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Post by Deleted on May 8, 2014 20:39:25 GMT -5
The kids are turning in their Ipads today. They've had them for two years. They are getting charged $50 if there is any damage although they have insurance. The insurance turns out to only cover it if it is lost or stolen. Even then, they have 3 days to file a police report. They still have to pay $150 for that.
But basically every Ipad turned in the past two days has some sort of "damage." A scratch is damage. Last year's seniors didn't have to pay for stuff like that so this year's seniors believe it is because they are phasing them out over the next three years in favor of Chrome books.
Anyway, I heard over and over again, "Do you know how many hours it takes me to earn $50 after taxes?" Evidently that is an entire SHIFT!!!
So that made me start thinking about how many hours it takes me to earn stuff. I'll pretend I get paid $30 an hour because I get paid that for Saturday School. My daily rate is better than that.
Groceries = 3 hours. A grandchild's present = 2 hours. A tank of gas = 1 hour.
It is interesting to think like that.
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Post by Deleted on May 8, 2014 20:41:55 GMT -5
That's a main concept of Your Money or Your Life. It was a real mpetus for me when we decided to go the one income route. Might do me good to reread it...
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Post by Deleted on May 8, 2014 20:44:10 GMT -5
I might need to read that. I have never thought like that although I always tied my handyman's salary to what I got for doing stuff like Saturday School.
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raeoflyte
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Post by raeoflyte on May 8, 2014 22:21:22 GMT -5
I remember working in a nice women's clothing retail store in highschool. 6 hours for this shirt, 8 hours for the pants that I loved, 12 hours for a dress. I still remember a bunch of the clothes that I SO wanted to buy but couldn't justify the cost.
I'm still pretty good at reigning in the big spending (although its harder when its stuff for the kids I want to buy), but the little expenses, like a cold soda, or a breakfast burrito never feel like much money but definitely add up at the end of the month.
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busymom
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Post by busymom on May 8, 2014 22:26:15 GMT -5
When DH & I were digging out of credit card debt, that is EXACTLY the system I used to justify every purchase, especially clothing. If I didn't think a new sweater was worth 8 hours at my job, I didn't get it.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on May 8, 2014 22:39:02 GMT -5
I haven't thought that way for a long time because I've been salary for so long. I'll say other things like that is x per month or x% of our monthly budget when talking to my kids about how much stuff costs.
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lazysundays
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Post by lazysundays on May 8, 2014 22:42:39 GMT -5
I think backwards nowadays and that's not good. Eh that takeout was only 15 minutes of my time etc, but I don't have that $ to spend, I have debt to pay off!! That book made me think like that, but it had the opposite effect.
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Post by Deleted on May 8, 2014 22:46:55 GMT -5
That's a main concept of Your Money or Your Life. It was a real mpetus for me when we decided to go the one income route. Might do me good to reread it... I wish someone would re-write the concepts so it isn't such a dry read. I read a chapter or two, but couldn't find the interest to keep going. I usually love reading financial and frugal approach books. Not that one, no matter how many times I try.
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cronewitch
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Post by cronewitch on May 9, 2014 1:58:19 GMT -5
I never did because my job didn't allow me to work an extra hour to earn an extra hour pay. I was pretty much either working 40 hours a week with all the overtime I could handle to get the job done or salaried so I couldn't do 8 hours earns me something.
I figured it made retirement farther away if I spent anything so like a new car meant working one more year. What is hard is when investment income is sometimes a loss so you can lose a year of income in a week. The DOW was up today and I still lost money thousands of dollars, I might make thousands tomorrow so I just spend what I want and try not to think about it. Now if I overspend it will mean poverty in old age but not spending means living like I have poverty now.
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truthbound
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Post by truthbound on May 9, 2014 3:59:20 GMT -5
It wouldn't wouldn't take any. My kids wouldn't have iPads to break.
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Post by Deleted on May 9, 2014 5:39:08 GMT -5
The school handed out the iPads. I don't think they were optional.
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The Captain
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Post by The Captain on May 9, 2014 6:44:25 GMT -5
I've thought like this since I was a teen. Back when minimum wage was 3.35 I preferred books to going to the movies for entertainment because I got a much better bang for my dollar (still do!)
DH and I are moving. He wants to do all sort of things to the new home. Even when we were looking at/pricing homes I'd tell him "for every $$$" extra that we spend on this house I'll have to work an extra year...
