7 Money Habits That Keep You POOR

[@littlemissmurphy117]

Overview 1. Not being fully informed of your total financial situation. 2. Not being aware of the current economy. 3. Being okay with being in debt and paying interest. 4. Only having 1 stream of income. 5. Not prioritizing saving or not having an emergency fund. 6. Spending beyond your means. 7. Not investing or preparing for your future.

[@stevelumpkin2119]

nailed it !

[@courtneyjones9621]

I've been waiting to write this comment under one of your videos for a long while - I am debt-free today! Watching your journey kept me encouraged over these last few years. I remember seeking out a lower-income personal finance youtuber that was in the same boat as me. Seeing you thrive has helped keep me focused! Thanks for all that you do! Keep up the good work!

[@hayleyshepherd4899]

Well done to you, Courtney! 👏

[@courtneyjones9621]

@@hayleyshepherd4899 Thanks, Hayley!

[@StephanieJoRountree]

I think an emergency fund should also include food insurance - in other words, buy extra food every time you shop. The cost of food is only increasing. Work your way up to a year's worth and simply rotate your stock. Think about the recent disaster in TX and folks standing in lines in the freezing cold to find virtually nothing on the shelves. Also water storage is important as is an alternative way to cook your food and heat your home. You won't regret it.

[@joannapatterson4625]

Yes. You should have enough staples for at least one month.

[@TipTipush]

What do you eat that is still good after a year on storage???

[@StephanieJoRountree]

@@TipTipush Most canned goods have a 1 to 2 year "use by" date. They are all rotated, so you never are eating expired food. Keep in a cool dark place.

[@user-dv8bs7tb5c]

If anything so bad ever happens where people are out of food for anywhere near a year, it would be an apocalyptic situation...and in movies usually you'd have to be nomadic at that point...staying put with a food hoard would definitely attract people and theft and problems. I definitely agree this could feel like a safety net, but in reality if something that bad happens, I think you'd have to leave with what you can carry....it would go to waste. A month tops of extra is more than enough I think

[@helenlebel6948]

@@TipTipush dried grains, beans and rice will keep if stored in secure containers in a cool dry place. I keep an emergency stock (dated) and rotate. Keeping an extra stock of basics gives me peace of mind too!

[@granitemoss1451]

"No one else is going to watch out for our money on our behalf." YES! Look after your money or wonder where it went!

[@IsisOya]

"It's incredibly expensive to be poor." Impressive quote 👏🏾

[@ivsportiv]

I am from Europe and grew up in a culture where having debt wasn’t considered normal. But recently I see a shift in this especially with younger generation. Raising three kids ourselves we still live by the most important rule: if you don’t have the money, you can’t buy it. We don’t have a creditcard and we can’t overdraw. The only debt we have is a mortgage and we are on a journey to lower that debt as much as possible and invest for your future. Your channel helps a lot with this! Love from the Netherlands🇳🇱

[@christineloggie4785]

'Money's greatest power is giving you options' AMEN TO THAT - SO TRUE!

[@jamesstinson546]

I’m amazed when I hear about people with well paying jobs going to payday loan places. Living without non mortgage debt is freedom.

[@koreypaul6698]

I work in a hospital with a lot of people who make more money than me. It blows my mind that people make twice as much as me but are living paycheck to paycheck...

[@brianparent4882]

I had a manager who ate out every day, smoked, and drank 2 Dunkin Donuts coffees everyday. She complained that she did not make enough. I told her she did make enough but was not managing what she made correctly. We sat down and did a mock budget and removed those three things. She doing that she was spending $530 a month on these three things. I told her that it was enough to fund a Roth IRA. I felt she had learned the lesson but she continued complaining about her situation.

[@cg1868]

Your honesty is refreshing.

[@bessieoriotis5104]

Many of us have made all those mistakes and are starting from emergency funds. You are not scaring us, you are telling the truth. When we know what is going on, we can do something. Better late than never. We have to start. We can't take it with us when we go, but we need to support ourselves.

[@poodlegirl55]

Great video. Truth be told many people don't want to know what they owe. I'd like to add that as a senior citizen having multiple streams of income even when you are no longer working is a great thing to plan for. You can't just count on social security, we have had dividend paying stocks, IRAs, pensions, rental house etc. Don't put all your eggs in one basket as they say.

