Why 70% Of Millennials Are Financially SCREWED

[@cristalcruzzin1756]

This month I became 100% debt-free. So I’m glad to say that I don’t fit in this category. I have two semesters of school left, I’m almost done saving up for that. So I’ll graduate with zero student loan debt. Thank God.

[@grahamfan]

That is awesome! Keep up the great work. 😊😎👍

[@MichelleMarki]

Congrats Cristal!!! You're def on the right track and I'm happy for you! :D

[@1Phedre]

Congratulations! A huge accomplishment, seriously.

[@chrisgonzalez5883]

Same here no debt.

[@marinmaths3826]

Stupid way to spend ur money

[@samanthadavis6309]

I wish you'd do something about people making between $25k-$35k. Realistically there's a ton of people who don't make $50k+. Much less a $100k+

[@Kaybye555]

Right, it's always about LA or New York...

[@deesplash7087]

Right

[@yaniraurenda1214]

Yaaasssssss

[@jmoneil13]

Finance / budgeting channels don’t like to analyze incomes where it isn’t the person’s spending habits as the reason they aren’t financially secure. 🙃 Find this frustrating too

[@Ravie1]

TBH the answer will almost always be "live very frugally or find a higher paying job". No ammount if bugeting magic will maje money that wasn't there before appear.

[@Mario-jj5wk]

Imagine making 100k living paycheck to paycheck 🤦‍♀️

[@isabelleedmundson4703]

Embarrassing

[@giantdad1661]

@@DavidEVogel Poor budgeting there.

[@jr.3212]

100k really isn’t much after taxes just for living average. And God forbid you have kids then it feels like pennies😬

[@1hollow23]

@@jr.3212 that is what I am SOOOOOOO HAPPPY I do not have kids.

[@bannertraveller5879]

@@1hollow23 Sad. who will take care of you when you are older?

[@skoopqueen]

I Invested and worked so hard so I am my children won't be a millennial. I am 45 years old single mother living in Texas I am hoping to retire at 50 if things keep going well for me. Bought my third house last month and I can't be proud more can I have right now. I am so glad I made good decisions about my finances that changed me forever

[@cathenido1624]

Congrats sweetheart. You're doing good at your age. I'm 42 and my finance is in a mess. Any good tips would go a long way in shaping my life

[@eadad4371]

Hoping to get to your level someday. I keep Investing 50% of my income in the stock market and since then ..my games being up

[@cheatyjazzy6138]

I’m not retired yet, I love my job as a bartender. I love how people share their life with me,daily experiences after work while having a drink makes me feel happy. I’m working not for the party but my happiness. Worked so hard in my late 30’s and early 40’s saved so hard made investments (I was in good hands with my financial advisor) I’m definitely enjoying my rewards.

[@skoopqueen]

@@cathenido1624 Oftentimes, investors think about the investments thatcould prove to be the most advantageous in the current moment. This is normal; as humans, we have a natural predilection towards long & short-term thinking. Considering your ready to make a difference, I recommend you Reach out to "TRAVIS ALAN PETER" Just google his name , his site comes up. He works with a firm that helps people with Investing ,budgeting and FIRE related issues. He has being useful in my financial journey

[@skoopqueen]

@@eadad4371 same here Investing in stocks ,real estate and BTC, also helped in my journey

[@brendafowler3522]

I'm a millennial, and I think one of my generations biggest failings is that we had a crap financial education when we were younger. We weren't taught how to budget, save, invest, etc. In fact, a lot of us have parents that never learned to manage money either. Instead we were encouraged to take out insane amounts of student loans at 18-19 years old without any real context of how that would impact us in the future. I've spent the last several years educating myself on finances and learning how to invest so I have more then one income stream now. This is knowledge I absolutely plan on passing on to my nieces and nephews (and my own kids if I ever have any).

[@amberdiaz6366]

I remember my mom making credit card payments with credit cards. I did not learn how to budget from her.

[@PamelasEngel]

@@amberdiaz6366 ditto. My parents are still paycheck to paycheck. I really want to learn to invest but don’t have money to do it. I’m in trouble too living paycheck to paycheck and can’t get out of the cycle because credit cards are too hard to pay off and our mortgage is alot.

[@misterogers9423]

While this is certainly true, we also have more access to free knowledge and information more than any other time. Simply, just budgeting and investing is easy to start. Hands off and passive approaches usually outperform any kind of managed fund or complex strategy, which eliminates a lot of the learning curve. My parents were incredibly frugal, but it wasn't until I was older that I realized it was a blessing. Covid perhaps cut some spending habits as well.

[@willjames6609]

True and not true. A great number of millenial boomer parents made home and some stock investments and through endless spending have benefited from the rise in assets and destruction of the dollar. Boomers keep voting for mega bailouts of banks, endless wars, more social spending, because it keeps boosting their asset value and they get to feel good like they voted for some noble cause. Boomers sold out gen x and millenials.

[@baizawai]

My middle school required us to learn budgeting. But yeah they don't really talk about investments or interest rates.

[@jefftothefree]

Fun Fact: Before I was in student loan debt, I managed my money and saved $1000 every month (when possible) and STILL couldn’t make ends meet so I had to sleep on my friend’s couch to move to another state. It’s not always about money management, it’s about being paid a living wage. I could never even use my savings for ONE vacation cause I would screw myself.

