► Click Here To Leave A Question For Me To Answer in a Future Video: https://www.speakpipe.com/JJBuckner

► Sign-up for Public For The High Yield Savings Acct and Start Investing: https://www.pqr3ntrk.com/7P4RRF/J8P3N/

► Sign-up for a 1-on-1 Financial Coaching Call with me. Let's get you back on track financially (LIMITED SPOTS AVAILABLE): https://forms.gle/7cQZt3xc1Kgema649

► Start Tracking Your Dividend Income with The Dividend Tracker: https://thedividendtracker.com/?ref=x...

An extra $10,000 could go a long way today especially given how expensive it is right now just to live your life.

A recent survey was conducted and found that most Americans have $1,000 or less in personal savings; a third have $500 or less saved, while 8.5% have between $501 and $1,000. Meanwhile a whopping 11.4% said they have no savings.

In today’s video, I want to help fix that. I want to show you how you can save an extra $10,000 within 1 year.

Now $10,000 sounds like a lot of money because well… it is. So let’s break this down to more manageable amounts to get a better understanding of exactly what this is going to take in order to save this amount in 1 year.

$10,000 a year is the equivalent to $833/ month which equals $193/week. Therefore, all we need to do is to figure out how we can save an extra $193 every week for 52 weeks and then boom… 10 grand.

1st step is to think about where you are going to save this money, under your mattress, in an envelope, or even better… how about a high yield savings account? The best part about keeping your money in a high yield savings account, is that your money is making you more money. For example, 1 high yield savings account I recommend is Public.

2nd step is making adjustments to your monthly budget. If you are some one who is not keeping track of how much money you have going out every month, you could be losing 100’s to even thousands of dollars. Now I get it, budgeting sucks, but it is key to taking control of your finances and getting ahead financially and I highly recommend it. The first step you can do is simply look at your last month of spending and place every expense into separate categories to figure out where you money is going. Once you’re able to see where your money is going, you can make a plan to reduce the spending in different categories. Here are some that you can start with first:
1. Food
Going out to eat and getting groceries have gotten a lot more expensive over the past year or so. In fact, From 2021 to 2023, food prices have soared roughly 26.7%. Except for that ole faithful Costco wiener. With the recent spike in food prices, some things you can do differently is not going out to eat as much. Make more lunches and dinners at home because who wants to pay $15 for a salad. Yes, I said it. I went to New York not too long ago for a business trip and went out to get me a salad and ended up costing me $15! Something else that can help is by simply eating less, not only will this help you budget line item for food, it will also help your waist line.


Next up is monthly subscriptions. According to C&R Research, an average American spends $219 a month on subscription services. Experts believe the reason behind the craze is that people like convenience and selection. Best thing you can do is to write down every subscription you are paying for and try to get rid of maybe 1 or 2 of them. This will really help you to get closer to saving that $193 every week.

Radical change can also make this possible. Transportation is one of the highest expenses most Americans face today. The average monthly car payment is $738 for a new car and $532 for a used one. If you know you are in a car that is probably a lot nicer than what you really need, selling the car you have and buying a much cheaper one that still gets you from A to B could do the trick. For example, looking at the national averages for car payments, going from a new car payment to a used car payment would save you $206 every month. That right there would get you more than $10,000 for the year.

Now the next strategy in order for you to save up $10,000 is by simply earning more. Now some obvious ways is by getting a promotion at your job, working over time or simply picking up a part time job. But there is another way you can earn extra income, here are some of my favorites.
1. Cleaning out the house!
Sell your crap! One of my wife and I’s favorite things to do is list things we don’t need on Facebook market place.

Another way you can do this is by starting a side hustle. YouTube was one of my side hustles I started and then it actually ended up becoming my full time income.

👊 FOLLOW ME:
Twitter/X:   / jj_buckner  
Instagram:   / jjbuckner  

DISCLOSURE: I am not a finanical advisor. I am sharing my personal opinion on all topics discussed in my videos. Please seek professional advice when needed.