Signs You're Doing Well Financially (Even If It Doesn't Feel Like It)

[@VincentChan]

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[@mathgasm8484]

I save like a grand a month easy. I have been building my bee farm so I can use my LLC to buy more land and make more of that sweet honey to sell.

[@dragoon1269mn]

Your link is not working on the page

[@8630733]

My mother used to say "Just because you are 60% on top of a poop pile doesn't mean you are not on poop." It's funnier when she says it. But makes sense.

[@mspro9032]

I felt that

[@samph3315]

In terms of the internet and social media we commenters are all randos!

[@CarlYota]

60% of people don’t have $1000 in savings? Geez. I would be terrified if I was that broke. Although I guess it’s was in that situation in my twenties. Makes me feel grateful to be where I am even though I can’t afford a house in this market.

[@pizzathief8002]

almost 70% has that amount of yearly salary(if not less) and live paycheck to paychekc

[@MrSolLeks]

I burnt through my emergency fund and got some cc debt for dental work this year, 11 cavities and getting my 4 wisdom teeth removed at 33 lol. It has been rough, have been able to pay off enough to not occure any interest but im finally about to go positive again this month and build it up again.

[@954giggles]

Its true. Though unfortunate

[@BMXCCI]

@@MrSolLeks Aaaah man! That sounds rough, though very good that your about to go positive!! Congrats man! I myself had to fork out a load of cash for private dental work and I'm in my 20's! It was very stressful at the time for me but things are starting to look up! TO a happy and bright future!!

[@YashaswinPathangi-hi4kl]

@@MrSolLeksAt least you have an emergency fund.Just imagine if that debt was paid off with a credit card or worse a loan.

[@jcabslovesu2]

I do all my finances manually. I keep a budget. I have about 5 credit cards and haven't paid interest in them because I pay them off before the due. It feels good.

[@SuSpicious9748]

We have 2 CC that we use for our daily stuff like gas, groceries, household, etc. Haven't paid interest on one of them since we got it and stopped paying the interest on the other one in February. It's liberating that we actually have some leftovers to put into savings or into our extra loan payments. Just being aware of our spending/income has resulted in an immense momentum to debt relief.

[@mickeymaus1]

5cc? I have one for the daily use and a second as fall back if on overseas vacations. And it’s enough 😅

[@jcabslovesu2]

@@mickeymaus1 well I only use 2 daily. The others I’ve had since college and no annual fee nor good rewards so I keep it open bc there’s no need to close it. Also the longer you have the account the better for credit score.

[@jcabslovesu2]

@@mickeymaus1 we only use 2 cc daily. The others don’t have good rewards and I got them back when I was in college And no annual fee. Bc it has no annual fee I don’t see a reason to close them. Having them open for this long helps my credit score too. So yes we only use 2 daily (I should’ve mentioned that)

[@daz1396]

@@mickeymaus1same. Having that many CCs already makes me feel burdened 😅

[@aelaan12]

Glad we are doing the right things. We are married 26 years and after two years we started looking in buying our first home. That is when the fun started. All these little bits add up and today I drive a 10 year old car, that is very well maintained. We are never afraid to move money to a better investment opportunity. Always learn, each and every day.

[@VincentChan]

that's amazing!! out of these 14 signs, is there any 1 that you're having trouble with?

[@nancy8269]

This was very validating! Sometimes I’m a little hard on myself but when you drop statistics, it helps me see that I’m doing alright. Thanks for the video!

[@Tyler-xc9pr]

Love the Excel advice! Accounting should be MANDATORY in school and started at a young age. Work towards increasing assets and income, while reducing liabilities and expenses.

[@Deadlydad0331]

Government doesn't like educated slaves

[@BMXCCI]

Hearing this actually gave me more confidence. I my self struggle with saving hence why I've come to your videos. Honestly, you've opened my eyes to a lot of things. All I can say is thank you Vincent, your videos have changed my mind set for the better and that's something that's worth more than any amount of money to me! Thanks again!!

