How we saved $50,000 in 12 months

Shh listen I don't know what this is but just listen let me share with you what not to do when trying to save some money do not skimp on the air take it from me friend my light bill doubled so I had this bright idea to shut off the air in Dallas in the middle of the song when people get hot they become aggressive and let's just say that wasn't a good look hey guys welcome back to my channel so today I'm going to share with you how we saved fifty thousand dollars in twelve months yes you see it in the title that's what we're talking about today so if you want to hear how we did it then stay tuned before I share with you what I did to save money let me give you the backstory so when my husband and I first got married we decided we wanted to embark on this financial independence thing right I was high I had checked out a Dave Ramsey I was like yes I can do this so boom let's jump into it okay I bet you like what girl listen listen it's my favorite word so if you hear it a hundred times hey I'm warning you now count them up tell me how many times I said it in the in in the comments section okay so when my husband and I first got married we wanted to become financially independent yeah scratch okay so we didn't want to become financially independent I wanted to be financially independent so I had to kind of like reel him in and get him on the bandwagon and kind of drag him along with me okay he wasn't a willing participant now he was all for let's get out of debt but all of the extra stuff you again I don't know I said all that to say so it took us two years to pay off about thirty two thousand dollars now that included student loans that included car notes credit cards all of that also to put some stuff into perspective for you my husband's a spender he's a giver now then you me I am what you want to call a occasional splurge err spender listen so we're not just these savers by nature like this is a this is practice this is years in the works of trying to get here okay so here we go here's how we saved fifty thousand dollars so like I told you we're debt-free first right two people two incomes living off of one saving the other the first step and us being able to save this money was to create a budget I know everybody talks about a budget ah it helps it is a game-changer at least it was for us because we needed to know exactly where our money was going the subscription based services we're killing us ten dollars here twenty dollars there thirteen dollars let me tell you that money adds up each month so we had to figure out where our money was going so that took for us to write down all of our expenses to know exactly where all of our money was going I mean all the way down to manicure pedicure honey a little weave action we had to include it off with the budget once we did that then we had to go back over our budget with a fine-tooth comb just to see what things can we do without did I need to really get my nails done every two weeks well no I can kind of stretch it out a month right let's go with some neutral color so as it grows out you can't tell maybe that means I can't go and get my hair done every month like I originally was doing so now I have to go and try to create and make my own wigs and things but seriously these are the type of things that we had to sit down and talk about in order to find ways to scale back and save money then also included cutting back on eating out that included how we can save money on our grocery bill that means we can't afford all of the the name-brand items maybe with me we have to go and get great value stuff you know now listen the change you can't skip on maybe it's just me but it's just certain things to know you don't skip on right you don't skip on your air and you don't skip on the cheese cheese okay let me get back on topic so you have a budget the second thing is to go through your budget with the fine-tooth comb once we went over our budget with the fine-tooth comb it allowed us to see how much we could potentially save once we came up with that number and I'll let you know it was $40,000 my husband is a little bit more conservative so he's like no let's play it safe if anything happens at least we have a cushion me I'm all-in I look on paper I can see that we can save fifty thousand dollars so that's what we're going to say we just had to scale all the way back and our income increased our standard of living did not increase with that that's another way that we were able to increase our saving next we made sure that we were paying ourselves first now they didn't come before our timing right I believe I'm wholeheartedly committed and believe in tithing and giving first so that's what we did we paid our ties then we paid ourselves which is your savings after we did that we paid all of our bills after we've done all of that there's no money left in the budget because I budget to the penny okay nothing not a gold child gone take this money I'll put it in his own account in a bank by itself with no debit card nor ATM none of that it is on its own island by itself just living life and the reason that I do this is because I want to make sure that I'm eliminating the temptation of me going over there and kind of you know taking twenty dollars here thirty dollars there that's what I have to do to maintain control that is how we were able to save fifty thousand dollars in 12 months I hope this video for you was helpful I hope you took some tips and tricks look not skipping on the air right so you have to find ways to cut back but you have to make sure that you're doing it in a way that fits your lifestyle because what works for me may not necessarily work for you so you take what applies and what and hey you toss it to the winds as always thank you for tuning into my channel I hope you took something from this video I love you and God bless bye

Channel: Keeks Diary

Views: 18,049

Keywords: How we saved, how to save, financial journey, Dave Ramsey, budgeting

Id: l9obOrMW3l8

Length: 6min 41sec (401 seconds)

Published: Wed Jan 29 2020