What’s your budget breakdown? We’re looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
yes you gotta keep putting $100 a week to keep the stock market bubble up, so the billionaire investors and index funds can keep winning. Tesla, Facebook, Microsoft, Amazon. Bezos wins again.
the economy is designed for the Big Sharks like Kevin. Student loans are unforgivable. A Business loan is. Matter of fact the FED encourages DEBT for Investors, since there can always be quantitative easing, quantitative tightening to steady the inflationary/deflationary pressures.
Most people at investment firms make decent salaries, starting at well over $50k. However, staff that handles general stuff in the office like the receptionist, secretaries, the person that stocks and cleans the kitchen, etc... may make less than that.
I think this is a reality and kind of should be, should he be paid more because the boss is Kevin? Should we reward work because of who the boss is, or because the work the person generates deserves the reward?
Brian if everyone became nurses, supply would increase, salary would decrease. Engineering is more difficult intellectually and you do more academically challenging things in your career.
Brian Personally I think healthcare costs are getting ridiculously out of hand. I actually think that healthcare needs to dramatically change. If there was a way to get more Nurses and Physician Assistants with some sort of “AI Doctor” it has the potential to change the system. Nurses and PAs are more hands on people do need human interaction of course, but we can leave “decision making” - diagnosis and treatment to computers. Computers are good at taking in information and with the great advances we have in Natural Language Processing and Computer Vision, I could see the doctors role being transitioned to a computer. Doctors should be used for emergency/critical service in hospitals. Having a doctor checking your temperature to tell you that you have an infection, is like a Structural Engineer being in the field watching guys pour concrete instead of calculating the load on that concrete. More doctors should move from clinical practice into research. If you’re going to go to school for so long, go and find more cures to diseases. I can’t speak for others, but I can just tell you that most Asian people I know who do medicine , do it purely for the fact that it pays you a lot of money. I really don’t like that, but that’s the truth of how it is.
....I remembered few years ago, that my very first entry-level job was paying around $24.5K per year living in BKYN...I was on a tight budget, careful w/ my spending, and looked for sales/deals everywhere I shopped just to save a buck or two. At the time, I managed to save around $1700 per year.
Key word poor. I’m sure he would imagine a modest lifestyle would be around 250k when you consider all factors and doing it at a relatively comfortable pace.
I don’t think he’s out of touch, he’s just expressing confusion. The reality is, many of us New Yorkers shouldn’t be living in New York because it makes absolutely no financial sense. You see it all the time in the comments of apartment tour videos: ‘$1800 a month for a studio?!? I could buy a mansion with that in Texas!’ We all have our reasons for being in the city, but the truth is most of us aren’t making the smartest choice by doing so, and Covid-19 has definitely shown this.
I’ve lived on 15k in Manhattan, then 32k in Brooklyn, then 40k, then finally 50k. Because that is what NYC non-profits pay someone with a Bachelors degree in NYC. This guy is out of touch. 16 k in student loans is NOTHING
@@joeboe3059 Oh me too and I am building one. I'm just saying, it's not impossible to live on 50k a year in NYC and plenty of people in NYC live on less than that.
As a computer science graduate, It's sad to see that most of these financial experts push people towards STEM fields just to be able to pay back student loans. How about making school more affordable?
@@naddarr1 this is exactly what happened in Germany with lawyers. It was once a way to making a decent living and now you can be poor with a law degree
When the government got involved to make school more affordable by giving guaranteed loans, universities responded by raising tuition and letting as many students in as possible. You can’t “make” school more affordable. The only way it would happen is if the gov stopped issuing loans and the average person didn’t attend college. (Supply and demand)
@@naddarr1 It's a cultural thing. 18 year-olds who have been under the thumbs of their parents their entire life walk onto these "country club" campuses and their eyes go wide with thoughts of all the freedom and fun they're going to have, esp. since the average 18 year old has never had a full time job before and has a limited concept of money. As for the required classes that are frivolous that's due to the lowering of standards so that more people can get in. The only antidote would be to make college the realm of the elite again, and with "muh equality" being the raison d'etre these days, that's probably never gonna happen.
I think that all this "millennial money" stuff from CNBC is just bs promoted by the elites to let you feel guilty and responsible for your problems in life rather than organize and push for a change within society at large to create a fairer system.
16,000 in school loans is absolutely nothing compared to the average 4 year graduate. She seems very disciplined with how she spends her money. If she wasn't in NYC she would be totally fine, and likely will be fine in NYC too.
It’s not just discipline. She said herself, her loans are low because she had scholarships and parental help. Moreover, her rent ($950/mo) is well below average. While discipline is important, and she is disciplined, not everybody is working with the same opportunities. Many people are able to coast their way to success, many others are hard-working and disciplined but still unable to get by.
@@crazyscarecrow8136 Right why not talk about her conditions? Do people really think her behavior alone can account for all her success? These is almost always more to it.
He's so out of touch. I don't like to talk bad about people, but in this video he comes across as incredibly condescending and needlessly overbearing. He seems like the kind of person who sees Ayn Rand as his hero.
@@katy3901 I'm aware it's different but I feel that mean is more accurate particularly in places like Brooklyn, L.A. , The Bay area etc. Millionaires and million dollar homes are not outliers in cities like these. I'm a real estate agent here in Brooklyn your income needs to be 35x or 40x your rent to get an apartment. It's just not smart for an individual to use median income to determine whether or not they can afford to live some place.
@@DanteFiero For me, I'm not assessing it based on whether they can "afford to move there". I'm saying that these are the original communities who built the city, they're being priced out by the very active process of gentrification, and they provide essential services. To blame an individual for being underpaid is completely disengenuous, and does nothing to solve any problem. Further, if (as you claim) millionaires were "not outliers", there would be very little difference between the median and the mean. There is; ergo, they are outliers.
I get why he said it, but let's be real here: We can't all become engineers. Not everyone can cut it in an engineering major and there are other jobs that need to be filled.
I think getting in debt for a low salary job is not a good idea. I’ve seen people go into 100k debt for literature and make 20k a year. Debt is expensive and only worth it when you know you’ll make more.
Agreed but he was also joking to an extent. What he really meant to say is dont get a "social science" degree like liberal arts or something corny. Sociology comes to mind.
I'm skeptical when Kevin O'Leary says that you should only go to college for engineering.... THE MAN STUDIED PHOTOGRAPHY then went into BUSINESS to make billions 😂
@@pierrehenry3483 I wouldn't call it luck, he's a problem solver and learned quickly how to be an entrepreneur. You should def watch his video outlining his early career, it's on YT!
@gilbert martinez I personally know Google employees and they actually love it even though it's intense work because they have great benefits/pay/growth opportunities!
@@zachlafferty823 I'm not a dev, but I'm a tech and innovation leader that works with software engineers daily and I 100% agree with this. Culture is everything, if you're not comfortable then you can't be open to learning. It's all 'bout inspiring!!
@@Eccentric-YURR companies are either hit because of the pandemic, or crazy busy and don't have time to onboard. I just had a second interview for a job I applied to 6 months ago
Thank you !! It’s SO ANNOYING when people say get a part time job to pay off loans. And completely ignore HOUSING. Housing is ALREADY EXPENSIVE sucks up the money most people who can’t live at home or are going out of state make.
@@angelabakloyvovtchaikovsky1609 many don't have a choice. My father worked hard to pay for my undergrad at a private school but had school was on me and loans were a must for me to become an MFT which meant loans. I've 100k worth.
Love this! This is definitely something a lot of millenials and GenZers could relate to! You dont need $100k annual income to start wealth-creating habits, you get to $100k annual income BECAUSE of having wealth-creating habits! More power to you, Elena!
There are lots of people in Brooklyn making less than even 40k per year. Everyone acting so surprised when the minimum wage is $15. Unless everyone here is of a different demographic 👀
At least your state's minimum wage is wayyy better than my state. My state's minimum wage is still set for $7.25/hr. But you can find jobs that pay around $15/hr but they want you to have years of experience in the job or know certain skills for years. There are also jobs that can be found that pay $8 to $14/hr but then you'll still have to take on a 2nd job cause it's not enough. Depending on where you live & if you have health issues. Any other job here that pays over $15/hr means your traveling to different cities to do the job, in the medical field, or you work for corporate for a company or possibly work for a bank, etc.
Sometimes these videos make me sad because it makes me realize what position I am in compared to others. I am only 2 years younger than her but I am still in University. I don’t have a savings account or a retirement plan. I’m going to start today. I just made an appointment with Bank of America.
What is your major and what will be your student loan debt when you get out of college. That's the only thing that you should be paying attention to right now
I am 23 and in a similar position and I did not have either of those things 2 years ago, and she probably did not either. These things aren’t really necessary until you start making enough to actually start saving... There is still time.
Aria, I'm the person in the video and I want to assure you I didnt have retirement or stocks etc. Until I started working. Everyone has different circumstances so don't feel bad or compare yourself. You'll figure out what's best for you. Proud and excited for you !
Kevin O'Leary: "You have to put away a minimum of $100 per week when you're 23." Me, a 23 year old: "...How about 10? Best I can do is 10 per week, yes." Edit: Can you guys stop giving me advise? This was supposed to be funny and relatable, I don't need your advise. Also, I'm a disabled college student. It won't work
I’m surprised that nobody answered ! It’s okay if you can’t save more. If you save 10-20 pounds a week, it’s between 120 to 240 a year and it can be really helpful if you have an emergency and need extra money at one point
I can't believe he tried to compare his college/working part time to her's. The ratio of tuition to part time jobs is way bigger now than back in this boomer's time
@@kaz9242 Ahm the US? The embassies accept very few RELATIVE to the number of total applications BUT when we talk about the actual numbers, the US is the number 1 in terms of the number of immigrants accepted yearly pre-pandemic.
