How Can I Save Money Only Making $15/hour?! 

Whether you have 1 million or 100 dollars, you must know what to do with it. The principle remains.

I totally agree! I could care less about the people who inherited a gagillion dollars or whether the person with millions should spend $1,500 on a vacation.

They take those calls for views/clicks

amen to that

yes i agree as someone in this situation new grad basically making the same

Facts

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Right

Facts

Try the cash envelope system and it’s all over utube

Learn to cook, cancel cable subscription, stay home on weekends, free furniture from craigslist... it's common sense with a little discipline

@@jackedkerouac4414 Sounds like a fun life :) I think you dont need to stay home for weekends. You can still do stuff, without spending money

@@07Paule "stay home on weekends" is shorthand to mean set an entertainment budget and never go over it but there's a reason ppl literally stay home to save money. Majority of ppl drink and nothing will empty your wallet faster than going out to party. Inhibitions get low and all of a sudden you run a bar tab lol

@@jackedkerouac4414 Drinking is not expensive, drinking a lot is expensive 😀But yes, kind of waste of money, agree

He can save 1000 a month if he gets some discipline

Seriously.

Yes, And when your only job requires demanding hours or in his case probably a strenuous work day, there is not time left at the end of the day with the end of the week to go and get another job. Also, very few jobs are only hiring for once a week. Additionally, he’s living in one room of the house somebody owns, and they’re treating it like he’s already at the highest level of living. If his salary does not increase, he will never be able to move up and get a home. Granted, I know not everyone is deserving or the hardest worker ever, but keeping people in their 30s and 40s needing to rent out a room because their stable job does not pay enough when unemployment pays twice that is a problem that so many people are facing

@@cdw222 your response is lengthy. But I stand behind it too. It’s a struggle out here if you aren’t self employed, have a career, or work a trade job.

@@branpod It's true that his lack of budgeting is a problem. You say it is the biggest problem. I'm not saying the following to be an annoying hair splitter, I'm being sincere: I say it's a significant problem. Why is he not budgeting? I think he is a bit beaten down by the little that he has and he sounds hypnotized (helpless/autopilot) by his situation. The beaten down feeling is stopping him from budgeting.

He definitely reminds me Of me 3-4 years ago.

Not to be nosy...but how did you get approved for a mortgage while only making $17 an hour and with $15k in debt???

Wow!! That's amazing

What state?

Where do you live? How much was the house? There are 50,000$ houses out there.

mdooms76 what state mrdoom?

congrats, all the best to you and your family going forward.

So you invest 20-25%?

Where do you live?

??? Your are amazing!

Saul Goodman not BS, I bet you that’s exactly what he’s making. My husband makes $14.00, and I make $14.00 an hour as well. We own a 3 bedroom Condo, and are working excessively to pay off credit cards that helped during a job loss and health crisis. But we’re sitting pretty on what we have, and are very thankful we have at least $1000 already saved for emergencies.

😭

He’s just in a position where most of America is. $15 is pretty good when most average everyday jobs pay less. Sometimes 15 is great for some 2k a month is pretty good

😢😢😢😢

@@thelavinalionnefirm it hurt right? 😭😭😭

@@N452ER to the core. So many people are looking at themselves like idk why I only make $$ amount of money.

same here. That $8 here $12 there ads up real quick.

Same right back. Started realising how easy takeaway eats at a budget. Here in the UK, it's at least £15 minimum for one meal plus all the service charges and deliver charges on top for really average food. I shudder to think how much I have spent in the past that could have been saved. You live and you learn though :)

Same here. I was shocked!!!

Exactly. I remember getting my first job years ago and being told, " don't eat your whole check". Lol. But yes, I started learning "copycat recipes for this reason. I know my hungry self wants that restaurant taste so I start learning those recipes. Or at least something that tastes close to it so I'll be satisfied

@@07ikkin i like that one don't eat your whole check. May start using that xD Also i think i need to learn some copycat Taco Bell recipes because whenever i do convince myself to get fast food it's some T bell lol

Totally agree. Once I started budgeting, I began to find money.

Its the best way to grab a snapshot of your financial situation

Same here! I'm so thankful that I found Dave! I was not budgeting and had no direction regarding my finances before I came across Dave 2yrs + ago! I wish I knew about Dave when I was 24, I would have alot more money saved.

Budgeting is the only way to keep ontop of your spending habits most people just spend spend spend because they want what they want regardless of how much it is

I overhauled my entire budget in Jan 2019. It helped push me out of 23k of debt by December! This year, even w ev thing that’s going on causing hits to my income, I now have a fully funded emergency fund, I’m saving for a house, and I’ll have a Roth opened by the end of the year. Hooray for the budget!! It totally works 😅

j mc 👍🏽

Well said

It would be easy for me, draftkings and fanduel.

