|
Infinotize posted:I am pretty set on bumming though, I have been at the same place for 5.5 years and am ready for a break. I have enough cash liquid to last 3 years on my current expenses and that is including IRA contribution. It may not be the best financial decision but I'm fine with that and I have enough buffer. You sound like me 6 months ago - had been in my job (straight out of college) for 5.5 years, had about $60K in savings, was tired of the job and tired of the city I lived in, super stressed out and getting sick all of the time, just wanted to get out and not work for awhile. Work part-time at McDonald's or something easier to keep myself afloat and live on in a cheaper place. But, I promised myself I'd look around for a job in the area I wanted to move to until my drop-dead quit date at the end of March. I was fully convinced I'd never find one, and secretly didn't really want to, but lo and behold I found basically the perfect job, with the perfect hours, for more pay, exactly where I wanted to live. I gave them a late enough start date that I ended up taking 2 months off in between jobs to bum around, sleep in, do all of that stuff, and by the time I went back I was really refreshed. It turned out I didn't really want to bum around for a year - I just needed to recharge my batteries. Now I am really happy and still have a ton of savings. I would think about it. However, if you really are set on getting out or can't find another job, I would keep your money in cash. If you were going to keep working, then you could probably invest about half of it in Vanguard mutuals (I had $35K in them) depending on your expenses, but now that money is your lifeline and risk is no good. You can't gently caress around with your only source of income for the forseeable future like that.
|
#
?
Jul 21, 2012 20:12
|
|
|
|
| # ? May 10, 2024 19:19 |
|
|
Infinotize posted:Been wondering about this for a while so might as well ask in the newbie thread. It sounds like you are going through a time of personal uncertainty and the fact that you have a decent sized pile of money is one way it is manifesting itself. Other people have answered the career and money aspects, but one question I have is in what ways have you either given back, or would like to give back and help others. You are obviously smart and hardworking and have skills, otherwise you wouldn't have a job that allowed you to put that much away and the discipline to save. If you took time off, would you have any interest in volunteering somewhere, either locally, or internationally? It wouldn't need to be on the scale of the Peace Corp (although if you were planning on going off the grid for a couple years, that would be an awesome way to to it) but there are other programs where you can see cool parts of the world and participate in environmental or social projects. Or way closer to home too. I'm sure there are tons of volunteer options. Same thing with the money. You deserve to enjoy some of it and if that means taking time off to bum around for a bit, that is cool. If you do start the business, and you are starting it because you are excited about what you will be doing and you want to monetize it, that is a great use for it. And you should be investing. And that might be investing in you if you need coursework to get into something that interests you. But I also think you should be giving some of it away. It doesn't need to be a school in Haiti (although it could), but a place that will use your money wisely and do things in the world you believe in. I strongly believe that those of us who live in rich countries and are not struggling benefit from thinking about those in other places.
|
|
#
?
Jul 22, 2012 04:17
|
|
|
lol
biceps crimes fucked around with this message at 04:10 on Jan 12, 2021 |
|
#
?
Jul 22, 2012 05:41
|
|
|
double post
|
|
#
?
Jul 22, 2012 05:42
|
|
|
Congratulations! This is the only way you get to keep your sanity and you will be fine. You are so thoughtful and deliberate about how you do things, and the alternative of this not working out and moving back with Mom is so dreadful that I know no matter what happens, you will figure out a way. Good luck.
|
|
#
?
Jul 22, 2012 14:31
|
|
|
I live with my parents and want to move out pretty badly. I have a lovely job and would like to move into a lovely apartment. What sort of % of my income would it be reasonable for my rent to encompass? I'm trying to figure out if there are any reasonable options for me at my income level(I fear that there aren't any). As far as bills I pay a shade over $400 a month to my separate student loans. I could go without cable and can downgrade my phone's plan to something cheaper. I can cook so I figure I could live fairly decently off of rice, beans, pasta, the occasional whole chicken, and some sort of multivitamin. I am also planning on going back to school in either January or next August, depending on how quickly I get some test results back which will be an additional expense that my parents aren't going to help me out on either way. I am kind of thinking you guys are going to crush my feeble dreams. If so, how can I plan to make this move going forward?
|
|
#
?
Jul 22, 2012 21:48
|
|
|
Where do you live and how much do you make?
|
|
#
?
