Latest news with #AustinWilliams
Yahoo
2 days ago
- Business
- Yahoo
5 ‘Necessities' Frugal People Don't Buy, According to Frugal Living Expert Austin Williams
Inflation, rising housing costs and slow wage growth are among the reasons money has become tight for many Americans. Hence, finding items to cut from your budget is almost sure to help. If you've reviewed your budget and don't know where else to cut costs, consider taking inspiration from frugal people. Check Out: Learn More: In a YouTube video, frugal living expert Austin Williams discussed items typically considered 'necessities' that frugal people don't buy. Here are the top five that you may be able to reevaluate and eliminate from your spending, as well. Apple's latest iPhone 16 and 16 Plus start at $799 and $899, respectively. Other brands have similarly expensive smartphones available, though the average price is just under $300. It's tempting to buy the newest smartphones when they come out so you don't miss out on the attractive features your old phone doesn't have. However, if you're trying to save money, you should probably resist buying one. Williams recommended buying an older version for substantially less when you need to replace your phone. You can find great deals on resale sites like eBay, but make sure to vet any second-hand sellers carefully. Also, try to hold onto your phone for as long as possible to put off that purchase. Read Next: Many people consider bottled water a necessary purchase each time they visit the grocery store. After all, everyone needs to drink water to stay hydrated and healthy. However, if you have access to clean tap water, single-use bottled water is more of a luxury than a necessity. Bought individually, the average cost of a 16.9 fluid-ounce bottle of still water is around $1.60. Given that the average person drinks 167 bottles each year, that's over $250 per year spent on bottled water alone. Plastic water bottles are convenient, but that convenience is costly. Instead of picking up a case of water at the grocery store or buying single water bottles when you go out, consider investing in one reusable bottle. It may be more expensive upfront, but you'll soon save money by refilling your bottle with tap water. Williams said, 'You need water, but you don't need private water.' Stick to the very inexpensive or even free water coming out of your tap as long as it's safe to drink. When you're stressed or tired from working, the convenience of buying prepared food to eat is very tempting. Whether you're buying from your office cafeteria or a nearby restaurant, work lunches likely aren't cheap. And unfortunately, the price of those work lunches adds up quickly. If you spend just $15 daily on lunch, that's $75 per week or $3,750 over the whole year. Instead, pack a lunch at home if you work out of the house. Some people hesitate to pack lunches because they're short on time. One way to get around that is to meal prep and make several lunches at once. For example, on Sunday, you could make a large dish that you can eat all week at work. Planning and making your meals ahead of time will greatly reduce the temptation to buy expensive restaurant food, saving you money. Everyone is living in an age of unprecedented convenience and immediacy. With just a few clicks, you can find something you want, order it and have it arrive at your door within a few hours. It's easy to feel like convenience is a necessity when in reality, it's a luxury. Amazon Prime memberships are the perfect example. The annual Prime plan is currently $139, and is it really worth it? Most people are drawn to the free two-day shipping for Prime members, but you get fast free shipping on any Amazon order over $35 anyway. Nearly 75% of American adults take some dietary supplements, and the vast majority say they are essential to maintaining their health. These supplements may include multivitamins, minerals, amino acids or specific vitamins, among others. A bottle of supplements can cost anywhere from a few dollars to over $100. If that money is a meaningful investment in your health, it's not something to cut from your budget. However, as Williams pointed out, the 'scientific evidence of supplemental benefits is unclear.' If you eat a balanced diet and don't have any underlying health conditions, you may not need to buy supplements at all. Eliminating these recurring costs will save you lots of money in the long run. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard How Far $750K Plus Social Security Goes in Retirement in Every US Region 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on 5 'Necessities' Frugal People Don't Buy, According to Frugal Living Expert Austin Williams Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
How To Get Rich in 6 Months Starting With $0, According to Austin Williams
Even if you don't like where you are financially, you can change your situation around in just six months with proper planning. In a recent YouTube video, frugal living expert Austin Williams broke down what you need to do each month to get on the path to wealth in just half a year. Find Out: Read Next: Here's what he said to do. The first month revolves around awareness and assessment. 'Our goal is to understand our current financial situation,' Williams said. 'This first month is all about seeing where you are at financially — your income, your expenses and where your money is going — because you can't fix what you don't see.' The first task to complete this month is to write down all of your sources of income on a spreadsheet. The next is to track all of your spending. 'Write down every penny that you spend for 30 days,' Williams said. Note the category of each expense — such as housing or groceries — and whether it is a fixed expense that is the same every month or a variable expense. 