@@chrisdominguez5097 lol those immigrants are rich people. So bringing them to the US is benefiting you. And USA is a big melting pot that doesn't belong to any race or ethnicity so its no problem
Kevin O'Leary is one of my favorites on tv. You can tell he is very passionate about helping people and teaching people. And he does it in an animated way that only one from NY could. Very entertaining.
Could you imagine that in Italy my college was like 1200€ per year? And in Germany is like 200€ per year while in Denmark, Sweden, and other Scandinavian countries is completely free, paid by society? Whoever is gonna win the elections the U.S. in the future is going to look more like Europe than a third world country.
Hes rich. College creates debt slaves and doesn’t guarantee any success. In the current information age, from an ROI standpoint college is absolutely horrible investment in more than 99% of cases.. on pure numbers
Also his reaction to the amount! "Woah, 16,000 in loans!" I was thinking "good for her only 16k in loans" I mean that's a tiny amount! Thats the minimum anyone I know left college with.
"Engineering, engineering, engineering" lol.. Kevin O'Leary is an absolute gem! I studied business and I feel that I'm very fortunate to be doing pretty well for myself. But I can totally understand where Kevin's advice is coming from.
Asian-American here... Ask how much her PARENTS are worth. A lot of our parents have $$$ making it easier to live off of low salary before we make our way...
50k aint NYC money lmfao everyone in the world knows NYC is a desirable city, it only makes sense that it costs a lot to live there. But I agree $15 minimum wage should be nationwide, prices jus gonna go up tho but it's about time that minimum wage catches up w inflation
“Buy a condo” using $75k cash flow towards a mortgage. 🤔 Mr. Kevin O’Leary, I’ve lived in the hood of the hood in Bed-Stuy. The condos are $800k-$1.2 million for a shanty, commonly. 20% down, that’s about $160k. 30 years fixed that would be $3,875/month. What a fun way to be house poor. This city makes you work multiple contracts at the same time only to stay broke. 😂😪
Dude in your the 1970s a full time job in the summer could pay for all the tuition of a year. Today, that pays for only 30% of the tuition. Having a part time job doesn’t even help that much
I think it can really depend on which country you are in and how motivated you are to just get it done no matter the cost. In Australia at least, I worked full time during the summer months of my uni (which was around 4 months) laying asphalt and doing concreting. I was doing roughly 12-14 hours work a day and working weekends at minimum every 2nd week. In those 4 months I paid off over half of my uni fees. The other months were mixed between part and full time during uni and inbetween semesters (Some Australian unis have a tri-semester system). After the end of that year I had covered all of my uni fees and I was already saving up to buy a car in the next 1-2 years. I didn't go anywhere and since I was working so much I didn't even have the time to spend the money. Basically the main outgoing expenses were fuel for my car and food to make for my lunch and dinner to bring to work - yes, it was a massive sacrifice, I basically became non-existent to everyone around me. In fact at one point I didn't even see/speak to my parents for a week, because I was getting up before them and coming home when they were asleep LOL I would just say to students that have the 'luxury' of living at home with their parents rent free - make the most of it! Especially those in Australia..wages are pretty good here in general and if you are willing to work hard and save properly you can get it done. Be smart about tax time and try to make the most back from what you lost in taxes. In Australia the Government subsidises a lot - even uni fees, but sadly people don't know or read into it all.
I guess it really does depend where you live and the university you attend. I live In Canada and made enough money in 1 year working part time for my whole university tuition and I’m still going to the best university the province has to offer.
I work part time and also take classes at my local community college. I dont owe a dollar to my school, and I still have money each week. It can be done.
In the 1970s, poor people went to state schools, often on the GI Bill. Besides, you have four years of highschool to secure scholarships and work to save up a bit of cash -- my daughter has better than $100K saved at age 16.
@@bengillies2101 The Government heavily subsidizes tuition in the States, and there are numerous partial and full scholarships to be had. People here are spoiled and want tax payers to fund them 100%.
This was my story! I was in NYC in my 1Br ($900/mo) no student loan debt, a $250 car note making 40k/year. This was just a couple years back. Loved it!
Kiki Vee making six figures now! I opened my own therapy practice in may and I work in the ER. I have student debt now though (50k) but I can pay that off in under 3 years
Give me the math here on this one . That’s 460 a week give or take after taxes . So two weeks pay was rent . You were left with 900 . Subtract insurance 200, cell phone 100, 50 a week on gas leaves you with 100 a week . 250 car you clearly weren’t financing or leasing . There’s no way you were living off 100 bucks a week unless you had a poor diet off the 99 cents menu , never shopped , and bought all your stuff from the 99 cents store . If you had one issue with your car it would cost you your entire weekly pay check and you’d be left with nothing and I’m assuming with a car worth 250 there was unlimited problems . I’m guessing you had help from your parents or lived off multiple credit cards or sugar dada
That’s partially true. Student loans in Australia are interest free when you’re in school. When you graduate and make more than $52k a year you’re charged a higher tax rate until the loan is paid off. - Students can take on higher debt limits for fields that will provide more economic value (STEM, Law, Business, Medicine). If you’re studying something that’s not going to provide great economic value you can’t get a higher degree like a masters or PhD.
NYC is expensive but there’s definitely ways to make it cheaper than many other cities. It’s socially acceptable to have roommates so there’s an easy savings right there. You also don’t need to own a car and you can get an unlimited train pass for around $100 (even less if you get from work pre tax). There’s also great local Korean markets with very reasonable produce and fresh herbs. In addition, lunch spots and coffee from the food trucks are very reasonable. The taxes are crazy but I think it can be a reasonable city. I lived in NYC and now Chicago and food was cheaper in NYC. I bring my own lunch now because the food around the loop (downtown Chicago) is terrible and a minimum of $15 versus $6 or so in NYC (if you go to a per pound buffet in midtown). Also I lived in Astoria, Queens for my first 5 years and there were plenty of great, reasonably priced food there and there’s some really cheap bars in Manhattan. I used to do dollar beer night at down the hatch in my 20s. But she’s doing great- great job!
Agree!!! Living in Brooklyn right now. There’s definitely a lot of things that you can spend your money on but there’s just as much of amazing cheap food, free or cheap entertainment and tons of young people living in similar situations.
Let’s be mindful that there are communities in NYC where accessibility to food resources and transportation is very limited or non existent. Brownsville and East New York lack grocery stores with fresh and affordable produce, so this forces people to spend lots of money on takeout and processed food.
TruthShallPrevail4 I know it’s not apples to apples but housing can be cheaper since it’s more socially acceptable to have roommates so rent can be like $1200-$1400 if you have roommates vs other cities (like where I am in Chicago) you are weird for having roommates so you “have” to live alone which can be more expensive than that. My rent for the majority of the time I was in NYC was $750 (living with two people in Astoria, Queens), which was less than my fiancé’s rent in Indianapolis (living with one person). I also didn’t have the expense of a car and I saved more living in NYC than he did in Indianapolis with similar income. It’s definitely not apples to apples and I’m just talking about living in NYC in your 20s not when you’re older with a spouse and kids.
Engineering field is so over saturated, because people like Kevin keep pushing people to do it. There's a surplus of engineers and not enough jobs. Everyone said it was the best "job security", but COVID proved that theory wrong. In my city a vast amount of engineers lost their jobs. Some worked from home temporarily, then eventually laid off. The only people that I have seen to have real job security are the essential workers and the medical field.
Engineering can springboard you into almost any field you’d like. I have a mechanical engineering degree and its uses are nearly unlimited. If you have an engineering “mindset”, people will always give your resume a shot. I’m currently a product manager for a large industrial company, because the technical field of engineering didn’t interest me as much as financials.
I actually work at an aerospace manufacturing company and was deemed essential by gov for some reason. Aerospace engineering in Cali is probably the best way to go here. A lot of opportunities and hiring for engineers
@@wandaNcosmo This is true. I studied Civil but ended up working as a manufacturing engineer for biotech company. I talked with other engineers in the company and I'm hardly the odd case.
@@EwYoureCringe you would say the same if you start paying $15 for a gallon of milk or $10 for a big mac. The higher the pay the higher the price dude.
@@EwYoureCringe i cann you for a fact that no small business can handle paying workers $15 an hour without it either going bankrupt or increasing the price of its products. Milk used to be $3 where i live and after they enforced the $15 an hour law you cant find milk cheaper then $5 now.
Typical boomer scoffing at 16k in student loans. That is well below the average person’s burden. I graduated with 20k and I felt like I got out pretty unscathed. Does he not know how much college costs nowadays?
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. pray that anyone who reads this will be successful in life.
She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her. She is obviously the best, trading with her gives me joy of earning
@@alfredoalcantar8691 Ignorant dope. He’s Canadian and his political affiliation is with the Conservative party. That’s as far away from liberal as you can get. But your misdirected anger and jealousy is humorous.
Engineering in America is not great either. You're not gonna get rich working as anything besides a software engineer. Becoming a doctor is much more guaranteed route to wealth.
Drew I mean there are hundreds of different types of engineering. And all the engineers from my college are making enough to be considered middle class at least right out of college. What is rich? I’ll definitely have a million in retirement at my current rate if the 7% growth holds up.
Geez, when I was 23, I was still in school with no income. I hit $50k/yr in my 30's. The difference, though, is that I didn't have student loans. Anyway, she's doing so well for herself! I wish I was that mature in my 20's!
