How I Saved $50,000 By 25 While Making $15 An Hour | Making It Work

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  • เผยแพร่เมื่อ 10 ม.ค. 2019
  • Still trying to figure out how to save money? In the inaugural episode of "Making It Work," one woman shares exactly how she saved $50,000 by age 25 - all while never making more than $15 an hour. Learn even more money saving tips here: thclips.com/video/eh0q_KLta0Y/วีดีโอ.html.
    "Making It Work" is brought to you by Wealthsimple. Start investing in your future at wealthsimple.com/TFD - our followers get $10,000 managed for free for one year when you sign up for your first account. (Applicable to residents of US, Canada + UK). *Please note that the offer mentioned on this video of a $50 cash bonus is no longer applicable.

    Through weekly video essays, "Making It Work" showcases how *real* people have upgraded their personal or financial lives in some meaningful way. Making your life work for you doesn't mean getting rich just for the sake of it. It means making the most of what you have to build a life you love, both in your present and in your future. And while managing money is a crucial life skill for everyone, there's no one "right way" to go about it - you have to figure out what works best for *you,* full stop.
    Video by Grace Lee
    thclips.com/user/WhatsSoGreatAboutThat
    whatssograce
    Narrated by Miriam Olson
    Based on an essay by Shannon Miller
    thclips.com/user/TheSugarShannon
    shannon_mmiller?hl=en
    Read the original essay here:
    thefinancialdiet.com/saved-50000-25-making-15-hour/
    The Financial Diet site:
    www.thefinancialdiet.com
    Facebook: thefinancialdiet
    Twitter: TFDiet
    Tumblr: thefinancialdiet.tumblr.com/
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ความคิดเห็น • 798

  • The Financial Diet
    The Financial Diet  5 หลายเดือนก่อน +1

    This 3-Minute Guide will show you how to save an extra $100: thclips.com/video/SM9e20g8omI/วีดีโอ.html.

  • Miryam Chaabouni
    Miryam Chaabouni 2 หลายเดือนก่อน

    Everyone is pissed because the title is misleading. It should be “Make your children start saving for a down paiement as early as possible, and they will star in a THclips Video by 25”.

  • bbygrlpt2
    bbygrlpt2 4 หลายเดือนก่อน

    Im also makin $15 an hr but I live in NYC so its the min wage. Id still wouldnt be able to afford my own place but I live with my mom and I manage to save half my paycheck every month. I dont buy things I dont need, and I mostly spend on food. Its the only way to manage to save a significant amount here🤷🏻‍♀️

  • KrazyVideoChick
    KrazyVideoChick 5 หลายเดือนก่อน

    So much I have to say.... but the stans will shit their pants. WELP... get your Depends ready!

    Good for her. But it came off slightly condescending. Not everyone can live with their parents. What if the relationship is estranged? Hhhhmm.. Do they need that? That food? Yes, they really need that. LOL. They don't qualify for food assistance because, silly them, they decided not to have kids. Public transportation? In their town? Their city has a taxi service.... you can call the day before to reserve your pick up time, but its still $10 ONE way. Multiply that by 5 days a week, 4 weeks out the month. And the taxi MAY show up on time. A couple write-ups a work could cost them their job, but it's OK!!

    I understand the point she was trying to make, but those of you stanning, need to see why others have their disagreements with this video. This is a lady that said herself she went to a "preppy Waspy high school", so even if that was a public school, that means she lived in a great district. She was kind of destined to be upper-middle-class anyway. Even if she feels she was "broke" coming up as a lad. Just remember, middle-class people usually create their own financial troubles, lower(I hate that term)-class people are usually born in it. I kind of tapped out right when I saw #1 to be honest. Of course, it's easy to put in the work when your parents paid for damn near everything... LOL.

    But if you disagree... cool beans and candy yams. Feel free to argue with yourself as a form of therapy.

    To those of you who agree. Keep your head up and just start with that one dollar. If that's all you can do per week. DO IT. Do it every week until you can add more and more. I know how disheartening it can be watching these youtube "finance gurus". They all seem to have the same type of background. I can't vouch for them, but I do know that if you didn't want better for yourself, you wouldn't be watching these types of videos. You can do this!

  • TheTruth 7
    TheTruth 7 5 หลายเดือนก่อน

    Thanks . You have motivate me

  • Sarah New
    Sarah New 7 หลายเดือนก่อน

    *living with my parents*

  • Michael Scholz
    Michael Scholz 7 หลายเดือนก่อน

    Which software do you use to make the animated slideshow with?

