What to do if You Have No Savings (7 Key Frugal living Tips)
If you have no savings, life can be stressful. When you have a financial emergency and your first thought is 'I have no savings,' it can be a scary moment.
There are however a number of reasons that people might have no savings, it could be financial or health setbacks, overspending or other poor financial decisions.
In this video, I'm sharing some key things to work on to help you go from not having any savings to creating a plan to get cash in the bank!
When you are starting from a place of no savings, its ok to start small. Your big focus here is building the habit and consistency to achieve your financial goals.
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Good video. I totally agree with you that everyone needs an emergency fund.
As informative and insightful as this video is some people have NO idea what a ‘basic necessity’ actually IS. For instance I know a few women who will valet park no matter what, hair appointments, manicures and pedicures, happy hour, don’t even start with Starbucks, buying prepared foods as opposed 2 cooking from scratch, driving an extra 30 miles or more 2 run errands as opposed 2 creating a plan to save on gas. The list is just endless.
I’ve said all of that 2 say this. Sometimes the first step 4 specific persons is 2 sit down with a pragmatic realist. They r experts at helping find ways 2 cut back or save money. They can also assess a need from a want objectively.
Great content!
I know a ton of men who spend hundreds of dollars on sport event tickets, thousands on new or expensive cars, sometimes multiple cars, and fishing boats and stuff. I agree that a lot of people don’t understand what a “basic necessity” actually is.
Well said. Definitely an eye opener. These are all facts.
Thank the Kardashians for that.
It’s okay to save small amount of money each paycheck..
That is what I did to create my emergency fund…
I feeling more confident..saving just little money each month.
Outstanding. And don’t ever stop. Slow and steady wins the race!
So true
Watching from Toronto! This is timely and relevant in my life right now. Thanks a million 💕
I love that YT is recommending this video at this time of the year and I’ll ensure to share it!
Stunning video and I can definitely applying even with savings ❤️
Thanks so much for tuning in!! Waiting for your next video!!!!
@@Clevergirlfinance finally managed to record today, I’ll be editing ASAP should be up Saturday evening 😃
I just now discovered this channel. I LOVE the way you present the information. You are very composed and approach the subject very technical and rational. No screaming, stupid jokes or ‘trying to be interesting’. This is a fresh wind on YouTube. I wish you the best and keep the content coming. And as a bonus……SHE WEARS DECENT AND COVERING CLOTHES AND DOES NOT OVERDO THE MAKEUP 😍😍……..HENCE……THIS WOMEN IS ABOUT CONTENT ONLY
Totally agree with you!
When the pandemic hit back in 2020 I had only 3k in emergency funds and this was scary. Thank God for work from home. I looked into my spending habits. Living in an apartment I stopped using the washer and driers. Started washing my laundry and drying it in my apart on a clothing rack. Cooked all my meals. Thank God malls were closed. I refused to shop on line. Canceled every subscription. By the end of 2020 I had saved 25k. I kept up with the savings even when things opened up I was so used to my inexpensive was of living. I have saved 30K. I keep it going.
Wow!🏆There are small “portable” washers, some more automatic than others. They hook up to your regular faucet and your regular electric plugs. Clothes come out exceptional dry, I was surprised. Have an indoor laundry rack. Also if your apartment has a no clothesline-rule, you can just clothespin smaller items to the back of a lawn chair 🙂
Same !!
Great job! This has given me an idea.
@@adamarlem9863 where did you find your small portable washer, I’ve been looking for one?
👍 great
Excellent video. I am retired however, these tips are still useful thank you!
I truly needed to hear this video today. It’s simply and right to the point not overwhelming. I’m so glad I came across it. I’m going to look for more of your videos. I’m ready to get it together. Thank you so much
If you don’t admit that you have a spending problem none of this steps will help you. People live way beyond their means! They eat out, shop carelessly, feel entitled, have no common sense about spending, don’t save for emergencies, take vacations by charging their credit cards. If they decide to receive money management counseling than they may improve. Their are several reasons why people spend, it could be self soothing, grief, loneliness, depression etc.
And then they expect someone else to bail them out.
@@karlabritfeld7104 that’s a little simplistic. People go into debt for different reasons. Like unexpected medical bills or divorce. Everybody’s story is different.
Thank you! In my mid 30s, assessing my life, my spending habits. I’ve only now realized I’ve done nothing for my self but make the rich richer. No lottery jack pot here.
Better now than never! Remember- you can do this!
Live below your means and everything would be just fine❤️
I subscribed to your channel. I’m going to use your channel as a baseline regarding my goal of $10,000 by the end of 2022. I’m a 60 year old male starting from scratch and I really enjoy your simple tips, the clarity of your voice and the way you explain. I’m going to check out your budget planners and merch. Thank you for your teachings
You’ve got this!! 👏🏿👏🏿👏🏿🙏🏿 best of luck on your 2022 goal
One day at a time my guy.. I wish you the best of Luck
60 years old and starting from scratch. Good God, you live in the usa, what rock have you been living under?
When you say “it’s ok” I really believe you 😭
🙏🏾🙏🏾 it is!
Your channel came through my feed and wise advice young lady. I’m an old lady who has lived this for decades and it works. My hubby and I will come alongside people who are struggling and many who live below the poverty line. And those who sacrificed and worked their fingers to the bone (for a while the bone part.) Are the ones who transformed their lives. So I appreciate you giving me another tool to share. Last comment for the young, look for a wise older woman, couple who want to pass on their wisdom and come alongside you. We’ve done stupid and have learned many lessons. God’s Word has a lot to say about finances and it works.
Am really glad that I got to hear this
Nice video. I found that by living a simple, yet enjoyable life will result in a steady stream of savings. Examples: Watch movies at home instead of in theaters. Or, better yet, get out of the house/apt and take a walk and mingle with humanity and enjoy the outdoors and watch a sunset; Make your own coffee, or get it at McDonald’s instead of Starbucks; dress simply and tastefully instead of wearing expensive clothing brands, as generic clothing will keep you just as warm and comfortable as the expensive clothes. Eat more at home healthily and cut down on junk food and expensive meals at overrated restaurants. And the lists goes on and on. Where it stops depends on how much you want to save. The beauty of these suggestions is that you don’t have to do without, but just better choices.
These are the things they should teach kids in school
can also be from just not having a job that pays enough salary to cover your expenses, so you use every drop of income to survive, eat, bills…etc.
caring for an elderly parent/family member that has suddenly had a health change and medical cost or rest home/care facility cost is expensive, and they did not have any savings or did not prepare for retirement.
Thanks for sharing!
1. Know where you stand
2. Check your lifestyle
3. Set clear goals
4. Create a budget
5. Create an emergency fund
6. Make a plan to pay off your debt
7. It’s okay to start small/start as you can
A 3 year old video came across my feed at the right time. Good advice. Sell items I’m not using/closet clean out and it is ok to start small. New subscriber here!
Glad it was helpful! Thanks so much for subscribing ❤️