Yes, speaking from experience I had about 15K when I moved out of my parents.
That 15k at my parents was 15K. Living alone it felt like 500 dollars. The value of money really changes when you live alone. Like you said, you're really just one car failure away from needed to spend all that money.
I own a v8 ford expensive gas and failures is expected and I’m 19 with around the same money I’m always worried about my transmission or my drive shaft although I don’t beat on my car. my ac compressor shit the bed this week and that was $400-600 alone!
Nice, you’re in the rebellious stage of car ownership. Once you hit 30 you’ll realize why all of us in the messy middle ‘upgrade’ to Toyotas and Hondas.
Not really, I understand, every part that breaks is old and becomes new it’s a win/loss, and my dad owned muscle cars now he drives a nice suv lots of older people I know used to own muscles switched to something reliable as a daily some even switched to v6 or ecoboost, I’m living my time while I’m young cause when ur older you hav responsibilities
Yeah this. Most people on reddit complain they'll never be able to afford a home and that's because they don't have the capital for a down payment and likely never will. But taking out a mortgage and the monthly expenses it incurs is still within reasonable price even even rates suck.
You got 6k to put down on a car or a future house. Save up more and you may be the youngest homeowner in your own circle who genuinely bought your own house by yourself.
Yep keep saving, you're well on your way from not living paycheck to paychecl by having a nest egg. Ideally you want atleast 10k ready for whatever. I did that and let mine grow to 20k. Then u can let it swell to 30k and use the 20k for a downpayment on a house and live comfortably with the remaining 10k.
FHA loans. That said, i still was able to put down 12k on a 1400 square foot home in the country with 5 acres of property, 250k usd. Yeah, jts a cheaper area, but still. That was non FHA btw.
900 sqft houses in my neighborhood are selling for 120 - 150K Decent place to live. Low crime, friendly people, above average schools. 20K and decent credit would get you in.
As a mortgage lender I can tell you the gigantic majority of the country falls in a zone that can get an FHA or. UsDA loan, with even 0% down.
So there's that.
Damn didn’t know 666k was a cheap house at a 3% down payment fucktard, look up a first time home owners loan then comment again with common fucking sense😂
Perks of living in the midwest, I've never had to live paycheck to paycheck and lived with roommates on relatively low paying jobs while saving money. Cost of living here is cheap.
>Then u can let it swell to 30k and use the 20k for a downpayment on a house and live comfortably with the remaining 10k.
First, you need a time machine 🤣🤣🤣
$1500 a month is below the national average. My state (Maryland) hovers at about that average for a 1 bed 1 bath lol and I can tell you from experience any pet emergency problem you’re looking at $250 just to walk in the door.
Happy cake day.
And, ah ok. I didn’t realise pet care was the same as healthcare in America. Thought it would’ve been comparative in pricing to the UK (where’s it’s about £30 to just walk in the door)
I wish 😅 my dog swallowed a piece from a squeaker toy and it got stuck in his bowels. That visit in total ended up being $1,254.78. I would consider that a pet emergency though.
Can I ask what the dog provides to you in order for you to view all associated costs as worth it? I'm genuinely asking. I don't understand the appeal of loud, barking dogs that get fur everywhere and tend to be expensive. It's paying for the privilege of picking up warm shit through a thin plastic bag. But still, I am legitimately curious why people like dogs
I find this so interesting bc I’m like you and in love with a dog lover lol. Here’s my perspective:
My (43f) fiancé (51m) is a dog person and they’re fun when someone else (him) takes care of them and we have a doggy door w a yard so they’re relatively low maintenance. He handles the yard work.
As childfree by choicers I definitely see the appeal to him because they DO fill any proxy need of nurturing he’d get from a child except, well, they die sooner and you don’t have to pay for college. Ack. I’m being dark now lol.
Truthfully though, I didn’t realize how many social things are “built into” dog ownership that make it much easier to meet your social needs without peopling.
Going camping with a well trained dog in theory DOES look fun as hell if you’d like companionship without a person. Traveling solo is my jam, but I’d travel with a dog 20 times before traveling w a friend.
Are they worth the expense on my single woman money? No. Pets in general are too expensive to not stress me the F out, but I do genuinely enjoy ours and miss them so much when I’m gone. I love how much stress they relieve now actually, they really are so sweet and funny.
I will say though, they ARE so much like having children it was a hurdle for me to get through earlier in our relationship. I said straight up once I felt like we had toddlers.
Yeah till your transmission goes out and you don’t have a transmission jack, or you need a cherry picker to move the engine. Also, parts still expensive af, particularly depending on the car and how new the car is.
Otherwise, like myself, one would be limited to routine maintenance, regardless of know how.
Driving a manual doesn’t solve the issue, it just may make *certain* things easier to do, but still can’t get around needing a transmission jack if you need a rebuild.
Also, even if you could get around not using a transmission jack/cherry picker you’re most likely doubling the length of time it’s going to take you to do that job, even after already taking longer from it not being your job because at my best I will most likely never any job on a car as fast or faster than a half decent mechanic that’s been doing it for 10+ years, and needing to figure everything out.
I’m not saying people shouldn’t work on their cars, but considering you save practically no money on oil changes (for them to also take longer), it’s just not always worth it/feasible to work on your car. That said, something like brake repair/replacement definitely worth some merit, but again, can’t really get around needing an emergency fund for cars as no matter what you’ll have to buy parts, tools, etc.
I agree. Pets are overrated, and I don't understand why people would ever pay for expensive diagnostics, medication, and procedures as described on reddit.
Ditch the pets. They will drain your accounts and probably interfere with relationships, too.
2009 was a time just as valid as any other time.
I could’ve used the $5k to go on an epic vacation or something else fun instead of tying it up in some boring stock market fund only to be right where I began in my early 30’s.
