Author Topic: Overheard at Work  (Read 10595643 times)

Just Joe

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Re: Overheard at Work
« Reply #19200 on: November 29, 2017, 12:48:36 PM »
We bought a used car some time ago.

Coworker apparently liked it so they are talking today about buying a new car of a different brand but based on what they liked about our car.

Huh?

And why does it need to be new? They are hard on their cars inside and out. It won't look new within a week.

The logic here is hurting my brain.

Not my circus. Not my circus. Not my circus.
« Last Edit: November 29, 2017, 12:51:04 PM by Just Joe »

Miss Piggy

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Re: Overheard at Work
« Reply #19201 on: December 01, 2017, 06:55:39 AM »
Not my circus. Not my circus. Not my circus.

I was glad to read this at the end of your post. Your slight concern about the situation had me slightly concerned, and I was thinking "Guess whose problem this isn't? Yours." You beat me to it. :)

BuffaloStache

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Re: Overheard at Work
« Reply #19202 on: December 01, 2017, 10:09:18 AM »
We bought a used car some time ago.

Coworker apparently liked it so they are talking today about buying a new car of a different brand but based on what they liked about our car.

Huh?

And why does it need to be new? They are hard on their cars inside and out. It won't look new within a week.

The logic here is hurting my brain.

Not my circus. Not my circus. Not my circus.

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trollwithamustache

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Re: Overheard at Work
« Reply #19203 on: December 01, 2017, 03:56:56 PM »
For those wishing to discuss Net Neutrality, there's a thread in the Off-topic subforum on the subject.
[/size]

But all the millennials at work are talking about right now is Net Neutrality!
:)

shelivesthedream

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Re: Overheard at Work
« Reply #19204 on: December 01, 2017, 04:52:40 PM »
For those wishing to discuss Net Neutrality, there's a thread in the Off-topic subforum on the subject.
[/size]

But all the millennials at work are talking about right now is Net Neutrality!
:)

But all the millennials at my work, home and in my wider social circle are talking about are other things! :)

Just Joe

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Re: Overheard at Work
« Reply #19205 on: December 02, 2017, 02:04:18 PM »
Not my circus. Not my circus. Not my circus.

I was glad to read this at the end of your post. Your slight concern about the situation had me slightly concerned, and I was thinking "Guess whose problem this isn't? Yours." You beat me to it. :)

I work so closely with a small team of people so when a certain coworker does make bad decisions all we get to hear about for weeks or months is the details of their decision or consumer remorse. Thus my selfish concern about this purchase and the possibility that it will sink their family's budget. They make much less money than my family so their choice to emulate anything we do needs to be carefully decided.

The easy solution is to ban certain topics but I'm not in charge of anyone but me. This coworker likes to visit so they start out the day telling me the "news" and then repeat each time another coworker comes into our work area. I make myself scarce if possible to avoid hearing these stories repeat all morning.

Funny thing is I can tell when coworker is mulling a big purchase by the way they open and steer conversations. ;)

Next story from same coworker. Spouse misplaced 2000 dollars recently.

BuffaloStache

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Re: Overheard at Work
« Reply #19206 on: December 02, 2017, 03:20:51 PM »
...
Next story from same coworker. Spouse misplaced 2000 dollars recently.

I understand some people are loose with money... but $2k! That's ridiculous. I hope the spouse used it to buy your CW a very nice holiday gift.

zolotiyeruki

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Re: Overheard at Work
« Reply #19207 on: December 02, 2017, 05:42:16 PM »
...
Next story from same coworker. Spouse misplaced 2000 dollars recently.

I understand some people are loose with money... but $2k! That's ridiculous. I hope the spouse used it to buy your CW a very nice holiday gift.
Sadly, it *can* happen.  I was secretly saving up cash to get something nice (Lasik) for DW.  It was a very discreet hiding spot.  Discreet enough that when she found the container with cash, she assumed it was trash, and threw it away.  That was a disturbing day for us...

ketchup

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Re: Overheard at Work
« Reply #19208 on: December 03, 2017, 06:50:42 AM »
...
Next story from same coworker. Spouse misplaced 2000 dollars recently.

