the amount of comments reflecting this sentiment is infuriating. TWO generations.... TWO! fucked over by clowns mumbling something about the "interest rates being too high" and "inflation" affecting proper wages. interest rates have finally breached 5% after years of being under 2%, company profits are breaking record after record, and the c-suit is failing up from one burning trashcan to another while somehow earning more. they must think ys and zs wont walk out again. or unionize. bet.
@@aussieskitz yes I’d assume so and good shit how long you been doing that? It’s a goal/dream to do van life or rv living for a year or so depending on how well I do.
@@OneEyedreaper Yeah it's awesome bro, you don't have to spend much either. Such a good alternative, it'd be gaining in popularity due to the cost of living too I rekon. Paid 6k for my van. Been on and off on it for 3 years
I said out loud "I have a checking account on life support" right before he said we have a checking account desperately trying to save itself and it fucking sent me.
I felt shame about being in my 20s and not having a lot of money in my savings , but this post help me understand life just kicking everyone ass not just me
It’s kicking about 50% of peoples butts. The issue is the stratification of classes. The ~50% of capital owning people are getting richer and richer while the ~50% of non capital owning people are getting poorer and poorer. And that’s the point as well. By keeping the top 50% of Americans believing things are getting better and telling them the bottom 50% are just lazy is the 1%’s plan to consolidate power and kill off a bunch of poor people.
I know right I thought it was only me not have a cent after bills but it’s all of us. Really what are they doing to the economy well lets fight for as long as we can right?
@wydua2049 it's not free, you pay for it in taxes lmfao. Capitalism isn't the problem and Communism ain't the answer. We aren't a Capitalist society anymore, we've been an Oligarchy for a while now with aspects of VULTURE Capitalism.
I am 38. I cam save money. But for now, have to spend money to save money. Once I am in the right position. In yhe next 4 months. No holding back. I have the path. I will have a house in a years time.
When I was 23 and didn't have living expenses or medical bills, I was able to save up to $5000. Now I'm approaching 30 and I can barely set aside $500 for an emergency. Life is expensive
I feel ya man. I had something like 2.5k saved from working 2 jobs starting when I was 15yo but all of that went to medical expenses before age 22 and my illness disabled me. I'm not even allowed to have assets exceeding 2k let alone saving that amount again.
@@IW3527the asset limits for Medicaid are the worst! As a case manager I had a client go into rehab after hurting his ankle during a seizure, and lost Medicaid during his rehab stay because his expenses were different and he accrued too many assets. So when he got home he had to buy a bunch of stuff to use the money up to get Medicaid reinstated, and use retro-pay to have Medicaid cover his rehab stay. It was so stressful on the family!
@@EikottXD what's wild is it even hits things like pell grants, if I apply for the pell grant or any federal financial aid without being accepted into an extremely specific state program my disability benefit can be cut and I can be charged with fraud. There are so many cracks to fall through it's terrifying.
My mom always told me that you need to be prepared for emergencies, I have almost always had enough to pay at least two months of bills in case I get hurt at work or I lose my job for shit comes up that you need extra money for. The world doesn’t care if you broke it still gonna want the money.
yeah this is my reasoning, I'm 26 but I always have money in my savings account to cover any emergency. The trick is not considering your savings as money to spend, and just living off of your income. If you do spend savings money, go full poverty mode for as long as it takes to get that money back.
I met this young man yesterday at the bank... He waited for an hour to ask questions about opening up a savings account. He told me that's his new year resolution, to be more financially knowledgeable and stable. I told him that's a great move and I told him that since we are no longer a country that give workers pensions for retirement, he needs to learn as much as he can. I told him I'm sorry he had to wait so long at the bank and wished him the bestof luck. I have always said we need to bring back basic financial classes to high school students. This man shouldn't have to waste an hour of his life just to learn about savings account at the bank.
The problem isn't high schools. The problem is all these corporations (like banking institutions) who aim to keep us living from paycheck to paycheck. Financial literacy nowadays is just corporations teaching us how to embrace the "gig economy" lol.
Me looking at my -80 dollars in my checking after Progressive took my insurance payment out today "Guess I'll just eat rice and air for the next week."
$30 for 25 lbs of rice at an Asian market and if you add double the water you can make congee which is how Chinese people used to stretch their rice out during famine and war before China was one whole nation. With just some ginger and light soy sauce that bag of rice can last over 2 months for a single person. That's what we used to do as kids when my parents immigrated to the US illegally but back then 25 lbs of rice was around $18.
When I was working in my early 20s I lived at home & bought my own groceries, paid my own bills etc.. I was thankful to save up $ & I had over 30g saved up. Now I'm almost 30 & there is no savings. Prices gone high & bills keep coming. Hats off to this new generation. Hard to survive out here!!!
The worst is when you finally have like a few hundo in the savings account after weeks of setting money aside and SOMETHING goes wrong and you have to use all the saved money to fix it, and now you're back to square one
I’m 30 now and this is still ongoing. I get comfort knowing that I’ve at least invested in my health since my early 20’s so i can keep going to work everyday. Nothing in my body hurts, just my soul 😂
@@ashuranero5721by slowly cutting out unhealthy foods and harmful products from my life and going as natural as possible. Even tho certain hygiene products and dietary supplements may be more expensive, it is worth the investment
I am 63. My small savings account died during the lockdowns and has not been resurrected due to the rampant inflation the last few years. All the "adulting" survival stuff I learned in Home Economics Class has gone out the window. I feel so sorry for young adults like Jordan not having the same America I grew up in.
