Author Topic: Mustachian People Problems (just for fun)  (Read 1462751 times)

Sibley

  • Magnum Stache
  • ******
  • Posts: 2761
  • Age: 32
  • Location: Chicago, IL
Re: Mustachian People Problems (just for fun)
« Reply #4800 on: February 24, 2018, 06:58:08 PM »
This is temporary, but very annoying. I live State A and work in State B. Due to respective tax laws, possibly my misunderstanding, how employers did tax withholdings, etc, I am getting a huge tax refund from State B and have to pay most of that to State A. Both state returns have been sent in. State A was e-filed, State B was dumb and couldn't figure it out so I had to mail it in.

The problem: I'm being stubborn and refusing to send the check to State A until I've gotten the refund from State B. But I'm also stubborn and wrote said check to State A (the envelope is in the desk, just waiting). So when I do my weekly banking and calculate current balance of my checking account, I have a massive outstanding check messing things up.

And I need to dig into the tax rules between the two states and fix my withholdings for 2018 so I don't have to do this next year, cause they're still messed up. I hate tax research.

rantk81

  • Bristles
  • ***
  • Posts: 262
  • Age: 36
  • Location: Chicago
Re: Mustachian People Problems (just for fun)
« Reply #4801 on: February 25, 2018, 05:43:34 AM »
My 401k custodian sent out a notice on behalf of my employer notifying me that my employer will no longer be subsidizing the record keeping, accounting, and maintenance fees for the plan.  They will soon start deducting $19 per quarter from each employee’s account to pay these costs.

This notice pissed me off last Friday, big time.

Dicey

  • Walrus Stache
  • *******
  • Posts: 7414
  • Age: 60
  • Location: NorCal
Re: Mustachian People Problems (just for fun)
« Reply #4802 on: February 25, 2018, 08:43:31 AM »
My MPP is the bank we have our mortgage with. We went with them for the low rate, but boy oh boy do they suck if you are paying the loan down faster.  First, they have no option to pay anything online other than your regular monthly payment.  Want to pay extra on the principal?  They tell you to do it by mail, using the hardcopy coupon.  Except that the first two times I did that, they screwed it up and put the extra payment toward future months' payments. It was a nightmare getting that fixed over the phone.  I decided after that that I would have to physically go to the bank each month if I had any extra payment to make. I started doing that, but the fun was only beginning. Turns out that apparently none of the tellers at this place had ever done (or could understand!?) an extra payment to principal.  They looked at me like I had two heads. Finally, after many months, I succeeded in training one of the tellers in what I wanted to do, but then she left. Back to square one. Now, after two months I have identified a teller who can do it, but only if I first make the regular payment, then pull the checkbook back out and say "And I'd like to make an extra payment to PRINCIPAL ONLY."  Somehow the separate check helps her get it.  The whole situation is weird and baffling.  I've done this before with other banks and there were no problems.
Here's an easier solution. Instead of prepaying the mortgage to the bank, prepay it to yourself. Invest it a la jlcollinsnh's Stock Series. Watch the money grow. Eventually, you will have enough to kill the whole mortgage in one payment. At that point, you may choose not to and keep the money in the market, but that will be a different MPP.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Trifele

  • Handlebar Stache
  • *****
  • Posts: 1071
  • Location: US
Re: Mustachian People Problems (just for fun)
« Reply #4803 on: February 25, 2018, 08:47:31 AM »
My MPP is the bank we have our mortgage with. We went with them for the low rate, but boy oh boy do they suck if you are paying the loan down faster.  First, they have no option to pay anything online other than your regular monthly payment.  Want to pay extra on the principal?  They tell you to do it by mail, using the hardcopy coupon.  Except that the first two times I did that, they screwed it up and put the extra payment toward future months' payments. It was a nightmare getting that fixed over the phone.  I decided after that that I would have to physically go to the bank each month if I had any extra payment to make. I started doing that, but the fun was only beginning. Turns out that apparently none of the tellers at this place had ever done (or could understand!?) an extra payment to principal.  They looked at me like I had two heads. Finally, after many months, I succeeded in training one of the tellers in what I wanted to do, but then she left. Back to square one. Now, after two months I have identified a teller who can do it, but only if I first make the regular payment, then pull the checkbook back out and say "And I'd like to make an extra payment to PRINCIPAL ONLY."  Somehow the separate check helps her get it.  The whole situation is weird and baffling.  I've done this before with other banks and there were no problems.
Here's an easier solution. Instead of prepaying the mortgage to the bank, prepay it to yourself. Invest it a la jlcollinsnh's Stock Series. Watch the money grow. Eventually, you will have enough to kill the whole mortgage in one payment. At that point, you may choose not to and keep the money in the market, but that will be a different MPP.

