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Federal tax refund isn't in yet, so it looks like I'll have to dip into the emergency fund to pay off provincial, then re-fund that once the fed refund comes in. Once everything's settled I'm down just $35 (Federal refund - Provincial owed) but gently caress if it doesn't piss me off. And I have tuition due this month, so I'm probably going to float that on a credit card until the next paycheck. Handling cashflow like a poor, what up. 
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May 3, 2014 13:48
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Why did I buy a car? Whyyyyyyyy?
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May 3, 2014 17:42
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spinst posted:Why did I buy a car? Whyyyyyyyy?
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May 3, 2014 17:53
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spinst posted:Why did I buy a car? Whyyyyyyyy? Seriously. Took mine in for 90,000 mile recommended maintenance today and found out the front strut mounts are torn...480 to fix. Sigh. At least the guy didn't seem to think it was something I can't put off for a couple months, but gently caress. This car runs great but that's probably because I burn 1-1.5k a year on maintenance. Earlier this year it was a window regulator At least it's paid off. I'm going to drive it until something breaks that'll cost more than 3k to fix. gently caress having a car payment.
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May 3, 2014 18:01
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spinst posted:Why did I buy a car? Whyyyyyyyy? I bought a new car, and then devoured the entire Mr Money Mustache blog. 
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May 3, 2014 18:14
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spinst posted:Why did I buy a car? Whyyyyyyyy? Just picked up my new ride.. Mmmmmm new car smell.
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May 3, 2014 18:22
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spinst posted:Why did I buy a car? Whyyyyyyyy? BFC.txt
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May 3, 2014 18:33
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crimedog posted:I bought a new car, and then devoured the entire Mr Money Mustache blog. Me too, but I was 19 when I bought my new car. At the time I planned to just buy a new car every five years. But then a few years passed, I wised up a bit with money, and figured out I probably wouldn't buy a new car again ever, but wouldn't want to keep my current car beyond 10 years old. Now at 25 I still have the car and with only 90,000 KM on it. After reading Mr. Money Moustache, I am going to ride this thing into the ground. Hoping to have it 10-15 years. It's still in really good shape and pretty low mileage. I spent the day today undercoating the hell out of it with rust check (just the most recent of many coats). Canadian winters, particularly Atlantic Canadian winters, destroy our cars.
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May 4, 2014 02:47
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Rick Rickshaw posted:Me too, but I was 19 when I bought my new car. At the time I planned to just buy a new car every five years. So is the key to having a car just not driving it unless necessary and maintaining it well?
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May 4, 2014 03:20
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Ethanfr0me posted:So is the key to having a car just not driving it unless necessary and maintaining it well? I think the keys are: - Never buy new. - Buy the vehicle designed to do the thing you do most often. Buy a scooter if you want a commuter and never have bad weather, a truck is terrible if you only cart poo poo around once a year. - Buy for efficiency. Small, cheap tires, fuel efficiency, common cheap oem parts. - Acquire the skills to take over the most common value-added tasks for mechanics. Learn to do your own brakes (bleed, change, etc), suspension work, that stuff. Oil is usually a wash between going to a shop and doing it yourself. - Design your lifestyle so that the car is an absolute luxury. Most routine transportation should not require your car, if it does you need to fix your lifestyle. Understand that a car costs about $0.30/km of driving in maintenance and insurance. Balance that expense in your head every time you drive. Like, I just drove about 2000km for a vacation, so I know that I have to put about $600 into the car more than I would have and need to budget accordingly. That money may come all at once or in a thousand cuts, but over the years it will come.
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May 4, 2014 04:11
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I paid for my softball teams registration this year, because they wanted it in one check, and everyone on the team is just paying me back. I have a whole bunch of cash on hand right now from that, and I just got a bunch of money from my dad for my birthday, so I have about $1000 bucks in cash rolled up like a high roller I'm so miserly though that it just sits in my dresser not being spent on anything and waiting to be deposited into my savings account. Also, I'm 28 and I've never had a car payment in my life, and hope to never have one.
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May 4, 2014 05:27
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A few years back I walked into a CU in bumfuck nowhere, Quebec, with about $5k USD rolled up in a checked luggage sticker. Things got funny. (I'd been working overseas, they paid cash, it was roughly five months' worth) Deposit that poo poo ASAP, I had about $100 go missing from my suitcase on the last trip I was on and I'm still sore about it.
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May 4, 2014 05:34
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When I left the army, they gave me my final month's pay and several weeks of accrued vacation pay in cash. That was about $6000 in a fancy-pants cash envelope. My first stop out of the base was an ATM because gently caress carrying that poo poo around. I'm pretty sure that was the most money I've ever had in cash, though. It was pretty nerve wracking because I had no confidence that any more money was coming my way.
