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Reddit has been extra entertaining recently. Must be that time of year. Made a mistake by acquiring my girlfriend's $10k worth of credit card debt... help quote:my girlfriend transferred over all of her credit card debt into it, totaling about $10K, taking up most of the available credit ($12k limit). We agreed that she should do it (so she didn't do it secretly), but I'm regretting that greatly. I'm in a bind, because I'm thinking of ending the relationship...  "I dont want to pay my studet loan" quote:I don't want to pay because I had outstanding grades but the school wasn't an accredited school. What can I do or who do I call to get out of the payments or have them reduced? It's been 4 yrs since I graduated and my mom was was a Co signer for the loan. I never made made a payment
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Jul 22, 2014 23:17
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Heads up, there's a thread in A/T about driving for Uber / Lyft and there's some strange thinking about buying Lexuses as an investment in there.
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Jul 22, 2014 23:45
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The secret that THEY don't want you to know (and loan officers hate!) is that if you just make a few of the right phone calls explaining that the debt isn't really working out for you--while continuing to NEVER pay your loans--the banks will just shrug and let it go.
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Jul 22, 2014 23:55
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Thesaurus posted:The secret that THEY don't want you to know (and loan officers hate!) is that if you just make a few of the right phone calls explaining that the debt isn't really working out for you--while continuing to NEVER pay your loans--the banks will just shrug and let it go. drat, I wish I found this out before I wasted 2 1/2 years of my life living with my parents and driving a junker just so I could pay my student loans off faster. For content, this came up in GBS recently and I thought it was hilarious. Yeah, give me $30 and I'll give you a box of random stuff. I totally swear you'll get your money's worth. Pinky promise.
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Jul 23, 2014 00:30
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HelloIAmYourHeart posted:My coworker has crippling pain in her hand and arm due to tennis elbow or carpal tunnel or something, and she refuses to go to the doctor "because it costs too much!" but she and her husband just bought TWO new cars. She also has car payments for two or three other cars for her kids, two of whom are in college. The whole family just got back from a week long resort vacation in Aruba. This coworker's husband just signed up for Slim4Life (weight loss program with a bunch of expensive supplements/snacks and hidden costs) and told one kid that if he lost 15lbs he'd take her to Aruba again. Coworker told her other kid that if her dad lost the weight, the two of them could go to Aruba too. Also for this diet he has to eat 3lbs of beef a day for three days, so add a bunch of steak and hamburger costs to that as well.
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Jul 23, 2014 03:39
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Thesaurus posted:The secret that THEY don't want you to know (and loan officers hate!) is that if you just make a few of the right phone calls explaining that the debt isn't really working out for you--while continuing to NEVER pay your loans--the banks will just shrug and let it go.
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Jul 23, 2014 04:21
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Yond Cassius posted:Have either of you considered making a will like Charles Vance Millar's and making the world a sillier place upon your departure? I know I have some eccentric bequests written into mine, just in case I should die with more money than I need to fulfill my posthumous obligations. I've heard of that guy's will before but as much as I would like to actually prank some people and just cause some minor mayhem in this world, I'm just not going to be that rich in all probability to have that kind of impact and I'm just not that good at jokes either. FrozenVent posted:Heads up, there's a thread in A/T about driving for Uber / Lyft and there's some strange thinking about buying Lexuses as an investment in there.
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Jul 23, 2014 04:26
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necrobobsledder posted:
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Jul 23, 2014 05:39
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necrobobsledder posted:A good while ago, I told some friends I would like to die in a totally hilarious way that makes headline news but for good reasons. I'd take my entire retirement savings in cash, jump out of an airplane, and proceed to throw it out in the air as I plummet to the ground at terminal velocity. Out of respect for others, I'd have hired someone to clear the area with absolutely zero knowledge of my intent to absolve him of any potential liability. But my friends agreed that it's probably the most appropriate, representative way for me to die. Didn't read that thread, but if that's what people are suggesting there is a fundamental misunderstanding of how the Internal Revenue code handles fixed assets.
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Jul 23, 2014 12:14
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Found the post:MeatMechanic posted:Totally legal in Dallas from day one. One rich rear end in a top hat owns most the cab companies in town, and Dallas is corrupt as poo poo. Rich rear end in a top hat had the police on the payroll and sicced them on us. Uber found out and got litigious, and the situation now is that the cops have figured out that we are on their side. Got an email from the company over the 4th describing how in Seattle drunk driving arrests are down 10% since Uber started there and how MADD is now partnering with and promoting Uber. I get a smile and a wave from most cops that realize what I'm up to now and I'm real nice to them, too. Haven't fact checked this, so grain of salt, but I've heard that Dallas has the highest DUI rate in the country, and the the highest collective BAC of persons arrested. So, not only the most drunk drivers, but the drunkest drunk drivers. Don't feel bad about any kind of "gypsy cab" talk, Uber saves lives. Buy a Lexus with $200 down yeah that's a good idea. e: Though to be fair most of the thread is telling him he's an idiot. Renegret fucked around with this message at 12:39 on Jul 23, 2014 |
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Jul 23, 2014 12:26
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Goddamn he sounds like an MLM drone. Except with Uber. And 200 dollar down luxury cars.
