What do you guys think about the budget? ****Full Description on Categories*** Budget 6 Categories Wealth: Prep: Calculate expenses vs Income How gets percentages (check on google calculate percentage and it’s the first link) Quick example: Calculator Emergency: Its for emergencies Min: 10% Limit: 6 months of expenses Where: Put this money in High yield Savings with FDIC security (this way your fighting inflation) Tip: I also like leaving some money in cash incase Wealthfront 2.57%: www.youtube.com/watch?v=dJXgd... Investment: Multiplying wealth (You can split it) Min: 10%-20% Limit: No limit Keep Building Where: I do Acorn and invest in ETF (Dividend Income) 2.35% in dividend income yearly - Business: Reinvesting into a business can get you over 100% returns every year - Long Term Real estate: Creating a separate high yield saving to save for the down payment Tip: This for guaranteed Returns or safe returns. Acorn Investing returns: www.youtube.com/watch?v=U4RLW... Debt: (Pay it down, if its bad debt and its not making you any revenue) Min: 0%-highest %50 Limit: Best Value to pay the least amount of interest Where: Pay it every time you get paid Tip: I try to do extreme debt repayments of 3-6 months, and longest is 2 years if its student loans Video on Paying Down: www.youtube.com/watch?v=3I_Ua... Expenses: Take your expenses and divide it by your income Min: 10-30% of your income anymore try to lower it in a realistic way (I’m at 5% right now) Limit: 50%-60% ( If your around this area, time to cut out every single subscription and stick to electricity, interest and food) Where: Its an expense account, so nothing left. ( And prepay your bills) Tip: Know the difference from a want and a Need Fun: My favourite account 😊 Min: 10-20% ( I’m at 5%, im doing extreme debt/investment repayment right now) Limit: 20% anything beyond that means you have to increase your income Where: Long term or short term ( high yield savings and a % has to be spent every paycheck) Tip: Savings is great but you have to have a balance no balance then everything will come down crashing. Charity: 1%-10% No one ever went broke by giving away money. - What I use to do is go to supermarkets and buy the person infront of me groceries. Tip: Step by step and brick by brick
Your budget is too complicated for the average person plus the steps are incorrect, is better to kill all your outstanding debt so you can start saving faster, I save an average of 2k a month and that's after Bill, daily expenses, fun and even vacation money, and projected to hit 30k on savings this year
Its very simple your just separating the cash, and everyone is doing unconsciously or consciously, by keeping track of it you know exactly where to put your money and where it belongs.
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
@@msve3730 That's life right there. I was watching another RUclipsr, she had $6million in savings, but had like $250k from college loans. She said she rather use her college loan monthly payments in other investments lol! I was like cool
I recently got into the RUclips financial niche, and I’ve taken a deep dive into investing. Particularly, dividend growth investments as it interests me. I have tried multiple methods to build my portfolio in the past. So far I’m making progress the help of a fund manager. Back to the video, wonderful job there.
@Akina M OtienoFor me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
I invest because it affords I and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising to see the rate at which I’ve had consistent growth. Even got my third payout last week. Real stand-up guy.
I have paid off my mortgage, and have enough saved in my emergency fund before hitting 40 next month. And by God’s Grace I invested two-third of my salary in stocks, ETF, and bonds. Over time my investments have yielded a little over $92k with Sir Jonas’ help. Looking at building a robust retirement in 2 to 3 years time.
TommyBryson my rent is around $925, car note $337, phone bill $150, electric is usually no more than $119, car ins is 80, WiFi is $50, then I have Netflix and renters ins 🥵
here's link to the budget, this should help and i also have a video breaking it down. link: drive.google.com/file/d/1gKf46GP-gkjrQQnFczZ5tuMVA_VAdi-s/view?usp=sharing Video: ruclips.net/video/b7-XiJq73Kk/видео.html
Alantra Martin Alantra Martin best/fastest way I save 10k in 7 months get rid of the car note, in the long run it’s finical suicide, get rid of any credit card debt, you might not want to hear it but look around for cheaper phone plans, live bellow your means for the next 5to 8 months save aggressively as much as you can after you budget yourself after tweaking some bills to your lifestyle and getting rid of any debt you have you’ll save insane amounts in a year that you didn’t know was possible before
I have fumbled so much money due to poor management skills. At this point in my life I’m starting over and I think these strategies can help increase my income and truly become debt free. Right on for the tips. 💯
Hey man, just stumbled across your videos, love your tips. I bring in about $2240 a month after taxes. And have been consistently living paycheck by paycheck and finding myself with about roughly $100 left before my next paycheck. I sat down, checked my monthly spending and guess what? I spend on average$300-350 a month on beer and cigarettes. I'm a month in, have been able to save $200 plus contributing to my 401k(6% pre tax plus 6% company match) and acorns account(7% of monthly income) at the same time (force myself), thankfully I do have about 6k in emergency fund. I've definitely slowed down on stopping by my corner store. My wife works part time and going to school so our plan as of recent is to save $400 monthly. Small I know, but I cannot wait till I get into that phase of seeing my savings grow to where it just becomes second nature. Your tips are helpful, I appreciate it! Subbed!
Thanks brother and its all about getting started and getting the habit down. Once you do that it'll become second nature like you said. Ps. 400 bucks is great
I'm not gonna lie bro, I am very picky to who I subscribe to. I've been watching you for about a month now and all you drop is straight facts and very genuine helpful videos that I don't see anyone else doing. Keep up the great work man, forreal.
I really can’t think of a better wealth creator than the stock market, I went from living pay check to pay check to living the life of my dreams. I’m considering investing in other ventures as well.
@@rohitmajumdar1579 the stock market is crazy, not everyone ends up making it big in the stock market, it could definitely go wrong, there’s just so much risks involve
@@derrickadams8416 Vertically all the markets are crazy, so create a diversified portfolio yourself or seek proper guidance, I’m sure you’ll be profiting in no time.
@@kelvinjohnson3906 I totally agree with you bud, I’m currently on a six figure income, earned through consistent trading in stocks. With my FA Dan Raziel at the helm of my trades, and having monitored my portfolio performance, there’s been significant increase in my annual return. It’s barley 2 years and I’m headed to the 7 figure income soon.
TommyBryson right now im just going to save, but I want to tell you my percentages to see what you think, I’m gonna do 10% emergencies, and right now im going to start with 10% investments until I learn more about it and am confident I’ll get more money back, expenses I’m gonna do 40%-50%
Whoops hit send by accident, for debt, I don’t have a credit card or any time of credit so I’m gonna do 5% and just let that build up and start a secured credit card and just easily get my credit up and be safe, fun I’m going to do about 10%-15% and for charity I’m going to do 5%-10% depending on the paycheck, I have 2 jobs so I make 1 paycheck of like $200 every week then a paycheck of $300 every 2 weeks
Thank you for this! I’m 29 and still terrible at budgeting. I’m a terrible impulse shopper. I make more than I think I do, but after bills it feels like i havent made anything. I know this video came out a few months ago, but it’s almost October and i think I’d love to save a couple hundred at least in the next couple months. Even add a Christmas envelope to get me saving for buying gifts.