This. Im 33. My children were born before I knew the direction the world was going. A few years ago my family of 7 was able to afford a large vacation on a single income.. now on dual income we are paycheck to paycheck and often having to get food on credit. It's no longer an age thing... its a 'this economy is bullshit' thing.
@@angellicaderangedTHAT PART. People, especially some modern women, need to understand that the days of middle class one income households are OVER. Most everything we were raised to prepare for as children do not exist in this current environment. We are up a creek without a paddle and half of an overpriced canoe.
As a mexican, I honestly thought "savings account" was some type of foreign joke like sarcastically saying "ah yes the savings account next to my yacht that Donald Trump likes to borrow"
I'm 70 and have no savings. Or retirement. I spent it all just trying to live every day. It's hard to say for a future when you've got to spend every penny you've got on today.
@@matickon we lived. On the money. That we got. Working. Do you think inflation is a new concept that only those under 24 cam experience? I am SIXTY and in the same boat. TWICE I have managed to 401k up to 10k and had to withdraw it both times, down to zero. Lady above and me (and my sister) are all as screwed as you are. We are the drugs of society that did not meet good marriages and couldn't get any purchase in the working world. We were always nice and accepted a lot less than we are worth, for some of the most amazing service work known to mankind, that of taking care of the elderly who are helpless and alone. Alone. That's why I'm broke. At least I can say for myself
You were alive when things were still reasonable. It is not the same. When coming out of high school/ university directly into the Great Depression of our time completely decimated millennials chances to the extreme. But many of us still hustled and scrapped together a decent life. Many did not. A lot of my friends are dead from suicide and ODs. We were the generation that was given OxyContin for relatively minor injuries as teenagers and told it was safe and not addictive… I’m truly sorry you are going through that and don’t have any money or retirement, but what were you doing when things were much easier and people could still have a whole ass family, a house, and a car on a single income? I’m genuinely curious. You were alive during the 50s/60s which many could argue was the most prosperous era in US (and most western countries) history.
I agree. I was in the military living on base with no bills and STILL had nothing in my savings account, and my checking account was near zero every month.
I'm in my 40s and it's the freaking same!!! Unless you manage to get a good job, forget saving ANYTHING. If your car breaks down, you part it out and buy another $100 wonder...
I have a "good job" for my area. Still doesn't help 😭 my vehicle has been in the shop since October because I can't pay for the repair they did on it. Because while it was getting repaired I suddenly had a huge electric bill that needed paid. And it has to get paid because for some stupid reason you can get evicted from your apartment if the electric gets shut off.
At age 23 I had a Savings account of $10,000 plus. True I had really awesome parents growing up who taught me the value of setting money aside. I realize that this is not the norm for everybody… But I am grateful that it was the norm for me. It has allowed me to continue to live my life… And deal with the numerous medical issues that have cropped up.
It's not about learning there is value in setting money aside. Most people know that. It's having the privilege to be able to set money aside... I'm 31 now and have saved well, but from 18-26ish I wasn't able to keep more than 500$ despite how hard I tried to live on cheap food and the bare necessities. My parents weren't able to help with gas or phone bills or lunch once in a while unlike some of my friends who got plenty of support from their parents at the time... It was embarrassing to be so frugal and hold people accountable when they owed me $5 but I had to... So happy to have grown past that now and capable of helping my little bro and saving up for myself, but when I see others struggling it breaks my heart because I know how hard it was.
I am 29 and my parents didn't teach me anything about financing money except my dad would always say "Save you money" which doesn't help in today's time.
Honestly this is soooo encouraging. I have been working so hard and have been thinking that I have been getting no where, that I am not saving enough or fast enough to reach the goals that I want to reach, but hearing this I know that I am ok. Thank you
I’ve been a banker since I was 20 and I’m 30 now. most banks have a save the change type feature that will move a dollar every time you swipe your debit card USE IT! That dollar isn’t noticeable but when it’s at 50 after a month it is. Save while you spend and don’t touch it ive had clients who spend and say they can’t save end up with a few hundred by year end. It’s all about starting savings young.
I'm 30 turning 31 this year and every single penny I've saved went to paying for my livelihood and its absolutely not because of irresponsibility, it was absolutely because of necessity. That's the problem. I had a savings since I was a preteen and had 3 IRAs, all gone.
FACTS BRO I literally got $0.08 in my savings account and I'm about to turn 24. I've tried putting money into my savings each paycheck, but I'm just barely making ends meet. I'm not even paying for a car and I'm still barely making it out alive
Can confirm: currently 33 with 10k in checking and 25 cents saved in my car’s cup holder. It’s not that I don’t want to put it in my savings. It’s just that every time I put money in savings some catastrophic event happens and forces me to withdraw it.
@@lildaisysmom4584 laugh or cry, the universe is indifferent 😐 Sorry. As a millennial, discussing my financial future makes me nihilistic in the extreme.
Since I, 22, still live at home due to 8% apr on housing, I have done everything possible to shove my money into savings and spend as little as possible. Im very grateful for the job I have in cybersecurity that has enabled me to save.
hi, how did you get into cybersecurity? i was thinking it might help me break out of having to rely on social assistance but id be starting from scratch
@@anqeal Look into Comptia certifications and look into downloading course material for the CEH Certified Ethical Hacker Cert. You obviously need to be tech savvy to succeed but the hardest part is finding a job in it.
My daughter has worked since she was 16. She went to college on the east coast full time and worked full time. When she graduated she came back to California and worked full time. She just turned 24 and has 42k in a savings account and 38k in her 401 k Her work ethics are from me 🤷🏼♂️. I have worked 70 to 80 hours a week for the past 35 years. I’m 66 and still working 40 to 50 hours a week. I love it.
