My husband and I started seriously tithing 10% without exception every paycheck. Prior to that, I was so fearful and it seemed we never had enough. Our finances were a mess, credit card debt, etc. As soon as we made the decision to put God first, our finances turned around. I truly believe the Lord blesses obedience. And it feels good to think of others first. It makes you more grateful for what you have. We still have medical debt we are paying down, but now we have total peace and our budget works out.

@larryware1

2 жыл бұрын

Exactly how it works, Peg. God will bless you in so many unexpected ways, and the 90% left over will go SO much further.

@RetiredLovingIt

2 жыл бұрын

Yes! You can live better on 90% than 100% of your income when you step out in faith to tithe.

@diahill1945

2 жыл бұрын

Tithing = giving your money to a large corporation who are already rich ! If you are only earning the minimum wage in 50 years you will have given away $90,000 and yes they will be buying more buildings with it . God doesn’t need your money stop . If you really want to help the poor give it to them on the street . At least you know they will get it .

@Peg38542

2 жыл бұрын

@@larryware1 I totally agree :)

@Peg38542

2 жыл бұрын

@@diahill1945 I research the organizations that I give to and I also give to people in every day life. I like to give decent tips to waitresses, waiters, bus staff and friends and family who are struggling too. I'm sorry you have such a bad perspective on tithing.

I started using zero based budgeting about a year ago - giving every dollar a job has changed my finances - I never stress about having enough for needs and I don’t feel guilty when I use money for wants because it’s in the budget! If there is zero $$ left in a category then I don’t spend - for first time in my adult life I have zero credit card debt and no longer use credit for anything! It is so freeing to have learnt how to live within my means -

@larryware1

2 жыл бұрын

Excellent excursive of discipline, Amanda. It pays off, literally.

@RetiredLovingIt

2 жыл бұрын

Exactly! Every dollar has a place to go! 🙌

@pilarperry6766

2 жыл бұрын

I still don't understand what it means to pay *yourself* first!!!!??

@RetiredLovingIt

2 жыл бұрын

@@pilarperry6766when you get paid….before paying anything else….take a portion out and put it back in savings…this is how you pay yourself first

@pilarperry6766

2 жыл бұрын

@@RetiredLovingIt --- THANK YOU!!😃

When first married we lived on 1 paycheck (after taxes and 401k deduction) and saved 100% of the lesser paycheck and/or paid debt (again after taxes and 401k deduction). Any “extra” money (bonus, gifts, second job) was for “extra” one time purchases (cash for a car, vacation, etc). We did this so we didn’t get accustomed to spending 2 incomes. When we had children we could decide if one of us should stay home with the kids. We continued saving 50% and retired in our 50s, our kids graduated college debt free and we are debt free/mortgage free (and have been for over 20 years) we lived way, way, way below our means and still do.

My late husband felt the best plan was to never go in debt in the first place and always pay cash and live below your means.

@Peg38542

2 жыл бұрын

I'm so sorry for you loss Barbara. Your husband gave really good advice. Simple, but very wise.

@larryware1

2 жыл бұрын

What Peg said...

@RetiredLovingIt

2 жыл бұрын

Great plan! 👍

I paid off my car last Wednesday. So happy. Thanks for all of your videos that has helped greatly.

@RetiredLovingIt

2 жыл бұрын

Congratulations 🎉 that’s a big step!

@2JobsStillPoorUSA

2 жыл бұрын

Congrats now put that payment into a fund for a new car or emergency repairs.

@traceybuchman2645

2 жыл бұрын

That's such a great feeling

I did follow Sen. Warren’ plan for four years but it wasn’t easy and I cut out most ‘fun stuff’, movies, restaurants, and most vacation costs (staycation) and made my lunch every day for work ($$$$). I could have saved even more if I’d cut cable because it is useless. I managed to pay off debts and save a lot so it works for a short time

The problem with a lot of the most popular plans is that you don’t start saving for retirement until all your debts are gone and for many of us that wastes many years of compound interest. Also living in the US and being lucky enough to have health insurance we still have a hefty family deductible for the 2 of us. It’s way more than the basic $2000 savings when you also include copays on meds, doctors visits and let’s not even get started on Dental!

