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SiGmA_X
May 3, 2004
SiGmA_X

quote:

https://www.reddit.com/r/personalfinance/comments/a4lqnu/single_dad_struggling/

Single dad struggling...

Divorced about 1 year, sole custody...drive to work is 52 miles each way. Car had 381000 miles on it. A/C broke and timing belt goes...so I purchased a new car...5 months later I have a new job that gives me a car...money is tight.. so I would like to go back in time and avoid high car payment... if I trade it in now I'm upside down $5000. Any suggestions to a smaller car payment? Looking for a view I have not considered

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Moneyball
Jul 11, 2005

It's a problem you think we need to explain ourselves.

quote:

381000 miles

:eyepop:

FAUXTON
Jun 2, 2005

spero che tu stia bene

KYOON GRIFFEY JR posted:

one thing you will note if you hang around technically competent people qualified in a specific field (doctors, pilots, even such creatures as engineers) is that the fact that they know a lot about one thing does not mean that they know anything about anything else

it doesn't stop them from believing they do, though

how dare you claim knowing calculus can't help me make better posts

SiGmA_X
May 3, 2004
SiGmA_X
Dude srsly... And somehow underwater >$5k?!

Found another car one!

quote:

https://www.reddit.com/r/personalfinance/comments/a4uxqy/15k_in_debt_with_a_car_on_its_last_legs_is_now/
$15k in debt with a car on its last legs... is now the time to get a new car?

Hoping to bounce my ideas with respect to getting a new (used) car in my financial situation off of you all so please give me your thoughts!

My financial situation (all in USD): TL;DR: My net worth is -$15k. In long, I am 27 years old (about to turn 28) and my take home pay is a little over $4k a month. I currently have student loans of $32k with 3.5% interest, low cost index fund of $6k, and an emergency savings of $7k. I would be using the majority of this emergency savings as a downpayment because my current job situation is very stable. Over the last year I have had about a 50% (~$2k) savings rate and I would like to maintain and increase that savings rate so to be able to retire before 50.

My car situation: I have always tried to run cars into the ground and so I currently have a 15 year old Honda Civic with about 200,000 miles on it. I would like to keep the car that I get after the Civic for at least 10 years.

The problem: I have a $2k repair bill (replace clutch & rear brakes, a leaky engine gasket, and some axle issues) and will need to buy new all seasons within the next two months before a cross country move.

I have been looking at cars and seeing as how I would like to keep the car for at least 10 years I am looking at a top tier, 2 year old hatchback for around $25k out the door. Car payments with a $5-6k downpayment would be about $300-$400 a month and my car insurance would go up by about $20 ($80->$100) a month.

Question: If you were in my financial situation ($15k in debt, edit: $32k in debt and -$15k net worth), would you buy a new (used) car now or wait?

Thank you for any advice you can provide!
He only has $7k in savings, moving across country, hopes he has a good job lined up (my words), and is going to spend his savings to get into debt on a new car.


quote:

https://www.reddit.com/r/personalfinance/comments/a527fx/y_me_taxes_do_this/

Y me taxes do this ?

So I was calculating the percentage taxed from each week and the more I make the more I'm taxed even though everything falls within the same bracket, like if I make only 50$ more I get taxed something like .5% more and vice versa 🤔

ChickenOfTomorrow
Nov 11, 2012

god damn it, you've got to be kind

SiGmA_X posted:

Found another car one!
He only has $7k in savings, moving across country, hopes he has a good job lined up (my words), and is going to spend his savings to get into debt on a new car.

That is one hell of a false economy, right? There's no way spending $25k for a newer car is better with money than $2k to keep their old car running, unless there's a giant difference in mpg.

Spokes
Jan 9, 2010

Thanks for a MONSTER of an avatar, Awful Survivor Mods!

ChickenOfTomorrow posted:

That is one hell of a false economy, right? There's no way spending $25k for a newer car is better with money than $2k to keep their old car running, unless there's a giant difference in mpg.

25k for a new car is certainly not the best option, but it sounds like he’s looking at 4k+ to get his civic in shape to move, so it’s probably not worth it in the short run but I can see where he’s coming from and I have a soft spot for people who have already driven something hundreds of thousands of miles

(the correct choice is “spend 11k on something with 50000 miles and drive it until 2027, nobody needs a new goddam car”)

Shipon
Nov 7, 2005

ChickenOfTomorrow posted:

That is one hell of a false economy, right? There's no way spending $25k for a newer car is better with money than $2k to keep their old car running, unless there's a giant difference in mpg.

On the other hand, it really, really sucks to dump money into repairing some 15 year old bucket for way too much because cars just get old and parts don't last forever. I have a beater from 1989 and I've probably put twice the amount I bought it for into repairs since I got it and I'm on the verge of just eating a car payment on something $8-10k instead because having a car that pre-dates mandatory airbags is probably going to get me killed at some point, if being stranded on the side of the road waiting for another tow every 8-10 months doesn't do it first.

