Borrowing Money From My Daughter

[ArchietheDragon]

May 15, 2015 12:00:52 GMT -5 @rockit said:

First you lose your wit . . . and now you are using loonya math to get yourself out of a financial bind?  Can you see how low you have sunk Dragon-man?

Aren't you an accountant or financial guy, like in charge of payroll and stuff? Next thread will be that you lost your job for using loonya math at work.

The damn kid's fault again. 

[MJ2.0]

May 15, 2015 12:07:32 GMT -5 ArchietheDragon said:

May 15, 2015 12:00:52 GMT -5 @rockit said:

First you lose your wit . . . and now you are using loonya math to get yourself out of a financial bind?  Can you see how low you have sunk Dragon-man?

Aren't you an accountant or financial guy, like in charge of payroll and stuff? Next thread will be that you lost your job for using loonya math at work.

The damn kid's fault again. 

Which is really your fault for helping create them.

[CarolinaKat]

May 15, 2015 12:00:52 GMT -5 @rockit said:

First you lose your wit . . . and now you are using loonya math to get yourself out of a financial bind?  Can you see how low you have sunk Dragon-man?

Aren't you an accountant or financial guy, like in charge of payroll and stuff? Next thread will be that you lost your job for using loonya math at work.

The cobbler's children have no shoes.

[MJ2.0]

May 15, 2015 11:53:46 GMT -5 ArchietheDragon said:

May 15, 2015 11:53:00 GMT -5 CarolinaKat said:

Oh.... She must have a longer maternity than I was guessing...

It will be about 14 months in total. 

Damn!

[Lizard Queen]

Just sell some investments in your taxable account.  Isn't the saying, "go away in May" anyway?

[skubikky]

May 15, 2015 10:47:29 GMT -5 ArchietheDragon said:

......................
4. We are supposed to be giving bonuses at work soon, so I should get a pop there.

I think you left out an "o".

[Regis]

You mean you didn't set up a gofundme account to pay for your vacation?  Poor planning on your part!  

[NancysSummerSip]

May 15, 2015 11:46:31 GMT -5 CarolinaKat said:

May 15, 2015 11:30:46 GMT -5 ArchietheDragon said:

In retrospect, we could have done the vacation cheaper, but even a bigger retrospect is that we should not have sent kid #2 to daycare. Was not worth the price for her to socialize or whatnot.

What were going going to do with her? Stick her in a babycage all day?

I don't want to Google babycage, but I can think of some adults I'd like to put in one of those.

Archie, budgeting isn't so awful; I'm doing it right now, after some emergency medical spending left me with a CC balance. Not a huge amount, but enough to make me lose sleep. I've been five figures in debt (OK, again, not a huge amount, though at the time, it seemed catastrophic). I paid off that five-figure amount in a year, and that was over 10 years ago. I could easily see myself backsliding this time, unless I got hold of myself, got out the pen and paper and made a list and went back to using cash only for awhile. I'm determined this balance will be gone in three months.

[skubikky]

May 15, 2015 11:49:51 GMT -5 ArchietheDragon said:

May 15, 2015 11:45:16 GMT -5 @rockit said:

So, even though you have wiped out your EF and are contemplating stealing from your child, you continue with unrepentant spending? 

I am almost as disturbed that you elected to take a vacation when you knew you were out of money as I am over taking the kids money. 

You and your wife need to get serious.
- Put yourselves on a "no spend" month immediately and only buy the absolutely necessary groceries.
- Eat from the pantry & frEEzer first.
- Sell stuff that is not in use (yeah, get your a$$ on the Dave Ramsey plan)
- Can your wife get an adult paper route? They run in the very early hours, so she could be done before you head out to work. These are the routes where you pick up the papers & deliver them to carrier pick up points (not the house delivery routes)
- Can your wife free-lance any work; or tutor students in the evening?

Write down every penny being spent every day in a calendar/planner. You must have had some serious money leaks to run out of funds 4 months earlier than expected.

Self flagellation is appropriate here. Your ethical barometer appears to be in serious disrepair! 

My ethical barometer has never been in repair.   I really, really, don't want to have to start budgeting.   I see nothing good coming from that.   If I have to, I will, but I don't think I am there yet.  My thought is that this is just temporary.  By my back of the napkin calculation we should go from cash flow negative $1500 a month to cash flow positive $1000 a month when she starts getting paid (whenever that is).  If we do, we should be ok.  If not, that is when I need to go into serious mode.  I really don't want to go to serious mode. 

