Overheard at Work 2

[Askel]

A guy where I work is planning on buying a nice but used $4200 BMW motorcycle, a $500 helmet, a $300 riding jacket and all the safety gear. This week. He doesnt even have his 6 month emergency fund built up fully yet.  Nor does he have a motorcycle license. Nor does he have a true need for the bike. It's a total midlife crisis move to stave off burnout and feeling like he is stuck in a rut. He already has both a pickup and an electric car. Lets not forget the increase in his Geico bill to cover the motorcycle. Facepalm.

I am that guy.

Take it from somebody who was that guy-  motorcycles are just a different kind of rut.  I've purchased several over the years. 

Only vehicle I've ever purchased that got me out of a rut was a really nice bicycle. And it turns out it probably wasn't actually the bicycle itself that did it. 

But please get that license. If you have access to it, the MSF course is both useful and fun.   

[BTDretire]

I purchased a pair in mid 2009, Frigidaires. They were the "base model" high-efficiency front loaders, $1000+tax for the pair, "free" delivery. The base drawer+riser was $150 each. We didn't need it. Around 2016, I saw them on clearance at Lowes for $25 each.
Washer/Dryer have been fine. Washer had a draining issue once, opened it (super easy), took out the offending baby socks, some coins, pins, collar tabs, etc. Been good ever since. Washes and dries well, I don't know what other features I'd need that the newer "Smart" models have.

But, but, but, the newer models play a song when they're done!

That's nice and all, but there are just some things that don't necessarily need to be "smart" (like the smart kitchen faucet...just why?).  My laundry room is semi-detached, so sending an alert to my phone when it's done would be kind of nifty, but I've gone 10 years now just remembering to check on it after 30 or 40 minutes and I've lived.

I set the timer on the stove to remind about the dryer.

[Panly]

Nor does he have a true need for the bike.

I am that guy.

there's always a true need for a bike  :-)

[TVRodriguez]

I purchased a pair in mid 2009, Frigidaires. They were the "base model" high-efficiency front loaders, $1000+tax for the pair, "free" delivery. The base drawer+riser was $150 each. We didn't need it. Around 2016, I saw them on clearance at Lowes for $25 each.
Washer/Dryer have been fine. Washer had a draining issue once, opened it (super easy), took out the offending baby socks, some coins, pins, collar tabs, etc. Been good ever since. Washes and dries well, I don't know what other features I'd need that the newer "Smart" models have.

But, but, but, the newer models play a song when they're done!

That's nice and all, but there are just some things that don't necessarily need to be "smart" (like the smart kitchen faucet...just why?).  My laundry room is semi-detached, so sending an alert to my phone when it's done would be kind of nifty, but I've gone 10 years now just remembering to check on it after 30 or 40 minutes and I've lived.

I set the timer on the stove to remind about the dryer.

I love that kind of simple solution.  Well done.

[ysette9]

My problem was that my old washer would say it had 10 min left on the cycle and then 20min later it would still be finishing up the spin cycle.

[eljefe-speaks]

A guy where I work is planning on buying a nice but used $4200 BMW motorcycle, a $500 helmet, a $300 riding jacket and all the safety gear. This week. He doesnt even have his 6 month emergency fund built up fully yet.  Nor does he have a motorcycle license. Nor does he have a true need for the bike. It's a total midlife crisis move to stave off burnout and feeling like he is stuck in a rut. He already has both a pickup and an electric car. Lets not forget the increase in his Geico bill to cover the motorcycle. Facepalm.

I am that guy.

At least it is only $4200 bucks. You could be as stupid as I am and buy a brand new gixxer! Now THAT is face punch worthy. But I absolutely love that thing. It is my one true indulgence.

Curious what kind of of beamer you're considering.

[jinga nation]

A guy where I work is planning on buying a nice but used $4200 BMW motorcycle, a $500 helmet, a $300 riding jacket and all the safety gear. This week. He doesnt even have his 6 month emergency fund built up fully yet.  Nor does he have a motorcycle license. Nor does he have a true need for the bike. It's a total midlife crisis move to stave off burnout and feeling like he is stuck in a rut. He already has both a pickup and an electric car. Lets not forget the increase in his Geico bill to cover the motorcycle. Facepalm.

