Why Americans Feel So Poor

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Here is my response to ‪@CNBC‬ - Why Americans Feel So Poor - Thanks for watching! Original video here: • Why Americans Feel So ... | Add me on Instagram and Snapchat: GPStephan
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Опубликовано:

13 окт 2023

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Комментарии : 439

@katieevans642 9 месяцев назад

I am 31, and I am at a place in life where I value my quality of life over starting a family. It seems like at this point, I can't have both.

@lillynumber2 9 месяцев назад

Same here

@mhodge0890 9 месяцев назад

Agreed

@saturn_in_blue 9 месяцев назад

Well, that's because you live in America. Graham has even covered it occasionally, but the actual way to get the American dream is to leave America and go live somewhere where the prices for everything are more reasonable.

@lakerfan9996 9 месяцев назад

@@saturn_in_bluemove somewhere with an American income.* The rest of the world is not doing too well either.

@saturn_in_blue 9 месяцев назад

@@lakerfan9996 Depends on the country. Some places the income is lower but cost of living and taxes are lower, so even with the lower income it works out better than the US. For example, I lived in Estonia for a while and it's like this, at least if you work in IT. Other places, yea, you need an American income, but you can work remotely, there's all kinds of way to do that. I work remote IT and only work 20-30 hours a week (I don't like working long hours like many Americans seem obsessed with doing), make a little bit (like 20%) over the average American salary, but pay no taxes, I already bought two houses in my country.

@blacksamuraisoffendme 9 месяцев назад

I worked for $7.25 in 2018 at an after school program in high school giving a grown adult that type of money is insulting

@therearenoshortcuts9868 9 месяцев назад

it's not an insult it's class warfare LOL

@triple_gem_shining 9 месяцев назад

What were you doing for that money? Flipping burgers? We could train a monkey to do it for peanuts and bananas 😂

@triple_gem_shining 9 месяцев назад

When you start providing value. You'll gain value.

@morganjacoby5873 9 месяцев назад

Yeah 7.25 now a days is a laughable amount.

@CherokeeMaxx 9 месяцев назад

A skilled, grown adult would never willfully sign up for a job that only pays $7.25. If one did, how is that anybody else's fault?

@CJ-fh5xq 9 месяцев назад

I am 25 and make $100k in a MCOL metro area. I still live with my parents and pay them $500 in rent. My peers think I am crazy but I am fine not giving in the lifestyle creep and life has been okay.

@gr86er 9 месяцев назад

The fact that this is looked down upon when it's the only way to get ahead is insane

@EmilyGloeggler7984 8 месяцев назад

Speak for yourself, I make under $50k a year in the KOP metro area and I lost my home and had to temporarily move back in with my abusive parents but now, I’m working to get out of here, even with the risks of an upcoming Greater Depression caused by the so-called “great reset”. I’m fine with leaving my abusive parents.

@user-hc2sz5zd3i 24 дня назад

DO YOU PAY RENT FOR LIVING IN (((YOUR PARENTS))) HOME?

@hilarywoods17 9 месяцев назад

I only have one child because I can’t afford another. I make $65,000 a year but after taxes, pension and union dues I make $45,000. My husband has his own business but makes a similar salary to me. Mortgage, car payments, daycare, groceries, etc and there’s no money left.

@donaldlyons17 9 месяцев назад

Really the local union cost $24 a month which is $288 per year!!!! So not sure why your union dues cost so much...

@hilarywoods17 9 месяцев назад

@@donaldlyons17 you know there’s many different unions with different fees. Depends where you live, what country you live in. I see my paycheque every two weeks. I’m very aware of the costs.

@Dieselman6.7 9 месяцев назад

I’m 28 and I been fixing wind turbines since I was 18, I make 240k a year now and I still love my job, right now we are currently hiring new techs with no experience for 100k a year. The money is out there if you want it folks.

@labrigful 9 месяцев назад

What company?

@chancechance2234 5 месяцев назад

no company is hiring people for 100k with ZERO experience. what a croc of s***

@hbarudi 2 месяца назад

Where? With no experience required? Sign me up.

@mareksv1947 9 месяцев назад

US is crazy. In Nordic/Scandinavian country 30k after tax is livable, because of free healthcare, education, public transit and social benefits. Look up how Finland deals with homeless and prisoners, then you gonna get it how country should be run.

