Author Topic: Overheard at Work  (Read 8601357 times)

mustachepungoeshere

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Re: Overheard at Work
« Reply #16150 on: December 15, 2016, 12:05:12 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

mtn

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Re: Overheard at Work
« Reply #16151 on: December 15, 2016, 12:12:55 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

Meh--if she wears it a lot, regularly, then consider it money well spent--assuming (and probably a very bad assumption) that she only buys a dress like that every 10 years or so.

But I'm a dude who knows nothing of women's fashion--only that with clothes, the more I spend seems to directly correlate to the time I get out of them.

Penny McSave

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Re: Overheard at Work
« Reply #16152 on: December 15, 2016, 12:56:41 PM »
Unless it was ball gown worthy for a special event, I think $600 seems excessive for a black dress. I always thought the beauty of the little black dress was that it need not be expensive, just find a classic style that can be dressed up or down.

I found my perfect LBD at Marshall's for $10 (!)

mm1970

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Re: Overheard at Work
« Reply #16153 on: December 15, 2016, 01:53:50 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

Meh--if she wears it a lot, regularly, then consider it money well spent--assuming (and probably a very bad assumption) that she only buys a dress like that every 10 years or so.

But I'm a dude who knows nothing of women's fashion--only that with clothes, the more I spend seems to directly correlate to the time I get out of them.
I spent, I think, $90 or $100 on my "black dress" (only dress I own).  I wear it once a year (sometimes twice).  I'll be wearing it tomorrow, in fact.  I'd honestly have to go back in facebook time to remember when I first got it.  (Which Christmas party, ha!)  2009?  2010?  I missed a couple of post-baby years when it didn't fit though.

dragoncar

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Re: Overheard at Work
« Reply #16154 on: December 15, 2016, 01:56:53 PM »
I just borrow my wife's black dress.  Free to me

nawhite

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Re: Overheard at Work
« Reply #16155 on: December 15, 2016, 02:08:51 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"


MgoSam

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Re: Overheard at Work
« Reply #16156 on: December 15, 2016, 03:07:20 PM »
"if I ever get any money again, I'm going into real-estate, stocks are too scary for me"

A fool and his money are soon departed

dougules

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Re: Overheard at Work
« Reply #16157 on: December 15, 2016, 03:20:23 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"

Wow.  How old is he?

I hope he figures real estate out better than he did stocks.  At least leverage (ie. a mortgage) is a much more straightforward practice there.  Hopefully somebody will also clue him in that anything other than renting or flipping is not investing but just speculation. 

arebelspy

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Re: Overheard at Work
« Reply #16158 on: December 15, 2016, 03:24:38 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"
Those are all spaced almost exactly 8 years apart: 2000/2001, 2008/2009, 2016 (almost 2017).

I'm so curious where he'll be with retirement investments 8 years from now.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

ingrownstudentloans

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Re: Overheard at Work
« Reply #16159 on: December 15, 2016, 04:22:15 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

Those are all spaced almost exactly 8 years apart: 2000/2001, 2008/2009, 2016 (almost 2017).

I'm so curious where he'll be with retirement investments 8 years from now.

Keep us posted - I will play the opposite of whatever he is going into next!

shanghaiMMM

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Re: Overheard at Work
« Reply #16160 on: December 15, 2016, 04:45:55 PM »
CW1 - I only ever book 5* hotels. My last one was only $2500 for 9 days!

Which might not be so terrible until you consider the trip was to Cambodia, where accommodation can be much, much cheaper!

arebelspy

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Re: Overheard at Work
« Reply #16161 on: December 15, 2016, 05:15:17 PM »
CW1 - I only ever book 5* hotels. My last one was only $2500 for 9 days!

Which might not be so terrible until you consider the trip was to Cambodia, where accommodation can be much, much cheaper!
Wow.

We spent about $300 for lodging in Cambodia. For a month.  ($10/day.)

You could go cheaper, hostel style, but we wanted a private hotel room and private bathroom.

Had a fantastic time.

