Do you use any budgeting methods or do you just fly by the seat of your pants?
@poshmo-llennial87099 ай бұрын
I’m glad someone is addressing this! 50 30 20 rule is so outdated !!!
@Macroadventures8 ай бұрын
The 50/30/20 is more a guide for me on doing my monthly budget. Might not work for everyone but can easily be adjusted for any budget.
@nque76553 жыл бұрын
I just got back to work(Got injured, lost 5 months of work), first day back is gonna be this Monday. These videos have been helping me setup a plan for when I move out, and I wanted to say thanks for that
@AdultingShouldntSuck3 жыл бұрын
That’s awesome! Glad we’re able to help you out. Let us know if you have any questions!
@J.J.-Topic10 ай бұрын
I make $600 a month.. I got this 50 30 20 down to a T. No problems. People are spoiled.
@jearamiexo76618 ай бұрын
you must live in a cave
@J.J.-Topic8 ай бұрын
@@jearamiexo7661 you must live with your mom
@nicolaanton9395Ай бұрын
I like that you gave a different budgeting option. People can switch it up depending on what they make and what part of the country they live in. In expensive cities, young people can use the 70-10-10-10 method. The point is to live within your means and still have some fun. Being Gen X, I may switch to this to pay my mortgage faster.
@J.J.-Topic10 ай бұрын
The 50 30 20 rule was designed to get you out of the pay check to pay check. It’s not about how much your income is, it’s about how many income sources do you have. Cash flow is a game %90 of people just don’t understand. I disagree with this video.
@kingdele016 ай бұрын
I totally agree with you! I think too many people spend more than they should.
@NewzBanger2 жыл бұрын
Senator Pocahontas came up with that???? Man I’m ditching this now 😂
@MsRavenousWolf3 жыл бұрын
Thank you for replying to my comment and suggesting a better budget plan. So now I'm here and I'm a subscriber of your channel.
@AdultingShouldntSuck3 жыл бұрын
Happy to help and thanks for the subscribe! What did you find most useful about this video?
@MsRavenousWolf3 жыл бұрын
@@AdultingShouldntSuck Just the realistic plan towards the low to middle class. Wish I would've known this rule when I was a teenager.
@AdultingShouldntSuck3 жыл бұрын
@@MsRavenousWolf yeah, I totally understand. Wish I would have known even half of what I know now as a teenager. Lol
@levimcfadden7276 Жыл бұрын
I saw the the title of your video and thought maybe I should get a group together to work with you guys. I know some people would invest in a course made by you guys because the information you present is helpful. I also thought of forwarding it to other content creators because they obviously missed it 2 years ago. Unfortunately, you came in with the Boomer ( Born: 1946-1964) talk and that would not have worked. Many older Americans only survive because of a check from the Social Security Administration. Even then some are under the poverty line. Financial advice can help everyone. All Boomers are not rolling in dough. Maybe remove some videos after thoroughly reviewing them. Then you can remake them now with the most current information. Engage all people in need of your help. I hope this comment is helpful. BTW, I am not a Boomer. I am a child of the 70's. I wish you luck.
@AdultingShouldntSuck Жыл бұрын
Looks like someone changed the original title of this video and added "boomers" without consulting the team. 🤪 The boomers we refer to in the video are specifically the people who created and are preaching this rule to the younger generation. We know that a majority of "boomers" actually struggle to get by the same way young folks do. The rule is unrealistic and sucks for everyone.
@audiolego9 ай бұрын
70 10 10 10 is my system that I got from Jim Rohn. I have read Clayton's book as well. I do pay myself second. Jim's 70 101010 system is , 10 percent to give away first to a church or a charity, 10 for passive saving investment, and 10 for active capital savings or pay the bills.
@AdultingShouldntSuck9 ай бұрын
Jim Rohn is one of my all time favorite people. I’ve listened to his audiobooks dozens of times! We took his 70/10/10/10 rule and modified it for the average person to be able to survive with how expensive things are in today’s world.
@PMMagro Жыл бұрын
It is sound advice. You want to earn twice your "must haves" and lower the cost to that level. More stuff, including saving up/reducising debt/investing, always turn up. ALWAYS. The housing market includind rents is messed up. To live soemwhere is not an investment it is supposed to be something we all can do without having to live in one room each or starve?
@megafraneldelavaina9113 Жыл бұрын
Now that I paid everything of this rule makes a lot of sense for me! I can go out without regrets. And any leftover money from “essentia” at the end of the month I just put it to savings.
