Why The Majority of People Will Stay Broke
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- Опубліковано 3 жов 2023
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Best tips I've received: 1. Stay off Social Media - helps stop the comparison game 2. Control what you can control 3. Be Debt Free and Stay Debt Free 4. Life isn't fair, accept it. 5. Don't judge others, we have no idea what journey they're going through. Have a great day! Cheers!
Great tips
❤
🎯
So very true!
Social Media isn't to Fault.
Judging is Good.
My husband always says that there is wealth and the appearance of wealth. No need to compare.
I became debt-free on September 1st. I have a friend who chose to do nothing over the last three years when she could have paid off her student loan interest free, gotten a part-time job saved money. And now she is flat broke. But those of us who slaved and toiled over the last several years are now reaping the rewards. And I started putting 35% of take-home into retirement. ❤❤❤
I totally understand... you look at people and you think everyone's spending money but you. That's because we're saving ❤️❤️
I have a copy of the book "The Tortoise and the Hare". Sometimes I find myself reading it again just to remind myself that "slow and steady wins the race".
I look up to my neighbors. They pick one major project to do around their house and tackle it. Just one a year. Last year they upgraded the roof from shingles to metal. This year, they replaced the windows.
When I want to go ham around my house and do multiple. I think of my neighbors. All within budget. Steady goes the ship!
Don't try to compete with your neighbors with their home improvements because, they may be deep in debt. You just do you!
@@slimdude2011 she said she looks up to her neighbors because of how they plan and only do one project a year and she also said that when she wants to do more than 1 thing she thinks about what they do. It sounds to me like she’s not trying to compete with them but instead she’s looking at them as a motivation to stay on track.
Yeah, I’m still driving my 2008, and my neighbors are buying new cars every two years. Lol😂 until I have the money I’m not buying a new car.
Nobody buys a new car every two years because it's a lease. A person can get a trade in for a newer model every year, when they're leasing a car. Leasing a brand-new car every year would make someone else think it's been purchased, but it's not. It's definitely a lease.
It’s a lease 😂 they not buying them
Keep driving it sister! I drive my cars for 10 years and I buy them 3 years old. Doing this has saved me tens thousands of dollars over the last 24 years. We’ve followed Dave Ramsey since marriage, 20 years ago. Consumerism is a horrible disease. The peace of having no debt is far more valuable. ❤
Jordan Peterson says don't compare yourself to any one. Compare yourself to who you were yesterday.
So true! My friend is in Europe right now. I'm looking at her lifestyle while I'm in BS2, thinking I'll never be out of debt. THEN, I mentioned to another friend and found out she did a loan on her 401k for this. Yikes! Now I'm not feeling so bad.
my sister is $100k in student loan debt and is spending a month in Europe
@@xyla2235 Your sister is out there on vacation, spending money she doesn't have, and with a 100K student loan debt. This is what you call living above your means and trying to keep up with the Joneses.
Same with one of my friends! He took out a large portion of his retirement to fund his European trip too! 🤯😵💫🤦🏼♀️
I find that there are people that are now or later, live now pay later.
Feels like 2006 and the years that led up to it. I was driving a used Oldsmobile alero when the company I worked for closed. My coworkers were driving a new Mach 1 and another a new GTO. Everybody had a nice car but me. I didn't understand because they also had nice clothes and taking nice vacations. I remember one day my coworker asked me if I thought I should get new jeans. Wow! I just looked at her. I was working 6 and 7 days a week/10 and 12 hours a day. I was also managing my rental property. I owed $12k on my property and when I went to the bank to refi to buy another property, I was told I couldn't afford another property. I had worked for 10 hours before applying for that loan. I was exhausted and went home feeling defeated.
Then the housing crash hit and all those rich people werent rich anymore. I'm wiser today than I was back then. I'm saving cash. I'm using coupons and having staycations rather than expensive vacations. I'll go when i can get a good deal on travel. I'm driving a 2010 Altima. I'll buy another car when i can get a deal. Ill alao buy another home like I did during the housing crash. Maybe multiple homes like i did during the crash.
