How to Double Your Savings in 2025 (Simple Strategies That Work)
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In today's video I go through 5 strategies to help you double your savings in 2025 and beyond. You can employ any of these strategies today – let me know in the comments what you think.
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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
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⏱️ Timestamps:
0:00 – Start Here
0:39 – Top Category
3:32 – Reverse Budgeting
5:58 – Rakuten
7:00 – Automate
8:38 – Work Backwards
10:30 – Vault Account
Hey all. I just wanted to say thank you for being here, this year blew my expectations out of the water and the community on here is incredible. I hope you’re all having a great December, we have a few more bangers coming out so please be on the lookout!
Thank you for your videos and knowledge. I really like the content and very helpful.
Hey Humphrey, would you ever consider doing a meet and greet?
I started “paying” myself first, so when i get paid, i always fund my savings before paying anything. this has changed my mindset a lot! It helps me save way more
Lets go!
I do this too it’s awesome 😎
Yes, it’s great to see those numbers climbing especially if you only review accounts occasionally.
Gotta Have money to Save money.. period.👍
yep!
Humphrey, thanks to your videos I’m finally building wealth and slowly working my way to a $0 net worth (a silly milestone, I know.) I can’t wait to see where I am in a few years and it’s all thanks to you! So thank you for all you’ve made this year!
Thats not a silly milestone! Be proud of your progress. Keep it going ✊
Honestly sounds like one of the most important milestones, and everything gets a bit easier once you get past it.
NOT silly! Powerful
Oh wow congrats on the Rakuten sponsorship thats huge!!
Thank you! they are great!!
Sometimes I’ll pick a day of the month where I declare I won’t spend anymore non-essential money for the rest of the month. This includes going out, food shopping, etc. usually it’s 1-1.5 weeks left.
Thats good.
Sounds like you’re broke by the end of the month and have to skip on spending money because you have none left
@@ZippyLikesZippers nah, get paid on the 15th and last day. Use last month’s final day to fund rent and bulk groceries. Post-thanksgiving is a cheap protein’s paradise that can feed me for weeks!
Doubling my saving rate from 45% to 90% going to be tough even with these tips
Double your income without increasing your expenses, easy peasy
Same. I already save 42-45 percent of my income. At this point we need to increase our income which I’m about to
Damn stop flexing on us
@@Angultrathat would take it to 72.5%
im weak
The password joke was hilarious 😆
haha
It depends on how much you are currently saving. For example, my annual spending is about 60% of my saving. Even if I had no expenses at all, I couldn’t double it.
Greatest financial decision I ever made was selling my car. No payment, no insurance, no parking fees, no gas, no maintenance. Saves me thousands of dollars a year.
You forgot no depreciation. Car’s depreciation is a silent way to lose huge amount of money.
@BlazerManiacNumber96 if this is an option for you, 100%! How do you get around? Public transportation or do you live right inside a major city?
@ I live in the city. Walk to work is about a half hour each way. I walk to the grocery store too. Take public transport to the gym and Amtrak when I need to go home to visit family. Rent is a little higher in the city but still way cheaper than owning a car. I should also note that I’m fairly young and don’t have kids or anything, which helps. With a family I doubt my strategy would be viable.
@@BlazerManiacNumber96I would suggest an electric scooter. Easy to transport,store away and battery usage probably lasts you a few days to a week
Negotiating is such a thing of the past nowadays. Most apartments are owned by large corporations that have dozens of complexes within the city, and every price is determined by an algorithm. It’s not like you can “speak to the landlord” about the prices. Landlords don’t exist anymore, unless you’re renting a house directly from the owner.
Exactly. And even if you try to negotiate, they have the leverage.
Closed mouths don’t get fed. It doesn’t hurt to try
My wife and I are diving right through the stigma in 2025 and moving in with my parents rent free to save for a house (their idea, not ours). We’re stoked for the impact that will make on our savings! Here we come home ownership (in a year)
I hope you two achieve your goals ! Good luck !
Off-topic question: I’m planning to retire with a $750,000 nest egg and I’m looking for investment advice to make it last. Which investments can be recommend for steady growth and reliable income?
VOO, SCHD and CDs
I’m 45 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?
investors are extra cautious right now. They want to make sure they’re getting a good deal given how much mortgage payments have gone up, and when they don’t feel like they’re getting a good deal, they’re backing out, so definitely looking elsewhere is a necessity.
In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you’re unsure if to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in ROI.
In my opinion, home prices will need to drop by at least 40% for the market to stabilize. If you’re unsure about buying a house, it’s a good idea to consult an experienced advisor for help with portfolio decisions. This approach has worked for me over the past 5 years, helping me earn nearly $1 million in returns.
Melissa Terri Swayne has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
This one is super simple, I put a second 5 on the top of my dresser and BOOM, savings doubled.
Teacher here. Gross $6.3k/m. $1k to 403b, $600 to Roth IRA, $1k to HYSA, and $200 to Indiv.Brokerage. Not much left after other mandatory expenses like housing and insurance, but I’m sacrificing the now for an easier future.
I’m no longer living paycheck to paycheck cuz I got an emergency fund but it still feels like I do💀I don’t wanna touch my emergency fund. But when an emergency does happen, it feels nice not having to actually worry about it
I believe we saw you on Saturday at the “All In” conference, happy holidays!
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.
I’m surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
I’m celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
I’m new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Appreciate your film setup even more now that I’ve been given the in-person tour. Big H you are a professional!