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In San Francisco it seems as though most people are multi millionaires. I know young couples in tech making $400,000 each. Imagine being a 23 year old couple making close to $1 million per year. $300,000 is considered middle class and houses are $2 million dollars.
I just talked to 3 buddies about finances who I would consider are doing better than me or at least on par with me. Then they started talking about their credit card balances that they were working on paying down. Realized I was the only one who could afford paying off credit cards every month and was still saving every month. Same mentality that helped my parents have a couple million to retire with.
Same here. Years ago I was jealous for people with a brand new car every couple years. Now I feel sorry for them. Never mind how much they make,but wasting money on stuff like cars shows how silly they are. Especially when some of them have to work extra hours to cover the cost of it.
My neighbor always changes his cars every two years. He leases Corvettes, Porsches, Teslas, Audis et. He writes them off and owns several care homes. It is not a waste of money as he is just enjoying his passion for cars. He can easily afford to have an expensive hobby.
@@mocheen4837 good for him, he sounds very financially blessed. Some will still consider that a waste of money, though, as that money could be used for something “better”, but that’s all subjective.
Spending money lavishly on non-appreciating assets, such as clothing, beauty supplies, and cars, doesn’t make you rich. Making your money work for you does.
1. You NEVER know how much debt someone is in. 2. You NEVER know how much money they're getting from family members. 3. You NEVER see the bad things about someone's life. They only show you the great stuff for mutual celebration or just plain bragging. 4. Try to only spend your money on the REQUIRED things and the things you LOVE. All the other stuff is a waste of money. 5. Money talks, wealth whispers. 6. You can never know if that person HAS money or is simply BLOWING money.
I worked as much overtime as I could when I was younger. I always saved and invested the extra money that I made. I used to work 65 hours per week and in the last few years cut my hours down to 30 hours per week. Now I work 3 days a week from home and I earn more than I did when working 65 hours per week. I try to use up all of my 8 weeks of vacation each year as well along with my 10 holidays. I really only work 9.5 months per year now. I spend more time with family, going to the gym, biking, visiting friends, gardening and home projects. It is nice to finally have a work life balance. I have been offered promotions, but I turn them down as I do not want to go back to a full time position.
@@mocheen4837haha people think working 60hrs a week is a lot this week I have work 60hrs of ot. normal week for me is 60hrs plus average 18hr of ot a paycheck throughout the year(56hrs a week is my normal weekly hrs plus 4 to 6 hours at a part time 2nd hobbie job) 18hrs of ot on top of the 112 normal hrs biweekly
Bought my first house for $80K in 2005. Before everyone jumps on me about housing prices, hear me out. It was 800sq ft and in a ROUGH neighborhood. 3 borded up and abandoned houses on my block. 10 more in the square block radius. Junkies and homeless people shuffling up the street yelling at each other all hours of the night, gun shots etc, etc. But you know what - that's what I could afford at the time. Sometimes you have to start at the VERY bottom because that's where you are in life.
I never look at what other people have or buy, I’m just happy with what I have and buy and save. I don’t have much and I don’t need much either I’m just happy with small things and the security that I don’t have debt but do have the money to buy something new if one of my things breaks down. I’m almost 60 years and I’m living on disability money so I already don’t work for almost 20 years and I’m just happy to be able to live the way I want.
I predict the loud and slightly tacky luxury labels will continue to fall out of favor for those who can easily afford it. It does seem like more and more people are doing exactly this, falling into debt to show off and impress others, which is only a giant red flag that they are NOT wealthy or rich. That’s how quiet luxury labels started trending. It’s for the truly elite who don’t need to advertise the fact that they paid $1200 for the sweater they’re wearing. They know they’re rich, they don’t need you to.
I am so glad that you mentionned # 5- "You are being stingy." As someone who saved and saved to have some money in retirement, I now find that I am afraid to spend that money or lost the ability to spend money on myself. I would love to see you do a video on this fear of spending which is probalby more common than we realize. It is called Chrometophobia. How do we overcome that fear of spending? Does anyone have the answer? Beware, you and many others may be on the road to this phobia too.
You have to find the balance. I pay myself a large percentage of my income first and then I have fun with what’s left over. Tomorrow isn’t guaranteed so you have to find time for leisure and experiences. You also have to remember that it doesn’t matter how much money you have saved as a working class or small business owner; if you lose your income, you will have problems even if you managed to squeeze every dollar for savings. You’d have to be worth north of $5mill to live comfortably off of your investments so unless you are close to that, you should ease up a bit and live your life while you can.
It's not that somebody has more money than me that bothers me. It's the fact that so many others seem to. If it's that easy to atqin, why do I feel like I'm always ten steps behind? I watched a video similar to this a few weeks ago then ran to the store for some things. I saw so many truck and boat combinations driving around that were literally brand new and easily cost upwards of 200k combined or more. The owners are roughly 35 to 45 which is in my age range. I just don't understand how so many people seem to do so well and I am only just doing OK at 37. It's exhausting.
Not everyone is going to make it out of this life at a high level. You just have to make it work with what you got. There’s happiness to be found even if you don’t have much. But you’ll never find it if you keep comparing yourself with those big trucks and boats. You can have dreams and goals to improve your situation. But keep it real.
I have a friend who had a used oil business. He picked up used oil products in routes. He started out with a oil truck that should have been in a junkyard. It was always breaking down. It had an old pump underneath the truck that would really, really struggle when the oil got down to twenty or so below zero. I rode with him sometimes and he'd be under the truck on a sheet of cardboard with his gloves off trying to get the pump going. I'd feel so sorry for him. He eventually built up a great customer base. He bought better trucks each time he had to replace them. Two years ago his filter truck which was used to haul used oil filters in barrels finally croaked so bad he couldn't fix it anymore. He called around and sold it to a junkyard telling them it was so bad he wouldn't allow them to drive it - they had to haul it by trailer. It had 1.2 million miles on it! Recently someone showed up who had a business in another state and bought his routes, trucks, oil tank storage farm and everything else. They haven't bought a better car or pickup or anything else except his took a trip to Ireland. Nothing will change for them except he has free time which is dangerous to men's health.