In real life, when I meet people who say they don’t have any money left to save, you can usually identify the problem pretty quickly, by seeing where the money they did spend went.

Something like 50% of workers make around $30k (or less) a year, so he indeed represents the majority of people (in America at least).

Sometimes...

@@N452ER yes, but if you live like this is true all the time you will benefit regardless

It is about your income when you are making 15 dollar an hour buddy

Right.

This comment reminds me of Grant Cardone saying : " you don't have an expenses problem. You have AN INCOME problem " . Quite frankly it all boils down to the fact that you can increase your income but you can't reduce your expenses below zero.

Exactly. I make $16 an hour and have worked at least 50 hours per week for the past two years. Comes out to $45k every year!

@@Tonybob_Skinnyjeans good job!!

With 15 dollars an hour you are never gonna be walthy bro never even think about it not even gonna save anythinf

@@pikjancahani809 there are those how make over 100k and they end up broke because of their incompetence, so try again troll

Aa!

I don't know what he was expecting when he called. He said "how do I save money" but didn't really have any information on his own life.

@@marudoethiopia get some envelopes and put money in each every paycheck haha. Keep it simple. Its amazing how much people spend just seeing this amount available and will make it work on an amount after you put money into different funds.

"JUST GET A BETTER PAYING JOB BRO. " ......Ok and do that with what skills, education, or ambition. Really out of touch

I mean it really doesn’t take much to make money. A drivers license could open up a ton of jobs. Even with Instacart and doordash I’ve made $25-30 an hour, $1200 a week.

well they tried. They asked him his expenses and then asked what is he doing with $1500 but he doesn't have a clue. That is the answer, find out what your are spending money on and then try to rationalize if you need the expense or not on each thing. He also didn't seem to have any sort of life plan or goal to try to work towards, if he doesn't do that he will always be in the same place.

I was getting paid $14 an hour working in a warehouse and being a driver there too Monday through Friday I think like 7:30 to 4 and before that I was working in restaurant so this job was way better in terms of lifestyle and just being home when I wanted to be with my family but man especially when you have like a family in real bills that's so not enough it really isn't I went back to school while I was working two jobs I still have to get a night job while I was there so either way and weekend but yeah I went back to school and got a grant to get my CDL and now my life is completely changed thank God

Beyond Tribalism yeah if you live in New York or California.

@Beyond Tribalism $15 is pretty bad if you are bad with money. It can be done if you live frugally and stay out of debt

Michael Marquez May I ask you where and how you got the grant for the CDL course?

$15 is hardly any money. The cost of living is constantly going up while pay stays stagnant. You can’t survive off that unless you live in the middle of no where.

This is a great game plan

If you do an apprenticeship, they will pay for your schooling. And you are working for them at the same time. My husband is an electrician and he just graduated!

The Stay at Home Marine congrats on your husband! I may want to do the same thing. How long was his apprenticeship? He got paid to learn basically?

Spot on. In fact I would leave Amazon, go somewhere, a trade, etc. Where you add known value and aren't just a number assigned to you by a large corp.

is taking up real estate something like a trade? or would you deem that too risky?

Exactly! I get so discouraged hearing them knock income that I can't even achieve. 😫

I know right.

The country where I am from makes only $5 per hour but $15 yikes I wish that was here.

@@alienanne3269 I believe our federal minimum wage here is $7.25 The cost of living is just too high for that to be our minimum wage.

It works out being underpaid for how much you work and the hours you put in ... one of the hardest jobs iv ever done in my life and iv done a lot ... should be getting 20 an hour

I am a driver for Fed Ex I see it every day.

@@trolli1266 haha

Tell people to put $5 a side

That seems low.

This is correct

What you do now?

How much did you put into savings per month? Was it 400?

Did you live at home?

@@WholeHeartily he had to, otherwise the doesn't make sense

@@NiaMSnow Right?! Rent is steadily increasing. Making $15 an hour is barely enough to keep a roof over your head. Much less continue to commute to work.

So what does this mean ?

Agreed. That applies to me.

@@Deeznutz... it means if you spend more than you make at $15 an hour you will do the same with$50 an hour. Your purchases will just be bigger or more often.

Save I miss my grandmere

God bless her!!!!!

@Josh Na, Just a Christian

She also threw her life away by “saving money” that wasn’t spent. Money not spent is useless.

