💸Altcoins: Living Paycheck-to-Paycheck: How to ESCAPE with AI and Crypto!

So today I wanted to talk to you about uh a terminology I call escape velocity. And escape velocity is very simple. It is basically taking all of your monthly expenses and all of your monthly income and adding them up together. Right? And do not include things like food and gas. Okay? So imagine you earn $4,000 per month and uh you know you have gym um Amazon Prime uh your rent your maintenance um maybe a cleaning lady if you're lucky or you know maybe you're taking some dance classes. So there's monthly expenses that you will pay no matter what. And uh once you understand that uh then you can actually go to step two and step two is basically just putting this uh all on paper. So, uh, what I did is I just opened up, uh, Google Gemini, and what we're going to do is we're just going to say, "Hey, Google Gemini, can you please create us a simple monthly budget? Uh, what I want to see is, uh, my um $4,000 income every month I get from my job, and I want to subtract uh, $1,500 for rent, and I also want to subtract uh $20 for um, Netflix, and uh, $60 for the gym. Right. So this will be our prompt and um my uh my phone started acting up. Um so um you know all we did is we just say you know this is the hardest part I feel like for the people to get started uh is this part and that's why I think just a simple one uh you know that basically it will give you a lot of ideas of what to put. So let's take a look at this. Um so it's exactly what I said. Um and this is great. You know you can open this up in uh in the spreadsheets right away. uh and I recommend that. So I recommend that you keep uh up to date list. Um now with AI, I guess uh you could just keep this context and keep it going, right? So if I say um so I say, "Hey, can you also add $80 uh monthly uh transport expense? I forgot about it. I have a car. Maybe it's paid off and $80 is my insurance." So you can be very descriptive um you know and be very expressive and the more you explain to AI the better the the budget's going to be. By the way this is miles ahead you know I I I built my budget years ago and uh I just did it put you know all in spreadsheet and every month I'll go through my uh credit card statement and my bank account. I go through every single transaction. I classify it you know make sure it's if it's a recurring expense it's there. If it's not recurring expense, I'm I I just would like to know, you know, if uh basically uh if you take up all of your expenses and you know, if you take um your income and add them together at the end of the month, you'll get a number, right? Let's say uh you get $1,000 to uh uh basically for any variable expenses, you get $1,000, right? And really, if you think about it, hey, look, you got a $4,000 paycheck and now only $1,000 remains. This is why we're suffering, right? And if you think about it, everything, you know, everything is a subscription nowadays. Uh things that were not are are now a subscription. And even things like Netflix were which were like $6 are now $30, right? And above. And so that's really where a lot of your money comes from. Now, what I what I'm not so one thing I want to make clear is I'm not saying go and live off rice and beans, right? This video is not about that. Like I you know, you probably got some expenses uh once you put them on on paper and then you know once you realize that hey do I really need Netflix? Uh you know do I do I really need to save on Netflix? Right? And if you there's probably some expenses you will be able to probably cut right away. Um, it's just once you put them on paper, you will see exactly what I mean. Uh, you might also have debt. Um, and what I recommend is honestly before doing anything is pay off your debt. I think it's the best um, it's the best investment and once you once you get to uh, so basically if you're if you have debt, you have negative monetary velocity, right? So uh, or negative escape velocity. So it means every month you're losing money um at a faster rate. Yeah. Really, you know, you don't want this. So um basically a $0 escape velocity, that's your goal, right? You want to get to a part where all of your expenses are paid off by passive income. And uh really that's kind of the last part of this is all the passive uh income uh options. What are they, right? Well, you got a job, right? And if you have a job, you can get a second job, right? You can get a some gig work. Uh, you know, find a hobby. That's my recommendation. Find something that you love. And uh if it can make you money, amazing. You want that. Uh examples. Why not bake something, right? I mean, you can just bake something and sell it. Hey, I know it's sounds crazy, but you got to start somewhere, right? You got to start something that you will enjoy. And then it should also make you money. And I mean there are things like Uber. So I would say, you know, if you're doing things like Uber Eats, to me, it's just uh that would be probably your last uh last option in my opinion because it doesn't really that kind of work doesn't really move you forward. What I mean, yes, you will get paid, but that is really just to probably to cover some of your some of your um velocity, right? So, you're like maybe rent or car insurance, right? And uh in my opinion, you know, if you can find something that you're enjoying uh and you know, this could be like woodworking or maybe um you know, maybe like tutoring a second language or maybe you know, you spend a lot of time on games, maybe you know, why not make a YouTube channel. Um so what I'm saying is just don't get stuck in that mindset that there is no escape in my opinion. Fi find what your hobby is. Find something that's interesting. If you're bored all the time, you probably haven't really found your hobby. So, this last part, you know, once you have a budget like like this and once you see all the numbers really, you know, you're going to see it, you know, if you have like $1,000 out of your $4,000 every month, life isn't that fun, right? But imagine if your escape velocity is at $0 and then every month, you know, imagine you you go to work, you get paid $4,000 and you get $4,000 to spend on whatever you want. You