How To Save $10K Effortlessly: 8.5 Saving Tips

[@VincentChan]

🏆 The $1000 Savings Challenge is now closed but join the wait list below to be notified of the next one → learn.vincentchan.co/save1k

[@appleb8n816]

i was in the other challenge you did and i absolutely LOVED it

[@alexandraberrouet5554]

The first challenge really helped me save so much better and have better control of my finances. Super grateful 🙌🏾

[@VincentChan]

@@appleb8n816 im so glad you enjoyed it :)

[@VincentChan]

@@alexandraberrouet5554 thank you so much alexandra! that means a lot and im so glad i was able to help

[@shi.budgets]

Similar to your pineapple pizza rule, when i spend money i like to think of it as hours worked. Say im paid $20 an hour and a candle stick is $60, would i go to work for 3 hours for that candle stick? Its a great tool

[@7Write4This9Heart7]

I do that, too! lol. It really helps!

[@zacharyrodriguez6276]

Vincent thank you, I have been watching your content extensively for close to a year now. I'm 18 and now officially have a little over 10k between my savings and investing account, despite only working part-time not making much, and being a full-time college student, you have helped me set myself up for the future and even buy myself a car outright. I even made my own spreadsheet to track my money with heavy inspiration from yours. Keep up the Good work!

[@lianalonge1984]

I save 36-42% ($1,200-$1,400) & $2,500 twice per year (or 74%) of my biweekly pay by keeping a zero-based budget. I maxed out my retirement contributions 9 years ago.

[@alarud]

coffee machine example - you forgot to include the most important - coffee beans cost to your calculation -)))

[@pinkmuffin9842]

True but in that case he would need to look up the average lifespan of a coffee machine. It is not fair to say the machine costs 68 cents per use, if you are going to use it for 5+ years.

[@alarud]

​@@pinkmuffin9842 right, calculation should be recalculated-) BTW, I am personally use V60 and believe that this is better then any coffee machine ever

[@IzzyOnTheMove]

True but a year of milk and coffee beans would still be a lot less than $1820 a year ($151 a month)

[@alarud]

@@IzzyOnTheMovefor decent coffee you don’t need any coffee machine. V60 is perfectly fine. so, one time purchase cost is 50€. still, decent beans cost a lot if you drink good coffee not illy of similar sh*t :)

[@Niafunn]

I really like the emergency fund concept. No one is ever clear where one should fall on the 3-6 months or 3-12 months people say sometimes. I know it’s personal but it is good to have a defined breakdown to psychologically switch to investing instead of saving.

[@federica.caruana]

6 months, minimum. Enough time to take action.

[@de5072]

I'm starting with 3 month/person + 1month/pet. so for me it's 7 months. But I dont go off expenses I go off my total income. Gives me more peace of mind.

[@noahsangster8280]

@@de5072 thats a good idea thanks for sharing

[@SebastianNoah5e]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

[@JulianBenjamin3d]

Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.

[@SofiaJames9H]

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

[@RubyOliverm5l]

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

[@SofiaJames9H]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@RubyOliverm5l]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

[@kjmav10135]

Vincent, please do an updated strategy for car buying. Used car prices have gone out of control. You also have to add in the life of a 10-year-old car that is only, maybe, three or four thousand less than a new car. I think the wisdom about used cars being a better deal has really, really changed since the pandemic.

[@VincentChan]

ill share a new strategy in a future video, thank you

[@ninjarooster9258]

No 10 year old used car is “only 3 or 4 thousand less than a new car”. They’re 10’s of thousands less.

[@cyrineagor5060]

Loving the concept of true cost rule where buying things/experience that bring me joy would always be worth every dollar.

[@johnl9135]

I will still going to get the $1.25 jeans at Dollar Tree, if it fall apart I still able to get 48 more jeans from Dollar Tree with that $60. I am cheap and I start to like myself lately seeing my saving grow. From a guy used to living paycheck to paycheck.

