PERSONAL FINANCE GENERAL

[Anonymous No.12281162]

Lots of garbage on this board so I figured some of y'all would wanna take a break from all piss and shit and crypto memes and talk about an actual useful topic!

Feel free to post your personal finance questions here and get them answered by other personal finance-savvy anons

[Anonymous No.12281407]

Bump

[Anonymous No.12281416]

>>12281162
I need to have another form of income. Rip

[Anonymous No.12281486]

>>12281416
Or maybe you just need a better form of primary income, anon

[Anonymous No.12281492]

>>12281486
Ok how to do that :^)

[Anonymous No.12281560]

>>12281492
Learn more marketable/in-demand skills
Network and change jobs if you've been at yours for more than a year and haven't gotten any raises
Take on more responsibilities at work to beef up your resume

[Anonymous No.12281692]

>>12281162
>0% food, water, shelter, tendies (live in moms basement)
>5% books, electronics, train pass
>95% investments

[Anonymous No.12281715]

>>12281692
Based and redpilled.
You should consider paying mommy a little rent to make the arrangement sustainable long term. And hug her regularly.

[gommie faggot !!ybZU7IbD8fv No.12281725]

>>12281692
Do you have any money in savings anon? You should keep that separate from investments, so you'll have it for emergencies.

[Anonymous No.12281732]

>>12281162
The hardest part about having your financial shit together is making sacrifices and having discipline. Simple but hard.

[Anonymous No.12281751]

Is it dumb if I spend 60% of my takehome pay on rent to live in a luxury apartment downtown and maybe get a gf?

[Anonymous No.12281774]

>>12281751

Gf’s are way overrated anon. My ex was such a drain on my wallet

[Anonymous No.12281799]

>>12281692
You'd better make sure you get your name on that deed for when mommy dies, or else you could be fucked.

>>12281751
>thinking being a rentcuck is impressive
Rent a cheap place and use the extra savings to save for a downpayment in a few years and own a place instead. That'll be more impressive than cucking yourself with a "luxury apartment"

[Anonymous No.12281804]

>>12281751
You should be accumulating assets instead of chasing the skirt. Try to find a frugal, smart gf who wants to accumulate assets with you. And never get married. You don't want to get divorce-raped. Love ends eventually.

[Anonymous No.12281816]

>>12281732
>making sacrifices and having discipline
Elaborate please

[Anonymous No.12281829]

>>12281799
>rent a “cheap” place

>mfw rent is more expensive than a damn mortgage around here unless you live out of a flood zone trap house rental
>mfw no face

[Anonymous No.12281895]

>>12281829
I feel you my dude. That's why the goal should be to accumulate enough savings to be able to buy something as soon as possible.

[Anonymous No.12281906]

>>12281816
To have your financial shit together means you have to have income and invest a big portion of it.
Working hard 40 hours a week or more is unpleasant and painful. Doing it requires discipline. You also have to sacrifice your free time and comfort to do it.
Not spending all your income is equally hard for most people. People are bad at delaying gratification. Some of my friends are only capable of saving like 10% of their income. Better than nothing I guess. Better than being in debt for sure! Not spending money right now but later takes discipline and sacrifice. You sacrifice today for future.
Investing money takes real discipline because the stock market is really volatile. It is hard for people to watch their life savings melt and they start selling when they should be buying. Investing is a really emotional pursuit. The key is to have a rational plan and obey the plan even when times are hard. This takes discipline.

Discipline predicts success in life better than IQ. IQ cannot be changed much, but everyone can train their self-discipline.

[Anonymous No.12281909]

>>12281804
>accumulating assets
recomendations plz

[Anonymous No.12281922]

>>12281906
TY for the response

[Anonymous No.12281947]

>>12281906
>Investing is a really emotional pursuit
Absolutely this. I "lost" over 5k during the past 3 months (before the 5% jump) and as a first time investor it was real fucking tough to swallow. Just gotta remember you're in it for the long haul and October - December 2018 will be one tiny insignificant blip 20 years from now. Just don't invest any money you plan to use anytime soon and ignore the day to day bullshit and think long term.

And you're right about having discipline. I don't have the highest salary. I make 10-20k less than many of my friends. But I still end up saving more money than them because they blow it all on dumb shit. I bet I'm the only one out of my friends who's maxing ALL of the available tax-advantaged retirement accounts.

>>12281909
Basically save and invest your money instead of spending it on dumb shit like luxury apartments and things that depreciate instantly like new fancy cars

[Anonymous No.12281954]

>>12281906
>Some of my friends are only capable of saving like 10% of their income
Just curious, what do your friends spend money on? The only things in life I enjoy are training, vidya, and internet so my cost of living is very low.

[Anonymous No.12281956]

>>12281799
How, I already have a 6 figure portfolio and a stable career.

[Anonymous No.12281963]

>>12281947
>invest your money
What are good ways to invest money that will generate cash flow? I can think of stocks, bonds, and real estate, but what else?

[Anonymous No.12281990]

>>12281909
There are a few types of assets that everyone can accumulate.
Assets that produce income: real estate, company shares (stock), bonds (loans to government or companies)
Assets that retain value during a crash/depression: gold, cash, short term bonds

Everyone should start asset accumulation by building an emergency fund (cash) of at least 6 months of living expenses. After that income producing assets which protect against inflation should be the main goal. Government bonds pay shit right now, under the rate of inflation (before and after taxes) so I would recommend buying stocks that are not in a clear valuation bubble. International diversification is key.
One way to do this is buy stock ETFs that have shares in thousands of different companies like: Wilshire 5000 Total Market Index (TMWX) and Vanguard Total International Stock Index Fund ETF.

[Anonymous No.12281993]

100k in savings, 70k in 401k 30k in crypto. .How do I make it and quit my shitty job? Should I cash out 401k and go all in ETH?

[Anonymous No.12281999]

>>12281990
I would like to add that if you want to chase higher returns from investing by picking individual stocks you should read 5 books about how to value companies first.

[Anonymous No.12282000]

>>12281963
I don't invest to generate cash flow. I invest to accumulate and grow my wealthy and my goal is to have a $1 million+ portfolio in 15-20 years from now due to compounding interest and re-invested dividends.

In a few years I plan on purchasing a 2-3 bedroom condo and renting out the other 1-2 rooms. Once my mortgage is paid off that will be my investment to generate cash flow.

As far as cash flow goes I just rely on my job income for now with some churning on the side.

[gommie faggot !!ybZU7IbD8fv No.12282020]

>>12281993
Never go all in on anything. You need to diversify to reduce risk. Digital currencies are highly speculative and volatile assets, not a good idea especially to put all your money there.

[Anonymous No.12282028]

>>12281990
What do you use for your short/medium term savings (1-5 year money)? A basic online savings account?

[Anonymous No.12282041]

>>12281990
>>12282000
Ty both for the responses.

[Anonymous No.12282048]

>>12281990
Bonds are also a good hedge in a stock market crash right?

[gommie faggot !!ybZU7IbD8fv No.12282067]

>>12282048
Yeah, two year t-bonds are an especially good investment right now with the flat yield curve.

