Why I Stopped Spending Money | Economy Screwed

I stopped Spending Money, there’s a lot of stuff going on. We have a war, although no one is talking it anymore ( but that stuff is scary ), Inflation was like 9% this year, and interest rates just went up ( the average home went from being in the 200k-300k to now its almost 500k.

I mean my stock portfolio which Is as exciting as watching paint dry is looking like roller-coaster. Things are not looking good, so be worried but don’t forget. You can either make things happen or make excuses. So lets about this terrible economy and how do protect yourself at all times.

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1. We forget so much that we forget to remember

-You know many times I gotta remind myself not to forget I put my keys in my hands

-And then two seconds later I start looking for my keys like a mad man

-Here why I’m telling you this

This story has already happened and we know how it plays out:

-Inflation goes up and the fed raises rates to control it ( recession and depression are possibilities but unlikely )

-War is possibility but when the consequences is everyone loses the likely hood of anybody participating is low

-House get expensive and no one will ever afford them ( any body remember 2008)

-Stocks are so low and blah blah, just look back 10-20 years this happens all the time

My Point is:

-If you focus on the stuff that you can’t change it’s a great way to be miserable

-So focus on the things you can change and the things that benefit you

2. The scariest thing that can Happen is JOB LOSS

-This is serious because when fed raises and rates and it become more expensive to borrow money, businesses start to layoff employees and they stop hiring new help

-So imagine not having job and not being able to find a job, so although you hear about this Company laid off x amount of people and this and that

-Don’t forget about this statistics: 11Million jobs are open in the US

So do this to prepare yourself:

-Make sure you have money set aside to cover your bills for at least 3 month so you can find another job

-But don’t forget we have over 11million jobs, and while you find the job you want you can work another job

3. Paycheck to Paycheck Warning

-If all your money is going towards living you should terrified

-Because you need money to set yourself up for the future and you cant do that if you spend all on Rent, and your car

-So I stopped spending money to be able to invest money and set myself up for the future that’s the short answer

Advice: be proactive

-Make a budget, lose the deadweight and set yourself up for success

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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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