How to Save Money – 7 Essential Tips for Building Wealth

How to Save Money  – 7 Essential Tips for Building Wealth


hey guys it’s Joseph and Tasha from one
big happy life in this video we have 7 tips on how to save money we used these
tips to save a hundred thousand dollars last year in our last video we started
our intro to investing series and we mentioned that we saved a hundred
thousand dollars in over the past year and so many of you wanted to know
exactly how we did it so we are sharing it in this video be sure to thumbs up
subscribe and share these tips with your friends to help them build wealth too
tip number one make more money so this is increasing your income either at your
current job or if need be finding another job so we’re not saying just
work more hours work longer or something like that we’re really trying to get you
to focus on taking on either more complex work say getting a pay raise to
do additional tasks at your current job or looking for that same position at
another job or even getting a promotion somewhere else any of those things make
it a lot easier to save money because you’ll be making more and we all know
it’s easier to save when you have more to go around alternatively you could
start a side hustle so something like starting a blog or starting a YouTube
channel or walking dogs or babysitting something that you’re passionate about
that you would love to do in your free time
do that thing and by the way if you are interested in starting a YouTube channel
later on this week on the blog I’m gonna be posting a post about how to find your
perfect a YouTube channel idea and a list of 155 YouTube channel ideas that
Joseph and I came out with so be sure to check our blog one big happy life for
that later on this week tip number two pay yourself first and make it automatic
savings like anything else that we do is a habit and it’s something that we need
to work at and practice that to make sure that we continually do it making it
automatic makes it something that you don’t have to think about because money
is already set aside it never even touches your bank account and so you
don’t have to worry about willpower to make
a habit and the reason why you want to pay yourself first is twofold number one
again you want to build that habit and number two it’s because mathematically
most of the time you are better off saving early and often then you are
delaying savings in order to pay off debt and we’ve done videos about this
before and I think we have another another one coming in a couple of weeks
so stay tuned for that for more info tip number three plan for financial upheaval
savings is frequently one of the things that’s going to get cut first if you’re
under some financial difficulties and that’s not great so you can minimize
having to do that by preparing an advance you might not be able to predict
exactly what’s gonna go wrong but you can make it easier to deal with whatever
does come up so one way that we do that is because we’re we are a dual income
couple we’ve structured our finances so that we could live on just one income if
we had to also make sure you have all the insurance that you need to cover
yourself so that means disability insurance that
means health insurance maybe you need an umbrella policy for just bigger
emergencies make sure you’re covered there and then you won’t have to save as
much to to cover that because you know oh hey I can I can make a claim on my
insurance it’ll-it’ll back me up so plan for your one-off expenses so you
know that you’re gonna need new tires like every sixty thousand miles which
could be every three or four years so that’s not something that you should be
dipping into your emergency fund for that is not an emergency it’s actually a
known expense that you should be planning for so planning for and
anticipating those once-in-a-while expenses is another way to that you can
protect your savings from yourself and of course you mentioned emergency find
definitely have an emergency fund but you can build it up over time especially
if you’re taking care of these other things tip number four budget for a year
or more at once so we shared our 2018 budget with you guys back in December
and I will drop a link to that in the description box below and in the
cards up above so you can check that out so we plan our entire year out at once
we anticipate what kinds of expenses we’re going to have and we put those in
our budget not only that but we also budget for several years out so right
now we’re fully budgeted out until the year after alexis finishes college which
