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Derails megathread.... Let's keep wedding chat to the wedding thread(s)!! http://www.reddit.com/r/personalfinance/comments/2gqg38/my_mothers_debt_collectors_emptied_my_bank_account/ quote:I opened a joint account with my mother when I started college. This account held money I received via direct deposits from my employers and money I received from my taxes. My mother had no input in the money in the account -all she did was spend money when she was low on cash. I earned the money in the account - it was mine not my mothers can I get it back somehow? If so what should I do? - Any help or information would be greatly appreciated!!!
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Sep 18, 2014 20:57
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SiGmA_X posted:TLDR: don't have joint accounts Fixed.
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Sep 19, 2014 00:06
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FrozenVent posted:TLDR: don't have joint accounts But then where am I supposed to store my  budget??E: Yeah, my bitcoin joint account!! 
BallerBallerDillz fucked around with this message at 01:10 on Sep 19, 2014 |
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Sep 19, 2014 01:00
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The Nards Pan posted:But then where am I supposed to store my Don't you use bitcoin for that?
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Sep 19, 2014 01:06
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I did the $100 courthouse ceremony followed by a nice fancy reception a year later. Makes the wedding cheaper and more fun! I'd heartily recommend itmoana posted:a $1k photographer(!). We spent over $2k on the photographer, making it about 1/4th of the total cost. Totally worth it.
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Sep 19, 2014 02:00
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Zhentar posted:I did the $100 courthouse ceremony followed by a nice fancy reception a year later. Makes the wedding cheaper and more fun! I'd heartily recommend it THIS IS THE "GOONS WON'T SHUT THE gently caress UP ABOUT THEIR FRUGALITY" THREAD
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Sep 19, 2014 02:08
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CountOfNowhere posted:THIS IS THE "GOONS WON'T SHUT THE gently caress UP ABOUT THEIR FRUGALITY" THREAD That is also a part of being bad with money. Don't end up like some of my family that can't part with money for quality enjoyment of life even when retired.
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Sep 19, 2014 02:39
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Needs more stories about weddings on credit cards and/or taking out multiple mortgages. Preferably at subprime teaser balloon rates.
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Sep 19, 2014 02:41
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Someone quote that goon who wanted to daisy chain HELOC to become a condo slum lord.
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Sep 19, 2014 02:55
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Does anybody know the name of the semi-high-profile financial adviser who bragged about he was going to quit his job and be financially independent on like $350K in the DC suburbs with a wife and child?
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Sep 19, 2014 03:27
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That would be Rob Bennett. http://www.retireearlyhomepage.com/rob_failure.html
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Sep 19, 2014 03:30
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FrozenVent posted:Someone quote that goon who wanted to daisy chain HELOC to become a condo slum lord. yes sir Zero VGS posted:I've got a weird one, I'm in my early 30's and have no debt, and I own two paid-off apartments worth $100k each. I live in one and rent the other. and later Zero VGS posted:My emergency funds are my HELOCs, they're zeroed out right now but I can write checks off them so that's something nice.
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Sep 19, 2014 03:53
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My friend is doing a destination wedding in Italy in a month: He is a reasonably high earner and lives in St. Thomas so he pays almost no taxes. As far as I can tell none of his friends are going because nobody can afford to go to Italy for a 5 day wedding. All of his wife's friends are going because they are all high earners and also don't mind dropping a few G's for an event like this. I think the recommended hotel is a grand a night or something, I don't know I didn't bother to add it all up. I think they are pre-partying and honeymooning in Italy for a few weeks before and after, and only staying in the ritziest places and renting luxury sports cars throughout. I really wouldn't be surprised if they end up spending 100k+ for the whole affair. Top notch videographer imported from London, a fluent Italian wedding planner, the best everything, it just goes on and on. Before he met the fiancee last year he just played Dwarf Fortress and drank beer, now he jets around to Europe and South America. The only options I can see are they live happily ever after or it crashes and burns spectacularly.
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Sep 19, 2014 04:40
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AbsenceVsThinAir posted:He is a reasonably high earner and lives in St. Thomas so he pays almost no taxes. As far as I can tell none of his friends are going because nobody can afford to go to Italy for a 5 day wedding. All of his wife's friends are going because they are all high earners and also don't mind dropping a few G's for an event like this. I think the recommended hotel is a grand a night or something, I don't know I didn't bother to add it all up. I think they are pre-partying and honeymooning in Italy for a few weeks before and after, and only staying in the ritziest places and renting luxury sports cars throughout. I really wouldn't be surprised if they end up spending 100k+ for the whole affair. Top notch videographer imported from London, a fluent Italian wedding planner, the best everything, it just goes on and on. Sounds awesome if they really are high earners to the point that a few G's are nothing to them. People able to spend $20k/month and still save half their income definitely exist.
