Author Topic: Overheard at Work  (Read 5303819 times)

iowajes

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Re: Overheard at Work
« Reply #16200 on: December 13, 2016, 07:46:24 AM »
Oh- and since we are talking tolls.  I work in a satellite office about 4 hours from Chicago.  It costs about $25 in tolls to make the trip; half that if you have an easy pass.  Since we don't live in a state with toll roads, no one has one. 

We've suggested getting one or two for the office, since people constantly make the trip to Chicago. Thus far, it has been a no-go.  They'd rather we pay the tolls individually, and then reimburse on an expense report. 

So the office is always paying double tolls.

This seems to be fine with the budget.

But if you want a black pen instead of the standard purple ones- that you'll need to write a business case for.

mtn

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Re: Overheard at Work
« Reply #16201 on: December 13, 2016, 08:56:26 AM »
Oh- and since we are talking tolls.  I work in a satellite office about 4 hours from Chicago.  It costs about $25 in tolls to make the trip; half that if you have an easy pass.  Since we don't live in a state with toll roads, no one has one. 

We've suggested getting one or two for the office, since people constantly make the trip to Chicago. Thus far, it has been a no-go.  They'd rather we pay the tolls individually, and then reimburse on an expense report. 

So the office is always paying double tolls.

This seems to be fine with the budget.

But if you want a black pen instead of the standard purple ones- that you'll need to write a business case for.

Buy the ipass for yourself, then send in the reimburssment for the regular tolls and profit?

ysette9

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Re: Overheard at Work
« Reply #16202 on: December 13, 2016, 09:16:15 AM »
The I-70 toll system around Denver also take a million years to charge your credit card. I rarely take the toll road because going I-25 to the airport usually is just as fast. For some reason I did though and the toll charges showed up on my corporate credit card something like three moths later. Not only that, the charge d'exemption had nothing to do with tolls and the location was some state on the east coast, so I thought it was a fraudulent charge. What a pain!
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MgoSam

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Re: Overheard at Work
« Reply #16203 on: December 13, 2016, 09:20:44 AM »
Oh- and since we are talking tolls.  I work in a satellite office about 4 hours from Chicago.  It costs about $25 in tolls to make the trip; half that if you have an easy pass.  Since we don't live in a state with toll roads, no one has one. 

We've suggested getting one or two for the office, since people constantly make the trip to Chicago. Thus far, it has been a no-go.  They'd rather we pay the tolls individually, and then reimburse on an expense report. 

So the office is always paying double tolls.

This seems to be fine with the budget.

But if you want a black pen instead of the standard purple ones- that you'll need to write a business case for.

Buy the ipass for yourself, then send in the reimburssment for the regular tolls and profit?

I drive to Chicago from MN about 6-8 times a year and use the Ipass. My predecessor didn't, he took an odd delight in ensuring that he had exact change for all the tolls and would always comment on how the attendants seemed to like him because he always had exact change, and he refused to consider the Ipass. Once I took over the drive I immediately got it, as it is half the price for tolls, saves me times in getting through them, and it's one less thing to fumble around for while driving.

Cadman

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Re: Overheard at Work
« Reply #16204 on: December 13, 2016, 10:11:12 AM »
I was hit by similar charges last year for delinquent tolls on a rental for work. It seems the more popular rental car agencies include an iPass in an RF hardened box on the windshield whether you order it or not. The idea is you leave the box closed if you have your own iPass, which our department does. Despite the box being closed, I was still charged for several tolls (with lots of inflated 'processing fees') which took months to get through the rental's system and show up in expense reporting.

Rental agency pointed the finger at the Illinois tollway, IT pointed the finger back at the Rental agency. Lost way too much time on the phone and got nowhere. Without tying the rental license plate to the department iPass, there was no way to reconcile the time and date of the charges against the rental's iPass. If you do enter the rental's plate, you better be damn sure to pull it before turning the car back in.

mtn

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Re: Overheard at Work
« Reply #16205 on: December 13, 2016, 10:15:26 AM »
I was hit by similar charges last year for delinquent tolls on a rental for work. It seems the more popular rental car agencies include an iPass in an RF hardened box on the windshield whether you order it or not. The idea is you leave the box closed if you have your own iPass, which our department does. Despite the box being closed, I was still charged for several tolls (with lots of inflated 'processing fees') which took months to get through the rental's system and show up in expense reporting.