  • Weldingandfab
    Weldingandfab 7 หลายเดือนก่อน

    So basically live broke xD I already do that but sometimes unexpected emergencies happen that drain my savings Dx like putting a new transmission in your truck @____@

  • Npc 2000
    Npc 2000 8 หลายเดือนก่อน

    Don't live at home. Move outta momma's house!

  • Library Minnie
    Library Minnie 8 หลายเดือนก่อน

    She has good ideas and a great attitude!!!

  • Sheyenne
    Sheyenne 8 หลายเดือนก่อน

    “While making almost nothing” sis $15/hour is not nothing

    • Sihyun Park
      Sihyun Park 8 หลายเดือนก่อน

      Sheyenne in some places it’s minimum wage

  • Phylicia Fair
    Phylicia Fair 8 หลายเดือนก่อน +4

    "Treat your savings like a bill." Man, a lightbulb went off when you said that! I've been struggling to put money into my savings account, and struggling even harder to keep it there. But I think if I treat it like a bill I can't skip or adjust, I think that will help me a lot. Thank you!

  • Living for Minhyun
    Living for Minhyun 8 หลายเดือนก่อน

    I am sorry if this sound dumb but how do you get a job for babysitting?? I am new to U.S.

  • Erroll Gibson
    Erroll Gibson 8 หลายเดือนก่อน

    2:48 - You said you aren't a loser if you live at home as an adult. I strongly disagree. You aren't paying rent or a mortgage, and so not actually maintaining the most basic of adult responsibility. So you saved lots of money. But I bet you didn't do the chores, or have your friends and lovers over at your parents place. I know how I'd rather have lived in my early 20's.

  • cocoreo89
    cocoreo89 8 หลายเดือนก่อน

    I would save that much too if I still lived at home. But all my money goes on rent and bills.

  • Spoidd Michael
    Spoidd Michael 8 หลายเดือนก่อน

    DAVE RAMSEY
    I live with my parents too (cultural difference) and I can't save a dime. We share the income 👍

  • Sarza
    Sarza 8 หลายเดือนก่อน

    Girl bye did she even pay taxes on babysitting? That’s prob how she saved so much

  • Emma Q
    Emma Q 8 หลายเดือนก่อน

    Well of course if you live at home with no bills its much more feasible to save up this kind of money. Cool for her, but it would have been more interesting to share a story from someone who actually had challenges to face and saved money on top of paying their own bills. If you can live with your parents and get along as an adult and not feel awkward, that's great but that's not usually the norm. I'm 23 and everyone I know that has moved out of their parents house is a lot happier than they were, and most of the people I know that still live at home don't have a very healthy dynamic with their parents.

  • Kylie Walker
    Kylie Walker 8 หลายเดือนก่อน

    lol we love capitalism

  • Alice Depaul
    Alice Depaul 9 หลายเดือนก่อน

    A lot of Dave Ramsey students here making videos

  • Holly B
    Holly B 9 หลายเดือนก่อน

    AND you didn’t have a baby when you couldn’t afford one. Smart.

  • Brooks Dianna Lee
    Brooks Dianna Lee 9 หลายเดือนก่อน

    What are the qualifications in joining wealth simple?

  • fjoolololol
    fjoolololol 9 หลายเดือนก่อน

    I am concerned that she worked so many hours and was only able to save that much, even with living at home. No fault on her necessarily but more that her pay was so low.

  • StoneOfMoon
    StoneOfMoon 9 หลายเดือนก่อน

    I’ve been doing some of the ways the girl said to do: waited a week to decide if I still want it, put money aside whenever possible, home cooking more often, and every week $25 comes to my bank savings account while $20 goes to investing.
    I live in San Francisco, so getting paid nearly $19/hr may sound a lot, but rent prices are so ridiculous.

  • Azzurra Cisternino
    Azzurra Cisternino 9 หลายเดือนก่อน

    Great work! I saved $50,000 in 12 months and have also shared my story on THclips! It's so lovely to see so many young people doing the same :)

  • Kai Weaver
    Kai Weaver 9 หลายเดือนก่อน +1

    holy shit i only made $11 an hour I would /kill/ to get $15

  • ann jean
    ann jean 9 หลายเดือนก่อน

    Great video! Thank you for sharing.

  • קריסטינה קניג
    קריסטינה קניג 9 หลายเดือนก่อน

    15$ an hour is a dream for me, I hardly can make 8$

  • Jorge Noel
    Jorge Noel 10 หลายเดือนก่อน

    2500 dolars a month is a lot. If you don't get rich making that amount, it's on you!

  • Nickybobbie
    Nickybobbie 10 หลายเดือนก่อน

    This is quality advice regardless of the fact that her job paid her twice the amount a lot of people make who watched this video. Maybe the title "Almost nothing" in the thumbnail is a tad insensitive to people who truly make little and have had emergencies that haven't allowed them to save 300 dollars a month.