[@ADobbin1]

Really the only one you need is ask yourself if you have a couple grand in your bank account and aren't panicking about covering your bills at the end of the month. If you are at this point you are doing better than nearly 90% of the population.

[@jagicyooo2007]

people only show their glory, not their failures.

[@VincentChan]

exactly! which sign are you working on?

[@RobotChad]

"Keep in mind these averages are heavily skewed by the super rich". Damn I sure wish there was another metric that could account for the skew... definitely not 1 inch to the left of those numbers...

[@patricktolosa6457]

There is, the median income is the income where 50 percent earn more, and 50 percent earn less. Median is much lower than average

[@RobotChad]

@@patricktolosa6457 It's called sarcasm...

[@patricktolosa6457]

@@RobotChad Well I was just just trying to help fellow readers who might not know this exists.

[@bloo-igloo4403]

26 bought my first houae at 24 with zero help. Making a pest control technicians salary by my self. Almost 3 years back up to nearly 15000 in saving again ....its hard but to be comfortable and prepared its worth it!

[@evan]

Just chiming in to say this is a great video title and snappy editing to boot. Unsolicited advice though would be to sort your audio post-processing or position your mic better as it was a bit difficult to understand in the beginning :)

[@DioDiablo702]

I just used my emergency fund to help get the apartment my friends and I have today. It's not my first time rebuilding my emergency fund, but I'm really hoping it's my last time.

[@vulpinemachine]

It's really worrying to me that almost all 14 signs do apply to our financial situation. Because, despite all of that...we're doing TERRIBLE. If we're doing terrible, I can't even begin to imagine how bad it is for a lot of other people out there.

[@Lordblow1]

I think the 12th is a particularly good one. my main hobby is gaming and I can be quick to frustrate under the wrong conditions. This means that many free to play games that let you spend money for in game power which are often designed to frustrate you into spending money are particularly harmful to me financially. I lost €400 + on Hearthstone I will never get back for example. Probably the only hobby spending I truly regret. From this I learned that I should under no circumstance install those games on my PC or phone and I even had to let go of some relationships (no long time friends luckily) cause otherwise I could have gotten into a loop of spending money I will regret spending. This may seem like a minor thing but given how some people spend thousands on some of these games within depressingly short time spans not dropping these games completely could have really hurt my long term finances.

[@Yami0to0hikari]

For me i set a budget for any gacha games i play. My monthly budget is 200 USD which is less then 5% of my take home and if I ever burst the budget for one month, the difference rolls into the next month where I am forced to spend less. This allows me to have a bit of fun each month without headache of overspending. It also helps that I have a CC with a extremely low limit from my uni days which I have never increased the limit. This really helps to moderate spending.

[@nunyabidness117]

The millionaire you know isn't the guy driving a two-year-old car and taking 3 cruises a year. He's the guy driving a 20 year old pickup truck and wearing clothes he bought from Walmart that owns 5 rental houses he bought with cash.

[@justthebrttrk]

Cruises don’t have to be expensive

[@JohnnyJohnJon83]

Agreed If I was to sell everything I owned I would have close to two million in cash. But I currently work 7 days, paying off multiple mortgages and drive a 10 year old car.

[@greigclement9081]

Having a basic spreadsheet of your income and outgoing is great. I have enough basic spreadsheet skills tp forecast toi the end of the year to see how I look at the end of each week and month. It may not look fantastic at first, but you can see light at the end of the tunnel as you play with budget figures to see how spending in August will affect December's balances.

[@Lucky_McHugh_38C]

I learned a long time ago that buyin on credit was a fantastic way of gettin in over your head in debt. I avoid credit cards like Id avoid gold diggers and moochers.

[@thebosshouse]

Thank you for this! I'm way behind on investing, but moving in the right direction. I just wish there was more pay transparency on job announcements. I've struggled to find anything matching my experience that pays decently.

