Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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curufinor: Apr 4, 2016; by Smythe

Nail Rat posted:

Mid-six-figures in NYC, she definitely wasn't a CEO, she had a boss.

The other bit is that most people at the ridiculous schools have been workaholics since they were 14, so they will unironically want to climb the ranks or make their own business with vc or whatever. Count the number of Harvard mbas in your closest faceless fortune 500's executive suite

# ? Aug 3, 2017 15:47

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# ? May 30, 2024 16:00

SquirrelFace: Dec 17, 2009

monster on a stick posted:

You are 100% right, advice aimed at people who are not living below the poverty line is by definition bad advice. Let's remove that advice about using 401k/IRAs from the Long-Term Investing and Retirement Savings thread.

But that "quote" - that's not her saying that, that's the writer of the article. Pro-tip: you can tell when they are quoting someone because they use this symbol -->"<-- before and after the parts where they are quoted.

I think you may have misread my first comment on this. No where did I say the advice to save was bad. I never said the woman who saved all that money said anything unless you believe that I used "it" as a pronoun for this woman.

I honestly don't think we even disagree on anything. We both think this woman did a good job. My only problem with the WRITER of this article is that they present this woman's situation as achievable for everyone when it is clearly not. Reminds me of the "well if millennials just stopped drinking fancy coffee, they could buy houses!" type advice.

# ? Aug 3, 2017 15:52

brugroffil: Nov 30, 2015; Can't post for 33 minutes!

followed closely by a "Millennials are killing coffee!" article, ofc

content update:

brugroffil posted:

from a guy who's been obsessed with buying a Tesla Model 3 for years:

quote:
I guess I should mention I could ask for a delay, and to be pushed back in line, but I want to get the car prior to the end of 2017 so I can immediately take the tax credit, and move somewhere across the country, using that $7500 tax credit as a down payment for a house.

He's now trying to decide between a stripped-down long range model for $45k or a loaded up short range model for $50k, and he's still very excited about that tax credit. A few people pointed out that that's an awful lot of money for a car, but he got extremely defensive and a couple more people jumped in with YOLO-type comments.

# ? Aug 3, 2017 16:05

monster on a stick: Apr 29, 2013

Krispy Kareem posted:

This thread has devolved quiet a bit just in the last year. There's a lot more NWM (negative with money) people in here now.

Well first it was "make fun of people who spend money they don't have", then "make fun of people who spend money even if they have it", then now it's "make fun of people who don't spend money" so you kind of can't win in the BWM thread.

# ? Aug 3, 2017 16:46

Hoodwinker: Nov 7, 2005

As far as derails go, this one wasn't that bad. No TB or JS makes it pretty palatable. I give it a B+ for giving me something to read.

BWM: anybody who speculated on the bitcoin fork recently

I derive a deep schadenfreude from watching the crypto markets whip around.

# ? Aug 3, 2017 17:32

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

One of my coworkers (who makes about $28k a year) was talking about how they get a new 2.5k gaming PC every year to stay up to date.

He gets it at Best Buy because they approved him for a Best Buy credit card and with a Best Buy credit card "you only have to pay interest at the end."

The Best Buy credit card, like almost every store card, retroactively charges 28% APR for the entire 0% interest period after the intro rate it over.

He's been paying 28% APR on 12 months of 2.5k every time.

He has done this for 3 years in a row and just figured this out when we told him to stop.

Leon Trotsky 2012 fucked around with this message at 18:21 on Aug 3, 2017

# ? Aug 3, 2017 18:11

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Leon Trotsky 2012 posted:

One of my coworkers (who makes about $28k a year) was talking about how they get a new 2.5k gaming PC every year to stay up to date.

He gets it at Best Buy because they approved him for a Best Buy credit card and with a Best Buy credit card "you only have to pay interest at the end."

The Best Buy credit card, like almost every store card, retroactively charges 28% APR for the entire 0% interest period after the intro rate it over.

He's been paying 28% APR on 12 months of 2.5k every time.

He has done this for 3 years in a row and just figured this out when we told him to stop.

Buy his 2 year old $2500 gaming rig for cheap.

# ? Aug 3, 2017 18:20

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Upon further discussion, he apparently DID know this was happening. He thought APR was charged monthly (at 28%), so paying 28% annually was actually 12x better than a normal credit card.

:negative:

# ? Aug 3, 2017 18:21

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Leon Trotsky 2012 posted:

One of my coworkers (who makes about $28k a year) was talking about how they get a new 2.5k gaming PC every year to stay up to date.

