he coins the word expencity. >> thank you for being with us and describe expensity for me. >> it is expensiveities to live in such as san francisco and new york. >> what strategies? because god knows i have not figured it out yet. >> when i talk about budgets people think of like dieting and their eyes glaze over. staying simple with concept is a good thing to get people engaged. i come up with something called the paycheck test. it is basic. you take your paycheck at the end of each month and you say did i spend the same as my paycheck or did i spend more? >> did i invite a wealth management guy here to say don't spend more than i earn? >> there is no hard in fast rules. that's one of the things that we were going to get through next which is the 50/20/30 budget rule. its got to be a loose guideline and everything has to be individual. it is rather challenging and inexpensity to make it work. >> you hear people say you should not spend more than 30% of your income on housing or rent or whatever. you can't even live in san francisco. >> most people well over 50, 50 is a real kind of alarm red