Thisn is why I stay off of social media.
Conversation yesterday:
Coworker: 'Where you parked?'
Me: 'Right here.' *Taps 2008 Elantra*
Coworker: 'This? You need to get yourself a new truck!'
Me: 'That would cost more than I have. Besides, this might be a *blank* box... but at least it's mine. Don't have car payments... or... credit cards... or student loans. My wife actually has the nice car.'
Coworker: raises eyebrow... 'What's she drive?'
Me: '16 Corolla'
Coworker: 'PAID FOR!?'
Me: 'Fully.'
Coworker: *Shakes Head* 'How?'
Me: 'Talk later.'
Alex, I’ll take “Things that never happened” for $400!
We've been struggling to get by on 1 teacher's income, and that's not really cutting it anymore in our current economy. It's hard to go so long making so many cuts while so many others around us seem to have so much more income (especially in the last couple of years with no raises) , but we just paid off our mortgage so that's exciting. Thank you for the important message.
I am a teacher myself, and make pretty good money after doing it for a decade. I can’t imagine, trying to raise a family as the only breadwinner though. My husband works in finance and we do well because of his salary, not mine. Solidarity.
@jill9606 Yeah, it was tough before, but now after years without even cost of living increases, it's really hard! I supplement some, but I may need to find something manageable with a more regular income.
Some places make much better money as a teacher, for example my wife makes $46k, the county over only makes about $36k… granted neither one is great if that’s the only source of income- but it would help!
Thanks for the reminder about 'Gratitude'. I find taking stock of what I have already allows me to take a step back
i would take it further. dont even look at other peoples lives. it isnt your life. its a waste of energy. focus on your own life and stop looking at other people.
Great video. I’ve always been thrifty. Many of my neighbors remodeled their houses in the last several years, from top to bottom. Everybody likes the Farmhouse style, they’ve painted their outside brick white, and for the inside, they remodeled it with all white kitchens or maybe navy blue shaker cabinets. And all of their houses inside are painted gray…they also have gray floors. While it’s pretty, it lacks some originality and everything looks the same as everyone else’s house. One of my friends remodeled her kitchen and bathroom to the tune of 100 k. My house would be considered ‘dated,’ by some. But I love all the things I’ve kept over the years and my wood non white kitchen cabinets. My house is neat and clean, and it’s paid for. I can pay my bills and not worry so much, so that’s a comfort. My friend who remodeled her kitchen may have to sell her house because she took out a second mortgage to pay for it, and she says that lately, she has no money.
Sounds like you’re jealous. Maybe they have high income and are doing perfectly fine. Instead of making comments like that, keep those comments to yourself. It may look boring to you but it’s their money. Let them do what makes them happy.
I always say, a trendy new kitchen still won't guarantee a better cook.
I'd rather sleep well at night following a delicious meal from a standard kitchen, rather than worrying about unpaid debt and how to make ends meet.
@@JonathanIvy221Maybe you're jealous because the commenter can pay her bills and you can't?
Some of these farm houses are just cookie cutters
I’m currently at BS3. I’ll be entering BS 4 this December. I been doing this for a while now and Im sticking with it. I never been great at anything in life and I dont have a lot going on for me so I told myself, at the very least I should be able to stick with these baby steps no matter what.
My peers and coworkers are very smart people and they get promoted really fast and are very talented. The only thing I can do is to be smart about my money and diligently follow the baby steps so I can win in life in my own way.
I think you’re probably under selling yourself, especially if there are your peers and coworkers, you must be out at least at their level
We go on a big trip about every 2 years and save for it. We were in Europe for 5 weeks the summer before last, but my in-laws live there. If they didn’t we wouldn’t have stayed as long. It cost us about 11k for 4 of us, and we did a lot! but again we saved for it. We’re planning to go this coming summer for 10 days to a different country. We’re on Baby steps 5&6 my kids have their college paid through scholarships and working. We drive old paid off cars and cook 99% of our meals. We also don’t post all our business.