[Anonymous No.12282134]

>>12281954
They basically buy a more luxurious version of everything than they should. A bigger house, a fancier car, ready/convenient food from restaurants and the store. I make my food myself from the basic ingredients. One wastes money on prostitutes. There are a shit-ton of ways to get rid of your money. I probably can't even imagine all the ways they are getting rid of it.

Don't get me wrong, I have nothing against the luxuries of life. But it is not a smart thing to waste most of your income on them when you are young and poor. Accumulate wealth first and then spend money on fun stuff. This is the way.

Personally I enjoy things that make me better somehow. Investing, reading books with useful knowledge, exercise, talking about interesting and useful stuff with others (10% memes, 90% useful knowledge).

[Anonymous No.12282143]

Im on vanguard. Should I reinvest or use it to collect dividends?

[Anonymous No.12282152]

>>12282143
Not financially independent = reinvest
Financially independent = collect

[Anonymous No.12282168]

Yo anons.
I'm Quite intelligent, good at maths, social anxiety, university student that doesn't go/need to go to college. (too afraid)
No job or any (active) income

I have a student loan at 800 EUR each month. interest is almost 0

what would you do?

[PIC UNRELATED]
[I'M CAUCASIAN]

[Anonymous No.12282176]

>>12282048
Market crashes up until now have been deflationary, so government bonds should do the job. But long term I wouldn't hold them myself. Sell them at the stock market bottom and buy stocks with the money. This is what I would do if I had them in my portfolio.

If we somehow get high inflation during a crash then long term gov bonds will get devastated. Probably not going to happen but who knows what the future brings.

[Anonymous No.12282177]

>>12282143
Reinvest if your focus is accumulating a large portfolio in the future. Collect them if you want some extra pocket change in the short term.

[Anonymous No.12282185]

>>12282176
How does 80% VTSAX and 20% VBTLX sound for long term holding?

[Anonymous No.12282192]

>>12281954
Not him but I have one friend who literally spends over $250/month on weed and shit for his Juul. He has a pretty high income too, it's fucking sad.

[Anonymous No.12282208]

>>12282168
sell consumer electronics devices? fix computers/phones/...? that's what I would do if I was in your position.

[Anonymous No.12282218]

I save more than 60% of my income (been poor for a long time, so I don't need a lot of money: rent is relatively cheap, I live a simple life and don't buy any luxuries), but I could be making a lot more money if I left my country (chile, south america) for, say, canada (I've been offered a job there) or the US, though I don't even have a degree, but I fear I'll be treated like shit there, won't get used to the climate and/or the people, and will probably get depressed and sad.

I also don't have any investments, other than a small % of that savings that I moved to buy btc, and then lost some 15% of that...
I want to help my family and myself by buying a house (would pay half, mom + subsidies would pay the rest), but they are so fucking stupid, I feel like I can't trust them with any money. plus houses are fucking expensive right now.

wtf should I do with my money? I'm dumb as rocks when it comes to investing, and I doubt I can trust anyone with the money. I have some ideas for a startup, but they are just that, ideas.

[Anonymous No.12282244]

>>12282028
I only have short and long term savings. 6 months in pure cash with 0% return and the rest is in stocks. I probably could squeeze a little more return from my cash savings but it is just such a small sum of money. My expenses are REALLY low which is why 6 months worth is almost nothing.

I don't have medium term savings because I am confident in my ability to get and hold a job (or create a business if need be), I can count on dividend income a little because my portfolio is not small anymore and I have close family I can count on in the case of apocalypse. My ability to adapt to any situation gives me confidence.

[Anonymous No.12282248]

>>12282218
How do you get job offers overseas?

[Anonymous No.12282263]

>>12282248
high demand field, got offers from people I met on IRC. I've been talking with them for years, so they know me, more or less.

[Anonymous No.12282269]

>>12282218
I have no idea how you could achieve this but you need to protect your long-term savings against inflation somehow. A house could do it.

The reason I am not sure what you should do is that I don't know how trustworthy the financial and legal systems are in south america. I hope you find a way.

[Anonymous No.12282270]

>>12282244
Ah I see. I don't have much of an emergency fund either because of the same reasons you list, only about 6 months. Because of my family I'll never be in a situation where I'm really screwed.

I more use my "medium term savings" as a place to park my funds that I will use to make a down payment on a condo in a couple years. I don't want that money in the market because of volatility and I don't want to be forced to sell/liquidate any shares and potentially making a dumb move. So I park that money in a savings account paying ~2% interest. I also use that money to churn bank account bonuses and whatnot too. Was just wondering if there was something better I could do with it in the meantime until I'm ready to buy.

[Anonymous No.12282287]

>>12282218
>I want to help my family and myself by buying a house
btw, if I do buy a house, I would have no savings left. from what I can see, an economic crisis is coming the next year or so, and I could take advantage of that. I feel like if I buy a house, I could miss a great opportunity to buy "the dip", i.e., cheap stuff (apartments, houses, stocks, ...)

[Anonymous No.12282296]

>>12282185
Sounds good. I would allocate some of the stock portion to international (outside-US) stocks. Diversification is the only free lunch in investing.

[gommie faggot !!ybZU7IbD8fv No.12282305]

>>12282218
>>12282269
If you want to protect your money against inflation you buy US treasury bonds, especially TIPS. I'd also recommend counter cyclical stocks like consumer staples and utilities.

[Anonymous No.12282323]

>>12282296
Hmm...don't most US companies operate globally?

[Anonymous No.12282351]

>>12282269
>>12282305
thanks m8s

btw, I'm thinking about buying AMD and holding for a few months. what do you think?

[Anonymous No.12282375]

>>12282323
Yes. One issue is with how the company stock are valued. Outside-US stocks are valued more cheaply at the moment. US stock valuations are expensive at the moment. Only time will tell if this matters. And even though US stocks operate globally they still have a big chunk of their business in the US.
A good place to check stock market valuations: https://www.starcapital.de/en/research/stock-market-valuation/
Maybe this wont matter, maybe it will. By diversifying you ensure a good outcome for yourself. By global diversification you ensure that you don't have all your money in a bubble. It protects you against worst case scenarios.

[gommie faggot !!ybZU7IbD8fv No.12282385]

>>12282351
AMD has gone up with speculation on tech stocks more generally since about 2016. It may be a bit overvalued as a result. If you disagree and think its value will increase as it snaps up marketshare next year just make sure it's just one small part of your larger portfolio, diversification is key to reducing those kind of risks.

[Anonymous No.12283074]

>>12282020
YOLO
Invested all my life savings in crypto since I was 18. Now went all-in on Chainlink. Diversification is the safer way but if you can emotionally handle the risk, going all-in on a project with high potential could be an option as well.
Over the course of three years crypto I have a ROI of about 35%/year. I'm happy with that. Don't stress about the huge volatility but think long-term.

[Anonymous No.12283106]

>>12283074
If you gamble long enough one day you will lose everything. Quit while you are ahead.

