$20,790 paycheck

@zachtalksalot

51.2K followers · usually 5.9K views a post

Views

46.2K

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3.6K

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SoundTikTok sound · original sound - zachtalksalot

Why it worked

The video likely resonated with viewers due to its relatable topic of personal finance and budgeting, especially from a young person's perspective. The high paycheck amount, while presented as a success story, also serves as a hook, encouraging viewers to watch and learn how such financial management is achieved. The detailed breakdown of expenses and investments provides practical insights that viewers can apply to their own financial planning.

Summary

A 20-year-old college student breaks down their $20,790 paycheck, detailing how they allocate funds towards investments, a car payment, personal expenses like sunglasses and concert tickets, and other miscellaneous costs. After all expenses and investments, they are left with $14,390.

Structure

1Introduction of paycheck amount and purpose of video
2Breakdown of investments (ETFs, Roth IRA)
3Major expenses (car payment, sunglasses, concert tickets, gas, dryer)
4Discretionary spending (eating out, dentist, subscriptions, miscellaneous)
5Final remaining amount and reflection

Product placement

The video mentions various investments like VOO, QQQM, and VTI ETFs, and a Roth IRA. It also lists expenses such as a car payment, sunglasses, concert tickets, gas, a dryer, eating out, dentist visit, and subscriptions (iCloud, Spotify, gym membership). No specific product is being promoted or sold.

On-screen text

$20,790 paycheck (How I spend, invest, and budget my paycheck) Investments: $3,500 Roth IRA: $625 Car Payment: $500 Sunglasses: $300 Concert Tickets: $365 Gas: $165 Dryer: $200 Eating out: $350 Dentist: $100 Subscriptions: $95 Miscellaneous: $200 $14,390

Original caption

Let's spend and budget my paycheck for the month of April. #20yearsold #savingmoney #finance #payday #Budgeting

More from @zachtalksalot

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Transcript

I just got paid so let's go ahead and break down exactly how I spend, invest, and budget my paycheck. I'm a 20-year-old who's still in college. And before we get into it, this is not a normal month for me. This was a great month for the business. I got paid for my managing stipend, along with making some money on TikTok as well. And also keep in mind that this is not to brag, this is just to educate y'all financially so you can see what a financial responsible 20-year-old does with their money. So the amount I hit my account was $20,790, which saying out loud is absolutely crazy and beyond me. I like to believe I'm a pretty aggressive investor, so $3,500, these my account every single month. It goes into various ETFs like VOO, QQQM, along with VTI. $625 also leaves my account every single month and goes into my Roth IRA. I did buy a car last year, so that's $500 that immediately leaves my account. I usually never do this, but I decided to spoil myself and get myself a new pair of sunglasses. The original price was $550, but after my insurance is only $300, so I really can't complain. I have never been to a concert, but I'm going to a Daniel Caesar concert later this year and the tickets were $365. With gas prices being a little higher here in California, I spent $165 on gas this month. Our dryer broke this month, so I pitched in with $200. I spent $350 on food this month and eating out, which is way over my budget. I think I was just working a lot and didn't realize how much I was really eating out. I went to the dentist for the first time in like three years and paid $100. For all of my subscriptions, it came out to $95. This is iCloud storage, Spotify, and my gym membership. I spent $200 on miscellaneous. I went to the movies, I went to an arcade, and for the first time in a couple months, I bought myself some clothes, which is a very first for me. So after all my spending and investing on, I'm left with $14,390, which is absolutely crazy. If you told me three, four years ago, I would be making this much in a single month, I would call you crazy. But here we are, and I'm super grateful and blessed to be in the position that I'm in.