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Pekinduck posted:It should be a requirement to actually work in a restraunt before you start one. 99% would never want anything to do with a restraunt again, 1% would be insane enough to actually have what it takes. The market takes care of that problem. Gettin' pummeled in the face by the invisible hand over the course of a few months after putting your life savings into a tapas and olive bar is a cruel lesson.
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Nov 6, 2017 20:12
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You buried the lede. quote:Me: *stammering* “You bought yourself a new purse? Well, I would highly recommend that you return it so you can pay the shop.” That's the magic phrase that allows you to discontinue the call and possibly their contact.
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Nov 6, 2017 20:29
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Haifisch posted:And it'd need to be actual work, not the "faff around making salads and chopping vegetables for three months" thing the dude in the Toronto story did. Yeah really , he actually had a golden opportunity to see first hand how a restaurant runs top to bottom and he just did the bare minimum.
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Nov 6, 2017 20:35
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canyoneer posted:The market takes care of that problem. My theory is that, like the girl who got her eyeballs tattooed, these people always need to share their sad stories to warn other people because convincing themselves that really it could happen to anybody is the only way they can get out of bed in the morning. Predictably, the venn diagram overlaps almost perfectly between Dumb People Who Do Dumb Things and People Who Think Cautionary Tales Don't Apply To Them so we'll get stories like these until humans go extinct. quote:I’m sharing my story as a cautionary tale to other amateurs who have big ideas: don’t even think about it. Stick to your dinner parties. You’ll be better off. quote:Catt Gallinger, a 24-year-old from Ottawa, got a new tattoo this month, and it could cost her an eye. The former pet nutritionist received a sclera tattoo, a body modification procedure that involves tattooing the eyeball, and has lost partial vision as a result. There’s a possibility she could end up losing her eye altogether.
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Nov 6, 2017 20:44
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Just the idea of a sclera tattoo is making one of my eyelids twitch involuntarily. 
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Nov 6, 2017 21:00
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Pet nutritionist sounds like a font of BEM right there too.
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Nov 6, 2017 21:00
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FrozenVent posted:Pet nutritionist sounds like a font of BEM right there too. How do you ever think she's gonna get that lucrative career as a Dog Chef unless she puts in the kibble building up experience as a pet nutritionist?
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Nov 6, 2017 21:01
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NUKES CURE NORKS posted:My favorite people who talk about owning a restaurant/bar are the people who have never worked at either. That's my dream. Well, aside from owning a fleet of blimps and taking over the skies of New York as "Sky Admiral Flint Broadside."
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Nov 6, 2017 21:37
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https://www.reddit.com/r/personalfinance/comments/7b6aey/looking_at_paying_6k_for_a_hobby_trying_to_decide/quote:So Ill keep this as short as possible. I am 21 and make 28k take home annually. I live at home with no rent or food expenses. The hobby in question? Paramotoring.
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Nov 6, 2017 21:41
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Drunk Tomato posted:How do I do this? Log onto chase, click "See Balance" under Amazon Prime Rewards in the summary box near the top. Click Redeem > Redeem Rewards. Near the bottom of the next page is a Cash Back box. Click Redeem Now and boom.
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Nov 6, 2017 21:44
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Guinness posted:https://www.reddit.com/r/personalfinance/comments/7b6aey/looking_at_paying_6k_for_a_hobby_trying_to_decide/ This is actually a GWM choice because he can probably kill himself doing that before his debt catches up to him.
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Nov 6, 2017 22:04
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Ashcans posted:Yea, the way that many small restaurants (and really a lot of small businesses) survive is by having the owner put in ridiculous amounts of work with no real commensurate pay. If you can generate 80+ hours of labor below minimum wage (more if you have kids involved!) then you can sure shave down those necessary expenses. This is basically the Canadian dream.
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Nov 6, 2017 22:37
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Guinness posted:https://www.reddit.com/r/personalfinance/comments/7b6aey/looking_at_paying_6k_for_a_hobby_trying_to_decide/ WTF? I was certain it was going to be bitcoin. I wonder if the gear he's buying is from someone who became a paraplegic while paramotoring.
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Nov 6, 2017 23:17
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I don't think this thread takes avocados seriously enough. In New Zealand you protect avocados with razor wire because this is serious business. https://www.stuff.co.nz/auckland/lo...be-investigated The BWM? The price people are paying. quote:Earlier this year, avocado prices reached record highs - selling for more than $7 each.
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Nov 6, 2017 23:37
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Panfilo posted:Just the idea of a sclera tattoo is making one of my eyelids twitch involuntarily. Why does she feel she needs to spread the word about the danger of getting your eye tattooed when that is just self-evident to everyone not insane?
