Author Topic: Overheard at Work  (Read 8586981 times)

Cromacster

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Re: Overheard at Work
« Reply #1900 on: February 28, 2014, 10:33:17 AM »
I get it that some people aren't into prepping ahead of time. I was just awed by the idea that soaking is way too much work.
Maybe my standards are low, but it seems to me that when you see your bag of dried beans, you put them in the crock pot and forget about them until sometime the next day.  (I'm sure there are people with really high standards, who like their beans fully cooked, but still very firm, and would throw the whole batch away if it were mushy -- I am not one of those people.)

Then, you put them in the fridge (or freezer) until you decide to use them. 

It must just be a mental block with some people -- something that sounds so alien and foreign that they can't imagine how they'd do it.  When you think about it, it's no work at all.  Less active time than opening 4 cans of store-bought beans.

It's just their excuse to be lazy.

dragoncar

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Re: Overheard at Work
« Reply #1901 on: February 28, 2014, 10:53:13 AM »

It's just their excuse to be lazy.

Hey!  I don't need an excuse to be lazy!

Dr.Vibrissae

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Re: Overheard at Work
« Reply #1902 on: February 28, 2014, 11:36:42 AM »
I feel bad for the delivery guy, b/c my in-laws will place the two orders on the same call, but separate billing.  When the doorbell rings, one will go up first, pay for his/her food, and once they re-enter the apartment, the other one goes to the door and handles the remaining transaction.  I'm surprised they haven't labeled the leftovers in the fridge yet...
This seems like a whole new level of separate finances...

NumberCruncher

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Re: Overheard at Work
« Reply #1903 on: February 28, 2014, 12:33:46 PM »
I get it that some people aren't into prepping ahead of time. I was just awed by the idea that soaking is way too much work.
Maybe my standards are low, but it seems to me that when you see your bag of dried beans, you put them in the crock pot and forget about them until sometime the next day.  (I'm sure there are people with really high standards, who like their beans fully cooked, but still very firm, and would throw the whole batch away if it were mushy -- I am not one of those people.)

Then, you put them in the fridge (or freezer) until you decide to use them. 

It must just be a mental block with some people -- something that sounds so alien and foreign that they can't imagine how they'd do it.  When you think about it, it's no work at all.  Less active time than opening 4 cans of store-bought beans.

I will admit that we bought canned beans until very recently. It's totally a mental block. Sometimes you just do something, without even thinking, because that's just always how you've done it.

I talked about dry vs. canned with a friend recently and he asked "is it cheaper?"  - so some people just don't even realize how much cheaper it can be (including me a month ago). I think some of it is visuals - with something like chick peas, a cup of dried beans is two and a half cups cooked.

dragoncar

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Re: Overheard at Work
« Reply #1904 on: February 28, 2014, 12:45:38 PM »
I get it that some people aren't into prepping ahead of time. I was just awed by the idea that soaking is way too much work.
Maybe my standards are low, but it seems to me that when you see your bag of dried beans, you put them in the crock pot and forget about them until sometime the next day.  (I'm sure there are people with really high standards, who like their beans fully cooked, but still very firm, and would throw the whole batch away if it were mushy -- I am not one of those people.)

Then, you put them in the fridge (or freezer) until you decide to use them. 

It must just be a mental block with some people -- something that sounds so alien and foreign that they can't imagine how they'd do it.  When you think about it, it's no work at all.  Less active time than opening 4 cans of store-bought beans.

I will admit that we bought canned beans until very recently. It's totally a mental block. Sometimes you just do something, without even thinking, because that's just always how you've done it.

I talked about dry vs. canned with a friend recently and he asked "is it cheaper?"  - so some people just don't even realize how much cheaper it can be (including me a month ago). I think some of it is visuals - with something like chick peas, a cup of dried beans is two and a half cups cooked.

So... is it cheaper?

NumberCruncher

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Re: Overheard at Work
« Reply #1905 on: February 28, 2014, 01:15:54 PM »
I get it that some people aren't into prepping ahead of time. I was just awed by the idea that soaking is way too much work.
Maybe my standards are low, but it seems to me that when you see your bag of dried beans, you put them in the crock pot and forget about them until sometime the next day.  (I'm sure there are people with really high standards, who like their beans fully cooked, but still very firm, and would throw the whole batch away if it were mushy -- I am not one of those people.)

