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how do you start saving money and increasing your income when you literally have a minimum-wage job now personally you guys from personal experience I can tell you this I started saving money when I was making literally $60 every single week now there's a likely chance you probably make more money than I did back then but on top of that I was also making a negative income meaning I was spending more money than I actually made on a weekly basis now I want to clarify something I managed to create a budget that took me from making $60 a week and having a negative income to making around almost $10,000 a month net and literally spending less than five percent of my income on expenses so if you want to find out exactly how I managed to do this make sure you stick around to this video so you can actually find out by the way it's very easy to follow I'm not that smart anyone out there can probably do this like a hundred percent guarantee and my main thing is this guys it's not about how much money you make it's about how much money you keep and if you don't know how to keep your money by creating a budget then you probably won't get to where you want to get to now this budget allows you to spend money save money have fun so you're still gonna be able to buy that car you want or buy Starbucks on a daily base whatever you want to do okay it's gonna allow you to do what you want always saving money and invest in money so if you want to find out exactly how to do all this stuff make sure you stick around to the video now on top like I see you guys don't know me my name is tiny Bryson I'm an accountant and I upload videos on YouTube every single day yes I said daily content so makes you subscribe and clarification box we get notified every time I upload a new video because literally every single day on top of that very excited to learn how to take control over your life hit the like button do me a favor it really helps us channel out a ton and I want to ask you one question how much money do you want to have saved up by the end of the year yes I know is 2019 and the years about to finish in like six months but I still want to ask you how much money do you want to have saved up by the end of the year and comment down below also why do you want to save that money it's very important to have a powerful why because if you don't have a powerful why then the likely chance of you actually accomplishing your goal is very slim that's why some new people save money but then all of a sudden do you spend all the money at once so comment down below and let me know - not your comment - the first time when I clarify is Tommy why do you budget your money the answer is this I budget my money well initially when I started budgeting I thought that hey having a budget means that have no control I have contraindicated ooh but the answer is this really I didn't have any control when I didn't have a budget because I couldn't do what I wanted to do because I never had money left over and I never saved money never invested money I never did anything I really had to do with my money and having a budget gave me control over my life and I probably action at this point Tommy how does this budget work and how it'll differently from all the other bunch that I see out there and the answer is this my budget it's called a simple budget for a reason but it works like this right it separates your life in six categories and those six categories you actually put your income inside of those six categories for example I have six accounts and one of them is called emergencies investments debts expenses fund money and also guess what charity now if you follow this budget exactly I'm telling you you'll be able to have money for all these six categories and still have money to have fun and do whatever you want to do whenever you want to do it it probably asked me Tommy how did you get this idea and the answer is this it's really not really my idea by myself I just did a lot of research a little on a reading and then I found out this method and I said like okay I like this I like data like this but I want to put it all together and be able to spend money on whatever I want whenever I want and I won't freedom to do whatever I want so I created this budget that allows me to do every single thing that I want to do on a weekly basis and still be able to save money and increase my income from sixty dollars a week to almost ten thousand dollars a month which is pretty good if you ask me now I want you guys to comment down below would this be the first time you actually have a budget or have you tried a budget in the past it didn't really work for you comment down below and let me know so not to comment it I want to jump into the video and tell you exactly how this budget actually works and all you need is literally three things to get started number one you don't understand how much money you make versus how much money you spend so write down all your expenses on one side and all your income on the other side for most of you guys you're not you just have like one way of making money which is fine and you have a lot of bills once you have the stuff on paper it will help to organize everything in your head the same thing you need is this guy's right you do understand how to do math and it's called percentages so for example if you're gonna have 100 dollars to make every single week they need to understand how to make how'd I get 10% of that money and put it away so for example if you don't know how to do math at all just go on google and type in percentage calculator and then that way you can do it from online easy right but we have a calculator just put in 100 you put in x point 10 percent or x 10 percent and they'll give you the answer just like that the third thing you need is this guys you need around the third thing you need is this guys you need around six envelopes to actually start saving your money into it now why do I prefer envelopes rather than bank accounts because for the first month you have to build the habits and you have to have a tangible place to actually put all your money because again you might have all your money in a bank and you might be doing everything like on the phone but in reality with all these automatic expenses by the end of the day you might not have any money left because oh my gosh you just took some money here oh my god spend more money with my debit card or my credit card I didn't notice you know well having everything in the tangible place it's much much better now that you have all those things set up I want to tell you exactly how this budget actually works now this budget is broken down into six different accounts now the reason is broken down in six accounts is because your financial life is really only made out of six accounts now here's the exact order your money should be going into these accounts every single time you get paid the first one is this emergencies second one is investments third one is debts fourth winner