Author Topic: Overheard at Work  (Read 6638210 times)

mm1970

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Re: Overheard at Work
« Reply #19400 on: December 06, 2017, 01:14:08 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

RidetheRain

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Re: Overheard at Work
« Reply #19401 on: December 06, 2017, 01:49:00 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

My tree is $65 and I'm really excited for a long distance move that will justify tossing it and getting a fresh $65 tree!
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MgoSam

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Re: Overheard at Work
« Reply #19402 on: December 06, 2017, 02:46:01 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

My tree is $65 and I'm really excited for a long distance move that will justify tossing it and getting a fresh $65 tree!

I don't care for a tree in my house but I did enjoy setting up the fake tree we had each year with my siblings. My mom would just buy a tree every few years after Christmas.  I know shocking......., I bet no one on MMM ever thought to do that ;-).

Apple_Tango

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Re: Overheard at Work
« Reply #19403 on: December 06, 2017, 04:32:31 PM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program. 
It's a lateral freeze down during the melt up.  Soon to be followed by the transverse falling bounce and the transient index inversion short, both of which are also strong sell signals in this buyer's market.

RidetheRain

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Re: Overheard at Work
« Reply #19404 on: December 06, 2017, 05:47:27 PM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

Ouch. That hurts. I had a friend say something similar and I made a joke that 30-yr mortgages do seem like forever. They definitely looked at me like I was crazy. Apparently, mortgage debt wasn't the kind of debt they were thinking about... oops...
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Linda_Norway

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Re: Overheard at Work
« Reply #19405 on: December 08, 2017, 01:18:12 AM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

This sounds like a very good advise, to get her started somewhere.

But let's hope she prioritizes paying off her hair-burning debts first.

My DH has read a newspaper article that suggested that our society today is causing people to easily get in a difficult situation. If you start with consumer debt, and of course only pay the minimum amounts, the debt will grow enormously and it might seem impossible for people to come out of it.
There might be something to it. Back in time people didn't have credit cards and wouldn't be granted a loan for buying stuff they don't need. Nowadays those people get encouraged to get credit cards. You even get rewarded for it.

shelivesthedream

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Re: Overheard at Work
« Reply #19406 on: December 08, 2017, 01:33:21 AM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

This sounds like a very good advise, to get her started somewhere.

But let's hope she prioritizes paying off her hair-burning debts first.

My DH has read a newspaper article that suggested that our society today is causing people to easily get in a difficult situation. If you start with consumer debt, and of course only pay the minimum amounts, the debt will grow enormously and it might seem impossible for people to come out of it.
There might be something to it. Back in time people didn't have credit cards and wouldn't be granted a loan for buying stuff they don't need. Nowadays those people get encouraged to get credit cards. You even get rewarded for it.

I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

Playing with Fire UK

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Re: Overheard at Work
« Reply #19407 on: December 08, 2017, 02:17:57 AM »
I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

I would strongly support this. Maybe it could look similar to the fridge efficiency traffic-light charts, but instead of a deep red colour, it has a picture of a shark carrying a baseball bat.

Having said that: how messed up are the collective priorities when it is mandatory to have an incredibly intuitive sticker on a fridge, but not the eye-wateringly expensive rent-to-buy agreement to buy the fridge. When Mustachians come to power I will nominate @shelivesthedream as the Minister of Finance.

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Re: Overheard at Work
« Reply #19408 on: December 08, 2017, 02:51:14 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,

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Linda_Norway

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Re: Overheard at Work
« Reply #19409 on: December 08, 2017, 02:55:47 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Wow! Smart!

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shelivesthedream

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Re: Overheard at Work
« Reply #19410 on: December 08, 2017, 03:32:51 AM »
I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

I would strongly support this. Maybe it could look similar to the fridge efficiency traffic-light charts, but instead of a deep red colour, it has a picture of a shark carrying a baseball bat.

