Author Topic: Overheard at Work  (Read 384174 times)

spider1204

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Overheard at Work
« on: November 13, 2012, 09:59:41 PM »
Anyone else hear the craziest things while at work?

Today it was, "Well the commutes gonna be a lot longer, but it was only $100 more per month for a 3 bedroom"

frugalcalan

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Re: Overheard at Work
« Reply #1 on: November 14, 2012, 09:58:54 AM »
Yesss.

Plenty of coworkers talk about how broke they are all the time, in between conversations about new clothes/what new bar is hot/all that good stuff.

Another coworker got a second job to pay for her 15 year old cat's cancer surgery.  Better than spending savings on it?  If she has any savings.

Another coworker who talks about money issues just moved into a new apartment, because she hates having a roommate.  Except this one is $500 more a month.  That's on top of her $40 manicure that she gets "every two weeks or so" which "means it costs only about $10 a month."  I have NO idea how those numbers are supposed to magically get.

Or there's our receptionist, who lives in a pre-furnished apartment in the heart of a big city.  But apparently her family comes from money.

And just so many things.  It's absurd.
"Give a man a fire, and he's warm for a day.  But set fire to him and he's warm for the rest of his life" - Jingo

galaxie

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Re: Overheard at Work
« Reply #2 on: November 14, 2012, 01:05:14 PM »
I once made a "...but I'll be retired by then" comment to an acquaintance at work (during a discussion about the far future).  His bushy, bushy eyebrows shot up into his even bushier hair and he asked, "Really?  Are you independently wealthy or something?"

No, dumbass, but I have a $100k+/year job and I do math for a living.  And so do you.  Why are you not retired yet?

okits

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Re: Overheard at Work
« Reply #3 on: November 15, 2012, 05:52:17 AM »
No, dumbass, but I have a $100k+/year job and I do math for a living.  And so do you.  Why are you not retired yet?

LOL. Too bad it was work, that would have been a great punch in the face!

Lots of things get said at work. Anything consumer debt-related makes me cringe on the inside. Ditto on seeing lots of take-out coffee cups, take-away breakfasts and lunches.  I do have one non-spendy coworker who is trying to pay off debt, so I am not considered a total freak for rarely partaking.

Self-employed-swami

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Re: Overheard at Work
« Reply #4 on: November 15, 2012, 07:01:25 AM »
I was out for dinner with a co-worker last night (work paid) and he was talking about his new giant diesel truck.  I asked him what he paid for it, and he said it was "A steal at only $60,000". 

Holy fucking fuck!  Apparently the sticker price is $75,000.  :o  And he has it financed, probably over 7 years at that price!

I also have to have a truck for work, but I have a 2006 Tundra that I paid $15,500 cash for 2 years ago.

A small business-owning SWAMI working herself towards FI.

Kamikaze Emu

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Re: Overheard at Work
« Reply #5 on: November 15, 2012, 09:46:13 AM »
barf!

I cannot even imagine the cost to driving that vehicle, let alone owning it.

Self-employed-swami

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Re: Overheard at Work
« Reply #6 on: November 15, 2012, 09:50:42 AM »
I don't know what the insurance would cost (mine is more expensive than it would be normally, because it is a 100% work-use vehicle) but the fuel is about what mine costs, or slightly less.  Still though, to spend an additional $45,000 to get slightly better fuel milage, is mind boggling!
A small business-owning SWAMI working herself towards FI.

plantingourpennies

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Re: Overheard at Work
« Reply #7 on: November 18, 2012, 09:28:34 AM »
I work in IT sales; the office is chock full of really smart people in their early 20's who are pulling down between 60-100k per year.

These youngsters I work with seem to be more frugal than average. I wouldn't call them mustachian, but these kids are the millennials who have seen the following during their formative years:

-Negligible stock market returns in the past decade
-Two wars that have killed some of their friends and helped create massive amounts of debt that their generation will likely shoulder
-The worst recession since the "big one" in '29
-Crushing unemployment and student loan debt (which cannot be discharged even in bankruptcy!) for their cohorts who are not smart/skilled/lucky enough to land a good job

Perhaps the millenials will "look" financially more like the generation who lived through the great depression, rather than generation x or the baby boomers.

