Author Topic: Overheard at Work  (Read 8446928 times)

Daleth

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Re: Overheard at Work
« Reply #1300 on: January 04, 2014, 10:10:45 AM »
some of these stories are really sad. I live in NY and we pay humongous public school taxes. But my kids had a mandatory class in their senior year of high school that may have made my tax bill worth it all on its own. The class taught basic money management skills. Among other things, my daughter was taught that credit card debt is evil, and my son was really impressed with a chart showing how if he started saving early (he was 16 at the time), how much better he'd do than waiting until later to save, and he started a ROTH IRA. They aren't perfect with money, but at least they have SOME idea how to manage and budget (and I nag a lot about it too).

That's fantastic! Everyone should have such a class in their schools!

Zamboni

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Re: Overheard at Work
« Reply #1301 on: January 04, 2014, 10:34:19 AM »
$70K for a new car? Good grief, that's so sad.  My last car cost just 5% of that, paid in cash with no loan, and I do NOT live with my parents.  If my kids ever do that (live with me and buy a $70K new car), then they will drive right back to the car dealership to give the keys back or find their own place to live.

Quote
"Budgets are for poor people"

 . . . and for Fortune 500 companies.

Here's one that I've heard a couple of times over lunch from two guys who were complaining about the rising cost of college and how they will need massive financial aid or their kids will be out of luck. 
Me: "Well you have lots of time if you start now, so you could also open up a 529 plan and you'll have 10 years to save.  That's what I did.  Even if you only put in $100 a month it would add up and help."
CW1: "You should not invest in 529 plans because you don't know if your kids will even want to go to college."
CW2: "Yeah, it's much better to have other types of investments.  I would never open one of those."
Me:  . . . (silently take a bite of the sandwich I brought from home.)

Ummm, okay, I'll buy that viewpoint about more flexible investments to some extent.  But weren't we talking about paying for college?

CW1 complains about his small apartment and laments that he will never even be able to save up enough to buy a house-which is unfathomable to me since I know what we all make which is plenty to buy a house.  Neither of them have ANY investments at all other than what our employer is putting in their retirement funds (in our case they just put in and employees don't have to ante up to get the employer contribution.)  Both sometimes complain about being buried in credit card debt and CW2 has admitted he has less than 2K saved otherwise; considerably less than his credit card debt. 

Mostly when financial talk comes around I just let them commiserate and keep my ideas to myself.  Because really they are just justifying that they don't save for college by blasting the particular investment mechanism as unwise.  I'm not sure how they justify their overall lack of saving while they meanwhile spend money on all sorts of frivolous shit (fancy resort trips, tablets/ipads for everyone in the family, gaming systems, etc.)

Ed Mills

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Re: Overheard at Work
« Reply #1302 on: January 04, 2014, 12:22:59 PM »
Thanks guys, I just read all of these stories and now want to jump off a building!  The range of human behavior is fascinating...

Weestashian

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Re: Overheard at Work
« Reply #1303 on: January 04, 2014, 05:50:14 PM »
Having cats put down so you can live in a nice flat is so sad.  I think a person would have to be a psychopath to be so ruthless.

Agreed, that is seriously sick. I easily spent an extra month looking for an apartment that allowed pets, and I paid an extra damage deposit. The whole ordeal cost me over 1.5k after all the time spent in a motel*, and putting them down still never occurred to me. I didn't even want to give them to a shelter, I love them way to much. Furbabies are family, not toys to dispose of as needed!

What's the point of even having pets if you care about them so little?

(*I had an apartment picked out online, had called the building manager and talked about renting the apartment, and we had agreed to meet the day I got there to sign the lease. When I was in the lobby I met another tenant, and it turned out there was a huge bedbug infestation that the building owners were refusing to do anything about.)

Abe

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Re: Overheard at Work
« Reply #1304 on: January 04, 2014, 07:11:26 PM »
I'm not sure how they justify their overall lack of saving while they meanwhile spend money on all sorts of frivolous shit (fancy resort trips, tablets/ipads for everyone in the family, gaming systems, etc.)