Having said that: how messed up are the collective priorities when it is mandatory to have an incredibly intuitive sticker on a fridge, but not the eye-wateringly expensive rent-to-buy agreement to buy the fridge. When Mustachians come to power I will nominate @shelivesthedream as the Minister of Finance.

I had a brief but surprisingly successful flutter with politics at university but ultimately decided my heart wasn't in it. It just isn't the best politicians and policies who get elected and I couldn't get on board with all the stuff you have to do that isn't "governing the country better". That said, when we settle down somewhere I might consider standing as a local councillor. But there isn't a party I feel I could affiliate with and it's a lot of personal work to get elected as an independent.

shelivesthedream

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Re: Overheard at Work
« Reply #19411 on: December 08, 2017, 03:34:09 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Whoever designed that logo should get some kind of Mustachian Nobel Personal Finance Prize!

partgypsy

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Re: Overheard at Work
« Reply #19412 on: December 08, 2017, 06:08:21 AM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the corrected- EARLY 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
« Last Edit: January 02, 2018, 11:51:01 AM by partgypsy »

leviticus

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Re: Overheard at Work
« Reply #19413 on: December 08, 2017, 07:14:08 AM »
Finally managed to read the whole thread (it only took a month or so), and honestly I learnt a lot, particularly that my colleagues don't talk about money and the only anti-mustachian thing they seem to do is buy lunch in the work canteen every day.

BuffaloStache

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Re: Overheard at Work
« Reply #19414 on: December 08, 2017, 09:24:30 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Whoever designed that logo should get some kind of Mustachian Nobel Personal Finance Prize!

Brilliant!
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Inaya

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Re: Overheard at Work
« Reply #19415 on: December 08, 2017, 12:24:00 PM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
You have to have debt before they'll let you go into debt. When I graduated from college in 2011, with a job, nobody would give me a credit card. Then I bought a pickup truck with an auto loan co-signed by my dad (who has spectacular credit). (Pre-Mustache days, and I sold that truck after a year, but I still miss it.) I had no trouble getting the next credit card I applied for after that auto loan.
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Just Joe

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Re: Overheard at Work
« Reply #19416 on: December 08, 2017, 12:37:10 PM »
Coworker is displeased with the MPG of their daily driver SUV.

Coworker lives so close to work that they could walk or bicycle so the miles driven weekly must be low.

Coworker admits the vehicle is otherwise fine and will last many years. Plans to buy something new or newish.

Coworker plans to give the vehicle to the child going away to college who will presumably be driving alot more than coworker and the coworker will still be paying for the fuel it consumes.

That's some fuzzy logic. Don't know why coworker shares this info with me. I never asked. ;)

RyanAtTanagra

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Re: Overheard at Work
« Reply #19417 on: December 08, 2017, 12:39:59 PM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
You have to have debt before they'll let you go into debt. When I graduated from college in 2011, with a job, nobody would give me a credit card. Then I bought a pickup truck with an auto loan co-signed by my dad (who has spectacular credit). (Pre-Mustache days, and I sold that truck after a year, but I still miss it.) I had no trouble getting the next credit card I applied for after that auto loan.

Wonder why both your experiences are so different from mine.  I went to college in 1997, same time partygypsy got out, and I got a bunch of free tshirts.  Had to do a lot of CC cancellations when I ran my credit report for the first time 10 years later.  Had no credit to start with.

RyanAtTanagra

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Re: Overheard at Work
« Reply #19418 on: December 08, 2017, 12:41:51 PM »
Coworker plans to give the vehicle to the child ... and the coworker will still be paying for the fuel it consumes.

That part alone is 'wtf?' enough

RidetheRain

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Re: Overheard at Work
« Reply #19419 on: December 08, 2017, 01:08:11 PM »
Coworker plans to give the vehicle to the child ... and the coworker will still be paying for the fuel it consumes.