'By the end of this month, you should have a clear picture with what's going on with your money,' Williams said. 'And once you can see it, then you can start to fix it.' Learn More: The second month in Williams' plan is all about budgeting. 'Our goal is to create a sustainable budget,' he said. 'Now that we've recorded our income and tracked our expenses, we can work on making some changes.' First, identify areas where you can cut back on your spending. Look at the categories you may be spending more on than you anticipated, and identify expenses that seem wasteful. 'Trim the fat and cut out waste,' Williams said. Once you've done this, you can build your ideal budget. 'In this step, we're going to give every dollar a purpose,' Williams said. Look at your total income and see how you can best distribute it between spending, short-term saving and long-term saving. 'The goal of this month isn't to be perfect and just suddenly have a flawless budget, but it's to start being more intentional with your money so you don't overspend and you have some money left over at the end of the month,' Williams said. 'By the end of this month, you should have created a budget that eliminates a lot of waste and allows you to spend less than you earn.' The third month is about structuring your financial system. 'Our goal is to make your money easier to manage through automation and organization,' Williams said. 'This third month is all about creating a simple, repeatable system that allows you to have order in your finances.' First, organize your banking system. This means having separate accounts for spending and saving, and can be as simple as just having two accounts — a checking and savings account. Next, automate as much as possible. 'You might want to set up automatic payments on bills like your rent, utilities or subscriptions so you never miss a payment,' Williams said. 'Also, you might want to automate your savings, allowing you to transfer money directly to your savings account on a specific day. … Doing all this just makes everything easier and a bit more efficient.' The third task for this month is to create a weekly money ritual. 'Once a week, take 10 or 15 minutes just to check in on your finances,' Williams said. 'This could be reviewing your bank balances, looking at your recent transactions [and] adjusting your budget if needed.' By this point in your financial journey, you should have established a budget that allows you to have money left over each month. 'This month is all about using that extra money intentionally in your life, and the best place to start is using it to pay off high-interest debt,' Williams said. The first thing to do this month is to list out all of your debts, including the amount owed, the minimum payment and the interest rate. Next, choose your payoff strategy. You can choose the snowball method, which involves paying off the smallest debt first while continuing to make the minimum payments on your other debts. 'The benefits of doing this is that it gives you quick wins and keeps you motivated,' Williams said. The other method is the avalanche method, where you pay off the debt with the highest interest rate first while making the minimum payments on the other debts. 'The benefit of this method is it saves you the most money,' Williams said. 'Pick whatever method best fits your personality.' Once you've selected your debt repayment method, start executing on your plan. Organize your debts by amount owed or interest rate, and start funneling money each month toward paying down the debt you have chosen to start with. 'You're not going to pay off all your debt in this month, but the goal is to simply create a plan that sets you on the path to becoming debt-free,' Williams said. Once you've set yourself up for financial success, it's time to start growing your wealth. 'At this point in our journey, we have created much more order in our finances and are living in a much more sustainable way,' Williams said. 'As you gain more stability in your financial life, you can focus on getting your money to work for you. … Your money is going to grow much quicker investing than it will by just sitting in a savings account.' The first thing to do this month is to learn the basics of investing. 'In order to get started with investing, there are three main things that you should know,' Williams said. 'The first thing is called compound interest, which means getting interest on the principal and interest on the interest in the market. Generally, investments don't grow in a linear way, but they grow in an exponential way. The more time you have invested, the larger the returns. 'The second thing that you should know when it comes to investing is something called index investing, which is an investment that tracks a market index like the S&P 500,' Williams continued. 'Unlike a stock that is a share of a single company, an index fund is a basket of stocks that tracks a market index. 'The third and final thing that you should know about investing are the different types of investment accounts,' he said. Investment accounts include 401(k) plans, 403(b) plans, IRAs and brokerage accounts. Williams recommended researching the different accounts available to you and then opening one that makes sense for you. 'You can do this simply by going to one of the big brokerages like Fidelity, Vanguard and Charles Schwab,' Williams said. 'Once you do that, the third and final thing that I want you to do this month is make your first investment.' Because investing does always come with risks and the potential to lose money, Williams recommended starting with a small amount and investing more as you become more comfortable. By month six, you're probably not rich yet, but you're on your way to getting there. 