I feel you on not wanting roommates. I don't blame you for spending a little more to maintain your privacy and I, personally, see nothing wrong with it. I've never liked how strict Dave Ramsey is about stuff like that.
Dave's actually not as strict as ppl portray in RU-vid comments. I'm not gonna make assumptions on if you read TTMM, but actually reading the book shows just how much his plan can be tailored to different situations and what makes one comfortable.
i totally agree with you on no roommates! Although it would help me financially i in no way miss the drama that a bad roommate can bring into your life. Your peace of mind is valuable too.
@@MrsThollo people don't get that he's trying to put every idea on the table. Most people don't do all of it, but some of us never stop working, some of us eat rice and beans, some of us sell everything in the house. If you do everything he says, you'll be out of debt the quickest way possible. Your choice whether or not you want to do that
Moving is expensive and stressful so I agree I would only move if it cuts your expenses significantly. Let’s hope for student forgiveness this year, I think it would help so many people ❤️
I have been working the last few months on reviewing my finances and paying things off and setting goals. Love to see others doing it to! It’s so possible!
Anything is possible! Hope you’re able to meet your goals! I plan to pay $26,000 this year based on just my income:expenses. But I’m hoping to farrr exceed that somehow with additional income, bc I owe over $80,000 in student loans 😩 lol. I feel the same way about the student loan forgiveness. Thanks for sharing...helps me stay motivated! 👊🏿♥️
I need to sit down properly and do this! I have a rough idea of goals but I think it’s so important to have a detailed plan. Thanks so much for sharing! Hopefully you’re debt free by the end of the year! You can do this!!
I love that your challenge is going to be a real challenge, and I am so glad your channel was recommended to me.. buh-bye student loans.. I think once I buy my home I am going to work on a yearly budget maybe 2022 you have inspired me
I'm a nerd too and this was so fun for me. I love doing stuff like this. I have an accounting degree, but personal finance and budgeting is so much more interesting to me.
Love the clarity and precise explanations! Not that you need to explain anything, but it’s nice to know I’m not the only one not willing to have a roommate 😂 just to save money. I appreciate the numbers bc I am a numbers kinda person and general salary is similar, as well as debt on student loans (about 8k) and car (12k approx) . So if you can pay off yours then I really have no excuse lol. I’m excited for this challenge this year! Funny too, I started the $500 a month also instead of stashing cash at home to show I can actually save in hopes of buying a home. **fingers crossed ** going to be a hopefully painless process. Anyway, thank you for your vulnerability. Be well!
Having a roommate can be scary!! I don't have any close friends that I would trust so yeah, even if I could save money it's not worth it. Sounds like you'll be able to make some good progress this year and also how exciting to start saving for a home!! Thank you for watching and your kind comment! 😊
We paid off my wife student loans in January 2021 of $16,000.00 it took us 9 months to do that, 0% interest helped a lot! Good luck in paying off your student loans in 2021!
hey Leila! Since you mentioned the possibilities of your income growing this year I thought it would be really cool if you sold your excel templates on etsy that you showed in one of your monthly updates . I think it would be really helpful for people.
Aw thank you!! I've been thinking about finance products to sell, but I actually have free templates like mine! docs.google.com/spreadsheets/d/1PWYnCNE34V7N7H3ujaSckEewSzCnieYLfVRpxfwdJY0/edit?usp=sharing
With regards to your apartment, I would see if you can negotiate rent when your lease is up! A lot of areas cost of living has gone down with the pandemic-- the worst they can say is no :)
Last year I negotiated the increase and they did lower it a bit! Luckily I also moved into my apartment in February 2019 which is a slow month for them so I got a really good deal for where I live. But absolutely I'll be negotiating again 😊
Great video! Excited to follow your progress. Don't move! You are happy there - it's safe and convenient - and the money you would save is not enough to move the needle. Plus you would spend a lot of that with deposits and moving costs.
