/biz/ - Business & Finance

I get my Bruno Magli's at Nordstrom rack for $199. Can't beat Italian handmade loafers. Paid cash for my used Mercedes.

My brother wants to buy a new car soon and told me he was going to get a loan for it

He was disgusted when i told him to just drive a shitbox for a while, save up and buy it ouright like i did with mine

>>1939139
Do you take them to conditioned or anything

>>1939141
>>1939135
Buying new cars outright is literally retarded, with how low interest rates are you would be stupid to not buy a car on finance. Never buy a depreciating asset, stay poor.

>>1939139
I have some of their tassle loafers, broke in real nice

>>1939167
>Never buy a depreciating asset, stay poor.

so going into debt on a depreciating asset is better?

>>1939135

eat out
buy drinks while out
coffee/cig/drug habit
dating a normie
getting loans

>>1939181
With 2 percent interest rate loans, if your money is making at least 2% income in an account it pays for itself

>>1939185
this is why I never started drugs.
they take away from profits, already making it not worth it.

>>1939181
If you want to leverage that money for investing at a higher percentage than the loan itself, I can see the point. But it still has risks like if you lose your job.

Just be yourself anon.

>>1939135

>tfw buy $300 work boots
>they last for years (2+ on mine now with lots of life left) and are ultra comfy while I'm standing all day at work. Morons I've worked with buy and then burn through $60-$80 boots every 6-8 months

>>1939185
>tfw drink 2 cups of coffee per day
>tfw enjoy the shit out of it
>tfw buy a fuckhuge bag of it at costco for like $12 that lasts me for months

All this stuff is within reason, goys. Theres a difference between buying a beer with dinner and being a complete retard with your money

What's up with all those fa threads on biz recently? There's absolutely nothing wrong in buying expensive shoes. You are just illustrate and do not know value of anything.

>>1939135
>Get a loan for a down payment on a 2006 Lexus with 240,000 miles on it
>Buying 400% mark up convenience store snacks with food stamps
>Putting $$$ down on lottery everyday

>>1939185
Convenience marts. Everytime I walk in one to pay for fuel, I am blown away by all the useless calories lurking on every shelf and fridge. Add to that it is all grossly overpriced.

>Had food poisoning earlier this week
>vomiting all night
>dehydrated, need muh electrolytes
>5am, no proper stores open
>shakily drive to nearest gas station
>Hajib behind the counter is being accosted by a meth-head succubus
>variety store across the street opens and has a line of bmx riding men in their late twenties
>Everyone is loading up on cigs, candy, soda
>Facking crackheads
>This was Monday 5am, gotta party Sunday night woo

>>1939190
>>1939167
>stay poor
So if it becomes the same price anyway how does that equate to me "staying poor"

>everyone in this thread takes themselves THIS fucking seriously
Get over yourselves faggots. You know what else poor people do really well? FOCUS ON OTHERS, RATHER THAN THEMSELVES, WHICH IS WHAT YOU ARE ALL DOING.

>>1939192
unless you start to grow or make your own drugs than it will cost you peanuts and you will learn something valuable too

>not buying 500$ shoes that will last you 20 years instead of buying cheap shit which will fall apart after 1 season

Yet you fall for the crypto meme

>>1939875
is it a meme when you make a profit?

>>1939875
500$ over 20 years is 25$ a year, about what a cheap pair of shoes costs.

I just stocked up on this specific pair I like when they were buy one get on half off so I'm set for the next 10 years probably

>>1939135
fags

>>1939892

Yet you look and feel like a poorfag in them

>>1939135
>Take a loan to buy a brand new car
not to be a dick but when you've got credit to buy a new car I'd say you've graduated to middle class.

poor people don't get new car loans. Middle class is anything from new car to timeshare in Tahiti.

>>1939892
Shoes aren't a good thing to stock up on. I did this before and the shoes fell apart from the glue drying out.

>>1939135

Do you guys not realize that auto loan rates are so low that it's advantageous to finance a car if you need one?

If your loan rate is 2% and you can make 7% or more in the stock market, you would have up be a crypto trading autist to not take what is essentially free money

>>1939919
not to mention we're on a business board and a new car is 100% deductible for business use.

free car.

biz can't into biz.