I am that guy.

Me too. I want a simple bike like a Yamaha VStar 250, or a Honda Rebel 300.
But need to take the MSF course. May take it this summer in the FL heat.

[hudsoncat]

Sitting with a group of co-workers before a meeting. The rest of the group (there were 4 of us) were discussing having their taxes done and what their plans were for their refund.

CW1: Hudsoncat what are you going to do with your refund?
Me: Oh I don't usually get much of a refund. I keep with holdings pretty close. In fact most years I have to pay a bit.
[chorus of I could never do that! I rely on the refund! Etc]
CW2: In fact I have them take an additional $50 out of my check each pay check to make sure I get a nice refund! I call it my vacation fund.
Me: Have you considered just putting that money directly into your savings account for vacation? Even the most basic savings account would gain a little interest in your favor.
CW2: oh no I don't have the will power to transfer it each month. This way I never see it and am not tempted.
Me: You can set up an automatic transfer. It would come out the same day as direct deposit, you'd still never 'see it' in your account.
CW2: But my checking account and savings are linked, I'd see it!
Me: Why not consider setting up a high yield savings account not with your bank? Shoot, you could even split your direct deposits from work and really never see the money until you logged in!
CW3: That just seems like a lot of work to set up.
CW2: yeah, I think I'll just stick to making sure I get a refund every year.

I bowed out of the conversation at that point knowing CW2 was set on her process. And in the grand scheme of things, she probably isn't missing out on much money by not having it go directly into savings, but the entire conversation did still take me back a bit.

[DadJokes]

Sitting with a group of co-workers before a meeting. The rest of the group (there were 4 of us) were discussing having their taxes done and what their plans were for their refund.

CW1: Hudsoncat what are you going to do with your refund?
Me: Oh I don't usually get much of a refund. I keep with holdings pretty close. In fact most years I have to pay a bit.
[chorus of I could never do that! I rely on the refund! Etc]
CW2: In fact I have them take an additional $50 out of my check each pay check to make sure I get a nice refund! I call it my vacation fund.
Me: Have you considered just putting that money directly into your savings account for vacation? Even the most basic savings account would gain a little interest in your favor.
CW2: oh no I don't have the will power to transfer it each month. This way I never see it and am not tempted.
Me: You can set up an automatic transfer. It would come out the same day as direct deposit, you'd still never 'see it' in your account.
CW2: But my checking account and savings are linked, I'd see it!
Me: Why not consider setting up a high yield savings account not with your bank? Shoot, you could even split your direct deposits from work and really never see the money until you logged in!
CW3: That just seems like a lot of work to set up.
CW2: yeah, I think I'll just stick to making sure I get a refund every year.

I bowed out of the conversation at that point knowing CW2 was set on her process. And in the grand scheme of things, she probably isn't missing out on much money by not having it go directly into savings, but the entire conversation did still take me back a bit.

We often poopoo people for not setting withholding to zero and missing out on that interest, but the interest gained is generally pretty insignificant. The average tax refund is $3k; assuming 2% interest and the fact that 1/12 of that is saved every month, the interest lost is only $28 or so. That's not worth arguing over.

That number came out a lot lower than I was expecting, so my math may be wrong, but I'm running out the door and can't check. Sorry if it's wrong.

[hudsoncat]

We often poopoo people for not setting withholding to zero and missing out on that interest, but the interest gained is generally pretty insignificant. The average tax refund is $3k; assuming 2% interest and the fact that 1/12 of that is saved every month, the interest lost is only $28 or so. That's not worth arguing over.

That number came out a lot lower than I was expecting, so my math may be wrong, but I'm running out the door and can't check. Sorry if it's wrong.

I agree in that sense. It isn't much money to miss out on.But the lack of self discipline was what took me aback. I guess good on her to at least have self awareness and to find a way to force herself to save?

