How To Budget Your Paycheck (Do This When You Get Paid)

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Title	:	How To Budget Your Paycheck (Do This When You Get Paid)
Lasting	:	12.17
Date of publication	:
Views	:	127 rb

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Comment from : Marko - WhiteBoard Finance

The idea of investing a significant sum of money may be both thrilling and intimidating There is potential for considerable wealth increase with the correct strategy How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
Comment from : Bill

Where should I put money that I want to invest in myself? br A savings account takes too long to transfer to an external account when I'm ready to use it and a normal checking account gets mixed up with all my other expenses
Comment from : Abner Louis Charles

I began my investment journey at the age of 33, primarily through hard work and dedication Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time This success reinforces the importance of the advice mentioned earlier It is not about achieving quick wealth, but rather ensuring long-term financial prosperity
Comment from : Julie Hyde

1) Never had retirement offered at work in 25 years Same for many people in my industry 2) No debt because nobody would give us credit as many are illegals or earn too little 3) Money saved usually is sent to family abroad Seems like buying or building a house for family is the thing to do 4) No investments or Roth because many can't open such accounts in US and don't trust banks back at home 5) Again, none of those accounts for many If any, many lose money cashing their checks every Friday as they don't have bank accounts I live in parallel universe, which is fine I maybe the only person from our universe watching those videos
Comment from : A R

I make about 50k a year, and recently pushed my savings rate all the way up to 30 I was able to do this through living abroad for 330 days a year and working for a foreign company This wipes out my federal income taxes through something called the foreign earned income exemption, which covers up to 120k of income Something to think about if you're keen to live overseas :)
Comment from : Magnus Ruben

Where does social security go in? Is it part of savings?
Comment from : Eliseo Carrillo

Insightful video I just want to know best how people split their pay, how much of it goes into savings, spendings or investments I'm 27, and earn nothing less $150k per year, but nothing to show for it yet
Comment from : Gilbert Gagnepain

It really made no sense to me when he said ''It doesn't matter whether I'm right or wrong, whether the market goes up and down I'm good regardless'' People are really losing a sh*t ton of money out here I personally have been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months Its tough out here!
Comment from : Sherry Brooks

New subbie here! Great info!
Comment from : Submit To The Plan

Hey marko what’s your opinion on using acorn
Comment from : Eli mijares

Very informative & I found it very helpful 👍
Comment from : Budgets with ELMA

Should you still invest your emergency fund, like in low risk, high liquidity investments? So you are still earning?
Comment from : Brodo Fraggins

If everyone just watched this 12ish minutes and took it to heart, it would completely change their life Of course, it's all more easily said than done, but it truly is not a complicated concept Just needs to be understood and followed Fantastic content as always, Marko Love the bucket strategy 👏
Comment from : Nathan Edwards

Sir i am writing an english book for high school and one of the topic is financial literacybrCould you allow me to use your videos for the class discussion about low wages and budgetingbrTqbrGbu
Comment from : Moe Muslih

So many bots it's hard to tell the real comments from the fake
Comment from : floydland

Great video Question: what camera and mic are you using? I do remote work at times and certainly would help me do a proper set-up Thanks
Comment from : Noah C

Aren't monthly expenses, like mortgage, a bucket?
Comment from : Yamamoto San

Marko with the car taste 911 Turbo S😮‍💨😮‍💨
Comment from : Tyler Aguilar

Keeping this to myself isn't a good idea, I decided to tell everyone so you guys can all benefit from this People keep talking about Stacy Griffin but I never knew how her software works until she show me, I will forever be grateful for her strategies of making big profits
Comment from : Olivia Ralston

step number 1 is making enough money to do all these things
Comment from : janelli Nell

It's all about optimization 👌💰📈
Comment from : Should I Invest or Not?