Dude! I literally was saying charity is at least a tithe or 1/10th of income just like scripture.... that one comment made me instantly sub You're the man bro! This video put a smile on my face.
Great video, I like how your system is setup. It takes Jim Rohn's "what to do with a dollar" one step further. Awesome job. Just paying my debt, house and car loans each month, I'm down to about $120 left for the month. That supposed to cover food, gas, etc. OUCH, I've got a lot of work to do. And I'm making $40k a year. Lesson here kids, don't run up your credit cards and learn personal finance at an early age!!
Hey Tommy, I just turned 29 and I'm thinking more about my future and finances. I've Been watching your videos, it's been such a blessing. I was never taught alot of this by school or my family so I'm proud to learn and feel like I have control of my life. Thank you Tommy. Big fan. I'll buy you a coffee one day.
I’m definitely going to try this. I’m trying to save and been having a horrible time because of bills on a $8 an hour job, and only getting 24-30 hrs a week. 😞
this is me right now. I feel like I only have enough money to pay for groceries and gas. I usually never have enough to save. Did anything change for you since it’s been a year since u made this comment?
@@fatkakashi7864 Quite a lot has changed. It’s frustrating when you feel like you can’t save anything because everything is going to bill. Between then and now, here are a couple of things I’ve learned that helped A TON: - Do biweekly shopping if you can. Take the total you spend weekly on shopping multiply it by 4 to get your monthly total. Then figure out how much you can spend every two weeks to save any extra $20-$70 bucks. I was spending about $300-$400 a month for my husband (fiancé at the time) and I, when I first started doing biweekly-I was saving $70-$100 bucks a month… -Find meals that can be stretched. Example, pot roast can be stretched for 2-3 meals. Finding meals that I could have at least one meal left over night helped a lot when meal planning. I gotta plan around 11-13 meals every two weeks. Seems like a lot at first but once you learn more recipes it helps! -Try to stay away from a lot of frozen ready to eat foods. They’re costly. If you’re a busy busy person, don’t have much time to cook, try to invest in a slow cooker or an instant pot! 👏🏼 straight up life savers! -Put anywhere between $3-$30 in savings or in an envelope every week. I got discouraged when I did monthly because it stayed stagnant a lot… Don’t let anyone convince you that $3 or whatnot isn’t enough to be putting back. Every little bit helps! -This is going to sound crazy, but sit down and write out all your bills. Write our how much you earn on your paychecks and get the month totals. Plan out your finances months upon months a head of time so you know where your money is going, and how much you actually have left over each week/month. I like to keep at least $100 in my checkings at the end of the month SOLELY for bills. Figure out how much money you need to keep in your checkings for you to be comfortable. I know as long as I have $150-$200 in mine-I’m good. Everything else can go towards savings or things you want/need. -LET YOURSELF get things you want. Even if you have to eat cereal one-two nights in the week to afford it. Let yourself enjoy life. Budgeting is great- but it can be stressful if you never get anything you actually want or if you never go and have fun. - Just try to figure out how much you want/can spend in certain areas. For instance I spend about $30 weekly on gas, it doesn’t fill my tank-but I know it’ll get me to next week. I spend about $40 a week in electricity. So when I sit down to do finances-I have a consistent idea how what I’m spending And when. -if possible, try to keep your work schedule consistent. It’s hard nowadays. What helped in my situation is that my husband has a consistent schedule. He works 45 hours every week at $11.50 now. We was surviving on $8.50-$9 not too long after I made that comment… I don’t work anymore because that’s what works for us. It’s hard to estimate paychecks consistently when hours are changing. So if yours are changing consistently-don’t base your spending on your higher paychecks. Base them on the lesser side. So when you do have that extra cash-it gives that umpf of achievement. And you can do with it what you want-Because you know you’re bills are covered and good from your planning. But overall, just putting any little change/cash you get into savings, and maybe cutting your grocery bill every now and again to put like $10+ into savings or to get something you want makes things more enjoyable. It gets easier and better. Knowing where you can cut, without being miserable is key. Learning how to meal plan is really a big one for me. A pack of chicken breasts (typically has 6 in there) can get you 6 meals. 3 chicken meals for the first week, 3 for the next. Have cereal 1 night each week, etc. meat is expensive but if you know how to use it-you’ll end up with a cheaper bill than you would eating corn dogs, frozen chicken tenders, etc. then you can use that to save or to have some fun etc. I hope this helps 😖😖. It really all depends on your own circumstances. I used this video as a basic guide. And then I branched off on my own with pen and paper. 😅 If you need any help with meal ideas or the budgeting part I probably can lend a hand. 😖😖😖
I really appreciate this video. It really gave me a new perspective on how I'm spending my money -- especially the fun money part. You're right, balance is really important!!
I live with my parents still, I’ve been investing literally like 60% of my income, I rarely go out and buy random shit, but I went to this video to slow down on my investments and start saving
Turned 20 last month and feel like I wasted my last 2 years in school doing nothing I wanted to. Dropped out and got a job a couple weeks ago to save up money to actually learn what I want and I'm trying to invest and budget properly to hopefully be self sufficient and independent by 22. This budget seems super helpful as right now I'm only focusing on investing 100 a week in my dividend portfolio and need to expand my income sources and limit my spending a lot.
Remember your income is going to be your biggest asset, so it might be a good idea to go licensed in something you like or get a trade job. ( to increase your earning potential)
@@TommyBryson Your welcome sir. What budget/investment books would you recommend for beginers? It can be tedious reading through reviews for the best all around information when it comes to finances.
You are ahead of 90% of the population. I wish I had the saving mentality when I was younger. I didn't wise up until I was 30. If you look at any investment calculator you will see the huge amount of gains that can be had by starting earlier.
@killer Don't forget about the other 6 accounts, its all about balance and if you focus on emergencies and emergency is going to come up. Just set aside 10-20 of paycheck for emergencies and and do the rest of the accounts also to invest also. All the info is in the description
@@TommyBryson It is...I think the statistic for the USA is that 76% of all people cannot afford an unexpected $1000 expense. That is sad and unfortunate. A lot of people have a spend first mentality, rather than a save first mentality.
@Brandon imagine the worry that creates mentally for a person, and honestly its all habits. SO many people have moeny for daily wants and no room for what they really need. Only way to change is it, is at an educational level.
I never had a budget before but when I got my taxes 2.5k I kept it and now its almost August with 2k. I realized when I asked my coworkers after 2 months of getting their taxes how much they had saved they told me 0$ not one person saved anything. I realized I could have fun and spend maybe 250$ with me and my dad and have lots of fun. Ghost tours movies gambling drinking and even a concert. Wasnt that bad. Now its the end of the year and I want more. In a unaware way I was already starting to have a budget but it was self taught which means i have flaws in my own creation. I just wanted to know more and your video is guiding me. Maybe with your help...pops and me can have a better future as long as we got.
