I'm now making 1k a week any tips?

[Basra]

 

[dr.leorio]

Pay yourself first. Invest 20% into gold, silver or cryptos and then do what you want with the rest.

 

[Muji]

1 K a week is not that much in STEM lol it's around 52 K a year and that's without tax .

I just haven't had this much money before and am wondering if anyone had some tips.

Are you single huuno?

 

[Playboi Carti]

1 thousand a week?

 

[NotMyL]

That’s 25 dollars an hour if you’re working M-F 8 hour shifts, I don’t know where you live but that’s not a lot of money. I’m assuming you are college graduate and not a teen?

For saving tips, I would say put your money in savings account that’s not linked to your checking account, I use Capital one 360 savings card, they just take 450 dollars every month from my account and it’s out of sight. Every few years I look at it and I’m surprised by how much I saved without even thinking about it. We also do 2k ayuuto to save for bigger things.

 

[VixR]

1) Invest the full employer match in your 401k.

2) Put $500 a month towards opening a Roth IRA account with your employer, or another brokerage. It maxes out at 6k a year.

3) Put away another $500 (at least) a month in savings that grows with interest.

 

[PhySom]

That’s 25 dollars an hour if you’re working M-F 8 hour shifts, I don’t know where you live but that’s not a lot of money. I’m assuming you are college graduate and not a teen?

For saving tips, I would say put your money in savings account that’s not linked to your checking account, I use Capital one 360 savings card, they just take 450 dollars every month from my account and it’s out of sight. Every few years I look at it and I’m surprised by how much I saved without even thinking about it. We also do 2k ayuuto to save for bigger things.

Still in college( just turned 20) and it's part time + my side businesses.Thankyou for the advice, it seems most people support saving money.

 

[PhySom]

1) Invest the full employer match in your 401k.

2) Put $500 a month towards opening a Roth IRA account with your employer, or another brokerage. It maxes out at 6k a year.

3) Put away another $500 (at least) a month in savings that grows with interest.

Interest growth seems to be minimal without having a large principal, I am Aussie btw.

 

[PhySom]

Are you single huuno?

No, my girlfriend got employed so started flaunting her money.

Got embarrassed at the stares in the restaurant when she would shout me.

 

[Ras]

Just got the first pay check , any tips for saving money etc?

1k is barely enough to live off but still would advise you to save at least 10% of that paycheck.


Put aside 400/month and funnel it into a S&P 500 ETF. Go for a known broker and pick a passive ETF.

Learn from investopia or reddit to avoid getting robbed by brokers.

I'd say we have at least a decade left of decent returns on those and it's halal.

6%-9% returns.

 

[VixR]

1k is barely enough to live off but still would advise you to save at least 10% of that paycheck.


Put aside 400/month and funnel it into a S&P 500 ETF. Go for a known broker and pick a passive ETF.

Learn from investopia or reddit to avoid getting robbed by brokers.

I'd say we have at least a decade left of decent returns on those and it's halal.

6%-9%

Solid advice.

He said 1k/week post taxes. He has potential to earn quite a bit if he’s smart enough not to blow it on bullshit. That’s double what most of us are making at 20.

 

[VixR]

Interest growth seems to be minimal without having a large principal, I am Aussie btw.

Idk a thing about Austrailia, but you’ll have your equivalents.

You can pay out of pocket for school now to a greater degree, and manage other things. Don’t incur unnecessary debt, like buying a new car, etc.

 

[Emily]

Open a saving account. I have chase and 500 of my check automatically goes to my saving account.

 

[Yonis]

@Deactivated you're an expert in this, help the brother out

 

[YourBroMoe]

Just got the first pay check , any tips for saving money etc?

Be too lazy to spend. Works for me.

 

[XamarWeeaboo]

Just got the first pay check , any tips for saving money etc?

Don't develop a taste for luxurious or expensive goods, moderation is key.

 

[AussieHustler]

$50,000 is the average starting graduate wage in Australia. Engineering, IT (hardware and software) and architecture pays slightly more. In mining (a major contributor to the Aussie economy), with any sort of a technical degree, you get paid a third more. In law, a graduate wage starts at $70 grand. The average medical graduate (doctors) earns less than lawyers, but it gradually increases more than any other profession. Unlike other graduates, Law, engineering and medical graduates are heavily indebted which requires many more years to pay their debt off.

The accuracy of my statement above is very general and subject to corrections and revision.

 

[Ras]

Solid advice.

He said 1k/week post taxes. He has potential to earn quite a bit if he’s smart enough not to blow it on bullshit. That’s double what most of us are making at 20.

Depends on your lifestyle but it's still decent money.

Just didn't want him to invest the bulk of it in trying to seek short term gains.