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Not a Children posted:In the land of the indebted the broke man is king Wanna put this on my business cards.
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Jul 13, 2016 20:14
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I'd say the hard cutoff latest point is part of planning cohabitating. You should at a minimum discuss planned financial contributions to the household as well as expectations about financial ability going forward. I think any time around potential STI exposure is appropriate on the early end. If you can talk about herpes and birth control you should also be able to talk about paychecks and outstanding debts. My fiancee knew exactly how much I was making pretty early on because I got unemployed pretty early on.  Like 3 weeks in.
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Jul 13, 2016 20:18
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Sepherothic posted:People underestimate how attractive it is to be in your late-20's early-30's and have your poo poo together. You know, all together in a little pile with a sign sticking in it that says "I don't have any baggage". Putting it out there is just saying you're free to go have fun and contribute equally to a relationship. Yeah, seriously. Obviously not in the "oh yeah your control of your finances gets me horny" kind of way, but in the "you've got your poo poo together and that's attractive as a partner" kind of way. Beyond the romance you still need to live with and build a life with your partner, and someone that is a dumpster fire of baggage and debt is decidedly not attractive. I'm surprised by all these people saying they don't (or only barely) talk about money, what their income is, how much debt they have, what their goals are, etc. even in long-term relationships. Like yeah granted that is not first date material, but it's a pretty big factor in lifestyle compatibility. I wouldn't choose a partner based solely on their finances, but dating someone and finding out they are in 300k+ of debt without being a doctor or whatever with a serious and realistic plan for handling it would give me serious pause. That's a huge lifestyle impact that will affect both of you for a long time to come. After all, money is the largest factor in a majority of divorces. We as a society need to be a lot less weird about discussing money openly and honestly. Even among my closer friends we are fairly open about our finances because we can learn from each other. Guinness fucked around with this message at 20:36 on Jul 13, 2016 |
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Jul 13, 2016 20:29
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A lot of people keep their head in the sand like the 320k student loan guy.
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Jul 13, 2016 20:32
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IllegallySober posted:I'm probably just more open than most but it comes up naturally within a few weeks of me seriously seeing someone. That also may be because right now I'm not making 100K a year though
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Jul 13, 2016 20:34
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Nearly Two-Thirds of Americans Can’t Pass a Basic Test of Financial Literacy http://time.com/4403643/american-financial-literacy-test-fail/
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Jul 13, 2016 21:36
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Moneyball posted:Nearly Two-Thirds of Americans Can’t Pass a Basic Test of Financial Literacy The bond question is honestly a bit confusing. Interest rates rising means *new* bonds will offer higher yields, but *existing* bond prices will fall.
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Jul 13, 2016 21:41
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Moneyball posted:Nearly Two-Thirds of Americans Can’t Pass a Basic Test of Financial Literacy I don't know why they don't teach financial basics in high school. Everyone should at least know what a stock, bond, and mutual fund are. It's not like it's hard or complicated or anything.
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Jul 13, 2016 21:42
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Solice Kirsk posted:I don't know why they don't teach financial basics in high school. Everyone should at least know what a stock, bond, and mutual fund are. It's not like it's hard or complicated or anything. Economics class should cover this, along with how to do your taxes and explaining what marginal tax rates are.
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Jul 13, 2016 21:44
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Solice Kirsk posted:I don't know why they don't teach financial basics in high school. Everyone should at least know what a stock, bond, and mutual fund are. It's not like it's hard or complicated or anything. Many schools do, kids just don't care. There's data that backs it up too - financial education at the secondary school level just isn't that useful as nobody can "feel" the importance of the issue yet. WampaLord posted:Economics class should cover this, along with how to do your taxes and explaining what marginal tax rates are. Completely agreed on the last part, but conflating personal finance with economics has issues of its own.
