this post was submitted on 03 Oct 2023
961 points (97.3% liked)

Comic Strips

12497 readers
3866 users here now

Comic Strips is a community for those who love comic stories.

The rules are simple:

Web of links

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] Krauerking@lemy.lol 2 points 1 year ago (1 children)

Damn.... well that's getting saved for if I ever have spare money again

[–] chaorace@lemmy.sdf.org 2 points 1 year ago* (last edited 1 year ago)

One of the (exceedingly few!) nice things about personal finance is that the less money you have, the less complicated the advice gets. If all you've got is enough to get by, all you really need to know is this:

  • Keep the checking account in the black
  • Whenever possible, completely pay down credit cards
  • Satisfy minimum payment requirements on other loans
  • Bills

With a little luck, you can actually manage a surprising range of financial gymnastics using nothing more than credit cards. Credit cards enable you to avoid payday loans, enable you to weather short-term hardships, (potentially) help you access more affordable home/auto loans, and even (potentially) pay you in the form of cashback rewards/promos in exchange for nothing more than occasionally putting up a non-revolving balance. Don't get me wrong -- credit cards are dangerous... but so is fire. Don't play with fire, but don't fear it either. Knowledge is power here.

Beyond that... good luck and godspeed on your life financial journey. If you ever need further guidance, I advise exploring this Bogleheads article. Of course, you can also feel free to PM me anytime if you have questions... though, full disclosure: I'm just a confident nerd on the internet with literally no credentials whatsoever -- let alone finance credentials!