Common Money Mistakes and How to Avoid Them

[@flowerlymom8400]

I’ve met one of my goals this year and am so happy! I paid off my credit card! My next one will be my personal loan and then auto loan. I’m trying to work on getting my husband and I debt free!

[@lindadenneypu6315]

Congratulations great work I'd b doing a happy dance

[@marilynpeppers1356]

Is your husband supportive?

[@v113d94]

Congratulations, continue to do a great job. May our Sweet lord bless you as you tackle the next debt.

[@stowie7733]

I didn’t have the greatest role models when it came to budgeting. If I had money in my pocket, I would spend it…sometimes it would be spent before I even got it on my pocket. This led to years of robbing Peter to pay Paul and raising two kids without child support regularly. I’ve finally gotten out of most of my debt and I’m on a plan to pay my debts off within 3 years (5 years if I count paying off my home). I’m also looking into a part time job (while being a part time day care for my grandchildren). I’m going to crush this debt because failure is not an option!!! Love watching your videos and continuing to learn so much!!

[@anneard1674]

I lost my hubby of 55 yrs last year and I have to smile when I watch Larry as my Jerry wore colored undershirts too and always had pens in his pocket. Hope treasure him every day. Also we had no money either when we married.., well he had $300 and that is what the guy who sold us our first trailer said was the downpayment.... so very early on my JOB became making HIS income go twice if not three times as far as most expected it to go. Also my Daddy always said "We pay as we go or we don't go."

[@mandy3486]

I was laughing because he had two pens. I'm a nurse and a notorious pen thief. Always end up with extra in my pockets 😂

[@Homegrown_Hillary]

Having a “if over this price, discuss with spouse” rule was a game changer for us. We were so broke we set it at $10, and we actually just upped it for the first time in June, five years later! The accountability and savings were both essential.

[@cathyphillips679]

I loved what you said about not giving away your skills for free all the time. When I was a kid, my parents owned a marina and word got around that my Dad had fixed someone's boat for free to help them out. As you can imagine, the requests then flooded in! My Dad had the best response....he told them that he had to make money on his friends, because his enemies wouldn't shop here!

[@UndertheMedian]

LOL! Great response.

[@lindadorman2869]

My dad taught me the “best/worst case” concept. When you’re faced with a situation, ask yourself “What’s the best that could happen? What’s the worst that could happen?” If you prepare for both outcomes, you can handle anything because the reality is it will probably be somewhere in-between. For example, I wanted to clean my expensive down comforter but the tag said “dry clean only”. I didn’t want to pay $20+ so I decided to machine wash it and see how it turns out. At worst, it might get ruined, and I’d have to buy a new one. But it turned out just fine - I saved money and learned something in the process.

[@marilynpeppers1356]

My brother used this when we would discuss a situation. He’d say,”What’s the worst that could happen? They can’t shave your head and put you in the Marines!”

[@annevans5547]

My first job was at a $1.60 an hour back in 1969. Then I went a new home that paid $2.40 an hour. I was a care giver at that time and the first home got closed down. I worked there till I was pregnant and I had to quit.I had made enough money to buy car for for $500.00. in 1970 then.Then I got married 1972. My husband was making about $5.00 an hour. My Then Ii had 4 more children. I didn't go back till my oldest was 14 years old. At times I had $20.00 dollars a week to. Spend a week. We made it. You can do it to.😢

[@americafirst9144]

You can buy special down wash soap. You should also dry it on fluff. Many drycleaners don't/won't dryclean down comforters or quilts. They wash them. Always ask them.

[@KC-dr3cg]

Dale Carnegie wrote a book on that how to quit worrying and start living your life

[@KC-dr3cg]

Wow 1969 I was a telephone operator in my senior year of high school earning $2.75 hour.

[@vegasregs1620]

An interesting thing you said was thinking you were middle class because you were living like middle class even though you were over spending . How many people are doing that and all their family and friends around them are too? You guys say lots of interesting things but that one just resonated with me.👍🌈

[@amytorgersen9800]

Our “great big goals” at ages 48 and 45: cash-flowing a second and more useful BA degree for my husband, a first associate’s degree for myself. AND saving for a home AND saving for retirement. We are a single income, homeschooling family and making it happen! Thank you for the fellowship. Living like this is a lonely journey!