[@Jimothy-723]

also, if your saving 1,000$ a month: that means you had 12,000 per year of disposable income. your choices got you there.

[@Mindyours5512]

I love that Grahm humbly asks people to hit the like button, he's completely upfront about how it helps him.

[@theintrovertedaspie9095]

Better Ideas does the same thing. I like that guy.

[@Cajunventures]

Thankful to be a debt free millennial. I owe it to quitting corporate and working for myself. Your videos are one of my favorite sources to learn what school didn’t teach us about money.

[@Cajunventures]

@Michael Davidson recommend 10/10

[@Mistyfgdf]

Man I’m aiming for that. I’m 18 and have a trade job but wanna retire or work for myself soon instead of “the man” Iv got an investment that blew up, if I’m able to cash it out is just live off dividends… just praying right now

[@intuitive_duck]

I'm debt free as well. It's so freeing!

[@InvestmentJoy]

The sad reality I see is kind of a finance/work waterfall starting from the WW2 generation, to boomers, to gen X , to millennials where work ethic, and knowledge didn't transfer. All the "Do this, don't do that" has been preached but never really why. I've run into this endlessly in my family, sitting down talking to people from my Grandparent's generation (ww2) about why they did the things they did, and virtually none of their kids (my parent's generation) ever understood why they worked the same job for 40+ years, etc. The reasons why were very, very important : They had seen the harshness of life growing up during the depression, then followed on by WW2, so the fact they could get a good paying job, benefits after the harshness of what they'd grown up with was a HUGE driving factor. Then they made pretty marginal investments, and...ran them to the ground. It worked for them, but few if any understood why any of it worked the way they did (Why they were afforded a pension, why they could invest, etc).

[@darklightprojector2688]

I hope you’re speaking just for your own grandparents and not of the Silent Generation as a whole, because unless you’ve done thorough research, interviews, surveys, etc. you’re really making a blanket summation tantamount to when people say ish like “Gen Z has the attention span of an amoeba.” Sure, this sort of statement on a group is accurate for many of its members, but it would be erroneous to present it as though it’s true for all or even a majority depending on the veracity of the claim. Anecdotes do not represent the state of a matter, no matter how subjectivist/post-truth the zeitgeist becomes.

[@gilojager7425]

ive rarely ever seen such a confused comment.

[@breachlabs9727]

The main reason the boomer generation (and older) worked the same job for 40+ years was because that was the path to retirement. Companies used to offer pensions, and thus you were incentivized to stay at the same job. Now we are all in charge of our own retirements with 401k's, and your employer can choose to help a bit, but it's nothing like it was before. So if you can switch jobs and get a significant raise, which means more money towards retirement, then why would you stay at the same company for 40+ years? The times have changed, but there are still many people stuck in the way of thinking of when pensions were a common thing. It's important to have a good work ethic, and I would encourage this generation to carry that forward from past generations, but don't listen to your grandparents when they try to tell you how to prepare for retirement. It's not the same world they grew up in.

[@BigBossIvan]

@@breachlabs9727 this is accurate. Also back then loyalty to a company was far more rewarded, similar to Japanese businesses vs the standard nowadays of the cheaper the worker, the better. 20 years means nothing to an employer if you can be replaced to save a few shekels.

[@UrielX1212]

@@breachlabs9727 It is not all roses and sunshine. Many companies went under and the defined pension plans that those boomers had evaporated. Just look at the salary employees at Delphi who lost 70 percent of their benefits. Things change for the better and for the worse. Just look at how cheap electronics, movies and entertainment is now. No one spending 8K for a laptop anymore. The world is different no doubt but you must adapt and keep things in perspective.

[@jrisbak]

I went from having a few hundred dollars left over to paying off over 9k in debt by really looking at my finances and issuing a snowball for a few cards and taking a loan to consolidate for lower interest for the remainder that I owe

[@tonymontana1996]

Stud. Great job.

[@nicolasnewcomb8514]

Congrats bro, keep winning💪

[@withwilk7473]

So you transferred debt to another debtor... you didn't pay it off 😂

[@jrisbak]

@@withwilk7473 no I paid down over 10k in debt then consolidated the rest into one loan with a credit union at a drastically different rate.

[@joshleland1776]

I work in big tech in Vancouver..I save over half my income..I cannot afford one side of a duplex (1.3 million). It's insane.

[@EverydayKindaGuy]

400/mo on clothing? I'm lucky if I buy 100 in clothing every so many years. 500/mo on entertainment???? Man, I was raised differently.

[@javanjackson6918]

Same, plus I barely make 30k no way I could spend that much if I wanted to

[@annasofhiafejmailcomdoroni4725]

Im proud to tell everyone that I'm debt freeeeeeeee 😍

[@pollyandrade2125]

Yayyy!🥰

[@intuitive_duck]

Congratulations!

[@MegaKiri11]

We all know the Avocado Toast is the main culprit here.

