SkippingRelax @ SkippingRelax @lemmy.world

Posts

1

Comments

427

Joined

2 yr. ago

Texanistan

ITT a breath of fresh air. I am not alone in having an interest in personal finance, and understanding the basics of it.

Most of my interactions on lemmy so far have been making me feel guilty (and downvoted) for saving some money like I was a dirty billionaire, and to invest in index funds, using capital to further oppress the masses.

In Australia, at least at the beginning, bnpl services managed to bypass all money lending regulations based on the fact that they don't charge interest. I know that there were discussions about fixing that but haven't been following the topic in a while.

Like the other person, I also assume you meant lenders, not borrowers. Lenders WANT people that are terrible with their finances. Visa makes very little with me paying off my credit card in full every month, just some merchant fees. On the other hand plenty of Australians are in constant credit card debt and pay something like 18-22% interest on the money they borrow.

Good on the Dutch government to try and control that.

We both know that stuff will never be used again!

I think the answer is in your first sentence, personal finance literacy. At least in my case reading about it, learning the basics (six months expenses emergency fund, pay credit cards in full every month, invest in ETFs..) and understand other people's strategies is all it took. Hate to say it but I owe reddit one for all that knowledge.

Ah the person that complains they had to tap into their investments because you need to periodically get a new bed and redo your deck and can't save money. Yes I got downvoted for providing basic personal finance recommendations there!

I think the problem is a combination of the things you mention, and the fact that society is just normalising stupid spending, waste of resources and spending everything you earn, if not more.

When on reddit, I was active on personal finance subs. The amount of people asking for suggestions on how to improve their budget that didn't see anything wrong with 10-12 subscriptions for shows and music, on top of astronomic phone bills, eating out etc was crazy. At least they took the first step, wrote down their expenses, and were asking for help. The bed/deck guy was just pure madness.

Indeed, and once she deletes the bnpl app, she'll use credit cards to buy useless shit like she prolly did before.

I think me and you have been successfully clickbaited though, the journalist looked for such an extreme example to cause outrage, have the article linked on various aggregations, and be discussed.

It's more sustainable to eat the animals you make clothes from.

How long is a piece of string?

Depends on how much you earn, what are your expenses, and how much you have saved already.

You are barely keeping up with inflation, don't think that's an investment. That said, you are doing the right thing, keep that money available if needed.

Everything on top of 6 months expenses, you should invest in something less liquid that on the long term yields decent returns.

You seem to be in a very unique situation. And to have a pretty good understanding of personal finance and of your risk appetite. What you say works for you and a few people that happen to have access to universal healthcare, what looks like four separate insurance policies, and that can manage not to fuck it up with credit cards.

6 months liquid emergency fund remains the best strategy for most people out there.

Would certainly suck if those six months worth of emergency fund had temporarily gone down to four months because of a downturn in the stock market though.

Accidentally there might also be some correlation with stock markets going down, and an emergency happening. Eg large company laying staff off.

That said you can do the math and see how much that money would return on average on etfs compared to a bank account, and decide if that's worth the risk to you.

Experts say no, I agree with them but I see your point, and it's definitely worth to challenge these suggestions.

Really hard to play ball. Really is this the best defence for manicured lawns?

And the fucking noise from lawnmowers and whipper snippers all day long.

I'd like to relax and read a book outside, on my messy lawn but all my neighbours do is come outside, make noise for a couple of hours and once they have a 'perfect' lawn they fucking go back inside.

Get more native plants. Take rid of dogs. Get chickens.

Not a fan of artificial meat but I believe bm had a potential market that wanted their products, in a new industry that has plenty of potential.

Besides pure speculation/gambling, what does reddit have to offer to genuine investors in 2024? They never made a profit, they don't have a plan to make profit, they are alienating their users and their mods, they are low in the list of social media sites by usage with no credible plans to climb up the ladder. Really what's in there to invest in?

If I put money in a single stock ipo I want to believe that they are going public to raise funds that will be used to enact a credible businessplan. I might still be wrong and be left to hold someone else bag, but at least I believed in an idea.

For the past few weeks teddit was trying to sell stock to their users and their employees families. That's MLM marketing for you

Except that you are the one with biases here, you are the one who replied to someone who was clearly talking/asking about grammar rules and you did it with a weird twist around (your?) belief structures .

It's an interesting take but one that maybe you need to explain and not give for granted that everyone knows what is going on in your head. Also you just did then same yourself with non human animals, same as illegal aliens mate.

Magnets stop working if they get wet, like under a bridge

Actually you were, and everyone replied accordingly.

You seem confused