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Posts by Ajax
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2019-01-05 at 2:49 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks Okay at least we are in agreement on something.
And I do take responsibility for my part in what happened, which is why I wasn't looking for a full refund or anything like that - just some kind of reasonable compromise.
They wouldn't even do that.
Either way, whatever, it's a chance to try something different. I highly doubt anyone at my former bank will lose any sleep over one lost customer - and especially the much higher ups.
They won’t. They make money by you keeping deposits there so they can loan out your money and make money by charging interest on those loans. -
2019-01-05 at 2:41 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks The thing is, you went beyond that by even remotely implying that a flat $48 fee is anywhere near reasonable.
I do see what you're saying about it being my responsibility, and, like I said, I am willing to pay a REASONABLE fee for my own negligence and poor planning.
But not $48. That's just ridiculous.
Like it's so ridiculous that it reaches the point of being morally dubious.
Each of those three bill payments were an average of $200.
48 / 200 = ~1/4 = 25%.
That is undeniably unreasonable.
ESPECIALLY considering that I was taking efforts to prevent such a scenario by applying for overdraft protection and applying for a consolidation loan and so on.
To clear up your assumptions, I do not think $48 is a reasonable fee. I worked at a bank once and I waved as many fees as I could without getting in trouble. -
2019-01-05 at 2:32 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks How old are you?
You're seriously trying to tell me you've never had a check bounce or had any kind of financial emergency?
I just find that incredibly hard to believe.
Again, that’s not what I’m saying. I’m saying don’t look to a bank for grace. They honored their end of the deal, now you honor yours.
I’m 31. -
2019-01-05 at 2:29 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks This is surreal to me right now - you're really touting the "pull yourself up by the bootstraps" line here?
I am the literal embodiment of the "pull yourself up by the bootstraps" concept.
Me a few years ago:
– Homeless.
– Heroin addict.
– Unemployed and on welfare.
So what did I do? I got clean, then I hit the books and worked my fucking ass off every single day (no weekends or other "days off") teaching myself computer programming; then I put together a portfolio to showcase my skills (you have to put in extra effort to that effect if you have no piece of paper substantiating your expertise); then I put myself out there, despite all kinds of social anxiety, self-doubt, self-esteem and self-confidence issues, and I networked and faced rejection after rejection until I found a job in my field.
So forgive me for being a tad stunned that I'm on this side of the argument, because it is a bit of a shock to the system.
I’m telling you what you need to hear. I’m sorry you’ve had a tough history and I’m glad you’re turning it around. Blaming other people for your mistakes will not get you anywhere.
Go talk to the bank manager. They might reverse SOME of the fees if you plead your case, but don’t expect it. Get your account back in good standing and move on. They are not your friend. They are a business offering a service and they exist to make a profit, that is all. -
2019-01-05 at 2:24 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks Easier said than done.
Sometimes circumstances in a person's life can change. I'm still recovering from a bout of homelessness and prolonged unemployment. Stuff like that can fuck up a person's finances for a long time.
Wait, wut? Overdraft protection means you either pay a REASONABLE fee for every bounced check, OR, you pay a percentage of how far you go into debt.
Usury laws, and heck, common human decency,wouldshould prevent things like 50% - 200% interest, charged instantaneously.
Overdraft protection means you pay the fee you agreed to pay when you signed the fee disclosure when you opened your account. If you don’t like the fee, either don’t bank there or don’t bounce checks. -
2019-01-05 at 2:08 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks Yes.
Yes I am.
It's called overdraft protection and it's a pretty typical thing.
Or, they could charge something more reasonable/proportionate.
And they’re honoring their overdraft protection by not bouncing your bills and sending you back into collections. Your fault for assuming it was free and not reading the fee disclosure.
The reasonable thing would be to spend less than you earn. When you run out of money, stop spending. -
2019-01-05 at 2:02 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)
Originally posted by gadzooks I know that credit unions are more likely to give a person overdraft protection.
I mean, are you really suggesting that $48 per returned payment is a reasonable fee?
It's highway robbery, quite frankly.
No, that’s not what I’m suggesting. Are you suggesting that it’s reasonable to expect the bank to pay your bills for you when you run out of money? -
2019-01-05 at 1:57 AM UTC in I just rage quit my bank after 15 years and went to the credit union across the street (DISCUSS: banks vs credit unions)Honestly, it sounds like you’re trying to blame the bank for your inability to manage money.
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2019-01-04 at 11:20 PM UTC in What is your job, and how much do you make roughly?
