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Between the car payment, the car insurance and gas stations, he's spending $1100/month. Apparently this is after cutting down from 3packs/day to 1pack/day. That's a lot of flamin hot cheetos.
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Jul 18, 2016 22:03
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Eh, depends on where he's at. At eight bucks a pack, that's $250 on smokes if he's sucking down a pack a day. Also note pack a day smoker without health insurance or (one would assume) life insurance, and a small child.
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Jul 18, 2016 22:47
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Chicago is like $11-$12/pack, I'm sure Buffalo Grove is at least $8 or so.
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Jul 18, 2016 23:00
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Barry posted:Found this fella on reddit: Pretty sure $14/month banking fee could be ducked by switching banks. Like it's not the most important change, but it's got to be the best return on invested effort.
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Jul 18, 2016 23:03
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Leon Trotsky 2012 posted:My Great Aunt died recently and I had never even really met her. My Aunt and Uncle got about $130,000 in inheritance. I know you said they were already committed to this, but I'll share my experience. My brother died last September, and I was the beneficiary of a precious metals IRA worth $5900 in coins and $600 in cash. Not a huge sum, but it looked like something easy to take care of as the Executor. I started calling them in October, faxing and mailing and notarizing forms. Standard stuff. No response. Called a month later, trying not to be pushy, as things take time. I was then told that I would to have to hire a precious metals broker to liquidate the account. I didn't know what that was and was told to google it. I googled and all I saw was scam. Called again a few weeks later. I said there's got to be another way, and they said I could receive the coins "in kind" which meant send the drat coins to me. I requested this in writing. No response again, called again, there was no record of my previous calls or correspondence. Two more calls with the same response. By this time it was 2016, and I received a letter about storage fees for the coins. Angered, called again, and was told of course they would waive the storage fees and send me the coins, but would have to take out the shipping fees from the cash in the account. Fine. Received the coins. All dated 2015 and the same (he'd had this for many years). Obviously bought by them after I requested them. Whatever. Still had $490 in cash in the account. Called and asked for it, they said sure. Nothing again. Called again, no record of my previous calls. At this point it was getting laughable. They said they had to deduct the 2016 storage fees and processing fees and that there was $140 left. Got the check last week. I have yet to attempt to sell the coins, because I know it's going to piss me off.
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Jul 19, 2016 00:56
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Have you thought about lawyering up or calling the SEC?
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Jul 19, 2016 02:20
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No, it's not worth my time.
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Jul 19, 2016 02:24
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Calypso posted:I know you said they were already committed to this, but I'll share my experience. My brother died last September, and I was the beneficiary of a precious metals IRA worth $5900 in coins and $600 in cash. Not a huge sum, but it looked like something easy to take care of as the Executor. I started calling them in October, faxing and mailing and notarizing forms. Standard stuff. No response. Called a month later, trying not to be pushy, as things take time. I was then told that I would to have to hire a precious metals broker to liquidate the account. I didn't know what that was and was told to google it. Holy poo poo I knew gold/silver bugging was BWM but god drat.
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Jul 19, 2016 02:34
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Barry posted:Still seems like a bad idea, even with all the caveats. Oh, it's a bad idea. A very bad idea jeans. It's just not a complete disaster. I'm not going to talk the SO out of it, and it's really hard to argue with someone when that's what they want to do with their money and it's not really changing their lifestyle financially. I'm not sure if they're just blind to the potential social and emotional pitfalls, but *shrug* is about all I can respond with now.
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Jul 19, 2016 07:55
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Blinkman987 posted:Oh, it's a bad idea. A very bad idea jeans. It's just not a complete disaster. I'm not going to talk the SO out of it, and it's really hard to argue with someone when that's what they want to do with their money and it's not really changing their lifestyle financially. I'm not sure if they're just blind to the potential social and emotional pitfalls, but *shrug* is about all I can respond with now. Please post about the financial aspects your divorce proceedings in this forum when they eventually happen.
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Jul 19, 2016 14:02
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fits my needs posted:Please post about the financial aspects your divorce proceedings in this forum when they eventually happen. Hey, that's not fair. They could end up so financially tied together that they stick it out until the nursing home.
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Jul 19, 2016 14:13
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Blinkman987 posted:Oh, it's a bad idea. A very bad idea jeans. It's just not a complete disaster. I'm not going to talk the SO out of it, and it's really hard to argue with someone when that's what they want to do with their money and it's not really changing their lifestyle financially. I'm not sure if they're just blind to the potential social and emotional pitfalls, but *shrug* is about all I can respond with now. Your best option might be to try to convince your SO to make it a gift.
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Jul 19, 2016 14:42
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Teeter posted:He later clarifies in a comment that only $200 is spent on gas. Cigarettes are expensive. $300/mo is slightly over a pack a day habit in my area.