Great video I use the 50-15-35 rule live expenses-fun $-savings
Comment from : J Van

Pay your bills, pay yourself, spend on things you really, really want or will improve your families lives tremendously
Comment from : PapaPickett

I love how you keep it direct and simple
Comment from : Royalist Kelly Jones

This video is contingent on what type of salary? Cause I was broke after the 2nd step lol
Comment from : Ernesto Colon

👆👆👆
Comment from : Ken McElroy

Thank you
Comment from : Mitya

For the 15 recommend net income into retirement on step 4 does that include the money you are already contributing pre-tax on step 1? or another 15 after that?
Comment from : Ian Raymond

You’re like a modern-day Dave ramsey I love Dave but disagree with probably 20 of everything he says but agree with pretty much everything you say
Comment from : Arlen Balagot

What about low interest debt?
Comment from : Oceansky

Hi! Thanks for great videos!brA question about this one How/where do you save "each bucket" funds? For example, if you put $300 away each month in the "Travel bucket", where do you put this money? - I assume Not in mattresses, not in a saving accounts, not in a checking accounts I assume you should put them in some better type of saving place with better ROI Can you give suggestions for each bucket?
Comment from : Soren Lundgren

I paid myself first and invested in low cost index funds Spent the rest Save and invest at least 20 of your pay if you want a decent retirement I know about this when I was in my early 20s and practiced it with discipline Most of today's young people are clueless and will only realize what they should have done when it's too late
Comment from : Adrian Nenu

I got this idea after reading Money Master The Game by Tony Robbins Every dollar I make is split into a particular purpose If I want a new car create a new envelope If i want a house envelope Instead of the envelope method I did this with savings accounts It was a game changer For instance if you have $250 that you put aside consistently for 5 years that’s $15,000, 10 years that’s $30,000 Ten years sounds like a long time but it’s been over 10 years since I was in undergrad That $30k can be used to purchase a property or other investments which you can grow I feel most people can at least put $250 away
Comment from : A E

I am saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA I have a high paying engineering job, and I live upstate NYC my expenses are low I have zero debt, low rent and car truck paid off So i can just save feel lucky at this point I'm actually grateful for my advisor handling my portfolio
Comment from : WalterD Lawson

10:06 I feel called out here I only have 10k in my "new car" budget, but I've been browsing car listings for 911 Turbo S, M4, GTR etc LOL
Comment from : Beef Broth

How about people that are living pay check to paycheck??? You only talking about people that are making over 60gradn a year, how about poor ppl
Comment from : Laura Feliciano

Gosh you already have your marker bucket ready lol
Comment from : BabyChewbacca

Hey Marko I had a question for you about the 401k match My employer does offer a match but the match is 25 of any contribution That being the case how much would you recommend putting into my 401k Thank you
Comment from : Nicolas Lugo

What if my job doesn't offer a 401K?
Comment from : Old_Lem

Marko Haha this video got hilarious with all your buckets There’s a HUGE percentage of folks that can’t even pay they’re rent, utilities and food Haha can’t put a penny in any bucket lol Thank god that’s not me We make 160/200k so I find it very helpful haha
Comment from : Kyle Anderson

God bless you Instead of giving advice on how to tie nooses and game life insurance, you're fighting for goodbrbrI say this as an agnostic who hasn't seen the entire video yet My advice may be susbrbrJust doing my part for Al Gore's Rhythm
Comment from : Sens Sword

Great video, my debt has finally made me want to do something about it 13 months ago I realized that I had money going out to way too many companies with loans and credit cards and decided to put my savings on hold and payoff all the debt I own except for one car payment In August 2023 I will finally achieve this It's been a struggle putting so much money each month into this debt, but the reward had been far greater In the end I will have the financial freedom that I should have had decades ago I've been able to pay down $81k of debt over the last 13 months and have another $65k to go I have used the snowball method to achieve all of this
Comment from : Ronald Bussard

