Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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Raldikuk posted:

I am the guy in the comments telling him to sell the car and roll the balance into a new loan lmbo. Or maybe deal with your car without heated seats it isn't the end of the world lol

That reminds me of how every single PF thread on reddit that is about losing all your money from bitcoin has at least one guy telling him that the way out is to buy more bitcoin. It can only go up now!

# ¿ Oct 10, 2018 18:23

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# ¿ May 15, 2024 18:22

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

I heard two commercials on the radio this week that boggled my mind - both from the fact that they exist and the fact that they are advertising on a major radio station, so they assume someone is going to do business with them based on their ad.

One of them was for a car dealership. It had a painfully loud and high-pitched actress doing an imitation of Marissa Tomei from "My Cousin Vinny" (read everything with no g's). It wasn't just the standard BWM that blew me away, but the balls on how they sold everything as a MASSIVE favor they were doing you.

quote:

All these car dealers today are trying to take me through the ringer! $2,000 down? $3,000 down? Even $6,000 down! Who do they think they are?

Then some random male voice comes in and says:

quote:

[something] auto is where you need to go. They won't try to rip you off with outrageous down payments. They only require 10 cents! That's right. ONE. DIME. DOWN.

And if you make at least $700 per month, then we'll give you up to $35,000 in credit with as much time as you want to pay it down. You pick how much you want to pay each month! Pick however long you want, up to 84 months!

Then the lady comes back with:

quote:

ONE DIME DOWN! And I can choose how long I want to pay?!?

How do you guys stay in business with these rates?

Guy:

quote:

By doing what the customer asks.

Lady:

quote:

Wow! It's a crime to pay more than a dime!

The other ad was for some kind of insane financial advisor/self-help/survivalist amalgam. I don't remember the exact script, but he kept going on and on about "When it all goes down, and it will go down in this uncertain world we live in, what can you feed your children with? What can you touch, hold, and use?"

He was selling some kind of "material retirement" package that was access to a "PRIVATE AND EXCLUSIVE" food storage center with "OVER 200,000 GALLONS" of fresh water, physical gold coins, physical silver bullion, and "EXCLUSIVE MONTHLY TRADE SECRETS" that will separate you from the rest of the people without them.

# ¿ Oct 11, 2018 20:54

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

HelloIAmYourHeart posted:

I've absolutely heard that ad in Kansas City and some research indicates it's used by dealers across the country.

Yeah, I heard it in the Philadelphia airport.

wilderthanmild posted:

With 0% interest that would be $416 a month at their maximum payoff time. How is it even legal to do that for someone who makes $700 month? I'm sure that they charge some nasty interest rate on top of that too.

I would guess that is what the "up to" asterisk is for. But, these places make money through ridiculous financing or repoing the car. They either collect the interest or collect the car.

Leon Trotsky 2012 fucked around with this message at 14:16 on Oct 12, 2018

# ¿ Oct 12, 2018 14:13

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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My friend is posting that his Tesla stock is way down since he bought it, but he thinks it is going back to the moon again very soon.

He is asking people if he should sell all of his stock now and then use that money to invest in Tesla when it starts to go back.

I'm not sure what the logic is here. Even if you don't know anything about investing (and it appears that he does not), then any random person can obviously see that cashing out after it goes down gives you less money and buying when it starts to go up again will cost more money.

The even weirder thing about it is that he isn't even a Model 3 believer or electric car enthusiast.

He is convinced that, within the next year, Tesla is going explode in value after they install "Smart Roofs" and "House Batteries" in every house in America and put the electric companies out of business.

I googled it and Smart Roofs are apparently a real thing.

# ¿ Oct 12, 2018 16:15

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

At some point, when you are up over $20,000 in payments for your $900 loan over several years, wouldn't you try something different?

Even if you just say, "gently caress it" and burn it all down. Bankruptcy seems like it is worth $40,000.

# ¿ Oct 12, 2018 20:18

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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My friend who bought a house with her boyfriend, broke up before they closed, decided to close anyway because it was in "an up and coming neighborhood," and then had to live with the ex-boyfriend and his new girlfriend in the house they bought because neither of them could afford to move out or pay the mortgage alone has finally moved out.

Her name is still on the mortgage and she pays both rent and her half of the mortgage (her rent is a good deal, though. Her friend gave her a discount).

They lived together for 1 year and 3 months after they broke up.

They still have no potential buyers for the house and she has sunk a substantial amount of money into adding a fence and replacing the HVAC. Her ex is unemployed and his parents are covering his part of the mortgage, but they won't do it forever.

She really does not want to take a bath on this house, so both of them are considering just keeping it and paying the mortgage until the neighborhood "gets on the map." She thinks that "his parents won't really stop paying the mortgage" and that is why she is okay with keeping her name on there and waiting a few years.

# ¿ Oct 18, 2018 14:58

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

George H.W. oval office posted:

Is this area at all gentrifying? I love your dumb friends

I don't think so.