To remedy not comparing myself to others, I got completely off social media. I realized that for me, it was a waste of time and hurting my mental health. And to remedy spending more than what I make , I got rid of my toxic friends who expected me to spend the same as them when I am making way less in comparison. That is why I will never be friends with people who make more money than me. Just brings unwanted problems and drama.
Yes, I done the exatly same got rid of freinds, that expect me to use money all the time on stupid stuff, exspensive clothes, cars, going out and use money all the time. Now I much relax, and not so stress in life. I can save and invest more money.
What he said about social media being just a ‘highlight reel’ is absolutely true. Even prior to the internet and social media human beings just have a natural inclination to ‘put their best foot forward’ as the old saying goes and present themselves in their best light. The little unpleasantries in their lives they try and keep out of sight. Just try and be the best version of yourself and do the best you can - that’s what really matters. I know a few wealthy people who I think are jerks and I wouldn’t want to be them and their material wealth does not impress me in the least.
Except watching RUclips I’m not on social media, others clearly are… as I set enjoying a coffee outside (I live in a harbour) to people got out of their cars in workout gear, all they did was stretch and take pictures and got back in the car 🫣 I almost made me sad for the people, living your live like that.
If you own luxury cars, houses, watches, etc. you are the slave to the corporations you work for, bought those items from, and you borrowed from to buy those items. You are spiritually poor. If you instead enjoy activities such as gardening, making music, walking you are the rich person no matter your wealth because you own your own time, our most valuable asset.
Not everyone is broke. A lot of people have seen net worth growth over the past 4 years. Some people have equity in many different markets and solid cash flow; not everyone is pretending.
I would throw in #7- the other person got their cool stuff way cheaper than you think (second hand, clearances and sales, coupons, etc.) I have a lot of nice things like a designer bag, brand name clothes, and expensive wooden toys for my son… but they were all just great thrift store finds that cost me only a few dollars each.
In the US its called getting into large amounts of debt. To impress others. Most but not all are doing this. My guess is that 85 percent of single people are making 65k or less in the US. The median single person wage is at 54k so my guess cant be too far off. Those Facebook friends are struggling. Trust me. With those wages you cant be going on all those trips and have new cars and stuff without large amounts of loans and debt.
Is it even that much? I just Googled and it suggested $37,585. Perhaps your number is for full time jobs only. But you get all of this social media that makes people think that if they're not earning six figures by 25, they're a loser, when almost no-one is.
Here's a question that hits me every time I see this "the average American has $20k in credit card debt..." Is this to say that all the people with no CC debt averaged in, or is it just the average of people who (currently) hold debt? Because if it is that first scenario, that is scary.
I'm a new attorney still living like a broke student. I worked full time all through law school but I still had to take out student loans and I want to pay them off as soon as possible.
I've been frugally spending for 4 years and investing most of it. I can tell you that after next year i will absolutely be in the 2% club. All the clothes i wear are cheap, i drive a 15 year old car, cook food at home. Everyone says why don't you buy a car? What if i told you if i wait, my investments can buy me 3 cars plus a house, and vacations whenever i want. People don't understand the power of investing. And live below your means.
If your having to drive your new Bugatti Chiron to the food bank you’re car too expensive I like watching Never Too Small it really show how people can live luxurious & comfortably in a smaller space that has everything you need
I still drive a 2010 Kia forte. Debt is all payed off and have a ok paying job. What gets to me is seeing people enjoying life having a great work schedule and going out in the weekends. I feel like everyone around me is doing great career wise making good money with a great schedule. It’s hard to justify if I should go to school to get a better job and schedule but I don’t not want to put my family in debt.
Whenever I see someone with a new car, I just assume they don't own it. Either it's on credit or it's on lease. Same when people have the brand new iPhone.
@@aaronkelley3865 Good for you. but let's be honest, you're the exception. I saved and paid for my master's degree in cash too, but I know that most people are taking a loan to get one.
I often compare myself downwards against others. Take a drive around the slums on the other side of the tracks with tarps for windows and roofs caving in on roads with plant life growing out of the potholes and sidewalks. You'll soon realize that you are actually doing pretty damn well.
I don't know. Everything seems under control. You go to the restaurant. It's full. The highway is full. It's not a small car anymore with holes or rust. It has been a while since I saw that. No it's the brand new model. Also better than what I have. Costco? No problemo. Let's take a kart. There's an event somewhere? Let's roll. No worries. Then you see reports and it's bananas. It doesn't make any sense. Something will break and it will be hell. At one moment yes.
Love your content…..Here’s a thought when it comes to comparison. Everyone defines luxury differently. My sister loves to travel. I love the my bed and luxurious sheets. She loves new cars every two years. I love snuggling with my 3 dogs. My life would not change a lick if I was a million dollars richer….love my house, my hobbies, and having all my friends too far away to get together. What are your original thoughts? I would like to hear your thinking….how YOU think about life, Most of what you say, is out there…..
I have no debt and good savings. My car is 10 years old and is a small car so the day to day running and maintenance is much cheaper than most other vehicles on the road.
When I was younger I wanted that beautiful apartment, nice car, designer clothes etc etc. When I started making more money, I was able to get all of those things. I quickly realized that I don’t need that to be happy. Today I’m so much more practical for example my husband and I share one car and it has 115,000 miles on it and it’s 10 years old. It works just fine and gets me from A to B. I don’t need to keep up with the Jones’s
My high school friend grew up on a dairy farm. He'd complain every week after trying to grind corn cobs shoveled into a machinery that turned corn, soybeans and other ingredients into fees for the cows. The !machine broke every time they used it. Why couldn't they afford a better feed grinder? They weren't poor! What's wrong? Then his dad died. The three brothers and uncles were standing around trying not to cry when three suits showed up a very nice car. They said the were.from Piper Jeffrey and Hopwood. They were hoping the family would keep their investments with them. Everyone perked up. What investments? You have $600,000 with us. Can it stay with us? At least until we can talk to you and your mother? $600,000 was a lot in 1978! A. said their father got the wall street journal, barrons, fortune, business week and every finance magazine there was and would sit in his rocker and read when everyone else went to bed. Turned out he was a financial genious.