>>1939875
I've had cheap chinese knock-off brands that lasted more that the originals and were fraction of a price. There's a point after which you just pay for the brand rather than quality.

>>1939135
i paid 200$ for lowa boots in 2013 and i wear them all the time and theyre like new. am I stupid?

>>1939135
Take a loan for overpriced designer furniture in a rental condo. Big thing here in Germany...

>>1939139

how much did the fedora cost?

>>1939185
Heard this today

> don't eat food for lunch or breakfast
> spend money instead on drinks while out

>>1939141
Id rather have 500k in the bank making me 7% a year (very conservative rate) than buying something that will lose me money. Finance is always the way to go as long as the rate is lower than that.

>>1939135

Have you ever worn $300 shoes?

I'll wait.

>>1939135
>wasting time on 4chan

>>1939216
Going through 5 pairs of $60 boots over the course of three years breaks even with you - while the money they haven't sunk into the next few years of boots can be put to other uses.

>>1939236
Because you can use it to invest while you pay for the loan.

>>1939236
Because of opportunity cost you retard, read a fucking book.

>>1940431
>in the bank
>making 7%

K

>>1939216
This

>>1939216
>>1941067
You guys completely missed the point. He's referring to nig nogs spending $300 on "Jays" and bitches spending $12 a day on coffee

>>1939135
>have friends
>jerk off with their right hand

>>1939216
Even good boots get trashed within a year in certain lines of work. It is exposure to mud and water that destroys leather. It can make financial sense to have a good pair of boots for dry days, and a shitty pair of boots for the days when they are going to get wet.

>>1939181
It's better if you take advantage of the leverage to invest that money in something with a higher expected ROI.

>>1939185
I am actually a smoker, i spend around 45 Euros a month useless i know, but it's wery hard to stop.

>>1941115
Fuck you I'm left handed, how am I supposed to find that rare Super Buu porn if I'm using my good hand to masturbate

>>1939185
I do all these, they're fucking great

>take out more than one credit card
>actually use said cc
>buy lotto tickets
>plan what they'll do when they're fuck-you-rich but make no plans to get there beyond 'win the lotto'
>get brand name groceries
>eat trendy food even when it's expensive and out of season
>pay to work out (or have a gym membership they never use)
>buy stuff they don't need
>get a house/condo/apartment/car that they can't afford to keep up appearances
>same but with clothes, phones, watches, etc
>buy books, DVDs, CDs, etc. new
>play vidya
>on consoles
>upgrade computer even though it's a Facebook machine
>buy shitcoins
>shill on /biz/

>>1939919
how do you get a loan for a car and not use that money on a car?

>>1941536
>>take out more than one credit card
>>actually use said cc

Good luck getting a loan when you find an opportunity with that non-existent credit, Tyrone.

Actual rich person here. Most of the shit in this thread is irrelevant, and the rest of it is a hindrance to success.

>>plan what they'll do when they're fuck-you-rich
Discontent is the first step towards action. Dreaming leads to discontent.

>pay to work out (or have a gym membership they never use)
Physical exercise is paramount to success in anything in life, it super charges your nuts, and you nuts will drag you to where you want to go.

>buy stuff they don't need
What's the point of getting rich? I don't need my 90in TV, but it's fucking awesome.

>buy books, DVDs, CDs, etc. new
>buy books
>bad
>ever
Jesus fucking Christ man...

>play vidya
If you have to work 18 hours a day, 7 days a week, you're doing it wrong, and there's literally no point unless you're madly in love with what you're doing.

>on consoles
>caring about consoles vs pc
>thinks he's smart and should give advice.

>upgrade computer even though it's a Facebook machine
That's probably why they want to upgrade it.

This board is full of fucking tards.

>>1941693
>how do you get a loan for a car and not use that money on a car?
You invest the money you _would have_ bought the car with.

