|
tuyop posted:As an investment tool how does the TFSA work? The guy at the bank made it sound like if I take, say, 1000 from my chequing and put it in a mutual fund, the returns from the mutual fund are taxed, but if that 1000 is taken from a TFSA, then the returns on the mutual fund are not taxed? That made absolutely no sense to me, is that how it works?
|
#
?
Oct 15, 2011 03:43
|
|
|
|
| # ? Jun 3, 2024 12:15 |
|
|
bombhand posted:I don't have a head for finances, so I had to ask my bank lady to explain it to me. This may or may not be completely accurate, but the way she put it is that TFSA is basically an umbrella. You can have a variety of different savings tools under the TFSA umbrella, including mutual funds or GIC's or a regular savings account. You don't have to take your funds out of your TFSA to move them from a savings account into mutual funds under the same umbrella. This is all true. You can invest in basically anything within a TFSA, and you won't pay tax on dividends, interest, capital gains, or whatever else. It also doesn't count as a TFSA withdrawal until you receive the money personally, so you can also do active trading, if you so desired.
|
|
#
?
Oct 15, 2011 07:48
|
|
|
A couple questions/comments: I'm assuming the money you're putting towards debt reduction is counted as spending in your first graph? I just want to make sure I'm reading it correctly. What's great to see is that, given this is (almost) the three month mark, the last three bullet points have shown a steady decrease in both spending and balances on your various debts - good work! It's also nice seeing that you've charted out when you expect to have each balance paid off - having those goals is important. As a personal anecdote, I've been really bad about spending this year because I haven't set any financial goals. Seeing your current progress and your projected payment schedule, you've reminded me of the work I need to do between now and January to get my own finances back on track. So, thank you! Lastly, it's great that you recognize your own struggle, not just with how it's affected your lifestyle, but whether or not you'd repeat your mistake. As time goes on and as this gets paid down, I think (and hope) that you'll find that in the long run, you can sustain an enjoyable lifestyle, including impulse purchases and trips, as long as you maintain your finances responsibly. Once it's all paid off and you've built up savings, there really isn't anything to prevent you from taking a week off to go to Italy - if you can pay for it in cash, without jeopardizing your job. Recognizing that is the hard part, and you're already working on it. All in all, good job! And for the record, I do wipe my rear end.
|
|
#
?
Oct 15, 2011 08:41
|
|
|
bombhand posted:I don't have a head for finances, so I had to ask my bank lady to explain it to me. This may or may not be completely accurate, but the way she put it is that TFSA is basically an umbrella. You can have a variety of different savings tools under the TFSA umbrella, including mutual funds or GIC's or a regular savings account. You don't have to take your funds out of your TFSA to move them from a savings account into mutual funds under the same umbrella. Yeah that's what the guy at the bank told me too. I just can't comprehend how it works on their end and don't really trust it.  Shooting Blanks posted:A couple questions/comments: That's a good question, I'm not sure how mint includes credit card payment categories in its graph system. It really doesn't make any sense that my income should be like 1200 over when I put almost 1400 on debt. I'm going to say that no, it's not counted as spending. Especially because in mint every credit card payment is essentially a 0. It's -x from chequing for the credit card and then +x on the credit card itself as a payment. Edit: Guys, I really want a new iphone. My 3GS is now two generations behind. Two! Things are going to stop being supported for it soon! What do I do? tuyop fucked around with this message at 16:41 on Oct 15, 2011 |
|
#
?
Oct 15, 2011 15:14
|
|
|
tuyop posted:Guys, I really want a new iphone. My 3GS is now two generations behind. Two! Things are going to stop being supported for it soon! What do I do? Budget for it and get a new one when you've saved up enough. It's not like they melt down after they're not supported anymore. We have 3G phones that we are just now going to replace. Not a big deal.
|
|
#
?
Oct 15, 2011 17:58
|
|
|
tuyop posted:I feel much, much more boring. I'm happy for you that you realized 'how interesting you were' was directly tied to 'how many international vacations / fancy tech products' you could buy. This means you can use this newly found austerity to grow as an actual person. edit: why get a new iphone when you can stay with your carrier and get a new phone for $25 that can make calls / send texts? Iphones, aside from the higher initial cost, also have a higher recurring cost than a basic phone. You're on the bad side of 5 figures of debt and you want people to tell you its okay to get a fancy new toy. I'm telling you it isn't, and you're just addicted to a life of luxury where you confuse "need" with "want." If the only change in your attitude is "won't stay at condo in Italy with no regard to finances," you got a long drat way to go. Old Man Fancington fucked around with this message at 19:56 on Oct 15, 2011 |
|
#
?
