Swap / Interest FREE Account @ Forex Factory

Entrepreneurs, saving, investing

Greetings! I just have a few questions regarding finance and wanted to see if anyone had some input/wisdom/advice that helped them when they had similar issues. I don't expect anyone to go into detail or anything, but Im sorta lost at this point and had a feeling coming here might be helpful... So, if you decide to read & post I want to say in advance THANK YOU! I know you have better things to do with your time so I SINCERELY appreciate your time and input, I cant stress this enough.
Ill try to keep this brief but it is a few questions and they cover a broad spectrum of topics, situations and variables, Im trying to keep it as simple as possible...just "big picture" or "general idea" answers would suffice, I can fill in the details and do the leg work, I just need help being set in the right direction or frame of mind from people who have done it.

So some quick, basic info that might help you guage what kinda input to give... Im 25 years old, I am unmarried with no kids and no plans to get married or have kids. I have a longtime girlfriend but we share the same sentiment about marriage and kids ( Thank God ;p ) I live in my fathers home rent free while he spends the next few years in his RV across the states, until then I have a great opportunity to save money that would otherwise go to rent. As of this moment, I am unemployed but that will change pretty soon.... I don't have any degrees...I don't have a savings account but I opened a Stash app account where I keep money in stocks and bonds, it has around $2000 in it. I live in Boise Id, im open to moving but would prefer not to. Boise isn't a large city, theres not much opportunity here. I have no other obligations currently that would interfere with any suggestions.
With that being said, here is where I am at....

Ive always wanted to work for myself since I was young. After almost a decade in the work force its become painfully clear that its what I need to be doing. Ive also undergone a drastic mindset regarding the spending of my money, as little as 6 months ago I was spending money on WORTHLESS crap I didn't need compulsively. Maybe Ive matured, but I have been trying so hard to break this mindset, however, old habits die hard... As my thoughts have been geared more towards working for myself and saving money, Ive also thought about passive income/ investing as well.

ENTREPENEURS=> I am curious what you guys did when you first started? I have the drive, the work ethic, the intelligence and will to succeed but I fall short in the first step which is an idea...somewhere to start. Buying something and selling it? Cleaning pools? Obviously Im not going to go buy a Pizza Hut as I lack the capital so I need ideas for small scale, low overhead and expense projects that I can grow off of and branch out of...What I have done is turn my aquarium hobby into a little side income, I breed Cherry Shrimp and sell them, I am going to post on eBay and see how it goes and possibly expand on that. That's the one and only idea Ive had. Its not that I am stupid, Ive always had a high IQ and all, but I think I tend to doubt myself too much, overthink 5 steps ahead...I digress, anyway, I am great with people, Ive worked and done well in a wide range of jobs as well....I don't have to enjoy the work itself, I still care about doing the job well and helping the company so I am open to a wide range of suggestions. Desk work, sales work, whatever. Im just curious what got beginning entrepreneurs started off and how did you get and find ideas? Its this block in my head...its so stupid, I cannot come up with the initial idea. Once I do get an initial idea, its off to the races. I build off of it, make it efficient, reinvest profits, strategize how to expand, the trick is finding the idea. All the stuff I do manage to think of seems inefficient and like it wouldn't work. I hate asking for charity so I sincerely offer compensation if someone wanted to really sit down and exchange some emails and help me get on the path to success...Im realistic as well, Im not expecting someone to hand me the blueprints to a company, just advice on how to find ideas on my own.

SAVING=> I was bad with money until about 10 months ago, Id spend it as quick as I got it. On stupid shit too, wow I get mad at myself thinking about it. The problem is, despite wanting and trying to change I find myself still doing this, let me give an example to show you what I mean:
I go to PetSmart to get Cat Food. As im driving there I mentally know I don't need anything else and don't want too waste money. In and out. After years of blowing money on crap I never use its getting old, ya know? I get into the store, get the cat food and without even realizing it my brain pulls a sneaky on me, it says, "I know you wont buy anything, but lets at least look at fish while were here.". Its like it has its own agenda, it knows if it can trick me into going over, Ill end up buying fish and I do. Its ridiculous. Had a big problem with clothes for a while too, and when I was younger im ashamed to admit, pain killers :/ . Obviously, I struggle with instant gratification and compulsive buying. Has anyone else had to break this habbit? I have the desire to, a little guidance would be a blessing...a mind trick, meditation, hiding your money ( LOL ) , any weird little tips or tricks that may have helped you would be helpful!

