Author Topic: Mustachian People Problems (just for fun)  (Read 3690873 times)

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Re: Mustachian People Problems (just for fun)
« Reply #6200 on: April 08, 2019, 11:33:34 AM »
A few months back I ripped my pyjamas. There is one rip in the trouser part and another in the top half, while other areas are becoming threadbare. The rips have been slowly getting worse over time, normally if I stretch at a funny angle or am clumsy putting them on. The pyjamas are now so incredibly revealing even the male equivalent of Victoria's Secret wouldn't stock them. Last week I downgraded my description of them from 'extremely racy' to 'incredibly inappropriate.' The latest rip has seen them downgraded further to a classification of 'utterly obscene.' Honestly the Incredible Hulk has better fitting garments. I'm afraid I don't know how to sew, although appreciate this is a good opportunity to learn a new skill.

This is a Mustachian People Problem because instead of just replacing or mending them, I really want to see how long I can make them last.

meerkat

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Re: Mustachian People Problems (just for fun)
« Reply #6201 on: April 08, 2019, 11:52:23 AM »
A few months back I ripped my pyjamas. There is one rip in the trouser part and another in the top half, while other areas are becoming threadbare. The rips have been slowly getting worse over time, normally if I stretch at a funny angle or am clumsy putting them on. The pyjamas are now so incredibly revealing even the male equivalent of Victoria's Secret wouldn't stock them. Last week I downgraded my description of them from 'extremely racy' to 'incredibly inappropriate.' The latest rip has seen them downgraded further to a classification of 'utterly obscene.' Honestly the Incredible Hulk has better fitting garments. I'm afraid I don't know how to sew, although appreciate this is a good opportunity to learn a new skill.

This is a Mustachian People Problem because instead of just replacing or mending them, I really want to see how long I can make them last.

Your username seems very appropriate.

ixtap

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Re: Mustachian People Problems (just for fun)
« Reply #6202 on: April 08, 2019, 04:36:46 PM »
I am reading a book about estate planning and its primary premise seems to be "What will be think of you?!" Uh, I really don't care that much of what people think of me, particularly in how I use my money, while I am alive, let the chips lay where they may when I am dead.

pdxmonkey

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Re: Mustachian People Problems (just for fun)
« Reply #6203 on: April 08, 2019, 10:44:19 PM »
Ooh, I have one!!! Yesterday I got a letter in the mail from Target because I haven't used my Red Card in a while and they want to make sure I didn't lose it. I just haven't used it in a while because I still have gift cards that I bought in December when they were 10% off.

They canceled mine for inactivity so keep that in mind.  To be fair they did give us warning and we still forgot to use it
Similar. Except I didn't forget/care and let them cancel it. Now someday they can pay me sign up bonuses again maybe:)

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #6204 on: April 08, 2019, 11:20:15 PM »
Ooh, I have one!!! Yesterday I got a letter in the mail from Target because I haven't used my Red Card in a while and they want to make sure I didn't lose it. I just haven't used it in a while because I still have gift cards that I bought in December when they were 10% off.

They canceled mine for inactivity so keep that in mind.  To be fair they did give us warning and we still forgot to use it
Similar. Except I didn't forget/care and let them cancel it. Now someday they can pay me sign up bonuses again maybe:)

I did like the general idea of getting 5% off though.  And if I'm going to blow a hard pull, I want a few hundred dollars of bonus.  I'm pretty sure I'll sign up for the debit card for the free shipping/5% but I've been too lazy and maybe it won't happen.

Linea_Norway

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Re: Mustachian People Problems (just for fun)
« Reply #6205 on: April 12, 2019, 09:55:32 AM »
Since half a year I work 80% and have fridays off. That means that I can no longer take home access fruit from the fruit bowl home at Friday afternoon.
But today I swapped my day off and worked on Friday. As this is the day before a holyday, many people went home really early. There was a lot of fruit left, especially bananas. When I went home, as one of the last, I totally forgot to look at the fruit bowl. It is no longer in my routine and therefore I just forgot. I just remembered it when driving home and I didn't think it was worth returning to work to get all these bananas.

I hope someone else will take them home, but I fear that they will lay over until Monday and will be thown away because they are browned.

chrisgermany

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Re: Mustachian People Problems (just for fun)
« Reply #6206 on: April 12, 2019, 10:55:47 AM »
Will you go in on monday? My freezer always has a bag with older bananas, peeled. They are used for low carb (n)ice cream, muffins, banana bread, smoothie.

letsdoit

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Re: Mustachian People Problems (just for fun)
« Reply #6207 on: April 12, 2019, 11:12:19 AM »
true dat:  alot of folks love the brown bananas, so sweet, so good to cook with too
i've noticed in non-tropical countries they throw out the brown ones

Linea_Norway

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Re: Mustachian People Problems (just for fun)
« Reply #6208 on: April 12, 2019, 11:20:20 AM »
Will you go in on monday? My freezer always has a bag with older bananas, peeled. They are used for low carb (n)ice cream, muffins, banana bread, smoothie.

