Author Topic: Overheard on Facebook  (Read 1772921 times)

nobodyspecial

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Re: Overheard on Facebook
« Reply #3900 on: February 05, 2016, 08:45:50 AM »
But at least he has a stable well paid job in the Albertan oildfields

Making Cookies

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Re: Overheard on Facebook
« Reply #3901 on: February 05, 2016, 08:46:10 AM »
And oil is $30 a barrel and taking it's toll on the oil industry which is consequently downsizing here and there - yet these two are spending freely and taking on multi-year debt that is unnecessary. Seems like a good idea to me... -eye roller-

:)
« Last Edit: February 05, 2016, 08:48:04 AM by Jethrosnose »

The Guru

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Re: Overheard on Facebook
« Reply #3902 on: February 05, 2016, 08:50:06 AM »
You both beat me to it.

nobodyspecial

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Re: Overheard on Facebook
« Reply #3903 on: February 05, 2016, 08:53:17 AM »
And oil is $30 a barrel and taking
Brent Crude or WTI might be $30, but Albertan bitumen isn't - even assuming you could get it to a refinery.

candygirl

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Re: Overheard on Facebook
« Reply #3904 on: February 05, 2016, 08:55:18 AM »
And I forgot to add that they are thinking of buying the house they currently rent in an expensive resort town, but they of course have no money saved for a down payment and are discussing rent to own options with the current owner. A 4 bedroom house for basically just her and the dogs (because the husband and son are working away 2 weeks at a time). I told her to at least make sure she gets an appraisal done with the down turn in the housing prices and negotiate, don't just settle for whatever owner states is the price.

And the best: the cherokee fits in the garage, which the truck never did. So now she has to shovel the driveway. Sigh.

nnls

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Re: Overheard on Facebook
« Reply #3905 on: February 05, 2016, 03:38:54 PM »
Just saw this on fb. She is saying she spends about $2880 a year on blow drying her hair.

And then the comments are full of people saying "you worked hard for it, you deserve it" "you should spend the money while oyu have it as in the future you might not be earning as much" or people tallying up the amounts they spend which is equal or more.

no one has suggested she should maybe be saving money or even looking for a cheaper place to go!

And a few people have commented that they spend a lot less and couldn't justify spending that much and then get told off for "shaming" her about her money.

She also mentions owing a lot in medical fees.



She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

Dollar Slice

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Re: Overheard on Facebook
« Reply #3906 on: February 05, 2016, 08:46:28 PM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.
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nnls

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Re: Overheard on Facebook
« Reply #3907 on: February 05, 2016, 10:10:30 PM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.

yes most likely.

horsepoor

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Re: Overheard on Facebook
« Reply #3908 on: February 05, 2016, 10:53:34 PM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.

I know someone who did that, only with retirement expenses (compared monthly need vs 24 paychecks instead of  26).  Oops.

Goldielocks

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Re: Overheard on Facebook
« Reply #3909 on: February 06, 2016, 12:57:44 AM »
And oil is $30 a barrel and taking
Brent Crude or WTI might be $30, but Albertan bitumen isn't - even assuming you could get it to a refinery.
'I remember in 2004 a C-Suite exec at Suncor was telling a small group of us that "as long as oil breaks $40 a barrel, we will make money".  It had only broken that point for a short while when he said it.

Since then, though, with the high price, I a certain that they have invested in expansion and some more expensive, but much cleaner, extraction methods....

frugalnacho

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Re: Overheard on Facebook
« Reply #3910 on: February 06, 2016, 01:23:33 PM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.

Ah that makes sense.  Apparently ok at arithmetic, but bad at thinking things through logically.  I suppose that is self evident from her facebook post though.

Apples

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Re: Overheard on Facebook
« Reply #3911 on: February 07, 2016, 09:57:12 AM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.

Ah that makes sense.  Apparently ok at arithmetic, but bad at thinking things through logically.  I suppose that is self evident from her facebook post though.