That part alone is 'wtf?' enough

Lol this happened to me. My parents wanted a two-seater car so they leased a very fancy Audi convertible. At the end of the lease, I got the worlds biggest guilt trip when I told them that I had no intention of buying it and taking it to college. They offered to pay insurance and gas on it. Their logic was that I needed a car after my junker car was hit while parked on the street. After the year or two of them paying the ridiculous insurance and gas on this car, I would have had to pay it :P plus of course the cost of the car. And whatever repairs when it inevitably gets hit by some college idiot. They still rag on me for giving it up.
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GnomeErcy

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Re: Overheard at Work
« Reply #19420 on: December 08, 2017, 01:32:31 PM »
Coworker got rear-ended on his way in to work today. I didn't see any pictures but it can't be that bad since he still came in and just had a little bit of a sore back.

He said he's going to go buy a brand new car over the weekend.

Even if it was totaled...brand new...ugh.

SMH.

Roe

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Re: Overheard at Work
« Reply #19421 on: December 09, 2017, 05:56:51 PM »
Finally managed to read the whole thread (it only took a month or so), and honestly I learnt a lot, particularly that my colleagues don't talk about money and the only anti-mustachian thing they seem to do is buy lunch in the work canteen every day.

Congrats, it's some achievement getting through this behemoth of a thread. I tried, but skipped as much foam as I could.

What dwells below... I thought the same at first, but now that im listening for it I hear much more anti-mustachian stuff than before.
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chaskavitch

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Re: Overheard at Work
« Reply #19422 on: December 10, 2017, 06:14:26 AM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
You have to have debt before they'll let you go into debt. When I graduated from college in 2011, with a job, nobody would give me a credit card. Then I bought a pickup truck with an auto loan co-signed by my dad (who has spectacular credit). (Pre-Mustache days, and I sold that truck after a year, but I still miss it.) I had no trouble getting the next credit card I applied for after that auto loan.

Wonder why both your experiences are so different from mine.  I went to college in 1997, same time partygypsy got out, and I got a bunch of free tshirts.  Had to do a lot of CC cancellations when I ran my credit report for the first time 10 years later.  Had no credit to start with.

Seriously.  I didn't go to college until 2003, but right after I turned 18 I *accidentally* signed up for an Old Navy card because I thought it was like a King Soopers card where you got rewards and stuff.  I had to get my dad to help me cancel it, I had no idea how to do that.  And then I got suckered in by the free tshirt scam in college and ended up in $4000 of "gas and grocery" debt.

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Re: Overheard at Work
« Reply #19423 on: December 10, 2017, 08:59:12 AM »
And then I got suckered in by the free tshirt scam in college and ended up in $4000 of "gas and grocery" debt.

Those credit cards didn't come with $4000 of gas and grocery debt.  You added that all by yourself.  Accept responsibility. :)

chaskavitch

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Re: Overheard at Work
« Reply #19424 on: December 10, 2017, 11:11:00 AM »
And then I got suckered in by the free tshirt scam in college and ended up in $4000 of "gas and grocery" debt.

Those credit cards didn't come with $4000 of gas and grocery debt.  You added that all by yourself.  Accept responsibility. :)

Oh, I know.  When I got the card I told myself I'd only use it for gas and groceries, which I was obviously going to buy anyhow, so I could obviously afford to pay off :)  And then I just kept buying little extra things here and there, which never seemed to cost very much at all, and next thing I knew, $4000.

It took me a good year to pay it off working summers and part time during college, but it made me far more responsible in the long run. 

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Re: Overheard at Work
« Reply #19425 on: December 11, 2017, 12:02:18 PM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.

I applied for my first credit card a little over a year ago when I graduated college to start building credit.  I had 20k saved up and was making about 60k a year.  I was approved for a card with a limit of $500 a month and if I made all my payments for 6 months it would go to $1000 a month.  My girlfriend had a card with a limit of $10,000 a month making half what I made a year.  It blew my mind. 