@@jamesspann4541 WRONG, I AM ENJOYING MY GRANDFATHERS SACRIFICE IN BATTLE OF THE BULGE TOO. YOUR WELCOME, CARRY ON.

That was nice of you...but I hope your dad paid you back or realized He was the Adult...and it was ON HIM to provide for his own rims/wheels. I hope you get back to your awesome handling of money. Next time, maybe left Dad grow up and become the adult he is supposed to be!

Couldn’t agree more :)

Correct

Every illegal in AMERICA does this but entire life

I don’t agree. he should increase his income as full time job at least. Working two jobs is just not wise. Life is not about work. We don’t live to work..

No you got to live you can't spend all day at work that is degrading. He needs some time to work towards a better position on the income ladder.

In the same boat, I live in Cali and thinking about moving out, you know any place that has lower rent ?

Heck yeah, Kyle

@@ericlsena Florida

@@ericlsena Huntsville,Al

Honestly you can lose weight without counting calories, that is not a good analogy.

@@MR3DDev Of course you can. But you have to track something - whether it's your calories, vegetable/fruit intake, sweets, etc. Tracking makes saving money (or losing weight) easier for most.

@@MR3DDev agreed, if you exercise regularly and don't eat like your stomach is a radioactive dumpster, you can easily lose weight without counting calories

TechYK I’ve gained and lost weight many times. Down 100 lbs. please tell me?

Jane you will be more effective if you did count calories.

That is freaking impressive! Congrats!

You got roommates or staying with your parents?

Awesome! Keep it going

@@TheQuickyouknow I was renting a room while saving up, also got a weekend job as a doorman. I live on my own now 2 bedroom bungalow

@@shanedraper240692 You're living the dream dude, I hope to be there in a couple year (15k so far)

Bingo that part

What if you live in jersey, ny, cali?? Lol

@@94mac I live in Cali and still save

Exactly

“Plenty” for someone without bills or other financial obligations.

Exactly, is like u talk about me

Something’s gotta give

He does have a bit of an income problem, doesn't mean that 15 hr is the main problem. He needs a second job.

elmer340 true. $15/hour isn’t great, but if he would start a budget I’m sure he could find some money leftover each month. I agree a 2nd job would help tremendously

Agreed but at least he was willing to call in and ask for help. He represents millions of average Americans. Hopefully his phone call will help others.

I make $15.57 an hour, 8.5 hours a day, 5 days a week. I save $1,500 a month... no debt, mortgage is $725 a month. If i can save that much a month, then $15 an hour is a perfectly livable wage.

@@raleigh2747 you lair you must, come from a wealth family. Or no bills. Or rent. It hard to save. With $15hr.

that’s what ineed to do realist thing ive read all month

I get pleasure seeing my savings and investments go up. I've made a habit of tracking my net worth in a spreadsheet. It's so much more fun seeing the numbers go up than down!

@@regieds facts 💰

it all makes sense now!! 😂

Me and my baby mama broke up because of that reason I love to budget the money and not be in dep for stupid reasons

🧢

Being conscious of your money... tracking it?! Why aren't MORE people attracted to financially responsible people?! I don't understand this tbh

@@buttermonkey33 there's a difference between being conscious of money and being a cheapskate. He's probably a cheapskate.

J Nimitzch £15 is nowhere near $28 😂

J Nimitzch You should just delete your comments. You’re literally trying to paint a FALSE picture of life in the Us vs Uk based on your one friends experience. Do you not realize that the “US” is literally one of the largest countries in the world and it is NOT a monolith. There is no standard of living on a specific wage for the Us as a whole. Seattle, NY, LA, etc. will be vastly different from somewhere in Alabama, Phoenix, etc. your comment couldn’t be any more useless, annoying and misleading

Sweetzs100 he deleted it 😅

Exact same wage for me, and exact same goal by the end of the year. So nice hearing someone else did it.

Pay your first good mentality

Income - Savings = Expense

Proud of you, man. You give me hope. Pray that I do make those right movies. I just turned 39; no debt, working as a freelancer (making about 22-35 an hour), single with no kids, renting with roommates.

1 million will almost be worthless in 20 years. It’s best to start putting money into valuable assets that can hold value while inflation rises.

@@livepoetic390 that's what he means... 15/hour while investing. You cant turn 15/hour into 1 million in a bank account. With inflation your assets will rise more proportionately.

I am working on that now.

Facts 💯 💯

Well said

The company is only that big because people wont shop elsewhere.The CEO would have nothing if it wasn’t for the spenders.

AndJustLikeThat I’ve bought nothing from them and never will.