[@olympicfireball]

That and Starbucks coffee

[@gilabsolute1353]

And iced coffee with oat milk 😄

[@JC-og2rc]

No but the $300 avg monthly car payment probably is

[@howtoadultschool]

It's amazing how this correlates with how exactly 70% of millennials love avocado toast 😂

[@danishacothiere6074]

@@JC-og2rc that feels more accurate

[@williamc4221]

Whatever your age, it comes down to delaying gratification. Save first, then invest/purchase assets rather than liabilities.

[@bigreddaman5988]

Whoever is spending 2200 dollars a month on groceries has problems.

[@RelentlessRejects]

gotta stop shopping at Whole Foods.

[@DaveDepilot-KFRG]

or $500/mo on entertainment or $650/mo on vacations or $400/mo on clothes

[@andrewvu712]

when i live alone, i spent about 80 usd every 10 days through HEB online shopping i think

[@noone-hd1ck]

@@DaveDepilot-KFRG even though the other two seem stupid, $650/month seems good enough for someone who earns more than $350,000/year. If i earned that much, i would spend $650 on vacations too, maybe even more

[@StrokaReviews]

@@andrewvu712 about 60 for me

[@David-sq2en]

4:23 "At the end of the day, with 350k they can not save enough money for retirement..." First thing in the spreadsheet: 38k a year for retirement.

[@harsh1225p]

1.5 million is not even that much for retirement, and especially not in the next 40 years, 1.5 will be like having 2-300k for retirement.

[@lqserss]

1.5 million is easily enough for retirement, if you invested it in an index fund and took out any dividends and anything else you need. I don't believe in retiring though, unless I got $100M. 😬

[@harsh1225p]

1.5 in 40 years is like 2-300k which is not enough

[@HypeBeast764]

Bro why r u worried about retirement society will collapse wayyyy before then lol

[@Bacciagalupe]

The world needs more Graham

[@setorious]

Makes sense why my friends call me so cheap. Also makes sense how they have no money even tho they make more money.

[@ZiggyisAmazing]

Good for you!! Not cheap, just smart with money

[@boludoconcamara9298]

I like to say I'm not cheap, I'm just thrifty... I also don't usually get a second date

[@vincentbailey1691]

You a frugal, not cheap

[@regretfulturtle2612]

Heck yeah, frugal life.

[@mariehartley6011]

I wish it was that simple for my family to afford housing for less the 30% of the household income but we are living in a basment apartment which is the cheapest we could find and its still well over 30%

[@withwilk7473]

Move then...

[@TheIcedCoffeeHour]

Fortunately im not a millennial :D (GenZ) Really needed this, you're my favorite! -SUBBED

[@GrahamStephan]

YOU GOT FIRST

[@Svoss6]

Same!

[@grahamfan]

Hi Jack, You just got first barely. It was a matter of milliseconds. Congrats! Good to see you as always. 😊😎👍

[@financemadesimple-personal2086]

Me too, established in 1980!

[@iiilliiill6451]

wow that means you don't even have a job

[@martallums]

If I made $350k I'd literally be rich in less than a year! I can't imagine keeping up with the Jones. What could possibly be worth spending 50k+ on each year when you're 25-30?

[@moonmagickal3634]

Same. I have no idea

[@paddyanglais91]

I’d be retired in three years tops.

[@dr.hero18]

everyone literally everyone says that until they are making 350k and making the same mistakes! is not easy when ur mind is not trained

[@ronpearson1912]

@@dr.hero18 The box truck guy in silicon valley did it until he got caught lol

[@angelgjr1999]

I’d be rich making 100k. Let alone 350k.

[@anthonysciabarrasi2611]

because finances isnt taught by schools, generally it was taught by parents but parents are hush hush about their finances which is one of the WORST things a parent can do. they get all this money and dont know what to do with it so they just spend it until theres no more. if people broke this stupid status quo of "dont talk about others finances" everyone would learn the value of a dollar.

[@unspokentenacity]

EXACTLY! It’s absolutely terrible. I think it’s because it makes people feel uncomfortable. I tried to bring up the topic of investing with friends and it lasted maybe 45sec then they switched the topic to Tinder and Instagram and instantly everyone became fully engaged.

[@BTrain-is8ch]

People will find any number of excuses for being financially illiterate but the accountable party is always staring back at them when they look in the mirror. All of the basics of personal finance are readily available, for free, online. The concepts are all easily verifiable for anyone with a grade school level command of math. People that don't know the value of a dollar these days have chosen that existence for themselves. The rest of us need to let them live the life they've picked as well as allowing them to suffer the consequences of their poor decision making. We need to stop trying to bubble wrap things instead of allowing people to fail and learn the hard way.

[@FlyLikeAirplaneKnows]

also, the parents come from a generation in which they could just be winging it and still end up with a roof over their heads. the economy is way different now, of course

[@howtoadultschool]

Man I completely agree with you! This cultural trend of making conversations around money 'taboo' is so damaging to the younger generations. It's astounding that so many of us aren't taught about finances and then are shamed for not getting it right when we're left to figure it out on our own. The school of hard knocks is NOT how we should be expected to learn about financial management!

[@howtoadultschool]

@@BTrain-is8ch I do agree with you that we all can take accountability for our own continued learning and definitely should do so. But given our current school system where we're not expected to learn things like biology 'the hard way' and I don't see why that's how we should learn personal finance which is arguably one of the most important skills we each need to develop.

