It's an honor to see you here, Girl. I know for a fact that not everyone is willing to be featured publicly, so you're actually doing us good by sharing your story here. Very inspiring and appreciated. 🎉
I live in NYC and this is what most transplants in their 20's do. Freelancing has a lot of compartments involved but I am happy Kate is navigating that realm well. I can't get over the bond her and her Dog have so precious. Thank you CNBC for featuring Kate's very realistic life.
She's able to survive there. So it's not impossible as many think it is. It's a pretty tight budget but she seems to be happy. You go girl. Bon courage.
yesss this was so comforting for me! I would love to live in NYC and people had me so despondent telling me that I would need to earn over 100k to be able to survive! So this was super refreshing :)
Yep, it also helps if you have a safety net like mum and dad's bank account ready to help you out if things don't work out. When you don't have it and you are someone's mum or dad things play out differently.
It is impossible to live on just $48k per year in Brooklyn. Oh wait a minute, she refers to her rent, groceries, utilities, pet insurance, pet food, etc. as "shared expenses" with her partner.... So the title is a bit misleading because this implies that someone can actually "live" on only $48k a year in Brooklyn. She is only "living" on that because she has a supportive partner (who probably earns a lot more money than her) to split her expenses with.
My guess is that her boyfriend pays most of the bills. They did not disclose his income so that's where my money is at. That and I'm sure that her parents provide some form of allowance.
Idk how she does it. Living in NYC is extremely expensive. My daughter who is similar age as her, lives there, earns 100k plus and still finds it hard:) I think it’s all about how disciplined one is. Rent is cheaper in Brooklyn compared to decent neighborhoods in Manhattan, also I think as she is 23 she is on her parents insurance so that helps her save too. Good that she is able to manage living in NYC and still able to save. She is smart and so disciplined with her finances. Kudos to her!
@@raginghardonetwo1544what majority of the bill is he paying? The have similar job. He is young. They split the bill for shared expenses because they live together as stated in the video. Where did your assumption come from?
Featuring someone who is part of a household, but not giving the household income or showing the actual individual percentage contribution of costs, is not an honest portrayal of the lifestyle on the stated income. If the expenses are shared proportionally, if the partner earns 30k or 80k makes a dramatic difference in the lifestyle and financial numbers portrayed in the video. Similarly if there is an unequal percentage contribution of household members.
Her share of the rent is $1150. That’s basically what many people pay in lower cost cities to live solo. Sure, she could pay $575 elsewhere. But perhaps she doesn’t think the $575 a month she would save is worth the move to a different city.
Contracts. Contacts. I'm in LA. My music friends who do music production HAVE to live in LA. They can only leave when they are in the 50's. Because by then, they are established.
People in their early 20s are classified as millennials by the federal reserve and often described as being a mix of being a millennial and gen z. But, I also don't get why that is where your focus is at.
It's nice to have video on a young person who is making a more "normal" income. There are lots of people in NYC who make less than $100K. I would have liked to know which neighborhood they are living in since it appears their rent is below average.
Yes although without her boyfriend she probably wouldn't be at this point of her career..... I would have preferred if they made the video as a couple sincerely
@@iiiiilllllllll Exactly, you nailed it here. The title could not be more misleading. She is only "living" in Brooklyn because she is able to split her "shared expenses" (especially the RENT) with someone else, who may even be paying more than half of it. Otherwise, forget about living in Brooklyn on only $48k (unless of course you want to live in public/low income housing).
@@drivethrutours1916dude, you commented on another comment about this. What is wrong with partners paying for each other if they're happy to? It's fairly common to split expenses with a partner or roommate unless people don't like you. Even people earning 6 figures split expenses or pay more for a category. What is up with you and people like you judging her on that?
@@emilyau8023Nothing wrong with it and I’m not sure anyone is judging her but in a financial breakdown video, it’s normal to expect more transparency Someone comparing themselves to her wanting to make a life in New York may not be able to do so if they don’t have a partner/roommate
Being 23 years old w/ no debt is awesome. 48K is a 'lot' for someone who has their whole life ahead of them & has no debt to cover. Ask anyone older who has massive student loans, other monetary responsibilities & gets paid a negligible amount more. She's golden!
Wow you guys have of dets for education. Thanks God I don't have debts to repay 😃. I'm also video editor freelancer with good income though I finished beachlor degree in engineering but it had no use.
Just an American thing. In Europe: Sweden, denmark, netherlands etc. you can litterlay study get a masters degree without 0 euro of debt or loan. And I didn't start telling you about healthcare. Crazy how selfish the American system is, a nation needs to provide for it citizens. (and jet Biden sends 100 billion dollars to Israel.)
She's very smart about money! I wish I had that at her age. I moved to NYC at her age with $1000 ... now that was a story 😂. That first year was insane. At one point I didn't have $5 to take the train... wild. Now I'm a graduate student at NYU's Music Technology program. This young woman is so cool.
Been listening to Kate for a while now and I can say , hands down the sweetest soul in this industry. She really is doing what most of us can’t . Mad respect kate ❤
I'm currently learning about enlightenment and this girl is enlightened. You can tell by what she says at 7:07 and that's why she's happy not focusing on money rather what she needs to do with that money for what she wants to experience. 👏👏👏
@@jones2277she’s 23 so old enough to move in with her partner. And yes young people are aware things aren’t always permanent I’m sure she would get a roommate or two it’s not hard in nyc
Her spending is $4630/month which equates to $55k/yr, but is living on $48k/yr according to the video title? Math isn’t mathing or am I missing something…?
How is her housing so low in NYC? Maybe she splits the rent with her partner. Also, the $1,200 discretionary is shocking. She’s doing great for 23, though.
Kate is very smart about money, and so positive about it too! So many people in NYC who are making this much money are negative about how expensive it is to live here. People like Kate are the ones who will make it here :) Of course it helps a lot to have no debt.
So is $48k just what she brings in or does it include her partner? Household income is what actually matters since she said they share expenses like rent, Insurance, groceries, etc.
I think 48k is what she brings in and there is a breakdown of this income in the video. There are shared expenses such as rent and bills that she puts into a joint account with her partner.
I feel like they just used a random amount. Her April spending was $4,630, which excluded her partners contributions and 12 months of that would be needing about a $56K paycheck for her alone.
Remember folks, It’s not about how much you MAKE it’s about how much you can SAVE & INVEST. That’s why people’s income never blow me away. How much time do you have to do the things you like & love? Build that comfortable lifestyle for you, don’t always chase trying the money impress strangers or peers/family. Quality of life/Balance is more important.
Since I'm a freelancer, my income fluctuates every year and month for that matter lol- this year I've been consistently earning about 1,200 a week, but since I don't have a W-2 like most people, they decided to go with my taxable money from last year, but it shifts a lot. Spent extra this month as well flying to see family
Because you don't know how much is in their current accounts right now. They are definitely overspending, but could be cutting into their savings to get the extra cash
It’s crazy how many people here think you can’t survive in nyc unless you’re making 6 digits. Not everyone in Brooklyn lives in Dumbo or Brooklyn heights 😅 Rent in bay ridge and sunset park are much more affordable. And she’s 23 only. Making 48k is great already.
She’s freelance so no employment salary for taxes to come off so I’d say it could be gross income. I hope she’s also put aside some money to cover her tax bill….
People are way too fixated on what generation you belong to and are judging you for sharing expenses with your partner *gasp* Like as if that's rare or something.
I have a similar story as she have. I finished my bachelor degree from my freelance income and have no debt but I haven't moved out from home yet 😅 still with my mom. I'm 24
