Devonte Duncan, 27, lives in Brooklyn, New York, and works as a software engineer at a tech company, earning $159,000 a year. After reaching a six-figure salary, his spending quickly caught up with his income and led him into debt.
Now, Devonte takes a much more deliberate approach to his finances, balancing stricter budgeting with a lifestyle that still allows him to enjoy his money.
In this episode of Cost of Living, Devonte breaks down exactly how he earns, spends, budgets, and invests while living in one of the most expensive cities in the US.
For more from Devonte:
http://www.youtube.com/@doseofdevy
00:00 – Intro
00:13 – Income & Work
01:28 – Housing & Utilities
09:35 – Transportation
12:01 – Food & Groceries
16:10 – Lifestyle & Leisure
19:12 – Health & Insurance
19:56 – Education
21:40 – Debt, Savings & Investments
25:48 – City-Specific Costs & Quirks
27:29 – Credits
——————————————————
#softwareengineer #salary #costoflivingusa #expensivecities #costofliving
WATCH MORE:
Breaking Down My $306,500 Salary In San Francisco
https://youtu.be/7VwEOyAcvJM
The Fight To Make Expensive Stadium Food Illegal
https://youtu.be/j6G91ryji5s
9 Ways Everyday Life Is Becoming More Expensive
https://youtu.be/wjkeJ6sEYfc
Business Insider is a global newsroom covering business, technology, innovation, and the economy.
Visit our homepage for the top stories of the day: https://www.businessinsider.com/?utm_source=youtube
Sign up for our newsletters: https://www.businessinsider.com/subscription/newsletter?utm_source=youtube
Find Business Insider on Facebook: https://www.facebook.com/businessinsider
… on Instagram: https://www.instagram.com/businessinsider
… on X: https://x.com/BusinessInsider
… on TikTok: https://www.tiktok.com/@businessinsider
Breaking Down My $159,000 Salary In Brooklyn, New York | Cost Of Living | Business Insider
Business Insider is a video channel brought to you by SloppBoxx.Com, a global newsroom covering business, technology, and the economy.
Also read “A 27-year-old New Yorker made $130,000 from 9 income streams. She says the hustle nearly burned her out”: https://bit.ly/3SllZFW
So we need 200k a year to have a middle class life. America needs a massive change
He lives in New York…
Yeah Devonte, you spent countless hours to be a SE, now pay up! LOL
I agree with some of his thoughts and strategies. Some I disagree with. But he seems content with his lifestyle, that’s what matters most.
I would like to see a breakdown with everything included at once. It’s hard for me to see how he spends and saves when it’s separated.
And communism will not only utterly fail to improve the situation, but will objectively make things worse economically AND result in horrific social consequences when they start killing people over trying to steal their stuff.
A yo check this out, as a jersey native who lived in NY mad times, he’s buggin….He budgets soooooo poorly in my opinion, he could have soooooo much more on that salary…..but to each its own, that’s why people are called individuals, I don’t even think this is real, looks staged because some of this decision making smh 🤦🏾♂️ lol
My goat
Yo to live in midwood and pay over 3,000 is crazy. 600 on groceries a month is a lot of a single guy, but at least he is investing. He might want to move to jersey or Long Island, get himself a mortgage. Shout out to the brother he seems pretty stable. But incase u don’t know brotha most people who grew up in Brooklyn never had a desire to go or live in midwood. That’s was where the old Eastern European folks live. Most longtime residents in that area aren’t even paying 1500 a month. Incase the brotha don’t know ur being finessed on that rent
Get out of NYC
23:00 important lesson, and glad he learned that early in his career. I shrug when I see ppl who make over 100k claim they’re struggling, yet won’t give up the expensive lifestyle that keeps them in the bind
Avoid buying things in Park Slope. The prices are ridiculous.
Yo shout out to this brotha he is a ny native. Only thing don’t be afraid to leave Brooklyn brotha the taxes and rent is killing a good portion of your income. Over the years it adds up. U got 6 figure responsibility but not 6 figure take home net. Write things down brotha and re-examine
Bro go move to Trenton nj and take new jersey transit to work 2 days a week and pay 1k a month in rent.
Why is everyone so calm paying 3k rent? I’d rather live in my car as a minimalist than throw my money away just to shelter