damn bills.

[MrTAteMyBalls]

hey dude. i can't say much because i've been a very poor money manager over the years. i want to give you some free advice though from personal experience.

DONT TAKE ANY STUDENT LOANS THAT YOU DONT NEED. seriously, the financial aid offices and banks will sell you that line of "it's the best loan you'll ever get" and "you need to build your credit for when you graduate."

It's a lie. It's not a good loan, and you shouldn't do it unless you need it. My friends and I all took out a buttload of loans we didn't even need because the financial aid office told us we should and that they are so easy to pay back. the truth is that you will get out of school 30000 in debt and the best job that most can find will pay 30,000 a year....with or without a degree. the way the interests compounds on these is very unfavorable. we pay nearly 300 dollars a month for my wifes loans and we will pay that for a total of 27 years.pretty much all of the payment goes to interest......it's not worth it.

just use what you need to get your degree and send the rest back. also, don't take out any credit cards while you are in school. trust me. i've been in debt since i started college and i'll likely be paying this off the rest of my life. no one had this talk with me, and i really wish my folks would have. I make good money now, but my credit cards and student loans cost so much every month i still am broke most of the time.

I hope this is helpful info if no one has ever told you this stuff.

 

[mkrtu9]

I'm sorry that you feel like you're getting flammed because your bros on here are kicking your butt a little. At least they care enough to stay something. I'd be worse if NO ONE responded to your thread or the response was "LOL!" and nothing more.

All I have to say to this thread is LOL!


But I wish I wouldn't have taken out so much on my student loans. I'm 33 and still paying them. If any semester you don't need the extra then give it back.

 

[xxfaux_punkxx]

Well, bro. It sounds like you need to do some thinking before you marry her. Sounds like she's as bad at managing money as my sister and doesn't want to talk about it because it's confusing, scary, and embarrassing. Either you need to get involved in this or you're going to have a LIFETIME of this same broke a$$ drama. If my wife was a poor money manager, I would jump right in there and take control of it--she might freak out at first cuz she'd be confused, but she would soon realize that I was rescuing her. Then I'd look like a friggin' hero to her (and that's what women want).

Well, like another poster said, "It's not the situation, it's the attitude..." Brother, you have to learn how to look at this stuff the right way. For example, if you owe $100/month on your loan and you payback $100/month MOST of that goes to the interest and you'll be paying on that loan for an eternity. If you pay $150/month back when you only owe $100/month, more will go toward the principle amount (the amount they are calculating your interst on). You'll be paying off more of the loan, paying it off faster, and causing the interest to drop. So, in your case, instead of paying $75/month you could be paying $100/month for 9 months (nearly a year!). That could really help you in the long run.
BTW, if you're credit is not good and/or you make very little money it's hard to get a loan from a private lender. If you look closely at it, you might find that your loan is gov't subsidized. I've had gov't subsidized student loans that were through private lenders. If you're talking about a straight private loan (like from a bank), dude, that's risky. They will sink your ship without mercy if you mess up on that. Banks don't play games.

Nobody made up any facts. We all used the facts you provided in your posts. Maybe you should have been more detailed to begin with. Sounds like your in this trouble because you don't want to listen to good advice or wisdom. People didn't respond the way you expected. That should tell you something. Most people try to know how much money they have and not walk around blindly.

sounds like sense. I'm goig for my Masters degree so it'll be quie sometime before I HAVE to pay back the loans. Not saying I won't if things turn around. As far as the loans gov. loans through lenders I need to check into tha because I didn't apply for any of the loans at an acual bank my school set them up.

Truth be told we can't afford where we live right now. That's why we have so many roomies and why we're hurting so badly. I've given her until the end of summer to catch up on the bills or I walk. I love her to death but if she won't talk to me about finance's an drops a bomb like this electric bill then the red flas go up. I've already found several places I could afford with plenty of money left over.

and for evey person to say "her credit is your credit" we're not married yet. We won' be married for another year and a half. So until she walks down the isle her credit and my credit are seperate.

for the record a "toy" is something you noodle around with when you're bored. I'm hoping to start gigging soon (before the end of th year) wich would make a gig amp an investment. Had this same arguement with my dad and ended up in a knife fight.

edit: already cut the check for the electric bill so the monies gone.

 

[totallyfrozen]

sounds like sense. I'm goig for my Masters degree so it'll be quie sometime before I HAVE to pay back the loans. Not saying I won't if things turn around. As far as the loans gov. loans through lenders I need to check into tha because I didn't apply for any of the loans at an acual bank my school set them up.

