a lot of people are interested in becoming sneaker heads but the real question is can
you even afford this lifestyle when it comes to building a sneaker collection there are
definitely a lot more things than just buying shoes you got to figure out how you're going to
store your shoes how you're going to protect your shoes how you're going to display your
shoes how you're going to insure your shoes and plenty other factors that go along with
it so in today's video i want to give you the beginner's guide on how to budget for a sneaker
collection and honestly for anything else in life as well so let's go ahead and get into it
welcome back to the channel what's up with you guys how you doing how you being if you did not
know by now my name is dj and this is the dna show now if you haven't already make sure you
hit that subscribe button don't forget to hit the bell notification for every time i upload
a new video and make sure you hit that like button because that helps the algorithm oh so much i feel
like everybody in life has something that they either shouldn't be spending money on or they
just might spend a little bit too much money on and for me that's sneakers over the past 15 years
i have found different ways on how to budget my money to then afford sneakers multiple homes in
real estate investing in a stock you name it a bunch of different factors as to why i can do the
things that i want to do and hopefully this will help you as well for the things that i've learned
in the past everybody has those one or two things in their life that they spend too much money on
when you're on the outside of the box looking in and i completely understand it we all have our
different reasons as to why and i'm not shaming anybody along the way because at the end of the
day go ahead and live your life bro i personally grew up never smoking never drinking and i never
liked coffee or anything like that and all i did was spend my money on my shoes all my cars
in all my houses so i was reading an article the other day and it says 62 percent of millennials
are living paycheck to paycheck it also says that millennials are spending an average of 478 dollars
on non-essential items and i think shoes might fall in that category if you have somebody i
personally have a budget of 20 000 a year when it comes to what i plan on spending on sneakers each
and every year so that's roughly around sixteen hundred seventeen hundred dollars a month that i'm
willing to spend on a pair of shoes i might spend less money one month and more money the next month
but usually overall it's gonna average anywhere from fifteen to twenty two thousand dollars each
year that i spend on sneakers so let's just go ahead and round it up to 20 000 a year for
my sneaker budget and at the end of the year i will also be making a video showing you guys all
the sneakers that i purchased how much i spent on them how much they're worth today all those other
factors and then how much i spent for the entire year on every single sneaker that i spent money
on so stay tuned for that video coming up around new year's so like always you know i had to go
to instagram and ask the same question how do you guys budget your money if you haven't already make
sure you follow me on ig so you can participate in the polls and see the results here on the channel
but this is what the people said as you can see there are a bunch of different ways that people
are going about it some people don't at all some people do some people have a high savings some
people have a lower savings there's a lot of different things some people are still not even
sure what they should do and that is completely fine hopefully we can help you in today's video so
now it's time to break out the notepad and really start to take your notes because hopefully what
i got to provide is some good value for y'all and if you want to learn more check out the link down
below in the bio or pinned in the comment section for the hobby to hustle program that'll teach
you way more about saving your money building your collection growing an extra side income
so tip number one is going to be track your spending and what exactly does that mean it's
hard to set a budget if you don't know how much money you're spending each and every month i know
this may sound very fundamental to a lot of people but some people just actually really don't track
their spending and they don't pay attention to their apps that may be tracking it for them a lot
of people now with all the smart stuff with all these apps and these bank accounts and everything
it all kind of tracks it for you so if you need a glance at your app or write it down on a piece of
paper whatever it may be you have to understand your spending each and every month and come up
with those average numbers so that way you have a better understanding on what you're spending money
on for food for travel for your friends for gifts for charity for donation to the church whatever
it may be you need to have your understanding of your spending each and every month so that way you
can give yourself realistic numbers when it comes to setting your budget now tip number two when it
comes to purchasing sneakers you're gonna have to understand are you paying retail or are you
paying resale so for those that do not know say for example a pair of sneakers comes out at your
local foot locker that's a retail price point this air jordan 1 sneaker right here retailed at 170
but the resale is like 400 bucks so that's a question that you're gonna have to ask yourself
how bad do you want the shoe are you willing to pay the resale how much higher is the resale
compared to the retail and what is the potential projections over time there's a lot of other
factors again like i said we covered that in the hobby to hustle program but i just want
to make sure that you guys know the difference between the two so that way you can understand
what you're getting yourself into because there's a big price difference on some sneakers
step number three is you're gonna need to figure out what shoes are coming out this month each
and every month there are a bunch of sneakers coming out from a bunch of different brands
and again this applies to a lot of different things in life even if it wasn't sneakers
you may have a movie premiere or uh some poster or star wars drop in or you know whatever it may be
what's coming out this month do i plan on going do i plan on attending or do i plan on purchasing
this item or is there a concert coming up whatever it may be understand what's coming out this month
