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I do believe that we have been taken for fools... Bravo.
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Sep 6, 2014 13:42
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Old Fart posted:Sure, or live in a group house. If you want your living dollar to go farther and want more money for travel and savings, then there are some great places to live. All these old 3-story houses and flats with far more actual living area than you can afford on your own. I lived in a place in Temescal that had an entire mother-in-law unit in the back that nobody else in the house wanted to use. Turned it into a lounge/mancave/gameroom, had a blast. My bedroom in the main house was kinda lovely, but I mostly just used it for sleeping because I had such flexibility to be able to go out and travel, and most of my at-home leisure time was spent in the yard or out in the party shack. Didn't have to worry about leaving pets home alone, either. I paid $550, all utilities (and internet) included. Right, I'm on board with you. I own a townhouse and I'm currently renting out my other two bedrooms. Right now my total cost of living in this place is about $700. That includes everything from mortgage to utilities to insurance. Hoping to rent out my first floor rec room for $650~ (private entrance, bathroom) once I do a small renovation to it. Living for $50 a month will be nice.
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Sep 6, 2014 13:43
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pathetic little tramp posted:So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok?
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Sep 6, 2014 15:27
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Cast_No_Shadow posted:An unscrupulous person might flee the country. Not suggesting you actually do this (don't) but hypothetically what recourse would thr bank have? Something remarkably similar to this has happened before. A couple who ran a service station in New Zealand discovered $8 million in their account and fled the country. I believe they have been apprehended, but just goes to show - this can and does happen, although most people are too sensible/honest to take the money and run.
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Sep 6, 2014 15:39
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I would do it
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Sep 6, 2014 15:51
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froglet posted:Something remarkably similar to this has happened before. A couple who ran a service station in New Zealand discovered $8 million in their account and fled the country. I believe they have been apprehended, but just goes to show - this can and does happen, although most people are too sensible/honest to take the money and run. This happened to a guy I worked with. Instead of returning $3200 to his account (his card was stolen and the charge was fraudulent) the bank returned $320,000. He called the bank and it was down to the right amount within a few hours, I'm surprised it took that long.
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Sep 6, 2014 15:59
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BioEnchanted posted:I do believe that we have been taken for fools... Bravo. It was such an unbelievably dumb thing I figured it needed something more than the usual quote and link. This thread has very little faith in me.
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Sep 6, 2014 16:09
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pathetic little tramp posted:It was such an unbelievably dumb thing I figured it needed something more than the usual quote and link. This thread has very little faith in me. You need to stop posting, shred all forms of ID, smash your cellphone, and buy a one way ticket to mexico.
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Sep 6, 2014 16:23
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froglet posted:Something remarkably similar to this has happened before. A couple who ran a service station in New Zealand discovered $8 million in their account and fled the country. I believe they have been apprehended, but just goes to show - this can and does happen, although most people are too sensible/honest to take the money and run. The wife got shafted and returned to NZ. Later the Chinese Police had tracked down the husband and he was sent back to NZ. They were both found guilty and had to give all the money back, which was an issue because some of the money had already been spent.
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Sep 6, 2014 23:31
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Devian666 posted:The wife got shafted and returned to NZ. Later the Chinese Police had tracked down the husband and he was sent back to NZ. They were both found guilty and had to give all the money back, which was an issue because some of the money had already been spent. Look, Mr. Samsonite, Harry and I have every intention of paying you back. SpelledBackwards fucked around with this message at 14:27 on Sep 7, 2014 |
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Sep 7, 2014 14:23
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Withdraw the cash and put it in your safety deposit box, then wait for the bank to ask for it back
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Sep 7, 2014 17:30
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Factor Mystic posted:Withdraw the cash and put it in your safety deposit box, then wait for the bank to ask for it back I wonder what laws apply to electronic transfers...
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Sep 7, 2014 18:57
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Jeffrey posted:I would consider it, though I'd rather do 40 hours a week for half the year. Work in the energy industry and you can pretty much do this, except replace the "half pay" with "bonus for working overseas/on an oil platfom/on the North Slope of Alaska". One of my Chem.E friends spent a few years working one month on/one month off in Kazakhstan where he got paid a bonus for the time he was out of the US, his company paid for his apartment while he was on site and he got every other month off.
