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.

«‹›5 »

Inept: Jul 8, 2003

Bite sized BWM

Is there any "catch" to signing up for a BestBuy credit card in order to finance a Nintendo? posted:

I want the Nintendo Switch. I'd prefer paying for it in monthly installments instead of all at once. It looks like I can do that at Best Buy, but I have to get their credit card first. I will not be spending any money on that card. Is this a good idea? I don't know if the financing would be with interest or not.

# ¿ Nov 3, 2017 15:09

Adbot: ADBOT LOVES YOU

# ¿ May 15, 2024 03:29

Inept: Jul 8, 2003

This one is a bit of a rollercoaster.

https://www.reddit.com/r/personalfinance/comments/7aiuvo/impending_tax_bill/ posted:

I am in somewhat of a unique situation and hoping someone can help. I recently got married to my lovely wife ~6 months ago. I am not a very showy or flashy person and would have preferred a small, cheap ceremony, but everyone knows how that one goes. The wedding was quite extravagant and ended up costing ~$300,000. The wedding ended up being amazing though the cost of the wedding was a point of contention for months leading up to it and remains a touchy subject. My wife comes from a well off family and paid for almost the entire wedding.

My wife is extremely hands off about money and has no idea how much she has. When I�ve tried to inquire she doesn�t know how to even find out and her family is somewhat secretive about it. My father in law recently told us to be ready for a 10+k tax bill this year so I asked further and found out the wedding was financed by my wife selling off hundreds of thousands of dollars of stock. I had asked her whether we were spending her money or her parents money and she said her parents (she left out or didn�t know it was in her name). What freaked me out is when I asked her how much she sold said she didn�t know, but could be 2 or 300,000 of stock (@15% is 45k, almost half our combined salary)

My in laws previously had encouraged my wife not to even tell me that she even had a trust fund/money in her name which wasn�t exactly difficult for me to get out of her. My FIL wants us to use his accountant to just take care of it, when I asked him how much his accountant would cost he said he�s not sure since he�s never asked. I trust my wife dearly, she has always let her father take care of all her finances, which I just feel extremely uncomfortable doing.

Does anyone know the easiest way to predict capital gains tax? And whether any was withheld? Is there a form I can have her get from her financial advisor? I am obviously way over my head given the complexity and how in the dark I am about her financial situation. Thanks!

# ¿ Nov 3, 2017 18:42

Inept: Jul 8, 2003

Bird in a Blender posted:

I also can�t figure out what the hell she means by $25k in legitimate CC debt.

quote:

Not at all. I admit the credit card debt got away from me but it�s remained steady at that point for about 10 years. Most of it was accrued paying for our wedding.

10 years of credit card interest :eyepop:

# ¿ Nov 7, 2017 04:06

Inept: Jul 8, 2003

Haifisch posted:

Does Lowtax have a day job?

He makes youtube videos and has a patreon. I think that's it.

# ¿ Nov 9, 2017 03:52

Inept: Jul 8, 2003

Haifisch posted:

[US] Changing jobs and want to finally handle my messed up finances

Their replies:

quote:

I also signed a document that says I approve of them paying my salary in bitcoin and that if I want I have the option of just getting a regular paycheck in US dollars or even splitting my pay into both. But I haven't figured out exactly how much I want to take out each month so I just opted for full pay in bitcoin in the meantime.

quote:

Well based on your edit and also everyone else's comments, I will just opt for them to pay me with a regular check rather than bitcoin. My logic was that I could have some of my salary in bitcoin as an investment, but I'm Mr. Irresponsible & Bad With Money so I guess that logic was flawed.

It's amazing how much stupid poo poo people are just barely talked out of doing.

# ¿ Nov 9, 2017 19:30

Inept: Jul 8, 2003

BEHOLD: MY CAPE posted:

https://www.washingtonpost.com/busi...9c65_story.html

Oh yeah here we go, give us that good stuff you loving HENRYs:

But they don't consider themselves to be high earners, they're living paycheck to paycheck. LENNYs

Low Earner Net Negative Yearly

# ¿ Nov 10, 2017 14:33

Inept: Jul 8, 2003

rotaryfun posted:

Yes, lets get mad at a welfare system in place instead of the lovely parent that can't take care of their sick child of which we no nothing about the steps she's gone through or not to get aid.

quote:

The son is getting medical attention. He does get Medicare.

