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thylacine posted:Props to that guy for spinning his story into a whole self-help brand for himself. I guess. He never says if he gave the money back. Wouldn't knowing you're depositing a fake check be a crime itself? It looks like he just has a shortened version of the story up now that doesn't talk about the ending, but from what I vaguely recall of reading it years ago, he didn't end up keeping it, although I don't recall whether it went back to the bank.
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Jan 11, 2014 23:19
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thylacine posted:Props to that guy for spinning his story into a whole self-help brand for himself. I guess. He never says if he gave the money back. Wouldn't knowing you're depositing a fake check be a crime itself? He gave it back. And yes, knowingly depositing a fake check is illegal.
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Jan 11, 2014 23:21
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BioEnchanted posted:
Did you punch anyone on your way out? No jury in the world would ever convict.
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Jan 12, 2014 09:00
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No, but I did accidentally blow them recruiting someone new by telling her "Well I've been here for 1 month and I've only been losing money." Even though I didn't mean to at the time, if I had to do it again I would. There was another new girl that I was more careful not to scare off, but I wouldn't warn her even in hindsight because she called me unemployable when I mentioned I was looking for something that actually paid money. Bitch can get scammed for all I care 
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Jan 12, 2014 13:10
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BioEnchanted posted:No, but I did accidentally blow them recruiting someone new by telling her "Well I've been here for 1 month and I've only been losing money." Even though I didn't mean to at the time, if I had to do it again I would. There was another new girl that I was more careful not to scare off, but I wouldn't warn her even in hindsight because she called me unemployable when I mentioned I was looking for something that actually paid money. Bitch can get scammed for all I care I interviewed at a few scam my companies and worked for one for one day. It's a whole mind think thing where it's just presented as normal to work that much, you get a "base hourly" but you literally get either that or "commission." It's really bad, but I would agree that it's a drat good way to learn how to avoid those companies for the future and understand how people can get roped in so easily.
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Jan 12, 2014 15:49
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pathetic little tramp posted:To be fair, it could just be the receipt of an actual cashier's cheque, but it does beg the question, why are they showing him just testing a ferrari and not actually driving it when the latter would be far more impressive? Yeah, cashier's checks come with a stub for personal records that says non-negotiable. Something tells me this guy showed up to the Ferrari dealer a wee overconfident. quote:...that you're paying cash and we did not agree to finance...
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Jan 12, 2014 19:56
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A list of famous people who have filed for bankruptcy. http://www.nashvillebankruptcy.net/famousbankruptcies.htm Some are quite surprising, like Walt Disney. Others, like MC Hammer, not so surprising.
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Jan 13, 2014 04:01
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Say Nothing posted:A list of famous people who have filed for bankruptcy. The list is (probably) 14 years out of date, sadly. Latest is 2000
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Jan 13, 2014 04:10
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Say Nothing posted:A list of famous people who have filed for bankruptcy. According to this, Marvin Gaye filed for bankruptcy almost 1000 years ago which is pretty cool.
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Jan 13, 2014 05:34
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Number Two Stunna posted:According to this, Marvin Gaye filed for bankruptcy almost 1000 years ago which is pretty cool.
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Jan 13, 2014 09:16
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http://translate.google.com/transla...rdam-terug.html The translation is horrible but Dutch is a horrible language anyway. A few weeks back, the municipality of Amsterdam made a mistake in their programming and electronic banking. When developing new systems, the new used cents where the old used Euro's, this difference was not noticed or warning were ignored. Any way, many people received a hundred fold of what they would normally receive. The people eligible for these subsidies were those already at the bottom of the food chain. Of the 188 Million (!) payed out, that should have been a total of 1.88, now about 185.6 has been returned. The remaining 2.6 is deemed problematic. Reported was that some of the poor who suddenly had thousands in their bank account: - went on a shopping spree - payed off open debts - moved the money into a savings account - Withdrew the money from an ATM and hid it - Returned the money to sender There is a mechanism in place in Dutch banking, called "incasso", where you allow the other party to withdraw from your account what they think you owe. This also allows for something like this to be rolled back, so the municipality first deposited 188M across 9000 accounts and then did a withdraw after a few days. It is a good thing overdraw fees are illegal in this country because many went into the red. --edit-- I actually made a comma error in a story about comma errors! Keetron fucked around with this message at 09:14 on Jan 14, 2014 |
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Jan 13, 2014 11:50
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Am I misreading, or is this only 10 fold and not 100 fold?