I hit reply by accident. Eventually, the boys got $200,000 each and their mother got the farm and the investments. The only n thing they bought in.A burst of euphoria was a better feed grinder.
Delayed gratification is a biggest sham. Work hard your whole life, through your prime and health to enjoy maybe 15-20 year of financial freedom in your old age and sickness. Living in the moment is the best thing while you can still enjoy it, take that vacation on a credit card, buy that 911 Turbo, build those memories while you’re still young and healthy.
You’re right. People today live in the now, they are keeping up with trends and likes to flaunt. After this, what do they feel in the long term? Won’t they be tired and bored hanging on to flaunting and be famous? At some point they will. One of the most extreme i know, when a guy sold his one kidney just to buy an iphone15😢
Generally I loose interest in most thing that I can buy. I newer borrow to anything - borrowing to semi luxury goods is not being rich. It's being poor. Most people can increase their house loan and buy a submariner. You are rich if you pay for it cash and can use it as a daily beater... People are silly.
I have a close friend who just lost his house due to second mortgage debt, credit card debt, and overdue property tax. If he and his family had cut their expenses by $1,000 per year for the last 25 years, they'd still have their house. Don't believe people who tell you all those little expenditures don't matter. They matter!
I’m one of those people who don’t care about luxury brands. If it’s comfortable, I’ll buy it. Quality and durability are my main standards when buying stuff. I make 6 figures with no debt, no kids, no car, no mortgage (I rent). I invest 20% of my income (50% in dividend growth stocks and 50% index funds). The rest I budget for my day to day and travel fund. I like 5 star hotels and 5 star vacation packages. I would pay for a business class seat if it’s not insanely expensive because travelling brings me joy. I go on a trip every 3 months to make me always motivated to do my best in my job (senior role in tech) looking forward to my next trip. I budget and make sure my needs are taken care of and whatever is left, I splurge on things that brings me joy ❤. DO NOT EVER COMPARE YOURSELF WITH OTHERS. If you can pay for things that brings you joy without ever going in debt, then you’re doing really well compared to majority of people.
I tend to buy what I like and if it happens to be an expensive luxury item so be it. I also love cars so I typically will own a sports car. I enjoy mountain biking and will spend $7000 on a mountain bike. I also like sneakers and have an extensive collection of Jordans which I get 40% off from my cousin that works at Nike. I collect watches and only buy one every few years due to the prices. You only have one life so try to find a balance to have things that you enjoy. You also need to save and invest for the future.
I'd make that case that comparing yourself to others is mostly involuntary or is at least very difficult to control. It stems from emotions involving inadequacy and wanting to be admired or accepted, and if you've struggled with that, then there's no "off switch" to stop comparing yourself with your friend who make a lot of money or has a really attractive spouse.
Comparison is the thief of joy for sure. Plus, like you said, there is always a bigger fish. Building wealth is a worthy process. But It Is A Process indeed.
I'm happy I don't get too caught up in the comparison game. Focused on getting out of debt. I'm almost there, and it feels amazing. I haven't been debt free in years! I want to purchase a new car (to me), but I refuse to get a car loan. I think being able to say I'm 100% debt free will be the ultimate flex.
Man I love your content and now that I started my own channel where I discuss my handyman/ home repair business I realize just how much work goes into content. I’m in the messy and new phase but you certainly inspire me!
When I was a kid we farmed. All our friends were able to buy new machinery, new pickups (and cars), go on trips, generally be bigshots. We had a good operation, some of the best dairy cattle anywhere and mom had a good job. Thongs were good but we didn't have flash of any kind. Dad would say how can things be so good for everyone else but not us? We went to the bank and mention the word Harvestor silos which were the must have grain or cattle feed storage. They were 60 to 80 feet tall, dark blue steel which exclaimed look at us! I would go to agriculture class and the teacher and I argued all the time. If you had enough to buy 1/4 of four farms or all of one farm? I'd say how about 1/2 of two farms? He was relentless. When you go to the bank take every bit of the money they'd loan you and find something to buy. We'd, my dad, brother and I, would mope around wondering what the he'll was wrong with us. There was sanity here and there. Not every one would drive in the yard and see dad pushing a wheel barrow across the yard with four tool boxes on top then say "If you farm with junk you have to be a good mechanic!". That actually happened and it was hilarious. Dad would take me along to see the banker. I'd say the word Harvester and he'd light right up " If you decide on a Harvester I'll find you financing from another bank but you won't get one dime from us. Then the 1982 agricultural collapse came. Every one of those people who were flashy showoffs either went broke or quit farming. It was like a finacial plague went through ripping the guts out of so many. That was also the year we paid off the farm. HAH!
The Marshmallow Experiment to test the kids that are more prone to instant gratification. If you're a parent of a child that would rather eat the marshmallow now instead of waiting to get two you need to put more energy into teaching them the benefits of waiting otherwise they will most likely not succeed in life!
The problem I had is I came from a family who struggled with money. Then I wanted to leave home at the age of 18, I went into debt and got a student loan. Biggest mistake of my life. Got a credit card and worked up even more debt. Met my girlfriend who has been living at home and never studied, saved like an absolute champ and is so far ahead in life that I'm behind and she wants to travel and I cant afford it. Never been so motivated to start sorting my finances. School should have taught us better...
I always felt behind until I actually looked around and realised my wife and I are very well off by comparison. New car paid for with cash, we have no debt, 6 months worth of expenses in an emergency fund account and 2 years worth of salaries in a savings account, we are 28/29. We also consistently put 15% of our income into retirement.
Amen. I've come to realize that I have no idea what's going on with someone's finance from a single glance. A millionaire might be driving that 20-year-old Honda, and a broke-dee-broke might be driving that new SUV.
