So I graduated high school In December and just landed a job making $1200 a month. What should I do with It? Obviously I'm going to become financially independent but I will have about 600 bucks per month to either spend,save, or invest. I don't care much about material goods and have taken a liking to some of the results I've seen with people investing at early ages. Should I study the stock market and start investing after saving a few grand?
Don't be stupid, you're going to need a shitload in cash before you invest in the stock market.
What if your car gets stolen, need a deductible? Security deposit on a place? Let alone down payment for a house, which will take you a shit load long time to save $600 bucks at a time.
Once you have a COMFORTABLE amount of cash, consider investing some of it.
This is a horrible place for financial advice.
At least here bad answers are born of ignorance. The real nightmare happens when people give you bad answers out of knowledge.
The standard financial advice of diversification, but with an emphasis on stocks as a slightly larger percentage, (as opposed to cash or bonds) has held for at least a hundred years.
It is standard, but rarely do people ever follow it.,
SAVING: hjahahahahaha , a stupid choice, if your are American or European, savings account interests are at an all time low, and will be low for a long, long time.
You need to think of the money you have now as Capital
SAVE SAVE SAVE!!!
Life is so much easier with savings and no debt
DO NOT CREDIT CARD!!!!
Credit Cards will fuck you over, save all your money, spend cash, if you use credit, pay it right away the bank should get ZERO service fees from you if you playing the game right.
Also as your savings become bigger, vulture bankers will offer you more credit, or line of credits, if you take them, don't use em. Just keep em on the side like weapons in case you ever in trouble.
From this point on, for at least 15 years, unless you are American (or British or German), do not think about savings, but think about capital.
Buy Google, Microsoft, Apple, , or some kind of stock or investment, that you think will be worth more tommorow than today. A savings account will lose you money in most countries, it will quite literally lose value.
I would rather get a tax free account or some other banking investment, save all my money, you never know what the future holds. stock market is glorified gambling. I rather have $10 000 in my account earning 100bucks every year.
Go to college and get a real job. You dont make enough to really survive. You think you will be financially dependent with 1200 a month. TOP KEK. When your aparentment floods and you need to spend $5000 to get it fixed how do you think you are ever going to manage that without your parents.
When you get sick, can you afford insurance. Because insurance cost a shit ton a year. You could obviously apply for welfare and other shit to help you but thats depending a lot on the government. Youll have to deal with a shitty poor mans life praying the government heres your pleas when you say you cant afford food.
You simply don't have enough money to do anything but save up. Anyone suggesting the stock market either didn't read you right, or is a rich kid with no idea about how the real world works. You're going to want to save your money up for now, invest it not in stocks, but in YOURSELF - figure out where your career is going and get an education so that you can get there.
Life necessities are almost surely going to get in the way of that for now though, because $1200 a month ain't shit.
>because $1200 a month ain't shit.
It's true yo, I have a 1 bedroom apartment and no bills other than food, internet and hydro. I need at least $1200 to live. After bills I am left with roughly 200 and that is my going out and saving money.
If you live with your parents you better save! if you are not saving you gonna fail when you move out.