Rental agency pointed the finger at the Illinois tollway, IT pointed the finger back at the Rental agency. Lost way too much time on the phone and got nowhere. Without tying the rental license plate to the department iPass, there was no way to reconcile the time and date of the charges against the rental's iPass. If you do enter the rental's plate, you better be damn sure to pull it before turning the car back in.

As someone who lives in Illinois,  I am very happy with the IPass system. I have never had an issue with the tolls, and I probably drive through them at least once a week. Plus, I don't even have to have the ipass in the car--as long as I have my plates linked up, I'm good to go. The only issue I've ever had was when my credit card expired and I forgot to get a new one in there. Somehow I was able to get out of the charges.

dragoncar

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Re: Overheard at Work
« Reply #16206 on: December 13, 2016, 10:38:20 AM »
the charge d'exemption had nothing to do with tolls and the location was some state on the east coast, so I thought it was a fraudulent charge. What a pain!

Oh my, did you call the fraud l'partment?

Cadman

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Re: Overheard at Work
« Reply #16207 on: December 13, 2016, 10:45:13 AM »
MTN, I agree! And this is clearly a case of H*rtz working the system, IMO.

I'm glad the tollway is finally replacing their (frequently burnt out) incandescent bulbs with LEDs at the off ramps around Chicago. Makes it a lot easier to see if it missed a read.

frugalnacho

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Re: Overheard at Work
« Reply #16208 on: December 13, 2016, 10:51:35 AM »
MTN, I agree! And this is clearly a case of H*rtz working the system, IMO.

Along with this you should decline the Hertz donut they offer.  Totally not worth it.

aboatguy

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Re: Overheard at Work
« Reply #16209 on: December 13, 2016, 12:22:44 PM »
i just got a new desktop - for the kid hitting high school. $500 for a machine that will do for 4 years is fine by me.

the one it replaced was 7 years old so i have a benchmark!

Thinking about replacing my laptop but its only 5 years old...

If your laptops harddrive isn't solid state, it is probably past its life expectancy.

I like replacing my computers every 3-4 years with whatever the latest deal is. Since I got a smartphone though, I've found that to be less and less of a necessity.

"life expectancy" seems like a really un-mustachian way to treat things. Mine is a 9 year old mac laptop.  It was my high school graduation gift.  Does that mean I win?

I agree though that smartphones/tablets/etc. fill in some of the gaps.  I do have a tablet as well that works for games, which my computer probably can't do.  Probably would have upgraded a while ago if I didn't.
My 19 year old Fujitsu laptop still works with its original hard drive.  I did upgrade it to windows 98 a while back (2000?).  Do I win the interwebz?

dragoncar

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Re: Overheard at Work
« Reply #16210 on: December 13, 2016, 12:32:03 PM »
i just got a new desktop - for the kid hitting high school. $500 for a machine that will do for 4 years is fine by me.

the one it replaced was 7 years old so i have a benchmark!

Thinking about replacing my laptop but its only 5 years old...

If your laptops harddrive isn't solid state, it is probably past its life expectancy.

I like replacing my computers every 3-4 years with whatever the latest deal is. Since I got a smartphone though, I've found that to be less and less of a necessity.

"life expectancy" seems like a really un-mustachian way to treat things. Mine is a 9 year old mac laptop.  It was my high school graduation gift.  Does that mean I win?

I agree though that smartphones/tablets/etc. fill in some of the gaps.  I do have a tablet as well that works for games, which my computer probably can't do.  Probably would have upgraded a while ago if I didn't.
My 19 year old Fujitsu laptop still works with its original hard drive.  I did upgrade it to windows 98 a while back (2000?).  Do I win the interwebz?

If it's your primary computer, then yes

Travis

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Re: Overheard at Work
« Reply #16211 on: December 13, 2016, 01:11:35 PM »
The I-70 toll system around Denver also take a million years to charge your credit card. I rarely take the toll road because going I-25 to the airport usually is just as fast. For some reason I did though and the toll charges showed up on my corporate credit card something like three moths later. Not only that, the charge d'exemption had nothing to do with tolls and the location was some state on the east coast, so I thought it was a fraudulent charge. What a pain!
My trip was in mid-October and the charge appeared two weeks ago.  I only noticed because I was filing the voucher for the trip I just finished this weekend. Otherwise it would have been a couple more months before I even saw it.  Thankfully our system allows for amendments to vouchers to be created months later.

