I would blow Dane Cook posted:

Panfilo posted:

I'm curious, will the subprime auto loan also burst like with the housing one? Does that mean holding off until it does means you could get a much cheaper vehicle?

Panfilo posted:

Yeah, that's what I was thinking. Also, the people profiteering off this kind of thing are gonna be scummy as gently caress, so who knows what kind of condition the car would be in regardless.

Is buying 'certified pre-owned' BWM? I thought they hold to a higher standard? But the prices don't seem that much cheaper than a new car, which kind of defeats the whole purpose of buying a used car...

Cacafuego posted:

I demand more BWM stories from you. As someone who hands out subprime loans at a car dealership, you must have a bunch.

Dwight Eisenhower posted:

I don't see how subprime auto loans could blow up in the same way as subprime mortgage loans.

Panfilo posted:

Is buying 'certified pre-owned' BWM? I thought they hold to a higher standard? But the prices don't seem that much cheaper than a new car, which kind of defeats the whole purpose of buying a used car...

Youth Decay posted:

I'm more concerned about the direct affiliation with a particular company. Like if Pfizer hired doctors to work at Pfizer clinics and only prescribe Pfizer products. Except worse because they're prescribing these things without scientific evidence that they actually work, and most importantly because the doctors at the doTerra clinics really aren't recommending the products, they're trying to add more recruits to the pyramid. Per the website the oils won't even be available at the clinics themselves except as samples, the patients must go to the individual distributors whereupon they will get the usual marketing spiel about ~sharing the oils~ and be upselled on buying a starter kit to get sucked into the oily cult.

How I wasted $12,000 this past year and what should I do with $12k in the next year? posted:

I'm 30 years old, married, and have 2 kids. Long story short: In June 2014 I got a new job(Job B) that paid 25% more than my last job(Jab A). Then in October 2014 that job got outsourced but the outsourcing company liked me and offered me a job(Job C) making close to 75% more thatn what I was making at my previous job(job A). So my first year making this much money I splurged A LOT. To the tune of $12k. I worked hard these past 5 years so I wanted treat myself.

Here's what I spent the money on(Ballpark estimates)

$1500- Watercooled gaming PC

$500 - FreeNAS machine

$500 - PS4 and games

$500 - Wii U and games

$800 - 3DS and games. it was actually 3 different 3DS systems which were $470

$600 - Funko Pops

$1500 - Phones( I had to get a one replacement because 1 of the phones broke) Otherwise this would have been closer to $1000

$500 - DSLR

$1000 - Furniture that were optional and not NEEDED but I wanted

$1200 - 1/2 grass fed Cow

$500 - Anime boston

$1500 - baby stuff

$1500 - presents, birthdays and misc

Aside from the cow I don't see anything on this list that I'll likely get again. I'm going to get modest with presents and birthdays. I'll probably skip anime boston this year or if I go I'll control myself with the spending. Realistically speaking I don't think I'll be saving all $12k but $8-10k should be realistic. What I should do with that money is where I need help. My credit is not great so I would like repair and make it better. I'm at about 650 ish credit score and I'd like to be at 750.

I have about $32k in student loans that I'm paying back on time every month and reflects good on my credit I just financed a car for $24k. like 2 weeks ago. 5.09% interest which is not great but it's not bad. I can live with it. I paid off my previous car this year but I did miss some payments during the finance term and I'm wondering if there's anyway I get this removed from my credit report. Like as an act of good will or something. I have a private student loan that I been avoiding. but I'm pretty sure it's affecting my credit score badly. Like I graduated college in 2011 and I have just not been picking up their calls which is dumb I know. I have an upcoming court date with BoA about a CC that was closed a long time ago so I'm not sure it still shows up on my credit report but I think the firm representing them keeps pulling up my credit and that might be affecting it badly.

I think there's 2 other misc things on my credit that are fairly cheap to pay and have removed from my credit report I hope. 1 is Early Termination FEE from verizon and I forget what the other one was but the 2 are about $400 together so easy enough to take care off. I only have 1 line of Credit and that's with Amazon. It's a very high interest rate card but I only use it with the special financing option which doesn't charge interest. IF paid off in a year ($500+) or 6 months ($150) No savings. Planning on getting on my company's 401k during open enrollment. But no other plans as far savings and other types of accounts that helps me get more money

So PF gurus what do you think the best course of action should be for me. Please guide me because I'm terrible with money and never realized how important credit was in this country.

