Suze Orman Reacts: Living On $80K A Year In L.A. | Millennial Money
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- เผยแพร่เมื่อ 28 เม.ย. 2020
- Personal finance expert Suze Orman wants Wendy Gonzalez to think bigger when it comes to her money goals. The Los Angeles-based millennial earns $80,000 a year working as a logistics supervisor for an auto tech company and eventually wants to make $95,000.
“Why limit yourself to $95,000 a year?” Orman asks, reacting to CNBC Make It’s Millennial Money episode that features Gonzalez.
Orman also wishes the millennial hadn’t splurged on a BMW, which sets her back $720 a month. In addition to the car payment, Gonzalez spends about $90 on gas, putting her monthly transportation costs at $810. “What you deserve is a life of financial independence, not some car,” Orman says.
There is good news: “She’s saving money, she’s working ... and she’s making coffee at home,” says Orman, who thinks that buying coffee is like “peeing $1 million down the drain.” Gonzalez sets aside about $1,000 a month. She saves in a Roth IRA, high-yield savings account and a brokerage account. Gonzalez has around $25,000 saved in a high-yield savings account, which she has earmarked for a down payment one day.
Watch Orman’s full reaction to Gonzalez’s spending and savings habits.
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Suze Orman Reacts: Living On $80K A Year In LA | Millennial Money
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This girl’s student loan IS her car. She kinda negated that effort right there...
DynamicHunter Thats what I was thinking ha ha.
@dynamic hunter - OMG. You just said it totally correctly!! At least she can go bankrupt on the car. She could not on the student loan.
Not really. The car is too expensive, but she'll be done paying for that in five years students loans last waaaayyyy longer for most people
pheonixnmhesq yup plus there’s definitely people with student loans AND expensive car loans. And she said learned a lesson from it so.
LOL. My sister is recognized as one of the wealthiest women in California. And everybody in our refugee family of 10 are all successful. The Dream Vision car upon graduating was a BMW for her, and quite a few other siblings in my family. And they fulfilled that vision...and moved on to loftier goals that got them into exclusive zip codes. Was a fancy car my Dream Vision? No. But there is some utility in scraping and scrimping and getting.
Graham Stephan Reacts to Suze Orman Reacting to Living on $80K A Year in LA
Graham Stephan I knew it... 😂
YESSS Graham!
Hey Graham nice to see you here🤪
Watching Graham judge Suze judging Wendy making coffee like 👀 is personal finance inception. Ouroborus eating it’s tail, right here folks!
I was waiting for you thinking just that!!
''It's not your salary that makes you rich, it's your spending habits.''
Where were you back in 1982 when I graduated from high school lol ... Best comment ever.
A decent salary really helps
@@keithearl7879 It's in quotes for a reason, I did not come up with this. No idea who said it but it resonated with me when I heard it and it's now written on my financial tracker!
@@trildi It hit me at the time, its still something I needed to hear so thank you anyway....
factsssssss on facttttsss on factssssss!
She’s basically working the extra job to pay for the car...
Worth it
If she takes really really good care of her car and uses it her whole adult life then its worth it.
T. H. Lol cut the crap. Any car you buy/finance gonna lose value unless it’s a collectible car
😂😂😂
@@Ursfrndlyneena the cost to upkeep the car in good condition and the insurance for it will probably make her end up paying twice the value of the car when she got it.
She wakes up at 3:30am to be tired when driving the BMW lol
I currently drive a 10-year-old paid off car. Some friends ask why I haven't upgraded to something new and I simply tell them that I am enjoying no car payment more than I would enjoy a new car.
Wayyyy to go ..
Amen!
Good job. With the money you would make on payments, you should automatically invest in a good index fund. I did exactly that.
Yeah man I'm in the same boat. I really want a new truck though.
me too. are you using liability insurance or full coverage?
Suze Orman “dump him sis”
Lmao at the end it seemed like they broke up 😂 She gave us an update and it's pinned. Yes Wendy 👏
I just need to know how much Suze spends to get her teeth that white
From all the money she earned through her credit card scams and her fraudulent will and trust kit.
😂😂😂
After all the damage she has done to the people who believed that she would help them and then stole all those families money, she can actually sit with a smile on her face ...
@@keithearl7879 What happened, what did she do ?
@@helpdesk1467 What happened, what did she do ?
I make over $100k in South Carolina and would like to do this show. $100k here in the South is ten times better than $100k in Cali. ✅
Except...you have to live in South Carolina
Tator Nugget same here
Derick Hess have you been lol
so true!!