Best,
Mr. Pop
PlantingOurPennies- Our experience with personal finance.

sisca

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Re: Overheard at Work
« Reply #8 on: November 18, 2012, 10:34:51 AM »
Mr PoP, sure hope you are right.

As young people see people in their 50's working hard at jobs they hate with no chance of retirement anytime soon, we can only hope they learn something from it.

In one of my first jobs as a teenager, my boss was a 20 something man working at something completely different than his education would suggest. He told me that his biggest fear was to wake up at 40, hate his job and not afford to do anything about it. That part really stuck with me, and now in my mid 30's I still occasionally think about it.

grantmeaname

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Re: Overheard at Work
« Reply #9 on: November 19, 2012, 07:42:41 AM »
-Negligible stock market returns in the past decade
True only if by "the past decade" you're measuring from the peak of the dotcom bubble. If you mean "the last ten years", you're looking at a 64% return, which is 5% annualized. And in the long run, what matters for investors isn't just the price but also the value the companies produce and the income they earn. There's been a large increase in earnings, masked by a plummeting market P/E ratio. I understand that the prices have psychological importance, and certainly can cause disillusionment with the market, which I think was your point, but it certainly hasn't been a lost decade.

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-Two wars that have killed some of their friends and helped create massive amounts of debt that their generation will likely shoulder
The wars aren't nearly as expensive as the senior entitlements (see here, for example. Warning, big image.). I do remember how dramatic and powerful it was when a recent graduate of my high school was killed in Iraq, though I was probably 10 at the time. Given how rare US deaths in the War on Terror (and Iraq) have been, though, it's hard for me to imagine this having nearly as much psychic weight as Vietnam, Korea, or the World Wars.

Quote
-The worst recession since the "big one" in '29
Yeah, you've got me there. I don't think it's caused human suffering to the degree that the two are even comparable, though.

Quote
-Crushing unemployment and student loan debt (which cannot be discharged even in bankruptcy!) for their cohorts who are not smart/skilled/lucky enough to land a good job
Unemployment is high for my generation (the highest in 60 years), but it's still under 20%. If you manage to be more skilled than the least-skilled fifth of your classmates and colleauges, you'll end up with a job. Even here in the Ohio rust belt, after underemployment is added in, the rate only rises from one in four to one in five. As for student loans being nondischargeable in bankruptcy: if they were dischargeable, what would stop you from discharging them the second you graduated? They're not secured by a reposessible asset, so if they're going to be priced cheaply (like other secured loans are), they need to have something guaranteeing their repayment. They only way that they can meaningfully tied to your earning potential is if they're tied to you, and not able to be discarded. Finally, that's a good thing! It makes them cheaper to borrow, which increases educational accessibility.

Quote
Perhaps the millenials will "look" financially more like the generation who lived through the great depression, rather than generation x or the baby boomers.
We can only hope.

danzabar

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Re: Overheard at Work
« Reply #10 on: November 19, 2012, 09:14:54 AM »
Oh I can top all of these!
My coworker was recently talking to me about how her husband had to file bankruptcy for the second time personally, but was able to transfer his business to her name to keep it from being seized. Then in the exact same sentence she said that he was encouraging her to buy a new ford escape by writing it off as a business expense because the new models are more fuel efficient and her car is almost paid off/ almost off warranty (she currently drives a ford escape).
Words can't even explain the pain this caused me... I wouldn;t care if they didn't have a young child at home

AnnaD

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Re: Overheard at Work
« Reply #11 on: November 19, 2012, 01:05:42 PM »
My colleagues are constantly vying for the position of top financial dumbassery of the week.