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Post by Deleted on May 9, 2014 7:49:35 GMT -5
I've thought like that for years too. Thinking about how many hours of work an item costs helps me decide if it's worth it to me. Especially since I don't really like work, I have to really value something to trade a lot of hours doing something I don't like for it.
When I'm having a rough day at work, I think about where I am in the pay period. If I'm far enough into it that I've already made enough to cover all the things that come out of my paycheck, I think about how I'm making money for me to spend. That makes my rough day a little more bearable. It doesn't work so well at the beginning of the pay period though.
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alabamagal
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Post by alabamagal on May 9, 2014 8:04:22 GMT -5
That is why it is good for kids to have jobs and earn money, rather than being given money.
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The Captain
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Post by The Captain on May 9, 2014 8:09:10 GMT -5
I shouldn't have done this.
I work 515 hours just to pay my Federal Income Taxes.
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Post by Deleted on May 9, 2014 8:11:22 GMT -5
SS and Medi included?
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The Captain
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Post by The Captain on May 9, 2014 8:12:52 GMT -5
No, (I do taxes for a living - I know the difference between a statutory rate and an effective rate).
Like I said, just Federal Income taxes.
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Post by Deleted on May 9, 2014 8:21:17 GMT -5
Ok. So you worked 64 days in order to pay for roads, libraries, clean air, the military, a safe food supply, federal park lands you can visit in their natural beauty, a democratically elected republic government with checks and balances, an educated, content populous with minimal communicable diseases and unlikely to riot or take up violent crime that make your wealth worthless, meanwhile consuming enough to make your wealth grow...
etc. etc.
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Post by Deleted on May 9, 2014 8:23:35 GMT -5
That's a main concept of Your Money or Your Life. It was a real mpetus for me when we decided to go the one income route. Might do me good to reread it... That book was one of the first personal finance books I read and it really changed how I thought about purchases. I WISH I would have read it before building the McMansion.
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The Captain
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Post by The Captain on May 9, 2014 8:36:52 GMT -5
Ok. So you worked 64 days in order to pray for roads, libraries, clean air, the military, a safe food supply, federal park lands you can visit in their natural beauty, a democratically elected republic government with checks and balances, an educated, content populous with minimal communicable diseases and unlikely to riot or take up violent crime that make your wealth worthless, meanwhile consuming enough to make your wealth grow... etc. etc. Why the snark? I just figured something out and yes, it kinda depressed me. And the thought that I need to work to appease the masses so they don't riot or take my "wealth" I find kinda reprehensible. I'd like to think people are better than that but if that's how you think people are then so be it.
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Post by Deleted on May 9, 2014 8:42:28 GMT -5
We live in a country that has to tell people that coffee is hot or not to text while driving. So, yeah, I don't think people are better than that.
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Post by Deleted on May 9, 2014 8:44:43 GMT -5
You might be reading snark. But i said that with absolutely no snark intended. We have a damn good life, in a pretty awesome system as long as we maintain it.
I always prefer to l look on the positive and what i'm getting and receiving every day, rather than what 'is being taken from me'...
Generally speaking, beyond a clinical definition, to be depressed or not is your own decision. I'll tell you what I tell the kids, If you don't like the outcomes/consequences of your actions/situation, make different choices/do something ... but quit bitching to me about it.
You can't just get rid of what you think of as a 'negative' without severely impacting the 'positive' as well... so I find i'm much happier when I focus on the positive. Find a way of conceptualizing that makes circumstances acceptable, and live life to its fullest.
As for your snark... perhaps some history/sociology/psychology lessons are in order?
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bookkeeper
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Post by bookkeeper on May 9, 2014 8:49:39 GMT -5
I've thought like this since I was a teen. Back when minimum wage was 3.35 I preferred books to going to the movies for entertainment because I got a much better bang for my dollar (still do!) DH and I are moving. He wants to do all sort of things to the new home. Even when we were looking at/pricing homes I'd tell him "for every $$$" extra that we spend on this house I'll have to work an extra year... If you plan to stay in your new home for a good long while, I think it makes sense to do any changes right away. That way you get to enjoy them the longest (more enjoyment for your dollar).
I have fixed up houses so I could sell and get moving on. As I spent the money getting a house ready to sell, I wondered why I didn't do this sooner so I got to enjoy the upgrade.
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bookkeeper
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Post by bookkeeper on May 9, 2014 8:58:13 GMT -5
Younger son had a car accident years back. While in high school, he backed out of the garage with the rear car door open. Folded that sucker right back into the front car door. $4000 damage to the car and messed up the garage door frame. Our deductible was $500 at the time. He turned over his paychecks to me for two months to pay for the insurance deductible.
