What A 26-Year-Old Making $360K A Year Spends In A Week | Millennial Money
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- Опубликовано: 27 июл 2021
- Alex Sanchez lives in Warrenville, Illinois and makes $360,000 a year. While Alex is generally mindful of his spending, his business expenses add up. Alex manages a lawn mowing company six rental properties, which each require weekly investments of time and money. In a typical week, Alex says he spends around $500. During the week of July 12-18, 2021, Alex tracked his spending to see where his money went.
Read more about Alex’s budget breakdown here: cnb.cx/2VHZihq
Alex Sanchez is a busy man. The 26-year-old earns $360,000 a year from his full-time job as an overhead lineman for an electrical utilities company as well as two side businesses doing lawn care and managing half a dozen rental properties. On top of all that, he has a 5-month-old daughter at home.
Because of his jam-packed schedule, Sanchez isn’t quite the saver that he was when he appeared on CNBC Make It’s Millennial Money series back in 2019. While he once cooked most of his meals, he now buys food more than ever.
“I’ll eat out a lot because we’re always working 16 hour shifts and I’ll forget to pack lunch or be too lazy,” the Warrenville, Illionis, resident says, adding that he recently worked 17 days straight without taking time off and occasionally clocks as many as 90 hours in a week.
He makes a point to bring protein bars from home to eat for breakfast in an effort to avoid eating out three meals a day and occasionally skips meals if he’s too busy with work. On average, Sanchez says he spends around $100 a week on meals out.
But on the bright side, Sanchez says that so much of his time on work sites limits his splurging to just food because “there’s only so much money you can spend when you’re not outside with your friends having fun.”
Sanchez spent a week chronicling his spending for CNBC Make It in July 2021.
Beyond food, many of his expenses go toward tools and materials that he uses to work on his properties. “Right now, I’m working on this house that I’m doing a whole lot of repairs on, like plumbing,” he explains. “I’m doing everything I can to make the property almost maintenance-free so I can have less headaches when people do move in.”
This week, he also took a surprise road trip to Miami with his girlfriend and daughter, which had been canceled several weeks ago but was revived at the last minute. The hotel stay cost him $876.
“Miami is expensive,” Sanchez says. “That kind of hurt because it wasn’t a 5-star hotel.” But, he says, it was worth it to be with his daughter for her first time traveling.
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60 hours a week as a lineman, plus managing a lawn mowing business, AND managing several rental properties? This guy's a hustler. He'll be a multimillionaire in no time.
I’m more interested to know how is he able to acquire 6 rental properties.
His net worth may already be in the millions.
@@asadb1990 he's 26, you think he bought his first property when he was 13?
@@asadb1990 “26 year old man in 2021 buys real estate back in 2008” lmao
I pray he lives long enough to enjoy the money.
When these episodes are filmed during a vacation week, I feel like they’re not as realistic and less helpful that they would be if it was filmed during a regular week 😕
Agreed! And I would have liked it if they had calculated his business expenses separately.
Exactly!! Not a true picture of an average week.
Facts
Agreed! The transparency of these videos is great, but I definitely prefer when they're more 'a day in the life'.
I want to see his regular finances... Not his business or vacation expenses.
He already has an episode out from about a year ago on “Millennial Money”
@@BeccaP007 but that isn’t up to date
Lol yea. These guys are all lame. Made me feel good being much worse off.
I would like to clear some things up: my eating habits aren’t this bad all the time. Most often times I do eat home cooked meals and I even try to meal prep from time to time. I live on my own with my girlfriend and have a loving mother who likes to feed me.
Please eat healthy 💪🏽
@@jester6909 he just said he eats healthy most of the time 🤦♂️
You have your priorities straight. Refreshing!
Lol! You are not eating healthy diet bro. Your life will be shorten by eating all junk food
If your eating habit is not bad like this video, why did you let them broadcast it
I remember the original story, congrats on becoming a dad!
Thank you!!!
Health is wealth . Start cooking food or hire a private chef
Is the chef gonna deliver the food to the job site or one of his rentals
@@truckingmoney485 private chef usually comes to your home to cook or deliver the meals to you. Doordash can deliver to his work.
