Besties!!! This video is long...I am so sorry..There is just soooo much that is happening in this budget... I even trimmed it down lol😩 But I hope that you enjoy...and chileeee....This $7,000 Supplemental Tax bill 😩Help me Lord 🙌🏾
It's ok....long as at the end of the day you are covered and everything is in your contoll.....just blessed that you open up and show the real parts of your journey...thank u....
@@BOUJEE_ONABUDGET you aren’t alone. I have a credit card bill that’s due next week and if it’s not paid off in full, I’m going to be hit with interest fee. Only God knows but I can only do what I can do.
I was a foreclosure paralegal with a major bank for many years. They won’t put a lien on your house they will foreclose so will the HOA. You need to get a part time job cancel all subscription, the ADT, do your own hair and nails. Pack lunches, use the food pantry to stretch your food budget. Stay home so your not wasting gas. If you work from home the gas bill is too high. Solar should be free in CA call and find out. This is not a time to sit and watch tv. It’s crunch time. Only items you should be paying our your for walls, pay minimum on credit cards. Stop putting in your 401k your checks are going to be smaller now that your paying back loan. First thing you need to do is get a $1k ER fund if something goers wrong you have no back up.
We became homeowners almost two years ago and I had a very similar experience not knowing and understanding how property taxes work. God will get you through this. He always has a plan for us ❤
Stay in faith! I can testify that God comes through! I had two separate occasions that we had unexpected medical bills that would have wiped out our savings and they were both paid supernaturally. The first one I had called to make a payment to the hospital for two separate bills , the First bill was “accidentally” discounted 90 percent … and the second bill was paid for by an insurance I no longer even carried! The second occasion I had a large medical bill pop up and my husband ended up getting a side job opportunity show up to our house that covered the amount that we were short . Hundreds of dollars ! And… my husband isn’t a believer so … there’s that too. God is goooood! Start celebrating now ! I can’t wait to see what He does for you !
Yes look at God! My grandmother said when she gets an unexpected bill she places on her mantel and tells God " you know what my finances look like and what I need. I'm leaving this here for you to handle" sounds silly but it's been paid everytime whether it's unexpected refunds, incorrect billing, random money from people etc.
I absolutely LOVED reading this!!! God is sooooo good. I just love how HE shows up! Not by happenstance (i hope that is how you spell it..LOL) by His Grace and mercy and His Promise that He will always provide for us!! Love it!!! Thank you for sharing!!
I’m glad you explained all that house stuff. I think I’m just going to continue my apartment living until I know I am ready and not people telling me I should buy and stop renting. 💜💜💜
Absolutely! Only when you’re ready and also to note once we become homeowners it’s all up to us, maintenance, repairs, etc. my parents had to replace the HVAC system and that alone was $10,000 and that was in 2021 so I imagine it would be a little more now, all that to say😅do it when you’re ready lol
Yessss! Please please please do not listen to the people who will not be helping you. pay the mortgage or anything. I remember i used to care about what people say until I thought one day....Well, if I went to these people for help, I wonder what their answer would be....😩
Renting, if you are like me old and live on SS is a life saver. When things break, I call the landlord. I don't spend on remodeling, redecorating or on yard maintenance. I sold my car. An uber is cheaper than insurance , gas and repairs. I can save to my emergency fund. I can still spend on an occasional night out to eat or visiting interesting places. If rent goes up, I will just have to rebudget.
I’m so sorry about your getting caught with the supplementary tax bill. I also bought a new home which meant I also got a supplemental tax bill. It is definitely something more new home owners need to hear about. Thanks for being the educator for others. I am so proud of how you are tackling your challenging budget. The budget struggles will get easier. As your bills that are behind get caught up one by one your budget will get easier.
Pleeease do NOT borrow from your 401k! The taxes you’ll have to pay will be ridiculous! You’re gonna dig yourself an even bigger hole because then you’re borrowing form yourself + paying back interest! If you lose that job (God forbid) you’ll owe all that plus some!
