Originally Posted by alex da don
haha ..this chick here is delusional...
where you know an average 25 yr old with extra 400 bucks a month assuming they went through the regular hustle of college loans etc etc..
smh..she must be referring to them lily white 25 yr olds who graduate and their parents connection land them a 70K+ jobs starting out the gate..
sadly a lot of "us" regular folks start on average 30-40k...im sure as hell most dont have 400 to just be putting aside like that.
No she ain't it is possible. By 23, I had at least that much extra to stash away a month or maybe a tad bit more at times but most of the time I choose it on other things that I wanted at the time. When i was between the age of 19 to 21 I made about that much a year 30k and managed to open up a investment fund and stash 200 dollars away a month in it for about a yr and play around with stocks with the little money I had to understand the concept. I believe it is excuses that holds one back. It can be done. You need to manage your money more better. Things that one should avoid when starting off with a low salary.
1.) don't buy new cars with 400-500 dollar car payment. Buy something real cheap and pay it off in cash.
2.) Stop trying to keep up with them Jones (Black people are notorious for buying ish we don't need) I even do it sometimes but those are habits you gotta break.
3.) Living above our means. 500-1000 car notes with 2k rims on the ride and you still living with your folks. SMH
4.) Getting into large amounts of debt.
5.) Quit taking out all these loans for school. Adopt the pay as you go idea or get hired on with a employer that will foot the bill.
6.) Get a 2nd job or hustle use that money to stash into investments.
It is because of these most of us are living paycheck to check and barely staying afloat at times.
I remember when i was going through my 20's I always worked 2 gigs and most black people my age was like why you doing all that for even though i did not have too. Because now that I just hit my 30s I don't have to work as hard as I did then in my 20s and don't have to work if I don't want to. Was it worth it.... hell yeah.
My parents don't know ish about investing but I will not make that a excuse for me not too.