How To Pay Off 6-Figure Debt While Living Luxuriously
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- เผยแพร่เมื่อ 5 ก.ย. 2024
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Chelsea welcomes Cindy Zuniga Sanchez back to the pod to discuss her new book, paying off $200K debt, spending on luxury items and when spending on "experiences" becomes just as mindless as spending on things.
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I'm sorry but PLEASE do an episode for low wage people specifically. 2/3 of americans make at or under 40k. who has $200 to put away into savings every month??? especially for short term goals. for most, the only time people get to treat themselves is around tax season. even then, it usually goes toward essentials that have been put off
Exactly.
is it just me or does it seem like the people who are 'experts' on these things often have a (often high earning) spouse...not to say that this advice doesn't work for single people, but that makes a significant difference.
It really does, because when something goes wrong it is ALL on you, no back up. You absolutely can get it done as a singleton but that's a blind spot a lot of the finance and budget gurus have.
Pretty much. The vast majority of these financial success stories involve a spouse or live-in partner to contribute financially, emotionally, socially, etc.
I was just going to say this. I bet the conversation would be so different if these two were single.
Combined income does help which is why her story is never relatable to me lol
The best advice I can give for young people (high school, college, fresh out of college) who like designer things is to get a job at one of your favorite brands. They pay better than any other retail place $20+ per hour plus commission, uniforms, dry cleaning, cell phone etc, and you get a great discount. If it’s something you’re going to buy anyway, you may as well get a discount in it. I worked at 2 very high end stores and I now have a beautiful closet full of designer bags, clothes, shoes, and jewelry that is insured because it’s actually an asset now. It’s worth so much more than I ever paid for it being that I got them for 50-90% off and the prices have increased.
I'm a teacher but I work one shift a week plus summers at a secondhand clothing store that's pretty curated. Already secondhand prices, plus I get 20% off. I get such good deals on clothing and shoes that I could never afford to buy from their original stores. It wound up being a good financial decision on several different levels.
@@saraisreading4231 that's really brilliant, honestly. I mean i feel like even if you just did seasonal work somewhere, if you plan your budget to allow, for example, a wardrobe refresh
LOL working at those stores is retail hell though. so much ass kissing and they basically teach u to be discriminatory
@@NayNay97xoxo I’ve never experienced anyone teaching me to be discriminatory. If anything, clients assume you’re discriminating when you’re not. It’s all in their head.
This is so true. I work in luxury retail- it doesn’t require a degree and often in luxury, the products sell themselves. Awesome discount and easiest money I’ve ever made.
I'm really glad she mentioned recklessly spending money on clothes in college once she had access to student loans. I did the same thing and feel a lot of shame around using some of my excess loans that way. I finally had money in the bank and could purchase things I couldn't as a child. Was it stupid? Yes. Did I have a full understanding of how much money I had taken out and how to responsibly manage it? No.
Me too!
Ugh, this. I thought i was being frugal by shopping at, like, TJ Maxx, but my spending was so needless
@@supernova622 guilty as well. After I paid off my debt, I was suppose to save but I got addicted to shopping. This all happened in one year. I have had enough, and I started a no spending journey.
M am
I had a smiliar experience mixed with using shopping to cope with loss.
I’d like to hear advice from people who make an average salary, and have spouses that make an average salary please. This is not relatable at all to me.
Yup….we spent a lot of time talking about handbags….we got lost in the details and she lost me after that. This isn’t anything new and sadly didn’t offer a new take on a social worker’s salary in an expensive city. She’s a corporate lawyer that we chatted about when she flew one of the most expensive airlines, the most expensive seat…yes I could pay them off too in corporate law….come on Chelsea
I 100% agree. She tired to be relatable because she grew up lower class. You can’t relate to those of us still there in our adulthood. For example, she could never relate to her own parents.
Agreed. There are many ppl in this country that don’t have anywhere near 6 figure income to fall back on as they dig their way out of debt.
Also I’d like to hear from people with children. Because I don’t think most people want to give up the chance to have children to pay debt off. Or is that just me?😅
Thank you!!!!
I would also like to add that just because own a car you don’t automatically have a car payment. I have a 2017 vehicle that was bought on the auction and fixed up. There are ways to own vehicles free and clear
wait, so if I make a tremendous amount of money I can pay my student loans? I had no idea. thanks for the laugh though. the lack of self awareness is hilarious.
Nailed it!
The secret is a high income. You're welcome.
