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cstine posted:Good job getting rid of almost half your debt! Yeah, I felt really bad for that. It sort of happened because I needed to give some people gas money, and I was taking the money out $20 at at a time, and then I thought I might as well take out a bunch to stop the fees, and then I lost track. Oops. Poor excuse, I know.
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Jul 10, 2013 03:32
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You should not be paying fees to withdraw money from your own accounts. If you are paying ATM fees, you're doing something wrong. Example: if you pay $1.50 every time you take out $40, you are paying 3.75% of your money to the bank just to have your money.
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Jul 10, 2013 04:22
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cstine posted:Also stop trolling your own thread. Please don't do this.
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Jul 10, 2013 05:02
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Leperflesh posted:You should not be paying fees to withdraw money from your own accounts. If you are paying ATM fees, you're doing something wrong. Yes, that's why she took 220 out at once.
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Jul 10, 2013 11:59
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tuyop posted:Yes, that's why she took 220 out at once. You guys should be withdrawing money from a bank that doesn't have ANY withdrawal fees regardless of amount withdrawn (e.g. a bank in your network). If the bank you guys currently are using isn't as prevalent where ToeShoes is then she needs to find a new bank that is or a bank that reimburses fees for non-network banks on a wider scale. Having to take out a large amount so then you just "lose track of the money" is its own kind of fee.
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Jul 10, 2013 13:23
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HooKars posted:You guys should be withdrawing money from a bank that doesn't have ANY withdrawal fees regardless of amount withdrawn (e.g. a bank in your network). If the bank you guys currently are using isn't as prevalent where ToeShoes is then she needs to find a new bank that is or a bank that reimburses fees for non-network banks on a wider scale. Having to take out a large amount so then you just "lose track of the money" is its own kind of fee. Yes, that's what happened. This isn't exactly a new concept to us. We bank with a no-fees brand of a large Canadian bank with thousands of ATMs all over the country. I think we also just really don't give a gently caress about this cash transaction. It's not a pattern, it has happened literally just once. Whatever. We categorized it in the budget as toeshoes' fun money for now (or forever, whatever), it balanced perfectly, we met our goals. It's not a big deal.
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Jul 10, 2013 17:06
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Yeah, honestly, they have way bigger problems than using another bank's ATM literally once (which they didn't even do... it sounds like PC Financial cover the fee if you take out more than a certain amount of money, which Toeshoes did). I do it once or twice every six months as well. Sometimes it's worth that $2 convenience fee. There's a lot of financial screw ups Tuyop makes, but this isn't worth blowing up over, especially since they don't make it a regular thing.
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Jul 10, 2013 17:41
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OK - realistically I think the posters have been stressing about stuff more here in the past few pages because it seems like recently Tuyop's been losing sight of the fact that he's poorer than dead broke by tens of thousands of dollars. If you're changing to a different framework than "the roof's on fire", that's fine, whatever, but I don't recommend it. No Wave fucked around with this message at 18:02 on Jul 10, 2013 |
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Jul 10, 2013 17:57
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HookShot posted:Yeah, honestly, they have way bigger problems than using another bank's ATM literally once (which they didn't even do... it sounds like PC Financial cover the fee if you take out more than a certain amount of money, which Toeshoes did). I do it once or twice every six months as well. Sometimes it's worth that $2 convenience fee. There's a lot of financial screw ups Tuyop makes, but this isn't worth blowing up over, especially since they don't make it a regular thing. It's more the "I took out a large sum of money to avoid a transaction fee, then paid the people I owed, then lost track of what I did with the remaining $220" -- or that's how I read it, and they didn't quantify how much was for gas money -- that I have a problem with. If they're counting it as Toeshoes blow money, then that's cool. Otherwise, I wouldn't see a huge difference between that and a $500 computer, aside from a computer would be more like a $220 mistake that accidentally occured twice, and they'd have a computer to show for it vs. no idea where the money went.