Arch ....Rockit has managed to use many of the verbs, adjectives, and nouns that always come to mind when I think of you.
Phenomenal..... some serious spewing of water through the nose when I read this post.    Awesome.

P.S. You and your DW figure out what's caused 3 kids yet?  Just wonderin ....

[Deleted]

May 15, 2015 13:09:35 GMT -5 NancysSummerSip said:

May 15, 2015 11:46:31 GMT -5 CarolinaKat said:

What were going going to do with her? Stick her in a babycage all day?

I don't want to Google babycage, but I can think of some adults I'd like to put in one of those.

Archie, budgeting isn't so awful; I'm doing it right now, after some emergency medical spending left me with a CC balance. Not a huge amount, but enough to make me lose sleep. I've been five figures in debt (OK, again, not a huge amount, though at the time, it seemed catastrophic). I paid off that five-figure amount in a year, and that was over 10 years ago. I could easily see myself backsliding this time, unless I got hold of myself, got out the pen and paper and made a list and went back to using cash only for awhile. I'm determined this balance will be gone in three months.

I think budgeting is freeing.

[ArchietheDragon]

May 15, 2015 13:17:43 GMT -5 minnesotapaintlady said:

May 15, 2015 13:09:35 GMT -5 NancysSummerSip said:

I don't want to Google babycage, but I can think of some adults I'd like to put in one of those.

Archie, budgeting isn't so awful; I'm doing it right now, after some emergency medical spending left me with a CC balance. Not a huge amount, but enough to make me lose sleep. I've been five figures in debt (OK, again, not a huge amount, though at the time, it seemed catastrophic). I paid off that five-figure amount in a year, and that was over 10 years ago. I could easily see myself backsliding this time, unless I got hold of myself, got out the pen and paper and made a list and went back to using cash only for awhile. I'm determined this balance will be gone in three months.

I think budgeting is freeing.

If it was just me... maybe.   Budgeting with my wife would not be freeing. 

[Robert not Bobby]

May 15, 2015 9:42:53 GMT -5 ArchietheDragon said:

I feel like tloonya.  Next month I will probably have to borrow money from my daughter to pay the bills.   We had a lager than normal credit card expense in April due to going on vacation (which in retrospect, probably was not the wisest idea) which will wipe our savings account  down to $600.    We have been running a negative monthly cash flow of about $1500 (not counting the vacation, so next month I don't think we will have the cash to cover it.   I don't want to sell investments.  I already stopped our ROTH contributions, but don't want to stop my 401k contribution.  At least my daughter has about $2500 that I can borrow and the other kids have another $1500 or so if we need it.    

My wife said she starts getting paid again starting in July.  I really hope that is true.      

Kids suck. 

Archie, kids don't suck and you know that. They are part of the reason we are here.

You seem like a sensible guy...live within your means.

[Lizard Queen]

Who doesn't need to budget?  People who have a shit ton of money left at the end of the month pretty much every month.  Who needs to budget?  People who are spending more than they make or most of what they make, or people who want to maximize their savings.  

[NancysSummerSip]

May 15, 2015 13:19:40 GMT -5 ArchietheDragon said:

May 15, 2015 13:17:43 GMT -5 minnesotapaintlady said:

I think budgeting is freeing.

If it was just me... maybe.   Budgeting with my wife would not be freeing. 

Being broke is freeing?

Worrying about paying bills is freeing?

I think MPL has a good point. It may suck to have to budget for either the short or long-term, but it beats the heck out of the alternative.

[ArchietheDragon]

May 15, 2015 13:24:47 GMT -5 NancysSummerSip said:

May 15, 2015 13:19:40 GMT -5 ArchietheDragon said:

If it was just me... maybe.   Budgeting with my wife would not be freeing. 

Being broke is freeing?

Worrying about paying bills is freeing?

I think MPL has a good point. It may suck to have to budget for either the short or long-term, but it beats the heck out of the alternative.

If we are still broke in December it will suck.

[ArchietheDragon]

Also, we were going to redo the deck this spring/summer but we put that off at least another year. We ARE sacrificing.

[Robert not Bobby]

For all you folks who budget, and don't we all, this is a great forum...the guy retired at 30? Yeah, I know it sounds bizarre, but it is simple:

forum.mrmoneymustache.com/

[Deleted]

We are familiar with mr m.

[CarolinaKat]

May 15, 2015 13:09:35 GMT -5 NancysSummerSip said:

May 15, 2015 11:46:31 GMT -5 CarolinaKat said:

What were going going to do with her? Stick her in a babycage all day?