I am from germany and its crazy how much credit card debt is a thing in America. I don't know anybody how is having credit card debts. Could be because of my surroundings, but its not really a thing here. And the over 120 Dollars per month for mobile phone payment really shocked me
Yeah well 5 yr old out of warranty cars are 20k now so not exactly cheap and insurance varies but the minimum to get a car that won’t have major issues for the average non-mechanic in a suburb isn’t exactly unnecessary consumerism. My 12yr old car I found exactly 1 of the same car on the market to replace when the engine died for no less than 7k cash private deal and back in 2017 when I was shopping the dealers would not finance anything under 10k…. Rust and sun damage are also a thing in certain areas. I’d bet that many people are in that situation between I need this car now or I’m going to get fired and lose my housing and hmm yeah I don’t really want to go into debt for this base model white Corolla.
@@mocheen4837lol nah hybrid station wagon 4 lyfe. Too bad Prius v weren’t “more popular”. I’m so not a mechanic therefore I try to stick with really similar vehicles for as long as possible so the maintenance requirements are more familiar.
My cars are older and paid off, I hate the idea of having car payments unless I was just sitting on the cash to pay off the car and wanted to do something else with 30k that might pay more than the loan. I have credit card debt, I hate it, I'm busting my ass trying to get it paid down.
I don't understand why I wouldn't want people to have more than me. I am not setting the world on fire but I'm doing OK, so I hope that all my friends are doing at least as good as I am. I don't want to be doing better only because they are doing worse.
The covid crash was when I stopped caring what other people do. I thought I was doing average but I seemed the only person who investing alot and made alot in my large circle in a higher cost of living area. Someone I know even mentioned having no cash to invest, another bragged about making 10K. For those who don't know, 10K gains are tiny for how bad the crash was and how quick the recovery was. Put another way, the "rich" people weren't rich. It was actually awkward because I genuinely thought they had money with how they live so I'd ask how they were handling the crash and they were like "I wish I had money!"
I lived to close to the edge when I got my first real job for many years, I think it comes from not having much or you family not buying certain things. I know that's how I was but finally worked up enough to now afford most of it without debt and am going to continue building. My Next car will be paid for in cash or a very large percent down and paid for in a year or two not 5 years and some down.
Oh please… there are people making $250k combined with no kids in a low cost area. No, not everyone is maxing their credit cards. My available credit is $25k and my balance right now is $450. I still like using cards but I never max them!
I have friend she’s stay home mom only her husband work , her family always vacation. last year she went to Newzealand or usually her family go there every year for like 3 month. This year she went to Europe, Asia ( Indonesia “ Bali, Jakarta, Komodo Island “ , Thailand , Korea, Japan . Thailand , Korea and Japan she went twice this year . Also she went vacation locally. Sometimes I feel envy, but now I try not to see social media just try to be grateful.
If you compare yourself to the environment you live in, then chances are high a lot of people will have more money/wealth than you. If you look globally and are watching this video, you're probably not on the bottom. the real question is, who has a fuller life? That equation has a lot more elements in it.
I never felt the need to keep up with any Joneses, not with cars, houses, or material things. I am however good naturedly envious of some people i know who have retired early or don't have to work at all. Must be nice. I don't begrudge them of this freedom. I hope to achieve the same financial freedom for myself eventually.
I was waiting for Stingy one ! Lol I personally know a ton of ppl that are extremely CHEAP ! they complain they can't do anything yet I remind them they actually make way more money than I do , they have $200k in the bank are in their 40s and haven't even left the state they live in , it literally kills them to spend $600 on a quick getaway to Florida 😂
The richer I get the more poor I dress. I had to begrudgingly buy a new car because my 7 yr old car got stolen, but I'm the type to who drives the car down into the ground. A beater car would have been nice but I bought new because I'm thinking of retiring with it.
So here's the Story: My friend is rich. Why? I wondered. The back story is his Grandmother was raped in a nursing home and the place was sued. The family got the 3 billion and started their own businesses. Some succeeded and one went to prison. You never know..so don't envy others.
I would stay low profile even if I have tons of money. Just create a stream of income and live comfortably. I don't need affirmation from other ppl lmao
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People don't want to have a million dollars, they want to spend a million dollars, which is the fastest way to not have a million dollars
ironic.
Give me 1m i wont spend anything
@@penguingobrrbrr353 so you don't need it. What's the point of being a millionaire and not being able to spend?
@@famicomnintendo good point.
In San Francisco it seems as though most people are multi millionaires. I know young couples in tech making $400,000 each. Imagine being a 23 year old couple making close to $1 million per year. $300,000 is considered middle class and houses are $2 million dollars.
Stop using social media and your life will be quieter and more peaceful. What you don’t see doesn’t hurt you. You do you- period. ✌️
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Love this
I never judge myself based on other people. I unfortunately judge myself based on my own, often times unrealistic expectations
Me either
I have the same issue.
Same😢
That might feel bad on a small day to day scale, but it is wonderful in years scale as it pushes me to do the very best I can
I am in my mid 30s and drive a crappy car. But my mortgage is almost paid off.
Amen to that, cars are a depreciating assest anyways.
That's insanely impressive
Very smart and impressive
Comparison is the thief of joy 🔥🔥🔥
Amen!
Unless you actually are Jones.
I just talked to 3 buddies about finances who I would consider are doing better than me or at least on par with me. Then they started talking about their credit card balances that they were working on paying down. Realized I was the only one who could afford paying off credit cards every month and was still saving every month. Same mentality that helped my parents have a couple million to retire with.
Wow share some just a little…don’t mind few bucks there is hunger in the land😭😭
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When you see others with new cars every two years you have no idea how much debt they are carrying. I’m happy with what I have living debt free.
@@SassySue67 completely agree. They’re usually on finance and they never actually own the car outright
Same here. Years ago I was jealous for people with a brand new car every couple years. Now I feel sorry for them. Never mind how much they make,but wasting money on stuff like cars shows how silly they are. Especially when some of them have to work extra hours to cover the cost of it.
My neighbor always changes his cars every two years. He leases Corvettes, Porsches, Teslas, Audis et. He writes them off and owns several care homes. It is not a waste of money as he is just enjoying his passion for cars. He can easily afford to have an expensive hobby.
Or they lease
@@mocheen4837 good for him, he sounds very financially blessed. Some will still consider that a waste of money, though, as that money could be used for something “better”, but that’s all subjective.