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Jul 10, 2013 18:05
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HooKars posted:It's more the "I took out a large sum of money to avoid a transaction fee, then paid the people I owed, then lost track of what I did with the remaining $220" -- or that's how I read it, and they didn't quantify how much was for gas money -- that I have a problem with. If they're counting it as Toeshoes blow money, then that's cool. Otherwise, I wouldn't see a huge difference between that and a $500 computer, aside from a computer would be more like a $220 mistake that accidentally occured twice, and they'd have a computer to show for it vs. no idea where the money went. Not what happened. It's more like, "The no-fee ATM that's in my bank's network is three blocks away, and there's one in the grocery store. I know I need cash this week for ???, so I'll take out $220 now and just carry forty bucks with me and keep the rest in a coffee can." Usually for this we budget it as a $220 transfer to a "cash" account, and then buy things with cash and track them out of that account. I don't know if the money is just in a pocket of toeshoes' other pants or if she bought a bunch of beads and sandwiches with it or set it all on fire. The only difference is that instead of transferring it to the cash account and then categorizing each transaction as toeshoes' fun money (if applicable), it's now just gone straight to the fun money category. Like I said, it all balanced so whatever. Edit: No Wave posted:If you're changing to a different framework than "the roof's on fire", that's fine, whatever, but I don't recommend it. The framework right now is based on the fact that we'll have a pretty large windfall of my severance and pension value in the fall. That pension value can be used to pay off my debt, tax-free, by putting into an RRSP and then using it based on the Lifelong Learning Plan. We're also maintaining two "households" for the next sixteen days, so there are some additional expenses to be expected. At the same time, I'm saving money in case my disability pay doesn't work properly, and in case they don't cover my tuition. That savings is currently worth 14500. In summary, the large savings (for us, this is about 7 months of expenses, or my entire tuition) increased paycheque that toeshoes is pulling, and windfall(s) coming in the next few months, are kind of producing a weird sense of security and false accomplishment and we have to be careful to maintain the same frugality. But I really don't think we're doing that bad. The worst case scenario is $0 income from me for two years, using savings for tuition, and living on toeshoes' income, which is perfectly possible given our spending. The worst case scenario is also hugely unlikely because no matter what happens I'll be getting my pension value. tuyop fucked around with this message at 18:21 on Jul 10, 2013 |
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Jul 10, 2013 18:10
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Well, that's not the worst-case scenario. While it's unlikely that Toeshoes could lose her position, you never thought that you'd hurt your back, be unable to continue in a position that suited you, and spend the next year in bureaucratic hell. So yes, important not to let that sense of "this is how much money we will have starting August 1 and onward after that..." get the better of you.
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Jul 10, 2013 19:41
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I think the trick with work is to just try to not hurt your back. I work with a guy who is like 29 and he hosed up his back really bad at work. I plan to lift nothing heavy for the rest of my life.
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Jul 10, 2013 19:44
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Never you mind posted:Well, that's not the worst-case scenario. While it's unlikely that Toeshoes could lose her position, you never thought that you'd hurt your back, be unable to continue in a position that suited you, and spend the next year in bureaucratic hell. So yes, important not to let that sense of "this is how much money we will have starting August 1 and onward after that..." get the better of you. The "my job is rock solid and I'll never have to worry about getting fired or quitting" arguments sprinkled over the first dozen pages or so are precious 
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Jul 10, 2013 19:47
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/\/\ My job IS rock solid, I could still be staying at Borden, keeping quiet and just letting administration take two more years. I just don't loving want it anymore so I'm leaving regardless of the finances. I mean, this whole time I have never failed to receive a pay. Toeshoes is qualified and has a contract for another two years. It's about as secure a job in terms of a paycheque as you can get. Baloogan posted:I think the trick with work is to just try to not hurt your back. I work with a guy who is like 29 and he hosed up his back really bad at work. Lifting is fine, I lift heavy poo poo all the time. The key is to not fall into an old trench with 150lbs of kit and heavy weapons on you. tuyop fucked around with this message at 19:49 on Jul 10, 2013 |
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Jul 10, 2013 19:47
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tuyop posted:
Well how in hell am I going to get out of lifting heavy poo poo? I'm one lazy motherfucker.
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Jul 10, 2013 20:08
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Baloogan posted:Well how in hell am I going to get out of lifting heavy poo poo? I'm one lazy motherfucker. Just start telling people you have arthritis.
