What Poor People Don't Know About Money

Рет қаралды 7,880

Күн бұрын

Пікірлер: 92

@TommyBryson Ай бұрын

Here is some embarrasing math i want to share with you guys. When I was making $8.75 an hour, here were some of my purchases and how time they cost me Sneakers: - Price: $200 - Time: 22 hours of my time Playstation 4: - Price: $300 - Time I spent Playing: 2 hours daily ( $350 per month ) - Cost of Time Per Year: 514 hours of my life Commute: - 3 hours Daily - $26.25 per day What I learned was, material things are often not worth the money and minimum wage works is terrible and should not be done long term.

@DuoMaxwell007 6 сағат бұрын

@TommyBryson yes minimum wage work IS terrible i would agree. But it's not like people can just go out and get a job paying $30 an hour instead. I dont think anyone would CHOOSE to work at Walmart if they had other options

@TommyBryson 5 сағат бұрын

@@DuoMaxwell007 Thats a Good Point, however you can be somewhere for awhile and be in preparation for another job. But many people just stay in a job like that for years, and at that point it's a choice.

@DuoMaxwell007 4 сағат бұрын

@@TommyBryson then I would ask... How would they get that preparation? Go to school? SO now they have to juggle school, work and sleep (which isnt an excuse people CAN definitely do that), however the problem is school costs money, and Walmart isnt paying enough for that. So thats not really an option for many. Also what about people who are physically or mentally incapable to learn the skills required to do those jobs? I dont means mentally incapable as in theyre mentally challenged or "special needs" I mean someone who has average human level intellect, smart enough to pass high school at the every least but the job/classes for the other job are too hard for them. For example my grandma is not an idiot but I doubt she could learn to program a computer no matter whos class she sat in. So minimum wage is the ONLY option for those people, do they not deserve to be able to afford a small apartment and pay their own bills? Lastly, I mad 3 TIMES what the minimum wage in my state is, you wold think thats plenty of money, but nope even making 3 TIMES that amount I couldnt afford to live in a house/apartment plus all the other expenses that come with it, by myself. Thats a problem. So yeah the cost of living is the real issue here, not the jobs and what they pay.

@TommyBryson 3 сағат бұрын

@@DuoMaxwell007 Men Solve problems with the resources they have available to them. If you become a victim and all you see is no way to get things done, that will be your reality. It takes work to accomplish goals. Programming and all those fancy jobs are not the only options, brother. Good luck.

@DuoMaxwell007 2 сағат бұрын

@TommyBryson youre right men DO solve problems with the resources available to them, and if those resources are limited then sometimes the solution to those problem is doing thats that might not be nice, right, or legal to ensure you have a roof over your head and food on the table. So according to you that is a viable solution as it's better than making excuses and playing victim. Do WHATEVER you have to do to get the job done, right?

@dnah02 Ай бұрын

I love looking normal I blend in with the regular middle class people who are not wearing anything fancy. I drive a toyota highlander I love it and its going to be paid off on October 9. I dont have anything flashy like jewelry but my investments are stacking in the background. Soon enough I will have my small 0 % interest debt paid off in Q1 of 2025.

@GymWithJaz Ай бұрын

This ✨

@TommyBryson Ай бұрын

Step by step 😎🙏

@Ty_The_Spectacular Ай бұрын

Glad to hear that 😁!

@gina468 Ай бұрын

You are so right. I added a third job to my life a few months ago, really for no reason. I was miserable, I felt so much better when I quit. Work-life balance is very important.

@TommyBryson Ай бұрын

Yeah, sometimes it's best to level up skills than just add more work to trade for time. Example, learning a new skill on the side, while working normal hours. In a few months or year or two, you can quit that one and get paid more for your time somewhere else.

@JMC.LifeMastery Ай бұрын

Excelente explicación . Thank you ! I agree 100. Take away - poverty = lack of money management. I am debt free. Need to invest in shelter - you gave me good suggestions

@TommyBryson Ай бұрын

It's big to be debt free these days, it's almost like everyone starts off with a negative networth these days

@janellcaldwell Ай бұрын

Thanks my KZbin financial advisor! Great reads for me to dive into and also pay off my debts! I’m tired of being indebted to many lenders! Another good one Tommy B 🎉❤

@TommyBryson Ай бұрын

You are so welcome and enjoy the reading 😎🙌

@annaahmed2564 13 күн бұрын

You are soo right Thomas's thanks for sharing keep up good work.

@thedigitalcitizen275 Ай бұрын

I thought I was gonna lose my time on this video. Thank you for the value

@TommyBryson Ай бұрын

glad to hear that

@oyedread Ай бұрын

Been watching your shows for a long time... Didn't recognize you bro, but that's a great thing...

