Author Topic: Overheard at Work  (Read 13252973 times)

Chaplin

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Re: Overheard at Work
« Reply #4500 on: October 04, 2014, 06:37:57 PM »
I do think fundraisers during work are awkward because of the pressure to donate, at which point it's not a donation anymore.

Whenever parents come around trying to sell their kids' Girl Guide cookies, I always try to negotiate the price. It never works, but enough people buy them and then leave them out for others to eat that there's no need buy any and actually encourage parents further.

Chaplin

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Re: Overheard at Work
« Reply #4501 on: October 04, 2014, 06:40:27 PM »
Quote
Now the badger song. That I can get behind. Same with the Llama song.

Hamster Dance!

ketchup

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Re: Overheard at Work
« Reply #4502 on: October 04, 2014, 07:03:03 PM »

Everything's shiny, cap'n.

+1
+1.

but argh!  My favorite show is also a favorite of what would have then been a 13 yr old?!    This should be an old person reference.  Maybe I need to grow up :¬}

Brown coats can be any age!
+1. Yes we can.
Sure can.  I would have been 11 when the show aired (2002), but I didn't see it until a year or two ago if that somehow makes it any better.

mm1970

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Re: Overheard at Work
« Reply #4503 on: October 04, 2014, 07:26:10 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)

You don't know stranded in the middle of nowhere until your car dies during a cross-country drive.

Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Unless "middle of nowhere" is something like the yukon, or the haul road up to deadhorse / prudhoe, in which case you are shit outta luck. Get your car checked very well and do preventative maintenance before you do that...
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days

Goldielocks

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Re: Overheard at Work
« Reply #4504 on: October 04, 2014, 07:57:36 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)

You don't know stranded in the middle of nowhere until your car dies during a cross-country drive.

Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Unless "middle of nowhere" is something like the yukon, or the haul road up to deadhorse / prudhoe, in which case you are shit outta luck. Get your car checked very well and do preventative maintenance before you do that...
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days

Ok I looked it up.  How do you get trapped in you car for three days, near shamrock when it appears to be flatish there and less than 20miles between  roads or highways?

Most people would walk out on the second day. 

mm1970

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Re: Overheard at Work
« Reply #4505 on: October 04, 2014, 08:55:00 PM »
Okay, that's really funny!
I'd love to read about bloggers who would make Amy D cry in envy.
The all-time champion of frugality would have to be Dolly Freed of Possum Living, although technically she's not a blogger. 

My top three:
Ellie Kay
EllieKay.com

Mike & Lauren
http://www.mikeandlauren.com/

Johnny & Mrs. Moneyseed
http://www.johnnymoneyseed.com/

Very honorable mention:
Amanda
http://www.frugalconfessions.com/

Abigail
http://ipickuppennies.net/

Andrea
http://savingslifestyle.com/

Andy
http://artofbeingcheap.com/

Ashley
http://moneytalkscoaching.com/

Erin
http://www.myfrugalhome.com/

And for sheer volume:
http://www.wisebread.com/

There are another 50 or so at this list with the "frugality" keyword, although I haven't read much of their blogs:
http://finconexpo.com/attendee-list/
Thanks!!  Totally going to check these out after the kiddos are in bed.

mm1970

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Re: Overheard at Work
« Reply #4506 on: October 04, 2014, 09:08:30 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)
Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Agreed, but for some reason it seems to be a huge fear for a lot of people.  I had a car for about a year that was in such bad condition I told people that whenever I left in it, I never fully expected to get where I was going, which was completely true.  They always looked at me like I was insane for still driving the thing, but accepting and embracing the possibility of breaking down on the road was very liberating.  Every time I felt a weird bump or heard a noise from the engine or underside I'd go 'oh maybe this is finally it!'.  That car sucked in so many ways and I miss it dearly.

My wife had a breakdown in our 2003 Focus two months ago on a lonely stretch of I-5 in Oregon.  It was the first time the car has had a breakdown of any kind and it ended up being a $1000 or so repair bill.  Waiting for the tow truck for over an hour with a 4 year old wasn't fun, but it wasn't the end of the world (forgetting to charge her cellphone came close though).  I was not pleased to spend the money, but most of it was budgeted for and it's still light years ahead of a car payment.  In contrast, one of my subordinates has a large pickup truck that someone backed into just before we deployed so he had to pay for part of that and he's still paying for the vehicle itself.
Not a middle of nowhere breakdown, but...a few years ago my husband had a 1.5 week trip to DC for business.  Rather than fly home for 1.5 days in the middle, we used his miles to fly me and our 5 year old out for a four day weekend.  (We met and got married there, so it was fun, and we stayed with friends.)

Well, I got back after a long day of traveling to CA with my son.  My cell phone (calls only, no texts) was very much almost dead.  I got to my car in long term parking and it wouldn't unlock, much less start.  Turns out that my son had turned on the interior light before we got out.

I was THIS CLOSE to taking the shuttle to the other long term lot to take my husband's car home.  But instead I used the last of the cell juice to call my spouse, who gave me the USAA emergency number.  Waited an hour in the heat of the parking lot for the tow truck to give me a jump THEN drove about 45 minutes through town (it's a 10 minute drive home) to let my son nap and to recharge the battery.  Fun times.

mm1970

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Re: Overheard at Work
« Reply #4507 on: October 04, 2014, 09:11:47 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)

You don't know stranded in the middle of nowhere until your car dies during a cross-country drive.

Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Unless "middle of nowhere" is something like the yukon, or the haul road up to deadhorse / prudhoe, in which case you are shit outta luck. Get your car checked very well and do preventative maintenance before you do that...
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days


Ok I looked it up.  How do you get trapped in you car for three days, near shamrock when it appears to be flatish there and less than 20miles between  roads or highways?

Most people would walk out on the second day.
Well, their van broke down and the nearest place that could fix it was...I dunno, 100 miles away?  I can't remember.  They holed up in a hotel while the van got towed and fixed, then paid a local to drive them to their van.

And it was the middle of summer, so hot.

iris lily

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Re: Overheard at Work
« Reply #4508 on: October 04, 2014, 09:31:36 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)
Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Agreed, but for some reason it seems to be a huge fear for a lot of people.  I had a car for about a year that was in such bad condition I told people that whenever I left in it, I never fully expected to get where I was going, which was completely true.  They always looked at me like I was insane for still driving the thing, but accepting and embracing the possibility of breaking down on the road was very liberating.  Every time I felt a weird bump or heard a noise from the engine or underside I'd go 'oh maybe this is finally it!'.  That car sucked in so many ways and I miss it dearly.

When we last moved we had an old car, and we talked about leaving it along side of the road if it went kerplunk, placing the title son the windshield. haha.

Goldielocks

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Re: Overheard at Work
« Reply #4509 on: October 04, 2014, 09:32:18 PM »
Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)

You don't know stranded in the middle of nowhere until your car dies during a cross-country drive.

Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Unless "middle of nowhere" is something like the yukon, or the haul road up to deadhorse / prudhoe, in which case you are shit outta luck. Get your car checked very well and do preventative maintenance before you do that...
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days


Ok I looked it up.  How do you get trapped in you car for three days, near shamrock when it appears to be flatish there and less than 20miles between  roads or highways?

Most people would walk out on the second day.
Well, their van broke down and the nearest place that could fix it was...I dunno, 100 miles away?  I can't remember.  They holed up in a hotel while the van got towed and fixed, then paid a local to drive them to their van.

And it was the middle of summer, so hot.
Thanks, I thought they were stuck waiting in their car for a passerby to get help.

jordanread

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Re: Overheard at Work
« Reply #4510 on: October 04, 2014, 09:50:03 PM »

Everything's shiny, cap'n.

+1
+1.

but argh!  My favorite show is also a favorite of what would have then been a 13 yr old?!    This should be an old person reference.  Maybe I need to grow up :¬}

Brown coats can be any age!
+1. Yes we can.
Sure can.  I would have been 11 when the show aired (2002), but I didn't see it until a year or two ago if that somehow makes it any better.
That's the second time someone has aged me in the past two weeks.

Albert

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Re: Overheard at Work
« Reply #4511 on: October 05, 2014, 02:02:10 AM »
All this talk about being stranded reminded me of a story from grad school in US. My roommate was driving from Oregon to Las Vegas with his girlfriend for some gambling. Don't remember what his car was, but old for sure. On the way back his car died in a small town in Eastern California. He managed to get it to the nearest mechanic, but turned out that a replacement part had to be ordered with waiting time of 2 weeks. They were 8-9 h drive from nearest friends or relatives. The only way to get out of town a public bus coming three times a week to collect released prisoners from nearby federal prison. Obviously the bus had left few hours ago so they ended staying in a motel for two days, then taking this bus to somewhere on the coast, then Greyhound back to Oregon. A friend then drove him two weeks later to retrieve the car. Not an end of the world of course, but not exactly fun either.

Nothing like this possible here of course. Every hamlet has frequent public transport.

iwasjustwondering

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Re: Overheard at Work
« Reply #4512 on: October 05, 2014, 08:27:07 AM »
I have a happy ending to one of my overheard at work posts!  I had posted about a rewards system we have at work, where you get points and can renew them for consumer items like laptops or jewelry, or cash.  Well, the first time I cashed in my points, I bought a treadmill and ended up having $900 taken out of my next paycheck for the taxes.  It was shocking.  Now, I just exchange them for cash. 

I had posted about my coworker friend, who had thousands of dollars worth of points just sitting in her rewards account.  I had told her she should cash them in, and she said it wasn't worth the effort, and she'd just lose money for taxes anyway.  I told her she could just get cash, and she just waved me away, saying it just wasn't worth it.  She and I have worked on a few projects together, and gotten the same rewards points, so I knew she was sitting on a lot of money.  Finally, last week, we had another chat where the rewards points came up.  I said I was hoping to get a reward for some thing I had just worked on, and she said, as usual, "Those points are worthless anyway."  I said, "No, you can just exchange them for cash."  She *finally* listened.  She told me she had 50,000 points, and I told her that was worth $10,000.  She had no idea how to get to the account, so I showed her the link and walked her through it.  It took about three minutes to turn her points into cash, and yes, she got $10,000, which will appear, minus taxes, in her paycheck a few weeks from now.

