Uploaded May 2024 | Updated September 2026, 2 weeks ago
Budgeting allowed me to payoff about 70k in debt, build a 6-figure investment account, and get my spending down to less than $1,000 per month. That’s the power of a good budget.
💲Patreon Exclusive💲
patreon.com/tommybryson
😎Call Me😎: bit.ly/30IBr0i
😎Second Channel😎: bit.ly/3c4sVPS
👨🏽💻Financial Freedom Course👨🏽💻$100 OFF CODE: LONGTERM
Link: longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom
1. The Things on a Budget that everyone has
- These are the cost of living that everyone will have
- Unless they live at home with their parents
- Which is okay honestly and its something to take advantage off
First Income:
- How much do you make
- Type of Income
- Time traded for income
- Let's say I have three sources of Income ( so I don’t get robbed by showing my real numbers )
Office Job:
- Income: $4,000 dollars Per month
- Type Of Income: Active Income, have to trade Time for Money
- Time: 160 hours a month or 40 hours a week
Stocks:
- Income: $500 dollars per month
- Type of Income: Passive
- Capital at work: $75,000 with a 8% return
- Time Savings: 240 hours I don’t have to work
Real-estate Investing
- I have one apartment that I paid $60,000 for
- It makes me 250 dollars a month or $3,000 a year (6% return)
- That’s 120 hours I don’t have to work
Total Income is: $57,000 a Year
Second Expenses:
Shelter Cost:
- $1,500 dollars on mortgage, a home on 15 year mortgage Cost $200,000
Utilities: $500
- Water
- Electricity
- Gas
- Internet
- Phone bill
Food Bill $500
- Cooking at Home
Transportation $300
- Gas
- Insurance
- Maintenance
- No a car payment
Total Expenses: $2,800
2. The custom things you can add
Personal: $300 ( fun, subscriptions, and misc ).
Left Over: $900 in savings
3. The different goals ( Less needs less money less time ( payoff house, no debt, and so on )
Remember Time is Money:
- Because you trade time for money
- So on your budget Let's run the numbers on a Time basis and see how you can save more time
Shelter: $1,500 ( if I use my $900 left over to dumb into this property )
- I could be done with the property in 7 years
- So instead 60 hours of work on a house
- I would be spending $200 between ( insurance and taxes ) – 8 hours
Food: an option is to grow your own food but that takes a lot of work and a person who may want to homestead and not everyone is down with that
- So this pretty much stays the same
Utilities:
- You can save money by becoming energy efficient but again that can be expensive
- So let’s keep it the same
Transpo:
- Public transport or biking
- But most likely you’ll keep your car
So How to get back those hours from those expenses:
- You get them back by investing more money
- $900 for 7 years got 60 hours each month you don’t have to work
- You keep investing, and then you can make supplemental income to cover those cost
- The goal should be, to get your Passive income to cover your expenses ( so you don’t need to trade time for money )
* PRO TIP*
INFORMATION IS EVERYTHING
💲Patreon Exclusive💲
patreon.com/tommybryson
👕Merch👕
teespring.com/stores/tommybryson
✅2 FREE AUDIOBOOKS✅
amzn.to/2Enayo8¬¬¬
🎁ACORN FREE $5🎁
Link: acorns.com/invite/38EYSU
⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: amzn.to/2VGbxt9
👨🏽💻DISCORD PRIVATE GROUP👨🏽💻
discord.gg/EcZEHpA
My Camera Gear: amazon.com/shop/tommybryson
✔ Help Us Reach 600,000 Subscribers: goo.gl/0wvm6w
😎All My Social Media😎
Link: https://linktr.ee/tommybryson ---
Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.
Budgeting allowed me to payoff about 70k in debt, build a 6-figure investment account, and get my spending down to less than $1,000 per month. That’s the power of a good budget.
💲Patreon Exclusive💲
patreon.com/tommybryson
😎Call Me😎: bit.ly/30IBr0i
😎Second Channel😎: bit.ly/3c4sVPS
👨🏽💻Financial Freedom Course👨🏽💻$100 OFF CODE: LONGTERM
Link: longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom
1. The Things on a Budget that everyone has
- These are the cost of living that everyone will have
- Unless they live at home with their parents
- Which is okay honestly and its something to take advantage off
First Income:
- How much do you make
- Type of Income
- Time traded for income
- Let's say I have three sources of Income ( so I don’t get robbed by showing my real numbers )
Office Job:
- Income: $4,000 dollars Per month
- Type Of Income: Active Income, have to trade Time for Money
- Time: 160 hours a month or 40 hours a week
Stocks:
- Income: $500 dollars per month
- Type of Income: Passive
- Capital at work: $75,000 with a 8% return
- Time Savings: 240 hours I don’t have to work
Real-estate Investing
- I have one apartment that I paid $60,000 for
- It makes me 250 dollars a month or $3,000 a year (6% return)
- That’s 120 hours I don’t have to work
Total Income is: $57,000 a Year
Second Expenses:
Shelter Cost:
- $1,500 dollars on mortgage, a home on 15 year mortgage Cost $200,000
Utilities: $500
- Water
- Electricity
- Gas
- Internet
- Phone bill
Food Bill $500
- Cooking at Home
Transportation $300
- Gas
- Insurance
- Maintenance
- No a car payment
Total Expenses: $2,800
2. The custom things you can add
Personal: $300 ( fun, subscriptions, and misc ).
Left Over: $900 in savings
3. The different goals ( Less needs less money less time ( payoff house, no debt, and so on )
Remember Time is Money:
- Because you trade time for money
- So on your budget Let's run the numbers on a Time basis and see how you can save more time
Shelter: $1,500 ( if I use my $900 left over to dumb into this property )
- I could be done with the property in 7 years
- So instead 60 hours of work on a house
- I would be spending $200 between ( insurance and taxes ) – 8 hours
Food: an option is to grow your own food but that takes a lot of work and a person who may want to homestead and not everyone is down with that
- So this pretty much stays the same
Utilities:
- You can save money by becoming energy efficient but again that can be expensive
- So let’s keep it the same
Transpo:
- Public transport or biking
- But most likely you’ll keep your car
So How to get back those hours from those expenses:
- You get them back by investing more money
- $900 for 7 years got 60 hours each month you don’t have to work
- You keep investing, and then you can make supplemental income to cover those cost
- The goal should be, to get your Passive income to cover your expenses ( so you don’t need to trade time for money )
* PRO TIP*
INFORMATION IS EVERYTHING
💲Patreon Exclusive💲
patreon.com/tommybryson
👕Merch👕
teespring.com/stores/tommybryson
✅2 FREE AUDIOBOOKS✅
amzn.to/2Enayo8¬¬¬
🎁ACORN FREE $5🎁
Link: acorns.com/invite/38EYSU
⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: amzn.to/2VGbxt9
👨🏽💻DISCORD PRIVATE GROUP👨🏽💻
discord.gg/EcZEHpA
My Camera Gear: amazon.com/shop/tommybryson
✔ Help Us Reach 600,000 Subscribers: goo.gl/0wvm6w
😎All My Social Media😎
Link: https://linktr.ee/tommybryson ---
Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.