Jul 22, 2012 23:18
|
|
|
Can somebody cash a bank draft (Canada) without the actual draft? I have both the actual draft and the carbon copy. A guy was going to sell me a car but he's turning out to be very shady and I want to cancel and refund this bank draft (bought earlier today) ASAP. He has not seen the physical draft. He knows: - Price on bank draft - My name and address - Name on "Pay order to" He does not know my bank. I'm on hold waiting for my bank and honestly looking for some internet reassurance. EDIT: The bank told me that no, people cannot cash a bank draft without the bank draft. I realize how obvious that sounds. reflex fucked around with this message at 02:26 on Jul 23, 2012 |
|
|
#
?
Jul 23, 2012 02:05
|
|
|
Edit: Hit reply instead of edit.
|
|
|
#
?
Jul 23, 2012 02:06
|
|
|
Fisticuffs posted:I live with my parents and want to move out pretty badly. I have a lovely job and would like to move into a lovely apartment. What sort of % of my income would it be reasonable for my rent to encompass? I'm trying to figure out if there are any reasonable options for me at my income level(I fear that there aren't any). Financial planners use two housing ratios to determine what is "affordable" housing. Housing Ratio 1 is the Pinciple/Interest/Taxes/Insurance or Rent/Insurance should be less than 28% of your gross income. 1/4 of your take home pay is a pretty good equivelent to it. Housing Ratio 2 is HR1+All other debt payments should be less than 34% of your gross income. In your case it would be the student loan payments + the rent and renter's insurance. If you can't get the expenses below that mark, you could look at a roomate to help lower the costs.
|
|
#
?
Jul 23, 2012 20:05
|
|
|
zharmad posted:Financial planners use two housing ratios to determine what is "affordable" housing. Housing Ratio 1 is the Pinciple/Interest/Taxes/Insurance or Rent/Insurance should be less than 28% of your gross income. 1/4 of your take home pay is a pretty good equivelent to it. In this guideline, is gross income pre-tax?
|
|
#
?
Jul 23, 2012 20:29
|
|
|
baquerd posted:In this guideline, is gross income pre-tax? Yes, gross is pre-tax and pre-any payroll retirement contributions.
|
|
#
?
Jul 23, 2012 20:32
|
|
|
Are medical bills considered the same as other debt on your credit report?
|
|
#
?
Jul 24, 2012 01:02
|
|
|
dalstrs posted:Are medical bills considered the same as other debt on your credit report? Bills that aren't a credit product have no history so they can only count as a derog.
|
|
#
?
Jul 24, 2012 03:24
|
|
|
LorneReams posted:Bills that aren't a credit product have no history so they can only count as a derog. So that means if this million dollar ICU bill that my insurance refuses to pay for is sent to collections it will basically gently caress me.
|
|
#
?
Jul 24, 2012 03:31
|
|
|
dalstrs posted:So that means if this million dollar ICU bill that my insurance refuses to pay for is sent to collections it will basically gently caress me. Depends. You might want to keep it from going on your report by poisoning the well by opening disputes with your insurance and the billing company...it comes close to a violation if they know about the dispute and still report it so most won't...
|
|
#
?
Jul 24, 2012 03:50
|
|
|
LorneReams posted:Depends. You might want to keep it from going on your report by poisoning the well by opening disputes with your insurance and the billing company...it comes close to a violation if they know about the dispute and still report it so most won't... I'm not quite sure what you mean. It hasn't been sent to a billing company yet as far as I know, I just got the bill from the hospital. The insurance has already had several appeals about this.
|
|
#
?
Jul 24, 2012 06:35
|
|
|
I've been thinking about making a purchase but I just want to check if it's the right decision. My wife and I make good money - nearly six figures combined. Currently we have about $14,000 in savings, no debt, not mortgage. Aged 25 and 28, no children. Save 30% of our paycheck every week. I've been thinking about buying a MacBook. The cheapest model, which is $1,100 in Australia. I've been saving up for it with the "allowance" my wife and I give ourselves every week. I do some freelancing work, (I'm a writer), and I'm expecting a payment of $750 in the first week of September. It's guaranteed pay - I've finished the story and know 100% it's coming. Tomorrow, a big department store is having a sale - 10% off all Mac computers. I was planning on taking some money out of my savings account, buying the laptop, and then replacing that money with the paycheck in early September. My justification is that it's a good discount, and I was going to buy one anyway. Is this a stupid decision? We live in Australia, so there are no major health scares coming that I'll have to pay for, my job is completely stable, (so is my wife's), and I think the fact we have good savings and no debt should help out. Is it worth it waiting another six weeks, and just pay the extra $110? Or is the discount an opportunity that should be taken? I'm leaning towards taking it but reading BFC for so long has made me scared about any large purchases 
|
|
#
?
