My Paycheck Money Budget Routine (Do This When You Get Paid)

Everybody says the first 1M is the hardest but I think the first 10k is the hardest, because everyone can get to 1k when they get paid but 10k is hard enough but not to hard to make it real challenge.

So just like everybody on the internet has a morning routine, I have paycheck routine or ritual or habit. It's what I did back then and I do now to make sure my money is not wasted. So watch this video and use these techniques to get you to your 10k and when you get their send me a DM I want to hear about it.

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1. Baseline aka Budget:

-One big mistake I made when I first started doing this was

-I would take all my money basically and say I was saving it and then obviously I would need money and dip into my savings

-And before I knew it, I wouldn’t have anything left or I would spend more that I needed to ( I remember back then a need to me was buying a pair sneakers a week, I did it for 23 weeks until I figured out it wasn’t a need )

Baseline: is the amount of money you can Live on Comfortably and maintain it without any problems

-Apartment or Mortgage: For me its $300 a month ( great rule is no more that 33% of your Money ) for me I set aside 3-5% for this

-Utilities: Lights, Water, Gas , Phone Bill, Internet, gym and Health insurance: for me it's $313 .75 ( I cancelled subscriptions, negotiated phone bills and got high deductible health plan to save money )

-Groceries: I spend about $300 a month here also ( don’t cut here first, if you wanna save start at the top with where you live first )

-Transportation: Gas, car wash I spend and insurance I spend $76.67 (having a paid off car, used and reliable helps even if your car year start with a 1)

My base Line is like $1,005.42 ( so first thing I take when I get paid is $1005.42

-If you get paid weekly, bi-weekly or monthly take that money first

-That’s the money you need to live

-If money is left over here what you do next ( if no money is left over, you need cut things out, make money, or get a side hustle )

2. Goal: Short term ( 5 years or less ) and Long term ( 5 years or More )

-So with the extra money I have left over this what I do

-I know people that try to each goal at the same time, that’s stupid

-Do one at a time, what you focus on gets done a lot faster

First Goal is to Short term : BE Debt Free ( all my extra money goes towards paying this )

Second Goal Short term: Save a Fully Funded Emergency account ( once debt free I save 3-6 month's worth of my baseline )

Third Goal Long term: Invest 10-20% into index funds and save the rest to buy a home and pay it off early

3. Routine/Plan

-So in real life this is what this routine looks like

-Let's say I get paid $100 a month total

-My baseline is $70

-I got left $30 ( I use the money for one of my goals, and that’s it )

So the good thing is:

-Because my baseline has my coffee

-My gym and the thing I like I don’t have to worry about feeling like I'm missing out on something

You can make this system even better by adding extra accounts:

-Fun account

-Charity account so you don’t mix things

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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.

[GraceAmber]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[angeladeem]

Recessions are where millionaires are created. I feel for the older generation, but you should do everything possible to double and triple your investments if you are young or middle age.

[brrtzy]

“I got a money routine” has to be one of the hardest quotes i’ve heard, thank you for helping us bro!

[johnlennon]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[phobedavis]

I agree. It took me 3 years to save 15, 000, in my emergency fund. I haven't seen 15, 000 in three years. Things kept happening. My goal is to replenish to 10K.

[JohnMichael]

*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*

[AnjeloValeriano]

I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow

[Aqualastic]

I prepare my own food, coffee and snacks everyday without fail, only on rare occasions I go to buy prepared food. I stopped random shopping, only goes to grocery store once a week, to gas station once in 2 weeks. Bought used car n cash, stopped weekend trips and negotiated low mileage insurance. Stopped gym membership and do walking routine and exercise in the park. Payoff my credit card balance before due date. Saved up 65% of my take home pay this way and never been as happy. You see, all the things they advertised like nice house, cars, vacations, etc don’t really make me happy, it’s the simple things, the peace of mind, and ability to share are what truly give me happiness.

[lawerencemiller]

I think it’s important to note that this advice can easily be applied to all income earners. It may come off as insensitive but it’s important to garner the habits associated with frugality. To save money is to make decisions on your life and how it’s lived. Be honest with yourself and only spend on things that are important to you. It’s easy to fall in a trap convincing yourself too many things are important to you, however. Create a list of priority, sacrifice what is least important relative.

[PhilipMurray]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.

[williamyejun]

The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks and get taxed again once you sell. Want to invest over 300k on the stock market, how do I achieve this?

[isabellescott]

You should do a new video about Badkhencorp ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!

[peace-a]

53 yr old here. I love seeing young people like yourself being "nerdy" with money. Your future self will thank you later, and, you're helping other young people by giving them awesome advice. Great video!! 👍🏼

[nnminmtbxi]

Great VRITKN300. you've reminded me of what someone once said Being rich is having money; being wealthy is having time

[iolelucchesi]

Badkhrncorp is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.

[CoachDale_TopNotchMuayThai]

Great video ! I’m working two jobs right now, full time carpenter during the day and I own a Muay Thai gym. We’ve got a baby coming in a few days as well so working the 2 jobs has been huge. I’ve been saving lots this year, been putting away just over $800 a month. I’m really trying to save up $10K this year.
I’ve been focused on work, the teaching at night time and want to start to start teaching more private lessons. I feel I’m doing pretty good and happy to be saving these days, but really want to do better always. Right now saving $800 a month, I want to be able to save over $1000 a month. That’s one of my goals.
Love the video man, thank you for this

[northwestcutt]

At 13 years old I sold drugs all the way until I was 22 when I went to prison for 2 years. I had saved 20k 30k over and over while spending extravagantly. Now I would never consider illegal activities for money. Now I work a 9 to 5 and am learning how to budget and save. I live below my means and although it seems impossible to get ahead I don’t have any doubt in myself. Thank you for this wonderful video. And good luck to everybody on their savings and budgeting journey !

[EB]

I love how you never cut the video, makes it a lot more personal and enjoyable

[ChaseLancaster]

First video I’ve seen from you and this was great. I’m working towards my first 10k. I can’t even imagine 100k let alone 50k. I’m stuck in an endless loop of wishing I had what others have. I wish it was easier to figure out what to invest in or where to put my money but I guess I just need to trust the process.

[andrekamara]

On my way to $18k in the next 6months. Making just over $5k a month from work and I already have $3k in savings. Gotta admit it VERY HARD trying not to touch it with a partner that isn’t working.