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Knyteguy posted:What? Literally the only borrowing is a $500 tax return, which I've already completed and I know what I'm getting. That's not true. You are borrowing from your tax return and from your March budget. Why do you need the rush of paying this off earlier than you budgeted? What is so critical that you need to dip into your emergency fund to write a debt repayment check earlier? Sit down and look at your own motivations for doing this, I'd wager they aren't too different from when you splurged on a PS4 or an Oculus, or a gaming PC and car. You have a habit of deciding you really want to do something right now and you convince yourself that you'll make it work in the end. How many times have you said "it's cool, we'll make up for it next month"? edit: just saw your second edit, quote:Argh here: So now you have borrowed an entire debt payment from your emergency fund?
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Feb 4, 2016 06:12
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bringer posted:That's not true. You are borrowing from your tax return and from your March budget. No regarding your last paragraph. I'm just no longer saving a month ahead on the principal debt repayment category, because really that doesn't even make much sense to be a month ahead on. It's not even required by ynab. We already have this debt repayment in the bank allocated towards debt repayment, less the tax return which will be here shortly. The emergency fund dipping is different; I'm not dipping into it because of this payment - it would have had to happen anyway. Geico really dropped the ball on something that I'll go into later when the ordeal is finished, and I screwed up by not double checking something. The damage will be small, so it's mostly just a hassle. I've already started to mitigate the damage from non emergency fund areas of the budget, also.* I did a poor job communicating my thought process regarding the debt payment, so I believe that's the reason for the "what the helling". I'm gonna end it here. I believe we're on the right track, and I think that this was a good move. I just didn't communicate what the situation was, and what I was doing very well. Edit *potentially dipping into the emergency fund. I'll do my best to fund it from elsewhere, but I don't want elsewhere to be our debt repayment funds if at all possible. That's what I was trying to say a few posts ago. Knyteguy fucked around with this message at 07:41 on Feb 4, 2016 |
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Feb 4, 2016 07:02
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I actually agree with KG. He has all of his non-debt monthly expenses covered for March, he has his emergency fund. He's basically just saying "I have this money in my checking account now, that is earmarked for March debt. I'll pay it now instead." I don't think there will be any adverse affects. I'm more concerned with the tax return line; why are you worried you might be audited? Just do your taxes correctly and honestly and you don't get audited.
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Feb 4, 2016 13:30
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If it is unallocated money that is fine but how many times has he gone over in so many categories? Very often. He must likely will need that money for those overages.
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Feb 4, 2016 14:25
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spwrozek posted:If it is unallocated money that is fine but how many times has he gone over in so many categories? Very often. He must likely will need that money for those overages. That's a fair point. I guess I mean it would be a good idea if he can stay within budget everywhere else.
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Feb 4, 2016 14:40
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e: answered in a reply I hadn't seen yet
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Feb 4, 2016 14:52
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Dale Sveum posted:I actually agree with KG. He has all of his non-debt monthly expenses covered for March, he has his emergency fund. He's basically just saying "I have this money in my checking account now, that is earmarked for March debt. I'll pay it now instead." He doesn't really, though. He threw out that his dog might need surgery but might not so he needs to keep an e-fund available in case his plan of "freelance" doesn't give him the money by the time he needs it.
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Feb 4, 2016 15:13
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detectivemonkey posted:He doesn't really, though. He threw out that his dog might need surgery but might not so he needs to keep an e-fund available in case his plan of "freelance" doesn't give him the money by the time he needs it. Right now regardless of surgery/potentially before surgery our dog needs to lose weight. There's a timeframe on this that is in the near future, but still probably 6-12 months away. She may not need surgery, and if she does we have options. I have a plan here. I promised that I will take care of my dog, and I will. Anyway I'm very surprised this is even close to a point of contention. This is all budgeted funds. Never thought I'd be chided for putting a historically high number towards debt  . Guys we're not underwater on our car loan anymore, that's huge. Or at least we're close. March for sure. We also pushed our debt free date up.
