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Nail Rat posted:Just realized my parents belong in here. Holy poo poo. Is your dad financing 100k+ cars? Or is it just massive amounts of poor decisions?
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Apr 24, 2014 21:31
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how do people gently caress up this bad.
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Nail Rat posted:Just realized my parents belong in here. There's missing information here - what are they really spending the money on Gambling?
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Apr 24, 2014 21:34
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Bloody Queef posted:Holy poo poo. Is your dad financing 100k+ cars? Or is it just massive amounts of poor decisions? The latter. His most expensive financed cars have been around 35k or so. But he has never once, at least in the last 15 years, paid one off and driven it for a few more years. He's always trading for something new a few years later, and probably rolling an underwater loan into the new once, since deprecation is probably ahead of his payment schedule. quote:There's missing information here - what are they really spending the money on Nope! There used to be gambling but my mom got over that addiction years ago. Somehow the furthest they got in debt from that was only about 10k, but that seemed insurmountable to them because they spend to their means. They recently came into a 45k windfall inheritance and my father realizes they've hosed up, so I'm hoping he's using that to invest...but my confidence is not high. Nail Rat fucked around with this message at 21:38 on Apr 24, 2014 |
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Apr 24, 2014 21:35
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Nail Rat posted:Nope! There used to be gambling but my mom got over that addiction years ago. Somehow the furthest they got in debt from that was only about 10k, but that seemed insurmountable to them because they spend to their means. I have a family member that got "over" their gambling addiction and still sneaks over to a casino on their breaks from work, and their spouse is in the dark about it Be wary
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Apr 24, 2014 21:41
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Eh not worth it. I'll put it elsewhere.
Veskit fucked around with this message at 22:46 on Apr 24, 2014 |
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Apr 24, 2014 22:13
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Six months is a long-rear end time to a kid. He probably figured one of you would forget, which is pretty fair. e: also, how does it feel to be literally this guy? Anne Whateley fucked around with this message at 22:29 on Apr 24, 2014 |
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Apr 24, 2014 22:16
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i like nice words
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I would never have made that mistake, my first word was "annuity"
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Apr 24, 2014 22:20
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Veskit posted:So today is bring your kids to work day. I had 2 bucks in my pocket. I pulled aside the one coworker in my pod that brought his kid to work. I told the kid (he's in third grade), hey I'm veskit. Here's the deal. I have 2 bucks in my pocket. I'll give you this 2 bucks now and you can get a candy bar downstairs and annoy your dad more, OR, next trime i see you on halloween I'll have 5 bucks you can have. If you don't take the money that time, I'll give you 10 dollars in a year. Hows that sound kid? What do you want? Jesus Christ, you are the most obnoxious person. You're like a BFC Batman whose sole tool on the utility belt is wind-baggy condescension.
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Apr 24, 2014 22:25
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Well in the classic marshmallow test, you can double your reward in 20 minutes. Maybe if you offered him $2^(365*24*3) dollars in a year he would've gone for it. I think that's a 1 with about 7884 0's behind it.
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Apr 24, 2014 22:28
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Cranbe posted:Jesus Christ, you are the most obnoxious person. You're like a BFC Batman whose sole tool on the utility belt is wind-baggy condescension. Not worth it. I'll calm down the douche baggery or whatever but i promise you it wasn't the scene you're painting in your head. Veskit fucked around with this message at 22:47 on Apr 24, 2014 |
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Apr 24, 2014 22:31
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Edit: nevermind.
MC Hawking fucked around with this message at 22:44 on Apr 24, 2014 |
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Apr 24, 2014 22:41
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You boring motherfuckers editing your posts. God drat.
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Apr 24, 2014 23:48
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I got three posts into this thread when bored at work before enrolling in the 401k program. Not really sure what I did but its a start. Thanks, I think.