know, you want to invested or you want to, you know, go on a trip, whatever you want, that is the ultimate goal, right? And you, I'm telling you, once you get to $0, the rest is very easy. Because once you break this point and make more money than your expenses, well, guess what? You're just basically investing every, you know, every dollar because well, well, you know, sure, you'll go on some trips, but are you going to take a trip every month, right? Do you need like what do you need? You know, a house maybe, you know, and then you work towards that. Maybe you have a a bigger house. Like, so what I'm saying is, look, just put all your numbers on a budget. AI is here to help. You know, you can just dump all the information. You might not even need to dump information. Just go to your um bank account, export it into like export in some file, take, give it to AI, and say, "Hey, here's my bank report. Can you classify it and figure out what my expenses are?" That's it. So basically, it's just I don't really um think a lot of people know how much money they have at the end of the month, right? So they'll go and buy something, but how much like how much can you buy every month? So you know when people like tell you to do budget, it's just to me I I hate that like being limited to to something, right? Um that's why I prefer this. You know, this will give you your maximum. And if you're if you spend more than maximum, hey, you know, there's times that you got to go and uh you know, replace tires on your car or maybe there's a emergency, right? There will be times when you go above what your uh remaining amount is. And this is why you need savings, right? So, it's it's just without savings, you know, if you just think about it. If you have $1,000 and you spend more than $1,000 a month, that's it. You you're like in a trap of debt because once you reach this point, guess what? Things will get more and more expensive and as they always do. So, last part I just want to talk about yield again, right? So, where do you really get the how do you break the cycle? Well, you can work maybe a second job. Um, or maybe you can invest. And you know, most famous things to invest are things like real estate, which is great if you have some. That's a great way uh of uh your mortgage isn't an investment. I know it seems like a loan, but it is an investment because ideally you're paying, let's say, 4% on your mortgage. And ideally, the rate of return on a house over 30 years is going to be more than that. So, I think for a lot of people that have houses, they have this investment. They don't they don't really consider it as an investment because, you know, they just think uh it's a monthly expense. But I would say my best investment ever has been a house because it is just something that you're paying towards and automatically behind the scenes you really, you know, you're you're you're actually growing um you're actually growing your um assets. So anyway, I'm just I just keep um jumping back to the spreadsheet because to me this is really the most important part. Look, if you if you can take 15 minutes, I'm not asking you to spend 30 days, 15 minutes, just jot it down, right? High points. Look, just like like even cover this housing, transport, that is probably going to be your two main categories. Just think about that. How much do you spend on your mortgage or rent and how much do you spend on your car? So, just add those two up. I I would say those will be your biggest ones. I know they are for me. uh those two expo are the most expensive things uh I have and everything things like gym and maybe some Netflix those things is just such a small percentage and the doesn't you know it's I I I try even if you try to save you know you try to save $20 per month if you're paying $1,000 for your rent you know what's the difference like it's not going to be that big of a deal but really you know yeah $8 is a lot when you have $100 remaining uh for your escape velocity and you know that's 20% more money at the end of the month. That's a huge amount, right? And then if you think about it, if you have $1,000 left and you're spending, you know, $400 on a car, just think about how much more efficient it would be to take a transport, right? So anyway, I just it's a really interesting subject and um you know I feel like I I've been doing this for the last 3 years and um actually sorry I would say I would I've been doing this for the last seven years really. um you know and it's probably one of the reasons I've created my my own token specifically focused on yield is because I I always felt like this is the missing part because once you see the numbers then once you start thinking where do you get passive income you know then you fall into this risk trap right it's like passive income comes like or I would say high percentage comes with a lot of risk right and To me, that's always been my kind of driving factor. How do I reach escape velocity, but also in a meaningful way, right? Because like, well, you could have just $10 million. It was $10 million you can reach your escape velocity, but of course, we don't. So, you know, it's like what is the most u interesting way to make your money work for you, right? And yeah, it's that's that's been my kind of I don't know. I think that's like why I also like things like master nodes and staking in crypto was because that is contributing to this right but I always felt like those things never really scaled well uh you know it's just inflation and eventually it just gets to a certain point where it's just not sustainable so or once again the percent is so low that you can get higher percent return in traditional markets like ETFs and uh [snorts] anyway uh it's Just the reason why I think I created my coin as well is because I, you know, this is the problem I want to solve. It's like, how do we get to this escape velocity in a meaningful way? Um, I just didn't like any of the investment uh choices that I had, you know, it's like uh everything just seems like risky or uh it just doesn't really feel like innovative enough, you know. So, yep. That's that's uh that's it. Just go create this thing. It's going to take you 15 minutes. Okay. Thanks everyone.