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#money management
bitchesgetriches · 1 month
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{ MASTERPOST } Everything You Need to Know about Saving Money and Being Frugal
We’re all in this together. Don’t give up.
On food and groceries:
How to Shop for Groceries like a Boss
Why Name Brand Products Are Beneath You: The Honor and Glory of Buying Generic
If You Don’t Eat Leftovers I Don’t Even Want to Know You
You Are above Bottled Water, You Elegant Land Mermaid
You Should Learn To Cook. Here’s Why.
On entertainment and socializing:
The Frugal Introvert’s Guide to the Weekend
7 Totally Reasonable Ways To Save Money on Cheap Entertainment 
Take Pride in Being a Cheap Date
The Library Is a Magical Place and You Should Fucking Go There
Your Library Lets You Stream Audiobooks and eBooks FOR FREEEEEEE!
What’s the Effect of Social Media on Your Finances?
You Won’t Regret Your Frugal 20s
On health:
How to Pay Hospital Bills When You’re Flat Broke
Run With Me if You Want to Save: How Exercising Will Save You Money
Our Master List of 100% Free Mental Health Self-Care Tactics
Why You Probably Don’t Need That Gym Membership
How to Get DIRT CHEAP Pet Medication, Without a Prescription 
On other big expenses:
Businesses Will Happily Give You HUGE Discounts if You Ask This Magic Question
Understand the Hidden Costs of Travel and Avoid Them Like the Plague
Other People’s Weddings Don’t Have to Make You Broke
You Deserve Cheap, Fake Jewelry… Just Like Coco Chanel
3 Times I Was Damn Grateful for My Emergency Fund (and Side Income) 
When (and How) to Try Refinancing or Consolidating Student Loans
The Real Story of How I Paid Off My Mortgage Early in 4 Years 
Season 2, Episode 2: “I’m Not Ready to Buy a House—But How Do I *Get Ready* to Get Ready?”
The Most Impactful Financial Decision I’ve Ever Made… and Why I Don’t Recommend It
On buying secondhand and trading:
Almost Everything Can Be Purchased Secondhand
I Am a Craigslist Samurai and so Can You: How to Sell Used Stuff Online
The Delicate Art of the Friend Trade
On giving gifts and charitable donations:
How Can I Tame My Family’s Crazy Gift-Giving Expectations?
In Defense of Shameless Regifting
Make Sure Your Donations Have the Biggest Impact by Ruthlessly Judging Charities
The Anti-Consumerist Gift Guide: I Have No Gift to Bring, Pa Rum Pa Pum Pum
How to Spot a Charitable Scam
Ask the Bitches: How Do I Say “No” When a Loved One Asks for Money… Again? 
On resisting temptation:
How to Insulate Yourself From Advertisements
Making Decisions Under Stress: The Siren Song of Chocolate Cake
The Magically Frugal Power of Patience
6 Proven Tactics for Avoiding Emotional Impulse Spending
On minimalism and buying less:
Don’t Spend Money on Shit You Don’t Like, Fool
Everything I Know About Minimalism I Learned from the Zombie Apocalypse
Slay Your Financial Vampires
The Subscription Box Craze and the Mindlessness of Wasteful Spending
On saving money:
How To Start Small by Saving Small
Not Every Savings Account Is Created Equal
The Unexpected Benefits (and Downsides) of Money Challenges
Budgets Don’t Work for Everyone—Try the Spending Tracker System Instead
From HYSAs to CDs, Here’s How to Level Up Your Financial Savings
Season 2, Episode 10: “Which Is Smarter: Getting a Loan? or Saving up to Pay Cash?”
The Magic of Unclaimed Property: How I Made $1,900 in 10 Minutes by Being a Disorganized Mess
We will periodically update this list with newer articles. And by “periodically” I mean “when we remember that it’s something we forgot to do for four months.”
Bitches Get Riches: setting realistic expectations since 2017!
Start saving right heckin’ now!
If you want to start small with your savings, consider signing up for an Acorns account! They round up your every purchase to the nearest dollar and save and invest the change for you. We like them so much we’ve generously allowed them to sponsor us with this affiliate link:
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thatsbelievable · 1 month
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chrisdoeslife · 1 year
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I had this exact conversation with a friend last week. She had over $3K in a Roth account just SITTING THERE. Not invested in anything. But how would she know?? Nobody ever explained it all to her, they just told her to open a Roth IRA and deposit money every month.
So this is just a reminder to all of you since I often post about financial planning and saving for retirement!!! Make the IRA contributions and then buy assets with that money!