  • Hung Huei Tiong
    Hung Huei Tiong 10 หลายเดือนก่อน

    humble and efficient way to acquire wealth without doing crime. At the end of the day, it is you who is responsible for your own financial status.

  • Panda Hungry
    Panda Hungry 10 หลายเดือนก่อน

    Live with mommy daddy, no bills, dont spend. Simple as that. Adults have bills so this advice sucks

  • Variations on a Seam
    Variations on a Seam 10 หลายเดือนก่อน

    I'm happy for my kids to live at home as long as they want or need to. Families not living together is a relatively new concept. A family home is IMO one of the best ways to build and preserve wealth for those of us not born with a silver spoon in our mouths. It's unfortunate that there is such a stigma attached to it in the US.

  • Kei S
    Kei S 10 หลายเดือนก่อน

    This is one of the most honest, no-hype content on growing your savings. Truth to be told, I was not caught by the 50 K sgd. I was more drawn by the fact that her process was simple, classic and boring. In the finance world, I learned that slow is smooth, steady and strong. I also learned that the more systematic and boring it is, the more effective it can be. Thank you TFD!

  • Aim-for-greatn3z
    Aim-for-greatn3z 10 หลายเดือนก่อน

    Wooow this is perfect!!! I'm in the EXACT situation!
    My biggest mistake is college because of the debt, thus I've been able to learn how to wholesale real estate paid my college debt with the profits. Then I learned how to day trade cause I took action to find a mentor, started a Robin hood account last September and been growing a small account thus I'm up nearly 20% thanks to several strategies. Now I have a tough for a downpayment to start my investing portfolio which I'll be buying my first property by july.
    My biggest expense is food!!! I love it and I've limited myself to spending 10-15 daily on anything I want.
    Living with your parents is a BLESSING!!! My checks are less than 650 per week and I can pay rent and phone bill thus allowing to save nearly 70-85% of my checks. Sucks I'm 31 though 😔😔 I wished I started sooner

  • Meg Hoff
    Meg Hoff 10 หลายเดือนก่อน

    I was hopeful till she said she lived at home with her parents. Than it was well ya saving is sooooo much easier when living basically free. Can’t relate to this at all.

  • Safaa Lag
    Safaa Lag 10 หลายเดือนก่อน

    I think americans are HUGE "spenders" or money wasting people. My family would easily save a ton of money with out living life style if we earned more. We NEVER eat out, no junk food or anything. Our electricity and water bill is so low people dont believe it. And we live very much happily

  • Sam P'h
    Sam P'h 11 หลายเดือนก่อน

    Living at home is a great way to save money. I didn't but a friend of mine did after graduating from college and ended up buying his first house before he was 30. It had three bedrooms and he got two of our fraternity brothers to move in with him. This was back in the 80's so I'm guessing that they covered his mortgage.

  • Kar Law
    Kar Law 11 หลายเดือนก่อน

    You way will not work when after you step foot on real world (after you graduate from college or university). Right now you have no real responsibilities (older parents, kids, real demands from work, health, life in general), that's why you can do what you are doing now. You will reach a point when you cannot do two jobs because you are tired and have no time. You will reach a time when you really need to move out on your own. Your biggest help will be your parents and your partner (husband).

  • GreaseMonkey HD
    GreaseMonkey HD 11 หลายเดือนก่อน

    I get 34/hr. That's not enough for me. No number will ever be enough for anyone.

  • salome rodriguez
    salome rodriguez 11 หลายเดือนก่อน

    I happen to have the opposite attitude towards cards and cash. I rather pay with card because knowing I don't “see“ the money I try to keep a better eye on what I spend. When gettin cash out of the atm it feels like money that's already spent and so I'm less careful with how I use it.

  • Anna Čeňková
    Anna Čeňková 11 หลายเดือนก่อน +3

    I chose different path. Instead of making more money, I decided to choose work that is beneficial for my CV and for my field of study. So now, I will finish law school with 4 years experience in the legal field. I may have less savings than my frined who does hostesing, but I have a serious advantage in my experience.

  • Samantha Hoffman
    Samantha Hoffman 11 หลายเดือนก่อน

    Awesome video! Simple advice but that’s the easiest to implement. :)

  • Binar Lestari
    Binar Lestari 11 หลายเดือนก่อน

    living with parents is big privilege, period

  • Brendon
    Brendon 11 หลายเดือนก่อน

    I knew she'd Asian.