I would bet my "extra" January paycheck that she's one of those people who's always SO SURPRISED by a 5th paycheck (or third) in a month and blows it on random things instead of using it to make her financial position stronger.

englyn

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Re: Overheard on Facebook
« Reply #3912 on: February 07, 2016, 11:59:44 PM »
I saw this on Facebook and couldn't resist FTFY (Fixed That For You)


nnls

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Re: Overheard on Facebook
« Reply #3913 on: February 08, 2016, 12:15:37 AM »
She refuses to go a week without blow dry, @$60/ea, thats $60x52 = $3,120.  How does she come up with $2880? Does she skip 4 weeks a year (despite claiming she refuses to skip a week), or is she just bad at math?

I am going to guess bad at math

I bet she calculated it as four times a month instead of once a week. $60 x 4 times a month x 12 times a year = $2880.

Ah that makes sense.  Apparently ok at arithmetic, but bad at thinking things through logically.  I suppose that is self evident from her facebook post though.

I would bet my "extra" January paycheck that she's one of those people who's always SO SURPRISED by a 5th paycheck (or third) in a month and blows it on random things instead of using it to make her financial position stronger.

I feel like in Australia are paid fortnightly anyway, so this extra paycheck thing doesnt seem to register for most people anyway unfortunately.

NoraLenderbee

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Re: Overheard on Facebook
« Reply #3914 on: February 16, 2016, 04:29:56 PM »
And I forgot to add that they are thinking of buying the house they currently rent in an expensive resort town, but they of course have no money saved for a down payment and are discussing rent to own options with the current owner. A 4 bedroom house for basically just her and the dogs (because the husband and son are working away 2 weeks at a time). I told her to at least make sure she gets an appraisal done with the down turn in the housing prices and negotiate, don't just settle for whatever owner states is the price.

And the best: the cherokee fits in the garage, which the truck never did. So now she has to shovel the driveway. Sigh.

So she'll be buying a brand-new riding snowblower soon?

AlanStache

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Re: Overheard on Facebook
« Reply #3915 on: February 16, 2016, 04:55:38 PM »
And I forgot to add that they are thinking of buying the house they currently rent in an expensive resort town, but they of course have no money saved for a down payment and are discussing rent to own options with the current owner. A 4 bedroom house for basically just her and the dogs (because the husband and son are working away 2 weeks at a time). I told her to at least make sure she gets an appraisal done with the down turn in the housing prices and negotiate, don't just settle for whatever owner states is the price.

And the best: the cherokee fits in the garage, which the truck never did. So now she has to shovel the driveway. Sigh.

So she'll be buying a brand-new riding snowblower soon?

So a bunch of us probably just had to go and see if riding snowblowers were a thing :-)
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ShoulderThingThatGoesUp

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Re: Overheard on Facebook
« Reply #3916 on: February 18, 2016, 04:38:39 AM »
And I forgot to add that they are thinking of buying the house they currently rent in an expensive resort town, but they of course have no money saved for a down payment and are discussing rent to own options with the current owner. A 4 bedroom house for basically just her and the dogs (because the husband and son are working away 2 weeks at a time). I told her to at least make sure she gets an appraisal done with the down turn in the housing prices and negotiate, don't just settle for whatever owner states is the price.

And the best: the cherokee fits in the garage, which the truck never did. So now she has to shovel the driveway. Sigh.

So she'll be buying a brand-new riding snowblower soon?

So a bunch of us probably just had to go and see if riding snowblowers were a thing :-)

I would have to google it in Incognito mode because I would feel too much shame.

iowajes

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Re: Overheard on Facebook
« Reply #3917 on: February 19, 2016, 04:09:08 PM »
I thought we had an antimustachian "around the web" thread, but I can't find it, so I'll post it here.

This was a survey question I got today.

"I consciously limit my spend on groceries so I can eat out in restaurants more"


It made me sad. I mean, it's good that they are evening out the budget and all, but if you have to reduce groceries to eat out... you're not getting 1:1 here, so you're missing something in the nutrition department.

Dollar Slice

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Re: Overheard on Facebook
« Reply #3918 on: February 20, 2016, 05:06:10 PM »
Friend of mine posted today that he is working at the Barclay Center ... he posted a pic which shows carnival rides, multiple stages for live music, etc. He mentioned one of the bands and the last time they were in town they played Madison Square Garden.

