Do THIS Every Time You Get Paid (My Payday Routine)

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In this video I go over my payday routine of what I do with my money every time I get my paycheck. This payday routine has helped me a lot with building wealth in my 20s, so definitely try this out for yourself!
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🖥️ Budgeting Template: danielbraun.me/MyBudget
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CHECK OUT SOME OF MY OTHER VIDEOS:
▶️ Budgeting For Beginners | How I Save 80% of My Income: • Budgeting For Beginner...
▶️ I Ranked Every Credit Card (Here’s What’s ACTUALLY Good): • I Ranked Every Credit ...
▶️ 7 BEST High Yield Savings Accounts of 2024: • 7 BEST High Yield Savi...
▶️ How We Got $40,000 of Free Travel (with Credit Cards): • How We Got $40,000 of ...
CHAPTERS:
0:00 - Intro
0:48 - Step 1
3:31 - Step 2
5:54 - Step 3
7:08 - Step 4
8:47 - Step 5
12:33 - Steps 6 & 7
DISCLAIMER: Some of the card links and other products that appear on this website are from companies which Daniel Braun will earn an affiliate commission or referral bonus. Daniel Braun is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Опубликовано:

13 июл 2024

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Комментарии : 78

@Milkinporsche Месяц назад

Noticed the video editing is getting better and better.

@Daniel_Braun Месяц назад

Thank you for noticing! My editor has been crushing it and is way better than anything I could edit myself haha

@brainwave1397 Месяц назад

I would actually love to see a wedding finance video post- wedding. Let me know how much the venue was, how much the food was, the DJ, the photographer, and how much you got in value of gifts from your guests. I’m 23, and in my current life situation I’m expecting a wedding in the next 36 months. I’d love to hear.

@Daniel_Braun Месяц назад

Definitely something that I'll hopefully make a video about at some point! Weddings are way too expensive and it's tough to keep costs down sometimes haha

@The757bowler Месяц назад

Great video. I already know all the steps and actions needed, but I am still addicted to watching these type of videos lol.

@Daniel_Braun Месяц назад

Thank you! Haha I’m the same way honestly, I love hearing different peoples perspectives on this basic stuff so I’m glad I got to share mine in the video

@TheCreditFrog Месяц назад

Congrats on the upcoming wedding Daniel! It's definitely true though - saving up for a wedding is 100% worth planning ahead for. Personally, I saved for our wedding over a few years, and we practiced a lot of these good money habits that you mentioned in this video! Investing in yourself is also very underrated, and I glad you brought that up because it's important to keep learning and to continue becoming a better version of yourself!

@Daniel_Braun Месяц назад

Thanks Stan and congrats on your wedding as well! Definitely an event that's worth saving for if possible. Totally agree about investing in yourself - I'd say that you've done that very well with your career on and off RU-vid! Appreciate the support here 👍

@dntl408 Месяц назад

Great video as always, Daniel! Appreciate the helpful context!

@Daniel_Braun Месяц назад

Thanks Danny! Much appreciated man, glad you liked it

@chopperdoctor02 Месяц назад

I love your vids man. I just got approved for my chase freedom unlimited card, on my way to having the Chase Trifecta! Keep up the awesome content - Jake

@sjg6158 Месяц назад

Thanks Dan. Excellent work

@Daniel_Braun Месяц назад

Thanks Scott, appreciate the support as always!

@katherineaguilar8059 7 дней назад

could you make a video for highschoolers, juniors/seniors? Like the best tips for starting careers/college/managing credit cards etc... I really have no financial knowledge 😭 and your videos are both informative and engaging for me

@alexosmond1616 Месяц назад

Great video. Thanks, Daniel.

@Daniel_Braun Месяц назад

Thanks so much Alex, appreciate it!

@iPodGuyKDM Месяц назад

Great video, Daniel!

@Daniel_Braun Месяц назад

Thanks so much! Glad you liked it!

@GirthConfirmed Месяц назад

Very helpful video man 🙌🏼 climbing back from 10 years of reckless spending in college and over 13k in debt. Trying to balance paying that off, saving, and budgeting more effectively. This video is very informative

@Daniel_Braun Месяц назад

Thanks so much, glad you liked it! Great to hear that you're working hard on all of that 👍

@YoungMule Месяц назад

Great video, reminds me of the financial order of operations from the money guys. I’d like to mentioned that the opportunity cost for paying off debt varies based off your age. As you get older the interest rate considered high decreases. Money guy has a good break down of this.

@Daniel_Braun Месяц назад

Thank you! And yes, this was sort of my take on this topic because I think it's a great thing for people to share and talk about. Good point about how age plays a role in everything as well

@Aguynearu Месяц назад

so have you pc your sapphire preferred to a freedom and sign up for the sapphire preferred again with the new elevated bonus?

@BobI-jb4rk Месяц назад

Love this video & my HSA.

@Daniel_Braun Месяц назад

Thanks Bob! Glad you liked it! HSAs are so underrated - I’m mad that I can’t contribute to one next year unfortunately

@lexihartman2776 Месяц назад

Hi Daniel, can you make a video detailing the net worth and places to move profit section. I’m having some trouble initially moving money to my high yield and subtract from the total left over instead of adding to it.

@Daniel_Braun Месяц назад

Yeah already made it! Check it out here: Budgeting For Beginners | How I Save 80% of My Income ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_JBxP_oz2kQ.html

@MichaelCarrPilot 25 дней назад

3% to 401(k) also with direct contributions from employer but no match. Maxing HSA and Roth IRA. HSA is converted to Brokerage HSA. What do you invest with the HSA money?

