How The 9-5 Job Keeps You BROKE

The 9-5 job often keeps people living paycheck to paycheck, but not for the reasons you might expect.

My Favorite Personal Finance Books

Chapters

00:00 Start Here
01:22 You Get A False Sense of Security
02:56 A Predictable Paycheck Encourages You to Live Paycheck to Paycheck
04:42 A Predictable Paycheck Encourages You To Delay Action
06:32 It Traps You In One Stream of Income
08:22 It Consumes All of Your Time
10:25 It Creates Fear of Trying Something New

Many people who work a 9-5 job have a good salary, good benefits, and feel some level of security; however, despite this, many 9-5 workers are still living paycheck to paycheck. 9-5 jobs are often very comfortable and it is this comfort that often keeps people living paycheck to paycheck. In this video, I talk about 6 reasons on why the 9-5 job keeps people broke and living paycheck to paycheck.

1. You Get A False Sense of Security

Oftentimes when you work a 9-5 job, you feel a decent level of security that you can depend on the job and your future is secure. This causes people to not take steps to financial prepare for life's challenges and not create an emergency fund, grow their money with investments, and be living paycheck to paycheck. However, no job is 100% secure and eventually many people come to the realization that this job they thought was secure actually wasn't and they are not prepared and have financial problems very quickly. It is important to financially prepare for life's surprises or you will end up broke because no job is 100% secure.

2. A Predictable Paycheck Encourages You to Live Paycheck to Paycheck

One of the biggest benefits of working the 9-5 job is having a predictable paycheck where you know how much you are making every week. This gives you a specific amount that you can base your life around which allows you to do things like take on long term commitments like a mortgage, create a higher budget, and plan for the future more. This predictable paycheck, however, often encourages people to live paycheck to paycheck because people start to believe that their paycheck will always be coming and don't take steps to financially prepare in case they no longer have a paycheck.

3. A Predictable Paycheck Encourages You To Delay Action

Another side effect of having a predictable paycheck is that you often feel a certain level of security that you will continue to have this paycheck in the future that it encourages you to delay taking action to reach your financial goals. When you feel secure at your job, you don't feel a sense of urgency and delay taking action because you believe that there is no rush. It is important to know that no job is 100% secure and feel a sense of urgency to reach your financial goals.

4. It Traps You In One Stream of Income

When you work a 9-5 job, you often become content with your paycheck being your only stream of income, which can be a dangerous thing because (1) you are 100% dependent on getting money from your paycheck and (2) making money is 100% dependent on your labor. If your paycheck stops coming in for some reason, then 100% of your money stops coming in and you become broke. It is important to take steps to create multiple streams of income in your life, which is realistic for everyone through things like investing in index funds, receiving dividends, or finding a part time side hustle. And even if they are only a small percentage of your income, if you lose your paycheck, you will still have some other streams of income generating money.

5. It Consumes All of Your Time

The 9-5 job is theoretically only 8 hours a day; however, the reality is most people's day is connected to their job doing things like getting ready for work, commuting to work, and doing final domestic duties before the day is over. This prevents people from being able to take action to be more organized financially or have the time to seek better jobs if they are making a low income. It is important to take steps to build a financial nest egg in case you need to free up some time in your life.

6. It Creates Fear of Trying Something New

When you work a 9-5 job, you receive many benefits that makes your life comfortable like a predictable paycheck, employee benefits, and a sense of security. Oftentimes, however, these benefits create this fear to move on to something new, possibly better because now you have something to lose. Then, people become content spending all their money and living paycheck to paycheck because they feel stuck at their job.

** Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **

[RJC]

My 9-5 enabled me to save 75% of my income every month and retire at 37 😊
All depends what you do with your money!

[WilliamMartinez-vqbn]

I was forced into retirement. Recently I now feel like I've been let loose from a 40 year prison sentence. I feel absolutely fabulous. I do not miss the toxic culture at my job. I do not miss the traffic. I do not miss the danger of my job. I used to feel safe driving the truck. But when cell phones came out, I used to go to work and fear every day that someone would hit me while I was loaded and sent me flying Into the Woods. I feel I do not miss my 10 bosses. That means 20 hands have let go of my basketballs the joy I feel is beyond measure., ,,thanks for all your videos!!!!❤

[Imran-Lalani]

Jobs don’t make you broke. You do. It’s what you do with money.

[zeekay]

I guess I'm in the minority. I've been working a 9-5 job for many years and my approach to my pay was "how much of this can I SAVE" rather than "how much I can spend". That's helped me through some dark times.

[Joce]

I worked a toxic 9-5.job...bought stuff to cover my pain at working at that job...hamster wheel

[lauracastro]

I am an immigrant and I’m stuck in the 9-5 work. I was feeling very comfortable since my low paid job allows me to afford basic things compare to what I would make in my country. However, watching your videos give me strength and bravery to quit this rat race. Thanks for that 😊

[kortyEdna]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?

[andreabellini]

The pandemic should have taught everyone there is no such thing as job security. When I got laid off during the shutdown I started my own business and actually was profitable during Covid. Going on 4 years now working for myself and I have 4 employees as well

[tjtj]

I wish I had the energy for a side hustle, but I need some rest and relaxation in my life after working a FT corporate job. Lol

[Savannah-edrv]

Definitely a 9 to 5:00 job as an extremely hard way to live but if there were no such thing you would have no nurses, no grocery store people, no policeman, etcetera etcetera. Not everybody can be a YouTuber and if they were our country would fall apart. We have to be able to depend on a certain amount of people to keep businesses and Society going.

[MissNewsky]

I relate completely! I lost my job due to cuts 2 years ago, but I didn't panic, because I had been prepared. My work place had struggled financially for 5 years and I knew it was coming for some of us. It caught a lot off guard, they said, but that's not entirely true. I found a new job fast and I still save as if I don't know what tomorrow brings, cause we really don't😅
I don't like the idea of being owned. Savings=freedom❤

[snooksmcdermott]

I think more people would take risks if health insurance wasn't an issue.

[juliem.]

"The 9 to 5 job is a very comfortable life...and those people are good consumers that feed the wheels of capitalism." Ouch! The only "problem" having a very comfortable life is NOT saving enough $$.

[Jacquie_Kirk_]

It's easier to spend LESS than make more! Another amazing video!

[loveandjoy]

I agree. I delayed taking a lot of financial actions because I felt safe. But I started to realize I could be let go at any time and that’s when I made real financial progress. I paid off my student loans paid off my car and saved an emergency fund. I sleep better at night knowing I have a cushion

[aarondelsink]

I started working at an airport for an airline, so I didn't have to work a 9 to 5 job. The biggest benefit from this job is that I am not always around in my circle of friends who are spending their money in the weekends or even during week days. I am either working in the evening, night, very early morning or weekends. So I always have an exuse not to go out with my friends ( spending money ) because I am at work or in my bed, sleeping 😛

[thedailymakermaking]

Great video! ❤ Another part of the false security is not realizing there are some industries that will squeeze you out as you age.

[kindraporter]

I saved money and quit my 8 to 5 job for my health. I felt so guilty for about 3 years, but now I am comfortable. I can live without the rat race. I miss the income, but I don't miss the stress.

[eviec]

At the end of the day, it depends on what you do for a living; your spending habits; and your household situation.

[Revert]

I use to work at a restaurant. The same group of office people would come in EVERY day for lunch. Some of them had kids in daycare. Most Houstonians need a car with gas and insurance.I can only imagine that the actual amount they had left over was really small. As a contractor, I live in fear of losing my job and not having security. I am an advocate of “safe” jobs. The “safe” jobs require living in the reality of what you are actually spending and what you are actually making.