[Anonymous No.12283628]

>>12281954
That's because you arent a normie. Hence you browse this site. Normies will spend money on literally everything.

[Anonymous No.12283810]

>>12282296
>>12282323
Non us investments is a meme. Most have been flatline or gone negative. Vxus for instance hasn't really generated any value to holders. You are better off with total us, small us bonds, then qqq or spy.

Furthermore if usa crashes or goes bear the vast majority of outside us stock will too. Really no reason to hold them.

[Anonymous No.12283876]

>>12283810
Every stock market has had both good and bad decades. Just because one market has been outperforming others doesn't mean it continues, mean reversion is a real thing. Better to diversify and avoid investing 100% in a potential bubble.
Even though vxus hasn't grown in price it has still paid dividends. You have to consider total return.

Check out long term nikkei index returns. https://www.macrotrends.net/2593/nikkei-225-index-historical-chart-data
This could happen to the S&P500. Just because something has grown in price doesn't mean it will continue. Japanese equities were in a huge bubble in 1990 and it took 20 years for the bubble to pop.

Avoid valuation bubbles, diversify, survive. And collect comfy dividends all the way.

[Anonymous No.12283896]

>>12281162
I legitimately hope you get the super aids

[Anonymous No.12284192]

>>12282168
At <1% interest, it would be in your best interest (heh) to stall/extend that loan for as long as you can.

2 reasons:

1: Inflation is more than 1% per year, so even if you didn't invest (see reason 2), your principal would be worth "less" in 20 years than now.

2:
It's really fucking easy to get a return of at least 4-5% if you invest in something like SPYD or any other index ETF.

[Anonymous No.12284318]

>>12283876
Agreed about bubbles and stagnant markets. But there are tons of us companies and funds that pay dividends as well as appreciate in stock value much better than some international funds.

[Anonymous No.12284337]

>>12281560
I'm a 30 yo with a humanities degree still single, still renting and barely making ends meet.
It's ogre, let me poopost in peace.

[Anonymous No.12284360]

>>12283810
That's why it's a good idea to invest now instead of riding the bubble when everyone else is piling into EM. Lower prices now = higher expected returns in the future

[Anonymous No.12284392]

>>12281162
Wait...Your a financial advisor and you don't own anything yet?

[Anonymous No.12284396]

>>12284360
Valuation is the most important thing for future expected returns. I agree.

[Anonymous No.12284432]

Why are threads like this allowed? This is a CRYPTO BOARD but somehow we got boomers who come here and think it's actually a business board where they can discuss their boomer strategies and wagecuckery

[Anonymous No.12284474]

>>12284432
An outrage!

[Anonymous No.12284499]

>>12281947
Why is it so much better to own instead of rent? It is evident that by renting u throw out the money, but u also get chained to a very long loan.
I know it is better to own, but I want to hear why from someone understanding finance better.

[Anonymous No.12284567]

>>12282270
>>12284499
>>12281990
Anons? Please answer my question above.

[Anonymous No.12284577]

>>12284499
I have never owned real estate so take my opinion with a grain of salt.

It is all about how much money you have left after paying the maintenance cost of you living situation. If rent is higher than interest payments on mortgage + insurance + repairs that have to be made every decade (and other maintenance of the house) then it makes economical sense to buy the house.
If the costs of owning the house are higher than rent then you should rent. Many people forget that owning a house costs more than the interest on mortgage, houses have to be repaired periodically.
Owning a house has some risks. You lock yourself to a location so make sure you have a stable job there and don't have to move in the future. Interest rates also change over time which means your payments to the bank change. And this is why it is better to play safe when buying a house and not buy a too expensive one.

Hope this helps a little.

[Anonymous No.12284595]

>>12284577
Generally buying a house should be more economical. If your area is not in a housing bubble that is.
If you have to change locations after buying a house you can always rent out the house.

[Anonymous No.12284643]

>>12284567
Found this calculator while doing some googling: https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html?abt=0002&abg=1

[Anonymous No.12284839]

>>12284499
Owning is better so long as:
1) You buy something in a well-desired area. Just in case you need to move you'll always be able to sell it/rent it out because demand is high.
2) You buy something that isn't a piece of shit/falling apart. Maintenance costs are where you can possibly start throwing money into a black hole. I personally plan on starting small and buying a 2/3 bedroom condo (that's all I'll be able to afford anyway) and see how that goes for a few years before I even think about buying a real full-sized house

[Anonymous No.12284876]

>>12281162
Holy fuck. Look at that s_oy_boy in OP image. Absolutely disgusting. Where is the "Apple products 60%" section on that chart?

[Anonymous No.12284906]

>>12281906
>Discipline predicts success in life better than IQ. IQ cannot be changed much, but everyone can train their self-discipline.

Not to be "that guy" but I went to college for this precise manner of thing and that's bullshit, namely because low IQ people are less able to access the kinds of things that you would call discipline

Your advice only applies to people with an IQ of 100+, below that it really is fucking useless trying to teach them

[Anonymous No.12284917]

>>12281751
You're a daft idiot. I'm making $112k doing dev work and I live in a $400 comfy studio (midwest, where housing is actually affordable). I'm able to put almost 75% of yearly income post-taxes into investments. At current pace, I'll be able to soft retire at 33 with $1m saved and $50k/year interest to live off of.

[Anonymous No.12284923]

>>12284876
>thinking about sooi all the time

Angry 5oyboy detected.

[Anonymous No.12284949]

>>12281162
good goy, dont even think about escaping our system. keep diligently saving your cuckbucks goyy

[Anonymous No.12284975]

>>12284906
Interesting and sad at the same time.

[Anonymous No.12284979]

>>12281829
It works both ways.
If you are cucked by mortgage and lose mobility, they can abuse the fact you need to stay and cuck your salary.

[Anonymous No.12284982]

>>12281804
This. I respilled my wife on crypto, now she's as much into it as me and we are accumulating together. She now keeps up with it and we have turned into a pretty solid team when it comes to finding good possible investment opportunities. Comfy.

[Anonymous No.12285302]

>>12284982
>crypto

Yikes

[Anonymous No.12285731]

>>12285302
>crypto

>Yikes

No u, you’re on a crypto board and yikesing about it. Yikes

[Anonymous No.12285751]

What should i do anons? I own 350$, just started a minimum wage job. Really want to travel and see the world, 30yo boomer, been working whole my life. Also i have a house which is paid off. Can't rent out, because that would need about 25k investments.

[Anonymous No.12285859]

>>12285751
I'm no expert but it sounds like you should focus on making yourself worth more money
Rough math says renting the house would pay for itself relatively quick if you went for it

[Anonymous No.12285892]

>>12285859
yeah, doomed for wagecucking. Literally saved every penny over the last 12 years and crypto gains to pay of the mortgage. But it was literally every penny. Can't rent it out because it's unfinished, but i'll save up fast now, so wagecucking it is

[Anonymous No.12286229]

>>12282218
WENA CULIAO

[Anonymous No.12286234]

>>12281162
>Implying that debt is an compulsory or obvious always present outcome

This must have been done by an american

[Anonymous No.12286307]

>>12286229
WENA PO SAPO CTM

[Anonymous No.12286349]

>>12281162
Do I need to file taxes if I haven’t had a job in 3 years? What about with 50+ crypto transactions and 5k in losses?

