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 let's go back to talking about $40K Camrys please because that poo poo is d-e-p-r-e-s-s-i-n-g.
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Sep 20, 2018 18:38
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EAT FASTER!!!!!! posted:
Okay, how about this: http://time.com/longform/teaching-in-america/ quote:Hope Brown can make $60 donating plasma from her blood cells twice in one week, and a little more if she sells some of her clothes at a consignment store. It’s usually just enough to cover an electric bill or a car payment. This financial juggling is now a part of her everyday life—something she never expected almost two decades ago when she earned a master’s degree in secondary education and became a high school history teacher. Brown often works from 5 a.m. to 4 p.m. at her school in Versailles, Ky., then goes to a second job manning the metal detectors and wrangling rowdy guests at Lexington’s Rupp Arena to supplement her $55,000 annual salary. With her husband, she also runs a historical tour company for extra money. Is there some sort of PR firm out there pushing this narrative of the struggling teacher? I mean, I'm sure there are some, but choosing this obviously BWM woman who is making more than the median HOUSEHOLD income by herself in a LCOL area with summers off and a funded defined benefits plan puts her total compensation WELL above average. And somehow she needs to sell clothing at consignment shops and donate plasma to "survive."
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Sep 20, 2018 18:44
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Motronic posted:Okay, how about this: Be glad you don't have family members who are teachers. No matter what you do in your life, it pales in comparison to the challenges of being a 3rd grade teacher. The struggle is always real with them.
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Sep 20, 2018 18:49
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Motronic posted:Okay, how about this: The "PR firm of the struggling teacher" is the National Education Association. I grew up as the child of a teacher, so I'm not excited to badmouth them, but annualized, $55,000 for 36 weeks of work equates to $1,527 a week, an annualized salary for an individual of $75K. I calculated and this woman's minimum retirement monthly annuity payment is going to be $3,000. She's in better financial shape than 80% of Americans. EAT FASTER!!!!!! fucked around with this message at 18:56 on Sep 20, 2018 |
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Sep 20, 2018 18:52
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Bad With Money: Every morning it’s like a bat roulette
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Sep 20, 2018 19:00
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We gave them bread, wasn’t that enough?
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Sep 20, 2018 19:08
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I can't believe nobody has done it so I'm going to go ahead and say it: Bat With Money.
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Sep 20, 2018 19:14
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DEMAG posted:Be glad you don't have family members who are teachers. No matter what you do in your life, it pales in comparison to the challenges of being a 3rd grade teacher. The struggle is always real with them. Mmm I agree that teachers are overworked and underpaid but so is most of the US. I have a few grade school teacher friends and I believe that they believe "nothing pales in comparison to the challenges of being a grade school teacher," but don't believe the statement itself. They're certainly not living it large and teachers have to put up with serious bs but that's a helluva blanket statement, isn't it? I grew up in a large very poor city in TX, and to this day teachers there make solid money and enjoy cozy lives compared to much of the population, at least when they're not inside the school walls anyways E: weirdly, I'm in Austin right now and teachers make less here than they do in poorer smaller towns. That always did seem pretty hosed to me but I'm no expert on teacher payscales across the nation KingSlime fucked around with this message at 19:30 on Sep 20, 2018 |
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Sep 20, 2018 19:22
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Bat mother is the this is fine dog but with guano
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Sep 20, 2018 19:30
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She's probably bad with money, but 20 years in with a masters degree and only making 55k is some bullshit pay. New teachers are probably making around 35k. Not every state has a generous benefits package either. The amount of time of you get varies but in most cases is not 3 months and the hours during the school year are really long.
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Sep 20, 2018 19:31
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KingSlime posted:Mmm I agree that teachers are overworked and underpaid but so is most of the US. I have a few grade school teacher friends and I believe that they believe "nothing pales in comparison to the challenges of being a grade school teacher," but don't believe the statement itself. Nobody actually wants to live in West Bumfuck, TX. So you have to pay well to get someone to take the job. Sort of like how Denver Public Schools pay more, generally, than the tonier Cherry Creek and Douglas County districts. That teacher, though...I can get not living a life of luxury, but unless her health insurance is horrible and she has something chronic, she should be well above plasma donation and selling clothes to consignment shops level. Something is amiss there.
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Sep 20, 2018 19:36
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Hoodwinker posted:I can't believe nobody has done it so I'm going to go ahead and say it: Acceptable.