Let me add I’m 74, retired, my income is $1070 and rent is 521. It’s an interesting budget.

@RetiredLovingIt

2 жыл бұрын

It seems that young people today have no idea how to cut back or do without. Great job!

DR’s snowball. It is not just a math problem, it is a behavior problem. The snowball method changed my behavior.

@UndertheMedian

2 жыл бұрын

You are absolutely right! Dave is all about "change your behavior. Change your destiny." And he's right.

I do Elizabeth's plan. I don't do Tithing, I still give 10 to 15% to help homeless people in my area. I don't eat out much since I have serious food allergies. Everything evens out very nicely.

1) I use zero-based budgeting for each month 2) I reconcile flexible expenses daily with what has been spent from different categories on a sheet of paper that I follow monthly. This just takes the some envelope system to a piece of paper. 3) Weekly I reconcile my account on a spreadsheet, noting expenditures in columns/categories, By tracking these monthly on a chart, I have a sense of how my money flows throughout the year and if I am “on budget” annually.

I was laughing because when we were first married, pay was always cash in an envelope, there were no credit cards, no spread sheets, but we still managed to manage. I don't think we ever heard the word budget mentioned. I am with Larry, I don't like to carry cash or have much cash in the house. Your golden oldie listener.

Thank you for your honesty and suggestions. I have gone from bankruptcy to financial security without actually following a budget by the grace of God. Now that I am retired, I am trying harder to follow a budget.

@UndertheMedian

2 жыл бұрын

I've noticed as Larry gets really close to retirement: our needs are definitely changing, but so are our priorities. We talk more about trips that we'd like to take and less about buying a new couch. Also, we are getting less emotionally connected to things in our home. We don't want to leave the kids a bunch of stuff to clean out one day. It's really interesting to me to realize that raising the kids went so fast and now we are entering a brand new phase in life.

@monicaambs

2 жыл бұрын

@@UndertheMedian My son is 43 and says the time goes slow. I’m 67 and told him no, it flys passed. Bible says “your life is a puff of wind”. That nothing according to time.

@RetiredLovingIt

2 жыл бұрын

Nice job!

I have not saved for my kids college either. I have been told by many people to worry about our retirement first. Plus, it seems impossible to save for the price of college as must as much as a 4 year university costs, especially since I was a SAHM for the first 11 year of motherhood. Listening to you stating you do not save for college funds gives me much relief.

@UndertheMedian

2 жыл бұрын

Our oldest has a 4 year degree and no college debt. He went to a local 2-year college (which was pretty easy to pay cash for) and then got a very high value scholarship offer to transfer to a private, Christian university to finish his degree. So, it's possible. Our best advice is to use the 2-year community college option for the first 2 years, while the student is working and living at home to save money to finish at a 4-year university.

I did the snowball method when I paid off our debt 20 or so years ago. I didn’t know it was a “thing” until a couple of years ago. Honestly, it makes perfect sense!

My problem with Dave Ramsey is that he can be very insulting and rude to people who disagree with him or make mistakes. You two are very kind and encouraging and I am way more likely to listen to the 2 of you than that blow hard!

@1992DJP

2 жыл бұрын

I agree Dave Ramsey started out OK. But like a lot of people celebrity goes to their heads. I don’t think you need to call people idiots or dummies and what not ….that doesn’t solve anything.

@ramonalopez7516

2 жыл бұрын

I agree! Hate his political nonsense and how he uses bible references and then turns around and insults callers, but I’ve been able to separate his personality from his advice.

@cowgirljones35

2 жыл бұрын

I love Dave Ramsey, have read his books and listen to his Sunday Radio Show, he is a good hearted man who knows from the bottom up how to get out of Debt if you have it, how to have a Emergency fund how to get there and alot of good . Stay Strong, don't let Dave get under your skin, he's a excellent teacher & Christian.

