/biz/ - Business & Finance

You should have some level of anxiety when it comes to finances, just don't let it overwhelm you.

>>24674022
I didn't get over that feeling until I was in rehab untangling all my emotional hangups and problems. You have a history of being poor and penny pinching, right? You have to talk through it, accept that things have changed and you're taking the right actions to avoid backsliding, and then consciously decide to purchase better quality things for yourself because you deserve it and it won't put your financial security at risk.

For me, this meant hiding cash/crypto as emergency savings and committing to buying nice things on sale on black friday last year. The improvement in my life was worth it. I greatly enjoyed the experiences I got to have from those purchases and I'm still financially secure because I bought good stuff that is still usable years down the road. Even if I got fired, I have YEARS of living expenses saved up. I don't have to be afraid anymore, so I force myself to live a little better.

>>24674022
Don't buy the cheapest stuff. Buy something that'll last a while.
You'll save money in the long run.

grow some fucking balls idiot
enjoy your life

>>24674022
>be me 26
>$55k in Crypto as of today
>$7k in the bank
>student, living at home
I am basically the same. I don't want to spend any money. My phone is like 5 years old and I was thinking about getting a new one for the last few days, but just can't get myself to CONSOOM.
I also thought about getting a proper warm winter jacket for a few weeks, but I just can't get myself to buy one. It just feels bad, even though my current one is shit.
After all I am in the house most of the time anyway. I am lietrally refusing to spend money on anything. I have all I need.
I can't even imagine how it will be one I am a Crypto millionaire, what I should fucking do with all that money. It's already overwhelming at this point.

>>24674138
that's incredible helpful, anon. thank you.
always been penny pinching, yea. will try out buying better stuff, what you are saying makes sense and i've never thought about it that way.

>>24674309
i literally cannot and would never be able to have most of my money in crypto, literally couldn't sleep since it all could be gone in a day. how do you manage?

>>24674254
Funnily enough this is getting harder and harder to do. All the shit is being made in China and they cut corners like you wouldn't believe.

>>24674022
yeah no wonder why you feel anxious if you dont put those 70k into crypto nigger

>>24674022
>stack BTC while i is in 5-figure territory
>keep your head down
>become a world financial elite in the 2025 runup.

>>24674377
>how do you manage?
By knowing that it is my only shot at making it, friendo.
By not caring about money too much, because it's not real.
I have a history of online poker and sports betting.
By knowing, that you have to risk money, to make money.
By knowing that I only live once.
By knowing that Crypto will not die and is the evolution of money, while this FIAT shit gets worth less and less.
Hope this helps.
I honestly don't have much of a use for it anyway

>>24674512
dumbledaddy?

>>24674529
No idea what you mean by that?

>>24674138
This is correct. Everyone here seems to think IF I CAN SAVE 50 BUCKS A MONTH BY EATING BEANS AND RICE THEN I'LL BE A MILLIONAIRE ONE DAY EATING STEAK EVERYDAY. They are just as bad as the consoomers because they only care about the future. If you are worried about the future, work on a better job.

The way I see it is you should commit to at least saving and investing a certain portion of your income. From there, use the rest to live a "modest" existence. Buy the food you want to cook and get yourself something nice once in a while. If you have leftovers, great! Use it to invest or save for something you may need down the road. I use YNAB to budget and I highly recommend doing something like that. I try to budget a month a head. Then I can take whatever I didn't spend and either invest it or do something else.

Money doesn't buy happiness isn't a meme. It buys you time and stability. What you do with that is up to you.

>>24674022
LMAO that's me too

>>24674309
>26
>2k in bank
>30k in crypto + 15k BTC loan (@ 9k)
>Live at home
>>24674512
Exactly how I feel. I will make this money back over my lifetime if I lose it, but will the same opportunity be available? If I didn't go all in and I was right, I'd instantly off myself.

>>24674505
>5 figure territory
You have literally years to stack before the 5 figures. NGMI

>>24675314

>>24674332
It's tough man. We carry all our past stresses with us forever, and the only way to lighten the mental burden and stop fighting yesterday's battle is to really thoroughly review what happened and the impact it's having on your life today and your plans to recognize and deal with it in the future.

>>24674854
The book The Richest Man in Babylon talks about this. Explicitly about not being a miser and enjoying your wealth (responsibly). It's a very short book and free online if you google it, if /biz/ had a proper sticky it should be the image.

>>24674022
Everybody is always going to be stressed/anxious about money. The ones that aren't, make poor decisions. Just earn as much as you can, save/invest half or a third of your income, and spend the rest.

You also need a decent emergency fund in something low-risk. You should be able to live off of savings for 6 months.

>>24674854
I've noticed that I stop devoting so many resources to savings once my savings level has reached a certain level with respect to my disposable income and I expect to get a higher paying job. The next job I get will increase my pay by 50% to almost 100%. The amount of disposable income I'll have when I make that change will be so much, that pinching pennies just doesn't make sense when you know a single paycheck from a better paying job will allow you to save more than 6 months of scrounging by at your old one.

>>24674377
If your money's in shitcoins yeah it's stressful, but if the majority of it is in bitcoin which has a proven track record it's very easy to sleep at night. I was in the red for about a year since I started buying in 2018 at 8k, but I kept just DCA'ing into it and now I'm very solidly in the green. I'm actually more concerned now about my stocks and fiat and will probably cash out my stocks and move into BTC during dips. Of course you'll still want to have emergency cash savings, money in the bank, and a solid job for income to be financially stable for life's emergencies, but this isn't 2010 when bitcoin was new. It's a stable technology and we're never going to see it go below 1k ever again.

>>24675474
I should really read that. My late father read it and so I thought it was just a boomer book. Maybe I'll read it after I finish what I'm reading. Cheers lad. But I agree with that wholeheartedly.

>>24675505
Yeah, exactly. I think it's important to recognize opportunities to be frugal, but at a certain point you also recognize that 1) the time investment isn't worth it and 2) you want to buy nicer things. I hit my savings goal and will probably just throw 2 percent in to keep up with inflation and no more. Then just invest the rest so I can build large amounts of wealth. Why live like a peasant your whole life? Doesn't make sense to me. Just don't spend all your money on frivolous crap.

You have to risk it to get the biscuit

No one ever got rich by saving. You either invest and make it or you take your stupid ass to the pleb lines with everyone else. Literally NGMI.