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I thought the $3k per month mortgage was for an 11 year mortgage (although as they appear to only be 10% deposit the other $35k is probably at personal loan/credit card rates).
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Sep 14, 2015 22:47
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Devian666 posted:I thought the $3k per month mortgage was for an 11 year mortgage (although as they appear to only be 10% deposit the other $35k is probably at personal loan/credit card rates). If so, that makes it even worse. Why pay extra towards a ~4% APR mortgage when you have $100k+ of student loans (probably at >4%) you can barely make the minimums on?
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Sep 14, 2015 23:59
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It just seems to be a whole lot of bad decisions, or potentially she's wrong about their financial situation because she's an idiot. There are plenty of people who can't make rational decisions in relation to interest rates. Some people put priority on their mortgage while they are carrying a credit card balance.
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Sep 15, 2015 00:03
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Buying things while drunk has high potential to turn out to be bad with money:quote:My favorite drunk purchase story (wasn’t me): quote:I bought my house while pretty smashed. My realtor called me to inform me of a counter offer the seller made while I was out at a bar. I stepped out to have a smoke, and I told my agent “You tell those sons of bitches I’m not paying a dime over $xxx,xxx and they have two hours to respond or I’m walking.” Pretty big loving mistake since the house has turned out to be a real lemon. Sometimes it's funny though: quote:Inflatable life-size Ben Wallace. Best pool boy ever.
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Sep 15, 2015 00:03
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oRenj9 posted:What area is this in? Most hospitals in the midwest seem to pay between $23-30/hr. That's a pretty healthy jump. Northeast, non-NYC/Boston/DC
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Sep 15, 2015 01:04
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So poking around r/personalfinance led me to r/churning. Holy hell this is one deep rabbit hole 
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Sep 15, 2015 04:09
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Churning is (potentially) really good with money though if you like to travel.
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Sep 15, 2015 04:41
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I had a look at the thread titles and subscribed. Some interesting reading, I tried to find some bad with money stories but found ones where people are travelling so much that they don't relate to a lot of people now. Also another guy who made enough that he was doubling his effective annual pay from MS.
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Sep 15, 2015 05:08
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The first rule of churning is: start slow The second rule of churning is: slower
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Sep 15, 2015 05:19
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Rudager posted:So poking around r/personalfinance led me to r/churning. Maybe I'm just really lazy, but that sounds like a lot of effort and risk to earn a insignificant amount.
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Sep 15, 2015 05:26
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CitizenKain posted:Maybe I'm just really lazy, but that sounds like a lot of effort and risk to earn a insignificant amount. I make probably $2.5k in rewards a year and that's with very little effort. That's significantly down from when I was flying 75k a year, mileage runs/promo abuses were still around, and expensing everything I spent traveling on behalf of the company on my personal CCs. It made a big difference in my ability to travel when I was younger and just starting out in life. To people looking into it: I agree with the above post. Slow. No, slower. SLOWER STILL. Oh, and everyone who's deep into churning is a weirdo entitled "old white guy" rear end in a top hat somewhere on the spectrum who's paranoid that if he or she (ok, it's always 'he') tells anyone his gimmick that it'll be ruined. So, it's hard starting out to get any advice.
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Sep 15, 2015 05:51
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It's best to put in minimal effort although I live in a country that doesn't have all the free points available. Picking up 1-5% in rewards/air miles/cash back for your existing spending is worth changing credit cards. Also online malls/liquor sales that give air miles are also useful for getting free flights.
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Sep 15, 2015 06:00
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Anyone got experience in "churning" (if that's the correct term) credit cards that are attached to frequent flyer programs? I've seen heaps of credit cards that offer 10k points if you sign up, with a year free. I haven't read the conditions properly but I know the first year is free, you're required to spend a certain amount on the card within a specified time period. What's stopping me from putting my groceries for a month on the credit card, getting hte points then legging it (cancelling)? Is it illegal?
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Sep 15, 2015 06:03
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Suspicious Lump posted:Anyone got experience in "churning" (if that's the correct term) credit cards that are attached to frequent flyer programs? I've seen heaps of credit cards that offer 10k points if you sign up, with a year free. I haven't read the conditions properly but I know the first year is free, you're required to spend a certain amount on the card within a specified time period. What's stopping me from putting my groceries for a month on the credit card, getting hte points then legging it (cancelling)? Most just require you to spend $500 to $3000 in x months to get the points. Just cancel the card before the annual fee kicks in. You just need to allow some time between each credit card application. Not unusual for people to churn 6-7 cards but you'd want to research what you are doing. Nothing illegal about it just follow the rules for the card and don't overdo it. There's a point where you'll be doing too much administration looking after a stack of cards.
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Sep 15, 2015 06:06
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CitizenKain posted:Maybe I'm just really lazy, but that sounds like a lot of effort and risk to earn a insignificant amount. It seems worth it when you're on a 16 hour flight flying full first class with a bed on an Asian carrier drinking $400 bottles of champagne and you paid just shy of $90 for the ticket.
