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Daily FI discussion thread - January 16, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 0 points1 point  (0 children)

I only count what I put in, the rest is just "instant gains". My main thinking - if I put in 10% and get a 5% match and count that as 15% - then get a different job, but with no match - well now I have to put in a lot more to get back to 15% to keep my goals on track, which the raise might not actually be enough to fully cover without affecting my budget.

So - only count what I put in, count employer part as gains.

Daily FI discussion thread - January 15, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 10 points11 points  (0 children)

there is absolutely an option of declining - just say no. It's sounds more like there isn't an option to decline and stay with the company - but that's a different question.

As for negociating - if you are willing to move - even for a short time - milk them for every single cent you can - moving expenses, multiple weeks in a short term rental while you look for more stable housing (or a housing stipend for a period of time), relocation bonus, cost of living difference = raise....

Main thing is just make sure nothing is tied to a time based commitment - then just keep looking for another position back home.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 2 points3 points  (0 children)

I don't focus on the miles too much, but rather on the maintenance required. I always pay for a local mechanic to give the car a strong once-over and give me a realistic bill on what it will cost in the first year. Been working with the same guy for years, so I trust him.

That said - a car at 50k miles that needs tons of work, new tires, no prevent maintenance ever completed is a lot worse in my eyes than a car at 75k miles with everything completed on time. But it is likely the 50k miles car is both more expensive now and in the long run due to the extra maintenance required on it.

At your price point, what you need to look for is brakes (tend to go out at 50k miles, but not always replaced), tires (lots of places will replace the tires as its easy to check, but always still check), and hoses (open the hood and pinch the radiator hose - it should be soft and flexible, not rock hard which is a sign of age and needing replacement).

I tend to skip any car with a bad radiator hose as it is a cheap part that is easily replaced. Anyone doing any work around there will likely spend the $20 to get a new hose. So if that's never been changed then it's likely nothing else has been kept up as well. /r/whatcarshouldibuy is a great help with what to look for when going with a used car. I would check out their wiki and search around there for some good info on what to look for.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 2 points3 points  (0 children)

could also be the wrong type of car. Looking for a BMW for $10k is going to be older and more miles than looking for a Toyota Corolla. Same with an SUV over a sedan. You need to pick what you want more - an older SUV with more miles or a new sedan.

But usually, I like to go to CarMax or a similar website to see what sort of options are in my price range. They have a decent search feature that helps me put in the requirements I have (max number of miles, max age, max cost, etc) and then I can see what I have to pick from. From there I tend to go and test drive 3-4 models (so a Corolla, a Civic and an Elantra for example) - find the type of car I like best, then go searching for a good deal on that car mode. For searching - AutoTrader is a good option as they have private and commercial sales. Just make sure you add in any "dealer fees" to get the real total price. A $6k car with 750 dealer fee, $500 documentation fee and $500 bs fee is actually $7,750 (+ tax tag and title).

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 1 point2 points  (0 children)

/r/careerguidance is more focused towards stuff like that, but you will likely be able to use the search function here and find tons of advice from the past.

Main thing to remember is no one cares what anyone else in the department makes, it's strictly about how much money you make the company vs how much they pay you. If you bring up anything like "Bob makes 20% more than me, so I want a 20% raise" you have lost. Knowing Bob makes 20% more means the company is willing to pay 20% more, but that is it.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 0 points1 point  (0 children)

overall looks good. One thing I would do is rather than "everything else ~$2,000 goes to savings" I would better set up goals/plans for that.

$200 goes towards future wedding, $300 towards house down payment. $1,000 towards car I plan to get in Spring 2019 after which this money goes to the wedding fund, $500 towards other/vacation/etc. Something like that tends to help me see progress towards my goals and see how close or far off I am from them. Plus it allows you to set up a realistic timeline of when you get to hit each goal.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 2 points3 points  (0 children)

which I could WILL use to pay extra towards my other debt

You already have this money set aside in your budget - don't move it to your spending column, use it to get out of the hole you have dug for yourself.

