😤 Uber Doesn’t Pay Well | Costs Of Living

😤 Uber Doesn’t Pay Well | Costs Of Living

This video is going to be a little different  I wanted to have a conversation about cost of   living now a lot of people don’t realize how much  drivers make or don’t make yet we’re considered   independent contractors with our own business  and many business owners out there know if you  

Running your own business you need profits in  order to live on because if you’re not making   a living I mean you’re not going to be able  to afford to cost a living Uber and lift they   always talking about well we need to know what  driver’s expenses are many of my you know videos  

You’ll hear me talk even on my live streams I’m  always talking about well if they want to know   how our expenses are just talk to somebody in a  cubicle just walk up hey hey Britney how much is  

Your cost of living you know what and that’s a  driver cuz we all living in the same cities we   all doing the same thing just trying to make  a living so if you’re trying to put us at an  

Employee rate but yet got us doing independent  contractor things like paying for our own car   paying for our own car insurance full coverage  paying for our own fuel our own repairs that adds   to our cost of living when we beating these  cars up now I got videos about to drop right  

After this kind of showing you what it cost to  live in Phoenix not only that I got another one   saying what it cost to live in Minneapolis now  there’s different like levels cuz some people  

Say you know what it only you know is good at  $30,000 I’m good 47,000 90,00 I mean you’ll see   different levels so you got to say hey my cost  of living needs to be on my level everybody not  

Going to live like a millionaire tell you that  right off the bat but with these videos it’ll   kind of show you approximately where you need to  be to live comfortably like somebody that owns a   business not somebody on the bottom scraping a  goodbye but comfortably with somebody who needs  

To generate savings needs to generate profits  this is what this video is about inflation it   continues to impact families and people living  off of one income a new study reveals just how   much you have to make to live comfortably in  Arizona in most Valley Cities it’s more than  

Six figures Fox 10’s Lindsay Reyes has reaction  from Arizonians I got a lot of laughs when I told   people the salary was over $102,000 and here’s  why I believe minimum wage is at least $15 an  

Hour right now and that’s at the end of the year  that’s not going to equal up to $1,000 not not a   year so people get a lot of side jobs or something  but it is hard according to a new study by smart  

Asset to live comfortably in Phoenix Mesa  Chandler and Scottdale the salary needed is $ 102,7 in Gilbert and Glendale it’s even more  $12,750 or more than $49 per hour the Nationwide   average is around at $96,000 now it’s funny that  they say you need around $49 an hour how many of  

My videos have I said I need at least $40 $50  an hour because I want to live comfortably I’m   a business owner I’m out here driving through  these streets I’m beating my vehicles up I want   to at least come home with some groceries you  don’t make enough money to pay for food around  

Here keep the lights turned on pay for my mortgage  if I ain’t making $40 $50 an hour I mean what’s   the point I’m going in a hole I can’t live off  for $15 an hour like these fools in Minnesota  

Is asking for I can’t do that not not to mean to  call them fools but I’m just saying I mean that’s   pigeon pay real [ __ ] that’s pigeon pay I’m not  asking for no $15 an hour if you’re a business  

Owner you want to live comfortably you putting  a lot of risk on yourself out in these streets   and these people are telling you you’re not even  worth $15 an hour that uh Probably sounds about   right this is based on the 50 3020 budget rule  allocating 50% of your salary to your needs 30%  

To your wants and 20% towards savings or debt and  I mean it’s way over the median income so it’s you   know it’s depressing to hear because it as the  uh cost of living goes up it will make it harder  

For people to PR prepare for retirement but I’m  not surprised based off of uh just the direction   of national debts and deficits and inflation  now what this guy is talking about is actual   benefits like retirement things like that the cost  of living health insurance and all that going we  

Don’t even get that from these apps we basically  operating at a gross revenue for every time we   driving these streets we still got to look at we  and tearing our car the tires the brakes you know   the motor mounts we’re looking at everything  tearing up we need me fuel window regulators  

We’re talking about expenses to run a business and  that’s all we’re covering if you’re making $15 an   hour $20 an hour because at some point something  on your car is going to break and it’s going to  

Cost you 1,500 it’s going to cost you 5,000 for a  new engine something’s going to break and if you   haven’t generated the profits to fix that now you  got a busted car in your driveway now you got to  

Call Hertz you got to call Avis these companies  that have you right where they want you this is   why I say if you want to make it in today’s world  you got to be pushing 4045 $50 an hour because  

If you’re not cherry picking if you’re not doing  private rides here and there you don’t have your   own set of clients out there you’re not going to  make it in today’s economy it’s just not happening  

