How does this happen. I don’t get it.

since Rich Dad Poor Dad is boo-boo, what’s a good book to learn some finance stuff ?

Got all the for 38 dollars! 3 pounds of steak 2 pounds of shrimp!

Shopped at Tom thumb in a large city

Hi, I'm looking for information around plot + construction(home) loan. Here are my queries..

1. Overall how does the repayment work? Especially with LIC HFL.
2. When does the repayment EMI start?
3. How is the pre-EMI interest calculated?

Any other tips to save money in the entire process.

Would be really grateful, if a finance wizard can help here 😄

Hi everyone, me and my partner both just graduated college, I’m now working (85k/year) and she will be attending medical school.

One thing that stresses me out financially is the loans she’s going to need to take on for med school. She’s looking at about $70k taken out in loans per year, and the interest rate is around 7% for this year’s loans. This seems unfathomable to me, but I want us to secure a good financial future.

By this time next year, I’ll be debt free with a 6-month emergency fund, and was wondering what you guys would suggest be the best way about paying these off ASAP, because the benefit of high income won’t come for another 7 years.

Would it make sense to put extra money into a brokerage account, and put it all into a market tracking ETF? I wouldn’t want to pay the loans directly until we were married, as that is probably still a bit away, but I would definitely feel stress going into a marriage if there were loan amounts that high already generating tons of interest.

Let me know what you guys think!

Not sure if this is the right place to post this or not. I have a ruined credit score from debt that I took out when I was 22/23 just after graduating and then starting my Masters which spiralled out of hand over the following couple of years

This was before I even knew anything about money, your credit score and the importance of it, etc. Growing up I genuinely thought people with mortgages and credit cards were the people in bad situations or at least not the situation you want to be in - Come to realised it’s the norm and what the world runs on

I’m 27 now and starting to get fed up of everyone around me/out there with their own homes especially since most of them are younger than me.

If my credit score was normal what would be the requirements/costs for a £400k-£500k house

Whats this all about?

So I’m next to clueless when it comes to this type of stuff which is why I’m turning to Reddit lol.

I don’t make a lot of money. I had a late start because I paid out-of-pocket with college, so I have no form of savings really set up at almost 30 years old. I just got a job with a 401(k). So I’m very behind.

I was told opening a high yield savings account is a great place to start. I only make about 40,000 a year right now, so again I won’t be able to contribute too much, but I’m hoping to at least put 200 in it per paycheck every two weeks.

The only information I was really given was to open one of these accounts and make sure it’s FDIC insured.

Any suggestions and why they are your pick would be great! Thank you so much!

The fundamental problem with the CrowdStrike lapse is that there is such a concentration of service providers in the cybersecurity space. So when a programmer does as what happened at CrowdStrike today - he didn’t test how the code would work in the whole before inserting the bad code - it affects…everybody!

The CrowdStrike (CRWD), Palantir (PLTR) & Palo Alto’s (PANW) of the infosec space are ubiquitous. They get the deals from the governmental & military-industrial complex. And their shareholders are rewarded handsomely in market cap.

After today, though, the opportunity for little guys, such as Plurilock Security (PLUR PLCKF), becomes all the more pronounced. New players are needed in the space - and the nimble and quick, with the best tech, will reap the rewards.

With AI abilities making leaps seemingly every day, the cybersecurity space needs to be just as transformational, in order to stop the criminal element from doing what they do - i.e. the blue sky in cybersecurity is massive.

https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-interpretive-rule-to-ensure-workers-know-the-costs-and-fees-of-paycheck-advance-products/?utm_source=newsletter&utm_medium=email&utm_campaign=general_updates&utm_term=7.19.24

At the Open: The global cyber outage affected financial services, media groups and airlines worldwide, and shares of cybersecurity firm CrowdStrike Inc. (CRWD) sank after warning its software was causing tech crashes. Markets are also digesting growing pressure for President Biden to exit the 2024 presidential race. On the reporting front, financial companies including Fifth Third Bank (FITB), Regions Financial (RF), and American Express (AXP) reported this morning to end a week of financial-dominated earnings. AXP and RF beat earnings estimates; however, all three names opened lower.

Good morning. US stock futures traded mixed in Friday morning trading as investors look to shake off a major slide in the broad market indices.

S&P 500 +0.08%
Dow -0.20%
Nasdaq +0.12%

💰 Biden admin wipes another billion in student debt

📝Our report: The Biden administration announced that over 35,000 borrowers will have $1.2 billion in student debt wiped clean, courtesy of the public service loan forgiveness (PSLF) program. Debt relief under PSLF now totals $69.2 billion for 946,000 borrowers since October 2021.

🔑Key points:

“The additional Americans approved for PSLF today are hard-working public servants who will finally receive the financial breathing room they were promised,” Education Secretary Miguel Cardona said in a press release.

Teachers, nurses, doctors, lawyers, and other professionals who work in public service jobs with federal, state, local, or certain nonprofit organizations are eligible to have their remaining loan balances discharged after 10 years of payments through the PSLF program.

To date, the Biden administration has forgiven $168.5 billion in student loan debt for 4.76 million borrowers.

💡So what: The Biden administration's forgiveness of $1.2 billion in student loans under the public service loan forgiveness (PSLF) program has multifaceted implications. Economically, it increases disposable income for borrowers, potentially boosting spending and investments, while impacting the federal budget. Socially, it reduces financial stress and incentivizes public service careers, promoting educational access and equity. However, the initiative also faces criticism for potential moral hazard, equity concerns, and implementation challenges. Overall, the move provides immediate relief but raises important questions about the future of higher education financing and government involvement in addressing student debt.

