Yeah of course. we should all be broke can't wait for my children to drive skateboards every and eat sewer rat because that's all they overloads allow us. This is stupid to augments. Our government is mistreating us
I love how he was being conservative with all those numbers and it still came out as barely surviving. They ask us why we still live with our parents in our 30’s
Because you're wasteful and unable to solve your own problems. Possibly lazy. You don't think so, but your parents probably worked 60-70 hours per week at your age but you just wont.
There is nothing wrong with sharing a place with parent(s), but there is a difference between living with your parent (sharing a place) and LIVING with your parent (like they are still a kid), the latter is what is looked down upon. I work with people from both groups.
The real issue is the Corporate Welfare your taxes are paying to enable the 1% of the 1% to have enormous tax breaks, some pay no tax, while they use their media and their politicians to convince you that you’re not working hard enough and that anything remotely beneficial to ordinary citizens is socialism.
Gen x here. Between myself and fiancé we living paycheck to paycheck. I have two of my adult children still at home because there is no way they can afford it on their own. I fully stand with the younger generation on changes that need to happen so they can actually have an affordable life.
I suggest that if they are living at home to sit down and list the House hold bills. The house hold!! if they are on the car insurance then add that. Also calculate the food in a separate group. then take the hh bills and divide by the number of people and that is the hh rent each should pay every month.then do the food. so everyone will have a hh rent and their own personal bills. If you are not able to have money after splitting the hh bills with everyone then there is something wrong with your finances. You may need to move to a lower income area or something. No one should be complacent though. with the increase in money after payday need to pay off any debt!! also need to save for major expenses, retirement, cash car or for their deposits for a place or a house for them selves or for when they marry and move out. My family did that for many years before i finally bought my house.We were able to live in better areas that what we could have lived in on our own.
Honestly, we probably need to start doing what the Asian cultures have done for the longest time. Generations living together and caring for one another (where possible. Don't stay in an abusive situation.) We are already being shoved into it by the prices, but it is actually a financially good idea if there is communication and space. This actually would solve a few different problems (generally). The elderly can babysit the younger children, and in return parents and teens can care for the elders. Elderly get social security (for now), which can help improve the financial situation overall if combined with both parents working. It may also free up a little of that money for them to even enjoy themselves! Children can grow up in a slightly more stable financial environment. It is not perfect, and I know places like Japan are starting to push the independence mindset, but there is a reason why it worked for generations.
@@Thesakuraharona That is what my family has done from the beginning. We had 3 generations at one point till my grandmother died. When I was just starting out and going to school i paid a small rent because my income was low but I did pay something. When I was working full time my grandmother, mom and my self gathered the house hold bills together and split them evenly then did the same with the food. When my grandmother died mom and I did the same. when she started having medical issues and couldn't work I covered everything. When she got SSI and my brother started working we split the bills again. If there is a drop in income on one side the others covered the rest till things got fixed. Because its shared its not as much and much less than living on their own. We are also very comfortable with each other.
yeah, but working fast food or at the mall full time made you about 10-12k /yr in the 90's... most places of that tier of work now are offering more than 15/hr starting out today, putting you close to that 40k year this guy is using with no experience and no skills. so effectively the lowest wage jobs in america have nearly tripled in pay, while your middle income jobs have not even doubled since the 90's. this isn't a low income problem, you were NEVER able to get by comfortably with a low income job. that hasn't changed. but middle america with degrees and/or skills/experience have been kicked in the face and beaten down into the low income bracket while carrying the lion's share of the tax liability and the mouse's share of benefit from taxation.
I have some disagreements about the budget he suggested: >rent should be much, MUCH higher than $2000 a month, or $1200 with a roommate. That’s being way too conservative, even for rural areas. Unless you’re living in “the projects” where you’re required to make below a certain amount to qualify, you ain’t finding a place for under $2000 per month, even if it’s a roach trap. >food budget should be lower. There’s no way you’re spending $200+ on food JUST for you per month. Most college students know how to get by with less, buy foods in bulk that will last a long time and be filling (even if not nutritious) and can generally squeeze by on about $75-$125 per month. (Assuming inflation at the store, we can round that off to about $150 max.) >”personal care” probably no. Those are wants, not needs. You don’t need a gym to work out, and you don’t need a barber to keep your hair trimmed; just a razor, a mirror, and and a pair of scissors. All of those can be kept in your car, 🚙 should you be lucky enough to own one, or your backpack. 🎒 >tuition should be much higher. Also, unless you had scholarship or your parents forced you to go to college to continue to have a place to live, going to college is an economically irresponsible choice. This isn’t the 1990s/early 2000s anymore- it’s common knowledge that most degrees are a waste of money compared to the trades/certs. >gas should probably be a bit lower. If you’re driving a rice burner, even with a longer commute you should only be buying about 1 tank of gas biweekly- or, about $110 worth of gas rounding up for inflation. It did come back down recently thanks to the election, so it shouldn’t cost you $150 to make it through a month. If you’re driving anything that uses more gas (such as a pickup truck that you’re NOT utilizing for hauling loads) then you’re wasting money. Aside from that, yup, you guys are pretty much on the level for boomers being disconnected.
@@QwestyDaQwest I was "middle income" in the 90's, making $20k/year, and still struggling to make ends meet. I had to work two other part time jobs to have enough to save. I had roommates, I owned a used car, I rarely ate out and NEVER bought Starbucks, nor did I have cable. What makes you think middle income earners were so much better off 30 years ago than they are today? These assumptions are wild. Those of us who tell you you're overspending if you can't live on $20/hour stand by our opinions because we can live on less than $15/hour in *TODAY's* economy. (My expenses today are less than $25k/year, and that's even while living alone.) You struggle because you think you're entitled to the same lifestyle as someone who's been working, scrimping, and saving for 30 years without actually working, scrimping, or saving at all. No one feels sorry for you.
Old people do NOT forget inflation happened. Every time we look at how little the money we saved is worth now, every time we buy basic things at the grocer, every time we have to buy medicine or pay a bill, we know inflation has happened, because everything we worked for is worth little to nothing. Retirement is not possible for many old people, but we get told to get out of the way and let the young people take our jobs. Our country is mismanaged.
Yes everyone! Go to work. Go home. No reason to have hobbies or enjoy the beautiful life around us. Just work and pay your bills. There is nothing more to this life.
@@jsan6967can you invite me into the world where head down working during your 20s earns you vacations in your 30s? At my current trajectory my partner and I wont be solid until pur 40s. No vacations, no excessive spending, only the bare necessoties in a low cost of living area and the only major costs being necessary health related procedures. We did job hopping, hve done budgeting, have done all of those stupid gotcha suggestions. At some point the answer is just the economy is awful dogshit.
Yeah about those 25 dollars an hour, fun fact the $15 an hour minimum wage conversation has gone on for so long that the cost of living to be out of effective poverty is between $20-$24 and hour.
THANK YOU! As a Boomer I’ve been telling my friends this when they complain their children can’t leave home! Many of us don’t know the price of what it takes for young people to just survive! As a recently retired educator I have discussed this extensively with my grandchildren and help them break down real expenses! The rental market is the number one disappointment for young people! I cannot believe the prices of rent here in Georgia! Their best bet is to try for a decent roommate and hope they’re compatible!
@@sayingso1983At this point it doesn't matter where they live cause almost everywhere is charging $1500-2000 for a one bedroom in any area without crime.
@@sayingso1983 Here in Georgia even the suburban areas are expensive if you want to live in a decent area, or it’s far out from most jobs and/or social life. Also, lots of suburbs don’t have a large amounts of apartments, so there’s that!
My mom has always been hypercritical and accuses me of "wasting money". I showed her the grocery bill for the family groceries I was buying. Then I showed her my latest paystub. She made an ugly face, hook her head, and walked away. That was back in 2017. I was making $14/hr. Now that she and my dad are back to buying the groceries, they come home with one or two bags of stuff, mostly small single serving things...and ALL THEY DO IS COMPLAIN ABOUT THE PRICES.
@@chavezgreen4568currently large corporations are admitting in court to raising prices extra just because. Actual studies, math, economists, ect. all say that raising wages won't have nearly as big an impact on prices as we're lead to believe. The problem is the rent seeking behavior that even the best Capitalist philosophers hated.
Sorry $500 is too much for groceries : a person earning such should spend $150 - $200 for groceries and maybe $50 - $150 to eat out monthly so that should be about $300 for feeding and groceries and savings of $200. People have to learn to eat at home more. Also people don't need to have car payments ; manage a cheap used car for a few years and then buy an affordable Toyota after 5 years or keep buying newer used cars.
@@adeyosola414 depends on wereyou live and where you can shop, groceries are crazy right now, barely a week worth of food can get to $100+ with things on sale and coupons, when the items aren't that expensive. It also depends on how much you make because the money on food? That's shopping at the store, generally so you can have a month of food.
We let in 15 million people. This is the problem. We don't have enough children to repopulate ourselves. If we had empty apartments and homes, the prices would go down. It's supply and demand. The Biden Administration did this to us.
@@adeyosola414 $150 to $200 for groceries? That's only about two weeks (or less) of food for a single person, if you don't buy anything fancy. For reference, I don't eat meat either and only fish, eggs, and vegetarian foods. If you can spend that much per month, you must not be in North America.
a minimum wage won't fix this mess, its a bandage over a massive bone jutting out of your leg type problem, we need to start implementing laws stopping corporations from owning homes, start deporting the TENS of millions of illegal immigrants we have and stop sending hundreds of BILLIONS to countries that openly announce they hate us.
No, it’s raising the minimum wage that rapidly increased cost of living. Use your damn brain dude. If person A works for ten years to attain certifications, experience, and value so that they can be paid say 25-30 dollars per hour. How do you think they’ll feel when person B, a McDonald’s worker, suddenly makes 15 at 18. They’ll feel like they’d better get a damn raise. So most or some do, while others don’t and start struggling. Their bosses don’t like how this costs them more money. So prices become raised on goods and services. So now all the sudden the cost of living is higher. Those who managed to secure a raise are feeling fine. Those who managed to secure a raised minimum wage were only happy for a moment and are now struggling again. Those who couldn’t secure a raise are fucked. Then morons come along asking for the minimum wage to be raised to the new cost of living. Do you know who benefits during all this? Rich corporations, executives, and politicians who not only become unaffected, but even become benefited by the people’s increased reliance on welfare and other such “social programs”. But yeah man, it’s because minimum wage took so long to increase. Dipshit.
Just goes to show the issue isn't the minimum wage at all, it's the devaluation of currency. Plenty to argue about who's responsible in the end (companies vs governments vs US federal reserve, personally I lean towards US federal reserve as primary cause, possibly even with it being an international issue, given how dominant the US and its economy are in the world) but it's still destroying everybody regardless, and just raising wages is likely to just result in Zimbabwe/Weimar Republic levels of worthless money (cheaper to burn money than buy firewood)
The wage is just a small part of the issue with cost. There is also things like fuel and other commodities that are extremely high or policies that incur additional costs to businesses. A business needs to be profitable so if costs go up to run the business so does the cost of the items sold. What is funny is that trump was lowering the costs of everything and prices were down and the companies then turned around and gave raises to the employees. So people were making more money, the costs of items dropped and people seamed to hate him for it. They then voted in bidden and he did a ton of crap and the prices skyrocketed and people can't seem to put 2+2 together. FYI people you get what you get when you vote a business man in that knows how to run a business and you get what you get when you vote a politician in that doesn't know how to run a business and has the name sleepy joe and had handlers that tells him what to do and say. Whats funny is it wasn't even a surprise.
If you study economics you'll find that raising minimum wage contributes significantly to inflation. If you pay the ground workers more to stack food on the shelves, then you need to raise the prices of the food on those shelves. Most supermarkets profit 3.5 - 4%.
Our son, who has a decent job, just moved out at 39. He bought a home after years of frugality and saving. Why have kids if you're not going to be supportive and especially in this high cost of living economy.
When I was in college in my late 20s, my mom started hassling me about giving her grandchildren. I didn't want kids anyway but I asked her how I supposed to support them with no husband and without going on welfare. She didn't have an answer for that.
Too bad most parents are nothing like you and judge their millennial kids for not owning a house yet even though they inherited theirs from their parents.
We dont have kids to support them we have kids so we can feel better about ourselves by constantly pointing out their short comings. Also whats up with those participation trophies, why did those darn kids make that a thing? ahhhhh.....The circle of life
Well, in the case of my Boomer parents, because they wanted little slaves to work for them the same way their parents worked them when they were young. They believe it is the way things should be. We don't talk much.
That’s not fair. Most people you think are the fortunate few struggled in their early years as well. I don’t fault for people for being “poor”. I fault people - myself included - for making bad choices. Buying a $1200 cell phone when a $500 one will do. Living off high interest credit. I get hit with those offers all the time. Throw them straight in the trash. Credit that comes looking you is not good credit. Let’s note that there is a difference between being poor because your wages can’t keep up with expenses, and MAKING yourself poor because you want to live a lifestyle you can’t afford.
@Hiiiiiiiidbsh u realize theyre mot mutually exclusive right? Doesnt matter of u work hard or not u can be lucky if u work hard and are lucky youll atttribute all your luck to your hard work when a lot of it comes down to circumstances of your birth and the cinnections of your family
@@whenimmanicimgodly4228100% sorry if I came off harsh. A lot of success is luck, but a lot of it is hard work. Luck is great and all but most success is achieved through mostly hard work. It pisses me off how people hate on the rich just because they’re rich. They put the work in, started business, put all the risk in, many have committed suicide when their business fails. To not acknowledge that and then still feel entitled to their money is crazy. I’m not rich by any means, but instead of hating on them and trying to tax them to get my hands on their money, I’m trying to learn from them so I can become like them.
Yep, and now the same people want to start a civil w*r and another w*r down south that's going to likely decimate our food supply and it's people at minimum . I'm tired of these lies.
Just had to buy a new battery for our car and last month we had to replace a part on our HVAC. Now we are in the red. We have a very delicate budget and 2 big expenses back to back was something we could not afford.
The gap between your salary and cost of living in America is always changing! I made $7 an hour in the late 80s and felt like a rich person! I made $15 an hr in the 90s and bought a house! The system is just all greed now and the young people can't afford anything now a days!!!!
Its NEVER been about the amount per hour. its ALWAYS been about the value of that money. 25 cents an hour, barely over a century ago, was worth well over 20 dollars an hour now. Inflation IS NOT NATURAL. Inflation DOES NOT HAPPEN IN A FREE MARKET. we had free market money for over 100 years in this country (1800ish to 1900ish) and inflation WAS NET ZERO PERCENT. So when someone says inflation is inevitable they're straight up lying!
Rent, groceries, and just basic expenses, $20 an hour doesn’t stretch very far anymore. I’ve got friends who are working two jobs just to make ends meet, and they’re still struggling to save anything
Yeah, I’m in the same boat. What’s frustrating is that even if you manage to save a bit, inflation just eats it up. It’s like you can’t get ahead, no matter how careful you are with your money
I get that. I've been thinking a lot about this too, and it seems like we need a new way of managing what we do have. A lot of people in our generation just keep putting off investing because they feel like they don’t have enough to start
I used to think that way, but I recently started paycheck investing. It’s all about setting aside even a small portion of your paycheck each month into your portfolio. It doesn’t feel like much at first, but over time, it can really add up
He showed me that it’s not about how much you start with, but about building the habit. Even investing $50 or $100 per paycheck into a mix of stocks, bonds, or index funds can grow over time. It’s more about time in the market than timing the market
I remember being so confused in our middle school finance class I was convinced I was doing something wrong because I just could not fit rent, gas, groceries, insurance, etc under a reasonable salary
This is why I'm exposing my children to the idea of generational wealth and no rush to be living independently. Together we can achieve more than we could ever individually.
@@tracimetcalf3374 it also doesn't start from no where... and it sounds like you jumped to conclusions there. I didn't say they would be dependant on me, there is a difference. Kids can live with their parents and be independent while building wealth to pass on.
Then you have yo do an absolutely amazing job or they'll not want to be close to you. Generational wealth is great but only if the generations continue and stay close.
@@itsallperspective7415 hence the idea. When they are adults they can make their own choices but I will not be forcing them out. People judging adults for "living with" their parents are part of the problem with these adults struggling. Why do 18 year Olds have to feel the pressure to get out and be financially independent and throw away 1/3 to 1/2 of their income to a stranger rather than build it up for a better future?
I heard someone say... Is it any wonder why huge corporations are enjoying record breaking profits...?. Question is... What are we going to do about it...? Oh, that's right... We voted for huge corporations to run the country...!!!😊🤬
Big Corporate isn’t the issue. It’s government over spending and waste. If the government runs on a deficit, what does it have to do? It has to print more money in order to service that debt. Which of course lowers the purchasing power of the dollar, and affects low income earners the most. Do you know when gas was the lowest in the last 30 years? It was when our national deficit was paid off, and a surplus. Vote for politicians that believe in financial responsibility.
