For reference, I’m only 20 but I stream a lot, and I swear every so often I’ll run into a random 18 year old, 19 year old, etc. who just inexplicably has a crazy PC, can show an image of their cash if they’re that type, etc. and I’m not sure how they do it.
The ones I’ve talked to have proven it’s not just Daddy’s money — I mean seriously, what parent is just buying their kid a $4k desktop — but no one ever really talks about how they do it then-
I’d like to follow their footsteps because making $15/h at Wendy’s through college is miserable, especially with the universal resentment toward our GM, but I dunno what they’re doing. Is it stocks?? or internships?? or idk-
Edit: And if it is just a lie, exaggeration or them creating their own downfall via debt, I’m not sure how to become like that legitimately. Yeah, I did a high school financial literacy class. But that was more just.. “don’t spend $1,000 on your credit card if you can’t pay it back !!” like, yeah, no shit.
Is it really just put yourself through college to become financially stable or is there more than that? I’m more on the IT side of things than the trade jobs, etc.
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If its not mom and dad money, its very likely credit card debt.
A lot of it is a lie not trying to be a hater but most of the time none of cash or things they have isn’t things they have bought themselves
>what parent is just buying their kid a $4k desktop
A LOT of parents are.
Also though, generation wealth doesn’t just mean mom and dad buying you things. It’s inheritance/trust funds, better job opportunities and connections through their communities, etc. Some people genuinely made their own money through getting lucky with crypto and stuff like that. But for the most part the people our age who I’ve met with that much money, either they landed easy nepotism jobs because of their family connections, or they get a huge allowance from their parents. A lot of them don’t even acknowledge that as anything but their own success, since it’s just normalized for them.
Or credit card debt. lol
I’m a huge fan of Ramit Sethi, whose book/content give a wonderful framework towards building financial stability/success in a sustainable way. That’s how you become like that, learn more from an expert who isn’t just scamming on social media
>I’d like to follow their footsteps
Probably not possible. It’s very rare for someone in their late teens or early 20s to be that financially stable without familial assistance, going into massive debt or doing something illegal. It’s entirely possible, but very unlikely.
Note I said “that” financially stable. A job and no bills can get you a decent bit of spending money at that age, but $4,000 on a PC and fat stacks of cash? Probably had some help
Your best bet is staying the course, getting a degree if you can afford it, avoiding debt where sensible and keeping it low for things like a car payment, and saving where possible.
Sadly, personal finance is a pretty boring and solved problem as long as you don’t have massive debt. Make more money, spend less and save/invest what you can to get compounding returns. Then wait.
Could be mom and dad money.
Could be that they make a dedent entry salary while still living with their parents.
Few things at play here
It’s easy for people to just chalk it up to “mom and dads money” or “debt” and while these are real answer, you’d be surprised how much of it is actual income.
Some will do crime. Scamming is of course a very popular method, pays out fast, and in large amounts. There’s plenty of crime that pays and younger people are very susceptible to trying it out if desperate enough or they see someone else successfully doing it. If they don’t go too crazy either they will probably get away with it just fine.
There’s also a ton of legit business out there. You have the internet. There’s a hundred different side hustles you could start right now and be taking money in by the end of next week. It’s literally everywhere. There’s also a whole business model of teaching other people to make money, all over YouTube and everywhere. Some of these require investment some are free to start.
The separating factor is these people are making an effort to make money. Whether it be legal or not, they don’t just go to their crap job then slouch all day. Find a side income and get to work. Does that suck? Yeah it does. If you want the extra money then that’s the barrier to entry.
Either generational wealth or “easy money” like Youtuber/influencer/OF. Going into CC debt seems sadly common.
A lot of people use payment plan on random stuff.
Its mainly smoke and mirrors and family support. Some of it is also the fact that you’re focusing on the rich ones when they’re are plently of poor ones who stream as well.
My nephews are around 18. Their family isn’t rich but their relatives spoil them with new Pc and gadgets if they ask for them. They also don’t have jobs but have nice clothes and things. Looks are deceiving. Most young adults don’t understand the ramifications of CC debt also so it’s no surprise if they have a few maxed out credit cards to look like their influencer idols.
