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  1. #80926
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    Ya, I'm seriously going to get back like $50 a year simply because I put my monthly bills on my credit card, instead of pulling directly from bank. I'm expecting to get a good $300-400 a year back from this, which is sadly more than most people I know have in savings.

    UMSM hit the nail on the head. I have sympathy for people who live paycheck to paycheck, i've been poor as shit before, but I know plenty of people who don't have to do that shit. I know soooo many people that are too lazy to cook, can't go 4 hours without buying a soda from the gas station, basically just constantly nickel and diming themselves a few bucks all day long. My coworker eats a taco johns breakfast burrito every morning. He'd save over a grand a year just buy cooking a few eggs with toast like I do. People think this is weird, but I put a peanut butter and jelly sandwich in the pouch of my hoodie/lunchbox when I go out to bars or skating/snowboarding. I fucking hate wasting money having other people cook me over-buttered, over-salted food. That shit adds up over time.

    Also, if you put $1,200 of saved money a year in an index fund for 10 years, you would on average have around $17,000.
    Last edited by igrindtwinkies; 08-10-2020 at 02:48 PM.
    skate or die g times

  2. #80927
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    lmao

  3. #80928

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    Quote Originally Posted by igrindtwinkies View Post
    People think this is weird, but I put a peanut butter and jelly sandwich in the pouch of my hoodie/lunchbox when I go out

  4. #80929

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    Quote Originally Posted by igrindtwinkies View Post
    Ya, I'm seriously going to get back like $50 a year simply because I put my monthly bills on my credit card, instead of pulling directly from bank. I'm expecting to get a good $300-400 a year back from this, which is sadly more than most people I know have in savings.

    UMSM hit the nail on the head. I have sympathy for people who live paycheck to paycheck, i've been poor as shit before, but I know plenty of people who don't have to do that shit. I know soooo many people that are too lazy to cook, can't go 4 hours without buying a soda from the gas station, basically just constantly nickel and diming themselves a few bucks all day long. My coworker eats a taco johns breakfast burrito every morning. He'd save over a grand a year just buy cooking a few eggs with toast like I do. People think this is weird, but I put a peanut butter and jelly sandwich in the pouch of my hoodie/lunchbox when I go out to bars or skating/snowboarding. I fucking hate wasting money having other people cook me over-buttered, over-salted food. That shit adds up over time.

    Also, if you put $1,200 of saved money a year in an index fund for 10 years, you would on average have around $17,000.
    Yeah I'm speaking mostly from experience. I used to be like that too, and never had savings or anything.

    While, now, $100 doesn't mean much to me in terms of surviving, I still remember several times a day how much $100 would have meant to me in the past and on one hand, i never want to return to that but on the other, it gives even the smallest amount of money meaning, and every $100 is an increment keeping me from being in that shitty spot like I was. unless I end up in the ER again, then I'm fucc'd

    but tbh taco johns every day is kinda justified
    Last edited by UrMomSkatesMongo; 08-10-2020 at 09:58 PM.

  5. #80930
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    Quote Originally Posted by cheese_wigger View Post
    2% cashback is 2 bucks for every 100. I know we all know how to math, just wanted to point out how inconsequential that is unless you're spending thousands on your card every month (which means you're probably buying more useless shit than you need to be, unless you use one card for all your living expenses). To me it's like people driving 10 miles away to a gas station where the gas is 5 cents cheaper per gallon, it's just obviously not worth it but you feel like you're saving.
    Still way better than nothing, especially if you don't go out of your way to use it. I'm going to ctrl v my rough weekly expenses budget then multiply by 0.02 to see how much I could make just by shifting expenses to it per month


    - Rent $335
    - Eating out/whatever/entertainment money $75
    - Incidentals $50
    - Groceries - $60

    - Fuel - $40
    - Gym $15

    - Electricity + Water - $20
    - Internet - $15
    - Phone - $7
    - Netflix - $5
    = $547 * 0.02 = $10.94 per week

    x 52 for the year = $568.88

    I would put my student loan repayment on credit if I could but it's a fortnightly withholding thing lol

    So half a grand for basically doing nothing. Say the annual fee for the card is $50 (if those exist in the US) - $518

    Plus add big ticket items onto it such as a TV, flights or whatever and you could accrue a lot more, and if you pay it off before the interest-free period ends, it's basically free money if you use it right/enough

    Interest on credit cards is basically an idiot tax

    I don't have a credit card as there aren't that many useful products out there for me at present but if one had 2% cashback you best believe I'd be heavily considering it.

