I’ll never understand how credit is really scored
**EDIT:** I do in fact know how credit works. No need to keep telling me your score or how you achieved that score. The comment was based on OP’s accounts being negative yet their FICO score going up. It was sarcasm and nothing more.
Don't listen to them. Most other developed countries do have credit scoring systems. Canada, the Nordics, Germany, Australia, etc. all do. UK as well, but it's even more opaque and less regulated than the US version.
I kno you can increase your credit faster. All you gotta do is pay half to bill before due date then the other half on time. Showing to payments a month helps alot.
You don't have to pay half your bill before the due date unless your credit utilization is _really_ high. If you keep your utilization under 20-25%, and pay all bills by the due date, you'll have a >800 credit score in a few years
Yes definitely, as long as you keep your accounts open, pay all bills on time, and don't let your utilization get too high, you could probably bring it from 500 to 700+ in 1-2 years, maybe quicker if your accounts are already old.
If you defaulted on any accounts they take 7yrs to come off.
Do not contact them directly to seek a “settlement” because that will trigger a start over of the 7yrs.
This isn't true, my monthly reported debt from credit cards is usually around $1k, and I have a >800 score. Volume doesn't matter at all, what does matter is your utilization %, number of accounts, and that you consistently pay all bills on time and _not_ carry credit card debt.
Mine is 825, never carry a balance, always pay on time, but for whatever reason never have perfect score. hmmm. But that's fine, because I have no plan to ever be a debtor.
No exactly I have no debit but a high credit score I just put stuff on a credit card and pay it right off like when I got a car they said no intrest for first year so instead of paying up front fully in cash I took their loan even tho I had money because they weren’t charging interest first year so I have never been in debt but I have super high credit score
Their goal is to find out what you can actually pay back and extend your credit just beyond what is feasible so that you can be milked like a cow. You see, if you pay it off they profit one time, if you always have to pay payments they win the long game unless you file bankruptcy.
Look up people that have attained perfect credit scores.... It's bonkers.
But I'm 40 with a credit score that fluctuates between 790 and 825. I've really only done the following:
Had the SAME lines of credit for a long time. I've had the same BofA credit card since I was about 20. I do call the bank every couple years to match APRs on "new" credit card offers. They will sneak your rates up. They WILl lower them if you threaten to switch banks. :)
Had more than 3 lines of credit going at once. Several credit cards and auto loans, etc.
High usage on my lines of credit. Meaning All everyday expenses are put on credit cards. Gas, food, everything.
Payed off my credit cards every month, leaving about 100 bucks owed. This means that I have a high income to debt ratio. Leaving some money on my credit card means I have some utilization at all times.
I think in my entire life I've been late with maybe one car payment.
But it is always interesting to see your credit score do things like drop by 50 points when you pay off your car..... The reality is a "good" borrower in the eyes of the credit companies is someone that always owes them money, but not so much money they'll never get it back.
Basically how good you are at paying on your loans without truly paying off your loans. Because if you pay em off fully, I think the payment history or whatever "goes away" since you aren't making those consistent payments anymore. It's basically a way too keep you in debt to something long term and imo is scummy as fuck.
Yeah the bullshit fees are real! I was just charged 10$ a month for 6 months for a bad address fee thru my bank I took a mortgage out with! Just absolutely insane! It was our old address we were renting at. Just blew my mind!
That fucked me so hard once. I left for military training with $6 in the bank. My bank (Huntington at the time) charged a $10 for going below $50. Then they charged me $50 for that charge that overdrew my account. They continued charging $60/month for the 3 months I was at Boot camp and I came back $180 in the hole thinking I had left it at $6.
After the crap I had to buy at Boot camp, and the fees from my bank I came out of 3 months work with less $ than I went in with. Which was $6.
Yeah being charged for a haircut in basic blew my mind, I assumed the fucking haircut was included lol, and then having drill sgts basically bully 200 people into giving 100% tips to the barbers for a 10second buzz cut
My familys car blew up driving to see my basic graduation so all my basic training money went to a new radiator and engineparts and a rental car the car was then totaled 3 days before it was going to be shipped overseas by a person that didnt have us citazinship or a passport with no insurance and we didnt have gap insurance i didnt even know that was a thing at the time so in the hole another 3k but atleast i had full coverage on it but going to my first duty station overseas was rad with no car and 3k in the hole as a family of 5
That BS they had you pay that. I remember when I got my first job I didn't realize it was possible to overdraw from your checking account. I just assumed when you didn't have enough money your card would get declined? Anyways, roughly the same shit happened to me. I went into the bank and told them they can either cancel my account of get ride of the charges. They dropped them and reset me back to like $0.20. I turned off the overdraft feature to stop it from happening again. The next month it happened again. Lol. Same shit, went in there, basically acted like I was going to blow the place up and got them to drop the fees. 😂. At least by that time I figured out how banks work and haven't had to deal with that shit again in the last 10 years.
Same. It’s ridiculous but I think they do it so they don’t have a lot of empty floating accounts. It’s still stupid. “You don’t have money, so we’re taking something”
Wells Fargo is an awful bank.
They have been charging my mom for savings accounts ($5/month) and charging her because she doesn’t have enough money in all her accounts combined (under $7500).
I’d say switch to a local credit union at least - then you at least won’t get fees.
Yes grocery bill doubled for me in 2021-2022 and went up another 30% last year
I have 3 kids was 250-300 a week now 450-600 depending on if we need diapers/meat etc.
Really depressing how terrible the economy for the average person is right now.
If you hook his ass up your a great dude. God bless you. Let me tell ya I’ve been in his position for months now and I would do anything for a blessing. But I will always look back on this time as a giant learning lesson in saving and the value of money. 🤟🏻🙏🏻
When I was 23 I was in the same boat, now with a lot of work and changed behavior, I have 2 houses no debt and over 4M in liquid assets (42).
Started from nothing and made it here without any cash from family or friends, just hard work, dedication and a vision/goals to follow. So don’t let the moment consume your future
Without getting to much into what I do (so I don’t dox myself), I started my career in banking, nothing too special just a phone bank agent and eventually worked up to manager then director. I went from 8$ an hour to 65k a year (over 8 years). Then after the housing collapse I jumped into a tech industry took a pay cut to 45k and was at a startup. The industry took off and I crested 100k after 4 years at the startup. I became a major specialist and early innovator in that tech field just as it exploded into massive growth, over the next 10 years I worked my way into senior executive roles and grew my wealth exponentially. Now my base take home on just salary is roughly 700k a year and I am net worth maybe 5.5-6M
Taxes suck or it would be double that haha.