Knyteguy fucked around with this message at 15:47 on Feb 4, 2016 |
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Feb 4, 2016 15:44
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I think it's great that you want to stuff a bunch of money into your car payment. That said, you shouldn't be using your crazy shell game antics to do it. Why not just plan ahead and budget for these balloon payments? Can't you just explain this Geico thing in less words than the words you've spent dancing around it? In other news: http://www.theatlantic.com/education/archive/2016/02/reno-is-gambling-it-all-on-tech/459807/?utm_source=SFFB
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Feb 4, 2016 15:49
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bringer posted:Why do you need the rush of paying this off earlier than you budgeted? What is so critical that you need to dip into your emergency fund to write a debt repayment check earlier? Wanted to hit these. I don't need the rush, and I was kind of joking about a paying debt rush. It's motivating, but there was no rush of endorphins there. I'm happy about it, but only. Plus it's just cool to write one $2800 debt check compared to 2 or 3 smaller ones. I was budgeting my paycheck for March when I realized this could be done on budget. That's it. I think everyone may be getting the wrong idea here, likely because of how I presented it. Audit stuff: I'm only worried because of the home office deduction. I do conduct business out of my office, but that always worries me.
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Feb 4, 2016 15:56
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Knyteguy posted:Right now regardless of surgery/potentially before surgery our dog needs to lose weight. There's a timeframe on this that is in the near future, but still probably 6-12 months away. She may not need surgery, and if she does we have options. I have a plan here. I promised that I will take care of my dog, and I will. I'm sure you meant to add that for those 6-12 months, you were going to save up for a potential surgery, right? Because how stupid would you be not to?
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Feb 4, 2016 16:10
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n8r posted:I think it's great that you want to stuff a bunch of money into your car payment. That said, you shouldn't be using your crazy shell game antics to do it. Why not just plan ahead and budget for these balloon payments? Great news on the article. I'll read it all shortly. GEICO ok I'm phone posting sick in bed today, so I have some free time. They stupidly thought we moved to San Diego because we requested a quote when we were thinking of moving there for that job. I told them no we were just researching the financials of a move. They asked us for proof of residency, which we faxed to them on 12/17/2015 and I have a record of such. They say they never received it and cancelled our policy without even letting us know. It's my fault for not double checking the reception of the document. We were out of town the next day and I considered it handled. I'm just dealing with the fallout of that. I don't know exactly what exactly will happen, but I may need to pay a fee to the dmv for letting that lapse. That may not happen though, if I handle it in a way I have before. I'll know more in the coming days. I obviously immediately signed up for car insurance again last night. I'll know more Saturday when I go to the dmv. Knyteguy fucked around with this message at 16:32 on Feb 4, 2016 |
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Feb 4, 2016 16:18
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foxatee posted:I'm sure you meant to add that for those 6-12 months, you were going to save up for a potential surgery, right? Because how stupid would you be not to? Yes. I obviously want to pay for this in full. I'll talk to you guys more about it in the coming few weeks. As I said I do have a plan. My plan involves getting this car out from underneath the loan. We can now refinance which will free up some money that's going towards interest currently. But I also wanted to talk about that with the thread to get some input. Edit actually I have like 3 plans for the dog. I'll post when I decide which one we go with. Knyteguy fucked around with this message at 16:40 on Feb 4, 2016 |
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Feb 4, 2016 16:23
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Knyteguy posted:Wanted to hit these. I don't need the rush, and I was kind of joking about a paying debt rush. It's motivating, but there was no rush of endorphins there. I'm happy about it, but only. I don't think you're necessarily conscious of what your real motivations are. This is indeed better behavior than blowing money on frivolous things you suddenly decided that you need, but the pattern--deviating from the plan, taking an unnecessary (if small) risk, playing with money that you don't really have, and putting more weight on emotional satisfaction than on a rational analysis of the best course of action--is the same. It's not the healthiest way to approach your finances. And what are you doing to get this money back from Geico? I would think any calls where service is canceled would be recorded and saved for a while, so if this was a misunderstanding it should be cleared up quickly. Companies also tend to fold once you (politely) threaten to take your business elsewhere.