It's in a town outside of Jefferson City, Missouri called Fulton.

I don't live anywhere close to there, but I've visited.

# ¿ Oct 18, 2018 15:45

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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- Bought a 36-year old car as his daily driver.
- Dealer repeatedly tells him that this is "as is"
- Spent $7,500 on it
- After the radiator blew, he kept driving it and *somehow* the engine blew up after 15 miles.
- After all of that, spends another $775 to tow the car back to the dealership.
- Bought a 36-year old car and assumed he could budget $0 for repairs and maintenance for the first year.

quote:

I bought a used car from a BMW Dealership. Broke down not 15 miles after leaving. Dealership refuses to work with me.

As the title says, I bought an 82 Chevy El Camino with 28k miles on it from a BMW dealership for $7,500. I went to dinner with my fiance there in Chicago before leaving from there to drive 3 hours south to our home in Springfield. I was unable to get 15 miles away from the dealership, as the radiator blew and the engine overheated and ruined it.

I spent $775 getting that car back to the dealership due to towing fees, paying a mechanic to look at it, etc. The car was dropped back off the next morning. I called the next day (Sunday) and talked with the salesman who had to wait till Monday to talk with the Used car Manager.

He said the car was sold as is and its my problem but just for the inconvenience he will tow to to springfield for me, which he did and then dropped it at my mechanic who quoted $4500 to rebuild just the engine. My problem is the car was advertised as working and "runs great" which it did not and now I'm out a car and owe the bank $7500.

The bank cant give me any more money for the repair. The mechanic offered the Goodyear credit card with a 30% apr which Im not even wanting to consider.

I called the Attorney General and filed a complaint and Ive repeatedly tried to get the dealership to make the situation right. My next step is go to corporate.

I'm not sure what else to do and my brain is unable to come up with anymore ideas to try and pay for repairs. Any advice?

https://www.reddit.com/r/personalfinance/comments/9nnxqs/i_bought_a_used_car_from_a_bmw_dealership_broke/

Leon Trotsky 2012 fucked around with this message at 20:25 on Oct 18, 2018

# ¿ Oct 18, 2018 20:23

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Your income nearly doubled in one year and you are about to burn out of your 80-hour per week job already.

You want to budget a $1 million mortgage based on your current income (that will likely decrease by 40% soon)

How does someone working 80-hour weeks every week, has a spouse working 60-80 hours per week, and has an infant child find time to spend $3,500 on entertainment?

And how does he have time to use his $500 PER MONTH gym membership.

quote:

Affording a $1.0M+ home?

My Wife and I are in looking to upgrade to a larger home in the next few months. We live in Chicago, currently own our condo and have been looking for a number of months. The math tells me this is doable, but having grown up relatively poor, i'm having a tough time stomaching the risk. Am I being ridiculously conservative, or appropriately cautious.

So for finances we make around $560,000 a year before taxes. We're in very aggressive (60-80 hour per week) jobs that i'm not sure we can hang on to for much longer. I'm in Consulting, she in law. Our income in 2015 was $300,000 - so the growth has been breakneck. We take home about 22,000 per month after all taxes, health insurance, and retirement.

Bonuses are lumpy and typically hit at about $70-80,000 for me and 30,000 for her (after tax).

We have $175,000 in student loans

Our expenses look like this:

Future Mortgage: 6850/month

Daycare: 2200/month

Car payment: 450/month

Car insurance : 80/month

Entertainment dining out : 3500

Student Loan Payments: 1,500 /month

Heat: 100/month (average)

Electric: 150/month

Internet: 60/month

Netflix + Hulu: 22/month

Gym: 500/month

Cell phone: 40/month

Kids college account: 500/month

Emergency Savings: 4500/month

Leon Trotsky 2012 fucked around with this message at 20:38 on Oct 18, 2018

# ¿ Oct 18, 2018 20:36

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

I have read 3 different links people posted in this thread about Soulcycle and still don't know why they can charge $500 a month for gym membership.

I am seeing:

- More machines
- Eucalyptus Towels
- ???

somehow add up to $490 per month more than Planet Fitness.

# ¿ Oct 19, 2018 04:58

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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His "sales" job is being the team lead for the automotive section of a major retail store.

Google suggests that this car is around $40,000 to $50,000 and there is no way he makes more than $35,000 per year.

Edit: I somehow missed that he spelled out how exactly much he paid for it in the post.

Leon Trotsky 2012 fucked around with this message at 14:13 on Oct 19, 2018

# ¿ Oct 19, 2018 14:10

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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VitalSigns posted:

quote:
i understand the cheering at the markets going down but as someone who works most commonly with people that have quite low net worths often tied to some bizarre stock mixture it tends to effect them a shitload more because they dont have the ability to withstand downturns nor the education to ride it out so they quite literally sell low and buy high over and over and over and its pretty depressing

The stock market is a rigged casino where the rich trick you into playing and steal all your money.