I love the attitude of "just earn more and spend less" lol. I am way better off than most people but I know I got ultra lucky. I was broke from 18 - 30, I had more money as a teen because of jobs and stuff, but as soon as I moved out of home it was instant poverty and that was in 2005. It's worse now.
At this point, I'm just trying to enjoy life living paycheck to paycheck. Even death doesn't scare me anymore. Cause it can't get much worse than this. Lol
Same. We're all going to die anyway. Might as well just enjoy whatever we can afford while still pay off the bills and rent. Hell, at this point, death is the least of my worries. Getting in an accident only to end up in a hospital with a bill at the end is scarier than death.
I'm in my mid-50's. I didn't have a savings account until about 10 or so years ago, and that was because I had enough money to want to keep it out of sight and not "Oh, I have money, I can...!" Also, I highly recommend having 2 checking accounts. One for bills, one for food and gas spending, and be diligent about never overdrawing one of them, preferably the one your paycheck goes into. Because if the bills gets overdrawn enough, you will have no money when your next paycheck direct deposits. (I lived it in the early 90's. Sucked massively.)
This video made me appreciate my situation 10 x more bc im privileged enough to have minnimal bills and not much to take care of besides a cat and a car after household items mostly for the cat, anyway i am still broke with my mattress on the floor but its appreciated brokenness
in my checking account i keep essentials like bills and apartment maintaining and my savings essentially serves as a rent storage bc I am terrified that if it's in my checking I'll have a false confidence
Facts and everyone got different problems and walks of life and deal with way different economic conditions year after year. It’s hard to have averages
😶 I still live with my mother, so although I might have to eventually pay her a little bit of rent, I'm financially stable (although I'm mentally unstable, otherwise I'd move out).
Im 23 in university and Im very blessed to have my family still able to support me, my school costs are covered by scholarships and federal student loans which pay more than needed for my tuition which leaves me some money as refund to use for books and other school supplies, the rest is in a savings account which is just above 1000, my degree is in mechanical engineering and gpa is not high at all, 2.6, but I am worried about how hard it will be to find a job in my field when I get out cause Im struggling to find just an internship right now.
Don’t worry about saving… if you want to poor. I’m 27 with a home, a 6 months emergency fund, RSPS, a TFSA account, and a car that’s paid off in full. If you feel at ease because other people don’t have money either, you need a better strategy. If you save for your future you can have a better life. When I got cancer this year I would have been out on my ass if I didn’t set myself up. Life will throw awful things at you. My best advice is to get ready now by setting up auto-contributions. Even a couple hundred dollars a month will make a huge difference in the long run
This gives me life. I have seen financial/life advice shorts where the person was like "I put away $25,000 into savings this year" and I cry bc that's half my annual salary and I'm 30.
I’m in my mid-30’s, have had a savings account since I was 7, and that allowed me to buy a house when my wife and I got married. The problem is generational wealth, I’m not rich, but my parents were upper middle class and covered a lot, so I had the opportunity to save. Most people don’t have that and remain paycheck to paycheck generationally.
I stopped having a savings account and only use checking accounts now because you only get to pull from your savings account six times throughout the month.
When I was around 20 I was tired of money being automatically transferred from my checking account into my savings when I was broke so I just went and closed it altogether. Still never reopened one 😂
It really depends on your goals and situation. Ideally, you would start saving $1,000 in case of emergencies so you don’t have to rely on anyone to help. Then you try your save enough money to last for 3-6 months if you get fired. However, that is a goal, not a should. I think a good rule of thumb is try to save 5-10% paycheck each time you get paid (if you are able to budget for that). Make sure your budget is manageable and not something you internally shame yourself if you don’t meet a monthly or weekly goal.
@@nicolematthews4309 It was just a general rule of thumb. That’s awesome that you lived off your savings for 8 months and saved that money to begin with. I think the 3-6 months rule is about having enough money to live on until you get a new job.
34 and my savings account has just become the place I set aside the weekly chunks for rent that eventually gets put back into checking just to pay rent.
Im in my 30's with a decent amount in my savings to last me about 12-15 months of mortgage and bills. But it also took a lot of discipline to put that money away in my 20's.
I started working at 8 years old (under the table) and had a real job at 14 (McD's). Started apprenticeship at 18. By the time I was 23, I had around $60k in saving, $70k in checking and a good bit in a Roth IRA.
Early 20’s I had like $100 saved, doing way better now in my mid 30’s, got six figures saved up in retirement and HYSA. I only make 70k a year and I save 50% of my checks
You spend the first 30 years of your life learning how to make money. You spend the next 30 years making money. A phrase that helped me when I was a kid.
I am 31 now and can honestly say, I do not miss my 20's. Sure I had a faster metabolism but that was the best thing going for me if I wasn't already starving because of the struggle to pay the base bills, gas, credit cards, some MAJOR medical bills due to the stress, and a few big loans I payed back.
Actually, I looked it up. As of 2022, a 23-year-old should have approximately $17,000 in passbook savings....and an additional $2,500 in statement account savings....while maintaining a minimum checkbook balance of $1,200 between paychecks. These numbers should double every 36 months. All remaining income should be considered "disposable" untill the age of 35 when 1/2 disposable income then begins getting diverted toward retirement accounts/investments. And these numbers are on the LOW END where marriage and family planning should not occur unless significant found or windfall monies have been inherited or otherwise acquired. HIGH END allows for five (5) times these numbers but also reports an average of $145,000 student debt.