[@user-fc2xk3uv8y]

but then you have to get pairs 49 and beyond which will cost more than the 60 dollars?

[@AaronTheImposter]

Triangle rule should use an average income over like 3-5 years. Much better for people who have recently had a big change in income

[@MiciousDawn]

I work for university of California Davis and when I contribute 7% of income to my 401k, the university contributes 8%. Fantastic place to work for many reasons!

[@kjmav10135]

I wish I were half my age, listening to this! I would have so much more to retire on.

[@trackee2024]

2:50 you didn’t factor in the cost of the coffee beans and milk?

[@romeds848]

A lot of times these kinds of videos leave out information that would be crucial to save money for those who are living on a tight budget I’m not denying that he has some good advice in the video, because he does, but he’s not speaking from the perspective I’m looking for. I’m more so in a position where if I try to save $500 for a coffee machine I’ll end up having to spend it on something more important like another repair for my car

[@FeniksGaming]

​@romeds848 those living on budget don't buy daily coffee. I don't know a single person buying coffee everyday

[@allieml2614]

I do it based on how much I make an hour. So I say is this worth 2 hours of works?

[@gamereditor59ner22]

0:41 : Interesting..🤔 Substitute the amount to equal the value of food or small items. If I substitute the price of cold brew, which I make my own instead of buying in the store or Starbucks, then I can use this method of figure it out want is worth or not. Thank you! Edit: At 2:52, I have that book, and I will look into it this next week.

[@IzzyOnTheMove]

I was at a coffee shop today and realized something. For years (more decades really) I never had a problem paying anywhere from $7 to $10 (cuz Canada, + tax + tip etc) for the "fancier" drinks like a matcha latte, London Fog, cappuccino etc. but I would find it ridiculous to pa $2.50 to $3 for a regular or herbal tea, my reasoning being, if I bought a box of these and made it at home, it would be 50 cents or less a bag. But i realised more than the drink it's the action of going to the coffee shop, seeing people, being in the city, writing my diary etc that I love. If i get just a regular tea for $3 (and you can ask for a hot water refill to make it last longer) instead of a soup + sandwich + pastry + latte for $20+. Now I can go a lot more often, to many various coffee shops. I got a frother and i can make the fancy drinks at home for 50 cents each now 👍

[@X3R0NAT0R]

Been listening to your content for a while! Keep up the good work!

[@VincentChan]

Thank you 🙏 what did you think of this video?

[@GraysonNathan-v8y]

I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?

[@AbigailOliviaq4l]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash.

[@LoganGabriel6m]

The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.

[@SophiaChloé6f]

i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.

[@LoganGabriel6m]

NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@SophiaChloé6f]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@foodlover8151]

Costco sales, clearances at TJMAXX are good places. There are great food items at the TJMAXX stores. I love all their seasonings. They are basically William and Sonoma for a tenth of the price.

[@zenitzu6946]

How did this guy get me to watch 3 of his videos back to back 😂😂😂

[@yungcg19]

Bro you're actually smart!! I've never thought of this!

[@temmietaft2552]

I just absolutely love your channel!

[@IzzyOnTheMove]

pets count as dependents hence vet emergency fund. DONT get pet insurance. Save that money instead, or get a credit card with 5k-10k credit but don't use that credit unless there's a vet emergency and you can't pay it outright. Pet insurance companies always find a way to say stuff isn't covered, and most pets will not have more than 10k vet= bills over their lifetime.

[@fred5528]

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.

[@annddyyy-6920]

I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.

[@dominicleong4385]

I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.

[@leticiaenraz8514]

I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.

[@jasperflontes4289]

I'm new to this and have heard that now is an excellent time to buy. However, I currently have cash sitting in my bank account that I would really like to put to good use because inflation is at an all-time high. Who is this coach that you mention, and do you mind if I look them up?

[@dominicleong4385]

I feel this is quite an easy one. You already have her name which makes it easy for you. Just look up her name online. I’m sure you will come across her. That’s how I found her too.

