Hey guys, I am currently working 3 jobs to help make sure that I can afford rent for a home next year. However, I have a habit of spending money as soon as I get it, so what I wanted to do was find some sort of account that would have limited liquidatability.
My first thought was for a few short term b or c class bonds, but the problem is that I will need to keep adding to the principle. So, I'm not sure how well that would work out... going and buying 1000$ worth of bonds every month dosn't seem to make much sense when I could have one account that I could keep adding to.
Then I thought of a money market account, but they're so heavily subject to fluctuation it might not even be worth my time. The benefit though would be the limited liquidatability.
Mutual funds and straight stock investment are another idea that passed my mind, but I'd like to avoid brokerage fees if at all possible.
What other options are there that I'm missing? I was hoping for a higher return than a normal savings account at my credit union would provide, so, any ideas?
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Quote:
3 jobs to help make sure that I can afford rent for a home next year.
there's the first problem you need to address - why the hell are you paying RENT. pay a mortgage, start there. it's an investment in itself, real estate is yesyes. three jobs to make rent? jesus man...
money markets aren't as scary as you're making them sound, they're just crappy and don't make a lot of money. that's the point of them - less risk, less turn.
seriously though. real estate. start with buying a house. stop paying rent, you're just throwing your money away.
Buy alot of pot and sell it at your local middle school for $45 a quarter ounce.
Although Acid is more profitable.... $100 a sheet, $5 a hit = $400 profit.
Although Acid is more profitable.... $100 a sheet, $5 a hit = $400 profit.
The One and Only scubamage wrote:
Hey guys, I am currently working 3 jobs to help make sure that I can afford rent for a home next year. However, I have a habit of spending money as soon as I get it, so what I wanted to do was find some sort of account that would have limited liquidatability.
My first thought was for a few short term b or c class bonds, but the problem is that I will need to keep adding to the principle. So, I'm not sure how well that would work out... going and buying 1000$ worth of bonds every month dosn't seem to make much sense when I could have one account that I could keep adding to.
Then I thought of a money market account, but they're so heavily subject to fluctuation it might not even be worth my time. The benefit though would be the limited liquidatability.
Mutual funds and straight stock investment are another idea that passed my mind, but I'd like to avoid brokerage fees if at all possible.
What other options are there that I'm missing? I was hoping for a higher return than a normal savings account at my credit union would provide, so, any ideas?
My first thought was for a few short term b or c class bonds, but the problem is that I will need to keep adding to the principle. So, I'm not sure how well that would work out... going and buying 1000$ worth of bonds every month dosn't seem to make much sense when I could have one account that I could keep adding to.
Then I thought of a money market account, but they're so heavily subject to fluctuation it might not even be worth my time. The benefit though would be the limited liquidatability.
Mutual funds and straight stock investment are another idea that passed my mind, but I'd like to avoid brokerage fees if at all possible.
What other options are there that I'm missing? I was hoping for a higher return than a normal savings account at my credit union would provide, so, any ideas?
You could look into short term CD's. I think you can find these for 6-12 months? I'd have to check. You won't make a whole lot off them but you would at least have the money in a place where you couldn't get your grubby hands on it.
The only problem is I'm a college student. I'm not interested in real estate when I'm going to be going to grad school in 2 years.
I have to rent a home next year because the college is raising rates to live on campus by another 3 grand, and I can't afford it. So I work 2 work study jobs, and I work at a gas station.
Believe me, I would love to have some real estate under my belt, but it doesn't look like it'll happen for awhile.
I have to rent a home next year because the college is raising rates to live on campus by another 3 grand, and I can't afford it. So I work 2 work study jobs, and I work at a gas station.
Believe me, I would love to have some real estate under my belt, but it doesn't look like it'll happen for awhile.
Quote:
The only problem is I'm a college student. I'm not interested in real estate when I'm going to be going to grad school in 2 years.
I have to rent a home next year because the college is raising rates to live on campus by another 3 grand, and I can't afford it. So I work 2 work study jobs, and I work at a gas station.
Believe me, I would love to have some real estate under my belt, but it doesn't look like it'll happen for awhile.
I have to rent a home next year because the college is raising rates to live on campus by another 3 grand, and I can't afford it. So I work 2 work study jobs, and I work at a gas station.
Believe me, I would love to have some real estate under my belt, but it doesn't look like it'll happen for awhile.