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You see, friends? Anyone can become financially set-for-life like Kyle if you just take a few simple tips from him: -make sure your first job Senior Project Manager at your father’s hedge fund.  Put 25% of your $250,000 salary into a savings account.  I know that it’ll be hard getting by on just $187,500 a year, but if Kyle could do it, anyone can! -Why waste money paying for housing?  Just live for free in your grandparents’ vacant vacation home.  In Monterey. For a few years.  -Getting a mortgage to buy a house is a classic mistake. Instead, just get your uncle to give you $500,000! -Be sure to really tighten your belt. That means no vacations to Italy or Japan!  You’ll have to stick to vacationing in your own country instead! “Managing your spending is difficult, but if I can do it, anyone can!” THANKS KYLE!!!
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notfinancialadvice · 11 months
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It's been awhile, but I have a new thought for folks starting out investing
This blog is called "not financial advice" so this is not financial advice. Nothing on this blog is.
And.
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I am working on a large-scale D&D-style banking system for a private client (my job is weird). This is putting me in touch with a lot of people in very expensive suits and it I keep pinging them:
"Let's say someone has $100 to start investing, what should they do. Like, literally $100. With $0.00 added after."
I've cobbled together some thoughts (not advice don't sue me) and cut out the bullshit and sales pitches.
Start a high-yield savings account in an FDIC insured bank. As of this writing (April 27, 2023, United States-based), it'll be somewhere between 3.5 - 4.25% APY (annual percent yield -- i.e. interest)
Go with a bank that is FDIC insured. Banks pay for this, you do not. Here are smart people talking about what FDIC is.
The percentage difference listed above is 0.75%. Moving money is a bitch, is it worth chasing 0.75%? That depends on your situation, time, etc. Here are smart people who built a calculator to help you figure it out if it's worth it to you.
Touch it as little as possible.
Start a spreadsheet that tracks your finances.
In the cell that lists the amount of this balance, give it a name. Something fun, something that speaks to you. I did this as an experiment + to participate, mine is "Slime Research Adventurer Destruction Fund".
Write a prospectus (fancy word for "this is what the goal for this cash is to do").
Slime Research Adventurer Destruction Fund prospectus: Follow the path of high-yield savings rates at {bank}. Review quarterly if other banks have a substantially better rate (+1.5%).
The entire point is to break the idea of "them not me" and "today vs. someday" and "I cannot begin to build wealth vs. someone else can."
A $100 savings INVESTMENT IN A SAVINGS ACCOUNT with a rate of 3.5-4.25% will give you interest of $3.50-4.25 at the end of the first year, then continue on growing onwards.
That is your return.
Is it as high as investing in the market? No.
Is it safer? Holy fuck yes.
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When you invest in stocks, bonds, etc. you are looking for a return. This is your return.
This is not a grindset mindset work 24/7 chunk of advice. This is not a reality-disillusionment "I am struggling I need to work harder."
You need to be knowledgable about how things can work for you so you can leverage what you have, where you are, when you have it, as you can.
A high-yield savings account is not going to make you rich.
It probably won't make a difference in an emergency.
It will absolutely make a difference in non-emergency times, over a period of time.
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Slime Research Adventurer Destruction Fund Destroying Adventurers.
That last point is where I'm coming to.
If you don't have enough cash to invest and/or you're not comfortable investing, that's fine.
Give your savings account a name that speaks to you. This is your investment. Your savings account = your investment account.
There is no moral or ethical difference between "I have cash shoved into a savings account" and "I have cash shoved into the stock market."
The only difference is potential risk, growth, and fees (never pay for a savings account), liquidity ("how quickly can I convert this thing into cash to buy an apple at the grocery store, pay a bill, etc.").
Make money less scary via weird names and fun graphics.
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Go to a piccrew site and make a catgirl with pink and blue hair.
Name your fund "Catgirlsnax Fundsies".
Make. Money. Management. Less. Scary. By. Taking. Control. Via your own. Desires. Goals. Weird quirks.
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Here is to hoping these gifs are not from horrible shows I don't know anime I know money and business and monsters.
If they are then I apologize for it.
I've read the notes on my blog and a lot of you like anime. I'm hoping these resonate.
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projectbatman193 · 10 months
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A lot of this I’ve been trying to develop from project Batman! 
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explorewithriza · 1 year
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Time gone never returns.
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batwynn · 8 months
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Ok so I potentially solved some of the mystery of why Inprnt has started to be useless with their payments but then again I might be just:
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So take this with a grain of salt, ok?
From publicly available info:
In 2017 the owner of Inprnt’s wife was added to the company as a manager. Her signature is on the yearly reviews after that, and she obviously was handling different managerial elements in the company. Her previous job experiences include a lot of money management stuff like PeopleSoft project cost, finances, billing, etc.