Make sure the person in front of you in grocery store isn't wearing Louis Vuitton, Rolex and left their Lambo running. You're a lovely and generous man. I pray for success in all your endeavors. I'm really good about saving so my net worth (>my income) is excellent. But I always have ton to learn from financial gurus such as yourself. Thank you
What job do you have? Being able to save 15k at 18 sounds wonderful, but how do you make that much? I feel like I will either be in debt from college, making very low wages so it's not practical to save that much or living in my parents basement so it would be practical to save that much with a small income. So I'm just curious what you do for a living
Damn, I make really good money for a part-time student but I'm a impulsive buyer... I'm so happy I came across this video because I need this big bro! Gonna start withdrawing my money (so I cant use it to buy shit on amazon aha) and putting them into the 6 different envelopes! I cant wait to see how much I end up with at the end of the year! Cheers from Toronto, Canada!
Ayeee lets gooooo and keep me updated. Remember to also invest, new video that should help with that also link: ruclips.net/video/Yy6ASZJIJaQ/видео.html
@@TommyBryson Thanks boss! And I currently invest money into Forex! Been trading for a year and half! Still working on my consistency so I can build up my profits to invest elsewhere!!
I used to be so terrible with my money that I lived paycheck-to-paycheck; it made me feel like some sort of pseudo hotshot. Just a couple of months ago, I moved to New York from Georgia in hopes of getting a fresh start. This just became my favorite video on the internet! Thanks, hoss!
It actually has been working out really well! Sure, I've had some big highs and lows but I'm much better than I was in 2019! I ended up moving back to GA right after the pandemic took over NY, and utilized skills that I learned from this video and other life experiences
From the first week I received an income I always followed a budget. I am single and owned a home, a car with no debt before I retired. I went on annual holidays overseas and always had a savings account. I used a system very similar to yours but my failing was except for interest on savings I never invested my money so my advice is to anyone in their younger years ( I am an old lady but still keep a budget) get sound advice on how to invest your money. Cheers.
Don't forget #1 pay your self 1st, then your bills, keep building your asset column to eventually pay your liabilities. Keep investing in cash-flowing assets and you will be on your Way to success ☝️🏾
Your doing better then probably 90% then everybody, Great job!! and you we're 19 years old, I don't know the write word but your like a financial genius. Your shirt should say "charged overflowed and about to explode stand back or subscribe". I learned in this video what basic living costs were and I always wondered what they were.
A few yrs ago I started saving $20 a day, my thinking was, I often spend that much a day on nothing really (a coffee, donuts, a lipstick, some candy the list goes on). So if I was going to spend that I would also save that. I had $20 a day siphoned off every day, I didn't even feel it. In the first yr I had $7,300. then I was I'm addicted. I want 10,000 savings this yr, even though my hrs at work have been cut, I'm down over $4,000 income, but still want this goal, SO that means redo the budget. I like your system. Going to try it out.
Appreciate you my G, implemented percentages into my spreadsheets budget except for debt because I don't have any, lets me allocate more into other categories 🤙
I’m going to try it. My daughter start at a university, and we have to pay, over 7,500 every semester, grants and scholarships pays the rest, so I’m going to make a category for this
I felt this i had to take the bus everywhere before and after covid just got my cash car. Just keep pushing through i saved $200 every pay check idk if this will help or not.
Thank you for this video Its annoying seeing financial videos that assume you own your home, have muliple cars and assets , land you can safely grow food on, and someone that can harvest and preserve the food you grow, and time to all the DIY things. Oh and at least a few k in savings. So thank you for makjng a video for us peasants
By Christmas I wanna have at least 5k to buy something nice for my parents and my siblings, just turned 20 and it’s tough to save up. But that’s my main goal.
That’s pretty nice of you, I’d recommend using that money to build passive income and then use the passive income created to get something for your parents
I’m literally a few hundreds away from my 600$ goal budgeting saving. I got 300+$ so far and plan on not doing anything with it . Once my goal is finished I want to continue the growth until then
It’s great to have budget. I withdraw budget for a month. I pay cash. If they give me change like $1 bill. I automatically save it. I don’t spend if I don’t have cash anymore. That’s how I limit myself on spending more. I cut all unnecessary expenses. Beside the $1 bill savings. I save automatically $100 every month. I pack lunch and bring water so I don’t need to spend money.
I live with a roommate and I can’t keep money in the house. So i can only do this in a bank because I don’t trust anyone that much to leave money in envelopes ✉️ at home
I believe this is a good method! I will implement this in my money management tools. I have been budgeting but I think this will allow me to be more discipline and really save for the things I want, instead of it just being in a account.
I started this system a month ago it was created by T. Harv Eker and is known as the 6 jars money management system, savings tip put the first 10% in the investment account
I have a budget which shows money for expenses like direct debit bills. For fun we have mobile phones, laptops, Internet and the sports center. Sometimes we have day trips and vacations. I spend money at a charity shop. My investment is my pension which I opened in 2019. I pay 300 pounds a month into my emergency account. I don't have any debt. Thanks for your excellent budget.
Living here in Vegas (born here) and having casinos around you, it's hard for me. But no more! Just as folks said, live like you don't have any extra money. I work 19 hours a week making $23/hr. 🤷🏽♀️ I rent a house. I have a car payment and other bills, and I'm physically disabled to a certain extent but I'm still doing it but I know I can do BETTER. I refuse to fail! 👊🏽 thanks man!
Many personal houses and cars, are expenses. If you take that money and buy investments properties to rent, you could create income from that. which can then give you access to a better life for the family you want to create
$3,500 by the end of year. I want to reach this goal to have motivation to stay on this journey of building wealth and being financially free and providing an easier life for my wife and our baby. Thank you for the insight.
Envelopes are Better, it shows the money being separated and you can count it and feel it. You'll really only need two bank accounts, high yield savings, and checkings to run the expenses through since everything else is being spent every time you get paid.
Damn the flex is real with the one airpod hanging out. lol How are you able to live off only 5% of your income, thats crazy. So happy for you though, sounds amazing!
Lol or I just can’t afford a second side of the AirPod 😂😂and remember it’s a percentage and say for example I make 10k well 5% of my income would be $500 bucks. It gets a little more complex since my income percentages come from different streams of income. So that 5% is really only being taking out of one stream that makes around 5k a month. And the key to getting to 5% is increasing your income and lowering your expenses. I literally spend 60 bucks on food weekly from Hello fresh, and 100 on a phone bill, plus a few mandatory subscription for business that are 50-60 bucks a months total. When I was making less I had more expenses than I do now. Oh and I also don’t have a car which is a big money saver 😎
Great question live with my family, another big cost I don’t have to worry about. I use all the revenue I save on rent in the city, towards my business and long term real estate investing to build up passive income. It helps to have a family that’s on board with the plan. ✅😎
TommyBryson thats what’s up. Your crushing it man. I am working on building up my income streams through sidehustles and investing as well. No where close to 10k a month yet. But i will use you as motivation to succeed. Just subbed!