He gets it at Best Buy because they approved him for a Best Buy credit card and with a Best Buy credit card "you only have to pay interest at the end."

The Best Buy credit card, like almost every store card, retroactively charges 28% APR for the entire 0% interest period after the intro rate it over.

He's been paying 28% APR on 12 months of 2.5k every time.

He has done this for 3 years in a row and just figured this out when we told him to stop.

He spends over 10% of his gross on a computer every year. It's almost impressive

Odds on being able to build a similarly specced desktop for 4 figures less?

# ? Aug 3, 2017 18:25

Hoodwinker: Nov 7, 2005

Not a Children posted:

He spends over 10% of his gross on a computer every year. It's almost impressive

Odds on being able to build a similarly specced desktop for 4 figures less?

High odds.

# ? Aug 3, 2017 18:27

Bhodi: Dec 9, 2007; Oh, it's just a cat.; Pillbug

Leon Trotsky 2012 posted:

The Best Buy credit card, like almost every store card, retroactively charges 28% APR for the entire 0% interest period after the intro rate it over.

What the gently caress is this? Seriously? How is this even legal?! That's not an introductory rate, that's a deferment!

I feel like I'D be suckered in by this because while I'm sure it's buried in the fine print somewhere I've never even considered that it'd be legal to do such a thing

Bhodi fucked around with this message at 18:32 on Aug 3, 2017

# ? Aug 3, 2017 18:30

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

The cherry on the BWM sunday is that apparently the Best Buy credit card has two options when you make a purchase.

5% cashback on Best Buy purchases

or

0% APR for 12 months on your purchase

So, he's also been missing out on about $125 a year for the past 3 years every time he's done this.

# ? Aug 3, 2017 18:33

KingSlime: Mar 20, 2007; Wake up with the Kin-OH GOD WHAT IS THAT?!

don't buy toys on credit

it's crazy how many people missed that memo as teens or young adults

please for the love of all that is holy do not purchase toys you can't afford this instant on borrowed money

# ? Aug 3, 2017 18:39

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Coworker has been educated about how APR works.

We gave him a number to pay each month so he doesn't get charged interest.

He still likes the idea of upgrading his PC every year with no up-front cost and isn't sure if he will make all of the payments on time, but he knows what to do.

It's in God's hands now.

Potential BWM (semi)success story?

# ? Aug 3, 2017 18:40

Guinness: Sep 15, 2004

Leon Trotsky 2012 posted:

He thought APR was charged monthly (at 28%), so paying 28% annually was actually 12x better than a normal credit card.

The "A" in "APR" literally stands for "annual" :downs:

# ? Aug 3, 2017 18:58

ranbo das: Oct 16, 2013

Bhodi posted:

What the gently caress is this? Seriously? How is this even legal?! That's not an introductory rate, that's a deferment!

I feel like I'D be suckered in by this because while I'm sure it's buried in the fine print somewhere I've never even considered that it'd be legal to do such a thing

If you pay off the balance by the end of the 0% APR time period, you don't pay interest period. Just, you know, don't let the balance hang around for longer than 12 months.

# ? Aug 3, 2017 19:13

Bhodi: Dec 9, 2007; Oh, it's just a cat.; Pillbug

ranbo das posted:

If you pay off the balance by the end of the 0% APR time period, you don't pay interest period. Just, you know, don't let the balance hang around for longer than 12 months.

It sounds just like a balloon payment with an extra helping of exploitation. I really thought they were selling them as loss-leaders to get people to buy expensive things and it was analogous to the 0% APR for the first X months car financing.

# ? Aug 3, 2017 19:17

Haifisch: Nov 13, 2010; Objection! I object! That was... objectionable!; Taco Defender

0% intro rates(that slam you with interest for the entire period if you don't pay it off within a year) are really common with credit card offers. You can argue all day about whether or not it's right, but they've been a common thing for years.

Like with most credit card things they're banking on the people who won't pay it off in time, so they don't care too much about the people who are GWM and pay it off while it's still 0%.

# ? Aug 3, 2017 19:21

monster on a stick: Apr 29, 2013

It's as much exploitation as selling horses.

https://www.reddit.com/r/personalfinance/comments/6gsqoh/iso_advice_regarding_owning_financially/ posted:

ISO advice regarding owning / financially supporting a horse as a student

Hello! I am 18/F and looking for some advice pertaining to my impending financial situation. Sorry it is so long!

