Control service spending.
This is what most young millennial peeps struggle with they dont want to do things themselves.
When you eliminate Uber, Uber eats, house keeping and whatever other service spending you like to do you will have to do them yourself. But by doing them yourself you are saving a great amount of money. Instead of realizing the saving they usually justify this spending with the classic I make 25 dollars an hour if i pay someone to do something im saving time thus its saving money because im worth 25 an hour.
This is wrong because you are only worth 25 dollars an hour for certain hours within a day, and unless you are doing some mean freelance while you are ordering your uber to go to your homies house you are spending a lot of money.
i have a friend who cabs it to my boys crib and back and he doesnt see how that 40 dollars a week turns into 160 a month that can be saved or invested else where.
Think about it. To the average person getting “returns” from an investment is meaningless. Your life isn’t going to be impacted in any particular way by your $2.11 in robinhood appl shares that became $2.50 overnight.
However, a financial crisis is devastating. You could lose your job. It would have huge impact on your day-to-day life.
So this advice is actually pretty good - you just keep a small short position on the entire market to hedge your greatest “investment,” which is yourself and your career, being essentially a long position on employment continuing to be good and the economy not suddenly entering a depression.
A hard way to look at finances is to understand unless you are saving money you will be working for the rest of your life not out of want, but out of need, and that is no good.
I feel bad for my family, its very hard for me to get them to understand they are on route to work forever. In the end I will be the one who will have to save them. So i am doing my best to make sure i can.
Yeah I was only expressing interest because I wanted to follow the markets a bit closer. Its a pretty worthless idea for generating cash but it seems like a great way to force yourself to keep an eye on market trends.
a crashed market is a ocean of opportunity. so having side money saved up can make you rich when it starts to boom again.
The mistake people make is the keep expecting it to crash, and when it doesnt they are left with inflated currency worth half of what it used to be when they hoped for the market crash.
Thats why I wanted miniscule amounts and shit. And i probably wouldnt regularly trade at all, mostly just want to hodl innovative companies that have strong growth potential. Start tiny and maybe if I like them I can go a but deeper later, but 2 bucks here and there shouldnt effect my mood or im more Jewish than I thought