Getting better with money without being perfect.
I've made plenty of financial mistakes but I've learned from them and so can you.
You don't have to be perfect to win with money. You just have to be motivated and consistent.
Thanks to budgeting and learning about money I paid off $82,000 in debt, built a $100k+ portfolio, and set my family on the path to financial independence.
You will see videos about:
- budgeting
- paying off debt
- saving money
- investing
- home ownership
- financial apps
Little actions we take with our money compound to hit BIG MONEY GOALS.
Every Tuesday we share our personal money moves toward our goals on "Transfer Tuesday", which I started in October 2019 to encourage myself to earn more money and pay off debt faster.
Website: penniesnotperfection.com
Shop: penniesnotperfection.com/shop
Newsletter: penniesnotperfection.com/personal-finance-newsletter/
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I haven't had debt in 40 years, make plenty of money, and am perfectly content to remain in the middle class The rich people that I know are obsessive workaholics who have little enjoyment from their wealth
Are you able to use wealthfront account to pay online like to book hotels for vacations? Or pay for any car repairs instead of credit card?
I bought a new car last December. We needed a 3rd car. My old car was 14 years old and paid off. We gave that to our son and bought a new car. Had 25% down and qualified for zero percent interest. Didn't get the exact car I wanted, but we went with the best deal. We pay off our cars as quickly as possible and drive them forever. That all being said - it sucks having even a "reasonable" car payment after 10 years of not having one!!! Also we looked high and low for a decent used car at a decent price. Used cars are so expensive now! I was shocked.
It’s crazy how expensive cars are now! I’m bracing myself to likely have a car payment again one day because of it.
Should I have 2 HYSA accounts? I'm currently have one but it's app hasn't been working and although I want to keep the account open I want to try another higher yield savings account.
Like others have said Cars are the biggest trap and wealth killer. People are spending mortgages on monthly car notes and some family's have multiple brand new vehicles that is halting in gains they are making
i cant find the link...
Thank you, for sharing the seven (7) Money Traps that, may possibly be keeping you right in the "Middle" of the Middle Class and thereby, not able to advance higher toward the "Upper" Middle Class and into the Wealthy Class. The two most important are "High Car Payments" and using "Credit Cards". With the first, you should try to buy only quality used automobiles and drive them until their annual maintenance costs is almost as high as, monthly payments on a newer used car. For the second, I never go after points only low annual interest rates and primary use, just three cards: a Master-Card with an interest rate of 8.9 APR, a VISA with an interest rate of 12.9 APR, and an America Express card. Lastly, you are correct it is much better to measure your financial progress by Net Worth, and not by annual income. Have a co-worker, who has a stock portfolio valued twice my size but, they only lease automobiles, rent an apartment, and contribute less to both their pension and 457 plans. Now in my early 60's, I retired last year. My current Net Worth is $1.4 million (with half the value of my fully paid-for home and, the other half in liquid assets).
Great Great Video. I would ❤ a new car, but we have 2 pd for nice cars know way I’m taking on a huge pymt. I finally stopped about tens yrs ago keeping up with the Jones. 😊❤😊
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.
I’ve never done one of these but a no spend week seems so much more doable than a month
I’ve witnessed all of this. Even on budgeting YT channels they’ll have brand new massive car payments, but I’m sure it would be nice to have new cars 😂 We wouldn’t be able to invest much if at all if we had a large car payment…
Same, we invest more because we don’t have car payments. We might have to get one eventually but I’m enjoying time without one.
Leasing cars is a great way to never get ahead! Inhis book, “The Millionaire Teacher”, the author Andrew Hallem makes the point that leasing cars your entire adult life is a million-dollar decision! Even if his numbers are off by a factor of two, it still means that it is a half million dollar sinkhole. That’s a half million more than alternatives… Meanwhile, my last new car was purchased in 1989…my wife’s was around 2002. Since then, used cars. Diverted “savings” to paying off the mortgage, retirement savings, putting two kids through college. Funny, if I looked at it, it’s probably close to a half million. :-)
Happy June (a month late!!) 😊
Great info. Yeah cars are more expensive since Covid but people are often buying more car than they could afford now than in the past. Many people are on a Ford Focus budgets with Dodge Ram expectations and bills in their low middle class income. Yikes on these $1,000 monthly car notes with 8% interest. 👀 There's nothing wrong with getting a car you want when you can do it within your budget while still saving for a rainy day and retirement. Get a used version. Heck, rent it for a week in vacation.
That’s what we did we rented a 4 door Jeep Wrangler in Key West. It was awesome, but I did hate returning it😂😂😂
Be where your feet are ❤
❤
Thank alot you for the content!! All we need is the right advice on how to invest in crypto and we will be set for life. I made over half a million dollars from trading this year regardless of the market conditions😊😁
Are you struggling with any of these middle class money traps?