Really great video and some insane goals that you 100% can achieve - so interesting seeing other peoples goals but i love that yours is so focused on a debt plan - you got thissssss!!👌💗
Hey, I have been paying half the school loan the whole 2020. And also this year starting. But I only owe 15 600. If he does take off 10,000 thats amazing cause I can pay off the 5600
Not having the student loans interest is going to help you so much, to pay that off. You will be debt free by Dec 31, 2021! We will cheer you on all the way there.
Good for you and good luck this year. My numbers also do not match up for what I want to accomplish this year. So I plan on working 2 extra days a month this year to make them happen.
I pay my moms and brothers phones and they pay my car insurance cuz it evens out. I totally get it lol. For spotify i would go on Amazon and grt $99 giftcard it saves you $20 bucks and you only have to pay once a year and it doesnt charge your card. Just a suggestion lol.
@@PersonalFinancewithLeila yes!! I’ve been noticing that lately. Like if you buy the annual subscriptions and pay up front sometimes they offer additional discounts or like it just comes out cheaper. I know some cant pay the full fee u front but I’ve been saving all my credit card cashback and cashing in every January and thats how i pay for my stuff annually. I do this for spotify . Crunchyroll. And this year i did it for 6 months of barkbox cuz of the pandemic my bby dog needs toys since we can’t socialize. Lol that’s all the subscriptions i have so it works for me. Just anywhere i can save is good for me .
@@PersonalFinancewithLeila oh and car insurance too. We pay 6 months up front and its cheaper than paying monthly. So like $20 here $5 there and then i was like i just save $100+ this year just by paying annually lol
I totally agree with you on not wanting a roommate. I live in one bedroom apartment in LA for $1800 but I’m fine with it because it’s a rent controlled building + I’m a photographer and had my friends& roommates stealing my cameras previously so I would be anxious to live with a stranger
I don't even have a close friend to be roomies with out here lol, so yeah I could not do strangers. That's so upsetting that your cameras were stolen 😕 There are so many positives to living alone!
I'm not sure where you live, but that number seems very reasonable for your rent and utilities. The fact that you feel nice and cozy and safe is a huge plus as well!
That must be whole life insurance. I got out of that. The first few years is mostly commission to the agent. I took the loss and grabbed the remaining money.
Im just trying to pay off my $40K of debt not counting my car or student loans. I think im going to just sell my car 😭 Life is so much more bland when you live frugally and budget every dollar. It has taken me 27 years to finally realize I HAVE to, PERIOD.
Get it girl! 2021 is your year! Bummer on the life insurance . Not sure how much you’d lose to get out, but for reference I pay $420/year for $1m of 20 year term
Thank you!! At this point I would probably lose $7K. Mine is life insurance ($500K) + long term care and it's been explained to me a million times and I still don't completely understand it 😕
@@PersonalFinancewithLeila ...did you give the insurance salesman a lump sum of $7K? 🤭. How long do you plan on paying this insurance? You might want to make a video in this...if you got screwed over, chances are there are lots of your subscribers who could benefit from avoiding the same mistake.
Hi Leila- Why exactly are you "stuck" with the life insurance? I could detect it is a frustration for you. I would encourage you to continue researching that. I'm married with 2 kids -ages 13 and 9. I took out a 20 yr term policy. I wanted this in case something were to happen to me since they depend on my income. Don't allow someone to "dangle" a sum of money over your head for considering dropping the insurance-which by the way only goes to your beneficiaries when the time comes....I'm not a financial advisor, however I feel the $90 per month could be of benefit to you now:) Jeff- Cleveland suburbs/Ohio
Exactly if you don’t need it, no point in having one. I want to get one soon because I have to children and my brother passed away because he got hit by a vehicle, made me realize how unpredictable life really is and I don’t have anything in place for my sons except for their education savings accounts 😓
Well, if I cancel it now I would lose everything I've put in/gained. So probably about $7K at this point. What I have is considered life insurance, long-term care, and an investment?!? I truly don't understand it. I was told I could stop contributing at some point in my 30s and I wouldn't be penalized and still have it in place. My beneficiary is my sister and I don't want children, so I don't anticipate needing it but I just figured it's whatever since it's not too much/month. Idk it's tough 😫 Oh also, I was told that at the age of 37 I could cancel the policy and get everything back that I've put in. So I still never know what to do.
