ITT a breath of fresh air. I am not alone in having an interest in personal finance, and understanding the basics of it.
Most of my interactions on lemmy so far have been making me feel guilty (and downvoted) for saving some money like I was a dirty billionaire, and to invest in index funds, using capital to further oppress the masses.
In Australia, at least at the beginning, bnpl services managed to bypass all money lending regulations based on the fact that they don’t charge interest. I know that there were discussions about fixing that but haven’t been following the topic in a while.
Like the other person, I also assume you meant lenders, not borrowers. Lenders WANT people that are terrible with their finances. Visa makes very little with me paying off my credit card in full every month, just some merchant fees. On the other hand plenty of Australians are in constant credit card debt and pay something like 18-22% interest on the money they borrow.
Good on the Dutch government to try and control that.
We both know that stuff will never be used again!
I think the answer is in your first sentence, personal finance literacy. At least in my case reading about it, learning the basics (six months expenses emergency fund, pay credit cards in full every month, invest in ETFs…) and understand other people’s strategies is all it took. Hate to say it but I owe reddit one for all that knowledge.
Ah the person that complains they had to tap into their investments because you need to periodically get a new bed and redo your deck and can’t save money. Yes I got downvoted for providing basic personal finance recommendations there!
I think the problem is a combination of the things you mention, and the fact that society is just normalising stupid spending, waste of resources and spending everything you earn, if not more.
When on reddit, I was active on personal finance subs. The amount of people asking for suggestions on how to improve their budget that didn’t see anything wrong with 10-12 subscriptions for shows and music, on top of astronomic phone bills, eating out etc was crazy. At least they took the first step, wrote down their expenses, and were asking for help. The bed/deck guy was just pure madness.
Indeed, and once she deletes the bnpl app, she’ll use credit cards to buy useless shit like she prolly did before.
I think me and you have been successfully clickbaited though, the journalist looked for such an extreme example to cause outrage, have the article linked on various aggregations, and be discussed.
How long is a piece of string?
Depends on how much you earn, what are your expenses, and how much you have saved already.
You are barely keeping up with inflation, don’t think that’s an investment. That said, you are doing the right thing, keep that money available if needed.
Everything on top of 6 months expenses, you should invest in something less liquid that on the long term yields decent returns.
You seem to be in a very unique situation. And to have a pretty good understanding of personal finance and of your risk appetite. What you say works for you and a few people that happen to have access to universal healthcare, what looks like four separate insurance policies, and that can manage not to fuck it up with credit cards.
6 months liquid emergency fund remains the best strategy for most people out there.
Would certainly suck if those six months worth of emergency fund had temporarily gone down to four months because of a downturn in the stock market though.
Accidentally there might also be some correlation with stock markets going down, and an emergency happening. Eg large company laying staff off.
That said you can do the math and see how much that money would return on average on etfs compared to a bank account, and decide if that’s worth the risk to you.
Experts say no, I agree with them but I see your point, and it’s definitely worth to challenge these suggestions.
You are right, but you are going against the narrative of to this post, hence all the downvotes from the angry mob.
If you asked me who a prime time news anchor on 1980 would vote for, I would have no idea.
We are probably from different countries but I agree and interesting point.
A good bible burns slowly and hot.
So every time you have a couple new pics that you would upload to an online, album and share with your family/friends, you instead put them on a bunch of hard drives that cost 40 bucks each and post one to every contact?
Can’t say I disagree with your proposed treatment of Nazis. That said I wonder if you mistakenly replied to me instead of someone else? My point is that joining a cult for sense of belonging is not necessary, there are other ways to fulfill that need.
Before the Nazis Christianity was hijacked by the Spanish inquisition, and after the Nazis by pedo rings. I don’t see other organised religions performing much better either.
Sure, and yout point is?
I’m not convinced, sounds very much like when they say if you don’t follow religious morality, how can you have any morality at all.
There can be, and in many places there is, community, social life, sense of belonging and all that stuff outside of groups of lunatic happy clappers.
Find some volunteering group, you’ll get tradition, community and being part of something bigger, prolly not the music though. Where I am we are big into Emergency services, they are mostly run by volunteers but really you can find whatever works for you from animal shelters to helping people with personal finance if that’s your niche. , No need to waste time idolatring an imaginary friend that doesn’t reciprocate, you can do some actual good and feel good!
Thanks but no thanks
This part made me think you were saying that was an investment, sorry I misunderstood