@levimcfadden7276 Жыл бұрын
The video is sooo good. The robot comment is spot on. With robots and A.I. currently in the news you should redo this vid.
@Criobite3 жыл бұрын
Great video, I read that Richest Man in Babylon book when I was a teen, definitely helped to frame some things better along with growing up in poverty. Btw, at 10:00 you mentioned cellphone bills at $50-$100/mo, and lowering that sounds like a topic for a future video. So many people think they can afford the latest and greatest iPhones and whatnot by paying for it month-to-month while it eats a hole in their pocket. With an affordable $100-$200 unlocked phone, I'm paying $10/mo for a yearly prepaid Tracfone plan with limited but reasonable talk/text/data. Ting is also a great option for $10/mo unlimited talk/text and +$5/mo per GB of data. Many others like it. Bottom line is that a lot of people are probably spending a whole lot more than they probably need at this income level, without even realizing they have other options. Anyway-thanks for reading and keep up the good work!
@AdultingShouldntSuck3 жыл бұрын
Great input and we completely agree! When people are just getting started they still don’t totally understand how far a dollar will or not go! We appreciate the video topic idea!
@AdultingShouldntSuck3 жыл бұрын
Just wanted to reach out and say thanks for the idea about lowering cell phone bills as a future topic. We took that and ran with it for our latest video! Check it out! TOP 5 WAYS TO LOWER YOUR MONTHLY EXPENSES kzbin.info/www/bejne/nXyvhop6bpubfNU
@heartofthewild6803 жыл бұрын
I refuse to upgrade my phone until they bring back the headphone jack (why should I buy new headphones when my current ones work fine?), and also bring back 5” phones (if a phone doesn’t fit in a pocket, you might as well call it a mini-tablet).
@Metal-Kingdom Жыл бұрын
They been jobless, they never been unable to have full time job, is just annoying this rule.
@omgadhvi33893 жыл бұрын
Plz make a video from which we can earn money
@AdultingShouldntSuck3 жыл бұрын
Check out our playlist, “how to get a job”. We got a lot of great information to help you get a job and side hustles you can do! kzbin.info/aero/PLnMTtv2i-iSyeZJVyTkyjOcmnAjs1EG0u
@DanRobards Жыл бұрын
So your solution is to spend more?
@wiseman4160 Жыл бұрын
No, but he's just saying 70% on necessities at most. Not do spend 70% on necessities. Those that can go lower than this 70% is defently living below there means. low income it's hard to go below this 70%. Should be realistic to try not to go over this 70%.
@wiseman4160 Жыл бұрын
I try to keep it at 75% at most this for me includes fixed expenses and varible expenses and irregular Expenses. This 75% doesn't include bad debt, savings or investments.
@J.J.-Topic10 ай бұрын
%45 on just rent? Sounds like they are relying on ONE source of income… not everyone has the mind of a trillionare
@brewcrew42183 жыл бұрын
You guys were just saying to use this rule
@AdultingShouldntSuck3 жыл бұрын
We are saying that the typical 50-30-20 rule is trash for younger people to live off of when they’re just getting started in adult hood. We just recommended a different variant of the 50-30-20 rule that would help young people move out for the first time, but it’s just a temporary budget plan, not one to live off of forever.
@jimmiecarroll2 жыл бұрын
@@AdultingShouldntSuck So, basically the same idea, just adjusted for a young adult?
@AdultingShouldntSuck2 жыл бұрын
@@jimmiecarroll yes, 100% correct.
@watchzyon3 жыл бұрын
Nice
@kingdele016 ай бұрын
What are you guys talking about? - If you are a professional, you aren't making minimum wage. - Also, if you can't afford that 50-30-20, then you need to reappraise how you're spending your money or move back home, if things aren't toxic or dangerous.
@zachogan625510 ай бұрын
I don’t know where you are renting that’s going to be 60% of your wage. You guys are cooked. I’m a millennial and I use the 60-20-10-10 budget based on Aussie bloke who is like Dave Ramsey. I’m Aussie and we have higher mortgages and rent than you Americans. A good rule for us is keep it to 30%. I’m pretty sure Elizabeth Warren says to keep it to 25%. You don’t have to live 5 minutes from your work and have a ridiculous housing payment. Branch our further and keep costs down. Sorry boys I disliked your video.
@AdultingShouldntSuck9 ай бұрын
According to a recent John Hopkins University study (released last week) 1/5th of Americans (roughly 68,000,000) spend AT LEAST 50% of their income on rent & utilities.