Author Topic: Overheard at Work  (Read 8040861 times)

Albert

  • Handlebar Stache
  • *****
  • Posts: 1254
  • Location: Switzerland
Re: Overheard at Work
« Reply #6050 on: December 20, 2014, 01:21:02 PM »
No one goes to grad school in engineering expecting to earn only average. It would make no sense given the sacrifice in years and long hours.

Anyway an engineering grad student currently living on 20k still has plenty of time to get his financial house in order. No reason to be worried just yet.

craiglepaige

  • Handlebar Stache
  • *****
  • Posts: 1081
  • Location: Ohio
Re: Overheard at Work
« Reply #6051 on: December 20, 2014, 02:34:32 PM »
No one goes to grad school in engineering expecting to earn only average. It would make no sense given the sacrifice in years and long hours.

Anyway an engineering grad student currently living on 20k still has plenty of time to get his financial house in order. No reason to be worried just yet.

I thought it was more to do with the fact he's already living at $12k per year(after taxes), so living at $50k once retired is gravy.
-The conqueror will always become a slave to his conquest.

- Eres Un Esclavo Financiero
https://youtu.be/GO1Fsp4cUTQ

kpd905

  • Handlebar Stache
  • *****
  • Posts: 1457
Re: Overheard at Work
« Reply #6052 on: December 20, 2014, 07:18:49 PM »
My coworker told me that he and his wife have been paying $500/month to his son's student loans.  The kid is a pharmacist who makes more than both of them combined, and he is leasing a brand new Lexus.

To make it even worse, this guy's wife has a 100% match up to the IRS maximum on her 401k, and they are only putting in about $500/month.
Get $150 after $500 spend w/ Chase Freedom: https://www.referyourchasecard.com/2/OKUUT3TERJ

Get $500 after $4k spend w/ Chase Sapphire Preferred:
https://www.referyourchasecard.com/6/6NBNP4WEGJ

Sign up for Personal Capital, link one investment account, get $20 Amazon GC: http://share.personalcapital.com/x/AgCQkt

My side hustle journal: https://forum.mrmoneymustache.com/journals/side-hustle-journal-bank-bonuses-churning-tradelines/

Hedge_87

  • Pencil Stache
  • ****
  • Posts: 650
  • Age: 30
  • Location: South central ks
Re: Overheard at Work
« Reply #6053 on: December 21, 2014, 08:20:59 AM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.
There are two types of people in this world. Those who think they can and those who think they can't. They are both right. - Henry ford

kpd905

  • Handlebar Stache
  • *****
  • Posts: 1457
Re: Overheard at Work
« Reply #6054 on: December 21, 2014, 09:11:54 AM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.

Yeah he fully acknowledged how much they were missing out on.  I just could not convince him to do anything about it.
Get $150 after $500 spend w/ Chase Freedom: https://www.referyourchasecard.com/2/OKUUT3TERJ

Get $500 after $4k spend w/ Chase Sapphire Preferred:
https://www.referyourchasecard.com/6/6NBNP4WEGJ

Sign up for Personal Capital, link one investment account, get $20 Amazon GC: http://share.personalcapital.com/x/AgCQkt

My side hustle journal: https://forum.mrmoneymustache.com/journals/side-hustle-journal-bank-bonuses-churning-tradelines/

Lookilu

  • Stubble
  • **
  • Posts: 101
Re: Overheard at Work
« Reply #6055 on: December 21, 2014, 09:39:15 AM »
My former workplace was a goldmine of tragicomedy.

After receiving her first paycheck, one  of our new admin assistants went to the local 'outlet' mall and purchased: a pair of sunglasses that cost her entire paycheck (around $600). I did not know that sunglasses--even with a designer label--could cost that much unless they granted the wearer x-ray vision.

As I sat there, stunned, the rest of the admin assistants congratulated her on making such a smart buy.

LennStar

  • Pencil Stache
  • ****
  • Posts: 997
Re: Overheard at Work
« Reply #6056 on: December 21, 2014, 09:49:05 AM »
My former workplace was a goldmine of tragicomedy.

After receiving her first paycheck, one  of our new admin assistants went to the local 'outlet' mall and purchased: a pair of sunglasses that cost her entire paycheck (around $600). I did not know that sunglasses--even with a designer label--could cost that much unless they granted the wearer x-ray vision.

