[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 377 KB, 1280x800, melan-wire.png [View same] [iqdb] [saucenao] [google]
2721904 No.2721904 [Reply] [Original]

So after taxes are taken into account, I won roughly $10,000 gambling a couple of nights ago.

The only problem is what am I going to do with it? I live basically paycheck to paycheck but I don't have many loans or debts to pay off aside from my student loans from college.

Should I just put it towards my student loans? I still owe like $25,000. Would it be worth it to shave it down some? Should I invest it into something like Bitcoin? Get a new car? Mine is from fucking 1997. It's going to break down soon, I can feel it.

I've never been good with money. At all. Please give advice.

>> No.2721914

>>2721904
convert it to bitcoins and send it to me

>> No.2721930

Turn it to $40K by buying XRP and holding until January.

>> No.2721940

What kind of gambling?

Are you good at poker, sports betting, horse racing or dfs?

If you play a skill game like that, you could potentially turn that into your bankroll and use strict BR management to double your cash in about 6.

I won $1,500 playing poker last night from a $100 buyin

>> No.2721945

>>2721904
What are you student loan interest rates, and what kind of car do you have? What are the problems with it? How often do you drive it?

The car's old as fuck, but if you've taken care of it, it could still get you from point A to point B with proper maintenance.

>> No.2721983

>>2721904
Real financial advice from an adult here.

Questions.

1.) What interest rate are your student loans at? If >5%, you'll want to pay this off first.
2.) Do you have an emergency fund? Guessing not since you said you live "paycheck to paycheck". Take 2 months of living expenses and put it in a savings account.
3.) How many miles does your car have? If still driveable, keep it. Or take 6-8k of your money and get yourself a decent 3-5 year old car with low mileage on it.

No bitcoin. No new cars. Don't burn it all, you dumb kid.

Take it and invest into a better future for you. This may mean paying off debt (debt is negative income) or securing a reliable vehicle.

It depends on your situation what choice you should make.

>> No.2721999
File: 184 KB, 435x443, 1464043831397.jpg [View same] [iqdb] [saucenao] [google]
2721999

>>2721904
Well that's a thinker. If you didn't have those huge fucking debts, I'd say invest in crypto, but you've got huge fucking debts... You probably should be responsible and just pay off some of that student loan debt, but that's under the assumption that you're going to hit the rest with full fury and pay it off quick instead of doing stupid shit with your income, like gambling. Since you're you in your situation, either go all on on a shitcoin, or just buy hookers and blow, because you're a gambler in heavy debt anyway and probably won't do anything to fix that regardless of being up ten grand. Otherwise, grow a pair of testicles, be the man your dad failed at making you, pay debts, and start investing smartly instead of gamblin' with da boys, and join us in lamboland.

>> No.2722008

>Living paycheck to paycheck
>Not knowing what to do with extra !money

This is why people are poor. Not because of color or being "unlucky", but just being ignorant of how to deal with finances.

>> No.2722045

>>2722008
Majority of people know jack shit about finance in general.

How many people do you know that could do their taxes by hand?

>> No.2722093

Put it all on BTC. Its not really your money so the risk is irrelevant