>>1939185
>not eating out
>not buying drinks

you must truly live a miserable life

>>1939135
Shit that keeps you paycheck to paycheck:
>Starbucks multiple times a day
>lunch out at a restaurant every day
>new car every 3 years
>cigarettes
>boats
>not using tax-advantaged savings
>generally spending money on shit that doesn't improve your long term quality of life

Shit that literally puts you in the poor house:
>payday loans
>bad credit
>buying shit on credit, with bad credit
>not being smart about adjustable rate loans
>addictions
>tax evasion
>flaunting wealth
>keeping up with the Joneses

>>1940434

I'm still waiting faggots.

>>1941746
Banks don't just hand you a check for an auto loan, dipshit.

Also, did you bother to take the 15 seconds to do the math to see how retarded that is?

Earning a whopping 7% on, what, 30k is a grand total of $2,100/yr, then subtract the 2% interest on the loan and you're left with $1,500.

Oh yeah, and your monthly payment of $443 is also stacking up, leaving you with -$3,804 at the end of the year. Because surprise, banks expect their money back, and it isn't just some indefinite chunk of money you get as long as you're paying back the interest.

So great job, you "made" $1,500 by netting a loss of $3804.

That's if everything goes perfectly and you magically get 7%, which you won't.

>>1941772

> Banks don't just hand you a check for an auto loan, dipshit.

They will if you ask nicely.

D A Y

T R A D I N G

>>1941782

>>1941740

You still get credit if you only have one cc, and I don't believe anyone on /biz/ is actually rich.

You don't need a gym to work out. You don't even technically need equipment, but it helps - and can be found at the thrift shop.

Poorfags buying shit they don't need is what keeps them poor. Buying shit you don't need is for AFTER you pay the bills, invest a decent amount, and still have money.

Note that I said NEW. Thrift shopping saves you shittons of money. Go browse a small charity thrift shop. $2 for that DVD you paid $25 for new. $0.50 for your wife's trashy romance novels that cost $11 new.

Vidya is a waste and I mentioned consoles specifically because they're just overpriced and underpowered computers - again, they're for AFTER you make it.

If they're not PC gaming, and they're really just using a computer for e-mails and Facebook, then no, upgrades aren't needed - you can do that on a fucking toaster.

The board IS full of tards, and you're one of them, you lying faggot.

>>1941752

>knowing how to cook and buying booze at the liquor store to drink at home and save money is miserable
>he's never hosted a party

Investing in crypto currency.

Its like the blind leading the blind.

>>1941772

You are forgetting about compounding and the increased liquidity.

This is the correct way to do it. Done over a lifetime in all areas(not just auto loans), the person who does this will come out ahead by a mile.

>tfw fell for new the car meme

At least I learned and can amend for my mistakes

>>1941835
I made 90% of my life savings with crypto

>>1939185
>tfw drink and smoke
>tfw buying cheap whisky from Lidl and smoking 1 cigarette a week

Smoking is cheap if you grow your own tobacco.

>>1942858
The only cost is your health

>>1940431
>7% a year (very conservative rate)

Please show me to the provider of these ludicrous gains

>>1942889
I provide such a sceme goyi- I mean good customer! By the arbitrage of international reply coupons for postage stamps I can triple your investment in little over half a year, with very low risk! Simply provide me with your life savings and I will make 7% a year look very conservative indeed!
t. Charles Ponzi

>>1942889
Lending BTC to margin traders yields 15-20% p.a.

>>1939135
buy actively managed funds
like fucking trash

>>1939135
>$1000 phone

>>1942930
sounds safe

>>1942936
explain yourself

>>1942941
After fees/commission/whatever, 7/10 actively managed funds are outperformed by index funds. So, if you have to do research on what to get, you might as well just do your homework and buy your own stocks straight up.

>>1942889
Many prepaid cards offer FDIC insured 5% savings accounts. The only problem is you have to invest time to maintain them to avoid getting jewed by fees.

>>1942937
"It's free with the plan"

>>1942930
ya im worried about not getting paid back

>>1942989
Exchanges typically cancel margin orders before a default.

>>1939135
Be nocoiners

>>1939922
>deductibe before taxes = tax credit

I shiggy diggy don't.

Decent shoes are a good purchase. You can get good shoes for $300 that last long. Now paying for designer shit on the other hand...

