Update: Living On $280K A Year In Metro Detroit

Update: Living On $280K A Year In Metro Detroit | Millennial Money

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Before the coronavirus pandemic, Alex Pardoe earned $280,000 a year as a hairdresser who co-owns his own salon. But when the salon had to close its doors in March, Pardoe lost most of his income as well. This is a special installment of Millennial Money, which profiles millennials across the U.S. and details how they manage their money.
Read more about Alex here: cnb.cx/35G2JWP
Closing his hair salon, Aesthetic Hair Co., in Detroit, Michigan, is the hardest thing 26-year-old Alex Pardoe has ever had to do.
Due to the coronavirus pandemic, Pardoe and his co-owners had to shutter the salon on March 17, and temporarily let go of all of their employees so they could collect unemployment benefits.
“Having to lay off my employees was one of the most difficult decisions that me and my business partners have ever had to make,” he tells CNBC Make It. “But in this particular climate, we had really no other option. There is no way for us to keep people on a payroll with nothing coming in.”
Still, Pardoe knows closing was the right choice. Although it’s a stressful time for everyone, “it’s an important time for us to stay home and be as healthy as we possibly can,” Pardoe says. “With hairdressing, there is no way for us to maintain social distance. It was really important for us to close.”
The salon received a loan through the Paycheck Protection Program during the second round of funding, which the co-owners plan to use to cover payroll costs once they are allowed to reopen. Currently, they are using the loan to cover other qualified costs, like rent and utilities, per guidelines set by the Small Business Administration. They plan to carefully follow the SBA’s guidelines for the loan in order to have it eventually forgiven.
For Pardoe himself, closing the doors at Aesthetic has meant a significant loss in income. He previously earned around $280,000 a year, primarily from working with clients directly cutting hair, putting in extensions and doing color work. But as the pandemic continues, he’s self-isolating at home with his dog, Biscuit, unable to see clients in person.
Pardoe still brings in some income from partial ownership in an investment property, his e-commerce line of hair products, online education and affiliate and sponsored opportunities through Instagram. He estimates that generates about $3,000 to $4,000 per month, which covers a large chunk of his expenses, and he also says he will receive about $350 per week in unemployment.
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Update: Living On $280K A Year In Metro Detroit | Millennial Money

Пікірлер: 631

@CNBCMakeIt 4 жыл бұрын

What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K

@xoxoxoxoxoxo3776 4 жыл бұрын

100k at 25 years old ❤️

@lawrencebohler2347 4 жыл бұрын

I'm annoyed by whoever decided this update was necessary. It probably wasn't the greatest idea for him to do it either. It just showcased his continued lavish spending while his employees are laid off, and he's collecting unemployment while earning an income. Also, there is no explanation for the extreme deficit shown between his income and expenses. I'm unsure of how this fits in with the dedication of "making you smarter about managing your business, career, and money" that CNBC claimed in the caption of this video. It comes off as fiscally irresponsible and highly tone deaf.

@primitiveafrican3356 3 жыл бұрын

Maybe this is a lesson on how not to spend money. I mean the fact that people in the comments notice that he is fiscally irresponsible shows that they have learnt one or two things about how to be smart about money.

@tyisha2105 3 жыл бұрын

If I make 460 dollars in one week it disqualifies me for unemployment that week. He’s getting Instagram money, is a business owner, has a hair care line and investment properties and he’s getting unemployment. How is this even possible? Oh and he has 20,000 in his checking account I have 13 bucks in mine.

@emcat5741 3 жыл бұрын

@@tyisha2105 Ya that is insane. He will most likely get audited and have to pay back his unemployment later on because he def shouldn't qualify with his additional income.

@Myview246 2 жыл бұрын

honestly seems like they just did an update so that he could show off his stupid new hair.

@abbyoneill4473 4 жыл бұрын

He makes 3-4k now but is still spending 10k? Something doesn’t add up... And 1200/mo for one person’s food is a disgusting waste.

@silvaphoenix3652 4 жыл бұрын

Abby ONeill I think the expenses were for before the lockdown so February.

@marisap09 4 жыл бұрын

It says April 2019 on the breakdown graphic

@marisap09 4 жыл бұрын

Oh my bad there’s also an updated graphic for 2020.

@tjjames6455 4 жыл бұрын

@@silvaphoenix3652 he stated he cut down to 300 a week on food, that has to be takeout!

@christinarach340 4 жыл бұрын

He obviously had enough money in his checking acc before all this happened. It's not like he had $0 and now earns 3k a month

@wreckemtech165 4 жыл бұрын

Bro you on unemployment while driving a G wagon like wow

@elebea868 4 жыл бұрын

He gets unemployment? But still makes $2K on IG and spends $300 on food a week. Honestly, someone who made his income should not be getting unemployment and the business govt help.