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Sep 20, 2018 19:41
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blackmet posted:That teacher, though...I can get not living a life of luxury, but unless her health insurance is horrible and she has something chronic, she should be well above plasma donation and selling clothes to consignment shops level. Something is amiss there. Exactly, if we want to rile up support for the working classes, we should stick to honest examples of people who are living within their means and still can't make ends meet. It reminds me of an article that I read about food stamps not always cutting it for families, and how they have to resort to cheaper unhealthy options (which is also a thing). They interviewed some obese lady with diabetes who used her food stamps exclusively to buy cereal and junk bullshit. Her kids are all hefty as hell and one was developing signs of diabetes, and she just said "there was nothing she could do about the situation" with tears in her eyes as the kid helps himself to another heaping serving of capn crunch in the background. Not once did the article explore the possibility of "stop buying cereal for your increasingly unhealthy children," and it didn't elaborate on why mom doesn't cook (or if she can/has the time). To me, it seemed like that article was going to illicit the exact opposite reaction that it was aiming for. Like this isn't about "poor people shouldn't enjoy things!" Lady, you're letting your child kill himself wtf
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Sep 20, 2018 19:47
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KingSlime posted:Exactly, if we want to rile up support for the working classes, we should stick to honest examples of people who are living within their means and still can't make ends meet. I think it's probably part of the narrative that all American's are idiot fat slobs and about why we can't have nice things like effective welfare programs, though the reality is obviously more nuanced.
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Sep 20, 2018 19:51
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blackmet posted:Nobody actually wants to live in West Bumfuck, TX. So you have to pay well to get someone to take the job. In general they get paid more for more difficult kids. The private schools that cost 20k a year barely pay the teachers more than that, but they only have 18 children in class. It all makes sense from an economic point of view, but people conflate the wrong factors as being related to pay. Teacher shortages in Colorado are for jobs in the most challenging schools and pay well. The less stressful schools have no problem finding people and they pay is less. That lady is an embarrassment and not helping the cause.
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Sep 20, 2018 19:52
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Motronic posted:Okay, how about this: The article doesn't tell us how she's spending her money. $55k + part time work + working husband should be enough without having to donate plasma unless they're also up to their eyeballs in debt. The article hits on some good points, but I'm not sure they picked the most sympathetic teacher to profile. Then again she could be paying off medical debt after the state cut benefits or supporting older more BWM family members. I remember reading about this one teacher in Oklahoma who, after paying for benefits to herself and her large family had no take-home pay. I'm not really sure how that's possible and I can't find the article now, but that was a humdinger.
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Sep 20, 2018 19:52
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batgirl posted:Man alive, there are so many bats. So many bats. I feel like it's time to take action when your eyes start oozing. If the alternative is literally dying then just call in these professionals: 
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Sep 20, 2018 20:04
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I have one of these cards because when they first launched they were desperate to get people to sign up and offered a $250 statement credit if you spent $500 in the first 3 months. I put $504 on it. Paid $254 and now I get a packet once a month asking me to please use the card to buy a discounted disney timeshare or cruise. In related BWM credit card company ideas: Chase apparently lose $1.2 billion dollars on the Chase Sapphire Reserve card. They had generous sign-up benefits, but an annual fee of $450. They expected to lose money in the short term, but gain it back with a lot of people keeping the card and paying the annual fee. It apparently worked out so badly that they cut the benefits in half, kept the $450 annual fee, and cancelled a policy of pro-rating your annual fee payment if you cancelled within 3 months of paying your annual fee. It turns out that the only way to lose money as a credit card company is to make a credit card that is extremely attractive to churners and the super rich, while marketing it to the average person.
