2:33 if you make 300k a year and a tax bill of 10k stops you in ur tracks then something is really wrong with ur spending habits

@jasonwilkins1969

2 жыл бұрын

That is insane. I don't know how that even happens unless you are self-employed and don't think you have to pay taxes. I've been self-employed for 7 years, there is no way around planning for taxes. Usually once every couple months, I do a pretty deep dive to figure out what my tax Position will look like and readjust my payroll contributions.

@MrMasterDebate

2 жыл бұрын

Tell me you don’t know how to budget without telling me you don’t know how to budget.

@DH-lm6kh

2 жыл бұрын

Your tax bill would be WAY higher that that...

@shanesimms3665

2 жыл бұрын

You have to consider that at that income bracket half of earnings go to taxes, so they are really only pulling in about 150k. The 10K surprise means they didn't take enough out over the year and got hit with a surprise extra amount. Secondly, this likely means they both have massive student loan debt to each make that income. My personal student loan payments for instance are $4,000 a month or about $50k a year. If they have 2 people in a similar situation then that means their remaining take-home is ~50k per year. Add on your rent or house payments, insurance, groceries, bills, etc. even with proper spending habits a $10k tax bill could easily be half of your actual leftover funds.

@HungMelow

2 жыл бұрын

10k in taxes for 300k combined household is pretty good depending where you live. That’s 5k each person in taxes.

I’d rather look poor but financially secure. Than to look wealthy but wallet is empty. If others look down and disrespect me for what i wear and what i own. Its more of a reflection of them and not on me.

@winterdavis

2 жыл бұрын

Agreed!

@dmc1045

2 жыл бұрын

Well said!

@ibrahimalowonle9106

2 жыл бұрын

What a great mindset.

@Obesepelican

2 жыл бұрын

"The Millionaire Nextdoor" mindset!

@letty4558

2 жыл бұрын

I agree!!

Going to a prestigious school doesn't equate to wealth. Also, FOMO culture will make you feel like you're broke when you really are not. Stop looking at social influencers as a benchmark of living.

@jamalwilburn228

2 жыл бұрын

Social media influences typically have very wealth parents and will pretend to be "self made" or will have items loaned to them for shoots. Most of the women are just trophy wives or gfs

@ajh.4131

2 жыл бұрын

Yup! If I see cool travel pics on social media, I just say “oh, that’s nice.” And keep it moving 😂

@jes6628

2 жыл бұрын

i saw a another show saying people making 250k a year feel like they are living paycheck to paycheck.... the art of happiness is going the way of the dodo and its all turning into keeping up the joneses

@Star-du6yz

2 жыл бұрын

I used to feel broke

@Ek0

2 жыл бұрын

Its not even about that wanting nice things... I work two jobs, full-time accountant/finance, part-time technical support. I make exactly $100k a year. My rent for a 1br is $1750 before utilities, this is a decent price for my area. I bring home $4,600 after taxes per month from accounting. Essentially almost 50% of my take home pay is going to just have a place to stay... so I had to pick up a second job because it feels hopeless only saving like $1,000 a month when they want 10% - 20% down on a $600k house in California. Life is more than working 60 hours a week to own a home that Im barely in because im too busy working... Im not sure why I work at all anymore because it generally seems hopeless.

Living below your means" adjust your lifest, be frugal, budget, save and invest. This helped me out as a 6 figure earner. I've grown over a million in retirement savings with this method

@phillawson5785

Жыл бұрын

The term HENRY. Is really so hilarious. Sadly there's actually people living paycheck to paycheck

@maxdmitry1912

Жыл бұрын

Great Job man. You said it all right there!

@maxdmitry1912

Жыл бұрын

the term Henry is so funny. I literally laughed whenever it was mentioned in the video Ps: my first time hearing it

@nicolasfernandez222

Жыл бұрын

Nicole NJ, 38. I Just started at my six figure job after being in and out of the poverty line. I really hope I don't end up like this. I'm scared really scared!!!

@georgenoah4872

Жыл бұрын

@@nicolasfernandez222 Don't panic, start out easy, don't buy things you don't need, budget every money, always save a portion of your pay atleast 5%, Invest from your pay check; it grows and helps you accumulate wealth easily.

It’s called lifestyle inflation. Nice house, nice car, tons of vacations, dining out daily…..no retirement and neglected student loan balances. People need to stop hyping this crap and normalizing irresponsibility.

@xlkarma8446

2 жыл бұрын

You don’t know what you’re talking about. High paying jobs require credentials not to mention high rent/mortgage, cost of living, etc

@dimediamond

2 жыл бұрын

♥

@olivia5527

2 жыл бұрын

Yep just because you have a valuable degree does not mean you're smart with money.

@stachowi

2 жыл бұрын

@@xlkarma8446 that's call a "your problem" not "our problem", you don't think everyone who DIDN'T go to college wanted to but chose not to because they couldn't afford it? You ate your fancy dinner, now the bill is due and you want someone else to hear you complain about it (or even help you). Grow up, no one cares.

@xlkarma8446

2 жыл бұрын

@@stachowi 😂 that’s not what I’m saying at all. Get your facts straight

I'm technically a HENRY but this definitely makes me cringe. This is the definition of a first world problem.

notice how she started blaming poor people instead of talking about why college is so expensive lol

@underdogtv2855

2 жыл бұрын

They all sound entitled and yet 2 of them were at a concert in front rows WTF.

@thewonderingworld9301

2 жыл бұрын

@@underdogtv2855 fr people are just entitled to everything these days. ik people that make 50k and live a decent life.