I warned him the day it happened that the accident had to hurt him bad enough that he would remember not to do it again. It hurt him for two months.
As far as the Ipads, DH has a story about a rental house during his college days. Upon checking out of his rental house the landlord comes through with a list and noted damage to the house that had obviously been there for some time. Of course the damages came out of his deposit. He wondered how many times the landlord had been paid for the same cracked window pane and dented register covers. He always took a bunch of pictures and made a list of defects to accompany a lease after he got taken by the previous landlord.
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The Captain
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Post by The Captain on May 9, 2014 9:20:22 GMT -5
Younger son had a car accident years back. While in high school, he backed out of the garage with the rear car door open. Folded that sucker right back into the front car door. $4000 damage to the car and messed up the garage door frame. Our deductible was $500 at the time. He turned over his paychecks to me for two months to pay for the insurance deductible.
I warned him the day it happened that the accident had to hurt him bad enough that he would remember not to do it again. It hurt him for two months.
As far as the Ipads, DH has a story about a rental house during his college days. Upon checking out of his rental house the landlord comes through with a list and noted damage to the house that had obviously been there for some time. Of course the damages came out of his deposit. He wondered how many times the landlord had been paid for the same cracked window pane and dented register covers. He always took a bunch of pictures and made a list of defects to accompany a lease after he got taken by the previous landlord. Just curious, it was only one deductible (not one for the home and one for the car)? (NOT looking forward to when DD starts to drive)
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busymom
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Post by busymom on May 9, 2014 9:21:45 GMT -5
Every student in our district now gets to "borrow" an iPad for the school year, too. And, the parents have more than one level of insurance to choose from to protect that iPad. I paid $30 for the highest level, which would replace the iPad for free once during the school year if it is damaged. The 2nd time it's damaged, you pay some money, but not the full cost of the iPad. As annoying as it is to remember to plug those things in every night, the teachers ARE using them in class, & my own DS is already better at using it than I am...
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busymom
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Post by busymom on May 9, 2014 9:24:37 GMT -5
Captain, we had someone in our area that (we assume was driving drunk) late at night crashed their car into a house, damaging their garage, & both cars inside. That poor family had to come up with 3 deductibles. The driver must not have damaged their own car too badly, because they took off before anyone could get a description of their vehicle.
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bookkeeper
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Post by bookkeeper on May 9, 2014 9:38:47 GMT -5
Younger son had a car accident years back. While in high school, he backed out of the garage with the rear car door open. Folded that sucker right back into the front car door. $4000 damage to the car and messed up the garage door frame. Our deductible was $500 at the time. He turned over his paychecks to me for two months to pay for the insurance deductible.
I warned him the day it happened that the accident had to hurt him bad enough that he would remember not to do it again. It hurt him for two months.
As far as the Ipads, DH has a story about a rental house during his college days. Upon checking out of his rental house the landlord comes through with a list and noted damage to the house that had obviously been there for some time. Of course the damages came out of his deposit. He wondered how many times the landlord had been paid for the same cracked window pane and dented register covers. He always took a bunch of pictures and made a list of defects to accompany a lease after he got taken by the previous landlord. Just curious, it was only one deductible (not one for the home and one for the car)? (NOT looking forward to when DD starts to drive) We paid to fix the garage door ourselves and DS#2 paid the deductible for the car. Many people around here are dropped from their home owner's policy after a claim, so we chose to fork over a couple hundred to fix it ourselves. Our homeowners deductible is $1000. I had already dented the garage door involved in my son's accident in a previous lawnmower incident. We just waited until the door went on sale and we bought another one. A good friend of ours is a contractor and he replaced the trim on the garage opening for beer (I may have given him money, I know I gave him beer!)
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lynnerself
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Post by lynnerself on May 9, 2014 10:06:07 GMT -5
"How many hours did you have to work to pay for it??"
Actually I use this as the counter argument for small things sometimes.
DH will say something like "Your morning coffee is costing us $700 a year" My reply is it takes me the first 10 mins of my day to pay for it, it's worth it.
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Post by The Walk of the Penguin Mich on May 9, 2014 10:20:19 GMT -5
We live in a country that has to tell people that coffee is hot or not to text while driving. So, yeah, I don't think people are better than that. Including informing drivers that rest areas are now text areas! WTF did these pop up in NY? Stooopid!
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