The creator, a 27-year-old business owner, provides a detailed breakdown of his $56,510 monthly revenue. He first subtracts business expenses like team payroll and sets aside 35% for taxes, arriving at his net disposable income. He then lists his personal expenditures for the month, including rent, furniture, a new iMac, insurance, food, and travel, with text overlays displaying each amount, before calculating his total remaining funds available for investment and teasing a follow-up video on his investment strategy.
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Here’s how I spent my August paycheck. My goal is to use money to build long term wealth and prepare for the future, while simultaneously still enjoying it today and that means creating experiences, making memories, improving my quality of life, and spoiling the people I love. ##personalfinance##financialliteracy##money##socialmedia##investing
Transcript
Best how I spend my $56,000 paycheck as a 27 year old who didn't grow up with a lot of money, but is now making really good money and doesn't wanna fuck it up. The goal is to build long term wealth while still understanding that I could die tomorrow, so it's important to enjoy your money. Let's get into it. So in the month of August, my business being social media generated a total revenue of $56,510, but I don't get to keep all that. Worst, I need to pay my team. I pay them $6,600, leaving me with $49,910. But still, we then have to pay uncle Sam for our taxes. So I'm setting aside about 35% in a HyoYo savings account. $17,468.50 goes to taxes, leaving me with $32,441.50 to spend. On rent for this two bed, two bath unit, I best $3,300. Then to furnish my apartment, I spent an additional $2,700. Furniture is no expensive, but I absolutely love decorating my place. First time living alone, so I have them splurging a little bit. Then on my new iMac, I spent $1,820. Then we have insurance. I spent a $125 on my car insurance rank $285 on my health insurance. On food, including groceries, Tier Eats, eating out, I spent a total of $1,612. On travel, I spent $897. Some was for work. I went to LA and New York. And then for fun for my 20 birthday, I took a cruise. Gym, $350. I'm so excited to cancel my Equinox membership next month. Business expenses, $525. That also includes reoccurring subscriptions. Shopping, $82. And that brings my total to $11,699, leaving me with $20,745 left to best, and I'm gonna show you exactly what I'm investing in in tomorrow's video. Base.