Twerk from Home posted:

Oh, if he's actually the guy that runs the biggest one of those services, then yes he could be making 40x the rent. He's acting directly as a money launderer for foreign nationals.

blah_blah posted:

It's really hard to get off the treadmill when your comp keeps going up and up even as the hours and stress get worse and worse. Congrats to her on actually doing that.

SquirrelFace posted:

A big thing around here is mini horses. All the expense of a horse, none of the utility. Can't even ride them! They're really cute though...

Nail Rat posted:

As they'd have to be bred specifically for that (read: inbred) I'm sure they actually are even more expensive than regular horses with even more maladies.

ohgodwhat posted:

"I signed something to share the responsibility for payments so that the bank would actually agree to the loan, but now that the exact situation for which they required a cosigner occurs, I would like to renege. "

What do people think they're doing when they cosign? Do they even wonder why a bank is suddenly cool with giving someone money once someone else cosigns for it? Do they think it's the bank going, "hey family member, is this person totally cool with money? yes? ok, great, your totally unbiased opinion means a lot to us, here's $50k"

monster on a stick posted:

They may be service animals.

Krispy Kareem posted:

I’m on mobile or I’d post that Mad Max bait gif.

Krispy Kareem posted:

I’m on mobile or I’d post that Mad Max bait gif.

Mokelumne Trekka posted:

My partner and I have an income less than 100k and I can't comprehend having kids until or if we hit that mark. I feel that not having them is the best decision I've made despite immense pressure & expectation from society.

LLCoolJD posted:

What income brackets do you think are having all the children? Somehow, they aren't starving to death (but they might have to drive an older, base model Camry).

meat police posted:

Sex is fun and free, I can see why it happens.

LLCoolJD posted:

What income brackets do you think are having all the children? Somehow, they aren't starving to death (but they might have to drive an older, base model Camry).

NYTimes posted:

Ms. Schairer’s rent consumes more than half her income, and she scrapes by on food stamps.

“I see Chris’s kids — they’re in swimming and karate and baseball and Boy Scouts, and it seems like it’s always her or her husband who’s able to make it there,” Ms. Schairer said. “That’s something I wish I could do for my kids. But number one, that stuff costs a lot of money and, two, I just don’t have the time.”

She got pregnant during her first year of college, left school and stayed in a troubled relationship that left her with three children when it finally collapsed six years ago. She has had little contact with the children’s father and receives no child support. With an annual income of just under $25,000, Ms. Schairer barely lifts her children out of poverty, but she is not one to complain. “I’m in this position because of decisions I made,” she said.

Mokelumne Trekka posted:

I thought this thread was voyeurism for bad decisions.

Such as:


http://www.nytimes.com/2012/07/15/us/two-classes-in-america-divided-by-i-do.html

Mokelumne Trekka posted:

I see a lack of frank discussion on this topic in society, and I think this tragedy just perpetuates itself at least slightly because no one wants to talk about it. Having a kid is like getting a Mercedes. In hindsight I do feel like an rear end in a top hat now, so there's that.

https://www.reddit.com/r/personalfinance/comments/6rsinz/on_life_with_a_negative_net_worth/ posted:

On life with a negative net worth (self.personalfinance)

submitted 2 hours ago by WhiteWaterLawyer

I have a significantly negative net worth, mostly from student loans on my professional degree.

I feel like common financial wisdom is to live like a monk until debt free. But is that really necessary?

I keep a detailed spreadsheet about my finances and projections range from depressing to great depending on the huge variable that is my income. The legal job market has been pretty bad the last few years and so far I've made less per year in the four years since law school than I did in the four years before it. Part of my debt is from definitely living beyond my means in that time; I had acclimated to a certain lifestyle before school and didn't downgrade it until recently when the reality of being a poor lawyer finally sank in.

Now I've finally gotten a job with a decent pay scale and a good workload, and I'm looking at my income increasing significantly. My income is finally "stable" on a draw salary and based on the trend so far it's looking like my income will be five figures monthly by early spring.

My plan is to aggressively attack debt, but I am also planning a few purchases that might seem indulgent. Is it necessarily wrong for me to spend some of my income on comfort while still in the early stages of debt elimination?

The planned indulgence is a custom RV that I will use as a mobile office and to promote my business. I travel a lot because of both work and my hobbies (whitewater and law) and an appropriate vehicle would make that travel a lot more comfortable, but is undeniably a big chunk of change. I view the purchase as part of my early retirement plan as I will definitely be spending much more time in it once I get to true financial independence. With the RV and conservative projections of my income (August has already blown past the conservative projections by almost double) I would reach my definition of retirement 11 years from now; without the RV I could do it in ten. The RV would delay the debt-free (except student loans which I am leaning toward staying on IBR with) timeline from 18 months to 2 years. I am comfortable with that tradeoff because while I am getting better at deferring gratification, I am tired of being poor.

Am I wrong to think like this, or is this an acceptable part of coming up with my own individual plan?

quote:

https://www.reddit.com/r/personalfinance/comments/6rsinz/on_life_with_a_negative_net_worth

monster on a stick posted:

My income is finally "stable" on a draw salary and based on the trend so far it's looking like my income will be five figures monthly by early spring.

ate all the Oreos posted:

That's not funny bad with money that's tragic bad with money

quote:

After Ms. Schairer had an operation for cervical cancer last summer, the surgeon told her to take six weeks off. She went back to work five weeks early, with a rare flash of class anger. “It’s easy when you make $500 an hour to stand there and tell me to take six weeks off,” she said. “I can’t have six weeks with no pay.”

Mokelumne Trekka posted:

I see a lack of frank discussion on this topic in society, and I think this tragedy just perpetuates itself at least slightly because no one wants to talk about it. Having a kid is like getting a Mercedes. In hindsight I do feel like an rear end in a top hat now, so there's that.

22 Eargesplitten posted:

Yesterday I was unemployed, now I work at McDonalds for $9/hr. Therefore tomorrow I will make infinity dollars.

Pompous Rhombus posted:

Folly posted:

Dude is literally gonna go live in a van down by the river.

curufinor posted:

rename thread to "schadenfreude w/ money"?

quote:

This thread is BFC's home for poking fun at the wide world of Bad With Money (BWM): six figure earners who live paycheck to paycheck, poetry majors with $120K in student loan debt, Silicon Valley venture capital flops, and everything in between.