13 WAYS WE SAVED $75,000 - Our Story of Being BROKE to Saving the MOST MONEY We've Ever Had

How do you save more money? After becoming debt free, Brittany and I saved an emergency fund and then moved to Hawaii. That didn't work out. We lost our jobs and most of our emergency fund. This is (part of) the story of how we turned our lives around and saved $75,000. We hope it offers a bit of motivation when it comes to your money.

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0:00 - Intro
2:38 - 13 Ways we Saved $75,000
9:35 - Why it's Important to do More than Save

The 13 ways Brittany and I saved our first $75k cash were:
1) Getting work/jobs.
2) Living below our means.
3) Budgeting monthly.
4) Cutting all unnecessary expenses.
5) Couponing.
6) Not going to grocery while hungry.
7) Buying cheap meals at the grocery store, or keeping our price/meal low.
8) Not going out if we didn’t need to.
9) Getting as many errands done in one trip as possible.
10) Buying used clothing over new.
11) Paying cash for a car to save on interest.
12) If we wanted entertainment, we found it for free.
13) Giving ourselves ~$100/month “fun money.”

All of these, however, can be summed up into a few basic principals: get a good job, live below your means, and save money.

Living by those principles can be a good thing. It teaches you patience and financial discipline, both of which will take you far in life. However, it's also important, once one understands the fundamentals of personal finance, to move forward from the mindset of just saving money and into a mindset of accumulating a collection of assets that actively put money in your pocket.

Money saved in a savings account - a six month emergency fund perhaps - offers a great deal of peace and security. But money in a savings account doesn't grow. It doesn't produce any more money for you. In fact, it may be losing money due to inflation. It's great to have as a hedge against life, but it doesn't work for you.

This is why it's important to eventually start buying investments that allow your money to work for you. The stock market is one example. Real estate, land, commercial office buildings, start ups, your own business, would be other examples. These are things that would be a bit more risky, but with the proper risk management and education, would offer far greater returns than anything in a savings account could produce.

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