$21,000 IN TAKE-HOME PAY | Millennial Real Life Budget Review Ep. 28
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- Опубліковано 28 чер 2024
- We are looking at a family living in the Bay Area who have $52,000 in debt, extremely high expenses, and their finances are all over the place! Watch how I rework their budget to simplify their life.
Chapters:
0:00 Intro
0:59 Biggest Struggle Financially
2:28 Monthly Budget Review
3:40 Credit Card
4:35 Fixed Expenses
5:43 Emergency Fund
8:21 Pay on Debt
10:10 Investing Goal
11:18 Market Savings
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After saving the additional $8,000 for their emergency fund in the first month, they can use the $8,000 in future months to pay down debt. So they will have $11,000 available to pay down debt not just $3,000. And they will be done much faster than 1.5 years.
They can be done with debt soooo fast. $3k-10k leftover is a blessing to save save save
My favorite seriesssss
And this video is a good example of not all financial people understanding student loans and IDR plans.
What do you me with this?
@@marieke-27367:07.. there are plenty of IDR plans that adjust your payment based on income/family size, 5 people (4 dependents) easily possible to have a $89/mo student loan payment.
What this person means is that this is likely a 25 year ramping payment plan. They’re saying that the lady in the video was not able to identify that.
Can't wait to see where they are in a few years!
$21,000 per month?? I had thought from the title that that was annual!
just found you about a week ago and really enjoying this content. New subbie 🙂
This just seems like alot of guessing on your part...I think reaching out to the people who send in their case BEFORE you start filming will make the suggested budget more accurate...
Agreed. They need to actually look at what they’ve been paying for restaurants and shopping, etc. How are they in debt if they have 9K extra a month? I think it’s all being spent on extras hence the credit card debt.
You don’t have the Costco credit card?! You are missing out. It’s like 3% back at Costco. (They break it down with groceries, gas and everything else, so it’s tiered). But it’s not bad!
As nurses they will always be able to find a job thankfully.