@Jane5720

2 жыл бұрын

Mark Superman , Maybe because you’re Superman? I don’t know why you feel insulted with that if you can either take his advice or walk away with whatever you don’t want to use, I actually like him he tries to sort out the really really stupid people which I can relate to his style

@Chris-tg3qy

2 жыл бұрын

@@Jane5720 I think what he is saying is you can help people who make mistakes (even stupid mistakes) without calling them names. Just like this lovely couple is doing. Dave can answer questions without categorizing/sorting people out and embarrassing them.

For some of us the plan is more 90 5 5 after rent and utilities when your in a single income household taking care of everyone. There's nothing left for vacations or anything else to make a budget work.

We're basically living on the child tax credit and the grace of my in-laws right now. Budgeting has been hard because we've been in crisis for so long, but we made and stuck to a budget this month. We still couldn't do much, but we know where every dollar went and that helped relieve the stress of wondering where those few dollars disappeared to.

@UndertheMedian

2 жыл бұрын

I love that planning where each dollar would go helped relieve that stress. Good job for planning the budget and sticking to it.

I love donating but used to struggle to find the cash to do it very often. Now I donate monthly because I budget for it. Donating enriches my life and grateful to be in a position to be able to do it.

We used the Avalanche plan instead of the snowball because we wanted to rid our debt and getter done! Stepping Stone yes $1000 but not to stay there. $5000.00 then build up is how we did.

We used the envelope system when we were first married when we didn’t have much money. We didn’t use credit cards and it worked quite well. We don’t use it anymore more but it laid a foundation for the idea of budgeting. I agree that you must include charitable contributions. It is important to share our blessings because the return on it is so much more.

@charlottewalker6490

2 жыл бұрын

AMEN.

We took & taught the Dave Ramsey plan and it helped us greatly. He has taught the $1000 for at least 30 years. Tho $1000 won't do much in today's world for some that amount sounds almost impossible, especially if you live pay check to pay check. I think its all amount of prospect & where the individual is. The key is to start..and be consistent!

Dear Hope and Larry, My income is under the national median and I live of 40% of my monthly income and the remaining 60% are used for emergencies, my yearly Roth IRA contribution, and buying index funds. It can be done. However, my kids are out of the house and I don't have any mortgage or car payments. It is crucial to pay off your house early and to buy only used cars in cash if you want to live of 40% -50% of your monthly income. It is also important to have a 12 months emergency fund just in case.

@RetiredLovingIt

2 жыл бұрын

We’ll done!

@RetiredLovingIt

2 жыл бұрын

*well hate autocorrect

@V.Hansen.

2 жыл бұрын

Good job getting a paid for house. Many of us who got smart later in life are years and years away from that.

@RetiredLovingIt

2 жыл бұрын

@@V.Hansen. you’ll get there! Just stay focused 👍

@lynnettemurphy8243

2 жыл бұрын

Suzanne. That doesn't work everywhere. In Ireland paying off your mortgage early is a bad idea. There's a penalty for oaying

As a young woman, my goal in life is to grow up to be like Hope! Love the robot in the background! My dad has the same one and I remember him very hesitantly letting me playing with it very carefully as a child

I agreed I believe in giving to God first. We were able to retire at 55 and thank God we have everything we need

I used the snowball method because what a victory I experienced when I paid off my first debt! And it got better and better and I felt empowered..,

I always thought 50% was fixed (rent, bills, taxes), 30% were changeable (food, clothing, gifts, wants, and giving), and 20% for savings of gross income. The best thing about that method is that you know whether your rent/mortgage or car payment is out of whack with your actual income. The next best thing is you know where to cut to balance that vacation weekend (with a cut to the grocery bill or eating out or whatever). The last thing is that you prioritize savings. At the lower income end it might look like 70-25-5.

I began my working life in the Navy, where you can advance in rank ( and pay) in a fairly regular basis. My Captain gave me one of the best Life Lessons when he said that I should continue to live on what I already earn, and put the amount from the raise in savings. Thus, I've lived below my means my entire life. I applied the same principle in civilian life, with a focus on retirement. Wish I had started earlier on that, but I don't think Roth IRAs and 401ks were around back then, and I'm still way ahead of most of my peers.

