I’m a banker, trust me a majority of people are drowning in debt. Don’t compare yourself to others because a majority of people are just trying to put on a show to impress.
So many people carry over balances and just pay minimums. It’s super normalized. I find debt stressful personally and love to help others get out of debt.
@@zackhenderson4423 thank you! I tell my kids, you don’t know what debt they have or where they got their money, it’s none of our business, focus on yourself and stop comparing your life to others.
This is super relatable. And great point about tradeoffs. We have a lot of relatives who make more money overall than we do. But they make a lot of sacrifices in terms of their time & energy. We have prioritized flexibility, free time, and reduced stress instead of trying to drastically increase our household income.
But of course, that means making decisions like having a smaller older home with limited space for our kids. We will definitely have to get creative on how to utilize the space better when they get older, but for now it's working okay.
I also prioritize flexibility and reduced stress which sometimes means less income but I know myself and my values so it works for me! And I'm also similar with the smaller home now... we are obviously saving to eventually move but having such low housing costs really helps us now.
@@PenniesNotPerfection yeah we're hoping to do the same! Do you have any videos that explain the correct way to save for a down payment if you want to move in 4-6 years? I was confused about whether to keep that in an HYSA or maybe keep part of it in a CD ladder so we can take advantage of current interest rates before they drop.
Just seeing someone with nice things: house, cars, clothes, tells you nothing about how in debt they are, if their credit cards are maxed out, how much they have in savings, investments, 401K. Looking at material possessions, it can all be an illusion.
Just because someone has nice things that to me doesn’t make them rich. They may have just used a credit card for everything. True wealth is when you have zero debt and you buy things in cash! :)
One thing to keep in mind is some people may have more money and flashy things but they may have a terrible marriage or a job they hate. Money isn’t our only identity in this life!
That person that has that Mercedes you like: they put $0 down and they’re paying $700/mo plus 23% interest on an 84 month term and they’re living paycheck to paycheck. Middle class people who appear to be doing “better” through material possessions are actually not doing well at all because they’ve fallen victim to hugely manipulative corporate marketing. Honestly, if you want a luxury car and you can’t buy it in cash, or you can’t keep the payments below 10% of your income and don’t have good credit, you can’t afford it and you shouldn’t buy it. People are literally renting out studios in LA that look like private jets so you can take a picture and your friends think you actually flew in a private jet. Unbelievably sad.
Priorities are so important and most clips just say "the Jones are broke" but in reality they might pay cash but like a vacation more than name brand mayonnaise. Thank you for talking about this.
I love the message in the last few minutes: being at peace where you are and defining your actual endpoint really puts everything beyond that into the right perspective.
So funny the trade off example of the couple that is always traveling is myself and my spouse. We drive an 8 and 12 year old car and don’t eat out often at home. We also are dual income and don’t have children. This makes a huge difference. Travel is our money dial.
Love this video!!!! It sometimes can be frustrating seeing other around you look more successful than you, especially when you are focused on paying off debt. I learned a while ago that looks can be deceiving. I now only focus on my goals and I am happy with my situation.
All my life I've strived to be the best that I can be and to achieve the best results possible. Now, I'm continuing that goal and journey - I'm giving my all to being the best bum that I can be.... finding new, exhaustive ways of doing nothing, achieving less and just bumming around. Having done this for two years now, I find that I'm the happiest that I've ever been and being a bum is the best lifestyle of all. 🙂
Growing up, my dad always said, “things are not always as they seem.” Really helped me be aware of when I start comparing myself to others. It’s a very helpful way to save, preserve wealth, and actually focus on the things you love and not what you think others will envy/appreciare.
I grew up dirt poor so I never understood why people go broke trying to impress strangers that you might never see again. I live in a I bedroom apt, drive a 2015 Honda civic, and dress like Adam Sandler. Yes I can buy that 1 million dollar house cash and drive a hell cat, but I don’t
There are 8 forms of capital. We tend to lose sight of that if we only focus one piece of the pie. Contentment is another factor. Coveting never ends well.
This is really good. I think one additional group of people are those who do make a lot of money but choose not to buy flashy things or share their travels on social media. Learning what their values are can help keep you in check with your own as your income does increase.
Great point! I have friends that make a lot of money and do really cool things with that money but you’d never know because they don’t share it publicly. And some people earn a lot but just don’t like to spend.
I've been binge watching all of your videos and have been learning so much from you. I really want to open an HYSA Banking and savings account and just finished watching both your Ally and Capital One reviews I was wondering which you would think would be the best to use or start with?