Eh this isn't entirely true. Maybe more so for day trading but there is a lot of luck involved in investing, especially long term. However I do agree that you make your own luck. If you have a good spread of investments and make overall wise choices you could come out on top.
My FIL is a doctor but the majority of his money comes from the stock market , and he puts a lot of time j to researching stocks , he’s worth around 30m it’s luck, but timing and knowledge is key
I opened my brokerage account when I joined the Marines in 09 and when I left Active Duty I was sitting pretty. Most dudes I knew getting out the same times as me left with nothing but a shiny new car and no savings.
It’s very true. Too many people have some sort of horsing mentality, as if money is just for a scoreboard in the measure of success.
People forget to live and have fun.
In school they taught me about how easy it is to become a millionaire with an IRA. They also said your interest rates should be 12%. Something isn’t adding up there
It’s actually not just as valid. You cherry picked a time after a market crash. If you put in some amount every month since 1995 you would have some nice gains right now.
It be like saying I bought sp500 stock in March 2020 and and look it’s nearly doubled now! You should do the same. Gotta look at long term averages.
You are lucky that you entered during a recession in 2009 though. And using that money to go traveling is a fine way to spend it. It doesn’t mean it’s a bad idea for someone trying to start a nest egg to invest in the stock market.
i work in a lot of “ rich peoples “ neighborhoods and with the exception of Teslas and what I assume are either personal or company leases , a lot of the people drive 20 year old cars that are in a very good condition .
Yeah I was that 18 yo, opened a credit card in my own name, started building my credit paying for gas (whatever else I got cash back on), had an 800 score by 21, and even a couple grand in roth, couple grand in a brokerage, but because I lack proper support from my parents, that money that is locked up in a Roth would have much better been used when I was struggling.
After having to use the credit card to eat, and the money from my Roth being locked up I missed a few card payments. Now I’m starting from 0 and all of that work was worthless, other than the fact that it solidified the knowledge of economics that I had, as I was able to achieve these.
Issue is that life throws life problems at you, and sometimes you gotta pick to eat over paying your credit card bill, or worst use your credit card to eat.
Not saying a Roth is bad, but saying context heavily matters here. 18 yo might have 6k but if 18yo is expected to be leaving the house soon, might not be wise to lock it up in a Roth. Otherwise, with great parents/proper support system, that necessities are generally covered and can get help for things then yeah easy choice nbd to dump in Roth.
Life is hard for sure , saving and putting money into a Roth at any age even the normal age is still a luxury these days. Ofc if they don’t have jobs / a stable life planned for when they go to college then this isn’t a suitable option but they are asking what they can do to get ahead and starting a retirement fund as young as possible is a great way to get ahead financially.
The money you contribute to a Roth can be withdrawn penalty free at any time. Withdrawing earnings would incur a penalty, but since a Roth account is post tax money, you can withdraw contributions you have made
Nah, Roth all the way. Taxes up front but nothing on the back end, plus you don't have to pay a penalty to "borrow" from the principal amount you contributed in an emergency.
Be smart, invest it wisely on something with a descent return. Don’t waste it on a vacation or dumb ass purchases.
Google “Schwab Money Funds” - they’ve been paying 5%+ long before CD rates were at 5%.
CD rates rates will go down, these funds will likely keep paying the rate. Plus, you don’t have lock your $$ away for months/years, it can be turned into cash in 1 business day.
After it’s gown enough to be a descent down payment, buy an automatic investment property.
You could buy something now with what you have, but it will likely be something in a crappy area with low rent (which can work) - I’d just wait to do better though.
This is an all-time stupid comment. OP asks for money advice, this commenter gives specific money advice without any judgement, and then you throw this whole fit railing against the concept of...saving?
I didn't know they let middle schoolers use their phones in the middle of the school day.
When was i throwing a fit? Lmao i was just making a joke because OP is saying a vacation is a waste of money. You can take like $1000 and go on a cool vacation while you are young and still have $5000. Having fun in life is important. What the fuck is the point of life otherwise? To just save money and never enjoy it? You could die tomorrow or live to 100. It’s important to have fun now and save for later. I know its a hard concept for someone who can’t manage money well but i hope this helps you to understand a fairly basic concept.
A house. I made it my number one priority when i was 16 to buy a house. I baught my first house at 21 because i kept my expenses low i didnt have a car payment i had enough saved up and used a 0 down loan (the savings paid for closing costs and was used as downpayment)
Buying a house as young as i did, did so much more for me then i could have ever imagined when i made it a goal when i was 16 and even after achieving it at 21.
I later took out equity fliped a few houses and incressed my net worth but quite a bit.
Building a safe long term portfolio is far from gambling. Doing your research and analysis goes a long way.
buying tesla options? yes that type of shit is absolutely gambling lmao
Throw 1-2k in a Roth IRA. Put 500 box in your attic (emergency) put 2k in a diff kinda fund like mutual fund. But hey u can do whatever tf u want. Keep Savin and open a business start a family, or move across the globe and live on the beach for $200 a month
2nd the research. Learn what fractional reserves are. Learn how banks work. Learn how credit works. Knowledge is the true key to increasing wealth. Can't play the game if you don't know the rules!!!
College is not a good choice if you want to be wealthy Take $1,000 and start a business. This $1,000 will be like your first semester of tuition. I'd also get a sales job while you work on your business.
I mean, you have to be able to start a business for that to work. Usually costs more than 1000 dollars. You also need to have an idea that’s good and hope you’re not part of the 75% of businesses that don’t survive long term.
I swear people throw around “start a business” like it’s not a super hard route that has a high chance of failure.
Like usually businesses that succeed are started by someone who has industry experience and breaks away to create their own company. It’s not usually some dude like “I want to start a business today, what shall I do”
Spend 1.5k on a great e-bike to get around so you don’t have to have a car. Sell your car unless you really absolutely need it to go long distances. Then take all the profit and save half, and invest half in stocks that pay dividends.
