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E. Missed the derail train! For content some young ~22 year old I work with was wigging out and wanted to liquidate his 401k when the markets turned down a few weeks ago because he lost 'about 50 bucks that week'. It was kinda cute :3 A couple of us explained how markets work and why now was the time to buy, hopefully he didn't sell! Guest2553 fucked around with this message at 21:02 on Jan 4, 2015 |
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Jan 4, 2015 20:25
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| # ? May 28, 2024 08:38 |
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My mom keeps cash around the house because apparently my dad is getting hella garnished for mystifyingly bad credit card decisions. At least it's in a hidden fireproof safe but  Cash at home is just the tip of the bad-with-money iceberg, obviously.
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Jan 4, 2015 20:37
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i like nice words
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ohgodwhat posted:I'm the kid who bought everything himself his entire life, without ever having a job. Yeah, who even writes something like that unironically?
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Jan 4, 2015 20:37
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Blackjack2000 posted:Yeah, who even writes something like that unironically?
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Jan 4, 2015 20:47
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Emptyquoting is bad with money. You wasted time in hitting buttons when you could have moved on with your life.
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Jan 4, 2015 20:51
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Anne Whateley posted:My mom keeps cash around the house because apparently my dad is getting hella garnished for mystifyingly bad credit card decisions. At least it's in a hidden fireproof safe but It really depends on the asking you keep, relative to your income, savings/investments, and spending habits. I keep around $1k in cash at the house (most of it in a safe) in case a big cash-only deal on a craigslist item or firearm I'd been wanting falls in my lap and I can't get enough from ATMs due to daily withdrawal limits to cover it all. But I will agree that it is a minor probability for that kind of risk. And just a way to enable me to spend more on things. That said, in the last two years I've sold off as many guns as I've bought and an trying to sell another, so I'm not in a crazy buying frenzy mode like I was several years ago. Still, it's nice to know I've got a little cash for emergencies in case my cards get stolen, the bank/POS/ATM networks are down, or whatever.
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Jan 4, 2015 21:32
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So today I went through my monthly subscriptions and got rid of several I wasn't even using - Chegg for $14.99 and Wolframalpha - $4.99. I've used both I think like 5 times each tops last semester yet I still paid those subscription fees for 4-5 months. Also my gym was charging me $24.99/mo but the cardio machines were all broken so I finally had enough of that poo poo (it's a bitch to do a 45 minute HIIT session on the treadmill when the machine stops working in the middle of your run at 33 minutes F^$%!) so I switched to a more mainstream one for $303 for 2 years. Wonderful. I'm keeping Spotify, though. I can't stand commercials and their software is awesome. Another kinda bad with money... I'm not necessarily proud of this one but basically I've always had lovely haircuts (from $5 shops) so last year I finally found this expensive place that gave me awesome haircuts - I loving love them. So I kept going back every 5-6 weeks. Here's the thing, though. They cost $45 each and I would tip anywhere from $5-15. That's a lot of money spent (but would it kill a barber at a cheap place to give me a cut that doesn't look like poo poo?). Tomorrow I'm going for another one but this time I figure I will take several pictures right after the cut and then just start going back to the $5 shop near my place every 3-4 weeks and hope they don't screw up since I will show them the pictures. This year I'm just trying to spend a lot less. Dangerous Mind fucked around with this message at 04:54 on Jan 5, 2015 |
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Jan 5, 2015 04:50
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Try harder. Paying $60 (that you have) for pure pleasure isn't bad with money.
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Jan 5, 2015 04:55
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Dangerous Mind posted:Another kinda bad with money... I'm not necessarily proud of this one but basically I've always had lovely haircuts (from $5 shops) so last year I finally found this expensive place that gave me awesome haircuts - I loving love them. So I kept going back every 5-6 weeks. Here's the thing, though. They cost $45 each and I would tip anywhere from $5-15. That's a lot of money spent (but would it kill a barber at a cheap place to give me a cut that doesn't look like poo poo?). Tomorrow I'm going for another one but this time I figure I will take several pictures right after the cut and then just start going back to the $5 shop near my place every 3-4 weeks and hope they don't screw up since I will show them the pictures. If it's the only place that doesn't make your hair look like garbage, $60 is fine. I'd pay that, even though my guy only charges $20. Then again, my hair is pretty easy.
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Jan 5, 2015 05:03
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Yea I guess so. Maybe slightly irresponsible is a better word/phrase. I'll get the cut tomorrow and then a month later get the $5 cut and see how it goes. I may even end up checking out other places as well. And since I don't go out all that often it really is just spare cash. Still, it's pricey enough that I would never tell my friends or family how much I pay...
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Jan 5, 2015 05:32
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Dangerous Mind posted:Yea I guess so. Maybe slightly irresponsible is a better word/phrase. I'll get the cut tomorrow and then a month later get the $5 cut and see how it goes. I may even end up checking out other places as well. And since I don't go out all that often it really is just spare cash. Still, it's pricey enough that I would never tell my friends or family how much I pay... Does the salon offer different tiers? I know nothing about fancy hair cuts, except the place my wife goes to has varying skill levels that you pay extra for. Her stylist, whose been there for 20 years, is the most expensive at around 60 + tip. A newer hair dresser might cost $40. I seriously doubt your $5 barber cuts lovely hair because they've never seen a photo of you with good hair. You're probably going to be stuck with a bowl cut or an expensive haircut, but maybe they have slightly less expensive haircuts at this new place.