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Jul 19, 2016 16:19
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Barry posted:Between the car payment, the car insurance and gas stations, he's spending $1100/month. Apparently this is after cutting down from 3packs/day to 1pack/day. That's a lot of flamin hot cheetos. Monsters are always on a buy one promotion. It's fiscally irresponsible not to buy 2 at a time really. Source- me 3 years ago.
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Jul 19, 2016 16:34
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KYOON GRIFFEY JR posted:Cigarettes are expensive. $300/mo is slightly over a pack a day habit in my area.
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Jul 19, 2016 16:49
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I work at a 711 on weekend overnights (GWM as it's actually amazing pay, BWL as third shift messes with your health) and can almost guarantee part of that is scratch tickets.
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Jul 19, 2016 16:53
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Moneyball posted:I work at a 711 on weekend overnights (GWM as it's actually amazing pay, BWL as third shift messes with your health) and can almost guarantee part of that is scratch tickets. the saddest humblebrag
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Jul 19, 2016 17:58
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I like to think of more as face-saving as I'm not a fan of admitting that.
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Jul 19, 2016 18:43
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Moneyball posted:I work at a 711 on weekend overnights (GWM as it's actually amazing pay, BWL as third shift messes with your health) and can almost guarantee part of that is scratch tickets. Probably bought one after another, while someone behind him in line just wants a coffee.
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Jul 19, 2016 19:18
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savesthedayrocks posted:Monsters are always on a buy one promotion. It's fiscally irresponsible not to buy 2 at a time really. Though if you're going to drink that rat poison as quickly as some people like to, I guess it's GWM to get it for half price.
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Jul 19, 2016 19:29
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It came from Reddit :quote:Hi /r/personalfinance,
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Jul 20, 2016 17:07
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How in the gently caress did he rack up $200k of debt on just an undergraduate degree? 
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Jul 20, 2016 17:12
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Out of state cost to attend (including room and board, books, etc.) a lot of colleges is 50k a year or above. He did say he went to a "fancy" school. http://www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=1207 http://college-tuition.startclass.com/l/1332/University-of-Notre-Dame Nail Rat fucked around with this message at 17:42 on Jul 20, 2016 |
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Jul 20, 2016 17:39
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I thought GIS was a field you could make some actual money in? It sounds like maybe he should look at other jobs, too. His loans are still outrageous, but a reasonable income can't hurt.
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Jul 20, 2016 17:49
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Combine that with either not qualifying for aid & scholarships or not applying, and it's easy to see how he racked up that much debt. Needing that many parent PLUS loans should have been a clue that something was wrong(and his mom knew it, but went ahead with them anyway), but it's a bit late for that now.
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Jul 20, 2016 17:52
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why is that guy not looking for a new job
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Jul 20, 2016 17:53
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Also, if he's working a state job would any of that qualify for PSLF?
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Jul 20, 2016 17:53
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There is a gigantic recruiting push underway at nearly every american college for out of state and international students, they pay higher tuition generally and colleges are using this growing funding source as much as they can. What this means is that in state students are often being excluded in admissions even over less qualified international students, and that there is a huge amount of marketing and sales focused on out of staters and convincing them it's worth it. So we have a shitton of students spending insane amounts of money to study from another state or country, but not necessarily at top tier schools like Harvard, but every lovely state school and liberals arts college in town. So you spend an insane amount of money for a sociology degree from an ok but not really good school like, say, the University of Colorado and then hello student debt for life. It's a terrible, stupid, decision but these schools are spending huge amounts of money trying to convince students and their parents its a good idea so welcome to the suck.
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Jul 20, 2016 17:54
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RheaConfused posted:Also, if he's working a state job would any of that qualify for PSLF?
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Jul 20, 2016 17:58
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Technically the parent plus one is in his mom's name right? So get loan forgiveness for the federal, and just cross off the parent plus and he's good to go!
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Jul 20, 2016 19:27
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Pryor on Fire posted:There is a gigantic recruiting push underway at nearly every american college for out of state and international students, they pay higher tuition generally and colleges are using this growing funding source as much as they can. What this means is that in state students are often being excluded in admissions even over less qualified international students, and that there is a huge amount of marketing and sales focused on out of staters and convincing them it's worth it. So we have a shitton of students spending insane amounts of money to study from another state or country, but not necessarily at top tier schools like Harvard, but every lovely state school and liberals arts college in town. So you spend an insane amount of money for a sociology degree from an ok but not really good school like, say, the University of Colorado and then hello student debt for life. Where I went to high school, state colleges were required to accept in-state applicants who graduated in some top percentage (maybe 10%?) of their class. The catch is that they didn't offer scholarships to those applicants, so people still ended up going out-of-state to get better financial aid. BWM: Going out of state based on a nice financial aid package that only lasted the first two years, and then using student loans to cover the remaining years in school. If I could go back in time, I would slap myself. Over a decade later and I'm still making payments for that diploma. Meanwhile, one of the guys I know stayed in-state, failed out after two years, returned to school some years later to get a different degree, and paid off all of that debt within 8 years. 