[@coreyw5981]

I keep getting indeed ads that'll say something like $18-$25 DOE then i show up to the interview, with experience in the Field, and they're really only paying $18. Theyre response to me asking about the range is generally pretty hilarious

[@Z1nt3k]

Comparison is the thief of joy.

[@danielponder690]

I love the Excel tip, it's great to put the amounts each month and look at the change, savings, investments, debt. I run a monthly variance check and notice bad months when Open Ended loans (Credit cards) only go down 5-20 bucks for example, versus a couple hundred. Fixed Term loans always go down, but it's nice to track the principal vs interest amounts and see the change.

[@squishy9178]

This is just reaffirming that I'm not doing well. Lol

[@VincentChan]

oh no :( which signs are you having trouble with?

[@PeeGeeThirteen]

Food and eating out is my biggest expense and is the hardest expense to get under control. I need to learn how to cook lol

[@TheEmolano]

It's nice to see how much I improved in 4 months. I wasn't wasting money and I knew I should never take on debt, but I really overestimated how much I earned lol.

[@TheDriftingStig]

I've saved a lot of money by talking myself out of non-essential purchases. I wanted a smart watch but I realized how overrated they are and how little I'd use it in my daily life.

[@historyofapple]

One thing I do is use a credit card like a debit card to get the cash back perks. Most I let it go out without paying it off is a week. Never do it month by month

[@michelrussell2014]

Never compare yourself to others. Keeping up with the Jones is dangerous

[@LydiaKrow]

I really like these positive videos. This list is a good way to pat yourself on the back or set some reachable goals. So much of the finance content is designed to be scary and make you feel inadequate. A couple of things I find useful: my bank tracks my credit score on my app, though I didn't know this until a banker showed me during a meeting, so that might be something to check if you are looking to do this. I also enjoy manually transferring money into my Roth IRA every month and seeing the "net worth" result at the end. I've struggled to save for a lot of my life, so this gives me a little bit of joy because I've worked very hard to get to a point where I can save. I also set a goal for a personal item to save for each year that is above and beyond my normal savings goals... sometimes I don't buy it by the end of that year, so I pocket the extra money or do something else for myself that is usually much cheaper and so I still pocket cash. :D

[@MrZojim]

Grear job with the teases for the next video at the end!! You have me going down the rabbit hole!

[@harknowhere]

Idk what my parents are gonna do. My dad just got fired after 37 years working for the same company

[@marcusgray2799]

Ouch!! Write him a resume and bid for him a management job

[@user-cg6fd4in1d]

Hi I'm sorry to hear that.

[@tangyjoe4326]

My lost his long time job in his 50’s and was panicking. He decided he went to work 8 hrs a days so he would devote 8 hrs a day to finding a job, not just sending out resumes but calling people he knew in his industry to put the word out he was looking, polishing his resume, researching tips on finding a job etc…. He ended up finding a job that paid a lot less than he made before (but enough to pay the bills) but ended up being happier at his new job than the ones he had in the last 30 years. Don’t let your dad get discouraged. Once a person loses hope it’s hard to ever get back on track. Maybe even finding something part time until he gets a better offer. Even volunteering his time somewhere to keep in a routine of going to something important every day can help keep him in the game mentally. I wish him all the best.

[@tonic316]

"you can pay bills in lump sum amounts to save money. Like insurance 6 month preimums instead of month to month" id add this one. Being able to do this is very nice.

[@jeehokim94]

If that’s cheaper in overall. I’d keep my lump money in high yield savings to earn interest, and pay things slow mtm.

[@celticsuave]

4:10 this is INCREDIBLE advice, and something I plan to incorporate in my daily routine from now on. Thanks so much, and great video btw!

[@mickeymaus1]

Advanced tip: put it on a price indexing wish list, then u can see how the price curve was in the past and maybe get it - if u still want it - later for a better price then now because u get an impression about the real market price :) I guess u will it already recognised how much Amazon for example goes up and down on price tags - prevent it by independent price indexing web pages. And at least no one wants to pay more money on something then necessary especially if the item is just more or less an impulse buy.

