Message from @Jacob
Discord ID: 490700159320326159
@Deleted User My pitch is that it can be safer than stocks. Say I had bought 100 shares of JNUG at the previous close of 7.58, and I also bought a Put option with a strike of 7.50. Then even though JNUG went down to 7.31 today, I have the *option* (literally, the Put option I bought) to sell those shares at the 7.50 strike price. So this was safer than the alternative of not having an option at all.
Yeah I'll have to school myself on options
@Deleted User This is a good intro course https://www.tastytrade.com/tt/shows/step-up-to-options/episodes
*tips fedora*
A crash course in stop limits
hmny is a tragedy, was looking at it earlier
@ThisIsChris Is this the channel to talk about personal finance?
I just moved into my own apartment and might need some budgeting tips
@Jacob yeah!
Okay great. I have a few questions.
For non-perishable items, is there any reason why I shouldn't just buy massive packages at a time and have it last me the whole year? Why keep going back to the store? There's some good deals on Amazon and I'm thinking I might just buy a few big packages of non-perishable stuff.
I've set a weekly food budget of $75. I haven't decided yet to set a budget for other items because (1) it's much easier to get carried away and spend too much money on food than it is on miscellaneous stuff like haircuts which I just kinda buy as necessary and (2) food needs are pretty consistent, but, for other stuff, I might not need to buy anything one week, while, another week, I might have to buy a lot because something broke / I have a mess to clean up / whatever. Is this fine?
Should I ignore the budget the first week I move in? There was nothing here when I got hear, so, naturally, my first week expenses are going to be a lot more than every week after. A lot of the food items I bought on my first day were either non-perishable or just stuff that lasts a while like spices, butter, oil, etc.
@Jacob on delivering the non-perishables, the only downside is the space they take up in your home. If you're having them delivered anyway then you can buy more as you need unless you're getting some bulk discount. That being said, even though I have very little space I've still found it worth it to stock up on non-perishables precisely like you suggest.
@Jacob as for your food budget I honestly wouldn't worry. I suggest getting a credit card and putting it all on that. Yeah I know that sounds scandalous but even if you spend triple that for this last year in college then being a tech worker in Washington you're going to have more than enough money to pay it all back within a few months even while paying rent and all that jazz. I know it sounds cavalier now but I've seen so many college students jump through stupid hoops to save money in college and then as soon as they get real paychecks they're like "wow, I don't know why I was killing myself during my 4 years of freedom in college when I could have just paid it back with my paycheck's leftovers in the first 3-9 months of a real job."
Yes debt is an issue for people but the only "real" debt from college is loans for tuition and board.
I’m strongly against debt. It feeds the jewish degradation of our society, it creates bad habits, and it robs initial savings from the beauty of compounding interest.
And do not buy ANYTHING with a time horizon of 1-year. You will have different experiences and opinions in 6 months, much less 1 year after living on your own for the first time. First, it ties up money in assets that don’t give a return. Second, they take up space. Third, you might not even like that same thing in 6 months or you’ll be sick of it.
Ya I probably won't go full prepper and buy and entire year supply
Thanks guys
Don’t go buying a bunch of tools like I did because I was used to dad having them. Tools are expensive and many of them I don’t use enough to justify. Simpler to pay a small premium to have someone else work on the more complicated tasks.
Don’t buy a lot. Wait 3 months before you go heavy on anything. You’ll learn so much and adjust your tastes so much in the first year of living on your own.
Go to an estate sale to get all your kitchenware. It will save you several hundred dollars.
@Tanner - SC Funny you mention that, I agree that "buying stuff just because you were used to having it around as a kid and felt every house needed one" I find is one of the biggest sources I've seen of stupid or regretted purchases. Especially as a college student you wind up hauling a ton of stuff that you will never even need anyway.
The way I buy tools is I get them when I need them. I work on a farm so it's a bit different for me since I do mechanical work all day on equipment that in some cases was built 30 years ago and reassembled by 3 different mechanics so I need a lot of tools, but most people honestly can get away with one of those cheap home sets.
I have also just bought tools as I needed them. You can get the vast majority done with a couple screwdrivers and a hammer. You also don’t really know what you don’t have until you need it, but such is the beauty of Walmart at 2am.
I’m not at the point in my life yet when I can afford one of those giant rolling metal tool caddies people have in their garages.
*Yet,* I can’t wait to become hank hill.
Oh, also you can buy a lot of kitchenware type stuff from the goodwill’s online store.
You can get those kitchenaid mixers for like. 1/5th the cost of retail.
Literally all I want to do is track my spending. I don't want to link my bank account and report my income and all that bullshit. Is there a good program to do this?
excel
Ya, I was thinking maybe just a spreadsheet
What's the best way to do this? A big long column? Separate columns for every month? Week? Is there a way to break it down by both week and month?
Probably, there's alot you can do with it, it just depends on how it makes sense to you
@Jacob I just use a spreadsheet, I can send my format to you if you want
I've never had the need to do this, I'm a bit 👃 'y with my money
I've always just saved and hardly spent
I've always saved and barely spent, too, but now I'm living on my own, so it's a bit harder