In 2020 she is removed from the manager position/possibly the company entirely. Sadly, she does not list her time at the company anywhere on her LinkedIn which means I can not confirm that money management was a part of her roll at the company. (Which is interesting all on its own, considering she seems to have just left that large chunk of work off her resume completely.)
Which might explain why the payment processing has gone down hill in the past few years. That, and a lot of payment processors from PayPal to Etsy have significantly slowed down and/or faced delays in this past year for their own reasons. Again, I’m not able to 100% confirm a connection, but it is a possible contribution to it. The final little bit of relevant info that helps point towards a slowly growing mix of mismanagement at Inprnt is this 2021 work review posted on Indeed:
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cazort · 13 days
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I see a disturbing number of people, mostly millennials, these days, who have significant incomes and are starting to amass significant savings, who have terrible financial management skills. People who live at home with parents and get a full time job can accumulate money really fast. A lot of people are letting huge amounts of money, like sometimes as much as $20,000 or more, accumulate in checking accounts where it is earning either no interest or negligible interest.
Because inflation is high (over 3% these days), you are effectively losing money when it sits there. Also you're allowing the bank to profit off it; it's lending your money out to other people, often at interest rates as high as 6-7% or more, and it's not paying you for it.
If you have more than maybe around $3000 dollars in an account, you want that money earning interest. Here are things you can do to earn more from your money:
Open a savings account at a higher yield. Go to a different bank if necessary. CIT Bank has rates around 5% these days.
Pay off high interest rate debt but not low-interest rate debt. If the interest rate is above about 7-8% definitely make it a priority to pay it off ASAP. If it is above 5% it is still better to pay it off than to sit on your money. If it is much below 5%, pay it off as slowly as possible (minimum payment only) because there are risk-free ways to earn more interest on your money.
If you don't need the money in the short-term, consider a CD (Certificate of Deposit) which offers a fixed interest rate over a certain time. Often you can get a slightly higher rate by tying your money up for 3 months or 6 months or sometimes even longer. These are good options if you have a specific expenditure in your future, like perhaps moving or buying a home, but you know it won't happen until after a certain date.
Open a brokerage account. Brokerage accounts allow you to buy and sell investments such as stocks, mutual funds, or bonds, which include CD's from banks as well as treasury and municipal bonds and corporate bonds. You get more options for buying CD's (i.e. you can compare many different banks side-by-side, buy CD with the best rate, and manage multiple CD's within a single interface.) Most brokerage accounts have no fees and typically no or very low minimum investments. There is no reason not to have one if you have a few thousand dollars.
In a brokerage account, buy a money market mutual fund. Look for one with no load and no transaction fee, a high yield, and a low expense ratio, and a fixed share price of $1 per share. My two favorite are SWVXX and SNSXX. SWVXX has a higher yield (about 5.19%) whereas SNSXX has a lower yield (just over 5%) but is non-taxable on state income taxes, so SNSXX is a better choice if you have a high state tax rate, otherwise SWVXX is better.
Consider opening a Roth IRA if you haven't, and then, if able, contribute the maximum amount each year. You are allowed to make a contribution that counts towards the previous year, up until the tax filing deadline of the current year. So for example today it is Mar. 14th, 2024, so you can open a Roth IRA today and contribute the max ($6,500) for the 2023 year and also the max ($7,000) for 2024, for a total of $13,500. The main advantage of a Roth IRA is that the money in them can grow tax-free. Roth IRA's benefit anyone able to have one (the richest people are not allowed to contribute to them) and are especially important for people who are self-employed, change jobs a lot, or never work full-time, so they don't have a consistent employee-provided retirement plan.
Consider investing in stocks. Stocks are riskier (in that their price changes, and you can lose money when investing in them), but tend to have a higher yield than savings and money market accounts and funds. The simplest way to buy stocks is to buy an ETF (exchange-traded-fund). I recommend buying one that follows the S&P 500 and has a low expense ratio like SPY or VOO. Whatever you buy, reinvest the dividends and let it grow, contribute a little money every year so are putting in money even in years the market is down. On average you get about a 10% return in the market but it is unpredictable and you will lose in some years, but that's okay, you're not retiring for many decades and the money will have grown a lot by then.
There are options regardless of your risk profile. It is throwing your money away to let a lot of money sit in a checking account. At a bare minimum, go for a high-yield savings account, CD, or better yet get a brokerage account, put it in high-yield money market funds like SWVXX, shop around for CD's or other bonds with the highest rates, and if you are able to tolerate some risk and want a higher return, consider putting some money in more aggressive investments like stocks.
I am 100% for tax reform and other reform to curb the extreme concentration of wealth in the hands of a few, but it's also important to take your financial situation into your own hands. Get financially comfortable. Get a stake in the US economy. Empower yourself so you can live better and help your family, friends, and the causes you care about.