Sorry about your friends, but their paper wealth never existed any more than the paper wealth of Madoff's investors

VitalSigns posted:

quote:
this is a stupid take

My bad, keep investing your retirement in the perfectly rational market

VitalSigns posted:

quote:
um yes, you should absolutely do this, in an index fund, because when you're saving for retirement you are working on a long enough time horizon that you'll outlast the next slump/recession/etc and you would be leaving stupendous amounts of money on the table by keeping it in a savings or checking account

Right exponential growth always lasts forever, sounds like a great concept to bet your future on

VitalSigns posted:

If you think it's a great idea money to dump money into index funds on the assumption that someone else will always be there to pay more for them then you did when you need the money despite vulture capitalists hollowing out the economy and forcing more and more people into poverty, go for it.

VitalSigns posted:

I think this idea that 401k's are going to secure your retirement is a myth. Like if markets were perfectly rational, then as an atomized individual sure owning a piece of a company you expect to generate future profits might work, but there's a fallacy of composition here. If everyone is just dumping their money into index funds then prices aren't really a rational expectation of future profits anymore, they just represent a hope that someone else will be along to pay even more for those shares than we did forty years hence. And in the real world CEOs are looting the hell out of their companies and leaving shareholders and workers holding the bag.

This pollyannaish idea that markets always go up when you take the long view goes back basically 60 years, ignores plenty of examples of stock markets in some countries just bottoming out and disappearing, and depends on assuming an unprecedented post-war period of economic prosperity will continue forever.

But whatevs I'm just some idiot on a dead hetero comedy forum, all the capitalists tell you to put your money in the market, and they're all rich so they must know what they are talking about.

I don't think individuals have meaningful options in our system, just constrained choices between various bad and worse options

VitalSigns posted:

Hmmm

Downside of Automatic 401(k) Savings: More Debt. New research finds employees auto-enrolled in retirement plans borrow more than they otherwise would have, offsetting savings

Numlock posted:

Not agreeing with vital signs but I�m finding it harder and harder to believe that 401ks and the like aren�t different than bitcoins given the apparent disconnect between the stock market and what I see every day.

Leon Trotsky 2012 fucked around with this message at 14:03 on Oct 31, 2018

# ¿ Oct 31, 2018 14:01

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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BEHOLD: MY CAPE posted:

There are a lot of dumb takes in here and the argument that capital investment virtually always produces a return is pretty strong historically speaking even if isolated examples of capital markets have collapsed. It is fair to criticize the United States system of 401k and related entities as an unnecessarily complicated and over-regulated yet still somehow very incomplete retirement savings vehicle that primarily serves as a huge tax break to already rich people while leaving everyone else to attempt to survive on Social Security

That's a fine point to make.

Arguing that a checking account will outperform an IRA over the course of your life, that bitcoin and stock are the same thing, and that mutual funds are a scam designed by the banking industry to extract more fees than people would get buying individual stocks are not really a part of that point.

Saying, "You should eat less fatty foods." is a fine point. Saying, "You need to eat less fatty foods because the illuminati mind control serum is only fat-soluble and that is how they get you." is probably not coming from someone looking to make a well-founded critique of the food pyramid.

# ¿ Oct 31, 2018 14:53

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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# ¿ Nov 17, 2018 05:28

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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Ur Getting Fatter posted:

I feel like it�s missing something, like her saying she�s gonna use the money to really give this Lularoe thing a go.

It's a man.

He is involved with some kind of protein shake side-business.

# ¿ Nov 17, 2018 06:12

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

quote:

Need Help! Friend owns my house for $1. Not sure how legal/tax situation works. What to do?

My friend purchased a townhouse for $280K at the height of the housing boom. After 2008, his builder went bust, and a new builder came in selling new townhomes for $150K.

He stopped paying his mortgage and walked away from the property. 2 years later, he called Bank Of America and negotiated to pay $5K to settle the debt. They accepted and his credit report is as if he never owned the home and walked away.

My home has lost about 10k of value in the past few years and my friend told me he knew of a way to get my money back since he did it with his old house.

I refinanced my house to pull my equity out and combined it with my savings and some savings my friend loaned me. I approached my bank which is Wells Fargo to try and buy my mortgage. They told me that it was impossible. I told them about my friend who did it and they said that it might be possible, but that they do not deal with current owners like that. We went to the county register and I transferred the house to my friend's name for $1 and got a bill of sale.

I went back to the bank to ask about buying the mortgage for pennies on the dollar and they told me that Wells Fargo only sells mortgages to Fannie Mae and Freddie Mac and the FHA and VA.

My friend wants to see if he can refinance the house in his name with a bank that lets you buy mortgages and we could pay off the mortgage with Wells Fargo and then do it there.

But, I'm not sure what to do now and want to wait before we do anything. My brother in law says that there might be tax problems with doing that, but I didn't make a profit off of the house and my friend only bought it for $1, so I don't think they can tax it if he sells it back to me for the exact same price.

