How to DOUBLE Your Savings

[@ElAgustin]

What steps can you take to increase your savings?

[@amyjones8613]

I started being more mindful in July and currently doing an envelope challenge every weekend. At the end of the year I count all the envelopes and put the money in a savings account

[@omalleysmith9100]

Be happy with what you already have, change your diet to include cheaper things like rice, whole grains, lentils. Walk or bike instead of driving whenever you can. Don't drink alcohol. Quit smoking if you do. There are endless ways to increase your savings, but a lot of people aren't willing to change their lifestyle, I think.

[@noreenn6976]

I've reduced all of my expenses except rent is a huge drain on my budget. Trying to get that one figured out.

[@scotttea2048]

Switched to Mint Mobile, grocery shop at Aldi's, and for entertainment I hike, bike and swim.

[@shayleeann7481]

I'm scared of doing the examining step but it has to be done! This is on my list of things to achieve tomorrow. Thanks for the trackers, visuals and explanations! Helps my brain :)

[@rickcooper156]

I converted my SUV into a tiny home over 3 years ago and it changed my life beyond words! I've saved SO MUCH and I'm debt free and I have money and time to travel and experience life on a Hyper Level. I live a Minimalistic Lifestyle and I collect experiences and not things! I never knew that Life could be so good and I wish I had discovered this lifestyle when I was younger... The nomad life is growing and rescuing people around the world! It rescued me...

[@findinglisa9000]

There is no cheaper place than $1500 where I am at lol One bedroom apartment here is $2100 minimum. My solution was to convert my SUV into a camper and I paid off over $21000 in credit card debt due to a business that it didnt work. My credit score went from 524 to 757 all in 6 months plus funding an emergency fund at the same time.

[@bloknumfazm]

Suv conversion can cost only a few hundred bucks. Sure it's a bit less comfortable, but if you're saving 1.5k a month, you'll forget about that

[@ElAgustin]

haha, yeah. Most areas you can't find affordable housing. Cool alternative. I spent 1 month camping without a bed and it was hard (although living in a SUV will have more amenities than camping!).

[@findinglisa9000]

@@bloknumfazm The conversion cost me like $200 after buying the plywood to build the bed platform, the legs, a memory foam trifold mattress, and few other items. Im pretty simple and minimalist. I had to go to a hotel few times due to weather conditions, and got sick with covid , but 95% of the time on my SUV.

[@findinglisa9000]

@@ElAgustin Maine is very expensive, but it is amazing here! I have lived in many states, and I have been to 48 so far, Maine is my favorite. I have camped many times before and it is not comfortable lol SUV is the way to go lol Now I gotta pay off the SUV and I will be debt free before the winter gets here 😊😉

[@bloknumfazm]

@@findinglisa9000 hell yeah, I'm just about week into doing a 'no build' in mine. Think it's all set to live in as of today. Congrats on changing your life! Here's to freedom

[@paulreid1711]

I live in the UK and make about £ 1,400 ( $ 1,700 ) per month. Even allowing for the fact that I do largely un-skilled work it's a poor wage with all the things I have to pay. Yes, I can improve my lot but it'll take a long time. I've certainly been inspired to live more frugally after watching your videos, Austin. Keep up the good work!

[@ElAgustin]

Thanks and best of luck on your journey, Paul!

[@chicnoir29]

Can you find a part-time job? How common is it for people to work 60hrs in the UK?

[@noreenn6976]

@paul reid is it possible to get an apprenticeship with an electrician or plumber?

[@paulreid1711]

@@noreenn6976 Noreen N: I'm 48 now. On the occasions that I've looked into learning such trades, the costs were very expensive; and one needs to have the time to do the requisite training, which I don't have as I do a day job 40 hours a week. Admittedly, I haven't looked into it in great detail. If only I'd learned a trade after leaving school.......

