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.

«‹›676 »

Motronic: Nov 6, 2009

Buying a New Phone
https://www.reddit.com/r/personalfinance/comments/70jshs/buying_a_new_phone/

quote:

I was looking into buying a new phone, more specifically the note 8. As of now Samsung has a pay as you go plan ($34 a month for 2 years 0% APR) It's a $999 a phone. I currently work at a local pizza joint where I make 10$ an hour 5 days a week (220 hours estimate). Is this a good decision to make or should I not go for it?

# ? Sep 16, 2017 23:51

Adbot: ADBOT LOVES YOU

# ? May 31, 2024 21:36

lament.cfg: Dec 28, 2006; we have such posts
to show you

It's only 3.4 hours of work a month out of his 220 :suicide101:

# ? Sep 16, 2017 23:58

Shipon: Nov 7, 2005

Motronic posted:

Buying a New Phone
https://www.reddit.com/r/personalfinance/comments/70jshs/buying_a_new_phone/

drat, paying $999 for a Samsung phone. Now that's BWM.

# ? Sep 17, 2017 01:00

Sic Semper Goon: Mar 1, 2015; Eu tu?; Switchblade Switcharoo

Shipon posted:

drat, paying $999 for a Samsung phone. Now that's BWM.

Only the finest incendiary devices will char my skin, thank you very much.

# ? Sep 17, 2017 02:24

cosmic gumbo

Mar 26, 2005

IMA

GRIP

SIP

It's hard not to bold this whole post.

https://np.reddit.com/r/RealEstate/comments/70fpyw/my_bf_and_i_are_buying_our_first_house_together/

quote:

Like I said, we're looking at one that is only about 1/3 higher than our budget called for. But this house is adorable and absolutely perfect. I've already shown my mom and sisters and they agree with me. It's basically everything I've ever wanted and it's not even that big but I'm ok with that. The inside is completely redone too.

Bf however is skeptical and is only interested in a few that are pretty drab tbh, although fall right in the middle of our budget. None of them are good enough to actually live in though, not even for a short time before upgrading. And he knows how I feel about this. I also hate hate hate moving and all the lost expenses to hire movers who inevitably will break things anyways.

So the plan is what my mom and realtor refer to as "growing into it financially." My bf is looking to get a decent raise in a year or two depending on how things work out with his boss. And it would put our income right where it needs to be for this home. A home is an investment, and real estate usually goes up. So it would be a lot better to get this house now than wait two years and get one similar that will probably be a lot more expensive. It's like getting into an investment early. It's also an investment in our relationship. But from a logical standpoint, it's the financially wise move, so our home can grow in value and we'll look back knowing we got it on the cheap. I've already explained all of this to him.

He's worried about "stress" because in order to make the mortgage payments work he'd have to cut back on most unnecessary luxuries he does in his spare time. I'm already pretty thrifty and have agreed to going out to dinner only twice a month and on special occasions. With a little hard work and wise spending the numbers do work out and we'll be able to make the payments on it. The problem is he's thinking short-term and being "financially stressed" as he says and I'm looking at a long-term investment opportunity for the both of us.

Please tell me in better ways than I know how to say about the advantages of working hard and making sacrifices when you're young for long-term financial gains.
On a second note, I've told him we're going to both be on the deed, or title, or whatever it's called since we're doing this together as a couple. Due to some medical and legal issues I'm not actually able to work and don't have credit to get a loan, we're on a single income but I'll be supporting the home. He told me it's not really necessary for me to be on the title since he'll be paying and taking out the loans, but there's definitely an advantage to both people being on it I'm sure. I'm assuming it's better for taxes, or if something happens to one of the people the other has the legal ability to make decisions or whatnot, but please let me know all of the advantages of having both people on the title.

I'm currently living at home and it's getting old fast. He's only in a one-bedroom apartment right now while we've been saving for the down payment and it's frankly too small for the both of us. So we're trying to get this done fast. And I don't know how long this gem is going to last for if we don't make an official offer soon. My realtor suggested we even offer a little above asking price so it doesn't get taken by someone paying with all cash.