Now, I am off to our cabin for a week. That is 5,5 hours driving away from home/work.

Taran Wanderer

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Re: Mustachian People Problems (just for fun)
« Reply #6209 on: April 12, 2019, 09:43:34 PM »
It's that time of year when one of our local non-profits does a fun drive.  A friend who is on the board of directors called DW, and she pledged $150, or normal amount for the last couple of years.  I went ahead and sent in a check (yes, I'm old fashioned), and considered it done.  Then, DW was at the place for something else, remembered the pledge, and... wrote them a check.  So now we have given $300.  Not a big deal, and we're happy to provide the support.  When I shared the funny story with the leader of the non-profit today, he promised to send us an invoice for our pledge...

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #6210 on: April 12, 2019, 10:19:11 PM »
Will you go in on monday? My freezer always has a bag with older bananas, peeled. They are used for low carb (n)ice cream, muffins, banana bread, smoothie.

Do you want a frozen banana?  No... but I do want a regular banana later so.. yeah

Trifele

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Re: Mustachian People Problems (just for fun)
« Reply #6211 on: April 13, 2019, 03:19:30 AM »
A frugal friend invited me up for a girl's weekend. It was wonderful to sit and drink Aldi tea, share our fun retirement plans, and discuss portfolio balancing and when to convert 401k funds to IRAs. Not your stereotypical girltalk,  but just what I needed.  I have so few gal friends who speak FIRE, wish I had more.

That sounds fantastic @Parizade!  Now I have an MPP that I soooo wish I had some friends like that!

Parizade

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Re: Mustachian People Problems (just for fun)
« Reply #6212 on: April 13, 2019, 07:38:26 AM »
A frugal friend invited me up for a girl's weekend. It was wonderful to sit and drink Aldi tea, share our fun retirement plans, and discuss portfolio balancing and when to convert 401k funds to IRAs. Not your stereotypical girltalk,  but just what I needed.  I have so few gal friends who speak FIRE, wish I had more.

That sounds fantastic @Parizade!  Now I have an MPP that I soooo wish I had some friends like that!

Okay I've searched the forum FAQs and Google and can't figure out what MPP is, help?

It was fantastic, maybe we need to plan some ladies events so we can share frugal girl talk.

SwordGuy

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Re: Mustachian People Problems (just for fun)
« Reply #6213 on: April 13, 2019, 07:54:12 AM »
Okay I've searched the forum FAQs and Google and can't figure out what MPP is, help?

Mustachian People Problems, like the thread title.  :)

Parizade

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Re: Mustachian People Problems (just for fun)
« Reply #6214 on: April 13, 2019, 08:16:59 AM »
Okay I've searched the forum FAQs and Google and can't figure out what MPP is, help?

Mustachian People Problems, like the thread title.  :)

Well DUH! thank you!

K-ice

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Re: Mustachian People Problems (just for fun)
« Reply #6215 on: April 14, 2019, 08:40:13 PM »
My Child was just offered a free sports program through their school. They came home excited they were chosen for the program, as were a few of their friends.  As I went to sign up I realized it is for disadvantaged children. (Maybe my spouse and I need to dress up a bit more before we meet the teacher next time.) My kid also has 2-3 favorite outfits & it is hard to get them to wear anything else. I have mixed feelings about signing them up. It looks like the program is designed for lower income, immigrant, &/or inner city children.  Part of me is thinking "that's not my kid". (I feel like a total snob thinking this.) I worry my child is taking a spot from someone else. But they are excited to play & I also think it is good for them to interact with children from many different backgrounds and to get outside more & have fun. 

There is a place to make a donation so I think I will be sure to offset the costs for my child and one other.

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Re: Mustachian People Problems (just for fun)
« Reply #6216 on: April 14, 2019, 08:49:11 PM »
There is a place to make a donation so I think I will be sure to offset the costs for my child and one other.

I think this is a wonderful thing to do.

SwordGuy

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Re: Mustachian People Problems (just for fun)
« Reply #6217 on: April 15, 2019, 07:10:27 AM »
There is a place to make a donation so I think I will be sure to offset the costs for my child and one other.

I think this is a wonderful thing to do.

Well done. 

Alfred J Quack

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Re: Mustachian People Problems (just for fun)
« Reply #6218 on: April 16, 2019, 02:09:42 AM »
Had an accident last year and am recovering from TBI (albeit very, very slowly). Had a tip to do something with my hands to counterbalance my work which is mainly mentally chalanging. Took up watercoloring as my previous woodworking was too intense (and handling dangerous equipment while dizzy is not a good idea). Watched a few youtube videos, and have correspondence going with my aunt the caligraphy teacher (who also does some watercoloring) and have been happily doing my best for the last couple of months...
Total cost of all materials, around 100 for some decent paint, paper, couple of brushes and a few sketchbooks.

