Top 5 Money Lies Keeping You Broke
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- Опубліковано 2 чер 2024
- Money lies are especially dangerous because they can cost you decades. Imagine one mistake that cost you 10 years, it’s like a prison sentence.
And we tend to say, we have been lied to, and that’s partially true. But at a certain point, we start lying to ourselves and then we start lying to others, and since we believe those lies, it's easier to convince other people.
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1. you afford the monthly payment
- no look at the sticker price
- how do you get someone to buy a $2,000 dollar foam
- you give them low payments and good terms
that’s how they got me:
- I bought a mattress for 2000 dollars and it was a twin mattress and they gave me a free pillow and 0% interest (it is still bad )
The same logic goes with cars:
- I can afford a $500 car payment for 5 years ( are you stupid)
- When you can just save up 3k and buy a used Toyota or Honda
- And in 5 years have invested 30k or paid of 30k in debt
2. Its free money with credit cards
- I had 13 credit cards
- I got 300 and 500-dollar bonus
- I got cards that gave me 2 to even 5% cash back
- I got cards that gave me 18 months to pay things off
Truth is:
- I can’t recall any of the stuff I bought
- But I can tell you that 95% of everything I bought was garbage and things that I did not need
- I also spent more money than I would
No free lunches, no hands out, and this is a business ( when you play with snakes, even if you are a snake handler eventually you will get bitten )
- You can believe me or not
- But you won't be in your 50s talking about credit card points making you rich
3. It's an investment ( buying something like a house that’s beyond your budget )
- Yeah I bought a $400,000 house but it is an investment
- Yeah, I bought this car but it is an investment
- Yeah it’s a $1000 iphone but it's an investment
An investment is Something :
- That makes you an appropriate return without risking your capital to much
- A house costs you money
- A car costs you money and goes down in value
- An iphone I won't even go into detail
Not everything you buy in life has to be an investment, but the things you invest into must be investments
- Buy a home you can pay off in 15 years or less
- But a car you can pay for in cash
- Buy a phone will help you lower your screen time and keep your wallet bigger
4. You gotta spend money to make money ( true but not like that )
- Every year I go broke, and I’m left with $0 In my pocket
- I invest everything I have
- And that’s paid off big (until the day that It doesn’t)
Making money:
- Is about putting money to work, and treating it like an employee
- Give an employee an impossible task ( no matter your conviction or motivation, he can't do it )
- Give an employee a task below his level, and you can't expect much from him
- How your money performs says a lot more about you than about it
5. The rich get richer and the poor get poor ( progression and regression graph -
- Is that true, it's not; we live in a country where almost 80% of all millionaires are first-generation
- Means they didn't inherit their wealth, they made it
- So poor to rich and now richer, beucase what made them rich will make them more rich
You just have to know what they did
- And then do it
- Just know they are in their 50s
- These things take time
6. Just use leverage to buy assets and have assets pay for your liabilities
7. Don’t Build a Family they are expensive
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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.
Was always used to having money, had a nice car and now I’m broke. My dad and stepmom both passed away a couple years ago so I spent a lot of my money to help with my depression(nice things, feel good items and experiences) and it did help with my depression, for the time. After a while now I’m almost 30 with no car, was unemployed for a while so had no money coming in so went broke and now I’m starting back to save and get back on track as I just got back a new job. I think I can do it with the discipline, I just need time and money saving strategies. I’m looking forward to see how much I can actually save in a year or two
"Some people are so poor that all they have is money." ~Bob Marley
Over time a home appreciates in its value and you know this
Money is good energy
Thanks for this video‼️
So what’s your solution or alternatives to credit cards since they’re so bad?
Love the content man, life's a trip I've been told. You stay consistent with your ideas I appreciate the effort💪🏽💯
I heard you guys have a pole in every barbershop is that true?
I tried building a family and the woman took my daughter away from me
So now…I am focused on doing things that I don’t need a woman to do such as investing in my own future through various apps etc
Most people cannot purchase a car in full. Very few can. I bought a car and paid it off in a little over a year. I would say that I was able to afford it.
This video just got me through the day
My guy from the X Wash Heights, kingsbridge Dyckman A Train 😅 The Bronx wants you back my guy, you should run for office 💪, the latino community can you a Guy like you, shout to the Dominican day parades. Platano bananas.😊
He is too frugal to run.
Bro why you tripping lmao
😂😂😂
@@amgooder He would need to buy expensive shirts.
@@shaunlindsey5132to stay poor like you, while you dress designer on minimum wage 😂
Fuck the bronx and nyc is a shit hole
🔥🔥🔥
Homes are great investments
I don't invest in Satan's world. As 1 John 5:19 says....😊😊😊
well Psalms 24:1-2 New King James Version (NKJV)
The earth is the LORD's, and all its fullness, The world and those who dwell therein. For He has founded it upon the seas, And established it upon the waters.
@@TheOnlyWayYeshua best thing to do is to spiritually invest 👌🏽🙏🏽
Interesting, but this video forgot to mention the most powerful project - UNIMANTIC PROTOCOL
You so saucy 😘