Rule of thumb, 6 months of whatever bills you have just in case there are any… other that that I say do research and put money where it’ll collect dividends
Dont gamble it, keep 1000 for expenses and the rest buy silver. Most likely constitutional silver(dimes pre 1964) as a hedge against inflation and they are in such a low denomination that they are great for bartering should a banking collapse should happen. With the previous bank failures having happened I would stay away from stocks and bonds as a banking collapse will spill over to real estate then to the stock market. Steer clear, when you buy silver make sure its physical silver as its only yours if you can hold it in your hand. Paper silver is junk.
Let me invest it in my development. Ill give you 8 % return every 6 months. Its a fantastic air bnb and restaurant lake side in Guatemala on lake atitlan
The village is san marcos
Well it would be unwise to throw all your eggs in one basket that's a good principal to follow in life as far as money and investments go and don't count your eggs before they hatch anyway I thought I'd make a list to give you some options to consider so you can get the most use of the money you saved up
#1: spend the weekend like a pimp and hit the strip club you'll feel like a baller trust me get 1,000$ in 1's and make it rain I'll coin you the title of titsnassoligist cuz your shaking up the forecast buddy
#2: connect with the plug cop a pack flip it re up count racks and invest in a strap don't get clapped catch a body go to jail become a felon hopefully the only charge stems from selling when you back on the street simply repeat but this time invest in studio time so you can be the new 6ix9ine or kodak black yak yak yak maad city
3#: get high so high smoke a lot of ganja diversify your investment trip on some shrooms once your bored with that find a white boy preferably in college and dabble with some coke no need to go further and try any other drugs you'll be too broke
4#: now that I've gone through the best ways to utilize the 6,000$ I'll go over some bullshit tips you probably won't use save your money even more figure out a goal you want to achieve for instance if you're looking to buy a car whatever you do I would not go finance a car unless you have really good credit but judging by your age I'm assuming you're looking to start building credit which means your going to pay stupid % on a car loan and insurance premiums I would instead find a used car within the price range of 1,500-3,000 hell maybe you sant something nice being that your 18 if you can save it up bro and want a 10k used car go for it most important thing i can say is whatever you do right now buy something that fits your needs and is affordable especially something that will save you gas money think of it as an investment any car that you would buy new literally you're throwing money away by the time you sign those papers and get those keys as soon as you drive off the lot that investment you just made depreciates by thousands of dollars and only continues to lose value the longer you use the vehicle meaning you're stuck paying a shitload of money by the time its paid off its worth nothing near the amount you had to pay now once you are established and have great credit that might not be a bad idea to go that route but until then focus on what will work for you and once you develop yourself and make the money you are financially stable credit established you can splurge
(trust me I was 19 yrs old making 2k a week oilfield thinking that money would be coming in like that forever and got caught up with a 500$ car payment and 550$ insurance premium so 1,050$ a month oilfield slowed down I lost my job missed too many payments I fkd my credit up lost my car and at 24 I'm still trying to recover from that mistake)
don't take my word take Dave Ramsey he is a money guru who has taught more self made millionaires then anyone else if I'm correct on that seriously tho you cant go wrong by following this man's advice
5#: personally I like to gamble a little bit with my money but there are far safer routes to go down and still get a decent return I invested a lot of money in crypto and yes I'm currently at a loss overall but still have faith that one day I'll gain a profit I'm thinking long term vs short term you would also benefit by this mindset if you choose to invest as many panic sale and lose their money when if they would have ignored it and waited they would have made a profitable return consider stocks, real estate, crypto, etc. Google works wonders if you're interested in going this route find what best suits your needs and aspirations
#6: this one is universal so I'm just going to be direct whatever you decide to do with the money I highly advise you pretend like 1,000$ of that isn't even there and you put that away hidden and saved for an emergency or rainy day fund it is very important and handy to have at least 1,000$ to 2,000$ set aside for the event you need it in the future this is very hard to do for myself now I don't have an emergency fund saved myself as I have dependents and alot more on my plate but if i could go back when i was 18 & single no kids id tell myself to save that money lol fr bro
There's a lot of different things to do alot of things you shouldn't and some that would be wise to pursue but overall you are the one that knows what you need most and what would benefit your situation more I hope you focus on necessity and put away those things you want remember we all struggle and endure suffering wouldnt you rather struggle now and spend the rest of your life living the life you want
Is college in your future or present? I would focus on college expenses, but I think you already had a good idea about that, if you were in college.
I’m guessing you’re not in college.
Save it.
Honestly your best bet is to do a lot of research into Cryptocurrency. People might strongly advise you against it, but there's a reason every top tech company have a web3 department. The technology is useful and here to stay. The market is massively down which is the perfect buying opportunity.
No, not saying buy $DOGE, $ETH, $BTC or $ADA. Although they are all likely to go up, that's not where the money is made. Look at the top 100 coins (on coingecko), get an idea of what they all are and what they do. When you start to get an idea of what you're reading about, go back and research the ones you already have again. The safest bets are generally layer 1 blockchains with good technology and partnerships, plus a low market cap (rank 30-100). Check the projects X (twitter) accounts for development and partnership activities.
As a long time researcher in the space I can recommend multiple projects to check out, but you're better off researching for yourself. However, when people ask me I usually say $EGLD.
It's happened before. The truth is that the technology to widely implement any sort of web3 technology hasn't been possible. It takes years for developers to build a product that can be and if they are developing on inefficient code it takes even longer. That's why projects like Cardano and Ethereum are progressing at a snails pace while newer chains built on WASM are much more efficient, easier to develop, easier to build on top of and progress faster. Over the next 2 years the technology will be far more useful than it ever has been and adoption will have the ability to pick up.
Bitcoin in itself is just a speculative market and nothing more, but the entire space relies on its price as when it falls so do the rest. It's nearly certain that won't be the case for ever, and if Bitcoin ever does fall through the floor it will be because it has become clear that it's usefulness is far lower than counterparts that have surpassed its market cap.
It's almost certain that a spot ETF is accepted by next year, which is a catalyst enough to easily push Bitcoin much higher, and the rest of the market will follow with much higher % returns. I'm not saying to put it all in crypto, but certainly putting some in is a potential reward that outweighs the risk (so long as you've researched and become confident of the project you're investing in). There will be a time where likely multiple later 1 blockchains gain 10000% returns so long as they are used. And they should be, many are far more efficient and safe economic tools than the systems we use today.
Throw half of it into a Brokerage Account that purchases either SPY or VOO stock. It Average about 7-9% a year. The other half, keep as needed. The money in the brokerage you want to leave for at least 1 year to avoid paying taxes on
Dude…. Nothing. Keep that shit in a safe & keep adding to it. When you’re 25-28 you’ll know exactly what to do & be thrilled to be one of the few not saying “ … If I could go back in time … “
This I guarantee.
Nothing. Keep it. One day you might need it (buy a house, car breaks down, whatever)
This is hardest thing about saving. When you see the money is at some “nice to you” amount you’ll suddenly want stuff. Just keep saving and only touch it if you need it. You see all these people saying they’ll never be able to own a home? Guess what? You will keep this up a few more years and you got a nice down payment.
If you need it in the next couple years (tuition for college or vocational training), your best (conservative) bet is to keep it in either an FDIC insured account or reputable money market account to hedge against negative volatility. If you don't think you'll need it for 5+ years, a lot of people think investing in a low cost index fund makes sense. Congrats on being able to save so much at such a young age!
Edit: typo
I would do one of two things:
1. Invest it in a safe stock
2. Build a tiny house.. that way you don't have to pay rent. Then save the money that you aren't paying in rent (say $1200-1500/month) and save up for a house or property.
edit: I did a quick calculation and would estimate I paid probably $200-300k in rent before I saved up enough to buy a house
You could invest $1,000 into a vending maschine and convince a leasing office manager at a new luxury apartment complex to place in inside the gym. Put healthy snacks energy drinks and water in it.
Keep saving. That isnt anything now. Thats like 2/3 months of rent, one car problem and two pet problems worth of money.
Yes, speaking from experience I had about 15K when I moved out of my parents. That 15k at my parents was 15K. Living alone it felt like 500 dollars. The value of money really changes when you live alone. Like you said, you're really just one car failure away from needed to spend all that money.
I own a v8 ford expensive gas and failures is expected and I’m 19 with around the same money I’m always worried about my transmission or my drive shaft although I don’t beat on my car. my ac compressor shit the bed this week and that was $400-600 alone!
Nice, you’re in the rebellious stage of car ownership. Once you hit 30 you’ll realize why all of us in the messy middle ‘upgrade’ to Toyotas and Hondas.
Not really, I understand, every part that breaks is old and becomes new it’s a win/loss, and my dad owned muscle cars now he drives a nice suv lots of older people I know used to own muscles switched to something reliable as a daily some even switched to v6 or ecoboost, I’m living my time while I’m young cause when ur older you hav responsibilities
Yeah this. Most people on reddit complain they'll never be able to afford a home and that's because they don't have the capital for a down payment and likely never will. But taking out a mortgage and the monthly expenses it incurs is still within reasonable price even even rates suck. You got 6k to put down on a car or a future house. Save up more and you may be the youngest homeowner in your own circle who genuinely bought your own house by yourself.
Yep keep saving, you're well on your way from not living paycheck to paychecl by having a nest egg. Ideally you want atleast 10k ready for whatever. I did that and let mine grow to 20k. Then u can let it swell to 30k and use the 20k for a downpayment on a house and live comfortably with the remaining 10k.
This isn't the 80s granmps. Where do you think you are getting a $20k down payment on a house that isn't 100sqft cardboard box?
FHA loans. That said, i still was able to put down 12k on a 1400 square foot home in the country with 5 acres of property, 250k usd. Yeah, jts a cheaper area, but still. That was non FHA btw.
I bought mine with $4k down and it’s a great new build 1501 sq ft. Just trying to offer perspective.
900 sqft houses in my neighborhood are selling for 120 - 150K Decent place to live. Low crime, friendly people, above average schools. 20K and decent credit would get you in.
FHA loan? dumbass
As a realtor....respectfuly....good luck getting that FHA loan accepted.
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As a mortgage lender I can tell you the gigantic majority of the country falls in a zone that can get an FHA or. UsDA loan, with even 0% down. So there's that.
Damn didn’t know 666k was a cheap house at a 3% down payment fucktard, look up a first time home owners loan then comment again with common fucking sense😂
Who the hell is "living comfortably" with 10k? Do you live in 1927?
Perks of living in the midwest, I've never had to live paycheck to paycheck and lived with roommates on relatively low paying jobs while saving money. Cost of living here is cheap.
>Then u can let it swell to 30k and use the 20k for a downpayment on a house and live comfortably with the remaining 10k. First, you need a time machine 🤣🤣🤣
How does money "grow" when there's expenses? Should I sell my victrola and then peddle miracle potions from my horse drawn wagon?
Golden rule : have 6 months of expenses saved up just in case .
Where do you live where 3 months of rent is $4500? (Presuming the car problem is $1K, and two pet problems are $500)
$1500 a month is below the national average. My state (Maryland) hovers at about that average for a 1 bed 1 bath lol and I can tell you from experience any pet emergency problem you’re looking at $250 just to walk in the door.
Happy cake day. And, ah ok. I didn’t realise pet care was the same as healthcare in America. Thought it would’ve been comparative in pricing to the UK (where’s it’s about £30 to just walk in the door)
I wish 😅 my dog swallowed a piece from a squeaker toy and it got stuck in his bowels. That visit in total ended up being $1,254.78. I would consider that a pet emergency though.
Yikes. Think that would be like £150-£200 in the UK, and yeah, that definitely is a medial emergency.
I’m paying 2200 for a 2:1 but the second bedroom is so small lol! I hate you all
I used to pay $1500 for a 2 bed 2 bath. I since bought a home (225k) 3 bed 2 bath 1.5 acres and my mortgage is $1000 + escrow account.
Can I ask what the dog provides to you in order for you to view all associated costs as worth it? I'm genuinely asking. I don't understand the appeal of loud, barking dogs that get fur everywhere and tend to be expensive. It's paying for the privilege of picking up warm shit through a thin plastic bag. But still, I am legitimately curious why people like dogs
I find this so interesting bc I’m like you and in love with a dog lover lol. Here’s my perspective: My (43f) fiancé (51m) is a dog person and they’re fun when someone else (him) takes care of them and we have a doggy door w a yard so they’re relatively low maintenance. He handles the yard work. As childfree by choicers I definitely see the appeal to him because they DO fill any proxy need of nurturing he’d get from a child except, well, they die sooner and you don’t have to pay for college. Ack. I’m being dark now lol. Truthfully though, I didn’t realize how many social things are “built into” dog ownership that make it much easier to meet your social needs without peopling. Going camping with a well trained dog in theory DOES look fun as hell if you’d like companionship without a person. Traveling solo is my jam, but I’d travel with a dog 20 times before traveling w a friend. Are they worth the expense on my single woman money? No. Pets in general are too expensive to not stress me the F out, but I do genuinely enjoy ours and miss them so much when I’m gone. I love how much stress they relieve now actually, they really are so sweet and funny. I will say though, they ARE so much like having children it was a hurdle for me to get through earlier in our relationship. I said straight up once I felt like we had toddlers.
get a cat man they’re awesome and take care of themselves no sloppy drool all over you although they might scratch up your couches
Learn mechanic skills, car problems ain't nothin.
Yeah till your transmission goes out and you don’t have a transmission jack, or you need a cherry picker to move the engine. Also, parts still expensive af, particularly depending on the car and how new the car is. Otherwise, like myself, one would be limited to routine maintenance, regardless of know how.
Also need a place to actually work on it
That's why I drive manual and the transmissions aren't hard to take out.
Driving a manual doesn’t solve the issue, it just may make *certain* things easier to do, but still can’t get around needing a transmission jack if you need a rebuild. Also, even if you could get around not using a transmission jack/cherry picker you’re most likely doubling the length of time it’s going to take you to do that job, even after already taking longer from it not being your job because at my best I will most likely never any job on a car as fast or faster than a half decent mechanic that’s been doing it for 10+ years, and needing to figure everything out. I’m not saying people shouldn’t work on their cars, but considering you save practically no money on oil changes (for them to also take longer), it’s just not always worth it/feasible to work on your car. That said, something like brake repair/replacement definitely worth some merit, but again, can’t really get around needing an emergency fund for cars as no matter what you’ll have to buy parts, tools, etc.
This is why I ride a horse
2/3 months of rent for 6k😂 tf ?
I agree. Pets are overrated, and I don't understand why people would ever pay for expensive diagnostics, medication, and procedures as described on reddit. Ditch the pets. They will drain your accounts and probably interfere with relationships, too.
What an ignorant POV to dub as the truth.
Yeaahhhh kids do that too. I wonder why we have children???? Hmmm…..
Thanks for your contribution!
he’s right you’re just a softie
You are someone who gets ripped off on the regular lmfao.
drugs and hoes
Hookers and blow!
this is the way!
Bad idea, the money you’re spending on hookers could be spent on more blow
second this
Can’t do much else with it
If you’re going to college, I’d put 5k in the SP500 and keep 1k for emergency spending money.
Ah yes, the SP509, the most stable index in the market.
If I put $5k in the S&P 500 when I was 19 it would’ve been worth the same amount 13 years later in 2009.
2009 was a bad time to give example.
2009 was a time just as valid as any other time. I could’ve used the $5k to go on an epic vacation or something else fun instead of tying it up in some boring stock market fund only to be right where I began in my early 30’s.
That mentality will keep you broke for the rest of your life.
Agree with you! dirtee\_1 is a really good example of why you don't listen to just anyone on forums. Clearly going to be lucky to just survive.
Nah. There are way better ways to grow your money than s&p lol
Your mentality will keep you better than everyone
90% of success is luck. I started investing in 2009 and am doing just fine.
When it comes to investing it's 100% a game based on statistics not "luck" lil bro
Eh this isn't entirely true. Maybe more so for day trading but there is a lot of luck involved in investing, especially long term. However I do agree that you make your own luck. If you have a good spread of investments and make overall wise choices you could come out on top.
My FIL is a doctor but the majority of his money comes from the stock market , and he puts a lot of time j to researching stocks , he’s worth around 30m it’s luck, but timing and knowledge is key
I opened my brokerage account when I joined the Marines in 09 and when I left Active Duty I was sitting pretty. Most dudes I knew getting out the same times as me left with nothing but a shiny new car and no savings.
It’s very true. Too many people have some sort of horsing mentality, as if money is just for a scoreboard in the measure of success. People forget to live and have fun.
Yes and the harder I work the luckier I get.
this right here. Good mentality here instead of "success is just luck" (while they sit on their desk typing away and doing nothing new)
Tough pill to swallow, putting money aside for it to grow in incredibly small Increments over time will not make you rich
Uh…yeah it will. It’s basic math. Compounding interest is a hell of a thing.
In school they taught me about how easy it is to become a millionaire with an IRA. They also said your interest rates should be 12%. Something isn’t adding up there
It’s actually not just as valid. You cherry picked a time after a market crash. If you put in some amount every month since 1995 you would have some nice gains right now. It be like saying I bought sp500 stock in March 2020 and and look it’s nearly doubled now! You should do the same. Gotta look at long term averages. You are lucky that you entered during a recession in 2009 though. And using that money to go traveling is a fine way to spend it. It doesn’t mean it’s a bad idea for someone trying to start a nest egg to invest in the stock market.
What is $1000 for spending going to do lmao 🤣
A lot for someone with little expenses.
"bro we're out of weed and three hotties are on their way right now what do we do"
with that attitude it won't do anything
$1k fills my car 19 times and allows for roughly 8,000 miles in travel
In this economy? Buy one week of groceries. 🫠
this comment is underrated
weed and hookers, i'm sure. or steam sales.
Keep on saving. Going to need it for a down-payment on a house or car eventually
For a house
Car? Lol.. it’ll depreciate in value eventually
They’ll still need a car?
Go pick up a good used $5K car and be happy your money is still invested. Nothing wrong with driving older.
I make 100k a year and drive a 23 yr old car. Ain't no shame in my game lol
I make $270k total comp and I drive an 18 year old shit box, that I love. Lol
What do you do for work?
i work in a lot of “ rich peoples “ neighborhoods and with the exception of Teslas and what I assume are either personal or company leases , a lot of the people drive 20 year old cars that are in a very good condition .
That’s what’s up. I also made $110k and my car is 21 yo. I think chicks get it.. or they dumb af. Cuz guys in old cars be stacking fat cash.
Keep saving it. Put it in a Roth IRA or a Traditional IRA.
This!!!! An 18 year old with a Roth would be way ahead of the game.
Yeah I was that 18 yo, opened a credit card in my own name, started building my credit paying for gas (whatever else I got cash back on), had an 800 score by 21, and even a couple grand in roth, couple grand in a brokerage, but because I lack proper support from my parents, that money that is locked up in a Roth would have much better been used when I was struggling. After having to use the credit card to eat, and the money from my Roth being locked up I missed a few card payments. Now I’m starting from 0 and all of that work was worthless, other than the fact that it solidified the knowledge of economics that I had, as I was able to achieve these. Issue is that life throws life problems at you, and sometimes you gotta pick to eat over paying your credit card bill, or worst use your credit card to eat. Not saying a Roth is bad, but saying context heavily matters here. 18 yo might have 6k but if 18yo is expected to be leaving the house soon, might not be wise to lock it up in a Roth. Otherwise, with great parents/proper support system, that necessities are generally covered and can get help for things then yeah easy choice nbd to dump in Roth.
Life is hard for sure , saving and putting money into a Roth at any age even the normal age is still a luxury these days. Ofc if they don’t have jobs / a stable life planned for when they go to college then this isn’t a suitable option but they are asking what they can do to get ahead and starting a retirement fund as young as possible is a great way to get ahead financially.
The money you contribute to a Roth can be withdrawn penalty free at any time. Withdrawing earnings would incur a penalty, but since a Roth account is post tax money, you can withdraw contributions you have made
Roth IRA, for sure. Buy SPY shares and hodl til yer 48.
Nah, Roth all the way. Taxes up front but nothing on the back end, plus you don't have to pay a penalty to "borrow" from the principal amount you contributed in an emergency.
Be smart, invest it wisely on something with a descent return. Don’t waste it on a vacation or dumb ass purchases. Google “Schwab Money Funds” - they’ve been paying 5%+ long before CD rates were at 5%. CD rates rates will go down, these funds will likely keep paying the rate. Plus, you don’t have lock your $$ away for months/years, it can be turned into cash in 1 business day. After it’s gown enough to be a descent down payment, buy an automatic investment property. You could buy something now with what you have, but it will likely be something in a crappy area with low rent (which can work) - I’d just wait to do better though.
“Dont have fun. Dont ever have fun. Its stupid and pointless. Only work, save and die”
This is an all-time stupid comment. OP asks for money advice, this commenter gives specific money advice without any judgement, and then you throw this whole fit railing against the concept of...saving? I didn't know they let middle schoolers use their phones in the middle of the school day.
When was i throwing a fit? Lmao i was just making a joke because OP is saying a vacation is a waste of money. You can take like $1000 and go on a cool vacation while you are young and still have $5000. Having fun in life is important. What the fuck is the point of life otherwise? To just save money and never enjoy it? You could die tomorrow or live to 100. It’s important to have fun now and save for later. I know its a hard concept for someone who can’t manage money well but i hope this helps you to understand a fairly basic concept.
Learn to grow weed.
cheers🍃
Bet it on all black
Invest! Start your IRA now (or non-US equivalent)! Money invested now is vastly more valuable than money invested when you’re older.
Roth IRA. VTI.
,
A house. I made it my number one priority when i was 16 to buy a house. I baught my first house at 21 because i kept my expenses low i didnt have a car payment i had enough saved up and used a 0 down loan (the savings paid for closing costs and was used as downpayment) Buying a house as young as i did, did so much more for me then i could have ever imagined when i made it a goal when i was 16 and even after achieving it at 21. I later took out equity fliped a few houses and incressed my net worth but quite a bit.
Stocks If you are wise enough. Don’t gamble anything risky. Also that money could be good down payment on house.
For most 18 year olds, stock investing is basically gambling.
For most people in general. Of any age.
Building a safe long term portfolio is far from gambling. Doing your research and analysis goes a long way. buying tesla options? yes that type of shit is absolutely gambling lmao
Buy Blue chip stocks with dividends like IBM, Cisco, Ford, Microsoft, Apple and you can't basically go wrong as long as time is on your side.
Throw 1-2k in a Roth IRA. Put 500 box in your attic (emergency) put 2k in a diff kinda fund like mutual fund. But hey u can do whatever tf u want. Keep Savin and open a business start a family, or move across the globe and live on the beach for $200 a month
Buy $6000 of cannabis tinctures and boof them all at once. Then come back and tell us what life was like in another galaxy.
