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I've got a cousin who is terrible with money. To give you some background, he has probably the most severe case of ADD you could imagine. He's probably tried every medication on the market, they help but they don't really control the problem. He has poor judgment and impulse control, and practices exactly zero moderation when it comes to food, drinking, and spending. He's been dropping in and out of school (private, then community, and now a state school) for the past 5 years due to his inability to stick to his studies. During that time he has: -Had multiple pregnancy scares with his unmedicated bipolar girlfriend (they broke up, thank god) -Had his shady friends install used brake pads on his (well, actually his parent's) car to replace failing ones. After those parts didn't work, his parents ended up footing the bill for a new set. -Gotten fired from his job at a restaurant for being absent from work 3 times. In a month and a half. -Called me at about 11:30 at night asking me to drive to where he was to lend him some gas money. He had driven to a house party about 60 miles from where he lived on a near-empty tank, with no plan for getting back. -Begged and borrowed money, booze, food and transportation off of literally everyone he knows who will let him. Never pays anyone back. -Gotten involved with Cutco, despite multiple warnings from friends and family that it was a scam. Now that you have an idea of his character, I guess have a couple stories. Right now, he works part-time at a ski shop. Since Spring is coming up, they're due to close at the end of the season. His plan is to pour all the money he made this winter into a new snowboard and longboarding gear. He has no other job lined up for when the shop closes. Well, I guess that's a half-truth. I heard through the grapevine that he's driving around a small-time pot dealer around his old college campus, helping him sell. He's being paid in weed. He still lives with his parents at 24. My poor aunt and uncle have poured tens of thousands of dollars into his wasted education and useless hobbies, with no end in reasonable sight. Not looking forward to the night he gets busted.
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Mar 4, 2014 16:04
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Nocheez posted:Please tell me you told him to gently caress off. I was in bed with my girlfriend when he called; after finding out that no, he did not actually have a real emergency going on, I politely told him in so many words to call someone who has extra fucks to give. I love him, we've been friends literally since birth (10 days apart), but good God is he terrible with impulse control. His parents are definitely enablers. Their two older sons are both successful engineers, so I guess they feel they need to give the weaker link in the family all the support they can. He really does have some screws loose up there, so I kind of feel bad describing him this way, but he's not making any efforts to help himself out of the pit he's dug, despite the fact that he's surrounded by generally good influences. I guess when you have a good network of family to pick up your slack, there's no real motivation for some people to get ahead on their own. Not a Children fucked around with this message at 17:47 on Mar 4, 2014 |
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Mar 4, 2014 17:37
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Ugh. Talking about how free energy devices have been confiscated by the government for national security reasons, too. Taking money from rubes that don't know better. Despicable.
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Apr 14, 2014 14:52
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Zo posted:Pizza is disgusting and anyone who spends money on pizza is solidly in the "bad with money" category IMO.  Goon honeypot post right here. That said, I do know a guy at work who orders pizza for lunch 3 times a week. Probably spends around $150 on it every month. He seems to be in shape, though, so I guess at least it's not affecting his health so much. 
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May 7, 2014 15:54
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Not necessarily. She might still be young and naive enough to get him back on track, trust him again, and let him destroy both of their finances once they're good n' married. Good read, but she did leave out a lot of the juicy deets, like what he was spending over $1k a week of takehome pay on. Christ, if I made that much I wouldn't even know what to do with it all. edit: Read the second thread, half of the responses are lambasting her for going to her mom and having him kicked out. Reddit is a weird fuckin' place Not a Children fucked around with this message at 14:33 on May 9, 2014 |
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May 9, 2014 14:29
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Nail Rat posted:On reddit? Because I don't see that here. All anyone said was it'd be easy to knock that debt out very fast with a budget - which is of course the big caveat. I think he was responding to my last post: Not a Children posted:Good read, but she did leave out a lot of the juicy deets, like what he was spending over $1k a week of takehome pay on. Christ, if I made that much I wouldn't even know what to do with it all. Of course I actually can come up with ways to spend $1k a week, but it'd take some serious mental gymnastics to actually follow through on it.
