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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KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

not to bring this back around to the ridiculous college discussion in which i was a bad participant, but two kids near college age with a high earning family are going to be hosed on financial aid

hope pops has that one figured out or the grandparents are going to weigh in

# ? Aug 30, 2018 19:28

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# ? Jun 7, 2024 23:09

Mocking Bird: Aug 17, 2011

Lol at everyone who has parents that aren't a burden to them and their children

Not that I'm bitter

Thank God my kid was adopted from foster care and gets to be an independent student on her FAFSA

# ? Aug 30, 2018 19:31

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Subjunctive posted:

Oh, are we supposed to be contributing? Maybe you�d like to hear about how I bought my house.

I've upset you. Apologies, friend!

KYOON GRIFFEY JR posted:

not to bring this back around to the ridiculous college discussion in which i was a bad participant, but two kids near college age with a high earning family are going to be hosed on financial aid

hope pops has that one figured out or the grandparents are going to weigh in

Oof, that didn't even cross my mind. One can only hope he's paying their college out of pocket each semester already??

# ? Aug 30, 2018 19:32

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

GoGoGadgetChris posted:

One can only hope he's paying their college out of pocket each semester already??

lol, just lol.

FAFSA is going to treat the entire parental income as eligible, and meanwhile this grasshopper faces a cold and dreary winter.

"Sorry kids, you're going to community college because Daddy wanted an S-class" is a pretty dope seed for future feelings-of-inadequacy-based therapy.

# ? Aug 30, 2018 19:43

Barry: Aug 1, 2003; Hardened Criminal

KYOON GRIFFEY JR posted:

not to bring this back around to the ridiculous college discussion in which i was a bad participant, but two kids near college age with a high earning family are going to be hosed on financial aid

hope pops has that one figured out or the grandparents are going to weigh in

He did say:

quote:

I will be paying for my kids' college. They both want to go to state schools, and I will cover it either with cash or with a personal loan which I won't have any issue getting.

Which, considering his current spending habits, trying to shoehorn like $50k/yr or whatever the gently caress it costs all in to send two kids to state school will be... difficult.

# ? Aug 30, 2018 19:43

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

I hope he means state schools in his own state.

# ? Aug 30, 2018 19:45

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Barry posted:

He did say:

Which, considering his current spending habits, trying to shoehorn like $50k/yr or whatever the gently caress it costs all in to send two kids to state school will be... difficult.

At his income, the 20k credit card debt is basically no debt and he just goofed up his checking balance one month. He seems to have tons of experience in "spending money until it's gone", so I have faith he'll be able to drop 50k a year and just buy fewer FunkoPops

More likely scenario

EAT FASTER!!!!!! posted:

lol, just lol.

# ? Aug 30, 2018 19:50

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

If it's in-state, figure on about $50K for the pair of them, which should definitely be doable within his future budget provided that he can actually make cuts. Ron Howard voice: They didn't Good news is there's a lot of fat on them bones. I never understand how these people survive. I made a wildly irresponsible consumer purchase this year and it still stresses me out to think about it even though it was budgeted for and I can very easily afford it while paying off all the priority stuff.

I also assume he's married and he doesn't mention his spouse's income, and when the kids leave the house that lady is gonna be bored as gently caress so she can go on and get a job. .

One confusing thing to me - he mentions not being eligible for an IRA. Is that a thing? Never heard of that.

# ? Aug 30, 2018 19:53

DJCobol: May 16, 2003; CALL OF DUTY!; Grimey Drawer

KYOON GRIFFEY JR posted:

One confusing thing to me - he mentions not being eligible for an IRA. Is that a thing? Never heard of that.

He's way over for a Roth, and he's over the earning limit to take tax deductions on a traditional. Not that it can't be created and used, just no tax advantage to do so.

# ? Aug 30, 2018 19:56

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

I got a divorced and paying spousal support vibe.

And he probably either doesn't know about backdoor Roth or is just using it as an excuse to not save

# ? Aug 30, 2018 19:57

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

you're still advantaged by not having to pay capital gains taxes

# ? Aug 30, 2018 19:59

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

KYOON GRIFFEY JR posted:

you're still advantaged by not having to pay capital gains taxes

You're talking about a 38 year old man-child who has managed to spend himself into debt despite drawing a quarter million dollar salary.