They are heavy in debt with credit cards
A lot of them are
Spending money lavishly on non-appreciating assets, such as clothing, beauty supplies, and cars, doesn’t make you rich. Making your money work for you does.
" They Actually DO" I feel soo much better😢
@@SpinachDip-k8h 😂😂😂
1. You NEVER know how much debt someone is in.
2. You NEVER know how much money they're getting from family members.
3. You NEVER see the bad things about someone's life. They only show you the great stuff for mutual celebration or just plain bragging.
4. Try to only spend your money on the REQUIRED things and the things you LOVE. All the other stuff is a waste of money.
5. Money talks, wealth whispers.
6. You can never know if that person HAS money or is simply BLOWING money.
Don’t compare people’s highlights reels to your behind the scenes.
everybody be taking vacations when i’m struggling working OVERTIME just to survive 😭
And they're paying with credit cards. And drowning in credit card debt.
@@JasonCasey-mm2zc Not always. I suppose many carry debt, or go on vacation and pay it down over 6 months etc.. both pretty bad ideas
I worked as much overtime as I could when I was younger. I always saved and invested the extra money that I made. I used to work 65 hours per week and in the last few years cut my hours down to 30 hours per week. Now I work 3 days a week from home and I earn more than I did when working 65 hours per week. I try to use up all of my 8 weeks of vacation each year as well along with my 10 holidays. I really only work 9.5 months per year now. I spend more time with family, going to the gym, biking, visiting friends, gardening and home projects. It is nice to finally have a work life balance. I have been offered promotions, but I turn them down as I do not want to go back to a full time position.
@@mocheen4837haha people think working 60hrs a week is a lot this week I have work 60hrs of ot. normal week for me is 60hrs plus average 18hr of ot a paycheck throughout the year(56hrs a week is my normal weekly hrs plus 4 to 6 hours at a part time 2nd hobbie job) 18hrs of ot on top of the 112 normal hrs biweekly
Working anything over 40 hours a week is moronic. Sounds like you need to change some things in your life.
Bought my first house for $80K in 2005. Before everyone jumps on me about housing prices, hear me out. It was 800sq ft and in a ROUGH neighborhood. 3 borded up and abandoned houses on my block. 10 more in the square block radius. Junkies and homeless people shuffling up the street yelling at each other all hours of the night, gun shots etc, etc. But you know what - that's what I could afford at the time. Sometimes you have to start at the VERY bottom because that's where you are in life.
I never look at what other people have or buy, I’m just happy with what I have and buy and save. I don’t have much and I don’t need much either I’m just happy with small things and the security that I don’t have debt but do have the money to buy something new if one of my things breaks down. I’m almost 60 years and I’m living on disability money so I already don’t work for almost 20 years and I’m just happy to be able to live the way I want.
I predict the loud and slightly tacky luxury labels will continue to fall out of favor for those who can easily afford it. It does seem like more and more people are doing exactly this, falling into debt to show off and impress others, which is only a giant red flag that they are NOT wealthy or rich. That’s how quiet luxury labels started trending. It’s for the truly elite who don’t need to advertise the fact that they paid $1200 for the sweater they’re wearing. They know they’re rich, they don’t need you to.
Now people will rob you without any consequences. So it is not safe to have nice things.
I am so glad that you mentionned # 5- "You are being stingy." As someone who saved and saved to have some money in retirement, I now find that I am afraid to spend that money or lost the ability to spend money on myself. I would love to see you do a video on this fear of spending which is probalby more common than we realize. It is called Chrometophobia. How do we overcome that fear of spending? Does anyone have the answer? Beware, you and many others may be on the road to this phobia too.
You have to find the balance. I pay myself a large percentage of my income first and then I have fun with what’s left over. Tomorrow isn’t guaranteed so you have to find time for leisure and experiences. You also have to remember that it doesn’t matter how much money you have saved as a working class or small business owner; if you lose your income, you will have problems even if you managed to squeeze every dollar for savings. You’d have to be worth north of $5mill to live comfortably off of your investments so unless you are close to that, you should ease up a bit and live your life while you can.
It's not that somebody has more money than me that bothers me. It's the fact that so many others seem to. If it's that easy to atqin, why do I feel like I'm always ten steps behind? I watched a video similar to this a few weeks ago then ran to the store for some things. I saw so many truck and boat combinations driving around that were literally brand new and easily cost upwards of 200k combined or more. The owners are roughly 35 to 45 which is in my age range. I just don't understand how so many people seem to do so well and I am only just doing OK at 37. It's exhausting.
Not everyone is going to make it out of this life at a high level. You just have to make it work with what you got. There’s happiness to be found even if you don’t have much. But you’ll never find it if you keep comparing yourself with those big trucks and boats.
You can have dreams and goals to improve your situation. But keep it real.
I have a friend who had a used oil business. He picked up used oil products in routes.
He started out with a oil truck that should have been in a junkyard. It was always breaking down. It had an old pump underneath the truck that would really, really struggle when the oil got down to twenty or so below zero.
I rode with him sometimes and he'd be under the truck on a sheet of cardboard with his gloves off trying to get the pump going. I'd feel so sorry for him.
He eventually built up a great customer base. He bought better trucks each time he had to replace them.
Two years ago his filter truck which was used to haul used oil filters in barrels finally croaked so bad he couldn't fix it anymore. He called around and sold it to a junkyard telling them it was so bad he wouldn't allow them to drive it - they had to haul it by trailer. It had 1.2 million miles on it!
Recently someone showed up who had a business in another state and bought his routes, trucks, oil tank storage farm and everything else.
They haven't bought a better car or pickup or anything else except his took a trip to Ireland.
Nothing will change for them except he has free time which is dangerous to men's health.
Until my friend with a nicer car asks me to lend him some money lol
It happens all the time 😅
😂this amazes me. Priorities? X
My friend with all the nice cars offered to lend me $40,000 when I was car shopping because interest rates were 4%.
To remedy not comparing myself to others, I got completely off social media. I realized that for me, it was a waste of time and hurting my mental health. And to remedy spending more than what I make , I got rid of my toxic friends who expected me to spend the same as them when I am making way less in comparison. That is why I will never be friends with people who make more money than me. Just brings unwanted problems and drama.
