How I'm Able To Save 50% Of My Income In 2025

[@stephandden]

Happy (almost) 2025! 🥳 Don’t forget to check out Simple Investing here - stephandden.com/investment-course-simple-investing/

[@adamm784]

Great tips! Definitely having a partner helps a lot! The average gross income for a single person in Ontario is 55k CAD. Which is about 40k CAD net. The average single 1 bedroom is about 1800 CAD. Definitely harder with a single income.

[@stephandden]

Thank you 😊 Yes, if you don’t have a partner or a roommate, then rent can be very expensive!

[@dwights1024]

Yep unfortunately you will need to drive till you qualify

[@1212aoa]

I agree! I am in that situation and in the past to help with my savings I worked at another job part time.

[@adamm784]

@@1212aoa It's wild. In Canada if you don't have dual income or having a partner working towards same goals. It's extremely rough.

[@canpin]

Been with you both since you started your YT channel...happy your journey has been going as planned

[@stephandden]

Wow, thank you so much! 😊

[@iftak01]

Let’s go guys! I just like listening to financial videos (as a millionaire) keeps me validated and motivated about wealth/money.. Canada is a tough economy

[@stephandden]

👏🏿👏🏻 thank you!

[@taylorbeach5863]

Thanks!

[@stephandden]

Wow - thank you so much! 🙏🏿🙏🏻

[@oli3.14]

I just found your channel about a month ago but it's already been so helpful. I definitely know what you mean when you say you feel peace and excitement about budgeting! I started (in a very rudimentary way) when I first moved out at 18 and it just made the whole experience of money so much less anxiety inducing. Many of us, my self included, have not been lucky enough to have had good guidance about how to approach money and it's truly life changing to find such well made content on the subject. Grateful to have information that is so directly related to my own situation - I recently moved back to Toronto. I've taken your budget template and mixed it with my own that I made last year... really excited to see how the year plays out! Thanks again & HAPPY NEW YEAR! 🌟

[@stephandden]

We’re so happy to hear that you found our channel and that you find our content helpful! That’s exactly our goal - to explain money topics that no one really talks about (and make them simple!) Happy new year 😊🥳

[@Illution]

I’ve always tried other budget templates but yours truly makes it stress-free. The visual touches were 100% worth it! Thanks for making this available for anyone. This is some underrated value!

[@stephandden]

We’re so happy to hear that! 🙏🏿🙏🏻

[@financewithespi]

I love your end of the year videos it makes me feel so excited to watch and learn from others

[@stephandden]

We love to hear that! Have a great 2025 😊

[@MFTW]

You guys are amazing. While I won't be purchasing your course, I still love what you do ❤

[@stephandden]

Thank you so much 😊

[@Marites.medina]

This is the first year that I’m excited about “My” money. I followed your channel throughout the year and used your budget template and stayed consistent with it. I love the clear picture of what I spent and saved and also loved seeing my debt go bye bye! I can’t wait to use the template again this year. I personalized it and made it more fun with emojis and wanted to do more detailed tracking for this year for myself. Thank you Steph and Dan for all you do! Your channel is amazing ❤❤❤

[@stephandden]

👏🏿👏🏻 that’s so amazing to hear! We’re so happy to hear that you found our content + the budget template helpful, and that you were able to say bye to your debt 😊

[@kansasknott7791]

Thank you so much for being so open with your financial details!!! Makes your videos real :) I wish more people would be open about it :)

[@stephandden]

Of course! Thanks for watching + for your comment 😊

[@MocktailPlease]

I’m preparing to start using the template in 2025. I’ve used monarch this year, and I couldn’t tell you anything about my budget or expenses!! I think this more hands on approach is exactly what I need

[@stephandden]

That’s great to hear! Agreed, that’s why we made it - we’re able to really know exactly what’s going on with our money 😊

[@ginac4153]

Thanks for your budget tracking template, which is fantastic 👏🏼 I used the template to track my spending for 2024 and it made me aware of spending categories and helped me spend more intentionally. Thank you for your useful content!

[@stephandden]

We’re so happy to hear that! Thank you for your comment 😊

[@Jibril_Abdulkadir]

You guys are Always giving great financial information which is key to becoming more successful

[@canpin]

I agree with you 100%, the satisfaction of hitting your target is hard to explain. I explain it to friends and family by saying " i have lots of money now!" 😂😅 and they get it

[@stephandden]

Hahaha, I like that! It’s so true, it’s hard to explain!

[@ludovicusclericus]

Congrats y'all. I like watching how much progress you and your partner are making. Except I gotta shake off the fact that my brother's name is Dennis and my sister's name is Stephanie. Oh yeah, and that Lakers sweater. Our elementary school was a hop and a skip from the Staples Centre. Haha.