[@mariocarlin8062]

on that piramid thing i don't even make it to the bottom line hahaha

[@AMHlocal]

Thank you for being a pineapple pizza lover as well

[@Deathwigems100]

For me it's gallons of gas. O that 15 dollar McDonald's is 5 gallons of gas. Transportation is the most important thing even over owning a house for me

[@IzzyOnTheMove]

Tip 8.5 is super smart!

[@jahkimgary]

my brother i didnt know dollar general had pants for a dollar gotta check that out lol

[@IronBuck3t]

Love the emergency fund explanation!

[@Niafunn]

The coffee example is flawed because you still have to buy the premium ingredients for the coffee….. but I get the point.

[@evanleemiller]

I only buy something if I’m thinking about it a week later.

[@VincentChan]

That’s great. How do you keep yourself accountable

[@evanleemiller]

@@VincentChan Stepping back before I press the purchase button gives me perspective. I get time to ask: Do I really need this? Is it going to enhance my life? Will I be better because of it? After a week, you'll know.

[@bobbylong9703]

Double your income, and cut expenses by half fastest way to safe money

[@preggie01]

Love the idea for separate email for shopping advertising.

[@Wealth-Frontier]

Very interesting video. You brought up some interesting points!

[@TheNorthernerBC]

I use hours of my life. I convert the dollar value to the numbers of hours I would have to work to pay for it. Is there something else I would rather do with that much of my life?

[@IzzyOnTheMove]

I wouldn't buy that candle stick if it was free 😆

[@GosterMonster526]

Tip 2 is basically Boots Economics from Discworld

[@yunjeanz]

finally! a new upload! 🥳

[@VincentChan]

You’re first comment!!! Hello :)

[@yunjeanz]

@@VincentChan hello! I watched a lot of your videos and I love how you make the topics so interesting and not boring, esp for someone with a short attention span like me 😎😂 Thanks for motivating a broke gen z like me to finally start saving, and I’m doing it with baby steps 🥹❤️ more power to your channel, Vincent! ✨

[@axessorise]

Yay 1000 more and you'll hit a new milestone

[@me0101001000]

This whole video can be boiled down to two words: "Opportunity Cost", which is probably the first thing you learn in any econ class, even before supply and demand.

[@appleb8n816]

wait these tips are so good what the heck

[@IzzyOnTheMove]

I got underwear and PJ pants from Dollarama 2 years ago and they're still like new

[@TattooedMinimalist11]

Dang I'm a UAW. Gotta get on it!!

[@Naturenerd1000]

When you get a pay check and your bank account stays the same ballance from week to week. Not going up or down. 🤔🤯

[@Ampharali]

Dude you are so helpful 😁

[@VincentChan]

Haha thank you! Which tip did you find most helpful?

[@Ampharali]

@@VincentChan the pizza rule, making coffee at home, when buying clothes it’s quality or quantity but only buy if you absolutely need it and if it will last long, no fast fashion or luxury brands

[@adityakumarsah3480]

your videos are really addicted

[@kevinfernandez6030]

Vincent you need to collage with Caleb hammer would be so sick 🙏👏

[@hariniika5492]

Love pineapples on pizza and beetroot in a burger

[@mhodge0890]

Always watch these videos to make us feel like shit

[@msanna4]

Yep. So according to all this I can't even afford to be alive finally.....it seems so simple for some....

[@mbank3832]

@2:19 why you divide 365 days for coffee machine but times 260 days for cup of coffee? I thought you only consume coffee Monday to Friday

[@VincentChan]

In this example I only bought iced coffee Monday to Friday for work but if I have the coffee machine at home I can make it everyday

[@mbank3832]

@@VincentChan if you only drink Monday to Friday with machine at home you would save even more

[@cristhianmontoya6648]

I kove pineapple pizza 🍕 😋

[@chrisdom7731]

Yeah, new video

[@j_bubblez279]

Ive never had a problem buying cheap things and them lasting...but maybe I dont buy as cheap as I think idk 😅