@joehenry9546 you should thank President Andrew Jackson if you're going to talk about paying off the national debt. Unfortunately that was in the 1800s 😅
@@SH1NK1R01if he’s older than 22 he’s definitely being coddled. No way is he working 40 hour a week and making 20$ a hour and still being broke when he’s not even paying rent. Unless he drives a really expensive car and his insurance then idk why he’s running out of $ if rent isn’t a problem hahahaha. He should have a couple bands saved easily if he doesn’t pay rent and works a full time 18-20$ job lololol and that’s coming from a dude that’s 25 and seen it all
@@FuriousGerbil5 this right here is the problem. You are so bad at math you cant even fathom how a person could be broke at 20$ an hour. You are even convinced you have seen it all at 25. You have very clearly seen nothing but convinced yourself of eveything. Whatever helps you feel good about yourself has nothing to do with reality. While you pretend people are being coddled the nation continues to suffocate. You wont accept reality until it comes for you. And everyone will point and laugh.
@FuriousGerbil5 If you're making comments like this you've absolutely not "seen it all" then because everyone's circumstances (and culture) are different.
Older generations do understand. They themselves have to go to food pantries just to survive. An 80-year-old that I know either walks or takes the bus and can only make partial payments for her electric & water bills. She has to work still just to survive.
I am an older generation - a much hated Boomer- and I certainly do understand and see how outrageously expensive everything is, and keeps on getting even more so, month after month. I am not living in the past, or enclosed in a bubble. Don’t generalize.
It's likely because they are no longer actively looking for places to live. I don't think that older people tend to move around a whole lot. The last time I moved was when I was 9 and I still live in the same town and I'm 26. Once my parents bought that house there wasn't much need to move around after that. Now that my brother and I have moved out, they are fixing the home up to make it theirs. I don't know what their plans are, but there's a good chance they won't be moving again any time soon. Those are my Gen X parents. They haven't had to look for a new home/place to rent in almost 20 years. Scale that up to the folks in the previous generation and those are people that haven't needed to look for a place to rent in 40+ years. The only numbers that concern them are housing prices. Also, at that point they've saved, and had careers and don't worry about the fact that people nowadays are getting practically nothing for raises. There's no such thing as a career really. The company I work at hit record numbers last year. Our raise was at most eighty cents based on performance. So not everyone got that even. That eighty cents doesn't cover the increased cost of anything else that also went up. Half of my raise goes to the extra 600 dollars (at the end of the year) I spend on rent now. Not including utilities and food. The biggest thing is that the people in the boomer generation had companies that took care of them more or less. Good raises, benefits, etc. coupled with the fact that the price of goods was low. Nowadays we've got inflation, shrinkflation, etc. and the cost is passed onto the consumer. That's why companies keep hitting record profits every quarter every year. They aren't having to pay for any additional fees from anywhere. The kicker? When those fees come down, the price of goods stays the same.
Well, they aren’t house shopping, having kids, going to school, their homes value is through the roof, their stocks at an all time high, and no mortgage. This is why. At least for the ones that didn’t totally screw up their lives financially at some point.
They think $20 an hour is a lot because they could afford a $35k house 40 years ago on a $5 per hour wage. They don't realize an average home costs $350k now which is ten times more than they paid while average wages are only 2-4 times higher. 🤦♂️
Boomers complain that millennials/Gen Z don’t wanna work when the average home back then costed a couple blueberries. Let’s not forget social security will run out by 2035
@@agustinjr.enriquez6238labor stats show we work more hours than they did, and have a lower unemployment rate than they ever did. Where are they getting this, no one wants to work thing from? Their imagination? People are working. In fact, more people are working more hours than the boomers ever did, and they still call us lazy. They're not intelligent people.
No, they are just greedy and indifferent. Especially people who live in The Red states They spew the same talking points about pulling yourself up by your bootstraps all this nonsense. Some of them were even gifted land and property from their parents. They are so out of touch with the things that we struggle with. I don't even bother trying to explain.
I'm stuck at $14 for a long time. Trying to get $20 job is really hard because most of them are fake/ghost jobs or no wages only 100% commission-based.
And it only gets worse. I'm on disability. I get 954$/month to live on. I get 91$ in food stamps, which does not cover enough food to survive on. I have to pay rent, a cell phone, internet, vet bills for my service dog (and her daily care expenses like food, gear that gets used up, training materials), and also pay for medications that Medicaid/Medicare still don't cover. I am on average left with less than 50$ after bills and before food. I literally can't afford to live, on disability, due to the prices of today's necessities.
Food stamps gave me about $18 a month. I make about $50 more per week than is required solely to pay my bills. It's insulting to me as a person, so much so that I don't even use it. It's less effort for me to do an odd job for someone in my church every now and then to make $20-$40, than it is to upkeep government assistance. We have all these plans designed to take care of people, that in most cases, are just doing the opposite.
You should look into food banks in your area. Service animals can have a HSA used on them for vet visits also. Look into both. I ran a food bank for years, it really helps.
Most of that assistance money is going to illegal immigrants. I'm all for helping others, but our own should get fed first and then do what we can with what is left over. I know we don't have great choices, but be very careful who you all vote for. One side may keep our heads above water while the other is pushing us towards soup lines again 😢
@@kbenn153I’m trying to understand how “illegal immigrants” are getting assistance when if they are illegal they don’t have a social security number. They get deported, how do I know because I’ve worked in Federal courtrooms for 20 years and once in ICE custody they do their time and get immediately deported when their time is up. To make money, they would have to work under the table.
Community college?? I had to get a bachelor's degree and I'm half-way through a master's with 5 years experience and I'm JUST NOW making $20/hour. @@Dinkle-h3v
Yup. Most places only give you 36-38 hours a week because if you're a full time employee they have to pay for your health insurance. Or they'll make you manager and put you on a fixed salary which then requires you to work 60-80 hours a week for $28k... We need a nationwide workers solidarity strike. I bet we could change a lot in 2 weeks. Stock up on rice and beans. We can and already do survive on that already. The rich however can't. We're stronger than them and WE pay THEIR bills...not the other way around as they'd have us believe. 💪
Liberal Party USA! 🇺🇸 🦬 -housing affordability addressing SUPPLY (not making houses more expensive via demand incentives) -strong economy and job market -student loan crisis and tuition cost -social security reform so we and the next generations can retire with dignity -no fascism or socialism; only smart fiscal policy and respecting individual liberties
@@schuylergeery-zink1923 I'm Canadian and but the issues are similar, bringing back an industrial economy would serve to mend plenty of the issues along with getting rid of the minimum wage as they just increase the cost of labour, the main thing with housing is just supply and demand coupled with conpani s like BlackRock buying the homes it should honestly be illegal to rent out a home in my opinion apartment buildings are fine but not family homes. Edit also preventing women from working would bring up the cost of labour more naturally, mind you that can't be done without dealing with the many crisis that it involves, if that was done for example student loans for women would have to be forgiven and many men would have to straighten up their act.
Yeah, some of his numbers are a bit...off. Some too high, some too low. I started off 25 some years ago on my own. Maybe then you could skate by with $100 a month in gas, I think? I know I worked A LOT to make it on my own, even then, along with full time university.
You can opt out of federal withholding. Just make sure to use the extra money to make reliable investments so that when tax season comes, you're able to flip the bill with a little extra left over.
@@auggieeasteregg2150I wouldn't be investing tax money. If there is a major crash the irs doesn't give a shit about your returns not working out when you were investing money owed on taxes.
That's exactly the reason for this. I'm currently researching the pre-Industrial Revolution commonality of "two sleeps" or biphasic sleep. This is the normal way but, due to the greed that started then and persists, it was socially engineered into one long nightly sleep, which is against nature. Aaaand thus, so many physical and mental health problems...
Gen X here. I was just explaining this very thing to my mother the other day! I make 48,600 per year in Va. but am having a hard time saving for retirement. My gen Z 22 year old son still lives at home and can’t afford to get his own place. Times are hard especially if you’re the only one paying the bills (single). The cost of living doesn’t match the current wages.
I make 20 an hour, somehow I still manage to stay ahead and save money and buy things I want, granted I also almost always have some sort of side work I'm doing for extra money, ik it's tough y'all but it's doable, rent-750 which I will say is definitely cheap 200 a month for smokes 400 a month for gas 300 a month for food 100-150 for utilitys 90 for car insurance 60 for phone Also I'm 23 and I do it all myself I'm not one of those lucky gen x that got themselves a house back when a person could afford one
@@jonathonsaavedra843 Well based on what you listed, you're not paying off student loans, not paying off your car, and apparently you spend nothing on personal care (I.G. Hygeine, haircuts, etc.). So yeah, if you have multiple monthly expenses you don't have to pay, it tends to save you some money. Not to mention of course that you even admit you're paying cheap rent, extremely cheap I'll say, when rent is the single largest expense for most people, that shouldn't be brushed off.
Something has got to give eventually. In the early 2000s, the homes near where i grew up were 150k. Those same homes are now 20 years older and cost 900k. Thats nearly an 800% increase. No job earnings went up 800%. Im not sure if the USA is headed for a crash or a USSR type collapse. I blame our lawmakers who are bribed (lobbyed) by industry to allow us Americans to get screwed over this bad. Imagine spending trillions on wars while everything at home is a mess.
It seems clear we will either see a wave of unionization and corporate regulations and policy to expand the housing supply OR we're going to see violence used to quell unrest which will necessitate fascism instead of democracy.
They are hoarding money to control population growth.. which made sense to me until they opened the border up... Now I think they need to find some decent people who are struggling and help raise them up before we lose all of our values, collectively.
@aishanjgirl07 Unfortunately, i can't work a second job because I have a lot of mental issues, so one full-time job is all I can do. And I can't move into a job that's more stressful than what I'm already doing for that very reason. And I'm 29 years old and I'm still living with my mom and sister, but only because my Mom can't support herself and my sister without my financial help. 😮💨
I am 65 yo and I agree with your assessment 100%. It’s painful to watch and see it happening to my own kids and I help where and when I can. Imagine some areas the minimum wage is only now $15/hr or even less. Corruption, greed, tariffs and mass deportations, reductions to Medicare/Medicaid/Social Security are only going to make it so much worse. In DT’s admin it it will be run by billionaires/CEOs and heartless wanna be oligarchs; they won’t give a damn as long as their decisions don’t impact them personally. His less educated supporters will be blindsided the most. Hopefully the rest of us will be banding together. Buying in bulk and other cost cutting/sharing ideas to get us through the next 4 years. 🤞🏽we can put up some safe guards in two years when we vote again.
Liberal Party USA! 🇺🇸 🦬 -housing affordability addressing SUPPLY (not making houses more expensive via demand incentives) -strong economy and job market -student loan crisis and tuition cost -social security reform so we and the next generations can retire with dignity
@@jamescrawford5567 It will all trickle down eventually just have to keep waiting it surely won't keep getting worse. Insanity is doing the same thing over and over expecting a different result. You sir sound very insane expecting to get something other than scraps from the hand that beats you.
Think a lot of it depends on where you live and who you are. I make $24 an hour and end up with about $1500 extra per month. However I wish I bought a house 4 years ago rather than rent because prices went up enough to make me sick but I know I will still be fine. (Just sucks knowing what would have been a $500 payment is now $1300 housing here isn’t as bad as it seems many other places are as that’s a 3 bedroom 2 bath 2000 square foot)
That's crazy you pay rent alone ? Cuz where I live 24 dollars an hour would barley pay your bills and gas and food lmao having 100 or 200 bucks for things you want instead of needing is a privilege around here @@treymiller5736
I make 17 an hour and have debt as well as a barely running car that i don't have money to fix bare minimum of food each month and a whole load of medical problems that i cant get looked at bc i don't have the money to spare for treatment and i live paycheck to paycheck waiting for death and that's only recently i was making 15 earlier 3 months ago and 13 near the start of the year
This is not just a Gen Z issue. No One can survive on $20 to $30 per hour today. Just because we are not Gen Z doesn't mean we make more $ per hour. Other than single out a generation, I agree with the cost assessment.
@@MinecraftKid120 Min wage was literally established as a living wage by President FDR. It was literally addressed in the speech that signed it into law. I believe it was the 1933 NIRA speech. He straight up said a living wage is not one where you are barely getting by and that any business that survives on paying their employees less than that doesn't deserve to be in America.
I didn't become financially independent until I was in my late 30's, and I'm still in my 30's. In addition to having purchased my second home and earning 63k on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realise that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
How can one find a verifiable financial specialist? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
If there were much cheaper but low quality apts available, people would be flocking to them. But old and new buildings alike charge the same damn rates.
because the low-cost ones are being given to illegals and 'refugees' (note: refugee means fleeing widespread violence that you can not escape within your own country, not escaping financial crisis). So, that leaves nothing for the Ameicans who are working, and paying the taxes for those governemnt handouts.
Rent and housing seems outrageous in the usa, no question, but do you really *have* to spend so much on everything else? Groceries? Car payments? Phone, insurance, .. seems all pretty high and more importantly, mostly unnecessary / luxury goods. Edit: Im from germany btw, before im getting accused of being a usa boomer^^
Most of its actually low. Avg cat payment is closer to 700 phone generally double (anything on lower end bit good enough to use for a decent job). 2000 won't cover rent and utilities in alot of areas would consider someone lucky to get an apartment I. That price range. Also depending on area some require your 4x rent to qualify so they wouldn't be getting one anyway even if they could somehow scrap by.
@@Yamyatos you can't see a doctor without insurance, unless you are rich. Insurance is also necessary if you drive a car. Which you need to use to get around in most if the country. You need a phone amd therefore internet access to do everything from paying your bills to applying for jobs. We have no real way to save money. Most of us don't make that much of it.
Imo he did address that by saying people barely live at $20 an hour No health insurance, no fun, no savings, pay check to check, those are all things he said He also said some of the costs are below average I think that gets the point across unless I'm missing something
surviving in luxury. We act like its so bad and oh no we work 40 hrs a week to put a roof over our head, food in our bellly, a bed to sleep in, clothes on our back, and the occasional vacation. Now while it could always be better people who work in America are automatically in the 1% of the world so were doing more than survivng. Tribes in the congo are surviving.
$300 for a car payment? That is EXTREMELY conservative, almost unrealistic! The lowest I’ve seen in years as someone who works in the car business is ~$400-500
I'm literally moving out of the country. But I WILL help the community around me wherever I live by creating jobs for locals. I don't want to keep creating such a vicious cycle in this world.
Man all these people talking about California and New York and shit. I live in Alabama in a house with 4 roommates. My rent is literally 400 bucks a month, I cook for nearly every meal, almost never eat out. If i went down to eating nothing but potatoes and whatever vegetables I could get on sale, it'd still cost me $1100 a month to live (with 4 roommates). I'm lucky my job pays decently well just out of college, but as it stands now I won't be able to buy a house anywhere near anywhere I could get a job, even on 29/hr. God forbid I want kids in the next few years. Y'all really out here with no empathy for your fellow Americans. We have a cost of living crisis and you say "make more money, get out of the city, lol". Wages, adjusted for COL, have not changed since the 80s, and the wealth inequality gap has only gotten bigger and bigger. Thats the fundamental issue. People should be able to buy a house, or at least put away money for safety on an average wage without having to skimp and scrounge. We live in the richest and most powerful country in the world yet our quality of life is shit compared to most countries in Europe.
@@Strangelove657 no, it's corporate greed. Keeping wages for their workers low while raising prices despite making record profits. Pair that with insane housing prices caused by private investors buying up properties all over the country and you have seriously inflated home prices and median salaries too low to feasibly purchase one.
Making 30 an hour wfh at 29 living with my parents. I paid off my degrees a year after graduation and now I’m just saving for a big down payment like 50-60% on a nice condo and driving a reliable beater around. It’s the only way to get ahead. I workout, game, play guitar in my free time; pretty inexpensive. Living off Whole Foods is like 100 bucks a week. I feel like an overgrown teenager but at the same time I better off than most adults. Plus I get to help my parents out and not sweat it. Could be worse, I’m definitely lucky for my parents
I love how nobody is here in the comments telling you « oh wow what a loser » why would you not move out in your early 20’s and suffer like me… Because some still have this mentality
Wow are we twins?? Cuz same here, I pay rent at home but still cheaper than an apt plus it helps my parents. But also wondering where I could buy a small condo someday
@@melvinkeller1466 nope, not how that works. Inflation does not have a directly proportional relationship with wages. Don’t get your information from the people running your pockets
Gen X here. Nothing wrong with the math, all the basic needs are met. So it's a struggle. It's supposed to be a struggle. I remember having $22 a week to eat on in my mid 20s. Ramen, peanut butter & jelly and water were my best friends. Once a month I treated myself to a large double pepperoni pizza $10! I actually look back on the experience very fondly. So you struggle for a little while, it will definitely motivate you to do more, better, faster.