Oct 15, 2011 19:50
|
|
|
tuyop posted:Guys, I really want a new iphone. My 3GS is now two generations behind. Two! Things are going to stop being supported for it soon! What do I do? I hope this is a joke, dude. You have a phone that works properly and is up to date, technology wise. You don't even need an iPhone.
|
|
#
?
Oct 15, 2011 22:14
|
|
|
tuyop posted:Guys, I really want a new iphone. My 3GS is now two generations behind. Two! Things are going to stop being supported for it soon! What do I do? Tuyop, I'm in a far better financial situation than you are. I've got functionally zero debt, a job that pays above the median wage, a budget that more than balances, and a savings account for a mortgage deposit that just hit six figures. I also own a 2007-model Nokia 1650 because a smartphone is just an additional expense (both ongoing and one-off) that would do nothing but cut into the amount I can put into savings while being a shiny toy. What you're essentially saying is that although you're in debt, you'd love to spend money replacing a perfectly functioning consumer product that costs far more than its alternatives with an updated model, because... why exactly? Because the latest version of your $$$underpantsfinder$$$ app doesn't work with it? You are far enough in the hole that a hiccup in your pay had you in a complete loving lather less than a week ago, and now you're talking iphone? Suck it loving up, Tuyop. You're beginning to act like a petulant child again, saying 'I wanna' when sorry; you can't. You got yourself into this debt, and if you think you can get out of it without some measure of self loving sacrifice, then the rest of this thread will be immeasurably entertaining for the rest of us.
|
|
#
?
Oct 15, 2011 23:47
|
|
|
Don't you guys ever want something and then not buy it? That's me and this new iPhone. I was totally joking about actually buying it.
|
|
#
?
Oct 16, 2011 01:07
|
|
|
Breetai posted:because... why exactly? Because the latest version of your $$$underpantsfinder$$$ app doesn't work with it? More like $$$hatfinder$$$
|
|
#
?
Oct 16, 2011 02:16
|
|
|
tuyop posted:Don't you guys ever want something and then not buy it? That's me and this new iPhone. I was totally joking about actually buying it. FYI, the reason why everyone takes you seriously when you are joking in this thread is because you have a history of saying poo poo that, rightfully, should have been a joke. But no, you were serious.
|
|
#
?
Oct 16, 2011 05:04
|
|
|
Of course he was joking, you guys are dumb.
|
|
#
?
Oct 17, 2011 08:31
|
|
|
Given time, you will find it dumb not to believe. Through the looking glass, etc. I guess it sets you up for elaborate trolls along the lines of "I actually didn't screw up this time, gotcha" but even that is potentially just backpedaling.
|
|
#
?
Oct 17, 2011 09:33
|
|
|
tuyop posted:Don't you guys ever want something and then not buy it? That's me and this new iPhone. I was totally joking about actually buying it. Yeh man, I totally understand the whole financial self control thing about wanting something then not buying it. Kinda like you and those holida... oh.
|
|
#
?
Oct 19, 2011 12:09
|
|
|
Alright, I'm not going to be able to keep up this thread this month. I'm in the field for the next 26 days, with a weekend every couple of weeks or so. I have no idea what happened financially for the past two weeks. My pay is still hosed, I saved for Montreal so I'm still going, and everything has been staying in the positive. Only made minimums on my cards last month and I think I spent a little bit more than I budgeted for, mostly cigarettes and a couple of small pieces of outerwear that I destroyed. I'll get things sorted out when I have the time.
|
|
#
?
Oct 30, 2011 20:21
|
|
|
tuyop posted:Alright, I'm not going to be able to keep up this thread this month. I'm in the field for the next 26 days, with a weekend every couple of weeks or so. I have no idea what happened financially for the past two weeks. My pay is still hosed, I saved for Montreal so I'm still going, and everything has been staying in the positive. Only made minimums on my cards last month and I think I spent a little bit more than I budgeted for, mostly cigarettes and a couple of small pieces of outerwear that I destroyed. I'll get things sorted out when I have the time. We know you are busy. Thanks for the update; we won't expect a lot of detail. Are you current on everything? I know you think you are. Just check again. Its times like this that you should mentally stop for 15 minutes and verify since it is so easy for something to slide.
|
|
#
?
