5 Ways To Elevate Your Finances in 2024 According To Frugal Living YouTuber Kate Kaden (2025)

Diana Kelly Levey

·4 min read

Frugal living influencer Kate Kaden has been sharing personal finance, budgeting and money-saving tips on her YouTube channel for at least four years. With today’s expenses growing every day, it’s no wonder that more Americans are looking for fresh ideas on how to save money or cut expenses. In a recent video, she shares with her YouTube audience how her followers can “elevate” their finances.

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Here’s her road map for financial success this year.

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1. Find Ways To Make More Money

Now is the time to kick-start that side hustle. And then add another one.

Kate calls herself a “part-time job junkie.” If you want to make more money this year, consider a part-time job on top of your regular job. She suggested, “Find a way, make a way.” Many of you already are doing just that. A GoBankingRates survey from last year found that 40% of Americans have a side hustle. You could also try to tack overtime hours onto your full-time job. Ask your manager for more hours. See if one of these eight up-and-coming side hustles is a good fit for you.

2. Know When To Say “No”

Kaden says she’s a reformed people pleaser and acknowledges how hard it is for her to say “no.”

“You can’t say yes to everything, you’ve got to know when to say ‘no’ and you’ve got to be okay with that,” Kaden shared. When you’re on a budget, you’re going to suffer later if you say “yes” to something that isn’t in your budget and you feel pressured to do it. That might mean turning down a few outings with friends. You can’t say “yes” to everything your kids ask you for. You need to say “no” now so you can have confident, excited yeses in the future, Kaden suggested.

3.Know When To Say “Yes”

Sure, you have a budget you want to stick to and it’s important that you stay the course you set out when you have financial goals you’re trying to reach. But don’t let a frugal living mindset get in the way of living life, Kaden suggested.

When a rare opportunity comes up that you want to say “yes” to, it’s okay to do that, she said. “Be excited about it and really take that experience for all it’s worth.”

Frugal living or living on a budget doesn’t mean going through life without ever spending money on things that bring you joy. That’s one of the downsides people say about the FIRE (Financial Independence Retire Early) movement. Some make lots of sacrifices early on hoping to find happiness later when they’re retired but it doesn’t happen.

4. Set Aside Money for Important Things

Think about where the money you’re earning is going to serve you best. Kaden has a line item in her budget that has money funneled into it for things she finds fun.

“Frugal Living is about spending sparingly on the things that don’t matter so that we can spend unapologetically on the things that do,” Kaden said.

Knowing your financial priorities-whether it’s paying off debt, building up savings, or contributing to retirement-can help you stay focused on your goal. Create room in your budget for “fun money” so you have it allocated when you want to buy yourself something, meet up with friends at the bar, or do something special. Some personal finance experts suggest this be five to 10% of your monthly income after taxes.

5. Become at One With Your Budget

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Know your budget inside and out, Kaden suggests. It’ll likely take about three to six months for you to understand your monthly numbers and know how much is coming in and going out on average each month. Once you get the hang of this you’ll know if you have money in the budget for items that crop up throughout the month. This is how you’ll be able to do this consistently and accurately each time. Try one of these best budgeting apps for 2024.

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This article originally appeared on GOBankingRates.com: 5 Ways To Elevate Your Finances in 2024 According To Frugal Living YouTuber Kate Kaden

5 Ways To Elevate Your Finances in 2024 According To Frugal Living YouTuber Kate Kaden (2025)

FAQs

What is the 50 30 20 rule for managing money? ›

One of the most common types of percentage-based budgets is the 50/30/20 rule. The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it's right for you.

How do you live extremely frugally? ›

12 Tips for Frugal Living
  1. Choose quality over quantity. ...
  2. Prioritize value over price. ...
  3. Use credit wisely. ...
  4. Declutter regularly. ...
  5. Use a budget to guide your spending. ...
  6. Know the difference between wants and needs. ...
  7. Be a savvy consumer. ...
  8. Prioritize your values.
Oct 17, 2023

What is the first thing you should do when determining where your money goes and how you can take control of your spending? ›

Step 1: Map your income and spending patterns

To get started on the journey to effectively manage your spending, you'll want to develop an exact picture of where your money is coming from and where it's going. First, understand your income sources. Are you paid bi-weekly or monthly?

