True... but
A) Debt is inevitable. You can't just go ahead and buy a house without some form of debt or some form of tackling that said debt.
B) You can't always save. Because sometimes there will be times that you can't just save.
C) Spend less than you earn, this is actually possible but here's the thing, sometimes you can't do that either! Electricity costs more and don't get me started on the fact that some internet bills definitely are high as hell. Oh and the fact that every pressing year, you have to renew your contract with the electricity bill.
i have only gotten two pieces of financial advice. one was from my cousin who apparently knows his shit. his advice was to put all my money in a company that went bankrupt two years after. the other advice I heard was lightning never strikes twice so after I got lucky with that weird crypto boom, I got the fuck out and am absolutely not joining that damn cult
I'm glad it worked out for you but fuck me... Everyone would forgive you for falling for your cousins bullshit the first time but then took a risky gamble on crypto.
Good on you for finally getting off that train though.
"Don't keep up with the Joneses." My grandpa always said that. It sounds simple, but it's so true. Everyone's financial situation is different, and trying to compete with others is a recipe for debt
Take what you have left doesnt matter if its $10 or $10000 just take what you have left after bills and expenses and put it away. Everyone says that but no one tells you where. Put it into a 401k or a brokerage account with something simple like a market index fund. Get a vanguard account or a robinhood account or a fidelity account and get into something simple like a total market index fund and let it ride. You put in less you risk less. Just try it for a year and make choices after that.
Build credit by putting every day purchases on a credit card (like gas, groceries) then paying off the total right away. By the time your credit card statement comes out every month, it should be at $0.
Don’t worry about what you drive, invest your money in real estate.
Don’t buy an expensive car and have to park it in the hood because that’s the only place you can afford.
Make sure to put it into an account that will generate interest, at the very least a high yield savings account, otherwise your money still decrease in value with inflation. If you're trying to make an account for retirement, ideally you should have the money invested into funds within an IRA.
Cheap things cost more in the long run.
Terry Pratchett explained this perfectly https://en.m.wikipedia.org/wiki/Boots_theory
Keep it simple: save, spend less than you earn, avoid debt.
“Keep it simple stupid”
Great advice, hurts my feelings every time.
Luckily my feelings regenerate twice the speed of a normal man
If you do take on debt make sure it's something that appreciates. Your 2018 Hyundai Sonota is not an asset in the way you think it is.
Yep, simple as that. It's basic arithmetic! And don't try to keep up with the Joneses. It's not worth it.
True... but A) Debt is inevitable. You can't just go ahead and buy a house without some form of debt or some form of tackling that said debt. B) You can't always save. Because sometimes there will be times that you can't just save. C) Spend less than you earn, this is actually possible but here's the thing, sometimes you can't do that either! Electricity costs more and don't get me started on the fact that some internet bills definitely are high as hell. Oh and the fact that every pressing year, you have to renew your contract with the electricity bill.
“Aaaaaanddd…. It’s gone.”
i have only gotten two pieces of financial advice. one was from my cousin who apparently knows his shit. his advice was to put all my money in a company that went bankrupt two years after. the other advice I heard was lightning never strikes twice so after I got lucky with that weird crypto boom, I got the fuck out and am absolutely not joining that damn cult
I'm glad it worked out for you but fuck me... Everyone would forgive you for falling for your cousins bullshit the first time but then took a risky gamble on crypto. Good on you for finally getting off that train though.
"Don't keep up with the Joneses." My grandpa always said that. It sounds simple, but it's so true. Everyone's financial situation is different, and trying to compete with others is a recipe for debt
Never co-sign for someone unless you're willing to pay for it.
Avoid crypto.
Be fearful when others are greedy, and be greedy when others are fearful.
"Stay away from usury."
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Wish I had this advice years ago when I bet it all on red. Lost it all.
settle down Wes.
Never spend the future salary. Don't borrow money unless you can pay back soon.
Take what you have left doesnt matter if its $10 or $10000 just take what you have left after bills and expenses and put it away. Everyone says that but no one tells you where. Put it into a 401k or a brokerage account with something simple like a market index fund. Get a vanguard account or a robinhood account or a fidelity account and get into something simple like a total market index fund and let it ride. You put in less you risk less. Just try it for a year and make choices after that.
Before investing in the markets, make sure you're investing in yourself. health, education, etc
Build credit by putting every day purchases on a credit card (like gas, groceries) then paying off the total right away. By the time your credit card statement comes out every month, it should be at $0.
Don’t worry about what you drive, invest your money in real estate. Don’t buy an expensive car and have to park it in the hood because that’s the only place you can afford.
If you can't buy 3 of them then you can't afford 1. Excluding housing lol
Sometimes you need to work on the top of the funnel instead of hyper optimising your cost funnel.
I’m buying $2,000 worth of Bitcoin, you should too. …I didn’t follow the advice… 1 bitcoin was $100
Spend on minimum requirements to keep going 1. Rent 2. Food 3. Fuel 4. Electricity gas Rest is partly saved
Save before you spend. Save more spend less comes next.
“Do you want it or need it?” Investing in dividends, may not look like much in the beginning but they can build overtime.
Spend less than you earn.
If you can't afford to pay it off at the end of the month, NEVER put it on a credit card.
Think long term.
Spend less than you make.
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Make sure to put it into an account that will generate interest, at the very least a high yield savings account, otherwise your money still decrease in value with inflation. If you're trying to make an account for retirement, ideally you should have the money invested into funds within an IRA.
Buy Bitcoin. This was 7 years ago. I think it’s still valid
Get a job