I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can't be more proud that am i now. I'm glad I made a great decision about my finances that changed me forever but now I can't seem to make any other smart investment .
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. I invested in cryptocurrencies and I'm making a huge profits but this was only possible when I started working with en expert trader/ professional in the crypto space
Nice content. To me, trading the forex and crypto market is way better than any online investment 💯. I earn 15 thousand dollars per weekly from trading the cryptocurrency
I'm also a proud beneficiary of crypto investment and trading. I've made alot from trading the cryptocurrency. I earn $15,000 weekly from trading the cryptocurrency
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
Budgeting IS hard! I’m at the step where I managed to hold on to $1k for a year, mind you I did dip under the 1k due to over spending, but it’d only be for a week max. This year, I need to $5k minimum. good luck everyone !!
Some chronic spenders need jedi mind tricks to overcome their spending. I was thinking the same thing, it's literally just a different type of budgeting lol.
Multiple Accounts and Automation, automation, automation. Each account has a purpose, If it's not in the right account you can't spend it on something else
Yep, the way to go. I have a dedicated bills account. I automate a payment from my checking account into the bills acct the day after my pay day which covers all the bills for the coming month, they come out at different times but the money is already there. I do the same to a separate emergency account for my goal of 3 months living expenses, the same to my sinking funds for car, medical, vet bills, holidays etc. what ever is left in the checking account is for food, fun and everyday living
I have a budget because I like having it to know where my monies go but also don’t need it because I’m not buying anything past the necessities. My variable average was $1,100 monthly last year but my rent went up this year and since my fixed cost is now $1,100, I need to decrease variables to $900 to close in 2k per month max total.
Great video, im 23 with a bad spending habit, I blew too much money in my life alread, im trying to train myself. I’m starting my journey to save 5k in 2months
I think this works well until you have a family. Everything gets more complicated at that point, and having a budget will help you communicate your goals better. You want to include a few categories that you would splurge on that accumulate so that you can splurge out of that splurge budget.
Even a family can have a budget, but it would be a lot more complicated. To those extents, you have more people to split that "fun" budget with and all of the other expenses also increase. I think the thing about people with kids that I see a lot, is people get roped into buying every little (overpriced) thing their kids cry about at the store, or just spend a lot of money on things to keep their kids "babysat" like movies and games/gadgets that often quickly go forgotten instead of doing activities. Corporations know this and just keep mfging more and putting high prices on it, knowing people will pay it. These purchases may seem small, but if you're doing it practically every time you're out, over a year's time, it gets into the 1000s pretty easily. What's worse is after that, there's nothing to show for it but scratched up DVDs and sun-faded and cracking plastic toys in the yard. It's dangerous too, because it teaches younguns that buying things is a road to happiness, and it's a habit they could carry into their own adulthood.
@@JadeDragon407 Just to confirm, my previous comment agrees with what you just said. What I’m saying is that the method laid out in the video (not budgeting) only works in a situation where you are really the only main spender on that account. Once you start adding in others, non-budgeting can get very expensive. I have a decent income, so not-budgeting was fine until I have a family relying on my income. Any one of those people could have a medical emergency at any time. It was very eye-opening to suddenly find out how much we can be saving by budgeting. It also helped to improve our family’s communication.
If you dont mind revealing. On these strict budgets what did you live in and in what location. Do you think its bad to move somewhere with an expensive living cost if they pay a lot for the field you are in.
I come to the realization this is a never ending game, but I’m still on my 3k a month for maybe 2-3 years run I know I have to catch up so I’m doing double and triple time I saved up for a home now I want to save for two before buying one. I’m a minimalist this is easy for me I’m a gamer so I can see my outcome when I start my goal it’s levels to this
Hey tommy!? if I already have a truck to convert to a food truck, what's the best way to get funding to convert it over?meaning getting the supplies I need and etc?
@@Retired-jr3qs yup it does. I mean if I eat out let’s say once a week on a Saturday with my girl, the bill will be close to 80$ for 2 people. A little more if we drink a lot so it’s manageable
Pay yourself first... Set it up on autopilot... trust me..., Have it go to a direct deposit at a separate bank at a separate institution. For example, send $150 to a different bank and never check the account except occasionally for fraud... Do this two to three times with different accounts at different banks and you will see a difference..... It funds are tight, just do $30 in each account
1. Pay debts... 2. Save a %... 3. Spend the rest...clothes, entertainment etc...😁 life is too short. Not sure🤔, but there should be an account in which you deposit your monthly or biweekly income and it automatically divides your money for you into different accounts...expenses, savings,emergencys, fun
Still requires budgeting to know if you are going over 70% of your income. Crunching and micromanaging your own numbers is always the best way to embolden yourself to accomplishing a healthy mindset towards money. I have 13 different savings accounts to envelope budget. Of course if you are busy with other grand plans than you might have an accountant that does all that for you.