I spoke with the bank a told them to take the 35% of my paycheck to put it in another account, a saving account. So automatically they take almost $900 usd per month and that money I can’t see it that means I can’t spent it. My brain now is working with a low amount of money but in the other hand I’m saving a lot.
Very wise words, Rachel.
I am 72 years old. So grateful that my mother provided a great example of fiscal responsibility at a young age. Every point you made resonates so strongly.
My mother preached those same words and walked the walk.
Thanks, Rachel!
I was telling my husband the same thing about everyone going to Europe this summer and we believe they are putting themselves in debt. No thanks. If we ever go it will be when we are in baby step 7 and have cash
Live like no one else, so you can 'Go to France' like no one else!
At least the baby steps saved me from bed bugs 😂
I'm sure many were...wife and I went last year for wife's birthday. You can do Europe for not alot if your smart and don't require some fancy resort.
Been raised to be content with what you have and live below your means and pay yourself first and budget the rest.
Yes... Been thinking the same thing when I'm on Social Media... Like where the heck to these people get all the money to go traveling all over the world all the time... and I just sit here going on cheap camping vacation... but I'm also glad to be able to declare I'M DEBT FREE...
I've never had a Starbucks product. My wife and I have never been on an airplane together. I've flown three times for work. Our home and vehicles are paid off.
You have made many smart choices!
There’s even more at play than income. You never know someone else’s situation. We we’re probably the lowest income family in our bougie neighborhood last year. We we’re single income. We have since changed that, but we sold property in CA and had a massive pile to put down on a home in the Midwest. Here we were driving around a clunker, shopping at thrift stores and garage sales, and eating struggle meals, but we have this really nice home. Maybe your friend got an inheritance or won a settlement. Lots of things can affect one’s standard of living.
Stay away from social media! Deny it all you want, but it slowly creep into your head and will get you to compare, feel bad or missing out on something.
😊
I can immediately tell which of my neighbors are well off and which ones are in debt just by the way they act, what they buy, how they dress and so on. I am positive I would be above 90% correct.
The grass isn't always greener on the other side! Your neighbors may seem to be living the extravagant lifestyle, trying to impress, but you don't know the real inside story. Your neighbors could be deep in debt, which is why they're living that kind of a lifestyle is because they owe everybody.
Give examples of well off vs ones in debt and living in same street. I know how to tell and its usually the people with older 8-10 year old cars in a nice neighborhood. The people with always latest cars are typically just broke people that have a decent income nothing special about that any idiot can finance a 50K-80k+ vehicle.
I left social media in 2021. I don’t miss it at all. I am on baby step 2, and plan to move on to baby step 3 in less than a year
My mom bought her first house in 1980 and her interest rate was 19%. Every generation has sucky things to deal with and they’re all different. It’s why I don’t like to compare my challenges today to the challenges my older family had to deal with. It sucks for everyone. That’s the world.
easy to forget
Ya everyone thinks interest rates are terrible right now….
That house was probably $30K. Much cheaper than 8% on $750K to
And the price of her house to income averaged 4.86. Today it is nearly double that
@@chrisklappich5998 and there is now more than 100 million more people competing for the same amount of land
Thanks. I hate traveling but was wondering what I am missing when I see everyone going on fancy vacations.
You forgot to include, giving 10% of your income while drowning in debt.
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life.
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are some strategies to get started?
It's unfortunate most people don't have such information, don't really blame people who panic cos lack of information can be a big hurdle. I've been making more than $65k passively investing with Fergus Waylen , and don't have to do much work. It doesn't matter if the market is crashing, I will always make good profit returns.
No doubts! The strategies and Al auto trading tools he provides for beginners are very helpful, being part of hid vip signal channel has really helped me as a trader
His strategy minimizes risk and maximizes profits. Trading with him has been incredible throughout the last few months, and I would recommend his strategy to anyone...
his strategy has been helping a lot of traders/newbies out there, with his program i was able to recover my losses from the crash so swiftly
My parents married in 1981, & they both worked, but still rented an apartment for a few years while saving up to buy our first home.