That helps, but the real secret is to pay off your highest interest rate debt first while paying the minimums on others. If the combined interest rates are higher than what's left over after living expenses, you need to file for bankruptcy.
Hmmm...I perhaps would have edited the handbag conversation out of this conversation. Sometimes you have to read the room and I think for the most part, TFD audience is not one to spend $2000 on a bag esp these days when so many are financially struggling. Not saying you can't buy $2000 bags, but if you are trying to sell a book on how to handle your finances...not a good look.
We doubled our square footage in our last move, and because we are both hobbyists, it has been massively helpful for cleaning - just by dint of the fact that we are able to separate different activities from each other. We have a massive gaming room, which houses my husband's primary hobby and is one of our primary social spaces; we have a library full of two scholars' worth of books that can finally be kept away from the prying jaws of our two dogs without taping protective mesh to the bookshelves (this doubles as a sanctuary for our sweet, oft-times-beleaguered cat); I also have a small room for my sewing, weaving, and fabrics (which is full of pointy objects and choking hazards and needs to be kept from the cat).
The fact that these spaces are separated out means that they get to be on a completely different cleaning schedule from the rest of the house, and I (being multiply neurodivergent) am no longer spending twenty to thirty minutes trying to find what I need to do something, because those spaces are so definitively segregated. Spaces are also *much* easier to catproof, puppyproof, and eventually babyproof. And sure, we were cleaning all our spaces more *often* before, but we had to spend so much tidying the mess, each time, that our actual cleaning time was limited. And we are doing *so* much more of what we love, now that it isn't encroaching on the functional parts of our life.
Our least used room is currently a guest room doubling as my office space, but it will eventually be converted to a bedroom for the children we're trying for. It will be more than filled, in time.
Even our yard is being put to use, as I'm slowly building a garden that will be responsible for most of our produce needs.
I get how overwhelming a larger house can be, but the actual living quarters of our home are quite compact, and everything outside it represents something we care passionately about but once we're tripping over, in order to live our lives. The QOL difference is one thing, though. The supposed cleaning difficulties are another. It is so much easier now, in a way that I absolutely could not have understood.
I love this. This sounds so cool! 🎉 I have really grown to respect the value of space…. Not too much but enough. It DOES make a difference.
I appreciate her honesty, but would like to hear from someone who is single, with NO family assistance, and has an average salary. Unfortunately, I can not relate to her story.
About the bags, I would rather buy well-crafted, high-quality local bags and accessories. They are also at a premium price, but they also support local business. Chances are, the owner lives there and pays local taxes.
Plus, traveling with an obvious luxury bag makes you a target for theft. I don't get why regular people without security detail get luxury luggage, even.
Sometimes it's a quality issue. I have a Kate Spade suitcase that I bought because it had a lifetime warranty until LVMH bought them out. They would do any repairs and stuff. You're not just paying for the label. Personally, I enjoy designer goods for what they come with. Can't stand logos tho. Do not perceive me.
DW also came out with documentary on Luxury fashion (now removed from youtube and their website), and it showed how underpaid the workers in the Italian tanneries are, how bad the working conditions are and how all governments pretended they do not know anything about it. If luxury fashion treats some of its employees the way Shein does, then there is nothing luxurious about it. Costs for the fur they showed are kept low (3 dollars per rabbit hide) by, for example, not killing the animals before skinning them. And the documentary made a point of showing it, so, yeah, F LVMH and Co. //Also the quality of some of their products is questionable
I think a lot of people don’t realize animals get skinned alive for their shitty coats and accessories
Chelsea, you are so right about going to rich neighborhoods and going to secondhand stores and finding designer items. I grew up in Connecticut, and my mom would go to the Stamford Goodwill and find an entire box of designer purses (granted, from the 80's, but still) and buy them for me to use and give to friends - like I would return to college and give someone an outdated but still real Louis Vuitton or Gucci purse in great shape.
Now that I have little kids, she still finds ridiculous stuff like Polo or Janie and Jack jackets in really good shape, and it's a huge cost savings for us. Wish more people realized this - try thrift shops in wealthy areas to find amazing deals.
This reminds me of the time I went to a Goodwill at a wealthy neighborhood and found a Northface jacket for $60. The original price was $150
My Mom used to drive to Florida (12 hrs) for vacation and hit up the thrift stores in the affluent areas. The Snowbirds would shed their seasonal clothes and she would buy them for next year’s wear. She didn’t care if they were so-last-year. She keeps her clothes forever anyway!