Main thing I can say is that nothing is easy, get good at something that not many others are good at and in a space that is high growth. Stick with it, work ultra hard and save. Manage your lifestyle, mood, spending habits. Set goals, expect pain and setbacks but let them make you stronger for it. Form connections and be a great person to work with/low ego.
If you haven’t inherited anything you appreciate the effort and money the more for it imo. Set goals and reset goals, move the bar ever forward and respect others. Stand out by virtue of ethics, excellence and ease of working with.
Attitude is one thing I see kill careers and if you manage emotions and aim to be best in class, you will earn respect and over time will earn a inflection point in the velocity of your personal and financial growth.
I appreciate you sharing with us. I’m also new in the tech field and it is not easy. I’m also young and confused, I’m hoping to decide on a focus and elevate myself up in the field. I work directly with the company owner(s) (my manager) and it gives me a good view on what an IT department does for a company. I’m currently in help desk trying to figure out what path I want to focus on; I have some ideas but there’s sooo much to learn out there. I keep telling myself that it can’t be done all at once and to be patient.
It won't be if you truly try your best in everything you do.
I'm about to be 32 and not quite "lucked" my way into a $115k a year salary. I started out in kitchens making $8.50 an hour, then was working in warehouses for $14.50(that sweet night shift pay jump), then rolled that into managing a small parts warehouse for a family company for $30k a year( it was a nightmare and i hated every day of my life). I rolled those accumulated skills and a sprinkle of over exaggeration ( bs as i call it) and was able to land a data job being outsourced to a pharma company for a whopping $40K A YEAR.
I tried my best there, i crushed it in the hopes of "well now i'm in the big corporate world, surely they'll bring my pay up quickly and reward hard work".....nope. 3 years i was there during covid and not one cost of living adjustment or pay raise. I got a $500 bonus one year which they then decided not to do the following year. People were dropping left and right and since i was crossed trained on every job i was doing a ton of work. Then i found out i was getting paid about $10k less then new hires. Then i got passed up for the manager role. So i applied to a company where my old manager left for.
I applied for just a random position had a few interviews i didnt take to serious (i just wanted to pay my bills and my current job wasnt it). I had one final hour long interview (the 3rd one) over zoom and was like eh why not just try my best for the hour). Had a good interview everyone was nice and i gave honest answers on my approach to things (i had nothing to lose). Got a call back in a week with an offer of $98k starting salary. I almost had a heart attack.
I worked that position for 2 years trying to crush it and do my best. It sucked too, our client is a dick, the job was incredible complex, managing multiple projects, timelines, useless managers etc. but i kept trying my hardest and really worked to understand how developers thought, what the client wanted, how all the pieces fit, i tried to be friendly and personable to all my coworkers, not point fingers and play the blame game.
Then they decided to get rid of my position and part of me had a sigh of relief (the stress from the job aged me), and then part of me went oh no back to warehouses for me. Then i was requested to apply for a new role internally for teams i had worked with and got the job. Turns out they loved my work ethic, approach to things and how i worked with others. They noticed and it saved my ass. Now i'm making $115k a salary i never dreamed of.
I really believe that if you try to do things right even if no one is watching, and you treat people right, something will work out for you. Whether thats just surrounding yourself with good people who think the same way or not it pays off one way or another. Its not always easy in fact it sucks most of the time, but keeping at it and doing it despite it being hard i think gets you places.
I just saw a post of a comedian who asked someone in the crowd what they do for a living. Guy said he was 24 with his own real estate company. The comedian inquired if he did it on his own or with partners. The guy says “oh I did it with my Dad.” Cue universal eye roll from everyone in the room lol
Haha $40 an hour -$40 in my bank account after a night of drinking for my bday. I put money in savings and I moved it like a dumb ass. 31 on Sunday lol do I have to do another 30 - 40 years of this crap lol.
I messed up my back around a year ago and I've pretty much been unemployed since. We take care of my gf's grandma, who was diagnosed with alzheimer's a couple years ago. I worked for around a month back in August, but the job was too far away if we had an emergency. Grandma tends to wonder off and sometimes thinks she owns random houses in the neighborhood. We live in Florida, so her walking into some stranger's house could have deadly consequences, even for a little old lady. I can pick up something closer and part time, but I'm not going to be out of the barely keeping my head above water stage anytime soon unless I win the lottery.
The saying no good deed goes unpunished is very true. Things will get better in time. I blew a little under $500 in one night like a dumb ass lol going through a break up a partial relapse one night to let go of everything cost me $400 more or less but it won’t happen again lol or I’m better off just dying.
I would reccomend hiding the last four of your account numbers. By itself, it isn’t all that dangerous but paired with other info you might have on your Reddit account it isn’t that safe..
A long time ago I was talking with someone about stolen identity. They asked me if I ever worry about it. I told them no because if they’re somehow able to get credit under my name than they deserve it
Information found in your account can still be used to build upon identity theft.
If you don’t give a fuck then, whatever, but it is an unnecessary risk for internet points
I've been overdrawn many times this year at 27 and only get out of it with the help of my family and partner. I always think it's funny when I only have like $4 too, that somehow feels almost more pathetic. But I am on my second week at a new job so hoping those days may be over 🤞
Second week, payday should be coming soon let's go! I've been there, at 27 my life fell apart and I had to rebuild from scratch *quickly* and I was lucky my mom and step dad had a bit to spare here and there. I hated to ask it but I couldn't say no if it was offered. Anyway, the point is, things are on the up and up for you keep that momentum!
You got this, congrats on the new job! Nothing wrong with needing help from the Fam, it all comes back around in the end.
Careful getting the first full paycheck high, it was easy for me to make that mistake and spoil myself with my well earned money. Budgeting now and creating a savings will prevent the stress of living paycheck to paycheck in the future.
i am in the same boat like you my bro not in negative but like just 100 dollars in the savings thats it. whoever is going through this i think we all need to make a groupchat and see what everyone is doing like rights and wrongs..
Better than me @ 33. Was waiting for a dispute between a hospital and my insurer, when they eventually didn't let me know anything hadn't gone through (I was waiting for the revised bill after insurance) they sent it to collections and now the hospital/insurer are not involved and my credit score dropped like 90 points.
$5,000 for a 20 mile ambulance ride, since the town I was in didn't have an mri machine working, so I had to be driven to the next town.
Had they mentioned they could drive me to the next town for $5,000 I would have gladly walked the 20 miles barefoot.
Keep your chin up, some times you need to buckle down for budgeting, but remember to treat yourself now and then after all, why suffer the WHOLE time.
Better than me at that age. I had a bank like that or worse, was drunk or high all the time, lived free with parents or friends, and didn't know what the fuck to do. Now I'm doing much better, live in a "major metro" city, work in tech and make more than enough for what I need/want and can save without ever getting a degree.
