Living On $45K A Year In Washington, D.C. | Millennial Money

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  • เผยแพร่เมื่อ 28 ก.ค. 2024
  • Victor Yang, 26, earns $45,000 a year and lives in Washington, D.C. As a congressional staffer with over three years experience Yang typically works more than 40 hours a week and sometimes ends up staying at the office until 9 or 10 p.m.
    This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money.
    Read more about Victor's budget breakdown here: cnb.cx/2YkMbQt
    Victor Yang can still vividly picture the sign his parents hung above his bedroom door growing up: "Time management is the key to success."
    The sign was a way of life for the Yang family. The mindset helped his parents, who immigrated from China in their 30s, to push through the hardships they faced building a life in the United States. And they passed the mantra on to Yang, he tells CNBC Make It.
    For Yang, that philosophy plays a large part in how he handles the money he earns working as a congressional aid in Washington D.C. "You spend when you need to spend money on something. But when you don't, then step back and think to yourself, Do I really need to make this purchase?" he says.
    Most of the time, Yang answers 'no.' No to hailing an Uber when he can ride his bike. No to eating out when he can cook at home. No to a gym membership when the city provides complimentary facilities. Why would he pay for something when there's a free solution at his fingertips?
    "I'm a big proponent of public service," he says. "I believe it's important to give back to the country that you love." Additionally, he's passionate about seeing more Asian-American representation in politics and government.
    Yang's salary has risen nominally every year that he's been on Capitol Hill, but his pay is largely determined by a number of political factors that don't have anything directly to do with him or the office he works for.
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    Living On $45K A Year In Washington, DC | Millennial Money

ความคิดเห็น • 1.6K

  • @CNBCMakeIt
    @CNBCMakeIt  4 ปีที่แล้ว +101

    What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K

    • @Ava_sava
      @Ava_sava 4 ปีที่แล้ว +3

      What about Suburbs around Philly, Bucks County Area

    • @allanchen8496
      @allanchen8496 4 ปีที่แล้ว +1

      How about Chicago?

    • @abbasmortada6226
      @abbasmortada6226 4 ปีที่แล้ว +2

      I never knew 45 is a lot thats like rent money

    • @kreativeforce532
      @kreativeforce532 4 ปีที่แล้ว +1

      -$157k

    • @Mogardie
      @Mogardie 4 ปีที่แล้ว +2

      I live near Philly and spend $8000 a year on music festivals

  • @abelleh1
    @abelleh1 4 ปีที่แล้ว +1837

    Been with this man in elementary school in Lexington, MA. He’s always been kind and just a happy man. Good to see him come so far. Much Love Victor

    • @misterman6691
      @misterman6691 4 ปีที่แล้ว +4

      moved to four corners near lexington/woburn and stumbled across this series this month very strange

    • @jeanp.5929
      @jeanp.5929 3 ปีที่แล้ว +5

      I live in Malden. Glad to know people from our area are doing big things.

    • @TonyMoze
      @TonyMoze 3 ปีที่แล้ว +1

      @@jeanp.5929 i'm loving to see some Boston area people here :)

    • @TonyMoze
      @TonyMoze 3 ปีที่แล้ว

      @@misterman6691 yussssss - i'm from that region. so happy to hear some nearby Boston people :)

    • @TonyMoze
      @TonyMoze 3 ปีที่แล้ว

      omg! so happy to see another Mass (especially near Boston person!) - Lexington!!!!!!

  • @libra_bitchy2022
    @libra_bitchy2022 4 ปีที่แล้ว +5539

    I liked this one the most. Relatable and more down to earth compared to “I’m 20 years old and make 200k a year!” 😂

    • @mustarsic
      @mustarsic 4 ปีที่แล้ว +95

      I liked that consultant guy. He is the most relatable to me as a 23 year old software engineer who makes over 200k

    • @kurtoshi38
      @kurtoshi38 4 ปีที่แล้ว +93

      He’s not relatable because he makes 2 times more than what my parents make combined a year

    • @andriod8014
      @andriod8014 4 ปีที่แล้ว +32

      Libra_bitchy $600 on food??????
      My family of 5 only spends 200-300 dollars on food each month.

    • @mustarsic
      @mustarsic 4 ปีที่แล้ว +59

      @@kurtoshi38 that's nobody's fault though...

    • @theendurance
      @theendurance 4 ปีที่แล้ว

      mustarsic hopefully I can get there too 🙏

  • @victorzyang
    @victorzyang 3 ปีที่แล้ว +257

    Thank you all for the LOVE. Wanted to share my story to encourage more Asian Americans to consider a career in government and to illustrate the low pay that Congressional staffers receive. Trying to do my part in making the world a better place!

    • @Kelly-mn8fd
      @Kelly-mn8fd 2 ปีที่แล้ว +6

      Thank you so much for participating in this! I want to work in DC and was trying to figure out what a budget would look like and the types of salaries I should aim for. Gives me courage to do something I want for lower salary seeing you succeed and sacrifice as a Legislative Assistant

    • @victorzyang
      @victorzyang 2 ปีที่แล้ว +3

      @@Kelly-mn8fd Glad that this video was encouraging, hope that you are able to make it out to DC and let me know if I can ever be of help!

    • @Tr-ey8no
      @Tr-ey8no 2 ปีที่แล้ว +2

      Good stuff! Glad I stumbled across this video

    • @khalidalali186
      @khalidalali186 2 ปีที่แล้ว +1

      Good luck dude.

    • @rvelasquez
      @rvelasquez ปีที่แล้ว

      As a guy, I just have to say that you rocked that red attire!

  • @irisxkae
    @irisxkae 4 ปีที่แล้ว +1649

    $45K isn’t much in DC at all! He was very blessed with his parents ability to help him buy a home because rent prices there would be almost $2K alone. & also, they need to pay these ppl more for the work he does. stay until 10pm with probably no OT. insanity.

    • @jacquelinm2662
      @jacquelinm2662 4 ปีที่แล้ว +37

      Thank God for people like Victor because it couldn’t be me.