I love this video
Comment from : JERmTV

20k ISO20022 coins rich before age 60
Comment from : Scrappy ChildHood

Roth IRA is now at $6,500 max No?
Comment from : Juan Vera

👍👍
Comment from : Tenebrae

Sounds great but what about us who live pay check to pay check and don’t make $100k a year?
Comment from : Michael W

Great video! No random arrogant, sarcastic remarks like these newer videos Just great information and a great presentation like your old videos used to be More of this! 👍
Comment from : paulcandle10

Great video! Sharing it!
Comment from : DougZ

Its too late for me, but i will definitely be showing this to my Nieces , Nephews, future children
Comment from : dapras

Good video for finance
Comment from : Luis Barojas

Hey Marlo how do you open a IRA ?
Comment from : Shottie7390

I made my first million from trading stocks as a newbie, with the help of an expert who handles my trades I met him at a trading conference in NJ and he accepted to trade for me and ever since I have had no cause to regret because I am financially free
Comment from : Margarita Honn

I personally don't worship money However being debt free is biblical, and smart
Comment from : Arianne

Thank you Marko! Can't wait for school to start
Comment from : Johnattan Lafontant

I'm a military barracks rat I put 20 of my paycheck into the "future needs fund" 60-70 is being invested in some capacity (most of it being VTI in my Roth) The remaining 10-20 is what I live off ofbrbrI also do food delivery when I'm off duty and 80 of that is also being invested into I Bonds and SCHD to build up another income stream
Comment from : David Gerstein

With so much joy in my heart I can boldly recommend anyone to KimberlyAlma I made $400,000 profits with her trading platform I was skeptical at first but I decided to try trading with her as directed by my colleague I’m so happy right now and I can say she is the best She made my dreams comes true after I got my profits
Comment from : LARA TRADER

Dave Ramsey? Really? 😬
Comment from : Jane K

@grantcardone 💗
Comment from : Tamara Nichole Francis# I love design

Step 5 is the only important thing in this video the rest is mainly just opinionated
Comment from : Leclaud services

If one of your buckets/investments isn't crypto, you're doing it wrong :D good luck doing the old school financial routine while the world rapidly changes around you You are not btruly/b prepared
Comment from : Dogald Trump

Porche 911 turboooooooooo 😉
Comment from : Place Holder

Question,I work with my LLC,I max out my Roth ira every year but it's not 15 of my salaryif I'm getting pay under the books,mostly cash,should I be contributing to an sep ira or just put money into a brokage account? since I'm really not benefiting much if nothing at all from a tax deferred ira
Comment from : Angel Uceta

One of your buckets is just invested in markers lol
Comment from : Theo

Isnt there a max amount u can make per year before you can contribute to a roth ira?
Comment from : ZOHCOLD

Hi Marko! For step 4, you say to contribute 15 net income to retirement - does this include employer contributions? Eg if my employer contributes 8 of my salary, should I only contribute 7 to get to 15 or 15 in addition to the employers 85?
Comment from : Kyle Aebischer

I was just explaining this to my mom this morning thank you for making this video!!
Comment from : Asiana

this video definitely opened up my mind / eyes , each step is very important ! thank you for this knowledge
Comment from : Hector Bonilla

My biggest outtake that has etched itself in my memory is that time (a few years ago) when you butchered the pronunciation of “gyros”brbrCan you use it in the next video?
Comment from : Brendan Kacev

Hey Marko, I live in Australia, what would my options be for an employer-matched savings account?
Comment from : Luke Pev

In my country we don't have a match but a country subsidy of 15 on a very tiny ammount (up to 666$ max in a year) if you even chose to save For me, that's bullshit help
Comment from : Ivan B

Home run!!!!👏🏿👏🏿👏🏿👏🏿 Love this video!!!
Comment from : Shana Robinson

This is good stuff We have a couple years of cash to spend down while we invest 100 percent of our income No liabilities and we’ve netted 6x our annual expenses so far in 2022 while maxing out all Roth and HSA options For us it’s been about cash flow (Gen X) so eliminating fixed asset costs was a priority in 2021 (paid off primary residence and bought two new vehicles with cash) Filling up the buckets is a focus now
Comment from : Financially Free Finally

