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A very small BWM story but a coworker asked me if my credit card was with a brick and mortar bank. I use Capital One, which doesn't really have them and I told him so. He said he loved being able to have a relationship with his bankers. I told him I couldn't remember the last time I needed the services of an in-person banker. He said it was very nice to be able to stop into a Chase branch whenever, that he knew all of the bankers there by name and they knew my coworker. I asked why he needed to stop into the bank so often to speak to a banker. He said they could just pop in whenever to get any fees removed from his account. I asked him where the fees were coming from. He said from the bank. I couldn't bring myself to say anything else.
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Nov 20, 2018 15:47
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Leon Trotsky 2012 posted:One of my coworkers today was explaining that they finally finished trying to get a new car with fewer miles and lower their monthly payment. She had about 95,000 miles on her current car. I found a used car in my coworker's price range to help him out (Corolla, low mileage) and he said "...but it's not black  " and ended up going to a buy here/pay here lot and getting scammed
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Nov 20, 2018 15:48
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Apparently, there is a new feature on Facebook that lets you open a store or sell things through Facebook. My friend the #Bogwitch has opened her own store on there to sell her tinctures. There's a big sale going on because November is a vibrationally significant month.  The sale price for a 4 oz homeopathic tincture is $82. She has sold 179 so far according to her page. This is GWM for her, but BWM for 179 people. Note: It is a homeopathic tincture. That means it is water.  You can also book her band through the marketplace. 
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Nov 20, 2018 15:56
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EugeneJ posted:I found a used car in my coworker's price range to help him out (Corolla, low mileage) and he said "...but it's not black
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Nov 20, 2018 15:57
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Leon Trotsky 2012 posted:Apparently, there is a new feature on Facebook that lets you open a store or sell things through Facebook. Ok, what kind of numerology is involved here with processing the dates into 11/1 sequences?
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Nov 20, 2018 16:05
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Was this discussed? https://www.wealthsimple.com/en-us/magazine/money-diary-couple-debt-us quote:I’m Kate. I’m 46. I have a law degree. I don’t practice law though. When I got pregnant with our first, I took the highest-paying job I could find that still allowed me to stay home and be close to my kids when they were growing up. So I work for an insurance company, paying claims. I make about $70,000 a year. quote:My name is Tom. I have a graduate degree in advertising. I’m 48 and I’m an insurance claims manager. I earn about $90,000 a year doing that, but I also work a second job as a bartender a couple times a week catering in private homes. I make between $100 and $250 a night doing that. quote:We have an insurmountable amount of debt. I’m not even exactly sure how much it is anymore. We have $60,000 in credit cards, $18,000 in a loan, and then there’s our mortgage and the second mortgage we took out, which is about $360,000 all together. And that’s not even counting our student loans. How much are those, Tom? Are you at home? Can you look it up? They seem fine. quote:We built the house we’re in now in 2007. It’s a great house. But I knew from the beginning it was a stretch. It was the freewheeling times, and so they would do anything to get you into a house. They gave us a second mortgage that I’m paying right along with the original mortgage. We’ve refinanced the first mortgage a little bit, but we can never refinance it all together into one because it’s way too much. The house cost $360,000, and we have mortgages for just about $360,000. quote:The sticker price on the school is $32,000 a year, so it would be $96,000 if we paid full price. But we have a good deal — we’ll pay $15,000 for the three of them. But, of course, it’s all going back on credit. There’s a company that offers educational loans for private school. Build your dream house for your 3 kids but don't bother to look into the public schools. quote:We’re always broke. We shop at Goodwill. We have a garden so that we can have fresh vegetables instead of going out and having a decent meal somewhere. We don’t have fancy things in our house at all. But we do spend a lot of money on food. Like a huge amount. Organic and vegan this and that. Insane amounts on fresh produce. It would not kill our kids to eat a sleeve of ramen noodles every once in a while. Our kids are used to sushi. On a Friday night, we’ll go to Whole Foods, and my son Luke will get a $15 thing of sushi and a smoothie. It’s kind of crazy that we haven’t reeled this in. I mean, I support feeding your kids fresh stuff but you can do that without spending all that much. Maybe you shouldn't prioritize organic food over your crippling debt. quote:Like, when my son went to prom, we didn’t rent a tux because we didn’t have the cash, but we bought a suit because we have a Nordstrom card.  Honestly I'm only like 1/3 the way through