    • @rigomartinez7217
      @rigomartinez7217 4 ปีที่แล้ว +16

      No OT is bs.. he is a fed employee he gets his OT

    • @edwink1467
      @edwink1467 4 ปีที่แล้ว +90

      Jimmy Sivongsay Who says his parents bought him his apartment? They just *helped* with the initial down payment, but he’s responsible for paying $1400+ per month in mortgage. If the parents aren’t selfish idiots and have an extra couple thousand dollars laying around, what’s wrong with helping their own son with a down payment?

    • @undertaker11ism
      @undertaker11ism 4 ปีที่แล้ว +21

      Iris Kea Rent over here is way higher than 2k in most places, especially around NW and NE.

    • @jaysivv436
      @jaysivv436 4 ปีที่แล้ว +2

      johnnyXXX It’s not that he can’t afford the mortgage, he has a decent job. But if you want happiness, get it on your own. If you wanna look successful, then by all means take advantage of those that want to help you. You carry a difference sense of confidence with self-invested ownership.

  • @yumtaylortots
    @yumtaylortots 4 ปีที่แล้ว +2858

    Accolades to this man for being a first gen Asian American that is working in the Government sector! That is not common and should be talked about more especially within the Asian American community! Thanks for the representation!!!

    • @LaidbackLuc9
      @LaidbackLuc9 4 ปีที่แล้ว +25

      Taylor Ma technically second gen, right?

    • @illiniwu
      @illiniwu 4 ปีที่แล้ว +49

      @@LaidbackLuc9 his parents are immigrants so that makes him first generation American/Asian-American

    • @emotionscomeandgo
      @emotionscomeandgo 4 ปีที่แล้ว +24

      @@illiniwu false. He is 2nd gen... His parents are 1st generation American citizens. The video is wrong.

    • @iriemonmon
      @iriemonmon 4 ปีที่แล้ว +52

      @@emotionscomeandgo No, he's a first generation American. He was the first generation of his family to be born American and grow up here. Second generation Americans are people whose grandparents immigrated here.

    • @BurntMarshmallows
      @BurntMarshmallows 4 ปีที่แล้ว +7

      Representation matters. Glad this guy is doing things in DC. Along the lines of politics, Andrew Yang is the only POC in the top 5 dem presidential candidates. He's impressed me with his 150+ policies and intelligence towards solving the nation's problems.

  • @CHSBulldog59
    @CHSBulldog59 4 ปีที่แล้ว +2393

    Finally, a realistic episode of someone not making $100k+

    • @milliemouse6525
      @milliemouse6525 4 ปีที่แล้ว +37

      Oh gee! I thought everybody makes a $100,000 a year 😂😂!

    • @danm1063
      @danm1063 4 ปีที่แล้ว +99

      That said, he owns a house that his parents bought him. So idk how realistic that is

    • @CHSBulldog59
      @CHSBulldog59 4 ปีที่แล้ว +24

      @@danm1063 right, that was the gotcha moment.

    • @dm-jf5uu
      @dm-jf5uu 4 ปีที่แล้ว +1

      I know

    • @Brandon-cs8gw
      @Brandon-cs8gw 4 ปีที่แล้ว +7

      Making 100k & barely making it just doesn't add up anyway. 100k pays for everything almost, & then be able to save a substantial amount as well

  • @gabrielmunoz-martinez1196
    @gabrielmunoz-martinez1196 4 ปีที่แล้ว +1739

    Politicians don’t pay their staff enough....what a surprise

    • @TheLegendOfNiko
      @TheLegendOfNiko 4 ปีที่แล้ว +28

      Angel Ramirez Scientists get paid sh-t too.

    • @ElinWinblad
      @ElinWinblad 4 ปีที่แล้ว +43

      Correction: YOU don’t pay them enough (taxpayer)

    • @aubreybey
      @aubreybey 4 ปีที่แล้ว +26

      Elin Winblad shut up

    • @FaintAura
      @FaintAura 4 ปีที่แล้ว +22

      @@ElinWinblad I pay enough in taxes, thanks commie.

    • @ElinWinblad
      @ElinWinblad 4 ปีที่แล้ว +50

      FaintAura lol I’m not a commie and I think they shouldn’t get paid more. I just like to remind ppl that WE are the government it’s not some magical money fairy.

  • @austincotton4279
    @austincotton4279 4 ปีที่แล้ว +947

    Ok y'all did him wrong though cutting to ice cream snickers right after "I don't usually spend money unless it's an expense I really feel like is necessary 💀😂

    • @bazli83
      @bazli83 4 ปีที่แล้ว +66

      ok but here me out, it's cheaper to eat ice cream snickers than it is to get a scoop outside :D

    • @nursliman3600
      @nursliman3600 4 ปีที่แล้ว +54

      Snickers ice cream IS a necessity

    • @Msdufr
      @Msdufr 3 ปีที่แล้ว +5

      He said food is a necessity.

  • @susana.i.gonzalez9874
    @susana.i.gonzalez9874 4 ปีที่แล้ว +826

    " Money is a tool. Not something it should be idolized" omg thank you sir!

    • @CC-si3cr
      @CC-si3cr 4 ปีที่แล้ว +4

      What he said @ the end was spot on. DC is really not the place to make money even if you are a lawyer. People move there to make a difference.

    • @jcmedia8696
      @jcmedia8696 4 ปีที่แล้ว +4

      poor people mentality, ive been there and made those excuses

    • @piadinaaffamata9191
      @piadinaaffamata9191 4 ปีที่แล้ว +2

      @AmarNathan seems like a sad life

    • @piadinaaffamata9191
      @piadinaaffamata9191 4 ปีที่แล้ว +3

      @AmarNathan just that there's something more to life than money.
      It is *very* important, but there's so much more to life than that.
      The sooner you realize it, the less you'll regret on your death bed

    • @r56mini
      @r56mini 3 ปีที่แล้ว

      More tools are better.

  • @EmersonWen
    @EmersonWen 4 ปีที่แล้ว +826

    I’m rooting for him. He’s going to be someone very important one day.

    • @MihadAlzayat
      @MihadAlzayat 4 ปีที่แล้ว +16

      YANG GANG

    • @EmersonWen
      @EmersonWen 4 ปีที่แล้ว +2

      @@MihadAlzayat lol I got Yanged!