[Davnasty]

We often poopoo people for not setting withholding to zero and missing out on that interest, but the interest gained is generally pretty insignificant. The average tax refund is $3k; assuming 2% interest and the fact that 1/12 of that is saved every month, the interest lost is only $28 or so. That's not worth arguing over.

That number came out a lot lower than I was expecting, so my math may be wrong, but I'm running out the door and can't check. Sorry if it's wrong.

I agree in that sense. It isn't much money to miss out on.But the lack of self discipline was what took me aback. I guess good on her to at least have self awareness and to find a way to force herself to save?

And for actually understanding how tax refunds work. I've spoken to several people who seem to think it's just a magical number that they have no control over.

[ixtap]

We often poopoo people for not setting withholding to zero and missing out on that interest, but the interest gained is generally pretty insignificant. The average tax refund is $3k; assuming 2% interest and the fact that 1/12 of that is saved every month, the interest lost is only $28 or so. That's not worth arguing over.

That number came out a lot lower than I was expecting, so my math may be wrong, but I'm running out the door and can't check. Sorry if it's wrong.

I agree in that sense. It isn't much money to miss out on.But the lack of self discipline was what took me aback. I guess good on her to at least have self awareness and to find a way to force herself to save?

And for actually understanding how tax refunds work. I've spoken to several people who seem to think it's just a magical number that they have no control over.

It seems to be along the lines of "I hate taxes, the government is corrupt, but look at this bonus I get for following the rules!"

[techwiz]

People do think it is free money and that becomes their reason to spend it on something they would not normally buy.  I hear this all the time during tax season "Getting a new TV... taking a vacation.. new video game console... with my refund cheque".  It is ok since the refund cheque is not restricted to any spending budgets or pay off debt schedule.  The tax refund cheque is a great logical loophole to financial responsibility!   

[Imma]

I'm a tax professional and whenever people ask me what I do at a party or something, the first question is 'what are your tips and tricks to give me a bigger tax return?!'. My standard answer of paying more taxes during the year isn't what they are looking for. Even many well educated people have no idea how taxes work. They could if they tried to but they would rather bury their heads in the sand so they can say it's not their fault when they get into trouble.

[Sugaree]

People do think it is free money and that becomes their reason to spend it on something they would not normally buy.  I hear this all the time during tax season "Getting a new TV... taking a vacation.. new video game console... with my refund cheque".  It is ok since the refund cheque is not restricted to any spending budgets or pay off debt schedule.  The tax refund cheque is a great logical loophole to financial responsibility!   

I must be doing it wrong.  While I am getting a substantial refund, it's going towards things like bumping up the sinking fund for the new HVAC unit that I'm going to need sooner rather than later. 

[talltexan]

I think we should admit that setting money aside by complying with Federal law isn't the most efficient way of saving money, but at least it's saving (and not consumption).

[mtn]

We often poopoo people for not setting withholding to zero and missing out on that interest, but the interest gained is generally pretty insignificant. The average tax refund is $3k; assuming 2% interest and the fact that 1/12 of that is saved every month, the interest lost is only $28 or so. That's not worth arguing over.

That number came out a lot lower than I was expecting, so my math may be wrong, but I'm running out the door and can't check. Sorry if it's wrong.

I agree in that sense. It isn't much money to miss out on.But the lack of self discipline was what took me aback. I guess good on her to at least have self awareness and to find a way to force herself to save?

And for actually understanding how tax refunds work. I've spoken to several people who seem to think it's just a magical number that they have no control over.

Eh... For some of us, it is. I have a degree in mathematics, and I've failed to correctly estimate my tax liability for the past 3 years despite ostensibly understanding how it works. Between all the pre/post tax advantaged accounts, student loan interest deduction, different side-gigs producing between 1-4 1099MISCs, not to mention the 3 W2's between my wife and I, we gave up and shoot for a hefty return refund each year. We figured it ended up being a lot less work and a lot less stress to withhold more from each paycheck, then we use the refund to pump it all into savings/debt (IRA, 401k, HSA, Student Loans... whatever the right flavor is each year).

Blah blah, interest free loan. Over the grand scheme of things, it isn't going to impact us much.

