Hi guys, welcome back! This week I want to
talk to you about more finances we’ve talked about this topic before and I
love sharing with you guys what I’ve learned I am in no way an expert in this
but I have been paying off debt for three years my husband and I we paid off
around 80,000 USD in three years so I do have some personal
experience with this I’ve also done specific budget videos, but today I want
to share with you ten ways that you can save money. I’ve tried to put things on
the list that are both like everyday things that you can do and then I’ve
also had some of the bigger things on there they’re more like your mindset and
stuff. Let’s get started! The first thing on my list is super easy to do and it’s
food-related I actually have three different things in there that you can
work with because there’s so much that you can do to save on your grocery bill
first of all don’t go to the store when you’re hungry. If I go to the store when
I’m hungry I’m gonna stuff my shopping cart with things that where not supposed
to be in there and my bill is gonna end up higher than it actually was meant to be Of course this helps if you limit your
visits to the store in the first place and that was a big help for me I try to
make a grocery list that we go every Friday and then we buy most of the stuff
that we need for the whole week That way we don’t end up going to the store more
than we actually need to and then we limit the amount of times that we can do
impulse buying. And then Titsiana Brown one of you guys awesome subscribers
mentioned in a previous video that you can also do a lot of food prepping.
I’m experimenting with this I’m not an expert on that but I do know that food
prepping helps me actually use everything that I bought in a week and
it helps me a lot the times where I’m I feel I’m too tired to actually cook then
I know that I have something in the fridge I can just pull out and warm so
it saves me on the takeaway Number two is to manage your subscriptions,
this might be to gyms to magazines to Netflix HBO all those kinds of things
subscriptions can be great if you actually use them but a lot of times I
feel like subscriptions are kind of like a leaky pipe in your house it’s like
water just stand there and just slowly sifts away and it won’t seem like
much because it’s just a small hole but if you add it up in a month or a whole
year it’s actually costing you a lot of money so I would recommend go through
all of your subscriptions and just see which one you actually use and just try
to limit it. I know that cable bills can be really high too so try and see if you
can get a cheaper one maybe but manage your subscriptions, know which ones you
have and what you’re willing to pay for them. The third thing you can do to save
money is to walk or bike places instead of taking the car. Of course this will
save you money on your bill but it will also maybe you can get rid of that gym
membership that you’re rarely use so it’ll give you a lot of natural exercise
and sometimes I find that when I was really hardcore with the budgeting three
years ago I would actually walk places even if it was a couple of miles away it
would kind of give me this time to think a little more deeper, reflect on things
listen to a good podcast or something like that and then when I would get
there I was actually in a lot better mood than if I’d rushed there so just
check out if this is something that might work for you.
Number four is to save up for things that you want so you can purchase them cash.
In this way you’d save a lot of money on interest rate because every
time you buy something and you have to pay it off every month they add a lot of
interest and it might sound really basic and it kind of is but get it rid of
everything that you have to pay on a monthly basis and just save up for it
wait a month or two longer than you normally would have then you can buy it
you’ll own it outright and you’ll save the interest. My fifth tip is that you
get in the habit of planning for things so big expenses that are coming up.
I do this sometimes with gifts so it’s a good idea to look for deals ahead of time you know.
My sister’s birthday for instance is coming up and she has a online
wishlist and I can actually just go on there and I can look for good deals
ahead of time this does not mean you have to pick up some random thing from
the sales pile in the department stores you can still give people what they
actually wished for you just have to plan it so it’s
possible for you to actually get them what they would like even though you
feel it my be a little bit out of your budget so
I’m doing this right now with a bike because I need a new bike so I’m just
trying to do research figure out one of the general prices and once you have an
idea of that then you know when you see a good deal I do this a lot of plane
tickets so what I’ll do is maybe six months maybe nine months ahead of time I
know we want to go somewhere and then I’ll just go online every month or so
maybe every two weeks and I’ll get an idea of what the price range is gonna be
for that ticket while I do this I save up this way I know I have the money
ready all of a sudden a good deal would come and I can act fast so I really
recommend you do this with bigger and smaller items and if you’re a kind of a
planner type like I am it’ll probably come more naturally to you but test it
out and see if it works The sixth thing that I recommend you do is
to keep a budget this should probably have been number one I’m a big fan of
budgets I do really well in some periods of my life and then other times I don’t
do as well with it but when I do a budget I do so much better in general I
love being the boss of my finances and what I actually really love about the
budgeting is that it will give you a really clear visual of how many small
purchases you make and how those small purchases become a big chunk that you
can potentially get rid of so do a budget whatever way you want to do it
I’ll have a link up here in the cards to a budget that I did where I go
through how my budget was when we were really on a tight tight budget a few
years ago so I’ll link that up there and maybe that will be helpful to you
otherwise there are a lot of online services that you can use to help you
budget you can also just use a pen and paper or you can use a spreadsheet it’s
really up to you but I recommend that you do it and you stick with it because
it will be so visually clear to you where you can save money and that’s just
awesome Number seven: practice delayed gratification. If you go into the store you see this thing you really wanted,
and it might be something that you kind of need but you don’t need it right now
you know what I mean. So the exercise is you see this item but you don’t buy it
you go home and you wait maybe a month maybe two depending on how big the item
is and then you see if you still want it if you still want it and you find that
you need it then put it in your budget to save up for that item then within a
month or two you can actually buy it with cash guilt-free I know that I’ve
mentioned a lot of kind of smaller things that you can do but I also want
to mention one thing that is more mentally and it’s about really seeing
things from the different perspective so instead of saving money, then think how
can I make more money shift your attention to the bigger things like
interest rates on a potential mortgage you can save a big chunk there you can
save up a bigger down payment which will also help you a lot over the years and
then do something active to negotiate your salary at least every year you
could probably do it every six months if you’re able to really get into this
mindset those financial decisions will bring in that much more income every
year compared to how much you can save on a grocery bill or by not buying a
coffee or going out with friends so you have to try and focus on the big picture
and try to look at the big money piles either going out or coming in. Number nine kind of ties in to the previous point and it is raising your financial IQ you
can do this by reading books I listen to books and you can subscribe to podcasts
you can go to seminars anything you can do to really educate yourself on money
no one’s gonna come in and tell me if it’s better to do this kind of saving or
this or do I want to invest I have no clue so I’m doing this point number nine
right now and I’m really trying to go through books podcasts all these things
to raise my own financial IQ once I’ve done that I’m planning to do a video to
share with you guys which books and podcasts that I really found helpful so
look for that in the I cards if you’re watching this video a year later last
but not least remember why you want to save that money. You want to buy a home
with no mortgage, a car with no payments do you want to travel around the world?
you just want to get out of that pit that you’re in right now?
I know that feeling! I was there just three years ago
whatever it is just make it visible to yourself put it on a sticker and just
stick it on the mirror in your bathroom or on the fridge this will help you when
it gets tough so keep it visible and remind yourself again and again why
you’re doing this because budgeting can be a lot of fun but sometimes it’s also
really really tough when it comes to money I think it’s just great to always
be mindful of where do I spend my money where are my biggest expenses and what
can I do to increase my income and to really spend my money wisely
I can only spend that money once I want to do it right those are my 10 tips for
you guys I hope they were helpful if you have any more ideas please leave them
down in the comments so other people can read through them I love the discussions
that we can have here on YouTube you’re just learning from each other it’s a
great community if you liked the video please give it a thumbs up and subscribe
and come back and come back next week because I post every week about
downsizing, home tours, people who live different kind of lifestyles, finances,
capsule wardrobe, all kinds of good stuff so if you’re interested in any of that
come back for more See you guys next week! Bye!