[@AmazingDogMom]

Amy, we are 45 and 46. It's nice to see that we are not alone in this journey at this age (not meaning that we are old but later in life 😂)! Honestly, sometimes I feel like we are starting too late in the game trying to buy a home and saving for retirement. It causes a lot of anxiety sometimes so thank you for sharing 🥰

[@KC-dr3cg]

​@@AmazingDogMomYour future is possibly going to change..different geographic area. ..stroke of luck..

[@sheilafreisthler4421]

I have two goals that I’m working towards. One is to repaint all the bedrooms and put carpet down. The second, and more expensive one is to replace my old asphalt driveway. Hopefully I will get each of these goals within the next few years.

[@lynjaggi7204]

Self control with spending gets easier with time as we see the savings begin to add up and help dig us out of debt…it’s SO encouraging and challenges us to keep at it with even more resolve to use our money wisely and let it work for us. 👍🏼

[@ShinySilverBunny]

I am about 1-2 payments left to paying off my CC and it feels great!! Ive worked so hard this year and looking forward to building my savings for oncenin my life. It truly does take a long time to retrain the brain in changing our behaviors and thoughts. Im very content with what I own and thankful im over that spending like a teen phase of my life. Excited to building long-term financial stability and increasing my education as well to increase my income and improve my quality of life. Thank you Hope and Larry for all you do amd Congrats on the KZbin Award!!

[@Joce123]

I am working on the same issue. Inflation has added stress to my paydown plan. Under the Median podcasts help me come up with more ways to cut spending...when I thought that there was nothing else to reduce. The advice to be watchful of life creep is especially important to me.

[@juliekeenum5016]

To me, getting started is the hardest. I pay our bills every month and I pay on time. My problem is I love to spend money too. Home decor, FB Marketplace furniture, Walmart trips for a little of this and that. I just can’t seem to break the habit. By the way I’m 58 and wondering if you really can teach and old dog new tricks.

[@ittakesavillage5461]

Hello from San Antonio Texas! We are a military family & I love your videos

[@lindacgrace2973]

My big goal: build my own little retirement cottage. Not only do I get exactly what I want, rent always goes up but that mortgage never does. And, with any luck at all, I can get that paid off early so the property won't be a "poisoned chalice" for my heirs. I'm an apartment dweller now, and I yearn for dog and a garden. Wish me luck!

[@joycef8443]

Good Luck!

[@lindacgrace2973]

@@joycef8443 Thanks!

[@gardenfaerie9903]

Watching your video I've finally realized what I've been struggling with... it's those stinking Money Moles!!! LOL!

[@sylviajones4907]

That's right! Now we have something to blame for our lost $. Thanks, Hope! (& Larry). Y'all are a blessing to so many.

[@rochellethundercloud346]

One common money mistake is buying cheap,poorly made,lousy quality items,rather than what actually works as intended. Another is buying way more than you can ever possibly use

[@pheart2381]

If something appears a bargain I always check the reviews. People are brutally honest and a bargain can turn out to be a bad investment.

[@americafirst9144]

Often buying something of good quality saves you money in the long run. While many of my clothes come from Walmart and thrift stores, I look for 70-80% sales for certain items (usually coats and shoes.) They often last 10-20 years. I have good clothes I've been wearing for 25 years. On-line consignment stores are another option.

[@fredswartley9778]

Thanks for being transparent and admitting your mistakes. You have learned from your mistakes and that's what is important...You started becoming intentional about using your money, and that's how you made progress and moved ahead.

[@Rita_60]

I can relate to all of those mistakes you guys mentioned in this video. We realised very late that these mistakes we made all those years , cost us a lot. It is not easy to break some habits and change the bad behavior about spending and finances. We “woke up” a bit too late but I pray that we can get on the right track and move on to better financial future. Thank you for listing your mistakes( I ‘ve done every single one of them) and most important giving advice how to avoid those mistakes in the future. Love your videos and your way of approaching things!❤

[@retrosuze]

Thanks Hope & Larry. I'm almost halfway through paying off a personal loan. Better get my next goal prepared now ❤

[@glendagrosjean477]

"Eye of the Tiger" haha! Laser focus - that's where I'm at! Great connection!

