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BeastOfExmoor posted:Counterpoint, my wife made several thousand dollars flipping some specific baby wearing item on Facebook. They sold new for about $200, but sold out immediately and were immediately worth at least $300. GWM for me. So why was your wife spending thousands of dollars on $200 baby wraps in the first place? That seems pretty BWM.
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Aug 3, 2016 09:53
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To flip them. Gotta spend money to make money!
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Aug 3, 2016 13:52
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https://www.reddit.com/r/personalfinance/comments/4vrw0e/im_19_years_old_and_looking_at_purchasing_a_house/ posted:I'm 19 years old and looking at purchasing a house. Is this a good idea? (self.personalfinance) Oh wait, there's no way they could get a loan like that. Crisis averted, and they might even realize they can't afford a house anytime s- quote:Thanks!! Very helpful. I hadn't even really considered the loan aspect. However I could ask my parents to sign for the mortgage or something I guess. 
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Aug 3, 2016 23:15
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Hahaha, what a bullshit budget. $100/month food, $50 for basically "everything else"?
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Aug 3, 2016 23:19
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GoGoGadgetChris posted:Hahaha, what a bullshit budget. $100/month food, $50 for basically "everything else"? "I wrote down categories, I has a budget."
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Aug 4, 2016 00:01
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It's possible to live on a budget like that. However the only person I knew who was at uni and had investments was investing in the stock market. Why does he want a house anyway? I looks like he's just worried about missing out on capital gains.
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Aug 4, 2016 00:44
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Devian666 posted:It's possible to live on a budget like that. What's your eating plan for $3.33/day? What do you do for fun with a daily allowance of $1.67? I guess it's possible to literally survive (legitimate bulk rice and beans territory here, with buying all your clothes at Goodwill and not doing any forms of entertainment that cost money) but eventually you'll grow sick from both malnourishment and a lack of stimulation...
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Aug 4, 2016 00:57
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GoGoGadgetChris posted:What's your eating plan for $3.33/day? What do you do for fun with a daily allowance of $1.67? When you are a student you suffer and only just get by. While I was studying I couldn't afford luxuries like going to the movies or eating out. All games were pirated and money was borrowed to even have a computer. When you are in the lowest 3% of income for the country you make do with what money you have.
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Aug 4, 2016 01:22
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I got to use "like buying $3000 a month in limited edition Snape-themed baby wraps but can't figure out why they're broke all the time" in conversation to describe someone who actively works against their own best interests today, so thank you dudes for that.
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Aug 4, 2016 01:48
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lol https://twitter.com/JDiamond1/status/761015802459856896
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Aug 4, 2016 02:55
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GoGoGadgetChris posted:What's your eating plan for $3.33/day? What do you do for fun with a daily allowance of $1.67? You realize that there are families on a $200/mo budget for food, right? And when you're poor, $50 can be the most you can responsibly spend on fun.
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Aug 4, 2016 04:19
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Weatherman posted:So why was your wife spending thousands of dollars on $200 baby wraps in the first place? That seems pretty BWM. I was a little upset when she ordered the first one (for personal use) because of the price, but it was fairly nice, very comfortable, and handmade in the US. When she sold it for $450 a few months later all was forgiven. She has a spreadsheet somewhere and I believe when she finally stopped she had made $2000 in profit and only ended up keeping one or two for her use so it was a pretty GWM little hobby.
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Aug 4, 2016 04:30
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22 Eargesplitten posted:You realize that there are families on a $200/mo budget for food, right? And when you're poor, $50 can be the most you can responsibly spend on fun. I think 200 for 2 is possible, and 100 for 1 is not. Like I said before, I don't think 100 bucks a month will lead you to starve to death, but I don't think it works long term. And it's 50 bucks for all expenses, not just dickin' around money. 50 bucks for clothes, toothpaste, bus pass, new tube for your bike, etc.
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Aug 4, 2016 04:59
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When you think about it like $25/wk instead of $100/mo it seems a little less impossible.
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Aug 4, 2016 05:54
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I LIKE TO SMOKE WEE posted:When you think about it like $25/wk instead of $100/mo it seems a little less impossible. Counting $100/mo as $25/wk means that you're at $0 for an additional 29 days per year.