Because they expect the tab to be picked up by people who did save appropriately. When this is not enough to continue their extravagant spending in retirement, they will then complain about how those same people should be taxed on their savings. Median savings in people approaching retirement in US is about $100k. I am guessing it's going to be a mess, and we'll end up paying for it.  <done with rant>

AlmostIndependent

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Re: Overheard at Work
« Reply #1305 on: January 04, 2014, 08:23:42 PM »
I'm not sure how they justify their overall lack of saving while they meanwhile spend money on all sorts of frivolous shit (fancy resort trips, tablets/ipads for everyone in the family, gaming systems, etc.)

Because they expect the tab to be picked up by people who did save appropriately. When this is not enough to continue their extravagant spending in retirement, they will then complain about how those same people should be taxed on their savings. Median savings in people approaching retirement in US is about $100k. I am guessing it's going to be a mess, and we'll end up paying for it.  <done with rant>

I would be willing to bet that the vast majority don't expect anything. I bet the thought that they will need to pay for retirement hasn't even crossed their mind.

voidmain

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Re: Overheard at Work
« Reply #1306 on: January 05, 2014, 01:12:26 PM »
I've got a different type of situation, but still shameful and thus worthy of this thread I think:

One of my coworkers, who makes at least $100k and doesn't live too lavishly (single, no mortgage, has roommates), has told me that he doesn't really do any investing because he "doesn't want to think about it" and "wants someone else to figure it out for him." He doesn't take advantage of any tax-advantaged options (our 401k doesn't match, but its still worth it for the tax savings) or do any real taxable investing, so he is probably piling up $2k+/month in his bank account earning <1% interest during a year where the S&P 500 was up nearly 30%. And this doesn't seem to bother him (!?!?)

calcsam

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Re: Overheard at Work
« Reply #1307 on: January 05, 2014, 09:46:18 PM »
@voidmain -- I bet you could put it into an index mutual fund for 20mins on the computer. Alternately, say you'll manage his money in return for 20% of the difference between what he would make in the savings account, then repeat above :)

Reepekg

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Re: Overheard at Work
« Reply #1308 on: January 05, 2014, 10:35:19 PM »
he doesn't really do any investing because he "doesn't want to think about it" and "wants someone else to figure it out for him."

Seriously. I can be that someone else... for a cut.

kittenstache

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Re: Overheard at Work
« Reply #1309 on: January 06, 2014, 10:48:28 AM »
Never ending financial stupidity from my co-workers:

Eating out EVERYDAY at lunch! Hello, you make $11 per hour and you spent more than that on fast food! Plus, you're overweight and constantly bitching how you need to lose weight!

Paycheck-to-paycheck employee (a single mother of 3 who says she has no savings, no credit, and will "work until I die") spends $600 on concert tickets for her daughter, "since she really likes One Direction"!

Another employee who constantly says she 's "poor", finances a massive new pick-up truck, which she uses to drive to and from work and haul her kids around.

I could go on. I have tried to make subtle suggestions to my co-workers about their spendy ways, but I just get a lot of flack. "You make a lot more money than most of us (which is true) and you don't have kids (which is also true), so you don't know how hard it is!"

AlmostIndependent

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Re: Overheard at Work
« Reply #1310 on: January 06, 2014, 02:51:07 PM »
I have tried to make subtle suggestions to my co-workers about their spendy ways, but I just get a lot of flack. "You make a lot more money than most of us (which is true) and you don't have kids (which is also true), so you don't know how hard it is!"

I get that all the time. "You don't have a wife and kids, of course you have plenty of money."

Rural

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Re: Overheard at Work
« Reply #1311 on: January 06, 2014, 11:39:19 PM »
I've got one, literally overheard as I was walking past an office: "We got paid two weeks early, so I'll run out of money two weeks early."

We get the same amount every month. It's true, last month we were paid in mid-December, but I can't imagine this coworker was unable to anticipate that there would be ~ four weeks in the month of January...

HappierAtHome

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Re: Overheard at Work
« Reply #1312 on: January 06, 2014, 11:44:23 PM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

Tempe

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Re: Overheard at Work
« Reply #1313 on: January 06, 2014, 11:51:43 PM »
Coworker - I'm having trouble making my rent, it's 2000$ and about to go higher with heating costs. Me- I only make 2000$ a month... o.O

Bruised_Pepper

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Re: Overheard at Work
« Reply #1314 on: January 06, 2014, 11:58:37 PM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

That's not so bad if the new strategy is "not buy any lotto tickets."  However, my Peppy-Sense is telling me that it wasn't. 

