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Xenocides posted:"How do I get out of debt when no one will loan me more money?!?!?!" I didn't realize the final season of America already had a title.
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Oct 22, 2018 23:59
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| # ? Jun 7, 2024 01:30 |
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What $1350 car payment only have a $300 insurance payment? Certainly that's a premium high-end automobile. Answer, many smaller cars all rolled into one. A car payment Voltron if you will.
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Oct 23, 2018 00:04
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Krispy Wafer posted:What $1350 car payment only have a $300 insurance payment? Certainly that's a premium high-end automobile. "New car with the same payment!" 1 year later "New car with the same payment!" 1 year later "New car with the same payment!"
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Oct 23, 2018 00:07
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Something Offal posted:Yeah what is with multiple people in this thread straight up not understanding how much these things cost? If you're okay with buying $3,000 cars for the rest of your life then yep this is going to seem like a lot of money (which it is), but a ton of people go a different route and it's not inherently inadvisable IMHO. Average very much does not equal good with money.
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Oct 23, 2018 00:16
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Edit: Wrong Topic
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Oct 23, 2018 00:17
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That dude's posting history on Reddit is an incredible trove of BWM/BWL for those looking for a longer trip down schadenfreude lane. Active on /r/steroids, /r/TheRedPill, /r/seduction, etc.
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Oct 23, 2018 00:22
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Holy poo poo, that is a brutal read. Mobbed with consumer debt, needs a vehicle, and woefully insufficient income.Vox Nihili posted:Just pretend I bolded the whole thing
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Oct 23, 2018 00:49
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19 o'clock posted:Holy poo poo, that is a brutal read. Mobbed with consumer debt, needs a vehicle, and woefully insufficient income. Tag yourself, I’m the zaurg update of all the steps I’m not lol going to take.
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Oct 23, 2018 01:31
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I'm the expenses well in excess of income
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Oct 23, 2018 01:42
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EAT FASTER!!!!!! posted:Tag yourself, I’m the zaurg update of all the steps I’m not lol going to take. I'm the $188/mo cell phone bill and apparently no device payments (definitely missing the forest for the trees here overall, but still makes me lol).
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Oct 23, 2018 02:01
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I'm the law suit against GM.
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Oct 23, 2018 02:07
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I'm the $110,714 worth of debt. Jesus loving christ.
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Oct 23, 2018 02:18
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I’m the extremely low interest credit cards that carry my lowest balances.
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Oct 23, 2018 02:44
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$700 a month on food for a single person?
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Oct 23, 2018 03:25
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1350 car payment on a vehicle that GM is buying back (therefore new ish and in warranty) has to be 1) sierra/silverado duramax brotruck 2) yukon denali 3) 'sclade 4) dark horse corvette or ZL1 option my money is on 1 since he's military but really it could be any
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Oct 23, 2018 03:45
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CitizenKain posted:$700 a month on food for a single person? ~23.30 a day. It's a large amount but I've definitely reached and surpassed this as a single person eating out a lot (at fast casual places mainly), including grocery cost. Not proud of it.
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Oct 23, 2018 04:00
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quote:https://www.stuff.co.nz/business/107967154/family-climbing-their-way-out-of-57k-debt Yeah it's just those little things like not buying your groceries at the local petrol station. And thank god for an apparently interest free loan from family members. Their household income is $60k gross, plus $15.6k in tax free govt assistance. What a loving stupid reason to get into debt in the first place, vast sums of money frittered away on random poo poo  at least they've realised there's no excusing their level of stupidity
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Oct 23, 2018 04:36
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That's almost certainly including a lot of booze too, considering OP specified that includes beer and whatnot:OP posted:So, my problem is I have no idea what things my friends will invite me to participate in through the month... so what I did is set aside $500 every 2 weeks in order to be able to go with them to the bars, or off roading, or travelling and what not. Plus I end up using it on random stuff too like a carpet cleaner I bought for my house, or the pipe that burst under my sink to pay the plumber ect. Its just kinda general access money for all the unexpected stuff
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Oct 23, 2018 04:37
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GoGoGadgetChris posted:With cars, there's a price/quality sweet spot, so no matter how much income you have, it's BWM to pay over a certain price point. IMO with so much content available to us, we shouldn't settle for the mild BWM of a suboptimal car loan. I mean theres guys out there two times underwater on car loans
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Oct 23, 2018 05:54
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nikosoft posted:I want to buy a lottery ticket, but I don't even know how. Do I have to pick out numbers or do they come on the ticket? What do I ask for? Help me BWM! You’d have to win two or three lotteries to buy an NFL team. The Washington Football team is valued at $3.1 billion.
