@@just_sallyokStudents give all the money to pay the interest on student loans, this is for the children of businessmen who, having earned money from thousands of workers, can buy housing, education and everything else necessary for their children
I like the idea, but oftentimes, 30% is not enough for necessities. Granted, this can vary depending on where you live, but the general rule for most places is 50-30-20; 50% for necessities, 30% for discretionary spending, and 20% for savings. If you’re able to reduce your necessities down to 30% and put more money toward savings, then this video is a great guide!
This is a good lesson. I had a friend who genuinely got screwed with a bogus ticket and everything. Between his bills and lack of savings he was going to miss payments. He needed $200, and spotted him that and extra on the condition he payed me back when he could and he let me lecture and show him how to do exactly this. He ended up leaving school, but picked up work as a plumber and now makes more money than our mayor. He's got his own business and everything. We play golf every few weeks
Glad to hear this story. I had to constantly poke fun at my friends due to their lack of savings in order to convince them. It worked and now they make more than I do so its their turn to make fun of me. Im just glad their doing better now.
The money is taxed when you put it into the Roth IRA rather than taxed once you take it out for retirement like other plans. In theory you "put in less, take out more".
People in Lebanon after not saving in cash: (The bank accounts 'froze' and the government took all the money inside, and any cash money decresed so much cause like in 2017, it was like 1,500= $1, not it's like 90,000= $1, so if you had savings in bancks they were gone and if you had them in cash the value would have decreased so much that you could barely do anything with them)
You should also take 10% of your paycheck and put it in a Roth IRA and keep on stacking it. You’ll get compound interest from all the money. You’ll be retired at the age of 40 if you do it at a young age.
these numbers are just guidelines ofc! as you get older, you’ll def need to put more towards needs
how expensive were these hot cheetos for him to be blowing his entire pay chrck
plot twist: he's mrbeast working on his next video (Donating hot cheetos to kids in the southern hemisphere)
How do you apply to a custodial roth IRA
your discord server banned me 💀
sixth
"you sit him down and draw a circle"
Me struggling to draw a circle while my friend is already leaving
💀
Lol
Real
NOOO STOPPP THATS SO FUNNY LMFAOOOO 😭😭
The facts of this video 😂
The 40% goes to rent 😭🙏
I think this is for people who live with their parents or at a university
@@just_sallyokStudents give all the money to pay the interest on student loans, this is for the children of businessmen who, having earned money from thousands of workers, can buy housing, education and everything else necessary for their children
I like that the circle magically becomes perfect
It becomes perfect magically just as you’ll magically lose your money if you’re subscribing to his program lol.
@@solanum6039😂😂😂😂 true
@@solanum6039do you know who this guy even is 💀
@@solanum6039he doesn’t even have a program 😂
Talking straight from your ass
@@solanum6039can i have some of what you're smoking cause idk about you but he's not advertising any program😂😂😂
Nah man the paycheck will go 100% into needs or he will starve💀
Only 100%? Lucky
Blud is Caseoh
i dont remember ordering a yappacino
@@vgrants1717
Same
America nowadays is falling into an abysmal condition. I wish you all well in the next Revolution.
"Dude I don't need no finance lectures, I asked you for 20 bucks"
Only 161 likes and 0 comments lemme fix that.
Sit him down and remind him 20 bucks is 20 bucks
@@Madison_108oNlY 161 lIkEs what r u a two yr old
@@BunnyKin549only one like? Let me not fix it
thank you for not fixing it like an annoying child.@@s1mplyv4ni_xoxo
Reality:
30% for food
70% taxes
Who said I paid my taxes
@@TonyPaws-bt8fjreal🗿
@@TonyPaws-bt8fjreal
@@TonyPaws-bt8fj Because your a kid on your mum's phone
@@cjthegoat4 Because your a kid on your mum's phone
More like:
50% to rent
30% to needs
10% to wants
10% to emergency fund savings
I like the idea, but oftentimes, 30% is not enough for necessities. Granted, this can vary depending on where you live, but the general rule for most places is 50-30-20; 50% for necessities, 30% for discretionary spending, and 20% for savings.