I understand some people are loose with money... but $2k! That's ridiculous. I hope the spouse used it to buy your CW a very nice holiday gift.
Sadly, it *can* happen.  I was secretly saving up cash to get something nice (Lasik) for DW.  It was a very discreet hiding spot.  Discreet enough that when she found the container with cash, she assumed it was trash, and threw it away.  That was a disturbing day for us...
My girlfriend nearly threw away a grocery bag with 4x $500 VGCs in it that I left in our living room... that was at least 60% on me but it was pretty scary.

With This Herring

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Re: Overheard at Work
« Reply #19209 on: December 03, 2017, 07:38:16 PM »
...
Next story from same coworker. Spouse misplaced 2000 dollars recently.

I understand some people are loose with money... but $2k! That's ridiculous. I hope the spouse used it to buy your CW a very nice holiday gift.
Sadly, it *can* happen.  I was secretly saving up cash to get something nice (Lasik) for DW.  It was a very discreet hiding spot.  Discreet enough that when she found the container with cash, she assumed it was trash, and threw it away.  That was a disturbing day for us...
My girlfriend nearly threw away a grocery bag with 4x $500 VGCs in it that I left in our living room... that was at least 60% on me but it was pretty scary.
Ugh, yes.  Years ago, DBF lost most of his paycheck.  Every other time he deposited it (tiny ER didn't offer direct deposit), but this time he cashed it for a wedding gift and for cash on hand for travel to said wedding.  Somewhere on the road it fell out of his pocket.  We never found it.

In more amusing history, my family had a dentist and his wife as friends.  The wife used to get exasperated with her husband because the cash payments he received ended up scattered about their house in his jacket pockets, random bags, etc.  She never knew when she'd find a few thousand dollars in some odd place.

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Re: Overheard at Work
« Reply #19210 on: December 03, 2017, 07:42:38 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

Linea_Norway

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Re: Overheard at Work
« Reply #19211 on: December 04, 2017, 12:34:08 AM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

How much do you put in then?

aceyou

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Re: Overheard at Work
« Reply #19212 on: December 04, 2017, 03:37:41 AM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

Well, he probably is one of the very biggest contributors:)

Davnasty

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Re: Overheard at Work
« Reply #19213 on: December 04, 2017, 08:42:44 AM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

Well, he probably is one of the very biggest contributors:)

Ya, I just assume most people put in enough for the match or less. For someone who is unaware that there are loopholes to get money out before you retire at 65 I would imagine they aren't interested in contributing much to a 401k.

GnomeErcy

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Re: Overheard at Work
« Reply #19214 on: December 04, 2017, 09:18:23 AM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

How does your matching work (if you have any)? Are you leaving money on the table by maxing before your final paycheck of the year (if that's the case) or nah?

Also I assume he doesn't make $200k haha. Most people at my old job only did 4% to get the employer match.

MrMoogle

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Re: Overheard at Work
« Reply #19215 on: December 04, 2017, 11:31:14 AM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.

Goldielocks

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Re: Overheard at Work
« Reply #19216 on: December 04, 2017, 01:47:34 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

This is a little old, but here's my 401k contribution story.  Between 401k and ESOP, our company contributes 10% of our salary (even if you put nothing in), so it's pretty good.  At the beginning of last year, they switched 401k providers.  If you were already contributing to your 401k, they kept your rate alone, but if you were not, they automatically enrolled you into it at 5%. 

They sent out a pamphlet talking about all this, and I read it, since you know, it's about my money.  Then the first paycheck of the year, I made sure my contribution rate was what it was before, and it was. 

6 weeks later, our department head makes a comment in one of our meetings, because he just figured out where his money was going.  He was auto-enrolled, and no one told him!!  We all should check ours to see if we were auto-enrolled too, and to fix it if it wasn't what we wanted.  Then about half the people in the meeting get upset and go set their percentage back to 0 after the meeting.  They both never read the pamphlet or changed to back to 0%.  I'm guessing some of the rest had read it and already changed it.