Result, if anyone's interested: https://imgur.com/a/DKqOWGM (enable your adblocker!)

The problem? I got a giftcard from the workers council at work (of which I was a member but had to quit because of the slow recovery). They heard I was watercoloring and got me a gift card for the local craft shop. Said craft shop is more targeted to kids (girls especially) and their stock of what I use is nearly non existent and very expensive to boot. Eventually I decided to get a set of clay for my son (for motor skill development) rather than use something because it had to be used rather than because I needed it.
« Last Edit: April 16, 2019, 06:03:15 AM by Alfred J Quack »

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Re: Mustachian People Problems (just for fun)
« Reply #6219 on: April 16, 2019, 05:57:11 AM »
@Alfred J Quack I would delete that link, it can be traced to you. Your art looks great though!

Alfred J Quack

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Re: Mustachian People Problems (just for fun)
« Reply #6220 on: April 16, 2019, 06:03:49 AM »
@Alfred J Quack I would delete that link, it can be traced to you. Your art looks great though!
Thanks, I didn't realise that. Changed the link to a more less personal one :)

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Re: Mustachian People Problems (just for fun)
« Reply #6221 on: April 16, 2019, 09:42:23 AM »
There is a place to make a donation so I think I will be sure to offset the costs for my child and one other.

I think this is a wonderful thing to do.

Well done.

Brilliant! That was going to be my suggestion.

Also, if you have the time and you like the program, see if they need help with organizational stuff. Frequently (at least here) disadvantaged kids = overwhelmed or non-English-speaking parents, and these kinds of programs can use help keeping track of ... "stuff" (like making sure everyone has a signed physical form, or that uniforms have been passed out, or doing laundry afterwards, or making sure the coaches have a couple of boxes of snacks for kids who show up hungry. The things that need to happen so the coaches can focus on coaching.)

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Re: Mustachian People Problems (just for fun)
« Reply #6222 on: April 18, 2019, 10:13:58 AM »
Will you go in on monday? My freezer always has a bag with older bananas, peeled. They are used for low carb (n)ice cream, muffins, banana bread, smoothie.

Do you want a frozen banana?  No... but I do want a regular banana later so.. yeah

Solid Mitch reference. 

zygote

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Re: Mustachian People Problems (just for fun)
« Reply #6223 on: April 19, 2019, 02:49:05 PM »
I noticed my gross pay was $10 lower than usual this pay period, so I asked payroll what happened.

Well, turns out it's because of Leap Day. We get paid biweekly, so they take our annual salary, divide by 365, and multiply by 14 for each paystub. Since this next fiscal year (4/1/19 to 3/31/19) includes a Leap Day, they divide by 366 instead.

I mean, mathematically this all works out and we do eventually get paid our entire annual salary. But since we still get the same 26 paychecks this fiscal year, it feels like a paycut in practice. Like, sure, I'm getting paid my full annual salary in the end, but it seems like an asinine way to do things. I honestly think it's a problem with biweekly pay in general. Even in a non-leap year, I only get 364/365 of my salary. It doesn't all even out until years where there happen to be 27 pay periods (which is only once every 11 years).

The extra $10 certainly doesn't make or break my budget. But it's the principle of it. I think about expenses and savings in terms of months and years, not fortnights. I'd like my entire annual salary to hit my bank account in one year so I can use it appropriately, thanks.

Paying salaried exempt employees bimonthly would make so much more sense.

ETA: This is a MPP to me because my coworkers didn't notice until I asked them if it bothered them too. I honestly think most people don't pay attention to their paychecks. I realized right away because I monitor all my retirement contributions, deductions, etc. and have a spreadsheet of exactly how I think my paystub will break down.
« Last Edit: April 19, 2019, 02:51:23 PM by zygote »

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #6224 on: April 20, 2019, 01:51:32 PM »
I noticed my gross pay was $10 lower than usual this pay period, so I asked payroll what happened.

Well, turns out it's because of Leap Day. We get paid biweekly, so they take our annual salary, divide by 365, and multiply by 14 for each paystub. Since this next fiscal year (4/1/19 to 3/31/19) includes a Leap Day, they divide by 366 instead.

I mean, mathematically this all works out and we do eventually get paid our entire annual salary. But since we still get the same 26 paychecks this fiscal year, it feels like a paycut in practice. Like, sure, I'm getting paid my full annual salary in the end, but it seems like an asinine way to do things. I honestly think it's a problem with biweekly pay in general. Even in a non-leap year, I only get 364/365 of my salary. It doesn't all even out until years where there happen to be 27 pay periods (which is only once every 11 years).

