Living Together On $178K A Year In Chicago | Millennial Money
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- Опубліковано 26 чер 2024
- Dylan Gutierrez, 30, and Jeraldine Mendoza, 29, live in Chicago, Illinois and earn a combined $178,000 a year as professional ballet dancers. The couple is engaged and owns a condo near Wrigley Field.
This is an installment of CNBC Make It's Millennial Money series, which profiles people across the U.S. and details how they earn, spend and save their money.
Read more about about their budget breakdown here: cnb.cx/34CpHiE
Dylan Gutierrez, 30, and Jeraldine Mendoza, 29, are preparing for early retirement. Unlike most millennials, they don’t have decades of career advancement ahead of them - at least not as professional ballet dancers. Most dancers retire by 35 or 40, and with that in mind, the couple is diligently saving a big chunk of their $178,000 combined annual income in anticipation of their next act.
They’ve spent their whole lives in the ballet world - Gutierrez grew up learning from his mother, a professional ballet dancer and instructor, and Mendoza started taking her first lessons when she was 5 - and they know that the physically demanding profession has its limits. With just a few years left as dancers, they’re already beginning to make plans for new careers in the arts.
Gutierrez joined the Joffrey Ballet in Chicago in 2009 and met Mendoza when she joined two years later. Their connection as partners in the dance studio was instantaneous, Gutierrez says: “We crossed paths immediately. And, you know, the rest is history.”
In the years since they started dating, the couple bought an apartment together, adopted a Boston Terrier named Kahlua and got engaged in the summer of 2019.
Their finances are atypical in a number of ways: They usually earn a steady paycheck 10 months out of the year during the company’s season. The rest of the time they focus on earning money through side work and also qualify for unemployment benefits, which combined made up 20% of their 2019 income. And because of their younger retirement age, the couple has spent the last few years getting serious about their savings, setting up streams of passive income and preparing for their future careers and lives together.
Here’s a look at how Gutierrez and Mendoza manage their time and money as professional ballet dancers in Chicago. As lead dancers with the Joffrey Ballet, Gutierrez earns about $77,000 per year, while Mendoza earns about $66,000 per year.
Both make additional money by teaching dance classes and performing in other companies’ productions. Dancing in “The Nutcracker” productions around the country during the holidays can be especially lucrative. Last year, Gutierrez earned an additional $15,000 through work outside his Joffrey contract, while Mendoza brought in an extra $20,000.
Gutierrez is eager to dispel the myth of the starving artist and show how you can earn a good salary in the arts. “If you’re a ballet dancer, you’re not doing it for the money,” he says. “You’re doing it because you love it and it’s something you’re passionate about. But it is a profession that a lot of people make a very, very good living in.”
Like workers in countless other industries, the couple has been impacted by the Covid-19 pandemic. When the coronavirus tightened its grip on the U.S. in March, the Joffrey Ballet ended its season early. The company guaranteed dancers’ pay through the remainder of their normal 40-week season, which ended in May. “We both were very fortunate,” Gutierrez says.
Typically, during the summer months when Gutierrez and Mendoza aren’t working for the Joffrey, they file for unemployment benefits and make up for lost income through extra projects in the dance community. This year, they were able to file for benefits again and were eligible for the additional $600 weekly stimulus pay provided under the CARES Act.
With the additional benefit, their paychecks were just about equal to what they’d normally earn from the Joffrey, and they used these funds to cover their normal living costs, medical bills for Kahlua and a little more online shopping than usual.
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Living Together On $178K A Year In Chicago | Millennial Money
What’s your budget breakdown? We’re looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
Please help me plzz my mother health paoblem madam Garu help
Money 💰 please help 🙏🏻🙏🏻🙏🏻🙏🏻
Come to Milwaukee, WI do a story on the real deal with millennials and money
I make a little over $15K a month on average from work, and a negligible amount from capital gains. I spend $800 on rent and utilities (I have a room mate), $600 on transportation, $500 on food. $120 on internet. I save $4K a month, and I have $70K in various retirement accounts. $5K in savings, $5K in car / credit card debt. No student loans. I'm 25 and I live in Raleigh, NC.
@@jose-lael What do you do for a living?
here's my breakdown:
Wife and I are 32 and welcomed our daughter 2 months ago.
Annual pretax: $145k
Mortgage principal: 181k
15 yr conventional/2.33% interest
Monthly total burn rate: 4500
(Includes 15% 401k/403b contributions from both of us and 12k annual roth ira contribution broken down)
Monthly savings: 3000 (goes into high yield online savings account)
Emergency fund: 25k (in the high yield account for liquidity)
Plan: start a 529 or esa to fund baby's college; pay off house in 10 years (or less!); both of us only work part time by age 52 for insurance.
