Author Topic: Overheard at Work  (Read 5508001 times)

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #900 on: October 17, 2013, 12:27:44 PM »
I paid 5$ to go to a wine tasting at a food and drink show here in Toronto . . . they had a bucket at each table that you were supposed to spit the wine out into.  Of the 40+ people at the tasting, not one person used the bucket.  :P  Can't imagine paying for a tasting, then spitting out the drink you paid for . . .

Round these parts, if you do a true tasting, where you spit, a winery is unlikely to charge you a fee.  They see you are a serious taster.  But if what you are really doing is wine "drinking" then I don't see a problem with the fee.  Most will also apply the fee to a bottle you buy.

Do you guys object to $10 beer samplers?  Same concept really.  If you want a single glass of wine, they usually sell those too.
Ah ha, another reason I prefer my local breweries to any far-flung winery!  This reason happens to be cultural. You see, at a true beer tasting you drink the whole damn thing and then ask for another one if you liked it.  If not, you try a different style. Don't even think about spitting it out. I've found the same applies to whiskey.  And tequila.

I'm a BJCP National beer judge.  If I am judging (15 to 30+ beers in a day), I take no more than a couple tiny sips of the vast majority of samples.  Most get dumped after a couple tiny sips on my part.
Of course you do.  But when you're NOT judging, do you ever take a taste of a pint of something new, swish it around in your mouth and then spit it out?  The day I see roving packs of BMWs, Range Rovers and Lexii travelling from brewery to brewery with people in them who are not National Beer Judges but spit perfectly good beer out in a misguided effort to seem like National Beer Judges is the day I switch fully and permanently to hard liquor and homebrews.  Yes, I am lampooning wine culture.  No, I am not taking it back.

I've never seen this with wine.  The roving packs drink the entire tasting, and the pour is a lot bigger when you pay.

The connoisseurs get a very small pour and probably have a reservation in the back room anyways, so you won't see them.  Then they buy a few cases and actually drink the wine.

brewer12345

  • Handlebar Stache
  • *****
  • Posts: 1387
Re: Overheard at Work
« Reply #901 on: October 17, 2013, 12:30:17 PM »
I paid 5$ to go to a wine tasting at a food and drink show here in Toronto . . . they had a bucket at each table that you were supposed to spit the wine out into.  Of the 40+ people at the tasting, not one person used the bucket.  :P  Can't imagine paying for a tasting, then spitting out the drink you paid for . . .

Round these parts, if you do a true tasting, where you spit, a winery is unlikely to charge you a fee.  They see you are a serious taster.  But if what you are really doing is wine "drinking" then I don't see a problem with the fee.  Most will also apply the fee to a bottle you buy.

Do you guys object to $10 beer samplers?  Same concept really.  If you want a single glass of wine, they usually sell those too.
Ah ha, another reason I prefer my local breweries to any far-flung winery!  This reason happens to be cultural. You see, at a true beer tasting you drink the whole damn thing and then ask for another one if you liked it.  If not, you try a different style. Don't even think about spitting it out. I've found the same applies to whiskey.  And tequila.

I'm a BJCP National beer judge.  If I am judging (15 to 30+ beers in a day), I take no more than a couple tiny sips of the vast majority of samples.  Most get dumped after a couple tiny sips on my part.
Of course you do.  But when you're NOT judging, do you ever take a taste of a pint of something new, swish it around in your mouth and then spit it out?  The day I see roving packs of BMWs, Range Rovers and Lexii travelling from brewery to brewery with people in them who are not National Beer Judges but spit perfectly good beer out in a misguided effort to seem like National Beer Judges is the day I switch fully and permanently to hard liquor and homebrews.  Yes, I am lampooning wine culture.  No, I am not taking it back.

If I am at a brewery I am unfamiliar with, I usually ask the server for a sample of a beer I am considering.  They almost always happily bring out about an ounce of whatever I am interested in.  After the sample I make a decision on what to order.
"It happened to me that I drank one beer after another..."

- The Good Soldier Svejk

weston

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Overheard at Work
« Reply #902 on: October 17, 2013, 12:38:28 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #903 on: October 17, 2013, 01:04:32 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

weston

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Overheard at Work
« Reply #904 on: October 17, 2013, 01:53:48 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Mrs WW

  • Stubble
  • **
  • Posts: 102
Re: Overheard at Work
« Reply #905 on: October 17, 2013, 01:55:51 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.


Oh, I loved my Sentra. It just ran and ran like nobodys business! I got a good 48 miles to the gallon in it as well, and thats before i ever heard of hypermiling. Great car!

