/biz/ - Business & Finance

>>18180452
>1k life saving
#sad

>>18180461
FUCK YOU I WORK A MINIMUM WAGE JOB

>>18180532
>1k life savings

How long did it take you to save those "life savings"

>>18180556
20 years

>>18180532
work two minimum wage jobs loser

>>18180572
OK, let's run some numbers on your "life savings".

>20 year = 240 month
>1000/240 = 4.16
>minimum wage in uk = £8.21
> let's adjust that down to £5 to account for rises
>let's assume you work a 40 hour week, and that there are 4.5 weeks in a month
>40*4.5*5 = ~£900 a month
>£10800 per year
>£216000 over 20 years
>at 2% interest you would have to save about £4.50 per month to make 1000 over 20 years

Are you honestly telling me anon that you can't scrape together more than $4.50 a month to save. Furthermore, are you telling me that you have been stuck in a minimum wage job for 20 years?

>>18180572
You are not me stop pretending to me.
>>18180556
I have been saving for 4 years on and off. I am 26 years old

>>18180707
based retard

>>18180726
So you have made £44000 of those 4 year. What the fuck are you spending it on that you can't save more than £1000? I guess if you're stuck in a minumum wage job for 4 years, you may be too stupid to be investing, but I'll give you the benefit of the doubt.

Take this advice, don't trade with your life savings, you absolute mong, use spare money. You should be buying something safe eith your savings like an index tracker.

>>18180726

larping or what? you're saying you put aside $20 a month for four years, put it all in dax 30, and lost... what... a few hundred dollars at most? literally just go suck a couple of dicks on the street and you can make that back

>>18180784
the dick to dollar ratio in great britian is heavily inflated, he wont get his money back quickly

>>18180452
The Eternal Teuton is a diligent and obsessive foe! His weakness is his autism.

>>18180782
£33,600 actually I wasn't working 40 hours a week, I have also had less than responsible saving and then there was rent.

>>18180784
Man this whole corona shit popping off, I can't exactly do that I might have to do something when this shit end if it got desperate or not I really do not want that though but I do need my money back..

>>18180943
At least you didn't went all in, do you have debt?

>>18180943

Just treat it as a comparatively cheap lesson. Honestly there's no point in putting any of your money into anything other than cash until you have at least $5k or so saved up, that base of liquidity is important for shit like keeping your car running and rent paid if something like what we're seeing now happens.

Honestly, once you're financially a little more secure, I'd say just install one of those millenial spaceship acorn apps that act as a frontend for Vanguard with slightly worse returns but no brokerage fees. Save very slowly into that so you aren't tempted to touch the money. Stay away from stocks until you have an amount you're willing to throw away without getting upset and posting a crying wojak on /biz/, and then never throw more than a quarter of that at a time into anything.

>>18181017
This

>>18180979
I owe about £3000 for my car. Got that down from $5000 over a year, I only stopped spending like a retard a few months ago.