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Re: Overheard at Work
« Reply #19426 on: December 12, 2017, 07:38:16 AM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.

I applied for my first credit card a little over a year ago when I graduated college to start building credit.  I had 20k saved up and was making about 60k a year.  I was approved for a card with a limit of $500 a month and if I made all my payments for 6 months it would go to $1000 a month.  My girlfriend had a card with a limit of $10,000 a month making half what I made a year.  It blew my mind.

Every company is different, and every card program is different, but negotiation can also make a difference. Around the time I finished college and joined the USAF as an officer, I applied for a card from Capital One and got a limit of around $400, IIRC. At the time, that was two or three days' pay. I called them to say the purchasing power was insufficient to even make it worth having the card, and that I was therefore cancelling my new account, and they bumped it up substantially to change my mind. It's been too long to remember exactly, but maybe $1200?

I had had a couple of cards in college, way too easy to get, like some describe here, and I didn't manage them well. That probably had something to do with the low limit. It surprised me how easy it was to talk them into a higher one.
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zolotiyeruki

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Re: Overheard at Work
« Reply #19427 on: December 12, 2017, 08:06:52 AM »
When DW and I got married in college, we figured we'd need some sort of credit history when we graduated in order to buy a house.  We got a card with a $500 limit, and we basically just used it for groceries for a couple years until we graduated.  It was good enough to get us our first mortgage.

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Re: Overheard at Work
« Reply #19428 on: December 12, 2017, 10:10:03 AM »
I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.

OTOH, back in my day, when I graduated from college I could rent an apartment in a strange city with no credit history.  I get the impression that it's a lot harder to find housing unless you have a good credit score.  And if you want to buy a house any time soon, the longer your credit history, the better.

Brian McMan

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Re: Overheard at Work
« Reply #19429 on: December 12, 2017, 01:28:45 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

OMG I"m so sorry to hear that you got fired. 

ketchup

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Re: Overheard at Work
« Reply #19430 on: December 12, 2017, 01:31:48 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

OMG I"m so sorry to hear that you got fired.
I see you're new here.  FIRE: Financially Independent, Retired Early. :)

Brian McMan

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Re: Overheard at Work
« Reply #19431 on: December 12, 2017, 01:37:54 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

OMG I"m so sorry to hear that you got fired.
I see you're new here.  FIRE: Financially Independent, Retired Early. :)

But what is the D?

GnomeErcy

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Re: Overheard at Work
« Reply #19432 on: December 12, 2017, 01:51:14 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

OMG I"m so sorry to hear that you got fired.
I see you're new here.  FIRE: Financially Independent, Retired Early. :)

But what is the D?

Can't tell if trolling or not....but I'll bite.

FIRE = Finance Independence, Retire Early
FIRED = past tense, as in he has become financially independent and actually did retire early.

Brian McMan

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Re: Overheard at Work
« Reply #19433 on: December 12, 2017, 02:29:19 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

OMG I"m so sorry to hear that you got fired.
I see you're new here.  FIRE: Financially Independent, Retired Early. :)

But what is the D?

Can't tell if trolling or not....but I'll bite.

FIRE = Finance Independence, Retire Early
FIRED = past tense, as in he has become financially independent and actually did retire early.

Oh I facepalmed.  Past tense...of course it is.

Ok I'll bite too.  My boss recently sold his car to a coworker for 100 USD and bought a new car.  His reason?  Oh well I had to take it in for repairs and you know how once one thing needs fixed on a vehicle it'll just happen again and more things will need fixed.  Supposedly it had less than 50K miles on it.  In the past he also gave away his leather couch because it was getting old.  In its place he got a new...leather couch. 

ketchup

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Re: Overheard at Work
« Reply #19434 on: December 12, 2017, 02:43:59 PM »
Ok I'll bite too.  My boss recently sold his car to a coworker for 100 USD and bought a new car.  His reason?  Oh well I had to take it in for repairs and you know how once one thing needs fixed on a vehicle it'll just happen again and more things will need fixed.  Supposedly it had less than 50K miles on it.  In the past he also gave away his leather couch because it was getting old.  In its place he got a new...leather couch.
Care to let me know when his next new car is nearing 50k miles? 