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Jan 13, 2014 22:01
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LorneReams posted:Am I misreading, or is this only 10 fold and not 100 fold? The article actually confirms it is 100 fold. Dutch Article posted:People had to get back, between 117.50 and 342.50 euros but now they were suddenly between 11,750 and 32,450 euros. As a result, the municipality had lost 188 million instead of 1.88 million.
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Jan 13, 2014 22:52
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That is so Michael Bolton.
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Jan 14, 2014 04:07
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Keetron posted:http://translate.google.com/transla...rdam-terug.html it's what Jesus would have wanted
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Jan 14, 2014 04:28
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Here's a good one from Reddit. This guy is funding his wife's future divorce. http://www.reddit.com/r/personalfinance/comments/1vg1nq/wife_is_weary_is_sharing_accounts_throwaway_time/ quote:My wife uses Reddit, so it's throwaway time.
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Jan 18, 2014 01:26
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Actually, I think the divorce process would grant the husband half of those assets because he can show that he has paid into them. However, he'd probably get blasted by alimony if she can get it. At least they don't have a kid yet.
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Jan 18, 2014 02:25
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Wickerman posted:Actually, I think the divorce process would grant the husband half of those assets because he can show that he has paid into them. However, he'd probably get blasted by alimony if she can get it. At least they don't have a kid yet. I thought you had to be married for a reasonably substantial amount of time for alimony - it's only been a year.
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Jan 18, 2014 18:10
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Engineer Lenk posted:I thought you had to be married for a reasonably substantial amount of time for alimony - it's only been a year. Yeah it's usually only an issue at 10+ years and in an instance where the other person hasn't worked at all during that time.
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Jan 18, 2014 18:44
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Shadowgate posted:Yeah it's usually only an issue at 10+ years and in an instance where the other person hasn't worked at all during that time.
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Jan 18, 2014 20:09
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Related video http://finance.yahoo.com/blogs/daily-ticker/i-earn-six-figures-and-still-feel-broke-215546862.html
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Jan 18, 2014 21:29
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Strong Sauce posted:Related video That one couple... We're broke, but we're saving for a wedding!!
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Jan 18, 2014 21:57
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Strong Sauce posted:Related video The first guy, the one from the video, said that if he had to do it over again, he would have paid down his student loans before saving up for a down payment on a house. Seems reasonable. But I start to wonder if he even had a down payment in the actual scenario, since the article said his mortgage started with an interest only loan period. I doubt that down payments and interest-only loans go together often. When will people learn that balloon mortgages and interest-only terms are setting yourself up for disaster? It's not hard to see that you would get nice and comfortable spending only tiny amounts on your house (effectively more like renting at that point than paying down your mortgage), increasing your spending to expand into amount "saved", and then be in all out loving  panic when you realize you have to up your monthly mortgage payment at the end of the initial term?
SpelledBackwards fucked around with this message at 22:06 on Jan 18, 2014 |
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Jan 18, 2014 22:03
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They were handing those out to basically everyone back in 2007. Down payment or not.