@colorfulcodes 4 жыл бұрын

Why not? Half his money goes to taxes and paying for Social Security. Everyone who contributed should get back as it's theirs.

@elebea868 4 жыл бұрын

Colorful Codes He is making income , he makes $2K on IG and still makes income Selling products . He is not unemployed

@colorfulcodes 4 жыл бұрын

@@elebea868 he gets a check for reduced hours not total unemployment. Lots of people like him qualify. He paid like 50k minimum in taxes just last year. So what if he gets 5k back.

@msbeautyboss3784 4 жыл бұрын

@@elebea868 Because of the pandemic, if you are self employed or have a business the questions are different then regular unemployment. He had to close his door to his business that had 29 employee's. He still will qualify based off the questions unemployment asked.

@terrierlover 4 жыл бұрын

Colorful Codes spending $1200 on food monthly is not starving. Making 3-4,000 a month is not poor. He doesn’t know budgeting and is not suffering. He still has income coming in and is not unemployed. He should not be on unemployment. Hes not paying taxes like he used to making less money now so stfu

@nicr7959 4 жыл бұрын

My lord his car expenses are insane. That's almost my income right now.

@Dhdhxhh38 4 жыл бұрын

Nick i8 are a waste of money but you love and you learn

@kryssyg 4 жыл бұрын

He should buy instead of lease, he’s wasting so much money leasing

@asadb1990 4 жыл бұрын

i would be happy with a camry

@ajlee6933 4 жыл бұрын

Kryssy G, leasing an 150k BMW i8 is actually smarter. He pays $1300 a month for 36 months, which puts him at $46,800 at the end of the lease. The car was under warranty, and included free maintenance. If he would’ve financed for 5 years, his payment would’ve roughly been 2800 a month. So now that he wants to get rid of it, 2800 a month would’ve put him out of pocket at 100,800 over 3 years. On top of that, cars like this aren’t known for good resale value.

@TheCreoleSon89 4 жыл бұрын

That's more than mine lol. Haha

@harmony323 4 жыл бұрын

How does he qualify for unemployment if he still has all of these “lucrative” business opportunities and income??

@Gride9782781 4 жыл бұрын

I had two jobs which totaled 60 hours a week, now I work only 20 because I lost one. I still qualify for unemployment. It just depends on the percentage of income you have coming in for actual spending cash. It also depends on the state's laws. Investments where he doesn't see the cash flow monthly, don't count towards income.

@MrDamienPatrick 4 жыл бұрын

Under the new guidelines it is lost of hours and lost of wages, especially for self employed people. So he does qualify.

@Dhdhxhh38 4 жыл бұрын

If you watched the Graham video he did, he said that he gets paid “like any other employee” for styling. His styling was the bulk of his income at 190,000. I believe he is a w2 employee so since he isn’t getting paid and is furloughed, like everyone else, he gets unemployment.

@toniwonkanobi 4 жыл бұрын

Why shouldn't he be entitled to some free money like the poors? Did he not pay [way more!] taxes than the average poor person?

@MrDamienPatrick 4 жыл бұрын

@@toniwonkanobi Exactly, these people think because he makes more money than them he doesn't deserve unemployment when his wages get cut by the crisis.

@BookofFuture 4 жыл бұрын

Bruh, $4,200 on car payments? That’s more than most mortgages.

@Lospaghetto 4 жыл бұрын

I don't get 2500 on food and a phone bill of 230 a month? That's crazy

@LaidbackLuc9 4 жыл бұрын

Mr. Haha 89 More than most household incomes actually.

@asdfnone1346 4 жыл бұрын

Maybe he has bad credit scores.. that’s what I could think of..

@momofmany9954 4 жыл бұрын

That's the average household income in Metro Detroit.😅 Anyone with a 4200 dollar Mortgage in our town lives in a million dollar home then. The average rent is between 800-1800 a month depending on size and location in Metro Detroit.

@UnplayedGaming 4 жыл бұрын

@@momofmany9954 he lives in some rich area in Michigan idk why they say "detroit"

@stacyannbowen6493 4 жыл бұрын

But why is he getting unemployment

@johnsamuel1999 4 жыл бұрын

the rules were relaxed to include freelancers and self employed. depends on the state

@flakgun153 4 жыл бұрын

Because he pays unemployment insurance taxes like everyone else

@banshee1133 3 жыл бұрын

Because he could no longer work at the salon

@investingwithwilliamtherob2834 4 жыл бұрын

I am very confuse, how is he not dipping into his saving if he only makes 3000- 4000 a month but he spending 10349. Yet he said that he has not dip into saving or checking.