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Jul 10, 2013 23:28
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Baloogan posted:Well how in hell am I going to get out of lifting heavy poo poo? I'm one lazy motherfucker. Well, I guess you could just start eating. It covers you in a couple of ways. Also,  at "disabilitysecrets.com".
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Jul 10, 2013 23:36
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Sir, Yes Sir!
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Jul 10, 2013 23:44
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What's the general opinion on bank accounts that require a minimum balance? I went to TD this week to open a LIRA for the locked-in portion of my pension (which was free). They were really pushing the Select Service Account. It has a $30/month payment unless you keep a 5k balance. Oh and they give you a free Android tablet. $5-7000 is about what sits in our chequing accounts anyway, just for general intermittent expenses and because all of our bills are automated, so we'd only get hit with a fee in an emergency. The big benefit is that you never pay fees on ATMs, foreign exchange and withdrawals from US and overseas ATMs, and they waive the annual fee on their arguably-sweet travel card, which returns 1.5-4.5% based on a quick glance at reviews. The "cost" would be like 48 cents a month from the interest bearing chequing account we have now. We're also pretty happy with our experience with these free accounts and haven't needed any of the features that we'd be getting with the new account, so it seems a bit pointless. Except for that tablet.
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Jul 13, 2013 16:44
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5k is a lot of money to have sitting in a chequing account. Chequing is money that's going to get spent, saving is money that's going to sit. $30/month is a lot of money to pay in fee when your account inevitably goes under the 5k mark. And you don't need a cheap rear end Android tablet. You don't need a tablet. Say that tablet is worth $300. Alright, so you're loosing 50 cents of interest a month, which is $6 a year. The bank is making a lot more than that on that 5k you're essentially paying to have the account... Unless you want to pay $30 a month in fee, in which case they've paid for that tablet in less than a year. And they've got you in the door for all your savings, all those fees they'll ding you with (Because they're a bank), and the interest on the debt you could rack up on that credit card. That tablet is costing you about $366 a year... Or $6 + the immobilization cost on five thousand goddamn dollars. The $5000 thing is a decent deal if you're the kind of person who can leave money sitting there, accessible to your interact card and all, without spending it. Are you that kind of person? No fee for ATMs is like a restaurant offering free water, assuming you're willing to go to the effort of using your own bank's ATM. Which you should, TD's loving everywhere. Who uses cash anyway? Desjardin's free Visa is like 1% cash back and has travel coverage for trips of three days or less; you can find better deals than what TD is giving you "for free". You can't afford to travel anyway. Do you spend enough time outside the country that you'd use the no-fee exchange thing? Remember, you're in school for the next four years. Do they offer student accounts? Those are usually pretty bitching. You don't need a tablet. Banks are pretty evil, and they're out to make money. Do not believe for a second that they are giving you free poo poo. And you don't need a drat tablet. FrozenVent fucked around with this message at 16:59 on Jul 13, 2013 |
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Jul 13, 2013 16:55
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Speaking as a former TD employee, you do not need a select service account. When you start school, give them some proof of enrolment and you can get a Value Plus Student which has no monthly fee.
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Jul 13, 2013 17:25
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/\/\ I already have a barebones, no-fee, interest-bearing chequing account from PC Financial. I'm interested in the features, yo.FrozenVent posted:Good Yeah, I don't even really want a cheap Android tablet. As for the impulse control on the 5k (7k right now, actually), we've done our banking this way for months now and haven't felt the urge to get our accounts down to 0 just because. We don't even use debit for things that don't need it, we have a $6500 limit, no fee cashback credit card that's paid us 100 dollars so far this year to pay for everything. We stick to the budget, don't buy poo poo that's not in the plan, the CC automatically takes the full statement amount out of my account every month and it's been pretty much perfect. Also, I'm in school for two years and one of them is a practicum. Why does everyone think it's four years? The travel thing interested me because we'll be debt-free once my pension comes in, and I want to take a nice trip when we have the time after the debt is gone. Depending, of course. The ATM thing is no fee for any ATM, not just TD's. That's the feature of it. Right now we just use CIBC or PC ATMs, which are free. Now, before someone asks what the breakdown of that 7k is, here's a quick rundown: 400 xmas 1800 wedding 750 buffer 500 tires 500 fuel (I'm driving to Edmonton in two weeks) 375 car payment 600 insurance savings (to avoid finance charges when I renew) 500 car maintenance savings ~1500 in emergency savings that hasn't migrated over to the savings account yet. 