    Put that $500 odd in your savings account (even if it's a shitty 1% yield, with inflation so low it's not so bad, in Aus it was like negative 1.9 last month lmao) or an ETF or micro investing app and you'll be good as gold.

    Last edited by Stookie; 08-11-2020 at 04:08 AM.
    Quote Originally Posted by Buddig View Post
    decide it - go for it - live it - just do it - fake it to you make it - if you can dream it, you can do it.
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    Skate, do strength training, eat healthy things, keep yuor mind healthy, open and clean, (don't fill it with bad news)
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    I want to enter college looking sexy as fuck for the ladies.

  6. #80931
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    Quote Originally Posted by Stookie View Post

    So half a grand for basically doing nothing. Say the annual fee for the card is $50 (if those exist in the US) - $518

    Plus add big ticket items onto it such as a TV, flights or whatever and you could accrue a lot more, and if you pay it off before the interest-free period ends, it's basically free money if you use it right/enough

    Interest on credit cards is basically an idiot tax

    I don't have a credit card as there aren't that many useful products out there for me at present but if one had 2% cashback you best believe I'd be heavily considering it.

    [/SIZE][/FONT][/COLOR]Put that $500 odd in your savings account (even if it's a shitty 1% yield, with inflation so low it's not so bad, in Aus it was like negative 1.9 last month lmao) or an ETF or micro investing app and you'll be good as gold.

    No yearly fee on this one. There are cards with much better perks if you want to pay a yearly fee, but I chose to keep this as simple as possible. Right now I'm in the process of saving up money to either move to Minneapolis or buy a house. Any little bit helps, so I get a little excited when I call my internet provider and can get a $12 a month discount.
    skate or die g times

  7. #80932

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    Quote Originally Posted by Stookie View Post
    Still way better than nothing, especially if you don't go out of your way to use it. I'm going to ctrl v my rough weekly expenses budget then multiply by 0.02 to see how much I could make just by shifting expenses to it per month


    - Rent $335
    - Eating out/whatever/entertainment money $75
    - Incidentals $50
    - Groceries - $60

    - Fuel - $40
    - Gym $15

    - Electricity + Water - $20
    - Internet - $15
    - Phone - $7
    - Netflix - $5
    = $547 * 0.02 = $10.94 per week

    x 52 for the year = $568.88

    I would put my student loan repayment on credit if I could but it's a fortnightly withholding thing lol

    So half a grand for basically doing nothing. Say the annual fee for the card is $50 (if those exist in the US) - $518

    Plus add big ticket items onto it such as a TV, flights or whatever and you could accrue a lot more, and if you pay it off before the interest-free period ends, it's basically free money if you use it right/enough

    Interest on credit cards is basically an idiot tax

    I don't have a credit card as there aren't that many useful products out there for me at present but if one had 2% cashback you best believe I'd be heavily considering it.

    Put that $500 odd in your savings account (even if it's a shitty 1% yield, with inflation so low it's not so bad, in Aus it was like negative 1.9 last month lmao) or an ETF or micro investing app and you'll be good as gold.

    A good idea to keep a few months worth of expenses in savings for emergencies, 1% isn't terrible at all. Underperforming the market and some loss to inflation but that's just the cost of security. Either way, miles better than 0.01%. Im currently doing a even three way split into my IRA/IBA/HYS until I max my IRA for 2020. IRA/IBA is shit I'm not going to touch (obviously for the IRA) in the near future (except when PCG makes me a millionaire), and savings in just the oh shit fund. Probably next month though I'm going to load up on cash savings in the event I can buy a house once I'm back in AZ. Should be more than doable, especially with an FHA loan but I still want my credit to go up a bit more

    I am a big fan of any app/bank that does the rounding investments (2.49 purchase, 51 to investment acct). It's the piggy bank / coin jar of the future. And coin jars have been a godsend in my life lol. Just forget about it and when you can't eat or afford gas, turns out I had $80 in coins in a drawer somewhere to get me by till next paycheck

    My financial perspective was certainly widened after walking into an awesome job like I did. My habits didn't change much at all, and the good ones I started even when I was broke are paying off massively now. A lot easier to see the benefits when you have more money to throw around but they are still there no matter the amount. Still hundreds of miles away from any "security" or "freedom" but at least I feel like I have my footing again
    Last edited by UrMomSkatesMongo; 08-11-2020 at 12:25 PM.