Thanks in advanced.

Edit here is my Salary and expenses Salary is $70k/year it's broken down weird though but whatever still $70k

$60k salary

$6k in regional living expense bonus (6k/26)

$4k in quarterly performance bonus($4k/4)

I get paid bi weekly. I take home about $3900 after taxes and health insurance every month. I get $1k every quarter for my bonus

My expenses

$1000 rent

$500 car ($421 minimum)

$130 car insurance

$220 student loan(The one I'm actually paying)

$110 Cell phone bill

$220 train pass

$70 gas

$50 diapers and other bay stuff

$500 food

So that leaves me with a $1k

Inheritance & wasted money in stocks posted:

Hello Friends,

I'm pretty dissapointed in myself and I think I made a bad decision. Im a university student and I don't haven't had a job since highschool. With school and rent my expenses are around $14,000 for every 8 month school year and this summer I wanted to do a coop position so I should be making money. Just for some context.

I recently (last year) inherited about 50 grand from my late grandmother and will be receiving more in the coming months (something like 80k). I am very very grateful to have gotten this and have already used a good chunk maybe 15k to pay for school and rent and some things for my parents bc they deserve it. Anyway I decided that I want to make the money back so I looked into stock trading, day trading specifically. I'm pretty embarrassed to say that I was really confident and determined in this venture and spent 3 grand on courses. I've been trading in a simulator for maybe 2 months now and I haven't had a green day in weeks. And when I do have a green day it's like 30% of my average losing day. I just can't seem to get the hang of it. I've got all this money, do y'all think it would be more wise to try to continue with trading and hopefully become profitable? Or should I just keep using the inheritance and pay for school? (With coop and hopefully a good job out of uni, I'm in an engineering program, I wouldn't run out of money. The 35 can last me basically the rest of my program). Or is there another solution?

Thanks in advance! Adulting is hard haha.

I want to stop paying my life insurance but my mom wont let me.. posted:

Hello,

I currently have a 10 pay life insurance. My mom set me up this 5 years ago. i pay 67CAD/month. it beeen more than 5 years so i spent like 4.4k cad so far and ive been reading a lot on reddit and a lot of ppl say you dont need a life insurance and its better to get term life. Policy give me 100k if i die before 10 years and 200k if i finish with the 10 years payment.

But i called my insurance company (london life) and they said i will only get 467$? cash out if i surrender my insurance.

Should i just complete the 5 years left (around 3.6k) or gave up on it but loose like 4k$ i wasted on this insurance..

And my mom really want me too keep this and even offer to pay for it..

But i dont want her to pay for this and waste her money.. i feel like i dont need this. im only 20 years old,bno kids and in university,

Help plz ty

Good Parmesan posted:

BWM 2018: Aside from the cow I don't see anything on this list that I'll likely get again.

https://www.reddit.com/r/personalfinance/comments/3kjhfw/how_i_wasted_12000_this_past_year_and_what_should/

quote:

How I wasted $12,000 this past year [on mostly misc instead of dealing with my debts]

I have about $32k in student loans and I just financed a car for $24k. like 2 weeks ago.

I have a private student loan that I been avoiding

1 is Early Termination FEE from verizon and I forget what the other one was but the 2 are about $400 together so easy enough to take care off.

Please guide me because I'm terrible with money and never realized how important credit was in this country.

quote:

$1500 - presents, birthdays and misc

Risky Bisquick posted:

How much more misc can you get after $3800 on gaming, and $600 on 'collectible' figurines.

very stable genius posted:

Funko pops are absolutely NOT just like beanie babies, despite what you might read comparing the two.

Drunk Tomato posted:

How so?

quote:

$1500- Watercooled gaming PC

$500 - PS4 and games

$500 - Wii U and games

$800 - 3DS and games. it was actually 3 different 3DS systems which were $470

metallicaeg posted:

Funko pops I've never understood. They all vaguely look like each other, and only vaguely look like what character they're supposed to be.

I mean I guess that's what makes them so easy to poo poo out for everything and anything, so I get why they're made from a business standpoint, but not why they're bought from a consumer view.

