Author Topic: Mustachian People Problems (just for fun)  (Read 1786903 times)

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Re: Mustachian People Problems (just for fun)
« Reply #4800 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

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Re: Mustachian People Problems (just for fun)
« Reply #4801 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

fuzzy math

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Re: Mustachian People Problems (just for fun)
« Reply #4802 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

PKate

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Re: Mustachian People Problems (just for fun)
« Reply #4803 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

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Re: Mustachian People Problems (just for fun)
« Reply #4804 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

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Re: Mustachian People Problems (just for fun)
« Reply #4805 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

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Re: Mustachian People Problems (just for fun)
« Reply #4806 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

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Re: Mustachian People Problems (just for fun)
« Reply #4807 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 »

Fresh Bread

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Re: Mustachian People Problems (just for fun)
« Reply #4808 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

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Re: Mustachian People Problems (just for fun)
« Reply #4809 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

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Re: Mustachian People Problems (just for fun)
« Reply #4810 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

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Re: Mustachian People Problems (just for fun)
« Reply #4811 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

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Re: Mustachian People Problems (just for fun)
« Reply #4812 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

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Re: Mustachian People Problems (just for fun)
« Reply #4813 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

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Re: Mustachian People Problems (just for fun)
« Reply #4814 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

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Re: Mustachian People Problems (just for fun)
« Reply #4815 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

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Re: Mustachian People Problems (just for fun)
« Reply #4816 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

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Re: Mustachian People Problems (just for fun)
« Reply #4817 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

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Re: Mustachian People Problems (just for fun)
« Reply #4818 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.


Goldielocks

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Re: Mustachian People Problems (just for fun)
« Reply #4819 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

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Re: Mustachian People Problems (just for fun)
« Reply #4820 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!

LeRainDrop

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Re: Mustachian People Problems (just for fun)
« Reply #4821 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

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Re: Mustachian People Problems (just for fun)
« Reply #4822 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

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Re: Mustachian People Problems (just for fun)
« Reply #4823 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!

bluebelle

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Re: Mustachian People Problems (just for fun)
« Reply #4824 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

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Re: Mustachian People Problems (just for fun)
« Reply #4825 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

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Re: Mustachian People Problems (just for fun)
« Reply #4826 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

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Re: Mustachian People Problems (just for fun)
« Reply #4827 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

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Re: Mustachian People Problems (just for fun)
« Reply #4828 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!

nnls

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Re: Mustachian People Problems (just for fun)
« Reply #4829 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

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Re: Mustachian People Problems (just for fun)
« Reply #4830 on: March 03, 2018, 08:15:02 PM »
Todayís MPP is that I made an error depositing cheques through my bankís app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. Itís 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. Itís bothering me.


HappierAtHome

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Re: Mustachian People Problems (just for fun)
« Reply #4831 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

nnls

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Re: Mustachian People Problems (just for fun)
« Reply #4832 on: March 03, 2018, 08:40:46 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

thank you! but now do I use this pay rise for superannuation, mortgage pay off or shares outside of super?

or be totally unmustachian and put some more towards holiday savings?

HappierAtHome

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Re: Mustachian People Problems (just for fun)
« Reply #4833 on: March 03, 2018, 09:12:15 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

thank you! but now do I use this pay rise for superannuation, mortgage pay off or shares outside of super?

or be totally unmustachian and put some more towards holiday savings?

Assuming you mean mortgage offset... Mortgage offset and holidays would be my vote. I'm a terrible mustachian :-P

nnls

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Re: Mustachian People Problems (just for fun)
« Reply #4834 on: March 03, 2018, 10:28:11 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

thank you! but now do I use this pay rise for superannuation, mortgage pay off or shares outside of super?

or be totally unmustachian and put some more towards holiday savings?

Assuming you mean mortgage offset... Mortgage offset and holidays would be my vote. I'm a terrible mustachian :-P

I mean straight onto mortgage not into offset, I pay extra on top of using my offset

Luckyvik

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Re: Mustachian People Problems (just for fun)
« Reply #4835 on: March 04, 2018, 02:50:56 AM »
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

thank you! but now do I use this pay rise for superannuation, mortgage pay off or shares outside of super?

or be totally unmustachian and put some more towards holiday savings?

Assuming you mean mortgage offset... Mortgage offset and holidays would be my vote. I'm a terrible mustachian :-P

I mean straight onto mortgage not into offset, I pay extra on top of using my offset
Congratulations on the payrises! Don’t forget to keep an eye on the $25k concessional contribution cap!


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Penn42

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Re: Mustachian People Problems (just for fun)
« Reply #4836 on: March 04, 2018, 08:23:01 AM »
Todayís MPP is that I made an error depositing cheques through my bankís app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. Itís 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. Itís bothering me.

I hate this!  I accidentally transferred my last paycheck to another bank and not to Vanguard like I meant to.  So I'd have to wait till that comes through to then send it to Vanguard.  But I didn't want to wait so I took a chunk out of my FU fund and sent it to Vanguard which'll just get replaced once the first messed up transfer comes through.  In the mean time my FU fund looks small and it's driving me nuts.