As I sat there, stunned, the rest of the admin assistants congratulated her on making such a smart buy.
just for sun or actual sight correctoin?
If its the sight correction you can get easily above that.

Emilyngh

  • Pencil Stache
  • ****
  • Posts: 893
Re: Overheard at Work
« Reply #6057 on: December 21, 2014, 09:56:58 AM »
My former workplace was a goldmine of tragicomedy.

After receiving her first paycheck, one  of our new admin assistants went to the local 'outlet' mall and purchased: a pair of sunglasses that cost her entire paycheck (around $600). I did not know that sunglasses--even with a designer label--could cost that much unless they granted the wearer x-ray vision.

As I sat there, stunned, the rest of the admin assistants congratulated her on making such a smart buy.
just for sun or actual sight correctoin?
If its the sight correction you can get easily above that.

And you can easily get below that as well, even if for correction.   I got my prescription sunglasses from Zenni for less than $30, and I have horrible eyes and serious prescription.

GardenFun

  • Bristles
  • ***
  • Posts: 459
  • Location: Packers Hell - they're everywhere!
Re: Overheard at Work
« Reply #6058 on: December 21, 2014, 12:57:50 PM »
Well, I got called a "minimalist" at work today. It actually hurt more than I thought. My mental strength just isn't what I thought it was. I have had to defend myself before or deflect some thing before, but this one hurt because it was nonchalant and not actually spoken directly to me.

Been there - first from family, then from friends.  Definitely hurt the first time around because I thought we were living a good life, but being smart with purchases.  Funny part is that I now think we have way too much stuff and need to streamline what we already own. 

With recent knowledge, I agree with the poster who would 100% owe up to it.  It is our identity - buy what you need and what makes you happy, forget the rest. 

MgoSam

  • Magnum Stache
  • ******
  • Posts: 3612
  • Location: Minnesota
Re: Overheard at Work
« Reply #6059 on: December 21, 2014, 01:09:05 PM »
Well, I got called a "minimalist" at work today. It actually hurt more than I thought. My mental strength just isn't what I thought it was. I have had to defend myself before or deflect some thing before, but this one hurt because it was nonchalant and not actually spoken directly to me.

Been there - first from family, then from friends.  Definitely hurt the first time around because I thought we were living a good life, but being smart with purchases.  Funny part is that I now think we have way too much stuff and need to streamline what we already own. 

With recent knowledge, I agree with the poster who would 100% owe up to it.  It is our identity - buy what you need and what makes you happy, forget the rest.

First they ignore you, then they laugh at you, then they fight you, then you win.
-Gandhi

hdatontodo

  • Bristles
  • ***
  • Posts: 257
  • Location: Balto Co, MD
Re: Overheard at Work
« Reply #6060 on: December 21, 2014, 01:42:31 PM »
Well, I got called a "minimalist" at work today. It actually hurt more than I thought. My mental strength just isn't what I thought it was. I have had to defend myself before or deflect some thing before, but this one hurt because it was nonchalant and not actually spoken directly to me.
..

Someone attributed to Eleanor Roosevelt that for something to bother you, YOU had to believe some of it is true. My question would be, if you are a minimalist, why would it bother you to be called one?

rocketpj

  • Pencil Stache
  • ****
  • Posts: 646
Re: Overheard at Work
« Reply #6061 on: December 21, 2014, 01:48:11 PM »
Helped a person at my work shop for and buy a new couch to replace his old one (part of purging his home after a bedbug thing - ick).  We had a truck so we helped him.  Small budget, but we found him a dirt cheap, nice enough new couch and chair for $450.  He asks to borrow the extra money, and one of my coworkers lends it to him.

IMMEDIATELY after borrowing the money we go for lunch at a Subway (I know, but it was a social context and I was prepared to drop $2 on a veggie sub).  Mr. Bigshot, who just borrowed $125 from my coworker to pay for the couch we were all helping him to acquire, magnanimously pays for everybody's sub.  I almost fell over from shock.  Desperate need of a facepunch, and to be honest I'm surprised that the guy who loaned him the cash didn't in fact smack him.

