Question

Miko makes more than 4000 a month right? Is the 4000 she pays her self from being an employee of TBM? I’m confused at that part.  

Answer 1

$4500 a month is $54, 000 a year. That’s not even “minimum salary” in California (which is currently $54, 080). You can’t survive on that as a single income here.  

Comments

Is the 'minimum salary' usually stated as gross or net? Her $4500 is net.  

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Minimum wage is $12 in Los Angeles that's approximately $25k a year

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@schweitzer it’s Gross, but even Net it wouldn’t be enough on a single income here in SoCal.  

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@cracking it’s currently $14. 25 in Los Angeles. But it’s not enough to live on a single income.  

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@cracking also not sure if you’re aware, but CA has both minimum wage and minimum salary requirements.  

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@thurber explains why I'm broke. with these stupid USC loans that are messing with my credit score. Thank you for doing the math! I make less than $4500/month and I have no idea how I survived all these years living that OC life, LOL

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@marks true grit. ❤️

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@thurber ignorance is blind  I didn't even know it was this bad until I decided to budget as a new year's resolution  

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54, 080 is the minimum for an exempt, salaried employee (i. e. manager, etc. ) $13 is minimum for an hourly employee.  

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@thurber didn't know that because alot of people are making Less than 54 as a salaried employee.  

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@ave618 Schmitt correct, unless you work in a city/county with higher minimum wage, like LA or San Francisco. But the minimum salary is based on state minimum, not city (minimum salary is 2x state minimum wage).  

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@thurber got it! Thanks for the clarification! We have less than 12 people at our company so that's the reason.  

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@thurber yes, I’m in HR I’m aware of all that.  I was clarifying for others because the way minimum salary was stated was it being interpreted as minimum-wage.  

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@cracking the minimum goes up on Jan 1 for the state so be aware that it does exist. I wasn’t being paid the minimum and when I realized that it existed, I have had to fight for it every year.  

Answer 2

She makes approx that paying herself but from what I can gather, she also uses profits from the business for some things which is not in her BBP workbook.  

Comments

@ahoy98 yes that's the only piece I struggle with about her savings goals.  

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@ahoy98 that’s been a tough one for me too. It’s a multi million dollar company at this point so that has to help substantially

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@ahoy98 she mentioned that she had money in her business account and that's how the idea came to save it to purchase the house

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@ahoy98 she’s always mentioned that she is strict about keeping her personal and business money separate due to the tax implications if you co mingle everything

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@velazquez Cabilao correct but she does use her business money. It would literally be impossible to save 400k in the time she did it when she only pays herself about 50k a year.  

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@ahoy98 for her house, yeah that makes sense considering how much she does out of her house. I’m just happy that she set a goal and worked and slowly saved/let an investment grow to achieve said goal vs avoiding debt (not saying a mortgage is bad)

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@velazquez Cabilao agreed, I’m not saying what she did is bad, just stating that she did in fact do that.  

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@ahoy98 gotcha!  

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@secundines lol no it’s not. She’s always been transparent and I don’t remember her ever mentioning that she’s a millionaire. Her budget doesn’t reflect that. She had mentioned that the income does include the money her boyfriend gives for the household and roll over money so it’s not just straight $4, 000 from the company.  

Answer 3

Yes you are correct, we make approximately $6k or more depending on my husbands job we are a family of 5 living in los angeles and live paycheck to paycheck still hoping one day we wont.  

Comments

@cracking yep, my husband makes good money, but we live in an insanely expensive area (not LA expensive though) and we were still paycheck to paycheck because of bills and obligations

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Family of 7 here, Canada we make 6-8k and Don't even make it paycheck to paycheck some weeks. Its crazy.  

Answer 4

She is founder and owner of TBM. Not an employee.  

Comments

@norse4 she is still an employee and pays herself.  

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@ahoy98 She pays herself a wage, but as an owner, not employee.  

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@ahoy98 Owner is the term for sole proprietorship while CEO is a title or position. An owner can be a CEO but not all the time. I was a business owner for 20 yrs. Not sure what your argument is but I'm not interested in having it with you.  

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@cara52 Yes! I think she is very modest in what her pays herself.  