  8. #80933
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    You gonna rent me a room if you buy a house?
    skate or die g times

  9. #80934
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    I save about 20% of my paycheck, split between a micro investing app and a savings account. But still, it's not as much as I'd like. I am in a fairly comfortable salary range right now, but not where I have a lot of flexibility/feel like I have amazing cashflow
    Quote Originally Posted by Buddig View Post
    decide it - go for it - live it - just do it - fake it to you make it - if you can dream it, you can do it.
    Quote Originally Posted by Buddig View Post

    Skate, do strength training, eat healthy things, keep yuor mind healthy, open and clean, (don't fill it with bad news)
    Let the young people inspire you...
    / Henning
    Quote Originally Posted by CCCP View Post
    I want to enter college looking sexy as fuck for the ladies.

  10. #80935

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    Quote Originally Posted by igrindtwinkies View Post
    You gonna rent me a room if you buy a house?
    If you pay for it. No Taco John's down here tho

    In other news, I've been teaching myself lock picking and this building we're in is full of locked offices that nobody has a key for. Just unlocked me the CEO office and I'm stoked because it is now mine

  11. #80936
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    I'm down. AZ probably has real Mexican food anyways.
    skate or die g times

  12. #80937

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    yea but real mexican food and potato oles in the tacos of a six pack and a pound are two different worlds

  13. #80938

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    I have a fairly big sum (anywhere from 10-20 grand) in a 0.1% account. it's lame but I do get free withdrawals from it. I earn anywhere from $10-20 a month depending on how much I have in it. I should start looking at ways to invest this money or at least put it in a 1% which my current bank doesn't provide, but I'm lazy as fuck and soon will probably not have as much money due to tuition payments.

    On another note, for a loooong time I've been having issues typing text when I edit my post. Anyone else have this issue? I think it's been glitching like that for years, and I tried this on multiple computers.

  14. #80939

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    Quote Originally Posted by Tommyboy View Post
    I have a fairly big sum (anywhere from 10-20 grand) in a 0.1% account. it's lame but I do get free withdrawals from it. I earn anywhere from $10-20 a month depending on how much I have in it. I should start looking at ways to invest this money or at least put it in a 1% which my current bank doesn't provide, but I'm lazy as fuck and soon will probably not have as much money due to tuition payments.

    On another note, for a loooong time I've been having issues typing text when I edit my post. Anyone else have this issue? I think it's been glitching like that for years, and I tried this on multiple computers.
    it takes 30 seconds online and CA rates are much higher

  15. #80940
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    Just off the top of my head the cash rate is the same at 0.25% for both US and Canada, that said I don't know how much quantitative easing i.e. debt monetization is artificially lowering things further

    Anecdotally when I was looking at Canada's savins account rates out of interest they were pretty pathetic for the most part, at least out of the majors. Some challengers may have better rates
    Quote Originally Posted by Buddig View Post
    decide it - go for it - live it - just do it - fake it to you make it - if you can dream it, you can do it.
    Quote Originally Posted by Buddig View Post

    Skate, do strength training, eat healthy things, keep yuor mind healthy, open and clean, (don't fill it with bad news)
    Let the young people inspire you...
    / Henning
    Quote Originally Posted by CCCP View Post
    I want to enter college looking sexy as fuck for the ladies.

  16. #80941
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    Quote Originally Posted by UrMomSkatesMongo View Post
    yea but real mexican food and potato oles in the tacos of a six pack and a pound are two different worlds
    True. I will bring you some ole's on moving day(they're actually incredible cold).
    skate or die g times

  17. #80942

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    i think the last time i ate at taco johns actually was the first time i got high and threw up after half a taco

  18. #80943

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    The first time I went to a 'real' Mexican restaurant and had authentic mexican cuisine blew my mind. We don't have a lot of mexicans here so I pretty much went 19 years without having real mexican food. It's good shit, I haven't had mexican food in years but I always crave it when I think of the few times I did eat it.

