anywhere a 25 year old could make 6 figures is not paying sub 1000 on rent unless they're literally sleeping upright in a closet.
We should at least bring back boarding houses. If you're gonna live with strangers, you might as well get some community out of it.
And paying no student loans. Cause you know, they have one of those 100k jobs that don't require a degree. Lots of those around.
On a long enough time scale its possible, but at 25, max 7 years in the trades, first 3 or 4 as a lil squier to the lord electrician, he STILL wouldn't be clearing 6 figs in an area with 850 dollar rent.
Serious question - why do such ridiculous pie charts always have unexplained shit like "donations"?
[Edit - techpun's answer is pretty damn good.]
Gotta pad the chart somewhere so it doesn't look like rent is taking up half of it at minimum
I mentally blocked that out until you drew my attention to it, that's driving me insane. Why would you donate that much? I like to think I'm pretty charitable, but unless I'm very rich I'm not spending more on donations than groceries.
Also no rich person donates in their 20s. Why would they? Doing that doesn't get shit named after them and they can't call themselves a "philanthropist".
Pure ideology. Trying to both cast guilt upon poorer people who don't/can't donate to charities and also to make an assumed extrapolation that extremely rich people (who are assumed to be good with money) also donate nearly 1/4 of their monthly budget.
20 dollars/month for internet? i don't think internet is that cheap in U.S
He's GoOd WiTh MoNeY.
If I heard that somebody was "excellent with money" - I'd assume they ran a pyramid scheme.
I pay $120 a month on internet and it's still too slow to stream. Literally takes a solid chunk of an hour to upload a gig.
I think my favorite part of this is the fact that this hypothetical person who's making $100k/year while also living somewhere where rent is <$1k/month still isn't "good with money." They're saving/investing exactly nothing out of this, so the second they lose their job they're just as fucked as everyone else.
That's how it feels like it's framed, but the monthly budget of $2775 × 12 = $33,300.
Ah, they're showing their expenses instead of the breakdown of their take-home pay. Alright, less egregious than I thought (other than the sheer uselessness of giving financial advice assuming your audience falls into a demographic that can casually afford an actual financial advisor).
if we assume it's a 100k salary, and they're paying taxes, job-provided insurance, social security, etc., their takehome is probably around 65k, maybe 70k if they claim a few withholdings. They're saving or investing as much as they're spending.
Someone who makes $100k and spends $2800 a month definitely has money left over to save, but it's impossible to say if they are "good with money" without knowing how they actually invest it. "Spend less than you earn" when you make a lot of money is just the bare minimum, "good with money" implies you know how to use it. Without seeing his portfolio, I'd argue this guy is bad with money because he spends over $1k a month to live with multiple roommates.
someone who is good at money please help me budget this my family is dying
spend less on donations
no
Where the FUCK is internet $20/month?!
Edit: Cheaper than a HOUSE CLEANER?!
Hey remember how There’s more Ivy League grad who are reporters and journalists then there are Ivy League grads in any other field? There you go, in their bubble this is probably a starting salary and also probably can find a place for rent that cheap since dad knows the dude who owns the high end place and will cut you a deal. Same for utilities and shit.
Saw in the comments when this was posted on Reddit that this example is taken from someone who lives in NYC and shares an apartment with 3 roommates. Have no idea whether that's true, but with that context the budget actually does make sense.
It squares rent (assuming an even split 4 ways total rent would be $3,300 total), Cleaning, and Internet.
Transportation also makes sense ($130 is cost of monthly unlimited metro card), and Groceries/Dining out are pretty typical for NYC.
I'm willing to bet that Donations is actually his alcohol and drugs budget tbh.
Or, if we go the "they really fudged this to make it palatable but in a way that is nefarious" route, it's a combo of his CC and Student Loan payments.
Other than the high salary, this chart assumes no children, no serious medical conditions, no car note or car insurance (unless that's transportation), no student debt, no credit card debt. That's also a lot of food for one person unless they're eating lobster twice a week.
If I spend over 50 dollars a week on groceries including toiletries I feel like throwing up and later need to take things out of my budget to make up for it. Cool colors on the graph though!
where is this magical place where there is good public transportation for $130 a month and rent is only $850
They’re usually full of white people overdosing on heroin
where is this magical place where there is good public transportation for $130 a month
I'm sure that's his gas bill for a car his parents paid off.
Who is this shit for? I can only assume the whole point is for outlets to publish horribly out-of-touch garbage like this just to piss people off and farm the outrage for engagement.
I bet there were advertisements for investment services in the article. The pod had an episode on this sort of thing:
Episode 77: Frugality Fables and the Poor-Shaming Grift of Financial Advice Journalism
You could actually improve this budget a lot by refusing to pay rent. It's called being excellent with money.
I'd totally become a hobo for a few months just so I don't have to pay rent -- but unfortunately it's next to impossible to find a new place to live, and requires rEfeReNCeS like it's fucking employment or something. I wonder if you ever have to "explain" a gap in housing or something to get accepted for some shitty rental like you would for "employment gaps".