[@seekingserenitydaily]

This WAS a little bit frightening but I'm at the beginning of my debt journey and need to hear the "cold, hard truth" every day! Signed up for morning brew and I've chosen "awareness" as my word of the year and I've begun with becoming aware of my financial situation. Thanks for the tips and the "truth!"

[@LydiannaBella]

If you surround yourself with people that have the same goals as you, it becomes easier. Mind like people help you becoming a better person in the long run.

[@LydiannaBella]

@@moneytalk.1364 that so doesn’t sound like you. Looks like you have been hacked

[@LifewithAmber24]

I stopped following DR because his advice was so restrictive I kept falling into some binge spending traps due to all the restriction. I will credit his advice to do the debt snowball payoff method first especially if you're a spender. That's what initially helped me with my overspending and helped me learn how to spend more mindfully. Great video and thanks for sharing!2😁

[@Happy_life117]

Eating out and buying coffee rather than cooking at home and using a reusable coffee mug to take on the go....it’s surprising how much people spend on eating out and convenience foods.

[@LadyCatherine538]

My birthday lunch yesterday? Chipotle take out for two, (leftovers for dinner). Why be a financial goofball? Joy can be found in frugal ways of celebrating!

[@jazziered142]

I still allow myself to go out to eat, but it's once a week. I never drive through starbucks. Once in awhile I'll go buy a black coffee at starbucks, and sit a while and watch people. (When you could do that.) But I consider that entertainment money. I really miss that.

[@daftoptimist]

I’m trying to treat dining out as a treat, something I do 1x week maximum, not as something to fill in the gaps where I didn’t plan or was too tired.

[@nnettie822]

Thank you, I like your approach and have appreciated your videos. Unfortunately I learned yesterday that the furniture I bought on time is now double the cost as I missed paying it off in 90 days. Something to be aware of that it was more of a rent to own. I am now scurrying to pay off the next set that is due in less than two months.

[@2fixmj563]

That overdraft story is so sad. I still feel bad for you even if it was far far ago. Once, I had budgeted to the tee. Well, so I thought. I thought the library was still forgiving late fees. They had changed their policy and I yelled at the librarian. My daughter is still traumatized and it happened 20 years ago. Broke sucks. Remember.

[@gbb82]

The way you explained this was very simple and to the point....I especially took note of your comment about needing multiple income streams.

[@PSUhockeygirl]

oh, here's past me doing most of those things WOMP WOMP. Current me is determined to do better! I'm excited for Morning Brew! Thanks for the great tips.

[@cherieluschkapaesch6285]

Yes tell me about it. I'm in that situation at this moment. Will look for side job beside mine regular work, to have a little bit moore income. So I can work on line. Thank you so much.

[@marymartin6977]

I LOVE Morning Brew! The puzzles are fun, too!

[@joyb6148]

Awesome video! Clear, concise, and encouraging! Well done. Thank you.

[@michellesun-forbes30under38]

"The only difference between a RICH person and a POOR person is how they use their time." ~ Robert Kiyosaki Love your reminder on planning for the future💪🏻🌟

[@kevinjarchow8812]

Financially independent people put themselves in the situation where they don't pay poverty taxes. Poverty taxes are: Overdraft fees, ATM fees, check cashing fees (for being unbanked), excessive tips (because they eat out more than in,) late fees, interest on debt or worse...interest on unpaid federal, state and local taxes. And there are far more.

[@kevinjarchow8812]

@@moneytalk.1364 He's only registered in CO and FL. Neither one of those is my state.

[@BrittanyFlammer]

I agree with all of these!! Thanks!!

[@mamasgotmoxy2914]

Great info. Thank you.

[@corireeves32]

Terrifying yes, but so honest and you have such great real life tips, that make everything sound like we can do it! Thank you! We should be also be teaching our children about money and the habit of saving. Thank you Sarah!

[@BudgetGirl]

You are so welcome!

[@oglingling]

Thanks Budget Girl!

[@jacquelinehing7424]

You’re truly inspirational, transparent and motivational. Thanks for being so honest and smart. Hope you get the 100k subscriber soon.

[@amyadamson283]

New to finding you. You are so encouraging and have enjoyed going back and watching your journey.

[@BudgetGirl]

I'm so glad!