@joe7665

2 жыл бұрын

@@thewonderingworld9301 You can have a decent life on $50k for sure, but you can't have a decent life on $50k with $30-80k in student loans.

@thewonderingworld9301

2 жыл бұрын

@@joe7665 the way I see it, if you don't have the money don't go to a fancy school with a dumb major like psychology if u major in something like cs you'll pay it off in a year like me. People make the mistake of going to expensive college for a useless degree for the sake of college experience and the result will be obvious, hella debt. The dept trap exists but u have to be smart enough to not fall for it. I'm not trying to be mean but I hope you understand what I'm trying to say. I went to a cheap school because I had no money and no family assistance and I payed everything off quick because I did something hard

@joe7665

2 жыл бұрын

@@thewonderingworld9301 First off Congratulations! 2nd You're speaking the truth, I'm not upset at all. The problem is people were told to go to college and thats it! the system just takes advantage of these people, That's the real problem I see. not to mention the uncredited schools pumping out graduates then they realize they been "had"and can't transfer. I think regulations would be great ( but then republicans would get upset because they are loosing money) My wife is a Dr. finished up fellowship with over $400k in debt, and went on to get a masters in research now working on an MBA. you and her know how not to get the best bang for the buck! but know we are in an economic crisis' because all of these other people are all tapped out and can't afford homes, to start a family or to even be happy.. Hope you understand my point as I do yours

"Don't pursue those low-paying jobs." Tell that to teachers.

@Dre2Dee2

2 жыл бұрын

I tell every teacher to quit their job, none of them listen

@motherhoodsbeauty9279

2 жыл бұрын

But you need a teacher to teach the younger generation. We will no school if nobody want to be a teacher.

@jasonwilkins1969

2 жыл бұрын

@@Dre2Dee2 they aren't fools. Teachers know what they are bargaining for. It's about the passion, not the paycheck

@JM-gg8ko

2 жыл бұрын

If they want to stay in a teaching environment.. college head coaching, university presidents, athletic director.. gets millions of dollars.

@TunTheOfficial

2 жыл бұрын

Ikr or being a nurse.. or even mechanic or any fricking service job that is actual essential..

As a 'HENRY' myself this is laughable. If you feel like you're struggling making 100-300k a year you are so out of touch with reality its actually quite sad. There are people who can barely afford to eat in this country making minimum wage or unemployed. Stop crying in your big house with your boat and 2 beamers as if life owes you more than the lavish spending you've already provided yourself with

@TMAC53

2 жыл бұрын

I agree this is a very out of touch segment. Look up the Frito Lays worker strike in Kansas. Employees working 12 hour shifts with no days off for months in a row for low pay. Sometimes you have to step out of your bubble and look at the big picture to really count your blessings.

@bulletprooftiger1879

2 жыл бұрын

Thinking that $100,000 is a lot in SF or NYC with $450,000 in debt is laughable. "Just move" isn't a valid suggestion.

@user-ox9vu2gl5n

2 жыл бұрын

@@bulletprooftiger1879 why not? Or how about join the military?

@zjean3417

2 жыл бұрын

Just downsize your lifestyle for a couple of years and with that large salary pay it off.

@Punicia

2 жыл бұрын

They're just young idiots who don't know how to manage their money. Mid-life crises will hit them hard

These millennials are why the rest of society has no sympathy for people that are ACTUALLY struggling from student debt. I can't believe anyone on here actually whined about having to save for a "Gucci belt" with a straight face when so many are worried about getting a house or not losing their house.

@bazil4146

2 жыл бұрын

It’s most likely daddy’s money as well.

@HeavyInstinct

2 жыл бұрын

Yeah the Gucci belt thing made me want to puke.

@whyaminotoriginal

2 жыл бұрын

Are we forgetting the 80s was the age of excess?

@stillnessmeditations

2 жыл бұрын

You missed the point of that story. It’s not to feel sympathy. It’s that she’s not putting some thing that she wants on a credit card, like the rest of high earners who want nice things. There’s nothing wrong with saving for something you want, it’s called budgeting.

@happycook6737

2 жыл бұрын

Yes, the Gucci belt comment really showed us their problem!

Henry’s need to watch Dave Ramsey

@errolm8313

2 жыл бұрын

Exactly. I graduated with my undergrad, increased our income by 30 +k. Currently snow balling paying off debt.... Paid off a 7k sallie mae loan in less than 2 months time

@BrieoRobino

2 жыл бұрын

Nah, he's too extreme.

@tmusa2002

2 жыл бұрын

So right. Stop whining and take care of your debt or keep whining, stressing, never get ahead, waste your life away. Choices. Dave rocks.

@tmusa2002

2 жыл бұрын

@@BrieoRobino You must not have an extreme problem then. 🙂

@olympic-ass-eater

2 жыл бұрын

@@errolm8313 what do you do and work?

With such income, they can payoff those student loan within 5 years.They’re living high with a very good lifestyle, they should not complain, it’s their choice to live that way.

@bryanluis9445

2 жыл бұрын

But in areas like mass, it’s either Boston or nothing There’s no money elsewhere in the state outside of medical or management It’s why many left Massachusetts

@simplelifeinfo3913

2 жыл бұрын

ya these people just sound entitled and irresponsible

@BasicName02

2 жыл бұрын

Agreed. I look at their homes and hear the things they do in their free time and I’m like I can’t afford to do live there or do any of that. Entitled and bad spending habits.