    • @adgg8250
      @adgg8250 4 ปีที่แล้ว

      Agreed

    • @Angel-cs7bt
      @Angel-cs7bt 4 ปีที่แล้ว

      Alexandra Kirk
      R

    • @adeyosola414
      @adeyosola414 ปีที่แล้ว +1

      For some reason, he reminds me of Obama

  • @stevenvidal8206
    @stevenvidal8206 4 ปีที่แล้ว +619

    "Public transportation because it reduces my carbon footprint." I love this man

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 4 ปีที่แล้ว +4

      Actually walking would be better

    • @juggerswood
      @juggerswood 4 ปีที่แล้ว +6

      When you calculate your trip in d.c. using metro they tell you how much carbon you are not producing in pounds.

    • @juggerswood
      @juggerswood 4 ปีที่แล้ว +8

      @@user-td7xf3gz4l but then he'd be sweaty.

    • @cee-lopreen6754
      @cee-lopreen6754 4 ปีที่แล้ว +9

      DC also has the 3rd biggest metro in the United States and its very efficient and fast.

    • @ginnayyyy
      @ginnayyyy 4 ปีที่แล้ว +1

      @@cee-lopreen6754 I don't know about either of these two looool

  • @FinancialShinanigan
    @FinancialShinanigan 4 ปีที่แล้ว +1050

    He got that politician smile down!

    • @chicnoir29
      @chicnoir29 4 ปีที่แล้ว +3

      🤣🤣🤣

    • @emotionscomeandgo
      @emotionscomeandgo 4 ปีที่แล้ว +14

      He's as fake as any politician. He reminds me of an Asian Adam Schiff. You can see the fakeness coming out of him.

    • @DezNutzBich
      @DezNutzBich 4 ปีที่แล้ว +6

      @@emotionscomeandgo you should see Trump's 🤣🤣

    • @emotionscomeandgo
      @emotionscomeandgo 4 ปีที่แล้ว +12

      @@DezNutzBich Trump isn't a politician. That's his problem.... Trump is Trump. He's too transparent.

    • @salifusadat3002
      @salifusadat3002 4 ปีที่แล้ว +5

      emotionscomeandgo you mean Trumsparent

  • @AR-de7ij
    @AR-de7ij 4 ปีที่แล้ว +1314

    "My parents helped me buy my house because they thought that it was important to be financially stable ..." Generational wealth - still the number one determinant.

    • @chicnoir29
      @chicnoir29 4 ปีที่แล้ว +63

      Always and forever.

    • @senoracheapee1864
      @senoracheapee1864 4 ปีที่แล้ว +2

      A R facts

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 4 ปีที่แล้ว +111

      No doubt. Become the legacy changer for your family

    • @dexter131
      @dexter131 4 ปีที่แล้ว +198

      I think it has more to do with generational intelligence. Sure his parents gave him a hand up - but he ran with it instead of squandering on Starbucks and a liberal arts degree.
      Most of America is terrible with money to the point they can't give their kid any advantage. Unfortunately for those kids, even when they do receive a golden ticket - they waste it.
      Why do you think most lottery winners and athletes are broke once the money stops rolling in..
      It's your responsibility to change your life for the better, don't be like your parents who couldn't help even if they wanted to.

    • @bobgrime6983
      @bobgrime6983 4 ปีที่แล้ว +29

      @@dexter131 Exactly. This is truth. Stupid does breed Stupid but it will take the sacrifice of one within the generation to turn it around for the better.

  • @sv-bd5em
    @sv-bd5em 4 ปีที่แล้ว +1531

    Crap he’s so proper and well adjusted like just everything is correct

    • @dopegod987
      @dopegod987 4 ปีที่แล้ว +18

      It means something is very incorrect!

    • @worldonawrist
      @worldonawrist 4 ปีที่แล้ว +21

      Welcome to D.C.

    • @aphenr281
      @aphenr281 4 ปีที่แล้ว +1

      sv 93 yeah just hope nothing happens to him or else everything is going to come crashing down pretty quickly. Money wise he explains things pretty good.

    • @jmusmc85
      @jmusmc85 4 ปีที่แล้ว +7

      Dante Alighieri LoL. Exactly! Such a dork. Does he have any edge to him? Sounds like he’s at a job interview.

    • @adamd6648
      @adamd6648 4 ปีที่แล้ว +11

      Dope God like what he has to be a drug attic or smoke and drink all the time like literally almost everyone?

  • @bexrightnow8052
    @bexrightnow8052 4 ปีที่แล้ว +349

    I love his perspective on money and how eloquently he speaks about his neighborhood and his job! Such a positive guy with nothing but a good attitude on his lifestyle. Go Victor!

  • @randomrandom5740
    @randomrandom5740 4 ปีที่แล้ว +539

    that shoerack got hella screentime

  • @biobossx99
    @biobossx99 4 ปีที่แล้ว +491

    My favorite so far, people like victor have the right priorities. Service to country and not forgetting where you and your family come from.

  • @anac1094
    @anac1094 4 ปีที่แล้ว +116

    I'm also in DC and I make a about 48k. it is not that easy. Props to him for making it work.

  • @thisistotallyfine
    @thisistotallyfine 4 ปีที่แล้ว +84

    2020 Andrew Yang
    2040 Victor Yang

    • @junhaozhu
      @junhaozhu 4 ปีที่แล้ว +2

      Yang gang is real lol

  • @SuperSeth321
    @SuperSeth321 4 ปีที่แล้ว +442

    That’s a LOW ammount of money for living in a big city

    • @diamcole
      @diamcole 4 ปีที่แล้ว +16

      johnnie g It’s definitely not the most comfortable haha especially not in DC!

    • @SonceraeLong
      @SonceraeLong 4 ปีที่แล้ว +65

      I make a little more than him and I'm struggling here in DC. I'm so amazed that he's able to make it work

    • @SonceraeLong
      @SonceraeLong 4 ปีที่แล้ว +66

      ​@Evral Tatum-Mcfield I've lived in DC my whole life. But any other person looking to move here making only $45K with no help wouldn't be able to purchase a home let alone afford a one bedroom apartment for over $2000 a month plus other bills. I live on Capitol Hill as well, so tell me more about being able to afford new outfits every week cause I'd like to be able to lol

    • @sbond7510
      @sbond7510 4 ปีที่แล้ว +32

      I moved to the DC area 15 years ago making about $45k. It was pretty hard and I would never recommend it to anyone at that salary without help.