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Sep 19, 2014 05:00
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baquerd posted:Sounds awesome if they really are high earners to the point that a few G's are nothing to them. People able to spend $20k/month and still save half their income definitely exist. She spends all her income, and has basically said that he has to be the saver. He was on his way to retiring at 40, but I am getting the impression that his burn rate is starting to push things into the negative. His plan is to show her YNAB and that will help her stop overspending. I don't understand exactly how that would work since he doesn't actually track any transactions with it, he just spent some time setting up a budget with it a few months ago and was satisfied with that. I'm not convinced that she won't start spending both their incomes; she has picked out a 1.5mil house on the island, wants a boat, private schooling and a nanny when they have kids. He has also never told her no when she wants something. Except a grill, but it wasn't so much "no" as "not until next month" and she still gave him a hard time. He's a good guy and he's definitely having a great time right now, but if he experiences any sort of financial hiccup I think it could really damage their relationship.
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Sep 19, 2014 05:16
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AbsenceVsThinAir posted:I'm not convinced that she won't start spending both their incomes; she has picked out a 1.5mil house on the island, wants a boat, private schooling and a nanny when they have kids. He has also never told her no when she wants something. Except a grill, but it wasn't so much "no" as "not until next month" and she still gave him a hard time. Ah crap, that really sucks. Hope they have great sex I guess.
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Sep 19, 2014 05:39
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Saddest thing is high earners who after thirty years of work have nothing to show for it.
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Sep 19, 2014 05:47
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Lokar posted:That would be Rob Bennett. Haha thanks. What an idiot. e: those two poll questions are delightfully snarky pig slut lisa fucked around with this message at 06:53 on Sep 19, 2014 |
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Sep 19, 2014 06:50
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AbsenceVsThinAir posted:My friend is doing a destination wedding in Italy in a month: AbsenceVsThinAir posted:She spends all her income, and has basically said that he has to be the saver. He was on his way to retiring at 40, but I am getting the impression that his burn rate is starting to push things into the negative. His plan is to show her YNAB and that will help her stop overspending. I don't understand exactly how that would work since he doesn't actually track any transactions with it, he just spent some time setting up a budget with it a few months ago and was satisfied with that. He is probably hosed in the long term -- can't have an income *that* high and pay no taxes while living abroad: foreign earned income exception for someone filing singly is only like $91k/year. If you already pay higher foreign taxes on your income than you would in the US you can also apply for an exemption based on that, but if you're living in a Caribbean tax shelter, welp.
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Sep 19, 2014 11:28
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Pompous Rhombus posted:He is probably hosed in the long term -- can't have an income *that* high and pay no taxes while living abroad: foreign earned income exception for someone filing singly is only like $91k/year. If you already pay higher foreign taxes on your income than you would in the US you can also apply for an exemption based on that, but if you're living in a Caribbean tax shelter, welp. He's in the Virgin Islands, his whole company moved there for tax purposes. Would that really qualify as foreign? He claims as long as he stays there for four years it's legit.
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Sep 19, 2014 12:51
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AbsenceVsThinAir posted:He's in the Virgin Islands, his whole company moved there for tax purposes. Would that really qualify as foreign? He claims as long as he stays there for four years it's legit. Is he in the US Virgin Islands or the British Virgin Islands? If he's in the US, he's still paying federal taxes, though there may not be as much in terms of local taxes as some places on the mainland. If he's on the British Virgin Islands, he still needs to pay US taxes on his income above the exemption amount as long as he's a US citizen.
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Sep 19, 2014 13:08
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AbsenceVsThinAir posted:He's in the Virgin Islands, his whole company moved there for tax purposes. Would that really qualify as foreign? He claims as long as he stays there for four years it's legit. Assuming it's the British Virgin Islands (US Virgin Islands still have to pay federal income tax, a quick Google search tells me), I don't see why he would think he's exempt from filing tax returns. All Americans abroad have to file, even if you don't owe anything. Like I said, if he's under 91k he fills out a 2555EZ and he's exempt, if he makes over 91k and pays more in local taxes he can apply what he paid to the BVI government against what he'd owe the IRS, and be exempt that way. Companies move to places in the Caribbean for tax purposes all the time… my grasp of this is rudimentary, but from what I understand they disincorporate in the US so they are not liable for corporate income taxes here, and reincorporate somewhere with marginal tax rates, while continuing to employ American workers (who are very much still liable for their federal income taxes). The individual equivalent of this would renouncing your citizenship, although Uncle Sam takes a very dim view of doing this for tax evasion purposes, and you have to be careful about how you do it (not to mention need another citizenship to fall back on, although I know at least one of the Caribbean countries outright sells citizenship).