I want to make the original plan work, but if we have to wait a while then I want the house back in my name. We spent a lot of time and money on this and combined with the fact that the house is worth less than when I bought it makes me really sad. My friend did it before and had no issues. We also had all the cash together so I thought we could do it very simply without having to pay a lawyer. My friend was going to take some of the profits from helping me out to pay off his truck. He works construction and they have threatened to repo it and he needs it for work. So we can't sit around for too long. I wanted to surprise my wife with no mortgage for christmas and wouldn't mind paying a little extra if it is possible to have it done by then.

Anyone who knows what we should do next to get it done ASAP without any tax or legal problems would be greatly appreciated.

Thank you

https://old.reddit.com/r/personalfinance/comments/9yjo1i/need_help_friend_owns_my_house_for_1_not_sure_how/

# ¿ Nov 19, 2018 19:57

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

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Motronic posted:

This story is totally fake because you can't transfer a property title with an unsatisfied lien/mortgage interest on it.

Boo. Is it possible this guy has did something else and doesn't understand it?

I don't even understand what this scam is supposed to actually accomplish. Why do you need to get together enough cash to pay off your mortgage if you intend to buy it for pennies on the dollar?

Leon Trotsky 2012 fucked around with this message at 20:25 on Nov 19, 2018

# ¿ Nov 19, 2018 20:14

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Here's another fun one:

quote:

Can I claim my manchild boyfriend as a dependent?

Sorry for the clickbaity title, but I am serious. He is not a relative, obviously, and he made more than $4k this year... well I think. I am not certain about that part actually. Before taxes, he probably did.

What I am certain of is that he pays 37% of rent, 0% of bills, and maybe 10% of his own food. Since we�ve lived together since April, he has drained his savings to pay his part of the rent, so that he can at least say he doesn�t live with his parents anymore, and continues to go into CC debt by making only slightly more than the minimum payments. This is just background info, however not an invitation for criticism of my life choices. The point is he makes very, very little money and contributes very, very little to the household finances.

We cannot be considered common law married that I know of (we live in CA), but I am not aware of what laws pertain to filing as �head of household� or what my options are, if any? Is there any way to claim a non-relative, non-spouse on your taxes? If there�s nothing, (which is how it seems) that�s fine. I�m just trying to understand my options and all my google results are flooded with how to claim a college aged child who worked part time.

https://www.reddit.com/r/personalfinance/comments/9yh1if/can_i_claim_my_manchild_boyfriend_as_a_dependent/

Why not just break up?

quote:

My wife and I are having financial problems when we shouldn�t

I�m 26 and my wife is 25, we have a 9 month old and I�m the only one that works. I make about $1780 a week, with a 60 hour work week. But it always seems like it not enough.

We have about $2500-$3,000 worth of bills every month, excluding groceries and gas, but when I get paid on Saturday, by the next Tuesday or so it seems like it�s all gone. I got paid $1675 on Saturday, it�s Tuesday now and we have $390. We spent $400 on her car, $300 on the phone bill, and $200 on the electricity. I really don�t know where the rest went.

We take out $100 every Saturday for our personal spending, my wife gets $80 and I get $20, since I�m at work all day I usually just buy lunch and she�s at home so she ends up spending more.

I guess the advice I need is how do we get ahead? I shouldn�t need this advice because of how much we make, but I�m not sure what I�m doing wrong.

EDIT: okay I downloaded Mint and attached my accounts. I went through and categorized everything to where it goes. The totals on the different categories are going to change when my wife and I sit down, but what has been spent, shows how we�ve been spending in those categories. And to tell you the truth, I�m super angry at us.

budgets

"We only spend $180 per week for personal items."

"We spend $3,245 per month. I don't know where ~$2,450 of it goes each month."

How are you paying $315 per month for 2 cell phones in TYOOL 2018?

https://www.reddit.com/r/personalfinance/comments/9wqpu9/my_wife_and_i_are_having_financial_problems_when/

"Reddit, help me make the easiest decision in the world. Which is the better financial decision? Should I go into debt for a Master's Degree and try to live the hellish life of an adjunct professor of Computer Science? Or should I take a $160k job with no debt?"

The idea of a going with a $200,000 per year opportunity cost to get a Master's in Computer Science is baffling.

quote:

$160,000 at 21 or a 1-year Master's degree

I am currently 20 and an undergraduate senior at a well known university in the United States. I have received a job offer from a large tech company in Seattle for a software engineering position that starts after I graduate, a few months after I turn 21. I also applied to (and was accepted to) my school's accelerated master's program for computer science, which I can drop out of at any point or finish within an extra year. My job offer expires in 4 days.

As someone who has no idea what they want to do with their life, I have been wracking my brains about what I would like to do - especially since the offer is a mind-boggling $160,000 in total first year compensation. This is especially ridiculous to me, coming from a once-dirt-poor immigrant family that as far as I know has never even broken $100k in household income. It is well known that engineers at the company can quickly progress to $200,000 after a year or so, and then a cool $350,000+ within ~5 years of graduation. Being a longtime lurker on /r/financialindependence, it seems like an extremely lucrative opportunity FIRE-wise, and from a purely financial perspective, it seems like a no-brainer. It would also allow me to rapidly eradicate my $40,000+ student loans.