Other than that, seems like a good overall plan.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 2 points3 points  (0 children)

depends on the amount of money the club handles. If it is only a few hundred - then an excel sheet showing cash and cash out is usually fine. However your faculty advisor should without question be helping you set this up and getting you started. Talk to them.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 7 points8 points  (0 children)

used is not only fine, but amazing for everything except for car seats.

If people don't know what to get - diapers.

Find your local used kids clothes place and sign up for their email - there are tons of sales and a great place to fill a closet.

After that - realize that not only are you going to be paying more for the kid - food, clothes, diapers, daycare, etc - but you are also going to be paying a lot less for your normal life. It's a lot harder to go out with a newborn. Even with spending $1k/month on daycare, plus everything else - the total hit to my wife's and my budget was closer to $300-400 due to the amount of lower spending on other categories like going out to eat.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 0 points1 point  (0 children)

honestly it looks like you are wanting to live on more than you make. $22k/yr isn't enough to live on, especially if you have to add in school costs on top of that, especially not without roommates.

Let's run the numbers you gave - you are spending over 16% of your income on your car (200+108/month), and that doesn't even include gas or maintenance - which is likely pushing that up over 25%. Looks like you bought too much car and are now feeling the pain of that. Add in living expenses of rent, internet and ultilities at almost 50% of your income. Next is taxes, but let's guess because of your lower income that's only like 10%. We are already at 85% of your income and haven't added in school, food or fun. Much less stuff like clothing, computer for school, etc.

You need to decrease your spending. Best way is going to likely be roommates. On top of the lower rent, that's also going to be splitting the internet and utilities multiple ways. As it sits now, you don't make enough to live alone.

Weekday Help Thread for the week of January 08, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 1 point2 points  (0 children)

700 isn't a "good" score, it's above average, maybe a bit low. Sounds like your debt to credit ratio is fairly high (pretty normal when you add in student loans) and with a lower score, seems like you are looking for too much car right now. Plus, multiple failed approvals over time are also starting to hit your score. You lose a few points in the short term when you apply for new credit - with or without being approved.

What I would do - look a bit lower - maybe the $8k range, which means $5k financed and $3k down. Then in 2-3 yrs looks to upgrade once you have time to improve your score.

Another option - look for a smaller credit union that is more designed to work with either lower credit scores or younger people - usually around colleges and what not. You'll likely get a slightly higher interest rate, but this is usually a much easier time getting approval.

If Georgia ball wins the national championship will he remain a serial killer or does winning cure his insanity? by gmac2790 in cfbball

[–]CripzyChiken 8 points9 points  (0 children)

obviously the best comic wins, But I'm assuming riceball comes back and continues to help cure dawg of the h8 and he's getting better, doing the 12 steps like a true addicts. Gives back some of his trophies, then some really minor infraction - like a bad call by the refs in the spring game will release the h8 again and he has to build up his collection again.

What goes from great to awful if you add "almost" in front of it? by Cipy29 in AskReddit

[–]CripzyChiken 0 points1 point  (0 children)

after seeing the pot of boiling oil fall from the top floor, I almost pushed the old lady holding an infant out of the way.

What is a Disney World secret that you know? by tittianup in AskReddit

[–]CripzyChiken 0 points1 point  (0 children)

stay at the resorts and you get a 60day window. All others are 30 days. Food reservations at 6 months out

Daily FI discussion thread - January 04, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 8 points9 points  (0 children)

to me the reason the "first 100k is the hardest" is because you aren't likely going from 0 to 100k, but rather -100k to 100k (student loans) - or you will tend to have extra expenses like you first car, and then your first nice/decent car, a wedding, international travel, etc that will eat into getting to that 100k level.

Plus, to get to 100k, you havet o have the rest of your life in order as well. So once you are at 100k - well that means that not only have you gotten out of the hole, but you've also laid the ground work needed to succeed. Now it's just following that path - which also tends to be easier since you are older and likely making more as well. Plus, now you have 100k invested which is also earning it's own return helping to bring you to 200k that much faster.

Daily FI discussion thread - January 04, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 0 points1 point  (0 children)

work from home isn't an option for either job, nature of my degree and industry.