I am in my early 20’s too, the biggest thing is debt and financial support. Debt doesn’t need much of an explanation, but for financial support sometimes it isn’t mom and dad paying for cool stuff, it’s them covering all the things that add up, like gas, insurance, food, etc. When all your basic needs are met and you don’t need to worry about any financial crisis you can spend all your money freely.
Debt. Always debt
I’m in my 30s. What I can tell you is A LOT of people spend way too much money looking like they have money.
Not having debt is a much better way to live.
Few possibilities and will speak from some experiences
Parents money buying them things – I know many people who i believe their parents either have a lot of money, will live well above their means to give their kids anything they want, or will go into debt for their children
Grandparents money – same as above. Personally both of my grandparents are multi-millionaires. They like to spoil my sister and I. Both my grandmothers could not outlive their money. I needed a new car after mine died and my grandmother bought my sister and I brand new cars.
Some college students get a lot of financial aid or scholarships that exceed their school price, allowing them to spend that money how they want. Others are taking huge student loans to pay for everything and will probably struggle to ever pay them back unless they’re going into a lucrative field.
Credit card debt and financing everything. You mention PCs. I’m not a big gamer anymore but I guarantee there’s a company you can finance a computer from. I know you can finance Apple computers.
Try to not compare yourselves to others. It is the thief of all your joy. It is hard to avoid doing this. They used to call it keeping up with the jones’ but that’s when they lived in your neighborhood and it was easy to kind of see through the new car or something. Now with social media this is harder. You’re young, as you get older you’ll start realizing the vast majority of people are living well beyond what they can afford. Financial security and freedom is always better than having the shiny new thing anyway.
I can’t speak for every 19 20 year old, but almost all of them are broke. If you live at home and work a job, have no bills, you can pretty easily save a few months pay and buy a computer. If you’re paying rent and stuff that’s not going to be as easy.
U think $4k is a lot of money? U can save that in 3 months workin part time at 18 if ur living with parents and have no bills to pay/ eat at home too.
Ur perception is skewed by ur inability to save any money if u got bills and pay for lots of things urself (moved out of parents house).
That’s the most likely thing to do at 18 19. Not no special high income or scamming like ppl are suggesting.
If you wanna follow in their footsteps, my first recommendation is to be born into generational wealth and have a trust fund set up for you.
>The ones I’ve talked to have proven it’s not just Daddy’s money
How?
if they said it’s not their parents helping them, they’re likely lying or don’t recognize that they could buy a 4k computer because their parents paid their 1k rent for four months.
“Kids” can get seriously lucrative (for their age) labor positions in factories and industrial sectors with very little education or ability. So long as they can take long hours and ‘hard’ work there are plenty of places starting at mostly thriving wages.
I worked 60-80 hours a week for a year, lived like a hermit, bought a car, house, and stocks for funsies, then quit for a sustainable position that wasn’t literally murdering my mind and body.
trust fund, credit card debt, rentals
If they can’t give you an explanation, they’re either lying or doing something illegal.
Parents actually will, in fact, buy their children $4k setups
Parents money, savings, luck. I have a very nice PC that I got entirely for free, min price $1000 otherwise. But I play on an old ass hand me down monitor.
I remember in college going home and catching up with high school buddies who had nice trucks, fishing boats, atv’s, etc and thinking damn I made a mistake with this college thing. they’re living it up working at the bait and tackle, I shoulda just done that! Nope turns out it’s just a fuck ton of debt lol
> can show an image of their cash if they’re that type
I’ve never met anyone who genuinely does that. You are watching a “streamer”. Who is trying to get impressions to get ad revenue. I wouldn’t ever equate anything they do to “average normal” people.
Dude, they lie!
They have parents who pay for it.
