Higgy posted:

Motronic posted:

...with the lifestyle, life skills and breeds involved those horses most definitely are less expensive than a car if I'm right.

AreWeDrunkYet posted:

I don't know, it would take some really creative accounting to make a horse less expensive per distance traveled than a car. if you own a bunch of land to let them forage and don't offset the opportunity cost of putting it to more productive use, are willing to put in significant personal labor into maintaining the horse and ignore that time spent, own a stable and don't include the depreciation, and get veterinarian services exchanged in kind by the community, maybe the cash spent per mile is lower than a car. But then if you were a trained mechanic and owned an oil well, operating a car wouldn't seem too expensive.

Motronic posted:

They look like standardbred trotters to me, which is part of why I'm suggesting Amish.

Higgy posted:

Another reddit gem but at least he's asking before jumping:.

Dillbag posted:

If he has 80k in his TFSA he must be doing great because the cumulative deposit limit since 2009 is only 52k.

Motronic posted:

They look like standardbred trotters to me, which is part of why I'm suggesting Amish.

Suspicious Lump posted:

This is from, ~10 pages ago, but can you seriously purchase a filter on snapchat so every single picture has an overlay on it in a specific location?

Does this mean that I can buy a geofilter for a business I hate so everytime someone takes a picture in the vicinity it shows up?!?

Oh
my
god

I am about to go bad with money very very soon.

Ashcans posted:

I just want to be able to afford that avocado on toast.

Suspicious Lump posted:

This is from, ~10 pages ago, but can you seriously purchase a filter on snapchat so every single picture has an overlay on it in a specific location?

Does this mean that I can buy a geofilter for a business I hate so everytime someone takes a picture in the vicinity it shows up?!?

Oh
my
god

I am about to go bad with money very very soon.

Krispy Kareem posted:

There's an approval process. But I'm going to guess Snapchat's standards aren't the highest in the industry considering how long they kept those speed limit stickers up after kids started getting into wrecks.

26, looking to leave an 80k/year job so I can make arts and crafts from home. Is this insane? posted:

I'm living in the Boston area, working at a software company. My salary comes out to about 80k/year with bonuses included. My expenses come out to about $2,000 per month, after taxes I'm taking home about $5,000 per month (so saving up to $3,000 per month). My credit score is good, about 740, no credit card debt, but I do have a student loan with a balance of $20k remaining, paying it off currently at $350 per month. I have $16k in cash, and a 10-year-old used car in good repair which I fully own. I split living expenses with my girlfriend of nearly 6 years (we're starting to talk about getting married, and not at much risk of breaking up).

I hate my job. So, so much. 

What I want to do is quit my job in 4 months when my 401k vests, which will have $30k to $35k in it (I maxed out my contributions up to what my employer would match, 6%). 

I live pretty liberally, go out to eat often, and generally buy whatever strikes my fancy (within reason). All of that can be cut down.

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/6fwjzz/26_looking_to_leave_an_80kyear_job_so_i_can_make/

It's a long post so I picked some good quotes. Long story short guy has an $80k a year salary, has an employer matched 401k, and 20k in student loans.

But he needs to follow his dreams and make art.

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/6fwjzz/26_looking_to_leave_an_80kyear_job_so_i_can_make/

It's a long post so I picked some good quotes. Long story short guy has an $80k a year salary, has an employer matched 401k, and 20k in student loans.

But he needs to follow his dreams and make art.

Noctone posted:

That guy's numbers don't add up, I don't see how he's netting $5k/month on $80k/year.

22 Eargesplitten posted:

Is 75% post-tax not realistic? I have no idea what taxes are like for a single person anymore, and I don't know what Massachusetts taxes are like.

Droo posted:

A paycheck calculator puts his monthly net at $4682, he might have rounded it to $5k or he might have more exemptions or deductions than the 1 I used in the calculator.

Remember, $6120 will go to FICA tax for the year before he even pays federal and state income tax.

Subjunctive posted:

Yeah, idk. People have been taking pictures of speedometers for a long time, and teens have been speeding for a long time. It's not clear that there's a causality chain involving Snapchat.

Tiny Brontosaurus posted:

Dude car life changes wildly by make/model and geography. If she's got an american car in a city that salts the roads a lot, 10 years may be pretty close to junkyard time.

lampey posted:

My aunt leased a Pontiac G6 with her then boyfriend after she totaled a dodge stratus. She works on the other side of grand rapids and commutes from Holland. MI uses a lot of salt for the harsh winters and it wears on the cars. Her boyfriend didn't buy another car like they planned so she was driving 35k miles a year between her commute and driving him to work for about two years. During this time he would take care of the maintenance and arrange a ride or another car and the whole time he was pocketing the money and not doing anything. Brake pads, battery replacement, alignment were all lies. The only thing he did was two oil changes and a used set of tires. He was pretty elaborate with the excuses. The shop isnt done yet I'll check back in the morning, I need to take it across town to another place for a second quote etc. She found out when the brakes started pulling to one side real bad nearly got in an accident. The shop told her that everything on the car was original. He admitted it and she tried to set him on fire. They had to buy out the lease and do a ton of extra maintenance from all the mileage. After four years that car is practically worthless. What I don't understand was that he was in the car a significant amount of time every day, and he consigned the lease. He could have died, and what did he think would happen? In the end it was GWM because she was planning on marrying the guy.

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/6fwjzz/26_looking_to_leave_an_80kyear_job_so_i_can_make/

It's a long post so I picked some good quotes. Long story short guy has an $80k a year salary, has an employer matched 401k, and 20k in student loans.

