How Much I SPEND in One Month Living in LAS VEGAS
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- Опубликовано: 26 сен 2024
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How much do you think I spent living is Las Vegas as a home owner?
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Thank you for shining a light on this!!! All Tenants should see this video and they want to live for free!!!
Some advice from an old CPA ... see a financial planner and work on a spending budget ... do it now. Where are the missing budget items? Current expenses: gas, gym membership, household expenses (bath, cleaning, laundry). Funding for future expenses: car repairs, clothing & personal care, disability insurance, emergency fund, federal income tax, federal self-employment tax, gifts, home decorating, home furnishings, home repairs, professional liability inurance, retirement plan (IRA, Roth IRA, SEP Plan), tax preparation. A little planning goes a long way towards future happiness, security, and peace of mind. p.s. Love your videos ... keep up that fun factor!
Ms. Norma....you better make a special keepsake video about the Tropicana (outside, because i think its closed already) and the Mirage, Hard Rock has taken over the property and I and others dont want to see it go bye!
I love your new home. Design idea….turn your desk around so you face out into your office and not facing the wall! You will love it!
As someone that's looking to start a business, this is a great video. Most RUclipsrs leave out obvious expenses when making these kinds of videos, but you covered everything. Thank you!
But if it’s obvious why do they need to include it 😂
Normaaa!!!🥳 We appreciate your total transparency and honesty of your life...that's why we all love & enjoy watching your videos.🥰😎
yes She is the best
Love the transparency and real vegas content! The queen of vegas.
She is the best!!! She deserves the Miss Clark County title!❤🎉❤
Good job Norma. People are interested in these things.
Agreed. Very interested.
All Tenants should see this video and they want to live for free!!!
Didn't mention savings. I do free financial analysis for people. Seeing where your money goes, help you understand how money works. It's often shocking to most people. 😊 Congratulations and continue success.
Norma go shoppimg at the mexican stores you like fruits etc go to cardenas, la bonita.. we own a house on the north side and our mortgage is 3500. A month so we know how it feels when trying to make things stretch.. great video 😊
Key to decor, Start with a good area rug and build around it.
Cost of living has definitely increased but almost half of your expense is for your business. Some of the parking fees and costs for hotels and/or food is for your business as well.
Thanks for being transparent and showing people how much it costs to live in Las Vegas as a homeowner and what it can cost to run a You Tube channel. It's alot of work.
love the cheap walmart lamp in your room, I think we all have owned that one.
Great to see you track your cashflow to the penny! DO NOT forget to factor 10-20% for savings and retirement. You cannot get out of the rat race without paying yourself and your future first. Home ownership is a great start, but now focus on investing for the future. I retired in my 40s cuz now my money works for me, not the other way around. Good luck Norma!
Its expensive living anywhere today, congrats on your new home. Thanks for sharing your video Norma
I don't think you understand. This is the cost of living for her life, eating out all the time, making content. the avg person isn't spending almost 10k a month to live here. more like $2500.
Love how transparent you are about your expenses. Your new house looks fantastic, by the way. Keep sharing these insights; they're super helpful!
you can ad in $50-75 a month for car maintenance [the taillight] and gas. $100 for misc. stuff.
And I am in Henderson, your first July & august electric bills will shock you.
Agreed!
Thanks for the informative video, Norma. The bear hat looks cute on you.
You are doing great Norma keep being you.
After hearing your expenses for the month of April, I felt compelled to go back and like a lot of videos!!! This is work and you do a great job!
Absolutely the BESTvlog on cost breakdown of living in the Vegas area!
Hello Norma,
When I first moved to Las Vegas in 1990. The median price for a home was under $100K; it's so sad we don't live in that kind of world anymore.
Do you have a back up plan just incase one day RUclips goes away unexpectedly?
Pfff youtube is not going anywhere only growing bigger.
Hi Norma, this video came up and it caught my attention. I watched it with my wife and found your video open, friendly and informative. As we are older, we do not intend to stay in Vegas much longer, actually, we are going to move and retire in Puerto Vallarta! But your video was FOR ME, as a tax preparer, very appreciative of how you handle your work and finances. Yes, Vegas can be expensive, but knowing how you work to support yourself, and you did not mention having any credit card debt (we assumed you do not), showed how responsible you were, while still enjoying your life experiences...it can be done! Yes, you did spend more when you moved, purchased new clothing and travelled to Texas, but that is part of life. We really enjoyed your video and believe you will be ok going forward. We are now subscribers of your channel. Now to make my comment on your best Mexican Restaurants video. Thank you!