I'll be showing him all the best replies directly, I'll print them.

Thank you.

tl;dr Looking to make a long-term housing investment that we'll grow into financially. Bf is on the fence and I'm giving him all the reasons why it makes the most sense financially. Also looking for the advantages of both of us being on the title to help him make his decisions.
Edit: We're in the USA

quote:

[�]BfWants [S] -4 points 11 hours ago
I'm committed in this relationship and we're doing this together. That's how it works.
My mom has her own house with my dad and my sisters have their own things going, none of them are apart of this besides my real estate agent who is a good friend of my mom's.

quote:

I didn't pay my credit cards because I didn't have any money. Not because I was unorganized with the bills.
I'm more organized than he is and I'll be taking care of the finances so he doesn't have to worry about them.

quote:

I'll be in charge of making sure the automatic payments are done right, and that will even leave me time to focus on other things related to the house.
Also, the repairmen aren't going to accept automatic debit payments obviously, there will be a lot of check-writing and balancing.

# ? Sep 17, 2017 03:16

DarkHorse: Dec 13, 2006; Vroom vroom, BEEP BEEP!; Nap Ghost

DarkHorse posted:

In BWM news, my cousin buttonholed me at the family reunion to talk about this great new opportunity he was interested in, FlipYourCapital.com! (.org? I dunno, it was FlipYourCapital though)

Some backstory: he's a high-energy person that I'm almost certain has serious ADHD, did poorly in school but great in sports. He joined the Army, served as a cook, and was discharged after he got run over by a parked truck. He was seriously injured (as in hospitalized for months, nearly had an arm amputated, still not 100%) and is almost certainly getting VA disability, though with rehab he's been able to work in a casino as a head cook.

He supports his recently-naturalized wife and their two kids, one of whom has an autoimmune disorder that is causing his liver to fail. The kid has had more surgeries than anyone I know of and is back on the transplant list after a surgery that removed most of his colon to try to help with said liver failure stopped working.

Based on the name my cousin mentioned I figured it was the typical house-flipping scam: buy foreclosed property at a discount, do the bare minimum of cheap work that makes it looks nice but just hides all the problems, sell for a profit and run before your pasteboard repairs fall down. But it was so much much worse than that.

This cousin was telling me all about this thing where you provided capital to a property management group and they did all the work buying cheap foreclosed homes, finding tenants and renting them while you collected your share of the rents.

I asked him basic questions like "Who cleans and repairs the abandoned properties?" and "What if the renters default?" and "Who is legally responsible or liable for the properties?" and he said "They kick them out for you, and here's the best part: they give them a rent to own contract and let them do all the improvements, but if they miss a payment they're evicted and you get to keep the improvements! Then they find a new renter and repeat!"

My face:

"That sounds horribly illegal and even if it wasn't, horribly unethical and it should be shut down." To which he replied,

"No don't you see, they're helping people, but only the ones that have their poo poo together. drat government, always getting in the way, helping people that don't deserve it."

Bonus BWM: his wife bought into Avon or Mary Kay big time, the idea being she could "work from home" and care for their sick child. Lo and behold everyone is getting lotion and shampoo for Christmas presents for the last five years as she starts liquidating her stock. When he first started talking I was worried it was another MLM, because he started with the whole "making a money pipeline" analogy, "make your money do the work." His wife is really nice at least

(Other problems I foresaw with his pitch: I doubt these "repairs and improvements" are going to be by licensed experienced contractors, and I've seen enough DIY work that the odds the improvements actually increase the house's livability or value are 0%, and I bet that any money you provide comes with you assuming all of the legal risk, plus all the problems that come from becoming a slumlord, ethical legal and moral)

My cousin just called me. He bought a house yesterday and was asking me what was involved in doing permits for renovations. He didn't even get that figured out before making a huge financial commitment and doesn't know if he needs to hire an engineer to make drawings, approve permits, or anything else. :cripes:

He also asked if I, as an engineer, could make and approve drawings for him. I could not NOPE NOPE NOPE fast enough.

# ? Sep 17, 2017 03:25

Shame Boy: Mar 2, 2010

Drunk Tomato posted:

That guy is the biggest douche and I hope the government goes down on him hard. Why do people watch his stupid poo poo and support him. YouTube is a plague on humanity.

LOLOL and in his video he mentions starting a Kickstarter to help pay his tax bill. What an idiot.

He's kinda cute and edgy (he hangs out with ~goths~ in some of the videos I think?) but safe about it (he is not himself dressed goth) so if you're a 14 year old girl he's enough to piss off your parents but not enough to scare you away

# ? Sep 17, 2017 03:25

Shame Boy: Mar 2, 2010

DarkHorse posted:

My cousin just called me. He bought a house yesterday and was asking me what was involved in doing permits for renovations. He didn't even get that figured out before making a huge financial commitment and doesn't know if he needs to hire an engineer to make drawings, approve permits, or anything else.

He also asked if I, as an engineer, could make and approve drawings for him. I could not NOPE NOPE NOPE fast enough.

Tell him to take the PE exam and approve everything himself like grover.

Also get him an account so we can follow the progress

# ? Sep 17, 2017 03:26

SpelledBackwards: Jan 7, 2001; I found this image on the Internet, perhaps you've heard of it? It's been around for a while I hear.

Drunk Tomato posted:

That guy is the biggest douche and I hope the government goes down on him hard. Why do people watch his stupid poo poo and support him. YouTube is a plague on humanity.

I think you mean "I hope the government comes down on him hard". Although neither sounds good written, now that I think about it.

# ? Sep 17, 2017 06:06

Hoodwinker: Nov 7, 2005

Wasting your time correcting somebody else's grammar on SA is BWL and so is my even making a post to respond to this ugh gently caress

# ? Sep 17, 2017 15:54

Motronic: Nov 6, 2009

Uterine Lineup posted:

It's hard not to bold this whole post.

https://np.reddit.com/r/RealEstate/comments/70fpyw/my_bf_and_i_are_buying_our_first_house_together/

This is a caricature of the nightmare entitled, lazy, delusional SO and has to be a troll. It hits every last hot button. Some of the comments are just great.

# ? Sep 17, 2017 16:13

silvergoose: Mar 18, 2006; IT IS SAID THE TEARS OF THE BWEENIX CAN HEAL ALL WOUNDS

Hoodwinker posted:

Wasting your time correcting somebody else's grammar on SA is BWL and so is my even making a post to respond to this ugh gently caress

I think it was an excuse to call attention to the original wording sounding like oral sex.

# ? Sep 17, 2017 16:15

Jan: Feb 27, 2008; The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.

Uterine Lineup posted:

It's hard not to bold this whole post.

https://np.reddit.com/r/RealEstate/comments/70fpyw/my_bf_and_i_are_buying_our_first_house_together/

I think The Offspring wrote a song about this person.

# ? Sep 17, 2017 16:32

Fil5000: Jun 23, 2003; HOLD ON GUYS I'M POSTING ABOUT INTERNET ROBOTS

Jan posted:

I think The Offspring wrote a song about this person.

She doesn't seem very fly AT ALL.

# ? Sep 17, 2017 16:54

Drunk Tomato: Apr 23, 2010; If God wanted us sober,
He'd knock the glass over.

SpelledBackwards posted:

I think you mean "I hope the government comes down on him hard". Although neither sounds good written, now that I think about it.

I know what I said

:bigtran:

# ? Sep 17, 2017 17:35

BEHOLD: MY CAPE: Jan 11, 2004

Motronic posted:

This is a caricature of the nightmare entitled, lazy, delusional SO and has to be a troll. It hits every last hot button. Some of the comments are just great.

I think it sounds like a troll but r/realestate isn't exactly a super hot high traffic sub so who knows

# ? Sep 17, 2017 17:38

feller: Jul 5, 2006

Fil5000 posted:

She doesn't seem very fly AT ALL.

# ? Sep 17, 2017 17:58

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

FrozenVent posted:

It's a perfectly cromulent business!

This guy pitched his company at a competition I was judging. He talked about Everest a lot, and did not win.

# ? Sep 17, 2017 18:01

Motronic: Nov 6, 2009

BEHOLD: MY CAPE posted:

I think it sounds like a troll but r/realestate isn't exactly a super hot high traffic sub so who knows

It started out in /r/pf and was blasted out of the sub.

https://www.reddit.com/r/personalfinance/comments/70fa8g/my_bf_and_i_are_buying_our_first_house_together/

Some more great comments from the OP in there. In regards to: and what sacrifices are you making?

quote:

We go out to eat a lot, I agreed that we'd only go out twice a month and on special occasions. And he'd be working a lot, and a house is a lot of work, I already know that, so I'd be taking care of a lot of stuff around the house when he's not there. And managing all the bills. And be around when repairmen or whoever need someone there to fix things. And being without him around and by myself bored while he's working even more hours than usual because he said he'd have to start trying to work more overtime if we were going to do this. Just to name a few.
We're in this together and we would both be doing our parts and what we can and making sacrifices together.

This is coming from someone who lives at home and apparently too morbidly obese to get a job.

The entire thing reads like a combo r/pf r/relationships bingo game.

Motronic fucked around with this message at 19:03 on Sep 17, 2017

# ? Sep 17, 2017 19:01

22 Eargesplitten: Oct 10, 2010

"I don't work and my husband's first prospects for a raise are in two years, but I want to buy a house that's completely out of our price range. Anything less is completely unlivable, and a real estate agent who gets a cut of the purchase says I should buy the more expensive one. I should trust them because they sell houses all the time. Also I'm not going to show him any answers that I don't like, because obviously I'm in the right and you all are dumb."

# ? Sep 17, 2017 19:10

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

I like the part where the lady who should not be trusted with finances is going all, "oooooooookay...I'll be in charge of the money...to help you."

# ? Sep 17, 2017 19:44

blackmet: Aug 5, 2006; I believe there is a universal Truth to the process of doing things right (Not that I have any idea what that actually means).

Fil5000 posted:

She doesn't seem very fly AT ALL.

It's ok, cause he got no self-esteem.

Why else would a (likely) 20-something man be with a morbidly obese woman with no job, no education, no skills, and a big entitlement complex?

# ? Sep 17, 2017 20:12

Devian666: Aug 20, 2008; Take some advice Chris.; Fun Shoe

19 o'clock posted:

Did we already post the thrilling conclusion to Onision's aggressive tax stances?

https://youtu.be/v2FWNZhyPLY

Edit: I think this has been posted already. I guess I'm just seeing it for the first time now and holy moly, this individual is pretty entitled to think that his own logic warrants a pass on federal tax laws.

quote:

I wish someone told me this.

That's what happens when you don't have an accountant, and if you do and don't ask them questions. It turns out that being a dumb youtuber doesn't qualify you as an accountant. I like that at the end of the video he turns into a whinging teabagger that doesn't want to pay taxes.

# ? Sep 17, 2017 21:04

olylifter: Sep 13, 2007; I'm bad with money and you have an avatar!

22 Eargesplitten posted:

"I don't work and my husband's first prospects for a raise are in two years, but I want to buy a house that's completely out of our price range. Anything less is completely unlivable, and a real estate agent who gets a cut of the purchase says I should buy the more expensive one. I should trust them because they sell houses all the time. Also I'm not going to show him any answers that I don't like, because obviously I'm in the right and you all are dumb."

Also even though I won't be financially contributing to the house I'm going to be on the title.