Thanks, Dicey.  Yeah, I understand the math completely and agree this is nearly always the best route.  Different situation for us -- We're FIREing very soon, and this is a conscious strategy.  Balance is very low anyway -- one more payment and it's gone.

PKate

  • 5 O'Clock Shadow
  • *
  • Posts: 84
  • Location: Northern New England
Re: Mustachian People Problems (just for fun)
« Reply #4804 on: February 25, 2018, 10:29:24 AM »
I have Amazon Prime and we use it heavily for shipping.   I hate that they use the USPS to deliver packages because they don't always arrive when Amazon says they will.  What is worse is the USPS will lie and say and give some lame excuse or lie that they tried to deliver it and no was home of course someone was home and the package didn't need to be signed for. 

So I have started contacting Amazon to complain.  It turns out that I am getting an extra month free of Prime membership each time I complain.  If my local USPS can't get their act together I won't have to pay for Prime till Amazon stops using them or changes their policy. 
I am up to 2 additional month of Prime for 2 complaints in less than a month.

LennStar

  • Pencil Stache
  • ****
  • Posts: 961
Re: Mustachian People Problems (just for fun)
« Reply #4805 on: February 25, 2018, 10:46:23 AM »
I have Amazon Prime and we use it heavily for shipping.   I hate that they use the USPS to deliver packages because they don't always arrive when Amazon says they will.  What is worse is the USPS will lie and say and give some lame excuse or lie that they tried to deliver it and no was home of course someone was home and the package didn't need to be signed for. 

So I have started contacting Amazon to complain.  It turns out that I am getting an extra month free of Prime membership each time I complain.  If my local USPS can't get their act together I won't have to pay for Prime till Amazon stops using them or changes their policy. 
I am up to 2 additional month of Prime for 2 complaints in less than a month.

Interesting MPP. Figure out how to bequeath Amazon Prime month.

If it makes you feel better: It is not only USPS that does those things. In one case the service just dropped the packet at someone in Number X when he didn't find the name, instead of delivering it to number Xa in the next house. The old woman (who thought is was her medicine) brought it to me an hour later.
It was officially delivered to a neighbor. Even if I had asked them all, I wouldn't have gotten my paket.

LeRainDrop

  • Handlebar Stache
  • *****
  • Posts: 1810
Re: Mustachian People Problems (just for fun)
« Reply #4806 on: February 25, 2018, 02:37:26 PM »
I have Amazon Prime and we use it heavily for shipping.   I hate that they use the USPS to deliver packages because they don't always arrive when Amazon says they will.  What is worse is the USPS will lie and say and give some lame excuse or lie that they tried to deliver it and no was home of course someone was home and the package didn't need to be signed for. 

So I have started contacting Amazon to complain.  It turns out that I am getting an extra month free of Prime membership each time I complain.  If my local USPS can't get their act together I won't have to pay for Prime till Amazon stops using them or changes their policy. 
I am up to 2 additional month of Prime for 2 complaints in less than a month.

Interesting MPP. Figure out how to bequeath Amazon Prime month.

If it makes you feel better: It is not only USPS that does those things. . . .

I've had that happen to me twice with Amazon Locker delivery.  In both those cases, when I placed my order, I could get free overnight shipping to the Locker less than a mile away from home, or I could get the regular free two-day shipping to my home.  I picked the Locker because I really wanted to receive each item ASAP, plus it would make for a pleasant walk to pick up the items.  In one case, there was a weather delay in another part of the country, and in another case, there was a mechanical failure on the Amazon delivery truck, so the packages were a day late.  Both times, I complained, and just like PKate said, they very readily offered to extend Amazon Prime by a month for free.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 7693
  • Registered member
Re: Mustachian People Problems (just for fun)
« Reply #4807 on: February 25, 2018, 09:19:28 PM »
I have Amazon Prime and we use it heavily for shipping.   I hate that they use the USPS to deliver packages because they don't always arrive when Amazon says they will.  What is worse is the USPS will lie and say and give some lame excuse or lie that they tried to deliver it and no was home of course someone was home and the package didn't need to be signed for. 

So I have started contacting Amazon to complain.  It turns out that I am getting an extra month free of Prime membership each time I complain.  If my local USPS can't get their act together I won't have to pay for Prime till Amazon stops using them or changes their policy. 
I am up to 2 additional month of Prime for 2 complaints in less than a month.

