STOP LIVING PAYCHECK TO PAYCHECK! #Best Education Page #Online Earning

how's it going today guys so today we're

going to be talking about how to stop

living paycheck to paycheck now I just

recently did a video called how to break

out of the lower class and if you're

someone who's interested on this topic I

highly recommend that video as well

because I talked about a lot of ideas in

that video that would help you stop

living paycheck to paycheck as well but

for this video I kind of wanted to make

it a more pictorial type video and kind

of have a representation of this in an

actual picture so you guys can see it in

front of your eyes because a lot of us

are visual learners we need to see

things you may hear something you may

read something but until you can

visualize it it may not click with you

it may not set that light bulb off in

your head I'm really excited to share

this video with you guys because I'm

talking about some of the teachings from

one of my favorite books of all time

which is Rich Dad Poor Dad by Robert

Kiyosaki and I highly recommend that is

the first book you read if you're

someone who's trying to break out of the

rat race if you're someone who's trying

to you know improve your life and make

more money in improve your financial

situation so the link to that book is in

the description if you guys are

interested but anyways what I want to

talk about first is income versus

expenses because if you're

paycheck-to-paycheck your income is

equal to your expenses so what does it

actually look like so this is where you

want to be in an ideal situation this is

the minimum okay you want to be someone

whose expenses are 10% lower than your

income at minimum and then you're going

to take that 10% and you're going to

invest it or at least save it you know

you're going to save it for a rainy day

fund and eventually hopefully invest

some of that money so this is where you

want to be as a start I don't think this

is where you want to be your whole life

because you're going to be working for a

long time to ever be able to save enough

money to you know enjoy your life and

have a retirement so you want to be

saving a minimum of 10 percent of your

money and in order to do that you need

to have your expenses below your income

so if your income is right here at

$3,000 and you have 2700 dollars of

expenses you have 10 percent or $300

leftover every single month to save as

well as invest now 49 percent of

Americans are paycheck to paycheck this

is what this looks like your income is

equal to your expenses

there's

no surplus left over at the end of the

month your account balance stays the

same your money comes in and it all goes

right back out maybe you'll have a small

cash cushion in your checking account

but you have no money invested maybe you

have an employer 401k if you're lucky

but that's not enough that's not going

to cut it that's a good start but you

need to be doing things above and beyond

that so you're someone whose balance is

the same at the end of every single

month and you're saying how the hell do

I stop doing this because this sucks I

work 40 hours a week and then I take all

that money and I blow it and it's like

where's my money going the best way to

answer that question as far as where

your money is going check out the video

I did on how to break out of the lower

class because I covered a ton of stuff

in there as far as discretionary versus

non discretionary expenses we're not

going to get into that in this video

we're going to kind of talk about some

different stuff that I think is going to

help you guys a lot now even worse than

paycheck to paycheck is where most

Americans are these are people who are

contributing towards their debt they are

in debt and they owe money to other

people so this is someone whose expenses

exceed their income so that area right

there this filled in area is the debt

that they're accruing every single month

so here's a somebody right here with a

$3,000 income and $3,500 of expenses

well that money's got to come from

somewhere and it's going to come from a

credit card so just so you guys know 80

percent of Americans are in debt now of

those 80% 44% of Americans do have

mortgage debt so most of us are not

living in a home that is paid off most

of us are living in a poem that we're

paying for with our mortgage but even so

that's only forty four percent of us and

80 percent of us aren't debt so this is

even worse than being paycheck to

paycheck because you actually don't even

have enough money to pay for your

expenses so how do you fix this there's

two ways you can fix it you can make

more money or you can spend less money

or the best-case scenario do a little

bit of both so now we're going to talk

about what I call the defensive versus

the offensive approach okay so here's

how I want you to think about this this

is the defensive approach the defensive

approach is to lower your expenses okay

but there's something there's a saying

before that you get you can only pinch

your money so much you can only spread

yourself so thin yeah you can clip

coupons yeah you can you know

by discount groceries you know use less

energy turn off lights in your house

sure you can keep your thermostat at a

reasonable temperature but that's only

going to get you so far guys that's not

going to make you rich it will help

improve your situation but it's a

defensive approach okay the way I see a

defensive approach is kind of like

shriveling up okay kind of shrinking

yourself down and being a minimalist and

it's not a bad idea

but I want you guys to take more terms

of the offensive approach what is the

offensive approach that's increasing

your income okay because maybe you like

your standard of living maybe you like