Im 24 debt free have a trailer(mobile home) in my name, a car that’s payed off and I have over $6,000 in my savings and I have 2500 in my personal I think I’m doing pretty good but I’m just struggling with depression cause I lost my gf to cancer when I was 17 and I’m still single but other then that I think I’m doing okay for myself oh and I have a cat named Oliver :D
My checking automatically rounds up to put spare change in my savings, so I think I have like...$3 in savings? Once that reaches $5 I'll move that back to checking so I can buy a snack and drink at work while I wait for my next paycheck to clear
i had a brief period of time where i was able to actually save and i had 6k in savings until i had to get surgery and it flew from my account. But i gotta tell you, having around 5k in my savings removed a huge amount of financial stress for me that i didnt realise i really had. So i really recommend trying to make sure you have about 3 months worth of income sitting in your savings as an emergency fund. it removes a lot of panic from your life or feeling constantly on edge all the time like the floor might disappear at any moment.
I'm 23 and my budget lets me save a nice chunk every month into IRA, savings, etc. I know others who do this too. It's not impossible to save, even in this kind of economy
“One checking account that’s desperately trying to save itself” 😂 Facts!!
Yes! Exactly 😂
the amount of comments reflecting this sentiment is infuriating.
TWO generations.... TWO! fucked over by clowns mumbling something about the "interest rates being too high" and "inflation" affecting proper wages.
interest rates have finally breached 5% after years of being under 2%, company profits are breaking record after record, and the c-suit is failing up from one burning trashcan to another while somehow earning more.
they must think ys and zs wont walk out again. or unionize.
bet.
😂😂😂😂😂
Totally!
yup. better not go below that minimum
If you can somehow have food, shelter, utilities, and insurance, you are somehow making it.
Damn I’m still playing half on the first three 😅. Insurance is the only thing besides gas and some food that I can afford some what on my own.
Does a van count as a home? I suppose fuel would be my utilities 😂
@@aussieskitz yes I’d assume so and good shit how long you been doing that? It’s a goal/dream to do van life or rv living for a year or so depending on how well I do.
@@OneEyedreaper Yeah it's awesome bro, you don't have to spend much either. Such a good alternative, it'd be gaining in popularity due to the cost of living too I rekon. Paid 6k for my van. Been on and off on it for 3 years
Absolutely
my wallet is made of onion leather, you open it up and the tears start rolling...
😂😂😂😂
Too poor to buy that joke from you so I just steal it
This is what we call comedy gold 😂
😂
Lmaooo
I said out loud "I have a checking account on life support" right before he said we have a checking account desperately trying to save itself and it fucking sent me.
I felt shame about being in my 20s and not having a lot of money in my savings , but this post help me understand life just kicking everyone ass not just me
It’s kicking about 50% of peoples butts. The issue is the stratification of classes. The ~50% of capital owning people are getting richer and richer while the ~50% of non capital owning people are getting poorer and poorer. And that’s the point as well. By keeping the top 50% of Americans believing things are getting better and telling them the bottom 50% are just lazy is the 1%’s plan to consolidate power and kill off a bunch of poor people.
I know right I thought it was only me not have a cent after bills but it’s all of us.
Really what are they doing to the economy well lets fight for as long as we can right?
capitalism 👍
at least in more civilised countries you have some stuff like college for free
I'm 33 with no savings 😂
@wydua2049 it's not free, you pay for it in taxes lmfao. Capitalism isn't the problem and Communism ain't the answer. We aren't a Capitalist society anymore, we've been an Oligarchy for a while now with aspects of VULTURE Capitalism.
I'm 36 and I'm still suffering through that. Inflation has made trying to save rather laughable.
I am 38. I cam save money. But for now, have to spend money to save money. Once I am in the right position. In yhe next 4 months. No holding back. I have the path. I will have a house in a years time.
I'm 42, and I can tell you that this trend will most likely continue.
32 here and still living like a college student with broke parents.
30. I have a dying car living check to check (thankfully weekly), $1300 rent, utility bills, can barely afford food and health insurance? Pff...
I'm the same age...literally just making it paycheck to paycheck....WHILE trying yo buy a house in this economy and in this market. 😭😭😭
When I was 23 and didn't have living expenses or medical bills, I was able to save up to $5000. Now I'm approaching 30 and I can barely set aside $500 for an emergency. Life is expensive
I feel ya man. I had something like 2.5k saved from working 2 jobs starting when I was 15yo but all of that went to medical expenses before age 22 and my illness disabled me. I'm not even allowed to have assets exceeding 2k let alone saving that amount again.
THIS !!!
@@IW3527the asset limits for Medicaid are the worst! As a case manager I had a client go into rehab after hurting his ankle during a seizure, and lost Medicaid during his rehab stay because his expenses were different and he accrued too many assets. So when he got home he had to buy a bunch of stuff to use the money up to get Medicaid reinstated, and use retro-pay to have Medicaid cover his rehab stay. It was so stressful on the family!
@@IW3527Yeah that 2K rule is stupid. Luckily my truck is 24 years old...
@@EikottXD what's wild is it even hits things like pell grants, if I apply for the pell grant or any federal financial aid without being accepted into an extremely specific state program my disability benefit can be cut and I can be charged with fraud. There are so many cracks to fall through it's terrifying.
Now don't take this as me being happy that other people are suffering but it does set my mind at ease to know that I am not alone in my struggles.
We're all in the same sinking boat together, friend.
