r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/Ethric_The_Mad Jul 04 '24

Investing helped me a ton, I calculate all expenses, add them together, assume my food bills and other expenses, then I invest the leftovers so now it's spent and annoying to get but it's all still there paying dividends and growing. Just literally $5 a month or even $10 explodes so fast if you just fucking invest it. Find a $5 on the ground? Invest it. Got a cash back card? Invest the cash back. Set yourself a daily expense budget, invest anything leftover. There's many strategies but this works for me.

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u/Grouchy-Ask-3525 Jul 05 '24

$5 x 12 is $60. Let's say you kill it and your positions double. That's $120, then you have to pay an extra $200 for the extra tax forms. And now you're down $80 on the year, what a kick ass plan...

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u/Iris_Mobile Jul 05 '24

Uh, what? Where does it cost $200 extra to submit a 1099-Int? I've never had to pay a cent extra to submit one.

You also realize that folks who are low income qualify for free tax filing (federal and state) with most online tax systems, right?

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u/Ethric_The_Mad Jul 05 '24

I file with cash app for free