RUclips is social media. FYI.
@laundrygoddess4 True. I completely forgot. Thanks. But it's not as bad as Instagram and FB.
Yes, I done the exatly same got rid of freinds, that expect me to use money all the time on stupid stuff, exspensive clothes, cars, going out and use money all the time. Now I much relax, and not so stress in life. I can save and invest more money.
What he said about social media being just a ‘highlight reel’ is absolutely true.
Even prior to the internet and social media human beings just have a natural inclination to ‘put their best foot forward’ as the old saying goes and present themselves in their best light. The little unpleasantries in their lives they try and keep out of sight.
Just try and be the best version of yourself and do the best you can - that’s what really matters. I know a few wealthy people who I think are jerks and I wouldn’t want to be them and their material wealth does not impress me in the least.
Except watching RUclips I’m not on social media, others clearly are… as I set enjoying a coffee outside (I live in a harbour) to people got out of their cars in workout gear, all they did was stretch and take pictures and got back in the car 🫣 I almost made me sad for the people, living your live like that.
If you own luxury cars, houses, watches, etc. you are the slave to the corporations you work for, bought those items from, and you borrowed from to buy those items. You are spiritually poor. If you instead enjoy activities such as gardening, making music, walking you are the rich person no matter your wealth because you own your own time, our most valuable asset.
Not everyone is broke. A lot of people have seen net worth growth over the past 4 years. Some people have equity in many different markets and solid cash flow; not everyone is pretending.
I would throw in #7- the other person got their cool stuff way cheaper than you think (second hand, clearances and sales, coupons, etc.)
I have a lot of nice things like a designer bag, brand name clothes, and expensive wooden toys for my son… but they were all just great thrift store finds that cost me only a few dollars each.
You’re a smart shopper
Me too. Wizard level thrifters!
In the US its called getting into large amounts of debt. To impress others. Most but not all are doing this. My guess is that 85 percent of single people are making 65k or less in the US. The median single person wage is at 54k so my guess cant be too far off. Those Facebook friends are struggling. Trust me. With those wages you cant be going on all those trips and have new cars and stuff without large amounts of loans and debt.
Is it even that much? I just Googled and it suggested $37,585. Perhaps your number is for full time jobs only. But you get all of this social media that makes people think that if they're not earning six figures by 25, they're a loser, when almost no-one is.
Here's a question that hits me every time I see this "the average American has $20k in credit card debt..." Is this to say that all the people with no CC debt averaged in, or is it just the average of people who (currently) hold debt? Because if it is that first scenario, that is scary.
I'm a new attorney still living like a broke student. I worked full time all through law school but I still had to take out student loans and I want to pay them off as soon as possible.
I've been frugally spending for 4 years and investing most of it. I can tell you that after next year i will absolutely be in the 2% club. All the clothes i wear are cheap, i drive a 15 year old car, cook food at home. Everyone says why don't you buy a car? What if i told you if i wait, my investments can buy me 3 cars plus a house, and vacations whenever i want. People don't understand the power of investing. And live below your means.
People confuse debt with wealth.
6:33 While you do start to feel like everybody else is able to afford food. HAHAHA
If your having to drive your new Bugatti Chiron to the food bank you’re car too expensive I like watching Never Too Small it really show how people can live luxurious & comfortably in a smaller space that has everything you need
Brilliant as always 💚 Definitely companion, judgement, and (most) social media only hurts you. Have a Favorite day! Great Video!
So true!
Been on mint mobile for 4 years... it's great I'll never go to anything else
I still drive a 2010 Kia forte. Debt is all payed off and have a ok paying job. What gets to me is seeing people enjoying life having a great work schedule and going out in the weekends. I feel like everyone around me is doing great career wise making good money with a great schedule. It’s hard to justify if I should go to school to get a better job and schedule but I don’t not want to put my family in debt.
Whenever I see someone with a new car, I just assume they don't own it. Either it's on credit or it's on lease. Same when people have the brand new iPhone.
I just bought a $70K car. I paid cash for it. No I’m not rich. I just have my finances in order, and I saved up for it.
@@aaronkelley3865 Good for you. but let's be honest, you're the exception. I saved and paid for my master's degree in cash too, but I know that most people are taking a loan to get one.
I hope you have your own house as well @aaronkelley3865
I often compare myself downwards against others. Take a drive around the slums on the other side of the tracks with tarps for windows and roofs caving in on roads with plant life growing out of the potholes and sidewalks. You'll soon realize that you are actually doing pretty damn well.
I don't know. Everything seems under control. You go to the restaurant. It's full. The highway is full. It's not a small car anymore with holes or rust. It has been a while since I saw that. No it's the brand new model. Also better than what I have. Costco? No problemo. Let's take a kart. There's an event somewhere? Let's roll. No worries. Then you see reports and it's bananas. It doesn't make any sense. Something will break and it will be hell. At one moment yes.
Yep, our society is built up like a deck of cards right now. Everything looks great. Until the day comes when something goes bump.
This was very very insightful
Love your content…..Here’s a thought when it comes to comparison. Everyone defines luxury differently. My sister loves to travel. I love the my bed and luxurious sheets. She loves new cars every two years. I love snuggling with my 3 dogs. My life would not change a lick if I was a million dollars richer….love my house, my hobbies, and having all my friends too far away to get together. What are your original thoughts? I would like to hear your thinking….how YOU think about life, Most of what you say, is out there…..
What a shame I can only like this once. What an important and great Video. Thank you!
Glad you enjoyed it!
Ever since I left nyc and moved to texas, I dont feel the need or impulse to compare myself to others 😊
Bro keep em coming!! 🎉
Will do!!
I have no debt and good savings. My car is 10 years old and is a small car so the day to day running and maintenance is much cheaper than most other vehicles on the road.
When I was younger I wanted that beautiful apartment, nice car, designer clothes etc etc. When I started making more money, I was able to get all of those things. I quickly realized that I don’t need that to be happy. Today I’m so much more practical for example my husband and I share one car and it has 115,000 miles on it and it’s 10 years old. It works just fine and gets me from A to B. I don’t need to keep up with the Jones’s
My wife works at a bank and 95% of people out there are living paycheck to paycheck. Most people are swimming in debt.
