Saving Money & Budget tips for 2021 Millennial Money Saving Tips + Tricks for Students Baddie 101
Feb 1, 2024
How to Save Money and Budget in 2021 | Budgeting, Money Saving Tips + Tricks| Baddie 101
In this video I'll teach you the easiest and best way to save money in 2021. I cover budgeting, how to cut back and hacks that really work. Examples in the video include : the envelope method, downsizing coffee, saving account with a great APY and much more!! Watch until the end to learn all my tips and tricks for Money Saving so we can go where the money resides lol !
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Guess what we are all trying to get where the money resides
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Where the money resides. Okay, let me tell you right now. I got all these good deals
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Hello. How are you lovely lovely beautiful beautiful people doing today? This is the first video of 2021
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Uh, uh, 20, 20, 21. So like most people for the new year, you have some goals some
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things you would like to achieve and for some of you that might be you know, saving saving your coins, you know, stacking your
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coins or just budgeting right? You have come to the right place
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Please check out my socials. It is DeepaDJ14 on TikTok and thelifeofdaniellejames on Instagram
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Let's get into this video. Tip number one, you need to figure out why you're saving in the
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first place because that is the biggest mistake that I see a lot
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of people making and that is that they don't even know what their
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end goal is. How can you start when you don't know where the heck you're going
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to end and I know some people will be like, oh, I just want to save as much as we possibly can or how much as I possibly can
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before da da da, right? No, you just saved $20 before that date
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You still save $20 and you didn't give a goal. So your goal was like, I want to save up until this point
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You didn't give yourself anything obtainable to achieve. So you don't know if you did it, right
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So give yourself a clear objective, a clear goal, a clear thing
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that you are trying to get after. That is step one. Okay. Okay
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Second, you need to be honest with yourself. Okay, be honest with yourself
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And this is where people mess up, right? They get their budget, right
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They get their checks right together. They write it down. They be like, oh, I'm only going to spend this much on groceries
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I'm only going to spend this much on this and I'm going to take care of my bills and I'm going to save everything else, baby
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You and I both know you're going to be door-dashing. You're going to see something cute on Fashion Nova
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It's going to have a sale. Okay, you're going to want to treat yourself like come
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Boy, if you don't get... So be honest with yourself. In my budget plans, I put things like my hair, my nails, and
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like basically like girly maintenance things and stuff like that as a bill because I want it done
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I'm not going to be okay if my hair isn't done. I'm getting a little itchy feeling right now, but I'm getting
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back to my hairdresser soon. Okay, girl, so I'm coming for you. Anyway, you need to have those things outlined because they're
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important to you clearly because you spend your money on them. So make sure it is a bill and then in terms of groceries and
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food and expenditures and stuff like that, you know, put how much you really spend and how much of those groceries do you
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actually use and how much do you really eat out? Now, if you eat out a lot of course, you need to cut back on that
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Okay, but be honest. Put everything down, write it out, and be truthful
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Like look at your old account history. So you know where your money is going and that is a good place
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to start, right? So this is what you do. You get your check
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Let's say your check is like a thousand dollars. Hypothetical situation, I'm using a thousand as the standard
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just because it'll be easier numbers. Okay, you have your thousand dollars like so, right
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Now we're going to break down your bills. So we have things like your rent, your car, and your bills, right
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Let's break those down. Let's say your rent hypothetically is going to be $500
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Then we'll say that your car maintenance and stuff is going to be a hundred, perfect world I know, and your rest of your
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bills are going to equal a hundred. Total that up. That'll be 700. We're going to minus that by a thousand
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That leaves you 300 left, right? Cool. So with the rest of that, we're going to put things like our
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self-care, like our hair, our nails, etc. So then we'll total that up
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That'll say a hundred, perfect world I know again. Food, we'll say food is going to cost us grocery wise like
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$75, right? And then there's also gas. So let's say 25 bucks for that
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All right, that'll give us $200. That $200 we're going to be subtracting from the 300 and
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that'll leave us with $100 to decide what we're going to do with, whether we're going to save or spend it, that's up to
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you, but that's what you have in disposable income. Now, whatever money is a left is money that you can decide
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what you want to do. You can take half of that and save it. You can take a put like 25% of it, 10% of it, whatever you
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prefer to do, take that and save it. And then you have that little money to like do with whatever
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you want. If you do that consistently, then that will be a good way
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for you to budget and to save it that way. Another way is the old tried and true piggy bank
