Do This EVERY Time You Get Paid (Paycheck Routine)

[@DonaldStokes-p]

There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have. So, focus on other things, compounding is mostly a useless (or marginal) concept in this field

[@viviancarolgioao]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown

[@SeanTalkoff]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@Tonyrobs2]

This is definitely considerable! think you could suggest any professional/advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.

[@SeanTalkoff]

@@Tonyrobs2 My CFA Sharon Ann Meny a renowned figure in her line of work. I recommend researching her credentials further.

[@Tonyrobs2]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@jessicaeiss2541]

IN 13 days, my mortgage is going to be paid off and I can't wait! I will be completely debt free!!!!

[@pingupenguin2474]

Bit longer for me - about 16 months, if I can keep doing the extra payments. Can't wait !!!

[@2kl213]

Congratulations

[@LesCunliffe]

Congrats!

[@crystaltaylor1633]

🎉

[@akro286]

Congratulations!

[@texasskygirl7890]

Hey Rachel, when I got serious about being a good steward of my finances and paying off my debt, I started losing the weight I have been needing to lose. One area of discipline carried over to another area. The 7 steps about money are also life skills.

[@Mlanderos-t9e]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $150k. before I turn 60, I would appreciate any advice on potential investments.

[@Anessa-gibson]

Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.

[@tcortez_70]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $175k to $650K.

[@teresafields41]

I would like to ask, how did you achieve it? I've been trying to stick with index funds. I feel these new interest rate hikes could crash the economy. I'm looking for a better investing strategy, as I have a lump sum that inflation is steadily eating up.

[@tcortez_70]

Teresa L. Athas is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@teresafields41]

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

[@acidblinkz8210]

Video starts at 2:45

[@tanjacavlovic8053]

When I was in debt, I thought I will never come out of it. It looked unachieavable then. But then it was done. And I reorganised my life while doing it so it was more fun. I didn't deprive myself, I was out in sun more, taking walks in parks and nature instead of sitting in dark bars or restaurants.

[@Joce123]

I can't think of a more boring and wasteful action than walking in nature..I get energy from being with people.

[@rachelmunoz]

@@Joce123 it’s even more fun to walk in nature with people! My fave activity actually!

[@tanjacavlovic8053]

@@Joce123 Yup, that means doing that stuff with people. Also sitting outside in cafes for a cup of coffee (1.6€) with them, I am from Europe. Also sitting on a bench with neighbours on children playground, assisting them or keep an eye a little... And helping elderly in the community, walk with them... And helped immigrant families set up their printers for children for school, etc...

[@NathanDunlap-j9w]

Good job for you.❤5.0

[@pspears2153]

You're a precious soul! Ignore the negative! God Bless!

[@MorrisHuwit]

I was homeless, got into drug's went to prison and then I got to know Jesus and he changed my life...Heaven came through for me in my finances too, getting $36,000 in 2months . I can support God's work and give back to my community. God is absolutely more than enough! Now I have a new identity and a child of God.

[@CharlizeAfrica-or2ek]

Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God...

[@MiriamLogan]

I work at a restaurant here in Houston Texas. Things have been really difficult as I'm a single mom and trying my best to pay bills and take care of my daughters..

[@markreuss719]

I know this lady just mentioned here . She's really good with and on her job. She's helped a couple of families and individuals' finances.

[@NatashaMurphy-zf5rj]

YES!!! That's exactly her name( Mrs Claire Morin) so many people have recommended highly about her I'm huge beneficiary of her platform from Brisbane Australia 🇦🇺.

[@HeadofaccountingDepartment]

I'm from the Netherlands Amsterdam i used to take loans from my bank for survival but after investing with her I'm Now a credit not a debtor anymore....

[@LeLe-hd3kf]

Remember praying to God about becoming debt free years ago. Well today, just paid 8k to end my vehicle loan. I am officially debt! Praise God. No Mortgage, Car loan, only a credit card. It did not just fall out of the sky, it took discipline and ending the instant gratification mindset.