The occasion? A bar mitzvah.
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nnls

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Re: Overheard on Facebook
« Reply #3919 on: February 20, 2016, 05:19:29 PM »
Friend of mine posted today that he is working at the Barclay Center ... he posted a pic which shows carnival rides, multiple stages for live music, etc. He mentioned one of the bands and the last time they were in town they played Madison Square Garden.

The occasion? A bar mitzvah.

Thats crazy!

cats

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Re: Overheard on Facebook
« Reply #3920 on: February 21, 2016, 02:00:25 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million. 

johnny847

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Re: Overheard on Facebook
« Reply #3921 on: February 21, 2016, 02:33:25 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?

onlykelsey

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Re: Overheard on Facebook
« Reply #3922 on: February 21, 2016, 02:48:49 PM »
In my six-figure job there are definitely married couples earning 300K and spending it all.  COL is high in Manhattan, but not that high.

nobodyspecial

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Re: Overheard on Facebook
« Reply #3923 on: February 21, 2016, 04:58:16 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

johnny847

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Re: Overheard on Facebook
« Reply #3924 on: February 21, 2016, 05:14:57 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

Hmm should I be asking if you understand the 4% rule?

nobodyspecial

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Re: Overheard on Facebook
« Reply #3925 on: February 21, 2016, 06:38:16 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

Hmm should I be asking if you understand the 4% rule?
It was either; you save up a lot of money and the bank charges you 4% fee every year to look after it, or you need to save a LOT of money because you only get to keep 4% of it - I fell asleep in the financial adviser's seminar

johnny847

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Re: Overheard on Facebook
« Reply #3926 on: February 21, 2016, 08:47:03 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

Hmm should I be asking if you understand the 4% rule?
It was either; you save up a lot of money and the bank charges you 4% fee every year to look after it, or you need to save a LOT of money because you only get to keep 4% of it - I fell asleep in the financial adviser's seminar

I don't know whether to think this is trolling or genuine. Because I can't imagine anybody in their right mind accepting a whopping FOUR PERCENT annual fee. That's ridiculous.
I also don't see how you could end up only being able to keep 4% of your money. Please do tell where the other 96% of your money is going. Because I want to be the guy receiving that 96%.

But anyway, in case this is in fact genuine...

I am surprised that a someone who is interested in FIRE and has almost 1000 posts on this forum is unaware of what the 4% rule actually is.

Here's the study: https://www.aaii.com/journal/article/retirement-savings-choosing-a-withdrawal-rate-that-is-sustainable

dragoncar

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Re: Overheard on Facebook
« Reply #3927 on: February 21, 2016, 08:51:31 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

Hmm should I be asking if you understand the 4% rule?
It was either; you save up a lot of money and the bank charges you 4% fee every year to look after it, or you need to save a LOT of money because you only get to keep 4% of it - I fell asleep in the financial adviser's seminar

What are you on right now, and can I get some?

cats

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Re: Overheard on Facebook
« Reply #3928 on: February 21, 2016, 09:40:02 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?

I really have no idea--she's a fairly distant friend at this point, I haven't seen her in 5+ years, so I didn't really feel FB was the appropriate forum to start discussing early retirement strategies (especially as the friend whose wall the thread occurred on has six figure student loan debt and therefore and entirely different set of financial concerns).  Given her profession and the area she lives in, I would be surprised if she and her husband currently make $300k/yr, though I could certainly believe they are approaching or exceeding $200k.  From what I do remember of the days when we were closer, my guess is that she is using something much more conservative than the 4% rule and aiming for a higher level of spending than most MMM types. But really, unless she is earning multiple times what I think she probably is, I guess I'm not really seeing how she's going to GET to 7.5 million within any sort of early retirement time frame.  Maybe she's assuming everyone else will be working until 80 and that she'll be retiring young if she can get out before 70...

coolistdude

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Re: Overheard on Facebook
« Reply #3929 on: February 21, 2016, 11:06:07 PM »
And I forgot to add that they are thinking of buying the house they currently rent in an expensive resort town, but they of course have no money saved for a down payment and are discussing rent to own options with the current owner. A 4 bedroom house for basically just her and the dogs (because the husband and son are working away 2 weeks at a time). I told her to at least make sure she gets an appraisal done with the down turn in the housing prices and negotiate, don't just settle for whatever owner states is the price.

