5 Ways To Save An Extra $100 | The 3-Minute Guide

How to make an extra $100 per month video:

Learn more about the cash diet:

Planet Money episode about Sou-Sou clubs:

Everything You Ever Wanted To Know About Those Sou-Sou Savings Clubs African And Caribbean Women Love

How to negotiate:

The Financial Diet site:

[wandav]

As a student in Germany, refunding someone else's bottles would literally be considered theft in a student dorm. However when you're drinking outside you'll leave them next to public trashcans for homeless people. 😂

[unleashingpotential-psycho]

I think postponing buying a new cell phone every year helps save a lot of money.

[Katiedora]

I've been doing my online shopping in batches for a while, and it has definitely slowed down some impulse purchases, but I like the trick with the $5 savings! I'm enrolled in one of those extra change programs at my bank, so every time I use my debit card, it rounds up to the next dollar and puts it in my savings, and it has been a good thing over the past couple years. But I've been thinking of moving to more cash purchases for a while, and I think having that specific savings plan will be a great benefit.

[TaviaPinnock]

In Jamaica, we call "Sou-Sou Clubs" Partner Draws. Yes, you certainly must ensure the persons are reliable. Partner draws have been very useful to many Jamaicans to purchase large household appliances such as stoves, refrigerators and many other big ticket items such as trips and emergency funds

[Kirarachu]

My husband and I will empty our pockets of coins at the end of the day and put it in a box. When the box is full, we take it to the bank and deposit it. It saves on the tediousness of using coins and the heaviness aspect too when out and about. It's always nice to find every couple of months that we have a $100 or more injection into our account which we usually use to buy something we need, like a thick winter jacket for my husband so he could ride to work, or towards food eaten out on a small holiday.

[jillswan]

I've started to think about savings as money I'm rewarding my future self with, rather than as money I'm taking away to punish present me. This little mind shift has made all the difference in my ability to pay off debt, build an emergency fund, and save up for important purchases. I would love to see a guide on how to rebuild crappy credit, as that's the stage I'm in. I've paid off $12, 000 (a lot of which was in default). But I have no idea where to start in terms of getting my low-400s score up to where I'd be able to get a mortgage or get loans for the small business I'm trying to build.

[stevensteven]

I do the $5 savings thing as well. I use it for my “emergency cash fund” I think it’s important to keep some cash in the house for emergencies. You truly will be surprised how quickly you have a few hundred bucks saved up.

[Miyankochan]

You guys are my money course which I never had in school. Trying to make up for the lost years. Thanks :)

[iceicetou]

Sou sou clubs in my culture is usually for women by women as a way to help each other. It's usually done with friends or family members. No random people.

[ReimuandCirno]

I'm not sure I understand the point of sou-sou clubs. You're breaking even with money, but it just takes a lot longer to get it and you're exposing yourself to extra risk. You're better off just immediately contributing the money straight into a savings account.

[anydae]

I love that you mentioned sou-sou clubs especially since I'm from the Caribbean, specifically Trinidad and Tobago!!!

[dawnhapgood]

Takeaways, coffee and fast fashion are the easiest way to spend loads without realising. I now only allow myself 1 clothes purchase a month, make my own meals and coffee aside from maybe a takeaway sandwich /pasty at the weekend:) it’s made such a difference, now I can afford to treat my partner for his birthday without losing my mind lol. Thanks for the great advice.

[gabi_bird]

Hey, guys! I was wondering if y'all might do a video on saving money in the wintertime. It's already snowing here in Colorado and I'm a new homeowner! I'd like some tips on staying frugal while it's cold. Cheers!

[pitaariel]

In México we call TANDAS to the sou-sou clubs. Is very efficient if the people who participate is trustworthy.

[cherryblossomings]

Great tips! Although I must share... A distant relative of mine was involved in a very elaborate and suspicious Vietnamese sou sou (called "hui") that had many members. The money pool would be in the tens of thousands, and the whole thing was a mess. My relative was pretty irresponsible and didn't pay in time—people from the pool hired menacing people to stalk my home and threatened my parents at their workplaces with punishments until my relative paid, even though we had nothing to do with it. I'll try to stay away from these kinds of money pool situations in my life...

[meladc]

1. Save your $5 bills - 0:20
2. Ditch one habitual purchase for 30 days - 1:04
3. Batch your online purchases - 1:35
4. Sou-sou clubs (informal savings clubs) - 2:05
5. Collect bottles and cans to take back for refunds - 2:44

[VijethaSN]

It's called "kitty" in India, the sou club. Usually a bunch of housewives or aunties and cousins do it. I have been part of one with my cousins and aunts and we meet monthly for brunch and draw out the kitty. It also doubles up as a reunion since whoever wants to come from the family are invited. Good video.

[MarkandMarie]

Being a waitress in my early 20's definitely helped me develop the $5 stash tip. You can accidentally spend tips so quickly and have nothing left for bills when you paychecks come in. X_x

[phyycxis]

The sou sou club thing is has been a thing for a really long time in my country too... Women especially, get together at that week’s host’s house to catch up on the gossip/news and chat in addition to helping their home budget. One aspect of those meeting is food. The moms almost get into a competition of who can cook better/come up with a creative recipe when they meet. The best part for us kids 😁

[lilliann]

Sou-sou clubs! 😂In Kenya we call them chamas ( swahili for group or party of people). Great tips!