Were comfortable currently but having this wonderful daughter will change the budget some. What do you guys think? Thumbs up if well be ok, or comment to guide us to the right direction! Thank you all! Keep these vids coming!
You spent $30,000 on renovations to your kitchen and you dont use it? OK
🙄👍🏻
It's still a good investment because they will be able sell or rent out the apartment for a higher price in the future
@@Deeperella Wrong.
I think that 30k reno includes the bathroom(s)....at least they use the bathrooms...I think. They may poop out when they eat out to save money.
I bought a property in Chicago about 2 miles from where they live at the same time they bought their unit, and I renovated the whole thing for half of what they spent on 3 rooms. They make a ton but aren't good at managing what they spend.
$2885 per month on food?!
Renovated kitchen: am I a joke to you?
😂😂😂
omg best comment ever >.< :D
Hahahhahahaaaaaa funny way to look at it. =D
🤣🤣🤣
Literally laughed out out haha
Signs you come from a rich family:
-Chicago apt near Wrigley Field
-Parents are artists
-Professional Ballet
-$30k kitchen renovation
-$3k month food
-"My parents philosophy on money"
-Giant blood diamond
-"I don't really budget"
-"Raised in San Fransisco"
-$20k on my dog's chemo
-"We're going to get married in Italy"
-"We don't make that much money" = $178k
-"My parents real estate investments"
-"We're going to retire at age 35 or 40"
-STILL COLLECTING UNEMPLOYMENT
I just love a heartwarming story about the rich :)
Lmao. To be fair, if she was raised in San Francisco, that was before the big major tech booms. I know a lot of people who were raised there and not necessarily rich if they didn’t invest in property early. But yes your checklist is true in every other sense
Honestly this is the only thing that makes sense
"We were really upset it didnt have a parking spot....we dont have a car".....okayyy
Hey the dog having cancer has nothing to do with anything
@@watchanime331 but she says her parents bought multiple properties, probably before the tech boom, so they are definitely rich now.
graham will have a seizure when he sees the food budget
RIP Graham!
Bruh I'm over here living the GOOD life with $300 a month
Probably eating organic food. Those ain’t cheap
@@remoir6273 but it definitely does not cost more than 2000 dollars a month
@@remoir6273 they said takeout and as someone who lives in Chicago with the same income, I would have a heart attack paying that much. Heck I cringe when I spend 100 bucks for two people eating at a restaurant.
$1,762 on takeouts?? Are they ordering internationally??
Seriously
😆😆😆
😂😂😂
It’s $58 a day! I don’t understand
Lmaoooo 🤣🤣🤣🤣
Their food budget being more than their mortgage is hurting me lol
LMAO that’s what I commented. I’ve never see anything like it before,their hole budget is a mess
Same!
girl: We don't spend money on water bottles, coffee, nails.
The same person: spends $1000 on a dog and $3000 on foods :|
They put down $15k on $338k is put financially suicide.
THERE ARE JUST LIVING LIKE MOST AMERICAN BEING TOP 5% INCOME EARNER IN USA. SO SAD
It’s Chicago. The only people who really cook at home are the people who can’t afford to. If everyone could eat out everyday they would
@@SOGFLY1 couldn't be more wrong 😂 I think you mean most who don't mind their budget or pay into a 401k, as the subject matter shows.
These videos are a healthy reminder that no matter how financially "successful" people can be, there is always room for error and improvement, and having money doesn't necessarily mean someone is "good" with money.
I know I’m gonna sound like a jerk for saying this, but Jeraldine is a rich kid, she’s not worried about saving as much money as she should be because they’re a phone call away to bail her out if the worst happens. She said her parents own real estate in California and she plans on moving back there when she is done with ballet and owning real estate. AKA, she plans on managing and eventually owning her parents real estate. Just stating the facts.
Exactly
DING DING DING!!!! Listen it's cool she has privilege. She can't help that, but I wish this was discussed in the video.
Being rich doesn't mean one must be careless with money though. Being rich and being wealthy aren't the same thing. I work in the private wealth industry and our clients are extremely strict with how they spoil their kids. There's a client whose child wanted to play golf and he told him 'that's a hobby, here's a business,if you can make a success of this,you can play golf to your hearts content'.
The one's that have unnecessarily spoilt their children had to pay for flats that their unemployed kids lived in and are now way behind on their rent. If you don't teach your children to be responsible,you might as well kids your hard earned money goodbye.
$3,000 for food? Are they eating gold?
🤣
Ballet dancers burn more calories, so they need to eat more...my guess?
Caviar only
😂😂lol
My wife and I have 5 girls and 2 boys and we eat very clean and healthy due to my kids being in competitive cheer, wrestling and BJJ and we don’t even get close to $3k on food in a month.