Buying quality used means your dollars stretch further and you can be more mindful about buying what really works for your style without having to replace items constantly from them falling apart.
I love TFD but I would like to second a lot of comments that I would like more content from individuals who do not live in a city. Where I live I have to have a car and owning a home is cheaper than renting an apartment. The financial dynamics are just very different. Also, can we please talk about how trying not to own a bunch of unnecessary stuff is soooooo difficult when you have kids and toys are cheap and everywhere? So, in short, I would love to hear from some guests that have a more "generic" American experience.
Agree completely, I live alone and after living in apts and small condos my entire life, I bought a 3 bedroom house with a yard in 2020. It's one of the best things I've ever made for myself. I work from home so its been wonderful to use one room as a dedicated office and having a backyard of my own has been such a blessing, that I don't take for granted. I also had family stay with me during the pandemic when they were out of work. It's easy to say one person doesn't need a 3 bedroom home, but its all relative. I've worked hard for my home and my mortgage is significantly cheaper than it would be for a 1 bedroom apt in this housing market and I've got a decent amount of equity. On the flip side, I don't have a gym membership and choose to workout at home and cut costs in other ways that work for my lifestyle.
A corporate lawyer salary is KEY here.
Everything else mentioned is subordinate to that reality yet it's mentioned as some kind of afterthought.
Sensible measures on spending but they won't create that salary.
Bottom line is your outgoings must never exceed your incomings. There is only so much spending discipline you can do if your income is low. This discussion is blithely skimming over this reality.
Trust me us poor folks who are forced to have a car, we know how expensive it is. Especially when you live in places that can hit 110 degrees, standing outside at the bus stop is life threatening, you must have a car hopefully with air conditioning.
i'm from belgium here if you don't have a car (except big cities) some employers will just throw your cv away because how are you planning to be on time like when i was working in a city 15-20 minutes away by car i had a bus only every two hours AND i had to change bus 1 or 2 times depending on which bus would be there where i changed and then people tell you well if it's so hard financially sell your car and take public transportation like... try this maybe get a reality check -.-
@@Rexylaika I understand, I had a 6 hour commute by bus at a previous job. With all the bus exchanges I had to make, it was 3 hours to get there and the same back home. I caught the first bus out of the hub each morning. It was a nightmare until I got a car.
Agree with having a cap on the price of the bag. But disagree with being able to sell your bag for a profit. Also, luxury resellers get a % so most of the time, you’re selling at a loss. If the bag is not in a pristine condition, even the smallest flaw, dramatically depreciates the value.
My advice: 1. Have a cap as well on the number of bags you would buy. I say 3 is a good number for luxury bags. One daily workhorse, one special occasion or night out and 3rd for travel. 2. Buy for the person that you are, not your fantasy self. Ignore the trends. 3. Buy secondhand. Not only are they typically cheaper but the quality is better especially with fashion houses such as Louis Vuitton and I hear, Chanel. (Gucci better to buy brand new if it’s canvas.)
Man, must be nice to actually have public transportation that works, haha. Rural areas, you gotta have a car... or rely on someone else to drive you absolutely everywhere.
rural areas are good for vacations only. not to live. unless you have a remote job. food for thought.
In Australia, our transport is pretty crap in general because everything is so spread out but the cities and metro areas have actually become completely unaffordable for average incomes. Moving to a regional or rural area while you pay off debt or to access the property market is actually a great idea and at the moment wages are inflated to encourage people to move there because of worker shortages.
@@bonnie6866 yes because every can and wants to move to higher cost of living areas /s
Trust me, "works" is an overstatement lol. It's a sad state of affairs when the MTA is the best America apparently has to offer.
@@bonnie6866 I suppose that depends on what types of leisure activities you prefer, and if you derive a lot of your quality of life from being in nature.
Maybe I should write a book! I paid off $155K making way less than BigLaw money. The tips are good. Values based spending etc. But the numbers in and out matter more than anything else.
How long did it take you?
Agree. I am an attorney and I don't make that amount of money (I opted out of high billable hours to be able to have a family). We want to know the numbers!!!! It makes a difference.
@@YoungLadyInRed I graduated from law school in 2006, paid the standard $1100/month for years until I got very aggressive in 2014 and started paying $3000+ per month. Finished paying in 2018. Earned between $75k-90K during that time. Now I make $150K and can't believe I lived on soooo little during that time.