I used to have a friend from high school I'd meet up with every two years to buy his "old" smartphone from him for $20.  Unfortunately, he's now come to his senses.

Brian McMan

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Re: Overheard at Work
« Reply #19435 on: December 12, 2017, 03:25:27 PM »
Ok I'll bite too.  My boss recently sold his car to a coworker for 100 USD and bought a new car.  His reason?  Oh well I had to take it in for repairs and you know how once one thing needs fixed on a vehicle it'll just happen again and more things will need fixed.  Supposedly it had less than 50K miles on it.  In the past he also gave away his leather couch because it was getting old.  In its place he got a new...leather couch.
Care to let me know when his next new car is nearing 50k miles? 

I used to have a friend from high school I'd meet up with every two years to buy his "old" smartphone from him for $20.  Unfortunately, he's now come to his senses.

LOL you sound like such a good friend :-)

I can so relate to you, see my coworkers are so proud of their smart phones, even though they can't come up with any money for the 401k match.  They're all like, but I wouldn't have any money!!  So I broke down and got the cheapest smart phone I could...can't even find the alarm only volume option on this thing, boy is it dumb.  Whats worse is the boss calls them at like 7 or 8 pm on friday nights to talk about work, so like yeah you're gonna take money out of your retirement to buy a fancy phone to talk about work after hours?  That's backwards!

RidetheRain

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Re: Overheard at Work
« Reply #19436 on: December 12, 2017, 03:39:27 PM »
Ok I'll bite too.  My boss recently sold his car to a coworker for 100 USD and bought a new car.  His reason?  Oh well I had to take it in for repairs and you know how once one thing needs fixed on a vehicle it'll just happen again and more things will need fixed.  Supposedly it had less than 50K miles on it.  In the past he also gave away his leather couch because it was getting old.  In its place he got a new...leather couch.
Care to let me know when his next new car is nearing 50k miles? 

I used to have a friend from high school I'd meet up with every two years to buy his "old" smartphone from him for $20.  Unfortunately, he's now come to his senses.

LOL you sound like such a good friend :-)

I can so relate to you, see my coworkers are so proud of their smart phones, even though they can't come up with any money for the 401k match.  They're all like, but I wouldn't have any money!!  So I broke down and got the cheapest smart phone I could...can't even find the alarm only volume option on this thing, boy is it dumb.  Whats worse is the boss calls them at like 7 or 8 pm on friday nights to talk about work, so like yeah you're gonna take money out of your retirement to buy a fancy phone to talk about work after hours?  That's backwards!

Now that's just poor work life balance management. My boss tried to call unexpectedly after hours and I told her point blank that if they were going to call my personal cell phone then they were going to pay for my personal cell phone. It backfired a little - they paid for my cell phone.
See my journal

Greenback Reproduction Specialist

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Re: Overheard at Work
« Reply #19437 on: December 12, 2017, 04:05:47 PM »
Overheard this in the hallway today, couldn't help but laugh a little inside.... I don't know why or what they were talking about.

Person 1: "A million particles all bursting at the speed of light?"
Person 2: "Basically yea…."
Person 3: "So we should all just go home, haha"
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FIRE.... Remember, it's closer than it feels.


JAYSLOL

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Re: Overheard at Work
« Reply #19438 on: December 12, 2017, 07:47:12 PM »
Overheard this in the hallway today, couldn't help but laugh a little inside.... I don't know why or what they were talking about.