is six years from now because we know that we’re gonna have these massive
expenses when alexis starts college we want to start planning for them now and
again that makes it more likely that when we get to those very expensive
college years that we’ve already planned for these expenses and so we will be
able to keep our savings on track tip number five resist lifestyle inflation
this is when you get a pay raise or start making more money and then you
increase your expenses try to avoid that if we compare our budget now to when we
were making half as much it’s about the same even with the more expensive house
it’s still very very close and the reason is we’ve cut costs in other areas
as our income has increased and we’ve just saved the difference now we will
add things back in a little bit a little bit by a little bit as our financial
situation improves but only things that we value and also they’re going to be
things that we will never or try to avoid at all cost adding back like
expensive cellphone plans or cable those are things that were just too expensive
and we don’t want them anymore and so we would never say don’t like that you
should cut your cost to the bone and that’s the way that and that’s how you
should build up your savings no we much much prefer for people to do what it
takes to make more money while still enjoying their lives because the more
you make you can it makes it easier to hit your savings goals while still
having the kind of lifestyle that you want to have and speaking of lifestyle
tip number six find your happy and practice gratitude
it is so much easier to save if you have created a life that you love and you are
living in accordance with what truly makes you happy
so that means taking the time to think about the things that you love in your
life and appreciating those things so practicing daily gratitude and the
things that you don’t love about your life taking the time to change them
doing the work that it takes to make those things in your life better
instead of doing what most of us kind of tend to do when things feel crappy we
say oh well we deserve a treat we’re gonna go out and spend this thing well
it’s so easy for us to save money now because we’re happy about the lifestyle
that we live and anything that we want to include we know that we’re working
towards increasing our income so we can include those things but we also are
happy knowing that we are planning for a financial future that we are both
incredibly excited about the the ability to retire early if we want to and travel
in retirement and be generous with our family with our friends to be able to
donate and donate our time those things really excite us about our future so it
makes it a lot easier to stay on the savings path that we are on right now
tip number seven understand that this is not going to happen overnight now I know
that’s some tough love and it’s it’s just the truth it’s gonna be a process
but it’s an important process and things will still be improving so stay the
course and don’t beat yourself up about it if it’s taking a while yeah
especially because we see all these things all the time in the news about
people paying down X amount of debt super fast don’t worry about that just
worry about creating a life that you are enjoying on a day-to-day basis while
also planning for your financial future because remember life is what happens in
the space between our goals so don’t lose sight of the life that you are
living today because you’re in a rush to get somewhere because someone told you
you have to get there quickly you don’t take your time enjoy your life enjoy the
journey don’t feel the pressure to go uber frugal unless you really want to
you there’s only so much that you can cut from your budget anyway and you can
make more money if you want it to go faster but you just can’t expect it to
go that fast and that’s okay so these are the seven tips that really helped us
not only just the hundred thousand over the past year but the 265 thousand
dollars that we have saved total and we have lots of other videos with specifics
on exactly how we save plus we’re doing the investing 101 series so we’ll be
talking a lot more about some of our financial strategies in those videos so
be sure to a thumbs up and subscribe for more one big happy life and we will see
you guys next time Bye I don’t know did we go out to
I’m too much of a tangent oh yeah so what I wanted to say is you don’t have
to go super frugal because my point is that there’s only so much you can cut ok
ok stop ok

