How To Save Money: You must have heard many stories of people drowning in debt. Billionaire man becomes pauper in a moment. Everything gets wasted. But such stories are rarely heard that a person drowned in debt once again stood on his feet. Not only this, he also repaid the loan and is now earning millions of profits. Today we are going to tell you one such story. A woman from America was drowned in debt of lakhs of rupees. He was not able to understand anything, then he got an idea and today he is on the way to become a billionaire by teaching the same method.
This is the story of 31 year old Jasmine Taylor. Jasmine, a resident of Texas, used to work in a company on a good package. But in 2021, due to the Corona epidemic, he lost his job. He had taken a loan of $60,000 for his studies, which was yet to be repaid. He had over $9,000 in medical and credit card dues. He could not understand anything. She used to watch videos on Youtube to get an idea.
Adopted a unique way to save money
According to a CNBC report, Taylor got the idea of ”cash stuffing” while searching on Youtube. In a way, you can also call it cash budgeting. Simply put, take a vow that you will spend only as much cash as you have. Taylor got $ 1200 as scholarship. He used this. Keep money in different envelopes for each work. Separate envelope for rent, groceries, shopping etc. Stopped using credit card. Created Seeking Fund. This is a kind of fund in which a fixed amount is deposited which can be used to repay the loan in future.
Towards becoming a $1 million company
He started sharing this idea with people on Tiktok. Posts of how to manage your finances by stuffing cash in envelopes soon went viral. She got so many followers that now she started earning. In the very first year, he earned so much that he paid off the bank loan of $23,000. Medical and credit card debt was also repaid. Right now he has 628,000 followers in Tiktok. Everyday she shares a new idea. Chats with people and teaches them money saving tips; In 2022, Taylor’s business crossed about $ 850,000. It is soon going to become a million dollar company.
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FIRST PUBLISHED : March 29, 2023, 15:25 IST
