How To Save $10K In 2024 (6 Money Saving Tips)

all right so today I want to show you how to save $10,000 in 2024 by the end of this video you'll be saving so much money you'll be printing it like POA jome pal so money tip number one take a blank piece of paper fold it in half and then fold it into an l-shape just like this next up you're going to close your eyes visualize the secret and just pray this works you're like what's on the other side though it got printed on both sides next we're going to make the bill worth twice as much by splitting it and uh this bill is for me and of course this bill is for you psych not until you smash the like button I'll wait smells like only fans now the only fans you'll be seeing here are these magic fans which I think is the best social media platform name for magicians only fans which brings me to tip number two don't do it and do this instead to save $10,000 in 2024 really fast so let's get into it hi my name is Andre J hope you're doing well come for the finance and stay for the tip so tip number one is first go get your free money one in 10 Americans today have missing money in fact between 2022 and 2023 over $5.4 billion was returned to the rightful owners now this is 100% free you don't have to sign up to anything all you have to do is go to missingmoney.com type in your first and last name and it will give you a list of all the money that is potentially owed to you by banks credit card companies and so much more I typed in my family name and it blew my mind between myself my mom and my dad were owed roughly $350 if not more between companies like US Bank Sentry Link and others that is just insane I'm going to tell my parents to watch this video right now but chances are they're probably already watching it because they love me and there's more you can get unclaimed money and assets from the treasury direct website and find more resources like undeliverable payments mortgage insurance refunds you might be owed unclaimed money from credit unions and even the US courts from bankruptcies you can go to unclaimed.org to learn more this works if you're in the US and it even works in some Canadian provinces but let me know if you're able to find any free money in the comments down below now tip number two is to get even more free money and the way we're going to do that is by signing you up to a 401k as fast as humanly possible but Andre I heard that the 401K was designed to trick the middle class no that was a Tik Tok video designed by a business Guru so you can spend your hard-earned money buying their Mastermind coaching program now a 401k is an amazing tool that will supercharge your savings to $10,000 much faster because 401ks act like baskets that will shelter you from taxes you pay less and you keep more either earlier or later when you sell your assets and you withdraw now the way to actually get free money is to go ahead and talk to your HR department and say sh they don't know I know this one trick now you ask them what their contribution limit is because most companies will offer some sort of a company match made on behalf of your 401k up to a certain amount that is usually a percentage of your yearly income and according to the latest data the national average is 4 1/2% but it can range anywhere between 3 to 6% so that's where you want to be so for simple math if you make $100,000 per year and you get offered a 5% company match that means you can put up to 5% of your 100K salary so $5,000 at which point your company will also match that same $55,000 and that is free money and you should prioritize these company matches over everything including an especially your children and by children of course I'm referring to your debt because the percent return on paying down your debt is equal to the interest rate of your loan and even if we take something as high as a credit card which has over 30% apy the percent return on getting free money is much higher it's 100% and that's why you should always prioritize getting free money first now the only exception to this rule is if your debt leaves you with nothing in your savings in that case prioritize your debt but just don't forget about free money and always take advantage of it now tip number three is where we start to make some extra money and one of the easiest ways to make extra money is to sell your extra stuff now I sold my soul and all I got was card tricks and I became an influencer on the internet when it comes to Selling Stuff some of my favorite platforms are Craigslist Facebook Marketplace offer up and next door which is a very popular website for homeowners and renters in your specific area you can also make an account and it's 100% free but let's say you don't have a lot of stuff to sell because you became a minimalist and you accidentally sold all of it next door has a section called for sale and free and once you click on that you'll find a t ton of interesting things people are giving away for free like this adorable lost puppy that I hope Finds Its way back to the owner and also this yard sign that says I'm a republican but I wasn't always that way no I have no idea what it says but most of the stuff you're going to find on here is going to be completely junk so we're going to have to sort through it and find the good stuff and a good way to do that is by going to the left side of the screen and clicking free it will show you items that are only free and the stuff that people are giving away ranges anywhere from nice appliances sofas safe these six cement blocks for some reason and Lou well I'm sorry Louie this has this has been hard for both of us this has been a long time coming but most of the stuff on the platform that you're going to find is not going to be extremely valuable but occasionally you'll find that diamond in the rough and all you have to do is just drive there pick it up not get mugged so maybe bring a friend and then just clean it up take nicer photos because no one ever tries and you'll be surprised at how much money you can make especially if you know what looking for pro tip stick to the nicer areas of town which for me are places like Henderson and Summerland and you'll be shocked that some of the stuff that rich people are giving away for free and tip number four once you've maximized getting all your free money and all your free stuff start a side [Music] hustle now before you start a side hustle though just remember that all of them will take a lot of time and a lot of effort and none of them will come easy unless you've got some special talent or some special skill you're going to have to experiment with a lot of them to see which ones you really like doing and none of them will be the getrich quick schemes that you see online and if someone tells you well I make $10,000 a week working from home filling out online surveys that is not a thing they're just trying to sell you something all side hustles take a lot of time a lot of effort a lot of failure and in some cases a lot of your money now the good news is there's a lot of side hustles to pick from nowadays like starting a Etsy Shop Uber door Dash day trading if you want to lose your money fast or if you're like me and you like to lose money slowly practice cestry for 20 years and then someday one day you might get good at it I'm waiting on