*We're savers.* Has 13k and 5 years until retirement.
lol!!!
Spends $20k on a dog
@@blacksamuraisoffendme The dog has cancer and they spend it on chemo, I don't think it would be usually so high.
13k is way more than most 30 year olds have altogether lets be honest here
@@jasminebernardeau4 Earning $178k is also more than most 30 y/o. Saving up 1-2 months of income in 7 years at the Ballet isn’t that impressive.
Think how frequently you could go out for dinner once the condo is paid off if you put that food budget to the mortgage...
!!!!!!
@larry_the_villan they do need to eat healthy but that doesn’t mean they can’t cook. Even if your spending a lot in quality food there is no way their food budget will be that high if they are actually making their own food.
$2,900 per month on food? 😳😳 I would not consider that a "saver".
Expenses are relative to how much you make.
@@marlagordon3848 I'm sorry, I disagree. A cost conscious consumer does not inflate all of their living costs with their wage growth and a couple making only $178k really cannot reasonably afford to spend $2,900x12= $34,800 per year on food especially when you take into account their other expenses. They are living wayy above their means overall, they do say they are savers but that is completely untrue due to how much they earn relative to their savings/retirement account balance which is less than they spend in a year on food. The picture looks even more bleak when they say they will retire in 5-10 years.
@@marlagordon3848 I'm definitely on board with people eating quality foods but theres no reason to spend $35,000 a year for food for 2.
@@marlagordon3848 Yea, and they make 178K pre tax. What percent of their take home income is being spent on food? Easily 25%+. It's far, far too high.
@@treygray2817 yea, I make more than them combined and I spend $700/month. They spend wayyyy too much on food and not enough saving/investing.
Meanwhile actual disadvantaged and impoverished people are literally crucified for collecting unemployment...
Literally smh.
Don't get me wrong but could you explain it to me.Im a foreigner so I dont know
@@triptinath5675 Unemployed people in the West usually get benefits in the form of cash and/or food stamps. Most of it is funded by taxpayer's money, so a lot of people tend to look down on them.
No offense but you guys are walking contradictions. You don’t spend money on the nail salon, spend money on water bottles, or coffee which are not that expensive. Yet, your food budget is insanity. Are you eating caviar???!!! You guys need to be more focused especially since you don’t invest!! Moving back to California, everyone is getting OUT since it is so expensive. Move to a place with no state income taxes. Inflation these days is killing us all with the cost of everything. Think that through a little more...the 37 year old version of you guys will have a very different view. Trust me!
I agree 100 percent plus another thing that is really bothering is NO Retirement Plan just Pension!! Instead of wasting all that money on food they could be putting that Money into 401K or Roth etc.
Living in a no income tax state isn't great as it's cracked up to be. Any big city in Florida rent prices are exactly the same as Chicago's.
I live in California. There are no houses here to buy at this point so the giant Flight people are imagining isn't really happening because just as many people are moving into the state (trust me-- those of us born and raised here wish there would be more people leaving so we could buy). Also, we have one of the lowest property tax rates here soooo there's definitely a ton of benefits to living here.
She said she doesn't get most beauty services done and they don't drink coffee and stuff. They might as well buy those things with that extra large food budget. Omg
“We don’t have a 401k. I don’t like the idea of waiting to see the money till age 65. Especially since our retirement age is 35-40”
What??? This is disturbing on so many levels
but they still have some type of pension plan.. just a different type
@Will Jacobs whered the money go ? drugs and alcohol?
Suckers aren't they.
What is their second career after ballet? Teaching ballet or choreography? Coming up on them soon.
We’ll be supporting them with unemployment till Covid is under control. I thought I heard them say they want to move back to Cali. They are nuts. What job can they get out in Cali dancing to make that much. Better get her stripper pole out.
"I cut my nails myself!" Like WOW!!!
Everyone is talking about their food budget, while I'm thinking how are they not investing in anything? (other than their current apartment)
Apparently they don't want to wait that long to see their money but contribute to a pension, which after hearing horror stories about people only getting around 50% of the money promised to them after a company goes belly up, has me cautious.
They save, have a pension, and plan to rent their home in the future.
@@marlagordon3848 they must have just started saving. They said they save $500 per person every week. That’s $52k a year. They didn’t have that much in savings. But regardless they could be making so much more money by having that in an investment. This year my returns have been 16% on my money.
Exactly, is very little savings with that combined income. But that food bill though....that is is a take home income for some people.
her parents also invested in properties, most likely those properties will be passed down to her and she'll have all that extra income from SF
"Obviously we don't make a ton of money", seriously what do they think a good income is? 180k a year at 29 is stupid good money regardless of where you live.