I know, I know, should have it on auto... I kinda like doing it manually for now.  Only a few more checks to deposit before my IRA is maxed anyway and then I'll up my payroll deduction for my 401k.

LennStar

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Re: Mustachian People Problems (just for fun)
« Reply #4837 on: March 04, 2018, 11:30:55 AM »
Todayís MPP is that I made an error depositing cheques through my bankís app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. Itís 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. Itís bothering me.

I hate this!  I accidentally transferred my last paycheck to another bank and not to Vanguard like I meant to.  So I'd have to wait till that comes through to then send it to Vanguard.  But I didn't want to wait so I took a chunk out of my FU fund and sent it to Vanguard which'll just get replaced once the first messed up transfer comes through.  In the mean time my FU fund looks small and it's driving me nuts.

I know, I know, should have it on auto... I kinda like doing it manually for now.  Only a few more checks to deposit before my IRA is maxed anyway and then I'll up my payroll deduction for my 401k.

As always I am astonished by the fact that The Greatest Nation on Earth (ahem) still uses cheques.
But I am even more intrigued by the fact that you make extremely easy to fake digital pictures of them to send them over the easily sniffable internet to make money transfers. It is a real marvel of stupid inefficiency.

Tell me, do the banks print them out and file them so they have a proof in case of?

Linda_Norway

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Re: Mustachian People Problems (just for fun)
« Reply #4838 on: March 04, 2018, 12:07:41 PM »
We have a mountain cabin in a very small village. The shop has been closed for some years. Now, some people will start up a new shop by buying the shop building and renting it out. They have found a motivated person to drive the shop. Now they need capital to invest into the building. The cabin owners and many others have been asked to invest money in the project. The project is not supposed to make profit. We also think the building might not be sold later. Therefore we think the "investment" should be regarded as charity. We have decided to give the sum we want to give in charity to the project. We hope to see the shop open in the future and will purchase our food there whenever we visit.

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #4839 on: March 04, 2018, 12:15:17 PM »
Todayís MPP is that I made an error depositing cheques through my bankís app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. Itís 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. Itís bothering me.

I hate this!  I accidentally transferred my last paycheck to another bank and not to Vanguard like I meant to.  So I'd have to wait till that comes through to then send it to Vanguard.  But I didn't want to wait so I took a chunk out of my FU fund and sent it to Vanguard which'll just get replaced once the first messed up transfer comes through.  In the mean time my FU fund looks small and it's driving me nuts.

I know, I know, should have it on auto... I kinda like doing it manually for now.  Only a few more checks to deposit before my IRA is maxed anyway and then I'll up my payroll deduction for my 401k.

As always I am astonished by the fact that The Greatest Nation on Earth (ahem) still uses cheques.
But I am even more intrigued by the fact that you make extremely easy to fake digital pictures of them to send them over the easily sniffable internet to make money transfers. It is a real marvel of stupid inefficiency.

Tell me, do the banks print them out and file them so they have a proof in case of?

Uh, itís encrypted.  But I agree, it would be much easier to just tell your bank ďtransfer $x to this account.Ē  I once had a credit union with that functionality and it was great for splitting bills with coworkers and such.


Step37

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Re: Mustachian People Problems (just for fun)
« Reply #4840 on: March 04, 2018, 12:19:24 PM »
Todayís MPP is that I made an error depositing cheques through my bankís app. I had a $1000 and a $150 cheque to deposit, but keyed in $1000 when I took a picture of the $150 cheque. Itís 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. Itís bothering me.

I hate this!  I accidentally transferred my last paycheck to another bank and not to Vanguard like I meant to.  So I'd have to wait till that comes through to then send it to Vanguard.  But I didn't want to wait so I took a chunk out of my FU fund and sent it to Vanguard which'll just get replaced once the first messed up transfer comes through.  In the mean time my FU fund looks small and it's driving me nuts.

I know, I know, should have it on auto... I kinda like doing it manually for now.  Only a few more checks to deposit before my IRA is maxed anyway and then I'll up my payroll deduction for my 401k.

As always I am astonished by the fact that The Greatest Nation on Earth (ahem) still uses cheques.
But I am even more intrigued by the fact that you make extremely easy to fake digital pictures of them to send them over the easily sniffable internet to make money transfers. It is a real marvel of stupid inefficiency.

Tell me, do the banks print them out and file them so they have a proof in case of?

I agree with you that cheques should really no longer even exist. However, since businesses and individuals continue to use them, Iím happy to have the very convenient option of depositing through the app when I get them (regularly). The system is ripe for fraud, though, so much so that at least one of the big banks in Canada does not offer this option. Apparently, there are people who will deposit the same cheque to multiple accounts at different banks.

