I doubt you'll see this,but you might.what do "you" mean when you say "if you can afford it"? Some think if you can cash out 5 you can afford 1,some think as long as it doesent come before any debt or responsibilities, I'd like to know.also,what you're opinion on getting teeth fixed, where do you put that,a luxory,necessity? You look like you may have had work done to your teeth,if not,God blessed you,but if so,what's your opinion. Please and thank you in advance
Immediately after I get paid, I go through and pay every bill I owe first, then I worry about necessities, food, shelter, discretionary spending, etc. The bills come first. Always. This is why I've never understood the "pay yourself first" bit of financial advice. That just sounds like nonsense. I have to come second, my bills have to come first. I've never heard a logical explanation for why it should be the other way around.
Pay yourself first doesn't mean spend money and spoil yourself with random crap, but it means to put money in a savings account or investments or to pay off debts. You are paying your futureself.. before you are spending money on your current self. Ofcourse you have to pay your bills.
Just a suggestion. Pay yourself means take a little $$$ for yourself, My dad said this, if you need some gas for your car 🚗 and something little to eat (McDonald’s) , your bills can’t help you. I take $10 out each check and stash it in a box. Just a little advice. 😅😅😅😂😂😂❤❤❤
It’s just saying to be sure to put money aside for retirement first then spend the rest as needed. If you don’t do that the chance of having money left over at the end of the month to save are very low for most people.
Kids need your love, attention and time. That doesn't have to cost money. Going into debt for a trip to Disney (or anything else) is satisfying something you need to feel worth while.
I was watching this channel where this low income woman was talking about her toddlers birthdays. She said that toddlers don’t even care about the decorations and the elaborate party. They just want to interact in a fun way. So for her kids birthdays she will make a point to spend extra time with them just playing and blowing bubbles and stuff. It made so much sense. A lot of this stuff about holidays and vacations are just instilled in us as what’s normal but when you think about it it’s not really that important.
@@mamadoom9724yes birthday parties have become a competition for parents to show off. And thanks to those competitive parents to other competitive parents now you have to spend more money cuz apparently now people buy little gifts for every kid that comes to the party I'm like what the hell is that. When I was a kid you came to the birthday parties it'll be nice if you bring a gift but most of the time didn't. And all the kids care about is playing and some cake or some cupcakes or some cookies anything that sugar lol
I lived in Florida for almost 12 years and never ONCE went to Disney & I have 6 kids! Do you guys know how much the tickets are for 8 people?!?! I grew up poor in the South Bronx.. there's NO WAY I could justify paying almost 300$ a ticket.. man, we used to go regularly to Old Town outside of Disney with the classic car show, carnival rides, Italian sausage and ice cream. Cheep & cheerful 💕🎶🍦🍭
That woman at 00:07:53 who says paying off her debt is not what she's "most interested in" is a conundrum for me. I understand prioritizing your family ahead of debt. We should value time with our families and giving our children wonderful childhoods if we can. We should work to live, not live to work. I get that. However, she DID take on the debt and she is *morally* obligated to pay it back. So I hope her lack of interest in paying off her debt does not actually mean she plans to never pay it back. (Who ever WANTS to pay back their debt? No one!) If that's the case, she's essentially choosing her family over everyone else's. That's how society breaks down. Also, if she never pays back her debt, she is hurting her future life and opportunities along with her children's. And for god's sake, I hope her children are not under five years old making them unlikely to remember their trip to Disney at all. In that case, the trip to Disney is actually for HER, not the kids. Kids that young would be happy just running through the sprinklers in the backyard and eating popsicles for dinner.
Caleb is the real MVP! Ive been watching him since the beginning before he started yelling at people he would walk up to people on the side walk and ask them about their finances! I’ve learned so much from him!
I saw this a lot working 9-5. It's very easy for people to fall into the trap of spending $200+ on restaurants and bars on a Friday if that's paycheck day, and then by Monday you're broke. Keeps you showing up to work, but it's a vicious cycle.
For the girl who bought those handbags, WOW. First, the quality is now crap and second, no money in the bag?! 🤣 that is super dumb. The VAT tax is not reason enough. PS. Fakes are hundreds of $$$ fakes now look real.
We knew someone who always paid their wants before the needs. My husband and I would joke around and call it backwards budgeting. They lost their house and things just went downhill from there.
The first Louis Vuitton bag I bought myself came after we paid off the mortgage, established an emergency fund, and began investing 40% of our income. I was 36 years old, but it was worth the wait.
I bought my first house with my ex husband at age 22. He also came into the marriage with massive debt and nothing to show for it 🤦🏻♀️ we were so poor that all of our money went to the house and debt. We were near starvation (there were some weeks where we only ate oatmeal) and my parents are somewhat well off so I always wondered why they never helped us. Now I get it. It’s because being so poor taught us some valuable lessons about budgeting and being as resourceful as possible.
Raises hand…my bag is some no-name thing I probably got for $30 a handful of years ago. I just don’t even think about things like that until something is falling apart.