@mandi3891 9 месяцев назад

Yup. I earn around 50k/year, my partner earns the same amount. We are 27 and 28, just bought a massive home. I already owned an apartment before this. We have a new car and take yearly vacations. Planning to have kids next year. We are both engineers, but we wouldn't be in this situation in the us because I'm physically disabled. My health declined rapidly when I was in uni. I was able to get proper treatment and very expensive medications for free, because of that I'm still able to work full time. We also both have siblings who have serious mental disabilities and poor parents. Practically we would have to give them money every month just so they would be able to survive if we all lived in the us.

@themuskrat5776 7 месяцев назад

It’s not free. You tax rate is incredibly high. You are also a small country with a population smaller than most states.

@themuskrat5776 7 месяцев назад

@@mandi3891calling BS here because home ownership in Europe is much more difficult and expensive.

@mareksv1947 7 месяцев назад

@@themuskrat5776 Sure, as it should be.

@mandi3891 7 месяцев назад

@@themuskrat5776 My old apartment cost me 115k€. Our house cost us nearly 300k€. I rent out the apartment, and the rent covers the mortage. The share of the house's mortage isn't hard to pay with our incomes, it'd around 25% of my salary after taxes, pension etc is taken out. The taxes of owning the property is around 200€ a year, utilities around 300€ a month including heating during winter and cooling in the summer.

@Courtney-Alice-Gargani 9 месяцев назад

My dad said middle class is more poor now compared when he was making minimum wage $5. He said surviving $10 to $15 an hour in late 80's and 90's it was comfortable than it is now even if the.

@anniealexander9616 9 месяцев назад

Instead of retiring early, parents are helping kids with homes because housing is so expensive.

@ChristinasSideHustles 9 месяцев назад

I’m a recruiter at a major tech company we all know and I’ve given some people 100k raises to get them to leave our competitors and come and work for us. Job hopping is a real wealth builder…

@jimsalmon5158 9 месяцев назад

When I was a kid, middle class meant that mom drove a minivan and dad drove a compact.

@SmartMoneyBro 9 месяцев назад

Appreciate you Brother. Great video and Loved the interview on Dave Ramsey's show. Fantastic stuff. Wishing you continued success.

@suen5006 9 месяцев назад

160K doesn't go very far any more if you are in an expensive area. Median rent in NYC is $6200 for a 2 bedroom apartment, that's over 74K just in rent alone.

@themuskrat5776 7 месяцев назад

Rent control is the cause.

@alexbernstein1450 9 месяцев назад

I see so many friends and family make horrendous financial choices and no budget/plan. Its truly sad

@VerleanHurd 9 месяцев назад

Exactly, living above their means. Wasteful spending, then complaining about not having enough money. Yet, buying designer this and that. Driving a car they can't afford, etc.

@RoseBlackGoku2023 9 месяцев назад

@@VerleanHurd dont hate.. lol hahaha just kidding

@VerleanHurd 9 месяцев назад

@@RoseBlackGoku2023 No hate. Pure facts.

@janelleg597 9 месяцев назад

Yep.

@YaBoiBond 9 месяцев назад

Me and you both. Especially family members

@TamaraGodina 9 месяцев назад

My parents have never told me how to save money or invest. But they taught me how not to spend money on something that I can not afford. That helped me not to owe any money to anyone whole my life. But I wish I knew how to save money efficiently.. I am in my mid 50th, saved up around 450k but I could have done much better if I knew all the tricks.. My way of saving money has been most inefficient way and painfully slow.. Work hardest and just keep money in the bank account style...😂

@addahHusayn 9 месяцев назад

I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances

@janelleg597 9 месяцев назад

You still have some time!!

@Millerdelo 9 месяцев назад

@Watkinsgorge definitely speaking with her soon, I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet

@franciscirillo836 9 месяцев назад

My strategy is to put half my income into the stock market at the start of every month regardless of what is happening. The second part of my strategy is not to sell for at least 15-20 years. Time in the market beats timing the market.

@TamaraGodina 9 месяцев назад

@Watkinsgorge Thanks very sharing, had a great time speaking with her, interested in her strategy and can't wait to start working with her.. happy that i won't be sending my funds over

@dirtydinner6463 9 месяцев назад

Most people in their 20s today simply can’t afford to have kids or they either have to chose between having retirement savings or kids… This absolutely will result in a housing surplus that will become evident within the next 20 - 30 years

@fishroy1997 9 месяцев назад

You're ignoring migration.

@dirtydinner6463 9 месяцев назад

@@fishroy1997 We are going to have to rely on immigration for continued population growth in this country.