HappierAtHome

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Re: Overheard at Work
« Reply #1315 on: January 07, 2014, 12:27:10 AM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

That's not so bad if the new strategy is "not buy any lotto tickets."  However, my Peppy-Sense is telling me that it wasn't. 

He's just told me that he's buying more tickets this year "because he really wants to get rich".

Bruised_Pepper

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Re: Overheard at Work
« Reply #1316 on: January 07, 2014, 12:34:21 AM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

That's not so bad if the new strategy is "not buy any lotto tickets."  However, my Peppy-Sense is telling me that it wasn't. 

He's just told me that he's buying more tickets this year "because he really wants to get rich".

"How to Get Rich"
by Your Coworker

1) Throw your money away
2) Repeat every week
3) If desired results are not achieved, repeat every day
DONE

HappierAtHome

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Re: Overheard at Work
« Reply #1317 on: January 07, 2014, 01:12:12 AM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

That's not so bad if the new strategy is "not buy any lotto tickets."  However, my Peppy-Sense is telling me that it wasn't. 

He's just told me that he's buying more tickets this year "because he really wants to get rich".

"How to Get Rich"
by Your Coworker

1) Throw your money away
2) Repeat every week
3) If desired results are not achieved, repeat every day
DONE

That is the strategy of all my coworkers, friends and family, except some of my in-laws (and, thank god, my partner).

Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because I bet you have the space on your credit card now, but after you have kids all your cards will be maxed out and you won't be able to buy one.

Anatidae V

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Re: Overheard at Work
« Reply #1318 on: January 07, 2014, 01:28:22 AM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

That's not so bad if the new strategy is "not buy any lotto tickets."  However, my Peppy-Sense is telling me that it wasn't. 

He's just told me that he's buying more tickets this year "because he really wants to get rich".

"How to Get Rich"
by Your Coworker

1) Throw your money away
2) Repeat every week
3) If desired results are not achieved, repeat every day
DONE

That is the strategy of all my coworkers, friends and family, except some of my in-laws (and, thank god, my partner).

Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because I bet you have the space on your credit card now, but after you have kids all your cards will be maxed out and you won't be able to buy one.
That is a fascinating and quite concerning misunderstanding on their part of how credit cards work.

lithy

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Re: Overheard at Work
« Reply #1319 on: January 07, 2014, 08:52:47 AM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

Doesn't he know he should keep playing the same numbers, then every time they don't pick his numbers, his odds will get better!

I bet he won't even have to play for 20 more years to win once!

;)

Half-Borg

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Re: Overheard at Work
« Reply #1320 on: January 07, 2014, 09:57:24 AM »
it is very common the win the lottery, I myself know at least 3 people who did win like 17 bucks on several occasions!

AlmostIndependent

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Re: Overheard at Work
« Reply #1321 on: January 07, 2014, 01:37:02 PM »
it is very common the win the lottery, I myself know at least 3 people who did win like 17 bucks on several occasions!

I won my $1 back once. *prepares for facepunch for buying in the first place*

Insanity

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Re: Overheard at Work
« Reply #1322 on: January 07, 2014, 01:45:17 PM »
There is nothing wrong with the lottery as long as it:
1) Is not impacting your FI
2) You are really not depending on it for your retirement (I joke about it, but the reality is that I am not)

Jamesqf

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Re: Overheard at Work
« Reply #1323 on: January 07, 2014, 01:53:49 PM »
Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because...

I might understand that better if I had the slightest effing clue as to what a thermomix was. 

See, ignorance can not only be bliss, but can lead one into inadvertent mustachianism :-)

CommonCents

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Re: Overheard at Work
« Reply #1324 on: January 07, 2014, 02:09:26 PM »
it is very common the win the lottery, I myself know at least 3 people who did win like 17 bucks on several occasions!

I won my $1 back once. *prepares for facepunch for buying in the first place*

Make it 5 people!  I played twice, buying two tickets each time and won once (which paid $4, covering both tickets that time I think).

