Episode 61 - Broke Finance - 6 STEPS ON HOW TO STOP LIVING PAYCHECK TO PAYCHECK
HTML-код
- Опубликовано: 17 окт 2024
- Website:
www.journey2ma...
Facebook Page:
/ journey2master
Electrical Wizardry:
/ 12643. .
Instagram:
/ dustin.stelzer
In this episode we talk finances for people who need it the most. If you’ve been living paycheck to paycheck and can never seem to get ahead, this episode is for you. I talk about my 6 foundational tips for how to think about personal finance when you don’t make very much money.
I started this trade as a broke apprentice and a single dad. I had child support to pay, vehicles that were far beyond my means to keep making payments on, and piles of debt and bad decisions that seemed to appear as brick walls to my future. It seemed like every time I turned around I was faced with financial problems, to which I only made worse decisions. I was being reactive to my finances rather than proactive.
To everyone’s credit, we’re not taught this stuff in school. Nobody sits down with us and tells us how to balance a checkbook (yes…those are still a thing"), properly leverage debt, how to get low-interest credit cards, or how to save up for your future.
There are some basic understandings that those with wealth have, that those without lack. Chief among them is that people with money HOLD ON TO THEIR MONEY. That’s how they HAVE money. Most people do not just get a ton of money one day, instead they slowly put aside a little bit here and there until they have a sizable pile. And then they don’t spend it, they invest it so it continues to grow.
My 6 Steps To Stop Living Paycheck To Paycheck
1) Quit buying dumb shit
2) You don’t need credit (yet)
3) Pay yourself first (non-negotiable)
4) Budget EVERY dollar
5) Don’t buy breakfast, lunch, or dinner
6) Build an emergency fund.
Continue reading at: www.electricia...
#apprenticeelectrician #finances #paychecktopaycheck
---
SUBSCRIBE - www.youtube.co...
IF YOU ENJOY THESE EPISODES PLEASE SUBSCRIBE AND LIKE THESE VIDEOS! ALSO CHECK OUT THE PODCAST ON ITUNES, SPOTIFY, GOOGLE PLAY MUSIC, IHEARTRADIO, OVERCAST AND STITCHER!
“Your Dad is right...” 20 years old, just starting to realize it.
So glad my dad taught me all this stuff growing up.
I am 21 years old, married, with zero debt, and own a home and property.
Easiest way to do these things automatically without having to think about it is:
1.Have a primary checking account for "fun money"
2.Have a secondary checking account for bill paying. Factor out how much out of each pay check you will need to put away in order to pay your bills.
Ex: $500 car bill + $80 insurance bill = $580 ÷ 4 weeks = $145 + $50 buffer (just in case). So out of every pay check set it up so your job routes $195 to your secondary before paying your primary.
3.Setup an off shoot account with a different bank and deposit $20-$40 into it out of every paycheck. Have it auto-drafted so you don't even see it unless you look up you paystubs. Also, shred the debit card, or put it away - never use it.
4. Get a credit card and use that as you would your debit card. Yu want to do this so if your card number is stolen it isn't your money being held up. Credit card companies can easily remove bad transactions and it won't take you a week to get the money back. I like to front load the money going into my primary into my credit card (yes, credit cards can be pushed into a negative balance).
5.Setup a savings account for emergency funds. I try to keep mine at around $1k. Then I'll slowly add to it via my spending money and from the little buffer from my bill pay account. Once it goes past $1k I'll move the money to the account I don't touch - which again, is out of sight and out of mind. This process only needs to be handled once every two months. You can move the money around faster if you want to worry about it more often.
6.Start using apps like Robinhood etc. for investing. Research how to do it properly and start very small.
This is what I've been doing and it isn't fool proof, but it does take quite a bit of the thinking out of the mix. That way I'm not constantly worrying about it. So long as those accounts have the right balances in them at the correct times I know I'll be okay.
As soon as I heard you say "every dollar has a name" I knew you were a Dave Ramsey fan.
Ted Hosmer yeah me too! I saw the Emergency fund too! I love Dave! He is fucking awesome!
Dave is the man
Ted Hosmer I hate Dave Ramsey
Andrew Martinek but Robert kysoki is richer, so who’s advice would you take
@@theconsciousmovement9669 Everyone's entitled to their opinion. Are you against his low-risk financial principles or his personality?