The extra $10 certainly doesn't make or break my budget. But it's the principle of it. I think about expenses and savings in terms of months and years, not fortnights. I'd like my entire annual salary to hit my bank account in one year so I can use it appropriately, thanks.

Paying salaried exempt employees bimonthly would make so much more sense.

ETA: This is a MPP to me because my coworkers didn't notice until I asked them if it bothered them too. I honestly think most people don't pay attention to their paychecks. I realized right away because I monitor all my retirement contributions, deductions, etc. and have a spreadsheet of exactly how I think my paystub will break down.

It's kinda stingy on the part of the company, although I understand strict budgeting.  Like those years with 27 pay days.  My company just paid us normally, so we basically got a ~4% bonus that year.  But some companies will recalculate each paycheck.

sherr

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Re: Mustachian People Problems (just for fun)
« Reply #6225 on: April 21, 2019, 01:35:09 PM »
« Last Edit: April 23, 2019, 09:17:47 AM by sherr »

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #6226 on: April 21, 2019, 11:20:31 PM »
I noticed my gross pay was $10 lower than usual this pay period, so I asked payroll what happened.

Well, turns out it's because of Leap Day. We get paid biweekly, so they take our annual salary, divide by 365, and multiply by 14 for each paystub. Since this next fiscal year (4/1/19 to 3/31/19) includes a Leap Day, they divide by 366 instead.

I mean, mathematically this all works out and we do eventually get paid our entire annual salary. But since we still get the same 26 paychecks this fiscal year, it feels like a paycut in practice. Like, sure, I'm getting paid my full annual salary in the end, but it seems like an asinine way to do things. I honestly think it's a problem with biweekly pay in general. Even in a non-leap year, I only get 364/365 of my salary. It doesn't all even out until years where there happen to be 27 pay periods (which is only once every 11 years).

The extra $10 certainly doesn't make or break my budget. But it's the principle of it. I think about expenses and savings in terms of months and years, not fortnights. I'd like my entire annual salary to hit my bank account in one year so I can use it appropriately, thanks.

Paying salaried exempt employees bimonthly would make so much more sense.

ETA: This is a MPP to me because my coworkers didn't notice until I asked them if it bothered them too. I honestly think most people don't pay attention to their paychecks. I realized right away because I monitor all my retirement contributions, deductions, etc. and have a spreadsheet of exactly how I think my paystub will break down.

It's kinda stingy on the part of the company, although I understand strict budgeting.  Like those years with 27 pay days.  My company just paid us normally, so we basically got a ~4% bonus that year.  But some companies will recalculate each paycheck.

No, it's not the same. Regardless of whether any given year happens to contain 26 or 27 paydays, in every case you're still being paid for 2 weeks of work. You're salary rate for 2 weeks of work has not changed in the 27 payday years, it just happens that in the 27-payday year you're also receiving a paycheck for work you did mostly in the previous year. If your company recalculated your rate for 27-payday years they'd be cheating you.

By contrast in a leap year your 2-week salary rate *has* actually changed, because the year is longer so your annual salary is divided by 26.14 instead of 26.07 two-week periods. I agree it's pretty stingy though. An extra $260 per employee per 4-year-period is not exactly going to break the bank.

You are framing it as a "2 week salary" but most people I know are paid at an annual rate.  Totally depends on the wording of your contract, but as an example if I'm paid $52k per year at $2k per paycheck, in 2016 I get $52k, 2017 has 27 paydays so I get $54k, then in 2018 I get $52k.  Therefore, the annual salary rate *has* actually changed.

If you're an hourly employee, you'd get paid more on a leap year because you will have worked an extra 8 hours.  I really doubt many people have a true biweekly salary agreement, but if they did then recalculating the amounts based on leap years wouldn't just by stingy, it would be illegal.

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Re: Mustachian People Problems (just for fun)
« Reply #6227 on: April 22, 2019, 05:51:19 AM »
I noticed my gross pay was $10 lower than usual this pay period, so I asked payroll what happened.

Well, turns out it's because of Leap Day. We get paid biweekly, so they take our annual salary, divide by 365, and multiply by 14 for each paystub. Since this next fiscal year (4/1/19 to 3/31/19) includes a Leap Day, they divide by 366 instead.

I mean, mathematically this all works out and we do eventually get paid our entire annual salary. But since we still get the same 26 paychecks this fiscal year, it feels like a paycut in practice. Like, sure, I'm getting paid my full annual salary in the end, but it seems like an asinine way to do things. I honestly think it's a problem with biweekly pay in general. Even in a non-leap year, I only get 364/365 of my salary. It doesn't all even out until years where there happen to be 27 pay periods (which is only once every 11 years).

The extra $10 certainly doesn't make or break my budget. But it's the principle of it. I think about expenses and savings in terms of months and years, not fortnights. I'd like my entire annual salary to hit my bank account in one year so I can use it appropriately, thanks.