I WISH I got my packages late, as I don't usually need it right away and would like indefinitely free prime.  Unfortunately, my packages are always delivered promptly.  Wahhh

Freedomin5

  • Pencil Stache
  • ****
  • Posts: 746
  • Location: China
Re: Mustachian People Problems (just for fun)
« Reply #4808 on: February 26, 2018, 12:22:51 AM »
My MPP is that, for Chinese New Year, I received a number of red pockets via WeChat Pay. So now I have several hundred dollars sitting in my WeChat account. The problem is that I can’t transfer it out to my bank account without incurring a fee, and I can’t spend it fast enough.

A related MPP is that you can order food online via WeChat and have them deliver the food to your home, and you can use WeChat Pay for this. Problem is that I can’t find anything I want to buy since most things I can make myself for cheaper.

Linda_Norway

  • Magnum Stache
  • ******
  • Posts: 2567
Re: Mustachian People Problems (just for fun)
« Reply #4809 on: February 26, 2018, 01:45:51 AM »
A small social problem.

I invited 2 friends for 3 days at our mountain cabin to go skiing. Of course we wanted to seem generous and said they could behave like it was their own place. But they did put a LOT of firewood in the oven, even when it was very warm, so that I needed to take of my sweater to not get cooked. They liked my cheese better than the one they brought, so they took extra slices just to snack it because it is good, not to cover their slice of bread. They don't reuse a freshly used tea bag like I would have done. They burn a lot of candles early in the morning instead of turning on the light bulbs.
These are just small extra costs, but this way I notice just how frugal I usually am in the small things. It costs me some mental effort to not tell them to stop doing these things.

mustachepungoeshere

  • Handlebar Stache
  • *****
  • Posts: 2225
  • Location: Sydney, Oz
Re: Mustachian People Problems (just for fun)
« Reply #4810 on: February 26, 2018, 02:09:22 AM »
A small social problem.

I invited 2 friends for 3 days at our mountain cabin to go skiing. Of course we wanted to seem generous and said they could behave like it was their own place. But they did put a LOT of firewood in the oven, even when it was very warm, so that I needed to take of my sweater to not get cooked. They liked my cheese better than the one they brought, so they took extra slices just to snack it because it is good, not to cover their slice of bread. They don't reuse a freshly used tea bag like I would have done. They burn a lot of candles early in the morning instead of turning on the light bulbs.
These are just small extra costs, but this way I notice just how frugal I usually am in the small things. It costs me some mental effort to not tell them to stop doing these things.

I get that this is taxing for you, but remember the spirit of generosity that motivated you to invite them in the first place.

You introduced your friends to something new and wonderful. You brought happiness to their life. In the form of cheese. I think that's ok.

And if your cheese is more affordable than theirs, then maybe you have taught them something. :)

Linda_Norway

  • Magnum Stache
  • ******
  • Posts: 2567
Re: Mustachian People Problems (just for fun)
« Reply #4811 on: February 26, 2018, 03:27:54 AM »
A small social problem.

I invited 2 friends for 3 days at our mountain cabin to go skiing. Of course we wanted to seem generous and said they could behave like it was their own place. But they did put a LOT of firewood in the oven, even when it was very warm, so that I needed to take of my sweater to not get cooked. They liked my cheese better than the one they brought, so they took extra slices just to snack it because it is good, not to cover their slice of bread. They don't reuse a freshly used tea bag like I would have done. They burn a lot of candles early in the morning instead of turning on the light bulbs.
These are just small extra costs, but this way I notice just how frugal I usually am in the small things. It costs me some mental effort to not tell them to stop doing these things.

I get that this is taxing for you, but remember the spirit of generosity that motivated you to invite them in the first place.

You introduced your friends to something new and wonderful. You brought happiness to their life. In the form of cheese. I think that's ok.

And if your cheese is more affordable than theirs, then maybe you have taught them something. :)

I brought them most happiness because of the nice weather, nice location, ski trips with good snow with amazing views, lots of wild animals. They were very pleased with the long weekend.

PMG

  • Pencil Stache
  • ****
  • Posts: 865
Re: Mustachian People Problems (just for fun)
« Reply #4812 on: February 26, 2018, 03:39:13 AM »
I couldn’t use the first line on the clothes line because it was completely coated with ice that was so thick I couldn’t break it off. 