Then, you put them in the fridge (or freezer) until you decide to use them. 

It must just be a mental block with some people -- something that sounds so alien and foreign that they can't imagine how they'd do it.  When you think about it, it's no work at all.  Less active time than opening 4 cans of store-bought beans.

I will admit that we bought canned beans until very recently. It's totally a mental block. Sometimes you just do something, without even thinking, because that's just always how you've done it.

I talked about dry vs. canned with a friend recently and he asked "is it cheaper?"  - so some people just don't even realize how much cheaper it can be (including me a month ago). I think some of it is visuals - with something like chick peas, a cup of dried beans is two and a half cups cooked.

So... is it cheaper?

http://www.wisebread.com/canned-vs-dried-beans-which-are-cheaper  --prices quoted there are about what I see in local stores.

Dried is about half the price to 2/3 the price of canned.

grantmeaname

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Re: Overheard at Work
« Reply #1906 on: February 28, 2014, 02:43:00 PM »
Meh. I'm not that worried.

Frankies Girl

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Re: Overheard at Work
« Reply #1907 on: February 28, 2014, 02:45:21 PM »
I thought I read somewhere that cooking dried beans in the crockpot was dangerous because the beans contain a toxin that needs higher temperatures to get rid of it?

I had no idea about this, but apparently it is sort of true for kidney and lima beans:
http://www.fda.gov/food/foodborneillnesscontaminants/causesofillnessbadbugbook/ucm071092.htm

Most "dried beans" (there are dozens out there) are perfectly fine cooked in a crockpot. And even kidney/limas beans are safe if you make sure to soak them long enough and/or boil them first.

I've done dried beans the way I was taught by my dad - soak them overnight with water and a few pinches of baking soda (he said it helped remove the "gassy" quality), drain and rinse, then cook for X number of hours (depends on method of cooking). I'm pretty sure I've cooked most common types of beans this way (Great Northern, pinto, blackeye, lima...etc) but I'm sure in some of the 10 bean mixes I've picked up, there have been kidney beans in there and I've had no ill effects but I also do see them boiling or simmering in the crockpot or stovetop.

the fixer

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Re: Overheard at Work
« Reply #1908 on: February 28, 2014, 03:07:28 PM »
Pretty much all legumes contain some level of toxins in their raw form. This is why beans need to be soaked; exposure to moisture in an anaerobic environment breaks down a lot of it, plus the water also leaches some stuff out. I'm not eating beans any more but I stupidly always bought canned, if I ever reintroduce them I will buy dry and soak them myself. I suspect there may be a difference in how much stuff gets leached out in the canning process versus doing it yourself.

BTW, I've also read (here http://www.whfoods.com/genpage.php?tname=foodspice&dbid=2) that it's probably best to discard the soak water. When I used to cook with beans I would often include the liquid from the can; probably not a good idea in retrospect.

dragoncar

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Re: Overheard at Work
« Reply #1909 on: February 28, 2014, 03:18:26 PM »
"My friends and I are having a girl's night. We're going to Peter Luger. It won't be that bad, though, because we don't eat that much, so the five of us will split steak for three."

http://www.peterluger.com/menu-bklyn.cfm

No prices on the menu, but it's a $$$$ restaurant on Yelp.

Menu pages says $149.25 (could be a bit old).  $30 isn't really outrageous for a night out.

dragoncar

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Re: Overheard at Work
« Reply #1910 on: February 28, 2014, 03:37:14 PM »

That's for your slab 'o cow, which IIRC, runs $99 for 2

You know a suspicious amount about how much the steak for two costs...

Jack

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Re: Overheard at Work
« Reply #1911 on: February 28, 2014, 06:08:43 PM »
If you don't have time to soak dried beans, use a pressure cooker.

Apples

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Re: Overheard at Work
« Reply #1912 on: March 01, 2014, 06:32:22 AM »
Interesting/kinda sad conversation the other day at work:

CW:  I only have 15 years left, then I'll get to retire. (he was saying this in response to not dealing w/a certain other cw)
Me:  Is that when you should have enough money saved up to live off of?  That'll be great!
CW:  That's when I'll get Social Security benefits.  It's hard to save w/ kids, you know?  We have a little saved, but not that much.

