How to Find Money Leaks and Plug Them

Go to our partner www.mintmobile.com/undertheme... to get premium wireless for as low as $15 a month. Special offer: New customers can get any plan for $15/month when they purchase a 3-month plan. $45 upfront payment required (equivalent to $15/mo.). New customers on first 3 month plan only. Speeds slower above 40GB on Unlimited See trymintmobile.com for more details.
New customers who purchase a plan on mintmobile.com before 5/31/24 get 6-mo.subscription to Paramount+ Essential monthly plan on Mint. Separate registration & payment to P+ req’d, must subscribe to P+ by 6/30/24. After 6-mo. period, sub.auto-renews at regular price (+tax), unless canceled. T&Cs apply.
In this video we define money leaks: what they are - and how you can find them and plug them.“Money leaks" - small, but unnecessary, expenses that could be straining your budget and draining your finances- without you realizing it. Essentially, money leaks represent areas where money is being wasted or spent without providing significant value or benefit in return.
//TOOLS AND SERVICES WE RECOMMEND:
AFFILIATE DISCLOSURE: Links included in this description may be affiliate links. We participate in the Amazon affiliate program and several other affiliate programs, as well. If you purchase a product or service with the links that we provide we may receive a small commission. There is no additional charge to you.
○ Graphic Artist: Our Logo design is by: Sarah Hallam, graphic artist:, contact her at: [e-mail].
○ Mailerlite - www.mailerlite.com/invite/538...
DISCOUNT, COUPON, AND BROWSER EXTENSIONS WE RECOMMEND:
○ Honey: (Coupon Browser Extension) :www.joinhoney.com/ref/m7n46co
○ Rakuten: (Cash Back!) www.rakuten.com/r/HOPEWA158?e...
○ Fetch: (Upload Receipt to Earn Gift Cards): USE MY REFERRAL CODE: 3FUV4U at www.fetchrewards.com/
//TIP JAR: Want to send us a special "Thank You" for our content? Here's our PayPal email address: [e-mail]
//WATCH MORE FRUGALITY VIDEOS:
○ Is "Spaving" Costing You Money? • What is "Spaving" and ...
○ Easy 5-Minute Frugality Hacks: • Easy Frugal Ways to Sa...
○ Small Habits that Keep You From Saving Money: • Unusual Small Habits W...
// FREE RESOURCE
Learn how we slashed our budget dramatically in this FREE eBook, "Ten Ways to Radically Reduce Your Expenses": www.subscribepage.com/radical...
//SHOP OUR E-BOOKS: underthemedian.com/shop
//COME SAY HI!
Our website: underthemedian.com/
Facebook: / underthemedian
Instagram: / underthemedian
//ABOUT:
We're Hope and Larry and we love practical frugality. We raised our four sons, debt-free, including paying cash for our home when our income was well under the national average. For tips on saving money, budgeting, paying off debt, and setting goals (while living with a spirit of joy and abundance), subscribe to us here on KZbin and visit us at our website and on social media.
Information on Under the Median represents our opinions only. We are not medical doctors, medical professionals, nutritionists, or investment professionals. All content found on Under the Median is intended for informational purposes only. Please be sure to exercise due diligence and always contact a professional with any questions you may have regarding any information you have seen or heard on our KZbin channel. Use caution when following instructions in this video. The creator and publisher of this video will not be held responsible for any adverse effects that may arise from the use of any method on this channel.
//CONTACT:
For all inquiries, please use this email: [e-mail]

[@DC-cd5tv]

I did try out the 10% rule suggestion...and I WAS surprised. I recently got to the point where I "just knew" there was no more to be squeezed out of my budget - but I really needed to squeeze more. Well, I sat down and looked at my gas budget. It was $160 a month. I looked at where I drove to each week. I was able to determine that I could make fewer trips to certain places, order items online that I used to make "quick trips" for (but had to get free shipping!), and created a circular driving path to save on mileage. After 2 months, I was able to reduce my budget from $160/month to $120! Almost 25% saving.

[@Revert2017]

I love to go through my receipts. I call it, “Receipt Forensics”.