As soon as he said 16,000 was a lot for loans did I realize he's out of touch with this. He thinks engineering is the only path to riches...says a business major. Wait till he finds out how expensive it. She's making good income for a 23 year old, does her job have room to grow?
There are tens of thousands of people living in New York that are getting by on minimum wage. How is it shocking and impossible for someone to make 50k in nyc and live comfortably?
The Simple IRA part, where she says she puts in 5% and her company matches it - I feel like it would have been well worth clarifying that she may have 5% taken out, but an employer can only legally match/contribute up to 3% when it comes to dollar for dollar.
Two questions, how are her student loans so low and where can you find an apartment for less than $1000 in Brooklyn? Is it an ancient building with mildew and no AC?
I thought Kevin always said he never had a job. He only worked at an ice cream parlor and got fired the same day but in this video he says he was a waiter working nights. Something not adding up
I remember in an interview, he talked about how his mother was restless worrying about his future before he started his business and his stepfather (who is still alive, and seems close to) said they were happy that he got himself sorted out in the end. IDK if he had a job after the ice cream shop thing.
Some of this advice is misguided. Students who study humanities catch up to their STEM peers as they move into management positions later in life. The key is making the right moves early in your non-tech career.
@Josephine Bournes same, but with history. My degree helped build the soft skills I needed to effectively and compassionately communicate, manage a team, make decisions where there are no right answers, defend those decisions, work politics etc.
Price reflects supply and demand. If there are too many engineers, supply will exceed demand and less people will become engineers. The same goes for what we would now refer to as 'useless degrees'. I just think that people should be aware of how much they need to pay for education relative to what they may expect to make, then make the smart decision. Prices indicate that the US doesn't need as many artists as we have now. And that there are not enough people in stem feilds. That doesnt mean that there shouldn't be any artists, or that everyone should be engineers. Make your own decisions, but learn to live with the economic consequences. Rather than asking society to subsidize your decisions. I would be saying the same thing if there was an under saturation of people in the humanities relative to stem.
I had only about $20K a year in living expenses in NYC when I first moved there; I was able to pay off my student loans early and have decent savings because of that. I had what I believe was a rent stabilized apartment with roommates, and I didn't really spend that much time there because I was traveling a lot for work.
changed my major, and changed schools. Changed to Pace Univ, changed major to Business, (Financial Management, minor in Economics.) I dropped out due to marriage problems. no student debt. Have started my own business. An independent Record label, & music publishing co.
I chose to be stupid and have fun. I'm just turning 40 this year and i do not regret that decision. Ya i spent a few years catching up but 20s was the happiest time of my life.
Lived in Brooklyn on 25k a year plus OT (35k) in 2007 and 2008. It was my first job. Assistant to the creative director of Men’s Vogue Magazine (Conde Nast). I also supported my fiancé (who lived with me) at the time and only worked very sporadically. It wasn’t easy. Most other assistants at Conde were on the same wage but were the sons and daughters of some of the richest people in the nation and went home to apartments on fifth avenue . I actually had to live on that wage and took the A-Train back to my apartment in Bed-Stuy. Wouldn’t have changed the experience for the world though:)
@@juliannewilkinson1943 on 50,000 income, I calculated 4,200 federal tax, 3,800 FICA, and 2,300 NY tax. A little less is she qualifies for some federal credits or deductions (such as student loan interest deduction), and a little more if she's in New York City. So I think 40,000 after tax is pretty close.
I dont think she takes home 40 either. ...but I guess now with the higher standard deduction she may. Although if they take benifits payment out....like health insurance
@@jessicabixler1658 I'm a tax accountant----she makes about 40k after tax. Yes, the standard deduction doubled and the federal tax brackets went down (meaning you could make more money and be in a lower bracket) starting in 2018. If she pays health insurance or 401k, then she would make less than 40k after these deductions.
she's smart to do all this at 23. i didn't really do any investments until I was 35 and just put all my money into a high interest savings and regular checking account. I lived in NYC not too long ago getting around $36,000 after taxes and also in Brooklyn. The prices in NYC for rents really vary from expensive to more expensive neighborhoodfamilies). Paid $1,400 for a decent size 1b1b that wasn't a studio, so $16,800 a year on rent alone. My monthly utilities for everything were around $170-$200 a month=$2,400 a year. Mobile phone $200 a year. Laundry $20 a month=$240 a year. Food is amazing in NYC but once I started working a 9-5, I really only ate out 2x a week. I probably spent around $400 a month on groceries and takeout=$4,800 a year (most of what I buy is organic). If I went anywhere nice, I never paid due to it being a date (and no, I didn't deliberately date to get a free meal). Metro for the month $127 so $1,524 a year. Fun fund was typically just museums, inexpensive events, and getting cheap day of Broadway and off Broadway tickets. I maybe saw a play or musical 3x a month. Offhand I would guess my fun fund for a month was around $200 a month so $2,400 a year. Medications $30 a month=$360 a year and beauty products maybe $240 a year. Hair every 6 weeks $150 with tip so $1,200 a year. Pedicures every 6 weeks for $35 with tip=$280 a year.Roughly my life in NYC was $30,444 if my math was correct. $5,556 left over. Not a lot imo. I rarely bought clothing (if I did I bought on used, on Amazon, or at stores like TJ Maxx). Everything I typed out is deliberately on the more conservative side. Before I moved to NYC, I worked my way through high school and college and did not take out any loans. I also lived with my parents from 18 to around 25 which helped me to save (I still paid them "rent" from $500-$700 a month). I would have enough $ to go on 1 big trip a year and 2 short ones that were like under 5 days. I cannot believe I just did this and really thought about my expenses but it was fun thinking about my late 20s.
@@lucasanthony9704 the few individuals who are earning more than enough now are those who have come to realize monthly income cannot make them successful
I once had an executive tell me when I asked for 13 an hour to keep my head above water (I was paid 12) "I honestly dont know how you survive on that" even though he was not going to give me the money.
Alex yes, that's when people don't have a family here. Most Latinos live in house and apartments with about 6 people. A $1500 rent/mortgage devided by 6 is $250 and that's just the tip of the iceberg on how a lot of people live and manage to grow there income and savings overtime.
First year in the US my mom made 19k. We survived but it was horrible. No one told us about food pantries or food stamps, that free school lunch really saved my life.
I'm not from the USA but after researching it looks like London is more expensive than NYC. Here, people survive on 18k salaries, which is about 25k dollars...
People survive on that amount in the USA too. But this series continues to highlight people with decent wages who are just mismanaging part of their money by spending a ton on food etc. Realistically, people who make 25k are wayyy more creative on how they survive day to day and I’d like to see more profiles with people who live off that amount.
I do that too, I often look up events that are free. Some often even with free foods, so it further cuts the price down. I live in Christchurch, NZ, and this is how I bargained in my uni years. Another important thing is, I went out everyday, so I had a huge social network. This helps you in so many favours, such as getting a ride, and returning them with a $5nzd pizza shout or something. Advices, never feeling lonely, sharing knowledge, making the most of study and life together. Financially, well, cashing in altogether at events helps minimise costs too. It helps you feel fulfilled in life despite having less money as a student. Try it :)
hes not wrong though. 50k in such an expensive state is a very minimal lifestyle. in most states you can be making like 30k a year and be able to buy a small home on a few acres of land. that doesn't happen in NYC, SF, LA, Seattle, Portland, DC etc. the average rent cost for a 1 bedroom apartment in NYC is around $2000 per month. thats what the mortgage payment would be on a $400,000 mini-mansion on acreage in an average cost of living state.
BIG GOVERNMENT IS THE ISSUE AND NOT THE SOLUTION bruh u can’t buy few acres of land in some states.Trust me, unless u have no responsibility bc their wages are very low
@@chroniclaw709 no offense but that was terribly worded and im not sure what you're saying. you can absolutely get an acre of land for 1000-3000$ in most states. in my area i can find forested land with a spring fed creek for under $3,000 an acre
Objectively there are very few people as wealthy as Kevin O'leary, so actually there's not too many of him. There are far too many people drowning in debt with no real retirement plan, though.
In case you didn't know Kevin o leary wasnt born a millionaire, he had to grow himself to this point so he has obviously been at a point in his life where he was earning 50k a year
Engineering doens't fuel the stock market LMAO. What fuels stock markets is the FEDERAL reserve, whose main defenders are bureaucrats + econ/finance people.
Yeah I’m not going to plug in numbers into an excel sheet all day just to make a third of what I could make as an engineer. All these people are making money off investing which you don’t even need a college degree to learn how to do.
Im not living in a major city, but i only spend 20,000 USD per year, after rent food and so on, and i can save over half my income every month. Over half my food is import, meaning its imported using normal postal systems, so the prices are not inflated, and if i were to live in a city like new york, the rent is around doubled, with a few more money spent on food, so you can definitely live fine on 25-30k a year in new york in my opinion.
I lived off of $700 per month living in Venice, Ca in 2007. People can get by really cheap in any city on the earth if they try hard to not live expensively.
This is an EXCELLENT series to help young people learn how to do it. We used to learn this in the home but no longer. When I left home at age 17 to go to community college, I didn't even know how to balance my checkbook...Unfortunately, I learned nothing financial in my home. My father was always in debt and we four kids never had what we needed. His problem was one divorce, death and huge medical bills once (he had to sell out home to pay off the hospital bill and funeral for my step-mom. I actually learned what NOT to do from my father. He only had a 9th grade education and I knew that a college degree was my ticket out of poverty. I rented a room in a friends aunts home for $50.00 a month and worked full time as a cashier and put myself through school; two years community college and two year 4 year college. I also had $90.00 a month from my mother's Social Security that I put towards classes. I lives simply,, no vehicle, no insurance, no spring break trips (I was working) and iived in a college area house with 5 other girls to split costs. I ate a LOT of tuna fish! My primary goal was to get my degree as I was 100% on my own from age 17 on.