We are a small business and I work in the office-I know he makes $40,000 to $48,000 a year.  He lives in a house owned by the business and does not pay rent, but does cover his own utilities.  At retirement, he will no longer be able to live there (the housing is reserved for employees only).  They do drive really old cars and wear thrift shop clothing, but I'm still concerned his timeline won't actually work.  And I'm only 23 so I'm certainly not counting on SS for my retirement income.  It was actually weird to me that he's planning on SS benefits as a way to determine at what age he can retire.  (And I don't think he's aware you get higher/lower benefits at different ages.  He just knows 65 is "retirement age".)

Ayanka

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Re: Overheard at Work
« Reply #1913 on: March 01, 2014, 07:23:10 AM »
Well its not overheard at work, it was at the store, but it was about work so. Person that immigrated from Portugal (a country which is not doing good economically at all), used to make 2k net, at which he was very proud.( As a comparison, average monthly pay inhere is about 1,5K.) He used to complain about having to watch his tv and computer et cetera because the weather was not good, so I doubt he saved a big deal and spent a lot on the toys. The guy quit and is now unhappy because the unemployment office is not giving him money. Which is just part of the law, I was even surprised you could apply for unemployment when you quit yourself. People aren't hiring him because he is unhappy, more probable because his Dutch is pretty bad and he quit a couple of jobs already. And now he has money problems... I am so not feeling sorry for him, honestly.

Cheddar Stacker

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Re: Overheard at Work
« Reply #1914 on: March 01, 2014, 01:25:43 PM »
$1,700 monthly electric bill - Yes , you read that correctly. I didn't hear it, I saw it in the checkbook register of a client of mine. In all fairness, their winter electric bill dropped to only $450 so I guess they were conserving (WTF?). I've been to their house (ehem, castle) which is about 6,000 sqft, and they have a pool, and a poolhouse, but how is this even possible? This is for an elderly (70 ish) couple with no one else living in the house.

AlanStache

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Re: Overheard at Work
« Reply #1915 on: March 01, 2014, 01:37:08 PM »
Quote
$1,700 monthly electric bill -

that would take effort, buddy has 4k sqft, pool, pool house, always has 2-3 tvs on (not being watched) old school light bulbs, hot tub, waterfall, but gas heat in the house and his is around 400$/mon.  you would have to be keeping the pool warm-maybe they like to swim laps year round?

Cheddar Stacker

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Re: Overheard at Work
« Reply #1916 on: March 01, 2014, 01:44:18 PM »
I think they must be running the AC at 60 degrees in the summer in a HUGE house, likely without ideal insulation or high efficiency blower. I still don't know how this is possible though.

pipercat

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Re: Overheard at Work
« Reply #1917 on: March 03, 2014, 10:10:09 AM »
A co-worker recently complained about her teenage son.  See, he just recently got a car (used, Dodge I think, on mom and dad's dime), and he wanted to change the oil himself.  She specifically gave him $40 to go get the oil changed because she didn't want him to change it himself.  Even though he took some sort of auto machine class in high school, and he was dying to do it.  Her reasons:  He just doesn't understand how expensive it will be.  He will need to buy the oil and filter.  He will need to buy special tools, and then he will need to pay to dispose of it!

She got mad, though, because he changed it himself anyway!  I say, good for him!

Paul der Krake

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Re: Overheard at Work
« Reply #1918 on: March 03, 2014, 10:15:13 AM »
A co-worker recently complained about her teenage son.  See, he just recently got a car (used, Dodge I think, on mom and dad's dime), and he wanted to change the oil himself.  She specifically gave him $40 to go get the oil changed because she didn't want him to change it himself.  Even though he took some sort of auto machine class in high school, and he was dying to do it.  Her reasons:  He just doesn't understand how expensive it will be.  He will need to buy the oil and filter.  He will need to buy special tools, and then he will need to pay to dispose of it!