I'm guessing 9% is above the median here.
Hey,  maybe they are all financially secure and don't need anything more than 10% (or even the company 10% is excessive for them).

i know that I am FIRED now, and if I went back to work, it would be for immediate spending / vacations / car purchases / restaurant money, not for FIRE so I would want it all today.   I actually turned down a job 8 years ago for another one, because the first one had a "forced" 18% contribution rate to a pension that could not be touched until retirement, yet I was almost fully funded for FIRE and needed the salary money in the current year for kid related expenses.

tallen

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Re: Overheard at Work
« Reply #19217 on: December 04, 2017, 02:33:25 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

How much do you put in then?

I set it at 30%

tallen

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Re: Overheard at Work
« Reply #19218 on: December 04, 2017, 02:42:05 PM »
I mentioned to a coworker friday that my paychecks are a lot bigger now that I've maxed out my 401k for the year. He replies by saying "Wow, and thought I put a lot in. I thought I put more in than anyone else here." Impressed, and happy to have another big saver at work I asked him how much he puts in. "9%" I'm still dumbfounded that someone only putting 9% into the 401k can think they are the biggest contributor!

How does your matching work (if you have any)? Are you leaving money on the table by maxing before your final paycheck of the year (if that's the case) or nah?

Also I assume he doesn't make $200k haha. Most people at my old job only did 4% to get the employer match.

Not leaving anything on the table, they match 3% and put it in lump sum sometime during the 1st quarter of the following year. Definitely not making $200k, lol. Our base pay is right around $50k, but it's pretty easy to add another $10-20k of overtime pay to that during the year.

dragoncar

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Re: Overheard at Work
« Reply #19219 on: December 05, 2017, 01:58:49 AM »
I contribute 110% to my 401k, the same amount of effort I put in everyday at work

arebelspy

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Re: Overheard at Work
« Reply #19220 on: December 05, 2017, 11:48:04 AM »
I contribute 110% to my 401k, the same amount of effort I put in everyday at work

Ditto. Only have to remove the two leading ones for me.
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ice_beard

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Re: Overheard at Work
« Reply #19221 on: December 05, 2017, 06:40:02 PM »
A security guard at my workplace was commenting on how she needed overtime hours because she just bought a $682 pair of shoes. 
This comment was made to a co-worker who I know for a fact is good with her money, because she is retiring in a few weeks.  I commented that amount of money was like over 2 months of my grocery bill which is my second highest monthly cost.  The thrifty co-worker one upped me by stating that was more like 5 or 6 months groceries for her. 

$680 is probably about what that girl grosses in a week, maybe more.  I can't imagine.  I won't spend $682 on shoes over the next two years.

RWD

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Re: Overheard at Work
« Reply #19222 on: December 05, 2017, 08:03:01 PM »
I won't spend $682 on shoes over the next two years.

That's more than we (two people) have spent on all our clothes, including shoes, annually. $682 would probably buy me at least a couple decades worth of shoes.

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Re: Overheard at Work
« Reply #19223 on: December 06, 2017, 07:26:46 AM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now.... 

partgypsy

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Re: Overheard at Work
« Reply #19224 on: December 06, 2017, 07:51:46 AM »
I prefer live trees but would be open to getting an artificial pre strung tree, and keeping it for at least 10 years for both the cost but mostly the convenience. But my kids insist on a live tree. Our tradition is to pick it out at a local non-for profit organization, it's around $60. Maybe this weekend. 

TexasRunner

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Re: Overheard at Work
« Reply #19225 on: December 06, 2017, 08:00:15 AM »
So....  someone blasted out a company-wide email this morning.  Text is posted below.
Even worst, they did it from a proxy account, apparently not wanting to put their own name on it (instead it says "Purchasing_Department@company.com"). 

"
If you have not heard of Bitcoin yet, they say it is the money of the future. Internet money. I was given this video to watch and it really opened my eyes to it. Since August my wife and I have gained 175% on our investment. Better then any banking institution can ever give you.
 
Do some research for yourself. At the starting of this year, Bitcoins were $759.64 each, now they are over $12887.01 each. They are expected to rise very quickly.

 
https://youtu.be/7Ua3H9J3ibE
 
https://www.bitcoin.com/
 
Thanks
"

[bolding emphasis the writer's]


Not trying to start a bitcoin / cryptocurrency debate...  but LOL!  Company wide.