Are you Dominican ? And do you live in DR ? If so, do you live there from periods at a time ? The only reason why I’m asking is because I’m interested in doing the same.
I agree with everything except the credit card thing. Y would u invest your own money into something? Never heard of that. I made $127k last year only spending about $16k of my own money. On top of that, the rewards u get r amazing. I can basically fly first class for free a few times of year using credit cards
Things that benefit you might not benefit someone that let’s say doesn’t fly just take what you need from the message that person might can’t afford to do what you do to each its own.
I would be cautious using a debit card for everything. You are giving thieves direct access to your money. I use credit cards and pay them off. More thn once I had some low life losers take the credit card info and unsuccessfully try to use it. It wouild have been a bigger headache if it was the debit account.
Maybe I'm weird but this is always the way I saved/invest money, as soon as I get paid all left over from the last check gets saved, along with some of the new check, over and over. I probably dont save as much as I could other was but I find this less strict and allows me to still enjoy the small things I like without also worring about a budget. I still keep stuff like food to a low, for example I just have a bagel for breakfast, cook something that covers lunch and dinner, or just skip a meal if I'm not hungry. Still do stuff like vaping but I manage to still keep that to about $40 a month, ironically figured how to min the cost compared to people who smoke a pack+ a day when I might consume just as much.
You don’t use credit cards that’s nuts your missing out on so much synchrony bank pays my phone bill a couple times a year and it costs me nothing 😂😂 I dunno if I can take anything else you’ve said seriously if your not using credit cards for every purchase and letting the lenders pay a portion of the bill
I really enjoyed your vidéo, you are very direct in how it can work, and what you suggest. You talk very fait and I have to répond to be able to complète my notes. I am going to pay up the remainder of my débats andin June I will be setting aide my first of twelve saving amount of 833.33$ to save up 10K$ to have an emergency fund, and 3 months of core expenses and living expenses aide. And if there is anything left from this put it in à savings account that I will continue to contribue to, in order to use for investments further down the line. You have given me the insentive to get my act together and do the 10K$ challenge. THANK YOU
I’d rather spend everything and more, in my opinion life is short and you should enjoy it spend it when you get it is my rule. After that it’s simple you have to make more to live, once you believe in yourself everything becomes easy, have confidence you will make more.
the iphone 14 is a message from god that you don't know how to manage your budget. i have an android phone that cost $100 and it's not cool but it's good enough and if i lose it in a couch, no big deal
Take out a personal loan nonsecured for as much as possible then don't pay it back. Eventually they will sell it off to a buffoon bill collector who legally can't collect on it.Stay credit free pay cash. Screw the corrupt banks back that's what I did and I own a home cash.
Hey Bryson, how is it going? I’ve just discovered your Channel, and it was such a great discovery, your words are incredibly wise and at the same time very easy to understand to an ordinary person like me who isn’t in this economy thing. Thank you a lot for your work, I can’t wait to watch your other videos. Catch ya later, Hengist Osbyorn.
Budget, I hear a lot of times the trusted ppl on financial channels that I do follow say to not use your debit card, but to use your credit cards. So, now I'm perplexed 😂😂
Credit cards/score are just Americanism. I don't live by that system. I just save up to buy anything I want or need. It surprised me credit is frowned upon in most countries.
Good credit cards offers cash back rewards while most debit cards don't offer any rewards at all. The biggest downside to credit cards is the increased need for financial discipline. Assuming you're not disgustingly wealthy, tracking your spending and budgeting is highly recommended so you don't accidentally overspend. It's really about what works best for you. If you don't feel up to tracking, then debit cards might be a better option.
I pay for almost everything I can on my credit card to get cash back (I use the cash back to buy Christmas presents), but I don’t buy anything I can’t afford. For example, I bought a brand new MacBook last year on my credit card, but I didn’t buy it until I had already saved the money for it to pay off the card. I do not carry a balance on it and pay off my card in full every month.
![NLE Choppa - Or What ft. 41 (Orchestra Mix) [Official Music Video]](http://i.ytimg.com/vi/biOFASEgSOM/mqdefault.jpg)
I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can't be more proud that am i now. I'm glad I made a great decision about my finances that changed me forever but now I can't seem to make any other smart investment .