[@monicayoung42]

We have a budget that we put spending onto almost daily. We adjust where we need. We have a list of every thing that we have brought since January. It really makes you examine and think twice before you buy. I’m always trying to buy less every month.

[@barbchumbley9142]

Great video!! Oh how I wish we knew then what we know now!! 😂 At least we finally learned to do much better. We did have a budget for bills, insurance etc, but blew everything after those were paid. Still trying to stay within our budgeted amount for groceries, gas, unexpected things, eating out 1 meal per week.($10.88 at Wendy's for both today.) We decided to stay on budget and not raise the amount. We are paying off our car in November, but hate to let go of the cash in these uncertain times. Keep up the good work in reaching people who need to hear these things to change their life!❤

[@marycatherinewright174]

Thank you for the honesty of this video! Sending it to someone I know who is struggling ❤

[@Smooshes786]

I am embarrassed to say our next goal is not decided yet. We have to get another vehicle but not urgent so we can save/look for best deal. Our mortgage can only take an extra 10% payment annually. Our garden boxes are built and started: I think we are in need of a review- that’s my new goal. Been a busy couple of months- 30 minutes can be found! No excuses! Thanks!

[@HappiCat007]

You guys inspire me and I’m making changes slowly, but surely to the way, I handle my finances! I thought if nothing else osmosis, right?!Hope, I remember you from a long time ago we had common friends. I went to Richwoods and was involved in youth for Christ. I remember you on WPEO and I think we used to all go out to a place called “The Barn” good memories! Anyway, I just love love love watching you guys! Keep up the good work!

[@preparingformountainlife]

We are currently working full time jobs with 65+ overtime. We have 3 years before we can retire. We are currently remodeling our home so that we dont have to do it after retirement (pay for it now). We did borrow some money ($70,000) but will be paying it back in under a year. We do most work ourselves but the hardie board siding, windows and gutters...cant buy it if we dont work, cant buy it if we don't work. This money spent will make our home ready for the next 100 years of its life (home was built in 1925). We are keeping this home in our family and it is the most important goal right now. I appreciate all the advice you give..

[@cindypatrick785]

I’ve just recently begun watching your videos and have found them so informative. I was raised in a family of 7 so my daddy worked 2-3 jobs so my momma could be home with us 5 children. We always had a huge garden and mom canned lots of food and made homemade pickles etc. We mostly shopped second hand stores but mom was careful to pick lightly used, clean items. She also did the bookkeeping for daddy when he started his own business. I have tried to follow their example and I’m gradually introducing your suggestions to my husband. We agree on our first goal, that of paying off a credit card debt. I have started drawing my social security check now , and since it is not an amount we were used to having in our “ budget “ we’re going to put most of my check towards the debt. Our long term goal is to save up to replace my 2008 Kia. 11:36

[@monicaluketich6913]

I'm trying to decide which goal to do first: finishing my goat barn (which I'm doing by myself - crazy 67 yr old woman - $$ on supplies I never knew I would need) or spent $$ on some solar panels and the stuff needed to use the sun instead of paying electric for using some appliances. Considering that I live in Texas, it shouldn't be a hard choice, but the barn would be cheaper but a WHOLE lot hotter work during the summer. If I get the solar panels (not the whole roof just some that can be used on sunny days to use fans instead of air conditioning), I may not feel like I should spend more money at that time. Any thoughts on this situation? I just finished living without hot water for 6 months because of the possible cost - I did finally call a pumber for another job. I mentioned the water heater not working. All it took was finding the hidden reset button! No cost.

[@di4085]

You made me laugh when going without hot water for 6 months only to find out it was the reset button on the water heater. One weekend I was without gas to heat my place (long story) in January. I needed to wash my hair and ended up getting in the shower completely. It was the coldest shower I ever took in my life.

[@lindadenneypu6315]

We just had to get anew dryer after 12 years I told my husband I'm gonna do a Larry so i whent down the rabbit hole and did heaps of research on best brand model size and warranty repair costs ect thanku Larry and hope for makeing me a smarter shopper

[@KarenReusch-j1u]

You have both grown so much financially and personally. So happy for you.. Good things come to good people. ❤️❤️

[@kellygray8595]

Going along with the friends can be a huge issue no matter our age.