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May 4, 2014 07:11
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FrozenVent posted:A few years back I walked into a CU in bumfuck nowhere, Quebec, with about $5k USD rolled up in a checked luggage sticker. Things got funny. (I'd been working overseas, they paid cash, it was roughly five months' worth) It's stored in a secure place so I'm not worried. I'm still waiting on a couple people to pay me back so I can deposit it all at once.
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May 4, 2014 07:18
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Trying to decide what to do here. The only black hole in my finances is my car lease. I'm leasing a 2012 Honda Civic for $195/month and have a year left on the lease. I paid $2000 down, so over the course of 3 years I will have paid $9,000 (not including insurance or maintenance)  So my options now are: -Ride out the rest of the lease -Take whatever the dealer's offering to turn the car in early (I think the car has 2-3k worth of equity compared with the current market value) and get something used -Take whatever the dealer's offering to turn the car in early (I think the car has 2-3k worth of equity compared with the current market value) and get a cheaper leased car like a Smart Fortwo ($999 down and $99/month for 3 years = $4563 for a Smart Car over 3 years) -Buy the car outright after the lease is over (the buyout price is $10,000) What would you do, goons? I live in an area that gets snow, so the Smart Car probably isn't wise. But god drat is it cheap.
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May 4, 2014 16:56
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I'd do option 2 because gently caress leases. But smart cars are so awesome. 
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May 4, 2014 17:04
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Why not just buy the smart car used? In other news, have you guys seen the prices online dating sites charge these days?  My friends were pushing me toward those because the fee'd weed out the flakes but holy poo poo.I'm gonna go buy a bottle of scotch instead, seems like a better investment.
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May 4, 2014 17:35
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So for $12,400 you can keep the car you have and know you like (you do like it right?) And know has been treated well. Alternative is to get out of the lease and maybe get a little bit of cash and buy a used car for how much? If you are going to spend $8k on a used car from say 09-10 time frame that will have more miles and someone else's driving history and maintenance it might be with it to keep the car you are in now.
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May 4, 2014 17:53
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Do not buy a smart car, they are pretty crappy. A Toyota yaris, your civic, Honda fit, mazda 2 or ford Fiesta would be better cars than a smart unless your #1 priority is size/parking. They are a novelty at best
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May 4, 2014 21:08
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Plus parts for a Civic are all over the place; Smart cars are not nearly as common. I doubt you'd save that much on fuel either.
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May 4, 2014 21:17
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dreesemonkey posted:Do not buy a smart car, they are pretty crappy. Google smart car versus semi and thats why you don't buy a smart car.
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May 4, 2014 21:51
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cheese eats mouse posted:Google smart car versus semi and thats why you don't buy a smart car. You're right, that's why I drive an armoured vehicle everywhere I go.
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May 4, 2014 21:59
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I'd keep the Honduh. Get a loan to pay for the residual, or cashflow it.
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May 4, 2014 23:47
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I think I found a new option: http://www.scion.com/promotions/purelease/#model=iQ $3129 down - $1000 bonus cash - $750 college grad bonus = $1379 down $1379 down + $99/month for 36 months = $4945 for a 3-year lease And the iQ has good reviews compared to the Smart ForTwo.
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May 5, 2014 07:47
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EugeneJ posted:I think I found a new option: Eugene: "Hey guys, the only problem with my finances is this small econobox I've leased. What should I do? Should I lease this worse car?" BFC: "Smart cars are bad. It's not that big of a deal, you have a decent car that you know the history of, you've already taken the depreciation hit, you should probably just keep it." Eugene: "Hey guys, I've found the solution to my problem. Here's another small econobox that's worse than my Civic I could lease!!" What's wrong with the Civic? Why do you want to get rid of it so bad? You're only 1 year out from the end of the lease. Maybe it would be helpful to think of it like this: In a year, you'll have the option to buy a pretty decent 3 year old used car for $10,000 that you know the history of completely and that you've (presumably) maintained well. There is no cheaper car for TCO than a good ~$10k used car. You've already taken the major depreciation hit. Most major maintenance is still a long way off. Granted, the deal looks less good when you consider you've basically already paid an additional $9000 for it, but that's mostly sunk costs at this point. It has been said before, but sometimes the best move is not making a move. Why would you go lease another car and be in the exact same situation, except with 2 more years of guaranteed lease payments (and maybe a slightly better negotiated lease)? I feel like I must be missing something you've said here, because otherwise this makes no sense. Grumpwagon fucked around with this message at 12:11 on May 5, 2014 |
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May 5, 2014 12:01
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Also a new civic for ~20k total is not exactly a terrible deal. Assuming it's not the most basic of all models. If you got the midrange model that's right in line with MSRP.
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May 5, 2014 13:21
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You should keep it unless there are problems you know about. Agreeing with the poster above, the lease is pretty much a sunk cost IMO. If you don't like the car, then you have a question about preference, not just money. Do not buy a smart car if you live in the US. I would not want to be involved in an accident against an "average" US vehicle in something that small.