[@UndertheMedian]

We LOVE your term for it. We may start using it. Somehow, having a cool name for something makes it more fun.

[@larryware1]

That's really funny, Revert. I used to work in the Detective Bureau department at the police station and was very familiar with forensics.

[@pianotnt]

@@UndertheMedian my dad is the quicken master he is literally on quicken every other day balancing receipts and bank statement

[@samcrawford7148]

love that term... it gives it such focus...just what I NEED...thanks

[@SherryEllesson]

Hope & Larry, I'm a real accounting geek, so I write down on a budget page for the month what I spent. At a grocery store I might have X amount for food, Y amount for household maintenance products (paper, plastic, cleaners) and the occasional Z - personal care (a new Elf makeup brush or a bottle of lotion) and all of that gets recorded as soon as I get home. Saving up all my receipts and doing it once a month would drive me bugs! That said, I also put aside a certain amount in sinking funds every month out of my Soc Sec income for different things. This week, I'm having a tree service come out to take out saplings that have been springing up around my house and the bill will be up around $1K. My Home & Farm account will cover it. I am blessed.

[@larryware1]

Sounds like you have a great money management procedure set up. Very good!

[@tbarc1]

I agree 100% with taking those receipts and immediately record in my budget notebook! I prob generalize a bit more than you but if I find myself really curious as to more precise info I do break down my categories so I am able to analyze it closer. My budget overall may look lax to some as it's very "simple" but I'm frugal, always have been and my needs are few (ie:no computer and no internet/no television) I don't incorporate sinking funds per se, I have too savings accounts that I do occasional transfer funds as necessary to cover yearly expenses as well as any needed/wanted home emergencies and/or upgrades. My main savings has a goal amount that I always strive to maintain.

[@samcrawford7148]

YES, you convinced me... I have been feeling that way... frustrated with not doing receipts often enough and sometimes I lose them..I am also thinking of putting a notebook in the car...write the purchase down as soon as I get in..as sometimes I forget to ask for a receipt and they haven't given me one. That will really fix a leak in my spending... since I haven't been writing down an amount I spent..like a coffee once in a while, you have to ask for a receipt..if I forget,and don't write it down as soon as I get home...that money is not always accounted for..attention to details in key...

[@youareon2something]

Eureka! I finally figured it out. I’m the money leak!😂 thanks for giving me great ideas to save money!!!

[@LorettaNance]

I just realized I have been diligent about tracking my expenses, but I wasn't tracking my Amazon orders. No receipt in hand so no tracking. Now I know to track it before I hit place order!

[@larryware1]

Super!

[@jbalconi9903]

Oh, that's my budget-killer right there! I set it up now to email me.

[@crosskeyshomestead]

A money leak is when spouses both spend in the same category and may not be coordinated. Both spouses that swing by the grocery store for groceries…is a good one. Double buying or not buying items that are directed to a meal plan for example. Impulse buys….

[@monicaluketich6913]

I had a high powered light in my storage shed that I kept on all the time because otherwise it is pitch black in there. I finally found an appropriate small LED light that gives me enough light with very little electricity cost. I am now looking at other places in the house where a nightlight would be appropriate, cost efficient and help me from tripping over things on the floor (like a dog or cat sleeping). Found a couple of LED nightlights (that work) at a yard sale!

[@Jbridge621]

I have an even better idea for you that takes no electricity at all. You can buy glow-in-the-dark very narrow tape and if you wipe down the top of your baseboards and stick it down, no one will ever know it’s there and then it gets charged all day long by the light when you turn off the lights at night, you can completely navigate your entire house. It kind of looks like the old movie Tron. I absolutely love it.

[@LaManteca76]

​@@Jbridge621That's brilliant! Thanx for the tip! 😄

[@larryware1]

It's always a good idea to have some sort of lighting in areas that are not otherwise lit. I carry an LED flashlight all the time for this purpose.

[@rg-mi5hh]

Good ideas. Also, solar lanterns from Aldi a few weeks back were $6.99. They light up a space really well. Not bright, just a calm light .

[@larryware1]

@@rg-mi5hh - excellent!

