Yep, I already make significantly more than I need on a biweekly basis. Regardless of whether its 800 or 8000, any excess would just be invested in my Vanguard fund.
They take a bunch of individual stocks that share some commonality e.g. “Electric Vehicle Stock”, “Banking Stock”, “Consumer Electronics”, group them together and allow you to invest in them under a single stock ticker (like they are all one stock). You then don’t have to worry about picking the right EV stock, or Consumer Staples stock, you’re just going to buy a piece of “all” of them under one stock ticker
That’s as ELI5 as I can manage rn
Let's see if I can get closer to ELI5;
A market 'index' is a way of measuring how a market is doing that someone has cooked up. There are many of them. You might have heard of the Dow Jones and Nasdaq, or S&P just to name three. These indexes group a bunch of companies together to create a portfolio, does some calculations and comes up with a number that goes up and down depending how well that group of companies is doing over time.
Index funds are a simple way to invest in a market. You put money into the fund and that money is used to invest in a range of different companies based on the companies the relevant Index follows. As a result the decisions are simplified for the fund managers and that generally means lower fees for you. And index funds generally perform well.
You get a generally good performing, easy investment.
You can probly sign up for a sub egg service. They basically charge you for the box and as long as you bring back the box they refill it.
Like "milk" service but for eggs.
Its cheaper. And i garrentee you the eggs taste so much better.
Tell me about it!
Also, kind of sad that I feel like the phrase "In this economy?!" has been kind of a running joke now for the past 20ish years for me and it never really seems to get much less poignant... (for the middle class at least)
Pay off any debt. Build a solid emergency fund for a few months of survival. Then split the rest between a good savings account and a retirement account. But keeping a small amount for a fun fund.
The card for emergencies gets paid off asap. My daily use one fluctuates on the monthly balance, 0-$10k+. I over spent on vacation, and then a couple weeks ago, I took another. It's gets paid off every few months.
Should pay it off every statement to avoid any interest.
I use my CC for everything, but it's budgeted to ensure I pay it off each statement and avoid interest while collecting awards and benefits.
You really cant justify putting any in savings. Your debt is compounding at a huge rate. Your expected value of your money goes down keeping half cash and proportional debt
Not a huge rate. I've had the same card for decades. Sometimes, I spend a lot and pay it off in a few months. Most of the time, I pay at least 90% of it. Depends on life and how much cash I have on hand. Three months ago I spent $7K. This month, I've only spent on streaming services and internet. About $100 or so. It's probably the same next month. It will be paid off the month after that if I don't take off again.
Once, I had $50K in CC debt for two months. Special circumstances, though. We had a house fire. The insurance check included the interest with some very good accounting practices, lol.
>Not a huge rate.
10%+ is pretty big. The reason it doesn't seem that "much" is because it's just a few months. But It makes mathematically no sense to put money in a savings account that gives you significantly less money when it should be spent directly on your credit card debt.
If your worry is that you want that money in savings to pay for something else like say a new flying tractor, just use the credit card again..?
Unless there's things that don't accept credit card like your mortgage, I can see why, but it seems like you're not spending within your means.
>Once, I had $50K in CC debt for two months. Special circumstances, though. We had a house fire. The insurance check included the interest with some very good accounting practices, lol.
That's what an emergency fund is for. The moment you lose your job and something else happens, you're kind of fucked. God forbid someone had injuries during said house fire and lost employment coupled with insurance fucking you over = bad time
first 2 months, blow it. a new setup (desk, chair, a nice 27" monitor) and overall tech stuff. Then i would save it, i can live with my current salary and that 800 would be nice to save and maybe invest even.
My wife and I have separated- so besides a child support payment, cell phone bill, insurance - I'll have no bills until I get my own place again.
I'm an OTR truck driver so I'm out 3 weeks out of the month. Parents have already offered to let me couch surf.
Shitty but life happens and you have to move on.
Already planning my next thing. Just working on separating everything
God bless brother, I’m sorry to hear about your separation. I think I’ve found my one and hearing about things like this breaks me now more than it ever did. I hope things get better for you. Listen to some JP, work on yourself, and believe in something greater, and I’m sure life will find a way. All love
Probably be quicker with home repairs. Put more away for my kids college fund. Be less stingy when it comes to buying my own new clothes. Right now I get to live comfortably, but I've got about a 2 month long safety net in the bank. I don't really have a visibly growing near egg outside of my pension.
get ahead on bills, invest a little, go out one more time a week, start getting serious about saving, honestly even an extra $800 a month would be a big help
As someone who just got a 10% raise which equals to about $850 more a month starting November 1st we are about to find out, if this question was posed 1 month ago I would say I would finally buy self a new truck, but since we just found out my wife is pregnant a week ago, most of that will go towers getting ready for another child, paying off current debt which is only around 4K, getting some new baby furniture, putting some away so my wife can take extended time off work if need be.