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May 9, 2014 15:24
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Ugh. I bought a new Camry fresh out of college (2012), and after reading all this I'm feeling like a financial idiot. I figure I'll drive it into the ground and just get a beater when it dies in a decade or so...
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May 29, 2014 13:51
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For the love of God, set up your own thread and stop making GBS threads up this one. For content: My cousin (posted about earlier in this thread) recently got a job as a part-time line cook. Good, right? Too bad all the money is going to dice and D&D figurines. On a positive note, I recently found out that his 6 years of on-again-off-again tuition has at least been close to free, thanks to his mother being a pharmacist for the state school system. 
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Jun 6, 2014 04:40
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$8k in his 401k is just so hilariously low for someone his age that I just assumed it was a typo
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Jun 17, 2014 19:53
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If that actually ends up successful I'm quitting my day job and starting a food truck courier service -- one that delivers food from food trucks to offices/dorms/whatever. I estimate that it entails approximately the same amount of laziness
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Jun 20, 2014 19:57
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Effexxor posted:Consider this. Having 500k in student loan debt and still not having a medical degree after 16 years. I still shudder at the very idea of trying to pay that off. $80 of interest accruing a day. Ugh. This seems like the point where "fleeing the country" becomes a realistic option.
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Jul 2, 2014 19:44
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If you want to know approximately how long a copyright lasts, just look at the age of Mickey Mouse. Disney ain't letting that golden goose free.
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Jul 12, 2014 14:10
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Nail Rat posted:This is objectively wrong. Especially because moving companies are much less trustworthy than friends. They often don't give a gently caress if they break something and have all kinds of poo poo in the contract to absolve themselves of anything. Which might be fine if you weren't paying 500-2000 for their services. Facts. My ex recently used one to move all her stuff from Maryland to Texas. Well, unfortunately, she didn't do much research. They told her that it would be there by the time she arrived, in 5 days. Now they're saying it won't be there for another 3 weeks, leaving her with no clothes, no furniture, and no kitchenware until they get there. I'm sure they're also going to tack on some fees when they do get there (storage, unloading, whatever BS) and strong arm her into signing it just to be done with it. The worst part? Federal law (the Carmack amendment) protects movers who do stuff like this from lawsuits; they're only liable for actual damage to the property. The most she could hope for is to sue for anything not included in the original agreed upon price, which would probably not be worthwhile in the first place. So yeah, there's a lot to be said for recruiting some buddies to throw stuff in a U-haul rather than hiring a moving company. That said, good movers are worth their weight in gold. I've used the same guys for my last 3 moves. It's always come under $500 (moving about an hour away each time) and it's nice to just know I'll be done with it without issue and in under 2 hours.
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Jul 18, 2014 17:16
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FrozenVent posted:This is relevant to this thread's interest: Ahahahaha, their assumptions are straight up hosed. In their calculations they stipulate over $1100 per month on food in addition to $5000 for lunches at work over the year. They assume that both adults in the family are getting a $10 lunch, every. Single. Day. This, in addition to $3000/year for family/holiday gifts, $2400 per year in eating out (which might be reasonable, if it wasn't in addition to a previously stipulated $25/week for takeout), a $700 monthly utility bill, and a $2000 monthly mortgage. Well no loving wonder they're 2 grand in the red at the end of the year.
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Jul 18, 2014 18:46
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pathetic little tramp posted:Guaranteed they will hold her stuff as a ransom when they get there - if you're moving into an apartment complex, they'll block the entry to the complex to force your hand. It's unfortunately a common practice. Ugh, what a loving racket. The thing that really upsets me is that my ex is a total pushover when it comes to things like that, so I can already see them gouging her when the time comes. Maybe I can coach her up to calling the police if they try to pull any of that bullshit.
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Jul 18, 2014 19:57
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Renegret posted:http://www.reddit.com/r/personalfinance/comments/2bh183/i_need_advice_asap/ Ahahaha later on he talks about why he's not working, he doesn't know "if i should take a guaranteed job and risk losing it, or look for job's elsewhere and risk not getting hired." His excuse for not working is literally that he might not get/keep a job.