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #906 on: October 17, 2013, 02:08:08 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Enough to make payments on a BMW, presumably

weston

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Overheard at Work
« Reply #907 on: October 17, 2013, 02:21:09 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Enough to make payments on a BMW, presumably

Not sure how much she was paying in $ but just did a quick search for BMW 3 series and monthly payment for a loan runs a little over $400 a month. Heck. I know janitors and retail clerks paying that amount for car loans.

Not that I approve, but you really don't need to have a high income to qualify for a loan for some of the less expensive BMW models.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #908 on: October 17, 2013, 02:40:41 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Enough to make payments on a BMW, presumably

Not sure how much she was paying in $ but just did a quick search for BMW 3 series and monthly payment for a loan runs a little over $400 a month. Heck. I know janitors and retail clerks paying that amount for car loans.

Not that I approve, but you really don't need to have a high income to qualify for a loan for some of the less expensive BMW models.

Why do janitors and retail clerks make so much?

Albert

  • Handlebar Stache
  • *****
  • Posts: 1254
  • Location: Switzerland
Re: Overheard at Work
« Reply #909 on: October 17, 2013, 02:50:53 PM »
Would you prefer them poor?

weston

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Overheard at Work
« Reply #910 on: October 17, 2013, 02:53:42 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Enough to make payments on a BMW, presumably

Not sure how much she was paying in $ but just did a quick search for BMW 3 series and monthly payment for a loan runs a little over $400 a month. Heck. I know janitors and retail clerks paying that amount for car loans.

Not that I approve, but you really don't need to have a high income to qualify for a loan for some of the less expensive BMW models.

Why do janitors and retail clerks make so much?

They don't. They spend that much.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #911 on: October 17, 2013, 03:49:53 PM »
I still remember the great feeling I had a few years ago when showing up for work one day. I found an open space to  park my Sentra with 280,000 miles right between my office manager's BMW and my associate attorney's brand new Jaguar.

I own the firm and know I was making more than twice their salaries.

Why do office managers get paid so much?  Is there a school of office management?

What do you mean by "so much"? I didn't mention how much she made. Only that she had a BMW and that she earned less than half of what I was making at the time. Not quite following the question.

Enough to make payments on a BMW, presumably

Not sure how much she was paying in $ but just did a quick search for BMW 3 series and monthly payment for a loan runs a little over $400 a month. Heck. I know janitors and retail clerks paying that amount for car loans.

Not that I approve, but you really don't need to have a high income to qualify for a loan for some of the less expensive BMW models.

Why do janitors and retail clerks make so much?

They don't. They spend that much.

Well I'd hope they make the money they spend.  Very few people can run a perpetual deficit.

Would you prefer them poor?

No, it was a joke

vern

  • Pencil Stache
  • ****
  • Posts: 514
Re: Overheard at Work
« Reply #912 on: October 17, 2013, 10:30:03 PM »
My wife's Sentra just passed 236,000 miles tonight.  (Sliding into a quarter of a million!)

Great cars.
"Of my fifty-seven years I have applied at least thirty to forgetting most of what I had learned or read, and since I succeeded in this I have acquired a certain ease and cheer which I should never again like to be without."  World Chess Champion Emanuel Lasker

Vitai Slade

  • Stubble
  • **
  • Posts: 114
  • Age: 27
Re: Overheard at Work
« Reply #913 on: October 18, 2013, 02:53:55 AM »
Okay, so I have one for you.

Today at work in the break room I heard one of my co-workers (who makes way more than I do on a daily basis) complaining that the company was taking too much out of her check for her 401k. Another co-worker stated that she could always reduce it if she needs the extra income. I asked her how much she was putting in and she said 8% (the company matches $0.25 to the $1.00 on the first 8% contributed. No match after that. Not great, but still free money.) I kinda laughed and told her I was putting in almost double that... (15%, max allowable by the plan) and explained to her that you don't even really notice it that much when it's that small. I told her that even at my 15%, I'm only missing about $100 or so per check and that $200 was going into my 401k. That the tax savings alone makes it worth it, then the match on top of that is even better. She of course stated that she has a kid and it makes a difference to her. I just kinda shook my head.

...I also conveniently left out the part about saving an extra $1,000 each month on top of my 401k savings... and claiming 0 allowances so that I get a nice windfall each year... and saving $500 each month for my vacation account (I like to take lots of vacations... live that retired life even in the midst of having to work for now). Maybe if she didn't go party every weekend at the bars and clubs.......
« Last Edit: October 18, 2013, 02:55:38 AM by Vitai Slade »

Zamboni

  • Handlebar Stache
  • *****
  • Posts: 1750
Re: Overheard at Work
« Reply #914 on: October 18, 2013, 06:07:19 AM »
^She parties every weekend at bars and clubs . . . and she has a child?

