How to Find $2,500 in Your Budget

[@WAGSMadison]

Katharine Hepburn’s childhood, in her own words. “Once when I was a teenager, my father and I were standing in line to buy tickets for the circus. Finally, there was only one other family between us and the ticket counter. This family made a big impression on me. There were eight children, all probably under the age of 12. The way they were dressed, you could tell they didn't have a lot of money, but their clothes were neat and clean. The children were well-behaved, all of them standing in line, two-by-two behind their parents, holding hands. They were excitedly jabbering about the clowns, animals, and all the acts they would be seeing that night. By their excitement you could sense they had never been to the circus before. It would be a highlight of their lives. The father and mother were at the head of the pack standing proud as could be. The mother was holding her husband's hand, looking up at him as if to say, "You're my knight in shining armor." He was smiling and enjoying seeing his family happy. The ticket lady asked the man how many tickets he wanted? He proudly responded, "I'd like to buy eight children's tickets and two adult tickets, so I can take my family to the circus." The ticket lady stated the price. The man's wife let go of his hand, her head dropped, the man's lip began to quiver. Then he leaned a little closer and asked, "How much did you say?" The ticket lady again stated the price. The man didn't have enough money. How was he supposed to turn and tell his eight kids that he didn't have enough money to take them to the circus? Seeing what was going on, my dad reached into his pocket, pulled out a $20 bill, and then dropped it on the ground. (We were not wealthy in any sense of the word!) My father bent down, picked up the $20 bill, tapped the man on the shoulder and said, "Excuse me, sir, this fell out of your pocket." The man understood what was going on. He wasn't begging for a handout but certainly appreciated the help in a desperate, heartbreaking and embarrassing situation. He looked straight into my dad's eyes, took my dad's hand in both of his, squeezed tightly onto the $20 bill, and with his lip quivering and a tear streaming down his cheek, he replied; "Thank you, thank you, sir. This really means a lot to me and my family." My father and I went back to our car and drove home. The $20 that my dad gave away is what we were going to buy our own tickets with. Although we didn't get to see the circus that night, we both felt a joy inside us that was far greater than seeing the circus could ever provide. That day I learnt the value to Give. The Giver is bigger than the Receiver. If you want to be large, larger than life, learn to Give. Love has nothing to do with what you are expecting to get - only with what you are expecting to give - which is everything. The importance of giving, blessing others can never be over emphasized because there's always joy in giving. Learn to make someone happy by acts of giving.” ~ Katharine Hepburn

[@sylviasaenz454]

Your story made me cry. What a beautiful act of giving. Bless your dad.

[@abbygator411]

Just make 2000 more a month to find an extra 2500 😂

[@ibislife]

Not as easy as adding it to a spread sheet.. Children, age, health, commute to main job, where one live, education, job situation.. one income family and the list goes on..

[@ONLY1KUDWE]

Pretty much lol😂

[@amfgoe255]

“Find a side hustle for $20 an hour” 😳 mam, I make just under $20 an hour at my full time job.

[@PrinceJayMoriarty]

@@amfgoe255right I’m making 16 at full, 15 at part time. I make about 2500 a month net 😂

[@eandrgoodwin]

So simple. So easy.. 😂

[@ktjomeyers]

Your not actually finding more money.... You are earning more money

[@LeahCollum-q4j]

I zoomed in on the expenses she scrolled past, and wow. Rent was just over $1200. Electricity was $40. Internet was under $40. And phone was $95. The numbers seem like they came from 15 years ago. Rent, eneegy, and Internet are much higher now, and cell phone plans are much cheaper. If you don't make the baseline expenses realistic, it's not a "real" budget.

[@gailrodgers3079]

She is starting with a budget that is higher than what we have coming in. Our mortgage is $560, but electric is ~$175, I was very excited yesterday as we had a propane delivery and because of our mild winter we have only used half of the propane we bought in September. I see people with $600-1000+ for groceries and I wonder what in the world they are eating. Everyone's finances are different. You have to see how you can implement things. In the instance of my husband and I we both had to quit working due to disability so there is no way to add an extra job, etc. We have had to be frugal for many years. No cable, or that type of thing.

