4 ms·
With platforms like robinhood, and the trend toward lowering the bar to investment, even people like me ( <3% of income is "disposable" (which in and of itself
by getoveritbruh 7y ago
With platforms like robinhood, and the trend toward lowering the bar to investment, even people like me ( <3% of income is "disposable" (which in and of itself probably isnt true as I have student debt)) can start doing SOME investment. Ive been poor my whole life, and have made a point since my teens to keep savings. Only recently did I begin investing however. This is a result of benig surrounded by people who don't make enough money to buy the things they do. Everyone has a choice of how to spend there money. To pretend the 12 bucks you spent on PBR and cigs is a better way to spend the money than to put it towards savings is the crux of the problem according to my personal experience.
- fzeroracer 7y agoI'm curious by how you define being 'poor' since you say you had savings as a teen. When I was a teen, being poor meant that even if you put that $12 away for another day, it'll just be used the next day to fill your tank. It's not really saving money if you're just putting off buying gas for your car.
- npo9 7y ago> To pretend the 12 bucks you spent on PBR and cigs is a better way to spend the money than to put it towards savings is the crux of the problem according to my personal experience. Expensive habits are terrible for your personal finances. I like to look at habits like that in a weekly, monthly, and yearly cost. Seeing that a $40/week habit is $2,080/year really helps me put my spending choices in perspective.
- 83457 7y agoMy concern with something like robinhood is that many people treat investing like gambling without realizing it until there is a down turn and the money they saved for years is wiped out.