@rg-mi5hh

5 ай бұрын

Dave Ramsey has helped so many people. The envelope system has been a huge help to us. You have to use what works for you. When filling envelopes, we try to put a larger chunk in highest and lowest each month ahead for sinking funds.

I sort of followed the baby steps without knowing it. But I saved and invested before I had all debt paid off and glad I did otherwise I would have even less in my retirement account.

So my husband and I used the Dave Ramsey/money envelopes method back in 2008 and managed to get out of debt and eventually got a bigger home in a better neighborhood. Today, we live in a small apartment waiting to buy our next home with a huge down payment. I use 2 cards only bc I don’t like carrying a lot of cash. We still occasionally use the money envelopes when things are getting out of control in grocery/gas areas.

E. Warren is out of touch with the average American. I do like Dave Ramsey and he is the one who got me serious about getting out of debt. I do tweak his plan a little; For example: I had a small debt that had not accrued interest yet, so I paid it first before Interest would begin on it. I did not stop at $1,000 and chose to continue saving my emergency fund as I pay debt (Personal choice and what makes me feel more comfortable).

@larryware1

2 жыл бұрын

Agreed on SO many levels.

@RetiredLovingIt

2 жыл бұрын

E Warren definitely out of touch with the average American!

@cowgirljones35

2 жыл бұрын

I'm with you totally 🤩

I've been a Dave Ramsey fan about 15 years now. Envelopes all the way!

You are correct---work a plan and adjust as you go when events occur. Just having a goal and working it until it doesn't fit your life style then ADJUST again. A budget is a guide so you have some parameters from which to work. Thanks for sharing!!!

@RetiredLovingIt

2 жыл бұрын

True! A budget has to be fluid! Nothing is cut in stone

I was wondering if you tithed... Youre amazing. Incidentally, im using far less laundry soap thanks to you. I love your show. It makes me happy.

@pilarperry6766

2 жыл бұрын

And makes ya 💡 THINK!!!!

@SherryEllesson

2 жыл бұрын

Hope said very clearly that they do.

@larryware1

2 жыл бұрын

Absolutely, Jules. Thank you. I'm very OCD about tithing. I consider it a bill to be paid right off the top. Then everything else follows nicely. Don't want to be robbing God and expect him to bless our finances.

@RetiredLovingIt

2 жыл бұрын

We have always tithed! Give to God first and He will always meet our needs! We have never gone without! We live better on 90% than 100% of our income!

@UndertheMedian

2 жыл бұрын

Jules, I gotta say that the first time I researched the amount of laundry detergent that I should be using I nearly fell off my chair. For decades I had used exactly how much the manufacturer told me to. Crazy!

For us the Dave Ramsey for the win! Baby steps not envelopes!

I used an envelope system early on in my career. It has helped efficiently and effectively management my budget!

Thank you for speaking of tithing and charitable contributions

50 percent? No way. When I first started budgeting I did a combo of techniques. I had a budget and weekly envelopes. I also did an ascending savings plan. Save $1 in week 1? $2 in week 2 etc. I did Dave’s zero based budgeting and this is now what I use. I don’t agree with his steps. I had some debt but as a single woman I put aside six months living expenses first while investing in retirement. I have sinking funds for everything. And I agree $1k isn’t enough for emergencies. Pay off highest interest rate debt if you have discipline. It’s all about building habits. As you build habits you can get more sophisticated at it.

Good mortHope and Larry! I have a sick little Shih Tzu who has a vet appointment soon. However, I listened in and totally agree- if it works for you it’s the perfect plan. Good video and wonderful way to start a Monday! 😃Have a beautiful day 👋🏻

@larryware1

2 жыл бұрын

Super, Rose O. So glad to have you with us even if your K9 is under the weather.

Love the lamp

I knew you were going to say the best plan is the one you will use. So true.