@jake862944

2 жыл бұрын

EXACTLY. I'm looking at a 30k loan that I will have to pay by myself while making less than 25k. But i should still be able to pay it off in 5 to 6 years (if i don't find a better job) but ill have to live very frugally. Something these people refuse to do. id cut my left hand off to be in the position they're in right now

@henrytep8884

2 жыл бұрын

@@jake862944 of you're making 25k you're not a Henry. This video is about Henry. I wouldn't bail out a Henry, I would bail you out though, because your a low income earner. Anyone who makes over 100k gets no sympathy from me, not even in San Francisco.

You can make all the money in the world but if your up to your eyeballs in debt and you can't live on a budget you'll always be broke.

you make 300k in Virginia and are having a hard time. I made 35k a year in Virginia and I lived like a king for the 2 years I was there. it's not an income problem, it's a lifestyle problem.

@olympic-ass-eater

2 жыл бұрын

What do you do?

2 words. Lifestyle Creep. These people make more than TRIPLE my annual income and I’m not living paycheck to paycheck 🤷🏾‍♀️ Live below your means people! and pay off your debt as quick as possible. It’s the only way out! And if you really want to build wealth.

@user-hu5er6vu1b

2 жыл бұрын

I want an advice. I am studying my master's degree and is costing me $1,100 per class. I have saved money. Do you suggest that I still pay the classes without loans?

@devinstallworth1558

2 жыл бұрын

facts

@HoangNguyen-jd2mr

2 жыл бұрын

@@user-hu5er6vu1b dont do master degree, it is a business scheme. Do phd and ask the school to pay for you. 🤦

@ajh.4131

2 жыл бұрын

@@user-hu5er6vu1b What are you getting your masters in? Because honestly, it might not even be worth it. Just depends. Unless you plan on having a career in STEM, Law or Education, going to college is 9 times out of 10 a waste of money. But like I said in my original comment, live below your means and pay off your debt ASAP. Also, I wouldn’t ever recommend taking money out of your savings if that’s not what the savings account was meant for. You’re better off picking up a side gig to help you supplement your academic expenses.

@Ozymondias99

2 жыл бұрын

@@user-hu5er6vu1b yes

They are living better than me. I couldn’t even afford rent.

Oh the HENRYS AGAIN. I’ve been really worried about them since your last report two weeks ago. Glad to see they are still somehow surviving.

@LuciusKyrus

2 жыл бұрын

LOL.

@MichelleNgome

2 жыл бұрын

🤭😅

@Yourfairweatherfriend

2 жыл бұрын

Lol😂

@TheCyberianWonder

2 жыл бұрын

😅🤪🤣

@jamalwilburn228

2 жыл бұрын

Just rich people jeering themselves off again because they need some of that victim sympathy too

Educated doesn't equal intelligence: Investing creates wealth, not salary.

Well duh... Everybody's debt is holding them back from wealth.

@ThaRedPitbull

2 жыл бұрын

You tell em, pops.

@Moriningland

2 жыл бұрын

Ok boomer. We didn’t have the world handed to us on a silver platter like you

@infraudwetrust3291

2 жыл бұрын

@@Moriningland You have nothing but excusses. You're too weak & spoiled to do the work necessary to be wealthy.

@Kiara-xh3he

2 жыл бұрын

Ok boomer, y’all went to college for the price of a Big Mac and have the audacity to talk all this non sense. Wages have been stagnant for decades and housing is ridiculous. So buh bye

@whiteywhitecracker8842

2 жыл бұрын

@@ThaRedPitbull I believe you're the only one here with a insightful brain - congratulations!

I think its more about irresponsible fomo spending. My girlfriend feeds her family of 4 on a budget of 10 bucks a day, so sad the Henry's cant upgrade their car though. Learn to budget, invest, and grow actual wealth. My 15 year old car and $5 t shirt fit me just fine.

@HtineTEE

2 жыл бұрын

A 2 bedroom cost 1600 in my city and that’s cheap!!! Ppl are moving here for that price. Including big money conglomerates buying up homes over market value, pushing up the price nearly every market. We have allowed businesses to run rampant and continue to listen to them blame us and we just eat it!. That’s not ok. That’s not normal. It’s not bootstraps!!! America, we have a problem!

@bsm121

2 жыл бұрын

@@HtineTEE because of the government it's really simple. A reason why it's expensive because they make it expense, a perfect example is California when building a house after you get permits all the sudden you have to due studies to see how it affects a random thoughts and the builder has to pay for these so called studies then years down the road still no progress but 100s of thousands wasted. That's the democratic way waste money then send money to other countries while making America less affordable. So the answer is less government and lower taxes not the opposite

@HeavyInstinct

2 жыл бұрын

@@HtineTEE Maybe you should consider moving then? The mortgage payments on my 1,008 sq ft. two bedroom home are a little over $750 per month including property taxes. That's for a modern energy efficient ranch style house that was built in 1995. Smartest thing I ever did.

@codyk1875

2 жыл бұрын

Wait how does she do that for 10 bucks, share your secrets

Learning to live within your means is part of GROWING UP. I had six figure debt with a five figure salary. I got two extra jobs(80 hrs a week), and put 70% of my income toward paying off my debt during the 0 payment on government student loams. I’ll have everything paid off in 1.5 years. HENRYS have to look at their debt and pay it off like the rest of us.

@olympic-ass-eater

2 жыл бұрын

What do you do?

This is so pathetic. Henry. Really?! Guess you all might have to look at your spending! Maybe you can’t have a Gucci belt, a party, a fancy car! The borrowers get to own their problem and pay it back. Just like the rest of the world. This is called life. This is called responsibility!

@Curiamacabre

2 жыл бұрын

It’s infuriating how utterly ignorant they are as to how whiny they come off, and no thought towards economical people who live on way less and legitimately struggle because of unforeseen circumstances. These people should be embarrassed of themselves.