I have a co-worker that recently left the company, but during her tenure here I think I heard from nearly all of her bill collectors - cable, cell phone, car, landlord... you name it!
At Halloween she decided at the last minute to do this elaborate costume and attend a glitzy masqued ball.  All that would have been fine, but when she got to work after the weekend and showed everyone pictures while gushing about what a great time she had she quickly followed-up with "Now I have to call my landlord and tell her rent will be late because I spent so much on the weekend."  I just rolled my eyes.

To continue the shenanigans of the co-worker above: She has taken several 401k loans over the years.  Since she recently quit and still had an outstanding loan I asked her how she was going to repay it.  She bluntly said she wouldn't repay it nor could she even if she wanted to.  I wasn't surprised.  She has been trying really hard to wriggle out of her student loans for years, too.  They have been in deferment, on IBR, etc and she has never paid a single penny of principle only the occasional interest payment.

I think what is most astounding about this former co-worker is that at the beginning of the year she wanted to buy house.  Not just any house, a $250k house.  She can't even pay her astronomically high rent $900/mo on time most months!

My boss during the springtime had his A/C go out.  He promptly called up the finance lady at my company and asked for a 401k loan to cover the replacement.  This is a guy who is around 50y/o and didn't start saving for retirement until 2005!
 When we were discussing this course of action he rationalized it by saying, "But people don't just have an extra $6000 laying around for things like this!"  I snarked back saying, "Yeah, it's too bad someone hasn't invented the idea of savings accounts."  Probably not my most shining moment in my small attempts to give people a tiny inkling of financial literacy, but he did pause for a moment before we continued talking.

I have more stories, but for another time.

10moreyears

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Re: Overheard at Work
« Reply #12 on: November 19, 2012, 01:16:38 PM »
AnnaD
I could write a book with stories like this. I think my favorite was the employee that came into my office and spent 10 minutes telling me a tale of woe about their financial situation. Finally he said the bottom line was he needed to take out a 401k loan. My response was "you never signed up for the 401k plan!"

galaxie

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Re: Overheard at Work
« Reply #13 on: November 19, 2012, 01:37:03 PM »
At least some of my co-workers are with it.  I know several who have retired and then come back to work part time because "nobody can push them around now that they're retired."

I Love Cake

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Re: Overheard at Work
« Reply #14 on: November 19, 2012, 02:45:45 PM »
I once knew a co-worker who asked that his pay cheques not be direct deposited because his bank account was being garnished. So he would take his work pay cheque to one of those 'payday' lending places and pay the 10%-ack!

He also was always BROKE but the day after pay day he'd come in with $50 books he picked up at Chapters! And he'd always do takeout

I have a story similar to sisca's. When I was in my 20s I had a co-worker who had just turned 50. She HATED working at our company. Was constantly grumbling about all the unfairness of it all and how it was so beneath her (she had been laid off from a lucrative career before joining us)

She was just so MISERABLE.

It was then I decided that when I turned 50 I would not be stuck in a job I despised just because I HAD to work and make X amount.

So I opened up an RRSP and begin living below my means.

I'm 46 now. And when I turn 50 I won't HAVE to work at a place I hate (I can be choosy) and that miserable woman is partially responsible for that!

noob515

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Re: Overheard at Work
« Reply #15 on: November 20, 2012, 08:50:29 AM »
Today it was, "Well the commutes gonna be a lot longer, but it was only $100 more per month for a 3 bedroom"

Huh?  So it costs MORE to live father away where you are?  It's normally the opposite, at least it is here near Washington DC. 

And one of my coworkers is a never ending fountain of bad financial decisions, including how he doesn't put $ into his TSP (not even enough for the match).  But a big money foul happened the other day, when he was complaining about his Capital One credit card.  Apparently he had made an online payment, and expected it to immediately be reflected in his available balance.  5 minutes later, he got an email from some website saying his purchase could not be completed due to insufficient funds.  So basically he had made a credit card payment JUST so he could then max out his card again!!

Angelfishtitan

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Re: Overheard at Work
« Reply #16 on: November 20, 2012, 09:06:56 AM »
In general people in my field are decent with money (engineering, so atleast they are good at math), but many of them fall into the same holes that everyone else does. Most of them have huge homes for two or three person families (because what would you do without a study/den/pantry?!?) and are gadget addicts. One of my friends got a bonus and was ready to spend it on an iPad. I asked him what he was going to use it for and he didn't even know.

Even before when I was a low experience contractor lots of people around me were living paycheck to paycheck, while we were all making almost as much as the household median income on our own (most people made between $40-50K/year). How does that even happen when clearly more than half of the population below you make less than you? Obviously they figured out how to live on less.

Forcus

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Re: Overheard at Work
« Reply #17 on: November 20, 2012, 11:23:40 AM »
I think this is a really interesting topic because if you don't know anything more than basic finance as taught in schools, you will probably look to those around you to for guidance on how you "should" be living. And you spend a lot of time with co-workers so seeing how they live sets the bar (if you don't know any better). For instance, there are roughly 5,000 employees at my building. Walking through the parking lot, I'd wager that 80% of vehicles are less than 5 years old. Of those 80%, I'd estimate MSRP on 70% of them to be somewhere north of $30k, and there are a lot of expensive trucks and SUV's as well. I would say less than 1% of vehicles are truly "beaters" (over 10 years old, not in very good to excellent shape, etc.). When I am pi$$ed at my car for whatever reason I'll think "hey, all these people have newer BMW's, etc., why can't I?". That feeling goes away pretty quickly but for the average not-financially-savvy person, they buy in to it, and think that it's ok (which, it is, if you are financially stable, understand your long term goals, understand the trade-off's - which most people don't).

Jack

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Re: Overheard at Work
« Reply #18 on: November 20, 2012, 11:34:46 AM »
Today it was, "Well the commutes gonna be a lot longer, but it was only $100 more per month for a 3 bedroom"

Huh?  So it costs MORE to live father away where you are?  It's normally the opposite, at least it is here near Washington DC.

It sounds to me like that person was upgrading on space (hence the mention of "3 bedroom"). Who knows; maybe he had male and female kids and really needed 3 bedrooms, making the downgrade in location worth it.

spider1204

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Re: Overheard at Work
« Reply #19 on: November 20, 2012, 11:49:35 AM »
Quote
Quote
Quote
Today it was, "Well the commutes gonna be a lot longer, but it was only $100 more per month for a 3 bedroom
Huh?  So it costs MORE to live father away where you are?  It's normally the opposite, at least it is here near Washington DC.
It sounds to me like that person was upgrading on space (hence the mention of "3 bedroom"). Who knows; maybe he had male and female kids and really needed 3 bedrooms, making the downgrade in location worth it.

Ya, my job is located in north part of the city which also happens to be cheapest most run down section.  The further away you get the more expensive the area typically gets.

In regards to the person in question, he has joint custody of his son, although potentially a move in girlfriend.

Jack

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Re: Overheard at Work
« Reply #20 on: November 20, 2012, 12:07:26 PM »
Ya, my job is located in north part of the city which also happens to be cheapest most run down section.  The further away you get the more expensive the area typically gets.

In regards to the person in question, he has joint custody of his son, although potentially a move in girlfriend.

So much for my giving him the benefit of the doubt...

starbuck

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Re: Overheard at Work
« Reply #21 on: November 20, 2012, 01:44:20 PM »
I think this is a really interesting topic because if you don't know anything more than basic finance as taught in schools, you will probably look to those around you to for guidance on how you "should" be living.

I'm really happy I work in a non-flashy office/job. I didn't know much about personal finance once I graduated college, and it probably was a big boon for me to not feel like I had to 'keep up' with my coworkers. Everyone in my office takes public transit to work, shops at Sears, brings lunch, wears sensible shoes etc. There's the occassional Brooks Brothers/Talbots suit but that's as showy as it gets, despite being in downtown Boston.

