Why EVERYTHING Changes Once You Save Your First 10k!

Find out why everything changes once you hit your first 10k savings milestone. Learn how reaching this goal can reduce stress, increase financial freedom, and prove you are capable of saving money. We always hear about how people are trying to become a millionaire. Start with your first $10,000!

How to Create Your First Budget

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#frugalliving #savingmoney

[Midwestmomvolunteer]

This is such a spot on video. When you stop having to panic that something will happen it frees you in ways you would not imagine. Excellent topic and for those of you who are still trying to get there, keep going, every dollar saved gets you closer to a new level of "I got this".

[Joy-nlhb]

I literally followed the 27. 40 Kate Method. Every day of 2023, I transfered $27. 40 from checking into savings. Boy, does that make you think about your spending!!! I would think - nope, don't need that $25 top - gotta do my transfer. Etc, etc. Thank you for that old video, and thanks again for this one. I'm going to do it again in 2025!!!

[bethanyg]

I did this for the first time as a teen working part-time, living with my parents (obviously) and getting my bank account ready for college tuition. I remember a friend looked at my checking account in college and was shocked.

[lizs]

April 2024 was the first time we saved 10k. And let me tell you my sleep has improved 😂 we are now finishing paying off all our debt only 8k left on the truck 👏 then saving a 6-12 month emergency fund. We’ve had a few setbacks in our goals house and car repairs but the 10k buffer made what would have been a financial nightmare just a setback.

[kerstinshadow]

I saved without purpose, which is not good, looking back. But when I saw the 10.000 Euro on my account, I thought: This must be somebody's else account. I couldn't believe I achieved a five digit figure.
And it was such a relief. As you said, you can cover 99% of emergencies with this amount. Even buy a used car.

[txpaws]

I saved my first $10k last year. Put it in a high yield savings account at a credit union. Love checking in every month to see the interest helping it grow🎉

[alycer.]

Babysteps haven't saved $10 000 YET but I did finish the 100 envelope challenge which gave me a little over $5000

It wasn't easy-no joke but I did it-it started out w wanting a new couch ended up just being a buffer goal the start of a 6-9 month emergency fund

[marydawkins]

Haven't done it yet . Got $4328 saved so far because I'm also paying off debt!!

[bthomas]

Happy Frugal Friday Kate. I am so close to my first $10K.

[gretelwhite]

It is a good feeling when you hit a significant amount in the bank! Taking the worry out of finances is certainly worth working for. For years I eeked out an existance, no debt apart from the mortgage, but everything on a shoestring, which was stressful, particularly with temporary contracts at work.

[cemiadayongnan]

For me is $12, 000…. That $12k gave me the courage to quit my job I disklike for 18 long years. I stayed that long feeling like there’s a chain on my neck because I was scared. Single Mom with so much debt and no
emergency fund can make you settle for less. Being debt free and having that $12k gave me the security to take a break, travel a bit and think about How do I want my life to look like moving forward from here. It took me 12 months for the right offer to come but that 12 months of waiting was the happiest I have ever been. So whatever you have to do to get that security, do it. Cheers to all and thank you Kate, you are an inspiration to many. God bless you.

[RawHebrewRemnant]

I have taught all my 4 children and 2 grandchildren this 10K concept. I first learned it from my dad (RIP). My 20 year old grandson has now saved way above $10K and it has changed him completely and set him up for the rest of his life. Same is true for my youngest son and oldest daughter (who got married to a man with the same mindset). My oldest boy is still fighting with himself, but I am praying that one day he gets it. My baby girl is slowing working towards her 10K and I am very confident that she will get there. Its a great, great principle even in the face of this crazy capitalist, debt-driven system we live in. But few understand it.

[KarenConnor-gt]

I did that and some when my two sons were children. I was also paying a mortgage at the time. Now I am lucky to be debt free and self funded, but still need to budget fiercely to protect my investment and live comfortably. Being frugal, in my opinion, is the pathway to a happier future 😊

[MoneyMindsetCoach]

I have that and more but my anxiety is having to spend it amd then replace it. My financial picture is changing in April next year ( alimony going away) so i am saving as much as possible right now😊

[StrawberryFields-]

It's taken me so many years to save my first 10k, but I'm finally here! The process taught me a great deal about needs vs wants, shown me how good it feels to implement strategies that work, and I am not so quick to just 'buy' things. Now what felt like an impossibly high ceiling for many years, has become my new floor! And I can't wait to save the next 10 and beyond. Thanks for another great video Kate!

[rkw]

I sure do agree that once you start saving your mind just switches
Go go go

[daniellem]

You are so right! The first10K for me was years go after taking a Dave Ramsey FPU class. It took time and discipline but was worth the effort to have that cushion in the bank! Great encouraging video!

[karakol]

Saving becomes addictive after 10, 000k. I saved up over six figures for a condo down-payment. Now I am overpaying on my mortgage and it feels great!

[michellesouthworth]

I did it plus some, so when I needed to replace my car, I was able pay cash for my new to me car, and since it was already a habit, I have continued to sock the money away.

[BackroadMoney]

The first time I hit 10k it was part of my emergency fund. It really does change everything. It's definitely a psychology thing. Great video girl!