I can't imagine paying $2500 for nine days. If I had the choice of staying in the $10/day one we stayed at ($90 total for nine days) or the five star one (normally $2500 for nine days), but the five star one was discounted 90% so it only cost $250 for the nine days... I'd spend the $90 and save $160.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

gimp

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Re: Overheard at Work
« Reply #16162 on: December 15, 2016, 06:09:02 PM »
$2500 for 9 days

Cambodia

I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

firelight

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Re: Overheard at Work
« Reply #16163 on: December 15, 2016, 08:06:17 PM »
$2500 for 9 days

Cambodia

I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

BuffaloStache

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Re: Overheard at Work
« Reply #16164 on: December 15, 2016, 08:48:51 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

dragoncar

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Re: Overheard at Work
« Reply #16165 on: December 15, 2016, 10:00:39 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

arebelspy

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Re: Overheard at Work
« Reply #16166 on: December 15, 2016, 10:10:03 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

Speaking of which, your weekly protection money is due, DragonCar.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

DutchGirl

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Re: Overheard at Work
« Reply #16167 on: December 16, 2016, 12:37:34 AM »
Ooh, I've got a good one. Two, actually. From the same colleague (CW1), same lunch.

First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

Later, the conversation turns to the fact that local radio stations are (apparently) collecting food for the food bank.

CW3: Yes, every year I let each of my children donate 8 euros of food to the food bank, when they have these collections. I think that it teaches them about charity and how to donate. We go into the supermarket and for 8 euro they can pick whatever food they like to give. But if they for example take beans from (expensive brand), I always say to them: "Listen, you've got 8 euros, take the cheaper brand and then you can give more". That way, they also learn how to be smart about money.
CW1: I never understand how people can end up needing the food bank! I mean, we are all poor here ...
(Me, internally: Speak for yourself)
CW1: ... but we still manage to have our tummies full every night.
CW3: Well, for example, there was this 22 year old woman in the program, who had a child from a horrible relationship. She escaped that relationship (bla bla bla, sad story, and indeed, one way in which people can screw up their lives and maybe temporarily may need help to feed themself and their kid).
CW1: Yes, well, I still don't understand how people can't afford to feed themself. Now, time for a smoke.

(Me, internally: yes, you never would make any decisions that impact your future financial well-being nor health, right?)

PS. I'm not perfect either, and also don't always make the best decisions for my future. Chocolate is just too damn good. But at least I'm not claiming to not understand how other people can sometimes mess up, too...
« Last Edit: December 16, 2016, 12:50:26 AM by DutchGirl »

Playing with Fire UK

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Re: Overheard at Work
« Reply #16168 on: December 16, 2016, 01:11:51 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

dragoncar

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Re: Overheard at Work
« Reply #16169 on: December 16, 2016, 01:43:59 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16170 on: December 16, 2016, 01:58:52 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Interesting. Our 'bonuses' are more like the 13th month paycheck. We get more when the company is doing well and there is some degree of performance (excellent performers get more and some people get nothing), but I've never been able to link my work with my bonus. This may be why I have issues with my manager.

However when I got overtime pay I'd sometimes allocate some of the pay to 'buying' my time back, whether it was buying prepared food or something so that I could enjoy my time off more.

shanghaiMMM

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Re: Overheard at Work
« Reply #16171 on: December 16, 2016, 03:16:51 AM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

Speaking of which, your weekly protection money is due, DragonCar.

Ok good. I haven't been time Cambodia, but having been to other Asian countries, I thought it sounded crazy.

She justified it by saying it had free massages, drivers into town etc etc.

But yes, I'll talk to her after Christmas, I know she's going away again!

jinga nation

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Re: Overheard at Work
« Reply #16172 on: December 16, 2016, 06:28:07 AM »
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.
Amateur. You've got to play UWTI with DWTI simultaneously.

pancakes

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Re: Overheard at Work
« Reply #16173 on: December 16, 2016, 06:55:44 AM »
Co-worker has recently split with their partner and has a couple of kids.

They are struggling to work out budgeting after 20 odd years of marriage and shared expenses which is understandable. What I don't get is that they are struggling financially to manage and yet keep doing things like buying one of the kids a car or agreeing to pay for a birthday party for 100 guests with food and alcohol provided...

Even more staggering is they are making these decisions independently of the ex partner and then calculating how much the ex 'owes' for their share of the kids' expenses and getting annoyed about how unfair it is that the ex won't contribute.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16174 on: December 16, 2016, 07:47:18 AM »
Co-worker has recently split with their partner and has a couple of kids.

They are struggling to work out budgeting after 20 odd years of marriage and shared expenses which is understandable. What I don't get is that they are struggling financially to manage and yet keep doing things like buying one of the kids a car or agreeing to pay for a birthday party for 100 guests with food and alcohol provided...

