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This is a whole new way to be bad with money - be bad with OTHER peoples' money on a professional level! I have a (former) friend who works for one of those pyramid scheme financial companies that sells life insurance, retirement plans, investments, etc. Anyway, 14 days after he got his license to invest other peoples' money, he confronted my husband and I to invest my (recent, rather large) inheritance money through him. When we politely declined (a 26 year old with a degree in theater, and a minor in philosophy, who's so good with finances that he still lives with his mom, is not the one I'd prefer to trust my money to) he got mad and posted our entire financial situation to Facebook - including tagging my husband and I. I called his company to report him and I assume he's been either fired, license revoked, or at the very least had a very serious sit down reprimanding chat (it's probably the latter, I don't have high expectations for the shady company with the harassing tactics it teaches employees). Also, my very sweet and financially savvy but way-too-trusting mother in law who owns her own business has: 1. Cosigned a loan intended to cover her employee's credit card debt on his company card that he used at strip clubs, etc (....yeah) that he (!!) did not ever pay again after he got fired. 2. Gave a completely undocumented loan to a different employee because she needed to a) buy a new car to get to work because she totaled hers in a drunk/high driving accident, and b) needed to pay the court costs of said drunk/high driving incident. This admirable young lady not only was on average 17 minutes late to work every single morning for several months, but also turned out to be lying about her deceased mother for about 5 years, as they found out when they got a call from the mother warning them that she believed her daughter to have a drug addiction that could be influencing her job performance. Mother in law/boss gave her the option to resign instead of be fired, which she did. M-I-L gave her a months severance pay and additional cash because the lady claimed she was unable to pay for her baby's food. This employee is now pursuing unemployment, and also, oddly, is not interested in paying back that undocumented loan. Mother in law, you are the absolute sweetest lady in the world, but stop letting people walk all over you because it's the easier thing to do at the time! If an employee can't make it to work because she crashed her car with a cocktail of drugs in her system, maybe you should look at new employees! Edit: #2 lady is also on food stamps, and stands outside of grocery stores offering to buy people's groceries with them in exchange for cash. Damn Bananas fucked around with this message at 00:24 on Jun 22, 2013 |
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Jun 22, 2013 00:14
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Holy crap, the Mary Kay-offshoot doesn't get to be counted as a "job" if she's made less than $1000 in two years. That's less than $10 a week! Even with the worst hours possible in fast food, retail, etc you'll make a lot more than that. Is she still in school? Did she get the degree? Bad-with-money-story: I know someone who buys an ungodly amount of things from Ross. She keeps the tags on most of it so that she can return some later, and it's such a revolving door of buy/return that it's impossible to keep track of how much she has actually spent there. They are on the brink of losing their house, but her hobby is shopping and she can't stop. Her husband came to me moaning about their money problems, and I sympathized for a moment, until he mentioned he was going to stop by an electronics store on the way home because they were having a "good sale" on USB drives. He has tons, he doesn't need more. But but but, sale!
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Aug 15, 2013 18:55
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I just saw someone post this on another forum:quote:So I finally found a car and a bank that was willing to work with me! I bought a 2011 Kia Forte and I love it! All of the replies are along the lines of "Yay! How exciting!" With only two minor "Eep, that's a really high interest rate!" mentions, and zero mention of someone who makes 22k probably shouldn't be buying a new car when she had access to a free "crappy" one.
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Aug 20, 2013 15:51
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johnny sack posted:I can never understand the whole winning lottery/inheritance and then blowing it all immediately. This is my big fear, honestly. I didn't inherit millions, but still way more than any 24 year old deserves to have at that stage in life. I already "blew" a huge chunk of change to buy a house with cash (we were house-shopping before the unexpected death anyway), gifted the life insurance check to other family (I was the only legal heir), and when you still have more sitting in several accounts across random financial institutions that you can't keep track of, it's hard not to say, "Well, my car is getting pretty old and I've never owned one that wasn't 8+ years old..." or, "Gosh that's a really good deal on a hot tub..." (I did not give in to these things) Not to mention the family politics of turning down an immediate family member's pleading request for a loan when they've helped you out in the past. (I did give in to this one, but in the interest of sanity I'm considering it a gift and will simply consider it a happy resolution if it gets paid back, because shortly after that they were laid off. Murphy's law, man.) I've been reading BFC for a long time so I know the "correct" things to do with the money, or at least have seen the warning stories of what NOT to do, but when it's actually in hand it's hard to shoo away the thoughts. And there are a lot of thoughts.