Here's the secret to getting by on any budget: if you're working and get moved (as I did), just rent a place and bide your time. When you're in that final job, or about to retire, buy a place. With an owned home, your costs become fixed, in general, you go on auto-pay, and just follow a budget. You're set unless something really unforeseen happens. As for me, my home in Texas was great until the great hovering hurricane. I had to give it up forever when water reached 7 feet high...
As a European, you know what? You guys in the U.S. are completely obsessed with money, that's due to the lack of a safety net/welfare system guaranteed by the State and paid by every taxpayer, you guys have to change. Like really really have to change toward a more social-democratic system, you will see the benefits in your quality of life since day 1. Cheers
@@siqueira797 absolutely not enough, but still way better than in the US. First: the health care system is considered a universal right for every citizen, regarding his/her income and is funded by every taxpayer, second the social safety net is a lot bigger. We're doing worse than Northern Europe but immensely better than in the US.
How much tax does all of that "free" stuff cost you? Another European comment said her jaw dropped that this girl took home about 40k out of her 50k salary and said she is taxed almost 50% across the pond.
So she pays $950 for rent? She must be sharing a apartment with other individuals. I've been trying for the longest to get a apartment,studio for that amount but it's impossible..
She most definitely has roommates if she lives in the most expensive borough and that would be Brooklyn. The city is dropping rental rates but Brooklyn is still going strong with it's high rates. I look at the Next Door app and houses for sale near me are still 2.3 million.
@@saptab1344 you know with 1.2 million you can retire where I live in Florida for that across the street from the beach and bonus you can watch rocket launches from your backyard
In Canada interest on student loan are taxe deductible = whatever I pay in interest comes back at the end of the year. Therefore the student loan is the last thing you want to pay off. Interest rate : 2.95% .....
As she says "My family helped a lot through college"... Some or rather most of us hasn't got a background where we get support from.. Yet i can say i am doing well with my finances even if i can't really invest but i always have savings. Noone taught me anything about money.. Although i rahter die single than struggle for my family..
I am 74yrs old. I make over $60, 000. I cut my own hair. When I retire, I get a pension. I am into investing. I have done fashion photography. Studied at nyu. Was a engineering student,( at ny tech.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
What’s your budget breakdown? We’re looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
If selected for an episode, what's the normal time frame for finding out?
yes you gotta keep putting $100 a week to keep the stock market bubble up, so the billionaire investors and index funds can keep winning. Tesla, Facebook, Microsoft, Amazon. Bezos wins again.
the economy is designed for the Big Sharks like Kevin. Student loans are unforgivable. A Business loan is. Matter of fact the FED encourages DEBT for Investors, since there can always be quantitative easing, quantitative tightening to steady the inflationary/deflationary pressures.
@@laturista1000 "Student loans are unforgivable" unless you're a government employee
What age range do you consider a millenial?
Funny how he kept scoffing at how impossible 50k is in nyc. Wonder how much his lowest paid employee in nyc makes...
Probably minimum wage 😂
@bacitracin ointment This is so true and universal.
Most people at investment firms make decent salaries, starting at well over $50k. However, staff that handles general stuff in the office like the receptionist, secretaries, the person that stocks and cleans the kitchen, etc... may make less than that.
You get paid according to your skill...Sorry we dont live in LA-LA land where everyone gets paid equal.
I think this is a reality and kind of should be, should he be paid more because the boss is Kevin? Should we reward work because of who the boss is, or because the work the person generates deserves the reward?
She's very financially disciplined for her age. Props to her.
I would make the caveat and say she is very financially disciplined period. It is very hard to budget that tightly, props to her!
All it takes is knowledge 💡
@@nyaluv143 and the right mindset
Even Kevin acknowledges she's smart
I mean shes asian so..
Engineering, engineering, engineering. When Kevin o leary sounds like an Indian parent!
I swear brother
@@Briguy288 not with that attitude
Literally any immigrant parent
Brian if everyone became nurses, supply would increase, salary would decrease. Engineering is more difficult intellectually and you do more academically challenging things in your career.
Brian Personally I think healthcare costs are getting ridiculously out of hand. I actually think that healthcare needs to dramatically change. If there was a way to get more Nurses and Physician Assistants with some sort of “AI Doctor” it has the potential to change the system. Nurses and PAs are more hands on people do need human interaction of course, but we can leave “decision making” - diagnosis and treatment to computers. Computers are good at taking in information and with the great advances we have in Natural Language Processing and Computer Vision, I could see the doctors role being transitioned to a computer. Doctors should be used for emergency/critical service in hospitals. Having a doctor checking your temperature to tell you that you have an infection, is like a Structural Engineer being in the field watching guys pour concrete instead of calculating the load on that concrete. More doctors should move from clinical practice into research. If you’re going to go to school for so long, go and find more cures to diseases. I can’t speak for others, but I can just tell you that most Asian people I know who do medicine , do it purely for the fact that it pays you a lot of money. I really don’t like that, but that’s the truth of how it is.
Kevin: "$50K in Brooklyn?! That's impossible!"
Entry level jobs in NYC: "We beg to differ"
🤣
....I remembered few years ago, that my very first entry-level job was paying around $24.5K per year living in BKYN...I was on a tight budget, careful w/ my spending, and looked for sales/deals everywhere I shopped just to save a buck or two. At the time, I managed to save around $1700 per year.
@@bluestonemetallic7 can you give some insight on what types of things are best to save or take advantage of?
This is a lot more than I was making for my first job in Boston. Entry level jobs really don't pay crap.
There is a reason it is called “entry level”
Is it just me or is she doing impressively well for 23? There are 23-year-olds that are still in school. 50k seems like a great salary.
NYC tho
I'm a 23 year old and I'm still in school so this hurt my feelings a little LOL
@@scorpioscorpiocancer sorry lmao. What I meant to say is that there are *many people her age still in school -- it's very normal.
50 k salary in nyc is 30k in Alabama. Her rent is $900. She probably lives with 4 roommates with bunkbeds
Not for nyc
He is completely out of touch with the reality of MANY poor people in NYC
I know people that are living on 25k a year
Key word poor. I’m sure he would imagine a modest lifestyle would be around 250k when you consider all factors and doing it at a relatively comfortable pace.
I don’t think he’s out of touch, he’s just expressing confusion.
The reality is, many of us New Yorkers shouldn’t be living in New York because it makes absolutely no financial sense. You see it all the time in the comments of apartment tour videos: ‘$1800 a month for a studio?!? I could buy a mansion with that in Texas!’
We all have our reasons for being in the city, but the truth is most of us aren’t making the smartest choice by doing so, and Covid-19 has definitely shown this.
Facts
Completely. Isn't the median NYC income around $50k?
I’ve lived on 15k in Manhattan, then 32k in Brooklyn, then 40k, then finally 50k. Because that is what NYC non-profits pay someone with a Bachelors degree in NYC. This guy is out of touch. 16 k in student loans is NOTHING
Impressive gal 🙏
That’s your choice and you’re entitled to that. Some people want to build a nest egg though.
@@joeboe3059 Oh me too and I am building one. I'm just saying, it's not impossible to live on 50k a year in NYC and plenty of people in NYC live on less than that.
Exactly
How? 15k means you are living with 8 people in a studio.
As a computer science graduate, It's sad to see that most of these financial experts push people towards STEM fields just to be able to pay back student loans. How about making school more affordable?
@@naddarr1 this is exactly what happened in Germany with lawyers. It was once a way to making a decent living and now you can be poor with a law degree
When the government got involved to make school more affordable by giving guaranteed loans, universities responded by raising tuition and letting as many students in as possible. You can’t “make” school more affordable. The only way it would happen is if the gov stopped issuing loans and the average person didn’t attend college. (Supply and demand)
@@naddarr1 It's a cultural thing. 18 year-olds who have been under the thumbs of their parents their entire life walk onto these "country club" campuses and their eyes go wide with thoughts of all the freedom and fun they're going to have, esp. since the average 18 year old has never had a full time job before and has a limited concept of money. As for the required classes that are frivolous that's due to the lowering of standards so that more people can get in. The only antidote would be to make college the realm of the elite again, and with "muh equality" being the raison d'etre these days, that's probably never gonna happen.
I think that all this "millennial money" stuff from CNBC is just bs promoted by the elites to let you feel guilty and responsible for your problems in life rather than organize and push for a change within society at large to create a fairer system.
PREACH 👌🏼✨
16,000 in school loans is absolutely nothing compared to the average 4 year graduate. She seems very disciplined with how she spends her money. If she wasn't in NYC she would be totally fine, and likely will be fine in NYC too.
It’s not just discipline.
She said herself, her loans are low because she had scholarships and parental help. Moreover, her rent ($950/mo) is well below average.
While discipline is important, and she is disciplined, not everybody is working with the same opportunities. Many people are able to coast their way to success, many others are hard-working and disciplined but still unable to get by.
The average amount owed after undergrad for Americans is only $15,000, according to US department of education.
@@crazyscarecrow8136 Right why not talk about her conditions? Do people really think her behavior alone can account for all her success? These is almost always more to it.
the median HOUSEHOLD income is 54k in brooklyn...
He's so out of touch. I don't like to talk bad about people, but in this video he comes across as incredibly condescending and needlessly overbearing. He seems like the kind of person who sees Ayn Rand as his hero.
But the average household income is around 86k
@@DanteFiero median is different from mean. In this case, with a few people earning vast, vast sums of money, median is the most accurate measurement.