Pro tip for any young people out there. Save up for a 10-12k car while in high school/college. Pay in cash for a used reliable gas efficient car. Not having a car payment leaves so much more room. Best thing you could ever save for when you’re young.
@@1RiverCat “68% of young adults under 25 receive financial help from their parents. Pew Research Center. “(2023). Young adults’ financial independence and reliance on parents. Pew Research Center. During this time which has freed up some of your paycheck you put towards saving. I’m sorry if your parents were poor
Right my bf only makes $16 an hr works 8-8.5 hrs 5 days a week 3rd shift and I am on SSI and I only get $940 A MONTH and I try to doordash when I feel good enough we get help from the VA and we get food stamps but we are still having to have my grandma give us money to help pay bills and afford necessities. We have to move next month but can't even afford to apply to places cuz they charge an application fee. I'm 27 with no kids he's 34 with one kid that he pays child support to we have no life outside of work and staying home we can't do anything fun we can't make memories together cuz we are too broke...
@@Aj_Leigh 16.55$/h is the new minimum wage in Canada, check the minimum wage of where your at and confront them on that. People have put up jobs for less than minimum wage postings, postings without mentioned pay, and more sketchy things. Generally keep a lookout before you look for a hiring place.
As a milennial who bought a double wide in 2017, with a paid off car, 3 yr old phone, and fifteen minute commute, all I got to say is good luck yall. Even I'm barely making it
He didn’t break down anything, he just showed that averages don’t mean much when discussing individual circumstances. He also proved the boomer right because those averages represent over consumption in and of themselves
@@VeerVKrishna ah yes, of course, I can just PICK the job I want, why didn't I do that instead of turning in 367 applications only to get two callbacks and one interview? You're either willfully ignorant, or a rich kid living off daddy's money.
@@thebrandunsafeone7184 You’re right that the economy isn’t nearly as good as it was during Trump, and loads of people have had to pay the price. I’m not sure what field you’re working in, but I am sure there are certain job that will always have openings, and as of now there are 7.4 million labor jobs available in the US, while there are only 6.1 million people unemployed. Now, if Mr Trump wins, there will be more jobs in every industry (like there were in his last term), and the price of goods and services will be drastically lower.
@@Snackery24 a good percentage of older people make excuses for CEOs. They vote against the interests of the working class because Reagan and his CEO cronies have tricked them into thinking rich people aren't out to destroy this country and all those working inside it. Quit voting for conservatives and you won't get lumped in with the monsters ruining this once great nation.
@@Snackery24 older folk (gen x and older) were able to buy housing well before the market became as royally fucked as it is currently and just dismiss the reality of the situation.
@@adamo36532 lol no. I don't work for the government. The math is pretty simple here bud. The company I work for made a certain amount of money. The CEO is keeping 1000% of what he used to. He doesn't have to. He could give that to me. Are you afraid of your boss? Do you just find him to be a better man than you? What is it?
@@wolves600Don’t mind them. They failed general history math and being a normal human. They probably didn’t even have a normal education, just a right wing ideology of some fantasy of how the world works because they are rich.
YOUR SO RIGHT... I DON'T KNOW HOW ANYBODY CAN RENT NOW A DAYS!!! OWNERS THAT RENT ARE GREEDY !!!!! CORPORATE COMPANIES ARE ALSO GREEDY!!!!!! EVER SINCE COVID..... THIS IS WHAT HAS HAPPEN!!!! NO REASON FOR RENT OR FOOD OR ETC. TO BE SO EXPENSIVE!!!! JUST GREEDY!!!!!!!
@@neverstopschweikingthen you made a poor Choice and/or are a poor candidate. We left California for the mid west and I was able to find a job with a competitor paying 15% more. I may have grown up in a trailer park but I wanted a better life and I found it.
Don't go somewhere where rent is 2,300??? If nobody will pay that amount they will be forced to go cheaper with prices. There are apartment complexs all over the country for people who need help, and with those, though they aren't the best, you can live with only having to pay water/electric bills. Which goes up around 200-300 dollars a month.
As a Gen z the boomers call me "greedy" at work and home when I make a pathetic ass household next to them working hard investing it while in college madly saying "I'm rich and I should give back to poor people, no invest money" all I get is comi Germany 😂
Honestly… I think we need to stop with the generational hate. Our parents and grandparents and great grabdparents probably had things rough as well. Otherwise our families would be well off. Right? (Assuming they didnt have 3+ kids which.. doesnt help typically.) People that have lots of kids generally leaves the kids poor.
@@RickRorose What are you talking about? Our Grandparents and great grandparents were in multiple wars in history, WW1, WW2, Korean Wars, Nam. Thats not easy for families of the time, the soldiers, or economics. Our parents then lived in times recovering from years of wars.
And that’s without kids. Without medical bills. Not counting any money for extra stuff around the house you need or if something breaks like a phone etc. not counting if you simply want to attend one concert per year or buy your mother something for Mother’s Day. God forbid. This is simply just someone who works no stop. Never misses a day. Never buys a gift. Never breaks anything. Never has any unfortunate circumstances happen that cost them money etc. it’s just not doable. $20 an hour is no longer a sufficient living wage yet here we are still fighting for $15. Where I live the minimum wage is $7.45. When I was 16 a decade ago it was $7.25. That means that in a decade the wage hast even gone up a single dollar. Yet, in that same decade rent, gas, food, etc all cost double and sometimes triple the price a decade ago. Absurd.
@antoniokehoe2363 every scenario is unique. This is just mine. Sucks, but the auto industry bought up a lot of public transport just to shut it down and force people to buy cars... just like women's clothes avoid pockets so they can sell purses. Honestly it is all rigged, and we are forced to figure out ways to make ends meet. This is just how it works for me.
@antoniokehoe2363 if everyone could do that we would have solved the climate change problem and homelessness. I'm just saying what works for me on a similar pay scale. I'd hope if anyone had a widespread solution, they'd come forward with it. Frankly this nation needs it asap.
The cost of living has spiked, even in just the past few years since covid. I remember getting my first 2 bedroom apartment for $950/mo. and it was on the upper end of the area I was in. Now I couldn't find a studio for less than $1500/mo. in that same area. Thank goodness I bought my house just before the cost of buying one skyrocketed.
I tell my parents this, and they always just say “you just need to work harder then, we worked hard and now look at us!” I’m just like…*sigh* they really will never understand. It’s an entirely different game.
America was sold on the idea that of you work hard you'll achieve your goals. That's not true anymore. That was true when Americans had high purchasing power. We don't anymore.
@@xXtuscanator22Xx If I were you parents I would fill immense disappointment in you by the fact that you have the time to complain on TH-cam but no time or initiative to better your life.
@ineedmondayoff are you willing to go back and work for the wages they made when they bought there house where the wage 1.15 an hour I'm 43 I remember my first job I made 3.85 an hour and after high school I didn't go to college I worked 2 jobs and lived way below my means had 2 roommates I didn't party I saved and invested and now I'm in position to retire early because of the sacrifices I made we didn't have it easier we literally worked our asses off and those people who were out partying and everything else well they aren't doing well financially either it's completely up to each person to decide how they are going to turn out
I have an apartment for $600 a month. I eat rice and chicken for most meals. I am alone and live on a $15/hr check. I still save a few hundred dollars a month. It's not impossible, it's just BRUTALLY hard. I think I'm successfully staying within my budget simply because I like money more than having fun.
Yeah, this video doesn't really account for the fact you CAN survive on less if you're willing to make further concessions which sucks. Definitely recommend the younger generations focus more on trade school rather than college. Too many degrees just often don't justify the expense.
Yeah but sadly its still barely getting by, if an emergency happens, or say you have an elderly or disabled family member to take care of… things seem impossible. Say you have a medical emergency? Heck even if you dont have anything bad happen to you, or only minor bad things, how the heck are we supposed to afford having a family? Retirement? It’ll take probably 2 million or more in the future to have a decent retirement, that seems impossible. Contributing to a Roth IRA, hitting max contribution is 7,000, most people cant even make that contribution. Doing 7,000 a year will be the minimum you need to have to also be able to retire okayishly. After 40 years of that you might hit a bit over a mil, maybe 1 mil and a half if lucky. (8,000$ if over age 50.)
@@XFizzlepop-Berrytwist Can't count on social security so a Roth IRA is the bare minimum you'll need. May as well contribute what you can to non-Roth accounts also.
Yup I’ve been trying not to eat too much as to not finish up my groceries too fast because I just bought $227 of access codes for two of my courses that I need to get my assignments done I only have $38 left for the next two weeks since I get paid biweekly and it’s $13.50 an hour it’s also hard to be working and studying at the same time because apart from that I have other responsibilities I have to spend a lot of time on I barely get time to rest it’s so draining
Not really when I was 16 my first job at Hardee's paid me $4.75 an hr...I'm 63 have NEVER MADE $20 an hour! I worked 2-3 jobs, Everything I own has paid for in cash and I owe nobody nothing! $ 150 for gas??? Where the hell are you driving???
@catherinewhitman8333 your the people that need to understand what gen z is going through what do you not get 16 to 30 yrs today cannot afford anything on $20hr this is fact.
@@catherinewhitman8333 when you were born gas was literally 31¢ a gallon. When you were 16 so in 1977 gas was 59¢ a gallon. You were getting paid $4.75/hr. Minimum wage 47 years later is 7.25/hr and gas cost today on average is 3.50 a gallon. Now we could also look at property values and the cost of living… the median price for a house in 1977 was 48k. Today its 412k…. Do i need to continue?
Me and my fiancé are living off of $16/hr. Just one income. We’ve got pets, too. Our rent is around $1,200, we spend around $450 on groceries, our monthly animal budget is around $150, and our monthly bills probably rack up to around $200. And forget trying to take our animals to the vet, cause that’s out of budget and we don’t want to go into debt. It really is difficult. I wouldn’t recommend living like this for anyone.
I'm sorry for laughing but ending that with "I wouldn't recommend living like this for anyone" had me rolling. Perfectly dry understatement, even if you didn't mean to.
Technically, 40,000 turns into 33,000. You're comparing yearly totals to monthly totals. 40k is ~3,333/month. Taxes eat a chunk of that, leaving you with ~2,750/month, or 33k/year
Well, it's because of the cars and insanely expensive highways infrastructure cost, and so the subsidies of oil prices and lobbies of car manufacturers and also lobby of insurance companies that rip everyone off and here you have it. Overpriced everything, useless spendings on cars and gas (I'm 31 and it makes no sense for me to buy a car as public transport is top notch and I can bike to 85% of places in 15-25 minutes, because cities are designed for it, not for cars) and miserable life for all, while getting twice as much as an average European. European gets less, but actually that includes some savings (he does pension payments by default) and health insurance, and free education 26 days of working days of a vacation a year, also holidays and about 4-5 extra days in case he has kids. Not to mention that he can also get sick and will still get 80% of the salary if he never show up for month or more. And that's in Poland that is far from being a wellfare country. For just around 25-30% of taxes you pay on your salary.
It's funny how people don't understand the biggest chunk of your taxes off a paycheck goes to terribly run social programs while still wanting 'free healthcare' that will take way more of your taxes
GenX... I work a 9-5 job, I have 3 different side hustles, live on the bare minimum (no cable, Internet, no health insurance, and on a limited budget for food) And still get denied for a house loan because I don't make enough (Edit) (For the ones that already left a comment) My ex-wife took everything in the divorce. she filed for child support (her and state never contacted me). So after 7 years of back child support, basically starting over from nothing. Yes it's hard to earn what I used to have. My child support is paid off. Yes my credit is in good standing.
I live in Idaho, Single income family making 23.50 /hr. 1534 mortgage payment. 2 cars, Cable TV and internet, heath insurance, streaming services, monthly car wash and 400 going to my retirement. It can be done. But not if you have a huge amounts of debt. Credit cards, personal loans etc.
Don't feel bad I was making 57.35 an hr and lived at home till 32 bought a home when the rates dropped during COVID don't feel bad man they are ur folks they want to help just throw them some money for food or do something around the house and tell them thank you
Older generations don’t understand that money today isn’t worth the money of their generation. Rent or mortgage is over double what they likely paid, and so is everything else. 80k a year goes really fast when rent is 2500 a month plus utilities and that’s just rent. Groceries, transportation, healthcare, etc for a family of 4 makes 80k feel like 0k…
Thank your democrat politicians who have controlled this country 12 out the last 16 years, funny how the 4 years they weren’t in power everything was great and affordable 😂
I feel like lifestyle is reverting back in America. I grew up in India where kids live with parents. There is no concept of getting your own place. I never knew weekend concept until I migrated here. I went to school and studied. Hung out with my friends in neighborhood. Saturday and Sunday were for catching up on school homework and help mom dad out with house chores.
Thank you for this down to earth response. There are so many people out here saying it isn't possible. What they're neglecting to admit is they're doing it all wrong. They want freedom, convenience, and extra money. Most people all around the world don't have the luxuries someone in a minimum wage job has here and they can't even see how good they actually have it.
@ it is possible, but people need to be willing to compromise and sacrifice. Sadly, many are raised with unrealistic expectations. You work with what you have. My grandmother who had 5 kids to raise when her husband passed away, told my mom , “ do not envy what others have, do not compare yourself with others, live within your means and be thankful for what you have.” My mom at times had just one meal a day. She studied and got her Masters degree. She sacrificed her weekends to study. Didn’t go watch a movie, ate at home, and didn’t indulge in unnecessary shopping. She raised us with same values and now my siblings and I are successful.
please stop being generous with cost breakdowns. Giving the ave is better imo. No one cares about the lucky person who was fortunate enough to find a deal.
Honest question as a german tho, is 500 for groceries really realistic? That seems way out of proportion for a single person to me. I pay like half that a month? Some of the other stuff seems a bit high aswell. Like, why buy an expensive car where you have to pay 300 bucks a month in payments and 150 in insurance.. if you can just not have a fancy car as a status symbol (which really shouldnt be a priority) and buy something used for a total of a couple thousand bucks (got mine for 1.5k€) which will also drastically reduce insurance / tax on the car (400€ a year here). That's nearly 450 bucks saved a month, plus presumably some on groceries. Not sure why cost on the phone is so high either. Like, is it really that common to buy stuff on payment plans in the usa? We just buy a decent phone out of pocket and then only replace it once it's gone here.. zero phone payments aswell, other than a couple euro for flatrates (in my case literally 2€ a month). What im getting at is.. that while i dont know specific prices, im pretty sure you could actually save A LOT of money by simply caring less about status symbols, like fancy cars or always having the new phone. Very same lifestyle. Potentially hundreds of bucks a month saved. Will you be able to afford a house because of that? Nah, our generation is screwed, usa especially, in that regard. But saving money is always a good thing, no?
@@SticklsOfDoom Those arent estimated, but what i paid. I wasnt claiming that prices are the same in the us. We arent talking about just used cars. Used old cars. Like 1990-2005 old. I just checked some offers for cars in the usa and found many good looking ones in the 3-4k$ range, with some a bit more shabby obes around the 1-2k$ mark. Shabby but definitely working, that's what im talking about. Checking insurance.. it's actually kinda expensive in the usa, but you can go as cheap as 50 bucks a month apparantly. Depends, obviously. But needless to say, cheaper cars equal cheaper insurance. Correct me if im wrong, but a 300$ a month payment is for a car more in the mid 10-15k range, no? Which, in my books, is literally paid solely for status reasons. Thus unnecessary.
@@Yamyatos I buy for me and wife and spend about 300 a month using coupons and discount grocers. His number are most likely in most expensive area of us.
Spectrum mobile is 29.99. cheapest studio is 289 most expensive in my complex is 325 but they have 2 bedrooms for 500. 8 vacancies and all utilities are paid. It's Northern Wisconsin so there's a lot of snow but you get used to it. I'm just sick of people complaining. It doesn't matter how much people complain. Doesn't make things better.
Its is way more expensive today to get started in life in comparison to when I did it in 1989. Everything costs more and there are more basic expenses. So unfair not to consider this. $300 for a sytudent loan payment is ridiculous. You'll never finish paying that loan
The cost of college is ridiculous, but it’s not impossible to pay it off. I’ve heard plenty of stories of college graduates with more than 100k in debt be able to pay it off and even retire before 65. It’s actually pretty easy if you make around 60k annually. Most college grads make more than that anyway.