He needs to take better care of his health by eating better food. He seems to be doing well financially but seems to be scared to spend. Money is a flowing system.
@Batirtze Urkiaga Etxabe 😂😂
Also doesn't make sense to buy $4 coffees. A single serve coffee maker is like $60, takes 5 min at home and drops your average cup to 25-40 cents per cup.
Life situations will seem to be painful and draining most times, but throwing in the towel so easily is never the mindset of any successful champion.
It’s hard to eat healthier when he’s spending that much time working on the go
They didn't show everything he eats.
Like you eat healthy 100% of the time?
Why is that every time there's one of these episodes, the family is going on vacation or there's something huge going on that forces them to spend a lot of money. I mean I understand the channel thinks this is what attracts viewers but I would love to watch an episode of his normal expenses just to see how manages his money under normal circumstances.
Agreed! Normal everyday life is much more relatable for these videos.
Thank you CNBC friends! I’ll keep up the grind to keep being featured. I’m beyond grateful!
Just shows do not need a college education. Just hard work and hustle
Why did your expenses say plane ticket to Miami $90, when you drove there ? I’m confused
@@starrkiya i flew back to chicago
@@AlexSanchez2254 ohhhh okay I assumed that but since it said “flight to Miami” I wasn’t sure. Thanks for clarifying!
I'm surprised that he looks so good after eating all that junk food
It's called youth. At 26 I ate like trash and got away with it. Now, not so much....
He moves a lot and work a lot.
For now. I say enjoy it as long as you can before your body says no.
Give him about 6 more years or so
They didn't show everything he eats.
I was a workaholic medical professional too with the clear intention of becoming debt-free and financially independent. I just quit my job and just moved to Portugal to live stress-free with my family on rental income and index funds. I’m a single mother, black and reached FIRE at age 41. Sometimes front-loading the hard work allows you to get to freedom earlier so you have more decades to enjoy your life as opposed to waiting until you’re 65. Best wishes to you all.
don’t hate the player, hate the game.
Definitely prefer the "Living on (insert dollar amount) a year" videos where we get an overall picture of how the subjects make and spend their money. Not this type of video where we look at one random week where there 'just happens' to always be a trip or some other major expense.
Is his diet really that bad? It's just Mexican food, Chipotle, and Chik fil A
Don't forget the iced coffee, alcohol & chocolate protein bars.
Yeah, it's weird, but then again he doesn't seem to have enough time to eat healthy because he works a lot + newborn baby
@@thanosthemadtitan5518 I get it, but prioritizing foods that provide essential nutrients to your body should make a tie for first place. My dad died in his 50's because his health came second to work and his family. Perhaps he'll be able to retire before it gets to that.
@@Cj-en4fj especially protein bar for lunch? The work he does is physical, how is he not hungry?
@@tonym8927 I was wondering the same thing
Why is a vacation trip and supplies for housing rentals included in the weekly budget?
yes, those a part of his business expenses, not personal
How did his income go from 230k to 360k? More interested to know how much his side hustles are generating on a net basis.
He’s head lineman now. Plus it look like more real estate properties
Protein bars are expensive! I buy a giant container of oatmeal for like $2. It lasts for a few weeks.
And it’s healthier!
nothing but sugar in those things
@@Randy-rs1cg people are legit dumb
I would invest more in healthy fresh foods if I was him. My uncle ate junkfood like him for decades and got a stroke at 52. He was never the same.
More than anything else your health is the best investment. Without it you're nowhere.
Agreed, without our health all the money in the world doesn't mean much. Health first, spending second, especially with a high income like what he's generating.
@@howtoadultschool My point! It's not like he can't afford to eat healthy.
@My Nameis Maybe she's a bad cook or has her own job plus the baby. Or the baby cries a lot or is highly energetic. Could also be that she goes to school in the evening. We don't know.....
She can still have her own life regardless of who pays the bills. But yes if the baby is an easy child and she has lots of free time it would be nice if she would cook a healthy meal once in a while.
Investment are stepping stones to success, investment is what create wealth
When you invest you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
Diversifying is the best key to investing and being wealthy
@@hanksflowell2994 You're right, one needs to diversify to have different streams of income
This guy is so committed to the hustle. He really deserves more homemade food every now and then, dang!
