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Help me save up and move out! - Page 6

post #76 of 85
Living at home can be problematic but I've had bigger issues with roommates. I really don't want to go down that road again, save for 1 or 2 good friends that I have lived with before.
post #77 of 85
paying for shit on your own sucks.

my bills are about $1000 per mo. for a 1/1 (cheap, but this is $12,000 / year I could be saving). throw in another $500 per mo. for food that i spend per month and you've got a ton of money that could be saved.

to the OP: my salary is pretty much double yours -- this is not a gloat session-- (could be more since you live in LA and your taxes suck) and i'm still kind of "struggling" in the sense that i still have to scrimp a ton just to save a few bucks a month.

especially in this shit economy man i really suggest you stay at home. i wish i had the option to.

oh and don't bar creep dude.
1) STDs is no joke. that is some scary stuff man
2) the girls you meet will almost always have dragon breath when you wake up (dine and dash my friend!)
3) sometimes you meet some crazy chicks that will come to where you work and cause problems
post #78 of 85
I haven't lived with my parents for more than 6 months since I was 17 years old. I went to college at that age, and the only time I have been back home for a substantial time is a 6 month period when I moved to LA, couldn't find a job for 9 months, and eventually had to move back to NYC. I eventually moved back to LA after finding fulltime work, but for another year I was living with roomates in Monetery Park. I was 27 when I was finally able to live comfortably on my own. Between 17 and 27, I went to college, grad school, USMC, and moved west to Los Angeles. I now have a great job with a very competative salary. I may not have the savings that I would like, but I think i am doing better than most. However, the life experiences that I have gained over that time are irreplaceble. However, like someone mentioned earlier, my relationship with my parents (which were already strained) have been badly damaged since I have been away for so long.

As far as the OPs question, I think he should stay at home for 2 years and and save as much as he can. Having a solid $20k at 24 is a great way to start your life. You will need a car in LA, and since you are agetting in to the hollywood scene, I imagine that you will want to "floss". Please resist the urge to buy a car that you cannot afford. Get your self an older model civic or fusion for $10k and be done with it. If you think your car will get your laid, then your are in for a surprise. Most of the people in the industry will be dirt poor as well; no need to be another pretender. Work on your social skills and your game and it doesn't matter if you live at home, with roomates or in a pad in Malibu; the girls will come. With that said, you'd get a higher quality woman in your mid to later 20's than you are going to get now anyways.
post #79 of 85
did you move yet?
post #80 of 85
Thread Starter 
Quote:
Originally Posted by gettoasty View Post

did you move yet?


Far from it.

 

Another question: When I'm putting away $850 monthly into my savings account, how can I make it grow besides just leaving it in a savings account? Should I learn some basics of trading and open an account on OptionHouse? What do you all suggest?

post #81 of 85
Jesus don't trade your savings. Put it in a ING/Online account until you accumulate enough money for a CD or Money Market. Those are pretty liquid, are quite safe, but offer better than savings account returns. But it won't be much. When you get a decent rainy day fund (say $5k) then maybe you can open an investment account like a mutual fund. Please do not trade on your savings.

Anyway, instead of listening to the above, just don't trade on your savings. While you do that, read up on investing (not trading, investing) and maybe you will begin to understand how to manage your money.
post #82 of 85
Quote:
Originally Posted by BlacKidLA View Post



Far from it.

Another question: When I'm putting away $850 monthly into my savings account, how can I make it grow besides just leaving it in a savings account? Should I learn some basics of trading and open an account on OptionHouse? What do you all suggest?

Save a good 6K and put in a low interest, easily accessible savings accounts. That's your emergency fund.

With the rest, you can consider putting it in a passively managed index fund with low fees like Vanguard and leaving it there for the long-term.
post #83 of 85
Learn how to invest. I'd advise against dropping money straight into a fund. Many funds don't even beat the s&p, yet they still charge the fees.

Regardless you'd need to save a bit to invest anyhow. I'd say you'd need at least 2-5k capital to invest otherwise your risk is too high.
post #84 of 85
Quote:
Originally Posted by CYstyle View Post

Learn how to invest. I'd advise against dropping money straight into a fund. Many funds don't even beat the s&p, yet they still charge the fees.
Regardless you'd need to save a bit to invest anyhow. I'd say you'd need at least 2-5k capital to invest otherwise your risk is too high.

Vanguard has a great record and its fees are the lowest on the planet. Something like 0.15%. That's why it's a nice bet for someone with not a lot of money to invest.

I agree that the OP shouldn't start trying to pick mutual funds, though.
post #85 of 85
Move out.
For God's sake, move the fuck out! You want to work in a creative field, to be "in the mix," as it were, don't take the Asian accountant path in life. Nothing wrong with staying at home for a few months to save up first and last, maybe buy a cheap car, but don't start down the "avoid every risk, think only about financial security" path this early in life.
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