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When your entire self-worth revolves around what car you drive (and the length of your mullet) you don't need to be good with money.
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Sep 30, 2015 04:06
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I have to say, driving a car you like or want is also an experience that's hard to explain. I really wanted a Mustang with 99-04 body style and I got a 2003 with mint paint, but broken syncros of the fifth gear, a hosed gauge cluster, a broken seat and occasionally working blinkers. I paid 1900$, installed LED running lights with less than 50 bucks, got an insurance discount of 11$ a month, 20$ seat covers, 10$ steering wheel cover and a 99$ radio with USB and I love that lovely rear end car to death so hard. And spent a day cleaning, stitching seats, and re-finishing the dash plastic. I did a GWM beater car purchase and I LOVE IT. it feels like I won two times with money decisions every time I drive it, despite having to time the 5th gear in. Vahakyla fucked around with this message at 04:40 on Sep 30, 2015 |
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Sep 30, 2015 04:37
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Vahakyla posted:I have to say, driving a car you like or want is also an experience that's hard to explain. I really wanted a Mustang with 99-04 body style and I got a 2003 with mint paint, but broken syncros of the fifth gear, a hosed gauge cluster, a broken seat and occasionally working blinkers. But you still own a car  Bad with life is living in suburban Texas with a bicycle as a primary means of transportation
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Sep 30, 2015 05:03
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Vahakyla posted:I have to say, driving a car you like or want is also an experience that's hard to explain. I really wanted a Mustang with 99-04 body style and I got a 2003 with mint paint, but broken syncros of the fifth gear, a hosed gauge cluster, a broken seat and occasionally working blinkers. Yeah, but you haven't traded it in for something else a few weeks later, right? Nothing wrong with being a car enthusiast if you have the money for it. The BWM types though keep buying cars and trading them in until they're deep in debt.
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Sep 30, 2015 05:38
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xsf421 posted:To put this in perspective, these were my numbers while living in the DC metro as an E-4. I'm a little late to the party here, but I know a couple that jumped into a marriage for exactly this reason and even with the housing allowance, they blew through almost all their money while enlisted. It's been nearly 4 months since they've been out, only one of them has been able to find a job, and they've been living in their parent's house (and using the spare bedroom and backyard as storage units for their furniture, etc.) because they can't even afford to pay their own car insurance. This is the same couple that recently told me that a family could "easily and comfortably live on minimum wage if they just budget well." It's actually been a really upsetting process to watch unfold and I'm afraid it will only get worse. They recently talked about trying to buy a house soon with a VA Loan, which... man, what a terrible idea right now.
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Sep 30, 2015 07:26
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Good news. VA loans aren't THAT easy to get. You have to have income.
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Sep 30, 2015 13:19
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Vahakyla posted:having to time the 5th gear in. AI cross-post. If you double clutch into 5th (clutch in, 4th->neutral, clutch out, clutch in, neutral->5th, clutch out) you should be able to shift into 5th at any rpm, without grinding the gear or needing to time it.
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Sep 30, 2015 15:56
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No Butt Stuff posted:Good news. VA loans aren't THAT easy to get. You have to have income. Oh, I know. I have a few other friends that went through the process. I just meant that even thinking about buying a home right now is a terrible idea for them and shows their complete lack of financial knowledge. I'm afraid that they'll one day just barely squeeze through and then be stuck with a property that they can't really afford, but eh, what's new?
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Sep 30, 2015 16:16
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I had a good laugh at a facebook ad I got on my phone the other day for some guaranteed mortgage spot for people with lovely credit. Shame I didn't get any screen shots, and I haven't seen the ad again. I took a look at the comments and saw the owner of the page doing two things. First, he was wildly combative, and would straight up insult anyone who said anything negative about it. Secondly, if someone asked "can I afford it if X", he always said yes. One person asked "can I get a mortgage if I'm unemployed and my only income is social security?" and was met with a resounding yes. I was amused.
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Sep 30, 2015 16:25
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Senf posted:Oh, I know. I have a few other friends that went through the process. I just meant that even thinking about buying a home right now is a terrible idea for them and shows their complete lack of financial knowledge. I'm afraid that they'll one day just barely squeeze through and then be stuck with a property that they can't really afford, but eh, what's new? Yeah, I really wish the VA loans had better restrictions in place for what they'd loan you. On an 80k salary with no downpayment and still paying on another mortgage, the VA was happy to lend me at least 300k. Like... how does that make any sense? Don't do that.