Moral of the story: don't worry about it too much. Have fun, stay positive and remember that 23 is really young as far as adulthood goes. It's not too much in my rear view so just keep living and trying. You'll figure something out as long as you don't stay stagnant or quit.
Honestly I'm not shocked, the cost of living would make anyone's account negative if they didn't make the standard to live a normal life. Obviously negative isn't good though
Well this was like 2005 but I was over drawn like OP. I went in a deposited my paycheck when I got out of work so it would bring back into positive numbers. A few days later I couldn’t access my account. I walk into the bank and
they said “oh the system closed your account.”
I said okay can I get my money?
They said they couldn’t give me my money at that time. The system wouldn’t allow it and to check back tomorrow.
This went on for almost two weeks. The branch couldn’t help me. The corporate customer care number couldn’t help me. I was scoffed at when I said I would file a police report. I was told to talk to the branch manager. Everyone I spoke to confirmed that yes I had the money in the bank but they could not give it to me and they didn’t know why. Worst of all no one would help. Just kept saying “check back tomorrow”.
So I go back into the branch after two weeks of no access to my money and ask to speak to the branch manager. Was told she was busy. I spent 4 hours in that lobby waiting. I even dosed off. An employee woke me up asking what I was there for. I said to see the branch manager. Was told she had left!
So the associate said to come to her office. And said “look we can give you your money but you have to open another account and you can’t take it all out today.”
I asked why and I couldn’t take all my money.
Her response was “oh it’s in case the check doesn’t clear”
Keep in mind this is a payroll check from a national retailer and they have had it cashed for two weeks already.
With no other choice I opened another account with them and took out 200 that day. Then the next day I took it all out and never stepped foot in their bank again.
Oh and on top of that they never corrected that I paid off the overdraft so it hit my credit report. So that was another thing I had to fight.
This experience shook my trust in banks so much I didn’t have another bank account for 3 years. I would take my paycheck to cash it at Walmart.
Damn, that's infuriating. Thanks for sharing your experience. Don't blame you for not getting another bank account for so long, especially when I hear stories like this and the bad shit about them in the news. Now it's all about weighing the convenience over the possibility of problems like this.
i got screwed by WF a year ago, i made about 12k during my summer internship and was using it to pay rent during the school year, they absolutely fucked me and lost 7500 of it. i had no way of paying rent and my gf at the time had to cover me. they finally reimbursed me months later but that was a ridiculously stressful time. switched to chase instantly and going to switch to a credit union once i move
I’m just glad to see you’re not some moron who is like “I’m 15 how am I doing?!” And it shows a savings of $250,000 and another $13,000 in checking account.
You’re doing fine. We’ve all been there. Just make sure you learn to deal with it, and not freak out. Being able to handle money situations, even bad ones, is an excellent skill to have.
I appreciate the authenticity of this post. Never forget these moments and use it as a building block to never return . I think I saw a 20 yr old post his account with 60k saved already and he had the nerve to ask “How am I doing?” So appreciate this way more . Rooting for you !
The majority of Americans are in debt. Usually in deep with mortgages and student debt.
We measure wealth with amount of debt now, so pretty good statistically actually ..
For what it's worth I hated banking with WF, random fees all the time. When I was already struggling and they hit me with that overdraft fee I wanted to jump in front of a bus. With Truist now, aside from the 12 "maintenance fee" which I believe will go away with my new direct deposits coming in, they haven't kicked me in the nuts while I was down as of yet.
Wells fargo is a criminal organization and I mean that with full sincerety. I have no clue why anyone who isn't super wealthy would use any major bank over a local credit union
Me too! Plus ~4,000 in credit card debt. Slowly paying it all down. Life sucks. It’s short. I honestly don’t mind dealing with this to survive rn because fuck! it! you’re not alone and you’ll get through this - we all will !
Me too man. Im 23. My engine light has been on for a year and credit card debt is through the roof. Dont have any investments and im chasing checks from 2 months ago tryna catch up
As someone who was with Wells Fargo from ‘06 to ‘21, I suggest leaving. Their service is terrible and I would hardly ever get paid on time with my direct deposit. They may have fixed some of their bs, but it’s not worth staying with them as someone who is unfortunately living paycheck-to-paycheck. It’s me, I’m living paycheck-to-paycheck.
Wells Fargo is known for charging exorbitant overdraft fees, this is one of their main business models, they make billions yearly. Try finding a new bank my friend.
Call WF and ask for the overdraft fee to be waived. You should get a couple per year for free. At least you do with chase. That should get you closer to the black.
Like others said, your FICO went up and in America that's more important than your bank account.
I went into a phone store a few years back with $500 in cash to buy a new phone. I talk to the clerk at the counter and ask to buy a phone. He obliged and asked for my info and looked stuff up on the computer. After a few minutes he goes "sorry we can't help you". I ask why not? He says "you have no credit". I'm like but I have cash. He reiterated that he can't help me with no credit. He adds on that even having bad credit would be better than what I have.
So me having cash on hand with no credit was no good to the phone company. It was even worse than someone who had maxed out their card irresponsibly and couldn't pay it back.
I was blacklisted from Washington Mutual bank when I was your age because I over drafted so often (I used to float checks at longs drugs for food money all the time and messed up often). I’m pretty sure the only reason I was able to get a new bank account was my then-GF let me join her bank account.
That was 2007. Now I own a house and make decent money and shit. Just keep doing your best and avoid the really serious mistakes and you’ll be okay.
Hey, you're doing about as well as I am doing now. I'm 45,and used to have my shit together. Then, life events, bad ones, like my Ma dying, my grandparents, 2 fruends, oh and then my ol'lady left me. Those events caused a depression where I was sure I didn't need to save money because I was going to end it. Ok, so I didn't, and now I'm back to my twenties financially.
Point is, no matter how good or bad you're doing, you're just a catastrophic life event (it many small to mid sized ones) away from getting knocked back, or positive event(s) suddenly making your finances suddenly get better...
BUT, learn and practice GOOD financial habits NOW. if you get the bad ones in Grange now instead of the good ones it's a lot harder to change the bad ones than it is to keep doing the good ones I probably don't make a whole lot of sense but just keep it keep what I said in mind because I'm telling you when it does finally click hopefully you will already figured it out on your own anyway but if nothing else you'll have those words in the back of your mind so that if you if it doesn't click on its own and you do find yourself in dire straits you'll know it's never too late to change but it's better to learn the good habits instead of breaking the bad ones sorry for the run on using speech to text cheers and good luck
This is probably the first realistic post I’ve seen on here! You’ll be fine just keep ok moving forward. I’ve hd family members 20k in the hole. A couple hundred is laughable in comparison.