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Apr 24, 2014 23:57
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Your Dead Gay Son posted:You boring motherfuckers editing your posts. God drat. Here's a synopsis: Veskit tried to talk a kid out of wanting to feed the birds for tuppence a bag and he and all of his rich old man banker friends sang a song together. Everyone else in the thread said "interest rates are garbage right now anyway, feeding the birds is the better investment"
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Apr 25, 2014 00:22
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canyoneer posted:Here's a synopsis: Veskit tried to talk a kid out of wanting to feed the birds for tuppence a bag and he and all of his rich old man banker friends sang a song together. A good post.
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Apr 25, 2014 00:57
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Your Dead Gay Son posted:A good post. The best one! Way better than mine 
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Apr 25, 2014 01:19
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Less derails, more figurative burning of money (or literal, if you have those stories too)
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Apr 25, 2014 01:31
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My first computer I purchased with my own money was an eMachine. I'd have been better off taking $800 and burning it. Is this being bad with money or just making incredibly poor consumer spending decisions?
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Apr 25, 2014 02:35
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I was a smoker for 2 years with zero income. I also could only smoke american spirits. I was very bad with money and my health
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Apr 25, 2014 02:39
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Cranbe posted:Jesus Christ, you are the most obnoxious person. You're like a BFC Batman whose sole tool on the utility belt is wind-baggy condescension. You are my hero.
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Apr 25, 2014 02:47
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Cranbe posted:Jesus Christ, you are the most obnoxious person. You're like a BFC Batman whose sole tool on the utility belt is wind-baggy condescension.
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Apr 25, 2014 02:47
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I dunno I guess I could just post probably a good third of the people that call in to me. I'm an insurance agent and you would seriously be surprised exactly how many people are all about instant gratification with their auto insurance and their car purchases. People will call in as a part time worker at a fast food joint and be leasing a 2014 Honda Civic at age 19 and complain that the insurance is too high. Lease it anyways. Also, and this probably applies to more industries than mine, but goddam, trying to get someone to spend $60 upfront for guaranteed no-poo poo $300 back immediately off a policy is like pulling teeth. How can you say no to this? Literally said "You give us $60, we give you $300 off this policy RIGHT NOW FOREVER". Nope nope nope nope.
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Apr 25, 2014 04:57
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Yeah I don't understand why people wouldn't trust a nonsensical, sounds-too-good-to-be-true offer from a financial institution. Contribution: an acquaintance of mine told her boss she doesn't like the job, so she's leaving as soon as she finds anything better. Countdown until she shows up to find someone else at her desk?
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Apr 25, 2014 05:03
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Jastiger posted:Also, and this probably applies to more industries than mine, but goddam, trying to get someone to spend $60 upfront for guaranteed no-poo poo $300 back immediately off a policy is like pulling teeth. How can you say no to this? Literally said "You give us $60, we give you $300 off this policy RIGHT NOW FOREVER". Nope nope nope nope. You fucks. Instead of just giving people the drat price you'd be willing to offer, you pull this dickering poo poo. I hate that with insurance. I fully understand the reasoning for it, and I admit that it's brilliant because people on the whole are idiots, but it's not doing anything for an industry I regard as just as scummy as used car sales and loving MLM companies. Aaaargh I deal with medical insurance all day and I hate auto just as much
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Apr 25, 2014 05:27
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NancyPants posted:You fucks. Instead of just giving people the drat price you'd be willing to offer, you pull this dickering poo poo. I hate that with insurance. I fully understand the reasoning for it, and I admit that it's brilliant because people on the whole are idiots, but it's not doing anything for an industry I regard as just as scummy as used car sales and loving MLM companies. Well...I can understand if its a snake oil underhand thing and if there is a catch. But there really isn't. Its like getting a Costco membership, you pay some up front in order to save bulk (with smart purchasing!) later. It just makes sense in a lot of cases if you sit down and math it out. Its not for everyone, and so a membership isn't for everyone. Its pretty black and white when I discuss this with people. Your policy is $1000. This is optional, you pay $60 additional today, and your total policy cost will go to say $750. Do you want to do this? You pay 810 today and you dont pay $1000." cut and dry. I don't see that as MLM stuff so long as there is no catch and you're honest with people.