I have been trying to tell her about the cash option for a year, but she just wouldn't listen.  I don't know why I kept trying, but I guess I thought it was worth one more shot.  So many people I work with have no clue how much these points are worth, or that there is a cash option.  I have another coworker who is sitting on 85,000 points, but like first coworker, she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

zolotiyeruki

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Re: Overheard at Work
« Reply #4513 on: October 05, 2014, 08:38:18 AM »
I have another coworker who is sitting on 85,000 points, but like first coworker, she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.
Any chance those points are transferrable? :P

horsepoor

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Re: Overheard at Work
« Reply #4514 on: October 05, 2014, 04:44:07 PM »
I have another coworker who is sitting on 85,000 points, but like first coworker, she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.
Any chance those points are transferrable? :P

Yeah, or you could start a service of cashing the points in for a percentage...

hazelkate

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Re: Overheard at Work
« Reply #4515 on: October 05, 2014, 07:19:28 PM »
A co-worker at my part time gig recently finished her Masters program and accepted a great new job. She went from working part time (while also in school part time) earning $14k/year to now earning $55k/year in a her dream job. During her last shift, we had a great discussion about spending habit changes and lifestyle inflation, etc. She talked about how she wanted to keep living frugally even on her new salary so she could pay off her student loans and pay off her lawyer from her recent divorce. We actually had a great talk about values and consumer culture and really connected in a Mustachian kind of way.

One week later, she posted to Facebook next to a brand new Honda CRV at the dealership. "Movin' up in the world!" was her photo title. Then in the comments, she said, "Next on the agenda is a trip to Hawaii with my boy!"

So much for our great discussion...


randymarsh

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Re: Overheard at Work
« Reply #4516 on: October 05, 2014, 09:45:35 PM »
A co-worker at my part time gig recently finished her Masters program and accepted a great new job. She went from working part time (while also in school part time) earning $14k/year to now earning $55k/year in a her dream job. During her last shift, we had a great discussion about spending habit changes and lifestyle inflation, etc. She talked about how she wanted to keep living frugally even on her new salary so she could pay off her student loans and pay off her lawyer from her recent divorce. We actually had a great talk about values and consumer culture and really connected in a Mustachian kind of way.

One week later, she posted to Facebook next to a brand new Honda CRV at the dealership. "Movin' up in the world!" was her photo title. Then in the comments, she said, "Next on the agenda is a trip to Hawaii with my boy!"

So much for our great discussion...

Hopefully it's just a "get it out of your system" thing. I could see treating yourself after that kind of income jump. But damn...a brand new CRV is around 40% of her income.

marty998

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Re: Overheard at Work
« Reply #4517 on: October 06, 2014, 03:46:06 AM »
A co-worker at my part time gig recently finished her Masters program and accepted a great new job. She went from working part time (while also in school part time) earning $14k/year to now earning $55k/year in a her dream job. During her last shift, we had a great discussion about spending habit changes and lifestyle inflation, etc. She talked about how she wanted to keep living frugally even on her new salary so she could pay off her student loans and pay off her lawyer from her recent divorce. We actually had a great talk about values and consumer culture and really connected in a Mustachian kind of way.

One week later, she posted to Facebook next to a brand new Honda CRV at the dealership. "Movin' up in the world!" was her photo title. Then in the comments, she said, "Next on the agenda is a trip to Hawaii with my boy!"

So much for our great discussion...

Hopefully it's just a "get it out of your system" thing. I could see treating yourself after that kind of income jump. But damn...a brand new CRV is around 40% of her income.

You can be sure that it has been financed, and holiday will be on the CC.

rocksinmyhead

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Re: Overheard at Work
« Reply #4518 on: October 06, 2014, 07:08:31 AM »
A co-worker at my part time gig recently finished her Masters program and accepted a great new job. She went from working part time (while also in school part time) earning $14k/year to now earning $55k/year in a her dream job. During her last shift, we had a great discussion about spending habit changes and lifestyle inflation, etc. She talked about how she wanted to keep living frugally even on her new salary so she could pay off her student loans and pay off her lawyer from her recent divorce. We actually had a great talk about values and consumer culture and really connected in a Mustachian kind of way.

One week later, she posted to Facebook next to a brand new Honda CRV at the dealership. "Movin' up in the world!" was her photo title. Then in the comments, she said, "Next on the agenda is a trip to Hawaii with my boy!"

So much for our great discussion...

Hopefully it's just a "get it out of your system" thing. I could see treating yourself after that kind of income jump. But damn...a brand new CRV is around 40% of her income.

yeah I definitely understand the "get it out of your system" factor. I was reasonably frugal (by normal people standards) even pre-MMM, but when I finished grad school and got my first "real" job, my salary went up almost 500% and the first thing I did was buy a new car... (to be fair the old one was 17 years old and the new one is a Nissan Versa hatch that I plan on driving for a long time)

Or they just worry about you getting stranded in the middle of nowhere, if it's your mom or dad being concerned, in my experience ;-)

You don't know stranded in the middle of nowhere until your car dies during a cross-country drive.

Turns out, as long as you have a bit of cash and a credit card, it's really not a big deal.

Unless "middle of nowhere" is something like the yukon, or the haul road up to deadhorse / prudhoe, in which case you are shit outta luck. Get your car checked very well and do preventative maintenance before you do that...
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days

weirdly enough, I've actually been there. there are more "middle of nowhere" places, but I will say the food options around there get old fast. would you like chicken fried chicken, or chicken fried steak? sorry, the only vegetables we have are fried okra and iceberg with ranch dressing.