The day to day stuff is what costs, it adds up real fast. Those people that get 2 Starbucks a day, that’s $300+ a month. It doesn’t seem like a lot when you say oh it’s only $5. But doing that multiple times a day and every day. It will screw you over real fast.
beer and smokes are bad too. But unfortunately they're harder to quit than ice cream flavored coffee.
My wife wanted coffee at some high end coffee shop meanwhile Dunkin Donuts down the block.
Im thinking no big deal; $5 bill should cover it easily.
Goddam coffee cost $6.40
Also cashier looked confused at what to do with the cash. I guess everybody uses plastic or since we were in a pandemic.
Love your video. I read somewhere once that “if you spend all your money on crap that’s all you’ll ever have...crap.” That really opened my eyes. I had tons of cheap stuff from target, drug stores, cheap clothes, cheap junk food on the go, etc. but I never had money to do anything good in life. A weekend away, a vacation, a concert, or even a few days off work without using a credit card. Then work extra to pay it off then repeat. I’m now way more minimal and stick to my lists and only buy when I need something. Debt free and actually living a fun life and I don’t miss buying crap at all. It gets so much easier when you realize how much you’re saving. 10 years ago I realized I needed to start saving but had almost nothing extra. I saved $5 a week (set it on auto so you actually do it) and once I got used to it I increased it by $5-$10 every few months and now I’m able to save much more but you have to start somewhere no matter how small. Consistency is everything.
I'm a second year apprentice. Still paying off debt for my trade school. I appreciate the wisdom, I try to take out a small percentage out of each paycheck and forget about what is in my savings. That's truly the hard part!
Set up something automatic in your bank account. I saved up $5000 last year without even realizing.
If you live in Quebec, trade schools are public and free, we don't have private trade schools. You may need to buy a few books, but that's it.
I thought apprentice for trade was free.
Im thinking about retiring and learning a trade
@@JohnDoe-zz7onemployers pay for it usually if they hire you.
But you won't accumulate debt lol. Cuz it is mostly reimbursed and you still work 30-40 hours
Nice Video 👍 I'm Electrical Contractor in Omaha Nebraska. Of 46 years old and Retiring in a year . It can be done .. Everything your Saying is Spot On .
This sounds a lot like Dave Ramsey principals which has helped me a lot as an apprentice.
The shit works buddy I'm telling you
@@Journey2Master Your situation was worse than mine ever was, I respect the hustle! Love the videos, getting out of tech soon to learn a trade.
@@iMarimbaFTW what type of tech were you in?
Dave Ramsey is very smart and wise but the crux of what he says is just control your behavior.
Put 10% of what you make away, it adds up real fast. I got that from the book "The Richest Man in Babylon "
Love your video man. Keep going. Today is my first day of being an apprentice
Very nice
Keep it up bro
Michael Klondik how's it going, 4 weeks later now
How is it so far?
Metoo! I started 4 months ago also!
“I live within my means.” The secret to financial security!
Brother you have given some of the best advice I have heard anywhere. I believe it’s because you are still in the sweat game that it seems to be applicable. Most financial speeches don’t mesh with many cause its being spoken by a suit who claims to have done it, and you my friend aren’t in a suit and you mentioned Child Support 👍🏻. That is actually the first, besides taxes and insurance, deduction from my checks. I do that so I have positive tracking of it in case baby momma ever tried to say I don’t pay
Thanks my dude, you're right...baby-momma and government get their hands on your check before you do. But with your remaining slice, you can do a lot if you're smart.
Thanks for the video. Currently an hvac tech. 25 years old. Been in the trade for 6 years. But still living paycheck to paycheck. Started a mutual fund a year ago. Not getting take out everyday anymore. So many goddamn Bills.
You'll get there buddy just be an assassin with your impulse-control, and keep adding to your pile.
what kind of mutual funds? check out morningstar rating service as well as index funds & etfs
@@cgletts it's an AKRE focus fund. I've notice some pretty good yield so far. I'll definitely check out morning star. Thanks
@@Stephen-655 Do you own your own place? This kind of worries me getting into it. I am starting HVAC program in August and will be 20 years old when I start school and 20-21 years old by the time I get my first job, is it just you aren't making good money in the trade or just your spending habits that is keeping you living from paycheck to paycheck?