When I first started my career at the ripe old age of 21, I didn't know what to do with all those forms they give you for health ins, life ins, retirement. One of my colleagues who was a few years from retirement said that I should at least put in 5% to get the match. So I did and moved on. Once I started figuring out how to be a financially savvy adult, I started maxxing out my retirement accounts. But already having that account made saving more SO MUCH EASIER since I didn't have to fight inertia. I just had to type in a new % number in my online account. Piece of cake. So thanks Bob, much appreciated!
« Last Edit: November 20, 2012, 01:45:59 PM by rachelshana »

MooreBonds

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Re: Overheard at Work
« Reply #22 on: November 22, 2012, 12:12:35 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.


It is hopeful to think that....but remember that in the 30s, millions of families were still 'new' immigrants from other countries that had been here but a few years. As such, they hadn't accumulated much in terms of assets or luxuries (what few luxuries there were) when the recession hit, which forced them to some of the extremes that later shaped many people now in their 70s/80s/90s.

Contrast that with the overflowing average households of 2000, with the excesses that many people have. They consider most of that luxury as 'bare necessities', and (I fear) will only see their parents and relatives working into their 70s as a simple unavoidable fact of life, because "everyone has to, since no one can save any money"...as opposed to an impetus for living a very modest lifestyle and reaching financial independence before they have to take their IRA RMD.

Honest Abe

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Re: Overheard at Work
« Reply #23 on: November 23, 2012, 11:36:30 AM »
My coworker, who makes $90k/year and told me lives paycheck to paycheck, AND who pays $1800/mo to live in a  luxury 1 BR , AND puts only $100/month into his 401k... <drum roll please>.

....Took a $3500 FEMA payout after hurricane sandy and put it down on a 3 yr lease of an SUV. ($500/mo)

« Last Edit: November 23, 2012, 11:38:35 AM by Honest Abe »

prosaic

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Re: Overheard at Work
« Reply #24 on: November 23, 2012, 12:26:11 PM »
A coworker in their 70s with a $2300/month mortgage (that's after a recent refi) and a $250K balance. Been in the house for 3-4 decades. Spends lavishly in other areas of life. Coworker still works full-time. Gee, I wonder why?

michael

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Re: Overheard at Work
« Reply #25 on: November 29, 2012, 01:32:03 PM »
Oh my goodness... these are so ridiculous.

I have one from today at lunch, too. This lady in her 30s is thinking about buying her two kids (11 and 13) a couple of brand new iPhone 5s - "because they want it." She claims it's okay because it's just $600 and because she and her husband waste so much in all the other areas of their life, it's okay for the kids to be put on the same path. I pointed out that she wasn't thinking of the extra $700+/year for the plans to go along with the phones, but she just brushed it off because the husband can apparently cut back in so many other areas to make up the difference.

Then she pointed out that one of the kid's friends gets $1000+ designer dresses for dances and this lady feels bad for her daughter because she buys $35 sale clothes and hasn't given her an iPhone yet.

I feel so bad for these kids. They're never going to know what hit 'em because it's been this household cultural voice yelling into their ears that it's okay, it's okay because of this and that reason!

mlipps

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Re: Overheard at Work
« Reply #26 on: November 29, 2012, 03:01:13 PM »
My coworker, who makes $90k/year and told me lives paycheck to paycheck, AND who pays $1800/mo to live in a  luxury 1 BR , AND puts only $100/month into his 401k... <drum roll please>.

....Took a $3500 FEMA payout after hurricane sandy and put it down on a 3 yr lease of an SUV. ($500/mo)

What particularly impressive to me about this one is that we were making that, more or less, and spending $1500/month on rent in DC, and I can't possibly figure how that person could be living paycheck to paycheck with that housing expense.

Honestly, that's what I can't figure out in most of these cases. I feel like I say no to very little for myself and we pay down over $1000/month in debt and save another $1000. What on earth do these people do with their money??

kt

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Re: Overheard at Work
« Reply #27 on: November 30, 2012, 02:48:42 AM »
mlipps - i agree. sometimes i don't understand either but i think it's basically the opposite of the savings-snowball. so saving a little adds up, similarly spending just a little more every day/week/month/year (coffee/food/going out/holidays for example) really adds up.
and when i go out shopping with one of my spendy friends it starts to make sense! ipad because they'd had a bad month. expensive handbag to use as an overnight bag when going out after work. new clothing every week almost. meals out at the drop of a hat. taxis (anyone who's visited me will tell you i walk them to death!) and i'm sure they're low-end spendy!