Edited because I said "return" when I meant "refund"

[talltexan]

My wife's Roth is a one-time investment (we back-door), but all the rest, 401K, health savings acct., etc., are per pay-check for us.

[Boll weevil]

I'm a tax professional and whenever people ask me what I do at a party or something, the first question is 'what are your tips and tricks to give me a bigger tax return?!'.

The dad answer is to blow it up with a photocopy machine. The greater the percentage, the larger the return. Works for paychecks too.

[Dee18]

While waiting for a committee meeting to begin on campus, a colleague from another department said, “now that the university is freezing the pension, I’ll finally get around to signing up for a 403 account.  I kept meaning to do it.”  Me, “how long have you worked here?”  Him, “15 years.”

[jps]

A colleague walked into my office today and said, "Do you like to make bad decisions?" Not knowing where he was going, I said "absolutely I do," and he showed me photos of a 15 year old Class-A RV that he was about to buy for $21K. Double kicker: it needs $6K of engine work as soon as he buys it.

We chatted about it for a while, and he told me that they needed something to spend their time on after they sold their house boat late last year: "we lost SO much money on that boat." I asked him what kinds of places he was looking to go RV'ing in, and he didn't have an answer. He said things like "well, if we ever drive over to [major metropolitan area 4 hours away], we can just take the RV!" and, "it'll be great to have if we need it!"

Just smile and wave, boys. Smile and wave.

[turketron]

That's nice and all, but there are just some things that don't necessarily need to be "smart" (like the smart kitchen faucet...just why?).  My laundry room is semi-detached, so sending an alert to my phone when it's done would be kind of nifty, but I've gone 10 years now just remembering to check on it after 30 or 40 minutes and I've lived.

I set the timer on the stove to remind about the dryer.

I stuck a NFC tag I had laying around to my washer so now I just scan it with my phone and it automatically starts a timer for 40 minutes

[Gus]

While waiting for a committee meeting to begin on campus, a colleague from another department said, “now that the university is freezing the pension, I’ll finally get around to signing up for a 403 account.  I kept meaning to do it.”  Me, “how long have you worked here?”  Him, “15 years.”

This one was truly painful to read.

[Just Joe]

A colleague walked into my office today and said, "Do you like to make bad decisions?" Not knowing where he was going, I said "absolutely I do," and he showed me photos of a 15 year old Class-A RV that he was about to buy for $21K. Double kicker: it needs $6K of engine work as soon as he buys it.

We chatted about it for a while, and he told me that they needed something to spend their time on after they sold their house boat late last year: "we lost SO much money on that boat." I asked him what kinds of places he was looking to go RV'ing in, and he didn't have an answer. He said things like "well, if we ever drive over to [major metropolitan area 4 hours away], we can just take the RV!" and, "it'll be great to have if we need it!"

Just smile and wave, boys. Smile and wave.

Oh parking an RV in a metro area sounds like lots of fun. So does sleeping in parking lots... I'm a fan of incognito van campers though. Much easier to use. Possibly safer if a person did want to sleep in a parking lot.

[OliveFI]

My coworkers and I were discussing the possibility of moving to a LCOL area with our company. I was like, it would be nice to have a lower tax burden and cheaper rent. My coworker was like "you'd just find new ways to spend that money, it doesn't really make a difference." I was like, I would actively try to NOT spend the difference, I do have control over that after all. His was response was just "really?"

I don't think he knows spending is something you can actively control and not just something that happens to you.

[ixtap]

My coworkers and I were discussing the possibility of moving to a LCOL area with our company. I was like, it would be nice to have a lower tax burden and cheaper rent. My coworker was like "you'd just find new ways to spend that money, it doesn't really make a difference." I was like, I would actively try to NOT spend the difference, I do have control over that after all. His was response was just "really?"

I don't think he knows spending is something you can actively control and not just something that happens to you.

My parents are really rather frugal, but even my Mom always told me that expenses would find a way to meet your paycheck. Maybe she meant it as warning, but she stated it as a fact. Luckily, I had reached a decent level of satisfaction just before I met DH. Everything he contributed when he moved in with me went straight to savings.