[@ivanajukicgloban6627]

My mother as child lived in very poor village,but it was normal to give to ones that have even less than you do.❤

[@melaniereynders]

If you can make $1000 per month from a side hustle for “12 hours per week” and your full time job brings in $2000 per month, that side hustle should become the full time job! Making that much at a side hustle when your full time job doesn’t make you that much seems unrealistic. They should be searching for full time jobs that pay more rather than focusing on a side hustle.

[@filiatreaufamily2322]

People don’t actually need a gym membership and to get their nails done. I would definitely cut those. You can do workouts at home for free with minimal to no equipment.

[@gailrodgers3079]

A lot of the comments here are very good. I think that this budget is unrealistic for many people depending on where they live or their circumstances, such as we are disabled and can't pick up a side hustle. We have lived frugally for years. When my arthritis got so bad I couldn't do my dishes or clean, I had to hire a lady. I gave up haircuts for years. Due to some problems my mom didn't see my hair for years and when she did she wondered where my curls had gone. Since that point in time she has been paying for me to get my hair cut as needed. Weird I'm 68 and my mom and step-dad are paying for my haircuts. Without it, I would probably have really long hair again.

[@jillanglemyer3168]

We live in a rural area. Phone and internet $140, electricity $160. No subscriptions even having our house paid off and no debt, it’s hard to save. We are bartering with the Amish to save money. 😅

[@pattiellen5339]

I could find $2500 in my budget! These three easy steps: *Don’t pay my rent…extra $1800! *Don’t eat…extra $400! *Don’t buy gas for my car….extra $300! !BAM!

[@RogerNexus]

So if I understand this correctly, we should give 10% of our pay even when we are in debt. But we can't contribute 5% to our company match, because it will significantly impact our debt payoff journey??? Sure Rachel, makes senses.

[@UberSky]

Not saying I agree, but they would say it's not a math thing it's a mindset. Giving is good and should be non negotiable. That's why she spent time defending giving. For the match - Dave would say you need to be intensely focused on paying off debt.

[@hddebolt2207]

Giving is important, but there's many ways to give. We can volunteer our time, donate items, help with transportation, make a meal for others, serve on local non-profit boards, organize fundraisers, etc. Trust me, your local non-profits need time AND dollars to fulfill their missions. Don't worry about some percent, just volunteer and/or donate from your heart to an organization that fits your passions & beliefs.

[@joannae3723]

I feel like some of her same arguments could be used for the employee match. It should be a habit, set it and forget it so lifestyle creep doesn’t take over that line item. Invest a little till you can invest a lot

[@ibislife]

Giving 10% of your take home pay will in many cases keep people poor, that money might be the only surplus they have. They might be in debt, and videos like this make them feel like a failure if they dont give. What about giving time, volunteering, being kind. It doesn't have to be about the money, especially if you really need them yourself. Giving should be the final baby step, not something that holds you down, and never let you take another baby step..

[@evalina98000]

👍🏽 Agree, 4 save $, eating out & buying clothes stops, go 2 free entertainment. 4 mo $, sold items on CL, rented out 1 🚗 & 1 room 🏡

[@jo-annmacneill6454]

Too many mistakes this week went to the hairdresser. The bill ended up being $325. I tipped $30 I really couldn’t afford it then we went out for lunch. Me and my daughter it was $54 and the food wasn’t good plus tip Never again got to watch when you go out for restaurants and hairdressers they get rich while you get poor☹️

[@CrayonEater94]

If you get employer match on 401k DO NOT stop that.

[@whobeyou5342]

Keep Disney+...... really?

[@jimmykroll9227]

What happens when you’re disabled and can’t add extra income?

[@marysaltlife1427]

I'm familiar with this situation and feel so bad for my friend experiencing this. I really hope they address this soon on their show...I can never get through on the phone.

[@larryduran3867]

I need to move where this family lives. Lol 😂

[@AngelissimaASMR]

YES! Please upload more videos like this, I find them so helpful! Thank you ✨💵

[@lauraarnold8117]

The music was loud and distracting. Giving is a mindset. It is also a tax writeoff. I took a second job to pay off the debt that my ex left me. Hard at the time but worth it in the end. I only have mortgage (which I pay extra on each month) and utilities. Most utilities are higher than in video. Food is higher now too. But if you cut out non essential extras like gym (work out at home) and eating out, one can compensate the higher utilities. And dont overspend during the holidays. Spending quality time with family is so much more important that buying gifts that are forgotten quickly. I do buy year round when things are on sale.