Master's degree?! Bro, you're smarter than this! And obviously, you're not a kid. Sometimes the heart shouts louder than the head, I guess.

...I've given her until the end of summer to catch up on the bills or I walk. I love her to death but if she won't talk to me about finance's an drops a bomb like this electric bill then the red flas go up.

True. I hate to say it but this is actually a very serious issue that you really need to put alot of difficult thought into. There's no reason that she shouldn't trust you with money issues if she's planning on being your wife. Not to make it sound cheap like you're buying her like a slave or something but it's the old "Let the buyer beware" situation. Statistically, they say 50% of marriages end up in divorce. Of those, they say MOST are because of money trouble. It's something to seriously take a look at. It ain't easy being you right now. I'm sorry you have to deal with this issue. Marriage experts say you have to "chose your battles". IMHO, this is one of those issues where you need to get involved and "do battle" if necessary. You can't hide from this one.

 

[xxfaux_punkxx]

Master's degree?! Bro, you're smarter than this! And obviously, you're not a kid. Sometimes the heart shouts louder than the head, I guess.

.

Not something I've ever had to deal with. Growing my parents never taught mea thing, juvi obviously didn't teach me anything, school was a joke. So it's pretty much trial and error. Taking in infromation only works if you have the information available..

 

[totallyfrozen]

Not something I've ever had to deal with. Growing my parents never taught mea thing, juvi obviously didn't teach me anything, school was a joke. So it's pretty much trial and error. Taking in infromation only works if you have the information available..

I totally get what you're saying. I didn't have any real parenting either. My family was heavy drinkers, fighters, and people who didn't want to be involved. My wife once told me that she was proud of me because I'm a "self-made man" (her words). I asked her what she meant and she pointed out that I didn't have any parenting or mentoring to speak of but I learned from hard knocks and ended up being "a good person" (her words). I've never been addicted to anything and I've never been to jail--so I guess that's cool. Sounds like you're a self-made man too. It's lonely and it sucks getting there but it's something to be proud of too.

I've paid off 2 student loans and 2 credit cards (used for school) already...but not before I got myself into serious financial trouble with them. Before I met my wife, I spent a whole year getting out of debt--and I made it! I paid off everything and had $0 owing on anything. I even ended up with $2,500 in the bank! I surprised even myself! It was really tough to do...and I didn't have a woman in my life when I did it. It took the entire year to do it too. I didn't have any extras and I didn't buy any musical gear (ouch!).

Anyway, that's why I've been all over this thread. I know how bad people can hurt themselves with being money f-ups. I was one!

 

[Dan Knowlton]

Just bing honest - my wife and I have had WAY more fights over money than any other thing in our marriage. Get the finances straightened out BEFORE you get married.

Take this for whatever you think it is worth - I've been married to her for 33 years now. AND she is still my best friend.

Dan K.

 

[xxfaux_punkxx]

I totally get what you're saying. I didn't have any real parenting either. My family was heavy drinkers, fighters, and people who didn't want to be involved. My wife once told me that she was proud of me because I'm a "self-made man" (her words). I asked her what she meant and she pointed out that I didn't have any parenting or mentoring to speak of but I learned from hard knocks and ended up being "a good person" (her words). I've never been addicted to anything and I've never been to jail--so I guess that's cool. Sounds like you're a self-made man too. It's lonely and it sucks getting there but it's something to be proud of too.

I've paid off 2 student loans and 2 credit cards (used for school) already...but not before I got myself into serious financial trouble with them. Before I met my wife, I spent a whole year getting out of debt--and I made it! I paid off everything and had $0 owing on anything. I even ended up with $2,500 in the bank! I surprised even myself! It was really tough to do...and I didn't have a woman in my life when I did it. It took the entire year to do it too. I didn't have any extras and I didn't buy any musical gear (ouch!).

Anyway, that's why I've been all over this thread. I know how bad people can hurt themselves with being money f-ups. I was one!

money can put a lot of stress on people, and when you're not used to having it and do get it you freak and don't know what to do other then buy what you want rather then make any wise moves.

I'll be straightforward though. I've been wanting to play bass since I was 12. If it wasn't for my student loans I still would be "just wanting to play" rather than actually being able to play. Now that I'm finally playing and getting well enough I want to play with others. Either by joining a band or by starting one of my own, that' can't be done unless I luck into a band with a bass rig for use or I come up with 3-400 for a rig of my own. Not making excuses here but as fellow musicians I'm pretty sure you would understand why first reaction when receiving the check was "bass rig" rather then bills or sending the money back.