DO IT DO IT 🎉 Write that book!!
I don’t get this video at all. I was looking so forward to watching it. The second the lady was saying how she paid off 200,000 in student loan debt. Like that’s great. Congrats, but you’re a lawyer… she kept saying how she was introduced to such a high salary because of her new job. Paying off that much doesn’t seem so difficult to me if you have such a high income. Then her saying “I GREW UP POOR, I KNOW WHAT IT LOOKS LIKE” , no , you know what it looks like from a child’s perspective, from a teen’s perspective. Not as an adult who actually shoulder’s responsibility. Idk , congrats to her, I’m sure she worked hard but flying first class, $2000 dollar handbags. I can’t relate my love.
It's really annoying.
Yeah, the "I know poor statement" is so lame & she really believes what she is saying. Poor is no water, electricity, shelter, food, healthcare, internet, cell phones. She was "U.S. poor" and it doesn't even sound like she had other social issues in her household like drugs/abuse, which in of itself makes her rich. Yeah, these NYC people think the world revolves around them. Sounds like a prison to me... who wants to live in a stinky, dirty city, living in an overpriced cracker box, walking & using dirty public transportation? Yuck, I can't believe they think that is "the good life" or anything to aspire to? I will keep my car & my house and my kids. I think my lifestyle is much better & I just feel sorry for these people because they don't know what they don't know!
@@sassysusie9243 It's the smugness that I can't tolerate. It was so easy for her, simply because she got qualified and a high paying job. So many reasons why many cannot do that but she's full of herself. Tone deaf and smug.
I had items from my parents, grandparents & great grandparents. I’ve also thrifted some. These include knits, handbags, jewelry, etc. High quality craftsmanship lasts decades!
I have a 1500 sf single family home with 3 bedrooms - my brother lives here and I work from home so the other bedroom is my office/guest room. And we have this stupid den addition that we basically never use except to walk to the laundry area because it’s long and narrow. When we have kids, I’ll move my office in there but otherwise, it’s a bit of a waste at the moment. And yet people call my house small! American housing is insane.
I live in a 1200 sf condo with my husband and we’re going to have a kid soon. It’s more than enough space but lots of people think we’re crazy for living here with a baby! I don’t get it.
My situation is very similar-I’m renting a 1300 sf 3-bedroom home, my brother lives with us and my husband works from home so has the spare room as his office. 3 adults and 1 cat in 1300 sf is plenty! I’ve posted before that I would love my own dedicated space in our next place, but I don’t need a whole room for that…an alcove or a corner out of the way of the main thoroughfares would be just fine. It’s crazy because I’m from the Midwest, where anything under 2k sf is considered “small.” I have no interest in cleaning/maintaining a 2,000 sf house, even as a renter.
That's so spacious what? 😭
I'm in a 1400 sqft house and I'm married with 2 kids. It's perfectly manageable. The previous owner had a husband and 4 kids! They moved because they had 1 more on the way.
I live in the UK and the reactions of some Americans in a DIY group I'm in when we talk about the size of our spaces is mad.
I own a 350 sq ft apartment in the south east where housing is SO expensive. Was it small? Yes, but it stopped my accumulating stuff I didn't need and was sufficient. When my ex and I moved into a 650 sq ft 2 bed house together it felt plenty big enough for us.
Even now I'm looking to buy alone in a cheaper part of the country and am looking at 3 beds 1,000 sq ft (I'll be renting out 1 room to help with the mortgage) as my new job is working from home and I'll need an office. To me that feels huge but to most Americans would be tiny!
If you resale a designer bag, you probably won’t get top dollar unless you use a reputable reseller. Resellers will take a commission that will most likely wipe out any profit.
You lost me at first class flights and 2k handbags 😬
This is so elitist as a conversation I don't know how they keep a straight face. Seriously!?
Plus the mention of the all important partner. If you are not partnered you are going to incur twice the expense. There is so much prejudice against being a singleton, starting with tax disincentives. Being single is a choice that we should be able to make, but it is constantly being penalised.
How about a video on that?
Hah, same! So unrelatable.
I don't quite understand the hype ... you can pay off higher amounts of debt faster with higher income.. it's pretty insulting to our intelligence. I could easìly do that because ive learmed to be thrifty as a way to get by..people work much harder paying off small amounts of debt simply because they are underpaid or have more expenses (ie they have kids).