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Nov 6, 2017 23:56
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Enfys posted:Why does she feel she needs to spread the word about the danger of getting your eye tattooed when that is just self-evident to everyone not insane? Careful now, you'll bring down the ultra-defensive wrath of tattooed (not necessarily of the eye) goons.
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Nov 7, 2017 00:03
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Haifisch posted:And it'd need to be actual work, not the "faff around making salads and chopping vegetables for three months" thing the dude in the Toronto story did.
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Nov 7, 2017 00:55
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CannonFodder posted:Yeah, when he said "leisurely chop veggies" I knew he was going to fail. Nothing in the restaurant business is done leisurely, not even the day drinking. Man, he was probably the worst person to work next to. "Yeah I've got big things planned! Thrice fried potato chips. You should have seen it, everyone loved me at the food fair. Why doesn't everyone start their own restaurants?"
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Nov 7, 2017 01:00
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notalwaysright is purestrain stdh.txt. iirc its editors have admitted to embellishing submitted stories before publishing them.
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Nov 7, 2017 01:22
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After a short vignette she yells "AND THAT'S WHY YOU NEVER TATTOO YOUR EYEBALL"
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Nov 7, 2017 01:26
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Guinness posted:https://www.reddit.com/r/personalfinance/comments/7b6aey/looking_at_paying_6k_for_a_hobby_trying_to_decide/ he should just stick to motorboating instead. much cheaper.
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Nov 7, 2017 01:29
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https://www.reddit.com/r/personalfinance/comments/7b6zgi/spouse_just_informed_me_he_accrued_83k_in_debt/quote:My husband just informed me he has spent $83k on credit cards over the past few years. He also has taken a 401k loan of $34k. Obviously I’m floored. He’s always been really bad with money so I’ve had sole control over the finances since we met. But I got lax and started to trust him and this happened. I'm baffled.
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Nov 7, 2017 02:42
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WTF did he spend $117k on without his wife noticing? BWM leaving $400k in gold coins in a safe in your pantry. Super BWM stealing $160k in gold coins and selling just over half of them for $25k. http://www.wftv.com/news/trending-n...k&ICID=ref_fark quote:The 80 coins were worth $2,000 each, totaling a value of around $160,000, according to the arrest report.
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Nov 7, 2017 02:48
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Devian666 posted:WTF did he spend $117k on without his w No kidding. I’m a little confused if it’s $83k in credit card debt, or that’s just how much he spent. I also can’t figure out what the hell she means by $25k in legitimate CC debt. They also bought a house with almost no money down, so it’s obvious that even though she was in charge of the finances, they were still no great at saving money. Edit: their income is $6,810 a month net, but they make a combined $15,580 gross. Something is hosed up here. Bird in a Blender fucked around with this message at 03:18 on Nov 7, 2017 |
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Nov 7, 2017 03:14
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Bird in a Blender posted:They also bought a house with almost no money down, so it’s obvious that even though she was in charge of the finances, they were still no great at saving money. If I understand correctly buying a house with no money down involves significantly higher interest rates. That would make the mortgage payments higher again. There could be some Bad With Mathematics as their income is high but they have no money, and have no idea what they're spending it on. quote:This whole post is one of the weirdest I've ever seen on PF Devian666 fucked around with this message at 03:20 on Nov 7, 2017 |
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Nov 7, 2017 03:17
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Devian666 posted:If I understand correctly buying a house with no money down involves significantly higher interest rates. That would make the mortgage payments higher again. Also involves PMI,which is BWM. The 'legitimate' credit card debt is anything in her name, lol.
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Nov 7, 2017 03:19
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My favourite thing in that idiot's story, besides the fact that he opened up a restaurant at kingston/vic park, which is a biblical level shithole, is that he loving stole 23 grand in taxes that he was supposed to have remitted to the government and tried to hide behind his corporate structure to avoid paying the piper. I worked for a security company a long time ago that got shut because the VP nicked all the payroll tax remittances and put it into his idiot wife's printing company. Security company no longer exists, shockingly. The CRA doesn't have much of a sense of humour.
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Nov 7, 2017 03:23
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It sounds like the $117k has been spent on eating out, various purchases and tyres/parts/fees for racing his car. No wonder all that money is gone it sounds like he's trying to race like a pro without sponsorship, etc.
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Nov 7, 2017 03:25
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OP posted:It was literally having money to pick the tab up at a restaurant with friends, helping his family members out, buying tires for his car to go racing, computer parts, video games, car parts (which were totaled with the car), and junk food. Really nothing of value. I still find it hard to believe gambling and/or drugs doesn't come in there somewhere. OP say she's seen statements, but there's still $34k of 401k loan money unaccounted for.
