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there is nothing to be shy about here like take that disc out guys like look away if you have to look away to take that this girl look away and take that discount it is not a fight we are not at war here so take advantage of every or any way to save money we're trying to build that well we ain't got time to [Music] play [Music] today's video will focus on how or ways to save this is a two-part video so let's get into the first part guys saving guys it's very very important it is important you can't imagine um how many times funds i have put aside in the spirit of saving came through for me it is no joke it is essential and we live in a life or in a world where a lot of things happen that are beyond our control or not planned for and that's what savings allows you to prepare for putting money aside for future use find your foregoing certain pleasures in order to put that money aside however imagine that feeling you get when something unforeseen happens and then voila you already have money put aside for it or somehow you're prepared for it because you actually saved money further you have to be intentional about it um just like budgeting guys you have to be intentional about savings you have to put your mind to it you have to have a plan there should be direction whether it's a setting goals for what you're going to use the funds for whether it's for just building your personal savings or creating an emergency fund there has to be a plan there has to be direction or you would lose focus i would have to add that i am referencing dave ramsey's website on the 20 practical ways to save money i believe that the article that is written on the ways to save money it's insightful it is real and it is as practical as it can be and honestly it makes sense and i just wanted to discuss it with you guys so the first way to save money guys is to do away with debt yes it's to do away with that you can't expect to save money when you owe i mean putting your home aside any other debt that you have it's not good debt you can't afford to build wealth when you owe someone or when you owe or when you're continuously adding debt up on that up on that it's like having twenty thousand dollars saved in your personal savings account at the bank and yet you have like thirty thousand dollars in credit card debt that leaves you with a negative ten thousand so at the end of the day you feel that you have twenty thousand dollars saved however you owe thirty thousand dollars which mind you is accrued in interest and fees so then thirty minus um twenty thousand in savings which is the positive minus the thirty thousand that you owe leaves you with a negative ten thousand dollars so in actual fat your net value or your net worth is negative ten thousand dollars so you don't have anything in savings you're at a zero negative actually zero would have been better zero means you're starting off fresh with a clean slate however negative ten thousand guys is not good and there are ways by which you can do away with that however you have to do away with it before you can be free lightweighted to be able to save so two is to get rid of any automatics of subscriptions or memberships that you have signed up trust me the only automatic subscription that i have is for apple music that's because i love music some of the things that you can get rid of or cut down in order to just be able to have enough money or funds to save and the number one thing honestly that came up were automatic memberships or subscriptions you would be surprised how many times or how much has been deducted from people's account every month due to automatic subscriptions that they signed up for that on one side they've either forgotten about it or on the other um they're not even aware that it's been taken out or they thought they cancelled it but then it's still being taken out see listen if you're trying to save or build wealth for yourself every little penny counts every cent counts so don't overlook or underestimate the power of that penny that's all i'm gonna say don't underestimate the power of that penny or that sin it's like people come in to do transactions and then they get their cash back and they're like keep the change or throw the coin away no worst thing you can do is to give it out if you don't want it donate it but don't throw your change away it adds up point three for me this is something that i am planning on doing myself um because honestly i have reviewed my bills for the month and i've come to realize that i don't even use it um the only thing i actually use is the internet and i spent more time on youtube or on netflix so then what's the point of having cable that brings me to my third point cut ties with cable cable is very expensive guys it's very expensive if you're trying to save regardless of how much you're earning if you don't need something you shouldn't have it or if it's not a necessity you can have it there's so many ways now that you can get access to television or certain channels that you don't have to pay that much for you know autosave consider auto saving um that's point four it's very important um like i started off with this discussion you have to be intentional when it comes to managing your finances and setting autosave is one way to remain accountable and you can save and not even think about it just automatically put money aside not think about it and honestly it makes it easier because you feel less pain the fit point is essentially um use any extra cash wisely just because you're getting extra money doesn't mean that it's time to go on a shopping spree why should there be another expense simply because she got extra cash yeah that's the question just because you get it extra cash doesn't imply that you should get extra expenses no it doesn't work that way extra cash means extra money to save so use your extra cash wisely getting extra cash does not imply that you have to increase your expenses or you have to get extra expenses no use it wisely off to the sixth point um unsubscribe from emails that are marketing things to you or selling things to you um i am