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cowofwar posted:If pay schedule affects your life in any way then you are probably BWM. No emergency fund or inability to control spending leading to living paycheque to paycheque. Well sure. In my example it was starting a new job though. Depending on how long you were unemployed before getting a new job, waiting a month and a half for your first check can really loving suck. Back when I worked for AT&T they decided to change their payroll from getting paid current to getting paid in arrears. They picked the cutoff time for this in December and sent out emails saying 'oh don't worry, you'll still get paid the exact same thing as before, blah blah blah' except that short term - in December, when people usually spend a lot of money, you are actually losing a paycheck. And yes, we can all scoff at the poors who live paycheck-to-paycheck, but that is probably the worst time of the year to not pay your employees. It was essentially a reverse-Christmas bonus. And that missing check that they assured us we'd receive, well yeah - you get it 2 weeks after you leave the company. It's not like they gave you extra in January to make up for what they didn't pay you in December.
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Nov 25, 2015 18:03
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My company went from paying on the 15th and end of the month to paying weekly. The outrage from people getting paid less in months with 4 weeks was awesome (they didn't pay us less, people are bad at math). Oh, and they went to paying a week in arrears and that was a whole other shitstorm. Management said "we're going to pay you an extra week!" when what they really did was this: May 15th - paid $2000 May 31st - paid $2000 switch to paying a week in arrears June 6th - extra week of pay! $1700???? June 13th - paid $925 June 21st - paid $925 June 27th - paid $925 That "extra week" really threw people off. I guess they structured it as a bonus, so it was taxed differently and was somewhere between bi-monthly and weekly pay. The cries of "THEY GAVE US ALL PAY CUTS!" rang through the halls.
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Nov 25, 2015 18:27
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More Reddit chicanery. https://www.reddit.com/r/personalfinance/comments/3u6u2j/making_100k_and_still_getting_crushed_by_debt_help/ posted:Ok first of all let me say, yes I know I'm an idiot.
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Nov 25, 2015 18:40
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Oh my loving god the leases the private school the four kids before 30 holy poo poo oh my god
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Nov 25, 2015 18:52
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He has more money locked up in Bitcoins than in his savings account
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Nov 25, 2015 18:56
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Not a Children posted:More Reddit chicanery. He's 33 with four kids, two leased cars, $21k in credit card debt not counting his wife's "secret credit card", and they have almost no savings or assets besides supposed house equity of 75k. And he's been living paycheck to paycheck for eleven years. And if he'd been saving in a 401k $500/monthly (at a real cost of $300 considering taxes and possible employer match) for all that time he'd have $150k. Eh, I've seen worse.
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Nov 25, 2015 19:01
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Mocking Bird posted:Oh my loving god the leases the private school the four kids before 30 holy poo poo oh my god My advice? Consider suicide
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Nov 25, 2015 19:02
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I've had a slow week at work so naturally I turned to some internet Schadenfreude for entertainment. I had never read that whole GTAT thread over at thecontrarianinvestor. I feel bad for someone getting financially wiped out, but when it's due to betting it all on one stock...quote:This would be my last post on this forum. I am officially signing off. Thanks for all the contributions. I am still in shock and all the money is gone and I owe $107K in margin accounts. I have prepare my profit and loss for filing a case and here the final numbers. This is a lesson for everybody not to be greedy and stupid. These are just stocks, options of around $140K is not in there. Wow.
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Nov 25, 2015 19:05
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Mocking Bird posted:Oh my loving god the leases the private school the four kids before 30 holy poo poo oh my god
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Nov 25, 2015 19:06
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adamarama posted:Yet he seems most concerned about the 1200 a month on groceries. I mean, it's a little high but really, priorities! "Hmm, I'm a somewhat high earner with no savings, a bunch of consumer debt, and serious cash flow problems" *refinances to 15 year mortgage*
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Nov 25, 2015 19:45
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Clearly he's been wasting any excess income buying bitcoins. They need to turn down the thermostat, learn to mow their own loving lawn, and stop sending their kids to private school.
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Nov 25, 2015 19:45
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I'm pretty loving lazy, I have 4 kids, no free time, and skin that burns only slightly more slowly in the sun than a genuine albino. I'm not paying someone a hundred bucks a month to cut my loving grass. e: and don't lease a loving Honda. No Butt Stuff fucked around with this message at 19:55 on Nov 25, 2015 |
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Nov 25, 2015 19:53
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No Butt Stuff posted:I'm pretty loving lazy, I have 4 kids, no free time, and skin that burns only slightly more slowly in the sun than a genuine albino. Though, $100 looks like "alarm/lawn/etc" so it's probably only like 40 bucks for the lawn. Still not worth it.
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Nov 25, 2015 19:58
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Not a Children posted:More Reddit chicanery.