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Sep 30, 2015 16:32
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Renegret posted:I had a good laugh at a facebook ad I got on my phone the other day for some guaranteed mortgage spot for people with lovely credit. Shame I didn't get any screen shots, and I haven't seen the ad again. Kind of rings bells in relation to being a mortgage scammer. I wonder if the page's owner charges a fee then disappears once it's paid?
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Sep 30, 2015 20:10
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Renegret posted:I had a good laugh at a facebook ad I got on my phone the other day for some guaranteed mortgage spot for people with lovely credit. Shame I didn't get any screen shots, and I haven't seen the ad again. Other than the fact that it's not likely to be a large income, why would you think that social security recipients wouldn't be able to qualify for a mortgage? Like just for one example why would a retired married couple both drawing social security not qualify if they wanted a mortgage? BEHOLD: MY CAPE fucked around with this message at 03:36 on Oct 1, 2015 |
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Oct 1, 2015 03:33
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Devian666 posted:Kind of rings bells in relation to being a mortgage scammer. I wonder if the page's owner charges a fee then disappears once it's paid? Gets paid for referring leads to mortgage brokers almost certainly
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Oct 1, 2015 03:34
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Q: I am a single, 73-year-old pensioner. I am thinking about buying a second house to allow my relatives live in it rent free. They kindly did the same for my family many years ago and are now struggling to pay their rent. Is it a requirement of Centrelink to charge them rent? A: Net income from real estate (after allowable deductions) is assessable income for social security purposes. However, there is no requirement that a person use their property to produce income. If no money is received from a property, then no income is taken into account. However, the net value of the property would be included in the customer’s assets test. If they gave the property to somebody else, then the value (less up to $10,000) would be assessed as a deemed asset for five years and would fall under both the income test and the assets test. http://www.brisbanetimes.com.au/money/ask-an-expert/can-i-buy-my-reloes-a-home-20150922-gjsk3s.html
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Oct 1, 2015 03:39
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Jumpingmanjim posted:Q: I am a single, 73-year-old pensioner. I am thinking about buying a second house to allow my relatives live in it rent free. The value of a property you own is a countable asset for a means test for Australia's social retirement pension system, is there something else I should be taking from this
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Oct 1, 2015 04:03
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Yeah I'm not sure I understand the significance of what you're saying. Are they modifying your payment post-retirement because you're gaining income? At least in the US, welfare and disability aid works that way but not SS retirement as far as I know. So maybe you can explain what we're missing here if superannuation is different
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Oct 1, 2015 04:11
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Not reading the fine print on your "Student Loan Forgiveness Program" when you graduated with your law degree = BWM, and bad with comprehension https://www.ksl.com/?sid=36763394&nid=148&fm=most_popular&s_cid=article_popular-4 quote:When Mike Long finished his undergraduate degree, masters and law degree at BYU, he walked away with plenty of debt. According to Equifax, the average student loan debt totals $29,000, and Long owes twice that. TL; DR Dude takes out loans for undergrad and post graduate degrees, becomes lawyer and accepts crappy state job hoping for that sweet loan forgiveness only to learn that he took out the wrong kinds of loans that qualify for forgiveness. He expects this to end up costing him $6,000 in the long run  and is petitioning the White House over this
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Oct 1, 2015 17:19
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Man if only he paid off his ~$60000 loan with two years worth of big law salary savings???
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Oct 1, 2015 17:21
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Cry me a loving river you baby, maybe skip a vacation or two and you'll be fine. Crying over $6,000 
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Oct 1, 2015 17:43
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He's writing an angry letter because his 60k undergrad + doctoral debt wasn't forgiven. meanwhile the rest of us not -1 std dev for loan burden and doctoral degrees...
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Oct 1, 2015 18:18
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Going to BYU is good with money if you're LDS. Off campus housing is cheap, tuition is $5k/year for undergrad. Law school tuition is $12k/yr. Scholarships and grants for both are plentiful. I paid $5k/year for classes at a community college, and $12k/yr for undergrad in-state tuition at a university. My MBA costs $26k/year  It's a vision of what tuition at state universities could look like if they were properly subsidized by public funds. 
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Oct 1, 2015 18:57
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Don't you have any sympathy for the guy who made a career choice in government based on student loan forgiveness, acted in good faith, and then discovered 5 years later his loans didn't qualify for PSLF on technical grounds? Whether you think attorneys and doctors should benefit from PSLF is a valid question of policy but it isn't fair that this guy had the rug pulled out from under him.