a marketing so i understand the whole purpose of the email funnel is to eventually get you to take an action as a consumer so at the end of the day we have to market we have products needs to be put out there we need to let people know that we have these services or these specials blah blah blah however um as an individual you are responsible for the things you buy you can't put that blame on anyone else just because bounty is advertising paper towels or coaches advertising the sale or 50 50 discount or 70 discount means that you need to go buy that item at that 75 discount no they're advertising so whoever feels the need to purchase it or whoever can afford can go buy it just because you want to save or not buy things you can afford doesn't mean that the company is selling those things will not advertise your market so that brings me back to my point unsubscribe from emails that are selling you things seven seven points yes insurance rate you have to review your insurance rate this was like a goal for me since 2020 or no since 2019 actually to find a way to save on my insurance take a good look at your what you're paying for you know because for me i took a look at the value of my car then i looked at the total amount i was paying in premium for my insurance and i noticed that i was literally paying more in insurance than the current value of my car that didn't make any sense to me it doesn't make any sense to me so my goal was essentially to cut that down whatever i needed to do like i said i am not shy about any discount i am getting that discount no matter what so i had to cut down on how much i was spending an insurance rate for my car imagine paying over a thousand dollars premium for six months now i'm paying like almost two hundred dollars if not less in premium so trust me wherever the discount is find it and take advantage of it talking about discount but my eighth point is to look out for discounts and pay in cash ask the round see what discounts they offer if paying cash gets your discount then pay cash for it just because you have a debit card or a checkbook doesn't mean that that's the only form of payment you have to use cash is key and it's always going to remain no matter what form in which it comes in but at the end of the day because credit if you pay with a credit card for example there's a processing fee it's like when i bought my furniture for my apartment um the credit card companies i believe charged like three percent to process the credit card payments that the business received so they in turn charge you that three percent when you're making the purchase or making the payment for that purchase using a credit card look at that so if i had paid with my credit card i would have paid three percent extra whereas if i pay with my debit card i would have saved that three percent point nine um take advantage of retirement savings plan honestly um like 401k if your company offers it and there's a matching program for example so you can take advantage of it i am not here as a financial advisor i'm just telling you if if i work with a company and the company for example is paying me it's matching every contribution i make up to five percent or three percent of my income annual income why wouldn't i take advantage of it that's like money on the table that you're refusing to take advantage of if my employer if your employer has a 401k matching program at the end of the day you want to put money aside for retirement that's just to start off with um because you're you're in your prime now and the older you get the less energetic you would have you would be to be able to do the same work that you do now the whole point of retirement is to put money aside for your future so that you're once you get to the point where you can work as much as you are right now you have money to live off of or you don't end up becoming a burden on your kids your kids or it shouldn't be your retirement package so if your company offers a 401k or a matching program take advantage of it whether it's dollar for dollar or dollar to 50 cents whatever it is that's free money on the table take it take it like who says no to money i don't know not me so take it number 10 is try a spending freeze the whole point of a spending freeze is to compare your needs to your wants and forego your wants and focus on your needs for that month or like just because you want to say it doesn't mean you can't treat yourself you know you just have to be smart about it so for me i put aside money that i can spend on things that i want you know i already have things that i need covered but then i just put a little bit aside to buy things that i want so then um a spending freeze essentially puts that on hope try it for a month where you focus specifically on the things you need like your mortgage or your rent your electricity bill your water bill if that's separate from your rent or your mortgage and all that good stuff um just freeze don't spend try not to spend or buy anything that you want for the month just focus on what you need the points that i'm discussing in these videos are in reference to an article that i read from the dave ramsey's website and i think that's a really good point you know it's like detoxing for example you know so try not to spend for a month try see start little by little try it for a day wear that favorite starbucks coffee that you always want or you try to get every single day when you go to work try not to buy it for a day then try it for two days then three days and four days and five days and the next thing you know you're doing it for a week at the end of the day small wins help small wings little wins um boosts your confidence and encourages you to encourages you to press on so yes try that and see all right guys so that brings us to the end of this video 10 ways to say this so much for joining me today i appreciate your presence here um if you like this video go ahead and thumbs up leave a comment in the section if you have any contribution or thoughts to share and also if you haven't subscribed go ahead and subscribe so you can catch my next one have a good day guys [Applause] [Music]