Thanks Mike and its been almost 5 years of getting the snowball rolling, just keep hustling and create the balance. And keep reinvesting and learning new ways to make more money, once you found a way you like center in and crush everything in that area.
Tommy I have a question I have a Capital One credit card I've used it a few times and I paid it off they only give me a $300 credit limit do you think by my paying off my debt to them they will increase in the near future
That’s called a credit limit increase, I usually ask around the 6 month mark just Incase they automatically raise it up. Make sure you’re paying it off in full every month
Just keep paying it after 5 payment the will give u a credit increase to $500, I recomend to open another card with Discover or Citi having multiple cards reporting would have ur score go up faster also u would able to qualify for better cards like chase freedom or chase sapphire, but dont get more than 2 or 3 cards if u trying to do chase cards in the future
I got approved for the CSP $5k cl,with only 5 months of credit history with a TU score of 666, when I applied I had 2 secured cards citi and Discover with $200 cl each and 1 unsecured with cap. One with $300 cl
It’s called the 5/24 rule and that’s a great strategy. 5/24 means you can’t apply for more than 5 chase credit cards in 24 months, that’s how they prevent credit card churning or at-least try to lol
What do you guys think about the budget?
****Full Description on Categories***
Budget 6 Categories
Wealth: Prep: Calculate expenses vs Income
How gets percentages (check on google calculate percentage and it’s the first link)
Quick example: Calculator
Emergency: Its for emergencies
Min: 10%
Limit: 6 months of expenses
Where: Put this money in High yield Savings with FDIC security (this way your fighting inflation)
Tip: I also like leaving some money in cash incase
Wealthfront 2.57%: www.youtube.com/watch?v=dJXgd...
Investment: Multiplying wealth (You can split it)
Min: 10%-20%
Limit: No limit Keep Building
Where: I do Acorn and invest in ETF (Dividend Income) 2.35% in dividend income yearly
- Business: Reinvesting into a business can get you over 100% returns every year
- Long Term Real estate: Creating a separate high yield saving to save for the down payment
Tip: This for guaranteed Returns or safe returns.
Acorn Investing returns: www.youtube.com/watch?v=U4RLW...
Debt: (Pay it down, if its bad debt and its not making you any revenue)
Min: 0%-highest %50
Limit: Best Value to pay the least amount of interest
Where: Pay it every time you get paid
Tip: I try to do extreme debt repayments of 3-6 months, and longest is 2 years if its student loans
Video on Paying Down: www.youtube.com/watch?v=3I_Ua...
Expenses: Take your expenses and divide it by your income
Min: 10-30% of your income anymore try to lower it in a realistic way (I’m at 5% right now)
Limit: 50%-60% ( If your around this area, time to cut out every single subscription and stick to electricity, interest and food)
Where: Its an expense account, so nothing left. ( And prepay your bills)
Tip: Know the difference from a want and a Need
Fun: My favourite account 😊
Min: 10-20% ( I’m at 5%, im doing extreme debt/investment repayment right now)
Limit: 20% anything beyond that means you have to increase your income
Where: Long term or short term ( high yield savings and a % has to be spent every paycheck)
Tip: Savings is great but you have to have a balance no balance then everything will come down crashing.
Charity: 1%-10%
No one ever went broke by giving away money.
- What I use to do is go to supermarkets and buy the person infront of me groceries.
Tip: Step by step and brick by brick
Your budget is too complicated for the average person plus the steps are incorrect, is better to kill all your outstanding debt so you can start saving faster, I save an average of 2k a month and that's after Bill, daily expenses, fun and even vacation money, and projected to hit 30k on savings this year
Its very simple your just separating the cash, and everyone is doing unconsciously or consciously, by keeping track of it you know exactly where to put your money and where it belongs.
Oh bro
@tintin jia Insurance is part of your expenses.
MCOA, MSRT & WDHR TO THE MOON ..... Diamond hands let’s go !!!!! These stocks are amazing!!!! Stick together !!!!
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
25k a week? Amazing! how did you get started?
I signed up for a 1-on-1 trading session. It's like copy trading, but with personalized guidance.
the session was secure and a supportive way to improve your trading skills while earning, the best part is there's no upfront payment required at all
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
I suggest consulting with Emalia bunker for guidance, This way you can get strategies designed to address your unique long/short-term goals
I want to save 30k and be mentally emotionally physically and spiritually stable
That’s awesome, remember you gotta invest the money to multiply it and create wealth
How about save that type of money and not need it. 😳. Thats the life I'm tryna live. I swear I'm saving then end up goin in the savings 😭😭
@@msve3730 That's life right there. I was watching another RUclipsr, she had $6million in savings, but had like $250k from college loans. She said she rather use her college loan monthly payments in other investments lol! I was like cool
Gotta be discipline at end of the day keep yo eyes on the prize
MCOA, MSRT & WDHR TO THE MOON ..... Diamond hands let’s go !!!!! These stocks are amazing!!!! Stick together !!!!
I recently got into the RUclips financial niche, and I’ve taken a deep dive into investing. Particularly, dividend growth investments as it interests me. I have tried multiple methods to build my portfolio in the past. So far I’m making progress the help of a fund manager. Back to the video, wonderful job there.
@Akina M OtienoFor me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
I invest because it affords I and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising to see the rate at which I’ve had consistent growth. Even got my third payout last week. Real stand-up guy.
I have paid off my mortgage, and have enough saved in my emergency fund before hitting 40 next month. And by God’s Grace I invested two-third of my salary in stocks, ETF, and bonds. Over time my investments have yielded a little over $92k with Sir Jonas’ help. Looking at building a robust retirement in 2 to 3 years time.
@@LovelyRubyruby Could you be kind enough to drop a lead to him? Thank you in advance.
@@LadylikeLilybeeSure,
Hermanw jonas (a g mal comm
Q)How does the rich stay rich
And the poor stay poor...
A)the rich spends like they poor
And the poor spends like they're rich
Well said
@@TommyBryson thank u
Lol yeap
You have a valid point here
truth
I want to have 10k by the end of 2021, in order to have a cushion so I can relax snd not feel stressed and not feel broke
I don’t get paid minimum wage but after all my bills it really feels like it 🥵
WhAt are your current bills like?
