/biz/ - Business & Finance

>>53306759
Pay off your debts you dingus.

>>53306759
Buy crypto you dingus

>>53306759
How much is your car payment, and how much do you already save each month?

>>53306759
how much do you have laying around, is 7k 100% of your money?

>>53306890
250 a month
>>53307060
I have 8k
>>53306782
>>53306794
Uhhh. What do I do?

>>53306759
as long as the rate is fixed to 4% and wont spike to 24% on some kikery then just keep making the regular payments and save your capital to make more money elsewehre in the markets

>>53307260
250 a month is the payment, how much more than that do you save every month? What's your income?
It might be smart to keep making minimum payments and use that money to do something else instead since you have a good rate

>>53307260
Pay off the 7k, use the 1k for shitcoin gambling.
Pay for what you need to before you start taking risk on what you got.

>>53307260
yeah dont blow your whole wad paying it off yet, having an emergency reserve of cash is always more important. 8k is not a lot of breathing room but its better than 99% of america so keep that money as a backup. what if this week there was a big crash in prices on something you really wanted? you would kick yourself for not having the money available to buy the dip. 4% is pretty low and you can always speed up payments later and pay the rest off as debt gets smaller. like when you get to 2k if you feel like it you can just pay that off and you would still have 5k of emergency money (and thats assuming you didnt save anything from now until then so you would have much more)

of course my advice would be different if you were getting jewed at like 25% APR thats variable and going up every month so keep an eye on your rates. the fact you are bothering to figure this out shows me you will be successful and make it. you are probably in the 1% of people your age who consider these things

>>53307309
stupid advice but typical of most people today. what if some emergency happened and OP became homeless? what if his house burned down and he needs to go live in a motel for a while or buy some new shit? theres a million reasons why you should have an emergency reserve of cash, i dont know how people go through life without at least $5,000 in reserve which is basically enough to live for only 2 months in the USA. what if his car broke and he needs an $1,800 repair? but because of your advice he paid off the car and only has $1,000 in savings? now hes dead in the water and cant get to work or buy groceries. you need to stop thinking like a 13 year old crypto kiddie and start thinking like an adult

>>53306759
pay denbts dummy why you in denbts like greece?

>>53306759

>Should I pay off my car for 7k
$7k left on your car? So, it'll be paid off in like 2 more years? Just leave it, it's good for your credit to make payments.

>buy internetcoins
Fuck no, if you blow your $8k on shitcoins, you'll end up roping.

>house on the next leg down?
Only if you have a steady job you KNOW isn't in danger, you don't mind living in that house for the next 30 years and you can easily make the monthly mortgage payments without too much stress on your finances.

If you only have $8k saved up, you really shouldn't be doing anything OP. Calculate your yearly expenses. Save cash until you can at least survive for 6 months without a job. Then you can start focusing on investing, or buying a house.

save 14k then pay it off. when it is paid off, that that 250/mo and dca it into investments instead of the car payment.

>>53307435
I still live with my parents. I was thinking of just buying it and renting it. Maybe sell off next bull

>>53307373
I was expecting this to turn retarded, but this is actually solid advice. Keep at least 3 months of expense money on hand, maybe more like 6 to be super safe and pretend you don't have it. That or maybe put it in a money market account or something safe.

>>53307468

That's very good OP. My mom lives with me and I'm 28 years old. It really helps the finances a lot.

Maybe, I would just recommend studying a lot about real estate and macroeconomics if you really want to go down that path. Don't go in blind. Everyone thinks they're a market guru in a bull market, but what recessions and higher interest rate environments do is separate the real geniuses from the plebs. Everyone with a 60/40 traditional portfolio last year got annihilated by like 20% - 40% depending on their investments.

>>53306759
Go on fb marketplace and look for a house
try getting a loan from the bank @cheap interest or just do land contract / seller financing (you put small down payment and make payments directly to owner)`