[ysette9]

My coworkers and I were discussing the possibility of moving to a LCOL area with our company. I was like, it would be nice to have a lower tax burden and cheaper rent. My coworker was like "you'd just find new ways to spend that money, it doesn't really make a difference." I was like, I would actively try to NOT spend the difference, I do have control over that after all. His was response was just "really?"

I don't think he knows spending is something you can actively control and not just something that happens to you.

Sounds like the type of person who would accidentally find themselves pregnant and not know how it happened.

[jps]

My coworkers and I were discussing the possibility of moving to a LCOL area with our company. I was like, it would be nice to have a lower tax burden and cheaper rent. My coworker was like "you'd just find new ways to spend that money, it doesn't really make a difference." I was like, I would actively try to NOT spend the difference, I do have control over that after all. His was response was just "really?"

I don't think he knows spending is something you can actively control and not just something that happens to you.

My parents are really rather frugal, but even my Mom always told me that expenses would find a way to meet your paycheck. Maybe she meant it as warning, but she stated it as a fact. Luckily, I had reached a decent level of satisfaction just before I met DH. Everything he contributed when he moved in with me went straight to savings.

This would happen to me if I weren't mustachian, for sure. DW and I talk about how possessions are liquid, in that however big your house is, that's how much stuff you will usually grow to accumulate. I could see the same thing happening with expenses if you weren't privy to fighting the instinct to be a consuma sucka!

[Dicey]

A guy where I work is planning on buying a nice but used $4200 BMW motorcycle, a $500 helmet, a $300 riding jacket and all the safety gear. This week. He doesnt even have his 6 month emergency fund built up fully yet.  Nor does he have a motorcycle license. Nor does he have a true need for the bike. It's a total midlife crisis move to stave off burnout and feeling like he is stuck in a rut. He already has both a pickup and an electric car. Lets not forget the increase in his Geico bill to cover the motorcycle. Facepalm.

I am that guy.

No, you are not. You are not buying a motorcycle, nor the helmet, jacket or all the other stuff. You instead are going to go outside for a nice long walk. Or run, either is acceptable. And then you are going to put all that money into your emergency fund.

Then you are going to sit down and look at your life, recognize that you're not happy, figure out what will make you happy (really happy, not just a bandaid), and then start working on a plan to get you to that point.

Funny, this dude made one other post the same day and nothing since. I'd like to think they listened to your wisdom, @Sibley. That's a much happier possibility than they actually did it, crashed the bike, and can no longer post...

[merula]

I'm a tax professional and whenever people ask me what I do at a party or something, the first question is 'what are your tips and tricks to give me a bigger tax return?!'.

The dad answer is to blow it up with a photocopy machine. The greater the percentage, the larger the return. Works for paychecks too.

I want you to know that I appreciate your humor, pedantry and knowledge of the most misused tax term.

[OtherJen]

My coworkers and I were discussing the possibility of moving to a LCOL area with our company. I was like, it would be nice to have a lower tax burden and cheaper rent. My coworker was like "you'd just find new ways to spend that money, it doesn't really make a difference." I was like, I would actively try to NOT spend the difference, I do have control over that after all. His was response was just "really?"

I don't think he knows spending is something you can actively control and not just something that happens to you.

Sounds like the type of person who would accidentally find themselves pregnant and not know how it happened.

Yep. It amazes me that some people don't seem to realize that they can control various aspects of their lives.

[SunnyDays]

A guy where I work is planning on buying a nice but used $4200 BMW motorcycle, a $500 helmet, a $300 riding jacket and all the safety gear. This week. He doesnt even have his 6 month emergency fund built up fully yet.  Nor does he have a motorcycle license. Nor does he have a true need for the bike. It's a total midlife crisis move to stave off burnout and feeling like he is stuck in a rut. He already has both a pickup and an electric car. Lets not forget the increase in his Geico bill to cover the motorcycle. Facepalm.

I am that guy.