    • @Somelikeitthrift
      @Somelikeitthrift 4 ปีที่แล้ว +4

      Especially in Washington, D.C.

  • @SolarTTauri
    @SolarTTauri 4 ปีที่แล้ว +44

    My brain is screaming "why is he not renting his other bedroom!" Even the most basic room rental goes for $800 in DC!

    • @octaviakf
      @octaviakf 4 ปีที่แล้ว +24

      Solar T. Tauri maybe he doesn’t want strangers in his home thinking about safety 😬🤷🏽‍♀️

  • @SteveRam
    @SteveRam 4 ปีที่แล้ว +70

    $45k/YR IN DC!! Wow! Congrats my man on the ability to live a minimalist life style to be able to save and live like that. Great video! Thx for sharing!

    • @susanmiron5002
      @susanmiron5002 4 ปีที่แล้ว +5

      Yeah right, Minimalist lifestyle! He spends $600 of the month on food

    • @edwink1467
      @edwink1467 4 ปีที่แล้ว +5

      Susan Miron since when is eating food not minimalist?

    • @RunetotheScape223
      @RunetotheScape223 4 ปีที่แล้ว

      $20 per day on food? That’s pretty reasonable, and I don’t think part of minimalism is not spending much money on food.

    • @bighou2359
      @bighou2359 4 ปีที่แล้ว +3

      Come on now, it's not that hard when your Parents boost you $150k on the downpayment. He ain't slick.

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 4 ปีที่แล้ว

      @@susanmiron5002 such bs lol you're correct

  • @realSimoneCherie
    @realSimoneCherie 4 ปีที่แล้ว +384

    He’s planning to run for office

    • @ChandanBhuran
      @ChandanBhuran 4 ปีที่แล้ว +82

      This whole video sounds like free election ad!

    • @hanbone05
      @hanbone05 4 ปีที่แล้ว +54

      I’ll vote for him 😂

    • @cocobutterchin6768
      @cocobutterchin6768 4 ปีที่แล้ว

      Run for office in China after the pandemic

    • @SAnderson54
      @SAnderson54 4 ปีที่แล้ว

      yuuup!

  • @ericli421
    @ericli421 4 ปีที่แล้ว +711

    Ladies and Gentlemen....Your President of the united states in 2044

    • @buggaba
      @buggaba 4 ปีที่แล้ว +11

      He can run in 9 years in 2028 when he's 35

    • @iPhoneAppReviewer
      @iPhoneAppReviewer 4 ปีที่แล้ว +8

      Jian-Lin Li Unlike Donald Trump he only received a small loan of $150,000 for the down payment of his apartment.

    • @MsDesiree39
      @MsDesiree39 4 ปีที่แล้ว +1

      Ha! How many Asians voted for Obana? Just wanting bragging rights that's all. It's not an Asian country and they dint have to vote for you

    • @x000s2
      @x000s2 4 ปีที่แล้ว

      Who knows!

    • @laparisienne9520
      @laparisienne9520 4 ปีที่แล้ว

      May be he doest not want to be President! It is not for everyone.... And not everyone who is working in the capitol wants to become the next President!!

  • @BLU_GR.Y
    @BLU_GR.Y 4 ปีที่แล้ว +12

    Favorite video. So relatable in many ways. He’s also very intelligent and humble!

  • @jacquelinm2662
    @jacquelinm2662 4 ปีที่แล้ว +21

    I honestly adore Victor! His priorities are in order. Yes, this may not be a lot of money right now but I’m sure this is a stepping stone position. We all have to start somewhere!

  • @carmellabrown3335
    @carmellabrown3335 4 ปีที่แล้ว +244

    I loved this video. I completely agree that most people who go to DC don't do it for money.

    • @SinSeared
      @SinSeared 4 ปีที่แล้ว +38

      Lol yes the hell they do. Why in the world else would you live in DC? The crappy whether? The worst traffic? The high cost of living?

    • @carsnob
      @carsnob 4 ปีที่แล้ว +17

      @@SinSeared They wanna work in the nations capital maybe?

    • @kristinrodriguezrealtordmv3434
      @kristinrodriguezrealtordmv3434 4 ปีที่แล้ว +41

      We absolutely do! The job market is solid in DC, MD and Northern VA. WE come for the money honey! Hehe!

    • @carsnob
      @carsnob 4 ปีที่แล้ว +1

      @@kristinrodriguezrealtordmv3434 😂🤣😄

    • @LadyK007
      @LadyK007 4 ปีที่แล้ว +20

      Krittie In the City facts!!!! DC is here for the money, but maybe Capitol Hill staffers are not. A lot of the Capitol Hill staffers don’t get paid much at all,but often find lucrative positions once they leave the Hill.

  • @The_Equalizer23
    @The_Equalizer23 4 ปีที่แล้ว +23

    He’s a 26 year old government employee. His income is reasonable. And he could earn more on the side. But I reside in the DMV area. $189,700/yr is required to enter the top 10% of income earners. $117,000/yr is average!

    • @Dallas3212
      @Dallas3212 3 ปีที่แล้ว

      And you make which? ;)

  • @jlovetjat
    @jlovetjat 4 ปีที่แล้ว +200

    Luckily he has his parents to help because you're not gone live that comfortable off 45k in DC! This video made it seem easy!

    • @84transport35
      @84transport35 4 ปีที่แล้ว +45

      jlovetjat A lot of folks, missed that part. His house was 350k, and his mortgage is 1,450 per month. They said his parents helped him. His parents gave him 200k for his house.

    • @jlovetjat
      @jlovetjat 4 ปีที่แล้ว +1

      Exactly!!!!