She got mad, though, because he changed it himself anyway!  I say, good for him!
Wow, that's terrible parenting. Things that promote self-reliance and understanding of everyday objects like this should be encouraged, even if it costs a little more. Not that that's even the case here... aside from maybe $20 one time upfront fee for jack stands.

ketchup

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Re: Overheard at Work
« Reply #1919 on: March 03, 2014, 10:18:33 AM »
Yeah, that's pretty awful.  $40 gets you the fancy synthetic oil too.  And it makes a teenager feel like a badass.

Hunny156

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Re: Overheard at Work
« Reply #1920 on: March 03, 2014, 10:25:54 AM »
Quote
$1,700 monthly electric bill -

that would take effort, buddy has 4k sqft, pool, pool house, always has 2-3 tvs on (not being watched) old school light bulbs, hot tub, waterfall, but gas heat in the house and his is around 400$/mon.  you would have to be keeping the pool warm-maybe they like to swim laps year round?

Just heard from the financial train wreck in-laws last night.  They live in the basement of a triplex in a borough of NYC.  This place could be a gold mine if managed correctly.  Furnace is 30+ years old, but family is too cheap to replace it, even though it's beyond borrowed time.  It's so old, it doesn't even work w/a hot water heater!  Well, the family is freaking out b/c the main floor hasn't been getting heat this winter, and the heating bills have shot up to $700/mo.  Too scared to repair/replace it.  Grandpa lives upstairs alone in a 3 BR unit, and can't handle stairs.  Pays no rent, it's his house, lives off Social Security & side hustle.  Main floor is 1 BR unit, rented for about $1K, but no one wants to raise the rent on this unit b/c the tenant often drives grandpa to doctor appointments and for errands.  Basement unit is a 2 BR unit, my in-laws pay $500/mo.  They are now being asked to pay more rent or to pay the utility bill every month.  Freaking out over how they'll survive.  Refuses to change their lifestyle.  If that property were renovated a bit and managed properly, it could easily gross $4,500/mo.  A few minor changes, and they could pay all the house bills and live well!  I so want to facepunch them, over and over and over...

greenmimama

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Re: Overheard at Work
« Reply #1921 on: March 03, 2014, 11:26:44 AM »
$1,700 monthly electric bill - Yes , you read that correctly. I didn't hear it, I saw it in the checkbook register of a client of mine. In all fairness, their winter electric bill dropped to only $450 so I guess they were conserving (WTF?). I've been to their house (ehem, castle) which is about 6,000 sqft, and they have a pool, and a poolhouse, but how is this even possible? This is for an elderly (70 ish) couple with no one else living in the house.

That is a ginormous bill, our home is also 6k Sq Ft but no pool and our biggest bill was $400, and I want to punch myself for that one.

C. K.

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Re: Overheard at Work
« Reply #1922 on: March 03, 2014, 12:07:33 PM »
A co-worker recently complained about her teenage son.  See, he just recently got a car (used, Dodge I think, on mom and dad's dime), and he wanted to change the oil himself.  She specifically gave him $40 to go get the oil changed because she didn't want him to change it himself.  Even though he took some sort of auto machine class in high school, and he was dying to do it.  Her reasons:  He just doesn't understand how expensive it will be.  He will need to buy the oil and filter.  He will need to buy special tools, and then he will need to pay to dispose of it!

She got mad, though, because he changed it himself anyway!  I say, good for him!
Wow, that's terrible parenting. Things that promote self-reliance and understanding of everyday objects like this should be encouraged, even if it costs a little more. Not that that's even the case here... aside from maybe $20 one time upfront fee for jack stands.

 
We know it's not necessary to let the experts change the oil, but this parent doesn't. Fine. No human is omniscient.

There are plenty of ways the kid could have respectfully educated his parents, including having the instructor -an expert- from that auto class talk to his mom to reassure her that it's perfectly fine for a non-professional to change fluids in the car.

Although learning self-reliance is great, the kid can also learn to get his way, with the approval of his parents, without leaping straight to disobedience and defiance (which should be reserved for extreme cases like abuse or neglect).