Tjat

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Re: Overheard at Work
« Reply #16212 on: December 13, 2016, 04:00:54 PM »
Can you guys just not pay the rental fees on tolls? The tolls are being paid, it's just their bs fees that you're not paying. I imagine your cc can dispute for you.

gimp

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Re: Overheard at Work
« Reply #16213 on: December 13, 2016, 04:42:15 PM »
You might be able to do it once, but you might be put on the "DNR" list, and then next time you need to rent a car you're fucked.

Also, $200 for a gash in a tire? That I would dispute. Drivers aren't responsible for normal wear and tear. Unless they can prove it wasn't just something that happens from driving, they can go get fucked. Besides, tires on cheap-ass rental cars cost like $50. Labor ain't $150.

The Fake Cheap

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Re: Overheard at Work
« Reply #16214 on: December 13, 2016, 08:08:32 PM »
I heard this one today after a bit of snow we had recently:

"I never scrape the snow off my car, I just let it warm up until the snow is all melted off it"

Today it was about -5C, how warm does your car need to be to melt snow when it is -5C???

Plus I would be willing to bet this person has a truck or SUV.

Just take the 2 minutes and scrape off the bloody vehicle! 

LeRainDrop

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Re: Overheard at Work
« Reply #16215 on: December 13, 2016, 08:10:51 PM »
I heard this one today after a bit of snow we had recently:

"I never scrape the snow off my car, I just let it warm up until the snow is all melted off it"

Today it was about -5C, how warm does your car need to be to melt snow when it is -5C???

Plus I would be willing to bet this person has a truck or SUV.

Just take the 2 minutes and scrape off the bloody vehicle!

Here's what to do:  Mix up a solution of 1/3 water and 2/3 isopropyl/rubbing alcohol.  Put it in a spray bottle.  You can also store a spray bottle of this stuff in your car.  Spray your windshield (and other car windows).  Instant melt, frost all gone :-)

Playing with Fire UK

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Re: Overheard at Work
« Reply #16216 on: December 14, 2016, 01:21:45 AM »
Also, $200 for a gash in a tire? That I would dispute. Drivers aren't responsible for normal wear and tear. Unless they can prove it wasn't just something that happens from driving, they can go get fucked. Besides, tires on cheap-ass rental cars cost like $50. Labor ain't $150.

I expect any repair on a rental to be inflated. The rate of $2 for a toll and $25 for a processing fee seems typical. So the GBP 200 repair bill would be less than GBP 20 and the rest would be padding for the rental company.

Tasty Pinecones

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Re: Overheard at Work
« Reply #16217 on: December 14, 2016, 07:41:02 AM »
I heard this one today after a bit of snow we had recently:

"I never scrape the snow off my car, I just let it warm up until the snow is all melted off it"

Today it was about -5C, how warm does your car need to be to melt snow when it is -5C???

Plus I would be willing to bet this person has a truck or SUV.

Just take the 2 minutes and scrape off the bloody vehicle!

Here's what to do:  Mix up a solution of 1/3 water and 2/3 isopropyl/rubbing alcohol.  Put it in a spray bottle.  You can also store a spray bottle of this stuff in your car.  Spray your windshield (and other car windows).  Instant melt, frost all gone :-)

Cheap windshield washer wiper fluid has this in it already. Press the car's "wash" button and its done. Doesn't work well on snow but frost - okay.

Otherwise idle for 25 minutes letting the engine oil be diluted by excess fuel and wear out your engine prematurely.

I worry about buying a car whose previous owner was not being smart and was doing things like this.
« Last Edit: December 14, 2016, 07:45:02 AM by Tasty Pinecones »

iowajes

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Re: Overheard at Work
« Reply #16218 on: December 14, 2016, 08:29:07 AM »
Oh- and since we are talking tolls.  I work in a satellite office about 4 hours from Chicago.  It costs about $25 in tolls to make the trip; half that if you have an easy pass.  Since we don't live in a state with toll roads, no one has one. 

We've suggested getting one or two for the office, since people constantly make the trip to Chicago. Thus far, it has been a no-go.  They'd rather we pay the tolls individually, and then reimburse on an expense report. 