Larry & Hope…thank you for this informative video! As usual I learn something from all your wisdom. Thank you 🤗

I like the 50 30 20 plan

I do the budget spreadsheet as well as well every month and I'm a bit of a spreadsheet nerd. Dad so I have a spreadsheet for each month a spreadsheet for the yearly totals totals and there all in tabs on a worksheet on a worksheet for the year. And then I update my budget with the balances every week to keep me on track

A few years ago I decided to get out of debt. Instead of paying cards off gradually I would completely pay off one and then another. I don't know what kind of red flags this sent off but each time I completely paid off a card the company cancelled that card. I was told I didn't meet their standards. Well this sent me into a spiral of debt making me rely heavily on the cards I had left since I hadn't kept back any savings.

50% of my household’s take home pay would not be nearly enough for our family’s needs which consists of two adults. We make well above the national median, but also live in a major city. Although not super expensive like NYC or the like, Philadelphia still isn’t cheap. All of that aside, we would need to live in a very inexpensive rural area to MAYBE be able to make this work. We might have been able to make Elizabeth Warren’s system work when both of us were working full time, but our take home pay put us well into the middle class and edging toward the upper middle class income bracket with no children or other dependents to support. Few would be able to make these categories and their corresponding percentages work.

I agree carrying that much cash is scary. But you don't have to carry it all. Just take what you need for that day

@larryware1

2 жыл бұрын

Right.

Loved the video today! You two are such a positive force in the financial world. Your setting with the lamp today was very calming and Hope, I loved your blouse, so pretty! Larry, your shirt was a fabulous red! I had to include you, too.🤣

talk about played out. baby step 2 took 3.5 years for us and paid off over 100k. but we love us some dave ramsey. and we are still using the envelope system nice and simple and it works.

@V.Hansen.

2 жыл бұрын

Wow. Way to go. That’s not a small feat.

Titheing is in my needs part of my budget right along with utilities, mortgage, ECT.

For people that are very " visual" the envelope system probably works very well. We have used this system when we went a vacation. It helped keep spending on frivolous things to a minimum.

Thanks for a very good video on this issue and dor a balanced and sensible summary.

50 30 20 doesn't work when you are a fixed and/or low income. Great for rich people. The envelope system works for me unfortunately when your partner is a bit of a money waster so when it came to paying utilities there wouldn't be money left to pay the bills.

@UndertheMedian

2 жыл бұрын

I did the math and that's the conclusion I came to, as well. If you live in an area with really high rent or home prices the 50 30 20 plan would be very challenging in that circumstance, too.

Pretty sure I did a snowvalanche when I paid off debt. It felt overwhelming to look at the number of Bill's, once I listed them out. I had to clear the deck a little for mental clarity. Once i narrowed it down to a few, I focused on the interest rates of the outstanding bills.

I am sticking with my combination plan. It is working!

The 50/30/20 thing didn't work with my income. I only have 1 income and I'm one person so my monthly major bills are more then 50% of my take home pay. Thanks for your information.

Hi from the UK, I love your channel as its helped me get on top of my money so much! Learning how to budget properly has changed my life. However, it always blows my mind that you say putting $1000 (roughly £750) is pretty easy to do because I'm definitely a long way off hitting that target, let alone having other savings too. I'm not in a badly paid job but a huge proportion of my net monthly income goes on basic essential bills so it must be almost impossible for anyone on minimum wage. I just wanted to share that even when carefully budgeting every single penny, for some of us its a long hard slog to get even a small amount of savings behind us. Plus, the longer it takes, the higher the likelihood is of needing to dip in to spend those savings on emergencies... I would love it if you could perhaps do a video on how you would approach saving on an extremely low income. Thanks x

@UndertheMedian

2 жыл бұрын

Thanks, Lou, for bringing that to our attention. We would certainly never want to appear insensitive to those who make very low incomes.

@Julie-si3hi

2 жыл бұрын

I hear you! I'm in the uk too and it's a struggle to put anything aside! I don't have any debt and still struggle.