is expenses fifth one is fun and the last one is charity in that exact order now you probably asked me Tommy how much money do I actually put into these accounts every single time I get paid now you're in luck because I'm about to break down everything right now so now the first account is emergencies so every time you get paid you're gonna put money into your emergency envelope now how much money do I need to put in here Tommy the answer is this no less than 10% so minimum is tempor so if you make $1 every single week you put in 10 cents we make our dollars you put in $10 doesn't matter it's 10% of all your weekly income or where we get paid you put it into this account now Tommy for how long am I gonna be able to build up this entire emergency fund the answer is this only about six months of all your living expenses so for example if you were to lose your job and you can't pay rent you have to be able to have at least six months of all your expenses in one envelope now once you get pretty advanced you start building the habits you can open up a separate high-yield savings accounts probably with like waterfronts and have your money there sitting down just in case any emergency does happen all while not losing any money on inflation because every single year inflation hits you and you're losing money just by saving money in an envelope but you need to build up the entire routine and habits first before you start putting your money away in a bank account now the second thing is this guys and by the way guys for my emergency fund when I first started I started with like around 20 dollars a week I was deposited into the account and all my friends laughed at me by the end of the year I had around $2,000 something like that because my income kept increasing and all my friends had around $0 so don't worry about what anybody else is doing worry about what you're doing that's all that's important okay now the second account is this investments and it's by far my favorites this accounts it's for the sole purpose of investing all your money and it's all about making more money now how much money do I put in here Tommy between ten to twenty percent right now I'm investing around fifty percent of all my income and I'm like forty percent actually you know forty percent of all my income goes into investment now how do I do it Tommy basically I recommend you do three things with this account you start building business income passive income and also like long term income so for example what I do is this most of my money I invest it into my business first because it gives me a high return and then I invest it to into the markets right into the market like the stock market and I use acorns because it helps me create a balanced portfolio but I have a link for everything I'm saying in description down below so don't worry about it so just go down there after this video just gonna like keep track of everything now the third thing is this long-term investments I also have an account that's made for building a reserve of money so I can actually purchase real estates for example I put money into ETFs like the stock market then I put money into my business and then I also put money into my long-term investment accounts for real estate right those are three different types of investments that are very diverse so buy this one account is responsible for all three of those investments so anywhere between 10 to 20 percent should be perfect now you don't to be like me even Leary used to like the stock market but I recommend start building assets and if you don't know how to build assets or like buy real estate then I recommend you invest in yourself first like buying books taking courses those are all investing you can use all the money to actually invest in yourself and get a return on your investment through education so just do that my first investment guys honestly were books I bought a lot of books a lot of courses and because I bought all that stuff I got to this point right now so investments give you a return back and again you cannot invest into something you don't know so someone tells you like hey invest all your mind into Bitcoin don't do it that's not a real investment it's too risky you don't understand it so put your money into things that are guaranteed to get you or return back okay be very realistic with everything now the third accounts is debts most of the people in America have problems with debts the old credit card debt around like six thousand dollars I think and it's a lot okay Sal ah so I recommend anywhere between 10 to around 30% even 40% depending on what situation you're actually going through so for example right now when I first started this by the way guys I was doing around like 50% of my money instead of my debt account okay but now I do around 40% because one I owe a lot of money to I don't pay any interest and three that money that I owe makes me a ton of money every single week because this investment debt okay it's not bad debt so if you have bad debt like just credit cards you bought a Rolex when you bought a car or you buy something you can't afford use this account to pay down as quickly as possible so you won't have to pay a ton of interest on it so again it's between 10 to 40 even 50 percent dependent on your situation now I have to say this guy's your goal is to get this accounts literally to zero or to a percentage where you only paint off your debt on good investment so things are gonna get you money back so it's kinda like an investment accounts after you start doing things correctly now here's the fourth accounts where everybody struggles its expenses everyone focuses so much and expenses and again it's food and bills only things that you really need so when you write down all your expenses you're gonna have to decide hey this is a want this is a need I need food to live I need Internet to live which is like you know realistic now and I need rent to actually live anything beyond that is just a want you don't need Netflix you don't need Hulu you don't need any of that stuff okay so just get rid of it and by the way if you have an unlimited plan with AT&T and it turns you around like $110 then switch to t-mobile and you get $60.00 for your entire plan okay doesn't matter just cut off all the bills you possibly can so my expenses right now or around 5% I know something for a fact this is not realistic something that I managed to builds because I've done a lot of work but you're probably gonna start around maybe between like 20 to 50% of all your income is gonna go into expenses okay and that's fine but you just have to understand hey I need to limit how much money I'm spending or you need to make more money and until you make more money you need to limit how much money you spend so right now I'm a 5% the highest I've ever been is around 30% okay so I managed to put my Inc I mean my expenses down by a lot now my fifth and in favorite accounts that everyone loves everybody spends all their money on is the fun account now this account is