8 Good Financial Feels That Came Out of 2021 | Summary and Q&A

January 12, 2022
Debt Free Millennials
YouTube video player
8 Good Financial Feels That Came Out of 2021


Discover 8 positive financial milestones achieved in 2021, including discounts on medical bills, maximizing retirement plans, and saving for a first home.

Install to Summarize YouTube Videos and Get Transcripts

Key Insights

  • πŸ₯Ί Negotiating with hospitals for bill discounts can lead to significant savings.
  • 🌱 Taking advantage of employer-sponsored retirement plans is crucial for building future financial security.
  • 🀳 Self-employed individuals should consider contributing to a SEP IRA for retirement savings.
  • ❓ Budgeting for necessary expenses like childcare demonstrates responsible financial decision-making.
  • ❓ Patience in the housing market can prevent buying at unsustainable prices.
  • πŸ‘ͺ Saving for a down payment on a first home is an achievement, despite the challenging market conditions.
  • πŸ˜ƒ Waiting for the right time to make big financial purchases, like a second car, can be a wise strategy.


hey guys it's justine with debt free millennials the channel to help you crush your debt and live payment free and today i want to talk about eight financial feels eight things that happened in 2021 that were just really good let's talk about the good stuff with our finances today's video is being sponsored by simplify by quicken it's a budgeting a... Read More

Questions & Answers

Q: How did the author negotiate a discount on a hospital bill?

The author simply called the hospital and asked for a discount, ultimately saving $2,500. The strategy is effective and has been used by others as well.

Q: What is a thrift savings plan?

A thrift savings plan is similar to a 401k, but it is specifically available for government workers and federal employees. The author maxed out their spouse's thrift savings plan, taking advantage of employer contributions.

Q: How does a self-employed SEP IRA work?

As a self-employed individual, the author contributes $1,000 per month to a self-employed SEP IRA. This retirement account functions similarly to a 401k, allowing for pre-tax contributions and taxation upon withdrawal in retirement.

Q: How did the author budget for a full-time nanny?

Despite sacrificing savings in other areas, the author prioritized childcare for their daughter and allocated funds accordingly. They found a suitable nanny, ensuring one-on-one attention for their child.

Summary & Key Takeaways

  • Calling the hospital and negotiating a 30% discount on a hospital bill saved the author $2,500.

  • Maxing out a health savings account and thrift savings plan helped cover medical expenses and secure retirement savings.

  • Contributing $1,000 per month to a self-employed SEP IRA and budgeting for a full-time nanny were important financial goals achieved.

Share This Summary πŸ“š

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on:

Explore More Summaries from Debt Free Millennials πŸ“š

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on: