Need advice with financial future.

flee_market · 2018-07-18T22:44:35+00:00

First of all don't go fucking spending it. Throw it in a checking/savings account and sit on it while you think about what to do with it. Maybe don't do anything with it and make it your "emergency oh shit fund".

Always good to have one of those when life throws a curve ball at you. Oh shit, your car blew out a tire. Welp, good thing you saved up for that hmm?

I recommend going with a credit union rather than a large bank, large banks tend to shit on customers who don't have a lot of money - lots of fees and charges designed to bleed you dry so you'll leave. Credit unions treat you a lot better.

MaGeTOW · 2018-07-18T23:25:04+00:00

While in college, getting an internship should be your 1st priority.

Don't eat out, go out for drinks (and similar activities) at all. Cook your own meals. Resist the urge to eat out as a result of peer pressure.

If it seems overpriced, don't buy it. If it doesn't drastically increase your quality of life, then you probably don't need to buy it.

If you need something check the free section of Craigslist and websites similar to The Freecycle Network, then check for used stuff on eBay, OfferUp, Craigslist, etc, and finally if all else fails buy it at the cheapest retail price (rebates, coupons, Honey, EBates, etc).

As pretty much everyone else has said, save your money until you have # months of living expenses in the bank. Ally Bank has a good interest rate.

If you get a credit card always pay it off. Create a regular reminder on your calendar/smartphone so that you don't forget to pay it.

For phone plans I recommend US Mobile as the least expensive and Mint Mobile for an unlimited plan.

bonemonkey12 · 2018-07-18T22:25:01+00:00

Savings account. That way there isn't easy access, ie you have to go to the bank. I don't believe you are old enough to open an investment account. And it didn't sound like you wanted your mom on the account.

Most banks have some sort of high school savings account. You could also look into a CD, but again, not sure if you're mom would have to cosign the account.

Best bet would be some sort of fund investment so you could get a small return (and education on how investments work). I wish I started at 16.

Maybe r/personalfinance would be a better place to ask this. A lot of bitter folk on this sub. And I would think you'll get more educated opinions over there.

Jmho

Edit: I grew up in a similar household, DO NOT skip college for anyone if you can go for free. Also, nothing wrong with the trades as well. Stick with it, it does get better. Life is what you make it. Those stupid motivational speakers in school were correct, for the most part.

It's not fair most of the time, but work your ass off. You make your own path, and yes you will fail multiple times. We all have.

UmbrellalikeWetness · 2018-07-18T22:44:33+00:00

Books may not be free, that could be a big chunk right there. Start researching buying used books, and also for some courses the books are in the library... IF you get there first and check them out.

So would think housing and food would be your biggest trouble. Maybe get a job where lodging is included?? Some dive with a couch in the back? A college year isn't that long, I spent one in a rented place where my mattress was shoved into a closet because there wasn't enough space. (Like, when I was sleeping, I was in the closet up to my thighs.) So I'd start with " Look, I'm about $100,000 short of impressing anyone with where I live, so I might as well shoot for as close to free as possible."

dre702 · 2018-07-18T22:44:38+00:00

Make it a priority to save as much as you can. If you can manage to avoid debt (all debt, including financing cars, credit cards, etc.) you'll be getting ahead. You'll probably need that cash when you decide to move out, so don't go sticking it in mutual funds/stocks or anything. One possibility might be in an online bank since I think they'll give you the best interest rate around (savings account).

DangZagnut · 2018-07-18T22:23:51+00:00

[deleted]

constructionkc · 2018-07-19T03:12:20+00:00

For starters, you must earn money. Always have an income stream or multiple income streams. Get in the habit of tracking your spending/using a budget. Mint.com is what I use to track my personal finances.

Save 3-6 months of cash in case of emergency. Keep cash in an high interest online savings account such as Ally Bank.

Learn the difference between wants and needs. Prioritize spending on needs.

Learn the difference between assets and liabilities. Assets put money in your pocket. Liabilities take money out of your pocket. Purchase assets with your excess earnings. Try and grow your net worth each week.

Never go into debt other than a mortgage. If you get credit cards, it is vital pay the balance in full every month. Always pay bills on time.

Make your own meals. It's cheaper and healthier for you.

Exercise and dedicate time to your hobbies. Get plenty of sleep. Work/Life balance brings happiness.

Be open to an apprenticeship/learning a trade. Trade workers often earn more than more than college graduates. Plus you will be working mostly with men.

If you're set on college, get a degree in a field that interests you. Make sure your field has plenty of career opportunities. Be sure and reach out to the career services department and do an internship... especially your junior and senior years.

Last but not least: Stay away from dating women. They will only try and extract your resources.

Title	Need advice with financial future.
Author	dre702
Upvotes	4
Comments	17
Date	July 18, 2018 10:17 PM UTC (8 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/9000bz/need_advice_with_financial_future/
Archive Link	https://theredarchive.com/r/MGTOW/need-advice-with-financial-future.523509 https://theredarchive.com/post/523509

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