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Nov 20, 2018 16:11
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Ashcans posted:Ok, what kind of numerology is involved here with processing the dates into 11/1 sequences? November 1, 2018 = November (11th month), 1, 2+0+1+8 = 11,1,11 10 is 1+0 or 1, 28 is 2+8 = 10, which is 1+0 and so on 
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Nov 20, 2018 16:17
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Leon Trotsky 2012 posted:One of my coworkers today was explaining that they finally finished trying to get a new car with fewer miles and lower their monthly payment. She had about 95,000 miles on her current car. Did she say how much time she had left on the first loan? If it was 6 years then this might have worked out. I'm going to guess it was 2 years. Holy poo poo, I just realized when you said she had a $4k credit that wasn't $4k in equity. Lockback posted:Honestly I'm only like 1/3 the way through OMG all those quotes are from the same couple!?! Krispy Wafer fucked around with this message at 16:23 on Nov 20, 2018 |
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Nov 20, 2018 16:17
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Bad With Money 2018: Our kids are used to sushi
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Nov 20, 2018 16:20
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Krispy Wafer posted:OMG all those quotes are from the same couple!?! Yeah it's a discussion, and honestly there's a bunch more but it was already going long. quote:Tom: We got two rescue dogs, and everything was fine for a couple years, and then we had to put one down. We didn’t have the money for it. So it ended up going on a card. But I don’t drive a new car. I have a 2012 Toyota Corolla. I leased it new. It had some minor damage on it — just a broken mirror — and I’m not sure what they would have charged for that. So, instead, I just kept it after the lease. I pay a huge interest rate on it, but...
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Nov 20, 2018 16:28
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Leon Trotsky 2012 posted:Apparently, there is a new feature on Facebook that lets you open a store or sell things through Facebook. my friend was a backend webmaster dude and was telling about a site that would sell dogshit like "love potions to make him fall in love" and we bullshitted but half seriously talked about making an app to cut out the middleman. I think we should revisit that
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Nov 20, 2018 16:35
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Ran across this on reddit. https://www.bloomberg.com/graphics/2018-risking-it-uninsured-family/ Family with $100k post tax income crippled by health insurance costs of 15% their income, not mysterious 50-60% "other" expense category which appears to be $2-3k a month in car payments. Also they seem to go out of their way to avoid any college health insurance plans.
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Nov 20, 2018 16:42
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Do people in other countries love cars as much as Americans do? And Canada doesn't count because they somehow love stupid expensive trucks even more than people in the States.
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Nov 20, 2018 16:45
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Hoodwinker posted:A very small BWM story but a coworker asked me if my credit card was with a brick and mortar bank. I use Capital One, which doesn't really have them and I told him so. He said he loved being able to have a relationship with his bankers. I told him I couldn't remember the last time I needed the services of an in-person banker. He said it was very nice to be able to stop into a Chase branch whenever, that he knew all of the bankers there by name and they knew my coworker. I asked why he needed to stop into the bank so often to speak to a banker. He said they could just pop in whenever to get any fees removed from his account. I asked him where the fees were coming from. He said from the bank. Paying bank fees is BWM but the retail banking industry is stacked up to extract maximum fees out of people who can least afford them so there's that. Personally in my line of work I require a lot of witnessed and notarized documents and the reason I go to the bank branch is primarily for that kind of thing, it is free and useful. Also less commonly things like wire transfers or whatever which are possible to do over the phone or by email but ultimately simpler to just go to the bank branch.