[@GraziaMacahilas]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[@TheodoreMateo3h]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@CharlesLiamh1p]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@DeborahMicheal6k]

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

[@CharlesLiamh1p]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@DeborahMicheal6k]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@Singlerose55]

Watching as a server without a conventional paycheck...cash tips are my spending money, credit card tips (deposited into bank after my shifts) go to my bills/debt and, my "paychecks" go to my sinking funds in a HYSA. Using the envelope method I went from $15 debt to $5k in the bank and a new to me car payed in cash. Next is retirement and investing 😊

[@egr3071]

Wow that’s awesome! Are you a full time server?

[@TommyTombstone]

I would argue that your next step is to get a more stable income. With no debt, the priority should be to get into a home, AFTER you get your full emergency fund of 3-6mo of expenses. You've done great so far!

[@edwardgaiennie8956]

I didn’t hear the envelope method. What is that?

[@billandmaryoshea6532]

Survived being a single mom on your dad’s tips. I love the way you are moving these ideas forward and your “kinder, gentler” style. Dave trips me out and it was an honor to meet him, AND there is room for all styles! ❤u

[@donnaallgaier-lamberti3933]

When my husband and I married at mid-life in 1996 (I was age 46 and he was age 50,) he was in significant debt. He had no budget and was living higher than his income. He was the youngest of four of an Italian family (they spoil their boys! and he was not taught to budget.) My husband and I "reconcile" our checkbook and finances once a month. This keeps us on track. Once a year we redo our annual budget. This has been critical not only to getting back on track for daily living and retiring but also to have peace of mind. He can live in debt and not give it another thought....but debt gives me intense stress and anxiety. Right now we are focused on paying off our condo mortgage.

[@GretchenTerrey]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@ReginaDominique]

It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.

[@SlavoPetrovic]

How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@ReginaDominique]

Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@StalinGrabovsky]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@bjreeves-kempf6940]

make sure to do a roth check out what that means and study how that improves your like in retirement. Many advisors will say dollar cost average into the market over a period of time. the money you have in an FDIC insured bank get bonds 5-6% right now and use that as the tool for receiving a return while waiting to drop into the market.

[@rhondavigil795]

Debt free and mortgage free. Early retirees. We budget using excel. We get paid once per month so it is important to stick to the plan.

[@OPCollecting]

I budget using excel too lol

[@Kyriecat12]

I do too! Life saver. Love it!

[@wjb-wi6dt]

I used excel for a long time, and it works great for both setting and tracking. I just recently switched to a free app based on the envelope system because I can use it right as I'm spending instead of recording things when I get home. I think the important thing for anyone is that you need a system that both sets the budget AND tracks it in real time.

[@Kyriecat12]

@@wjb-wi6dt I usually record as I go...but there have been times I have waited until home. Whatever works for you!

[@pattyajones]

Same

[@careyf7859]

Emergency fund, and credit cards paid, now im working on my car, and mortgage

[@Redservasian]

Baby step 1: 3:01 open every dollar app 3:10 plug in total monthly 3:21 cover four walls 3:35 plug in debts and min payments 3:53 cover expenses in priority order

[@Redservasian]

Baby step 3-6, 4:33 if renting or buying, go to down payment on home 5:03 every dollar 5:08 four walls 5:13 invest 15% retirement 5:45 kids college or pay off house early, save for car or vacay 6:11 anything extra goes to mortgage

[@judyjohnson1012]

One thing I did years ago was when we finished paying off our car, I thought, I’m sick of making car payments😳. So I started making a car payment to my savings acct each month. I have been able to pay cash for the last several cars that we’ve bought. Yay 👏🏻👏🏻👏🏻 what a great feeling!

[@Donna-vb5rr]

Rachel .. first time …watch your show … thank you 🙏🏼… I’m going to try this .. I’m 74 on a fixed income .. going to get started first of the year … 2025 !!!🎉 my debt is causing me to be physically sick … 😢. Blessings and love 🙏🏼🩷☀️

[@ms.ashley7643]

I would like to see a budget where the take-home is $1200 every two weeks

[@michellebeno6577]

She has videos on different budgets, I saw one for $3600/month

[@natureshealing6534]

Me, too, Ashley!

[@Bestpartyevernash]

Have you talk to your HR to make sure you are not letting IRS withhold too much during the year

[@angelamilliken2992]

It's fairly simple...you have 100% to start with. Take $1200x2=2400. Take $2400x35 for housing expenses (payment, utilities, insurance) $2400x 15 for car, (gas, insurance, repair), 2400x15 for groceries, leaves you 35% left for miscellaneous, clothing, allowances, insurance, etc. It can be done. My parents do it but they own their house with no house payment....

