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/biz/ - Business & Finance

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13140200 No.13140200 [Reply] [Original]

if you were 21 and had minor debt (~2k usd in student loans) bad credit like 550 TU and 450 Equifax, no savings, making $10 a hr, no degree, where would you start? whats your plan for the next few years?


>inb4 when i was 21 I was successful / graduating college
good for you I wish I was more responsible from 18-21 and had better adults in my life. But this thread is meant to be a sort of game for you and advice for myself. I had a very shitty upbringing but im not going to let it define me. I just want to be headed in the right direction.
>inb4 this thread isn't your personal life coach
no its not and if it was i would be the human embodiment of pepe but it does have some successful people and some of which might even be able to relate to my brief story, as well as people who will think of what Ive asked as a sort of discussion exercise.

Not looking for someone to decide my career for me, just sort of a general blue print that you personally would follow in my scenario based on your own opinions and experiences.

>> No.13140227

>>13140200
also for reference 10$ an hr is ~10-15% above expenses where/how I live.

>> No.13140238

>>13140200
also edit I meant >inb4 this BOARD isn't your personal life coach
told you I was a retard

>> No.13140265

Just do your best to pay off the debt and don't be late with payments

>> No.13140270

Pay off what debt you have, join the military

>> No.13140283

>>13140200
If you aren't a low iq ape learn to code. It is essentially a higher iq trade. Either that or go into a lower iq trade or the military as a last resort.

>> No.13140315

>>13140200

based african pants wearer

>> No.13140330

>>13140283
I have been thinking greatly about learning a language lately. Would have done the military if love didnt cuck that opportunity. I am a retard but I spent many years infront of computers and enjoy problem solving so I think it would be a suitable career.

>>13140265
>>13140270
ill start paying it off. its in default so I will have to figure out who and how to pay it but you have my word I will. I want to be financially responsible and have the good credit and favor of the banks that would be happy to lend to me to show for it.

>> No.13140337

>>13140200
I would do what >>13140283 suggested and start learning a trade. Also try to add as many income streams as you can or start a side hustle so you'll still have money coming in that you can fall back on if you lose your shitty wagecuck job.

>> No.13140338

>>13140315
you tellin me this shit aint shooped?

>> No.13140356

>>13140337
Shitty thing is I spent 3 years in construction where I thought I was learning a trade but after about 5 real fuckin' near death experiences I realized that shit wasn't for me. Im talking miracle chances of being alive type shit multiple times. Was making bank during that time (for my age) wish I wasn't such a stupid piece of shit and used that money wisely.

>> No.13141276

>>13140200
go get a better paying job. warehouse job, loading dock.... something with long hours and better pay than fucking 10 an hour.

make minimum payments on student loans.

eventually take out secured credit card, build credit, get a real credit card, use and pay off every month. once you get the secured credit card, and you're on the right track, your score will increase quickly.

>> No.13141329

>>13141276
a warehouse job would be a fuckin perfect short term goal for me im built like a brick shit house and putting headphones in and doin my daily routine sounds like nirvana as far as a job goes for me. especially if I could get overtime.

what should I look into after getting a better job and fixing my credit? I have several business ideas with websites i built for them, should i jump into getting a loan for capital while still working ~$15/hr job or focus on picking up a trade as other anons suggested so I can turn it into a career and then pursue entrepreneurship once I have a stable career and actually transferable skills to fall back on?

>> No.13141445

>>13140338
https://www.youtube.com/watch?v=O1DOcYL3rvY

>> No.13141475

>>13141329
sounds like you know what to do, you just have no motivation. >>13140238 are you a retard or just wanna talk to your /biz/ bros?

>> No.13141483

>>13141329

why do you want a higher credit score? so you can borrow more money? so you can get into more debt?

you should be focusing on getting out of debt and staying out of debt. you're setting yourself up to be poor the rest of your life if you worship at the alter of the great FICO.

>> No.13141499

>>13141483
no that is not necessarily my goal. But when it comes time for a house its inevitable that I will need to borrow also im pretty sure some interest rates and down payments coincide with credit score.

>> No.13141503

>>13141329
>>13141475
...... when i was 21 i was in debt, shit job, shit pay, slipping into drug addiction. i said FUCK THIS NO MORE and i defaulted on all my debt (mostly medical), wiped credit report clean after 7 years, got secured credit card, real credit card, better paying job, developed skills and picked up side hustles (ethical and non ethical), and i just invested every dime i could. i didn't go to college, didn't go to trade school.... i picked a niche job that had a small but lucrative market, became good at it, and i hope to retire when im in my 40's living off dividends from my investments i've made over the years.