To get actual disability money for him though last time she applied she needed proof of care for 6 seizures in 6 months in order to get approval for cmv. Most of the time his seizures don't require medical care(it's over in 2 or 3 minutes, give him some Tylenol, keep him cool, have him lay down and relax and he'll be fine). As a result he she didn't have proof of medical care and got denied.

Nah you can blame the system

# ¿ Nov 14, 2017 19:52

Inept: Jul 8, 2003

rotaryfun posted:

You can still go to the hospital when it happens. That creates paperwork. Paperwork is proof of medical care. I don't understand the hard stop here.

Or instead of having their dumb rigid system that wastes even more money with unnecessary care that will likely stress out the child and mother, they could talk to the kid's doctors and figure out that the problem is legitimate. Yeah she should jump through the bullshit hoops to get money, but saying she's a lovely parent is really callous.

# ¿ Nov 14, 2017 20:08

Inept: Jul 8, 2003

rotaryfun posted:

what you are saying does already happen.

Sounds like it didn't happen for her. Again, system's fault if it went as she said. Not her being a lovely parent.

# ¿ Nov 14, 2017 20:23

Inept: Jul 8, 2003

rotaryfun posted:

It can't happen if you give your kid Tylenol and wait for them to cool down instead of going to the hospital... is all my point is.

And my point is that if the doctors can confirm the kid has regular seizures then making them go to the hospital is a waste of time.

# ¿ Nov 14, 2017 20:27

Inept: Jul 8, 2003

Panfilo posted:

I just gotta wonder if perhaps a person that managed to rack up 4 student loans with nothing to show for it might not be making all the best decisions for their child's care.

jesus christ

# ¿ Nov 14, 2017 20:29

Inept: Jul 8, 2003

rotaryfun posted:

How I spend my free time matters how in this context?

Because you view taking your kid to the hospital for seizures like a fetch quest in an MMO

# ¿ Nov 14, 2017 21:55

Inept: Jul 8, 2003

My boss, who is always complaining about money issues and lives paycheck to paycheck, just bought 2 iPhone Xs. One for him, one for his wife. $2700 because he also got AppleCare

# ¿ Nov 17, 2017 04:11

Inept: Jul 8, 2003

It makes hiding their complete lack of actual money easier because it's another layer of obfuscation.

# ¿ Nov 22, 2017 20:21

Inept: Jul 8, 2003

OctaviusBeaver posted:

https://www.reddit.com/r/personalfinance/comments/7fmucy/terrified_over_sons_astronomical_student_loan/

Then later:

Almost $200k in loans for an unfinished degree in "game art". I feel bad for the mom but how can you be that oblivious to the fact that you're putting your name on a loan for 5 times your annual income?

Posts like this make me sad that the justice department is probably no longer going to go after scummy for-profit colleges that pressure people into signing up because admissions people were/are paid on commission and lie like crazy. Yeah yeah, personal responsibility they signed up for this. Whatever.

# ¿ Nov 27, 2017 04:41

Inept: Jul 8, 2003

April posted:

At their income level, it shouldn't be a problem. The fact that they are so broke with a 130k income speaks to a LOT of bad choices. Not to mention, her poor dad, who would probably like to retire at some point, but has to keep subsidizing her "oopsies!"

I'm guessing her dad subsidizing her oopsies early in life is what caused them to continue.

# ¿ Nov 28, 2017 01:03

Inept: Jul 8, 2003

Motronic posted:

I'll apologize in advance again....but god drat that sounds like an awful way to raise a child.

Why do you think people are always complaining about the lovely maternity leave in the U.S.?

# ¿ Nov 28, 2017 03:37

Inept: Jul 8, 2003

Krispy Wafer posted:

I purchased a couple of their shirts off Amazon and while they were altright

That's how I read that the first time, stupid polo shirt wearing nazis

# ¿ Nov 30, 2017 18:24

Inept: Jul 8, 2003

https://www.reddit.com/r/personalfinance/comments/7j15lr/starting_back_college_at_30_years_old_next/[/quote posted:

My grandmother unfortunately passed and left me an inheritance of $30,000. Full tuition to graduate with what I have left (91 hours) is $27,000. Figure I just use that inheritance for just that and get "free" tuition. But....should I look into buying a house as well? I'm stuck here for another 3 years

quote:

I am confident that I'll be making $60k at the least walking off of that podium in 3 years in that field as that is generally the entry level pay. Nightmare scenario is $50k, but that's still more than I make now ($35k-$40k). So, I'm not messed up about taking out max student loans as I go. I view it as an investment into my future.