[@daniellebeck8322]

This is about what my husband makes, and we are struggling! We have 10 (natural born, nuclear, biological) children 13 and under and I'm a stay at home mom. We do own our house, and all our vehicles outright. We have one credit card to pay off, a line of credit with a farming company and a loan we took out to cover a new roof and some brick work on a building we own.

[@rebeccajacklin3976]

What I wish my parents taught me is that unexpected expenses like needing new tires, etc are going to come, the only unexpected part is WHEN they are going to happen. I'm trying to tell my kids this. Save for the unexpected!

[@allikat1352]

Exactly. Tires are not an unexpected expense. Niether is Christmas, birthdays or school starting.

[@curtispavlovec]

This is exactly right. There’s nothing “unexpected” about consumables needing to be replaced.

[@jessicasky6775]

YES! You're so right. I have a have a "car maintenance" fund that I contribute to monthly. I take into account my bi annual car insurance payment, registration, smog check, oil changes and leave room for extra expenses that may come up. If there's anything left over at the end of the year, I just keep it rolling. Eventually, I'll need a new car so that I'll be able to use that extra money.

[@juanitagonzalez9289]

I’m was never taught by my parents but I’ve always liked math although I have gotten myself into debt. I was a stay at home mom and now at my 52 I started working. My paycheck is for my expenses so I pay my vehicle and everything that is about me. My truck needed tires so instead of using a credit card I took money from my savings and financed them to myself. Now I have my payment on autopay to go back to my savings. I just couldn’t bear to see more debt.

[@angelasepi657]

@@juanitagonzalez9289 Can't blame your parents for everything. You can't be spending if you have no income. Simple. Spend less than you make when you start getting income.

[@brg2743]

When buying a house, buy quality buy a lower priced one. You can always get a bigger one later if needed.

[@bunnobear]

Yep that’s what we did 30 years ago and never moved, put the extra money into kids education and now we are renovating to make it new again, not wasting my money on taxes

[@laqueciawilson6381]

Do you recommend new construction or an older house?

[@brg2743]

@@laqueciawilson6381 Either one. Just get the best deal. If it were me, I would get a home inspection too.

[@James-qt9dj]

It’s hard to live life with high home expenses… plus bigger homes have higher taxes and higher utilities! We keep it cozy and save $$ and travel more.

[@James-qt9dj]

@@laqueciawilson6381in my experience you pay less for old house but pay more for renovations and maintenance… just buy the best house in your price range regardless of old or new. Location matters most! Lots of old homes have great school districts.

[@letty4558]

Love your channel Rachel, I have unfortunately been knocked back to Baby Step 1 due to temporary job loss. I am back to work and even though I had to go through my emergency fund, at least I had it. I am back to work and just gonna get back on that horse start over.

[@Ceredirond]

I just got rid of my miscellaneous category thinking it went against the spirit of spending with intentionality and now I want to rework it back in because last month that category helped alleviate going over what I budgeted to spend in certain categories

[@joanebf]

If you don't have a miscellaneous category you assume your budget is perfect, which usually not (maybe never) the case

[@zd1306]

Giving is so important!!!!! I love this, Rachel

[@ErikaBailey-x8g]

Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.

[@StalinUndav]

I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience

[@NikitaMcLauren]

Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.

[@StalinGrabovsky]

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?

[@NikitaMcLauren]

Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@EnriqueCarrasco-z3j]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing

[@childofgod8365]

It is very encouraging to hear it took you 12 yrs. It is doable. I just need to follow up. I will be debt free in 2025 and am doing baby step one parallel

[@119Agent]

my wife and I have a fun money budget. It covers eating out and alcohol and any prepared meals. Managing that budget has really helped us save. Those things can really get out of control.

[@mevestiller]

I really need to see what people are budgeting for groceries and household items. I feel like we spend sooo much in these areas

[@marianoinigo]

Thanks for the educative video I'm so glad to share my experience here. I first got into BTC back in 2019 and I was hodling/buying sats at different price points. but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 20k and I’m up with 300k in a short period of time all thanks to Rolando Diaz.