I can already hear, wait for it Millennial Money!!😂
How does someone with six rental properties only spend $500 a week? And who makes $360k and eats a protein bar for lunch? You couldn’t spring for Subway? 😂 Does CNBC even check if these ppl are telling the truth
@@P.90.603 doing what? If a job pays 200,000 a year it’s usually mentally taxing. So idk how your boss is doing his job with no sleep
Most people want to see what really 500k guy buys luxury cars, 5 bedroom home, boat, and jewelry but he’s broke living paycheck to paycheck. The reason he has 6 rental properties because he’s frugal
This mentality is why you'd probably be broke for a longtime
It’s nice to see an update on this guy!
I was spending much more on my wife and child at that time in my life, but Alex is very motivated and focused on his monetary goals. I made different choices, but I congratulate him on his success!
It doesn’t seem like he’s generous or taking care of his family. Selfish I must say.
@@mspikachu738 He makes $360K per year, and he's generous enough to rent a movie, buy a McDonald's meal & pay for batteries for his girlfriend's breast pump. I'd like to hear how Rosy supports herself and her child. Maybe CNBC edited this to make Alex look bad? At least Rosy's parents seem to look after them.
@@JohnPMiller
I know, everything was about his food or rental properties.
I found this inspiring. I had thought I worked hard, juggling a career and working sales floor (hated it and recently quit) but homie is a lineman by profession, lawn mowing business owner, and rental property owner/developer. Not the least of his responsibilities, a family to raise. He's 2 years younger than me has so much drive.
With all that junk food, he'll be spending more on medical bills down the road
Way to go Alex! You're killing it brother!!
No work life balance 16 hr days.Definitely not sustainable especially in a relationship with a child. Sounds like he’ll be headed for burn out very quickly. Best of luck 🤞🏾
I was a workaholic medical professional too with the clear intention of becoming debt-free and financially independent. I just quit my job and just moved to Portugal to live stress-free with my family on rental income and index funds. I’m a single mother, black and reached FIRE at age 41. Sometimes front-loading the hard work allows you to get to freedom earlier so you have more decades to enjoy your life as opposed to waiting until you’re 65. Best wishes to you all.
@@larabraver what did you do in medical profession because FIRE at your age is impressive and I know Portugal cost of living is good but still what did you end with?
Someone teach this man how to invest in proper nutrition.
This dude is putting in a lot of energy into his hustle. Amazing! I personally earn from rentals and more importantly my diversified portfolio. After my portfolio performance smashed over $180,000 returns from the last quarter, I have learned why analysts will talk, stocks will rise and fall but the market will always remain a cash den for people who know where to look.
That's impressive man. I am curious as to what kind of investment you make now that yields that kind of profit for you. I also find myself in need of a good investment plan currently. I am sitting on $300k which I feel is doing absolutely nothing in a savings account. I have my 401k maxed each year, IRA(yet).
@@ralfkun6557 If you are aware of the trending algorithmic method of investing, you might have heard about copytrading. I simply mirror trades from Susan Lynn Hoyt, a US registered advisor who you might have heard about or seen in the CNBC news. She's a genius in portfolio management and diversification.
@@bryanhumphreys1882 Are you giving her your money or the money stay in your account? And what does Susan Hoyt charge for her services?
@@bryanhumphreys1882 Just found her official website so I'll drop a mail right away. Thanks
Hey I ran a quick check on Susan Lynn Hoyt. She's FINRA regulated. Her certs are quite impressive and she seems checked out. Is she that good?
Very inspirational! I remember the first feature and congratulations on the new baby! On another note, If my man is making 360k, I'm making breakfast, lunch, and dinner - no protein bars needed, lol!!
my dad has been a lineman for the last 20 years in illinois and they make about 150k a year and living expenses are so cheap there. with how frugal this dude is and living in warrenville he's probably clearing more than some of these guys making a million in larger cities
6 rental properties by 26, what an inspiration, awesome stuff!
I remember The first time he was on millennial money! It’s awesome to see that he’s growing his portfolio and his income as well!
West Chicago is not the same as Warrenville. We see your click-bait thumbnail.