@PapaChen 9 месяцев назад

Graham, please do a video of spending money like a middle class person for a day

@cvfox72 9 месяцев назад

@@AshCerto *year

@zacharyferraro19 9 месяцев назад

He’s pretty frugal so I wouldn’t doubt that his spending is similar to that of a middle class person

@dynamichunter843 9 месяцев назад

@@zacharyferraro19except for his multi-million dollar house and cars lol

@MsPieO 9 месяцев назад

@@zacharyferraro19we truly don’t know how frugal he really is.

@TheFirstRealChewy 9 месяцев назад

@@MsPieO I'm sure he's quite frugal. Remember it's all relative. Let's say being frugal is living on 30% or less of your after tax income. There will be a big difference if you make $60K vs $600K a year.

@Whisky-1203 9 месяцев назад

Definitely agree wish i wouldn't had to pay so much for mba degree-still have large amt of student loans in my fourties. The only benefit is I have all other debt paid off. Best advice I received (too late) was to only spend on education what you can earn the first year after college.

@travelnurseadventures3225 9 месяцев назад

Job Hoping is a must in my field or I'd still be making 20 bucks an hour in billings MT as an acute dialysis nurse 😑

@lofihifi792 9 месяцев назад

I make 250/year before tax in seattle and am barely getting by. It’s actually insane. Zero dinners out. I spend no money day to day.

@staplegun3703 9 месяцев назад

4:47 it depends, im a mechanic and if your have a nice set of wheels and you work with it yourself, you can save a pretty penny just by putting a scanner and fixing error codes, and oil changes and stuff with some elbow grease and some safety gear.

@CarynConnolly 9 месяцев назад

When they say “working” they mean what used to be called “blue collar”.

@AP-uk4di 9 месяцев назад

TLDR: Inflation up, wages not

@TheGrahamStephanShow 9 месяцев назад

basically

@VikingLegend97 9 месяцев назад

I feel about the whole car thing. I was dumb and was talked into getting a brand new Corolla in 2016 making just a bit over minimum wage. Finally paid it off in 2022 and now I could afford a nicer car, I kinda want a nicer car, but I don’t need it. I’m driving this baby into the ground, I was thinking maybe getting an older mustang for $10k cash, as a weekend car to have fun

@ARandomDonut 9 месяцев назад

The fact that she lives in suburban Texas is another reason why the cars are taking so much of her money. Imagine if she could walk places or had decent public transit.

@sebcubille 9 месяцев назад

literally, i fucking hate cars and driving but i live in LA for work so 95% of the time taking the subway isnt worth it when i can just drive

@SenorJuan2023 9 месяцев назад

Decent public transportation is a place that isn't outrageously expensive means living the USA.

@themuskrat5776 7 месяцев назад

They have two cars with $800 cap payments. Way too much. They could easily cut that in half.

@sarahkeb5998 9 месяцев назад

Could you give your opinion/share your own experiences on what a newly high school graduate should do. Or what are the main goals one should strive for straight out of high school? Personal mistakes and steps you would take to gain financial freedom without debt. Thank you

@itzbebop 8 месяцев назад

Find out what skills you excel at. Get good at those skills. Find people willing to pay you for those skills. Acquire more clients. Hire people to help you manage. Set up systems that duplicate your own efforts. Rinse repeat. Never stop learning

@Bubbaxmonster 9 месяцев назад

It's so sad that ppl stay pay 8-14$ In NC I'm 20 trying to go back to school for cyber security and only make $12hr

@alexgarcia2074 9 месяцев назад

I feel like having a child is a scary situation especially in this economy

@bkucenski 9 месяцев назад

I don't envy my teenager. She doesn't want to work because there was a special event at her school and her friend couldn't go because the boss wouldn't give her a friend an answer as to whether she could have the time off. Her cousin has to work and misses out on things. I'm not going to tell her to go get a job to be exploited. She has better things to do with her time. Never has my time making minimum wage gotten me a job except at yet another dead end job. "Oh, you worked at that dead end job, have I got the dead end job for you!" You're better off going to college, having a hobby, getting good at something, and then get a real job that pays real money. Parents who can, should be saving up as soon as possible to help pay for college or get a second property the kiddo can live in while they go to school. If I use my daughter's college fund to buy a property, the equity will cover her education expenses faster than a job will.

@mzcain1521 9 месяцев назад

Most people cannot afford to have children. Children are an expense that keeps on taking ….

@VerleanHurd 9 месяцев назад

@@bkucenski If your daughter gets a scholarship then problem solved. Don't just put it all on you. She need to be getting good grades. That'll lessen your load.