the good times now but personally one of my favorite side hustles that actually works that I actually pay people for doing for me is Task rabbit for example I've hired several electricians at this point and I've paid them $43 an hour to help me do things that I can't do myself like changing light bulbs but once you've signed up and you've listed your services and you've provided your rate you can start helping people with their daily lives and that includes everything from helping people assemble Furniture mounting things like TVs mirrors and picture frames helping people with moving in and out general cleaning landscaping and backyard work something I just paid someone to do as well home repairs and even painting people's houses and Interiors now some of these tasks take no skill at all and other tasks will need an expert for like sometimes I'll watch the electricians at my house and I'll think man I could have done that so if you have the time try to learn one of the more valuable skills and you'll easily replace a yearly income by getting lazy people like me to pay you money and tip number five now that you got free money you've got free stuff you can make a little extra money by renting out that stuff like your girlfriend only fans is a great no actually I did consider it though I was like you want me to do it I'll do it I'll show it to fine you talk me into it there's lots of different platforms that'll make you money by renting out your stuff some of the more popular ones are places like friends with uh.com and fat llama.com and once you find your area you can see that there's several things for rent like mountain bikes action cameras paddle boards and electric bikes seem to be very popular you can set your hourly and daily rate along with the replacement cost write a short description and you're good to go but before you try this please remember to be very careful because there's a lot of horror stories about people saying that their stuff got stolen so I would only rent the stuff that I would have no problem losing like the stuff that I got for free now arguably the thing that's going to save you the most amount of money fastest is a fancy thing called house hacking which is essentially renting out a portion of your house to someone there's lots of ways to do this whether you're using platforms like verbo and Airbnb or you have a duplex a Triplex or a Boflex now 2024 is also the first year that I personally live without a roommate for the first time since 2013 in roughly 11 years time there may have been one year where I lived alone but in the 10-year time frame I've always rented a portion of my house to someone else either on Airbnb or to a friend and on average I've made about $450 a month even the house that I live in to day for the majority of time that I've owned it I rented out a spare bedroom to a friend for $450 a month now $450 doesn't sound like a lot to most people but invested in the stock market for 10 years making 8% returns is $78,000 and that is money that's in my pocket now but that's not even the crazy part if I leave that $78,000 invested in the stock market and I put in $0 I just let it do its thing 32 years from now when I'm 67 or the full retirement age that money will be worth close to $1 million it's kind of crazy for me to think that I've automatically set myself up to become a millionaire just by renting out a portion of something that I didn't end up using anyway but Andre a million dollars 32 years from now is going to be like $100 and maybe it will be but I'd rather take a million dollar 32 years from now than $0 32 years from now I think the only real scary part about this is I'll be 67 in 32 years time flies and tip number six if you want to save $10,000 instantaneously the only tip you'll ever need is this one all you have to do is spend $400 less that's it by cutting just $400 out of your expenses you will save yourself $110,000 huh and that's because of something called the rule of 4% which is the Golden Rule of retirement the way it works is if you want to make $400 in passive income you will need $110,000 in invested working for you in your ston portfolio paying 4% per year to make that same $400 so just by cutting $400 out of your expenses you've saved yourself $10,000 true story in 2017 before I launched this YouTube channel I wanted to do YouTube but I didn't have the courage to ever launch it and I filmed a couple videos for a channel that I was going to call Frugal lenial combining Frugal and Millennials into one talking about the power of cost cutting and saving money and one of the First videos that I filmed for that channel was my girlfriend and I going to the 99 cent store and grocery shopping and cooking a delicious meal now I am not exaggerating when I tell you this but back in 2017 we were spending $100 per month on food now I know that's extreme even by those standards back then let alone after all the inflation that's happened since then but that's when I was learning the power of cost cutting saving and compound interest and I realized that cutting expenses was one of the few things that I could control in my life at that moment because I was jobless so let me blow your mind again and show you a different example of how I can save you $250,000 check this out all you really have to do is spend $10,000 less this year than you did the year before so if it cost you $50,000 to be you divided by that same 4% rule of retirement gives me $1.25 million that's how much I need invested working for me at 4% to make that 50k a year but if I lower my spending from 50 down to 40,000 a year divided by that same 4% rule of retirement will give me $1 million that is a difference of $250,000 and that really shows us the power of saving and compound interest and how just cutting a little bit of expenses will make a huge difference 250k Less in your ston portfolio and tip number is to smash the like button and subscribe so I can continue making these silly videos that I have way too much fun making also don't forget to check out my podcast called don't sweat it I recently got to sit down and talk with Jim Cummings who's the man who voiced our childhood come for the finance stay for the magic he's a flying talking talking for all right that's it I'm out of here Pokemon show us the hook give us the hook we want the hook smash the like button or tasket mad and as always I hope you have a wonderful rest of your day don't forget to grab your free stocks links are down below and then go track them automatically with a spreadsheet linked Down Below in my patreon thank you so much for watching I'd love to see you back here on Monday and Friday sometimes a Wednesday I'll see you soon bye-bye

Channel: Andrei Jikh

Views: 118,223

Keywords: how to invest, bitcoin, million, ethereum, market crash, crypto, stock market, passive income, dividend investing, dividends, dividend stocks, crypto crash, stock market crash, bitcoin crash, NFT, how to buy bitcoin, cryptocurrency, robinhood app, best trading app, stocks, investing, investing for beginners, how to invest in real estate, how to invest in stocks, best stock trading app, credit score, andrei jikh, best investment, dogecoin, robinhood, portfolio, millionaire, recession

Id: AwEvMxxRIy8

Length: 13min 14sec (794 seconds)

Published: Mon Apr 29 2024