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Financial independence and security are vital for our freedom and wellbeing. With inflation only going to get worse before it gets better, it‘s best to take action now if you haven’t already. Finance experts are concerned it could be worse than the Great Depression.
I’d like to share this video with advice from Karine Mental Gems(who has great level up vids in general) and other financial tips that have worked well for me.
the book the Financial Feminist by Tori Dunlap who runs Her First 100k has great resources as well!
What has saved or made me $$$ besides the usual don’t eat out often, don’t impulse buy, side hustle, 3 months of living expenses saved etc:
- Public transit. If your city has reliable public transit, it really does make a difference esp if you get a commuters compensation from work or a bus pass from them. If you are low income, you can check if they offer subsidized bus passes. Mine in Seattle was half off for all fares!
- Cashback credit cards. Pretend credit is your actual money if you’re scared of overspending but you need to be building up a good credit score anyway.
I found that using a 5% or 2% cashback credit card on almost all of my expenses has given me $30-50 back monthly! I personally like Discover the best.
- Have a high yield savings account and deposit a third of your paycheck into it. it’s better to gain a few bucks a month then to let your money sit stagnant in a checking account.
- ALWAYS negotiate your pay. You don’t want to lose thousands of dollars each working year bc you couldn’t advocate for yourself. Always give a range with your expected salary being the minimum bc companies will try to lowball you.
- Sell off old, unwanted belongings. Decluttering will clear up your mind as well so make some $$ off your clothes, jewelry etc. while you’re at it. See if a thrift store will buy them or sell online on Poshmark or Depop. On the other hand, thrifting for clothes has saved me so much. There are quality, designer items I’ve found for a bargain!
- Downsize your house and get a smaller place if minimalism is your thing!
- Job hop. Jumping to a new company every year or 2 will boost your income unlike a small percentage raise for staying with a company long term.
edit: another one I forgot to add is learn to do your own makeup(if you wear it), hair and nails! I’m saving myself over $1k a year by learning to do my own gel nails, cutting my own hair and wearing makeup minimally.
Lastly, ONLY date provider, ambitious high value men. He should want to spoil you anyway and take pride in it and his masculinity boost. Let him pay without guilt for your groceries, fine dining, nails, makeup, vacations and bills!!
I’m not trying to fear monger but it’s best to be prepared and always have savings anyway. Maintaining a balance between being frugal and treating yourself is key! If anyone has other tips, please do comment below!
Scrotes believe that a husband is a woman's retirement plan because a woman will never earn enough but men are the reason that women retire early when he ruins her career by guilty tripping her. Men don't financially support women, they financially support the gold digger they want to replace you with. Most men are even stingy with their own children but use their hard earned money for some chick who doesn't love them. I saw on the Dr phil show that a man was swearing his head off because his wife spend more than 50$ on her accessories while he bought a yacht for himself. He doesn't let her divorce him because divorce is expensive.
Men are not there to help you, just themselves. So what If you'll be alone for a long time? It's better to be alone and meet a man later than meet a man early and be on the streets empty handed because he "outgrown" you.
So many men walk away after getting support form their partners to finish their degree or have their own business.
Yet losers like the Philip Scott show want to make you feel guilty for not settling with scrotes who are "nice guys"
Yas we love a financially literate queen! 👑
The only thing I would add would be in terms of investing - I recommend a Roth IRA, as well as a health savings account (HSA) if you’re on a high deductible insurance plan. The tax benefits are insane!
job hopping is something no one talks about, it's always seen as a bad thing but imo if you balance it out it can work wonders for those without college degrees. spend a year or two at each company to the point where you can present actual contributions you made there on your resume. once you've got that covered, shop for positions in your freetime that pay more than your current job, will give you skills you can showcase (this is important, going from taco bell to amazon does nothing), and do the interviewing either on your days off or after work. i've worked my way up from 7.25 an hour to 50k a year with an associates degree simply because i knew that waiting/asking for a raise is a lot more difficult than getting hired at a company where the starting salary is simply higher.
Job-hopping is the biggest one for me. Short of living in a van down by the river, there's probably little I could actually cut to save more. I just need to MAKE more. I have only ever made more money by job-hopping, on average. Thinking of doing it soon again but the recession has given me pause.
Have a "bare bones" budget for emergencies and then actually do the math.
By "bare bones" budget I mean finding out which expenses are absolutey necessary for your survival (like rent, basic food to survive etc.) and which ones can be cut in an emergency. After you have the "bare bones" amount of money you need to survive in a month without any extras you don't absolutely need to survive, do the math:
- find out if the social benefits in your country would cover that if you suddenly lose your job and income, if you are eligible (and for how long) and how to get them
- find out how long your current savings would cover those expenses if your income drops to zero and you don't receive any help or social benefits. One month? Six months? Two years?
This will either let you know that you need to stock up your savings and find out which benefits you are eligible for and that you may need a backup plan to cut down expenses even more if you absolutely can't cover them (e.g. give up your apartment and move back in with your parents) OR it will give you some peace of mind because you did the math and can confidently say that even if shit hits the fan you will be able to survive for two years with your savings alone.