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Sep 15, 2015 06:08
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Or if you're the pudding guy and get lifetime gold status for $3000 worth of pudding and get a tax refund of $815 for donating it to charity. Oh and the 1.2 m air miles. https://en.wikipedia.org/wiki/David_Phillips_(entrepreneur)
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Sep 15, 2015 06:11
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Suspicious Lump posted:Anyone got experience in "churning" (if that's the correct term) credit cards that are attached to frequent flyer programs? I've seen heaps of credit cards that offer 10k points if you sign up, with a year free. I haven't read the conditions properly but I know the first year is free, you're required to spend a certain amount on the card within a specified time period. What's stopping me from putting my groceries for a month on the credit card, getting hte points then legging it (cancelling)? You have the gist of it. What you're describing is not illegal, though depending on how soon you cancel you may end up on a card issuer's shitlist and have trouble getting more cards from them in the future. If you're interested in a "just starting out" strategy tailored to your circumstances, I suggest you come to the credit card thread and you'll be able to find some help. To give everyone an idea of what I mean by slowly, here's my timeline of card applications since I learned about this at the end of 2013: Dec. 2013: No applications, just reading and learning Jan. 2014: No applications, just reading and learning Feb. 2014: Approved for 1st card Mar. 2014: No applications Apr. 2014: No applications Jun. 2014: No applications Jul. 2014: No applications Aug. 2014: Approved for 2nd card Sep. 2014: No applications Oct. 2014: No applications Nov. 2014: No applications Dec. 2014: No applications Jan. 2015: Approved for 3rd, 4th, and 5th cards Feb. 2015: No applications Mar. 2015: 1st denial Apr. 2015: Approved for 6th and 7th cards May 2015: No applications Jun. 2015: 2nd denial Jul. 2015: Approved for 8th, 9th, and 10th cards Aug. 2015: Approved for 11th and 12th cards Sep. 2015: No applications In other words, I took a couple months just to figure out the process, and then stuck with my first card for several months. This was overly cautious, but it's very easy to get yourself in trouble if with churning if you don't know what you're doing.
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Sep 15, 2015 06:16
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Does it not just obliterate your credit score having 12+ open credit lines?
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Sep 15, 2015 07:45
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BossRighteous posted:Does it not just obliterate your credit score having 12+ open credit lines? Nope 
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Sep 15, 2015 07:57
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BossRighteous posted:Does it not just obliterate your credit score having 12+ open credit lines? pig slut lisa/Devian666: Thanks for the info.
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Sep 15, 2015 08:03
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BossRighteous posted:Does it not just obliterate your credit score having 12+ open credit lines? The only part of opening new tradelines can be hurting your Average Age of Accounts. That accounts for 10% of your score. On a healthy thick profile this will have little to no effect, but it's also why you have to be careful about closing them, because it only counts the time they are open into your age. This is why going slow is very important. You need to keep cards open 12-18 months, but this can make it difficult to get more cards from lenders if you aren't able to financially justify that much open credit at a time. It's a game, you learn the rules you will be fine. If you open 24 store cards in one day, you may have a problem.
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Sep 15, 2015 11:25
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CitizenKain posted:Maybe I'm just really lazy, but that sounds like a lot of effort and risk to earn a insignificant amount. It takes a tiny amount of effort to accurately track everything, but really you're just occasionally applying for a new credit card (takes about 2 minutes) and then spending everything on it. There's some risk in not paying attention and not getting minimum spend in the promotion period or forgetting to cancel before an annual fee (or, god forbid, forgetting to pay and being charged interest) but that's really about it.
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Sep 15, 2015 13:43
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It would also count against your hard inquiries.
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Sep 15, 2015 14:25
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Companies are now wising up to churners and starting to place caps on recent card issuance and credit inquiries
BEHOLD: MY CAPE fucked around with this message at 15:30 on Sep 15, 2015 |
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Sep 15, 2015 15:11
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We have a thread for this derail. Get thee to it. Also, I hope this isn't a repost. This wasn't the sever post was it.. quote:Wife charged $80k on credit cards! Need advice.
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Sep 15, 2015 15:24
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SiGmA_X posted:We have a thread for this derail. Get thee to it. Uh, call the casinos and gave her banned? Is she smart enough to gamble online?
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Sep 15, 2015 15:45
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SiGmA_X posted:We have a thread for this derail. Get thee to it. That's a huge red flag for a treatable mental disorder. My mom is bipolar and when she would go manic she would max out a credit card every time. My mother in law is exactly the same.
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Sep 15, 2015 16:01
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That's part of the diagnostic questionnaire for mania, even. Mental illness is pretty bad with money.
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Sep 15, 2015 16:54
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SiGmA_X posted:We have a thread for this derail. Get thee to it. Nope. I was tempted to post a link to that one myself. Most of the replies seemed to be advice on how to go about divorcing her.