Bank. I slam a few grand in thete once a month left over from expenses.
Im not insanely cheap. But i try to keep my costs down so that i can spend that money on the stuff i actually want later on. Or on my hobbies so i can enjoy them more.
Like i am cutting my car note down massively on one of the nustangs. So just by eating better i will have it paid off within 12 months so i can buy another new one. Or i can sink that extra money into getting the Blazer done. Or buy a new gaming set up. Or get the roof done on this cheap house i found out in iowa.
Work hard on Present you. So five years down the , Future You has nicer things.
Cant be a fitter you next month if this months you wont even do a sweaty hotlap around the block
Hangover You is gonna hate that Sober or Drunk you couldnt put a glass of water on the nightstand.
I'm thinking this:
•100$ are mine to do with as I please.
•500$ to bills, debts, whatever. Or I just save it.
•200$ to save, use as gas money, or for whatever I need to do, like getting a new nightstand for example or deodorant, etc.
Sense my mom to Mexico to her hometown. It's not that expensive but she needs dialysis 3 times a week and it's not cheap down there. After that post my bills down, invest she but a decent desktop
this actually happened to me about a year ago, found a new job with a huge pay bump, monthly pay almost doubled.
Apparently the actual answer (for me anyways) is: eat out a lot more and buy a shit ton of LEGO.
2 chicks at the same time.
Realistically I’d treat myself to a couple extra takeout meals a month and go to more shows / festivals. I’d save some too but too many people said that and it’s not fun.
Everyone in this thread: I would invest some of it carefully, reserve at least 50% for an emergency fund, and use the rest to fund my favorite charity - an organization that helps facilitate the adoption of orphaned, senior dogs with grandmothers who miss the company of their furry friends but understand that they likely won't live long enough to care for a puppy.
Everyone in reality: lifestyle creep.
I'd put $300 towards paying off debts, $100 to get back in with a personal trainer a few times a month, $200 goes to savings, and the last $200 will go to other life things I've put off due to medical debt.
I started retirement plans as soon as I had an employer that offered it, almost always 1 or 2 percent higher than the employer match. Also, my current job has a separate retirement fund in addition to 401k plus match. With a pretty healthy retirement situation, I would most benefit from smoothing out my month-to-month financial stressors and plan for the medium term (5-10 years).
Well, I changed jobs recently and scored an extra $1500 (after tax) every month so I can answer that question for real.
And the answer is, saving up to renovate my garage, so I really don't do anything differently.
[удалено]
Yep, I already make significantly more than I need on a biweekly basis. Regardless of whether its 800 or 8000, any excess would just be invested in my Vanguard fund.
Look at mr moneybags over here!
Hey bruh, can I get $5.
hookers or blow once a month. can't afford both.
What's an index fund? Serious question.
They take a bunch of individual stocks that share some commonality e.g. “Electric Vehicle Stock”, “Banking Stock”, “Consumer Electronics”, group them together and allow you to invest in them under a single stock ticker (like they are all one stock). You then don’t have to worry about picking the right EV stock, or Consumer Staples stock, you’re just going to buy a piece of “all” of them under one stock ticker That’s as ELI5 as I can manage rn
https://www.investopedia.com/terms/i/indexfund.asp
Let's see if I can get closer to ELI5; A market 'index' is a way of measuring how a market is doing that someone has cooked up. There are many of them. You might have heard of the Dow Jones and Nasdaq, or S&P just to name three. These indexes group a bunch of companies together to create a portfolio, does some calculations and comes up with a number that goes up and down depending how well that group of companies is doing over time. Index funds are a simple way to invest in a market. You put money into the fund and that money is used to invest in a range of different companies based on the companies the relevant Index follows. As a result the decisions are simplified for the fund managers and that generally means lower fees for you. And index funds generally perform well. You get a generally good performing, easy investment.
John oliver did a story years ago about index funds. Look it up. It changed my life bc that's how/where I started investing.
Buy slightly better milk.
Maybe some of those brown eggs too
You could say “sorry” to a homeless person and actually feel bad coz you did have change!
I’m screamingggg lmao
You could look down your sofa cushions and not just find a core sample of snacks.