Love the transparency
Norma dear: Thank you for another informative video about your expenses and the financial challenges of living in Las Vegas. One observation: You seem to be very hard on yourself about many things. Don't EVER apologize about how much you spend on things. You have a wonderful new home. You are a very successful RUclips personality. You are responsible regarding your expenses, and you do a great job of taking care of yourself. And, darn it, for as hard as you push yourself, you DESERVE a vacation now and than. And, there's plenty of Norma Knights and Geli Beans who will continue to support you. Thanks for all you do! Take care!!!
HOAs are the bane of most normal people's existence. I'd love to find a place in the valley with no HOA, but who knows what's even available. I've been in Vegas for a few years now but am totally happy renting - having owned homes before and had to replace things like entire HVAC systems top to bottom, renting is way less stressful.
How does it affect your taxes at the end of the year? Renting versus owning.
@@tommy2days renting doesn’t offer any tax deductions like the mortgage interest from owning. But that’s of course mainly applicable at the start of a mortgage. My last house I owned for over a decade and by the end the tax deduction was minimal since the amortization is front-loaded toward interest.
Hi Norma! You are doing an awesome job all by yourself. Be proud of yourself.
Do you put money into a Savings? Love your videos. So fun!
You shop at the extremely expensive grocery stores. My wife and I limit ourselves to only shopping at Costco or Smith's and to total groceries for 2 people is only $450 per month and we eat at home weekdays. We only eat out on Friday or Saturday. We also take advantage of the $6.45 steak and eggs at Southpoint after midnight (a pretty good deal).
Norma great video but don't forget you need homeowners insurance to cover inside your home such as your personal property ..water leak damage .. burglaries etc. Your HOA insurance will cover the exterior but probably not the inside. You better check. Most homeowners have have homeowners! insurance!
Her mortgage account may also include HO insurance and property tax. By the way, HO insurance policies also cover contents.
What I am more curious about is how much being a RUclipsr pays! In terms of subscribers, brand deals, patreon, etc. I've only seen one other RUclipsr (Shelby Church) break that down. I very much appreciate all your hard work and love the videos you put out on your channels - I am a loyal follower! : )
Wow! Being a RUclipsr in Vegas is not cheap! Hopefully, you have a good accountant that is allowing you to deduct most of your expenses as a self employed RUclipsr on your income taxes.
Though the sum total seems high, I'm sure you also considered the financial upside, like the tax deduction on your mortgage, tax deductions on your business expenses. All in all you are doing a fantastic job. The real stress is to keep the income stream flowing and control spending in an inflationary market. Good Job Geli..
i love this for you. be proud of yourself to be able to afford these things. 💕 live life and take those vacations girl!
less is MORE!!!
have a wonderful weekend!!!!
I liked the video and I usually never like youtube content, I feel sorry for you. But thank you so much for being so real and transparent.
Love your videos Norma❤👍Congratulations on your new home.
I'm glad RUclips covers all your bills.
My HOA back in Cali was 514 a month so don't feel bad .. Love your work
Thank you for the insight! The cash flow is fun.
On my last trip which was last month I seriously considered getting a home there one day! A vacation home to visit when I'm in town eventually I pray!
April only had 4 Fridays.
I'm rooting 4u Norma I'm watching all your RUclips ads fully from now on.great honest review Norma love it
Beautiful new home! Consider putting your desk in front of your window!❤
Nicely done and nice place you have. I was a little surprised at your mortgage payment (which I assume includes property taxes), seemed high for the Las Vegas area unless you're in one of those ultra-luxury towers on or near the strip. But then I was able to refinance when mortgage rates were at an all-time low and the rates went up considerably when you bought your place so there you have it. Hopefully rates will go down again and you'll be able to refinance at something more manageable. Those HOA dues don't include garbage collection? What's up with that?
I will be staying at the luxer hotel in August when I come to las vegas in August
I wish my bills were only nine thousand a month .but good job, you're crushing it.
One Terabyte of iLove for you and your team. Having much fun here with your content. Can't wait for that Bronco customization.. but you know.. no hurries; isn"t it? Xxx
you must be a millionaire. youtube as rev and promotions must pay well. good job
Considering that you have an older Hyundai you might want to drop down to just liability insurance. IMO
I plan on retreating there in about 10 years
Love all the dresses and lace. Keep it up. Killing it. Refi when economy better.
I commend you for tracking it all so well. That is alot but as you said it is for 5 weeks. Keep tracking it . Well done !! welcome to home ownership
Love these types of videos. I’m a single mom looking to move soon, and this content helps put things in perspective.
$9k a month in expenses?!? I guess only four words can solve this: Third Norma Geli Channel!
What's fortunate is that you live in a tourist city that continues to grow and change so content is not an issue.
It'll figure itself out, you managed this far! Good luck!