The pull to try to buy a house sure is strong for a lot of people.

# ¿ Dec 11, 2017 20:32

Inept: Jul 8, 2003

Cicero posted:

Honestly, in places with reasonably priced homes I can see the appeal. Stability and the freedom to do whatever the gently caress you want.

Did I mention he's going to school in central Arkansas?

# ¿ Dec 11, 2017 21:16

Inept: Jul 8, 2003

Mezzanon posted:

loving lol that this 17 year old has a job that pays literally twice as much per hour than the shameful 21 year old with 23 grand in debt.

She makes $20/hour working in a horse barn. I guarantee it's a family friend overpaying her, because no one pays 17 year-olds $20 for any kind of work unless their name is Roy Moore.

# ¿ Dec 12, 2017 20:46

Inept: Jul 8, 2003

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/7je5ot/my_debt_situation_is_killing_my_girlfriend_and_i/

BWM: Taking out a $44,000 loan at 12% to get a $7,500 tax credit.

Ahahaha in the comments he says he drives for Uber and was spending $500 a month on gas with his Chevy Cruz, and his girlfriend's Mom's electricity is free, so he's obviously good with money there.

# ¿ Dec 13, 2017 17:19

Inept: Jul 8, 2003

Stop talking about yourselves you boring assholes!

https://www.reddit.com/r/personalfinance/comments/7jfire/how_much_interest_would_i_be_paying_on_a_15335/ posted:

How much interest would I be paying on a 15,335 loan at 10.99 apr over 60 months? Also, is this APR high? Any banks you would recommend that would offer lower rates?

Unsecured personal loan for personal reasons, this time of year always hits me hard - property taxes, mix in a new baby as well as Christmas; and BAM right in the kisser

BAM right in the kisser

Also

quote:

I make 6 figures, but I�ve made stupid decisions in the past and have a couple other loans out as well, and a home loan. I imagine having that much out there doesn�t help

Inept fucked around with this message at 20:51 on Dec 13, 2017

# ¿ Dec 13, 2017 20:45

Inept: Jul 8, 2003

quote:

But why should people get away with far-left or left nonsense without being challenged? I would argue

This isn't D&D, shut up

https://www.reddit.com/r/personalfinance/comments/7jlrhb/keep_maxing_out_my_credit_cards_and_need_a_higher/ posted:

Keep maxing out my credit cards and need a higher limit. Advice?

I have three cards, $1K, $2.5K, and $8K. The latter two have the "best" rewards at 1.25% cash back and 1% cash back respectively.

I run a small reselling/flipping business where my monthly turnover is ~20-30K/month. I have to transfer funds every few days to be able to keep buying more inventory.

All the banks keep saying to come back in a few months but by then things will (hopefully) just be busier.

Any tips? I'm in Ontario, Canada.

Yeah a flipping business using credit cards, that won't explode spectacularly.

# ¿ Dec 14, 2017 19:15

Inept: Jul 8, 2003

https://www.reddit.com/r/personalfinance/comments/7jolwm/what_should_we_do_boyfriend_is_in_debt_and_way/ posted:

What should we do? Boyfriend is in debt and way overextending us.

After discussing our goals as a couple we decided financially it makes sense for us to combine forces and join finances. We are both home owners and make $45-50k a year (I had bonuses this year so I am a little over 50k). I considered my boyfriend a financially responsible adult until I saw how much debt he�s in. $35k in student loans, $10k for his truck, and $5k for his boat. He has an $8k four wheeler that just sits in the barn that he recently payed off. I completely understand wanting to have nice things and men need their �toys� but he has no savings and is completely overextended each month. The only debt I have is my mortgage. My car and student loans were paid off this year. But now that we�ve consolidated my debt is his and vice versa.