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Sep 8, 2014 00:13
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Powerlurker posted:Work in the energy industry and you can pretty much do this, except replace the "half pay" with "bonus for working overseas/on an oil platfom/on the North Slope of Alaska". One of my Chem.E friends spent a few years working one month on/one month off in Kazakhstan where he got paid a bonus for the time he was out of the US, his company paid for his apartment while he was on site and he got every other month off. I've done something similar when I was working on cargo ships. Food, board and laundry while you're onboard (Quality of all three to vary wildly from lovely to very lovely), great money... But no vacation. You actually had to get laid off to get time off - any time off. Weekend, sick days, gently caress no. You got a minimum of eight hours "off" every day, but you weren't leaving the boat, except on the rare occasion you got time off in port, in which case you'd make a dash to Wal Mart and maybe a bar. So in theory I could have made $110 000 a year if I'd worked all that was available. I was pretty happy with 60 - 70k, and five to six months off. It's me, I'm bad with money. Back on topic, I'd like to nominate whoever buys this as the subject of this thread.
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Sep 8, 2014 01:35
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Good with money (?) : If you have a savings account under the same bank, put it in there, and hope they forget to take the interest back when they correct the error. Although a couple weeks interest on 760k isn't really much to get excited about these days.
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Sep 8, 2014 06:20
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Yeah I was doing the math on how much I'd need to put into a savings account with 1% interest to get 1,000 a month, it's a little over a million. Back in the 60s, that was an entirely different ballgame.
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Sep 8, 2014 17:26
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pathetic little tramp posted:Yeah I was doing the math on how much I'd need to put into a savings account with 1% interest to get 1,000 a month, it's a little over a million. Back in the 60s, that was an entirely different ballgame. That $1 mil was worth 6-8 times what it is now, depending on the part of the decade. Now you'd have to be worth at least $6.5 million to have that kind of buying power. Inflation is terrifying to think about sometimes, is what I'm saying
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Sep 8, 2014 19:24
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My dad and I were talking about this the other day, I was bitching about the ridiculous state of minimum wage and wage theft and inflation/stagnation of wages vs increased productivity of the American worker. He pointed out that when he started working, min wage was like $1.70 and hour. Six months into his first job he had saved enough to buy a new motorcycle. I can't even comprehend that.
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Sep 8, 2014 22:35
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MAKE NO BABBYS posted:My dad and I were talking about this the other day, I was bitching about the ridiculous state of minimum wage and wage theft and inflation/stagnation of wages vs increased productivity of the American worker. He pointed out that when he started working, min wage was like $1.70 and hour. Six months into his first job he had saved enough to buy a new motorcycle. I can't even comprehend that. It gets even more extreme when you talk the super-inflated cost of university tuition. http://www.theatlantic.com/education/archive/2014/04/the-myth-of-working-your-way-through-college/359735/ In 1979, you could pay for a credit hour of tuition with 8 1/2 hours of work at a minimum wage job. Today? You're working 60 hours at minimum wage to pay for a single credit hour. That's 48 hours/week while in school to pay for a full time (12 credit hour) workload. And you'd better be getting your room and board for free too, or else you're going to be working way more than 48 hours/week at your part time job.
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Sep 8, 2014 23:49
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quote:I purchased this gym for my son to help him with conditioning for high school baseball. It was used very lightly. It's great for home workouts and comes with the optional leg press. I paid nearly $6,000 for this gym when purchased. I'm asking $2,250 obo.
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Sep 8, 2014 23:53
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I'm disappointed there isn't a picture of the kid.
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Sep 9, 2014 01:29
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canyoneer posted:It gets even more extreme when you talk the super-inflated cost of university tuition. The cost of education is so expensive now. I've pointed out some free education resources to people recently with University of People (free courses but $100 per exam) which is limited to business administration and computer science. Along with edX which doesn't have any accreditation, only issues "certificates" but is free or minimal cost. The one thing I did like about he University of People courses is they only offer two that are likely to get people jobs, as opposed to other institutions.
