My husband makes $20/hr and I stay at home with our daughter. We own a house and have around $100,000 equity in it. We do owe $3,500 on a car but are making very fast progress , and should have it paid off in two months! It’s definitely not easy. I cook from scratch every meal and buy our clothes secondhand. No eating out or coffee shops but we live a very fulfilling life on very little!!
@usernameunknown5073
Жыл бұрын
Hey , do you mind texting me what this budget looks like ?
@ashd2821
Жыл бұрын
This is what my hubby and I did as well. People over estimate what they actually spend. Good luck on your debt free journey
@jacobssonja
Жыл бұрын
Those were the good ole days before inflation and cost of hike increase.
@courtvisions2
Жыл бұрын
sounds like you paid much of the house off when $20/hr was worth way more than it is today though.
@patygrau8131
Жыл бұрын
We are in the same Emma a family of 4 living with a budget, cooking all the meals, buy second hands clothes, if possible
@craigostertag
Жыл бұрын
I make $25 an hour (net $2,976/mo) and keep my monthly expenses as minimal as I can. I’m currently spending $1,060 a month and am able to put aside $1895/mo by not living beyond my means. I’m 27 years old and only have student loan debt that will be paid off in-full this December. It’s doable for me but I know not everyone’s situation is same.
@accordio321
Жыл бұрын
Electricity wouldn’t be in half because consumption rises with more people under the same roof, but the bulk if that is probably heating & cooling. So, i would estimate electricity to be reduced between 30-40% Same hold true for water which is metered.
@ns5545
Жыл бұрын
George has become my favorite personality along with Dave. Lots of personality turnover but I think they’ve hit the nail on the head with George!
@Jane5720
Жыл бұрын
He’s funny too😂
@kitrivers979
Жыл бұрын
Both George and Jade are gold :)
@extremeliberty7890
Жыл бұрын
I make $20 an hour. My wife is going to college and is a stay at home Mom currently. Own three vehicles and will have the house paid off in ten years. Thank you West Virginia
@rebeckawoods6093
5 ай бұрын
Yeah, I am very seriously considering moving to West Virginia after saving up a little more money. I've never lived in the east, but between mountains, house prices, and wages, it seems like the perfect place to live.
@davelk1995
Жыл бұрын
My bills for everything, and I mean everything a year in TN, is 22k. I could make $12 an hour and have all my bills paid. And I have 3 kids, and my wife is a stay at home mom. When I get my mortgage paid off, I will only need to make $7.78 an hour to pay all my bills. So yes, it can be done.
@jordanfessler9664
Жыл бұрын
"Theres no way you can afford to have a decent breakfast on 50k a year" 😂
@rebeccashields9626
Жыл бұрын
I literally lol’d at that comment. Some homemade sourdough with half an avocado, butter, salt and a poached egg costs what, $1.65? Depending on the cost of avocados near you? Maybe add some berries for another $1.00 and get really fancy😂.
@bootleg1514
Жыл бұрын
Well yeah, when you're paying 35 dollars a morning on eggs Benedict and mimosa.
@Investormillard
Жыл бұрын
Very Boomery avocado toast puke esque vibes there!
@iomis2001
Жыл бұрын
I live on $21, but my mortgage is $711 a month. I clear 2500 a month. My monthly expenses including my mortgage is about $1300 to $1400 with $1000 left over. I spend about $70 a week on groceries. What single person pays $500 a month for groceries? The best way to save money is to cook at home.
@rhsc2670
Жыл бұрын
I make 30 an hour, nowhere near scared. Would I want to make more? Absolutely. Do I need to in order to survive? No. I live far below my means, and still more than enjoy each day.
@stevenporter863
Жыл бұрын
3:15 Of course there are things he wants to experience that he can't do on $7.25 an hour. Most likely a McDonald's counter type job. Opinion: Those type of jobs shouldn't be used for primary income permanently - they are stepping stone jobs, second side jobs to pay off something or summer break type jobs.
@15KHPCLUB
Жыл бұрын
Must be nice to still live at home rent-free.
@melzerzvlogz6027
Жыл бұрын
@@stevenporter863lol who do you know is making $7 an hour this day in age?