I hope her child turns into a very responsible adult who will let her little old lady self move in when she runs out of money.

Donovan

  • Stubble
  • **
  • Posts: 185
  • Location: Indiana
Re: Overheard at Work
« Reply #915 on: October 18, 2013, 06:26:49 AM »
^She parties every weekend at bars and clubs . . . and she has a child?

I hope her child turns into a very responsible adult who will let her little old lady self move in when she runs out of money.

My fiance has a little side gig baby sitting for a loooooot of parents like this right now to help pay for grad school.  I was amazed too, but apparently there are 20-30 something parents out there who do go out and get sloshed on a regular basis and then come home to these 2-6 y/o children every weekend.  They will even pay a $50 premium for a baby sitter on top of whatever plans they have in order to do it.  There are several regulars who do this nearly every weekend.

It works out well for us, because she pulls in nearly $400/month with easy work, but I can't imagine what is going through these parent's heads >.<
This is not us against them, itís us for us.

jrhampt

  • Pencil Stache
  • ****
  • Posts: 980
  • Age: 39
  • Location: Connecticut
Re: Overheard at Work
« Reply #916 on: October 18, 2013, 07:13:24 AM »
Huh.  I've never seen a $5 wine tasting - here in CT if you go to the wineries they can range from $6-$12.  $6 is the cheapest I've seen, and they tend to be more like $10-$12.  That usually includes a glass, but I can only use so many wine glasses.

Norrie

  • Bristles
  • ***
  • Posts: 320
  • Location: The Bible belt
Re: Overheard at Work
« Reply #917 on: October 18, 2013, 07:37:17 AM »
It hadn't occurred to me until reading this thread, but pretty much everyone at work is frugal. We almost never go out for lunch, though we did get Mexican food once this week. It will be months before we do again. Everyone drives cars that are paid in full. Even the big boss, who drives some sort of massive Navigator or something, gets all of her cars for free when her parents pass them down to her. Obviously gas must suck for her, but she's not out buying fancy cars with her big salary.

And any conversations about money that have happened at work have been about getting out of debt, investing, or saving for a house. One co-worker recently let me borrow two of her books on investing.

I admit that I'd enjoy hearing some really stupid comment about money, but at this point, it's most likely to be ME saying it.

elaine amj

  • Handlebar Stache
  • *****
  • Posts: 1533
  • Location: Ontario
Re: Overheard at Work
« Reply #918 on: October 18, 2013, 09:45:16 AM »
A while ago, we were all chatting and the subject of debt came up. The big boss (Who makes in the low six figures and is single, no kids) said he doesn't know anyone without debt. It was just inevitable.

I bit my tongue really really hard.
« Last Edit: October 18, 2013, 05:36:33 PM by elaine amj »

stevesteve

  • Guest
Re: Overheard at Work
« Reply #919 on: October 18, 2013, 10:43:24 AM »
A while ago, we were all chatting and the subject of debt came up. The big boss (Who makes in the low six figures and is single, no kids) said he doesn't know anyone without debt. It was just inevitable.

I bit my tonigue really really hard.

I'm guessing he doesn't just mean mortgage there?

MilStachian

  • 5 O'Clock Shadow
  • *
  • Posts: 87
  • Location: Washington, D.C.
Re: Overheard at Work
« Reply #920 on: October 18, 2013, 04:39:21 PM »
Okay, so I have one for you.

Today at work in the break room I heard one of my co-workers (who makes way more than I do on a daily basis) complaining that the company was taking too much out of her check for her 401k. Another co-worker stated that she could always reduce it if she needs the extra income. I asked her how much she was putting in and she said 8% (the company matches $0.25 to the $1.00 on the first 8% contributed. No match after that. Not great, but still free money.) I kinda laughed and told her I was putting in almost double that... (15%, max allowable by the plan) and explained to her that you don't even really notice it that much when it's that small. I told her that even at my 15%, I'm only missing about $100 or so per check and that $200 was going into my 401k. That the tax savings alone makes it worth it, then the match on top of that is even better. She of course stated that she has a kid and it makes a difference to her. I just kinda shook my head.

...I also conveniently left out the part about saving an extra $1,000 each month on top of my 401k savings... and claiming 0 allowances so that I get a nice windfall each year... and saving $500 each month for my vacation account (I like to take lots of vacations... live that retired life even in the midst of having to work for now). Maybe if she didn't go party every weekend at the bars and clubs.......

