Ontopic Money Thread

kiwi said:
I agree with @APRIL on all this. It is possible if people really care. Our lives are so consumed with stuff that takes up all our time and money but isn't really adding any value anyway. If we weren't so concerned with getting more it would be fairly easy to live on much less.
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I agree with her as well....in principal.........but extenuating circumstances don't always allow people to save as much as they'd like.
 
Jehannum said:
A lot of the places that do this stuff now finance at some low APR, but tack on a finance charge of some money "per $1000 financed". It's a bunch of shit, but it gets rubes in the door.
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usually the '.0360 per $1000 financed'. is the way you'd calculate the payment on a 36 month contract. That rate factor (.0360) is for 0%, but you can do it for any %. It helps the customer figure out what they can budget for or how much they'll want to put down to reach a certain payment.

I actually haven't heard of an additional charge 'per $1000 financed' that's outside of the interest.
 
Amstel said:
usually the '.0360 per $1000 financed'. is the way you'd calculate the payment on a 36 month contract. That rate factor (.0360) is for 0%, but you can do it for any %. It helps the customer figure out what they can budget for or how much they'll want to put down to reach a certain payment.

I actually haven't heard of an additional charge 'per $1000 financed' that's outside of the interest.
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I know that, but lately I've been hearing shit on the radio like "$16.60 per $1000 financed" on a 0% APR loan. Obviously not the same thing.
 
Jehannum said:
I know that, but lately I've been hearing shit on the radio like "$16.60 per $1000 financed" on a 0% APR loan. Obviously not the same thing.
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that's a 60 month loan.

& Mine was a factor that works for any dollar amount. $16.60/month/$1000 financed = '.01660' rate factor for any dollar amount.
I work with factors and factoring every day. When I see the car deal 'per $1000' calculations it just throws off the customer to see smaller numbers.

$21,345 purchase. . . .

my daily activities:
$21,345 x .01660 = 354.33/mo

or. . .

car dealer ad:
$16.60 per $1000 is, 21.345 ('thousands') x 16.60 = 354.33/mo.


it's just moving the decimal around.
 
123 said:
They work for hardly anyone. Thus why hardly anyone does this.
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No, there is an entire counter culture dedicated to it. The reason that people don't do it is probably a combination of:

a) Seems too far out of reach
b) Uninformed
c) Would rather do what their friends are doing
 
kiwi said:
I agree with @APRIL on all this. It is possible if people really care. Our lives are so consumed with stuff that takes up all our time and money but isn't really adding any value anyway. If we weren't so concerned with getting more it would be fairly easy to live on much less.
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Exactly. Our houses are all FILLED with stuff we don't need but bought anyway. If you stop doing that stuff...
 
fly said:
No, there is an entire counter culture dedicated to it. The reason that people don't do it is probably a combination of:

a) Seems too far out of reach
b) Uninformed
c) Would rather do what their friends are doing
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I never hear anything about these people. They must be everywhere.
 
123 said:
I never hear anything about these people. They must be everywhere.
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If you care, and I doubt you do, then educate yourself about them. Here are some of the blogs I follow:

http://www.getrichslowly.org/blog/
http://www.jdroth.com/
http://www.mrmoneymustache.com/
http://simpleeconomist.com/
http://www.thesimpledollar.com/
http://www.beingfrugal.net/
http://www.bravenewlife.com/
http://earlyretirementextreme.com/
http://jlcollinsnh.com/
http://www.johnnymoneyseed.com/

Now you can't claim ignorance.
 
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fly said:
If you care, and I doubt you do, then educate yourself about them. Here are some of the blogs I follow:

http://www.getrichslowly.org/blog/
http://www.jdroth.com/
http://www.mrmoneymustache.com/
http://simpleeconomist.com/
http://www.thesimpledollar.com/
http://www.beingfrugal.net/
http://www.bravenewlife.com/
http://earlyretirementextreme.com/
http://jlcollinsnh.com/
http://www.johnnymoneyseed.com/

Now you can't claim ignorance.
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You're not understanding what I'm saying. Which is no surprise. I'm saying that these people are not a majority. not a majority for a reason.
 
fly said:
No, there is an entire counter culture dedicated to it. The reason that people don't do it is probably a combination of:

a) Seems too far out of reach
b) Uninformed
c) Would rather do what their friends are doing
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I get it. For us though, we aren't here to do what "everyone else is doing" never have. We just want a comfortable start here & we're having fun. That's all that we care about. We have future goals... It's not like we're all going out and buying hot ass cars, too.
With my immigration still hanging in the air, I cannot work yet, so we're not gonna drain savings to furnish a house this size.

Anyway, we're doing what makes us happy & yet completely manageable.
 
fly said:
Exactly. Our houses are all FILLED with stuff we don't need but bought anyway. If you stop doing that stuff...
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Omgggg I could NOT believe the massive amount of shit that we accumulated & had to get rid of before we came here!! I so don't want to accumulate just.. Stuff again! Mountains of... Stuff. It was unbelievably overwhelming looking at all that and realizing we had to dissect each & every piece. Keep, sell, give away, trash.

Ugh, makes me want to have a mental breakdown just thinking about that time!
 
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