Even more staggering is they are making these decisions independently of the ex partner and then calculating how much the ex 'owes' for their share of the kids' expenses and getting annoyed about how unfair it is that the ex won't contribute.

Wow, it sounds like they are trying to be the fun parent and it is backfiring horribly. I feel for them as they are having to learn how to budget (again?), while dealing with a separation; but buying a car before you have your new budget worked out is not good parenting.

MrMoogle

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Re: Overheard at Work
« Reply #16175 on: December 16, 2016, 01:09:49 PM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Interesting. Our 'bonuses' are more like the 13th month paycheck. We get more when the company is doing well and there is some degree of performance (excellent performers get more and some people get nothing), but I've never been able to link my work with my bonus. This may be why I have issues with my manager.

However when I got overtime pay I'd sometimes allocate some of the pay to 'buying' my time back, whether it was buying prepared food or something so that I could enjoy my time off more.
Now they can afford Christmas presents!

MgoSam

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Re: Overheard at Work
« Reply #16176 on: December 16, 2016, 01:28:08 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16177 on: December 16, 2016, 01:41:36 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

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Re: Overheard at Work
« Reply #16178 on: December 16, 2016, 02:05:23 PM »
Just talked to my colleague. We were discussing finance, investments, mortgage. And somehow my colleague mentioned her friend.
Her friend is from the family of 6 kids. His father was janitor, his mother - clerk. His father died like couple of years ago. Turned out he left millions in stocks. He was very frugal all his life and was investing all his life as well.

My colleague mentioned that his kids think that he did not have an opportunity to enjoy the life probably because he was so frugal and did not indulge his himself and his kids.

I told that this might not be the case. Frugal does not mean not happy.

Fascinating story! ))

stoaX

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Re: Overheard at Work
« Reply #16179 on: December 16, 2016, 03:06:35 PM »
Just talked to my colleague. We were discussing finance, investments, mortgage. And somehow my colleague mentioned her friend.
Her friend is from the family of 6 kids. His father was janitor, his mother - clerk. His father died like couple of years ago. Turned out he left millions in stocks. He was very frugal all his life and was investing all his life as well.

My colleague mentioned that his kids think that he did not have an opportunity to enjoy the life probably because he was so frugal and did not indulge his himself and his kids.

I told that this might not be the case. Frugal does not mean not happy.

Fascinating story! ))

Amen.  My fondest memories with my father were fishing on a lake, playing baseball in the park...all free or close to free stuff.  That's happiness.

arebelspy

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Re: Overheard at Work
« Reply #16180 on: December 16, 2016, 03:14:31 PM »
Ok good. I haven't been time Cambodia, but having been to other Asian countries, I thought it sounded crazy.

We've been to Malaysia, Cambodia, Thailand, Philippines, Indonesia.   (Though only very small parts of those, obviously.)

Cambodia was the cheapest of them, for both food and lodging.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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Megma

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Re: Overheard at Work
« Reply #16181 on: December 16, 2016, 08:01:39 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

We paid close to over 400/night for hotel rooms for a work event this year in Lagos, Nigeria. We regularly hold international events in developing countries and this was so high that we pushed back on the local organizing team's choice - they insisted this was the only/best choice as the hotel had the needed security. Pricy.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16182 on: December 17, 2016, 01:35:14 AM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

We paid close to over 400/night for hotel rooms for a work event this year in Lagos, Nigeria. We regularly hold international events in developing countries and this was so high that we pushed back on the local organizing team's choice - they insisted this was the only/best choice as the hotel had the needed security. Pricy.

Yes, same situation. I suspect that some of our local teams have agreements in place to recommend a specific hotel. I know that one of them gets their holiday party free at the hotel they recommend.

snorrie

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Re: Overheard at Work
« Reply #16183 on: December 18, 2016, 12:28:54 AM »
I work in a clothing boutique. My coworkers and I are expected to look well-dressed (thankfully we get clothing from the store - a very mustachian solution) and put together. I wear the minimum of make-up I can get away with and overheard the following:

CW1: It's such an amazing product! Our boss recommended it, so of course I had to try it!
CW2: I got it too, I'm wearing it now! (Could not see anything different from the other day)
CW1: Yes, the only trouble is, when I wore it daily, it ran out in about three weeks, so be careful!
CW2: Yes, better make it last, because 70euros every three weeks is a bit too much
ME: *goes to pick up jaw from floor*