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Oct 1, 2015 19:02
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BEHOLD: MY CAPE posted:Don't you have any sympathy for the guy who made a career choice in government based on student loan forgiveness, acted in good faith, and then discovered 5 years later his loans didn't qualify for PSLF on technical grounds? Whether you think attorneys and doctors should benefit from PSLF is a valid question of policy but it isn't fair that this guy had the rug pulled out from under him. Yeah it seems pretty poo poo to me. I think he should have gone to work for a high-paying firm instead, he either screwed up the math or genuinely desired to help people (if he's a public defender), and it's especially poo poo if someone in the latter case got screwed over.
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Oct 1, 2015 19:08
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You'd think that as a lawyer human being he would a) know enough to read the fine print and b) know some tax and finance law humans that could help him understand his poo poo.
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Oct 1, 2015 19:16
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I'm wondering how many people on ibr are going to find out in 2017-2018 that their loans aren't being forgiven through pslf and freak out.
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Oct 1, 2015 19:35
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BEHOLD: MY CAPE posted:Don't you have any sympathy for the guy who made a career choice in government based on student loan forgiveness, acted in good faith, and then discovered 5 years later his loans didn't qualify for PSLF on technical grounds? Whether you think attorneys and doctors should benefit from PSLF is a valid question of policy but it isn't fair that this guy had the rug pulled out from under him. No, because he didn't do his homework and figure it out; they didn't change the rules he just didn't read them. I mean, he's a loving lawyer. I'm sorry, but technicalities matter. It's six grand, it's absolutely nothing in the grand scheme of things. He can pick up a minimum wage night job for 10 hours a week and make that 6 grand back in less than 2 years. If he was my lawyer and I found out he didn't figure this out while he was in law school, I would fire him in a second. How can you trust him to accurately research case law? Nail Rat fucked around with this message at 19:44 on Oct 1, 2015 |
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Oct 1, 2015 19:40
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Nail Rat posted:No, because he didn't do his homework and figure it out; they didn't change the rules he just didn't read them. I mean, he's a loving lawyer. I'm sorry, but technicalities matter. It's six grand, it's absolutely nothing in the grand scheme of things. He can pick up a minimum wage night job for 10 hours a week and make that 6 grand back in less than 2 years. It's actually a lot more than 6000 because it's also the opportunity cost of not working for a lucrative big law firm where he would have made way more money to begin with. The message it sends is "gently caress you for providing a public service".
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Oct 1, 2015 20:00
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Jeffrey of YOSPOS posted:It's actually a lot more than 6000 because it's also the opportunity cost of not working for a lucrative big law firm where he would have made way more money to begin with. The message it sends is "gently caress you for providing a public service". Again: they didn't change the rules on the loans, he just didn't bother to understand them. If he does his research that poorly, I don't think he's cut out for big law anyhow, so I see the point as moot. There are a LOT of lawyers hungry for not many jobs, I find it hard to believe someone with such poor attention to detail would've beaten out everyone else. I'm a pretty big bleeding heart liberal, pro-labor and all but sorry, I can't get behind a pity train for this guy, he's BWM and dumb and probably a bad lawyer. Hopefully he learns from this and gets better and less dumb. Nail Rat fucked around with this message at 20:10 on Oct 1, 2015 |
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Oct 1, 2015 20:06
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Nail Rat posted:Again: they didn't change the rules on the loans, he just didn't bother to understand them. If he does his research that poorly, I don't think he's cut out for big law anyhow, so I see the point as moot. There are a LOT of lawyers hungry for not many jobs, I find it hard to believe someone with such poor attention to detail would've beaten out everyone else.
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Oct 1, 2015 20:12
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mastershakeman posted:I'm wondering how many people on ibr are going to find out in 2017-2018 that their loans aren't being forgiven through pslf and freak out. Wait, is this a thing?  I have all unconsolidated stafford/grad plus loans serviced through Nelnet on Pay-as-you-Earn, and my hope is for the 10 year forgiveness. I read through all the fine print and it seemed to me that my loans qualified, but am I mistaken?
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Oct 1, 2015 20:14
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canyoneer posted:Going to BYU is good with money if you're LDS. Off campus housing is cheap, tuition is $5k/year for undergrad. Law school tuition is $12k/yr. Scholarships and grants for both are plentiful. It is true. I am LDS and a Salt Lake native/resident but personally I don't have any desire to attend BYU. No denying that the school is a great value and have a very well respected MBA program and churns out very competent lawyers. BEHOLD: MY CAPE posted:Don't you have any sympathy for the guy who made a career choice in government based on student loan forgiveness, acted in good faith, and then discovered 5 years later his loans didn't qualify for PSLF on technical grounds? Whether you think attorneys and doctors should benefit from PSLF is a valid question of policy but it isn't fair that this guy had the rug pulled out from under him. Yes and no. He didn't consolidate his loans into the required type to qualify for loan forgiveness. This was likely due to student loans being a bit confusing; BUT you shouldn't sign yourself into thousands of dollars of debt if you don't understand it as a full consenting adult. Many people, including myself, have made mistakes that had more zeroes attached to the end of it.
