/biz/ - Business & Finance

[Anonymous No.11903319]

What’s the stupidest financial decision you’ve come across?

>friend earns $35k, has ~$40k student loans, no savings
>buys brand new 4Runner at $60k
>Insurance, Gas, and Car Note is about 50% of their monthly income

[Anonymous No.11903336]

>>11903319
this usually happens with people who buy toyotas and jeeps. Get used to it.

[Anonymous No.11903349]

>>11903319
From my personal standpoint:
Probably $3k for a year's worth of personal training sessions.

I was really self conscious about my body at 6'1 and 120 pounds. I'm not 6'1 and 160 pounds so the things I learned and did there did help me in the long run, but I probably could have learned them myself if I searched the internet and applied myself.

[Anonymous No.11903369]

>>11903336
>no debt
>$45,000 savings
>bought a jeep for 10 thousand fucking dimmadollars
I fucking hate it. 16 mpg

[Anonymous No.11903495]

>>11903319
>What’s the stupidest financial decision you’ve come across?
Not selling

[Anonymous No.11903571]

>>11903319
The $100k loan I took out to buy the "dip" earlier this year. I'm down like 80%.
I told myself back then I'm OK with crypto going to 0 because at least I'm taking a risk. ;(

[Anonymous No.11903617]

>>11903571
The absolute state of biz

[Anonymous No.11903642]

>>11903571
Your average bizlet right here, justifies his own money going down the drain because he atleast he took a “risk”, nah you just trusted pajeet samefagging with multiple ID’s

[Anonymous No.11903681]

>>11903642
Oh well. I'll have the loan paid off in 6 more years. If the crypto market doesn't take off in that time period, then we're all fucked.

[Anonymous No.11903682]

>>11903319
Coworker earning ~$50k/year buying a $44k Tesla vehicle on a payment plan even though the CEO said the company was in dire straits.

[Anonymous No.11903896]

>>11903495
JUST

[Anonymous No.11903933]

The average person doesn't even know how to cobble together like $1,000 in savings

It is actually exceedingly easy to get wealthy off of these peers

[Anonymous No.11904019]

I have a friend from college who is a nigger and absolute shit at finances. He makes about 30K a year, has no car, home, or investments, and about 50K in student loan debt. Lives in a nigger shed with 3 other niggers and somehow still never has money for anything except weed.

[Anonymous No.11904022]

>>11903682
Kek no way

[Anonymous No.11904037]

>>11903571
You can't be serious. This has to be a picture of a student loan you took from the internet.

God I hate you /biz/

[Anonymous No.11904077]

>>11904037
I cashed out most of my crypto gains in January to pay off my student loans. I only had like 20k in the bank when I wanted to reenter the crypto market so I took out a personal loan months later.
>pic related shows my paid off student loans

[Anonymous No.11904126]

>>11904077
If you're not larping, you might be among the most JUSTed on this board

i've only lost $4k, down 70% from my initial and 90% from my ATH, i can't imagine your pain

[Anonymous No.11904243]

>>11904126
Not a larp and I wouldn't say I'm most JUSTed either.
I started with $10k fiat in 2017 and cashed out $80k when my holdings got to $110k in January. Paid off $86k in student loans which saved me like $25-30k in interest by not having to continue making loan payments until 2025. And then I took out the $100k personal loan to buy crypto that's worth like $20k now. The loan will have cost me $125k by the time I pay it off in mid-2024 (7.4% interest). Too lazy to do the complete math but I think I'm slightly in the green or at least broken even. I haven't taken taxes into account though.

[Anonymous No.11904260]

>>11903319
well so far it buying crypto

[Anonymous No.11904270]

>>11903319
that time I bought link

[Anonymous No.11904290]

>>11904019
>weed
sounds about right

[Anonymous No.11904430]

>>11904243
Godspeed, dude. Hope it works out for you.

[Anonymous No.11904727]

>>11904243
Wow, what a tool