Recent comments in /f/personalfinance

vinceds t1_j6n2ijn wrote

Reply to Keep money in savings or kill all CC debt? by coconut_icedcoffee

Pay CC debt, the rates are so high you need to instantly pay them. That's effectively throwing away money compared to saving rates.

And stop keeping balances on your CCs. If you have an issue with spending, start looking seriously at your expenses and identify superfluous ones (like luxury clothing, ordering food, restaurants, coffee...)

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golemsheppard2 t1_j6n252q wrote

Reply to comment by sonnyfab in Get hair done or put that money towards emergency fund? by rh031222

This is obviously the answer.

OP be like "I'm broke but I want a temporary recreational expense. What should I do?"

Like did they really think that they were going to get the validation they wanted and everyone here was going to say "sure grrrl, blow your savings on looking pretty so in a month it will fade and you will be broke AF"?

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ellasaurusrex t1_j6n24be wrote

Reply to Get hair done or put that money towards emergency fund? by rh031222

As a fellow curly haired person, I can sympathize. Haircuts are EXPENSIVE. Could you compromise and do the cut but not color? Is it a cut that will grow out well or is it going to need constant maintenance? Personally, I'd get the cut if it's the former, but skip the color and save up for that.

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squid_04 t1_j6n23uj wrote

Reply to Get hair done or put that money towards emergency fund? by rh031222

When you have an emergency that requires that 300, you’ll be happy you saved that instead of spending it on a hair cut. Baby steps 1-3 are all about sacrificing wants for the short term and sticking to basic necessities until on yo baby step 4 and beyond.

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Dickmusha t1_j6n0vc5 wrote

Reply to comment by A-Asura in How can I as a 17 year old flip $290 into as much profit as possible within a week? by [deleted]

If you have a job try and get a cash advance or borrow some money from someone. The correct thing to do is to not get involved in crime. There isn't much you can do to magically get 750 dollars. Bro I would just ask to borrow 50 bucks from everyone I could and eat the shit paying them back late while they all hound you at this point. If your dad/mom/grandparents have money .. ask them for the money take the ass wooping and clean up your life.

Also just to point out. I absolutely understand to be honest. I was very deep in the wrong places when I was a teenager. But getting away from all that stuff was the best thing I ever did. I spent too many days on drugs or with drug dealers. Just pay back your debt and get your shit together. A normal life is 1000% better than fucking around with bad people.

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222KFT t1_j6n0ru6 wrote

Reply to Get hair done or put that money towards emergency fund? by rh031222

IMO, this is "splitting hairs", pun intended, and frankly if you're excited to be on baby steps of saving and personal financial accountability, and it's already derailed, I think it behooves oneself to reassess priorities in life. THAT SAID, it's your money and if hair must be done, hair must be done. Just realize what's happening financially GL

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TyrconnellFL t1_j6n0pck wrote

Reply to Keep money in savings or kill all CC debt? by coconut_icedcoffee

>20% APR debt is an emergency. Pay it off. Pay it off yesterday! You are hemorrhaging money and you don’t have to.

For reasonable amounts of money to have in a savings account, the difference between the best account and a good account will be too small to spend lots of time on. If you can go up by more than 1% APY, sure, but I wouldn’t check obsessively and I wouldn’t keep jumping from account to account. But definitely don’t stay in some 1% account, you’re just giving the bank a free loan. And absolutely don’t stay at a Chase/BoA/Wells Fargo account giving fractions of a percent.

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