Give a realistic week when there aren't any vacations planned. -___-
This guy needs a CPA
Really curious how much of the 360k comes from his lineman job, lawn mowing, and rental properties. Do the first two really generate enough income to buy six properties @26?
There is a huge difference between the west side of Chicago and the actual town called West Chicago which is almost 50 miles away and is filled with the struggling poor.
Congratulations on your baby, saw you back a few months on Graham Stephen channel
This is a hard working guy with a plan. His frugality will pay off in the long run. Great work!
What plan??? Are we watching the same video?
lmao the angle was so awkward. I hate rich people stay rich by eating at home trope like no they stay rich cause they know how to write stuff off on taxes and already come from money
Exactly! They be acting like someone can save millions by eating oatmeal at home. Yes you can save some money but for most people it won’t be life changing. Give us some new tips we can use!
I've never seen Warrenville, IL referred to as "West Chicago" (in the thumbnail). West Chicago is actually another town near Warrenville... Maybe they meant West of Chicago? At that point, just say "Suburbs of Chicago".
I used to live in west chicago. Recently moved to Warrenville. I guess they used west chicago because of the last video they did of me.
@@AlexSanchez2254 Oh that makes sense! I was really confused for a hot second. My parents still live in Naperville so I am very familiar with the area
This guy works hard! It would have been beneficial if they'd calculated his business expenses separately though, the way we do accounting as entrepreneurs is really different than how we do accounting for a traditional employment salary. For example, writing off his business expenses in the long run actually reduces those numbers significantly depending on the tax bracket.
He should try out a meal subscription service. Cheaper than eating out, 1000x more healthy
It would have been good to know how did he amass the capital to have 6 rental properties. Is it a partnership with friends or family. The total scope of his finances are vague.
Their baby! Those cheeks. I die. 😍 I usually never believe when people go on about how bad the typical American diet it, but this made me better understand how it’s more likely than I realize. Lawd. It’s so hard-new baby, multiple jobs, family vacation. There’s so much going on! What a busy, overwhelming life. I hope his beloved is able to get some rest. New mom life is tough.
Wait. Why’d he spend $95 on a plane ticket but he drove to Miami ? 🤔
I was asking the same thing. What was the 95 for? But he drove for like 15 hours?
He flew back because he had to go back to work.
@@MariaMartinez-nn1xi you are gorgeous by the way!!!
@@SBelle84 thank you 😊
Millennial Money: hey let’s pick the week you have to renovate a house to track your budget.
How about ANY OTHER WEEK 🤣
So unrealistic 🤦
I really enjoyed the first time he was featured on the channel and it’s so nice seeing the continued growth
My dude Alex!!!! Way to go man
My man Ver! Thanks!
You spend far more than what you charge on a credit card in a given week. What about 1/4 of this monthly mortgage payments for each of his properties? 1/4 of his cell phone bill or streaming subscriptions? You didn't include his grocery bills from the previous week for the protein bars that he was eating. How about car insurance, home owners insurance, diapers for his kid, the gas that he used for the 15 hour drive? I think it would be far better to look at 3-6 months of total expenses and average them for a video like this to say what a "typical week" looks like rather than a snapshot of one particular week when he is going on vacation and renovating a building but also including some monthly, quarterly, and annual expenses into the equation.
By the way, what is the purpose of this video? 🤕
Why did he pay for a plane ticket if he drove to Miami instead?
I’m a CPA with a masters only making 65k 😭😭
I can’t fathom the gap between someone like him who earns and spends huge amounts of money compared to someone living in a poor country on 1$ a day. It’s like a difference of 1000 to 1. I mean even if he earns a lot he’s not part of an elite. He’s just a regular citizen, working in a high paying field, smart with money and investing and very hard working. I don’t know that gap is mind boggling to me.
Is that the guy you interviews a year ago when he made $100k or so? And now he more than tripled it? Good job! Cute family too.
Alex I want to be like you when I grow up. You’re too awesome! Congratulations on your baby girl💕
The baby is so cute! 🥰 congrats!
Wow, this guy is a beast! I'm so inspired and impressed! He said he did a 16 hour shift at work and drove 15 hours to Miami! What in the world?! SIR, that is alot! I be ready to quit my job after them long 12hr shifts, I couldn't even fathom what a 16hr shift would feel like lmaoo. This is the level of dedication and and hustle I'm trying to have 😂.