If you’re able to reduce your necessities down to 30% and put more money toward savings, then this video is a great guide!
Yeah if you have a below average salary than ur doomed
Remove that 30% and add it to savings and out of the savings,70-80% use it to invest lol
In most cases you have loving parents as a teenager so the parents will also help with necessities
This advice is never for, or _from,_ anyone who's ever been below the poverty line.
i think it’s intended for teens, who usually have less necessities to pay for :)
why's that circle so perfect
This is a good lesson. I had a friend who genuinely got screwed with a bogus ticket and everything. Between his bills and lack of savings he was going to miss payments. He needed $200, and spotted him that and extra on the condition he payed me back when he could and he let me lecture and show him how to do exactly this. He ended up leaving school, but picked up work as a plumber and now makes more money than our mayor. He's got his own business and everything. We play golf every few weeks
Glad to hear this story. I had to constantly poke fun at my friends due to their lack of savings in order to convince them. It worked and now they make more than I do so its their turn to make fun of me. Im just glad their doing better now.
@@createrz8433
Tough love, lol
Glad that worked out for y'all
'your friend needs twenty bucks because he blew his last pay check on hot cheetos' relatable
If yo friend broke after buying 1 bag of hot cheetos don’t even bother trying to help
I WAS LITTERLY EATING HOT CHEETOS WHILE WATCHING!!! 💀
Bro literally did not care that he drew a perfect circle
He didn't the first circle he actually drew was not perfect he he cut and had a different circle
“before i lend you the cash, let’s just quickly go over your credit card history”
Bro thought he could fix his circle and we wouldn’t notice
Why did i think it said at the start "your friend eats 20 bucks because-" 😭💀
"Your friend needs 20 buck-"
-Deal *grabs a skirt thigh highs and 20 dollars*
ok but you can't eat them so they are automatically worth less than hot cheetos
20$ is 20$
@@genericu2you didn't get the joke
@@benjamincharlton1388 I get the joke, I'm just saying I can't eat thigh highs and a skirt
@@genericu2Oh, absolutely makes sense, but you told the wrong person
Bro got answers for every problem in my life.
He would probably blow all his money on 1 bags of hot Cheetos if he got more money, gotta have diamonds in it 💀
He means hot ducks
20$ on 1 bag of hot cheetos is wild.
This is actually really smart I will definitely use this in the future
Blud had the college necessities in mind
This 60/40 isnt working
Food: Hot Cheetos
Want: Hot Cheetos
Savings: for Hot Cheetos
Bro drew a perfect circle
I could never do that
20 bucks for Cheetos is insanity
This is only for teenagers not adults
We can appreciate that this man is a cleanest drawer
'I- I just wanted 20 bucks-'
'Well you now get something even better!' Btw I got the 20th like, coincidence?
@@henriquedeleuzejesus2977 a college degree.
Bro after hearing your monologue:
,,yea, ima buy some Starbucks coffe for that money"
bro either earned so little he could only buy one pack of cheetos or he bought so many cheetos he had no more money 😭😭🤚
Crazy how the circle suddenly became a perfect circle the next frame i guess gohar's pen is really magical
taxes: "ight imma head out"
it's a teenager they don't pay taxes yet
@@gamingonafullstomachhis free trial subscription is expiring 😭
The money is taxed when you put it into the Roth IRA rather than taxed once you take it out for retirement like other plans. In theory you "put in less, take out more".
Nah i still choose the 50-30-20 rule, 50% on spending, 30% on investing and 20% on saving
Are we not going to talk about how he drew a perfect Circle 😅😅
“… and draw a circle”
*casually draws a nearly to perfect circle*
"Look man, i just need 20 bucks"
Imma save this vid for when im in college your the best dude
Instructions unclear, I spent 5 years trying to draw a circle
Honestly this dude teaches us more then school
Lol not the Cheetos tho ☠️
"Hey bro I need 20 bucks"
"Okay sit down and I will dr-"
"shut up and give me 20 bucks"
Not me taking notes for college 👀 🤭
In Hungary we are happy if we can buy our needs for the month without getting loans.