The Bearded Bank Builder

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Re: Overheard at Work
« Reply #28 on: November 30, 2012, 12:43:30 PM »
I heard my coworker say that her gas/electric bill last month was $900! We live in California, and the temperature hasn't gotten below 40!! Then she said she is trying to be better and set the thermostat to "only" 68 degrees!

strider3700

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Re: Overheard at Work
« Reply #29 on: November 30, 2012, 03:33:06 PM »
holy crap  that's more then I pay in a year.  Does she have a grow op in her basement or something?

The Bearded Bank Builder

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Re: Overheard at Work
« Reply #30 on: November 30, 2012, 04:13:45 PM »
holy crap  that's more then I pay in a year.  Does she have a grow op in her basement or something?

Haha I'm starting to suspect it now

steggy81

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Re: Overheard at Work
« Reply #31 on: December 03, 2012, 08:15:08 AM »
"Retiring at 62 is suicide."  Comment by my 65 year old coworker last week. 

Yes, she thinks I'm crazy; I think she's crazy.  ; )

cbr shadow

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Re: Overheard at Work
« Reply #32 on: December 03, 2012, 03:31:05 PM »
I've got one that I think takes the cake..
I work with a woman who is 31 yrs old and is an engineer like me, so she makes very similar to my $50k.  She commutes 50 miles to a town-house an hour and a half from work.  She complains at least once a week about her financial situation and for YEARS now I've really been feeling bad for her.. Her husband has made $34,000/yr for the last 5 years, they can't afford to move, she desperately wants kids but there's no way for her and her husband to afford kids.  She 'needs' a new car but can't afford one, and they want to move into a single family home.  They had (2) car payments, big mortgage on the town home, etc.
After genuinely feeling sorry for her situation (that she put herself in with her crazy commute, among other things), I found out she inherited $80,000 with the death of her grandmother.  This could be LIFE CHANGING for her since they could pay off some debt (credit card AND both vehicles AND have plenty to invest still).......
Then 2 months later I found out what the actually did with the money.. They used it to put a driveway and 'entrance gate' on a very high-end fishing cabin for her husband.  This cabin wasn't even built yet - they used that $80,000 to continue a process that her father in law has been working on for almost 10 years building this cabin.   I said "oh did you decide not to start a family?" which was probably aggressive but she complained for over 5 years about debt and then she was given the golden ticket and squandered it.  Her response was "Well Nick (her husband) and his dad REALLY like fishing...".  Hmm..
Needless to say, this was 5 years ago and the cabin has not progressed after that $80,000 and she's back to complaining about debt and dreams that could have been.

chucklesmcgee

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Re: Overheard at Work
« Reply #33 on: December 03, 2012, 05:05:19 PM »
I've got one that I think takes the cake..
I work with a woman who is 31 yrs old and is an engineer like me, so she makes very similar to my $50k.  She commutes 50 miles to a town-house an hour and a half from work.  She complains at least once a week about her financial situation and for YEARS now I've really been feeling bad for her.. Her husband has made $34,000/yr for the last 5 years, they can't afford to move, she desperately wants kids but there's no way for her and her husband to afford kids.  She 'needs' a new car but can't afford one, and they want to move into a single family home.  They had (2) car payments, big mortgage on the town home, etc.
After genuinely feeling sorry for her situation (that she put herself in with her crazy commute, among other things), I found out she inherited $80,000 with the death of her grandmother.  This could be LIFE CHANGING for her since they could pay off some debt (credit card AND both vehicles AND have plenty to invest still).......
Then 2 months later I found out what the actually did with the money.. They used it to put a driveway and 'entrance gate' on a very high-end fishing cabin for her husband.  This cabin wasn't even built yet - they used that $80,000 to continue a process that her father in law has been working on for almost 10 years building this cabin.   I said "oh did you decide not to start a family?" which was probably aggressive but she complained for over 5 years about debt and then she was given the golden ticket and squandered it.  Her response was "Well Nick (her husband) and his dad REALLY like fishing...".  Hmm..
Needless to say, this was 5 years ago and the cabin has not progressed after that $80,000 and she's back to complaining about debt and dreams that could have been.

that's just sad.

grantmeaname

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Re: Overheard at Work
« Reply #34 on: December 03, 2012, 06:27:38 PM »
Right. It's actually, legitimately sad.

