3 actionable ways to live below your means // Tips to save money

How to live with less money - actionable and simple steps to take for a frugal life without sacrificing the things that you love!

00:35 - 1. Adjust your money mindset
1:55 - More stuff isn't the answer
2:30 - Compulsive spending
3:12 - 2. Make a plan and stick with it
4:01 - Creating a budget for 2024
5:49 - Go for change, not performative crash budgeting
7:00 - Consider your "why"
7:37 - 3. Seek out best value always

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I’m not a licensed financial adviser. These videos are intended for educational purposes only. No official financial advice is being given. Please always check with a licensed professional before making any investments or financial decisions. Your investments are your sole responsibility, and in these videos, I merely share my own opinions with no guarantee of gain or losses.

[dipaknadkarni]

Bottom line: stay out of debt.
Have an initial emergency fund (1K).
Do not buy on impulse.
Most people who seem to be rich are probably maxed out on CC, etc.

[avinashbowers]

Present day economy makes living below your means impossible but it is still very feasible. Money is just a tool, use it to create the life you want

[bonniegaither]

I live below my means.
I’m sitting in my cold, dark house, using my iPad, heating up my leftover instant coffee in a microwave and STILL, my power bill is close $500/month

[thekitchenscrap]

Great video, great advice :) Such an important point, being content with what you already have. It also helps you to stay present in the moment, in gratitude. I am thankful each day that I have a roof over my head, clean hot or cold water when I need it, lights come on when I choose and I have access to healthy ingredients to cook with - this is a blessed life!

[rickyandtheothers]

Being content with what you have! Best line ever 🎉 good video

[jonnaborosky]

I lik😢 this video. I am one who lives no-spend years. The 1st two years, I couldn't stick to it beyond October. The next year, I started out with a list of things I needed, like a small Dutch oven, a flashlight, etc. I gave myself the flexibility to get the items on the list if I found them at good prices... and I did. I found a small, light weight Dutch oven at Aldi's for only $19. Over the course of the year, I made purchases that added up to about $200. Every purchase was well under the $19 spent on the pot. Another example is that a doctor's appointment was delayed over lunch, so I got a $6 sandwich. That's something I would normally never do, but it was an unplanned event, so I gave myself the flexibility to spend that $6. And then continued on without spending for the rest of the year. I saved boat loads of money... and time. I didn't have to spend time thinking about whether or not to buy this, that or the other, because if it wasn't on my list, I wasn't buying it, so there was no need to ponder it.
I live on Social Security Disability Income, which is very low...but I'm very thankful for it. At the beginning of 2023, when there was a large COLA increase (cost of living assessment), my income went up $200 a month. Then, I realized that extra $200 a month knocked me out of qualifying for $600 worth of benefits I was receiving. I started out each month $400 in the hole. By cutting out ALL unnecessary spending, plus keeping all utilities down as low as possible, I was able to come out just a bit into the black each month--not in the red. So, I overcame a $4800 deficit through the year by having my no-spend, with a little flexibility, year. This year I have no list, but by now, I don't want to shop. I don't want to spend on things that look like they'd be useful, but might not be. I'd rather see money in the bank.

[nualanicghearailt]

With videos that say ‘3 ways to xxx’ or ‘5 ways to xxx’ I really appreciate when the video maker gets straight to the point and describes those 3 or 5 ways. I felt there was quite a long intro to this video and I think shorter, snappier is better especially when the title is very action oriented. Hope you don’t mind this feedback

[lovisaricks]

Budgeting challenges are good for evaluating what things you really need and should not be done for long periods of time.

[-Allofus-]

I'm curious: What jobs you do from home? I need a side hustle to help pay debt down.

[catiemyers]

I have two savings accounts. A short term and a long-term. I pay my long term account first. I treat my savings like a bill. I am obligated to my future self. Then i pay all of my bills, and over the course of my pay period take care of the essentials for household i.e. gas, groceries, small unexpected expenses (less than $50). When i get paid again, i transfer all the leftover money from the premises paycheck into my short term savings. Sometimes its $20 that i transfer, sometimes its $150. Usually it's somewhere in the middle. The sole purpose of it is to fund large unexpected costs. I.e. my car suddenly needs something. We've used it to buy plane tickets in the past, and to pay off a small credit card balance.

[stevehartman]

We ate well 2 meal day breakfast n supper.n if we got hungry .al
Ke peanut butter sandwich. We never once ate at a restaurant n always packed food when away for the day. N never stayed at a motel

[missk]

I have started eating one meal a day. It’s saving me a fortune. Highly recommend.

[kmo]

Ive just started my "no spend" month for February. Canceled my subscriptions. Eating leftovers, etc.

[KiranKaurFinance]

Great informative video! Living below your means is so important for building wealth

[tammyburns]

How about the high cost of healthcare? How do you save for unexpected sicknesses? Or do you live where there is government healthcare? I’m not for government healthcare. We need to get back to the doctor patient relationship. But, corporate healthcare has driven up the costs.

[ShawnPatton-rmhv]

I think that so many people don’t have financial goals and just live reactionary day to day.

[Evie]

My biggest expenses are skin care, hair care, perfume products...In the past, when I tried to cut down on them, I ended up with horrible skin problems, bad hair and being smelly, so ended up with no confidence...So, these are the products I really can't do without...So, I'll just have to earn a bigger income, in order to pay for them...:O

[sharonlugone]

It hasn't helped our lives. It feels like someone is always trying to sell us something, usually something we don't need. I live within my means by no longer shopping in search of contentment. I treasure my small apartment, my 7 year old car, my friends, and my boyfriend. I do subscribe to 2 streaming services a month, either Britbox or Acorn, and PBS.

[chinchillin]

Cash stuffing actually works for our family and enjoy doing it too lol

[fueledbymusic]

NUMBER ONE WAY. Don't buy brand new cars, especially trucks and SUVs, STAY AWAY from them!