Things POOR People Waste Money On

The $O$CAST hosted by Adam Sosnick is a personal finance show dedicated to helping you build your wealth and breaking down financial topics in a language everyone can relate to. In this short clip, Adam talks about the biggest threat to your money.


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About Host:
Adam “Sos” Sosnick has lived a true rags-to-riches story. He hasn’t always been an authority on money. In fact, he was quite the opposite... Before hitting it big in finance in his thirties, he worked every job under the sun. He was a radio advertising salesman for Clear Channel, a party promoter, a hotel manager, a substitute teacher, a sports agent, and he even did stand-up comedy. While this life had a lot of perks, the reality was that he was making NO money.

In 2006, eager to start making serious money, Sos got an entry-level job at a financial firm as a cold-caller. After a few years of putting his nose to the grindstone and learning the ropes of the finance trade, Sos got promoted to VP of Sales and began to rack in serious money. Despite the financial world around him crumbling in the 2008 Great Recession and people going from making millions to losing their jobs overnight, Sos’s net worth skyrocketed. Seeing what was happening around him led him to recognize the SAVE THAT MONEY mantra.

Sos started a new project to wake young people up when it comes to money. He incorporated his high profile friends and influential financial connections to show that spending money is not that cool, and it’s all about #SaveThatMoney. And then what do you do with that money? You save to invest. Invest in appreciating assets, yourself, and helping people around you.


#SOSCast #ValuetainmentShortClips

[MustafaAgaDev]

Video Bullet points:
Money-Waster:
☐ Renting is going up.
☐ Healthcare is going up(US).
☐ Food, powe, gas, inflation
☐ Life style creep:
Standart of living increase, former luxuries are now a necessity
Develops "The deserve mentality"
Define your splurge(Something that brings you joy)
☐ Pick one
Advice:
☐ If you get a raise act if you didn't get one for at least 6 month.
☐ Don't make big spendings
☐ If you got a big loan pay the most of it.

[ryanm]

I live in California. I make 6 figures, but my mortgage, daycare, & school loans are insane. It’s all good. I’m living life.

[thankful]

When you get that promotion and it says you’ll make $100k in a year - you still haven’t made $100k, it takes a year to do that….

[consumerdebtchitchat]

When I purchased a condo in 2020 I bought half of what I could afford. This meant a 100K unit versus 200k. I never changed my standard of living.

My 15-year mortgage will be paid off in 3 years then I can put 30% away into retirement each month. I have 10 payments left as of February 2022. My goal is to always look more poor than I really am.

[williep]

Great advice, love the way you broke that down.

[dynamlllilte]

I LOVE ADAM HES SUCH AN AMAZING PERSON MAKES ME LAUGH EVERYTIME. AND TEACHES US ABOUT HOW NOT TO SPEND THAT MONEY AND MAKE IT WORK FOR US! LOVE HIS OWN PODCAST THAT WAS AN AMAZING IDEA!

[thatisabsolutelykooooge]

Poor people waste money in order to ease the pain of being poor. It’s self destructive behavior that everyone participates in when theyre in pain.

[zachsparkman]

Wow I never would have guessed I’m in the 16% but I do live paycheck to paycheck. I guess I should watch the show more.

[tehuti]

I make $80, 000 a year and live pay check to pay check

[Mr_rdharris]

Adam is definitely an independent personality.

[chrisburns]

Most people that make 100k a year are living in major cities, and that means higher cost of living. I make 85k a year in Albuquerque, and I’m able to save 2800-3250 a month.

[superbwlthirty]

Just as inflation is hitting hard, you go and put a video like this together. Nice. Surely it is a hit with your audience. (Sarcasm)

[davefischer]

0:58 not a surprise at all actually lol

[joecity-rp]

Why are all the voices they do "stereotypical ghetto black guy"

[luisd]

Very good video! Will be watching more Adam vids

[JonathanSorunke]

40% makes it seem like that stat is skewed but it’s still crazy!

[adubbization]

he's gotten so much better at doing his podcast

[tonysanchez]

Does the 90% not making 100k include children elderly and stay at home parents.
I just want to know if it's reflecting working adults or everyone because that is a big difference

[calculatedrisk]

Sheesh... Consumerism at it’s finest...

[kat_of_all_trades]

Loving your personal finance content Adam and crew!