This may be a new series on my channel tentatively called Big Money Big Feelings: all about big financial decisions and the big feelings surrounding them. A laid-back, conversational series. So if you want more videos like this: be sure to like this video and subscribe to see more budgeting content. Thanks for watching🙂 Intro/Budget Check In: 0:00 My Thoughts On Remote Work / The Cost of Working: 5:10 Budget check in part 2: 13:00 Our Moving Dilemma: 14:25 Should we drop a car?: 39:48 $3 vs $30,000 decisions: 46:35 Outro: 52:30
Oh my gosh! I'm in the middle of reading Bullshit Jobs and recently finished Your Money Or Your Life. It's hard reading books that you KNOW will change the way you look at money and work, but it's so scary to have your ideas about life challenged!
@@ScrubsandSavings21 crazy timing 😅would love to hear your thoughts on them if you haven’t already posted a video on them 😊 I just found your channel recently and need to go back and watch more of your already posted videos! I need to just get over it and read them 😭 I never regret doing it once I’ve actually done it lol
I love the chatty style and Big Money Big Feelings! its like brainstorming, contemplating, figuring out money and life philosophies. YES that's what Im all about. I am part of the way through and want to say I TOTALLY AGREE about your point regarding how much money you have to put back into a job to get the pay check. My job I don't have to dress in a way that I have to put money into, I also have good kitchen options so I essentially never have to purchase food out unless I'm just so lazy, same with coffee, and also I (through my life choices) live very close to it and bike to work. I do things in order to have so little expenses for that and that's always been my key to financial success that I've been able to find in life. By contrast most co workers pay for parking (600/year for uncovered parking), many people eat out often, buy coffee often. That's got to be $$$$
@@TheahLil that’s so nice that you bike to work! With my new job I don’t think I could bike to work, but sometimes I do walk home from work. It takes 40ish minutes but it’s nice to end the work day with movement. I love living close to where I work and really prioritize it. Completely agree that keeping your work costs/expenses in general low is the key to achieving your financial goals. Now that I’m a few weeks in I need to dial it in and get serious again, my transportation expenses are low but I know I can be better with food and coffee. Thanks for watching 😊
Yesssss I am so here for the brainstorming along with you. I totally agree with you on how much a job costs you just to work. Between the pros and cons list, I think the new apartment definitely outweighs your current place. The benefits you would be getting for the price you’re paying (to me) are definitely worth it. Not just for the “amenities”, but for your overall mental health with the updated style of the new place. All of these book recommendations are definitely giving me something to look forward too 😊 Can’t wait for the next episode
@@AverysMoneyMoves They are very tempting lol 😆 You could put the difference in ynab now and start living as if you move to see how y’all would adjust. You & your bf could try it for (3ish) months, or however long you have until this lease is up, or until you decide to stay or go. THEN you will definitely know if it’s worth it. PLUS, if y’all decide to move, all the money y’all were saving as the difference could go towards moving costs & new purchases for the new place.
I think you can definitely up your lifestyle at the same time that your income goes up . But you also have to make sure to up the amount you are saving/investing/spending for fun when keeping in mind ramits "rich life." He also adds that just bcs his listeners want something doesnt mean they can spend on it with the excuse of it being part of their "rich life." Your convo brings to mind the saying that goes " you can have everything you want, just not all at once." Starting a business and adding a mortgage to your expenses, plus potentially more commute time is going to be for a tight budget in the future (maybe). At the same time, starting a business and doing the risky stuff while your young sounds good too! I'd do a yearly budget for all potential scenarios (and share if you can lol)! But also, think about your mental state and what you guys can handle mentally, bcs its not all about the numbers. Knowing the numbers is the first step though. I've been toying with the idea of moving back to LA for a while. But i want to get some international travel done first. I know i will prioritize that, and i can just visit LA (sometimes 1-3 times a week😅) on my off days. That way, I still have the extra money to set aside for travel. But, once im done with that i think i can definitely spend more on rent and live closer to the city. I had to be realistic about the numbers and prioritize things that are important right now. I dont think either decision is a bad thing for you :), as long as you know your numbers and go in knowing some things will have to give/be set aside for a later time.