The Bearded Bank Builder

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Re: Overheard at Work
« Reply #1325 on: January 07, 2014, 02:17:09 PM »
it is very common the win the lottery, I myself know at least 3 people who did win like 17 bucks on several occasions!

I won my $1 back once. *prepares for facepunch for buying in the first place*

My wife and I give ourselves a $10 budget to get the other one christmas gifts, usually we get some really goofy from a gas-stop and/or homemade stuff. This year my wife got me two $5 scratchers, and I won $50! That will cover my x-mas gifts to her for the next 5 years ;)

kms

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Re: Overheard at Work
« Reply #1326 on: January 07, 2014, 02:50:06 PM »
I might understand that better if I had the slightest effing clue as to what a thermomix was.
It's a US $1000 uber-mixer with built-in scale, heater (methinks), and a tiny Swiss engineer. Friend of mine bought one and loves it, says it's much easier to cook now and he does it more often than before. There's tons of recipes/cooking books specifically written for the Thermomix.

Regarding the lottery: my parents won 10.000 bucks back when I was a kid. Sometimes good things do happen ;-)

dragoncar

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Re: Overheard at Work
« Reply #1327 on: January 07, 2014, 03:40:18 PM »
I might understand that better if I had the slightest effing clue as to what a thermomix was.
It's a US $1000 uber-mixer with built-in scale, heater (methinks), and a tiny Swiss engineer. Friend of mine bought one and loves it, says it's much easier to cook now and he does it more often than before. There's tons of recipes/cooking books specifically written for the Thermomix.

Regarding the lottery: my parents won 10.000 bucks back when I was a kid. Sometimes good things do happen ;-)

I kinda want one now after googling it.  It's like the opposite of a uni-tasker although I have doubts about its longevity (and the price point!)

Anatidae V

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Re: Overheard at Work
« Reply #1328 on: January 07, 2014, 05:15:41 PM »
I might understand that better if I had the slightest effing clue as to what a thermomix was.
It's a US $1000 uber-mixer with built-in scale, heater (methinks), and a tiny Swiss engineer. Friend of mine bought one and loves it, says it's much easier to cook now and he does it more often than before. There's tons of recipes/cooking books specifically written for the Thermomix.

Regarding the lottery: my parents won 10.000 bucks back when I was a kid. Sometimes good things do happen ;-)

I kinda want one now after googling it.  It's like the opposite of a uni-tasker although I have doubts about its longevity (and the price point!)
They are at least $2000 australian.

HappierAtHome

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Re: Overheard at Work
« Reply #1329 on: January 07, 2014, 05:38:50 PM »
If I've inadvertently motivated Mustachians to buy an overpriced status item then I'm not going to be able to sleep tonight. Don't buy one! I was talked out of my temptation by Mustachians and they were RIGHT. Thermomixes = luxury bullshit.

Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

Doesn't he know he should keep playing the same numbers, then every time they don't pick his numbers, his odds will get better!

I bet he won't even have to play for 20 more years to win once!

;)

A different colleague explained this to me in the lift yesterday :-( there must have been a megadraw recently, everyone's obsessed with lotto in my workplace.

dragoncar

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Re: Overheard at Work
« Reply #1330 on: January 07, 2014, 06:05:56 PM »
If I've inadvertently motivated Mustachians to buy an overpriced status item then I'm not going to be able to sleep tonight. Don't buy one! I was talked out of my temptation by Mustachians and they were RIGHT. Thermomixes = luxury bullshit.


Well not at that price.  I was thinking three easy payments of $9.99 (I don't own a blender, crock pot, etc.)

Ohio Teacher

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Re: Overheard at Work
« Reply #1331 on: January 07, 2014, 06:12:16 PM »
A co-worker/friend of mine bought a second house for his brother to live.  He got it in a short sale for about $30K.  And... took out a 30-year mortgage.