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Oct 23, 2018 05:54
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Hyrax Attack! posted:You’d have to win two or three lotteries to buy an NFL team. The Washington Football team is valued at $3.1 billion. Plus I can't think of a higher stress or lower satisfaction way to blow lottery winnings than buying a professional sports franchise - these are absolutely scandal-plagued, cut-throat businesses that are essentially helmed by the best minds in business and you want to take them on as a guy who bought a $2 Mega Millions ticket?
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Oct 23, 2018 14:02
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EAT FASTER!!!!!! posted:Plus I can't think of a higher stress or lower satisfaction way to blow lottery winnings than buying a professional sports franchise - these are absolutely scandal-plagued, cut-throat businesses that are essentially helmed by the best minds in business and you want to take them on as a guy who bought a $2 Mega Millions ticket? lol
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Oct 23, 2018 14:05
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Found a great local BWM/tree law super combo: Brothers face $450,000 in penalties for removing trees from their property CANTON TWP., MI -- Brothers Gary and Matt Percy could face nearly half a million dollars in penalties for removing more than 1,400 trees from their property without permission from Canton Township. ... Township attorney Kristin Kolb said "it was all part of a forest." "They identified certain plots," Kolb said. "They identified the number or type of trees and did some math to figure out approximately how many trees." The arborist estimated 1,385 trees with trunk diameter of six inches or more were removed. That could mean $225 to $300 per tree in penalties. Anther 100 landmark trees were also removed, the township estimated, meaning another $450 each. "Canton Tree Police showed up," said Pattwell. "Canton Township's tree removal ordinance prohibits landowners from removing trees from private property without government permission, which may be obtained by either payment into the township's so-called tree fund or on-site replacement with trees of certain designated trunk diameters. ... But Kolb said the brothers were "specifically told at least twice last year" that if they were to remove the trees, they needed a permit. "(They) never came and got one," Kolb said. The brothers have not yet been fined, but Pattwell asked the township for a settlement figure, Kolb said. The township's settlement offer is roughly $450,000. Under the ordinance, the Percys could have received a credit to reduce the fees by paying into the township's tree fund and planting new trees, Kolb said. The two own a commercial trucking company in Canton Township, as well as Montgomery Farms, a tree specialization company that operates in Albion and Hillsdale, Pattwell said. The trucking company, A.D. Transport Express, has been in the township since the late 1980s. The Percys' options include: Paying money into the tree fund to plant trees across the township, planting replacement trees or a combination of both, Kolb said. The Percy's are working to resolve the matter, Pattwell said, but are prepared to take it to court. Additionally, they are moving forward to plant 2,500 Christmas trees on the property they cleared, with 1,000 planted thus far. The ordinance states: "Landmark tree replacement: Whenever a tree removal permit is issued for the removal of any landmark tree with a (diameter at breast height) of six inches or greater, such trees shall be relocated or replaced by the permit grantee. Every landmark/historic tree that is removed shall be replaced by three trees with a minimum caliper of four inches. Such trees will be of the species from section Replacement of other trees: Whenever a tree removal permit is issued for the removal of trees, other than landmark/historic trees, with a (diameter at breast height) of six inches or greater (excluding boxelder (acer negundo), ash (fraxinus spp) and cottonwood (populus spp)), such trees shall be relocated or replaced by the permit grantee if more than 25 percent of the total inventory of regulated trees is removed." https://www.mlive.com/news/detroit/index.ssf/2018/10/brothers_could_pay_nearly_half.html
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Oct 23, 2018 14:07
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EAT FASTER!!!!!! posted:Plus I can't think of a higher stress or lower satisfaction way to blow lottery winnings than buying a professional sports franchise - these are absolutely scandal-plagued, cut-throat businesses that are essentially helmed by the best minds in business and you want to take them on as a guy who bought a $2 Mega Millions ticket? With the obvious and notable exceptions of the dirtballs who stumbled into their own personal lottery tickets by virtue of buying early football franchises in major cities.