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Jul 23, 2014 12:46
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Inudeku posted:Goddamn he sounds like an MLM drone. Except with Uber. And 200 dollar down luxury cars. He also mentions that if you're "on the clock" but don't have a passenger in your car, uber only offers 25k liability coverage (1 mil if there's a passenger in it). His own personal insurance is 15k but that won't cover anything happening while on the clock. That seems like a ticking time bomb to me.
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Jul 23, 2014 13:04
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I live in Québec, where we have no-fault insurance, socialized healthcare, free ambulance rides after a car crash, and just not a litigious society. I carry something like a motherfucking million in liability, and I think that's the minimum my provider offers. I couldn't imagine driving in the states with just 25k of coverage. That wouldn't be enough for even the smallest of accident with body injury, wouldn't it?
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Jul 23, 2014 13:09
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http://www.reddit.com/r/personalfinance/comments/2bham3/friend_borrowed_40k_and_left_what_do_i_do/quote:this all happened about 6 months ago. long story short, I had a friend borrow $20,000 from my brother due to issues while travelling overseas. come back to Canada where we live, my friend gives my brother a check to pay for everything he borrowed while overseas and I move in with the friend. more issues come up, and I end up lending him another $10,000 for random living expenses seeing as how he had no issues paying back my brother. well, I wasn't expecting to lend him another 10k but it just ended up happening. Help I lent a "friend" 30K and he ran off with the money. Also someone who don't understand credit cards: http://www.reddit.com/r/personalfinance/comments/2bhkbm/new_credit_card_user/ "I didn't pay my bill yet why can't I keep spending money" I'd be ashamed as the parent of this guy. Renegret fucked around with this message at 13:36 on Jul 23, 2014 |
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Jul 23, 2014 13:33
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Renegret posted:
Wait, this guy thinks his credit limit renews on a monthly basis? Also - I just read this entire thread over the course of about two weeks and now i'm finished I have nothing to do at work.
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Jul 23, 2014 13:44
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http://www.reddit.com/r/personalfinance/comments/2bh183/i_need_advice_asap/ "I have no job but I live at home and my family gives me free money ($550/month) yet somehow I'm still in debt." What the gently caress my parents never gave me more than $5/week of spending money when I was a kid, if I was lucky. It's not that they didn't love me or take care of me, they just told me I had to learn how to not squander my Christmas/Birthday gift money on my wants, and they paid for anything I needed. My parents at a young age taught me how to plan ahead with my own money and it's the single most important financial lesson they taught me.
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Jul 23, 2014 14:19
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Renegret posted:http://www.reddit.com/r/personalfinance/comments/2bhkbm/new_credit_card_user/ I mean to give the person a little benefit of the doubt (yeah I have no idea why I'm doing this) when asked if they paid their statement balance in full they replied nope it's not due til August. So even though they managed to start using a credit card without grasping how they work, mayyyyybe they do at least grasp how to avoid paying interest and why they should. Maybe. Probably not.
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Jul 23, 2014 14:31
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Col.Kiwi posted:Hahahah I gotta go to reddit more. My mouth fell open a bit when I read that. Truly wonderful. Yeah, to be fair we don't know his financial situation. It might be no problem for him to pay it off, and a card with a $300 is clearly baby's first credit card. He just doesn't understand how it works. Which is kind of a problem anyway. Which is why I blame his parents. My parents taught me how to use a credit card before I signed up for one.
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Jul 23, 2014 14:40
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Renegret posted:http://www.reddit.com/r/personalfinance/comments/2bh183/i_need_advice_asap/ Ahahaha later on he talks about why he's not working, he doesn't know "if i should take a guaranteed job and risk losing it, or look for job's elsewhere and risk not getting hired." His excuse for not working is literally that he might not get/keep a job.
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Jul 23, 2014 14:41
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Not a Children posted:Ahahaha later on he talks about why he's not working, he doesn't know "if i should take a guaranteed job and risk losing it, or look for job's elsewhere and risk not getting hired." His excuse for not working is literally that he might not get/keep a job. Yeah I just got a good laugh reading more of this one. He pays $25/month into his maxed out credit card, then spends the rest of it on useless poo poo. He doesn't even go to school either.
