Suze Orman Reacts: Living On $80K A Year In L.A. | Millennial Money

Personal finance expert Suze Orman wants Wendy Gonzalez to think bigger when it comes to her money goals. The Los Angeles-based millennial earns $80,000 a year working as a logistics supervisor for an auto tech company and eventually wants to make $95,000.

“Why limit yourself to $95,000 a year?” Orman asks, reacting to CNBC Make It’s Millennial Money episode that features Gonzalez.

Orman also wishes the millennial hadn’t splurged on a BMW, which sets her back $720 a month. In addition to the car payment, Gonzalez spends about $90 on gas, putting her monthly transportation costs at $810. “What you deserve is a life of financial independence, not some car,” Orman says.

There is good news: “She’s saving money, she’s working ... and she’s making coffee at home,” says Orman, who thinks that buying coffee is like “peeing $1 million down the drain.” Gonzalez sets aside about $1,000 a month. She saves in a Roth IRA, high-yield savings account and a brokerage account. Gonzalez has around $25,000 saved in a high-yield savings account, which she has earmarked for a down payment one day.

Watch Orman’s full reaction to Gonzalez’s spending and savings habits.

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Suze Orman Reacts: Living On $80K A Year In LA | Millennial Money

[GrahamStephan]

Graham Stephan Reacts to Suze Orman Reacting to Living on $80K A Year in LA

[dynamichunter]

This girl’s student loan IS her car. She kinda negated that effort right there...

[trildi]

''It's not your salary that makes you rich, it's your spending habits.''

[King_Jab]

She’s basically working the extra job to pay for the car...

[drchtct]

She wakes up at 3:30am to be tired when driving the BMW lol

[Ryanstuff]

I currently drive a 10-year-old paid off car. Some friends ask why I haven't upgraded to something new and I simply tell them that I am enjoying no car payment more than I would enjoy a new car.

[moraleslauralucia]

I make over $100k in South Carolina and would like to do this show. $100k here in the South is ten times better than $100k in Cali. ✅

[dallasgurl]

i like how she throws subtle shade with a huge smile 🤣🤣

[nicolesmith]

I was a little skeptical at first, like “excuse me, this is Graham’s job” 😂🤣, but I actually really enjoyed her reaction.

[damondominique]

I just need to know how much Suze spends to get her teeth that white

[CardenFinancial]

I see a trend for graduates with no student loans, finance a car after graduation that would be the price of their student loan if they had them. Be financially free, don't let a car own you.

[the_bush_family]

Graham reacts to Suze reacting to Wendy reacting to Grahams reaction of Suze reacting to Wendy on Millennial Money. <--- Is there a notification bell for this?

[jessicacruz]

She was ruthless but a straight to the point!

[maestroadam]

80k a year in LA isn't much. It's like 35k a year where I live haha.

[eleazarr]

I'm still driving the Altima that I drove in college. Graduated debt free and feeling blessed.

[starzzzy]

She should sell the car and get something that actually fits her lifestyle AND won't cost a ton in repairs down the road.

[patthetrucker]

I wish suzie would come back. I used to watch her every saturday with a big plate of food.

[SAMMYish]

She needs good associations, whenever she talks expenses her boyfriend is involved. Something tells me he doesn't have a stable job

[norman]

She needs to sell the car. I would not be comfortable with that payment at her income level.

[gomezbollina]

*Great video. We all strive towards financial stability and a better life. It is easy to achieve this through the right investment, by living frugally and budgeting. I’m glad I learnt early in life to work hard for financial freedom*