So as I mentioned we are both homeowners. My home is our sole residence. His home is a small lake front cottage he bought for $77k and owes $72k. He renovated and repaired and its now appraised at $129k. We made a spread sheet of our debt to income with both houses and all of his student loans/other debts and it just makes sense to sell his cottage. We never go there and it�s just a pain to upkeep. He is 100% on board with this plan as now I think his eyes have been opened to how much debt he�s really in. When he sells the cottage he should make enough profit to take a big chunk out of his debt.

So my question is: 1. When we sell this cottage, which debt makes the most sense to clear first? I am thinking his student loans because they are 6% interest and his largest debt. However the boat is on a credit card that is 10% interest.

In the meantime before this house is sold how should we go about allotting money for the debts? Should we focus on paying off the boat since it�s a credit card and the smallest debt? Or should we just make minimum payments so we aren�t cash poor and can put more into savings?

Thanks!

I'm sure the boyfriend was on board with her helping to assume his debts.

# ¿ Dec 14, 2017 19:30

Inept: Jul 8, 2003

Elysium posted:

Guy's not even that bad off by BWM standards. If he can sell the cottage, he's basically debt free, and probably splitting a very low mortgage payment with the girlfriend. Sell the 4 wheeler (I'm assuming he "needs" the boat because he lives in an area where people do a lot of boating things, or obviously he could get rid of that too) and restrain himself from buying expensive toys and he'll be set to start saving for the future.

In the comments she said they used the boat 5 times this year. If he can't resist buying a boat with a credit card, I doubt he's going to curb his toy habit. Selling the cottage will bail him out, but if they hadn't moved in together, this guy would be much worse off. Best case, he takes out a home equity loan to pay off his boat.

# ¿ Dec 14, 2017 19:45

Inept: Jul 8, 2003

Moneyball posted:

Why must you make my job harder? Post about BWM

He's been probated in various versions of the BWM thread about 10 times now. He's not going to stop.

https://www.reddit.com/r/personalfinance/comments/7jnp7n/can_i_write_off_my_movie_passmovie_tickets_as_an/ posted:

Can I write off my movie pass/movie tickets as an expense if I work for a film company?

Can I write it off as "research" when it comes to tax season? If so, can I simply provide a bank statement with the billing info?

Help, can I commit tax fraud to save $37???

# ¿ Dec 14, 2017 19:54

Inept: Jul 8, 2003

therobit posted:

The only thing I take issue with is using a credit card instead of secured financing for his boat. He paid off his 4 wheeler, the car and educational debt are well within normal bounds, and the lake house is cheap and will probably continue to appreciate. If he can afford to service the debt, which it sounds like he can since he just paid off the atv, he is gonna be fine. Just because some goons would rather sabe or party with whatever extra income they have does not mean he is bad with money for buying a couple toys.

Also, 10% isn't THAT much worse than normal toy loan financing, especially if it is an older boat that might not finance.

She says in the comments that he can't afford to service the things he has.

quote:

The reason he wants to sell the house is because he is overwhelmed with bills each month and our ultimate goal is to have another child and build our own house together. Daycare cost $1k a month and right now there is absolutely no way we could afford that with the $600 mortgage, $100 minimum boat payment, $200 truck payment, and $350 a month in student loans. His 401k is turned off and he doesn�t have a savings.

# ¿ Dec 14, 2017 20:38

Inept: Jul 8, 2003

quote:

UPS refunded the $32 it charged Hebert to ship the bank draft. UPS also sent him a letter apologizing, "for any inconvenience."

lol sorry, bye

A wire transfer would have cost less money than the shipment as well. I wonder why no one at the bank suggested that.

# ¿ Dec 14, 2017 22:26

Inept: Jul 8, 2003

John Smith posted:

Because the mods do not practice the censorship policy evenly. Remarks that are considerably left, or even far-left, are often allowed. Whereas right and far-right remarks are suppressed more strictly.

John Smith posted:

Just to clarify, I 100% believe in victim blaming for rape and sky diving as well. Not joking.

I am ok with far-right remarks such as this getting suppressed. gently caress off.

# ¿ Dec 15, 2017 13:42

Inept: Jul 8, 2003

Youth Decay posted:

loving Visa is setting up a pyramid scheme now.

Their APR and fees are strangely absent! Must have been an oversight.

# ¿ Dec 27, 2017 02:29

Inept: Jul 8, 2003

quote:

I suppose that could be an option. He wants to do the Lyft car rental program though, because his current car is too old to be used for Lyft. So, if I�m understanding the car leasing thing correctly, if he commits to it he has to really commit to it.