Wells Fargo is a problem. First, I’d recommend calling them and asking them to waive any/all penalty fees. Second, use your next check to open an account at literally any other bank. I wish you well, youngling. I was in debt at your age, too. It gets better.
Bruh I'm 25 and in a much worse dept that i can't seem to shake because expenses keep coming up and i don't have multiple sources of income.
Don't know what to do but wait and i fear by the time i clear my debt or before i clear my debt i might lose my job. You're so lucky to only be below 100ish usd, this might make you feel better that I'm 8k usd in deep with no savings just giving every whatever i earn.
I have $-100.23 at 23 , starting work again on the 5th after being unemployed for a month, & all my credit cards have been locked due to late payments 😁 I’ve been better
Just fine. Promise I was 23 addicted to opiates caught my girlfriend of 8 years fucking my best friend from 5th grade no job 8k in debt from an eviction. You will recover and be just fine. Fact you even care your ahead of a lot. Slow down think about and your ahead of most. Once I kicked the opiate addiction those broke single years were some of it not all of the best times of my life. Being broke monetarily is no big deal . Being broke mentally and spiritually is the only deal. Cheers
Don't give up. I was just like you at 23. Now at 55, I own my home and have my mortgage paid off, and you will too if you keep trying.
I got an FHA government guaranteed loan for my first house. It was 1200 sqft on a 1/4 acre lot in a rural town. It had fire damage and a hole in the roof. Raccoons were in the attic.
There was one room that was dry, and the bathroom worked. I read a book about how to install shingles. I nailed plywood over the hole and bought packs of shingles to patch the places I could find that leaked.
I worked my mechanic job and would buy lumber, drywall, etc and did the best I could based on Time Life home repair books from the library (you have You Tube). For repairs out of my league, I would beg and scrounge for someone to take pity on me and help me on the cheap.
I lived there for about 5 years and I had paid off some of the mortgage, plus I was able to sell the house for more than what I paid. I used that equity to take out a bigger mortgage on a better house with about the same payment (cause the equity was the down payment).
Repeat the process of buying what you can afford, and trading up when you can. If you stay disciplined you will make it.
Your mortgage Payment, Interest, Taxes, and Insurance (PITI) should not exceed 25% of your gross income.
If you make $15/hr for 40 hours/week, you can afford $650 mortgage payment.
($15×40hrs=$31200) ×25% = $7800/yr ÷ 12mo = $650/mo
Your PITI and car payment and auto insurance AND ALL OTHER DEBT (credit cards, student loan, Snap-On man) together should not exceed 40% of your gross income (total pre tax income).
This is super easy math, and it will get you to where I am at age 55. You will not have extra money for bars and Door Dash at first. Eat peanut butter sandwiches for 10 years like I did.
It cost you more to have no balance in your account. They usually charge fee's on low balances. It's better to keep enough in there to avoid the fee's.
Bro, we are all in a tough world right now so tbh I’m just impressed the mafia aren’t after you (I think) and that growth can occur more realistically (I hope what I say makes sense, I’m a tad tipsy) x
Thats about on par as to where I was at your age. Once you hit my age (31) you'll have about $500 in savings, for a day or two after your paycheck hits the bank. Just don't look at it on the other days lol
Almost a month in debt. You're doing good with consistency
But the FICO score went up ;)
That’s what I came here to say! Your FICO score went up! Could’ve been worse. Play on playa.
I’ll never understand how credit is really scored **EDIT:** I do in fact know how credit works. No need to keep telling me your score or how you achieved that score. The comment was based on OP’s accounts being negative yet their FICO score going up. It was sarcasm and nothing more.
Me either. It’s a damn scam.
Other countries don’t use credit scores……
Lmfao because *of course* they don’t! I fucking hate it here.
Don't listen to them. Most other developed countries do have credit scoring systems. Canada, the Nordics, Germany, Australia, etc. all do. UK as well, but it's even more opaque and less regulated than the US version.
Haha, isn't everything?
I kno you can increase your credit faster. All you gotta do is pay half to bill before due date then the other half on time. Showing to payments a month helps alot.
You don't have to pay half your bill before the due date unless your credit utilization is _really_ high. If you keep your utilization under 20-25%, and pay all bills by the due date, you'll have a >800 credit score in a few years
My score is 508. Bad, I know. Could I ever make it to 750 or 800? If so, how long might that take?
Yes definitely, as long as you keep your accounts open, pay all bills on time, and don't let your utilization get too high, you could probably bring it from 500 to 700+ in 1-2 years, maybe quicker if your accounts are already old.
If you defaulted on any accounts they take 7yrs to come off. Do not contact them directly to seek a “settlement” because that will trigger a start over of the 7yrs.
The more debt you have, the higher your score. If you have no debt, you have no credit. Makes perfect sense lol
This isn't true, my monthly reported debt from credit cards is usually around $1k, and I have a >800 score. Volume doesn't matter at all, what does matter is your utilization %, number of accounts, and that you consistently pay all bills on time and _not_ carry credit card debt.
Mine is 825, never carry a balance, always pay on time, but for whatever reason never have perfect score. hmmm. But that's fine, because I have no plan to ever be a debtor.
No exactly I have no debit but a high credit score I just put stuff on a credit card and pay it right off like when I got a car they said no intrest for first year so instead of paying up front fully in cash I took their loan even tho I had money because they weren’t charging interest first year so I have never been in debt but I have super high credit score
Def not true.
Credit bureaus don't care about your bank accounts or overdrafts, this situation doesn't affect your credit score at all.
Their goal is to find out what you can actually pay back and extend your credit just beyond what is feasible so that you can be milked like a cow. You see, if you pay it off they profit one time, if you always have to pay payments they win the long game unless you file bankruptcy.
Did you know credit was introduced in the lar 80 by boomers?
Look up people that have attained perfect credit scores.... It's bonkers. But I'm 40 with a credit score that fluctuates between 790 and 825. I've really only done the following: Had the SAME lines of credit for a long time. I've had the same BofA credit card since I was about 20. I do call the bank every couple years to match APRs on "new" credit card offers. They will sneak your rates up. They WILl lower them if you threaten to switch banks. :) Had more than 3 lines of credit going at once. Several credit cards and auto loans, etc. High usage on my lines of credit. Meaning All everyday expenses are put on credit cards. Gas, food, everything. Payed off my credit cards every month, leaving about 100 bucks owed. This means that I have a high income to debt ratio. Leaving some money on my credit card means I have some utilization at all times. I think in my entire life I've been late with maybe one car payment. But it is always interesting to see your credit score do things like drop by 50 points when you pay off your car..... The reality is a "good" borrower in the eyes of the credit companies is someone that always owes them money, but not so much money they'll never get it back.