Except maybe california
For combined income in some uber expensive American cities it's not great.
maybe to you
not for 2 people..
Well individually they don’t.
Wow that’s the largest food expense I’ve seen! About $50 a day per person. They eat GOODT!!!
Right?! I’m honestly having a hard time imagining how that’s even possible!!
Exactly!
Ivan Drago
My wife and I have 5 girls and 2 boys and we eat very clean and healthy due to my kids being in competitive cheer, wrestling and BJJ and we don’t even get close to $3k on food in a month.
I had to pause it and rewind! They’re eating GOODT, GOODT!!
I live in Chicago and I don’t doubt it. You could blow through money going out here easily 😕
"We don't make a ton of money"
...
*Spends more on food than they do on their Chicago mortgage.
I see I'm not the only one aghast by their "food budget" . She claims its a waste of money to buy water bottles but it's cool to buy takeout each week?! Whatever happened to meal plans and cooking your food?! 🤔😐🤷🏾♂️
AfroAngola They could save that money and put it somewhere else like retirement!
@@andreasschollmann8084 lol and also spending 10k for a dog ? like okay lmaooo
suddenly i don't feel bad buying a case of water and spending 2k less for food....
bruh let them enjoy their life lol
Every week? More like every day 3 times a day with that budget lmao
I don’t understand why he keeps saying they have strict saving rules... when he only has $13k saved at 30 years old
... and he only has about 5-10 years of dancing left. They aren't saving enough.
She has 35K and he has 13K.
Let’s not forgot he said he spend a lot for her ring looking at the size of that diamond 💎 he spend more then 5k for sure maybe also he’s the one that front the bills more or pay often when they go outside he seems like a gentleman... but I agree they spend to much I get the dog but the food and take out is too much!!!
I just want to say thank you to these two for being profiled. I think very few people know how people can realistically support themselves in the arts. This was different, and I'm glad we got to see this kind of career diversity.
Them: "Obviously, we don't make a ton of money ..."
Also them: *buy food for 3k a month
dude their body is everything, they need to perform at their best so food is a big investment
@@MasterofPlay7 Still..... That is absurd for how much they make
@@MasterofPlay7 You can eat right without paying more than your rent every month....
@@andreilyas1426 maybe they take supplements or other special drugs? who knows
@@KennyakaTI they exercise 6+ hours per day then representations and are still very slim ... Ballet dancer eat loads and snack on the side the whole day. We cannot compare to what normal people do.
My take away from this video is that I’ve never been so excited for a Graham episode
$1,600+ a month on takeout and they file for unemployment? This is what’s wrong with our system.
That’s what I was thinking like u make 178k/ year and u filed for unemployment? 🧐 R u serious?
Glad someone else noticed it.
That's standard practice across all ballet companies. They are given contracts for the season that are renewed year-to-year, and they're expected to file unemployment when they're not performing.
“My philosophy is if you don’t need it, don’t buy it” meanwhile spends almost $3k/month on food lmfao
Edit: The more I continue watching this the more funnier it gets. “We have a strict saving rule” yet they’re barely saving lol
To be fair you do need food
@@Caswell19 no need to spend 3k tho bruh they crazy
I’m afraid to know what they think is splurging...
@@Caswell19 100$ a day for two people. 50$ per person. 17$ per meal for breakfast, lunch, dinner. 17$ per meal. For what?
That dog has a higher monthly budget than me!
It is for chemo treatments
😱
Same here 😂😂😂😂
At least they love their dog. 💕
BTW picking paint finishes and cushion fabric is NOT what Interior Designers do. 🙆♀️🤦♀️ If you like "picking" finishes you can try to pursue a career as interior decorater. Interior Designers are Architects for internal spaces.
I def need a breakdown of where they eat at! Like what restaurants are so good that ur eating all your meals out. And what groceries are you buying for 500 a month where you still eat out that much? Is there massive food waste or...?
This was such a good episode lol
Any restaurant near where they live has food good enough for takeout 3 times a day.
@@nibirueeah, plus they work downtown + tips and stuff. I could understand if it were like $1,700 on both take out and going to restaurants….
But about $1,700 in take out is pretty wild if you consider the $500 in grocery + the restaurant $$. I can see how it can add up to $1,700 for takeout alone….but I also question the additional $500…if that makes sense. It’s not shocking that groceries especially at Whole Foods can costs that much… it’s not wild that with Ubereats & its crazy fees you can end up spending $1700…it’s not crazy that you can spend $1k eating at restaurants a month (if u have the $ 🤷🏻♀️)….
but if they’re already spending so much on restaurants and/or takeout and/or groceries….they could probably cut one out!