 

[michael_atw]

I thought this was about the Buffalo Bills, but then I realized it's not even close to football season yet....

hahahaha I did too!!

I see a fellow WNY'er knows what's up.

But back to the thread. I'm still stuck on the $300/mo. electric bill that makes $900 after 3 months. How does anyone rack up a $300 electric bill in one month? You may want to see your Playstation 3, 4 laptops, the Wii, the 6 million watt stereo, turn off some lights occasionally when you leave for the weekend, and maybe not leave the tv on for 5 days straight...

 

[m_bisson]

$300 isn't attainable even during the summer when we have the a/c on all the time... are you running a grow op?

 

[VinKreepo]

This "using taxpayers money" crap needs to stop. Both me and my mom use our separate refund checks however we want... AND IT'S ALL FREAKIN' MONEY WE HAVE TO PAY BACK WITH INTEREST.

Grants and crap don't even begin to cover it all. I have scholarships out my butt because my family is a low-income family and it still doesn't cover the tuition. I have loans in my name and my parents name. 20% interest on some. oh did I spend my refund check on new gear? You bet. 500 went to a bass and a guitar. 500 I earned as a "scholarship" from performing in my college pep band. The other 1000 went to fixing my car [which my family uses a lot]. My mom's went to buying clothes for the family and a small vacation for all of us... the only one we probably we get for a good long while.

Any smart "taxpayer" remarks?

EDIT: I forgot to mention that over half my tuition is covered by those loans... that way no one gets the bright idea to say "well that 1000 came from our tax money." And half of the grants are from my college which gets money from private investors.

And before anyone says, "well don't get the extra loans" I had to because I needed 600+ for my books and tuition not covered. The only other loan I could get was a 2000 dollar loan. Hence the refund check.

 

[michael_atw]

As for work, anyone can find a job if they really want to work. It may mean a pay cut, it may mean working a shift at McDonald's or pushing shopping carts back into the local grocery store, but the work is there.

Exactly! I'm a recent college grad who has been making pretty decent money working at a trucking company on a dock. It's part-time (i.e. no benefits), but I get a pretty good paycheck. I don't mind it, but I know that the majority of my friends would run scared from a job like it. One thing I've learned in college is that college kids think that right when they get out of college they are gonna land their dream career. Immediately thereafter they write off 90% of the jobs in the classifieds until either their parents kick them out or they default on their loans.

 

[xxfaux_punkxx]

hahahaha I did too!!

I see a fellow WNY'er knows what's up.

But back to the thread. I'm still stuck on the $300/mo. electric bill that makes $900 after 3 months. How does anyone rack up a $300 electric bill in one month? You may want to see your Playstation 3, 4 laptops, the Wii, the 6 million watt stereo, turn off some lights occasionally when you leave for the weekend, and maybe not leave the tv on for 5 days straight...

apparantly you haven't been in my house because we only have 1 laptop. no game system. no cable. a cheap stereo, no washer, no dryer, a single window unit ac, and my pitiful 15watt amp.

of coarse we live on a well so our water pump is electric... oh and i forgot to mention living out in the middle of nowhere tends to only allow us one possible electric company. So I'll give you another shot as to why the light bill is so high.

 

[jsbachonbass]

I've noticed. oh well s*** happens. You guys will get over it. then we can all be buds again. Or you can form an angry mob and come get me.

Most of us who responded aren't out to get you, man. I think most of us saw a little of ourselves and all the bad decisions we made in the past. Most of us are wishing we had 40+ people verbally kicking our butt about 20 years ago.

 

[xxfaux_punkxx]

haha i kinda figurd as much. Trust me I'm young (only 22) so I know I make a lot of mistakes. I do appreciate the advice, and the check has come at a good time since I was able to pay off the electric bill again. Buy us a few months to figure things out.

 

[totallyfrozen]

This "using taxpayers money" crap needs to stop. Both me and my mom use our separate refund checks however we want... AND IT'S ALL FREAKIN' MONEY WE HAVE TO PAY BACK WITH INTEREST.

Grants and crap don't even begin to cover it all. I have scholarships out my butt because my family is a low-income family and it still doesn't cover the tuition. I have loans in my name and my parents name. 20% interest on some. oh did I spend my refund check on new gear? You bet. 500 went to a bass and a guitar. 500 I earned as a "scholarship" from performing in my college pep band. The other 1000 went to fixing my car [which my family uses a lot]. My mom's went to buying clothes for the family and a small vacation for all of us... the only one we probably we get for a good long while.

Any smart "taxpayer" remarks?