[@Janey234]

I started adding 2 oz of beans and lentils to most meat meals. Omelets have 2oz black beans with 2 oz meat in them...I'm feeding luberjacks! Homemade pasta sauce has red lentils. Hamburgers or meatloaf has spanish brown lentils.

[@larryware1]

Great way to have less expenses going into groceries.

[@teresahunt5521]

All of my ground meat is stretched with beans, rice, potatoes, or pasta. When I actually eat a small piece of meat, there's always rice or potatoes as a side dish.

[@sherrybendall5817]

I love the intro. That was very creative!

[@botialoach1]

I have plugged a leak , by cancelling my land line but unfortunately it took me years to do it, paying for something I did not use, timing is everything but when to do something is the challenge

[@davidahart2476]

Great Video, My number 1 leak is eating out, number 2 is food in the frig going bad before I use them. It's kinda funny but if I can get #1 under control, it will most likely solve #2.

[@jennugent3957]

Or fix # 2 will resolve #1. If you focus on meals in fridge it might not make you feel like you're missing out by eating at home. And you're not, you're focusing on not wasting tasty food at home. But doing it the other way means you've to give up or cut back on eating out feeling like more of a sacrifice 🤷‍♀️

[@Joce123]

I am adding one more day per week for batch cooking. It is a dreaded day but worth it..I guess 😢

[@Joce123]

I love your reminders of things like a 10% challenge. It is easy 2 get off track with some of the basics that make a difference.. The 10% challenge + taking 1 thing out of my cart..drive to the store 1 less time etc

[@downtoearth1950]

We no longer use fabric softener, in its plsce we use while vinegar, the cheapest vinegar leaves your clothes soft and fresh plus your front loader is sparkling clean.

[@user-kt4ed2yj6f]

Hope & Larry, this video was so professional (as all of them) & so enjoyable. This was just definitely a 5 ⭐️!!! Hope your hair style is gorgeous!! Thank you for your research it brings so much joy.

[@user-kt4ed2yj6f]

Meant to put a comma Hope, your hairstyle is gorgeous

[@rg-mi5hh]

Good video as always. We like our meat and all carbs are not good for prediabetics. Finding that the second week of the month we are finding the best deals in all stores.

[@samcrawford7148]

I know I have spent ALOT of money on meat over the years...We are trying to cut back...actually this month I am trying to eat from what I have,and have spent little on meat and or other groceries...I am definitely going to start separating my different categories and see what money is spent on what...we need to go more plant based..for sure..this video is so helpful...as always..love you two....wish we had Mint Mobil in Canada...,

[@kmichaelle]

Hope going full Midwest at 15:34 😂 I love you guys! It’s getting expensive out there, these are great things to keep in mind.

[@UndertheMedian]

LOL!

[@GrowingRootsHomestead]

Hope & Larry help! We cannot stop eating out! I absolutely love Mexican food and crave it all of the time. I have figured out how to make the tortilla chips at home that tastes just like the restaurant but as far as the rest of the food, nope! And I don’t think it’s all just the food but taking the atmosphere into account I feel like that’s an unspoken trigger also. This is where we fail in our budget every single time is going out to eat. Why can’t I just say “no”?! I have been working hard at trying to learn cooking skills at home so we can eat at home. Ultimately that is what we want to do because we know it is better for us not to mention we would save so much! Do you have any suggestions to help me overcome this battle? Thanks in advance!

[@myaccount9498]

I had the same problem with Chinese food. I did a low buy / no buy for January and when I saw how much $ I saved; I haven't bought it since! It's now May so that's a lot saved ❤

[@Ozarkmountainoutback1]

Try doing a fast from it for a month and see if your desire for it fades.

[@GrowingRootsHomestead]

@@Ozarkmountainoutback1 good idea! Thank you! 😊

[@GrowingRootsHomestead]

@@myaccount9498 oh wow- awesome! That is a really good idea! Thank you!

[@GrowingRootsHomestead]

@@annkrull9894 good ideas! Thank you!

[@KarinCole-bk2sd]

I can't wait to try the 10 percent challenge! What a great idea!