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Aug 4, 2016 06:05
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GoGoGadgetChris posted:What's your eating plan for $3.33/day? What do you do for fun with a daily allowance of $1.67? It's the UK, but if it's like the US the person could have a meal plan as a part of loans / enrollment. I spent a very small amount of money in college because everything was a hidden cost on my loans.
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Aug 4, 2016 13:01
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GoGoGadgetChris posted:What's your eating plan for $3.33/day? What do you do for fun with a daily allowance of $1.67? lol rice and beans plus cheap veggies and oil is like $50/month for one person, $100 gets you meat and sweets once a week at least congrats on not having any first-hand experience with poverty
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Aug 4, 2016 14:35
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GoGoGadgetChris posted:I think 200 for 2 is possible, and 100 for 1 is not. Like I said before, I don't think 100 bucks a month will lead you to starve to death, but I don't think it works long term. Well you'd be wrong.
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Aug 4, 2016 14:46
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Buying nutritious food to live: BWM
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Aug 4, 2016 15:17
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I live on a supply of Jetsons pills.
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Aug 4, 2016 15:19
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I'm genuinely surprised to hear that people can get all the nutrition they need on $100 a month. That's $86 less than the USDA opinion of the bare minimum for an adult male to receive their baseline nutrition. I've never had to spend that little for an extended period, so I will defer to your experience and apologize to those of you who did it and had to hear me say it can't be done.
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Aug 4, 2016 17:18
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GoGoGadgetChris posted:I'm genuinely surprised to hear that people can get all the nutrition they need on $100 a month. That's $86 less than the USDA opinion of the bare minimum for an adult male to receive their baseline nutrition. You are probably gonna get a bunch of vitamin deficiencies but raw calories are pretty abundant in cheap form, like garbage ramen noodles cost 18 cents per pack if you buy them in bulk, assuming you eat three meals of them a day (  ) that's only ~$16 a month, leaving enough left over to buy some vitamin supplements and/or pay for treatment of your crippling rickets and scurvye: Also heart disease, if you're a girl: http://www.ncbi.nlm.nih.gov/pubmed/24966409 posted:The consumption of instant noodles was associated with increased prevalence of metabolic syndrome in women, independent of major dietary patterns. Shame Boy fucked around with this message at 17:29 on Aug 4, 2016 |
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Aug 4, 2016 17:25
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You can get all the nutrients you need from potatoes and some dairy. You may have some interesting looking shits, but scurvy you won't.
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Aug 4, 2016 18:06
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I subsist on a thin stew made of fish, vegetables, prawns, coconut milk, and four kinds of rice. I came close to madness trying to find it here in the States, but they just can't get the spices right.
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Aug 4, 2016 18:31
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Moneyball posted:I subsist on a thin stew made of fish, vegetables, prawns, coconut milk, and four kinds of rice. I came close to madness trying to find it here in the States, but they just can't get the spices right. SKINNERRRRR!
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Aug 4, 2016 18:37
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GoGoGadgetChris posted:Hahaha, what a bullshit budget. $100/month food, $50 for basically "everything else"? Not shown: Parents already pay for a meal plan
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Aug 4, 2016 19:09
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Oh hey new page Whoops
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Aug 4, 2016 19:09
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Well, let's take it back to the original context. I think we can all agree that you shouldn't buy a house if you can only afford $100/month in food.
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Aug 4, 2016 19:12
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GoGoGadgetChris posted:Well, let's take it back to the original context. I think we can all agree that you shouldn't buy a house if you can only afford $100/month in food. Or, you know, only make $12k a year.
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Aug 4, 2016 19:24
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Buying a house in college isnt the worst thing if youre going to be living in it + renting rooms. Dorms charge like 8-12 thousand a year to live in a glorified prison cell.
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Aug 4, 2016 19:31
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JohnGalt posted:Buying a house in college isnt the worst thing if youre going to be living in it + renting rooms. Dorms charge like 8-12 thousand a year to live in a glorified prison cell. It's just a bad idea all around for 99% of college students. I'm sure there are a ton of people that do it successfully, but they are literally gambling with their future financial stability with a huge financial, legal, and time/effort liability by buying a house. Renting out property is a pain in the rear end.
