BUDGETING MY FIRST PAYCHECK

@vardy.mp4

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Why it worked

The video provides a transparent and relatable look into personal finance management for a young individual in a high-cost-of-living city, appealing to viewers interested in budgeting, investing, and career advice.

Summary

A 19-year-old startup intern in NYC details how they budgeted their first paycheck of $6,886. They allocated funds for investments, personal expenses, travel, side hustles, and personal projects, leaving a portion for discretionary spending.

Structure

1Introduction and income statement
2Investment allocation
3Personal expenses and travel fund
4Side hustles and personal projects
5Discretionary spending and planned purchase
6Reflection on first paycheck budget

Call to action

comment if you want more stuff on investing/personal finance!

On-screen text

BUDGETING MY FIRST PAYCHECK 19 y/o startup intern living in NYC Take-home: $6886 Investing: $3443 Personal expenses: $700 Travel: $500 Side hustles: $1200 Fuck around: $1043 Jersey

Original caption

day 51 - budget my first months’ paychecks with me comment if you want more stuff on investing/personal finance! #internlife #PersonalFinance #nyc #collegestudent #techintern

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Transcript

I just got my paycheck for the month of July. So it's budgeting my first paycheck for the month of July. I'm a 19-year-old startup intern working in New York. Last month I made $6,886 after tax plus other income streams. I immediately set 50% of this off to the side to invest in stocks and other ETFs. I then allocate $700 for personal expenses, which includes groceries and transportation. Another $500 goes into a travel account, which I use for trips back home to Dallas. I'm also planning a trip to San Francisco sometime this month, so that'll come in handy for that too. I'll then invest another $1200 into growing and scaling personal ventures and projects. This includes subscriptions to chat and covers the integrations and ads. This leaves me with $1,043 of what I like to call fuck around money. I can spend this however I please. Poker buys nice sweaters, whatever I want. My next purchase will probably be a Tom Brady jersey since I've never gotten one in blue before. Now, this is the first time I've ever budgeted a paycheck. This is the first time I've ever actually been employed. I think sharing how I manage my own personal will foster an environment that promotes greater overall financial literacy, which I think is a great thing. So follow along to understand how and stay tuned to see how my next paycheck.