I live in the middle of *SILICON VALLEY*, and just moved across town. 1 bedroom apartments for ~$1700 a month were plentiful. If you are living in a place where you *can't* find an apartment for $2000, you're *definitely* living in a city with good enough public transit that a car is *not* a necessity. Get a bike to bridge any gaps in transit coverage, and use that to skip the gym bill while you're at it. So that's another ~$700/mo savings. Sincerely, someone who did pretty much exactly this for his 20s.
(but yes, paying the 1BR premium is dumb anyways, get a 2BR and a flatmate. Share a room, ideally, but even I gave up on that quick after my third snorer in a row).
Liberal Party USA! 🇺🇸 🦬 -housing affordability addressing SUPPLY (not making houses more expensive via demand incentives) -strong economy and job market -student loan crisis and tuition cost -social security reform so we and the next generations can retire with dignity -no fascism or socialism; only smart fiscal policy and respecting individual liberties
I’m making 92k with overtime and here in jersey honestly I wouldn’t be where I’m at without my parents. I lived with them till I finished school & even after I got my first job after college I still was living with them. It costs so much to do things by yourself
Anyone living with parents should be saving money as much as possible SAVE, SAVE, SAVE! this is how you get a huge down payment for your first home. I can't tell you how important it is to take advantage of getting to live rent free for a couple of years. YOU MUST NOT GET LAZY & BLOW ALL YOUR EXTRA MONEY. One day you will be mad at yourself for wasting this opportunity. It makes all the difference to be able to buy your own modest home early in life. That home can supplement your income in retirement. Please don't blow your opportunity to start accumulating wealth when you are young.
Thats because you live in a state with some of the highest property taxes. If you lived in Ohio, South Carolina, Iowa, and several others, you could buy a home with that 92k.
@@davidjackson7698 exactly. Doesn't matter what it is. It might as well be $100/hr because nothing is preventing the prices going up with the labor going up. Are we so naive that we think businesses can stay in business by constantly taking hits financially?
@davidjackson7698 giving the bottom of the barrel, a survivable wage isn't the cause of the middle class not getting a bump. The middle class already hasn't gotten a bump and it's the companies they work for that haven't given it to them already. Unionize and rip you fair share from their fat, greedy fingers by force if you want to save the middle class.
I'm not saying start at 30 just let's say in a trade field let the apprentice after a bit make 30 journeyman like like over 30 to maybe 40 then the master make like 45 to 50.
Bud, this speaks to me as someone making about $30-$35 an hour outside the USA. My country is ripping us off currently and I worry for the generations beyond mine
Depends on where you live. If you live in a city or a somewhere where living expenses are ridiculous then yeah 20/hour isn’t livable. In my state I make 15/ hour. I can pay my mortgage (4 bed 2 bath 2000 sq ft house on a half acre lot) and bills alone if necessary. I’m married though so yeah combined we clear it easily. But the fact is I could do it by myself. People just live in expensive places and work at McDonald’s or Walmart and wonder why they are able to live like kings.
@CurtTheRed that's what I'm saying! People work at a Starbucks in New York city and wonder why they can't afford the top floor penthouse. I'm guessing you live in the midwest or Texas cause that's where I'm at and I can live comfortably in an apartment by myself and have plenty left over to save. Also finding a partner and settling down early isn't soemthing many people do anymore. It's cool that you wanna be a doctor and travel the word and start your career before settling down but it's not cool when you're 40 years old and swimming in debt up to your eyeballs
@@neverstopschweikingexactly. My 2017 Jetta NEW cost me 340 a month for 7 years. That was the first new car I ever bought and I was 27 at the time. The entitlement is ridiculous. You want a car? You buy a 2010 Toyota for 3000 bucks is what you do. That shit will last for 400k km if you do the bare minimum of maintenance.
@@Sanxioned1 For a new car for economically active person who can afford it, a new Jetta is a reasonable thing, those payments are acceptable. I never owned a new car, but I bought a minivan for $3500 two years ago, which I saved for and paid cash, also using the $1500 from selling the previous car... which I owned for 4 years and which I bought for $1600. In both cases, those cars are more luxurious than I need, if it were for me and not for the family, I would own something much cheaper.
@@VadulTharysI WISH the increase of the cost of living happened in 4 years! That would make it sooooo much easier to fix! Unfortunately, this has been an issue long in the making. It's easy enough to research the history of the costs of living and compare that to the changes in minimum wage. One increased significantly over several decades and the other changed by $5-10.
@@Hoppypoppy21 in the last 4 years there has been a 50% increase in the cost of living. Again 16 of the last 20 years one party has had power and if you look between 2017 and 2020 there was a 5% real wage growth in the US. From 2000 to 2016 there was a 3% real wage growth from 1990-2008 after that there has been a -12% real wage growth until 2017. From 2020 - current there has been a -30% real wage growth mean actual wages increases are far outstripped by inflation. The real wage growth in the 1990s and early 2000s were tied to Clinton's actions reducing regulations, expanding markets in Asia and the housing market bubble. This worked great until the bubble burst n 2008. As for minimum waged are you aware that it is a racist policy meant to keep Blacks poor and or unemployed? Learn the history of it. Before minimum wage laws were introduced the income gap in the US was small after Minimum wage laws were introduced it started skyrocketing because it gave companies the ability to dictate to workers what they got paid versus the workers dictating.
If your young stay with your parents as long as possible and invest everything you can in the stock market. Don't buy stupid meme stocks. Buy quality large cap companies or invest in etfs like QQQ, SPY, SCHD, JEPQ, or JEPI. Research and pick whatever lines up with your risk tolerance. Once you have 100k put away working for you, then go out and live on your own. Try not to remove anything from your investments until you're ready to retire. Put the majority in a regular brokerage account because you'll be all set to retire long before you reach 59 1/2. Also, put some in a Roth IRA for after you turn 60.
You aren't being smart with your money then. Your pricing average would have had to be around $6 per item. That is insane, but makes sense as most main brands are around that price now a days. You can get the same items for cheaper prices by just looking for deals, finding store brands, and also paying attention to how much everything is. Also how many of those items did you actually NEED? That's something that you need to ask yourself, I know that every know and then my family likes to go and get some snacks and stuff, but if it's needed we could drop getting snacks and only have actual food. That would cut down our Grocery bills by like 30-40 dollars easily.
In Sweden, $20/hr is a good pay, it's a shame you need $40/hr to have a good life. I live on $2K a month. And if it weren't for me renting a place for $600 in the middle of f'n nowhere, I'd not survive. And here's the kicker, you're poor here if you're not making minimum $40'000 a year. Especially since most rents are at $2K or more.
If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
Same here, I believe the Bitcoin ETFs will be life changing opportunity with my current portfolio of 132k made from my investments with my personal financial advisor I totally agree with you
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
@@musclecar62 you don't think about it . But a weekend costs like 200 dollars. I can't go to the grocery store without spending 100 bucks.. gas is a 50 dollar pull up minimum. Everything is absolutely depressing. And it takes everything in my to not break down in front of my wife and children
@@crzycolchris and it wasn't nearly this bad before the Harris VP. She helped create this problem (covering costs of illegals and theft is expensive!), so don't entrust her to 'fix' it. Elections matter - vote on policy, not on gender or party.
Groceries are way too high for a single person, come on. On that budget, they could almost eat out every day and save money. Averages are stupid here, clearly the average person overspends. I have a family of 5, yes 5 people, and our groceries cost $400 a month. That's $100 per week. On a per person basis, that's $20/week. I buy flour, eggs, milk, cheese, fruits, vegetables, pastas, rice, beans, meats, and some other basics, and we cook. What i dont buy is preprepared meals that you just pop in the microwave or oven. Those are as good as, and as expensive as eating out.
You are not paying $7k in taxes when you make $40k unless you live in a really high tax state. Also, come to nebraska, Iowa, south dakota, etc. You'll make 20/hour and your rent is $800/month for a 1 bedroom solo.
People tend to forget that there’s a big difference between barely surviving and living comfortable, barely surviving shouldn’t be the end goal here
It's not the goal. It's just all they allow is to do. And sometimes surviving means completely sacrificing any comfort or joy.
for very low pay?? below the average or median??? ywhs ur not gonna be eating steaks or even have a car.. I donr get how ppl think shit works
Yeah of course. we should all be broke can't wait for my children to drive skateboards every and eat sewer rat because that's all they overloads allow us. This is stupid to augments. Our government is mistreating us
@@Aro-k5kthen what’s the point of surviving at all if there’s nothing to gain
It's not as bad as all that. I live pretty well off less and so does my brother and a lot of my friends.
I love how he was being conservative with all those numbers and it still came out as barely surviving. They ask us why we still live with our parents in our 30’s
Because you're wasteful and unable to solve your own problems. Possibly lazy. You don't think so, but your parents probably worked 60-70 hours per week at your age but you just wont.
There is nothing wrong with sharing a place with parent(s), but there is a difference between living with your parent (sharing a place) and LIVING with your parent (like they are still a kid), the latter is what is looked down upon. I work with people from both groups.
His estimates are higher than my costs and I support a wife an child in a home that I own. Some of it is just financial literacy.
@@purplefreak3 Still people consider you a failure if you live with your parents. This economy doesn't allow independence
@@theninjaofmusicso youre a home owner and support a wife and kids off 20 an hour working 40 hours a week? Must be nice
Doesn’t matter what the wage is. The real issue we need to address is the cost of living.
Exactly
Well, he essentially did do that. One of the two need to change for the total cost of living to be reasonable.
The real issue is the Corporate Welfare your taxes are paying to enable the 1% of the 1% to have enormous tax breaks, some pay no tax, while they use their media and their politicians to convince you that you’re not working hard enough and that anything remotely beneficial to ordinary citizens is socialism.
Inflation
Agreed
Gen x here. Between myself and fiancé we living paycheck to paycheck. I have two of my adult children still at home because there is no way they can afford it on their own. I fully stand with the younger generation on changes that need to happen so they can actually have an affordable life.
I suggest that if they are living at home to sit down and list the House hold bills. The house hold!! if they are on the car insurance then add that. Also calculate the food in a separate group. then take the hh bills and divide by the number of people and that is the hh rent each should pay every month.then do the food. so everyone will have a hh rent and their own personal bills. If you are not able to have money after splitting the hh bills with everyone then there is something wrong with your finances. You may need to move to a lower income area or something. No one should be complacent though. with the increase in money after payday need to pay off any debt!! also need to save for major expenses, retirement, cash car or for their deposits for a place or a house for them selves or for when they marry and move out. My family did that for many years before i finally bought my house.We were able to live in better areas that what we could have lived in on our own.
Im Gen X also I make 37.60 my 2 grown sons are still at home as well.
Why didn't you start working and saving at age 16 or before as MANY BOOMETS WERE WISE TO DO.
Stop crying= life is no t easy
Honestly, we probably need to start doing what the Asian cultures have done for the longest time. Generations living together and caring for one another (where possible. Don't stay in an abusive situation.) We are already being shoved into it by the prices, but it is actually a financially good idea if there is communication and space.
This actually would solve a few different problems (generally). The elderly can babysit the younger children, and in return parents and teens can care for the elders. Elderly get social security (for now), which can help improve the financial situation overall if combined with both parents working. It may also free up a little of that money for them to even enjoy themselves! Children can grow up in a slightly more stable financial environment.
It is not perfect, and I know places like Japan are starting to push the independence mindset, but there is a reason why it worked for generations.
@@Thesakuraharona That is what my family has done from the beginning. We had 3 generations at one point till my grandmother died. When I was just starting out and going to school i paid a small rent because my income was low but I did pay something. When I was working full time my grandmother, mom and my self gathered the house hold bills together and split them evenly then did the same with the food. When my grandmother died mom and I did the same. when she started having medical issues and couldn't work I covered everything. When she got SSI and my brother started working we split the bills again. If there is a drop in income on one side the others covered the rest till things got fixed. Because its shared its not as much and much less than living on their own. We are also very comfortable with each other.
Old people forget inflation happened. “i WaS mAkInG 40K wHeN i wAs Ur AgE” which is going by the mid 1990s is worth roughly 85K today
yeah, but working fast food or at the mall full time made you about 10-12k /yr in the 90's...
most places of that tier of work now are offering more than 15/hr starting out today, putting you close to that 40k year this guy is using with no experience and no skills. so effectively the lowest wage jobs in america have nearly tripled in pay, while your middle income jobs have not even doubled since the 90's. this isn't a low income problem, you were NEVER able to get by comfortably with a low income job. that hasn't changed. but middle america with degrees and/or skills/experience have been kicked in the face and beaten down into the low income bracket while carrying the lion's share of the tax liability and the mouse's share of benefit from taxation.
@@QwestyDaQwest Well said 🥂🥂
I have some disagreements about the budget he suggested:
>rent should be much, MUCH higher than $2000 a month, or $1200 with a roommate. That’s being way too conservative, even for rural areas. Unless you’re living in “the projects” where you’re required to make below a certain amount to qualify, you ain’t finding a place for under $2000 per month, even if it’s a roach trap.
>food budget should be lower. There’s no way you’re spending $200+ on food JUST for you per month. Most college students know how to get by with less, buy foods in bulk that will last a long time and be filling (even if not nutritious) and can generally squeeze by on about $75-$125 per month. (Assuming inflation at the store, we can round that off to about $150 max.)
>”personal care” probably no. Those are wants, not needs. You don’t need a gym to work out, and you don’t need a barber to keep your hair trimmed; just a razor, a mirror, and and a pair of scissors. All of those can be kept in your car, 🚙 should you be lucky enough to own one, or your backpack. 🎒
>tuition should be much higher. Also, unless you had scholarship or your parents forced you to go to college to continue to have a place to live, going to college is an economically irresponsible choice. This isn’t the 1990s/early 2000s anymore- it’s common knowledge that most degrees are a waste of money compared to the trades/certs.
>gas should probably be a bit lower. If you’re driving a rice burner, even with a longer commute you should only be buying about 1 tank of gas biweekly- or, about $110 worth of gas rounding up for inflation. It did come back down recently thanks to the election, so it shouldn’t cost you $150 to make it through a month. If you’re driving anything that uses more gas (such as a pickup truck that you’re NOT utilizing for hauling loads) then you’re wasting money.
Aside from that, yup, you guys are pretty much on the level for boomers being disconnected.
@@QwestyDaQwest I was "middle income" in the 90's, making $20k/year, and still struggling to make ends meet. I had to work two other part time jobs to have enough to save. I had roommates, I owned a used car, I rarely ate out and NEVER bought Starbucks, nor did I have cable. What makes you think middle income earners were so much better off 30 years ago than they are today? These assumptions are wild.
Those of us who tell you you're overspending if you can't live on $20/hour stand by our opinions because we can live on less than $15/hour in *TODAY's* economy. (My expenses today are less than $25k/year, and that's even while living alone.) You struggle because you think you're entitled to the same lifestyle as someone who's been working, scrimping, and saving for 30 years without actually working, scrimping, or saving at all. No one feels sorry for you.
Old people do NOT forget inflation happened. Every time we look at how little the money we saved is worth now, every time we buy basic things at the grocer, every time we have to buy medicine or pay a bill, we know inflation has happened, because everything we worked for is worth little to nothing. Retirement is not possible for many old people, but we get told to get out of the way and let the young people take our jobs. Our country is mismanaged.
Yes everyone! Go to work. Go home. No reason to have hobbies or enjoy the beautiful life around us. Just work and pay your bills. There is nothing more to this life.
The dream of all corporate and political overlords for the masses, work till you drop, poor and desperate.
@@jsan6967you should be able to do that as well in your 20s.
@@jsan6967can you invite me into the world where head down working during your 20s earns you vacations in your 30s? At my current trajectory my partner and I wont be solid until pur 40s.
No vacations, no excessive spending, only the bare necessoties in a low cost of living area and the only major costs being necessary health related procedures.
We did job hopping, hve done budgeting, have done all of those stupid gotcha suggestions. At some point the answer is just the economy is awful dogshit.
@@jsan6967 I didn't see the part of the video where he budgeted for a trip to Europe?
It depends. If hiking is your hobby, go for it. If your hobby involves world travel, it might be wise to find a more affordable hobby.
Gen Z... As a millennial I JUST got to $25 an hour and it's all going to the debt I accumulated making $12 an hour. Godspeed Gen Z
As a general rule Z, I pray for you. 😬👍
Yeah about those 25 dollars an hour, fun fact the $15 an hour minimum wage conversation has gone on for so long that the cost of living to be out of effective poverty is between $20-$24 and hour.
$25 is scraping by, my thoughts are with you.
@@JF32304i live in Cali and make 17 as armed security. Im in poverty frfr.
I'm at 15.50..
THANK YOU! As a Boomer I’ve been telling my friends this when they complain their children can’t leave home! Many of us don’t know the price of what it takes for young people to just survive! As a recently retired educator I have discussed this extensively with my grandchildren and help them break down real expenses! The rental market is the number one disappointment for young people! I cannot believe the prices of rent here in Georgia! Their best bet is to try for a decent roommate and hope they’re compatible!