Paying salaried exempt employees bimonthly would make so much more sense.

ETA: This is a MPP to me because my coworkers didn't notice until I asked them if it bothered them too. I honestly think most people don't pay attention to their paychecks. I realized right away because I monitor all my retirement contributions, deductions, etc. and have a spreadsheet of exactly how I think my paystub will break down.

It's kinda stingy on the part of the company, although I understand strict budgeting.  Like those years with 27 pay days.  My company just paid us normally, so we basically got a ~4% bonus that year.  But some companies will recalculate each paycheck.

No, it's not the same. Regardless of whether any given year happens to contain 26 or 27 paydays, in every case you're still being paid for 2 weeks of work. You're salary rate for 2 weeks of work has not changed in the 27 payday years, it just happens that in the 27-payday year you're also receiving a paycheck for work you did mostly in the previous year. If your company recalculated your rate for 27-payday years they'd be cheating you.

By contrast in a leap year your 2-week salary rate *has* actually changed, because the year is longer so your annual salary is divided by 26.14 instead of 26.07 two-week periods. I agree it's pretty stingy though. An extra $260 per employee per 4-year-period is not exactly going to break the bank.

You are framing it as a "2 week salary" but most people I know are paid at an annual rate.  Totally depends on the wording of your contract, but as an example if I'm paid $52k per year at $2k per paycheck, in 2016 I get $52k, 2017 has 27 paydays so I get $54k, then in 2018 I get $52k.  Therefore, the annual salary rate *has* actually changed.

If you're an hourly employee, you'd get paid more on a leap year because you will have worked an extra 8 hours.  I really doubt many people have a true biweekly salary agreement, but if they did then recalculating the amounts based on leap years wouldn't just by stingy, it would be illegal.

My company posts salaries for exempt workers as " x amount per 2 week pay period", not "x amount per year".  I thought this was normal.

sherr

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Re: Mustachian People Problems (just for fun)
« Reply #6228 on: April 22, 2019, 07:21:04 AM »
« Last Edit: April 23, 2019, 09:17:11 AM by sherr »

sherr

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Re: Mustachian People Problems (just for fun)
« Reply #6229 on: April 22, 2019, 07:29:56 AM »
My company posts salaries for exempt workers as " x amount per 2 week pay period", not "x amount per year".  I thought this was normal.

I'd never heard of that before, but situation is exactly the same as the "per day pay rate * number of days worked" situation, with the exception that you actually get a little more money on a leap year. So your company is slightly more generous than I think most others are.

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Re: Mustachian People Problems (just for fun)
« Reply #6230 on: April 22, 2019, 08:20:27 AM »
My MMP, now that I am retired I need to find a new day to grocery shop. I was a Saturday morning shopper, but NOT ANY MORE!

Last week, I tried Monday morning, the crowds were low, but it looks like they were still stocking from the weekend rush, so several of my on sale things were out of stock (no rain checks).  This could be because of the weekend before a holiday or just general post weekend restocking. 

This week I am trying for Wednesday morning. 

What a hard life I lead. :)

Loren

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Re: Mustachian People Problems (just for fun)
« Reply #6231 on: April 22, 2019, 05:53:25 PM »
I need to find a new day to grocery shop.

Oo! Try every different day until you find the one where they mark stuff down!

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Re: Mustachian People Problems (just for fun)
« Reply #6232 on: April 22, 2019, 06:22:10 PM »
On behalf of employed people everywhere, THANK YOU for not shopping on the weekend anymore!!!

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Re: Mustachian People Problems (just for fun)
« Reply #6233 on: April 22, 2019, 07:36:52 PM »
A 365 day year is 52 weeks and 1 day.
A 366 day year is 52 weeks and 2 days.

A 365 day year with a 5-day workweek can have 260 or 261 workdays.
A 366 day year with a 5-day workweek can have 261 or 262 workdays.

(Forgive me if that's not perfect.  I didn't build an Excel model on each of the 14 scenarios...)

We are on a two-week pay cycle.  Each Friday we are paid for the previous two calendar weeks.  My annual salary has been divided by a standard 2,080 work hours in a year to yield an hourly rate, and I'm basically paid for 80 hours each pay period.  In the 27 pay period year, I think this means I'm making out like a bandit...

OtherJen

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Re: Mustachian People Problems (just for fun)
« Reply #6234 on: April 22, 2019, 09:04:28 PM »
We just paid off the last of a car loan. We have a low debt-income ratio and excellent credit scores. Therefore...

Literally 2 days after paying off the auto loan, I started receiving daily mailers from the credit union offering me ridiculous loans for a new car. Because of course once the car is paid off, it must be worthless and I will certainly want to replace it immediately. /s

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #6235 on: April 22, 2019, 10:59:39 PM »

No, this is still wrong.

