23YR old current financial status help

[Romer02]

I have recently just graduated college and I've been struggling to find a job. On the bright side, I do get some side money from doing deliveries on uber eats or door dash but for now, the goal in my mind is to leave the nest per se.  I also took a seminar in how to invest with options in the stock market and that has also been going well but not enough yet to get me out of my parent's house. I have seen my money go up methodically since I did have no way to get money just about 5 months ago but of course the goal is to leave my parents. I'm just struggling to find a job as an economics major for now. 

[7thLetter]

Sounds like a very similar situation that a friend of mine is in. He's 21, doing deliveries with Skip The Dishes for side money, graduated recently, studied economics, lives with roommates, and studying Forex trading with me. My situation I'm 24, trying to move out parent's place as well, collecting money from the government, got money saved up and studying trading as much as I can. I'm doing my best to teach my friend everything I know about Forex because I've been in it for a while and he's new to it.

My advice would be to maybe do the same, earn your side money, then do your best to put your free time into practicing and learning options trading. Trading is a long-term game, those who stick to it and put in the time will be rewarded. As for funding a trading account, I'm not sure about options but try to find a company that funds experienced traders. In Forex they have prop firms that funds traders internationally with $10K-$300K accounts for a $500-$1500 fee.

I honestly want to move out of my parents place as fast as I can but it might be a good idea not to rush it. Even though I'm not too happy here, its important to have your finances figured out first before moving out. Personally I pay $320 a month to live with my family which is really cheap, location is great. Moving out would be double or triple that, and I would have to worry about living with random people. Not sure what its like in your country/city, but finding a 1 bedroom suite/apt to live on your own costs over $1k/month, that's a little too much.

If you get a full-time job just so you can move out and live on your own without figuring out your finances or achieving financial independence (assuming one of your goals is financial independence), then you're kind of getting yourself stuck in a trap of worrying about and paying rent. And you'll barely have the time to study options or whatever else it is you wanna do. There's a lot of money traps out there that people fall into so its pretty important to be aware of that. Getting married, having kids, having pets, debt, etc. etc. Leo's video on Money Psychology is a good one.

Not much I can say about finding a job, that's dependent on what skills you have or what you're naturally good at. I'm sure there's a lot of jobs that don't require experience. For example, kitchen jobs pay pretty well to those without experience.

Hope this helped at least a little bit.

 

[Romer02]

@datamonster Hey thanks for the reply I appreciate your wise words. 

20 hours ago, datamonster said:

Data Analyst like business performance analytics, forecasting, dynamic pricing algorithms, A/B testing features, determining price elasticity, root cause analyses

I went to college and I vaguely remember much of these concepts but they do ring some bells. Since I'm fresh out of college I'm not even sure where to work for the time being. For now, I'm improving my resume so I could try finding a job somewhere. It also sounds very interesting to me to become a data analyst what do you think employers are looking for so they could approve my resume and I could hopefully get an interview. 

 

On another note, I am also very curious about doing what Leo does but with my own platforms on social media. I'm not sure if this a genuine interest of mine but I do weightlifting and many of the teachings of Leo have helped me in the sport such as looking for a high yielding technique. I'm also interested in many other of his talks on spirituality and metaphysics. I've not even skimmed the surface or penetrated deep into amazing insight but it has already been an amazing journey for just 1 year.  

[UDT]

@Romer02  Sounds like you dont need a job, you need to start taking the heroes journey serious

[Romer02]

@UDT I definitely want to work on that but damn I really want to move out of the crib. To become financially independent and not a wage slave. 

[7thLetter]

@Romer02 Any comment on my advice? I understand you want to move out but maybe that desire to move out could serve as motivation to work on your financial independence first. Potentially work to create some sort of income at your parents place first, then look to move out second. If you only move out without creating that source of income first, then you may not have that motivation anymore to create it. The job might get too comfortable for you then you might end up in a situation of staying at that job, or job to job in order to support your lifestyle.

I don't know what your situation at home is like to make you feel the need to move out, but I can assure you my situation at home might be similar or even worse. Won't say too much about it but luckily its not an abusive household, but I live in low-income housing with my parents and siblings. This just gives me such a strong desire to move out, I want to be on my own. So I can understand where you're coming from. I actually wanted to move out at 19 years old but that was an ego thing, I'm 24 now and I still live here, 25 in two months. But I realized that I need to be more realistic, and understand that I need to create a reliable source of income first so that I could move out without any worries. So now I focus more on understanding money psychology. How money works, how to manage it, how to invest it, building good money habits basically. Moving out for $1K+/month just doesn't make any sense when you could use that money to create more money, which is more important than your desire to move out.

In my opinion there's no good reason to move out in our situations other than if family/parents are toxic or abusive. That's the only reason I would say is a good idea to try to move out. But if you live rent free at home with parents, perfect. That gives you an opportunity to save some money up.

[Michal__]

If you are decent-ish at communication the learn wordpress (you can do it in a week, lol) and find people who need a website. (Whether in real life or online)

As long as you can find clients it is relatively easy to make money.

Also, idk if you have experience (or even realized it exists) but there are spiritual ways to draw more clients in/make more money.

The only catch is you have to correctly differentiate between complex websites and simple websites, so you don't accidentally begin working on something too hard to handle.

Edited October 17, 2020 by Michal__

[FrankMcGuire]

@Romer02 So do it  Stupid advice but it works. About 10 years ago Dad kicked me out of the house. So don’t drag it out

[Hello from Russia]

Dude, get serious and learn some real skill which you call sell to other people and build business around, don't go for that trading BS. What you need is to learn how to provide value to other people so that they can give you money in return. Flipping stocks doesn't provide value to anybody and, really, a very lame lazy way to go about things which will backfire on you later for sure

Edited October 20, 2020 by Hello from Russia

[Michal__]

3 minutes ago, Hello from Russia said:

Dude, get serious and learn some real skill which you call sell to other people and build business around, don't go for that trading BS. What you need is to learn how to provide value to other people so that they can give you money in return, flipping stocks doesn't provide value to anybody and, really, a very lame lazy way to go about things which will backfire on you later

Well, stocks provide value to companies. 

Otherwise, good point.