EDIT: I forgot to mention that over half my tuition is covered by those loans... that way no one gets the bright idea to say "well that 1000 came from our tax money." And half of the grants are from my college which gets money from private investors.

And before anyone says, "well don't get the extra loans" I had to because I needed 600+ for my books and tuition not covered. The only other loan I could get was a 2000 dollar loan. Hence the refund check.

If you have any money left, grab yourself an ice cold Coke and sit down. Catch your breath! You sound pissed!

What "refund" are you talking about? You said you and your mom got "refunds" that you have to pay back? Are you talking about your annual tax refunds? You don't have to pay those back; they're not loans. Tax refunds are like Unemployment benefits. They are not loans, they are money that you already paid to the gov't and are now getting back for your use. A payment that you receive from a loan or a scholarship is not a "refund" check. Now if you are trying to say that you paid for school up front and then you were reimbursed by the loans or scholarships, still--that's not the same as using taxpayer money for personal gain. Is that what you're saying? For example, you paid $1,500 to the school out of pocket while you were waiting for the loan to come through; then the loan sent you a check for $1,500 to reimburse your school costs. Is that what you're saying? If so, you still spent that $1,500 on school so it's legit.

Everybody's troubles are a little different. If you used your tax refund to buy instruments then you DIDN'T use "tax payer money"--you used YOUR money. If you got a subsidized student loan or Pell Grant or something and bought instruments, then you used tax payer money. If you won money in a scholarship and the rules of the scholarship ALLOW you to use the money for musical instruments, then it's no problem. If the rules DON'T allow that and you did it anyway...well...you get the idea. Using student loans and scholarship money to repair your car WHILE ENROLLED AND ATTENDING COLLEGE is usually acceptable because that's considered a living expense directly related to you pursuing your education. Sounds like you need to find easier ways to get money for school. Do you have a job? Sorry to keep bringing that up in this thread but my parents didn't help me out with one single cent. I didn't even live with my parents from the time I was 10 years old, but since my dad was a architect, the FASFA office decided that "my family" made too much money for me to get financial aid (for a few years anyway). So I ended up working 2 or 3 jobs to pay for college when I was a student. My advice, get a job and try not to borrow more than you need.

The bottom line is that all that money comes with rules. Read the rules and you'll know what you're allowed to spend it on and what you can't spend it on. I know one girl who got a big, whopping college scholarship because she was a minority and she used the money to take her mom & sisters with her to Vegas to go gambling (she told me all this!). After that, she withdrew from school because she never inteded to attend college anyway. That was illegal. She could face heavy fines, law suits, maybe even jail time. Now she's in debt up to her eyeballs and since she didn't finish college, she can't earn enough to pay it off. Sucks to be her.

 

[michael_atw]

apparantly you haven't been in my house because we only have 1 laptop. no game system. no cable. a cheap stereo, no washer, no dryer, a single window unit ac, and my pitiful 15watt amp.

of coarse we live on a well so our water pump is electric... oh and i forgot to mention living out in the middle of nowhere tends to only allow us one possible electric company. So I'll give you another shot as to why the light bill is so high.

Here's one:

[Invalid or Expired Link Removed]

As this shows, the cost of running a water pump is only 2 times more than a tv. At 7 cents per kw/hr, it only costs $3 a month for the average person. Although...a house/apt. could push $5 if they took 3 showers a day..

Link Removed

That is a chart that shows average energy costs by state. It may not be comprehensive as to where you are living, but it gives a general sense. Your location says Indiana so on this it says 8 cents per kw/hr. So your water pump might be pushing $10 a month.

Just sayin'.

I live in NY, where everything is more expensive. My power cost includes tv, 2 computers, lights, amps, etc. I shell out $50 a month with my roommate. However, Western NY has a low cost of living and low power costs...so my experience may be skewed. In any case, water pump or not...you're getting robbed blind. Even with the A/C running 24/7, you shouldn't even be pushing $100 a month. You might want to get that checked out.

 

[xxfaux_punkxx]

If you have any money left, grab yourself an ice cold Coke and sit down. Catch your breath! You sound pissed!

What "refund" are you talking about? You said you and your mom got "refunds" that you have to pay back? Are you talking about your annual tax refunds? You don't have to pay those back; they're not loans. Tax refunds are like Unemployment benefits. They are not loans, they are money that you already paid to the gov't and are now getting back for your use. A payment that you receive from a loan or a scholarship is not a "refund" check. Now if you are trying to say that you paid for school up front and then you were reimbursed by the loans or scholarships, still--that's not the same as using taxpayer money for personal gain. Is that what you're saying? For example, you paid $1,500 to the school out of pocket while you were waiting for the loan to come through; then the loan sent you a check for $1,500 to reimburse your school costs. Is that what you're saying? If so, you still spent that $1,500 on school so it's legit.