Nothing I said was wrong.  If you still think so, I'm curious what specific thing I said you disagree with.

Quote

What it actually is is a per-day salary rate

No, it's really not.  Unless you are a day laborer.  As mentioned, most people have contracts on an hourly or annual basis.  Not everyone, but most.

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In 27-payday years your first check is almost exclusively money that you earned in the previous year, it just hasn't shown up in your checking account yet. Your annual salary rate is still constant, even though the boundary conditions are weird and it looks like you made more money in the 27-payday year than you did in the 26-payday year.

I get what you are saying here, but the fact is that employers who pay annual salaries on a biweekly basis divide the annual salary by 26 in a typical year.  So if you have a constant $26k salary:

Year 1: 26 payments of $1k = $26k
Year 2: 26 payments of $1k = $26k
Year 3: 26 payments of $1k = $26k
Year 4: 26 payments of $1k = $26k
Year 5: 26 payments of $1k = $26k
Year 6: 26 payments of $1k = $26k
Year 7: 26 payments of $1k = $26k
Year 8: 26 payments of $1k = $26k
Year 9: 26 payments of $1k = $26k
Year 10: 26 payments of $1k = $26k
Year 11: Oops, this one has 27 payments of $1k = $27k

Now, yes you can argue that in this case technically your annual salary is (26*10+27)/11 = $26,090.91 because that's the average amount you will receive over 11 years.  But that's frankly silly when you were offered a job at $26k annually.  If on the 11th year the employer chose to only pay you $26k, they would not run afoul of labor laws or contract law because, as mentioned, you were offered a job at $26k annually.

And hey, here's at leat one lawyer that agrees with me: https://content.next.westlaw.com/Document/Id67cf880962811e498db8b09b4f043e0/View/FullText.html?contextData=(sc.Default)&transitionType=Default&firstPage=true&bhcp=1

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If the employer stated that compensation would be based on an annual salary, the second option should not offend either the FLSA or any state wage payment statute. But if the employee was informed that they would be paid on a weekly or bi-weekly basis only, the employer may be stuck with the first option. However, typically, while employees may be told a weekly or bi-weekly amount to expect, that number is based on what they understand is their annual salary.
« Last Edit: April 22, 2019, 11:03:34 PM by dragoncar »

Sugaree

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Re: Mustachian People Problems (just for fun)
« Reply #6236 on: April 23, 2019, 04:46:26 AM »
We just paid off the last of a car loan. We have a low debt-income ratio and excellent credit scores. Therefore...

Literally 2 days after paying off the auto loan, I started receiving daily mailers from the credit union offering me ridiculous loans for a new car. Because of course once the car is paid off, it must be worthless and I will certainly want to replace it immediately. /s


Ugh.  I hate that.  I got a letter from the dealership I bought mine from 5 years ago letting me know that I could "upgrade" to a 2018 or 2019 model.  The problem?  The car they want me to upgrade was totaled in a wreck in November.  They know this because I went back to them and asked if they knew how to find one exactly like it and they told me I was on my own looking for that unicorn (I found one a few weeks later.  The salesguy said I paid too much, which is probably true, but it only had 12k miles on it and it was exactly what I wanted.)

Zaga

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Re: Mustachian People Problems (just for fun)
« Reply #6237 on: April 23, 2019, 05:13:00 AM »
I bought my car in cash, so I was very confused when I got a call from the dealership a year or 2 later saying they could get me in a new car and keep my payment the same.  Um, did you not look at my file?  I don't have a payment, dumbass.

LennStar

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Re: Mustachian People Problems (just for fun)
« Reply #6238 on: April 23, 2019, 07:06:15 AM »
I bought my car in cash, so I was very confused when I got a call from the dealership a year or 2 later saying they could get me in a new car and keep my payment the same.  Um, did you not look at my file?  I don't have a payment, dumbass.
I would have taken that deal. A new car for nothing? Sell the "old" one? Any time!


But more serious: Wow! How bad must the normal payments be that even with the depreciation fo the first 2 years, they still make a profit with that??

RWD

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Re: Mustachian People Problems (just for fun)
« Reply #6239 on: April 23, 2019, 07:16:56 AM »
But more serious: Wow! How bad must the normal payments be that even with the depreciation fo the first 2 years, they still make a profit with that??

Because they only keep the payment amount the same. The number of payments will increase to cover the difference in cost between the two cars.

penguintroopers

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Re: Mustachian People Problems (just for fun)
« Reply #6240 on: April 23, 2019, 07:26:40 AM »
We just paid off the last of a car loan. We have a low debt-income ratio and excellent credit scores. Therefore...

