> I have a Traditional 401k instead of a Roth
> Credit cards are a scam, you just need a checking account and a debit card
> I don't need a degree, I'm just going to learn a trade
> I'm just living with my parents until I can afford a house
> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
>>1286374
>I don't need a degree, I'm just going to learn a trade
>I'm just living with my parents until I can afford a house
So fucking true
If you aren't out of your parents house by 19, you're a neckbeard/poorfag.
>>1286374
I don't know what a 401 is even-though someone explained it to me once.
Why have a credit card? You pay more. Also I have money to buy what I want. I've never understood them.
I have one GCSE. Look it up.
I'm living with my parents because they are rich.
I have two cars.
>>1286387
I've moved out and back in twice. I pay my way £100 a week.
>>1286391
>I don't know what a 401 is
delayed taxed state sponsored investment scheme
>Why have a credit card? You pay more.
only if you are poor if you are rich you pay less
> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
that's actually not always unreasonable.
http://www.mrmoneymustache.com/2011/11/28/new-cars-and-auto-financing-stupid-or-sensible/
>>1286387
> I don't need a degree, I'm just going to learn a trade
to me it was more like: i already know a trade do i even need a degree? turns out you don't.
>Why have a credit card? You pay more.
If you are paying more by using a credit card, then you are using them wrong.
>20 y/o
>Live with parents rent free
>Save 70 percent of my paycheck because no living expenses
Oh yeah I feel really poor, whatever shall I do?
>>1286374
I'm poor as fuck and I don't know anyone that says these things. All the poor people around here are >muh bankers
I don't think Credit cards are a scam, I just assumed I couldn't afford one.
>>1286387
Hello, boomer.
People moved out early not only because of that, but because america is fucking huge and the still-rising "self-made rich" class wasn't as large or greedy yet. In no other 1st world country was that the norm; it has entered the corrective state.
First quote doesn't deserve response because it's sheer ignorance.
>>1286391
You pay more if you're poor. The credit system was made to benefit people with more wealth, mainly due to the time value of money: put simply, cash now is worth more than cash later. It was never meant as a method to buy things you can't presently afford.
As for car ownership, of course buying the most run-down cheap pos you can get—and expecting to use it long-term—isn't a good idea, but the opposite of that isn't buying what's fresh out of the factory. Buying a modest car with some miles on it and maintaining it well is the best financial option in the long run.
>>1286504
>You pay more if you're poor.
NO, you pay more because you are lazy and impatient.
>>1286504
>First quote doesn't deserve response because it's sheer ignorance.
i wouldn't say ignorance, he is british and the 401k is american. most brits won't know what it is. we have something similar, the ISA but it isn't totally comparable as it is just a tax-free limited size investment/saving scheme.
>>1286601
I meant the line about learning trades. Any cursory search on the subject will tell you the skilled trade shortage is real, and the mass vacancy of upcoming retirees will need to be filled somehow. And on /biz/, it should be common knowledge that the more income streams you have, the better. Every 100k+ earner I personally know has at least one skill they can make money with on their own terms, or have a hobby they can profit from.
>>1286374
>I dont get my daily news from ScandinaviaBrah's blog
Made 23% (before taxes) this week from the blog
>>1286617
Post link please
>>1286374
> I have a Traditional 401k instead of a Roth
Sure you mean Traditional IRA.
Traditional IRA allows you to pull money out at any given time for 60 days. For example, I need the amount that's in my TIRA in order to invest in an up-coming project that will give me a 30% return. You're unable to do that with a Roth and you will receive a tax break on an TIRA.
It's like you're bashing someone using OSx while you use Windows - it's all about personal preference.
> Credit cards are a scam, you just need a checking account and a debit card
On a lot of debit cards you can get cash back or use the service through your bank to order things online in turn for cash back. But over all, credit cards are good for cash back.
> I don't need a degree, I'm just going to learn a trade
Trades right now are actually in high demand.
> I'm just living with my parents until I can afford a house
Not sure what's wrong with this, especially in this day-in-age.
> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
With the amount, you'd be able to get a long-lasting used car with low mileage and with little maintenance. Newer cars you'll be getting grounded with full-coverage insurance and depending on who you are - a high interest rate.
I'm currently financing a car at 3% and I don't like my $100 month insurance with my $272 car-payment. I could easily get a used Vic for $4k, $35 insurance, and no car payment.
You're stupid to believe new cars are superior to used when factoring in finances.
>>1286374
>> I have a Traditional 401k instead of a Roth
I've worked in 401ks and other retirement plans for 14 years, so I've got a bit of a beef with this one. First of all, it's the plan sponsor (the employer) that decides whether Roth is even available in the plan. Second, most of the highly compensated employees I see in nondiscrimination testing choose traditional deferrals when they do have the choice. Getting an immediate tax break is more important than long term for a lot of the richest because they don't even get distributions until they have to at age 70.5. The percentage of these choosing traditional goes nearly to 100 as they close in on the 401a17 compensation limit. Finally, having a diverse base of different types of tax advantaged accounts is another way to lessen risk just like diversifying your investments.
I do agree Roth is probably the better choice for most younger members of the workforce, but hate blanket statements such as yours.
>>1286496
>Moral advocate
Are you going to return on the investments your parents made in you?
Dont forget the sacrifices they made for you anon.
>>1286692
>Trades right now are actually in high demand.