@@PersonalFinancewithLeila I worked at a bank and even if you don’t currently have children/spouse or plan too, the beneficiary of your estate when you pass is still in charge of paying funeral costs and paying off things that we may not expect to come up like cancellation fees for apartments, bills and even cars ( I know you’re working towards paying off these things) but I’ve unfortunately seen the people left to take care of these costs struggle or go into further debt when there was no insurance of the past loved one to assist. Not saying the company you’re with is the most beneficial and you should stay only with them, but if your work isn’t paying for a basic life insurance for you, a small amount of life insurance is still better than nothing. I hope this is found helpful.
@@maureenodonoghue this is helpful and makes a lot of sense, thank you! I also thing long-term care is important to have just in case for the future, I just wish I understand it better. This is exactly why I figured $90 a month isn't too much!
Another thing to consider is the older you get the more life insurance will cost. Sounds like you have whole life(which builds up cash value) unlike term life insurance. It is harder to get life insurance if you develop a major health problem down the road, so that’s why some people buy life insurance when they are young.
I just found your channel and it would be super motivating to see where you netted out with your debt repayment payoff at the end of 2021 but I’ve watched two other “end of year” videos and haven’t heard you address it. Can you link here ? Hoping you met your goal!
Unfortunately I got nowhere close!! Lol I talk about it here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-AF4zg0X_dqQ.html Around the 7 minute mark!
I have a big loan which is taking almost 45 of my monthly income and this loan is for the next 3 years and it is making me crazy even if its kind of investing.
I don't think life insurance is bad at all, I just know that the policy I have is probably not best for me! From my understanding, if you have children and/or other dependents, term life insurance is the best option. When I was 22 I wanted to start investing and I was advised to open this "retirement account" not realizing it wasn't the best option for me! Hopefully that makes sense.
Thank you!! I actually tried to consolidate a couple of years ago but I could never get approved on my own. And I'm actually glad I didn't because it would have been a private loan and that point and I wouldn't be benefiting from the student loan forbearance right now!
@@PersonalFinancewithLeila I had the same problem a few years ago. However, I was actually able to consolidate my loans this year. They call it a graduate consolidation. My main student loan company paid for the smaller 3 loan companies giving me one payment rather than 4 payments with different interest rates.
@@PersonalFinancewithLeila Yes, I believe so. Right now it's 0% interest. Payments were supposed to start this month but it was extended to September. However, I'm making payments so that it can get paid off asap.
Thank you so much!! Was it a couple weeks ago?? I received a notification on the 15th but it doesn't tell me who used it. Thank you so much though, it's a great card!
Not that my opinion matters but I would cancel your life insurance. If you have no dependents it just doesn't make any sense. Just consider whatever you've paid as a live/learn item and move forward. We all have done it.
Yeah I've gone back and forth and it's just something that is "there" at this point. The insurance plan is also long-term care for the future so I just don't know lol
Have you looked into COVID related hardship programs with the life insurance company? Job uncertainty is a valid concern for many these days. They may be able to adjust your coverage down to just death benefits. This could lower the $90 per month considerably while keeping your cash balance intact. It might be worth an hour on hold lol.
@@PersonalFinancewithLeila 100% cancel it... whole life is too expensive! You could get term life insurance at your age for like $5 a month plus a simple disability plan for way cheaper than $90 a month!
btw... check if you can get PPP loan or EIDL grants. Look at your tax retuen and checj if you are elegible, Im guessing you might be. That could be a couple of extra thousands.
A sinking fund is just saving up for something specific! I have sinking funds for gifts, car maintenance, medical/dental bills, travel, etc. which I contribute to monthly. Then if I need to fix something on my car for example, I would pull that money from my car maintenance savings. Sinking funds are the best! I do have a full video on it! : ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Z5Xl7jv89ZM.html