Sure while restaurant & hotels prices continues skyrocket due to high inflation recession
All Tenants should see this video and they want to live for free!!!
@@Bitcoin_Gold Don't forget outright corporate greed.
Hello mija, husband and I have been watching you for a while. A couple of things I have to say. First , always pay yourself first every month and never touch that money for the next 30 to 40 years. Eventually the interest earn will exceed annual amount you pay yourself. Second thing is keep the car another 10 or 15 years. It is a lot cheaper to pay a $4000 car repair bill than having a $500 payment for 5 or 6 years. We have vehicles going on 20 years. Just maintain your upkeep and maintenance and the car will be as reliable as a new one. Keep your chin up and keep up the good work.
Respectfully disagree. I don’t think she can afford to pay herself, don’t think she has the money. Even she was shocked at her expenses. Obviously you are of a different generation. With today’s inflation and cost of living it’s tough to pay herself or save huge amounts of cash after expenses. Eventually you are going to have to buy a new vehicle. You probably don’t drive very far every day. I hope your vehicles last for a long time. It is just a tough economy for so many especially the younger generation. Take care.
Good idea to pay yourself, but I suggest a more aggressive investing strategy in both the stock market and fixed income with the money that you are saving as it can really help you with your life expenses.
Norma…this was a great video! So relatable as a local here in Vegas it’s crazy pricing
We pay $188 for hoa in Southern California . But we get so much . When we moved here 20 years ago it was $80.
You are one of my favorite bloggers. I enjoy every video. Congratulations on having your own business. Yikes it sounds extremely expensive living in Las Vegas. We live in Canada and it is horribly expensive living here as well. I feel COVID has destroyed the affordable living times. Since Covid everything has ballooned out of control. Great job Norma ! never change- You are a awesome blogger!
Love your shirt Norma!! Please tell me you're a Doors fan.
Run each amount against the total to see what percentage of your expenses accounts for the total. Just modify based upon that :)
Love your videos! I just retired in Feburary this year. I always tought about moving to Las Vegas but i don't think I can afford it. I had an idea it was expensive but, wow. Thanks for making this video and being so thorough.
Well done. That is huge ! I am a couple time of the year in Vegas and of course as a tourist it's a whole different story ! i like your content !
Awesome cost of living video! Biased because I love personal finance. Las Vegas cost of living is quite high these days so that is expected. However, your RUclips business with employees was real fascinating because I’ve yet to see many or any RUclipsrs show those kinds of expenses. I have a parking hack you or anyone else can easily use for Las Vegas, get the MGM rewards Mastercard and you can park at their properties for free.
Very insightful. What is your homeowners insurance cost? Any vision expenses each year? Property taxes?
I recently visited Vegas and on the flight home I was talking with a Vegas native; she said she bought her home for $220,000 ten years ago and could sell for close to $480,000 now. The housing market is going crazy there! Thanks for a great video!
I’m so happy you bought your own place! It’s practically impossible nowadays
I can't believe how cheap electricity is over there. In Australia the average house would be spending roughly $500 per month. Even single occupant dwellings would be at least $250 a month!
Great video. My brother bought a house bout 22 yrs ago and now it will be paid off next year. Keep the faith😊
Great to see the channel growing & your lifestyle too 👌🏻 that price per month sounds crazy but as long as you’re making good income & you could rent that “guest” room to a close friend and have more income to help with the monthly’s again another great video of what I can only dream to one day do….live in Las Vegas 🤩
Thanks for sharing and being open about this! Don’t beat yourself up about it. A big portion is going to your channel, and those expenses are deductible.
Keep growing your channel,and in 1 year 9k a month won’t seem son bad 😉
Live for the moment Norma. Your videos are informative, well done, and a joy to watch, thank you.
Norma didn't include property tax and property insurance, breaking that down by month. Also, all RUclips expenses are a business expense and can be taken off of her taxable income, which includes her office room at home (part of her mortgage).
Great job Norma. You do it all by yourself. Be very proud of yourself . Take care. Helena
That reality check when you realized your monthly total is really important to capitalize on. You felt the pain. You've essentially laid out a budget, go back and see where you can trim back. You decide where the money flows or the money GOES! It ALLLLL adds up quick.
This way you can start setting money aside for emergencies and retirement, etc. Wealth is not built on how much you make, but how much you spend. Say the word help, and I'll figure out how to reach you. I owe you for all the great Vegas advice
Hey Norma, you are doing a great job! I REALLY enjoy your videos for informative and entertainment. You are very creative and such a hard worker. I appreciate your work. Keep it up!
