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paperchaseguy posted:oops, you're right, it was closer to the higher figure to start.
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Jul 30, 2014 20:46
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Let's hope I can keep my credit card in my pocket for one more day...
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Jul 30, 2014 21:23
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Well that sure is a graph with a line going downwards. So the midyear bonus payout stretched to paying credit cards and Lasik?
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Jul 30, 2014 21:43
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Yeah, along with a mildly frugal month on other spending.
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Jul 30, 2014 21:51
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What is the remaining debt? That's just the 401k loan, right?
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Jul 30, 2014 21:58
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Yeah, $12,734 at 4.0% interest paid to myself (although I am losing the interest it would make in the market at the same time). I'll have to keep living under my salary and billing in the 130-150 range to build up enough bonus to pay it off in December.
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Jul 30, 2014 22:14
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Slow Motion posted:Yeah, $12,734 at 4.0% interest paid to myself (although I am losing the interest it would make in the market at the same time). I'll have to keep living under my salary and billing in the 130-150 range to build up enough bonus to pay it off in December. That seems like its really doable. If you could be debt-free a year after your divorce, I'm sure that would feel really great.
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Jul 30, 2014 22:35
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Is your employer still putting a match into your 401k while you're paying off the loan? If so that at least somewhat takes the sting out of the situation.
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Jul 30, 2014 22:36
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mkay0 posted:That seems like its really doable. If you could be debt-free a year after your divorce, I'm sure that would feel really great. Hell yeah it would. Seeing zeros on all the CCs on Mint feels pretty great already. Nail Rat posted:Is your employer still putting a match into your 401k while you're paying off the loan? If so that at least somewhat takes the sting out of the situation. Yeah, they do. I still contribute about $500 a month on top of the loan payoff and my employer matches half of that.
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Jul 30, 2014 22:55
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Hopefully you won't celebrate become debt free by getting into a bunch of debt. You'll need to keep going in the direction you're going and build a savings.
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Jul 30, 2014 23:00
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Turns out you don't have to be that smart if you make a good amount of money.
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Jul 30, 2014 23:04
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three posted:Turns out you don't have to be that smart if you make a good amount of money. Making more money is a good thing to do and everyone should try and make more money.
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Jul 30, 2014 23:10
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Jeffrey posted:Making more money is a good thing to do and everyone should try and make more money. Poor? In debt? Try money!
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Jul 30, 2014 23:12
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Ainsley McTree posted:Poor? In debt? Try money! Typically you can make a bigger impact by making more money versus cutting, you can only cut so much in they end.
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Jul 30, 2014 23:19
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three posted:Turns out you don't have to be that smart if you make a good amount of money. I think that's what Slow Motion is trying to teach everyone but we're just unwilling to listen being haters and all.
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Jul 30, 2014 23:57
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Slow Motion how long have you been at your current job level? How long does the average person spend at your job level?
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Jul 31, 2014 00:32
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Ainsley McTree posted:Poor? In debt? Try money! Guys, to cure AIDS you just have to inject $180,000 into your bloodstream!
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Jul 31, 2014 04:41
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I thought you were renting at Harbor Steps 
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Jul 31, 2014 05:35
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spwrozek posted:Typically you can make a bigger impact by making more money versus cutting, you can only cut so much in they end. Perhaps, but cutting is completely within your control, whereas making more money is less so
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Jul 31, 2014 05:38
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Yeah, while technically true it's kind of a ridiculous way to go about it. Having a leprechaun give you a whole bunch of money would also be a quicker way to get out of debt over cutting costs, but that doesn't make it smart or realistic.
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Jul 31, 2014 13:24
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nikosoft posted:I thought you were renting at Harbor Steps I say we take off and nuke the entire site from orbit. It's the only way to be sure. PhantomOfTheCopier fucked around with this message at 13:53 on Jul 31, 2014 |
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Jul 31, 2014 13:51
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Slow Motion posted:Hell yeah it would. Seeing zeros on all the CCs on Mint feels pretty great already. Congrats dude I didn't think you had it in you. 
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Jul 31, 2014 14:08
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PhantomOfTheCopier posted:I was putting it around the Hawthorne Apartments because of the general relationship to the various buildings in that picture, but I haven't gone back and done a full triangulation with uncertainty analysis yet.
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Jul 31, 2014 16:17
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Slow Motion posted:Hell yeah it would. Seeing zeros on all the CCs on Mint feels pretty great already. So when you 0 out the 401k loan you're gonna come party in http://forums.somethingawful.com/showthread.php?threadid=3259986 right?