It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.
Use it up, wear it out, make it do, or do without.

elaine amj

  • Handlebar Stache
  • *****
  • Posts: 1533
  • Location: Ontario
Re: Overheard at Work
« Reply #921 on: October 18, 2013, 05:38:25 PM »
A while ago, we were all chatting and the subject of debt came up. The big boss (Who makes in the low six figures and is single, no kids) said he doesn't know anyone without debt. It was just inevitable.

I bit my tongue really really hard.

I'm guessing he doesn't just mean mortgage there?

I wish that was all he meant.

ny.er

  • 5 O'Clock Shadow
  • *
  • Posts: 52
Re: Overheard at Work
« Reply #922 on: October 18, 2013, 08:39:23 PM »
This thread is so much fun to read!

Vitai Slade

  • Stubble
  • **
  • Posts: 114
  • Age: 27
Re: Overheard at Work
« Reply #923 on: October 21, 2013, 01:45:57 AM »
Okay, so I have one for you.

Today at work in the break room I heard one of my co-workers (who makes way more than I do on a daily basis) complaining that the company was taking too much out of her check for her 401k. Another co-worker stated that she could always reduce it if she needs the extra income. I asked her how much she was putting in and she said 8% (the company matches $0.25 to the $1.00 on the first 8% contributed. No match after that. Not great, but still free money.) I kinda laughed and told her I was putting in almost double that... (15%, max allowable by the plan) and explained to her that you don't even really notice it that much when it's that small. I told her that even at my 15%, I'm only missing about $100 or so per check and that $200 was going into my 401k. That the tax savings alone makes it worth it, then the match on top of that is even better. She of course stated that she has a kid and it makes a difference to her. I just kinda shook my head.

...I also conveniently left out the part about saving an extra $1,000 each month on top of my 401k savings... and claiming 0 allowances so that I get a nice windfall each year... and saving $500 each month for my vacation account (I like to take lots of vacations... live that retired life even in the midst of having to work for now). Maybe if she didn't go party every weekend at the bars and clubs.......

It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.

To me it's a windfall. There is no way to ensure that I get exactly $0 back at the end of the year, but there IS a (mostly) sure way to not have to pay IN anything at that end of the year... and that's by overpaying on my taxes during the year. The way I save money, I have a set $ amount going into my retirement accounts each month. My checks vary from week to week due to my job being 'tip-based' which is why I do it this way. The amount saved doesn't change based on how much my checks equal out to, be it a good week or bad, so a small increase (or decrease) in my check each week would "compound" to exactly $0 because none of that money is going into savings. It is generally allocated as 'leftover' spending money which I may do as I please with... and it usually gets spent - on allowing myself a nice meal (a rarity) or something else I've been wanting (a new bike), or whatever else. My budget is already pretty tight, so it sometimes takes a while to build that 'leftover' money into something useable and by squeezing it even more by overpaying is just another way to make it tougher on myself and forcibly build up more savings, chipping away at the "leftover" on the top. When the end of the year comes around, I get my refund and I take it (as well as what I can out of my savings) to max out my ROTH.

Warren Buffet said it best when he told people, "Don't save what is left after spending; spend what is left after saving." This is what I do.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7121
  • Registered member
Re: Overheard at Work
« Reply #924 on: October 21, 2013, 02:17:20 AM »
Okay, so I have one for you.

Today at work in the break room I heard one of my co-workers (who makes way more than I do on a daily basis) complaining that the company was taking too much out of her check for her 401k. Another co-worker stated that she could always reduce it if she needs the extra income. I asked her how much she was putting in and she said 8% (the company matches $0.25 to the $1.00 on the first 8% contributed. No match after that. Not great, but still free money.) I kinda laughed and told her I was putting in almost double that... (15%, max allowable by the plan) and explained to her that you don't even really notice it that much when it's that small. I told her that even at my 15%, I'm only missing about $100 or so per check and that $200 was going into my 401k. That the tax savings alone makes it worth it, then the match on top of that is even better. She of course stated that she has a kid and it makes a difference to her. I just kinda shook my head.

...I also conveniently left out the part about saving an extra $1,000 each month on top of my 401k savings... and claiming 0 allowances so that I get a nice windfall each year... and saving $500 each month for my vacation account (I like to take lots of vacations... live that retired life even in the midst of having to work for now). Maybe if she didn't go party every weekend at the bars and clubs.......

It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.

