I have been on Disability for 8 years now, I learned how to be frugal and to think about any big purchases before making them. I am currently debt free and plan on staying that way.

It s a mindset issue, more than a money issue, although very low incomes have it a lot harder

Here are a couple of things i do to really save money.... 1. I cancelled my gym membership and bought a good set of resistance bands (a one time purchase) and i now work out at home and as for a personal trainer....KZfaq is amazing for that 2. Meal prep and food budget challenges.... i know what i am eating day to day and week to week and i only buy accordingly,including work lunches 3. A well stocked pantry and freezer.....yes it sounds like it goes against what i am saying about number 2 but this one does take time to do,but if you build it up with a few extra cans of food at a time,you will reach a point where you will ony be paying for some fresh ingrediants for your meal preps.I also only buy certain foods a certain supermarkets because of the price 4. Bulk buying....when certain foods are on sale like meat for example,buy as much as you can within reason and stick it in the freezer...also work out which is cheaper to buy per 100g,the supermarkets actually have that on display... eg..i found out it's actually cheaper to buy the store brand rice in 1kg bags than buying a 20kg brand name even when it's on sale 5. Reduce your cable and streaming package with your friends....everybody subscribe to seperate services and everybody go round everyones places and have binge parties...with a bring your own sancks policy....your out of your own place a couple of times a week saving on your energy bill as well 6. Coffee...buy a coffee machine and make it home,supermarkets do seel the coffee pods from all the brands we love including Starbucks and Costa...now see number 4 and bulk buy the hell out of it when it's on sale. 7. Take out...learn to make it at home,the cost of making a pizza at home against ordering one in will shock you...again KZfaq is amazing for this sort of stuff,there are literally thousands of channels dedicated to take out replica,i'm in the UK and i'll probably never have a Shake Shack burger but i now know how to make one and have done which is the next best thing All of these changes do NOT happen overnight,it takes time....the best advice i can give above everything else is to be patient with yourself

Ordering my groceries online has saved me so much money. When I actually see the total before I buy, I spend less...more than enough savings to cover the delivery fee.

Eating less meat really helps. Many soups, spaghetti etc is just fine with less meat

Cash in the envelope or jars really works. That’s why cashless society will lead people to be more in debts. I rarely use my debit card. .Always pay yourself 10% of what you earn first and than divide your salary. Thank you for the wonderful tips on how to save money.

Food is definitely a budget killer. I literally went over budget today. Great tips, enjoy how realistic they are.

4/3/21....As a single retired lady living on social security I make large meals & divide them into single servings + freeze leftovers for later. I save TIME + 💰 doing this ➕ only clean up the kitchen 1 time for multiple meals! I also read the store ads & buy the "specials" esp store brands + Buy 1, Get 1 FREE for basic items I eat. AND I buy fresh fruits & vegs in season when cheaper.

I have a low income, what has really helped me in this Covid time is really sitting down and calculating your monthly expenses. See where your money is going and cut back on non essential spending. Also housing. I recommend staying with a relative temporarily, or renting a room. You do not need a fancy apartment.

When I started my debt free journey, I started cutting back on basic expenses first. Overall I saved $1,000 per month, with the largest savings being in rent and medical insurance.

One of things I do now is if I’m cooking a meal which can be frozen I will sometimes cook double, one to eat and one to freeze. This really helps for those days your perhaps feeling a little ill, I have a few back up meals in the freezer. Also with meal planning also check what you already have before shopping. This evening we had a fish pie with made with random bits of fish I already had in the freezer, already had some potatoes and peas so free meal.

Word of caution to those considering refinancing your home: this can start the clock over on the amortization of your loan. This means you pay a lower amount monthly, but the majority of the payment goes towards interest and not the principal of the loan. Read the fine print! It is likely to be too good to be true.

These are very helpful tips! Planning all things really allows me to budget. I’d like to mention many people are not living with the appropriate cost of living, living wage measurement. Some people really are making enough to just pay for necessities. I think we have to really discuss how to maximize your income in addition to saving because it is hard to save what you absolutely do not have

I never thought about saving that 5th check🤦🏾‍♀️ I just spend it. God Bless you for putting this information out!

I love all of the tips but I wish someone would have realistic ones for single parents who don't make over $60k/yr. You can't squeeze blood from a turnip.

When I prepare a meal I always look at what I’m preparing, and what I could make for another meal with leftovers. Helps me with being reasonable with portions as well.

Excellent practical advice! I love the savings challenges that you talked about. I started the one dollar challenge a few weeks ago. It's a smart way to save money without feeling too deprived.

Thanks for this info. Another massive money saver is paying mortgage bi-weekly. That equals one extra payment per year. One a 30 year mortgage that generally eliminates 6 years of mortgage payments for every year you make that extra payment. Saves THOUSANDS in interest. Even one extra principle payment early on in the life of the mortgage can save thousands over the course of the mortgage. Not every one can make a lump sum big addition to the principle once, but every one can pay bi-weekly. That's another way of using the extra paychecks that come through the year. There's still some left over for savings, too.