My high school friend grew up on a dairy farm. He'd complain every week after trying to grind corn cobs shoveled into a machinery that turned corn, soybeans and other ingredients into fees for the cows. The !machine broke every time they used it. Why couldn't they afford a better feed grinder? They weren't poor! What's wrong?
Then his dad died. The three brothers and uncles were standing around trying not to cry when three suits showed up a very nice car. They said the were.from Piper Jeffrey and Hopwood. They were hoping the family would keep their investments with them. Everyone perked up. What investments? You have $600,000 with us. Can it stay with us? At least until we can talk to you and your mother? $600,000 was a lot in 1978!
A. said their father got the wall street journal, barrons, fortune, business week and every finance magazine there was and would sit in his rocker and read when everyone else went to bed. Turned out he was a financial genious.
I hit reply by accident.
Eventually, the boys got $200,000 each and their mother got the farm and the investments.
The only n thing they bought in.A burst of euphoria was a better feed grinder.
Delayed gratification is a biggest sham. Work hard your whole life, through your prime and health to enjoy maybe 15-20 year of financial freedom in your old age and sickness. Living in the moment is the best thing while you can still enjoy it, take that vacation on a credit card, buy that 911 Turbo, build those memories while you’re still young and healthy.
You’re right. People today live in the now, they are keeping up with trends and likes to flaunt. After this, what do they feel in the long term? Won’t they be tired and bored hanging on to flaunting and be famous? At some point they will. One of the most extreme i know, when a guy sold his one kidney just to buy an iphone15😢
😢
Generally I loose interest in most thing that I can buy. I newer borrow to anything - borrowing to semi luxury goods is not being rich. It's being poor. Most people can increase their house loan and buy a submariner. You are rich if you pay for it cash and can use it as a daily beater...
People are silly.
I have a close friend who just lost his house due to second mortgage debt, credit card debt, and overdue property tax. If he and his family had cut their expenses by $1,000 per year for the last 25 years, they'd still have their house. Don't believe people who tell you all those little expenditures don't matter. They matter!
I’m one of those people who don’t care about luxury brands. If it’s comfortable, I’ll buy it. Quality and durability are my main standards when buying stuff. I make 6 figures with no debt, no kids, no car, no mortgage (I rent). I invest 20% of my income (50% in dividend growth stocks and 50% index funds). The rest I budget for my day to day and travel fund. I like 5 star hotels and 5 star vacation packages. I would pay for a business class seat if it’s not insanely expensive because travelling brings me joy. I go on a trip every 3 months to make me always motivated to do my best in my job (senior role in tech) looking forward to my next trip. I budget and make sure my needs are taken care of and whatever is left, I splurge on things that brings me joy ❤. DO NOT EVER COMPARE YOURSELF WITH OTHERS. If you can pay for things that brings you joy without ever going in debt, then you’re doing really well compared to majority of people.
I tend to buy what I like and if it happens to be an expensive luxury item so be it. I also love cars so I typically will own a sports car. I enjoy mountain biking and will spend $7000 on a mountain bike. I also like sneakers and have an extensive collection of Jordans which I get 40% off from my cousin that works at Nike. I collect watches and only buy one every few years due to the prices. You only have one life so try to find a balance to have things that you enjoy. You also need to save and invest for the future.
Excellent message. Endless car payments are killing American budgets.
4:50 Meredith catching a stray there.
I'd make that case that comparing yourself to others is mostly involuntary or is at least very difficult to control. It stems from emotions involving inadequacy and wanting to be admired or accepted, and if you've struggled with that, then there's no "off switch" to stop comparing yourself with your friend who make a lot of money or has a really attractive spouse.
Well, if that’s the kind of person you are, then you should completely remove social media from your life.
Comparison is the thief of joy for sure. Plus, like you said, there is always a bigger fish. Building wealth is a worthy process. But It Is A Process indeed.
I'm happy I don't get too caught up in the comparison game. Focused on getting out of debt. I'm almost there, and it feels amazing. I haven't been debt free in years! I want to purchase a new car (to me), but I refuse to get a car loan. I think being able to say I'm 100% debt free will be the ultimate flex.
Yes, every one seems have way more money than me.
I finally got to the point where I have two reliable paid for cars and no credit card debt. Looking forward to finally being able to save and invest.
Your absolutely right.
Man I love your content and now that I started my own channel where I discuss my handyman/ home repair business I realize just how much work goes into content. I’m in the messy and new phase but you certainly inspire me!
Great video.
Your advices are jem to me I am in my 20s and it is helpful. Thank you
When I was a kid we farmed. All our friends were able to buy new machinery, new pickups (and cars), go on trips, generally be bigshots.
We had a good operation, some of the best dairy cattle anywhere and mom had a good job. Thongs were good but we didn't have flash of any kind.
Dad would say how can things be so good for everyone else but not us?
We went to the bank and mention the word Harvestor silos which were the must have grain or cattle feed storage. They were 60 to 80 feet tall, dark blue steel which exclaimed look at us!
I would go to agriculture class and the teacher and I argued all the time. If you had enough to buy 1/4 of four farms or all of one farm? I'd say how about 1/2 of two farms? He was relentless. When you go to the bank take every bit of the money they'd loan you and find something to buy.
We'd, my dad, brother and I, would mope around wondering what the he'll was wrong with us.
There was sanity here and there. Not every one would drive in the yard and see dad pushing a wheel barrow across the yard with four tool boxes on top then say "If you farm with junk you have to be a good mechanic!". That actually happened and it was hilarious.
Dad would take me along to see the banker. I'd say the word Harvester and he'd light right up " If you decide on a Harvester I'll find you financing from another bank but you won't get one dime from us.
Then the 1982 agricultural collapse came. Every one of those people who were flashy showoffs either went broke or quit farming. It was like a finacial plague went through ripping the guts out of so many. That was also the year we paid off the farm. HAH!
The Marshmallow Experiment to test the kids that are more prone to instant gratification. If you're a parent of a child that would rather eat the marshmallow now instead of waiting to get two you need to put more energy into teaching them the benefits of waiting otherwise they will most likely not succeed in life!
