[Music]
how's it going today guys so today we're
going to be talking about my three
favorite ways to save money in the
easiest way possible so why am I making
this video one of the most common
questions I get on my channel is
something along the lines of hey I would
love to invest in the stock market but I
just don't have any extra money to
invest how do you recommend saving up
money to invest in the stock market and
this is three very easy ways that you
can do this in fact one of these ways
will automatically invest in the stock
market for you that's number two there
with acorns but the first app is an app
called Ernie and Ernie has been nice
enough to sponsor this video so if you
guys do decide to download this app make
sure you do use the link in the
description I'm sure you guys are not
familiar with sponsored videos on my
channel because I've never once had
someone sponsored my channel and that is
of who I will bring onto my channel I've
probably had dozens of people contact me
through my email and asked me to sponsor
a video and I have said no to every
single one
Ernie being the first one I've said yes
to and the reason is this I'm not gonna
put something in front of you guys if I
haven't tested it out and used it myself
and if I don't truly believe in what
they are doing and I totally believe in
what Ernie is doing I love what this app
does for people and I've used it myself
and I've had success with it but anyway
so Ernie is an app that gets refunds on
purchases automatically when prices drop
so what they do is they track your
purchases automatically through your
email so any time you have receipts sent
to your email they start tracking those
purchases they also tracked your amazon
purchases if you're someone like me who
is always shopping on Amazon they track
all of your purchases on Amazon and they
watch for price drops they're checking
this every single day and they also do
this for your credit card right now they
are working with most credit cards but
they said they're going to be adding
more in the future so if your credit
card is not listed it should be in the
future because they've reached out to
all the major credit card companies so
one of the perks of a credit card is
that many credit card companies offer
price protection so when you make a
purchase and if the price drops on that
item they will refund you the difference
the problem with that is who has the
time to go out there and watch prices
and check prices and
let's say you do find a lower price on
an item who has the time to reach out to
their credit card company and provide
all the documentation and say hey the
price dropped on this item
I would like my refund so it's kind of a
perk they offer that no one takes
advantage of because it's incredibly
time-consuming well this is where Ernie
comes in so Ernie finds price drops and
then they request refunds on your behalf
you don't have to do anything now in
exchange for this Ernie gets 25% of the
refunds that they find for you I know
some of you may say well 25 percent is a
lot of money but this is money you would
never be able to find yourself unless
you spent hours a day going through all
of your purchases and watching them
every single day and looking for price
drops so this is money that you would
never be able to find on your own and
Ernie is able to do this all for you on
your behalf and as a result that's
completely passive free money that you
would never be able to get on your own
unless you spent hours a day doing this
yourself you shop prices drop it happens
all the time did you know many retailers
and credit cards provide price
protection and will refund you the
difference when the price drops but who
has time to look for cheaper prices
Ernie does that's who after you purchase
an item
Ernie constantly searches for better
prices when he finds one he
automatically gets you your money back
then rest easy when you shop Ernie's got
your back register for free at Ernie Co
so here's just a few statistics about
Ernie the average refund per item is
seven dollars so we're not talking about
just pennies here we're not talking
about a thirty cent refund the average
refund is seven dollars that's quite
significant that's quite the price drop
so those of you who shop on Amazon like
me I'm always shopping on Amazon this
really blew my mind
on average Amazon changes their prices
eight times a day if you guys don't
believe me if you're looking to make an
Amazon purchase check the price in the
morning and check out a couple times
during the day and see if that price is
the same because Amazon is constantly
changing prices so it's very difficult
to get the best price on your Amazon
purchase and you wouldn't want to be
spending too much money on that so that
is where Ernie steps in they're able to
track the price of that product and if
the price drops they will get you that
refund now this isn't just a couple of
dollars here as we said many people are
getting a lot of money back
Ernie in fact many users are actually
getting thousands of dollars back each
year so here's what I would do if you do
like this app if you do like the idea of
this app and getting refunds and taking
advantage of that price protection that
your credit card company offers you I
would take the money you're getting from
Ernie and I would invest all that money
because it's what I call found money
it's money you didn't expect to be
getting back and that would be a great
way for you guys to fund your trading
account and start getting money that you
can invest yourself so that's what I
would do with the money from Ernie I
wouldn't necessarily take it and go out
there and buy clothes or buy gifts but
or maybe you want to use it as like your
Christmas fund or something like that
but I recommend taking that money and
investing it because that's what I
recommend you guys do and a lot of
people are looking to find money to
invest in this is a great way to do it
okay so the number two way to save money
is another app and this app is called
acorns and I've probably had a couple
dozen people in the comments section
below ask me what is my opinion on the
app acorns for those of you who are not
familiar with it acorns rounds up
purchases to the nearest dollar and
invests the money on your behalf
now the money is invested in an ETF or
exchange-traded fund and when you
download the app there's like a risk
tolerance survey where they determine
what your risk tolerance is and they put
you in a specific ETF based on how much
