3 ways to go broke fast

Nothing is by Accident even going broke, so in this video, I’ll tell you 3 things that cause people to go broke and how to avoid them.

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1. Living Beyond their means
– the entire idea is that slowly but surely a lot of people get into more and more debt or for example they start to add more and more bills to their plates
– and if you start with earning a lot of money but your bills become higher than your income, then you are essentially living paycheck to paycheck and that’s never a good thing
– The best way to end that is by creating a budget and following it

Full Financial Plan Video:
link: https://www.youtube.com/watch?v=iaAAoPIZf4o

2. Not investing and Speculating
– You have to create multiple sources of income and one easy way to that is to invest in index funds and ETFs
– however, you don’t want to get carried away by risking your money in individual stocks, when you don’t know what you’re doing
– you have to be intentional with your goals and where you are going.

How to start investing:
Basics link: https://www.youtube.com/watch?v=uB9efvy7A4M&t=845s
How to invest $1000: https://www.youtube.com/watch?v=kWwhJ0Oos2c

3. Not having a plan and a goal
– if you don’t know where you want to go
– I guarantee you won’t get their

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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.

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