Reply to Income 100k for 35 year old is working poor

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[quote=Anonymous][quote=Anonymous]Sure not spending like the working poor. We're a family of four and don't spend $2000 a month on "FOOD, GAS, Metro, Drinks, going out, Door Dash".

I agree with the need to have an app to automatically track/categorize your expenses. YNAB is fine.

"I will teach you to be rich" has its fans, though I'm not one of them. He does make the excellent point that there is a limit to how much you can improve your finances by reducing expenses. You should do it, for sure, but it's not going to get you there.

The key to wealth is increasing your income. First is your wages/salary. Real wealth comes from building passive income: stocks, real estate, your own IP that generates income and marrying well.[/quote]

But I'd argue the first step should be "reducing expenses".  The OP is spending way too much on frivolous stuff with door dash and having a $2K credit card bill. 
 Learn to cook at home, and when you get take out, walk/drive to get it yourself.  They can likely reduce their spending by $500+ per month without any major impact, just by tracking, being aware and cooking at home more.  
Do that then you will have $500-800/month to actually invest and begin building wealth.

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