@Sakurasan2023 Месяц назад

Great video 📹 👍 ❤

@Daniel_Braun Месяц назад

Thanks so much for watching!

@Sakurasan2023 Месяц назад

@@Daniel_Braun you're welcome!

@nickywaggs8672 22 дня назад

What are your thoughts on Dave Ramsey?

@RaijoNirmal Месяц назад

Hey Dan, I think you missed to upload the spreadsheet. Would really appreciate if you share it with us. Keep up the good work. 🙌🏻😊

@Daniel_Braun Месяц назад

It’s linked in the other video in the description. That other video explains how to use it, and then the download can be found there 👍

@RaijoNirmal Месяц назад

Thank you so much. 🤜🏻

@christopherxavier4952 Месяц назад

I’m not sure if the numbers on your graphics are accurate but I’m out here in California being mad envious of how small those numbers look haha

@Daniel_Braun Месяц назад

Those aren't actually my real numbers haha, they're just placeholder numbers because the spreadsheet would be blank otherwise. But anyone can download that spreadsheet to change things for their own lives 👍

@tnr2078 Месяц назад

Do you have any thoughts on using a backdoor ROTH IRA method?

@Daniel_Braun Месяц назад

Worth it if that’s the only way that you’re able to contribute. Something I’m doing as well

@CountDookuful Месяц назад

Ah yes, the FOO

@Daniel_Braun Месяц назад

Yeah, this was pretty fun to sit down and write out the steps that I like to do more my order of things 👍

@thomastevis8655 22 дня назад

When ever I get paid I spilt it in thirds one to household one to rainyday and one to me

@tobby12347 Месяц назад

Great video! But your link no longer works for the budget template

@Daniel_Braun Месяц назад

Thanks! And I just tried the link and it’s still working, so maybe try again? Let me know if it’s still not working, but here’s the link to the video with the download: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_JBxP_oz2kQ.htmlsi=bZJ9CWEGxx1KyKsR

@gilberto_j Месяц назад

This is unrelated to the video but what are your thoughts on the Capital One Savor card with the $95 annual fee? You dont mention it at all :/ but Ive seen that youve put the Savor One in the S tier

@Daniel_Braun Месяц назад

There's a breakeven point in spending where the Savor might make slightly more sense than the SavorOne for some people. But for the large majority of people, the SavorOne is plenty good enough and makes the most sense in my opinion.

@gilberto_j Месяц назад

@@Daniel_Braun thanks so much for replying! I spend alot on dining so the 4x multiplier is worth it for me and the only other card that offers 4x points on dining is the Amex Gold, which I kept getting offers for, but I didn't want to pay $250 so the Savor seemed like a good alternative

@coreyw5981 Месяц назад

Anyone have a good Mint replacement? Nerd wallet and sofi relay are always super far behind and aren't accurate and up to date. Hows free version of rocket money?

@Daniel_Braun Месяц назад

I really love the manual approach, at least for a few months to get a great understanding of spending habits. I've used Rocket Money though and I enjoy that too. Maybe I'll try some more budgeting apps

@93aMike 24 дня назад

I use the paid version of Rockey Money, its worth it to me. I have also heard really good things about YNAB. They have a free trial you can try out for 30 days or so if you want to try it out.

@YaaliEboni Месяц назад

I cannot remember which video in my history but isn't the invisible spending umbrella on a credit card 30% of the card limit?

@sol_nb7143 Месяц назад

whats the watch your wearing in the video?

@get2dachoppa249 Месяц назад

I was wondering the same thing. Looks like a Subby on a Super Jubilee bracelet, watching on an older iPhone, rez not the sharpest.

@Daniel_Braun Месяц назад

Omega Speedmaster Professional! New watch I could for my upcoming wedding

@sol_nb7143 Месяц назад

@@Daniel_Braun ah nice. Looks good

@Daniel_Braun Месяц назад

Thank you!

@SOXGATORS Месяц назад

😊

@Daniel_Braun Месяц назад

First comment! You're the best 👍🥇

@briancrizaldo7640 Месяц назад

Is 401k still worth it if they don’t do company match?

@Daniel_Braun Месяц назад

For the tax benefits and investing for retirement, yes. But just be aware that the money is basically locked up in it until you retire - early withdraw has a penalty

@Louboy2 Месяц назад

I thought Roth IRAs have a 10% penalty if under the age of 59.5 and earnings are tax free after 5 years? Feel free to correct me!

@Daniel_Braun Месяц назад

The penalty is for withdrawing earnings. Like I said, you can withdraw contributions at any time because you've already paid taxes on those contributions. But I would still leave the contributions in the Roth so it can grow - withdrawals on the contributions are just nice to know that you have that option

@sunshinecycling Месяц назад

Be very careful on the "withdraw contributions at any time without penalty". There is more to the story...

@Daniel_Braun Месяц назад

Another reason why I never withdraw contributions - not worth it, but it’s there as a backup option if needed which also gives a little extra peace of mind 👍 Still better to keep it there and let it grow over time though

@cole580 26 дней назад

Ah yes, the baby steps of Dave Ramsey

@Quangcurry13524 Месяц назад

What’s ur job apart from RU-vid?

@Daniel_Braun Месяц назад

I used to work for an insurance company as an underwriter. But RU-vid and my media business is my full time thing now

@lunga.06 21 день назад

I want to be like you

@DubDigital 25 дней назад

Why invest in a Roth IRA and not a regular training account? It's all taxed...

@Daniel_Braun 25 дней назад

No taxes on earnings in Roth. Taxed on earnings in regular brokerage. Over decades of investing the savings are significant by prioritizing Roth IRA first