What they say and what they actually do are polar opposite lol
hey some people think saving 5k a year is a lot some don't but yeah they are not small spenders by any means of the word. I have newfound appreciation for my parents now and how "frugal" they are
That seems to be the trend here on Millennial Money.
Dylan says "obviously we don't make a ton of money" when they're actually upper middle class and make about $65,000 more than my husband and I do in Chicago, and we feel grossly overprivileged at our income level. Maybe you don't feel like you make a ton of money because your savings are pretty low for your income level, but stop blowing $2000 a month on food (if you didn't dance, eating that much would make you morbidly obese). We spend around $200 per month on food in Chicago.
Yeah
I feel they're...
Out of touch..
I make $500 less a Month than her take out bill
Soooo
@@asrarsyed2618 I probably live a mile from them, and my food budget for two people is $250. We cook most of our food and have been eating out only once a month during the pandemic. I think they're getting high end restaurant meals daily.
@@nataliefontane How do you have a budget of $250? Me and my wife cook at home(live in a lower cost of living state) and ours is about $450. We bulk up at Sams club usually once a month. Then we go back to the grocery store about 90 dollars or so each time.
Okay, these two are an interesting pair. They’re clearly not living in the real world.
Lol 😂
Am i the only one that's mad that they file for unemployment???
You aint the only one.
If they qualify, they qualify. Employers pay into Unemployment so if an employee loses their job, they’re covered. It’s not like YOU are paying for their unemployment benefits. They also got the $1200 stimulus because their incomes qualified them.
Well actually...our taxpayer’s money pay for their unemployment so the comment here that says we don’t pay the unemployment...we actually do
Less than half of their yearly salary saved up and they are talking about retirement 😂
Ballet dancer retirement is 39-42 years old ... they'll have another job later. it's not the normal people retirement
@@elisemarcus5996 yes, even more alarming. If you know at that age you are no longer going to be able to do ballet, prepare ahead of time in case things don’t pan out or a drop in income
But what if he falls and breaks his clavicle
@@iro3952 most ballet dancer have a second career, she wants to get into home design and he wants to have an artist platform. they make $178k per year, they'll be fine
Exactly. I have 250k saved and I’m still paranoid. Lol 😂😂😂
*So are you going to tell Graham about their food budget or should I* ...✅😅😅
😂😂😂
Leave them 😂😂😂😂😂😂
We might need to hide this one from him 😂😂😂
Graham is going to go crazy!
lmaoo
Almost 3k a month on food/eating out? Does their house not have a kitchen? Also, given that their careers have such a short shelf life, I think they should be investing more instead of or in addition to their savings.
Ha! They actually mentioned $30k in renovations which included the kitchen -- they might as well not even bothered w/ that $1700 takeout tab. I don't know what their pension entails, but even if they stop performing at 35, they can absolutely continue to teach well into their 50s, and I think ballet falls into a category of expensive ($100 to $150 / month for classes as a child?).
The two also mention family, one of which invested in California property. It isn't a stretch to consider those estates fall onto them, to some degree, with their passing. There's a ton of unrealized money held by those in their 50s and older these days. For example, some Chicagoans who purchased homes in "troubled neighborhoods" in the 90s, like wicker, logan, bucktown, etc., are now in a position to realize the appreciation of those investments: Buy for $30k, put $100k into it over 25 years, and then sell for $500k.
They should absolutely be investing much, much more, but their lifestyle may not require it. If some started maxing out a personal IRA at the age of 20, by the age of 67 they'd theoretically have 1.5 million. It isn't a stretch of the imagination to assume this couple has that somewhere already, just not in their possession.
But, who knows! I could be horribly wrong and they'll be struggling for years to come. (Which I doubt.)
wE dOnT buY wAtEr BoTtLes
@Will Jacobs 😂🤣
@@PRESTOALOE Great points. I’m sure they didn’t exactly put everything out there so nosy people like me can scrutinize. You’re right though about properties and lessons. Plus if they play their cards right, they can easily leverage their current place. It’s also worth noting that they don’t have student loans, so they’re actually doing better than many people.
I'm a single mother in the Chicago area. Our ENTIRE budget for the month is $3000. That includes mortgage, bills and all that jazz. I'll cook dinner for the couple for $1700/mo! :D
These people are spenders not savers lol. Expensive material objects and a ridiculous amount spent on food. They need some help.
Agreed. Spenders. Not a single ounce of savings for them. This is a joke. They've been blessed with good careers with their physical labor in ballet but that doesn't last forever.
They need to talk to Graham Stephen
I literally find it impossible to spend that much money on takeout. That sum is just insane. I live in SF and I don't think two people can spend that much money on takeout even if they want to. Do they eat Caviar?