@TommyBryson Ай бұрын

lol thanks bro, time flies

@ms.shelia5737 Ай бұрын

Haven’t seen you in while❤Im 61 and really enjoy your content 🙏🏾

@TommyBryson Ай бұрын

welcome back!!

@slidersgaming Ай бұрын

Ngl bro you answer so many questions I have in My Life I just want to say I appreciate you 💯!

@TommyBryson Ай бұрын

Glad I could help bro 🙌

@annaahmed2564 Ай бұрын

Ism really loved your content it make sense to me thanks for sharing keep up good work.

@TommyBryson Ай бұрын

That's the goal, that it makes sense and you can understand it. 😎

@patriciadennis850 Ай бұрын

Tommy, its been a while, love the new look and your financial advise is always gold

@TommyBryson Ай бұрын

Thank you 🙌🙌 and the look is temporary, I got a challenge going on right now

@patriciadennis850 Ай бұрын

@@TommyBryson It fits you

@alexandermarcus7646 Ай бұрын

Great job hermano!!

@TommyBryson Ай бұрын

Gracias Brother

@AhnisGameroom Ай бұрын

It was easy to do this when I had a job and roommate. After the roommate left and I lost my job all this advice is null and void at the moment

@TommyBryson Ай бұрын

It’s why it’s so important to make moves without being reliant on another party. It may make more sense to rent a room than to be the lease holder. Or to get a smaller place

@FamouszMusic Ай бұрын

Thanks!

@TommyBryson Ай бұрын

🙏

@AhnisGameroom Ай бұрын

What he’s saying makes sense. I just wish the economy didn’t make it so hard to get a head start. I don’t spend money on junk. I don’t have the extra money to do so or will it help me. The economy is just messed up and theses 9-5 jobs don’t pay enough

@TommyBryson Ай бұрын

9-5 pay enough, the type of job you get has a lot to do with it. But having no job can be temporary, just got to get back out there and get another job. If the pay is not that great, then time to upgrade skills or change jobs. Keep your cost of living low

@JoeDoe1 Ай бұрын

Thank you. I like your long format videos

@TommyBryson Ай бұрын

Glad you like them! More on the way

@blessedbygod3430 Ай бұрын

Yes! You CAN buy a house for 💯 cash. It may be a fixer upper but yes you can do so. You can live in it as you are fixing it.

@TommyBryson Ай бұрын

So true! But most people are not willing, I had to experiment that process but only moved after it was fixed

@stevewatchesvideos Ай бұрын

Can you please make a video about how to use vanguard, I'm interested in that.

@TommyBryson Ай бұрын

It's like signing up for Facebook, ypu put in the information. From their they help ypu with the process via a tutorial. 🙌

@stevewatchesvideos Ай бұрын

@@TommyBryson Thank You

@iwantosavemoney Ай бұрын

This is huge time is your most valuable asset no matter what

@TommyBryson Ай бұрын

Exactly. Getting minimum wage for it is not good, and getting more money that we need is so not good. Time for money is never an even trade, just one we have to make

@dnah02 Ай бұрын

If we have to pay taxes on a home do we really own it or are we just renting the land under the home?

@Kite166 Ай бұрын

No one truly owns anything, but that's not an excuse to not try. One day we will all die, we don't even own our bodies....it will go back to earth when you pass

@TommyBryson Ай бұрын

We own it but we all have an agreement that we have to pay taxes. In a way it's a good thing, if you ever come to a country where that isn't done, you see alot of issues with social works. Taxes are appropriate in some ways

@Tavi-u4x Ай бұрын

👍Excellent! I've been away for awhile BUT I see your maturity Growth! Your content educational and informative! I agree💯 Its NOT your car when the repo man comes Its NOT your home just cause you dont rent In my opinion spending money does not give you freedom but debt! Broke people care what people think Impressing Rich people spend quietly modest without being flashy with spotlight attention I dress down No debt to my name Retire early June 2021 Now 56 Paid my dues 30 years Emergency fund 10K credit card BUT balance 2% Live a quiet simple modest life Wake up with purpose direction with a PLAN! Freedom is having money available when you need it!

@TommyBryson Ай бұрын

Very nice 😎 Only thing we are different on is keeping the credit card as you know. That's what it's all about, living below your means, so you actually "Live".

@dnah02 Ай бұрын

40 min video nice

@TommyBryson Ай бұрын

Thanks, wanted to pack it with value

@dnah02 Ай бұрын

@@TommyBryson I am all for the longer form videos that way I can get some knowledge while I multi task.