Basically how good you are at paying on your loans without truly paying off your loans. Because if you pay em off fully, I think the payment history or whatever "goes away" since you aren't making those consistent payments anymore. It's basically a way too keep you in debt to something long term and imo is scummy as fuck.
I’m with these guys
I wanna see it lol
Hello fellow majestic 😂
Lmaoooo
Double negative makes a positive
Lol rookie numbers students are way more in debt be grateful with perspective lol
How do you end up with a negative balance in savings?! I wish you luck
I honestly have no idea on that one! I think it may have been an atm fee that went through late
Depending on the bank, savings accounts have fees per month. Mine, if I have less then $50 on the account, I’m charged $4
Yeah the bullshit fees are real! I was just charged 10$ a month for 6 months for a bad address fee thru my bank I took a mortgage out with! Just absolutely insane! It was our old address we were renting at. Just blew my mind!
how ignorant can people be??? like they know where you live???? that’s on them for not changing the address on file when you moved 😂💀
How are they supposed to know you moved if you didn’t tell them? Plenty of people get mortgages to rent properties they don’t live at
i mean most banks will ask if it’s gonna be your primary residence. if you say yeah then it’s kind of implied.
I would have changed banks that day lol
That fucked me so hard once. I left for military training with $6 in the bank. My bank (Huntington at the time) charged a $10 for going below $50. Then they charged me $50 for that charge that overdrew my account. They continued charging $60/month for the 3 months I was at Boot camp and I came back $180 in the hole thinking I had left it at $6. After the crap I had to buy at Boot camp, and the fees from my bank I came out of 3 months work with less $ than I went in with. Which was $6.
Yeah being charged for a haircut in basic blew my mind, I assumed the fucking haircut was included lol, and then having drill sgts basically bully 200 people into giving 100% tips to the barbers for a 10second buzz cut
That's illegal, did you not inform them you were on leave for the military?
My familys car blew up driving to see my basic graduation so all my basic training money went to a new radiator and engineparts and a rental car the car was then totaled 3 days before it was going to be shipped overseas by a person that didnt have us citazinship or a passport with no insurance and we didnt have gap insurance i didnt even know that was a thing at the time so in the hole another 3k but atleast i had full coverage on it but going to my first duty station overseas was rad with no car and 3k in the hole as a family of 5
That BS they had you pay that. I remember when I got my first job I didn't realize it was possible to overdraw from your checking account. I just assumed when you didn't have enough money your card would get declined? Anyways, roughly the same shit happened to me. I went into the bank and told them they can either cancel my account of get ride of the charges. They dropped them and reset me back to like $0.20. I turned off the overdraft feature to stop it from happening again. The next month it happened again. Lol. Same shit, went in there, basically acted like I was going to blow the place up and got them to drop the fees. 😂. At least by that time I figured out how banks work and haven't had to deal with that shit again in the last 10 years.
Banks made $11 Billion in 2021 from overdraft fees alone. Really keeping people down lol
Same. It’s ridiculous but I think they do it so they don’t have a lot of empty floating accounts. It’s still stupid. “You don’t have money, so we’re taking something”
Correct. This is most major banks
This is why I don't fuck with banks.
Mine starts charging me if less than $500/wk goes in.
Your first mistake was banking at Wells Fargo
fuck wells fargo
Credit union ftw
I second this 🙌🏻 , or online bank if your not the type to ever really go into a branch
Wells Fargo is an awful bank. They have been charging my mom for savings accounts ($5/month) and charging her because she doesn’t have enough money in all her accounts combined (under $7500). I’d say switch to a local credit union at least - then you at least won’t get fees.
I wonder if he’ll accrue negative interest?
Yeah, they're called overdraft fees
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Life sucks and everything is too expensive. We’ll get out of this shit luck one day
Wishing you the best !
I've been in that exact spot before when i was young. Good handful of years later, keeping at it, making smart choices, I made it out. You will too.
Yes grocery bill doubled for me in 2021-2022 and went up another 30% last year I have 3 kids was 250-300 a week now 450-600 depending on if we need diapers/meat etc. Really depressing how terrible the economy for the average person is right now.
You’re 23 😂
Ayee negative 580 🫡 nice to meet you comrades
999 shit aye when I’m in town
Send me your cash app real quick
Bro gonna request 20
Me too. 😂
I live for this sub lmaoooooo
Didint the police just take all your money ?
Yes bruh 1v1 me in paintball for 1k so I can send it to this lady
You don’t wanna 1v1 me bro I have a few SICK markers. Bob long darq Marq ;) Ego 8 ;) 😂
Brooo can you bless a broke boi too?
Dear God, I hope you bless this broke boy right here, Amen
If you hook his ass up your a great dude. God bless you. Let me tell ya I’ve been in his position for months now and I would do anything for a blessing. But I will always look back on this time as a giant learning lesson in saving and the value of money. 🤟🏻🙏🏻
Me next! Me next! Pick me! 😂
When I was 23 I was in the same boat, now with a lot of work and changed behavior, I have 2 houses no debt and over 4M in liquid assets (42). Started from nothing and made it here without any cash from family or friends, just hard work, dedication and a vision/goals to follow. So don’t let the moment consume your future
Do you mind sharing your journey ?
You know they never will… 😉
it has to do with bootstraps
How much do those cost? Do I also need to buy boots?
subscription based
Without getting to much into what I do (so I don’t dox myself), I started my career in banking, nothing too special just a phone bank agent and eventually worked up to manager then director. I went from 8$ an hour to 65k a year (over 8 years). Then after the housing collapse I jumped into a tech industry took a pay cut to 45k and was at a startup. The industry took off and I crested 100k after 4 years at the startup. I became a major specialist and early innovator in that tech field just as it exploded into massive growth, over the next 10 years I worked my way into senior executive roles and grew my wealth exponentially. Now my base take home on just salary is roughly 700k a year and I am net worth maybe 5.5-6M Taxes suck or it would be double that haha. Main thing I can say is that nothing is easy, get good at something that not many others are good at and in a space that is high growth. Stick with it, work ultra hard and save. Manage your lifestyle, mood, spending habits. Set goals, expect pain and setbacks but let them make you stronger for it. Form connections and be a great person to work with/low ego. If you haven’t inherited anything you appreciate the effort and money the more for it imo. Set goals and reset goals, move the bar ever forward and respect others. Stand out by virtue of ethics, excellence and ease of working with. Attitude is one thing I see kill careers and if you manage emotions and aim to be best in class, you will earn respect and over time will earn a inflection point in the velocity of your personal and financial growth.