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Sep 9, 2014 01:34
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http://investorplace.com/2013/09/report-average-american-in-debt-hundreds-of-thousands/#.VA8xovldVF0quote:Report: Average American Is $225,238 in Debt More here: http://www.gobankingrates.com/savings-account/average-american-profile-earnings-spending-saving-money-today/ Underemployed is always a lovely situation to be in. Though a car loan (and I say this with complete self-awareness) isn't exactly a necessity; especially at $31k.
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Sep 9, 2014 18:05
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I assume those are household numbers and that includes two cars, otherwise it's insane if that is the average.
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Sep 9, 2014 18:10
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Those numbers are a little sensationalized. The collateralize debt is a different character of debt than the other debts, because if you did it right then you can sell the collateral and pay off the debt. If you assume that the hypothetical person has 20% equity in both the house and the cars, then you're looking at a net worth of around -$15k for "households with debt." That's not great, but it's pretty far from the numbers they're spouting. Most people aren't "good with money" but they're also not usually stupid. The $500 emergency fund is the scarier statistic. It drags all of our wages down because so few of us can afford to leave a job.
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Sep 9, 2014 18:18
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Knyteguy posted:Average credit card debt among indebted households: $15,263 Jesus Christ, Americans are bad with money. I mean, I knew that already, but holy hell. However, this is is sneaky stat: quote:Average credit card debt among indebted households: $15,263 So that is definitely not the average across all Americans. And: quote:Average mortgage debt: $147,591 This in and of itself is not that alarming since it is relatively "safe" debt (but debt nonetheless). But if you compound with 30k in student loans, 30k in auto loans, 15k in credit card debt, and no savings greater than $500 then fuuuuuck. Guinness fucked around with this message at 18:23 on Sep 9, 2014 |
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Sep 9, 2014 18:20
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Yeah another thing in that article, they say hardly anyone has 500$ in a savings account. No poo poo. Savings accounts offer such pathetic interest at banks, I know I don't keep anything in mine. There's maybe $5.00 in it just to keep it open. Everyone I know keeps their emergency fund in their cheque book and their "saving" goes into something like a vanguard or their retirement accounts. I'd say that particular fact is less an indictment on savings habits and more an indictment on savings accounts.
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Sep 9, 2014 18:54
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pathetic little tramp posted:Yeah another thing in that article, they say hardly anyone has 500$ in a savings account. No poo poo. Savings accounts offer such pathetic interest at banks, I know I don't keep anything in mine. There's maybe $5.00 in it just to keep it open. Everyone I know keeps their emergency fund in their cheque book and their "saving" goes into something like a vanguard or their retirement accounts. Assuming you're trying to keep your savings/emergency money liquid aside from whatever you put into investments, why keep more than a month's turnover in a checking account at an even lower rate than a savings account would offer?
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Sep 9, 2014 19:15
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SpelledBackwards posted:Assuming you're trying to keep your savings/emergency money liquid aside from whatever you put into investments, why keep more than a month's turnover in a checking account at an even lower rate than a savings account would offer? I bill higher for the minutes it takes to move money between accounts than I make in interest on it.
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Sep 9, 2014 19:17
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Jeffrey posted:I bill higher for the minutes it takes to move money between accounts than I make in interest on it. A lot of people probably are thinking of the days when savings account were 2% interest, and checking was like 0.2% interest. Just checked BOA, and for Checking and Savings under $10,000, you're looking at 0.01%. Money Market over 100,000 you go all the way up to 0.15%. Jesus Christ.
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Sep 9, 2014 19:23
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Why anyone keeps any significant amount of money with a large retail bank is beyond me. I keep a couple thousand dollars in my credit union account for paychecks and monthly expenses etc. which earns a bit over 1% on small-ish balances, and then my liquid cash is with CapitalOne 360 that earns 0.75% presently. Sure, it's not a lot of interest but it earns a combined ~$15/month. Basically free money for 2 minutes of effort a month.