First off, do you always buy when things are in high demand?
Secondly, there are hidden costs to working in most trades, like a lack of upward mobility, lack of versatility, and wear and tear on the worker's own body. Some men are surgeons well past senior citizen status. Not so much pipefitters and electricians.
>You're stupid to believe new cars are superior to used when factoring in finances.
You also have to factor in time and money lost when a beater car malfunctions. This is part of the cost of ownership. If I buy a 2-year old Corolla and it never gives me any trouble for the five years I hold it, that cost of ownership is pretty low, not to mention that a Crown Vic drinks a fuckton more fuel than a newish Corolla.
>im an entrepreneur !!!
>my internet website/youtuber/kickstarter idea would totaly work anon
>work in college ? just have fun anon you don't need to work now
>i don't need to leave my parants house even tho i can afford it if i wageslaved, why waste alot of money on rent xD
>i NEED to buy the latest iPhone 6s for 600$ or else how i can facetime with my friends and take selfies :(
>i want to get married and have 4 children because the sitcome i saw told me thats how normal looks like :)
>also i don't want a prenub because i love my wife and her son
how those fucker gonna survive after they finish college is beyond me
>>1286496
>you will never have sex
>you will be alone forever
>you will never be a fucking man
getting your own place and calling it home is the best feeling a man can hope for
>>1286716
I have a mobile phone repair business. The amount of people who are on welfare with expensive 700$ phones is unbelievable. They can't save 500 a year but they do have the latest smartphones. baka conspicious consumption is a cancer
>>1286727
how much you charge them ?
>>1286374
ITT: Unhappy lardies complain about normies
>>1286729
iPhones have 50-70$ on top of the cost a replacement screen. It takes about 20-30 minutes to repair an iPhone. That covers employement and other costs.
So what's the advantage of getting a credit card exactly?
>>1286744
Cash back
>>1286740
good .. bleed those fucker dry, they deserve it
>>1286387
>t. Tradeslave trying to justify paying rent.
Only reason moving out is for work abroad
>>1286748
where I live, I have that with my debit card
The only time I need to use a credit card is when I'm booking accommodation or flights in another country or I need to buy some shit from some random chink website
>>1286753
I had wellfare customers who had 5 iPhones, all broken. Every member of the family had one, the 7, 8 and 9 year old, ... I bet even the dog had one. They were working but in shit jobs (cleaning or something). They probably worked 3 weeks of their life to buy a shitty phone they were going to break half a year later.
>>1286721
>he thinks he needs his own place to get bitches
Cmon son. Step your game up.
>>1286758
To be fair lad they most likely stole those phones or paid for it with drug money. You really can't afford that many iPhones on welfare checks alone.
>>1286374
>never rent, always buy your house
>paying down your mortgage is like paying yourself while renting is paying to someone
Fucking delusional idiots
>>1286713
Parents have absolutely no savings because they spent every penny raising my siblings and I because they weren't prepared to have children.
If my siblings and I fail that means my parents fail in the long term as well. They don't do this out of the kindness of their heart, they don't want to throw me on the streets and risk losing a portion of their retirement.
>>1286767
>never rent
I don't see a problem with this, I prefer ownership to borrowing.
>>1286771
you have to take into consideration the opportunity cost of not being able to invest the deposit elsewhere (at a higher rate of return), also taxes and fees. Buying houses can seem like a dream in a good market where the price doubles every 7 years, but if the market crashes you're stuck with a huge liability. Houses are among the least liquid assets
>>1286759
it aint about the bitchs ,, you can fuck any hooker on the street,its about your fucking dignity as man and your own selfworth
since the dawn of mankind a man does 3 things:
1- go hunt and get food (Getting a job in today standered)
2- build his hut or live in a cave (mortgage or rent)
3- fuck his wife after having a nice meal (porn/gf/wife)
you will never learn how to fly if you never left the nest anon
>>1286374
>I have a Traditional 401k instead of a Roth
Is the argument here that you can't withdraw your money before retiring? If so, that's a pretty weak one since it's tax-free money. I agree that if that's your ONLY investment then you have pretty average life goals, but if you mean it's stupid to have in general I'd like to hear the reasoning.
>I don't need a degree, I'm just going to learn a trade
I can't see the logic in this. When it comes to acquiring the capital to start your own ventures, I don't see a college degree being the best option. Most people I know with degrees hover between the 40-80k range. That's not that much different from most trades in America if I'm not mistaken. And with a trade you're also not 20k-100k in debt and are likely making money WHILE in school. Any scholarships that will actually cover more than a semester's worth of books are limited and only go to the best and brightest which excludes, by definition, the majority of people.
>I'm just living with my parents until I can afford a house.
If you don't have money to start off, I see no problems with this. That said, I live on my own.
Agree with the other two though.
>>1286786
Do you know what renting costs in yuropoor? You almost pay as much rent as mortgage here.
>>1286499
You can afford it if you don't spend more than you have in cash. In fact you'll wind up saving money since you'll get 1-2% back on all your purchases. Now granted if you're only spending ~500 dollars a month that's not much, but it's still better than nothing, no?
>>1286787
>2- build his hut or live in a cave (mortgage or rent)
But people did this communally. You didn't just run away from your family and build a hut in the middle of nowhere because you're a special snowflake.
>1- go hunt and get food (Getting a job in today standered)
People did that as teams, not with one caveman making the others hunt and give him most of the meat.