TommyBryson my rent is around $925, car note $337, phone bill $150, electric is usually no more than $119, car ins is 80, WiFi is $50, then I have Netflix and renters ins 🥵
here's link to the budget, this should help and i also have a video breaking it down.
link: drive.google.com/file/d/1gKf46GP-gkjrQQnFczZ5tuMVA_VAdi-s/view?usp=sharing
Video: ruclips.net/video/b7-XiJq73Kk/видео.html
Alantra Martin Alantra Martin best/fastest way I save 10k in 7 months get rid of the car note, in the long run it’s finical suicide, get rid of any credit card debt, you might not want to hear it but look around for cheaper phone plans, live bellow your means for the next 5to 8 months save aggressively as much as you can after you budget yourself after tweaking some bills to your lifestyle and getting rid of any debt you have you’ll save insane amounts in a year that you didn’t know was possible before
Right
I have fumbled so much money due to poor management skills. At this point in my life I’m starting over and I think these strategies can help increase my income and truly become debt free. Right on for the tips. 💯
Hey man, just stumbled across your videos, love your tips. I bring in about $2240 a month after taxes. And have been consistently living paycheck by paycheck and finding myself with about roughly $100 left before my next paycheck. I sat down, checked my monthly spending and guess what? I spend on average$300-350 a month on beer and cigarettes. I'm a month in, have been able to save $200 plus contributing to my 401k(6% pre tax plus 6% company match) and acorns account(7% of monthly income) at the same time (force myself), thankfully I do have about 6k in emergency fund. I've definitely slowed down on stopping by my corner store. My wife works part time and going to school so our plan as of recent is to save $400 monthly. Small I know, but I cannot wait till I get into that phase of seeing my savings grow to where it just becomes second nature. Your tips are helpful, I appreciate it! Subbed!
Thanks brother and its all about getting started and getting the habit down. Once you do that it'll become second nature like you said.
Ps. 400 bucks is great
Hmong Lee I realized I spend $600 at Walmart! Freaking Walmart!
Keep up the great work!! You will reap the rewards soon before you know it
It doesn’t matter how much you make, it is how well you managed your money? I make less than many of my friends but I saved more than all of them!
WELL SAID
Agreed. My coworker makes double my salary but I have more savings.
Yep same and my income is only 20k a yr🙈
This is always the case.
I'm not gonna lie bro, I am very picky to who I subscribe to. I've been watching you for about a month now and all you drop is straight facts and very genuine helpful videos that I don't see anyone else doing. Keep up the great work man, forreal.
Thanks brother 😎 appreciate it and any ideas just let me know
Having a million-dollar portfolio is everyone’s retirement dream. Making that dream a reality requires some serious work and strategic planning.
Just few people have been able to double a thousand dollar into millions.
I really can’t think of a better wealth creator than the stock market, I went from living pay check to pay check to living the life of my dreams. I’m considering investing in other ventures as well.
@@rohitmajumdar1579 the stock market is crazy, not everyone ends up making it big in the stock market, it could definitely go wrong, there’s just so much risks involve
@@derrickadams8416 Vertically all the markets are crazy, so create a diversified portfolio yourself or seek proper guidance, I’m sure you’ll be profiting in no time.
@@kelvinjohnson3906 I totally agree with you bud, I’m currently on a six figure income, earned through consistent trading in stocks. With my FA Dan Raziel at the helm of my trades, and having monitored my portfolio performance, there’s been significant increase in my annual return. It’s barley 2 years and I’m headed to the 7 figure income soon.
😬 I've spent money so irresponsibly and have beat myself up over it for far too long, you're a light on this subject thank you!
I want to save $25,000 buy the end of this year so that I can start my own healthy food production business.
Sounds like it needs a lot of upfront cost. Is that for the materials or just for the inventory?
Watching this really helped me understand how to be a REAL adult with my money for when I'm older. Thanks.
Lol most adults don’t do this, that’s why most of them are in trouble, the earlier you start the better
Not the first time I tried budgeting I love online shopping and eating out
keep me updated if you try it
Don’t sell yourself short trying to make this more relatable!! You are smart af period!! 🗣🗣🗣
Start of 2020, the end of this year I want 20k or more in my savings
Let’s gooooo, what are you going to do with it
TommyBryson right now im just going to save, but I want to tell you my percentages to see what you think, I’m gonna do 10% emergencies, and right now im going to start with 10% investments until I learn more about it and am confident I’ll get more money back, expenses I’m gonna do 40%-50%
Whoops hit send by accident, for debt, I don’t have a credit card or any time of credit so I’m gonna do 5% and just let that build up and start a secured credit card and just easily get my credit up and be safe, fun I’m going to do about 10%-15% and for charity I’m going to do 5%-10% depending on the paycheck, I have 2 jobs so I make 1 paycheck of like $200 every week then a paycheck of $300 every 2 weeks
For reals!
Hows it going so far?
Thank you for this!
I’m 29 and still terrible at budgeting. I’m a terrible impulse shopper. I make more than I think I do, but after bills it feels like i havent made anything. I know this video came out a few months ago, but it’s almost October and i think I’d love to save a couple hundred at least in the next couple months. Even add a Christmas envelope to get me saving for buying gifts.
Chrismas would be fun money and step by step, keep me updated
Dude! I literally was saying charity is at least a tithe or 1/10th of income just like scripture.... that one comment made me instantly sub
You're the man bro! This video put a smile on my face.
😎 glad you liked it bro
Great video, I like how your system is setup. It takes Jim Rohn's "what to do with a dollar" one step further. Awesome job. Just paying my debt, house and car loans each month, I'm down to about $120 left for the month. That supposed to cover food, gas, etc. OUCH, I've got a lot of work to do. And I'm making $40k a year. Lesson here kids, don't run up your credit cards and learn personal finance at an early age!!
Great advice and keep updated with your progress and I'm working on a video on paying debt off effectively
This video helped me a lot because I always been my money every month and now I saved up for $1000 in 2 to 3 months
Hey Tommy,
I just turned 29 and I'm thinking more about my future and finances. I've Been watching your videos, it's been such a blessing. I was never taught alot of this by school or my family so I'm proud to learn and feel like I have control of my life. Thank you Tommy. Big fan. I'll buy you a coffee one day.
Checkmark hey man is there anyway you can hmu I need help with this money thing My Instagram is GucciJuan21
We’ll PUT Ya VisiOn CleaR also ReasOn I TeaCh MY kids These Things At a Early Age 👈🏻 -BigSplash 👁💦🌎
I just watched this because i’m trying to save up for a new motorcycle & i ended up learning so much more, thanks dude
😎 that’s awesome
I respect your grind bro ✊🏽 you ain’t lettin nobody outwork you! Keep it up my guy!
Thanks brother and step by step 😎
I would like to save $5,000 for an emergency.
What about investments ?
@@TommyBryson how do you invest with little passive income?
This is how i did it, just start small
link: ruclips.net/video/U4RLWIxubYg/видео.html
@@TommyBryson Tommy I have no Passive Income. I would like to learn. You seem to have "The heart of a teacher" como tu padre. Much love man.
I add 2,000$ for emergency and 3,000$ an iphone 11 and X mas gift ^^
I’m definitely going to try this. I’m trying to save and been having a horrible time because of bills on a $8 an hour job, and only getting 24-30 hrs a week. 😞
this is me right now. I feel like I only have enough money to pay for groceries and gas. I usually never have enough to save. Did anything change for you since it’s been a year since u made this comment?
@@fatkakashi7864 Quite a lot has changed.