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Apr 25, 2014 05:49
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There is a time value for money. The sooner your insurance provider gets the cash from you, the better their life is. So they cut you a discount to encourage you to pay up front.
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Apr 25, 2014 05:57
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We've basically just been conditioned to think that the more complicated option that sounds better is a trick. It usually is, because if you really just wanted to save us money, your prices would be lower. Lower prices would make you the better choice over your competitors, so you would offer them if you could. If you can't offer lower prices, there has to be a catch for a complicated option. If there's no catch, you would de-complicate the process so that your better, easer option makes you a good choice over competitors. Since you haven't done this, there must be something I don't understand about your more complicated option, which makes me not want to choose it. If, in this instance, things are as you say, the problem is with your marketing and PR department, because you could be selling it in a non-threatening way. The only thing I can figure is that your company can't actually afford to provide this service at a reduced cost for everyone, so the leave it so that only smart, confident people who can see that there's no trick will actually take the discounted price. They will be happy customers because they will feel that they have gotten a good a deal. Customers who turn down the offer but still get your regular service will feel like they didn't get fooled or at least that they made a safe financial decision. edit: ^yes, there is a time value associated with money, and if that's literally the only reason for the offer, they can market it in a less suspicious way.
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Apr 25, 2014 06:02
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I understand there's no catch. The point is, why not just price the policy $260 lower instead of playing this shell game? The answer is obvious: the company gets that higher premium from people who are willing to pay more even when they get no greater value from the policy. I just think that doing business that way is a fat load of horseshit, not that insurance is in any way the only industry that does it. It's just the only one that I'm legally obligated to deal with. I don't get anything from the money I pay in insurance. If I don't use it, great, that's a few hundred into a black hole that I couldn't put up my nose/into my belly/in a stripper's thong. If I do use it, I'm out the premium plus the deductible AND guess what I'm going to start dumping even more money into that black hole every month. I mean gently caress, at least rent puts a roof over my head. I think I'm just mad and jealous that I didn't invent it. E: I understand the concept of a discount for paying all up front because I'm not a loving retard. This isn't that. BonerGhost fucked around with this message at 06:18 on Apr 25, 2014 |
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Apr 25, 2014 06:15
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Jastiger posted:Also, and this probably applies to more industries than mine, but goddam, trying to get someone to spend $60 upfront for guaranteed no-poo poo $300 back immediately off a policy is like pulling teeth. How can you say no to this? Literally said "You give us $60, we give you $300 off this policy RIGHT NOW FOREVER". Nope nope nope nope. Says a lot about how much people trust you.
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Apr 25, 2014 06:35
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So lazy people end up paying more. How is this different from anything else in life? We're not talking about variable universal life insurance here. The people who can't be bothered to work out this bit of basic financial literacy are the same ones up to their eyeballs in credit card debt. All in all, there are much scummier industries out there. Who spends their time getting worked up about insurance? It's probably the most boring part of personal finance.
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Apr 25, 2014 07:17
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I've been avoiding posting about my sister in-law, because I live in a bit of a glass house when it comes to finances. However, recent events firmly qualify and her and her husband for this thread. Both are piled up for student loans. For the wife they weren't a bad deal because she managed to turn that into a teaching job that pays okay. Her husband was working part time retail while attending school, which he recently finished before taking a job in a completely different field, which means he's wasted his education costs since it was for a specialized field he isn't going near anymore. They spent a good chunk of money they didn't have on stuff, and piled up a bunch of credit card debt. Several years back they financed a brand new Rav4 as well. They managed to keep the debts serviced and not fall any further, which is a good step, but next they moved from a very reasonable apartment to a duplex house they bought, which from what I can tell is at the limits of their own affordability. Why are they doing this? Because she wants to have a kid, and of course you need to own a house before you have a kid. Having raised two kids in an apartment, their old apartment would have been just fine for them. Rent was reasonable, the place was plenty big enough for a single kid, even two would have been fine. So next up they do get knocked up, which is good news except they are at their limit financially, about to have her income (which is the higher of the two) cut down when she goes on maternity leave, plus they have the costs of the kid to deal with, so in preparation for all of this, they finance a brand new Mazda 6. Because they need a second car that can last the winter. Just wait until they discover the price of childcare. They are already struggling to pay the bills at the current income. It's not going to take much going wrong to push them into bankruptcy with the situation they've set up. I think the worst part is she compares herself to her two sisters and what they can do. My other sister-in-law bought a place, but it was cheaper, her and her partner are frugal and debt free, plus they earn more money to begin with. My wife and I spend more due to higher incomes, but we never would have bought a second new car we didn't need, or a house we could barely afford. We've done dumb poo poo financially, but never so many things combined.