Person 1: "A million particles all bursting at the speed of light?"
Person 2: "Basically yea…."
Person 3: "So we should all just go home, haha"

That could only be one of two things, absolutely nothing, or something really, REALLY important.  And nothing in between.

dragoncar

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Re: Overheard at Work
« Reply #19439 on: December 12, 2017, 09:01:37 PM »
Overheard this in the hallway today, couldn't help but laugh a little inside.... I don't know why or what they were talking about.

Person 1: "A million particles all bursting at the speed of light?"
Person 2: "Basically yea…."
Person 3: "So we should all just go home, haha"

That could only be one of two things, absolutely nothing, or something really, REALLY important.  And nothing in between.

Sounds like total protonic reversal to me

mustachepungoeshere

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Re: Overheard at Work
« Reply #19440 on: December 12, 2017, 09:09:08 PM »
I can so relate to you, see my coworkers are so proud of their smart phones, even though they can't come up with any money for the 401k match.  They're all like, but I wouldn't have any money!!  So I broke down and got the cheapest smart phone I could...can't even find the alarm only volume option on this thing, boy is it dumb.  Whats worse is the boss calls them at like 7 or 8 pm on friday nights to talk about work, so like yeah you're gonna take money out of your retirement to buy a fancy phone to talk about work after hours?  That's backwards!

Now that's just poor work life balance management. My boss tried to call unexpectedly after hours and I told her point blank that if they were going to call my personal cell phone then they were going to pay for my personal cell phone. It backfired a little - they paid for my cell phone.

My boss calls me at 5am or 11pm or any time in between (it's unavoidable, and I get TOIL as compensation). They don't pay for my phone - I claim a portion on tax - but they do use it to scare off young applicants who think they're walking into a cushy office job.

Paul der Krake

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Re: Overheard at Work
« Reply #19441 on: December 12, 2017, 09:36:11 PM »
I can so relate to you, see my coworkers are so proud of their smart phones, even though they can't come up with any money for the 401k match.  They're all like, but I wouldn't have any money!!  So I broke down and got the cheapest smart phone I could...can't even find the alarm only volume option on this thing, boy is it dumb.  Whats worse is the boss calls them at like 7 or 8 pm on friday nights to talk about work, so like yeah you're gonna take money out of your retirement to buy a fancy phone to talk about work after hours?  That's backwards!

Now that's just poor work life balance management. My boss tried to call unexpectedly after hours and I told her point blank that if they were going to call my personal cell phone then they were going to pay for my personal cell phone. It backfired a little - they paid for my cell phone.

My boss calls me at 5am or 11pm or any time in between (it's unavoidable, and I get TOIL as compensation). They don't pay for my phone - I claim a portion on tax - but they do use it to scare off young applicants who think they're walking into a cushy office job.
Nice. I get called at all hours of night and day with no compensation, but at least my phone is free.

dandarc

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Re: Overheard at Work
« Reply #19442 on: December 13, 2017, 09:03:54 AM »
Overheard this in the hallway today, couldn't help but laugh a little inside.... I don't know why or what they were talking about.

Person 1: "A million particles all bursting at the speed of light?"
Person 2: "Basically yea…."
Person 3: "So we should all just go home, haha"

That could only be one of two things, absolutely nothing, or something really, REALLY important.  And nothing in between.

Sounds like total protonic reversal to me
Cats and Dogs living together!  Mass Hysteria!

Greenback's coworkers must have gone with the "go home" option - we're all still here to type about it after all.

economista

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Re: Overheard at Work
« Reply #19443 on: December 13, 2017, 12:34:50 PM »
Coworker: My husband and I got into a huge fight because he won't buy me the 12 months of cheese from Williams Sonoma.  It's $600 which only comes out to $50 per month if you think about it.

Me: Yeah, but then you are paying $50 per month for cheese.

Coworker: I'm already spending $50 per month for cheese, and it isn't as good as Williams Sonoma cheese!

Me: ....speechless.....