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Jul 23, 2014 14:44
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Good god he even asked "I guess one final question would be, once i get the CC paid off, how much should i be spending on it each month?" I was pleased to see two people already were quick to tell him the answer is ZERO as you have no job your only income is handouts and your only essential expense is debt service. But I mean drat. What a question. God I love this thread and these sorts of posts for making me feel better about my own finances. I make my own share of lovely decisions but drat.
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Jul 23, 2014 14:56
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Renegret posted:http://www.reddit.com/r/personalfinance/comments/2bham3/friend_borrowed_40k_and_left_what_do_i_do/ I'm always a bit surprised how people manage to have 10k sitting around to give out interest free loans to "friends" and yet don't have a lick of sense. It's hardly some princely sum but you probably have some amount of financial discipline to amass that much cash, at least to the point of "hmm, maybe I should think a bit more about giving all my money to this sketchball."
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Jul 23, 2014 15:01
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Did he at least get anything in writing? Or did he just float the guy 20k on a good word and a wink?
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Jul 23, 2014 15:03
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My impression is that the money came in bits and pieces, like the guy hitting them up for food/rent/fun money and promising to pay it back. I can't fathom why someone would sink multiple thousands of dollars into someone like that unless there was something shady going on. Maybe this dude was their drug dealer or something.
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Jul 23, 2014 15:05
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Barry posted:I'm always a bit surprised how people manage to have 10k sitting around to give out interest free loans to "friends" and yet don't have a lick of sense. It's hardly some princely sum but you probably have some amount of financial discipline to amass that much cash, at least to the point of "hmm, maybe I should think a bit more about giving all my money to this sketchball." Rich kids. I know a girl who gets 10,000 dollars from her parents every Christmas and is also getting them to put 50% toward the down payment on a new home. Also, in bad with money, but also maybe bad with the law: http://www.businessinsider.com/airbnb-host-cant-get-squatter-to-leave-2014-7#ixzz38GSzSXl9 Girl puts her apartment on airbnb, guy wants to stay for 45 days, he complains on day one (about cloudy tapwater) and she gives him a full refund but lets him stay the full 45 days  .Of course, now he's legally a tenant because she let him stay so long and he ain't leaving. pathetic little tramp fucked around with this message at 21:31 on Jul 23, 2014 |
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Jul 23, 2014 21:21
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And people wonder why a number of states are making things like AirBnB illegal. If something like this happens there's pretty much nothing you can do.
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Jul 23, 2014 22:19
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pathetic little tramp posted:Rich kids. I know a girl who gets 10,000 dollars from her parents every Christmas and is also getting them to put 50% toward the down payment on a new home. Whoaaaaa. She couldn't afford to buy in the Bay Area, so she decided to buy a condo in Palm Springs to rent out as a vacation rental for supplementary income?  I know a guy who works in the hotel business who very often had to send the sheriffs to kick out a group of hillbillies on day 29 of their hotel stay to avoid that exact scenario.
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Jul 23, 2014 22:21
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pathetic little tramp posted:Rich kids. I know a girl who gets 10,000 dollars from her parents every Christmas and is also getting them to put 50% toward the down payment on a new home. First kickstarter: https://www.kickstarter.com/projects/829559023/confederate-express Second kickstarter: https://www.kickstarter.com/projects/kilobite/knuckle-club
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Jul 23, 2014 22:31
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All of these new "social" e-commerce companies make it so easy for scammers and opportunists to separate idiots from their money.
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Jul 23, 2014 23:02
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laxbro posted:All of these new "social" e-commerce companies make it so easy for scammers and opportunists to separate idiots from their money. Stop being so anti business with your regulations and poo poo man. We're trying to disrupt here. Disruption.
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Jul 23, 2014 23:17
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Lowness 72 posted:Stop being so anti business with your regulations and poo poo man. We're trying to disrupt here. Disruption.
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Jul 23, 2014 23:23
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Yaos posted:This reminds me, I'm setting up a new Internet business where my cat is your financial advisor. Right now she has me invested heavily in tuna and catnip. She also valued my company at 10 jillion dollars. Ooh poo poo, when is your IPO? I want to buy shares!