@stuartwilkison8754
Жыл бұрын
I worked 46 years...blue collar...never made 25 bucks an hour. Own my home..bassboat..car ..4×4 truck..and motorhome...with half million in the bank.
@gillfranz25
Жыл бұрын
Love the video. Well, we're a family of 4 live in L.A. where everything is super expensive. I make $22hr and wife $20hr. I do hit a lot of o.t. so doing 60-70hrs a week. Have my small ebay store and do door dash when I have time. Between both of us we make $110k yr. I used to be worried but since I started listening to Ramsey and his crew I'm more relaxed now doing the baby steps. I feel it's more of an excuse. If you're worried do something about it💯 plus my wife is a great cook so blessed with that😁
@peterwilder752
6 ай бұрын
I survived comfortably last year on $26 an hour in southern california. No car payment, no student loan debt, and lived with a roommate. Cutting your housing expense is the easiest way to comfortably survive when you're making 60k or under
@alexeialeksandr7606
Жыл бұрын
My problem with so many of these videos is that using an average isn't the best way to see what's affordable. Cost of living is the biggest factor in how much you need to make to live comfortably in your area. Roommates help. Having good financial sense also helps.
@Investormillard
Жыл бұрын
Wrong zip code & wrong year to buy & no crash ever will attempt to ruin you’re life & put you in bankruptcy court if you allow it!😊
@bettedavis9261
Жыл бұрын
I agree with everything EXCEPT the water bill. It wouldn't be cut in half, because Joe Blow wouldn't be using half as much water as when he was living alone. He'd still be using the exact same amount. But that was only a $22/month saving, anyway. Rent is iffy, as well, unless Joe was already living in a 2 bedroom place by himself (1 bedroom places aren't half of 2 bedroom places. In my area, they're only a couple of hundred dollars less). Otherwise, I love the cost saving message. You're still my favorite, George!❤️
@gailfrederick5012
Жыл бұрын
Thought I was the only one that caught that
@lartrak
Жыл бұрын
Electricity too. Won't be cut in half. Definitely reduced, but not cut in half - more lights will be used, maybe two computers at once, etc.
@ashleyterry6424
Жыл бұрын
My water is a fixed amount so it could reduce by half. The electric one is still kinda iffy. I average 150 a month with 2 people (electric heat and AC and my husband is a big gamer.) But then again, my expenses aren't quite as high as in the video in general.
@briom1425
Жыл бұрын
No you can’t not in California , I don’t know about other states
@amireallythatgrumpy6508
Жыл бұрын
In California you can't live at all. No matter how much you earn.
@eos_2366
Жыл бұрын
My grocery budget is $150, even in CA, it’s very doable.
@Chinunit22
Жыл бұрын
Here in Denver if you make less then 35$ in hour you live in poverty. Also, not everyone wants to put up with a roommate
@savannahnichols8477
Жыл бұрын
My first job I made about this amount and holy cow my expenses were far less than the avg $40,000 a year. Roommate makes a huge difference and just learning to be happy with good things, not the newest, most aesthetically pleasing, gut reaction want items and activities goes a long way both financially and in your overall wellness
@A2thaLO
Жыл бұрын
Yes, it is very hard to live on anything less than $25 an hour. BUT!!! This is very subjective because it all depends on many factors, specifically where you reside. When you grow up poor, ingenuity kicks in, and you find a way.
@mtndewdev
Жыл бұрын
I'm curious if these people are single or live with a significant other. That really changes everything in that case. Let's be honest, no one wants a room mate. Yes it does help but making less than 50k a year is not enough to support yourself on your own in most areas if you're single.
@williampreston1601
11 ай бұрын
Lives in ca, half rent of an apartment is 1300, half of a mortgage on anything other than a trailer in a 55+ only area is 1800.
@29_lets_go
Жыл бұрын
I make $18/hr and live alone in a 2bedroom in New York. It’s not hard but it’s not easy.. like George said, if you have a plan you’re alright. I don’t even know how to get to $25/hr and I’m trying to figure out how people can make so much. Over $30/hr is just mind boggling… I get 2% raises and have to sell my soul to the company I work for to get that and hoping for $18.50/hr this next year.
@maziluandrei5055
Жыл бұрын
Be a contractor! Do a job that can allow you to contract and you can make even 150$ an hour.