@redtiger7268 9 месяцев назад

@@bkucenski College does not guarantee a good job. Most college degrees are worthless and will only land you a job starting at $35,000 per year. Unless she is going for a STEM degree might as well put that money into long term T bills, you will get a better return.

@coledean8845 9 месяцев назад

Awesome content graham! Hope you have a great weekend!

@TheGrahamStephanShow 9 месяцев назад

Thanks! You too!

@TheQuest4Peace 9 месяцев назад

15:15 I think your spot on with the idea that the truth is somewhere in the middle. It’s fairly true that wages have not increased as quickly as the cost of expenses. On the other end, people are spending too much on things they don’t need. But connected to that, if they don’t spend the money, the companies don’t do well and jobs are lost. It’s an unfortunate vicious cycle that can only or solved by pay in accordance to basic living cost in my opinion. My wife and I live in a 1 bedroom with a one year old. We gross around 95k combined and have been feeling it over the last year.

@bkucenski 9 месяцев назад

You can't spend money you don't have. The only people spending money on things they don't need are people making 80K+ a year that have plenty of income and yet choose to buy massive trucks and other dumb things that consume their income. Poor people who make barely enough to live are very careful with their money because they have to be. Believe it or not, teenagers can get jobs and buy fancy shoes if that's what they care about. That has nothing to do with the household income.

@VerleanHurd 9 месяцев назад

@@bkucenski Not true, you'll be surprised how many poor people unnecessarily spend as well. Little things add up.

@bkucenski 9 месяцев назад

@@VerleanHurd it's a myth to argue against giving poor people money

@donaldlyons17 9 месяцев назад

@@VerleanHurd Well but everything adds up over time big and small ..... Also truth is people have to make money to have the ability to spend...

@VerleanHurd 9 месяцев назад

@@donaldlyons17 People are always spending money they don't have.

@marjorieantoniou2836 9 месяцев назад

Please make more videos like this! ❤

@emoney1231 9 месяцев назад

People probably wouldn't believe that median rent is similarly priced to 50 years ago, but the "Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average" went from 53 to 404.487 in the 50 years ending Sept. 2023, a 7.64x increase. Median income went from $9696.94 to $74,580 in the 50 years ending in 2022, a 7.69x increase. (No data for 2023 since it isn't over yet.)

@K71090 8 месяцев назад

2012 I was making $7.25 to $8.25. Renting a room in someone's home was $400 ($200 bi-weekly). Only making $500 to $600 bi-weekly. With nothing left just to keep my account a float. $15 an hour is $8.25 currently. I have no kids. In my 30s. And I'm thinking about running to the grave down the line.

@007thematrix007 9 месяцев назад

@ 21:45 i try to stand up every now and then ..... 🤣

@dingusfinance8931 9 месяцев назад

I feel like an old man. You can’t buy a 98 Toyota Camry with 150k miles for $1k anymore.

@quangvu8811 9 месяцев назад

Hi Graham, I know you have very strong opinions about college, but for some people that's the door to step into the US. International student placed a bet that they will able to get a better life after finish bachelor's degree, so I think college still really important. I also taken into account for many different kind of immigration as we all come from different backgrounds.

@chadbailey7038 9 месяцев назад

I’m glad you watched this and reacted 👏🏾

@K33FY 9 месяцев назад

Love the vids

@TheGrahamStephanShow 9 месяцев назад

thanks!

@sheepmellow 8 месяцев назад

Your opinions are so agreeable. I think you have really sound judgment and it's captivating haha.

@crystal14w 9 месяцев назад

I totally can relate to this woman besides the family part. I used to make around that much and my cost of living expenses kept going up in Dallas, TX. There is a huge increase in costs for groceries, healthcare and utilities. I left the city to move to the outskirts because there is no point making all that money if you are living paycheck-to-paycheck. Plus, you are forced to job hop which is not secure and your Apt will kick you out if you can't afford that next months rent payment. Imagine making 2k per month as the max unemployment in Texas and your apartment rent per month is 1,700?!? That gives you only $300 left for groceries, bills and car payments. The math is not mathing

@irrelevantjoker37 9 месяцев назад

Why are you relying on unemployment? My suggestion is get out and work. Especially now and your location I would suggest Federal and boarder patrol. Stop looking for the office job that you won't be able to compete with the new blood coming from CA that have the wealth.

@asadb1990 9 месяцев назад

Agreed. And i also think if you live on outskirts you can enjoy the calmness of day to day living. The lady wants the cake and eat it. If i lived on the outskirts, i would use the savings to work towards buying a home in the cify if that's what i want.