And the best: the cherokee fits in the garage, which the truck never did. So now she has to shovel the driveway. Sigh.

This sadness reminds me of an advertisement I saw on Facebook saying that your tax refund could be big enough to be a downpayment. I live in CA...condos aren't even under $100k here. Of course they have a picture of a large two story house, so $300-500k around where I live.
The good: 27 years old, 1 car, not renting anymore.
The bad: Single income, only about $17k in retirement, and no FI date.
The ugly: 1 year ago I was doing much better but lost all possessions due to mold. It has been an emotional roller coaster.

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Pooperman

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Re: Overheard on Facebook
« Reply #3930 on: February 22, 2016, 06:43:37 AM »
This one from one of my wife's cousins. This person recently bought a new car. Then a week later, their dog needed emergency surgery for something. Either way, it was going to be like $2500. They started a go-fund-me. How do you not have $2500? Why did you spend it on a car? WHAT THE FUCK?!

HairyUpperLip

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Re: Overheard on Facebook
« Reply #3931 on: February 22, 2016, 07:37:01 AM »
I am surprised that a someone who is interested in FIRE and has almost 1000 posts on this forum is unaware of what the 4% rule actually is.

man, that's the exact same thing I thought when I read the person's comment. First thing I did was look at the post count. hahaha

nobodyspecial

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Re: Overheard on Facebook
« Reply #3932 on: February 22, 2016, 11:59:16 AM »
I am surprised that a someone who is interested in FIRE and has almost 1000 posts on this forum is unaware of what the 4% rule actually is.
My apologies, I'm British we share a language but obviously not irony

AlanStache

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Re: Overheard on Facebook
« Reply #3933 on: February 22, 2016, 12:29:20 PM »
I am surprised that a someone who is interested in FIRE and has almost 1000 posts on this forum is unaware of what the 4% rule actually is.
My apologies, I'm British we share a language but obviously not irony

I checked the post count then concluded it was irony or intended to be a joke. 
Be the person Mr. Rogers knows you can be.

MishMash

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Re: Overheard on Facebook
« Reply #3934 on: February 22, 2016, 12:36:59 PM »
A high school friend had a post on the 11th saying "OMG I just got paid, I didn't know we were getting paid EARLY this month, how awesome is that!?  The follow up comment from her this morning was "SHIT! I didn't know I had to wait FIVE extra days for this weeks pay, momma needs groceries now!!!"

The following comments pretty much pummeled her employer for not alerting her to this fact and that she needs to go speak to HR about this slip up on their behalf etc.   May I also point out that even if she went by the two week rule, payday wouldn't be until Thursday?

bernardnb

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Re: Overheard on Facebook
« Reply #3935 on: February 22, 2016, 02:16:47 PM »
Someone that used to work for me recently purchased a custom Mercedes. Posted the first picture with about 20 hash tags including but not limited to #fullyloaded #65k #workedhardforyou #blessed #workhardpartylater #moneyteam #independentwoman #ididitonmyown #dadwillbeproudofme #bossbitch

And the kicker and final one #ihopeicanpaythisoffinfiveyears

Haha, skimming through and read that one as "idiot on my own"....which I guess fits

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Re: Overheard on Facebook
« Reply #3936 on: February 22, 2016, 03:09:14 PM »
I am surprised that a someone who is interested in FIRE and has almost 1000 posts on this forum is unaware of what the 4% rule actually is.
My apologies, I'm British we share a language but obviously not irony
British, was in no way confused by your post.

Dollar Slice

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Re: Overheard on Facebook
« Reply #3937 on: February 22, 2016, 03:32:41 PM »
Friend of mine posted today that he is working at the Barclay Center ... he posted a pic which shows carnival rides, multiple stages for live music, etc. He mentioned one of the bands and the last time they were in town they played Madison Square Garden.

The occasion? A bar mitzvah.