@@Smith-qt4us I rent right now. But luckily rent isnt too high. Nothing to be worried about man. You will have opportunity to make some really good money if you put your head down and grind. Learn from each and every guy you work with. Currently paying off student loans, car loan and credit card debt that was racked up in my early 20s. Which is the reason why the budget is tight.
This is in some sense motivational videos for electrical workers. U should continue this
I've had to make cutbacks and this video is really helpful. I was making good money on the road doing solar farm work the pass year and a half, but I recently got into electrical and love the trade and made the decision to take a big pay cut to start as an apprentice to become a journeyman. Thank you for the helpful information.
awesome stuff , i still remember some random video you said something like “ you don’t value your life by the amount of zeros in your bank account “
awesome stuff man
you need tortillas too lol flour will fill you up fast. I have my interview tomorrow for the IBEW wish me luck.
how did it go ? I plan on doing the same .
Good luck! I hope IBEW does better by you than they've ever done by me. 40 years, absolutely nothing. They took my money though.
For me 20% of weekly checks go to savings and I PACK A LUNCH. Stay away from those roach coaches that roll up to the jobsite
Savings is good but consider putting some of that in the S&P 500 maybe in a mutual fund like VFINX
Yo I became a square and now I got 70 percent of my check going into savings, it sucks but its nice to have savings go up!
@@nonamesyoutube2610 Stupidest thing you can do is put money on the S&P when it's at it's record high. You buy on the dips and crashes.
@@TechieTard time in the market bests timing the market. What I would do is invest in broad index funds
One thing to watch is what the FED does with interest rates. If interest rates go up, look to buy a dip in some S&P fund. If the FED lowers interest rates, you can either buy right away or you can put the money elsewhere.
That being said, if you ever see interest rates at or very near zero and the S&P is still trending down, I would very much consider pulling all of your mutual funds and keeping that money as cash or put it into some other non-stock based investment. Especially when the S&P is at record highs like this.
When I'm on work mode, I live like a Spartan. When I'm off, I live like a Country Rockefeller.
Yup. If your not making money, then your usually spending it.
His service to his people never ended
Since you asked: I too was always broke. Not that I have a lot now, but at least there’s a several thousand dollar cushion. I applied a lot of what you talked about. Did a self-audit and looked at where my money was hemorrhaging to. Cut those fun things out and really focused on the long game. I was too broke for groceries but had gone to the bar several times that week. I told my self I’d never do that to myself again. For me it’s about deferring gratification, and eliminating recurring payments. Great video, dude.
Respect. I'm in a electrical trade school and right now going through schooling I'm broke as fuck cant wait to be financially stable
Hey thanks for making this, I'm currently an apprentice and ive noticed that alot of the apprentices around me have little to no education on how to budget or think financially. Awesome episode, hit many key points people overlook like eating out and how every dollar counts etc..
Will be sending others here 👍👍
Thank you my friend!
Niether does many pro athlethes have any financial education.
Look at what happened to Mike Tyson.
I agree 100%. Before I even watched this I was already on the Dave Ramsey plan. Glad to see you are too. As a young tradesman and bachelor I am in complete in control of my own money so I have nobody to lean on and nobody to blame when I mess up, but I have the freedom to do what I want with it. All I might add as a tradesman is to be very careful about buying tools. I often told myself my tools make me money so I'm willing to spend money on them. And that's largely true but now that I'm just a few years deep into my career I look right left and center at tradesman who have 20 or 30 years on me and I have far more and far better tools than some of them. And yet I still have debt. Those guys have done what they do for decades and do it well and don't have half the tools I have so I'm now questioning how much of this did I really need. The reality is that my tools are more valuable now than my house or my car. While I'm set for a long time on having tools to make me money I feel I personally overstepped a balance that could have allowed me to get out of debt sooner.