[Anonymous No.12286509]

>>12286349
If all you’ve done is lost money over the past 3 years and haven’t earned any income, the IRS probably doesn’t care about you.

They only care about people who have income they can steal.

[Anonymous No.12286746]

>>12281162
>40% housing
holy fuck what kind of cuckoldry is this, I pay less than 10% living in the heart of a major city in the hipster part of town

[Anonymous No.12286824]

>>12286746
People like to make themselves richer by living in places they really shouldn't be living in. Which city?

[Anonymous No.12286839]

>>12285302
Fuck off boomer. Not everyone wants to invest in shiny rocks, the stock banker scam, or become a slumlord.

[Anonymous No.12286854]

How do I escape wagecucking and the rat race by 40? I'm 20 and working min wage at the supermarket. I've accepted I'll have to do my time but I don't want a life sentence.

I want to enjoy some of my life before I'm old and crippled.

[Anonymous No.12286862]

>>12281162
No sorry this board is reserved solely for gambling on internet meme money and losing. Carry on

[Anonymous No.12286893]

>>12281715
at what age should you consider sleeping with your mom? asking for a friend

[Anonymous No.12286931]

>>12286854
Get some form of formal education and get a better paying job. Doesn't have to be college. Learn or trade or something where people will actually value your skills.

Then from there live simply and frugally. Don't waste money on stupid shit and depreciating assets. Aim to save at least 60% of your income and invest at least 1/3 of your income in index funds

[Anonymous No.12286951]

I own a small business (Sole prop) that grossed over 250k this year. This is the most we have made so far but conversely the most taxes we have been obligated to pay so far.

Come tax season, should I hire a CPA or is HR block or TurboTax enough since I am not making huge amounts of money?

[Anonymous No.12286962]

>>12286824
midwest, not chicago. I can see 40% being necessary for bay area but nowhere else.

[Anonymous No.12286981]

>>12286962
Oh yeah midwest is dirt cheap. NYC too. It's just behind the bay area in terms of worst housing prices

[Anonymous No.12287020]

>>12283876
Brainlet here, does VTSAX give dividends?

[Anonymous No.12287057]

>>12287020
Yes, it has a dividend yield of about 1.9%

[Anonymous No.12287068]

Hey OP check this video out
https://youtu.be/FeNYjYA2lVg

[Anonymous No.12287089]

>>12281162
Just save money and live like a monk for 5 years

[Anonymous No.12287098]

>>12287089
>live like a monk
elaborate plz

[Anonymous No.12287106]

How come some banks high-yield savings rate is so much higher than others?

It seems sketchy to me, but both are FDIC-insured.

[Anonymous No.12287118]

>>12287098
Buy the necessities food,water don't go out keep TV time at minimum better sleep more you will be better than most during working hours if you can sustain that for 5 years and save part of your pay you should have a good amount of money for investments or a fail safe for the dark days

[Anonymous No.12287124]

>>12287106
Which banks?

[gommie faggot !!ybZU7IbD8fv No.12287130]

>>12287106
Some banks have higher costs than others, brick and mortar facilities can be pretty expensive, as can be credit card perks or engaging in certain kinds of lending that have higher regulatory costs (usually money laundering regulation).

[Anonymous No.12287131]

>>12287124
Ally high-yield savings account for example. Much higher than what my bank's savings account offers.

[Anonymous No.12287192]

>>12287131
Ally is legit. They are fully online and have minimal overhead costs, which partially what allows them to maintain the higher rates for their savings account.

[gommie faggot !!ybZU7IbD8fv No.12287260]

>>12287192
Pretty much this. Also why I intend to stick with Ally over Robinhood's false advertised money market fund.

[Anonymous No.12287401]

>>12287260
The Robinhood "savings account" was trash. Not FDIC insured and apparently the SIPC never even approved of it.

I'm currently churning some bank bonuses with my savings and then I plan to finally park them in Synchrony high yield savings. They're currently the highest legitimate/established APY option at 2.20%

[Anonymous No.12287420]

>>12281162

>40% on housing and utilities

this is the new normal

[Anonymous No.12287936]

>>12284577
>>12284839
Thank you frens!

[Anonymous No.12288310]

>>12281407
>>12281715
What do you anons think of interactive brokers? Trustworthy? My problem with them is u have to start with $10,000.

[Anonymous No.12288350]

>>12288310
Unecessary. Just set up an account with Vanguard or Fidelity and do your own thing.

Also I'm OP on another computer

[Anonymous No.12288360]

>>12285731
this is the business and finance board, the sticky says topics only include crypto
I assume the reason this thread was made was to keep crypto garbage out

[Anonymous No.12288415]

>>12288350
Thanks for ur time.
I live in Budapest, Hungary, so by interactive brookers I could have global access to money markets. I think local brokers charge hefty fees and have less widespread coverage.

[Anonymous No.12288444]

>>12288350
>>12288415
By the way, https://brokerchooser.com is a really great online platform where you can see what is best tailored for you in a given country.

[Anonymous No.12288445]

>>12288415
Ah okay, that changes things. I am uninformed about the best practices when it comes to investing in your country.

[Anonymous No.12288467]

Good ways to make money in spare time?

So far I've got
>Survey Junkie: Not really worth it but I do it while watching tv or whatever and maybe make $3.00
>Swagbucks: Made maybe $50 over the course of a year through random surveys, cashback, and using the search engine
>Studies/focus groups: I could use a bit more info on these, though I'm currently participating in a medical study for $500

I'm less than 5k away from paying off my student loans, so I'm racing to the finish line. After that, I was gonna get my own apartment, a car, and then invest $500 starter in stocks, just to see if I'm any good at it.

[. No.12288505]

>>12288415
Dutch guy posting from debrecen now: use "degiro" it has very low fees and is a quality dutch broker serving most of the EU

[Anonymous No.12288511]

>>12288467
I wouldn't bother with any of that survey nonsense. It's all chump change at best. Spending hours of time just to make an extra $100 per year. If you really want to make money from your computer I heard Amazon mturk is decent, and there's also Appen which I almost did (I got accepted but decided it wasn't worth my time).

I churn bank account and credit card bonuses for fun and it gives me an extra few hundred a year. I just treat it as extra spending cash on the side. However you need a decent amount of starting capital to do it (I'd say at least 15-25k) and there's a limit on how much you can do it, so it's not that great.

[Anonymous No.12288550]

>>12288511
I wanted to get my student loans paid off before I did anything else, so I only have 5k on hand at any time for emergencies. I'll be fully paid off in February, so for now I'm pretty much just doing whatever to speed things up.

The survey thing is complete chump change, and I don't imagine I'll do it after this unless I'm desperate or bored. Still, I'm $100 closer in the last month to being debt-free. It wasn't even close to worth the time, but it was just while I was watching tv or whatever.

