Changing jobs in 2021. Managed to almost double my salary overnight with less stress.
this post was submitted on 08 Jul 2023
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Paying off all our credit cards and cancelling them and living off cheque / savings accounts rather than credit.
We did this about 5 years ago before COVID uncertainty and the current cost of living crisis and I’m just so relieved we don’t have to worry about paying anything off.
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(3 replies)
Stop spending on games :(
Taking out a good loan to consolidate my credit card debts, and make them cheaper at the same time. I might be paying it off for 5 years but the interest and monthly payments are cheaper.
Rolled over a 401k into a cash IRA the week before Lehman died
ETA: the timing was pure luck. I had no clue what was about to go down.
Buying a crappy house. It's structurally sound, but not a good neighborhood, crappy schools, and I don't want to have people visit, but it cost half the county median and the difference in mortgage goes into index funds. My peers have nicer homes, but its their only asset: if they want to retire, they have to sell the house and move somewhere cheap.
The house I bought in 2012 because I was mad my landlord was raising my rent.... I wasn't trying to be smart..it was a fuck it scenario. Damn was housing "cheap" back then. Houses around me are renting for damn near 3x what my mortgage + insurance is. And selling for as much.
I went through the CFA certification process and it helped me advance in wealth management where I can afford a family and a decent life.
I don't make a killing like some but family is happy.
Work isn't that fulfilling so figuring that out but it was a great financial decision. Cost like less than 5k and work paid for most.
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I'd say investing in my 401k.
I'd recommend to anybody looking for sound financial advice to look into Dave Ramsey. You can watch his YouTube videos and gain all the knowledge you need free. I never went through any of his courses and do not have any association with him. I was already doing most things he recommends and it works.
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(4 replies)
Offset mortgage
I diversified my savings account. Some is put into precious metals,a CD, and some in stocks.