As I've just graduated high school, I will be going off to college in the fall. I've committed to Roanoke College (yay!) and have gotten my tuition down to $19k yearly versus the usual $56k yearly. For sake of this situation though, I want to disregard student debt, as crazy as that sounds.

All my life I have ridden horses, but never been able to afford to own one. Therefore, I have ridden my fair share of barn-owned lesson horses, taken on "project horses" owned by others in order to rehabilitate and retrain them, and leased horses temporarily. When I was younger, my mother financially supported this, but when our situation no longer warranted spending several hundred dollars a month for me to ride, I got my own job and began to pay the expenses myself, as riding is incredibly important to me. In August 2016, I happened to get extremely lucky, when a girl I rode with years earlier (we can call her Katie) messaged me on Facebook offering me one of her two horses as a "free lease" in which I would pay her no money for everyday use of the horse, and only pay his expenses. It worked out for her, because while she was in college, she wouldn't have to pay for a second horse, and he would stay in work. It worked out for me, because I would have a horse to work with and ride for the duration of the school year.

I said yes to her offer and have absolutely fallen in love with the horse, Fizz, and have juggled being in school (an AP student in my senior year,) working a job in retail, and riding 5 days a week. I have given up competing, as that is too expensive on top of everything else I am paying for. I am currently working two jobs to pay $750 / month for board plus paying for my gas and any other miscellaneous expenses I may have. I am essentially going paycheck to paycheck, however having a horse "of my own" has been more than worth it.

When I committed to Roanoke, however, I assumed that my career in horses would be ending, as my lease on Fizz would be ending and I would be moving 3.5 hours from home and starting a new chapter of my life.

However, two weeks ago, Katie sent me a message regarding Fizz. Knowing I would be moving off to school and ending my lease, she informed me that when I am to end my lease, she will be putting Fizz on the market as she no longer has time for him and she can't afford to keep him around. But (and even typing this out now feels too good to be true) she said, that having watched Fizz and I form a partnership over the past months, she wanted to first offer him to me, free of charge, to own permanently, before listing him. Keep in mind that Fizz is a significantly fancier horse than any I have worked with in the past - for those of you who know horses he is an OTTB who has competed Preliminary level in the past. He is 12 years old and an incredibly easy keeper, clean vetting, great confirmation, sweet personality, and all around a fantastic horse to work with. All Katie would ask is a bill of sale for $0.01 for legality purposes and Fizz would be mine.

As much as this offer is too good to be true, I obviously have a lot to take into consideration. I have toured a barn in the Roanoke area and have absolutely fallen in love with it as well. It's about 15 minutes from the school and I have already talked to the owner about moving Fizz there hypothetically and there is, in fact, a stall open. My mother is open to the idea, under the assumption that I pay every single solitary one of his expenses and keep my grades afloat and prioritize my education of course.

So! Here is where I come to you, reddit, in search of decision making advice.

Time wise: I have been making it work balancing school, work, and riding for the duration of my senior year of high school. I feel confident in my ability to continue to manage my time and make it work in college, however I'm open to any remarks any of you have to make in regards to that.

Money wise: Currently, on top of financing my miscellaneous expenses (food, etc) and gas for my car, I'm paying $750 / month for boarding my horse. I work a job in retail as well as freelance photography and website work. I want to work in college and have already been scouting the Roanoke area for jobs to set up in advance. Board at the barn in Roanoke is $480, however I would also have to pay for shoeing (which my mom currently pays for here, because I simply cannot possibly) which is $150 every 8 weeks. Furthermore, I would have to pay vet expenses, including seasonal worming and bi-annual shots, as well as teeth floating, coggins retesting, and any emergency visits which are ALWAYS a possibility.

In terms of equipment, I already own everything. Full sets of tack, all weights of blankets, grooming and vet supplies, etc. Nothing would need to be purchased for the horse. However, I don't own a trailer. There would be no problem getting a friend to help haul him up there / back home in the summer, however it is still a factor to take into consideration.

One other note is that if I do decide to take on this horse, I will have to pay the barn in Roanoke $240 for the month of July to hold my spot at the barn until August 1 which is when I would move him in. So for July, I would be paying $240 + $750, and then for August I would only be paying $480 monthly until the end of the school year.