[Anonymous No.12288629]

>>12288550
I would look into Amazon Mturk or Appen, something that will at least pay you $10/hour. Also look around in r/beermoney

If you don't mind being a little more active maybe look into driving for Uber or lyft or something?

[Anonymous No.12288652]

>>12288505
Cheers m8, was just eyeing up degiro precisely, seems pretty legit.
Up to how much euros is it insured? €20,000? In Hungary, you are insured upto €100,000.
Can you invest in some basic vanguard/fidelity index funds through that platform? What do you invest into?

[Anonymous No.12288655]

>>12288629
I don't know any of those, but I totally will. Thanks.

No car yet. I live in a major city and went complete poorfag to pay this off. After this I plan on moving to a smaller, cheaper city where I'll get a car and a dog and a squat rack and live my life in relative happiness.

I thought about dog walking, but you need a bit more of a schedule to do that.

[Anonymous No.12288664]

>>12288445
Thanks, another anon suggested Degiro, which is a European Robin Hood app, will try that most likely now.

[Anonymous No.12288718]

Alright fellas I'm 26 and my New Year's Resolution is to move out of my parents' house this year, not sure how feasible it is. Emergency fund is in place and no debt of any kind. In absolutely no circumstance will I live with roommates.

The problem is that after 401k, IRA, HSA, ESPP, FICA, State and Federal withholding, and insurance I will get about $1300 biweekly, and I'm afraid it's going to be really tight. I found an apartment for $900 per month and I think my monthly expenses added up should be something like this:
>Rent and mandatory internet/cable: $950
>Sewage, trash, water, etc.: $25
>Electricity: $75
>Cellphone: $8
>Car insurance and gasoline: $200
>Groceries, Eating out, Toiletries: $400

That leaves maybe $1000 a month breathing room for just the bare essentials. Here's the thing, the entire point of this exercise would be to IMPROVE my quality of life from what I have now. I'm tired of wearing my clothes from highschool and sleeping in my childhood twin bed. I want nice things in my kitchen even if I buy them used. I want cool pieces and quality furniture to fill all this new space I have up. That doesn't mean I'm going to walk into the most expensive shop and buy up all their new shit but it doesn't mean I'm going to live with cinderblocks and Ikea crap either. Without that why the fuck would I even bother moving out? I don't think this is remotely an unreasonable attitude.
So what do you think guys, is it doable? I don't really have experience bearing the full cost of everything on my own and am not sure if that's a decent margin, I only ever lived with roommates so all the costs were split.

>12284595
buying a house is more economical than renting the same house
renting a 1 bedroom apartment for yourself and investing the difference over the house PITI is likely cheaper than buying and entire house in perpetuity
the only exclusion to this is if you rent out the remaining rooms and spend your life as a live-in landlord

[Anonymous No.12288749]

>>12281963
open a vanguard or schwab broker account. I lean Vanguard and then invest in ETF mutual funds for growth and short term if you see something you believe in for investing. REIT funds are also good investments. Dividend growth can be found in INDEXes if you are wary of stock holding specifically you can hold an index of high earning stocks which are handled by others and see comfy dividends off that money. Check in with SMG or do research on investopedia to learn more.

One of the most demanding things to do in making it is salary slaving away and not treating yourself to some dumb expensive shit or chasing skirt. What you need to do is sock away as much as possible in not only a ROTH IRA but also your jobs 401K offered and a regular IRA. This is the true greenpill (green as in money I dont know what pills the zoomies talk about these days). If you aren't seeing growth at your job you should be using time to find a higher paying job in the same or similar field with the experience. You can often leverage higher pay with an offer at another job. Make sure the position is available so if they tell you to walk you absolutely can. Staying somewhere with a raise can be better than having to settle in a new position *sometimes*

[Anonymous No.12288752]

Ooh, maybe I can get some input on my plan here:

So I have roughly 50k invested in a bonds account that has shown below market average returns over the life that I've had it. I recently got hired in at a company with decent pay and great benefits and 8% match to my 401k. Playing with some numbers I can get 1.4 mil by 40 in it even on average market returns. Plus, as the 401k is brand new it doesn't have much momentum. What I was thinking was to max out my contribution on the 401k and take out chunks of that 50k in a seperate account to make up for the deficit so I can get the 401k snowball rolling. Any of that sound like a bad plan?

[Chocolad No.12288845]

>>12281993
Do you have a ROTH IRA? If not open one with Vangaurd and fill the annual 5K before new year and then max the 2019 5K and get some etfs.

You need to do a root analysis and find out what about your job is shitty exactly. It's one thing to have a legitimately shit job and another to have become bored with your job. If you can isolate what it is about your job that sucks you can work towards resolving it whether that means finding a new position, new career, working part time, working remotely etc. Not working is always a bad look as far as making it unless you are totally set for life.

[Chocolad No.12288933]

>>12282218
>but I fear I'll be treated like shit there, won't get used to the climate and/or the people, and will probably get depressed and sad.
these are the sacrifices required to make it. You should take the job in Canada and save up as much as you can you may be able to support your family back home by buying them property they can reside in.

Depending on how much you can make/save with a North American job you should then investigate and research your possible startup ideas. Examine similar products or services and find out how to expand upon their success or incorporate it into your startup idea. Startups are particularly pricey in that you will most likely be working at a financial loss for at least half a decade before the startup STARTS UP.

>take the job

[Chocolad No.12289024]

>>12283074
this is a bad look and a fools errand. Not to say it can't be profitable but the gamblers fallacy will dictate YOLOing enough times will JUST you faster than being found with illegal content on your computer.

>>12283896
>>12284432
Oh no a wojak/shitcoin thread died for this what a shame. KYS youre'rself you're self

>>12284499
It goes both ways anon by renting you aren't tied down to a specific location indefinitely. You can take short term leases and bounce between jobs for lateral raises and additional skills and positions. Some argue renting equates to throwing away money but it depends on what you are renting if you find a shit place far away that makes life and work a chore between commute and home life then yeah its a money pit if you find a luxury complex with an efficiency across the street from where you work then it may be money better spent than if you were in the shithole. It's a careful balance with renting, with owning you have different types of concerns if something breaks you need to fucking fix it or pay someone to fix it. If you rent *ring ring* hey wagie come fix my ice machine before I get home from across the street today.

[Anonymous No.12289092]

I haven't ever told anyone this, so I figured I'd post here just to kind of vent.

>Move in with parents for college
>they move to Japan, I no longer have any money and no job to stick around
>fuck off for a year, move back home to the states with 0$
>take a loan and a credit card for rent, used car and day to day living
>have 2 medical issues

my take home is 2200

my debt originally

8k
4k

and 16k in student loans. I think it's fucking huge, but I'm about to go hermit mode, finish school and get a better job, then just chunk at this shit. feels oppressive

[Chocolad No.12289139]

>>12284949
interesting FUD posting how can I own shares?

>>12286349
better now than for them to come sniffing for you in a decade when you have money. You will owe something either way so turbotax it yourself and you may get money for being unemployed.