[@cathypreddie98]

I have learned more from you than you can imagine from you. I opened savings bonds at higher interest than just sitting in a savings account doing nothing. Cut back expenses. Very happy I found your channel. 🙏🏼

[@miguelcasillas357]

What a great video! Thank you, Austin! It was really eye-opening for me , once I tracked my expenses, and went down each line to see what I can cut out or reduce, how much money I can actually save .. I was shocked! Looking forward to following through with your process ♥️

[@ElAgustin]

I'm glad my videos are providing you value, Miguel! It is pretty shocking to see and it kind of helps me understand myself a bit more.

[@ryanpotter5002]

Austin, you've got some of the best videos on KZbin when it comes to the tips on getting out of the ray race!!! Great content man

[@ElAgustin]

Thanks for you kind words!!

[@suzanneoconnell9625]

Loving all of your tips Austin, for months I’ve been living unintentionally. In the past two weeks, since following you, I’m finally watching my spending snd hope to have a savings pot soon! Wish I’d done it earlier.

[@ElAgustin]

Right on, good luck on your journey!

[@dodgecityvanlife]

I'm converting a cargo van in a home to save money and the KZbin algorithms knew I would like this channel. I'm binge watching all the videos and I'm finding that there is a little "Austin" on my shoulder everytime I go to spend money. 🙃

[@ElAgustin]

Nice!! I'm glad my videos help you!

[@julie3686]

Thank you for the tips! I see myself as someone who's really good at keeping expenses low. I moved out at 19 and have been a student for many years. So things like cutting out shopping or buying mostly second hand items, being good with creative cheap cooking, cutting mine and my partners hair at home etc etc come very natural to me now, HOWEVER... I did not have the habit of saving, which of course I wish I had developed much earlier. As a newly graduated young musician, it's become very very clear that I need proper savings, and I've made good progress in the last few months. I'm aiming for a 3 month emergency fund right now to keep motivation going, but I think I'll keep saving for a bigger one and maybe start investing a little bit after I hit the three month mark. I found it interesting how your emergency fund is a full year. Is it because you are now self employed?

[@yumikoinoue6604]

This is great that you actually showed how to track expenses. Thank you.

[@jamesfrancesca4077]

We've just discovered your channel, and have been binge watching several of your videos already! You come across as an extremely genuine and down to earth person, so different than many of the so-called 'financial gurus' out there on YT. Subscribed!

[@ElAgustin]

James & Francesca, I appreciate your kind words! I try to come from a more "realistic" lens! Thanks for watching!

[@jennesont4791]

Ummmm... the strategy is great, but your assessment of the fictional budget is very optimistic. An unauthorized basement bachelor suite is more than $1000/ month (plus utilities) in my area. Our cell plans are notoriously expensive compared to the US and groceries are quite pricey even shopping sales only. If you can find a reliable vehicle for $5000 it will be older than you’d think. (I’m on the West coast of Canada) I could move to Saskatchewan where rent is cheaper but the savings would be eaten up by heating costs.

[@sandrabryan9106]

That's true! You wouldn't find the great transportation system that you have, your car would be exposed to salt in the winter, you would be away from your social network, the cost of shipping is outrageous, you would have the cost of changing your ID, higher AC costs in summer and good luck changing jobs or your doctor. I agree the strategy is good but you have to be careful weighing up the cost/benefit analysis. Another case in point is New Brunswick's tax rate, heating costs, high unemployment, poor medical system, and the extreme cold, damp Atlantic winters in which electric heat and wood are the only options and the big REITs have moved into the area which will drive housing costs up.. Great video though!

[@noreenn6976]

Rent for 1BR/1BA apartment where I am in USA is $1425 and up 😳

[@noreenn6976]

$5k might buy an old Toyota Corolla or Honda civic. Mine is an '07 and still going strong, I'd sell it for $5k

[@temismontenegromontenegro9319]

I always shop with a list and I know that each money decision will push me closer or farther from my financial goals. Needless to say that watching your channel has helped me a great deal. How fabulous you are !!!