GardenFun

  • Bristles
  • ***
  • Posts: 459
  • Location: Packers Hell - they're everywhere!
Re: Overheard at Work
« Reply #6062 on: December 21, 2014, 02:23:00 PM »
Well, I got called a "minimalist" at work today. It actually hurt more than I thought. My mental strength just isn't what I thought it was. I have had to defend myself before or deflect some thing before, but this one hurt because it was nonchalant and not actually spoken directly to me.
..

Someone attributed to Eleanor Roosevelt that for something to bother you, YOU had to believe some of it is true. My question would be, if you are a minimalist, why would it bother you to be called one?

It was the snarky tone used when making the comment.  A combination of "Are you having money issues?", "You're weird", and "You don't understand society expectations" all rolled into one statement.  Being it was initially from family, I was floored - we weren't a flashy family but since DH and I had good jobs, I think there was some expectation of lifestyle inflation that we were not achieving.  So I would agree with the Roosevelt comparison, part of me wondered if there was something wrong with me.  Fortunately DH is stubborn and embraced it as a compliment.  This was way pre-MMM, so the groundwork was already forming. 

Lookilu

  • Stubble
  • **
  • Posts: 101
Re: Overheard at Work
« Reply #6063 on: December 21, 2014, 02:34:11 PM »
My former workplace was a goldmine of tragicomedy.

After receiving her first paycheck, one  of our new admin assistants went to the local 'outlet' mall and purchased: a pair of sunglasses that cost her entire paycheck (around $600). I did not know that sunglasses--even with a designer label--could cost that much unless they granted the wearer x-ray vision.

As I sat there, stunned, the rest of the admin assistants congratulated her on making such a smart buy.

just for sun or actual sight correctoin?
If its the sight correction you can get easily above that.

And you can easily get below that as well, even if for correction.   I got my prescription sunglasses from Zenni for less than $30, and I have horrible eyes and serious prescription.

Nope. Not prescription lenses. Just to be "fashionable." Meanwhile, she was holding her work trousers together with safety pins.

secondcor521

  • Handlebar Stache
  • *****
  • Posts: 1539
  • Age: 49
  • Location: Boise, Idaho
  • Big cattle, no hat.
    • Age of Eon - Overwatch player videos
Re: Overheard at Work
« Reply #6064 on: December 21, 2014, 02:52:25 PM »
Anyone else notice that this thread has made it past 1 million views?

Wowzers.
Like Overwatch?  Check out this YouTube channel:  http://bit.ly/AgeOfEon

Pooperman

  • Magnum Stache
  • ******
  • Posts: 2845
  • Age: 28
  • Location: North Carolina
Re: Overheard at Work
« Reply #6065 on: December 21, 2014, 04:12:55 PM »
Anyone else notice that this thread has made it past 1 million views?

Wowzers.

This thread can RE. :D

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 7924
  • Location: Australia
Re: Overheard at Work
« Reply #6066 on: December 21, 2014, 06:22:08 PM »
Listened to a ten minute long rant about the incompetence of a pool cleaning company :-/

People with super spendy lives sure seem to have a lot to complain about.

Goldielocks

  • Walrus Stache
  • *******
  • Posts: 5338
  • Location: BC
Re: Overheard at Work
« Reply #6067 on: December 21, 2014, 06:48:34 PM »
So, I finally have a story.  My supervisor took a bunch of us out to lunch at a nice sushi place, and somehow money came up in the conversation.  One of the fellows said something like "even if you got a million dollars you couldn't retire - the interest isn't enough to live on and with the way inflation is, it'll be worth less and less as time goes on".  So I asked him how much interest he figured you'd get, and he said 'about 50k yearly'.  So I asked him how much he was living on per year.  He didn't answer, but here's the punchline; we're all engineering grad students (masters or PhD).  NONE of us are making over 20K per year, except the prof.  Take away tuition and I'd be surprised if we're clearing 12K (of course almost no taxes...).  This guy doesn't own a car and lives with roommates to save money.  But somehow he hasn't figured out the logic here.  Hilarious.  On the plus side, when I finish, I figure I can live a posh life on 20k per year...

That's a perfect teachable moment.  If he's at that stage in life, he's clearly just parroting things he's heard about it not being enough to live on.. so you can tell him that, believe it or not, that 40-50k annually is enough (and in fact, is what the median household lives on).