and next month so that way you can budget and say okay i might have to spend a little bit more this
month compared to last month or there's a bunch of sneakers dropping this month and i really want to
try to get all of them or if i don't i'm willing to pay resale and this is how much i'm willing to
pay so just understanding what's coming out ahead of time and really being prepared for it it's a
lot easier to then be able to either pull the trigger and spend that extra dollar on the shoe
or say hey you know i gotta hold off on it maybe i'll wait until the next release that's coming
out next month also step number four is going to be understanding what sneakers do you want
from the past so a prime example this shoe came out like 14 years ago and i finally picked it up
in 2021 obviously this is a sneaker that came out from the past but i was willing to spend money on
it and i was ready and able to afford to pull the trigger on this shoe whenever i found a good deal
on it and it just happened to be a few months ago so me personally just like real estate you plan a
whole budget on what it's going to cost to remodel a home but then you add in a couple extra bucks
just in case if you didn't account for everything that's going on you might have missed something
with the plumbing or whatever it may be it's going to be the same concept when it comes to
sneakers i plan on getting all these drops that are coming out but i might find a good deal on
a shoe that came out in the past that i really want and now i can finally get it once you have
a bigger understanding of the big picture it's a lot easier for you to set a plan so like i said
earlier in the video my plan for this year was to spend roughly around 20 thousand on sneakers which
gives me about a fifteen hundred dollar budget to then purchase a couple shoes for retail and
then obviously get a pair for resale and you know get maybe one cool shoe each and every month and
slowly acquire a couple different bangers every few months or whatever it may be so now here
comes the really hard part you're gonna have to be extremely honest with yourself again these are
your numbers this is yourself you control your destiny right well for the most part but at the
end of the day you have to be in control of this and be honest with yourself and that is literally
understanding your numbers and being realistic do i need to either spend less in certain things or
can i make more money in other things to then compensate to then be able to purchase other
things so i heard from a lot of people in the comments section when i posted the poll a lot
of people said they work overtime they started a double shift doing a second job whatever it may be
to then be able to fund their sneaker habit and i completely understand that because honestly living
in america right now it is hard to just have one single source of income and expect to just
cover every single thing and now if you've got an amazing job and everything is great for you that
is amazing i'm gonna give you a golf clap but i know for a fact that doesn't work for everybody
i personally have almost 10 different sources of income and i'm telling you right now i still need
to find more ways to figure it out and i know i understand lifestyle inflation is a huge thing
the more money you make the more things that you want i completely get it but at the end of the day
i definitely do want a couple more things now i don't need it but i'ma still work hard to go
get it and that's my choice and i believe that you have a choice as well and i believe in you
if you want to grow your collection or invest in real estate or get into a new job or create
another source of income whatever it may be the harder that you work the more that you believe
in yourself and i'm telling you right now again i believe in you i know you can do it i'm looking
directly in the camera you in the eyes yeah i'm talking to you right now you can do it i believe
in it go ahead and go get it so anyways at the end of all of this i hope that this was extremely
helpful to allow you to understand your finances and know where to be and really understand your
budget and be realistic with yourself and set a goal set numbers and you may just have a hundred
dollar budget right now and eventually you might go to 500 and then it might go to a thousand that
might go to two thousand ten thousand you might be having a hundred thousand dollar budget i
don't care whatever it is that you set your goal to i know you can go get it so go ahead and go
get so at the end of the day i hope this video helped you get one step forward closer to your
dreams closer to your goals getting all the things that you want going to the places that you want to
go to whatever it may be i hope this was helpful and if you have any other questions again i have
a lot more answers in the hobby to hustle program and hopefully i can answer more down below in the
comment section or make more videos for you in the future i appreciate you for tuning in as always we
definitely got a lot more stuff to talk about when it comes to this topic and it definitely when it
comes to finance real estate and all that stuff tap into my other youtube channel dj willingham
that's gonna show you guys all my finance all my real estate stuff and we can definitely get
a little bit deeper into that so make sure you sub up to that channel as well trying to get
that channel to a hundred thousand subscribers i'm gonna start making way more videos for that
channel just talking about finance interviewing people real estate you name it all those other
factors you're gonna be able to catch a lot more stuff over there and for everybody that's
already subscribed don't worry i promise you i'm making more videos all right y'all i'm out yo if
you enjoyed this video and you want to make extra money or grow your shoe collection i want to give
you a free video with my three tips that were the most powerful that will help you grow your sneaker
collection and make an additional one thousand to ten thousand dollars a month all you need to
do to get this free video is click on the first link in the description or the comment that's
pinned in the comment section that'll take you to a page where you can enter your email address and
i'll make sure that i send you a video right away and if you enjoyed this video again don't forget
to like comment share and subscribe my name is dj i'm signing out i gots to go i'm gone peace
yo if you made it this far into the video drop a comment down below and
let me know what your current monthly budget is and where you plan to have
your monthly budget be in the future all right y'all i'm out