To me it's a windfall. There is no way to ensure that I get exactly $0 back at the end of the year, but there IS a (mostly) sure way to not have to pay IN anything at that end of the year... and that's by overpaying on my taxes during the year. The way I save money, I have a set $ amount going into my retirement accounts each month. My checks vary from week to week due to my job being 'tip-based' which is why I do it this way. The amount saved doesn't change based on how much my checks equal out to, be it a good week or bad, so a small increase (or decrease) in my check each week would "compound" to exactly $0 because none of that money is going into savings. It is generally allocated as 'leftover' spending money which I may do as I please with... and it usually gets spent - on allowing myself a nice meal (a rarity) or something else I've been wanting (a new bike), or whatever else. My budget is already pretty tight, so it sometimes takes a while to build that 'leftover' money into something useable and by squeezing it even more by overpaying is just another way to make it tougher on myself and forcibly build up more savings, chipping away at the "leftover" on the top. When the end of the year comes around, I get my refund and I take it (as well as what I can out of my savings) to max out my ROTH.

Warren Buffet said it best when he told people, "Don't save what is left after spending; spend what is left after saving." This is what I do.

Windfalls are not earned, nor are they expected.  In contrast, the money in your tax refund was yours all along -- you earned it -- and you know that you'll be getting it back when you file for your refund.

jba302

  • Pencil Stache
  • ****
  • Posts: 624
Re: Overheard at Work
« Reply #925 on: October 21, 2013, 07:45:34 AM »
It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.

I had a boss that took this as far out as possible - he took as many deductions as possible so he would end up owing every year. His reason was that he could get interest on money he owed, even if it wasn't that much. Ballsy for only a couple hundred bucks a year.

BYUvol

  • 5 O'Clock Shadow
  • *
  • Posts: 20
Re: Overheard at Work
« Reply #926 on: October 21, 2013, 04:06:49 PM »
It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.

I had a boss that took this as far out as possible - he took as many deductions as possible so he would end up owing every year. His reason was that he could get interest on money he owed, even if it wasn't that much. Ballsy for only a couple hundred bucks a year.

You only get 1 "freebie" year of doing that. After the first year if you substantially underpay the IRS starts charging interest AND penalties.

Source: Personal experience when I forgot to change withholding rate after my wife got a full-time job.

ender

  • Magnum Stache
  • ******
  • Posts: 3783
Re: Overheard at Work
« Reply #927 on: October 21, 2013, 06:00:29 PM »
For the time being, I don't mind overpaying on taxes since I'm saving for a house downpayment much further into the future than April of next year

So even if I overpayed $5,000 a year I'm losing a small percentage of interest over a few months it is compensated by feeling as though I have a lot less money each month, which probably affects my spending in a slight enough effect to net me more than the trivial interest.

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 6104
  • Location: Australia
Re: Overheard at Work
« Reply #928 on: October 21, 2013, 06:55:21 PM »
Workmate: Every time I travel overseas I buy at least ten pairs of shoes and at least ten new outfits!
Me: But you travel overseas several times a year, how do you wear so many outfits?
Workmate: Oh, I don't. I buy them and never wear them. I have crates and crates of shoes in my house that I've never worn. My husband thinks I'm mad. But shopping makes me happy!
Me: But doesn't it only make you happy for the five minutes you spend buying the shoes? If you're not wearing them, how can owning them make you happy?
Workmate: Well, some people like to decorate their house, and some people like to play sport. I like shopping! It's my hobby and it makes me happy even if I never wear what I buy.

:-(

Melody

  • Handlebar Stache
  • *****
  • Posts: 1140
  • Age: 28
  • Location: Australia
Re: Overheard at Work
« Reply #929 on: October 21, 2013, 06:59:40 PM »
Workmate: Every time I travel overseas I buy at least ten pairs of shoes and at least ten new outfits!
Me: But you travel overseas several times a year, how do you wear so many outfits?
Workmate: Oh, I don't. I buy them and never wear them. I have crates and crates of shoes in my house that I've never worn. My husband thinks I'm mad. But shopping makes me happy!
Me: But doesn't it only make you happy for the five minutes you spend buying the shoes? If you're not wearing them, how can owning them make you happy?
Workmate: Well, some people like to decorate their house, and some people like to play sport. I like shopping! It's my hobby and it makes me happy even if I never wear what I buy.

:-(

That's f*cked up!

Anatidae V

  • Walrus Stache
  • *******
  • Posts: 6674
  • Age: 28
  • Location: West Aus yo
  • Naps for all!
Re: Overheard at Work
« Reply #930 on: October 21, 2013, 10:10:40 PM »
From Perth, I can only imagine she's going to Bali. I hope someone over there has at least had the business sense to convince her to be their regular client. On a side note - what size is she? :)

MilStachian

  • 5 O'Clock Shadow
  • *
  • Posts: 87
  • Location: Washington, D.C.
Re: Overheard at Work
« Reply #931 on: October 21, 2013, 10:13:24 PM »
Okay, so I have one for you.