[@fortheloveofLDS]

Another bad habit I see a lot is perpetuating negative stereotypes, like any time a KZbinr or Instagrammer gives advice about retirement, inevitably someone comments "I'm a millennial so I'll just be working until I die." If you stopped joking around and actually implemented the advice, you wouldn't have to! Yes, there are a lot of systemic barriers nowadays, but continuing to play out narratives like the "poor grad student" or the "starving artist" or the "teacher who doesn't do it for the money" will only keep those realities alive forever.

[@KittyKat-vb1nd]

American's are conditioned/trained to live on credit, live beyond means as normal. I have immigrant patents and the only people I see do this are native born Americans. It is shocking how bad people are here with money.

[@rochellethundercloud346]

Bad money habits 1.not paying bills 2.living well above your means 3.buy things to try keeping up with influencers/the joneses. 4.fast fashion 5.lotto tickets 6.messed up priorities 7.starbucks multiple times every day 8.not hiring a lisenced contractoe/handyman when necessary 9.ignoring home,vehicle,or health situations. 10. Having to have huge,elaborate paeties,prom,weddings. 11.buying far more than is necessary.we saw this at the start of this pandemic with toilet paper

[@michellemorales401]

Very encouraging and inspirational. I still have a long way to go with habits.

[@maddywadsworth4312]

Man the one stream of income thing is sadly true. After being a stay-at-home mom for 4 years after having our daughter, we had SO much debt. It was because our one income wasn’t enough and we were using credit cards for gifts, entertainment, etc. After I got a work from home position, our financial situation has greatly improved, but the stress 📈

[@cherievallee646]

I get the investment aspect

[@jordanmakesfinancevideos650]

Nice informative video Sarah

[@oliviaknight1123]

I'm so glad I found you, you really are sensible and talk a lot of sense, thank you! I wish, wish, wish I had known what I know now about 20 years ago. Keep up with the good work, I really appreciate you!😊

[@terricarver4873]

Love the video, Sarah! 🌹

[@lauraoverbeekezangeres]

I absolutely love your graph :P Amazing video, thank you so much!

[@valwadsworth3044]

your work! Do you find other streams of income?

[@QuesttoFIRE]

Yesssss girl preach on that investing part!! It doesn’t need to be complicated to be successful. Take heed folks!🙌🏻🔥

[@BudgetGirl]

Become smarter in 5 minutes by signing up for Morning Brew for free today: cen.yt/mbbudgetgirl2

[@pamw1490]

Hello Budget Girl! I love all of your videos! I learn so much! Have you ever done a video on car insurance? I’m looking to lower my insurance but I don’t know which ones are good. Do you have any ideas? I would appreciate your feedback. Thank you!😊

[@BudgetGirl]

Hey pam, i have a hack for you! i recommend a company called gabi that scours the internet for you for the best deal on car insurance and breaks up with your old company for you if they find a better deal. its totally free! I have a link to them here: budgetgirl.com/toolkit/

[@pamw1490]

Thank you so much! 🙏😊

[@pandabossanna]

Morning Brew is great :)

[@swissmissyogini]

Love the money chart! Wohoo! So great to visualize your net worth. I have to start doing that.

[@BudgetGirl]

Please do! its so fun to track! i have a spreadsheet in my etsy shop that makes it easy as well!

[@mizushirokanon9174]

Thx pepper princess for shouting you out, great channel❤️

[@BudgetGirl]

she's awesome! love her!

[@serenitynoworganisingvanco370]

Very encouraging

[@threeicys]

Another great tip for cool months is to make your own soup stock and soup. Freeze in serving sizes. Be sure your stock is made using bone, ( I use chicken bones or turkey), bay leaf, onion with clove stuck in it, carrots, fresh parsley and celery tops. Wholesome- nutritious- money saver!!

[@BudgetGirl]

Great idea!!

[@user-ec5nc5nw7u]

Thank you for your video budget girl. You are really inspiring

[@hollymiller2904]

Love your videos!!

[@Celise]

Do you have a podcast anywhere by chance?

[@BudgetGirl]

Nope! KZbin and social and website is already a little hard to manage!

[@Celise]

@@BudgetGirl Oh I'm sure! Thanks for responding.