[@joshraphaelbatusin933]

*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[@sky9935]

Hello how do you make such monthly?? sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God

[@Deaf-s6l]

Saving excessively is an illness . Every tight fisted person I know are horrible ❤

[@Anzy.99]

bot

[@yosef1417]

​@ 2:05 mikeyreacts5839

[@jordanbatka033]

Gangster lad

[@misssophiamae]

20-4-10 sounds an awful lot like the money guy’s 20-3-8 rule…

[@vithalrathvagodli4912]

It’s kinda crazy how nobody wants to get out of the rabbit hole and read the book Whispers of Manifestation on Borlest

[@coricopia1145]

Cost per use is advanced girl math

[@Sportylottie]

😂

[@clive-yu]

Bro invaded Italy within 1 minute haha

[@savingsdiaryshorts]

I have been saving $100 every week in 2024 I can not wait to count my jar and see how much i saved

[@cyaneworks]

*raises hand* what if someone with bad taste doesnt like pineapple pizza?

[@infinitemoose2266]

What dollar tree sells jeans

[@snowrider9018]

i use the pineapple pizza rule but with chicken nuggets

[@Seig186]

"You dont have to use pineapple pizzas. You can use anything you love!" I love steak... SHIT

[@gfromthecast]

i’m 24 and based on the wealth triangle i’m basically destitute 🤣🤣🤣

[@ErosMorelli]

I have such a bad spending habit. It's like a disease.

[@DaDrUnKenGaMeR]

As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Sandy Barclays’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a nest egg of around 127k to a decent 732k. Kudos to the journey ahead!

[@DaDrUnKenGaMeR]

Sandy Barclays program is widely available online..

[@nelsonbim]

If the market has taught me anything, it's that it always recovers, but I can't seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.

[@MozzNik]

The clarity and precision in Sandy’s market predictions are astounding. I'm so grateful to have found her reviews here on KZbin as well.

[@JavierJumbo-jn6jg]

Sandy goes deeper than just looking at surface-level trends. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..

[@oomistooo]

Thank you for the awareness here on youtube, it shows how much you want all traders to progress as I have been thinking of selling my stock.

[@valerysanchez]

That net worth formula makes absolutely no sense when you just got into the workforce lol and it isn't a realistic stimulator tbh

[@milenasings]

Is you ever visit Italy, please order a pineapple pizza…and report back on your experience 😅 please! 😅

[@YoDaColombian]

I use the taco rule, how many tacos can I buy?

[@lethy81]

0:06 😮

[@brendalozano3490]

Salvation army my friend 😅

[@CintyCW]

This is so random but has anyone told you that you look like Eason Chan 🧐🧐🧐

[@moenibus]

Start with a good income, don't pay attention to magical thinking

[@gnd111]

20-4-10 can be easily debunked

[@Devang143-t2d]

da

[@brynnhenderson9089]

Uhm how the hell are you supposed to afford a car at all on the average income? Which is 15$ an hour?😂like with your rule, I can afford a golf cart😂

[@harmeetvirk7189]

as

[@imnugget8085]

$20 movie

[@marielli7]

Cost per use was giving girl math haha

[@panpanifyoucancan7120]

I think you just lost some Italian subscribers.

[@jesseochimana6591]

Hello Chan, I hope you're doing well. I wanted to ask if I could have your permission to recreate this video and add an extra layer of creativity to make it even more engaging I'd like to provide you with a sample edit to demonstrate how I can enhance the content and significantly boost audience engagement through my video editing skills.

[@pitushshort3456]

sd

[@BalamashawarSingh]

it's kinda crazy how nobody is talking about the book whispers of manifestation on borlest

[@tanisemmello]

❤

[@gorkemcelikbilek]

2:11 that was the dirtiest coffe machine I have ever seen in my entire life.

[@mhodge0890]

Pineapples don’t belong on pizza sir

[@angelacarraro707]

@VincentChan how do I compute my actual net worth?