brought to you by the every dollar app start budgeting for free today gen z doesn't agree that

seventy four thousand dollars is middle class no kidding it's not even close check this out if you take

seventy four thousand dollars for a gen zer let's say they have a bachelor's degree in their 25 years

old first of all 74000 is much higher than the average income. Most Gen Z years are probably

making anywhere from 40 to 50, maybe 60, but let's use 74. The take home after taxes 401k and health

insurance is $4,300. The average college monthly payment on a loan is about $500, you're down to $3,800.

Let's say this person is financially responsible, decides to split a two-bedroom apartment in a medium-sized city like Orlando

so that their payment is 1,200 apiece, 200 for utilities, so 1,400. Now, unless they're going to have

Lucky Charms and Peter Butter and Jelly, their groceries are going to cost about 600 bucks if they're

trying to get chicken, beef, and some healthy stuff. You have a $400 car payment, $200 insurance, $150 for gas, $100 for a cell phone, leaves you with $950.

This is no savings, investment, no emergency fund.

Let's give them at least $300 to go on a couple dates or to hang out with their friends for

the month so they can enjoy life a little bit.

They're left with only $650.

A bachelor's degree, $74K salary, you are splitting a two-bedroom apartment with a friend and only have

$650 left a month. It would take you years to save up to $30,000 that you would need for a down payment

on a house with the closing cost. But even if you could get that down payment saved, you would

still need to make $120,000 a year to be considered for a $400,000 loan.

The middle class, the goalpost has been moved from $70k to $120,000 in just the past two years.

Okay, okay.

I got some thoughts, Rachel Cruz.

I did too.

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