>>1940431
>500k in the bank making me 7% a year (very conservative rate)

>>1940434
i bought a $300 pair of Timberland boots when i was 18. i got the soles replaced when i was 30. now a few years later, they leak a little if it is really wet, but the stitching is all fine, some of the inner lining has worn through, but they are still wearable if it had to.

>>1940711
Yes, like cigerattes and redbull. Like I said, they're morons.

>>1939185
>coffee

Just buy whole beans by the kilo and use an efficient brewing method.
It's a negligible habit even if you drink 5 cups a day.

>>1942686
I bet you drink that whiskey alone.
All you fags slamming the spending money on drinks out thing are the same people the girls never used to fuck in school I guarantee it.
Do I spunk my money up the wall on going out? YES but being 21 I dont really see the problem at the moment if you're going to save £30 here and their on a night out and stay in wanking to anime instead of socializing you can keep your "7%" lol fk that.

>>1939135
Poorfags talk a lot about money and salary.

I remember kids would camp out for those retarded $300 Jordan's/other sneakers, but then sell them online for $200 more it was actually pretty smart.

>>1939216
This
>worked in warehouse offices
>literally running around all day
>get brand steels, 60% mech keyboard
>never had to replace them in 7 years
>laugh as office throw out fucked keyboards and order chink shoes every month
Buy what you need to get your job done efficiently.
Pretty much everyone can save a fortune if they stop and think for a moment about what they really need to get though a month, then you can think about luxuries.

>>1939135

this is what they do once they get a little extra money.

>>1945874
>tfw a modest 30k in savings and I still don't think a TV is within my budget
I'll continue to watch on my 24" computer monitor.

>>1939919
>7% or more in the stock market

WHO the fuck is just casually doing this fuckhead?

>>1946044
reassess your life. If your monitor is literally fine for you, cool man, keep it moving. Otherwise, TV's are dirt cheap. I spent 500 bucks and got a 4k 55 inch tv and it's beautiful. I watch alot of TV and movies when I'm not working and it's been a great investment. The best I can say for anyone in this thread is to not be a miser - you can't take that shit with you when you die. My son's got a nice 529 college account waiting for him and a little extra. My roth is maxed along with my wife's plus some crypto holdings. If I literally have to sit down and agonize over a few hundred bucks then I may as well end my life senpai.

buy other people alcohol
buy consumer electronics like beats / iphone
buy music / tv shows
have savings accounts or CDs
get tax rebates
get car loans
carry a balance on a credit card

>>1946081
$500 = $1300
after 10 years of 10% compound interest

>>1946085
>get car loans
are cheap, often only 2% or 3%
It's smarter to invest your savings in an index fund and take the car loan

>>1946044
a tv is only useful if you've bought into the normie lifestyle and need to watch stuff with your wife and kids

>>1944603
>Just buy whole beans by the kilo and use an efficient brewing method.
It's a negligible habit even if you drink 5 cups a day.

You don't even have to do that. At the rate that Starbucks and similar franchises sell coffee, you still save hundreds of $ / year by just buying a pound of coffee beans every few weeks and brewing at home and taking the coffee with you in a thermos.

I buy a special roast that is roasted in the port of my city and it costs 12.50€ per 500g (which is quite expensive), but I get around 10l of coffee out of this - which is 0,625€ per 500ml of coffee and not only tastes way better than Starbucks but is far cheaper. Of course you can always go cheaper, but even beans go bad at some point and if you want the best taste, fresh roasted is a must.

tl;dr: Even "luxury" coffee is cheaper if you make it at home and take it with you. NEVER buy coffee from a franchise.

>complain about poor people on an anonymous taiwanese blockchain discussion board

>>1941536
>not using a cc
That's pretty stupid for someone who browses /biz/

I use a cc to pay for everything. I've never payed a cent of interest, but i get cashback for all my purchases. Literally free money.

>Not using Alibaba or Amazon to buy home goods/groceries in bulk

>>1939167
He doesnt buy a shitbox for 2k and drive it till it blows.

Its lile these anons love being por

>>1940431
Nice bait

>>1944857
>I bet you drink that whiskey alone.
You're damn right I do, I'm a deeply unhappy person

>>1946860
This

>buying a used car with a credit card for the "points"

>>1946700
No fees at all?