'This final month is all about setting goals so your journey doesn't stop here,' Williams said. The first thing to do this month is to set clear, measurable goals. This can be things such as paying off $2,000 worth of credit card debt in three months or saving a six-month emergency fund in a year. 'Take some time to list your goals, the time length you're going to give yourself to complete your goal and what it means to have achieved that goal,' Williams said. The second thing to do this month is take action. 'Simply take action on your goals and don't let your dreams be dreams,' Williams said. 'And that is my six-month plan. And if you follow it to the end, I can almost guarantee that you will be in a much better financial situation than when you started.' More From GOBankingRates 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on How To Get Rich in 6 Months Starting With $0, According to Austin Williams Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
7 days ago
- Business
- The Independent
Austin Williams and Etinosa Oliha to meet in IBF eliminator in Texas
Austin Williams and Etinosa Oliha are to meet in an IBF middleweight eliminator fight on 19 July in Frisco, Texas. A statement from AGON Boxing in Germany, which promotes Etinosa's fights, said that the winner of the bout will become the official mandatory challenger for the IBF middleweight championship currently held by Zhanibek Alimkhanuly (who also holds the WBO belt). Ingo Volckmann, who runs AGON Boxing, said: "We are very proud of Etinosa and of the development of our entire team. Our goal is to position German boxing more strongly internationally again and to give our boxers real world championship chances. The fact that we are now once again bringing a boxer into a final eliminator shows that we are on the right track." The venue for the card will be the Ford Center at the Star, which also serves as a training ground for the Dallas Cowboys. In 2018, Errol Spence Jr defended his IBF welterweight champion at the venue, knocking out Carlos Ocampo in one round. The 19 July bout, which will be broadcast on DAZN, will be the co-headliner on a card topped by the match between Jesse Rodriguez and Phumelele Cafu for the WBC and WBO super-flyweight titles. It is taking place on the same night that Oleksandr Usyk and Daniel Dubois meet in their rematch for the heavyweight championship of the world. Oliha, 21-0 (9), who comes from Turin but is now based in Germany, last fought in September when he stopped Alexander Pavlov in three rounds in Berlin. Previously, Etinosa held the lightly regarded IBO title, winning it from Julio Alamos in Wuppertal, Germany, nearly two years ago. Williams, 18-1 (12), comes from Milwaukee and is best known to UK audiences for losing in eleven rounds to Hamzah Sheeraz in June last year. Since then, he has rebuilt somewhat with two victories, a stoppage over Gian Carrido in Philadelphia and a points decision over Patrice Volny in Orlando. Aside from Sheeraz, the other significant name on Williams's record is Steve Rolls, who lost in four rounds to Gennady Golovkin in 2019 and on points to Edgar Berlanga in 2022. DAZN is the home of combat sports, broadcasting over 185 fights a year from the world's best promoters, including Matchroom, Queensberry, Golden Boy, Misfits, PFL, BKFC, GLORY and more. An Annual Saver subscription is a one-off cost of £119.99 / $224.99 (for 12 months access), that's just 64p / $1.21 per fight. There is also a Monthly Flex Pass option (cancel any time) at £24.99 / $29.99 per month. A subscription includes weekly magazine shows, comprehensive fight library, exclusive interviews, behind-the-scenes documentaries, and podcasts and vodcasts.
Yahoo
24-05-2025
- Business
- Yahoo
7 Aspects of the American Dream Now Unattainable for Middle Class, According to Austin Williams
Middle-class life, once the hallmark of the American Dream, is becoming increasingly challenging to afford, according to money influencer Austin Williams. He recently used a YouTube video to share the observation many people share, but few voice. Learn More: Find Out: However, it doesn't mean the dream is dead, but it does mean Americans have to put in more effort. Here are several more items that are no longer within reach for the average person of middle class status in the U.S. Home ownership is a classic symbol of the American Dream, yet it is becoming increasingly out of reach for the middle class. More than 90 percent of Americans live where home prices have increased faster than the median income, with inflation-adjusted pricing jumping by 65% between 2000 and 2020. Average incomes during that time 'barely rose,' the U.S. Department of the Treasury reported. Williams said to buy a home in this increasingly challenging economic climate, Americans need to embrace the concept of planning ahead. He believes you can still attain that milestone by saving slowly for a down payment, building up a good credit score and waiting for the right opportunity. Read Next: Americans have long considered college the pathway to the middle-class American Dream. However, as Williams highlighted in his video, more and more graduates are emerging with mountains of student debt and sustained unemployment. According to the Education Data Initiative, the average bachelor's degree student graduates with $29,550 in student loan debt. Unfortunately, repaying that debt proves more challenging than many students expect. ZipRecruiter data showed 23% of graduates take more than three months to find a job, and 5% of recent graduates are still searching. Williams's answer is to minimize borrowing and make sacrifices early. He believes in living at home when possible, and using resources like community college, scholarships and grants to minimize debt at graduation. In 2004, 83% of retirees felt they had