Literally 2 days after paying off the auto loan, I started receiving daily mailers from the credit union offering me ridiculous loans for a new car. Because of course once the car is paid off, it must be worthless and I will certainly want to replace it immediately. /s


Ugh.  I hate that.  I got a letter from the dealership I bought mine from 5 years ago letting me know that I could "upgrade" to a 2018 or 2019 model.  The problem?  The car they want me to upgrade was totaled in a wreck in November.  They know this because I went back to them and asked if they knew how to find one exactly like it and they told me I was on my own looking for that unicorn (I found one a few weeks later.  The salesguy said I paid too much, which is probably true, but it only had 12k miles on it and it was exactly what I wanted.)

Ditto. Totaled in September, best car we ever had. Flyer: Hey, you haven't gotten an oil change on [car] in a while... you want to buy a new 2019 [SUV]?!

Uhm, no. If I still had the car, I'd just take the oil change please. Thanks.

Loren Ver

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Re: Mustachian People Problems (just for fun)
« Reply #6241 on: April 23, 2019, 07:57:02 AM »
On behalf of employed people everywhere, THANK YOU for not shopping on the weekend anymore!!!

That was my true reason for changing days, to help out the busy workers that have no choice :).

LV

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Re: Mustachian People Problems (just for fun)
« Reply #6242 on: April 23, 2019, 08:22:43 AM »
« Last Edit: April 23, 2019, 09:16:27 AM by sherr »

sherr

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Re: Mustachian People Problems (just for fun)
« Reply #6243 on: April 23, 2019, 09:00:53 AM »
And hey, here's at leat one lawyer that agrees with me: https://content.next.westlaw.com/Document/Id67cf880962811e498db8b09b4f043e0/View/FullText.html?contextData=(sc.Default)&transitionType=Default&firstPage=true&bhcp=1

Quote
If the employer stated that compensation would be based on an annual salary, the second option should not offend either the FLSA or any state wage payment statute. But if the employee was informed that they would be paid on a weekly or bi-weekly basis only, the employer may be stuck with the first option. However, typically, while employees may be told a weekly or bi-weekly amount to expect, that number is based on what they understand is their annual salary.

I will amend my previous response by pointing out that this guy is assuming that companies are doing what you claim they are doing; dividing annual salary by 26.

Quote
For salaried employees, their salary is ordinarily divided by either 52 or 26 paydays and W-2 income for employees for the year will be their stated salary.

If that is how you are getting paid, then yes it makes perfect sense to divide by 27 on 27-payday years and everything you said was correct.

My contention is that is not how it works anywhere I have seen. What I have seen is that your annual salary is divided by the number of days (or more accurately, the number of work-hours in a year assuming 40 hours per week) and then your paycheck is the number of days (or work-hours) that you have worked in the pay period. In that case they cannot reduce your paycheck in 27-payday years, as that would result in them never paying out the "extra days" from the previous year.

Edit:
Well I'll be darned. I just checked and my paycheck is my annual salary / 26. I must just be wrong. Okay, objection withdrawn. You are right and I'll go back and delete my other posts to avoid confusing people.
« Last Edit: April 23, 2019, 09:15:16 AM by sherr »

RWD

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Re: Mustachian People Problems (just for fun)
« Reply #6244 on: April 23, 2019, 09:05:53 AM »
Your example is wrong because you didn't bother to calculate it. If your annual salary is exactly $26k, then each two-week paycheck would be for $997.26, not an even $1k.
I am paid biweekly and my employer pays exactly the annual salary divided by 26.

zygote

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Re: Mustachian People Problems (just for fun)
« Reply #6245 on: April 23, 2019, 10:30:09 AM »
See? This is why biweekly salary is confusing and silly for workers with an annual salary.* The number if work hours is never going to be exactly the same due to weekends, Leap Years, etc, and the fact that there aren't an even number of weeks in a year means that the paycycle will be off sometimes. Different companies are going to deal with all these problems different ways and none of them make much sense, even if you do technically get all the pay you're owed eventually.

The whole point of being salaried and exempt from overtime is not have to worry about time worked down to this level of detail.

*I can definitely see the benefits of keeping the paycycle an even number of days for hourly workers, though.


K-ice

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Re: Mustachian People Problems (just for fun)
« Reply #6246 on: April 23, 2019, 03:13:14 PM »
I try to be frugal and Mustachian but when things go to SHIT are you ever tempted to just throw money at it to solve it?

In the past month we have had a major home repair, our 9y old car may be dead (or at least the engine), and a few other unusual expenses.

This isn't really a set of "just for fun" problems but we could say "shut up and take my money" throw about 6-9 months of savings at this and be done with it. (OK maybe even more depending on how the car plays out.)

I feel this is a "problem" because we are tired of optimizing the best solution with the house and now the car thing hit us. If we didn't have savings and the ability to borrow good credit (HELOC) we'd be screwed &/or more incline to flex our frugal muscle. The problem is I have a good chunk money sitting there, & I'm so friggen frustrated I don't want to flex my muscle. 

