7 Things Broke People Always Have Money For
In this live YouTube session, Rob Moore distinguishes between being poor (a circumstance beyond one's control) and being broke (a self‑inflicted state caused by overspending). He presents a poll‑derived list of the seven most common discretionary expenses that broke individuals consistently spend money on: (1) large‑screen TVs and multiple streaming subscriptions, (2) daily coffee purchases, (3) expensive car loans, (4) costly tattoos, (5) cigarettes, (6) frequent sneaker/ trainer upgrades, and (7) regular iPhone upgrades. He also highlights gambling and taxes as additional drains. Moore quantifies the potential annual savings from cutting these items (£12‑£15k) and demonstrates how investing that amount at 5‑8% compound returns could lead to financial independence within 15‑30 years, especially when combined with the “save‑invest‑spend one‑third” rule and avoiding lifestyle creep. Throughout, he intersperses audience interaction, references to his son Bobby, and promotes his subscription platform Rob.team, which offers courses on investing, tax reduction, multiple income streams, and financial education. He argues that traditional schooling fails to teach practical money management and advocates for decentralized financial education.
Chapters
7 things broke people always seem to have money for. Now I'm going to share— I did a poll on my Facebook page here, and I had hundreds, maybe even thousands of comments from people on all the things that broke people still seem to be able to afford. And I thought I'd share here the top 7 things that broke people always seem to have money for. Before I do, um, I'd like, uh, your thoughts. So if you could put in the comments what you think broke people always seem to have money for, um, would love your thoughts. Um, and there's a couple of reasons that I'm actually sharing this. It's not to, um, look down upon the broke, because I actually think there's a big difference between being poor and being broke. Um, if you are poor, it may not be your fault. You know, you may have been raised in a poor location with no money in your family, and that's not your fault. However, if you're broke and you're in Britain and you've got an opportunity to earn money, then I would argue that it is your fault. So, um, it was Bill Gates that said, if you're born poor, it's not your fault. If you die poor, it is your fault. So, um, something to think about there. I'm going to be straight up with you. If you are broke, it's probably your fault. If you are poor, it's probably not your fault. You can't help where you were born, and you know how little money your parents had. You can't help that. But you can help spending more than you earn. You can help spending emotionally. You can help buying all these things I'm about to list, which by the way, a few of you have got them already. You can help this, um, and you can change this. Now, Phyllis said, mentioning Bill Gates, um, vomit emoji. Look, regardless of whether you like Bill Gates or not, he made a lot of money. And I think that that saying is a good saying. If you are born poor, it's not your fault. If you die poor, it is your fault. I would say I think there's a big difference between poor and broke. Poor is poverty. Broke is, well, you've got the internet and you're in a developed Western country, uh, and you, you're earning a bit of money but you're lazy, or you're on welfare when actually you can work, or, um, when you're just not using your skills properly, um, or you're spending more than you earn, or you're and got all these addictions, someone says booze, etc. So actually, this isn't just a taking a pop at broke people, it's actually designed to help. So what I'll cover are the 7 main things that the broke always seem to have money for, and then I will give you some solutions to that, i.e., what else could you spend your money on or invest your money in that would be better. Some of you have got some of them already. Um, okay, so number 1 is a massive TV and Sky and all these TV subscriptions. You know, a massive TV now is what, more than a grand, might be 2 grand, 65-inch might be 3 grand. And then all the subscriptions now— Sky, Apple TV, Apple Plus, um, Netflix, all of that— they can end up being what, £150, £200 a month. You do not need it. You can have your internet connection and you've got YouTube. Instead of watching nonsense fiction, why don't you watch, um, intelligent documentaries? Why don't you watch educational material on YouTube? So you don't need a TV and you don't need 58 subscriptions to all these channels. That's