@TheFirstRealChewy 9 месяцев назад

If you learned about investing when you were a kid or teen, you are fortunate. I learned about investing in my late 30s. It seems silly to say it now, but I seriously didn't know you have to invest for retirement. Stocks were this thing that only people with a lot of money invest in because you should only invest what you are comfortable losing. Financial education is one of the best things you can teach your kids. I can't even blame my parents. They didn't know anything either. They are still working when they should have been retired. Their pension didn't go as far as they were expecting.

@DrStark42 9 месяцев назад

I personally think there are two other major flaw in these figures, and yes I agree with some like Graham, but the largest flaws comes to a few other items: Addictive Tendencies, and Financial Understanding. Everyone has had a financial struggle unless you are in the upper-high class/wealthy class from birth. I feel like I see a lot of misconceptions in the financial world, especially after watching every Caleb Hammer episode, or most of them.

@jimgillert20 7 месяцев назад

Great episode. 📻 🎙 🚴‍♂️👍

@user-ix8iq2tw4h 8 месяцев назад

I feel so much and so badly for her move. We had to move from California just so that my father could maintain a “middle class” income as prices and everything else rose to the roof and because I’ve been there my whole life I can say with confidence that yeah it IS California’s fault and the state will has continually done everything in it’s power to push the native population to leave. That’s why UC’s preferred students from other countries for a bit a decade ago. It gave them more money, but which was made public on the news, but what they missed is that it contributed to the price hike in tuition and now is leading to the problems we see here. Thanks Cali, I loved my home for the beautiful trees and mountains, every other aspect of that state is complete garbage. It wastes the peoples money on anything and everything, but gives little to nothing back. For all the hype, it’s honestly one of the worst places to live in the states. Almost as if it doesn’t even believe in the country it’s part of.

@BrianRussTVC 9 месяцев назад

$400 each is very reasonable for a reliable cars. That’s not an excessive monthly payment at all. Look at where used car prices are.

@PaulMorgan1 9 месяцев назад

That's what I was thinking... Two $10-15k beaters financed plus insurance is very easily close to $1200/month lol. The people driving the ritzy cars are paying north of $2500.

@Danicalifornia2233 9 месяцев назад

The point is to buy a used one, cash. If you can’t buy it cash then you can’t afford it.

@pocketing7292 9 месяцев назад

@@Danicalifornia2233sometimes people need a car to be able to work at all, which is also to make the money to pay for the car

@-Tokay- 9 месяцев назад

@@pocketing7292 Exactly why they don't need a brand new flashy vehicle.

@pocketing7292 9 месяцев назад

@@-Tokay- agreed

@jeffhall3242 9 месяцев назад

Politicians make us feel more poor, we get screwed everywhere we turn

@ellemeno0 9 месяцев назад

how common is disability a factor? particularly people who struggle to keep making it work because of the disability but are denied or haven't bothered trying (because approval doesn't usually happen for any grey area, such as someone who can manage to drag themselves out but will have random debilitating fatigue or migraine that comprimises holding a quality job).

@donaldlyons17 9 месяцев назад

Yeah S.S. will try had to deny them but if they get a good paying job I think the benefits will be cut....

@xristinarose2409 9 месяцев назад

Whoa thanks to you i discovered im in the middleclass, i never expected that i tought i was low. With these prices i *feel* low anyways

@joealanis2587 9 месяцев назад

Problem is a basic quality care now will cost $450-$600. Like would love to buy a $3000 car cash(they don't exist) but then how reliable is it, how much time and money will I be needing to spend on repairs, insurance, and peace of mind of not having a reliable vehicle. Telling someone to not buy a reliable vehicle that they don't have to worry about breaking down or needing constant maintenance is coming from a place of privilege. Especially in cities where you have to commute.

@jasmine-073 9 месяцев назад

I have an old Toyota Corolla that hasn’t failed me yet😅 I would say it’s pretty reliable considering I commute about 40 miles each day to my university throughout the week. The only thing I’ve had to have done are basic maintenance things, such as an oil change or rotate tires/replace tires. I assure you that you could find a decent priced reliable used car if you look hard enough!

@Tpearson2002 9 месяцев назад

There are plenty of $3000 cars but yes a lot less the previously mainly due to cash for clunkers type programs that were to "benefit" ppl but really forced more to buy new cars and took used cars off the market. Even then it is far cheaper to insure an older car espy when you remove comp/collision because for a cheap car those are pointless. Repairs may be more often but are far cheaper than a car payment. I've driven several cars to 300k+ miles with very little issues. Most vehicles today if taken care of with regular maintenance should last you over 200k miles but most ppl ignore oil changes, and milestone maintenance to save money which can lead to engine or transmission failures early. Most ppl are in a cycle of having a car payment of $500+ for life. The average car payment is over $700mo and ppl keep cars for about 5yrs before trading it in on average. You may not like the car but I can show you even a new car for way less monthly payment and if you keep it for 300k miles which for most would be 20yrs+ you will be a lot better off.

