HOW TO SAVE MONEY: $12,000 In One Year! you#Best Education Page #Online Earning

how's it going today guys so today we're

gonna be talking about how I was able to

save $12,000 in 12 months and I'm gonna

give you guys some advice on how to save

money now the actual method of doing

this is very simple and if I was just

going to tell you that this would be

about a 30-second video all you have to

do is automate contributions to a

separate savings account about 250 a

week or $1,000 a month and bada-bing

bada-boom there you go you're saving

twelve thousand dollars a year now I'm

guessing that that is not what you guys

are looking for the actual way of doing

this the method of doing this is very

simple automating your savings and you

know hoping you have enough money at the

end of the week or the end of the month

to pay your bills so I'm going to show

you guys how this becomes a sustainable

strategy going forward now I just want

to say this guys when you're looking at

saving money whether it's for a house or

a car or saving money to invest you want

to make sure this is a sustainable

strategy because if you can't do it for

very long and you find that by the end

of the week you're eating canned beans

and your lights are going off because

you're not paying the electrical bill

then obviously that's not working very

well for you so you want to make sure

that you're saving an amount that is

enough for your goal and it's also

enough for you to have a comfortable

life where you're not living just for

tomorrow you don't want to be fully in

deferred living mode where you're saving

so much today and you're miserable today

because you're saving for tomorrow so

make sure you guys find the fine line

there and don't be making yourself

miserable just because you're trying to

save money now I really didn't follow

that advice myself because when I was

saving over a thousand dollars a month

that was like one third of my take-home

pay from my job so my expenses were low

but I by no means had any kind of lavish

lifestyle and the reason I was saving so

much money was because I absolutely

hated my job I hated what I was doing

and I said look at some point I don't

want to be doing this anymore and I'm

going to need a nest egg built up I'm

not gonna go out there and find a new

job or start a business so for me the

goal of saving money was always for a

better future tomorrow once I decide

what it is I want to do with my life I

would have the money to be able to

sustain myself while I built up my

business so whatever your goal is one of

the things you

to make sure you do is you have to set

that goal because if you're just saving

for the sake of saving and you have no

real goal then my guess is as soon as

you see something you want to buy then

you're gonna say you know what I'm gonna

blow my savings on this I might as well

because you know I want that instant

gratification today so make sure you

have a goal for what it is you are

saving that's actually number four on my

list but I just wanted to share that at

the beginning here because that is the

most important step is to have a goal

for what it is you are looking to save

for if it's for a car a car that you

want to buy I mean I wouldn't recommend

just buying a car because you want a

nice car I mean if you're looking for a

reliable method of transportation or

you're looking to buy your first house

then that is a reasonable goal that is

something you should buy and maybe put a

photo of that on your fridge or on your

bathroom door somewhere you're gonna see

it all the time just to remind yourself

why it is that you are saving and not

spending but the way that I saved $1,000

a month was I actually invested that

money so I had the option while I was

employed I worked at a big utility near

where I live and they allowed me to buy

company stock I was able to buy it at a

slight discount and automatically take

those contributions out of my paycheck

so I filled out the paperwork I could

max out at twenty percent of my pre-tax

income and that ended up being about

$1,100 a month going into company stock

now this was before I learned a lot

about investing and I did not realize

that I was obviously not diversified if

I was dumping so much money into one

stock so after I did have about fifteen

thousand dollars saved up in company

stock that is when I sold some off and

diversified in some different stocks

that way I wasn't you know having all of

my money in one place or having all of

my eggs in one basket but that is pretty

much the way I did it I automated it and

I had about eleven hundred dollars a

month going into company stock before I

even had the opportunity to touch my

money now how did I make sure that I had

enough money to live and sustain myself

this is what I was doing number one I

would recommend driving an older car so

if you're driving a brand new car and

you have a 5 or $600 a month car payment

then you're obviously not going to be

able to save a lot of money now this

might come back to bite you because when

you're driving an old car you're going

to have to maintain it and I found that

every three to six months I had to put

about a thousand dollars of work into my

so I mean you really want to make sure

you're driving something reliable if it

becomes a money pit then yeah I wouldn't

recommend driving a really old car I

mean the car I was driving was a 1999 so

this was a very old car but it was

relatively reliable I was putting a lot

of miles on it and I would rather put

about a thousand dollars of work into it

once in a while a couple times a year

then pay like five or six hundred

dollars a month for a car payment it was

still cheaper than driving a newer car

number two like I said guys automate

your contributions don't leave it up to

yourself to make those contributions

yourself set up a separate savings

account and automatically have that