@TheCreoleSon89 4 жыл бұрын

He is gonna float it on CC. I don't trust his "about 1k". I really thought He was gonna change with Graham.

@fredmagic09 4 жыл бұрын

He's slanging dope on the side.

@kimwatson6869 4 жыл бұрын

I was back on rent and loan debts few months ago until i was referred to this gentleman on Financewebservice@gmail com who helped me with boosting my credit score and also helped me with side jobs so i can make some thousands of dollars within few days to settle my credit cards debt asap. I'm very grateful and would happily refer others who need financial help

@kemikunle9360 4 жыл бұрын

I think he's spending that 20K that he says he always keeps in his checkings

@pierrek1410 4 жыл бұрын

goal investing they said since March he makes 3 to 4 k

@brightbluesmurf 4 жыл бұрын

My god $2500 monthly on food is this guy eating fine dining every day?

@AndrewLaMonica1 4 жыл бұрын

That's about 80 a day if breakfast is that is over 25 over a meal that is like steak every meal

@ceal4046 3 жыл бұрын

I don't think fine dining exists in Detroit ... I bet this is the total cost including illegal consumables

@Elitepresshd 4 жыл бұрын

I would’ve have respected this guy wayyy more if he was driving a Honda Accord with less or even no car payment than that bmw and g wagon

@thekaerichtexas 3 жыл бұрын

Right

@drewconway7135 4 жыл бұрын

Eating frozen pizza and chicken nuggets and still spending $1,200 a month on food? For ONE person?! 😱 I also don’t know why you would stop contributing to your Roth. That’s a huge mistake. $24k in a savings account, but not using any of that to fund the Roth is dumb.

@TheDecoCottage 4 жыл бұрын

That also made me question the advice he was getting. It’s the opposite of the advice my husband and I got from our financial planner. Now is a great time to invest in retirement accounts and stocks. They are low right now so you’re able to buy more shares with the funds you contribute. Values are likely to rise as the economy bounces back, meaning you’ll make more money.

@Cmeigs017 3 жыл бұрын

@@TheDecoCottage Big time! I'm up $300 from March

@thekaerichtexas 3 жыл бұрын

For that amount of be eating steak every day

@LuxeByLo 4 жыл бұрын

I’m confused on why he still has $3000 of credit card debt if he just listed off $55000 between his checking and high yield savings accounts.

@implussed 4 жыл бұрын

he's irresponsible lol

@martyhen 4 жыл бұрын

Interest free loans are great

@QSUSPvP 4 жыл бұрын

I'm "$1,700 in credit card debt". I have the funds to pay it off, but will only do so (in full) when it's due. $1,700 will make me $6.52 in my high yield savings account in the duration of my statement cycle. I pay off my credit card in full every statement, and keep a utilization rate under 10%, plus I make interest on the free loans.

@ilovenyc2129 4 жыл бұрын

Luxe By Lo @graham stephan will be fuming lol

@fullofjeff 4 жыл бұрын

If they’re not charging interest there’s not much of a reason to pay it. I decided to hold off on paying a large chunk of cc expenses during covid as I received a targeted offer for interest free for 3 months. My rationale was if the economy doesn’t rebound I am screwed anyways and I’d rather have an extra $40k in liquidity and trash my credit while we go into a recession or I pay it off at the end of the 3 months and made an extra $400 from interest in a savings account

@N171985 4 жыл бұрын

His clients might not all come back if they don’t have jobs to go back to themselves. Not to worry he could sell the cars

@viralityfactor987 4 жыл бұрын

Its on lease. He won't be able to sell that.

@asadb1990 4 жыл бұрын

@@viralityfactor987 you can do lease takeover. and get out of the payments.

@anng7035 4 жыл бұрын

He could buy out the lease then sell it.

@petersachs764 4 жыл бұрын

So it's possible that having a lavish Mercedes SUV might be what helps him blend and mingle with with all the other hedonic-treadmill climbing status symbol obsessed idiots customers and social circle. The second car could however be a used 5 year old Lexus or Toyota Avalon. Heck, if he wants to stay with the BMW i3 theme get a Tesla Model 3.

@Thatsoausten 3 жыл бұрын

great so he can drive a BMW and a G wagon and remodel his house and buy expensive clothes but lays off his employees.... nice great guy

@Imhairforyeaux_75 2 жыл бұрын

Elaborate please. His his responsibility is not to his employees, respectfully.

@haute03 2 жыл бұрын

@@Imhairforyeaux_75 Huh? He is an employer and, therefore, responsible for his employees.