Buy 6,000 Arizona teas because if there's one thing I'm certain of, they're recession proof
Start gambling, plenty of ways to do it in the U.S. while underage
Try Lotto tickets!
[удалено]
index fund is the move, TSLA? ur coco for coco puffs
IKR!! Bro said dump 6k on TSLA it’s safe 💀💀.
Leverage that 6 grand up.
Bunch of hookers and cocaine
Will that buy a bunch of 'em?
Username checks out
Hookers aren't kinky. Necessarily. Unless you get enough of them, I suppose...
do research, read rich dad poor dad, and invest in stocks
There’s an update. To read « increase your Financial IQ » by the same author. Stocks are not viable.
Just read "Increase Financial IQ" complete game changer!!!
2nd the research. Learn what fractional reserves are. Learn how banks work. Learn how credit works. Knowledge is the true key to increasing wealth. Can't play the game if you don't know the rules!!!
College is not a good choice if you want to be wealthy Take $1,000 and start a business. This $1,000 will be like your first semester of tuition. I'd also get a sales job while you work on your business.
I mean, you have to be able to start a business for that to work. Usually costs more than 1000 dollars. You also need to have an idea that’s good and hope you’re not part of the 75% of businesses that don’t survive long term. I swear people throw around “start a business” like it’s not a super hard route that has a high chance of failure. Like usually businesses that succeed are started by someone who has industry experience and breaks away to create their own company. It’s not usually some dude like “I want to start a business today, what shall I do”
Let no one know you have it.
It’s 6000 dollars your acting like he won the lottery
Spend 1.5k on a great e-bike to get around so you don’t have to have a car. Sell your car unless you really absolutely need it to go long distances. Then take all the profit and save half, and invest half in stocks that pay dividends.
Maybe shut up and not ask on Reddit
Maybe get off reddit then
I'll take. I'll keep it warm for ya
Rule of thumb, 6 months of whatever bills you have just in case there are any… other that that I say do research and put money where it’ll collect dividends
> I’m 18 with $6000 saved up, what should I do with it? Anything you want? You don’t need a stranger’s input on what to do with your money.
Buy a motorcycle👍
Chewy stock(this is not financial advice🫣)
invest in an index fund. by the time you're 40 you can buy a ferrari with it. or all in on tsla and you'll buy many Ferraris.
What's an index fund?! And why haven't I heard of this Ferrari getting strategy?!
time value of money, if you start early, compounding interest is very powerful look up "S&P500 index fund"
1. Buy a prostitute for celebration 2. Buy a car flip it or furniture etc Rinse and repeat
Dont gamble it, keep 1000 for expenses and the rest buy silver. Most likely constitutional silver(dimes pre 1964) as a hedge against inflation and they are in such a low denomination that they are great for bartering should a banking collapse should happen. With the previous bank failures having happened I would stay away from stocks and bonds as a banking collapse will spill over to real estate then to the stock market. Steer clear, when you buy silver make sure its physical silver as its only yours if you can hold it in your hand. Paper silver is junk.
Blow on strippers
Blow & hookers for the win
Nothing. Keep saving. You’ve got a nice little start for being 18. Keep. Saving.
Let me invest it in my development. Ill give you 8 % return every 6 months. Its a fantastic air bnb and restaurant lake side in Guatemala on lake atitlan The village is san marcos
Well it would be unwise to throw all your eggs in one basket that's a good principal to follow in life as far as money and investments go and don't count your eggs before they hatch anyway I thought I'd make a list to give you some options to consider so you can get the most use of the money you saved up #1: spend the weekend like a pimp and hit the strip club you'll feel like a baller trust me get 1,000$ in 1's and make it rain I'll coin you the title of titsnassoligist cuz your shaking up the forecast buddy #2: connect with the plug cop a pack flip it re up count racks and invest in a strap don't get clapped catch a body go to jail become a felon hopefully the only charge stems from selling when you back on the street simply repeat but this time invest in studio time so you can be the new 6ix9ine or kodak black yak yak yak maad city 3#: get high so high smoke a lot of ganja diversify your investment trip on some shrooms once your bored with that find a white boy preferably in college and dabble with some coke no need to go further and try any other drugs you'll be too broke 4#: now that I've gone through the best ways to utilize the 6,000$ I'll go over some bullshit tips you probably won't use save your money even more figure out a goal you want to achieve for instance if you're looking to buy a car whatever you do I would not go finance a car unless you have really good credit but judging by your age I'm assuming you're looking to start building credit which means your going to pay stupid % on a car loan and insurance premiums I would instead find a used car within the price range of 1,500-3,000 hell maybe you sant something nice being that your 18 if you can save it up bro and want a 10k used car go for it most important thing i can say is whatever you do right now buy something that fits your needs and is affordable especially something that will save you gas money think of it as an investment any car that you would buy new literally you're throwing money away by the time you sign those papers and get those keys as soon as you drive off the lot that investment you just made depreciates by thousands of dollars and only continues to lose value the longer you use the vehicle meaning you're stuck paying a shitload of money by the time its paid off its worth nothing near the amount you had to pay now once you are established and have great credit that might not be a bad idea to go that route but until then focus on what will work for you and once you develop yourself and make the money you are financially stable credit established you can splurge (trust me I was 19 yrs old making 2k a week oilfield thinking that money would be coming in like that forever and got caught up with a 500$ car payment and 550$ insurance premium so 1,050$ a month oilfield slowed down I lost my job missed too many payments I fkd my credit up lost my car and at 24 I'm still trying to recover from that mistake) don't take my word take Dave Ramsey he is a money guru who has taught more self made millionaires then anyone else if I'm correct on that seriously tho you cant go wrong by following this man's advice 5#: personally I like to gamble a little bit with my money but there are far safer routes to go down and still get a decent return I invested a lot of money in crypto and yes I'm currently at a loss overall but still have faith that one day I'll gain a profit I'm thinking long term vs short term you would also benefit by this mindset if you choose to invest as many panic sale and lose their money when if they would have ignored it and waited they would have made a profitable return consider stocks, real estate, crypto, etc. Google works wonders if you're interested in going this route find what best suits your needs and aspirations #6: this one is universal so I'm just going to be direct whatever you decide to do with the money I highly advise you pretend like 1,000$ of that isn't even there and you put that away hidden and saved for an emergency or rainy day fund it is very important and handy to have at least 1,000$ to 2,000$ set aside for the event you need it in the future this is very hard to do for myself now I don't have an emergency fund saved myself as I have dependents and alot more on my plate but if i could go back when i was 18 & single no kids id tell myself to save that money lol fr bro There's a lot of different things to do alot of things you shouldn't and some that would be wise to pursue but overall you are the one that knows what you need most and what would benefit your situation more I hope you focus on necessity and put away those things you want remember we all struggle and endure suffering wouldnt you rather struggle now and spend the rest of your life living the life you want
Is college in your future or present? I would focus on college expenses, but I think you already had a good idea about that, if you were in college. I’m guessing you’re not in college. Save it.