    • @emartinez2809
      @emartinez2809 4 ปีที่แล้ว

      84 TRANSPORT my house is 315k I’m paying over 2000 a month

    • @juggerswood
      @juggerswood 4 ปีที่แล้ว

      @@emartinez2809 I pray for your soul. 🙍

    • @shavonboone87
      @shavonboone87 4 ปีที่แล้ว +3

      He's not living comfortable one of his whole check go to his mortgage. I'm sure he need the second check for assistance.. 45k is not a lot money to live on and be comfortable.. you needs some overtime

  • @XObimmer
    @XObimmer 4 ปีที่แล้ว +180

    I make $65k a year and can’t afford to buy a house here

    • @jonbeck19
      @jonbeck19 4 ปีที่แล้ว +49

      XO Bimmer he said his parents helped him buy a house

    • @ChristopherInTexas
      @ChristopherInTexas 4 ปีที่แล้ว +18

      www.nerdwallet.com/blog/mortgages/washington-dc-first-time-home-buyer-programs/ up to $80 k in down payment assistance and possibly lower interest loans.

    • @ChristopherInTexas
      @ChristopherInTexas 4 ปีที่แล้ว +10

      dhcd.dc.gov/sites/default/files/dc/sites/dhcd/publication/attachments/HPAP%20Home%20Buyer%20Assistance%20Table%20as%207.1.2019%20final.pdf According to this you could get 80-40K in down payment assistance Depending on your family size and household income.

    • @DankCornbread
      @DankCornbread 4 ปีที่แล้ว +3

      Christopher Tx preciate the links!

    • @coreyjordan2745
      @coreyjordan2745 4 ปีที่แล้ว +10

      He was lying. He parents helped him buy that. He can't even the food on that income. The math doesn't add up.

  • @hoyahead9930
    @hoyahead9930 4 ปีที่แล้ว +4

    So down to earth, such a positive attitude on life and on money, and so handsome. Love this guy!

  • @aisy156
    @aisy156 4 ปีที่แล้ว +10

    he is so calm and generate positive vibes. i wish i can be like him one day and stop worrying too much about money!

  • @jbar_85
    @jbar_85 4 ปีที่แล้ว +26

    This is one of your most relatable income stories. Now try to get a person making 32k- which is around the average pay of an American.

  • @DouglasLee9
    @DouglasLee9 4 ปีที่แล้ว +158

    Proud of this guy!
    My only comments: get a roomate, that will help with mortgage costs and put some extra money in your pocket. Also maybe get a fun second job on the side for extra spending money: tutor, write, etc.
    Also, funny how he bought Apt 4. It sounds like death in the language - its a superstitious culture.
    Lucky your parents supported you with the down payment. I wish my parents did that for me.

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 4 ปีที่แล้ว

      Why didn't they?

    • @DouglasLee9
      @DouglasLee9 4 ปีที่แล้ว +21

      @@user-td7xf3gz4l no money. Also, limited thinking. But coming from 100 percent responsibility. My parents and the world do not owe me squat.

    • @ginnayyyy
      @ginnayyyy 4 ปีที่แล้ว +4

      Yeah that no4 apartment was surprising. Also surprised for him to find a place that doesn't seem to have high HoA costs that comes with living in DC (looking at mortgage)

  • @datpspguy
    @datpspguy 4 ปีที่แล้ว

    This video honestly needs to be shown at colleges and highschools. I appreciate you explaining that money is a tool, keeping a positive and optimistic attitude towards life and you're career aspirations and speaking in a way that you're additional efforts outside of normal working hours will pay dividends. Hope you're able to get that GS-9, 11, 12 and eventually a SES. Good luck man! I've been in your shoes before as a GS-07 even during sequestration and it hurt...but kept that same mentality as you and things have changed significantly for me.

  • @habonhajira9935
    @habonhajira9935 4 ปีที่แล้ว +152

    So handsome and disciplined guy 😍

    • @senoracheapee1864
      @senoracheapee1864 4 ปีที่แล้ว +7

      Habon Hajira he’s adorable

    • @bighou2359
      @bighou2359 4 ปีที่แล้ว +5

      Thank his Parents for the $150k boost on his home downpayment.

    • @paulaaquino5847
      @paulaaquino5847 4 ปีที่แล้ว +15

      he's asian, his parents are 1st gen immigrants. So it's high likely they're intensely frugal and hardworking-that 150k dp didn't came from nothing 😉

    • @oops541
      @oops541 4 ปีที่แล้ว +12

      @@bighou2359 - Most Asians come to the U.S. with nothing. But they very work hard , save money for rainy day and be frugal. They don't go around buying stupid material things!

    • @Sarahtlopez
      @Sarahtlopez 4 ปีที่แล้ว +2

      Was waiting to see if someone noticed he was very handsome

  • @amybear4754
    @amybear4754 4 ปีที่แล้ว +7

    As an Asian American who’s is 24 this is one of my favorite Millennial Money videos. Not only was it more realistic to what I make, it was inspiring to see someone I can relate to. Also, Victor did an amazing job at giving perspective on salaries for our government workers as well as a general idea of what it’s like and why he does his job.

  • @TLM860
    @TLM860 4 ปีที่แล้ว

    Keep making more videos like this! It's nice to see someone that is actually relatable!

  • @sha_na2902
    @sha_na2902 4 ปีที่แล้ว +1

    I really enjoyed this one!
    Please continue to show more people with relatable salaries.
    Kudos to you Victor, you are an exceptional young man.

  • @Mizzbabyblue12
    @Mizzbabyblue12 4 ปีที่แล้ว +16

    I really enjoyed this episode. It was relatable and he's only one year younger than me.

  • @King_Jab
    @King_Jab 4 ปีที่แล้ว +102

    Them voting against the cost of living adjustment is trash.

    • @ocimak
      @ocimak 4 ปีที่แล้ว +25

      king_Jab27 the Congress members make $$$ other ways so they don’t care. So many are already millionaires or do so while on the hill

    • @user-td7xf3gz4l
      @user-td7xf3gz4l 4 ปีที่แล้ว +1

      Wrong.... i want lower taxes king...

  • @heartpng
    @heartpng 4 ปีที่แล้ว

    This was an informative and relatable perspective. I hope other publications doing videos about people earning $100k+ are taking notes.

  • @macaronichoco2137
    @macaronichoco2137 4 ปีที่แล้ว +31

    This guy used to go to church with me, and we're family friends, although he is much much older than me. I can't believe he is on youtube!

  • @chigasaki06
    @chigasaki06 4 ปีที่แล้ว +18

    He seems like such a down to earth guy.