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Sep 20, 2018 20:56
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Leon Trotsky 2012 posted:I have one of these cards because when they first launched they were desperate to get people to sign up and offered a $250 statement credit if you spent $500 in the first 3 months. Even with the decreased benefits Chase Sapphire Reserve is still probably the best overall travel rewards card out there. The $450 annual fee is pretty steep, but you get an annual $300 travel credit. So as long as you stay in a hotel 2 nights per year, buy half an airline ticket, or use a bunch of Uber, then the fee comes down to $150 pretty quick. Plus your Ultimate Rewards points spend at 1.5x. The benefits they removed were fringe things anyways like price protection and extended warranty on purchases made with the card. Nothing I, or anyone I can think of, would ever bother actively using or even knowing existed. Sock The Great fucked around with this message at 21:05 on Sep 20, 2018 |
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Sep 20, 2018 21:03
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Sock The Great posted:Even with the decreased benefits Chase Sapphire Reserve is still probably the best overall travel rewards card out there. The $450 annual fee is pretty steep, but you get an annual $300 travel credit. So as long as you stay in a hotel 2 nights per year, buy half an airline ticket, or use a bunch of Uber, then the fee comes down to $150 pretty quick. Plus your Ultimate Rewards points spend at 1.5x. I agree, but they marketed to the "average" person. That market is only people who will not get a card with a $450 annual fee or churners. Apparently, churners got more than a billion dollars out of Chase. Chase has been doing some bizarrely massively money-losing mistakes recently. Including: quote:JPMorgan lost $273 million on a single client in the fourth quarter quote:The benefits they removed were fringe things anyways like price protection and extended warranty on purchases made with the card. Nothing I, or anyone I can think of, would ever bother actively using or even knowing existed. They cut the sign-on bonus in half, ended a policy of refunding the annual fee if you cancelled, and limited your airline credit to once per card year instead of once per calendar year. They effectively reduced the value of the sign up bonus by about $2,000 because it was so lucrative to get it and just cancel.
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Sep 20, 2018 21:07
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Sock The Great posted:Even with the decreased benefits Chase Sapphire Reserve is still probably the best overall travel rewards card out there. The $450 annual fee is pretty steep, but you get an annual $300 travel credit. So as long as you stay in a hotel 2 nights per year, buy half an airline ticket, or use a bunch of Uber, then the fee comes down to $150 pretty quick. Plus your Ultimate Rewards points spend at 1.5x. The Chase Sapphire Reserve was extremely GWM if you got in on it in the first 10 months or so because they hosed up and initially made the $300 travel credit a once-per-calendar year bonus. So if you signed up in November, you had 2 months to use the credit, and then come January, you could get another free $300. You didn't even have to spend money to get the travel credit, making a $300+ refundable hotel reservation that you canceled a day after the charges cleared would qualify. Add in the 100,000 points you could immediately cash out for $1000, and anyone who was a savvy churner was making $1150 minimum profit if they cancelled/product changed the card before it renewed. It's no surprise to me they lost massive amounts of money on this card. Plus I'm guessing making them out of metal wasn't cheap.
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Sep 20, 2018 21:22
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Rules nerds are a malevolent force in any game-able system. I'm surprised Chase didn't see this coming. I say this as a rules nerd.
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Sep 20, 2018 21:25
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Sock The Great posted:Even with the decreased benefits Chase Sapphire Reserve is still probably the best overall travel rewards card out there. The $450 annual fee is pretty steep, but you get an annual $300 travel credit. So as long as you stay in a hotel 2 nights per year, buy half an airline ticket, or use a bunch of Uber, then the fee comes down to $150 pretty quick. Plus your Ultimate Rewards points spend at 1.5x. Agreed. Also, I've had parking garages end up coded as travel before. I have no idea how they're
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Sep 20, 2018 21:25
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Motronic posted:Agreed. At 19.5%+ APR they probably need less than 5% of cardholders to make the minimum payments each month for it to be profitable for them.
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Sep 20, 2018 21:29
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Sock The Great posted:At 19.5%+ APR they probably need less than 5% of cardholders to make the minimum payments each month for it to be profitable for them. It doesn't seem like the kinds of card/qualification criteria that would lead to many people carrying balances. But then again, I'm consistently surprised at how BWM many high earners actually are. Why do people always say save for your retirement quote:whats the point? at 65 ill be at the end of my life, and die. whats the point of saving the money till than.
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Sep 20, 2018 21:38
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i too was 17 years old once
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Sep 20, 2018 21:41
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KYOON GRIFFEY JR posted:i too was 17 years old once [M42]
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Sep 20, 2018 21:43
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BMan posted:It sure sounds like being homeless would be a significant upgrade 
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Sep 20, 2018 21:52
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Motronic posted:It doesn't seem like the kinds of card/qualification criteria that would lead to many people carrying balances. But then again, I'm consistently surprised at how BWM many high earners actually are. Killing yourself as soon as your work career is done is pretty GWM, especially for social security that will never have to pay out.
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Sep 20, 2018 22:04
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Motronic posted:It doesn't seem like the kinds of card/qualification criteria that would lead to many people carrying balances. But then again, I'm consistently surprised at how BWM many high earners actually are. quote:im 13 and just started learning about finance
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Sep 20, 2018 22:08
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Sounds like he's ahead of the curve to be honest. Little dude's asking meaningful questions.