# ? Sep 17, 2017 21:13

ohgodwhat: Aug 6, 2005

Uh it's in return for her investment into the relationship.

I wonder why his investment in the relationship and 100% investment into the house only entitles him to half?

# ? Sep 17, 2017 21:19

dougdrums: Feb 25, 2005; CLIENT REQUESTED ELECTRONIC FUNDING RECEIPT (FUNDS NOW)

Devian666 posted:

That's what happens when you don't have an accountant, and if you do and don't ask them questions. It turns out that being a dumb youtuber doesn't qualify you as an accountant. I like that at the end of the video he turns into a whinging teabagger that doesn't want to pay taxes.

It's really easy to get out of paying taxes, you just have to go to a consulate and revoke your citizenship duh

# ? Sep 17, 2017 21:35

ohgodwhat: Aug 6, 2005

I thought you couldn't if they think you're doing it for the purpose of avoiding taxes...

# ? Sep 17, 2017 21:44

dougdrums: Feb 25, 2005; CLIENT REQUESTED ELECTRONIC FUNDING RECEIPT (FUNDS NOW)

https://en.wikipedia.org/wiki/Eduardo_Saverin#Renunciation_of_U.S._citizenship Sort of.

:thejoke:

vvv I mean, I bet you could probably convince the guy though.

dougdrums fucked around with this message at 00:13 on Sep 18, 2017

# ? Sep 17, 2017 21:57

Devian666: Aug 20, 2008; Take some advice Chris.; Fun Shoe

dougdrums posted:

It's really easy to get out of paying taxes, you just have to go to a consulate and revoke your citizenship duh

Leaving the US to pay taxes somewhere else can be GWM. However given the low taxes paid by US Citizens that's kind of limiting, and renouncing citizenship might not be a good idea for many.

# ? Sep 18, 2017 00:02

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

olylifter posted:

Also even though I won't be financially contributing to the house I'm going to be on the title.

Isn't that the case for pretty much every couple with a stay-at-home person?

# ? Sep 18, 2017 00:06

FrozenVent: May 1, 2009; The Boeing 737-200QC is the undisputed workhorse of the skies.

Devian666 posted:

Leaving the US to pay taxes somewhere else can be GWM. However given the low taxes paid by US Citizens that's kind of limiting, and renouncing citizenship might not be a good idea for many.

There's pretty much no good reason to renounce a US citizenship, unless it's to gain citizenship in another country that requires you to do so.

# ? Sep 18, 2017 01:34

JewKiller 3000: Nov 28, 2006; by Lowtax

FrozenVent posted:

There's pretty much no good reason to renounce a US citizenship, unless it's to gain citizenship in another country that requires you to do so.

doesn't the usa tax its overseas citizens, even though the income was not made in the usa?

# ? Sep 18, 2017 01:38

Mantle: May 15, 2004

JewKiller 3000 posted:

doesn't the usa tax its overseas citizens, even though the income was not made in the usa?

This is a huge reason to let go of US citizenship.

# ? Sep 18, 2017 01:54

Hoodwinker: Nov 7, 2005

JewKiller 3000 posted:

doesn't the usa tax its overseas citizens, even though the income was not made in the usa?

You get taxed on income above $100k earned. It's perfectly feasible to live a life overseas and not hit that.

# ? Sep 18, 2017 02:00

Noctone: Oct 25, 2005; XO til we overdose..

yeah unless you're making beaucoup bucks it's really not enough of a problem to be worth renouncing

# ? Sep 18, 2017 02:04

Devian666: Aug 20, 2008; Take some advice Chris.; Fun Shoe

FrozenVent posted:

There's pretty much no good reason to renounce a US citizenship, unless it's to gain citizenship in another country that requires you to do so.

As the above posts point out you have to make a massive amount of money for it to be worthwhile. Even then you'd lose the benefits of the passport and if you become a hostage or need to evacuate a country you won't necessarily get any support.

# ? Sep 18, 2017 02:10