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Jul 23, 2014 23:49
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Nail Rat posted:And people wonder why a number of states are making things like AirBnB illegal. If something like this happens there's pretty much nothing you can do. Here in Australia I believe it's reasonably easy to kick somebody out of your house, providing it's a house you're now planning on using as your own personal residence. A family acquaintance found squatters in his home after an extended work trip and had to go to the courts. To get them out he had to prove that the squatters were depriving him of a place to live. So long as you can prove that you're now homeless because they're living in your house, you're golden. That said, I have very little sympathy for landlords because housing here in Australia is completed hosed and every dickhead with delusions of grandeur wants to have an investment property. Supply is limited to those happy few who are making well above the median or if you live with your parents until you're well into your twenties, the property market is perpetually hotting up due to a nasty case of NIMBY towards density (seriously, the Perth metropolitan area in Western Australia is about the same size as New York City with about one tenth of the density) and successive federal governments refusing to limit or revoke negative gearing. Let's talk about how the Australian government is really loving terrible with money with the biggest rort around: Negative Gearing. What is Negative Gearing? Basically it's a way for rich fuckers to offset their income. Positive gearing is where the money you're getting exceeds the amount it's costing you. So if you have a house that costs you $500 a month in mortgage and you rent it out at $700, that's a positively geared property. Negative gearing is where the money you're taking in is less than your costs. So if you have a house that costs you $500 per month in mortgage and you rent it out for $300, you're making a loss of $200 per month. This sounds bad because you're losing money, right? This is where the Australian government policy allows the aforementioned rich fuckers to dodge tax. I had an explanation written out, but the internet can explain it better: http://finance.ninemsn.com.au/pfproperty/investing/8123730/negative-gearing-explained posted:Here is how negative gearing works: Basically people deliberately lose money on their property in the hopes the property value will increase and they will get rich when they finally sell. They are almost actively encouraged to do this by the Australian government because the government is giving them a small tax dodge in the process. Why Negative Gearing is hosed
tl;dr The Australian government has created an environment that encourages speculative investment which could topple our entire economy, which I think is pretty bad with money considering they're forgoing a bit of pain and political unpopularity now in exchange for unknown amounts of economic pain later.
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Jul 24, 2014 01:00
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froglet posted:What is Negative Gearing? You absolutely cannot say you are losing money from this analysis. This is hosed and I see so may laypeople (mostly lay-homeowners) thinking this way. This is a CASH FLOW issue, not a net worth issue. Whatever your mortgage repayment terms are is unrelated to whether your asset is appreciating or depreciating. You could be taking in $100/mo less rent than your mortgage payment and have the property appreciate by $100,000. You also could be taking in $1000/mo rent on a $500 mortgage and losing your shirt in equity. Being unable to distinguish cash flow from equity is being bad with money.
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Jul 24, 2014 01:13
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Mantle posted:You absolutely cannot say you are losing money from this analysis. This is hosed and I see so may laypeople (mostly lay-homeowners) thinking this way. This is a CASH FLOW issue, not a net worth issue. Whatever your mortgage repayment terms are is unrelated to whether your asset is appreciating or depreciating. You didn't read the rest of his post, did you?
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Jul 24, 2014 01:34
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Mantle posted:You could be taking in $100/mo less rent than your mortgage payment and have the property appreciate by $100,000. Both of these things are highly speculative. The value of the house shouldn't be a motivating factor because the gains or losses are only realised when the property is sold. The bad with money bit isn't necessarily taking in less money than the mortgage costs because some money is better than none, it's the fact that the government has made speculating on property an attractive prospect for the wealthy.
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Jul 24, 2014 01:34
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In the United States, mortgage interest paid is deductible if you reach a certain tax threshold. This also includes second homes, iirc. I don't see how that is different from what is done in Australia, other than the whole negative net cash flow thing that I don't really understand.
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Jul 24, 2014 01:43
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Wickerman posted:In the United States, mortgage interest paid is deductible if you reach a certain tax threshold. This also includes second homes, iirc. I don't see how that is different from what is done in Australia, other than the whole negative net cash flow thing that I don't really understand. What prevents what is happening in Australia from happening in the US, your RE business expenses are only deductible to the extent of your RE revenue once you exceed an income threshold (I feel like this is 150 MFJ, but don't hold me to that) . The only way around this is to qualify as a full time RE professional, you have to spend the majority of your time engaging in RE business and some other details that will warrant a non phone post if anyone is interested.
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Jul 24, 2014 02:14
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Col.Kiwi posted:Good god he even asked "I guess one final question would be, once i get the CC paid off, how much should i be spending on it each month?" Not only that, but he even says in the OP that his family can't help him out because they're struggling to repay medical debts. AND THEN HE TAKES THEIR MONEY AND SPENDS IT ON GOOGLE PLAY AND MAGAZINES.
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Jul 24, 2014 04:41
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froglet posted:Both of these things are highly speculative. The value of the house shouldn't be a motivating factor because the gains or losses are only realised when the property is sold. You mean like low / no dividend shares?
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Jul 24, 2014 05:57
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