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/diy/ - Do It Yourself


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2624016 No.2624016 [Reply] [Original]

This thread is about stories you have when you made some big bad financial mistakes, like gambling your life savings on stocks or buying expensive luxury items. Tell us how much you lost and what way you recovered. I think it's for to learn if anons ever worked 2 or 3 jobs and what they learned from the experience. I am currently in an tough spot. After working for 6 months earning 1800 a month and saving away 1600 and then switching jobs and earning 2140 for 3 months i blew away my money. After this experience 1k is all that remained of my balance and if i lost my job that was it . Luckily I have fought hard and although my intitial reaction was fear and heavy anxiety, it planted the seed to want to work more and harder and really love grinding. That's why i am starting my second job this saturday to increase my monthly salary by 19 percent. I know have 2,9k in my bank account and this taught me to be humble, build an emergency fund, learn that i can fuck myself over worse than inflation or goverment and that I should spend money by investing in myself when I got the chance. This thread isn't about me, but after making many threads, I really haven't heard anything from 4chan that spoke to my predicament or inspired me to hustle and work more/hader. Let's go!

So why did I post this on /diy/? It's because you guys know money is time and you're livingin reality about the fact that you have to exchange your time for money, so yeah.

>> No.2624118

>>2624016
>So why did I post this on /diy/?
I'd say its more of a /biz/ thing. I wasted money on a used car once I guess.

>> No.2624125

>>2624016
>So why did I post this on /diy/?
Probably because you're an insufferable cunt. Fuck off.

>> No.2624130

>>2624016
I'm a degenerate gambler who's about to file for his second bankruptcy. I don't think you want my advice on financial issues .

>> No.2624138

I was doing pretty good for myself
Bought my dream house
Making good money
This year i crash my car drunk and its put a real damper on my good streak
No job, no car, thousands.. potentially tens of thousands in legal bills, possible criminal record...
Oh well ill probably be glad it happened in a few years when i back on my feet + sober

>> No.2624139

>>2624118
hey hey take it to /o/ asshole

>> No.2624205

>>2624139
take this shit to /lgbt/ you fucking faggot

>> No.2624239

>>2624205
Take this to /r9k/ you pink assholed breedable fuck muffin

>> No.2624259

>>2624016
How about getting 1 decent job instead of working 2 mediocre jobs you dingbat
Spend your time and money making yourself worth more, then find an avenue to make said money.

>> No.2624268

>>2624016
wrong board idiot
>>>/biz/catalog

>> No.2624511

Lost 10k in stocks.
2.5k in crypto scams.
Another 10k total on shitty used cars and their insurance and running costs over the last 5 years.
3k on tradie certificates, fucking useless waste they were.
Thousands on leaving my country before getting a shitty job that did not pay enough to survive without dipping into savings, then having to move back again and start from zero

>> No.2624645
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2624645

>>2624511
buy high, sell low

>> No.2624659

no major financial mistakes besides a couple small scale business ventures/tool purchases. Out a few thousand overall over the course of 10yrs, not a huge deal. Landed a stable real person job ~6yrs ago with consistent raises, now my childhood obsession with strategy games is paying off. I view long term cost saving upgrades as a sort of tech-tree, like switching from oil heat to a heat pump puts me on track for $500 saved per year. Trying to set myself up for a low cost of living life to allow for early retirement and the potential to work for myself with less stress. Currently contributing enough for the company match to my 401k with another $300 weekly to an independent retirement account.

Had to listen to my sister this weekend complain how shes never going to pay off her student loans and shes not even gonna try. Has to make over 100k/yr, goes on vacation multiple times per year, knows every restaurant and bar in their high cost of living area. In 7 or 8 years starting from 32k to just now cracking 80k, I already have nearly her entire loan amount saved without any major sacrifice. And I was the 'dumb' one for not doing well in school.

>> No.2624696

Fucked around in uni way too long and got way too high student loans because i didn't start to pay them back as early as planned. Had to borrow even more from familiy to finish my degree. Now for some random reason i actually got an adult job which pays way above average and it allows me to save more than most people here even make in a month. If i live on a tight budget i'm debt free in 1.5 years or 2-3 years on a comfortable budget. Though the interest rate tripled the last 6 months so that might change.

After becoming debt free there's kind of a black hole though. All my life i had this plan of living frugally until i can buy a house and just cut society out of my life but right now that is completely unreachable. So maybe i have to throw away the idea of a frugal life (if i'm even able to) and just be content with renting and enjoy wasting my high income. Or save a bit and just travel the world as a hobo after a few years. Maybe when all the boomers die i can at least buy a house for less than triple my rent right now.

>> No.2625407

I live in Argentina and I've lost all my life savings to inflation.
My greatest financial mistake was to born in such shithole of a country.

>> No.2625579

>>2624016
I had a business partner who was embezelling money. Short story is he his half and had to pay back the money. Helps to hire a good lawyer and lay out how illegal hiding collected taxes is from the IRS.

>> No.2627269

>>2624138
At least you've got a good understanding of how character works and why God allows suffering like this. Best of luck

>> No.2627327
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2627327

>>2625407
keep struggling, struggler.

>> No.2627355

i worked at dominoes and sushi place washing dieshes after high school till around 24,
had another boss change and job went to shit
so quit
dog died
6k i saved lost in abougth 4 months
3k on weed smoking daily at home from depression
3k on a therapist , who actually made me realize that only i can get my shit together because fuck this therapist bitch,
some people are scum

made me realize im a fucking amazing work ethic and i can be richer than some dumb rich therapist

have a plan
finance car with mother help
get another pizza job and janitor job on the side to pay car bill,
look for properties, tell dad abought great deal
he agrees, we finance farm
cut to today
i just built a cabing on a farm i own 1 hour from major city,
car payed off
worked 4 years janitor and pizza deliver
still doing it but land and car feel nice bro

>> No.2627596

>>2624016
My cycle is
>do good
>move up in career
>start getting bored
>start doing drugs again
>crash and burn
>rebuild life
>repeat

>> No.2627610

>>2624645
This is human nature. People naturally trade very poorly. When they start winning, they want to risk on. Locking in your wins involves taking money away from the moon mission. When everything is terrible like 2008 the world wants to abandon everything but guess what, houses will still be around in 2009 and the future.
If you're doing very poorly, you're actually not as bad off as you think. If you're winning everywhere, you're probably not as well off as you think and one even can send you right back to where you were.
Probably the most important thing for a solid financial footing is to keep money moving in the right direction. As long on you're bringing in funds, you have leverage to sort out other issues. People like to throw away money at the promise of money down the road or maybe a hopeful promotion. It's romantic. Play the cards in front of you unless you're calculating the next few that might drop. Investing should be played slow and arbitrage must be played fast.

>> No.2627611

>>2624138
waht made you lose your job?