Awesome commentary❤❤❤❤. I totally agree about planning and having goals with your money. So Many people are looking up and saying they really didn’t mange their money. Manage which means plan . Ex. You buy a car, and say I’m going to pay this car off in 2 years rather than the 60 months of payments. You sacrifice and make significant principal payments when you can to pay off early rather than just pay monthly for the entire term, Eat out only on pay day and treat yourself but eat at home the remainder of the money .
2009 I flatline due to a blood clot. Was prone to them for whatever reason - doctors couldn't figure it out. Haven't had on in the last 5 years but didn't think I would live passed 46 and had that mindset that I won't be here so need to live- now I'm 51 playing catch-up. I'm so focused that I'm planning on getting my house paid off that I purchased in 2020 ASAP.
No.Im selling my house in ND to buy a smaller cheaper house in Kansas..like Wichita...or Dallas County Missouri.. I won't have to work hard to have that house paid in full.
The gambling one is absolutely right. Of all the addictions I can think of, it's the only one you *can* actually come out ahead, even if only short-term. Problem is, the more you gamble, the lower your odds of that...kind of like the opposite of investing. Close to a coin flip day to day, but over the course of 20 years, almost guaranteed to lose money.
I get excited paying down my student loan 😅 seeing the balance decrease fuels me to keep pushing. I like to have a balance with budgeting. I give myself an allowance for fun money and spend within reason. Once that money is gone, that’s it no more.
Same with mortgage payment, it's nice to see the outstanding balance lower when you check in every once in a while, not that it moves very fast on 30 year payments 😂
I don't have tiktok but I honestly cannot deal with people nowadays begging for people to share and like a video so they can make some money without doing ANYTHING other than asking. It is insane.
I remember seeing a LV CD box that I thought looked cool. I was going to pick it up since I couldn't afford a LV messenger. That little CD box that holds maybe 10 CDs, cost $2000!
the lady @ 8:40 trying to receive validation for her bad financial decisions, asking for a like, and google just lighting up the like button for the video was great if only she said "and subscribe" XD
Spending my late 20s living at home and paying off all my debt was the best decision I've ever made. Then I bought a used car cash, now have a large savings for a house I can't afford lol. The peace it brings though when you have no debt and low bills is something not talked about enough. While everyone else went on vacations, bought new cars, bought fancy things, I fought those urges and gave myself the best gift....peace.
We live in a world of instant gratification. Everyone wants whatever they want, whenever they want and have a hard time hearing no. People go into debt for the most stupid and shallow reasons and then justify their dumb decisions by saying that they needed it. People can't really diferentiate between wants and needs anymore, and it's sad.
Women and purses & shoes.. i’ll never understand the obsession. 🙄 It’s just a status symbol, so many people are more than willing to go into debt to impress people whom they don’t know and don’t care about. Makes zero sense to me whatsoever.. and i’m a woman.
Our daughter, 22 year old college grad, has over 100 pair of shoes and 30 handbags (I counted them) and her transmission just failed in her car. She needs $5,800 for repair. I told her she may want to consider selling some of her stuff. I also told her to do a transmission service when she bought this used car but instead, she spent money on trips to Disney, Myrtle Beach, and other areas instead of the $250 for the transmission service. Would have been some cheap preventative insurance now, she’s crying she doesn’t have money to fix car….
Louis Vuitton costing "hundred's of dollars" hahaha 🤣😂 Silly boy LV'S depending on the type of bag it is go for $5k & up, they are not cheap! Some of the cheapest totes start at $2k. And trust me women who know purses CAN TELL A FAKE LV. Sad but true.
I am on my way from financial illiteracy. I have separate accounts for taxes and rent, quit unnecessary subscriptions, have budget and credit card is for German classes. Alwsys pay first and then save. Will build investment portfolio. Do staycations and don't buy if cannot afford from checking .
I've gotten way better with money. I save most of my money. I allow myself a small allowance for BS. I've had more success doing this than going completely cold turkey. This has been more sustainable.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Storch.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
I bought a Louie and spend 6 months paying her off! I threw a ton of money at BUT I haven't had to buy a new purse for 3yrs! $2000 for my neverful but it was a dream bag of mine.
Being in my fifties I have lived through some tough financial situations. Remembering and having a mortgage when interest rates were 15% in the U.K. House paid off ten years early and zero debt. I don’t know how people are surviving with debt in this economy. That said it’s tough for youngsters now but my teaching to my own daughter is debt freedom apart from bricks and mortar. I’m happy to report that she listened.
The worst part about the Disney mom is that her children are watching and she’s teaching them to be poor and in debt the rest of their lives instead of sacrificing and delaying pleasure for the good and the safe
Fake bags are often produced by child labor. I’d just say to get a non designer bag. High end designers, you can make back what you paid for it or sell it for more money than you paid for it. That’s specific to the luxury market due to massive price increases and because they never have sales. I’m not co-signing on debt to buy a bag, just stating the difference with the luxury market.