Jul 24, 2012 12:22
|
|
|
You can afford to buy 10 Macbooks and play frisbee with them.
|
|
#
?
Jul 24, 2012 13:57
|
|
|
Make it rain Macbooks on your family/friends.
|
|
#
?
Jul 24, 2012 13:58
|
|
|
CelestialScribe posted:I've been thinking about making a purchase but I just want to check if it's the right decision. I think you're being incredibly overcautious for someone in your situation. Not going for this sale would be a prime example of penny wise and pound foolish, in my opinion. Just promise yourself that you'll pay it back when you get the money. e: beaten like so many red-headed stepchildren.
|
|
#
?
Jul 24, 2012 13:59
|
|
|
buy me a macbook. buy two macbooks and bury one as a spare. buy an extra and keep it outside playing a video of a mongoose to distract poisonous snakes. useful addition edit: does australia allow you to deduct work expenses? if you are a writer and work mostly from home, you might be allowed to deduct a percentage of the purchase price from your taxable income - but I don't know how aussie works.
|
|
#
?
Jul 24, 2012 19:20
|
|
|
CelestialScribe posted:Is it worth it waiting another six weeks, and just pay the extra $110? Or is the discount an opportunity that should be taken? I'm leaning towards taking it but reading BFC for so long has made me scared about any large purchases Don't be scared of large purchases. Be scared of purchasing something that will depreciate rapidly on credit. Paying cash to take advantage of the discount and paying yourself back in six weeks makes sense. The question you have to ask is if you could make 10% on that money in the six weeks it would take to pay yourself back. If you can, you can wait but it if you can't, than purchasing now makes more sense.
|
|
#
?
Jul 25, 2012 00:38
|
|
|
Cool! Thanks for the advice guys, I feel better about it now. kaishek posted:buy me a macbook. buy two macbooks and bury one as a spare. buy an extra and keep it outside playing a video of a mongoose to distract poisonous snakes. We can, but our financial year just ended and the laptop would be seen as a capital expense. As a result, I can deduct the depreciation but not write it off completely - but it won't happen until June next year. Poisonous snakes
|
|
#
?
Jul 25, 2012 02:48
|
|
|
CelestialScribe posted:Mac Chat Do it, and if if helps you can look at it as taking a loan from yourself. Instead of paying back the original amount of the laptop, maybe throw another $40 from your next paycheck into your savings account to pay 'interest' on your loan to yourself. I do this all the time and probably saved up an additional $500 over the past few years just from borrowing money from myself.
|
|
#
?
Jul 25, 2012 04:04
|
|
|
Ignore me.
Hughmoris fucked around with this message at 19:35 on Jul 25, 2012 |
|
#
?
Jul 25, 2012 19:30
|
|
|
Currently, I'm trying to find a job. This is my first legitimate job, however I've done a few jobs under the table. When a job asks for a cover letter and a resume, what do I submit at this point?
|
|
#
?
Jul 26, 2012 05:52
|
|
|
Factory posted:Currently, I'm trying to find a job. This is my first legitimate job, however I've done a few jobs under the table. When a job asks for a cover letter and a resume, what do I submit at this point? This thread might be helpful: http://forums.somethingawful.com/showthread.php?threadid=3444773 e: Actually here is a resume-oriented one too: http://forums.somethingawful.com/showthread.php?threadid=2000929
|
|
#
?
Jul 26, 2012 15:19
|
|
|
For gently caress's sake buy the Macbook
|
|
#
?
Jul 26, 2012 22:59
|
|
|
I don't know if this is the right place for this topic, but here it goes.. (background: I work in a family run restaurant in California) I've clocked in ~50hrs/week for the last 3 months, am I suppose to be getting overtime pay? and also my employer is taking out 20% from my credit card tips every night, is that a high amount? It just seems that I'm either whining about being overworked, or I'm really being taken advantage of. Thanks for the help!
|
|
#
?
Jul 27, 2012 21:35
|
|
|
So my wife asked me if we should get a puppy and the first words out of my mouth were something like, "I think it would be an excellent investment. A dog will last about 10+ years if we take care of it and I've read studies that families with pets are much happier than those without." Then after a moment I felt like complete poo poo. Thanks BFC.
|
|
#
?
