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How do you live for three years without a salary coming in? Wouldn't she be bouncing checks all over the place?
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Oct 18, 2013 14:25
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Seems that hubby's salary was enough (it might have been higher than I quoted) to keep them going and that they used his account for expenditures. Seems nuts to me that you could just not once in 3 years check where your salary was.
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Oct 18, 2013 14:32
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You can bet if it was the bank's money, they be clawing back every penny.
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Oct 18, 2013 16:09
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If I learned anything from this thread and life in general it's that there's no point being financially responsible. You'll just die anyways.
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Oct 18, 2013 16:39
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Having just spent a few days in Las Vegas, I've seen more bad money decisions in these 72 hours than I have in the rest of the year. One guy was playing cheap roulette, like $3 minimum bet, just throwing out chips any and everywhere. He was betting on the lines and corners. I did the quick math on one of his bets, and he couldn't have made money even if his biggest bet had hit, which it of course didn't. I don't care how wealthy you are, when you're betting such that you can't possibly recover your bet, you're just giving away your money. I could write a whole post entirely on how much money people spend on alcohol here, but whatever. At least with booze, you get drunk.
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Oct 18, 2013 16:57
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johnny sack posted:Having just spent a few days in Las Vegas, I've seen more bad money decisions in these 72 hours than I have in the rest of the year. The lesson: The House always wins. melon cat fucked around with this message at 17:10 on Oct 18, 2013 |
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Oct 18, 2013 17:06
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Barfoid 3 posted:If I learned anything from this thread and life in general it's that there's no point being financially responsible. You'll just die anyways. Yeah gently caress freedom or power over your life and values, work forever, buy shiny plastic noisemakers, die!
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Oct 18, 2013 17:12
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The Berzerker posted:This is a really small one, but it just happened five minutes ago: Joke's on you, by pre-paying for the year he saved $4 
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Oct 18, 2013 17:22
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oldskool posted:Joke's on you, by pre-paying for the year he saved $4 I will admit to being one of those people who feels I would be losing money by passing up such opportunities. I think that's why I like shopping at Costco so much.
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Oct 18, 2013 17:24
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tuyop posted:Yeah gently caress freedom or power over your life and values, work forever, buy shiny plastic noisemakers, die! Well for all the psyduck emoticons in the thread not a single person has known anyone face any real consequences. Just a clean slate. I'm only on page 6 though. Also some classic goin victim blaming about people who don't understand their health insurance coverage as if its straightforward or something.
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Oct 18, 2013 17:25
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johnny sack posted:Having just spent a few days in Las Vegas, I've seen more bad money decisions in these 72 hours than I have in the rest of the year. Are you sure here? I'm discounting the green tiles, but all the numbers/corners/etc in roulette have the same odds. You can put chips out all over the table, and all it varies is how often you get any sort of win. Betting a number is a 1/36 bet and pays out 36x, betting a line is a 1/18 bet and pays out 18x, etc. Of course, there are green tiles and so the house has an edge and it isn't actually even, but it is pretty close to the same odds no matter how you spread out your chips on the numbers. Playing roulette at all is still pretty dumb.
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Oct 18, 2013 17:34
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Barfoid 3 posted:Well for all the psyduck emoticons in the thread not a single person has known anyone face any real consequences. Just a clean slate. I'm only on page 6 though. Also some classic goin victim blaming about people who don't understand their health insurance coverage as if its straightforward or something. Whether it's "easy" to be financially stable isn't really the point of this thread, from what I've seen. The point is peoples' poor fiscal responsibility is story-worthy - maybe especially when those people are complaining about money being tight It sucks when/if you hit hard times, but if you're shoveling money into modding your car or popping out kids all the while, you're absolutely an accessory to your troubles.
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Oct 18, 2013 17:35
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melon cat posted:Heh, that's the funny thing about about people and casinos. Everyone who goes to the casino thinks that they can beat the system. Everybody. That's a bit of an unfair generalization. I think Blackjack is just a fun game, and I don't mind blowing $50 to sit down and play for an hour while the free drinks flow.
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Oct 18, 2013 17:38
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melon cat posted:Heh, that's the funny thing about about people and casinos. Everyone who goes to the casino thinks that they can beat the system. Everybody. I've had clients call me late at night to increase their overdraft limit/daily withdrawal limit because "I feel my luck turning around!" then flip their poo poo when I decline them/refuse to add additional overdraft. It's like watching a drug addict go through withdrawal.