@Tenny0721

2 жыл бұрын

A gucci belt, that was so annoying some people don’t understand that not everyone can have access to certain luxuries. So if you can’t afford it maybe don’t buy it.

@daveed_0161

2 жыл бұрын

True, pay it back with interest.

@infraudwetrust3291

2 жыл бұрын

They MUST have their social status, regardless of the cost.

@infraudwetrust3291

2 жыл бұрын

@@Curiamacabre these people who live with less are the most likely to succeed if, they will persevere over the decades and not collapse under pressure.

Tax Bill of 10k on a 300k salary, that leaves 290k, minus income taxes you are still left with about 200k. These people are ridiculous. If you can't make a living making 200k you are the problem.

@shaunmc013

2 жыл бұрын

That sums up their generation lol 😂 Smart as hell but ridiculous…

@marialindell9874

2 жыл бұрын

I mean they can have 300k in student loans just to get an education. They can't help that. Also some have families, illnesses and other things that cost significant amounts in USA. Insulin here can cost max 20€, but it can cost 500$ there. We shouldn't immediatly call _everyone_ stupid, because lets be honest here, USA makes it's people pay ridiculous amounts for things that should not even cost anything.

@gail-sw9xg

2 жыл бұрын

@@marialindell9874 yes, they can help that! I worked my way through school with no debt.

@marialindell9874

2 жыл бұрын

@@gail-sw9xg You aren't the majority. I can, in my country, finish my studies without having to take on loans, but that doesn't mean everyone else can. You =/= everyone.

@gail-sw9xg

2 жыл бұрын

@@marialindell9874 sure it does. Those decisions are made by each individual. If you want to graduate debt free it can be done. It takes work and forethought, qualities in short supply for a generation who demands instant gratification.

Thank you, ABC News, for focusing on just a few people and making the whole generation sound like assholes instead of focusing on the actual problem.

@nipoppolous87

2 жыл бұрын

That part. Thank you! They are completely missing those who are not in six figure salaries. This is intentional, though. It’s sickening. I don’t know of anyone making 300k and complains about not being able to pay their student loans and still live a decent life. Let’s talk about those who are not in six figures and trying to do their absolute best with what they have in a subpar job market with more than 1 or 2 graduate degrees.

@consumerdebtchitchat

Жыл бұрын

I have to agree with Paige on this.

@olyl3859

Жыл бұрын

Well, I’m a gen Y and I know many youth who are in debts. I also have friends who are Middle class and other who are well-off. It’s to easy to have access to credit (credit card, loans) in North America (US / Canada) even if you don’t have the money to pay back. In others countries in the world, it’s not that easy. For me, that’s a major problem we are facing here, but the problem also is that our economy is base on credit. If everyone would spend only what they have, the economy would collapse.

1. Move out of a big city, it is much harder/impossible to build wealth in a big city Most of these high paying jobs can be done remotely now. 2. Don't ever buy Gucci anything. 3. Who cares what your friends purchase. Part of being an adult is realizing that different people have different financial situations and everyone has to make different decisions based on thier own scenario. I have no sympathy for these people.

It's called sacrifice, stop living above your means and pay off your debt. I'm doing it now, and have friends who have too

@ajh.4131

2 жыл бұрын

Exactly!! But then you have people who will try to justify their lifestyle. Oh well. I’m with you! I tackled my student loans at full force and live below my means. I’m already seeing the fruits of my labor 👍🏾

@MT-si3bu

2 жыл бұрын

but they “feel “ that they deserve to have everything they want

A six figure salary may not go as far as you think.. lol... you poor babies

Duh, this is not new. Doctors and lawyers. We can’t qualify for mortgages because of student debt.

@jasonwilkins1969

2 жыл бұрын

I definitely agree with you as a lawyer but the nice thing is you also can have a good salary to pay down those loans. We really buckled down and paid off $60,000 in just under two years. If you are looking for some good inspiration, Dave Ramsey is what got me going down that path.

@jihanjude6634

2 жыл бұрын

@@jasonwilkins1969 that may be true but I used loans to finance my entire law school education. I doubt I will be able to pay off the mortgage of debt I now owe. Im grateful for my decisions and don’t regret that because I would not have been able to afford my degree otherwise. It will just take me a very long time and I probably will never be able to own a home.

@jasonwilkins1969

2 жыл бұрын

@@jihanjude6634 I don't know your experience but that sounds tough. My law school was partially paid through an assistantship where I taught for the school. I also attended a state university where tuition was cheaper. I won't ask what your debt load is but given your explanation, I recognize that it is difficult. For whatever it's worth, my total debt load was $100,000 upon graduation because my undergraduate cost me a great deal more

@jihanjude6634

2 жыл бұрын

@@jasonwilkins1969 ok I won’t give up hope yet!

@jasonwilkins1969

2 жыл бұрын

@@jihanjude6634 Dave ramsey got me motivated with a plan they call the debt snowball. I thought I would never pay it off until I started watching his videos on KZread. The idea is to use paying off small debts first to get momentum psychologically and go from there. For me, this meant saving for my wedding, $3,000 more needed when I started the plan, then my car ($4,000), then my private loans ($33,000). With each debt paid off, motivation and disposable income ($200/mo for wedding, $179/mo for car payments, ~$300/mo for private loans for school) builds and you start to see a path out. Your shovel to dig out of debt gets bigger. I was able to buy my home in Dec of last year. Still have $35k in federal debt but waiting to see how loan policy changes before paying it down. It is rough no doubt. If nothing else, it gets you moving in the right direction. Best of luck and keep hope.