" you can have everything you want, just not all at once." - this is the hardest part, I know if we truly want something and it's a good decision I know that it will eventually happen, I just hate the feeling of waiting lol. I also struggle with just picking a goal and sticking to it, I feel like that's all I ever talk about on my channel 😅 that's a good point about Ramit's rich life concept as well. It sounds like you have a good plan with traveling first then moving back to LA, I think it makes sense for you to wait to move after you've done more traveling since that always costs $$$. We talked about something similar, how if we increase our household costs we know that we will end up traveling less unless we also manage to get our income up or something. We've traveled a decent amount but there are still other places we want to go, so for now we might focus on our extra income to go towards traveling rather than housing costs.
@@AverysMoneyMoves Yes! Then you also have to keep in mind that travel is not an everyday thing. So you are kinda sacrificing having a rich life everyday, because walking to work on a daily basis would be awesome too 😢. I totally get the paradox of choice😅😅
I think we have very similar personalities when it comes to work/money thoughts. I’ve commented before, but have you looked into what it would be to buy in the area? I don’t know what downtown you are, but if there is ability to get in around 300k, the monthly costs would be around the same price. This means you’ll be paying towards an asset at the increased costs and you can get the nice living space at the same time. Moving to a nice apartment and neighborhood is extremely underrated. Even with renting, it’s “only” $500 more a month and you get so many pros from it, plus you get to try new things gs and be more connected to the community.
@@courtneyboyd6401 after your comment I looked up what’s in the area and I was surprised to see that there are reasonably priced condos in the area in the $200-$300k range. This has given me a lot to think about lol so thank you for this. Completely agree on your second point, sometimes it’s worth elevating your expenses if it means you get to live somewhere you actually enjoy, as long as you can afford it while still hitting financial goals!
I would say it doesn't seem like a BAD idea, especially if you got rid of a car, but ultimately how I look at things when I have been working on big goals like big savings goals, I focus on what is my NEED vs my want. Nicer place is want not need. Don't forget honestly that moving is expensive, even when you think it isn't, and I agree you'd guarantee automatic increases each month. The fact that you have had no rent raises EVEN with utilities included is ridiculously awesome. Does it seem like a very stable landlord situation? As an aside I lived in a small guest house in my landlords back yard for 5 years and he never raised the rent once, utilities included, and it was glorious for me . I'd still live there I bet, but he wanted his mom to move into it :'( RIP, perfect guest house studio situation....
that is true, I don't NEED a nicer place and the cost of moving is $$$, so I should probably have better reasons than "just because I want to". For our place, it does seem to be a somewhat stable situation, it's hard to say for sure since he is an older landlord, so I'm not sure what his long term plans are. but we should probably ride it out as long as we can. thank you for your thoughtful comments, it has given me a lot to think about😊
This seems like a huge life style change - are you and your partner ready / want this change? If your goal is a house in a year or two, maybe the goal into save as much as possible now to make this a reality sooner. If it isn't your central goal, seems like a good time for a chat with the partner to see what lifestyle you both want. You mentioned the 1 vs, $3,000 decisions. I think the condo move is closer to the $3,000 decision. Your entire lifestyle will change being downtown. I could see y'all wanting to eat out more, grab a quick snack, go to any concerts or games more frequently. Lifestyle creep in action!
very good points about the lifestyle creep, that is definitely something I worry about. yes my partner and I discuss our future and financial goals a lot :) we are very open on potential lifestyles which makes it hard to just pick a path and stick to it lol. Thanks for your thoughts, I appreciate it!
I can tell that we live in the same city. You need to hold on to your current housing as long as you can until you are ready to buy a house.. My 600 sq ft 1 bedroom apartment is more than what your paying and I live on the west side. my rent has gone up over $300 a month the past 3 years. Those amenities are not worth it.