[@NoseyFloridaGirl]

I love MINT

[@janetmatte7991]

Hello Hope and Larry, our cable bill WAS $180.00. We no longer have cable.

[@user-zl4rr1ic7w]

Yeah for you! Big savings!

[@myaccount9498]

$180? Is that for a year?

[@LauraMacMillan-el2kc]

Per month. Not that uncommon.

[@LaManteca76]

Ours was $150 3 yrs ago. Only kept internet so I watch a lot of Tubi & other free apps on the Roku.

[@larryware1]

Good move on your part!

[@Joce123]

My electric company surprised with a letter indicating that since I use less than 300 kWh on average per month they have given me a 35%. discount on my electric rate...Xcel Energy..This month instead of an $11 charge they owe me 2 cents..I follow L&H ideas about unplugging all nonused electric things to avoid phantom electric use. Now with summer my fan , dehumidifier & window a/c use will increase my electric expense.

[@TeachingTinyDisciples]

I got sucked into prime myself. I got it during the holidays and kept it because it’s so convenient. But it makes us spend more. We had it for years and years, before it what it is now. We finally cut it and the money we spent on there dropped dramatically. When we got ir again, we spent more in a few months than in the entire year before 😮 glad I’m not alone tho 😅

[@Joce123]

It took me 2 hours and 9 minutes to finally get the Amazon Prime canceled and off of my bills. It took phone calls between Amazon and Synchrony bank back-and-forth 1 day oh my goodness. I will not sign up for it again no matter how much of a bargain that they give me for the one time use.

[@sandraboose3686]

Laundry dish liquid shampoo hair conditioner all you can save by using only half amt. Meats if you use like in spaghetti casseroles can use half. Shop deals in store flyers and other stores.

[@Michelle-bw1xg]

What a brilliant intro!! Does your recurring bill or establishment charge more to pay a certain way (such as extra % fee by credit card, or debit)? If so, consider if paying by that method is important (consumer protection, rewards) or if saving on cost is important. I was most shocked when I bought a car out of state and DMV in my state charged extra to pay the tax/registration by credit card.

[@LaManteca76]

Uff! If I pay my property taxes with a credit or debit card there is a fee of $30! I have to go in person, wait in line for an hr, & pay with cash to avoid fees. 😐

[@mypianonikki8704]

Thank you for reminding me of negotiating! There is one contract I didn’t negotiate on, yet. Let’s see, if they offer me something nice.🤓

[@emmelia-6068]

Thank you H and L ! I have to leave the live but I'll watch the rest tomorrow. Great topic and tips ! ❤

[@larryware1]

Thank you, Emmelia.

[@hollynelson543]

Ready and waiting ❤

[@dora_the_explorer975]

Hope! You have changed your hair since I last saw you. Very pretty!

[@DC-cd5tv]

Ugh, food is always a money leak. It definitely will come down to planning better and getting my refrigerator and freezer organized. I am sure this will end up on the 10% rule list to work on.

[@Joce123]

I really wanted to buy hamburger but it was $6 a pound compared to chicken for a $1.49 a pound. I had to buy packages of chicken in 4 pound packages. So I bought 2 packages for $11 that same amount of meat in hamburger for 8 pounds would have been $48. I guess I'll be eating a lot of chicken.

[@janetmacdonald2823]

Pet treats -- I simmer a whole chicken in plain 💧, cool, shred meat & freeze in treat container. Just thaw a serving overnight. He CRAVES pure meat, best 4 health ❤, compare cost of processed "grain free" pet food, ☆☆☆

[@noreenn6976]

newer subscriber, what's the 10% challenge?

[@cynthia57169]

To try to reduce a budget item, groceries or entertainment or fuel, etc., by 10%

[@larryware1]

Hope and I talk about what we've spent in certain categories for about 20 minutes then make cuts that add up to 10% savings. We did this when we were saving up for our house.

[@seekingtheminimumlevel1830]

I love the 10% challenge. "Spaving" is what we call "going broke saving money"! 😅

[@maryjothompson4578]

I called my cell phone carrier, and asked for a lower rate, and my bill changed from $50 to $25 per month.