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Feb 4, 2016 18:06
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Why would you go to the DMV? In all states I have lived in you only show insurance when you register it. Why would you go tell someone you accidentally didn't have insurance?!?
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Feb 4, 2016 18:42
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spwrozek posted:Why would you go to the DMV? In all states I have lived in you only show insurance when you register it. Why would you go tell someone you accidentally didn't have insurance?!?
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Feb 4, 2016 19:06
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I'd also be worried about the loan on the car, I think they get notified as well, and generally then in some cases write their own policy to protect their interests. (Especially since you're required to carry full coverage). So you've been without insurance for 1.5 months, and are still comfortable drawing down emergency/month ahead funds. The slight money you'd save in interest pales in comparison to having that extra cash. Especially when these things seem to keep happening to you. Edit: Even if you end up not paying anything, think about what could have happened (pulled over and car towed, got into an accident and having to pay fines plus damage repair and still pay your loan, etc). Things like this can happen to everyone, but they seem to happen to you at quite a bit higher rate than is normal. MrEnigma fucked around with this message at 19:34 on Feb 4, 2016 |
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Feb 4, 2016 19:32
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n8r posted:I think it's great that you want to stuff a bunch of money into your car payment. That said, you shouldn't be using your crazy shell game antics to do it. Why not just plan ahead and budget for these balloon payments? Over the last literally "more than two years", I've been trained to get suspicious and wary when I hear "we're going to take some money from this future budget, and shuffle around some numbers in the next month's budget, and really this part is under so we're going to take the money from there, oh and we'll be getting a tax return, we're sure of it even though it hasn't hit the account yet, so we'll just take that money too, and put it here... and in short, I'm doing it now." It just never seems to go well so my knee-jerk reaction when I hear "I'm pulling from multiple future budget things" is "you probably shouldn't".
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Feb 4, 2016 23:45
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Knyteguy posted:Edit: gonna do $2800 just to play it a little more safe actually.
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Feb 5, 2016 01:49
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Knyteguy posted:Wanted to hit these. I don't need the rush, and I was kind of joking about a paying debt rush. It's motivating, but there was no rush of endorphins there. I'm happy about it, but only. Knyteguy posted:Great news on the article. I'll read it all shortly. My Rhythmic Crotch posted:Whoa pump the brakes there chief. You just got done making a debt-free date estimation of Aug 2017 by paying $1300/mo. Just pay the $1300 now and call it good. You're making a bunch of basic mistakes: the tax refund isn't here yet, the car insurance needs to be re-upped, the dog might need medical attention, etc. Just too many risky things coming down the pipe to say "ah it'll be fine".
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Feb 5, 2016 06:38
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KG&geico is KG& the apartment lease break all over again. You need to make sure you cross your t's and dot your lower case j's with byzantine organizations, dude.
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Feb 5, 2016 13:46
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If you cannot reliably secure and maintain automobile insurance, maybe you should not try to play clever games with writing big debt payoff checks with money you don't have yet.
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Feb 5, 2016 16:37
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I glossed over the debt repayment stuff because it's already getting hit, but you mentioned quitting smoking being expensive- do you have a Nevada chapter of project filter? I don't know if it's just an Idaho thing but they advertise it like crazy here. You can get 8weeks of quitting supplies for free.
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Feb 5, 2016 19:41
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They want you to take the home office deduction if it's applicable - they recently made it simpler. Doubt they'd be doing that if it were a giant red flag or something they didn't like. I wouldn't stress over it.
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Feb 6, 2016 01:27
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Guys, he's totally getting a huge bonus in May. That will cover the dog surgery. It's cool, he has a plan.
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Feb 6, 2016 02:38
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Old Fart posted:Guys, he's totally getting a huge bonus in May. That will cover the dog surgery. It's cool, he has a plan. You mean "he's freelancing, he'll just come up with $6000 that way". ... I can't actually tell which of those is more likely to have something come up that prevents it from happening.