@Mvubo 4 жыл бұрын

He still has a long way to go. He hasn't yet been forced to reorganize his lifestyle. I've been there. He's talented and will make good money again.

@gabrielrios5243 4 жыл бұрын

$280k last year and still didn't save up last year? Hm

@HypheBoy7 4 жыл бұрын

Gabriel Rios yea.. sketch

@tommycastro9424 4 жыл бұрын

People think money will make you rich..it doesn’t it’s about mentality that will make you rich. My sister makes 3x more then me since I’m still a student but I earn more on my annual dividends then what she saves a year. Live below your means people even investing 100 a month will make you 178k in 30 years 200 a month would make it below 400k

@Drakotar 4 жыл бұрын

Tommy Castro (100 * 12) * 30 is $36,000, not $500,000 lol

@tommycastro9424 4 жыл бұрын

Drakotar you insolent little fool you forgot compound interest s and p is has historical average of 9% or around their ei believe so put that in calculation

@tommycastro9424 4 жыл бұрын

precious A oh yeah you right I correct it but point is to invest and it will grow a lot

@mistertee5000 4 жыл бұрын

Dude you need to get rid of that G-wagon. When your car LEASE costs twice your mortgage, you're doing it very, very wrong. A car 1/3 to 1/2 the cost would be just as awesome.

@jackwakelam152 4 жыл бұрын

He got a financial advisor because he watched Graham Stephans video

@banshee1133 3 жыл бұрын

They met. They had an interview.

@qeetta92 4 жыл бұрын

I literally only clicked on here because of the hair 😂

@Darl-ur3uq 3 жыл бұрын

I guess it's a wig , no ! Wigs are totally fine I'm just asking , cuz that hair is good

@anng7035 4 жыл бұрын

Alex is a business owner who was doing well up until Covid 19 hit. Owning a successful hair salon is an amazing achievement at his young age. I formerly owned a hair salon and I can tell you it's not easy to build a clientele and keep them.

@jakesiu7664 4 жыл бұрын

A lot of people may criticize but I think you've done a huge improvement. good job!!

@yournextsmile 4 жыл бұрын

I agree I think he’s doing way better than before.

@anng7035 4 жыл бұрын

Agree!

@magicsam8247 4 жыл бұрын

Thank you!! Let him live and learn, he is doing good for himself and a lot better than most!

@truthxbexheard1 4 жыл бұрын

TLS

@Mvubo 4 жыл бұрын

Where's the improvement from last year? His expenses are a third lower. Well, the income is a lot lower, too. He's still in debt.

@GameFuMaster 3 жыл бұрын

the cars he should have sold or traded definitely. But the credit card debt is fine as he's making minimum payments and the card issuer isn't charging interest.

@tshililomugovheli2717 3 жыл бұрын

The attitude has improved a lot. He's speaking about learning personal finance ei now thinking that bmw is unnecessary

@tishtash321 4 жыл бұрын

How is he spending $10k per month, bringing in $3000 per month from investments, but still getting $350 weekly in unemployment and has a few thousand in credit card debt? This is crazy

@tianachet713 4 жыл бұрын

tishtash321 about 4000 in unemployment

@tishtash321 4 жыл бұрын

@@tianachet713 $362 per week 2:45

@chertp28 3 жыл бұрын

@@tishtash321 plus that additional $600

@karlitop7497 4 жыл бұрын

$300 a week for food. I spend $300 a month on food !. Yikes !!! My mother always told me just because you have it doesn't mean you need to spend it

@PamelaTaylor 4 жыл бұрын

That's so true

@rileykiller5 3 жыл бұрын

He was spending $625 on food a week in 2019 so i mean $300 is cheap for him

@constancelequesne601 4 жыл бұрын

He’s doing so much better, but the cars, THE CARRRRRRRSSSSS 😭😭😭

@RiFit 4 жыл бұрын

This is a mess! 300 dollars a week on food. I mean it's just sooo much spending here. It's alot 🤦🏿‍♀️

@InconvenientTruth50 4 жыл бұрын

For 1 person. I guess if you don't know how to cook frozen dinners add up🤷🏽‍♂️

@TheCreoleSon89 4 жыл бұрын

And meanwhile I get mad when I spend over 20. I put back some cashews the other day... Smh.

@misshoneynevercame4832 4 жыл бұрын

@@TheCreoleSon89 🤣 Nuts are crazy expensive. Had to do that as well.

@TheCreoleSon89 4 жыл бұрын

@@misshoneynevercame4832 I can afford it 800 times over but I always think (wow I could put this 6.99 in the stock market instead and get more satisfaction) or normally what I do is go get the 1.79 dry roasted peanuts and pretend they are cashews. Mind over matter 😂😂😂.