Oct 30, 2011 21:33
|
|
|
Well nevermind. I fell down with a radio and machine gun and tore the connective tissue between my spine and ribs. Now I'm off course and out of the infantry. I'll post an update for October in the next few days. This means a big career change for me and definite salary consequences in the future. gently caress my life.
|
|
#
?
Nov 1, 2011 16:52
|
|
|
tuyop posted:Well nevermind. I fell down with a radio and machine gun and tore the connective tissue between my spine and ribs. Now I'm off course and out of the infantry. I'll post an update for October in the next few days. Holy poo poo, are you okay?
|
|
#
?
Nov 1, 2011 17:44
|
|
|
drat dude =/
|
|
#
?
Nov 1, 2011 17:51
|
|
|
Ouch  That sounds incredibly painful.
|
|
#
?
Nov 1, 2011 18:00
|
|
|
Holy poo poo, I can't begin to guess the recovery time for that; have the docs given you any detailed info here?
|
|
#
?
Nov 1, 2011 18:29
|
|
|
Wasn't there a discussion earlier about something like this happening? Get well soon.
|
|
#
?
Nov 1, 2011 18:33
|
|
|
I guess the good news is that you are in Canada so at least you don’t have to worry about an avalanche of medical bills. But please take care of yourself and your health is the most important thing here. I don’t care if you fall behind on everything, you lose your car. In the end, none of that matters. Money is replaceable and you will fix whatever you need when you get better. So get better.
|
|
#
?
Nov 1, 2011 18:35
|
|
|
Hope you have a speedy recovery. What did you mean a career change? Does this mean you are no longer allowed in the CF as a result of your injury?
|
|
#
?
Nov 1, 2011 18:46
|
|
|
tuyop posted:Well nevermind. I fell down with a radio and machine gun and tore the connective tissue between my spine and ribs. Now I'm off course and out of the infantry. I'll post an update for October in the next few days. What exactly happened? Were you put at unnecessary risk? I’m not saying you sue them for bazillions of dollars, but there is a difference between that and finding out if you are entitled to a legitimate settlement for pain/suffering, especially if this proves to be a long term thing that affects your long term career path.
|
|
#
?
Nov 1, 2011 20:31
|
|
|
On the plus side, did you say this gets you out of infantry? That's a plus, right?
|
|
#
?
Nov 1, 2011 20:57
|
|
|
Bad fortune comes to everyone at times, though some certainly more than others, but all you can do is prepare and try to make the best of it when it comes. If there's anything we can help you with or advise on just let us know. Where are you right now?
|
|
#
?
Nov 1, 2011 21:05
|
|
|
Ouch, that ain't good, sorry man I presume this is all taken care of with worker's comp or some sort of Canadian equivalent, right?
|
|
#
?
Nov 2, 2011 01:25
|
|
|
CornHolio posted:On the plus side, did you say this gets you out of infantry? That's a plus, right? If he's out of infantry, it also presumably means it's going to screw with his income - so not necessarily. Get well soon, dude, I can't even imagine how much that must hurt.
|
|
#
?
Nov 2, 2011 02:41
|
|
|
Here's what happened if anyone cares, I was the machine gun ammo guy for a patrol last week, that's about 100 pounds of kit including all your personal stuff. The machine gunner was a bit of a retard and kept wandering off in random directions and getting the gun stuck on trees and poo poo because his night vision wasn't working, so I gave him my rifle, took the gun, and had him grab into my bag and just dragged him through the swamp. Then I fell down at some point about an hour later and couldn't get up. Lots of back pain and I couldn't breathe. They evacuated me from the patrol and I went to the hospital. I told them not to keep me from going back on course and I would hopefully heal over the weekend. I didn't really and I was carrying a radio for an attack, fell four feet into a ditch onto my back and really hosed it up. They wanted me to keep going with just a rifle but I refused, because I can barely walk and if I'm going to do this course I'm not going to do it with a big handicap helping me out. Career wise: this means that any promotions or raises have been postponed at least until I'm better, probably six months, and I have to switch trades. I dont know anything about the promotion rates in other trades but the infantry is one of the fastest so I have no idea now. Ive had a claim into veterans affairs for my last injury for 9 months or so now, but those take a long time to settle so I have no idea when or if I'll see any money from this injury. I'm not going to be kicked out of the military and I won't take a salary hit for any reason other than voluntarily decommissioning.
|
|
#
?
