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BossRighteous posted:God forbid the thread actually talk about people, or money. Yeah, let's keep it to tipping, car buying, and driving in snow. (I recommend you move to a place where you don't have to do any of the three). 22 y/o male making 35k a year, can I afford a house? Some more background of me. I work in Charlotte NC making 35k a year, I have a dog so some vet bills, I have no gf although I will probably will have one in the future, I'm not gunna blow money on her left and right but I'm sure you understand. and other than those things I am extremely frugal and hate spending money. My sister, who I could rent to, could help pay for the mortgage. I am just having no luck finding a good rental property and figured I might explore other alternatives. I have 6k in the bank as savings but that's about it other than some stocks which I have 3.2k in. I would rather not liquidate my stocks if I can help it but I am in a secure job in a company owned by family friends who actually recommended to me that I try and buy a house. And I think it would be a better investment than just paying for somebody else's mortgage. If you need any other information feel free to ask, I want to hear everybody's thoughts. Most of the comments say "you can't afford it, but even if you could, you probably shouldn't" Then some other idiot says Depends where you live. In my city there are totally decent houses starting at $50k, depending on what you want. A 15 year mortgage with 5% down has low PMI premiums that go away in less than 3 years. With insurance and taxes its cheaper than renting. If you can find something close to Charlotte at a low price, it could be financially beneficial to buy. Sure, wipe out your savings to buy a $50k house! You probably wouldn't need to have a cash cushion for maintenance on a $50k house anyway, it's not like it's a $20k house!
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Mar 5, 2015 00:45
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I bought my home in Charlotte while making less money. While s/he probably could afford it, s/he definitely shouldn't. He (or she) needs to look harder, there's a ton of homes for rent in Charlotte. Nocheez fucked around with this message at 01:33 on Mar 5, 2015 |
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Mar 5, 2015 01:30
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pig slut lisa posted:Not to derail, but I think this might only apply to posters like you. I've been very fortunate (through some crazy coincidences) to be able to give some good advice to people in this thread in the past. Maybe a good strategy for you would be trying to post more like I do? lol
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Mar 5, 2015 01:51
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the littlest prince posted:I second the "don't post about yourself" rule. I disagree. People should be free to post about themselves in this thread. Just don't expect anyone to think you're good with money if you do.
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Mar 5, 2015 02:24
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the littlest prince posted:This might be some kind of meta-joke that's flying over my head it's
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Mar 5, 2015 03:23
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Does anyone have a link to that story about the guy who worked with a girl who thought credit cards were literally free money? They were colleagues at a bar or shop or something and he had to take her in the back room and sit her at a computer and show her online that she'd have to pay back the thousands she'd racked up. She had always gone on about how she couldn't understand why people didn't put all their bills on their card and he just assumed she was joking. I think it might have been from the "reasons I no longer desire to work in retail" thread.
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Mar 6, 2015 11:40
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jaymeekae posted:Does anyone have a link to that story about the guy who worked with a girl who thought credit cards were literally free money? They were colleagues at a bar or shop or something and he had to take her in the back room and sit her at a computer and show her online that she'd have to pay back the thousands she'd racked up. She had always gone on about how she couldn't understand why people didn't put all their bills on their card and he just assumed she was joking. It's definitely been posted in here, cause I've seen it before and I don't read the retail thread.
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Mar 6, 2015 14:20
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pig slut lisa posted:and I don't read the retail thread. that's a shame, since the poverty thread is kind of like a petting zoo version of this thread
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Mar 6, 2015 15:38
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http://www.reddit.com/r/relationships/comments/2y166l/i_28f_found_out_that_a_friend_29f_owes_thousands/quote:So here's the backstory: there are about 8 people in my current group of close friends. TLDR: Guy [edit: sorry, girl] lends friend $2k to go on holiday, even though she has previously borrowed money and failed to repay it, and has admitted tens of thousands of dollars of credit card debt. Turns out she's borrowed money off everyone in friendship group, including $3k from one guy who has never seen it back. jaymeekae fucked around with this message at 16:54 on Mar 6, 2015 |
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Mar 6, 2015 15:59
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Katie must be really hot.
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Mar 6, 2015 16:04
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Celador posted:Katie must be really hot. Beat me to it Sounds like everyone in this friend group is a doormat.
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Mar 6, 2015 16:15
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Why in the world would you lend 2k to someone who's told you that they're "tens of thousands" in credit card debt.
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Mar 6, 2015 16:18
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Katie sounds like shes great with money actually
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Mar 6, 2015 16:21
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Nail Rat posted:Why in the world would you lend 2k to someone who's told you that they're "tens of thousands" in credit card debt. Either it's a nerd social fallacies thing or a desperately trying to get laid thing Either way this group of people is super dumb
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Mar 6, 2015 16:23
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Not a Children posted:Either it's a nerd social fallacies thing or a desperately trying to get laid thing The OP (the one who let her borrow 2k) is also a girl but I guess that's possible.