I have car loan debt. I have housing debt. Does that get paid for too? Where does it end? Everyone has to pay for a decision they made themselves. They would then have to make college free for everyone. What about the people who were penalized because they couldn't afford college. This is a rabbit hole that's way too deep.

@24james

2 жыл бұрын

Nailed it!💯👍🏽🇺🇸

@gehmangang8006

2 жыл бұрын

Facts!

@mrgoodness9229

2 жыл бұрын

I do agree, but look at the money the government hands out to big business. it's seams to be ok to bail out banks for making bad loans, subsidize oil and pharma so they can make bigger profits, I won't even talk about the 1% and taxes. all's I'm saying is the government has no problem taking from the poor and giving to the rich.

@santalaran700

2 жыл бұрын

Mr. Goodness, of they bail out borrowers, they also need to repay those who worked intensely to repay their debt while just living an affordable lifestyle rather than splurging to impress.

@mrgoodness9229

2 жыл бұрын

@@santalaran700 and yet we all don't bat an eye to all our money being given to the rich, who's brain washed ?? I've worked 60 hours a week for 45 years and I'm sick and tired of the government either giving to or bailing out billion dollar corporations.

Even with the 300k her and her husband make without student loan debt they feel like they need to watch thier spending No, they don't. They are literally just doing things wrong if you make 300k and thats not enough thats on you.

It’s all about budgeting and not keeping up with the Joneses!.!.

This is one of the biggest slap in the face videos I've ever seen.

The freeze on interests helps. I am paying during the freeze.

Millennials do have it worse than boomers, financially.

@infraudwetrust3291

2 жыл бұрын

Hogwash, not when you compare age to age.

@ajh.4131

2 жыл бұрын

This ain’t the struggle olympics 😂

@unicorn-glasses

2 жыл бұрын

@@itzasweater9621 it is a fact that millennials have a harder time financially than Boomers. That's comparing cost of living, median wage and hours worked. Millennials inherited a much worse economy and get less financial help than Boomers.

@unicorn-glasses

2 жыл бұрын

@@infraudwetrust3291 yes, it is true. Boomers had a higher median wage and held a far higher percentage of overall wealth compared to the same age millennials. Wages adjusted for inflation were higher and home prices adjusted for inflation were lower.

@christiancastillo5268

2 жыл бұрын

@@unicorn-glasses millennial have the internet you can learn anything with a google search. They can learn how to make more

Maybe stop purchasing things you don’t need with money you don’t have to impress people you really don’t care about. Live within, or below, your means.

I think planning ahead is the best. I will be starting my college degree soon and paying back my loan or at least not find it hard to pay back wouldn’t be a problem when the time is right. I earn around 2k dollars weekly trading crypto and I intend saving my profits for that future purpose

@peterson3380

2 жыл бұрын

I also trade on forex but not so much profits. Last week was a tough week, I made over $800 loss and it felt really bad

@tems5063

2 жыл бұрын

How will I make such profits too? I will really appreciate as I have a debt to payoff

@clarajames8265

2 жыл бұрын

@@peterson3380 I have never had such loss. My broker (Exprt Ryan Hans) strategy is really good and i keep earning despite market fluctuations

@tems5063

2 жыл бұрын

@@clarajames8265 Please tell me, how can I connect with Ryan

@clarajames8265

2 жыл бұрын

Ryanmicheal hans trading

oh man these people again who cant live off 100k a year so sad....not.

@simstar6557

2 жыл бұрын

100K NY is like 40K in Alabama.

@simstar6557

2 жыл бұрын

@Cannon Cocker which is what most people do. Long commutes because they can't afford rents. It's not high earning when you can't even afford a place near work.

@simstar6557

2 жыл бұрын

@Cannon Cocker what would she make anywhere else? That's about a nurse or a pharmacist salary in NY. So I would say, middle income.

@simstar6557

2 жыл бұрын

@Cannon Cocker she is obviously sensible. One of the interviews was of a lady wasting money on Gucci on a similar salary and keeping up with the Joneses. Working from home from Albany is great with that salary. But anyone who has to spend that many hours in commute just isn't a high earner by local standards.

@matthix7403

2 жыл бұрын

Depends where you live in NY and depends where you live in Alabama. If you wanna buy a $300,000 home then your cost of living is going to increase expedientially.

I agree that $100k is not really a lot of money and I can see how they feel as if they are living from pay checks to paycheck. But if you make $200k-$300k and can’t get ahead you have issues budgeting and prioritizing their money 💰

@ajh.4131

2 жыл бұрын

100k per year is still a lot of money. It’s not even anywhere near the national average. So that says a lot.

@sidehustlevikki1066

2 жыл бұрын

@@ajh.4131 yeah i think the national average is around $55k but also studies show that the average american could not afford a $400 cash emergency. To me that says that the average person is just barely getting by, living off of debt, and struggling. $100k is not alot. Probably more like comfortable.

@BasicName02

2 жыл бұрын

100k is more than comfortable amount of money. People that feel they are paycheck to paycheck with that salary are just living outside their means.

@ajh.4131

2 жыл бұрын

@@sidehustlevikki1066 yeah, it also depends where you live too. $100k is comfortable in DC vs $100k in San Francisco.

@ajh.4131

2 жыл бұрын

@@BasicName02 exactly! That’s how I see it. Lifestyle Inflation is real!

They didn't learn about debt, tax and leverage in school?

