/biz/ - Business & Finance

>>57944287
>57944287
MY BROTHER IN CHRIST! I am here to commiserate. I too have a budget all laid out in Excel and know ahead of time how little I will save by the end of the year. Let me see if I can help you:
>How does anyone afford to save up for nice things?
1. Parents. 2. Without parents, they don't. They fund their purchases with debt instead. If you want some light reading, Google the amount of auto loan, credit card, and mortgage debt held by the people of your country. The entire world is shackled in debt to the wealthy. This is not a drill.
>Could, technically, go live under a bridge and shower at the gym / office but I quite enjoy having an apartment.
Reducing your expenses / "cutting costs" in corporate bullshit speak will increase your rate of savings... but it will come at the cost of your actual lived day to day life and lead to other problems farther down the road. I have gone this route before. The lessons I learned were worth trying it out:
>Crockpotting and meal prepping dinners for 6 nights all at once and freezing left overs
>Only shopping at thrift stores for clothes
>Selling or trading excess property that I didn't need
Things like that were productive lessons learned. However, I ultimately summed up the dangers of living my entire life this way with the following phrase:
>You can't cut your way to profit.
So my advice to you is to practice living leanly and thriftily and focus the sparse money you do have into things that are worth it because you have so little of it. Also, get great at picking up women with personality because dates are out of your budget.

The truth is the truly wealthy own everything and the rest of us fight for the scraps. It is essential that you really think hard about what your values are in this environment.

>>57944287
I don't believe you. Show your calculations.

>>57944287
$72,000 in Australia is not good money. “Good” money starts at 90K anything under is just surviving in this shithole.

Try harder. I'm a Canadian making $24k USD/year doing a mcjob and saving $5k/year. I actually get $1500 back from taxes

>>57944472

Fortnightly pay and accounts.

2,000 take home after tax, medicare, and HECS. 1,400 spent on essentials.

20 phone
30 internet
50 water
670 rent
70 power
200 food
110 Myki (this is for public transport)
60 MCC
40 gym
150 physio

>>57944560
I never said it was good, mate. I said it was my first big kid job.

>>57944593
Where am I going wrong?

>>57944791
Tf is physio? Get rid of that and the mcc and gym just work out at home. Reduce food as well just cook at home.

>>57944287
>s fight for the scraps. It is essential that you really think hard about what your values are in this environment.
>>57944358

Salary 72k hell

renting a room $850( internet and utilities included ), kinda annoying even living with hommies

gas $50 I live 5 minutes from my work

insurance $80

phone $30

groceries $300 I cook try not to spend money eating eat unless i'm going out in the weekends

eating out $250 I usually go out 2 or 3 times a month

subscription patreon $10 IA video maker ad costco

emergency saving $100

cloths and other bs $100

stocks 401k 10%

crypto everything else
>I dare you guess what I'm holding

>>57944358
> Let me see if I can help you:
Thank you, mate.

>. Parents. 2. Without parents, they don't.
Fuck me, that's bleak.

>Reducing your expenses / "cutting costs" in corporate bullshit speak will increase your rate of savings
The freezer I currently have is too small for meal prepping but that will be the first big ticket item that I save up to buy. I completely agree that food prepping will bring my costs down a ton.

> Also, get great at picking up women with personality because dates are out of your budget.
Haha, that's always been my go-to. I just take them to a local park or to explore a museum / gallery.

>>57944791
I thought the rent was 1,000 but it appears I messed up the maths of how the payment works. My apologies.

>>57944287
>What the actual fuck? How does anyone afford to save up for nice things? I'd love to have kids, a house, and a car someday but I just do not understand how that is possible.
The kikes never actually expected you to make it this far, so in their arrogance they figured they didn't need to bother with keeping up the façade past a certain point anymore. For the handful of us who were fortunate enough to make the cut and advance thru to the 'next round'; by the time we realize that there is actually nothing better here waiting for us and no satisfying answers to be had, it won't matter anymore. Too few fighting too many with too little.
So for real tho anon, welcome and congrats on reaching this formerly meaningful life achievement/milestone. I truly mean that.
However, you'll soon come to find out (much as the rest of us here did) that the only thing you've won is the right to continue playing the game at the same difficulty level as before. The right to continue trying to endure - because games that never get any easier by design aren't games of skill.
They're games of endurance.
Godspeed fren.