My mom always told me that you need to be prepared for emergencies, I have almost always had enough to pay at least two months of bills in case I get hurt at work or I lose my job for shit comes up that you need extra money for. The world doesn’t care if you broke it still gonna want the money.
yeah this is my reasoning, I'm 26 but I always have money in my savings account to cover any emergency. The trick is not considering your savings as money to spend, and just living off of your income. If you do spend savings money, go full poverty mode for as long as it takes to get that money back.
If you’re not in the negatives, you’re doing great
After all my bill every month I usually have about .75 cents left
Right! Like just trying to avoid overdraft fees over here!🙃
I'm in the negatives at least once a month lol
@@xanderunderwoods3363 ditto
Thanks
I met this young man yesterday at the bank... He waited for an hour to ask questions about opening up a savings account. He told me that's his new year resolution, to be more financially knowledgeable and stable. I told him that's a great move and I told him that since we are no longer a country that give workers pensions for retirement, he needs to learn as much as he can. I told him I'm sorry he had to wait so long at the bank and wished him the bestof luck.
I have always said we need to bring back basic financial classes to high school students. This man shouldn't have to waste an hour of his life just to learn about savings account at the bank.
He could also just use google…or call a bank.
Real.
Real.
The problem isn't high schools. The problem is all these corporations (like banking institutions) who aim to keep us living from paycheck to paycheck.
Financial literacy nowadays is just corporations teaching us how to embrace the "gig economy" lol.
That sucks that they don’t give pensions, someone should change that
“Does that make sense” yes bro we live it every single day 😂😂😭😭
Every single day! 365 likes! I love it 😂💯🙌🏾
Wow this wise guy sum it all up there is only one checking account trying to save it self.
Fuck… i swear it was just me
“One checking account trying to save itself” 😂😂😂, god, too close to home
I laughed. Out loud
AHHAHHAAAAAAAHAAAAAAA
Me looking at my -80 dollars in my checking after Progressive took my insurance payment out today
"Guess I'll just eat rice and air for the next week."
You can afford RICE?!?! JEALOUS 😢
Rice is cheaper than noodles 😅
$30 for 25 lbs of rice at an Asian market and if you add double the water you can make congee which is how Chinese people used to stretch their rice out during famine and war before China was one whole nation. With just some ginger and light soy sauce that bag of rice can last over 2 months for a single person. That's what we used to do as kids when my parents immigrated to the US illegally but back then 25 lbs of rice was around $18.
When I was working in my early 20s I lived at home & bought my own groceries, paid my own bills etc.. I was thankful to save up $ & I had over 30g saved up. Now I'm almost 30 & there is no savings. Prices gone high & bills keep coming. Hats off to this new generation. Hard to survive out here!!!
The worst is when you finally have like a few hundo in the savings account after weeks of setting money aside and SOMETHING goes wrong and you have to use all the saved money to fix it, and now you're back to square one
Bro, every time.
Do not talk about money in your car, that sucker hears it and something expensive will happen
fucking hate my car at this point@@janetz1001
My fridge kicked the bucket recently after I'd had some money saved up: And I was so excited to do abit of late Christmas Shopping too 🪦💀
Bro, right? I had 5k in CC debt I was nearly done paying off. I worked super hard to do it.
Cat got sick.
Vet bill, 6k.
Fuck my life.
I’m 30 now and this is still ongoing. I get comfort knowing that I’ve at least invested in my health since my early 20’s so i can keep going to work everyday. Nothing in my body hurts, just my soul 😂
Ugh I felt this big time 😭
How exactly did you invest in your health?
@@ashuranero5721by slowly cutting out unhealthy foods and harmful products from my life and going as natural as possible. Even tho certain hygiene products and dietary supplements may be more expensive, it is worth the investment
My soul? Oh I had to sell that.
I'm screaming
I am 63. My small savings account died during the lockdowns and has not been resurrected due to the rampant inflation the last few years. All the "adulting" survival stuff I learned in Home Economics Class
has gone out the window. I feel so sorry for young adults like Jordan not having the same America I grew up in.
Jordan is a literal millionaire lmfao
@vanity9100 he is 26, so technically gen-z.
@@morbidzombiihow?
This. Im 33. My children were born before I knew the direction the world was going. A few years ago my family of 7 was able to afford a large vacation on a single income.. now on dual income we are paycheck to paycheck and often having to get food on credit. It's no longer an age thing... its a 'this economy is bullshit' thing.
@@angellicaderangedTHAT PART. People, especially some modern women, need to understand that the days of middle class one income households are OVER. Most everything we were raised to prepare for as children do not exist in this current environment. We are up a creek without a paddle and half of an overpriced canoe.
Dude, I didn’t realize how much I needed this until now, I felt like a total failure especially this year because of the state of my bank account
Thank you for saying this! People should be proud of themselves for surviving and even better if they’re doing it legally and ethically.
“…just one checking account desperately trying to save itself…” 😂😭 I felt this in my soul!
As a mexican, I honestly thought "savings account" was some type of foreign joke like sarcastically saying "ah yes the savings account next to my yacht that Donald Trump likes to borrow"
"Does that make sense ?"
No, but it's the reality.
If a extraterrestrial were to appear here and learn English to learn what’s going on with life here, it would likely be trammatrised
@@AFNAFworldfan
*traumatised
Yeah I can see that happening...
@@TheCursedCat1927 sorry
Dreams are making more sense than the reality at this point
May God bless you, Jordan, you're out here speaking truth!
Sounds like my life situation at 43. 😢😂😂😂😂
Same! Just living is hard these days.
I'm way past 20 and have $5 in my savings account... my bank requires a $5 balance to keep it open😂😂
and they keep asking us if we want to apply for credit cards lol
Same. That $5 in mine has been there since I opened it.
