|
Free cash flow (and a history of it) is probably the most important measure of creditworthiness for a business. And for people too!
|
#
?
May 31, 2017 05:30
|
|
|
|
| # ? May 25, 2024 04:16 |
|
|
Once your business is actually viable and has a good balance sheet you won't have to personally guarantee your loans.
|
|
#
?
May 31, 2017 13:10
|
|
|
General credit card question: It now looks like I'm going to be out of town for 2-3 weeks while a new card sits in my mailbox. It's a locked community mailbox so I'm not worried about theft, but how long can a card sit inactivated? Worst case scenario I can call the issuer, but if it's not a problem I'll save myself a customer service experience. E: vvvvv appreciated. Rolo fucked around with this message at 03:09 on Jun 2, 2017 |
|
#
?
Jun 2, 2017 00:06
|
|
|
Rolo posted:General credit card question: It now looks like I'm going to be out of town for 2-3 weeks while a new card sits in my mailbox. It's a locked community mailbox so I'm not worried about theft, but how long can a card sit inactivated? It doesn't matter.
|
|
#
?
Jun 2, 2017 02:16
|
|
|
So, I have a question about retirement contributions. Right now I'm kicking in 10% of my pre-tax into a 401k (roughly $90 a paycheck), and $100 post-tax into my Roth IRA. The 401k has a 5% match. Should I keep this up, or should I increase the 401k contribution and stop contributing to the IRA?
|
|
#
?
Jun 2, 2017 21:46
|
|
|
BigDave posted:So, I have a question about retirement contributions. Right now I'm kicking in 10% of my pre-tax into a 401k (roughly $90 a paycheck), and $100 post-tax into my Roth IRA. The 401k has a 5% match. If anything I would contribute less to the 401k until your Roth IRA is maxed out. Don't go under the 5% match though. Once you are able to max out a Roth, then crank your 401k contributions back up.
|
|
#
?
Jun 2, 2017 21:48
|
|
|
So, I made my post and forgot to bookmark this thread. Woops.tuyop posted:Knowing nothing about this app, I would bet that one or all of the following are true: moana posted:"$1.25 per month for accounts with a balance under $5,000 and 0.275% per year (charged monthly, computed daily), for accounts with a balance of $5,000 and over." Thanks for this advice, but it's not really what I'm looking for. I understand that a savings account is a good way to save money, but what I'm really looking to learn about is- THF13 posted:Acorns is legit but I wouldn't recommend it, there are better options. -Ah, yeah, pretty much exactly this. Thanks for the insights!
|
|
#
?
Jun 2, 2017 22:01
|
|
|
DJCobol posted:If anything I would contribute less to the 401k until your Roth IRA is maxed out. Don't go under the 5% match though. Once you are able to max out a Roth, then crank your 401k contributions back up. If I could max out the IRA I would, but that would be $293 a paycheck. I could knock the 401k back to 5% and increase the IRA to $150, that would put me at $3365 towards the yearly IRA limit.
|
|
#
?
Jun 2, 2017 22:33
|
|
|
I don't understand how management consulting firms do their presentations. Their presentations all seem to be very wordy with complex, hard-to-parse infographics. How do these play out in practice? Do they spend like 10 minutes on each slide explaining those graphs? What's the deal? Here's one example: https://www.portoflosangeles.org/Board/2008/March/030608_pres_bcg.pdf
|
|
#
?
Jun 3, 2017 07:04
|
|
|
You've guessed how it plays out correctly. You've also, I think, correctly guessed that the deal is it's very bad.
|
|
#
?
Jun 3, 2017 17:11
|
|
|
Does anyone have any more of this stuff? I need a PYF nonsensical flowchart thread or something.
|
|
#
?
Jun 3, 2017 17:17
|
|
|
What is this crazy moon fraction infographic supposed to show? I can't believe people get paid to make this nonsense:
|
|
#
?
Jun 6, 2017 17:07
|
|
|
Truck planning: Worse (full moon) <--------> Better (new moon)
|
|
#
?
Jun 6, 2017 17:14
|
|
|
Enfys posted:What is this crazy moon fraction infographic supposed to show? I can't believe people get paid to make this nonsense: I think the secret is that its supposed to obfuscate the truth.
|
|
#
?
Jun 6, 2017 17:20
|
|
|
Reminds me of the what we don't know/what we do know/the sweet spot venn diagram.
|
|
#
?
Jun 6, 2017 17:32
|
|
|
I want to start a business in Canada and I don't know what I'm doing. Where do I start?
|
|
#
?
Jun 6, 2017 23:25
|
|
|
Ultimate Shrek Fan posted:I want to start a business in Canada and I don't know what I'm doing. Where do I start? How good are you at making insane flowcharts?
|
|
#
?
Jun 7, 2017 01:10
|
|
|
Ultimate Shrek Fan posted:I want to start a business in Canada and I don't know what I'm doing. Where do I start? Learn what you're doing. What province are you in? There's entrepreneurship programs, but I think they're provincial.
|
|
#
?