Poor guy here 👋🏻: no offense but that is a foolish way to think. The company is enormous but isn’t obligated to pay its workers for their benefits. After all, it’s a job for most and not a career. However, if you apply for positions you can work your way up-even if it isn’t much but then that’s where budgeting starts to come in and it may not be complicated: depends the state your live, household mortgage, no debts, living frugally, etc. …Yes, life is unfair but there’s always a way to cut corners.

Between my wife and I we make 30 dollars and hr. No children no cc debt. Car payment of 375 a month. And we can barely save money.

That's what I do.

That’s actually a very good quote

I should know, I did it. What help me was planning out all my meals for the and cooking and storing my meals in a freazer. I managed to get my meals down to $1.20 doing this.

Yep they get to work the a cartel while the rest of us work for normal employers!!!!!!! I did not know what to think of that statement either!!!

Same

Same.

not in atlanta lol

What state y’all in

@@donjulio7330 Ohio

A credit card balance is a form of debt, doesn't matter if he used it to buy a car, or pay for daily expenses.

It is debt. It's on your credit history as credit line of debt. He just makes sure it's a 0 every month.

You wont convince the Ramsey crowd that a credit card isnt debt. But yes, If your starting balance at the month is 0. And your ending balance at the month is 0. No bank or business would say you are operating on debt

8594369 Exactly.

My credit card makes me money. I use it to pay for everything possible each month. Bills and expenses I would pay in cash. I get cash back which I cash in every month before paying it off. I pay less than I would if I paid in cash at the pump or at Target. This cash back applies to everything I charge... Water bill, cell phone, etc. Stupid not to do this. I don't charge anything I don't have planned unless emergency.......which seldom occurs as they are emergencies. I pay those 'one off' charges in full from my emergency funds at the month end....less the cash back. I have started with zero balance and pay in full each month for at least 15 years. I also earn Skymiles. I've flown 'free' to Europe, Hawaii, New York and San Diego. Using my credit card benefits me greatly.

No Mike, 35 is not late!!!!It's never too late to work on your finances!

Never too late, the debt snowball method is the most fulfilling way to start paying down debt.

You can do it!!!!

You got this bud

Still young bro!!! Keep pushing man

Yep

Bro my one bedroom is 1200-1300 in a run down neighborhood but I'm over charged

Not in Colorado. Maybe a storage unit .

Right ✅️ every state is different.

🤣🤣

Facts

😂😂💯💯

Drugs get expensive and friends that dont work get expensive guy sounds like he getting high during the call .

😭😭😭😭😭😭😭🙌🏾

How did you do it? I'm in the same predicament but my husband and I have a kid, and many Billss 🤦‍♀️🤦‍♀️

@@keyandrephillips8840 having kids will make saving a lot harder but chances are some of those bills can be eliminated or lowered in some way, most people in some way shape or form are over spending, from my observation usually people who are bad with managing money before having kids are just as bad after having kids or worse and they blame having a kid for their bad financial habits. I ask them questions like, what do they spend money on in a month and there's a lot waste and/or they don't know where the money is going. 1. So figuring out how much your expenses are in a month exactly and where those expenses are going is step number one. 2. Figure out what debts you owe, if any, and who you owe them to so you can eliminate that, and probably avoid debt from that point on unless one spends a lot of time educating themselves on matters of finance economics and accounting and consequently can use debt wisely(some argue that is impossible, maybe they're right, but most should avoid debt either way) 3. Figure out what your working with exactly to solve the problems and grow. So track exactly how much money y'all make and your assets(money, investments including retirement, house, etc), also you keep and eye on the value of the car cause it may be best to get a lower cost vehicle that has no or low payments. If you do have a car payment it's usually best to refinance with a credit union cause they usually offer lower interest rates from my experience. 3. Make sacrifices by cutting expenses even if you dont want to(i can guarantee you there are expenses you can cutt) & look for ways to increase your income, looking for a higher paying job is a short term solution to a long term problem.. what you want Is a higher paying skill... you do that by using your free time and money to learn a higher paying skill 4. Start long term prudent investing practices because that is a tax advantaged way to increase wealth and income 5. Continue learning about personal finance and using what you learn to build wealth and increase income These are some basic beginning steps

@@Je.rone_ thank you so much 🙏 I recently got married so I talk with my husband about it. Im canceling all unnecessary subscriptions, called geico and let them kno I'm married 2 days ago, my premium was 2800 and went down to 2300, that's a huge jump!!! So im definitely putting things into play!! Thank you again

@@keyandrephillips8840 that's awesome to hear!!! And my pleasure keep it up😀

Very true, there is barely a budget out there that can't be cut down in some way if it really needs to be

@Eileen Exactly. The credit card is working to his advantage.