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Jul 23, 2014 14:41
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My impression is that the money came in bits and pieces, like the guy hitting them up for food/rent/fun money and promising to pay it back. I can't fathom why someone would sink multiple thousands of dollars into someone like that unless there was something shady going on. Maybe this dude was their drug dealer or something.
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Jul 23, 2014 15:05
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rrrrrrrrrrrt posted:A quick hit to keep us from any sort of bootstraps debate: "I didn't have options and it was a nice car." Get a less nice car, dummy!
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Jul 25, 2014 19:31
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The best is when they ask for a "friend" and describe in oddly specific detail the "friend's" situation.
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Jul 30, 2014 19:11
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Paiz posted:I really don't care about the money for the computer but drat how could she go from inheriting over a million dollars to having to pay off 350 bucks in monthly installments?! She should have been set for life! It makes me worry about her future but I don't want to seem pushy about trying to look into her finances. The likely answer is that she's probably not as well off as she appears to be, even at this point. It might be worth offering to help her, but don't be surprised if you get rebuked for it.
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Jul 31, 2014 18:55
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If anyone could've convinced me before that bad financials aren't a big deal when considering a significant other, this just obliterated that chance
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Aug 1, 2014 13:47
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I had a similar situation. Thankfully, our lease held us separately liable, so all our landlady could do was go after the one girl. I didn't even know until the day before I moved out.
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Aug 22, 2014 20:57
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While I was househunting over the past few months, I met about 5 people (out of about 20 spaces visited total) that were either renting out space in their houses or forced to rent themselves because they bought a house with their bf/gf and the relationship fell apart. So, uh, don't do that until you're 100% in it for the long haul, is what I've learned.
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Sep 4, 2014 17:24
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MAKE NO BABBYS posted:The tech hordes descended on Oakland three years ago, it's now BARELY cheaper than SF. Every person (grand total of 4) that has been to Oakland has been burgled or mugged. At least the techies are constantly getting robbed? That's bad with money, right?
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Sep 5, 2014 20:57
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To be fair, they made all the "right" decisions, in terms of the long run. They got lucky with property appreciation and stand to see a whopper of a profit if they can pull the house sale off. They definitely leveraged themselves way too much, though. If their house had in fact depreciated, they'd probably be in full blown crisis mode right now. Not that $200k+ debt is anything to keep calm about about... Definitely agreeing that they've got an overly rosy view of things. Probably how they got into this situation in the first place.
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Sep 6, 2014 02:05
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pathetic little tramp posted:Yeah I was doing the math on how much I'd need to put into a savings account with 1% interest to get 1,000 a month, it's a little over a million. Back in the 60s, that was an entirely different ballgame. That $1 mil was worth 6-8 times what it is now, depending on the part of the decade. Now you'd have to be worth at least $6.5 million to have that kind of buying power. Inflation is terrifying to think about sometimes, is what I'm saying
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Sep 8, 2014 19:24
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Velochis posted:Bad with money: getting a generous offer from parents to buy a perfectly maintained, older, honda for way under market value at 0% interest (100/ month till paid off). Taking the deal/car. Never pay parents (claiming financial hardahip). Use the honda as a trade in for a brand new car valued over 20,000 financed at 13% apr. If my kid did this I'd write the sale value of the new car out of his share of the will
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Sep 26, 2014 20:55
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Nail Rat posted:Suicide and fleeing the country seem like her only options. God drat. Art schools should be illegal. I wonder how many kids who go to them to "follow their dreams" will be working poo poo jobs until they die. I live/work right next to one of the most prestigious art schools in the US. Tuition alone is $43k/year, in one of the cheaper cities on the east coast. A lot of people that go there are either the progeny of plutocrats, or naive kids, as you say, "following their dreams." A lot of the bars and restaurants in the area are staffed by grads. It's a little sad to see.
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Oct 2, 2014 14:13
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Came super close to going to RPI when I went off to college in 2008. By then the rumors that everything had taken a big ole downturn were going strong, so I just went to my state university instead, saved myself around 150k plus scholarships.