@JChang0114 4 жыл бұрын

A single person could spend $300 a month and still eat pretty well.

@Potato-ug7qj 4 жыл бұрын

I HAVE BEEN WAITING FOR THIS SINCE THE PANDEMIC STARTED!!! it’s like this channel reads our minds

@topcomment3816 4 жыл бұрын

Imagine working for this thing/person, getting laid off, and then finding out that he was spending $4,200 a month on car payments.

@chertp28 3 жыл бұрын

So you would continue to pay your employees when they’re not working and your business is closed???

@topcomment3816 3 жыл бұрын

@Anne Day A him? Did you just assume the gender of this thing? You need to apologize!

@thekulture5168 4 жыл бұрын

If someone mentions a Graham again, I swear I will pass out 🙇🏽‍♀️

@tvs9978 4 жыл бұрын

Graham....

@aw7474 4 жыл бұрын

I mean you just mentioned him ...

@TheOneAboveAllx 4 жыл бұрын

Graham will be so disappointed after seeing his monthly spending budget!

@prantoosaikia7388 4 жыл бұрын

His money habits are revolting TBH.

@tondaleyacarter7355 4 жыл бұрын

Sell the purses and pay the credit cards off! You have that in your savings also.

@banshee1133 3 жыл бұрын

Theyre not charging interest for that right now. So it wouldn't make much of a difference. If he pays it off right now or not.

@ricseeds4835 3 жыл бұрын

But... he went into credit card debt to get the purse (probably)

@rrufio3026 4 жыл бұрын

This pandemic really open eyes for a lot of people in terms of saving cost etc. Good for him to be waking up that he doesn't need all this stuff.

@kennyadvocat 4 жыл бұрын

I was just thinking about this guy. So glad they did an update!

@brunoluis182 3 жыл бұрын

He takes unemployment while still working. Taking the opportunity from someone that really needs it. This is stupid.

@blahblahblahfunny 4 жыл бұрын

Waiting for Graham's reaction on those cars 🤭

@vyarnier6425 2 жыл бұрын

im proud he’s making progress & learning

@SincerelySandcha 4 жыл бұрын

Thank you so much so giving us an update. As a fellow beauty pro, I understand what you are going through. Closed my doors March 23. Also, don't feel bad about what you spent in the past, feel good about what you're doing now. Can't wait for another update❤

@truthxbexheard1 4 жыл бұрын

Wtf.. unemployment?! Leave that for people who are actually unemployed and need it more than you do.

@Y_Canada 4 жыл бұрын

This guy made quite a few improvements. Kudos for buying a property and investing in rental properties. I hope he will end up selling the BMW asap to cut down the car expenses by $1,500 or so (lease and insurance). Spending $300 on food as opposed to a few grand weekly is a huge step up! Good job! To be honest, I would have probably gotten rid of the G Wagon too. But this gentleman has built a successful business, so I get why he wants to have a fancy toy. He deserves it.

@sunshinexoxo6107 4 жыл бұрын

You have improved. Happy for you.

@MrDance4meh 3 жыл бұрын

I’m happy you’re doing much better, thank the lord you got an advisor

@yoshikow 4 жыл бұрын

Timeeeeeeee : how did he get unemployment that quick when my friend that got laid off and has two kids has been filing every week and that haven’t even begin to approve her for her unemployment. ........HOW SWAY?

@indyfmw 4 жыл бұрын

Yoshiko W isn’t it different for states?

@mar7268 4 жыл бұрын

He has rental properties and still brings in enough and more money than 99% of those filling for unemployment. He’s just greedy and cheating the system regardless of what state he’s in. He makes money off of instagram and products like how is that not fraud??

@Jaegi_ 4 жыл бұрын

Lizzy S unemployment has been adjusted to consider a decline in income not just absolutely no streams of income. What’s he’s doing isn’t illegal. It’s encouraged since that’s one of the things that were added on. If you or anyone you know has experienced a cut in hours or a loss in income from side hustles I would encourage you to apply.

@FinancialClout 4 жыл бұрын

Jae By Day ...I get it. But at what point do you take a step back and acknowledge that just because you can do it doesn’t mean you should

@mar7268 4 жыл бұрын

FinancialClout exactly

@adorablebelle 4 жыл бұрын

It's good he's learning to eat at home! I was wondering how he was as a hair salon owner; thanks for the update

@Summer_Jay 4 жыл бұрын

if he could just make his food bill to about 300 dollars a month he could be saving way more or even pay off my credit card in 2 months. he's spending way to much money. he need to sell those cars and those bags, since they don't mean anything and save more. cut back on food, people don't need to eat that much, its not that serious. it must be takeout food.