Me: Why did you get a 30-year mortgage, especially since it's only $30K? 
Him: I want to always have the tax deduction.
Me: You know how deductions work, right?  You only save your marginal tax rate on that amount, which is 25%, but you've still lost the other 75% to the bank.  For 30 years.
Him: I just know I want to always have a mortgage for as long as I live.
Me: [mouth drops]

iris lily

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Re: Overheard at Work
« Reply #1332 on: January 07, 2014, 08:02:46 PM »

...
Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because I bet you have the space on your credit card now, but after you have kids all your cards will be maxed out and you won't be able to buy one.
that's funny, "space on your credit card" is a new way to think of credit card debt.

mlipps

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Re: Overheard at Work
« Reply #1333 on: January 07, 2014, 08:10:30 PM »
A co-worker/friend of mine bought a second house for his brother to live.  He got it in a short sale for about $30K.  And... took out a 30-year mortgage.

Me: Why did you get a 30-year mortgage, especially since it's only $30K? 
Him: I want to always have the tax deduction.
Me: You know how deductions work, right?  You only save your marginal tax rate on that amount, which is 25%, but you've still lost the other 75% to the bank.  For 30 years.
Him: I just know I want to always have a mortgage for as long as I live.
Me: [mouth drops]

What an idiot. Unless he has tons of other itemized deductions, the interest on a $30k mortgage is never going to be even close enough to itemize, so he's not going to "save" a dime.

dragoncar

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Re: Overheard at Work
« Reply #1334 on: January 07, 2014, 09:15:27 PM »

...
Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because I bet you have the space on your credit card now, but after you have kids all your cards will be maxed out and you won't be able to buy one.
that's funny, "space on your credit card" is a new way to think of credit card debt.

That reminds me... I need to download some more ram to my mastercard

HappierAtHome

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Re: Overheard at Work
« Reply #1335 on: January 07, 2014, 10:12:16 PM »
Okay you're just going to think I'm making this up.

But somebody at work asked me if I decided to buy the thermomix.

I said no, I decided it wasn't worth the money right now.

She said that if I don't have space on my credit card I should call the bank and get the limit raised since we have such great salaries.

Am I being pranked??

This person supposedly has no knowledge of my previous conversation re: thermomix and credit card.

dragoncar

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Re: Overheard at Work
« Reply #1336 on: January 07, 2014, 10:32:10 PM »
Okay you're just going to think I'm making this up.

But somebody at work asked me if I decided to buy the thermomix.

I said no, I decided it wasn't worth the money right now.

She said that if I don't have space on my credit card I should call the bank and get the limit raised since we have such great salaries.

Am I being pranked??

This person supposedly has no knowledge of my previous conversation re: thermomix and credit card.

It sounds like one of your coworkers may be aware of your MMM activity... or Thermomix is a new hot trend sweeping the nation, and the infomercial mentions the "space on your credit card" bit

Zamboni

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Re: Overheard at Work
« Reply #1337 on: January 07, 2014, 10:59:06 PM »
I had college friends talk about buying something with the space on their credit card.  It's not a new concept. 

One friend told me she always just paid the minimum on her maxed out card.  She'd get just below the limit each month and then go to lunch and max it out again, or once in awhile they'd raise her limit so she'd celebrate by buying stereo equipment or something else to max it at the higher limit.  I did a quick calculation in my head and told her how much per year in interest her perpetually maxed out card was costing her.  She was aghast.  At least now they have a little box on the statement that explains it in terms people can more likely understand.

Melody

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Re: Overheard at Work
« Reply #1338 on: January 08, 2014, 03:39:24 AM »
At least now they have a little box on the statement that explains it in terms people can more likely understand.

So I'm guessing you're Australian too? If you are from Perth check out our Meetup thread.

grantmeaname

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Re: Overheard at Work
« Reply #1339 on: January 08, 2014, 05:09:51 AM »
At least now they have a little box on the statement that explains it in terms people can more likely understand.
So I'm guessing you're Australian too? If you are from Perth check out our Meetup thread.
The US got that sort of labeling for the first time after the financial crisis too.

Hunny156

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Re: Overheard at Work
« Reply #1340 on: January 08, 2014, 10:36:45 AM »
it is very common the win the lottery, I myself know at least 3 people who did win like 17 bucks on several occasions!

I won my $1 back once. *prepares for facepunch for buying in the first place*

Make it 5 people!  I played twice, buying two tickets each time and won once (which paid $4, covering both tickets that time I think).