Is $1,000 a month enough to live on after bills? ›

Bottom Line. Living on $1,000 per month is a challenge. From the high costs of housing, transportation and food, plus trying to keep your bills to a minimum, it would be difficult for anyone living alone to make this work. But with some creativity, roommates and strategy, you might be able to pull it off.

What is the 20 10 rule money? ›

The 20/10 rule follows the logic that no more than 20% of your annual net income should be spent on consumer debt and no more than 10% of your monthly net income should be used to pay debt repayments.

Is Kaden adopted? ›

'” Though the adoption ceremony was an important milestone, the McMurrays agree it doesn't change anything. Kaden already calls them both Dad, and they already consider themselves a family. The change has already happened through the love — and language — they've given Kaden.

How to be frugal in 2024? ›

9 Frugal Money Habits To Start Using Now as 2024 Approaches, According to Experts
  1. Create a Budget Now. ...
  2. Focus On Only What You Need. ...
  3. Track Your Spending. ...
  4. Maximize Savings Through Smart Home Investments. ...
  5. Buy Used Before You Buy New. ...
  6. Prepare Food at Home. ...
  7. Start a Home Garden.
Dec 19, 2023

How do I stop being a cheapskate? ›

ALLOW ME TO OFFER YOU 8 WAYS TO KILL YOUR INNER CHEAPSKATE LEARNED FROM MY OWN PERSONAL EXPERIENCE.
  1. Acknowledge Your Inner Cheapskate. ...
  2. Admit how spending makes you feel. ...
  3. Face Your Fears. ...
  4. Celebrate Good Spending. ...
  5. Set Non-financial Goals. ...
  6. Set a Saving Budget (and Don't Go Over It) ...
  7. Set a Spending Budget (and Don't Go Under It)
Oct 4, 2016

How to be frugal but not cheap? ›

Skip spending more to elevate your status.
  1. Eliminate Monthly Subscriptions. ...
  2. Shop for New Insurance. ...
  3. Reduce Prescription Costs. ...
  4. Buy Used Items. ...
  5. Rent, Don't Own. ...
  6. Purchase at the Right Time. ...
  7. Buy High-Quality Products. ...
  8. Enlist Your Friends.

Which strategy will help you save the most money? ›

The 5 Most Effective Strategies To Save Money For The Future
  • Set Your Goals Early On. Setting a financial goal early on will boost you to stick to your savings plan. ...
  • Understand Your Cash Flows. ...
  • Open a Savings Account. ...
  • Rethink Debit Cards. ...
  • Monitoring Your Spending. ...
  • Revise Your Emergency Fund.

How do you look at money differently? ›

Master your money mindset
  1. Step 1: Reflect on your financial perspective. ...
  2. Step 2: Adopt a positive money mindset. ...
  3. Step 3: Shift your mindset to save money. ...
  4. Step 4: Monitor your spending. ...
  5. Step 5: Commit to changing your money habits.

How do I take control of my money? ›

5 Steps to Take Control of Your Finances
  1. Take Inventory—and Set Goals. ...
  2. Understand Compound Interest. ...
  3. Pay Off Debt and Create An Emergency Fund. ...
  4. Set Up Your 401(k) or Individual Retirement Account (IRA) ...
  5. Start Building Your Investment Profile.
Jan 9, 2024

What is a 50 30 20 budget example? ›

Applying the 50/30/20 rule would give them a monthly budget of: 50% for mandatory expenses = $2,500. 20% to savings and debt repayment = $1,000. 30% for wants and discretionary spending = $1,500.

What is the 50 30 20 rule of budgeting examples? ›

For example, if you earn ₹ 1 lakh, you can allocate ₹ 50,000 to your needs, ₹ 30,000 to your wants and ₹ 20,000 to your savings, every month.

Is the 50 30 20 rule a good idea? ›

For many people, the 50/30/20 rule works extremely well—it provides significant room in your budget for discretionary spending while setting aside income to pay down debt and save. But the exact breakdown between “needs,” “wants” and savings may not be ideal for everyone.

What is the 20 60 20 money management rule? ›

Put 60% of your income towards your needs (including debts), 20% towards your wants, and 20% towards your savings. Once you've been able to pay down your debt, consider revising your budget to put that extra 10% towards savings.

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