This coming from a couple of people who earn retail wages and spend most of it on clothes from the store and breakfast/lunch.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16184 on: December 18, 2016, 12:40:52 AM »
I work in a clothing boutique. My coworkers and I are expected to look well-dressed (thankfully we get clothing from the store - a very mustachian solution) and put together. I wear the minimum of make-up I can get away with and overheard the following:

CW1: It's such an amazing product! Our boss recommended it, so of course I had to try it!
CW2: I got it too, I'm wearing it now! (Could not see anything different from the other day)
CW1: Yes, the only trouble is, when I wore it daily, it ran out in about three weeks, so be careful!
CW2: Yes, better make it last, because 70euros every three weeks is a bit too much
ME: *goes to pick up jaw from floor*

This coming from a couple of people who earn retail wages and spend most of it on clothes from the store and breakfast/lunch.

70 euro every three weeks "a bit" too much?!?!

littlelykke

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Re: Overheard at Work
« Reply #16185 on: December 18, 2016, 08:14:48 AM »
[...]
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

[...]

I have to admit that I also like the fact that I get paid a 13th month, instead of a slightly larger paycheck each month. This way it's much easier to not spend it 'accidentally'. It just makes sure that the extra payment goes straight to my mortgage. I know myself. Getting a bigger paycheck would definitely mean a higher savings rate. But some of it would get spend too...

Playing with Fire UK

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Re: Overheard at Work
« Reply #16186 on: December 18, 2016, 08:49:18 AM »
[...]
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

[...]

I have to admit that I also like the fact that I get paid a 13th month, instead of a slightly larger paycheck each month. This way it's much easier to not spend it 'accidentally'. It just makes sure that the extra payment goes straight to my mortgage. I know myself. Getting a bigger paycheck would definitely mean a higher savings rate. But some of it would get spend too...

Learning this sort of thing about yourself early has to be one of the most important financial and life lessons. Have you read 'Predictably Irrational'? It taught me some interesting things about myself.

JAYSLOL

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Re: Overheard at Work
« Reply #16187 on: December 18, 2016, 09:49:38 AM »
I earned a much bigger performance bonus this year, it really felt like extra money that I should do something special for myself with, so i invested it in low-fee index funds and increased my savings rate to a personal record level!  Pampering achieved!

With This Herring

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Re: Overheard at Work
« Reply #16188 on: December 18, 2016, 10:13:32 AM »
I earned a much bigger performance bonus this year, it really felt like extra money that I should do something special for myself with, so i invested it in low-fee index funds and increased my savings rate to a personal record level!  Pampering achieved!

What a great way to treat yourself!

infogoon

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Re: Overheard at Work
« Reply #16189 on: December 18, 2016, 10:17:48 AM »
Co-worker has recently split with their partner and has a couple of kids.

They are struggling to work out budgeting after 20 odd years of marriage and shared expenses which is understandable. What I don't get is that they are struggling financially to manage and yet keep doing things like buying one of the kids a car or agreeing to pay for a birthday party for 100 guests with food and alcohol provided...

Even more staggering is they are making these decisions independently of the ex partner and then calculating how much the ex 'owes' for their share of the kids' expenses and getting annoyed about how unfair it is that the ex won't contribute.

I used to work with a guy who would have these disputes periodically with his wife's ex-husband, the father of his stepsons. "I don't understand why he won't pay half for the boys' [insert long list of activities]".

Well, probably because 1. you don't ask him before you sign the boys up for expensive sports and other activities, and 2. because the guy works as a cook at a neighborhood pizza place while you and your wife are both white collar professionals earning significantly more money.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16190 on: December 18, 2016, 03:42:15 PM »
I earned a much bigger performance bonus this year, it really felt like extra money that I should do something special for myself with, so i invested it in low-fee index funds and increased my savings rate to a personal record level!  Pampering achieved!

Treat yo' self!

arebelspy

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Re: Overheard at Work
« Reply #16191 on: December 18, 2016, 04:02:14 PM »
I earned a much bigger performance bonus this year, it really felt like extra money that I should do something special for myself with, so i invested it in low-fee index funds and increased my savings rate to a personal record level!  Pampering achieved!

Treat yo' self!

I loved everything about both of these comments.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

nnls

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Re: Overheard at Work
« Reply #16192 on: December 18, 2016, 06:55:32 PM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

mustachepungoeshere

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Re: Overheard at Work
« Reply #16193 on: December 18, 2016, 07:08:57 PM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

$10,000 on a presumably-new bike which is about to get dropped by a learner rider? Winning.