My mother in law dropped a scratch off in a birthday card to me one year.  I "won" $2.  For a NY lottery ticket.  I live in TX.  I just mailed it back to her instead of going through the hassle of cashing in the prize from a different state....

dragoncar

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Re: Overheard at Work
« Reply #1341 on: January 08, 2014, 10:44:58 AM »
At least now they have a little box on the statement that explains it in terms people can more likely understand.
So I'm guessing you're Australian too? If you are from Perth check out our Meetup thread.
The US got that sort of labeling for the first time after the financial crisis too.

This really helped me explain it to a friend ... once I convinced him to actually read his statement instead of blindly paying the minimum online.

eyePod

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Re: Overheard at Work
« Reply #1342 on: January 08, 2014, 12:12:05 PM »
Coworker: I'm going to have to change my lotto ticket strategy this year, because I didn't win last year.

My wife and I each use $1 of our fun money when the lotto was really high a few weeks back.  She won $2 and I didn't win anything.  I said we can cash it in and keep it in a "lotto" fund for next time.  It's fun think of being instantly retired and being able to help so many people with that money!

eyePod

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Re: Overheard at Work
« Reply #1343 on: January 08, 2014, 12:16:27 PM »
"You make a lot more money than most of us (which is true) and you don't have kids (which is also true), so you don't know how hard it is!"

I haven't told anyone at work but my wife and I, have a kid and still had a savings rate of 43+% this past year (including 401k contributions, matches, gifts).  If you only want after tax, it's 30%.  And that's with basically one income (my wife's finishing up grad school).  People want their cable TV, huge cell phone plans, fancy new cars, but they don't want to realize that by getting those, they're making a trade-off on savings and their future.

eyePod

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Re: Overheard at Work
« Reply #1344 on: January 08, 2014, 12:19:03 PM »
Last one before I finish my coffee...

So this isn't my co-worker, but a really good friend.

Visiting their freshly bought house (which has two pretty new, non-paid off jeeps in the driveway) and we were talking about christmas gifts.  They had HUGE piles in one of their unfurnished rooms.  He dropped that they each were allowed $800 to spend on eachother!

My wife and I did $50! And I got an awesome new french press for work. 

It was nice to see that all the rest of our friends were equally shocked.  I mean, I know my wife and I are on the low end gift-wise (we're saving for a down payment), but cmon!

Eric

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Re: Overheard at Work
« Reply #1345 on: January 08, 2014, 12:35:02 PM »
"You make a lot more money than most of us (which is true) and you don't have kids (which is also true), so you don't know how hard it is!"

I haven't told anyone at work but my wife and I, have a kid

You could probably tell them you have a kid.  Coworkers like to hear about that stuff!  ;)

smalllife

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Re: Overheard at Work
« Reply #1346 on: January 08, 2014, 01:27:51 PM »
"You make a lot more money than most of us (which is true) and you don't have kids (which is also true), so you don't know how hard it is!"

I haven't told anyone at work but my wife and I, have a kid

You could probably tell them you have a kid.  Coworkers like to hear about that stuff!  ;)

Not everyone ;-)  But having someone to counter the "saving with a kid is so hard" whines wouldn't be a bad thing.

Jamesqf

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Re: Overheard at Work
« Reply #1347 on: January 08, 2014, 01:29:58 PM »
People want their cable TV, huge cell phone plans, fancy new cars...

Yeah, I have to admit that life is a heck of a lot easier when you really don't want all those things.

ritchie70

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Re: Overheard at Work
« Reply #1348 on: January 08, 2014, 04:32:22 PM »

...
Not overheard at work, but said directly to me at Christmas by a family member: you should buy a thermomix because I bet you have the space on your credit card now, but after you have kids all your cards will be maxed out and you won't be able to buy one.
that's funny, "space on your credit card" is a new way to think of credit card debt.

It's actually quite a common way to think about it among the financially unsophisticated. It's viewed as money they have just like cash in the bank.

infogoon

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Re: Overheard at Work
« Reply #1349 on: January 09, 2014, 10:24:51 AM »
It's actually quite a common way to think about it among the financially unsophisticated. It's viewed as money they have just like cash in the bank.

An old high school friend of my wife's had a charming habit of paying for things using the overdraft protection on her debit card -- there was nothing in the checking account, but you could still charge with it at some ridiculous interest rate.