# ? Aug 30, 2018 20:04

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Guy is like the poster child for automating your saving. I bet he wouldn't even notice the smaller paychecks if 10% went into a savings account and 5% went into the 401K

Does he mention if he grew up poor? Often people with low income upbringings will keep a mentality that you have to spend the money before it's gone, so if you want to have any sort of fun at all, you have to blow the cash before paying your bills.

# ? Aug 30, 2018 20:05

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

GoGoGadgetChris posted:

Does he mention if he grew up poor? Often people with low income upbringings will keep a mentality that you have to spend the money before it's gone, so if you want to have any sort of fun at all, you have to blow the cash before paying your bills.

It takes a long time to break that habit, and I�m not sure it�s ever fully broken.

# ? Aug 30, 2018 20:11

19 o'clock: Sep 9, 2004; Excelsior!!!

Only missing part is an �I�m 1099.� to make it better.

# ? Aug 30, 2018 20:16

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

GoGoGadgetChris posted:

I got a divorced and paying spousal support vibe.

And he probably either doesn't know about backdoor Roth or is just using it as an excuse to not save

Definitely divorced, most likely having to pay for college as well.

# ? Aug 30, 2018 21:48

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

Fianc� used his vehicle for a loan. He has bad credit. Does he have any options to get out of this loan? (self.personalfinance)

https://www.reddit.com/r/personalfinance/comments/9bizdo/fianc%C3%A9_used_his_vehicle_for_a_loan_he_has_bad/ posted:

My fianc� borrowed $10,000 from One Main and used his truck as collateral. He has bad credit but here is his question. Are there any loan options out there for him? He wants to take out another $10k loan to pay off One Main since they have a lien on his truck.

I told him I have no idea but thought I�d come on here to ask. Thanks!

quote:

[�]newsoundreport 84 points 14 hours ago

We need way more info.

Has another financial institution offered him a loan already?

Does he own a house?

What is his monthly income?

How long is the term (months) on the One Main loan?

[�]CuriousRedhead37 [S] 53 points 14 hours ago

No, I don�t think he has even tried yet. This was just something he mentioned last night to me.

He doesn�t. I own our house.

His monthly income is $2250.

The term is 60 months and he just started the loan a month ago. I tried to talk him out of it but he needed the money for supplies for his job. He has to supply his own equipment and supplies and his was falling a part.

quote:

[�]m_d_f_l_c 40 points 14 hours ago

No if he needed to secure a loan with something before, what makes you think somewhere will give him money unsecured now? He's just gotta like.... pay of the loan.

[�]CuriousRedhead37 [S] 15 points 13 hours ago

I get that. Just asking since he wanted to know if he had options. I just wish he had listened to me to begin with and not have taken it out.

# ? Aug 31, 2018 03:41

SiGmA_X: May 3, 2004; SiGmA_X

Haifisch posted:

Fianc� used his vehicle for a loan. He has bad credit. Does he have any options to get out of this loan? (self.personalfinance)

lol.

# ? Aug 31, 2018 05:38

dpkg chopra: Jun 9, 2007; Fast Food Fight; Grimey Drawer

�We�ll pay the loan with another loan� is peak BWM. Unless you�re a millionaire or corporation in which case it�s extremely GWM.

# ? Aug 31, 2018 14:14

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

That other loan can get discharged in bankruptcy maybe? If so, maybe it's one quick trick and banks hate him.

Quick edit: I'm dumb and thought this was student loans for no reason at all

# ? Aug 31, 2018 14:27

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

is he a tech?

# ? Aug 31, 2018 14:33

MisterOblivious: Mar 17, 2010; by sebmojo

KYOON GRIFFEY JR posted:

is he a tech?

The fiance has no idea what he does.

# ? Aug 31, 2018 14:50

Motronic: Nov 6, 2009

MisterOblivious posted:

The fiance has no idea what he does.

quote:

I don�t understand what he does. I see the equipment. It�s a big metal thing with a tube and like a gun on the end of it. And then there is other stuff but that�s the biggest thing.

He's a welder. A bad one, probably without appropriate certs who is now thinking he can work for himself.

# ? Aug 31, 2018 15:26

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

how are you so dumb that you don't understand an extremely normal, easy to explain blue collar job

# ? Aug 31, 2018 15:37

Trustworthy: Dec 28, 2004; with catte-like thread
upon our prey we steal

"And for what purpose are you seeking this loan, sir?"