Spruit

  • Handlebar Stache
  • *****
  • Posts: 1022
  • Age: 31
  • Location: Netherlands
Re: Mustachian People Problems (just for fun)
« Reply #4813 on: February 26, 2018, 09:26:10 AM »
I seem to have worn right through my outer bike tires. Now a beige underlayer is showing, that can't be good.
Not sure if MPP or just plain cheap/lazy in maintaining my bike properly...
Yay, out of debt... now, GROW!
My current journal

Just Joe

  • Handlebar Stache
  • *****
  • Posts: 1791
Re: Mustachian People Problems (just for fun)
« Reply #4814 on: February 26, 2018, 10:40:14 AM »
No, that means you are doing something great. Hopefully that wear is from mi/kms and not skidding to a stop. Grab another quality tire and ride some more!

jordanread

  • Walrus Stache
  • *******
  • Posts: 6850
  • Age: 33
  • Location: Colorado Springs
  • Live Long, Live Free, Drop Dead
    • Frugal FIRE Show
Re: Mustachian People Problems (just for fun)
« Reply #4815 on: February 26, 2018, 10:51:59 AM »
No, that means you are doing something great. Hopefully that wear is from mi/kms and not skidding to a stop. Grab another quality tire and ride some more!

+1. I highly suggest Specialized Armadillos.
I am fine.
Join the cycling challenge!
Get in shape in 2018!
Frugal FIRE - Episode 2

Mathematically best is only best if you do it. A suboptimal plan that you actually execute on is MUCH better than a perfect plan you ignore.

CM*TO

Mika M

  • 5 O'Clock Shadow
  • *
  • Posts: 62
  • Age: 38
  • Location: Springfield, VA
  • FIRE stars in my eyes
    • The Lazy Frugal
Re: Mustachian People Problems (just for fun)
« Reply #4816 on: February 26, 2018, 01:59:14 PM »
Mika M, if you ever DO decide to do Disneyworld (we haven't yet) there's a travel hacking guide to do it mostly for free/very cheap. If we ever do it, we'll do it using those tips. But, for now, we get So Cal passes to Disneyland every few years and get our fill locally. We like Disney well enough (grew up in So Cal so there's a nostalgia factor there) but the idea of Disneyworld is super overwhelming to me.

Me too! We enjoy watching some Disney movies with kiddo and of course she digs all the princesses. But besides the money DH and I are not keen on spending the time or energy on a trip like that LOL.
Lazy Frugal

fuzzy math

  • Bristles
  • ***
  • Posts: 394
  • Location: PNW ---> Midwest (for now)
Re: Mustachian People Problems (just for fun)
« Reply #4817 on: February 26, 2018, 04:51:02 PM »
I keep wearing worn out / holey undergarments and socks "just one more time" before throwing them out. My work has a locker room that we must change in at the start of duty, and I'm looking pretty rough. My family expressed pity at my holey socks.

2nd prob - I get irritated at said items wearing out, then realize they're probably 7 years old. I then get bummed out that that is probably the best value i'll ever get out of any item as they're made cheaper and cheaper every year.
I like free stuff, you like free stuff, we both get free stuff
Get a free stock just by signing up at Robin hood

Dictionary Time

  • 5 O'Clock Shadow
  • *
  • Posts: 65
Re: Mustachian People Problems (just for fun)
« Reply #4818 on: February 26, 2018, 07:31:53 PM »
I keep wearing worn out / holey undergarments and socks "just one more time" before throwing them out. My work has a locker room that we must change in at the start of duty, and I'm looking pretty rough. My family expressed pity at my holey socks.

In a similar vein, I have a hang-up that I need to throw it away dirty.  So if I washed and dried it, and now I notice while I'm folding ... too bad, it gets one more go around.  (Can't waste that washing!)  But sometimes I just put it in the laundry and rinse and repeat (literally).

Spruit

  • Handlebar Stache
  • *****
  • Posts: 1022
  • Age: 31
  • Location: Netherlands
Re: Mustachian People Problems (just for fun)
« Reply #4819 on: February 27, 2018, 02:54:56 AM »
2nd prob - I get irritated at said items wearing out, then realize they're probably 7 years old. I then get bummed out that that is probably the best value i'll ever get out of any item as they're made cheaper and cheaper every year.

Yup, sounds familiar.

Also, once a student asked me where I got a certain skirt, as she really liked it. The realization that the skirt predated her and was a thriftstore find even then. #awkward
Yay, out of debt... now, GROW!
My current journal

fuzzy math

  • Bristles
  • ***
  • Posts: 394
  • Location: PNW ---> Midwest (for now)
Re: Mustachian People Problems (just for fun)
« Reply #4820 on: February 27, 2018, 07:45:17 AM »
I keep wearing worn out / holey undergarments and socks "just one more time" before throwing them out. My work has a locker room that we must change in at the start of duty, and I'm looking pretty rough. My family expressed pity at my holey socks.

In a similar vein, I have a hang-up that I need to throw it away dirty.  So if I washed and dried it, and now I notice while I'm folding ... too bad, it gets one more go around.  (Can't waste that washing!)  But sometimes I just put it in the laundry and rinse and repeat (literally).