@@katy3901 I'm aware it's different but I feel that mean is more accurate particularly in places like Brooklyn, L.A. , The Bay area etc.
Millionaires and million dollar homes are not outliers in cities like these.
I'm a real estate agent here in Brooklyn your income needs to be 35x or 40x your rent to get an apartment.
It's just not smart for an individual to use median income to determine whether or not they can afford to live some place.
@@DanteFiero For me, I'm not assessing it based on whether they can "afford to move there". I'm saying that these are the original communities who built the city, they're being priced out by the very active process of gentrification, and they provide essential services. To blame an individual for being underpaid is completely disengenuous, and does nothing to solve any problem.
Further, if (as you claim) millionaires were "not outliers", there would be very little difference between the median and the mean. There is; ergo, they are outliers.
I get why he said it, but let's be real here: We can't all become engineers. Not everyone can cut it in an engineering major and there are other jobs that need to be filled.
I think getting in debt for a low salary job is not a good idea. I’ve seen people go into 100k debt for literature and make 20k a year. Debt is expensive and only worth it when you know you’ll make more.
I think he’s idea is that engineering is the safest bet for a high paying job.
I'm an engineer in Europe and make a laughably small amount of cash.
@@CarHubTalk would love to, but it's suprisingly hard to move there and find a job without connections.
Agreed but he was also joking to an extent. What he really meant to say is dont get a "social science" degree like liberal arts or something corny. Sociology comes to mind.
Kevin - $50k? that’s impossible!
Meanwhile, she’s putting $880 a month in savings.
Who’s the real financial genius here?
The multi-millionaire
@@cevcena6692 the bald man Canadian who studied photography? Only reason he’s reich is because he stole a bank in 1978. Look it up
I'm skeptical when Kevin O'Leary says that you should only go to college for engineering.... THE MAN STUDIED PHOTOGRAPHY then went into BUSINESS to make billions 😂
He knows he was lucky and that college isn’t what it used to be. That’s called wisdom 😂
I was thinking the same exact thing... I'm a software engineer and it pays well but it's depressing work unless u work for Google or Microsoft
@@pierrehenry3483 I wouldn't call it luck, he's a problem solver and learned quickly how to be an entrepreneur. You should def watch his video outlining his early career, it's on YT!
@gilbert martinez I personally know Google employees and they actually love it even though it's intense work because they have great benefits/pay/growth opportunities!
@@zachlafferty823 I'm not a dev, but I'm a tech and innovation leader that works with software engineers daily and I 100% agree with this. Culture is everything, if you're not comfortable then you can't be open to learning. It's all 'bout inspiring!!
Elena: does anything
Kevin: smart kid, I do that too
Muskaan hahaha so underrated
As an unemployed engineering graduate , i feel personally attacked 🤣
I was just in your shoes, it gets better. If you have an eng degree you'll be fine
@@NameLastname888 Not if you don't have work experience.
I dont get it though cause engineering is major high in demand
@@Eccentric-YURR companies are either hit because of the pandemic, or crazy busy and don't have time to onboard. I just had a second interview for a job I applied to 6 months ago
ever thought about management or tech consulting?
People don't work during college to pay off loans, people work to afford to live in housing
Thank you !! It’s SO ANNOYING when people say get a part time job to pay off loans. And completely ignore HOUSING. Housing is ALREADY EXPENSIVE sucks up the money most people who can’t live at home or are going out of state make.
Thank you!
Dont take out loans. Money is real hard cash
@@angelabakloyvovtchaikovsky1609 many don't have a choice. My father worked hard to pay for my undergrad at a private school but had school was on me and loans were a must for me to become an MFT which meant loans. I've 100k worth.
Then work full time
Love this! This is definitely something a lot of millenials and GenZers could relate to! You dont need $100k annual income to start wealth-creating habits, you get to $100k annual income BECAUSE of having wealth-creating habits! More power to you, Elena!
this girl is honestly one of the most financially responsible people I have ever seen in millennial money
There are lots of people in Brooklyn making less than even 40k per year. Everyone acting so surprised when the minimum wage is $15. Unless everyone here is of a different demographic 👀
Makes it almost impossible to keep any of your money tho
Even with 880 per month
At least your state's minimum wage is wayyy better than my state. My state's minimum wage is still set for $7.25/hr. But you can find jobs that pay around $15/hr but they want you to have years of experience in the job or know certain skills for years. There are also jobs that can be found that pay $8 to $14/hr but then you'll still have to take on a 2nd job cause it's not enough. Depending on where you live & if you have health issues.
Any other job here that pays over $15/hr means your traveling to different cities to do the job, in the medical field, or you work for corporate for a company or possibly work for a bank, etc.
@@lazymusician10 "At least your state's minimum wage is wayyy better than my state. " the price of everything is higher as well
@@DaftFanPunk preach 🙌
@@lazymusician10 that sounds like PA! While I make more than the minimum wage it is still difficult with the part of the state I live reside!
Come on y’all lighten up, Kevin’s never been 22.
🤣🤣🤣😂😂😂
When he was 22 it was a lot easier
🤣
R u single simone❤?????
@Simone Chèrie
😂
“That’s impossible!”
Frugal people have entered the chat.
Sometimes these videos make me sad because it makes me realize what position I am in compared to others. I am only 2 years younger than her but I am still in University. I don’t have a savings account or a retirement plan.
I’m going to start today. I just made an appointment with Bank of America.
What is your major and what will be your student loan debt when you get out of college. That's the only thing that you should be paying attention to right now
I opened up a Roth IRA with Vanguard a month or two ago, made ~$40 so far
I am 23 and in a similar position and I did not have either of those things 2 years ago, and she probably did not either. These things aren’t really necessary until you start making enough to actually start saving... There is still time.
Aria, I'm the person in the video and I want to assure you I didnt have retirement or stocks etc. Until I started working. Everyone has different circumstances so don't feel bad or compare yourself. You'll figure out what's best for you. Proud and excited for you !
Elena Haskins so cool you are responding to comments.
Shows you how out of touch these rich people are with how the rest of the world, which includes their own employees, live.
Kevin O'Leary: "You have to put away a minimum of $100 per week when you're 23."
Me, a 23 year old: "...How about 10? Best I can do is 10 per week, yes."
Edit: Can you guys stop giving me advise? This was supposed to be funny and relatable, I don't need your advise. Also, I'm a disabled college student. It won't work
I’m surprised that nobody answered ! It’s okay if you can’t save more. If you save 10-20 pounds a week, it’s between 120 to 240 a year and it can be really helpful if you have an emergency and need extra money at one point
Yeah that’s bs cut the $10 coffee at Starbucks a day you’ll be able to do $100
@@БиггиСмолс-ю6ь I don't even have a Starbucks near me hahah. I made barely enough to pay for my needs back then, so yeah
It depends on your income ofcourse, just be sure to .
if u moved back in with ur parents u could save more
I can't believe he tried to compare his college/working part time to her's. The ratio of tuition to part time jobs is way bigger now than back in this boomer's time
He’s also Canadian where college is way cheaper
Because bringing in more people to oversupply your country with laborers was a good idea... Or so the 50% of you believes.
@@chrisdominguez5097 who is bringing everyone? . The American embassies around the world are known for accepting very few visa applications.
@@kaz9242 Ahm the US? The embassies accept very few RELATIVE to the number of total applications BUT when we talk about the actual numbers, the US is the number 1 in terms of the number of immigrants accepted yearly pre-pandemic.
@@chrisdominguez5097 lol those immigrants are rich people. So bringing them to the US is benefiting you. And USA is a big melting pot that doesn't belong to any race or ethnicity so its no problem
Kevin O'Leary is one of my favorites on tv. You can tell he is very passionate about helping people and teaching people. And he does it in an animated way that only one from NY could. Very entertaining.
Lmao! He's not from NY, he is from Montreal.
“If you’re gonna burden yourself with student loans” ha jeez. I don’t think he understands this shouldn’t be the status quo
Could you imagine that in Italy my college was like 1200€ per year? And in Germany is like 200€ per year while in Denmark, Sweden, and other Scandinavian countries is completely free, paid by society? Whoever is gonna win the elections the U.S. in the future is going to look more like Europe than a third world country.
Hes rich. College creates debt slaves and doesn’t guarantee any success. In the current information age, from an ROI standpoint college is absolutely horrible investment in more than 99% of cases.. on pure numbers
@@OfficialEduardoCastillo absolutely agree! I studied Philosophy and now I'm a Data Analyst 😆
Also his reaction to the amount! "Woah, 16,000 in loans!" I was thinking "good for her only 16k in loans" I mean that's a tiny amount! Thats the minimum anyone I know left college with.
yeah I mean, where does he live? Park Avenue in Manhattan? He's completely out of touch with mere mortals...
"Engineering, engineering, engineering" lol..
Kevin O'Leary is an absolute gem! I studied business and I feel that I'm very fortunate to be doing pretty well for myself. But I can totally understand where Kevin's advice is coming from.
I’m studying for an engineering test while listening, and had a moment of pride watching this for choosing my major.
Asian-American here... Ask how much her PARENTS are worth. A lot of our parents have $$$ making it easier to live off of low salary before we make our way...
True a lot of asians are rich af. Clearly her parents are wealthy cuz they helped pay off some of her student loans
And a ton more Asian parents are poor, stop stereotyping us, racist.
Kevin: “It’s impossible to live on $50K a year in NYC”
Also Kevin: “A $15 minimum wage is insanity”
$15 minimum wage is insanity. Minimum wage shouldn’t exist.