Many are having to find ways to save money where  they can I’d say I’m making about anywhere between   50 and 60 right now I work from home I make about  $58,000 a year really lucky like I’ve been able  

To find rent that is under what the average rent  is I pay under $1,000 in rent um that is not the   case for people that I know other single people  in the city we had a inflation shock there for  

A while where it was double digit um inflation  numbers which we hadn’t seen in a long time uh   right now it’s down into the 3 4% range so that’s  much more acceptable um but if my analysis is  

Right I think inflation is going to be higher  than that 2% that we experienced for the last   20 years so unfortunately I think this is going  to be something that we’re going to have to deal   with uh for the foreseeable future so if leading  economists and finance guys are saying they just  

See things getting worse you got to be smarter  with how out there driving you can’t be a pigeon   you can’t be thinking well one day they’re going  to start giving us better bonuses life is going  

To catch up to you these guys are experts saying  it’s only going to get worse for people rents are   going to keep going up prices are going to keep  going up in groceries and food shortage is going  

To happen left and right if you not sitting on  saving somehow you not sitting on some YouTube   channel that’s telling you how to save money where  to save money you’re going down the wrong path if  

You’re out here beating up your car doing two ,000  miles a week you’re not going to do it right that   means you got to do it smarter cuz you’re going  to beat that car up that you owe money on you’re  

Not going to be able to sit there and afford  the repair now because you’ve been doing pigeon   rids the whole time this is not letting up all of  what’s going on with inflation and recessions this  

Is not going to let up you got to be smarter you  got to separate yourself from the normal thought   pattern of people out there and say I need to do  something differently than what everybody else is  

Doing I need to not go out and Club maybe I need  to drive a little smarter maybe I need to have a   little side business I need to start padding for  my own personal future start relying on these apps  

Maybe you got to do something different cuz this  ain’t going to end anytime soon the survey also   found that a family of two working adults with  two children would need more than $238,000 to live   comfortably reporting in Phoenix Lindsay Reyes  Fox 10 news that was just Arizona now Minneapolis  

Is a little bit less a little less to live but as  you can see from what these drivers are making up   there it’s nowhere close to what they’re saying  what’s necessary to live comfortably it’s like   I said it’s not saying you’re going to be baling  out of control just basically to live comfortably  

To keep your bills paid on time to not stress  to pretty much live comfortably well if you’re   single in Minneapolis or St Paul you need to make  at least $90,000 a year to live comfortably that’s  

According to a new survey from Smart asset which  also found a family of four needs a quarter of   million dollars every year to be comfortable  now that survey took into account spending on   Essentials like food housing and transportation  and the money spent on hobbies and entertainment  

Now what cracks me up is when they say hobbies and  entertainment most of these 80 hour a week drivers   they ain’t got no Hobbies they ain’t got no form  of entertainment and they still ain’t making the   amount of money required to live comfortably  ain’t that stupid they’re making about $2,000  

A week gross that’s all they’re making gross now  when you start taking away how much they spend   on fuel how much you spend on repairs how much  they spend on just keep keeping a car running   right how much they spend on food while they’re  out and everything nowhere close to making it so  

Working these 80 hours a week it’s not panning  out looking like it’s something lucrative nor is   it sustainable ain’t no way you going to sustain  that for long term oh I’m going to do this for 5  

Years I’m going to work 80 hours a week for the  next 5 years it ain’t sustainable now this of   course sparked a big discussion all over social  media like what is considered comfortable and   what’s it cost to live comfortably outside the  Twin City $93,558 that is the salary a group  

Called smart asset says just one person needs to  make in Minneapolis to live comfortably what’s it   take to be comfortable for one person in St Paul  well they say ah just $ 87,3160 a lot of people  

Are looking at those figures saying dang that  is comfy cozy others have looked at it and said   yeah it does take that much to be able to have a  run-of-the-mill regular comfort own level of life   now what you got to understand about some people’s  level of comfort is basically based on where they  

Come from I mean I come from the hood so my level  of comfort is just making sure I got power making   sure I got food in the fridge making sure you  know my dogs got dog food I got you know shoes  

My shoes only cost like 30 40 bucks a pair I don’t  spend a lot on shoes to me that’s comfortable but   then you got some people that’s in the hood they  need a $130 pair of shoes they need to set of 30  

Inch rims on their car to become they need [ __ ]  like that Comfort is always going to be a level   of discussion for people for me I mean I look at  Netflix I spend my money on Netflix and Spotify  