[@duanemcguffey9483]

Any advice for those in their 70's and 80's? I wish I'd known about your tips decades ago.

[@ubwaterman]

Fantastic video Hope and Larry!!! thank you for the encouragement. Sher.

[@kellyduke575]

Thank you for sharing this! I appreciate your honesty.

[@BCGirl822]

As soon as I got done watching this, I turned the radio on and Eye of the Tiger came on. 😂❤💪

[@UndertheMedian]

Lisa, that is SO funny!

[@rg-mi5hh]

We aim to pay tithe for the year first, property taxes for the year, car and house insurance for the year, then upcoming dental for the whole year, some put back for health, phones for a few months ahead, than Christmas. Doing this in advance keeps us from using the money other places. It has helped us. It has never worked perfectly, but it helps.

[@allardvanderstarre5238]

good info; thumbs up....more videos like this

[@chrisl418]

You guys really inspire me! I appreciate your 'setting big goals' Hope. I'm going for it!

[@CentsibleLivingWithMoneyMom]

Hi. I am creating more challenges for myself. It makes it more fun.

[@Viriatha]

One habit of mine is to wishlist anything I want on Amazon. 50$ designer mug? WISHLIST! But I'm not allowed to actually buy anything until it's been on the list for at least a month, often more. Most of the time, I just end up deleting the thing from the wishlist instead of getting it.

[@watchmethriving]

My big goal is to pay off my car by the end of this year. Then I'm working on saving $10,000 buy the time Summer starts next year.

[@robinborucki4736]

I always look forward to watching your videos. I really liked this one! 👍

[@traceydufault297]

Great advice guys thank you❤

[@mayyang8350]

I am so inspired by your story.

[@lynjaggi7204]

Another great one guys! Always inspirational 😘

[@defendressofsan8948]

Thank you!

[@KS-jf2jf]

You are so inspiring. I love your positivity ❤🙏

[@kerryjames6312]

I love giving them receiving

[@alanc49]

I have an old iPad that I use a lot and it has an awful cover. My spouse generously gave me a reconditioned one and a cover from Amazon for Christmas. It was beautiful but I returned it and covered my old iPad cover with Christmas cards and wide, clear tape. It looks great. When talking to others I found out lots of my friends had much older iPads and tablets than mine. I assumed mine was an embarrassment and no one else had one as old etc.

[@MarcyMason-k6v]

This is not related to this particular video, but have you done a video concerning retirees. Thank you

[@UndertheMedian]

We did a 2-part video with our financial planner a couple of years ago. He answered retirement questions. But, no, we haven't done one about Larry's retirement. His retirement is so unusual since we still have a teenager at home. Our retirement budget just isn't "normal" since we're not quite done raising kids.

[@malissachavira1412]

Sorry I missed the live. Well go back to watch. 🎉

[@UndertheMedian]

No worries. We did the premiere early since we'll be spending the next couple of days with our kids celebrating the Independence Day holiday.

[@Smooshes786]

I missed as well! Got a call, Mum needed me. So glad these are accessible afterwards. (She’s fine)

[@UndertheMedian]

@@Smooshes786 , so glad your mom is okay!

[@barbaracampbell7747]

How does having two checking accounts plus a hidden savings account? I'm afraid of having it,but it might help.

[@candaceott8949]

Hope your hair looks pretty. Good show thank you

[@elizaC3024]

We regularly use the do we need this? We try to use, reuse ,or repurpose what we have. A budget is a must, or plan to be broke forever!

[@mariasinclair9718]

Thank you dearly for your thoughts

[@candaceott8949]

The blooper was funny. Good one.

[@kerryjames6312]

In my early years I spent spent spent lots money mistakes now age 55 I have no mortgage have emergencey fund sinking fund

[@audreybennethum3617]

Can you do a school supplies shopping video?

[@ThePantherproof]

6:23 If you aim at nothing, you will hit it with amazing accuracy.

[@rochellethundercloud346]

My grandpa has a hard rule. How long am I willing to work to buy this item. And,buy cheap,buy often. Uncle Cletus says we're too poor to be this cheap

[@joycef8443]

Smart relatives!