The only way to beat the game is to quit it. Quitting social media is one of my best budget recommendations. You'll be happier and keep more of your money. Just do it already.
Doing the baby steps in order is probably more important than just doing them. The order teaches you discipline and also moves you along at a pace you can handle. I however think there needs to be baby steps 8-10 dealing with legacy. Once you get to baby step 7, you will need to be able to 8) keep wealth, 9) pass it along, and hopefully 10) impart the wisdom in those you choose to take on the responsibility of managing it after you are gone.
Thanks for the video. I work 70 hours a week have no debts and own my house free and clear in a expensive city (Seattle). I agreed with you when I get home I see all these nice cars going out to these fancy places. It does get depressing seeing all this yet I am working as I was a million in debt (I also have well over six figures in cash not including retirement). It feels depressing knowing I can't afford their lifestyles. Thanks Rachel for the video
tips that save lives. Blessings to Rachel and her family.
Well I listen to your dad, live like no one else now to live like no one else later.
What if you died tomorrow? Then what?
You get one life, might as well live to the fullest!
What makes you think I don't . I have lived around the world I have met and learned many things thru all the interactions I've had with people I never thought I wouldd meet. In my opinion I have lived and I continue to do so Dave Ramsey doesn't tell you to not live ,just do it differently.
@@marilynvelez8147 I’m not waiting until I’m 90 to enjoy the fruit of my labor.
I got it all by 30 and regret nothing.
No I’m not in debt so don’t even try.
@@15KHPCLUB
Maybe your definition of 'living life to the fullest"
needs some changes.
@@robertwalker5521 I don’t think so
But you enjoy your empty and boring life.
Such a heartfelt smile in the thumb from someone who will never be broke.
This is a great message that we all need to hear.
Great video Rachel ! Thanks.
I love this! Everyone is fighting a battle we don’t see. ❤
Love Love these reminders!
You’ve helped me to regroup my thoughts!
Being content! Working on getting out of debt is 😖😣 can’t wait to reach my goal!
Great video ❣️
Thanks Rachel 😊
New subscriber, your 100 percent on point .
Ouch! I just finished reading all the comments, and can I say, ouch! Stopping and looking inside to know the Y, and to keep your eyes off the Joneses, that will be the best way to succeed. Thank you for your message, Rachel. May be super helpful for people to begin to eliminate people from their Facebook. That’s what I have done to keep to keep my sanity!❤
One of my favorite vids from you and the team Rachel. Sincere, metered, realistic foundational advice and relatable to most.
Love this video… Great reminders, so much rides on our Attitudes and Gratitude. I have a habit of of forgetting that often
So wise!
Needed to hear this! 👏🏻❤️
Social media felt like it was a summer long party in Greece and Italy this year. 😂
Excellent presentation, Rachel. We have close friends who have taken two lavish vacations this year, live on credit, and owe to three tax agencies. Go figure.(?)
Thank you, we appreciate your sweet nature, and education!!!
thanks Rachel! Another great video, always enjoy your encouragement to keep going on this journey to create a life we love.
Thank you for this video!!
Much love to Rachel ❤🙏
One of the best ground to earth common sense video
I’m so glad you’re talking about this. I’ve been struggling with this and wondering how they’re living and I’m existing lol.
You are doing just fine😂
My sisters been going on a vacation/trip every other weekend with her family of four and I’m so jealous and wondering how..
Ask her.
got out of the market when joe got in
widower with MORE than enuf to get me to the end
'you don't need as much as u think u need.''
I met several folks on a trip to the Caymans & had a blast...
One of the boisterous folks I met during that trip chased me down for a $60 reimbursement of a bar tab...I get the principle, but a little too much on the frugal day after/hangover-side if you know what I mean...
This person called me the other day to check on me & mentioned that they spend it as fast as they make it....& these folks arent spring chickens....
Live your life according to your values & let ppl be ppl.....