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. I invested in cryptocurrencies and I'm making a huge profits but this was only possible when I started working with en expert trader/ professional in the crypto space
Investing appropriately today can save you a whole lot of stress in the nearest future
Nice content. To me, trading the forex and crypto market is way better than any online investment 💯. I earn 15 thousand dollars per weekly from trading the cryptocurrency
I'm also a proud beneficiary of crypto investment and trading. I've made alot from trading the cryptocurrency.
I earn $15,000 weekly from trading the cryptocurrency
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
Budgeting IS hard! I’m at the step where I managed to hold on to $1k for a year, mind you I did dip under the 1k due to over spending, but it’d only be for a week max. This year, I need to $5k minimum. good luck everyone !!
Dayum how u do that .. I wish
Budget… great points! And the envelope you stuff cash into is called Cash Stuffing. I’ve also found money saving challenges work too.
So you stopped living on a budget... to ...live on a budget....
I agree living on a budget is the way to go!
Some chronic spenders need jedi mind tricks to overcome their spending. I was thinking the same thing, it's literally just a different type of budgeting lol.
Multiple Accounts and Automation, automation, automation. Each account has a purpose, If it's not in the right account you can't spend it on something else
Yep, the way to go. I have a dedicated bills account. I automate a payment from my checking account into the bills acct the day after my pay day which covers all the bills for the coming month, they come out at different times but the money is already there. I do the same to a separate emergency account for my goal of 3 months living expenses, the same to my sinking funds for car, medical, vet bills, holidays etc. what ever is left in the checking account is for food, fun and everyday living
I have a budget because I like having it to know where my monies go but also don’t need it because I’m not buying anything past the necessities. My variable average was $1,100 monthly last year but my rent went up this year and since my fixed cost is now $1,100, I need to decrease variables to $900 to close in 2k per month max total.
I am also a percentage guy. I appreciate your perspective. Good outlook.
thanks for the video Tommy .
very good advice
😎💪🏿
I just started doing this I realized if I put anything over $500 in the bank and quit my gym membership I could save thousands by 2024
Great video, im 23 with a bad spending habit, I blew too much money in my life alread, im trying to train myself. I’m starting my journey to save 5k in 2months
Let’s gooooooo
Hey! I just want to say thank you for sharing your advice with the rest of us. I find your videos extremely helpful and full of knowledge. ☺
Thanks for this video! This is going to really help me with money management 👌🏾
I think this works well until you have a family. Everything gets more complicated at that point, and having a budget will help you communicate your goals better. You want to include a few categories that you would splurge on that accumulate so that you can splurge out of that splurge budget.
Even a family can have a budget, but it would be a lot more complicated. To those extents, you have more people to split that "fun" budget with and all of the other expenses also increase. I think the thing about people with kids that I see a lot, is people get roped into buying every little (overpriced) thing their kids cry about at the store, or just spend a lot of money on things to keep their kids "babysat" like movies and games/gadgets that often quickly go forgotten instead of doing activities. Corporations know this and just keep mfging more and putting high prices on it, knowing people will pay it. These purchases may seem small, but if you're doing it practically every time you're out, over a year's time, it gets into the 1000s pretty easily. What's worse is after that, there's nothing to show for it but scratched up DVDs and sun-faded and cracking plastic toys in the yard. It's dangerous too, because it teaches younguns that buying things is a road to happiness, and it's a habit they could carry into their own adulthood.
@@JadeDragon407 Just to confirm, my previous comment agrees with what you just said. What I’m saying is that the method laid out in the video (not budgeting) only works in a situation where you are really the only main spender on that account. Once you start adding in others, non-budgeting can get very expensive.
I have a decent income, so not-budgeting was fine until I have a family relying on my income. Any one of those people could have a medical emergency at any time. It was very eye-opening to suddenly find out how much we can be saving by budgeting. It also helped to improve our family’s communication.
Splurge
we spend about 25% of what we make living in Guatemala.
Budget! Great video bro, inspiring me to set aside for my very first rental property.
Budget ❤ love your videos Guy! Taught me everything I know 😅
Thanks 🙏 any questions just let me know me know
Thank you for the fantastic advice.
I'm shooting for 50% savings rate
If you dont mind revealing. On these strict budgets what did you live in and in what location. Do you think its bad to move somewhere with an expensive living cost if they pay a lot for the field you are in.
Any recommendations on building that discipline to avoid spending on these clear wants and temptations?
Hmm, how about learning delayed gratification?
Thank you for the information, it will help me a lot! I’m being more intentional with all I do this year!
