So let's assume that there was an easy way to make a sustainable investment by investing into a great fond. So in this hypothetical fond only shares from truly great companies exist. Why should this make sense from a sustainability perspective? Unless the companies in that fond are selling their shares for the first time, the company won't ever see any benefit from me investing, will it? The invested money only gets passed to the person who held the shares before me. So I really don't understand why all the resources I could find stressed how great it is to invest sustainable and what a good impact one has. Am I missing something here? And, a bit offtopic, do you have an idea how to use the money so that it actually does some good?

!personalfinance@lemmy.ml

Hello everyone,

I am trying to revive the personal finance community, and we have more content and traction on !personalfinance@lemmy.ml . Feel free to join us there!

I am reaching a harsh slump in the job search. And am reaching quite a high ceiling of debt that I need to find a way to mitigate for the interim, while maintaining a healthy credit score.

Could someone guide me on some resources or provide some advice on loans that could possibly be taken out to provide a sort of padding? I am completely new to this sort of environment and have not been trained as well as I should have been for this career climate.

Edit: I should also say, my only monthly payments are rent/credit interests/some small servers I host(but their costs are no more than $20/mo)/necessities(food, etc). Anything extra has been stripped from my burn, no insurance payments, no car, etc. School loans will resume soon though, so that will add another variable

Edit2: Is it advisable to take out my 401k?

So I kind of messed up I had a good Vanguard 401K at my previous employer and started a new job with better pay but horrible 401K options. I didn’t think and rolled over the Vanguard 401K to Fidelity where I keep my Roth IRA. Problem is I’m over the income limit and need to do a backdoor conversion. It seems the only way to fix this is to create a solo 401K what will I need to do to get this opened and not be flagged for fraud etc. I’d be happy to doordash, Uber ETC to show some income to get it going on the side.

I’m going to be starting my first semester in a graduate program that will take me three years to complete.

After applying my scholarship funds for this semester, my remaining tuition will be $12k per semester. Student Loans are around 6%, with interest accruing immediately.

I have currently have a 401K with around $14k saved. I am in my mid 20s and will hopefully be back to work after this program.

1. Is it possible to roll this over to an IRA and take a withdrawal from the IRA to pay my first semesters tuition, all while avoiding any penalties for early withdrawal?
2. Is this the best way to do this?
3. Is it even a good idea to touch this money?

It’s 1 semester out of 6 total, but that would be $12k less I’d have to pay to borrow.

Thanks.

If we’re starting over here is there any changes you’d make to that flowchart? It’s pretty perfect but just checking if there are any thoughts.

The one year reprieve period will still allow interest to accrue on your loans. As a form of protest and in the hopes something might get worked out, I am considering not resuming payments until they affect my credit score in 2024.

I was doing some thinking and my loans are only at 3.4% interest, so with inflation being higher than that lately, I think I would actually be saving money by not paying. What is everyone else's plan?

Noticed there were no posts so figured I'd try to kick things off.

I used a simple app called NeoBudget for years but importing transactions was a pain. Now I've used https://qubemoney.com/ for a number of years and I love how there's no need to import transactions - it is a Debit card controlled by an App. I don't recommend making it your primary bank but I just transfer money there twice a week and it really helps me reduce overspending.