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Introduction: This is a tiktok video published by Zoey Berghoff. The video has now received more than 9.7K likes, 56 comments and 291 shares. It is deeply loved by fans. The following is the specific data and similar videos. Address, you can complete the operation on this page by clicking play or bookmarking the video.
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I became obsessed the small wins. When I was 20 I knew I didn't want finances to be a topic I was intimidated by, at the time I had no clue what 401Ks, savings accounts, credit cards, investments looked like - but I wanted to. I decided to change the fact that I knew nothing about finances and started taking action on wanting to learn, this looked like podcasts, books, blogs, YouTube videos, etc. I started watching my expenses decreasing by prioritizing what I was spending my money on. I stopped eating out all the time, instead I would still go to dinner with friends but I’d eat before and get a side for $5 instead of a meal for $30. Now to many, this sounds like it wouldn’t do anything - but this is what I mean, small wins. That $25 saved for dinner, compounded to 10 dinners a month, I now had $250 more than I did the month prior to put into savings. I was making about $3,000/month so anything helped. What you see now is someone purchasing real estate for hundreds of thousands of dollars, but what you don't see is the little sacrifices I made for years to get here. 💸 I started tracking my expenses every single month to understand what I was costing to live and how I could reduce these expenses 💸 Setup bi-monthly automatic deposits from my checking to my high-yield savings account to earn interest 💸 At 21, I opened a Roth IRA and put $3K that year because that's all I could afford, the next year I was able to max it at $6,500 by putting bi-monthly deposits aside 💸 I started getting excited about the small wins and progress I was making, watching my savings and investments grow was my new dopamine rather than online shopping 💸 I started freelancing and the ability to take on side work and increase my income It starts small. When you see people driving their dream car, investing in real estate, being 9-5 optional, etc. I can guarantee it didn't happen overnight, they started small and it compounded day by day, year by year.
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Zoey Berghoff
7 months ago
Land hacking properties or properties that have the potential to have increased revenue year after year. What does this mean? When you purchase a home for short term rentals and the property is only zoned and permitted for one property, once you've furnished this and put in your amenities, you're pretty close to capped on what that property will bring in. Sure you can add an amenity or a sauna and get a few extra thousand out of it. But in the sense, you've done what you can and it's time for the next deal. But with land hacking or properties that have the ability to expand - you've just tapped the surface with your first structure or home live. You now have so much more potential with your deal to increase revenue from this specific property. Whether that's building an AUD (accessory dwelling unit) which would become another structure and listing that might double your revenue on the property or a glamping structure that could pull an extra $30-50k a year for you. The point is, when you strategically invest in a property that's just scratched the surface with the first home on it, you now can create a property that equates to what someone else's 2 or 3 properties bring in, but all on ONE property. Your logistics are better, your team is more efficient and your cash on cash return continues to increase. Would you consider investing in a ever-growing property vs. a one and done? #realestate #passiveincome #entrepreneurship #airbnb
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Zoey Berghoff
7 months ago
It starts small. And that can be the hardest thing to understand in the moment when you’re in it. When you’re making $500/month like I once was, when you’re in a 9-5 living paycheck to paycheck like I’ve been, when looking at your money gives you more anxiety than comfort - all things I’ve felt. But it’s the habits you build that will change your life, your finances and your future. Those small habits you practice each day will be the reason you go from making $500/month to managing a business making $50,000/month. If you can’t manage $500, you sure as heck shouldn’t manage $5,000 a month. 1️⃣ Tracking your expenses, this is a non-negotiable honestly for me at this point. You need to understand what is coming in and what’s going out. If you can’t tell me how much you cost to live each month, this is where you start. I track my expenses the SAME way I did when I made $500/month to now managing multiple businesses and personal finances. 2️⃣ High yield savings account, building a 6-12 month emergency fund should be everyone’s first goal when you start earning money at any age. An emergency fund is not for the “if” but for the “when” because something will happen and you need to be prepared. Storing this in a high yield savings account allows you to earn 5% interest on your money and earn interest on your money. 3️⃣ Understand how to leverage travel credit cards. It’s no surprise I love to travel and it’s something I’ve always loved but when I was making $500/month in college I couldn’t afford air travel by any means. So I began to leverage travel credit cards and their sign on bonuses to travel. I always say, don’t put anything on a credit card you couldn’t pay cash for - they’re only a tool if leveraged responsibly. 4️⃣ Create a buy list. I would have a notes section on my phone and ANYTHING I wanted to purchase that wasn’t a necessity I would add to this list and have to wait 24 hours before purchasing. 9/10 times I would choose to not buy the item after waiting on it a day. 5️⃣ Be mindful of where you spend your free time. This took about a year of self awareness and instead of going to target after work I would go outside or the gym. Instead of shopping on online, I began reading. I was spending $600/month at times on random items I didn’t need but was just buying to spend time. Be aware of this and stop going to malls tbh. Comment any money hacks you’ve implemented in your life to share with others 👇🏼 #finances #financetok
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Zoey Berghoff
7 months ago
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