[@robertpek56]

Great video. Very informative. I like your editing style!

[@ehhieeeee]

But does doing better than average means we are really doing “better”? Or are we ALL struggling together?

[@mspro9032]

Or struggling "better" 😆

[@solracer66]

The problem I’m running into is that two diametrically opposite things are happening at the same time, my assets are inflating while my monthly cash flow is getting tighter and tighter. The value of of my house and retirement savings are pushing my net worth way up but at the same time my salary isn’t coming close to keeping up with inflation, especially food which feels like it’s doubled in the last 5 years. Since I can’t sell part of my house or tap my retirement early this has put me into a squeeze. If I was 30 I’d be hitting the streets looking for a different job but at twice that age it’s far, far more difficult. All this is made worse because while I believe in frugality my wife is the “spend it if you got it” mentality and doesn’t understand why she has to cut back on her spending if our assets are so valuable. Thus I’m leaning towards a second job (or working overtime if I can get my job to go for it) and working 7 days a week because I don’t know where else to go. This dichotomy where assets are going up while salaries are not is probably why Americans don’t feel that the economy is good even if on paper it appears to be. I don’t think that’s going to change as long as workers get shortchanged by their employers in the name of profits.

[@MagicMiikka]

Super rich do not skew the median earnings as it's the middlemost salary value. Super rich skew the mean earnings..

[@TritonTv69420]

Good video man. Your graphics are badass! I am doing most of these things. Although I always manually pay my bills. Never miss any payments because I always login to all my banks regularly. Haven't paid a single cent in interest on most of my cards. Credit score around 810. Multiple investments and enough saved for big emergencies. I am comfortable talking about money even with people that make way more than me haha. Working on the diversification of income which reminds me I need to post more videos haha. Above the median income even as a blue collar worker. I also know where my money is what I make and what I owe. Other than my condo I have 0 debt. These are really good things for people to focus on if they want to get ahead in life. I don't want to work forever and knowing these things and putting them in to practice really makes a huge difference!

[@yolandaperry861]

Thank you for your very helpful information! I love how you speak about money. The fact that you're funny really helps people like me who are financially limited ignorant. Thank you again and I hope to grow in my financial future with your help.

[@MadisonFalcoFoods]

I love your channel! Been watching Graham and others for years but love your perspective too

[@VincentChan]

thank you madison :) what videos do you want to see more of?

[@Nick_S1]

I very good shape right now saving nearly 40% of mine and my wife's income plus investing in my 3 year old's 529 account and custodial brokerage monthly. Knowing things can change on a dime, I'm always looking for ways to cut expenses and improve my savings. I have a lot of equity in my current home and while we really want to move to a larger home it makes no sense with the current interest rates and the price is ever increasing on the home we want... At least my kid will have a big head start since I started investing for him a few weeks after he was born.

[@andrewcooper6916]

22 years old and around 24 k in investments right now

[@rubzonline]

I am not an American, but most of the things you are discussing here are relevant to me here in the Philippines. By the way, why do I keep hearing this Mr. Magic Lamp on most of your videos? 😂

[@RJ9mech]

Bonus points if credit score is undeterminable. 💪🏼 (4,5,6)

[@BubbaSnipe03]

I'm 20 making 14hr and I'm 12k in debt but working hard paying it off

[@emilyau8023]

In 2028 multiple states are going to make personal finance required to graduate high school. Maybe it'll help with financial illiteracy.

[@googleuser4207]

Yeah yeah doing well but job loss or health issue will destroy our lives.

