berryjamIs it worth investing if I can only contribute $50 a month?
Yes, in 35 years with compound interest that would end up between 35-85k ;) sounds great to me
$50 per month for thirty five years saved with no interest at all is $21k, so I can absolutely understand the point of view that it’s not worth it if you’re currently struggling to scrape by to wait 35 years for what might be just an extra $14k
If that $50 has literally no other use to you, then great, if that $50 can provide fair value for you now, it’s a tougher decision.
I blew a lot of my money when i was younger, something I don’t regret spending lots of money on is decent tools, they can last a lifetime if taken care of and can save you money in the long run if you learn to do your own work. Sometimes stuff now is a better investment but it can be super specific depending on your situation.
I absolutely agree. I used to have no choice but to buy budget and have to deal with it when stuff inevitably failed and broke. But now I’m much more financially stable, I made a commitment to buy quality when I can.
With clothes I’m in the best of both worlds, I’m a proper hawk for charity shops and if you’re patient you can get both budget and quality. I bought a £100 shirt for £3 the other day and it looked like it had never even been worn and there’s no reason it won’t last me decades if I look after it. Good riddance to TK MAXX and fast fashion.