@ClubLandlord
Жыл бұрын
Work at Costco. I'm a topped out Cashier after 6 years of work and I'm making $29.30 an hour. They start at $17.50 an hour with 1.5 pay on Sundays and guaranteed raises based on hours worked.
@Myraisins1
Жыл бұрын
29 Lets Go: You must learn a skill that can get you a better paying job. There are low cost or free programs to learn tech skills. Also consider getting a government or city job because they tend to be more stable and pay is good in NYC.
@noahkinter2790
Жыл бұрын
The same organization that George works for has a career specialist with his own show. He helps people figure out what they want to do for work that’s meaningful and get paid well for it. His name is Ken Coleman, his show is on Apple Podcasts, and probably KZitem. Just a suggestion if you’re looking for ways to get your income up
@amde8554
Жыл бұрын
Staying with one company and looking at incremental increases won’t get you ahead I would look at another line of work or see it switching companies can get you more
@dmoneyBag
Жыл бұрын
$72,000/YR in Portland, Oregon is livable, but boy does the government like it’s taxes🙄 we need to be more intentional with where our money is spent but are privileged to not have to worry about making ends meet.
@markclub8330
Жыл бұрын
My question would be, how long are we expected to have a roommate? Do they not think we have been doing this? Often roommates can be late with rent, noisy, destructive. How many years do we live with roommates? People are living with roommates in their mid-30s still. Simply getting a roommate isn’t enough. We need higher tax rates in the rich, corporations need to pay their share too. Redistribution of the wealth is the only way until wages come up to a reasonable level.
@GeorgeKamel
Жыл бұрын
If it’s always someone else’s problem to fix, then you’ll always have the problem. Take control. You affect your life and success more than anyone and anything else.
@madonnanewman7244
Жыл бұрын
💯
@pro7videos
Жыл бұрын
The hardest part of this conversations is what people believe they are entitled too. This greatly varies depending on who you talk to
@Gabe00723
Жыл бұрын
Hi George, Great video but I have a challenge for you. Where can you find a car for $2,000 to $5,000 that Dave talks about that won’t leave you on the side of the road and not be a “money pit” for repairs?
@GeorgeKamel
Жыл бұрын
My last car was a 2009 Honda Civic that I bought in 2017 for $6000. The price point for a reliable beater car has definitely shifted to $5-6K versus $1-2K.
@el676
Жыл бұрын
@@GeorgeKamel I’m in the market for a new used car so I’ve been looking daily. On the east coast. Plenty of options for $2-3k. Even in today’s market. I don’t think I’ve ever spent more than 3k on a car in my life.
@melzerzvlogz6027
Жыл бұрын
I know! I was wanting a beater but you cant find anything that runs for 4 or even 5 thousand dollars. They are literally selling broken cars for that much. And I live in Dave's area. I looked for so long. The only thing that ran in that budget wasn't street legal. The speedometer didn't work. Was literally about to break down as I test drove it.
@novasmotion
Жыл бұрын
My husband (bless his heart) worked through the summer on $15/hour, then has been able to get a job that pays him $20/hour, and is making rapid advances to being able to make double that by the beginning of the new year. It's been hard, to pay our bills, to pay of some debt, and to not ever eat out, go do family activities that involve money, not one single trip this year (even local), etc, etc. However, we are healthier because everything is made from scratch, we are making our farmstead property nicer through manual (aka free haha) cleanup, we spend a lot more time together, etc. We have 3 children, so the struggle is real, but we would rather choose this, since it has brought our family closer together...and I respect my husband a lot more because he would rather work for a small amount of money, that accept unemployement and live off the government. It can be done on $20/hour with kids!
@justincaldero5174
Жыл бұрын
I currently make $24 an hour and add an additional $10,000 a year in side hustles (total gross is $55-60,000). My wife is able to stay home with our two toddlers and we live pretty comfortably while maxing out my 401K and Roth IRA. We're also on pace to pay off our house in the next 5-7 years by age 35. We live in a suburb of Chicago, so not the cheapest area. It CAN be done. People have to learn how to sacrifice temporarily and truly distinguish between needs vs wants.
@vespaesian
Жыл бұрын
This channel is fantastic, keep it up George, you really are killing it
@Leslie83249
Жыл бұрын
You're my new favorite youtuber.