Nov 2, 2011 12:02
|
|
|
tuyop posted:Career wise: this means that any promotions or raises have been postponed at least until I'm better, probably six months, and I have to switch trades. I dont know anything about the promotion rates in other trades but the infantry is one of the fastest so I have no idea now. Ive had a claim into veterans affairs for my last injury for 9 months or so now, but those take a long time to settle so I have no idea when or if I'll see any money from this injury. I'm not going to be kicked out of the military and I won't take a salary hit for any reason other than voluntarily decommissioning. What does this mean, if anything, for your bottom line right now? I understand that your expected promotion track is in jeopardy (another friendly reminder to stop counting your chickens before they hatch), but what does your week-to-week look like now that field pay is seemingly out of the equation?
|
|
#
?
Nov 2, 2011 14:15
|
|
|
Shooting Blanks posted:If he's out of infantry, it also presumably means it's going to screw with his income - so not necessarily. I know I don't speak for everybody but I'd rather be poor than full of bullet holes.
|
|
#
?
Nov 2, 2011 16:14
|
|
|
bam thwok posted:What does this mean, if anything, for your bottom line right now? I understand that your expected promotion track is in jeopardy (another friendly reminder to stop counting your chickens before they hatch), but what does your week-to-week look like now that field pay is seemingly out of the equation? Well, in the next couple of pays I'll see my incidentals and field pay that I've already collected. Should be about 700 if my rough estimation is anywhere close. Then my pay will go back to normal and I'll keep getting 2900 a month. Nothing financial has really changed for the present. I won't be paying for any medicine, diagnostic imaging or Physio, I just have to change trades and may have to decommission which will cost me probably 300 a month if anything.
|
|
#
?
Nov 2, 2011 17:54
|
|
|
CornHolio posted:I know I don't speak for everybody but I'd rather be poor than full of bullet holes. Yeah, but this is the Canadian infantry.
|
|
#
?
Nov 2, 2011 19:09
|
|
|
Grumpwagon posted:Yeah, but this is the Canadian infantry. Serious post: Yeah I had the same thought, but in Afghanistan they have served with distinction and with heavy causalities. Most of the countries in the coalition are there for window dressing, but the Canadians have been sent to the most dangerous areas, took the worst assignments, and in true Canadian fashion, they went there politely and without complaining. 
|
|
#
?
Nov 2, 2011 19:35
|
|
|
Yeah, we held Kandahar province with moderate success with a battlegroup (500 combat troops) and we're being relieved by, as far as I know, an American brigade (1500-2000 combat troops). I joined to go, but over the past four and a half years of injuries and administrative bullshit, I missed my chance completely. I'm very upset about this.
|
|
#
?
Nov 2, 2011 20:14
|
|
|
Tuyop if it makes you feel any better, I promise you this won't be the last war that the western world is involved in.
|
|
#
?
Nov 2, 2011 20:35
|
|
|
Zeta Taskforce posted:Serious post: Yeah I had the same thought, but in Afghanistan they have served with distinction and with heavy causalities. Most of the countries in the coalition are there for window dressing, but the Canadians have been sent to the most dangerous areas, took the worst assignments, and in true Canadian fashion, they went there politely and without complaining. I actually knew most of this and chose to post anyway.. because it's Canada.
|
|
#
?
Nov 3, 2011 01:47
|
|
|
Old Man Fancington posted:Tuyop if it makes you feel any better, I promise you this won't be the last war that the western world is involved in. It would make me feel better, except that I'm never going to fight in any war, ever, regardless. That's kind of a good thing really, but I didnt plan on collecting army welfare and wasting four years of my life for nothing. vOv
|
|
#
?
Nov 3, 2011 01:50
|
|
|
|
| # ? Jun 3, 2024 12:15 |
|
|
Don't knock it until you tried it, Tuyop. Disability pay covers my coffee expenses each month, which is nice. And you get it for life!
|
|
#
?
Nov 3, 2011 02:08
|
|