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Jul 13, 2013 17:29
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A cheap Android tablet will be a piece of poo poo, absolutely not worth a lousy fee-laden checking account.
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Jul 13, 2013 17:36
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^^ It's a Samsung Galaxy tablet. I've had my Select Service account with the 5k+ sitting in it for over a year now. Basically, I do it because in ING Direct that money would be making $70 a year at the current 1.5% or so interest rates. I'd probably be realistically paying $100 in fees over the course of a year with TD, so I figure I'm $30 ahead. I also don't have to pay the $120 a year fee on my credit card, and it gives you a free safety deposit box. THAT SAID I'm always really careful about making sure I have a nice buffer. I've never come close to dipping below that $5k limit. Seeing as you're only going to have it for a few months, I honestly don't think it's worth it. You screw up once and you're paying $30 in fees, and there's no guarantee that they'll reverse it even if you ask the customer service rep nicely. It works for me because that money would otherwise be in savings. You have that money earmarked for things, which means it will come out eventually, and let's face it, you're probably going to somehow end up accidentally paying the fee. Don't do it, not until you've got 7k at least in savings that you can just leave sitting there.
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Jul 13, 2013 17:37
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HookShot posted:Don't do it, not until you've got 7k at least in savings that you can just leave sitting there. Well we have that 12k e-fund as well, half of which could be recruited for getting rid of the fee I guess. I'd kind of like to just invest my cash in a TFSA and use springy debt for emergencies, though instead of having it languish in dumb savings accounts. That's a whole other kettle of fish, though.
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Jul 13, 2013 21:03
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tuyop posted:Well we have that 12k e-fund as well, half of which could be recruited for getting rid of the fee I guess. I'd kind of like to just invest my cash in a TFSA and use springy debt for emergencies, though instead of having it languish in dumb savings accounts. You're already banking with no fees with PC Financial, aren't you? What would having a select service TD account give you need, that you don't already have? I changed because I've been doing my banking with TD since I was a kid, I had all my credit cards with TD and with my the process of my husband moving to Canada combined with the fact that all his family still live in Australia, we probably got about 5 or 6 money orders from the bank this year, which would have cost around $50. You don't have any of those things. You're already getting your banking done for free. While you're attempting to get out of debt you certainly don't need a new credit card, especially not one with an annual fee. When you combine that with the fact that you have to be really, really diligent with making sure you never let your balance slip below $5000, I just don't think it's worth it for you. As for investing your emergency fund and using your credit cards instead, that's another terrible idea. What happens when you do have an emergency, need to pay off the credit cards, overdraw on your TFSA and get a huge tax bill again the next year? Yeah, savings accounts are low risk and low interest. But they're very liquid, specifically for things like emergencies. That's why they're great for emergency funds. Emergency fund money isn't there to make you more money. It's there for emergencies. When you're out of debt, with a solid emergency fund, then you can start investing your money for real to try and make more money from it. But now isn't the time to do that, and your emergency fund sure as hell isn't the thing to do it with, especially when it would involve tax implications and using your credit card for emergencies.
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Jul 13, 2013 21:35
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Jesus loving gently caress gently caress. I'm just arriving to this party and spent the past 4 days sifting through 91 loving pages of this god drat thread. You want to buy a laptop cause you're bored for a month? Are you serious? I didn't have my own computer for two loving years of my college career. Once I got my first real grown up professional job, I had a laptop, but then I spent two years with no home internet, because it didn't fit into my budget. FOUR YEARS I was not entertained by the internet. The whole reason you're in this stupid, self-imposed shitcycle is because you TRAVELED THE loving WORLD. I didn't get off the continent until I turned 27 and blindly took a job that relocated me to a county I had never been to before, because economically that's the only way I could finance this adventure. You took your rewards before you earned them, and now you have to pay that back. The adventure you've had driving a fun car and going on fourteen motherfucking vacations has earned you one whole month of (barely) limited digital entertainment. Life is not that boring, you're just kind of a spoiled brat. You need a month of solitude to get your humble pants on and your gratitude stick wet. Jesus.
