Deleted
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Post by Deleted on Apr 13, 2011 11:03:29 GMT -5
Nope. We were on the honor system and kept a list. Most of them paid us back, but some left the company eventually and never paid us back.
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Deleted
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Post by Deleted on Apr 13, 2011 11:13:13 GMT -5
I just quit my job to take a nonpaid research position, to improve my grade and get into the master's program. My new PI said he was sorry to hear that I quit because now we were living on my fiance's income. LOL, I almost laughed aloud, we already were living on my fiance's income. My income was going towards the wedding costs, which will be paid by the middle of May. It was sweet, though.
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sil
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Post by sil on Apr 13, 2011 11:46:46 GMT -5
..."that's what emergency savings funds are for". He looked at me and said "You actually have one of those??"
LOL - I'd probably say the same thing. Last time I mentioned to someone that I had an EF, I had to post bail for my BIL. Now the only people who know about my EF are DH and you lovely posters.
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Wisconsin Beth
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Post by Wisconsin Beth on Apr 13, 2011 12:18:55 GMT -5
"if you cannot cover a truck payment with your check being 2 days late, maybe you should not have a $700 truck payment" A little OT but I'm shocked at how much people spend on trucks. I had no clue until DH priced out his dream one. BMW's are cheaper. yeah, my dream truck was easily 40K, at least 4 years ago. It's probably more now. I'm not sure I'll ever buy my dream truck but we'll see. It's more likely we'll get another minivan (but not a Dodge Caravan)
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8 Bit WWBG
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Post by 8 Bit WWBG on Apr 13, 2011 12:54:00 GMT -5
I work with someone who claims he cannot make his bills, even with every penny coming in. He's a mid-20s guy and I think he has a 2 year old, possibly with the gf he is currently with. I don't think he has a particularly extravagant lifestyle, I think it is just the realities of having to support a young kid on an entry level salary in a HCOL area. My Mom works with some people who are in a similar situation. Costs have risen while wages haven't, and it is very tough.
ETA: ...:::"A little OT but I'm shocked at how much people spend on trucks. I had no clue until DH priced out his dream one. BMW's are cheaper.":::...
I am so glad this is the case, because if trucks were as cheap as entry level cars, there would be so much more of them on the road.
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busymom
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Post by busymom on Apr 13, 2011 13:02:02 GMT -5
$700 a month truck payment?!? I can't think of ANYTHING available right now that I'd be willing to have a payment that large on. (Maybe an income-producing rental property.)
Life is much easier when you don't have to WAIT for that next paycheck.
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CarolinaKat
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Post by CarolinaKat on Apr 13, 2011 13:03:51 GMT -5
I am so glad this is the case, because if trucks were as cheap as entry level cars, there would be so much more of them on the road. I'm curious as to what you/anyone thinks this is (I'm not trying to be a smarty-pants or anything, just wondering)
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thyme4change
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Post by thyme4change on Apr 13, 2011 13:46:42 GMT -5
Some trucks are as cheap as cars - but not the super big trucks. Tundras, Rangers, Frontiers, etc. - all in the upper teens brand new.
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Post by cytoglycerine on Apr 13, 2011 14:04:46 GMT -5
It is possible the guy has tons of savings and investing, but doesn't use the term "Emergency Fund." It really sounds like something some lame marketing team would think up. I think most people just call it "savings." I lovingly refer to my "emergency savings fund" as my "Oh Sh*t!" money ;D
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Apple
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Post by Apple on Apr 13, 2011 14:25:04 GMT -5
I found out just how poor my coworkers are at managing money when they were talking about a possible government furlough. People were FREAKING out about maybe missing a week's pay. They make good money (I should know, I make the same) and have been making that kind of money for years. But most of them have toys and payments up the wazoo. I was talking to someone and told them I could go at least two months w/o a paycheck and still not be in any kind of trouble. Yes, it would suck that I wouldn't reach my goals in paying for the new house, but I just kind of shrugged my shoulders. Honestly, I could go 4-6 months and be OK, but I wouldn't be happy about it, and that's if I DIDN'T get to collect UE. My ex lived paycheck-to-paycheck after our divorce, but that's because he'd blow it all on alcohol, pot, partying and his gf's drugs. I'm so happy I don't have to.