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2019-01-04 at 11:06 PM UTC in What is your job, and how much do you make roughly?I’m a senior manager in supply chain planning. I make roughly $150k per year.
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2019-01-04 at 6:03 AM UTC in Let’s get real
Originally posted by Item 9 Just today at work I thought if I commited suicide I'd be a dick and write a note addressed to my coworkers that I did it because nobody ever pitched in to help me. Just an Idea that came to me, I don't think I would blame my suicide on them.
Suicide can’t be blamed on anyone other than the self. It’s in the nature of the act.
We all have demons that we fight. Stay strong. -
2019-01-04 at 6 AM UTC in My daughter just died
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2019-01-04 at 5:38 AM UTC in Let’s get realLet’s get real for a moment. We’re all a bunch of characters here, getting glimpses into each others’ lives, or at least glimpses into what we want to project as a persona of ourselves.
Anonymity provides courage. This courage may personify itself in the form of cowardice, but courage nonetheless, if such irony makes any sense.
Take a moment and tell me something about you. Tell me something raw. Something that you feel. Perhaps something you’re afraid of feeling that has been suppressed, that feeling in the pit of your stomach that tries to rise like acid reflux that you have to fight with every nerve to keep from spilling out and making you lose control.
I don’t have anything quite at that level that I’m ready to share, but I’ll kick it off. The holidays are fun. It brings out the best in people... and the worst. Sometimes it can take you by surprise.
Someone at my workplace took his life recently. Not while at work, but the day after Christmas. He texted a few people in his close circle his goodbyes. A fucking text. Maybe he thought he didn’t have anyone close to him, but he obviously had people close enough to send fucking goodbye texts to. He wouldn’t even answer the phone when they tried to call him. Shortly afterwards, his son found him at his home. Shot himself in the head.
Within a week, a friend from high school killed himself. Not sure of the method or how he was found. He had some rough patches, but he has been doing a lot better. A lot of people rooting him on. A lot of people left behind, remembering him and celebrating his life.
Shortly before these guys was another guy from school. More of an acquaintance, but mutual friend groups. I don’t know much about what happened.
Funny how we go through seasons of life. Sometimes things happen that make you go faster and hit harder. Other times things happen that make you slow down and pause.
Tell me something raw. -
2019-01-04 at 4:11 AM UTC in Should I open a Money Market Saving Account?
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2019-01-04 at 4:07 AM UTC in Should I open a Money Market Saving Account?
Originally posted by Erekshun The key is always to buy low and sell high, no matter WTF you deal in. Used cars are good, mobile homes (in most states). Buy something, with the intent of selling it for more than you paid for it. Fuck the stock market, banks, cd's etc.
Used cars? Mobile homes? Do not listen to this clown. -
2019-01-04 at 4:05 AM UTC in Should I open a Money Market Saving Account?
Originally posted by DietPiano Municipal bond ETFs
Like what, VTEB? MUB? SHM? TFI? Results have been lackluster this year. If it weren’t for the dividend yield, most would have lost money. Keep in mind, bonds mean debt and we have a major debit crisis.
I’m not saying there’s not a place for bond funds. Full disclosure, I have several in my portfolio. It just might be worth considering a CD ladder as a temporary place to park some money in a rising interest rate environment, especially in comparison to some money market accounts.
I’ll probably never buy a CD though. Not risky enough for my tastes. -
2019-01-04 at 12:11 AM UTC in Should I open a Money Market Saving Account?
Originally posted by DietPiano Put your money in a low volatility ETF while the stock market is still shaky. Fuck CD's
Examples please? I looked up a few “low volatility” ETFs and they all tanked along with the rest of the market in 2018, especially in December. Depending on his savings goals and how soon he wants to be able to use the money, a safe bet like a CD would be best for wealth preservation and inflation protection.
I agree, however, that CDs should not be considered to be long term investments. For that, stick to equities in the form of index funds that can be purchased as mutual funds or ETFs. -
2019-01-01 at 4:19 PM UTC in Should I open a Money Market Saving Account?
Originally posted by SBTlauien What's short? 3 years?
I still don't fully understand. If the APY is 2.50 then on a $15k deposit, that would yeild $375 a year, is that correct? So in three years, $1125.
Yeah, less than a few years would be considered short term.
You are correct in the calculation if it were simple interest. A $15k deposit with an APY of 2.5% would yield roughly $375 per year. However, you would end up with more than $1,125 after three years due to the magic of compound interest. If your interest is compounded monthly, which is usually the case (sometimes you get daily), then it would compound to a total 3 year yield of $1,167.