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Feb 6, 2016 02:48
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Still sick and phone posting. Came down with the flu and had a 102 fever for the past two days. Looking back in retrospect, yes I probably should have waited to make the additional $1700 debt payment, but only because it did veer from the plan. It wasn't borrowed money either. Also, at the current rate, assuming $1300/mo is viable after not accounting for insurance for the past 1.5 months, we will have the car paid off before the end of the year. If it comes down to it then after the car is ours, then we have an additional $1810 per month to cover the dog's surgery. We would need about $3000 to cover the first leg, and then a few months later another $3000. Regarding my ambitions to freelance: Are you guys always so negative? drat. I'd encourage someone 100% who wanted to try to make that jump. I definitely wouldn't talk down to them about it, and say oh yeah that will never happen. As of now we have priorities, and $3000 for a cpa, lawyer, business setup, a standard contract, and business insurance isn't the forefront of our priorities. When I figure out how to include those plans into the budget, then you'll hear more. It may be after we're out if debt; I don't know.
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Feb 6, 2016 03:54
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They're probably negative because its like, if you're going to freelance, why is the dog surgery what got the fire under your rear end and not all the debt? Also you might want to hold off forecasting that the car "will be paid off by the end of the year" after only making one big payment edit: why can't you take the money you make from your existing businesses and put it towards saving up for the dog stuff? Could you do any more work in those areas to make a little more extra cash? That way you're not trying to scrape together the $3k to startup the new thing My Rhythmic Crotch fucked around with this message at 04:10 on Feb 6, 2016 |
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Feb 6, 2016 04:08
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My Rhythmic Crotch posted:They're probably negative because its like, if you're going to freelance, why is the dog surgery what got the fire under your rear end and not all the debt? Re: Freelancing - the dog isn't what lit a fire under my rear end... It was the job hunt. My intention with the car statement is more of a "could" than a "will be." My initial August 2017 is the current debt payoff date. I don't think I can make more money with the business besides the roughly $949 I made from hosting last year. I have absolutely nothing setup to host more websites currently. I'm running a nearly obsolete CentOS version at the moment, even. Plus hosting support is hell as a single operator owner. I used to spend 10s of hours a month individually on customers paying $4.95/mo. Edit: I can put the slight profits towards the dog stuff, yes. I actually used a portion of business income this month to pay for the car insurance. Edit 2: I'll get to some previous stuff when I'm feeling better and on a pc. Knyteguy fucked around with this message at 04:30 on Feb 6, 2016 |
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Feb 6, 2016 04:17
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It's not that people don't think you can freelance. It's that you're once again counting your chickens before they hatch. If you said "I'm going to freelance and use that money to make extra debt payments," everyone would be fine with that. The problem is you keep making assumptions and then basing all your plans around them even though any number of things might come up. What if you hate freelancing? What if a project ends up paying less than you were hoping it would? What if you have a bad month or something and no one has work for you? What if the kid turns out to be more rowdy than normal and you can't freelance as much as you expected because you're caring for him instead? What if you have a bunch of interviews/self-study/some other project, and you just don't get around to setting it up? It's like when Tuyop said, "I have 100% job security, I don't have to worry about it" and then got hurt and had to be medically discharged or whatever, and THEN decided that he hated whatever other desk job he got after that, or when DogsCantBudget said "I don't have to cut down my spending or save up an emergency fund; I have excellent job security," and then his wife lost her job and then he lost his job. Don't rely on something you don't currently have.
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Feb 6, 2016 05:21
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Horking Delight posted:It's like when Tuyop said, "I have 100% job security, I don't have to worry about it" and then got hurt and had to be medically discharged or whatever, and THEN decided that he hated whatever other desk job he got after that To be fair, Tuyop was completely right about it. His job protection was effectively guaranteed by law, and he is right to trust in it. Moreover, if I recall correctly, he willingly chose the medical discharge in lien of a desk-bound military assignation. And said medical discharge came along with a sizable sum.
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Feb 6, 2016 06:54
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Horking Delight posted:
Not to derail...but I did end up making an emergency fund...and including some other funds we have over 30k saved up(sorry KG just wanted to defend myself...)
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Feb 6, 2016 15:21
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Reading this thread always makes me ponder the fact that my parents probably could have paid for me to go to summer camps or college of we didn't have 5 dogs.
