How to Budget and Gain Control of Your Money 💰

[@christinefrazier]

yay kchoi is sponsored!!! been following you since london vlogs!! so proud of you and thank you for this helpful video!!

[@bykchoi]

thank you for the support!!! 😭

[@goandrewgoh]

Thanks for another great video! I use Mint for my budgeting and it's been pretty ok. However, the best budgeting and financial planning method for me was reorganizing (or cleaning) my relationships with people. This may sounds a bit harsh, but there are people that just aren't helpful when it comes to personal finance 😂😂😂

[@yee2minty]

I make my own spreadsheet... 55% of my paycheck goes to savings (50% for my mom and 5% for me), then I have about 45% to spend (37.5% goes toward bills/necessities, and then I have 7.5% going toward my wants/splurges). There will be times where my bills goes over, so I just cut out on splurging/treating myself. However, there will be times I also splurge a little more so I save on grocery. Basically the same concept you did... since I have control of my money. I don't feel panic when I do get in the red, just kind of readjust!

[@bykchoi]

Amazing!! Thanks for sharing :)

[@emmanuelmonteclar5370]

idrk what to say in this comment because I HAVE SO MANY POSITIVE THINGS TO SAY ABOUT KCHOI yall!! like damn. thank u for existing in general. i also wanna comment on how relatable u are in your videos...i think a lot of youtubers don't understand the importance of that - its really how you build an audience. you gave me confidence in my pursuit of an english major and a boat-load of helpful tips and advice. i look up to you a lot :')

[@bykchoi]

Awww thank you so much!!! This means a lot! 😭

[@niteshsherchan6830]

Hi! Kristina, how are you? First of all you look good on those glasses. Yeah, paycheck, savings and payout previous bills, why it is so important and how to manage it really matters in our day to day lives and take control of it. Thanks for sharing the Four roles of budgeting, it's a new technique and effective ways of of Savings, Budgeting and Money Management. Also, you have shared your past and ongoing experience of spending and money savings. It's helpful and insightful. You have an excellent knowledge of it. I have a family cousin, Uncle who is an Architect, he used different method, for example; after many years of working in the field, he is able to save the same amount of money received from his salary, the same money he is able to save it and the same amount of money he uses for spending. Which means, he has enough money to spend, at the same time he saves and spontaneously earnings comes up the same. He is able to take care of all three areas. I think, to apply this technique one needs to have a high-income and at the same time skills of Money Management. What do you think?

[@ChristianReuben]

I love how simple + straight to the point your videos are. Well done.

[@bykchoi]

thank you!!

[@shaneikiyasteel7073]

Ahhh!! This has been so helpful! I'm trying to re-budget so I can move in April! I guess I have kinda always done the envelope method but I've also been hard on myself too and put too much money toward a particular bill and it has wound up setting me back one way or another. Thanks for sharing YNAB, just downloaded it. Thanks for always being so relevant and honest!

[@willaguila]

I just started YNAB last month. It’s amazing! Such a life changer!! Thanks for promoting it!!

[@bykchoi]

I love ittttt!

[@willaguila]

The thing I love most about YNAB is you can set up your groups/categories the way it works best for you. And when you have to “roll with the punches” you can easily move available amounts around to cover your overspending in a category. It takes a good month or so to really understand how to use it properly but now it’s second nature. I immediately pull up the app and record the transaction at the grocery or restaurant or bar right after I spend it!! Also. It helps me to spend available cash wisely and not have to rely on credit cards. So awesome.

[@bykchoi]

@@willaguila exactly!!

[@marcellareyes892]

I was excited to watch this and now I’m like wow you also use YNAB 😂😂 it’s helped me save for vacations, I love their blog posts. Also their Facebook group is great!! Super inspiring when I’m feeling unmotivated.

[@bykchoi]

Yay!!

[@marcellareyes892]

@@bykchoi The only struggle I have is actually entering transactions - I know some people can do that after every transaction but that's hard for me. Do you reconcile your budget like every day? Or once a week?

[@bykchoi]

@@marcellareyes892 I try to enter my transactions immediately! I do it maybe 80% of the time? It stresses me out when I don't do it right away. Feels so much better when I'm just approving the transactions that I already entered vs. assigning them categories hahaha

[@dainkang6370]

Thanks for helping me budget!!

[@Dio-in4zy]

Thanks for sharing, this was very helpful! I look forward to trying YNAB :))

[@bykchoi]

Yay! Good luck!

[@kevinc.23]

Income - Savings = Expenses, meaning savings first before expenses. Another one is 80/20, 80% for expenses and 20% for savings.

[@bykchoi]

yes, always savings before expenses!!

[@believer7495]

Great tips 🙌🏾 As a side I’ve been watching your vids for a bit now. My job is switching to google so we’ve been having tons of live trainings online. One of the trainers introduced herself as a change management consultant. I was thinking oh I know what that means 🙋🏽‍♀️

[@bykchoi]

Hehe yay!!

[@dearsaturdays]

This is so helpful!!! And thank you for introducing me to Warby Parker glasses! They look so cute on you and now I want to try pair!

[@bykchoi]

🤓🤓

[@Janfilms_]

your videos are srsly so amazing and useful for the younger generation!! thanks for your effort!

[@bykchoi]

ahh thank you so much! 😊

[@rgta26]

Can I just say that I'm genuinly happy that you get sponsored? cz I think you really deserve it since you always create helpful and very informative videos. ;")

[@bykchoi]

aww thank you so muchhh!

[@Jen18812]

Congrats on the sponsorship!!! So well-deserved!!!!

[@bykchoi]

Aww thank you!!

[@RafaelColladoLemon]

This video came in CLUTCH. Thanks a bunch!

[@bykchoi]

yay!

[@alphadevoir6310]

I liked the envelope method. Kchoi you should make a video on the top schools in the U.S. for consulting.

[@bykchoi]

good idea! :)

[@Ricccardo80]

Great video!!! 🙌🏻 Thank you so much! The envelop method is a great idea and I love the idea of proactively budgeting. You are great 👍🏻 Once more, thanks so much for this video.

[@bykchoi]

Thank you!!!

[@Ricccardo80]

kchoi 😊 🙇🏼‍♂️

[@analogs8347]

Hi Kristina!! Love this so much, this is very helpful. Looking forward for your future videos about investing as well? ;D Love ya and take care always. *hugs*

[@bykchoi]

yes need to get on that!! Hahaha

[@safaaelgoutaya8557]

Thank you ...hhh I was wondering how can I manage my salary and control my emotions and my Love to spending money hh on fast food hhhhhhh

[@bykchoi]

it takes work but i find that using the envelope method lets me spend in cateogires (like dining out) more freely because i've already decided how much i can spend for that month/period! i have to have self-control in how much money i put in that category though hahaha

[@DigiGlenn]

Hi, I want to ask if the salary u received are an average salary for a working people on the country, or is it higher than average? I'm thinking on going to UK so just wondering

[@bykchoi]

i would say my salary is average for a consultant but above average in the US overall (at least that's what a quick google search of "average US salary" tells me! haha). i'm not sure about the UK, though.

[@thatguywithtampons4130]

So early hehe😍😍😘