Official Personal Finance/Home Economics Thread

[BobbyBooshay]

If you haven't already, but will be a good time to get some Tesla stocks

It will more than likely be added to the s&p500 fund. Providing it reports another quarter of being in profit and the 9 fund descion makers agree to adding Tesla.

July 22nd is when tesla will announce its quarter earnings.

More than likely it will announce being in profit again, so share prices should go then.

When it gets added to s&p, again that will increase price of tesla shares and also the s&p fund

Eating well, I have Tesla stocks and also put a lot of my savings in s&p

 

[Macallik86]

If you haven't already, but will be a good time to get some Tesla stocks

It will more than likely be added to the s&p500 fund. Providing it reports another quarter of being in profit and the 9 fund descion makers agree to adding Tesla.

July 22nd is when tesla will announce its quarter earnings.

More than likely it will announce being in profit again, so share prices should go then.

When it gets added to s&p, again that will increase price of tesla shares and also the s&p fund

Eating well, I have Tesla stocks and also put a lot of my savings in s&p

It's up 50% in 16 days. I don't think it can continue at this pace for a long period of time. Kudos for getting it early but I think a lot of your future expectations are already built into the price... a lot of mom and pop investors are already in the stock and smart money has been in it for years so I'm not sure who's left to continually push price higher long term

 

[BobbyBooshay]

It's up 50% in 16 days. I don't think it can continue at this pace for a long period of time. Kudos for getting it early but I think a lot of your future expectations are already built into the price... a lot of mom and pop investors are already in the stock and smart money has been in it for years so I'm not sure who's left to continually push price higher long term

I think it will see Amazon prices, they are a good few things going for it despite the S&P stuff

They recently reduced the prices of Model Y
They are entering the Indian market
They creating a new gigafactory in China to keep up with the demand over there
They also have their renewable energy section which is still in its infancy

 

[phcitywarrior]

Covid forced me to rethink how I approach personal entertainment and how much I spend on entertainment. Post-covid I'm sticking to my "skinny" plan and focusing more on outdoor activities for my entertainment (will save some $$ in the process).

Example: Replace hitting the bar with bringing a bottle of wine to the park

 

[phcitywarrior]

Pro Tip: Open a 2nd checking account to use only for paying bills (phone, utilities, rent/mortgage, loans etc) and set it up for auto-pay (you usually get a discount with some companies). Transfer enough money each month to ensure all bills will be covered and then put the debit card out of sight. Don't link that account to any apps outside of the ones required to pay your bills i.e. venmo, uber eats, apple pay etc

Leave your main checking account for discretionary spending (food, clothes, gas, entertainment etc).

This should help folks that get tempted to spend money that's just sitting in their account but hasn't been paid through auto-pay.

Out of sight, out of mind.

 

[Dolla$]

Close to hitting my goal of having 1 year emergency fund in my savings. This pandemic kinda put things in perspective for me that shyt can get real at any minute. Having that amount sitting in my account will have me sleeping much better at night

Once i accomplish that I’m gonna knock the little debt that i have which should take no more than 1-2 months.

Lastly, I’m gonna go heavy on investing my money and put some money to the side for home renovations next year.

I feel blessed. All praises to the most high

Shoutout to Elizabeth Warren by the way. I read her book and have been following her 50/30/20 rule. It has done wonders for me in how I handle my finances. If she was running for president I would be there front and center

 

[winb83]

Pro Tip: Open a 2nd checking account to use only for paying bills (phone, utilities, rent/mortgage, loans etc) and set it up for auto-pay (you usually get a discount with some companies). Transfer enough money each month to ensure all bills will be covered and then put the debit card out of sight. Don't link that account to any apps outside of the ones required to pay your bills i.e. venmo, uber eats, apple pay etc

Leave your main checking account for discretionary spending (food, clothes, gas, entertainment etc).

This should help folks that get tempted to spend money that's just sitting in their account but hasn't been paid through auto-pay.

Out of sight, out of mind.

My bills are auto-paid on credit cards. My rent isn't because I don't wanna pay the fee for that.

 

[Ozymandeas]

Dope thread, gotta disagree on #2

When I was like 19-20 I had only one debit card and was out to eat at Hooters one night. Couldn't pay my bill because Capital One put a fraud block on my shyt

Always kept at least 2 checking accounts/debit cards ever since

I have three checking accounts/debit cards, and 6 credit cards. I’m getting access to money from somewhere

 

[winb83]

I have three checking accounts/debit cards, and 6 credit cards. I’m getting access to money from somewhere

5 checking accounts. 3 savings accounts. 13 credit cards.

 

[Macallik86]

I've got one checking account/savings/debit card and 2 credit cards. Thinking of getting a third credit card for cashback on groceries soon.

 

[winb83]

I've got one checking account/savings/debit card and 2 credit cards. Thinking of getting a third credit card for cashback on groceries soon.

If you're responsible with credit you should have these 6 cards minimum:
Amex Blue Cash Preferred for 6% back on groceries and streaming services 3% back on gas (regular has 3% back groceries)
Chase Freedom Flex and Discover It rotating 5% back categories
US Bank Cash+ selectable 5% back categories
US Bank Altitude Go 4% back on dining
Citi Double Cash 2% back on everything
The Amex has a $95 annual fee but to me it's worth is.

 

[Macallik86]

If you're responsible with credit you should have these 6 cards minimum:
Amex Blue Cash Preferred for 6% back on groceries and streaming services 3% back on gas (regular has 3% back groceries)
Chase Freedom Flex and Discover It rotating 5% back categories
US Bank Cash+ selectable 5% back categories
US Bank Altitude Go 4% back on dining
Citi Double Cash 2% back on everything
The Amex has a $95 annual fee but to me it's worth is.

Credit score is hovering near 800 at the moment. The Citi Double or the US Bank are the cards I have my eye on. Already own the Discover IT card.

 

[malbaker86]

wife and i used this pandemic to go ahead and file bankruptcy. we should be discharged next month. credit card and medical bills were KILLLLING us


tryna rebuild once this is over is going to be an adventure

 

[Secure Da Bag]

Already own the Discover IT card.

IT card?

 

[phcitywarrior]

Bumping for 2021