This may be a new series on my channel tentatively called Big Money Big Feelings: all about big financial decisions and the big feelings surrounding them. A laid-back, conversational series. So if you want more videos like this: be sure to like this video and subscribe to see more budgeting content. Thanks for watching🙂
Intro/Budget Check In: 0:00
My Thoughts On Remote Work / The Cost of Working: 5:10
Budget check in part 2: 13:00
Our Moving Dilemma: 14:25
Should we drop a car?: 39:48
$3 vs $30,000 decisions: 46:35
Outro: 52:30
Oh my gosh! I'm in the middle of reading Bullshit Jobs and recently finished Your Money Or Your Life. It's hard reading books that you KNOW will change the way you look at money and work, but it's so scary to have your ideas about life challenged!
@@ScrubsandSavings21 crazy timing 😅would love to hear your thoughts on them if you haven’t already posted a video on them 😊 I just found your channel recently and need to go back and watch more of your already posted videos!
I need to just get over it and read them 😭 I never regret doing it once I’ve actually done it lol
I love the chatty style and Big Money Big Feelings! its like brainstorming, contemplating, figuring out money and life philosophies. YES that's what Im all about.
I am part of the way through and want to say I TOTALLY AGREE about your point regarding how much money you have to put back into a job to get the pay check. My job I don't have to dress in a way that I have to put money into, I also have good kitchen options so I essentially never have to purchase food out unless I'm just so lazy, same with coffee, and also I (through my life choices) live very close to it and bike to work. I do things in order to have so little expenses for that and that's always been my key to financial success that I've been able to find in life.
By contrast most co workers pay for parking (600/year for uncovered parking), many people eat out often, buy coffee often. That's got to be $$$$
@@TheahLil that’s so nice that you bike to work! With my new job I don’t think I could bike to work, but sometimes I do walk home from work. It takes 40ish minutes but it’s nice to end the work day with movement. I love living close to where I work and really prioritize it.
Completely agree that keeping your work costs/expenses in general low is the key to achieving your financial goals. Now that I’m a few weeks in I need to dial it in and get serious again, my transportation expenses are low but I know I can be better with food and coffee.
Thanks for watching 😊
Yesssss I am so here for the brainstorming along with you. I totally agree with you on how much a job costs you just to work. Between the pros and cons list, I think the new apartment definitely outweighs your current place. The benefits you would be getting for the price you’re paying (to me) are definitely worth it. Not just for the “amenities”, but for your overall mental health with the updated style of the new place. All of these book recommendations are definitely giving me something to look forward too 😊 Can’t wait for the next episode
thanks Angel 😊 I am still on the fence but the pros of moving are incredibly tempting lol
@@AverysMoneyMoves They are very tempting lol 😆 You could put the difference in ynab now and start living as if you move to see how y’all would adjust. You & your bf could try it for (3ish) months, or however long you have until this lease is up, or until you decide to stay or go. THEN you will definitely know if it’s worth it. PLUS, if y’all decide to move, all the money y’all were saving as the difference could go towards moving costs & new purchases for the new place.
I think you can definitely up your lifestyle at the same time that your income goes up . But you also have to make sure to up the amount you are saving/investing/spending for fun when keeping in mind ramits "rich life." He also adds that just bcs his listeners want something doesnt mean they can spend on it with the excuse of it being part of their "rich life." Your convo brings to mind the saying that goes " you can have everything you want, just not all at once."
Starting a business and adding a mortgage to your expenses, plus potentially more commute time is going to be for a tight budget in the future (maybe). At the same time, starting a business and doing the risky stuff while your young sounds good too! I'd do a yearly budget for all potential scenarios (and share if you can lol)! But also, think about your mental state and what you guys can handle mentally, bcs its not all about the numbers. Knowing the numbers is the first step though.
I've been toying with the idea of moving back to LA for a while. But i want to get some international travel done first. I know i will prioritize that, and i can just visit LA (sometimes 1-3 times a week😅) on my off days. That way, I still have the extra money to set aside for travel. But, once im done with that i think i can definitely spend more on rent and live closer to the city. I had to be realistic about the numbers and prioritize things that are important right now. I dont think either decision is a bad thing for you :), as long as you know your numbers and go in knowing some things will have to give/be set aside for a later time.
" you can have everything you want, just not all at once." - this is the hardest part, I know if we truly want something and it's a good decision I know that it will eventually happen, I just hate the feeling of waiting lol. I also struggle with just picking a goal and sticking to it, I feel like that's all I ever talk about on my channel 😅 that's a good point about Ramit's rich life concept as well.