Insanity

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Re: Overheard at Work
« Reply #1923 on: March 03, 2014, 12:29:52 PM »
A co-worker recently complained about her teenage son.  See, he just recently got a car (used, Dodge I think, on mom and dad's dime), and he wanted to change the oil himself.  She specifically gave him $40 to go get the oil changed because she didn't want him to change it himself.  Even though he took some sort of auto machine class in high school, and he was dying to do it.  Her reasons:  He just doesn't understand how expensive it will be.  He will need to buy the oil and filter.  He will need to buy special tools, and then he will need to pay to dispose of it!

She got mad, though, because he changed it himself anyway!  I say, good for him!
Wow, that's terrible parenting. Things that promote self-reliance and understanding of everyday objects like this should be encouraged, even if it costs a little more. Not that that's even the case here... aside from maybe $20 one time upfront fee for jack stands.

 
We know it's not necessary to let the experts change the oil, but this parent doesn't. Fine. No human is omniscient.

There are plenty of ways the kid could have respectfully educated his parents, including having the instructor -an expert- from that auto class talk to his mom to reassure her that it's perfectly fine for a non-professional to change fluids in the car.

Although learning self-reliance is great, the kid can also learn to get his way, with the approval of his parents, without leaping straight to disobedience and defiance (which should be reserved for extreme cases like abuse or neglect).

It's the kid's car, the kid has a driver's license, if the kid breaks it is his issue to deal with at that point. 

That's how my parents dealt with it every time I went against their "order" and broke something.  It wasn't about defiance, it was about seeing what I could do.  And I had to replace a few computer components as a result of it ;)

grantmeaname

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Re: Overheard at Work
« Reply #1924 on: March 03, 2014, 04:55:45 PM »
Although learning self-reliance is great, the kid can also learn to get his way, with the approval of his parents, without leaping straight to disobedience and defiance (which should be reserved for extreme cases like abuse or neglect).
Glad I'm not your kid.

Fishingmn

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Re: Overheard at Work
« Reply #1925 on: March 03, 2014, 08:46:25 PM »
$1,700 monthly electric bill - Yes , you read that correctly. I didn't hear it, I saw it in the checkbook register of a client of mine. In all fairness, their winter electric bill dropped to only $450 so I guess they were conserving (WTF?). I've been to their house (ehem, castle) which is about 6,000 sqft, and they have a pool, and a poolhouse, but how is this even possible? This is for an elderly (70 ish) couple with no one else living in the house.

That is a ginormous bill, our home is also 6k Sq Ft but no pool and our biggest bill was $400, and I want to punch myself for that one.

Maybe they hadn't paid their electric bill for a few months? 

Jack

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Re: Overheard at Work
« Reply #1926 on: March 03, 2014, 08:50:30 PM »
A co-worker recently complained about her teenage son.  See, he just recently got a car (used, Dodge I think, on mom and dad's dime), and he wanted to change the oil himself.  She specifically gave him $40 to go get the oil changed because she didn't want him to change it himself.  Even though he took some sort of auto machine class in high school, and he was dying to do it.  Her reasons:  He just doesn't understand how expensive it will be.  He will need to buy the oil and filter.  He will need to buy special tools, and then he will need to pay to dispose of it!

She got mad, though, because he changed it himself anyway!  I say, good for him!
Wow, that's terrible parenting. Things that promote self-reliance and understanding of everyday objects like this should be encouraged, even if it costs a little more. Not that that's even the case here... aside from maybe $20 one time upfront fee for jack stands.

My parents were like that. I grew up to be an engineer in spite of it, but I wonder how much better off I would have been if they'd let me do more tinkering as a kid...

Cheddar Stacker

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Re: Overheard at Work
« Reply #1927 on: March 03, 2014, 09:53:33 PM »
$1,700 monthly electric bill - Yes , you read that correctly. I didn't hear it, I saw it in the checkbook register of a client of mine. In all fairness, their winter electric bill dropped to only $450 so I guess they were conserving (WTF?). I've been to their house (ehem, castle) which is about 6,000 sqft, and they have a pool, and a poolhouse, but how is this even possible? This is for an elderly (70 ish) couple with no one else living in the house.

That is a ginormous bill, our home is also 6k Sq Ft but no pool and our biggest bill was $400, and I want to punch myself for that one.

Maybe they hadn't paid their electric bill for a few months?

