Now I know most people think that the reason they live paycheck to paycheck is because they don’t make enough money. The truth is that it’s not true.

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1. Eliminate excuses
- it's not your income
- it’s not your expenses
- its not the economy
- its not your luck
- the problem is you

Once that clicks: I want something else to click
- It’s not only, money in and money out
- It’s also the way you think and the way you choose to live

So here are a few things you want to do
- don’t wait to make more money

The risk:
- Margin is the edge or the border or something
- The more margin you have the safer you are and the less margin you have the more risk you have
- So when you live a financial life where are paycheck to paycheck you have no margin of safety
- without any money, you can be ruined

Here is an example
- you’re in a car with no seat belt, on the highway going 90 miles an hour and you have knife sticking out of the steaming wheel
- You have no margin for error
- If you make one mistake you will be history

2. There are benefits to Saying No
- spending less than you earn
- Say no to getting debt

3. You spend too much
- the average American spends $1500 a month on non essentials

Here is a list of non essentials

Restaurant meals
$209.38
Drinks
$188.68
Takeout or delivery
$177.88
Buying lunch
$173.62
Impulse purchases
$108.97
Rideshares
$96.11
Personal grooming
$94.25
Subscription boxes
$93.96
Cable
$90.57
Online shopping
$84.11
Gym classes or memberships
$72.53
Paid apps
$23.24
TV or movie streaming services
$23.09
Music streaming services
$22.41
Coffee
$20.25
Bottled water
$17.47

Can you imagine if someone just saved that much money for 5 years and invested it
- In 5 years you would have 120k at a 10 return
- And if you never invested again after that and left the money to itself for 20 years
- You would have 813k

4. Be drastic and swift
- I had the money to payoff my student loan debt and kept thinking about
- I grabbed the money and invested during Covid
- And then I had it again and use to buy a hip use
- And then finally I had the money

I paid it off without giving myself room to think
- you have to make radical decisions that you know make sense immediately sometimes

Here are some more examples
- selling your car
- Selling your sneaker collections

5. In the end to make sure you don’t live paycheck to paycheck you just need to do one thing
- Pay attention because I’ll take you on this journey

First:

The answer is:
- spend less than you make
- To spend less than you make you need to track every single dollar you make and every single dollar you spend
- To track everything you’ll need a budget
- To have a good budget, you need to your needs and your wants and make no exceptions for things you don’t need

Now what you do with the extra money
- is going to be super important

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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.