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Jul 16, 2013 03:03
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Switchback posted:Jesus loving gently caress gently caress. I'm just arriving to this party and spent the past 4 days sifting through 91 loving pages of this god drat thread. You want to buy a laptop cause you're bored for a month? Are you serious? I didn't have my own computer for two loving years of my college career. Once I got my first real grown up professional job, I had a laptop, but then I spent two years with no home internet, because it didn't fit into my budget. FOUR YEARS I was not entertained by the internet. Yeah I loving suck and you're just awesome, aren't you? 
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Jul 16, 2013 03:13
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Switchback posted:Jesus loving gently caress gently caress. The thread is also almost exactly two years old, so you need to kind of realize that and not act like tuyop today is the same guy as the tuyop who posted the OP. On the other hand... yup. This is a guy who professes to believe in minimalism (to the extent of preferring to process his own sewage), but going without Internet for a month is a significant hardship. On the third hand, it's already resolved, he borrowed a laptop from his dad's company and isn't going to buy anything so there's little point continuing to harp about it.
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Jul 16, 2013 03:17
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Leperflesh posted:The thread is also almost exactly two years old, so you need to kind of realize that and not act like tuyop today is the same guy as the tuyop who posted the OP... Yes I posted emotionally. My apologies on being reactionary. I guess I had expected a little more progress on the attitude toward money after so long, but tuyop has paid down a lot of debt and that's awesome. I should probably just stop posting, I've been on forum hiatus for several years, I have a lot of reading to do.
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Jul 16, 2013 04:15
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Switchback posted:Jesus loving gently caress gently caress. I'm just arriving to this party and spent the past 4 days sifting through 91 loving pages of this god drat thread. You want to buy a laptop cause you're bored for a month? Are you serious? I didn't have my own computer for two loving years of my college career. Once I got my first real grown up professional job, I had a laptop, but then I spent two years with no home internet, because it didn't fit into my budget. FOUR YEARS I was not entertained by the internet. You seem pretty upset that tuyop has a more exciting life than you.
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Jul 16, 2013 04:22
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Nippashish posted:You seem pretty upset that tuyop has a more exciting life than you. Eh, I was upset of what he considers a "poor me" hardship, after having had such excitement, and the general black/white thinking. But I'm off it now. Yeah, I'm an rear end in a top hat. I'd edit my post out but now it's been quoted like 3 times. Night shift makes me a dickhole, I should go to bed.
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Jul 16, 2013 04:51
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Nippashish posted:You seem pretty upset that tuyop has a more exciting life than you. Count your blessings that tuyop has a more exciting life than you do. I know I do. Seriously, I think half the BFC regulars would benefit from having a pinch of tuyop in us. Only a pinch though. 
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Jul 16, 2013 05:23
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May y'all have exciting lives.
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Jul 16, 2013 09:22
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The fact is you have it, the task is to want it. -- Epictetus, or maybe a rapper I like 
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Jul 16, 2013 10:44
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Baloogan posted:May y'all have exciting lives. Pretty sure that's a curse in some cultures, and I say this as someone who's had a pretty positively interesting life so far.
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Jul 16, 2013 12:46
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FrozenVent posted:Pretty sure that's a curse in some cultures, and I say this as someone who's had a pretty positively interesting life so far. The actual quote is usually "May you live in interesting times". And yes this is a curse in many western cultures
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Jul 16, 2013 12:52
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Zeta Taskforce posted:Count your blessings that tuyop has a more exciting life than you do. I know I do.
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Jul 16, 2013 16:23
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I agree with the other guy who said you should buy that Macbook pro.
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Jul 16, 2013 16:29
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Zo posted:I agree with the other guy who said you should buy that Macbook pro. Well, it can be had on a 0%, 0 down financing plan through the CANEX, the payments will just come off of Toeshoes' pay!
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Jul 16, 2013 16:41
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