Jun 7, 2017 01:49
|
|
|
tuyop posted:How good are you at making insane flowcharts? Like, insanely well done or insane content matter? Either way, probably poo poo. FrozenVent posted:Learn what you're doing. I'm in Newfoundland. I know what I'm doing, with regards to the actual business, just nothing else.
|
|
#
?
Jun 7, 2017 02:01
|
|
|
Ultimate Shrek Fan posted:Like, insanely well done or insane content matter? Either way, probably poo poo. If you're in St. John's, I suggest dropping by the business information center: http://www.stjohns.ca/living-st-johns/newcomers/working-st-johns/starting-business The provincial government has a guide, too - http://www.tcii.gov.nl.ca/starting/generalinformation/pdf/SmallBusinessHandbook.pdf
|
|
#
?
Jun 7, 2017 02:46
|
|
|
Deffo good information. Thank you.
|
|
#
?
Jun 7, 2017 02:47
|
|
|
Ultimate Shrek Fan posted:I'm in Newfoundland. Abandon all hope.
|
|
#
?
Jun 7, 2017 03:37
|
|
|
tuyop posted:Abandon all hope. Could be worst, could be the other oil producing province.
|
|
#
?
Jun 7, 2017 03:38
|
|
|
Bojanglesworth posted:That makes sense for when you have just started your business, but thats not the way for forever, is it? Wouldn't it be the same as standard credit, you start with low limits and work your way to better terms? Isn't the whole point of an LLC to keep your personal and business separate? If I purchase gear for my business, in my business name, but then my name is still the primary gaurantor would those assets still be protected? Just to follow up on this, if anyone is interested. It seems like there definitely is a process beyond just "paying your bills" to establish business credit: https://www.americanexpress.com/us/small-business/openforum/articles/7-steps-to-getting-business-credit-1/
|
|
#
?
Jun 7, 2017 05:58
|
|
|
tuyop posted:Abandon all hope. I live in Newfoundland, I don't know what hope is.
|
|
#
?
Jun 7, 2017 18:12
|
|
|
Just had an unemployment hearing after my old temp agency appealed my benefits. From the way things turned out I'm pretty sure their case fell to pieces on them, but it'll be a bit before I find out. Either way, that's a hell of a spook.
|
|
#
?
Jun 7, 2017 20:01
|
|
|
Is it advisable to give more notice than you're required? I'm looking to leave in exactly four months as it'll complete my one year at the company. My contractual notice period is three months (yes it's poo poo). But my company has had a lot of trouble hiring for my position -- took'em eight months to fill my position. I figure they'd appreciate more time in that hiring process. I want to leave on good terms. What are my risks here?
|
|
#
?
Jun 9, 2017 17:31
|
|
|
The biggest downside is a month of your time is spent spinning your wheels instead of building goodwill at a place you might well have a future at. How well can you weather a gap in income? I guess they could fire you like, a month in to your notice period, forcing you to have an "awkward" conversation with the new company who wasn't expecting you for another three months. (Without the extra month it'd only be two...improvement?) It doesn't seem like a big deal to me but like, if they were gonna fire you for not doing enough work, they probably wouldn't give you an extra month to find a new job because they "know how tough it is out there", I don't see a good reason to do the same for them. If they want an extra month so bad, they can come to you and ask for it by offering you piles of cash to please stay a bit longer. Unless it comes with a certification or something externally visible, don't worry about the 1-year mark either. It's not like your resume needs exact dates on it that someone is gonna differentiate between a year and 11 months. Jeffrey of YOSPOS fucked around with this message at 17:41 on Jun 9, 2017 |
|
#
?
Jun 9, 2017 17:34
|
|
|
How much should I be saving a month if I want to remain financially stable/secure? Is there a hard target to hit?
|
|
#
?
Jun 9, 2017 19:08
|
|
|
Save enough money. About as vague of an answer as your question. Is going to depend on a lot of factors like how much you spend a month, when you want to retire, etc.
|
|
#
?
Jun 9, 2017 19:19
|
|
|
Pollyanna posted:How much should I be saving a month if I want to remain financially stable/secure? Is there a hard target to hit? Here's a handy chart but there are endless retirement calculators http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ If you mean to weather small bumps like unexpected illness or job loss, most people suggest savings of 3-6 months worth of expenses.
|
|
#
?
Jun 9, 2017 19:23
|
|
|
I'm mostly trying to identify waste and performance gaps in my spending/saving habits. I live in an area with high single-person rent and I'm worried whether that'll screw me over in the future.Bhodi posted:It depends on when you want to stop working and retire on what you saved. I kind of don't expect to be retiring at 65 or something, cause there's no way that'll happen in this economic climate/for my generation. I mostly don't have a goal besides eventually getting a house, I just want to "do it right" or at least not gently caress myself over. Also, from your link: quote:It’s quite amazing, especially at the less Mustachian end of the spectrum. A middle-class family with a 50k take-home pay who saves 10% of their income ($5k) is actually better than average these days. But unfortunately, “better than average” is still pretty bad, since they are on track for having to work for 51 years.  Isn't this a discredited argument?
|
|
#
?