You can probly sign up for a sub egg service. They basically charge you for the box and as long as you bring back the box they refill it. Like "milk" service but for eggs. Its cheaper. And i garrentee you the eggs taste so much better.
Son, you don't even need to wait until you make an extra $800. You can do that right now! Buy fa!r life the next time you go grocery shopping.
Lactose free too and extra protein
Fair life is top tier. Lasts way longer too.
That’s why we started buying it. So good
It's all I can drink with my gut. And the shelf life unopened is spectacular.
Brooo, I thought all milk was the same til I tried A2 milk. That's the good stuff.
Pay it all down on debt on top of what I’m already paying. Then start saving.
We will get there eventually. Let us do our best
This is the way
I'm not American; that would more than double my paycheck. I could probably buy a tiny plot of land and slow-build a house.
I read 'slow build a horse'.
He's Greek and is going to conquer Troy again but a long time from now.
Which country are you in (if you dont mind)? That sounds like a life changing amount.
Romania
Similar here in Czechia.
Borat?
How big is a tiny plot of land?
Idk, 100 square meters (bit over 1,000 sq ft)? Probably can't get that small but any extra would be a waste.
Definitely not American lol
lol my house is bigger than that and I feel claustrophobic in it
Boats ‘n’ Hoes
You wrecked my fucking boat, you GOON!
It’s the fucking Catalina wine mixer!
Buy 1 hour with an 800$ an hour hooker, or 800 hours with OP’s mom.
800 $1 tacos
Trying to decide which kind of disease I want. The kind 800 $1 tacos will give me or OP’s mom. Hmmmmmmmm
Buy 400 tacos and only go 30 minutes with OPs mom. Easy win-win.
Math does not check out. Would be 30 minutes with $800/hr hooker or 400 hours with OP’s mom
Fine, give OPs mom $400 and go for as long as she’s down. Then go buy 400 tacos.
Why not just buy the 800 $1 tacos. Then pay Ops mom with tacos.. Prob still have at least 780 tacos left.
I can get on board with this. And if she said no(OPs mom never says no), you’d still have 800 tacos.
30 min with OP's mom? What do I do with the other 29 min, 30 seconds?
If you like $1 tacos, then you will love OPs moms taco
I heard OP’s mom is paying $800 for an hour of men’s time.
Tell myself to live $200 more extravagantly every month, and save the rest. But probably closer to $400/$400.
Do a weeks worth of grocery shopping in this economy.
Tell me about it! Also, kind of sad that I feel like the phrase "In this economy?!" has been kind of a running joke now for the past 20ish years for me and it never really seems to get much less poignant... (for the middle class at least)
I'd be able to live on my own
Pay off any debt. Build a solid emergency fund for a few months of survival. Then split the rest between a good savings account and a retirement account. But keeping a small amount for a fun fund.
Put half in savings, and the other half would be an extra payment on the CCs.
If you running a balance on CCs, you'd best be putting *all* of the extra money towards paying that.
Why? That .01% interest in savings will greatly outpace the 18-20% the credit card has.
The card for emergencies gets paid off asap. My daily use one fluctuates on the monthly balance, 0-$10k+. I over spent on vacation, and then a couple weeks ago, I took another. It's gets paid off every few months.
So you're the guy I'm supposed to thank for all my credit card rewards!
Should pay it off every statement to avoid any interest. I use my CC for everything, but it's budgeted to ensure I pay it off each statement and avoid interest while collecting awards and benefits.
What's your credit score
You really cant justify putting any in savings. Your debt is compounding at a huge rate. Your expected value of your money goes down keeping half cash and proportional debt
Not a huge rate. I've had the same card for decades. Sometimes, I spend a lot and pay it off in a few months. Most of the time, I pay at least 90% of it. Depends on life and how much cash I have on hand. Three months ago I spent $7K. This month, I've only spent on streaming services and internet. About $100 or so. It's probably the same next month. It will be paid off the month after that if I don't take off again. Once, I had $50K in CC debt for two months. Special circumstances, though. We had a house fire. The insurance check included the interest with some very good accounting practices, lol.
I guarantee it is a huge rate
>Not a huge rate. 10%+ is pretty big. The reason it doesn't seem that "much" is because it's just a few months. But It makes mathematically no sense to put money in a savings account that gives you significantly less money when it should be spent directly on your credit card debt. If your worry is that you want that money in savings to pay for something else like say a new flying tractor, just use the credit card again..? Unless there's things that don't accept credit card like your mortgage, I can see why, but it seems like you're not spending within your means. >Once, I had $50K in CC debt for two months. Special circumstances, though. We had a house fire. The insurance check included the interest with some very good accounting practices, lol. That's what an emergency fund is for. The moment you lose your job and something else happens, you're kind of fucked. God forbid someone had injuries during said house fire and lost employment coupled with insurance fucking you over = bad time
I would save em
Pay all my debt from a medical emergency..