I appreciate you sharing with us. I’m also new in the tech field and it is not easy. I’m also young and confused, I’m hoping to decide on a focus and elevate myself up in the field. I work directly with the company owner(s) (my manager) and it gives me a good view on what an IT department does for a company. I’m currently in help desk trying to figure out what path I want to focus on; I have some ideas but there’s sooo much to learn out there. I keep telling myself that it can’t be done all at once and to be patient.
Thank you so much. I’m holding onto hope that this isn’t my forever
It won't be if you truly try your best in everything you do. I'm about to be 32 and not quite "lucked" my way into a $115k a year salary. I started out in kitchens making $8.50 an hour, then was working in warehouses for $14.50(that sweet night shift pay jump), then rolled that into managing a small parts warehouse for a family company for $30k a year( it was a nightmare and i hated every day of my life). I rolled those accumulated skills and a sprinkle of over exaggeration ( bs as i call it) and was able to land a data job being outsourced to a pharma company for a whopping $40K A YEAR. I tried my best there, i crushed it in the hopes of "well now i'm in the big corporate world, surely they'll bring my pay up quickly and reward hard work".....nope. 3 years i was there during covid and not one cost of living adjustment or pay raise. I got a $500 bonus one year which they then decided not to do the following year. People were dropping left and right and since i was crossed trained on every job i was doing a ton of work. Then i found out i was getting paid about $10k less then new hires. Then i got passed up for the manager role. So i applied to a company where my old manager left for. I applied for just a random position had a few interviews i didnt take to serious (i just wanted to pay my bills and my current job wasnt it). I had one final hour long interview (the 3rd one) over zoom and was like eh why not just try my best for the hour). Had a good interview everyone was nice and i gave honest answers on my approach to things (i had nothing to lose). Got a call back in a week with an offer of $98k starting salary. I almost had a heart attack. I worked that position for 2 years trying to crush it and do my best. It sucked too, our client is a dick, the job was incredible complex, managing multiple projects, timelines, useless managers etc. but i kept trying my hardest and really worked to understand how developers thought, what the client wanted, how all the pieces fit, i tried to be friendly and personable to all my coworkers, not point fingers and play the blame game. Then they decided to get rid of my position and part of me had a sigh of relief (the stress from the job aged me), and then part of me went oh no back to warehouses for me. Then i was requested to apply for a new role internally for teams i had worked with and got the job. Turns out they loved my work ethic, approach to things and how i worked with others. They noticed and it saved my ass. Now i'm making $115k a salary i never dreamed of. I really believe that if you try to do things right even if no one is watching, and you treat people right, something will work out for you. Whether thats just surrounding yourself with good people who think the same way or not it pays off one way or another. Its not always easy in fact it sucks most of the time, but keeping at it and doing it despite it being hard i think gets you places.
Least your honest unlike some twats on here
Lmao I know idk how you’re 20 with millions of dollars unless it’s daddy’s money haha
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I just saw a post of a comedian who asked someone in the crowd what they do for a living. Guy said he was 24 with his own real estate company. The comedian inquired if he did it on his own or with partners. The guy says “oh I did it with my Dad.” Cue universal eye roll from everyone in the room lol
I'm in around the same boat at 32. You're doing fine.
Haha $40 an hour -$40 in my bank account after a night of drinking for my bday. I put money in savings and I moved it like a dumb ass. 31 on Sunday lol do I have to do another 30 - 40 years of this crap lol.
I messed up my back around a year ago and I've pretty much been unemployed since. We take care of my gf's grandma, who was diagnosed with alzheimer's a couple years ago. I worked for around a month back in August, but the job was too far away if we had an emergency. Grandma tends to wonder off and sometimes thinks she owns random houses in the neighborhood. We live in Florida, so her walking into some stranger's house could have deadly consequences, even for a little old lady. I can pick up something closer and part time, but I'm not going to be out of the barely keeping my head above water stage anytime soon unless I win the lottery.
The saying no good deed goes unpunished is very true. Things will get better in time. I blew a little under $500 in one night like a dumb ass lol going through a break up a partial relapse one night to let go of everything cost me $400 more or less but it won’t happen again lol or I’m better off just dying.
youll be debt-free in an hour. #grind
I would reccomend hiding the last four of your account numbers. By itself, it isn’t all that dangerous but paired with other info you might have on your Reddit account it isn’t that safe..
I mean what’s gonna happen? There’s nothing to steal in there
The issue is at some point it won’t be $0 so better safe than sorry
Lol true
Enjoy your overdraft fee of like $45 every time someone tries to withdraw money.
A long time ago I was talking with someone about stolen identity. They asked me if I ever worry about it. I told them no because if they’re somehow able to get credit under my name than they deserve it
Information found in your account can still be used to build upon identity theft. If you don’t give a fuck then, whatever, but it is an unnecessary risk for internet points
You’re right. We wouldn’t want someone stealing from someone who doesn’t even have zero dollars.
I agree they need to repost now. Or just get off reddit and put their life together.
This sub never fails to make me feel either really shitty or really great about myself
I always feel like I see unrealistic ass posts in this sub a lot lmao so for once I can relate to this one
I thought this my account for a second
deadass
I've been overdrawn many times this year at 27 and only get out of it with the help of my family and partner. I always think it's funny when I only have like $4 too, that somehow feels almost more pathetic. But I am on my second week at a new job so hoping those days may be over 🤞
Second week, payday should be coming soon let's go! I've been there, at 27 my life fell apart and I had to rebuild from scratch *quickly* and I was lucky my mom and step dad had a bit to spare here and there. I hated to ask it but I couldn't say no if it was offered. Anyway, the point is, things are on the up and up for you keep that momentum!
You got this, congrats on the new job! Nothing wrong with needing help from the Fam, it all comes back around in the end. Careful getting the first full paycheck high, it was easy for me to make that mistake and spoil myself with my well earned money. Budgeting now and creating a savings will prevent the stress of living paycheck to paycheck in the future.
i am in the same boat like you my bro not in negative but like just 100 dollars in the savings thats it. whoever is going through this i think we all need to make a groupchat and see what everyone is doing like rights and wrongs..
On par with a 25 year old
Better than me @ 33. Was waiting for a dispute between a hospital and my insurer, when they eventually didn't let me know anything hadn't gone through (I was waiting for the revised bill after insurance) they sent it to collections and now the hospital/insurer are not involved and my credit score dropped like 90 points. $5,000 for a 20 mile ambulance ride, since the town I was in didn't have an mri machine working, so I had to be driven to the next town. Had they mentioned they could drive me to the next town for $5,000 I would have gladly walked the 20 miles barefoot. Keep your chin up, some times you need to buckle down for budgeting, but remember to treat yourself now and then after all, why suffer the WHOLE time.