I am also concerned about being chained to a desk for a large part of my adult life in the pursuit of capitalism, but that is another post (novella?) in itself. Suffice it to say that although I interned for this company over the summer and found the work at least somewhat interesting (although very intense), the prospect of doing cutting edge research and "helping the world" instead is extremely enticing, and I feel I would in some sense be selling out if I took the job. I could also potentially kill myself by doing both at the same time (online master's).

If I wanted to do the master's or a PhD later (company will pay for some of it after a year of work), it would take 2 years and would not be at the same caliber of institution as my current one, due to my underwhelming 3.2 GPA. (I do have research experience, but it is not too focused). If I wanted to do the Master's, I can also convert this full-time offer to another summer internship and then start in 2020 with a salary bump as well - the company is not going anywhere. However, the Master's would run me about $40,000 in total for the year- about a $200,000 opportunity cost. Is this really worth it?

I am sorry if this sounds condescending or hoity-toity to anyone. I am just as confused as you as to why somebody wants to pay me three times the median household income as soon as I can legally have a drink. I would really appreciate any help, especially from engineers/scientists who have gone through something similar. Thank you!

-----------

Edit: $160,000 is in total compensation; the salary is about $100k with the rest being a signing bonus and stock. Yes, this is a legitimate offer I have in writing from a very large and well-known company after a summer internship.

https://www.reddit.com/r/personalfinance/comments/9rufrc/160000_at_21_or_a_1year_masters_degree/

Leon Trotsky 2012 fucked around with this message at 20:35 on Nov 19, 2018

# ¿ Nov 19, 2018 20:20

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

This line should be /r/personalfinance's new motto:

quote:

This is just background info, however not an invitation for criticism of my life choices.

Edit: Man, I just read some of the comments on that one. How do you get to this point in your life? She is obviously crazy resentful, so she knows that it is making her miserable, but wants to stay miserable for some reason.

quote:

I am not sure how free rent gets handled in a situation of determining 50% support.

It�s moot it seems as I think (hope maybe the better word) that he will make more than $4k by the end of the year, but hypothetically, if he doesn�t, how would I determine his support for Jan-March?

The first three months we lived with his parents, I paid rent (including utilities), he didn�t. I paid for all of his food, the only things he bought himself would be his own entertainment, video games, and a suit for a funeral. His mom would pay for pizza once in awhile when she wanted it (but only eats one slice so we get the rest), so it seems like his only living expenses were food, which I paid for. But I don�t know how much of his living expenses his free rent constitutes in that situation? Ostensibly if they wanted to call it $250/mo which is what they were charging me, then I still paid more than 50% of his support. But if they want to call it $1000/mo or something more proportional to their mortgage then I would not have paid 50%. So how do you quantify the support value of free rent?

Leon Trotsky 2012 fucked around with this message at 20:59 on Nov 19, 2018

# ¿ Nov 19, 2018 20:56

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Motronic posted:

I think I've spotted the trend in these posts when that gets called out and answered: they are financing two $900 phones and replacing them ever 2 years of whatever.

I feel like $315 per month would be more than enough to outright buy the phones over 2 years, right? Isn't the appeal of those deals that they have little or no interest and no upfront costs?

# ¿ Nov 19, 2018 21:03

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Speaking of very confusing and poorly thought out scams...

quote:

My girlfriend�s illegal parents want to open a credit card account under her name in order to buy a house. Should she be worried?

Just as the titled states. She is 19 and pretty oblivious about finances. I have tried to explain to her why this is a bad idea but she either confused or won�t listen. Reddit, can you please help me explain to her why this is a terrible decision to go through with?

He knows it sounds like a bad idea, but also thinks that opening a single credit is how you qualify for a mortgage.

quote:

Just curious, how long does it take to establish credit good enough to get a loan of 6 figures for a house?

I can't tell if the parents have no idea what they're doing, or if they know exactly what they are doing and just trying to get a credit card.

https://www.reddit.com/r/personalfinance/comments/9q8r1c/my_girlfriends_illegal_parents_want_to_open_a/

# ¿ Nov 19, 2018 21:09

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

What are the downsides of marrying a good friend just so they can use my work provided healthcare?

quote:

I have a very close friend who has a potentially bad heart problem, asthma, and a child. My work gives me good healthcare that I never use. We are both in our late 30's and are not lovers. If I married them they would instantly have access to better doctors, or at least a doctor who put effort into helping them.