>>57944842
>Tf is physio?
Physiotherapy, mate. I injured my knee a few months back and have been getting rehabilitation.

>Get rid of that and the mcc and gym just work out at home.
The MCC is something I attend multiple times a week and will need later in my career for networking. If I drop it now, I won't be able to pick it back up. It is a 20+ year waiting list.

>Just work out at home.
I don't have the space to have weights at my house and even if I did, the cost of buying them would outpace the cost of a yearly gym membership.

>Reduce food as well just cook at home.
I do cook at home. The majority of the food money goes towards hitting my caloric and protein goals. I am not buying lobster or anything wild like that.

>>57944287
If you get rid of mcc you’re a fucking dunce

Use it and pump up some rich chick you meet at the bullring

Go bombers

>>57944287
Imagine getting paid 1 BTC a year.

>>57944920
No chance I lose the MCC, mate. I go every chance I get and have already had the opportunity to take a couple of colleagues to games.

>Use it and pump up some rich chick you meet at the bullring
I actually really rate that. How do I fall into conversation with them? I've already got the concrete cowboy aesthetic down pat with my RM Williams, chinos, and buttonups.

>>57944937
I don't get paid 1 BTC a year. I get paid $72,000 AUD.

>>57944887
>So for real tho anon, welcome and congrats on reaching this formerly meaningful life achievement/milestone. I truly mean that.
Thank you, mate. I do appreciate it. Never thought I'd make it this far honestly.

Is there any way of breaking through this point and reaching the round after this?
What film is pic related?

>>57944863
>subscription patreon $10 IA video maker ad costco
What is this?

>>57944287
Get in here anons. 2k market cap and LP is burnt

https://dexscreener.com/solana/jaj94ye1awstrkmv1pymkrgfqsrtpnzcgf8pydrwdchq

>>57944287
i am a kiwi, i imagine the situation is pretty similar over there. to save up any significant amount of money you will need to get flatmates, live with your parents, or get a gf and split rent for a 1 bedroom. to buy a house you need to be buying with your gf/a second income just to service a mortgage. not sure what rates are in aus but here they're 7%+, more for floating. even if you have a big deposit through saving for years or money from mum and dad you will struggle paying a mortgage if you're single. also your income is pretty low. pretty fucked society

>>57944287
also try get physio, medical care etc through your work. if itsany kind of physical job or there is a union involved most workplaces will have an associated med insurance scheme

>>57944287
>only have $7,000 in savings
This is more than the vast majority of people get, you dumb cunt. There's this thing called "investing." If you "invest" your $7k, it will automatically, through literal Jewish magic that contributes no actual work or value to the economy, mankind, or even your neighbor's dog, grow from $7k into more than $7k. If you "invest" your money and keep "investing" it, eventually you'll have more than the amount of money you initially "invested."

It's true, i was only able to save up half a bitcoin because i dont pay rent/live at parent

My peer and colleague is into crypto too but a rentcuck, he cant even fathom putting that much into crypto, well maybe hes a pussy too

>>57945102
Sadly not for me, mate. I'm a lawyer =/. I will get health insurance once I save up a bit though.

>>57945212
>This is more than the vast majority of people get, you dumb cunt. There's this thing called "investing." If you "invest" your $7k, it will automatically, through literal Jewish magic that contributes no actual work or value to the economy, mankind, or even your neighbor's dog, grow from $7k into more than $7k. If you "invest" your money and keep "investing" it, eventually you'll have more than the amount of money you initially "invested."
No shit, fuck nugget. That is why I am here. I am trying to learn how to do that magic.

>>57945084
>also your income is pretty low
It was the best I could get, sadly. Most first year lawyer jobs were only offering me 55k - 65k. This was a big jump. I completely agree though. It is fucking peanuts.

>or get a gf and split rent for a 1 bedroom
It feels so fucked up that I need to be wary of someone's financial situation when going on dates but I feel you, mate. You might be onto something here.