@GeorgeKamel
Жыл бұрын
That means the world, Leslie! Thank you!
@msdiamondpiggy
Жыл бұрын
$25 an hour in a low cost state goes far with a good budget. We need a channel how to get ahead in vampire Sucking you dry states like new york and california.
@cisium1184
Жыл бұрын
You can in Atlanta. Just gotta stay away from debt.
@rocsib9551
Жыл бұрын
You can definitely live on 50k per year. You can cover the necessities food, shelter, clothing (depending on where you live) and how big your family is. However, you aren’t having too many experiences and your lifestyle will not be fancy. It depends on the lifestyle you want. Right now I can’t live on that. We have two children and a future to plan for.
@theofficialblackdirectory
Жыл бұрын
I live in a mobile home & I can live on $50k a year, but I can't afford a single family home on this salary.
@Janellbird
Жыл бұрын
I follow EveryDollar as a budget tool. I also have the option to switch cellphone services. And internet.
@gracephillippe
Жыл бұрын
Depending on your situation but being debt free helps a ton!
@shaereub4450
Жыл бұрын
I make $13.30/hour from my day job and $13.75/hour from my night job ($31,500/year gross $27K/net).
@ruthclark8680
Жыл бұрын
Informative video! Keep inspiring us George! Love your new UTUBE channel
@Beloved_Boahemaah
Жыл бұрын
I LOVE THIS CHANNEL🗣️🗣️🗣️ Thanks George!
@alqoshgirl
Жыл бұрын
I think even with a family you could make it work. Taking averages for a country as big as America is kind of ridiculous to begin with. There are places where you can still find houses for under 200k and in other places it starts at 600k. If you are in a high cost of living area then you need really think if you want to stay there or change careers.
@googleuser2426
Жыл бұрын
Where you live....this is key.
@ninerknight5351
Жыл бұрын
“I grew up on much less than that.” Hilarious. One of my main goals in life is to not stay stuck in the past. So many people act like it’s still 1995. “In 1979 my parents raised me on x amount.” That ladies finances are absolutely horrendous odds are.
@keithchegwin1222
Жыл бұрын
Some people don't understand inflation.
@roblincoln10
Жыл бұрын
This is the golden comment. Sometimes it's not just about the sacrifices you make. If you have sacrificed and sacrificed, and the peak of where you are at in your career path is 50k per year, that is not a good place to be in the year 2023. No matter how you break it down. That is not the way to look at things imo.
@ninnolose7298
Жыл бұрын
There are validity to your comment but 1979 wasn't a picnic in the US. Federal interest rate was 11.2% (it went up to 16% by 1982). Inflation was 11.9%,, The average salary was a little below $17,000 and the minimum wage was $2.90. Homes were a lot less but with the interest rate it was not easy. I think it's so hard for us now is because we've grew up in the most comfortable time in history. Our exposure to what our piers have on social media doesn't help either. I had no idea how people can all afford $4500 Gucci bags or fly business class every where and I wouldn't know people lived liked that except for social media.
@BRExteriorPro
Жыл бұрын
@@keithchegwin1222absolutely
@jordandowland7256
Жыл бұрын
Then what would you say is a minimum livable salary in 2023?
@snipz7929
Жыл бұрын
It may just be where I live but I have friends that lived pretty well off of 14 an hour. Taking vacations every year, owning a home, doing all the normal stuff. It just has to do with how you manage your money. You may not be able to spend as frivolously as if you made 100k a year but it's not bad money by any extent
@jimmay1988
Жыл бұрын
That 1st idiot judges my cost of living based on 49 other states. Last I checked, I can only live in 1 house at a time, and it's paid off.