This man does the work of god
Not him drawing a circle better than my crusty hand writings 💀
Me:Mom I made the best circle! Mom: son no just no don’t lie to yourself 😭
My pay check hardly covers necessities 😢😢😢
work more
I mean this is for teens so if you are one then of course it doesn't and if you are an adult then sorry to hear
This is for teens living with their parents and still in highschool.
Swedish people having 30% taxes 🗿
You sit him down and draw a cicrcle me who cant even draw a square
Ok ok im liseting
(Edit thanks for 0 likes)
Lmao😂
These shorts never fail to entertain me! 💯🔥
*Car insurance, rent, car note, and utility bills have left the chat*
Rent alone is 50% of my monthly income 😂
money tips for TEENS
@@oliverj.cheese6495 thats normal. It should be around that.
you are helping me so much! Im so scared to go to college, but now im not
When 30% isn’t half what you need to survive
There's also another and a bit more conservative version of this called the 50 30 20 rule. 50 into savings, 30 into needs and 20 into wants.
I sit him down and draw a circle
I tell him it’s imperfect like his spending habits
Imma send this to all my financially irresponsible friends😂
bro how is the circle so good 💀
bro forgot about the 50% to taxes
the circle got a glowup
This is the first vid I saw of this channel!
Yoo, the after time stabilization is crazyyy💀💀
Thank you very much man i am learning a lot
Ngl his writing is so neat
People in Lebanon after not saving in cash:
(The bank accounts 'froze' and the government took all the money inside, and any cash money decresed so much cause like in 2017, it was like 1,500= $1, not it's like 90,000= $1, so if you had savings in bancks they were gone and if you had them in cash the value would have decreased so much that you could barely do anything with them)
HOW ARE YOUR VIDEOS SO HIGH QUALITY
This is why I subbed to you
And that last 40% is going straight back to me as intrest for letting you borrow my $20.
the circle that magically cleans itself strikes again
Bro is the real Google 💀💀💀💀💀☠️☠️☠️☠️
“Blew his last paycheck on hot cheetos” 💀💀💀
Y’all gotta realize he talking about teenagers not adults in apartments
“Draw a circle” *draws perfect circle*
This guy is guiding my life 💀
These are better than high school lessons tbh
In Turkey:You will spend 99 percent for the house taxes
The title of this video should be, "How to lose a friend in 5 seconds"
Bro thank you so much I love your vids I wanted to save money but I just gave up and now I can do it thanks to you ❤❤❤
Don't do this . The value of the money decrease due to the inflation . So just invest the money
12 years of school a life time of freedom
30% of income most likely wont even cover food and gas
I am still in high school so I am able to save 90%+ of my taxed income
I did this lots of times and it worked!!
Taxes: 🙂
Gas would already be like 90% of my paycheck🤨
bro #1 tip invest in lego star wars clone wars sets
ain't no way he think my friend will listen to me telling him to manage his money
Saving is bad, you should invest!
You should also take 10% of your paycheck and put it in a Roth IRA and keep on stacking it. You’ll get compound interest from all the money. You’ll be retired at the age of 40 if you do it at a young age.
If bro blew his paycheck all on Hot Cheetos then he either doesn't give a crap about what he spends his money on or he doesn't even make minimum wage.
im 16 and have had a roth ira since i was 10. it's such a w
Every tip you gave is of interest
that Italian accent in the end😂
In the other 90% goes to taxes
what if my friend didnt spend it on hot cheetos?
Welp saving this for the next 10 years
my sister doesnt do paychecks she does community service for free on the suicide hotline
this is so helpful
Bro i was eating hot cheetos when he said "spend on hot cheetos" 😂😂😂😂😂
I have one of these charts where 35% is for needs 25% is for wants 20% is for savings and the last 20% is for investing
Bro really redrew the circle
i noticed that razer viper mini mouse there.
Bold of you to assume that I have friends😢