I've helped millions of people fix their money and in this video, I'll look over 3 different budgets — 2 couples and 1 single parent.
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I've helped millions of people fix their money and in this video, I'll look over 3 different budgets — 2 couples and 1 single parent.
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36 comments
Daycare when i was a kid:
Close the door and dont open it for anyone, food is on the table
If your rent is over $2k i think its time to move in the ghetto
495 a month for a pet is crazy
My take home from this? I had approx £20K in a cash ISA, earning 5.10% interest, but a car loan of approx £20K with an interest rate of 7.9%! 🤦🏻♀️ I’ve just paid off my car loan, so we’re about £500/mth better off now, not to mention saving thousands in interest payments. Thanks for the kick up the butt, Ramit!
I am just saving 25 % from past 10 months. Multiple things running in mind. Buying a house , investing for kids study , retirement. From next month we will start investing minimum 5 percent.
That's a lot of info. Is there a way to get this CSP template?
When you say 10% of take home pay towards investments, does that include 401k, Roth IRA and HSA etc.? Or is it just what you are investing in your brokerage account?
also they need to switch cellphone you can do mobile for like 120 for 2 lines.
Have a streming service over some stocks😂
I was raised by extremely frugal parents. They weren't poor. They were actually pretty well off, but they loved not spending money, pinching pennies and looking poor. I guess that rubbed off on me, because I also hate spending money, love having money, and love looking like a homeless person. I'm CTO at a small company, but I don't even own a car, wear ten year old T-shirts and eat cup-o-noodles for lunch. Everyone else there wears fancy clothes, drives high-end cars and orders lunch through door-dash. I always look at them and think, you are never gonna be rich.
I'll be damned if I had to spend $1000s on daycare. When I grew I used to ride my bicycle back home and took care of myself since 3rd grade. If not that, my mom would have another parent from school host me until she'd come back and I'd just spend time at their house doing homework or relaxing.
All these people make so much money lol
People are crazy about their grocery shopping. It seems like people will buy ANYTHING at ANY PRICE just because it is food and therefore they feel like it is a necessity worth spending on. It's like they don't realize that premium food items exist. Or that cheaper options exist. You actually don't need that fresh gouda from Italy, believe it or not. You don't really need cheese at all, tbh, but if you want some then find a cheaper one. You can buy the expensive one on occasion, for a special event, because it is a luxury cheese product. If you're only talking about cheese, whatever, it's not like people are blowing hundreds of dollars every month specifically on cheese. But people are doing the same thing with every food they buy. Always name brand, always more expensive options, often pre-prepared food items. The basics are not that expensive in general, and you can get a lot of things for almost half the price if you go generic brand. Figure out a meal plan, do some food prep, and you'll save money AND TIME while also being able to enjoy delicious and healthy food, constantly. Just requires you to sit down and actually plan your diet for once in your life.
They spend more on the dog than the child….. 🫢
How can you make that much money and at the same time be so poor is just mind blowing to me
Having a dog in the city is a luxury if it were a choice of dog over your own child there are plenty of ppl out there that can afford that lifestyle and would take in your pet smh crazy world we live in
On the CSP, is there no consideration for pre-tax investment? There is only a line for post-tax investment. If I consider my 401k contribution which is 6% of my income plus my company's 6% match that's already 12% of my income invested every month pre-tax. Where is that considered on the CSP? I am asking because I feel like if I follow the CSP guidelines of 10-15 % post tax investment then I might be investing too much and missing out on the opportunities to enjoy that money now in my rich life today
how much do you americans earn wtf….
Great videos. I’ve been learning a lot from you. Thank you! I have one related situation I need advice on. I have about $5k in credit card debt and the means to pay it off, which would make my only debt my house and car, both of which are part of my rich life so I don’t mind these expenses. That said; I have over $120k in stock. But I am having a hard time getting myself to sell some to pay off the credit card. I keep saying, if I sell $5k in stock, I miss out of that stock growing beyond $5k. But I am not aggressive enough with my monthly pay to pay down the credit card. I’d rather put my extra money in saving and investments. Am I being short sighted? Should I just pay off the card and take the hit?
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I would choose to reduce your debt any day above investing your money even if you have an good interest rate. You never know what happens in live you can lose your job or income drops etc at that moment you have not or less the monthly payments. And it’s easier to manage your cash. If you have to sell your investments it can be that you need to sell it at the wrong moment and maybe with a loss.
Looking at these assessments, it strikes me how people can be so dumb to so mismanage their money. I always thought I am very bad at saving money but looking at these people not having savings and spending on lavish things, that leaves me speechless.
Sir, I am not sure if you are born in the USA or some other country, but if somebody comes to this country at the age of late 20-s or 30-s, have to go back to school for a professional degree, they are not gonna have so much savings right in the beginning of their careers, which in this case will be their 30-s, or 40-s depending how long it took them to restart their life in the US.
Isn't spending higher on groceries infinitely better than eating out?
Why no chatter about rent ? Esp on the last CSP ? 30% of net income ? Thats the bigeest to cut and yes the toughest life choice
Being 15 years younger and having almost identical investment savings is insanity, that first couple made me feel much better about my own situation
poor child at the first family finances…
Great advice as always. I’ve really been able to look at my finances differently and I’ve made a few changes. But where do you shop for food? My family of 4 spends around 2500-3000 for food and household items
Fascinating if you see this from another country. Germany has good salaries for europe, but with gross salary 4.200 euros, you have net around 2.600 euros as single. And that is a bit above median. Now looking at the expensives of these examples shown in this video. I think it is impossible to survive with an european income in the US – crazy.
1200.00 dollars a month for groceries? 3 people and a dog👀👀👀, that is crazy . Even if it all organic.
🙏👏👍😍
Groceries are very expensive lol. Costco changes about 10 dollars for each item. 1200 can be real number for 3 people. Meat, sausage, bread, fish , and eggs will bring you to over $50. I can’t imagine how someone can spend $100 in month on groceries
I spend $400.00/mo. on my dogs, but I'm feeding a Great Dane… and a medium and small-medium dog. If I had a Yorkie instead of the Dane, I would spend half of $400.00 a month, if not a third. Spending $496.00 per month on a Yorkie is insane. They are spending more on their dog than their child…
I love how remit is so real
Unfortunately when money scares you (or anything does) people are more likely to make mistakes
Breed is not that important but size is. A lot of dogs costs are based on size. Like surgery.