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Nov 20, 2018 16:51
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Krispy Wafer posted:Do people in other countries love cars as much as Americans do? No, but North American infrastructure is built around the idea of encouraging personal vehicle ownership.
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Nov 20, 2018 16:55
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FrozenVent posted:No, but North American infrastructure is built around the idea of encouraging personal vehicle ownership.
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Nov 20, 2018 16:56
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Harry posted:Ran across this on reddit.
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Nov 20, 2018 17:04
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Lockback posted:Was this discussed? You would have had to quote the whole thing because holy poo poo More bitcoin for the thread. It's wonderful that the internet has developed more currencies for people to be bad with (sorry if some of these are repeats): https://twitter.com/charliebilello/status/1064864525952958464 https://twitter.com/crypto/status/1064887391658418181 https://twitter.com/Bitfinexed/status/1064912184822648832 https://twitter.com/CryptoMessiah/status/1064505732991778822 https://twitter.com/tomas_btc/status/1064698287071129600 The price of the coins dropping is one thing, what I'm really looking forward to is the drama when Tether finally breaks down.
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Nov 20, 2018 17:09
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Oh my God https://twitter.com/willsommer/status/1064875576035561472
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Nov 20, 2018 17:10
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Harry posted:Ran across this on reddit. Further down there’s a graphic that breaks down their monthly budget. It separates out car debt, college, and mortgage with a separate mysterious “debt payments” category for $2k/month. But then a few paragraphs down it says they have nothing but $20k left on the mortgage. Sooooo they lease cars and what’s the mystery debt?
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Nov 20, 2018 17:11
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Krispy Wafer posted:Do people in other countries love cars as much as Americans do? germans
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Nov 20, 2018 17:18
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Lockback posted:Yeah it's a discussion, and honestly there's a bunch more but it was already going long. this is amazing quote:Tom: I don’t let it get to me that way. But I was pretty upset about the 401(k) situation. I think it was our demise. Two years ago I thought the answer to all our problems was cashing out my 401(k). It came out to be around $70,000, and I paid off three cards with it, and I also paid off the $12,000 loan I’d taken using the 401(k) as collateral. I thought, This is great. We had money for a brief period of time, so we had a pretty good Christmas that year. I knew there would be tax penalties, but unfortunately the penalties were more than I thought, and we ended up owing $18,000 to the IRS and $2,000 to the state.
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Nov 20, 2018 17:23
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OctaviusBeaver posted:this is amazing quote:Tom: I don’t let it get to me that way. But I was pretty upset about the 401(k) situation. I think it was our demise. Two years ago I thought the answer to all our problems was cashing out my 401(k). It came out to be around $70,000, and I paid off three cards with it, and I also paid off the $12,000 loan I’d taken using the 401(k) as collateral. I thought, This is great. We had money for a brief period of time, so we had a pretty good Christmas that year. I knew there would be tax penalties, but unfortunately the penalties were more than I thought, and we ended up owing $18,000 to the IRS and $2,000 to the state.
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Nov 20, 2018 17:27
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howdoesishotweb posted:Further down there’s a graphic that breaks down their monthly budget. It separates out car debt, college, and mortgage with a separate mysterious “debt payments” category for $2k/month. But then a few paragraphs down it says they have nothing but $20k left on the mortgage. Sooooo they lease cars and what’s the mystery debt? 
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Nov 20, 2018 17:29
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Is there any modern example of a currency being revalued? Like, literally any precedent? The linked social media bits sound exactly like I imagine the inner monologue of an audience member of one of those Jim Bakker seminars https://twitter.com/Brinkley88/status/946188373882036224
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Nov 20, 2018 17:30
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This can't be real. They keep hitting every tree branch on the way down. Would a couple making $170k a year even get income based deferrals on their student loans or discount private school? This is some kind of cautionary tale that is way exaggerated to make a point. Because otherwise one of them will try to fake their own death for the insurance.