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Apr 25, 2014 09:25
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Jastiger posted:Well...I can understand if its a snake oil underhand thing and if there is a catch. But there really isn't. Its like getting a Costco membership, you pay some up front in order to save bulk (with smart purchasing!) later. It just makes sense in a lot of cases if you sit down and math it out. Its not for everyone, and so a membership isn't for everyone. Yeah there is absolutely no way I'm going to trust a single thing you say over the phone without seeing it on paper. You're a salesman so I already know you're trying to gently caress me over as much as possible, and worse you work for an insurance company which are all inherently scum and make it a business model to gently caress everyone over as much as they can get away with. So I don't really blame those people for not listening to you.
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Apr 25, 2014 10:54
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Jastiger posted:I dunno I guess I could just post probably a good third of the people that call in to me. I'm an insurance agent and you would seriously be surprised exactly how many people are all about instant gratification with their auto insurance and their car purchases. Am I doing something wrong with auto insurance? Because I get something like $20 off for paying my policy in full at renewal. I've received the same discount offer with Geico, Progressive and State Farm so it's not like I'm not shopping around. My policy is also $1680 a year, so it ain't cheap (high limits for my wife's car and mine)
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Apr 25, 2014 11:14
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Why do people even bother with insurance agents when you can buy insurance direct from a company online? What value are you getting there?
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Apr 25, 2014 13:01
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100 HOGS AGREE posted:Why do people even bother with insurance agents when you can buy insurance direct from a company online? What value are you getting there? My agents company reps 8 different ones. I say find me the best car and home rates combined and she makes it so. spwrozek fucked around with this message at 14:36 on Apr 25, 2014 |
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Apr 25, 2014 13:08
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I went on clickinsurance.ca, filled out the form, got three quotes and went with the lowest. I don't think she's an independent agent, but hey, the price and coverage is right, what do I care? I don't have time to go to every single company and price-shop. Whatever cost the agent or website ends up rolling into the price of my policy is worth it for the time savings. (Assuming you get a good deal, and seeing as I'm paying about 50% less than I was, I'm happy.)
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Apr 25, 2014 13:25
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Nail Rat posted:Just realized my parents belong in here. This is literally the position my parents are in now (salaries and house price pretty much line up perfectly, too). Except my dad has been making six figures for close to two decades, wants to buy a Ducati and a sports car and move to LA from the Midwest.