  • N Lemus
    N Lemus 11 หลายเดือนก่อน

    Here is a plan that can work for anyone.
    1. Learn to use a spreadsheet
    2. Record your average monthly income and average yearly income
    3. Create a list of your finances: fixed costs (e.g., rent, utilities) and (average) irregular expenses (e.g., health and education)
    4. List your maximum variable expenses (e.g., groceries and public transportation)
    5. Create a goal: Subtract your fixed, irregular, and variable monthly expenses from your average monthly income, and deposit a percentage of your discretionary income into a savings account. (As an example, I deposit a minimum of 40% of my income to a savings account)
    6. Create a budget for discretionary expenses (e.g., apparel and outside dining).
    7. Make adjustments
    8. Make lifestyle changes: develop an economical lifestyle that is maintainable
    9. Learn discipline
    A spreadsheet of your expenses allows you to create a realistic and attainable savings plan. Do not mind the amount that others have managed to save, as average wages and expenses differ according to region.

  • meow meow
    meow meow 11 หลายเดือนก่อน

    number 1. live at your parent's house rent free!! .....yea no.

  • OCΞAN PLΔNET
    OCΞAN PLΔNET 11 หลายเดือนก่อน

    I HATE HATE HATE the suggestion of living at home with your parents! Not all of us have generous families that can afford to let you stay at home. My parents threatened to charge me an unreasonable amount of rent ($300-$500) for the bedroom I was in as a minor without my own kitchen or bathroom. If you can't stay at home, do yourself a favor and invest in something like the stock market if your parents were useless like mine in preparing you for life. Also, if you're still under 17 and allowed to live rent free or as expense free as possible, SAVE your cash! Nobody cares about what you bought to look popular or cool. You might not believe me now, but there's a bunch of bullshit in my house left over from high school that I wish I never bought. You'd be surprised at how much money you can waste on useless crap without trying (even if you aren't a big fan of shopping)

  • letominator
    letominator 11 หลายเดือนก่อน +2

    To everyone who says: "Can't we just appreciate what she's done?" No. We can't. She has done nothing except act like a responsible adult. Whoo hoo! Oh, a normal adult with significant advantages. I'm supposed to be impressed by someone with a silver spoon? I think not. Go out and make rent, support a family, pay your bills, buy a car, put food on the table and I'll consider you pretty solid at $15/hour. Do all that and save $50K on the same salary, and you've got something impressive going on. Do that without any real stress or responsibility? I'm not impressed at all. In fact, I'm disgusted that you're bragging about it.

  • Danay Perez Perez
    Danay Perez Perez 11 หลายเดือนก่อน

    Omg ma'am loved your video. Gonna write it on a sheet of paper!

  • Icedtxa
    Icedtxa 11 หลายเดือนก่อน

    $15 is almost nothing???? I’m a student, get paid £8.30 ($10.70) for my part time job which really isn’t the worst, but McDonald’s still pays as low as £6.75 ($8.71) for under 21s🙄 minimum wage is as little as £4.20 for those under 18

  • Merrideth Hawk
    Merrideth Hawk 11 หลายเดือนก่อน

    The ol' "I live with my parents" Altho it's great it was an option for her, don't give financial & budget advice unless your the parent footing the bill for the adult "kid" along with mortgage, property tax, water bills (incl laundry), utilities, car, extra food etc. Interview her parents😉

  • James
    James 11 หลายเดือนก่อน

    Please get a good ira lol

  • Dr. Idris Avci
    Dr. Idris Avci 11 หลายเดือนก่อน

    Try to save as much when you are married and have a child

  • Phlegethon
    Phlegethon 11 หลายเดือนก่อน +1

    So you didn’t pay rent. How much does food and utilities cost a month like $300 tops?

  • Noah
    Noah 11 หลายเดือนก่อน

    She was making $35k a year and lived at home. There is no point in watching the rest of the video after she said that lol. If the goal is to save up $50k over multiple years, and your given is that you make $35k a year and have your major expenses covered for you, the only variable is if you even tried.

  • Idriega
    Idriega 11 หลายเดือนก่อน +1

    *Loving the content and edit* 🔥🔥 great tips!!

  • Ammar Abdalla
    Ammar Abdalla 11 หลายเดือนก่อน

    I’m not sure if you read but the title clearly says how *I* saved 50k so she is talking about her situation

  • Bcaused
    Bcaused 11 หลายเดือนก่อน

    I really love the animation of the video, it’s well done!

  • Leslie Perez
    Leslie Perez 11 หลายเดือนก่อน

    I am 21 an I saved 30.000€, but all that money is gone because my parents are terrible at managing their money, so I lent them all the money to pay their debts with the bank...
    I am so fucked up right now as I am studying at University and I was planning to take a Master's Degree in one of the most prestigious Universities in my country.
    I can't find a job now because I am so busy, and all I can rely on are the investments in stock market I have made so far.