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Oct 18, 2013 17:41
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Jeffrey posted:Are you sure here? I'm discounting the green tiles, but all the numbers/corners/etc in roulette have the same odds. You can put chips out all over the table, and all it varies is how often you get any sort of win. Betting a number is a 1/36 bet and pays out 36x, betting a line is a 1/18 bet and pays out 18x, etc. Of course, there are green tiles and so the house has an edge and it isn't actually even, but it is pretty close to the same odds no matter how you spread out your chips on the numbers. He was betting multiple corners, lines, red or black (not both, he wasn't that dumb), just throwing them out there with impunity. I'm sure he thought that he had a strategy but I only saw his chip stack decrease. I mean there really is no strategy to roulette, the 0's are there solely to prevent any such strategy.
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Oct 18, 2013 17:56
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johnny sack posted:He was betting multiple corners, lines, red or black (not both, he wasn't that dumb), just throwing them out there with impunity. I'm sure he thought that he had a strategy but I only saw his chip stack decrease. I mean there really is no strategy to roulette, the 0's are there solely to prevent any such strategy. It's not an actual strategy that wins, there's obviously no such thing. It is just that throwing chips all over the table has pretty much the same expected payout as betting on black. Betting on both colors is the exact same expected value also, you can just never temporarily get ahead of it and walk away. The greens skew things for the house and change the expectations so they may be slightly different, but his plan is no dumber than just betting on red all night. I could do a bunch of math if you care but really, it is the same, the payouts are all proportional to the odds no matter where you put your chips. I would never play roulette but if I did it sounds more fun to bet on a bunch of things. You can bet on 2/3s of the numbers and win a little less than 2/3s of the time, and make money if you get lucky on that. (You get that winning feeling more often this way and otherwise the same negative payout, yay dopamine!) Jeffrey of YOSPOS fucked around with this message at 18:35 on Oct 18, 2013 |
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Oct 18, 2013 18:13
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Barfoid 3 posted:not a single person has known anyone face any real consequences. Just a clean slate. I am a person who faced real consequences. From 2006 to 2010 I went on fourteen overseas or international vacations. I took out student loans and lived on my own and went on vacations instead of paying for my full university with my three jobs. When I had complications with my pay at my job, I decided to live on a 12.5k limit credit card, which I maxed out. I financed a car (72 months at 1.9%!) that cost the same as my annual take-home pay and then drove it into the ground (it's now got 152 000 kilometers on it and is 29 months old), which put the car severely underwater. Because of all of this, I accumulated nearly $58 000 worth of debt. I then discovered that I hated my job, but actually couldn't leave. If I worked a nine hour day, six of those hours were eaten by the lifestyle I'd made for myself. That is the consequence, and it's much worse than not having positive net worth or not being able to make a hobby of managing your portfolio. The consequence of stupid financial decisions is slavery. And the ridicule of the financially-savvy minority, obviously.
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Oct 18, 2013 19:43
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Barfoid 3 posted:If I learned anything from this thread and life in general it's that there's no point being financially responsible. You'll just die anyways. Why shower, you'll just get dirty again.
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Oct 18, 2013 19:58
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johnny sack posted:He was betting multiple corners, lines, red or black (not both, he wasn't that dumb), just throwing them out there with impunity. I'm sure he thought that he had a strategy but I only saw his chip stack decrease. I mean there really is no strategy to roulette, the 0's are there solely to prevent any such strategy. I had a business meeting at a casino once (a company had rented a room there to do a presentation for a bunch of potential clients) and at the end of the meeting we were all given a 2 EUR chip, so my boss suggested the roulette as the quickest way to get rid of them. I put my chip on 31 (because 31st of July is my birthday). And of course I won. The only other player at the table was a Russian guy who immediately put a huge stack of chips on 31. I guess that counts as strategy in roulette... 
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Oct 18, 2013 21:20
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jkk posted:I had a business meeting at a casino once (a company had rented a room there to do a presentation for a bunch of potential clients) and at the end of the meeting we were all given a 2 EUR chip, so my boss suggested the roulette as the quickest way to get rid of them. I put my chip on 31 (because 31st of July is my birthday). And of course I won. The only other player at the table was a Russian guy who immediately put a huge stack of chips on 31. I guess that counts as strategy in roulette... I like to think that he had just never played roulette before and thought he had seen a pro at work.