Agreed 👍🏽
Was super excited to work from home. Only need my car once a week (very limited grocery delivery availability in my area). Saving on gas, insurance, wear and tear.
And then mom's car died. And she really shouldn't drive. So now I drive mom. To multiple weekly church events, many doctors, and HER groceries (and to clean her apartment). Plus driving grandchildren. Really looking forward to carless.
LOVE HER! I resonated so much with adapting minimalism to move away from the clutter I grew up with in my chicano household. Clutter drives me absolutely insane because I grew up surrounded by so much JUNK!
I resonate, and have found that using vibrant colors and wall art is how I connect with my home & upbringing
i can SO relate to the choice not to have a car and the *shocked* reaction that so many people have to that choice, like...? i can drive/i've always kept my license active, but i don't enjoy driving and i've always lived in cities with great public transit. i recently moved to a slightly smaller town where it's a tad less convenient, but there's still plenty of public transit/walkability/uber access, PLUS the reason i relocated was to move in with my girlfriend and it just so happens that they DO have a car. even so, i have so many friends who are just used to the idea that a household/family necessitates two or even more cars, one for each adult... it's one thing to have different perspectives on financial priorities, but at the very least those people who feel that cars are necessary for their own needs need to stop being downright argumentative when they come across someone like me who simply doesn't see that as a need 😅
so much this! big space just means, longer travel to work, more time required to clean it, more time and money to furnish and care for it! giant waste of time and money. I notice couples where either they stay in city in smaller space to support 2 careers, or they move far out and someone (usually the mom) sacrifices her career so she can be an unpaid kid chauffeur and maid?? a terrible tradeoff in my view. those moms struggle mentally, of course.
Living below your means is great, preach sister! My household makes $1M/year but we live on only $120K.
Do you invest the rest?
@@lowwastehighmelanin I do invest the rest, yes, into a diversified set of index funds.
Is that pre tax?
@@snowballeffect7812 Yes that’s pre-tax. 40% goes to federal/state/local taxes, 12% to expenses, and 48% to savings.
@@iTzDritte tq 5 breakdown.
It's easy to forget that for each unfurnished, unused room, there's one or more homeless person that could not afford a roof because of the house market crisis. Cities need to be thought again. Amazing video and amazing conversation!
Write me 👆
Sad 😞
This is honestly a great discussion. I think it’s really overlooked the amount of space people need vs want. And society always tells you otherwise get more, bigger. I really loved this video
👆🏻👆🏻👆🏻📩
Read Deluxe: How Luxury Lost Its Luster by Dana Thomas before you start dropping big money on designer bags.
As a person who spent money on both good - bad, necessary- unnecessary things I think when you have really fulfilling ‘time to time experiences or expenses’ like traveling, getting together with a loved one, or even saving up and buying sth very special to you actually makes you so happy and motivates you so much that you know how to stop yourself spending that money for instant gratification.
Hating the beginning of this video, reading the comments I can tell that I would hate the rest.
I'm pretty annoyed that she says at the beginning that she disliked all the old white men's advise about frugal living and paying down debts, then goes on to describe a lifestyle that would be unaffordable for most even without a debt.
The whole thing is pretty smug and tone deaf to people not pulling in vast salaries. This includes college graduates who didn't land the job, for whatever reason and now work in less renumerative work but still have the debt. The debt forgiveness that Biden has been introducing is a powerful thing.
Facts!
@@deborahcurtis1385 100
@@kellyjune Yeah pretty lazy.
I’m looking forward to this dialogue!
Chelsea I love you but can we expand the circle of topics away from childless NYC people? I'm a mom and the cost of childcare is a topic that would be great to cover. I also live in California and owning a car is pretty much mandatory if you want to work and live. The ability to have no car is a luxury. The advice and topics is getting very repetitive.
Finally someone said it 👏🏼
Amen
I’m childless in NYC. works for me. 😂😂😂
Coming from a smallish town in Alabama, I do like the idea of public transportation and it can save you money. I visited San Francisco and DC this year and I like that they had rail systems, a lot of buses, etc. However, when you factor in high taxes, spending thousands of dollars a month for a cramped apartment you'll never own, and other basic living expenses in the long run, you're still spending a lot of money, compared to small to medium sized towns where you have to drive everywhere. I wish we wouldn't romanticize large cities so much. Yes, they are fun and have many conveniences, but you're often paying a lot to live there directly and indirectly (taxes).
