Howdy! After the success of last week’s discussion thread, I figured we should keep going. Feel free to comment below with anything and everything money related that is better suited to a conversation or a quick question and answer than a full post. Some ideas include:
- Journaling about an ongoing job search
- Asking for ideas about how to manage an emergency fund
- Logging recent stock trades
- Talking about the impact of inflation on your budget
- Your plans for maximizing the rewards on a credit card
Again, those are just suggestions, if there’s really anything you’d like to talk about related to finance in your life, feel free to put it here.
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Not too much going on for me real life money wise, which is how I like it, although I forgot to mention an account in my last post. I have a cash management account that holds what I hope to one day be enough money for the down payment on a house. Right now it is just set up with most of the balance to automatically roll into a short term brokered CD, and with some money set aside such that, given how banking has been lately, if my main bank had trouble right when all my bills came due I wouldn’t be completely screwed.
For my little real money fun investing account, the only notable development is that MHO is getting pretty close to reaching 100% gain. If it does, I intend to sell half the position to get out what I put in, reallocate that, and let the remainder ride to see what happens.
For my paper trading account, I took some of my own advice from last week and closed the position I had on F. I have also changed my approach to the volatility trades that I had been doing with the SPX iron condors. Volatility is low right now, so long term I would expect there to be more volatility at some point in the future. With that in mind, I decided to try a strangle strategy using LEAP options. This should minimize my exposure to theta while allowing me to profit whether the future volatility is upwards or downwards. For position sizing reasons, this is no longer held on SPX, but instead SPY.
To maximize the reward from my credit card i dont have a credit card. Best solution. I am rewarded constantly by seeing others pay 20+% while i dont do that.
What 20% do you mean? The interest rate?
If you treat a credit card like a charge card and pay it in full every month there’s zero cost to you. You don’t even pay interest on the time between the purchase and the payment as long as you pay everything off on the first statement it appears.
Having a credit card is good for your credit and can save you money in the form of cash back. As long as you can keep disciplined about only spending money you already have and paying in full every statement, it’s all upside.
Eh, just pay the full balance every cycle. You’re paying the hidden 3% transaction costs even if you don’t use credit card on pretty much all transactions you make, so might as well get some rewards and sigh up bonus from it.
Curious if we have a large enough churning community here to create our own community.
It’s a pretty decent personal hobby of mine, usually on the order of 5-10k/yr worth of SUB/MS and banking rewards a year.
Happy to share some knowledge here as well if others are interested.
I’m not sure how much churning we have representation for, given c/Finance is already on the smaller end, but could definitely be a good one to split out as activity increases!
I would be interested in you sharing some knowledge. I have been working on assembling the Chase Trifecta for maximizing my day to day spending into rewards points, but I haven’t seen any offers that look good enough for a true churn to get and cancel or forget about the card after. I’m familiar with MS as manufactured spend in churning lingo, but what is SUB?
On the same topic, I get a decent amount of information on new account bonuses and offers but don’t know if this community would be the right place to post them. It seems a bit out of the pattern since most of the posts are financial news related rather than personal finance or those types of topics.
Is crypto talk allowed? I hold 2 litecoin and the price is going up right now due to the halving, rewards for mining is going from 12 to 6.
Also rebalanced my 401k a bit.
Thinking of signing my mom and I up for a free debt counseling program and trying to reduce the amount we pay each much. I’m not sure how much it’ll help, but I figure if I get this done out of the way quickly, any damage to our credit might be recovered by the time we have to move.
Job searching still hasn’t been going well. My first ever job interview got rescheduled for Thursday and I feel like I might be getting too burnt out to do it. It was like all my energy was placed into getting ready for it, and now I’m just tired.
On the bright side, I’m getting a not-zero sum of money in the form of government refunds. Might be able to get some glasses and get a week of something like Meals on Wheels so that we can relax for the first time in months, and still have enough to start up a savings fund.