Oh honey tell your kids not to move to California or New York then because I'm gen x and can't even afford to live on my own salary
Yeah the Metro Atlanta 1 bedrooms is atleast 1150 to 1700 or 1500$
@@sayingso1983At this point it doesn't matter where they live cause almost everywhere is charging $1500-2000 for a one bedroom in any area without crime.
@Bliss-l1t not true...there are states that are still charging $700 for a one bedroom....it's just major cities are expensive.
@@sayingso1983 Here in Georgia even the suburban areas are expensive if you want to live in a decent area, or it’s far out from most jobs and/or social life. Also, lots of suburbs don’t have a large amounts of apartments, so there’s that!
Did this with my grandparent about 10 years ago. She sat down and helped me budget. When it over she just said she was sorry.
I did the same thing with my parents 15 years ago with my $9 p/hr job. They have never accused me of overspending again.
My mom has always been hypercritical and accuses me of "wasting money".
I showed her the grocery bill for the family groceries I was buying.
Then I showed her my latest paystub.
She made an ugly face, hook her head, and walked away.
That was back in 2017. I was making $14/hr.
Now that she and my dad are back to buying the groceries, they come home with one or two bags of stuff, mostly small single serving things...and ALL THEY DO IS COMPLAIN ABOUT THE PRICES.
Lmfao
But I'm crying
Lmaooo did the same thing. What’s the point of making more when the infrastructure constantly raises prices
@@chavezgreen4568currently large corporations are admitting in court to raising prices extra just because. Actual studies, math, economists, ect. all say that raising wages won't have nearly as big an impact on prices as we're lead to believe. The problem is the rent seeking behavior that even the best Capitalist philosophers hated.
Yep. I make 30/jhour. My bills are almost exactly that. Thanks for making me feel normal. Really.
Sorry $500 is too much for groceries : a person earning such should spend $150 - $200 for groceries and maybe $50 - $150 to eat out monthly so that should be about $300 for feeding and groceries and savings of $200.
People have to learn to eat at home more.
Also people don't need to have car payments ; manage a cheap used car for a few years and then buy an affordable Toyota after 5 years or keep buying newer used cars.
@@adeyosola414 depends on wereyou live and where you can shop, groceries are crazy right now, barely a week worth of food can get to $100+ with things on sale and coupons, when the items aren't that expensive. It also depends on how much you make because the money on food? That's shopping at the store, generally so you can have a month of food.
@@adeyosola414 This isn't 1997. There are no CHEAP used cars. $150 per month in groceries is absolutely unrealistic. 😮
We let in 15 million people. This is the problem. We don't have enough children to repopulate ourselves. If we had empty apartments and homes, the prices would go down. It's supply and demand. The Biden Administration did this to us.
@@adeyosola414 $150 to $200 for groceries? That's only about two weeks (or less) of food for a single person, if you don't buy anything fancy. For reference, I don't eat meat either and only fish, eggs, and vegetarian foods.
If you can spend that much per month, you must not be in North America.
We’ve been arguing for a $15 livable minimum wage for so long that now the cost of living has doubled
a minimum wage won't fix this mess, its a bandage over a massive bone jutting out of your leg type problem, we need to start implementing laws stopping corporations from owning homes, start deporting the TENS of millions of illegal immigrants we have and stop sending hundreds of BILLIONS to countries that openly announce they hate us.
No, it’s raising the minimum wage that rapidly increased cost of living. Use your damn brain dude.
If person A works for ten years to attain certifications, experience, and value so that they can be paid say 25-30 dollars per hour. How do you think they’ll feel when person B, a McDonald’s worker, suddenly makes 15 at 18.
They’ll feel like they’d better get a damn raise. So most or some do, while others don’t and start struggling. Their bosses don’t like how this costs them more money. So prices become raised on goods and services. So now all the sudden the cost of living is higher. Those who managed to secure a raise are feeling fine. Those who managed to secure a raised minimum wage were only happy for a moment and are now struggling again. Those who couldn’t secure a raise are fucked. Then morons come along asking for the minimum wage to be raised to the new cost of living.
Do you know who benefits during all this? Rich corporations, executives, and politicians who not only become unaffected, but even become benefited by the people’s increased reliance on welfare and other such “social programs”. But yeah man, it’s because minimum wage took so long to increase. Dipshit.
Just goes to show the issue isn't the minimum wage at all, it's the devaluation of currency. Plenty to argue about who's responsible in the end (companies vs governments vs US federal reserve, personally I lean towards US federal reserve as primary cause, possibly even with it being an international issue, given how dominant the US and its economy are in the world) but it's still destroying everybody regardless, and just raising wages is likely to just result in Zimbabwe/Weimar Republic levels of worthless money (cheaper to burn money than buy firewood)
The wage is just a small part of the issue with cost. There is also things like fuel and other commodities that are extremely high or policies that incur additional costs to businesses. A business needs to be profitable so if costs go up to run the business so does the cost of the items sold. What is funny is that trump was lowering the costs of everything and prices were down and the companies then turned around and gave raises to the employees. So people were making more money, the costs of items dropped and people seamed to hate him for it. They then voted in bidden and he did a ton of crap and the prices skyrocketed and people can't seem to put 2+2 together. FYI people you get what you get when you vote a business man in that knows how to run a business and you get what you get when you vote a politician in that doesn't know how to run a business and has the name sleepy joe and had handlers that tells him what to do and say. Whats funny is it wasn't even a surprise.
If you study economics you'll find that raising minimum wage contributes significantly to inflation. If you pay the ground workers more to stack food on the shelves, then you need to raise the prices of the food on those shelves. Most supermarkets profit 3.5 - 4%.
Our son, who has a decent job, just moved out at 39. He bought a home after years of frugality and saving. Why have kids if you're not going to be supportive and especially in this high cost of living economy.
Great parent. I am currently 19 going to college and staying home I hope I'm able to move out at 22 but I don't know with this economy
When I was in college in my late 20s, my mom started hassling me about giving her grandchildren. I didn't want kids anyway but I asked her how I supposed to support them with no husband and without going on welfare. She didn't have an answer for that.
Too bad most parents are nothing like you and judge their millennial kids for not owning a house yet even though they inherited theirs from their parents.
We dont have kids to support them we have kids so we can feel better about ourselves by constantly pointing out their short comings.
Also whats up with those participation trophies, why did those darn kids make that a thing?
ahhhhh.....The circle of life
Well, in the case of my Boomer parents, because they wanted little slaves to work for them the same way their parents worked them when they were young. They believe it is the way things should be.
We don't talk much.
What upsets me is the lucky few that do well off act like its everyone elses fault for doing poorly.
That’s not fair. Most people you think are the fortunate few struggled in their early years as well. I don’t fault for people for being “poor”. I fault people - myself included - for making bad choices. Buying a $1200 cell phone when a $500 one will do. Living off high interest credit. I get hit with those offers all the time. Throw them straight in the trash. Credit that comes looking you is not good credit.
Let’s note that there is a difference between being poor because your wages can’t keep up with expenses, and MAKING yourself poor because you want to live a lifestyle you can’t afford.
Don’t fkn call it luck. Call it hard work.
@Hiiiiiiiidbsh u realize theyre mot mutually exclusive right? Doesnt matter of u work hard or not u can be lucky if u work hard and are lucky youll atttribute all your luck to your hard work when a lot of it comes down to circumstances of your birth and the cinnections of your family
@@whenimmanicimgodly4228100% sorry if I came off harsh. A lot of success is luck, but a lot of it is hard work. Luck is great and all but most success is achieved through mostly hard work. It pisses me off how people hate on the rich just because they’re rich. They put the work in, started business, put all the risk in, many have committed suicide when their business fails. To not acknowledge that and then still feel entitled to their money is crazy. I’m not rich by any means, but instead of hating on them and trying to tax them to get my hands on their money, I’m trying to learn from them so I can become like them.
@@whenimmanicimgodly4228 You can overcome the circumstances of your birth if you want to.
There's a real "Fuck you, I got mine" mentality prevelant throughout this country.
Yep, and now the same people want to start a civil w*r and another w*r down south that's going to likely decimate our food supply and it's people at minimum . I'm tired of these lies.
Prevalent among Boomers you mean.
@Z1gguratVert1go Mostly, yeah. I see it in Gen X to a lesser extent too.
That’s a republic masked by capitalism
Definitely.
“Living paycheck to paycheck”
*my cars check engine light*
“Allow me to introduce myself” 👀
Just had to buy a new battery for our car and last month we had to replace a part on our HVAC. Now we are in the red. We have a very delicate budget and 2 big expenses back to back was something we could not afford.
"Check engine light? Nope, I didn't see that. Didn't happen..."
You can afford a car too after rent and food😮!? Lucky
Learn to work on your car, you'll save yourself a ton of money this way, and avoid getting ripped off by bad mechanics.
Buy a Honda or Toyota
The gap between your salary and cost of living in America is always changing! I made $7 an hour in the late 80s and felt like a rich person! I made $15 an hr in the 90s and bought a house! The system is just all greed now and the young people can't afford anything now a days!!!!
Its NEVER been about the amount per hour. its ALWAYS been about the value of that money. 25 cents an hour, barely over a century ago, was worth well over 20 dollars an hour now.
Inflation IS NOT NATURAL.
Inflation DOES NOT HAPPEN IN A FREE MARKET.
we had free market money for over 100 years in this country (1800ish to 1900ish) and inflation WAS NET ZERO PERCENT. So when someone says inflation is inevitable they're straight up lying!
Rent, groceries, and just basic expenses, $20 an hour doesn’t stretch very far anymore. I’ve got friends who are working two jobs just to make ends meet, and they’re still struggling to save anything
Yeah, I’m in the same boat. What’s frustrating is that even if you manage to save a bit, inflation just eats it up. It’s like you can’t get ahead, no matter how careful you are with your money
I get that. I've been thinking a lot about this too, and it seems like we need a new way of managing what we do have. A lot of people in our generation just keep putting off investing because they feel like they don’t have enough to start
I used to think that way, but I recently started paycheck investing. It’s all about setting aside even a small portion of your paycheck each month into your portfolio. It doesn’t feel like much at first, but over time, it can really add up
That’s the misconception. The key is consistency. I’ve been working with a financial advisor, Joseph Nick Cahill, for a while now.
He showed me that it’s not about how much you start with, but about building the habit. Even investing $50 or $100 per paycheck into a mix of stocks, bonds, or index funds can grow over time. It’s more about time in the market than timing the market
I remember being so confused in our middle school finance class
I was convinced I was doing something wrong because I just could not fit rent, gas, groceries, insurance, etc under a reasonable salary
its because your lazy, do 100hrs a week and you'll be able to do it.
@@malal6512 140 hrs a week 100 aint gon cut it mr.
@@malal6512 reject saftey, embrace servitude
@@malal6512 just the casual 20h day no biggie
😂@@malal6512
This is why I'm exposing my children to the idea of generational wealth and no rush to be living independently. Together we can achieve more than we could ever individually.
Generational wealth is leaving your kids property and money when you die. It is not keeping them dependent and living with you until they are 35.
@@tracimetcalf3374 it also doesn't start from no where... and it sounds like you jumped to conclusions there. I didn't say they would be dependant on me, there is a difference. Kids can live with their parents and be independent while building wealth to pass on.
Then you have yo do an absolutely amazing job or they'll not want to be close to you.
Generational wealth is great but only if the generations continue and stay close.
@@itsallperspective7415that's what a loving family means dumbass. You are supposed to be close.
@@itsallperspective7415 hence the idea. When they are adults they can make their own choices but I will not be forcing them out. People judging adults for "living with" their parents are part of the problem with these adults struggling. Why do 18 year Olds have to feel the pressure to get out and be financially independent and throw away 1/3 to 1/2 of their income to a stranger rather than build it up for a better future?
I heard someone say...
Is it any wonder why huge corporations are enjoying record breaking profits...?.
Question is...
What are we going to do about it...?
Oh, that's right...
We voted for huge corporations to run the country...!!!😊🤬
Big Corporate isn’t the issue. It’s government over spending and waste. If the government runs on a deficit, what does it have to do? It has to print more money in order to service that debt. Which of course lowers the purchasing power of the dollar, and affects low income earners the most. Do you know when gas was the lowest in the last 30 years? It was when our national deficit was paid off, and a surplus. Vote for politicians that believe in financial responsibility.
@joehenry9546
Brics is collectively trying to lower the Dollars value, and will probably succeed.
@joehenry9546 you should thank President Andrew Jackson if you're going to talk about paying off the national debt. Unfortunately that was in the 1800s 😅
@@ditchgator1 BRICS exists because of Biden. He placed sanctions on Russia in 2021, and this was Putin's way of getting around that.
Clinton did it also. @@gregoo03
Truth. My grandkids are struggling. One lives with us, pays no rent , but pays all his bills including groceries nothing left. It’s insane.
But people will hear that story and call him a deadbeat or a leech. Then will encourage you to kick him to the curb or you are coddling him.
@@SH1NK1R01if he’s older than 22 he’s definitely being coddled. No way is he working 40 hour a week and making 20$ a hour and still being broke when he’s not even paying rent. Unless he drives a really expensive car and his insurance then idk why he’s running out of $ if rent isn’t a problem hahahaha. He should have a couple bands saved easily if he doesn’t pay rent and works a full time 18-20$ job lololol and that’s coming from a dude that’s 25 and seen it all
@@FuriousGerbil5 this right here is the problem. You are so bad at math you cant even fathom how a person could be broke at 20$ an hour. You are even convinced you have seen it all at 25. You have very clearly seen nothing but convinced yourself of eveything. Whatever helps you feel good about yourself has nothing to do with reality. While you pretend people are being coddled the nation continues to suffocate. You wont accept reality until it comes for you. And everyone will point and laugh.
@FuriousGerbil5 If you're making comments like this you've absolutely not "seen it all" then because everyone's circumstances (and culture) are different.
@@FuriousGerbil5case in point
I don't understand why older generations don't get how expensive just living is right now.
Older generations do understand. They themselves have to go to food pantries just to survive. An 80-year-old that I know either walks or takes the bus and can only make partial payments for her electric & water bills. She has to work still just to survive.
I am an older generation - a much hated Boomer- and I certainly do understand and see how outrageously expensive everything is, and keeps on getting even more so, month after month.
I am not living in the past, or enclosed in a bubble.
Don’t generalize.
@Lourdes-A. Over 3/4 of your generation votes to make it worse, it's not a generalization it's recorded fact
It's likely because they are no longer actively looking for places to live. I don't think that older people tend to move around a whole lot. The last time I moved was when I was 9 and I still live in the same town and I'm 26. Once my parents bought that house there wasn't much need to move around after that. Now that my brother and I have moved out, they are fixing the home up to make it theirs.
I don't know what their plans are, but there's a good chance they won't be moving again any time soon.
Those are my Gen X parents. They haven't had to look for a new home/place to rent in almost 20 years. Scale that up to the folks in the previous generation and those are people that haven't needed to look for a place to rent in 40+ years. The only numbers that concern them are housing prices.
Also, at that point they've saved, and had careers and don't worry about the fact that people nowadays are getting practically nothing for raises. There's no such thing as a career really.
The company I work at hit record numbers last year. Our raise was at most eighty cents based on performance. So not everyone got that even.
That eighty cents doesn't cover the increased cost of anything else that also went up. Half of my raise goes to the extra 600 dollars (at the end of the year) I spend on rent now. Not including utilities and food.
The biggest thing is that the people in the boomer generation had companies that took care of them more or less. Good raises, benefits, etc. coupled with the fact that the price of goods was low. Nowadays we've got inflation, shrinkflation, etc. and the cost is passed onto the consumer. That's why companies keep hitting record profits every quarter every year. They aren't having to pay for any additional fees from anywhere. The kicker? When those fees come down, the price of goods stays the same.
Well, they aren’t house shopping, having kids, going to school, their homes value is through the roof, their stocks at an all time high, and no mortgage. This is why. At least for the ones that didn’t totally screw up their lives financially at some point.
They think $20 an hour is a lot because they could afford a $35k house 40 years ago on a $5 per hour wage. They don't realize an average home costs $350k now which is ten times more than they paid while average wages are only 2-4 times higher. 🤦♂️
Boomers complain that millennials/Gen Z don’t wanna work when the average home back then costed a couple blueberries. Let’s not forget social security will run out by 2035
@@agustinjr.enriquez6238labor stats show we work more hours than they did, and have a lower unemployment rate than they ever did. Where are they getting this, no one wants to work thing from? Their imagination? People are working. In fact, more people are working more hours than the boomers ever did, and they still call us lazy. They're not intelligent people.