money moved in there every single week

or there's apps that will allow you to

do this there's all kinds of ways you

can do that guys but do not rely on

yourself to do that because if you get a

chance to spend that money before you

put it somewhere else then you're

probably going to spend it so automate

it set it and forget it and let that

savings build over time every single

week number three the third thing that I

did that helped me save money was

preparing meals at home it's very

expensive to be eating out I know a lot

of people don't want to cook at home a

lot of young people have no idea how to

cook and you can make some very basic

and affordable meals at home don't be

buying breakfast sandwiches and coffee

and Subway sandwiches it's just a huge

waste of money guys I've done other

videos about that talking about how I've

saved a ton of money by cooking meals at

home but it's a no-brainer guys don't be

paying the convenience of having

prepared food it's very very expensive

and it's a luxury you can't afford if

you're trying to save a massive amount

of money

number four like I said guys you got to

set goals for your savings you're not

just gonna save for the sake of saving

you're gonna have a firm goal of what it

is you are actually saving for like I

said for me it was like my freedom fund

I was trying to save up enough money to

sustain myself for a couple of months

while I went off and started my own

business or at that time like I said I

didn't really know exactly what I wanted

to do I just knew I wasn't happy and

even if I wanted to go quit this job and

find a new one it would take me a couple

months to really get that all figured

out so I needed some money saved up in

order to sustain myself and pay for my

bills number five you want to track your

progress so if you are automating your

contributions start a spreadsheet and

write down every week how much money is

going in

to that account and set your goal and

that way you can determine how long it

will be until you reach that goal and

any extra money you have on top of your

automated contributions start adding

that in there as well just to get to

that goal faster now number six is a

tough one especially for young people

but you have to look at alcohol and

dining as a social experience only

you're not going to be going out to TGI

Fridays on a Tuesday night because you

don't feel like cleaning your kitchen

you're going to be going out socially

you're going to be drinking socially

with friends and you're going to be

again preparing your food at home

preparing your meals at home whenever

possible number seven is to avoid

materialistic people you're not going to

want to surround yourself with people

that are blowing through money driving

expensive cars wearing expensive

clothing because you're going to start

to do the same thing that they are doing

if you're all hanging out together and

you're all going to the mall and they're

buying things then you are also going to

start buying things so you do not want

to hang around with people that are

doing the exact opposite of what it is

that you are trying to do number eight

and I'm not saying you guys have to do

this but if you are serious about saving

money you're gonna want to stay single

relationships can be very expensive

whether it's buying gifts for you know

big milestones or holidays whether its

buying meals things like that now when I

was doing this I was single but it was

because my mind was so focused on my own

happiness and trying to figure out what

I wanted to do with my life that the

last thing that I needed was a

relationship to kind of you know cloud

my thoughts I was focusing on myself and

if you really are somebody like me and

you're trying to you know go start your

own business or change the situation

you're currently in then I wouldn't be

surprised if you were single as well

just for that reason being that you're

focusing on yourself but if you are

trying to save money at least find

somebody who's not going to be

materialistic and at all costs if you

have to then just stay single it's going

to save you money and then number nine

the final thing guys is to keep busy

keep your mind off things don't be going

on Facebook scrolling through your

newsfeed and saying oh that's a cool

looking bath bomb I should go buy that

you know you're going to want to keep

busy read books exercise do things like

that that are going to occupy your time

and you know those are things where

you're not going to be spending money I

know a lot of people shop when they're

bored they go to the mall

their lunch break and they just spend a

bunch of money and I used to do this as

well I used to go wander around the mall

and take a walk in the winter when I was

working and I realized I was spending

you know 50 60 bucks a week on random

things I didn't need just because I was

walking around the mall so don't be

doing things out of boredom that are

going to contribute to you spending more

money but anyways guys that is how I did

it that is how I saved you know over

twelve thousand dollars and twelve

months if you guys are looking to save

money like I said the number one thing

you need to automate it and number two

you got to set your goals that way you

know what you're saving for if you guys

have any other tips drop them in the

comment section below as far as saving

money the guys enjoyed this video please

drop a like if you're new to my channel

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notified of any future uploads and as

always I thank you for taking the time

to watch this video if you are

interested in learning more about

investing in the stock market I've

created a free course just for you the

link is in the description below here

are a few other videos you might enjoy

as well

you

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