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Save money with low cashflow

Many people think it is impossible to save any money on low income, especially on minimum wage. It is definitely doable by adjusting your lifestyle and in this video, I share how I saved $6,000 per year without ever making more than $10/hour and I did this in New York City. New York City is the most expensive city in the United States. If you live in a lower cost of living city and make $10/hour, you can save even more than I did.

Edit: I think some people don’t think my advice works. Here are the actual numbers. You can’t argue with numbers.

FAQ: How did you have $1000 to spend if you made only $120/week? I worked at massage parlor for 60 hours a week answering phones and cleaning the place. Owner paid me $120/week cash. Keep in mind, a massage costs $60/hour. I made $10-$20 cash tips each on 9 massages weekly.

FAQ: Since you’re a tipped worker, isn’t your boss allowed to pay you $3/hour? No. I made like $250/week after I include tips. At 60 hours, that’s like $4.17/hour.

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MY $3/HOUR BUDGET AND LIVING WITH MY PARENTS
$1,000 income every 4 weeks from $480 salary ($3/hr @ 60-hour workweeks) and $520 from tips

$116.50 for public transportation
$40 for brown bagged lunch
$343.50 on gifts for my emotionally manipulative ex-boyfriend, my unhealthy chocolate addiction to cope with the general unhappiness of how my life was turning out, slow accumulation of household items I knew I needed to have to move out without any problems.
$500 for savings

———-
MY $10/HOUR BUDGET, NOT LIVING WITH MY PARENTS
$1800 income every 4 weeks from working more than standard 40 hours, but boss did not me for overtime “time and a half” as required because I was paid under the table.

Room-for-rent in 4bd 2br apt in Brooklyn: $750

Utilities & Internet: $50 after splitting with roommates

Phone bill : $25 From LycaMobile

Smartphone: $0 on a monthly basis because I bought a refurbished iPhone for $95 back then and paid in full (see my other video on brand name smartphones on a budget). An expense like this would come out of my hobbies & miscellaneous category.

Groceries: $180 because I ate vegetarian (lots of beans to fill my stomach), shopped almost everything on sale, and cooked everything from scratch

Public transportation: $0 because I biked everywhere and because I’m getting paid minimum wage, I refuse to work anywhere past a 2-mile radius. I bought the bike using money I saved up from when I still lived with parents.

Toiletries and household supplies from my local 99c store: ~$40 and sales tax free if I paid in cash

Health insurance (Medicaid): $0 but if I didn’t have Medicaid, I would just go without health insurance, which is what I did when I moved to Texas and couldn’t afford it. You are exempt from Obamacare penalty if you’re so low income that you can’t afford it.

Restaurant/Cafes: $0 because I never ate out. If a meal cost $20 and it took me 2 hours of minimum wage work just to eat, it’s not financially smart.

Spending money on hobbies, miscellaneous: $255 for things like my $90 annual Toastmasters dues, used books that weren’t available at the library, $15 weekly pole dancing classes with the early bird special, second hand clothes from eBay, shoes from Payless, $20 haircuts every two months, getting to and from volunteering activities, self-serve laundry, etc. On some months, I would scrimp on dance classes and other stuff just so I could buy bus tickets to visit other cities along the east coast like Philadelphia, Boston, and Washington D.C., couch surf for free, and spend $150 for EVERYTHING on a 2-day trip on the weekend. As you can see, I filled my time with cheap, fulfilling activities that did not involve watching TV (I’ve never owned a TV).

Savings: $500 give or take. $500 is the average. It fluctuated every month by $50, depending on the miscellaneous category.

If you think this budget doesn’t work, it’s probably because you have car loan, student loans, or credit card debt. I have been living on a budget since the $3/hr job I worked fresh out of high school when I was 18. I didn’t go straight to college–that story is for another video. To this day, I have never accumulated ANY debt, though my significant other has debt from before we met, and I have agreed to help him pay it off. The ONLY debt I would ever take on is a mortgage, because if I’m going to pay rent for shelter, I might as well buy my own place and build my net worth.

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Episode Title: Save money with low cashflow

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