It’s frustrating when you feel like you can’t save anything because everything is going to bill.
Between then and now, here are a couple of things I’ve learned that helped A TON:
- Do biweekly shopping if you can. Take the total you spend weekly on shopping multiply it by 4 to get your monthly total. Then figure out how much you can spend every two weeks to save any extra $20-$70 bucks. I was spending about $300-$400 a month for my husband (fiancé at the time) and I, when I first started doing biweekly-I was saving $70-$100 bucks a month…
-Find meals that can be stretched. Example, pot roast can be stretched for 2-3 meals. Finding meals that I could have at least one meal left over night helped a lot when meal planning. I gotta plan around 11-13 meals every two weeks. Seems like a lot at first but once you learn more recipes it helps!
-Try to stay away from a lot of frozen ready to eat foods. They’re costly. If you’re a busy busy person, don’t have much time to cook, try to invest in a slow cooker or an instant pot! 👏🏼 straight up life savers!
-Put anywhere between $3-$30 in savings or in an envelope every week. I got discouraged when I did monthly because it stayed stagnant a lot… Don’t let anyone convince you that $3 or whatnot isn’t enough to be putting back. Every little bit helps!
-This is going to sound crazy, but sit down and write out all your bills. Write our how much you earn on your paychecks and get the month totals. Plan out your finances months upon months a head of time so you know where your money is going, and how much you actually have left over each week/month.
I like to keep at least $100 in my checkings at the end of the month SOLELY for bills. Figure out how much money you need to keep in your checkings for you to be comfortable. I know as long as I have $150-$200 in mine-I’m good.
Everything else can go towards savings or things you want/need.
-LET YOURSELF get things you want. Even if you have to eat cereal one-two nights in the week to afford it. Let yourself enjoy life. Budgeting is great- but it can be stressful if you never get anything you actually want or if you never go and have fun.
- Just try to figure out how much you want/can spend in certain areas. For instance I spend about $30 weekly on gas, it doesn’t fill my tank-but I know it’ll get me to next week. I spend about $40 a week in electricity. So when I sit down to do finances-I have a consistent idea how what I’m spending And when.
-if possible, try to keep your work schedule consistent. It’s hard nowadays. What helped in my situation is that my husband has a consistent schedule. He works 45 hours every week at $11.50 now. We was surviving on $8.50-$9 not too long after I made that comment…
I don’t work anymore because that’s what works for us.
It’s hard to estimate paychecks consistently when hours are changing. So if yours are changing consistently-don’t base your spending on your higher paychecks. Base them on the lesser side. So when you do have that extra cash-it gives that umpf of achievement. And you can do with it what you want-Because you know you’re bills are covered and good from your planning.
But overall, just putting any little change/cash you get into savings, and maybe cutting your grocery bill every now and again to put like $10+ into savings or to get something you want makes things more enjoyable. It gets easier and better. Knowing where you can cut, without being miserable is key. Learning how to meal plan is really a big one for me. A pack of chicken breasts (typically has 6 in there) can get you 6 meals. 3 chicken meals for the first week, 3 for the next. Have cereal 1 night each week, etc. meat is expensive but if you know how to use it-you’ll end up with a cheaper bill than you would eating corn dogs, frozen chicken tenders, etc. then you can use that to save or to have some fun etc.
I hope this helps 😖😖. It really all depends on your own circumstances. I used this video as a basic guide. And then I branched off on my own with pen and paper. 😅 If you need any help with meal ideas or the budgeting part I probably can lend a hand. 😖😖😖
To be honest I just want to save downpayment for a house
Remember it house can just be another expenses, how ever if you get an investment property you can create income and live for free
alex entrepreneur lol
Me too‼️
TommyBryson how??
Continue living with your parents
I really appreciate this video. It really gave me a new perspective on how I'm spending my money -- especially the fun money part. You're right, balance is really important!!
I live with my parents still, I’ve been investing literally like 60% of my income, I rarely go out and buy random shit, but I went to this video to slow down on my investments and start saving
Turned 20 last month and feel like I wasted my last 2 years in school doing nothing I wanted to. Dropped out and got a job a couple weeks ago to save up money to actually learn what I want and I'm trying to invest and budget properly to hopefully be self sufficient and independent by 22. This budget seems super helpful as right now I'm only focusing on investing 100 a week in my dividend portfolio and need to expand my income sources and limit my spending a lot.
Remember your income is going to be your biggest asset, so it might be a good idea to go licensed in something you like or get a trade job. ( to increase your earning potential)
any update bro? how things going?
I'd like an update as well, please. Good or bad is okay. If it's bad, don't feel too down because you're still young and can still fulfill your goal.
This is the kind of content that RUclips is missing. Thank you very much Bryson.
Thanks Ruben, any questions just let me know
@@TommyBryson Your welcome sir. What budget/investment books would you recommend for beginers? It can be tedious reading through reviews for the best all around information when it comes to finances.
Best book i have ever read
link: ruclips.net/video/Dq1rW2NspiQ/видео.html
I want to save 5,000 dollars before the end of year because I want an emergency fund before my 18th birthday.
You are ahead of 90% of the population. I wish I had the saving mentality when I was younger. I didn't wise up until I was 30. If you look at any investment calculator you will see the huge amount of gains that can be had by starting earlier.
@killer Don't forget about the other 6 accounts, its all about balance and if you focus on emergencies and emergency is going to come up. Just set aside 10-20 of paycheck for emergencies and and do the rest of the accounts also to invest also. All the info is in the description
@Brandon its insane to think that having 1k saved up puts you ahead of most americans in savings. The early the better for sure
@@TommyBryson It is...I think the statistic for the USA is that 76% of all people cannot afford an unexpected $1000 expense. That is sad and unfortunate. A lot of people have a spend first mentality, rather than a save first mentality.
@Brandon imagine the worry that creates mentally for a person, and honestly its all habits. SO many people have moeny for daily wants and no room for what they really need. Only way to change is it, is at an educational level.
I never had a budget before but when I got my taxes 2.5k I kept it and now its almost August with 2k. I realized when I asked my coworkers after 2 months of getting their taxes how much they had saved they told me 0$ not one person saved anything. I realized I could have fun and spend maybe 250$ with me and my dad and have lots of fun. Ghost tours movies gambling drinking and even a concert. Wasnt that bad. Now its the end of the year and I want more. In a unaware way I was already starting to have a budget but it was self taught which means i have flaws in my own creation. I just wanted to know more and your video is guiding me. Maybe with your help...pops and me can have a better future as long as we got.
I want $20k to be financially stable when I graduate.
What are you going to do with the cash?
TommyBryson plastic surgery 😉
@@Miaonroblox so much for stability
Tamara look up Dave Ramsey videos
Graduate college?