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Jul 13, 2016 21:47
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Sepherothic posted:People underestimate how attractive it is to be in your late-20's early-30's and have your poo poo together. You know, all together in a little pile with a sign sticking in it that says "I don't have any baggage". Putting it out there is just saying you're free to go have fun and contribute equally to a relationship. What a sick and weird society we live in where a passable metaphor for being in debt is "having a noose around your neck" yet people are expected to borrow hundreds of thousands of non-dischargeable debt from hell to have any kind of professional career
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Jul 13, 2016 22:09
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BEHOLD: MY CAPE posted:What a sick and weird society we live in where a passable metaphor for being in debt is "having a noose around your neck" yet people are expected to borrow hundreds of thousands of non-dischargeable debt from hell to have any kind of professional career That's the symbolic value of the necktie as a staple of professional attire.
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Jul 13, 2016 22:19
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BEHOLD: MY CAPE posted:What a sick and weird society we live in where a passable metaphor for being in debt is "having a noose around your neck" yet people are expected to borrow hundreds of thousands of non-dischargeable debt from hell to have any kind of professional career People who borrow hundreds of thousands of dollars of non-dischargable debt are extreme outliers
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Jul 13, 2016 23:23
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Solice Kirsk posted:I don't know why they don't teach financial basics in high school. Everyone should at least know what a stock, bond, and mutual fund are. It's not like it's hard or complicated or anything. We hired someone at the brokerage firm I work at that didn't know what a stock was. The group doesn't handle trades, so it's not really necessary to be a licensed expert. But, nope...no clue what the positions tab on our internal system was at all. He also couldn't tell the difference between whether a person had more than one account, or had one account with more than one person. When our financial consultants and advisor services reps got him on the phone, they practically ate him alive. I wasn't his manager, but he also asked me how to disclose his TWO bankruptcies in the past 10 years and how to set up his 401K online. It was recommending him putting 25% of his salary into a 401k. Since he didn't have one. At 50. Oh, and when he asked me how to do that, I found out this incompetent asswipe who would respond to any requests for clarification by saying "I DON'T KNOW WHAT YOU'RE TALKING ABOUT!" made 4K more a year than me! I have no idea what management was thinking when they hired him. He made it 6 months before basically cussing out a client, going ballistic on the floor, and being given the option to "quit" or get fired. They replaced him with a woman who used to work at the DMV. She knows what a stock is.
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Jul 14, 2016 00:02
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blackmet posted:I have no idea what management was thinking when they hired him. He made it 6 months before basically cussing out a client, going ballistic on the floor, and being given the option to "quit" or get fired. Why did they replace him? He sounds like the ideal manager.
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Jul 14, 2016 00:19
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Series DD Funding posted:People who borrow hundreds of thousands of dollars of non-dischargable debt are extreme outliers And no one is expected to borrow that much either.
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Jul 14, 2016 00:23
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Dwight Eisenhower posted:If you can talk about herpes and birth control you should also be able to talk about paychecks and outstanding debts.  if you think that most people talk about this either.Solice Kirsk posted:I don't know why they don't teach financial basics in high school. Everyone should at least know what a stock, bond, and mutual fund are. It's not like it's hard or complicated or anything. We both had a mandatory "consumer education" class that covered this and learned about the power/horror of compound interest in math class. The majority of people, just like with every other subject, learned enough to pass the test and then promptly forgot everything.
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Jul 14, 2016 01:02
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Dr. Eldarion posted:
I like to imagine that these conversations are held the same way Sweaty, naked, mere moments from the deed "Are you clean? Do you get tested?" "Yeah baby of course" "Are you.... Oh man, that feels amazing... Are you on birth control? And IBR? Do you make your minimums?"
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Jul 14, 2016 01:53
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BEHOLD: MY CAPE posted:What a sick and weird society we live in where a passable metaphor for being in debt is "having a noose around your neck" yet people are expected to borrow hundreds of thousands of non-dischargeable debt from hell to have any kind of professional career I assume you're projecting here since that's completely out of the ordinary. Tell us about your BWM life please.