I mean, you CAN eat them if you had to. So, technically you've invested in a small-scale farm. (Don't eat them, though. The company does not recommend it.) Edit: I should clarify that by "them" I mean the sprouts. FFS, don't eat the terra cotta. 🙃
You will enjoy Disney a lot more if you go and spend your free cash flow, extra liquidity you have sitting around. Going while currently in debt is the dumbest thing to do. Unless you have a terminal illness that's the only time "living for the moment" makes sense.
13:47 I don't think the woman paid for the trip or the bags with an income tax refund. She got a refund of the VAT (sales tax) on the purchase because she's an international tourist.
I’ve been binging a ton of your vids JJ, love your content! For me, I’ve decided to go into the military since my dad lost his job and we are gonna lose our house soon, best thing I can do for us is move out and not burden him with expenses and insurance. I’ll be saving every penny I earn for when I come back to civilian life 😊
8:25 do kids really enjoy going to Disney and waiting in those long lines to ride the rides and walking around allllllll day? I think it’s more for the parents
As a former child, I can confirm, we do enjoy amusement parks. I've never done Disney, but my local Busch Gardens and Water Country were places I *always* wished for, even through ny 20s.
Instead of wasting all of that money on Disney, pack a picnic and go to the beach/lake/park with your kids, and bring a radio, ball, and frisbees to play WITH them! They'll cherish the face to face time with You over the creepy old man in the Goofy costume - and every time they hear the songs that play on your outings, they'll be brought back to the Magic of their Mom. Trust me. They will.
Especially considering that if the Fed's lower the interest rate I will be earning less money on my savings... I will be giving up less interest earnings by using my money to prepay utilities.
I do like to gamble, but I make sure that it fits in my “fun” budget. Not just that, but I make sure that it exceeds no more than 5% of my fun budget, just so I don’t let gambling get in the way of other fun
I live a life of separation from the middle classes and under. I live a life I wish to live, however I only use a portion of my income for living expenses, save and invest most of my income. I agree with you having wealth gives me a certain amount of security. I found that I have no desire to buy anything with logos all over it. I do wear exceptionally high quality, very clean shoes and perfectly ironed outfits. This people are living on a different planet and behaving like a toddler. Giving this kind of people loans, be it credit cards is predatory in my opinion.
The “this could be your last day” reasoning to not pay off debt is silly. If you are gone tomorrow, now you have left your family with your debts! Wouldn’t you rather leave them with something positive?
I work in a casino maintaining slot machines. As long as you gamble responsibly and have a set amount of money you're comfortable losing then that's okay.
I was on a cruise & decided that I would hit up the blackjack table. I lost $20 in 30 seconds. I knew then & there that gambling wasn't for me. I'm still salty about it.
Instead of going into debt to live today, instead of saving for your self to have a good life later on, save up and invest for your children to pass the wealth down and create generational wealth
Or at the very least you should save so that you aren't forcing your kids to take care of you. I believe the retirement crisis is only going to worsen in the near future and people need to seriously change their financial trajectory to get ahead of it.
I admit I did buy a brand new car (small and purple :)) about 7 years ago (cost me 11000.), and I still love it, i'm going to drive it until it does not run anymore. Try buying a new car for that price right now...impossible. I checked that If I sold it, traded it in ..It would be worth 6500. I'm not selling, because another new car would cost me 26000. ...........yeah no I'm not paying 20000 for a car.) (Second hand cars are no joke either)
Man i feel like I'm never going to get ahead financially, i was building a lawm care business making decent money on tbe sode of being a firefighter, just when things were looking up, i had a disk re rupture and now I'm even further behind and still have to get surgery which i now have to go even further in debt for. On top of that i spent the past 2 months getting run around by the health care system because its a joke in thos country
Louis Vutton is somewhat "affordable" to the common folk, and the bags she got seem to go around the $700-$1100 price range. Now if it was a Berkin or Kelly bag yeah, she would pretty much need to start an OnlyFans right after she sold a kidney on the black market.
Here’s my thing. My wife and I have a small mortgage on our home and we own our primary vehicles. Most of my debt is business debt which is deducted on my taxes. I use credit cards but I pay them off in full every month. The way I see it: id rather front load credit card debt and pay off that debt when the cash flow pans out over the next 1-2 months. Fact is anyone can lose their income and go bankrupt so why not operate your life like that is a possibility? If I lose my business or if things go sideways, I can at least throw away some of the debt and negotiate later on or not. We have money and equity in our home and the stock market but no one is truly safe from complete failure.
@@Shineynsparkles sounds like an unhealthy projection. You know absolutely nothing about my finances. You should direct that energy to your own stuff; maybe your situation will improve. You do know that most business use some form of leverage right?
If your 401k is for when you turn 59 and a half and the cost of living has quadrupled in less than 3 years what will that 401k even be worth when it's time for you to pull out lol
I bought 2 fake lv bags for $100 to get over it lol 😂 I will never buy a real one and I don't care what people think. I'm over name brands nowadays. I will never get into credit card debts bc I don't want to pay interest.