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Sep 19, 2014 13:19
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Bob Mundon posted:Needs more stories about weddings on credit cards and/or taking out multiple mortgages. Preferably at subprime teaser balloon rates. Just heard this from my friend. His only daughter wanted a destination in Maine, in a coastal resort town, in peak season. OK, he makes good money, owns his own business, whatever. Turns out his sales were in a financial downturn by the time of the wedding and ran out of options. He told me he borrowed money off a "loan shark" to get him over the hump. Paid about 130% of the loan back before he told the guy he wasn't going to pay back any more. Not sure what the original agreement was but my friend was talking like he was still in it for a lot more. So not only is the friend bad with money for paying high interest on the loan but the lender was bad with money because he let my friend off the hook for the balance.
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Sep 19, 2014 13:21
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Pompous Rhombus posted:Assuming it's the British Virgin Islands (US Virgin Islands still have to pay federal income tax, a quick Google search tells me), I don't see why he would think he's exempt from filing tax returns. All Americans abroad have to file, even if you don't owe anything. Like I said, if he's under 91k he fills out a 2555EZ and he's exempt, if he makes over 91k and pays more in local taxes he can apply what he paid to the BVI government against what he'd owe the IRS, and be exempt that way. He hasn't claimed he's exempt from filing, just that his taxes are somehow very low as long as he lives there full time for at least four years. If he leaves before the four years are up he says he has to pay back taxes. It's St. Thomas so I think that's a U.S. VI. He's working for a financial trading company so maybe there is some other loophole involved, but I always just took his word for it as far as taxes go. The four years thing made me assume that it had to be legit because why would you put arbitrary restrictions on your fantasy tax world?
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Sep 19, 2014 13:36
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AbsenceVsThinAir posted:The four years thing made me assume that it had to be legit because why would you put arbitrary restrictions on your fantasy tax world? Maybe in 4 years the price of gold will allow him to pay his back taxes and more?
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Sep 19, 2014 14:36
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I was lucky enough to be born to a pair of raging narcissists who divorced, then married a another pair of raging narcissists. They all viewed my wedding as their own status symbol for their friends. I long as I paid them lip service and assigned them control to non-essential duties, they insisted they pay for the whole thing. How can any of you be financially independent without manipulating the weaknesses of others?!
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Sep 19, 2014 18:36
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I like this thread. I had a former roommate that asked me to move out so her also-financially-screwed mother could move in. After months of her being late on her share of the rent, I was pleased to have a way out. I was tired of checking the mailbox and finding another free drink card from Starbucks after she had stiffed me on hydro and water for another consecutive month. Our landlord was kind, but wise to her poo poo. She was frequently having disputes with him over the phone over the most trivial garbage. He unfortunately ran into her mother the day after we moved in and she was similarly rude to the poor old guy. He would only agree to the arrangement if I co signed their lease agreement. I politely refused and she lost it. Shouting at me over the phone, etc. Our landlord let us out of the lease because he was completely burned-out trying to deal with her. To this day, she owes me $90 on the last utility bill. My landlord sent me a Christmas card with a 100 dollar bill in it. Thanks old man.
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Sep 19, 2014 19:24
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I have two cars, I earn about $35K USD a year , I have 50K in interest free student loans and I don't have much savings. I think I'm verging on becoming a 'bad with money' story but resolving it is looking like it's going to be pretty easy so it's not catastrophic.
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Sep 19, 2014 20:23
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My $79k of student loans from my masters of social work is coming due  I guess I didn't get into this career for the money.I work full time for the government and still have a side gig with a women's shelter. God bless public child welfare and its "generous" salaries.
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Sep 19, 2014 22:52
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IT'S OVER, WE HAVE THE WINNER!! THANKS MOM!  I'M SO HAPPY / MIND = BLOWN / ETERNAL WIN 100%SEQUENCE ENGAGE Today mom told me that she lent some guy €20.000 two years ago. That's most of her savings from selling the family house. ENGINE POWER UP She's retired and her pension is €500. It barely covers her needs. PRO LEVEL UNLOCKED There is no deadline and no interest, he can keep the money until it suits him to return it. ELITE STATUS There is no contract, no receipt, no collateral. GOD TIER He doesn't even know that he owes her money! She gave money to her friend, who gave money to the debtor's friend. The debtor's friend had been broke and under threat of being evicted. With this financial injection he was able to pass the money to the debtor. BONUS She considers that money to be in "the safest place possible" because the debtor is a "visionary" who reconstructs old ships and teaches children, and is a member of my mom's new age circle. ENDING CREDITS She wrote down a list of all her debtors so if she dies or something I can simply collect all that money. 
Doctor Malaver fucked around with this message at 23:39 on Sep 19, 2014 |
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Sep 19, 2014 23:19
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Maybe you should just go get your genome done now, so that if a bad-with-money gene is discovered you can check yourself for it immediately.