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Jan 5, 2015 12:59
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I married a woman with a cosmetologist license. Free Haircuts for Life. You are all bad with money if you did not do this.
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Jan 5, 2015 19:08
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Im bald so I buzz my hair myself. Checkmate 
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Jan 5, 2015 19:21
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flyboi posted:Im bald so I buzz my hair myself. Checkmate Using electricity.
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Jan 5, 2015 19:27
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Spermy Smurf posted:Using electricity. Battery operated. Recharge it at work.
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Jan 5, 2015 19:32
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Rick Rickshaw posted:Battery operated. Recharge it at work. If you don't work at home, you're wasting time and money on a commute 
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Jan 5, 2015 19:34
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Nail Rat posted:If you don't work at home, you're wasting time and money on a commute I bike. Therefore my commute doubles as cheap exercise! You can't win.
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Jan 5, 2015 19:37
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Rick Rickshaw posted:I bike. Therefore my commute doubles as cheap exercise! I work at home and use a stationary bike attached to a generator for electricity so I don't ever have to see other people. Check and mate!
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Jan 5, 2015 20:54
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I am a being of pure energy.
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Jan 5, 2015 21:04
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CelestialScribe posted:I am a being of pure energy. username + post combo 
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Jan 5, 2015 21:11
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I just read this article that has been circulating the Internet. Long story short- an individual bought a $90,000 Tesla Model S. And like many Model S owners before him, he financed a large part of the purchase- a $70,000 bank loan. He got into a collision, and was billed $10,000 in parts and $20,000 in labor. And now he's surprised that his luxury supercar is expensive to fix and his insurance company is giving him pushback. I think the Model S is an amazing vehicle, and I really like Tesla as a company. But buying a mostly-financed Model S and thinking that it'll save you money is bad with money. detloc posted:I'm also amazed at people in their 30s with half a dozen super accounts, paying fees for each, with no idea what they are invested in. I check mine on a weekly basis and have a single account with lowest possible fees. Makes a big difference over 40 years. melon cat fucked around with this message at 00:20 on Jan 6, 2015 |
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Jan 5, 2015 23:46
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Stories about people bad with money - I'm a high school business teacher. I know what I'm doing
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Jan 6, 2015 00:05
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FCKGW posted:This guy isn't bad with money, in fact he's become financially independent at 24, but I feel like he's going to make some bad choices down the road. While that guy might genuinely be looking for some advice I feel like anyone that posts a "I'm 24 and make 65k a month" thread on the internet is just looking to brag.
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Jan 6, 2015 00:35
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Barry posted:While that guy might genuinely be looking for some advice I feel like anyone that posts a "I'm 24 and make 65k a month" thread on the internet is just looking to brag. I've looked on /r/personalfinance a few times and it's either the gems that get posted here, or <30 year olds making 6 figures who are obviously just making a thread to brag. There is no inbetween.
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Jan 6, 2015 00:42
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melon cat posted:I just read this article that has been circulating the Internet. Long story short- an individual bought a $90,000 Tesla Model S. And like many Model S owners before him, he financed a large part of the purchase- a $70,000 bank loan. I don't get it. If they declare the car a loss, doesn't the insurance company have to pay $70k instead of $30k? I thought they usually did that when the cost of repairs was greater than the book value of the car.
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Jan 6, 2015 01:42
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DuckConference posted:I don't get it. If they declare the car a loss, doesn't the insurance company have to pay $70k instead of $30k? I thought they usually did that when the cost of repairs was greater than the book value of the car. If the insurer declares it a loss, they get to auction it off.
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Jan 6, 2015 03:29
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Rudager posted:I've looked on /r/personalfinance a few times and it's either the gems that get posted here, or <30 year olds making 6 figures who are obviously just making a thread to brag. There is no inbetween. I agree about the bragposting but I think for a lot of young high earners who don't come from wealthy families, making serious bank can actually become pretty stressful. When you feel like FI is actually attainable you begin to obsess about it and feel guilty if you don't meet your goals, especially if you don't have a solid support structure or a mentor(s) to guide you and help keep your head on straight. In my opinion this guy seems earnest in his pursuit for advice, because he knows how much he doesn't know and realizes that he could very easily ruin his chances at FI forever with just a few slip-ups. He knows a lot about social media marketing and sales funnels, enough to make him a baby-millionaire by 25, but he knows dick about investing his cash as evidenced by his bitcoin and precious metals holdings...so I can't fault him for reaching out for advice. I wish more people could come forward with their success, however the internet is not a place that values positivity in this regard.