Perfect!  I was just chatting with my Dad, today, who recently turned 72, and has to now make mandatory RRSP withdrawls (on top of his pension).  He mentioned that although he was making >$300k, Gross, in his final years as an airline Pilot, and bringing home 44% of that total, he and my mom now spend for their day to day lives only $40k per year as retirees (plus elective travel they can cancel at any time.)  This includes the utilities, top shelf insurance, two newish vehicles including a F250, and a large expensive house to maintain.

So -- someone who used to make a TON of money, has discovered the truth -- without even trying, they have a lifestyle of $40k per year, (with a paid off house).   A typical challenge is deciding what to do with their money.

And, he still works a side business as a carpenter (cabinet maker) for the enjoyment of it, and likely brings in $30k a year, net, in income.

Metta

  • Pencil Stache
  • ****
  • Posts: 639
Re: Overheard at Work
« Reply #6068 on: December 21, 2014, 06:56:55 PM »
Listened to a ten minute long rant about the incompetence of a pool cleaning company :-/

People with super spendy lives sure seem to have a lot to complain about.

It is so true. Their lives are endlessly complicated by the evil machinations or incompetence of their hired help and contractors. :)


DSKla

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Overheard at Work
« Reply #6069 on: December 21, 2014, 07:04:30 PM »
Listened to a ten minute long rant about the incompetence of a pool cleaning company :-/

People with super spendy lives sure seem to have a lot to complain about.
I can't find it now, but this reminds me of an example Nassim Taleb gave where people who paid a great deal of money to fly first-class complained about every little inconvenience in the food, seats, service,metc, whereas those who flew coach were laughing and drinking beers without a care. He concluded that the only way to enjoy being wealthy is never to spend it.
Free Brilliant Bike referral code.  Sign up 99 friends, get a free bike.
invite.brilliant.co?ref=7ab001ddd4

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7890
  • Registered member
Re: Overheard at Work
« Reply #6070 on: December 22, 2014, 12:04:56 AM »
Anyone else notice that this thread has made it past 1 million views?

Wowzers.

This thread can RE. :D

No way, that's only like 50k views per year.  Nobody can live on that.

auntie_betty

  • Stubble
  • **
  • Posts: 179
Re: Overheard at Work
« Reply #6071 on: December 22, 2014, 06:07:18 AM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.

In order to share the pain from the UK - what is the IRS max? I don't think I'm going to like the answer!
« Last Edit: December 22, 2014, 02:28:28 PM by gallygirl »

jordanread

  • Guest
Re: Overheard at Work
« Reply #6072 on: December 22, 2014, 06:52:51 AM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.

In order to share the pain from the UK - what is the IRS max? I don't thunk I'm going to like the answer!

$17,500 in 2014...

Paul der Krake

  • Magnum Stache
  • ******
  • Posts: 4071
  • Age: 10
  • Location: us-west-2
  • Bot - Do Not Reply
Re: Overheard at Work
« Reply #6073 on: December 22, 2014, 07:09:39 AM »
To make it even worse, this guy's wife has a 100% match up to the IRS maximum on her 401k, and they are only putting in about $500/month.
Care to share the employer's name? Are they hiring?

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3634
  • Age: 40
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Overheard at Work
« Reply #6074 on: December 22, 2014, 08:22:57 AM »
Care to share the employer's name? Are they hiring?
No shit! I've had a few jobs with what I thought were decent bennies, but I don't think I've ever seen a match over 6%. TSP only matches 1-to-1 on the first 3% and half up to 5%.

I'd suck up some serious pain to get a deal that sweet.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

merula

  • Handlebar Stache
  • *****
  • Posts: 1002
Re: Overheard at Work
« Reply #6075 on: December 22, 2014, 08:35:42 AM »
I'm confused. I was thinking a 6% match meant "My employer will match what I put in dollar-for-dollar up to 6% of my salary." So 100% match isn't 94% better than a 6% match; it'd be something around 11% better on a $100,000 salary. Still, $11,500 tax-free is nothing to scoff at.