[@BrunoAvert]

It's amazing that you got to know Daiz, I started my trade with $15,000, a week later, we had grown to $55,000. This man is absolutely a genius.

[@Robert-v9y8t]

Yeah!, Diaz was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Rolando'Daiz. He is my number one source when it comes to crypto and TA.

[@Calvin007-n5l]

This is not the first time I am hearing of Rolando'Daiz and his exploits in the trading world but I have no idea how to get to him

[@marianoinigo]

he's mostly on Telegrams using the user.

[@marianoinigo]

@Diazprox THAT IS HIS USER NAME

[@larryherbert252]

I’m retired, my car loan was paid OFF YEARS AGO, l have a mortgage, will pay that off in 2 years or less, no other debt- real good advice in this video etc

[@mccoyhunt1830]

You, Dave and George for the win!

[@sheepsheadmary4673]

Live now, the Golden years are not Golden.

[@Bobhenry-c7z]

Rather of relying on penny stocks, I wish to diversify my assets by investing in ETFs/index funds/mutual funds and stocks of corporations with stable cash flows. I received $400k from the selling of my property. What should I do?

[@VanPelt54u7fcyde57]

I’ve diversified my 350K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $730k in net profit across high dividend yield stocks, ETF and bonds.

[@jamesfriedrich1150]

I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

[@dogmom-pt5we]

@@jamesfriedrich1150 Please will you be kind enough to share the details of the man that helped you?

[@jamesfriedrich1150]

Bella Mia Darmon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment

[@dogmom-pt5we]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing.

[@Georgina705]

I'm so excited I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life

[@AIIG-zd5dx]

Please how can someone get started, I would be glad if anyone here can explain a few things to me about investment?

[@adamdouglas9888]

In my case Fergus Waylen has assisted me in doing that effectively, I'm not an expert so I lack experience in investment strategies, I work and my consultant handles the rest..This approach has helped me stay finan-cially secure for over five years,

[@raphfelimax2713]

I am surprised that this name is being mentioned here, I stumbled upon some of his clients testimonies on CNBC news last week..

[@findingpath8362]

What impresses me most about Fergus Waylen is how well he explains basic concept of winning before actually letting you use his trade signals. This goes a long way to ensure winning trades.

[@charles2395]

YES! that's exactly his name (Mr Fergus Waylen) I watched his interview on CNN News and so many people recommended highly about him and his trading skills, he's an expert and I'm just starting with him....From Brisbane Australia

[@Qiana-ng9jv]

The investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.

[@RimaFawver]

Despite the fact that I invest, I am saddened by my inability to evaluate each company's performance and determine whether or not this is the ideal time to purchase stocks. My monetary stockpile is being depleted by inflation. At this stage, I need accurate market trajectory data, but I'm not sure what to do.

[@Gsbsbdhddbdmdndk]

Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.

[@gahshdsjdndnjd]

That does make a lot of sense, good for you though, unlike me, you seem to have the Market figured out. Who is this consultant?

[@FemkeDugal]

I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over $576k figures working with an investment coach for more than two years.

[@Doria-do1nf]

I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@KelvinBerlin]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024

[@shaneyanimations917]

This is very well done. I like the way how your budget changes depending on what stage you are at.

[@Karli4Sure]

Great! I can’t even do this. I’m so behind I’m way in the negative. But it is what it is. Baby steps to just live.

[@Sjaadbeis]

Thank you for doing this! This information is so helpul! Really admired how organized and you already been doing this for 12 years

[@bunnobear]

Step 7 here, love your budget videos as I always pick up tips, I have a misc category in my budget and you are so right :) can you do some budgets for people within 10 years of retirement.

[@pattiehh913]

Please address the needs of seniors

[@allikat1352]

The needs of seniors are the same as the needs of everyone else. Maybe the starting dollar is different, but how you schedule the spending should be the same I would think.

[@MysteryRender]

Following the dave ramsey plan now and we have more in savings than we ever did! We don't go out anymore, we stay home and only cook very low cost food items like rice, beans, cabbage, celery etc. We don't go on trips anymore, we sold our cars and now share only 1 car that has 300k miles, no bumper, still kicking! We moved out of our apartment and now just rent a room in a house. We don't go to the movies anymore, and we never eat out or get drinks like we used to. We never spend anything on entertainment either. Gazelle intensity!