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Mar 6, 2015 16:31
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Nail Rat posted:The OP (the one who let her borrow 2k) is also a girl but I guess that's possible. Ah yeah my bad, I wrote guy in my TLDR but it said F in her headline. Also the one who initially brought up the conversation is also a girl. It makes no sense. They must all be loaded.
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Mar 6, 2015 16:57
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Not a Children posted:Either it's a nerd social fallacies thing or a desperately trying to get laid thing I wouldn't be surprised if it was a nerd social fallacies thing. While I don't think I was ever this dumb, I did have a friend who quite often was 'too broke' to go out. She seemed pretty sincere and regretful she couldn't make it due to her financial situation, so sometimes I'd just cover the cost because, ya know, that's what friends do. It's not like she was mooching off me every weekend, just every once in a while she'd have no money and I'd just pay for the cinema tickets or whatever. I can definitely see that stacking up across the years, though it sounds like that persons friends went a step further and directly funded her lifestyle. For reference, the aforementioned friendship sort of petered out on it's own. The 'I'm broke' act wore a bit thin when it became apparent she wasn't broke, she just had different priorities to the rest of the group.
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Mar 6, 2015 17:47
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An argument on about MLMs And of course the person calling that dude ignorant lists her employment as "It Works" http://www.myitworks.com/
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Mar 6, 2015 18:25
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Knyteguy posted:An argument on about MLMs LMAO https://www.youtube.com/watch?v=Mjz5qImHtdc
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Mar 6, 2015 18:30
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What don't you want to be a Wrapreneur? Look how happy that lady in the video is it's obviously foolproof. Here's another bad with money (... or something) I just found: 
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Mar 6, 2015 18:53
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Bad with money is using this guy's financial adviser (or most financial advisers): https://www.bogleheads.org/forum/viewtopic.php?f=1&t=160071 quote:I have been with the same adviser since 2010. I'm over 50, by a couple years only. I'm concerned I'm not getting a good enough return, but I don't want to move my portfolio without knowing for sure if my accounts are under-performing with this adviser. I have seen equities go up and up but not so my portfolio. Here are a few details: He basically lost a couple hundred thousand dollars in returns over the last 5 years because of his lovely adviser.
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Mar 6, 2015 21:15
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A P2P loan came up in the market. A couple wants to borrow $16750 to purchase a boat. They have a monthly income of $8000 and the repayment would only be $447 per month for 5 years. Yet they only have a credit grade of C5. What does this all mean? They building boat equity by paying 20.03% interest. So naturally to be good with money I've contributed $25 towards the loan.
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Mar 6, 2015 21:58
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Devian666 posted:A P2P loan came up in the market. A couple wants to borrow $16750 to purchase a boat. They have a monthly income of $8000 and the repayment would only be $447 per month for 5 years. Yet they only have a credit grade of C5. That's really bad with money (on your part and theirs). That is not a loan I would have backed. I only go in for debt/cc consol loans, April put a really good guide to not having defaulted loans in the P2P loan thread.
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Mar 6, 2015 22:12
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I wish I would have saved it, but there was a Facebook post in one of the local community groups today from a lady asking for fundraiser ideas so that she and her husband could afford to buy a house after renting the house from a landlord for the past 16 years. "We can finally afford to buy the house, but there a lot of other expenses that we need help with. Please give me some fun ideas for fundraisers to come up with the rest of the money!" Every post after that was pretty much "WTF are you thinking" and "if you need fundraisers to afford to buy a house, you can't afford to buy a house". She got pissy and deleted it within 15 minutes or so. Can't wait to see her next post in 5 months "Help, we're being evicted because we can't pay the mortgage!"
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Mar 6, 2015 22:17
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Bloody Queef posted:That's really bad with money (on your part and theirs). That is not a loan I would have backed. I only go in for debt/cc consol loans, April put a really good guide to not having defaulted loans in the P2P loan thread. I know. I have a small percentage of loans that fall into the not that great category. Most of the loans i dismiss are unspecified, holidays and even weddings. I fully expect they will end up cutting their boat in half in about 4-5 years. Don't worry I have read the p2p thread in detail. e: Also think about buying a boat with no money down at credit card rates. Devian666 fucked around with this message at 22:25 on Mar 6, 2015 |
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Mar 6, 2015 22:21
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DJCobol posted:I wish I would have saved it, but there was a Facebook post in one of the local community groups today from a lady asking for fundraiser ideas so that she and her husband could afford to buy a house after renting the house from a landlord for the past 16 years. "We can finally afford to buy the house, but there a lot of other expenses that we need help with. Please give me some fun ideas for fundraisers to come up with the rest of the money!" I'm paying my mortgage with a long term fundraiser in which I'm exchanging my time and talents to a company for cash over the course of many years. I know this couple who wanted to adopt their second kid. He had just graduated from a third tier law school and had a hard time finding work. They held a "fundraiser dinner" and invited all their also broke, young family friends to it to raise money for the adoption fees. I guess that's more "tacky with money".