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Nov 7, 2017 03:31
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Bird in a Blender posted:No kidding. I’m a little confused if it’s $83k in credit card debt, or that’s just how much he spent. I also can’t figure out what the hell she means by $25k in legitimate CC debt. there's also the 401k loan included in that gross -> net calculation.
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Nov 7, 2017 03:34
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Haifisch posted:I still find it hard to believe gambling and/or drugs doesn't come in there somewhere. OP say she's seen statements, but there's still $34k of 401k loan money unaccounted for. Addicted to car racing. Additional BWM is no sponsors and not setting up his hobby as a business to get tax write offs. They've missed out on a good way to mitigate the costs and then financed it all at credit card rates.
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Nov 7, 2017 03:37
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Phanatic posted:If it were a better friendship the guy would have said "No." Giving more rope to someone who is trying to tie a noose around his own neck isn't a great thing to do. If this guy had to go out and get a real job in a restaurant to get enough experience for his liquor license, instead of just dicking around doing light prep work at his friend's place, he might have realized that the restaurant work is actually hard work and not just something you can cruise through while hiding in the basement and drinking cider. If his friend hadn't cut him a deal on rent, helped him purchase the place, and so on, maybe he wouldn't have gotten so massively in debt. To be fair, his friend did try to warn him and his response was *gulps beer* "well you did it, so how hard could it be     ". Maybe not the coolest thing to do, but certainly understandable that he'd step back and let Mister "I don't need to know anything about business to know I'm smarter than you" Office Drone Analyst fail and then be there to pick up the pieces since he obviously wasn't going to listen to anyone's advice.E: Devian666 posted:BWM leaving $400k in gold coins in a safe in your pantry. But how would anyone know about the gold... quote:The female victim said she told Ceballos’ wife what was in the safe, and she also told officers Ceballos did repair work around their home, the Palm Beach Post reported. Oh.  why the gently caress would you tell anyone that you have almost half a million in gold hidden in your house ? The only reason I can see for doing that is if you're about to die, or they are.
VitalSigns fucked around with this message at 04:03 on Nov 7, 2017 |
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Nov 7, 2017 03:58
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You forgot about the rifle slung on his back. I think he actually ran a saloon in the old west.
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Nov 7, 2017 04:04
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Bird in a Blender posted:I also can’t figure out what the hell she means by $25k in legitimate CC debt. quote:Not at all. I admit the credit card debt got away from me but it’s remained steady at that point for about 10 years. Most of it was accrued paying for our wedding. 10 years of credit card interest 
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Nov 7, 2017 04:06
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Inept posted:10 years of credit card interest But don't worry, SHE is financially responsible!
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Nov 7, 2017 04:46
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10k equity on a 305k home with nearly 200k gross income, ay carumba.
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Nov 7, 2017 05:10
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Photex posted:https://www.reddit.com/r/personalfinance/comments/7b6zgi/spouse_just_informed_me_he_accrued_83k_in_debt/ Their poor kids are hosed 
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Nov 7, 2017 05:17
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I don’t know anything about mortgages since I’m just starting to save to be able to buy a house in five years and common sense tells me the more I can put down the better (and that’s the extent of my home buying knowledge at this point) but even I’m lolling at owing $295k on a $305k house. Maybe I can just save for six months and accomplish one of my life goals super early!!! How much of a risk is a market collapse on that? Being upside down on your mortgage is like... super bad isn’t it?
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Nov 7, 2017 05:20
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I like the undertone in her post of “I’m the responsible adult here, he’s the out of control idiot.”  She’s good with money relative to him in the way that a dumpster fire is good relative to a raging tire fire.
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Nov 7, 2017 05:22
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NUKES CURE NORKS posted:I don’t know anything about mortgages since I’m just starting to save to be able to buy a house in five years and common sense tells me the more I can put down the better (and that’s the extent of my home buying knowledge at this point) but even I’m lolling at owing $295k on a $305k house. Maybe I can just save for six months and accomplish one of my life goals super early!!! If you can put down 10-20% you will get a better interest rate and when you owe less your monthly payment is lower. A typical mortgage is a table mortgage so it'll be the same payment for 30 or 15 years. If you save for six months you're out performing 60-80% of the population. The risk of collapse for them is if they can't make the mortgage payments then the bank sells their house and they end up still owing the bank money. If it's upside down some states have provisions to deal with that but I'm no experts on the details of that. They may be able to walk away, or they may be on the hook. At least they aren't underwater right now.
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Nov 7, 2017 05:42
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