Try to buy a house anyway. Buy in a planned neighborhood near the end of its development. As long as the last lot hasnt sold yet, and there's a house for sale, you may come out like a fat cat. When the last lot in one of those places sells, the price of homes there usually jumps quite a bit, typically 20 grand or more in neighborhoods where the building price is ~150k (Around here you can build a nice 4 bedroom 3000 sq ft home for that.) Why? Because anyone who wants to live there has to buy a home from someone who already owns one instead of just buying a lot and building. Real estate is still a good investment; and probably will be for the rest of our lives.
If you can buy like I described, you can sell out when you leave for grad school and make a decent nest egg in the process. Plus, if you do nothing but break even on the house, all the interest you paid was tax deductible and you STILL didn't pay rent.
The problem is that I can't afford to buy a house next year, nor can I afford to buy a plot of land to resell. I need to have a roof over my head next year.. and a tent won't cover it.
Sorruy if they typing is a bit offish... been drinking way too much
Sorruy if they typing is a bit offish... been drinking way too much
Send it to me, I will put it in a safe place.
Quote:
The problem is that I can't afford to buy a house next year, nor can I afford to buy a plot of land to resell. I need to have a roof over my head next year.. and a tent won't cover it.
Point taken. I suggest you learn to be miserly with your money. Make and adhere to a budget.
If you can do that, you have my vote for a seat in congress.
Hiding and otherwise locking away your money is only as good as your intentions remain.
There is always the drug thing, too. Roll your eyes if you like, but that IS an excellent short-term rollover, provided you don't get your butt caught.
TStephens wrote:
There is always the drug thing, too. Roll your eyes if you like, but that IS an excellent short-term rollover, provided you don't get your butt caught.
That's too funny. The mental image I got when reading this was the guy from Seasame Street back in the early 80's who used to come up to Ernie in the trenchcoat singing 'Would you like to buy an O'.. 'only a nickel'
Man to buy an 'O' today for a fin.. I think I drew the parallel because a kid on the message board getting advice to push some dope to make a few bucks.
Had to share, made me laugh.
Are you looking to invest or put your money somewhere where its harder to get to?
If its the latter, you can also check outING . Its a savings account you get online. Rates are decent, and they transfer your funds from your checking/savings to their own bank. If you want it back though, it usually takes 3 days for it to transfer. So you have 3 days to make sure its what you really want.
their interest rate for their savings is 2.35% which isnt shabby at all.
If its the latter, you can also check outING . Its a savings account you get online. Rates are decent, and they transfer your funds from your checking/savings to their own bank. If you want it back though, it usually takes 3 days for it to transfer. So you have 3 days to make sure its what you really want.
their interest rate for their savings is 2.35% which isnt shabby at all.
Kelvyquayo the Hand wrote:
Buy alot of pot and sell it at your local middle school for $45 a quarter ounce.
Or sell it in Santa Barbara for the going rate of $150/quarter ounce.
Mindspirals wrote:
Kelvyquayo wrote:
Buy alot of pot and sell it at your local middle school for $45 a quarter ounce.
Or sell it in Santa Barbara for the going rate of $150/quarter ounce.
Jeebus you guys pay a lot for weed. Here it is only about $200-220 CDN for a full Oz. Which works out to like $180 US I believe.
Not that I would know or anything.
Hell, I had no idea weed was so expensive. I'm not a partaker, so I always assumed it was somewhere in the price range of drinking. I know a lot of folks who smoke, but I've never really been interested in that aspect of their lives enough to find out what they're paying. Now I know why they never have any $$. Their dealer got it all.
I may have to look into a second career, what with my farming background and all that.
I may have to look into a second career, what with my farming background and all that.
Mindspirals wrote:
Or sell it in Santa Barbara for the going rate of $150/quarter ounce.
Jeebus... prices around here can go anywhere from 80-450 an ounce... still, sounds like its a lot cheaper here.
Anyways, i am looking for a temporary investment.. hence the title of the post. However in the means of investment I'd also like the lack of liquidity... so, essentially, I want both. I want to get a return on my investment, but I also want to make sure I can't put my hand into the cookie jar before I'm supposed to.
Anyways, i am looking for a temporary investment.. hence the title of the post. However in the means of investment I'd also like the lack of liquidity... so, essentially, I want both. I want to get a return on my investment, but I also want to make sure I can't put my hand into the cookie jar before I'm supposed to.
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