $5 coffee, we look at it as $20. And the $100 meal out is $400. Really makes sure we know exactly where every penny is going and keeps our saving rate as high as possible.

@stephandden

Жыл бұрын

That's a great tip - you're really thinking through if an expense is worth it for you, not just now but in the future. Love it! Thanks for sharing 🙌🏿🙌🏻

Great video! I have been planning my shopping list a lot more now too for budgeting for clothes. Thinking instead about what is missing from my closet, what I've recently donated and basics.

@stephandden

Жыл бұрын

Thanks, Danielle! And that’s great 👏🏿👏🏻

Great video. I believe it gets easier when you make more money. I have standing orders which leave my account every month plus ISA. This way it’s automatic without me thinking about it.

@stephandden

Жыл бұрын

Thanks, Catarina! Agreed 👏🏿👏🏻

Thank you!

@stephandden

Жыл бұрын

Thanks for watching! 😊

Thankyou

@CryptoCapitalVenture759

Жыл бұрын

⬆️⤴️Thanks for the review⤴️Do well to reach out to JIM my trusted investment broker, he will bring you to a cost effective strategy. i recommend him☝️☝️💯💯💯💯

I’m on my 3rd year of obtaining fire. The first year was when Covid hit I saved 80%. Now I find myself happy at 50%. What keeps you guys motivated? I feel a little burnt out sometimes

@stephandden

Жыл бұрын

That's great! Love that you've been flexible with your savings rate, too. Good question re: motivation, it's one of those things where you have to remember your bigger picture goal (which can be hard or easy depending on the day). We find this KZread channel helps us with accountability and motivation a lot of the time 😊

You guys are awesome! I would love to meet and talk about business opportunities with both of you. Excellent 👍. Keep making and saving those Robert's (Robert Borden).

@stephandden

Жыл бұрын

HA, love that 😂 thanks, Alex!

The editing is so crisp.

@stephandden

Жыл бұрын

🙏🏿🙏🏻 the best comment!

You have to have a good job ,not too much debt or expenses and not be a single parent for this to be realistic

@stephandden

Жыл бұрын

To have a really high savings rate, yes it's definitely easier with you have less expenses and a strong income. However, bringing it up in small increments over time is still great! 😊

@Leclaudservices

Жыл бұрын

@@stephandden yes i definitely agree with that .looking for cheaper auto & insurance rate,etc as well because those be the highest .then phone bills,groceries too.so you’re not wrong at all

hard to do that when rent is more then 50% of most people's income

Will you ever talk about how you guys met or is that too personal and you are more focused on having only your finance journey on youtube?

@stephandden

Жыл бұрын

We’ve talked about that before on the channel! Maybe in older videos 😊

I think I save a healthy amount, but damn those Uber Eats purchases! I indulge a bit too often, lol

@stephandden

Жыл бұрын

Ha, it's always the UberEats! Convenience pros and cons 🤧

🖒

Great intro!

@stephandden

Жыл бұрын

Thank you! 🙏🏿🙏🏻

Lol why does the thumbnail not match the energy of the tittle

@stephandden

Жыл бұрын

Ha, the thumbnail is bringing the drama and the title is bringing the energy 😊

@Twestliw

Жыл бұрын

@@stephandden lol

lol so basically you were able to save more as you made more money?

@stephandden

Жыл бұрын

You don’t save more just from making more - it’s all about how much you keep. The key is your savings rate, which involves making more and not spending more

1)have no kids

Great channel guys. But I’m gonna ask the big question: when are we getting married and having kids?

I wish! In order for me to save 60% I would need to make at least $10k a month (net) 🫤

@stephandden

Жыл бұрын

It's a good first step to know what your income would have to be - it means you've gone through all of your expenses! Hopefully you're able to bring it up a little bit at a time 😊