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talabib · 10 months
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Mastering the Art of Investing: Practical Strategies for Insightful Decision-Making
Key Point:
Making smart and insightful investment decisions is an attainable goal with the right strategies in place. By recognizing your limitations, managing emotions, seeking professional guidance, and aligning your investments with personal objectives, you can cultivate a robust and successful investment portfolio that stands the test of time.
Sound investment decisions are the bedrock of financial success. However, navigating the complex world of investing can be challenging, even for the most seasoned investors. This post explores practical strategies for making smart and insightful investment decisions, empowering you to grow your wealth with confidence and finesse.
Recognize the Limits of your Abilities
In both life and investing, it is crucial to acknowledge the boundaries of our expertise. Overestimating our abilities can lead to ill-advised decisions and, ultimately, financial losses. By cultivating humility and seeking external guidance when necessary, we can minimize risks and make more informed investment choices.
Manage Emotional Influence on Decision-Making
Emotions can significantly impact our ability to make rational decisions. To circumvent the sway of emotions, adopt a disciplined approach to investing, relying on data-driven analysis and long-term strategies rather than succumbing to impulsive reactions.
Leverage the Expertise of an Advisor
Engaging a professional financial advisor is a prudent investment decision. Their wealth of knowledge and experience can help you navigate market complexities and identify opportunities tailored to your financial goals, risk tolerance, and investment horizon.
Maintain Composure Amidst Market Volatility
Periods of market turbulence can incite panic among investors. However, it is essential to remain level-headed and maintain a long-term perspective during such times. Avoid making impulsive decisions based on short-term fluctuations and focus on your overarching financial objectives.
Assess Company Management Actions Over Rhetoric
When evaluating potential investments, examine the actions of a company's management rather than relying solely on their statements. This approach ensures a more accurate understanding of the organization's performance, financial health, and growth prospects.
Prioritize Value Over Glamour in Investment Selection
The most expensive investment options are not always the wisest choices. Focus on identifying value rather than being swayed by glamorous or high-priced options. This strategy promotes long-term financial growth and mitigates the risk of overpaying for underperforming assets.
Exercise Caution with Novel and Exotic Investments
While unique and exotic investment opportunities may appear enticing, approach them with caution. Ensure thorough research and due diligence before committing to such investments, as they may carry higher risks and potential pitfalls.
Align Investments with Personal Goals
Invest according to your individual objectives rather than adhering to generic rules or mimicking the choices of others. Personalized investment strategies are more likely to yield favorable results, as they account for your unique financial circumstances, risk appetite, and long-term aspirations.
Making smart and insightful investment decisions is an attainable goal with the right strategies in place. By recognizing your limitations, managing emotions, seeking professional guidance, and aligning your investments with personal objectives, you can cultivate a robust and successful investment portfolio that stands the test of time.
Action plan: Learn a few simple rules and ignore the rest of the advice you receive. 
It’s easy to become completely overwhelmed by the volume of advice available about investing. However, you don’t need to become an expert on the stock market in order to become a good investor. 
Just like an amateur poker player can go far if he simply learns to fold his worst hands and bet on his best ones, a novice investor can become very competent just by following a few simple rules. For example, he should learn not to overreact to dips in the market and make sure to purchase value stocks instead of glamour stocks. 
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bitchesgetriches · 3 months
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The FIRE Movement, Explained
Am I really writing about the FIRE movement? Seven years into running what is, ostensibly, a FIRE movement blog? Why yes, I am!
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Today, I’m explaining a concept so important to us—so central and foundational to every aspect of our lives—that we forgot to write about it. For years.
Keep reading.
If you found this helpful, consider joining our Patreon.
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freedomwithabe · 3 months
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dollar-and-sense · 9 months
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Mastering Personal Finance and Investing: Your Ultimate Guide to Financial Freedom
Introduction: Understanding the Importance of Personal Finance and Investing Personal Finance and Investing: Your Path to Financial Freedom Importance of Personal Finance and Investing for Wealth Creation The Basics of Personal Finance: Budgeting, Saving, and Debt Management Mastering the Basics: Budgeting, Saving, and Debt Management Budgeting Tips for Effective Personal Finance…
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inirbag15 · 4 months
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My low buy 2024 rules.
Green Light - buy when you run out
Yellow Light- when money is saved up or will need to replace
Red Light - non-negotiable not allowed
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dipnots · 1 year
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Steps to Building Wealth: A Guide to Achieving Financial Freedom
Becoming wealthy is a dream shared by many, but achieving it is not always easy. Building wealth takes time, patience, and a solid financial plan. Here are a few steps you can take to increase your chances of becoming wealthy: Create a budget: The first step to building wealth is understanding your income and expenses. Create a budget that allows you to save and invest a significant portion of…
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