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Oct 1, 2015 20:17
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Nail Rat posted:Again: they didn't change the rules on the loans, he just didn't bother to understand them. If he does his research that poorly, I don't think he's cut out for big law anyhow, so I see the point as moot. There are a LOT of lawyers hungry for not many jobs, I find it hard to believe someone with such poor attention to detail would've beaten out everyone else. If this happened to a nurse or a school teacher would you think it was fair or unfair, or is it specifically because he is an attorney that you think he deserves to suffer from this particular non-obvious tripwire built into PSLF?
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Oct 1, 2015 20:38
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BEHOLD: MY CAPE posted:If this happened to a nurse or a school teacher would you think it was fair or unfair, or is it specifically because he is an attorney that you think he deserves to suffer from this particular non-obvious tripwire built into PSLF? if you're making a 5 year life plan around a government program I would say you should know what you're getting in to.
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Oct 1, 2015 20:44
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Jeffrey of YOSPOS posted:I don't really care about the individual dude, I care about the rules, which in their current form are punishing people for not parsing minutiae. Right now I think it's probably good advice to say "skip the public service job and go into industry for more money, there's a high risk of missing a detail and not getting the loan forgiveness anyway". I think public service jobs are cool and we should incentivize people into taking them, and the rules being as they are hampers that. woah hey look at this goalpost that came all the way over to me to say hi.
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Oct 1, 2015 20:49
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BEHOLD: MY CAPE posted:If this happened to a nurse or a school teacher would you think it was fair or unfair, or is it specifically because he is an attorney that you think he deserves to suffer from this particular non-obvious tripwire built into PSLF? It's fair to me no matter who it happened to, because you read the paperwork on financial agreements. It's just sillier coming from a lawyer because they are in a profession that is ALL ABOUT FINE PRINT.
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Oct 1, 2015 20:50
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Financial agreements can be arbitrarily complicated, to the point where even the best computer program couldn't parse them. Sure, it's easy to say "don't sign them then", but humans aren't rational actors and are subject to salesman tactics and being misled by those advising them, surely we can actually address and reduce that confusion rather than letting it be because "well it was written in text".
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Oct 1, 2015 20:52
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The lendee will receive their loans forgiven after 120 consecutive on-time payments*. *there will be a surcharge incurred of 1 million US dollars for each non-trivial zero of the riemann zeta function that does not have real part 1/2
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Oct 1, 2015 20:55
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Magic Underwear posted:if you're making a 5 year life plan around a government program I would say you should know what you're getting in to. This. This is the same as signing a mortgage or anything like that. You don't sign for something that costs tens of thousands of dollars without taking the time to understand it. Do you think dumb 22 year olds who buy 25k cars on 30k salaries should just get it forgiven because hey, they're a nice kid and they volunteer at the local homeless shelter? quote:surely we can actually address and reduce that confusion rather than letting it be because "well it was written in text". I can get behind "things should be explained more clearly in the future," just not "he should get his mistake erased because he didn't bother to understand where the 60k loan he took was coming from and what it would take to be gone." quote:Many people, including myself, have made mistakes that had more zeroes attached to the end of it. This, I made a mistake that cost me more than six times what this guy is going to lose due to a poor choice of a property to buy when I was 26. I'm paying for it, and chalking it up as a lesson. Nail Rat fucked around with this message at 21:07 on Oct 1, 2015 |
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Oct 1, 2015 21:02
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Nail Rat posted:Do you think dumb 22 year olds who buy 25k cars on 30k salaries should just get it forgiven because hey, they're a nice kid and they volunteer at the local homeless shelter? No, I think that people who sell 25k loans should not be allowed to trick people with 30k salaries into signing up for them. Regardless, right now they can just get it forgiven via bankruptcy, unlike student loans.
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Oct 1, 2015 21:30
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The dude got a loan to spend three years studying how to gently caress people over / not get hosed over. Literally three years of "here's how to read contracts and regulations." If you can't see the irony in that... I don't know what to tell you. It's the epitome of bad with money. He got a loan to acquire a skill, then failed to use it and now it's costing him money.
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Oct 1, 2015 22:35
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