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Oct 3, 2014 18:17
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legsarerequired posted:Well, apparently they cost half as much as I thought they did, but he still paid a three-digit number. AND he just showed me a new kilt he bought, along with a Captain America shield, and he informed me that a Captain America hoodie will be arriving for him in the mail soon. I guess my big question is why do you continue to live with a 36 year old manic loser dipshit who'll probably blow all the rent money on drugs and toys? Edit: My bad, I thought you owned the house in question. Not your problem! Not a Children fucked around with this message at 15:27 on Oct 15, 2014 |
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Oct 15, 2014 13:54
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True, if you're paying it off every month. I dunno if you've got low limit cards or what, but it is pretty bad for your credit score. If you're maxing out your card and paying it off every month, chances are you qualify for a higher limit/better rewards card that you should use instead.
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Oct 24, 2014 15:49
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TLG James posted:He never said why he had that much of a loan, just that is was debt. I wasthinking wedding expenses since his wife is also eating 1k a month of organic food, but his post history says he was married in front of a judge. He's being super vague on what that 1k in food is on. I'm betting a big chunk of it is the alcohol problem he's hiding
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Oct 27, 2014 14:29
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Thinking about this dude's thought process just makes me extremely sad I've never met anyone who blew through money like that, and if I did I'd probably be doing everything I could to talk them out of it. He doesn't sound particularly worth it though...
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Oct 31, 2014 15:23
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Then let his best bud drive and total it lol
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Nov 3, 2014 15:50
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Folly posted:I can't easily guess his age because he's got that slightly pudgy build common in IT (makes you look older) and he got that laser hair removal on his beard (makes you look younger). Oh, except for his mustache, he kept the mustache. Wait, laser beard removal is a thing? Did he just get sick of shaving, or what?
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Nov 7, 2014 20:22
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It came from Reddit:quote:I'm just a bit lost in life in general, but I'm hoping you all can right me towards a better financial situation for the future. Apparently Drexel costs over $80k a year now? Dude can't even flee the country because his parents are on the hook for his loans. Lots of people suggesting he go work on an oil rig for a few years...
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Nov 9, 2014 17:21
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District Selectman posted:My parents are idiots with money, so I've always tried to figure out how I became good with money. I had to actively ignore a lot of their advice. The best I can figure are two things: This is the situation that quite a few people find themselves in. Just imagine if you'd used your newfound freedom to finance a car and take a nice vacation? After you see that income balance poof out, that debt still there and growing, and the continual stream of neat stuff all your other newlygrad friends are doing and buying on facebook or whatever, it's pretty easy just say "gently caress it," pay the minimums on debt, and dig that hole deeper. Repeat until the reality of aging sets in, then panic when you realize there's nothing keeping you from having to live off dog food if you lose your job. It seems that point usually rolls around at age 50 for most people; just think of it as having a 25 year head start. Edit: To chime in on the renting vs buying conversation, freedom is a pretty big element there, too. Buying ties you to a location, renting does not; one of the big barriers to me buying a house is simply that I don't know if I want to be here 5 years from now. Comes down to the personal needs of the individual in question, obviously. Not a Children fucked around with this message at 05:56 on Nov 11, 2014 |
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Nov 11, 2014 05:53
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THF13 posted:From reddit. Oh my God, how do people not have panic attacks when poo poo like this happens?
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Nov 11, 2014 16:42
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Barry posted:I can't imagine any sort of a financial situation ever giving me a panic attack. It's just money. Er, yeah, I guess "panic attack" is a bit strong, I was more of just trying to say that it's ridiculous to be cavalier about taking a $800 hit for literally nothing over 2 months. And yeah, seconding that in urban locales it's a totally different thing. In Baltimore in particular, property taxes are through the roof. $800 on rent and $800 on a mortgage around here aren't even remotely comparable once you account for utilities, maintenance, and taxes. Edit: I spend $800/month for a room and a bathroom in a decent house, and am perfectly happy to do it. Man, working in the middle of nowhere sounds nice.
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Nov 11, 2014 17:16
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LeeMajors posted:My old roommate used to get these little postcards from Wachovia like three at a time, multiple times per week. What did he spend $112k on in 6 months? When I try to think about how I'd blow that money in that time I'd probably get through about $30k on expensive booze and nice dinners and video games then... I got nothing
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Nov 11, 2014 18:50
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