That would make some sense right, but nope, this was every month for 4-5 months in a row during the summer, then it slowly dwindled down to a measily $450 for the winter while their gas bill went through the roof.

HappierAtHome

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Re: Overheard at Work
« Reply #1928 on: March 03, 2014, 10:14:01 PM »
"I save 42% of my income" - one of my colleagues. She was (understandably) very proud, and asked me how I save 85%. Totally ripe for conversion to MMM.

dragoncar

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Re: Overheard at Work
« Reply #1929 on: March 03, 2014, 11:02:48 PM »
"I save 42% of my income" - one of my colleagues. She was (understandably) very proud, and asked me how I save 85%. Totally ripe for conversion to MMM.

Conversion?  That's about the average rate around here. 

HappierAtHome

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Re: Overheard at Work
« Reply #1930 on: March 03, 2014, 11:12:02 PM »
"I save 42% of my income" - one of my colleagues. She was (understandably) very proud, and asked me how I save 85%. Totally ripe for conversion to MMM.

Conversion?  That's about the average rate around here.

That's what I mean! She's clearly one of us and she just doesn't know it yet :-)

I should have guessed, though, because she does ride her bike to work and live in a share house.

mgarl10024

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Re: Overheard at Work
« Reply #1931 on: March 04, 2014, 02:05:33 AM »
A couple who are friends of my parents (50/60s) are buying a house.  Financially, they are very timid and outdated - they aren't online, never shop around for utilities, and are probably with the same bank and insurer for the last 30 years, probably paying a fortune for not shopping around.
The house purchase has meant that they need to consider getting a mortgage, and they came to me as whilst I am not a trained advisor, I know a bit about finances.  They were saying how they wanted to go into a local branch of their bank as they valued having that face-face contact.  I strongly advised them against this - the people in the bank branches here in the UK are effectively sales people and will only offer products by that bank.  They may even be on commission which could affect their judgement - we've had a lot of scandals where customers were offered inappropriate products that came with high commission for the 'advisor'.  I strongly advised them to use an independent broker (preferably more than one), get quotes, and go from there - a broker can check the whole market and can help the process along if they are timid.
Their response?  They've booked appointments with three local bank branches for next week, and no broker appointments. 
*facepalm* You just can't help some people.  Makes me wonder why they asked for advice if they'd already made up their mind.  This decision alone could cost them thousands.

dragoncar

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Re: Overheard at Work
« Reply #1932 on: March 04, 2014, 02:15:20 AM »
A couple who are friends of my parents (50/60s) are buying a house.  Financially, they are very timid and outdated - they aren't online, never shop around for utilities, and are probably with the same bank and insurer for the last 30 years, probably paying a fortune for not shopping around.
The house purchase has meant that they need to consider getting a mortgage, and they came to me as whilst I am not a trained advisor, I know a bit about finances.  They were saying how they wanted to go into a local branch of their bank as they valued having that face-face contact.  I strongly advised them against this - the people in the bank branches here in the UK are effectively sales people and will only offer products by that bank.  They may even be on commission which could affect their judgement - we've had a lot of scandals where customers were offered inappropriate products that came with high commission for the 'advisor'.  I strongly advised them to use an independent broker (preferably more than one), get quotes, and go from there - a broker can check the whole market and can help the process along if they are timid.
Their response?  They've booked appointments with three local bank branches for next week, and no broker appointments. 
*facepalm* You just can't help some people.  Makes me wonder why they asked for advice if they'd already made up their mind.  This decision alone could cost them thousands.

I heard that banks offer basically the same products as brokers.  It makes sense to shop around, but is going to three banks really worse than brokers?

kt

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Re: Overheard at Work
« Reply #1933 on: March 04, 2014, 02:26:25 AM »
A couple who are friends of my parents (50/60s) are buying a house.  Financially, they are very timid and outdated - they aren't online, never shop around for utilities, and are probably with the same bank and insurer for the last 30 years, probably paying a fortune for not shopping around.
The house purchase has meant that they need to consider getting a mortgage, and they came to me as whilst I am not a trained advisor, I know a bit about finances.  They were saying how they wanted to go into a local branch of their bank as they valued having that face-face contact.  I strongly advised them against this - the people in the bank branches here in the UK are effectively sales people and will only offer products by that bank.  They may even be on commission which could affect their judgement - we've had a lot of scandals where customers were offered inappropriate products that came with high commission for the 'advisor'.  I strongly advised them to use an independent broker (preferably more than one), get quotes, and go from there - a broker can check the whole market and can help the process along if they are timid.
Their response?  They've booked appointments with three local bank branches for next week, and no broker appointments. 
*facepalm* You just can't help some people.  Makes me wonder why they asked for advice if they'd already made up their mind.  This decision alone could cost them thousands.