@KP-jp9gv

2 жыл бұрын

Should've played monopoly lolol

@darriennemartin4083

2 жыл бұрын

No

@olympic-ass-eater

2 жыл бұрын

Highschool dont teach that

Live below your means to pay off debt, save, invest and repeat until you build wealth. It's just simple as that.

@Chasityolaf

2 жыл бұрын

They don’t want to live poor. Look at their massive houses and all the other debt they took out. 💀 I’d live off of 20k and pay my loans with the remaining

@Chasityolaf

2 жыл бұрын

@Nia Rountree I live in San Antonio, TX and I live off of it and I live comfortably (: have no debt so my only bill is rent which is about $800 a month on total.

@Chasityolaf

2 жыл бұрын

@Nia Rountree guess I can make it work for myself 🤷🏽‍♀️ can’t force you to live my live style

If there making six figures, then they can pay the loans down and be frugal for a few years.

College was virtually free in California, before Ronald Reagan became their governor. Add on.. Holding them back from a home and family and retirement and vacation. The median income is NOT 70 grand. Try 30.

I started making 6 figures in my mid-20s. The high cost of living however makes me feel like I'm living paycheck to paycheck. I don't have a luxury car- it's a Hyundai I bought when it was already a year old. I don't take expensive trips. I don't eat at restaurants. I don't buy new clothes, it's all thrifted. I still feel like I'm only just barely keeping ahead of household expenses while saving as much as I can.

@rjtheripper931

2 жыл бұрын

That's the sad reality of it. And our government wonders why nobody is having kids. It's because of our fucking economy stupid. Yeah you can make jobs but do they pay well for people to start a family and trying to make a living. Not really.

@JCAdolphson

2 жыл бұрын

That doesn’t add up

@maginext

2 жыл бұрын

Deffintly does not add up

@felipebarron3479

2 жыл бұрын

Where do you live at?

@Lady.Luck.

2 жыл бұрын

I'm not going to lie.. the car was "already a year old" made me laugh. While it would have depreciated somewhat.. a year old car is still a huge cost. You could buy a 5 year old car and save like $400 a month for that alone

America ain't like it used to be. We have to be honest with ourselves here.

@darlinspaces

2 жыл бұрын

Like why do so many want to buy high priced crap ? There are many well off people who do not buy so many ellaborate items on shopping sprees LOL

If you are making 6 figures or close to it and you are living paycheck you need to lower your standard of living a little bit whether you have student loans or not! A Henry? lmao

@mr.centrist5789

2 жыл бұрын

They are also living in high cost areas. So when are we going to also blame what we do NOT have control over.

@drew_lucas

2 жыл бұрын

@@mr.centrist5789 and they are probably paying 600 hundred a month for a BMW that they are LEASING

@abes3925

2 жыл бұрын

@@mr.centrist5789 well fucking live with roommates or find somewhere cheaper. Just because you graduated college and got a job don’t mean you can start living the an amazing lifestyle.

@mr.centrist5789

2 жыл бұрын

@@abes3925 lol look at you people making up excuses for lousy landlords and ridiculous landlords. Sorry but I have no sympathy for them

@mr.centrist5789

2 жыл бұрын

@@abes3925 and when you actually going to blame the system causing this? I'll wait. Nothing but excuses

This really irks me because they make it seem like millennials all have six-figure jobs and are just to financially stupid to know how to budget. Really the majority of people struggling to pay off student loan debt are people who make $30,000/yr trying to pay off $100,000 in student loans while they struggle between deciding to pay for rent or food this week those are the people living paycheck-to-paycheck.

"I think college is basically for fun and to prove you can do your chores, but they're not for learning." - Elon Musk Quit wasting your money on education and experience you can get for free.

“Feel like” living paycheck by paycheck? So do they live paycheck by paycheck?

@BasicName02

2 жыл бұрын

No not at all. They are still saving $1000 into their accounts after every paycheck. But they “feel” broke…entitled and bad spending habits

I started making six figures a year at 21 1/2 years old; the lowest I ever made was $75k/year when I was 19. Payments for my student debt don't hurt; what hurts the most about government-issued student loans is the 50 point decrease I took on my credit score. That needs to be stopped.

@joyaustin6581

2 жыл бұрын

If you pay cash for everything credit score doesn’t matter

@olympic-ass-eater

2 жыл бұрын

What do you do?

I like the name Henry too much to make it a meme label for weanie baby millennials making 6 figures or more. If any help does come from the government, it needs to go to those needing the relief, not rich people that don't know how to budget.

Life Style Creep 2010: slowly increasing lifestyle Life Style "Creep" 2021: fake gurus

Everyone i talk to at work in their upper 40s and above, either didn’t have student debt or still have student debt but it’s at a ridiculously low interest rate. So low that they don’t pay it off. Meanwhile, i paid 6.8% for my graduate loans and 4.6% for undergrad loans. It’s true that the older folks had it easier.

@olympic-ass-eater

2 жыл бұрын

Dam bro how much you make monthly payment and how much go into the interest?

In other news…eviction moratorium has ended.

@jamalwilburn228

2 жыл бұрын

About time. It was a terribly run policy that was holding back the inevitable as rent debt was only accumulating. The propper way to run it was to not have the lock downs or the gov to pay rent for tenants

So living the life of luxury is expensive and um…. You’re caught off guard, so buying premium brands and living means….. stop buying luxury and complaining about how expensive they are.

Downsize, don’t get the expensive car Budget, save money, pay off the student loans, buy a house.

Student debt isn’t holding the high income individuals back at all… it’s the blowing money on trivial stuff and not managing it properly that’s holding them back. Those people could pay off their debt much more easily and in a shorter amount of time compared to average or low income people.

