Still Living Paycheck To Paycheck? TRY THIS
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- Опубликовано: 11 июн 2024
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2023 is right around the corner, and I’m sure that one of your new year’s resolutions is to get your money in order. Right now in America, 63% of people are living paycheck to paycheck. And whats crazy is that, of those people making above six figures per year, 49% are still living paycheck to paycheck. Clearly making money and managing money are two different skill sets, and today we are going to be focusing on the latter. So we’re going to go through a step-by-step guide on how to stop living paycheck to paycheck.
We're going to discuss how to save more money, how to make more money, how to invest in stocks through a Roth IRA, and much more!
Chapters:
00:00 Lets Get Started
00:26 Step 1
04:06 Step 2
08:38 Step 3
11:37 Step 4
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Everything in this video is of my own opinion and could be wrong. I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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Thank you everyone ❤
Hey I messaged you on instagram, if you have a moment, please respond.
What is this for ?
❤ never understood how someone with a six figure salary can still live paycheck to paycheck. A lot of people need your video. Thank you for sharing.❤
I'd suspect a great degree of the folks with a six figure income live in parts of the country where costs of living are so high that having a six figure income is a.) not that big of a deal and b.) pretty much neccesary in order to live in that area.
You also have to figure that the six figure income range has ten times the numerical breadth that the five figure income range does, and that likely the vast majority of folks in it are in its lower echelons, versus folks in the five figure range spread more evenly throughout.
They’re married with children 😆
Six figure incomes also fall into a different tax bracket so how much are u really bringing home
Running around the world to Jamaica, France, Britain, Netherlands, Hawaii, NYC, Vegas and fancy hotels will break ya.
As others have said depending on the cost of living in your area 6 figures isn't what it used to be. But ... I work in a tech field in an area where the cost of living is low and I'd say that many/most of my coworkers are earning 6 figures. Unless you have some out of the ordinary expenses (health costs, caring for loved ones, etc) there is no reason why you can't invest a good share of your income and certainly no reason why you should be living paycheck to paycheck. But many of my coworkers are. My thought is that it's easier for them to be sloppy with their finances as they earn enough to avoid any serious issues so there's never a wake up call that they need to get their finances in order. Monthly bills get paid, there's enough money coming in that even a fair chunk of consumer debt is "manageable". The problem of course is that those folk aren't investing for their futures like they should and a job loss or health issue would be catastrophic for them. I'm fortunate that I had frugal parents that somehow managed to pound some financial responsibility into my head. I've made mistakes of course, but they were easily recoverable.
Very sound and practical advice especially for youngsters. As always, you are spot on. Keep it up!
Thanks Raju!
Yes, true, 🙏👏.
Budgets are superimportant.
Live within your means is sound advice!
~+~
How did I miss this video release? Great video! This is just what I needed. Love your hairstyle today! By the way, your freckles are adorable 🥰.
Thank you for your research and great information Karson😊
As always you're right on top of things thank you very much and Merry Christmas
Merry Christmas to you too! Always appreciate your comments :)
Thank you for this!
You’re welcome :)
Thanks for video! Very interesting and useful!
Thank you for another great video
Thank you!
Thanks Mark!
RUclips side hustle for the win!
👍
Agree on asking for a raise is usually not possible. If you work for any large company there's likely a process in place for that and it follows a fixed schedule. I'm not a job hopper but there was a short time in my career where I did change jobs a few times in short order (not totally by choice). I gained about $20K in salary on each job hop. This was a long time ago and early in my career but I went from $30K to $50K, then to $60K, then from that to $80K in a move back to the original company I started at. This was in in about a 2 year period. No way in the world would I have gotten raises like that if I'd stayed at that first company. It's not right and I don't like job hopping or rewarding job hoppers, but there it is.
You can't get too comfortable with one job. I moved around very little as well but was eventually forced to due to no room for advancement. But no debt at the time other than living expenses gave me the option for mobility without have to make drastic lifestyle adjustments. Savings put me in a state of security so I felt more at ease when it came time to leave my long term job.
i love houseplants! i was actually thinking about selling my monstera albo to pay down some debt because my houseplant tastes are expensive 😂☺️ but i've stopped buying anymore and am just doing trades from now on
In the golden wisdom of (Anonymous web user): "What gets measured gets managed"
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“What is not defined cannot be measured. What is not measured, cannot be improved. What is not improved, is always degraded”, William Thomson Kelvin, British physicist and mathematician
I do like houseplants. - 28 year old man
9:15 i.e., they made sure to get an inflation discount on your labor.
Dear Person That's Reading This You May Be Goin Through Something But God You Got U He Didn’t Bring You This Way To Far To Quit.We Don’t Know Each Other But I Wish U All The Best In Life 2022 And Beyond.🇧🇸❤️~Marcia~
❤️
Did you have a stroke typing this?
@@Chasemuss you feel good about yourself?
God be giving a stroke while reading this
Is this on english? Hardly.
You give good advice. I have encourage my young daughter to look at your video. I love your honesty. Keep it up. If i may suggest, you have a tendency to talk with your hands and it gets a bit distracting. I don’t mean to be critical or knit picky, b/c i love what you do. I hope this helps.
I also noticed in one of your later videos that you talked slower. This was so helpful. Good job. I am about 50 yrs old man and I have told my 22 year old daughter to slow down when she talks so people can understand her. This is really important when you are explaining things to other who are trying to understand a concept that’s new and helps you articulate your words better. I know it may have been due to nervousness when talking on camera, but good job in slowing down for us want to hear what you have to say.
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Is it better to have taxes saved up in a checking account or a savings account?
Money market account. High interest savings account....
What is this..
$200 for eating out at month 😂 😂 😂
It's a common thing. My co workers easily spend 500 a month.
The best way to stop living paycheck to paycheck is to "LIVE BELOW YOUR MEANS"! If you are spending more money than you are making, then of course you will be living paycheck to paycheck.
Wow thank you for this before this I had no idea I had to make more to spend more. The issue is people aren't enough to live. Now if its someone making 100k that's different