>>57944971
>Is there any way of breaking through this point and reaching the round after this?
In order for any insight like that to have any value it almost always has to be based on some prior experience and/or success at what is being attempted and I would even argue that the win conditions for us haven't even been clearly defined much less fully agreed upon. I'm nobody impressive. Just another guy that was able to play and hang long enough to at make it to this stage of the game just like you have. So as much as I wish I could proclaim to have any good advice for navigating the world we now find ourselves in, I can't. None of us can. Sure, plenty of people may have already lost, but as of right now nobody's won yet.
Because the game is still being played.
About the only whitepill I can confidently give you right now is that we are in fact playing a game of endurance and not a game of skill.
1/2

>>57944971
>>57945681
2/?
And the one good thing about being in a game of endurance is that is is supremely favorable to the underdog because most of the externally controlled variables that would normally decide whether you win or lose are removed from play. Skills and natural talent that might be inherently beyond your ability to ever attain - advantages your opponents probably already possess and would easily leverage to force your defeat in a skill game - now don't matter quite so much, if they matter at all. The game's set of rules (be they legitimate or arbitrary) which could also be used to otherwise disqualify you from playing or prevent you from attaining a true victory condition are also significantly less important and usable as weapons that can be used against you.
A game of endurance eliminates all those variables/options/paths to victory (most of which you were already excluded from exercising at the game's outset) and replaces them with a single one that you DO control:
>the game can truly only end if one of us says "i quit"

>>57944287
how much % are you effectively taxed?

>>57944791
>2000 a month
>72000 a year divided monthly is 6000
>paying 2 thirds your pay to taxes to live as a poorfag
Perhaps try living in a less cucked country

>>57945859
>>57944971
>>57945681
4/4
And it doesn't take any natural born skill or intelligence or wealth to out-tough and out-endure somebody. Any retard can plausibly win with that strategy. It is the oldest and most basic fundamental human skill-tree that exists and the only one that is accessible to every person/competitor equally regardless of any other existing advantages because it is probably the one compete factor you could say is 100% within your own control and yours alone. Your opponent, no matter how more overwhelmingly more powerful or smart or skilled or favored he might be on paper, simply put, cannot beat you entirely of his own accord.
In other word's: the only way you can be beaten is if you, of your own volition, choose to be beaten. The presence of more than one party on the battlefield implies relativity: that a surpassing of one of them over the others in some meaningful way (at least as far as the rules of the game sees it) is not only inevitable, but necessary as it it the only way of measuring said relativity. Thus, any game played against others means you have to 'win' , but for a game played against yourself, you no longer have to 'win' to come out the eventual victor. You simply have to refuse to lose and refuse long enough until the opposing player hits his own limit and ultimately makes the final decision for you. You don't have to convince your opponent or the refs or the spectators that you are the better competitor and more deserving. You only have to convince yourself. That is the whitepill.
You win by being the best possible version of you, not by being a marginally better version of your opponent.
And that is exactly the sort of game I will always be willing to enter and play regardless of the stakes and regardless of the odds against me.
Because it's not gambling when you're betting on yourself.

oh and the film is U-571 btw

>>57944287
Are you renting a whole flat or a room in a shared flat? What's the salary growth like for lawyers in Australia - if you progress well, what are you looking at earning five/ten years from now?

>>57944791
You're take home is way more than $2,000 a month. You are doing something wrong with your calculations

>>57944287
Imagine being the size of a grain of rice and trapped there, in her underboob, while she was at the gym. She'd be working out and you'd be forced to endure the heady aroma of her feminine musk until inevitably drowning in her sweat and body oil.

>>57945678
>No shit, fuck nugget. That is why I am here. I am trying to learn how to do that magic.
Buy index funds. That's it. Like Durbalf Tramk, you could try to be LE BUISNES WIZARD, but also like him, you're unlikely to beat the performance of index funds over any long period of time.

>>57946016
try reading properly

>>57944954
>1 BTC is worth more than the median Australian wage
What a time to be alive.

>>57944287
If you don't have inherited wealth, you're not going to make it.