Hello brI am new in investingbrAnd my question is if I buy shares in wibull do I own those shares or I am buying to trade Only?
Comment from : gustavo garcia

I come for the markers at the end of the video Marko !
Comment from : Nahmed Nissar

What’s the play to earn a yield on your emergency fund? I’m thinking around 3-8
Comment from : Justin Jones | Realtor

Always a joke at the endbrClever :)
Comment from : Markus Hochstaffl

This man is a goof sent some random Indonesian girl to reccomend his channel with a trojan virus to get all your info that's how he "gets rich" watch out for this scammer
Comment from : Christian Castro

Would you use something like m1 finance for some of the bigger buckets?
Comment from : Adrian Hummel

The steps seem to have skipped a critical part of personal finance and that is paying living expenses such as home, food, utilities, phone + wifi, personal hygiene, home goods (light bulbs, trash bags, etc) Shouldn’t budgeting those be step 2 altering paying yourself, and maybe even charitable donations?
Comment from : Spencer Harris

Why would you pay down debt in highest interest first over snow ball starting with smallest balance?
Comment from : Spencer Harris

My Roth 401k is down 18 in the past 12 months Why should I keep investing in a losing program instead of stock piling the cash for RE investment, which is showing a stronger rate of return?
Comment from : Spencer Harris

Inflation is killing us Powell is too slow My Home insurance yearly renewal last year was $876 they bumped it to $1543 I thought it must be mistake I called n they told me that due to high Inflation cost of materials and rebuilding the home has considerably gone up I took some quotes they all are coming above $1800 Only 3 to 4 years back I used to pay $550 per year for same home insurance with Mercury insurance for yearsbrbrNow my auto insurance and semi truck insurance all got almost doubled too due to shortage of parts and parts being so expensivebrbr brbrIf Powell doesn’t get aggressive inflation will start soaring back again Let stocks fall so I can buy aggressively Normal Americans spend most of their pay checks on rent , gas and groceries and all r still high rocketing What normal Americans have to do with airfares , hotel prices coming down My groceries bills r so high nothing has changed since Jan this year in totality Little price fluctuations don’t matter
Comment from : Cali Boy

A Toyota Yaris 🤣 That’s why I love Marko
Comment from : DJ_KCZ

My check only allows me to do half of the list
Comment from : D-T_214

Currently my paychecks go into a local bank Can anyone recommend a national or online bank with automatic saving buckets or money market accounts? Thanks
Comment from : Nic Dulmes

Incredible thanks
Comment from : Jesse Brazil

A few of my jobs, they matched up to a certain amount, but you can't pull their part out unless you're there for over 5 years Which is ridiculous lol So pretty much you just get your own money in the end
Comment from : Tommy

I’d flip the beginning steps to 2, 3, 1,
Comment from : Jesseg0815

Shout out to the money guy show FOO!
Comment from : Ross Reynolds

I kind of feel sorry for Americans because you have to do so much economic planning just because you don't get anything from the state I could imagine lesser educated people would find this very daunting and difficult to do
Comment from : LouieGrind

Started watching this over pandemic in 2020, made a big difference to my lifebrThanks Marko!
Comment from : Mark Withers

911 turbo let’s gooo (in like 30 years)
Comment from : Paul Flores

My company doesn’t offer any 401k or any matching Working as a server at a restaurant and i get paid mainly in tips What do you recommend for step 1? Thanks
Comment from : Esteban Gutierrez

Can you go on grahams podcast and squash the beef
Comment from : JoshTC2

Awesome Thank you!
Comment from : Summer Hayes

My 18-year-old is building his credit and socking away money for a house He's killin' it so far I shared this with him Great content as usual Thanks
Comment from : Xequalswhat