@PIRATEKINGDOM

Pirates, I made a mistake on the tax calculation. The US has a progressive tax system meaning you pay income tax in steps working up to your total income and NOT everything at the highest bracket. This website calculates the correct tax amount for $360,000 income which is $83,886 or $7,000/month and NOT $9,600/month.👉https://smartasset.com/taxes/income-taxes#UOL6ptlKd2. Sorry again for the confusion, and my sincere apology for the misinformation. The purpose of 7:08 was to inform that taxes are one of the biggest expenses in anyone's budget (which still holds in my case). Regardless, I should’ve been more careful with the numbers. My deepest apology again; I promise to do my due diligence and create more reliable, accurate content. Lastly, thank you all for correcting me and giving me the opportunity to learn and be more responsible. 

- PIRATE KING 
p.s. How the US tax system works: https://www.businessinsider.com/personal-finance/how-progressive-taxes-work-united-states-income-tax

@Feastalisk

This guy has the skills to get paid in a lucrative yet arguably highly competitive field AND still put effort to generate top tier Youtube contents. Wew

@Kevin-jc1fx

Thank you for being honest about the fact that you don't just come out of a 6 month coding bootcamp and walk into a $400k entry level position. So many influencers are selling beginners the dream without mentioning clearly how long it took them, the setbacks they faced on the way and the unfair advantages they had like fat checks from family while they are struggling to get into the industry while some other people would have to work odd jobs to survive. You have to work your way up there.

@Dan-codes

5k is fine with 30k income.   Good expense to income ratio, even after taxes and other deductions if we cut that to 15k. You should be under 40% net on expenses and you're doing well.

@sharknitro7285

This man inspired me to wake up and continue my coding. I appreciate you man.

@ChadGeidel

Pirate King - I think you have a reasonable budget given your income. Nice. I would suggest to everyone the first investment step is participate in your company's 401k. Most companies match and you can put up to $20,500 into that pre-tax every year.

@Sandy-ju1iu

My income deductions came to 35% in my last job earning 43,000. I can't imagine how many institutional people want their piece of a 360k pie.

@jejunegamingtv1359

earning so much but still saving alot and not splurging. much respect

@aaronalquiza9680

7:17 in canada if one makes $360k USD or $515k CAD, tax is 53%. that's right. even if we gross cash $360k USD no stocks, we would only bring home <$180k USD cash max. there's pension and employment insurance too.

@MattXChrist

At first before clicking on this I was thinking this is another cocky guy rambling on about an exaggerated video but listening in and hearing the honesty helped me out a lot as I’ve always wanted insight into the reality of a software engineers salary and spending habits

@strovich

We’re actually doing well regardless of 5 people and 3 cats in our home. We order groceries online for pickup so we don’t overspend and eating out for us is anything a coupon can buy. I recently found out I’m celiac so o can’t really eat out anymore so it keeps me eating at home more often.

@nerd_alert927

One of my friends worked in Renton as a property manager. He showed us a 1 bedroom, 1 bath apartment and it was $1,500/month, this was almost 6 years ago.

@headcase2226

Ngl, Mint mobile looking pretty nice. Currently paying $70/month when in actuality, I do not use my phone enough to warrant spending this much. Looking to switch of T-Mobile to Mint to save money :)

@michaelnoardo3315

you are lucky, here in the Netherlands we pay something close to 51% of taxes, if you raise 10k/month , 5k gets retained to the government

@agen1man

Thanks for the video! It's really nice for comparison. Rent is crazy expensive for you guys. In my part of Northern Europe, 2-bedroom apartment rent costs approx 800-1000€ per month, although annual incomes are much lower than in the U.S.. During the past months electricity prices have gone up really bad. I used to pay 10€ / month, last month's bill was 60€. We spend about 500-600€ on groceries monthly (me and the wife). Own 2 cars (paid off), but monthly total costs for gas are also 500 - 700€, depending on how much we drive.

@beforeandafterphotos

Good on you. Live below your means. It's crazy, I have a 2500k house and my mortgage is 551 a month. Location sure changes that.

@uhyonc

Since you get standard deduction of $25900 and assuming no other income or credits... Acording to 2022 tax table for married filing jointly, you will actually pay (360000-25900)×0.24-12329 = $67,855
Income tax and $9114 on ss tax, 360000×1.45%=$5220 of medicare tax for a total of $82,189

@tender0828

Thank you for this video! I'm getting by with what I earn (it's really not much) but I've been working on my spending habits lately so I can crawl my way out of my situation. It's tough, but seeing people talk about their best practices helps me stay on the path. I'm subbing. Good stuff!

@strovich

I like how you are still budget conscious too. No overreaching or anything and still enjoying life.

@chrisclarkx

Clearly a wise man, very healthy budget for your salary. Ps: Find a local pizzeria and get your slice! Costco is D tier