(not knocking fried okra in any way, I love that shit, it's just that 3 days of panhandle cuisine really fucks up my stomach)

Ashyukun

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Re: Overheard at Work
« Reply #4519 on: October 06, 2014, 09:02:48 AM »
My neighbors were stranded with their 3 daughters in Shamrock, TX.  That's middle of nowhere!
For 3 days


Ok I looked it up.  How do you get trapped in you car for three days, near shamrock when it appears to be flatish there and less than 20miles between  roads or highways?

Most people would walk out on the second day.
Well, their van broke down and the nearest place that could fix it was...I dunno, 100 miles away?  I can't remember.  They holed up in a hotel while the van got towed and fixed, then paid a local to drive them to their van.

And it was the middle of summer, so hot.

When I was in college, some HS friends and I tried to carpool to another friend's wedding in one of the Carolinas from the mid-west. Were on a state highway in West Virginia when we hit a massive pothole that broke an upper strut mount and crippled the car. This was in the mid-90's when cell phones were not the kind of thing a college kid would have. The car was a mid-80's Audi- the first place that we towed it to said, and this is as close to an exact quote as I can remember nearly 20 years later, "Audi? Is that one of the new Ford lines?"

Thankfully we found a shop nearby that knew what an Audi was and could fix it- but this happened on a Saturday and they couldn't get the parts in until that Monday so we were stuck in a hotel in a little WV town for 3 days until the car could get fixed. Had to miss the wedding and just turn around and drive back home.

skunkfunk

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Re: Overheard at Work
« Reply #4520 on: October 06, 2014, 09:08:23 AM »
Coworker of mine just got another DUI. He's suspended without pay til successful rehab. They kept him on the roster so he could get insurance to pay for that. The owners told everybody what happened so its no secret.

His story is that he's been laid off due to too low a workload. Bet he's glad he saved all that money not getting cab rides home from his nightly romps about town.

iris lily

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Re: Overheard at Work
« Reply #4521 on: October 06, 2014, 09:10:44 AM »
...she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

I can't imagine working with any one person, let alone multiple people, so stupid about leaving $10,000 on the table.

While I am skeptical myself about "free money" because it usually is not free, it's very strange that your co-workers don't get it about the great windfall awaiting them. Usually word-of-mouth experiences like yours carry much weight. Perhaps they are hearing the experiences of other like you who cashed in their points for crap and they saw taxes come out of their check.

I have to say that is a robust rewards point system that your place of work offer! wow!

dragoncar

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Re: Overheard at Work
« Reply #4522 on: October 06, 2014, 09:43:47 AM »
...she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

I can't imagine working with any one person, let alone multiple people, so stupid about leaving $10,000 on the table.

While I am skeptical myself about "free money" because it usually is not free, it's very strange that your co-workers don't get it about the great windfall awaiting them. Usually word-of-mouth experiences like yours carry much weight. Perhaps they are hearing the experiences of other like you who cashed in their points for crap and they saw taxes come out of their check.

I have to say that is a robust rewards point system that your place of work offer! wow!

I think he works at that factory that makes screen doors for submarines.

AMIRITE?

jinga nation

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Re: Overheard at Work
« Reply #4523 on: October 06, 2014, 10:18:34 AM »
Long time lurker... thanks for the entertainment!

Company provides 401(K) match through Vanguard, with a good but limited fund options. You get 4% for your first 6%. Used to be 100% match but company split into two, and HR decided they wanted to make benefits "in line with competitor offerings". We also get 5% off company stock, which has done decently well.

CW1 used to work overseas, so prefers to use his UBS financial advisor and doesn't contribute for his free money.
CW2 asks me always how to start saving and investing. Told him to read Lazy Portfolios wiki on Bogleheads and stop eating out. He's done the latter only.
CW3 decided to forego the company 401(k) and visited a Fidelity financial advisor and consolidated all her 401(k) there. Told her it was good to consolidate, but did you check the expense ratios? Huh, what's that?

Surprising, given the talent in my workplace, all IT/engineers, that less than 50% contribute to company 401(k). Less to discounted stock. Then they look at me funny when they find out about my condos, paid for in cash.  Everyone wants to get into RE, but no one wants to make the financial effort of creating that cash buy. "Free money" requires effort, people!

eyePod

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Re: Overheard at Work
« Reply #4524 on: October 06, 2014, 10:46:54 AM »
Long time lurker... thanks for the entertainment!

Company provides 401(K) match through Vanguard, with a good but limited fund options. You get 4% for your first 6%. Used to be 100% match but company split into two, and HR decided they wanted to make benefits "in line with competitor offerings". We also get 5% off company stock, which has done decently well.

CW1 used to work overseas, so prefers to use his UBS financial advisor and doesn't contribute for his free money.
CW2 asks me always how to start saving and investing. Told him to read Lazy Portfolios wiki on Bogleheads and stop eating out. He's done the latter only.
CW3 decided to forego the company 401(k) and visited a Fidelity financial advisor and consolidated all her 401(k) there. Told her it was good to consolidate, but did you check the expense ratios? Huh, what's that?

