i've got my first job after getting out of college. not a great package. I'm learning more, will get experience. i have plans for freelancing and seek a better job. I'm an Indian.

what really upsets me is that I just discovered that I've no knowledge in finance. I'm feeling insecure, afraid and depressed. I'm browsing for some youtube channels, books and podcasts to get some some knowledge about finance and real estate.

all I have is a saving account in SBI bank, I just know how to take money out of it with my debit card and transfer money with online banking

how do u guys do ur finance, where do u invest. do u invest in stock market. insurance?? help me out. i'm fucked.

never thought i can be so stupid, I hate myself, never even thought I'll need financial intelligence.

are there more people like me.

i'm just so down and feeling suicidal.

  • 6
    Hey man, I'd say just keep educating yourself and find somewhere to invest with low fees. Don't try play the stock market, that's pretty much gambling, just invest in index funds.

    Also, pretty much the golden rule, if some investment opportunity seems too good to be true it probably is.
  • 10
    Mate, you've got your first job and you're feeling suicidal because you don't know about investing your paychecks in the stock market?!

    Not quite sure if I'm missing something here, but that's only really worth doing when your paycheck is on the level that means you can save substantially. It's certainly not something I'd expect to happen on a first salary, and without wishing to sound stereotypical, especially for a first salary in India.
  • 2
    Congrats to the job! That's a good start. Don't worry too much. Nobody really knows finance, some people know some tricks that work but it's no science. And once something is widely known it no longer applies. Be conservative until you feel quite secure. Save and keep expenses reasonable and you will be fine!
    I am definitely not the go to source for financial advice, just saying relax man!
  • 1
    If you have a savings account, put at least 10% of your paycheck in that.

    It's not going to make you money. Far from it. It'll just devalue a bit slower.

    However, until you have LIQUID equity (which means cash money you can freely spend without causing any stress on your finances or your need to eat/survive/pay bills) don't play with the stock market or securities (real estate etc.) as without sufficient understanding of those markets and without a firm foundation of your own personal finances to fall back on, you're essentially gambling with pennies and without knowing how to play the game.

    Not everyone invests, and more importantly, those that boast how much money they earned while investing are either lying to you or know more than 99% of the rest of the world about investing (this is a generalization but a safe one for someone in your position).

    Be frugal. That's the best investment early on in your career.
  • 2
    Hey Man..... I am also in this similiar stages... Sray Positive.. these all are part of our life.... If there is a down there will be a growth.. too... wi8 good thing take time:)
  • 2
    Congratulations on the job! For financial advice, everyone pretends to know what they are doing but in reality no one really knows for sure. It really depends on your 1, 5, and 10 year goals, but what I would do is set some money aside for savings, a mutual/index fund, and a tiny bit to play around with the stock market. I’m assuming your young like me, so it really pays off to be risky now rather than later in life IMO. Just put some money into things and make comparisons instead of speculating. But definitely do your homework first.
  • 2
    One advice I got from a friend that did do investments was, never ever invest money you might need.

    So start by building a buffer.

    Then once you have a buffer for unexpected expenses you can put money in some safe investments, like index funds or stable stock.

    Once there you can start learning more but real investments is a full time job if you really plan to make money so you should take some time to really think about what you want to be doing.

    Gambling on stock is a very high stress job, you will basically live on adrenalin an coffee.

    Thats not my preferred way of life ;)
  • 3
    @Voxera To take your first sentence to the extreme, the advice I received (and have always followed) is never invest money you aren't completely willing to lose.

    Glass half empty I suppose, but it works both ways.
  • 2
    @junon that the advice I got.

    Personally I have never invested in anything but funds since I do not feel I have the time or interest to be any good at direct investment.
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