I'm in my 30's. I don't think mine has a minimum limit, but I keep a dollar in there just in case.
ye never EVER apply for a credit card its like another slap in the face after student debt@@hypervigilance1465
I can relate.
I'm 70 and have no savings. Or retirement. I spent it all just trying to live every day. It's hard to say for a future when you've got to spend every penny you've got on today.
What did you do during all that time?
@@matickon probably working and not pretending to be better than internet strangers
@@matickon we lived. On the money. That we got. Working.
Do you think inflation is a new concept that only those under 24 cam experience? I am SIXTY and in the same boat. TWICE I have managed to 401k up to 10k and had to withdraw it both times, down to zero. Lady above and me (and my sister) are all as screwed as you are. We are the drugs of society that did not meet good marriages and couldn't get any purchase in the working world. We were always nice and accepted a lot less than we are worth, for some of the most amazing service work known to mankind, that of taking care of the elderly who are helpless and alone. Alone. That's why I'm broke. At least I can say for myself
You were alive when things were still reasonable. It is not the same. When coming out of high school/ university directly into the Great Depression of our time completely decimated millennials chances to the extreme. But many of us still hustled and scrapped together a decent life. Many did not. A lot of my friends are dead from suicide and ODs. We were the generation that was given OxyContin for relatively minor injuries as teenagers and told it was safe and not addictive…
I’m truly sorry you are going through that and don’t have any money or retirement, but what were you doing when things were much easier and people could still have a whole ass family, a house, and a car on a single income?
I’m genuinely curious. You were alive during the 50s/60s which many could argue was the most prosperous era in US (and most western countries) history.
@@matickondunno why people are attacking you for asking. It’s a valid question.
I’m 46 and my “savings” account contacted FEMA and declared itself a disaster zone.
i was waiting for a forty year old comment because yea...... lol
40 and same
It's now Hurricane Katrina 😭
Ouch
FACTS!
thanks for making me feel a little better about my situation
I agree. I was in the military living on base with no bills and STILL had nothing in my savings account, and my checking account was near zero every month.
"A checking account trying to save itself" too true, got me rolling😂😂😂😂
I'm in my 40s and it's the freaking same!!! Unless you manage to get a good job, forget saving ANYTHING. If your car breaks down, you part it out and buy another $100 wonder...
I have a "good job" for my area. Still doesn't help 😭 my vehicle has been in the shop since October because I can't pay for the repair they did on it. Because while it was getting repaired I suddenly had a huge electric bill that needed paid. And it has to get paid because for some stupid reason you can get evicted from your apartment if the electric gets shut off.
Still have yet to get a car lol I'm still in college get my associates nxt yr, not yet willing to add another expense to my life
@@AugustusAsgeir yep if you don't need a car right now that's the best thing to do!
At age 23 I had a Savings account of $10,000 plus. True I had really awesome parents growing up who taught me the value of setting money aside. I realize that this is not the norm for everybody… But I am grateful that it was the norm for me. It has allowed me to continue to live my life… And deal with the numerous medical issues that have cropped up.
It's not about learning there is value in setting money aside. Most people know that. It's having the privilege to be able to set money aside...
I'm 31 now and have saved well, but from 18-26ish I wasn't able to keep more than 500$ despite how hard I tried to live on cheap food and the bare necessities. My parents weren't able to help with gas or phone bills or lunch once in a while unlike some of my friends who got plenty of support from their parents at the time...
It was embarrassing to be so frugal and hold people accountable when they owed me $5 but I had to...
So happy to have grown past that now and capable of helping my little bro and saving up for myself, but when I see others struggling it breaks my heart because I know how hard it was.
The worse is medical bills. I have health insurance and still pay out of pocket.
I am 29 and my parents didn't teach me anything about financing money except my dad would always say "Save you money" which doesn't help in today's time.
"At 23 my savings account had COBWEBS in it" as a person who cries in poor, I relate 😭
So true. I am 42 now and finally can THINK about savings!
My savings account has secret ties with my automobile and they think I don't know about it.
Honestly this is soooo encouraging. I have been working so hard and have been thinking that I have been getting no where, that I am not saving enough or fast enough to reach the goals that I want to reach, but hearing this I know that I am ok. Thank you
23, I had 2 kids, and a grown man. I had nothing and was not happy. 9 years later I have $50 in ny savings while I support 4 kids alone.
Why did you decide to have kids at such a young age. Let alone fckin 4
I see why some opt out of living. I truly do!
Facts, this is why you content is goated bro.
I’ve been a banker since I was 20 and I’m 30 now. most banks have a save the change type feature that will move a dollar every time you swipe your debit card USE IT!
That dollar isn’t noticeable but when it’s at 50 after a month it is. Save while you spend and don’t touch it ive had clients who spend and say they can’t save end up with a few hundred by year end. It’s all about starting savings young.
What worked for me is that I'd start at 0 then save to 1000 and then I'd reset that in my mind and consider that "0" and start again. Over and over.
One of those banks was Wells Fargo but I stopped using them
I'm 30 turning 31 this year and every single penny I've saved went to paying for my livelihood and its absolutely not because of irresponsibility, it was absolutely because of necessity. That's the problem.
I had a savings since I was a preteen and had 3 IRAs, all gone.
Preach
Touched my soul.
FACTS BRO I literally got $0.08 in my savings account and I'm about to turn 24. I've tried putting money into my savings each paycheck, but I'm just barely making ends meet. I'm not even paying for a car and I'm still barely making it out alive
RIGHT, I can't even afford rent and food by myself so I don't know how the heck people are buying cars!
