My Rich Nerds,

He’s 20, working part-time at Walmart, living at home, and just trying to make it through college in one piece while escaping the paycheck-to-paycheck cycle.

Let’s dive into the numbers.

My Initial Thoughts:

• He’s really doing great. He’s living at home, which is a smart move because he has room, food, and time with family. He’s going to school, picking up useful skills, and he’s working part-time too. Honestly, I wouldn’t expect him to take on anything else.

• He doesn’t have many recurring expenses. Just a ChatGPT subscription, a credit-builder app, and extra iCloud storage, totaling about $50 per month. It’s important to remember that small purchases like these, especially in such low quantities, rarely make a meaningful impact on someone’s overall finances. Larger expenses are usually the ones that create financial strain, so it makes more sense to focus on those before worrying about minor costs. We’ll cover his bigger expenses, gas, auto insurance, and cellphone costs below.

• He’s in school for cybersecurity and hopes to land a well-paying job after graduating. At the same time, he’s curious about becoming a financial advisor or fund manager. Those are very different paths, so PJ should take the time to think carefully about which direction he truly wants to pursue.

My General Thoughts:

1. His biggest expense is gas for his truck—around $500 a month. We need to get that number down. I’m not suggesting anything shady like siphoning gas. What he should do is sell the truck, which could bring in around $4–5K, and get a reliable, fuel-efficient car instead. This simple change would significantly reduce his monthly expenses.

2. His next biggest expense is car insurance (for that DAMN truck), and it is around $170 a month. He needs to shop around for some better rates to net some savings.

3. Y’all youngins love your phones, but that doesn’t mean you need to pay an arm and a leg for your line. He’s paying $137 a month for his phone, which includes insurance, service, and the phone payment. I’m sure you’ve seen Deadpool hawking cellular plans; there are cheaper options.

   

4. Y’all thought I was gonna let this slide? No way. Our boi PJ needs to get a Newbie Emergency Fund going—enough to cover one month of expenses, $1K in his case. He should do this first, because GOD FORBID he gets hit with an emergency windshield repair for that DAMN truck. And did I mention he should just sell that thing already…

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Challenge, Should You Choose to Accept…

This week’s challenge is to take a quick look at your transportation costs and spot one easy way to save. Write down what you spend each month—gas, insurance, car payments, maintenance, parking, tolls, or rideshares. Circle the biggest number, then take one step to reduce it.

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This content is for educational purposes only and is not financial advice. I am not a licensed advisor—please consult a qualified professional for guidance on your personal situation. You know, someone who wears ironed collared shirts and sips from a ‘Freak in the Sheets’ mug.