50k aint NYC money lmfao everyone in the world knows NYC is a desirable city, it only makes sense that it costs a lot to live there. But I agree $15 minimum wage should be nationwide, prices jus gonna go up tho but it's about time that minimum wage catches up w inflation
Two different things. Minimum wage does not lower poverty, it just adds inflation. Cost of the produced goods or service rises.
No one said she had to live in NYC.
##AlbanianPrince a higher minimum wage makes it harder for new workers to get a job
“Buy a condo” using $75k cash flow towards a mortgage. 🤔 Mr. Kevin O’Leary, I’ve lived in the hood of the hood in Bed-Stuy. The condos are $800k-$1.2 million for a shanty, commonly. 20% down, that’s about $160k. 30 years fixed that would be $3,875/month. What a fun way to be house poor. This city makes you work multiple contracts at the same time only to stay broke. 😂😪
I live in bed stuy now it’s crazy how prices have quadrupled over 20 years
Gotta live in jersey..
Leave?
Jessica are you Asian? Why do you look like the typical self hating Asian girl who only dates mayo males?
Dude in your the 1970s a full time job in the summer could pay for all the tuition of a year. Today, that pays for only 30% of the tuition. Having a part time job doesn’t even help that much
I think it can really depend on which country you are in and how motivated you are to just get it done no matter the cost. In Australia at least, I worked full time during the summer months of my uni (which was around 4 months) laying asphalt and doing concreting. I was doing roughly 12-14 hours work a day and working weekends at minimum every 2nd week. In those 4 months I paid off over half of my uni fees. The other months were mixed between part and full time during uni and inbetween semesters (Some Australian unis have a tri-semester system). After the end of that year I had covered all of my uni fees and I was already saving up to buy a car in the next 1-2 years.
I didn't go anywhere and since I was working so much I didn't even have the time to spend the money. Basically the main outgoing expenses were fuel for my car and food to make for my lunch and dinner to bring to work - yes, it was a massive sacrifice, I basically became non-existent to everyone around me. In fact at one point I didn't even see/speak to my parents for a week, because I was getting up before them and coming home when they were asleep LOL
I would just say to students that have the 'luxury' of living at home with their parents rent free - make the most of it! Especially those in Australia..wages are pretty good here in general and if you are willing to work hard and save properly you can get it done. Be smart about tax time and try to make the most back from what you lost in taxes. In Australia the Government subsidises a lot - even uni fees, but sadly people don't know or read into it all.
I guess it really does depend where you live and the university you attend. I live In Canada and made enough money in 1 year working part time for my whole university tuition and I’m still going to the best university the province has to offer.
I work part time and also take classes at my local community college. I dont owe a dollar to my school, and I still have money each week. It can be done.
In the 1970s, poor people went to state schools, often on the GI Bill. Besides, you have four years of highschool to secure scholarships and work to save up a bit of cash -- my daughter has better than $100K saved at age 16.
@@bengillies2101 The Government heavily subsidizes tuition in the States, and there are numerous partial and full scholarships to be had. People here are spoiled and want tax payers to fund them 100%.
This was my story! I was in NYC in my 1Br ($900/mo) no student loan debt, a $250 car note making 40k/year. This was just a couple years back. Loved it!
How are you doing now?
Kiki Vee making six figures now! I opened my own therapy practice in may and I work in the ER. I have student debt now though (50k) but I can pay that off in under 3 years
@@TheBlackDorothyZbornak congrats... Your doing impressively well
@@TheBlackDorothyZbornak congratulations on your success!
Give me the math here on this one . That’s 460 a week give or take after taxes . So two weeks pay was rent . You were left with 900 . Subtract insurance 200, cell phone 100, 50 a week on gas leaves you with 100 a week . 250 car you clearly weren’t financing or leasing . There’s no way you were living off 100 bucks a week unless you had a poor diet off the 99 cents menu , never shopped , and bought all your stuff from the 99 cents store . If you had one issue with your car it would cost you your entire weekly pay check and you’d be left with nothing and I’m assuming with a car worth 250 there was unlimited problems . I’m guessing you had help from your parents or lived off multiple credit cards or sugar dada
In Australia student loans are interest free. It blows my mind that she has 5-6% interest!! Wtf America
In India it's 10% onwards
CNBC make it had a woman who had a 50k debt increase over a year bc of interest. It's absolutely crazy
@@redunicorn7760 I know I remember watching that one! I honestly shuddered I don't see how she isn't constantly hyperventilating from that haha
WHAT??? I hate america
That’s partially true. Student loans in Australia are interest free when you’re in school. When you graduate and make more than $52k a year you’re charged a higher tax rate until the loan is paid off. - Students can take on higher debt limits for fields that will provide more economic value (STEM, Law, Business, Medicine). If you’re studying something that’s not going to provide great economic value you can’t get a higher degree like a masters or PhD.
NYC is expensive but there’s definitely ways to make it cheaper than many other cities. It’s socially acceptable to have roommates so there’s an easy savings right there. You also don’t need to own a car and you can get an unlimited train pass for around $100 (even less if you get from work pre tax). There’s also great local Korean markets with very reasonable produce and fresh herbs. In addition, lunch spots and coffee from the food trucks are very reasonable. The taxes are crazy but I think it can be a reasonable city. I lived in NYC and now Chicago and food was cheaper in NYC. I bring my own lunch now because the food around the loop (downtown Chicago) is terrible and a minimum of $15 versus $6 or so in NYC (if you go to a per pound buffet in midtown). Also I lived in Astoria, Queens for my first 5 years and there were plenty of great, reasonably priced food there and there’s some really cheap bars in Manhattan. I used to do dollar beer night at down the hatch in my 20s. But she’s doing great- great job!
Agree!!! Living in Brooklyn right now. There’s definitely a lot of things that you can spend your money on but there’s just as much of amazing cheap food, free or cheap entertainment and tons of young people living in similar situations.
Let’s be mindful that there are communities in NYC where accessibility to food resources and transportation is very limited or non existent. Brownsville and East New York lack grocery stores with fresh and affordable produce, so this forces people to spend lots of money on takeout and processed food.
Mary Banson very true but I don’t think those are the areas people are talking about when they say how expensive NYC is.
Agree. Food is cheaper in NY; housing not so much.
TruthShallPrevail4 I know it’s not apples to apples but housing can be cheaper since it’s more socially acceptable to have roommates so rent can be like $1200-$1400 if you have roommates vs other cities (like where I am in Chicago) you are weird for having roommates so you “have” to live alone which can be more expensive than that. My rent for the majority of the time I was in NYC was $750 (living with two people in Astoria, Queens), which was less than my fiancé’s rent in Indianapolis (living with one person). I also didn’t have the expense of a car and I saved more living in NYC than he did in Indianapolis with similar income. It’s definitely not apples to apples and I’m just talking about living in NYC in your 20s not when you’re older with a spouse and kids.
Engineering field is so over saturated, because people like Kevin keep pushing people to do it. There's a surplus of engineers and not enough jobs. Everyone said it was the best "job security", but COVID proved that theory wrong. In my city a vast amount of engineers lost their jobs. Some worked from home temporarily, then eventually laid off.
The only people that I have seen to have real job security are the essential workers and the medical field.
Engineering can springboard you into almost any field you’d like. I have a mechanical engineering degree and its uses are nearly unlimited. If you have an engineering “mindset”, people will always give your resume a shot. I’m currently a product manager for a large industrial company, because the technical field of engineering didn’t interest me as much as financials.
I actually work at an aerospace manufacturing company and was deemed essential by gov for some reason. Aerospace engineering in Cali is probably the best way to go here. A lot of opportunities and hiring for engineers
I would like to know what type of engineering
@brandon That's the whole point, right. You should only be doing engineering if you want to. Not because people are pushing you into it.
@@wandaNcosmo This is true. I studied Civil but ended up working as a manufacturing engineer for biotech company. I talked with other engineers in the company and I'm hardly the odd case.
He does realize that minimum wage in NYC is $15 so there are probable people living on 2/3 of that, right?
And he has said that raising minimum wage is insanity lol
@@EwYoureCringe you would say the same if you start paying $15 for a gallon of milk or $10 for a big mac. The higher the pay the higher the price dude.
Marcel Rodriguez I live in an area where the minimum wage is $15 and milk costs $2 and a big mac costs like $3. Wages are only a fraction of the items
@@EwYoureCringe i cann you for a fact that no small business can handle paying workers $15 an hour without it either going bankrupt or increasing the price of its products. Milk used to be $3 where i live and after they enforced the $15 an hour law you cant find milk cheaper then $5 now.
Marcel Rodriguez so they increased minimum wage and a gallon of milk is not $15? Lmao
Typical boomer scoffing at 16k in student loans. That is well below the average person’s burden. I graduated with 20k and I felt like I got out pretty unscathed. Does he not know how much college costs nowadays?
I graduated in 2019 with 30k and the interest bumped it up to 33k just before the pandemic. I got 5k left to pay off-
like how much does he think the people that serve him coffee make? does he think they live in another country?
Nobody serves him coffee, he's making his own coffee and it costs 18 cents per day - that's what coffee is worth.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. pray that anyone who reads this will be successful in life.
You are right, to be a successful person in life require him or her of hard work and Time
You are right. Been thinking of going into gold and cyptocurrency
@Benjamin I totally agree with you it has been an eye-opening experience for a lot of people.
She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her. She is obviously the best, trading with her gives me joy of earning
I came about Tiffany by a friend of mine and that is how I keep on trading over three months now. She had really made name for herself
Kevy went full boomer mode here.
No rich mode white liberal
@@alfredoalcantar8691 Isn't he a conservative?