being able to buy foods that you enjoy

not so much having to buy what's on sale

maybe you like going out to a restaurant

once or twice a month maybe there's

things that you do that you want to

continue to do because it's you know it

gives you a quality life okay if you

want to take the defensive approach you

have to cut things out of your life and

scale back you should do this but I want

you guys to think in terms of being

offensive and being on the offense and

kind of running towards the problem as

opposed to running away from the problem

the defensive approach is kind of

running away from the problem the

problem is you're not making enough

money and your solution is to shrink

down shrink what you're spending so how

do you go about doing the defensive

approach it's very simple guys you've

got to spend less money I talked about

this a lot in that other video but

basically figure out what your

discretionary and your non discretionary

expenses are make a budget and then cut

stuff out you know stop spending certain

amounts of money on alcohol and

entertainment and just figure out where

you're spending too much money everyone

should do this but it's the extent that

you do this I mean do I clip coupons

absolutely not it's a waste of my time I

don't use the shopper cards I don't do

any of that stuff because it's a waste

of my time I'm more on the offensive

approach of making more money so I don't

have to clip coupons so I don't have to

you know look at what's on sale and buy

food that's on sale some people that's

what they're going to do but I want you

guys to think outside the box and be

offensive so what is the offensive

approach the best way I could

demonstrate this is looking at Robert

Kiyosaki's cash flow quadrant this is

right out of Rich Dad Poor Dad I'm sure

you guys have seen this or a variation

of this somewhere but I'm hoping that

once you

the light bulbs going to go off in your

head because I can remember the first

time I read through which Dad Poor Dad

it was like something I was just reading

through my friend recommended it I was

depressed at the time and he was like

check out this book you know it really

helped me when I was you know between a

rock and a hard place and I'm like yeah

sure I'll read a stupid book and see

what this does but I remember reading

that book and like having that aha

moment where I was like this is it

this is the ticket this is why I'm

unhappy this is what I need to do and

that's what sparked this YouTube channel

where I'm now what's considered the S

quadrant or self-employed so let's go

over the cashflow quadrant so you are

one of these things maybe you're

multiple of these things which is good

if you're two of these things that's

good maybe you're a you know an employee

as well as an investor or a business

owner and an investor or something like

that but anyway most of us fall into the

category of being in the e quadrant or

being an employee this is somebody who

has a job and time is equal to money and

there's no breaking out of that equation

because you're paid a salary or you're

paid an hourly wage if you're paid a

salary your time doesn't even equal your

money because there's some times that

you may have to work 70 hours and you

make the same money some days or

sometimes you'll work 40 hours and you

make the same amount of money but the

number one problem with this the number

one problem with that strategy is that

this is not scalable because the only

way to make more money is to waste more

of your time or spend more of your time

I see working a job as wasted time but

you know some people would disagree with

that I mean you are making money but

this is not scalable okay you're never

going to go anywhere this is not a way

to make more money by sacrificing your

time most of us don't want to work more

than 40 hours a week at a job that we

are not necessarily enjoying I mean I

love what I do and I probably put in

some weeks 80 or 90 hours I work every

single day on YouTube but I love it

that's the difference this is a low-risk

approach and for those of you familiar

with stocks low-risk stocks give you a

low return okay so the low-risk strategy

of being an employee will give you a low

return in life where you're going to be

compensated a small amount of money

let's do the S quadrant next because

this is where I fall this is somebody

who is self-employed so rather than

having a job you create a job you go out

there and you

find a way to make money by providing a

service or providing a skill so you

create a job and hopefully your time is

equal to more money because there's less

people taking the money out I mean the

idea of having a job is to make the

people at the top richer and you are

just a worker bee and you make a small

amount of money based on how much money

you're actually making them if you're

self-employed you're in control of how

much money you're making and how much

you pay yourself so time will equal more

money but the problem with being

self-employed is that time is still

equal to money and you're paid by your

effort so this still isn't as scalable

as a as a business which we're going to

talk about in a second but you can scale

being self-employed into a business by

hiring people or contracting stuff out

that you don't necessarily want to do

this is a good place to be this is a

good place to get started is to move

into the self-employed quadrant and you

don't necessarily have to quit your job

you could be an employee as well as

being self-employed by having a side

hustle that's how I started on YouTube

guys I was making videos in my spare

time and it turned into my full time you

know gig right now where I am

self-employed making all my money online