number 1. Number 2, a big one, is actually coffee. You know, because if you buy 3 coffees a day at nearly £5 a hit, that's £15 a day, that's £100 a week, that's £5,000 a year. And if you took £5,000 a year and you put it into the stock market, which might do 6% a year, then in 30 or more years you could have built up that £5,000 to be many tens of thousands of pounds. Okay, the third thing that they always seem to have money for is, um, cars. You know, a car loan for a car that they really can't afford, or a car that's beyond their means. You don't need a car nowadays. You can Lyft, share, there's public transport, you can walk, you can ride a bike. You know, if you're struggling and you want to save a lot of money, But, you know, often people have these big car loans for cars that are a bit beyond their means. The next thing, and this is an interesting one, because, you know, in times of recession, do you know purchases of alcohol, of gambling, of cigarettes, and of tattoos goes way up. So, you know, we have had a hard time since lockdown, and a recession is probably coming. The property market has crashed. So, uh, the next one is tattoos. People always seem to have the money for these massive, really expensive tattoos even if they're broke, and they're probably in debt to someone else and they're still paying for all this, this body art. Um, so the next one is cigarettes. Now I'll tell you what, there's two things that piss me off about cigarettes. Um, before I go there, Allison has said he disagreed with You on that one that you need a car? Okay, what about, you know, just a basic car? And by the way, I like money, and I'm not saying you should, you know, never buy anything nice. If you are in debt and if you are broke, you need to change your spending habits fast. You need to cut all the things that make you spend more than you earn, because you need to spend less than you earn, and you need to turn all depreciating liabilities into appreciating assets. And Alison, it's not just having a car beyond your means, it's that a car goes down in value over time. So it's a depreciating liability. Now Simon says, quit 16 years, non-smoker. Good on you, Simon. So what are a pack of fags now? Someone let me know what a pack of fags is. I don't even know what a pack of fags is. Um, but obviously it's really bad. Cigarettes are bad for you. That's bad. That pisses me off, number one. But the massive taxes you're paying, I think it's something ridiculous like 70 or 80% of cigarettes is tax. So you're just giving the government a load of money unnecessarily. So Steve says a pack of fags is £10 a day, so I assume— £10 a pack— so I assume most people smoke a pack a day, so that's £70 a week. That's what, nearly £4,000 a year? So, um, on TV subscriptions and cigarettes, that's about £9 grand. No, sorry, on coffee and cigarettes, that's £9 grand a year. TV subscriptions are, um, £200 a month, so you're at £2,500 a year plus your TV, you're at £5,000 a year there, assuming, you know, you get the TV in a year. Um, Dory says Fags are now £12. Okay, so not buying a TV, not subscribing to all the TV stations, not buying coffee at, you know, the expensive places, and not buying cigarettes could save you £12,000 to £15,000 a year. It's a lot of money. Um, so I already mentioned tattoos. Uh, the next one, trainers. Broke people have always got the newest pair of trainers. Come on. We can have a bit of a laugh about it. You got to admit that you don't need the newest pair of trainers all the time. Murray doesn't have a TV, chucked it out 4 years ago. You can use your laptop or your phone, you can watch YouTube, um, or you can just have one subscription to Netflix, which is £10 a month. Um, so if we don't have a TV, don't have coffee, don't have cigarettes, um, and then the one-offs of tattoos and sneakers, assuming you know, a couple a year or something like that, you're at £15,000 a year you've saved. Helen says it's £13 to £15 for cigarettes. Well, if it's £15 a day, and then that's even, you know, a pack a day, and some people spend more, then it's even more. Okay, and then the final thing, this one always chuckles me. So if you give a millionaire £1,500 they'll turn it into many thousands. If you give a broke person £1,500, they'll turn it into an iPhone. And the last one is, why is it that broke people always have enough money for the latest iPhone? You, you only need to change your phone every 3 years max, maybe every 5. I don't like changing my phone or my laptop because I hate all the technology. And by the way, Apple, you know, they're taking the piss out of