@gabemendoza1052

2 жыл бұрын

@Paul Bernardos bum High school drop out cousin That's what average people do, who think they're rich, lol.

The story starts at the 5:00 minute mark - and disclaimer - the woman interviewed is not pro student loan forgiveness.

By learning to cook, they can save at least $5000 per year. By learning batch cooking on Sundays, that clears up time for 6 nights each week. Maybe they should hold back on buying that Tesla for a few years, and pay for the existing debt.

I'm a blue collar worker with no college education. I'm willing to work until exhaustion every single day of my life to provide to my family AND ONLY MY FAMILY. If you made bad choices in your life that's only on you. It was YOUR choice getting a loan in order to pay your liberals arts degree or your gender studies degree. Grow up and behave like and adult and stop making everyone else for your shitty life's choices. “I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money.” - Thomas Sowell

If you borrow, you have to pay back. I went to a public school and graduated with no debt. Life is fair.

@darriennemartin4083

2 жыл бұрын

Public schools still create debt.

@x-men69-96

2 жыл бұрын

@@darriennemartin4083 nope, it doesn't. If you apply for financial aid and don't eat fancy food and live in someone's basement and work part-time during the weekend.

Say it with me America ... ACCOUNTABILITY. MOMMA DIDN'T RAISE NO CHUMP. I AM AN ADULT WHO IS RESPONSIBLE FOR MY OWN DECISIONS.

And??? DO NOT use my tax dollars to pay off a loan I did not sign for🤮👎🏽 Nobody paid off my student loans but ME💯

I paid off 25K in one year after college while only earning 40K a year. I have 45K left after a year and a half.

It’s the cost of living ie. high rent. Housing is a problem for everyone.

Gov: hey let’s loan people money for college! People: why is my tuition going up so much? Gov: nothing to see here…

Pro tip: 1. Go to community for 2 years 2. Transfer to a relatively cheap instate college 3. Have your employer pay for masters 4. You don’t need to go to a top 10 school people People for whatever reason can’t follow this logic.

@mathisnotforthefaintofheart

2 жыл бұрын

This is an EXCELLENT answer but looking at the upvotes, your recommendation isn't much appreciated.

@thesig301

2 жыл бұрын

@@mathisnotforthefaintofheart sadly:( but it’s likely it just hasn’t been seen by many ppl

when being rich is no more a luxury but a necessity to survive

@E4439Qv5

2 жыл бұрын

...It's coming soon, isn't it.

She never said that women hold 2/3rds of the college debt

@jamalwilburn228

2 жыл бұрын

Not sure if that's true, but it's simply because women typically are more likely to go for higher education or receiving advances schooling like medical school and such. Alot of men also go to trade school or don't even attend college. Let's not make this a "Pink tax" or "2/3 dollar thing".

@aolvaar8792

2 жыл бұрын

@@jamalwilburn228 Women tend to get degrees dealing with people, (sociology, psychology, ...) low paying without a masters, a masters cost more than a bachelors degree

@bernardcummings8786

2 жыл бұрын

@@jamalwilburn228 I agree, but you should take into consideration a large portion of women in contrast to me major in a lot of degrees that have a low ROI. Even when they major in STEM they outnumber men in the fields which have lower market value applicability, and flexibility. A lot of women have been getting into STEM, but they've chosen biology, chem, biochem, environmental bio, environmental sciences, marine biology, etc. The majority of these degrees require higher education just to be competitive so then they have to take on more debt.

How can you make $100k and live paycheck to paycheck? Get a cheaper housing rental, cheaper car, and dont eat out. Stop spending it’s not hard.

If the government didn't tax people at a higher rate for being financially successful, than they would have more of their own money to pay down their loans.

“You have planted much, but harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it.” Haggai 1:6. ✌🏾

@TheCyberianWonder

2 жыл бұрын

Nailed it! 👌

Am I supposed to feel sorry for people who can’t mange their money? I graduated from college with around $50, 000 and immediately went to work at paying it off…took approximately 7 years. I have no sympathy for people making 6 figures who can’t pay off the money they owe because they “ feel “ they deserve a luxurious extravagant lifestyle.

Too many millennials be like: I chose to overpay for college and have a ton of debt... but I want to ball out rather than prioritize paying it off by living below my means... therefore the government (really people who are financially responsible) should pay off my student loans.

You can 100k for school w no job, but not for a house or to start a business >>>WTH

2 months from paying off student loan... took almost 20years.

... let's not forget the U.S. allocated 2.26 trillion on Afghanistan, lots of money spent overseas, and yet we can't afford to provide every college student with sufficient financial aid despite high GPA'S and coming from VERY low-income families, IDK the U.S. gotta relocate their money on the things that matter for its citizens and residents.

I was ridiculed by professionals and school counselors alike when I stopped at $39k in loans after my bachelors in Accounting. I stated I wanted to work as an accountant for a while before taking on an additional amount of debt. At some point we have to make decisions on our own. It was frustrating seeing all the early MBA programs being marketed. Im glad I waited later to get my Masters with employer tuition assistance and not pressured from others. I safely made the decision on community college first (my parents were teased about this sadly in 2007) then a local state college. I had to convince many young people not to treat it like a vacation. It won’t hurt to go to a state college now so that you can have a life later. Im very proud that I am now getting ready to purchase my 2nd home with my husband without sallie mae holding me back. I cant say that for a lot of my classmates.

If you don't want to pay it back don't take it in the first place

@Frichilsasta08

2 жыл бұрын

Yep, we're all pretty mature and make great decisions when we're 18 right? Great thinking.