@MSchipper

2 жыл бұрын

I think that's exactly why Dave Ramsey created his method the way he did. Once you can hit that 1000 (insert currency) goal, you'll understand that you are able to pay off debt as well. And starting with the smallest debt first, will give you that feeling of winning faster. That's to keep you motivated. Saving on a low income is not entirely unattainable. Just remember that every pound is a pound. So if all you can save is a pound a month, it's still a pound. Anything you didn't spend (but budgeted for in another category), goes to your savings. You are only allowed to touch your savings if the only other option is getting deeper into debt. And even then, you used your savings exactly what they where meant for. What Rainbow Budgets' videos. I think she's in a similar situation and lives in the UK. But she does manage to pay off her debt and save some here and there. She shows exactly how she does it. Good luck!

@lyndacordova6212

7 ай бұрын

It is a lot for people with a low wage but have to pay the bills and feed, clothe and house a family.

Every dollar has a name. My income varies month to month, so it's a struggle at times. Your plan seems to be working though. Thank you.

My budget consists of when I run out of money I stop spending. It’s much easier..I get paid in four days. I have two dollars on my person and twenty dollars in the bank. I have food. It might not be my favorite foods but it will get me through the month. This sounds kind of tongue and cheek but it works for me.

@sharonfleshman6961

2 жыл бұрын

Do you have savings? That is the problem with your plan.

I do a 3,000 efund because our cars are older. Almost done with debt, but I also put something,anything, into the e fund every check while I'm on baby step 2. Even $20. That is my tweek to the plan.

I like the spreadsheet budget system best

Yes. I agree with you. In my part of the city. I can carry about $20 but if I carry more it’s not safe at all. Not only do I feel uncomfortable carry more than that amount but it’s just not safe. There’s a lot of homelessness and crime. I live in Los Angeles, CA. I think that will explain the crime enough. Wish it were different.

@larryware1

2 жыл бұрын

You are very wise not to carry cash where you live. I wish our world was different as well...

@robinmeier6048

2 жыл бұрын

Move

I think most people spend about 90% on their actual needs.

@brianpulliam1100

2 жыл бұрын

My mortgage payment alone is 42%. Impossible to reach 50% for all expenses without paying off the house or selling

@brianpulliam1100

2 жыл бұрын

I use an Excel spreadsheet to virtually separate money into Budget categories. I call them "virtual envelopes"

@mamaknows1062

2 жыл бұрын

@@brianpulliam1100 can you refinance to today's lower Interest rates? May help some.

@V.Hansen.

2 жыл бұрын

But people are terrible at separating needs from wants. You need food but you don’t need to eat out every day or week. You need clothes, but most of us have closets full that we never wear. I personally hate cooking, but cooking a crockpot full even once or twice a month and eating it for several days has cut my food budget almost in half. And I almost never went out before, just got things like precut veggies and other easy but healthy stuff. Almost everyone can cut with some effort and without starving. At least before these housing prices

Nice, you are vegan like I am ! That"s also great for health and for budget...

Thank you so much for this video!!!

I love Dave Ramsey and I've used most of his ideas but I think that he is rather soft on how to budget. And I say this after taking financial peace University. So I'm pretty familiar with his plan. I took financial peace University not so much because I needed it for myself but just because I wanted to know exactly what it was that he taught so that I could send my clients there. But I've been budgeting for 41 years and I've developed my own system which involves spreadsheets. Before computers I wrote it out on a piece of paper.

@RetiredLovingIt

2 жыл бұрын

We have taught Financial Peace University. We love Dave Ramsey but don’t agree with everything he teaches.

@KMF3

2 жыл бұрын

@@RetiredLovingIt yes I don't think there is a one size fits all

I love the idea of an envelop system with cash, but probably mainly for nostaglia. Since cash is almost obsolete in Norway, for Norwegians its not used at all and we only end up with it if we have relatives visit from outside the country. We use mobile payments to pay for almost everything you might have once used cash for, from roadside honey honesty boxes, children selling cookies door to door and chipping in with gifts at work, spilting å restaurant bill at work, its all digital.

@MSchipper

2 жыл бұрын

Same in The Netherlands. Actually, one of our banks will start applying costs if you withdraw more than € 12.000 a year in cash. It's ridiculous, but that's how it works. Also, we have very few banks with tellers, so getting the bills or coins you need for the envelopes is very difficult with only ATM's available for cash withdrawal. The employees in the banks are called advisors, meant to give advise on mortgages, loans, etc. Not counting out your money. Many shops in big cities won't accept cash anyway, because of fear of getting robbed. So the envelope system would in the end be costing money instead of saving it.