us a bit now, let's be honest. Each new iPhone, we're on bloody 15.1, 15.6, 15.8. It's only marginally better than the last one. Piss take. You change your phone every 5 years. You don't need to change it so often. Now, if you take this $15,000 to $18,000 a year that you save from a big TV, from all the TV subscriptions, from coffee out, from cigarettes New trainers, iPhone, gambling. Gambling's another one, isn't it? Obviously gambling is obviously an addiction. I've got a lot of sympathy for that. I hate gambling. I hate gambling companies. I hate gambling ads. I really, I hate them. I'm definitely going to do a lot of work in my life to try and campaign against them. And you know, but gambling's an addiction. I think that's a slightly different thing. Buying an iPhone isn't an addiction. Gambling is, but you know, many people I know spend, or know of, spend thousands on gambling as well. So imagine if you took that $15,000 to $18,000 a year that you saved. Number 1 is you, um, you will spend much less than you earn, which means that number 2, you'll have more money to invest in assets. And now, by the way, in this list of 7 things broke people always seem to be able to buy, I'm not adding things that are, um, normal and everyday, like food. Someone said haircuts. Well, you probably kind of need a haircut. Um, okay, so let's take this $15,000 to $18,000 and then let's put it into assets that grow 5% to 8% a year compounded. So $15,000 a year is, you know, 8% is a grand a year, and then it goes up and up and up and up. And when you add the compounding in, or if you invest it in assets that produce recurring income, then, you know, you can end up becoming, you know, financially free in 20 or 30 years just from the difference in spending things you don't need. That's not even including adding more earning capacity, you know, earning more money. Here's my son checking in. Bobby, what do you know when you earn money? Um, what do I say you do with the money? The 3 things you do with the money. Say it loud.
Hold it from like the most important.
Yeah.
You save a third.
Yeah.
You invest a third.
Yeah. Yeah, save a third, invest a third, spend a third.
It's important to save so you have some life savings and you get older.
Yeah, and Bobby and I, we're just, um, we're starting you your first online business, aren't we? Yeah. So in addition to saving that, those many thousands, and then you start earning more. Now here's the thing, this— have you ever— give me a yes in the comments if you've ever heard the term Lifestyle creep. So what happens is, as you earn more, you spend more. So if you cut back on these 7 big things that broke people always seem to have money for and invest the extra money that you've saved— I'll talk about that in a minute— and you don't have lifestyle creep, so you earn— when you earn more, you save even more and you have even more to invest. Then you win big. And you know what, you can become a millionaire, um, not even ever earning more than $100,000 a year. You could earn $60,000 a year, live a, you know, a fairly tight lifestyle, and you could become a millionaire in, you know, maybe 2 decades. Now, if you earned $100,000 a year, you might be able to become a millionaire in 15 years. If you earn a couple of hundred grand a year, you might be able to come and become a millionaire in 5 to 10. If you don't have lifestyle creep and you don't spend money on all these things that you don't need. Now, the next part of this is, well, Rob, it's all right for you saying about investing and getting that 5 to 8% return. By the way, that's not even including leverage because you can leverage with property. But you might ask me, well, what do I invest in and how do I learn to invest? And if I've got $1,000, what should I invest in? If I've got $5,000, what should I invest in? Well, I actually did a 10-hour How to Invest series with my business partner, and if you join rob.team right now, I'm going to actually give you that 10— I think it was, I think it was 10 modules, but about 12 hours, um, How to Invest series. I'm actually going to give you that completely for free. So if you'd like the 10-module, 12-hour How to Invest series for free, and you'd like to learn, earn, and invest and create multiple streams of recurring income and make, manage, and multiply money and be able to save a third and invest a third of your earnings, then join Rob.team. Rob.team is my digital financial freedom platform to help you make, manage, and multiply money. Hundreds of hours of courses, resources, and masterclasses, um, that can help you build financial