Dollar Slice

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Re: Overheard at Work
« Reply #19226 on: December 06, 2017, 08:17:02 AM »
Just hearing the phrase "internet money" makes me want to run away from that 'investment'.

ketchup

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Re: Overheard at Work
« Reply #19227 on: December 06, 2017, 08:50:38 AM »
Just hearing the phrase "internet money" makes me want to run away from that 'investment'.
Yeah, that's a really awful way to try to drum up support for Bitcoin.  And I say that as someone bullish on Bitcoin and excited about the tech behind it.

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Re: Overheard at Work
« Reply #19228 on: December 06, 2017, 08:52:51 AM »
So....  someone blasted out a company-wide email this morning.  Text is posted below.
Even worst, they did it from a proxy account, apparently not wanting to put their own name on it (instead it says "Purchasing_Department@company.com"). 

<snipped for length... basically an investment endorsement>

Not trying to start a bitcoin / cryptocurrency debate...  but LOL!  Company wide.

Where I work, and in many other places as well, people can lose their jobs for spamming the company with a commercial message like that. It's considered a misuse of company resources and it's taken very seriously. It doesn't matter if you're hawking MLM products, the chocolates your kid is selling for his sport team's fund raiser, an investment opportunity, a betting pool, a hot new penny stock, or a timeshare offer. An E-mail like this is a blatant attempt to drive the price of bitcoins up for speculative purposes. The fact it was sent from a proxy account is evidence the person who sent it knew it was wrong to use the computer system that way, obviously. If I worked at that company I'd have the IT department track down the originator of that E-mail and start disciplinary proceedings.

ketchup

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Re: Overheard at Work
« Reply #19229 on: December 06, 2017, 09:00:27 AM »
If I worked at that company I'd have the IT department track down the originator of that E-mail and start disciplinary proceedings.
As half of an IT department, I would love be in charge of hunting them down.  It probably wouldn't be hard.

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Re: Overheard at Work
« Reply #19230 on: December 06, 2017, 10:23:16 AM »
Just hearing the phrase "internet money" makes me want to run away from that 'investment'.
Yeah, that's a really awful way to try to drum up support for Bitcoin.  And I say that as someone bullish on Bitcoin and excited about the tech behind it.

It sounds like the sort of thing you'd say if you were trying to scam a little old lady into buying Bitcoins for all her grandkids for Christmas. (And then the "Bitcoins" turn out to be gift cards to BlTCOlN.com or something.)

TexasRunner

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Re: Overheard at Work
« Reply #19231 on: December 06, 2017, 10:37:54 AM »
Ya, there were several follow up emails about internet policy, "things you need to know before investing in bitcoin" and the proxy email account guidelines.  I'm betting the person gets a pretty strict talking to but probably not terminable.

As a mustachian and investor, I get the idea behind bitcoin and diversification into new markets (albeit entering them conservatively), but this was just really really bad phrasing and method of sending it out.

It probably wouldn't have been a big deal at all if (1) they had asked first and (2) they had made the email an invite to a lunch-and-learn or something similar and less like a spam-bot.  lol

Either way, goes to show how imbalanced (not sure if thats quite the right word) people are about investing, and the fact that I'm probably one of three people here who has anything even closely resembling an investment strategy.

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Re: Overheard at Work
« Reply #19232 on: December 06, 2017, 01:14:08 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

RidetheRain

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Re: Overheard at Work
« Reply #19233 on: December 06, 2017, 01:49:00 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

My tree is $65 and I'm really excited for a long distance move that will justify tossing it and getting a fresh $65 tree!

MgoSam

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Re: Overheard at Work
« Reply #19234 on: December 06, 2017, 02:46:01 PM »
Coworker I know is very much in debt and just did Financial Peace University this year....Bought a new 7.5' Christmas tree at Costco ($289) because she had a $120 rebate check to spend so it made it the same price as other not at nice trees not at Costco.  Her old tree was "shedding" and the light strands didn't all work. This one has both white and LED lights.  Sigh.  I love her, but the math does not add up. She's in IT, I'm in accounting.  I just listen vs. recommend now.  She's doing so much better in a lot of areas. We have a 12 year old tree from Costco that is missing lights in 2 spots.  She knew I was looking at trees too.  I will be buying my next tree AFTER Christmas, but I've been saying that for 2 years now....
I paid $99 for my fake tree in 1994.  Every year, it sheds.  Every year, I think this is the last year. 