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Aug 4, 2016 20:16
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JohnGalt posted:Buying a house in college isnt the worst thing if youre going to be living in it + renting rooms. Dorms charge like 8-12 thousand a year to live in a glorified prison cell. During the go-go housing boom parents would buy condos in a huge new development near one of the city schools with the aim to sell them after 4 years for a hefty profit. It's conceivable the Class of 2006 managed to pull that off before everything went to poo poo. It's not a terrible idea, but it can go sideways quick. Like if your kid flunks out after one year and you're stuck with a property in another city that you have to sell quick or somehow maintain. Edit: adding that depending on the area it's probably a better idea just to rent a house. Because buying a condo as an investment opportunity is a great idea, said no one who owns a condo they bought as an investment opportunity. Krispy Wafer fucked around with this message at 20:23 on Aug 4, 2016 |
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Aug 4, 2016 20:20
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At first I was like "how the gently caress does a 19 year old kid make ~50K without finishing college in an area they might actually be able to buy a house?!?!?!" and then I got to the "but I only work four months out of the year." What sort of job would that be? Highend landscaping? Construction? Oil rig/sands?
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Aug 4, 2016 20:44
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Buying a house in college is a horrible idea and anyone who says otherwise is forgetting how irresponsible they were at that age.
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Aug 4, 2016 20:47
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MAKE NO BABBYS posted:At first I was like "how the gently caress does a 19 year old kid make ~50K without finishing college in an area they might actually be able to buy a house?!?!?!" and then I got to the "but I only work four months out of the year." What sort of job would that be? Highend landscaping? Construction? Oil rig/sands? Works for a company owned by Mom/Dad getting overpaid seems most likely.
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Aug 4, 2016 21:12
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That's likely, I suppose. My perspectives are all skewed because I grew up in and work in the Bay Area, but I read here often and browse reddit's PF sometimes and see people in their 30s with families living off 35-45k and was wondering what the hell this kid did. Presumably, the OP lives in the midwest or some place if they even think there's a possibility of buying a house.
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Aug 4, 2016 21:36
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Plus, won't this tie him to the area? It's probably a lot more difficult to manage a rental property if you don't live nearby, and a single bad tenant could tank his already sketchy financial plan. Hope he can find a job nearby when he graduates!
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Aug 4, 2016 21:39
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He plans on staying in his hometown the rest of his life. I wouldn't be surprised if he changes his mind in a few years and is super-thankful he doesn't have a house tying him down. Or is forced to change his mind if he can't find a job.MAKE NO BABBYS posted:That's likely, I suppose. My perspectives are all skewed because I grew up in and work in the Bay Area, but I read here often and browse reddit's PF sometimes and see people in their 30s with families living off 35-45k and was wondering what the hell this kid did. Presumably, the OP lives in the midwest or some place if they even think there's a possibility of buying a house.
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Aug 4, 2016 22:12
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Krispy Kareem posted:During the go-go housing boom parents would buy condos in a huge new development near one of the city schools with the aim to sell them after 4 years for a hefty profit. It's conceivable the Class of 2006 managed to pull that off before everything went to poo poo. Yeah, I know a dude who lived in one of those in college. His parents bought a house near campus as his oldest sibling neared college age, and between 3 kids the house was pretty much continuously occupied for 10 years by one of the kids plus 2-4 roommates, all paying rent. I think the parents worked in something connected to real estate, and did pretty well with it. That differs from the bad with money arrangement because: 1. Parents who could afford it were buying the house 2. They were buying it in a city they lived and worked in, and had above average knowledge of the local real estate market. 3. They planned on holding it for 10 years. 4. It wasn't a condo. I knew this other dude too: canyoneer posted:I know a dude who bought a new house built in 2006. He was 22 or something and had some inherited money. "Why, instead of renting, I'll get my friends to rent rooms out of my house. Free rent and building equity!" He bought a 4500 sqft 4 bedroom. The internet tells me that he probably paid $290k or so for it.
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Aug 4, 2016 22:43
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canyoneer posted:Yeah, I know a dude who lived in one of those in college. All the kids were forced to go to the same college?
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