LAMS bikes tend to have solid re-sale value because there is always a cohort of new riders who need to do their time on a 650, but he could have had reasonable learner bike for a third of that price.

nnls

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Re: Overheard at Work
« Reply #16194 on: December 18, 2016, 08:07:35 PM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

$10,000 on a presumably-new bike which is about to get dropped by a learner rider? Winning.

LAMS bikes tend to have solid re-sale value because there is always a cohort of new riders who need to do their time on a 650, but he could have had reasonable learner bike for a third of that price.

yes new, on 2% interest. He didnt want a second hand one because he wouldnt have been able to get a loan for it

Playing with Fire UK

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Re: Overheard at Work
« Reply #16195 on: December 19, 2016, 01:56:53 AM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

$10,000 on a presumably-new bike which is about to get dropped by a learner rider? Winning.

LAMS bikes tend to have solid re-sale value because there is always a cohort of new riders who need to do their time on a 650, but he could have had reasonable learner bike for a third of that price.

yes new, on 2% interest. He didnt want a second hand one because he wouldnt have been able to get a loan for it

And doesn't he deserve a new bike as a treat for quitting smoking...? Oh, wait.

nnls

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Re: Overheard at Work
« Reply #16196 on: December 19, 2016, 02:21:25 AM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

$10,000 on a presumably-new bike which is about to get dropped by a learner rider? Winning.

LAMS bikes tend to have solid re-sale value because there is always a cohort of new riders who need to do their time on a 650, but he could have had reasonable learner bike for a third of that price.

yes new, on 2% interest. He didnt want a second hand one because he wouldnt have been able to get a loan for it

And doesn't he deserve a new bike as a treat for quitting smoking...? Oh, wait.

It gets worse really, since earlier this year they refinanced their mortgage to consolidate all their debts (I think they had about 50k in personal loans/ car loans/ cc debt) and by the sounds of it they will be back in the same position in another 12 months

theadvicist

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Re: Overheard at Work
« Reply #16197 on: December 19, 2016, 05:41:54 AM »
I earned a much bigger performance bonus this year, it really felt like extra money that I should do something special for myself with, so i invested it in low-fee index funds and increased my savings rate to a personal record level!  Pampering achieved!

What a great way to treat yourself!

I got a decent bonus too, and was like, MMM said I could buy myself a fancy coffee, since it's such a decent amount! But... nah, I'd rather put it all in savings.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16198 on: December 19, 2016, 06:28:09 AM »
A guy at work is just telling us he has purchased a bike for $10000 and is now trying to work out how to tell his wife. He is considering telling her he has quit smoking and he will use his smoking money to pay off the bike, but he was telling us this just after he came back from having a cigarette so not too sure how that will work out for him

 He also doesnt have a licence so the shop wont let him take the bike (that he is paying for) until he gets his learners permit

$10,000 on a presumably-new bike which is about to get dropped by a learner rider? Winning.

LAMS bikes tend to have solid re-sale value because there is always a cohort of new riders who need to do their time on a 650, but he could have had reasonable learner bike for a third of that price.

yes new, on 2% interest. He didnt want a second hand one because he wouldnt have been able to get a loan for it

And doesn't he deserve a new bike as a treat for quitting smoking...? Oh, wait.

It gets worse really, since earlier this year they refinanced their mortgage to consolidate all their debts (I think they had about 50k in personal loans/ car loans/ cc debt) and by the sounds of it they will be back in the same position in another 12 months

Noooooooooooooooooooooooooooooo.

RyanAtTanagra

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Re: Overheard at Work
« Reply #16199 on: December 19, 2016, 10:26:04 AM »
It gets worse really, since earlier this year they refinanced their mortgage to consolidate all their debts (I think they had about 50k in personal loans/ car loans/ cc debt) and by the sounds of it they will be back in the same position in another 12 months

This is such a horrible maneuver, because it doesn't get rid of the underlying problem, uncontrolled spending.  My sister talked my mom into doing this a few years ago and I didn't find out until afterwards.  I was like 'are you f'ing crazy?!'.  And yep, took less than a year before the CC debt started adding back up again.  Then she got mad at her and all I could say was 'how could you possibly have seen that going any other way?'.  40 years of bad spending habits don't go away just because you shuffle debts around.