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Sep 27, 2013 16:46
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No Wave posted:Consolidate the money into one account, ideally linked to mint (you can do this with Vanguard). You need to see those actual numbers staring you in the face, all the time, or else you won't be able to understand the impact of your expenditures. Hah, I got my poo poo together on Mint a couple months ago, so they are staring me in the face.  There haven't been many expenditures, mostly I just lumped together the sale of the deceased's person's house with smaller liquid accounts and used that to buy the house I mentioned in my post, with the remainder in an easy-access emergency fund. The biggest accounts, inherited IRAs/401k, haven't been touched yet. I probably should combine them, but I need to research the "right" way to do that to minimize whatever kinds of fees or tax consequences I'd be facing, first.
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Sep 27, 2013 17:40
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No Wave posted:Taxes are low right now. I mean how much are you getting paid per hour that getting your inherited financials straightened isn't your best $/hour expenditure of time right now? quote:Call Vanguard, they've done this sort of thing an awful lot. I've done something similar this year.
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Sep 27, 2013 19:26
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johnny sack posted:When I opened my IRA with Vanguard, I called them up because I had a few questions. It was very easy to talk to an actual person (American, not a foreigner overseas) who was able to answer my questions. What I'm saying is, call them up. It probably won't take more than twenty minutes. Opening the account might take a bit longer, but at least calling them won't. No Wave posted:Sure - but no matter what, you're going to have to deal with it some day and a.) taxes are low now, and b.) even if you want to move slowly, you can minimize taxes by doing the withdrawals over a long period of time (in which case, better to get started early!). Getting it all together will also allow you to have more control over the distribution of your investments, which theoretically should increase the expected value of your return. Thanks goons, after an hour long phone call with Vanguard I've learned that I'm not subject to any new/different taxes as long as I do a direct inherited IRA to inherited IRA transfer, which I now have the forms to create a fresh one. I guess I thought that the only way to create an inherited IRA was to have a regular IRA with that institution and then die. Not so, apparently. If I have further questions I'll take it to the retirement thread, since I don't think I'm on par with the rest of the "bad with money" thread examples. At least I hope not. Edit: Clarify, it didn't take me an hour to learn the taxes thing, the guy was just a friggen pro about everything IRA and answered every tiny question I had about how it all works. Much better than the canned "You should consult a tax professional" I got from Ameriprise. vvv Pretty sure I followed her thread when it was active (can't find it now) but the thread didn't have much discussion that crossed over into my situation much. Damn Bananas fucked around with this message at 22:14 on Sep 27, 2013 |
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Sep 27, 2013 21:59
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At another forum I frequent there's this one crazy girl planning to get married who has just bought her 5th wedding dress. She "outgrew" (got fatter) her first dress and then just disliked dresses #2, 3, and 4 I guess. Another poster called her out on a thread she posted last week where she admits to: - not having any job at all in the last 2 years - dropping out of 3 different schools: Cosmetology ("halfway through it I discovered it wasnt what I was expecting"), wedding planning ("after learning what would all be involved i dropped out"), and medical assistant ("after graduation my school lost its accreditation") - living with her mom and grandma, and discovered her grandma's safe and "kinda found the key and been taking money out ... also been taking out of her purse too. i know thats really bad but other then asking my mom for some of her unemployment money, that was kind of my last resort option. ... I will mention, i have not been the only one doing it. my mom also did it to pay her bills as well." When she was called out to maybe not buy 5 different $1000+ articles of clothing, the girl flipped out that everyone "ganged up on her", and weren't gushing over how pretty wedding dress #5 was. I'm just so 
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Oct 17, 2013 05:49
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I'm surprised to read all these responses about termination because of discussing salary being unethical/illegal. At my last job my supervisor, during training, said "I can't think of a faster way to get fired than to put [CEO]'s signature graphic on a report without him signing off on it first. ... Wait, yes I can: Discussing salary." I mean, I had access to each employee's billable rate to the customers, so it wasn't really hard to extrapolate. But still. I kept mum because I took that poo poo seriously.
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Jan 23, 2014 00:29
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I've lived in my house for 7 months and I still get a poo poo ton of mail from the previous owners including all of their tax stuff. I've written "not at this address, return to sender" on so much mail that my mailman had started to passive-aggressively circle "or current resident" on my junk mail. (I only wrote RTS if it looked important - medical bills, student loan companies) I'm tempted to contact their old realtor to pass on the message to fill out change of address forms. It's seriously a LOT of mail and our mailbox is too tiny to fit all the catalogs.
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Feb 8, 2014 10:13
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I got my first junkmail waterfall when I applied to colleges (all 2 of them) and it hasn't stopped since!
