Today's video is about How To Save Your First $1000 On Any Income Fast.
If you're watching this, let's be honest, saving money is probably not a strength of yours. But that's ok. You are not alone.
Nearly 60% of people don't have enough saved to cover a $1000 emergency. This means most people have to put the cost of an emergency on a credit card, which is obviously not the way to go.
Thankfully, you came across this video where I go over a few tips to help you save money and hopefully your first $1000. So make sure to watch til the very end to get yourself on the right track and begin to change your financial future.
My 6 Steps to Save Your First $1000 Fast:
1. Live Below Your Means
- Create a Budget
- Minimize all expenses (Housing, Utilities, Food/Groceries, Transportation, Entertainment)
2. Limit Subscription Services
- Include: netflix, hulu, amazon prime, disney +, etc.
- Pick a top 5 that you use or watch the most
- Limit to a max of $100/month total
3. Stop Using Credit
- Only buy what you need
- Do not impulse buy(24 Hour Delay)
- Have Self Control
- Payoff debt without adding more
4. Stop Bad Habits
- Includes: smoking, weed, coffee, wine, alcohol and other unhealthy habits
- Most bad habits decrease life span or deteriorates health
5. Look At The Present and Future Costs
- Think about how many hours it would take to pay for unnecessary spending
- Think about how much this would cost you in the future if you invested the money
- Investment Calculator: [ Ссылка ]
6. Increase Your Income
- If you have all the other steps handled
- Includes: getting degrees, masters, promotions, raises, overtime, starting a side hustle, getting a second or third job
- Use the extra cash to save and put towards debt, retirement or other investments
Let me know what you are going to sacrifice now to reach your financial goals in the comments??
Thanks for watching. If you enjoyed this video and learned a little bit of something, make sure you LIKE this video, SUBSCRIBE and hit the NOTIFICATION BELL so you never miss a video that could save your life.
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Til next time. I'll see ya in the next video...
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Hey! Welcome to the channel.
My name is Vince Hollerman and I have a passion for personal finance(money), business, and self development(mindset).
This channel is all about helping you learn more about money and how to win the money game. I'm teaching concepts, ideas and methods that may seem like common sense but may not be common knowledge.
This channel is for those who want to take control of their finances and live a life of abundance.
If that sounds like you, then you're at the right place.
It's time to #StopPlaying and #GetYourMoneyRight!
Make sure you subscribe and hit the notification bell so you don't miss any new life saving content!
I'll see ya in the next video...
DISCLAIMER: I am not a financial advisor. The concepts, ideas and methods used in this video are my personal opinions based on my experience. They are for educational purposes only. You (and only you) are responsible for the financial decisions you make.
Some of the links on this page are affiliate links, meaning I may earn a commission at no additional cost to you. Affiliate commissions help fund videos like this one.