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Jan 6, 2015 03:41
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My brother-in-law and sister-in-law came into a decent sum of windfall money (~$15,000) a few weeks ago, and they've been going nuts with it. Also a bow-flex, new car, new rental house, etc. They've increased their income to the tune of maybe $1,500/mo, when they were making close to nothing before (especially with 3 kids), but once that $15,000 runs out I think they're in for a rude awakening. I'm not judging because I've been there, but it's like drat we've been trying to put away money for over a year now and $15,000 is a lot of money actually. It's disappointing to see it disappear. Knyteguy fucked around with this message at 04:18 on Jan 6, 2015 |
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Jan 6, 2015 04:02
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Dangit Ronpaul posted:You're not wrong, but if having a job doesn't get him anywhere financially, he's probably better off with volunteering, doing some kind of freelance work, or picking up a more structured hobby. That way he gets the benefits of getting out of the house without all the bullshit that comes with depending on a job for immediate survival. Freelance what? Handiman? I think a construction worker can probably do pretty well doing that sort of work while still staying on the dole and working under the table. That being said, most people want to work, and getting any sort of job even if it's financially break even can be great for many people's self esteem. You're looking at someone else's problem through the lense of someone who is young and probably has marketable skills. Knyteguy posted:My brother and sister-in-law came into a decent sum of windfall money (~$15,000) a few weeks ago, and they've been going nuts with it. Lol @ fat-hand. Tell that dummy to go on a diet.
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Jan 6, 2015 04:16
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Knyteguy posted:My brother-in-law and sister-in-law came into a decent sum of windfall money (~$15,000) a few weeks ago, and they've been going nuts with it. You can take the person out of the paycheck-to-paycheck lifestyle, but you can't take the paycheck-to-paycheck lifestyle out of the person. It's such a shame. 15k could be a life-changing amount of money with the relative safety net it'd provide to someone living on only 1500/mo (with 3 kids!  ) within their means. I'm all in favor of treating yourself within reason, because after all you've got to enjoy life sometimes too, but 15k just don't go that far these days and gets vaporized quickly if you piss it away on mindless consumption.
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Jan 6, 2015 04:28
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Guinness posted:You can take the person out of the paycheck-to-paycheck lifestyle, but you can't take the paycheck-to-paycheck lifestyle out of the person. The more I read into personal financial advice, the more obvious and polarizing the line gets between financial responsibility and mindless consumption, to me. Before what I'd define as 'just treating myself' is now 'a horrible use of money', hahaha.
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Jan 6, 2015 04:31
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jon joe posted:The more I read into personal financial advice, the more obvious and polarizing the line gets between financial responsibility and mindless consumption, to me. Before what I'd define as 'just treating myself' is now 'a horrible use of money', hahaha. For me, I guess the difference is between something that contributes to a higher quality of living or is a unique experience, versus some quick instant gratification thing. Obviously what those things are will vary between people, but I think a lot of us will agree that using a small windfall to finance new cars you can't actually afford and gorging yourself on all-you-can-eat Sushi 4x a week don't fit that description. Granted I'm not living paycheck to paycheck, but if I had a 15k windfall I wouldn't feel bad spending a few grand on a foreign backpacking trip or on buying a durable good like a nice new bicycle (exercise, recreation, practicality) or some new touring skis (exercise, recreation) that I can get a ton of use out of. You know, things that I resist the temptation to spend money on now because I can't "afford" it, despite technically having the cash to do so. But I'd still end up saving/investing at least 10k of it toward something significant in the future, like a house when I'm ready. Guinness fucked around with this message at 05:18 on Jan 6, 2015 |
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Jan 6, 2015 05:11
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jon joe posted:The more I read into personal financial advice, the more obvious and polarizing the line gets between financial responsibility and mindless consumption, to me. Before what I'd define as 'just treating myself' is now 'a horrible use of money', hahaha. Yeah risk managment and prudent spending are so LOL
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Jan 6, 2015 05:23
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Knyteguy posted:My brother-in-law and sister-in-law came into a decent sum of windfall money (~$15,000) a few weeks ago, and they've been going nuts with it.  california rolls
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Jan 6, 2015 06:41
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No you see a man with a belly flowing over the top of the table and on the verge of breaking his mancelet is a true gourmand.
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Jan 6, 2015 07:27
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That is an arm.
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Jan 6, 2015 08:22
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Yeah that sushi looks pretty gross. That being said, all you can eat sushi is generally cheaper than a plate of high quality sushi. It's totally worth the money though. Now I want a $35 plate of sushi THANKS THREAD.
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Jan 6, 2015 12:43
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yeah if you're going to blow money on going out for sushi at least go someplace good instead of getting california rolls at a lovely buffet
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Jan 6, 2015 15:39
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n8r posted:No you see a man with a belly flowing over the top of the table and on the verge of breaking his mancelet is a true gourmand. You're really putting in a lot of effort in calling this person fat.
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Jan 6, 2015 15:43
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| # ? May 28, 2024 08:38 |
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The saddest thing is they think that is good sushi. I can get higher quality fresh tempura rolls here for 6.99 for 16 rolls. But yay for living on the coast I guess.
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Jan 6, 2015 16:44
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