does it seem like everyone has money but you it might seem like your friends co-workers and family members are all earning plenty to pay all their bills and still be able to afford door Dash Every Day concert tickets going on vacation and other luxuries that are a far reach from a normal budget sure there are people struggling but those who have comparable incomes and expenses to you seem to be getting by just fine whereas you're scrutinizing your grocery budget and barely keeping up with the rising cost of living why is that are they they actually
that much better off than you let's take a look at why it seems like they don't have a care in the world some of the reasons are eye openening my name is Chris and I help teach people about money personal finance and investing if you're interested in improving your financial future make sure to subscribe to the channel and hit the like button if this video is helpful accepting credit card debt is more prevalent than one might assume according to bank rate approximately onethird of Americans maintain credit card balances in a considerable number of people are
unfazed by it they just don't care about credit card debt it's almost as if the charges they acrew on their credit cards are perceived as free money that requires no eventual repayment not everyone is uncomfortable with the idea of being saddled with credit card debt with many people finding it completely acceptable if they can just pay the minimum payment every month unfortunately with interest rates commonly between 20 and 30% this means it will take many years to pay the balance in full this code coincides with the live for today mentality but what happens when the
minimum payments become too much to handle and the monthly interest is draining your budget just because some people are perfectly comfortable with stacking more and more debt each month doesn't mean they're doing well despite what it looks like from the outside it might seem like your co-workers are doing much better than you financially with seemingly few cares about money but do you know how they spend their time outside of the workplace are they partying traveling and shopping like they're that well off how could they possibly do all that when they're on a similar pay scale
to yourself while their 9-5 income might be comparable to yours that doesn't mean it's their only income Source a study by bank rate found that a surprising 39% of Americans have a side hustle earning an average of $800 per month only a fraction of those people with a side hustle actually need the money for their everyday expenses while it might appear that all they do is party consider that they might be heading home from the office only to Begin work in another form it's a common reality that everyone sacrifices something in their life to establish
and sustain their circumstances consider someone in your Social Circle who frequently travels with what appears to be an endless budget chances are they are dedicating the majority of their finances to travel and you may not be aware that they skimp on clothing expenses for example conversely you might know someone with a wardrobe resembling that of a model yet they refrain from traveling altogether another individual might have recently invested in a stunning home but what might not be evident is that they are now financially strained with limited resources for other activities and carrying a heavy financial
burden our tendency is to fixate on others possessions rather than their sacrifices it's crucial to recognize that in most instances people are making trade-offs just like the rest of us they are broke even though it doesn't look like it and what you see is just what they want you to see in many cases people are putting up a facade in order to feel better about themselves by keeping their level of spend high enough so that they feel successful the definition of success is how much money you can waste right what you don't see is their
empty bank accounts suffering retirement accounts credit card statements and other debts you don't see their arguments with spouses or their sleepless nights people tend to share only the high points of their lives on social media if you form your opinions based on these posts it can give you a distorted view they might showcase vacations new cars and fabulous times but that doesn't paint the full whole picture of their life so even though they seem to be happy and careless around you that's not necessarily the real deal no one is going to flaunt their struggles on
social media or their co-workers they're going to keep it quiet as a result you're only seeing their positives but rest assured not every aspect of their life is glamorous those who appear to be thriving financially flaunting flashy items in an air of care-free living might actually be facing the opposite reality it's a surprising truth that the appearance of wealth can often mask Financial struggles this phenomenon transcends income levels revealing that even those who seem to be rolling in wealth May in fact be far from financially secure the illusion of affluence can be deceiving as some
individuals despite their outward appearance of prosperity may be living paycheck to paycheck their extravagant lifestyle might not be sustainable with little to no contributions to savings or Investments instead of saving and investing a portion of their income every month like they should be doing in order to make Financial progress most or all of their income is likely consumed by debt payments in keeping up their high-end appearance in order to come off as successful to others instead of assuming just because someone looks Rich that they automatically are consider the fact that they may just be keeping
up that look at the cost of their financial stability it's important to recognize that everyone started their Journey with unique circumstances some individuals receive substantial support from their parents enjoying the privilege of having their entire College expenses covered on the contrary others exercised extreme frugality in choosing their educational path opting for the most cost-effective options or working tirelessly even during nights and weekends to graduate without accumulating debt certain people choose alternative routes bypassing College altogether and pursuing less glamorous but economically viable careers that require a minimal initial investment some took bold risks by venturing into
entrepreneurship While others deliberately opted for lower tier jobs with minimal prerequisites to keep their costs as low as possible entering the job market at an opportune time also played a role for some contributing to their current standing despite appearances of a Level Playing Field the diverse path people took to reach this point are anything but uniform the differences in everyone's Journey highlights how important it is to recognize the diverse paths that people took to end up where they are now real wealth is silent those who are flashy and boastful may seem Rich because of their
extravagant Behavior but truly wealthy individuals don't feel the need to flaunt it they're fully aware of their prosperity and success finding little value in spending or talking a big game just to impress others those with substantial wealth prefer to remain discreet avoiding unnecessary attention when you encounter someone showcasing their money it's worth questioning if they're really as wealthy as they portray or if it's simply a performance more often than than not it's just for show and they could very well be worse off financially than yourself everyone's circumstances are different so don't take everything at face
value direct your attention to what you can control and strive to make the best choices within your own confines make it a priority to consistently save and invest a portion of your income which not only provides Financial Security but also lays the groundwork for future success practice smart earning and spending Behavior building up these habits really helps lay down a strong financial base it's all about making choices that match your long-term goals not just looking successful on the outside focus on the sustainable practices that contribute to your financial well-being embrace the Journey of saving and
investing and let it be a steady consistent effort by doing so you're not just building the appearance of financial success you're actively constructing a sturdy and resilient financial future remember it's not a one- siiz fits-all scenario in the path to Financial success is Uniquely Yours