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Jul 14, 2016 03:32
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Krispy Kareem posted:I only found out about the car loan my wife co-signed for an ex-boyfriend after we got married. This is why I read this thread.
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Jul 14, 2016 04:24
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Zo posted:I assume you're projecting here since that's completely out of the ordinary. Tell us about your BWM life please. He's a doctor. It's not out of the ordinary for doctors or letters to have 6 figure debt.
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Jul 14, 2016 09:37
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Series DD Funding posted:People who borrow hundreds of thousands of dollars of non-dischargable debt are extreme outliers every single person going to law school now is having to do this, it isn't an outlier at all. Like sure you can argue that it's a terrible decision (it is) but it doesn't change the fact that an entire profession demands this. Same with med & pharmacy school afaik. Hell, I bet a lot of state schools for undergrad require it, as cost of livings in college towns have gone up a lot and simply paying for 4 years of rent isn't cheap, let alone everything else. edit quote:Even as employment prospects have dimmed, however, law school student debt has ballooned, rising from about $95,000 among borrowers at the average school in 2010 to about $112,000 in 2014, according to Mr. McEntee’s group. mastershakeman fucked around with this message at 13:22 on Jul 14, 2016 |
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Jul 14, 2016 13:20
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mastershakeman posted:every single person going to law school now is having to do this not every person  (five years ago, anyway) VVVVV good point
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Jul 14, 2016 13:27
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Doctors and lawyers ARE "extreme outliers" when the data set is "any kind of professional career."
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Jul 14, 2016 13:27
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Nail Rat posted:Doctors and lawyers ARE "extreme outliers" when the data set is "any kind of professional career." I chose to parse it as debt for a career requiring a professional career. Wheee
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Jul 14, 2016 13:32
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mastershakeman posted:every single person going to law school now is having to do this, it isn't an outlier at all. Like sure you can argue that it's a terrible decision (it is) but it doesn't change the fact that an entire profession demands this. Same with med & pharmacy school afaik. Hell, I bet a lot of state schools for undergrad require it, as cost of livings in college towns have gone up a lot and simply paying for 4 years of rent isn't cheap, let alone everything else. You can't talk about our college system as a whole and use law degrees as examples. It's like saying viruses can make you sick and then using Ebola to prove your point. Law schools are a weird outlier in that tuition can cost as much as medical school, but there's fewer jobs and the quality of education varies widely. At least with medical school it's easier to weed out bad schools, the drop-out rates are less, and there are actual jobs paying good money once you graduate.
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Jul 14, 2016 13:39
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mastershakeman posted:every single person going to law school now is having to do this, it isn't an outlier at all. Like sure you can argue that it's a terrible decision (it is) but it doesn't change the fact that an entire profession demands this. Same with med & pharmacy school afaik. Hell, I bet a lot of state schools for undergrad require it, as cost of livings in college towns have gone up a lot and simply paying for 4 years of rent isn't cheap, let alone everything else. If the average is $110k, "hundreds of thousands" is still an outlier even for your tiny subset of postgrad students.
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Jul 14, 2016 13:46
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mastershakeman posted:a career requiring a professional career. Wheee I think my brain just broke. If you mean professional degree, I think that's a strange way to parse it as many other careers are considered "professional careers," but YMMV.
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Jul 14, 2016 13:47
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I think traditionally doctors and lawyers are the "professions." But that could Judy be my own cultural bias.
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Jul 14, 2016 13:51
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Nail Rat posted:I think my brain just broke. i did, and i've been up with a baby for 3 hours now so sorry :I
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Jul 14, 2016 13:53
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Hot Dog Day #91 posted:I think traditionally doctors and lawyers are the "professions." But that could Judy be my own cultural bias. There's also pharmacists, dentists, and vets!
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Jul 14, 2016 13:54
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All these kids today spendin' 150 thousand to get a degree in underwater feminist studies really grinds my gears if ya know what I mean.