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Sep 19, 2014 23:23
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VideoTapir posted:Maybe you should just go get your genome done now, so that if a bad-with-money gene is discovered you can check yourself for it immediately. My dad is bad with money too! Not in the same manner though. He's not a borrower but he passed some major opportunities in life - to own another home or to have a bigger pension, basically for free - just because he couldn't be bothered at the time. At least he now admits his mistakes. So with their genes I'm surprised I'm not buying expensive wine so that I could flush it down the toilet and sell the bottle for its value as ground glass.
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Sep 19, 2014 23:38
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I started an MBA program a month ago. My employer is paying for it, and that means my undergrad loans are deferred! And, they're subsidized, so no interest will accrue and I'll pick up at the exact same balance when I go into repayment in two years. However, stupid Fed Loan Servicing won't use the online system for checking enrollment and insist that I get a physical paper signed by the school's financial aid office to confirm that I'm actually enrolled full time and go into deferment. I've made two $112 monthly payments on my loans since then, because I haven't found the time to go down and find someone in the Financial Aid office to sign it for me.
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Sep 20, 2014 01:40
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A coworker got married in Hawaii recently. He kept complaining (or bragging? I can't tell with him) about how much money they spent and how nice everything was. Two weeks later, I ask him what he has got planned for the weekend and he says he and his wife are holding a SECOND RECEPTION, this time here in LA for members of their extended family who couldn't make it to the first one because it was out in the middle of the Pacific. Of course, this crowd is even bigger (the bride has like seventeen cousins or something), which means spending another asston of money. The guy then turns to me and says, "fortunately though, we got the same photographer and she gave us a 20% discount this time." 
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Sep 20, 2014 05:43
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yeah gently caress that guy for getting a discount (?)
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Sep 20, 2014 06:04
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Magic Underwear posted:yeah gently caress that guy for getting a discount (?) He probably still paid $3000 for a photographer just for their SECOND RECEPTION.
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Sep 20, 2014 16:12
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One of our accountants is pretty constantly broke, but has just bumped it up a level. She's been talking nonstop for the past few weeks about all the shopping she's been doing and showing off all the new clothes she's been buying, and has been spending at least 3 nights a week at the bar. Also, two weeks ago, she booked a week-long vacation out of the country. When we got paid a few days ago she mentioned that this check has to go entirely to her rent (which is now late) and insurance (which has lapsed) leaving her $40 for gas and food money for the next two weeks, until we get paid again. Her vacation is about 3 weeks from now, so she'll only have one full paycheck before the vacation, and the one after the vacation will be half as much due to her missing a week of work in that pay period. She has no idea why she's currently broke, seems to think that her next paycheck will fix it entirely, and says she doesn't budget because "You only live once, you know?" Edit: She doesn't have a hotel booked yet for her vacation, just the flights and a few things to do while she's there. She is planning to book the hotel last minute using her next paycheck. miryei fucked around with this message at 20:32 on Sep 20, 2014 |
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Sep 20, 2014 20:29
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How do you have the same photographer if he was in Hawaii? Did he pay for the photographer to fly there?
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Sep 20, 2014 22:19
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Why do you even need a photographer for the reception, let alone the SECOND one? Goddamnit I want a backyard barbecue wedding someday
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Sep 20, 2014 22:22
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TLG James posted:Did he pay for the photographer to fly there? It's not that uncommon. While I'm sure Hawaii probably has a healthy market of local pros, a lot of people will fall in love with a particular photographer's style, and pay to fly them out for a destination wedding (or in to their local one). Some cheaper photogs (typically less experienced/well-off or who have a personal connection to the bride or groom) will shoot it at a discount because hey, free trip, but a seasoned pro would charge their normal rate, possibly even extra for the hassle of travel. Not your post but I think a lot of people think wedding photographers are overpriced without realising all the hidden costs: gear (typically thousands of dollars, also should have backups of everything), insurance on the gear, costs of running the business (website, promotion, maintaining a vehicle, hiring assistants as needed, etc), time spent in post-production (can exceed time spent shooting), paying for your own medical insurance/payroll taxes/etc because you're self employed, workshops and other ongoing professional development, student loans, not to mention having enough left over to make a living off of. Hobbyists who do it for beer/gear money and not as a main hustle can and do often undercut pros, and I think a lot of mediocre professional wedding photographers went under as the falling price of DSLR's made it a lot easier to get in to the market. Also, asking a good Friend With A Camera to do a proper job shooting your wedding is basically un-inviting them; they will be running around all day, exhausted, and not really able to enjoy it much. I would hire an acquaintance if I liked their work and thought they were up to it, but would never ask a friend who'd otherwise be coming to the wedding to do it. This has been a Dorkroom Derail, please return to your regularly scheduled schadenfreude. Pompous Rhombus fucked around with this message at 22:46 on Sep 20, 2014 |
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Sep 20, 2014 22:43
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