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Nov 20, 2018 17:33
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Power of Pecota posted:Is there any modern example of a currency being revalued? Like, literally any precedent? like officially? Cuz Zimbabwe dollars were quite the must have novelty AND are no longer being printed so the 100 trillion bill I bought off a goon for 20 bucks back in college is going for 90+ now!
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Nov 20, 2018 17:34
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Ellipson posted:https://twitter.com/tomas_btc/status/1064698287071129600 I love this guy, 'bitcoins ruined my life, please give me more bitcoins'. Maybe beg for real currency this time?
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Nov 20, 2018 17:35
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Ashcans posted:I love this guy, 'bitcoins ruined my life, please give me more bitcoins'. Maybe beg for real currency this time? look man are you gonna help him dollar cost average or not
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Nov 20, 2018 17:38
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I changed my mind, Tom from that article is actually my favorite guy: quote:Kate: OK, but that’s not how you can live your life. You know? You can’t just ignore this. Are we sure that Tom isn't also Tomas from bitcoin? That would be perfect.
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Nov 20, 2018 17:43
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https://twitter.com/felixsalmon/status/1064877220487938050
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Nov 20, 2018 17:52
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Getting rich by buying Iraqi dinars was an email scam going around since like, 2003.
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Nov 20, 2018 17:52
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Lockback posted:Was this discussed? this is real loving sad, yes they are living in a bed that they've made but also they are depressed and miserable and can't sleep and the wife wants a divorce but they can't afford it, they can't even be in the same room together when talking about their money problems.
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Nov 20, 2018 17:52
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Ironically, with the Iran deal, their economy had some healthy chance to grow and bring their economy up, which would in turn raise the value of the dinar. Not back to its previous value, but probably enough for them to at least recoup their "investments". But then, you know, Trump.
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Nov 20, 2018 17:59
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Yea the whole thing gets pretty grim there in the final turn: quote:Kate: Frankly, what I imagine is one of us will die from stress, and the life insurance will pay things off. His wife is breaking down crying over wanting to divorce because of the strangling debt, and he just moves right on to 'well we cut $200 on our lease' without even addressing it. 
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Nov 20, 2018 18:00
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Power of Pecota posted:Is there any modern example of a currency being revalued? Like, literally any precedent? There's one you might have heard of, it's called the yuan. (Yes, there are plenty of modern examples of a currency being revalued. We've discussed Venezuela in this thread.)
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Nov 20, 2018 18:05
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Ashcans posted:Yea the whole thing gets pretty grim there in the final turn: Right above that: quote:Kate: The guy next to us, who has built our whole neighbourhood, has probably filed for bankruptcy 20 times! Harry fucked around with this message at 18:12 on Nov 20, 2018 |
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Nov 20, 2018 18:10
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totalnewbie posted:Ironically, with the Iran deal, their economy had some healthy chance to grow and bring their economy up, which would in turn raise the value of the dinar. Not back to its previous value, but probably enough for them to at least recoup their "investments". Yeah, no one will ever revalue it in any way that'd help dumbass American speculators. What they'll do is trade out old currency for new script, which means your next-to-worthless money is worth slightly more for about a day (see: Venezuela). But I think they make you do that in person. The Iraqi government isn't going to bend over backwards to help foreign currency speculators. I think Soros got most of his early hatred because he was a currency speculator who made bushels while others lost everything. So sure, it makes perfect sense that Trump supporters would want to be mini-Soro's. Why not.
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Nov 20, 2018 18:12
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Krispy Wafer posted:Yeah, no one will ever revalue it in any way that'd help dumbass American speculators. What they'll do is trade out old currency for new script, which means your next-to-worthless money is worth slightly more for about a day (see: Venezuela). But I think they make you do that in person. The Iraqi government isn't going to bend over backwards to help foreign currency speculators. Ohh, actually, I misread and was thinking it was an Iranian currency, not Iraqi. Yeah, nevermind.
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Nov 20, 2018 18:15
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That Kate and Tom bullshit is probably the worst BWM I've read in a very long time. Pretty loving disgusting behavior and attitude..
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Nov 20, 2018 18:19
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