@timmebruer5205

2 жыл бұрын

@@Frichilsasta08 I was smart enough not to do this

These people would still struggle to get by even without student loan debt, it’s called lifestyle inflation. The more they make, the more they justify spending more

If you make 300,000 a year with no children and still living paycheck to paycheck, you over spending.

Tell me you don’t know how to budget without telling me you don’t know how to budget.

@E4439Qv5

2 жыл бұрын

You should see the new arcade cabinet I just got.

What's wrong with going to a community college and then transfer to a state school? What's wrong with having a solid part time job on the side and living frugal? Nothing!. What's wrong with 20 year old Lateesha (with 2 little kids from 2 different fathers) going to college in a fancy Cadillac taking out massive loans because she can't work? A lot. I work in academia and I am baffled to see how many students are doing things in life in the wrong order. Starting a family (unplanned pregnancy), having an expensive phone and car and applying for a loan to go to college. This is NOT how it works. You FIRST make sure you have a part time job, THEN go to college, THEN plan on having a nicer car and having a family.

@olympic-ass-eater

2 жыл бұрын

A lot of us go straight to college after highschool graduation. No backup plans in case college don't work out.

I make between $120k-$140k/year, live within my means, no debt, and can't afford a home in Northern CA. That's how bad its gotten.

I’m working my ass off just to pay for school bruh 😭 I can’t buy a car without having the reminder of bills eating me alive, I’m poor asf yet I managed to stay alive, poor henry’s 🤡

Let me play the world's smallest violin for them

@gdc6614

2 жыл бұрын

💯

Poor wittle baybees! Gimme a break…

Making a six figure salary? Shut the hell up. Dude I went to school and only make 40k and my debt is 50k to say I couldn’t get a job that’s the size of my debt pissed me off to say the least. I’m actually living paycheck to paycheck. Wtf are these 100k people talking about? 80k debt that’s what? 600-700 monthly bill?

Reading through the comments and there's so many people missing the point. No one is asking people to feel sorry for Henry's. They'll be fine. The point of this is that it is highly concerning that, as time goes on, Americans are being faced with less and less financial mobility and opportunity. This is trending towards a system where no matter what someone does, they will not be able to attain a respectable level of wealth and comfort. This affects everybody. It means that for the people working a crummy job now, there will soon be no real opportunity for the average person to ever escape from that restrictive and difficult financial position. It means the American dream is on track to become a thing of the past as we all have to live paycheck-to-paycheck just getting by while only those born into wealth or otherwise already have it can be financially free.

That’s nothing new - I had school loans back in the day and eventually paid them off by 40. This isn’t a new phenomena - the personal spending component is the issue

@tmusa2002

2 жыл бұрын

Yes, agree. Younger adults think they need to start out making top dollar. That’s not how it works and so they complain when they see what their parents make. A result of the trophy generation.

Some got caught in the market crash. Rent is so high almost anywhere you live.

This girl is crazy she thinks she won the lottery and doesn't need to watch her spending.

The thing is that for a lot of borrowers they're not leaving college making six figure salaries. Degrees don't mean much I have a master's and make a little more but not in the six figure range. It shouldn't cost that much for a degree.

@jamalwilburn228

2 жыл бұрын

It's why I hated college. They teach "equality and systematic unfairness in society" yet are very happy to charge you $50,00 in debt that will take you decades to pay on a useless degree

@beautifulrosemary6565

2 жыл бұрын

@@jamalwilburn228 agreed

@olympic-ass-eater

2 жыл бұрын

Afaik, degree is just to get you call in for interview. Experience and skill are how HR going to hire you. College tuition is expensive asf. Even community college is slowly creeping close to 4 years college 1st year tuition cost. Student debt should not come with interest.

@olympic-ass-eater

2 жыл бұрын

@@jamalwilburn228 and they dont teach u everything. You have to learn skill outside of the classroom. And they don't guarantee you will get a entry job later.

Nah, this is a spending/financial habit problem more than anything. I understand student loan debt and housing is high, but the same applies to those of us who make under 6-figures. You shouldn't be living paycheck to paycheck in these situations.

That's why Blue collar work is high demand, yet it is back breaking work. So yup it's really hard either way. Inflation is a pain.

My tiny violin broke I played it so much.

What’s going on here in part, is that these Henry’s are living up to their means. If they spent like they made less, they would have a lot more to pay off loans and put in savings. You have to sacrifice the luxuries sometimes to later enjoy them. Especially to enjoy them debt free.

This is a sad commentary on my generation and I find this insulting to most of us. As an old millennial with two small kids and a wife who until recently did not work, we survived with little stress or credit cards usage for 4 years on my single salary which was $70k. We just focused on what was important and moved on. We were mature and honest about what we could/should do. For example, I went alone to a friend's wedding in Jamaica. We only took 2 vacations a year. We always budgeted everything. We also saved for years before kids, which allowed us to survive the unexpected loss and her inability to obtain a job. It's not hard, just be smart, patient and know your numbers. SMH

Honestly i've talked to numerous people with student debt and generally the problem is their lack of ability to budget

@Chasityolaf

2 жыл бұрын

!!! They refuse to budget and live a poor lifestyle until it’s paid off

Dont blame the student loans, when you want the latest air pods, iPhone before paying your debts and saving you are bound to end up poor and Henry

Then do not take the loan. Others work very hard to pay it off and still find it difficult. Did they get a relief? If forgiveness applies to some, it must apply to all. Some who cleared their loans are also struggling, or only have basic necessities since they made the sacrifice to pay their debt. The government would also have to reimburse those who already paid in full. That would be the fair action.