Tator Nugget Even in Cali 500k is not dirt hut... I know a lot of senior engineers who make below that and are living well with a family. *edit: didn't see house right after 500k lol I thought you were talking about the salary. But still, 500k house ain't that bad.
i like how she throws subtle shade with a huge smile 🤣🤣
I see a trend for graduates with no student loans, finance a car after graduation that would be the price of their student loan if they had them. Be financially free, don't let a car own you.
I think the biggest mistake I made was buying a new car after graduation, with a lot of student debt. It's stressful and not needed.
@@heyaisdabomb when it’s all paid off you will really feel the pressure relief.
Me too. It's so strange. I hope the trend ends!
People like Wendy bought into the idea that "life is short, enjoy it". I wonder what she will think when she's poor and unable to pay medical bills at 65 and wishes she rode the market instead of riding in a BMW for a few years.
I fell into this trap unfortunately. I'm 24 now with two years left on my car loan. Thankfully, I bought a Honda and not a BMW & my income has substantially increased since I originally purchased the car. Still, I consider it a mistake I've learned from. Financial independence is worth way more than a shiny new car will ever be.
I was a little skeptical at first, like “excuse me, this is Graham’s job” 😂🤣, but I actually really enjoyed her reaction.
Suze has been around for a lot longer than Graham lol
She did this on her TV show years ago. She gets the OG pass.
I’m aware of who she is, I just felt some type of way 🤣
Graham needs to react to this video
nicole smith I thought the same 😂😂😂
She was ruthless but a straight to the point!
Loved that she mentioned for her to have her own bank accounts ! Unless you are married you have no business having a joint account with your bf . Even married you should have the joint plus your personal account
80k a year in LA isn't much. It's like 35k a year where I live haha.
Yea, the poverty line is like 80K in LA.
.....so, what about the folks making close/near minimum wage in the LA areas??? Basically, that equates to few dollars an hour, or close to charity work??
Adam Bernard dude it’s not that much of a downgrade. It’s like 50k in the midwest
@Al Roker agreed. I live in a place with 5% tax. It's wonderfully low.
@@jjayguy23 lmao no it's not
She should sell the car and get something that actually fits her lifestyle AND won't cost a ton in repairs down the road.
It’s the LA culture. Broke people driving nice cars. Wait until you see the Taco Bell workers dropping $60K on a modded mustang. 💀
Whats odd because the rich dress homeless and the poor dress rich. Impressive how dull people are.
I'm still driving the Altima that I drove in college. Graduated debt free and feeling blessed.
Underrated comment here
Graham reacts to Suze reacting to Wendy reacting to Grahams reaction of Suze reacting to Wendy on Millennial Money.
Living Tiny with the Bushes as long as we like and subscribe, WE WILL BE THERE!!!
Lmao I love yall
This needs to happen lol
Invested Millennial that’s awesome that you’re in the chat. Good on you!
I wish suzie would come back. I used to watch her every saturday with a big plate of food.
@Ne Ws I like him too.
dave ramsey is also good too.
SUZE was my mentor. Now I have my own channel!
Then eat rice and beans for the rest of the week?
She needs good associations, whenever she talks expenses her boyfriend is involved. Something tells me he doesn't have a stable job
Something tells me her boyfriend doesn't have a job at all. I think she's paying for the both of them.
In the original video, she mentioned they both work at the same company
I think this is shame though to breakup with someone for that though. There have been times where I was in school, and my GF made good money. And vice versa. And now, we're both making good money finally. Such is life. It's just important to make sure that it's not a long term trend, as in, your not supporting your partner for 10 years and they have no good plan to achieve financial independence. Having each other to fall back on is a benefit of relationships, don't let it be a negative.
@@heyaisdabomb sounds like you have a healthy relationship that's good
@@heyaisdabomb in her case the bf has a different mindset about money which doesn’t work in the long run. If one is a spender the other a saver he will spend, she gets mad, he calls her boring or stuck up. Supporting in general isnt bad
*Great video. We all strive towards financial stability and a better life. It is easy to achieve this through the right investment, by living frugally and budgeting. I’m glad I learnt early in life to work hard for financial freedom*
@@gomezbollina1004 I’m truly inspired by your words. I’m very interested in investing and I’ve a good sum of money which I’m ready put in with the right information. My fear is losing my money in a wrong investment. For this reason, I’m willing to listen to your suggestions and ideas on how to invest wisely.
@@sonlee8066 I firmly believe that the success of any investment depends on having the right information, regardless of what others say, do whatever you set your mind to. Warren Buffer always says "be greedy when others are fearful and be fearful when others are greedy". This is certainly the trick to succeeding even when others fail. I made *$200,000* working with *Donald Nathan Scott* a licensed *financial adviser* . It’s been a promising experience so far with him.