[@kerryjames6312]

I challenge myself most of all I trust God

[@fourdayhomestead2839]

Looking at what I have/what I need & hours I'd need to work did it for me. No spend pantry shopped a few months back & saved those $$ for long term supplies.

[@GEAUXFRUGAL]

I'm not aiming right now in specific terms. I'm saving hard for the next great Bear market.

[@GEAUXFRUGAL]

I learned financial advice from the bible. The Proverbs are law that you can't deny. It's solid firm in an anything goes society worthy of removal.

[@rg-mi5hh]

Big goal for us now is saving up to pay insurance.

[@olimpiasilva9268]

Our big goal is to retire and travel between US and Portugal! Find a tiny home there.

[@lindadenneypu6315]

Another smart buy i was doing food shop and saw some meat going alittle grey so i asked for aprice reduction as it had to b used asap i got 20 percent of i was wrapt i called my husband and braged

[@DUARDOV]

I love you both❤️

[@jat6547]

From one of your previous videos,, bout unplugging appliances, my neighbor laughed when I said unplug my microwave. Lol. However, sometimes I 4 get, takes some effort cause mine is above stove means get out step ladder..... Sometimes I put something in there and realize it's unplugged.... Hope ( Hope ) LOL I'm not Was ting my time.

[@chaoticallysay2625]

It was easier for me to save as a kid now its like an arm and leg my apt plus rental fee. Im trying you 2 i am trying to much to not be considered too low income but its hard.

[@chaoticallysay2625]

My goals is court fee paid and probably a reasonable car. After those 2... travel a bit more even on the train or cheap flights.

[@RN-mn3jn]

A big money mistake I saw today is going to really trap people. I received typical junk mail today for a new credit card offer for a nationwide store. I openned it bc I was curious as to what the interest rate is on credit cards nowadays. 😮 30.99 % interest😮 that is what this card offered. People are going to drown in debt if they accept these and don't pay them off every single month!! I'm still in shock at that rate!! Read the fine print ....always!

[@shehumuhammed1589]

I want to have a garden centre

[@kerryjames6312]

My goal is to pay cash for a descent couch as our couch has died not fixable rip

[@allardvanderstarre5238]

what happens to me is that real life interferes; i always spend to much on vinyl(records) i collect them foremore than 50 years

[@GEAUXFRUGAL]

You want to see financial illiterate ? Go look at the payday loan locations. Filled with old people. 200-400% interest . Never ending payment. Taking advantage of the weakest of the community.

[@jonnaborosky8836]

I reached a lot of money moles, too. 😁

[@peggybelcher4679]

Amen

[@leticiaurbach1720]

Most people donot plan on lifei surance or final expenses.

[@v113d94]

The “Eye of the Tiger” is the theme song from the movie “Rocky” 1982

[@UndertheMedian]

Yep. I remember it because it was the number one song in 1982 when I graduated from high school.

[@WiseWomanLola]

What was your thought process to give away your money? I can't understand why!

[@denisestathatos4147]

Gifting time is nice, but if you can sell the skill, it is better.

[@paulhaggard8746]

How did you plan for the birth expenses of your children?

[@allardvanderstarre5238]

minor goal: 12X100 euro=1200 per year;feasible

[@casandras14]

Dreaming so not sure a goal: I would love a patio room & swimming pool. Dreaming as a single income makes this unrealistic

[@nelliedean7088]

Everything you have someone had to think up first. Don’t give up on your dreams.

[@sylviajones4907]

I hope every young person listens to y'all.

[@kerryjames6312]

Save left over money

[@emelialackner9688]

aka.MIDGE. Have a HAPPY 4th with your boys.🇺🇸

[@kerryjames6312]

I have vision quiet healthy God family granddaughter healthy happy

[@kerryjames6312]

And Godvwilling down size buy new bed frame my bed frame is very miserable ufuxablesame with our dinning chairs

[@boydsummerhays322]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.

[@heatherwhittaker6169]

Ignorance? My oh my😅

[@ricksherman34]

If you are still giving money away, please let me know. Haha.... : )

[@Susq15]

Right now my goal is the fully funded emergency fund. (Ramsey BS3)

[@whatwouldpicarddomakeitso9607]

Thank you for sharing . I appreciate the time you take to help us with really useful information.thank you. Tracey 🇬🇧👍🏻💛🤍