@Never lose sleep over the small stuff okay?!!
they're collecting unemployment to spend on "a little more online shopping"?
How do you spend almost 3K on food??? Graham's going to have something to say about that!
Probably dining out everyday.
I bet they don't know how to cook
20 cent ice tea for the win. 😂
@@xsweetheart293 yeah it’s not hard when you go a lot
Literally waiting for his reaction video lmao
they said they like to save, but 2885 on food???🤯
“Strict saving rules”
What blows my mind is they have a job that literally is dependent on their physical health and yet they save so little. Not to wish them any harm, but what is their plan if one of them gets hurt and has to take a season off or permanently can’t work? Their food budget is out of control and they could easily cut that in half and still eat very well and stash away that money.
now graham will jump from the skyscraper after seeing the food budget
#savegraham
:)))))
His going to have a heart attack
@@Lissemt hahaha true
“if you don’t need it your shouldn’t buy it”- says the woman with a Goyard card holder worth like $500-$800
Could be a gift. Her family got into SFO real estate early
Their food budget is worse than a car loan because food depreciates by 100% in about 5 seconds once it goes in your mouth.
So they wasted their money, didn’t save, then collected unemployment?
I don’t think she collected $35,000 in savings from unemployment
Exactly like wtf?
Maybe they had money saved but decided to get the rest of the money they were entitled to. "Regularly collect when they are not working" - so I guess pre-covid too? Shouldn't be a thing for people who have a full time career, but they're not responsible for the system.
Federal Reserve giving blank checks to executives of failing companies is the real tax payer problem.
@@carl8455 Exactly...it doesn't matter what you have in the bank, if you qualify for unemployment, you qualify for it. I've seen millionaires receiving it for the periods they didn't work when I was working DOL contracts in my state.
To be fair, their employer pays into Unemployment. Everyone who can earn unemployment has paid into it and deserves it.
2:36 is the exact moment Graham Stephan has a stroke I am calling it
Ha my family of five eats healthy homemade food for 300 a month. Breakfast oatmeal with fruit, lunch chicken and broccoli rice casserole, dinner spinach and chicken salad and homemade bread are our staple meals.
You are not savers if you are spending 2885 a month on food.
R B so you eat that everyday???
@@Ctwosrer I said these are our staple meals we don’t eat them every day. Biscuits and eggs, eggs and tater tots. Chinese stir fry is what’s for tonight. I am home now with the kids so I make everything now. Desserts is homemade vanilla pudding or cinnamon sugar cookies. If we don’t eat a salad with chicken we will eat chicken and a veggie like broccoli and then homemade bread or rice. Stuff like that.😀
@Harshit Kapoor hey Harsh, Your comment doesn’t make sense. Having a 300 per month budget of food does not imply I’m rich since you are assuming Harsh.
Lmao! She said, "My parents have this money philosophy, if you don't need it, don't buy it"
Monthly expenses: 1k for a dog, 2.8k on food...
Graham left the chat.
And they kind of glossed over her parents owning investment property. I wonder about existing wealth from both of their families.
No one's going to mention the fact he's wearing a $200+ Rhude t-shirt and she's wearing $100 Sport & Rich tee? I would think they fall into the "splurge" category of spending.
They also have Goyard card holders!
frrrr
Does mean they’re buying a lot of high end name brands, some ppl choose quality over quantity when it comes to clothes.
not just 1 tee too haha
@@mermaidtingzzz Usually when you buy those types of clothes, you buy in quantity too. Its hard to stop lol. Im sure he doesn't wear just one rhude all the time.
Love to see people in the arts exceling, totally here for it
excelling career wise maybe but not financially lol there is no reason why they cant save 100,000 a year and invest. they'd be millionaires by 35 if they did this.
@@chantalreneehayles7976 totally agree, no question there. I meant I'm just glad that it's showing that people in the creative arts can earn good money (even if in this particular case they go and spend it pretty irresponsibly!)
Folu ohhh yes! That’s true!
Some of the worst savers I've ever seen lmao... With that kinda salary you can EASILY save ~25-30k a year EACH.
Thank you for featuring artists! Seeing Millennials with as many different backgrounds is so helpful and informative. Keep up the good work here! :)
These guys need an intervention. Beans and rice time!
😂 rice and beans!
Dave Ramsey entered the chat
Two able-bodied people spending almost 3k a month on food collecting unemployment for online shopping while there are struggling people who don’t qualify....wow
I know right. It kinda makes me mad.
Here before Graham 😂
Them: spending over $1000/mo. on their dog.
Me: Definitely not getting pets.
I mean it's for chemo treatment :( she doesn't have a lot of time left and they're just trying to take care of her
Yea that's medical stuff. We pay less than $200 a month. It could be cheaper than that but we just started splurging for wet food.