[@monkeespit]

One thing that is never mentioned is the horrific amount of capital gains tax that is taken when you want to enjoy the money pulled out of the market

[@newagecuck]

My business after expenses takes 3k a week, and I pay myself 1k a week…. (Free android phone on Verizon, only have KZbin as a subscription, payed for car, and 1650 a month for rent 😩)

[@Saroku1000]

6:50 my networth decreases because my investments dont do well lol

[@antilogism]

That 72 hour waiting period at 4:10 works at least as well for buying shares of companies as it does anything else.

[@lizhernandez3857]

Great Video 🙂

[@VincentChan]

thank you!!! which was your favorite part

[@ang5035]

I read an article about people making $200k or more who were living paycheck to paycheck and turns out they and their spouse have been maxing their 401k. Lol dude you are saying like $50k a year. Chill out.

[@cashflow68]

As a viewer over 65 your videos are very educational. I hope viewers heed your advises. In terms of new worth, I dont usually include my primary house in California, unless I wanted to sell it.Otherwise its a liability because of the property taxes, insurance and maintenance . I use my investments and cash flow it generates as net worth.

[@meleeham]

The 61% is false. Median cash savings for Americans is way higher. Either the surveyors asked in a misleading way or the answer is not in context.

[@samph3315]

Friend if you’re buying things like the magic lamp impulsively you could end up on Hoarders. 😂

[@Stevintage]

ad was perfectly timed. "About a decade ago, I got into a car crash that" - " recently I asked mint mobile..."😅

[@learningandstuff]

This video was so well done and great information. Subscribed!

[@mamon99519]

I treat debt like a curable but still deadly disease.

[@henkwillcock2675]

All these things are true for me but I'm still not doing well. Better than most I suppose, but still have very little financial security, if I lost my job I'd be in big trouble. I guess that says a lot about the economy at the moment and how bad wealth inequality is

[@Scarywesley4]

I'm fortunate that Walmart gives all of its employees Even accounts (now called One) that will "steal" a slice of your paycheck and put it into a high yield savings account. It took me a year and change, but now I have a $3,200 savings account without realizing it. Best method is to have the money taken out before it hits your checkings so you don't get the urge to spend it lol.

[@Dreamer10888]

Is it skewed by people with a mortgage,/ debt. Does it Mean we have no savings

[@maysefagundes3011]

thank you.

[@charleswooley2090]

Any strategy for asking for raise. What if my employer doesn’t allow me to moonlight in my trade?

[@danw4680]

If ppl are watching this video they are probably not comparing themselves to the avg American, they are probably in the top 10% comparing themselves to the top 1%

[@johndoe7901]

I make close to $30,000 a year(before tax) lol everyone I know is does not make more than $50,000 a year pre-tax. But I live in rural SC and work in a small outskirt of a city in NC

[@edgaralcazar7412]

That lamp a paid actor lol

[@foodlover8151]

Again, great information!

[@tehcowgoesquack]

I’m 21 and have a few thousand saved up with zero debt and I’m finally moving out of my parents’ house. I make $17/hr and although I don’t make a lot of money (especially because I’m near a metro area), not having any debt puts me at peace. Also, haven’t gone to college yet so I don’t have student loans and it’s making me think that maybe college really isn’t the best idea for me financially.

[@jerl7320]

Dont do it, stay there as long as possible!

[@317MaseX]

Hey Vince, I’m a beginner level content creator on KZbin , could you tell me what program you invested in for video editing course

[@lidattruong1105]

Being above average doesn't mean you're doing well considering how behind average is in the US.

[@donaldlyons17]

LOL!!! But he got to say something strange like people don't know how "well" or "not well" they are doing!!!!! People should just worry about their goals and not compare themselves to others unless those others goals will impact theirs.

[@russellandrewbennett7849]

“Thank you by the way” just got you a sub. Great vid!

[@MattCabrera]

Mind dropping the video editing course you took to invest in yourself? 😅

[@studiohubstudiosofficialst6757]

Love the data!