On topic: my in-laws moved 10 blocks away from me to be closer to the grandkids. They ROUTINELY drive those 10 blocks. Not only that, they bought an SUV "to make it easier to fit the carseats". They drive my kids places MAYBE once a month.

pbkmaine

  • Walrus Stache
  • *******
  • Posts: 7409
  • Age: 61
  • Location: The Villages, Florida
Overheard at Work
« Reply #6076 on: December 22, 2014, 08:36:48 AM »
Well, I got called a "minimalist" at work today. It actually hurt more than I thought. My mental strength just isn't what I thought it was. I have had to defend myself before or deflect some thing before, but this one hurt because it was nonchalant and not actually spoken directly to me.

Treat it as a compliment. Own it. Teach it. Be the change you want to see in the world.

ScooterMac

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Re: Overheard at Work
« Reply #6077 on: December 22, 2014, 08:47:15 AM »
Had a former student who was back visiting brag about how stupid his cell phone company was because, despite being two months behind on his cell phone bill, only the "main line" for the account had been shut off, but his was still active.  He proudly declared that since he didn't have the money to pay his cell phone bill out of either of his last two paychecks, he'd bought Christmas presents with them instead of saving it to pay off his bill. Generational poverty makes my head hurt.

Travis

  • Handlebar Stache
  • *****
  • Posts: 2233
  • Location: Arizona
Re: Overheard at Work
« Reply #6078 on: December 22, 2014, 08:58:19 AM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.

In order to share the pain from the UK - what is the IRS max? I don't thunk I'm going to like the answer!

$17,500 in 2014...

And $18k for next year.  One more week and I can revamp all my auto-investments for 2015.
My Journal: http://forum.mrmoneymustache.com/journals/will-i-or-won't-i-a-home-run-or-a-base-hit/

Unlike some other tech companies or skilled-labor industries, we're always hiring.

www.goarmy.com

Timmmy

  • Bristles
  • ***
  • Posts: 446
  • Age: 34
  • Location: Madison Heights, Michigan
Re: Overheard at Work
« Reply #6079 on: December 22, 2014, 11:43:17 AM »
Care to share the employer's name? Are they hiring?
No shit! I've had a few jobs with what I thought were decent bennies, but I don't think I've ever seen a match over 6%. TSP only matches 1-to-1 on the first 3% and half up to 5%.

I'd suck up some serious pain to get a deal that sweet.

DW gets a match up to 5%.  If you hit 5% they throw an extra 3% on top of that.  So she gets 8% for her 5%.  It's pretty sweet but it's a government job so the rest of the benefits package is pretty good as well.

golden1

  • Handlebar Stache
  • *****
  • Posts: 1464
  • Location: MA
Re: Overheard at Work
« Reply #6080 on: December 22, 2014, 12:07:21 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

Threshkin

  • Pencil Stache
  • ****
  • Posts: 844
  • Location: Colorado
    • My Journal
Re: Overheard at Work
« Reply #6081 on: December 22, 2014, 12:16:09 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

Sounds like she is getting ready to file for divorce.

ketchup

  • Magnum Stache
  • ******
  • Posts: 3354
  • Age: 27
Re: Overheard at Work
« Reply #6082 on: December 22, 2014, 12:16:57 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?
Wow, that's terrifying.  That's a sign of some *serious* issues.

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1030
  • Age: 46
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Overheard at Work
« Reply #6083 on: December 22, 2014, 12:19:15 PM »
We challenge each other for 100$ expenses, I would bring it back to the dealer in a blink!
"The real reason this blog exists, is simply to save the entire human race from destroying itself through overconsumption of its own habitat"

-MMM

vivophoenix

  • Bristles
  • ***
  • Posts: 427
Re: Overheard at Work
« Reply #6084 on: December 22, 2014, 12:20:00 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?
[/quoti wonder if she used the 'household' income to qualify for it.

if she works part time,  i doubt the dealership let her buy this brand new car with credit alone.

either way that bad boy would be going back. and i would seriously consider divorce. this is mroe than just the money. its about trust and thinking about the family as well

Elderwood17

  • Pencil Stache
  • ****
  • Posts: 527
  • Location: Western North Carolina
Re: Overheard at Work
« Reply #6085 on: December 22, 2014, 12:22:12 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?
Agree.  That is some serious communication problem going on!