I just saw on Facebook that Drake performed at a Bat Mitzvah on Saturday, and I clicked to see if that was the event my friend was working at. It was a different one. So there were TWO Bar/Bat Mitzvahs in the same city on the same day that presumably ran into seven figures. Good grief...
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KodeBlue

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Re: Overheard on Facebook
« Reply #3938 on: February 22, 2016, 04:45:16 PM »
Friend of mine posted today that he is working at the Barclay Center ... he posted a pic which shows carnival rides, multiple stages for live music, etc. He mentioned one of the bands and the last time they were in town they played Madison Square Garden.

The occasion? A bar mitzvah.

I just saw on Facebook that Drake performed at a Bat Mitzvah on Saturday, and I clicked to see if that was the event my friend was working at. It was a different one. So there were TWO Bar/Bat Mitzvahs in the same city on the same day that presumably ran into seven figures. Good grief...
Sounds like they were "all bar and no mitzvah".

ringer707

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Re: Overheard on Facebook
« Reply #3939 on: February 22, 2016, 05:44:02 PM »
Brand new to these forums here, been reading for a bit now but just decided to join in after a post I saw today! It seems my facebook friends have gone crazy with tax refund season. I've had an influx of posts lately. My favorite gem was "Can't wait to get my tax refund to go get my tattoo!" This from a woman who complains constantly about her ex not paying child support.

Also saw this gem today- "Cleaning out/getting rid of old clothes today! Thinking I'll be using that 0% interest credit card promo I got this morning for a wardrobe upgrade!" Yikes. I will give it to this girl she is generally more frugal than most people I know, and does a great deal of couponing for groceries/household goods. But I can't believe someone would just open a credit card like that. I receive credit card offers what seems like every day in the mail and always just threw them away. Call me young and naive, but I didn't know people would just open up new credit cards when they got these!

johnny847

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Re: Overheard on Facebook
« Reply #3940 on: February 22, 2016, 06:40:53 PM »
Brand new to these forums here, been reading for a bit now but just decided to join in after a post I saw today! It seems my facebook friends have gone crazy with tax refund season. I've had an influx of posts lately. My favorite gem was "Can't wait to get my tax refund to go get my tattoo!" This from a woman who complains constantly about her ex not paying child support.

Also saw this gem today- "Cleaning out/getting rid of old clothes today! Thinking I'll be using that 0% interest credit card promo I got this morning for a wardrobe upgrade!" Yikes. I will give it to this girl she is generally more frugal than most people I know, and does a great deal of couponing for groceries/household goods. But I can't believe someone would just open a credit card like that. I receive credit card offers what seems like every day in the mail and always just threw them away. Call me young and naive, but I didn't know people would just open up new credit cards when they got these!

Back when interest rates were higher people would open cc's with 0% intro APRs (and no fees for balance transfer checks) and stick the balance into a savings account.
I'm sure some people still do this, but with standard savings accounts at 1%, it's not worth the effort. Now if you put it in a rewards checking account, which can earn 4-5%, then it's a different story. The problem with those is that they're not scalable - they cap the balance that can earn the high rate of interest.

ender

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Re: Overheard on Facebook
« Reply #3941 on: February 22, 2016, 06:56:33 PM »
I think the morale of this story is that you guys should unfollow more people on Facebook ;-)

Goldielocks

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Re: Overheard on Facebook
« Reply #3942 on: February 22, 2016, 08:25:53 PM »
Friend commented in another friend's post that she was focused on saving $7.5 million so she could retire young.  I'm just boggled at the idea that she thinks she needs $7.5 million.

So she spends $300k a year? Or does she just not understand the 4% rule?
You mean it's 4% A YEAR ?

Hmm should I be asking if you understand the 4% rule?
It was either; you save up a lot of money and the bank charges you 4% fee every year to look after it, or you need to save a LOT of money because you only get to keep 4% of it - I fell asleep in the financial adviser's seminar

What are you on right now, and can I get some?