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Feb 8, 2014 19:26
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On another forum:quote:My husband & I recently thought about buying a house/condo since we are going to start trying for a baby in the fall of 2014 (to have the baby in the summer of 2015). We applied for a loan through our bank and discovered that we can only use my credit. (Apparently his credit is bad because of his parents putting stuff in his name when he was 18-20 b/c he didn't know any better & they have bad credit. Its about $3,000 in debt. I am against paying it off because he didn't do it so why should we have to pay for their mistakes? The charges will fall off ("the 7 year rule" I am heard about) in the fall of 2015.)  She goes on to compare two houses she likes and says "I am not sure about the school district but from the looks of the kids getting off the bus, it was not good." I can't figure out what she could possibly mean other than "I saw black kids". Oh and also the two houses are wood paneling/70s carpet in a good school district vs updated cabinets but "bad" school district. It sounds like the appearance of the walls is equally important to the education of her child(ren). Damn Bananas fucked around with this message at 15:17 on Feb 16, 2014 |
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Feb 16, 2014 15:01
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razz posted:If you have debt that goes into collections and you ignore the collection notices and do not contact them in any way or admit that the debt is yours, and if you don't give a gently caress about your credit score, and if no one ever really comes after you for the money (so, no one tries to sue you) the debt will in fact "go away" eventually. But you will have a ruined credit score to show for it. Ah, it didn't occur to me to think of it that way. I have heard about creditors basically giving up (prolly from BFC somewhere) but I thought she had heard about the 7-year credit-score-reporting thing and gotten confused that it meant all debt simply has an expiration date as a matter of industry standard. That would be nice, wouldn't it? I still maintain that she is bad with money because of her assumption that raising a baby requires home ownership despite only qualifying for peanuts right now while her husband's credit score is in the shitter, instead of just waiting a couple years to save up and let the score recover and get an acceptable house in a decent neighborhood. 
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Feb 17, 2014 03:22
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kissekatt posted:My understanding from reading the debt collector thread is that this is basically true. If the debt cannot be legally be collected or reported it basically ceases exist. Not all debt - student loans, mortgages, active credit cards you've made minimum payments on, right? If it's such a certainty why do we all push BFC thread-starters to work out payment plans for their debt? Credit score is a fine reason, but if you're happy where you live/what you drive, 7 years isn't such a bad tradeoff for being in the clear without having to put effort into anything.
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Feb 17, 2014 04:56
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kissekatt posted:Mortgages are secured loans, and like all secured loans the security will be at risk (I have no idea how it works in states where you basically can't be evicted). You're right about student loans though, and I believe that it's 7 years since the last payment. I am American but I've never had non-student debt so I'm just kinda learning via what I read in BFC. The debt collector thread never interested me before, but now I might add it to my reading list. It all seems very strange to me, but maybe after more booklearnin it'll make sense/seem more fair.
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Feb 17, 2014 05:31
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Tony Montana posted:7 years is a long time. The restrictions put on you as a bankrupt are huge. 7 years is long enough (plenty long enough) for you to drop out of your career and never be able to get back in. 7 years is long enough to skill up in a completely different profession and get into it, rather than trying to reset the counter and then where are you? Well I wasn't talking about bankruptcy, I know that can gently caress things up, I was talking about the 7 years after you did Dumb Credit Thing and are waiting for it to fall off the report, because I thought that's what we were talking about in the first place. I'm kinda tired of talking around this tangent, so if anyone quotes me please carry on without me. I'll probably be back later with more stories. My other internet hangouts are full of generally dumb people to post about.
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Feb 17, 2014 14:25
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Not all crooked teeth qualify for Invisalign. My husband asked and they said it wouldn't work for his teeth (one section is pretty wonky and overlapped). Traditional braces or nothing - sucks because he had braces as a teen but never wore the retainers so they shifted right back.
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Apr 6, 2014 18:12
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There are a thousand different ways for people to interpret "life changing", guys. $10k could take you on a trip to another continent and change your world view, it could let you take a pilgrimage to your holy land, it can buy you your first reliable car and knock out a huge source of stress in your life, or it could buy you a couple semesters of community college credit to learn yourself some new skills and hop over a career hump.
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Apr 14, 2014 21:19
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poo poo, and I remember being mad at my husband for wanting to sign us up for LA Fitness - $30/mo per person (I think $90 sign up fee + $60/mo in total). I preferred the city rec center because it's $110 per year for the pair of us, but LAF is right behind our house so we actually get off our asses and go to it. I guess that makes it worth it but I just generally hate adding a monthly expense to the budget. I didn't realize how much some people spend, though. $500 is wow.