responsible for me having fun going on dates buying things from Amazon that I definitely don't need paying for Hulu paying for Netflix a whole bunch of things I just like having okay and I like having air pot so I buy things like this with my phone accounts okay now this account needs around between five all the way up to 20% max and if you can't buy what you want with 20% of your income every single week then you save it up and then you buy it whenever you can buy because you can't afford it and if you can't buy it still because you want a Lamborghini or you want this like fancy car think it's what happens you need to increase your income by a lot of money so my fun account is my favorite one and by the way there's one rule to this account you need to spend the money every single week why because a lot of people out there they don't spend any money to save all their money and then once a year they go crazy and spend all their money out of nowhere okay why because they don't have any balance so every single week I spend money for my fun account and that brings balance into my life so one of the most important accounts believe it or not now the six accounts is actually charity again no one has ever gone broke by giving money away I recommend giving away anywhere between 1 to 10 percent of your income to someone that's in need now me personally I live in New York and we have a problem here where by the way I know I shouldn't care about this but this is how I personally like I'm gonna lie I started going around my neighborhood and every week I would go around to a supermarket and the person in front of me I would buy their food then I can entire like groceries ok and the smiler would get it would be incredible ok and it made my heart very happy and that's my way of doing charity by the way yes you can deduct this from the taxes completely legal so you can do that just have all the receipts and everything like that you can prove it but it's one of my favourite accounts and no one that I've ever meant in my life has gone broke from giving money away and again guys I want to clarify everything all the links are in my description down below I have links on investments I have links on paying your credit card debts I have links on making more money I have links on getting a good savings account I have links on everything in description down below so make sure you check that out after the video on top I want to say this guy's is this the first time you're actually seeing a budget that works like this you think it's a good idea I think it's a bad idea because again I made this up myself and I kind of want to create an entire program go into full detail and how everything really works and my investing tactics and my goals and all that stuff and I wanna make a full program on this but I want to know guys do you think this actually works you want to try it and I know it works ok because I've had my friends and I do out there go from literally a negative net worth to earning around like more money than I make now ok so you'd be surprised about how much money people actually make once they start using this entire budget and saving a ton of money I had a friend that couldn't afford to go to school because he couldn't pay for it and after you started implementing this budget he had money to go to school take his girlfriend on dates and everything he wanted to do and plus still have a savings okay so it's all about managing everything so comment down below if you think this is a good budget and you actually want to try again it's called a simple budget let me if you want to see a course on it and guys if you made it this far into the video I want to tell you a secret that most people that stopped watching at this point won't really know and the answer is this Tommy when did you actually start budgeting and why did you start budgeting and what made you actually change the way you were now before I became this person that wears like one t-shirt every single day well and makes like $10,000 obviously but before I got to this point I was spending every single ounce every single dollar that I made on sneakers on clothes on dates on doing whatever I wanted to do whenever I wanted to okay and then we had zero dollars and here's when everything's changed I started looking at money not as currency but as time so when I used to buy sneakers like this for like around $400 by the way I would never pay $40 for a sneaker anymore I got this one for free from a very good friend of mine so thank you so much if you're watching this video but here's my thing I used to buy sneakers like this for like 400 bucks 500 bucks and I started doing math I said you know what I'm not spending currency on spending time because I used to work for around eight dollars to fifty cents an hour and to spend $40 on a shoe it would literally take me around like 48 or 45 hours to actually make that money so I would say like hey am I really willing to spend 45 hours of my time on a shoe and then I would say no I'm not willing so I would just stop that and I didn't spend any more money on things that I didn't need because again money became less of a currency but it became more of time for me and the last thing I want to leave you guys with before I should leave this video is this I started this budget when I was making $60 a week and I couldn't afford to take my girlfriend out for ice cream okay it was that bad so there's no excuse whatsoever for you to get started at all and I was like 19 or like 18 I can't even remember okay and I managed to go from that to make it almost $10,000 net every single month so if I could do it literally anyone could possibly do it I'm not smart I'm not crazy crazy okay I'm not special you can do it too and on top of that guys before you leave this video I want you to do something comment down below your income your expenses and those like six accounts that I give you and how much money gonna be directed to all this thing's right now why I'm asking you to put all your public information here because I want you to leave this video with all the work already done once you have all the work done I'll comment on your your entire thing and I said okay this is good this is bad fix this or fix that or if you don't want to do that just DM me on Instagram a Tommy Bryson and we'll go over it together again guys as always thing for us to but if you like the video go ahead and like the video it really helps the channel out a ton on table guys who like the video go ahead and subscribe in case you get notified every time I post a video once again is every single day and if you want to talk to me one-on-one or ask me any questions I answer all my DM so you can DM me on instagram @ Tommy Bryson and if you want to talk to all of us in the channel go join us on discord link in description down below but again only 100 spots are open once those 100 spots are full we're not gonna open it again until 2020 so get it while you still can before it's too late I'll see you guys next time thanks for watching and [Music]