Both are great options and honestly very similar. I think Ally is a little more user friendly in the interface and setting up savings and spending goals. So I’d probably give them a slight edge for that… but I personally love Capital One and have had better customer service there. Basically, you can’t go wrong with either one!
Or it could be that they bought the house for a very low interest rates and at a good deal. My parents bought the house before covid and we are thankful for that decision. Now the same houses have crossed a half million dollar in value. So if you see a nice house it doesn’t mean they are rich. We are also living pay check to paycheck. Some people just got lucky. Now rent prices and mortgage prices are same. But the interest rates are higher unfortunately. As someone said in the comments section. This is a silent depression. I am shocked that no one is raising their voices. This year Costco already started with Christmas decorations etc in the month of August ? Even before Halloween. Something makes you think ?
Definitely the situation for many with housing.... it's true for us. We have more disposable income because we bought at a low rate with a low price. Housing very much affects how much people have and appear to have.
I was just talking with coworkers this past week and one makes about $18 less per hour, but her take home pay was about the same. NET. I was shocked. Then we talked about our deductions and she only contributes the company match of 2%, I have one retirement plan contribution 10% and the other 8%. I have over 100k more in retirement than them. I’m saving for my future while they are living for today
You are not sure if you will live up to your retirement. If I were you, save the money yourself in the bank rather doing those deductions. And you can enjoy of that money while you are young. Just my opinion. I will look into this option. I haven’t thought about it or paid attention to it. But it sounds like a good idea to reduce the deductions and save that money on your own.
There are a lot of people not contributing to retirement at all from my experience. It's hard to talk people into making those contributions and seeing their paycheck drop. But when the time comes and they need that money it will be a rough situation. Living for today works until tomorrow comes.
@@Idkjk971 thanks for the advice, but I’m not struggling. I’m not living paycheck to paycheck and the compounding interest and growth over the past years has been substantial. Sure I may not live til retirement but what if I do? I should burden my kids with my irresponsible spending? I’m fine with not having a car payment or buying luxury material items. I still vacation a few times a year and I’m comfortable with that. I’m also not considered young anymore
My wife and I earn over 200k in NC. But it seems like everyone is living a better life than us, nicer cars, nicer vacations etc. But I know the math doesn't work when I know what they do for a living.
I have come to the point in my life where I want to simplify life not make more complex and I want less stress not more. Having no debt and a paid off mortgage, a decent emergency fund and not just talking about investing but actually doing it is more exciting to me than buying some expensive toy or vacation at the expense of our retirement security. I don't know why it is, but I seem to be a person that others want to share their financial situation with me and more times than not what I hear is a lot of debt and a little savings.
SAME! I'm all about making life less stressful which is why I'm all about paying off debt and living with less payments. I think you hear about people with lots of debt and little savings because that is the most common situation for people.
This never made sense to me when we were paying off debt and not maxing our 401Ks but now that we have a little bit of money in savings and investments, we are buying small quantities of Gold and Silver. Not as an investment but rather as a place to store money in addition to our HYSA. One of my co-workers found out about it and gave me a tongue lashing because he thought it was a terrible investment even though I made it clear it wasn't. This guy has 100s of thousands of dollars of debt, mortgage, HELOC, car payments and credit cards and he is trying to advise me on personal finance. He tries to make me feel bad about our commuter car which is a semi-hoopty. But I don't care because I have FU money and he doesn't!
I notice that, people up the street with a new BMW i35 i think and a nice new f150, and i drive a 2012 mazda3. but i have no debt and house is paid for.
The simplest answer is typically the right one. You feel others have way more than you because they really do. Focus on things you can change, not what other people have.
It's not that some people have more money than you, they use more CREDIT than you. And are more than likely in more DEBT than you. More and bigger STUFF does not define happiness, or even success. Especially when you're going into debt to perpetuate that "lifestyle."
Yeah for sure on the trafe offs. I have live like I was poor for the last 15 years. I have a nice house but atill dont pay for home internet. Someday Ill get it, just not yet.
@@PenniesNotPerfection My sister and her husband live down the street from us and think my wife and I are “wasteful in our spending”. I hear this quite a bit from other family members. She thinks my family income is similar to hers and I don’t have the heart to tell her that my wife and I invest more money every year than her and her husband gross, even with our cars, trips, and dining out. Point being, there is no way of really knowing what other people make, so why bother judging them?
Very true, and personally I wouldn’t tell them. Nothing good usually comes from that. But comparison (and judging) is human nature for most people unfortunately.