@didine256 4 жыл бұрын

Food expenses $2500 😲 He feeds a family of 10 or what?!

@kevinsoo633 4 жыл бұрын

Seen how big he is?

@estherwolobah576 4 жыл бұрын

KEVIN 😂😭😭

@victoriasbudget4556 3 жыл бұрын

You have grown so much from the 1st video. That's awesome. Thanks 4 sharing your life.

@theannoyingone903 3 жыл бұрын

You're never dumb, we just make choices .. Alex is a smart guy

@lidali2 4 жыл бұрын

He gets unemployment?

@jacksmith1957 4 жыл бұрын

Smh tax money going to him even he 280k a year I don’t think he needs that extra money

@MrDamienPatrick 4 жыл бұрын

@@jacksmith1957 He earned his 280k a year so stop being bitter. Get a scale in high demand and you can do the same. Under the new guidelines it is lost of hours and lost of wages, especially for self employed people. So he does qualify.

@zevlove612 4 жыл бұрын

Why not? In good times govt is happy to collect his taxes ..so why not vice versa in bad times?

@jacksmith1957 4 жыл бұрын

Yeah but he shouldn’t be collecting unemployment when he owns such a successful business

@zevlove612 4 жыл бұрын

@@jacksmith1957 his business is locked down and workers furloughed he has no revenue. How is that a successful business right now. The checks are to cover lockdown period thats all. Give everyone their dues...in times of plenty he is one of the bigger taxpayers

@hr9592 4 жыл бұрын

Glad his income went DOWN. He was so full of himself and loved showing off his mercedes and bag collection

@GREENLALI 4 жыл бұрын

I seriously think the government needs to look at people bank and property value before giving the Unemployment, or bankruptcy. Ridiculous

@TheCreoleSon89 4 жыл бұрын

Right! They do it for Pell. What not cross the board.

@dalizagold123 4 жыл бұрын

Of the two cars, why get rid of the BWM and not the G Wagon? Its 3k a month...

@Goldsavergamer 4 жыл бұрын

SweetD most likely needs it to carry stuff around like his hair product line he was talking about. And dang car insurance so cheap in states - unless I heard wrong - 250 a month? Thats 3k a year for both luxury cars.

@TheTbabylati 4 жыл бұрын

SweetD q wagon is the more status vehicle.

@TheKayleeanna 4 жыл бұрын

He's trying to impress people.

@haute03 3 жыл бұрын

Exactly. The gas alone on that thing probably sets him back way more than the BMW.

@Juliejooon 4 жыл бұрын

I love the transparency on the $ #s - super helpful

@JuanGarcia-pe7me 4 жыл бұрын

What an IMPROVEMENT!

@zuesdelrey4348 4 жыл бұрын

The way he had his stomach tucked into those joggers! 😳🤭

@archived4530 4 жыл бұрын

LMAOOOOOO

@StilettoShay 4 жыл бұрын

You don't know his journey--be nice.

@Muselovesyou 4 жыл бұрын

That’s 2.5k worth of food baby right there lol

@salemdesigns65 4 жыл бұрын

Hahahha😄✌

@estherwolobah576 4 жыл бұрын

🤣🤣🤣🤣😂😭😭 I-

@caitlinmuncy1219 4 жыл бұрын

Dude, just pay off the credit card

@nilejewel3798 4 жыл бұрын

When is he going to sell a car? $3k for cars but $25 on CC. It's still not making sense for him. AND he is still walking across the street. Literally. Please don't give him anymore airtime

@TheBthebabe 4 жыл бұрын

Proud of you! You've made good changes and I'm sure you'll continue to increase your financial literacy! 👍🏽

@biggmonie 4 жыл бұрын

I wondered about him. Thanks for the update.

@julianstrom9975 4 жыл бұрын

he makes 280k and says, "I had no other option but to layoff my employees".

@runfunmc64 4 жыл бұрын

Well he also applied for the small business loan and his employees are getting unemployment

@amde8554 4 жыл бұрын

He also has overhead expenses -$280k annually post tax won’t sustain him, his business and his employees.

@jasonburns6411 4 жыл бұрын

So his employees are getting unemployment.. what, $250 a week? And I’d bet the farm he’s NOT paying his employees salary with that PPP loan.

@Bobo-jy5mg 4 жыл бұрын

Jason Burns the PPP loan is for employees mostly... it would illegal for him not to. I HIGHLY doubt it’s not going to the employees as he would be risking fraud. Your just hating on him just to hate at this point

@colorfulcodes 4 жыл бұрын

That's before taxes. Plus he spends a lot. All of them should have rainy day funds.