Today at work in the break room I heard one of my co-workers (who makes way more than I do on a daily basis) complaining that the company was taking too much out of her check for her 401k. Another co-worker stated that she could always reduce it if she needs the extra income. I asked her how much she was putting in and she said 8% (the company matches $0.25 to the $1.00 on the first 8% contributed. No match after that. Not great, but still free money.) I kinda laughed and told her I was putting in almost double that... (15%, max allowable by the plan) and explained to her that you don't even really notice it that much when it's that small. I told her that even at my 15%, I'm only missing about $100 or so per check and that $200 was going into my 401k. That the tax savings alone makes it worth it, then the match on top of that is even better. She of course stated that she has a kid and it makes a difference to her. I just kinda shook my head.

...I also conveniently left out the part about saving an extra $1,000 each month on top of my 401k savings... and claiming 0 allowances so that I get a nice windfall each year... and saving $500 each month for my vacation account (I like to take lots of vacations... live that retired life even in the midst of having to work for now). Maybe if she didn't go party every weekend at the bars and clubs.......

It's not a windfall if it's your money. By overpaying your taxes each pay period you're giving the government an interest free loan it doesn't have to pay back until the following April.  In the meantime you've missed out on a year's worth of growth.

It would make more sense to ensure you get $0 back at the end of the year. That means you're maximizing how much money you get each pay period, making more money available to add to your $1000/mn savings, or significant vacation fund.

To me it's a windfall. There is no way to ensure that I get exactly $0 back at the end of the year, but there IS a (mostly) sure way to not have to pay IN anything at that end of the year... and that's by overpaying on my taxes during the year. The way I save money, I have a set $ amount going into my retirement accounts each month. My checks vary from week to week due to my job being 'tip-based' which is why I do it this way. The amount saved doesn't change based on how much my checks equal out to, be it a good week or bad, so a small increase (or decrease) in my check each week would "compound" to exactly $0 because none of that money is going into savings. It is generally allocated as 'leftover' spending money which I may do as I please with... and it usually gets spent - on allowing myself a nice meal (a rarity) or something else I've been wanting (a new bike), or whatever else. My budget is already pretty tight, so it sometimes takes a while to build that 'leftover' money into something useable and by squeezing it even more by overpaying is just another way to make it tougher on myself and forcibly build up more savings, chipping away at the "leftover" on the top. When the end of the year comes around, I get my refund and I take it (as well as what I can out of my savings) to max out my ROTH.

Warren Buffet said it best when he told people, "Don't save what is left after spending; spend what is left after saving." This is what I do.

Fair enough.  As a taxpayer, I thank you for your generosity.
Use it up, wear it out, make it do, or do without.

Rbuckyfuller

  • 5 O'Clock Shadow
  • *
  • Posts: 32
Re: Overheard at Work
« Reply #932 on: October 21, 2013, 11:46:16 PM »
Me, a year ago (and before finding MMM) at work with a guy who makes the same ridiculous overpay that I do.  (NYC BigLaw Lawyer, you can look it up on the interwebs if you like).  Our employer did a 8% of gross pay required contribution to the 401k and then you could elect another $17,500 and so could put away double what a normal person could tax-free.

Him-- complaining about having to put away the 8%.

Me- I say that I get it, but that I like having the loop hole that I can put away more than the normal $17,500 maxout.

Him -- "Wait, you put away the maximum on TOP of the 8%?!?"

ME-- Yeah.

Him -- What do you live on?!?

Me-- The other portion of the massive amount of money we make.

Me-- *silence as I think about the fact that I also destroyed all my student loans have a taxable investment account**

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 6104
  • Location: Australia
Re: Overheard at Work
« Reply #933 on: October 21, 2013, 11:57:10 PM »
From Perth, I can only imagine she's going to Bali. I hope someone over there has at least had the business sense to convince her to be their regular client. On a side note - what size is she? :)

Bali, Vietnam, Singapore, sometimes Europe.

An eight or nine in shoes? I assume that people like her are responsible for the never-worn clothes and shoes in op shops. She dresses pretty funky for her age, so there could be some great bargains out there from her cast-offs.

I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty". Apparently this is not very many?

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 6104
  • Location: Australia
Re: Overheard at Work
« Reply #934 on: October 22, 2013, 12:07:34 AM »
Aaaaand another one:

"I don't see how I could possibly save more money than I already do!" - somebody who buys lunch everyday, eats takeaway three or four nights a week and won't even walk to the shops five minutes from her house.