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Oct 23, 2018 14:08
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Football teams are vanity projects. They don't make much money, although restrictive expansion makes existing teams incredibly valuable. The NFL is also real picky about who can buy in. There are plenty of wealthy people who have tried to buy ownership stakes and were rebuffed. Your lottery-winning rear end isn't getting poo poo. Sports teams change hands so rarely that it's tough to determine their real value. When the LA Clippers' owner had to sell his team for racist remarks it went for far more money than expected. So much that the Atlanta Hawks owner self-reported his own mildly racial (not even racist) memo just so he could be 'forced' to sell and cash out.
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Oct 23, 2018 14:55
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In a lot of cities, sports teams are owned by local mogul developers who use the threat of taking away the team to squeeze public money out of the cities they're in. See for example: Every unnecessary new arena ever and all the sweet, sweet tax breaks/free land/just straight up bags of money they get.
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Oct 23, 2018 16:08
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Krispy Wafer posted:Football teams are vanity projects. They don't make much money, although restrictive expansion makes existing teams incredibly valuable. The NFL is also real picky about who can buy in. There are plenty of wealthy people who have tried to buy ownership stakes and were rebuffed. Your lottery-winning rear end isn't getting poo poo. Convincing a shitload of people that professional sports teams "don't make much money" so you can get them to vote in a shitload of public subsidies for you is definitely GWM.
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Oct 23, 2018 16:55
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Krispy Wafer posted:Football teams are vanity projects. They don't make much money, although restrictive expansion makes existing teams incredibly valuable. The NFL is also real picky about who can buy in. There are plenty of wealthy people who have tried to buy ownership stakes and were rebuffed. Your lottery-winning rear end isn't getting poo poo. Football teams make boatloads of cash, owners fight tooth and nail to keep the books closed so no one sees that and they can cry poverty.
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Oct 23, 2018 17:07
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Thanatosian posted:Convincing a shitload of people that professional sports teams "don't make much money" so you can get them to vote in a shitload of public subsidies for you is definitely GWM. Schrödinger's profit: They simultaneously will bring in huge tax revenues yet won't make any money without hundreds of millions from the public.
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Oct 23, 2018 17:11
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EAT FASTER!!!!!! posted:Plus I can't think of a higher stress or lower satisfaction way to blow lottery winnings than buying a professional sports franchise - these are absolutely scandal-plagued, cut-throat businesses that are essentially helmed by the best minds in business and you want to take them on as a guy who bought a $2 Mega Millions ticket? Excuse you, I would automatically be a much better owner just by virtue of not being Dan Snyder. The fans would spontaneously throw a parade in my honor the instant I bought the team.
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Oct 23, 2018 17:19
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almost nobody buys a sports team with straight cash (steve ballmer is the exception) or without a partnership group. and sports teams are great tax shelters!!!
