HOW TO STOP SPENDING FOR GOOD!

So let’s break the ice, I grew up in a household where if I didn’t finish my rice, beans and chicken I was told there was a kid starving, and that my neighbors were struggling but my friend told me they told him the same thing to get him to finish the food.

You have three types of mindset, first cheap( scarcity mindset ), frugal ( mindful Spending ), and third overconsumption ( Mindless spending ). And a lot of us are actually on the list of mindless spending and we are guilt driving. So, for the most part we spend a small amount of time being ultra-cheap, and that lasts about 2 weeks maybe a month or two, and you feel like you deserve a break and you go into mindless spending.

😎Call Me😎: https://bit.ly/30IBr0i

😎Second Channel😎: https://bit.ly/3c4sVPS

👨🏽‍💻Financial Freedom Course👨🏽‍💻$100 OFF CODE: LONGTERM
Link: https://longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom

💰MY M1 FINANCE PORTFOLIO💰 PLUS $10
Link: https://m1.finance/37SHd4241z-N

1. The cheap person ( scarcity mindset person )

Usually this mindset has one big flaw, and it’s the only way they think you can save more money and make more money is by spending less and having less bills

But there is limit, because you can only lower your bills so much, their a ceiling on it

But you can increase your income a lot (there is no ceiling on it ) although its not easy to do

So, living on this extreme believe it or not:

Is not as hard as you think, because you tend to justify everything

I saw a man, who had a proper job and investment account in the hundreds of thousands and for his wife anniversary

He got her birthday decorations because they were on discount

I also a wife, who made the entire family count the amount of toilet paper pages they used ( so only 2 per service )



So this is not good and its not what you want ( its hard to convert from this to frugal )

A lot of people go from spending a lot and they end up here, so you want to be very careful



2. Mindless Mindset (overconsumption )

This is one of the worth extremes, because mindless spending is not just spending your money but also usually you get into spending other people money

Let me explain some of the characteristics to describe a person like this are

Fancy, think deserve the best in life, life is to short, Yolo and they tend to use the words its only and I can pay it off



So the problem here is:

These people tend to live above paycheck to paycheck which is scary

Because from the outside they seem to have more than they actually have

And again its not an income thing, you go to hood and you see a guy making $15 an hour but his wearing a Gucci belt that cost him 20 hours of work

You see a lady who's always looking like she's on a run way, while she's in a ton of credit card debt



This is one of the scariest mindsets:

Because it can be so hard to fix and tramatising

That a lot of these end up becoming cheap or scasity people



3. Mindful Mindset ( frugal )

You understand you have Needs, you understand you have wants and you understand there are some you can fulfill and other you have to wait to fulfill

Its that simple

So these are the people that go to the store and they see something they want, they say I cant afford it right, 2 month later you see them with it, and they tell you I saved up for it



These people usually:

Save about 20-50% of their income and live on 50-70% of their income

They tend to have jobs that they appreciate, they don’t make a ton of money but they understand investment can help grow their income

They find a balance between wants and needs
* PRO TIP*
INFORMATION IS EVERYTHING
💲1 on 1 Talk + My Budget + Stock Investments💲
https://www.patreon.com/tommybryson

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

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

💰M1 FINANCE $10💰
https://m1.finance/37SHd4241z-N

🎁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/EcZEHpA

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

✔ Help Us Reach 500,000 Subscribers: https://goo.gl/0wvm6w

😎All My Social Media😎
Link: https://linktr.ee/tommybryson

*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 STOP SPENDING FOR GOOD! канала TommyBryson