[@spirodoukas]

Make your own coffee, also. I used to spend between $3-4 dollars a day on coffee (Dunkin). But, I used to live in Greece which. Has a strong coffee culture. When in greece (or Europe overall), I go to the “cafes” once or twice daily. It’s a great experience. The coffee culture in the USA is pathetic compared to other countries.

[@lisam200]

Always enjoy your videos. I like the keep it simple with a spreadsheet theory for tracking expenses, but was happily surprised to find that there are some nice, simple spending tracker apps that are free and with no ads that have nice graphical and analytical abilities.

[@rafaelmtoledo]

I've been using Mint (free) to track my budget and it's helped me buy 2 houses in 5 years. Now, budget did get a bit affected after having children.. Would say 30% in savings now.

[@Paul9]

Thanks Austin, great to the point video as usual. The spreadsheet is very useful and will start to use it as I have been looking for a simple way of tracking expenses.

[@KS-xz2rq]

If you were in India like me you would have easily saved 90 percent of your after tax income.This is the figure I am at right now.And the ten percent is more than enough for a very comfortable existence since my house has been fully paid for.Cheers from Bangalore.

[@castanedagus]

Be careful that WhatsApp may not be from Austin. Most are scams

[@DesertMav]

I honestly live quite frugally, but I can save a little more by ending some subscription services and eating out a little less. To be honest, I may even lower my cellphone bill by changing providers due to a noticeable decline in service.

[@VitainFlorida]

You are amazing!!! It is sad how the mentality is so different and people don’t get educated sooner.

[@sandrabryan9106]

I laughed when you said "stick it to the Man." Liberty means the "absence of necessity, coercion, or constraint" whether it be in regards to your time , money, or energy. It is synonymous to the word freedom which equates with being free from the power of another, " hence "the Man".

[@LaurieBertelsen-ze6ub]

Do you have a renting vs. owning your home video?

[@VitalBigras]

Please explain what you put under the "entertainment" and "stuff" on your expense google sheet…

[@dpayne1943]

I have another suggestion that will force you to adjust your spending….PAY YOURSELF FIRST. Decide how much you are going to save and then automate it. Be realistic, don’t go too crazy. Now you must adjust your spending to match your new net income.

[@maxinef6654]

Thanks for the video. I’m looking for ways to lower my internet, car insurance and cell phone bills.

[@kidcarlomagno7094]

Mi buen Agus, que bueno que me topé con tu canal, siempre saco algo bueno de tus vídeos. Saludos desde México.

[@ElAgustin]

Gracias!

[@juliescheidler7763]

Hello, a fellow frugal person here who recently paid off my house by managing my money. This is really good advice, everyone can take some nugget and implement it into their life.

[@bigphilly7345]

Switched to Mint and bill went from $96/month to $15/month. Saved $81. However, I need a car now and there’s no way in today’s market you can get a remotely reliable car for $5,000.

[@shawnjohnson2833]

My coworker just bought a low mileage older Jeep for $3200. All it needed was new struts. He has been driving it with no problems. I’m sure it won’t last forever without some more repairs, but it was a great deal.

[@mohsinkalanjiam]

your channal is helping me a lot..... thanks bro

[@ElAgustin]

Thanks for watching and I'm glad it's helpful!

[@intrepid_rain]

“Can you imagine paying 1500 for rent..” I had to laugh at that one; I wish I was only spending 1500 a month for rent. And this area I can’t go any lower unfortunately. I hope it doesn’t go up any more next year 😭

[@sandrabryan9106]

Mine will be going up next year and I live in area with zero vacancy rate. Splitting the rent and utilities with others has worked for me for over 21 years

[@noreenn6976]

And the experts keep saying rent will go down, I sure hope so, paying $1425 now, cheapest rent in my area.

[@ElAgustin]

A little sarcasm, not sure if it could translate through the internet! Yes, rent is outrageous in most parts. Thanks, Sara!