The sad part is the geezers are the majority when voting all these other geezers in. Boomers continue to destroy our country.
No, they are just greedy and indifferent. Especially people who live in The Red states They spew the same talking points about pulling yourself up by your bootstraps all this nonsense.
Some of them were even gifted land and property from their parents. They are so out of touch with the things that we struggle with. I don't even bother trying to explain.
What about Gen X?@@agustinjr.enriquez6238
I'm stuck at $14 for a long time. Trying to get $20 job is really hard because most of them are fake/ghost jobs or no wages only 100% commission-based.
dude. the ghost/fake jobs are so HEARTBREAKING
Yep the only jobs that respond pay 15 or less
your not looking hard enough. Janitors at highschools make more!
And it only gets worse. I'm on disability. I get 954$/month to live on. I get 91$ in food stamps, which does not cover enough food to survive on. I have to pay rent, a cell phone, internet, vet bills for my service dog (and her daily care expenses like food, gear that gets used up, training materials), and also pay for medications that Medicaid/Medicare still don't cover. I am on average left with less than 50$ after bills and before food. I literally can't afford to live, on disability, due to the prices of today's necessities.
Food stamps gave me about $18 a month. I make about $50 more per week than is required solely to pay my bills. It's insulting to me as a person, so much so that I don't even use it. It's less effort for me to do an odd job for someone in my church every now and then to make $20-$40, than it is to upkeep government assistance.
We have all these plans designed to take care of people, that in most cases, are just doing the opposite.
You should look into food banks in your area. Service animals can have a HSA used on them for vet visits also. Look into both. I ran a food bank for years, it really helps.
Most of that assistance money is going to illegal immigrants. I'm all for helping others, but our own should get fed first and then do what we can with what is left over. I know we don't have great choices, but be very careful who you all vote for. One side may keep our heads above water while the other is pushing us towards soup lines again 😢
@@kbenn153I’m trying to understand how “illegal immigrants” are getting assistance when if they are illegal they don’t have a social security number. They get deported, how do I know because I’ve worked in Federal courtrooms for 20 years and once in ICE custody they do their time and get immediately deported when their time is up. To make money, they would have to work under the table.
That’s why many expats are going to another countries and living with US salary…
Wait, who’s getting paid $20 an hour? I want to get paid $20 an hour!
Going to a community college and getting a decent cert in a few months will get you $20/hr. Apprenticeships too.
Community college?? I had to get a bachelor's degree and I'm half-way through a master's with 5 years experience and I'm JUST NOW making $20/hour. @@Dinkle-h3v
@@Dinkle-h3vApprenticeships are v over saturated rn and will maybe hire 2-4 apprentices a year? If that.
I'm making 18.75 as a first year teacher. There's a huge teacher shortage right now.
$20 was the average pay for paramedics in like 2017. That's the US national average. They still look at fast food and weigh whether they want to quit.
This doesn't even take into account that full time jobs are getting rarer and rarer by the day.
Yup. Most places only give you 36-38 hours a week because if you're a full time employee they have to pay for your health insurance. Or they'll make you manager and put you on a fixed salary which then requires you to work 60-80 hours a week for $28k... We need a nationwide workers solidarity strike. I bet we could change a lot in 2 weeks. Stock up on rice and beans. We can and already do survive on that already. The rich however can't. We're stronger than them and WE pay THEIR bills...not the other way around as they'd have us believe. 💪
Liberal Party USA! 🇺🇸 🦬
-housing affordability addressing SUPPLY (not making houses more expensive via demand incentives)
-strong economy and job market
-student loan crisis and tuition cost
-social security reform so we and the next generations can retire with dignity
-no fascism or socialism; only smart fiscal policy and respecting individual liberties
@@schuylergeery-zink1923
I'm Canadian and but the issues are similar, bringing back an industrial economy would serve to mend plenty of the issues along with getting rid of the minimum wage as they just increase the cost of labour, the main thing with housing is just supply and demand coupled with conpani s like BlackRock buying the homes it should honestly be illegal to rent out a home in my opinion apartment buildings are fine but not family homes.
Edit also preventing women from working would bring up the cost of labour more naturally, mind you that can't be done without dealing with the many crisis that it involves, if that was done for example student loans for women would have to be forgiven and many men would have to straighten up their act.
@@ZERO_O7X 35 hrs a week is considered full time
The ironic thing is that one of the biggest reasons full time jobs are disappearing is because people keep demanding more money.
$100 per month for gas? I live in CA. I pay $100 every time I turn the fucking key.
For real
Lmao, seriously.
Yeah, some of his numbers are a bit...off. Some too high, some too low. I started off 25 some years ago on my own. Maybe then you could skate by with $100 a month in gas, I think? I know I worked A LOT to make it on my own, even then, along with full time university.
I make 63k a year and only bring home 3400 a month. This country needs tax reform.
Yeah the math sounds good on paper, but some states tax the hell out of people. The more you earn the more you pay. It's sad.
I pay 200k in taxes per year here in Europe and the government has a 80% environmental tax on gasoline….
You can opt out of federal withholding. Just make sure to use the extra money to make reliable investments so that when tax season comes, you're able to flip the bill with a little extra left over.
@@auggieeasteregg2150I wouldn't be investing tax money. If there is a major crash the irs doesn't give a shit about your returns not working out when you were investing money owed on taxes.
15$ here. I don't get anything 💀
I despise the world's greed.
That's exactly the reason for this.
I'm currently researching the pre-Industrial Revolution commonality of "two sleeps" or biphasic sleep. This is the normal way but, due to the greed that started then and persists, it was socially engineered into one long nightly sleep, which is against nature.
Aaaand thus, so many physical and mental health problems...
✡️
I got mine! 😂🎉
Gen X here. I was just explaining this very thing to my mother the other day! I make 48,600 per year in Va. but am having a hard time saving for retirement. My gen Z 22 year old son still lives at home and can’t afford to get his own place. Times are hard especially if you’re the only one paying the bills (single). The cost of living doesn’t match the current wages.
So your kids has a job and is saving most of their money, I hope. If not, then I question what kind of behavior is being tolerated.
8 years ago the apartment I live in cost $800 a month now it's more than double that.
Greed is Ageless.
You forgot one thing, that they don’t give you a full 40 hours a week, it’s actually $2200 a month.
I make 20 an hour, somehow I still manage to stay ahead and save money and buy things I want, granted I also almost always have some sort of side work I'm doing for extra money, ik it's tough y'all but it's doable,
rent-750 which I will say is definitely cheap
200 a month for smokes
400 a month for gas
300 a month for food
100-150 for utilitys
90 for car insurance
60 for phone
Also I'm 23 and I do it all myself I'm not one of those lucky gen x that got themselves a house back when a person could afford one
@@jonathonsaavedra843 Well based on what you listed, you're not paying off student loans, not paying off your car, and apparently you spend nothing on personal care (I.G. Hygeine, haircuts, etc.). So yeah, if you have multiple monthly expenses you don't have to pay, it tends to save you some money. Not to mention of course that you even admit you're paying cheap rent, extremely cheap I'll say, when rent is the single largest expense for most people, that shouldn't be brushed off.
I hate that profile picture
@@jonathonsaavedra843 90 for insurance and 50 for phone please lmk what world you’re from cause mine is $500 and $100 never had a ticket or anything
@@jonathonsaavedra843because 20 an hour is so much money my DAD makes less then that
Something has got to give eventually. In the early 2000s, the homes near where i grew up were 150k. Those same homes are now 20 years older and cost 900k. Thats nearly an 800% increase. No job earnings went up 800%. Im not sure if the USA is headed for a crash or a USSR type collapse. I blame our lawmakers who are bribed (lobbyed) by industry to allow us Americans to get screwed over this bad. Imagine spending trillions on wars while everything at home is a mess.
It seems clear we will either see a wave of unionization and corporate regulations and policy to expand the housing supply OR we're going to see violence used to quell unrest which will necessitate fascism instead of democracy.
Atlanta❤
My boy that is not 800% lol.
@@akanicolerocks711correct, it’s 600%.
They are hoarding money to control population growth.. which made sense to me until they opened the border up... Now I think they need to find some decent people who are struggling and help raise them up before we lose all of our values, collectively.
I make $24/hour and i can NEVER save any money nor spend anything on myself. It's absolutely MISERABLE! 😤
SAME
Can you work a second job? Live with parents or roommates? Get a documented skill that will increase your pay? Also, how old are you?
@aishanjgirl07 Unfortunately, i can't work a second job because I have a lot of mental issues, so one full-time job is all I can do. And I can't move into a job that's more stressful than what I'm already doing for that very reason. And I'm 29 years old and I'm still living with my mom and sister, but only because my Mom can't support herself and my sister without my financial help. 😮💨
@@devanshouse5027 tough situation, I wasn’t trying to judge you but a lot of people
I am 65 yo and I agree with your assessment 100%. It’s painful to watch and see it happening to my own kids and I help where and when I can. Imagine some areas the minimum wage is only now $15/hr or even less. Corruption, greed, tariffs and mass deportations, reductions to Medicare/Medicaid/Social Security are only going to make it so much worse. In DT’s admin it it will be run by billionaires/CEOs and heartless wanna be oligarchs; they won’t give a damn as long as their decisions don’t impact them personally. His less educated supporters will be blindsided the most. Hopefully the rest of us will be banding together. Buying in bulk and other cost cutting/sharing ideas to get us through the next 4 years. 🤞🏽we can put up some safe guards in two years when we vote again.
To be fair immigrants are meant to keep wages low. That why politicians pushed for so many
Forget the American Dream this is the American nightmare.
All by design
Keep voting democrat lol
@@jamescrawford5567 😆
Liberal Party USA! 🇺🇸 🦬
-housing affordability addressing SUPPLY (not making houses more expensive via demand incentives)
-strong economy and job market
-student loan crisis and tuition cost
-social security reform so we and the next generations can retire with dignity
@@jamescrawford5567 It will all trickle down eventually just have to keep waiting it surely won't keep getting worse.
Insanity is doing the same thing over and over expecting a different result. You sir sound very insane expecting to get something other than scraps from the hand that beats you.
I make 20 an hour and have no debt and still live paycheck to paycheck.....😢
Think a lot of it depends on where you live and who you are. I make $24 an hour and end up with about $1500 extra per month.
However I wish I bought a house 4 years ago rather than rent because prices went up enough to make me sick but I know I will still be fine. (Just sucks knowing what would have been a $500 payment is now $1300 housing here isn’t as bad as it seems many other places are as that’s a 3 bedroom 2 bath 2000 square foot)
That's crazy you pay rent alone ? Cuz where I live 24 dollars an hour would barley pay your bills and gas and food lmao having 100 or 200 bucks for things you want instead of needing is a privilege around here @@treymiller5736
The reason why this is the Biden administration.
I make 17 an hour and have debt as well as a barely running car that i don't have money to fix bare minimum of food each month and a whole load of medical problems that i cant get looked at bc i don't have the money to spare for treatment and i live paycheck to paycheck waiting for death and that's only recently i was making 15 earlier 3 months ago and 13 near the start of the year
Sounds like you need to crawl up the asses of your state legislature, city council and county commissioners to lower taxes.
This is not just a Gen Z issue. No One can survive on $20 to $30 per hour today. Just because we are not Gen Z doesn't mean we make more $ per hour. Other than single out a generation, I agree with the cost assessment.
Minimum wage is meant for teenagers. Not grown adults. What is a 30 year old doing at McDonald’s ?
@@MinecraftKid120
Min wage was literally established as a living wage by President FDR. It was literally addressed in the speech that signed it into law. I believe it was the 1933 NIRA speech.
He straight up said a living wage is not one where you are barely getting by and that any business that survives on paying their employees less than that doesn't deserve to be in America.
@@MinecraftKid120 that isn't what minimum wage was for
@MinecraftKid120 I work at arbys. And own a mobile homes so try that.
You can live comfortable on 20-30 and hour easily
I didn't become financially independent until I was in my late 30's, and I'm still in my 30's. In addition to having purchased my second home and earning 63k on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realise that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
How can one find a verifiable financial specialist? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Mr Gary Mason Brooks is the licensed advisor I use.
If there were much cheaper but low quality apts available, people would be flocking to them. But old and new buildings alike charge the same damn rates.
because the low-cost ones are being given to illegals and 'refugees' (note: refugee means fleeing widespread violence that you can not escape within your own country, not escaping financial crisis). So, that leaves nothing for the Ameicans who are working, and paying the taxes for those governemnt handouts.
Rent and housing seems outrageous in the usa, no question, but do you really *have* to spend so much on everything else? Groceries? Car payments? Phone, insurance, .. seems all pretty high and more importantly, mostly unnecessary / luxury goods.
Edit: Im from germany btw, before im getting accused of being a usa boomer^^
Nah. Lmao that’s what it costs.
Most of its actually low. Avg cat payment is closer to 700 phone generally double (anything on lower end bit good enough to use for a decent job). 2000 won't cover rent and utilities in alot of areas would consider someone lucky to get an apartment I. That price range. Also depending on area some require your 4x rent to qualify so they wouldn't be getting one anyway even if they could somehow scrap by.
@@Yamyatos you can't see a doctor without insurance, unless you are rich. Insurance is also necessary if you drive a car. Which you need to use to get around in most if the country. You need a phone amd therefore internet access to do everything from paying your bills to applying for jobs.
We have no real way to save money. Most of us don't make that much of it.
This is not living, this is surviving. There is a huge difference and that is not addressed in this video.
He just described overspending as the minimum.
Imo he did address that by saying people barely live at $20 an hour
No health insurance, no fun, no savings, pay check to check, those are all things he said
He also said some of the costs are below average
I think that gets the point across unless I'm missing something
surviving in luxury. We act like its so bad and oh no we work 40 hrs a week to put a roof over our head, food in our bellly, a bed to sleep in, clothes on our back, and the occasional vacation. Now while it could always be better people who work in America are automatically in the 1% of the world so were doing more than survivng. Tribes in the congo are surviving.
@Moollen no he described underspending as the minimum.
@@Moollen Except that "overspending" is all shit you literally need
$300 for a car payment? That is EXTREMELY conservative, almost unrealistic! The lowest I’ve seen in years as someone who works in the car business is ~$400-500
I'm literally moving out of the country. But I WILL help the community around me wherever I live by creating jobs for locals. I don't want to keep creating such a vicious cycle in this world.
Man all these people talking about California and New York and shit. I live in Alabama in a house with 4 roommates. My rent is literally 400 bucks a month, I cook for nearly every meal, almost never eat out. If i went down to eating nothing but potatoes and whatever vegetables I could get on sale, it'd still cost me $1100 a month to live (with 4 roommates). I'm lucky my job pays decently well just out of college, but as it stands now I won't be able to buy a house anywhere near anywhere I could get a job, even on 29/hr. God forbid I want kids in the next few years.
Y'all really out here with no empathy for your fellow Americans. We have a cost of living crisis and you say "make more money, get out of the city, lol". Wages, adjusted for COL, have not changed since the 80s, and the wealth inequality gap has only gotten bigger and bigger. Thats the fundamental issue. People should be able to buy a house, or at least put away money for safety on an average wage without having to skimp and scrounge.
We live in the richest and most powerful country in the world yet our quality of life is shit compared to most countries in Europe.
It wasn't this bad before the Harris VP.... remember that in November. She created this problem, and now people think she's going to fix it?
Preach!
Cost of living crisis=recession
@@Strangelove657 no, it's corporate greed. Keeping wages for their workers low while raising prices despite making record profits. Pair that with insane housing prices caused by private investors buying up properties all over the country and you have seriously inflated home prices and median salaries too low to feasibly purchase one.
Who are y'all talking about, even old people are broke. Everyone is Broke
Making 30 an hour wfh at 29 living with my parents. I paid off my degrees a year after graduation and now I’m just saving for a big down payment like 50-60% on a nice condo and driving a reliable beater around. It’s the only way to get ahead. I workout, game, play guitar in my free time; pretty inexpensive. Living off Whole Foods is like 100 bucks a week. I feel like an overgrown teenager but at the same time I better off than most adults. Plus I get to help my parents out and not sweat it. Could be worse, I’m definitely lucky for my parents
I love how nobody is here in the comments telling you « oh wow what a loser » why would you not move out in your early 20’s and suffer like me…
Because some still have this mentality
Same here man
You have great parents. The day I got my first full time job, my dad wanted to charge me rent on top of me watch his sick mother during the day.
Wow are we twins?? Cuz same here, I pay rent at home but still cheaper than an apt plus it helps my parents. But also wondering where I could buy a small condo someday
Just curious, what do you do for work? Is it in line with the degrees you acquired?