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Jan 18, 2014 22:22
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SpelledBackwards posted:The first guy, the one from the video, said that if he had to do it over again, he would have paid down his student loans before saving up for a down payment on a house. Seems reasonable. But I start to wonder if he even had a down payment in the actual scenario, since the article said his mortgage started with an interest only loan period. I doubt that down payments and interest-only loans go together often. Haven't watched the video (no sound right now) but the article says the same guy, "bought the home from his uncle for $520,000 at the peak of the bubble" in the SF Bay Area. Makes me wonder if there's any friction with the extended family about being tied to a house that is most likely underwater and costs 50% of his after-tax income. He also admits to bitching at his wife (who cares for their two little kids and waitresses on weekends) to get a "real job" with her engineering degree. I'm curious if this is the life she planned when she was going through school and racking up student loans.
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Jan 19, 2014 07:12
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Harry posted:They were handing those out to basically everyone back in 2007. Down payment or not. Yup, I got me one of those and then the market crashed, the housing market crashed and now it is indeed underwater. I rented it out and am making a small profit so I can live in a bigger house with all the unexpected kids that came in since.
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Jan 19, 2014 08:42
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SpelledBackwards posted:The first guy, the one from the video, said that if he had to do it over again, he would have paid down his student loans before saving up for a down payment on a house. Seems reasonable. But I start to wonder if he even had a down payment in the actual scenario, since the article said his mortgage started with an interest only loan period. I doubt that down payments and interest-only loans go together often. I have a friend of a friend type that is a new doctor. Huge student loans. Had his wife take out a loan so they could get the downpayment on a house, while he took out the main loan. They already want to move in about a year to a bigger house because of all the future kidz.
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Jan 19, 2014 08:46
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TLG James posted:I have a friend of a friend type that is a new doctor. Huge student loans. Had his wife take out a loan so they could get the downpayment on a house, while he took out the main loan. They already want to move in about a year to a bigger house because of all the future kidz. Doctor's are one of the high income/high debt careers in which this happens a lot. Growing up in a town whose main employer was a hospital/clinic let me see how some doctors would have to go to payday loan stores every week to stay afloat.
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Jan 19, 2014 11:45
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Harry posted:They were handing those out to basically everyone back in 2007. Down payment or not. Fair enough. My dad has some weird ideas about the stock market and technical analysis voodoo, but I'm thankful he and my mom insisted I go for a fixed rate and 20% down when I bought in 2008 (including a small cash gift from them to help complete the down payment). ...And for him buying me the book The Millionaire Teacher for Christmas in 2011. I wish I hadn't waited a year and a half to read it, but it completely changed my outlook last year on saving, investing, and understanding the idea of having your money work for you. Now BFC is by far the subforum I visit most. Thanks, goons!  Edit: That book and the FI megathread here have convinced me I'd rather put my recent savings into taxable mutual fund accounts rather than do what my dad was insisting last year and riskily extend myself to buy a 2nd home and use my existing one as an investment property. But if my situation changes and that becomes a reasonable route, I know how to evaluate the pros and cons thanks to everything I've learned in the last year... SpelledBackwards fucked around with this message at 12:02 on Jan 19, 2014 |
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Jan 19, 2014 11:57
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So my friend in Ireland bought a new build apartment for 500,000 Euro during the property boom which he thought was a great bargain at the time. It's only worth half that now and he can't sell it without being in negative equity. Rather than stay where he is he decided he wanted a house and he can rent out the apartment to someone (which won't even cover the mortgage even if it is always occupied by a tenant). So he has just bought a big house which needs lots of expensive building work done to it. He pretty much will owe the bank nearly a million euro once all the repairs are paid for. He is on good money but if he loses his job at any stage he will be beyond hosed. Wouldn't listen to anyone trying to talk him out of this great financial decision.
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Jan 19, 2014 18:42
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When you convert that to USD or AUD, throw in the European economy in comparison to those economies.. gently caress that poo poo. Glad I'm not him.
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Jan 19, 2014 18:58
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SpelledBackwards posted:
Honestly, it seems like that unless you are a handy man type of guy, there isn't a lot of money to be made. And it can end up poorly if stuff like you need to replace the furnace or something like that. That could take years to pay back with rent.