  • @robertdais7569
    @robertdais7569 3 ปีที่แล้ว +3

    Great profile of a wise & wonderful young man who is a proud civil servant! Definitely need more CNBC profiles like this featuring incomes closer to the $40K-$80K range to balance things out. Best wishes in your journey.

  • @honorthelegend1
    @honorthelegend1 4 ปีที่แล้ว +2

    I have watched every make it I can get my hands on and this guys makes me smile. The city he lives in is so expensive and for this man to be so grounded just amazes me. Good luck to you Sir.

  • @shaniseb4
    @shaniseb4 4 ปีที่แล้ว +2

    The best CNBC Millennial Money episode by far.

  • @manutironi
    @manutironi 3 ปีที่แล้ว +6

    Without his parents’ help, there is no way he could have lived like that with that salary in DC, where a 1B +1B costs $2000/a month or more

  • @saltwatertaffy7020
    @saltwatertaffy7020 4 ปีที่แล้ว +5

    The free food comment made me laugh because my cousin who lives in the DC area does the same thing. She goes to events to eat. Lol.

  • @cardion411
    @cardion411 4 ปีที่แล้ว +1

    This is definitely one of the best I have seen.

  • @takisdust
    @takisdust 4 ปีที่แล้ว

    Hey thanks for sharing this!

  • @pleasantcrew
    @pleasantcrew 4 ปีที่แล้ว +12

    He is truly blessed but he has no student loans and is one of very few that can find a reasonably priced home in the city

  • @SHEGO-HARD
    @SHEGO-HARD 4 ปีที่แล้ว +9

    Wow i didn’t m kw people like him still exist. What a good soul

    • @henkkaa88
      @henkkaa88 4 ปีที่แล้ว +1

      He is exactly like anyone from Scandinavia or Finland :D

  • @crosscounty24
    @crosscounty24 4 ปีที่แล้ว +1

    By far the most relatable episode so far.

  • @rellware1
    @rellware1 4 ปีที่แล้ว

    Thank you. I loved watching your video and learning from you. You are such a great guy! 👍🏾

  • @korywatson9258
    @korywatson9258 4 ปีที่แล้ว +461

    where tf did this guy buy a house in DC on 45k/year

    • @fnfn9199
      @fnfn9199 4 ปีที่แล้ว +79

      Parents maybe?

    • @haox2659
      @haox2659 4 ปีที่แล้ว +316

      if you actually watch and listen to the video, he mentioned that his parents helped him out.

    • @michaelrodriguez3376
      @michaelrodriguez3376 4 ปีที่แล้ว +46

      $45,000 isn’t a lot of money to live in D.C..

    • @WendyInTheCity
      @WendyInTheCity 4 ปีที่แล้ว +56

      @@rodrigomelo6691 his parents. DC also has programs for first time homebuyers its just a very lengthy process

    • @doomtomb3
      @doomtomb3 4 ปีที่แล้ว +186

      His parents bro. Asian parents actually help their kids out unlike American “families”

  • @alexandergoldman
    @alexandergoldman 3 ปีที่แล้ว +3

    Victor: 0:56 "I don't usually spend money unless it's an expense that I feel is necessary"
    Camera: Pans to the freezer with Snickers and drumsticks. Amen brotha...when you've got to treat yourself, you do it right. Impressive how you manage your expenses, hope many learn from you

  • @vanessupreme0
    @vanessupreme0 4 ปีที่แล้ว +1

    This man is so humble, involved with the community & uses his money wisely. Amazing!

  • @TechUnboxingVideos
    @TechUnboxingVideos 4 ปีที่แล้ว +2

    CNBC Make It, You Rock! 🔥Huge Fan of Your Channel 🔥Looking Forward to Watching Your Next Video

  • @jaimeibanezz
    @jaimeibanezz 4 ปีที่แล้ว +54

    Next video, "Living on $150k A Year In Dallas Texas | Millennial Money " (;

    • @HEC892
      @HEC892 3 ปีที่แล้ว

      Are u from Dallas?

  • @kristiansantosa2997
    @kristiansantosa2997 4 ปีที่แล้ว +8

    Real take away lesson:
    We should learn to be parents like Victor's.
    Instead of blowing all of our savings for leisure, we should use it to help our children buying a house.

  • @valerieli6986
    @valerieli6986 4 ปีที่แล้ว

    Hey! I worked for a Boston Chinatown nonprofit too! So glad to hear about your story. Best of luck in D.C.!

  • @JL-jh6zn
    @JL-jh6zn 3 ปีที่แล้ว +2

    i like that he puts himself out there in his community

  • @HighPorte
    @HighPorte 4 ปีที่แล้ว +20

    The country just doesn’t want to give back to civil servants.

  • @ronj2508
    @ronj2508 4 ปีที่แล้ว +13

    I learned he has a good head on his shoulders and a 150k down payments on his condo from his parents.
    If he had to save the kind of down payment on his salary he would buy a house when he’s about 55

  • @truthxbexheard1
    @truthxbexheard1 4 ปีที่แล้ว +1

    Definitely one of my favorite episodes so far. Inspired with the amount of money he makes and his lifestyle. Hope he has a great future within the government.

  • @blackamericanlesbianprofes4357
    @blackamericanlesbianprofes4357 4 ปีที่แล้ว +1

    Thank you for posting this interview. Great to see this man talk about being Asian American and having a career in politics. :) And his work suit is nicely tailored and a pretty color burgundy purple.

  • @kevinbrocklesby74
    @kevinbrocklesby74 4 ปีที่แล้ว +37

    Great Channel, $45k a year is not enough in DC. I also live in Washington, Seattle and I do earn $12k weekly and I still feel it’s not enough, that’s why I always try to increase my investing power in other to generate as much income as possible.

    • @vegard5935
      @vegard5935 4 ปีที่แล้ว +16

      Wow! $12k weekly how do you earn so much ?

    • @kevinbrocklesby74
      @kevinbrocklesby74 4 ปีที่แล้ว +17

      Vegard I do earn that off my stock investment. I invest in stock with the help of a financial executive expert. Mr Wilson McEntee. He handles all my investment on my behalf generating high profits.

    • @icospeaksinc3924
      @icospeaksinc3924 4 ปีที่แล้ว +16

      Kevin Brocklesby, How can I connect to Mr Wilson McEntee, I have been seeing few recommendations about him! I want to start investing myself.