So the office is always paying double tolls.

This seems to be fine with the budget.

But if you want a black pen instead of the standard purple ones- that you'll need to write a business case for.

Buy the ipass for yourself, then send in the reimburssment for the regular tolls and profit?

Haha- that would be awesome. Except if I got caught and lost my job for falsifying expense reports.  My job pays a lot more than I'd make off of the difference in tolls, so won't risk it!

mtn

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Re: Overheard at Work
« Reply #16219 on: December 14, 2016, 08:34:06 AM »
Oh- and since we are talking tolls.  I work in a satellite office about 4 hours from Chicago.  It costs about $25 in tolls to make the trip; half that if you have an easy pass.  Since we don't live in a state with toll roads, no one has one. 

We've suggested getting one or two for the office, since people constantly make the trip to Chicago. Thus far, it has been a no-go.  They'd rather we pay the tolls individually, and then reimburse on an expense report. 

So the office is always paying double tolls.

This seems to be fine with the budget.

But if you want a black pen instead of the standard purple ones- that you'll need to write a business case for.

Buy the ipass for yourself, then send in the reimburssment for the regular tolls and profit?

Haha- that would be awesome. Except if I got caught and lost my job for falsifying expense reports.  My job pays a lot more than I'd make off of the difference in tolls, so won't risk it!


Still get the ipass and expense the actual ipass cost. Much quicker. And easier.

BuffaloStache

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Re: Overheard at Work
« Reply #16220 on: December 14, 2016, 09:30:28 AM »
Overhead at work this morbing from an older coworker who constantly talks about his "pension" (which has dwindled in recent years, and may not even exist when he retires) when discussing retirement:

"Why would I ever save more than the 8% into my 401k (max amount required to get max employer match) across any accounts? I don't get any benefits for saving anything above that."

At least he is taking advantage of the employer match, I'm sure there are many people who don't.
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TallFrodo

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Re: Overheard at Work
« Reply #16221 on: December 14, 2016, 03:17:52 PM »
Here's what to do:  Mix up a solution of 1/3 water and 2/3 isopropyl/rubbing alcohol.  Put it in a spray bottle.  You can also store a spray bottle of this stuff in your car.  Spray your windshield (and other car windows).  Instant melt, frost all gone :-)

Plus if you ever get in a traffic accident, be sure to discretely spritz a little on the other party before the police show up to save hundreds in insurance premiums! /s

Back on topic: My office is open 50 weeks a year. For union voodoo reasons everyone gets a set rate over those 50 weeks and then signs a form to have it reduced slightly and annualised so they don't "miss" a paycheque at Christmas. Today the HR lady was chasing my boss down because he hadn't filled in his form (he's near retirement, has his shit together, presumably values the money sooner in the year so it can be invested and just live on savings for the Christmas break*)

My coworker told her "Oh, he didn't return it because he doesn't want to."

HR lady: "But if I don't get this form in he won't be getting paid!"

I reassured her too but eventually she had to call the boss and even then it was such an edge case that she needed to pull him back from where he was to come into her office and confirm it in person too. I thought it was funny that the "default" option is the one that requires a multi-page contract printed in duplicate and handed in person to all 300 members of staff and returned by a set date.

*Since we had our conversation I've realised that mathematically I should be doing this too. I'm still new to the Mustachianism thing so I still feel like I'll just overspend the "extra" money and not come out any further ahead. Whats the future value of an extra couple bucks a week (lets say $40) spread over a year if just my bank gives 3% p.a.?

Prairie Stash

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Re: Overheard at Work
« Reply #16222 on: December 14, 2016, 04:38:08 PM »
Back on topic: My office is open 50 weeks a year. For union voodoo reasons everyone gets a set rate over those 50 weeks and then signs a form to have it reduced slightly and annualised so they don't "miss" a paycheque at Christmas. Today the HR lady was chasing my boss down because he hadn't filled in his form (he's near retirement, has his shit together, presumably values the money sooner in the year so it can be invested and just live on savings for the Christmas break*)

My coworker told her "Oh, he didn't return it because he doesn't want to."

HR lady: "But if I don't get this form in he won't be getting paid!"

