6 Middle Class Habits That Will Keep You Broke Forever

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⌚️Timestamps:
00:00 Start here
00:17 Middle Class Habit 1
02:20 Middle Class Habit 2
04:36 Middle Class Habit 3
06:19 Middle Class Habit 4
08:10 Middle Class Habit 5
11:01 Middle Class Habit 6
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

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[foodlover]

#1 is definitely a killer for almost everyone I know. A big pay increase with a new job, people already spend on new cars, fancy restaurant or designer fashion. No wonder why people complain that they live paycheck to paycheck.

[fliptheflipped]

i got sad when the example was 6k/month. my salary isnt even half of that :(

[cmccormick]

Solid advice for anyone making 6k+ a month. Most of us need different advice

[thatElene]

The most important thing is healthy eating for me. I'll always prioritise buying good organic foods. I might not buy clothes or makeup but nutrition is a must!

[can]

I am nearly out of debt. Snowball system baby.
Studentloan paid, medical bill paid, left is only 1 personal loan. Then freedom baby. Emergency fund set.
Now working on the last loan

[bocbocigi.-hsnd]

The fact that nobody talks about the book arab money secrets, speaks volumes why people dont earn a lot of money..

[juletaurus]

I stopped watching after you mentioned $6000 a month.

[kimmeeb]

My emergency fund literally saved my finances. I had to go to the hospital for 10 days due to a mental health crisis. Thank God my parents trained me from birth pretty much to put 10% of every paycheck into my savings account. If I didn’t have that, I would have close to $7k in medical debt. Instead, I just have around $2k in credit card debt thanks to expenses during that time, which I should have paid off in the next couple months

[Tlj]

I like how genuine and realistic your content is and way better than some fake guru telling people to invest in Bitcoin and selling snake oil. Keep it up, Vincent!

[MTuground]

I get around €1400 p/month. 700 for needs, 400 wants, 300 savings. 700 needs is not enough when we have to pay insurance, service our vehicles etc...

[neverasked]

Number 1 middle-class spending habit: paying rent

[sct]

#1 is the reason why people who makes $100k per year are still complaining they have no money. This was me in my 50s, the decade when I finally made decent money.😅
DON’T do this.

[adamcomerford]

Goodness sakes, people, cost of living is not universal. $6, 000 may be a lot of money where you live but in some places in the US it might only be just enough to pay your bills and save for retirement.

[PhilFlock]

Usually I'm just a silent listener.
But I gotta say. I do enjoy your content a lot. Thank you for your hard work and research. Once it's gonna make me a millionaire I'll buy you a pineapple pizza

[PykoOHD]

My emergency fund rule is to put aside 2 years of salary ... for me, it's because I have been unemployed before, and have had accidents that left me without the ability to work for a while, so being capable of having 2 years worth of salary put aside is for me the perfect goal, and I'm nearly half way to my goal ^^

[yuurei_ender]

I love how you put your own pics and videos to illustrate your content

[transitengineer]

As always Vincent Chan, thank you for sharing these very useful tips. For myself, the most important two were 4th) "Career Capital; and 5th) "Work Smarter". However, the best advise I now yearly provide to both new trade school grads as well as college grads is: "while working at your first job, please live with other people for a five (5)-year period after school" this way, you are able to save up to 50 percent of your take-home pay. Once all your money "pots" are full including emergency fund, investment accounts, and retirement accounts, you then will be miles ahead of all your peers when, you then step out into your own apartment or town-home. Also. during this 5-year period when living with others, please try not to buy a new automobile and strive to remain debit free (smile ... smile)

[NJVArtimations]

My Salary here in the Philippines is too low i have no money for even an emergency fund

[Tina-snqd]

I work in customer service and it‘s crazy how many cards decline at the end of the month

[TillTheThrill]

My father said it the best. Never compare your income or your salary to others. The guy who makes 100k could spend every penny of that. Whereas the person who makes 60k knows how to budget their cash. Live within your means folks