You would not make Alabama wages in San Francisco or DC tho
@@vulpixelful I make six figures, so I would be able to live comfortably in those cities but again, a good chunk of money is going to be taken out in taxes. That money goes a lot further in other towns and states. What good is having a higher salary, when the difference is just going to be taken out in taxes?
Good public transportation isn't just about "convenience" - it's also about accessibility, equity, and the environment.
Well for starters, the taxes pay for the buses and trains and roads in good condition and some of the other perks of city living. I grew up in rural MS and now live near DC... I make 6 figures... And I'd rather pay the taxes here and get the collective benefits of that here than live on multiple acres in rural MS and have my idea of cultural activity be driving 25 to 50 miles one way to go shopping in like Jackson or tailgating before a football game while 15 to 20 percent of the population lives in poverty (2020 poverty numbers for MS and AL).
I've lived both. Prefer the city. It takes all kinds.
Additionally, cities have an added benefit of infrastructure (like mass transit) in place for everyone (including visitors) to substantially benefit. Trying to travel home to MS and get around that state can only be done by car for the most part. It's not a great experience imo.
Final point: if you value diversity (people, religious beliefs, cuisine, walks of life, etc.) you will be more likely to find it in a city, and yes, higher taxes are worth having that kind of quality of life.
@@acivilright to each his own. I don't live in a rural part of Alabama and Atlanta is less than an hour and a half away from me so if I wanted a bigger city feel, I just go there. I know of people who make 100k in NYC but only pockets 67k. That doesn't seem like a fair trade off just to say you have access to an overcrowded smelly subway.
I hate that we’ve made buying luxury-priced goods a norm for average Americans. This may seem judgemental, but I don’t think you should be buying luxury goods outside of rare treats/gifts when you make less than 6 figures. I feel like people have these items but aren’t contributing to retirement plans, have cc/student loan debt, and don’t have emergency funds. There are many high quality, nice items you can buy at lower price points.
Agreed...something that used to be just for the elite became normalized due to Sex and The City and reality TV....we don't need this stuff, and 25 years ago most [regular] people didn't know what these brands were.
I wish this was longer. I very much enjoyed this episode
This advice is relatable to me, but it’s drawn out in such a way it makes me not want to listen. Your edge is that you are not those boring finance dudes. Don’t structure your content like them. That’s why we’re here, bc you’re NOT them.
My apartment is just under 900 sqf and all this space depresses me. Like everytime it's time to clean i get depressed. Like i spend 90 percent of my time in the same part of my kitchen and am always surprised when I get up and see all that space.
Like...
Your apartment looks so beautiful and lux! The color schemes are bomb! Would you make a home tour video?
That’s her office
The carless content is so unrelatable. It is not possible in the most of America.
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Truth!
I love this conversation, it was real, even though I’m nowhere near this tax bracket I didn’t feel left out of the conversation… I can apply everything she does to my own experience. Refreshing, I plan on reading her book.
There's so many stories of people who used to work in finance, tech, corporate law or some other $$$ job, use it to fund their dreams, and for some, use other industries such as publishing in NYC to write a book about it or to go into fashion (see former Lucky magazine bios).
Now more than ever, I wish I didn't live in Houston, TX. Pretty much the entire state seems like it's rigged to force people who are not wealthy into the cycle of car-dependence. In my home city of Houston, there are maybe 2 "walkable" areas. And I say "walkable" in the context of having actual sidewalks, and access to a grocery store that sells real food (as opposed to a gas station that price gouges essentials or a Dollar General that doesn't have fresh produce). Those areas that don't require a car to live in are more expensive than anywhere else in the entire city, let alone the affluent suburbs on the outskirts.
I spent a year driving an hour away (longer when I tried to save by not using tollways), and I work 12 hr shifts. So I spent an extra 2-3.5 hrs each workday just to get to my job and back home. I would've LOVED to spend that same time on a train instead of being forced to fight my way in and out of traffic.
Now I live closer, but I'm still forced to drive because of the streets and highway systems in place. To use an Uber to get to work would literally cost the same as paying for maintenance of a vehicle, and the suburban areas don't have a single bus.
Love you both, loved the general advice on sinking fund and baking honest with oneself, but there was too much luxury hand bag talk for my taste. Not relatable at all.