What would be the downside of this for me? I currently make >50k a year and rent an apartment.

quote:

They'll instantly own 50% of your stuff.

quote:

Another thing to consider is medical debt is marital debt.

https://www.reddit.com/r/personalfinance/comments/9s4etq/what_are_the_downsides_of_marrying_a_good_friend/

# ¿ Nov 19, 2018 21:12

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

quote:

I am recently married and my wife and I have an insane amount of credit card debt (50K). I have a FT job but she is not employed and is a student. The debt is across a bunch of different cards. Looking for suggestions. More details below

We live in NYC, rent is 2K month. Salary for me is 110K, wife is 0. She is a student and will soon make small income in an admin capacity. Debt is spread across a bunch of credit cards and was incurred mainly due to our wedding and debt she had incurred due to bad spending habits from anxiety. After mutual agreement, I now control all of the cards.

Personal spending habits:
We order in every night, average cost is $20 total
Coned is around $200
Cable, Internet, $150

We don't really spend much outside of this.

quote:

With $50K in debt you don't get to order out every meal to the tune of $40 per day. Start being responsible with your spending.

Yea - I see your point. I look at it more as smaller costs but it adds up.

It's nearly $1200 a month. Some people live on that alone.

quote:

I'm questioning the budget. You only list $2,950 in monthly expenses, with $9,167 in monthly income. On paper you have no problems. Where is the rest of your money going?

Thanks for the response. We live in NYC, so there are a lot of taxes.

Probably double food costs because we both get lunch. Add in an occasional cab ride here or there as well.

~$7,000 per month in "taxes" and an "occasional cab ride."

https://www.reddit.com/r/personalfinance/comments/954mac/i_am_recently_married_and_my_wife_and_i_have_an/

quote:

Should I freeze my 401k contribution to save for wedding and first-time home purchase?

The body on this one is long-ish and boring, but they want to divert 12% of their income for 2 years from their 401(k) to a wedding fund.

:negative:

quote:

Planning a wedding with a pile of debt

Looking for some advice!

I am a 29 year old woman who just got engaged. I work full time and make about $35k a year, and my fiance is about the same. Monthly I bring in about $1800. I have four credit cards with about $22k in balances. I'm paying around $750 a month on debt, $437 in rent, a $317 car payment, and about $250 on bills. I am not able to save hardly anything.

We are starting the process of planning a wedding with a date in the fall of next year. I currently have $3000 in savings, and am getting about $5000 from my parents for the wedding. I am also getting a stipend in the spring of about $5000 that I plan to use for the wedding. My fiance doesn't have a credit card, and I'm considering asking him to open one to help with wedding expenses.

Yes, I know that a wedding is unnecessary but its something we both want. I am not sure exactly what kind of advice I'm looking for, I just wanted to put it all out there because its been stressing me out. I hate the amount of debt I have, I don't want to go further into debt to get married, and I just feel overwhelmed. Any words of advice or encouragement would be greatly appreciated!

https://www.reddit.com/r/personalfinance/comments/9eyajn/planning_a_wedding_with_a_pile_of_debt/

Leon Trotsky 2012 fucked around with this message at 21:35 on Nov 19, 2018

# ¿ Nov 19, 2018 21:31

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

I just searched relationships, personal finance, and legal advice for "boyfriend," "girlfriend," and "unemployed."

There were a lot of entries, but they were all exactly the same and mostly boring:

- Girlfriend is employed, usually makes a small amount of money, and is the breadwinner.
- Boyfriend is unemployed and mad at her for pressuring him or being controlling with money.
- Girl refuses to consider breaking up and wants budgeting advise.
- Girl is obviously miserable and sinking deeper into debt/treading water.

Just over and over. The ages were all over the place too; from 19 to 40.

How do people get into these situations and refuse to ever bail? And how are these guys so unmotivated to do anything getting into relationships and with people so dedicated to staying with them?

I got through about 15 entries before I just got bored and sad.

# ¿ Nov 20, 2018 03:32

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

One of my coworkers today was explaining that they finally finished trying to get a new car with fewer miles and lower their monthly payment. She had about 95,000 miles on her current car.

She ended up going to a bunch of websites and dealerships to try and find something with fewer miles and lower payments. Then, when she couldn't find any for a while, she got frustrated and just decided to buy one from the dealership with fewer miles because she was committed to the idea and the time she spent on it.

She ended up trading in her car for a used car from a dealership with 88,000 miles on it, rolled her negative equity into this new car (I don't know how much, but she said that she got $4,000 credit for the trade-in, which was a 2014 Ford Escape, and rolled the rest of the loan into the new loan), and got a new 6-year loan with the same monthly payments.

She was also praised as smart for doing this by my boss because she has the same monthly payments, but 7,000 fewer miles. This is the same boss who went to get her car serviced at the dealership and ended up leaving with "a free upgrade" to the 2018 model of her car, where basically the same thing happened.

She has 30 days to return it and I gently suggested she might want to do that. But, my boss jumped in and said, "Why would she do that? She got lower miles with the same cost. I did the the same thing and it worked out fine."

I just left it.

Leon Trotsky 2012 fucked around with this message at 15:41 on Nov 20, 2018

# ¿ Nov 20, 2018 15:38

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Apparently, there is a new feature on Facebook that lets you open a store or sell things through Facebook.