As for appreciation - I get a paycheck, that's all the appreciation I need.

But it's more I'm stuck in the wrong field - there are 2 options/types of work for my degree - X and Y. I went to school for X. First job out of college was doing Y b/c they were hiring. After a few years, I left and took a job doing X. Then came back to original company to do X at a higher level. Then the person doing Y quit and they offered me a lot of money to move back to Y "for a few years" - I chased the money. Now I've served my time and want to move back to X and company isn't assisting.

Main issue is this is an entry level position with 0 career growth and no promotion ladder - my direct boss is a guy with 40 yrs XP and 1 step below a VP, no middle level manager whose job I can take when he moves up - nothing between me and a director position that I'm still 10+yrs away from.

I feel I'm at a "stay in this spot forever" or bit the bullet and move so I have time to work up a different promotion ladder.

Daily FI discussion thread - January 04, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 0 points1 point  (0 children)

more expecting a pay cut because I was in a unique situation when I got my current job and am paid well over industry standard.

So I will still likely get a good pay with the new job, but I know that trying to match my current pay likely isn't an option. I means I'm still going to negotiate it up, but I'm also being realistic.

Daily FI discussion thread - January 04, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 0 points1 point  (0 children)

I've heard it depends on the business environment - if there's a ton of work and not enough people - paying you more is better for the company than having to go through interviews and training. But if the work is low, then you quitting is better than them firing your or laying you off.

Daily FI discussion thread - January 04, 2018 by AutoModerator in financialindependence

[–]CripzyChiken 1 point2 points  (0 children)

new company is hiring a TON - like 5-6 new people a month towards the jobs I'm looking for. My skills align well with the position and I've been talking to the hiring manager - he actually called me and told me to apply for a certain posting he just created and said it was highly likely (assuming I don't fail the interview, which I feel confident about).

Even if the other candidates do well - the new company will likely hire us all in. they just won 2 new contracts and a doing a massive staff up.

As for the counter offer - the main thing is I want is the different position, I don't really care as much where - and I originally gave them the first crack at it. If the counter is just more money to stay at my current spot (which my current company has been doing for key employees), it's an easy no. But if they actually put in writing the transfer I've been requesting, well that's what I've been thinking about for the last 12-15 hours.

Weekday Help Thread for the week of January 01, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 1 point2 points  (0 children)

so the main question you missed is what type of vechicle you are looking for. A $1,000 beater or something similar is a lot different than getting a new 2018 SUV - so getting your mindset on what you are thinking of helps.

but realistically - first you need to realize the extra costs of owning a car - insurance, maintenance, gas, repairs - and that is on top of any monthly payment if you finance the car.

Realistically, if you have a stable job, then I would just buy the best car you can for cash. Then keep saving and look to upgrade that in a year or two when you have more cash saved and can upgrade your car then.

so to answer your questions:

  1. yes, assuming you get a cheap/affordable car that you can actually pay for everything on.

  2. when you have enough in savings to buy said car while still keeping an eFund in place.

  3. the more you save the faster you get the car. The less you save, the longer it takes but the more you have to spend on other goals. It's a trade-off.

Weekday Help Thread for the week of January 01, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 1 point2 points  (0 children)

you could go 'safe' with a bond fund - will tend to make more than just normal interest rates, but I personally use a TDF that is about 20 yrs out. More conservative that my normal investment/retirement accounts, but still has some stocks to help with growth.

Weekday Help Thread for the week of January 01, 2018 by AutoModerator in personalfinance

[–]CripzyChiken 2 points3 points  (0 children)

so "saved a lot" means lots of different things to different people.

The most common is a refi will lower your interest rate - from 7% down to 4-5% depending on your term and credit score.

Cons - you lose a lot of the protections like IBR and potential forgiveness, also deferment in most cases. Lastly, if you lower your term (number of years/months to pay off) it will raise your monthly payment (but save you tons in the long run).

What you need to look into doing - refi to get a lower interest rate. then pay either the new monthly amount or your current monthly amount - which ever is HIGHER. This way you will both pay off your loans sooner and pay less overall as well.