Money

By now, you’ve probably heard the phrase “tax write-off” thrown around like it’s some kind of financial panacea. It seems so appealing, right? Spend money on something, anything, and—bam—you get to reduce your taxable income.

But here’s the reality many don’t talk about: in the rush to write off expenses, some people end up spending a dollar just to save a nickel. Let’s break down why that’s not just bad math, it’s bad strategy.

[Read more…] about Spending a Dollar to Save a Nickel: The Misguided Chase for Tax Write-Offs

Let’s talk about something that seems small but can have a massive impact on your financial future: management fees. Specifically, those sneaky little 1% fees that many people don’t pay enough attention to. You might think, “1%? That’s nothing.” But let me tell you, over time, that 1% can turn into a giant drain on your retirement savings.

[Read more…] about What a 1% Management Fee Does to Your Retirement

If you’ve spent any time on social media lately, you’ve probably seen them: the self-proclaimed “entrepreneurs” and “influencers” who seem to spend their days lounging in mansions, driving exotic cars, and posting motivational quotes about hustling and grinding. They promise that if you just buy their course or join their program, you too can have a life of luxury and ease. But here’s the thing: most of these people are full of shit.

[Read more…] about Why Those Lamborghini-Driving “Gurus” Are Full of Shit

I recently finished high school, I’ve never had a job currently looking for one to help me start a business or something. I am poor and my family is too, I want to become rich to get my family out this hell. I need help!

How do I become rich from nothing. Like how do people do this, I’m struggling and wasting time. Also do not say go to college, blah blah blah… I don’t wanna go to college. Please help me

[Read more…] about “How do I get rich from $0”

We’ve all been there. You’re standing in the grocery store, comparing the price tags on two brands of peanut butter. One costs a dollar more, but you’re not sure if it’s worth it. You start to wonder if you’re being frugal or if you’re just being cheap. What’s the difference, anyway? And more importantly, how do you know when you’ve crossed the line from smart spending to penny-pinching?

[Read more…] about The Difference Between Being Frugal and Being Cheap

Hey guys the new model 3 is now at 1.99 APR for a 3 year loan and I really want one for the tech (not cause it’s an EV or any political/environmental reason) I am 27M.

My current financials situation is I make 90k a year, net worth is 160k, no student loans, no mortgage, no credit card debt, no car deb [paid off] worth around 18k. I know car is a horrible financial decision but I don’t spend on anything. I know I could not buy one and keep saving/investing too but idk

Yes, technically you can afford to get the Tesla, but let’s take a step back and look at this from a different perspective. You mentioned that you know a car is a horrible financial decision, and you’re absolutely right. Here’s why:

[Read more…] about “Can I afford a Tesla?”

My wife and I have been married for about 10 years and have two small kids. We both work, but we have separate bank accounts (partly because she is bad at managing money), though we do split bills, etc. My job pays a bit more. Recently, some bad financial stuff has come to light.

About 6 months ago, my wife revealed to me that she had racked up about $10,000 in credit card debt, and the interest was getting away from her. At the time she told me, it all suddenly made sense why she had been asking me for money at the end of the month for several months running—it was because she was struggling to pay off the debt. After a tough conversation, we got a low(er)-interest bank loan to pay off the credit cards, and we worked out a monthly payment plan to get it paid off within 3 years.

[Read more…] about “I just found out wife secretly racked up $30k credit card debt.”

Hey there, folks. It’s time for a little dose of financial tough love, so buckle up and brace yourself for some hard truths. I’m talking to you, Mr. or Ms. “I-need-a-massive-$80,000-truck-to-feel-good-about-myself.” It’s time to wake the hell up and realize that financing this behemoth of a vehicle is a colossal waste of your hard-earned money.

[Read more…] about Don’t Let Your Truck Payment Steal Your Future

I (25F) recently bought my first car and dropped 50k as a down payment for a brand new Lexus. (a really dumb decision, I know.) I feel super regretful because I let myself succumb to the pressure from my mom and friends to finally buy a car since I landed a higher paying job. I hope to have a family and buy a house one day but I cannot help but feel like I put myself in a poor financial position where I will probably never achieve that. Am I still doing okay financially?

[Read more…] about “I regret buying a new car”