BEHOLD: MY CAPE
Jan 11, 2004

Shipon posted:

On the other hand, it really, really sucks to dump money into repairing some 15 year old bucket for way too much because cars just get old and parts don't last forever. I have a beater from 1989 and I've probably put twice the amount I bought it for into repairs since I got it and I'm on the verge of just eating a car payment on something $8-10k instead because having a car that pre-dates mandatory airbags is probably going to get me killed at some point, if being stranded on the side of the road waiting for another tow every 8-10 months doesn't do it first.

Beep boop dismiss your thoughts of personal safety and creature comfort dear BWM poster as the only metric by which you will be judged here is the least possible cost for a vehicle with wheels that moves you to your job

Duckman2008
Jan 6, 2010

TFW you see Flyers goaltending.
Grimey Drawer

Fitzy Fitz posted:

Should I leave my toxic job and pay back high training costs ?


Why would you ever accept a job that threatens this???

When I worked at ATT, they offered tuition reimbursement ($5,000-6,000 a year), but if you left within 3 years of school you had to pay it all back. On another note, ATT sucks.

howdoesishotweb
Nov 21, 2002

KYOON GRIFFEY JR posted:

one thing you will note if you hang around technically competent people qualified in a specific field (doctors, pilots, even such creatures as engineers) is that the fact that they know a lot about one thing does not mean that they know anything about anything else

it doesn't stop them from believing they do, though

You don’t say..

Point of View: Mandatory vaccines are bad medicine, bad politics

BWM: advocating against cheap form of public health for pseudoscience reasons

brugroffil
Nov 30, 2015
Probation
Can't post for 3 days!

Duckman2008 posted:

When I worked at ATT, they offered tuition reimbursement ($5,000-6,000 a year), but if you left within 3 years of school you had to pay it all back. On another note, ATT sucks.

This is pretty common when a company is paying you to go to school/get certified somewhere else.

That story read like he had to pay the company back $15k for in-house training. Basically a $15k fee to leave the company, ever. I wonder how well that'd ever hold up legally, but of course you'd have to have the resources to challenge it!

jjack229
Feb 14, 2008
Articulate your needs. I'm here to listen.

howdoesishotweb posted:

You don’t say..

Point of View: Mandatory vaccines are bad medicine, bad politics

BWM: advocating against cheap form of public health for pseudoscience reasons


Steven posted:

It should be pretty clear that if viruses and bacteria were created mainly to kill us, they would have succeeded by now.

That is an interesting line of argument.

Fitzy Fitz
May 14, 2005




How does he have an MD

Spokes
Jan 9, 2010

Thanks for a MONSTER of an avatar, Awful Survivor Mods!

Fitzy Fitz posted:

How does he have an MD

anyone can get an MD, some just end up aenistheesialogists

Hoodwinker
Nov 7, 2005

Spokes posted:

anyone can get an MD, some just end up aenistheesialogists
you misspelled aerithsneezoologist

CannonFodder
Jan 26, 2001

Passion’s Wrench

BEHOLD: MY CAPE posted:

Beep boop dismiss your thoughts of personal safety and creature comfort dear BWM poster as the only metric by which you will be judged here is the least possible cost for a vehicle with wheels that moves you to your job
A vehicle with wheels that constantly breaks down then fails at the "move you to your job" function. Missing work and possibly getting fired for missed work is BWM.

canyoneer
Sep 13, 2005


I only have canyoneyes for you

KYOON GRIFFEY JR posted:

one thing you will note if you hang around technically competent people qualified in a specific field (doctors, pilots, even such creatures as engineers) is that the fact that they know a lot about one thing does not mean that they know anything about anything else

it doesn't stop them from believing they do, though

NBA superstar Steph Curry just went on record saying the moon landing was a hoax

Spokes
Jan 9, 2010

Thanks for a MONSTER of an avatar, Awful Survivor Mods!

canyoneer posted:

NBA superstar Steph Curry just went on record saying the moon landing was a hoax

He didn't even finish college, I bet his student loans are killing him

Residency Evil
Jul 28, 2003

4/5 godo... Schumi

Fitzy Fitz posted:

How does he have an MD

I mean Trump technically went to Wharton so

Squinky v2.0
Nov 16, 2006

Behind you! A three headed monkey!