But he needs to follow his dreams and make art.

Higgy posted:

Which doesn't even account for pre and post tax check deductions like his 401k contributions, insurance premiums etc. I see about 65% of my "pay" as take home when all of that is considered.

In any case the answer should be a resounding "no that's stupid and so are you for thinking this is in any way a good idea". Dude needs to find a different job if he's gonna do anything or focus on his ~art~ as a hobby.

AreWeDrunkYet posted:

What's the difference between 401k savings that never show up in your paycheck and, for example, making a deposit into a Roth 401k? And if they're functionally the same, what's the point of talking about "take-home" pay?

The numbers to worry about (in my opinion) are gross income, disposable income, discretionary income, and savings rate.

ranbo das posted:

In general 401k is funded with pre-tax dollars, roth is funded with post tax dollars

22 Eargesplitten posted:

That's actually a point I didn't think of. I never thought of 401k take-home, but should you? If you consider other money put into savings as part of take-home, it seems like the 401k would be even better savings. Or do you only count what you could choose to spend without taking penalties like with a 401k?

It's not like insurance premiums or tax where you're no getting it, you're just getting it differently.

Maybe there's a difference between take-home and net?

AreWeDrunkYet posted:

I specifically mentioned a Roth 401k because it's also pre-tax,

EAT FASTER!!!!!! posted:

So Father's Day is coming up, and we need to get gifts for several men in our lives. I suggested to my wife that we dispense with the "try to guess what they want" bullshit and give cash, because receiving cash they have license to get a thing they wanted but we couldn't select. Everyone in our family thinks they're really good at selecting and giving gifts, and they're not - they're terrible and we accumulate crap like nobody's business.

She says it's insensitive, that people would be offended, etc. etc. etc.

Good with money or bad with money?

EAT FASTER!!!!!! posted:

So Father's Day is coming up, and we need to get gifts for several men in our lives. I suggested to my wife that we dispense with the "try to guess what they want" bullshit and give cash, because receiving cash they have license to get a thing they wanted but we couldn't select. Everyone in our family thinks they're really good at selecting and giving gifts, and they're not - they're terrible and we accumulate crap like nobody's business.

She says it's insensitive, that people would be offended, etc. etc. etc.

Good with money or bad with money?

EAT FASTER!!!!!! posted:

So Father's Day is coming up, and we need to get gifts for several men in our lives. I suggested to my wife that we dispense with the "try to guess what they want" bullshit and give cash, because receiving cash they have license to get a thing they wanted but we couldn't select. Everyone in our family thinks they're really good at selecting and giving gifts, and they're not - they're terrible and we accumulate crap like nobody's business.

She says it's insensitive, that people would be offended, etc. etc. etc.

Good with money or bad with money?

EAT FASTER!!!!!! posted:

So Father's Day is coming up, and we need to get gifts for several men in our lives. I suggested to my wife that we dispense with the "try to guess what they want" bullshit and give cash, because receiving cash they have license to get a thing they wanted but we couldn't select. Everyone in our family thinks they're really good at selecting and giving gifts, and they're not - they're terrible and we accumulate crap like nobody's business.

She says it's insensitive, that people would be offended, etc. etc. etc.

Good with money or bad with money?

Leon Trotsky 2012 posted:

A 401(k) contribution is a choice and should be included in a budget/not deducted from your gross income.

Nobody is going to say, "I need help with my budget. My takehome pay is only 20k a year! (after taxes, health insurance, and 18k in 401(k) contributions)" is a realistic assessment of your budget and "takehome pay" situations.

EAT FASTER!!!!!! posted:

So Father's Day is coming up, and we need to get gifts for several men in our lives. I suggested to my wife that we dispense with the "try to guess what they want" bullshit and give cash, because receiving cash they have license to get a thing they wanted but we couldn't select. Everyone in our family thinks they're really good at selecting and giving gifts, and they're not - they're terrible and we accumulate crap like nobody's business.

She says it's insensitive, that people would be offended, etc. etc. etc.

Good with money or bad with money?

quote:

Economist Sean Snaith believes deeply, along with many in his trade, that gift-giving represents an inefficient reallocation of resources.

Liquid assets, they generally argue, are the most efficient gifts.

Economists have acted on that theory elsewhere on the calendar. Chad Moutray, chief economist for the National Association of Manufacturers, once bought his wife shares of the Dow Diamonds exchange-traded fund for Valentine’s Day.

There is little romance about the fund, which mimics the Dow Jones Industrial Average. But it was an efficient gift, he says — highly liquid; low expense ratio — and his wife liked the Diamonds.

“She appreciated the joke,” he says of his late wife, “and benefited from the rising stock value.”

But he experienced what economists call an unanticipated externality: “My female work colleagues were less impressed. They thought that I should have given the real thing.”

Joel Waldfogel, then at Yale University, calculated yuletide waste by asking 86 students to estimate the cost of presents they received. Average answer: $438.

He asked how much they would have been willing to pay for the same gifts. Average answer: $313. Recipients valued gifts at 71.5 cents on the US dollar, a significant economic inefficiency.

Gifts, Mr. Waldfogel wrote, “leave the recipient worse off than if she had made her own consumption choice with an equal amount of cash.”

“We find no evidence of significant welfare gains in any gift category,” the paper concluded, calling gifts a “considerable market failure.”

“The efficiency loss of Christmas presents,” they concluded, “is highest for gifts from grandparents.”