A Guide to Frugal Living: How To Save More Money

Hey guys, what’s good, and I hope everything is well. I feel like I’ve been a little disconnected from you guys, so I decided to go back into the basics. Frugal living, saving money and financial freedom.

So you guys ready read the title, this is guide to frugal living in order to save money for whatever you want. Whether its to move to a new apartment, emergency fund, retirement, wedding or even a down payment.

And when I made that switch I always saved before I spend, 5 years later, I manage to save a lot money, almost a half a million dollars. I don’t say that to make myself look cool, but to tell you that if a random kid from the Bronx, grew up with a single mom, who wasn’t a Einstein was able to do it, then you can to.

😎Call Me😎: https://bit.ly/30IBr0i

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

💲1 on 1 Talk + My Budget + Stock Investments💲
https://www.patreon.com/tommybryson

💰MY M1 FINANCE PORTFOLIO💰 PLUS $10
Link: https://m1.finance/fQsrul1PZcHM

Chapters
0:00 Intro
2:49 1. Self-Awareness
7:56 2. Needs Vs. Wants
13:08 What Do I Do With This?
18:08 Outro

1. Self-Awareness
- My definition, is making the unknown known to yourself
- For example: I use spend $1000 on liabilities when I was 19 per month on average, but because it wasn’t all once I didn’t think it was a problem
- Until I started writing down every time I spend money and looking back at my transactions

So here is a Tip for Financial Self-Awareness:
- With your Phone, Journal or piece of paper
- Write down every time you spend money or think about spending money
- Why? Im not a child and this is going to get boring very quickly.

I read this Book called Power of habit:
- He says a habit has a Trigger, Behavior and then reward
- For example, my stomach is feel empty ( trigger), I eat food ( behavior) , and I don’t feel hungry and I get energy ( reward )
- And not all habits are good, or a lot of wouldn’t be as chubby as we are

Tip: Do this for at least 66days to make a habit, and then eventually you wont need it, because it’ll be apart of you.

2. Needs vs Wants ( labeling )
- You can do this together with number 1, and just put a label on all your spending
- For example: I legit thought when I was 19, that I needed at least 2 new pairs of sneakers per month. But looking back I know that was a want.
- So a need is something you need to survive/live, and a want is something you don’t need to survive or live ( but that doesn’t mean you should have a few wants to spend money on, after all its okay to enjoy your hard work in a responsible way)

So here is a Simple Rule For Labeling: There are 4 Walls to a budget ( aka the real needs )
- Shelter: 33% rule
- Utilities : Gas, electric, water, phone bill, internet
- Groceries: $200 per person rule
- Transportation: Maintence, Insrunace, gas ( pay cash for the car, if you have a financed one pay it off faster or sell it )
- Bonus: Health Care and Life insurance

Advice on what to do with This Information:
- Make sure these are between 50-70% of your income and no more ( the lower the better )
- Use the extra money savings in this order: pay off debt, Save for emergencies, Invest for retirement-whole you buy a house and it off early, and then enjoy
- But on your way its okay to take 5% of your income to have fun and make the experience sweet.

3. Closing:
- I want to say thank you for watching this video but before I go I have to warn you
- People think saving money is cool, but remember investing and increasing your income is what’s really important
- The goal is to enjoy life in a responsible way ( I don’t want to here stories about you saying money on mouth wash or not showering )

* PRO TIP*
INFORMATION IS EVERYTHING

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

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

💰M1 FINANCE $10💰
Link: https://m1.finance/fQsrul1PZcHM

🎁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 A Guide to Frugal Living: How To Save More Money канала TommyBryson