You are an amazing woman! I always enjoy your fun and informative videos out there in Sin City! I did not realize all the expenses you have especially your RUclips expenses...which is more than 1/3 of your total expenses. But to have a great quality channel...like you said you have to invest in yourself. I am proud of you and keep pumping them videos out there. Hopefully I will be out there again soon!!!
You’re doing great to be moved in and we’re not judging your guest room - it will get decorated eventually !
Norma, your blessed. This means you don't have a boring life. You do you girl ❤
Decorating takes time. Some houseplants will make the inside of your home feel a bit more cozy. If you aren't good with plants fake ones will work. Also some vegas photography or art on the walls. Colorful pillows to add to your couches to give it a pop of color would look nice too.
Agree, I think some paintings...
For YOUR living expenses for the month you HAVE to back out $3,764 business expenses. Maybe more if you can charge some mileage, part of the office in your house. Second, while a vacation is necessary sure, you’re not going to take a vacation EVERY month. Without those two expenses, you’re around $5,000 a month, pretty good since you have a $2,500 mortgage and a slew of other ‘housing’ expenses - and you live a pretty active life. Yes, I’d say you’re doing all right, 😊. Of course, continued good luck with the business, 👍. And thanks for the info.
If you are using part of your domicile from your business, purchases for your business, and equipment depreciation ... are part of the cost of doing business and can/could be used as a business expenses.
Check into it.
Norma you are wonderful. Thanks for being you. Thanks for being transparent. There were so many positive comments about you but I just do not have the time to like them all. Just know that I (as well as a lot of others) do.
Save $60-$70/month by dropping the trash service. Use the small grocery bags from shopping and dispose of while out and about in public trash cans.
Great video. Love the transparency. Need a roommate, public transportation, and a simple budget ❤
Great video Norma 😊 thanks for sharing this info! We live in Scotland and some of these bills and massively different from outgoings!
Some of my most cherished and Fav days were in my first apartment, I didn't have much at all! I even ate out of the ravioli can and cooked in it on the stove! But I was on my own! Enjoy these days! They only happen once!❤ so happy for you!
You could reduce some of the expenses condense your video people to one that can do all those things you described. Furnish the rest of your home thrifted items. It’s really lots of second hand stores in Vegas . Cut out the facial things you are young you look cute already.
Your expenses would be less than $8k/month on a normal month. Perhaps $90k/year. I hope your mortgage includes escrow for your property tax and homeowner's insurance. My monthly expenses (yearly expenses are averaged over 12 months) are $2.8k for mortgage, $550 for HOA, $100 for cellular, $150 for electricity, $20 for natural gas, $300 for cable and internet, $400 for groceries, $200 for insurance on my cars, $200 for gasoline, $600 for eating out, $200 for car wash and detailing, $500 for home maintenance, $150 for car maintenance, $2000 for traveling including Vegas, $1500 for stuff like record albums, books, clothes, knick-knacks, $100 for medical co-pays for a total of approximately $10k. This doesn't include big purchases I occasionally have like a Porsche or electronics (I just paid over $120k for my audio system). And I am going to buy a house soon. I currently live in a townhome. The house will be between $2M and $3M.
We live in Vegas too and spend about $10k-$12k a month. That includes the mortgages on two investment properties plus rent where we live. We're a family of 4.
It's nice to own instead of renting keep up your great work you deserve everything you get!
You’re the best Norma!! Much love and respect 🫡
For the military people get the Casears and MGM military account, its free. You get FREE parking. Lived here for 4 years and have yet to pay to park anywhere
Hello Norma. keep it minimalist for real. cluster is a nightmare and dust grabber.
Las Vegas is Cheaper to live than anywhere else, regardless of the higher prices these last 2 years! The only bad thing is, if you can ignore it? Is the Extreme Weather and high winds, similar to the Hawaiin Islands...and dust is always gets inside your home. So dusting is a daily thing to do😐
Wishing you Millions in Subscribers and Dollars!!! Your channels are so entertaining,,,, Best of luck to you
Very transparent, awesome vid , I love Vegas !
$2500 for that mortgage looks like a bargain! An apt here in Orange County in Socal is almost $3000 for a 1 bd/1 bath.
Norma, do you put anything away for retirement?
Great video Norma! I’ve been following you since your early beginnings and seen you rise to where you are now. Muy orgulloso de ti! Hope to one day start my own channel and this video put things into better perspective for me! Keep up the good work and continue to stay humble!
well ...😂😂.... on the good side it'll be maybe a little bit lower in the upcoming months because you will not be taking a vacation, you will not be replacing the clothes that you threw away when you moved and not, every month has five Fridays .....however, your electricity will go up a bit .....I think when you sit down and take a look, there are a few places in there you could cut corners👍👍😁😁❤