    • @kevinbrocklesby74
      @kevinbrocklesby74 4 ปีที่แล้ว +14

      Ok, ICO SPEAKS, you can communicate to Mr Wilson through his e-mail at📌
      Wilsonmcentee@gmail•com

    • @livehealthyvlogs3840
      @livehealthyvlogs3840 4 ปีที่แล้ว +9

      I actually once met him at a conference meeting I went to few weeks ago. His speech and knowledge about the market will give you insights that he had great knowledge about the market.

  • @LC-wh5dd
    @LC-wh5dd 4 ปีที่แล้ว +36

    600 per month on food is crazy. I’m spending about 160 CAD a month on food

    • @fromLAWRENCEKANSAS
      @fromLAWRENCEKANSAS 4 ปีที่แล้ว +5

      Dc food prices are expensive

    • @JusticeDK
      @JusticeDK 4 ปีที่แล้ว +1

      @Hugh 2:25 he said it himself that his parent help him bought his house, soooo???? Is he paying the mortgage or is it payoff?

    • @MEvans-tt1ri
      @MEvans-tt1ri 4 ปีที่แล้ว

      @@fromLAWRENCEKANSAS yea if you dont cook! Food ain that expensive here in DC....I spend 200 a month on groceries and meal prep!

    • @kevintyson2937
      @kevintyson2937 4 ปีที่แล้ว +1

      @@MEvans-tt1ri exactly, I narrow my food bill down to 120 here in DC...

    • @HairTransplantNetwork
      @HairTransplantNetwork 4 ปีที่แล้ว +1

      L C
      160 a month!!! What do you eat beans and rice

  • @TheMainMayn
    @TheMainMayn 4 ปีที่แล้ว

    The great thing about this is the truthfulness and realness that you don't need all the money in the world to make things work in life, and that you can make it all work out.

  • @Zeus1590
    @Zeus1590 3 ปีที่แล้ว +1

    This is so relatable. I can see great success in his future

  • @bilbobaggins8819
    @bilbobaggins8819 4 ปีที่แล้ว +9

    Monthly income is $3140 and his housing is 1600/month (0:50). housing is more than 50% of his income.... he's living well beyond his means

    • @kbthegoat824
      @kbthegoat824 4 ปีที่แล้ว

      He doesn't pay anything for transportation.

  • @gw646
    @gw646 4 ปีที่แล้ว +21

    Very intelligent and humble guy, I became a home owner at 24, 26 now. 100% recommend it if you can do it!

    • @watchmesave4912
      @watchmesave4912 4 ปีที่แล้ว +2

      I'm strongly considering this. Thanks

    • @blixx87
      @blixx87 4 ปีที่แล้ว +4

      When ur parents have money it’s easy as getting a house when ur 18

    • @ElinWinblad
      @ElinWinblad 4 ปีที่แล้ว +2

      edit name I got my house a lil later (30) but I was earning 34k and bought a house.

    • @anlai1467
      @anlai1467 4 ปีที่แล้ว

      Most houses here are $700-800k on average in my province. Should I buy a $200,000 condo if my take home is $3100 monthly? I am a minimalist. I am trying to save up on a 20% downpayment atm. I don't drive or eat out much. I am also single... and prefer it that way.

    • @philipwong5066
      @philipwong5066 4 ปีที่แล้ว +1

      @@blixx87 I doubt his parents have that much. Most Asian families usually help their kids get a house/ condo. If his parents had money his house would be at least a million.

  • @jessesoto6150
    @jessesoto6150 4 ปีที่แล้ว

    Kudos !! This mindset will prove invaluable. Good on you, kid!

  • @Robertodb2012
    @Robertodb2012 4 ปีที่แล้ว +2

    I like this guy. He could have gone down a route where he makes a lot more money but sees public service as more important. I also love how he puts himself out there and meets people in his neighbourhood. I want to be more like him.

  • @Slash113
    @Slash113 3 ปีที่แล้ว +3

    I struggle with barely 24k a year. Shoot I don’t think I even make that anymore. Teachers are so under appreciated. Teachers who are actually about their work should be paid doubled than what we earn, because we play multiple roles for children’s development every day. Also, we play essentially replicate the duties of other professions such as being a counselor, nurse, parent, mentor, etc for children.
    I’m also a young student seeking for my bachelors and and eventually masters... hopefully my JD, too. . . stressful.
    Kudos to you my man Victor! 👏♥️

  • @jayw2011
    @jayw2011 4 ปีที่แล้ว +210

    Dude his parents helped him buy his place....cmon now this still isn’t real for most ppl

    • @sarahjuma7563
      @sarahjuma7563 4 ปีที่แล้ว +104

      Jay White it’s actually quite common with Asian/south/middle eastern house holds

    • @cobramanphil
      @cobramanphil 4 ปีที่แล้ว +32

      @@sarahjuma7563 Yes. It is common, but I think what Jay was pointing out is that with a $45K a year salary home ownership in the Washington DC area is nearly impossible. Here is a pull of data for 2019 in the WDC area:
      The median price for a detached single-family home grew 10.9 percent, to $809,500, while that for a townhouse grew 11.9 percent, to $752,300. The median price for a condo or co-op unit also rose 0.6 percent, to $483,000. Salary needed to buy a median home is about $95K with 20 percent down or $109K with 10 percent down. The math just doesn't even out if you are at $45k gross.

    • @8000860
      @8000860 4 ปีที่แล้ว +5

      @@cobramanphil Oh, boy... Let me explain what is impossible. A flat in my area in Lviv (the city in Western Ukraine) costs $50000 for a one room apartment (kitchen, one room, WC and bathroom). And an average salary here is $250/mon.
      Your description above sounds just like a dream for a Ukrainian, like me 🙄

    • @onfeetnation
      @onfeetnation 4 ปีที่แล้ว +5

      @@cobramanphil I was thinking the same. I live in the DC area and pretty much impossible to find a house at that price. Also when you get a chance, download my app @stowaway app. It's a peer to peer shipping platform and is available on android and ios and would appreciate any feedback

    • @cobramanphil
      @cobramanphil 4 ปีที่แล้ว

      @@8000860 For my direct area median price for a home is $2,628,200 even though it has declined 10.9% in the last year. You can validate through the various online and standard calculator/mortgage apps, but a household income of approximately $400k would be needed assuming a 20% down (pretty much impossible to own a home unless you are making close to half a million a year). What I have observed though and it seems the norm is that there are a few that do make that kind of salary, but many use the resources earned from home sales (1 or 2 homes) to pay outright the single home worth $2.6 million. There are many ways to skin a cat as the term goes, but you cannot buy a home outright in the neighborhood unless you have a couple of homes owned already:).
      There are not many studios/apartments/flats in the city, but the few existing are in upwards of $550k..