risk you are comfortable with and as a
result not only are they saving you
money they're also investing it so you
get some kind of return for now the one
thing I don't like about acorns is the
fact that most of us can afford to
invest more I recommend most people if
you're really serious about investing I
recommend you know taking 10% of all the
money that you take home from your
take-home pay from your job take 10% of
that money and allocate it into a
trading account or whatever you're doing
to invest I think many of us can invest
more than just rounding up our purchases
so if you buy a coffee for a dollar 30
it rounds up that 70 cents it invests it
for you I don't think that's enough I
think many of us can afford to invest
more but if you're looking to get your
feet wet with investing and just get
started I think eight corns is a great
way to do it so this is what I see as
the modern day change jar when people
used to pay in cash you'd go home with
pockets full of change every day and
you'd throw your change in a jar and
after a couple of months or a year you
would cash it in you'd roll your coins
and you'd have a couple hundred bucks
now that people pay with credit cards we
can't do that anymore and that is where
acorns comes in because they round up
your purchases for you and they save
that pocket change so what does acorns
get in return they do charge a fee the
fees are very reasonable if you ask me
they charge a $1 month fee if you have
under $5,000 in your account and if you
have over $5,000 they charge a 0.25% fee
on your account balance each year which
is pretty reasonable but like I said I
think most of us can afford to invest a
little bit more but if you're looking to
just get started I think acorns is a
great app to consider in the third and
final one I'm going to mention here is
an app called capital but its capital
spelled with a Q this is basically if
this then that logic that meets your
bank account so if one thing happens
they're going to trigger something else
to happen so this helps you to budget
your money the whole idea behind this
app is that some people out there are
diligent and determined enough to budget
their money and save the extra money if
you have a difficult time budgeting your
money then this might be a great app for
you so what they do is they partner with
Wells Fargo so this is an fdic-insured
account they've partnered with Wells
Fargo and there is a savings account
linked to your checking account so this
is going to make a little bit more sense
when I tell you exactly what capital
does but I just want to explain to you
how Capital makes their money what they
do is they partner with Wells Fargo and
obviously in that savings account you
earn some small amount of interest the
thing is with capital you earn zero
interest so traditional savings accounts
usually yield about a point zero five
rate of return well a capital savings
account earns you absolutely nothing
because they're keeping that small
amount of interest that Wells Fargo pays
them so you do not earn any interest so
if you are someone who wants to use
capital what I want to recommend to you
guys is you take that money out of there
as soon as possible and put it in at
least an account that's earning you
interest but even better would be to
invest that money into you know an ETF
or you know a trading account so here's
how it works so there's a number of
things you can do with capital because
it's all if this then that logic so you
can round up every purchase but you can
also round up to the nearest two three
four or five dollars so let's say you
bought a cup of coffee for a dollar
thirty it would round that coffee up to
a five dollar purchase and put the
change into this separate savings
account through
Fargo another thing they can do for you
is they can help you budget for
purchases so maybe you're gonna say I'm
gonna spend $25 this week at Subway and
if you only spend $23 you're gonna put
the other two dollars into that savings
account if you make a guilty pleasure
purchase so maybe you're someone who is
very health conscious and you say I want
to give myself a penalty every time I go
to McDonald's they may charge you 10
bucks and put it in your savings account
every time a purchase goes through for
McDonald's or whatever it is whatever
your guilty pleasure is so if you want
to force yourself to save money every
time you make a guilty pleasure purchase
that's a great way to do this another
thing you can do is a fixed savings
schedule so if you just want to take out
$50 a week or $200 a month they can do
that and then there's another one called
the 52 week rule so the first week they
save a dollar then the second week they
save two dollars all the way up to fifty
two dollars the fifty second week so
it's another awesome way to save money
another cool integration they call this
the freelancer so if you're someone who
makes freelance income what they do is
every time you are paid for freelance
work they're going to take some money
out of your account and set it aside for
taxes at the end of the year that's a
really cool idea and then there are also
countless other ones you can do because
this is all if this then that
integration so one example of this they
used is if you're somebody who is
spending too much time on YouTube and
obviously me being on YouTube this is a
funny example but they could make it so
every time you like a video on YouTube
it's going to move one dollar from your
checking account into your savings
account through capital which this is
just blows my mind if they're able to do
this but this is a really interesting
way to budget your money and save more
money for yourself so like I said what I
would recommend doing if you do use
capital I would take the money out as
soon as possible since you're not
earning any interest and I would
allocate that into some kind of
investing accountant to invest that
money but guys this is three ways that
you can start investing and you can
start finding money to invest very
easily in a very passive way so I just
wanted to do this video because I have a
lot of people asking me how to invest
how do you find money to invest in the
stock market here's three ways right
here anyways guys if you enjoyed this
video please drop a like if you are new
to my channel please consider
subscribing to be notified of any future
uploads and
always I thank you for taking the time
to watch this video
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