>>1286703
>I do agree Roth is probably the better choice for most younger members of the workforce
Why do you say this? I'm about to be 23 and have been working for a year and have the option to place my money in a Roth but have been using the 401k option.
>>1286787
>Wants me to lose out on money because he follows the habitual behavior of cave people
I think it's funny how at the end of everything the goal is nothing tangible. I'm certainly not going to live paycheck to paycheck like every other poorfag just to put on a facade of manhood. That's the stupidest shit I've ever heard.
>>1286374
> Nocoiners on suicide watch
> X is a scam.
> I don't have any credit
> Senpai
>>1286767
Aside from mobility, assuming you buy a house in your price range and in an area where housing prices aren't going to devalue in a couple years, what argument is the for renting? If I got a 100-150k house I'd be paying a little less than I pay now in rent and utilities just in mortgage payment and utilities (with property taxes and water/sewage and garbage factored in as well).
The only real negative I can see is that repairs to the house come out of your pocket, but that's largely offset by the return on your investment when you sell the house, no?
> needing a degree
This board is garbage.
>>1286848
>what argument is the for renting?
for me the main argument is buying a house and renting it out would not be profitable. so that means renting is profitable.
also the risks of ownership. anything can happen that renders your home worthless overnight, if you rent you just move and the landlord gets fucked if you own you get fucked.
>>1286716
> those people who say they are an entrepreneur because either a) they are an idea guy b) they sell stuff on etsy
>>1286800
2- then get a house near your parants no one told you to go to the desert
1- then make your own startup, no one telling you not to go and hunt , but keep fucking hunting and dont leach over your dads and mom hunt like a fucking child
>>1286803
>whats a metaphor
i really hope your parants get angry and kick you out, then you will realize living paycheck to paycheck and saving untill you had enough and open your own business is better then living with your parants as a disgraced manchild who is "saving money" while in fact you save nothing
>>1286848
> aside from mobility
This is a much more important benefit that I don't you give enough credit to.
> area where houses won't devalue
> 100k
Where do you live?
Where I'm from you could barely afford to live in run down neighborhoods that would be hard to re sell at that price point.
>>1286387
What if I'm set to inherit my parent's house after they pass away and live with them until they kick the bucket? My parents seem to want me to stay and take care of them in old age with my fiancé and in exchange I get everything from them when they pass away.
You're just set to become a poorfag of pride is more important to you than assets you get like inheritance.
>>1286714
Even though the cost you put into a new car is about 3k a year, that's enough for any repairs needed on the used car. Shet, that's enough for a new engine or transmission each year.
>>1286852
>anything can happen that renders your home worthless overnight
>anything
cant argue with that logic
anything can happen to anything at anytime rendering it worthless
yes, yes it can.. lmfao
>>1286904
Wait, you think they'll automatically slap a $3 fee on the consumers end when you use a credit card?
I don't know how credit cards work out in the UK, but in America, I'll use a card like my Citi Double Cash and get 2% cash back on any and all purchases I make on it. I'll also get 5% cash back when I pay my parents $500 cable, cell phone, and internet bill (that they cut me a check for) when I use my Chase Ink Cash card, which adds up to a decent amount of cash back by itself
I then pay off the bills in full every month so I don't accumulate any interest, people always ask me about the interest rates on my cards, but I honestly don't know because I don't ever accumulate interest and don't ever plan to
>>1286904
>There is always a charge on using a credit card.
What? Is it really that fucked up in Bongland? Here in the US, most credit-cards have no fees attached. Some do, but you're an idiot to take it if you're not wealthy enough that the rewards wind up outweighing the fees. Most credit-cards have no annual fees and only "charge extra" if you don't pay off the card at the end of the month when your statement comes. Most cards have 1-2% and some store cards will go up to 5%.
That said, I've seen some VENUES that charge an extra 3% if you use card, but they're usually places where prices are low and using cash isn't a problem.
>>1287022
This guy's spot on. Card I use for everyday expenses has some outrageous 20% interest rate on it since I got it straight out of college. Doesn't really matter since I get 2% back every month and don't rack up more than I have in cash.
>>1286374
Lol these aren't the things actual poor people say. This is what ACTUAL poorcucks say:
>Upper-class anon here
>Made 200k last year
>I own a yacht
>I used to work for Goldman Sachs, BlackRock, and other top P/E firms before starting my own hedgefund
>I grew up Zurich, lived in Paris, currently in London near Buckingham Palace
>Anyone who doesn't earn 6fig per month is a poorcuck.
>Currently managing three portfolios, drive a mercedes, and dating a model.
^These are all things or versions of things I have seen poor people write on /biz/ over the last year. Theres more but I can't remember atm.
>>1286692
>it's all about personal preference
And some preferences are better than others.
>>1286714
>do you always buy when things are in high demand?
Thanks for the laugh.
>>1286716
Finance and economics should be required learning from grade 1. It's even worse now that physical cash is becoming more and more rare. I like this tedx on the topic https://www.youtube.com/watch?v=_VB39Jo8mAQ
>>1286787
None of your or the rest of the trolls' moral lashings are going to change the math; that instantly marks you as the loser of an argument. Comparing 2016man to a caveman shows the real lack of dignity.
>>1286961
You're not thinking long term and not considering opportunity cost, which is as much a life principle as an economic one. Those two are the biggest drainers of money on earth.
