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How do you all manage your money?

RickTheToad

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6 months' salary in liquid cash checking account. One year is even better but I'm happy with 6 months.

I realize that 401(k) is a dogshiat idea designed by politicians and the superrich to protect and empower the wealthy few. Very few know what a pension is, and very fewer have a pension. So I choose minimal contributions to my 401(k). Nothing high risk (though ALL of it involves risk). I like middle-of-the-road returns. Slow and steady wins the race...until the greedy Wallstreeters are again allowed to go unchecked and destroy the financial system like they did in 2008.
Not sure about that. Depends on who's the custodian and what funds you have access to. If it's loaded funds, then yea, it sucks. However, it's it's no load funds, then you'd do well over time. All you need is the broad index, S & P 500 and a US bond fund. If you want to go a little crazy, go for some international exposure. The SE Asia countries have a lot of upside over the long term. It's like China 30 years ago. But hey, I'm a toad, so take it with a grain of salt.
 

ChristopherColumbus

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Ever since 2008, and the debacle of Greenspan, people can not afford to allow central banks to do their macro-economics for them. Once we didn't have to worry about the validity of the money, what it meant, whether it could store value, what its worth was against other currencies etc. Not so today. Don't be lazy people, and start thinking for yourself.... if so, I predict you'll not being looking at wealth as just denominated in US dollar terms.
 

Pathological

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Julian is what we call a "sommer child". Just ignore is my advice. Though there are some points said he would never present them in anh credible way due to bein actualltly an agitator with the sole task to discredit.

OT: I am living check to check off a part time job. The worst payments are unexpected travel costs and gas...
 

synergy1

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I manage a lot of my money via retirement plans - 401ks. Currently, those are invested in long-duration US bonds. Much of my money is cash well over a year's worth. Lastly, I have invested money that I trade. Will be accumulating gold and silver in coming months and years as I see a secular bull market in those due to aggressive central banking intervention in their respective economies.
 

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Mauser96

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I think I really could tighten up my money management if I'm gonna be successful. I suppose I could budget it all out in a Word Document and keep track of what I'm doing in there. How do you all manage your money?
You need to get a library card and start reading all you can

Some basics are - if you have debt, get out of it
Start saving for retirement NOW. If you have already started, save harder.
Live below your means
 

DEEZEDBRAH

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I think I really could tighten up my money management if I'm gonna be successful. I suppose I could budget it all out in a Word Document and keep track of what I'm doing in there. How do you all manage your money?
YouTube Dave Ramsey.

Use cash for everything. Chipped cards is lazy. The miscellaneous expenses add up.
 

BeTheChange

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YouTube Dave Ramsey.

Use cash for everything. Chipped cards is lazy. The miscellaneous expenses add up.
Dave Ramsey is good for getting out of the bad kind of debt (consumer) but following his advice won't make your rich.

If you want to play with the big boys you'll most likely need to use leverage at some point. This is how most people accumulate fast wealth - outside of inheritance. Even many startup founders tend to use overdrafts/personal loans at the bootstrap phase.

No credit history is almost as detrimental as poor credit history so you should definitely be using (and paying off) at least one credit card each month.
 

nicksaiz65

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YouTube Dave Ramsey.

Use cash for everything. Chipped cards is lazy. The miscellaneous expenses add up.
Especially recurring expenses. They were killing me. The only thing I have now is my Apple Music, which I need to get through the day. As a student, that is $5 a month.
 

DEEZEDBRAH

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Especially recurring expenses. They were killing me. The only thing I have now is my Apple Music, which I need to get through the day. As a student, that is $5 a month.
Stay on the grind. Keep expenses low. Get the degree. Network. Set up a gig before grad. You hit it.
 

ShePays

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I think I really could tighten up my money management if I'm gonna be successful. I suppose I could budget it all out in a Word Document and keep track of what I'm doing in there. How do you all manage your money?
Depends what you mean. What's your situation? Are you having trouble paying your bills, or saving money, or looking for a way to make your money grow?
 
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