How To Lower Your Bills Like The Rich

When you talk to someone that’s truly wealthy and financially free, they to be very simple people but also not normal in what they do. And that’s to be expected because they are achieving something that the average person does not achieve

So in this video, by the end of it, you will know the 5 things i noticed about rich people that they tend to do to lower their bills and it’s not ( shower once a day, recycle toilet paper or any of that cheap stuff you on reality tv)

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1. They Budget

-how to lower something without tracking it an knowing what you spend money on

-I use to make x and spend x and not know where the heck i was spending it at

-Do the first thing to money on your bills is track it and categories it

Simple Budget:

-how much comes in

-How much goes out and on what

-How much do you want it to be ( then think how you can go about it )

Example:

-I make 2k per month and i spend 2k per month

-I want to save at least 20% of my income

-So what are those things that i can save money on in my budget

2. Focus on Needs and Not wants ( treat Sales, and offers as attack on your financial future )

-Something in life you only understand once you live it, read it or see it

-It’s better sometimes to read and believe than it is to live and belief trust me on that one

-Warren Buffet said once : price doesn’t always determine value ( and that means that the shoes that go for 100 and the shoes that go for 50 might be of equal quality but you pay a premium for the others brand )

Here is a Quick excessive to save you thousands

-take note of all your expenses, from cable to phone bill to even your choice of butter

-And google alternative services that are cheaper

-When I did this i saved thousands, not more T-Mobile instead mint ( that saved 55 a month )

-No more subscriptions instead books ( that saved me money and time )

3. Lower the Small Bills but Don’t forget the Big Bills

-I don’t like using this term but it’s true, some people only focus on $3 dollar questions

-How do i stop spending money on Starbucks when they spend half their income on their rent, you have to learn to have priorities and think big

-How do i save only on my car insurance when your car payment is $700

Rich people Know the main Big Bills and Focus on eliminating thing

-Credit Cards: avg balance is $6000

-Student Loans: avg balance is $30k

-Car Loans: avg payment is $700

-Mortgage: avg payoff is

Now check this out:

-No credit Card Debt

-No Student loan debt

-No Car loan

-Payoff mortgage in 10-15 years instead 30 years

4. Stop Paying your Bills

-how do you this without going to jail

-The answer is have your investment pay them for you

-If you focus on having very little bills then you can eventually have your investment pay them for you

Imagine this:

-stock market passive income $500 per month

-Real estate passive income $1000 per month

-Business income $1000 bucks per month

My point is this:

-focus on how to have your money work for you and then your money can work to pay your bills

5. They Spend Money to Lower their bills

-spending money on Courses
-Spending money on Books
-Just learn and educate your self

If any of this stuff sounds interesting

-try to get involved but before you do buy a few book on the topics and get the knowledge first and apply it on a small scale

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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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