Hey guys during the past years I've barely made enough money for food (yes live in a third world country) now I'm finally making enough money to have some 200 extra bucks at the end of the mind, and while that's probably nothing to some of you here I was wondering if you had any recommendations on what to do with us as I feel leaving in the bank in a country with extreme inflation like mine will make it decrease it's value quickly #personalfinance #investments
Invest in US S&P ETF if this isn’t $ you plan to take out in next 5-10 years. Otherwise gold. Another option could be some sort of class/training to invest in yourself, or starting a side hustle.
Any ideas on side hustling? I've read some online but don't really feel make sense
What are your skills? What kind of environment do you live in?
Depends on the country as in what’s available, but the options that come to mind are investing in etfs (safest), market (US ideally), gold (meh), and crypto. I’d go with bitcoin honestly, but that has the biggest risk of all. You don’t sound like you’re at the point of investing though, make sure to build an emergency fund first, contribute to retirement, and only then invest. r/personalfinance has good information
Truth is, I barely even have clothes, most of it is like 10+ years old from when I was a teen, however I everytime I want to buy something I feel bad about it, because I think I am being selfish, as I also maintain my parents and me buying things without them makes me feel bad
I hear you. Your best bet is to improve your job and make more money. Until then, make a plan, what % of what’s left should go to your parents and what % to you? Create different accounts and separate the money, save “me money”, you might still feel bad to spend it, but it’ll be easier to handle it then.