Austin Patrick Dave Ramsey’s plan should be required reading for everyone. If someone on here does not know who he is, do yourself a huge favor and research him and his methods. 👍
That's a hell of an insight my friend. I used to sock away $20 from each paycheck for tools too so I had something saved up when I needed something new. I also bought used early on and it worked for me for many years. My problem was breaking them or leaving them out to get stolen or rained on. Stupid waste of money
@@Journey2Master thanks for the reply! It's sort of necessity for me to have a ton of tools because I do plumbing electrical and carpentry all in the same job so I have to be ready for anything every day. Fortunately I haven't broken or lost many tools, I often have spent money on a tool I thought would be useful just to find out it was either superfluous or just junk. All in all I don't regret throwing all my money at tools (when I started this career I still lived at home and literally spent 80% of every paycheck on tools, up untill recently I was still spending 30% of income on tools) because they enable me to make money and as a bonus I get joy out of having and using them. I just wish I had waited on at least a dozen or so of them that I spent a lot of money on and barely use at this early stage in my career. If that money was spent on debt, I might be far less in debt and have paid less in interest meaning more money could go back to tools.
@@Journey2Master just lost a $12 bit in the mud. I was kicking myself all the way to the supply store that same day as I use that bit on every job. My tools are precious and I hate it when it's my fault
I loved this video! One thing that helped me a lot, was switching to cash. I take out the money I feel comfortable spending at the beginning of the week, and live within that. The amount I spent felt much more real to me when I physically handed people money, instead of sending it electronically. Plus, there are never any transaction fees for cash.
This is great too. I did the envelope system for a long time, it was all cash and I just divided up what I had into each envelope until I had enough to pay bills with. It worked well, but I very quickly moved on because dealing in only cash all the time has its downside as well.
What is the envelope method?
Great video. Something I've started doing somewhat recently is, no matter what, when I'm going to use or take money out of my checking account I check my account with the bank app just to make sure that nothing has happened to where I would have less money left than I though I had.
Knowledge and financial wisdom, soaking it up, thanks.
I've been watching your videos for a year. Finally about to take my entry exam to be an electrician apprentice through the ABC. thanks for these videos man they've helped. (Posted this same comment on "why you should be an electrician" because that was the first vid I saw)
Did you past your exam? I have orientation this Friday! Sounds pretty good
@@bobbylight51 yep! And I'm Working full time as an apprentice niw
Brayden Kamstra which “ABCSOCAL “ are you studying from? The only thing I don’t like is that they have guys on the waiting list to start working.
Brown bag it like a do everyday. And im a pretty good cook so that helps.
Awesome video.
My biggest impulse is buying Milwaukee tools. I’ve finally started to slow down and gain control over myself again
My mom does the same thing as what you advise. It has worked well for her. She is a great saver/wise spender. You’re on your on the correct track!
I went stupid when I first started making a decent wage. Bought all the dumb crap you can imagine. I’ve gotten much better now! Reporting and checking the accounts regularly helps keep you on track
I find this hard to do when living in CA right now, during sky high inflation, gas being almost $6, food prices up by like +40%, energy prices x2 or x3, car insurance increased, with other lingering bills, and union dues on top of a measly cw 1 wage of $14/hr...
Thank you for putting this video out. I feel like this is something that should be taught in schools rather than some othet things. Like you i learned the hard way about this and there are times that i dont always fallow it but the ground work is there.
"You don't need a steak dinner every night." It's true! But... I actually did that for a while. A grocery store had some sirloin steaks for $8/lb. I'd buy one, cut it into 3-4 steaks (each about 6 oz), and grill them up. Each steak ended up being about $4. Learning to cook means you can have some delicious, nutritious meals for a lot less money than eating out.
You the man buddy! Yeah I'm shot when it comes to money! Used to be good kinda fell off the deep end. This video is the beginning of me making repairs lol
Another great video for my son to see. Thanks for this information.
Definitely can relate to the buying breakfast and lunch point, I was on a job 4 years ago and I was the helper who got sent out to get the coffee/breakfast order and because of that the dude at the cart would hook me up with a coffee and a pastry on the house, and when I brought leftovers for lunch I'd never pay for food those days, I live in nyc so buying a $5 bacon egg and cheese plus a $3 slice for lunch 5 days a week can add up fast. I'd see dudes spend $40-$50 a week on breakfast and lunch lol
My first day as an apprentice is in a week and I had to buy tons of tools to even begin working. The total came out to $1,300 and I was able to finance it with my Amazon credit card with 0% APR for 18 months and $75 monthly payments.
You should also think of your finances as assets vs. liabilities.