[@stephandden]

Hahaha - that’s funny! And thank you so much 😊

[@gretchenbond784]

My husband and i started a business together and also paid ourselves as employees. Great decision as now that we are messing retirement we have 401(k) plus social security on the horizon. And, we will keep working at our business.

[@stephandden]

That’s amazing! 👏🏿👏🏻

[@miriamhan7942]

I love following your milestones and insights! Really helpful especially for people like me who are new to investing.

[@stephandden]

I’m happy to hear that! Thanks for watching 😊

[@NicholasFoster-k9w]

Good for you! I’m saving 51% of mine.

[@stephandden]

Thank you! That’s amazing 😊

[@cohenmicah]

Love the page you two! Especially the focus on investment info for Canadians. I would love to see more content at an intermediate/advanced level. for example: how to evaluate a stock or ETF (what to pay attention to on a fund fact sheet for example). Comparing different funds. How to invest into US stocks on Wealth Simple as a Canadian, what additional fees to expect and how that impacts on your overall yield. Great work, keep it up :)

[@stephandden]

Thank you so much + thank you for the suggestions! 😊

[@XxLogo]

Hey Steph/Den! Not sure if this is a bug or intentional for the V2 Budget Sheet, but on the Monthly Expense Tracker Page, under the Income Tracker box, each month of the year, after January, is equal to I47, or January 2025. So if you adjust your income for Jan 2025, it changes each months’ in the Income Tracker box, and in turn, the Annual Budget sheet. I think each are meant to be equal to ='Budget Overview'!$I$7, like Jan 2025’s is, so that way if your income changes in Jan, the other months remain the same according to the expected income on Budget Overview unless manually changed. Happy New Year!

[@TMKJG24]

I love your style of budgeting Nice simple. Easy concept. I will start applying that to my budget. And I also love your template. Looks easy to use. I need to buy a laptop so I could be more on top of my finances. I'm also a visual person as well. Thank you so much for sharing. Your journey.

[@stephandden]

We’re happy to hear that - our goal is to make it simple and easy to use! Thanks so much for watching + for your comment 😊

[@Fringinto]

I love this video!! Very good motivation as we approach the new year too! I love that you are in Toronto too bc your expenses are pretty similar to mine! One thing I wanted to say about Spotify, we switched to KZbin premium 2 or 3 years, you get the music + no ads on KZbin, it’s easier 1 person or 6, we got the 6 for the 2 of us and are treating some friends but it was a better deal since we consume so much KZbin!

[@stephandden]

Thank you! + thanks for sharing - that sounds like a great set up 😊

[@sadikiways]

I'll definitely learn a lot from you guys ❤

[@stephandden]

🙏🏿🙏🏻 we’re happy to hear that!

[@canpin]

Den is a one lucky lucky guy!

[@kelseyh7918]

Love the video. Watching your updates always keeps me motivated to keep going with my investing and financial goals. Also, you and Dennis should host some kind of event for young people interested in finances in TO sometime! None of my friends see the importance of investing/understand it, so it would be fun to meet some other young-ish people who do!

[@stephandden]

We’re so happy to hear that - thank you for being here 😊 That would be so fun! We’d love to do something like that in the future

[@he.smile_]

My fiancée and I are going to the Kendrick concert in Toronto too!

[@stephandden]

We’re so excited for it! 🥳

[@mohamedwarfa9046]

Thanks guys for sharing your financial goals journey. Is it possible you guys could speak to your business income and expenses since that is what drives your monthly income.

[@stephandden]

Thanks for watching our videos! We typically only speak about our personal income and expenses - but yes, our personal income is based on what our business is bringing in 😊

[@tysonogloff]

What a year to be able to dump all this money into your investments! Huge year in the markets, and when you show your registered accounts the growth is obvious! 20+%!! Lets hope for another in 2025

[@stephandden]

Agreed! 🥳🥳

[@ericroth2150]

Just curious (it may have been covered in a previous video). If you are looking to dollar cost average, why are you maxing out one account followed by another? Why not make regular contributions throughout the year to each account?

[@mikek6791]

I've hit my $300K milestone this year through brute savings and investing into the stock market at 29yo. Living in Toronto as a single dude, it's always a challenge finding a right balance between quality of living and saving money on rent. In the end, I decided to buy a condo unit using my non-registered funds in this tanking condo market, but I learned a lot through the process and really opened my eyes to a whole perspective about finance - since I was mainly a stocks guy. I think you will eventually get there in your journey, but it might be a good idea to start monitoring the current state of Canadian real estate market and understanding the mechanics of it, so that you have all the knowledge and resources you need for your big purchase in the future. Just like the stock market, we build muscle memory through trial and error, but we typically only have one or two shots at buying a real estate property in Canada (hence why many pre con loss stories are dreadful, life changing events). It's going to be great for building your content as well.