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But here's the thing. We're adults. We know we can just unscrew it
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You know what I'm saying? You need to put it in something
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Okay, far far away. If that's like underneath your bed or if that is like in a
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locked safe somewhere that is going to be hard to get into
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put some money in there. Just whenever you have some ones laying around or you have
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a five here, some change here, put it in there and then don't
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touch it. Don't touch it. Okay, until whatever that date is or that thing that you want
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is and you can count it and see how much you save. And honestly, if you do what I'm telling you in conjunction
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with one another, you're going to be amazed at how much you save like genuinely speaking
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And the reason I'm so good at saving and I think the reason why I'm so good with money if I say so myself is because from
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a very young age I was saving my little quarters and I had
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like a little piggy bank that was actually like a bear but it was a piggy bank and I would put my coins in there and
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save in there and I was taught my aunts, my grandparents, they gave me like coin rollers that old school coin rollers
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where you have to do like a certain amount in like a stack of this is like a dollar or whatever and I learned how to
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do that from a young age. Like I was like maybe six, six years old being able to count
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my money going to the bank like depositing my rolls of quarters
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and dimes and stuff like that's why I think I have a good
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grasp on you know, my coins today, you know. Next tip in terms
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and I touched on this briefly but in terms of cutting back if you do spend a lot out, you know, I'm a person I love me
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a good iced coffee. That is my vice. Okay, it just isn't the same. Yes
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I have a Keurig. Yes. I have a regular coffee pot. Yes
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I can buy the concentrated stuff. It's just it just it just it doesn't hit the same as whoop
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whoop in my little car getting my coffee so it just doesn't
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hit the same but this is what you can do so you don't feel as bad right limit it to maybe two times a week
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Like if you go five times a week limit it to just two times a week you go seven days a week, maybe just three times a week
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you know something like that. So that way you're still feeling like you're getting it
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right, but you're not spending so so much. So also don't fall for this trick
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My first degree is in psychology and something that a lot of marketers use is the small medium large scale, right
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So if I tell you this coffee the small coffee is $2 the large
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coffee is $6 you of course you're trying to save your coins
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like know what I'm going to get the small because who needs $6, you know, let's just spend on a coffee, right
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But what they do is the medium will be like 550 and so then
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in comparison you look at the large now because your brain right you look at the large and you go
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Oh wait, that's that's only 50 cents more. So really I'm getting a deal right and I'm getting a large
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no, baby, you done forgot all about the small because they done distracted you with the medium
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Okay, that's that's that's what these people are doing. Okay. Now other ways that you can save figure out where you can
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save on things and when you shouldn't so save your coins for the things that are really going to be valuable
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You should not be spending $30 on a plain white t-shirt. What baby baby
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No, no. Okay, we should not be doing that in 2021. Are you kidding me
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There's so many options out there. Okay, next thing if you're trying to save and save well
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then you need to be thinking about a savings account do not
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get a savings account if they are not giving you a good APY
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Let me tell you something these banks out here are some scammers
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Okay, they don't care about your money. They don't care about it because as soon as you put it in
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there they get to use it. See this is the thing that I think people visualize
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Okay, and this is another like marketing thing that people are being tricked and deceived
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Okay, so your savings account most people in the general public think a savings account works like a checkings account
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but that you just can't touch it. That is not the case. So a checkings account theoretically, right
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You're putting your money in this checking account and then you take your debit card or go to the ATM and you take your
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money out and whatever is there is there and you take your money out and blah blah blah, right
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A savings account your money technically isn't there because that money is now being used by the bank
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The bank is using your money to go do things because you cannot
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touch it for whatever amount. That's why they only allow you to take it out like once a month
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or whatever because they're using your money, you know, if we're thinking about this in the grand scheme, they're using
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your money to do whatever they need to do. That's why you can't remove it as frequently as a checkings
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account. Now what they do to intrigue you because that seems like a scam, right