53 Comments

  1. Shana LeGrant says:

    Tosha that blouse….yes! I love it! BTW…thank you for the video on Credit Sesame. Both my husband and I signed up and we LOVE IT! It is so helpful. We are now using your spreadsheet to figure out our budget. We are addicted to this channel! Thank y’all so very much!

  2. Taylor Jennings says:

    I wish my boyfriend and I could do these but he lives paycheck to paycheck with little room for even food. I'm a full time college student (granted, without a job atm) and I'm looking forward to spring 2019 when I finally graduate and can start using your helpful tips. Thank you!

  3. Alison Rodriguez says:

    Yessss that blouse!!!! <3 <3 <3

  4. smwrigh3 says:

    Great advice!!! Some of these are my 2018 goals. I have been at my job for 5 years and I get so intimidated when I look at jobs online but after 3 promotions I don't see room for growth and I am ready for another experience. I am going to put myself out there this year! Sidenote: Tasha you are so beautiful. Your makeup looks really nice and your skin is everything!

  5. Michou Giraud says:

    Hello Tasha and Joseph it's Micheka I had to sign up with another email to get a 3 months free of Youtube RED πŸ˜‚πŸ˜‚πŸ˜‚that's why I have not been commenting lol but I subscribeb with this email as well.

  6. Centsible Living With Money Mom says:

    I have only listened to number one so far, but you both are right. I do not feel you can create wealth on a very tiny income. ( unless you have no expenses, and invest all your money) You both are so bright.

  7. Full Wealthy Life - Shari Kaye says:

    Great Tips! My Fav is #6. I have a deep passion for personal finance.You two are becoming my new Favs! Financial literacy is a topic many people don't care to master, but it controls just about every aspect of their life…Thank you for sharing.

  8. Lisa Foster says:

    Very good tips. Thanks

  9. Centsible Living With Money Mom says:

    I know you think Alexis will have many college expenses , but she may get a great scholarship.

  10. LifeGoesNorth says:

    Best life channel on YT. πŸ‘πŸ»πŸ’›

  11. Write And Prosper with Gee Nonterah says:

    First time catching your video. Love it. Planning/bugeting for the long term is something I am still learning. Thanks for sharing.

  12. Frau Farbenfroh says:

    Good morning from Germany. I love your videos all!!!!! Budgeting, meal prep, baking, cooking, diy….please more. God bless you and your family❀

  13. jay hulrs says:

    What are your incomes??

  14. Lisa Tiberi says:

    Another great video! I'd love see a video about tips to help really figure out what things are important to one's happy lifestyle and what is just excess.

  15. Vegan Adventure says:

    really fantastic guys!

  16. Ivy Larsen says:

    I love the last tip. We have been trying so hard to figure out how to pay off our credit card debt fast (so we can move onto our other debt school loans,car,house) and it is STRESSFUL. The guilt you feel when you don't feel like you're doing enough even though technically we can't do more because of finances is tough. We want to enjoy our life with our kids but we also want to be responsible with our money from now on, debt free and start saving/investing. It takes time, and sometimes you just need a reminder. Thank you! I love watching your videos, they have been an amazing resource for tips and reassurance!

  17. TruFinancials says:

    You hit #2 right on the head. You need to put money in savings before spending your paycheck on other things. Planning for known upcoming expenses is huge (sinking funds) can really make your budget work much smoother ever month.

    Are you guys savings in an ESA or 529 for your kids college?

  18. Journey2DebtFreedom says:

    You guys are such a lovely couple. Your channel has come a long way. I remember when it was just Tasha doing these videos. It made me smile watching this especially the last few seconds at the end

  19. Journey2DebtFreedom says:

    Me again….. I wanted to ask if you guys have a podcast? or would consider doing one

  20. Nick C says:

    Wait you saved 100k yet are in debt up to your ears? Hmm I must not understand the math.

  21. Ecatarina Grant says:

    Love the tips!! Make more money is the goal. However, my current position pays an ok amount per year but the real benefits are I telecommute 2 Days a week, have flexible work hours and AMAZING medical, vision and dental! It’s just so hard to find something else like this. I know I am worth more yearly but I have stayed because everything about my current small business I awesome. Any tips for this specific situation? (Also: rock that blouse Mama!! And Joseph: love your half zip!! Also, what do you both do??)

  22. LoveMyEllie says:

    You must have a very huge income

  23. HSmom of many says:

    But I want it to go fast! Ha! πŸ˜‰ Our goal this year is to have 3 months of savings plus at least 10% to put down on a home. We are ready to have our own place again now that hubby is graduating!

  24. Des Belveal says:

    Love your channel. I have 2 years left of school. I have a low paying job as an accounting assistant. Just got a raise and make $12 now. Not happy about it. I’ve worked here for 1 year. I want to be an accountant, so it may take 3 years. My question is.. should I go for a higher paying job now, and may mess up my Accounting experience. Or should I wait at this low paying job to get experience.

    I also have a 6 year old & live on my own. And received my associates degree last summer from community college.
    πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–πŸ’–

  25. Milly Torres says:

    Nice video. Thank you

  26. TheHello346 says:

    I have a request, I’m not sure if you have done a video on this yet but can you list out the types and number of accounts you guys have because I know you guys save for various things monthly such as possible car repairs or clothing, etc. I wanted to know if you guys put it all in one account or separate. Thank you so much for all the information you provide.