[@johnriggs7994]

Hi Sarah. I was wondering if you would be willing to answer a question for me. How much money do you feel that a couple should have in savings when they retire if their house and two vehicles are paid for, they also have 1 year safety net saved up and no credit debt? If you want to travel abroad maybe four trips and also travel a little bit here in the states? Thank you for your help! I love your channel by the way.

[@BudgetGirl]

Hey Kathy, this answer is going to be personal to yall! There are some retirement calculators online that can help you as well, but the general rule for retirement is to be able to pull 4% of your investments annually and live off that. If you already know how much you want to live off each year, that could help you calculate as well. Congrats on your success!

[@johnriggs7994]

@@BudgetGirl Thank you.

[@stellasatterlee7332]

Thank you for the video! I’ve been sharing your channel with friends. I’m also trying to get my girls to listen to you. They are currently Aggies. My husband and I are big Dave Ramsey fans.

[@BudgetGirl]

Awesome! Thank you!

[@marylambros2149]

I wish when I was 20, there were computers & Y-Tub videos like yours. I could have been retiring now. But at least I am not in dept due to keeping track of my spending & saving NOW.

[@deborahjones9999]

Your videos keep getting better and better! Thanks fir your efforts.

[@BudgetGirl]

Glad you like them!

[@loribabb9067]

This question may have been answered in another video but I’m new to your channel and haven’t seen it yet. Is it worth the yearly membership fee to belong to bulk stores? ( Sam’s, Costco, Price Club) P.s. thank you for your channel!!!!

[@BudgetGirl]

that absolutely depends on how much you use it and how much you save! For me, and even me and jacob, it's less money to shop in smaller quantities. But I have friends that either have more family/ kids OR utilize gas savings in a high driving area that have absolutely made the membership worth it for them. Fortunately, these days, most of those places charge about $100 a year and sometimes offer a coupon for that same amount off, so it could be worth it to try it. Don't overbuy on expirables and try to avoid buying just because its a "good deal!"

[@SusanKay313]

LOVE your channel!!!!!

[@BudgetGirl]

Thank you so much!!

[@peted6769]

Thank you !

[@tonyjohansson2967]

Really Good advice 🙂👍 Thank you!

[@BudgetGirl]

My pleasure!

[@5ft3inbeauty]

I’m diligently working towards financial freedom. Thank you!

[@5ft3inbeauty]

​@@moneytalk.1364 SCAM!!! DO NOT LISTEN ANYONE! This is from a FAKE Budget Girl account!!! Click on the profile and you'll see it's NOT her!!

[@5ft3inbeauty]

@@moneytalk.1364 ​ @Budget Girl SCAM!!! DO NOT LISTEN ANYONE! This is from a FAKE Budget Girl account!!! Click on the profile and you'll see it's NOT her!!

[@stevendomenech7405]

You are good.

[@ntebalengsefahamela5851]

wow this is very informative

[@BudgetGirl]

Glad it was helpful!

[@customer5032]

This is one of your best videos so far, in my humble opinion! A few more tips that I am teaching my two teenagers: always buy store-brand groceries, toiletries, and medications where possible, instead of paying for name brands. Avoid the mall, restaurants, and movie theaters (get your clothing, food, and movies cheaper at other places). Go to the public library instead of a bookstore. Exercise outdoors for free, instead of paying for gym fees, studio time, or ice time. Go camping and hiking at a national park instead of taking an expensive vacation. Try to come up with creative ways to do things you enjoy for less money! Then save and invest!

[@BudgetGirl]

thank you!

[@margaretdiscenza795]

Great video. Well said. You are amazing.

[@BudgetGirl]

Thank you so much 🤗

[@andir7854]

come to Jesus money moment- love it!

[@yvonnekearney4545]

Can you recommend a free way to learn excel?

[@dianezabka4090]

youtube lots of techies on here! Library used to have free classes also!

[@yvonnekearney4545]

@@dianezabka4090 thanks!

[@kimsinspiredlife]

Important information 😀

[@BudgetGirl]

Glad you think so!

[@patartimotiustambunan1946]

Not bad advice

[@PhotographtheBird]

I would add to number 7 by saying that getting sound financial advice when moving investments or pulling from certain accounts. I've definitely been bitten by not reading the fine print/consulting an advisor.

[@emmascott1256]

I think this may be the first comment I've ever left on a video but this is what I NEEDED to hear today!! Thank you so much!

[@BudgetGirl]

You are so welcome! and thanks!