I hear you I've been feeling a little shaky myself but I went in to lockdown mode 3 months ago, in lockdown mode "If I can't eat it, I don't need it" been pushing everything to my trading account building up dry powder waiting on some kind of crash before the big red tag sale!
If you’ve ever seen homeless, you’ll save
love it
I had a great summer. No trips but i saved up 12k 😊
I'm broke because of drought and a dying industry and inflation
There will ALWAYS be those who seem to have more, and who are able to do more. Bottom line; you can't measure your success by the success of others. Different people have different "starting points." and circumstances. You can't and shouldn't measure your success in comparison to someone else's. Look at where you STARTED, and where you are NOW. And keep moving forward towards your goals. We ALL have different paths, definitions, and timelines when it comes to "success.".
People in this comment section is always complaining about struggling if most would make it habit to save something from their paycheck at all times instead of going out to eat at restaurants almost every single day buying Starbucks which is now $7 a cup where I live at I will not waste money like that I ask someone how much who was standing in a long line waiting most of you are shopping for designer clothes and shoes I always save something automatically each paycheck for emergencies being broke is a mindset most need to work on & yes my husband & I live in Washington state cost of living here is higher than average but we manage our money
Facts. They hate the truth. Always looking for an excuse to poor habits and behaviors
Yes, I definitely agree! They missed the whole point of the video and are taking their anger out 😅
Yea, I don,t use social media anymore, it's too easy to get jealous.
You are never gonna be debt free as your country owns money to someone...In the US, this amount is particularly high, so you have to contribute via taxation.
Yep, discovering the tricks, can be fun. Like how did I manage to pay a fixed amount of only $4.60 per day for my nicely carpeted one bedroom apartment, for EIGHTEEN straight years. Plus I figured out how to purchase groceries for half the normal price, even though I am shopping at one of Canada's biggest and most popular stores. Fortunately, the methods used here, if suddenly known of by the masses, would collapse altogether. I say that this is fortunate, because it at least keeping it quietly going provides savings for those who really need to cut costs down, and thus bust the butts to find out how to do it. Plus I do other things like keep my 2004 stainless steel microwave oven going, via a few repairs over the years. All repair parts came from other folks ovens that they had thrown out for disposal, and thus these parts cost me nothing. Or one of my computers dies and so I repair it by repairing the PSU for about $9.95 worth of electrolytic capacitors. Or the SAMSUNG S23B300 computer monitor brick power supply dies, but I repaired that for a zero cost. Or the repairing of my 2001 Palm m505 PDA, which I still use on almost a daily basis. Oh then there is my 2010 SAMSUNG TV that I repaired by replacing just 1 electrolytic capacitor for about $1.58, and that TV is still my one and only TV to this day. Plus there is the motor of 23 year old DANBY air conditioner, which I repaired when it broke down by simply replacing the oil in the oil felt pads that had dried up completely. I repainted it as well, and so today it looks as good as new and is working perfectly. And of course, for over 10 years I had not thrown any food out at all. The pattern was only broken when I did not consume some peanut butter fast enough, and thus had to throw the jar out.
Rachel is so adorable. I never hear what she says😂
Live it
Our neighbor had mentioned to us one time that it was difficult for them to keep up with us like the Joneses, and the sad part is i believe they were serious, were not real showy people we live below our means for the most part, don't go on expensive vacations, not in an expensive neighborhood (we could be if we desired) although we have done mostly necessary upgrades to the house, and have a couple new vehicles that are paid for, at the end of the day we're not out to impress anyone we have worked hard for what we have!
I know broke people who go on vacations to make people envious on social media😂. Stay off social media and stop comparing yourself to others.
at 65
my friends and neighbors look at me when
i say i don't do SM, i wear it as a badge of honor.
My parents couldn't keep up with anyone so I gave up in my youth. Now I can buy a lot but know better not to. Sorry Porsche. Sorry Ibanez. Sorry Coronado.
The one tip I NEVER see on this type of advice videos: maybe we're consuming TOO MUCH content.