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Why would I put my money in a place that you're going to be using it and doing blah blah blah blah blah. They say oh investing we're going to give you this percent
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on your money. If they are not giving you at least at least at minimum 1
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on your savings then you don't need to be saving with them. So those big corporations like chasing them
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It's a no, it's a no man Pam because if they're giving you
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right a 0.00000001% on your money dollars
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Okay, that means that in a thousand dollars you put in your
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savings account you worked hard. Do you know that in a year you will get 10 cents
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10 cents for a whole year of investing you will get a whopping
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10 cents. Sounds deplorable, right? Because it is okay, but they are banking on the fact they're banking
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They're banking. They're banking. They're banking on the fact that you don't know but you subscribe
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to the Life of Danielle James channel. So you are not like average Joe Schmo
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Oh, no, no, no. No, you are edumacated. Okay, you are so if it is not if it is not at least 1% you're
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walking away. Okay, and that should be a 1.0% as the absolute minimum
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Okay minimum. Okay. Now the highest places that usually will be either an online
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bank Capital One has a great one alley also credit unions like
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your local mom-and-pop type of it's not a mom-and-pop but local scales banking stuff usually have better AP wise then then
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like a big mass-produced franchise and stuff like that. So basically if you see it every state you go to they don't have
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a good check this account for you, baby. They just they just they just don't okay
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Okay next here's another fact that I want you guys to take
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away from this that is a psychological thing, right? Okay credit cards debit cards these little plastic things that
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we use your brain. It's so weird your brain just kind of forgets that like when
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you swipe it the money leaves right like it's gone. So you just keep swiping because your card is here and your
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card is still here. Like you swipe it you your card is here
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So you're like, oh, I'm good. I'm straight. Yep. Your brain is like, oh, we're good
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We're balling. We're no no no. No, see what you need to do is get you some cash because statistically
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speaking people spend less money when they have cash than when they use their card
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And why is that? It's because when you give the person a $20 bill and it costs
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$18 you only get a dollar and some change back and you're like
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this is less right your brain sees that dollar. Okay, cuz your thing was like $18 in taxes or whatever, right
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So your brain sees this dollar and change and goes wait. Where's my money
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Okay, so that is important to think about. So yeah, just just yeah, but anyway, that's either here nor there
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and you're you know shopping like say you're having a girl's day or whatever get cash baby get cash, especially if you want to
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stick to a budget when you're out get cash when that cash is
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gone, baby. It's time to wrap it up time to kind of kind of say goodbye to
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the store because that card will get you in trouble every single
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time. Last tip that's something that I use is I use the envelope
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technique and it's similar to the cash thing. It's basically whatever I set up for my spending wherever that's
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bills my like feminine maintenance or whatever like extra food money or whatever
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I put the designated amount that I'm giving per paycheck to that
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or like by the month or whatever that you would prefer to do it because you can do by month if you get paid bi-weekly you do
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it, you know every two weeks or whatever on what I'm going to spend in that time frame
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You know what I mean? And that keeps you on track because the same way when you got
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with your girls and you have your amount and you see that money start to diminish
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Okay, when you see that envelope get less thick you be like, oh
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I need to slow my roll. Okay was too much Chipotle today. It's too much Starbucks this week
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Okay, and I got to wait. I got to make it another week. I got to slow down and that'll help you do that because it's a
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visual representation of everything instead of just keeping everything in the same spot
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Does that make sense? I think that makes sense. Anyway, thank you so so much for watching this video
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I hope that you enjoyed it. If you did, please give it a thumbs up
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Please tell me in the comments which tip helped you the most and let me know what you would like next on my boss up series
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I think that's what I'm going to call it. I might find something else. That's a bit more, you know, I don't know baddie inspired maybe
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my baddie 101 baddie 101. I like that. I like baddie 101 because I want to make you guys make sure you
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guys are looking good smelling good feeling good, you know, have your coins together because we got time
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I got time. Okay, we have got time for the foolishness this year. Okay
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Hey, thank you so so much for watching again, and I will see all you lovely lovely beautiful beautiful people again next time
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with another video. Bye guys
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