Suze Orman Reacts: Living On $80K A Year In L.A. | Millennial Money
Personal finance expert Suze Orman wants Wendy Gonzalez to think bigger when it comes to her money goals. The Los Angeles-based millennial earns $80,000 a year working as a logistics supervisor for an auto tech company and eventually wants to make $95,000.
“Why limit yourself to $95,000 a year?” Orman asks, reacting to CNBC Make It’s Millennial Money episode that features Gonzalez.
Orman also wishes the millennial hadn’t splurged on a BMW, which sets her back $720 a month. In addition to the car payment, Gonzalez spends about $90 on gas, putting her monthly transportation costs at $810. “What you deserve is a life of financial independence, not some car,” Orman says.
There is good news: “She’s saving money, she’s working ... and she’s making coffee at home,” says Orman, who thinks that buying coffee is like “peeing $1 million down the drain.” Gonzalez sets aside about $1,000 a month. She saves in a Roth IRA, high-yield savings account and a brokerage account. Gonzalez has around $25,000 saved in a high-yield savings account, which she has earmarked for a down payment one day.
Watch Orman’s full reaction to Gonzalez’s spending and savings habits.
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Suze Orman Reacts: Living On $80K A Year In LA | Millennial Money
Видео Suze Orman Reacts: Living On $80K A Year In L.A. | Millennial Money канала CNBC Make It
“Why limit yourself to $95,000 a year?” Orman asks, reacting to CNBC Make It’s Millennial Money episode that features Gonzalez.
Orman also wishes the millennial hadn’t splurged on a BMW, which sets her back $720 a month. In addition to the car payment, Gonzalez spends about $90 on gas, putting her monthly transportation costs at $810. “What you deserve is a life of financial independence, not some car,” Orman says.
There is good news: “She’s saving money, she’s working ... and she’s making coffee at home,” says Orman, who thinks that buying coffee is like “peeing $1 million down the drain.” Gonzalez sets aside about $1,000 a month. She saves in a Roth IRA, high-yield savings account and a brokerage account. Gonzalez has around $25,000 saved in a high-yield savings account, which she has earmarked for a down payment one day.
Watch Orman’s full reaction to Gonzalez’s spending and savings habits.
» Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates: https://www.cnbc.com/make-it
Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt
Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt
Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt
#CNBC
#CNBCMakeIt
#MillennialMoney
Suze Orman Reacts: Living On $80K A Year In LA | Millennial Money
Видео Suze Orman Reacts: Living On $80K A Year In L.A. | Millennial Money канала CNBC Make It
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