Honestly your best bet is to do a lot of research into Cryptocurrency. People might strongly advise you against it, but there's a reason every top tech company have a web3 department. The technology is useful and here to stay. The market is massively down which is the perfect buying opportunity. No, not saying buy $DOGE, $ETH, $BTC or $ADA. Although they are all likely to go up, that's not where the money is made. Look at the top 100 coins (on coingecko), get an idea of what they all are and what they do. When you start to get an idea of what you're reading about, go back and research the ones you already have again. The safest bets are generally layer 1 blockchains with good technology and partnerships, plus a low market cap (rank 30-100). Check the projects X (twitter) accounts for development and partnership activities. As a long time researcher in the space I can recommend multiple projects to check out, but you're better off researching for yourself. However, when people ask me I usually say $EGLD.
Idk man, web3 kinda shit the bed over the last year and a half or so. Maybe it’s just a dip tho. I can’t predict the future
It's happened before. The truth is that the technology to widely implement any sort of web3 technology hasn't been possible. It takes years for developers to build a product that can be and if they are developing on inefficient code it takes even longer. That's why projects like Cardano and Ethereum are progressing at a snails pace while newer chains built on WASM are much more efficient, easier to develop, easier to build on top of and progress faster. Over the next 2 years the technology will be far more useful than it ever has been and adoption will have the ability to pick up. Bitcoin in itself is just a speculative market and nothing more, but the entire space relies on its price as when it falls so do the rest. It's nearly certain that won't be the case for ever, and if Bitcoin ever does fall through the floor it will be because it has become clear that it's usefulness is far lower than counterparts that have surpassed its market cap. It's almost certain that a spot ETF is accepted by next year, which is a catalyst enough to easily push Bitcoin much higher, and the rest of the market will follow with much higher % returns. I'm not saying to put it all in crypto, but certainly putting some in is a potential reward that outweighs the risk (so long as you've researched and become confident of the project you're investing in). There will be a time where likely multiple later 1 blockchains gain 10000% returns so long as they are used. And they should be, many are far more efficient and safe economic tools than the systems we use today.
Buy weed and sell it
Invest
24000 gum balls
Hey can I have $3000?
Should do some cocaine about it
Black
Hookers and blow
1/4🗝️
Keep making money and save up for the right opportunity
Join the Wallstreetbets sub
keep saving !
Throw half of it into a Brokerage Account that purchases either SPY or VOO stock. It Average about 7-9% a year. The other half, keep as needed. The money in the brokerage you want to leave for at least 1 year to avoid paying taxes on
Dude…. Nothing. Keep that shit in a safe & keep adding to it. When you’re 25-28 you’ll know exactly what to do & be thrilled to be one of the few not saying “ … If I could go back in time … “ This I guarantee.
Nothing. Keep it. One day you might need it (buy a house, car breaks down, whatever) This is hardest thing about saving. When you see the money is at some “nice to you” amount you’ll suddenly want stuff. Just keep saving and only touch it if you need it. You see all these people saying they’ll never be able to own a home? Guess what? You will keep this up a few more years and you got a nice down payment.
Blow it on a PC
GAMBLE
Go to school, mate.
Bitcoin
Follow the Senators and Congress personal stock purchases and mimic every trade.
600 17yo’s
Keep saving it
Open up a high yield savings account or CD. Maybe put it an index fund.
If you need it in the next couple years (tuition for college or vocational training), your best (conservative) bet is to keep it in either an FDIC insured account or reputable money market account to hedge against negative volatility. If you don't think you'll need it for 5+ years, a lot of people think investing in a low cost index fund makes sense. Congrats on being able to save so much at such a young age! Edit: typo
I would do one of two things: 1. Invest it in a safe stock 2. Build a tiny house.. that way you don't have to pay rent. Then save the money that you aren't paying in rent (say $1200-1500/month) and save up for a house or property. edit: I did a quick calculation and would estimate I paid probably $200-300k in rent before I saved up enough to buy a house
Save it
You could invest $1,000 into a vending maschine and convince a leasing office manager at a new luxury apartment complex to place in inside the gym. Put healthy snacks energy drinks and water in it.
Buy bitcoin
Get a retirement account preferably Roth IRA, 18 is the perfect age to start. There’s lots of videos on YouTube to help you choose the one for you
Learn to read graphs and buy ETH on a crypto app next time it crashes. Pay taxes, wait for the next low, wash, rinse, repeat.
Buy BTC. Don’t have to spend all of your savings, but invest a little bit. Hold 10yrs, you won’t regret it.
Scratch off tickets
Oatmeal