[@GEAUXFRUGAL]

I was riding my scooter to go get a 99 cent pop not even 400 yd from my house a car bumps my bumper on my scooter that's small collision in a 20 mile an hour zone set me on a helicopter ride to New Orleans off to the Trauma center. I had eight broken bones in my chest area mostly ribs in collarbone. The ambulance bill came in it was $2,400. The expenses keep adding up. Somewhere uninsured motorist got dropped in my insurance. It is noticeable that my left shoulder is lower than my right.

[@larryware1]

So sorry to hear that, Geaux.

[@GEAUXFRUGAL]

@@larryware1 It hurts getting better but a lot of time missed.A month already gone and I was going for a DIET MT DEW refill from ⭕ K.

[@jedlevron]

😊

[@tigerlily4230]

Here I am Once again asking (borderline-begging) Hope to share what hair products she uses 😭😭 Bc mama your hair is so naturally gorgeous 😍

[@UndertheMedian]

It's called Better Not Younger. I use the shampoo and conditioner.

[@tigerlily4230]

Omgosh THANK YOU!! 🤗 Just love you guys!!

[@rockyandmiles9889]

I canceled my home phone to save $20 per month but my hard of hearing Mom can’t hear me on my cell phone.. so back to home phone I guess

[@cynthia57169]

We discussed this last month. Our landline is our only potential in making an emergency call if the cell tower goes down. Or when a family member loses a phone and doesn’t know our cell number by heart.

[@vickieboudwin7781]

@@cynthia57169 We kept our land line for emergencies. Hurricane Ida came and our cell phone did not work. Also Our land line did not work. We just have cell now.

[@charlainereynolds7113]

Check out an amplified phone for her. Most states have programs that may help pay for it.

[@rockyandmiles9889]

@@charlainereynolds7113 thank you! She actually has one , along with customized hearing aides. It’s been getting worse over that last few years, perhaps there’s a better phone option available

[@joycejackson9315]

If you're low income, you can get a 27.00 credit from a federal government life line credit. Making your home phone about 20.00 a month. Them buy a pre paid cell for whatever you feel it's worth.

[@tracyfifield196]

One of mine is buying chocolate/sweets! I know they're not good for me...but it's a hard habit to break 😢

[@dora_the_explorer975]

I turned mh internet off this month. I will use only whst my $34.41 phone plan provides.

[@GGsGarden]

No 10% challenge here; I just ask myself, do I want this more than I want to pay house off early. Cut all subscriptions, look at electric use almost daily, only one internet option (had to wait to move here until it was available; need for work).

[@donnalindsey611]

170 for TV😮

[@Hopeinthee]

I checked into Mint. 3 months at $15 and then what? Who knows!

[@tahani8721]

$25 every months our plan we pay $15 a months for 12 months as year plan

[@donnalindsey611]

The phone bill won't go down unless you lower your package on the TV and then it would still be a hundred dollars

[@UndertheMedian]

Yep. A lot of those bundling packages aren't as great as they would have you believe. You probably need to check into pricing TV and phone separately and then decide if you really need to pay for TV or not.

[@lmcr9903]

My husband.

[@nesser1352]

My husband is a money leak too 😂 that's why we don't share every bank account

[@sherrybendall5817]

We solved those arguments by both of us getting an allowance. We can spend it on anything we want. No more disagreements. Funny thing was at first he would run out of money. I save mine. He eventually became more of a saver. We have financial peace in our home now.

[@Rita_60]

I like your channel but more advise and less advertising would be good

[@UndertheMedian]

We don't control the number of ads that KZbin inserts into the videos. The vast majority of our videos are not sponsored. This channel provides a portion of our income and in order to continue dedicating 30+ hours of our time each week to creating these videos, we need to have some financial compensation. Thank you for your understanding.

[@JoAnnLeadingCloud]

I unsubscribed to amazon prime..

[@lindacowan3279]

I can't stand Mint Mobile cussing commercials. Thanks

[@larryware1]

I've never seen those, but I don't watch much TV.

[@ruthiegutierrez5991]

Yeah, I have a problem with that also. I just dont understand why some companies think this is ok.