I agree, so much content out there now, can get very overwhelming. Gotta focus rather than consume more. Find a strategy that works well for our personal and professional goals.
In the year 1900, the average American home featured just 1,000 square feet of usable floor space.
The median size of a house sold has gone up in size over the past two decades, from 2,077 square feet in 2000 to 2,333 square feet in 2020.
Running water wasn't even a normal thing people had in 1900. Washing machines weren't mainstream till the 1950s. That is right around when electricity went mainstream as well. Building codes and laws around these things have only multipled, and those laws of course create more costs. Higher safety standors = higher costs.
Today, our homes are larger and more complex. Homes are more expensive because literally the homes we build are more expensive. We aren't living in 700 square foot shacks with no water and electricity anymore. Drives me nuts when people compare themselves to previous generations cost wise when those previous generations didn't have what we have.
Vacations are on the new go now and pay later plans and new Era online layaway plans. Not actual credit limits, but monthly payment plans. Pay off, then request again for approval. what you are seeing for travel. travel access for many people with stable jobs.
NOT ME !!!! LOL !!!! I still drive a 1992 Geo Metro worth about $500 !!!! LOL !!!! But I own 6 homes that are 100% paid off debt free !!!! LOL !!!!
The down payment on a house in Florida is currently higher than my parents spent on their house by about 5k. Their house was bought in 1991 for 98k, I Did the math and saving $ 5,000 a month we could afford a down payment in about 20 months. and that's for a 30-year mortgage the median household income is about 75,000 if they have a savings rate of 20% it would take them approximately 7 years to have a down payment. by then I'm sure the market will crash and they will be able to finally own a home. by that time they will be between 34 and 49 and will only have to work till between 49 and 64 on a 15-year mortgage or 64 - 79 on a 30 and that mortgage would still be 61% of their monthly budget
Yeah like everyone around town seems to be driving a Tesla and cannot possibly see why or how, in my area, could so many truly be able to afford them.
It's weird, because I am not a millionnaire yet. Yet. But I am on step seven of the babysteps. So I am probably doing something right. LOL That's not something that I did overnight. It's something I did start doing back at the end of 2014. People are really something. I work in the tourism industry. Well in the parking lot there is not so much pretty cars. But. But people look like they have it all. But spending did stop. Some people just select the lowest enough accommodation. But they don't spend more. Time did change. What's the point of having an Escalade if you go to the food pantries? I didn't get this one? Tim Hortons is full everyday. The line is so full. Dawm. Everything is under control. My eye! I don't know exactly what is happening. Who knows. It looks like babies not wanting to change their behaviors.
Imagine one adult has to go online, and speak to other adults about how to feel about watching adults online.
While generating income from being watched online
"When I'm scrolling through social media..."
Like the mechanic says: "Well THERE'S your problem!"
The people who created social media don't allow their kids to use it. That fact should speak for itself.
We started investing finally in 2022 and we are just losing money 😭
The majority of people will stay broke for two reasons.
One, they don't make enough money and never will. Some people simply don't have the skills or ability to get a high paying job. Also, people have families. When you have children, stability takes precedent over advancement in most situations because advancement involves some level or risk, or taking more of your time that you could (should?) be spending with your family. Also, some areas of the country just aren't that safe to live in. If you need to be at a certain place for work, and the choices are either "over spending" to be in a good area, or spending less but being in a bad one, I know what choice most people will make.
The second reason, and the one I'd guess this video is aimed at, is people who are trying to keep up with the Jones'. Those people actually do make enough money, but they tend to spend more than they need to. They get the million dollar house instead of the one that's till decent at 700k. They get the 120k Benz instead of the 60k Audi, or the 35k Camry. Those people could lower their standard of living to a still acceptable amount and be fine.
The problem is when you have a lower income and have health insurance costs you can go bankrupt quick.