  19. #80944
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    Quote Originally Posted by UrMomSkatesMongo View Post
    except the difference is literally putting in a CC number / swiping a CC or using a debit card

    You get money back on every purchase, whether it's 1, 100, 10000 dollars. Another way to look at it is you're saving that % on every purchase. the only consequences are using it when you can't afford it, thus succumbing to interest which, if you get a reasonable rate on (which requires good credit), isn't even necessarily a bad thing so long as you aren't buried by it -- interest paid can even become a tax write-off on large loans

    if you have $1000 in your checking account and a $1000 credit line, you're only losing if you don't use the credit. you're also losing if you keep your money in your checking account or a traditional bank saving account. High yield savings are maxing out at ~1% right now, whereas traditional bank savings accounts from chase/boa/etc are like, what, 0.01%? a lot of people that cant be bothered to invest but at least maintain savings are still losing massively by not getting a high APY account. the <1% makes a huge difference over time

    that mentality is why a lot of people, sans unexpected hardships or majorly stupid financial decisions, can't save / build wealth. major changes, big breakthroughs, etc. are all exceptional. the reality is making a lot of tiny changes that add up, e.g., the 1.01 vs 0.99 rule

    "whats the point of cooking my own food if I only save one dollar on each meal"
    "whats the point of getting a $15 coffee maker if a starbucks coffee is only $6"
    "the generic brand isnt the same as the name brand"

    all stupid, all types of things said by people that see no point in small percentages.

    get a credit card, use it responsibly (the step that many people fail at thus giving credit -rep), and on top of saving money, you'll be earning points for other things depending on the card. if I opened a mariott card today, the bonuses I got from that plus the points I've already earned would equal nearly a month of free stays at 3-star hotels, or a few nights free in $1000+ rooms if I ever feel the need to host a penthouse orgy. there are people that make it their life mission to live for free by credit card churning - it's not only the cash back. and on top of all that, you'll be building credit, getting lower interest rates when you inevitably need to borrow money, etc. etc. it's not inconsequential at all. it's free money, and just like other things that "pay you back" like dividends, can be reinvested and compounded which is slow to start but becomes massive in the long run.

    Most things you're going to use a CC for are liabilities/necessities, and minimizing the cost of those is always a good thing within reasonable comfort
    These are all good points, assuming you're responsible with money (it seems like you are - I'm definitely not). There's still something that throws me off about the whole argument though, like again mostly the idea that you could easily save more by buying less energy drinks from 7-11 or whatever. In another way it's the same thing as coupons, would you buy the thing the coupon is for if you didn't have a coupon? Encouraging spending for no reason. Comps are always nice, agreed, but when "working toward" them makes you spend more money, is it worth it? Also if I had to travel for business a lot, I'd def have all the hotel chain loyalty programs. That actually is a no-brainer.

    edit: around here you aren't going to find rent for less than $800 for a studio-ish place, and also I miss Del Taco (for the uninitiated it's like Taco Bell but better but also regionally limited in the US)
    Last edited by cheese_wigger; 08-13-2020 at 10:23 PM. Reason: I used to hate South Park but now I kinda like it

  20. #80945

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    it's not encouraging spending at all, it's how you spend. just because you get 2-7% back or whatever it may be doesn't mean you should spend more. likewise, just because you get 100k in credit doesnt mean you should just go buy a corvette.

    its taking your normal spending, ideally smart spending, and giving you even more back

    if I like to rub my body in peanut butter every night before bed, I wouldn't go to whole foods and spend $20 on a 4oz jar - I'd probably go to costco and get two 22oz jars for $8 and use a credit card to give me % back off that, as well as a coupon if i have it

    if I was really adamant about having free range cruelty free peanuts, I'd just have to get the fuck over that just like people need to get the fuck over needless spending in general because yes, credit cards are a death sentence if you arent smart with them
    Last edited by UrMomSkatesMongo; 08-13-2020 at 10:50 PM. Reason: dont give a fuck if i cut my arm bleeding dundnduudndun

  21. #80946

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    savings... this is my last resort

  22. #80947
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    i wonder which one of us is gonna have the last post on here

  23. #80948

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    an bot

  24. #80949
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    i meant us humans

  25. #80950
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    It's been 6 years and 1 day since I joined

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