Everyone should know that operating a business will pay off under certain conditions and that a job requires certain requirements to earn more than others. But with the right investment information, you can build, inherit, and store money for future spending. I always tell anyone who wants to listen to me that looking for investment ideas and having friends who help you spend less and build your finances are essential for a financially independent and healthy life.
She needs to sell the car. I would not be comfortable with that payment at her income level.
Facts. Replace it with a $294/mo Toyota and use the $456 remaining in acquiring assets that generate cashflow
I don’t understand why people are trying to tell her how to spend her money. If she sacrifices going out or vacations to drive a nice car, that’s fine. The problem here is she’s trying to professionally advise people on investing.
@@nolimitsouldier09 $700/mo is not worth a car.
It's a BMW. If she tried selling that thing, she'd owe more than she could sell it for. Looks like an expensive life lesson -- and those are often the lessons that stick with you the best.
I like Suze she’s a shady lady 😆😆
Frances Elizabeth 😂
Her faces, and the dead stares! Take note people! Don't make these mistakes!
This young lady is learning and I think she is doing a phenomenal job. The fact that she is able to reflect, set goals, and act is impressive!
Always buy a used car. I paid for my amazing car in full.
And if you get a brand new car the year or a year after it is released there is a big chance the car will have lots of issues and be unreliable (depends of brand too)
@@simonecookie809 a cars value decreases over time
I’ve never met this lady but I like her attitude!
Suzie? She's awesome.
Uh oh, Graham has some stiff competition now.
jak p competition?
lmao I'm young and I know who she is
I was just about to say this.
Umm what?? Suze Orman is the OG I started watching her show on MSNBC when I was in HS and that was 17 years ago. You could call or email in, list your expenses, debt, investments, etc and she would give you a plan for your personal finances.
This women has been around forever
Suze wins this argument easily. When I was making $80k, buzz sawing whatever debt was left was priority #1. You gotta be able to stash the money for that house downpayment, like yesterday. That car payment of hers has mirrors that are making her dreams further than they appear.
I wouldn’t think Suze Orman would be such a big Taco Bell fan.
IF you saw the lower half of Suze, you would see how big, Big is
Chuc Mung who cares?
She’s likes it cuz the owns it.
Crunchy Tacos go hard...
That car doesn’t look worth the price... looks like a Honda lowkey
Dasia Sanders Bruh ya feel me!!!
I didn't want to hate but 🤣🤣 you right
Pablo yes!!
Brandon Mann 😂😂😂 I said the same but dang! I would of rather a up to date Honda Civic
that's exactly what I was thinking
My wife and I are debt free and have our monthly expenses so low that we live completely off of one of our incomes and the other goes strictly to investments. Suze Orman is right, it's not about how much you make but how much you save and invest.
I need Kristen Wiig doing an impression of her 😂
J. G.I yes
Hahaha
blackrose8790 You don't have to imagine. She did an impression of her. Look it up.
I so miss my Saturday nights with Suze! Loved the can I afford it segment. Learned a lot watching and reading her books. Thanks Suze for all your awesome content!
she has a great podcast now in spotify
Whoa!!! Two surprises two days in a row?! CNBC breaking into the react market!
The minute Suze saw that car, she was already nodding her head LOL 😂 shoot even if I had lots of money I would NEVER EVER spend that kind of money on a car, it’s just outrageous
"Make the car payment and then you can really GO somewhere." As someone as dreams of traveling this really spoke to me. Bout to double these car payments so I can pay it off!
Tonisha Taylor more like “make sure your care payment is 10% or less than your take home and you can go somewhere”
I agree with Orman about having separate accounts. Dude could get all the money and run off with it.
Everyone should have their own money. My daughter is in school while her bf works, he let's her spend spend spend. I'm constantly saying you don't need another amazon package. You need a savings acct... if things don't work out you always have the finances to leave.
This was life for me. I loved every second of it.
Can we have more Suze Orman videos?? I love her and watched her shows since my college days! Would love to see more
Mae C Silveira agreed. Love her 💕💕💕
CNBC, more Suze plz. We all miss her. She was the one who lead us onto a wonderful financial path.
Loved this video. Her honesty and bluntness are on point 🙌🏼
Making money as a millennial is goals af! 🙌🏽🙌🏽🙌🏽
Wendy: I'm sacrificing sleep
Suze: I LOVE THIS WOMAN!