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Jan 19, 2014 19:56
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TLG James posted:Honestly, it seems like that unless you are a handy man type of guy, there isn't a lot of money to be made. And it can end up poorly if stuff like you need to replace the furnace or something like that. That could take years to pay back with rent. It seems like small-time landlord is a pretty risky business because all of your eggs are in a relatively small basket. Most of the people I know with an extra house as an investment property seem to be using equity gain as their primary method of 'making money' on the deal. Tony Montana posted:When you convert that to USD or AUD, throw in the European economy in comparison to those economies.. gently caress that poo poo. Glad I'm not him. Not just 'the Eurpoean economy' but Ireland in particular
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Jan 19, 2014 20:24
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I'm currently studying abroad in Ireland. I saw an advert in the college that was just a picture of a woman doing the stock photo laugh and the text "Even with my house in negative equity, Bank of Ireland helped me move!". I guess people never learn.
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Jan 19, 2014 20:32
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I lived in Ireland 2006-08. Before the dark times, before the Recession. Paid 1600+ Euros (when it was 1.35 to the $) to live in a place next to the LUAs. Now I live in SF....  Edit: Oh it is back to 1.35 :o
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Jan 19, 2014 21:27
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TLG James posted:Honestly, it seems like that unless you are a handy man type of guy, there isn't a lot of money to be made. And it can end up poorly if stuff like you need to replace the furnace or something like that. That could take years to pay back with rent. I've come to the same conclusion for now, given HVAC and water heater replacements I've made since moving in, and that doesn't even include negative cash flew of having two mortgages if the 1st house ever sits empty. I have done a good job of convincing my parents that it isn't for me. They were only insistent because they could feasibly do it (and did start 1-2 years ago) because their house is paid off and they've got other assets. But I'm not to quite so flush with money, nor am I all that handy. My new flooring and back patio I did myself with a friend, but it was entirely through his direction and expertise (and my funds)... he just enjoyed having a project to do. Now that he bought his own place that's 200 miles away, he has plenty of projects there, and my house drops on the priorities list.
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Jan 19, 2014 21:35
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Beep Street posted:So my friend in Ireland bought a new build apartment for 500,000 Euro during the property boom which he thought was a great bargain at the time. It's only worth half that now and he can't sell it without being in negative equity. Rather than stay where he is he decided he wanted a house and he can rent out the apartment to someone (which won't even cover the mortgage even if it is always occupied by a tenant). So he has just bought a big house which needs lots of expensive building work done to it. He pretty much will owe the bank nearly a million euro once all the repairs are paid for. He is on good money but if he loses his job at any stage he will be beyond hosed. Wouldn't listen to anyone trying to talk him out of this great financial decision. A ton of people in Ireland did this during the boom. A friend of mine actually bought 2 400K euro apartments in "up and coming" areas of Dublin and now collects rent way below the mortgage payment on each.
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Jan 19, 2014 22:36
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My sister just paid over half a million Australian dollars for a 2 bedroom apartment in Melbourne and apparently there is no end in sight for the property boom. A bubble isn't a bubble until it bursts, so in hindsight it's all obvious but at the time.. Still.. Australia has a lot going for it that lots of the Eurozone doesn't.
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Jan 19, 2014 22:47
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Tony Montana posted:My sister just paid over half a million Australian dollars for a 2 bedroom apartment in Melbourne and apparently there is no end in sight for the property boom. A bubble isn't a bubble until it bursts, so in hindsight it's all obvious but at the time.. Booms in large cities aren't usually Booms. Lack of space and location cause high demand and high prices that rarely go down. This is true of most countries in the world.
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Jan 20, 2014 00:08
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CapitanAmerica posted:Booms in large cities aren't usually Booms. Lack of space and location cause high demand and high prices that rarely go down. The only problem with this argument is that it ignores how policies such as negative gearing ultimately distort the market by encouraging speculation. As it stands, our taxation system is set up to provide huge benefits to those wealthy enough to afford multiple rental properties while first home buyers are being edged out of the market.
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Jan 20, 2014 00:58
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