And the fact that fast foods and retail stores are paying $13/hour and intending to lower it to $11.50 is CRAZZYYYY
I make 9.50 where I live.. :/
So let raise the pay so everything else goes up in price
You do realize that the more they pay their workers the more they have to charge right? Grocery stores make an average of 2% profit.
@@melvinkeller1466 nope, not how that works. Inflation does not have a directly proportional relationship with wages. Don’t get your information from the people running your pockets
God bless Europe because I make 3.90$ an hour and can live decently.
Gen X here. Nothing wrong with the math, all the basic needs are met. So it's a struggle. It's supposed to be a struggle. I remember having $22 a week to eat on in my mid 20s. Ramen, peanut butter & jelly and water were my best friends. Once a month I treated myself to a large double pepperoni pizza $10! I actually look back on the experience very fondly.
So you struggle for a little while, it will definitely motivate you to do more, better, faster.
Pro tip for any young people out there. Save up for a 10-12k car while in high school/college. Pay in cash for a used reliable gas efficient car. Not having a car payment leaves so much more room. Best thing you could ever save for when you’re young.
While its a nice thought most workers are already scraping by and dont even have money to save up for a used car
@@1RiverCat In high school most peoples parents are taking care of their bills. I get that some people can’t but middle class kids absolutely can.
@@sgracem2863 yeah the middle class doesnt exist anymore buddy. Youre talking about a false premise
@@1RiverCat “68% of young adults under 25 receive financial help from their parents.
Pew Research Center. “(2023). Young adults’ financial independence and reliance on parents. Pew Research Center.
During this time which has freed up some of your paycheck you put towards saving. I’m sorry if your parents were poor
The car dies and then what?
That’s bold to assume we’re even getting $20/hr
Right my bf only makes $16 an hr works 8-8.5 hrs 5 days a week 3rd shift and I am on SSI and I only get $940 A MONTH and I try to doordash when I feel good enough we get help from the VA and we get food stamps but we are still having to have my grandma give us money to help pay bills and afford necessities. We have to move next month but can't even afford to apply to places cuz they charge an application fee. I'm 27 with no kids he's 34 with one kid that he pays child support to we have no life outside of work and staying home we can't do anything fun we can't make memories together cuz we are too broke...
@@Aj_LeighI'm on ssi too and studying for IT cert and my gf works at costco at near 22 an hr it's wild out here
@@Aj_Leigh 16.55$/h is the new minimum wage in Canada, check the minimum wage of where your at and confront them on that. People have put up jobs for less than minimum wage postings, postings without mentioned pay, and more sketchy things.
Generally keep a lookout before you look for a hiring place.
@@hello_there3718 I am in Michigan min wage is 10$/hr unfortunately
@hello_there3718 Was. Minimum wage is $17.30 in Canada now as of April.
As a milennial who bought a double wide in 2017, with a paid off car, 3 yr old phone, and fifteen minute commute, all I got to say is good luck yall. Even I'm barely making it
I'm considering getting a manufactured home. Is it worth it? Any tips?
NPR just came out with an article that 60% of Americans are living paycheck to paycheck. That instantly depressed me.
Thank you for breaking this down. It's exhausting trying to explain this to everyone who thinks they know everything
He didn’t break down anything, he just showed that averages don’t mean much when discussing individual circumstances. He also proved the boomer right because those averages represent over consumption in and of themselves
@@BadMannerKoreaexactly just got a car payment for 216 way cheaper then 300 lol but for real tho this economy sucks.
@@thatarmwrestler cheaper for a used car doesn't remove the reality of cars becoming more expensive
@@VeerVKrishna ah yes, of course, I can just PICK the job I want, why didn't I do that instead of turning in 367 applications only to get two callbacks and one interview? You're either willfully ignorant, or a rich kid living off daddy's money.
@@thebrandunsafeone7184 You’re right that the economy isn’t nearly as good as it was during Trump, and loads of people have had to pay the price.
I’m not sure what field you’re working in, but I am sure there are certain job that will always have openings, and as of now there are 7.4 million labor jobs available in the US, while there are only 6.1 million people unemployed.
Now, if Mr Trump wins, there will be more jobs in every industry (like there were in his last term), and the price of goods and services will be drastically lower.
Older people are so out of touch! CEO pay has skyrocketed over 1000% since 1980. But yet minimum wage is $7.25. Nutts!
Yeah and all older people are CEO’s. Use your brain.
@@Snackery24 a good percentage of older people make excuses for CEOs. They vote against the interests of the working class because Reagan and his CEO cronies have tricked them into thinking rich people aren't out to destroy this country and all those working inside it. Quit voting for conservatives and you won't get lumped in with the monsters ruining this once great nation.
@@Snackery24 older folk (gen x and older) were able to buy housing well before the market became as royally fucked as it is currently and just dismiss the reality of the situation.
Stfu about CEO pay. Government spending brought us here.
@@adamo36532 lol no. I don't work for the government. The math is pretty simple here bud. The company I work for made a certain amount of money. The CEO is keeping 1000% of what he used to. He doesn't have to. He could give that to me. Are you afraid of your boss? Do you just find him to be a better man than you? What is it?
$500 a month for groceries is a luxury
16 dollars a day or 5 dollars a meal is a luxury?
@@wolves600 for me it is
@@wolves600Don’t mind them. They failed general history math and being a normal human. They probably didn’t even have a normal education, just a right wing ideology of some fantasy of how the world works because they are rich.
i agree, groceries about 250 or 300 if i wanna have luxury @goldenorbstudios
@@wolves600 lol i spend way less on food a month, i go sundays and wedensedays without eating. Trust it is a luxury.
YOUR SO RIGHT...
I DON'T KNOW HOW ANYBODY CAN RENT NOW A DAYS!!!
OWNERS THAT RENT ARE
GREEDY !!!!!
CORPORATE COMPANIES ARE ALSO GREEDY!!!!!!
EVER SINCE COVID.....
THIS IS WHAT HAS HAPPEN!!!!
NO REASON FOR RENT OR FOOD OR ETC. TO BE SO EXPENSIVE!!!!
JUST GREEDY!!!!!!!
As a care giver I make way less but give 100% care to all who need care...
Start working the corner for big girl bucks
Where do you work cuz I made 20$ as a caregiver with only 1 yr experience 😭😭
And most of the jobs in my county are offering 16 an hour, even with experience. And the rent is 2,300...how are we all supposed to do this?
Yea, there's no shortage of jobs that require a master's degree that pay 45k. I'm making that example specifically.
Move? I did that when I couldn't get a job.
@@kneecie7then you have a stupid degree. I'm making double that and I only graduated highschool.
@@neverstopschweikingthen you made a poor Choice and/or are a poor candidate. We left California for the mid west and I was able to find a job with a competitor paying 15% more. I may have grown up in a trailer park but I wanted a better life and I found it.
Don't go somewhere where rent is 2,300??? If nobody will pay that amount they will be forced to go cheaper with prices. There are apartment complexs all over the country for people who need help, and with those, though they aren't the best, you can live with only having to pay water/electric bills. Which goes up around 200-300 dollars a month.
That generation is the FIRST to complain about inflation but then try to act like the newer generations have it as easy as they did.
The gaslighting is real with them
As a Gen z the boomers call me "greedy" at work and home when I make a pathetic ass household next to them working hard investing it while in college madly saying "I'm rich and I should give back to poor people, no invest money" all I get is comi Germany 😂
Honestly… I think we need to stop with the generational hate.
Our parents and grandparents and great grabdparents probably had things rough as well.
Otherwise our families would be well off.
Right?
(Assuming they didnt have 3+ kids which.. doesnt help typically.)
People that have lots of kids generally leaves the kids poor.
@@XFizzlepop-Berrytwistyou lived under a rock hadn’t you?
@@RickRorose
What are you talking about?
Our Grandparents and great grandparents were in multiple wars in history, WW1, WW2, Korean Wars, Nam.
Thats not easy for families of the time, the soldiers, or economics.
Our parents then lived in times recovering from years of wars.
And that’s without kids. Without medical bills. Not counting any money for extra stuff around the house you need or if something breaks like a phone etc. not counting if you simply want to attend one concert per year or buy your mother something for Mother’s Day. God forbid. This is simply just someone who works no stop. Never misses a day. Never buys a gift. Never breaks anything. Never has any unfortunate circumstances happen that cost them money etc. it’s just not doable. $20 an hour is no longer a sufficient living wage yet here we are still fighting for $15. Where I live the minimum wage is $7.45. When I was 16 a decade ago it was $7.25. That means that in a decade the wage hast even gone up a single dollar. Yet, in that same decade rent, gas, food, etc all cost double and sometimes triple the price a decade ago. Absurd.
This is the reason I don't own a car, and moved in walking distance from work. That's $600 right there.
This guy gets it.
Sure, but not everyone can do that. Not everyone can live close to where they are able to find a job
@antoniokehoe2363 every scenario is unique. This is just mine.
Sucks, but the auto industry bought up a lot of public transport just to shut it down and force people to buy cars... just like women's clothes avoid pockets so they can sell purses. Honestly it is all rigged, and we are forced to figure out ways to make ends meet. This is just how it works for me.
@antoniokehoe2363 if everyone could do that we would have solved the climate change problem and homelessness. I'm just saying what works for me on a similar pay scale. I'd hope if anyone had a widespread solution, they'd come forward with it. Frankly this nation needs it asap.
@@antoniokehoe2363You commute. Owning a car is a luxury.
The cost of living has spiked, even in just the past few years since covid. I remember getting my first 2 bedroom apartment for $950/mo. and it was on the upper end of the area I was in. Now I couldn't find a studio for less than $1500/mo. in that same area. Thank goodness I bought my house just before the cost of buying one skyrocketed.
I pay $975 for a single bedroom apartment that is tiny and at the moment has roaches
@@sickmanatee3839bruh
I can't find a studio under 2k in Colorado. Kill me.
Bidenomics
I tell my parents this, and they always just say “you just need to work harder then, we worked hard and now look at us!” I’m just like…*sigh* they really will never understand. It’s an entirely different game.
America was sold on the idea that of you work hard you'll achieve your goals. That's not true anymore. That was true when Americans had high purchasing power. We don't anymore.
@@xXtuscanator22Xx If I were you parents I would fill immense disappointment in you by the fact that you have the time to complain on TH-cam but no time or initiative to better your life.
I worked 84 hr weeks from 16-35... that's how I got ahead...24 hours in a day not 8... some people get this some people cry!!
@@justinfantastic4882 I'm sure you were a great slave grandpa. Good for you.
@@justinfantastic4882 At least try to make up a believable lie lol
Old folks don’t get it, and talk shit like we all got the same hand dealt to us.
Dear Boomers,
Sell your homes to Gen Z for what you bought it for.
Can we get this comment on national television? A continuous ad from 10-5 plus jeopardy?
@@jesb3973 I'm here for it.
Hell, I'd take 3x what they paid
@ineedmondayoff are you willing to go back and work for the wages they made when they bought there house where the wage 1.15 an hour I'm 43 I remember my first job I made 3.85 an hour and after high school I didn't go to college I worked 2 jobs and lived way below my means had 2 roommates I didn't party I saved and invested and now I'm in position to retire early because of the sacrifices I made we didn't have it easier we literally worked our asses off and those people who were out partying and everything else well they aren't doing well financially either it's completely up to each person to decide how they are going to turn out
Don’t worry they’ll just be forced to give them to illegals while you gen Z citizens are homeless.
I have an apartment for $600 a month. I eat rice and chicken for most meals. I am alone and live on a $15/hr check. I still save a few hundred dollars a month. It's not impossible, it's just BRUTALLY hard. I think I'm successfully staying within my budget simply because I like money more than having fun.
Yeah, this video doesn't really account for the fact you CAN survive on less if you're willing to make further concessions which sucks.
Definitely recommend the younger generations focus more on trade school rather than college. Too many degrees just often don't justify the expense.
Yeah but sadly its still barely getting by, if an emergency happens, or say you have an elderly or disabled family member to take care of… things seem impossible.
Say you have a medical emergency?
Heck even if you dont have anything bad happen to you, or only minor bad things, how the heck are we supposed to afford having a family? Retirement?
It’ll take probably 2 million or more in the future to have a decent retirement, that seems impossible.
Contributing to a Roth IRA, hitting max contribution is 7,000, most people cant even make that contribution.
Doing 7,000 a year will be the minimum you need to have to also be able to retire okayishly.
After 40 years of that you might hit a bit over a mil, maybe 1 mil and a half if lucky.
(8,000$ if over age 50.)
@@XFizzlepop-Berrytwist Can't count on social security so a Roth IRA is the bare minimum you'll need. May as well contribute what you can to non-Roth accounts also.
where do you live where you can get an apartment for 600?
Yup I’ve been trying not to eat too much as to not finish up my groceries too fast because I just bought $227 of access codes for two of my courses that I need to get my assignments done I only have $38 left for the next two weeks since I get paid biweekly and it’s $13.50 an hour it’s also hard to be working and studying at the same time because apart from that I have other responsibilities I have to spend a lot of time on I barely get time to rest it’s so draining
Wages have remained stagnant since the 1960s yet inflation has increased by over 1000% literally….
Not really when I was 16 my first job at Hardee's paid me $4.75 an hr...I'm 63 have NEVER MADE $20 an hour! I worked 2-3 jobs, Everything I own has paid for in cash and I owe nobody nothing! $ 150 for gas??? Where the hell are you driving???
Government overspending really screws us
@@mikec2012 especially the four years trump was in there! 🥴🇺🇲💙🇺🇲💙
@catherinewhitman8333 your the people that need to understand what gen z is going through what do you not get 16 to 30 yrs today cannot afford anything on $20hr this is fact.
@@catherinewhitman8333 when you were born gas was literally 31¢ a gallon. When you were 16 so in 1977 gas was 59¢ a gallon. You were getting paid $4.75/hr.
Minimum wage 47 years later is 7.25/hr and gas cost today on average is 3.50 a gallon.
Now we could also look at property values and the cost of living… the median price for a house in 1977 was 48k. Today its 412k….
Do i need to continue?
Me and my fiancé are living off of $16/hr. Just one income. We’ve got pets, too. Our rent is around $1,200, we spend around $450 on groceries, our monthly animal budget is around $150, and our monthly bills probably rack up to around $200. And forget trying to take our animals to the vet, cause that’s out of budget and we don’t want to go into debt. It really is difficult. I wouldn’t recommend living like this for anyone.
I'm sorry for laughing but ending that with "I wouldn't recommend living like this for anyone" had me rolling. Perfectly dry understatement, even if you didn't mean to.
The fact that 40000 turns to 2750 and we still don’t have free college or healthcare
Technically, 40,000 turns into 33,000.
You're comparing yearly totals to monthly totals.
40k is ~3,333/month. Taxes eat a chunk of that, leaving you with ~2,750/month, or 33k/year
I wish you the best of luck, and i hope the US recovers! 🇧🇻 💙 🇺🇲
Well, it's because of the cars and insanely expensive highways infrastructure cost, and so the subsidies of oil prices and lobbies of car manufacturers and also lobby of insurance companies that rip everyone off and here you have it.
Overpriced everything, useless spendings on cars and gas (I'm 31 and it makes no sense for me to buy a car as public transport is top notch and I can bike to 85% of places in 15-25 minutes, because cities are designed for it, not for cars) and miserable life for all, while getting twice as much as an average European.
European gets less, but actually that includes some savings (he does pension payments by default) and health insurance, and free education 26 days of working days of a vacation a year, also holidays and about 4-5 extra days in case he has kids.
Not to mention that he can also get sick and will still get 80% of the salary if he never show up for month or more.
And that's in Poland that is far from being a wellfare country. For just around 25-30% of taxes you pay on your salary.
It's funny how people don't understand the biggest chunk of your taxes off a paycheck goes to terribly run social programs while still wanting 'free healthcare' that will take way more of your taxes
go live in Texas then.
GenX... I work a 9-5 job, I have 3 different side hustles, live on the bare minimum (no cable, Internet, no health insurance, and on a limited budget for food)
And still get denied for a house loan because I don't make enough
(Edit) (For the ones that already left a comment)
My ex-wife took everything in the divorce. she filed for child support (her and state never contacted me).
So after 7 years of back child support, basically starting over from nothing. Yes it's hard to earn what I used to have.
My child support is paid off. Yes my credit is in good standing.
Sounds like you didn't invest your time getting a better job at the best time to do so.
Wait a second........
Big city moment
Are you over extended on your credit? That would explain a lot.
I live in Idaho, Single income family making 23.50 /hr. 1534 mortgage payment. 2 cars, Cable TV and internet, heath insurance, streaming services, monthly car wash and 400 going to my retirement.
It can be done. But not if you have a huge amounts of debt. Credit cards, personal loans etc.
This is 100% accurate That's why my 29-year-old still lives at home because he has no one else to move in with.