And YouTube premium so to me that’s what every  month I watch movies on that so I don’t have to   go spend money at movies and things I could just  watch it at home on my big old 65 inch TV that I  

Got on a deal from somebody who was just getting  rid of their TV cuz they was moving I actually had   the money I was say I’ll buy your TV off of you  it’s pretty comfortable I couldn’t afford to go  

To a store and buy it so and it was basic Bally  pretty new so I bought it but my point is people   want to say that they’re comfortable but they  always want more you’ll see somebody living in  

The hood living ghetto as a [ __ ] oh I’m I’m  comfortable man I’m good I’m good got a whole   [ __ ] bowl of ramen noodles in front of them  I’m good I I ain’t worried about nothing man   I’m good putting hot dogs and eggs and [ __ ]  it’s like to them that might be comfortable to  

You it might not be comfortable to you might be  I want to be able to take my girl off for dinner   at least once a week we go on a date every week  we keep our relationship live we go on a date  

Every week go to Red Lobster that might be what  keeps you comfortable so everybody’s comfort is   a little different for me comfort has always  been anybody who knows me knows I’m a car guy  

I got to have more than one car because I work on  my cars and I need something to go to and from the   store a lot I use my cars a lot so I got to have  something in case it breaks down I know I don’t  

Have to stress I just order parts and use another  car I have always been that way some people they   don’t want to say own and two cars is comfortable  I mean I got a lot of insurance I spend about $460  

A month on insurance alone but it it’s long as  I’m making the money I’m comfortable I want to   make enough to be able to pay my mortgage I don’t  want to have two three $4,000 a month in rent I  

Only pay $1,500 a month for mortgage I want to be  comfortable so everybody’s level of comfort will   be different so for me these numbers like I said  when I was working corporate America I was making  

100,000 a year 75,000 a year 92,000 a year so to  me that was comfortable to me so being a hood kid   maybe making 35 $40,000 was comfortable because  I was scrounging but as you grow you should grow  

As a person you should aspire to say I deserve a  trip to you know the Caribbean to go see how they   live over there I want to take a trip to Portugal  to see how they live over there maybe that’s what  

Your level of comfort is been cause you don’t want  to scrounge at the bottom who wants to work their   whole life just to work I don’t want to work my  whole life just to work we live on planet Earth  

I want to see this place a little bit I want to  enjoy this place a little bit and that’s why I   work I want to be comfortable and since neither  Gordon nor I have the comforts of a no child home  

Budget life anymore we decided to take a look into  this yeah with kids a family of four this survey   says a couple would need to make $261,000 to be  comfortable in the City of Minneapolis when we  

Posted this story on our website well it sparked  a lot of discussion and a lot of reactions I was   kind of in shock a little bit because there’s a  lot of people in the city that don’t make anything  

Near that when we asked Minneapolis residents how  much it takes to live in Minneapolis $90,000 seems   like it’s at that bare minimum we got answers  that were all over the place I don’t make that   much and I feel like I live comfortably and do  activities that I love and enjoy more than 900  

People answered our poll on X nearly half say  90k in Minneapolis seems about right about a   third say it depends on how you spend your money  my first gut reaction was wow that’s pretty high   Grant Meyer from True Miix advisor says it’s  important to understand how they got to that  

90,000 number the survey from Smart asset used  that the MIT living wage calculator to see how   much you need just to survive in more than a 100  major US cities for Minneapolis that number is   about $47,000 remember that numbers not to  live comfortably 47,000 is just to survive  

You’re barely getting by what’s the bare minimum  to cover housing transportation foods Meyer says   the survey used That Base number and followed  a 50 302 rule with bare necessities being 50%   of your budget 30% for entertainment and hobbies  and the remaining 20% for savings investing or  

To pay off your debt the survey argues people  who have enough money to follow that formula   will not only have enough to live but will also  feel comfortable the 50-30-20 rule that they use   it’s a good starting point for a lot of people  Meyer says their logic makes sense but after  

The bare necessities are paid for does more money  actually make you feel more comfortable there is   a saying More Money More Problems and it is not  necessarily a false saying now I beg to differ   on the more money more problems for everybody I  think more money more problems come from people  

Who in their brains live above their means I mean  they’ve always been that way even when they had   little money they lived above their means now  you get more money you’re going to live above   a higher means more money more problems is for  the financially uneducated people if you give  

Somebody who knows money well knows the of using  this tool well they’re going to do pretty well   with more money they’re not necessarily going to  go nuts you see people winning a lottery what do   they do they go nuts they were never smart to  begin with they were just stupid with a little  