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May 5, 2014 14:56
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My savings are only $13,000 or so, and I only make about 25k/year, so parting with all of the money I have to payoff the Civic would be a big risk. I also have $27k in student loan debt that I'd like to pay down as soon as I have more money saved up. A lower monthly car payment would help me achieve that by letting me save more money that I can use towards the debt. Dumping $10k into a new car or financing the $10k with a loan isn't appealing to me. gently caress loans, basically. The Civic's fine, but realizing you could have paid off your student loan debt by now if you were just smarter with car selection is a harsh pill to swallow.
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May 5, 2014 18:39
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"gently caress loans" -Guy who keeps leasing cars that cost as much as his yearly salary
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May 5, 2014 18:58
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a worthy uhh posted:"gently caress loans" -Guy who keeps leasing cars that cost as much as his yearly salary ...and I'm trying to change that, thanks for caring!
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May 5, 2014 19:11
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Stop leasing cars. Buy a $1,000 beater. You do not make enough to keep leasing cars. Stop measuring things by "Can I afford the payment?" rather than "Can I afford it?". You cannot afford to spend several thousand dollars on a car lease, even though it's spread across multiple years. You don't even get the benefit of ownership, like you would at the end of a loan repayment term. This is your option: quote:-Take whatever the dealer's offering to turn the car in early (I think the car has 2-3k worth of equity compared with the current market value) and get something used Spend the least possible amount of money. Never lease again. lament.cfg fucked around with this message at 19:15 on May 5, 2014 |
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May 5, 2014 19:12
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A lease is pretty much a loan with all of the downsides and none of the benefits.
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May 5, 2014 19:17
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EugeneJ posted:
Hint: Leasing is worse than a car loan. Stop leasing. Buy a used car for like 2k and call it a day. I make a lot more money and have never paid more than $3500 for a car. My 4 car purchases over the last 17 years: 300, 300, 2200, 3500. Even with a few hundred in maintenance every couple of years it is a LOT cheaper than buying/leasing.
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May 5, 2014 19:21
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I have a $2000 car to sell you in Colorado. And stop leasing.
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May 5, 2014 19:27
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That is a very expensive car given your income. gently caress yeah tomorrow is budget day where I get to pay off more of my stupid credit card bill 
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May 5, 2014 19:28
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My parents have invested in a friend's pottery business in the Caribbean. Their loans have been returning 18% per year, and the friend wants to expand by converting a building to a second facility, but there's also some issue with a loan shark who charges 20% per month. The whole thing is time sensitive because of the loan shark. So they made me a proposal: If my wife and I lend 5k for five years, my parents guarantee the loan and we receive 18% annually, then the principal in 2019. It's like a bond. My parents will also be given a small plot of land in-country in return. This makes sense for the Caribbean friend because he'll be spending so much less on interest. I know my parents can repay the loan if it doesn't work out because they have quite a bit of property but can't easily lend the money themselves because they're cash poor. The 5k is a lot of money for us (about 80% of net monthly income), but not money that we were going to spend, just put toward our portfolio anyway. I kind of see it as an 18% guaranteed return instead of the volatility of the market. I don't really see much risk to the principal because I know my parents are good for it. The added bonus is use of this property for vacations. I'm sure that would be available anyway, but now we feel like we're helping out. Of course, nothing strictly legal will be drawn up and there's no insurance or any security beyond the word of my parents. I trust them completely. Is my risk assessment at all accurate here? The cost is a smaller portfolio and tax return this year, with the remote possibility that we never see the money again.
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May 5, 2014 19:56
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I'll post my budget later - I actually live quite modestly and in an area with low cost-of-living. Had beaters before, never want to go through the "Yeah, you need $2000 worth of work to pass inspection" talk again with a mechanic. Seemed like I was doing that every year at one point.
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May 5, 2014 20:05
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tuyop posted:My parents have invested in a friend's pottery business in the Caribbean. Their loans have been returning 18% per year, and the friend wants to expand by converting a building to a second facility, but there's also some issue with a loan shark who charges 20% per month. The whole thing is time sensitive because of the loan shark. So they made me a proposal: You want to pay off your parents' friend's loan shark in another country to the tune of $5k with the promise that you'll get 18% annually and your parents will eat the loss should the deal go sour. Re-read that sentence a few times and tell me if you'd tell someone else to do this. lament.cfg fucked around with this message at 20:14 on May 5, 2014 |
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May 5, 2014 20:11
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a worthy uhh posted:You want to pay off your parents' friend's loan shark in another country to the tune of $5k with the promise that you'll get 18% annually and your parents will eat the loss should the deal go sour. Yeah, I understand completely. But they can totally eat the loss, so what's the risk?
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May 5, 2014 20:15
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tuyop posted:Yeah, I understand completely. But they can totally eat the loss, so what's the risk? Making your 'cash poor' parents repay you $5k on a dodgy 'investment' they're trying to cajole you into.
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May 5, 2014 20:16
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