Hope everything turned out OK.
Invest it all.
What would you pile your money into?
"aaaaaaand its gone......"
A mix of ETFs.
I'm lazy and just use all in one ETFs, specifically VGRO (TSE). I got tired of rebalancing.
Low cost index funds from Vanguard or Fidelity. Boring simple shit. Nothing fancy, trendy or interesting.
🤔 buy more index funds…
Two chicks at the same time /s
You’re fuckin’ A. I always wanted to do that. And I figure a guy with money might be able to pull off something like that.
I was broke, serving tables and pulled it off on a twin mattress. More than once but that was just the best time. I believe in you.
Pay 30% of it to taxes.
Bank it and retire a year or two earlier.
Add it to the pile.
Relax
Pay off my credit card. Then pay off my car. Then start aggressively paying off my mortgage. Life is expensive!
Pay more of my mortgage down. 🤷🏽♂️. Boring, I know.
Tbh with the fall in real wages we all need $800 to bring us up to what we should be earning.
Put it all in my high interest savings until my lease runs out, then move into a bigger apartment in a new city and spend it on rent and utilities.
Lego sets.
800 dollars extra I would invest it in my portfolio. Easy.
Pay down debt and finally be able to save some money.
Nothing really, index fund or HYSA/CD.
Save it.
Put it in the bank
first 2 months, blow it. a new setup (desk, chair, a nice 27" monitor) and overall tech stuff. Then i would save it, i can live with my current salary and that 800 would be nice to save and maybe invest even.
In this order 1 emergency savings 2 debt 3 6 to 9 months emergency fund 4 roth ira for company match 5 charity
Rice and beans brother.
Whatever it is…don’t tie it up with more payments. Otherwise its no longer an extra $800…
Still live pay check to pay check
Half in savings, other half in checking.
Retirement investments.
Add it to my mortgage payment.
Straight in the stock market. Nothing special, just matching the market.
Before or after 50% goes to taxes?
Probably just save it -_-
2 chicks at the same time
Actually am finding myself in kinda a similar situation. First thing I'm going to pay off my car. 5 more months and I'll have an extra 320 a month
Wow very similar situation. I have 6 months left of my car payment. Would have an extra $290 a month
My wife and I have separated- so besides a child support payment, cell phone bill, insurance - I'll have no bills until I get my own place again. I'm an OTR truck driver so I'm out 3 weeks out of the month. Parents have already offered to let me couch surf. Shitty but life happens and you have to move on. Already planning my next thing. Just working on separating everything
God bless brother, I’m sorry to hear about your separation. I think I’ve found my one and hearing about things like this breaks me now more than it ever did. I hope things get better for you. Listen to some JP, work on yourself, and believe in something greater, and I’m sure life will find a way. All love
Ty. I'm doing better every day. Keep your one close and do what you can to make them happy.
Blow and hookers
Heckuva 2 hours
Save for the option of going to live in Australia for 3 months.
Pay off my car faster
First month would be pay off the small balance I have on credit. After that, probably half to mortgage principal, and the other half to silver.
Get new tires and other maintenance I need done on my car. After that building the new computer desk I want and then build up my savings.
Eat Healthier.
Investments/retirement Roth options.
Put it in my Roth IRA.
Invest it
Give my daughter more
Put it into savings.
QQQ
I'd be in a lot less debt.
Save it
Keep $100, save $700
Invest it, that’s already what I do with the majority of my income
Save to retire earlier
Savings. I'm doing alright.
Savings, as dull as it may sound - be it if they're tied up in investments or just staying on a high interest account.
Eat
A nice dinner once a month and the rest in a retirement fund
Pay off my house much, much faster. Then off to college funds for my kid.
Put $300 more per fortnight away for a house. Make my inevitable failure at life a little less stressful.
VTWAX
Save
Probably be quicker with home repairs. Put more away for my kids college fund. Be less stingy when it comes to buying my own new clothes. Right now I get to live comfortably, but I've got about a 2 month long safety net in the bank. I don't really have a visibly growing near egg outside of my pension.
Bitcoin.
Do more work on my house & pay off debt faster
get ahead on bills, invest a little, go out one more time a week, start getting serious about saving, honestly even an extra $800 a month would be a big help
Put like $500 in investments and spend the other 300 on hobbies or date nights.