Tmobil was offering home internet for 30.00 a month if you have their cell phone service. They include the box with that price! They said the price will never go up. Netflix is free with your tmobil phone account as well! Why do I sound like a tmobil sales person? Lol. I'm not! Just on a saving money where I can journey too 😊
I just recently found you, and I love your channel so much!! So much great content, so soothing, love your personality, and great laughs! I truly believe at age 45, I can seriously turn around my financial situation. I have been struggling my whole life and I'M TIRED! I love your transparency. You give me hope!!🙏🏽❤️
Sister listen to me. Thank God for the 401k because I can say it has bailed me out “Many” times. Better to pay yourself back and make a little interest than paying back a bank.
Ok, so the supplemental tax bill money was in your initial mortgage escrow when you took out the loan. The bank settles up your escrow annually and sent the money to you because they only manage 12 months and can’t hold it in your escrow. I didn’t have that issue when I bought my new home in AZ. Last year I learned to manage my escrow account even though the bank has it. I make sure I know what my new year taxes/insurance are within the escrow annual settlement doc. If not, I start sending additional money to my escrow. 🤗
🙌🏾🙌🏾 Girl! You have enlightened me on new property taxes!!!!! I literally just closed on my new home this past Thursday and my home is considered new build even at 3.5 years built. I did not anticipate any unexpected tax bills from a new build but because of you sharing your story…I will 💜 be vigilant
New viewer and can I just say wow girl! Thank you for your transparency. You did not have to do that and it was so humbling to hear your story. We all make mistakes and the Lord is there to guid us through. Thank you again for sharing. I’ll be praying for you and I pray that everyone else has a beautiful day. 🙏🏻💕
Things they don't tell you! I had a realtor when I purchased my new construction home, and I still didn't know smh... I got my escrow refund check and put it in a high yield savings account to bump up my emergency fund, then the very next month, I got the notice of escrow shortage. The refund check was about 2500 and the shortage was about 4k, so I paid 3k and that brought my payment back down to a comfortable range. I felt a little guilty, like I was borrowing/stealing from myself, but I think that qualifies as an emergency/unexpected major expense. Do what you gotta do!!🙌🏾👐🏾
Grest video. Its a blessing to be able to use your 401k to chunk down your tax bill. Paying yourself back is much better than paying someone else’s interest. You are doing to work…excited for your progress! 👐🏾🙌🏽👏🏽🙏🏾
So it makes more sense to take from yourself on top of paying interest?🤨🤨you’re robbing from your future . If she loses that job she’ll have to pay it back 10x . This is NOT smart. It’s a savings account!
@@pretty_brownnn5855 Prayerfully I will not lose my job...But until then, I'd rather risk that, then risk a lean being put on my house and now in a much worse off position with extra fees and the stress of delinquent notices etc.... I took the best option in a bad situation. My plan however is to hustle as much as I can and pay this all back this year 🤗
@@pretty_brownnn5855401k already takes your money every month 2%or more depending who you pay to manage your 401k - pretty much a scam to invest in big corps with all the risk and they risk nothing with your money
Thank you for sharing your testimony about tithes. Right now I’m so financially challenged that I was considering not tithing while I get back on track but changed my mind. Tithing is a must. Just wanted to say thank you cause I needed to hear it and I love watching your channel.
Thank you so much! God wants to see how much we really trust Him....I really do not want to fail this test...And let me tell you...being obedient is always better than sacrifice....I cannot wait to share my testimony.👐🏾👐🏾👐🏾👐🏾
Love the video! Yes, there was a time that I did not pay tithe once or twice and I must say I ended up with less money than when I do tithe. God does make away when we are obedient. Amazing job being a good steward of what he has given you. 👐
Pro tip whenever the county/city sends out ppl to reevaluate the inside of your house and you’re not planning to sell but have done improvements don’t let them in. That will raise your taxes but they can’t force themselves in they’ll just have to use your past evaluations.