I do that too. Take them on vacation, then your bag is lighter on the way home! Tell yourself the clothing is getting a Bon voyage :p
I like free stuff, you like free stuff, we both get free stuff
Get a free stock just by signing up at Robin hood

PKate

  • 5 O'Clock Shadow
  • *
  • Posts: 84
  • Location: Northern New England
Re: Mustachian People Problems (just for fun)
« Reply #4821 on: February 27, 2018, 09:13:38 AM »
2nd prob - I get irritated at said items wearing out, then realize they're probably 7 years old. I then get bummed out that that is probably the best value i'll ever get out of any item as they're made cheaper and cheaper every year.

Yup, sounds familiar.

Also, once a student asked me where I got a certain skirt, as she really liked it. The realization that the skirt predated her and was a thriftstore find even then. #awkward

I have had this happen with students and I just tell them it was an epic thrift-store find and then I find out they also shop at thrift stores too.  Of course this leads to a discussions on the best stores in the area.

dcheesi

  • Pencil Stache
  • ****
  • Posts: 587
Re: Mustachian People Problems (just for fun)
« Reply #4822 on: February 27, 2018, 09:17:33 AM »
2nd prob - I get irritated at said items wearing out, then realize they're probably 7 years old. I then get bummed out that that is probably the best value i'll ever get out of any item as they're made cheaper and cheaper every year.

Yup, sounds familiar.

Also, once a student asked me where I got a certain skirt, as she really liked it. The realization that the skirt predated her and was a thriftstore find even then. #awkward
It's "vintage" ;)

4alpacas

  • Handlebar Stache
  • *****
  • Posts: 1867
Re: Mustachian People Problems (just for fun)
« Reply #4823 on: February 27, 2018, 09:26:48 AM »
2nd prob - I get irritated at said items wearing out, then realize they're probably 7 years old. I then get bummed out that that is probably the best value i'll ever get out of any item as they're made cheaper and cheaper every year.

Yup, sounds familiar.

Also, once a student asked me where I got a certain skirt, as she really liked it. The realization that the skirt predated her and was a thriftstore find even then. #awkward
It's "vintage" ;)
The item I get the most compliments is a purse that I picked up at a second-hand shop for $20.  I tell everyone when they compliment the bag.

shelivesthedream

  • Magnum Stache
  • ******
  • Posts: 3092
  • Location: London, UK
Re: Mustachian People Problems (just for fun)
« Reply #4824 on: February 28, 2018, 03:50:34 PM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

fuzzy math

  • Bristles
  • ***
  • Posts: 394
  • Location: PNW ---> Midwest (for now)
Re: Mustachian People Problems (just for fun)
« Reply #4825 on: February 28, 2018, 04:03:03 PM »
Wearing a bra with only 1 underwire left. Things might be sitting uneven today. Need to move other underwire.
« Last Edit: March 01, 2018, 08:57:13 AM by fuzzy math »
I like free stuff, you like free stuff, we both get free stuff
Get a free stock just by signing up at Robin hood

Fresh Bread

  • Handlebar Stache
  • *****
  • Posts: 1247
  • Location: Australia
  • Insert dough/bread/crust joke
Re: Mustachian People Problems (just for fun)
« Reply #4826 on: February 28, 2018, 06:26:59 PM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

Ha ha! This has happened to me with "10 ways to reduce your environmental impact". I've been using my own shopping bags since ever, I need the level 2 stuff!

PKate

  • 5 O'Clock Shadow
  • *
  • Posts: 84
  • Location: Northern New England
Re: Mustachian People Problems (just for fun)
« Reply #4827 on: February 28, 2018, 07:54:47 PM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

Ha ha! This has happened to me with "10 ways to reduce your environmental impact". I've been using my own shopping bags since ever, I need the level 2 stuff!


If you want to level up check out what a bunch of permaculture enthusiasts are doing. 
I have learned quite a but from these people and much of it fits in well with a FIRE lifestyle.  https://permies.com/

Hirondelle

  • Pencil Stache
  • ****
  • Posts: 502
Re: Mustachian People Problems (just for fun)
« Reply #4828 on: March 01, 2018, 12:27:09 AM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

Ha ha! This has happened to me with "10 ways to reduce your environmental impact". I've been using my own shopping bags since ever, I need the level 2 stuff!

Same here! "10 ways to save money on travel" - staying at hostels?? How about staying at friends for free?

shelivesthedream

  • Magnum Stache
  • ******
  • Posts: 3092
  • Location: London, UK
Re: Mustachian People Problems (just for fun)
« Reply #4829 on: March 01, 2018, 01:46:33 AM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

Ha ha! This has happened to me with "10 ways to reduce your environmental impact". I've been using my own shopping bags since ever, I need the level 2 stuff!

