SOSCAST with Adam Sosnick SOSCAST | EP 5 | How To Keep Your Money
Feb 9, 2022
Dive into the world of financial awareness where high earners surprisingly navigate paycheck-to-paycheck living. Discover the joys and pitfalls of spending habits, reinforced by personal anecdotes and humor. Explore the peculiarities of 'drunk trading' among Gen Z and learn invaluable lessons about investment strategies, particularly in the realm of cryptocurrency. Plus, get practical tips on managing finances in relationships, balancing communication, and fostering goodwill. It's all about mastering the art of financial wellness!
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Lifestyle Creep Drains Income
- Forty percent of Americans making $100K+ live paycheck to paycheck.
- Lifestyle creep makes luxuries feel like necessities as income grows.
Delay Spending After Raise
- When receiving a raise, act like you didn’t get it for six months.
- This prevents impulsive spending and helps you make better financial decisions.
Holding Back Lifestyle Upgrades
- Adam Sosnick made $100K at 27 but kept living with roommates.
- He saved money instead of upgrading his lifestyle immediately.