No, you are not. You are not buying a motorcycle, nor the helmet, jacket or all the other stuff. You instead are going to go outside for a nice long walk. Or run, either is acceptable. And then you are going to put all that money into your emergency fund.

Then you are going to sit down and look at your life, recognize that you're not happy, figure out what will make you happy (really happy, not just a bandaid), and then start working on a plan to get you to that point.

Funny, this dude made one other post the same day and nothing since. I'd like to think they listened to your wisdom, @Sibley. That's a much happier possibility than they actually did it, crashed the bike, and can no longer post...

Well, doctors do call them “donorcycles” ........

[AMandM]

Yep. It amazes me that some people don't seem to realize that they can control various aspects of their lives.

I wish I had a dollar for every time I've heard someone say with a shrug, "Well, what can you do" about something they can, in fact, do something about.

[Goldielocks]

I'm a tax professional and whenever people ask me what I do at a party or something, the first question is 'what are your tips and tricks to give me a bigger tax return?!'. My standard answer of paying more taxes during the year isn't what they are looking for. Even many well educated people have no idea how taxes work. They could if they tried to but they would rather bury their heads in the sand so they can say it's not their fault when they get into trouble.

Make less money.
Have kids.

[LennStar]

Yep. It amazes me that some people don't seem to realize that they can control various aspects of their lives.

I wish I had a dollar for every time I've heard someone say with a shrug, "Well, what can you do" about something they can, in fact, do something about.

Yes, they always forget to add "without doing anything".

[spartana]

Nor does he have a true need for the bike.

I am that guy.

there's always a true need for a bike  :-)

What is the right number of motorcycles to own? The number you currently have plus one.

Well I am "that guy" myself...well except for the girl part. Perhaps more like the link upthread @alienbogey postef about the returned rider since I'm a long term rider who gave up the last bike a few years ago because I needed to take my dog on my longgggg camping road trips. The dog has passed and I'm currently car less so am madly lusting for another motorcycle for the road trips like @EndlessJourney . Ugh...must not succumb...but you know I will ;-).

[Just Joe]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

[Aegishjalmur]

Overheard via Text:

Friend: I was doing a balance transfer from one card to two others to get 0% and I hit the button too many times so the balance transferred was actually twice what it should have been. I called all the card companies and they said they can't reverse it at this time so I will have to wait until it is complete to request an overage check. It may turn out to be a good thing though as I will use the check to pay off another card that's leaving the 0% period soon.

Us: *Facepalm*

[sherr]

Overheard via Text:

Friend: I was doing a balance transfer from one card to two others to get 0% and I hit the button too many times so the balance transferred was actually twice what it should have been. I called all the card companies and they said they can't reverse it at this time so I will have to wait until it is complete to request an overage check. It may turn out to be a good thing though as I will use the check to pay off another card that's leaving the 0% period soon.

Us: *Facepalm*

This actually doesn't sound too bad to me. Intentionally credit-card-hacking to give yourself a 0% loan can actually be pretty Mustachian, depending on what you do with the money. More work than I'm willing to put in, but some people here do.

[Aegishjalmur]

it would be one thing if it was on purpose, but this was completely accidental. Then there is the issue that they had to split one card onto two others because of balances, and the implication that they have a fourth card that they will be using to pay off/pay down. This was the same person who told me that they couldn't save $7500 for a down payment for a home when they make over $70K a year(probably closer to $80K). Knowing this person they are not likely making much more than minimum payments so the transfer fees are eating an interest rate savings.

[spartana]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

This sounds vaguely like my ex-BF ;-). 

[TomTX]

Overheard via Text:

Friend: I was doing a balance transfer from one card to two others to get 0% and I hit the button too many times so the balance transferred was actually twice what it should have been. I called all the card companies and they said they can't reverse it at this time so I will have to wait until it is complete to request an overage check. It may turn out to be a good thing though as I will use the check to pay off another card that's leaving the 0% period soon.

Us: *Facepalm*

This actually doesn't sound too bad to me. Intentionally credit-card-hacking to give yourself a 0% loan can actually be pretty Mustachian, depending on what you do with the money. More work than I'm willing to put in, but some people here do.

