Dylan VanasFounder & 2x 8-Figure Entrepreneur Empowering Growth

This is how you can fix your spending problem 💸

Name: This is how you can fix your spending problem 💸
Uploaded: 2023-03-13T19:08:23+00:00
Duration: 39 s
Channel: Dylan Vanas
Description: Dylan Vanas suggests reframing purchases by time cost instead of just money. A $200 night out on a $60,000 salary is 0.5% of after-tax income. Do that…

13 Mar 2023 · 1 min

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0:39

Dylan Vanas suggests reframing purchases by time cost instead of just money. A $200 night out on a $60,000 salary is 0.5% of after-tax income. Do that monthly and you're spending 6% of the year's take-home on one habit.

Questions this video answers

$60,000 per year ("make 60 grand a year after taxes")

About $35,000–$40,000 ("you're going to be left with like 35, $40,000")

About 0.5% ("divide 200 by 40,000, that's about half of a percent")

About 6% ("if you do that every month, you're going to end up spending 6% of your after tax income")

Chapters

If you have a spending problem, here's how you can fix it. Let's say you make 60 grand a year after taxes, you're going to be left with like 35, $40,000. Now, hypothetically, if you're going to go out with friends and you're going to go get drinks, you're going to get food, you're going to go get drunk and have a good time, and you spend like 200 bucks. Well, if you divide 200 by 40,000, that's about half of a percent of your after tax income. Now. Now, if you do that every month, you're going to end up spending 6% of your after tax income on getting drunk once a month with your buddies. So if you have a spending issue, stop thinking about money just as money and start thinking about it as your time.