Now that I’ve graduated & have more time to meet some old friends. I’m truly astonished by some stories I have heard and also a few first hand experience I had.
There are soooo many young individuals living on borrowed money. Literally. Just slogging their asses off to pay off the interest. Whatever way you look at it, really isn’t wise. FYI some of these people have a background in finance or are bankers themselves.
Know of a few that gambled and lost 6 figures in one night. Unfortunately, turns out to be their parents life-long savings. Even know of one that attempted to persuade many individuals to borrow from their friends in order to secure liquidity for their own good. Selfish really.
When transitioning into having “adult” money. It really pays to be prudent and careful with your spending and save religiously. Additionally, it really is important to be EXTREMELY selective with who you are lending to, because it’s quite probable that you’re not getting it back. So if I’m taking on such a “risk” , I’m only doing it for my family members and a few selected close friends. No one else.
All these are just my raw thoughts, no filter. Protect yourself people. Don’t gamble or destroy your relationship for money. It’s not worth it.
Even Crypto or stocks is gambling imo. Call it what you want. But investing really is just a fancy name for gambling wisely. Everytime you dip your toes into something, you’re gambling on the fact that you believe this will be valued much higher in the future. It is still important to set aside savings out of your investment PF for rainy weathers.
Thanks for sticking to the end. Atb anons.
PhysioKid 