ETA: There are a few coworkers that are paying unexpected medical expenses, but most don't really have any true "reason" to be so short, they've worked here for years.
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8 Bit WWBG
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Post by 8 Bit WWBG on Apr 13, 2011 15:00:54 GMT -5
...:::"I'm curious as to what you/anyone thinks this is (I'm not trying to be a smarty-pants or anything, just wondering)":::...
When I say "entry level" I'm talking about base model Civic, Toyota, Accent, Sportage, Aveo type cars. The "economy" models offered by most makers that start around $11k, and go up to the high teens when fully loaded.
...:::"but not the super big trucks. Tundras, Rangers, Frontiers, etc. - all in the upper teens brand new":::...
These "weekend warrior" "compensator" type trucks are exactly what I'm thinking about. The ones that stick out of parking spaces even when the driver pulls all the way up to the end, and is centered perfectly. The price is indeed a big barrier, and if these things cost the same as a Camry, I think we would see more of them.
I was terrified when the H3 came out. An H2 is about $65k new, but an H3 was in the mid-30ks. Although still expensive, $35k on a 7 year loan with no money down is much more reachable for the type of people who would buy one than $65k is.
I think it would be neat if Hummer made an "H4" and it was the size of a smart car and got really good gas mileage.
...:::"Yes, it would suck that I wouldn't reach my goals in paying for the new house, but I just kind of shrugged my shoulders....but I wouldn't be happy about it,":::...
This was me. Sure, I "could" afford to go without a paycheck for a month or two... but I am by no means thrilled about draining my hard earned savings because some people who are out of touch with reality want to puff their chests up for their constituents.
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strider
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Post by strider on Apr 13, 2011 15:01:21 GMT -5
While a layoff would suck and furloughs are guaranteed at 8 days this next year at the university, I'll have $10k in the bank when it happens. Not really that worried if I miss a day or two. LCOL area with a higher than average wage does help. I'm amazed how poor people are at saving though.
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on Apr 13, 2011 15:39:35 GMT -5
. . o O ($709 truck payment!?)
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Deleted
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Post by Deleted on Apr 13, 2011 16:09:18 GMT -5
. . o O ($709 truck payment!?) That's about a 48k vehicle with 10% down, 2.9% apr and a 60 month term. Just about what DH's dream truck is.
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thyme4change
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Post by thyme4change on Apr 13, 2011 16:19:09 GMT -5
Oh my g-o-d. Yup, I'm going to have a $700 car payment. That makes me want to barf.
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Deleted
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Post by Deleted on Apr 13, 2011 16:30:47 GMT -5
A $700/month car payment is insane. I'll sell anyone looking for a kick-ass truck mine for 15K. Lots of life left in it, but get used to $100 fill-ups and $100 oil changes.
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kgb18
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Post by kgb18 on Apr 13, 2011 16:37:33 GMT -5
We have an emergency fund. It's not as large as I would like it to be, but we're working on it. Even at that, we very rarely ever run low on money in our main checking account between pays. We usually have a cushion in there. It wasn't always like that, but we got on track once we decided to get married and moved in together. We decided it was time to reevaluate our spending/saving habits and be grownups. Life is so much less stressful with some extra money set aside.
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souldoubt
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Post by souldoubt on Apr 13, 2011 17:07:45 GMT -5
I know someone that pays almost $900 a month on just a truck payment. That's what happens when you go for one of the bigger trucks and turn in another truck you were upside down on. That said his final payments will be in a few months and he's admitted for a while that a payment that amount for a vehicle is way too much.
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Post by Deleted on Apr 13, 2011 17:18:55 GMT -5
My ex at one point had "bought" so many vehicles that it added up to him spending what amounted to a downpayment to house in Ca.