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Apr 16, 2014 05:31
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Just saw someone ask for advice on building non-existent credit on another forum. First reply suggested taking out a mortgage. For the purpose of building credit. The people on this forum are generally younger (~20) but drat I hope they grow some more sense before they get in a position to make big life decisions like that.
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Sep 2, 2014 17:42
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I guess when he heard "buy low, sell high" he assumed a toilet-stock was the perfect idea 
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Feb 8, 2015 21:12
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A Facebook friend/extended family person just posted a gofundme saying he wants to take his girlfriend to Europe because she's never been out of America and he told her to pick a place and he'd take her. The only problem is they're broke college students, so please gift them thousands of dollars for this trip, every penny helps thanks!!!!
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Mar 22, 2015 19:52
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Good with your own money I guess, not so much others'. But the mindset of "I want a thing. I deserve the thing! I'LL GET THE THING!" could lead to him being posted about more in this thread in the future.
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Mar 22, 2015 20:21
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OneWhoKnows posted:It Came From Reddit:  God, reading this one makes me so sad. It's one thing to blow more money than you had to on dumb interest payments, impulse toys you don't even really want, and chalk it up as an expensive lesson but you'll get over it eventually and live an average to okay life. But this poor woman, 66 years old, has lost her entire retirement and her house she's owned outright for decades.Even though my grandma doesn't have a computer and doesn't answer the phone from numbers she doesn't recognize, I feel like I should still give her a call and have a chat about these just in case.
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Apr 10, 2015 14:48
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http://distractify.com/beth-buczynski/smart-things-to-do-at-30/?ts_pid=2 (lovely clickbait listicle, sorry) "Buy a house, it'll be nearly paid for by the time you're 50" It's very simple! Regardless of your market/situation, just buy it, and everything will work itself out! 
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Apr 20, 2015 14:32
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Leopold Stotch posted:So it burned down, fell over, then sank into the swamp? [2 pages later] I acknowledge and appreciate this joke! BWM story: I went on a cruise vacation with my husband last weekend and our onboard ship account ended up totalling nearly $800. That included 2 people to go on excursions at 3 ports, but still. So much alcohol was purchased and we didn't even finish the liquor we snuck on in shampoo bottles.
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May 19, 2015 02:19
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enraged_camel posted:The shampoo bottle trick is cool though, I'll have to remember that when I go on a cruise. Yeah, I just used those airline-approved pack of five 3.5oz bottles you can get in the toiletry aisle of the grocery store, but they have specific products for that purpose which I find hilarious.
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May 19, 2015 03:31
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Before I worked for my company they had a guy who used his company card to tip like $100+ on $50 dinners, go to strip clubs on it, bullshit like that. Eventually the boss found out/paid attention and he agreed to take out a personal loan for like $7000 to pay it back. The boss cosigned the loan and when it was found out that the guy was running his own little business under our company's nose doing the exact same thing as ours* and stealing several customers/vendors/jobs while two-timing, he was obviously fired. He stopped paying that personal loan and guess who is on the hook for it after that! *His website's "about us" was even identical to ours but he find-and-replaced "Company A" name references with "Company B". It was so stupid. I wasn't there for this, and don't have a 100% understanding on it so this might not make total sense but this was the gist of it that I got.
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Jun 6, 2015 02:26
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I'd rather raise 2 kids in a great house with a big yard than 3 kids in a mediocre house that doesn't quite fit all our needs but "it'll do". But I'm one of those shmucks who daydreams about dream houses and stuff. I live on Pinterest and constantly make remodeling/decorating plans for my home (possibly nesting but without the pregnancy??).
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Jun 25, 2015 21:37
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Antifreeze Head posted:That guy says he has a degree is business. He should probably go ahead and give it back. Assuming it isn't from a degree mill anyway, I could totally see someone like that buying into getting their bachelor's in an afternoon for $499. I felt bad for the gullible guy until he said he had a degree in Marketing. Maybe I don't know what actually goes into obtaining that kind of degree, but if anyone should see though that bullshit shouldn't it be you??? ('you' reddit poster, not 'you' goon I am quoting)
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Jun 29, 2015 20:01
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edit: read wrong, and I didn't even have a solid point. Ignore me.
Damn Bananas fucked around with this message at 21:21 on Jun 29, 2015 |
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Jun 29, 2015 21:18
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Aquatic Giraffe posted:What does a teenager need a checkbook for anyway? If I had to buy anything in high school we were required to pay with check because I guess cash was so easily stolen. Yearbooks, letter jackets, fundraiser purchases, things like that. I remember bringing my checkbook for the first time and just staring at Check # 0001 blankly. I eventually figured it out and didn't give my friends a thousand dollars each, but I can kind of see where the ????what is this how do I do this what???? comes from when you're 15 and dumb.
