How Can I Invest Money Only Making $15/hour?!

One thing I realized when I was 19 years old was that I was asking the wrong questions. If you clicked on this video, the question is, “how can I invest in a low income”. And that one question is loaded with a lot of other questions and also answers about the person asking it. ( I’m not saying your wrong, but I’m saying I remember when I didn’t even know the right questions to ask )

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The right Questions ( only 2 questions)
- How can I manage my money currently
- And how can I increase my income

Answer the First One: Manage my Current Money
- You do this with a budget ( a budget will set you free )
- And you can add what you like to the budget to make you like it
- Every budget just has 4 walls | Shelter, Utilities, Groceries and transportation
- So those are the main 4 expenses and everything out of that is just things that you added or want
- The budget I used was the Simple Budget, that created in college after reading a little over 100 books

How it works: you give your money 6 jobs
- #1: Emergency Fund aka Protection: Save $1000 fast and put it into this account – I like to keep separate so I don’t use it accidentally ( but the real goal is to have 3-6 months of emergencies)

- #2: Investments aka help my money grow: two types of investments internal and external, for you guys that are making $15, your investments will be internal – meaning licenses, trade jobs, degrees, courses, books, spend your money on knowledge so you can make more money ( once you have a skill that pays well you can focus on external like stocks, real estate, and side hustles to make passive income )

- #3: Debt aka Free Yourself: If you have debt your focus should be on eliminating it first and not really investing ( unless you can go trade job for next to free) – use the avalanche method, and pay every debt except the mortgage

- #4: expenses aka the cost of being alive: Shelter, Utilities, groceries, and transport: if your expenses are over 50-70% you have to cut back, if it's over 90% you got a problem, and you have to cut back.

- #5 Fun aka balance your life: when you getting rid of debt and building freedom, all you need is a taste of fun ( so 1% of your income, but once you free you can spend as much as you want )

- #6 Charity aka give back: I know a lot of broke Christians and its not because all their money to the lord but its because they lack money managing skills. So if you are Christian you at your 10% here but if your not just add 1%.

What I did was: every time I got a paycheck, I would put my money into these envelopes.

Answering the Second Q: Increase my income
- 28% of people make less than $15 an hour ( that means 72% aren’t, so you want to get on that side )
- When I was in college I only had skills for minimum wage jobs, when I graduated I had a skill for a 70k position as an accounting
- It comes down to skills you acquire ( College, Trade jobs, Business owner, and a lot more )

Recommend One Book to You:
- The richest man In Babylon

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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.

[bonesrangel]

Thanks man I live in my car for 6 months now and I just became an electrician. I wake up everyday at 4am and they are going to pay for my entire schooling. I’m gonna apply for a grant to buy some tools or maybe find some used tools. I want to read more as well so that I can improve myself.

It’s hard sometimes cause pet of me wants to think we’re floating in a space rock and we’re all gonna die so fuck it i mine as well enjoy my life but part of me is also like if I live till I’m 50 I’d like to not have to do back breaking work and fight for basic needs and survival when I’m old.

[kieylo]

Thank you for this break down. It was really helpful.

[EyesCold]

All depends on where u live tbh. Alabama. Is very low cost of living. U can buy a nice house debt free if u budget properly making $15 an hour. In california or New York. Your probably struggling. Just thought I’d add that in there

[joslueight]

Tommy I swear you always come in clutch!! It’s like your a mind reader man, every time I have a thought it’s like boom YouTube notification hits me up Tommy Bryson how to invest for beginners/ how to invest making minimum wage, you’re the king of how to videos and I don’t mean it the wrong way I appreciate every thing you do for us with these videos man!!

[Mistyfgdf]

Hopefully $100k inside my swing trade portfolio by the end of the year
At that point do 10% trades once a month and that’s $120k a year
Basically retire at that time (age 18) 😂

Ironically my new job I make $15 an hour.

But I would not retire, Id be doing those 10% trades and putting profits into dividend stocks to build that safety net/ best egg

[tradingcareer]

I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability

[am]

Can you add closed captions… couldn’t get everything you are saying and the info is very good so don’t want to miss anything

[shanissantos]

My dream job is no job. I dream of a lifestyle where I can do whatever work I want to (helping others) without getting paid for it because I already make the money that I need to live a comfortable life and give my future kids a comfortable life.

[Iato]

This video dropped on my bday, I guess it’s a sign I needed to hear this

[yahirsegura]

I wanna have at least 15k saved by the end of the year. I am 17

[FunnyBONE]

The most expensive thing I bought & couldnt afford was, I payed for a $950 Cruise for me & my GF... I had no car and was living w/ parents @ the time 😩

[bishopclarke]

i want to have 5k saved by the end of the year with a net worth of at least 10k (ill be 20 by the end of the year)

[paddrickstar]

Thank you for your nice positive videos!

[vampcaff]

Invest in your self and you'll make more money.

[am]

Are you saying “wealth front”? I can’t make that part out

[lauraserrano]

I want to wake up one morning and find out that my portfolio is $1, 000, 000 . I know it’s possible

[Tony_Black]

My dream job is to be a programmer or a Project Manager.

[Cal_Stonehoof]

Dream Job? Not really sure, certainly wouldn't mind doing something like YouTube or Twitch, but I know that market is saturated, and probably always will be. There are people that are making fantastic content, and have invested in themselves, but aren't seeing a return, because there is too much competition.

I just want to be in a place where I don't have to work as much, so I can spend time with my wife, and enjoy life, rather than working myself into an early grave.

[the-mg]

What do you think about Vanguard Information Technology ETF (VGT)

[mdgeeeLOVELY]

I couldn't really hear or understand the app Tommy says he uses. can you repeat that please? what app was it?