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Oct 18, 2013 21:48
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I'm going to a casino for a cruise convention tomorrow. Will bet on 31 and report back. This better work, jkk
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Oct 18, 2013 21:58
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I expect a cut of your winnings if it does 
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Oct 18, 2013 22:02
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The real roulette strategy is to use one of those PDA+earpiece deals to predict what area the ball will land in. If you don't get caught you can win hugely with those.
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Oct 18, 2013 22:04
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Here's what a friend of mine is currently doing: 3 months ago: I'm going to sell my dirt bike because it's too expensive to ride. We are saving for a house and could really use the money. 6 weeks ago: I'm buying a go kart!!! 2 weeks ago: I just spent a lot of $$$ getting this go kart ready to race. today: Here's my brand new $430 racing suit! He's spent well over the amount he gained from selling the dirt bike but is completely oblivious because it's been spread out over a few months. This guy and his wife make close to 90k combined in an area with a *very* low cost of living. They live paycheck to paycheck because they are constantly doing stuff like this and can't figure out why they are always broke.
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Oct 18, 2013 22:08
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turp-o-matic posted:Here's what a friend of mine is currently doing: miners.txt or cubs.txt for  I know a number of people who moved to crappy mining towns chasing big money mining jobs. That's all they can find to do in the middle of the desert, spend money on things with engines or things that go boom.
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Oct 18, 2013 23:36
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I'm not close enough to this couple to know if they're broke or not, but I have a feeling they are. The husband is the same age as I am (24) and graduated from the same university I did, except a year before. He got married shortly after getting a job (Engineering job in oil and gas town, Alberta, Range of starting incomes is $55k to $90k, with $60k median, I think) and has already bought a house. I believe he's supporting both his, and his wife's student loans. She regularly does things like couriers baked goods to him at work. She's currently a student and writes a really twee blog for the radio station on campus. I don't even want to know what his income:debt ratio is. Or how much interest he's paying on everything.
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Oct 18, 2013 23:38
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I don't think that story seems bad with money. I bought a house because it was cheaper than renting, they may have too. If she is still in school I doubt they have to pay any on her loans. Being an engineer in the oil business can result in extremely good bonuses as well. They could be stretched out but there is no real way to tell. My father in law was bad with money when my wife was a child and in high school. He would buy a crap house to fix up, over pay and it would fall apart. He lost money every time. He would get a girlfriend and spend all his money on cigs, mountain dew, and drugs for them while ignoring the kids. He stole my wifes credit card when she was 17 and ran up $7k in expenses. She told me that he would ask her if she liked heat and electricity or wanted he brother to freeze and then pay the bills on her. She took out additional student loans to pay it off a when she was 21. He lost the last house when she was a senior and moved into a barn. Where did the kids go? Who knows (my wife lived in her car and her brother stayed in a friends laundry room...). He didn't pay taxes for 5 years and it disqualified my wife from federal loans for her first 2 years of college. It goes on a on. He has a good factory job now and still lives on a barn on a ranch. Last my wife talked to him was 3 years ago after she told him to pay her back the $7k (probably closer to $10k with years of interest...) And he said he would but hasn't sent a dime. Oh family...
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Oct 18, 2013 23:54
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My brother decided to go to grad school to get a history of science masters, after he couldn't get a job with his BA. Surprisingly, he wasn't able to find a job with his MS either. He decided the only way to pay off his 70k in student loans is to become a lawyer, because they make lots of money right when they graduate. I'm pretty sure that even if he gets the 160k a year he thinks he will make upon graduating, I doubt it will make a meaningful dent in the 250k he is racking up in student loans.
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Oct 19, 2013 00:15
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spwrozek posted:I don't think that story seems bad with money. I bought a house because it was cheaper than renting, they may have too. If she is still in school I doubt they have to pay any on her loans. Being an engineer in the oil business can result in extremely good bonuses as well. They could be stretched out but there is no real way to tell. Its kind of borderline. I'm not totally sure because I'm not close to them, but housing isn't cheap here. But university is cheaper than in the states. For all I know his parents could've payed for his university and wedding and getting a house after a year of working a cushy engineer job wouldn't be too surprising. Or it could be the other way around, I know he cares a lot about appearances.
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Oct 19, 2013 00:51
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oldskool posted:Joke's on you, by pre-paying for the year he saved $4 He actually overspent, when you factor in his 4 weeks of vacation and holidays (like Good Friday) when we're closed. Also, we can't wear jeans on Fridays if we have a networking event happening (we have one next Friday).