[@meghanmarks1270]

Though these figures were depressing for millennials everywhere, it's nice to know I am already making these best practices part of my routine and encouraging my friends to do the same. Hopefully, your words, Graham, can help many others avoid these common mistakes. I will also add preferring tea to coffee, and specifically the tea from my collection at home or work, has saved me many a $. :)

[@Jimothy-723]

"best practices." could you sound any more like a corporate parot if you tried?

[@alech9418]

As a college student the biggest problem seems to be a gap between reality and expectations. People my age think they can live, dine, and spend just like their parents. That isnt how it works. You have to earn your way to that point by saving and investing.

[@Pelemorra]

My rent with all the fees (internet, pet fee, parking, rent) is about 60% of my income. BUT! I just got a new job with higher pay and it's work from home which means my travel time is cut way down and I can live anywhere within a 1hr drive of the office meeting spot (no actual office, just a central location) which means my rent can be drastically cut. And I have a goal of reducing my belongings to be rid of 85%+ so I can live in an even smaller home and not have to pay movers when I do it. One of my favorite perks of the new job is free financial counseling which includes retirement :)

[@StrokaReviews]

Nice 👌

[@RobynStephens]

Congrats! Trying to look for a wfh job as well out of my city because rent here has jumped to ridiculous prices within the past few months.

[@howtoadultschool]

Wow congrats! Also that's amazing to hear that your new job is offering financial counseling and that you're taking advantage of it. What a boon!

[@1stRedCommander]

people cry about not having money but eat out everyday and get Starbucks on the regular. oh yeah and weed

[@waltermh111]

or order delivery. Saw it myself living in a dorm. People are their own problem, not the system. Entitlement is also.

[@vickiblum904]

Companion plant your weed with oregano, lavender, basil, borage, lemon balm and garlic and you will have healthy weed and fresh herbs at very low cost and will actually be saving money. Invest in what you need for great coffee at home and initiate regular potlucks among your friends. Find a potluck dish your signature dish that people love and can be frozen. Make this in bulk and store in containers in freezer to pull out one for every potluck.

[@1stRedCommander]

@@waltermh111 oh yeah delivery!!! There's no way I can bring myself to pay someone to bring me food.

[@waltermh111]

@@1stRedCommander definitely not if a person is also complaining about money issues while creating debt by using their credit card for unnecessary things and keeping a balance on it due to wasteful spending.

[@ang350]

See this all of the time with my co workers. They will spend $10 a day on Monsters, eat out for lunch and dinner then whine about being broke.

[@Edbrad]

Too much debt, not enough income, house prices too high, no assets, prioritizing expensive cars vs assets

[@tylerandrew5789]

It’s the coffeee and the like. It spirals out for so many people if your convenience purchasing and owe money on a credit card your committing financial suicide and it doesn’t matter how much you make.

[@StrokaReviews]

Helpful tip: skip out on holidays and non-stop shopping. Find a hobby that helps you not take from you.

[@tweedytreks]

Full transparency, I'm hitting like 7/10 times simply because of the witty funny way you remind me to do so.

[@GreenNutGuy]

I like how you see " the Graham scheme" of things.. :D

[@carloshernandez4395]

Takes a split second to hit the like button on these videos. You get so much good information to move forward in life yet not many people bother.

[@forthelulz8085]

HMMMM... classes like home economics, woodshop and other self sufficiency's have been have been removed from HS during our generation. Then on top of that we were taught that we were never taught how to balance a budget or anything else useful for being an adult. The only thing pushed on us was to go to college or end up being a bum... I wonder why we have this problem...

[@VisualVenture]

Millenials. Walking around like they rent the place.

[@TheIcedCoffeeHour]

😂 S tier joke

[@GrahamStephan]

who do they think they are?!

[@spencercarr8257]

If you make more than 100,000 a year and live paycheck to paycheck, you have a problem....

[@grahamfan]

Yeah, Something is definitely wrong with that picture for sure. 😊

[@HypeBeast764]

Then don’t live in California

[@nicholashugh5774]

@@HypeBeast764 just live within your means, I never understand why people buy things they can’t afford.

[@alliemaricru1551]

@@HypeBeast764 not even. I live in Santa Monica, my total expenses. Car insurance, rent, health insurance, phone, electricity, toiletries food equal around 30k a year. Whatever else I want to do is extra and I don’t have a hard time putting it away

[@adriennemoore7380]

Ok that BART janitor worked an inhuman amount of overtime to make that 200k+ salary there's a bunch of articles on it. So misleading to say that a janitor makes that amount lolol.

[@nickmattio3397]

Simple answer, just have wealthy parents you can assume to inherit everything from let alone their extensive real estate and stock portfolios, problem solved

[@zhao11214]

Totally agree about barely having savings despite making 'good' money in HCOL. My location is limited to around my work due to distance restriction, housing is expensive here... about 4500 a month for a 2bedroom, for couple with a kid. live in nanny is 7000 a month bc i work tons of hours, including days and nights and weekends/holidays. add in food, health insurance, car, utilities, there is pretty much no money left lol. its insane. Many people dont realize with some 'high paying jobs' comes with terrible life style and you just dump that money in costly stuff like nanny because you dont have time

[@sercets]

i'm (GenZ) and i'm 12 why i watch this because i want a better future for my finance.Also i have been watching for four year and subbed.