Long version: https://en.wikipedia.org/wiki/Opportunity_cost https://en.wikipedia.org/wiki/Time_value_of_money
Short version: you're not paying 3 extra, you're only paying 3. That leaves the cash you would have spent open for use on other (gainful) things, leaving you with a smaller loss at the end.
Say you start with $100. You spend $30 on the meal now and end up with $70—a $30 loss, the debit result. Intead, you can use credit, spend that $30 on something that will give you $40 (godlike returns, but bear with me), then pay the $33 debt when the bill comes. This leaves you with $77—a $23 loss instead, all thanks to credit.
If they're tacking you for each individual purchase, that's just a shitty card that needs to be dropped. Any decent card will give you a bit of cash back; "only" a few bucks, but the above example shows how meaningful those few bucks really are. This mindset applies to all sorts of situations and is some of the key foundations of handling money. >>1286786 >>1286795 >>1286852 >>1286863
But it's just a preference.
>>1287022
It's actually bad to pay off the card in full. You only gain credit score by keeping a smallish debt there. Spreading it out across multiple cards is the optimal way to do it.
>>1287042
Isn't your score calculated via the credit card statement though or am I retarded?
If so, paying it off in full after your statement's been released for that month isn't really a bad idea.
>>1287042
are you retarded or something
>>1286801
It's a matter of faith about tax rate now vs the future. If you're making less now than when you take withdrawals from your retirement plan, or you think tax rates will go up across the board anyways (assuming Roth benefit isn't just thrown away) you'll benefit more from tax free growth/withdrawals.
>>1287046
>>1287050
I shouldn't say ONLY, but yes, retarded.
Credit-worthiness is a proof of your ability to make repeated payments on a debt. No debt, no proof.
Actually, google says "An assessment of the likelihood that a borrower will default on his or her debt obligations. It is based upon factors, such as his/her history of repayment and credit score." The credit system is designed to handle people who can't pay. The rich subsidise those who default, and when they offer a payout or take you to court and seize assets, that's 100% profit for them. Hence "predatory loans" and the housing "crisis." (It doesn't work when nobody can pay.)
>>1286374
> I don't need a degree, I'm just going to learn a trade
I know a doctor.
He wishes he had done HVAC instead and went on to own an HVAC company.
The money a good HVAC company owner can make is fucking unreal.
Like $500,000 - $1,000,000 a year.
>>1287042
This isn't true
>>1287069
Ok you're wrong, but I used to be confused about this too
So what happens is my 4 credit cards all have statement dates every month. On those dates my credit card companies will send me credit card statements with the current balance and minimum payment due along with the itemized credit card activity for the month. The credit card companies will also report my current credit card balances for each card every month to the credit bureaus, and they'll use it to calculate my credit score which can change all of the time
After I get my statements, I'll have a 30 day grace period to pay at least the minimum payment, after 30 days, if I still have a balance on my card they'll slap a 20% interest on whatever the balance is then
But if I pay off the entire balance, I accumulate no interest, gain money because of the cash back, and have a good credit score because the credit bureaus see that I have balances and activity on my cards and pay them off
>>1286744
Stoozing with 0% interest free periods look it up on money saving expert (Uk)
> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
I thought this was things poor people say and not retards.
I bought a car for 600$ and it's lasted me 4 years already, only paid for new tires and oil changes. Just learn how to look for cars.
> I'm just living with my parents until I can afford a house
>moving out and wasting thousands on expenses is a good thing
>I save X% of my paycheck every month.
>I live in the surburbs and drive 1 hour to work every day.
>credit cards? No thanks. Debt is evil.
>I use Verizon because they give me a free phone every two years.
>I just bought my wife's son an epic gaming rig at Best Buy. They even set it up with Geek Squad for only $100!
>>1286714
Always exceptions, my man.
I'm an Elevator Constructor in a large city. Most Journeyman in Construction these days make $150k+, Foreman = $200k+ (take home truck, parking on the company. add a couple grand to that 200 figure too)
I've heard of men on service routes pulling in $300k+ (on call 24/7 and probably worked every single day).
And most men work in the trades well in their 60's -at least the one I'm in. Why?
A) Just like most things in life when you are an expert in your field and have done it for 30 years there's a ton of perks -no BS, walk away and go work for someone else if you don't like boss/etc, not lifting heavy shit all day
B) To get the fuck away from their wifes.
I have an exit plan, however. Stacking away as much cash as I can and hope to punch out in my early 50's. Most guys in the trades are bad with asset allocation, but I like to come here and other places to learn about this stuff.
>>1287094
>20%
Goddamn that's high. 13-14 is what I usually see.
So paying in full after getting statements doesn't hurt utilization ratio? I'll have to try that for a bit. Thanks for the tip.
>>1287150
Yep just pay off the entire bill immediately after you get the statement, you won't pay any interest and you'll make money with the cashback if that's the type of card you have
Also I just checked, all but one of my cards currently have 0% interest promotional periods (that I ignore), but when those end, my interest rates will be 16.49%, 19.99%, 21.24%, and 23.24%
Rewards cards usually have higher interest rates, it also doesn't help that I'm young and I don't have much credit history, so they can attempt to screw me for that by slapping high interest rates on my cards
>>1287173
Ah, that explains it. 20% and up is usually what you get for cash advances (which no one should ever do).
Mine range from 10.49% to 21.49%, with 25.24% on advances, but you probably have better rewards.