Surprising, given the talent in my workplace, all IT/engineers, that less than 50% contribute to company 401(k). Less to discounted stock. Then they look at me funny when they find out about my condos, paid for in cash.  Everyone wants to get into RE, but no one wants to make the financial effort of creating that cash buy. "Free money" requires effort, people!

The discounted stock is usually a bad buy (just like any individual stock), but at least you get 5% off?

jinga nation

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Re: Overheard at Work
« Reply #4525 on: October 06, 2014, 11:50:32 AM »
Long time lurker... thanks for the entertainment!

Company provides 401(K) match through Vanguard, with a good but limited fund options. You get 4% for your first 6%. Used to be 100% match but company split into two, and HR decided they wanted to make benefits "in line with competitor offerings". We also get 5% off company stock, which has done decently well.

CW1 used to work overseas, so prefers to use his UBS financial advisor and doesn't contribute for his free money.
CW2 asks me always how to start saving and investing. Told him to read Lazy Portfolios wiki on Bogleheads and stop eating out. He's done the latter only.
CW3 decided to forego the company 401(k) and visited a Fidelity financial advisor and consolidated all her 401(k) there. Told her it was good to consolidate, but did you check the expense ratios? Huh, what's that?

Surprising, given the talent in my workplace, all IT/engineers, that less than 50% contribute to company 401(k). Less to discounted stock. Then they look at me funny when they find out about my condos, paid for in cash.  Everyone wants to get into RE, but no one wants to make the financial effort of creating that cash buy. "Free money" requires effort, people!

The discounted stock is usually a bad buy (just like any individual stock), but at least you get 5% off?

Yes, 5% off. Stock has been up for the 4.5 years I've been with the company. My boss has been buying for 14 years, and market data shows that he was wise. I agree with you otherwise. I've been lucky that the only other company stock that I owned did good during the recession years. I know others who've been burnt, so it is a case of buyer beware. However, I buy very little; a total loss would not affect my lifestyle.

nawhite

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Re: Overheard at Work
« Reply #4526 on: October 06, 2014, 12:38:25 PM »
Long time lurker... thanks for the entertainment!

Company provides 401(K) match through Vanguard, with a good but limited fund options. You get 4% for your first 6%. Used to be 100% match but company split into two, and HR decided they wanted to make benefits "in line with competitor offerings". We also get 5% off company stock, which has done decently well.

CW1 used to work overseas, so prefers to use his UBS financial advisor and doesn't contribute for his free money.
CW2 asks me always how to start saving and investing. Told him to read Lazy Portfolios wiki on Bogleheads and stop eating out. He's done the latter only.
CW3 decided to forego the company 401(k) and visited a Fidelity financial advisor and consolidated all her 401(k) there. Told her it was good to consolidate, but did you check the expense ratios? Huh, what's that?

Surprising, given the talent in my workplace, all IT/engineers, that less than 50% contribute to company 401(k). Less to discounted stock. Then they look at me funny when they find out about my condos, paid for in cash.  Everyone wants to get into RE, but no one wants to make the financial effort of creating that cash buy. "Free money" requires effort, people!

The discounted stock is usually a bad buy (just like any individual stock), but at least you get 5% off?

Yes, 5% off. Stock has been up for the 4.5 years I've been with the company. My boss has been buying for 14 years, and market data shows that he was wise. I agree with you otherwise. I've been lucky that the only other company stock that I owned did good during the recession years. I know others who've been burnt, so it is a case of buyer beware. However, I buy very little; a total loss would not affect my lifestyle.

How long do you have to hold before you sell, how much can you buy at once, and what are the trading fees? Low trading fees, large purchase allowances and no holding requirement would make that program a goose that lays golden eggs. With great terms, I would have no problems churning $1000s a month through it. Certainly not a bad buy. All depends on the fine print.

gimp

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Re: Overheard at Work
« Reply #4527 on: October 06, 2014, 01:21:14 PM »
With ESPP plans, usually:

- You can only contribute x% of your salary (5%, 10%, 15% are common)
- You have an enrollment period when you can decide if you want in, then a contribution period (often 6 months), then at the end you get all the stock at once
- Some companies will give you the lower of the beginning or end price of the contribution period, then apply the discount, so if the price is up you win, if down you're still fine
- You usually can only sell during certain periods, but they're reasonable (eg: never near earnings reports, or product announcements, etc)
- You go through a brokerage, and they might take a few bucks per transaction

For example, I might put 10% of my salary into ESPP in six months, get a 15% discount on the lower of the beginning or end price, then have the stock appear in a brokerage account at the end of six months, which I might immediately sell or sell as soon as possible (or hold on to, if I want to be risky); and it might cost me $10 to sell it all. $10 would be, in this example, about 0.2%.

Taxes:

- Upon purchasing, you're taxed on the discount
- Upon selling, you're taxed on the profit (sold price vs market price when bought - you already got taxed on market price vs buy price)
- If you hold it for a year, you pay long-term capital gains on the profit; otherwise short-term (US).

It only profits you to hold it to get the long-term rate if you think the company will do at least almost as well as your favorite index. (Almost as well as, meaning it doesn't have to beat it, because you win on paying less tax and you win on not paying an expense ratio.)