Be honest…..where do you finance bloggers buy your material? I’ve literally seen this EXACT same title in last 3 months no fewer than 10x. AND…literally, your post is word for word. Jesus
I don’t think anyone buys material. I don’t. Generally creators see an idea that’s interesting and remake it their own way. Each is slightly different but there is also only so much you can say about some finance topics. Unfortunately titles that work get reused because… they work. You’ve seen it that many times and still clicked on it, right? It’s actually a new tactic for me using titles everyone else uses…but clearly it works. I’ve made videos for five+ years on financial topics in unique ways no one else was doing… and it’s a struggle to get people to watch. People like to watch variations of what they’ve already watched. TH-cam viewers are interesting like that. Thanks for watching though!
Does it seem like everyone have more money than you? It definitely feels like it sometimes!
I’m a banker, trust me a majority of people are drowning in debt. Don’t compare yourself to others because a majority of people are just trying to put on a show to impress.
So many people carry over balances and just pay minimums. It’s super normalized. I find debt stressful personally and love to help others get out of debt.
@@zackhenderson4423 thank you! I tell my kids, you don’t know what debt they have or where they got their money, it’s none of our business, focus on yourself and stop comparing your life to others.
Comparing yourself to others will steal your joy
💯
Its a human nature 😢
I always compare myself to others who are less fortunate.
When I see so many people buying pools, new trucks,etc I always say, I dont want their debt or monthly payments
I’m with you on not adding a bunch of monthly payments!
Trudat!
My mom would always say "comparison is the theft of joy"
A very true statement yet as humans we naturally compare ourselves. It’s a hard habit to break!
This is super relatable. And great point about tradeoffs. We have a lot of relatives who make more money overall than we do. But they make a lot of sacrifices in terms of their time & energy. We have prioritized flexibility, free time, and reduced stress instead of trying to drastically increase our household income.
But of course, that means making decisions like having a smaller older home with limited space for our kids. We will definitely have to get creative on how to utilize the space better when they get older, but for now it's working okay.
I also prioritize flexibility and reduced stress which sometimes means less income but I know myself and my values so it works for me! And I'm also similar with the smaller home now... we are obviously saving to eventually move but having such low housing costs really helps us now.
@@PenniesNotPerfection yeah we're hoping to do the same! Do you have any videos that explain the correct way to save for a down payment if you want to move in 4-6 years? I was confused about whether to keep that in an HYSA or maybe keep part of it in a CD ladder so we can take advantage of current interest rates before they drop.
I don’t currently but I’ll work on a video!
Just seeing someone with nice things: house, cars, clothes, tells you nothing about how in debt they are, if their credit cards are maxed out, how much they have in savings, investments, 401K. Looking at material possessions, it can all be an illusion.
It can be for some people for sure!
Just because someone has nice things that to me doesn’t make them rich. They may have just used a credit card for everything. True wealth is when you have zero debt and you buy things in cash! :)
Definitely agree. I’m a huge fan of living without debt!
One thing to keep in mind is some people may have more money and flashy things but they may have a terrible marriage or a job they hate. Money isn’t our only identity in this life!
Definitely!!! Great reminder.
That person that has that Mercedes you like: they put $0 down and they’re paying $700/mo plus 23% interest on an 84 month term and they’re living paycheck to paycheck. Middle class people who appear to be doing “better” through material possessions are actually not doing well at all because they’ve fallen victim to hugely manipulative corporate marketing. Honestly, if you want a luxury car and you can’t buy it in cash, or you can’t keep the payments below 10% of your income and don’t have good credit, you can’t afford it and you shouldn’t buy it. People are literally renting out studios in LA that look like private jets so you can take a picture and your friends think you actually flew in a private jet. Unbelievably sad.
You are right on some of those car loans... the terms people agree to are insanely bad.
Priorities are so important and most clips just say "the Jones are broke" but in reality they might pay cash but like a vacation more than name brand mayonnaise. Thank you for talking about this.
Exactly! Everyone has different priorities for their money.
I love the message in the last few minutes: being at peace where you are and defining your actual endpoint really puts everything beyond that into the right perspective.
Glad you watched to the end and agree!! 🩷
So funny the trade off example of the couple that is always traveling is myself and my spouse. We drive an 8 and 12 year old car and don’t eat out often at home. We also are dual income and don’t have children. This makes a huge difference. Travel is our money dial.
You are a great example of this!
I only compare myself to the old me.
The best way to do it!
When you are young, everyone has more money than you. If you learn and grow, you eventually have more money than everyone.