College Slice
https://www.lasvegasadvisor.com/question/triple-zero-roulette/

Vegas is moving towards Triple Zero Roulette

It’s exactly like regular roulette, except the house wins 2.5% more often

It was originally intended to be roulette with a lower minimum bet - less cash passing through the table but the house keeps a larger cut

then they discovered they could raise the minimum bet to be the same as the old tables, put them directly next to the objectively better 2-zero tables, and people would still play them when given a choice


This on top of the fact that the United States is basically the only place where the double zero wheel is standard

Sundae
Dec 1, 2005

Squinky v2.0 posted:

https://www.lasvegasadvisor.com/question/triple-zero-roulette/

Vegas is moving towards Triple Zero Roulette

It’s exactly like regular roulette, except the house wins 2.5% more often

It was originally intended to be roulette with a lower minimum bet - less cash passing through the table but the house keeps a larger cut

then they discovered they could raise the minimum bet to be the same as the old tables, put them directly next to the objectively better 2-zero tables, and people would still play them when given a choice


This on top of the fact that the United States is basically the only place where the double zero wheel is standard

I was in Vegas for Christmas last year (wife and I decided 'gently caress in-laws, this is our year') and it blew my mind how few of the regular games are still there. I went through six casinos before I found a standard-rules blackjack table, and even then it had a $50 minimum bet. The lower tables all either ran 4:3, had modified dealer hit/stand rules, or sometimes both. One of the MGM casinos I was in had also dropped free drinks except in the high-roller area, so you couldn't even justify it as "well, at least I'm not paying $12 for a Guinness" while sitting at the table.

Gambling is really hard to stomach when you know how hosed the odds are. :(

BMan
Oct 31, 2015

KNIIIIIIFE
EEEEEYYYYE
ATTAAAACK


Sundae posted:

Gambling is really hard to stomach when you know how hosed the odds are. :(

good

Nocheez
Sep 5, 2000

Can you spare a little cheddar?
Nap Ghost

Sundae posted:

I was in Vegas for Christmas last year (wife and I decided 'gently caress in-laws, this is our year') and it blew my mind how few of the regular games are still there. I went through six casinos before I found a standard-rules blackjack table, and even then it had a $50 minimum bet. The lower tables all either ran 4:3, had modified dealer hit/stand rules, or sometimes both. One of the MGM casinos I was in had also dropped free drinks except in the high-roller area, so you couldn't even justify it as "well, at least I'm not paying $12 for a Guinness" while sitting at the table.

Gambling is really hard to stomach when you know how hosed the odds are. :(

You have to go downtown to "old" Vegas to get anything worthwhile. My favorite is $2 roulette with $.50 chips at El Cortez. You can actually play for a while and enjoy drinks with the craziest people you'll ever meet.

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
Gambling is pure entertainment so I don't sweat the Expected Loss Per Hour metric of a game, but I can't imagine wanting to play Roulette. Roulette is a pure, slow transferring of your money to the house without even really DOING anything.

Craps is fun, social/interactive, and actually has the best odds in a casino.

Blackjack is also acceptable.

(but all Casino Games are BWM)

Dik Hz
Feb 22, 2004

Fun with Science

Spokes posted:

anyone can get an MD, some just end up aenistheesialogists

You mean anusthesiologists?

BEHOLD: MY CAPE
Jan 11, 2004

GoGoGadgetChris posted:

Gambling is pure entertainment so I don't sweat the Expected Loss Per Hour metric of a game, but I can't imagine wanting to play Roulette. Roulette is a pure, slow transferring of your money to the house without even really DOING anything.

Craps is fun, social/interactive, and actually has the best odds in a casino.

Blackjack is also acceptable.

(but all Casino Games are BWM)

Craps is objectively the best casino game for sure. Most casinos on strip run $10 craps tables at some point but usually the minimum is $15 on Friday night and weekends when they are busy

FAUXTON
Jun 2, 2005

spero che tu stia bene

Dik Hz posted:

You mean anusthesiologists?

Anuscheesiologists

Volmarias
Dec 31, 2002

EMAIL... THE INTERNET... SEARCH ENGINES...
An Aussie theologist

Peace be with you, mate :australia:

Virigoth
Apr 28, 2009

Corona rules everything around me
C.R.E.A.M. get the virus
In the ICU y'all......



BEHOLD: MY CAPE posted:

Craps is objectively the best casino game for sure. Most casinos on strip run $10 craps tables at some point but usually the minimum is $15 on Friday night and weekends when they are busy

You gotta hit the $5 on the old strip at the D where the sad ladies kinda dance on platforms.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Nocheez posted:

You have to go downtown to "old" Vegas to get anything worthwhile. My favorite is $2 roulette with $.50 chips at El Cortez. You can actually play for a while and enjoy drinks with the craziest people you'll ever meet.

They got rid of it, or at least it's not on the weekends anymore unfortunately.

feller
Jul 5, 2006


GoGoGadgetChris posted:

Gambling is pure entertainment so I don't sweat the Expected Loss Per Hour metric of a game, but I can't imagine wanting to play Roulette. Roulette is a pure, slow transferring of your money to the house without even really DOING anything.

Craps is fun, social/interactive, and actually has the best odds in a casino.

Blackjack is also acceptable.