The problem I had is I came from a family who struggled with money. Then I wanted to leave home at the age of 18, I went into debt and got a student loan. Biggest mistake of my life. Got a credit card and worked up even more debt. Met my girlfriend who has been living at home and never studied, saved like an absolute champ and is so far ahead in life that I'm behind and she wants to travel and I cant afford it. Never been so motivated to start sorting my finances. School should have taught us better...
Thanks, needed this. Good video! ❤
I always felt behind until I actually looked around and realised my wife and I are very well off by comparison. New car paid for with cash, we have no debt, 6 months worth of expenses in an emergency fund account and 2 years worth of salaries in a savings account, we are 28/29. We also consistently put 15% of our income into retirement.
I have a real question.... How do people that don't have an employer pay for health insurance? I have a family, with children.
The ASAP Rocky b reel is so random lol, good video as always tho!
Love for india🇮🇳 allow support you❤
Stop comparing!
Amen. I've come to realize that I have no idea what's going on with someone's finance from a single glance. A millionaire might be driving that 20-year-old Honda, and a broke-dee-broke might be driving that new SUV.
I am from germany and its crazy how much credit card debt is a thing in America.
I don't know anybody how is having credit card debts. Could be because of my surroundings, but its not really a thing here.
And the over 120 Dollars per month for mobile phone payment really shocked me
Yeah well 5 yr old out of warranty cars are 20k now so not exactly cheap and insurance varies but the minimum to get a car that won’t have major issues for the average non-mechanic in a suburb isn’t exactly unnecessary consumerism. My 12yr old car I found exactly 1 of the same car on the market to replace when the engine died for no less than 7k cash private deal and back in 2017 when I was shopping the dealers would not finance anything under 10k…. Rust and sun damage are also a thing in certain areas. I’d bet that many people are in that situation between I need this car now or I’m going to get fired and lose my housing and hmm yeah I don’t really want to go into debt for this base model white Corolla.
A twelve year old 911 S still sells for $70,000. No deals to be had yet.
@@mocheen4837lol nah hybrid station wagon 4 lyfe. Too bad Prius v weren’t “more popular”. I’m so not a mechanic therefore I try to stick with really similar vehicles for as long as possible so the maintenance requirements are more familiar.
My cars are older and paid off, I hate the idea of having car payments unless I was just sitting on the cash to pay off the car and wanted to do something else with 30k that might pay more than the loan. I have credit card debt, I hate it, I'm busting my ass trying to get it paid down.
I don't understand why I wouldn't want people to have more than me. I am not setting the world on fire but I'm doing OK, so I hope that all my friends are doing at least as good as I am. I don't want to be doing better only because they are doing worse.
The covid crash was when I stopped caring what other people do. I thought I was doing average but I seemed the only person who investing alot and made alot in my large circle in a higher cost of living area. Someone I know even mentioned having no cash to invest, another bragged about making 10K. For those who don't know, 10K gains are tiny for how bad the crash was and how quick the recovery was. Put another way, the "rich" people weren't rich. It was actually awkward because I genuinely thought they had money with how they live so I'd ask how they were handling the crash and they were like "I wish I had money!"
I have a pretty decent job and I do get looks about my old car lol but it’s paid for which is such a great feeling
I lived to close to the edge when I got my first real job for many years, I think it comes from not having much or you family not buying certain things. I know that's how I was but finally worked up enough to now afford most of it without debt and am going to continue building. My Next car will be paid for in cash or a very large percent down and paid for in a year or two not 5 years and some down.
Oh please… there are people making $250k combined with no kids in a low cost area. No, not everyone is maxing their credit cards. My available credit is $25k and my balance right now is $450. I still like using cards but I never max them!
I have friend she’s stay home mom only her husband work , her family always vacation. last year she went to Newzealand or usually her family go there every year for like 3 month. This year she went to Europe, Asia ( Indonesia “ Bali, Jakarta, Komodo Island “ , Thailand , Korea, Japan . Thailand , Korea and Japan she went twice this year . Also she went vacation locally. Sometimes I feel envy, but now I try not to see social media just try to be grateful.
I love those suckers carrying a credit card balance. They're paying for my free flights.
I can't believe you called him Bryan Reynolds.
Being in SoCal particularly OC there are alot of these so called self-made types who were born in money and act like they worked so hard for it😂😂😂
If you compare yourself to the environment you live in, then chances are high a lot of people will have more money/wealth than you. If you look globally and are watching this video, you're probably not on the bottom. the real question is, who has a fuller life? That equation has a lot more elements in it.
GOOD MESSAGE
I never felt the need to keep up with any Joneses, not with cars, houses, or material things. I am however good naturedly envious of some people i know who have retired early or don't have to work at all. Must be nice. I don't begrudge them of this freedom. I hope to achieve the same financial freedom for myself eventually.
Keep the goal; have a plan; stick to it; and you’ll get there.
Ask yourself: Are you content?
I was waiting for Stingy one ! Lol I personally know a ton of ppl that are extremely CHEAP ! they complain they can't do anything yet I remind them they actually make way more money than I do , they have $200k in the bank are in their 40s and haven't even left the state they live in , it literally kills them to spend $600 on a quick getaway to Florida 😂
The richer I get the more poor I dress. I had to begrudgingly buy a new car because my 7 yr old car got stolen, but I'm the type to who drives the car down into the ground. A beater car would have been nice but I bought new because I'm thinking of retiring with it.
Ask yourself, "Am I happy the way I am?" Not necessarily better than I use, but being in a good place right now. 😊 Enjoy Today!
Nice Lancia cameo!
If they really need to say/show/prove it, most probably... It's not true...
Great advice
So here's the Story: My friend is rich. Why? I wondered. The back story is his Grandmother was raped in a nursing home and the place was sued.
The family got the 3 billion and started their own businesses. Some succeeded and one went to prison.
You never know..so don't envy others.
YES!
Awareness really matters. Identify the reasons why you are spending a lot.
I would stay low profile even if I have tons of money. Just create a stream of income and live comfortably. I don't need affirmation from other ppl lmao