>>1286744
>Cash back deals and you can leave your money in your savings acquiring interest (Mines calculated daily)
Things rich people say/do/believe
Tell me what do rich people say, do and believe?
>>1286787
Holy shit learn how to write you illiterate fuck
>>1287227
>savings account
>acquiring interest
good goyim
This whole thread is just an individual's perspective. Like really, almost 75% of you in here are living in a wealthy environment. Talking about America, you are probably right, but reflection upon third world countries, you're posts are mostly likely limited.
>>1286485
It doesnt matter how much money you make a credit card is always more beneficial than a debit card. Most people are just retards and buy things they dont have the money for in the first place.
>>1287150
My card is 28% but I could have a 200% interest rate and it wouldnt fucking matter as long as you pay your monthly balance on time.
Reminds me of when i hear people talk on the radio about how bad credit cards are and im just
>stfu you stupid bitch you have no idea wtf you're talking about.
I'm 42 and have never paid a dime of interest on a credit card my whole life. I stay free in hotels and fly all over the world on points from credit cards - fuck you poorfags that maintain a balance on your visa. You are being fucked in the ass and you are making a minimum monthly payment while doing it.
>>1286904
usually it is a merchant fee charged from the CC company to the establishment. if you go for a meal, the restaurant have included the merchant fee in their pricing, just like every other cost. it shouldn't be added on top, although that does happen on some online vendors and also with AmEx as their merchant fee is much higher.
If you pay with a Debit Card, their is still a fee charged to the merchant from the bank, but this is usually a fixed monthly line rental for the card-console rather than a transaction fee so it would impossible to say what the cost per transaction is.
>>1287370
They don't post images like that I'm pretty sure
>>1286374
>> Credit cards are a scam, you just need a checking account and a debit card
they are a scam you fucking kike.
>>1287514
I save 2% with a credit card vs debit card
That adds up over time.
Stay plebeian.
>>1287022
>>1287023
This >>1287474
Sorry yes it's a merchant fee.
But some or most places I phone up or use my debit card always ask "are you paying with credit or debit, there's a £2 charge if using credit" or a % of the payment.
Yes it is that fucked up in the UK.
But yes there are cards where you get cash back and rewards.
I don't fully understand your last sentence. But I have never been charger or had any hidden charge on a debit transaction.
Also if you take money out from an ATM with a credit card they charge you 2%.
>>1287523
Country are you in? Guess it aint the UK.
There is always a group of people in my town every weekend trying to get you to sign up for credit cards usualy with stupidly high intrest, like 39%
I agree to sometimes, then when they have sold it to me after 10 minutes of talking shit, they ask for my details, they get everything, until they ask for my home number, which I never give out, "sorry sir we can't compete this without a home number"
"oh well" and walk off.
They are a scam for poor people I agree with that.
They might be good for better of people in the black.
Can I have a balance of £25 on a credit card?
A single with an income of 1k a month is hardly what I'd consider poor. Probably because I'm rather happy and don't plan on marrying, having a partner or getting children.
Not saying that plan cannot change, but I'm happy for now.
>>1287077
Agree.. I always pay my card off before the end of the month and my score is over 815
>>1286794
>You almost pay as much rent as mortgage here.
exactly and you have to spend on your home as much as the price again in 20 years
so if you rent you pay only half as much and you get no equity.
so renting is not superior and not inferior unless the price moves from the ratio. but ownership is more risky than renting that one is for sure.
>>1286767
renting is one of the most retarded things you can do famelam. Only reason not to buy is if you are only staying for less than 4 years and even then you might just rent the house out when you leave.
>>1287707
I live with my parents and pay £100 a week. UK.
They do not have a mortgage.
Last I looked at my farther account it had £427,443 in it, my mothers (shows up on website because shared account) £19,300.
>>1286374
>I have a Traditional 401k instead of a Roth
Why not both?
I'd be crazy not to take advantage of a 100% return from employer matching.
>>1286374
>It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
Nah, you never know when that car is going to cost you thousands to keep safely on the road.
I'm done with that, and I lease now.
I know exactly what I pay every single month, and pretty much every single thing is covered between warranties and full comprehensive insurance.
No surprise costs, and I get to drive luxury cars for a much cheaper monthly payment.
I'll never own a car without a full warranty again.
>>1286755
>Only reason moving out is for work abroad
Unless you consider another city in your country 'abroad', this is simply stupid.
My parents life in a small town where there is few tech jobs.
It'd be a disservice to my career to try to build it there, so I moved to a reasonably close metro area.
>>1286374
>find cheap easy to fix cars
>fix and sell for a much higher price
being a mechanic is great, it's like 2 weeks of work for at least 1k profit
>>1287679
>A single with an income of 1k a month is hardly what I'd consider poor
That's very, very poor, depending on what country you're in.
In the US, that's simply not enough to get by unless you live in the most remote tiny market community.
>>1286387
>Out of your parents house at 19
Did you drop out of school at 13 to work in to coal mines as well, grandpa?
>>1286787
Women are the worst investment in the world
>>1287792
It does bring a lot of happiness into your life, and sex too. But you're right, it's basically throwing your money away.
>>1286387
What if I'll be at Uni by then?
>>1287676
Canada
As I said in an earlier comment, the interest rate on a CC doesnt matter because it only affects you if you don't pay your bill on time. What's so different about how CCs work in the UK compared to everywhere else?