I just love how you go straight to the point! Your content is quality and that makes me automatically like every video of yours I watch without feeling cajoled. 👍

I save the change from purchases made with cash. If I save through clearance purchases, discounts , using coupons and the difference goes into my Emergency Fund

Don't shop when ur tired too. U will buy every easy thing even if it costs more

I’m doing NO Spend November 2020 💰 Challenge

I Just started doing this 2 years Ago.It have saved my Life😂😂😂😂.

For the people who dont live at their mama's house and on a low income 1) try to save 20% of your monthly income...in a year it add up 2) invest in stocks...Money will work for you...Again it adds up 3) Stop buying unecessary items ( clothes, shoes and buy store brand makeup... shampoos ....) you might save over 500$ or more 4) spend less in groceries...Buy less meat...Not saying being vegetarian but buy less meat...Meat is expensive...Cut back on snacks 5) Quite smoking, stop drinking alcohol and stop smoking weed 6) have an emergency fund 7) Learn to do your own hair and nails 8)Make sure you pay your bills each month...You miss a payment debt and money problems will accumulate 9) Dont buy the latest phone 10) cut the cable 11) stop eating out...Learn to cook

Enjoy this channel. Building a treat into you budget is always good it gives you a choice once a week to spend on anything, instead of keeping to the routine. Great tips. Once it becomes a habit it gets easier.

It's all about savings habits. Just because you earn a substantial amount of money ..... really don't mean anything if you have no self control

I don't have a mortgage payment so what I would spend on rent per say, I put into a savings account

Love this channel so much! I am actually doing pretty well on saving, so some topics aren’t relevant but I watch anyway because it keeps me motivated with really practical advice and examples. Thank you!!!

The best way to save money -don't spend))). Spend only on crucial things. Personally I spend a lot on coffee, yummy food, entertainment, this is my problem. I realized that if I'd cut those things out from my life 😂 I would be saving a lot

Can you do a video dedicated to budgeting or spending less on food?

As stated earlier the 5th check theory is a great idea!!!! Thanks and God Bless!!!!!

I have $957 a month to cover all my expenses, both fixed and variable. That is living below the poverty level. I live in Vancouver, WA and rents just keep on going up at least $25 a month, for the last 5 or 6 years now. And now food and utilities are just going up more and more. I do not have a car, so I use public transportation. Honestly, I can’t really think of any way to save much money. You have to have money to save money.

NS here! Great advice and help!!! I'm trying to pay off old debt.

Pay yourself first.. I did when I finally started getting disability..I put $125.00 into a monthly "nut" that went into a CD Ladder (yes you can find institutions that will let you open a CD for as little as $100.00)..eventually the ladder grew to 60 steps (yes 60 steps)..The CD earnings was quite a bit more than typical savings.. in fact it was more than High Yield and Money Market..Plus I had the monthly or quarterly interest payments paid directly towards my savings..And yes I lost the benefits of compounding.. but only for the time that the money stayed in savings or until it was re-invested making it easier to make my monthly "nut"

I’m retired and live on social security which is paid monthly. Living debt free is essential. Budgeting effectively for food is essential. Meal planning, buying less meat, cooking more vegetarian recipes and portion control are very helpful. The cash envelope system does work especially for managing my food budget. Love your channel.

Thank you for your simple explanations. I am putting this video into a playlist to share with my clients. I teach Life Skills and your video include lots of helpful tips and facts.

I only figured out the 5th pay check thing this year it's all going into paying off dept and savings now!

I know lots of people who are broke who have expensive phones and phone services. I have had a trac phone for years and the cost is low. I now have a ROKU and cut the cable bill by $100 a month.

One of my best investments was the purchase of a Dutch oven, where I cook large amounts of chili, chicken marsala or other dishes, and freeze them for later use

Great tips as always, Ms Vee.

Love your blouse.

Thank you!

great coverage !

Had to click Like before even watching ☺️

Thank you

Lovely 😊 video thanks 🙏 dear 🥰🥰🥰🥰👌🏼👌🏼👌🏼👌🏼

Take a critical look at your insurances and how you pay these insurances. Many people keep the same companies year in, year out, but things can change. The services offered get lower (in minor details) and the invoices get higher. Another thing is trying to pay insurances like home insurances and legal aid and such insurances not on a montly base but for a year ahead. Companies may give nice offers. The tricky bit is that the next year, you don't have to pay the invoices for these insurances, but you need to put that money on a savingsaccount, for next years insurance bill. The money saved over the year is not "free fun money" or suited for investments. It asks a little discipline or an automatic order to your bank.

Thank you ❤

Good to know

Another great video! Fantastic!