Great stuff! I wish there were mor videos like this :)
Never have a Joint bank account. I very seen so many stories of relationships going to court for stealing
I said the same thing on her video!! For someone so smart wendy sure is stupid. She wouldn't have to sacrifice her sleep everyday for $500/month extra if she had bought a simple 10 grand car like me and paid it off. My car got power windows, sun roof, power seats etc. and runs great! You could make 120 grand in the bay area and still be dirt poor cuz of all the expenses etc. It's how much you save that and make do with what you have that matters
A car is (almost) never an investment. A car will be never worth more than when you first bought it. Most important thing is that you have safe car to drive.
Smart move of you.
She bought what SHE like lmao. You drive a pos congratulations
lol I agree with you but I get why people do it. I am car guy but I drive a RAV4. And ideally in the future would love to own a Hurucan. So made a savings/income plan over the next 4-5 years to save up for it. But dealers can be pretty predatory at times and convince persons they can afford things they cannot.
She’s still making smart financial choices on other things. People will splurge on things they like when they have extra income. What’s important is that she otherwise doesn’t have too much debt and has saved plenty.
@@misshoneynevercame4832 yup the only time a car is a investment is when they are rare collectors cars and u have to be a millionaire to own those
I totally love this! Please make more of this 🙏
"You only live twice" says Bond, James Bond, lol!
Didn't Nancy Sinatra say that?
LoL Suze Orman is savage, love her no holds barred approach
As a now 28 year old millennial, i liked the way she did her video reaction. It was short straight to the point
"Forget the travelling, you've got a car! " 😅
Please do more of these!
Suzie we need more reaction videos. This was great!!
This is insane ! I am 30 ! And not even close to that salary ! In NY a single mom! Struggling. With like a few jobs ! Drowning in student loan debts! F.... my life
Don’t worry princess you can make it out.. I did! Im 33 live in ny. I had serious credit card debt at one time but I worked through it. Pay it off slowly and build your credit back up. I do uber eats and door dash for extra money. It comes in handy to help me pay for stuff. Don’t worry about the student loans. Thats the governments debt!
THANK YOU, Suze!!! A real one!!!
I had the same car payment on my bmw (which I still own after 12 years btw) making nearly half of what she’s making there at the time for me. My other monthly expenses were around $1600 including food/rent. Paid off the car in 4 years, no problem.
i thought the same thing when i saw that steering wheel. 😹
Her boyfriend is way to involved with how she spends her money. He seems like a freeloading BUM.
@@jasonbugznoll9250 dude wth
I think your simplifying relationships too much. My sister for example supports both her and her BF. Is he a bum? I wouldn't say so. He cooks, he cleans, he makes the coffee in the morning, he does the laundry, takes car of the car maintenance, and so on. All she has to do is work, and the rest of her responsibilities, he takes care of. Is he a freeloader? Technically, yes, but it's not like he doesn't put in his share of work. In this story, you don't know her situation. Maybe he's an artist, and he needs some time to break into the industry...
@@heyaisdabomb Sorry to break it to ya... but your sister's boyfriend is indeed a BUM lol
Women do ALL that plus work and take care of kids... I'm just saying...😕
@@butterfingers112able lol agreed Unless he has disabilities or reasons he can’t work. He could at least work part time or find something from home
I believe another comment stated she broke up with him.
I really do enjoy these videos.
The way this young lady defends herself on her TH-cam channel made me realise that she learnt nothing.
Everyone needs to shut up about Graham lol Suze is the OG financial guru
I love suze orman. She tells people what they need to hear when it comes to money.
That is so true about the relationship financial goals issue. Separate accounts unless you get on the same page. Trust me!
I love suze she knows what she is talking about.
$720 a month for a car lady are you crazy and that card appreciate it as soon as you drove it off the lot. You wanted a symbol of status it's going to hurt paying for it🤣🤣🤣
This is an updated "Can I Afford It!!" Yes!! OH how I have missed your shows.
I love this, good points!
Me, feeling guilty for buying a 1k Schwinn indoor bike as a graduation gift. Wendy, buys a 100K car as a graduation gift.
Lmaooooo
I love Suze’s reactions.
Love this, love Susie and really appreciate her commentary
Love this!!!!
She's getting robbed. Put 3k down on my 2019 C class and pay $470 a month
I wouldn't be surprised if she has a high interest car loan due to bad credit. That would def increase her monthly payments.
@@dii-N-sd agreed. By credit is 700+ so I’m guessing that’s a good thing haha
@@leonardowilson7709 Yes, you're good! 😆
Suze was taking shot after shot after shot LMAOOOOO
Right!! But it's good to hear advice from someone older since we're all just millennials learning from other millennials
This is great!
Love this!!!! More!!!
She is not sleeping, I love it!
Me: Can I have Graham Stephan reactions?
Mom: No, we have Graham Stephan reactions at home.