>Can I have a balance of £25 on a credit card?
Im not sure what you mean? you want that to be your max?
>>1287760
Here Leasing and buying seems to be the same monthly payment price. Only difference is you lose your lease after 3-5 years and if you financed you get to keep paying the monthly payment for an additional 2 years and keep the car.
>>1287819
No I mean;
a CC is an account
can I put £25,000 into the account and spend that using my card?
It seems the main diffrence is we get charged for using it here in the UK either £2 or a %, and we get charged for taking money of of an ATM machine.
If I want to take out £200 and they charge me 2% (£4) how is that good for me?
>>1287821
>Here Leasing and buying seems to be the same monthly payment price.
Where is that?
In nearly all cases, leasing is much cheaper than buying (per month), unless you have a retarded finance term over like 6 years.
I'm on a 3 year lease with 18,000 miles per year (way more than enough) with a monthly payment that should swap me out within 25 months based on a very conservative residual.
I'll likely have this car for only a little over 2 years and then swap out for another new one. Plus, Audi's warranty is pretty awesome, includes hotel/food stipends if you break down away from home, free loaners, etc.
My monthly payment is less than a 60-month finance payment on a mid-range Civic or Camry.
Also, most affordable cars lose their bumper-to-bumper warranty after 3 years, so fuck that.
>>1287825
lmao you get charged? Thats retarded. Here in North america its the person selling that takes the hit. The price is the same whether I pay cash, use debit or a credit card. They usually get charged 3% of purchase for letting people us a CC and then I get 1-2% and the credit card company makes 1%. The rest of the credit card companies profits come from people not paying their bills on time.
I also never use an ATM because I just swipe my credit card for everything
>>1287676
Why is asking for your address your tipping point to make you think it's a scam? Of course they need your address in case you don't pay them back and they need to collect.
>>1287837
Canada, I did the math once on a Subaru wrx sti
I could buy it and payments came to 45-50 grand assuming 0 down
or
I could lease and pay 30k(3 years of payments) and give the car back after 3 years.
Would you not be better off just buying the car and then selling it in 3 years? You wouldnt lose 3/5ths of the price of the car in 3 years if you bought it. Im not even counting all the extra fees(of leasing) if you go over the mileage limits and stuff.
>>1287785
It's enough to live a comfortable single life in Germany.
>>1287845
depends on how much you use the car.
most cars have 200k miles in them roughly.
if you spend that in 3 years then lease by all means, if you go 30k miles in 3 years any car can last you half a lifetime better buy it.
>>1287850
Leasing here in canada usually has a small limit on miles driven, wouldnt be surprised if it was only 10-15k a year before extra fees kick in.
>>1287852
no wonder, there is your answer then.
but any car technician will easily roll the counter back, not sure if they can prove it by checking the cylinders if they take the motor apart.
>>1286795
Well, in reality the banks are charging the merchants a fee to use their CC service and the merchants are passing that fee on to you, the customer. So yes, its better than nothing but if no one used cards the banks would make less money/ have less power and the cost of goods would be slightly cheaper.
>>1287845
>Would you not be better off just buying the car and then selling it in 3 years?
If you paid 30k over 3 years on a $45k car, that's assuming a residual of 15k resale after 3 years, which seems insanely low for that car. I would estimate about $24,000 in 3 years on that WRX STI. If for some reason your residual and payments were set at the low number, you could easily just buy it below market price at that residual value at the end of the lease
You'll notice in the image that I did not include sales tax on the lease side. When I chain leases among the same company, I do not pay TT&L on subsequent leases. In a few months, I will call my lease agent, he'll bring me a new car to my house, and I hand him the keys to my current one.
Typically, when you finance you don't actually pay at the rate of depreciation, yet your payments are still higher because you're paying off the entire sale price of the car, rather than just the depreciation.
I did forget to mention that I lease ~5,000 mile vehicles that have a good chunk of the first years' depreciation shaved off.
I'm not saying that leasing is necessarily cheaper over a long period of time, but at the end of the day, I've got a consistent low payment and I'm always driving something nice and reasonably new.
It works for me.
>>1287849
I'm going to Germany in a month or so, around Nuremburg.
How expensive is general entertainment, specifically restaurants and pubs?
I'm coming from the US, so I'm a bit concerned that my dollar won't go very far in Germany.
>>1287869
Oh, and here's the other thing: you can take that $200 in this mock-up scenario and invest it, which means after the first year you'll have at the very least put $2400 away, and hopefully you can put that money to use and see some returns on it.
This is one of the things that helps to balance out the extra-over-time you may pay with consistent leasing.
>>1286387
Ayye
>>1287840
I give them my address and talk to them. I never intend to sign up.
It's when they ask form my home telephone number (I may not have been clear on that) I refuse to give it to them.
I know it's not "a scam" but the 20 minutes they are trying to sell me one, i'm stopping them signing up another idiot.
If you want a credit card, you DO NOT sign up for one in the street just because they offer a pretty snow leopard on the card or some shit.
>>1287839
Yeah, i've been reading up today on the cards I can get, i've never looked before because it've always been off put by people asking "debit or credit, there's a charge for credit."
I bank with Barclays, they off a card with fuck all benifits, 0% intrest for the first 6 months but that's it. I will never be in debt so I don't need this. If they do not advertise the benefits, I sure as fuck aint going to phone them and ask what they are or what I could get.