We luckily (or unluckily) hadn't thrown a bunch of savings over the wall into tax advantaged account until we see what we owe in taxes. If the money was over the wall I probably wouldn't touch it & may need to find other solutions. (I especially wouldn't touch our RRSPs and maybe not even our TFSA).

When you have enough money do you want to say "F-it I can fix this."?

SwordGuy

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Re: Mustachian People Problems (just for fun)
« Reply #6247 on: April 23, 2019, 03:17:49 PM »
I try to be frugal and Mustachian but when things go to SHIT are you ever tempted to just throw money at it to solve it?

In the past month we have had a major home repair, our 9y old car may be dead (or at least the engine), and a few other unusual expenses.

This isn't really a set of "just for fun" problems but we could say "shut up and take my money" throw about 6-9 months of savings at this and be done with it. (OK maybe even more depending on how the car plays out.)

I feel this is a "problem" because we are tired of optimizing the best solution with the house and now the car thing hit us. If we didn't have savings and the ability to borrow good credit (HELOC) we'd be screwed &/or more incline to flex our frugal muscle. The problem is I have a good chunk money sitting there, & I'm so friggen frustrated I don't want to flex my muscle. 

We luckily (or unluckily) hadn't thrown a bunch of savings over the wall into tax advantaged account until we see what we owe in taxes. If the money was over the wall I probably wouldn't touch it & may need to find other solutions. (I especially wouldn't touch our RRSPs and maybe not even our TFSA).

When you have enough money do you want to say "F-it I can fix this."?


Will this change your FIRE date?

By very much?


Assuming that by the time you get to the old FIRE date some years in the future and you are sick and tired of your job and profession, will you be able to stick it out to your new FIRE date?

The answers to these questions should help you find the right answer.

Linea_Norway

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Re: Mustachian People Problems (just for fun)
« Reply #6248 on: April 24, 2019, 02:36:22 AM »
I try to be frugal and Mustachian but when things go to SHIT are you ever tempted to just throw money at it to solve it?

In the past month we have had a major home repair, our 9y old car may be dead (or at least the engine), and a few other unusual expenses.

This isn't really a set of "just for fun" problems but we could say "shut up and take my money" throw about 6-9 months of savings at this and be done with it. (OK maybe even more depending on how the car plays out.)

I feel this is a "problem" because we are tired of optimizing the best solution with the house and now the car thing hit us. If we didn't have savings and the ability to borrow good credit (HELOC) we'd be screwed &/or more incline to flex our frugal muscle. The problem is I have a good chunk money sitting there, & I'm so friggen frustrated I don't want to flex my muscle. 

We luckily (or unluckily) hadn't thrown a bunch of savings over the wall into tax advantaged account until we see what we owe in taxes. If the money was over the wall I probably wouldn't touch it & may need to find other solutions. (I especially wouldn't touch our RRSPs and maybe not even our TFSA).

When you have enough money do you want to say "F-it I can fix this."?

Yes, throwing money at it, can help many problems in your life. Solving your stress on daily cores by outsourcing and dining out. Replacing old appliances with brand new ones. Replacing an old car with a brand new one.

For us, I try to figure out whether the thing I want to do it based on pure laziness or not. Like hiring someone to clean our house. That would be based on  me being lazy, and therefore not worth it.

When replacing the refrigerator, we buy a new one. I want a big one, not used (unfresh), low energy and low noise. That costs. So it's not cheap. But the amount is still a lot less that what we save monthly, so on my salary, I save 50% less that month.

A new car on the other hand is different. We bought a brand new car twice. I think we could have lived for a year or more on the money that those new cars cost (Cars in Norway are ridiculously expensive). In retrospect, I would rather have retired earlier, than driving brand new car. On the other hand, our current car, that we bought brand new, is not 10 years old and still running well. Maybe it was a good choice for a car. Now that we are really approaching FIRE, I have become very reluctant to spend an equal amount on a new car. I think our next car will be one that is a few years old.

When you have an emergency in your life, throwing money at it can be very welcome. That will allow you to do things that other people cannot, it that would lead them into debt. But for each thing, you should decide whether it is really worth delaying your retirement for. And if you already are retired, is it worth going back to work for? Probably not. Maybe giving your time to the project is better than throwing money at it.

Sugaree

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Re: Mustachian People Problems (just for fun)
« Reply #6249 on: April 24, 2019, 05:47:35 AM »
Your example is wrong because you didn't bother to calculate it. If your annual salary is exactly $26k, then each two-week paycheck would be for $997.26, not an even $1k.
I am paid biweekly and my employer pays exactly the annual salary divided by 26.

I'm biweekly and as close I can tell they divide my annual salary by the 2087 work hours in a year and calculate an hourly rate.  Then I'm paid at that rate times 80 hours per pay period.