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Tony Montana posted:I'm starting to realize this is like a therapy thread. A friend of yours does something loving stupid, you either can't tell them because you're not that tight or you try and they don't listen to you, then you can come in here and we can all agree with you and you don't feel like an idiot. A good friend of mine and I are very open discussing our finances with one another. For the most part he's usually smart about these things but the other day told me his plan is to get a new car every 5 years. He has a 5 year payment plan for his existing car and when it's paid off he will trade it in for a new car and repeat the cycle every 5 years. He's already traded in one fully paid off car and will do so again in 3 years. I brought up leasing as a possibility and he dismissed it out of hand saying that his system is much better. Am I crazy here or is he completely wrong?
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Jan 22, 2014 15:34
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| # ¿ May 15, 2024 04:46 |
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I was dumb in 2008 and bought a slightly used, ~13k miles car with a 6 year loan and used some of my student loan money to pay the down payment. I paid it off early and plan on driving it until it hits 200k miles in 10+ years but it was probably the dumbest financial decision I've made in my life.
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Oct 25, 2014 01:00
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http://www.philly.com/philly/sports/phillies/The_family_legal_fight_over_Ryan_Howards_finances.html Same thing happened with Ryan Howard of the Phillies. Even worse it was his parents and twin brother that took advantage of him. quote:Corey Howard says he worked for his brother without a written contract for 3 years before the two put their unique arrangement in writing in the form of a 15-year “consulting agreement” that paid Corey $92 per hour, plus a 5 percent commission on any marketing/business agreement negotiated by Corey. The suit says that Howard was paying his brother $7,975 every 2 weeks.
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Nov 20, 2014 18:18
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Costco is taking bids from other credit card companies to see if they are going to drop Amex as their exclusive partner. I believe they already did this in Canada. I let my Costco membership lapse because I realized it was bad with money to drive miles out of the way to save .10 cents on gas and buy a large carton of eggs every 2 weeks.
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Dec 5, 2014 17:36
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Does buying a condo carry the same hidden costs as home ownership? I am perfectly content to rent for awhile if not forever since LA prices are insane but realistically I am a few years away from being able able to put down 20% on a nice place if I was so inclined.
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Dec 9, 2014 23:20
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Future bad with money: My siblings and I are inheriting money in the next month or so. Nothing life changing but enough where all of us will be able to clear our student loans and have money left over. However our sister who is 22 is a financial mess. Her highlights include revolving credit card debt, quitting her job because her friend was quitting, owing money to friends and family that helped her go on a month long Thailand vacation, and deciding to transfer to a private school that costs 30k a year because it was too much work to apply to a Cal State. We are hoping there is a way to protect her from herself but I think we all know at the end of the day she is going to blow this money. Outside of trying to trick her into thinking she can't touch the money until she is older I am fairly certain it will be gone within 2 years.
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May 22, 2015 18:00
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My company hired a receptionist once who sold Herbalife products to some of my other coworkers and then quit without notice one day after someone disabled our phones and attempted to process a 10 million dollar wire with a stamped signature from the CFO. They could never prove it was her though.
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Jun 25, 2015 05:21
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BaseballPCHiker posted:I see you havent had the pleasure of paying Twin Cities rent. I live out in a nearby suburb which is a little cheaper and as far as I want to go commute wise and my rent is approaching $1000 for a one bedroom. I could move to North Minneapolis in a bad area or Payne-Phalen and save probably $200 a month or so at best. %20 for a down payment on a house anywhere around here would be at least $40k. I dont have that but I do have $8-9k to throw down as a down payment for a boat loan. Living in Los Angeles is BWM. I should move to Minnesota and live like a king but on land like a normal person.
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Oct 23, 2015 02:02
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| # ¿ May 15, 2024 04:46 |
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axeil posted:
From her post it sounds like she inherited an IRA/401k and withdrew the money to put down on the house. Guess she didn't realize you have to pay taxes on those distributions.
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Mar 15, 2017 15:50
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I have no idea what happened here given the info but I'm guessing they did something foolish or the guy running it is screwing them over.
the op already deleted her post. drat, that's gotta be some kinda r/personalfinance record.