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Sep 20, 2018 22:12
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When I got mine I had to sign up in person, the banker was named Chase, and he suggested I get my wife to come in and get one so we could double up on the bonus. I didn’t really want to spend whatever the qualifying amount x2 was so I didn’t but drat way to go get them Chase at Chase. He must have been getting something too so that’s more cash out the door.
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Sep 20, 2018 22:31
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Sock The Great posted:The benefits they removed were fringe things anyways like price protection and extended warranty on purchases made with the card. Nothing I, or anyone I can think of, would ever bother actively using or even knowing existed. AMEX's return policy or customer protection or I don't know what it's called is legit though and more people should use it. We bought a cell phone from a cheap online retailer and it broke after 3 days. We contacted the merchant, they said to return it and when we did they said they had to send it to an engineer to check it out. That took 3 weeks and a note came back that said "it's broke" with an $80 fee for the analysis. We said gently caress you, replace the phone, they said lol no pay us $80 to get your broken phone back and this went back and forth about 3 times before we sent copies of the correspondence to AMEX and told them to reverse the charges and they did it in under an hour and we never heard from the bastards again. Always know about the fringe benefits of your cards.
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Sep 20, 2018 22:32
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greazeball posted:AMEX's return policy or customer protection or I don't know what it's called is legit though and more people should use it. We bought a cell phone from a cheap online retailer and it broke after 3 days. We contacted the merchant, they said to return it and when we did they said they had to send it to an engineer to check it out. That took 3 weeks and a note came back that said "it's broke" with an $80 fee for the analysis. We said gently caress you, replace the phone, they said lol no pay us $80 to get your broken phone back and this went back and forth about 3 times before we sent copies of the correspondence to AMEX and told them to reverse the charges and they did it in under an hour and we never heard from the bastards again. How is this different from a normal chargeback?
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Sep 20, 2018 22:38
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greazeball posted:AMEX's return policy or customer protection or I don't know what it's called is legit though and more people should use it. We bought a cell phone from a cheap online retailer and it broke after 3 days. We contacted the merchant, they said to return it and when we did they said they had to send it to an engineer to check it out. That took 3 weeks and a note came back that said "it's broke" with an $80 fee for the analysis. We said gently caress you, replace the phone, they said lol no pay us $80 to get your broken phone back and this went back and forth about 3 times before we sent copies of the correspondence to AMEX and told them to reverse the charges and they did it in under an hour and we never heard from the bastards again. The warranty protection isn't a minor benefit, especially since it encourages you to use your credit card versus a debit or store financing option. If it's a 'premiere' card, it better have some buyer protections. AmEx's rock.
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Sep 20, 2018 22:40
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Past 30 days and the seller can and did say that we broke the phone whereas we said it was defective. Most CCs here (Switzerland) have no customer service at all and you have to work to get even fraudulent charges reversed.
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Sep 20, 2018 22:42
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Hoodwinker posted:I mean, actual quote from the op yeah that ain't bad at all, young lad is probably gonna end up GWM
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Sep 20, 2018 22:50
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KYOON GRIFFEY JR posted:yeah that ain't bad at all, young lad is probably gonna end up GWM Pretty sure my opinion of "old" at 13 was 25 but now 25 is just a young whippersnapper so /shrug. By reading /r/personalfinance, that kid is probably by definition GWM.
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Sep 20, 2018 23:29
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Leon Trotsky 2012 posted:I agree, but they marketed to the "average" person. Chase made more money last year than any other bank in the history of the world has ever made in a year, so singling out data points such as random default losses to one single ultra-high-net-worth client and a market-leading generous credit card reward program that attracted millions of desirable clients but was abused by some percentage of them who figured out how to do it on the internet is kind of odd in the overall context of their fiscal well-being. Don't you even worry your pretty little head that Chase will make mountains of money long-term on Chase Sapphire Reserve cardholders. That being said both me and my wife collected 3 annual travel credits for 2016, 2017, and 2018 plus the 100k sign-up bonus against one annual fee each. Lol.
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Sep 20, 2018 23:55
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Sock The Great posted:The benefits they removed were fringe things anyways like price protection and extended warranty on purchases made with the card. Nothing I, or anyone I can think of, would ever bother actively using or even knowing existed. Price protection is a fantastic benefit if you use it assiduously, for example on stuff that you absolutely know is going to go on sale at some point in the next 3 months, so pretty much any home good, clothing or shoes. Buy whatever you feel like and then whenever you get the sale email from the retailer just screenshot the sale price and upload it for a price protection refund.
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Sep 21, 2018 00:00
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