Very informative. 💘 the 📹.

New subscriber!!! Thank you for sharing this .

I agree with everything except refinancing mortgages... refinance keeps you paying high amortization interest regardless to the loan Interest rate... never refinance... pay the balance down quickly!!! It’s saves you in the end... we are trying velocity banking...

THANK YOU!!!!

Great video

Always good advice.

Coupon on food and toiletries use rebate apps. Save income tax return if possible. Learn a skill and or create or another stream of income. I’m going to try a no spend money for 7 days. Idk I feel nervous even thinking about attempting it.

Thanks for sharing.

I take my lil money out the bank that I plan to save....Drop it in a saving pan that I can’t open at all until I reach a goal to destroy the pan.... take it out them fixed deposit 😂

Food!! My nemesis

I get paid monthly. I feel like I'm getting scammed on my 5th week pay checks

OK, what do you do to save on a low income when you’re already doing all of this? And don’t talk about ANOTHER income, I’ve got nothing left of myself to give to ANOTHER job.

IF you budget figuring just 2 paychecks a month $$ x 24 checks, the 3 "extra" checks in a year can be used to save or pay off debt BUT if you budget using your yearly pay you won't have those extra paychecks as they are spoken for in the budget.

That color looks really good on you.

Thx for the tips.

Augh, you are absolutely gorgeous! I always enjoy your aesthetic and how you get ready. You explain things so well and give such great examples, I really appreciate you sharing your experiences. Broken Wallet stays one of my favorite financial channels!

Thanks 😊

Thanks the info will help alot

These were really good tips thanks for sharing

Love your channel, I make 30,000 a year gross pay. I support myself and my teenage son and two dogs. I’m trying to save but having a hard time with the needs of the Internet from my son school Insurance for the cars etc. I’m not sure if you’ve done a video on budgeting with a family or budgeting as a single person with a child? But I could use a little help with that. Keep up the good work I really love your channel

Thank youuuuuuuuuu ❤❤❤❤❤❤

As someone that gets paid every two weeks, we might get 2 of the 5th pay check in a month for a year. But it is a good idea to save it! I usually use it for getting forward on Bill's since I know my tougher months that come up.

l love your hair! suits ya

Convenience can be a lifesaver at times

Hello from Ireland ☘️☘️☘️

Thank you so much for this video. Full of great information and straight to the point. I'm definitely building my podcast income stream called "Simply Nickie Podcast" that I started in April 2021 that is on all podcasting platforms. It has skyrocketed since April of 2021 and I just want to expand my podcasting brand and listeners in 2022 and beyond.

You are the best thank you for those tips !❤ Michal

One more tip: do not buy iPhone 12 now, wait for iPhone 13. You won't regret.

Please make a list in the description. Thanks

New subscriber 💟

From a low income country i take less than 300dollars salary but am able to save 200dollars every month by cooking daily. Buy groceries every 3 month. Looking for any high earn investment to invest in. I live in my office compound so no rent or transportation

Im new to your channel and I love it. Your absolutely beautiful and smart.

There's only two months with a fifth week. People who are paid every other week get 26 paychecks a year.

Some folks will find a part time job! An extra dollars a month will come in handy!

Please turn on the captions. Thanks!

Great video. Can you do a video about stocks. There are companies that help you buy small portions of stock in companies you normally may not be able to buy.

Subscribed! I like the jump right on approach! So sick of all these chicks talking and squabbling on "welcome to my channel..." Keep singing this from the mountain! More people, especially women need to hear this. 👏🏽👏🏽

👍👍👍

Car payments ughhh can't wait to be done paying off my truck.definitely my biggest expense

Very great tips. I couldn't help observing the nice shirt. Do you mind sharing where you bought it?

Unfortunately right now 100% of my income is going to needs but eventually I’ll be in a spot where I can put 20% in savings or any percentage into savings

If you cannot even save with little money you have then when you make more money you’ll never know how to save. Lol

I just adjust the percentages if the needs portion is above 50%.

❤❤

👌👍

I would also spend "after" you pay yourself (in terms of investment/retirement). Why is this important? On the most basic level, if you don't save, especially for retirement, you don't get those years back. I started saving right after school, in the early '80s. And, remember, if I hadn't, I wouldn't get 1982, 83, 84,,,,, back.

Don't use credit cards because when people use cash they spend less

I suck at budgeting. So I set aside my tithes and $1,000 for savings at every paycheck. All other items that appear afterwards get shuffled around with what's leftover. - Mortgage -car note -car ins -fpl, Internet, water, Netflix -food (lol) - but Why it's last on my list though? 😂😂

Great👍🏻👍🏻👍🏻 Are you investing?

ive never tried the envelope system. i just put a certain amount in my cheque account and use my card. however, when i run out of that, i use my credit card, so the system doesn't really work. maybe i should try it, for a couple months. i need to not overspend