4 DEAD SIMPLE NUMBERS That Tell You What You Actually Make

@mastermoneyco

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Why it worked

The video provides practical, actionable financial advice that is easy to understand and apply, addressing a common pain point for many individuals seeking to understand their true earning potential.

Summary

The video explains four simple calculations to determine one's true take-home pay and hourly wage after taxes and other factors. It aims to provide a more realistic understanding of earnings by factoring in taxes, commute time, and other hidden costs.

Structure

1Calculate after-tax salary
2Calculate real hourly wage
3Calculate after-tax hourly wage
4Calculate total time commitment
5Determine true hourly value

Call to action

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On-screen text

4 DEAD SIMPLE NUMBERS That Tell You What You Actually Make 1. $72,000 2. 3. 4. TAKE YOUR SALARY BY 0.7 1. $50,400 2. 3. 4. AFTER TAXES 2. $72,000/2000 BY 2000 2. $36/hr THAT'S YOUR REAL HOURLY WAGE 3. $36 TAKE YOUR HOURLY WAGE AND MULTIPLY 3. $36*0.07 IT BY 0.7 3. $25.20/hr THAT'S YOUR AFTER TAX HOURLY WAGE 4. 40 + 10 = 50 USE THIS NUMBER WHEN DECIDING IF SOMETHING IS WORTH WORK HOURS AND ADD YOUR COMMUTE THEN DIVIDE YOUR PAYCHECK BY THAT 4. $1,385 / 50 4. $27.70/hr MOST PEOPLE MAKE 20% LESS PER HOUR THAN THEY ACTUALLY THINK FOLLOW FOR MORE PERSONAL FINANCE INVESTING AND WEALTH BUILDING TIPS

Original caption

Four dead simple ways to figure out what you actually make!

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Transcript

Take your salary and multiply it by 0.7. That's roughly what you take home after taxes. Take your salary and divide it by 2000. That's your real hourly wage. Take your hourly wage and multiply it by 0.7. That's your after-tax hourly wage. 40 plus 10 equals 50. Use this number when deciding if something is worth it. Take your weekly work hours and add your commute, then divide your paycheck by that. Most people make 20% less per hour than they actually think. Follow for more personal finance investing and wealth building tips.