Same here! "10 ways to save money on travel" - staying at hostels?? How about staying at friends for free?

Too far up the Wheaton scale already! https://paulwheaton12.wordpress.com/2014/12/16/the-wheaton-eco-scale/

ketchup

  • Magnum Stache
  • ******
  • Posts: 3246
  • Age: 27
Re: Mustachian People Problems (just for fun)
« Reply #4830 on: March 01, 2018, 08:32:29 AM »
You idly Google something like "extreme energy saving" and think "Well yeah, duh!" to all the ideas.

Ha ha! This has happened to me with "10 ways to reduce your environmental impact". I've been using my own shopping bags since ever, I need the level 2 stuff!
Yes!  I get this shit all the time with anything I'm at all into.  They're always stupid, obvious, or stupid-obvious.  Save money on travel by eating the free breakfast at the hotel!  Improve your health by eating more vegetables and less sugar!  Get better gas mileage by doing the maintenance on time in your car!  Reduce that burning smell by taking your palm off of that hot cast iron skillet! (Fine, I made that one up.)

My favorite "money saving tip" was on how to save money at restaurants.  "Instead of getting a drink, an appetizer, AND a dessert, sometimes only pick two of the three!"  Uh... or just never get any of the above...  or forget the restaurant.  I liked MMM's version of this "tip": "Don't think of restaurants as a source of food."  Much better.

frugalnacho

  • Magnum Stache
  • ******
  • Posts: 3076
  • Age: 35
  • Location: Madison Heights, Michigan
Re: Mustachian People Problems (just for fun)
« Reply #4831 on: March 01, 2018, 08:35:59 AM »
I update my networth graph on the 1st of every month.  I am down $12k from last month.

I relayed my MPP to my wife when I updated the sheet and her response was: buy buy buy!

rantk81

  • Bristles
  • ***
  • Posts: 262
  • Age: 36
  • Location: Chicago
Re: Mustachian People Problems (just for fun)
« Reply #4832 on: March 01, 2018, 09:32:54 AM »
I update my networth graph on the 1st of every month.  I am down $12k from last month.

Me too.

-35,154 for me in February :(

Just Joe

  • Handlebar Stache
  • *****
  • Posts: 1791
Re: Mustachian People Problems (just for fun)
« Reply #4833 on: March 01, 2018, 09:45:09 AM »
Wearing a bra with only 1 underwire left. Things might be sitting uneven today. Need to move other underwire.

You just need a foundation garment rebuild kit... That's a thing - right?
« Last Edit: March 01, 2018, 09:46:41 AM by Just Joe »

Imma

  • Pencil Stache
  • ****
  • Posts: 828
  • Location: Europe
Re: Mustachian People Problems (just for fun)
« Reply #4834 on: March 01, 2018, 11:28:18 AM »
Wearing a bra with only 1 underwire left. Things might be sitting uneven today. Need to move other underwire.

You just need a foundation garment rebuild kit... That's a thing - right?

You can definitely buy new underwires.... but the catch is they come in packs of 2 so you still have a MPP.

penguintroopers

  • 5 O'Clock Shadow
  • *
  • Posts: 97
Re: Mustachian People Problems (just for fun)
« Reply #4835 on: March 01, 2018, 11:37:44 AM »
Heard an ad on the radio on my way to school that was along the lines of "be three times more likely to be successful at quitting!"

My brain jumped to quitting your job. Nope, its quitting smoking.

Sun Hat

  • Bristles
  • ***
  • Posts: 355
  • Location: Canada
Re: Mustachian People Problems (just for fun)
« Reply #4836 on: March 02, 2018, 04:46:52 PM »
MPP isn't all that funny, but you folks may appreciate the humor in it.

I wildly over-contributed to my RRSPs (my tax-deferred retirement savings account). Unlike previous years where I've had one income, I've had multiple streams of income this year. Rather than asking my payers to withhold more to account for the higher total income and tax rate, I decided to lower my tax liability by significantly increasing my contributions to my tax sheltered account.
This would have been a good idea had I had the contribution room available, but I'm Mustachian, so I had virtually no contribution room available. Smart enough to manage a 60% savings rate, absent minded enough to forget the super-basic rule of when you're allowed to contribute. Sigh. Fortunately, I can easily pay the tax bill, but now I have to either  1) plead with Canada Revenue Agency not to fine me or 2) figure out how to withdraw from my  RRSP.

