Financial Tips Thread (Saving, Budgeting, Etc.) Everyone drop some knowledge in here
- Thread starter deeznutsyo
- Start date
Field Marshall Bradley
Veteran
They got that 2-ply though?
Yeah. Its wack though. It aint got that aloe vera bootie soothing swag.
Triple No Homo
Reality
Make your own luck.
Good thread. I just started my full time job outta college and have managed to save about $16k in a little over year (coulda saved way more if i didn't buy a new car like a fukking idiot 
)
$8k of that is held up in a mutual fund that I contribute 10% of my income to monthly.
I've gotten advice from fam that I should up my contribution, but I'm in the mindset of trying to build a nice little nugget for an investment opportunity.
I definitely plan on getting into real estate at some point, but I'm looking for an investment class that allows me decent returns while letting me stay relatively liquid (little to no cost for cashing out).
Any ideas? I went shopping for CD rates and was utterly disgusted by what I saw. Not sure what else is out there, though...at the point where I'm thinking about getting creative and flipping fire sales like someone else in here mentioned (thinking the iphone 5, ipad mini, etc).
Props ahead of time.
)$8k of that is held up in a mutual fund that I contribute 10% of my income to monthly.
I've gotten advice from fam that I should up my contribution, but I'm in the mindset of trying to build a nice little nugget for an investment opportunity.
I definitely plan on getting into real estate at some point, but I'm looking for an investment class that allows me decent returns while letting me stay relatively liquid (little to no cost for cashing out).
Any ideas? I went shopping for CD rates and was utterly disgusted by what I saw. Not sure what else is out there, though...at the point where I'm thinking about getting creative and flipping fire sales like someone else in here mentioned (thinking the iphone 5, ipad mini, etc).
Props ahead of time.
401(k), Index Funds are good because you diversify and limit risk.
www.troweprice.com (if they debit $50 per month, you don't have to come with the initial $2,500 deposit all mutual funds require)
Learn the basics.
1) Stocks (and capitalization)
2) Bonds
3) Mutual Funds (a company manages a portfolio of stocks and bonds for its investors)
4) How they provide a return on your money.
To invest in individual stocks you have to do more work.
1) Research: 10-K (annual report), Value Line, Forbes, Fortune, Business Week, WSJ, Financial Times, MSNBC, Kiplingers, CNN, FOX, etc...
2) Be able to predict and understand trends.
-For instance, the technology sector is fairly accessible to the average investor, so most people would be comfortable buying a technology stock without doing a lot of research.
-But lets say you want to buy a pharmaceutical company stock, not a lot of people have a good working knowledge of this sector. So you would have to do more research.
3) Learn and understand key metrics like P/E
4) Dollar cost averaging is an important strategy
5) Research: 10-K (annual report), Value Line, Forbes, Fortune, Business Week, WSJ, Financial Times, MSNBC, Kiplingers, CNN, FOX, etc...
you dont get rich by saving money. you get rich by investing money.
and own your own business
and make sure you invest in your community and link with other entrepreneurs who have high integrity
I'm tired of you Coli bums saying this cop out shyt. Let me get a link to your business that you own. Everyone running their own business who the fukk you gonna hire to work for you.
There's alot of real shyt being spoken on here dog.. don't get it twisted. So basically you need a white/Jewish guy to tell you to save money, live within your means, and invest in a 401K?Listen fam. Much love and all but I'd be weary about trusting what negroes on here have to say about finance. Always double check what they're saying and get second, third, fourth, etc opinions on what these dudes say.
Life's hard out here on these mean streets
Field Marshall Bradley
Veteran
Good thread. I just started my full time job outta college and have managed to save about $16k in a little over year (coulda saved way more if i didn't buy a new car like a fukking idiot
$8k of that is held up in a mutual fund that I contribute 10% of my income to monthly.
I've gotten advice from fam that I should up my contribution, but I'm in the mindset of trying to build a nice little nugget for an investment opportunity.
I definitely plan on getting into real estate at some point, but I'm looking for an investment class that allows me decent returns while letting me stay relatively liquid (little to no cost for cashing out).
Any ideas? I went shopping for CD rates and was utterly disgusted by what I saw. Not sure what else is out there, though...at the point where I'm thinking about getting creative and flipping fire sales like someone else in here mentioned (thinking the iphone 5, ipad mini, etc).
Props ahead of time.
Great start youngblood. Now imagine what you could do if you held on to this mindset for just 5 years. You could probably have around 80 grand in easily accessible cash. There aren't too many investment vehicles that kind yield a return with a sum that large in that time frame
Stay below your means in the beginning and keep taking these hoes to Chik Fil A instead of some bougie restaurant. Get your head into some of the books mentioned in the thread and decide how to properly invest and hide your money while its yielding steady residuals.
You're already way ahead of most americans with 16k in savings. Another thing is too select investment vehicles where there isn't severe penalties\fees for early withdrawals. Life can be a fool sometimes and if you need your money for whatever reason, there should be very few hangups or stipulations trying to access it because its your money.
That's why I feel 401ks are only cool if you have other investments and you're absolutely certain you're not going to touch it until the official retirement age.