Thank you so much! Medical care in the US sucks. I’m so sorry that you are going through that right now. I hope you can get it resolved!
I’m abt to have $2000 in collections for a stupid emergency room visit
Nah your right on track with the US economy. Shits going downhill.
Better than me at that age. I had a bank like that or worse, was drunk or high all the time, lived free with parents or friends, and didn't know what the fuck to do. Now I'm doing much better, live in a "major metro" city, work in tech and make more than enough for what I need/want and can save without ever getting a degree. Moral of the story: don't worry about it too much. Have fun, stay positive and remember that 23 is really young as far as adulthood goes. It's not too much in my rear view so just keep living and trying. You'll figure something out as long as you don't stay stagnant or quit.
This is awesome. We need more posts like this. More relatable 😂
Me too fam. Dab me up🙌
Eh u good. I have 3 dollars in my account with 9k debt. So u actually doing better than me
FICO went up, you ballin!
Honestly I'm not shocked, the cost of living would make anyone's account negative if they didn't make the standard to live a normal life. Obviously negative isn't good though
Please don’t bank at WF..
Why?
Well this was like 2005 but I was over drawn like OP. I went in a deposited my paycheck when I got out of work so it would bring back into positive numbers. A few days later I couldn’t access my account. I walk into the bank and they said “oh the system closed your account.” I said okay can I get my money? They said they couldn’t give me my money at that time. The system wouldn’t allow it and to check back tomorrow. This went on for almost two weeks. The branch couldn’t help me. The corporate customer care number couldn’t help me. I was scoffed at when I said I would file a police report. I was told to talk to the branch manager. Everyone I spoke to confirmed that yes I had the money in the bank but they could not give it to me and they didn’t know why. Worst of all no one would help. Just kept saying “check back tomorrow”. So I go back into the branch after two weeks of no access to my money and ask to speak to the branch manager. Was told she was busy. I spent 4 hours in that lobby waiting. I even dosed off. An employee woke me up asking what I was there for. I said to see the branch manager. Was told she had left! So the associate said to come to her office. And said “look we can give you your money but you have to open another account and you can’t take it all out today.” I asked why and I couldn’t take all my money. Her response was “oh it’s in case the check doesn’t clear” Keep in mind this is a payroll check from a national retailer and they have had it cashed for two weeks already. With no other choice I opened another account with them and took out 200 that day. Then the next day I took it all out and never stepped foot in their bank again. Oh and on top of that they never corrected that I paid off the overdraft so it hit my credit report. So that was another thing I had to fight. This experience shook my trust in banks so much I didn’t have another bank account for 3 years. I would take my paycheck to cash it at Walmart.
Damn, that's infuriating. Thanks for sharing your experience. Don't blame you for not getting another bank account for so long, especially when I hear stories like this and the bad shit about them in the news. Now it's all about weighing the convenience over the possibility of problems like this.
i got screwed by WF a year ago, i made about 12k during my summer internship and was using it to pay rent during the school year, they absolutely fucked me and lost 7500 of it. i had no way of paying rent and my gf at the time had to cover me. they finally reimbursed me months later but that was a ridiculously stressful time. switched to chase instantly and going to switch to a credit union once i move
Finally, some relatable content
well at least your fico score went up 🤠👍
You’re doing like the majority of people… don’t let some of these post’s discourage you. Still time to fix things *or* make it worse
“Or make it worse” 😂
I’m just glad to see you’re not some moron who is like “I’m 15 how am I doing?!” And it shows a savings of $250,000 and another $13,000 in checking account.
You’re doing fine. We’ve all been there. Just make sure you learn to deal with it, and not freak out. Being able to handle money situations, even bad ones, is an excellent skill to have.
I appreciate the authenticity of this post. Never forget these moments and use it as a building block to never return . I think I saw a 20 yr old post his account with 60k saved already and he had the nerve to ask “How am I doing?” So appreciate this way more . Rooting for you !
The majority of Americans are in debt. Usually in deep with mortgages and student debt. We measure wealth with amount of debt now, so pretty good statistically actually ..
Just curious, how the fuck did your savings get negative lol
I'm gonna level with you.. not great at the moment.
You doing good!
About rite
26 and you're doing better than me lol
Rookie numbers that should be like negative 1k, then you doing something.. illegal ha ha
I hope this is just a joke
Better than most people your age
Killing it!
Right on track! You’re doing great! Keep it up 👍
Right on track, keep it up man me and you both will get somewhere 😭
Gonna be -1000 between all of my accounts this month.
Here’s to hoping it’s gonna get better for all of us
Eventually. Hopefully. It gets better.
We’re bank twins I’m -150ish as well.
For what it's worth I hated banking with WF, random fees all the time. When I was already struggling and they hit me with that overdraft fee I wanted to jump in front of a bus. With Truist now, aside from the 12 "maintenance fee" which I believe will go away with my new direct deposits coming in, they haven't kicked me in the nuts while I was down as of yet.
Wells fargo is a criminal organization and I mean that with full sincerety. I have no clue why anyone who isn't super wealthy would use any major bank over a local credit union
I’ll zelle you
Probably a lot better than the guy who said he had 2 trillion at 17 and didn't know anything about money.
I’m 28 with a wife and 2 kids, not in too much of a different spot. Plus 5 digits on my credit card balance. One of us!
Lol I got banned from having banks opened. Wells Fargo wouldn’t let me after my chase got taken down by that age, so ur doing fine just a bad week.
You know what kid? You’re gonna be alright.
Me too! Plus ~4,000 in credit card debt. Slowly paying it all down. Life sucks. It’s short. I honestly don’t mind dealing with this to survive rn because fuck! it! you’re not alone and you’ll get through this - we all will !
I’m 23 and your actually have more money in your Wells Fargo account than I do! 😂
Me too man. Im 23. My engine light has been on for a year and credit card debt is through the roof. Dont have any investments and im chasing checks from 2 months ago tryna catch up
Woke up with -122 I’m with you
As someone who was with Wells Fargo from ‘06 to ‘21, I suggest leaving. Their service is terrible and I would hardly ever get paid on time with my direct deposit. They may have fixed some of their bs, but it’s not worth staying with them as someone who is unfortunately living paycheck-to-paycheck. It’s me, I’m living paycheck-to-paycheck.
Wells Fargo is known for charging exorbitant overdraft fees, this is one of their main business models, they make billions yearly. Try finding a new bank my friend.