Sunshine. Although I skipped TT this week (was ill), I am happy to see the progress you are making. I am currently focusing on credit card debt and really want to end the year without it.
Love my 360 saving account! ❤
Finally a video utilizing simple math and no shortcuts with sketchy math that doesnt quite check out. Personally paying extra each month and on the path to paying off in 3 years.
Really great content. Thank you!
Great Ideas!
Sunshine. Summer Camp. 😂😂😂
I use my credit score to help me to retire early. I am financially free with rental properties that the bank paid 80% of the cost.
Glad you guys have funded your summer vacations. I use the 100 envelopes to fund mine and doing good with it. Have a lovely Summer, Mary.
Sunshine 🌞going hot soon .,, Dubai ! Then London and Edinburgh … it will be interesting 😂and isn’t it awesome even on a vacation month you can STILL move money to your goals 🎉glenda
I created my Capital One savings account after watching your video. I have set it up to make a contribution weekly!
On Friday when my paycheck hits I will have hit $200k in savings/investings. My next goal is to get to $250k
Sunshine ☀☀
☀️☀️☀️
I'm older GenX. It's always been a struggle for younger people starting out. Expectations for travel, expensive weddings, homes etc is way over the top for GenZ and Millenials. When I was 28 I supported a wife and, a new baby, paid fully for my MBA at a top-tier school, and purchased a home at 30 all through a single salary in corporate America. I did not indulge in anything! I also helped a mother-in-law with cash payments. I did not go on expensive trips and invested everything I could. Now at 56, I am fully removed from corporate, transitioning to managing an investment portfolio.. This also comes from overcoming a 7 figure divorce setback 9 years ago. Younger generations have to lower expectations, grind for 20+ years, and learn investing acumen.. All they want is immediate gratification and parents to help out. I received nothing! I built a 7 figure investment portfolio from 0 and investing a 401k
Sunshine. Thanks for showing my comment! Glad you and your family had a great vacation. I put $50 into both my savings accounts yesterday. Have a Great day, Mary!
SUNSHINE ☀️ ❤ the vacation pics😊 no transfers
Beautiful footage from the trip!❤
Thank you!
Sunshine
I'm $1,000 away from hitting my $50,000 savings goal and I'll be depositing that money next week. Once I hit this goal for my HYSA I will focus on saving into my taxable brokerage for longer term savings goals.
Good job!!
That's incredible!
That is amazing!!! Congrats on being so close!
I transferred £482 to my 60-day notice account. so happy : )
Great job!! :)
@@PenniesNotPerfection thank you 🙏
I love the clips from vacay!
Thank you! It was super fun!
Transfer Tuesday YAY🎉 I transferred $125 into my Robinhood Roth I.R.A. YAY. Only $1450 untill I max it out. Bought some PLTR.
Great job!!
Yay for holiday Mary 😎 Over $3500 🎉 Sunshine 🌅
Holiday mary is the most fun mary!
WOW MARY amazing...SUNSHINE
Thank youuuuu
Wonderful pics! Sunshine! Amazing to see you hit 3500 in just a few months - very inspiring!!
Thank you so much! It feels like it's going faster now after a slow start early this year.
@@PenniesNotPerfection we're funding our next down payment with our bonuses each quarter. By the end I'm hoping to be at 10k also, but watching you build it up little by little is awesome! Those small things that add up are funding our Christmas instead!
Sunshine. No money transfers today. Home chillin on vacation. Love the video. Congratulations on your progress!
A nice chill vacation is always nice! thank you!
My florida trip is in 19 days!🎉
Woohoo have the best time!
My daughter had an ING account before she was born. Her college fund has been in her now Capital One 360 sincethey converted in 2012. She's now a senior in high school. They have terrific customer service.
Thank your Government for spending Trillions and Trillions of Dollars they do not have.
Love your content! Just by the title i saved this video to watch later
Awesome! Thank you!
YOU VOTED FOR IT . IDIOTS. VOTE TRUMP IS THE ECONOMY STUPID. FUKK UR FEELINGS
One other Pro with Capital One 360 is you can deposit cash into your account at CVS (and also possibly Walgreens). I’ve use this a couple times of times which is awesome. It’s just like depositing at a bank. The money is instantly available. As for transferring funds to other institutions, I use Zelle. As long as the other account also has Zelle, the transfer happens within minutes. It’s been a life saver. One con for me is I do get 2 day early direct deposit with my checking account, but not with savings. Not a big deal as it’s very easy to transfer money, but it can disrupt my budget routine sometimes.
I'm 55 and earn about $450k annually, only save 30% in HYSA's. I've been reading a lot of articles mentioning how worthless 'cash savings' are in this current unstable economy, thus my question - real estate, stocks or gold, which will be a better investment as of now?