This horse has been beaten to death and back to life on this forum.

C. K.

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Re: Overheard at Work
« Reply #4528 on: October 06, 2014, 04:45:05 PM »
... accepting and embracing the possibility of breaking down on the road was very liberating.

Yes! You're the first person I've ever heard say that. That's exactly where I was about 5 months into the new-to-me beater. I'd finally accepted it. I had my safety nets, I didn't drive it much anyway and all was fine.

The relatives who saw me buy it said they financed a new car because it was more reliable than something like mine. Well, mine eventually became a taxi for them for a week when theirs was repossessed.

I was not happy at their distress, but I was thrilled to be in a position to help. And it just reaffirmed the pay-with-cash thing so that the car, house, whatever, is yours.

iwasjustwondering

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Re: Overheard at Work
« Reply #4529 on: October 06, 2014, 05:18:26 PM »
...she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

I can't imagine working with any one person, let alone multiple people, so stupid about leaving $10,000 on the table.

While I am skeptical myself about "free money" because it usually is not free, it's very strange that your co-workers don't get it about the great windfall awaiting them. Usually word-of-mouth experiences like yours carry much weight. Perhaps they are hearing the experiences of other like you who cashed in their points for crap and they saw taxes come out of their check.

I have to say that is a robust rewards point system that your place of work offer! wow!

I think he works at that factory that makes screen doors for submarines.

AMIRITE?

That made me laugh really, really hard.  Thank you.  I'm a "she," not  "he," fyi. 

Yes, these two coworkers are just extremely well-dressed and spend a lot of money.  I told CW2 that I try to be frugal, and she said that was silly, and that every time her husband tells her they should save money, she just tells him they can always make more.  It's a philosophy.  I was with her once at breakfast, and her card was declined for a $6 charge (this is a woman who makes more than $200,000 per year).  Neither one of them is very good at navigating benefits or getting the most out of what the company offers us.  CW1 actually forgot to sign up for health insurance one year -- she put it off and put it off, and then decided to sign up at night, from home, on the last day of registration, only to find that registration ended at 7pm and she was too late.  Aye yay yay. 

eyePod

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Re: Overheard at Work
« Reply #4530 on: October 07, 2014, 06:51:58 AM »
...she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

I can't imagine working with any one person, let alone multiple people, so stupid about leaving $10,000 on the table.

While I am skeptical myself about "free money" because it usually is not free, it's very strange that your co-workers don't get it about the great windfall awaiting them. Usually word-of-mouth experiences like yours carry much weight. Perhaps they are hearing the experiences of other like you who cashed in their points for crap and they saw taxes come out of their check.

I have to say that is a robust rewards point system that your place of work offer! wow!

I think he works at that factory that makes screen doors for submarines.

AMIRITE?

That made me laugh really, really hard.  Thank you.  I'm a "she," not  "he," fyi. 

Yes, these two coworkers are just extremely well-dressed and spend a lot of money.  I told CW2 that I try to be frugal, and she said that was silly, and that every time her husband tells her they should save money, she just tells him they can always make more.  It's a philosophy.  I was with her once at breakfast, and her card was declined for a $6 charge (this is a woman who makes more than $200,000 per year).  Neither one of them is very good at navigating benefits or getting the most out of what the company offers us.  CW1 actually forgot to sign up for health insurance one year -- she put it off and put it off, and then decided to sign up at night, from home, on the last day of registration, only to find that registration ended at 7pm and she was too late.  Aye yay yay.

This just blows my mind. Someone making 200k per year and the fact that they have trouble paying $6. She should be smacked. Did you end up paying for her?

Elderwood17

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Re: Overheard at Work
« Reply #4531 on: October 07, 2014, 08:32:39 AM »


The relatives who saw me buy it said they financed a new car because it was more reliable than something like mine. Well, mine eventually became a taxi for them for a week when theirs was repossessed.

I was not happy at their distress, but I was thrilled to be in a position to help. And it just reaffirmed the pay-with-cash thing so that the car, house, whatever, is yours.
The paid for beater rescues the repossessed new car!  I love it!!

senecando

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Re: Overheard at Work
« Reply #4532 on: October 07, 2014, 09:24:55 AM »
Why do volvo drivers seem to often get pissed when they get passed, and try to compete? It's volvo drivers, and men driving minivans, the two most common types of drivers who try to speed up when they get passed. (And women driving huge SUVs, too.)

You're misunderstanding; they've been accelerating the whole time and are just now getting to highway speed.

'92 checkin' in.
« Last Edit: October 07, 2014, 09:29:22 AM by senecando »

innkeeper77

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Re: Overheard at Work
« Reply #4533 on: October 07, 2014, 09:33:52 AM »

You're misunderstanding; they've been accelerating the whole time and are just now getting to highway speed.

'92 checkin' in.

I've had that problem a lot driving my subaru, especially when it is loaded down. People seem really surprised when you pass them again, but it seems ridiculous since they decided to jackrabbit start from lights....

On topic: I work at a financial institution, and the most common thing I hear from my coworkers is "I'm so broke!".

ketchup

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Re: Overheard at Work
« Reply #4534 on: October 07, 2014, 10:45:37 AM »
Why do volvo drivers seem to often get pissed when they get passed, and try to compete? It's volvo drivers, and men driving minivans, the two most common types of drivers who try to speed up when they get passed. (And women driving huge SUVs, too.)

