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Impulsivity is the number one reason people are in debt.. people feel they also ‘deserve’ what they want. They have no concept of sacrifice to get ahead.

It's true!

It used to be no more than 30%.

I think she was talking about ALL housing expenses including utilities. I think most people's expenses that are in the needs are way over 60%, which is why people are living paycheck to paycheck these days. They barely make enough to cover their monthly bills.

Yeah, if we're including other costs, like maintenance costs, that's understandable. Especially in older houses.

That's because they are all well paid!

less kids = more $ less subscriptions = more $

​...kids are megabucks!

= More spending (for most Americans)

Then explain why a lot of nurses, doctors etc are also broke? America doesn’t have an income problem. They have a discipline and spending problem.

@@lionessrising facts!

Yeah, but that's not realistic for most people unless they make a lot of money.

​, Working retail (not a high income paying job) I still put money in a 401k and Roth IRA it's about priorities. I've been shopping in thrift stores and garage sales for clothing and as much household items as I can find buy markdown meat and other markdown food and non-food items. A few dollars here and a few dollars there adds up

@@vickieclark5931 I also think living in the midwest helps. I live very frugally approximately 1000-1200 per month. This pays for everything including rent. This leaves me to have a high savings rate. Even if you would have a low income with this these expenses it would still lead to a pretty high savings rate. Once I save 25-30x my expenses I plan to ease of the gas a little.

@@debbieframpton3857 I totally agree with you. That cheap 5 dollar coffee is actually $35 per week. some people don't realize that. My personal favorite for myself was getting visible wireless. it serves as my internet and phone and its only $23 month if paid annually. This has saved me hundreds of dollars over the years. Also getting a cash management account from fidelity (basically a checking account that gives you interest 2.7%) and a high interest ally savings account 4.6% (which allows you to pay off 10 items, like credit cards, per month). literally free free money in my pocket for having money sitting in checking/savings accounts. Getting a new credit card every 6 months is something else I like to do as well. if you spend say $1000 in 3 months many of them give you 200-300 for doing that. always pay everything in full when it comes due and no worries. I just spend money on things I normally would buy. and no subscriptions, absolutely hate those. leach on finances. I could go on...lol Just doing these things gives me approximately 1000-2000 extra per year for basically doing nothing.

@@debbieframpton3857 it looks like my previous comment was removed for some odd reason. but in short i agree :)

I agree.

I think most of these tic tok people just want their 15 minutes of fame crying about rent and other things when they have 1400 car payments.