>> No.13141646

>>13141503
good job anon I admire your willpower. Thanks for sharing your story, I too am now re-involved in a non ethical side hustle and I think between that and getting a better paying job asap Ill be able to kick this debt and start saving some money and putting it to work.

>> No.13141647

I'm 29 and will only have a shitty Arts bachelor next month, you're in a better position than me (ceteris paribus). Get a good degree (same thing I have to do next)

>> No.13141665

>>13141647
damn son gotta admit id still choose going face first into xanax and flunking out of college like I did over actually finishing an arts degree lol. no way am I going back to college right now though. Im not cut out for risking tons of debt and being poor as fuck basically surviving on my grades, i did NOT do well in highschool. I was a fuck up to the max up until the last two or three years.

>> No.13141704

>>13141499

as with most you've been sold the lie that you need a high credit score to get a house.

you don't.

>> No.13141761

>>13141704
what is the catch? Have more for a down payment? or does it just straight up not go hand in hand at all?

>> No.13141772

>>13140200
jesus christ imagine being born in africa.

>> No.13141804

>>13141772
shit any 3rd world country. we definitely take that shit for granted thats just a cosmic roll of the dice right there. but I like to think this fellas got a plan and knows where he's goin'. Maybe his cousin Abimbola shilled the next 100x meme coin to his village

>> No.13141820

>>13141761

eventually after not having any open credit accounts your score becomes zero and a non-retarded mortgage company can underwrite you if you have a decent sized down payment and good history of generally handling your money well.

>> No.13142084

>>13141665
oh ok. I'm in Australia though we have no debt/loans per se until we work it off and it gets taken out of our pay...

>> No.13142141

>>13140338
dunno, it comes up when you google images for "american scientist"

>> No.13142159

>>13140200
Why is he so based?

>> No.13142218

>>13141772
Imagine being born among nogs with a non-nog brain. You could shill yourself rich and live like a king in a country with no laws.

>> No.13142221

>>13142218
They would just kill you and steal all your shit.

>> No.13142250

>>13142221
maybe but look at all the warlords and megachurch preacher millionaires etc. Theyre all retards but theyre just that tiny bit smarter they know how to round up all the literal monkeys and have them do their bidding.

>> No.13142971

>>13140283
what language?

>> No.13143030

>>13142250
This is the case for every human society that has ever existed

>> No.13143117
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13143117

>>13140200
Who do you live with? If you're poor like me and have a family that is also poor, you can get $6000/yr through FAFSA. I also get an extra $2k for maintaining a GPA above 2.5, so make that $8k/yr even though my tuition only comes out to $3k.
I get $5000 every year merely for attending school, which is laughably easy because it's a community college in Florida. I'm also eligible for $2000 of subsidized student loans each year, so I can take those if I want to have extra money throughout my undergraduate studies--there is hardly a downside because the government shoulders the interest for me.
So...this could be you, if you are poor and live with your parents. I love my lifestyle because it gives me so much time to repair myself after the utter catastrophe that was my teenage years. I've begun reading again, learning Russian and experimenting with nootropics to stave off the soul-devouring depression. I could wageslave instead and make more money, sure, but that provides no room for upward growth. I'd be doomed to a serf's life almost purely due to depression and a shitty family... no thank you.

Anyway, that's obviously all anecdotal and it's very conceivable that you wouldn't have a path to a similar situation. In that case... if you're not retarded, you could get a TEFL (Teaching English to Foreign Learners) cert, save up a few thousand dollars and move to Malaysia, Korea, Thailand or the Philippines. Easy job with a living wage, plus the benefit of having the locals worship you if you're white, since white privilege genuinely exists in Asia.

People like to insist otherwise, but even in 2019 there are an imperial fuck ton of options in the land of freedom, anon. You have a ton of free resources, an imperfect but un-oppressive government and the most important currency in the world at your fingertips. Don't squander it.

>> No.13143119

>>13142971
the one you see the most in job listings in your area

>> No.13143148

>>13143117
I dont even speak to my parents anymore. I live with my girlfriend. Dropped out of community college and have outstanding student loans and no desire to go back. sounds like you are workin the system in your favor though!

>> No.13143281

>>13140200
I would look at associates degrees in trendy fields offered by my local community college. I would also taper back on spending with my credit card. I would use my credit card on very small purchases and pay it all off each month

>> No.13143571

>>13141646
Can you talk about the side hustle at all? I need some tips because I have about 4k in VERY bad loans that I need to pay off ASAP

>> No.13143628

Anon you young , dumb, strong, and willing to work. This is perfect for the oil fields many hours and you can get over 100k with all the hours they give you. Just don't be a dumb fuck buying a new truck and shit like that first things first buy a Boomer box ( a house) and keep on saving