so basically when you're putting in the

time you're going to make more money

because you're paid by your effort if I

put in 90 hours of work in a week on

YouTube I'm going to see more money if I

put in 20 hours I'm going to see a hell

of a lot less money because you are in

control of your own destiny you're in

control of how much money you make if

you don't put the effort in you're not

going to make enough money you're not

going to make as much money now what I

like about this is you can scale it into

a business like I said and this is

probably moderate risk because most

people if you are you know disciplined

enough you can make a living being

self-employed but in order to scale it

into a business this is where you guys

should be focused it's scaling something

into a business because at that point

you are contracting out the work you

don't want to do you're hiring people to

do the that you don't want to do so

one example of this is I've actually

started doing this myself because I want

to scale this I see the bigger picture

here so I actually decided I'm done

making thumbnails this is consuming way

too much of my time and I hired a

graphic designer and now I paid him to

make my thumbnails and because I'm

making enough on YouTube I can afford to

have an employee or somebody you know on

the books there that I'm just

contracting work out to as a result I'm

able to scale this because I just freed

up some more of my time which I can put

towards an effort that actually makes me

money so that's how this becomes

scalable ok so now let's move and look

at the B quadrant this is the business

owners out there this is when you have

people working for you and the people

make you the money

the people make you the money most of us

are the people making the money for the

business owner we are the people making

the money for the person at the very top

that's a bad place to be so instead of

being paid hourly instead of being paid

by your effort you're being paid by your

ability to select talent and contract

out work and manage the work as a result

you're being paid by projects or by

clients and this is scaleable guys this

is scalable you're able to hire more

employees over time this is higher risk

and as a result it's a much higher

reward most of the rich people out there

most of the millionaires and the

billionaires have a business of some

kind you know they started a business

there is risk involved but for those of

us who do this and are successful there

are tremendous rewards in doing this and

then we have the I category this is what

my channel is about this is the

investors out there guys you can be in

any of these three quadrants and also be

in the fourth investor quadrant the AI

quadrant this is arguably the most

important one because it doesn't matter

if you make $14 an hour or $200,000 a

year you can make yourself a great

future by investing okay so this is when

you're an investor in money works for

you so basically your money makes you

more money your money is equal to your

money you don't have to spend any more

time you just have to put your money to

work so what I love about this is its

passive its passive income I mean if

you're somebody who goes out there

invests in dividend stocks and you have

a dividend reinvestment you never have

to look at that every quarter the

dividends that are paid by those stocks

are going to be reinvested back into the

stock and you don't have to do anything

you just sit there and you let your

money grow over time what's great about

this is its scalable because you can add

more money to it and this is variable

risk for somebody who wants a low risk

investment maybe you're going to look at

bonds for someone who wants a high risk

investment maybe you're going to go

start flipping real estate there's

something out there for everyone when it

comes to investing based on what your

risk tile

so you could find some really high-risk

investments out there or find some very

low-risk investments but you need to be

in multiple quadrants if you're just in

the employee quadrant if you're just

sitting there in the e unless you go for

the defensive approach you're always

going to live paycheck to paycheck so

maybe start with the defensive approach

start getting control of your spending

but I want you to at some point think

about a more offensive approach that way

you can kind of at some point buy some

luxury items maybe you want the newer

car maybe there's things you want

because we're human beings and we have

desires and yeah it makes sense on paper

to be a minimalist but you know when

your friends are inviting you out for a

beer and you go out and you order a

glass of water because you're like oh

I'm going to be defensive that sucks

okay that's not a fun situation to be in

so I want you guys to think about a more

offensive approach and I really hope

that showing you guys the the Robert

Kiyosaki's cashflow quadrant I really

hope that sparks something in your mind

where you went okay I need to start

investing or I need to start a side

hustle or maybe you're ambitious and

you're going to start a business you've

got to do something here to be offensive

otherwise you know you're going to be

stuck living paycheck to paycheck or

having to you know to you know shrink

down and be on the defensive side of

things anyways guys I hope you enjoyed

this video like I said I'm going to link

up the video at the end on how to break

out of the lower class if you guys

enjoyed this video please drop a like

and if you are new to my channel please

consider subscribing to be notified of

any future uploads and as always I thank

you for taking the time to watch this

video

you

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