[@noreenn6976]

@@ElAgustin rent prices are outrageous for sure.

[@DrLusEnglish]

Great. I save 50%

[@pabloe.8799]

Your videos are amazing, they motivate me to save more money. Tu español es muy bueno, Agustín. Saludos desde Chile :)

[@ElAgustin]

Gracias Pablito!

[@slackerjo]

If I made imaginary guy's $4K ($5100 CND), per month, I'd be living a completely different life, but I'd still watch the channel Austin.

[@ninamady5861]

Thank you so much for your help...it is encouraging to start this new way off taking care of my finances!!🙏😘

[@ElAgustin]

Best of luck on your journey!

[@donnapeed5232]

I just discovered your channel and plan to go back and catch all of your videos. I love your energy and solid advise!

[@ElAgustin]

Thanks, Donna! Welcome!

[@schrodingerssquirrel6973]

I don't think I could double my savings, As I save half and live on half. I wouldn't mind eeking out another ten percent though.

[@ElAgustin]

Even 1% more is better than nothing!

[@sct4040]

That sound pretty good already, saving 1/2 is great.

[@Meghana_Narayanswamy]

Gracias!✌

[@castanedagus]

Great video, again. I like the idea of the chart. Makes it much easier to analyze all outgoing expenses Te ves muy guapo Agustín con el pelo más corto como hoy👌🏻😀

[@ElAgustin]

Note taken, jaja. I let it grow a little too long! Gracias!

[@josecaraballo6053]

Augustine is right to save money on groceries is switching to generic brands is could save me money 💰

[@SassySkylar]

Monefy is a good app to track expenses. I have intentionally decided to pay the £36 annual fee as I’ll be tracking for more than a month. The app is really easy to use and the graphics present a sobering picture of my affairs. A simple excel spreadsheet will do the same thing but is less inspiring to use. I’ve already cut out some of my streaming services. Austin you ought to be proud of me. I’m looking forward to saving my pennies and pounds. I’ll pop my savings in index funds - after my emergency funds are plumped up.

[@danicegewiss862]

We save as much as we can. We're paying off debt as fast as we can. Our credit card debt should be gone soon. Then it's our mortgage. I slam our debts. I have a budget. Any change I get goes into a jar which goes into savings when it's full.

[@ozd2122]

This is amazing, thank you for inspiring me to do this.

[@jeremyhelquist]

While I agree with 95% of his video, the housing situation is not so easy. Where I live, NorCal, the avg rent is: Studio - $2,624 1 Bed - $2,314 2 Beds - $2,497 3 Beds - $3,015 Yup, studio is more than 1 bdrm neither of which allows for roommate situation. Even if you roommate a 2 bdrm your half alone (excluding utilities and all the superfluous add on charges i.e. admin fee, parking fee, etc.) is still $1200. That is (roughly) 30% from a 50k/yr job JUST for base rent! So, to save money on housing would mean relocation, which would mean losing income. I feel he doesn’t have a current understanding of housing/rental market as he’s said he lucked out with his apt in previous videos. If everyone were lucking out it wouldn’t be luck. And then the car market. It is as bad, if not worse, than the housing right now. Finding a reliable used car for $5,000? Not to mention getting enough to pay off the current car so the title is free and clear for the new owner plus that 5k for the unicorn used car? Here you need that luck.

[@davidguarin358]

Studio more expensive than a 2 bedroom apartment?😰😰😰

[@jeremyhelquist]

@@davidguarin358 yeah, makes no sense unless it’s from 2 reasons: supply and demand (not as many available ratio wise) or they’ve over priced them to deter people from doing exactly this (downgrading to save money). It’s probably a mix of both. After all the $$ is all that matters to ‘the Man!’