@presteeto
Жыл бұрын
I have a new favorite finance channel
@nickstiltson1180
Жыл бұрын
I’m doing ok on right around $3-5/hr (I live outside the states) I pay my internet, electricity (free water) bills monthly I’m adding on a second story to my home, I have a little son he is 1 and a half (separated parents unfortunately) only thing I’m “missing” out on rn is owning a car
@jillpowell315
Жыл бұрын
I am a single mom and make $16 an hour. I live in the midwest where it isn't expansive. I own my own small home and I make it work. I can still take my kids to the movies and out for dinner. This is the most I've ever made in my life
@johnsilbert6141
Жыл бұрын
Ok so I’m going to get a roommate to move into my efficiency apt hahaha. $25 should be the new minimum wage
@TheseEndlessNights
11 ай бұрын
So yes, unless you’re willing to live in poverty and sacrifice your quality of life immensely then you should be completely terrified if you’re making under $50k. These guys kill me, they’re like “yeah eat 2 cups of rice a day, live with a roommate til you’re 55, drive a $2500 car and spend less than $80 a year on clothes from the good will and you’ll be fine! For anyone with realistic standards for their life, 50k won’t cut it. The minimum to live a NORMAL, not luxurious lifestyle in the US today is probably somewhere around 80-100k
@Romerix11
10 ай бұрын
the financial "solution" that always kills me is "gEt A rOoMaTe" because it is not as easy as they make it seem. I have a 55 ish pound dog and NOBODY wants to even interview me for a roommate position. Living with family and friends is also difficult for same or similar reasons. Not that i love the idea of sharing my household with anyone but if i needed to make cuts like these in my budget i would just be screwed.
@chitrumbo112
Жыл бұрын
Single income household of four, hubby makes 17/hr. No debt, except mortgage. 30K emergency fund, 23K equity in 1957 fixer upper 990 sqft house, 2 bed 1 bath. It's not easy, but it us possible. Probably won't make it to millionaire next door status though.... I'm a homeschool mom with 3 years left until I can work full time. I've been out of the workforce so long that I'm probably going to have start all over, salary-wise.
@fourdayhomestead2839
Жыл бұрын
$17 & not enough until my car is paid off. Bare bones budget with just housing, yes I could (wouldnt want to for very long).
@ericavene
Жыл бұрын
I relate to the woman who said she grew up on less than that. my mother made less than that my entire life and she made it work with two kids.. its HARD, but not impossible.
@lukescapee1234
Жыл бұрын
I’ve never made more than $30,000 and I’ve saved up enough for a house downpayment all while living 15 minutes from downtown Nashville. It is ABSOLUTELY possible!
@dan4logic500
Жыл бұрын
The budget is actually pretty solid but if you make that income you need less rent no streaming maybe just Netflix. Why is the cellphone so high? You making payments?
@yeseniathethrift4743
Жыл бұрын
I make less then 25 a hour and I am a couponer buy my clothes at the thrift store I also sell clothes to by my clothes for free and buy my coupon stuff if you want to make it in life find a hobby that’s makes you money having a hustle is the way out of debt
@c.j.valentine3027
Жыл бұрын
You are a hoot, GK!
@TG-cr6fb
Жыл бұрын
If you are young and heathy....but what if medical expenses
@outdoorsman4245
Жыл бұрын
I am living on less than 25 an hour now. Just being transparent I am single no kids live alone and have zero debt.
@delsmith8140
Жыл бұрын
Living alone is definitely the hardest thing to do on the average salary, especially in a major city. I'm glad George pointed that out first, I'm in Chicago (the new Manhattan of the Midwest in terms of prices lol), you will definitely be struggling to live alone and save money or invest toward retirement if you don't make at least 80k here, preferably 100k+. So a roommate or significant other is a huge help. You may not need/want a car living in the city, I know many who don't have one here so that will also save tons of $. I also have Mint Mobile $180 a year plan. Love it. And YES the grocery expense is always bigger than you realize, you can slash it by over $100 a month per person easily by shopping the sales, cheaper stores, bulk meats, cooking more from scratch, and meal prepping even. With all the kitchen gadgets these days its way easier. Good luck y'all! Keep that margin high! Earn more, and spend less. Your older self will thank you later!
@4evahodlingdoge226
Жыл бұрын
It's called working overtime.
@loganbourgeois185
Жыл бұрын
I make $25 and hour I’m 26 have a wife 2 kids and dog and have a home it’s not hard to save money it’s called quit spending I’m living comfortably with money to save and invest
@desiv1170
Жыл бұрын
"You can't be normal. You're going to have to spend less than you make..." And that right there is pretty sad... Shouldn't that be the norm? Maybe not every month, but on average at least...