Anatidae V

  • Walrus Stache
  • *******
  • Posts: 6674
  • Age: 28
  • Location: West Aus yo
  • Naps for all!
Re: Overheard at Work
« Reply #935 on: October 22, 2013, 01:27:31 AM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 6104
  • Location: Australia
Re: Overheard at Work
« Reply #936 on: October 22, 2013, 01:52:30 AM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

Too small for me and my giant feet!

Yeah, I consider myself pretty bad in terms of how much I own. I have enough clothing to last me a year or more. Yet apparently this is far, far less than most girls.

In one of my postgrad courses I asked the girls in my study group how much they spend a year on clothing. They added it up quickly and... it was at least $10,000 "but probably more because that's just based on my normal weekly shopping trips, not big trips when I go overseas and buy loads of clothes or anything".

????

These girls earned about half what I did at the time.

Anatidae V

  • Walrus Stache
  • *******
  • Posts: 6674
  • Age: 28
  • Location: West Aus yo
  • Naps for all!
Re: Overheard at Work
« Reply #937 on: October 22, 2013, 03:51:40 AM »
In one of my postgrad courses I asked the girls in my study group how much they spend a year on clothing. They added it up quickly and... it was at least $10,000 "but probably more because that's just based on my normal weekly shopping trips, not big trips when I go overseas and buy loads of clothes or anything".

In the interest of comparison, I did indeed spend $4.3k on "Attire" last year, so, I'm not fantastic at this yet :) (actually, looking at my numbers from last year made me feel a little like swearing off ever spending money again).

SwordGuy

  • Magnum Stache
  • ******
  • Posts: 3023
  • Location: Fayetteville, NC
    • Flipping Fayetteville
Re: Overheard at Work
« Reply #938 on: October 22, 2013, 05:41:31 AM »
A couple of times in my career I've had to upgrade my business work warddrobe beyond the normal IT dockers and polo shirt level.

I took an exec position overseas and had to wear nice suits every day.  I spent $3,000 for that.  Suits, shirts, shoes, belts, etc.  Basically, enough to last for a whole year. 

Of course, I was making an extra $35,000 in salary for that business investment...  Plus free transportation and lodging there...  Plus no income tax on the first $90,000 or so in salary for that year...   Plus there wasn't a whole lot to buy because it was one of the poorest countries in the world so I really saved on impulse shopping...  No internet impulse shopping because you had to go to the post office, wait in line and ask if there was a package for you every day until it showed up...

(Yes, the irony of having to dress that well in one of the poorest countries in the world isn't lost on me.)

We paid off everything we owed except for the house.  We made made one house payment per paycheck, so we were making 3 to 4 payments a month.   We saved enough cash to replace our soon-to-die car with a nice used car.

If I could get another gig like that for a few years AND have my family with me the whole time I would do so in a heartbeat.

I actually liked the place very much.  Great people, both locals and westerners.

non geordie beth

  • 5 O'Clock Shadow
  • *
  • Posts: 30
Re: Overheard at Work
« Reply #939 on: October 22, 2013, 06:48:01 AM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

I echo your wtf. I have four. Including my wedding dress which is now far too big for me!

I'm gonna start asking people how many dresses they own!

DocCyane

  • Bristles
  • ***
  • Posts: 389
  • Location: USA
  • Keep going. You're doing just fine.
Re: Overheard at Work
« Reply #940 on: October 22, 2013, 07:18:50 AM »
I owned a dress once. It was horrible.
Everything will be okay in the end. If it's not okay, it's not the end.

kimmarg

  • Bristles
  • ***
  • Posts: 489
  • Location: Northern New England
Re: Overheard at Work
« Reply #941 on: October 22, 2013, 08:27:52 AM »
In one of my postgrad courses I asked the girls in my study group how much they spend a year on clothing. They added it up quickly and... it was at least $10,000 "but probably more because that's just based on my normal weekly shopping trips, not big trips when I go overseas and buy loads of clothes or anything".

In the interest of comparison, I did indeed spend $4.3k on "Attire" last year, so, I'm not fantastic at this yet :) (actually, looking at my numbers from last year made me feel a little like swearing off ever spending money again).

Ok this whole thread is making my feel much better. I just spent $100 on a merino wool sweater I'd been combing the sale racks for for almost a year (full price $150).  I felt like this was rediculously expensive, but then again checking every few weeks to see if it was more on sale was getting rediculous too. This brings my yearly total on clothing to $440, and quite a bit of that was scrubs for my other half.

rockstache

  • Handlebar Stache
  • *****
  • Posts: 2127
  • Age: 2013
  • Location: Northeast
Re: Overheard at Work
« Reply #942 on: October 22, 2013, 01:56:33 PM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

I echo your wtf. I have four. Including my wedding dress which is now far too big for me!