@Student-kv2oy Ай бұрын

I genuinely want to know this, I’m almost debt free & im also military retired at 27 so I don’t have to work anymore for the rest of my life. The thing I’m conflicted on is when it comes to paying a car off, what if you get into a car accident & the car you invested so much in is now totaled….how do I make my money work for me around this. This is why I never rushed to paying off cars I invested in

@TommyBryson Ай бұрын

first, cars are not investments, they are like stoves and toaster, we buy them for utility not to make money back. Second, its why its so important to buy used cars that are reliable at a good discount of 50-60% off MSRP. Third, you have insurance. Example: 2019 Toyota Rav4 Retail was 29.5k Today: 20k you can buy one (33% off) You Drive the Car and take care of it until it cost more money to repair it than the value of the car. If you get into an accident, you should have insurance, to help with some of the cost, then you just buy another one. The cheapest was to own a car is to buy used, and drive it for as long as possible

@sweetandsimple. Ай бұрын

I see the new look. I'm assuming you're doing an experiment?

@TommyBryson Ай бұрын

Yup, should be revealing sooner than later

@michaeld2356 Ай бұрын

People do treat you different. Guess what? No one will ask to borrow any money looking broke.

@tharpeaddy Ай бұрын

When I first went to California I was like so this so this is what the rich life looks like You see rich people vehicles Al over the place lol I’m Arkansas it’s extremely rare to see anything above a bmw or a dodge charger

@TommyBryson Ай бұрын

Yup, I had the same feeling. But the truth is, all we know about those folks is that they no longer have that 50-80k they spend on the vehical. Also, it could just be a lease

@dnah02 Ай бұрын

Whenever we talk about the house situation I think I may just rent and invest like a mad man.

@TommyBryson Ай бұрын

You have to be careful with that idea, you have to think about also potential job loss and investments loosing value. Here is an example: - You work and invest the bulk of your money - if you lose your job and the market crashes at the same time. You'll be in trouble because you'll still be responsible for rent payments. I see two solutions for this issue, well three. One is to have some money in good quality bonds, second to have some cash on hand and third having a paid off home to lower the overhead of living.

@vesthaduval5202 Ай бұрын

❤❤❤

@TommyBryson Ай бұрын

😎🙌

@thisisaname9104 Ай бұрын

Okay, so I genuinely want help. I can't motivate myself to work unless I enjoy my work. Mental health issues suck. I also have an addictive personality, so my money just flies out of my hand. How do I not be such a mess?

@TommyBryson Ай бұрын

Habits are key, replacing bad ones with good ones. Notice that the jobs you once wanted and you got, eventually you just get use to it, and even the things you buy " that inicial buzz always goes away". I recommend you retrain your mind, alot of what we know are just learn bad habits. You can start by reading, and listing to audio books. Replacing all your leisure time with quality content in a way. This will reprogram your brain, you'll start to replace your old ideas with new ones. Be careful calling yourseof a victim and making excuses. "You are not your thoughts, but you are what you think about ." - Dale Carnegie

@timchavis9420 Ай бұрын

Tommy looks different every video

@TommyBryson Ай бұрын

Lol seems like it for sure but it's me not a clone

@IamTaleeaLee Ай бұрын

✨💵💰💲

@TommyBryson Ай бұрын

😎🙌

@project.dfilms423 Ай бұрын

👍🏻🇩🇴

@TommyBryson Ай бұрын

😎

@madant22 Ай бұрын

At the same time you gotta choose a major a trade or and skill your capable of doing. Because everyone wants a high paying job, but can you do that job. Are you capable of learning and mastering that skill. That’s what you gotta look at as well. It’s not only about hating and liking a job. Some people don’t have high paying jobs because they’re not capable of doing that skill on a high level. Every one is not a nerd but everyone with some help can invest. I would say that.

@TommyBryson Ай бұрын

I would agree and at the same time disagree. Agree with its not just about a high paying job, because I wouldn't trade 8 years of life to go to school and come out with a bunch of debt to work a high paying job. Disagree on the idea that not everyone is a nerd, we are all nerds on the things we focus on. We k ow to much about garbage, like tc characters and cars and all that other stuff ( it's because we focus on that). If we try to learn a hard skill with the same intensity it can be done. Example: For the life of ngest time I thought coding was for the gifting, turns out it's just for the people that dedicate time to learn it. Sure some people have an easier time than others but their are still levels to it that many can manage and make high incomes from. Ps. A high paying job doesn't have to be 100k, heck it could be 40k, it just depends on the time you are trading and the amount you get to keep