[@finny_]

Well I put 30% of my earnings on options and stocks, options alone gives me half of that weekly so I have reserve and money working for me daily

[@Ahmad-b9q5x]

How does options work? Is it trading, can you please show me how to start mine

[@finny_]

Yes trading, but I’m not the one handling it… I have an expert who does that

[@Pauliy1]

Stocks is one very big and secure way to invest and grow money trust me

[@Ahmad-b9q5x]

@@finny_ thanks for the response, who helps you and how can I get started also

[@finny_]

Benjaminravies that’s his gmal

[@cheekysaver]

I am disabled and have no debt. I keep a running excel sheet and copy and past and put a new month at the top... variable expenses like electric I keep zeroed until it shows up... ( okay... I check my account every weekday right before it is due to come out... i get the amount before all the billing info is posted. ) All bills get paid in full first thing on payday in full.

[@renz3748]

Coincidence that this video comes out a day before my paycheck :)

[@edithrice4671]

Love. It. ❤. Thank you. This is way better than everyday routine videos I’ve watched. Boy those are cathchy.

[@peglang9329]

I got us out of debt by writing down on the calendar all the bills on there due dates I am a visual person as each one clears the bank I check it off on the calendar then if something comes up I can feel comfortable saying yes or no we have the money because I know what has cleared and what I need to hold for bills per say

[@Melanierose.821]

I liked this video. I'm good about the four walls and bills. But then I prioritize the small expenses over the large expenses. And then I'm scrambling to afford a birthday or Christmas. Thanks for the video.

[@ncrob391]

Have you seen Rachel's video on sinking funds? It's where you set aside money during the year for expenses like Christmas gifts, property taxes, etc. so you don't have to scramble when the time comes to pay for them. I've been doing this for two years now and it's a game changer.

[@Melanierose.821]

@@ncrob391 yes, but I prioritize my smaller weekly spending first. I'm working on increasing my shovel and in the meantime this video helps

[@pe8841]

@@ncrob391nice job

[@AdaE-x1h]

Beautiful 👏🏾👏🏾 Mature, Single and Cash-Wise from Amazon was also helpful

[@cmorgan0730]

Are you dying Rachel is single? Cause she definitely named her husband.

[@reggiecornils4651]

My first check I write after the paycheck comes in is our tithe . My husband taught me this when we first married 40 years ago.

[@srobin7200]

Yes that's something I'm looking to get better at because Thanking God in ways especially at Church and the blessings double and triple out of nowhere sometimes 🎉🎉🎉

[@natalierodriguez8920]

I really needed this video. It answers a lot of questions and explains how to use the budget practically for where I am in the steps without getting overwhelmed. Thank you!❤

[@COOLIKEDATAZIAN]

Great Tips!!! Definitely love the Every Dollar App and it’s my first month and my anxiety level doing my budget has lessened a little but with consistency it should go down more. Thank you!

[@srobin7200]

Hoping to get to this level 🎉

[@troymyers5181]

I thought it was interesting that you put giving as the #1 priority in your families budget. I was taught to always take care of yourself/expenses first so you're able to help others when you can. I'm not disagreeing with how you ranked your families priorities in the budget but like I said i found it interesting. Did enjoy the video, trying to be more responsible with my personal budgeting and got very good ideas from the video.

[@jeremyraber4057]

This video was extremely valuable for me

[@Recovery12Life]

Its important to understand that if your new to budgeting your going to need several months to adjust your budget to what will actually work, when we started we had zero for medical costs birthdays going to the beech and things that just come up in life thats not an every month thing like school supplies

[@nae4830]

Thank you for this! Really like that you included what debt free budget looks like.

[@nae4830]

With so much “free money” how do you determine your budget for clothes, for example?

[@TheVosack]

I have no debts so I'm personally investing 40-45% of my income every month.

[@marcellaalba768]

Hi Rachel, could you please explain the concept of giving?

[@micah1179]

I clean houses and so my income changes like if a client cancels. How does this work with EveryDollar? Also, this is our first time doing a budget

[@James_Wotring]

Thanks for the video Rachel!