(but all Casino Games are BWM)

this is 100% correct

Suspicious Lump
Mar 11, 2004
Has this been posted?
https://www.reddit.com/r/wallstreetbets/comments/a5a18z/it_has_been_a_pleasure_to_yolo_with_you_gentlemen/



quote:

I’ll deal with it after I deal with living check to check. 2nd job here I come.

quote:

Now that I am cash poor you fags should make me karma rich.
Edit: I’m gonna start a go fund me. Any backers?
Edit2: if any VC, prop fund, hedge fund, etc is looking to bring on a new analyst/trader send me a DM.
Wowzer. The audacity to ask employers for a job (a second one mind you) after losing such a large amount.

Dik Hz
Feb 22, 2004

Fun with Science

Suspicious Lump posted:

Wowzer. The audacity to ask employers for a job (a second one mind you) after losing such a large amount.
The old joke about how the best engineer to employ is the one whose bridge collapsed because they learned from it. Yeah that doesn't apply to buttcoin traders.

Blinkman987
Jul 10, 2008

Gender roles guilt me into being fat.

Suspicious Lump posted:

Has this been posted?
https://www.reddit.com/r/wallstreetbets/comments/a5a18z/it_has_been_a_pleasure_to_yolo_with_you_gentlemen/




Wowzer. The audacity to ask employers for a job (a second one mind you) after losing such a large amount.

That's the best possible graph.

Early - Yeah, I'm up huge! To infinity and beyond!
MId - Ok, I lost some but I'm getting it back! When I get back to my early peak, I'm going to sell.
Late - Ok, I lost some again but I'm getting it back! When I get to last peaks, I'll sell.
End - I have no money.

canyoneer
Sep 13, 2005


I only have canyoneyes for you

Blinkman987 posted:

That's the best possible graph.

Early - Yeah, I'm up huge! To infinity and beyond!
MId - Ok, I lost some but I'm getting it back! When I get back to my early peak, I'm going to sell.
Late - Ok, I lost some again but I'm getting it back! When I get to last peaks, I'll sell.
End - I have no money.

The extra funny part is that the chart starts with a stock price at $47 and ends at $37 over the course of a year. At first he only owned shares, but started to double down and trade options when it dipped.
So he multiplied his losses. Had he just held onto it, his original $850k would be worth $670k today

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

Suspicious Lump posted:

Has this been posted?
https://www.reddit.com/r/wallstreetbets/comments/a5a18z/it_has_been_a_pleasure_to_yolo_with_you_gentlemen/




Wowzer. The audacity to ask employers for a job (a second one mind you) after losing such a large amount.

It's amazing how little dignity is worth on Reddit. It just makes me think of the guy who posted about getting a job with google or Best Buy and got fired for revealing a service that hadnt been announced and was like whoops I got fired Reddit AMA

greazeball
Feb 4, 2003



Nocheez posted:

You have to go downtown to "old" Vegas to get anything worthwhile. My favorite is $2 roulette with $.50 chips at El Cortez. You can actually play for a while and enjoy drinks with the craziest people you'll ever meet.

El Cortez is the best. The most fun I had in Vegas was at their $2/4 limit poker. One guy had been there, at the table (eating his meals there and everything), for about 20 hours when I sat down. He had gotten 4 queens at like 1am, and he decided he would hold on and "protect" his daily high hand jackpot until he could collect it at midnight. It's the last hand before midnight, he and one other guy check all the way down to the end when there are 3 aces showing. The other guy bets and our jackpot hero calls and loses to 4 aces in the last hand of the day, that only reached the minimum pot requirement because of his call. It was mayhem.

Another night there was a local who kept falling asleep at the table. The dealer would shout his name and dude would jerk his head up and yell "check!"

Best Vegas hotel strategy is to get a deal on the strip for a couple of weeknights and then stay in downtown for the weekend.

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
gently caress I haven't been to vegas in a couple years. I've been up before (and somehow had a bad time), but I've also lost what I've won (thankfully not in the same trip). Bad place for bad people

I shall return

Elephanthead
Sep 11, 2008


Toilet Rascal

jjack229 posted:

That is an interesting line of argument.

Cows and chickens are one of the most prolific species on the planet because we purposely don't extinct them so we can murder and eat them forever. Viruses know what is up. You don't eat every human, only what you need. Sustainable human infecting. GWH.

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Fitzy Fitz
May 14, 2005




Suspicious Lump posted:

Has this been posted?
https://www.reddit.com/r/wallstreetbets/comments/a5a18z/it_has_been_a_pleasure_to_yolo_with_you_gentlemen/




Wowzer. The audacity to ask employers for a job (a second one mind you) after losing such a large amount.

Did he go all in on Roku...?

He must not own one, because I could have predicted this. (I'm aware it didn't tank because the boxes are janky. But they are.)

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