Still going strong.  No lights on it or anything.

My tree is $65 and I'm really excited for a long distance move that will justify tossing it and getting a fresh $65 tree!

I don't care for a tree in my house but I did enjoy setting up the fake tree we had each year with my siblings. My mom would just buy a tree every few years after Christmas.  I know shocking......., I bet no one on MMM ever thought to do that ;-).

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Re: Overheard at Work
« Reply #19235 on: December 06, 2017, 04:32:31 PM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program. 

RidetheRain

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Re: Overheard at Work
« Reply #19236 on: December 06, 2017, 05:47:27 PM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

Ouch. That hurts. I had a friend say something similar and I made a joke that 30-yr mortgages do seem like forever. They definitely looked at me like I was crazy. Apparently, mortgage debt wasn't the kind of debt they were thinking about... oops...

Linea_Norway

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Re: Overheard at Work
« Reply #19237 on: December 08, 2017, 01:18:12 AM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

This sounds like a very good advise, to get her started somewhere.

But let's hope she prioritizes paying off her hair-burning debts first.

My DH has read a newspaper article that suggested that our society today is causing people to easily get in a difficult situation. If you start with consumer debt, and of course only pay the minimum amounts, the debt will grow enormously and it might seem impossible for people to come out of it.
There might be something to it. Back in time people didn't have credit cards and wouldn't be granted a loan for buying stuff they don't need. Nowadays those people get encouraged to get credit cards. You even get rewarded for it.

shelivesthedream

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Re: Overheard at Work
« Reply #19238 on: December 08, 2017, 01:33:21 AM »
I drive around a lot for work, and a new worker was shadowing me one day. I usually listen to podcasts, and I happened to be listening to Dave Ramsey that day. So he goes off on his debt-free spiel, and the coworker (who is at least a decade older than me, with a few kids) said "oh no, that's ridiculous. No one can be debt free!" I low key asked her about her investment strategy and she said that she doesn't invest. Not even in the 401k. I felt really bad for her but didn't want to overload her with info so I didn't say too much beyond recommending that she look into the 401k program.

This sounds like a very good advise, to get her started somewhere.

But let's hope she prioritizes paying off her hair-burning debts first.

My DH has read a newspaper article that suggested that our society today is causing people to easily get in a difficult situation. If you start with consumer debt, and of course only pay the minimum amounts, the debt will grow enormously and it might seem impossible for people to come out of it.
There might be something to it. Back in time people didn't have credit cards and wouldn't be granted a loan for buying stuff they don't need. Nowadays those people get encouraged to get credit cards. You even get rewarded for it.

I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

Playing with Fire UK

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Re: Overheard at Work
« Reply #19239 on: December 08, 2017, 02:17:57 AM »
I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

I would strongly support this. Maybe it could look similar to the fridge efficiency traffic-light charts, but instead of a deep red colour, it has a picture of a shark carrying a baseball bat.

Having said that: how messed up are the collective priorities when it is mandatory to have an incredibly intuitive sticker on a fridge, but not the eye-wateringly expensive rent-to-buy agreement to buy the fridge. When Mustachians come to power I will nominate @shelivesthedream as the Minister of Finance.

FrugalByChance

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Re: Overheard at Work
« Reply #19240 on: December 08, 2017, 02:51:14 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,


Linea_Norway

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Re: Overheard at Work
« Reply #19241 on: December 08, 2017, 02:55:47 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Wow! Smart!

Een goede zaak.

shelivesthedream

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Re: Overheard at Work
« Reply #19242 on: December 08, 2017, 03:32:51 AM »
I was talking to my husband about those awful high street rent-to-own furniture places and payday loan shops and how insidious they are, and jokingly wishing that all loans could be given out by real loan sharks who hang around on street corners and break your legs if you don't make your payments because at least then it would feel like you were getting a dodgy and inadvisable loan, rather than just buying furniture or getting a little advance.

I would strongly support this. Maybe it could look similar to the fridge efficiency traffic-light charts, but instead of a deep red colour, it has a picture of a shark carrying a baseball bat.