@Camie2030
Жыл бұрын
The insurance kills us. $1k a month for family of 4. And daycare of $750 per month.
@crystalhernandez5226
Жыл бұрын
I make 24 an hour as a welder with about 10-16 hours a week overtime. I make enough to afford my 1700 dollar rent, food, and all the bills. My girlfriend and I live together so luckily we have her income as well as mine.
@phobedavis7014
Жыл бұрын
How long should you have a roommate? Back in the day 50K was doable for a single person.
@kyleotterman7010
Жыл бұрын
George I just landed a job at white castle and I'm pumped ! They even offered me my own employee discount on the fries.
@greggsadler4387
Жыл бұрын
Hard to truly analyze a budget without knowing the area. $50K in NYC would be tough, maybe close to impossible. (Of course the wages are higher) $50K in a rural area is not difficult.
@IL_Bgentyl
Жыл бұрын
America has a spending issue not a earning issue.
@ASGFamily1
Жыл бұрын
Love it! Keep it up George.
@racheltookes7428
Жыл бұрын
Happy New Year! George, great video, but like you said making $25.00 an hour would not be terrified if we don't try to live off more than we make and have a good budgeting plan
@garrettessary1350
Жыл бұрын
You the man George!
@carolherm
Жыл бұрын
Awesome! Love listening to your advice!!
@outdoorsnevada4138
Жыл бұрын
As long as you don't live in a high tax state like California or overpriced cities.
@lindawilson4625
Жыл бұрын
When you are in the grips of debt stress you need someone in your life like George to beat on your chest, so you can start breathing again, then he can point out how to fix your problem. There's always a solution, but when you're stressed out you just can't see it :-)
@brittanywhite3399
Жыл бұрын
We make less than 36k a year. And we are a family of 5. We are not terrified.
@MrGrabich
11 ай бұрын
You've made some great assumptions how to make some savings, so while we are making all these assumptions I know even better way: Buy a lottery ticket and not worry about money.
@WeableSplash
Жыл бұрын
Unfortunately for many Americans, getting roommates, moving and budgeting better usually isn’t the issue. Mental health is the #1 factor. Hard to be motivated when you can’t imagine living to the end of the year.
@christineshah7330
6 ай бұрын
Considering that you can get a one bedroom apartment in Indy for a range of $650-900 (and yeah, we aren't thrilled about him living in the $650/month apartments. Dicey areas. His truck alone doesn't deserve that. lol. The higher end of the range is perfectly fine neighborhoods with simple apartments, minimal amenities. Our house has minimal amenities, I think he'll be okay. ;) ), this doomsday guy is wrong for many places in America. If all you are going to make is $25/hr you need to consider where you live FIRST. Our youngest is planning to be a journeyman carpenter. The trade school cost will be cash flowed by us, he is saving to buy his own truck in cash and he will start his Roth IRA this year. He'll be 16 in June. We are helping him set up his life so that making the journeyman average of $21/hr will be easy to live on and save and invest. It's all about choices. If he makes terrible choices he could be making a million a year and be in debt to everyone and lose it all.
@jonquindiagan682
Жыл бұрын
Keep up the good work!
@jreinel1966
Жыл бұрын
Working the part-time 40 hours job that most americans do a week is very dificult but if you work 12 hours like i do 6 days a week,you can live very confereble like i do and a save money and i don't have any deb,all my bills paying on time..!
@bustercherry2054
Жыл бұрын
This depends on what state you live in mostly I think you could get by with 25/hour but deductions are what will kill you
@amadanotamanda
2 ай бұрын
Okay do the budget for a single mom making $25/hr. No roommates with a 5 year old. Throw in high medical costs, too because child has physical disability. Keep in mind, $25/hr is still too much for medicaid or any other similar govt benefits. No child support because child's father can't hold a job. We live in DMV area. Income restricted apt is 1600 not counting utilities. Now, I am working overtime to keep afloat, but would love to see a realistic budget for a single mom. Ready, set, budget!
@chipthigpen3173
Жыл бұрын
It's not easy, but it's pretty simple. Live on less than you make. $50,000 is easily a livable wage in most areas of the US.
@amyjones8613
Жыл бұрын
Can you do 30k next?