I heard that banks offer basically the same products as brokers.  It makes sense to shop around, but is going to three banks really worse than brokers?

brokers can look at the whole market, all of the numerous offerings from all banks and building societies. If you go to a bank, they will only advise you on their deals. They are sales people for their bank. Going to three is better than one but I can easily think of 9 banks off the top of my head so they're missing a huge number of products which, though fairly similar, may be much better on such a long term item.

if they value face-to-face contact i'm sure they can meet up with a whole-of-market broker in person. we are planning to in a few weeks.

mgarl10024

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Re: Overheard at Work
« Reply #1934 on: March 04, 2014, 02:29:41 AM »
I heard that banks offer basically the same products as brokers.  It makes sense to shop around, but is going to three banks really worse than brokers?

In my opinion, yes.  For two reasons.
1) The banks are often not allowed to offer advice.  They can tell you about the products, and hand you all the leaflets, but you have to make the decision.  This is not ideal for these people who don't really know what they are doing.  A broker can offer an advised service and can assist the process along.
2) The brokers can access many more mortgage deals from hundreds of suppliers (not just 3 banks).  Some of the deals they can access aren't available on the high-street regardless of the number of banks you go to.  Branches have to be really conservative and cautious because a mortgage default looks really bad on their books, so a broker can help get more borrowing if needed.  Finally, I was in the odd situation where I sat in a branch of my local bank as an existing mortgage customer and he offered x rate, and then I went through a broker who could access a lower rate with the same bank.

frugledoc

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Re: Overheard at Work
« Reply #1935 on: March 04, 2014, 03:21:16 AM »
Not using a whole of market broker could lose them thousands a year easily.

If the three banks they go to are not offering market leading deals the interest rate could vary by 3%

Silvie

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Re: Overheard at Work
« Reply #1936 on: March 04, 2014, 04:11:22 AM »
One of my co-workers eats at restaurants everyday because he "doesn't know how to cook". OMG!

dragoncar

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Re: Overheard at Work
« Reply #1937 on: March 04, 2014, 04:40:32 AM »
Not using a whole of market broker could lose them thousands a year easily.

If the three banks they go to are not offering market leading deals the interest rate could vary by 3%

Maybe this is a us vs uk thing.  No way in the us a bank would be 3% off a broker.  All lenders are basically fronts for Fannie Mae anyways.... Almost every mortgage is sold within a few weeks.

But thanks for the input.   I'll have to verify my assumptions above.  Those have been gleaned rom the intarwebs and may very well be incorrect.

Nudelkopf

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Re: Overheard at Work
« Reply #1938 on: March 04, 2014, 05:17:44 AM »
This is a GOOD overheard at work story! After telling my boss & coworkers how much I love using spreadsheets, my boss came into work today to tell me he set up a spreadsheet to track his expenses! Yay!

wakkowarner

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Re: Overheard at Work
« Reply #1939 on: March 04, 2014, 10:21:48 AM »
For hangovers, drink some coconut water before you go to bed.

