| Lots of people talk about investment basics below (FIRE is a bit crazy for me, but worth evaluating for the underlying message). For me it's about respecting money and saving like social security will be next to useless by the time you retire. To start, save for a 6-12 month runway, invest in ETFs (QQQQ - nasdaq100 / IVV s&p500) and take advantage of employer matched 401K (it's free money!). Don't pick individual stocks as you most likely don't have the time to invest in this. I think it's too easy to buy crap you don't need using a credit card. Yeah I fancy that fancy-coffee and muffin for breakfast, click 25% tip and don't even look at the total, just click buy-now. It's magically gone from your mind. TIP-1: Stop using the credit/debit card (yeah, yeah, everyone thinks this will be nuts, but it will work). Make it a pain to spend money. Going to the ATM because you keep burning all your cash makes you aware of all the crap one buys. Yeah, you could use spreadsheets and technology and all that to track, but nothing is more of a pain than going to your ATM. And really stop buying coffee and if you can, make your own lunch/eat leftovers. TIP-2: Don't go into debt for crap you don't need. I hate debt (yeah, it's probably not cool). I don't have ANY. I pay of my credit-card in full and I get a massive sense of security that I don't have anyone chasing me. TIP-3: Do you really need spotify/netflix/fancy iphone. Oh you'll be miserable you say. Well go to the library (yeah they still exist) and read some books. TIP-4: Don't lease, as one tends to overspend. If you can't afford it, save up. |