My friend the #Bogwitch has opened her own store on there to sell her tinctures. There's a big sale going on because November is a vibrationally significant month.

The sale price for a 4 oz homeopathic tincture is $82.

She has sold 179 so far according to her page. This is GWM for her, but BWM for 179 people.

Note: It is a homeopathic tincture. That means it is water.

You can also book her band through the marketplace.

# ¿ Nov 20, 2018 15:56

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Bird in a Blender posted:

Probably more goes to people not having a budget, or understanding what they can afford. I have a hard time wrapping my head around it, but I think there's a good section of the public that just assumes they'll always be in debt, and never really think about what their income actually covers.

My coworker that just bought the new car and my boss both think that a car payment is something you always have when you own a car. That means that your major goal is just lowering the monthly payment, since it will always be there.

# ¿ Nov 20, 2018 20:33

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

This was posted right after the last bitcoin surge at the end of 2017/beginning of 2018.

quote:

My [23M] friends [20-28MF] are being roped into investing in Bitcoin. Is it in my place to advise them otherwise?

Most does not fully know how Bitcoin works. They are being told that Bitcoin crash is impossible (indirectly), only that slumps are possible.

I am worried about them. They're taking bank loans out to tune of �15k or so to invest.

I do not think it's bad idea to invest in Bitcoin but that's only if you have a strong knowledge of how it works.

Is it in my place to advise them otherwise? Has anyone noticed similar trend? How do I help?

TLDR; Bitcoin is going up, dozens of people advising my friends to invest and they do not fully know how it works. Is it my business to advise them otherwise?

https://www.reddit.com/r/relationships/comments/7v2kx2/my_23m_friends_2028mf_are_being_roped_into/

He didn't say anything to his poor friends.

Remember kids, if your friends or loved ones start talking about fiat currency, are running up $1,300 per month electricity bills, and denying their children $3 pizza because they need it for the crypto fund... don't be silent.

Leon Trotsky 2012 fucked around with this message at 16:15 on Nov 21, 2018

# ¿ Nov 21, 2018 16:06

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

I had to double check the boyfriend's age in the title.

quote:

My (F22) boyfriend (M31) of 2+ years can't decide on a job. He changes his mind about the job he wants at least every month.

This is getting frustrating. I didn't care when I was younger because I was lazy. Now I'm getting worried how he doesn't see or care he's in trouble.

He jumps from one thing to another. It's included pro football player, competitive world of warcraft player, brain surgeon, cultivating marijuana, opening a cannabis dispensary, building a business from his home brewing experimentation, popular youtuber, professional "pickup artist" coach, Hollywood director, making a crypto currency like bitcoin, NSA hacker, storm chaser, ranching cattle out west, and currently he's into becoming a professional clown.

He refuses to have a boss. Or start at any sort of entry or beginner level. Whatever he's into at any time, he's imagining immediately being the best, on his own, at the top. Eventually when he's forced to realize how much work it'd take to get there, he drops it and picks up another idea to obsess over until the same thing happens.

I explain all this, and he just says that because he's creative he can't be constrained or it will "kill his soul." Says he'd rather be poor and homeless because at least he'd still have his freedom. He also said I'm unsupportive but I've helped him make his resume as appealing as possible, sent him dozens of job postings he's eligible for, and he blows them all off. He won't do anything he doesn't have passion for. But the passion disappears as soon as he realizes it's not even possible to do.

I'm tired of this. How do I get him to see he needs to suck it up and get something, anything, that will let him stop having to constantly borrow money he can never pay back?

# ¿ Nov 21, 2018 16:14

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Droo posted:

This is a constant theme in like 20% of reddit relationship posts - some 30 year old starts dating an 18 year old girl, and over time the girl matures into an adult and then can't figure out why the 30 year old going out with high school girls turns out to be a huge loser after all

My favorite part out of all of that is that he wants to start training for the NFL, so he can get drafted next season and start his professional football career at 32 or 33.

Brett Favre has inspired a generation.

# ¿ Nov 21, 2018 16:29

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Braco is very GWM, but everyone that goes to him in insanely BWM.

quote:

"Gazing" Faith Healer Earns $1.2 Million From 5-Minute Mass Staring Sessions

quote:

Braco, sometimes called "the Gazer" is a visual healer. He does not touch, speak to, diagnose, or treat the people who come to see him � rather, he stands on a platform and gazes. Braco initially saw people one on one, however, due to the large number of people who started coming to see him, he began gazing at groups.

At public events, Braco stands on a podium following a ten minute period of introduction and silently looks at the members of the audience for a period of five to ten minutes. Afterwards, during a period called "meditation and reflection" by supporters, believers have claimed to experience life changes, healings and positive experiences. During the "gaze time" they feel tingling, see energy or a golden aura, or experience peace or relief from pain.