[@landlockedentertainment]

just found your channel really great content thanks man

[@fantscher]

I don't think the savings are that much off by average. You confuse net worth with savings, I'm pretty sure elon is pretty much right there with the average. Rich people hide their savings in assets and bonds or anything that saves them from paying taxes.

[@martinng370]

why... is there another video with grammatically the exact title and a thumbnail just like yours that was released 6 months before yours touching the same topics as this video?

[@alexnash2562]

Awesome video! Shoutout Vandy Econ

[@jokepp]

0:58 I understand why a car repair might cost 1000$ ... but a stubbed toe? How does this generate any costs? Worst case, you have to get a cast if you break something. Does he mean you cannot go to work for some time and lose money that way?

[@nathanturner3616]

It’s true, those chips are highly addictive

[@Dabloon]

Lol I get the same drink at Starbucks and I’m wired for the next few hours

[@buddystafford7507]

ok.... so i live in washington state (highest cost of living) and i feel like even with a lot of experience i cant make more than 45k a year(without working 60 plus hours a week, also ot is a scam here)... so the average being 60k plus is figuring in a lot of very rich people... damn i feel bad for the younger generation because it already feels like there is just 0 opportunity left in america.

[@gentronseven]

I have enough money in savings to likely just never go to work again and survive. There's nothing for sale that I want to buy and I've hated every job but one I've ever had. I just save everything except food and mortgage. I'm far from rich but the costs you can control are number one.

[@brimmed]

The median was $60k for men? I'm a lot poorer than I thought.

[@mickeymaus1]

Don’t forget a lot of the people are living in or around capitals where the income and the costs are much higher then if u are living somewhere else.

[@dwalker6868]

Thank you

[@clublulu399]

You know it’s a problem when close to half of America can’t afford to pay utility bills on time.

[@pioneer7777777]

I feel like all those savings account numbers aren't really accurate or useful since they seem to exclude taxable investments. Like I personally have about $25k in savings, but $85k in liquid taxable investments. Also, how do they know my total savings amount if they are in different accounts with different institutions? I know those are surveys, I just wonder about the methodologies.

[@5canwalk]

Sobering thoughts!🎉❤

[@sarahmekim]

Do really some people have to go into debt to pay rent/utilities? And have less than $1000 savings? I just cant believe that some people actually live like that?

[@maxime_vhw]

I'm far from rich, and my parents even less. But those savings by age are pretty low imho. And avg income in USA is even higher so I'd expect saving to be even easier. People just live way beyond their means.

[@redgun421]

great vid and tips!

[@VincentChan]

thank you :) are you 14/14 with these signs?

[@CIPHERFLEX]

7:41 ACKSHUALLY THATS A GOOGLE WORKSPACES SHEET HEHEH ITS NOT AN EXCEL SPREADSHEET SNIFF HEHEHEH. *Munches on crumbs between the keys on the keyboard*

[@howlinwaters]

re the comment, "we are bombarded by 20 something millionaires": the truth is, we are bombarded by those WHO CLAIM to be millionaires. no one knows their real financial situation, and most of them are most likely lying about it. just sayin' ...

[@hlfcoder7466]

Well ya the average is inflated by guys like Elon Musk, but that's why the median number is right beside it. That's not inflated.

[@EnronnSierra]

I can't tell whats an ad from advice in this video.

[@cathyp94]

Very creative content

[@deepshaswat]

All good except the 14th sign. Still working on that and stuck with just one Income source. Thanks @VincentChan

[@VincentChan]

you got this! are you doing anything to work towards the 14th sign?

[@rayzerot]

You're doing well if you talk with your friends and family about money... no, no, no. I DON'T talk with my friends and family about money BECAUSE I'm doing well lol. I don't need them getting upset or jealous

[@zhorky]

5:30 .... i thought this was a skillshare sponsorship

[@AlexanderGeorge]

I’m 30, got an apartment fully paid that I gave out as rental, got savings, bitcoin and other crypto and a low budget car. No debts. Just chilling I guess.

[@BWV478]

What recession?