How To Maximize Saving The Most Money On A Low Income

My grandma has never made more than $1000 a month, she owns 3 properties debt free, 2 of which pay her rental income each month and she raised 10 kids. She is really frugal, saves a lot of money and the best part is, she is a simple person. Ontop of all that, she cant even read but she can count.

So in this video, I’m going to share with you guys some of the lessons that I took away from my grandma, and hopefully you use them to save you money.

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Start with What you Have

People think that tyhey can only save money when they make more money

But what usually happens is, your expense rise to your new income if you don’t control yourself

And to practice control, you have to start with what you have



Simple Rule: Live on 70-90% of your income

Look over all your bills and cut out all the ones you don’t need

Then look over the big 4, shelter, utilities, groceries and transportation

Try to save the most money their also



Here is an example:

Where you are buying or renting, consider a short commute for saving money or even a migrating somewhere else

A 2 bedroom apartment cost $5,000 a month in New York city, in the bronx 2400 and in Connecticut $1500

Instread trying to save money on cofee each month you could move and save thousands every month



Lazy Money Dies, Employed Money make more Money

When you first start saving money most people just like seeing that money pile get biggers and almost 80% of people end up spending that money on nonsense like I did too lol

So its important you understand, that you have to give money a purpose

Some money is going to be used to stash, some to make more money and some to clear up the debts and so on



6 jobs for money and 4 priorities ( course has the full plan )

Emergencies, Investments, Debt, Expenses, Fun and Charity ( Jobs )

Pay off debt, Save for emergencies, Focus on investing and paying a home, lastly keep investing ( priorities )

When you get paid you should be using the extra money for one of these roles



Why:

I’ve been debt free 100% now for like 6 months ( owning no money is awesome and it removes so much friction )

Emergency account are important for emergencies obviously

Investment and debt free home is too

Continued investing, increase your long-term income and your odds of success



Some Tips to Save Money

Buy what you need until you can buy what you want

Money is powerful tool but the price is high ( don’t waste your hours to use that tool for none sense )

Watch videos on Techniques to save more Money ( laundry, to all around cool strategies )



When I first started:

I used envelopes

I bought my cloths at good will

I bought everything used

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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.

Видео How To Maximize Saving The Most Money On A Low Income канала TommyBryson