I have been doing this for 2023 … I was debt free before and looking to get that way again tired of bills 💸 outside of my basic expenses

What's your goal on getting rid of your mortgage I'm on a 5 year plan and my goal is a large chunk 20k Jan and July to the principal and every month add $500 to the principal ? What's your plan?

@@TheMrzjonezz I started with my very first mortgage payment by adding in an extra $300 to the principal with each paycheck so that first month was an extra $600. Every month I try to make those two payments bigger even if it's only by an extra $20 so now at the two year mark I'm actually paying an extra $2500 a month. (It really helped that except for my mortgage I'm completely debt free.) Every year I get a bonus from my job and 100% goes towards my mortgage. I've learned to put it to my mortgage within a half hour of it hitting my bank account because if I wait I will find a way to rationalize only putting part of it towards the mortgage. I even do something that may sound silly which is if I'm considering buying something and later decide not to buy it, then I take what I would have spent and apply it to my mortgage.For example, recently I was thinking about a new pair of workout shoes. I'd picked out the pair I wanted and decided to sleep on it. The next morning I carefully looked at my current pair and realized they probably were good for another 2 or 3 months. So I took the $125 I had planned to spend and shifted it to my mortgage. I learned when I did my no spend/low spend year that I actually had a lot more money to direct towards my goals than i thought I did. Of course it helps that my daughters are grown and independent so 100% of my money is mine to direct as I wish. It also really helps that I have a definite goal and timeline. When my mortgage is paid off I plan to work one more year and take all the money that I've been putting towards my mortgage and divert it towards a year of intensive saving/investing before I retire. I live simply but with great joy. Most of my favorite activities are free--riding my bike (got rid of my car in 2008), long walks with friends or playing cards & shooting pool with them, reading books from the library (I average 2-4 a week) are just a few examples. But I don't spend no money at all. The reason it's going to take me closer to 4 years is because I'm going to Paris in September. That expense will add an extra 8 months to my plan but I feel it's worth it as I used to live in Paris and will be going back to see friends. The pandemic taught me that life can take unexpected turns so I don't want to wait until my mortgage is completely paid off to go back to Paris. I wish you well on your journey.

Thanks for the encouragement

What were your first steps in this lifestyle change? I feel I’m at that point where I am slowly giving in to the consumer culture. Any tips?

Good for you. Sometimes slow and steady is the way to do it!

I use the envelope system, and it works. You will surprise yourself with how much money you can save. You are doing a excellent job👍🏽. Keep up the good work honey 😊

Excellent. The worst is comparing yourself to others and feeling you fall short. $40 may seem like nothing to some people but if you manage that every month then you have $480 that you wouldn't have had otherwise. Tiny steps really do make a difference but the biggest difference is just living your own life and not comparing it to others. There are ALWAYS people better off but there are also others who are in worse circumstances. Take the joy you can from your own life.

PROUD OF YOU! Preach!

This is great thank you 💜

Well said!

Yes. Thanks

Yes 😂 Never ever underestimate the human talent of forgetfulness.

They’re laughing at you, but I bet they’re up to their eyes in debt!

It’s quaint. Maybe it was warm chuckling.

Maybe it was a nervous laugh😂 bc they aren't...saving ✉️

@@cherylT321 You just took the words out of my mouth…

@@ADR7707 👍

Yes "lent " is a good idea + and fasting at the same time .

That’s an excellent idea,Anya. I gave up sugar for Lent.

@Mel C Yeah. I’m not exactly a great catholic. But we are when it suits us. Trying to also loose weight. So cutting out “rubbish” in my diet is no harm either !😂😝

Did my budget Jan 2023 I was spending unnecessary money on Uber and Uber eats and grub hub I have since only used it about 4 times these services and we are in March … I realized I was wasting houndred a a month on app purchases

I did a low spend/no spend year in 2019. It changed my life. Amazing experience.

And unfortunately, it might only get worse, which is why I encourage anyone in this situation to start making moves sooner rather than later. The good news is there are so many ways to make extra money (even from home) that don't take up too much time.

Yes! The freezer and pantry clean out is going to be my next challenge too.

There is an old cooking instructional tv show that taught me how to cook chinese food. It's called Wok With Yan it's on youtube!

Look up Yeung Man Cooking here on YT. He has great videos and I purchased 2 of his 3 cookbooks.

Glad you liked it!

Hope you enjoyed it!

You're welcome 😊

Glad it was helpful!

My pleasure

Thanks for watching!

Yep, it's all about balance. I think people use "I deserve it" as an excuse to overspend, not realizing they're only hurting themselves in the long run.

Thank you so much!!

You are so welcome!

You're so welcome!

My pleasure!

The less you have, the more important to manage it correctly. Then you’ll have good habits when you earn more. Lots of people with high incomes are in debt.

@@genxx2724 oh absolutely. I'm so frugal. I have a friend with no mortgage who earns more than me who always asks me to lend him money!!!! I've always been very frugal. I have never had debt and I'm currently in credit with my gas and electric payments even in this current crisis when prices have rocketed! Even on my low income I live beneath my means to always have an emergency fund x

Put $5 in dimes away every month. It helps. This is the way I started my savings program years ago.

Thanks so much! 😊

Thank you!!

Glad you enjoyed it

Thank you!

Stop using credit cards! I’m doing this starting this pay period.

@@seanjean9677 It will be so freeing. You’ll wonder why you didn’t stop sooner.

Choosing the right partner is the lost important step.. I doubt your partner cares .. glad your getting rid of that person

@@helena3631 Agree,choosing the right partner is extremely important. Unfortunately I didn’t know what a narcissist was when I married so I’ve wasted decades with him because I had an “opposites attract” mentality. Glad I’m getting out now. Take care❤️

You're welcome! So happy that the videos have been helpful!

You're so welcome!

Glad you liked it!!

I'm glad it was helpful!

If you change these habits, you will be able to save some money and not have to work so much, and still help to feed others.

@@l.elizabethb.361 I am finally learning to budget and I have been failing tremendously. The most hilarious part is that a big part of my main job is analyzing numbers. I feel like I need a partial refund from my college or student loan. I am a second generation American so I have tons of family members that need help. I don’t want to give the impression that I am this charitable lady. I am excited to learn new skills and start a new financial journey.

It can be hard to say no to others, especially family members. However, prioritizing your financial health might help you get ahead. Also, strike a balance….Only give what you can afford, and let them know this is the best you can do without hurting yourself.

It's really hard with kids, but depending on their age, maybe bring them in to the budgeting? Gives them financial knowledge and shows them you aren't just saying no to be mean, but because you have goals.

Some 16 year olds can be employed. Maybe a summer job where they can learn some real world skills? And have them put 10-20% of the earnings in a roth401K or savings account.

3/17/23...WHY don't they each get a part-time job? Babysitting...gardening... helping an older neighbor dust/mop/clean house...teach computer 🖥 training to older neighbor...

So sad that this is reality for working people in the richest country in the world.

This is the most accurate.. good money management is key sadly the government doesn’t have it and a majority of Americans no matter what they make don’t have it either

It's a struggle for sure, which is why I encourage anyone in this situation to start making moves and taking mini steps to gradually get ahead. The sad reality is that things will continue to get more expensive, but the good news is that there are so many ways to make extra money nowadays that don't take up a lot of time. For example, I also have a few freelance writing clients, it take me about 2 hours on average to complete an assignment and I average $100 an hour.