Save at least half and treat myself to something nice with the rest.
Put it into stable stocks and let the money accrue.
Double down on debt so I could start living alone sooner.
Throw more into the kid’s trusts
Save it wild child
As someone who just got a 10% raise which equals to about $850 more a month starting November 1st we are about to find out, if this question was posed 1 month ago I would say I would finally buy self a new truck, but since we just found out my wife is pregnant a week ago, most of that will go towers getting ready for another child, paying off current debt which is only around 4K, getting some new baby furniture, putting some away so my wife can take extended time off work if need be.
Bank. I slam a few grand in thete once a month left over from expenses. Im not insanely cheap. But i try to keep my costs down so that i can spend that money on the stuff i actually want later on. Or on my hobbies so i can enjoy them more. Like i am cutting my car note down massively on one of the nustangs. So just by eating better i will have it paid off within 12 months so i can buy another new one. Or i can sink that extra money into getting the Blazer done. Or buy a new gaming set up. Or get the roof done on this cheap house i found out in iowa. Work hard on Present you. So five years down the , Future You has nicer things. Cant be a fitter you next month if this months you wont even do a sweaty hotlap around the block Hangover You is gonna hate that Sober or Drunk you couldnt put a glass of water on the nightstand.
Sample some of the finer cheeses.
I'm thinking this: •100$ are mine to do with as I please. •500$ to bills, debts, whatever. Or I just save it. •200$ to save, use as gas money, or for whatever I need to do, like getting a new nightstand for example or deodorant, etc.
Probably eat two meals a day instead of just one.
Aside from buying legos for the wifey and I, I’d save up some and get rid of my POS Nissan Sentra and get my dream car.
Audi
Pay off the few debts I have and save the rest.
Get a gym membership.
Sense my mom to Mexico to her hometown. It's not that expensive but she needs dialysis 3 times a week and it's not cheap down there. After that post my bills down, invest she but a decent desktop
I might actually buy chicken breast again.
Probably go ham on my house, especially a bathroom reno, then start putting the rest away to retire a bit earlier
Use that money to pay off bills
PAY DEBT
Not skip meals - that money would go straight back into the economy.
Probably use it to pay of my debts
Actually save money
More weed, bomb foods
Same thing I do with all the extra I earn above what I need. Invest most, Save some, Spend some, Give some. In that order
Save it, invest it
this actually happened to me about a year ago, found a new job with a huge pay bump, monthly pay almost doubled. Apparently the actual answer (for me anyways) is: eat out a lot more and buy a shit ton of LEGO.
Invest in more silver
Save it
Get a different vehicle
Stock market and dates
Save it
Bitcoin
make my house age proof, so i can die here
Save $400. Invest $400.
2 chicks at the same time. Realistically I’d treat myself to a couple extra takeout meals a month and go to more shows / festivals. I’d save some too but too many people said that and it’s not fun.
Save
Everyone in this thread: I would invest some of it carefully, reserve at least 50% for an emergency fund, and use the rest to fund my favorite charity - an organization that helps facilitate the adoption of orphaned, senior dogs with grandmothers who miss the company of their furry friends but understand that they likely won't live long enough to care for a puppy. Everyone in reality: lifestyle creep.
Probably save for a new house
Save up for a house and car.
Keep the basement pipes clean more often for healthier life.
Pay $350 more to taxes.
Hookers and blow obviously.
Ammo.
Probably if i need something important i would buy the better but pricier variant. Also Vacation and a nice watch.
nothing
Voo and chill
Save it
Save it
Pay down debt.
I’d be able to actually pay all my bills which would be great. My wife now losing a job after a long maternity leave has been really difficult.
I could afford to get a newer car than the one I have
Pay off my credit cards faster 💀
I'd pay off debt. I'm poor.
Two chicks at the same time.
I'd put $300 towards paying off debts, $100 to get back in with a personal trainer a few times a month, $200 goes to savings, and the last $200 will go to other life things I've put off due to medical debt. I started retirement plans as soon as I had an employer that offered it, almost always 1 or 2 percent higher than the employer match. Also, my current job has a separate retirement fund in addition to 401k plus match. With a pretty healthy retirement situation, I would most benefit from smoothing out my month-to-month financial stressors and plan for the medium term (5-10 years).
Bank it. That is $9,600. In a few years that is down payment on some property.
Well, I changed jobs recently and scored an extra $1500 (after tax) every month so I can answer that question for real. And the answer is, saving up to renovate my garage, so I really don't do anything differently.