You keep going! Every paycheck you have wins and that’s amazing! We have all been there when we have to make it work at whatever means. 🙏🏻 Keep your faith. 👐🏻
I just borrowed from my 401k to pay off a bill in connection to my home. I am watching this today and relate completely. The upside is I can see light at the end of the tunnel and better positioned to payoff all with the next 6 to 8 months. Stay focused.
I would personally recommend starting to save for increased mortgage bills every year. We have owned a home for almost ten years and every year the amount goes up. Sometimes it's really small but other times it's a lot and that all depended on the tax assessment/insurance.
Hello. I became a subscriber just tonight and I can appreciate you for wanting to give back to God. I’m just in the stage of getting ideas to make my own budget something I can truly adhere to this time around. But the one thing I do know is that I will be giving back to God faithfully because He has truly brought me through some “thangz”. Thanks for your videos and the fact that you do take your time to explain things. I guess I’ll binge watch on your videos as well as some of others I enjoy.
I am so glad you ended this video on a positive note, with all of the things that you have accomplished. It is very disappointing when you see the big hurdles in front of you, but then you look back and see how many hurdles you have jumped it motivates you to keep moving forward. I understand about buying a new home, I was there and although my situation was a little different I experienced something similar. In a short time you will be able to breathe and move forward, trust the process and trust God.🙌
We were hit with that supplemental tax bill too and it was a total shock! They gave us 30 days to pay it and it was right before Christmas too. We got through it though. God is good!
We had something similar happen. We are the second owners of this 20 year old house, and I guess it got appraised and at the same time, our home insurance increased our rates because our house turned 20 this year. We pay home insurance with our mortgage as well, so BAM, we went into escrow shortage and our mortgage payment went way up. All the extra money I was going to use to pay off our debt is now tied up, and we are house poor. And debt poor. It’s not fun. Our parents helped us get a new roof, and it took six months arguing with our insurance people about it, so we dropped them and got new insurance people, and we’re waiting for our mortgage payment to decrease a bit from that, BUT we’re still paying off the taxes side of it.
When I had my Mortgage, I would pay extra towards the escrow every Month. The Mortgage Company would refund me and then I would take that money and put it towards my principal payment. At that time I was already paying extra towards my principal. This helped me pay my home off faster.
If you’ve had ADT for 6-12 months. Call them and let them know you can’t pay or having a hard time paying. They will try to get you into a promotion. Also, I know you are deep into the game now but you can get an alarm system and pay $10 a month but you would have to by the equipment. Try ring security or simplisafe
Girl…don’t feel ashamed of “robbing Peter to pay Paul” because trust and believe most of your subscribers had to do the same thing (including myself). At least you’re able to take out the 401k loan and pay it back on your time. And after it, that $7000 will be $2100 left to pay and that’s more manageable. We got this girl!!
Sorry this happened. What a polava! It's a tough lesson but if we get bonus money from taxes etc it's best to save it in a high interest account just in case. Even in the UK they say if they over pay you and want it back they will take it back 😢 here taxes are by law the first in line to take. You have done well to adapt to the situation. Keep on saving and you will be financially stable and reduce money anxieties ❤😊❤
👐🏾👐🏾👐🏾 Bestie all the jazz hands to you!! It’s rough out here in these adulthood streets! I’m behind on a few things myself so you are definitely not alone. I cry sometimes too. Then we get up and keep trying. We’re doing the best we can.
Hello, I am new to you channel and I love it. It is differently giving me hope on how to budget. I am somewhat doing some things like you, but for like the hair, personal property taxes/tags, spending, etc you have taught me something for sure. I also pay my tithes based on gross and it comes out before everything else and yes I am blessed 🙌 I am encouraged to start budgeting because I am so tired of being in debt because I am using my credit cards for food, car, household, toiletries x etc.