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Jul 20, 2016 22:26
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BWM is living in a country where "gently caress you, got mine" is the national motto. You guys should have that on your coins instead of E Pluribus Anus or whatever it is at the moment.
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Jul 20, 2016 22:50
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The fact that students end up with $120k in debt for a four year degree if they aren't extremely frugal while they study is pretty bad. The number of private loans is a large concern as well as they seem to lack some the protections of government loans. Although New Zealand sticks students with $30k to $40k student loans at 0%. Which isn't so bad as it's all income based repayment above an income threshold. Where people get shafted here is the housing crisis. In the two years since I bought my house the market value has gone up by about 35%. If you had a 20% deposit saved up but hadn't bought a house you'd need to save around $500 per week just to maintain the 20% deposit. Up until recent months the government didn't see the exponential growth in house prices as a problem. So you can get a degree here without being too shafted but most will never be able to afford a house.
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Jul 20, 2016 23:53
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Pryor on Fire posted:There is a gigantic recruiting push underway at nearly every american college for out of state and international students, they pay higher tuition generally and colleges are using this growing funding source as much as they can. What this means is that in state students are often being excluded in admissions even over less qualified international students, and that there is a huge amount of marketing and sales focused on out of staters and convincing them it's worth it. So we have a shitton of students spending insane amounts of money to study from another state or country, but not necessarily at top tier schools like Harvard, but every lovely state school and liberals arts college in town. So you spend an insane amount of money for a sociology degree from an ok but not really good school like, say, the University of Colorado and then hello student debt for life. Well, it's not like we have the hukou system in the US or anything, you can switch your residency to the state you move to within a year and qualify for in-state rates. One of my friends in college (FL) moved down from PA for precisely that reason, it worked out way cheaper to eat the out of state tuition for a year then have three years at FL's low in-state rates, rather than 4 years at UPenn at $18k/yr or whatever. If you're not in a hurry, I think most universities allow you to defer for a year. When I was thinking of doing grad school at UCSD some years ago, I was planning on doing that to establish CA residency, would have saved me like $14k.
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Jul 21, 2016 00:13
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In Texas it's two years. Still sucks.
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Jul 21, 2016 00:26
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RheaConfused posted:In Texas it's two years. Still sucks. And then you have colleges like the University of Michigan: quote:The University of Michigan has autonomous, constitutional authority to establish residency guidelines that apply to the University. The University’s residency guidelines are independent of other state rules or regulations governing residency for other purposes, including income and property tax liability or eligibility to vote or drive. They denied residency to a friend's husband after they'd lived in Ann Arbor for three years so he had to pay out of state tuition the entire time. Tuition went up 4% this year, and Michigan's endowment is around $11 billion right now. gently caress them.
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Jul 21, 2016 00:35
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Pompous Rhombus posted:Well, it's not like we have the hukou system in the US or anything, you can switch your residency to the state you move to within a year and qualify for in-state rates. One of my friends in college (FL) moved down from PA for precisely that reason, it worked out way cheaper to eat the out of state tuition for a year then have three years at FL's low in-state rates, rather than 4 years at UPenn at $18k/yr or whatever. $18k a year at UPenn god lol try like $70k
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Jul 21, 2016 02:24
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BadSamaritan posted:I thought GIS was a field you could make some actual money in? It sounds like maybe he should look at other jobs, too. His loans are still outrageous, but a reasonable income can't hurt. From what Ive gathered it kinda has a low top end for pay. You might get started right out of school for around 40-45 a year, but you will never make more than 60-70. Thats wages for energy companies which typical skew higher than most industries. Whoever told this guy he was going to be bringing in the big bucks lied.
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Jul 21, 2016 03:32
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Haifisch posted:Combine that with either not qualifying for aid & scholarships or not applying, and it's easy to see how he racked up that much debt. Yeah. I went to a school with a high sticker price (45K a year), which on paper would have run me around 200K had I been paying full price, but after financial aid it was 1/4 that cost. Still not cheap, but I can't fathom someone actually paying that full sticker price for college. El Mero Mero fucked around with this message at 05:07 on Jul 21, 2016 |
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Jul 21, 2016 04:24
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JohnGalt posted:From what Ive gathered it kinda has a low top end for pay. You might get started right out of school for around 40-45 a year, but you will never make more than 60-70. Thats wages for energy companies which typical skew higher than most industries. My last employer was an energy company that had 3 in house GIS guys. It was generally known for having below market pay in general but I'm fairly certain the most senior guy was doing at least 80-90k after bonus. It's Chicago so not particularly high COL either.
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Jul 21, 2016 04:25
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