[@financeabcs]

Good for you Edison!! You are absolutely correct to get financially educated!! You can save and invest and compound your money for a very long time!! 🙏

[@matthew8153]

You know the cheapest way to buy coffee? Don’t buy coffee. All I ever drink is water.

[@idontwantahandle510]

You disgust me. I can't believe we allow non coffee drinkers to breath the same air. Find Jesus and do better.

[@matthew8153]

@@idontwantahandle510 Jesus never drank coffee.

[@financeabcs]

@@matthew8153 Jesus drank wine!! 😊

[@ripplerfx]

I always buy the Peets ground coffee at Safeway, it goes on sale literally every month and I buy an 18 oz back for $7, it lasts about 1-2 weeks per bag or about .50 to $1 a day

[@idontwantahandle510]

@@matthew8153 I love my coffee bro. If Jesus didn't drink coffee then I'm switching to Islam. I'm sure Mohammed drank coffee.

[@stephen-finance]

I am getting so tired of Millennials and their attitude... always walking around like they Rent the place. 😆

[@MichelleMarki]

Haha funny

[@kuuryotwo5153]

Too close to home.

[@phazon100]

Bitcoin fixes this.

[@m8956]

People waste their money on the dumbest BS.

[@canadude6401]

$350k a year in very very high income! Hardly middle-class. Our household makes substantially less, but our key factor is that we make the right choices on money. We don't spend $8000 a year on vacations or $6,000 on entertainment !! We make smarter moves..buy what we need, not impulse purchases on what we 'want'. We buy stuff on sale, shop at discount stores, eat out at restaurants rarely, pack lunches and coffee from home always. We also have never bought a brand new car ever. It's like the old adage...it's not what you make it's what you keep. Our lifestyle is excellent and fun, but I can guarantee because of our frugalness (not to be confused with cheapness), our net worth is probably at the same as people making more income than us.

[@AnymMusic]

I am a student living on under 1000 a month. how the fck do people go broke at 100k a year

[@miked7212]

lol I know. Too much Starbucks I guess.

[@ThomasGillot]

Have four kids. 😃

[@youtubecarspottersguide1]

@@ThomasGillot 2-3 ex wife's / girl friend s the kids moms can help you spend that money you get whats left if any

[@gasdorficmuncher9943]

too many ex wifes ? and kids

[@baseballbrock91]

From a millennial's perspective, we are one of the most nomadic generation and love eating and drinking out more than any generation due to them being the first social media generation and the big FOMO lifestyle

[@SaikoSoda]

Ah yes. So happy I am out of that cancer loop of social media, invest/save, and make my own coffee 😊

[@airthrowDBT]

Or, you know you will never afford a house so why not enjoy life a little before dying?

[@baseballbrock91]

@@airthrowDBT there's a lot of truth to that, especially if you live near big cities or the coast

[@airthrowDBT]

@Caiden Sounds boring tho I bet your bank account is good

[@MichelleMarki]

All the good also comes with the bad I suppose

[@Tjunlimited]

Not a Millennial (a Boomer 47) no one ever taught people where I'm from how to manage there money. Good thing I found you. I'm waaaaayyyyyyy better now! 😀 Thanks Graham. You provide a much needed service.

[@itchyscientist0576]

47 would make you gen x, unless your a time traveler of course

[@christianc8256]

The problem is not money management

[@PABLO6941]

As someone who lives in the Boston area you can definitely get much cheaper housing or rent right outside of Boston for a fraction of the price and still have a short commute

[@BitcoinClips]

You see all these advices require just a mere change of behaviour and habits. You already have the income but you just need to get control of your spending. If you don't already have an income or a decent job and you're looking at this thinking how does this help me? Well then you look else where for advice and do something. Like Dave Ramsey, he can only help a fill the sink hole, but if you have a small boat or raft made out of twigs, they can't help you. That's where you have to get creative for your set of problems. Don't look at these people and say, how you would do this instead of that if you had their income. That doesn't help you. Forget about that and aim for goals that will get you there and have an unwavering commitment to it. Edit: I know there is someone out there that needs to hear this, especially the second person I described. It's easy to point out the common sense of knowing not to blow that amount on groceries ect. But it's harder to admit when you mostly see it that way because you don't have the option to spend like that. Its far less painful for you to criticize those with a higher incomes rather than admitting that your problem is far worse in any case. We've all been there.

[@billschwandt1]

I needed to hear this

[@thetopic5302]

Did he just say a bout made out of twigs

VERY VERY TRUE!! LISTEN UP PEOPLE!!! 👏

[@Jerrilynrene]

@@thetopic5302 haha! Right! He’s saying some people aren’t even close to having income like this so it’s easy to say, “oh I would never blow my money like that.” But you have to ask yourself if what you’re doing now is the same -if not worse- than what has been described

[@Jakecooks]

This is very true and most who make more money tend to live a bit more comfortable and there is a great chance if everyone got landed that same income then many would end up doing the same. As I started making more money I also got caught up with spending a bit more, not paycheck to paycheck but definitely some waste. Comes down to willpower and control. I don't need that Starbucks today, keurig made my coffee for $0.30.