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Jul 14, 2016 14:01
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Dr. Eldarion posted:We both had a mandatory "consumer education" class that covered this and learned about the power/horror of compound interest in math class. The majority of people, just like with every other subject, learned enough to pass the test and then promptly forgot everything. I'm not saying that we shouldn't teach students finance basics. We definitely should. But it's equally important that they start learning these things at home before they start learning about it in school. Because in my experience, the kids who get the most out of these courses are the ones who've already had these kinds of conversations with their parents. Otherwise, "Household Finance" just becomes another boring course that they're all too ready to forget once it's done, especially since most parents avoid that money conversation with their kids as if it's some sort of weird social taboo. BEHOLD: MY CAPE posted:What a sick and weird society we live in where a passable metaphor for being in debt is "having a noose around your neck" yet people are expected to borrow hundreds of thousands of non-dischargeable debt from hell to have any kind of professional career Because somehow it's a better idea to be in a -$150,000 debt pit for prestige than it is to graduate from "community college  ".
melon cat fucked around with this message at 19:11 on Jul 14, 2016 |
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Jul 14, 2016 14:07
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I have a degree from a middling state school for engineering for ~$21k from 2006-2011. I lived at home while commuting and worked nights and weekends. I now earn several times what I paid for my education and I don't feel that I missed out on anything my friends paid six figures for.
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Jul 14, 2016 16:14
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Apprentice Dick posted:I have a degree from a middling state school for engineering for ~$21k from 2006-2011. I lived at home while commuting and worked nights and weekends. I now earn several times what I paid for my education and I don't feel that I missed out on anything my friends paid six figures for. This is the smart way to do things, but I feel is the beginning to a derail of GWM humble brag circlejerk. Not that you're particularly humble bragging here. Post your wedding plans, though.
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Jul 14, 2016 16:23
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Moneyball posted:This is the smart way to do things, but I feel is the beginning to a derail of GWM humble brag circlejerk. Not that you're particularly humble bragging here. My last girlfriend wanted a courthouse marriage and a big party after, too bad she was clinically crazy. BWM GWL scenario to dump her.
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Jul 14, 2016 16:51
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Apprentice Dick posted:I have a degree from a middling state school for engineering for ~$21k from 2006-2011. I lived at home while commuting and worked nights and weekends. I now earn several times what I paid for my education and I don't feel that I missed out on anything my friends paid six figures for. You lived at home with your parents like a small child while they were partying, having sex with models, and doing drugs. Great work.
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Jul 14, 2016 17:28
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mastershakeman posted:You lived at home with your parents like a small child while they were partying, having sex with models, and doing drugs. Great work. You sure know a lot about this guy's parents
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Jul 14, 2016 17:35
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I worked full time and went to night school for 7 years to earn my undergraduate degree and built a ton of character while leaving school largely debt free. Before this sounds like a humblebrag, I really wish I had borrowed $30k so I actually enjoyed school. My grades were mediocre because I was working two jobs most of that time and I left school with zero professional contacts since no one networks in night school. Plus, I had very little sex in college - which is just sad. But no college debt! At least until graduate school. 
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Jul 14, 2016 18:04
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Welp, I just had a really awkward BWM and Bad with Life moment with my roommate. He was madly in love with this girl who wanted to just be friends. They eventually got drunk and had sex. She left to volunteer in Mexico for a year and he asked her for the phone number she would be using down there, because she couldn't take her cell phone. She declined to give it to him. 5 months have passed and he has commented and liked random statuses on Facebook and sometimes she responds, but it seems pretty clear that she isn't interested. It was her birthday last week and I just figured out that he had to delay paying the utilities until his next check because this girl had tagged her location and address on Facebook and my roommate had mailed her a $230 bottle of Japanese whiskey that she mentioned she wanted to try 7 months ago as a birthday surprise. He still does not have her phone number.
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Jul 14, 2016 18:19
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