Anyone who would listen to someone like Elizabeth Warren who is financially secure from your tax dollars & who consistantly looks for ways to tax & separate you from more of your money is flat out silly. I believe you are right, Dave Ramsey is probably the closest. I'd suggest a year of what your yearly net income is as an emergency fund. Of course that takes years, those that need to see larger measurable results quickly will feel overwhelmed. I say pay the largest high interest debt first. I do like the cut up the credit card approach as well.

We never made much money. We didn't spend much. Our kids worked part-time during school and vacations. Stay out of debt. Live small. Tina

Great info!!! really enjoy you guys

One of the best things that you can do for your budget, is don't overspend...period. You don't have to have the most expensive vehicle. Buy one that's good on gas. Don't go out to eat except on very special occasions. Eating out will destroy your budget! Guess what? You don't have to take a vacation every year. Do small day trips, close to home. You also don't NEED cable TV. Do you realize how much money you just saved? My two cents worth...

Omg i just love you guys. Such healthy, wise living. Far away from the destructive, consumer-world we are living in today. Big hugs from Sweden.

I could live on half. I'd be "living in a van down by the river" but it's possible. 🤣

@tenthousanddaysofgratitude

2 жыл бұрын

#vanlife! 😂

Thank you,I've learnt so much this year from you both :)

Good morning sis! Crazy morning I missed it live but listening to it now.

@UndertheMedian

2 жыл бұрын

I can't wait to hear what you think about the three budget plans. I know you've been frugal for a really long time.

@larryware1

2 жыл бұрын

Hi, Robin!!

Hi guys 👍 I watch you all the time and you really inspire me!! I agree you need to work on the best method for you! In the UK right now we are experiencing the cost of living crisis and the utilities going up around 80% in Oct!!!! So scary stuff 😖😳...I've done a budget,I'm on a really low income and as a single person I have to pay everything 🙃 I'm managing OK but the thing I'm struggling with is tracking my money effectively....no good on computers but need to get some clarity on the situation any little ideas you have will be gratefully received 😁👌

I used to be a much more close Dave follower but I completely agree that step 1 should be $2000. He set up this system in the 80's times change, things progress, and inflation is real. $2000 is much more realistic these days.

@RetiredLovingIt

2 жыл бұрын

Agreed 👍

@1992DJP

2 жыл бұрын

I agree Dave Ramsey has not updated his steps to fit into the year 2021.

I just love your content!

I'm in Australia and I read a book called 'How to pay off your mortgage in 5 yrs by the women who did it in 3' and boy oh boy did we really knuckle down, start getting frugal and working the plan! It honestly wasn't till a few years ago I even heard of Dave Ramsey - and I agree I don't believe $1000 is enough for emergencies but I respect the start base line and also I like the avalanche over the snowball. I have watched a few of his episodes on You Tube I do get a bit sad when someone will ask if they should do avalanche because mathematically it's better and he will snap back and say but math didn't get you into this problem - I understand he's dishing out tough love but it just isn't always helpful to everyone.

50% covers more than our needs, and we siphon off the excess into saving for retirements. :) But we have worked hard to position ourselves with better salaries over the years and not increased our outgoings. :)

@debbytirella9413

2 жыл бұрын

Dave has his plan for 30 years now

I do like the day Ramsey system he has helped many people. I don't have a debit card and will never get one. I know exactly how much money I'm going to have to spend each month and what I'm allowed to spend it On. I have a written budget whether it's on a Steno pad, Or the back of an old bill, I don't need a computer program to tell me What I can spend. I simply write Down the total amount I can spend deduct what I have spent and I know what I have left all I need is a pencil and a piece of paper

You two are awesome.

Salam hangat dari INDONESIA. TERIMA KASIH

My budget is to have automatic saving out of every paycheck and then to spend as little as possible so I don’t have to dip into except on rare occasions and then replenish ASAP. I hate shopping ( except at Home Depot and HarborFreight lol) and just don’t buy stuff if I can avoid it.