I'm almost 24 and my twin and I have $11k together
I'm 18 and have been saving thousands for awhile now. I put everything I can in there!
I worked at a call center full of broke kids. I would jokingly yell "hey does anyone have change for a 20? No one did. No one had a 20.
Can confirm: currently 33 with 10k in checking and 25 cents saved in my car’s cup holder. It’s not that I don’t want to put it in my savings. It’s just that every time I put money in savings some catastrophic event happens and forces me to withdraw it.
Every time
EVERY DAMN ASS TIME!
43 here and same 😂 laugh crying because just crying sucks.
@@lildaisysmom4584 laugh or cry, the universe is indifferent 😐
Sorry. As a millennial, discussing my financial future makes me nihilistic in the extreme.
You have 10k in your checking account????
Velma is starting to question her job choice after breaking her glasses again.
Since I, 22, still live at home due to 8% apr on housing, I have done everything possible to shove my money into savings and spend as little as possible. Im very grateful for the job I have in cybersecurity that has enabled me to save.
hi, how did you get into cybersecurity? i was thinking it might help me break out of having to rely on social assistance but id be starting from scratch
@@anqeal Look into Comptia certifications and look into downloading course material for the CEH Certified Ethical Hacker Cert. You obviously need to be tech savvy to succeed but the hardest part is finding a job in it.
I Love how you make me laugh out loud.
My daughter has worked since she was 16. She went to college on the east coast full time and worked full time. When she graduated she came back to California and worked full time.
She just turned 24 and has 42k in a savings account and 38k in her 401 k
Her work ethics are from me 🤷🏼♂️. I have worked 70 to 80 hours a week for the past 35 years. I’m 66 and still working 40 to 50 hours a week. I love it.
👍
I love the attitude of "just earn more and spend less" lol. I am way better off than most people but I know I got ultra lucky. I was broke from 18 - 30, I had more money as a teen because of jobs and stuff, but as soon as I moved out of home it was instant poverty and that was in 2005. It's worse now.
At this point, I'm just trying to enjoy life living paycheck to paycheck. Even death doesn't scare me anymore. Cause it can't get much worse than this. Lol
Same. We're all going to die anyway. Might as well just enjoy whatever we can afford while still pay off the bills and rent.
Hell, at this point, death is the least of my worries. Getting in an accident only to end up in a hospital with a bill at the end is scarier than death.
@@jaymikevillanueva1212
EXACTLY my philosophy and fear!!!
Death gotta be Easy cause life is hard it will leave you Psychically Mentally Scarred - 50 Cent
I’m 29 and I gave up on my savings account. I just leave money in checkings and watch it vanish by the end of the month.
Are we the same person? Lol
I put 150 in my savings monthly, and then removed all info from my sight 😂 if I don't see, or acknowledge, it, then it'll grow.
@@kumikor3392 woot woot! Keep it up!!
Hopes and dreams. That's the answer young lady.
Jesus christ this is too relatable at this point
Sometimes when I was 23, I might even have $50 in my savings account... Until the next check overdrew my account.
I'm in my mid-50's. I didn't have a savings account until about 10 or so years ago, and that was because I had enough money to want to keep it out of sight and not "Oh, I have money, I can...!"
Also, I highly recommend having 2 checking accounts. One for bills, one for food and gas spending, and be diligent about never overdrawing one of them, preferably the one your paycheck goes into. Because if the bills gets overdrawn enough, you will have no money when your next paycheck direct deposits. (I lived it in the early 90's. Sucked massively.)
This man just popped up and became a part of my life now 😂
I laughed and cried on a insanely relatable level 😭😭😭
This video made me appreciate my situation 10 x more bc im privileged enough to have minnimal bills and not much to take care of besides a cat and a car after household items mostly for the cat, anyway i am still broke with my mattress on the floor but its appreciated brokenness
I’m 61 and I don’t think I had money in a savings account until my parents died and left me some money when I was in my mid 40’s.
Correct Jordan. Spot On! Not much has changed for many people since 1975.
At 23, my couch was my savings account
in my checking account i keep essentials like bills and apartment maintaining and my savings essentially serves as a rent storage bc I am terrified that if it's in my checking I'll have a false confidence
Facts and everyone got different problems and walks of life and deal with way different economic conditions year after year. It’s hard to have averages
I was like, dang she has a saving? She doing better than most of us 😂
That checking account with $3.27 in it holding on for dear life like Spiderman trying to stop a train
😶 I still live with my mother, so although I might have to eventually pay her a little bit of rent, I'm financially stable (although I'm mentally unstable, otherwise I'd move out).
Im 23 in university and Im very blessed to have my family still able to support me, my school costs are covered by scholarships and federal student loans which pay more than needed for my tuition which leaves me some money as refund to use for books and other school supplies, the rest is in a savings account which is just above 1000, my degree is in mechanical engineering and gpa is not high at all, 2.6, but I am worried about how hard it will be to find a job in my field when I get out cause Im struggling to find just an internship right now.
Don’t worry about saving… if you want to poor. I’m 27 with a home, a 6 months emergency fund, RSPS, a TFSA account, and a car that’s paid off in full. If you feel at ease because other people don’t have money either, you need a better strategy. If you save for your future you can have a better life. When I got cancer this year I would have been out on my ass if I didn’t set myself up. Life will throw awful things at you. My best advice is to get ready now by setting up auto-contributions. Even a couple hundred dollars a month will make a huge difference in the long run
This gives me life. I have seen financial/life advice shorts where the person was like "I put away $25,000 into savings this year" and I cry bc that's half my annual salary and I'm 30.
Jordan, any amount saved is better than nothing.