@@alfredoalcantar8691 Ignorant dope. He’s Canadian and his political affiliation is with the Conservative party. That’s as far away from liberal as you can get. But your misdirected anger and jealousy is humorous.
Hey Kevin, engineering here in germany is absolutely overcrowded and a lot of craftmanships earn more money...
Engineering in South Africa is overcrowded. Most are unemployed
Engineering in America is not great either. You're not gonna get rich working as anything besides a software engineer. Becoming a doctor is much more guaranteed route to wealth.
Drew I mean there are hundreds of different types of engineering. And all the engineers from my college are making enough to be considered middle class at least right out of college. What is rich? I’ll definitely have a million in retirement at my current rate if the 7% growth holds up.
@@HylianVamp Middle class sure no disagreement there. If you're content with being middle class then engineering is a good path.
Yeah but in Germany college is a lot cheaper right if not free ?
Geez, when I was 23, I was still in school with no income. I hit $50k/yr in my 30's. The difference, though, is that I didn't have student loans. Anyway, she's doing so well for herself! I wish I was that mature in my 20's!
Keep in mind you are listening to someone who’s passion is money, what makes him happy is money
So... Like everyone?
that should be the passion of all of us to be frank
@@chrisdominguez5097 Maybe, but personally money isn't what drives me to get up in the morning, and I don't live for it
@@DonVinny The richest people in the world have depression and commit suicide for a reason
As soon as he said 16,000 was a lot for loans did I realize he's out of touch with this. He thinks engineering is the only path to riches...says a business major. Wait till he finds out how expensive it. She's making good income for a 23 year old, does her job have room to grow?
There are tens of thousands of people living in New York that are getting by on minimum wage. How is it shocking and impossible for someone to make 50k in nyc and live comfortably?
I’m just here waiting for graham to reach to Kevin reacting time 50k a year in Brooklyn
Wait for it!...Millennial Money
The Simple IRA part, where she says she puts in 5% and her company matches it - I feel like it would have been well worth clarifying that she may have 5% taken out, but an employer can only legally match/contribute up to 3% when it comes to dollar for dollar.
Two questions, how are her student loans so low and where can you find an apartment for less than $1000 in Brooklyn? Is it an ancient building with mildew and no AC?
Answer: Roommates. My rent is more or less the same, but I have 3 housemates. In a share house it's easy enough to reach such numbers
She said she had scholarships
I like the 30 seconds it takes for Kevin to find the pause button 😂
It's less than $40k after tax due to NYC having state tax and another type of tax, which is crazy.
Not really that's a problem everywhere in the US. About 15-25% is being taken out most peiples gross income.
Ha, if you think that’s bad you should never come to work in the UK.
@@aidankerr1125 what is the pay like there?
you should see income tax rate in Belgium ... it's 50% ...
@@sydniemerrick2353 not your entire income gets taxed with 50%, only the money above a certain number
"She cuts her own hair? So do I!" HAHAHAHHAHAHAHHA LOL
I love this advice - I wish I had my head in the game earlier!
I would to see Kevin reacting to offset or any complex video where celeberties spend 40k on shoes
You also have to realize the celebrity people are different species they are beyond Rich so they can afford $40k shoes. It is all relevant
If they earn anywhere between 10 to 100 times more than cost of shoe, I guess it's fine.
I thought Kevin always said he never had a job. He only worked at an ice cream parlor and got fired the same day but in this video he says he was a waiter working nights. Something not adding up
I remember in an interview, he talked about how his mother was restless worrying about his future before he started his business and his stepfather (who is still alive, and seems close to) said they were happy that he got himself sorted out in the end. IDK if he had a job after the ice cream shop thing.
Some of this advice is misguided. Students who study humanities catch up to their STEM peers as they move into management positions later in life. The key is making the right moves early in your non-tech career.
Right .. A world full of engineers and scientists and no one trained in mental health, working with children, the arts etc
@Josephine Bournes same, but with history. My degree helped build the soft skills I needed to effectively and compassionately communicate, manage a team, make decisions where there are no right answers, defend those decisions, work politics etc.
Agreed. I'm in grad school for library science. Our last Director made over $100k and was 39. Managers make good money, no matter what the filed.
Price reflects supply and demand. If there are too many engineers, supply will exceed demand and less people will become engineers. The same goes for what we would now refer to as 'useless degrees'. I just think that people should be aware of how much they need to pay for education relative to what they may expect to make, then make the smart decision. Prices indicate that the US doesn't need as many artists as we have now. And that there are not enough people in stem feilds. That doesnt mean that there shouldn't be any artists, or that everyone should be engineers. Make your own decisions, but learn to live with the economic consequences. Rather than asking society to subsidize your decisions. I would be saying the same thing if there was an under saturation of people in the humanities relative to stem.
@@Multi407D You have an Econ 101 understanding of the economy so I'm going to save myself some time and wish you the best of luck.
I had only about $20K a year in living expenses in NYC when I first moved there; I was able to pay off my student loans early and have decent savings because of that. I had what I believe was a rent stabilized apartment with roommates, and I didn't really spend that much time there because I was traveling a lot for work.
Learned a lot from this, thank you!! I especially enjoyed seeing Kevin O'Leary grin here and there while watching Elena speaking.
Love Kevin reacting! So good. 😂💛
"Some good degrees are engineering, engineering, and engineering"
Laugh so hard
I have a friend making around $40-50k a year in NYC, Brooklyn to be exact. So, yes, Kevin, you can live in NYC making $50k/year.
changed my major, and changed schools. Changed to Pace Univ, changed major to Business, (Financial Management, minor in Economics.) I dropped out due to marriage problems. no student debt. Have started my own business. An independent Record label, & music publishing co.
I chose to be stupid and have fun. I'm just turning 40 this year and i do not regret that decision. Ya i spent a few years catching up but 20s was the happiest time of my life.
Can't blame you at all. Right now I'm 19 making sure my 30's will be the best time of my life. Let's just say life isn't very exciting right now haha
Lived in Brooklyn on 25k a year plus OT (35k) in 2007 and 2008. It was my first job. Assistant to the creative director of Men’s Vogue Magazine (Conde Nast). I also supported my fiancé (who lived with me) at the time and only worked very sporadically.
It wasn’t easy. Most other assistants at Conde were on the same wage but were the sons and daughters of some of the richest people in the nation and went home to apartments on fifth avenue . I actually had to live on that wage and took the A-Train back to my apartment in Bed-Stuy.
Wouldn’t have changed the experience for the world though:)
When he said 50.000 before and 40.000 after tax ... as a European my jaw dropped to my 50% tax floor.
He was wrong, shows he doesn't know that tax bracket - she's probably taking home more like 32k after tax.
@@juliannewilkinson1943 on 50,000 income, I calculated 4,200 federal tax, 3,800 FICA, and 2,300 NY tax. A little less is she qualifies for some federal credits or deductions (such as student loan interest deduction), and a little more if she's in New York City. So I think 40,000 after tax is pretty close.
I dont think she takes home 40 either. ...but I guess now with the higher standard deduction she may. Although if they take benifits payment out....like health insurance
@@jessicabixler1658 I'm a tax accountant----she makes about 40k after tax. Yes, the standard deduction doubled and the federal tax brackets went down (meaning you could make more money and be in a lower bracket) starting in 2018. If she pays health insurance or 401k, then she would make less than 40k after these deductions.
@@joeb1522 She's also paying NYC taxes which is about another $1200 and NYFL another $140 per year. So she probably brings in $37000.
"ouch she starts with $16,000 in student loans"
*laughs in 6-figure med school debt*
ouch must feel heavy
Don't worry you'll be rolling in money soon enough
she's smart to do all this at 23. i didn't really do any investments until I was 35 and just put all my money into a high interest savings and regular checking account. I lived in NYC not too long ago getting around $36,000 after taxes and also in Brooklyn. The prices in NYC for rents really vary from expensive to more expensive neighborhoodfamilies). Paid $1,400 for a decent size 1b1b that wasn't a studio, so $16,800 a year on rent alone. My monthly utilities for everything were around $170-$200 a month=$2,400 a year. Mobile phone $200 a year. Laundry $20 a month=$240 a year. Food is amazing in NYC but once I started working a 9-5, I really only ate out 2x a week. I probably spent around $400 a month on groceries and takeout=$4,800 a year (most of what I buy is organic). If I went anywhere nice, I never paid due to it being a date (and no, I didn't deliberately date to get a free meal). Metro for the month $127 so $1,524 a year. Fun fund was typically just museums, inexpensive events, and getting cheap day of Broadway and off Broadway tickets. I maybe saw a play or musical 3x a month. Offhand I would guess my fun fund for a month was around $200 a month so $2,400 a year. Medications $30 a month=$360 a year and beauty products maybe $240 a year. Hair every 6 weeks $150 with tip so $1,200 a year. Pedicures every 6 weeks for $35 with tip=$280 a year.Roughly my life in NYC was $30,444 if my math was correct. $5,556 left over. Not a lot imo. I rarely bought clothing (if I did I bought on used, on Amazon, or at stores like TJ Maxx). Everything I typed out is deliberately on the more conservative side. Before I moved to NYC, I worked my way through high school and college and did not take out any loans. I also lived with my parents from 18 to around 25 which helped me to save (I still paid them "rent" from $500-$700 a month). I would have enough $ to go on 1 big trip a year and 2 short ones that were like under 5 days.
I cannot believe I just did this and really thought about my expenses but it was fun thinking about my late 20s.
$950 rent in NYC? 😳 where girl?
She probably rents a room
South bronx or are you one of those that think only manhattan and brooklyn are nyc? Lol
@@marcelrodriguez2067 Average room in Brooklyn is $1066/month so she's not far off.