[@DC-ef8op]

What if you need a car, do you start all over with the baby steps? I will never be able to save going this route.

[@yusratadeoti8531]

If you have one you can manage, Pay off your debt first. Then save for the car.

[@mariacorretge6615]

I love the budget videos!

[@Paolagonzales3114]

I feel like if you’re a believe then yes giving is first once on step 7. However, should t bills go before saving… whatever you have left after the important things can then be saved to upcoming events or holidays

[@hartsarah12]

This is the first I've heard of a step 3B. I think it is a little late in the game since i am almost at the desired 20%. I lumped this into baby step 6 a few years ago.

[@chocolate.espresso7]

Thank you Rachel, you're a joy to watch ❤ Btw, I love your sweater ❤️☺️

[@drlisa3]

I love this so much! Thank you Rachel!

[@John-bd9fj4435]

Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.

[@minimalist5555life]

Unfortunately here in Australia I can't access every dollar app. Wishing it was accessible

[@guccigang6984]

Yes mommy whatever you say I will follow just say the word

[@utorrent01]

Always just go 100% Miscellaneous. This is true freedom.

[@lennonjuaniser6308]

Very well explained

[@ChaimS]

I'm glad you use every dollar, I just wished you would be transparent and say that it's your app, not pretend like it just happens to be the app you decided to use for some reason.

[@kofii567]

I’m at a place in live where I can finally give, and would love to give to charities like st Jude, Doctors Without Borders, homeless shelter, others.. but how can I do that when the rest of my extended family could also use some help as they have not been as fortunate in life as I have been? I do struggle with this a lot! Please help. Thank you 🙏🏾

[@johnmorgan3590]

Giving is just a budget category, just like the 4 walls. If you have multiple areas you want to give. Write them down, take your monthly giving budget, and divide the money up in those categories. Your money is just a tool that works for you how you want it to. Put it to work 🙂

[@cherissef5297]

Is the 15% to retirement from Gross pay or Net pay? Same with 15 year mortgage, 25% of Gross or Net pay? ? ?

[@PrinceJayMoriarty]

Gross

[@yourdancebyd8864]

Did I miss something? Should we not be giving or tithing until we get to baby step 7?

[@ronchristensen9832]

I believe Dave recommends doing tithes and giving of ourselves all along the way. We can just give more when we reach step 7. Because we don't have debt holding us back.

[@Lilia-jb6jc]

Great ideas! How about including ideas for seniors

[@Joce123]

I grew up in Minnesota. As far back as 70 years I can remember I have always been bored to tears "being out in nature". Not fascinated 1 bit .

[@basil8760]

Great content. Educational n interesting. Key factor for me, will have to apply your recommendations. Also, I’m already retired, so I don’t believe I should invest in retirement. Don’t own a home or don’t have kids in college, so that doesn’t apply to me, but all the rest is very good info though. Enjoyed it.🥰Subscribed.

[@kenny815brown]

Mom of 13!! 🤔 did anyone else catch that

[@walkbyfaithfamily9177]

Question! Do you wait to tithe until the house is paid off? Just wondering if I understood this wrong this whole time. We definitely would have our house paid off by now if we were not tithing... but it doesnt seem right.

[@ronchristensen9832]

I believe Dave encourages us to do tithes all along the way. We need God's blessings the whole time.

[@Nanime89]

I would put how much I get paid monthly, but it varies… depending on if I do OT or not. Sometimes is mandatory or voluntary or there might me none. Not sure how to do it.

[@GaytriMohabir]

Thank you for this video. I will try to use some of your suggestions

[@pennylane36]

So if you get paid March 8th and 22nd, how do you use march income to cover march expenses, I.E. Bills? I'm still trying to figure out how people do that. We were paid feb 9th and 23rd. those checks cover March bills and feb expenses. feb covered march and march covers basic through the month like gas and food and all bill due in April. I will pay all April bill on March 22nd or the 25th. Thats how I do it!