INVESTING & PASSIVE INCOME=> I suppose this goes back to working for myself and saving combined... but I wanted to touch on it specifically... Am I trying to juggle too much? I mean, if Im trying to start off being an entrepreneur is it wise to put money into long term investment options? Should I keep my capital liquid incase I need it for investment opportunities?
What are some ways you've invested? Did you hire a broker or DIY? I installed Stash, Robin Hood and the Forex Game... Right now Im using Stash as my savings account ( It is giving me more interest than ANY checking acct haha ).
seems its better off to invest my money myself on apps, or keep it liquid for opportunities...I hope Im making sense. As you can see, I am over thinking this and wanna see what other people did/ would do in their mid 20s.
Worth mentioning that I don't do half bad investing myself...I just do Blue Chips and high dividend bonds. I really don't do anything more than a "Moderate" risk, I put my money into companies I know wont fail: Berkshire Hathaway, Boeing, Johnson&Johnson, GE, Pfizer. For me, its doing well. Im not taking big risks, Im viewing it as a savings account and I always reinvest dividends.

Basically, im just trying to get my life straight. Im also trying to develop better lifestyle habits too, not staying up late, eating healthy, drinking enough water and stuff like that. Maybe I am trying to think about too much and should just do 1 thing, problem is, IDK what that 1 thing should be!! I feel like I waited 25 years to be responsible so Im getting all the stress from trying to break years and years of slacking and bad habbits .

I don't have any friends that I can talk to about this stuff which is another area of my life I need to improve on. I am so tired of associating with unintelligent losers with no drive. Im afraid that I wasted 25 years of my life.

I know this was a mess, I apologize. Just wanna stress Im not expecting anyone to read & respond to all of this. I was just hoping someone who could relate to an area of this could share some experience they had, just a sentence or two even. The more detail the better but I realize im asking perfect strangers to spend their time to be my life coach lol.
Thank you, thank you thank you thank you.
submitted by JTDillon99 to personalfinance [link] [comments]

The Economics of the Current State of BTC

(Tried to post but I think it got auto-mod deleted? Not sure why...?)
The goal of this post is not to convince you one way or another, but to start a discussion. Disclaimer: my “formal training” (aka academia) is in economics and psychology - a combination I thought could help get a full grasp on the world of finance and how markets work. Second disclaimer: I’m a huge proponent of the free market and a libertarian, go figure. I’m also blessed with a life that allows me to make some risky (although not fuck it yolo risky) moves, so I’ve got about a 20% exposure to crypto total, spread across A few, although weighted about 75% towards BTC.
Ok, now that all disclaimers are out of the way, I want to create a dialogue about the economics behind Bitcoin. The goal is not to bicker about what “should” happen in an ideal world (I am a Libertarian, after all, so in my perfect utopia the answer is bitcoin, assuming the transaction issues get addressed), but to discuss the most probable outcomes.
Like I said - trying to open a discussion about the economics of BTC today, not the ideology behind why it SHOULD or WILL or WILL NOT succeed for the greater good. These are just meant to be some high level talking points. Really interested in COUNTER points more than anything...
Go on then...
submitted by pfthrowaway12317 to Bitcoin [link] [comments]

Credit cards--the more the merrier (assuming you're responsible)?

Since opening my first card last summer after graduating college, I now have 5 cards: 3 with my bank (Chase), and 2 store cards I foolishly opened and never activated or used (stupid spur-of-the-moment decisions based on the advice that store cards are a good way to increase credit). The last time I checked my credit score (when I opened my last card a few months ago) it was 709.
I'm actually living abroad right now, so technically I won't have any important credit-based decisions (e.g. car loans) for at least another year or two--which is good, because my score needs to recover from all the cards I've opened. I'm interested in monitoring my score, and the Discover It card seems more and more appealing as I look at it; no annual fee, forex fee-free, and free monthly Fico statements. I've also heard that it's good to diversify and not bank exclusively with one company.
Should I open another card? I never spend money I don't immediately have, and I pay everything in full; I'm just not at a point in my life where I need to worry about money, and I won't be for at least a few years. I just want to increase my score, and better my chances for loans/mortgages when the time actually comes. Though my income is a modest ~$20k, I have that much in savings and have no pressing expenditures other than the basics for living (housing is provided).
It seems the only downside to having more cards is the initial ding on the score (they won't affect my score by the time I get back to the states--better get them now than later, right?); and, the temptation of not using CC's properly. Both of which won't be an issue. Is there anything else wrong with acquiring more fee-free CC's?
One more stupid question--is it easy to pay off a credit card that's not tied to your checking/savings bank? Like, do I just provide my bank acct number so I can do it with a mobile app? I don't actually physically have to be in the states to set up the payment and everything, right? Thanks for your advice!
submitted by bears2013 to CRedit [link] [comments]

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