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Oct 23, 2018 17:20
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Here's a fun one from r/legaladvice:quote:My friend works in the medical field and went in to his bosses office 5 months ago and asked for a raise. They told him they would and also give him extra incentives for certain procedures that he performs. He started making almost double what he was previously getting paid, but didn't think much of it because he was told he would be receiving a substantial raise. His lifestyle dramatically improved and he has been spending the money, bought a new car with payments, racked up some CC debt and so on. He basically has been spending all of it. Bolded my favorite part. Got a huge raise? Start going into debt! https://old.reddit.com/r/legaladvice/comments/9qhtdq/my_friends_employer_accidentally_overpaid_him_by/
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Oct 23, 2018 18:27
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DariusLikewise posted:Football teams make boatloads of cash, owners fight tooth and nail to keep the books closed so no one sees that and they can cry poverty. Sure, they make money, but expenses are high and the ROI isn't great if you're not including their skyrocketing resale value (a result of forced scarcity and high barriers to entry). If you're already rich and you wanted to make more money then there are better ways to do it. If not for revenue sharing and TV contracts plenty of teams would lose money and TV contracts are about to get a lot skinnier. None of this applies for the top tier franchises like the Yankees, Cowboys, and Patriots though since they print money. But for smaller market teams you could do a whole lot more with that money than lose most your games. That said, buying a team in the 1970's for maybe 10 million dollars and now having it worth 2+ billion is about as GWM as you can get.
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Oct 23, 2018 19:01
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Electrical Fire posted:Here's a fun one from r/legaladvice: To be honest though, if they tell him he's getting a raise, and then gets more money, them trying to make him pay it back is pretty lovely. I imagine he could fight that in court pretty easily if it couldn't be immediately identified as an accounting error.
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Oct 23, 2018 19:16
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CornHolio posted:To be honest though, if they tell him he's getting a raise, and then gets more money, them trying to make him pay it back is pretty lovely. I imagine he could fight that in court pretty easily if it couldn't be immediately identified as an accounting error. I don't think so. It's pretty clearly an accounting error (the raise was supposed to be moderate, not a doubling of his pay), and accounting department keep track of what's paid out each pay cycle to a fault. Obviously there was a screwup in applying a modifier to this guy's pay but even the most rudimentary of accounting processes would show a clear audit trail of the error, meaning it couldn't be fought legally.
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Oct 23, 2018 19:23
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Bringing this thread back to its roots with a comment on the FI daily thread: daily thread link quote:Ugh... ding to our (mostly my) FI plans, we now own a horse. He will be a trail riding pony and otherwise live the good life at the boarding stable for the next 10-12 years. 
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Oct 23, 2018 19:24
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Krispy Wafer posted:If not for revenue sharing and TV contracts plenty of teams would lose money "If not for the more than $7 billion in revenue from tv contracts, they'd lose money." That's a real case of "Other than that, Mrs. Lincoln, how was the play?"
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Oct 23, 2018 19:58
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Long-term loans: The fuel that's powering Canadian car sales "Based on what the dealer offered, she went with a seven-year payment plan, but the salesman pitched her on one extra enticement she couldn't refuse. While checking her credit history, the salesman noticed that she had about $4,500 in student loans on her file. He suggested she roll those debt into her new zero per cent interest car loan." What on earth. Is this really a thing??
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Oct 23, 2018 20:55
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Krispy Wafer posted:Sure, they make money, but expenses are high and the ROI isn't great if you're not including their skyrocketing resale value (a result of forced scarcity and high barriers to entry). If you're already rich and you wanted to make more money then there are better ways to do it. If not for revenue sharing and TV contracts plenty of teams would lose money and TV contracts are about to get a lot skinnier. None of this applies for the top tier franchises like the Yankees, Cowboys, and Patriots though since they print money. But for smaller market teams you could do a whole lot more with that money than lose most your games. dude the NFL is a 9 billion revenue business with extremely high margins
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Oct 23, 2018 20:55
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Phanatic posted:"If not for the more than $7 billion in revenue from tv contracts, they'd lose money." Sure. Those deals were made when the NFL was the only TV category increasing year over year and the price reflected that. Ratings have dropped between 15 and 20% in the last 2 years. The next contract will reflect that. If viewership keeps going down the next contract is going to be a bloodbath. I probably understated the sport's revenue generation, what I was trying to get at is it's iffy profitability at mid-to-low tier markets which rely a lot on revenue sharing and their chunk of the TV contracts. It'd probably be more profitable for owners to invest their money in something else. Their biggest value is the fact cities can't make new sports teams, so existing teams are that much more expensive. Even the Browns.
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Oct 23, 2018 21:16
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