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Feb 7, 2016 01:04
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Knyteguy posted:I used to spend 10s of hours a month individually on customers paying $4.95/mo.
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Feb 7, 2016 01:25
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John Smith posted:To be fair, Tuyop was completely right about it. His job protection was effectively guaranteed by law, and he is right to trust in it. I agree that he had job protection but I disagree that he was right to trust that he would always have at least that much income from the job. Things change! Things did change, for him -- not just the injury, but the fact that he decided he wanted out of the military entirely and wanted a complete career change, in conjunction with "now that I have to go through the beauracracy, stuff like disability payments and poo poo are being weird and not paying the correct amount so I have to appeal them". I didn't remember that the medical discharge came with a payout though, so thanks for that correction. That does matter. And DogsCantBudget, sorry, I wasn't trying to just randomly poo poo on you and it's really good that you ended up making an emergency fund. I hope your job hunt is going well. (Anyways, the point I'm just trying to make is "things change". If you know something is going to cost $ in the future, you should start planning for it now and not rely on "my future self will take care of it".)
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Feb 7, 2016 02:03
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Horking Delight posted:I agree that he had job protection but I disagree that he was right to trust that he would always have at least that much income from the job. Things change! Things did change, for him -- not just the injury, but the fact that he decided he wanted out of the military entirely and wanted a complete career change, in conjunction with "now that I have to go through the beauracracy, stuff like disability payments and poo poo are being weird and not paying the correct amount so I have to appeal them". My point is that his government didn't let him down. He willingly *chose* to exit the military. Sometimes, you really do have an asset (job, in this case) that is effectively risk-free, and it is entirely reasonable to act as such. Admittedly most people do not, but some people really do.
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Feb 7, 2016 03:34
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Noone is being negative, they are bursting your delusional balloon. Your delusion is that you will be fine if the dog needs surgery because in the future you will do some thing that will work out fine to cover the cost. This is delusional because of all the risks involved with the return on your postulate, e.g. you can't bill the rate you think you can, you can't sustain the motivation to freelance, some client stiffs you your entire bill. It's also delusional because you have not consistently used the kind of budgeting discipline you need to get out of debt, and working more hours will wear down what self discipline you have. Freelancing is not a good way to improve your financial situation if you impulsively blow another $3k on a gaming computer that "You deserve because you've been working so many hours freelancing." There is a possibility that freelancing is a way to address your problems, but it is not a sure thing. You aren't applying any risk model in your prediction that it will fix your problems, and so your plan doesn't adequately create an expected value for freelancing. Being negative would be saying something like "You have not successfully gotten a better full time job after a year of looking, how are you going to secure clients who will pay your rates on time?"
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Feb 7, 2016 17:44
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Dwight Eisenhower posted:Noone is being negative, they are bursting your delusional balloon. My dog may need surgery. I'm not being delusional on an ultimately elective thing. I've said at least twice that I want to try conservative management (http://dogkneeinjury.com/conservative-management/ ) first. Freelancing is what I want to do instead of finding a new job. There was conversation about job security shortly above. Well I'm not of the same way. I've been laid off at inconvenient times, and my city was the #1 worst job economy in the country for a long time. In fact the only worthwhile money I made during the lovely recession was via freelancing. Like I did well enough to get my wife and I out of my parent's house into an apartment. But I'm diverging from my point. I'm not counting on freelancing. It's where I'm trying to move towards, because I trust myself more than I trust a company, but I don't intend to quit my job one day and then freelance my way into a Lamborghini overnight. Obviously there will be challenges, and I'm familiar with clients not paying. I've been trying to make it pretty clear that I'm not counting on this for anything. The dog's surgery is elective as I said, and she's already doing a lot better. It could easily be contingent on freelancing money. OK I'm done with that conversation guys. I'm being misunderstood if there's still questions about it after that big stupid paragraph I just wrote. Let's call it a failure of communication on my part and