This is why you have to understand how the cash-flow quadrant works
When you're earning enough, you can get a lot of savings from your income compared to those who earn less but have greater liabilities to take care of
@@christyjohnson9679 there are only but a few who are earning more than enough during this global pandemic
@@lucasanthony9704 only those who are still being dependent on their monthly income
The jobs we do now aren't reliable anymore, we can loose them anytime.
We obviously saw that during this global pandemic
@@lucasanthony9704 the few individuals who are earning more than enough now are those who have come to realize monthly income cannot make them successful
I once had an executive tell me when I asked for 13 an hour to keep my head above water (I was paid 12) "I honestly dont know how you survive on that" even though he was not going to give me the money.
Fr like where is the logic 😂
He doesn't know Latinos yet. We live with 25k a year.
Arkees Tech Zone With 34 roommates
Alex yes, that's when people don't have a family here. Most Latinos live in house and apartments with about 6 people. A $1500 rent/mortgage devided by 6 is $250 and that's just the tip of the iceberg on how a lot of people live and manage to grow there income and savings overtime.
Same here bro
First year in the US my mom made 19k. We survived but it was horrible. No one told us about food pantries or food stamps, that free school lunch really saved my life.
im a latino making 54k salary with just an associate's degree
I'm not from the USA but after researching it looks like London is more expensive than NYC. Here, people survive on 18k salaries, which is about 25k dollars...
People survive on that amount in the USA too. But this series continues to highlight people with decent wages who are just mismanaging part of their money by spending a ton on food etc. Realistically, people who make 25k are wayyy more creative on how they survive day to day and I’d like to see more profiles with people who live off that amount.
Check your research. The 3 searches I just did shows London 5 or more positions below NYC.
I do that too, I often look up events that are free. Some often even with free foods, so it further cuts the price down. I live in Christchurch, NZ, and this is how I bargained in my uni years. Another important thing is, I went out everyday, so I had a huge social network. This helps you in so many favours, such as getting a ride, and returning them with a $5nzd pizza shout or something. Advices, never feeling lonely, sharing knowledge, making the most of study and life together. Financially, well, cashing in altogether at events helps minimise costs too. It helps you feel fulfilled in life despite having less money as a student. Try it :)
This is the problem isn't it people like O'leary can't even imagine this scenario.Too many Kevin O'leary's
hes not wrong though. 50k in such an expensive state is a very minimal lifestyle. in most states you can be making like 30k a year and be able to buy a small home on a few acres of land. that doesn't happen in NYC, SF, LA, Seattle, Portland, DC etc. the average rent cost for a 1 bedroom apartment in NYC is around $2000 per month. thats what the mortgage payment would be on a $400,000 mini-mansion on acreage in an average cost of living state.
BIG GOVERNMENT IS THE ISSUE AND NOT THE SOLUTION bruh u can’t buy few acres of land in some states.Trust me, unless u have no responsibility bc their wages are very low
@@chroniclaw709 no offense but that was terribly worded and im not sure what you're saying. you can absolutely get an acre of land for 1000-3000$ in most states.
in my area i can find forested land with a spring fed creek for under $3,000 an acre
Objectively there are very few people as wealthy as Kevin O'leary, so actually there's not too many of him. There are far too many people drowning in debt with no real retirement plan, though.
In case you didn't know Kevin o leary wasnt born a millionaire, he had to grow himself to this point so he has obviously been at a point in his life where he was earning 50k a year
Graham is going to yell at that food.
That's twice the money my dad makes, he supports a family of six.
Lmao same
I so appreciate the commentary!
The best part about working in the fast food industry when you're young is that you can make your food expense be close to zero.
Miscellaneous: $420 and just happens to be green 😏
Hilarious no one is catching that
The “impossible” thing is click bait y’all. I think Kevin actually seems to understand where young/poor people come from
Finance guys would want young people to study engineering as that fuels the stock market but probably will tell their own kids to go into finance.
Majoring in finance is a waste of time. If you want to get into business go to the library it teaches more than school
Engineering doens't fuel the stock market LMAO. What fuels stock markets is the FEDERAL reserve, whose main defenders are bureaucrats + econ/finance people.
Plus you won't get proper jobs by studying finance. They want engineers lol.
[SBF]shabo exactly. Engineering is a way better major
Yeah I’m not going to plug in numbers into an excel sheet all day just to make a third of what I could make as an engineer. All these people are making money off investing which you don’t even need a college degree to learn how to do.
Im not living in a major city, but i only spend 20,000 USD per year, after rent food and so on, and i can save over half my income every month. Over half my food is import, meaning its imported using normal postal systems, so the prices are not inflated, and if i were to live in a city like new york, the rent is around doubled, with a few more money spent on food, so you can definitely live fine on 25-30k a year in new york in my opinion.
I lived off of $700 per month living in Venice, Ca in 2007. People can get by really cheap in any city on the earth if they try hard to not live expensively.
Interesting video but if the company is matching, it can't be an IRA. Probably a 401k
Not true, could be a SIMPLE IRA. Maybe she hasn’t actually looked at it.
She said it was a SIMPLE IRA. It’s for small businesses and they can match up to 3%.
She’s young she’s 23 so she doesn’t have to dye her hair that’s coming later 😂😂
OMG, no one HAS TO dye their hair. 😳
Right? Cringed at that so hard
Unless she's one of those that go gray early.
His hair looks great 😅
"In the debt to that guy" 😂 "pony up after thr 4th date" 🤣
What does that mean?
This is an EXCELLENT series to help young people learn how to do it. We used to learn this in the home but no longer. When I left home at age 17 to go to community college, I didn't even know how to balance my checkbook...Unfortunately, I learned nothing financial in my home. My father was always in debt and we four kids never had what we needed. His problem was one divorce, death and huge medical bills once (he had to sell out home to pay off the hospital bill and funeral for my step-mom. I actually learned what NOT to do from my father. He only had a 9th grade education and I knew that a college degree was my ticket out of poverty. I rented a room in a friends aunts home for $50.00 a month and worked full time as a cashier and put myself through school; two years community college and two year 4 year college. I also had $90.00 a month from my mother's Social Security that I put towards classes. I lives simply,, no vehicle, no insurance, no spring break trips (I was working) and iived in a college area house with 5 other girls to split costs. I ate a LOT of tuna fish! My primary goal was to get my degree as I was 100% on my own from age 17 on.
Here's the secret to getting by on any budget: if you're working and get moved (as I did), just rent a place and bide your time. When you're in that final job, or about to retire, buy a place. With an owned home, your costs become fixed, in general, you go on auto-pay, and just follow a budget. You're set unless something really unforeseen happens. As for me, my home in Texas was great until the great hovering hurricane. I had to give it up forever when water reached 7 feet high...
Will Graham be doing a review of a review?
Inevitably
@@jaketyler7088 Did you destroy your own like button on that comment?
@@flawaii-pines6858 I obliterated it.
As a European, you know what? You guys in the U.S. are completely obsessed with money, that's due to the lack of a safety net/welfare system guaranteed by the State and paid by every taxpayer, you guys have to change. Like really really have to change toward a more social-democratic system, you will see the benefits in your quality of life since day 1.
Cheers
People at top don't want this so they lie to the uneducated that this type of system will never work.
No, we like to have nice things we don't need, that's why we are obsessed with money.
Italy is a very corrupt country. Is the state taking good care of its citizens?
@@siqueira797 absolutely not enough, but still way better than in the US. First: the health care system is considered a universal right for every citizen, regarding his/her income and is funded by every taxpayer, second the social safety net is a lot bigger. We're doing worse than Northern Europe but immensely better than in the US.
How much tax does all of that "free" stuff cost you? Another European comment said her jaw dropped that this girl took home about 40k out of her 50k salary and said she is taxed almost 50% across the pond.
So she pays $950 for rent? She must be sharing a apartment with other individuals. I've been trying for the longest to get a apartment,studio for that amount but it's impossible..
Just lefty 2-room studio in BK because my landlord went crazy. It was nice paying only $900 per month for the last 4 years.
😭
She most definitely has roommates if she lives in the most expensive borough and that would be Brooklyn. The city is dropping rental rates but Brooklyn is still going strong with it's high rates. I look at the Next Door app and houses for sale near me are still 2.3 million.
@@agravery223 my mom bought a house in bed stuy for 300k now it’s 1.2 mil😳
@@agravery223 it depends on what part of brooklyn as well though
@@saptab1344 you know with 1.2 million you can retire where I live in Florida for that across the street from the beach and bonus you can watch rocket launches from your backyard
I'd bet a whole lot of money she uses tinder for food lol
In Canada interest on student loan are taxe deductible = whatever I pay in interest comes back at the end of the year. Therefore the student loan is the last thing you want to pay off. Interest rate : 2.95% .....
As she says "My family helped a lot through college"... Some or rather most of us hasn't got a background where we get support from.. Yet i can say i am doing well with my finances even if i can't really invest but i always have savings. Noone taught me anything about money.. Although i rahter die single than struggle for my family..
I love how he thinks they only take 10k in taxes a year off someone who makes 50k lol
sounds about right to me? what part of that is wrong?
I am 74yrs old. I make over $60, 000. I cut my own hair. When I retire, I get a pension. I am into investing. I have done fashion photography. Studied at nyu. Was a engineering student,( at ny tech.
3:18 as an aspiring engineer this made me smile 😁
civil mechanical chem and etc dont count in NA ... engineer = good at dicrete math = coding (ECE and SWE only basically) I was a MSE from low ivy.
This is by far my favorite Millennial Money