Graham Stephan reactions at home:
Donovan Castaneda AHAHAH😂😂
I laughed so hard at this 😂
She opens the video reading LOL
Great Video
She’s so funny 😂 I love her Haha
That car was stressing Suze out. 😂
B/c she has experience 😂😂In a 2017 CNBC.com story, Orman said:
“There was a time that I was in a relationship with a very, very wealthy person and I wanted to impress this person and I didn’t have money yet, so I went out and I leased a car. I leased a 750iL BMW, and my lease payments were like eight hundred dollars a month.” Source www.moneytalksnews.com/6-reasons-im-no-fan-of-suze-orman-and-you-shouldnt-be-either/
Great video
do more of these! i like it
So...you know we need this: Suze react to Graham. Or collaborations once the States are off punishment
2:32 things got too real 😂😂😂
At least somebody said it though! Stuff like this happens on Dave Ramsey all the time, yet he doesn't give this advice.
I love this! Can we please have more Suze Orman reacting to these milennial money videos?
I’ve never seen her before but ohhh god I love her “Taco Bell is my favor”😂😂😂
If she really regretted that bmw she would return it cause that’s exactly what I would do.
She probably thinking of her credit score it's important to time selling a car as well to avoid being upside down.
Exactly! Theres better stuff to spend that money on
Not how it works LOL
Right? Like maybe returning that crap BMW for a reliable car like a Honda or Toyota.
E 123 Maybe she doesn’t want to drive a boring Toyota or Honda and can care less about maintenance because she got what she likes. She obviously isn’t struggling so why settle for something you see on every corner 😂. Oh and that model she drives is reliable
Should've bought an older BMW. She's gonna be paying more than that car is worth.
Stevie Drums I’m trying to figure out why she needed a bmw, why not a Honda, Toyota or even an infinity if she need luxury soo bad
This. I'll never understand why people feel the need to buy brand new cars, especially luxury cars. She could have got the same car, used, for half the price.
Don't ever buy a older bmw
No that even worse. They're money pits which is why they're so cheap.
@@xoxo_kiyla Actually German cars lose value so fast and are cheap used because they're money pits. Its actually better to lease the new so you don't handle repairs.
But in general they're junk.
Honda, Toyota, Volvo, Ford (trucks and suvs only), Suburu (if you want all wheel drive), Mazda. That's it. You're welcome.
I want more of her on this!!
Please do more of these! I love Suze
They sell used 3 series Beemers with 20 thousand miles for 20 grand if you have to have that car especially on 80k
The older woman is very very smart about money I need some lessons from her
Dave Ramsey was better for me. Google him!!
Start watching Dave Ramsey’s TH-cam channel
Yeah because finance is her specialty
Shell have you in more debt than the government she's a a complete con artist, that has conned the middle class out of everything over the last 20years. These are the types of people that Oprah inflicts on her followers 💁🏽♀️💁🏽♀️🤷🏽♀️🤷🏽♀️😡😡😡😡🤬🤬🤬🤪🤪🤪🤦🏽♀️🤦🏽♀️🤦🏽♀️🤦🏽♀️🤷🏽♀️!!!!!!
Pulsar1984 I’m better than Ramsey, you need credit, if you are smart with it it can SAVE you money 💴
Love this reaction
I haven't even watched the video and I already like this.
Graham MUST get this girl on his show.
Sure Orman- no way to go free on points
Graham- hold my beer
raw real love it queen
Authors William Strauss and Neil Howe are widely credited with naming the millennials. They coined the term in 1987, around the time children born in 1982 were entering kindergarten, and the media were first identifying their prospective link to the impending new millennium as the high school graduating class of 2000.
As of 2019, the breakdown by age looks like this:
* Baby Boomers: Baby boomers were born between 1944 and 1964. They're current between 55-75 years old (76 million in U.S.)
* Gen X: Gen X was born between 1965 - 1979 and are currently between 40-54 years old (82 million people in U.S.)
* Gen Y: Gen Y, or Millennials, were born between 1980 and 1994. They are currently between 25-39 years old.
* Gen Y.1 = 25-29 years old (31 million people in U.S.)
* Gen Y.2 = 29-39 (42 million people in U.S.)
* Gen Z: Gen Z is the newest generation to be named and were born between 1995 and 2015. They are currently between 4-24 years old (nearly 74 million in U.S.)
The term “Millennial” has become the popular way to reference both segments of Gen Y (more on Y.1 and Y.2 below).
Realistically, the name Generation Z is a place-holder for the youngest people on the planet. It is likely to morph as they leave childhood and mature into their adolescent and adult identities.
😂 Love Suze, Loved this!! I need another with Suze.