I reassured her too but eventually she had to call the boss and even then it was such an edge case that she needed to pull him back from where he was to come into her office and confirm it in person too. I thought it was funny that the "default" option is the one that requires a multi-page contract printed in duplicate and handed in person to all 300 members of staff and returned by a set date.

*Since we had our conversation I've realised that mathematically I should be doing this too. I'm still new to the Mustachianism thing so I still feel like I'll just overspend the "extra" money and not come out any further ahead. Whats the future value of an extra couple bucks a week (lets say $40) spread over a year if just my bank gives 3% p.a.?
50 weeks, $40 per week at 3%. you would get roughly $32. Basically divide the total saved in half and multiply by the rate (quick and dirty). So $2000/2=1000 at 3% gives you $30, the mental math is easier that way. Is it worth $30 to you to set up the automatic savings transfer?

On the flip side the company could collect $30*300 people in interest; $9,000. It might be union voodoo or it might be the company being smart. In todays low rate environment its not as lucrative, back when I could get 4% on savings I made a few dollars off expense claims; I'd get reimbursed for credit cards that I paid off 4 weeks later. Having money sit in my savings added up, usually enough for a beer or two a month.

kayvent

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Re: Overheard at Work
« Reply #16223 on: December 14, 2016, 07:36:45 PM »
Here's what to do:  Mix up a solution of 1/3 water and 2/3 isopropyl/rubbing alcohol.  Put it in a spray bottle.  You can also store a spray bottle of this stuff in your car.  Spray your windshield (and other car windows).  Instant melt, frost all gone :-)

Plus if you ever get in a traffic accident, be sure to discretely spritz a little on the other party before the police show up to save hundreds in insurance premiums! /s

Back on topic: My office is open 50 weeks a year. For union voodoo reasons everyone gets a set rate over those 50 weeks and then signs a form to have it reduced slightly and annualised so they don't "miss" a paycheque at Christmas. Today the HR lady was chasing my boss down because he hadn't filled in his form (he's near retirement, has his shit together, presumably values the money sooner in the year so it can be invested and just live on savings for the Christmas break*)

My coworker told her "Oh, he didn't return it because he doesn't want to."

HR lady: "But if I don't get this form in he won't be getting paid!"

I reassured her too but eventually she had to call the boss and even then it was such an edge case that she needed to pull him back from where he was to come into her office and confirm it in person too. I thought it was funny that the "default" option is the one that requires a multi-page contract printed in duplicate and handed in person to all 300 members of staff and returned by a set date.

*Since we had our conversation I've realised that mathematically I should be doing this too. I'm still new to the Mustachianism thing so I still feel like I'll just overspend the "extra" money and not come out any further ahead. Whats the future value of an extra couple bucks a week (lets say $40) spread over a year if just my bank gives 3% p.a.?

In Canada there is the debate about having a large return or filing T1213 to reduce the amount of tax deducted from one's paycheque. I've tended to go with maximizing my paycheques. For me the different is around 300$ per paycheque though.

I do get what you mean about feeling "like I'll just overspend the 'extra' money and not come out any further ahead." The words of _The Wealthy Barber_ may help. "Pay yourself first" he says. If you have any debts (myself student loans), assign that 40$/week to the debt before you plan to spend it. Heck, some lovely lunatics ;) adventurous individuals on this forum would even try to gamify your situation and not spend anything in the two weeks.

canuck_24

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Re: Overheard at Work
« Reply #16224 on: December 14, 2016, 09:38:23 PM »
I had a shocking conversation the other day while driving home from work with a couple of colleagues:
CW1:  "I see Ford is having a sale, I think I might go get a new truck."
me: "Oh, is your old one pretty worn out?  Were you planning to buy something soon anyways?"
CW1: "No, actually, my truck is only ... ummm... I'm not sure maybe 2 years old?  I was planning to mile it out, but this is a really good sale, and my truck doesn't have as many features as the new ones.  I think if they will buy me out of what's left owing on my current truck I'll take the deal today and have a new truck!"
me: "Wow.  I think I'd have a really hard time making a decision so fast on such a big purchase.  We got burned when we had to sell our last new vehicle quickly because we decided to move overseas, and lost quite a bit of money.  I don't think I'll ever purchase another new car because of that."