>>57944791
rotfl I make just over 50k and pocket more than you. Fell for the uni meme

>>57945911
In Australia you are taxed at different rates for different amounts. My highest tax bracket is 32%.

>>57946016
Wild.

>>57946120
Cheers, mate. I'll check it out.

>>57946139
Renting a one bedroom apartment.

> if you progress well, what are you looking at earning five/ten years from now?
Could be anywhere from 80,000 to a million a year. Just depends where I end up. Ten years is a long time in law, haha. The big pay jump is after two or three years when you are a fully qualified lawyer who can practice without seniors signing off on your work.

>>57946169
Am I? I just plugged it into a few Australian tax websites and picked the middle figure of all of them.

>>57946203
How do you choose an index fund and how often do you DCA into it? Would putting my money into an index fund mean that I cannot access the money for twenty years?

>>57946518
That's upsetting.

>>57946625
How do you pocket more than me if you only make 50k? Do you live with your parents and not pay rent?

>>57946109
>>57945859
>>57945681
Fuck, mate. I really rate that. That's deep. Thank you. Do you have any idea how long this game will continue? When do you think it might change and a new game becomes the meta?

>>57946996
More like $4,500 a month lmao

>>57947083
Okay, so I was off by $76 a week according to your app? Cool. Is there a meaningful difference in 7k savings versus 11k in savings? The point remains. How the fuck do I afford a house, kids, and a car with such little take home money?

>>57947211
You're take home would be $4,500 a month. minus expenses would leave you $3,100 a month which is $37,200 annually in savings

>>57947254
Where am I going wrong on my calculations? I can see where you are going wrong but where am I going wrong?

>minus expenses would leave you $3,100 a month which is $37,200 annually in savings
It would be $2,800 in expenses each month. That is $1,700 in savings each month if your figures are correct. That's dope that it is $20,400 in savings each year but where did your figures and my figures go wrong?

>>57947339
Oh, you're expenses were per fortnight. So yeah , you would be saving $1,700 per month.

>>57946996
>Could be anywhere from 80,000 to a million a year. Just depends where I end up.
If you rate your chances of getting to somewhere in the middle of this range, I wouldn't be too concerned about your ability to save in the short term. I don't know how much of a rush you're in, but it sounds like you have the potential to build up millions in savings over the course of say twenty years of work.

>How do you choose an index fund and how often do you DCA into it? Would putting my money into an index fund mean that I cannot access the money for twenty years?
I DCA about every month, but the right frequency might depend on the fee structure of your broker. The easiest way to buy index funds is probably by buying ETFs. You can put in effort to decide which regions and sectors you want to invest in and then pick ETFs covering those, or you can just pick some very broad ETFs - e.g. there are ETFs for things like "global large cap", which try to cover the whole world. That kind of ETF tends to be low fee and pretty retard proof. I personally stick to regional ETFs covering Europe, North America, and Asia Pacific. Your money shouldn't be locked up, I don't know what Australian brokers are like so there might be products where you do lock up your money, but in general ETFs can be bought and sold freely. Also when choosing ETFs you should obviously pay attention to the fees, which will probably be called either "TER" or "OCF".

>>57947366
Oh, sweet. Was that the only error we both made? Thanks, mate. With the $20,400 in savings, how can I accelerate my financial independence / growth?

>>57947388
I honestly have no clue where I'll end up. The reason lawyers at the top end are paid so well is because they work less as lawyers and more as influencers / they bring work into the firm. Sure, to get to that point you have to know your shit and be a good lawyer but that is far from being the most important part. I've met plenty of blokes who were mid to late 20s who were partners at big firms and only there because their dad runs a company that is a big client. Alternatively, I have also met plenty of lawyers in their 40s and 50s who have never had a sniff of being a partner because they have no connections and are average lawyers.

> I don't know how much of a rush you're in
My fear is that houses will only continue to get more expensive and I fear that if I do not strike gold soon, I may never have the opportunity to break into the housing market.

> it sounds like you have the potential to build up millions in savings over the course of say twenty years of work.
I'd love to think so! I've met a few lawyers who charge $10,000 a day (not sure what their take home is) and live absolutely fucking wild lifestyles.