"You need a little bit of insanity to do great things." ~ Henry Rollins

Goldielocks

  • Walrus Stache
  • *******
  • Posts: 5260
  • Location: BC
Re: Mustachian People Problems (just for fun)
« Reply #4837 on: March 02, 2018, 05:29:20 PM »
LOL!   I spent a panicked 20 minutes yesterday double checking all my income amounts (T4's that I finally have) against my RRSP receipts (some of which have not yet arrived) to ensure I am ok.  Yep.. I think I am only $1500 over contributed for last year.


On a previous year, I was required to withdraw $5000.   They will waive the penalty if you have a first offense and rectify it (take it out) as soon as you can.

Sun Hat

  • Bristles
  • ***
  • Posts: 355
  • Location: Canada
Re: Mustachian People Problems (just for fun)
« Reply #4838 on: March 02, 2018, 08:31:46 PM »
That's good to know @Goldilocks! Now that I know what I need to do, I just need to figure out how. This calls for coffee. Lots and lots of coffee - and that's just to build up the nerve to call the bank's helpdesk!
"You need a little bit of insanity to do great things." ~ Henry Rollins

LeRainDrop

  • Handlebar Stache
  • *****
  • Posts: 1810
Re: Mustachian People Problems (just for fun)
« Reply #4839 on: March 03, 2018, 12:39:26 AM »
My federal tax refund is going to get deposited one day later than the 21-day estimate, so now I have to sell a minuscule amount of my index funds to make sure I don't overdraw my bank account for that single day.  And today I see that the market is back at a low again.  I shake my fist at this timing!

Imma

  • Pencil Stache
  • ****
  • Posts: 828
  • Location: Europe
Re: Mustachian People Problems (just for fun)
« Reply #4840 on: March 03, 2018, 05:02:59 AM »
LOL!   I spent a panicked 20 minutes yesterday double checking all my income amounts (T4's that I finally have) against my RRSP receipts (some of which have not yet arrived) to ensure I am ok.  Yep.. I think I am only $1500 over contributed for last year.


On a previous year, I was required to withdraw $5000.   They will waive the penalty if you have a first offense and rectify it (take it out) as soon as you can.

So over there, the amount of money you can contribute to a tax deferred account is calculated over the year you contribute in? That sounds very complicated! In my country, the amount of money you can contribute is calculated using last years' numbers, i.e. to know how much I can contribute in 2018, I look at the income in my 2017 tax return, so you always know exactly how much you can contribute in advance.

Sun Hat

  • Bristles
  • ***
  • Posts: 355
  • Location: Canada
Re: Mustachian People Problems (just for fun)
« Reply #4841 on: March 03, 2018, 06:49:38 AM »
Imma, that's exactly how it works here too. The problem I had was a strange mental fog that made me forget the way that I've been doing my taxes for 20 years and made me think otherwise.

I was anticipating a huge tax bill, and somehow I thought that it would be clever to lower my taxable income by sheltering it, even though on other days I was perfectly aware that the year's limit was based on the prior year. Now I still have the huge tax bill and am facing a penalty unless I withdraw the excess (which I will do when the markets open on Monday). Other than the initial shock, I'm not too fussed about the tax bill since the money wasn't supposed to be mine and it's not like I had spent it (heck, while sitting around, it probably earned me a tidy bit of interest). I'm really just aghast at how easily I made such a significant mistake - I LOVE rules, it's really very rare for me to break such a big one! I should really leave the clever ideas to the tax pros like you!
"You need a little bit of insanity to do great things." ~ Henry Rollins

bluebelle

  • Stubble
  • **
  • Posts: 132
  • Location: Toronto
Re: Mustachian People Problems (just for fun)
« Reply #4842 on: March 03, 2018, 11:47:39 AM »
Another Canadian MPP.  I need to call the bank to have them reduce my monthly RRSP contribution, so that I'm not in SunHat's position next year.

I think others have explained it, but to my non-Canadian Mustachians:
2018 RRSP contribution limit is determined as follows:
Lesser of $26,230 or 18% of 2017 taxable income MINUS your 2017 PA (pension adjustment) (which is any employer match or DB contributions)

My MPP is that the bonus last year and expected bonus this year were both good.  My Group RRSP (and company match) includes the bonus amount as well as regular pay.  So I will contribute more through the group RRSP and my 2017 PA was a little higher than I projected.

Goldielocks

  • Walrus Stache
  • *******
  • Posts: 5260
  • Location: BC
Re: Mustachian People Problems (just for fun)
« Reply #4843 on: March 03, 2018, 01:51:49 PM »
LOL!   I spent a panicked 20 minutes yesterday double checking all my income amounts (T4's that I finally have) against my RRSP receipts (some of which have not yet arrived) to ensure I am ok.  Yep.. I think I am only $1500 over contributed for last year.