At 20 I had $30k in savings WHILE going to college full time. But the catch was that I started working the moment I was 16. During my junior and senior year of high school I had the opportunity to opt out of taking a full days worth of classes and instead would head home early so I could go to work. I did 28 hours during most school weeks, full time in the summer. Brings in a lot for two years while you’re still living under your parents. I was saving for college and then by the time I started college I was hunting for internships that had better pay. I also didn’t go out much and thought about every penny I spent. I acted frugal even if my bank account was “loaded.” But, I was able to get married while still in school and now I own a home at 24. So it all pays off. I never went on any fancy vacations like many others I knew. I also did commute and live at home throughout college (though beyond the roof over my head I really paid for everything else, my mom wasn’t home a lot when I was off from class so I often had to take care of my own meals. I also bought my own car, paid my own insurance, paid for my pets & their vet bills, paid my phone, etc).
I just prioritized my money differently than others. My husband wanted to move out the moment he was 18 but it bit him when it came to his savings & it also caused him to take out credit debt. I know plenty who financed vacations or expensive purchases. Hell I remember during COVID when we got grants and refunds due to the pandemic students would spend that money on new PCs. Most people are bringing in decent cash if they’re working at that age (decent enough) but they all prioritize where the money goes differently
credit card debt
The book, “The Millionaire Next Door” was unexpectedly good. Effectively, the people who look like they are wealthy are often the people who have little money and a lot of debt. There are also a large number of people who look broke, but have a ton of money because they’re being mindful of where they spend it.
You may be seeing kids living off their parents, but often these are people who are professing that they have wealth, in hopes that proximity to other people that seem to have money will increase their prospects. You don’t get to see the “crash” when the debt collector shows.
Yall have money? I make barely 60k and ended owing taxes.
It’s mom and dad’s money or on credit. Or they have a job and bought it using their own money but everything else is from mom and dad. Like they dont pay rent or food or whatever.
If it’s not parents money, what you’re looking at are just dumb financial decisions and a mildly better job than Wendy’s. You could have that pc too, you just had other(better) priorities. You’re getting caught up in their shiny things, but you don’t know the whole story of their finances.
One summer and a lawn mower can get you 4k, it’s how I got my first car.
As a wise man once said, “don’t believe the hype”. Some are lucky, most are lying, then the vast majority are the slient masses who you don’t hear about because they’re not yelling about it.
Just remember most of the internet isn’t real life.
Rich parents or debt
I think in early 20s, it’s def family money or debts.
In ones 30s, it should be from their career or earnings.
Some people are just richer than you.
Some people have rich parents.
Some people have debt.
Work in the trades and live with parents. Lots of fun money and enough to build a big savings. No debt
I’m a loans officer at a bank.
The answer is simple, everyone wants to be up to their eyeballs in debt all the time.
The ones that are showing actual cash are piss poor most of the time
Lol I feel the same way. Everyone has money except for me and you apparently. Just know that there’s definitely bias in what you’re seeing, and its not a true representation of the majority of people. Just like social media people only post themselves looking good or doing well to chase clout and satisfy their ego. One can assume the younger population is more likely to show off too.
IT? Internship internship internship. Do your best to expose yourself to as much as possible in the world of IT and you’ll eventually discover what you enjoy. Sometimes you gotta start in helpdesk… but I wouldn’t stay for more than a year. You’ll find your path and start making serious money if you play your cards right
Comparison is a thief of joy they say
Personally I was pretty flush for cash at that age. It wasn’t mum and dads money, it was mine. I have worked since 13 and was pretty good at saving.
But that being said I was lucky that mum and Dad let me live rent free. I also used the family car.
I mean a 4k pc setup isnt really anything unachievable.
Your concept of what is a lot of money is a bit skewed.
If you live with parents etc and don’t have many bills a $4k pc is outrageous but easily doable with a average job.
I live with parents and I’m 25.. not that I want to but rent is so expensive and my parents are cool with it. I pay a very reasonable rent here and help out a lot plus buy a most of my food etc.
But in turn I save a lot.. I’m taking advantage of it to save for a house and retirement. If I wasn’t a saver I could have a brand new car and new electronics or atvs etc and look like I’m rich too.
Only thing then is you end up broke and nothing to show for it.
Other people may indeed be spoiled by parents or inherited a lot.
