13
cha-m-ra
71d

Have you had any money saved? What is your process when it comes to saving money? What kind of investments did you do with your savings?

Comments
  • 5
    I have the following:
    - Passbook savings
    - Checking account
    - Crypto (XRP, BTC, and ETH)

    Passbook savings are just purely savings I don't touch. I try to deposit 10% of my monthly salary there every month.

    Checking account is for paying my rent bills. I deposit the rent cost + a few extras just in case shit happens.

    Cryptos are just money I don't mind losing. Although I have earned quite a few from it, I was able to pay electricity bills, etc. from its gains. I don't touch it these days.

    These things saved me when I was unemployed for several months and had to pay for my medication.
  • 2
    @rutee07 that's a quite nice plan you got there! Don't you have health insurance?
  • 2
    @cha-m-ra I have the basics offered by my employer but they don't cover medical expenses for mental health. I'm looking into though since I don't plan to be employed for too long.
  • 1
    @rutee07 is that so?
  • 7
    -stash invest ($70/wk)
    -savings from paychecks ($100-300 biweekly, but I frequently have to pull a small portion back out because I was too aggressive).
    -4% of pay into IRA (employer adds another 4%)

    I almost have a whole 2 week paycheck in my immediate savings account.

    Saving is harder with kids
  • 0
    @steaksauce what's stash invest???
  • 5
    You can invest small amounts ($5 or so) in various ETFs, stocks, bonds. I'll shamelessly give you a code that gives you (and me) $5 for signing up

    Edit: you may have to be in US for it
  • 3
    9% into 401K, employer adds another 9%
    Profit sharing account.
    Acorns investment
    Fidelity brokerage account, but I practically emptied it to help out my kids. Hoping they'll remember their poor ol' Da in years to come.
    About $300.00/month into savings
    I have about 1.5 months expenses saved. Need to build to 6 months, but life happens and taking care of fam comes first, so it has stagnated at 1.5 months.
  • 4
    9% match @iAmNaN ???
    Get me a job there
  • 4
    @steaksauce yeah, plus profit sharing, which is about another 8% to 10% depending on the year. That plus twenty years enlisted in the military, I'm hoping I won't be living on the street in my old age.
  • 3
    @iAmNaN I think you're set since you're not relying on social security
  • 3
    @steaksauce yeah, I figure social security is lost money, so I'm really not depending on it.
  • 4
    I usually do, except lately I had a spending spree. Setting up my apartment.

    Thin month should be the first one back on normal track, meaning I should be able to save 20-25% of my salary

    apart from that I use hi-risk investment funds, which are barely a profit. At least covers inflation..
  • 5
    I stash like 2/3 of my salary to bank account. I probably could live a year or more on it without doing anything, but I have no retirement plan.
  • 4
    I get 8% of salary to a pension fund.
    I spend around 50% of my salary on monthly expenses. The rest I save up. Once per year I invest 1-2 months in shares and bonds. Whatever is left, I spend on travelling.
  • 5
    I bought a Nintendo switch
  • 4
    Many years ago I had money saved..

    Then I met someone romantically..

    Then I got into debt..

    I'm still in debt a decade+ later..

    But not been in a relationship for years !

    When I had savings, I simply distributed it among several different banks to earn interest. (In case one went bust..)

    Advice = save as much as you can so you can retire early and enjoy your life whilst you are still alive.

    Relationship advice = don't move into together, or the other person will steal your house and every penny you have now, and for years to come..

    Relationship advice = don't repeat the same mistake more than once..

    Friends advice = don't lend to friends, they hardly ever pay you back !

    Family advice = don't lend to family, they hardly ever pay you back !
  • 3
    Other advice, live with parents, save on renting your own place, save up and build your own place to live in.
  • 1
    @Nanos thanks man!
  • 1
    @Nanos I live with my annoying mom because it's way cheaper than renting.
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