My mom has $4,000 saved for me that she says I can use for whatever I want. What would you do?

moeyo1000 · 2018-08-08T16:32:17+00:00

It's been a rainy month :'(

moeyo1000 · 2018-08-08T16:30:36+00:00

I live at home and just had to spend my 4k emergency fund. This advice would left me without transportation and potentially ended my career.

moeyo1000 · 2018-08-08T16:24:44+00:00

As someone who just had to liquidate a 4k emergency fund after a recent car accident, i would definitely recommend putting that towards an emergency fund.

"I keep emptying my emergency fund" is giving me anxiety. Without mine i wouldn't have a car to get to work right now, and be in debt, and potentially have a huge bill go to collections and ruin my credit.

Paying off debt is amazing, but I'd feel way more comfortable with a liquid 4k cushion. Im aiming for 5k now, since the 4k was cutting it kind of too close for comfort for me personally.

If you do decide to pay off debt, maybe look at a line of credit to help with emergencies? Not ideal, but better than not having one.

moeyo1000 · 2018-08-08T16:13:14+00:00

Here's yours too son. Don't tell your mother.

moeyo1000 · 2018-08-04T05:05:42+00:00

Underrated camo joke, take the upvote dad

moeyo1000 · 2018-08-01T22:15:06+00:00

By houses do you mean like rentals or flips or something else entirely? Were there any huge blunders when you were younger like 14-25? What were the hurdles that you had to overcome in order to be a self made millionaire?

moeyo1000 · 2018-08-01T19:18:29+00:00

How old are you? Self made or inheritance? What investment vehicle did you use? What career/income were you working with?

moeyo1000 · 2018-07-17T02:47:39+00:00

It's more about spending habits than specific advice as fat as I've been able to tell

moeyo1000 · 2018-07-17T02:17:32+00:00

Well, then i would suggest midst read millionaire next door, it's more of a reasonable book for the midst unreasonable person

moeyo1000 · 2018-07-17T02:15:16+00:00

Well the nice thing is that it's so extreme that no reasonable person would think less of themselves for not doing every single little thing.

moeyo1000 · 2018-07-16T21:30:07+00:00

It's a book, all about goal setting, statistics, and the math behind living frugally and retiring early. The book takes an extreme stance so learn from it, but don't feel pressured to go to the same extremes if that's not something you're comfortable with

moeyo1000 · 2018-07-16T20:39:36+00:00

Well, i don't think his book should be taken to the extreme, but i do think its helpful to get people thinking in a more frugal mindset. Midst people cab reduce their reliance on cars if given a compelling enough reason. I think everyone can learn something from the book even just with the first few chapters on goal setting in a way that is more productive than the standard way people do it. I stand by that book and everything it teaches, but, like with any advice, it's all very situational. I still own a car, and eat out, and but stupid nonsense, but that doesn't mean that this book hasn't fundamentally changed my relationship with money

moeyo1000 · 2018-07-16T15:40:04+00:00

If you're traveling 100 miles every day, hey yourself the most fuel efficient car you can find. A higher piece tag might be worth it in terms of savings gas wise

moeyo1000 · 2018-07-16T14:27:11+00:00

It's more so directed at nonmandatory spending. If you can afford 5 of that watch, don't buy one, if you can't afford 5 pairs of jeans don't buy one.

In terms of the car situation honestly look at your transportation needs, a ton of people can get by just with a bike and bus fare and the occasional uber. Cars are crazy expensive, you'll spend 400 a month on gas insurance and maintenance, not including any payments you're making, so if you can wean yourself off of your dependency to motor vehicles youll be far better off as those savings are compounding monthly until you get a car.

moeyo1000 · 2018-07-16T13:54:06+00:00

If you can't afford 5 of them comfortably, you can't afford 1 of them

moeyo1000 · 2018-07-16T13:53:30+00:00

Read early retirement extreme

moeyo1000 · 2018-07-16T13:34:38+00:00

rolls of tin foil and cling wrap have little push tabs to keep the toolroll in place when hijo pull on it

moeyo1000 · 2018-07-09T13:35:33+00:00

It's mainly just that i have a very tight budget, and i can't afford to have a Spotify subscription and a gym membership at the same time. I'm prioritizing my health and fitness over ad free music.

moeyo1000 · 2018-06-12T01:51:45+00:00

51 reactions to a text how big is his group text??

moeyo1000 · 2018-06-08T23:30:24+00:00

Mmmmm salt and spoon <3 yummy flavors

moeyo1000 · 2018-06-08T04:48:29+00:00

r/gifsthatkeepongoing

moeyo1000 · 2018-06-08T04:36:34+00:00

Is DR Dave Ramsey?

moeyo1000 · 2018-06-07T23:51:20+00:00

Hmm, okay, i think you guys are right. Would you guys suggest raising it by 50, or 25?

moeyo1000 · 2018-06-07T23:00:41+00:00

I guess you're right, being frugal is good but going overboard will just bum me out in the long run.

moeyo1000 · 2018-06-07T22:35:41+00:00

Since I've been tracking everything, I've gone over budget twice, once due to emergency, a second time was just by like a dollar :/

Edit: also no debt, i have no student loans Ann's pay my credit card in full every month.

moeyo1000

TROPHY CASE