  27. msvocinstructor says:

    Beautiful couple and great tips! Glad I found your youtube channel!😊

  28. Mr Big Time says:

    πŸ‘πŸ‘πŸ‘ good solid advice. Nice looking couple

  29. SmithFamilyTravels says:

    You guys are so inspiring! Thanks for the financial tips.

  30. maeherme says:

    I love that you have started including these little outtakes at the end. It's adorable and gives us a fun insight into your personalities andΒ dynamic! You're always so put together, so it's nice to see this side of you too. πŸ™‚

  31. Prestige Iron OH says:

    I love your channel

  32. Clueless Mama D says:

    Ooh now this is a video my ears need to hear lolIm here from the FB Mom Group and I’m already sure I’m going to like this channel. Yes we need to learn to keep our budget down. Even though more money has come our way we don’t notice the breathing room because we are not organized with the spending. πŸ€¦πŸΎβ€β™€οΈ so helpful. Glad I decided to check you Guys out. Subbing of course. πŸ’œDrea

  33. Clueless Mama D says:

    Lol Uber frugal

  34. brownangel926 says:

    Whew! Lifestyle inflation really hit us when we both hit 6 figure salaries! That was a hard lesson learned for the both of us. Being content with what we have is what enabled us to see that we really didn't need anymore expensive material items. Really enjoy your videos.

  35. DistinguishedBeauty19 says:

    Your face is looking a lot more thinner. Good job mom!

  36. TWDxKILL3R says:

    I buy the used tires which are still in great shape for $35 a piece ….can’t beat it

  37. icawn says:

    I'm still trying to figure out how to get my wife on board with smarter spending, saving, and investing. She was already divorced with children when I met her and it feels impossible.

  38. Sherry Gustafson says:

    First of all you are such a adorable loving couple, and that is wonderful to see. Love the financial advice.

  39. Carolyn Lindsay says:

    I don't even make 50,000.00. How the hell do you save 100,000

  40. OliDen says:

    Very good points

  41. Lisa Hopkins says:

    Hey I'm new to you but I'm enjoying what I've seen so far my question to you is how to budget when you're on disability I only get $700 a month to live on do you have any suggestions I'm 56 years old and disabled to work add a 9 to 5 job I do occasionally sit with elderly people would love to be able to start my own business that way but I'm having a hard time getting the word out

  42. Lisa Grace says:

    Sounds like you are following the Dave Ramsey plan.

  43. β™‘ Azanri Love β™‘ says:

    Great tips!! πŸ‘πŸΌ

  44. Marian Simms says:

    what jobs do you have??

  45. Nzuri says:

    Do you go into more detail in another video (series) on how you structured your dual incomes into one income for your household? My husband and I have discussed doing the same thing but we both have our own individual debts so how would we restructure paying individual debts and living expenses to one individual income? While not feeling restricted also. Xoxo Love your channel and content! Xoxo

  46. GR8FREYTA says:

    Those are some great tips! Starting off with one of my favorites Make More Money! πŸ‘

  47. Jessica's Posh Life says:

    I just clicked on this and saw it had 999 likes, I got to hit the button and see it change to 1k πŸ™‚

  48. Pri USA says:

    Tasha! Where r u from? So glad I found your channel:):)

  49. Ami Sanchez says:

    Loving this advice… finally ppl with a YouTube channel with a brain πŸ™„ so glad I found u guys

  50. TheKayleeanna says:

    "Stop eating….!" ** both giggle ** Adorbs! Love you both! Excellent content! The yearly budget is LIFE CHANGING! Thanks!

  51. Egbe Etchu says:

    What is an umbrella policy

  52. Polar Opposites says:

    Hey y'all im late to the channel. I heard you mention that you will no longer spend money on expensive cell phone bills. What do u suggest? Are you buying used phones? Are you cell phone free?

  53. Gina Rivera says:

    Do you have a video on insurance policies?

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