Assets = something that will make you money in the future - YOUR TRADE, retirement account (maybe), small brokerage account
Liability = something that will cost you money in the future - Credit card / car loan / mortgage
Mortgage doesn't have to be a big liability though and it can even become an asset. If you're single and childless, consider renting out empty rooms in your house to roommates. All of you split the bill and your liability decreases substantially. It becomes an asset if you can rent it out for more than your mortgage payment and you have somewhere else to live or you live there.
As for a brokerage account, once you've saved up maybe $10,000 emergency fund, you can consider putting the next $5,000 in a brokerage account and either learn dividend investing or allow a robo advisor to invest for you. DON'T invest yourself unless you absolutely know what you're doing.
As for a retirement account, if you're not matched by your employer, I wouldn't worry about it. It's tax advantaged, but there are ridiculous penalties for touching it before you're 60. A regular brokerage account invested correctly is better in my opinion.
Your biggest asset is your trade. Learn everything you need to know to become a journeyman and then a master electrician. Once you're a master electrician a whole world of opportunity opens up.
Dustin it's been a while ! Glad to see you man awesome video
Thank you my friend!
@@Journey2Master no problem man you inspired me to get into the trade , and I can never repay you for that. I love learning about everything that my electrical teacher has to say. One word to sum it all up is great full
I love your channel I been an apprentice for a week now.
I work for minimum wage. I am still waiting to start my apprenticeship. I do have a bit of credit card debt too. But back in February I opened a savings certificate. I started setting aside money into it. Sometimes I’d just put $20 in it one month. Other times I was able to put up to $150 into it. But every paycheck I put SOMETHING into it. It’s now worth $850 after 5 months ish. Little numbers definitely add up.
My only regret is using credit cards. I would’ve had $850 to myself. But now I’ve got $850 to pay debt with… hoping to get out of this situation soon.
Appreciate this video 👍 Really needed this
Awesome video!
usually people who have money saved up have good saving habits. they put aside money every payday to go into savings. when they get a raise, they put proportionately more money into their savings.
conversely, people always broke, living paycheck to paycheck, dont put aside money. they stretch their means to the max. when these people get a pay raise, their spending goes up proportionately.
live below your means, (having a cheaper car or house than you can afford), and put money into your savings right after you get payed, every time you get payed.
so many people are chasing a higher standard of living. wanting a nicer car, wanting a nicer house. when they finally get that nicer car or nicer house, then what? they'll want the next best thing. its a never ending cycle. ive found that when you reach a higher standard of living, its cool and all at first, but you get used to it. ive realized if i try to spend a bunch of money to live a more luxurious life style, that new life style will become my new norm, and it'll feel exactly how it feels to live in my current modest life style. i make a decent living right now. i figured if i cant be content and happy with what i have now, it'll be no different if i tried to pump more money into my currently lifestyle.
Dustin! Great video man! Im an apprentice right now and your videos are so helpful 👍
You are absolutely right about money, but unless you have someone in your family to help educate you about money, you're up a creek, because you will not learn much about money in any school.
I had to teach myself what I know. I need to buy my first house, but not just any house. I need a two or better family property: Asset, not liability.
I have learned everything I know about money the hard way. No teachers.
Credit is good if you can get a 0% APR for 12+ months deal, you know what you're gonna buy, and you have the income to pay it off before the deal expires.
You can use the card for groceries and gas, but remember, you HAVE to have the income to pay it off before the deal expires.
A lot of those cards offer cash back on purchases, which make them slightly better than using your own money. Running a close to full balance might lower your credit score though.
Using and paying off the full balance monthly will increase your credit score.
I'm broke bc of my girl, Shes high maintenance..haha great video brotha I def need to work on some of those..lol cheers from California> LA
Thats sad homie get a new girl
You have a girl and live in Cali, that’s why you’re broke
So I’m a high school graduate; just graduated this week. I’m looking on getting into the electrician career. I know very little about it and was wondering if I need a A.S degree to become a apprentice for a journeyman or I can just become a apprentice if they accept me or how does this work.
No, just high school
I was gonna say you sound like Dave Ramsey and bam.. solid man 🤙🏽
Phenomenal!!
Awesome content as always!!!
Convert your monthly bills into Bi-weekly bills:
Open a low interest Line of Credit.
Switch all your monthly bill to come out this new LOC.