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Jul 7, 2015 20:05
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Was it legally valid, though? If it were it would have dinged the junkmail company's account for $95k, which is not really any skin off the bank's nose, they just move money from account A to account B when asked (via endorsed check). It would have been on the junk company to chase him down for getting all of it back, but it was the bank who was obsessively going after him for it. Maybe I'm misunderstanding the situation though.
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Jul 8, 2015 22:10
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Dang, 3% that's amazing. I just checked mine (Chase) and it's 0.02%. Even if I opened a 10-year CD with 250k in it I'd only get 1.05%. poo poo, Chase sucks. Speaking about BWM, that reminds me I should probably drain everything non-emergency fund / checking account buffer and invest it somewhere. Do BFC people generally prefer Vanguard for that, or is that mostly just for the recommended IRA stuff?
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Jul 13, 2015 15:42
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My husband and I will be in the same position whenever his parents pass, and it's RCI too. Apparently it's in the will that he gets the timeshare, and we're not dreading it at all (well, other than the whole death part). It's a beautiful resort in Cayman, I could easily see myself staying there once a year indefinitely, especially now that we live right next to an airport that has nonstop flights there. And since they've been timeshare owners for so many years they constantly get free weeks or other benefits. It seems pretty cool, but I'm getting all of this second hand from someone who has drank the koolaid. It's possible there are fees or other negatives involved that will make me say no way when it comes down to it. But until then I will daydream!
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Jul 22, 2015 21:51
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Today I learned that my husband is bad with money, or at least absent minded to the point of financial loss. Backstory: Decades ago, my aunt was abused by her husband. She was unable to escape for years because she had no access to any money. When I became an adult she made me promise to always have an account somewhere with emergency money that only I can access. I thought it sounded like a reasonable thing to have, even just acting as a secondary emergency fund, so I made one for me and suggested my then-fiance have one as well. Everything was going great until today I was trying to track down some monthly expenses for my budget spreadsheet and asked him to log into his personal account, maybe they had been pulling from there by mistake. He logged on only to discover that our bank has been pulling $20 fees from his emergency account every month for the past 11 months. He had no idea. Not once in the past year had he ever logged into our banking website. Ever. Not once!! So now we are out $220 for no reason. I have no idea if I'll be able to talk them into getting that back. The fees are for not having enough money across all our "linked" accounts - we have plenty among all of our accounts in total, but somehow they became unlinked last year. I have no idea why and this always seems to happen when we make any sort of change to an account... ugh. Chase blows. I've wanted to use a Credit Union for a while now, but everything was so convenient and familiar, I didn't want to upheave it for a few bucks of interest. Starting to ponder now...
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Jul 23, 2015 20:14
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Mint has been having trouble with accessing 3 out of my 9 accounts tied to it. It's always emailing me telling me it can't access them, so I log in to update the password info and it still freaks out that it can't log into them. I'm not sure what the problem is, but I've stopped using Mint for very much other than the occasional "I wonder what the pie chart of expenses looks like this month!" because of it. On the bright side, I shouldn't have said "we" lost $220. That's his my-wife-is-a-crazy-bitch-run-awayyyyy account, not mine. So.  vvvv exactly Damn Bananas fucked around with this message at 21:01 on Jul 23, 2015 |
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Jul 23, 2015 20:37
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I had no idea people actually bought poo poo through those games - I've hesitated over $0.99 for the no-ads versions! 6 figures in 3 months, hoooly crap. Wowzers.
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Jul 30, 2015 15:42
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I've been invited to a couple Jamberry party things, but they were completely virtual. They were just Facebook events, and the "host" would post a pic of an outfit and say WHICH WRAP WOULD YOU PAIR WITH THIS LOOK? I bought 1 set for $15 and they told me I don't need the starter set - just a space heater or blow dryer. I still haven't tried them yet but they seem cute. My friend was only hosting a party because it helped her MLM-addict friend out (referral), and she didn't do any more after that one. Recently I've been invited to a home wine tasting MLM party by a different friend. I've never been so happy to say "Sorry, I don't like wine."
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Jul 30, 2015 23:27
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There was a good one a few days ago where the guy was like "My parents bought me a car, but I can't afford the payments and I don't even like the car!". They surprised him with a car that they'd pay the payments on for a year and then it was up to him to figure out the rest. Good for him for recognizing ahead of time that it was a doomed situation instead of waiting for month 12.
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Aug 4, 2015 19:35
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