LOL!   :-)

coolistdude

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Re: Overheard on Facebook
« Reply #3943 on: February 22, 2016, 08:46:05 PM »
A high school friend had a post on the 11th saying "OMG I just got paid, I didn't know we were getting paid EARLY this month, how awesome is that!?  The follow up comment from her this morning was "SHIT! I didn't know I had to wait FIVE extra days for this weeks pay, momma needs groceries now!!!"

The following comments pretty much pummeled her employer for not alerting her to this fact and that she needs to go speak to HR about this slip up on their behalf etc.   May I also point out that even if she went by the two week rule, payday wouldn't be until Thursday?

Oh yes, your inability to budget is definitely your employer's fault. This lady is going to go far in life if she keeps blaming personal issues on her employer.

Facebook is where people try to sound smart or cool and often sound like neither. I'm one of those silent judging friends who quietly shares your posts on MMM.

The good: 27 years old, 1 car, not renting anymore.
The bad: Single income, only about $17k in retirement, and no FI date.
The ugly: 1 year ago I was doing much better but lost all possessions due to mold. It has been an emotional roller coaster.

Blog: http://bravelycontent.blogspot.com/

MgoSam

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Re: Overheard on Facebook
« Reply #3944 on: February 22, 2016, 08:51:52 PM »
A high school friend had a post on the 11th saying "OMG I just got paid, I didn't know we were getting paid EARLY this month, how awesome is that!?  The follow up comment from her this morning was "SHIT! I didn't know I had to wait FIVE extra days for this weeks pay, momma needs groceries now!!!"

The following comments pretty much pummeled her employer for not alerting her to this fact and that she needs to go speak to HR about this slip up on their behalf etc.   May I also point out that even if she went by the two week rule, payday wouldn't be until Thursday?

Oh yes, your inability to budget is definitely your employer's fault. This lady is going to go far in life if she keeps blaming personal issues on her employer.

Facebook is where people try to sound smart or cool and often sound like neither. I'm one of those silent judging friends who quietly shares your posts on MMM.

I think a smart employer would be wise to have employees that are terrible with money. I imagine it keeps them motivated to work hard and complain less, because they constantly need money. I've seen salesmen work their butts off because they need the money to pay off something.

coolistdude

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Re: Overheard on Facebook
« Reply #3945 on: February 22, 2016, 09:00:13 PM »
A high school friend had a post on the 11th saying "OMG I just got paid, I didn't know we were getting paid EARLY this month, how awesome is that!?  The follow up comment from her this morning was "SHIT! I didn't know I had to wait FIVE extra days for this weeks pay, momma needs groceries now!!!"

The following comments pretty much pummeled her employer for not alerting her to this fact and that she needs to go speak to HR about this slip up on their behalf etc.   May I also point out that even if she went by the two week rule, payday wouldn't be until Thursday?

Oh yes, your inability to budget is definitely your employer's fault. This lady is going to go far in life if she keeps blaming personal issues on her employer.

Facebook is where people try to sound smart or cool and often sound like neither. I'm one of those silent judging friends who quietly shares your posts on MMM.

I think a smart employer would be wise to have employees that are terrible with money. I imagine it keeps them motivated to work hard and complain less, because they constantly need money. I've seen salesmen work their butts off because they need the money to pay off something.

Said smart employer could have a reverse test proving the potential employee's inability to budget. Of course accounting employees would have their shit together...right? Right??
The good: 27 years old, 1 car, not renting anymore.
The bad: Single income, only about $17k in retirement, and no FI date.
The ugly: 1 year ago I was doing much better but lost all possessions due to mold. It has been an emotional roller coaster.

Blog: http://bravelycontent.blogspot.com/

runningthroughFIRE

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Re: Overheard on Facebook
« Reply #3946 on: February 23, 2016, 08:26:19 AM »
A high school friend had a post on the 11th saying "OMG I just got paid, I didn't know we were getting paid EARLY this month, how awesome is that!?  The follow up comment from her this morning was "SHIT! I didn't know I had to wait FIVE extra days for this weeks pay, momma needs groceries now!!!"

The following comments pretty much pummeled her employer for not alerting her to this fact and that she needs to go speak to HR about this slip up on their behalf etc.   May I also point out that even if she went by the two week rule, payday wouldn't be until Thursday?