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Jul 31, 2014 16:24
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spwrozek posted:Typically you can make a bigger impact by making more money versus cutting, you can only cut so much in they end. well, if you are aiming to retire, cutting costs persists across retirement whereas making money by actively working at a job does not still, no one here is making enough money so you all should make more money, myself included
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Jul 31, 2014 17:11
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Some of you guys should give me money tia
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Jul 31, 2014 17:28
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Jeffrey posted:well, if you are aiming to retire, cutting costs persists across retirement whereas making money by actively working at a job does not Or a Walmart greeter
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Jul 31, 2014 19:08
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Good work slow motion. Good luck on this august challenge you have. Saving is the key for you now since you need to pile up the money to pay off that 401k loan.
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Aug 1, 2014 13:38
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If it's running around $13k right now and his payments are $258, it looks like it will be around for quite a while. At year end it will be around $11800, so he'll have to mirror the first half of the year to earn enough to pay it off at that time. He could actually budget an additional $250/mo, as he's no longer paying that towards credit cards, and save a bit more toward it to help get to that final payment at the end of the year. It will therefore be paid off only when he receives a bonus payment exceeding the balance (probably by at least 15%, and maybe not until June 2015), or the periodic payments have run to term. I'd expect to see it rolled into another loan, in fact, but they may not appear soon enough for it to happen. I should like to think it will have been closed before he takes out $500k for a condo.
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Aug 1, 2014 14:10
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Bugamol posted:Slow Motion how long have you been at your current job level? How long does the average person spend at your job level? Important question being ignored here.
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Aug 1, 2014 14:12
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PhantomOfTheCopier posted:He could actually budget  You had me right until there.
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Aug 1, 2014 15:42
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Hey I went a whole day without spending any money! My checking balance is lower than I would like it to be. But I just had to see them zeros.   The red bars above green on the earning vs. spending are a little troubling. My reasonable spending on non-LASIK items and my lack of regular LASIK purchasing makes me believe that it's not a trend. So now the game changes. My 401k loan payments are fixed monthly. I can payoff the loan early, but only with a lump sum. So now it's all about saving till I can falcon punch that loan.
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Aug 1, 2014 19:57
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grats on knocking out the cc debt, SloMo 
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Aug 1, 2014 20:06
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SloMo has been the best at knocking out debt, despite being the most criticized.
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Aug 1, 2014 20:08
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I'm thinking about how to play the rest of the year. Of the 12.7k I owe on the 401k loan 5.7k is "spoken for" by the after-tax deductions and the residual bonus accruals left to be paid out in December (assuming I don't bill under threshold). That leaves about 7k to be paid through a combination of normal salary and bonus earnings. I feel very comfortable committing at least $300 a month from salary to savings to build up to paying it off. That's $1,500 which takes the amount needed from additional bonus to $5,500; an average of billing 136 hours a month. I'll need to do better than that though as I'd like to shore up my checking account and get started on a liquid emergency fund.
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Aug 1, 2014 20:32
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Slomo has inspired me to move back to Seattle and be a baller too once I finish school. Well not really...
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Aug 1, 2014 20:36
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He re-inspires me to never fully trust so-called professionals. I mean, he's an actuary and look at the way he thinks about numbers.
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Aug 1, 2014 20:39
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Slow Motion posted:I'm thinking about how to play the rest of the year. Of the 12.7k I owe on the 401k loan 5.7k is "spoken for" by the after-tax deductions and the residual bonus accruals left to be paid out in December (assuming I don't bill under threshold). You did well in cutting non-LASIK expenses when LASIK blew your budget. LASIK blowing your budget for it is something I'm willing to say is largely out of your control because I doubt net costs are communicated about it very precisely or clearly a priori. What I want to call attention to was that excluding LASIK, which I think is one of the few times you've called something an outlier that it justifiably can actually be called such, is that you were able to come in $200 under your budget of largely discretionary items. Was your quality of life significantly worse in July? Could you repeat this feat in August? If you repeated it August to December, would that extra $1000 help you pay down your 401k? (those playing along at home, the answer key is no, yes, yes)
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Aug 1, 2014 20:52
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Dwight Eisenhower posted:
C'mon, spoilers dude!
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Aug 1, 2014 21:06
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three posted:SloMo has been the best at knocking out debt,
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Aug 1, 2014 22:35
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