You're misunderstanding; they've been accelerating the whole time and are just now getting to highway speed.

'92 checkin' in.
Yep.  I had a '96 non-turbo Volvo wagon.  Not a speed demon.  My current '99 Chevy Metro and '92 Buick Roadmaster are even slower.  The Metro is the only car I've driven where I fairly-routinely find myself actually "flooring it," especially on short highway on-ramps.  And people still give me attitude.

Caella

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Re: Overheard at Work
« Reply #4535 on: October 07, 2014, 11:56:12 AM »
Let me contribute to the clown car thingy.

We have several (free and secured) parking lots at work. I think it's more than enough for everybody, every time i arrived, at anytime, there always were plenty of space.
There is one parking lot closest to the door, and this one always fill up very soon in the morning, since everyone wants to walk less. To the other parking lots you have to walk a little, something like half a mile to the farthest. And there is a VAN to get the people to and from this lot.

I probably could stop this at the van, but NO!

Everyday people leave for lunch on their cars and when they come back, instead of parking on the free lots, they form a line of cars waiting to get on the closest lot. They stay there, cars on, AC blasting, waiting indefinitely until there are some spot on this lot and they can park there.
One day a coworker complained that she spent HALF AN HOUR waiting on the line.
I just couldn't answer.

CommonCents

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Re: Overheard at Work
« Reply #4536 on: October 07, 2014, 01:56:26 PM »
Coworker told me today he budgets $3/day for all of his food.  He brings his lunch in every single day, needless to say.

Pooperman

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Re: Overheard at Work
« Reply #4537 on: October 07, 2014, 02:07:14 PM »
So in conversation, I mention that I'm switching over to prepaid for my cell, cutting the bill a bit more than in half (SO is too).

Me: Even with the termination fees, I come out ahead by the end of the original contract.
CW: Don't you have an iPad or something you can put on one of the lines to avoid a termination fee for the line? You'd only have to pay the basic data for it.
Me: No. I want to keep my old number.

In my head I'm going 'did you not hear what I said about cutting bill in half, and saving money by the end of when the contract would be? You suggest I get a new number ($10), pay for a basic iPad data plan ($50/mo * 14mo = $700) to avoid a termination fee of $350?' Made nice but wow... How do you math?


fb132

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Re: Overheard at Work
« Reply #4539 on: October 07, 2014, 04:31:58 PM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.


dandarc

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Re: Overheard at Work
« Reply #4541 on: October 07, 2014, 05:06:21 PM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.
Reinforces that what most of us are trying to do here is pretty unusual compared to normal.  Means little to no risk of the 'frugal-apocalypse' where the economy collapses because so many people embrace MMM's lifestyle.  Sucks from a commiserating standpoint, but at the very least you've got this board when you want to talk finances.

fb132

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Re: Overheard at Work
« Reply #4542 on: October 07, 2014, 05:17:04 PM »
Thank god for this forum, it will be the last time I'll ever talk about saving money at work, I am surrounded by money morons. My goal is also to buy a condo...cash...no mortgage...and even that was too much to handle for my coworkers. Society sucks :p .

RyanAtTanagra

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Re: Overheard at Work
« Reply #4543 on: October 07, 2014, 05:26:05 PM »
Thank god for this forum, it will be the last time I'll ever talk about saving money at work, I am surrounded by money morons. My goal is also to buy a condo...cash...no mortgage...and even that was too much to handle for my coworkers. Society sucks :p .

Learn to embrace it and realize that the more they say you're doing it wrong, the better you're actually doing.  You can start telling them stories of your frugality so you can all laugh together, but for different reasons.

Emilyngh

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Re: Overheard at Work
« Reply #4544 on: October 07, 2014, 09:15:27 PM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.

Yup.   In the same breath my friends will imply that I'm cheap for not having an iphone (although I do have a smart phone with data even, just a super cheap plan so I don't go crazy with unlimited data), but then sigh about how they have no savings and debt and how  privileged I am to not have to worry about these things and to be able to afford a SAH spouse.   And these are my friends, the people IRL that I feel like most closely share my values.   I can't imagine how others would react.

LennStar

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Re: Overheard at Work
« Reply #4545 on: October 08, 2014, 02:01:41 AM »
Yup.   In the same breath my friends will imply that I'm cheap for not having an iphone (although I do have a smart phone with data even, just a super cheap plan so I don't go crazy with unlimited data), but then sigh about how they have no savings and debt and how  privileged I am to not have to worry about these things and to be able to afford a SAH spouse.   And these are my friends, the people IRL that I feel like most closely share my values.   I can't imagine how others would react.
Now be a good stoic and think about how people must have felt (and feel) over the ages about mixed race or same sex marriage. Compared to that you have it easy and the biggest laugh at the end!

Travis

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Re: Overheard at Work
« Reply #4546 on: October 08, 2014, 05:33:46 AM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.

Yup.   In the same breath my friends will imply that I'm cheap for not having an iphone (although I do have a smart phone with data even, just a super cheap plan so I don't go crazy with unlimited data), but then sigh about how they have no savings and debt and how  privileged I am to not have to worry about these things and to be able to afford a SAH spouse.   And these are my friends, the people IRL that I feel like most closely share my values.   I can't imagine how others would react.