And (now) I happen to know (because I sign on the account that the ďmistaken amountĒ cheque was drawn on) that the cheque will clear for the amount that is typed in!!! This is a terrible loophole. I donít think this is the case with every bank, because Iíve transposed numbers and had the app say, ďyou typed 95.50 but we see 59.50Ē and it gives the option to correct or leave it. But yeah, I can now see why some banks are avoiding this technology. Yikes.

Goldielocks

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Re: Mustachian People Problems (just for fun)
« Reply #4841 on: March 04, 2018, 05:34:43 PM »
RE: Cheques in Canada.

The mobile deposit ap - the banks don't see this any differently than giving you access to your overdraft protection monies upon request.      You send in the photo of the cheque and when / if it clears, you are off the hook for repaying that amount back to the bank.   If it does not fully clear, then the account owner (not the person who wrote the bad cheque) pays the bank back.

That is why the banks pretty much force everyone to get overdraft on their accounts.... so that they can reverse charges even 45 days later, if there is a problem with a deposited cheque.   If you don't cover the amount with cash, they charge you the NSF and overdraft fees.

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Re: Mustachian People Problems (just for fun)
« Reply #4842 on: March 05, 2018, 08:46:29 AM »
I can't get my income tax to be calculated correctly in advance. I either get way too much as a monthly return, or get an amount back once a year, despite the fact that I should be able to end up with 0, they keep changing the amounts.  Due to me paying off my mortgage this amount is getting smaller each year though. After two years of trying to finetune it (and end up with a 0 balance) I have now given up and settle for the annual return, as it is less hassle. The mustachian in me tells me to go for the double monthly return and save/invest, and pay back at the end of the year. The non-logical mustachian in me gets very upset about paying back such an amount. Most friends are happy that they get a very high amount back, as they see it as free money.

Spruit

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Re: Mustachian People Problems (just for fun)
« Reply #4843 on: March 05, 2018, 01:55:21 PM »
I have a similar issue with the energy companies. Apparently my "standard usage" is way higher than what I actually use, resulting in me getting back multple hundreds of euros once a year. Every year I try to get them to lower the prepayment and every year they urge me to go for a higher one so that I'm "safe". Apparently it doesn't matter I have been "safe" for year after year.

Shamantha

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Re: Mustachian People Problems (just for fun)
« Reply #4844 on: March 05, 2018, 02:21:21 PM »
Very recognisable Spruit. Nowadays I just reset it to my preferred amount online after they adjust it as part of the annual reconciliation.

Urchina

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Re: Mustachian People Problems (just for fun)
« Reply #4845 on: March 06, 2018, 12:54:18 AM »
With 3/4 of us packing lunches daily in reusable containers, we're running out of dishwasher space. If DH joins in the party on any given day, we're sunk and have to (gasp!) resort to handwashing dishes.

Also: because I batch cook and use that as meal prep for the week, our fridge is PACKED on Monday. Like, Tokyo subway during rush hour packed.

shelivesthedream

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Re: Mustachian People Problems (just for fun)
« Reply #4846 on: March 06, 2018, 01:35:44 AM »
I have a similar issue with the energy companies. Apparently my "standard usage" is way higher than what I actually use, resulting in me getting back multple hundreds of euros once a year. Every year I try to get them to lower the prepayment and every year they urge me to go for a higher one so that I'm "safe". Apparently it doesn't matter I have been "safe" for year after year.

Yep - mine is inching down every time they do a six month review but they're not keen to take it down more than a couple of quid each time. I've just switched companies, though, so may have to start all over again...

LennStar

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Re: Mustachian People Problems (just for fun)
« Reply #4847 on: March 06, 2018, 01:43:58 AM »
I have a similar issue with the energy companies. Apparently my "standard usage" is way higher than what I actually use, resulting in me getting back multple hundreds of euros once a year. Every year I try to get them to lower the prepayment and every year they urge me to go for a higher one so that I'm "safe". Apparently it doesn't matter I have been "safe" for year after year.
Having your money means they have to take less credits. Less costs, more money for CEO bonuses ;)

Imma

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Re: Mustachian People Problems (just for fun)
« Reply #4848 on: March 06, 2018, 06:31:35 AM »
I have a similar issue with the energy companies. Apparently my "standard usage" is way higher than what I actually use, resulting in me getting back multple hundreds of euros once a year. Every year I try to get them to lower the prepayment and every year they urge me to go for a higher one so that I'm "safe". Apparently it doesn't matter I have been "safe" for year after year.

We switched to Vandebron a while back and they were the first company that actually offered to lower our monthly prepayment! We used to pay Ä85, now we pay Ä70 and I think that's still too much. I'm still waiting for the day they ring they visit us unannounced to check if we haven't manipulated the energy meter.

Spruit

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Re: Mustachian People Problems (just for fun)
« Reply #4849 on: March 06, 2018, 09:00:37 AM »
Actually, I'm with the same provider! And the re-set my prepayment to 105 (after paying 85 at the previous one, AND getting money back). So, ??? I'm not sure what happened there. I thought it was maybe the energy tax that has gone up, but apparently not so much?
Anyway, I'll either get money back again or I was "lucky" last three years. Can live with both outcomes.