[serious]ask me about personal finance

[L.B.D.D]

how can i make money online while working from home as a single mother

[lumphoboextreme]

Ok, so I used to make a lot of money at internet poker when that was a thing... but now I basically have to be a normal person with a job. Bad news is I have literally no credit cause I paid for everything straight up in cash. Plus a lot of better paying jobs will turn me away because I have no credit and that deems me irresponsible in their eyes. Is there like a quick fix for this? lmao

[Litodude]

show employers your grades and if your parents can't cosign for a line of credit, look with a local, small town credit company. they're usually more lenient toward the younger crowd with credit cards and give you like a $300 or $500 limit per month for the first few months/year.

[FoJaR]

so i'm thinking of starting a business








HAHAHA just kidding it is the last thing i will ever do

[Litodude]

i want to ><

[DotKritic]

Originally Posted by Litodude

show employers your grades and if your parents can't cosign for a line of credit, look with a local, small town credit company. they're usually more lenient toward the younger crowd with credit cards and give you like a $300 or $500 limit per month for the first few months/year.

Like a Secured Credit Card?

[devonin]

Do what I did: Move to a city with absolutely no particular prospects, get a job by just walking into a place with a help wanted sign and asking, and then get promoted twice in a year to be the general manager.

It's working great!

Just kidding, it's absolutely fucking terrifying, because what the fuck am I doing? I have a history degree, why am I in charge of this many zeros? Something is going to fail miserably

[L.B.D.D]

Very
Grave
Indeed

[Hateandhatred]

Originally Posted by Litodude

The pyramid scheme only works if you're on top.

That isn't what I asked, I was simply wondering if there was a way to externally leech from the "company's" growth itself rather than taking part in the investment scheme. Like if they had "investissor stocks", where you could get money from the number of people that got sucked in, as if they were property of the "company". That'd be fucking awesome!
Ps yes I'm playing dumbass, I'd have a real question but google did the job

[Reincarnate]

Hateandhatred: When it comes to pyramid schemes/multi-level marketing schemes/etc, the best answer is almost always "Avoid them entirely." The only real way you can reap any significant profit from a scam is to be at the head of it. If you're investing in it, odds are you're on the outside, and can probably expect to lose money in the long term. There are much better things to throw your money at. Most MLMs aren't traded publicly anyway.

[rushyrulz]

Originally Posted by Reincarnate

18. Never, ever co-sign a loan. Ever. Ever.

Please expand.

[PriestREA]

Originally Posted by kommisar

i'm going to buy a house because the market here is cheap and I don't live in America. it'll be purely for living reasons, I don't expect to use it as a means to retire (HAH)

housing market in Calgary is INSANE and houses are selling like hotcakes faster than they can be built. That is probably one of the few places using houses for profit is a good idea

I can confirm this. My dad has been buying and selling homes aggressively for the last year or so... it's made him a lot of money too

[DotKritic]

Originally Posted by rushyrulz

Please expand.

Reasons to not co-sign on a loan: Link

[Reincarnate]

Originally Posted by rushyrulz

Please expand.

Long story short, it's a lot of risk and downside in exchange for virtually zero upside.

[Tibbers]

I'm 16 wtf do I do

[Izzy]

Got my first paycheck today for 1 week of work totaling $505. What do I do?

[HolyBishopX]

Originally Posted by Reincarnate

Adding my own shit to this thread.

The thing about personal finance is that it's personal. The answers will differ for everyone since so much depends on timing, circumstances, goals, risk sensitivity, education, patience, rationality, emotion, utility, etc.

That being said there are usually some pretty good heuristics to live by. IMO:

32 amazing pieces of financial advice

Really good advice here. There are times I forget some of this stuff, too -- even though I was taught it in college. Literally copy pasting this into a Word document, and printing it out.

[Litodude]

Originally Posted by Izzy

Got my first paycheck today for 1 week of work totaling $505. What do I do?

eat, pay bills

[Reincarnate]

To those that invest in 401k's / Roth IRA's, what are your fund choices and why?

[ffr212]

What is the highest rate of interest growth I can milk out of my bank? I currently have an extremely low APY in my savings and want more because I'm greedy as fuck.