@versatileplaylist9637 9 месяцев назад

I bought a car for $3000 cash two years ago, I have a 2 children, car has needed a couple repairs first year of ownership and hasn’t needed one in the past year still driving strong 50k miles later

@donaldlyons17 9 месяцев назад

No your right. Just bought a 2019 for $13,500 cash and it is less likely to have serious problems.

@harrisonhinton4859 6 месяцев назад

I would want to see more info about median gross income and what the quality of life is like at that number.

@itzbebop 8 месяцев назад

Im currently living for free via house hacking. My tenants pretty much cover my mortgage and then some. My car is all paid off. I make about 60k gross per year and pay no state income tax. That said with all the cost of living for groceries and insurance and utilities, im still struggling. I dont get how other people are making it work. My only conclusion is that theyre struggling harder than i am.

@Native722 9 месяцев назад

Hey Graham, how do you interview while employed full time? Like if someone worked for you, and they disappeared hours at a time, would you get mad?

@suen5006 9 месяцев назад

You suddenly need a lot of dental work.

@emoney1231 9 месяцев назад

7:42 This is misleading. Homes ARE 190% of 50 years ago, NOT 190% higher. I found the median home price was $32,700 in 1973, when wages were around $10k, so homes were about 3x income. Median home price now is $416k, and wages are around $70k, so about 6x. Not sure if they used these exact numbers, but I'm pretty sure they mean 90% higher when wages are 16% higher.

@Big-Government-Is-The-Problem 9 месяцев назад

they've done the math regarding birth rates, the US birthrate is below replacement rate, thats why the uniparty supports open borders to let in millions of new working age people. there is quite literally a UN report called "UN MIGRATION REPLACEMENT" where by 2050 they want to import 750m migrants into the USA...

@samuelcarrasco3829 9 месяцев назад

18:31 BINGO! our system even disincentives people from becoming DOCTORS.

@Tanya-yu6mf 9 месяцев назад

Non compete agreements are unenforcable. They can't limit your option where you can work legally. Ask any lawyer, absolute most contracts companies do that in hopes you aren't smart and will obey their wishes like its the law.

@biceblue7654 9 месяцев назад

The U.S. needs to make education more affordable, not just tell people to go into the trades instead. The reality is that we need people to become doctors and teachers and social workers to have a healthy society.

@airmax5614 9 месяцев назад

I get told to go to trade school (which none of the trades I'm interested in) or start a business. (which I have no idea how to do and coming up with the name itself is stressful enough) But what I need is an economic/ financial education. Too bad it's not free because I'd definitely go right ahead if it was.

@ShawnPatton-rm2hv 9 месяцев назад

What economic growth would we have if people weren’t using so much credit in our credit based economy?

@rilleyblazer2330 9 месяцев назад

Great video as always Graham! Sadly I live in Europe so a lot of ins and outs of the American financial system don't apply to my situation but none the less I find it very informative to watch your content. A lot of general principles apply everywhere even though certain laws and systems are different.

@woodywoodverchecker 9 месяцев назад

There are some upsides to that, though. You almost have to try hard to not have healthcare, most people get a state pension, things like daycare are much cheaper, public transit, yadayadayada.

@rilleyblazer2330 9 месяцев назад

@woodywoodverchecker oh absolutely, we have a good social welfare system in a lot of ways and even though here too certain people fall through the cracks, in general it means people don't go hungry easily or become homeless often. I do have to add though that it's starting to decline and things like pensions but also Healthcare does not keep up with inflation and is getting increasingly expensive for regular people. The 'sadly' above mostly referred to that it means I can't apply great advice from people like Graham directly because our systems are different.

@woodywoodverchecker 9 месяцев назад

@@rilleyblazer2330yeah, sadly in that regard, that makes sense.

@vicksnow2924 9 месяцев назад

I agree about the trades!! I am a local truck driver and I made 90,000 in my first year, not including a $10,000 sign on bonus.

@Nickysix6 9 месяцев назад

Truck driver here as well I did 65k driving a dump truck at 20 years old with zero student debt

@SenorJuan2023 9 месяцев назад

Wages haven't kept up, unless you're top level management. Then you have obscene compensation packages.