Essentially what I need advice on is wether or not this is logical and feasible for someone in my situation. I am a person who LOVES working and LOVES horses, but I don't want to get in over my head, especially when also starting college. I feel confident in my ability to do it, but I could also just be wishful thinking because of the fact that owning a horse, especially one like this, is my dream. Having a horse at college would be such a comforting sense of familiarity for me, and as my boyfriend has pointed out, I could always lease Fizz out if I ever feel as if I can't keep up, which would allow me to build up my income and have a little more free time. I really appreciate any and all advice you have on this situation!

Thank you!

TL;DR: I'm 18, going to college, would love to own a horse, have been working my butt off the last 8 months to lease a horse, and have been offered to own said horse (too good to be true.) Costs of owning that horse in my new location would be lower than what I am currently paying, however, that is a liability to take on and I am only a college student. Should I say yes or no?

# ? Aug 3, 2017 19:22

BonerGhost: Mar 9, 2007

gently caress it, take the horse, kid. Spend that extra year in college.

# ? Aug 3, 2017 19:36

Twerk from Home: Jan 17, 2009; This avatar brought to you by the 'save our dead gay forums' foundation.

Can a horse person explain to me what "teeth floating" and "coggins" are, and how often horses need them?

# ? Aug 3, 2017 19:39

Folly: May 26, 2010

Twerk from Home posted:

Can a horse person explain to me what "teeth floating" and "coggins" are, and how often horses need them?

This please.

BWM thread: Reddit /r/personalfinance: search results - buy|own "a horse"

# ? Aug 3, 2017 19:43

CharlestonJew: Jul 7, 2011; Illegal Hen

Twerk from Home posted:

Can a horse person explain to me what "teeth floating" and "coggins" are, and how often horses need them?

heh, bet this horse noob doesn't even know what a hoof slabber is

# ? Aug 3, 2017 19:49

Nail Rat: Dec 29, 2000; You maniacs! You blew it up! God damn you! God damn you all to hell!!

Twerk from Home posted:

Can a horse person explain to me what "teeth floating" and "coggins" are, and how often horses need them?

Since I doubt anyone who actually could answer those hasn't been shamed away from the BWM thread already:

http://lmgtfy.com/?q=horse+teeth+floating

http://lmgtfy.com/?q=horse+coggins

# ? Aug 3, 2017 19:51

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Teeth floating is shaving your horse's teeth.

Their teeth keep growing, like rodents, and if you don't periodically shave them they can get too big to chew properly and the horse dies.

(My cousin got an equestrian scholarship to college - GWM - but is living with my aunt and uncle still because horse rent is more than a mortgage - BWM)

# ? Aug 3, 2017 19:52

monster on a stick: Apr 29, 2013

Also she failed to budget for mane extensions.

# ? Aug 3, 2017 19:53

Ashcans: Jan 2, 2006; Let's do the space-time warp again!

Twerk from Home posted:

Can a horse person explain to me what "teeth floating" and "coggins" are, and how often horses need them?

Please don't call us 'horse people', we prefer to be called 'centaurs'.

quote:

To float a horse's teeth certainly sounds funny, too. Floating means to smooth or contour your horse's teeth with a file (called a "float"). Unlike your own teeth, your horse's teeth keep growing. At times, your horse's teeth may develop sharp edges, making it difficult for her to chew food, hold a bit, or simply have pain and discomfort inside her mouth.

The vet or equine dentist will carefully file all your horse's teeth that need smoothing to achieve a flat grinding surface between the upper and lower teeth. Having your horse's teeth floated is well worth it so she digests her food better, is in better spirits, and makes riding more enjoyable for you both.

How often floating teeth is necessary varies quite a bit from one horse to another. Some horses seem to have slower-growing teeth and may require floating only once every several years while others may require floating every few months. Even if your horse does not require her teeth to be floated often, it is still a good idea to have her teeth and gums examined once a year.

quote:

The Coggins test detects a disease in horses called EIA. EIA stands for Equine Infectious Anemia and is a blood-based parasite that is transmitted through mosquito bites between horses. Because EIA is incurable and fatal in 30-50% of the cases, a negative Coggins test (often referred to as a "Coggins paper") is generally required before a horse can be transported across state lines, shown, bred or moved into a new barn or stable.

tl;dr: Horses are essentially a pile of health complaints and chornic conditions stitched together into a temperamental lump of self-destruction and you have to fastidiously maintain their entire body for them or they'll die as soon as they can.

# ? Aug 3, 2017 19:55

Virtue: Jan 7, 2009

Have we had any crazy horse guy stories yet? Why are the crazy horse people always girls?