>>12286893
when your friends mom is hot

>>12286951
Might want to get a CPA if you're gonna be making those amounts of money they are legal income ninjas who you pay to find you every fucking loophole available. You might even want to hire one to work full time and do payroll etc so you know you will be getting some good shit since their interests are your best interests.

>>12287098
Early to bed early to rise. Minimum spending maximum budgeting cut back on eating out drinking entertainment etc. Limit non REQUIRED spending to minimum of 100$ a month for all movies vidya going out etc. It's basically cocoon mode start working out or investing in yourself instead of spending on any fucking thing outside of investing and learning and earning more.

[Anonymous No.12289268]

>>12282000
>giving financial advice with a sub 1m port.
Let me stop you right there faggot

[Anonymous No.12289335]

>>12288718
I would consider my life pretty comfy if I could spend 1000 on luxuries after the bare essentials. It can be done. But the question is, do you want to retire comfy one day?

[Anonymous No.12289351]

>>12288718
>electricity: $75

Someone is mining shitcoins with your spare PC power unless you live in bumfuck, flyover

>cellphone: $8
This has to be a typo. if it is you're being trolled by your carrier

>Groceries, Eating out, Toiletries: $400
Bitches love home cooked meals. Not to sound like a zoomer but struggle meals has some pretty decent ideas for dishes. Learn to love cheap cuts of meat like pork shoulders or 73% ground beef. Farmers markets are your friends.

>nice stuff
Freecycle. Google it. Whatever you can't find there can be found on CL/letgo/offerup for cheap.

[gommie faggot !!ybZU7IbD8fv No.12289416]

>>12288718
$1000 a month is a great starting point anon.

For your apartment you might be surprised by the kind of things people will just give away. Tables, Pianos, Bookshelves. Look at Facebook marketplace and Criagslist. After that look at Ikea and then after that local furniture shops. Look through some antique stores and flea markets for artwork and decorative pieces. Or try to find local staving artists online.

Altogether I'm sure you can furnish your apartment for less than 1,500-2,000.

In terms of saving up for a house, maybe put some money in bond-heavy mutual funds, which should get you around a 4-5% return with very low volatility. In five years time with 500 dollars put towards this every month, you should be able to get 35,000 for a down payment.

Maybe use the other 500 for fun, or invest it in riskier assets to get closer to larger goals.

[gommie faggot !!ybZU7IbD8fv No.12289440]

>>12289092
Focus on saving as much money as possible, you need decent lump sums to be able to pay off your debt for cheap by renegotiating it or buying it off them.

If you're going back to school try to apply to every scholarship you can find, you want to take on as little debt in that process as possible. Find a degree program that takes as little time as possible.

[Anonymous No.12289488]

*own $1M home in california, full equity
*got about another $100K in stock
*renting it out for a good chunk, bought rv and traveling country
*getting low on savings and want to buy another house somewhere

how do?
i quit working, fuck that, wife makes $3K per month remotely

[Anonymous No.12289511]

>>12289488
take a loan against the house, buy property in a more profitable metro. structure the rental so rent covers mortgage + dep + management.

[Anonymous No.12289535]

>>12288752
you can’t do this because of the 401k contribution limit. 18.5k/yr.

if the bonds aren’t working just go back to a broad market etf.

[Anonymous No.12289585]

Stop being rent cucks. Get a cheap ass condo.

[Anonymous No.12289587]

>>12289535
this is with taking the contribution limit into consideration. the 50k is going to be used as financial security as I send a significant portion of my income into the 401k from my paycheck. Just to make sure I can keep a little bit in the bank for an emergency, about 10k taken out a year. It'll take more or less 5 years to deplete that account, by then I'll have either that or probably more in the 401k. Without using the 50k like this I do not believe I can afford to vest a 30% contribution

[Anonymous No.12289606]

>>12289511
*House in snobby area currently produces $3K per mo after insurance/tax/landscaping/prop management/repair
*New house will be primary residence (considering Washington / Illinois / Maryland)

1. How much $ would you spend on a house given this monthly production from the rental home?
2. What type of loan?
3. How much of a down payment would be needed?

[Anonymous No.12289609]

>>12289585
What choice do anons living in Cali have? Moving to another state is not an option atm.

[Anonymous No.12289652]

>>12289587
oh i misunderstood... thought you wanted to put 50k chunks in. that sounds fine? does your employer provide matching? would that matching apply to contributions outside your paycheck? i’d check those things

[Anonymous No.12289654]

>>12282000
>In a few years I plan on purchasing a 2-3 bedroom condo and renting out the other 1-2 rooms. Once my mortgage is paid off

No. Get a 1 bedroom or a studio and rent it out once you upgrade. You want lonely bachelors as your first tenants because all they do is work. You start a bro frat house and your unit is going to get all fucked up. Get a full size family dwelling as your second property.

[Anonymous No.12289666]

>>12289652
they match 8%, can't directly contribute outside of paycheck

[Anonymous No.12289672]

>>12289606
3k/mo is 3.6% ROI which is real low for a rental. you can make 3k/mo on a 700k property, from what i understand. start listening to bigger pockets and learn more about real estate.

the loan is a reverse mortgage i think? second mortgage (even though it’s first position?). talk to your bank, get some quotes on pulling equity out of your house

[Anonymous No.12289684]

>>12289335
well seeing as I max my IRA, HSA, and 401k each year and have spent the last four years piling the remainder into a taxable account I think I can make that happen
that's why my paycheck is only $1300

it just feels like any random thing can wipe that out and two things will end up resulting in a paycheck to paycheck cycle
need a new set of tires? $400-500
need a new set of contacts? $200
maybe a playstation or something? lots
some kind of hobby or fun thing? lots

>>12289351
>Someone is mining shitcoins with your spare PC power unless you live in bumfuck, flyover
$15 service charge plus ten cents per kWh, it's a conservative estimate that rounds easily with the rest of the utilities and fees

>This has to be a typo.
There are multiple a la carte services that charge around this much. Ting, US Mobile, Tello, etc.

>Bitches love home cooked meals. Not to sound like a zoomer but struggle meals has some pretty decent ideas for dishes. Learn to love cheap cuts of meat like pork shoulders or 73% ground beef. Farmers markets are your friends.
I intend to make most of my own food as a result of moving out. Currently doing so is very difficult and I end up spending $150 per month just eating out. Also I don't speak to women.

>Freecycle. Google it. Whatever you can't find there can be found on CL/letgo/offerup for cheap.
I have cash savings on hand to buy a lot of initial stuff.

[Anonymous No.12289688]

>>12289609
CONDO. Look with your eyes faggot

[Anonymous No.12289709]

>>12289666
yeah, max out the matching. anything after that you could contribute directly.

>>12289609
condo. in most places the mortgage on a condo will be about the same (or cheaper!) than rent. and a portion of that monthly payment comes back to you in equity. it's a good idea.