@jadenkutz
Жыл бұрын
Even if you don’t have a car payment of say 300 you should be setting aside 300 a month to pay for a car in cash in the future right? 6 in one hand, half dozen in the other
@jdkay1390
Жыл бұрын
But let's be honest you don't want to live with roommates for several years. Can be draining
@GeorgeKamel
Жыл бұрын
I lived with roommates pretty much until I was married. Just don’t choose a terrible roommate. 😬
@alisatjaden3906
Жыл бұрын
@@GeorgeKamel Best of luck with that. I was a landlord who vetted carefully. Always somehow the rent, utilities etc money was late or "stolen. " Or moving out unannounced in the middle of the month. $6,000 damage...
@goodcommunicator1687
Жыл бұрын
I would not say terrified, but it is very concerning.... Most one bedrooms apartments cost $1,000 per month across the board, even in the high crime areas . Before inflation and increased cost of living, $25 per hour was middle class for a lot of people. I would say you need to earn about $75,000 a year or more to be middle class, now, since the average price of homes across the board start at $300,000. Also, $75,000 would be a fourth of your pay, as Dave suggests to go towards your mortgage & my numbers are based on pre-tax/deductions & he suggests 1/4 should be based on the amount you bring home. I make $20 per hour & I am not terrified ONLY because I have a paid for house and a six figure net worth. However, I still want to earn more money because I want a Lexus and I want to increase my retirement contributions & net worth. I also want to buy another house because the neighborhood is taking a downward spiral.
@michaelreszke3804
Жыл бұрын
I’ve never made 50k, I have a home, newer car. Heck my daughter just graduated from 6 yr of collage in debt a lot, over six figures, and only making 35k
@kuuls7156
Жыл бұрын
Yeah you need a Roomie or Significant Other to work alongside you. Real question should be, why is this the case now when back in my parents day there wasn't as many dual income families? Why is it harder now? I think people implicitly realize this and that's why there's so much anger here in America. If it ever gets to the point where 3 incomes are needed, then we will have a very serious problem.
@tduck828
Жыл бұрын
That rent is too much. You want a higher wage, get skills or education to support it and make yourself an asset to a company. Yea starting at the bottom sucks, I get it. I hated fast food so I worked my way out!
@MattMills69
Жыл бұрын
I make $20 an hour with 2 kids and a wife. We make it work, but live paycheck to paycheck. However, it IS a behavior issue. I pay for the newest iPhone and Apple products every year or every other year. We do go out to eat. We do like to spend money on streaming services. We have a car payment. Anyone who says George is wrong, is just in denial.
@bmmk12
Жыл бұрын
Even if he didn't get a roommate, but only got rid of that car note and got a cheaper phone plan, that alone would give him $500/mo margin!
@jennycardenas9179
7 ай бұрын
Not if you live in California!
@johnniemartin4798
Жыл бұрын
I make roughly $31,000 a year. Raising 3 kids on my own.
@jonathantanner9517
Жыл бұрын
$500 a month in groceries for a single person?! That’s mine and my wife’s budget for a family of 5 😂
@Mint-kj9kw
Жыл бұрын
Then you don't eat healthy. If you buy all organic and do dairy free/gluten free, you will spend a lot more than $500.
@azores15
Жыл бұрын
It is absurd that anyone making fifty grand a year should have to get a roommate. Things have definitely changed for the worse over the last ten to fifteen years.
@RiSkyNick
Жыл бұрын
People in our culture are just spoiled. You really just need to learn to be content with less in order to not be money stressed.
@theofficialblackdirectory
Жыл бұрын
If all money is going towards bills and you live in a neighborhood with gunshots at night, you will be stressed about money.
@austinhernandez2716
Жыл бұрын
It depends on where you live, if you have health conditions that require expensive healthcare, if there's public transportation where you live(nonexistent where I live). There's too many factors to make a judgment. Also, most entry level jobs are not $25/hr. At my university, working full time as the production chef like I did, you start at $15.73/hr
@TrueSamuraiHero
Жыл бұрын
I think people need to stop buying cars that’s worth their net salary and stop spending 3,000-4,000 a month on rent by themselves
@theroadletstravel
Жыл бұрын
not my Paramount+ !! But really, shoutout to my immigrant parents who sacrificed so much to allow me to live a comfortable humble life
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