Oh yes, your inability to budget is definitely your employer's fault. This lady is going to go far in life if she keeps blaming personal issues on her employer.

Facebook is where people try to sound smart or cool and often sound like neither. I'm one of those silent judging friends who quietly shares your posts on MMM.

I think a smart employer would be wise to have employees that are terrible with money. I imagine it keeps them motivated to work hard and complain less, because they constantly need money. I've seen salesmen work their butts off because they need the money to pay off something.

Said smart employer could have a reverse test proving the potential employee's inability to budget. Of course accounting employees would have their shit together...right? Right??
Some of us do, but most don't make the leap from applying what we do at work to our personal lives.  It's easy to track and control money when it isn't yours and you can't spend it on yourself.

On topic: A friend of mine told me this weekend "I'm getting almost as good at penny-pinching as you!" I didn't know what to say to that, because she kicks my ass on getting by with a low amount of money for her living expenses (rent, gas, etc.), but goes out to eat so much more than I do it's a wash.

zephyr911

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Re: Overheard on Facebook
« Reply #3947 on: February 23, 2016, 09:39:12 AM »
Back when interest rates were higher people would open cc's with 0% intro APRs (and no fees for balance transfer checks) and stick the balance into a savings account.
I'm sure some people still do this, but with standard savings accounts at 1%, it's not worth the effort. Now if you put it in a rewards checking account, which can earn 4-5%, then it's a different story. The problem with those is that they're not scalable - they cap the balance that can earn the high rate of interest.
The better comparison is stock market returns, real estate cap rates, etc.
This is why I'm still postponing the complete payoff of my consumer debt, FWIW. Most is at 0%, a little is at 2-4%, and I'm reliably pulling double digits on investments. Right before retiring I'll start putting those returns into a rapid payoff plan.
My partnership is putting half the DP for an upcoming buy on credit - some from a private loan at 6% and some on a 12% LOC. It's all paid out of rents in 5-6mos and the math still works out.


Said smart employer could have a reverse test proving the potential employee's inability to budget. Of course accounting employees would have their shit together...right? Right??

And doctors/nurses never smoke, drink, eat unhealthy foods, do drugs, have unprotected sex, or drive fast? ;)
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Kitsune

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Re: Overheard on Facebook
« Reply #3948 on: February 23, 2016, 12:06:00 PM »
Overheard on facebook:

Friend makes a post about the advantages of a space heater in the room he's in so that he can work from home and heat only his office instead of the entire house, which cut his electricity bill by 20% compared to the previous month. (Similar to my experience, and the reason we have a baseboard in the office).

Friend of his (NOT mine): posts a reply about how he's just cold and miserable and how that's such a cheap way to live and why would anyone do that.

... Um. Um. WHAT. The point of a space heater is that you can stay warm. Empty rooms, however, don't NEED to stay warm. Paying to heat empty rooms for 8 hours a day is folly.

Cookie78

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Re: Overheard on Facebook
« Reply #3949 on: February 23, 2016, 01:41:50 PM »
Overheard on facebook:

Friend makes a post about the advantages of a space heater in the room he's in so that he can work from home and heat only his office instead of the entire house, which cut his electricity bill by 20% compared to the previous month. (Similar to my experience, and the reason we have a baseboard in the office).

Friend of his (NOT mine): posts a reply about how he's just cold and miserable and how that's such a cheap way to live and why would anyone do that.

... Um. Um. WHAT. The point of a space heater is that you can stay warm. Empty rooms, however, don't NEED to stay warm. Paying to heat empty rooms for 8 hours a day is folly.

I had a tenant who would turn his space heater up a little extra because otherwise it didn't heat the entire basement suite enough. In JULY. I'd lived in that suite before and never needed a space heater at all. When I went to do some work there it was soooo hot, even after I took off as many clothes as was appropriate. He said he didn't want to have to wear a hoodie in his house. AND he would leave it on during the day while he was away so it was warm when he got home.

I was SOOOO thankful I wasn't paying his utilities. I tried to explain to him that the reason the space heater was inefficient at heating up the entire suite was because that's not what it's designed to do.