Make sure the person in front of you in grocery store isn't wearing Louis Vuitton, Rolex and left their Lambo running. You're a lovely and generous man. I pray for success in all your endeavors. I'm really good about saving so my net worth (>my income) is excellent. But I always have ton to learn from financial gurus such as yourself. Thank you
Subbed and liked great video🔥 I’m 18 and I want to have 10k-15k saved up by the end of this year, I currently have 3k saved up with no debt
The key is staying out of debt and getting into debt to create more wealth. Starting early always a great advantage 😎✅
Awesome 👏🏾
😎
What job do you have? Being able to save 15k at 18 sounds wonderful, but how do you make that much? I feel like I will either be in debt from college, making very low wages so it's not practical to save that much or living in my parents basement so it would be practical to save that much with a small income. So I'm just curious what you do for a living
Damn, I make really good money for a part-time student but I'm a impulsive buyer... I'm so happy I came across this video because I need this big bro! Gonna start withdrawing my money (so I cant use it to buy shit on amazon aha) and putting them into the 6 different envelopes! I cant wait to see how much I end up with at the end of the year! Cheers from Toronto, Canada!
Ayeee lets gooooo and keep me updated. Remember to also invest, new video that should help with that also
link: ruclips.net/video/Yy6ASZJIJaQ/видео.html
@@TommyBryson Thanks boss! And I currently invest money into Forex! Been trading for a year and half! Still working on my consistency so I can build up my profits to invest elsewhere!!
I would like to save up 5k because I want to change my mindset, change for the better and for the future 😊
Nice, what about investing
@@TommyBryson I'm not educated about it, I need to know more about investing to invest
You hit the 5k already?
@@bloedaap2506 I havent yet, I'm getting there though
Garrett Lindsay nice i have the same goal to hit the 5K before 2021
I used to be so terrible with my money that I lived paycheck-to-paycheck; it made me feel like some sort of pseudo hotshot. Just a couple of months ago, I moved to New York from Georgia in hopes of getting a fresh start. This just became my favorite video on the internet! Thanks, hoss!
Ayeee lets goooo, keep me updated brother
How's it going champ
It actually has been working out really well! Sure, I've had some big highs and lows but I'm much better than I was in 2019! I ended up moving back to GA right after the pandemic took over NY, and utilized skills that I learned from this video and other life experiences
I actually just found a budget I had printed out I'm going to start using it! Thank you Tommy! :)
Keep me updated 😎
I have tried everything to save it's like I'm addicted to spending as quick as I make it 😤
Keep me updated with this one
Great video Tommy! I'm 18 and I saved my first $10k last year. $100k Here I come!
Step by step and what are you saving for
Congrats!!!! Very Motivating
@@dariawashington8816 thanks!
From the first week I received an income I always followed a budget. I am single and owned a home, a car with no debt before I retired. I went on annual holidays overseas and always had a savings account. I used a system very similar to yours but my failing was except for interest on savings I never invested my money so my advice is to anyone in their younger years ( I am an old lady but still keep a budget) get sound advice on how to invest your money. Cheers.
hey, im a teen planning my future. I am wondering what is a good job i can get that doesnt require college. how did you do it?
Don't forget #1 pay your self 1st, then your bills, keep building your asset column to eventually pay your liabilities. Keep investing in cash-flowing assets and you will be on your Way to success ☝️🏾
Well Said!!
Bryson Steele yes
Thank you so much for this video, my best friend & I are starting this!! 2020 LETS GOOOO!!!
Let’s goooo 😎 keep me updated with your progress
Great breakdown of percentages by category. Thank you!
Your doing better then probably 90% then everybody, Great job!! and you we're 19 years old, I don't know the write word but your like a financial genius. Your shirt should say "charged overflowed and about to explode stand back or subscribe". I learned in this video what basic living costs were and I always wondered what they were.
Glad this helped and thank you 🙏
I want around 40-50k for a down payment on a house, IVF, and to start being more financially stable.
Nice and investment property or personal
Tommy, I was looking for something like this for a while, now I follow you on here, but you have to repost this video.... nothing but gems! Thanks
Enjoyed the video, some of these saving videos are unrealistic that I watched by other RUclipsrs. New subscriber!
Thanks and if you have any ideas just let me know
A few yrs ago I started saving $20 a day, my thinking was, I often spend that much a day on nothing really (a coffee, donuts, a lipstick, some candy the list goes on). So if I was going to spend that I would also save that. I had $20 a day siphoned off every day, I didn't even feel it. In the first yr I had $7,300. then I was I'm addicted. I want 10,000 savings this yr, even though my hrs at work have been cut, I'm down over $4,000 income, but still want this goal, SO that means redo the budget. I like your system. Going to try it out.
This year, I met my goal. For 2020- I’m raising is to 50k .. tryna but house my 22-23, I’m currently 20... I want to have more than 20% down payment
Appreciate you my G, implemented percentages into my spreadsheets budget except for debt because I don't have any, lets me allocate more into other categories 🤙
New sub definitely love what u said about u buying someones groceries
Thanks Priss 🙌and keep me up to date with the budget if you try it
I’m goin to try this budget. Never been able to keep money. I’m workin a full time and part time job rn they both pay every week. I’ll keep you posted
I’m going to try it. My daughter start at a university, and we have to pay, over 7,500 every semester, grants and scholarships pays the rest, so I’m going to make a category for this
It would be a sub category of expenses
Thanks for sharing!
you know i like your video a lot when i start taking notes
Ayeeee 😎
"it's not about how much money you make, it's about how much money you keep" that's a big fact!
I need a car I’m tired of freaking foot dragging 😭 and paying people for rides ughhh
Buy a bicycle
I felt this i had to take the bus everywhere before and after covid just got my cash car. Just keep pushing through i saved $200 every pay check idk if this will help or not.
Thank you for this video
Its annoying seeing financial videos that assume you own your home, have muliple cars and assets , land you can safely grow food on, and someone that can harvest and preserve the food you grow, and time to all the DIY things. Oh and at least a few k in savings.
So thank you for makjng a video for us peasants
Goal is 20,000 by the end of 2020. Saving for my bachelors and first apartment
Thank you man!
Subscribed!
By Christmas I wanna have at least 5k to buy something nice for my parents and my siblings, just turned 20 and it’s tough to save up. But that’s my main goal.
That’s pretty nice of you, I’d recommend using that money to build passive income and then use the passive income created to get something for your parents
I’m literally a few hundreds away from my 600$ goal budgeting saving. I got 300+$ so far and plan on not doing anything with it . Once my goal is finished I want to continue the growth until then
Step by step !!
My first time budget, and so far I love it.
Ayeee lets gooo, happy to hear that. Keep me updated with your progress
@@TommyBryson yes I will🤗
😎
It’s great to have budget. I withdraw budget for a month. I pay cash. If they give me change like $1 bill. I automatically save it. I don’t spend if I don’t have cash anymore. That’s how I limit myself on spending more. I cut all unnecessary expenses. Beside the $1 bill savings. I save automatically $100 every month. I pack lunch and bring water so I don’t need to spend money.