@giovannataylor7598 4 жыл бұрын

I suggest selling a few of those Birkin bags to pay your laid off employees. Every little bit helps.

@MrDamienPatrick 4 жыл бұрын

Those things are hideous but he said his uneomployed are getting paid from the PPP loan.

@berrytic101 4 жыл бұрын

why would he ? he bought it with his personal money

@giovannataylor7598 4 жыл бұрын

It was a suggestion. He said he was thinking of selling them anyways. Why not give some money to your unemployed employees. Unemployment only gives you a fraction of your salary. I'm sure it could help. At the end of the say he's the owner and will do what he wants. Praying for all those affected🙏🏽

@colorfulcodes 4 жыл бұрын

They wouldn't have had employment without him. C'mon now.

@tracy_cakkes 4 жыл бұрын

Graham’s advice is being put to use 👏

@donnaallgaier-lamberti3933 3 жыл бұрын

I would like to read MORE about people living on $40,00-$50,000 a year in the Midwest (SW Michigan) This is the top salery my husband ever made....and gthis was working for 32 years at his City job in IT, printers and cellphones.

@PassiveIncomeTom 4 жыл бұрын

*I remember his video last time as well as Graham interviewing him on his show.* 😉

@Sanpedranoazul 4 жыл бұрын

Low income reviews are more down to earth, and people are humbler, thank you

@sabongtvb 4 жыл бұрын

Great for having multiple streams.

@robithevampire 4 жыл бұрын

I thought he said as long as hair's growing I'm confident the salon will bounce back

@Nucpower677 3 жыл бұрын

Just to clarify they (he/she) are from “metro Detroit”, don’t be confused with Detroit where hairdressers don’t make more than $7:50 minimum wage

@mogotrevo 4 жыл бұрын

That's quite a coincidence.. I watched that video last night and saw a comment saying there should be an update and now there is!

@momofmany9954 4 жыл бұрын

I used to work and live in the Royal oak area. I can't help but lol at his spending. His life, his choice and wish him all the success in the world. With that said, as a family of 6 including a kid with food Allergies, we are at about 200-250 a week in groceries. With 300 a week, we would be eating steak and prime rib a couple times a week.😅 Royal oak has amazing grocery store options. Holiday Market on main street, Trader Joe's on Woodward, not to mention Meijer and Kroger just a few miles away. If Whole Paycheck is more his taste, we have one of those too. There's no reason with all these options his food bill is sooo outrageous.

@MissJ000 4 жыл бұрын

He looks and sounds like that guy that sings “shoes”.

@jesuslover5968 3 жыл бұрын

LOL

@kateri17 4 жыл бұрын

He spends more on food for himself than I spend on food for myself, my husband, and our four kids. And we eat very well!

@nunyabeeswax1691 4 жыл бұрын

his everyday-life sounded like the fanciest week I could imaging(expensive eating out every meal, 2 expensive cars, expensive bags & clothes...) 🤣🤣

@grahamw2455 2 жыл бұрын

5:51 incase anyone was wondering. Those bags that he has about 7 of. They are about 20k-30k each

@elstina2736 4 жыл бұрын

I don't get how he can still get unemployment.... However, I'm European so I don't know how it works in the US. Still, I hope he gets better. He sounds like a good employer and a decent person. I'm sure this will be a good lesson for him.

@implussed 4 жыл бұрын

yeah how do you get unemployment while making thousands a month on instagram lol

@Gride9782781 4 жыл бұрын

@@implussed because unemployment is based on a steady income. You have to apply weekly, so if he made 1k this week from IG, he would have to claim that and he wouldn't get paid for that week.

@MrDamienPatrick 4 жыл бұрын

Under the new guidelines it is lost of hours and lost of wages, especially for self employed people. So he does qualify.

@MrDamienPatrick 4 жыл бұрын

@@implussed Try keeping up with then news and you would know.

@Dhdhxhh38 4 жыл бұрын

Before I watch this, I just want to say that I was introduced to him yesterday via Graham’s reaction to his MM video. I then watched his first video. After watching his video I left a comment saying I wonder how CV has impacted him. It’s crazy that literally the next day y’all post an update. Anyways, Graham had a follow up video with him where they discussed his finances and at that time he said that he was saving 7,000 monthly. This guy was very receptive to the critiques that people had about how he was spending his money, so I’m excited to hear how he has improved his finances since meeting with Graham. Edited: just watched the video. Glad he bought a home and now has investment property. It was a good decision got him to be a W-2 employee because he was able to file unemployment. He has a great attitude and I think he will come out of CV with learned life lessons. Also, he’s right about Birkin being an investment. Drake put me on that game a few years ago.