I felt what she said about the buying stuff in college that your parents did not have the money for. Plus, I have the addition of being plus-size and so I used to buy all the stuff that woulf "fit" me, the ones that would be large enough for me. Note: I live in France, and back then plus-size was not widely available, still today, but back then it was even less. When I found Marie Kondo, I started limiting my buys to clothes in my style and the ones that would really fit me. Not just any frumpy big sized item. Id get out of the shops with nothing most of the time. But I feel so much better about it now, and I feel like it has enabled me to go out of my comfort zone a bit and try bright yellow as a color for example.
Absolutely love this ❤
Lol. The TH-cam put a Dave Ramsey ad in front of this video.
I love him. Haha
I agonized over the decision to go to law school… it was a childhood dream. But I just couldn’t wrap my head around that level of debt. Fast forward… having previously worked in billable hour environments and heard the horror stories it’s a HELL NO For me. Now I’m less afraid of investing in my education… it’s got to be for something in which I fully understand what I’m getting into and what the returns will be. I think certain types of advanced education should be viewed as starting a business. I’m so glad it worked out for her though.
This has got to be the most relatable episode of The Financial Diet ever. 🥰
👆🏻👆🏻👆🏻📩
Great talk but I think the title is misleading. Not accurate at all
I just bought my first home (Maryland). It is 1500 sq feet.... And it is absolutely a ridiculous amount of space as a single person. I would be fine with less than that, even as small as 750 as a buyer. That is a spacious apartment for one person. You also have to think of utilities and absolutely cleaning and furniture. I say this as I sit in a 3 bedroom house and only 1.5 rooms are even occupied.
Well get a room-mate in! I've shared with students, foreign students, single mothers for many years. This sort of thing doesn't rate a mention on this channel. Disappointing.
Cindy is amazing. Thank you for bringing her back (and I hope she comes back soon, same as Hannah Louise Poston!).
I totally agree with a lot of this I’m only halfway through & I’m a handbag girl too but it has to make sense. $2000 is a great cap for them. And quite low when you see the cost of like she said Birkens. Hermes alone is extremely extremely expensive. If you’re not going to into debt to make the purchases where you’re buying bags versus paying bills then no problem with it. I also completely agree with regards to the Flights it’s not a big deal to me but I will spend money on my hotel stay because for me that is the experience and where I will get a good nights sleep because I also cannot sleep in public places
7:00 pay off the debt OR fight for a system that doesn't inflict debt on you........choices choices
You think you're (whoever you are) smart but look what you choose.
And it screws us all.
If college didn't make you smarter than me, you wasted your money.
this is a great chat
We love seeing Cindy 💕
Does Chelsea have any advice on learning a second language?
Working with a tutor
Awesome content girl, honestly understanding your financial needs and chalking out a plan remains the smart way to prepare for the unexpected. 11yrs in investing space and extremely pleased with the decision I made.The good news is - it’s not too late
congrats! I'm fascinated with investing, as a single dad and juggling all these things are quite difficult. Invested $ in few sectors but haven't seen any profit yet. Do you think i and my wife are missing out something?
@@alrikclemens imo Success Depends on the action or step you take to achieve it. Show me a man who has no investments and I'll tell you how soon he'll be broke
@@alrikclemens Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional
@@leonflorian1298 I invests with (Eleanor Cecilia Schnell) a widely known consultant. You can make a quick internet research with her name mentioned where you can easily get in touch
@@alyssabjorg4113 I’m delighted to engage in this opportunity, I just found the professional’s web page and have already written her.
Thank cleaning and furnishing thing is SO real!! I think a lot of millennials are doing away with the idea of the “dream home”
I love this episode. But oh, my! Please, leave those cars alone! Owning a car in the city is not about driving around, it is to drive OUT OF THE CITY. Everything is connected to your lifestyle. I can own a car and drive to LI, Catskills every weekend for a walk in the forest or sit by the ocean, or spend the same amount on car rental/train tickets or ..... exploring restaurants in the city.
Write me 👆
Getting the impression she doesn't need a car...
nice :)
Where is the link to the event?
CHEALSEA PLEASE STOP SAYING "YOU KNOW"
Да, слова-паразиты.
Trying to portray humility while humble-bragging about $2k purses? Tone deaf. Out of touch
My life has changed because I've been earning $15,250 returns from my $4,000 investment with Darien.
Wow you prioritizing a bag tells me you are broke..
I take the flight, at least I’ll get a healthy sleep
People get to choose their own priorities, and she keeps it within her budget. As someone who also cannot sleep in public, I totally understand skipping flight upgrades because it would basically be wasted money.