I started when I was making 60 dollars a week, and now, because of this budget, I’m almost making 10k a month and spend less than 5% of my income on my expenses, how to save money and create a budget.

Now in this video, I’m going to teach you a secret budget that allows you to save money and also have fun at the same time. So you can still buy that Car you want or even all the Starbucks coffee also. All while saving money and investing. So Make sure you stick around to the end of the video, to find out how can you can do all this stuff with an easy budget.

Why Do I Budget:
People say budget restrict you but not having a budget made my life 10x harder. I got into a credit card, I couldn’t afford even to take my girlfriend on a date and I didn’t have a penny in investments. But I did have a closet filled with around 5k-9.7k in sneakers and clothing.

How it works:
Life has around 6 categories, so I created a budget that uses all does categories to bring you a perfect balance.

First Steps?
1. Once I realize I had a problem ( I started reading books)
2. I started saving but I wasn’t investing
3. I created a budget by using everything learned from all does books? I call it the “Simple Budget”

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%: https://www.youtube.com/watch?v=dJXgdzxxdw0

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: https://www.youtube.com/watch?v=U4RLWIxubYg

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: https://www.youtube.com/watch?v=3I_Ua2soB6A

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

Final Thoughts: Notice this
If you made it this far, here's what happened
- The moment I realize that everything I bought was with time, was the moment I change my attitude towards money.
- Example: I remember working for 8.40 cents an hour and spending my money on cloths, but then I said, Is this sneaker worth the 30 hours it took me to make the money. And more the often the answer was no.
- I started when I was earning $60 a week and had around a negative income. Theirs no excuse.


* PRO TIP*
INFORMATION IS EVERYTHING

👕Merch👕
https://teespring.com/stores/tommybryson

✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬

🎁ACORN FREE $5🎁
Link: https://acorns.com/invite/38EYSU

⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9

👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻
https://discord.gg/eX4u9N2

My Camera Gear: https://amazon.com/shop/tommybryson

✔ Help Us Reach 10,000 Subscribers: https://goo.gl/0wvm6w

Social Media~

Facebook: https://www.facebook.com/tommybryson.yt
Twitter: https://twitter.com/TommyBrysonVlog
Instagram: https://www.instagram.com/tommybryson
Snapchat: tommy28fly