Pretty much same on every site in the UK.
>>1286669
The blog is by invite only. Only the best investors can enter.
>>1287968
That sucks that the UK has shit credit card options
I get 2-5% cash back on all transactions I can do with credit cards, which is basically everything except student loans and rent for me
>in b4 renting is for poorfags
I've been in this town for 6 months for a new job, and I really don't like it so far, so I'm glad I can just dump my month to month lease and move again if I want to
>things poor people do
Post on /biz/.
ITT : People talking shit about what they don't understand
I Put EVERYTHING I can on credit card and pay it off in full at the end of each month.
I have a range of credit cards and through business and personally I spend between 150-200k per year.
My Amex cards are linked to my frequent flyer miles and I get points galore, never fly economy and haven't had to pay for a holiday in a decade.
>>1288047
we have a winner
>>1286374
>I browse /biz/ on 4chan
>>1286374
>you will never be rich while you are still young what's even the point
>>1288057
your just a narrow minded cunt who thinks everyone should be and live like you.
I have explained why I do not have a credit card.
I do not fly for a job and I take holidays to Scotland because I have been to the states, canada, india, china, japan, france, italy and portuagal; to may foreigners.
Basically what I'm saying is: Fuck you.
>>1287872
Sorry, I'm not exactly the outgoing type, so I wouldn't know. Also, I'm from the North, and you will visit the South. Which I think is generally more expensive on average.
>>1288165
>Which I think is generally more expensive on average.
Well shit.
Thanks anyway, anon.
Oh, on a scale of 1-to-10, should I just keep my mouth shut the whole time?
Can't I be thrown in jail for saying something offensive?
>>1288169
I don't think anyone would care enough. Just don't be racist, impolite, or rude.
Or head over to /int/ and ask them, but be wary of jokesters.
>>1288178
>Just don't be impolite, or rude.
Well, luckily I was raised in one of the most friendly parts of the world...
>Just don't be racist
...shit.
Thanks, I'll ask /int/ for more details.
>>1286692
>all this typing
>full-coverage
>"day-IN-age" (what the fuck)
>car-payment
>up-coming
>long-lasting
all
those
hyphens
what the fuck m8 what's your first language? I have no idea what would inspire this butchery
>he takes advice from /biz/
>technical analysis doesnt work
silly failed wanna-be "day traders"
>>1287968
>there's a charge for credit
yeah that sucks it happens when the credits cards are not widespread and the customers are not putting pressure on the shops.
i'm not saying ditch the debit card, but if you can without fees pay with a cashback credit card.
>>1286491
Turns out you'll never make more than 60k/yr, 110k if you're lucky and got an apprenticeship.
>>1286904
Thank you for the laugh anon
>>1287076
Are you sure he isn't just telling this to avoid making you feel jealous? People with good social skills often tell shit like that to make other people feel better.
>>1287968
Only happens in shitty corner shops. Card fee is pretty much included everywhere these days even if you pay cash.
Main advantage of credit cards is credit rating and buyer/scam protection
>>1286801
You can contribute to both - 18.5k for for the 401 and 5500 for the Roth if you're below the income limits
>>1286374
>I could never start my day without a latte!
>>1287726
Depends a lot on situation and location. Buying is arguably not the best if you're in a shit tier no city with stagnant or falling home prices. The initial principle payments on a standard 15/30 year mortgage is minscule and not worth the opportunity costs of being stuck with an illiquid investment.
>>1286692
>> Credit cards are a scam, you just need a checking account and a debit card
This was a popular sentiment before the consumer protection act passed in the US several years ago. Credit card companies would put "Pay nothing for up to a year!" In giant bold lettering and then print the APR in literally unreadable fine print. Lots of dumb people ended up in debt because of this.
>>1286740
How much do you make in profit? How much do you keep for yourself?
>>1288672
>>1286740
>>1286766
Also on top of this, the plebs on welfare with high end phones might not actually own them. Some phone contracts lease out phones.
Even if they didn't buy it, its not like some net-smart one bought chinese knockoffs or used ones off of eBay for them. Seriously, you can get high end shit for cheap with luck, timing, and an internet connection.
>>1286387
meh. I became an electrician and bought a house at 24. 3 years later have 100k in equity while my friends have 80k in student debt. Not too shabby.
>>1288489
Geography nigga. Where you work a trade at also depends on where you live.
>>1288489
>>1288715
well my trade is software engineering and no i don't make $60k but i make the same as the ones with degree and in my position and more than those with degree but just starting. experience trumps paper. but you need a pinch of luck. i started out as a bottom feeder coding for min wage literally in 2000. now i get company car a very very good wage and flexible hours i sometimes just work from home (i don't like it in the summer tho no ac).
>>1288727
I didn't realize you could go to trade school for software engineering. Or you mean HS grad only and/or a non-relevant major?
I've been looking for the most satisfying careerpath to escape my wagecuckery, and computer science/engineering has been my top option. Right now, I want to see if I could do software programming for drones.
>>1288739
you could well technically it was "computer programming" but i already knew everything i needed it was a formality and frankly i wanted to postpone work as much as i could.
i wanted to be a team leader or lead dev for a long time. my luck is every time i manage to get on top of a team it falls apart. people leave for an other company for better pay or get extended leave (one fucker went to surf for half a year and said fuck everything i'm out). so there have been setbacks for sure.
i'm not as much giving up as starting to look into a different lifestyle less wage cuckery and more investing.
it's hard tho, in my country devs are paid less than bus drivers in murrica. so it's a tough start.
