Why You Should Always Be Broke

I think I saved my first 10k when I was 19 or 20 or something like that, and my friends would always say, Tommy you are always broke. But they didn’t know that I had 10 times more than the average American.

But I liked it, I like being broke; because broke to me means “ Not having money without a purpose and not spending beyond the purpose “. So for example, when I friends asked me, why didn’t you buy a Tesla, why Toyota Prius, oh I’m broke, I have the cash but I don’t have enough to put 50k on a vehicle that’s going to burn my money in the skies.

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1. Some people have some crazy ideas that wouldn’t be lose my mind

-Increase your expenses so you have to make more money

-Spend all the money by the end of the year so you’re forced to make more money

-Lock up in all your money so you are forced to do something

Let me tell you something

-If I had no money at all, I would be walking in anxiety 24/7

-It’s ridiculous

-I get the intention but in the real world you can end up losing it all

2. How do you be Broke

-My strategy is simple, just give every dollars a name and purpose

-And don’t spend beyond that

-So in some sense you wont be able to afford many things, but that’s okay ( let them call you broke )

Here are the 6 jobs:

-Emergencies

-Investments

-Debt

-Expenses

-Fun

-Charity

Give each one of those an appropriate percentage for you, and focus on these goals, debt free, emergency building, investing and home payoff and then enjoy and investing ( in that order )

3. Here is a Little automation System that use to make this possible

-Have separate bank account for different purposes

-And have everything that can be automated be automatic

Fore example:

-I get pad inside one account

-That money is then divided into several pieces of the pie

One Account: Home stuff

Second Account: Fun stuff

Third: Automatically money is invested

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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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