Everybody's troubles are a little different. If you used your tax refund to buy instruments then you DIDN'T use "tax payer money"--you used YOUR money. If you got a subsidized student loan or Pell Grant or something and bought instruments, then you used tax payer money. If you won money in a scholarship and the rules of the scholarship ALLOW you to use the money for musical instruments, then it's no problem. If the rules DON'T allow that and you did it anyway...well...you get the idea. Using student loans and scholarship money to repair your car WHILE ENROLLED AND ATTENDING COLLEGE is usually acceptable because that's considered a living expense directly related to you pursuing your education. Sounds like you need to find easier ways to get money for school. Do you have a job? Sorry to keep bringing that up in this thread but my parents didn't help me out with one single cent. I didn't even live with my parents from the time I was 10 years old, but since my dad was a architect, the FASFA office decided that "my family" made too much money for me to get financial aid (for a few years anyway). So I ended up working 2 or 3 jobs to pay for college when I was a student. My advice, get a job and try not to borrow more than you need.

The bottom line is that all that money comes with rules. Read the rules and you'll know what you're allowed to spend it on and what you can't spend it on. I know one girl who got a big, whopping college scholarship because she was a minority and she used the money to take her mom & sisters with her to Vegas to go gambling (she told me all this!). After that, she withdrew from school because she never inteded to attend college anyway. That was illegal. She could face heavy fines, law suits, maybe even jail time. Now she's in debt up to her eyeballs and since she didn't finish college, she can't earn enough to pay it off. Sucks to be her.

sounds like you have a lot of expierence with this. I lucked out and because I was in Juvi between 15 - 17 I was considered a ward of the state and my parents income didn't matter when I applied for FASFA. Also because I'm on disability (I'm legally insane and attemped suicide on a job site) I was able to get most of my college paid for by use of the pell grant. Less than half of my education is by student loans actually, but like I said before I'm going for a Masters in Graphic Design so even though most of my college is free the loans that I do have will be triple by the time I actually graduate.

As far as parents go... mine didn't even want me to attend college. Told me it was a bad idea and thatI wouldn't make, and be stuck with bills I can't pay. So i'm gratefull that my screw-ups had some benifits.

 

[xxfaux_punkxx]

Here's one:

[Invalid or Expired Link Removed]

As this shows, the cost of running a water pump is only 2 times more than a tv. At 7 cents per kw/hr, it only costs $3 a month for the average person. Although...a house/apt. could push $5 if they took 3 showers a day..

Link Removed

That is a chart that shows average energy costs by state. It may not be comprehensive as to where you are living, but it gives a general sense. Your location says Indiana so on this it says 8 cents per kw/hr. So your water pump might be pushing $10 a month.

Just sayin'.

I live in NY, where everything is more expensive. My power cost includes tv, 2 computers, lights, amps, etc. I shell out $50 a month with my roommate. However, Western NY has a low cost of living and low power costs...so my experience may be skewed. In any case, water pump or not...you're getting robbed blind. Even with the A/C running 24/7, you shouldn't even be pushing $100 a month. You might want to get that checked out.

Statistics don't mean much to the individual. the way to gain an average is you add all the numbers then devide so let' say someone is paying .08pkh while someone else is paying .20 pkh.... see where I'm going with this. I know where getting robbed blind but we don't really have much options. You should see the mess we have to deal with to get internet access.

 

[totallyfrozen]

...Your location says Indiana so on this it says 8 cents per kw/hr. So your water pump might be pushing $10 a month.

Just sayin'.

I live in NY, where everything is more expensive. My power cost includes tv, 2 computers, lights, amps, etc. I shell out $50 a month with my roommate. However, Western NY has a low cost of living and low power costs...so my experience may be skewed. In any case, water pump or not...you're getting robbed blind. Even with the A/C running 24/7, you shouldn't even be pushing $100 a month. You might want to get that checked out.

That's an intersting point. If the power's in her name, they may not talk to you about it. Still, I'd try to find out what's going on. It could be that there's been an account mix up or something and the power co. is billing you for your neighbor's power too. I've had $200/month phone bills before. I've NEVER heard of a power bill that high inless you're talking about a commerical or industrial business.

If this is a monthly bill, it sounds like you're getting hammered into oblivion by late fees and other add-ons.