Lol, next you'll say 0.5 interest is really going to make things move for us. We're one incident from the red.
Not if you have debt that exceeds the interest of that savings, which I guarantee it does
Student debt is a great example of that.
I’m in my mid-30’s, have had a savings account since I was 7, and that allowed me to buy a house when my wife and I got married. The problem is generational wealth, I’m not rich, but my parents were upper middle class and covered a lot, so I had the opportunity to save. Most people don’t have that and remain paycheck to paycheck generationally.
this dude should be an actor
The “come here” always has me hollering
I stopped having a savings account and only use checking accounts now because you only get to pull from your savings account six times throughout the month.
I swore my car knew how much I had saved just so it knew when to breakdown.
What brand is ur dino nuggies
Finance is important, im 15, got a job at 14 and have 6,400 in my savings, i am so thankful that i got a head start at saving for a car
The way that I said aloud "there's no savings account" at the same time as he did made me cackle like a hyena lmaoooo
I started putting money in my savings account when I was 27, not that I made more money. I just stopped eating food on Wednesday 😂
When I was in my 20s I always kept 1 month worth of bills in my savings account for when I got fed up and quit my job.
When I was around 20 I was tired of money being automatically transferred from my checking account into my savings when I was broke so I just went and closed it altogether. Still never reopened one 😂
Ah that makes me relieved, I thought I was the only one struggling because the internet can be so fake
That is desperately trying to save itself😂😂😂
It really depends on your goals and situation. Ideally, you would start saving $1,000 in case of emergencies so you don’t have to rely on anyone to help. Then you try your save enough money to last for 3-6 months if you get fired. However, that is a goal, not a should. I think a good rule of thumb is try to save 5-10% paycheck each time you get paid (if you are able to budget for that). Make sure your budget is manageable and not something you internally shame yourself if you don’t meet a monthly or weekly goal.
Idk, I lived off of my savings for 8 months. I get what you're saying but... where do you live?
@@nicolematthews4309 It was just a general rule of thumb. That’s awesome that you lived off your savings for 8 months and saved that money to begin with. I think the 3-6 months rule is about having enough money to live on until you get a new job.
34 and my savings account has just become the place I set aside the weekly chunks for rent that eventually gets put back into checking just to pay rent.
Im in my 30's with a decent amount in my savings to last me about 12-15 months of mortgage and bills. But it also took a lot of discipline to put that money away in my 20's.
Ahh there you are Jordan, hadn’t seen you on my feed in a while. Nice to see you pal
My kids all had savings! Very proud of them! They can buy real estate, travel, live their best lives.
I started working at 8 years old (under the table) and had a real job at 14 (McD's). Started apprenticeship at 18. By the time I was 23, I had around $60k in saving, $70k in checking and a good bit in a Roth IRA.
Smart!!
I wish I could have started younger then I did
Early 20’s I had like $100 saved, doing way better now in my mid 30’s, got six figures saved up in retirement and HYSA. I only make 70k a year and I save 50% of my checks
Only $70k a year. Yeah, you're doing great.
Will you teach us your ways!?
I'm in my late 30's and my savings account still only has cobwebs in it.
You spend the first 30 years of your life learning how to make money. You spend the next 30 years making money. A phrase that helped me when I was a kid.
I am 31 now and can honestly say, I do not miss my 20's. Sure I had a faster metabolism but that was the best thing going for me if I wasn't already starving because of the struggle to pay the base bills, gas, credit cards, some MAJOR medical bills due to the stress, and a few big loans I payed back.
Actually, I looked it up. As of 2022, a 23-year-old should have approximately $17,000 in passbook savings....and an additional $2,500 in statement account savings....while maintaining a minimum checkbook balance of $1,200 between paychecks.
These numbers should double every 36 months. All remaining income should be considered "disposable" untill the age of 35 when 1/2 disposable income then begins getting diverted toward retirement accounts/investments.
And these numbers are on the LOW END where marriage and family planning should not occur unless significant found or windfall monies have been inherited or otherwise acquired.
HIGH END allows for five (5) times these numbers but also reports an average of $145,000 student debt.
Im 24 debt free have a trailer(mobile home) in my name, a car that’s payed off and I have over $6,000 in my savings and I have 2500 in my personal I think I’m doing pretty good but I’m just struggling with depression cause I lost my gf to cancer when I was 17 and I’m still single but other then that I think I’m doing okay for myself oh and I have a cat named Oliver :D
My checking automatically rounds up to put spare change in my savings, so I think I have like...$3 in savings? Once that reaches $5 I'll move that back to checking so I can buy a snack and drink at work while I wait for my next paycheck to clear
Maybe buy a reusable water bottle and make popcorn from kernel at home. Save that $5 by getting over yourself
@@audreydoyle5268 gonna give me the money for the reusable water bottle, numbskull?
@@HyperfixatationInc dude, it's $10-$20. I'm sure you can hold out on 4 snacks. I don't owe you pennies
@@HyperfixatationInc I literally bought my metal bottle at Kmart for $9. Who's really the numbskull here?
i had a brief period of time where i was able to actually save and i had 6k in savings until i had to get surgery and it flew from my account. But i gotta tell you, having around 5k in my savings removed a huge amount of financial stress for me that i didnt realise i really had. So i really recommend trying to make sure you have about 3 months worth of income sitting in your savings as an emergency fund. it removes a lot of panic from your life or feeling constantly on edge all the time like the floor might disappear at any moment.
I'm 23 and my budget lets me save a nice chunk every month into IRA, savings, etc. I know others who do this too. It's not impossible to save, even in this kind of economy