[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 222 KB, 600x628, 363.png [View same] [iqdb] [saucenao] [google]
24095377 No.24095377 [Reply] [Original]

Hey /biz/ Idk if this is the place to go for this type of post, and if its not pls dont ban, but I would like advice from people more knowledgable than I am on finances.

First, you should probably know my general situation. So, I am a 19 year old poorfag who lives off of a disability check every month of $783. My rent, food, and other expenses are typically around $460 a month. That leaves me with $323 usually. Ive been the person recieving my check since my 18th in July of last year, and up until now I pay my bills, buy groceries, and blow the rest on shit I dont really need, and when I dont spend it, it sits in a checking account collecting no interest or anything.

My point is, I want to invest some of this extra spending money each month into something that will make money in the future with preferably little risk. What would /biz/ recommend I do to ensure I have a future and live comfortably? I

Tl;dr: 19 year old who only has about $300 to blow each month wants to turn that into something worthwhile and safe. Wat do?

>> No.24095395

>>24095377
How'd you get a disability check? I need one bad I don't want to work

>> No.24095404

>>24095395
Being legally blind helps.

>> No.24095470

>>24095404
Are you blind?
Real question

>> No.24095507

>>24095377
buy kneepads

>> No.24095523

>>24095470
Too blind to drive safely legally, even with my glasses on, but I can see well enough to pretty much get through day to day life, if that answers your question.

>> No.24095595

>>24095523
Post a picture of your hand with a timestamp

>> No.24095749

>>24095377
>1 save up 5-10k in cash, this is your absolute emergency fund that should help you not to be forced to take debts (avoid debt at any costs)
>if 1. is completed: Put 80% of your monthly savings rate in a broad low cost etf for the long term, no trading around, plain boring and simple
>the rest of 20% can be used for more speculative bets, cryptos or single stocks. I recommend BABA and RTX atm, this is up to you, but avoid the meme stocks

>> No.24095843

>>24095595
Why would you need that?
>>24095749
Thanks for the advice

>> No.24095936

>>24095749
This is solid advice.

>> No.24095982
File: 2.68 MB, 3264x2448, 20201120_172423.jpg [View same] [iqdb] [saucenao] [google]
24095982

>>24095595
>>24095843
Fine, I'll bite.

>> No.24096041

>>24095982
You have a fat retard arm
I suggest you learn to eat less to save more
fatty mc fat fuck

>> No.24096067

>>24095749
This is good advice, but rn, >>24095982
you have limited time. Buy as much LINK as you can. Try and get to 100 before you do what that other anon said.

>> No.24096078

>>24096041
Im 5'11 and weigh 160 lol. Im not that big. And I only spend like $160 on food a month.

>> No.24096129

>>24096078
>LINK
What is that?

>> No.24096137

>>24095749
Listen to this guy, OP. Contrary to the LARPing that goes on around here, don't invest a single dime that you couldn't afford to lose completely in a crash.
To be honest, if I were you, I'd walk away from this board completely, since it'll probably be too tempting to invest when you see people LARPing about being millionaires. Go to r/personalfinance (yes, Reddit, you faggots all go there too) and follow their advice. It's good for the basic normie advice.
Once you have enough saved up, then start putting money in ETFs like this anon says, and come back here for the speculative bets, because basic normies are even worse at investing than we are.

>> No.24096207

>>24096137
Thanks, I appriciate the honesty