Now, if the above convo wasn't bad enough... here was the part that shocked me:

CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"

I debated for a bit if I should say anything... CW1 is very intelligent.  I quite like CW1 and didn't want her to lose money on another deal, so I tossed caution to the wind and mentioned, "Well, if you didn't sell it for what you paid, AND you were paying interest... unless you made capital gains on an equivalent amount of money you were investing while the bank loaned you the money for the truck... you definitely lost money on your last truck."
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

at which point CW2 begins commenting about their vehicle, joining CW1: "Oh I made sure to buy brandX because they NEVER lose value.  I'm sure I'll be able to sell it for the same price as what I bought it for new no matter how long I drive it."

I just smiled and nodded for the remainder of the conversation.  I know there's been a ton of car-conversation on here, but until this convo I don't know if I entirely "got" it.  It astounded me.

mustachepungoeshere

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Re: Overheard at Work
« Reply #16225 on: December 14, 2016, 09:41:40 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.

gimp

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Re: Overheard at Work
« Reply #16226 on: December 14, 2016, 09:52:32 PM »
canuck:

Oddly enough, in rare cases, the dealer incentives can push the price of certain brand new pickup trucks noticeably below their lightly used (~25k miles) value.

I assume they weren't exactly talking about this, though.

canuck_24

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Re: Overheard at Work
« Reply #16227 on: December 14, 2016, 10:23:35 PM »
canuck:

Oddly enough, in rare cases, the dealer incentives can push the price of certain brand new pickup trucks noticeably below their lightly used (~25k miles) value.

I assume they weren't exactly talking about this, though.

Nope, definitely not talking about a deal like this. 

marty998

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Re: Overheard at Work
« Reply #16228 on: December 14, 2016, 11:56:17 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.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16229 on: December 15, 2016, 12:10:53 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

kayvent

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Re: Overheard at Work
« Reply #16230 on: December 15, 2016, 03:45:31 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

marty998

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Re: Overheard at Work
« Reply #16231 on: December 15, 2016, 05:08:35 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

Quantum of payment matters. Higher or lower (or better or worse vehicle).

But agree with canuck and PWFUK (thats an interesting abbreviation. sorry!). Logic doesn't bend to opinion.

Maths is either right or wrong.

jinga nation

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Re: Overheard at Work
« Reply #16232 on: December 15, 2016, 06:39:21 AM »
...at which point CW2 begins commenting about their vehicle, joining CW1: "Oh I made sure to buy brandX because they NEVER lose value.  I'm sure I'll be able to sell it for the same price as what I bought it for new no matter how long I drive it."
...
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onlykelsey

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Re: Overheard at Work
« Reply #16233 on: December 15, 2016, 06:41:04 AM »
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?

frugalnacho

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Re: Overheard at Work
« Reply #16234 on: December 15, 2016, 08:11:50 AM »
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?

she works at acme acres

Playing with Fire UK

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Re: Overheard at Work
« Reply #16235 on: December 15, 2016, 09:43:42 AM »
PWFUK (thats an interesting abbreviation. sorry!)

It's the noise I make when I read an amusing comment on MMM and then realise I've sprayed coffee on my keyboard. Nothing to apologise for.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16236 on: December 15, 2016, 09:47:10 AM »
I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

You are right Kayvent, but (just for fun) how many other things are true if you assume you'll always have a car payment...?

dandarc

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Re: Overheard at Work
« Reply #16237 on: December 15, 2016, 09:54:31 AM »
I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

You are right Kayvent, but (just for fun) how many other things are true if you assume you'll always have a car payment...?
You'll always have comprehensive and collision insurance.
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Tasty Pinecones

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Re: Overheard at Work
« Reply #16238 on: December 15, 2016, 10:42:11 AM »
Perpetual debt. Now there's something depressing. It costs money to live of course but things like expensive gadgets and vehicles are optional. Buy something cheaper cash.

mustachepungoeshere

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Re: Overheard at Work
« Reply #16239 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 #16240 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 #16241 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 #16242 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 #16243 on: December 15, 2016, 01:56:53 PM »
I just borrow my wife's black dress.  Free to me

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Re: Overheard at Work
« Reply #16244 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"

We live in an RV full time while still working remotely. Check it out at http://therecklesschoice.com

MgoSam

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Re: Overheard at Work
« Reply #16245 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 #16246 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 #16247 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 a kid.
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ingrownstudentloans

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Re: Overheard at Work
« Reply #16248 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 #16249 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!
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