From the comments. He seems like a really nice anchor.

# ¿ Jan 2, 2018 20:24

Inept: Jul 8, 2003

Phanatic posted:

2% of the revenue the IRS collects each year comes from enforcement actions.

Isn't that a lot of loving money though?

# ¿ Jan 3, 2018 20:49

Inept: Jul 8, 2003

Rick Rickshaw posted:

Is this not the place you come to say the things you would never say in real life?

Read the OP. Talking about yourself is prohibited because anyone who does it tends to humblebrag about poo poo no one cares about, so you're not alone there.

I have a ton of debt! I also have crypto!

https://www.reddit.com/r/personalfinance/comments/7nmydy/9k_in_cc_debt_38k_student_loans_68k_parent_plus/ posted:

$9k in CC debt, $38k Student Loans, $6.8k Parent Plus Loan, $10k Car Loan and just got a windfall, but need some help deciding what to do.

As the post states, I have a bit of a windfall. I have an $8,000 bonus headed my way along with my first pay check ($2,300 for two weeks after taxes), my last pay check from another employer ($1,815 after taxes), and a PTO check from my last employer (~$1,000) after taxes.

Also, if anyone knows what my tax liability would be on the bonus or has a resource for that, I would appreciate it!

Expenses: $525 Rent $100 util $25 cable/internet $130 phone $125 car insurance $195 CC $89 parent loan $229 student loan $400 for food $150 gas

Assets * $15k Car * $1k Savings * $1k Musical Instrument (don't need this anymore but it is a family heirloom) * $1k in crypto

Liabilities

*$6,700 AMEX CC at 18% *$2,300 VISA CC at 0% until November then 18% *$10,000 car loan at 4% *$6,800 parent plus loan at 7% *$38k student loan at 3.5%

# ¿ Jan 4, 2018 01:43

Inept: Jul 8, 2003

Rick Rickshaw posted:

This would be a bad idea. But maybe not in a way you might think.

People gave me poo poo about the earlier in the thread, but ultimately my view is that people don't have free will. All of our actions are derived from some combination of genetics and environment.

So as far as spending goes, some people's genetics and/or environment breed them to spend all of their money. They can't help it. It's literally a physical compulsion, rather than a logical decision.

How long until you start going into detail about your thoughts eugenics

# ¿ Jan 4, 2018 19:19

Inept: Jul 8, 2003

Also from the $460k judgment post

quote:

We are locked into a lease for another 3 years on the house, and most things really can't be cut anymore than they are without significant impact to our credit scores.

I can't say I've ever heard of a home lease for that long before.

Judgment: Guillotine.

# ¿ Jan 4, 2018 20:08

Inept: Jul 8, 2003

Barry posted:

I love incredibly smug this threads denizens will get as soon as someone posts about something they don't approve of

My friend, we are on somethingawful.com laughing about a grown person who signed a Funkopop purchasing contract with their spouse. This is the kind of stuff I joined SA for.

# ¿ Jan 19, 2018 04:10

Inept: Jul 8, 2003

greazeball posted:

He sends us an updated spreadsheet that the will references every year and his financial adviser/estate manager knows the details of the loans, the will and his intentions.

So everyone gets to see how much their siblings withdrew from the bank of dad?

# ¿ Jan 22, 2018 14:50

Inept: Jul 8, 2003

greazeball posted:

We already know she's been hitting him up for the last 4-5 years and one of the conditions of her continuing to get the support was that he would share the documentation with the rest of us. There was a point earlier this year when she was gonna lose her place without another big injection and that's when he got her to agree to the new conditions.

Your dad is enabling the poo poo out of your sister, but I guess he can justify it to himself and everyone else with calling it inheritance.

# ¿ Jan 22, 2018 15:43

Adbot: ADBOT LOVES YOU

# ¿ May 15, 2024 03:29

Inept: Jul 8, 2003

Krispy Wafer posted:

Probably, but the problem with pensions is that you're tied to one job for life.

Nah, once you're vested, you can just get another job somewhere else and you'll still get a pension payout. It won't be as high as if you stayed for 40 years, but that's true of companies with 401(k) matching as well.

# ¿ Jan 25, 2018 14:50

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

«‹›5 »