But the annual check up/exam for us is $$$ cause we're in the city.
I’m spending 40$ for my dog a month
@@Omnomtoto I ain’t spending that on any dog or animal. it better some ancient dinosaur lol. Not worth it.
@@Omnomtoto I mean if the writing is on the wall for the dog why would you spend $10k on it to prolong it's life for an extra year and have it be miserable?
Them: We spent 3k a month on food.
Graham: *Has Heart Attack*
Well, with $1700/mo in takeout, most people would get a heart attack after a bit. :P
“Strict saving rules”....
Spends 3 grand a month on food 😂
I’m not trying to be an a**hole but $19k to keep that dog alive ...bruh 😳😳😳
That poor dog is probably in more pain with all the treatments might as well let it rest in peace
Yeah I wouldn’t spend 20k to keep a dog alive. No offense.
I did the math here and they combined make 178k per year that means their tax bracket is 32%
178k*32%= $56,960
That would equal to $56,960 in taxes
Which leaves then with $121,040 to spend per year. Now they said they spend $6,960 per month which adds up to $83,520 of spending per year.
Now subtract their yearly income after taxes minus their spending and you get $121,040-$83,520= $37,520
Which leaves them with $37,520 left over to spend. So what are they doing with this extra money?!?!?
Thanks for sharing your story! Great to see people pursuing the arts while being happy & whole! It’s not always about the paycheck
Honestly, their happiness showed more than their money, and that's powerful. Maybe because they're creatives and can express that better than most, but this was a really refreshing lens on what that money can get you instead of just price tags in your face and having to hustle to maintain whatever illusion that is for most.
These people literally have everything backwards
Even without an employer sponsored 401K they could invest in the market, get an IRA , or SEP IRA/SOLO 401K. They also must have just started saving because with saving $500/wk per person they should have way more money than that.
I know right? My fiance and I make way less than them and have about the same in savings and I've only been working full time for a year since graduating. They definitely just started saving money. Them not having a 401k or an IRA is baffling to me.
They definitely just started saving like yesterday. I'm shook lol
@@bmaze944 I make a lot less and I have more money saved than them. This doesn’t make sense
178k is awesome! Congrats you two!
"If you don't need it, don't buy it." And yet they spend $2800/month on food! What about investing...….
@Never lose sleep over the small stuff yeah probably she's a first generation immigrant from SF. mostly well off
$2000 for food a month. I am now appreciating that my partner and I cook food at home since the pandemic started. We watch cooking videos while eating our homemade meals ❤️
I'm happy that they were able to still provide for their dog during this pandemic/recession. My old dog has really hit me in my pockets during this pandemic but he's also keeping me sane. I'll do all I can to keep him healthy as long as its not impacting his quality of life
You know she’s rich if she’s filipino and her parents let her be a ballet dancer 😂😂
Loll.
They make ~$180k a year together but throw away ~$7000 a month. I wouldn't call this "made it"
My African/Nigerian mind cannot understand how you spend up to $20,000 on a dog's healthcare. A freaking dog. Ah. Nawa.
Neither can mine...
@Josephine Bournes Yea it makes no sense at all.
As a Kenyan, this is extremely confusing and mind boggling.
As a Ghanaian I will proceed to do the coffin dance.
Inspiring indeed!!! Happy to see artists who are NOT starving and living their truth.
Savers? Did i miss something ?
Shoutouts to that Billionaire Boys Club reference: 'Wealth is of the heart and mind, not the pocket.'
Overall, I think their mindset is in the right direction and they do have a healthy relationship with money, but that food budget did give me a small heart attack. Haha
I know, right? For two people lol 😂
Hope their sweet puppers pulls through. It’s awesome to see people doing something they love and also being responsible with their money.
As a musician I truly appreciate this video! Because the arts a whole are sometimes not looked upon as a substantial career
Love how CNBC posted this just as Graham did a video about a recent Millennial Money based in New York.
I can relate to the expensive vet bills. It's so important to get pet insurance early on, and make sure it actually has good coverage. My senior dog has congestive heart failure and he's been a huge money pit. But I love him too much and won't give up.
I love this series, keep em coming
"We don't make alot"....makes $178,000 annually. Wut
They don’t save a lot either.
For 2 people. 90k per person isn't a high income
@@dominick6131
😭 I wish I made half of $90K
@@dominick6131 the median household income in the USA is about $64k so $90 is high i think. 40 milion people lives in poverty in the usa that is bad. Here in The Netherlands its much better.
"We wanted to show people that artists can earn a good income."
"We don't make a lot."
Well, which is it?