I don't talk finances too much with my friends since I make a lot more than most of them, but when the conversation turned to saving money (which brings out some MMM philosophies and techniques) I was once accused of being so good at saving money because I could afford it.  I still haven't figured out that logic.

fb132

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Re: Overheard at Work
« Reply #4547 on: October 08, 2014, 05:39:43 AM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.

Yup.   In the same breath my friends will imply that I'm cheap for not having an iphone (although I do have a smart phone with data even, just a super cheap plan so I don't go crazy with unlimited data), but then sigh about how they have no savings and debt and how  privileged I am to not have to worry about these things and to be able to afford a SAH spouse.   And these are my friends, the people IRL that I feel like most closely share my values.   I can't imagine how others would react.

I know and the worst part is they always come up with that excuse "You only have one life to live". I mean, since when spending 10$ here, 50$ there means you are happy in the end???I get much more fun just of bike riding or playing sports or even working out and it doesn't cost much or nothing at all in most cases. Plus I love knowing that when I am 40 or 50 years old, I will have the freedom of doing what I want, if I feel like quitting my job, I can, because I will have the means by then to do so, if I want to pursue some other career, I can too.
Although, now my expenses are very low, because I am working on that goal, I don't feel I am living a miserable life doing so, which many of collegues think I am doing, they actually think I am suffering for that long term goal.

It is funny, how society are like sheeps, anything out of their bubble is wrong to them. Everyone has these days, iphones and samsung with crazy data plans, but they seem to forget the world used to exist without them and you can still live today without them. I hate the fact that everyone would know where I am at all time, if I am busy, they will simply have to wait when I am available to call them back, but yet I am the insane one,lol. When I hit 30, I decided to eat healthier and follow a healthy meal plan, yet again, I still got no support from anyone.They don't realize we are a country with terrible eating habits. And since I live in Canada, I actually save the country money (we have healthcare) because my chances of going to the hospital for health related issues drop dramatically because I exercice and eat well, but yet, the still tell me that I am in the wrong and that...yes....I have one life to live so I gotta make the most of it.

I still have yet to find someone in my city who doesn't think like that...and I live in a big city. I am sure there is someone who has the same mustachian values, but I have yet to meet one in real life. This city seems to be infatuated by cars,technology and embraces debt.
Ah it felt great venting here :p .I have to learn that people's mindset will never change unless they accept change.
« Last Edit: October 08, 2014, 05:48:46 AM by fb132 »

Caella

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Re: Overheard at Work
« Reply #4548 on: October 08, 2014, 06:19:44 AM »
I was at work today, during lunch hour, I told my collegues that I was trying to save 40%+ of my paycheck and instead of getting any support, all I got were people telling me "Why are you doing that for??? Your not living your life, you will regret it." and then another collegue was like "You need debt to live". The worse reaction is when I said I don't own a car, I take the bus to anywhere I go and everyone stares me like an alien and telling me "What do you do when you go out?", I replied "Huh, well I take the bus." and I still would get stares...What the hell is wrong with people. Mind you, I am not even doing anything hardcore, there are mustachians here who save much more than me and ride their bike to work...I could only imagine what my co-workers would say about that, already they think I am crazy for saving 40%. Even worse is that no one bats an eye when someone at work says "I got a 5 year loan on a car", but because I save 40%....I am the weird one. Try to figure that one out.

Yup.   In the same breath my friends will imply that I'm cheap for not having an iphone (although I do have a smart phone with data even, just a super cheap plan so I don't go crazy with unlimited data), but then sigh about how they have no savings and debt and how  privileged I am to not have to worry about these things and to be able to afford a SAH spouse.   And these are my friends, the people IRL that I feel like most closely share my values.   I can't imagine how others would react.

I don't talk finances too much with my friends since I make a lot more than most of them, but when the conversation turned to saving money (which brings out some MMM philosophies and techniques) I was once accused of being so good at saving money because I could afford it.  I still haven't figured out that logic.

Yeah, i hear that logic a lot too.

Recently i got on a high paying job, which bumped my savings to almost 50%. I still live with the same amount I used to make (and my lifestyle deserve A LOT of facepunches), but somehow, now i'm RICH, and that's why I can afford to pay my credit cards in full every month. Of course that has nothing to do with budgeting and mindful spending, and the fact that I absolutely always paid my cards in full is just a detail.

plainjane

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Re: Overheard at Work
« Reply #4549 on: October 08, 2014, 07:08:56 AM »
I don't talk finances too much with my friends since I make a lot more than most of them, but when the conversation turned to saving money (which brings out some MMM philosophies and techniques) I was once accused of being so good at saving money because I could afford it.  I still haven't figured out that logic.

I made a comment at work about how people should be saving $500/month at a minimum, and later realized that one of the people present was making about 30k/year.  For her, being able to save that amount of money really was a question of affording - there is a base cost of living, especially when you are just starting out.  Also, if you're just at that level, you have a limited ability to buy quality items that will last (e.g. shoes, jackets) or take advantage of bulk buying during sales, so it's hard to pull yourself up without a bit more salary.

 

Wow, a phone plan for fifteen bucks!