Can you save money and enjoy your life at the same time ? For many, one excludes the
other, but to be honest with you, sure you can ! With a few adjustments you will be able
to save money, enjoy your life and say goodbye to financial stress. In this video you will
see our 3 step process to make exactly these adjustments and live your life!
And before we dive into the topic : Hello and welcome back to our channel ! And if you
are new here : We are the finance nerds and on this channel we are helping hardworking
people like you to get more out of your hard earned money by showing you how to use your
money in the most effective way. Remember to give this video a thumbs up at the end,
if you got value out of it and now let’s start !
Most people think that saving money and enjoying life are mutually exclusive, which is why
they usually don't bother with their finances at all. They are afraid of missing out on
things in life if they make changes in their finances. But you don't have to go to extremes
at all and cut all the fun out of life from your budget. You can create a middle ground
and you should ! Because what's the point of spending all those years working towards
your financial goals if you can't even enjoy the journey to get there ? In addition, you
are always able to make changes over time, nothing has to happen overnight! You don't
have to suffer for these changes, you just have to be creative and deal with your finances.
And now let's look into the 3 step process
Revise your expenses This is about tackling the expenses that are
not of high importance to you. For example, expenses for your insurance, subscriptions,
telephone, Internet or other memberships that you do not use. Check if you really use them
or if you simply pay too much. Use comparison sites and try to get better offers than you
have now or if you don't use it, cancel it completely. You'll have to invest a little
time for this, but it's definitely worth it and may allow you to save several $100 a year
without cutting anything in your budget. Go deeper
Now look at the things you really like to do and spend a lot of money on. To do this,
look at your monthly expenses and you will quickly see where and on what you spend a
lot of money on. Once you have found these things, the next step is to find possible
alternatives for them. For example, you notice that you order pizza
every Friday. Instead of continuing with that, you can make your own pizza on Friday.
Or instead of buying a coffee every morning on the way to work, you can prepare it at
home for the journey. There is an alternative for everything, your
creativity is needed, as I mentioned at the beginning. You don't have to suffer to save
money, you have to be creative.
Fun money This one is for all the things you don't want
to find an alternative for because they just make you feel too good. That's okay and that's
what this video is all about, how to save money and still enjoy your life.
The fun money is an area of your budget that is only there to be spent on the things you
want. Be it going out to eat, going to the movies or going out with friends.
How do you make a new budget to enjoy your life ?
1. count all your expenses 2. list where and how much money you can save
with your adjustments 3. create your new budget that allows you
to have everything you need, budget money to save and then budget money to have fun.
Now that you know our 3 step process and have gotten ideas on where and how you can make
small adjustments to your finances without sacrificing your life I want to tell you one
more important thing to keep in mind. One of the biggest mistakes that leads to
people not being able to both save money and enjoy life is not taking care of their debt,
or if they do, not taking care of it enough. You need to make it a priority to pay off
your debt and get out of it. Because before you can save any money at all, your debts
have to be paid off, otherwise the debts will keep eating up your savings. In addition,
you always have financial stress, which means that you can't enjoy your life carefree. For
this, it is best to start with the Highest interest debts first. We have made a special
video where we show you how you should budget your money when you have debts, we have linked
it to you in the top right corner. To sum it up again, first look at the areas
that are not of great importance to you and see if you can eliminate them completely or
find inexpensive alternatives. Then you go to the areas to which you have an emotional
attachment, such as weekend rituals like ordering pizza, and then look for suitable alternatives.
And for the things you don't want to find alternatives for, there's the fun money in
your budget that you can use for that. So you are able to save money with small changes
and still enjoy your life. If you enjoyed the video and now want to know
more about how to take control of your finances, click on the video to the right or check out
the video description. There you will find more videos and resources to help you have
more money at the end of the month.
And remember to hit the like button if you are willing to take control of your finances.
see you in the next video.