Now I know most people think that the reason they live paycheck to paycheck is because they don’t make enough money. The truth is that it’s not true.

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1. Eliminate excuses
it's not your income
it’s not your expenses
its not the economy
its not your luck
the problem is you

Once that clicks: I want something else to click
It’s not only, money in and money out
It’s also the way you think and the way you choose to live

So here are a few things you want to do
don’t wait to make more money

The risk:
Margin is the edge or the border or something
The more margin you have the safer you are and the less margin you have the more risk you have
So when you live a financial life where are paycheck to paycheck you have no margin of safety
without any money, you can be ruined

Here is an example
you’re in a car with no seat belt, on the highway going 90 miles an hour and you have knife sticking out of the steaming wheel
You have no margin for error
If you make one mistake you will be history

2. There are benefits to Saying No
spending less than you earn
Say no to getting debt

3. You spend too much
the average American spends $1500 a month on non essentials

Here is a list of non essentials

Restaurant meals
$209.38
Drinks
$188.68
Takeout or delivery
$177.88
Buying lunch
$173.62
Impulse purchases
$108.97
Rideshares
$96.11
Personal grooming
$94.25
Subscription boxes
$93.96
Cable
$90.57
Online shopping
$84.11
Gym classes or memberships
$72.53
Paid apps
$23.24
TV or movie streaming services
$23.09
Music streaming services
$22.41
Coffee
$20.25
Bottled water
$17.47

Can you imagine if someone just saved that much money for 5 years and invested it
In 5 years you would have 120k at a 10 return
And if you never invested again after that and left the money to itself for 20 years
You would have 813k

4. Be drastic and swift
I had the money to payoff my student loan debt and kept thinking about
I grabbed the money and invested during Covid
And then I had it again and use to buy a hip use
And then finally I had the money

I paid it off without giving myself room to think
you have to make radical decisions that you know make sense immediately sometimes

Here are some more examples
selling your car
Selling your sneaker collections

5. In the end to make sure you don’t live paycheck to paycheck you just need to do one thing
Pay attention because I’ll take you on this journey

First:

The answer is:
spend less than you make
To spend less than you make you need to track every single dollar you make and every single dollar you spend
To track everything you’ll need a budget
To have a good budget, you need to your needs and your wants and make no exceptions for things you don’t need

Now what you do with the extra money
is going to be super important

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.