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LlamaLlamaDuck
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Post by LlamaLlamaDuck on Apr 13, 2011 18:57:39 GMT -5
The guy at the service counter sort of sucked on his teeth when he handed me my car repair bill. He's probably used to people regularly freaking out.
I said, "Well that's what my rainy day fund is for," and he looked surprised, said something about that being really rare.
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Post by debtheaven on Apr 13, 2011 19:17:26 GMT -5
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Deleted
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Post by Deleted on Apr 13, 2011 19:26:10 GMT -5
Gosh I hope the husband is planning on working until he's 90. I have a huge VW suv (thankfully purchased used) and they are no fun in terms of maintenance and repairs.
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Post by debtheaven on Apr 13, 2011 19:30:48 GMT -5
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Post by Deleted on Apr 13, 2011 19:34:48 GMT -5
Another example of where healthy cash flow can be handy: a few years ago when we coudl still use our personal credit cards for business expenses, I bought a ticket for a business trip to India. It cost about 2 weeks' salary. My boss, who had many good qualities, was slow about getting to expense accounts and approving them. I had to pay the credit card bill before the reimbursement came through. It was a stretch- I had to liquidate a mutual fund. If I'd been desperate I suppose I could have bugged him, or paid the minimum when it was due and then asked for reimbursement of the late fee (not sure if I'd have gotten it). I just figured that I would have been showing them that one of their VPs couldn't manage her cash flow.
Obviously I wouldnt' put up with this on a regular basis and my current boss is VERY prompt about approving expense accounts. I just sucked it up and collected lotsa Hilton points.
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Deleted
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Post by Deleted on Apr 13, 2011 19:35:04 GMT -5
debtheaven - it's hard to watch your friends trainwrecking and knowing the end is going to be ugly. This being YM we are supposed to cut them off but people who mismanage their money can still have lots of great qualities.
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Post by debtheaven on Apr 13, 2011 19:35:52 GMT -5
PatStab I've read a lot of your posts so I know your situation.
Has your DH ever considered trying to become a consultant or even a foreign-language teacher in your area, in the case that another posting abroad doesn't pan out? My BFF's dad (NY) became a freelance courthouse translator after he retired from his main job. He did that for a few years.
Obviously it's not as regular and your DH would not be earning the same money, but perhaps it's something to consider until SS kicks in?
Best of luck to you!
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Post by debtheaven on Apr 13, 2011 19:39:42 GMT -5
Anne you're exalted for that, thank you. They are wonderful friends in many ways. And generous to a fault, literally.
When the proverbial carp hit the fan for them about 18 months ago, they borrowed from three close friends. They borrowed 20e from us to pay their occasional babysitter. They borrowed 5Ke from another friend for living expenses. And then another 20K from yet another friend to pay back taxes. (They paid it all back in a timely fashion).
I was in a real quandry about that, but I decided it was best if I shut up and let my friend continue to think we were too poor to borrow more than 20e from. DH and I discussed it, and concluded that nothing had really changed for them, they needed money to continue their lifestyle, rather than choose to scale back. So we kept quiet. It was a difficult decision, but in retrospect, I agree that it was the right one.
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Deleted
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Post by Deleted on Apr 13, 2011 20:00:22 GMT -5
I am currently happy with having an EF fund because I have over 4 expenses requests pending to a tune of $1,150.
Just got one today for $248 and waiting for the others. I love my job but their department that approves expense requests is extremely slow!
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midjd
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Post by midjd on Apr 13, 2011 20:21:43 GMT -5
I have that, too - business expenses that take FOREVER to be reimbursed. When I was still a contractor at my current job, I had a 6-7 wk delay in payments after they ended the fiscal year. It did get pretty tight, mostly because that was about the time the transmission on one of our cars decided to crap out. Still, I think keeping my cool about not being paid for almost 2 months made a good impression on my boss and his boss, because they made me an employee about a month later... so thank goodness for an EF! ;D
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Deleted
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Post by Deleted on Apr 13, 2011 20:26:31 GMT -5
I'm waiting for about 1k in reimbursements from my health insurance company. I'm expecting that sometime never.
debtheaven - karma for you too!
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