independence. Um, yeah, we'll come back to that in a minute. That's a good point. So to join, just type in R-O-B team. Join Rob.team, type in Rob.team. And that's another thing, getting your tax bill down. So, um, unfortunately, this, this is actually a brilliant point here. And by the way, in Rob.team, um, I will shout out Steve in a moment. Um, but in Rob.team, um, there's actually a tax saving masterclass There's, um, multiple streams of income masterclass, there's a recurring income masterclass, there's the 6 quickest ways to 10 grand a month masterclass, there's the 5 ways to 100 grand a year clear masterclass, all in rob.team. So type in r-o-b dot t-e-a-m. Now one thing we need to add, this is— we're going to shout Steve on this. Good, nice of you to say that, Bobby. Big shout out to Steve Franklin here. Something that broke people always have money for is tax. Something that broke people— Bobby— something that broke people always have money for is tax, because they take tax at source, and that is wrong. But they take your money. Do you know you're now working about 70% of your time for the government? Because the— Bobby, I'm on a live. This finger, look at this finger, this finger goes everywhere. Um, so you know, if you have corporation tax at 20%, corporation tax at 25%, VAT at 20%, income tax at 45%, pension contributions, National Insurance, you have all of these taxes and everything that you buy, there's tax. And fuel, there's double tax. On. So actually, uh, things that we all always have money for, and which I don't think is fair, is tax. So if you want to get your tax bill down and your income up, come join Rob.team. It'll cost you, what, 22 pence a day? You can cancel anytime, there's no ongoing contract, and there's hundreds of hours of courses, resources, and masterclasses to make, manage, and multiply money. Bobby, do you want to go through a couple of these comments? Um, so Maria said, I'm not trying to be funny, but we might all be dead if all these so-called elites get their way. Well, Murray, yeah, I have done a lot of content on speaking out about, um, you know, the censorship and, you know, the power and the control. Um, I, I think that we should all start— for example, cashless society, I resist. I will protest against the cashless society. How outrageous the taxes are. I resist, and I do speak up, and I do do lives about these things. So I completely agree, and I think it's outrageous. And one of the reasons I built Rob.team, um, is to help you have a decentralized education, because the school system is indoctrinating you, and then to help you, um, have decentralized assets help you have a decentralized media, and help you learn to invest in assets that you control rather than, you know, assets that the government essentially own. So yeah, rob.team. Um, Alison has typed it in. Just type in r-o-b dot t-e-a-m. Go follow Alison Cleve. Uh, Alison's a rob.team member, so Bobby has shouted out Alison. Go follow Alison. Bob, you got anything else to say before we go? What do I normally end my videos by saying? Buy something?
No. Oh yeah, if you don't risk anything, you risk everything.
Boom. Over and out. Thanks for tuning in. And I wonder if you wouldn't mind sharing this because I think there's really bad financial education out there. The schools do not teach us what we need to know about money. They do not prepare us how to manage our money emotions. And I think that the education system around money is really lacking. And, you know, that's of course my mission.
Um, they want people to be doctors, which is good.
Yeah, well, you need to be a doctor, you need to help people. It's a good point. Bobby said it's because the education system wants people to be doctors. Yeah, doctors, accountants, lawyers, you know, these professions are all needed. Um, and That's what the education system is built for. But they all have to pay tax first, and they're taxed at source, and so most of their— much of their earnings are taken off them before they get it. Whereas if you, um, really understand about money and you start your own business, you pay tax last, and you can get your tax bill down with some tax breaks, um, and not give it all to the government. Um, and if you'd like to learn how to do all that, get your tax bill down and your income streams up, JoinRob.team, just type in Rob.team, really easy. And, um, you— 22p a day, cancel anytime, no ongoing contract. Help you make, manage, and multiply money. Hundreds of hours of content to, um— Robert likes the videos.
Oh, Russell, Tanya, you're a bit late, mate.
Thanks for tuning in, see you soon.