@Youngadventuress23 9 месяцев назад

This may not be a new idea, but as someone who firmly believes in community-led decisions and collective efforts--I would love to get a little checklist that I can vote on for where I'm assigning my taxes. I don't need lower taxes, but I do want more say in how it is used.

@papipj4363 9 месяцев назад

Social media basically made people curious and value there time more then back in the day aka 2011

@Courtney-Alice-Gargani 9 месяцев назад

I love the sticker on your shirt. I need to get some.

@samuelmontypython8381 9 месяцев назад

Sadly it’s really just the families that are suffering. I made more money when I was married (no kids) and yet somehow now, making almost 40% less and single, I have way more discretionary income. I can’t imagine how much money I would have needed to make to actually start a family and take care of everything

@rilleyblazer2330 9 месяцев назад

Oddly enough I'm having the opposite experience in the Netherlands. As a single person here it's much harder than when you have a dual income household. Housing is by far the most expensive category here and rent doesn't double when you rent an apartment together relative to renting as a single person (so you generally pay less when living with a partner), and the same goes for a lot of taxes. The issue here now I do think is being in a secure enough place to start having children, but being DINK (Dual Income No Kids) is absolutely the best possible position to be in. Would you say that's different in America currently or more or less similar?

@samuelmontypython8381 9 месяцев назад

@@rilleyblazer2330 I probably should have elaborated that my first ex-wife was unemployed, so that burden mostly fell on me. She did get unemployment but it was half of what she usually made and we required a larger rental unit for space for everything we owned. Being single (and having less than a third of the amount of stuff she had) I rent a much cheaper studio now. To answer the question, yea it’s probably easier with dual income, no kids here in America too but that depends on how much the other person makes and whether they can pull their own weight financially or not

@labrigful 9 месяцев назад

Some wives help budget and save you money. She could have been making affordable meals, and finding deals on necessities. Your ex had no money and a spending problem. Sorry! @@samuelmontypython8381

@BoldFollower 9 месяцев назад

Repairs go up with an older car, maybe the parts are cheaper, but more breaks more often unless you are handy, which many people aren’t

@donaldlyons17 9 месяцев назад

If they can keep their expenses low...

@themuskrat5776 7 месяцев назад

Not necessarily. We tend to buy older cars, haven’t bought new since 2001 and repairs aren’t that bad. We have a 2015 Volvo and a 2012 F250. On a new car today the avg pmt is ~$700/mo or ~$8400/yr. I guarantee a ten year old car will cost half that or less in repairs each year.

@a.p6732 9 месяцев назад

I want to know what graham does his research with😂

@whorhaydelfuego7190 9 месяцев назад

That Cell phone bill is crazy too. Spend a couple hundred bucks on refurbished iphones or something and then get a $15 a month plan, and set your phone to always use your wifi over cell data. I'm all for buying cheap but reliable cars and driving them into the ground. That said we recently paid through the nose for a new car which will hopefully last a decade or two, and I have to say the features on an expensive car might be worth the expense, particularly the fancy collision detection and avoidance stuff.

@marygem 9 месяцев назад

I have been making $15 an hour since the 80s. I was told last year that I couldn 't be paid for the same job more than $16 per hour. Really... a $1/hr more 40 years later when inflation was at 2% a year since?

@mzcain1521 9 месяцев назад

What is your job? What part of the country do you live in?

@jeffrounsville4961 9 месяцев назад

Great video

@Warrenmitchum 9 месяцев назад

How many times have I seen this same argument in your videos? I mean I literally just had dejavu.

@davidmilhouscarter8198 9 месяцев назад

4:42 Eight hundred for both vehicles or $800 each?

@turtleanton6539 7 месяцев назад

Indeed

@BrandonLee_7123 9 месяцев назад

My wofe and I (8 years together) haven't had a kid because of how expensive everything is. We make about 180k

@JackNapierKnows 9 месяцев назад

Yes Graham... Let the critique of government flow through you...

@dindog22 9 месяцев назад

people spend too much on credit cards, cars, meals out, Starbucks, and "dream" homes. People need to dial it back

@lou7139 9 месяцев назад

UBI is a trojan horse. There is no such thing as a free lunch. We already having trouble with SS and you can't even get that until you retire! If something looks good on paper, just crumble up that paper and throw it in the trash. It won't work in practice!

@bwofficial1776 9 месяцев назад

UBI is unworkable. We can't print money forever out of thin air, no matter how much the government wants to. Besides, why should people get handed money for doing nothing?