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Nov 25, 2015 20:20
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silvergoose posted:Though, $100 looks like "alarm/lawn/etc" so it's probably only like 40 bucks for the lawn. Still not worth it. I dunno, if I lived in an area where I felt the need to keep an alarm and send my kids to private school, I'd think about leaving that area for some place a little nicer, considering how much cash that would put back at my disposal when I'm not paying tuition for 4 kids. So then you can cut out the alarm payment too.
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Nov 25, 2015 20:34
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No Butt Stuff posted:Probably that they only have to process payroll once a month. Most receivables are also processed on a monthly basis (30/60/90 days net from a single invoice processing day) so it helps align income and expenses as well.
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Nov 25, 2015 20:36
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Alarm may be part of insurance discount, depending on his coverage he could net ahead.
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Nov 25, 2015 20:36
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Subjunctive posted:Alarm may be part of insurance discount, depending on his coverage he could net ahead. Probably right. You know, every time I feel down about not being able to have a large enough emergency fund or be able to contribute as much as I'd like to Savings, I see stories like that. And I know I could be so much worse. My personal BWM: Moving to a new city and making assumptions about local services and costs when making your budget. But hey, once I get a raise or the wife goes back to school, we'll be right as rain. Until then I just have to deal with watch the numbers on the balance sheet not increase.
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Nov 25, 2015 20:44
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I mean the real bad with money decision is squirting out 4 kids by 33, but we can't criticize that one because children are magical angels.  I appreciate the value in procreating, but having a kid is expensive, each one is expensive and if you don't evaluate it from an economic direction you'll end up unable to afford anything, financially stressed out, and divorcing your wife you humped 4 kids into.
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Nov 25, 2015 21:01
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quote:All I can wish is, all of family members of TG and the crooked directors face some grueling death. Yesterday I was in the verge of committing suicide myself and with a loving family, I didn't have the courage. Good bye to all. Time to start Life 2.0 Yeah it's TG's fault that guy is a habitual gambler and poor investor. He didn't even have the courage to leave his family a life insurance payout after a mysterious death. Truly a worthless husk of a human being.
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Nov 25, 2015 22:01
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lol: http://www.cnbc.com/2015/11/23/rich-dad-poor-dad-author-why-millennials-shouldnt-save.html Dude is seriously off his rocker. MrKatharsis fucked around with this message at 22:07 on Nov 25, 2015 |
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Nov 25, 2015 22:05
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MrKatharsis posted:lol: What a dumb piece of poo poo. Best part: "When I was a millennial..." That's not how it works, Robert.
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Nov 25, 2015 22:27
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He's not wrong insofar as if you still have lots of money to live comfortably, leveraging the historically low interest rates in intelligent, eventual-wealth-producing ways is GWM. He's a real estate guy through and through, and that's the lens he's looking through. I don't think he understands what it is to be young and poor during a recession. It's like he's shouting, "WHY AREN'T YOU MILLENNIALS ALL GETTING MORTGAGES INSTEAD OF GOING TO COLLEGE?" He's got a little goldbug paranoia in there too. EVERY MAJOR GOVERNMENT IS PRINTING CURRENCY!
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Nov 25, 2015 22:43
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No Butt Stuff posted:Probably that they only have to process payroll once a month. From a business process point of view it's because weekly payroll is often based on timesheets, which is something you really don't want piling up on the payroll staff to do once a month. This is called positive pay, because each pay run has to be positively confirmed before something happens. Salaried (monthly) employees are on what's called negative pay, because unless there's a reason to not pay them or deduct something, they will get their salary at the end of the month. It's a lot lighter on admin as you can probably guess. edit: that weekly paid staff are usually lower earners and in need of easier planning may or may not just be a happy coincidence My PIN is 4826 fucked around with this message at 22:46 on Nov 25, 2015 |
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Nov 25, 2015 22:44
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Inverse Icarus posted:He's not wrong insofar as if you still have lots of money to live comfortably, leveraging the historically low interest rates in intelligent, eventual-wealth-producing ways is GWM. He's a real estate guy through and through, and that's the lens he's looking through. I don't think he understands what it is to be young and poor during a recession. It's like he's shouting, "WHY AREN'T YOU MILLENNIALS ALL GETTING MORTGAGES INSTEAD OF GOING TO COLLEGE?" http://johntreed.com/blogs/john-t-r...poor-dad-part-1
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Nov 25, 2015 23:00
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Inverse Icarus posted:He's not wrong insofar as if you still have lots of money to live comfortably, leveraging the historically low interest rates in intelligent, eventual-wealth-producing ways is GWM. He's a real estate guy through and through, and that's the lens he's looking through. I don't think he understands what it is to be young and poor during a recession. It's like he's shouting, "WHY AREN'T YOU MILLENNIALS ALL GETTING MORTGAGES INSTEAD OF GOING TO COLLEGE?" Robert Kiyosaki is a giant idiot for saying the rich are getting poorer, it's not opposite day. He doesn't understand how hard it is to save (be a loser in his own words) for a house when the prices are inflating so much. He's long since forgotten what it's like to start with no equity, and of course he never had to deal with student loans/not getting a job because of degree inflation.