Also,, be your own steward over your money kid. I heard someone say that wall street is the only place where I can drive too in a Rolls Royce to take financial advice from someone who had to take the train. How backwards is that shyt.
true.. it takes money to make money but finding the right investment or business is not as easy as it sounds. This is the holy grail of capitalism. from the richest 1% guy to the poorest guy in the hood- everybody is on the hunt for the sure bet investment. The Hebrews thought that their fellow brother Bernie Madoff was the sure fire investment return specialist, it didn't turn out that way
youre absolutely right, but nobody said it would be easy.
you just gotta analyze your current environment, your current situation, analyze your networks, your opportunities, your resources, your capital, etc... and also think about what youre interested in and what youre passionate about.
then plan ya work... and work ya plan
make adjustments as necessary as you go along, ALWAYS self-reflect and analyze potential moves
connect with like minds
work with the highest intent
and you be good
how am i gonna tell you specifics on how to invest your money, or how to start a business, and i dont know anything about you or your situation
you sound like you should start here Google
Nah dont even try it slick, you talking all the business shyt, lets see your business/products. You clowns wanna come into every thread and just say "Own your own business" while adding no real input into the discussion. Sayin shyt like that is easy, its like when old heads just tell youngins, "go to college". Let me see what business you running, maybe ill become an investor. Ill bet you dodge me tho. Starting a business is tough enough, making it successful is even fukking harder.youre absolutely right, but nobody said it would be easy.
you just gotta analyze your current environment, your current situation, analyze your networks, your opportunities, your resources, your capital, etc... and also think about what youre interested in and what youre passionate about.
then plan ya work... and work ya plan
make adjustments as necessary as you go along, ALWAYS self-reflect and analyze potential moves
connect with like minds
work with the highest intent
and you be good
how am i gonna tell you specifics on how to invest your money, or how to start a business, and i dont know anything about you or your situation
you sound like you should start here Google
You bums just parrot "start your own business" . I bet you have no idea the steps that need to be taken to ever fathom the mammoth undertaking that is running one.fukk outta here
The Nigerian
The Realest Member of TheColi
Yeah, I'm no fan of that type of bullsh!t.Nah dont even try it slick, you talking all the business shyt, lets see your business/products. You clowns wanna come into every thread and just say "Own your own business" while adding no real input into the discussion. Sayin shyt like that is easy, its like when old heads just tell youngins, "go to college". Let me see what business you running, maybe ill become an investor. Ill bet you dodge me tho. Starting a business is tough enough, making it successful is even fukking harder.
fukk outta here
Actionable, substantive advice is the only kind worth listening to.
Nah dont even try it slick, you talking all the business shyt, lets see your business/products. You clowns wanna come into every thread and just say "Own your own business" while adding no real input into the discussion. Sayin shyt like that is easy, its like when old heads just tell youngins, "go to college". Let me see what business you running, maybe ill become an investor. Ill bet you dodge me tho. Starting a business is tough enough, making it successful is even fukking harder.
fukk outta here
relax grasshopper, i have my own business so yes i understand what it takes to run one. and i also have a full time job in the matrix on top of that so im not new to this.
if you in NY ill introduce you to my business, otherwise nosoupforyou
and nigerian stop being a bandwagoning co-signer, it lacks character
relax grasshopper, i have my own business so yes i understand what it takes to run one. and i also have a full time job in the matrix on top of that so im not new to this.
if you in NY ill introduce you to my business, otherwise nosoupforyou
and nigerian stop being a bandwagoning co-signer, it lacks character
Another bland,no substance post. Wont say what business or even name it. No links to the page. You running a business with no website in 2012 breh? What not be a proud black business man and say what it is? Im calling your bluff until you drop some proof. No im not in NY but ill glady visity your site and check out your stuff. SO you running your own biz and then going to work for someone else full time? Obviously contradicting your own advice you posted in your first response.
Its all good breh, just keep diggin that hole
This is all i see when you dudes talk that boss life and refuse to prove it.
I know i know, you gonna come say you aint gotta prove shyt to me, prolly say something typical like your just a dumb net nerd, aiight aiight,
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Another bland,no substance post. Wont say what business or even name it. No links to the page. You running a business with no website in 2012 breh? What not be a proud black business man and say what it is? Im calling your bluff until you drop some proof. No im not in NY but ill glady visity your site and check out your stuff. SO you running your own biz and then going to work for someone else full time? Obviously contradicting your own advice you posted in your first response.
Its all good breh, just keep diggin that hole
Dr. Money II - YouTube
This is all i see when you dudes talk that boss life and refuse to prove it.
I know i know, you gonna come say you aint gotta prove shyt to me, prolly say something typical like your just a dumb net nerd, aiight aiight,
youre right, i dont have to prove shyt. youre only a customer
and my matrix job is in youth development. its a job i love because of the kids. i havent worked a day in my life
plus health and dental heres some advice... turn your hate off and turn ya hustle up
youre right, i dont have to prove shyt. youre only a customer
and my matrix job is in youth development. its a job i love because of the kids. i havent worked a day in my life
heres some advice... turn your hate off and turn ya hustle up
No hate here, I just dont like when people pretend to know about shyt they have no idea and want to lead others down the same road. You lying like a bytch but w/e do you breh. I know you would come back and cop pleas so its fine. I saw your whack ass gimmick from a mile away, when you dropped that generic advice.
Bums like you aint worth the time man, you aint built for nothing but talking and hiding.
I dismiss you and have no further arguments. You lose
No hate here, I just dont like when people pretend to know about shyt they have no idea and want to lead others down the same road. You lying like a bytch but w/e do you breh. I know you would come back and cop pleas so its fine. I saw your whack ass gimmick from a mile away, when you dropped that generic advice.
Bums like you aint worth the time man, you aint built for nothing but talking and hiding.
I dismiss you and have no further arguments. You lose
at the end of the day im just tryna help folks with a little financial advice.
dont save just for a vacation or a car, save to invest in something.
own your own business dont work for someone else.
and link with other like-minded entrepreneurs.
now im sure a lot of people already knew this, but im just as sure a lot of people DIDNT know this, as evidenced by the number of people slaving 40-50 hours a week at a job they hate just so they can live.
and then you come in with your willie lynch syndrome on some negative shyt. tryna tear a brotha down
thats worse than a