[@ukrainium_92]

I learned more things from him than school. Smashed like

[@grahamfan]

Thank you very much for smashing the like button. Have a great weekend!

[@DogKama]

As a millennial that has recently learned about investing the past two years, I can say its also a lack of financial education. Unless you taught yourself, no one teaches you this important information because it will hurt their wallets!

[@budder9856]

Money management should be taught in school, but there will be people who won’t pay attention to the class. If people don’t pay attention to the class and they fail financially, the classes will be blamed.

[@wholesome122]

agreed. This should be half of what they teach in high school. Half the classes should be personal finance.

[@grahamstefaan]

Graham should be on every 12 year Olds TV. Buy and hold. And 19c ice coffee.

[@user-iv6ty3cd5i]

Financial education never was and will never be. The government doesn’t want you to know. You’re part of their plan. Get a job, buy a house and cars and have lots of debt and pay lots of taxes! 🤔

[@randomrealestateinvestor1694]

My 26 year older brother (I’m 20) wanted a financial advisor for a Roth IRA… bruh

[@christianleone1770]

*spends $7800 per year on vacation* the system is rigged!

[@martinnel1347]

South African here! Love your content... getting my first credit card now after you've inspired me to take control of my finances. Finance awareness has really given me a goal to aspire to: early retirement

[@dluff]

Lack of teaching from the schools and parents on how to handle money. I did not start my retirement and investing until age 28 and losing those 10 years hurts.

[@ghost21501]

One thing we tend to forget about keeping up with the Jones's is the fact that social media drives the is drives this phenomenon.

[@Iburn247]

I just paid off my mortgage and I'm 36!!! I can't wait for the next chapter!!

[@StrokaReviews]

HOUSE PARTY 🥳

[@TANQ31]

Nice job man 👏🏻 I have a question: why did you do it? Or more specifically, now that it's paid of, what are you gonna do!?!

[@slowpoke97]

hey now you can work on a rental property and that would be your retirement investment. and it may even give you some passive income. so now I don't have bills and I don't have to work. that's what I did. I basically retired by the time I was 40.

[@intuitive_duck]

@@slowpoke97 That's a goal of mine to own rental property as another form of income.

[@What-t8n]

People don't know how the budget and the social pressure takes a toll on most people. I live now in a City, California and I am considered low income. I make about $30k a year. Too much to qualify for Obama care, thus I pay my own. However, with that money I am able to get an apartment, have a vehicle, buy groceries, make saving, and still be able to go to Europe once a year. It is inevitable that people are jealous of I. I paid off my vehicle and if I make a bigger purchase, I can pay it with cash. My savings are almost $50k now and growing. Now, how do I do it? Well, most people I see need the newest phone, car, and need a house right away with only $10k down payment. Most people don't know how to budget and to self control the urges. Jealousy is a also big issue I noticed. The urge to buy new things to be part of a social norm takes a toll on people. Last but not least, even on low income you are able to save money and no, I don't live paycheck to paycheck

[@RonskiC]

The amount of ads, sponsored and KZbin, in this video is staggering.

[@ironwarbear1762]

Easy Millennial lifehack: don't invest in retirement, die at 70. That gives you all your 401k up front for better coffee. I wouldn't call it "living" without avocado toast. That gives you 30 years to figure out how to survive without a paycheck. You can do it!

[@redunicorn7760]

I've been following you for two years now and you've helped me a truly crazy amount. You've also shown me how different money is in the USA and Germany. We have a lot less debt bc higher education is free, universal healthcare and no credit card system. We also have a solid social welfare system. Unfortunately we too have ppl living paycheck to paycheck 😂

[@wanderingman8921]

How much of your income disappears in taxes?

[@Kurst535]

None of this applies in NYC. Only if you're single with no kids does 100k+ do anything for you. I know lots of families making 250K-350K/yr check to check in this city. Bottom line is 100K is not what it used to be.

[@krynosisdreamer1421]

We knew when we left high school and no one was able to look at anything realistically.

[@holisticlifestyletherapist6918]

Tax his land, Tax his bed, Tax the table, At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his work, Tax his pay, He works for peanuts anyway! Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he Tries to think. Tax his cigars, Tax his beers, If he cries Tax his tears. Tax his car, Tax his gas, Find other ways To tax his ass. Tax all he has Then let him know That you won't be done Till he has no dough. When he screams and hollers; Then tax him some more, Tax him till He's good and sore. Then tax his coffin, Tax his grave, Tax the sod in Which he's laid... Put these words Upon his tomb, 'Taxes drove me to my doom...' When he's gone, Do not relax, Its time to apply The inheritance tax. Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Excise Taxes Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Gross Receipts Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Personal Property Tax Property Tax Real Estate Tax Service Charge Tax Social Security Tax Road Usage Tax Recreational Vehicle Tax Sales Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Taxes Telephone Minimum Usage Surcharge Tax Telephone Recurring and Nonrecurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What in the heck happened? Meanwhile you spell '545 politicians' getting RICH? I hope this goes around THE USA at least 545 times!!!