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Mar 6, 2015 22:55
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It took me a second to figure out why a couple was trying to adopt a lawyer.
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Mar 6, 2015 23:48
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Having an adopted lawyer is good with money. Just pay the adoption fees and you can badger them into giving you free legal advice forever, because it's for family!
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Mar 6, 2015 23:56
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Zo posted:that's a shame, since the poverty thread is kind of like a petting zoo version of this thread your a real classy goon.
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Mar 7, 2015 00:04
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Someone the other day was telling me the next financial crises will be with car loans. His explanation was everyone these days are approved for cars well beyond their means and it will be a duplicate of what has happened to the financial market. He also states there will be another housing crash. Personally I have no idea as his concept might be a little out there. I will say though living in Miami, there are a lot of fancy cars. I'm almost ashamed to say my car budget is more fancy that practical. However my justification is I am boring. I rarely go out, don't drink alcohol and pirate way too many movies to view at home. SO my vice is my car and that is about it. However I do have 2 roommates which supplements my mortgage payments.
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Mar 7, 2015 00:07
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hacker news, the new reddit posted:crpatino 1 hour ago 
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Mar 7, 2015 00:17
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OatmealRocks posted:Someone the other day was telling me the next financial crises will be with car loans. His explanation was everyone these days are approved for cars well beyond their means and it will be a duplicate of what has happened to the financial market. He also states there will be another housing crash.
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Mar 7, 2015 00:25
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OatmealRocks posted:Someone the other day was telling me the next financial crises will be with car loans. His explanation was everyone these days are approved for cars well beyond their means and it will be a duplicate of what has happened to the financial market. He also states there will be another housing crash. All I know is that if you have good credit, it's crazy cheap to borrow money for a car nowadays. When my wife and I were looking recently, we quickly found that we would be able to get less than 2% without incentive financing.
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Mar 7, 2015 04:07
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Powerlurker posted:All I know is that if you have good credit, it's crazy cheap to borrow money for a car nowadays. When my wife and I were looking recently, we quickly found that we would be able to get less than 2% without incentive financing.
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Mar 7, 2015 04:47
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The finance lady seemed shocked when I casually offered to put a 2k down payment on my bike. Also a bit surprised when I wasn't concerned with monthly payments, so much as the total cost.
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Mar 7, 2015 06:27
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HerrBrau posted:I can confirm this. My wife and I just bought a brand new Subaru a few months ago at 1.49% on a 4 year loan. Same with my wife and a new Nissan last month. We got the .9% incentive financing for a three year note, but even without that, my bank would have given me 1.75 without any problems.
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Mar 7, 2015 07:12
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Golluk posted:The finance lady seemed shocked when I casually offered to put a 2k down payment on my bike. Also a bit surprised when I wasn't concerned with monthly payments, so much as the total cost. The first time I saw American car commercials I was completely appalled because not once did they actually show the price of the vehicle in any kind of clear manner - they may have put it in the fine print, but you would have to have paused it to actually found it. Like, I know that America as a whole has a debt problem, but when advertisers are directly approaching with the attitude of "you don't even need to know ho much it costs, but let's see if you can afford the payments" it explains a lot.
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Mar 7, 2015 08:41
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Powerlurker posted:Same with my wife and a new Nissan last month. We got the .9% incentive financing for a three year note, but even without that, my bank would have given me 1.75 without any problems.  Maybe I should look into one of these refinancing deals all these banks are sending me. I feel like I'm being ripped off at my credit union at 4.5% interest now.
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Mar 7, 2015 15:01
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Breetai posted:The first time I saw American car commercials I was completely appalled because not once did they actually show the price of the vehicle in any kind of clear manner - they may have put it in the fine print, but you would have to have paused it to actually found it. Like, I know that America as a whole has a debt problem, but when advertisers are directly approaching with the attitude of "you don't even need to know ho much it costs, but let's see if you can afford the payments" it explains a lot. It's even better. They advertise monthly payments for zero money down leases 
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Mar 7, 2015 16:33
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The best car commercials are on the radio. They prey directly on the poor and desperate, and advertise no credit checks, guaranteed financing, and/or how little you need to give them to drive away with the vehicle.
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Mar 7, 2015 16:59
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