  • @kristinrodriguezrealtordmv3434
    @kristinrodriguezrealtordmv3434 4 ปีที่แล้ว +2

    It's expensive here and alot of us transplants definitely live here for the job market and great salaries! I commend him for being able to live comfortably on $45k. It's not easy. I think it's phenomenal that his parents helped him buy a home in DC. Most of our overheard goes towards our rent or mortgage. Very smart of him to buy if he plans on staying in this area.

  • @noah_am_i
    @noah_am_i 2 ปีที่แล้ว

    I appreciate this man. Especially his reassuring energy

  • @aggi7695
    @aggi7695 4 ปีที่แล้ว +16

    I don’t know how he survive living on such small amount in DC. It is very expensive to live in DC

    • @alexandriab4171
      @alexandriab4171 4 ปีที่แล้ว +5

      It's BS. Nobody is gonna donate $50/month making 45k/yr living in DC. $15/month phone bill... Bruh...

    • @427skies
      @427skies 4 ปีที่แล้ว

      @@alexandriab4171 He probably has Cricket or something. Lol

    • @inthebooks3947
      @inthebooks3947 2 ปีที่แล้ว

      His parents gave 140k

  • @hagen3457
    @hagen3457 4 ปีที่แล้ว +48

    One problem. Parent's helped buy his house. Really adds to that $45k..

    • @shantricejones5830
      @shantricejones5830 4 ปีที่แล้ว +3

      They helped with down payment, he still has a mortgage. He probably barely getting by

  • @MihadAlzayat
    @MihadAlzayat 4 ปีที่แล้ว +2

    I live in Washington D.C. and it brings me so much joy that he's able to own a home on a modest salary. This city has become incredibly unaffordable for anyone with an average income.

  • @jaedevrick
    @jaedevrick 4 ปีที่แล้ว +2

    This guy is so humble and nice

  • @freestylepunk
    @freestylepunk 4 ปีที่แล้ว +12

    Yes, finally someone with a realistic normal income.

  • @SnowbirdSteeze
    @SnowbirdSteeze 4 ปีที่แล้ว +35

    This was me a decade ago, during the recession.
    God bless this kid, hope he gets his break and starts making those shekels

  • @TillTheThrill19
    @TillTheThrill19 4 ปีที่แล้ว

    Such a humble dude, you have a beautiful family! All the best Victor!

  • @MoorishBrooklyn
    @MoorishBrooklyn 4 ปีที่แล้ว +1

    Good financial progressing steps, good views on the value of money, good use of federal benefit options.

  • @oathgarde6641
    @oathgarde6641 4 ปีที่แล้ว +4

    no way he could have afforded that house on a 45k salary, let alone a down payment in DC. He is very lucky to have family gave him the $140k as down payment. Good for him for saving for retirement.

  • @brynnmcdonnell2260
    @brynnmcdonnell2260 4 ปีที่แล้ว +29

    I make $52k in DC and pay $1450 for housing expenses. His expenses gave me a heart attack

    • @dandaddavi
      @dandaddavi 4 ปีที่แล้ว +4

      I live here too and he's definitely lying lol

    • @amitranjan6615
      @amitranjan6615 4 ปีที่แล้ว

      Brynn per month or year

    • @undertaker11ism
      @undertaker11ism 4 ปีที่แล้ว

      Brynn McDonnell Same

    • @chicnoir29
      @chicnoir29 4 ปีที่แล้ว +1

      Move to Baltimore and commute for two years to save money.

    • @nick26442
      @nick26442 4 ปีที่แล้ว

      Its his house so yeah

  • @hr2079
    @hr2079 4 ปีที่แล้ว

    Good job buddy. Keep up the good work

  • @trybeinggr8239
    @trybeinggr8239 3 ปีที่แล้ว +1

    This guy is so genuine and likeable.

  • @henkkaa88
    @henkkaa88 4 ปีที่แล้ว +62

    Very Scandinavian the way he thinks about money. Usa needs politicians like him to raise the living standards of the middle and lower class.

  • @calicosta90731
    @calicosta90731 4 ปีที่แล้ว +5

    When your single you can make it anywhere, it’s when you put the family equation in the mix where it starts to spiral out of control. A cat or a dog would throw your budget out of whack and going to the vet can bankrupt you now a days.

  • @thali89
    @thali89 4 ปีที่แล้ว

    Finally! Some one more relatable. Thank you for this video.

  • @kevinortizgomez2775
    @kevinortizgomez2775 4 ปีที่แล้ว

    We need more of this CNBC, more realistically than other episodes

  • @teddyleo8945
    @teddyleo8945 4 ปีที่แล้ว +5

    Respect to this man. He doesn't let money define or control him. He has what he needs to get by and seems very hard-working.

  • @voicification
    @voicification 4 ปีที่แล้ว +6

    The amount he saves on a 45k salary is absolutely amazing. This guy has no nonsense spending. Just simple expenditures. More people need to be like him.

  • @Anita-md9ze
    @Anita-md9ze 3 ปีที่แล้ว +1

    Thank you for sharing your story especially as an Asian American. Need more of these willing to tell their stories. Very admirable person, glad to see you still going for what your believe and making the world a better place anyway you can. Wishing you much luck and prosperity in Capitol Hill .

  • @kimb6067
    @kimb6067 4 ปีที่แล้ว +1

    theis such a kind and passionate soul. I had no idea that people who work for congress can't make more money because the bill is voted down every year. It's really disappointing to know that people who love public service may not be able to stay in it due to financial reasons. This has got to be one of my favourite Millennial Money videos. Hope he does well in life, he deserves it!