I paid off my car recently. It has like 26,000 miles. It was 0% interest, but I just hate paying for it every month. I am ahead of everyone my age (24).Not sure what I should do with the extra money. I don't have enough saved up for an MMA account, and that kinda sucks anyways since the interest is just enough for inflation. I make around 48k a year, paying 1500 in rent, and 240 in insurance/phone. I eat like a rabbit so I spend maybe 100 dollars a month on food. Any advice on what I should do with the discretionary income?
>>32595387either fold it into something that will make money or things that hold value like guns and gold or buy a boat to fuck sluts on
>>32595387Why did you pay off your car when it was 0% interest?Every year, the cost of living goes up and you had a fixed expense on something.You could have done so much more with your money.
>>32595453I just don't like paying money every month, it was only 5,000 dollars to pay it off anyway
>>32595496donate to a church after extensive vetting through mixing with the congregation and sussing the ministry
>>32595763Well, I have before last year, I stopped going to church since it was 45 minutes away. Got a statement for 1,100 dollars recently for taxes.
>>32595387>Step 1: Start rainy day fund of 2,000$ in a separate account. This is used for unexpected expenses like small medical bills like urgent care visits or minor car repairs if you get into a fender bender.>Step 2: Start an emergency fund of 6 months worth of regular expenses or your income. It sounds like a lot and will take a while to build up but it's worth it in the end if you lose you job in a worst case scenario.>Step 3: Begin putting money towards a nest egg. This can be in a 401k and Roth IRA, personally I have both for variety's sake. If you live in the USA this is key because social security is going to run out in the 2030s ans big daddy government doesn't give a shit about you.>Step 4: Look into alternative savings or investment options. This can be buying gold or silver bullion, or other things like getting into ETFs. I tend to keep it basic and follow Dave Ramsay's advice and keep it in 4 different types of mutual funds (growth and income, growth, aggressive growth, and international). This is more secure than stuff like crypto but feel free to look into more stable coins as well. Don't fall for any of those meme coins or rug pulling bullshit though.
>>32596417Ok, I will look into this. I will do 401k since my employer does that.
>>32595387Make a family.Buy Bitcoin
>>32595387Do you like to travel? Would you like to go overseas and see some of the world? That's what I would do.
>>32597203Doing it through an employer is good, especially if they offer contribution matching, at least put in enough money to get the full match. For example, if they require you to put in 6% of every paycheck to get an equal 6% match, do it, since it's essentially free money.
>>32597849Is a 401k still worth it if you just plan on cashing it out in less than 5 years?
>>32597497Not really, I fear foreign people.
>>32595387What is your diet like and why do you eat so little?
>>32595387How about investing in some steak and a gym membership you 98-pound twink
>>32599133Also, lurk moar on /biz/Boomer economy has been dead for 25 years. If you want to make real financial progress you're going to have to yolo equities/options/crypto/real estate/collectibles and start some sort of side business, preferably online. Just how it is, think of it as a game.
Dumb ass. You never pay off completely anything that's such a low interest. You could have invested that money or buy Bitcoin. Anyway I recommend you put your extra money into your 401k or buy Bitcoin. You will thank me in 20 years.
>>32599133Despite me eating only steel cut oats and eggs, I am 195 pounds at 20% body fat. Granted I had a knee surgery, but I definitely lost muscle.
>>32599009save money, saved like 8k last year to pay off my car. At work I got to eat a lot sometimes because we have investors using our meeting rooms with catering.
>>32599298Actually impressive if true. I'm 15% at 180, but I'm 5'9" so I look jacked compared to normies. Spending $500+ on food + supplements tho.
>>32599526Yeah, well I should add I eat at work sometimes for catering one a month maybe. Also I eat some pepperoni at work for snack since its cheap.