[@pennylane36]

@@PorschegirlEst7 we’re kind of in a unique situation. We have no debt, no credit card or car and our house is paid off. All my bills for March come in before the last paycheck in feb. My bills are cell phones, Comcast( tv, Internet, landline) Water, power,garbage. My cell bill and Comcast are emailed to me on the 20th and 21st. Due 7th & 18th My light bill comes around the 15th (feb)and is due end of the month. Garbage comes same time as light bill and due end of month as well. The only bill I have that come on the 1st is my water bill and it’s due the 15th All together it’s less than $600 I pay them all with the last paycheck of the month for the month coming up, and I estimate my water bill, typically paying more than the bill. I keep a budget book, subtract the bills from checking balance, leave a set amount in checking to cover expenses, ie food, gas etc, and put anything over that into savings. On the 5th of every month they auto deduct home owners insurance I just paid first half of property tax in feb and the second half our tax return covers when that comes in. Car insurance I pay in one lump sum Car tab renewal in this state is only $68 per vehicle so that’s an easy budget in. I try to pay all the big bills like property tax and car insurance in Jan or feb so I don’t have to think about them the rest of the year.

[@tylerparks5656]

Is it 3-6 emergency fund and then the downpayment saving, or downpayment and then 3-6 emergency fund? Im thinking the first one but would like clarification. Thank you in advance.

[@cindyfischbach4675]

Curious why is paying off the house is the last thing?

[@maxwelmactuttleb8745]

I'm 60, have a physical disability that would make a 2nd income near impossible. I make barely enough to cover my "4 walls" as you say. This includes two tiny chi-mix pups. Near impossible to save in this economy, and I'll never be able to retire.

[@jasona4853]

Question. If you are 50 with $4 million invested 50% in etfs based on broad indexes (Dow, Spy, Nasdaq) and 50% money market. Is this $ enough to retire? I rent a 2 bedroom apartment, no debt, no kids. Thanks.

[@Freebirdpr]

Awesome public service.

[@spergaliciousstrongman]

I would like to add one more thing in here that she mentions regarding the miscellaneous category for a buffer. I use a miscellaneous category AND I have a bank floor category. I use the miscellaneous category for everything that doesn't really have a legit label, but I put $100 for a bank floor that stays in there for transitioning from month to month. This makes sure without a shadow of a doubt that there will not be any surprise overdraft fees. I could put it to $50, but I like round numbers, and a little extra cushion can pay off in dividends if things ever go sideways. Nothing goes in this category, and nothing gets spent here, it's just something to allow for fluctuations that the miscellaneous category might go over on at the end of the month. Once you get everything down to an exact science and you're actually ahead in life then go away from using this since it will become less of an issue. But early on if you can design in some extra padding, it won't hurt you in the long run to have that there.

[@mirandaochs1830]

I was lost after home security system 😂

[@happyappy19931]

😂

[@elainec3314]

What a good video! Thank you !!

[@joshua-zj1ks]

Why can't we get the every dollar app in the UK 😢

[@Leiwen168]

Why just put all 15% into retirement and not some stocks mutual fund, where you always are able to control when to potentially pull out?

[@kristinegreen4474]

I am retired. I did not want to but had to. My social security is the only thing that comes in. I do have savings and a CD. My spouse has was approved for disability so has a regular income now. He has many investment. We live in a small apartment and lease one car. After we are done the lease we will buy and be done with leasing. I am in better situation now financially. I have down sized bad habits. It is refreshing and can finally sleep at night. Lastly I tithe. I am a giver and generous. It always pays to be kind, generous, smart, and patient.

[@anthonygordon7428]

Do you recommend opening a ROTH outside of your place of employment?

[@pinkorchid333]

love it...just subscribed!

[@johanbekker2917]

Another question, sorry...I am a real estate agent in South Africa, so we obviously get paid when a sale registers. How does this impact on the paycheck routine, especially now with our tough market (prime is 11.75% currently)

[@ChilledOut]

I’m in Australia, we get 11% compulsory super employer contributions. Do I contribute 4% to make up the 15% or contribute my own 15% on top? I will add we are capped for pretax contributions so technically the most I can add is 11%

[@jejrstans]

I'm pretty sure you contribute the max of what you can do, so 11% for your pre-tax. Then, my guess is that Dave would say put another 4% in a Roth IRA equivalent. They are after tax investments. That would be your 15%. He might suggest a different proportion for the pre- and post-tax percentages, but I don't know.

[@ChilledOut]

@@jejrstans thanks I appreciate the advice