@FreedomFinanceFun 9 месяцев назад

160k they don't know how manage their money and probably tons of debt

@richardprice4839 9 месяцев назад

160k in any part of texas is really good money. Dive into their finances and youll make Dave Ramsay turn purple

@ludwigvonsowell5347 9 месяцев назад

That 50% are in noncompetes is a misleading stat. It says half of firms have people in non-competes. You know who are prime targets for non-competes? Salespeople, so they don’t poach clients.

@user-ix8iq2tw4h 8 месяцев назад

I feel so much and so badly for her move. We had to move from California to maintain a “middle class” income as prices and everything else rose to the roof and because I’ve been there my whole life I can say with confidence that yeah it IS California’s fault and the state will and has continually done everything in its power to push the native population to leave. That’s why US’s had a preference for students outside the county. On the news it was for money as these students paid more, but now it’s contributing to the increased price of education and leading to the problems we see here. Thanks Cali, I loved my home for the beautiful mountains and trees, but every other aspect of the state is complete garbage. It wastes the people’s money and gives little to nothing back. For all the hype and despite being so woke, it has to be one of the worst states to live. Almost as if it doesn’t believe in the country it’s apart of.

@MylesHSG 9 месяцев назад

Graham joining the Yang Gang baby

@EmilyGloeggler7984 8 месяцев назад

Speak for yourself, I make under $50k in trades a year in the KOP metro area and I lost my old home and had to temporarily move back in with my abusive parents but now, I’m working to get out of here, even with the risks of an upcoming Greater Depression caused by the so-called “great reset”. I’m fine with leaving my abusive parents with my husband and moving back into a new home, even if it’s a rental property because we still can’t afford to buy our own home and moving on from trade jobs which are toxic and unnecessary.

@akihealybeautiful135 9 месяцев назад

That’s the minimum wage in Japan at least 40 years ago… Feel like back in time..

@RossLemon 5 месяцев назад

I'm not sure if I have any sympathy for HENRYS or people in the middle class because most of their issues are self inflicted. They have high student loan debt because they willingly signed the paperwork to get into tens of thousands of dollars worth of debt. They have thousands in automobile debt because they just HAD to get a brand new car. They're too good for a 2003 Honda Civic apparently. And they're over their head in their mortgage on their gigantic McMansion.

@AirmanKolberg 9 месяцев назад

“Working class” is below “middle class”. They’re just using the traditional definitions.

@Soljarag5 9 месяцев назад

160k is middle income??? Lmao

@bobneedham6224 4 месяца назад

I think he is brilliant on so many issues, but totally oblivious to the working of representative democracy. It’s nice to be rich.

@nobutseriously764 9 месяцев назад

You feel poor because you are poor? Lmao this guy. I am out bro!

@lostinauniverse8713 9 месяцев назад

The problem is owning a vehicle? Like what? Each need a transportation? Like 400 for each car is not a high end car like what?

@ce00yonow28 8 месяцев назад

Stephen you need to know if you live in the outback you need an expensive landcruiser its a fact

@millabasset1710 9 месяцев назад

$7.25 an hour? That was a good wage when my dad was in high school. Did Joe Biden still have hair back then?

@greenlantern1986 9 месяцев назад

Goddamn Graham, we get it, you're anti-worker.

@FirstNameLastName000 9 месяцев назад

All these people need to read "The Psychology of Money" -- so eyeopening

@samuelcarrasco3829 9 месяцев назад

12:40 it doesnt make sense to me because it seems like when the worker uses technology they are more productive netting more value to the capitalist per hour therefore the worker should get a higher cut of the wealth their labor generated. I think that if this chart were to be spread out over time with the same trend. then employee wages will eventually be virtually horizontal while inflation just continues on linearly upward forever? Look up how much of that inflation we’re seeing is due to naturally rising and falling(lol) economic costs vs how much of it is just corporations increasing their profit margins. Seeing a chart where tech advances and that causes people to work less hours while being more productive than ever and prices still increase while wages stagnate and inflation just keeps making our money worth less and just being like “yea that makes sense” shows a capitalist class bias. That chart is most definitely not sustainable. Wages should increase proportionally to their productivity and it hasn’t.

@supereldian 6 месяцев назад

Let’s eliminate income tax but have a standard sales tax or value-added tax.

@AR-ln7ln 9 месяцев назад

I take home $5000 after taxes. Half of it goes to rent and bills, the other half is for living for the two of us. That's plenty because I still remember when I took home only $2k. I'm a master of living on less and budgeting.