Guide to saving money?

SilverGryphon · 2019-04-18T18:46:14+00:00

Blue chip stocks. Have a diverse portfolio and it works out most of the time. Just don't put in everything and learn to be patient, it can take years to get decent returns.

MGTOWch · 2019-04-18T18:46:33+00:00

Easy. cut spending

anongogogo · 2019-04-18T19:08:21+00:00

Look into minimalism

RunawayGrain · 2019-04-18T19:23:22+00:00

Build up at least a $1000 dollar emergency fund. Six months to a year would be better.

After you have that war chest built, start dumping money into some kind of IRA.

Once you have at least twenty grand in that, look into a three fund portfolio.

If you are going college or trade school avoid loans like the plague.

Be patient and avoid buying fast depreciating toys, like high end sports cars.

007MGTOW · 2019-04-18T18:47:57+00:00

I would suggest investing in US Treasury bonds and find a high-yield bond investment over the long term. The stock market is slowing down dramatically (thank God wedding stores are closing too) and the housing market with tank in 2020. So low-risk high yield investments in today's economy are the best way to go. Rent where you can and live modestly, save more than you spend and you'll be fine. Cut out excessive spending where you can, and never pay a thot.

801735 · 2019-04-18T18:56:00+00:00

Don't spend it.

Uttfttufftcytfcctf · 2019-04-18T19:16:08+00:00

Invest as much as you spend. Every time you have to spend $100 on anything, first invest $100. Don’t be afraid to lose some investing in risky things like crypto, but be diversified and invest in safe things too. Be balanced. Also look for cash flow. The tax you pay on dividends is less than the tax you pay on money you worked for. Build assets that you get to own, try to find ways to be your own boss instead of making someone else rich. Never borrow money, not even for a house, don’t do it. Never go into debt for anything.

SomeGhostingGuy · 2019-04-18T19:33:35+00:00

Good tools, IF you have some manual talent.

What you can do yourself is something you do not have to pay somebody for to do it and the savings on work in most times pay for the necessary tools the first time.

I started out with a half complete Gedore wrench box, pretty much all my Dad had and even that he must have stolen somewhere because he never had money for anything else than booze.

Today my workshop is very well equipped.

Hugeknight · 2019-04-18T20:58:46+00:00

Learn to cook.

DWShimoda · 2019-04-19T03:53:04+00:00

Guide to saving money?

Most people here are talking about "investing"... which is good, but really doesn't answer your actual question, which was how to SAVE more (which really translates into "How do I SPEND LESS money").

Much depends on what you are currently/regularly spending money on. And the best way to know THAT is to start keeping track of it... all of it. Track it and "categorize" it.

There are a variety of tools (and apps, etc) to do that -- some more sophisticated than others (funky graphing tools etc)-- none of which really matters (you CAN use something as simple as a generic spreadsheet); what ACTUALLY matters is that you diligently record EVERY expenditure across a full month or two (or even three+ months... the ideal is to turn it into a sort of "daily habit" that you keep up long term) i.e. at the end of the day, you record that day's spending, and you PROPERLY categorize it.

What I mean is that you tag things correctly: putting some McDonald's or other fast food or even snack food (soda, candy bar, etc) purchase into a generic category of "food" -- especially if you also lump various "grocery store" purchases into that category too -- is NOT going to be helpful. Much better is to put the fast food into a "Fast Food" category, to put various candy-bar/soda and other things into an "Impulse/Junk Food" category (and of course groceries go into a "At Home/Good-Food" category).

That way at the end of the month (or X months) you can compare & contrast those categories. Did you spend as much or more on "Impulse/Junk Food" than you did on "At Home/Good Food"? If so then you can probably save a LOT of money by either cutting-back or ENDING the "impulse" purchase of such... OR alternately by purchasing such "in bulk" (12 pack of soda instead of soda from machines). Likewise with "Fast Food"... you'll be able to see how much of your money is being "squandered" on that; versus eating/cooking at home. (To wit: what most people pay for a single shitty "burger & fries & a coke" COULD have bought them enough food for multiple really GOOD home cooked meals {we're talking decent "steak & backed potato" meals, etc}).

hatch1ing · 2019-04-18T19:04:16+00:00

look into contributing into a roth ira or 401k

ctgjerts · 2019-04-18T19:13:32+00:00

You're going to hear a lot about buying stocks. I'd recommend reading "the little book that beats the market" by Joel Greenblatt. Amazon has it on kindle, audible and print. Then figure out for yourself what to invest in. Getting into the habit of saving at your age is a great start, keep it a habit and you'll be able to retire while still physically capable of doing things.

2019-04-18T21:25:45+00:00

Read the PDF titled "If You Can" by William Bernstein.

Title	Guide to saving money?
Author	VenomTentacles
Upvotes	15
Comments	19
Date	April 18, 2019 6:43 PM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/bep5c2/guide_to_saving_money/
Archive Link	https://theredarchive.com/r/MGTOW/guide-to-saving-money.480331 https://theredarchive.com/post/480331

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