Jun 9, 2017 19:50
|
|
|
Pollyanna posted:
His assumptions don't look too ridiculous (5% real returns, 4% withdrawal). Maybe they are a bit optimistic but not too much. And yeah, I think the current BFC thinking is that daily lattes don't count because if you cut them out for a year you won't automatically have a 20% house downpayment in the Bay area.
|
|
#
?
Jun 9, 2017 20:11
|
|
|
Pollyanna posted:Also, from your link: I'm skeptical the average family with $50k takehome is spending $2.5k, or 5% of their takehome, on cable and lattes, but if they are then it works out I guess. I don't follow him so maybe this is incorrect, but I feel like he took his experience and generalizes it not realizing or ignoring that it is significantly easier to cut spending while maintaining a decent life if you're in the top 5%.
|
|
#
?
Jun 9, 2017 20:51
|
|
|
asur posted:I'm skeptical the average family with $50k takehome is spending $2.5k, or 5% of their takehome, on cable and lattes, but if they are then it works out I guess. I don't follow him so maybe this is incorrect, but I feel like he took his experience and generalizes it not realizing or ignoring that it is significantly easier to cut spending while maintaining a decent life if you're in the top 5%.
|
|
#
?
Jun 10, 2017 01:54
|
|
|
It's super hard to have a financially secure life when you have family members inchs away from homelessness/car repo/cps visit and need you to bail them out, sometimes literally. I want to say no, but that would mean my nieces and nephews would suffer, and I don't have the heart to do that. But it's not my fault mommy and daddy have a poo poo life because they made bad decisions. Good news is my wife and I have narrowed down a budget with a "gift" category that works. Just sucks flushing that money then the drain.
|
|
#
?
Jun 10, 2017 02:35
|
|
|
A close friend of mine (doesn't post here) is having one hell of a career cluster-gently caress. I don't even know where to begin (or if another thread is more appropriate) but I'll summarize it here to the best of my ability and hopefully someone can give me some advice to give to him since maybe someone knows a way out for him in his situation. I really want to help this guy get out of the pit he's in currently, because he's inherently a good person and fun to hang out with. So basically, he dropped in and out of college multiple times, never got a degree any of those times, and has basically spent about eight years with nothing more than general education or electives. He's had all sorts of interests, but he only casually dips into them and doesn't take them very far after he gets bored or frustrated. Guy's got a massive organization problem and is really, really bad with money and long-term goals. Like, his solution to his mountain of student loan debt was to ignore the loan servicing agency because he felt really upset at the time and didn't want to think about it. Now he has an extreme credit problem. His day job is that he works as a process server. At first he enjoyed it because he could spend all day traveling, but now he's getting hosed-up feet from walking and standing so much, and he really wants to do something else with his life because he really loving hates delivering papers. So, he wants to go back to school yet again, but doesn't seem to have a very clear plan of what he wants to do. There are some things he's interested in, like working in a job that would put him close to nature, but the one thing he's made extremely clear is that he'd rather die than work at a menial office job doing data entry all day. Where can he realistically go from here, with some college courses and experience as a process server? Is going back to college the best idea, or would he be better served by something like a trade school? From what I can tell, all his college credits would hopefully mean that the only courses he'd have to take would be for a major. However, he's already drowning in debt and has a hard time paying off his rent and bills. I believe it's his plan to use that as motivation to stick to college this time, but without a concrete goal I have a bad feeling he'd only end up in an even worse situation than he's in now. Please help me help this guy.
|
|
#
?
Jun 10, 2017 06:31
|
|
|
What's a good rule of thumb for a emergency fund? Is $1000 enough, or should I be looking at something a little bigger?
|
|
#
?
Jun 11, 2017 19:46
|
|
|
BigDave posted:What's a good rule of thumb for a emergency fund? Is $1000 enough, or should I be looking at something a little bigger? So many factors here. How secure is your job? How much is your monthly, non-discretionary spending? (how much do you need so that you won't starve / be homeless) How secure are your sources of debt that could be used to weather a rainy day? Do you have any loans that you need to pay off monthly that would ruin you if you didn't? (mortgage / car) All of these factors determine how much you should have in reserve. Some day 3 months expenses, some say 6 months, but it's a very personal decision.
|
|
#
?
Jun 11, 2017 19:52
|
|
|
|
| # ? May 25, 2024 04:16 |
|
|
There's no need to make it super complicated and make people type out their history for 30 minutes, 3-6 months of expenses is fine for an emergency fund
|
|
#
?
Jun 12, 2017 01:29
|
|