 
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MgoSam

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Re: Overheard at Work
« Reply #19444 on: December 13, 2017, 12:39:54 PM »
a. How much cheese is WS sending them each month?
b. Wow, $50/month for cheese. Not judging, some people really love their cheese. Cheese has a holding power that I simply just cannot fathom, I mean just look at this classic commercial...it's logic is impregnable.

https://www.youtube.com/watch?v=_349WJ37lAA

C. I highly doubt the coworker is going to stop buying cheese if she gets WS. That's like a 4 year old me telling my mom, "If you buy ____ I won't complain again."

ohsnap

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Re: Overheard at Work
« Reply #19445 on: December 13, 2017, 01:07:42 PM »
Holy cow, the total cost of this is $660 including the shipping.  Over the course of a year, you get less than 1.5 lb every month for a total of 14lb, 5 oz, which comes to about $46/lb.

Link for any of you who want to order: :D
https://www.williams-sonoma.com/products/twelve-months-of-cheese-hol-17/?pkey=cappetizers-cheese&isx=0.0.1976.6666259765625

RidetheRain

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Re: Overheard at Work
« Reply #19446 on: December 13, 2017, 01:56:51 PM »
Holy cow, the total cost of this is $660 including the shipping.  Over the course of a year, you get less than 1.5 lb every month for a total of 14lb, 5 oz, which comes to about $46/lb.

Link for any of you who want to order: :D
https://www.williams-sonoma.com/products/twelve-months-of-cheese-hol-17/?pkey=cappetizers-cheese&isx=0.0.1976.6666259765625

Just noticed, you don't even get to pick what cheese you get. I couldn't pay that much money for something when I don't even get to pick it out! And I'm a ridiculous cheese person - I drive out to a cheese factory special to get it like a proper cheesehead! And it's still ridiculous!
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Dollar Slice

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Re: Overheard at Work
« Reply #19447 on: December 13, 2017, 02:08:10 PM »
Holy cow, the total cost of this is $660 including the shipping.  Over the course of a year, you get less than 1.5 lb every month for a total of 14lb, 5 oz, which comes to about $46/lb.

Link for any of you who want to order: :D
https://www.williams-sonoma.com/products/twelve-months-of-cheese-hol-17/?pkey=cappetizers-cheese&isx=0.0.1976.6666259765625

I wonder if the free shipping code works on that. There's also a code for 25% off $1000 so you could get two years of cheese for just $750! (Is anyone else crying inside that someone, somewhere, thought of and implemented a percent-off-$1000 promo code on a website?)
Referrals for...
Prolific Academic: http://www.prolific.ac/rp?ref=3PJ4H43L (Earn money by taking academic surveys - way better than mturk, I average ~$9/hr)
Robinhood: http://bit.ly/2uGXBPG (Get a free stock!)

ixtap

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Re: Overheard at Work
« Reply #19448 on: December 13, 2017, 02:14:27 PM »
You are all.missing the fact that the first month comes with crostini and jelly!

I wonder how many people who order this are missing out that most months do not.

spjulep

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Re: Overheard at Work
« Reply #19449 on: December 13, 2017, 07:09:40 PM »
Me: How was your vacation [to your second home a 4 hour plane ride from here that you do not rent out]?
Coworker's unemployed spouse: Great. I upgraded my ride!
Me: Oh?
Coworker's spouse: Yep my Audi model *something* had too many miles, so I got a model *something else.*
Another coworker: Oh that's great, because you get a great deal on 2018 cars at the end of the year!
Me: [Speechless that anyone would buy a brand new car.] Um, so how did you get it back here?
Coworker's spouse: Oh no, it's staying at the [empty] house in the garage.
Me: Oh, what are you doing with the old car? [Imagining a luxury car would have some resale value.]
Coworker's spouse: [Confused.] No we're keeping it because it is still running.

---
I make the same amount of money as Coworker, and Audis cost like 50-75% of an annual salary.

Rode home on my bike carefree today...