Don't feel bad I was making 57.35 an hr and lived at home till 32 bought a home when the rates dropped during COVID don't feel bad man they are ur folks they want to help just throw them some money for food or do something around the house and tell them thank you
29 years old and at home sad😂😂😂😂😂
@@ironnjsure 😂😂😂😂
I plan on living with my parents until I can afford a trailer. Unfortunately most people don’t want their home to be on wheels
Yeah blame your son and not this fucked economy and rich white guys like this lying to the poor to keep us from rising up
Older generations don’t understand that money today isn’t worth the money of their generation. Rent or mortgage is over double what they likely paid, and so is everything else. 80k a year goes really fast when rent is 2500 a month plus utilities and that’s just rent. Groceries, transportation, healthcare, etc for a family of 4 makes 80k feel like 0k…
Remember folks. One dollar today is worth 23x LESS than one dollar in 1932
Thank your democrat politicians who have controlled this country 12 out the last 16 years, funny how the 4 years they weren’t in power everything was great and affordable 😂
LOL, why stop at 1932? That dollar was worth $19.37 in 1885. And what's the point, we don't live in those times.
@ that was the year of the Great Depression.
I feel like lifestyle is reverting back in America. I grew up in India where kids live with parents. There is no concept of getting your own place.
I never knew weekend concept until I migrated here.
I went to school and studied. Hung out with my friends in neighborhood. Saturday and Sunday were for catching up on school homework and help mom dad out with house chores.
Thank you for this down to earth response. There are so many people out here saying it isn't possible. What they're neglecting to admit is they're doing it all wrong. They want freedom, convenience, and extra money. Most people all around the world don't have the luxuries someone in a minimum wage job has here and they can't even see how good they actually have it.
@ it is possible, but people need to be willing to compromise and sacrifice. Sadly, many are raised with unrealistic expectations. You work with what you have. My grandmother who had 5 kids to raise when her husband passed away, told my mom , “ do not envy what others have, do not compare yourself with others, live within your means and be thankful for what you have.” My mom at times had just one meal a day. She studied and got her Masters degree. She sacrificed her weekends to study. Didn’t go watch a movie, ate at home, and didn’t indulge in unnecessary shopping.
She raised us with same values and now my siblings and I are successful.
please stop being generous with cost breakdowns. Giving the ave is better imo. No one cares about the lucky person who was fortunate enough to find a deal.
I was lucky 🍀 many Gen X who bought in their 20s was able to buy cheap.
Honest question as a german tho, is 500 for groceries really realistic? That seems way out of proportion for a single person to me. I pay like half that a month? Some of the other stuff seems a bit high aswell. Like, why buy an expensive car where you have to pay 300 bucks a month in payments and 150 in insurance.. if you can just not have a fancy car as a status symbol (which really shouldnt be a priority) and buy something used for a total of a couple thousand bucks (got mine for 1.5k€) which will also drastically reduce insurance / tax on the car (400€ a year here). That's nearly 450 bucks saved a month, plus presumably some on groceries. Not sure why cost on the phone is so high either. Like, is it really that common to buy stuff on payment plans in the usa? We just buy a decent phone out of pocket and then only replace it once it's gone here.. zero phone payments aswell, other than a couple euro for flatrates (in my case literally 2€ a month).
What im getting at is.. that while i dont know specific prices, im pretty sure you could actually save A LOT of money by simply caring less about status symbols, like fancy cars or always having the new phone. Very same lifestyle. Potentially hundreds of bucks a month saved. Will you be able to afford a house because of that? Nah, our generation is screwed, usa especially, in that regard. But saving money is always a good thing, no?
@@Yamyatos those figures are for a used car. Your estimated car prices are multiple times cheaper than what you find here in the US
@@SticklsOfDoom Those arent estimated, but what i paid. I wasnt claiming that prices are the same in the us. We arent talking about just used cars. Used old cars. Like 1990-2005 old. I just checked some offers for cars in the usa and found many good looking ones in the 3-4k$ range, with some a bit more shabby obes around the 1-2k$ mark. Shabby but definitely working, that's what im talking about.
Checking insurance.. it's actually kinda expensive in the usa, but you can go as cheap as 50 bucks a month apparantly.
Depends, obviously. But needless to say, cheaper cars equal cheaper insurance.
Correct me if im wrong, but a 300$ a month payment is for a car more in the mid 10-15k range, no?
Which, in my books, is literally paid solely for status reasons. Thus unnecessary.
@@Yamyatos I buy for me and wife and spend about 300 a month using coupons and discount grocers. His number are most likely in most expensive area of us.
Thank you for this video! 😌🙏🏽❤️
150$ insurance 😂
50 $ cell phones 😂
Those numbers are from 2005😅
Deadass in ny with a clean record you paying like $400 a month unless u been driving for 10+ years
Spectrum mobile is 29.99. cheapest studio is 289 most expensive in my complex is 325 but they have 2 bedrooms for 500. 8 vacancies and all utilities are paid. It's Northern Wisconsin so there's a lot of snow but you get used to it.
I'm just sick of people complaining. It doesn't matter how much people complain. Doesn't make things better.
@@ilrbn 400 a month sounds about right. Cheap car.
@anklebiter9116 If those rent numbers are real is either you live in Gangland or you can call Bigfoot your neighbor.
Clean record, driving 10 + years ,I'm still at 600 a mounth .
As Gen Z, sorry, I was never offered $20/hour… $13/hour is the highest I’ve encountered so far
what shitty state are you living in?
my own mother who i legally work for wont pay me 15 dollars i had to file shit to the state
Where? McDonald's?
Do you vote blue ?
Do you have any skills that are worth more than $20/hr?
Its is way more expensive today to get started in life in comparison to when I did it in 1989. Everything costs more and there are more basic expenses. So unfair not to consider this. $300 for a sytudent loan payment is ridiculous. You'll never finish paying that loan
i pay $350
That's just interest
The cost of college is ridiculous, but it’s not impossible to pay it off. I’ve heard plenty of stories of college graduates with more than 100k in debt be able to pay it off and even retire before 65. It’s actually pretty easy if you make around 60k annually. Most college grads make more than that anyway.
I live in the middle of *SILICON VALLEY*, and just moved across town. 1 bedroom apartments for ~$1700 a month were plentiful.
If you are living in a place where you *can't* find an apartment for $2000, you're *definitely* living in a city with good enough public transit that a car is *not* a necessity. Get a bike to bridge any gaps in transit coverage, and use that to skip the gym bill while you're at it. So that's another ~$700/mo savings.
Sincerely, someone who did pretty much exactly this for his 20s.
(but yes, paying the 1BR premium is dumb anyways, get a 2BR and a flatmate. Share a room, ideally, but even I gave up on that quick after my third snorer in a row).
Ive been parroting your videos to my boss and it feels like I'm the old man on the lawn yelling at clouds and Its making me feel crazy.
Liberal Party USA! 🇺🇸 🦬
-housing affordability addressing SUPPLY (not making houses more expensive via demand incentives)
-strong economy and job market
-student loan crisis and tuition cost
-social security reform so we and the next generations can retire with dignity
-no fascism or socialism; only smart fiscal policy and respecting individual liberties
@@schuylergeery-zink1923social security is socialism. Privatize it like Sweden did and your good.
I’m making 92k with overtime and here in jersey honestly I wouldn’t be where I’m at without my parents. I lived with them till I finished school & even after I got my first job after college I still was living with them. It costs so much to do things by yourself
Anyone living with parents should be saving money as much as possible SAVE, SAVE, SAVE! this is how you get a huge down payment for your first home. I can't tell you how important it is to take advantage of getting to live rent free for a couple of years. YOU MUST NOT GET LAZY & BLOW ALL YOUR EXTRA MONEY. One day you will be mad at yourself for wasting this opportunity. It makes all the difference to be able to buy your own modest home early in life. That home can supplement your income in retirement. Please don't blow your opportunity to start accumulating wealth when you are young.
@@ScottsdaleSushi I have my own place, just looking back at how I wouldn’t be able to be where I am at without my parents help.
@@ScottsdaleSushinot relevant to the comment and who asked
Thats because you live in a state with some of the highest property taxes. If you lived in Ohio, South Carolina, Iowa, and several others, you could buy a home with that 92k.
30 is the new 20 an hour ive been saying this now this just proved it to me with actual math.....
Problem is everything goes up when they set 30/hr as the starting pay, so his video won't be relevent for long
And the people that are making 30 an hour are not going to go up to45 an hour you destroy the middle class more and more with every minimum wage jump
@@davidjackson7698 exactly. Doesn't matter what it is. It might as well be $100/hr because nothing is preventing the prices going up with the labor going up. Are we so naive that we think businesses can stay in business by constantly taking hits financially?
@davidjackson7698 giving the
bottom of the barrel, a survivable wage isn't the cause of the middle class not getting a bump. The middle class already hasn't gotten a bump and it's the companies they work for that haven't given it to them already. Unionize and rip you fair share from their fat, greedy fingers by force if you want to save the middle class.
I'm not saying start at 30 just let's say in a trade field let the apprentice after a bit make 30 journeyman like like over 30 to maybe 40 then the master make like 45 to 50.
Let’s jump bro
Bud, this speaks to me as someone making about $30-$35 an hour outside the USA. My country is ripping us off currently and I worry for the generations beyond mine
20 an hour won't let you live comfortably.
Depends on where you live. If you live in a city or a somewhere where living expenses are ridiculous then yeah 20/hour isn’t livable. In my state I make 15/ hour. I can pay my mortgage (4 bed 2 bath 2000 sq ft house on a half acre lot) and bills alone if necessary. I’m married though so yeah combined we clear it easily. But the fact is I could do it by myself. People just live in expensive places and work at McDonald’s or Walmart and wonder why they are able to live like kings.
@CurtTheRed that's what I'm saying! People work at a Starbucks in New York city and wonder why they can't afford the top floor penthouse. I'm guessing you live in the midwest or Texas cause that's where I'm at and I can live comfortably in an apartment by myself and have plenty left over to save. Also finding a partner and settling down early isn't soemthing many people do anymore. It's cool that you wanna be a doctor and travel the word and start your career before settling down but it's not cool when you're 40 years old and swimming in debt up to your eyeballs
If you have a car that you pay $300 monthly payment for and don't consider it comfortable luxury, you are either spoiled, or stupid.
@@neverstopschweikingexactly. My 2017 Jetta NEW cost me 340 a month for 7 years. That was the first new car I ever bought and I was 27 at the time.
The entitlement is ridiculous. You want a car? You buy a 2010 Toyota for 3000 bucks is what you do. That shit will last for 400k km if you do the bare minimum of maintenance.
@@Sanxioned1 For a new car for economically active person who can afford it, a new Jetta is a reasonable thing, those payments are acceptable. I never owned a new car, but I bought a minivan for $3500 two years ago, which I saved for and paid cash, also using the $1500 from selling the previous car... which I owned for 4 years and which I bought for $1600. In both cases, those cars are more luxurious than I need, if it were for me and not for the family, I would own something much cheaper.
Working 60 to 70 hours a week and still barely able to save. It's so defeating and frustrating, and hopeless
Maybe look in the mirror and realize you voted for this.
There is no way in this world you are using your money right then, my family of 5 is living off of 18k a year, and we are very comfortable.
@@VadulTharysI WISH the increase of the cost of living happened in 4 years! That would make it sooooo much easier to fix! Unfortunately, this has been an issue long in the making. It's easy enough to research the history of the costs of living and compare that to the changes in minimum wage. One increased significantly over several decades and the other changed by $5-10.
@@Hoppypoppy21 in the last 4 years there has been a 50% increase in the cost of living. Again 16 of the last 20 years one party has had power and if you look between 2017 and 2020 there was a 5% real wage growth in the US. From 2000 to 2016 there was a 3% real wage growth from 1990-2008 after that there has been a -12% real wage growth until 2017. From 2020 - current there has been a -30% real wage growth mean actual wages increases are far outstripped by inflation. The real wage growth in the 1990s and early 2000s were tied to Clinton's actions reducing regulations, expanding markets in Asia and the housing market bubble. This worked great until the bubble burst n 2008.
As for minimum waged are you aware that it is a racist policy meant to keep Blacks poor and or unemployed? Learn the history of it. Before minimum wage laws were introduced the income gap in the US was small after Minimum wage laws were introduced it started skyrocketing because it gave companies the ability to dictate to workers what they got paid versus the workers dictating.
If your young stay with your parents as long as possible and invest everything you can in the stock market. Don't buy stupid meme stocks. Buy quality large cap companies or invest in etfs like QQQ, SPY, SCHD, JEPQ, or JEPI. Research and pick whatever lines up with your risk tolerance. Once you have 100k put away working for you, then go out and live on your own. Try not to remove anything from your investments until you're ready to retire. Put the majority in a regular brokerage account because you'll be all set to retire long before you reach 59 1/2. Also, put some in a Roth IRA for after you turn 60.
Underrated comment
Nope. Buy gold and emerging market stocks. The West is done.
To be fair, I think the older generations are increasingly realizing how much vastly harder it is these days for the younger generations on COL.
Sad it took them this long. More and more rungs are getting sawed off the economic ladder, its gonna affect us all eventually.
@@jer1776VIVA LA REVOLUCION BABY
except its not, life today is easier then it was back then.
THANK YOU! I just came back from the grocery store, JUST bought 30 items….$202 bucks. WITH $12 OF JUST TAX!!! I didn’t even buy milk, eggs, or meat.
You aren't being smart with your money then. Your pricing average would have had to be around $6 per item. That is insane, but makes sense as most main brands are around that price now a days. You can get the same items for cheaper prices by just looking for deals, finding store brands, and also paying attention to how much everything is. Also how many of those items did you actually NEED? That's something that you need to ask yourself, I know that every know and then my family likes to go and get some snacks and stuff, but if it's needed we could drop getting snacks and only have actual food. That would cut down our Grocery bills by like 30-40 dollars easily.
What exactly did you buy?
Thanks for laying out the numbers like this. Makes me realize it's not just me or something wrong with me. Keep up the good work!
Well in reality these numbers are pretty inflated sorry to burst your bubble lol. Well unless you live in Cali or NY then I'm sorry about your luck
Boomer is right. Your expenses included things you don't need.
In Australia $20/hr is slave labour
Or minor wages
We also have the highest inflation
if something doesn't change that 20$ will be nothing in couple years
In Sweden, $20/hr is a good pay, it's a shame you need $40/hr to have a good life.
I live on $2K a month. And if it weren't for me renting a place for $600 in the middle of f'n nowhere, I'd not survive.
And here's the kicker, you're poor here if you're not making minimum $40'000 a year. Especially since most rents are at $2K or more.
$20 Australian dollarydoos, or $20 US dollars?
If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
Same here, I believe the Bitcoin ETFs will be life changing opportunity with my current portfolio of 132k made from my investments with my personal financial advisor I totally agree with you
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
How can I get in touch with Maria Williams ? What are her offerings?
She's always active on whats~appp..
She’s very active on whats-apk
40/hr is tough with a family
Yes it is. Especially with bills.
@@musclecar62 you don't think about it . But a weekend costs like 200 dollars. I can't go to the grocery store without spending 100 bucks.. gas is a 50 dollar pull up minimum. Everything is absolutely depressing. And it takes everything in my to not break down in front of my wife and children
in my area $40/hr would only cover daycare for 2 kids after taxes.
@@crzycolchris and it wasn't nearly this bad before the Harris VP. She helped create this problem (covering costs of illegals and theft is expensive!), so don't entrust her to 'fix' it. Elections matter - vote on policy, not on gender or party.
@@markcalhoun8219 we decided mom would stay home.. she's been homeschooling
Groceries are way too high for a single person, come on. On that budget, they could almost eat out every day and save money. Averages are stupid here, clearly the average person overspends. I have a family of 5, yes 5 people, and our groceries cost $400 a month. That's $100 per week. On a per person basis, that's $20/week. I buy flour, eggs, milk, cheese, fruits, vegetables, pastas, rice, beans, meats, and some other basics, and we cook. What i dont buy is preprepared meals that you just pop in the microwave or oven. Those are as good as, and as expensive as eating out.
My husband and I are absurdly lucky that our rent is 700
I was like: OW. That is a LOT of taxes. 40000 to 2750 is a bit much.
Monthly post tax dude.
You are not paying $7k in taxes when you make $40k unless you live in a really high tax state. Also, come to nebraska, Iowa, south dakota, etc. You'll make 20/hour and your rent is $800/month for a 1 bedroom solo.
Lol in most states, $800 a month wont even get you a shitbox studio.
Yeah the phrasing was funny xD
It's 40k a year, so 3.3k a month, 850 taxed and 2750 left, which is 26% tax.
$20 is like $10 now, at best
I've never made $20/hr. NEVER