Not investing in a 401k because they want to “see their money??” Wtf do people actually think like this??? That is so insanely stupid
You probably won't see this but the 401k is a scam for a lot of reasons. I personally will never invest my money in a 401k.
@Balling on a Budget You have "Budget" in your name and don't even understand finance.... anyways, in general you make the most and pull out the most of a 401k when you retire. This means the money is pulled out at the HIGHEST tax bracket. So you are saving on cheaper taxes to pay higher taxes in the future. It's a really silly trick, now you can't pull your funds out without a penalty if you haven't hit the age limit..... BUT laws change all the time, they could make a law tomorrow that when you pull out the 401k there is a 90% tax.... All the risk none of the reward.
Roths are better but still scams for some of the reasons above including pulling profits and the risk of laws changing. I hope one day you become wealthy, I've just never met a wealthy person with a 401k.
@Balling on a Budget the ones you know that are poor for "not contributing"....they obviously aren't investing either. It's a symptom of a bigger problem.
I like that they featured a couple that works in the arts!
Loving this series and how they are putting out content for milennials (25-40) we were hit with so many issues ( 9/11, the years long war on terror, the 2008 financial crisis, Hurricane Sandy in the East Coast, Hurricanes in the South, Fires in the West, Civil Unrest, RONA recession, etc) it affected us worse than any other generation.
As a Chicagoan myself, that food bill is astronomical. They need to cut down on their takeouts and restaurant spending. Sheesh.
No wonder they're friends with owners of restaurants.
Agreed. I eat out almost twice a week in Chicago, plus groceries, I would spend close to $500 a month. I thought my spending was excessive lol.
@@monsieur_beau1917 I am kinda like Graham where I have my "restaurants" budget in Mint for only $20 a month and I usually buy sushi from Whole Foods. It has become like a "treat yo self" thing instead of being the norm of thoughtlessly grabbing my phone and ordering from Grubhub/Doordash.
Almost 20k on dog treatment, old dogs die.
Yup .. I'm like .
Here's my breakdown:
Wife and I are 32 and welcomed our daughter 2 months ago.
Annual pretax: $145k
Mortgage principal: 181k
15 yr conventional/2.33% interest
Monthly total burn rate: 4500
(Includes 15% 401k/403b contributions from both of us and 12k annual roth ira contribution broken down)
Monthly savings: 3000 (goes into high yield online savings account)
Emergency fund: 25k (in the high yield account for liquidity)
Plan: start a 529 or esa to fund baby's college; pay off house in 10 years (or less!); both of us only work part time by age 52 for insurance.
Were comfortable currently but having this wonderful daughter will change the budget some. What do you guys think? Thumbs up if well be ok, or comment to guide us to the right direction! Thank you all! Keep these vids coming!
Can u check out “the money guy” on UA-cam?
1) they do a breakdown of why you should do a 30 year instead of 15 year mortgage (you invest the difference in the market and get higher returns) ... they do a bunch of models for it and examples to prove it
2) why are you only saving in a high yield saving account ? That’s like
How much you have in all your accounts right now ?
@@Xyrutano I do watch the money guy! They're pretty awesome and I did learn a bit from them. Our retirement accounts are heavily invested in index/mutual funds that mirror the s&p. Are you talking about a brokerage account? If so, we are still debating starting a 529 vs brokerage for our daughters college fund. Yes returns have been cut to 1% recently but it's still better than a regular savings account. We have about 30k in it as our emergency fund and liquidity is very important in that regard. We have about 10k in our regular bank account cover bills. We did start out with a 30 yr mortgage with a 3.75 rate but recently refinanced to a 15 yr with a 2.3%. Our payment now is $100 less a month and are on track to pay off in 11 years.
Peace of mind is also very important to us and having a paid off home gives us that way before we retire. Net worth currently around 310k with the house - principal left.
$2885 on food? That is absolutely insane.
HOLY 3k ON FOOD? STOP THE PRESSES! 36K PER YEAR! 360K IN 10 YEARS! MY GOD
They just...ate my salary. All of it.
Thank you for having a non-medical field Filipino in your episode. All of the ones you’ve featured were either doctors of nurses. 👍🏻
The last thing that he said was pretty cool .... wealth of the mind, body, and spirit
Considering how many "full time mommies" are out there, 178k is an absolute ton of money for two people. There are men out there raising a family of 4+ on like $70,000 of less.
Really positive to see a MM video from such a different industry!
Wait until graham see’s this ! 😂
I’m sorry I think I agree with Dave Ramsey that $10k on cancer treatment for a day is just too much. Some folks won’t like but I couldn’t do it
We had this vid played on our econ class and everyone said they were wasting their money on the dog LMAO
Sorry about the cancellations. I’m from Chicago and would definitely come watch a performance whenever they set everything back up 👑☺️