Usually those 0% loans come with a 3-5% balance transfer fee.

[alienbogey]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

That could be a good plan, but only if you already have a motorcycle for riding.

[spartana]

Overheard via Text:

Friend: I was doing a balance transfer from one card to two others to get 0% and I hit the button too many times so the balance transferred was actually twice what it should have been. I called all the card companies and they said they can't reverse it at this time so I will have to wait until it is complete to request an overage check. It may turn out to be a good thing though as I will use the check to pay off another card that's leaving the 0% period soon.

Us: *Facepalm*

This actually doesn't sound too bad to me. Intentionally credit-card-hacking to give yourself a 0% loan can actually be pretty Mustachian, depending on what you do with the money. More work than I'm willing to put in, but some people here do.

Usually those 0% loans come with a 3-5% balance transfer fee.

And if you can't pay them off by the due date, or even are late on some other bill by a day, they will jack the interest rate up to 25% or 30%.

[spartana]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

That could be a good plan, but only if you already have a motorcycle for riding.

But but but....that means it'll get dirty and we can't have that now can we. I mean if we are talking clown motorcycles then they must be shiny and bug free ALL the time or how will people know you are so rich ;-).

I use to commute to my job on an old beater motorcycle which was apparently not fancy enough for the fancy Harley guys I worked with. Oh well. I FIREd and could ride whenever I wanted, for as long as I wanted, and they are still taking their 2 week vacation at Sturgis and doing the 9 to 5 the rest of the year with their bikes sitting unused in their garages. But they are shiny!

[Threshkin]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

This sounds vaguely like my ex-BF ;-).

You had a project BF?  :D

[Kris]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

This sounds vaguely like my ex-BF ;-).

You had a project BF?  :D

Ha — many of us have had those... we just didn’t know it for a while! :D

[TVRodriguez]

Buy a "project bike". That way you get all the benefits of having a motorcycle - except the riding it part... You can stand around and admire it, polish it, brag about it, and spend money on it. It won't move under it's own power so it is absolutely safe and no insurance or license is required.

That could be a good plan, but only if you already have a motorcycle for riding.

But but but....that means it'll get dirty and we can't have that now can we. I mean if we are talking clown motorcycles then they must be shiny and bug free ALL the time or how will people know you are so rich ;-).

I use to commute to my job on an old beater motorcycle which was apparently not fancy enough for the fancy Harley guys I worked with. Oh well. I FIREd and could ride whenever I wanted, for as long as I wanted, and they are still taking their 2 week vacation at Sturgis and doing the 9 to 5 the rest of the year with their bikes sitting unused in their garages. But they are shiny!

And Sturgis is fun.  But definitely filled with lots of shiny bikes.  I have no bike but happened to be visiting the Black Hills on a road trip during the Sturgis bike event.  I was there in an old Toyota Camry.

[Wrenchturner]

A couple weeks ago my employer had an investment guy come in and talk to us about basic saving/investing, as well as the company RRSP matching program.  I work at an RV dealership.

It wasn't very informative since it was very general, but I learned some tax stuff.  Anyway, the first slide and first ten minutes were spent talking about how debt is terrible, and the guy called it "cancer" probably six or seven times.  The air got pretty thick in the room for that bit.  He was talking about how car loans, credit card debts and financing too much stuff are terrible for your finances and I found it refreshing to hear this attitude inside the walls of my dealership. 

Not really deriding anyone in this post, as is the tradition for this thread, but it was an interesting moment and I'm glad someone else was finally around to tell me the financial equivalent of "gravity is real", after years of hearing how it isn't.

I hope some of the people in the room learned something and left feeling more empowered in their financial situation.

[LennStar]

It wasn't very informative since it was very general, but I learned some tax stuff.  Anyway, the first slide and first ten minutes were spent talking about how debt is terrible, and the guy called it "cancer" probably six or seven times. 

hm... I somehow had "sound of silence" spring up in my mind. Maybe someone could make a song "Sound of Debt"?
"Debt like a cancer grows
Hear my words so that I might teach you..."