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Sep 9, 2014 19:28
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A lot of people probably intend to pull a SloMo and borrow or withdraw from their retirement if they hit a major crisis.
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Sep 9, 2014 19:31
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MrKatharsis posted:A lot of people probably intend to pull a SloMo and borrow or withdraw from their retirement if they hit a major crisis. "It's my money anyhow!" Oooh, I have something relevant here. Hopefully I haven't used it before: In my state, whoever owns the car in January 1 owes the whole registration tax amount for the year. My co-worker bought a brand new truck in December. He said he didn't have the relatively sizeable, like $2k-ish maybe, in any accessible form. So they borrowed from their kid's 529 plan. I think they managed to pay it back by the end of the year, though.
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Sep 9, 2014 19:49
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Jeffrey posted:I bill higher for the minutes it takes to move money between accounts than I make in interest on it. I know you're exaggerating for effect but that's not really true. I keep about 15-20k in cash for an emergency fund and specific savings goals. In my Ally account at 0.9% that gets me ~$150/yr. Better than letting it stagnate in checking and getting essentially nothing.
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Sep 9, 2014 20:13
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Folly posted:Those numbers are a little sensationalized. They aren't just sensationalized, they're bullshit. They've cherry picked "averages", choosing between median values and average values when it supports the picture they want to paint, and mash statistics together without context. "Mary"'s situation is bleak because her "average" income is actually 40th percentile, but she bears the debts of far higher earners. Mary the slightly below average American has a Net Worth around $40,000, with about $3,300 in credit card debt.
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Sep 9, 2014 21:15
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Barry posted:I know you're exaggerating for effect but that's not really true. I keep about 15-20k in cash for an emergency fund and specific savings goals. In my Ally account at 0.9% that gets me ~$150/yr. Better than letting it stagnate in checking and getting essentially nothing. More like I need a new bank... Last year I made $30, I think the year before that it was $9. Jeffrey of YOSPOS fucked around with this message at 21:22 on Sep 9, 2014 |
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Sep 9, 2014 21:17
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I wonder if we'll ever see decent savings interest rates agai-hahahahahahaha
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Sep 9, 2014 21:20
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HonorableTB posted:I wonder if we'll ever see decent savings interest rates agai-hahahahahahaha It's dependent upon inflation rates, not on banks loving people. High yield savings accounts, at best, keep up with inflation but more typically run just under inflation. Back in 2004-2005, inflation was 4-5% and so it was not hard to find a high yield savings account with a ~4% APY. While nominal returns have decreased, the real return on your money has stayed roughly the same (i.e., slightly negative accounting for inflation). Holding cash, even in a high yield savings account, will always lose out to inflation in the long term. US Inflation has been 1.5-2% for the past several years, plus we've been climbing out of a recession which introduced additional variability and uncertainty, so it's not surprising that high yield savings accounts plummeted to the 0.7-1.0% APY range. As inflation rises and the economy improves, rates will slowly go up. But if you're expecting Bank of America or Chase or Wells Fargo to ever offer you more than 0.1% APY on your checking/savings then you're a chump. Large retail banks never have and never will offer competitive interest rates on checking/savings. Guinness fucked around with this message at 21:37 on Sep 9, 2014 |
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Sep 9, 2014 21:35
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Guinness posted:But if you're expecting Bank of America or Chase or Wells Fargo to ever offer you more than 0.1% APY on your checking/savings then you're a chump. Large retail banks never have and never will offer competitive interest rates on checking/savings. What motivates Capital360 and all them to offer higher yields, then? My credit union's rates are similarly, laughably low in the BoA/Wells Fargo range (0.10-0.15% on checking, 0.10-0.25% on savings) even though in a lot of ways they're not like the big retail banks.
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Sep 9, 2014 21:38
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Trying to attract customers who are looking for an FDIC-insured place to store medium-large amounts of emergency funds? My bank is 0.65% checking, 0.7% savings. Adds up to some hundreds of $s per year for me. http://www.alliantcreditunion.org/services/rates/
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Sep 9, 2014 23:55
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