[@lw3269]

Insane that schools teach everything but how to pay bills, manage finances, stock investment, home buying, and budgeting. Please don't tell me that they can learn this at home. Not all parents can teach this, because they never learned it themselves. Wouldn't hurt to teach politics, civics, government, and voting, too. Our kids know STEM, but have no idea how to be functioning adults.

[@IvaanCroatia]

Imagine making 100k a year and not knowing how to use it to retire early.. 350k is more than enough to retire in my country and most people here don't make 350k their whole working lifespan.. Lack of financial education and self-respect, if they can't do it with such huge incomes then you don't deserve it anyway.

[@MattSezer]

You aren’t living paycheck to paycheck if you’re maxing out your 401k. If your definition includes people who are doing that, then it’s a bad definition.

[@gunnerhaas]

i dont understand how people are spending so much on coffee. Every time i go to starbucks they have free coffees just sitting out on the counter.

[@JohnSmith-xf5im]

Currently 6k in debt, let’s get this bread

[@kayseacamp]

Honestly one of my best financial decisions I made was to automatically invest 10% (with a 1% auto increase annually) into my 401K at 19. I then budgeted around what my take home was then. Sure I was completely utterly broke at times but now 10 years later still working with the same company I see my 401K balance and the feeling I get from that far outweighs the feelings I had in my rough patches.

[@S.T33L]

Mind sharing your success? Im a 19 year old currently haha, and I wish to have financial freedom some day.

[@icephoenix3565]

How much is in your 401k now 10 years later?

[@rosendoaraque2202]

Just started Roth IRA and I’m 23 Currently $5k on stocks I feel like I’m late but have to remember, I’m still young , that anxiety comes over me sometimes Currently also paid off $8k debt, after one year of giving $700 payments a month… i hope all this hard work pays off 😔 those 700$ could be going to stocks or Roth IRA Dont get in debt boys!

[@seishin2900]

Tbh I still dont think its a "generation" issue but more so a cultural issue.

[@lawrencecarter4908]

I mean yeah duh lmao it’s an American issue. People in China or South Africa don’t have the same problems

[@Metalpazallteway]

So if 350,000$ is considered middle class, why am I considered middle class when i barely earn 35k a yr in Florida.. These numbers are a bit bloated.

[@itisshinobi]

not at all. if you lived in new york or la i don't think you could have a middle class lifestyle on a barely 35k/year salary

[@kristine7304]

Middle class is broad. Lower middle class is just above poverty, upper middle class goes up pretty high.

[@wojackhorseman2921]

Move to San Francisco on 35k a year and welcome to abject poverty

[@Metalpazallteway]

@@joshn2342323 That I have to agree with you. The whole tax bracket placement is like crazy.

[@Metalpazallteway]

@@kristine7304 I was gonna say yea that makes sense. 350k is like, really up there...

[@aimanisa9610]

whats up graham guys here

[@codymcguiremusic]

If you make $350k and you are only giving $300 to charity per month, you should be embarrassed...

[@cflame14]

When you say, don't spend money on things you like, to save money, I hear, don't actually live your life, just work and pay bills and maybe one day if you live that long, you can then have enough money to do things.

[@joshuaandrewsmma]

Unfortunately when youre renting a house in todays market. Its really hard to do the 80/20 rule when prices are literally skyrocketing. We can get roommates but who wants to do that when you have a family youre trying to raise.

[@dandalorian]

God I love my wife, she stops me from compulsive buying and budget everything so we living good with a 50/30/20😎

[@tonycj7860]

Did anyone else catch the beginning: "What's up Graham, it's guy". lol. It gets mixed up after so many takes I suppose. lol. Love your videos dude!

[@katlynalves6230]

He does it on purpose. It's a long running joke, and many of the fans ask him to say silly things during the opening

[@GMax17]

$400 a month, $4,800 a year on clothes!? Come on, really, really?!

[@Strokearm]

Guilty!

[@MrNimbus420]

@@Strokearm I will never understand why... clothes last me a dacade and I always feel I have too many.

[@FabiWann]

@@MrNimbus420 you have a low amount or lack of vanity which is perfect.

[@ImVeryBrad]

I only buy clothes that are 50% off

[@Some1SaveMyGoat]

Yeah I have no idea how that's possible

[@_jasminedy]

So true. You have to live below your means. I just turned 30 and I always think to save 😂 it’s a rare mindset now a days

[@nickjassoiii]

Thank u for the advice.

[@Behindthistrack174]

You’re the reason why I won’t spend money anymore

[@JohnnyB.]

Living in California, many of my friends spend money like this…only thing they buy that wasn’t on this list is…they almost all spend at least $100/week on the mary jane lol

[@kristinarodriguez5652]

guilty

[@victorrodriguez1569]

Guilty as well🙃

[@FuturoSer]

maybe is a psicological problem, maybe they are full of stress and anxiety, i´ve been there

[@YumboYack2521]

Who’s Mary Jane and why is everyone hanging out with her? My kids keep asking me for money to hang out with their friend Mary, she’s very popular at their school.