It sounds like you have a good plan with traveling first then moving back to LA, I think it makes sense for you to wait to move after you've done more traveling since that always costs $$$. We talked about something similar, how if we increase our household costs we know that we will end up traveling less unless we also manage to get our income up or something. We've traveled a decent amount but there are still other places we want to go, so for now we might focus on our extra income to go towards traveling rather than housing costs.
@@AverysMoneyMoves Yes! Then you also have to keep in mind that travel is not an everyday thing. So you are kinda sacrificing having a rich life everyday, because walking to work on a daily basis would be awesome too 😢. I totally get the paradox of choice😅😅
Commenting as I watch - those books you mentioned sound so interesting but damn I don't want to learn things because I can't just unknow them either 😅
@@YazWhyNY yeah with any book I’m like can I close Pandora’s box after this? If not then I don’t wanna know 🫣😂
patiently waiting for the episode on the very big business idea!!!
@@sinnamonstory I’m not sure when I will do it but hopefully sooner rather than later 🤞🤞
I think we have very similar personalities when it comes to work/money thoughts. I’ve commented before, but have you looked into what it would be to buy in the area? I don’t know what downtown you are, but if there is ability to get in around 300k, the monthly costs would be around the same price. This means you’ll be paying towards an asset at the increased costs and you can get the nice living space at the same time.
Moving to a nice apartment and neighborhood is extremely underrated. Even with renting, it’s “only” $500 more a month and you get so many pros from it, plus you get to try new things gs and be more connected to the community.
@@courtneyboyd6401 after your comment I looked up what’s in the area and I was surprised to see that there are reasonably priced condos in the area in the $200-$300k range. This has given me a lot to think about lol so thank you for this.
Completely agree on your second point, sometimes it’s worth elevating your expenses if it means you get to live somewhere you actually enjoy, as long as you can afford it while still hitting financial goals!
I would say it doesn't seem like a BAD idea, especially if you got rid of a car, but ultimately how I look at things when I have been working on big goals like big savings goals, I focus on what is my NEED vs my want. Nicer place is want not need. Don't forget honestly that moving is expensive, even when you think it isn't, and I agree you'd guarantee automatic increases each month. The fact that you have had no rent raises EVEN with utilities included is ridiculously awesome. Does it seem like a very stable landlord situation? As an aside I lived in a small guest house in my landlords back yard for 5 years and he never raised the rent once, utilities included, and it was glorious for me . I'd still live there I bet, but he wanted his mom to move into it :'( RIP, perfect guest house studio situation....
that is true, I don't NEED a nicer place and the cost of moving is $$$, so I should probably have better reasons than "just because I want to".
For our place, it does seem to be a somewhat stable situation, it's hard to say for sure since he is an older landlord, so I'm not sure what his long term plans are. but we should probably ride it out as long as we can. thank you for your thoughtful comments, it has given me a lot to think about😊
This seems like a huge life style change - are you and your partner ready / want this change?
If your goal is a house in a year or two, maybe the goal into save as much as possible now to make this a reality sooner. If it isn't your central goal, seems like a good time for a chat with the partner to see what lifestyle you both want.
You mentioned the 1 vs, $3,000 decisions. I think the condo move is closer to the $3,000 decision. Your entire lifestyle will change being downtown. I could see y'all wanting to eat out more, grab a quick snack, go to any concerts or games more frequently. Lifestyle creep in action!
very good points about the lifestyle creep, that is definitely something I worry about. yes my partner and I discuss our future and financial goals a lot :) we are very open on potential lifestyles which makes it hard to just pick a path and stick to it lol. Thanks for your thoughts, I appreciate it!
Lots of pros- def factor in higher rental increases annually if a corporate landlord
@@mtaylor9235 that’s true 😩 good point
I can tell that we live in the same city. You need to hold on to your current housing as long as you can until you are ready to buy a house.. My 600 sq ft 1 bedroom apartment is more than what your paying and I live on the west side. my rent has gone up over $300 a month the past 3 years. Those amenities are not worth it.
@@bpfd thank you for your insight. $300 in 3 years is shocking, wow! The cost of things around here is crazy.