>>1288715
I dun fucked up on here. I meant to say "Where you live also affects how much you make".
>>1288755
Damn, son. I've got a homie in an East Asian country (er... city state?) where wages are incredibly low in fields where muricans make bank. If I had my current job (Mallcop) where he lives, I'd basically be fucked along with generations of my future spawn. Competent engineers in his country also make less than 40k usd a year. I also make less than bus drivers over here do, but that's mostly because their jobs are government jobs and gov jobs around here are typically unionized. Even in my state where it has no budget and my town relies on schools for most of its economy, gov still pays its workers bank. I can only hope to get a security job for either the public transportation system or the university here, but at least my job allows me time to plan on the clock without my boss getting pissed at me. Since I do night shift, I'm pretty much expected to find something to do in between patrols ha ha.
Sorry you had bad luck on your projects. As long as you keep getting chances, don't give up! Only the luckiest succeed on the first few times.
>>1287785
>1k a month
>That's very, very poor
I've been living on 300 to 600€ for the past 5, almost 6 years
>>1288834
1K a month puts you just above the fed poverty level in the US if you live alone if I recall correctly. Even the welfare statiest of the states, you're screwed if you are in the wage hell in between poverty and just-enough-to-pay-the-bills range, which varies more on your local area than state.
>>1287042
It's true you want credit utilization to show as greater than 0 percent, but your credit utilization gets calculated by statement balances that are reported. Your scenario would only apply if you were paying the balance on last day of statement period, which would be stupid anyways for not taking advantage of 20 day or so grace period of zero interest.
>>1288499
No, he wishes he had done HVAC.
>>1288510
No it happens everywhere, for example me car insurance, both of them I took out only last month, I rember them both saying there would be a % charge if I used credit, same for the taxi company I worked with they charged extra, and they make £40,000 a week.
The scam and insurance cover is the only upside I see, and it is a good one.
But first of all, you should not be retarded enough to get scammed, and if you book a holiday with a broker who's going bust, then again you are retarded.
As for credit rating, I have good credit rating because I've never been in debt and had a balance above 20,000 for the last 5 years.
>I'm voting for anyone but Trump!
>>1286767
I live in london. The not so fancy part of it...1bed home is quarter of a million pounds...rrreeeeeeeed
>>1288117
Why are you so salty? If anyone works for a company that reimburses your expenses in such a manner you would be a FOOL not to take advantage of that and use a credit card.
>>1286387
I'm 21 and live at home
even working 40 hours a week, I can't find a way out
I think I'll an hero before the end of this year
>>1290954
I'm a month and a half away from 26 and in your situation. I moved out for about two years in between now and high school though.
I've notices its a bit more normal nowadays, but it still feels fucking bad and I can't wait until I can move out and have my shit together again, hopefully for good.
>>1286703
>I've worked in 401ks and other retirement plans for 14 years, so I've got a bit of a beef with this one. First of all, it's the plan sponsor (the employer) that decides whether Roth is even available in the plan.
14 years huh? And still an idiot. You don't have to do your IRA thru an employer
>>1287206
My bank charges me for cash advances on my debit card.
>>1286374
>I start threads about poor people when I'm really poor as fuck
>>1286850
they will never know
>>1291301
Your bank charges you for loans? Outrageous
>>1291366
They charge as much as an atm to get cash from my checking account. Not to take out a loan.
>>1292221
> charge
> ATM
What on earth are you doing that you have to pay to use an ATM?
>>1290659
I was referring to his comment:
>ITT : People talking shit about what they don't understand
I do understand how they work, that's why I don't have one. We do not all live and work the same way he does or in the same country.
>>1287401
why should we give a shit about the 3rd world when posting on a moroccan candle making convention?
>>1288585
well buying a latte at starbucks or peets
if you are making coffee at home (I can make mine in 5 mins and drink it lukewarm with cold milk) you are doing it right
>>1292333
THIRD WORLD DOES NOT MEAN POOR AND A SHIT HOLE.
The term Third World arose during the Cold War to define countries that remained non-aligned with either NATO, or the Communist Bloc. The United States, Western European nations and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World.
>>1292375
3rd worlder confirmed
>>1292376
UKfag, so as good as or soon to be.
>>1292221
Why do you think cash advances are not loans ?
Why are you saying ATMs charge the same as ATMs?
>>1288807
thx, not giving up for sure. today we had two job interviews the applicants were to say the least a disappointment. one guy i was really unsure how to tell that despite his many years of experience we can't use him for shit and despite being a teacher he doesn't know nearly enough to even go to interviews. the other guy was easier he didn't know literal shit so we told him maybe he could do a little apprenticeship see if he can soak the skills up and learn like a motherfucker because he can wipe his ass with his degree there is no way he can do dev work right now.
people like this come all the time i wouldn't mind if our profit margin was higher.
>>1286374
> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
Never buy a brand new car as the same year you're in, always buy the previous year. Current year cars are full of recalls and will kill you. So if it's 2016, you don't buy a brand new 2016 car, you buy a brand new 2015 car.
>>1286721
>I pay a third of my income to live alone so I can sleep with unattractive women
>>1286374
>you just need a checking account and a debit card
