Money Smart (1 Viewer)

[jayz]

i am very much against the rise in HECS and subsequent increase in debts for many if not all uni leavers in the future, so as of such reason, just wanted to noe how everyone's financial life is coming along.

apart from this i'd also b interested if anyone would b interested in some sort of disscussion/help in order for others to avoid/escape the debt trap (maybe through forum disscussion or private lectures, etc)

or u may just b interested in investment, bcoz as u and i noe, university can only teach you how you can make money, but not how you can keep the money in your wallet.

(*plz b truthful abt the poll and i do realise this poll is biased, as many BOSforum users r better off than the general student population)

thx everyone

 

[Enlightened_One]

>300, whoever that is, is rich by my standards, but that ain't hard.

When i do actually work, which is once in a blue moon I get about a hundred a day. However there is only so much work to be done on the farm.

I'd like to know the tips and tricks of investment. Bring on the discussion

 

[santaslayer]

$100 every two and a half weeks.

 

[MiuMiu]

I make about $420 a week. But I work near full time hours, its not like im earning a massive amount for the work i do

 

[cro_angel]

i get around $130 a week from doing 13 hours.. (time and a half sundays) but during the holidays i was doing like $300-$360 a week
avoid the debt trap? umm dont get a credit card?

 

[redruM]

at the moment i am getting around $150 a week. thats working sundays and 2 hrs tutoring. sometimes if i get saturdays, i get another $100.

soon i'll be getting a second job, so i'll be getting around another $300 or so a week.

i have to save up for a car.

i think to save, make sure you get all your pay directly deposited to your bank, and not cash!

 

[braindrainedAsh]

My earnings are not stable. My work has been stuffing me around with hours.... you could say I earn $150 pw on average at the moment.... however I go home and work in my parent's business in hols and it depends what time of the year it is and how understaffed we are....

Basically I live on $300 a week inc rent. So over the entire year my average weekly income would average around that I suppose. But I have to spend it just to live here so I can't really save at the moment.

 

[...]

i basically work twice a wk

each time around 4-5 hrs

sop around 50-60bucks pay a night

 

[jay2000]

I survive on youth allowance
but i work full time 3 months a year when i go back to HK
so thats ok
but i'll probably have to start working part time here too..damn uni so expensive

 

[jayz]

ok, nice disscussion we have here, firstly i have to say, any money u might receive from the government is good money even if u r ripping the gov off, coz it's most lykly we the future/current tax payers will b the ones who r going 2 b ripped off by the gov.

anyhow, apart from that, assuming everyone spends 80% of the earnings on diffferent forms of expenses, where do u fink the other 20% should go to?

some suggestions,
save it to pay back HECS or other liabilities,
spend it on buying assets (things that will appreciate in value),
give it to the bank/investment institutions (i.e. INGdirect, etc)

what would u do if u had the extra 20% cash per wk, afta deducting the expense u had to pay

 

[braindrainedAsh]

If I had money to save I would use it to pay HECS or to finance some overseas travelling.... I'm not worried about saving while I am at uni though.

 

[jay2000]

i think you should put the 20% to good use and invest it..putting it in the bank is not much use..i get something lke 4.9% which amounts to like $50 interest a yr for $2000(there's a minimum you gotta have at my bank to receive 4.9% interest, which is $2000..you get like almost nothing below that)...currency/share trading online is very easy if you know what you're doing..i've made quite alot of money recently doing that..relatively risk free as well

 

[redruM]

spend it on alcohol
or just put it in your piggy bank and let it accumulate.

 

[MouNtY]

...i don't work but my parents give me about $80 a week, it's not much but i'm not really a big spender, i'll normally just buy something really shit, like goin out or sumthin'....but i'm fully having a heart attack over that HECS rise thing though.....but i got told that given the rise, it's probably better to now pay upfront......

 

[Benovista]

I get around $126 aweek but thats for 3 shifts, sometimes I only get 1 or 2 shifts at work.

 

[iambored]

Originally posted by DooNy_TeChY
.....but i got told that given the rise, it's probably better to now pay upfront......

i think it's better to pay upfront rise or no rise. if you can, then do it. you get a massive 25% discount, that's like $1000 a year

 

[jayz]

Originally posted by jay2000
currency/share trading online is very easy if you know what you're doing..i've made quite alot of money recently doing that..relatively risk free as well

one question on currency trading, does your broker charge u any fees? at wat rate? and u generally wouldn't go into currency trading unless u hav large amount of funds, i.e. excess of 10000, tat's to my belief, correct me if i am wrong

the only saving/investment program i can come up wif for ppl who can afford a new car is saving wif ING direct, they've got this new 5.8% 90day term deposit thing, not sure if it's good. heard from fwends, citibank is offering a even higher rate, but the application process is harder to process than getn ur driver's license, anyone wif citibank?

 

[toisthbe]

around 300 a week, working 3 days, saturdays is bonus days, thus if i make 3 sales (which i do minimum each day anyway), i get an extra 10 bucks each sale. average each sale is $25 each, therefore 105, on saturdays minimum.

plus if i meet the leaders target of 5 sales per day for the week, this means I get another 10bucks extra on each sale automatically, in other words, for my 3 days, if i get 15 sales, i will get an extra $150, just for gettin 15 sales

 

[Generator]

Ah, why would you even bother with paying HECS upfront if it was an issue of one or the other? Just remember that the threshold has been raised to around $37k...

 

[iambored]

Originally posted by Generator
Ah, why would you even bother with paying HECS upfront if it was an issue of one or the other? Just remember that the threshold has been raised to around $37k...

did you mean the other way around? if it were one way or another, if you had a choice, why would you bother with deferring? if you have a choice you should pay upfront for the discount