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Oct 19, 2013 01:11
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The Berzerker posted:He actually overspent, when you factor in his 4 weeks of vacation and holidays (like Good Friday) when we're closed. Also, we can't wear jeans on Fridays if we have a networking event happening (we have one next Friday). Yeah but according to someone in this thread, apparently there's no downside whatsoever of being bad with money! So whatever man! Just blow it all because we all die.
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Oct 19, 2013 01:41
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spwrozek posted:I don't think that story seems bad with money. I bought a house because it was cheaper than renting, they may have too. If she is still in school I doubt they have to pay any on her loans. Being an engineer in the oil business can result in extremely good bonuses as well. They could be stretched out but there is no real way to tell. How did a 17 year old have a 7k credit card?
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Oct 19, 2013 04:24
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This was obviously back in the good old days.
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Oct 19, 2013 04:27
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thylacine posted:How did a 17 year old have a 7k credit card? I'm guessing he took one out in her name or something?
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Oct 19, 2013 05:07
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She had to work since she was 12. When she was 8 she made dinner every night. Often a piece of bread with butter and a soup of noodles and a bullion cube. (Obviously they were really poor, but mom and dad had to have smokes and soda of course...) As far as getting a card at that age I am not sure how it went down. But basically she needed it to survive from what she tells me. This would be around 2000 when it happened. spwrozek fucked around with this message at 05:30 on Oct 19, 2013 |
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Oct 19, 2013 05:28
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NoControl posted:My brother decided to go to grad school to get a history of science masters, after he couldn't get a job with his BA. Surprisingly, he wasn't able to find a job with his MS either. He decided the only way to pay off his 70k in student loans is to become a lawyer, because they make lots of money right when they graduate. I'm pretty sure that even if he gets the 160k a year he thinks he will make upon graduating, I doubt it will make a meaningful dent in the 250k he is racking up in student loans. Thank god for Income Based Repayment.
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Oct 19, 2013 18:18
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razz posted:Thank god for Income Based Repayment. I am fairly sure he wouldn't qualify if he is making 160k.
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Oct 19, 2013 19:33
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razz posted:Thank god for Income Based Repayment. Yeah, but won't you be a slave for life or does this has a maximum period that it can run?
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Oct 19, 2013 19:40
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Keetron posted:Yeah, but won't you be a slave for life or does this has a maximum period that it can run? It's actually a really legit deal. Your payments can't be more than 15% of your income (and it scales up or down if say, you get a better job, or lose your job or whatever). Also there's a minimum income you have to make before it kicks in at all, I think it's something like maybe $20K a year? All I know is I make like $16k a year and my IBR payments would be zero since apparently I am under that threshold (my loans are deferred right now) And it drops off totally after I think 25 years. You'll have to look it up. So theoretically if someone racked up $200K in debt and made minimum wage for the next 25 years they'd either never pay a dime of it or would never pay it all off in 25 years due to the minimum payments being so small, it would be "forgiven" before they paid it off. Edit: Here's the pertinent information. http://www.ibrinfo.org/what.vp.html Basically with IBR no one ever has to be crippled by student loan debt and it makes me crazy that people don't know about it. I still have friends who bitch about their student loan payments and they're totally eligible for IBR, they're literally just too lazy to sign up. I just put in my loan debt ($19,000) along with my current income and my husband's current income. My monthly payment would be $30. If I just paid the loan people directly, it would be around $180. Doing the math on that, if our incomes never increased (which would suck and isn't going to happen but whatever) after 25 years I'd have paid a total of $9,000. The rest would be forgiven. razz fucked around with this message at 20:23 on Oct 19, 2013 |
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Oct 19, 2013 20:12
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razz posted:And it drops off totally after I think 25 years. You'll have to look it up. So theoretically if someone racked up $200K in debt and made minimum wage for the next 25 years they'd either never pay a dime of it or would never pay it all off in 25 years due to the minimum payments being so small, it would be "forgiven" before they paid it off. Unfortunately, under regular IBR, the debt forgiveness triggers a taxable income event equal to the amount forgiven. http://www.finaid.org/loans/forgivenesstaxability.phtml quote:The balance remaining after 25 years of repayment under ICR and IBR is forgiven. This forgiveness is taxable because it does not require employment in a particular profession.
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Oct 19, 2013 20:27
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