[@liliamrodriguez3020]

Great video

[@lauraadaly]

Love this! Also, great nails! ;)

[@imrallmartin6946]

Good video, I thoroughly enjoyed this video. I am currently on the last leg of my debt free journey and cant wait to be free.

[@BudgetGirl]

You got this!

[@Sheila-ru1iu]

🎵🎼🎶 did you ever know that you're my hero...🎤🎵🎶🎸

[@seniafaamausili605]

Amazing video thanks so much for putting this out, very encouraging for being good with our $$$ Love and Blessings from New Zealand ❤️🙏

[@user-dv8bs7tb5c]

That first one i just want to scream at so many people i love

[@michaelholloway1188]

Im a senior with a husband that won't listen to anything i say about money i will always be poor

[@sitterfo]

This might be a too personal question but I’m super curious… are you in your 20s or 30s?

[@BudgetGirl]

I'm 33 right now, been doing since channel since mid-20s

[@RetiredLovingIt]

Great info! We are very budget conscious. New subscribers here 🤗

[@BudgetGirl]

Welcome!!

[@mason114932]

Thank you I enjoy your videos. By the way you have a pretty smile

[@BudgetGirl]

Oh thank you!

[@thefunandadventureactcharl3592]

Your background is awesome. Inspite of the window I can still see you.

[@jazziered142]

I hated being in debt. It is so stressful. I made sure that my debit card will not overdraft me. It'll just decline.

[@BudgetGirl]

I did that shortly after that issue, but it wasn't the default! BIG lesson there! and keep at it, debt is just a sad memory for me now and I LOVE the peace it brought me. you. can. do. it. Jazzie!

[@jazziered142]

@@BudgetGirl I know, it's terrible that it's not the default. I had had my checking account for years before I found that out. I never had any overdrafts, but it's nice to know that I won't accidentally do it because of a math mistake. Banks are sneaky, and they want your money.

[@deanza5034]

Using credit cards is robbing you of future wealth. That hits home. You pay way more for that object than it will ever be worth when you put it on a credit card.

[@Findingariel]

This is what I tell my adult kids: You may not have a lot of money now, but what you do have that I don't have is TIME. Use the TIME you have NOW and not later. A little bit of money over a long period of TIME will make you tons of $$$ so invest it NOW even if it's only a small amount.

[@5ft3inbeauty]

BUDGET GIRL! There's someone in the comments below who replied to my previous comment posing as YOU and promoting their bitcoin business!

[@BudgetGirl]

reported and blocked, thanks! I'm so glad you know I would never try to do anything like that!

[@5ft3inbeauty]

@@BudgetGirl I'm just relieved you saw my message to you (I tried contacting you on EVERY platform, lol) and got them reported. I think they did this to Sarah at the Wholesale Ted channel recently as well. She made a video on it! I knew you'd never send viewers to some shady scam. ;)

[@matthewtaylor2275]

Great content. I don't know who needs to hear this, you've got to stop saving money. Invest most of it if you really want financial freedom.

[@chriswilson908]

Best words i have seen today💯

[@braidenchandler5892]

Invest in BTC, gold , silver buy stocks. Just invest and save yourself.

[@miasimpson5701]

I tell my friends everyday. It's good to save money but you gotta have that investing spirit if you really want to be rich.

[@nathanielgray6221]

@@miasimpson5701 facts!!

[@estherhoward5697]

I mean, i see your point. Some people are willing to invest but do not know how best to go about it.

[@alphpup3281]

You are young and healthy but not taking care of your health can be really expensive as you age.

[@ThomasTries]

You’re so right about multiple streams of income. And the idea that even having some that only bring in a little each month is ok. The key is having options in case of disaster. If you have an income that only brings in a little each month, but lose a job, you can now devote more time to that smaller income stream and tamp it up to help soften the blow of losing the other income. You aren’t starting from scratch like so many people have to do. Great stuff!

[@180daytotalbodymakeover]

Haha leggings. :-D

[@BB-xk9vs]

Stock market is going to crash...You don't hold it.. you don't own it!

[@BudgetGirl]

the stock market has rebounded from every crash that has ever happened. If you're investing in the total stock market in index funds you only lose when you pull out.

[@BB-xk9vs]

@@BudgetGirl We are living in a different time now... I hope you are right, all the best BG..