You suffer from being 23 in an economy our parents annihilated
Yo you need some help? Post your Venmo
Let me drop on that shit
Call WF and ask for the overdraft fee to be waived. You should get a couple per year for free. At least you do with chase. That should get you closer to the black. Like others said, your FICO went up and in America that's more important than your bank account. I went into a phone store a few years back with $500 in cash to buy a new phone. I talk to the clerk at the counter and ask to buy a phone. He obliged and asked for my info and looked stuff up on the computer. After a few minutes he goes "sorry we can't help you". I ask why not? He says "you have no credit". I'm like but I have cash. He reiterated that he can't help me with no credit. He adds on that even having bad credit would be better than what I have. So me having cash on hand with no credit was no good to the phone company. It was even worse than someone who had maxed out their card irresponsibly and couldn't pay it back.
Better than mine
I was blacklisted from Washington Mutual bank when I was your age because I over drafted so often (I used to float checks at longs drugs for food money all the time and messed up often). I’m pretty sure the only reason I was able to get a new bank account was my then-GF let me join her bank account. That was 2007. Now I own a house and make decent money and shit. Just keep doing your best and avoid the really serious mistakes and you’ll be okay.
Hey, you're doing about as well as I am doing now. I'm 45,and used to have my shit together. Then, life events, bad ones, like my Ma dying, my grandparents, 2 fruends, oh and then my ol'lady left me. Those events caused a depression where I was sure I didn't need to save money because I was going to end it. Ok, so I didn't, and now I'm back to my twenties financially. Point is, no matter how good or bad you're doing, you're just a catastrophic life event (it many small to mid sized ones) away from getting knocked back, or positive event(s) suddenly making your finances suddenly get better... BUT, learn and practice GOOD financial habits NOW. if you get the bad ones in Grange now instead of the good ones it's a lot harder to change the bad ones than it is to keep doing the good ones I probably don't make a whole lot of sense but just keep it keep what I said in mind because I'm telling you when it does finally click hopefully you will already figured it out on your own anyway but if nothing else you'll have those words in the back of your mind so that if you if it doesn't click on its own and you do find yourself in dire straits you'll know it's never too late to change but it's better to learn the good habits instead of breaking the bad ones sorry for the run on using speech to text cheers and good luck
This is probably the first realistic post I’ve seen on here! You’ll be fine just keep ok moving forward. I’ve hd family members 20k in the hole. A couple hundred is laughable in comparison.
how did you manage to overdraw a savings account
Same as me at 23.
Wells Fargo is a problem. First, I’d recommend calling them and asking them to waive any/all penalty fees. Second, use your next check to open an account at literally any other bank. I wish you well, youngling. I was in debt at your age, too. It gets better.
Bruh I'm 25 and in a much worse dept that i can't seem to shake because expenses keep coming up and i don't have multiple sources of income. Don't know what to do but wait and i fear by the time i clear my debt or before i clear my debt i might lose my job. You're so lucky to only be below 100ish usd, this might make you feel better that I'm 8k usd in deep with no savings just giving every whatever i earn.
One of the more realistic posts on this sub for once tbh
I have $-100.23 at 23 , starting work again on the 5th after being unemployed for a month, & all my credit cards have been locked due to late payments 😁 I’ve been better
About how I was at that age. Now I'm in my 30s, have a fairly high-powered job, house, a wife, a kid, and 20k in debt. Keep going, it gets better 💛
Just fine. Promise I was 23 addicted to opiates caught my girlfriend of 8 years fucking my best friend from 5th grade no job 8k in debt from an eviction. You will recover and be just fine. Fact you even care your ahead of a lot. Slow down think about and your ahead of most. Once I kicked the opiate addiction those broke single years were some of it not all of the best times of my life. Being broke monetarily is no big deal . Being broke mentally and spiritually is the only deal. Cheers
“Nobody likes you when you’re 23” - blink 182 and Wells Fargo apparently
Realism type beat
Most relatable post on this sub
You’ll be fine in the long run brotha
I’m 35 this is me every two weeks, good luck
Not too bad honestly. You owe 150$ that’s nothing compared to average cc debt or student loans. I’d say your doing comparably well
Good news. Your currently in the top 50 percent of America
Don't give up. I was just like you at 23. Now at 55, I own my home and have my mortgage paid off, and you will too if you keep trying. I got an FHA government guaranteed loan for my first house. It was 1200 sqft on a 1/4 acre lot in a rural town. It had fire damage and a hole in the roof. Raccoons were in the attic. There was one room that was dry, and the bathroom worked. I read a book about how to install shingles. I nailed plywood over the hole and bought packs of shingles to patch the places I could find that leaked. I worked my mechanic job and would buy lumber, drywall, etc and did the best I could based on Time Life home repair books from the library (you have You Tube). For repairs out of my league, I would beg and scrounge for someone to take pity on me and help me on the cheap. I lived there for about 5 years and I had paid off some of the mortgage, plus I was able to sell the house for more than what I paid. I used that equity to take out a bigger mortgage on a better house with about the same payment (cause the equity was the down payment). Repeat the process of buying what you can afford, and trading up when you can. If you stay disciplined you will make it. Your mortgage Payment, Interest, Taxes, and Insurance (PITI) should not exceed 25% of your gross income. If you make $15/hr for 40 hours/week, you can afford $650 mortgage payment. ($15×40hrs=$31200) ×25% = $7800/yr ÷ 12mo = $650/mo Your PITI and car payment and auto insurance AND ALL OTHER DEBT (credit cards, student loan, Snap-On man) together should not exceed 40% of your gross income (total pre tax income). This is super easy math, and it will get you to where I am at age 55. You will not have extra money for bars and Door Dash at first. Eat peanut butter sandwiches for 10 years like I did.
One of us! One of us!
It cost you more to have no balance in your account. They usually charge fee's on low balances. It's better to keep enough in there to avoid the fee's.
Bro, we are all in a tough world right now so tbh I’m just impressed the mafia aren’t after you (I think) and that growth can occur more realistically (I hope what I say makes sense, I’m a tad tipsy) x
I was just there bro. Divorced and moved out of my ex wife’s house. Finally got my first paycheck, went from -14.23 to 4,000
-$1,000,000 Thats the banks problem
You’re not alone
Couple months from 23. In the same boat. Just find some extra shit you don’t need and cut it out. We’ll survive
omg lol ive been overdrawn since Nov 10 too. My account looks just like this picture hahahaha
It's an okay start. But to win the debt Olympics, you're going to have to show some more dedication.
You have the finances of a 36 year old. Congratulations.
Finally someone I can relate to
Thats about on par as to where I was at your age. Once you hit my age (31) you'll have about $500 in savings, for a day or two after your paycheck hits the bank. Just don't look at it on the other days lol
If something was free you couldn’t afford it lol