Having said that: how messed up are the collective priorities when it is mandatory to have an incredibly intuitive sticker on a fridge, but not the eye-wateringly expensive rent-to-buy agreement to buy the fridge. When Mustachians come to power I will nominate @shelivesthedream as the Minister of Finance.

I had a brief but surprisingly successful flutter with politics at university but ultimately decided my heart wasn't in it. It just isn't the best politicians and policies who get elected and I couldn't get on board with all the stuff you have to do that isn't "governing the country better". That said, when we settle down somewhere I might consider standing as a local councillor. But there isn't a party I feel I could affiliate with and it's a lot of personal work to get elected as an independent.

shelivesthedream

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Re: Overheard at Work
« Reply #19243 on: December 08, 2017, 03:34:09 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Whoever designed that logo should get some kind of Mustachian Nobel Personal Finance Prize!

partgypsy

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Re: Overheard at Work
« Reply #19244 on: December 08, 2017, 06:08:21 AM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the corrected- EARLY 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
« Last Edit: January 02, 2018, 11:51:01 AM by partgypsy »

leviticus

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Re: Overheard at Work
« Reply #19245 on: December 08, 2017, 07:14:08 AM »
Finally managed to read the whole thread (it only took a month or so), and honestly I learnt a lot, particularly that my colleagues don't talk about money and the only anti-mustachian thing they seem to do is buy lunch in the work canteen every day.

BuffaloStache

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Re: Overheard at Work
« Reply #19246 on: December 08, 2017, 09:24:30 AM »
In the Netherlands there are rules for ads that involve credit. The requirement is to include the credit warning "Watch out! Borrowing Money Costs Money" (Let op! Geld lenen kost geld) in any credit advertisement, other than those related to mortgages,



Whoever designed that logo should get some kind of Mustachian Nobel Personal Finance Prize!

Brilliant!

Inaya

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Re: Overheard at Work
« Reply #19247 on: December 08, 2017, 12:24:00 PM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
You have to have debt before they'll let you go into debt. When I graduated from college in 2011, with a job, nobody would give me a credit card. Then I bought a pickup truck with an auto loan co-signed by my dad (who has spectacular credit). (Pre-Mustache days, and I sold that truck after a year, but I still miss it.) I had no trouble getting the next credit card I applied for after that auto loan.

Just Joe

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Re: Overheard at Work
« Reply #19248 on: December 08, 2017, 12:37:10 PM »
Coworker is displeased with the MPG of their daily driver SUV.

Coworker lives so close to work that they could walk or bicycle so the miles driven weekly must be low.

Coworker admits the vehicle is otherwise fine and will last many years. Plans to buy something new or newish.

Coworker plans to give the vehicle to the child going away to college who will presumably be driving alot more than coworker and the coworker will still be paying for the fuel it consumes.

That's some fuzzy logic. Don't know why coworker shares this info with me. I never asked. ;)

RyanAtTanagra

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Re: Overheard at Work
« Reply #19249 on: December 08, 2017, 12:39:59 PM »
I do think it is too easy to get credit, and for a lot of people, it means getting in trouble, because the interest compounds. I also worry now that we are in the future losing our safety nets, particularly health care, that it is going to be more and more likely people will end up over their heads. I'm not sure what the solution is.

I still remember in the late 90's, just graduated from college, had a job, had a checking and savings account and I applied for a credit card, and I was turned down! Insufficient credit history. I had to open up a store credit card use it for a few months and apply again before I could qualify. Compared to now students entering college walk past tables with free tshirts and freebies so they will sign up for that credit card.
You have to have debt before they'll let you go into debt. When I graduated from college in 2011, with a job, nobody would give me a credit card. Then I bought a pickup truck with an auto loan co-signed by my dad (who has spectacular credit). (Pre-Mustache days, and I sold that truck after a year, but I still miss it.) I had no trouble getting the next credit card I applied for after that auto loan.

Wonder why both your experiences are so different from mine.  I went to college in 1997, same time partygypsy got out, and I got a bunch of free tshirts.  Had to do a lot of CC cancellations when I ran my credit report for the first time 10 years later.  Had no credit to start with.