[Anonymous No.12289711]

>>12289688
condos in cali are not too far off from homes in terms of price sometimes even more

[Anonymous No.12289720]

>>12289585
yeah sure let me just pay this $200-$600 in ridiculous condo fees for facilities I don't use or give a shit about

>>12289416
I'm not interested in buying a house. Houses are to shelter your wife and children, and I'm not interested in those either.

[gommie faggot !!ybZU7IbD8fv No.12289732]

>>12289720
well as you already said, it's more economical to have the house. But whatever you prefer.

[Anonymous No.12289759]

>>12289732
I said buying a house is more economical than renting the exact same house

it's not more economical than renting much less square footage and avoiding decades of maintenance, property tax, and interest on the mortgage

[Anonymous No.12290595]

Do you guys have any advice on how to stop being so fixated on instant gratification? I love the idea of learning about finance/investing and building a portfolio, but I always spend all my money on going out, clothes, electronics etc. I'm only 18 so I suppose this is relatively normal behavior, but I just have trouble getting motivated to do anything if I don't see an instantaneous reward for it. Like I know it would be smart to start investing now for the long-term, but I have a sort of mental block preventing me from getting sufficiently motivated to invest in anything because I know it won't see the same level of "get-rich-quick" ROI that Bitcoin saw last year.

[Anonymous No.12290696]

>>12290595
Most of the decisions we make are actually habits and not real thought-out decisions. Basically you need to build new habits and replace old-ones with them. Avoiding temptation is also a good thing to do. I avoid visiting the store as much as I can to avoid temptation of shit and expensive food. Willpower stores are full in the morning, so do the hard choices then. Read "the power of habit" book for more about this subject. Audiobooks are great too.
One critical habit that got me started when I was young was the "pay yourself first" -rule. When you get a paycheck, you immediately transfer a portion of it to a savings or investing account and don't touch it ever. Separate your spending and investing/savings accounts mentally from each other.

The thought of early retirement and increasing my economic status in this world were the things that first got me motivated. Passive income too.

At 18 your brain is not fully matured yet, so delaying gratification is harder. It will get easier with time and practice.
You have a huge advantage over others by thinking about these things so young. I wish I started as early as you. You will make it. Good luck!

[Anonymous No.12291245]

>>12290696
I actually ironically picked up a copy of The Power of Habit a little while back but haven't gotten around to reading it yet. Gonna start that soon. Have another book recommendations along those same lines?

[Anonymous No.12291329]

>>12291245
Thinking, Fast and Slow
I am currently listening to this. It is about how the mind works and how the mind often is not rational/logical. If you want to be a good thinker you need to know how to avoid the common and natural mistakes in thinking.
Influence: The Psychology of Persuasion
This one is also about how people make stupid decisions naturally.

Not sure if you were looking for these kinds of books, but there you go.

[Anonymous No.12291832]

>>12288845
Really bad advice, it's $5500 and does not need to be contributed until April 15th of the following year.

[. No.12292349]

>>12288505
Yup dutch deposit warranty is also >100.000 euro. In any case that does not matter because you buy stocks, you own the stocks not the broker.

Im buying Vanguard VWRL as my bread and butter ETF. By the way, "degiro" has a "coreselection" of ETFs that have almost 0% fee, the vanguard one is included.

[Anonymous No.12292556]

>>12283106
>>12289024
You guys have a point, I was dancing with the devil. I went all-in on Vechain too. In the phase before it became clear they are a scam (whitepaper, etc.). That could have been my JUSTification. But, I got lucky and now I just need to wait for Chainlink mainnet. Then I'm going to stake and reinvest what staking gives me into safe assets like btc, eth, mkr, dai.
If the crypto story wouldn't play out I would be safer with my life investments too and put some safely away in safe stock market assets. But, you know, I was 18 and though about getting rich quick. Had some luck on the way.
Also had some bad luck when I was <<being a trader>>, turns out that is truly the gamble and I lost about 4k then.

[Anonymous No.12292608]

A friend of mine earns 5k in month, but spends every month 2,3k in his car - that‘s stupid, right?

[. No.12292639]

>>12288652
See this
>>12292349

[Anonymous No.12292945]

>>12292608
I would rather shoot myself in the foot than do what your friend is doing. Maybe its just a phase, kek. Still, he earns more than me so good job on that.

>>12292556
>But, you know, I was 18 and though about getting rich quick
In their hearts everyone wants to get rich quick. But as people get older they learn that if something sounds like "too good to be true", it probably is too good to be true. Sometimes it works out, often not.

[Anonymous No.12292955]

>>12292945
I look at myself and I see a boring 26 yo boomer. Top kek.

[Anonymous No.12293424]

>>12292945
People should worry more about getting rich instead of getting rich *quick*

[Anonymous No.12293436]

Hello frens. Anyone here keep a written or digital record of all transactions they make?
>$80 savings p/w
>$80 p/w budget for regular expenses: food, transport, etc.
>Always ask for a receipt
>Write in all regular expenses for the week. Each week gets its own page
>If it goes above $80, like say, $85, then my running total goes up $5 and I'll have to make up for it by spending less next week or the week after or something
>Irregular purchases like clothes, gifts, etc. come out of the "savings" money (have a savings account so funds are separate)
>Write in all things bought from savings into expenses book in a section at the back
>Debts and credits section in expenses book too
>Make note of whenever someone owes me money, the date, reason and how much. Vice versa if I owe someone else money (rare, I hate debt and so should you)
>Section for bills as well. Pretty regular

Lads, get on board with this autism. You don't know how efficient you can be financially until you write things down. You feel like a worthless piece of shit if you have to keep writing down "$10 McDonald's" entries into your weekly expenses. You'll know where your money is going and you can address anything that you really should have already addressed.

Been doing this for 3 years now. Since it's January 1st tomorrow I'd say you should give it a try

[Anonymous No.12293520]

Ok but $10 at mcd's is too much anyway

a mcgangbang is $3

[Anonymous No.12293541]

>>12281162
32
Household income : $150K
Debt - $50K mortgage (old, paid for cars)
$50K in a 401. Was contributing 30% last year - wondering whether to continuing the trend or to stop and invest in silver/gold or cash.

[Chocolad No.12293600]

>>12291832
in what way is it bad advice to open a ROTH IRA besides the inaccuracy of the amount? those are already taxed dollars that when withdrawn will not be taxed. are you a /biz/let or just never gonna make it? if you have rational input I'm genuinely curious why you think a ROTH in addition to a regular IRA or 401K is a bad idea.

>>12288752
That's a good match I would consider contributing up to 10% of my check if I had it available. Absolutely start divvying up that bond into the 401K plan depending on the broker. Good shit m8 im hella jelly about that match rate.

>>12289092
Shit happens bruh you need to perform risk analysis on any major expenditures until you're in a good place. Going full cocoon/monk mode would suit you well. Once the debt is paid you will find yourself with a bunch of resources to live with but if you are diligent by then you wont even want to do normie shit like going out and drinking. You might just make it.

>>12289684
>I end up spending $150 per month just eating out
Bro I~ listen start buying groceries and youtube cooking just search "how to cook (food you want to eat)" on youtube you could reduce your monthly food bill by half ezpz and learn a skill.