I don't want to Google babycage, but I can think of some adults I'd like to put in one of those.

Archie, budgeting isn't so awful; I'm doing it right now, after some emergency medical spending left me with a CC balance. Not a huge amount, but enough to make me lose sleep. I've been five figures in debt (OK, again, not a huge amount, though at the time, it seemed catastrophic). I paid off that five-figure amount in a year, and that was over 10 years ago. I could easily see myself backsliding this time, unless I got hold of myself, got out the pen and paper and made a list and went back to using cash only for awhile. I'm determined this balance will be gone in three months.

    

[ArchietheDragon]

May 15, 2015 13:35:12 GMT -5 @anne81 said:

By my back of the napkin calculation we should go from cash flow negative $1500 a month to cash flow positive $1000 a month when she starts getting paid (whenever that is).

Are you really going to be?  It sounds like you need to be putting away money back into the emergency fund.  Even with the wife working you should be watching you are spending so you can save money, write a will, get life insurance!!

I think we will be.  Yes, we need to be beefing up the EF again, but being cash flow positive will allow us to do that.   

[MJ2.0]

May 15, 2015 13:28:22 GMT -5 ArchietheDragon said:

Also, we were going to redo the deck this spring/summer but we put that off at least another year. We ARE sacrificing.

putting off getting optional work on your home is not sacrificing.

[Deleted]

Am I reading that Archie doesn't have life insurance? 

Raid the rest of those accounts and buy you some. You aren't getting any younger.

[Robert not Bobby]

May 15, 2015 13:30:30 GMT -5 oped said:

We are familiar with mr m.

OK...I should have known.

Sorry. Just throwing it out there.

[muttleynfelix]

May 15, 2015 13:33:14 GMT -5 CarolinaKat said:

May 15, 2015 13:09:35 GMT -5 NancysSummerSip said:

I don't want to Google babycage, but I can think of some adults I'd like to put in one of those.

Archie, budgeting isn't so awful; I'm doing it right now, after some emergency medical spending left me with a CC balance. Not a huge amount, but enough to make me lose sleep. I've been five figures in debt (OK, again, not a huge amount, though at the time, it seemed catastrophic). I paid off that five-figure amount in a year, and that was over 10 years ago. I could easily see myself backsliding this time, unless I got hold of myself, got out the pen and paper and made a list and went back to using cash only for awhile. I'm determined this balance will be gone in three months.

    

I want one of those. Then my kids could cage fight to their hearts content. Actually DD will just growl at DS and he'll back into a corner and whine that JoJo growled at him

[Deleted]

May 15, 2015 13:40:51 GMT -5 oped said:

Am I reading that Archie doesn't have life insurance? 

Raid the rest of those accounts and buy you some. You aren't getting any younger.

We've gone round and round with him on this one.  He's not going to do it.

[yogiii]

May 15, 2015 13:44:20 GMT -5 muttleynfelix said:

May 15, 2015 13:33:14 GMT -5 CarolinaKat said:

    

I want one of those. Then my kids could cage fight to their hearts content. Actually DD will just growl at DS and he'll back into a corner and whine that JoJo growled at him

It's a little creepy how similar that is to my kids, except instead of growling DD runs around with her mouth open as if she's going to bite him (though she never has).

[giramomma]

May 15, 2015 11:50:10 GMT -5 ArchietheDragon said:

May 15, 2015 11:46:31 GMT -5 CarolinaKat said:

What were going going to do with her? Stick her in a babycage all day?

My wife could have watched her. 

We didn't make any alternate arrangements for kids 1 &2 when I was on leave for #3. That summer blew big chunks for the older two. Last summer, we kept the peanut in daycare, and it was nice for the older kids...

[muttleynfelix]

Yogiii - yikes. Our kids are way too similar.

[ArchietheDragon]

May 15, 2015 13:44:30 GMT -5 minnesotapaintlady said:

May 15, 2015 13:40:51 GMT -5 oped said:

Am I reading that Archie doesn't have life insurance? 

Raid the rest of those accounts and buy you some. You aren't getting any younger.

We've gone round and round with him on this one.  He's not going to do it.

It is just such a scam...  and I am not a risky guy. 

[whoisjohngalt]

May be it's bc I don't usually take Archie's posts seriously or may be it's bc I am shocked that YM's children have sooo much money - but I must be the only one who doesn't think that Archie is in any kind of financial trouble