I was going to suggest this too, glad to see others know this trick.  It works great.  Main reason is that hangovers are due to dehydration, and coconut water is a fantastic hydrator!

tariskat

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Re: Overheard at Work
« Reply #1940 on: March 04, 2014, 10:50:15 AM »
^ so is water...

rocksinmyhead

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Re: Overheard at Work
« Reply #1941 on: March 04, 2014, 11:10:33 AM »
yeah but I find that I need electrolytes or I'm just gonna pee that water right back out. hence coconut water/gatorade/electrolyte capsules, for hangovers or rehydrating after sweating a lot

(sorry, totally off-topic)

tariskat

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Re: Overheard at Work
« Reply #1942 on: March 04, 2014, 01:01:27 PM »
Perhaps my youthful liver will need it in the future, but for now I'm good with the tap :)

ducky19

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Re: Overheard at Work
« Reply #1943 on: March 04, 2014, 01:04:50 PM »
Yesterday had a conversation with a girl who works for me excitedly telling me how she just sunk her ass $27,000 in debt for a 2013 Ford Edge Limited Edition that she will be driving alone - even though her husband works in the same building!  Today had another guy who works for me tell me about what a great deal he got on his $1600 washer/dryer set - WTF!?!  That thing better do more than wash & dry my clothes (if you know what I mean).

fantabulous

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Re: Overheard at Work
« Reply #1944 on: March 04, 2014, 02:17:21 PM »
Yesterday had a conversation with a girl who works for me excitedly telling me how she just sunk her ass $27,000 in debt for a 2013 Ford Edge Limited Edition that she will be driving alone - even though her husband works in the same building!  Today had another guy who works for me tell me about what a great deal he got on his $1600 washer/dryer set - WTF!?!  That thing better do more than wash & dry my clothes (if you know what I mean).

I think I know what you mean. But I thought that the robotics necessary to sort and fold clothing was way more than $1600. I doubt it was that great of a deal.

lithy

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Re: Overheard at Work
« Reply #1945 on: March 04, 2014, 04:22:02 PM »
Yesterday had a conversation with a girl who works for me excitedly telling me how she just sunk her ass $27,000 in debt for a 2013 Ford Edge Limited Edition that she will be driving alone - even though her husband works in the same building!

How timely. 

http://www.nbcnews.com/business/consumer/americans-borrow-record-amounts-buy-autos-n43906

She is perfectly average according to this article.

I can't imagine borrowing 27k for a car.  I only borrowed twice that for my house.  Although I imagine I'm not as averse to living out of my car as many people borrowing 27k one are.

dragoncar

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Re: Overheard at Work
« Reply #1946 on: March 04, 2014, 04:54:35 PM »
yeah but I find that I need electrolytes or I'm just gonna pee that water right back out. hence coconut water/gatorade/electrolyte capsules, for hangovers or rehydrating after sweating a lot

(sorry, totally off-topic)



https://www.youtube.com/watch?v=g5Q-yNNu-tM
« Last Edit: March 04, 2014, 04:57:28 PM by dragoncar »

odput

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Re: Overheard at Work
« Reply #1947 on: March 05, 2014, 07:38:41 AM »
Yesterday had a conversation with a girl who works for me excitedly telling me how she just sunk her ass $27,000 in debt for a 2013 Ford Edge Limited Edition that she will be driving alone - even though her husband works in the same building!

How timely. 

http://www.nbcnews.com/business/consumer/americans-borrow-record-amounts-buy-autos-n43906

She is perfectly average according to this article.

I can't imagine borrowing 27k for a car.  I only borrowed twice that for my house.  Although I imagine I'm not as averse to living out of my car as many people borrowing 27k one are.

Anyone else find these things horrifying?

Quote from: article
According to Experian, a record 20 percent of all new car auto loans in the fourth quarter were more than six years in length.
and
Quote from: article
The average transaction price—or the amount buyers are paying at dealerships—climbed 1.9 percent to $32,160 in February

That is just crazy!

mgreczyn

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Re: Overheard at Work
« Reply #1948 on: March 05, 2014, 10:44:24 AM »
yeah but I find that I need electrolytes or I'm just gonna pee that water right back out. hence coconut water/gatorade/electrolyte capsules, for hangovers or rehydrating after sweating a lot

(sorry, totally off-topic)



https://www.youtube.com/watch?v=g5Q-yNNu-tM
One of the most under appreciated movies ever made.  Probably hits way too close to home for most Americans for comfort.

ketchup

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Re: Overheard at Work
« Reply #1949 on: March 05, 2014, 12:52:27 PM »
Coworker is finally selling is Porsche.  I naively thought "Wow, good for him; he can finally unlock that equity get something reasonable like an adult."  He's picking up his 2014 Dodge Challenger on Friday.