New subscriber my husband bought us a converter box which cost $250 for the box after 2 years of having the box for free now we pay $150 for 2 years of service we get every channel cable has we haven’t had cable for 4 years now saves us a lot of money we pay only for Wi-Fi
Hey Jazmine! Giving you the jazz hands!!!! I love your videos. Keep sharing and stay real. I’m playing catch up on a few bills. I’m def getting back into paying my tithes and offering. It def makes a difference! No doubt. Catch ya later. Peace
Thank you so much for leaving a comment and giving the jazz hands!! 👐 👐 👐 It makes the world of a difference! No one can tell me that it cannot...They try to but...😂 Good Luck on staying the course and getting caught up! We are in this togetha!!!
I don’t own my home I rent it however I know exactly how much the property taxes are for this house. You can get this info from the tax accessor for your county. To avoid a huge tax bill every 6 months or annually get the current tax due & start saving for that. When you pay your mortgage keep out an extra amount for your taxes every month, if the accessor doesn’t have the current amount due take the amount for last year & add 2-5% depending on how much it went up over the last few years. Sometimes your bill only goes up a few dollars a year. To avoid a tax bill shock- set aside every month.
Great content! You due what's best for you. We all have been in this situation before. When it comes down to paying bills. I break down my bills by two paycheck. 💛
🙏🏾 I love the fact that you was honest to say how you got were you got and was able to recognize it and got back up and start the journey over awesome 🙌🏾🙌🏾❤
Hi, I was wanted to say i love your budgeting and cash stuffing videos. As I watched you overcome each financial struggle know that you inspire many of us to do the same, everyday! Keep at it girl, YOU GOT THIS ! 👐 - I think this is the jazz hands ?😅 haha sorry if it isnt
🙌🏾👐🏾 Thank you for sharing your story. Seems There are alot of hidden things that come with buying a home. I better over prepare for when my day comes. Hopefully they'll be reasonable in working with you once you get your balance lowered🙏🏾
Depending on you’re 401k there is most likely a fee to take out and potential fee for taking it out early. When I took one out years ago, they wouldn’t accept additional payments guaranteeing the length if payback. When there’s a will there’s always a way! You got this 💜
Thank you for that story. We had to do the same thing. My husband and I took out of his 41K. Just to pay for a home that we have no choice to buy. Because we were being booted out of the rental 2 years ago. ❤
I didn’t mind the long video. Thank you for sharing your story regarding the tax bill. It’s something I’ll be looking out for for sure. You are such an inspiration! Btw you have beautiful hands ❤
Thank you so much for watching... Yes, make sure that you ask as many questions as you can... I would love to do a live with a realtor or someone who works in the industry to try and give as many GEMs as possible....
I’m a new subscriber. I wish I would 38:41 have known about your channel when you moved in. I worked escrow and impounds for 11 years. I would have explained all of that to you. I love the 38:45 long video. Keep it up. I’m here for life. 🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾
Thank you so much for being here! Yes where were you Sis because...I have learned a good ole lesson. I really hope that I am able to help others with this info...
Thank you for this information. I want to purchase a home in the next 3 years and this is definitely something I plan to add to my list of things that can come up
Hello, I am new to your channel. I am so happy that I stumble upon your channel I have been watching a lot of your videos. I am starting back to budget and doing the cash envelopes. You give hope and the sense that it's okay to start over and you learn from past trials. Thanks for sharing and being so open with everything looking forward to more content. 🙌🏾🙌🏾
You stated you purchased your binder digitally. Can I ask how you put it in a spiral? I like how you can remove sheets and put them back when finished.
Hey girl hey. Love that you keep it real in the videos and you had many wins. Congrats to you 🎉 I do my budget in excel…I tried writing out my budget but ehh not my jam. Lol. But I also started cash stuffing as a way to stay on track. Only been 1 week. Lol. But wish me luck. 👐🏽👐🏽👐🏽
Yes, excel is good.. I think I like both...I am going to start exploring doing my budget on excel. Good Luck on cash budgeting...I really think that you will. love it
Hey Jasmine, I would have done the same thing. I'm not sure about how your 401k works but sometimes your tax person can split up the amount you would have to pay back doing rax time