So much human potential is lost to financial illiteracy...

strider3700

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Re: Overheard at Work
« Reply #35 on: December 03, 2012, 11:28:46 PM »
That is fine.  I don't expect everyone to meet their fullest potential so long as they are happy.  I can't help but think that one side of that relationship is throwing away their dreams just to make the other one happy and it's not even close to a fair trade.

Forcus

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Re: Overheard at Work
« Reply #36 on: December 04, 2012, 09:30:57 AM »
They'd probably have a depressed, entitlement-mentality kid so maybe it's a good thing.

mustachecat

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Re: Overheard at Work
« Reply #37 on: December 04, 2012, 10:41:22 AM »
I don't hear a lot of depressing things, but I see a ton. I know how much every single person in my office makes, so I do a lot of private sighing when I see so-and-so, who I know does not have a wealthy family bankrolling him or her, get yet another box from J. Crew/REI/Gilt/Zappos/Anthropologie/etc., or another $15 delivery from Fancy Italian Place or Fancy Sushi Place.

My boss is an inspiration, though. He made his money long ago and works because he wants to be useful. He's not MMM-level, but he's very modest and low-key for someone as wealthy as he is.

The Bearded Bank Builder

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Re: Overheard at Work
« Reply #38 on: December 04, 2012, 01:00:43 PM »
I don't hear a lot of depressing things, but I see a ton. I know how much every single person in my office makes, so I do a lot of private sighing when I see so-and-so, who I know does not have a wealthy family bankrolling him or her, get yet another box from J. Crew/REI/Gilt/Zappos/Anthropologie/etc., or another $15 delivery from Fancy Italian Place or Fancy Sushi Place.

My boss is an inspiration, though. He made his money long ago and works because he wants to be useful. He's not MMM-level, but he's very modest and low-key for someone as wealthy as he is.

Are you an accountant/HR? I'm an accountant so I can see everyone's salaries too. You're not allowed to talk about it but that doesn't mean you don't think about it :)

mustachecat

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Re: Overheard at Work
« Reply #39 on: December 04, 2012, 03:30:11 PM »
Are you an accountant/HR? I'm an accountant so I can see everyone's salaries too. You're not allowed to talk about it but that doesn't mean you don't think about it :)

Yep, I'm newly in Finance. I do so much silent judging all day.

Khao

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Re: Overheard at Work
« Reply #40 on: December 05, 2012, 08:43:57 PM »
Today's gem at work : a collegue was talking about his super nice trip to Las Vegas.
A : "Did you play at a casino?"
B : "Only lost about 1k"
A : "It's not that bad, what game?"
B : "Slots"

My reaction in my mind :

SwordGuy

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Re: Overheard at Work
« Reply #41 on: December 05, 2012, 10:10:52 PM »
A coworker in their 70s with a $2300/month mortgage (that's after a recent refi) and a $250K balance. Been in the house for 3-4 decades. Spends lavishly in other areas of life. Coworker still works full-time. Gee, I wonder why?
Who would be dumb enough to loan someone money like that?
If they haven't paid it off in 30 to 40 years, why would they think it would be paid off in the next 5 to 10?
I don't understand it!

grantmeaname

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Re: Overheard at Work
« Reply #42 on: December 05, 2012, 10:12:41 PM »
The mortgageholder is one of the first in line for the assets of the estate, though, and if that's not enough there's always the house. It's not like giving an 80-year-old a student loan.

