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In this video we give you some tips on how to get out of financial hardship, which includes how to make a budget, how to pay off debt fast and how to build your financial foundation back up. By following this plan you will be making money again before you know it. So don’t cut up all your credit cards, just save them in a drawer for the future.
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30 comments
The savings thing is big. We had savings through the COVID shutdown, plus stimulus check. We've been blessed/fortunate enough to come out of this in a better position than when we went into it.
Many people in financial hardship think that money is just a stressful thing. It is for them, it is for their peers. So that’s their reality.
So inspiring ❤️ for me and my channel 💓
Great advice. I think one should always keep their expenses low while trying your best to constantly increase your income
I still owe a substantial amount on student loans but hopefully, will be done with them in two years.
My nigga
01:21 1. Get Your Spending Under Control
03:37 2. Get Your Debt Under Control
06:29 3. Build Your Financial Foundation back up
Love it – there's a lot of good info in #2 and #3 but the most important bit is to rinse and repeat the process week in, week out and month to month!
Star Trek Discovery / Picard sucked! CBS All Access sucks! Make Star Trek great again!
I absolutely love, LOVE that Trader Joe's B-Roll Ben! Where was this humorous guy years ago! You're a funny dude! Hahahaah.
Mint is the old busted, YNAB is the new hotness.
My #1 expense I cut is my girlfriend
Don’t cut up the SPG card from the thumbnail! That was an all time favorite for me.
The first step is being AWARE of your money situation. 👀🤯
Create a budget and have discipline to stick with it. ✅
Save 20% of your income for saving and paying off debt.
Build emergency fund. 💰
Once your debt free and have 3-6 emergency fund.
Use the same 20% of your income to INVEST! 🤙🏽💯🔥
Hi! Can someone pls tell me why my FICO score is way higher then my credit karma score??? It’s like a 50 point difference. Which is more important?
Maybe splitting costs. Let’s say have a roommate or split groceries with you significant other and obviously this would be effective for younger people. Live below your means is huge. I actually just paid of credit card debt and now rebuilding. I’m saving about 50% of my income. Always, awesome and educational video! Stuff they don’t teach in school
Oh wise Shifu,
Video request.
Compare all no annual fee cards with a sign up bonus, capped at $1000 spend.
Yes, no, maybe later?
Also.
Is utilisation on each card or total utilisation against total credit available?
Ie. $100,000 available credit card credit. A balance of $21,000. Is the effect on credit score the same if it is spread among many cards so none are high utilisation vs $21,000 on a balance transfer card with a $23k limit?
1. Sell your kidney 2. Sell drugs 3. Do politics
Is there such a thing as a low interest credit card?
Mint has been crucial and continues to be, in my financial foundation. I also spend a good deal of time at the bookstore reading about healthy habits in relation to money.
Man you are the best. Last year at 18 I started watching your videos and applied for my first credit card. 3 credit cards later, I am now 19 and was recently approved for an auto loan by myself, without the need for someone to co-sign. Thanks dude I really couldn’t have done it without your help.
I love how everyone is talking about the new cc and you talk about something different. Btw I actually fixed my credit myself and yes can be time consuming but alot those companies are useless and expensive
Every one has been living paycheck to paycheck even before this virus
Talking about the pandemic in the past tense is just incorrect. Regardless of what is opened back up, there is no vaccine. The 7-day moving average for daily deaths is 803 deaths per day.
I was about to head to bed but that thumbnail was so good I’m gonna pop in and comment for the algorithm and give a like. Will watch first thing in the morning…
1:22 Cue the lady holding Dollar General $1 gift bags… Ask CEO Todd Vasos- even he is selling.
That mistaken 2? No one else picked up on it?? "PICK THREE, MILORD!!" ✌
People who have excellent credit, savings and zero debt: Watching this video.
People who are drowning in CC debt, with no savings: Watching stupid cat videos and scrolling through facebook.
my credit score tanked below 500 during this time. I finally got it under control and got all my accounts current. Now to pay off all my cards off. Its going to be a long road but at least I'm not stressing anymore and have an actual plan
My only problem is that he seems to encourage prioritising the credit score when chances are they might not be the best person to be handling credit and he should at least mention the snowball method as that works best for the less disciplined members of society but in financial hardship the priority is getting out of debt as quickly as possible, the credit score will increase naturally as debt is paid off and shouldn’t be considered as its best not to be getting many credit cards if you’re struggling with money, I understand that it’s a great plan for some but there are things that I think should have been mentioned