5 Places I Would Put My Paycheck As A Beginner

If you want a copy of my money cheat sheet, comment “BUDGET” and I’ll send you a link! 📊

Keep watching to see the 5 accounts I would keep my money in as a beginner 💸
1. Checking - I would put at least $2k into a checking or have at least 2 months of funds to cover expenses
2. High yield savings account - I would save at least $300 a month into a HYSA until I built a 3-6 month emergency fund
3. 401K - I would put at least $500 a month into this account and only up to the company match
4. Roth IRA - I would put around $583 into my Roth IRA
5. Taxable brokerage account - If I had any leftover money, I would put the rest into this account

These accounts are great starting points for building a solid financial foundation. They help manage daily expenses, save for emergencies, and invest for the future. How do you plan to allocate your next paycheck? Let me know in the comments below! ⬇️
-Steve

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[curlyandstrong]

Amazing advice. But some people don't make enough money. 😢

[TrackVibesJA]

Bro be realistic, who's making so much to put $2000 month in a checking account? That's over 7k you have to make to do that.

[fallenazrael]

Most people dont even make 2000 a month

[uzzielfierro]

Maybe you should put a disclaimer like with how much salary or hourly rate you're working with. I think that would be more helpful to make it relatable for people who don't make a lot money. Or break it down' for ranges like 30k-40k, 40-50k, etc. That would be more helpful.

[ediegeb]

What planet is these advisors live in? I am on Earth ....

[jennathumbledore]

Yeah I’m not in that income bracket to be able to do all that. I can’t even afford rent in a two bedroom apartment.

[shrillcrayfish]

Sorry boss you ment kind but working hard and long while doing collage. I make maybe half that. And my wife and kids eat. I fed them yesterday but they keep asking for food. Ugh.

[prore]

Many employers offer Roth 401(k), no need for IRA

[hgdaneyboy]

How much did you make as a teacher cuz saving that much and paying bills and rent sounds impossible.

[Jay-fwxm]

What recommendations do you have for TBA’s?

[cesar-lu]

i think after #4, i would max out my 401k contribution :)

[chucalissa]

I dont make enough, to put away that much 34k a year

[patriciaolivera]

This would only work if you’re getting a humongous paycheck, as sadly a lot of us don’t get. 😢

[Skanchel]

I'd love to see how a Roth 401k would play into this. Wondering if it would be better to put extra money in my Roth 401k (fees of 0.48%) or only put in up to the match and then the rest in a brokerage account??

[clbdyc]

Tell me you don't live in CA without telling me you don't live in CA 😂

[Nursemomi]

Just a clarification you said $500 for 401k up to company match only, what if your company matches up to 4% you can’t go beyond 15%? You need to stay only 4%? Also if you have 401k can you open a Roth IRA account as well and how mat h if the maximum annual contribution if you have both?thank you

[staceychisolm]

how much money do you make dude? i t will take me 3 monthd to bring that home. let alone put up

[teresagastelum]

Can you please make a video explaining how to open these accounts and post it in your YouTube channel…
I’m over 50

[alphasoffitness]

Do your recommend after saving that much for HYSA when you keep saving does it go to your regular savings or keep on putting into a HYSA? Trying to save for a house

[KCH]

Where do I put my money if I'm not qualified for Roth IRA?