So what I'm going to do today, is just give you a very aggressive system to get out of debt, and although it's simple. It's not going to be easy to follow. Like running a marathon it's simple just run, but it's hard to keep running for 250 miles. 💲1 on 1 Talk + My Budget + Stock Investments💲 https://www.patreon.com/tommybryson 💰M1 FINANCE $10💰 MY PORTFOLIO Link: https://m1.finance/fQsrul1PZcHM MORE PORTFOLIOS https://www.youtube.com/watch?v=VtNtk6OQTVA&t=329s 1. The reason you are in debt - Child mindset which I had and I still fight very hard to resist ( - Trying to change the results but not the system - Let me explain Child Mindset: - You want something now although you can't afford it ( and you find every way to justify buying It) physiologically people look for facts to support what they want - Example, you want to buy a car you can't afford to get a loan, you want to buy a laptop or phone you cant afford so you get a payment plan - All of this is just you wanting something right now, but you can afford it ( its chile mindset) - And you say, well it's only $30 bucks a month of 24 months, or 500 for 5 years or whatever it ( you justify it, and you say the interest is low so it makes sense) - But if your future or current kid or cousin, was screaming at you saying they want the Playstation or a fancy doll, but they had terrible grades and a bad attitude you would probably say no unless you want to spoil them. - SO when even I'm doing this, I say to myself, stop being a baby. Trying to change the results but not the system: - You're trying to get out of debt so you focus on the results ( paying of the debt and trying your best ) - But you still have the same bad money habits: not managing your expenses - Meaning you are still using the credit cards, your not selling you don’t need ( new car) - So the results will never change you will forever be in debt - So focus on the system leading to that, and that’s what I'm going to teach you 2. System and How to use it - Yes this system is very aggressive towards paying a debt - And building good habits - But it is simple System: - First step is saving $1000 dollars for emergencies, and if you broke and can't save that, then save one month pay ( meaning you have to make less than 12k a year to get away with saving less 1k) – we have this step, so when things go wrong you can always pay for them without going into debt Step 2: - Lower your living expenses to no more than 50-70% of your income – Yes cut bills, memberships, and anything you don’t need ( and that means no more eating out and parties and all of that – I wanna yolo a 75 year life ) Step 3: - Organize all of your debt including student loans, car loans and everything expense mortgage from the high apr to the lower apr - Set all the payments on these debts on pay the minimum automatically each month - Then pay an extra 26-46% of all the money you make towards the debt with the high apr Extra Credit: - Make an account with wealth front for emergencies only: Deposit the 1k their and every time you get paid put in 1% of your pay each week - Make an account with M1 finance: and invest every time you get paid 1% of your paycheck automatically ( my portfolio links below) - Make a Fun account with Sofi money, where you save 1% of all you make to have some fun each week ( this might only be $5 or $10 but it's going to give you a taste of guilt-free spending ) - Sign up a charity: I like share the meal its an app, and give 1% every time you get paid 3. That’s it, the system for getting out of debt - And also building strong habits - Once you're done, you’ll literally have a ton more money for fun, investing, and even buying home - And I’m working on a full-blown course on all 3 steps, and I just taught you the first one. * PRO TIP* INFORMATION IS EVERYTHING 👕Merch👕 https://teespring.com/stores/tommybryson ✅2 FREE AUDIOBOOKS✅ https://amzn.to/2Enayo8¬¬¬ 🎁ACORN FREE $5🎁 Link: https://acorns.com/invite/38EYSU ⚡FREE KINDLE UNLIMITED⚡ (traditional reading) Link: https://amzn.to/2VGbxt9 👨🏽💻DISCORD PRIVATE GROUP👨🏽💻 https://discord.gg/EcZEHpA My Camera Gear: https://www.amazon.com/shop/tommybryson ✔ Help Us Reach 300,000 Subscribers: https://goo.gl/0wvm6w 😎All My Social Media😎 Link: https://linktr.ee/tommybryson *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.