[@davidguarin358]

@@jeremyhelquist I believe you 😎 brother. I live in a 450 square feet studio apartment, and I own it and is pay off But everything is sooo expensive I can’t even buy nothing bigger. My Neighbor is renting his studio for 1.800 a month wish is insane here in tampa Florida

[@prepperboss]

Looks like you chose to live in an expensive area. What this guy did was move to a place where he could find affordable living to achieve his goals of saving half of his income. Sure signs are out of control but you have to adapt. I retired and left California two hours later for a better area of the country or I can retire and live the way I want. I never could afford to of retired in California, besides it being a feces filled area run by Socialists. California and every other blue state is a joke.

[@noreenn6976]

@@LA-wv7gf recently went looking for an apt in central FL, noticed that many complexes had lowered the income requirement to 2 and 2.5 times the rent. At the current rates, in the areas I checked, there's no way they'd find tenants with an income requirement of 3x the rent. More places need to do that or rents need to come down. It's unsustainable right noe.

[@zackharris01]

Thanks for the spreadsheet! Very useful. Just discovered your content, keep up the great videos. Subscribed.

[@ElAgustin]

Thanks!

[@alananthony1960]

Hi Austin, how do I use the spreadsheets? When I try to edit it says view only?

[@ElAgustin]

In the google doc if you have a google account then file --> make a copy. If you do not have a google account then file --> download and choose the format you need. Best of luck!

[@alananthony1960]

@@ElAgustin thank you 🙏

[@OurPerez]

Thank you Austin!

[@ElAgustin]

Thanks for always watching!!

[@shayleeann7481]

Hey Austin! Any chance you could make the Google Docs so we can edit/use them? I've tried but it says I have read only access and would save me so much time if I didn't have to make my own! Cheers :)

[@ElAgustin]

Howdy, to make a copy you just go to file--> make a copy. If you don't have a google account then file--> download! Thanks for watching, Shaylee!

[@shayleeann7481]

@@ElAgustin I figured this out about 2 minutes after I posted! 🤦‍♀Technology is certainly not my strong point lol. But all done now thank-you! Also I worked out I can save an extra $620 a month 😳

[@TheAndrewLopezFinancePodcast]

How to double your savings? Go all in on yolo OTM GME calls

[@zoraster3749]

💎 🙌

[@imaxinebrown694]

Thanks for sharing….

[@ElAgustin]

Thanks for watching!

[@sheiladavid6463]

I've found your videos very easy to follow. Would love the spreadsheet as I'm trying to track my expenses but always fail. Thanks.

[@A_T_O_M_I_C_Rooster]

Not trying to pry into your situation, but are you single? Do you have a wife/girlfriend that shares bills including rent/house payment?

[@jrb1737]

❤️

[@noreenn6976]

$350 on eating out 😳

[@daviddean6032]

Second~~!!

[@ElAgustin]

Second reply to the video's comments.

[@sandysanderson8588]

Great vid

[@ElAgustin]

Thanks!

[@sct4040]

I saw maid service, that’s the one I would cut. The car, no way you should or could get a $5k car.

[@noreenn6976]

Old Toyota Corolla or Honda Civic

[@carolynstewart8465]

Maid service?

[@cindyneal5580]

I needed a car out of the blue...didnr know my old one had such a rusty motor mounts ( 2007 ford focus ) & my great garage had a 2013 dodge journey for $ 3500. It has a 169.000 kms & came with 2 sets of tires on rims ...im loving it. & yeah i owe my parents for it. No interest.

[@AnaGiselle777]

💯💜💜💜💜💜💜🌷

[@judithgrace9850]

Hola from Queretaro. God is in charge.

[@judithgrace9850]

Hola from Queretaro. God is in charge. Enjoy your money. Pay rent first. Work overtime or extra jobs. Help others. Enjoy life.

[@vampx79]

Gastas muy poco dinero en comer, amigo

[@chinhwankim]

First~~!!

[@ElAgustin]

First reply to the video's comments!

[@joseqr8042]

You are a crazy guy I want to meet

[@ElAgustin]

One of these days, Jose!