Chin Strap posted:

I like how he puts "Baby Stuff" under the wasted category too. Father of the year there.

quote:

Throughout college my wife was not told the dangers of student loans and each year her parents helped her signup for Parent Plus loans to pay for it. She is now graduated but he parents are asking us to pay the $658 bill each much for the Parent Plus loans. Now we don't want to cut ties with them as we are aware that we don't need to pay for it. But it is an awkward and upsetting situation. The problem is the payment amount is based on the parents which make a significant income. Is there a way to transfer these loans to us? We cannot manage that when we have our own loans ($167, and $187) a month for student loans and a $1196 mortgage.

Any thoughts or help?

We make about $120,000 before taxes combined, but it is too much to pay $1012 a month.

----------------------------------------------

>> Did your wife agree to repay them when her parents took the loan out?

yes but she did not realize they took the max out and would need to repay 100k.

-----------------------------------------------

Her parents chose to take the loans and signed paperwork agreeing they would be the ones to repay. They can’t suddenly reneg on that and expect someone else to pay. Does the daughter have the right to demand her stafford loans be paid by her parents? I’d say she had more of a standing to ask that as they were financially responsible for her and didn’t save while she was younger

very stable genius posted:

Funko pops are absolutely NOT just like beanie babies, despite what you might read comparing the two.

quote:

e: I just learned what funko pops are

Budgie posted:

I don't understand why retailers don't just go through every box and sell the 'rare' ones for more by default and kill the aftermarket dead.

Moneyball posted:

Maybe he's talking about himself?

metallicaeg posted:

I mean I guess that's what makes them so easy to poo poo out for everything and anything, so I get why they're made from a business standpoint, but not why they're bought from a consumer view.

Good Parmesan posted:

BWM 2018: Aside from the cow I don't see anything on this list that I'll likely get again.

https://www.reddit.com/r/personalfinance/comments/3kjhfw/how_i_wasted_12000_this_past_year_and_what_should/

quote:

[–]PrancingPeach
41 points 2 years ago
He's got a big family it sounds like. I really doubt he's the only one playing the games. The only exception might be the watercooled PC, but honestly $1500 is on the low end for that.

That said, there's nothing wrong at all with playing video games as a parent. The dude just spent too much money on it all.

quote:

[–]Copernican
253 points 2 years ago

In his defense a water-cooled computer at $1500 should not sound outrageous compared to something like a MacBook Pro beginning at $1300. As long as it's functional to work and productivity outside of gaming, I don't think it's as ridiculous as people who drop the cash on macbooks but only use the web browser and word processor.

Hoodwinker posted:

Bless your heart.

cowofwar posted:

They make $10k a month gross and can’t handle $1k in loans?

Moneyball posted:

Oh sorry, I thought it said manbaby stuff.

Tomfoolery posted:

This is a bit derail-ish but might count as BWM.

Doctors already do lots of lovely things. Pharma companies used to hire a bunch of hot young women as reps who'd go around to the doctor's offices shilling their drugs. Their analytics would show a spike in sales following each rep.

Good Parmesan posted:

BWM 2018: Aside from the cow I don't see anything on this list that I'll likely get again.

https://www.reddit.com/r/personalfinance/comments/3kjhfw/how_i_wasted_12000_this_past_year_and_what_should/

I'm wondering if there's anyway I get this removed from my credit report. Like as an act of good will or something.

Risky Bisquick posted:

It's reasonable to buy a entertainment console for you and your kids, but 4 different ones, and one of those ecosystems is 3x 3DS

Droo posted:

https://www.reddit.com/r/personalfinance/comments/7qtvry/wifes_parents_are_expecting_us_to_pay_for_parent/

savesthedayrocks posted:

After working in a credit call center, this is what got me the most.

If everyone could remove their pay history, how would the system even work? Erase everyone’s defaults, now everyone has an 800 Fico.

Droo posted:

https://www.reddit.com/r/personalfinance/comments/7qtvry/wifes_parents_are_expecting_us_to_pay_for_parent/

quote:

We spend 3546 a month average on a other expenses(going to the store for food, eating out, buying a new game or whatever). I guess that is where this lies.

Fil5000 posted:

Do the students have to sign on these as well? I assume that their credit gets hosed if neither they nor the parents pay, right?