"Because when I default on this other loan, I'll lose my truck. I'm looking for something I can gently caress up with fewer... consequences."

"Ah, very good, sir." *reaches for APPROVED stamp*

# ? Aug 31, 2018 15:39

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

Trustworthy posted:

"And for what purpose are you seeking this loan, sir?"

"Because when I default on this other loan, I'll lose my truck. I'm looking for something I can gently caress up with fewer... consequences."

"Ah, very good, sir." *reaches for APPROVED stamp*

if it were like, 2006, this would happen

# ? Aug 31, 2018 15:46

DJCobol: May 16, 2003; CALL OF DUTY!; Grimey Drawer

Trustworthy posted:

"And for what purpose are you seeking this loan, sir?"

"Because when I default on this other loan, I'll lose my truck. I'm looking for something I can gently caress up with fewer... consequences."

"Ah, very good, sir." *reaches for APPROVED stamp*

*hands over sack of cash with $$$ printed on it*

# ? Aug 31, 2018 16:12

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Trustworthy posted:

"And for what purpose are you seeking this loan, sir?"

"Because when I default on this other loan, I'll lose my truck. I'm looking for something I can gently caress up with fewer... consequences."

"Ah, very good, sir." *reaches for APPROVED stamp*

Me - the banker: Why don't more people take advantage of this one, weird trick?!

# ? Aug 31, 2018 16:38

Splicer: Oct 16, 2006; from hell's heart I cast at thee
🧙🐀🧹🌙🪄🐸

EAT FASTER!!!!!! posted:

Me - the banker: Why don't more people take advantage of this one, weird trick?!

My colleagues and I hate him!

Splicer fucked around with this message at 16:51 on Aug 31, 2018

# ? Aug 31, 2018 16:39

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Once you stop hearing radio ads for debt relief and start hearing ads for predatory car loans and HELOCs, you know it's about to get crazy

# ? Aug 31, 2018 16:43

Vox Nihili: May 28, 2008

Ur Getting Fatter posted:

“We’ll pay the loan with another loan” is peak BWM. Unless you’re a millionaire or corporation in which case it’s extremely GWM.

Refinancing loans is oftentimes quite GWM? Don't need to be rich, either, but as always it helps.

# ? Aug 31, 2018 16:51

Liquid Communism: Mar 9, 2004; коммунизм хранится в яичках

EAT FASTER!!!!!! posted:

"Sorry kids, you're going to community college because Daddy wanted an S-class" is a pretty dope seed for future feelings-of-inadequacy-based therapy.

Honestly, if they're not getting significant scholarships, they should do this anyway. Gen eds generally transfer, and tend to have smaller class sizes at community college while also being vastly cheaper.

Liquid Communism fucked around with this message at 17:12 on Aug 31, 2018

# ? Aug 31, 2018 17:06

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

Liquid Communism posted:

Honestly, if they're not getting significant scholarships, they should do this anyway. Gen eds generally transfer, and tend to have smaller class sizes at community college while also being vastly cheaper.

Yes, please, crack open the value-of-different-schools discussion again. This is a very good thing you're doing.

# ? Aug 31, 2018 17:12

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Subjunctive posted:

Yes, please, crack open the value-of-different-schools discussion again. This is a very good thing you're doing.

SECOND VERSE, SAME AS THE FIRST, A LITTLE BIT LOUDER AND A WHOLE LOT WORSE!

# ? Aug 31, 2018 17:30

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

No clue what tuition was at the time, but I just checked the website and sweet Jesus

"The Willamette University Board of Trustees has set student charges for 2017�18, reflecting a 2% increase in tuition for the College of Liberal Arts, a historic low for Willamette and below peer institutions. Tuition will be $47,840 and the standard room and board package will be $11,880."

I like the use of Historical Low to mean, the smallest increase ever

Edit Yo what the gently caress, this is some entrapment

Double edit - lol I see what happened. Maybe don't backseat mod an actual mod next time, Subjective ya goof!!

GoGoGadgetChris fucked around with this message at 17:43 on Aug 31, 2018

# ? Aug 31, 2018 17:36

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Great name change lol,

also 1) because we are paid monthly and 2) the Labor Day holiday ends the month the payroll office stated that paychecks won't be deposited until Tuesday, 9/4 and people are losing their drat minds.

# ? Aug 31, 2018 17:48