Great to see the behind the scenes of a hard worker!
Is he advertising protein bars!!??
Yo, this man is way too conservative, he can spend a bit more and allow himself to be healthy
agreed
And he's also a cub fan you can tell cub fans don't like to spend money
Baby is adorable. Nice income. Spending for one week was a bit high but it included a trip which im sure is not the norm.
Half of these were unexpected or one times expenses.
All the stuff for his rental can be written off.
He eats so bad, mostly junk food
I cringed watching this. Dude looks like he wants to save money by buying junkfood while in the end it will cost him dearly.
No thanks!
How do you choose people you film? Do they apply for it?
Yes, there's a link in the description box
Oh yeah congrats on the little one!🙌🏾
Dude is a super hard worker, respect
great inspiration, just gotta eat a little bit healthier lol
Can you do an update on most these past persons on millennial money
He ate good at his business lunch then bought her McDonald's 😂
Maybe she asked for McDonald's.
yep, and "girlfriend" and he has a kid with her?
@@misshoneynevercame4832 she actually did ask for McDonald’s lol
@@gennagresham3986 I noticed that as well but the way he rolls I don't think he's planning on getting married or maybe with a prene-up. That's fine, but I do hope that he sets up his kid for life if he ever dies prematurely.
@@gennagresham3986 yeah that’s pretty odd. I don’t think you should have a kid with a woman and not get married
My man is killing it. Lots of takeout though lol.
What about the cost of gas to drive to Miami... and then what about the cost of gas to drive back? I know there for plane tickets for Rosy one way for $95. I assume baby is covered in that cost too.
These videos are not value added at all. Instead, can we focus on his lawnmowing or rental property business?
0:57 Debit card why ! CASH BACK credit cards 💵
What's the use of your money if no good food!!!
Interesting to watch how people spend their money.
The vape pen lol 3:32
He doesn’t live in WEST Chicago, he lives west OF Chicago in the suburbs. Please clarify bc ppl who live here know! This is not the west side of Chicago.
Does his girlfriend pay for anything?
Awesome job man!
Just remember, this guy owns 6 homes while you own none. And you own none because this guy owns six.
It’s not his fault you don’t own anything
You know you need to feed the body, life is not all about money.
He works for ComEd?
If so that guy is making over 6 figures just from his 9-5 job
#Amazing
CNBC make it why do yall keep making videos of ppl spending habits WHILE ON VACATION. Everyone spend significantly more while on vacation so this is completely irrelevant to what he ACTUALLY spends in a week. That is what we are interested in.
His expenses does change everyday.
He’s doing a great job overall but that Micky Ds will eventually haunt him
He's quite the regular on this channel 🤣
Is he really 26? When did he start as a line worker? At like 18???
Averages 60 to 65 hours a week! God bless him man! Linemen don't get the credit they deserve! Their Heroes
I'm 28 and making only $30k per year before tax LOL
And you spend 25k a year ?
What is even a point of these weekly spending videos, stop it @cnbc
Not good to eat and feed his family poorly. Eating cheap fried food is very poor. At least feed your girlfriend (she is a new mom too) and kid properly. No point in making money and not spending it on your health. I'm happy for his success but some of his choices including food are not very smart.
Can we do average wage people
Just apply
This guy really hustles and is young - he'll do very well. The headline is a bit clickbaity though. $360K per year. I was like, "whoah, what does he do?". Well, I would guess a lot of that number is coming from rental income but see then you have ton of expenses on your rentals, so it's not like making $360K per year at Google. I have one rental unit. I never quote that income as part of my total when I talk about my income because almost all of it just goes to maintaining the rental. Sure, there are cap gains, but I'm not pocketing much.
He said he expects to reach 1mm net worth at 27, which is likely better than the average person doing 360k at Google
Imagine making 360k a year and still getting other people to buy lunch for you
Definition of cheap
Something intriguing about XRP and BTC has been on going for some time now,,,
Dude is on a mission. Next manny koshbin
This dude truly bossed up
$360K??? Make that money, Alex!!!😁✌💯