Budget! I like the SLT. I never thought about it.
You sound like someone who may have learned partially the hard way. That makes the best teachers. good stuff man!
@insurance.. down for any conversation. Excited for the channels content! He is teaching how to fish over here.
"don't spend more than you make". Except you need to have a budget in order to know how much you make, how much you spend. 🤦♂️
I come to the realization this is a never ending game, but I’m still on my 3k a month for maybe 2-3 years run I know I have to catch up so I’m doing double and triple time I saved up for a home now I want to save for two before buying one. I’m a minimalist this is easy for me I’m a gamer so I can see my outcome when I start my goal it’s levels to this
Hey tommy!? if I already have a truck to convert to a food truck, what's the best way to get funding to convert it over?meaning getting the supplies I need and etc?
I'm going to assume that 20% spend doesn't include housing, utilities, etc?
How I spend my check is $100 per paycheck for entertainment. The rest for bills. What’s left over goes into my savings to invest
Joel Betances does entertainment includes eating out?
@@Retired-jr3qs yup it does. I mean if I eat out let’s say once a week on a Saturday with my girl, the bill will be close to 80$ for 2 people. A little more if we drink a lot so it’s manageable
Investing is my entertainment lol
You should pay yourself 1st...the way you are doing it your savings are scraps
Pay yourself first... Set it up on autopilot... trust me..., Have it go to a direct deposit at a separate bank at a separate institution. For example, send $150 to a different bank and never check the account except occasionally for fraud... Do this two to three times with different accounts at different banks and you will see a difference..... It funds are tight, just do $30 in each account
Thanks so much for the valuable info.
BUDGETING!🙌👑🌻
1. Pay debts...
2. Save a %...
3. Spend the rest...clothes, entertainment etc...😁 life is too short.
Not sure🤔, but there should be an account in which you deposit your monthly or biweekly income and it automatically divides your money for you into different accounts...expenses, savings,emergencys, fun
Yes, I call it the one-third method.
Great content, and thanks for sharing
Still requires budgeting to know if you are going over 70% of your income. Crunching and micromanaging your own numbers is always the best way to embolden yourself to accomplishing a healthy mindset towards money. I have 13 different savings accounts to envelope budget. Of course if you are busy with other grand plans than you might have an accountant that does all that for you.
you think not using your credit card is a good idea? As In you don’t care about credit more than having capital (cash)
Budget............great ideas
Pet food $540.?
Do you have rent if so do you pay it alone?
I love this , systems is awesome
👍🏽 Thank you!
it aint that much of a sacrifice not buying things u dont need is financial protection , protection fromn loosing most of r money lol
What can I investments do you have pls I do not know what to invest in pls
Budget 🙏🏽
We don’t save 0n 2 months a year Christmas and 4th of July
Budgets 🎉🎉
Budget!
I get it
Good advice
Love the idea of the percentage… 😢sadly I don’t make enough to do anything much more than survive… j
@ 12:13 *Measurable
Budget 😊
Are you Dominican ? And do you live in DR ? If so, do you live there from periods at a time ? The only reason why I’m asking is because I’m interested in doing the same.
BuDGet$
HOW... is this NOT BUDGETING?????????
It's... budgeting. Plain and simple.
B U D G E T !!!!!
Yea but you can't di that if your in debt
Made it to the end.
yo bro check out videos of ppl saving mad money on coupons , ppl are actually getting products whole sale
I was just talking about this lol
Budgets!
Budgets
I agree with everything except the credit card thing. Y would u invest your own money into something? Never heard of that. I made $127k last year only spending about $16k of my own money. On top of that, the rewards u get r amazing. I can basically fly first class for free a few times of year using credit cards
Things that benefit you might not benefit someone that let’s say doesn’t fly just take what you need from the message that person might can’t afford to do what you do to each its own.
I would be cautious using a debit card for everything. You are giving thieves direct access to your money. I use credit cards and pay them off. More thn once I had some low life losers take the credit card info and unsuccessfully try to use it. It wouild have been a bigger headache if it was the debit account.
Maybe I'm weird but this is always the way I saved/invest money, as soon as I get paid all left over from the last check gets saved, along with some of the new check, over and over. I probably dont save as much as I could other was but I find this less strict and allows me to still enjoy the small things I like without also worring about a budget. I still keep stuff like food to a low, for example I just have a bagel for breakfast, cook something that covers lunch and dinner, or just skip a meal if I'm not hungry. Still do stuff like vaping but I manage to still keep that to about $40 a month, ironically figured how to min the cost compared to people who smoke a pack+ a day when I might consume just as much.