Self-employed-swami

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Re: Overheard at Work
« Reply #43 on: December 06, 2012, 05:38:39 AM »
Not to mention the interest the mortgage company is getting from that...
A small business-owning SWAMI working herself towards FI.

Sparky

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Re: Overheard at Work
« Reply #44 on: December 08, 2012, 12:20:52 PM »
2010 :Overhearing one of the boys at work saying that they have a hard time living on such small wages in such an expensive province (Alberta). He couldn't make his child support payment this month because of a drunk driving charge he received awhile back and how is current GF totalled his car and was charged with no insurance and no drivers licence... A few weeks later his GF bought him $2000 bucks in coke to help him relax for his birthday.

2011: Another guy, who while not too horrible with his money (only has a 60K loan on an used Audi, living with mom & dad, no savings), also needed to somehow save up 10k to pay for his lawyer to fight his DUI charge. He really needs to drive; how else will you go out and spend 2k a night partying if you can't drive there?

Both were fired for being idiots at later dates .....

aces2

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Re: Overheard at Work
« Reply #45 on: December 09, 2012, 02:19:46 AM »
I've got one that I think takes the cake..
I work with a woman who is 31 yrs old and is an engineer like me, so she makes very similar to my $50k.  She commutes 50 miles to a town-house an hour and a half from work.  She complains at least once a week about her financial situation and for YEARS now I've really been feeling bad for her.. Her husband has made $34,000/yr for the last 5 years, they can't afford to move, she desperately wants kids but there's no way for her and her husband to afford kids.  She 'needs' a new car but can't afford one, and they want to move into a single family home.  They had (2) car payments, big mortgage on the town home, etc.
After genuinely feeling sorry for her situation (that she put herself in with her crazy commute, among other things), I found out she inherited $80,000 with the death of her grandmother.  This could be LIFE CHANGING for her since they could pay off some debt (credit card AND both vehicles AND have plenty to invest still).......
Then 2 months later I found out what the actually did with the money.. They used it to put a driveway and 'entrance gate' on a very high-end fishing cabin for her husband.  This cabin wasn't even built yet - they used that $80,000 to continue a process that her father in law has been working on for almost 10 years building this cabin.   I said "oh did you decide not to start a family?" which was probably aggressive but she complained for over 5 years about debt and then she was given the golden ticket and squandered it.  Her response was "Well Nick (her husband) and his dad REALLY like fishing...".  Hmm..
Needless to say, this was 5 years ago and the cabin has not progressed after that $80,000 and she's back to complaining about debt and dreams that could have been.

that's just sad.

Agreed!

happy

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Re: Overheard at Work
« Reply #46 on: December 09, 2012, 03:23:23 AM »
I got 3 invitations for work Xmas parties, all >$100 a head, the most expensive one $160 a head.  Included are staff who make under 40K a year. Holy guacamole!
Guess who's being a party pooper? Man, I'm saving like nearly $500 by not going.

Honest Abe

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Re: Overheard at Work
« Reply #47 on: December 09, 2012, 03:59:27 AM »
Also, I had a coworker openly admit that he spends $800/month on weed. (And by the way lives paycheck to paycheck)

SwordGuy

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Re: Overheard at Work
« Reply #48 on: December 09, 2012, 09:36:03 AM »
I got 3 invitations for work Xmas parties, all >$100 a head, the most expensive one $160 a head.  Included are staff who make under 40K a year. Holy guacamole!
Guess who's being a party pooper? Man, I'm saving like nearly $500 by not going.

Why do managers think employees want to spend that kind of money to eat badly prepared food with people they usually have nothing in common with other than work?   

gooki

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Re: Overheard at Work
« Reply #49 on: December 09, 2012, 12:08:03 PM »
I got 3 invitations for work Xmas parties, all >$100 a head, the most expensive one $160 a head.  Included are staff who make under 40K a year. Holy guacamole!
Guess who's being a party pooper? Man, I'm saving like nearly $500 by not going.

WTF it's the social norm for workers to pay to attend a Christmas party?