The budget that works for me is any of them and tweak it to fit me. Your right one budget doesn't fit all. I can understand why the snowball method works even though the avalanche method is better. It's for those of us just starting out, who need to see some results to keep us interested and going forward and not to feel overwhelmed. Whereas, later on as we get used to budgeting and being frugal, we can take it to the next level. thank you for your videos.

@larryware1

2 жыл бұрын

Exactly, it's easier to take it in steps.

I don’t know how to workout percentages! Could you do a video on that .Thanks

The envelope system is only good for variable and continuous budget items. Not for bills that you pay once and done.

My mom and dad used envelopes way back in 1962 when they bought their first house.

Going to use my coupon that accrues as I make purchases at the bread store, I have a full coupon of coupon mark offs good for one loaf of bread. I like the Oroweat Health Nut bread. Not very impressed with bread since the 90's but this serves my purpose. The coupon when full is good for a free loaf of bread. 15 and 1/2 years working for Wonder Bread I never ate a full loaf of white bread all that time. I'm about to turn 65 & about to fill for my pension.

I love the end. The drum role is great too. I think all plans can be wonderful

@UndertheMedian

2 жыл бұрын

Thanks, Dawn. We are huge proponents of picking a plan that works for you and sticking to it. We don't want people to ever feel like there's only one way to budget.

I hear the best way is have a minimum of one year of expenses saved.bare bones expenses. Live below your means Once your home/vehicle/debt is paid in full,you owe nothing..take those payments and put into savings,emergency fund,sinking fund. I generally do not carry cash.if i do, it's a set amount.this past weekend,sat.sept.25th,2021, my area had edgewater days.bunch of sidewalk sales all over. Hubby gave me $40 to spend. I got nail polish,shower gel,perfume,lotions a purse,2 tee shirts.and his energy drinks..plus a tote bag for $35.oh..got a necklace..too

@RetiredLovingIt

2 жыл бұрын

Great job 👍

Love the video, thank you 🙂👍❣

I'm just gonna say it. Pay your bills the moment you get money. Pay your car insurance in full the whole year and each after that over pay your credit cards over minimum payment. Pay your phone bill for full year. Always save confirmation numbers and receipts shop at stores that reward you Bel air gives voucher every three months for points program. Put grocery money on gift card and only spend that amount. Check prices of groceries prior to shopping. Etc

Fantastic video! I love the clickbait at the end!

The Barefoot Investor by Scott Pape (Australia) has to be the best book and method I've ever come across 😀

Like the lamp xx

@UndertheMedian

2 жыл бұрын

Thanks, John. We were debating whether we would keep it in the new studio area or not. Helps to know that it looks nice.

I've used a modified 60% solution where I save about 40% of my take home pay. I tried doing the detailed budget and that did NOT work for me. Working off of percentages and automating transfers to saving and investment accounts on a weekly and half-monthly basis makes it easy. Yes, it is possible to live on a low % of income by making sacrifices such as having roommates, living in cheaper areas, NOT having a car, etc. so basically living like you are a broke college student. My biggest weakness is cutting food costs, but I know if I pay myself first what I need to save I should be ok, I just end up spending much less on clothes and entertainment.

@UndertheMedian

2 жыл бұрын

What a great analogy. "Live like a broke college student." That's it, exactly. Your modified percentage system is really interesting to me. I love hearing what strategies work for other people. Thanks for the thought-provoking comment.

My mother, who passed away just shy of her 91st birthday in 2007, used the envelope system successfully for many years. She also used envelopes like notepads.

We use the 4 walls plan.its sort of like what you discussed. We make certain right off the top our rent is paid.our electric and internet are paid. Then we buy our pet,hygiene,cleaning and medical items.and then groceries which is actual food.yes..we get a treat once in a while.but we make sure we have actual healthy food first.

Good listening i want to tell you last week i made chili baked potatoes with cheddar cheeze that hope mentioned once i had left over potatoes had a can of 99 cent chili and had chedder those were yummy i had sour cream to top off too thanks much hope