Ask HN: How do you manage and budget your monthly income

Re:Ask HN: How do you manage and budget your monthly income by joe_91 on Saturday January 02, 2021 @10:39AM (#25613484)

After paying off existing debt the next best thing once you have an emergency fund covered is stocks and maybe a little crypto if you're feel like future proofing yourself.

The yield on government bonds is really low at the moment and p2p loans can be finicky at best (I've lost more money than I've made from Mintos...).

Stocks have been giving great returns over the last few years and while there's almost certainly going to be a correction at some point its the only real place where you can get proper returns at the moment. You could invest in ETF (Exchange Traded Funds) which track certain buckets of funds like the S&P500 or invest in stocks individually.

Get yourself setup with a trading account - this varies by country and they have different fees etc but google should be able to sort you out here.

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Re:Ask HN: How do you manage and budget your monthly income by ipop on Saturday January 02, 2021 @03:03PM (#25615953)

I don't have the necessary financial knowledge to learn how to trade efficiently. I know it's now just buy low, sell high. The problem is when and what to buy.

The only thing that I could do regarding this is use a platform like etoro and their copy feature.

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Re:Ask HN: How do you manage and budget your monthly income by joe_91 on Saturday January 02, 2021 @04:21PM (#25616651)

Thats the great thing about Exchange Traded funds which track an index - there's no thinking to do just invest in the fund for example this is a popular one: Vanguard S&P 500 ETF (VOO)

And when you buy this you are effectively buying, Apple, Amazon, Google, Johnson & Johnson, Procter & Gamble Co, NVIDIA etc because the fund will go ahead and buy all the largest 500 US companies weighted by market cap.

The S&P500 has returned an average of 12% a year for the last 10 years.

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Re:Ask HN: How do you manage and budget your monthly income by ipop on Sunday January 03, 2021 @11:14AM (#25622595)

Found something interesting - https://www.upmyinterest.com/article/investportfoliolt

SP 500 was -5.9% in 2018, but it went up to 31% in 2019...pretty fair.

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Re:Ask HN: How do you manage and budget your monthly income by ipop on Saturday January 02, 2021 @03:03PM (#25615960)

crypto...I wanted to buy btc when it was 16k, then thanked myself I didn't (it crashed to 8k) and now it traded for 25k+...same with XRP

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Re:Ask HN: How do you manage and budget your monthly income by quickthrower2 on Saturday January 02, 2021 @09:37PM (#25618820)

If you want to dabble you could buy a little bit each month over a few years. Whatever you can afford to lose. You’ll the buy the dips as well. With bitcoin no one knows the “true value” and it’s hard to assess like a stock.

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