@dalizagold123 4 жыл бұрын

He needs a new financial advisor wtf

@nickmetcalfe1093 4 жыл бұрын

300 a week on food is still crazy high for one person! I spend about 40 a week on food for myself

@jiLiIsAliveAndSleepy 4 жыл бұрын

We're at 500-600 a month on groceries and household items for a family of 3 and I still feel like that is a lot... but geez 300 a week for 1 guy with a pet???

@mikeb4471 3 жыл бұрын

I feel like food takes up a lot of my income lol. We need some stimulus.

@teamscali9038 3 жыл бұрын

If you own a salon and you dont have a little kitchen area, you already messed up. This is where you bring your lunch to work. You can even get clients to bring you food if they love you!

@samlee6152 4 жыл бұрын

It'd be interesting to see follow up with him again after his business resumes to normal, to see if his financial habits change or if he's just going to revert back to how he was before.

@bilaalrawn6060 4 жыл бұрын

Are all these expenses and monthly income stated post-tax deductions? Here in UK we would be quoting any expenses post-tax deductions and presume it’s the same in the US ?

@BayAreaJessBling 4 жыл бұрын

Proud of him. Hes growing and becoming more understanding of money and investments. Good for him 💪

@sarcasm176 4 жыл бұрын

300 a week on food is still alot. but glad he's making changes

@topcomment3816 4 жыл бұрын

Fleur *She. Get it right.

@aw7474 4 жыл бұрын

Top Comment did he say he wants to be identified as a “ she “ ?

@titiscreations9554 4 жыл бұрын

hes gotta sell all the birkin bags, the gucci clothes, the chanel bags, the red bottom shoes, the BMW and he definitely needs to lower his grocery bill $300 a week is flipping insane for one person. He is definitely doing good on his instagram and his side hustle for the haircare but he needs to prioritize way better.

@without155 4 жыл бұрын

$2,500 on food, good lord.

@Hustle601 3 жыл бұрын

he is absolutely right about the Birkins being an investment. I dont have one (yet), but I have bought and resold top luxury bags and gained a pretty decent return

@implussed 4 жыл бұрын

doesn't he need to keep employees on payroll to qualify for the small business loan? also how greedy that he's taking unemployment benefits

@implussed 4 жыл бұрын

also how does he spend $300 a week on food if he's eating frozen pizzas lol. or even any groceries. i couldn't spend $300 a week on groceries if i was absolutely forced to lol

@MrDamienPatrick 4 жыл бұрын

Greedy? He paid into the system and probably more than you and lost income due to no fault of his own. How are you more special than he is?

@mayloop123 4 жыл бұрын

Stace Jau ya where is the business loan going to?

@implussed 4 жыл бұрын

@@MrDamienPatrick He is greedy because he is receiving thousands a month from Instagram posts yet takes unemployment insurance. I never said I was "more special than he is." I still have my job and thus am not filing for unemployment the way he is ;)

@MrDamienPatrick 4 жыл бұрын

@@implussed Greedy? He lost the majority of his income do to NO FAULT of his own. Under the new uneployment guidelines you are eligible for unemployment as a self employed person who has lost wages. This is HIS money he has paid into the system for years. You are just bitter he makes more money than you, that is your real problem.

@jonboy5485 4 жыл бұрын

This is one video I can’t finish

@bradd9903 3 жыл бұрын

We need part 3

@bobofthestorm 3 жыл бұрын

Kindly Update us December 2020... This guy was still overspending 2 months into quarantine. I'm curious what 9 months would do.

@maitai3539 4 жыл бұрын

If he made $280;000 for 2 years he should have a nice savings I dont understand why he's getting unemployment + the extra $600 a week for 16 weeks

@illcon4829 4 жыл бұрын

Where is Graham Stephen at?!..i need him to break this down for me

@naitcst 4 жыл бұрын

waiting for suze orman to react to this video

@TheCreoleSon89 4 жыл бұрын

She will call him girlfriend around every corner. Lol I agree though. I'm sad because I was rooting for him. Oh well.

@colorfulcodes 4 жыл бұрын

Same.

@GREENLALI 4 жыл бұрын

He doesn't deserve UNEMPLOYMENT BENEFITS, this should be considered fraud 😤

@XoxoAnnieMarie 3 жыл бұрын

lol so many people on the first video were like "what if something happens, you can't assume you'll make that income forever." well......... here we are.

@ProfessionalTycoons 4 жыл бұрын

Smart man, knows a lot about financial assets

@json8288 4 жыл бұрын

Please. Take the money from your savings to pay off your credit card debt. You are paying more in cc interest than you are making in interest in your savings account. Pay it off and make it a point to only charge what you can pay off each month.