Never compare yourself to others, and from the outside things may seem very different from what they actually are
A lot of them have more wealthy families that absolutely do buy them expensive stuff. When I was 20 just going to the local state university i met several people who’s parents bought them houses. A surprisingly low amount of my classmates had any money worries at all and many couldn’t grasp why I’d live with my parents an hour away and work weekends instead of living it up, having a ski pass, traveling, etc. Some had money through their parents, others were deeply in debt trying to keep up with the rich ones. Almost nobody at 20 can actually afford nice things on their own, especially not while also having school expenses. It takes time to get established. Even the ones with nepotism routes into good jobs won’t usually have those good jobs until after they have finished college.
Ever heard of a part time job?
I just read something like 60% of Coachella attendees used the buy now, pay later service. Oof.
Because they truly have. There are a lot of rich kids out there who either inherited money or make a lot.
Something that I haven’t seen mentioned is jobs that people might get right out of hs or during hd that pay really well, not many of them but they are there so these people are pretty rare.
Most (aus anyway) lifeguards get paid around $50/h (31.66 us as of posting) and can work fairly flexible hours (personally I work ~25-30h a fortnight). I know a guy who got hired by his school to do i.t. for like 35-40/h etc and definitely tradies(aus has a system to start trades and stuff during hs and most vocational courses a cheap/free) only downside is a lot of these jobs are both niche and rare to drive wages up.
(For any younger Aussies looking for work, come spring there’s usually a bunch of pool lifeguard and swim teacher positions available because most of them are uni students who leave after graduating and getting a job)
Frequently even when it isn’t Daddy’s money, it’s someone who can spend what they earn because Daddy is paying the bills so the person’s own income is spending money.
I freely admit I am in this position, although I’m in my 40s. I am severely disabled and have been most of my life. I’ve always lived at home because I’m not physically able to care for myself safely. I’ve never been able to drive.
My parents are well-off. Not rich by any means, but secure. I am incredibly fortunate that they are happy to support me as I’m never going to be able to work. I don’t pay rent and I don’t buy the groceries. I have three different types of health insurance via my parents.
I receive disability through Social Security every month, and that money is mine to do with as I please. My contribution to the household is limited to the fact that I pay for a ton of subscription services that my whole family uses. Amazon Prime, several streaming services like Netflix and Hulu, two newspapers, several music services, probably a couple others. Where needed I pay the extra to allow multiple people to use the service simultaneously. But that’s basically all I contribute.
My parents provide the basics for a wonderful life and I only pay for my luxuries. I pay for my own takeout delivery when I want it, but not for regular groceries. My parents buy my standard toiletries; I buy the expensive skincare products and cosmetics. More or less, if you can buy it at Walmart or the drugstore or grocery store, my parents pay. If it’s from an upscale or specialty store, I pay. This has worked for our family for a very long time.
I’m the person in my group of friends who doesn’t worry about money so I typically pay the various expenses for whatever we’re up to. I don’t have a $4k computer, but it is new. I can afford to buy most things that I want without having to save up, and I pay off my one credit card every month.
So in that sense, I have money– Daddy isn’t paying for the Switch 2 I intend to pre-order. But the reason I have that money is because Daddy is paying the majority of my living expenses.
And I am grateful for it every day of my life. I will never have the life I wanted; I’m in pain every moment of every day, I’m sick most days from all the medications that keep me going, I can barely walk, and some days I’m not even able to get out of bed for the toilet so I have to piss and shit in a commode bucket and ask someone to empty it. My sister has to help me take a shower. I have no independence and no pride.
But I don’t ever have to worry about money, and I can buy whatever I need to make my life comfortable. I have a close family who would do anything for me. I have nearly unlimited free time to read and play video games and put together 4000 piece jigsaw puzzles to frame and hang on my wall. It’s enough for me.
Debt, and parents subsidizing their existence.
Not everyone with a credit card is as responsible as you
If people live at home, they’re avoiding the biggest cost of living – rent.
If their parents are well off, they’re also avoiding the cost of groceries and probably running their car, which their parents also probably bought them.
If their parents are very well off, they might be giving their children an allowance, even at 18, 19, 20.
Never underestimate the generosity of parents with money, and the inability of young adults to acknowledge this privilege when discussing their own lives.
Almost everyone you see online flaunting their wealth is poor. Like, not just broke, but worse. Hardcore in debt. Unless they have parents to help