TikTok creators Daniela Martinez and Ana Marcks are some of many jumping on board the latest financial trend, a payday routine.
Users are posting themselves breaking down their paycheck, accounting for every cent that goes to their bills, daily expenses and even a leisurely day out
“The last thing I do is I pay off any credit cards that I have,” said Martinez.
Marcks suggested the 50/30/20 method to her viewers.
“Half of your take-home income would be for needs, 30% for wants and then 20% for savings,” she said.
According to Wells Fargo’s head of advice and planning Michael Liersch, financial responsibility shows people what is working or not working for them.
One survey reported that roughly 60% of consumers lived paycheck to paycheck with 66% of those consumers being from Gen Z.
“I used to spend my money on things I didn’t need and honestly, I wasn’t very happy about it,” Marcks recalled.
Now, Marcks said she doesn’t just feel in better control of her money. She feels more in control of herself.
“I feel more in control of not just money, but overall like who I am. “I feel like I have more autonomy even with my friends,” she continued. “It’s benefited everyone in my life and forced us to become a little bit more creative.”