Then take all these monthly bills and multiply by 12 then divide by 26, take this amount and setup an automatic transfer from your checking to this new LOC every 2 weeks timed with your paycheck.
I only use my credit card when I'm making a bigger purchase, like prescriptions or tires or whatever. But within a few days we pay it back. Otherwise I don't use credit.
Dude! Your like the best peptalk for getting our Shit toghether ! About to finish ny education in telecom ! Apprenticeship up After exam this spring! Ty for the inspiration !
I like how you mentioned to answer the phone and talk it out with the debtors. That's sounds advice, and advice I wish I would have got when I was young. I was never taught about finances, and my parents were very bad examples. I stupidly racked up about $2500 in debt when I was 18 years old through the credit cards I got via predatory advertising. My first day of college there were credit card tables set up throughout the campus that gave you a free pen, or something stupid, if you signed up for their credit card. Of which I stupidly did...….and got them. Anyway.....my Mom told me to just not pick up the phone when they called for their payments. Long story short that debt doubled, and it took me maybe seven years to pay off from the time I finally picked up the phone to work things out. I was 30 years old before my credit score and history was good again. Just thought Id vent. Thanks.
I like these types of videos!! Keep them coming 👌🏽
God gives strength to control those impulses
Trying to get back to Austin, Texas and into the electrical trade but they all
want 1 year experience. It’s frustrating because I got my apprentice card and everything already. It’s definitely a catch 22.
Ya somebody with a little experience is definitely more attractive to a company than someone without. There are SO many companies in Austin, just keep trying my friend.
Good video man!
Thanks again for the content!
If you're 18 get a visa use it only to pay a regular bill. Pay it off every paycheck. Just to establish an oldest credit line.
Wonderful an real life video thanks!!!
Really enjoyed the video
Love your advises ..am young and will start doing d same as u bro ..do d same job as u aswell ..opened my mind
I have a egg in the morning a samwitch for lunch and sausage or pork chicken something of the sort for dinners
6 baby steps-Dave Ramsey 👌
If you’re broke then record and budget all expenses in an app like everydollar or AceBudget2 etc. You’ll find that $600 a month is going to eating out, more like $1,000 if you drink and smoke too. The other $300-$600 is your financed car you can’t afford. Pack your lunch and eat at home, drive the cheapest car that gets you to work. I’m currently investing $800 after tax WEEKLY of my 60 hour work week at age 31 into equities- Dave Ramsey is awesome 😊
Not an electrician, but this dudes positive encouragement should cost money. If he starts a cult im joining that shit
You can plan your spending or you can plan to make more money. And if you combine the two, now you're set.
Awesome!
Hey I’m pretty new to your channel but I like your work. I’m 19yrs old I know people in the trade however it’s my family who lives decently far. I’ve watched your apprenticeship videos and I’ve been busting my ass to apply and call places but either no one will get back to me or they’ll turn me down, because it’s sort of a need experience to get experience type deal. I live in Arkansas I know you said you live in TX but any help is appreciated
Thanks amigo!! I appreciate it for your video I also do the Dave Ramsey financial peace plan Iam on baby step 2 has a apprentice I also do budget plan
Awesome stuff isnt it?!
Brooo you should be my personal finance!
angelomma 21 this shit isn’t hard. most of this is common sense/from Dave Ramsey. learn to manage money on your own like this man and millions of others have.
Holy fuck I love this guy
I like your videos man. They are really interesting. I think I changed my mind about be an electrician for the time being. I can’t give up my job where I am now. I work with parrots and I love it. It don’t pay good and there are no benefits but I feel at home there and I can get by. So until something happens and I can’t work there anymore be it money problems or something that forces me to leave I think I will put the idea of being an electrician on the shelf. Thanks for all your advice though!
Pls keep up this! Watced all your Stuff! Pls share this
Also, don't drink alcohol heavily. Or just don't drink at all. It causes a lot of problems for people.
Start a garden. Seeds are way cheaper than produce. Buy heirloom seeds so you'll have more the next grow season. The shit you grow yourself will probably taste better and be better for you as well. God bless
Great video. However, pay your bills FIRST, buy your groceries, fill your gas tank, etc... THEN, you can put the rest away. Otherwise, you're always in arrears with bill collectors that hurts your credit
Hugh mark up already in everything regardless if buying on credit.