I'm gonna start asking people how many dresses they own!

I have about 5. Frocktober wouldn't last very long with me.

aclarridge

  • Guest
Re: Overheard at Work
« Reply #943 on: October 22, 2013, 02:56:55 PM »
It feels like my wife has a lot of dresses (she does wear the summer ones to work reasonably often) - she has maybe 10-15. 20 max.

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2955
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Overheard at Work
« Reply #944 on: October 22, 2013, 03:51:26 PM »
Quote
I have about 5. Frocktober wouldn't last very long with me.

It could!! Check this out:

One woman, one dress, one year. So inspirational!

cbgg

  • Stubble
  • **
  • Posts: 192
  • Location: Vancouver, BC
Re: Overheard at Work
« Reply #945 on: October 22, 2013, 05:14:33 PM »
Perhaps the millenials will "look" financially more like the generation who lived through the great depression, rather than generation x or the baby boomers.


I have a hunch that it's a combo of a Millenial combined with an IT thing.  I work in software and in my office it seems like the young engineers tend to be very financially savvy and frugally minded.  They are more interested in intellectual pursuits than buying stuff that makes them look cool, and they are too smart and skeptical to get sucked down the spending rabbit hole.  (Many, not all.)

Melody

  • Handlebar Stache
  • *****
  • Posts: 1140
  • Age: 28
  • Location: Australia
Re: Overheard at Work
« Reply #946 on: October 22, 2013, 05:36:04 PM »
In my office, for us young ones, the separation seems to based on the level of parental assistance. Those with parents who provide all and treat their kids paycheques as pocket money have finacially irresponsible kids... (question...is it appropriate to pay your kids rent if they make 80k?i think not). Most of us who need to pay our own ways are quite frugal. I saw the same split in my last office...so i think half of the gen y will be super frugal (grew up during gfc and have seen rents triple in a 6 year period) the other half will be the negative stereotype of entitlement. (all of my gen x friends would have rather gone hungry than rely on parents after about age 21...but for many gen ys parental assistance at 25,26,27 is normal).

Anatidae V

  • Walrus Stache
  • *******
  • Posts: 6674
  • Age: 28
  • Location: West Aus yo
  • Naps for all!
Re: Overheard at Work
« Reply #947 on: October 22, 2013, 07:00:32 PM »
Melody, those parents are nuts! And I say this as one who went through Uni almost 100% supported by family. All their rent, though - that's huge!

Rural

  • Magnum Stache
  • ******
  • Posts: 4136
Re: Overheard at Work
« Reply #948 on: October 23, 2013, 07:52:20 AM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

I echo your wtf. I have four. Including my wedding dress which is now far too big for me!

I'm gonna start asking people how many dresses they own!

I own way more, but I also don't wear pants, ever. I still own an unreasonable number of skirts, though.

I own two, both bought at thrift stores. Three if you count the wedding dress I haven't yet brought myself to get rid of all these years later, but it was bought at a thrift store, too.

Our annual clothing budget (back when we budgeted) was $400 for the two of us, but we never spend that much.

mpbaker22

  • Handlebar Stache
  • *****
  • Posts: 1095
Re: Overheard at Work
« Reply #949 on: October 23, 2013, 07:13:56 PM »
Quote:I'm considered a freak at work because when the other girls asked how many dresses I own, I said "way more than anyone needs, maybe even twenty or thirty".

Wtf? I did frocktober at work last year,different dress for each work day in October... I do have some ball/cocktail dresses I didn't wear, but I also had to raid my sisters closet and wore a skirt instead on at least one day... But I'm a top+bottoms kind of person, maybe I have an unreasonable amount of tops? Haven't counted yet. But I will. Also her shoes are too big :(

I echo your wtf. I have four. Including my wedding dress which is now far too big for me!

I'm gonna start asking people how many dresses they own!

I own way more, but I also don't wear pants, ever. I still own an unreasonable number of skirts, though.

I own two, both bought at thrift stores. Three if you count the wedding dress I haven't yet brought myself to get rid of all these years later, but it was bought at a thrift store, too.

Our annual clothing budget (back when we budgeted) was $400 for the two of us, but we never spend that much.

I've spent $89 this year on clothing.  That includes 3 pairs of shoes.  I work in a business casual environment where I wear button down shirts, slacks, etc.  Not sure how the hell someone would spend $4000+ on clothes.