RWD

  • Handlebar Stache
  • *****
  • Posts: 2042
  • Location: Mississippi
Re: Overheard at Work
« Reply #6086 on: December 22, 2014, 12:50:38 PM »

Pooperman

  • Magnum Stache
  • ******
  • Posts: 2845
  • Age: 28
  • Location: North Carolina
Re: Overheard at Work
« Reply #6087 on: December 22, 2014, 01:38:45 PM »
So, SO and I went to the local social security office to take care of stuff from our recent move. While sitting with the very nice lady putting the numbers into the computer for us, a couple things happened. First, a person behind us was complaining about overdraft fees of $35 each, and said it was the 3rd or 4th time it had happened recently because he didn't get enough money. The other thing was that I had to tell the woman I lost my job earlier this year and she asked how I paid for it. I told her savings (5 months of not being employed). She was a little shocked by that, but then she asked how much I had in my bank account, and I said 6.5k. She was super surprised by that given that SO and I recently moved, I was unemployed for 5 months this year, and somehow made it through without any debt whatsoever.

Timmmy

  • Bristles
  • ***
  • Posts: 446
  • Age: 34
  • Location: Madison Heights, Michigan
Re: Overheard at Work
« Reply #6088 on: December 22, 2014, 01:58:20 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

If I were him, I'd tell her she better like sleeping in the car. 

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1030
  • Age: 46
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Overheard at Work
« Reply #6089 on: December 22, 2014, 02:24:07 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

If I were him, I'd tell her she better like sleeping in the car.

wah! XD

she can get some cloths and stuff in that roomy car as well. finaly, 37K is not to bad for a place to live
"The real reason this blog exists, is simply to save the entire human race from destroying itself through overconsumption of its own habitat"

-MMM

auntie_betty

  • Stubble
  • **
  • Posts: 179
Re: Overheard at Work
« Reply #6090 on: December 22, 2014, 02:27:50 PM »
100% match?!?! Only putting in $500 a month?!?! (MIND EXPLODES) I think I'm cutting a fat hog at 6% match.

In order to share the pain from the UK - what is the IRS max? I don't thunk I'm going to like the answer!

$17,500 in 2014...

And $18k for next year.  One more week and I can revamp all my auto-investments for 2015.
Oh. That's all, just Oh.

LennStar

  • Pencil Stache
  • ****
  • Posts: 997
Re: Overheard at Work
« Reply #6091 on: December 22, 2014, 02:46:51 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

If I were him, I'd tell her she better like sleeping in the car.

wah! XD

she can get some cloths and stuff in that roomy car as well. finaly, 37K is not to bad for a place to live

Right, a tiny house costs 5K more!!!

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 2743
  • Location: WDC
Re: Overheard at Work
« Reply #6092 on: December 22, 2014, 02:57:07 PM »
On topic: my in-laws moved 10 blocks away from me to be closer to the grandkids. They ROUTINELY drive those 10 blocks. Not only that, they bought an SUV "to make it easier to fit the carseats". They drive my kids places MAYBE once a month.
I feel sad whenever I hear something like this.  In many cases, I honestly don't think it's about the money or the car.  I think grandparents will do just about anything to spend more time with their grandkids and they want to remove any possible objection ahead of time. 
I think a lot of people spend many years believing "someday, my life will be better and everyone will love me and want to spend time with me".  Sometimes material things fill those voids, and sometimes material things are used to entice others to spend time with them.  Either way, it's sad.  Consider giving your in-laws a specific job that requires time with your kids.  Ask them to bring your kids to the park every Thursday, or have game day every other Friday night, or Library day once per month.  Anything that makes them feel useful will typically mean that they spend less money trying to fill a void and more time feeling better about themselves.
Sometimes nothing can be a real cool hand

Goldielocks

  • Walrus Stache
  • *******
  • Posts: 5338
  • Location: BC
Re: Overheard at Work
« Reply #6093 on: December 22, 2014, 04:49:34 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

I have seen how spouses with low income can indeed get large loans, but if I were the bank, I would insist that the persons with the income backing the loan are required to sign.

Why is it so easy for spouses without personal income to be qualified for such large loans based on their credit rating only?

Rural

  • Magnum Stache
  • ******
  • Posts: 4568
Re: Overheard at Work
« Reply #6094 on: December 22, 2014, 05:31:32 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

I have seen how spouses with low income can indeed get large loans, but if I were the bank, I would insist that the persons with the income backing the loan are required to sign.