Answer 5

It doesn't really matter lol, what I'm taking away from her is her methods to improve my financial situation. And clearly it works because she's built up an amazing life for herself using her method and working hard

Answer 6

There is abundance in the world! Each one of us has the potential to make that and more and there would STILL be more money to be made. Let’s start looking at our own potential and stop comparing.  

Answer 7

Yes she takes a base salary, as all businesses are going to do. The benefit of owning a business is you eventually get to draw more. Miko throws a substantial amount back into the business so she can remain a debt free company.  

Answer 8

So I’m new to TBM. I was wondering about this topic too. Not that it really matters. In a lot of the older stories on her Instagram or videos, she talks about her job. I wondered, does she still work her regular job and an income from TBM? If so, good for her! I’m just curious if she still has the other income source too. (I’m nosy )

Comments

@alpert93451 no, she quit her job last year to work TBM full time.  

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Oh ok, that makes sense! Thank you!  

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@alpert93451 she used to. She left her regular full time job last year to go self employed full time

Answer 9

Yall gotta really take a step back. Your journey is just that yours. Shes showing you a method using her income. Take the method not her money intake and use it for you. All of this I'm confused about where her money comes from is distracting you from YOUR goals. You wanna make millions, start a business and bust your ass to make it successful. Miko is a business woman. She can do alot of things that we can't. But she showed yall a way to better understand YOUR money and yall up in here questioning the narrative.  

Comments

@faience I get that, lol. I was honest and was just truly nosy. I am a self employed business person but my business, like most, is feast or famine. So even self employment isn’t a guarantee of having the ability to save a lot of money. I started this journey to really slow down and watch where the heck my money was going. Things like travel and buying property seemed out of the question until I hit the winning lotto numbers. I don’t feel that way anymore. I love her approach. I even took a part time job at night to reach my goals faster.  

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I honestly haven’t bought any TBM items. Not that I’m not a supporter but I’d honestly rather have that money in my envelopes. I don’t believe in needing to buy anything to save money. I applaud her successes and her ability to market her way. She didn’t reinvent the wheel, just approached it with her personal experience. That makes the difference. I used to follow Dave Ramsey’s method and Suze Orman and Oprah’s financial fitness. I felt lost. I can follow team Miko because she’s a single Mom like me not because she has pretty books and envelopes. Although, I want to be able to budget for those down the road.  

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@alpert93451 ❤️ you Jude

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@norse4 ❤️ you too sister!  

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@faience great job of explaining it !  

Answer 10

In her videos, she states the numbers don’t matter. Pay attention to the process. Keep in mind , she was making significantly less years ago.  

Comments

@shamblin this needs to be promoted. Folks just nosey

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@faience nose longer than Pinocchio from being nosey

Answer 11

$4, 000 is her paycheck. She doesn’t share her business numbers due to security reasons I think.  

Answer 12

Started from the bottom now she here! Let her be great! Just use the tools she gave you to fit your budget. Her money is just that. She can pay her $10, 000 a month and guess what thats her business but one thing remains the same her budgeting skill. Everyone income is different so mind your business get some side hustles or start a business then you can be on her level. People need to worry about themselves. Miko gave you an inch and yall taking miles. WORRY ABOUT YOU FIRST!  

Answer 13

Sweet Jesus people can ask questions without it being negative. Goddamn.  It’s confusing as hell for people just coming in here to see that Miko gives herself a “salary” of $4500/month (or whatever), but managed to pull $400, 000 out of seemingly thin air in less than a year. (Seemingly, because we know it came from the “business income” but new folks don’t. ) And no, those numbers are not realistic for 80+% of people. A positive attitude doesn’t make you millions on its own and a lot of people don’t have the resources to do more than that.  

Answer 14

A year ago she made like $2000 a month when she was employed at her other job. Miko takes a big risk showing us her personal finances and real numbers, which has been extremely helpful for me because I live near Spokane. Let us not ruin it by discussing it on Facebook. Miko has worked so hard

Answer 15

Her method works thats what matters if you stick to it. i never had any money left over at end of the month and my bills would bounce left, right and center so i would then get bank charges. this is my 1st month starting her method properly and i have saved £100 for the savings challenge and £210 for my emergency funds and not one bill has bounced. Yes her take home pay is probably alot more than most of us make but thats her journey, do your own journey and make your money work for you. I am so excited to see where me and my family will be in 6 months with our savings never mind where we will be in 5 years