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Sep 15, 2015 17:54
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Golluk posted:Nope. I was tempted to post a link to that one myself. Most of the replies seemed to be advice on how to go about divorcing her. I wonder how bi-polar and maniac depressives expressed themselves in a pre-consumer society. Or were they just burnt at the stake? "Dearest Reddit, I discovered on this fortnight that my good wife hath spent our whole potato crop on colored stones she doth claim will be the currency of the future. I am not using my regular town cryer because my shame is too great."
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Sep 15, 2015 18:40
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My wife bought the most exquisite jacquard to wear. Alias, we can not feed the cows this winter.
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Sep 15, 2015 19:10
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Krispy Kareem posted:I wonder how bi-polar and maniac depressives expressed themselves in a pre-consumer society. Religious mania was a good one.
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Sep 15, 2015 19:26
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Krispy Kareem posted:I wonder how bi-polar and maniac depressives expressed themselves in a pre-consumer society. Or were they just burnt at the stake? https://en.wikipedia.org/wiki/Dancing_Plague_of_1518
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Sep 15, 2015 20:41
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Golluk posted:Nope. I was tempted to post a link to that one myself. Most of the replies seemed to be advice on how to go about divorcing her. I would hope that they would consider treatment before divorce.  People with bipolar can become stable with proper care.
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Sep 15, 2015 22:02
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https://www.reddit.com/r/legaladvice/comments/3l77wy/ny_got_a_job_at_a_pizzeria_only_paid_in_gift/quote:I just turned 18 and am working full time in a small pizzeria (just a storefront with pickup to go and delivery.) I am also going to night school part time. I am all on my own and I moved into my apartment and started this job at the beginning of September. I started the job on September 1st. I was supposed to be paid on the 15th for 2 weeks of work (September 1-14). In that time period I worked 96 hours. Yesterday instead of a paycheck my boss gave me gift certificates for the pizzeria instead. He says he can't afford to pay me money and I must have misunderstood when he hired me because he made it clear I would be paid in gift certificates instead of money. He never said anything like that to me. The pizzeria is independently owned so I have no one else to go to about this. I complained to him but he said that it's all legal because he paid me the full amount I would have gotten in money except with gift certificates and that if I keep complaining he will fire me and void the certificates. He also said he could have given me less because I am under 21 and the law lets him pay young people less. All the other people who work there are family of his and he pays them money. Is it legal that he is doing this? I never would have taken the job if I knew I wouldn't be paid in money. I need money to pay for my rent, my books for school and for winter clothes because I only have dresses and I can't just survive eating pizza and nothing else. Does it come with a Deep Dish Pizza 401k?
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Sep 17, 2015 19:34
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I'm a high roller in the pizza world, I get paid in 100-lot pizza futures.
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Sep 17, 2015 19:38
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Sepherothic posted:https://www.reddit.com/r/legaladvice/comments/3l77wy/ny_got_a_job_at_a_pizzeria_only_paid_in_gift/ Wait, so at $7 thats like $700 in pizzas. That's a lot of loving pizza. She could go to the local labor enforcement agency and/or the IRS and get him in a shitload of trouble with a probable audit. I'm pretty sure even without an employment contract no one would believe a college student would work for pizz...well, maybe it's plausible. Pizza is delicious.
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Sep 17, 2015 19:57
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Krispy Kareem posted:Wait, so at $7 thats like $700 in pizzas. That's a lot of loving pizza. Does accepting and using the gift certificates affect your legal ability to sue the deadbeat pizza place for the wages they owe you? I'd sorely be tempted to order 40 pizzas at a really inconvenient time right before quitting. Hand them out to 40 friends/family members and have them each order a single pizza right before the dinner rush on your day off.
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Sep 17, 2015 20:10
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Gabriel Pope posted:Does accepting and using the gift certificates affect your legal ability to sue the deadbeat pizza place for the wages they owe you? I'd sorely be tempted to order 40 pizzas at a really inconvenient time right before quitting. Hand them out to 40 friends/family members and have them each order a single pizza right before the dinner rush on your day off. This is a good idea if you want your friends and family to have a bunch of hastily-made lovely pizzas that arrive an hour and a half after they order them.
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Sep 17, 2015 20:21
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Sepherothic posted:https://www.reddit.com/r/legaladvice/comments/3l77wy/ny_got_a_job_at_a_pizzeria_only_paid_in_gift/ That dude is a loving scumbag. A) you can only pay someone less if they are under 16 and only under very specific circumstances in ALL states. B) holy gently caress pizza pay C) holy poo poo she should sue him for everything he's got. God drat. edit: Well Michigan is a bigger piece of poo poo state than I thought it was since they brought back the training wage. silicone thrills fucked around with this message at 20:24 on Sep 17, 2015 |
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Sep 17, 2015 20:22
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