Participants and event organizers claim that his gaze has cured physical diseases such as cancer and respiratory disease. Believers claim Braco's physical presence is not necessary, and gazing at a picture or video of him can be sufficient for healing. However, Braco's gaze increases in strength the closer participants are to him.

https://www.braco.me/en/

You can buy a DVD of Braco staring at you for $25.

You can get a ticket to view a livestream of Braco's Gazing for between $8 and $75.

You can get a ticket to attend a mass gazing where you can see his gaze in person for between $25 and $185.

You can buy an audio CD of a Gazing session for $15. (What is on this CD?)

You can also view a trailer for one of his 38 DVDs of Gazing Sessions here for free:

https://www.youtube.com/watch?v=0ZGHsWXVq-Q

This is the face that people collectively paid $1.2 million to in exchange for being stared at for 5 minutes:

You better get in to see him soon:

quote:

Braco received the title 'World Ambassador of Peace and Light' at the World Conference on Peace and Light in Santo Domingo, Dominican Republic. This has skyrocketed the demand of the public to see him in person. To ensure that as many people as possible can attend, the prices for in-person events will be altered. Specific details to come.

Leon Trotsky 2012 fucked around with this message at 18:05 on Dec 31, 2018

# ¿ Dec 31, 2018 18:03

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

The people most interested in their credit scores and reducing taxes are almost always the people who need to worry about them the least.

This post is impressive because it contains multiple misunderstandings of taxes in just a single sentence.

https://www.reddit.com/r/personalfinance/comments/ab2tdr/its_almost_the_end_of_2018_are_there_any_yearend/

quote:

It�s almost the end of 2018. Are there any year-end last donations I can make to charities that will help me when it comes time to do my taxes next year?

No text.

Top comment:

quote:

if you like donating a dollar so you can avoid paying a quarter to the government, there are tons of charities that you can donate to.

but if you are good at math, you wont make those donations solely for tax purposes.

Post #1,298 detailing why you never cosign for a car.

Not only did he cosign, but he cosigned for a COWORKER that he had only known for a few months and thinks hiring someone to steal the car will get him off of the loan.

quote:

Friend co-signed a car lease for a colleague of his. Colleague is no longer paying, refuses to sell the car.

So to the best of my understanding, around a year ago, my buddy co-signed a car lease for an acquaintance of his. I believe it was for 4 years. The dude was making regular payments for around 6 months, but has since stopped making payments. The two have had a falling out, and the dude is being flaky/unresponsive to my buddy, and doesn't seem to want to resolve the situation. My buddy's credit score is obviously taking a hit, and we're trying to come up with options for how to solve this. There's still about 3 years left on the lease, for about $10-12k.

He does have the dude's address and knows where the car is. He's considered hiring a repo guy to take the car back, and then he will sell it private party (or back to the dealership) and pay off the remaining balance. Would this be legal?

If not, does he have any grounds to report the vehicle as stolen? Because apart from either of those two things being a possibility, my buddy is going to be making payments for the next 3 years while this jackass drives around in the car for free... but even after that, I doubt the dude would just turn the car back in at the end of the lease. So at that point, it would obviously be stolen??

https://www.reddit.com/r/personalfinance/comments/ab7co2/friend_cosigned_a_car_lease_for_a_colleague_of/

Leon Trotsky 2012 fucked around with this message at 21:10 on Dec 31, 2018

# ¿ Dec 31, 2018 20:54

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Someone at my office just got a 5-day unpaid suspension for next week because they were on their 6th (documented) warning about cutting their fingernails and toenails at their desk and leaving the trimmings for the cleaning staff to pick up.

Literally losing 25% of your monthly pay because you had been warned 6 times to stop leaving your nails on the desk and still did it anyway.

:cripes:

# ¿ Dec 31, 2018 21:23

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Krispy Wafer posted:

How are all of your co-workers essential employees of the government?

If anyone was getting an extended break, I thought it'd be your office.

The federal government is only partially shutdown. 75% of federal workers are still working.

# ¿ Dec 31, 2018 21:37

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# ¿ May 15, 2024 18:22

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Krispy Wafer posted:

From everything you've said about your office I assumed it was the most unessential of departments.

Now I'm frightened your co-workers may work on something important that I need.

There are a ton of low-level people who cycle in and out. A 26k per year salary with almost no chance of a raise doesn't entice people to stick around too long. I didn't directly know this person, but the HR lady just had to deal with it.

Some of my coworkers do work with important things, but many of them do admin, accounting, or clerical work for other people who do work on important things. This particular person did clerical work.

The vast vast majority of unessential departments are still open. Only 25% of the government is shutdown and some of that 25% are still coming into work, but not being paid. So, probably north of 80% of federal employees are still going to work next week.

My boss is one of the most BWM people I know, but she does her job well and is a lawyer. Lots of people (see: stereotypes about doctors and engineers) can be perfectly fine at their job, or even very skilled at a difficult job, but be absolutely terrible with money or other basic life skills.

Leon Trotsky 2012 fucked around with this message at 22:01 on Dec 31, 2018

# ¿ Dec 31, 2018 21:50

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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