Love this video!!!! It sometimes can be frustrating seeing other around you look more successful than you, especially when you are focused on paying off debt. I learned a while ago that looks can be deceiving. I now only focus on my goals and I am happy with my situation.
So true!
It’s the old saying “keeping up with the Jones” . Instead I choose my joy .
Great choice!
All my life I've strived to be the best that I can be and to achieve the best results possible. Now, I'm continuing that goal and journey - I'm giving my all to being the best bum that I can be.... finding new, exhaustive ways of doing nothing, achieving less and just bumming around. Having done this for two years now, I find that I'm the happiest that I've ever been and being a bum is the best lifestyle of all. 🙂
Growing up, my dad always said, “things are not always as they seem.” Really helped me be aware of when I start comparing myself to others. It’s a very helpful way to save, preserve wealth, and actually focus on the things you love and not what you think others will envy/appreciare.
Great thing to remember! Sounds like your dad did a good job setting you up for the real world.
I grew up dirt poor so I never understood why people go broke trying to impress strangers that you might never see again. I live in a I bedroom apt, drive a 2015 Honda civic, and dress like Adam Sandler. Yes I can buy that 1 million dollar house cash and drive a hell cat, but I don’t
Sounds like you’ve found what works for you!
Great video, Mary! Things always look better on the other side.
Always!
There are 8 forms of capital. We tend to lose sight of that if we only focus one piece of the pie. Contentment is another factor. Coveting never ends well.
So true about contentment and coveting… finding happiness in what you have is so important!
"The greatest wealth is to live CONTENT with little"- Plato -
Great quote!
When a car buying customer gets a lease, they get fleeced.
This is really good. I think one additional group of people are those who do make a lot of money but choose not to buy flashy things or share their travels on social media. Learning what their values are can help keep you in check with your own as your income does increase.
Great point! I have friends that make a lot of money and do really cool things with that money but you’d never know because they don’t share it publicly. And some people earn a lot but just don’t like to spend.
Excellent video!
Thank you very much!
I've been binge watching all of your videos and have been learning so much from you. I really want to open an HYSA Banking and savings account and just finished watching both your Ally and Capital One reviews I was wondering which you would think would be the best to use or start with?
Both are great options and honestly very similar. I think Ally is a little more user friendly in the interface and setting up savings and spending goals. So I’d probably give them a slight edge for that… but I personally love Capital One and have had better customer service there. Basically, you can’t go wrong with either one!
Awesome video!! So many truths. 🙌
Thank you!
Great video❤
Thank you!!
Or it could be that they bought the house for a very low interest rates and at a good deal. My parents bought the house before covid and we are thankful for that decision. Now the same houses have crossed a half million dollar in value. So if you see a nice house it doesn’t mean they are rich. We are also living pay check to paycheck. Some people just got lucky. Now rent prices and mortgage prices are same. But the interest rates are higher unfortunately. As someone said in the comments section. This is a silent depression. I am shocked that no one is raising their voices. This year Costco already started with Christmas decorations etc in the month of August ? Even before Halloween. Something makes you think ?
Definitely the situation for many with housing.... it's true for us. We have more disposable income because we bought at a low rate with a low price. Housing very much affects how much people have and appear to have.
Great video, thank you for sharing .
Thanks for watching!
Comparison is the thief of joy
I'm only struggling because i Need a place of my own.
I hope you get it!
You nailed this video, Mary!!
Thanks Katie!
In 21, I negoiated a lease for a lower monthly payment then purchased it in cash for 6k less than it was worth last Saturday. Timing I guess.
Good job!
Very Accurate
I was just talking with coworkers this past week and one makes about $18 less per hour, but her take home pay was about the same. NET. I was shocked. Then we talked about our deductions and she only contributes the company match of 2%, I have one retirement plan contribution 10% and the other 8%. I have over 100k more in retirement than them. I’m saving for my future while they are living for today
You are not sure if you will live up to your retirement. If I were you, save the money yourself in the bank rather doing those deductions. And you can enjoy of that money while you are young. Just my opinion. I will look into this option. I haven’t thought about it or paid attention to it. But it sounds like a good idea to reduce the deductions and save that money on your own.
There are a lot of people not contributing to retirement at all from my experience. It's hard to talk people into making those contributions and seeing their paycheck drop. But when the time comes and they need that money it will be a rough situation. Living for today works until tomorrow comes.