I had to watch this video after seeing rule number 1
#1 has got to be nearly every single thing someone spends there money on. I'm glad I've never been materialistic. Never had a problem saving. Those same fkrs that called me cheap now ask me for money because I have it and they don't! I say, sry...I'M BROKE! Phone..prepay, lunch...I make it, cable not thanks, direct tv not necessary, internet..I'll take that. End of the year, 20K+ NOT NEGATIVE!
Techno Tard future millionaire, you doing any index investing ?
Financing cars has kept me in debt all my life.
used cars
Stop then
I drive a 30 year old truck, and a 20 year old car. Truck was $1k, the car was $1600. I've hardly put anything in them, been driving them for almost 3 years now. The occasional thing - had to do brakes on the truck - couple hund. Had to do a little work on the car, couple hund ... peanuts compared to the cash I haven't spent making a bank rich.
Please make more videos :)
Two words "Dave Ramsey"!
Hey bubba how do you suggest about going about getting a vehichle i have bad credit right now because of childsupport my wife has no credit i wanna get some reliable and get my shit together. I just got a job 50 hrs a week ! But im stuck only riding my bicycle.
this guy i worked with told me the reason he bought a 50k new jeep is to get good credit when it is paid off in 8 years.... after he paid it off, he will be 33 with 0 dollars in the bank, and a heavily depreciate car, all I can say is buy assets not liabilities, if not sure what asset class to purchase, put your money into the highest interest saving you can find in your area.
Dave Ramsey the finance guy 🤙👍
Hey man, could you do a video on the differences between Union and Non-Union jobs? Super confused on whether I should just start going to local shops and applying or sign up for a Union apprenticeship program.
As a non-union 20-year master electrician go to the union I've watched my friends in the Union by multiple houses and Thrive with retirement I'm 38 years old still renting no retirement
@@anthonyamaro1771 Thanks for the heads up. It's appreciated.
Something I've been struggling with is that when I start getting ahead I have the tendency to let my frugality go out the window and end up fucking myself over.
I've been keeping at the front of my mind that wants do come before needs, but it all depends on what I actually want more combining with my ability to not let impulse buying get in the way of what I really want. If you want to not be broke you need to want the instant gratification frivolous spending less so.
Appreciate
Good shit
I wish I learned this shit before I had kids LOL
Hell yea CryptoCurrency never sell at a loss and you win... unless crypto falls for good for some reason. Definitely, start small like under 1000 closer to 100$ I made 232$ return and that's what got me interested in investing so I enrolled in (401K obviously) and my previous employers stock purchase plan, next step is a mutual fund, or maybe pull all my money back out and get addicted to opiates again. I left a 15$ hour job with no chance of advancement to pursue a career as an electrician, got my license, put in 2-week notice, got apprentice job, 1 hour in I get fired because I didn't mention my dismissed charges from years ago when they asked about convictions. so now I'm waiting for unemployment so I can see my doc before my meds run out and I die... no insurance = all money I make and barrow goes to my pharmacy.
If you are in Texas and not part of a well-connected criminal enterprise or know someone that knows an Electrician, then good luck getting a job with no experience. 47 interviews 12 days of work 282 applications and still no luck besides 12 days of shit temp agencies.
but I want to be an Electrician so I ask everyone I see what they do and if it's electrical I offer to do anything they want for free in the hopes of getting a job as an apprentice electrician.
fml sleeping outside with drugs was better than this but ill give it a few more months. construction all around me. but no 1-year experience = no job
like Ill suck peoples things for experience working as an electrician, they don't even have to pay me. fuck im glad I have a gun. Good luck everyone, get out of Texas if you can. And go to Mexico, Canada, Europe if you can. they have more jobs + you won't die because you don't have 100$ for the pharmacy. The US is just a joke to me now, first world? lol k bye fml
The only thing I disagree with is using mutual funds for your emergency savings. You need to be able to access your es quickly and without all the fees associated with withdrawing from a mutual fund. You just have to maintain the discipline not to use it on other things.
I was waiting for this comment lol. I agree 100% - Emergency funds should be liquid since in an emergency you need it NOW. However, for people that need to develop discipline, it is my opinion that they keep it a little less accessible until they get a handle on things.