[@DavidKnicks]

Cool mug!

[@stephandden]

Thank you! 😊

[@andrewpearson2131]

14:35 Technically it's midnight on December 31st/12:00 am January 1st that the new contribution room is added (midnight January 1st is a full day into 2025) 😉

[@stephandden]

Hahaha - yes, you’re right! 😂

[@marynahoum]

Tip for Spotify is buying a gift card and it covers for the year and you get one month free!

[@stephandden]

That’s a great tip! Thanks, Mary! 😊

[@abishekhemraj4139]

I have not been able to download your latest budget template from you website. I've inputted my email and necessary information but I haven't received any email so far.

[@stephandden]

Hey Abishek! It looks like the email was sent on our end to both your live and Gmail account. We’ve sent it again, but please let us know if you experience any other issues. 😊 Also, take a look at your spam - sometimes these emails end up in that folder by mistake.

[@abishekhemraj4139]

@stephandden I have received the same. Thank you very much for your quick response. Happy 2025 to you guys

[@matthewpotvin]

How were you guys able to reach generation member on wealth simple so fast and get the 3.25% interest rate? any tips you can share would be appreciated!

[@stephandden]

I’m a Premium member, not Generation 😊

[@matthewpotvin]

@@stephandden That's what I thought! I just noticed at 21:40 when you were showing the budget sheet you had 3.25% interest rate and I was like holy shit how did you get to the generation member so fast

[@sofiya4902]

Hi Steph, I'm having issues downloading or accessing the budget template. I have not received the email when applying through your website, nor can I access the template through the promo email

[@stephandden]

Hey! Send us a message with the email you used and we’ll get you another copy. Also, check your spam folder - sometimes these emails land in that folder by mistake. 😊

[@grahamwalter3623]

Any reason you're not just investing our of your corp (at 9% tax) rather than paying personal income tax on salary paid of of corp?

[@stephandden]

We’ll likely start doing that in the future 😊 for now, we want to pay ourselves out a high enough salary that we can buy real estate at some point in the future, and then we aim to invest as much of that salary as possible!

[@mato2126]

How do you incoporate you business as a youtuber?

[@enadao8160]

Love your videos but why the constant zooming in?

[@stephandden]

Thank you! It’s a way to add visual engagement 😊

[@buddy6910]

That’s a good income 4300 a month for each of you ! What is your occupation ? Or does alot of the income come from the channel ? And I’m in Ontario to it’s rough now a days

[@stephandden]

We’re personal finance content creators full-time 😊

[@Mikemathews33]

I have been enjoying using sports bedding as my source of income. It’s quick convenient and I can make money from home in the comfort of my room. It is probably the best job of any sports fan out there. What a fantastic way to make income.

[@carl6589]

My goal for 2025 is to save on average $500 a month with a take home pay of $2000 a month. Let's just say I will volunteer allot for overtime and probably have to work on the side.

[@stephandden]

I love that you have a plan - you’ve got this! 🥳

[@WealthyChronicle]

Wow, $2,000 a month invested?! 💸 What kind of return are you seeing with that strategy?

[@stephandden]

We’ll be posting a video soon talking about our investment portfolio results over the past year 😊

[@Porcelynnn]

I want to work in HR 😂 because I love talking about company benefits. Am I naive?? What is working HR truly like??

[@oli3.14]

I'd be interested in a video from Steph talking about her experience. I also have considered HR as a career path.

[@mattstone8878]

​@@oli3.14Your job in HR is to make sure that the company doesn't get sued by its employees.

[@mikes357m]

I noticed you don't have life insurance or critical illness insurance in your budget. As young people why don't you have that? The younger you are when you start the cheaper it is and to me it is a necessity.

[@stephandden]

You should watch our video called ‘Life Insurance, Explained’ 😊

[@elizabeththompson1525]

Do you not go on vacation or have an emergency fund?

[@stephandden]

I sure do 😊 I have a fully funded emergency fund (for me that’s $10,000) - so I don’t actively save towards it anymore. I also have a few thousand dollars at any given time in my ‘other savings’ account for trips or other big expenses, and I’ll replenish as needed!

[@vanillacoke8981]

First

[@Intentionaltia]

2nd

[@stephandden]

🥳🥳 so quick!

[@djee02]

660$ for a concert is nuts.

[@NV-rr8mp]

not really. For a huge artist, that’s reasonable

[@stephandden]

It’s definitely expensive! We typically don’t go to any concerts, but we really wanted to see this artist - we’ll adjust our other ‘entertainment’ spending accordingly to fit it into our budgets for the year 😊