Top 5 Money Lies Keeping You Broke
8.8 هزار بار بازدید -
ماه قبل
-
Money lies are especially dangerous
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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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.
💲Patreon Exclusive💲
Patreon: tommybryson
😎Call Me😎: https://bit.ly/30IBr0i
😎Second Channel😎: https://bit.ly/3c4sVPS
👨🏽💻Financial Freedom Course👨🏽💻$100 OFF CODE: LONGTERM
Link: https://longtermteam.teachable.com/p/...
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
* PRO TIP*
INFORMATION IS EVERYTHING
💲Patreon Exclusive💲
Patreon: tommybryson
👕Merch👕
https://teespring.com/stores/tommybryson
✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬
🎁ACORN FREE $5🎁
Link: https://acorns.com/invite/38EYSU
⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9
👨🏽💻DISCORD PRIVATE GROUP👨🏽💻
Discord: discord
My Camera Gear: https://www.amazon.com/shop/tommybryson
✔ Help Us Reach 600,000 Subscribers: https://goo.gl/0wvm6w
😎All My Social Media😎
Link: https://linktr.ee/tommybryson
*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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