On a previous year, I was required to withdraw $5000.   They will waive the penalty if you have a first offense and rectify it (take it out) as soon as you can.

So over there, the amount of money you can contribute to a tax deferred account is calculated over the year you contribute in? That sounds very complicated! In my country, the amount of money you can contribute is calculated using last years' numbers, i.e. to know how much I can contribute in 2018, I look at the income in my 2017 tax return, so you always know exactly how much you can contribute in advance.
No, it's the same. 

It's that on the T4 for the whole year, I can better see exactly how much was my mandatory contribution to the pension fund.  On another T4, I needed to verify the RRSP automatic matching contribution amounts.  I have three T4's this year, so the income varies, as well as the matching / pension amounts.

The amount able to contribute uses last year's amount, (like you) I just needed to determine how much I have contributed, to determine how much I can lump sum to max it out.   

I always get confused about the employer portion of the RRSP match -- I don't get a tax receipt for it, but it DOES go against my maximum calculation, correct?  I know that I get a Pension Adjustment (against next year), so it seems fair that there would be RRSP reduction for the employer match portion too, right?   What tax slip is that reported on? Does it only apply to the next year available amount, or to this year's contribution?

ETA:  Box 40 on the T4 slip shows the combined employee / employer match RRSP contributions, but the RRSP tax slip will only show the employee portion (because the employer matched portion is untaxed at time of contribution).
« Last Edit: March 03, 2018, 02:14:39 PM by Goldielocks »

Imma

  • Pencil Stache
  • ****
  • Posts: 828
  • Location: Europe
Re: Mustachian People Problems (just for fun)
« Reply #4844 on: March 03, 2018, 03:25:24 PM »
Thanks for the explanation all of you :) I'll admit I'm a tax geek. Differences between taxation systems are very interesting to me (and sometimes drive me insane at work!).


nnls

  • Pencil Stache
  • ****
  • Posts: 918
  • Location: Perth, AU
Re: Mustachian People Problems (just for fun)
« Reply #4845 on: March 03, 2018, 04:27:39 PM »
I negotiated a $5k per year pay rise end of last year which went into effect 1st January. So updated my automatic bank transfers into investment accounts and paying extra on to my mortgage

I assumed when I did this that I would not be eligible for a pay rise in March (when out company does annual pay rises) normally if you have started a new position or got a pay rise within the last 4 months you arent eligible for one in March.

But i have just discovered I will be getting an extra $12k per year from this months pay,so now I need to change everything again. 


Sun Hat

  • Bristles
  • ***
  • Posts: 355
  • Location: Canada
Re: Mustachian People Problems (just for fun)
« Reply #4846 on: March 03, 2018, 07:34:00 PM »
@nnls that's the Mustachiest problem I've ever heard! Stay strong, you'll get that extra money allocated somehow. Don't forget to fret endlessly over whether it's better to invest the money or put it towards your mortgage!
"You need a little bit of insanity to do great things." ~ Henry Rollins

nnls

  • Pencil Stache
  • ****
  • Posts: 918
  • Location: Perth, AU
Re: Mustachian People Problems (just for fun)
« Reply #4847 on: March 03, 2018, 07:39:38 PM »
@nnls that's the Mustachiest problem I've ever heard! Stay strong, you'll get that extra money allocated somehow. Don't forget to fret endlessly over whether it's better to invest the money or put it towards your mortgage!

will be stressing about it for ages, pay off debt or accumulate shares?!?


Step37

  • Bristles
  • ***
  • Posts: 317
  • Age: 44
  • Location: AB, Canada
Re: Mustachian People Problems (just for fun)
« Reply #4848 on: March 03, 2018, 08:15:02 PM »
Today’s MPP is that I made an error depositing cheques through my bank’s app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. It’s going to take a couple of days for the bank to error correct this (I notified them of my mistake right away), so my balance is inaccurate in the meantime. It’s bothering me.

"Not wanting something is as good as possessing it." ~Donald Horban

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 6717
  • Location: Australia
Re: Mustachian People Problems (just for fun)
« Reply #4849 on: March 03, 2018, 08:25:50 PM »
I negotiated a $5k per year pay rise end of last year which went into effect 1st January. So updated my automatic bank transfers into investment accounts and paying extra on to my mortgage

I assumed when I did this that I would not be eligible for a pay rise in March (when out company does annual pay rises) normally if you have started a new position or got a pay rise within the last 4 months you arent eligible for one in March.

But i have just discovered I will be getting an extra $12k per year from this months pay,so now I need to change everything again.

Congratulations on your problem :D