This right here is why the Money guy show is the best. They spend time trying to help rather than passing judgement, which is what the Ramsey family does. Sad really the satisfaction Rachel gets judging others! 😑
They do don't they. He lost all his money, made money again, and she's riding off his coat tails. Has no idea what it really is to flip a hamburger, live in an apartment that the landlord won't fix. She's talking about keeping up with the Jones, and flying to Europe. Meanwhile, the rest of us are truly struggling. We are debt free and own our house, but our hours have been cut, we will be lucky if our take home pay amounts to 30 thousand this year. Rachels channel is for the upper class trying to be millionaires not for us normal working people.
I can’t believe all of the prices on facial care. Then all of these vloggers use like 3 or 4 at a time. I have a hard time buying one
I shamefully admit that I have not been the best with finances. So I always felt I needed to increase my income. I had to work very hard to do so, and I think, shamefully, I finally reached the point of freedom. I went from 42k to 64k, then to 81k, then to 96k. And was STILL living paycheck to paycheck. Recently, I received a massive opportunity and I’m now at 166k. Oh man. The breathing room! I can now finally invest, plan for retirement, and enjoy life a bit more. I’m 31, and hope I’m not too late in my journey. First stop, paying off all debt!
Your doing good cheers, im 29 about to be 30 and have thousands of dollars in debt 😢
I had very good paying jobs finance all through my 20s, but like you as my income went up so did my expenses. When I was 30 I started a business and basically had to reset all my habits to be able to afford to try and make it work. This time when I started making really good money and paid off all my debt 5yrs later. I spent the next 8yrs saving/investing 50-80%. Hit millionaire at 40, multimillionaire 2yrs later. Never too late
@@jgreen6139 I love to hear it! That’s my goal. Keep living as if I’m making 100k, try to make the other 60k or so work for me. Thanks for your input!
Average folk going on the internet for a "black hole" is comparison journey and doom scrolling on social media?
My black hole on the internet is a wikipedia journey of how the Roman empire fell apart, the obscure development of underground MMA, and current events in satirical dank memes on social media
We ain't built the same
The only person you can truly compare to is yourself, from a different timeline
We are all spending at least $400 more per month for everything.
Probably because you told them in a previous video that, even if they were dirt poor, living paychecks to paychecks that it would be a GOOD IDEA to have another pregnancy/baby, went they couldnt afford the ones they already had.
You should never ever Try to get pregnant, be active in getting pregnant or staying very early pregnant if you have zero money.
When you are financially in a good place and have a secure ( as in I dont have to worry and I can afford the rent/mortgage). Then you should have a small family.
Children raised Poor and lacking in food and clothing and going hungry dont do well and seeing mum or M&D is NOT good for them..
I only our Federal Govt knew how to say NO , we cant do this now, or actually set a budget!
Live below your means. Ditch the 20 streaming apps, Starbucks, titanium iPhone and restaurants and save. Very simple
With the holidays approaching, it is important to set reasonable expectations that limit the materialistic values and marketed purchasing culture. It can seem that everywhere you turn people are wanting your dollars. Simple plans that focus on people rather than things, and less stress to "compete" with others will make the holidays more enjoyable overall. Not every room needs to be decorated to the max and don't go overboard buying gifts. Make the holidays more about loving the people in your life, rather than things.
Can anyone tell me…?? me and my husband both have Roths, no 401ks… should 15% of our income go in to each one? Like 30% total? Also, I stay at home with the baby right now so it’s just his income… thanks y’all!!
15% of gross income for the household.
You'll have one pile of cash when you both retire for the house
Well 15% of your income in yours and 15% of his income in his is 15% of your total income.
You can't put more than $6500 in each Roth IRA per year unless you are older. So the max combined you could invest is $13,000 a year in your Roth IRA. If you are a high earner, $13,000 is less than 15% of your income, so you'd need to do more than just the Roth IRAs. If 15% of your income is equal to $13,000 or less, then both of your Roth IRAs is all you'll need. If his job offers a 401k match that is usually a good option too, because the match is free money.
Almost all the millennials I know have bought houses if they wanted them. Millennials are largely in their 30s and even early 40s, not 20.
They are just in debt on plastic