Bit of money now they stupid with a whole lot  of money so More Money More Problems come from   people who can be frugal even when I got money  I still shop at the Goodwill I love going to the  

Goodwill I still work on my own cars even what I  don’t be like oh man I’m going to save some money   I’m just going to go drop it off at the dealership  I got money I’m good I got money I ain’t like that  

I know money is not forever but money also is not  for everybody you start giving your money to the   wrong people investing your money to the wrong  places you going to go broke and they going to  

Go broke I choose to use my money for smart things  I know if I keep the Goodwill up and running it’s   always going to be closed there for me if I  keep buying stuff from expensive places they  

Might close down I cook at home I don’t eat at  restaurants there’s a reason why people that get   a lot of money do better in life they don’t always  have problems trust me some people that got a lot  

Of money still end up with the same problems we  have clients that earn a large amount of money and   many people may look at their income and think wow  they must have everything they want they must have  

No money worries no stress they can do anything  but what’s amazing is your expectations adjust to   where you are in life Meyer says chasing a number  like $90,000 people do it all the time they look   at what their neighbors have what their friends  have and they feel this desperate need to keep  

Up we’re inundated with marketing that tells us  what we should buy and what we need to be happy   and then we’re flipping through our phones on  social media and we see these influencers doing   all these great things but do you actually need  those things to feel comfortable or happy instead  

Of chasing a number Meyer says think about the  things that actually make you happy and Chase   that instead Define what comfort means to you as  a person look at the relationships in your life   and the Fulfillment you get from there because  the money won’t tell that or won’t capture that  

I think it’s an illusion that happiness is money  money isn’t going to make things better now that’s   the statement I can agree on money’s not going  to make things better sometimes money makes it  

Worse cuz I remember when I first got to St Louis  this is going to be a long story I first got the   St Louis no it’s not going to be that long it’ll  be quick but a lot of people didn’t mess with me  

When I was in Vegas a lot of people didn’t me for  I lived in Vegas for 15 years never got bothered   the moment I touch down in St Louis everybody’s  oh man your cousin Jeff’s retired he gave up  

Corporate Finance he’s not in Vegas he’s here now  do you know how many people were coming to me for   money people I had not talked to in 15 years hey  man can you loan me 800 man my rent’s gone man hey  

Man can you give me $2,000 I’ll give you the title  to this car right here man that car don’t even run   I mean those were the kind of issues I was having  cuz people knew I was done with corporate America  

And now I’m in St Louis trying to do my own thing  with my money everybody wanted a part of it money   didn’t make me happy at that point in time and  I was like now I wish I would just stay where  

I was in Vegas I wish I was broke so nobody would  bother me but what I did do was started doing what   I love doing I started working on cars I opened  up a mechanic shop I started doing my own garage  

Work I met somebody who was down with working  on cars with me so we worked on cars together   that was my enjoyment all the money wasn’t making  me happy it was making me upset because everybody  

Was in my face about it what was making me happy  was the fact that now I could go sit in junky   yards all day nobody will bother me I’m taking out  engines I’m taking out Transmissions I’m working  

On exhaust systems I’m doing Cal converters I was  actually having fun with my money for once I was   not in Corporate America just watching it stack in  my bank account the whole time working 60 70 hours  

A week knowing I had no way to spend it because  I was working a whole time now I was out in the   world now I’m in junkyards I’m in auto part stores  I’m in garages I’m talking to people about cars  

And motorcycles I’m adding parts to bikes all day  I was actually having fun with my money because   my money was buying me the time to give me the  freedom to do what I enjoy with my life so if you  

See that 990,000 number and you think I don’t make  anything close to that am I doing something wrong   will I ever feel comfortable well it all depends  on what comfort means to you grant tells me he has  

Clients who make hundreds of thousands of dollars  a year and many of them are still worried about   money so it’s not the number that matters it’s  how you feel about that number if you feel it’s   enough then it’s enough and you can feel good  about that yeah past that point of living you  

Know that living wage and what you have left over  you know the first thing I thought of when I saw   this study I I just heard my dad and my head and  just saying don’t do it Janna don’t be a smart

Asset yeah why dude just laugh her off  like that dude was like yeah he is wrong   hey lady you need to get on him about  that don’t let him laugh you off that   was a good joke it was a dry sense of  humor but I got it don’t be a smart ass it

When we mention cost of living, we have to consider what we DO for a living to MAKE a living. These apps are using drivers to earn a living for everyone of their staff and all of their partners, but leaving drivers high and dry – even tho we do all the work.

#uber #lyft #minneapolis #Arizona #driver #rideshare