@@Idkjk971 thanks for the advice, but I’m not struggling. I’m not living paycheck to paycheck and the compounding interest and growth over the past years has been substantial. Sure I may not live til retirement but what if I do? I should burden my kids with my irresponsible spending? I’m fine with not having a car payment or buying luxury material items. I still vacation a few times a year and I’m comfortable with that. I’m also not considered young anymore
My wife and I earn over 200k in NC. But it seems like everyone is living a better life than us, nicer cars, nicer vacations etc. But I know the math doesn't work when I know what they do for a living.
This is a very common feeling people are sharing in my comments over the last year.
I have come to the point in my life where I want to simplify life not make more complex and I want less stress not more. Having no debt and a paid off mortgage, a decent emergency fund and not just talking about investing but actually doing it is more exciting to me than buying some expensive toy or vacation at the expense of our retirement security. I don't know why it is, but I seem to be a person that others want to share their financial situation with me and more times than not what I hear is a lot of debt and a little savings.
SAME! I'm all about making life less stressful which is why I'm all about paying off debt and living with less payments. I think you hear about people with lots of debt and little savings because that is the most common situation for people.
This never made sense to me when we were paying off debt and not maxing our 401Ks but now that we have a little bit of money in savings and investments, we are buying small quantities of Gold and Silver. Not as an investment but rather as a place to store money in addition to our HYSA. One of my co-workers found out about it and gave me a tongue lashing because he thought it was a terrible investment even though I made it clear it wasn't. This guy has 100s of thousands of dollars of debt, mortgage, HELOC, car payments and credit cards and he is trying to advise me on personal finance. He tries to make me feel bad about our commuter car which is a semi-hoopty. But I don't care because I have FU money and he doesn't!
Such a great video!
Thank you!!
I notice that, people up the street with a new BMW i35 i think and a nice new f150, and i drive a 2012 mazda3. but i have no debt and house is paid for.
Mazda3s are nice! And having no payments at all? Sounds even nicer to me!
The simplest answer is typically the right one. You feel others have way more than you because they really do. Focus on things you can change, not what other people have.
Definitely! Like I said there is always someone to compare to that has more than you. Even if you make millions you can compare to the billionaires.
It's not that some people have more money than you, they use more CREDIT than you. And are more than likely in more DEBT than you. More and bigger STUFF does not define happiness, or even success. Especially when you're going into debt to perpetuate that "lifestyle."
I don’t care what people drive, I only care about the assets they own.
Very good mindset!
Yeah for sure on the trafe offs. I have live like I was poor for the last 15 years. I have a nice house but atill dont pay for home internet. Someday Ill get it, just not yet.
Good video
Thanks for watching!
Robbing Peter to pay Paul
Very common
People don’t take time to think 💭
I bought a $ 2,200 leather sofa 🛋️ for $ 400.
Store going out of business
Wait for opportunities
People are Stupid 😂
Sounds like you got a good deal!
Everyone on the expressway has a 90k suv. A tahoe or bmw. What the hecht is going on.
It’s way more common! But the average car payment has gone up a lot in the last few years and many people pay $700-$1,000.
Wealth creation is a personal journey, do not compare.
Agree! Comparison rarely ever helps.
People are buying on credit, you do not...
Credit is definitely used often by some
I can sum up the answer to the title of this video: Lies
That's the answer to the title.
There are unfortunately plenty of people lying to look more impressive!
Or…consider the fact that a lot of them actually have waaaayyy more money than you do! 😂
That’s definitely a reason in some cases!
@@PenniesNotPerfection My sister and her husband live down the street from us and think my wife and I are “wasteful in our spending”. I hear this quite a bit from other family members. She thinks my family income is similar to hers and I don’t have the heart to tell her that my wife and I invest more money every year than her and her husband gross, even with our cars, trips, and dining out. Point being, there is no way of really knowing what other people make, so why bother judging them?
Very true, and personally I wouldn’t tell them. Nothing good usually comes from that.
But comparison (and judging) is human nature for most people unfortunately.
Be honest…..where do you finance bloggers buy your material? I’ve literally seen this EXACT same title in last 3 months no fewer than 10x. AND…literally, your post is word for word. Jesus
I don’t think anyone buys material. I don’t. Generally creators see an idea that’s interesting and remake it their own way. Each is slightly different but there is also only so much you can say about some finance topics.
Unfortunately titles that work get reused because… they work. You’ve seen it that many times and still clicked on it, right?
It’s actually a new tactic for me using titles everyone else uses…but clearly it works. I’ve made videos for five+ years on financial topics in unique ways no one else was doing… and it’s a struggle to get people to watch. People like to watch variations of what they’ve already watched. TH-cam viewers are interesting like that.
Thanks for watching though!