I just got paid today, so come on my budget my $3,000 paycheck as a 23 year old.

@keysfinance

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Why it worked

The video provides high-value, transparent financial advice that is relatable to a young audience, using clear, on-screen text to make the complex information easy to digest.

Summary

A 23-year-old creator breaks down his monthly budget for a $3,000 paycheck, categorizing his fixed and variable expenses. He then explains his strategy for investing the remaining money into a Roth IRA and a taxable brokerage account.

Structure

1Introduction to the $3,000 budget
2Breakdown of fixed expenses
3Breakdown of variable expenses
4Explanation of the remaining balance
5Strategy for investing the surplus

Call to action

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On-screen text

BUDGET MY $3,000 PAYCHECK (As a 23 year old) Fixed Expenses: $500 rent 🏠 $230 car 🚗 $100 subscriptions Variable Expenses: $150 gas ⛽ $350 groceries $400 Fun Total spent: $1,730 $1,270 leftover Roth IRA $635 Taxable Brokerage $635

Original caption

How I budget my paycheck as a 23 year old. #Budgeting #paydayroutine #paycheck #budget #budgetingtips

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Transcript

I just got paid today, so come on my budget my $3,000 paycheck as a 23 year old. I'm going to be starting off with my fixed expenses. These are things that I pay for every single month and the amount that I pay every month stays the same. Starting off with my rent is $500. I just moved in with my brother. A lot cheaper than what a lot of other rents are, so I know that I'm very lucky. I highly recommend if you have the chance, live with your family for as long as you possibly can to save as much money as you can. Then I pay about $230 for my car payment every month and I pay about $100 across different subscriptions. Then moving on to my variable expenses. These are things that I spend money on every single month but the amount that I spend changes. I budget out $150 to $200 bucks a month for gas. Then I budget out about $350 for groceries and $400 for fun. Just a little budgeting hack, if someone's trying to make you a budget and they don't budget out money for fun for you to spend however you want, it's not going to be a very realistic budget and you're probably not going to stick to it. Bringing the grand total for the amount of money that I'm spending to $1,730, leaving me with $1,270 left over. Now here's what I do with that money left over. I don't just leave it sitting in a checking account doing nothing. I invest it. So what do I do? I split it up 50/50. I put half of it into a Roth IRA. This is my retirement account where I invest into ETFs, index funds. Then I put half of it, $635, into a taxable brokerage account. This is where I invest some money into more speculative stocks. I'm pretty young, I'm only 23, so I can afford to take on more risk. That's how I budget my paycheck every single month. If you guys like this kind of content, be sure to follow for more and I'll see you in the next one. Peace.