>>1946090
Is it worth paying $800 to reduce your entertainment significantly for 10 years?

Cost goes both ways

>>1946700
>>1948057
No fees at all, depending on the card and provider
>tfw got an American Express Platinum everyday cashback card
>buy everything i possibly can with it
>my friends see me paying for things with it and think I'm some kind of high roller because they know about the Platinum Card
>mfw they think this and don't know I'm a frugal jew paying no yearly fee and making sure I never miss payments so Amex are literally paying me to use it

>>1948057
if you shop around then depending on which country you're in there should be one with no yearly fees, no transaction fees (in your local currency) and with cashbacks and it might have other offers too. the only catch is a currency conversion fee (which is normal for almost all payment methods anyway) and an interest rate if you miss payments (you should pay your bill in full at the end of each month).

So that's what the illuminati got, and I got a space alien.

>>1939919
On the other side of the same coin, used car prices are at a historic low as well

They wonder why rich people do things like spending 100k+ on car

>>1942941
Just put it in the S&P no need to pay some faggot who's probably not even gonna beat the market anyways.

Take out equity on home for frivolous purchases

Finance furniture / appliances or even rent them

>>1939135
I'm a priviledged ethio-faggot living in Addis and although I'm not poor, I frequently find myself having empty pockets and here's why.
>take a seat at a restaurant; bar; coffee shop; etc... with anyone other than yourself
You'd think that your "friends" tagging along and ordering not one but a couple of laggers would have money in their pockets, but wrongtrump.jpeg
>buying an expensive pack of cigarettes
I always smoke marlboro reds, and while not that expensive they are nonetheless relatively costy. What's the problem with that you might say, well... try hanging with a crowd that smokes. You'd be lucky if your pack lasts an hour
>carrying more money than is needed to get you through the day
Again, the aformentioned leeches will bleed you dry
>having a car
literally no one thinks that gas costs money
>spending frivolously on trivial things
those little spendings quickly add up

tfw it's hard being one of the few priviledged lads in a country that is dirt poor

>>1949883
trying moving to a different country.

or better yet, hide your money from others.

>>1949883
Invest in your country ethio-fag.
maybe open a photocopy shop or smth.

>own pairs of $1k+ shoes which I have worn for years and will continue to wear for years
>poor people like to tell me that I'm stupid for doing so while drinking £10 coffee every morning and buying new iPhones every year

Why do people see expensive clothing criticised as a consuming habit so much more than everything else? I understand for dumb shit like muh jordans that are made in the same factories by the same child slaves as literally any Nikes, but I'm talking about artisanal shit. But people have the exact same view towards it

Clothing is just a hobby of mine. A sustainable one, too, since high quality garments hold their value incredibly well, even increasing in value in some instances.

>>1944036

Thought you were about to say they're the worst shoes you've ever had and $25 Walmart shoes would've done just fine.

Interesting

>earn $11/hour serving
>go out to eat at relatively expensive restaurants
>always pay for other people
>buy new car
>complain they always have no money

fuck, I need new friends.

>>1950173
They think its overpriced because they cant even imagine that a shoe can be worn for 10+ years.

Never bought a shoe that was that expensive, though. Most expensive one was 250 €

>>1950359
Yeah, paying more than that is point of diminishing returns/collector/hobbyist tier, which I am firmly in.

But my point was that at even $250 for a sturdy, well-made, lifetime investment pair of shoes, you still get plebs saying "haha I can get the same thing for $40 at walmart"

>>1940434
Yes, they're worth it. Also you can get seconds quality for significantly cheaper. My last major purchase I picked up a pair of wingtip boots that retail for $450 for $170.

>>1941826
>Thinking his friends would want to come over to his place every weekend
>He's never hosted a party

>>1950173
>>1950359
>tfw spent £10 on primark shoes made by chinese slaves
>still wearing them 7 years later after I've personally repaired them with superglue, tape, and stitching

>>1939141
The telltale sign of a dipshit IMO. My family owns a repair shop and you wouldn't believe how negative some people are on their shitty base model BMWs.

I milk them for whatever money they have left :}