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Apr 25, 2014 13:38
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100 HOGS AGREE posted:Why do people even bother with insurance agents when you can buy insurance direct from a company online? What value are you getting there? I actually love my insurance agent. They get back to me within an hour if I have any questions, they make sure I get every single discount, they do the shopping around for me and get insurance from small local companies that I wouldn't have thought to look (and it's a good price), they also represent me and work for ME. This is because they work off commission and being good to me gets them a lot and loving me over gets them very little. (Very little being a tiny amount of money. A lot being everyone who asks me about insurance I tell them to go to them.) OTOH, an insurance company gets every penny of loving you over. An example: My insurance agent was very clear to me, "DON'T CALL THE INSURANCE GUYS DIRECTLY. Call us if first if you want to file a claim so we can figure out if it's a good idea to since we want to make sure your prices don't skyrocket if you do." Same thing with a good mortgage broker by the way. I had a really good one who literally recommended a change that would save me like $600 (and lose him maybe $3 since he is also percentage commission based) that he could have just ignored. Also answered my phone calls at 9pm. So now I am telling everyone to go with him and giving him tons of business because that is what a good independent agent gets for being good. EDIT: Caveat, I talked to a bunch of insurance agents that were still scum though so YMMV. ExtrudeAlongCurve fucked around with this message at 13:59 on Apr 25, 2014 |
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Apr 25, 2014 13:43
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I totally get the hesitance to trust an agent, I totally get it. I'm not talking about a snakeoil "sign here now and SAVE SAVE SAVE!" I'm talking about having an hour long conversation with someone, explaining in detail what it is, how it works, doing the math and people saying: "nah, no thanks. I'd rather pay an extra $40 a month because I am conditioned to say no". I think its less about trusting me personally and more about a conditioned response to refuse anything that you're offered. Is there a reward for the insurance company? Absolutely, in the form of retention since if you have the discount you're less likely to leave. Does it save money with no strings attached? Absolutely. Like I said, its closer to a Costco membership than anything else. The savings are real, but primarily if you sit down and do the math and make smart purchases. Boris Galerkin posted:Yeah there is absolutely no way I'm going to trust a single thing you say over the phone without seeing it on paper. You're a salesman so I already know you're trying to gently caress me over as much as possible, and worse you work for an insurance company which are all inherently scum and make it a business model to gently caress everyone over as much as they can get away with. Its because of this more than anything. I am not going to say my company is a perfect snowflake that does no wrong and isn't out to make money. But I think the deluge of discount insurance companies have created a negative attitude about the kinds of products you're being offered and the process on how it works. You can have a great experience like ExtrudeAlongCurve has, or you can have a terrible experience like NancyPants. But I think we can all agree that anyone that buys something and refuses to do any research or buy s the first thing handed to them is Bad With Money. Like these 18 year olds that with 3 speeding tickets wondering why their insurance is so high for that Mazda RX 8...and take money from family to pay for the high rates. Then the family gives them the money, reinforcing the silly purchases and the cycle repeats itself. Keeps car dealers and insurance companies in business though I guess. Jastiger fucked around with this message at 13:55 on Apr 25, 2014 |
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Apr 25, 2014 13:53
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Boris Galerkin posted:Yeah there is absolutely no way I'm going to trust a single thing you say over the phone without seeing it on paper. Every insurance company in the world makes it pretty cut and dry on paper what any paid in full discount is. You can see it on the website if you apply, they can email the quote to you, or you can walk into the office to see the paperwork if you're dealing with an agent that has a physical office. Say you get a $1000 a year auto policy. It's $900 a year if you pay in full up front, because: A) the company doesn't have to produce a bill to send or make electronically available to you each month. B) they don't have to worry about you falling behind on your payments and having your policy be cancelled and reinstated, or possibly having to send you off to collections if you fall in arrears. C) You probably have some money lying around anyway, meaning you might be more likely to pay for a small, self caused accident yourself rather than filing a claim. That being said, if you don't have $900 lying around, you're probably going to pass and go on a monthly option. The savings is nice, but if you don't have it, you don't have it. I used to pay mine in full every 6 months, mostly because it would fall on my months when I got 3 paychecks instead of 2, being paid bi-weekly. Then I changed jobs, dropped a bit in pay, and hit some rough patches. I moved to a monthly EFT, because even with the loss of the Paid in Full discount, it was the only way to keep the insurance. I've done rate checks, and the company I'm with still offers the best rates. That's not to say that a fair amount of independent agents aren't scummy people. I spent 4.5 years taking calls from them at the rate of 70 a day in a call center. A lot are crap at what they do, and sleazy too boot. Oddly, the best ones were in places like small town Alabama and Mississippi...if you're smart and competent, but don't want to or can't leave your small town for some reason, being the local independent agent is one of your best options to make a decent living without wanting to slit your wrists.
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