# ? Aug 3, 2017 19:56

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Virtue posted:

Have we had any crazy horse guy stories yet? Why are the crazy horse people always girls?

The BWM Patriarchy.

# ? Aug 3, 2017 19:56

Randler: Jan 3, 2013; ACER ET VEHEMENS BONAVIS

How did horses survive before domestication at all? Were wild horses so much different from modern day horses? I mean, I'd expect an animal with growing teeth to use those teeth up enough by eating so that it doesn't require regular human interventions.

# ? Aug 3, 2017 19:57

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Randler posted:

How did horses survive before domestication at all? Were wild horses so much different from modern day horses? I mean, I'd expect an animal with growing teeth to use those teeth up enough by eating so that it doesn't require regular human interventions.

Same way that gerbils survive in the wild.

Grinding your teeth by chewing hard substances and breeding faster than you can kill yourself.

# ? Aug 3, 2017 19:58

crazypeltast52: May 5, 2010

Randler posted:

How did horses survive before domestication at all? Were wild horses so much different from modern day horses? I mean, I'd expect an animal with growing teeth to use those teeth up enough by eating so that it doesn't require regular human interventions.

I assume we selected for individuals that are less apt to survive in the wild. Also I assume feed is less abrasive to teeth than foraging in the wild.

Wild horses seem to do ok, so maybe domesticated horses are the bulldogs of the equine world?

# ? Aug 3, 2017 19:59

canyoneer: Sep 13, 2005; I only have canyoneyes for you

Virtue posted:

Have we had any crazy horse guy stories yet? Why are the crazy horse people always girls?

The only men I've ever known who were horse enthusiasts were either breeders, working on them (ranch stuff), or competing in rodeos or races with them.
Edit:
I've known plenty of horse ladies that describes too, but have literally never met anyone who has a horse for funsies who isn't a lady

# ? Aug 3, 2017 20:01

Virtue: Jan 7, 2009

Ignore

# ? Aug 3, 2017 20:03

Virtue: Jan 7, 2009

Virtue posted:

Have we had any crazy horse guy stories yet? Why are the crazy horse people always girls?

I just asked a colleague with a grad degree in psych and he made a big dick joke. But he does that a lot regardless.

# ? Aug 3, 2017 20:04

Ashcans: Jan 2, 2006; Let's do the space-time warp again!

Horses were a big thing for guys as well until vehicles got faster/better, I think. Basically 200 years ago every dude who spends too much on his truck would be telling you how he is getting a bigger, younger horse that costs too much, but it makes sense because he's sure he'll use it for work as well.

# ? Aug 3, 2017 20:27

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

The '08 Mules are in. Hoof-mouth no longer standard.

1808

# ? Aug 3, 2017 20:33

crazypeltast52: May 5, 2010

Ashcans posted:

Horses were a big thing for guys as well until vehicles got faster/better, I think. Basically 200 years ago every dude who spends too much on his truck would be telling you how he is getting a bigger, younger horse that costs too much, but it makes sense because he's sure he'll use it for work as well.

There was an article written around then end of Pontiac with an old timey quote saying that the poems are only written about war, women and horses.

Edit: Apparently there was a poem by Kipling with a line about "Women and Horses and Power and War".

crazypeltast52 fucked around with this message at 20:46 on Aug 3, 2017

# ? Aug 3, 2017 20:43

monster on a stick: Apr 29, 2013

Horses and trucks!

https://www.reddit.com/r/personalfinance/comments/6reu6o/24k_into_my_truck_and_the_money_pit_only_seems_to/ posted:

$24k into my truck, and the money pit only seems to be growing.

I was driving a 2006 Ram 3500 and it had its little issues I didnt think to much of. For instance, I had a battery overcharge and catch on fire ($150). That was the first of the electrical issues that Ive faced. Later on down the line, my engine (24v 5.9l cummins), decided it wanted to just give up on me. I wanted to just try and fix the engine but ended up replacing the engine and a few other things that were on their way out also for a total of $12,000. Now Im $24,000 into the truck and Im having more issues. I do not know where theyre going to stop, and I dont know what to do because I rodeo for income currently and i dont have a truck that i can haul long distances with. Any recommendations are appreciated. Thanks in advance.

# ? Aug 3, 2017 20:44

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# ? May 30, 2024 16:00

Barry: Aug 1, 2003; Hardened Criminal

quote:

equine dentist

GWM or BWM?

# ? Aug 3, 2017 21:23

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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