enough money to live comfortably. By 2024, that number had dropped to 74%. Although that's still a respectable percentage, only 45% of workers believe they'll be comfortable when it's their turn. Williams blamed this trend on the decline of the employer pension and the difficulty of saving in a challenging economy. He admitted that responsibility for retirement falls on the individual, and encouraged people to plan early. Keeping expenses low and investing intelligently are his go-to strategies. Williams knows grocery costs are squeezing the middle class. The U.S. Department of Agriculture reported the price of food increased 23.6% from 2020 to 2024, and basic staples account for much of the increase. The Farm Bureau explained that egg prices increased by 350% per dozen from 2024 to 2025, partially because of the recent avian flu outbreak. Although the average person can't do much about this challenge to the American Dream, Williams believes small strategies still make a difference. He recommended using a meal plan, buying in bulk and searching for savings wherever possible. A car in the driveway has been a staple of the American Dream for years, but it's becoming less affordable. According to Kelly Blue Book, the average new car costs a near-record $49,740. It's not surprising that 40% of Americans have car payments, or that over 75% pay $300 or more a month. Williams's solution? Start with a low-end used car and eventually trade up, avoiding taking on large payments. According to the Peterson-KFF Health System Tracker, Americans spent an average of $13,432 per person on healthcare in 2023 — over $3,700 more per capita than any other developed nation. These costs have left 20 million Americans with medical debt. Williams believes the best defense is to maintain good health habits so it's easier to live with less costly health insurance. This option involves a bit of luck, but the average person can do little to change the cost of healthcare. Williams believes the U.S. is moving toward a 'two-class society,' where people are either doing well or seriously struggling. He thinks the days of resting comfortably in the middle class are gone, leaving this group to rely on their financial savvy. 'Now, more than ever, it's important to be more proactive and resourceful in your life,' he said. 'Focus on the things you can control, like your spending, your mindset, your goals and your expectations.' More From GOBankingRates How Far $750K Plus Social Security Goes in Retirement in Every US Region 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on 7 Aspects of the American Dream Now Unattainable for Middle Class, According to Austin Williams Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
5 Things Frugal Parents Never Waste Money On
Maintaining a budget while parenting can be tricky. It seems like there is a never-ending list of things kids need. That's already a pricey list. Sprinkle in what kids want on top of that, and the costs really start to add up. Learn More: The New Retirement Problem Boomers Are Facing Read Next: 8 Frugal Habits You Should Never Quit, According to Frugal Living Expert Austin Williams There are some things, though, that parents don't have to buy for their kids. Here's a look at what experts say parents can go without. New Clothes for Children Under 6 Kids under 6 are constantly going and growing through clothes. That's why Bethany Skorik, founder of The Charming Diplomat, said you should buy thrifted clothes instead of new ones. 'An added bonus is that you're able to physically see the sizing of the garment before purchasing, mitigating buying items that are too big or small,' she said. Check Out: 5 Frugal Habits Suze Orman Still Follows Even Though She Can Afford Almost Anything New Bedroom Sets A bedroom set is another item that can be outgrown pretty quickly, so Skorik recommended looking for secondhand furniture to avoid spending too much on something that's going to be obsolete in a year. 'After your baby outgrows their crib or toddler bed, consider buying custom sets off Facebook Marketplace,' she said. 'I've had clients buy gorgeous day beds, matching furniture sets and themed beds/bedding for pennies on the dollar. An added bonus is that if you can borrow a friend's pickup truck, you can bring these home already assembled!' Specialized Baby Gear New parents especially can fall into the trap of thinking their baby needs the most advanced equipment on the market. Evan Gold, the founder of Simplify Parenthood, said that just isn't true. 'I spent $150 on a baby food processor that we used maybe 10 times before it ended up gathering dust in our cabinet. Most of my parent friends now either borrow these items or buy them secondhand for a fraction of the cost,' he said. Extra Toys Sure, kids deserve toys. But when the playroom is bursting at the seams with new things to play with, Gold said it's time to cut back. 'One of my biggest parenting revelations was realizing that our kids actually play better with fewer toys around. Having too many toys around creates total chaos and is a nightmare to keep clean! We have found that having just eight to 10 open-ended toys in rotation works perfectly, and doesn't break the bank,' he said. Elaborate Birthday Parties Birthday parties can be extremely expensive when you factor in food and entertainment for all the kids. Gold said that, to save money, it's better to go simple for celebrations. The kids still have fun and parents save a lot of money. 'Last year, we took four kids to the local splash pad, brought homemade cupcakes and juice boxes, and they had the time of their lives for under $50. No expensive goodie bags or pricey destinations required,' he said. More From GOBankingRates Sources This article originally appeared on 5 Things Frugal Parents Never Waste Money On