[@kristigoodman7365]

What are some legitimate side hustles that you can do?

[@christiangiroux9833]

How about making a budget with a take home income of $4-6k a month using websites like Zillow or Redfin rentals to really show accurate numbers of what’s going on. I like you and your dad but you guys can be really out of touch lately. You get defensive over people calling you out about giving but the reality is it’s really close to impossible for people to just “make more.”

[@RogerNexus]

Remember it's daddy's money.

[@brookecaro4723]

I’m a single mom with a mortgage and I budget with making less then 4,000 a month. They explain how you can live off of what you make $$. If you took out all your debt each month how much more room in your budget you have for things you wanted in life. When you add your credit cards back in you see that your credit cards is taking your life away. Be smart about it. If I can do it and have peace in mind about a budget then you can too. Try it for a month with just using cash instead of credit cards. What do you have to lose?

[@JayLawson]

I think the main issue is that 4k a month and you bought a house 2-3 years ago when rates were around 2% is different than 4K a month now and trying to buy a home with rates at 7.7%. You folks that bought a couple years ago won, so understand that when giving advice to your counterparts

[@christiangiroux9833]

@@brookecaro4723 That’s not the issue. What do you currently pay for housing? Because the average home in my area is $1800 for a 3/2. In order to rent, you need 3x the income. That would mean you have to make $5400 a month. The average wage in my city is $18-22hr which equals roughly $2200-2800 every month. Tell me where that makes sense.

[@brookecaro4723]

@@christiangiroux9833 I’m from Illinois. I understand where y’all are coming from. I pay about $850 for a 3/1 house. My electric bill kills me mostly at $162 each month doesn’t matter what I do to change it. I make about $22 an hr at only 40 a week. There’s only one income in my household. I would move if I could afford it. Inflation is everywhere. Some places are more expensive then others. But what the Ramsey are teaching are good principles to live by with the inflation as it is. And it will get worse

[@john-o1g9p]

''giving''... i don't want to feel good, i want to not be evicted. talk about giving time, not money.

[@Andrew--S]

Finding $2,500 in my $2,400 monthly budget is impossible. Rachel needs to retake 1st grade math.

[@mariacorretge6615]

Please make Everydollar available to the UK!!! Loved this video.

[@cookieknife37]

Sorry to say this but this is ridiculous. You said it’s a season of sacrifice to pay off debt but yet you give 10% away. That 10% will be very helpful to pay off debt.

[@truleegarewal5949]

I agree. You don't have to tithe when you struggle. It would make more sense for her to mention to give time or effort, rather than money.

[@trackee2024]

Your marketing team needs a raise!! Since the mint shutdown notice, y'all have been EVERYWHERE!

[@rg-mi5hh]

Good information Rachel.

[@CrayonEater94]

lol yea just make it rain and start doing side gigs and sell all your vehicles 😂

[@lindseye2750]

I loved this video thank you!

[@michaelpalumbo4880]

Finding $2,500.00 is easy - just put $31,250 in a "good growth mutual fund" that always gets a 12% rate of return, and then withdraw 8% annually.

[@paulturner4419]

You need a long chat with your Dad about his very dangerous 8% rule

[@eandrgoodwin]

???

[@andrewrobinson773]

She is incapable of doing a budget without adding income not everyone can do a side thing

[@eandrgoodwin]

I understand the concepts of what she’s doing, but her solutions are often so simplistic and unrealistic. Oh, just cut this and that. Oh, just nab that side hustle (for $20/hour, when the federal minimum wage is only $7.30/hr!) Oh, just sell your car for $4,000 under your loan amount and just get an $8,000 loan to pay it off and get a $4,000 car. (Most loans have to be secured by the asset they’re on. Who’s going to give you a $8,000 loan on a $4,000 car? And interest rates on unsecured loans are outrageous!)

[@hectordelgadillo9952]

I wonder what's Rachel net worth? 🤔

[@Bav92]

planet fitness is $10 per month. so that can be cut to $20