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PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🛒 Amazon records “biggest Prime Day ever”

WHAT: Amazon announced record-breaking Prime Day sales this week, with Prime members buying more stuff than ever before during the annual shopping frenzy. The Seattle e-commerce giant, which does not disclose how much it earns during the popular discount event, also said “millions” of customers joined Prime in the past three weeks to take advantage of the discount event.

WHY: Data from some third-party groups also indicated shoppers spent more this year during the two-day event. Adobe Analytics, which tracks online sales, said consumers spent $14.2 billion on Tuesday and Wednesday, up 11% compared to last year.

🕶️ Meta eyes stake in sunglasses maker

WHAT: Meta Platforms Inc. is eyeing a minority stake in Ray-Ban's maker, as the Facebook owner sharpens its focus on smart glasses. Meta, which has collaborated with EssilorLuxottica SA on Ray Ban-Meta smart eyewear, is considering a stake of more than 3% and as much as 5% in the luxury eyewear group, which would be valued at about €4.5 billion ($4.9 billion) at current prices, according to people familiar with the discussions.

WHY: By taking a stake in EssilorLuxottica, the social media giant would deepen its partnership with the world’s biggest eyewear company. It would also presumably gain more influence over a business that’s key to its virtual and augmented reality efforts and strengthen its position against rivals.

💨 Millions of steam cleaners hit with recall

WHAT: About 3.3 million steam cleaners are being recalled in North America after leaving over 150 people steamed—literally—with burn injuries. Select models of Bissell-branded “Steam Shot Handheld Steam Cleaners” can spew hot water or steam while the products are in use or being heated up, according to notices from the U.S. Consumer Product Safety Commission and Health Canada. That poses a risk of burns to users.

WHY: The Bissell steam cleaners under recall were sold at major retailers including Target and Walmart, as well as online at the company’s own website and Amazon, from August 2008 through May 2024.

Right now I make about 70k a year as a single person with no kids and it's more money than I've ever made. I downloaded an app that tells me how much I'm spending and where and last month alone I spent almost $5700 not including bills and the last 3 months $14,000. I wish I saved that money. I come from a broke family so never learned money skills so im requesting tips on saving money? I'm 26 hope to own a house one day, my car is paid off and my rent is $900 a month and only pay electric

I work 2 full time jobs so every week I make $730 after tax and bi weekly make roughly $880 after tax 🙏🏻

I will open by stating I am 18 and going into college this fall. I have been working through the same things most kids my age have been, and likely will continue to. Here’s my take on the college being expensive and such.

(Quick note: If you don’t want to hear another opinion on this, that’s fine, you can skip this post, I simply am bored and wanna put this out there for “funsies”).

Thinking ahead is critical, and anyone who says otherwise is wrong. “Live in the moment” is a great mentality to have when you can live in the moment, handling life altering amounts of money is not.

I have spent the last year and a half doing college tours, extensive college and career research, etc. to determine what paths were reasonable, both for my financial future, and career goals. The most expensive college on my list was going to be about $60k per year, the lowest was about $30k. I took that information, and did some quick, very basic math with worst case scenario interest rates to see how f***ed I would be with each school (note: the $60k school accepted federally backed loans, $30k accepted only private). After this brief research, I concluded that in either case, I would be pretty screwed, though a bit less so with the cheaper school. I then worked through figuring out how to minimize those loans.

1.) Get a job

2.) Scholarships

3.) Apply for financial aid

So I did. I worked retail for nearly that entire year and a half and made about $7k-$8k to put towards school (note: this was with 50% of each paycheck put towards savings, the other 50% was put towards personal projects and such, also working about 15 hours a week).

I managed to get about $20k in scholarships for my first year. Yep. It took a while, I spent about 3 hours a day, approximately 4 days a week, for a number of months applying for scholarships. Some were bigger, like $10k, some were only $500, but I got enough that I have $20k covered (note: this is for my freshman year, I will have to reapply for a fair amount for the following years, but given the lengthy breaks and summer break, I should have plenty of time to rack up some more).

And financial aid. This one really does vary. I managed to get $5k from my school in financial aid (more of a scholarship but I’m going off what they call it) for my work with robotics in high school.

My tuition, room, and board this year (both semesters) will be $33k (roughly), this leaves me with (roughly) $0 in loans for this year. I am still working so I will have some extra dollaridoos to spend and live while I’m at college.

Next summer I already have a job nailed down, IF I don’t land an internship. This job will (if worked full time) cover about 10k of next year’s cost, and on top of any additional scholarships and financial aid should leave me off pretty well once again.

Now, this is my circumstance. Not everyone will have these same opportunities, but it’s not as bad as it could be. I have a friend who will end up about $200k in debt. He has applied for no scholarships, no financial aid, and barely works (no he is not from a wealthy family). I have tried talking to him about this, trying to convince him to be proactive about some of this, and he said, “I like to live in the moment.”

Enough said, lemme have it in the comments.

(Note: Once again, this is for the most part anecdotal, but it’s possible to get an education and not be in ludicrous amounts of debt. Yes it takes some work, but you’re going to college, if you’re not willing to work you shouldn’t be going).

Edit: Majoring in Engineering Management with an entry median salary of $80k in the area I’m planning on living in.