> the right frequency might depend on the fee structure of your broker.
Is there a way to view all the brokers and find which has the lowest fees? Are there better services that you get with higher fees? What do these better services do?

>Also when choosing ETFs you should obviously pay attention to the fees, which will probably be called either "TER" or "OCF".
Thank you very much, mate!

> You can put in effort to decide which regions and sectors you want to invest in and then pick ETFs covering those
Is there more volatility in particular regions? How closely do you follow your ETFs? Is it the kind of thing where you look at their performance weekly, monthly, yearly?

Ooft I know your pain bud I was in your exact situation 4 years ago but I saved like a nutcase and now partially own (still owe the bank 450k) a 850k house, have a wife and a baby and now I get paid 135k I can give you some advice.
>read about what you’re entitled to claim on your tax return, bend the rules a little if you have to just make sure you keep receipts etc or have some evidence eg, required work travel have something in writing etc
>put in a little extra effort to make your own lunches and coffees etc to take to work, a couple of $20 lunches a week adds up to 2k a year.
>find a good woman who you trust, marry and buy a house together, much easier to get a loan, as long as you’re in a position where your wage will increase and you can comfortably make repayments if you want to have kids(maternity leave is paid by the government and it’s calculated on minimum wage), and childcare will eat your fucking money if she wants to go back to work, you’re not in this position yet but remember this, this is important, only get a loan you can afford in the future when things change!
>if you’re in a position to live in a shit rooming house/rent a room for $150 a week instead of the $335 you’re paying for a flat/townhouse now, just do it, do hard stuff when you’re younger. Look at the Indian dudes that come here, they live like dogs for 5 years but those niggas buy houses after that.
>cheap private health insurance with extras and claim your Medicare rebate will probably cover your physio for less fortnightly than you’re currently paying just for physio, and you’ll also get all the extras coverage, use the extras, free massages, sunglasses with lenses, dental etc. research the best one, pretty sure ahm is cheap as
>invest your pennies, don’t worry about increasing your super yet, just set super to most aggressive and every cent you save find somewhere to put it better than just your savings account.
Goodluck

>>57947522
Just invest it all into IVV which tracks the S&P500

>>57944287
100% you need to keep the cricket club membership no matter what.

>>57944947
No idea. I’ve already got a partner but if I was wanting some good breeding stock there I would maybe try one of those “”youth”” events they host

Would be pretty funny to go anyways for shits and giggles

>>57947522
>Is there a way to view all the brokers and find which has the lowest fees? Are there better services that you get with higher fees? What do these better services do?
There will probably be some websites that do feel comparisons, if you were in the UK I'd know where to look but for Australia I have no idea, honestly I'd just start googling "stock broker fees comparison" and see what I find. No idea what high fees get you, I have had to deal with some fairly shit websites and customer service from low fee brokers, but honestly you should rarely if ever need to interact with customer service and as long as the website actually works you're all good.

>Is there more volatility in particular regions? How closely do you follow your ETFs? Is it the kind of thing where you look at their performance weekly, monthly, yearly?
Developing world is much more volatile and I stay the fuck away from it. The regions I invest in are pretty comparable to each other. Honestly I strongly expect the US to continue mogging the rest of the world economically, so it makes up more than half of my portfolio, but I want exposure to the rest of the rich world for diversification and to be less sensitive to currency fluctuations.
I look at my ETFs far too often, but I only actually make decisions about purchases every few months. But really I'm planning to hold on to everything for at least the next decade, so it's not like I'm making major changes multiple times a year, more like minor rebalancing decisions, or maybe I see that my broker is offering a new ETF with lower fees that I can start buying, that kind of thing.

>>57947583
This is all great advice, saving on rent by renting a room is huge.

Reading the responses now :)

>>57944287
.

>>57944791
50 bucks a month for water?
i pay 48 euros for 2 ppl every 3 months
Drop the gym and go bodyweight in a park nearby

>>57944287
>I'll only have $7,000 in savings
kek, are you living alone? Get roommates you fucking retard