Why is it so easy for spouses without personal income to be qualified for such large loans based on their credit rating only?


Because a married person is half of a legal economic unit. Why is this a question? They aren't qualifying on "credit rating only"; they're qualifying on their joint income, same as the other spouse would.

Goldielocks

  • Walrus Stache
  • *******
  • Posts: 5338
  • Location: BC
Re: Overheard at Work
« Reply #6095 on: December 22, 2014, 07:33:05 PM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?


I have seen how spouses with low income can indeed get large loans, but if I were the bank, I would insist that the persons with the income backing the loan are required to sign.

Why is it so easy for spouses without personal income to be qualified for such large loans based on their credit rating only?


Because a married person is half of a legal economic unit. Why is this a question? They aren't qualifying on "credit rating only"; they're qualifying on their joint income, same as the other spouse would.
The question then is..how can you qualify on joint income with only one signature?  Mortgages don't work that way, so why do cc and car loans?

Rural

  • Magnum Stache
  • ******
  • Posts: 4568
Re: Overheard at Work
« Reply #6096 on: December 23, 2014, 02:39:24 AM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?


I have seen how spouses with low income can indeed get large loans, but if I were the bank, I would insist that the persons with the income backing the loan are required to sign.

Why is it so easy for spouses without personal income to be qualified for such large loans based on their credit rating only?


Because a married person is half of a legal economic unit. Why is this a question? They aren't qualifying on "credit rating only"; they're qualifying on their joint income, same as the other spouse would.
The question then is..how can you qualify on joint income with only one signature?  Mortgages don't work that way, so why do cc and car loans?


Ah. Fair question, that. Don't know why I didn't see it before.

Sanne

  • Stubble
  • **
  • Posts: 144
  • Location: The Netherlands
Re: Overheard at Work
« Reply #6097 on: December 23, 2014, 04:08:12 AM »
We have work weeks of 36 hours (that's normal where I work). This means you have one day off every other week. A co-worker applied to work more, this means he now has to work 5 days every week. He says he likes it better this way, otherwise the 5 day work week seems to long compared to the one with 4 days. So his solution.. to have only 5 day work weeks..
« Last Edit: December 23, 2014, 04:15:55 AM by Sanne »

Timmmy

  • Bristles
  • ***
  • Posts: 446
  • Age: 34
  • Location: Madison Heights, Michigan
Re: Overheard at Work
« Reply #6098 on: December 23, 2014, 06:11:49 AM »
My co-worker is livid.  He went to Germany with his dad for a week.  When he got back, his wife had bought a brand new $37000 Jeep grand Cherokee without telling him she was doing it.  She put it in her name only, but since she is only working 2-3 days a week at minimum wage,the vast majority of the families wages comes from his paycheck. 

If I were him, I'd have her drive it right back to the dealership.  Seriously, who buys a brand new car without at least talking it over with your spouse?!?

If I were him, I'd tell her she better like sleeping in the car.

wah! XD

she can get some cloths and stuff in that roomy car as well. finaly, 37K is not to bad for a place to live

Comically, 37K is exactly what I paid 6 years ago for my house. 

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3634
  • Age: 40
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Overheard at Work
« Reply #6099 on: December 23, 2014, 06:59:18 AM »
I'm confused. I was thinking a 6% match meant "My employer will match what I put in dollar-for-dollar up to 6% of my salary." So 100% match isn't 94% better than a 6% match; it'd be something around 11% better on a $100,000 salary. Still, $11,500 tax-free is nothing to scoff at.
Would it be better if I said "I've never seen a 100% match on more than 6% of my salary"? :)
The comparison is all in how you do the math. My current employer match tops out at 5% of my base pay, or roughly $4k; $17,500 would be 337% more money.
/digression
Quote
On topic: my in-laws moved 10 blocks away from me to be closer to the grandkids. They ROUTINELY drive those 10 blocks. Not only that, they bought an SUV "to make it easier to fit the carseats". They drive my kids places MAYBE once a month.
UGH. *headdesk* that kind of thinking drives me nucking futs!
« Last Edit: December 23, 2014, 07:01:04 AM by zephyr911 »
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.