[@gilabsolute1353]

Crys in poor. $400 a month to play with 😮😪😆

[@TheAwesomeYouTuber1]

Well the reason why they don’t have hardly any money left over is because everything’s really expensive these days. Including medical bills and everything else.

[@jr.3212]

Exactly! Even for basic things the car insurance is insane in my state. If your household has two cars it’s common to pay $300-400 per month even if you don’t have tickets & live in a decent area🥴

[@ZeusKingsfran]

Did y'all noticed in the intro he said "whats up Graham, its guys here"

[@theforeignerinamerica1817]

Graham, Generation Z will be even worse. With upcoming inflation, salaries are stagnant, education on the rise $$, and so much social media influence to make them spend money… they are doomed. I am a millenial but I save a lot of money and invest in Real Estate. A broke mind today will be a SUPER broke mind tomorrow. My two cents, and great video!

[@Maussiegamer]

well shir

[@Zachery_]

Exactly, people sure count on social security it seems, most of my coworkers barely put into 401ks but most of them also have car payments

[@GrahamStephan]

OR - they can learn and do even better!

[@HmmmOkay296]

Rip Gen Z’ers, condos will be $1,000,000 by the time they’re “house buying age”

[@fkm512]

It’s a great point re social media etc young people just gonna continue to waste money to keep up the appearance of being successful

[@kriswillman2779]

How are schools still not teaching financial education. That would have helped me a heck of a lot more than learning calculus.

[@grahamfan]

I agree 100%. I wasted so much precious time learning Algebra and I do not even use it one bit at all.

[@kuuryotwo5153]

They probably assumed if they taught you calculus you'd be smart enough to *apply* some of that math to your finances. Jokes on them, I didn't start figuring out that I should be doing that until I found Graham's channel. Thankfully that was in my early 30s.

[@darianbell9614]

I'm barely a millennial being born in 95, but I really don't understand how most people my age are living paycheck to paycheck. I make $75,000 a year and have been saving 50% of my paychecks and I still feel like I splurge a lot. Even when I was making $30,000 a year I wasn't living paycheck to paycheck, and that's with supporting my wife and her part-time jobs that pays basically no money while she is trying to build a career in the biology world.

[@Bob-yh7ir]

People need to learn some new lessons on personal finance and discipline. Income isn't the problem and just making more isn't the answer. Live with less crap in your life. Learn to cook at home and have great meals for cheap. Invite people over once a week if you want and have an outing. Still cheaper than going out to eat. Stop buying name brand anything, stop living YOLO.

[@genericdeveloper3966]

"A rapid transit janitor who makes $235,000 per year" What a load of sh*t!! If janitors were all making $235K what a different world this would be.

[@JoeSmith-lp8fl]

Yeah, that is what I refer to as a unicorn job. It's a bs tactic not much different than saying you could make so much money if you won the lottery for millions. Both circumstances are so low chance they're not even worth contemplating.

[@agentsmith3577]

It's true - when you make $162K in overtime, lol There have been a ton of articles on this unicorn worker

[@kevinashburn4687]

You are my favorite youtuber!!! Thanks for setting up my financial freedom, I owe you a lot!!

[@GrahamStephan]

aw thanks!

[@MichelleMarki]

great job Kevin!!

[@FightDirtyRS]

Graham, it's becoming clear that you have been working out.

[@bradk8590]

Love how the $350k breakdown had the line "Toyota Highlander instead of a Range Rover" like oh no this poor family with a $1.8m home and three vacations per year had to (gasp) get an affordable vehicle

[@babampho7827]

What's up Graham, it's guys here

[@devakmistry2859]

What's up GRAHAM its GUYS here!

[@KingPriyom]

350k sounds rather high to me for middle class...

[@xianxiong3440]

I only need 30k to live, people spend way too much than I thought.

[@KingPriyom]

@@xianxiong3440 u will become very wealthy :)

[@tysone1254]

yeah in my area 100k would be middle class

[@KingPriyom]

@@tysone1254 what area is that?

[@tysone1254]

@@KingPriyom A relatively small town in Minnesota

[@holymason7]

People really think college is a must, when in reality it's a privilege.

[@geraldwilson727]

Absolutely agree trade schools are much more affordable and usually have more higher paying jobs out of them and of course industries like truck driving offer you paid training and you can make a very good living doing that as well

[@Dylang01]

For a lot of industries it is a must. If you don't have a degree your application is ignored.

[@shanedwood]

If this country wants to compete in the world economy then getting an essential degree is a must and not a privilege

[@holymason7]

@@Dylang01 of course if you want to be a doctor then school is a must

[@GTRrocker84]

College is overrated. After my two year degree I dropped out and I’m doing fine. It was a compete waste of money and I bought a house instead of continuing at a 4 year school.

[@sahilbarnwal7044]

What's up Graham, it's guys here!! *dies laughing*

[@addisontaylor5979]

I wondered if anyone would notice this

[@jessmane]

I'm over here willing to kill someone for 60k a year jobs and these guys can't even saving a grand a month making 100k a year.. wtf

[@McShibby10]

I remember in 2007 brand new F150 was $15k for basic package now you cant even find a used truck for under 20k. Things aren 10 times more expensive now