I have been spending 60% of my wage on nothing for 8 years
- Thread starter jeplet
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helpinghand101
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rockinred2016
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dariusperez
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christsbloodinc
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@jeplet Hey, I just wanted to say well done!!! I have had friends and family members who smoke tobacco and quitting is no easy feat!
Also, if it makes you feel better, I have never smoked and I don't have $120k saved. And I am >10 years older than you are.
You have a great start to moving forward because you are debt free and have a steady job.
The habit most ppl swear by is to "pay yourself" (after bills) before any spending. Put money aside every pay day on top of KiwiSaver (perhaps 50-75% of what you were spending on smoking both substances, leaving 25-50% as your spending money for fun stuff).
KiwiSaver is a great tool because of the government and employer contribution, but there are also other savings options you can use. If you want to buy a house in less than 5yrs, don't go too high risk in your choices.
Almost everyone blows money in their 20s, don't beat yourself up for it. But you can make choices now so you aren't saying something similar as you're approaching 40. You've got this!!!!
Also, if it makes you feel better, I have never smoked and I don't have $120k saved. And I am >10 years older than you are.
You have a great start to moving forward because you are debt free and have a steady job.
The habit most ppl swear by is to "pay yourself" (after bills) before any spending. Put money aside every pay day on top of KiwiSaver (perhaps 50-75% of what you were spending on smoking both substances, leaving 25-50% as your spending money for fun stuff).
KiwiSaver is a great tool because of the government and employer contribution, but there are also other savings options you can use. If you want to buy a house in less than 5yrs, don't go too high risk in your choices.
Almost everyone blows money in their 20s, don't beat yourself up for it. But you can make choices now so you aren't saying something similar as you're approaching 40. You've got this!!!!
scootydash
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lukeplyr83
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@jeplet Hard no. Don't invest in individual companies. This is just gambling, which, having just given up two addictions, isn't a strong move. Especially don't invest for dividends. People think it's free money, but it actually takes untaxed capital gains and turns it into taxable income. It's the quickest way to lose 33%. It's just a terrible idea.
You are in a good spot so long as you don't do anything stupid or listen to bad internet advice. Here's what you need to do. Read the Barefoot Investor, then read The Millionaire Next Door. These will explain how to budget properly, set up an emergency fund and why your colleagues are buying nice things. Once you get through those,read A Random Walk Down Wall Street. It's a bit heavy in parts, but that is the only investing advice you will ever need.
If you are a YouTube guy, Coffeezilla, Patrick Boyle, The Plain Bagel and Common Sense Investing are all great.
And if you can listen to things while you get your prep done in the kitchen then Planet Money & The Rational Reminder are great.
Don't jump into anything quickly here. Be slow, be patient, be smart. Good financial advice is generally pretty boring. If it seems too exciting or quick run a mile. Good financial habits are small, boring stuff that adds up over a long time to massive stuff.
You are in a good spot so long as you don't do anything stupid or listen to bad internet advice. Here's what you need to do. Read the Barefoot Investor, then read The Millionaire Next Door. These will explain how to budget properly, set up an emergency fund and why your colleagues are buying nice things. Once you get through those,read A Random Walk Down Wall Street. It's a bit heavy in parts, but that is the only investing advice you will ever need.
If you are a YouTube guy, Coffeezilla, Patrick Boyle, The Plain Bagel and Common Sense Investing are all great.
And if you can listen to things while you get your prep done in the kitchen then Planet Money & The Rational Reminder are great.
Don't jump into anything quickly here. Be slow, be patient, be smart. Good financial advice is generally pretty boring. If it seems too exciting or quick run a mile. Good financial habits are small, boring stuff that adds up over a long time to massive stuff.
@lukeplyr83 Yeah not at all in a rush lol am wanting to see a good looking savings account before I want to spend more $
@lukeplyr83
Not if you are in the UK and collect those dividends via an ISA.
Also, dividends are absolutely fine if you do not invest exclusively for them and actually understand the fundamentals of a company and they are just a side effect of an investment strategy and not the focus.
Not if you are in the UK and collect those dividends via an ISA.
Also, dividends are absolutely fine if you do not invest exclusively for them and actually understand the fundamentals of a company and they are just a side effect of an investment strategy and not the focus.
@lamb007 Bullshit. They were buying out vape companies 10 years ago. They have been on the vape money train for a long time. By 2018 most tobacco companies had major products on the market.
https://tobaccotactics.org/article/e-cigarettes/#:~:text=Tobacco%20companies%20began%20buying%20existing,market%20was%20worth%20%243%20billion.
https://tobaccotactics.org/article/e-cigarettes/#:~:text=Tobacco%20companies%20began%20buying%20existing,market%20was%20worth%20%243%20billion.
@lamb007 I worked a contract for Philip Moris in 2018 and they had vape products all over their office in their main branch in Jakarta. I asked about them and they said they had been selling them since 2013. Why tf would you just argue with me for no reason? With how easy it is to disprove you just by Googling it lol. Stfu