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Nov 25, 2015 23:09
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Kiyosaki's shrewdest financial move was--and remains to this day--building a self-help empire of books and seminars that separate rubes from their money vvvv lol jesus christ pig slut lisa fucked around with this message at 00:21 on Nov 26, 2015 |
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Nov 25, 2015 23:35
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Not a Children posted:More Reddit chicanery. https://www.reddit.com/user/AvireXerivA?count=50&after=t1_cwgijsz Reddit is the best. The guy's comment history is pretty much exclusively posting comments cooing at women and men in r/rateme and r/amiugly telling them how pretty they are. 
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Nov 26, 2015 00:02
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canyoneer posted:https://www.reddit.com/user/AvireXerivA?count=50&after=t1_cwgijsz And his bitcoin mining rig, lmao. Apparently he used to drive a BMW, replaced it with a BWM lease.
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Nov 26, 2015 00:24
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http://kdvr.com/2015/11/24/problem-solvers-investigate-free-money-offer-on-craigs-list/ Man promises free money via Craigslist in exchange for all personal information. Many people heed his call. Unsurprisingly, they don't get free money. quote:"I didn’t think we were going to get duped because we were all there because we were in a financial bind.” 
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Nov 26, 2015 00:57
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Pompous Rhombus posted:And his bitcoin mining rig, lmao.
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Nov 26, 2015 02:08
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Barry posted:I've had a slow week at work so naturally I turned to some internet Schadenfreude for entertainment. I had never read that whole GTAT thread over at thecontrarianinvestor. I feel bad for someone getting financially wiped out, but when it's due to betting it all on one stock... There was one that made me a little  - a 51 year old lady whose advisor talked her out of selling to lock in decent gains to chase this sure thing (after selling a garbage single stock plan). Of course she lost it all. And she is the single parent of a special needs teenager, and that money was supposed to be her retirement / his medical trust fund. She had to sell her house and most of her stuff because of it and is now trying to find employment anywhere possible. The post history is really sad. at p much everyone else thoe. O poo poo, almost quoted instead of edit. Guest2553 fucked around with this message at 03:55 on Nov 26, 2015 |
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Nov 26, 2015 03:51
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Guest2553 posted:There was one that made me a little There was one post the day of the iPhone 6 announcement where a guy joked how he wasn't going to be able to watch the keynote because his mom was taking him out for a celebratory lunch. Boy. That lunch probably got real awkward about halfway through. It sucks for the older investors because there's not enough time to learn from their mistake and the losses affect innocent family members. But man, if you ever needed an example for greed.txt, that thread is it. Speaking of greedy people wasting others' money, does anyone remember that guy who took both his inheritance and his sister's and bet it all on Bitcoin? Was there ever an update to that?
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Nov 26, 2015 06:13
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Krispy Kareem posted:There was one post the day of the iPhone 6 announcement where a guy joked how he wasn't going to be able to watch the keynote because his mom was taking him out for a celebratory lunch. Boy. That lunch probably got real awkward about halfway through. http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc
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Nov 26, 2015 07:33
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canyoneer posted:https://www.reddit.com/user/AvireXerivA?count=50&after=t1_cwgijsz Wow those are loving sad subreddits...
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Nov 26, 2015 08:18
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bartlebyshop posted:http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc Reading that again it is clear how delusional the guy is. How sad
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Nov 26, 2015 16:35
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poo poo, that dude would have made over 100k in just a boring index fund from Nov 2012 to now.
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Nov 26, 2015 16:45
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Speaking of the guy who spent his money on bitcoin, Ive always wondered if the rumors were true on you not being able to liquidate bitcoin once you bought it, like a regular stock, despite it having a high value at the time? Would have buying bitcoin at 100,200,or 300 not have guaranteed you the ability to sell it at 400,500,600? Basically, was Bitcoin not really a trade-able commodity but something you could only buy into ? Is that why it was seen as so bad, strictly from a short time speculative standpoint.
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Nov 26, 2015 17:55
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LolitaSama posted:Speaking of the guy who spent his money on bitcoin, Ive always wondered if the rumors were true on you not being able to liquidate bitcoin once you bought it, like a regular stock, despite it having a high value at the time? Would have buying bitcoin at 100,200,or 300 not have guaranteed you the ability to sell it at 400,500,600? Most, if not all of those high prices were due to a bot manipulating the price of bitcoin on the largest marketplace at the time. There wasn't, and isn't afaik a good way to sell them. Not to mention that you can't really do anything other than buy drugs or child porn with them anyway. Oh and there are a poo poo load of hackers and scammers too.
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Nov 26, 2015 18:04
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There's at least one casino in Vegas where you can gamble with bitcoins 
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Nov 26, 2015 18:10
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