Jul 27, 2012 23:19
|
|
|
Pretty sure I am screwed for life. 27 years old, Canada. I live with my partner. Gross income: 50-53K Net monthly income: 2800 ish Rent: $1095 Phone: $67 Gym: $22.50 discretionary: $250 I do not pay for food, utilities, or transportation. I currently have no debts and about $20000 in a savings account at 1.2% My company offers 1% RRSP matching (I qualify in September). I am also saving for a down payment on a house (budgeting about $90000 for a 20% down payment) so any extra money I have goes to my savings account. I'm unsure what I should do as far as saving for a downpayment vs. saving for retirement. Right now I'm not putting anything away for retirement, it's all going to the house. My plan is to start the RRSP matching once I qualify but put all the rest of the money towards my down payment fund, and then worry about retirement after I buy a house. Is that the right or wrong way to go about it? Will I be able to save enough money for my retirement? Is there something I'm missing? Also, where should I put my down payment fund? I'd like to buy before July 2016, so I don't want anything too risky.
|
|
#
?
Jul 28, 2012 10:58
|
|
|
pinkgingham_19 posted:Pretty sure I am screwed for life. For the downpayment, there isn't much you can do other than your savings account. Those of us in the states would love to get 1.2%. But if the house purchase is that far out, I would not put off retirement for that long, especially if you are giving up a match. I can understand if it was a year and you were sacrificing everything to get there, but 4 years seem too much time and too much money that you are leaving on the table. But I don't think you are screwed for life, unless that is what the kids are saying these days when they like their life partner. 
|
|
#
?
Jul 28, 2012 16:40
|
|
|
pinkgingham_19 posted:
That doesn't seem like enough money to afford a $450000 home even with a 20% down payment. You are looking at a >$1400 payment without taxes, insurance, and all the other bills that come with home ownership.
|
|
#
?
Jul 28, 2012 19:24
|
|
|
pinkgingham_19 posted:Pretty sure I am screwed for life. You're not screwed for life until you're stuck in a job that barely pays you anything and you're so poor that you can't even afford to move somewhere that has actual jobs.
|
|
#
?
Jul 28, 2012 20:11
|
|
|
dalstrs posted:That doesn't seem like enough money to afford a $450000 home even with a 20% down payment. You are looking at a >$1400 payment without taxes, insurance, and all the other bills that come with home ownership. Well, currently my partner makes almost the same as I do, and his earnings are expected to surpass my earnings very soon. He is halfway through an apprenticeship and will be making about 75k when he is finished. I am working on continuing professional development so my earnings are expected to increase. We are both skilled trades persons and my industry is very stable while he is with a very large contractor on a very long project ( completion 2014) But you know, anything can happen, we are not married and I would like to buy a house one day anyway. I just would like to have the money saved for a downpayment without relying on my partner ( he has much greater debt than I do ) It's extremely unlikely I'd ever be able to buy anything in my area on one salary. The median price for the type of home I'd like (townhouse) in my area is $470k.
|
|
#
?
Jul 29, 2012 01:20
|
|
|
pinkgingham_19 posted:Also, where should I put my down payment fund? I'd like to buy before July 2016, so I don't want anything too risky. Without getting into DO NEVER BUY territory, you might want to consider planning your house purchase around the market cycle rather than an arbitrary date. In an awful lot of Canada (if not most everywhere) the housing market could easily pull back by 10-20% and it could go even further down. I'm kind of in the same boat you are in that in a perfect world where house prices never move I would want to be buying 4 years or so down the road, but I would seriously consider trying to time the market considering how ungodly high the average debt load is getting.
|
|
#
?
Jul 29, 2012 02:19
|
|
|
Does anyone have a recommendation for a digital "Envelope Budgeting System"? Like an Android app or website? I want to try the system out, but I'm enough of a shithead that I can't afford to withdraw a month's supply of physical cash.
|
|
#
?
Jul 31, 2012 18:23
|
|
|
Mint.com and its budgets feature? There's an iPhone app for it, I'm sure there's an Android one as well.
|
|
#
?
Jul 31, 2012 18:33
|
|
|
|
| # ? May 10, 2024 19:19 |
|
|
There's probably a better way, but I do my envelopes (along with all my other tracking and budgeting) through mint. The way I do it is set a budget say for electronics of $100/month and set it to rollover. If this month I spend $50 on DVDs, next month the budget will read $150. In a year it may be $600 and I can use that to buy a new TV or something. The downside is that this isn't actually setting the money aside from your regular checking/savings account, which is one of the points of the envelope system. Your mileage may vary and I'd love to hear of another good way to do this.
|
|
#
?
Jul 31, 2012 18:36
|
|