move on for the moment. My Rhythmic Crotch posted:Just curious what you were doing for them? For that much work, you probably could and should be charging a hell of a lot more, or marketing the service to businesses who would be happy to pay up Jeez it's been awhile. I believe some of it was conversions, like I'm pretty sure I did an Access to SQL conversion (but I'm not 100% sure). I also believe I did quite a few .NET framework site upgrades because I wasn't supplying legacy framework versions. I added a lot of custom features to that Enkompass panel at customer's requests. But really it's been awhile. Mostly it was just making client's sites work with what I was supplying since it was such a small niche. I obviously went a little above and beyond for a hosting provider, but I was trying to will that god drat company to success. It will probably always be a very large regret of mine that I didn't stick to my guns and keep it running for just another 6 months to see what happened. I don't know what of that is marketable, though? I mean a .net framework upgrade would be maybe a couple hundred dollars? Plus .net doesn't have near the customer base of say PHP. I was actually thinking of freelancing apps. I'm pretty much bleeding edge on my Universal Windows Platform knowledge, so all Windows devices are available (IoT, Xbox One, Windows 10 store, Windows Phone 10), and there's some Visual Studio tools that seem to allow some porting to Android and IOS. I also know an increasingly popular open source ecommerce solution like the back of my hand. I've worked with the code for probably 3,000-4,000 hours. I was thinking of offering custom plugins, or even coming up with some plugins or themes of my own and selling them on the solution's store, which has relatively slim pickings. Tigntink posted:Reading this thread always makes me ponder the fact that my parents probably could have paid for me to go to summer camps or college of we didn't have 5 dogs. I'd like to send my son to this music school: https://www.youtube.com/watch?v=mYKLvYGqaC0 It's unfortunate (for us) it's in Ohio. imabanana posted:They want you to take the home office deduction if it's applicable - they recently made it simpler. Doubt they'd be doing that if it were a giant red flag or something they didn't like. I wouldn't stress over it. Alright that's good to know. It was actually like $90-150 towards the return or something this time. Usually it might be a dollar or two. I just used Turbo Tax's "standard home office deduction" or something. Sigma: Nope no notice. I even re-signed up with Geico. Bah. They were the cheapest. savesthedayrocks posted:I glossed over the debt repayment stuff because it's already getting hit, but you mentioned quitting smoking being expensive- do you have a Nevada chapter of project filter? I don't know if it's just an Idaho thing but they advertise it like crazy here. You can get 8weeks of quitting supplies for free. Unfortunately I don't think so. It appears that that is an organization that is run by the Idaho government.
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Feb 8, 2016 21:11
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Had this info up above, but I thought it deserved its own spot. The DMV fine is $500. The DMV was automatically notified when our insurance lapsed, yes. I'll call them tomorrow and take care of it. I tried to handle it online but our DMV website is the biggest turd of a website I've ever seen. Here's how the budget has been changed to accommodate that, and my son's birthday party in two weeks ($100):   - Car balance has been updated in tracking. - Added a couple accounts for returns so I remember to do them, and so I know what exactly I'm working with. They're estimated on the lower side. - Added cash as an account so I don't spend the rest of it without accountability for it in the budget. I really don't want to talk about freelancing or job stuff or dog stuff at the moment. I'd really appreciate it if we can hold off on all of that until more is known. My number one concern with breaking the budget right now is smoking. I'm trying so hard, but I can't break it right now for some reason. I'll look into Chantrix or nicotine gum or something. I have bronchitis, and smoking with bronchitis before really hurt my recovery time by maybe two weeks. Same with vaping I'm in a bad spot.
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Feb 8, 2016 21:13
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If you're not willing to discuss your plans for your finances and career development in this the business, finance and careers forum, then you should close the thread and save everyone the hassle. You're off on a tangent again, flailing around and shuffling money from category to category and month to month, obfuscating your finances and generally spazzing out. You even talked about counting chickens with regards to your tax bill for fucks sake. We're not telling you to formulate a budget and stick to it for several months for shits and giggles here. It's fundamentally about developing the very basics of personal financial management so that you have habits that will see you on the straight and narrow for your future. Yet in the years that you've been posting here you've not managed to stick to a stable budget for a three month period. Not once.
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Feb 8, 2016 21:34
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