Great value new subscribed watching from uk 🇬🇧
Ayeee thanks and if you have any questions just let me know 😎✅
I'm definitely will start trying this method! Thanks Tommy! Appreciate u bro!
Ayeee keep me updated 😎
@@TommyBryson I surely will in due time! Time will tell if I'm moving correctly or not. I got all of these plans in my head. I'm working it right now
WOW -- THIS IS MAJORLY HELPFUL!! [coming from someone who works at mcDonalds ]
Coming from someone that started with $60 a week. You got this 😎✅
This is the first time I have a budget. Starting next week
This will be the first time i will budget my money.
Let’s gooo, keep updated
I love the video, liked and subscribed, great content 🙌🏽
I live with a roommate and I can’t keep money in the house. So i can only do this in a bank because I don’t trust anyone that much to leave money in envelopes ✉️ at home
Get a Sofi account, it lets you make different sub accounts 😎
Or, get a metal lock box!
Also to take care of music expenses
Please go forth with more classes. It is very much needed.
Thanks I'll work on it
I love that... Money is time!
Yes yes
im just looking to save 1000 for my emergency fund this video helped alot thank you
Thanks Christabel, and what about investing
I believe this is a good method! I will implement this in my money management tools. I have been budgeting but I think this will allow me to be more discipline and really save for the things I want, instead of it just being in a account.
I started this system a month ago it was created by T. Harv Eker and is known as the 6 jars money management system, savings tip put the first 10% in the investment account
Tharv is great, I started out with his system first and then slowly started to change into what I have now
I have a budget which shows money for expenses like direct debit bills. For fun we have mobile phones, laptops, Internet and the sports center. Sometimes we have day trips and vacations. I spend money at a charity shop. My investment is my pension which I opened in 2019. I pay 300 pounds a month into my emergency account. I don't have any debt. Thanks for your excellent budget.
Yes, I would like to see a course in this. The boundaries seems a bit loose.
What do you mean by the boundaries seen a bit loose?
Living here in Vegas (born here) and having casinos around you, it's hard for me. But no more! Just as folks said, live like you don't have any extra money. I work 19 hours a week making $23/hr. 🤷🏽♀️ I rent a house. I have a car payment and other bills, and I'm physically disabled to a certain extent but I'm still doing it but I know I can do BETTER. I refuse to fail! 👊🏽 thanks man!
23 an hour ? What do you do ?
That’s awesome and yes what do you do ?
I’m 18 and my last year of high school and I want to save money to be able to invest and make more so this would be my first time budgeting
Step by step, and keep me updated with your progress
Within a year, you're going to be a gary v 🥰🥰🥰 thank you for the great content!
Ayee thanks and met Gary Once, Huge motivator. Here's that video
Gary: ruclips.net/video/tagxTwCayWQ/видео.html
That makes sence i will do this...thanks for the idea.
😎
Lmaoooo as soon as he said charity my brain said so okay 5 categories 👌🏾
Lol 😂 it can be 1%, it’ll come back 10x
Me😂😂😂
Lmaoooooooooooooo
Mine too 😂😂😂
I just turn 17 and I want to have more than 10k so once I’m 20 I can get myself a little home to start my adulthood. One step at a time
You made some valid points thank you
Thanks, any questions just let me know
Tommy you’re a beast bro, I really enjoy all your videos bro 💯
Thanks bro, and if you want to see any video just let me know - as you know I got like 1 and half ideas left 😂😂
I would like to have at least $10,000-$15,000 but the end of the year. I want to start a family and once again have my own place and car.
Many personal houses and cars, are expenses. If you take that money and buy investments properties to rent, you could create income from that. which can then give you access to a better life for the family you want to create
$3,500 by the end of year. I want to reach this goal to have motivation to stay on this journey of building wealth and being financially free and providing an easier life for my wife and our baby. Thank you for the insight.
so is it 6 different bank accounts or it goes all in the envelopes?
Envelopes are Better, it shows the money being separated and you can count it and feel it. You'll really only need two bank accounts, high yield savings, and checkings to run the expenses through since everything else is being spent every time you get paid.
his single AirPod increases his legitimacy
Damn the flex is real with the one airpod hanging out. lol How are you able to live off only 5% of your income, thats crazy. So happy for you though, sounds amazing!
Lol or I just can’t afford a second side of the AirPod 😂😂and remember it’s a percentage and say for example I make 10k well 5% of my income would be $500 bucks.
It gets a little more complex since my income percentages come from different streams of income. So that 5% is really only being taking out of one stream that makes around 5k a month.
And the key to getting to 5% is increasing your income and lowering your expenses. I literally spend 60 bucks on food weekly from Hello fresh, and 100 on a phone bill, plus a few mandatory subscription for business that are 50-60 bucks a months total.
When I was making less I had more expenses than I do now. Oh and I also don’t have a car which is a big money saver 😎
@@TommyBryson Damn thats solid, what about housing?
Great question live with my family, another big cost I don’t have to worry about. I use all the revenue I save on rent in the city, towards my business and long term real estate investing to build up passive income. It helps to have a family that’s on board with the plan. ✅😎
TommyBryson thats what’s up. Your crushing it man. I am working on building up my income streams through sidehustles and investing as well. No where close to 10k a month yet. But i will use you as motivation to succeed. Just subbed!
Thanks Mike and its been almost 5 years of getting the snowball rolling, just keep hustling and create the balance. And keep reinvesting and learning new ways to make more money, once you found a way you like center in and crush everything in that area.
i know it works man. I used to do this before I got married and had to fight over what was important.smh lol
Okay you shared your budgeting system but, you did not share how you started making $10,000.00 per month.
I have a playlist breaking down my income.
Link:
ruclips.net/p/PL7bLnhVDy78KQJ1gHqmLGNqijr8oGzNi9
@@TommyBryson Sweet! Thank you.
And i just uploaded a video with all the details
Link: ruclips.net/video/b7-XiJq73Kk/видео.html
Thank you- wonderful wisdom!
If you haven't done so already, please do a most influential books, etc. video.
Great idea, I’ll get to work
Tommy I have a question I have a Capital One credit card I've used it a few times and I paid it off they only give me a $300 credit limit do you think by my paying off my debt to them they will increase in the near future
That’s called a credit limit increase, I usually ask around the 6 month mark just Incase they automatically raise it up. Make sure you’re paying it off in full every month
Just keep paying it after 5 payment the will give u a credit increase to $500, I recomend to open another card with Discover or Citi having multiple cards reporting would have ur score go up faster also u would able to qualify for better cards like chase freedom or chase sapphire, but dont get more than 2 or 3 cards if u trying to do chase cards in the future
I got approved for the CSP $5k cl,with only 5 months of credit history with a TU score of 666, when I applied I had 2 secured cards citi and Discover with $200 cl each and 1 unsecured with cap. One with $300 cl
It’s called the 5/24 rule and that’s a great strategy. 5/24 means you can’t apply for more than 5 chase credit cards in 24 months, that’s how they prevent credit card churning or at-least try to lol