Budget!!
WHAT! TOMMIE GOR A NEW PHONE!!
Why did you move to DR?
I Didnt move, just staying here with family and friends for awhile
budget!
BUDGET!
Budget
💪🏿💪🏿
Wait a minute I thought you said destroy it.
You don’t use credit cards that’s nuts your missing out on so much synchrony bank pays my phone bill a couple times a year and it costs me nothing 😂😂 I dunno if I can take anything else you’ve said seriously if your not using credit cards for every purchase and letting the lenders pay a portion of the bill
Do you pay off your credit card each time? If not, look at what the interest rate for the card is. You might be paying more than you realize.
Stop budgeting by budgeting 😁
Just don't call it budgeting 🤭
BUDGET !!!!!!!!!!!
Thank you for your content
@whtsappme135 don’t have that app. Thanks though
9:43 "And then for example here in the" [WHAT?] "Republic."
“Dominican” is an island in the Caribbean.
I am not sure you have a mtg.
budget bro
Time for a how much RUclips paid me in 2022 video
Good idea
Budget… and ramsey swears by these for a reason
I really enjoyed your vidéo, you are very direct in how it can work, and what you suggest. You talk very fait and I have to répond to be able to complète my notes. I am going to pay up the remainder of my débats andin June I will be setting aide my first of twelve saving amount of 833.33$ to save up 10K$ to have an emergency fund, and 3 months of core expenses and living expenses aide. And if there is anything left from this put it in à savings account that I will continue to contribue to, in order to use for investments further down the line.
You have given me the insentive to get my act together and do the 10K$ challenge. THANK YOU
Sorry for all the Word changes. I have autocorrect set up in French
I’d rather spend everything and more, in my opinion life is short and you should enjoy it spend it when you get it is my rule. After that it’s simple you have to make more to live, once you believe in yourself everything becomes easy, have confidence you will make more.
Orrrrr.... just go watch Dave Ramsey who has more experience than this guy has years on this earth
Budget
Thanks for sharing your Budget strategy.
Budget🙃
the iphone 14 is a message from god that you don't know how to manage your budget. i have an android phone that cost $100 and it's not cool but it's good enough and if i lose it in a couch, no big deal
also: i'm worth 2.5 million dollars
Take out a personal loan nonsecured for as much as possible then don't pay it back. Eventually they will sell it off to a buffoon bill collector who legally can't collect on it.Stay credit free pay cash. Screw the corrupt banks back that's what I did and I own a home cash.
Worldwide global universal greatest in universe galaxy worldwide world blessed miracle
Just talking
Either way youre still budgeting lok
Lol basically
Hey Bryson, how is it going? I’ve just discovered your Channel, and it was such a great discovery, your words are incredibly wise and at the same time very easy to understand to an ordinary person like me who isn’t in this economy thing. Thank you a lot for your work, I can’t wait to watch your other videos. Catch ya later, Hengist Osbyorn.
Veru
Verygg
🎓 y
It takes me less time to set up a budget and know where all my money is going than all the crap this video lists.
Bro you consistently drop content, but whenever you speak on the topic it nonsense, marketed by a bullshit clickbait title.
Budget, I hear a lot of times the trusted ppl on financial channels that I do follow say to not use your debit card, but to use your credit cards. So, now I'm perplexed 😂😂
Credit cards/score are just Americanism. I don't live by that system. I just save up to buy anything I want or need. It surprised me credit is frowned upon in most countries.
Good credit cards offers cash back rewards while most debit cards don't offer any rewards at all. The biggest downside to credit cards is the increased need for financial discipline. Assuming you're not disgustingly wealthy, tracking your spending and budgeting is highly recommended so you don't accidentally overspend. It's really about what works best for you. If you don't feel up to tracking, then debit cards might be a better option.
I pay for almost everything I can on my credit card to get cash back (I use the cash back to buy Christmas presents), but I don’t buy anything I can’t afford. For example, I bought a brand new MacBook last year on my credit card, but I didn’t buy it until I had already saved the money for it to pay off the card. I do not carry a balance on it and pay off my card in full every month.
budgets
He scammed with me take payment from me and now block me on Instagram
Budget 🫡
😎
First yo comment please I need your help through WhatsApp 😔😔
I don’t use WhatsApp
@@TommyBryson u sound like a foreigner .. we all got WhatsApp lmao just tell em HELL NA!!
@@Tana1600 lol i mean i dont have whatsapp for public communication
Budget!
Budget
Budget
Budget