>>12290595
Wew lad its called determination, discipline, and persistence start saving up little by little the more you do it the easier it gets. Stop spending on dumb shit or at the very least budget it to a sustainable amount limit yourself to sub 100$ monthly going out budget. Open an investment account where you can't just remove the money like a one year cash bond or IRA account. The rest can be put into a high earning savings account if you can find one near you.

[Anonymous No.12293646]

>>12293436
You mean a checkbook?
Yeah. I'm waiting when PSD2 gets implemented at my bank so that I can automate this processes and send myself weekly reports.

I know solutions for this already exist, but their labeling somehow isn't as good as I think I can make it.

[Anonymous No.12293647]

>>12283810
>Non us investments is a meme.
Speak for yourself fag, Australia has some of the best stocks in the world.
>Stupid high dividends
>30% franking credits

[Anonymous No.12293658]

>>12288752
Congrats.
Something to think about - my wife works with a lot of execs who make stupid money. Their first few paychecks of the year, they tweak the contributions to 100% and max out their retirement accounts for the maximum gainz.
You could do the same and live off the bond account .... unless you think the markets are still on a downward trend (hence my post about asking about maxing out in 2019 or going into cash/precious metals). $19K in a 401 Roth plus $5K in a Roth IRA would cut your bond portfolio in half. You can do catch-up on the IRA until April, can't speak towards the 401. Then there are differences based on age ... it's all confusing and seems like a big rigged casino and we aren't gonna win sometimes.

[Anonymous No.12293759]

Anyone have any experience with "passive app stacking?"

That is, having multiple savings apps (apps linked to phone/credit card account that give you cash back, automatically find you better deals, negotiate down bills for you automatically, etc. etc.) which then act to save you a little money individually?

>I've been considering doing it ala https://www.reddit.com/r/beermoney/comments/a5wwhu/part_2_17_apps_that_will_save_you_money_passively/
>My only worry is having my account linked to so many goddamn places, though I suppose I could maybe separate my credit card and bank account to protect this, or move 90% of my earnings to a savings account.
>On a side note, anyone else have any cheapfag savings tips you wanna add?

[Chocolad No.12294301]

>>12292556
Don't bother with trading. Day trading is more trouble than it's worth unless you're already rich. The idea is to put your money somewhere and let it accrue interest over a long period of time. I'm glad to hear your coming down from the high of YOLO though good shit.

>>12292608
Typical normie hobby dumping a large amount of money into something with depreciating value. Not to say buying vidya shit isn't as bad but you can get everything for dirt prices in vidya if you wait long enough or never pay and still enjoy it.

>>12292955
Bro nothin wrong with that keep fighting the good fight one day we're all gonna make it. We can toast each other on the board here with a nice sip over some wonderful financial security.

>>12293436
Yes absolutely yes. Fuck yeah budgeting. You should budget and rebalance anytime there is a significant change in your finances: change in pricing for regular expenses, unforeseen event occurring, celebrating special occasions, raise or windfall income. I usually keep a post it note with short hand and little drawings to visualize it. In the past I used YNAB you need a budget on PC and mobile to keep track of expenditure and income while contributing to accounts and savings. Try to avoid lending money whenever possible as well as dipping into your savings your robbing yourself of the interest set another rainy day counting to cover those irregulars my dude. I used to do the same until it became second nature which is why I just have the little sticky note which looks like some weird code. It's also good to examine where you can shave expenses think of it like min maxing worked for me. If you aren't building credit get a discover card to do so their phone app and website itemizes all your purchases and nothing gets you like seeing some dumb purchase like 24.99 at a movie theater. Motivates me to wait and see that shit for free at a later date.

[Anonymous No.12294358]

>>12281162

suppose for a thread like this you'll need at least a little bit of background as to my ingoings, outgoings and debts, so:

>income : roughly £16400 per year before tax, NI and workplace pension contributions from my wagecuck job
>however also get overtime at triple time on sundays during peak hours, so will be higher depending on how much time I can commit to doing OT and availability

>roughly £14400 net wage minimum assuming no OT

>expenditure : £0 on rent, live with my girlfriend who inherited her home
>I'd guess £1500 a year in total for all my car expenses (petrol, yearly MOT and service, a full valet every 6 months or so, insurance)
>£2640 a year for my half of household utilities (home insurance, council tax, gas and electricity)

so effectively I've £10,260 to play with after taking care of all the essentials. or £855 a month. pretty low cost of living here but assuming a £20 per day budget for food, entertainment etc. on average I can save at least £200 a month. Varies a bit if there's someones birthday, Christmas presents or one-off costs like getting the car serviced but I can live lean when I need to.

SO - I generally just stick to stuff like NS&I guaranteed income bonds and relatively safe stuff since I've not got much room for risk.
Overtime pretty much covers a weeks holiday abroad every year which I'm happy enough with.

Riskiest investment I'd say I have is with peer2peer lending, in particular lending works- good idea or bad? Haven't had any issues with them so far but the thought of platform failure nags at me a bit.

Are there any other good savings/investment products out there that are nice and (relatively) safe besides NS&I? Get pretty poor interest rates on them but like I say, I don't have much to risk.

[Anonymous No.12295137]

>>12287936
It's also worth noting for rent vs own, the money you pay to property tax ideally comes back to you when you sell where as rent there is no selling so the cost of rent is gone forever.

[Anonymous No.12295171]

>>12284337

Drive to North Dakota or Texas and work in the oilfields, six figure job guaranteed.

I just fixed your life, you're welcome.

[Anonymous No.12295191]

>>12282028
Online savings accounts are paying 2% now. Park any cash you have in there for now while you decide what to invest it in.

[Anonymous No.12295234]

>>12295191
>virtually all financial companies offering 4-6% at bargain bin prices with the guarantee to climb back in the next cycle (igm, cix)
>multiple close ended funds offering 10%, some even in monthly dividends so you can pull out whenever (skg.un)

But yeah I'm gonna dump my wagie pittance on a 2% yield, kek.

[Anonymous No.12295265]

>>12284949
Yeah, cos people going out and spending and living in debt is something all Jews fear.

[Anonymous No.12295277]

>>12293436
You can use Dave ramsey's every dollar app. Easy way to track all that.

[gommie faggot !!ybZU7IbD8fv No.12295857]

>>12293541
I think some silver/gold and cash would be a good addition, but you should also include some fixed income assets if you're moving away from stocks. 2 year T-Bonds and TIPS are good investments to retain value until the markets bottom out.

[Anonymous No.12295918]

Should I break up with my 3yr gf and live a life of frugality alone? I want to make more money and fix my life/loans/bills and shit without her getting in the way with materialism and going on vacations and shit. Problem is she is also a source of income.

[gommie faggot !!ybZU7IbD8fv No.12295959]

>>12295918
How do you think you'll manage living alone anon? Are you the kind of person who really feels the hurt of loneliness? That's just one consideration you should keep in mind. Of course you should put yourself first and make sure you've got things under control, but it's also important to maintain friendships.