Paycheck to Paycheck on a Six Figure Salary

What I spend in a month as a UX designer making $130,000/year, living in Utah with a family of four.

60% of Americans live paycheck to paycheck and 40% of them make more than SIX FIGURES! Insane. Inflation is taking its toll.

My setup:

[elchicano]

As a former loan officer who worked in a mortgage company doing refinances, I became acutely aware of the following truism, "It's NOT how much money you make, it's how much you get to KEEP". I was repeatedly stunned when I saw how families making 150K to 300K per year were in deep financial trouble. What they never considered is the financial condition you can find yourself in if one partner loses their job or gets ill for any length of time. Ironically it was the people making between 50K- 80K that were more inclined to spend more modestly and with greater care. I tell young people to always live below your means - doing so will keep you in good financial stead. Never forget that money is to managed and not squandered. 'Nuff

[jalengonel]

Major respect to you putting this out. As a 22 year year old still in college, real life examples of finances are so hard to come by. Thank you so much for putting this up

[irenefeng]

My spouse and I both grew up poor, so now we live way below our means. Our annual total income is 85k, but we have almost 450k in savings.

[drinkinclear]

My grandfather worked in mechanical enginnering for 30 years. He climbed the ladder to become department manager and when his boss was sick he would assume district manager. He brought home over $180k per year. (This was also 10-15 years ago so today like 250K)



He died in debt. Too much pride to tell anyone. He had always been bad at managing money. I will not make the same mistake.

[DamienTalksMoney]

Well done for being this honest. This is the kind of content that helps people address their own financial struggles.

[BillLaBrie]

I had my years of making deep into the six-figure range. I still drove used cars, lived in a simple townhome, cooked most of my own meals, vacationed car-camping at the lake, wore clothes from Costco and Old Navy. After a while, it became very obvious I wasn’t fitting in. Everyone I worked with drove new Audis or Range Rovers, lived in a McMansion, and constantly complained about being broke. There I was, just being me, doing what I wanted to do, not caring if I got a two-week notice or not. I felt I was the object of a weird blend of envy and contempt from those who worked around me. Those days ended and I moved on. Nothing changed for me.

I’ve seen what phony wealth can do, and the perks are not worth the effort.

[matthewlubey]

As an 18 year old going to live off on my own this video was perfect. It helped me realize no matter how much money you make you need to make money conscious decisions

[TylerofSc]

9-5 money gives you fuel for the fire. Use it to buy cash-flowing assets that put money in your pocket every month. The predictable 9-5 income will allow you the freedom to explore different investment opportunities and see what works for you. Don't underestimate a salary.

[UdoADHD]

Hey man do not feel bad you’re not paycheck to paycheck. You have life insurance, 2 savings, enough to eat out, shop a bit AND vacay with the kids? Look, you’re not “no need to see the price tag” rich, but you’re not paycheck to paycheck. Y’all are comfortable!

[Chicagocubbiegirl]

During covid when I worked at home I saved so much money it was ridiculous. The morning Starbucks, lunch, afternoon snacks and the occasional uber home, and doing carryout dinner at least 2x a week, all went into my pocket and suddenly I had an extra 1k a month. It was life changing and I've managed to keep it mostly going ever since.

[tellavist]

This is so enlightning to come by Instead off all these, 'how I make 10k a week' type of videos. Props to you for putting yourself out there and showing the vulnerability!

[davienihill]

We have 5 kids. I do not pay for a baby sitter, we only eat out 2 times a year. No vacations. I have a homestead with fresh food and milk that I have learned to make quite gourmet meals that are far better than restaurants, and my kids prefer my icecream and pizza. My homestead is beautiful. I prefer to stay home. I have made energy upgrades like radiant barrier in the attic to keep out heat in the summer and IN the house in the winter.Clothes are second hand but in my state, it is wealthy, and I buy nearly unused and new items for nearly nothing. You def need to make alot of changes in your budget.

[nataliesoutlet]

Super interesting video. Appreciated the transparency

[theeALister]

You deserve a ton of respect for sharing this because it is such a common problem in American households. I’m a software engineer who makes above 6 figures, and I concur that it is very easy to spend that type of income.

When I was making a third of what I do now I was much more frugal and actually saved a lot. I’ve come to realize that it’s mostly a matter of limiting unnecessary expenses as well as combating the rising costs due to inflation. This video helped me renew my focus on limiting frivolous spending.

[TheJakobRose]

spending $730 a month on eating out means you're definitely not living paycheck to paycheck what

[Gabe_Readz]

Thank you for making this video. It really does help seeing an honest breakdown of a monthly expense. Appreciate your videos

[keepcalmprepon]

When I was a kid, my dad told me "it's not what you make, it's what you spend...always pay yourself first (as in savings/investment), then live below your means", he also said that when buying a house, never do it on both incomes (if you're married or buying together), buy on one, or don't buy until you can swing it on one salary.

[JeffreyQProductions]

I always appreciate people being vulnerable and putting out this kind of information. It's not easy, but it's very valuable to others.

[hahaureadmyname]

this is why life in the military was so awesome for me. ate at the dining facilities every single day and rarely if ever spent money. even though i only brought home $2k a month i got to keep over $1500 of it directly into savings

phone - 55
motorcycle (total) - 90
internet - 100
misc. subscriptions - 40
misc purchases - <100

[mattstephenson]

Thanks for your transparency and candor - very refreshing.