MS3 / Income thread !!!!!!!!!!!!!!!!!
- Thread starter flipstylex
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guy_incognito
Member
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- SS MS3 GT
26 y/o
Medical intern (1st year after finishing med school)
42.5k/yr, no bonuses, but some free cafeteria food!
I've still got another 5 years of 45-55k per year before I start making the typical doctors salary. Kudos to you all doing well, especially at a young age. Just don't envy a doctors income too much. I've already been in school for far too long, with incredibly high tuitions, and still won't be making better than average income until I'm in my 30s.
Medical intern (1st year after finishing med school)
42.5k/yr, no bonuses, but some free cafeteria food!
I've still got another 5 years of 45-55k per year before I start making the typical doctors salary. Kudos to you all doing well, especially at a young age. Just don't envy a doctors income too much. I've already been in school for far too long, with incredibly high tuitions, and still won't be making better than average income until I'm in my 30s.
Sacrilicious
boom boom!
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- Cosmic Blue MS3 of hawtness!
stirfryguy
Member
22 y/o ~11-12k working in grocery
looking for a marketing job in case anyone is interested
looking for a marketing job in case anyone is interested
heh. I work for the same in Dahlgren, Va
Hey, that wasn't bad info; I'm working on killing my debt right now. Not to threadjack, I'll make it quick.
I have student loans and the FED was raising my rate to 7.9% at the start of the year; 7.9%!!! That's HORRIBLE! I have credit cards with that fixed APR. SO I opened a new line of credit, one of those 'offers' you get, with a 0% on balance transfers for 18mos, provided I kept current on payments. Now I haven't paid any interest on my student loans all year; F U Uncle Sam! I have a second car I have always been in love with and garaged; now I have my MS3 and my second car is sitting in a garage an hour away, free mind you (g/f's mom's garage). It is still costing insurance ($50/year storage insurance) and time/effort to start it and run around the block once in a while. So I'm selling it to kill the rest of my card debt, about $4k student loans are nearly paid, 3 more mos, and $3k 'other' that the car sale will cancel out. Then I'll be debt free aside from my MS3 (at an awesome 5.69%), and next year we'll be buying a home (yay market keep tanking for me!). I'll pay less for the mortgage/insurance/property taxes than I do now for half rent (g/f and I live together) and renter's insurance, and that extra will be diverted right into savings/investments so I don't get 'used' to having more money since I'm already 'used' to having what I do now. Same goes for my end-of-year merit raise - automatically diverted so I don't ever see more money - living the same as we are accustomed. Have new furniture all over, we each have new cars ('07 Speed3 and '07 Civic Si), we can't really complain about not being able to go out or whatever because I know 50 year old couples without as much luck as we have, as many nice 'things' as we have. In the meantime, I appreciate my 7 year old 35" tube TV, and my PS2 and my original XBox. I took ALL the old videogames I have acquired since 1984ish and sold them at one of those in/out gamer stores. I pocketed about $500 cash and got $200 in credit which I used to pick up some missed old NES and SNES games - so I've treated myself and 'spent' without taking my wallet out, AND cleared space from our garage racks without missing a thing. Instead of dinners out, my g/f, her 6 year old, and myself now spend time at night as a family playing 2 player (turns) Super Mario Bros. 3. It's all about 'fooling' your money-burning-a-hole pleasure centers however you must and going to bed at the end of the night sated, and richer for not ordering a pizza or going out for drinks or buying a 42" plasma with a 360 and Halo 3. Find friends who have that s*** and enjoy their debt without the drawbacks!
Whew, sorry. Half appropriate though, the 'financial' thread. (breakn)
Sacrilicious
boom boom!
- :
- Cosmic Blue MS3 of hawtness!
whoa...hold up here...7.9% is only RELATIVELY bad...if the only interest rates you've looked at are in the last 10 years. before the internet bubble burst, 8% was one HELL of a deal! we're spoiled these days by our low interest rates. the only reason they're as low as they are is because the Fed had to go nuts lowering them in order to stimulate the economy after it got destroyed. as for the credit cards with the fixed APRs...if you read the fine print, those fixed rates are likely only fixed for a set amount of time before they go variable. prime is about 8% right now, if i'm not mistakened, so in order for the CC companies to make money, they're going to have to go well over that.
^I wasn't really 'aware' before college as to interest and such, but when I got out my interest rates on my student loans were something like 3.25%. They kept inching it up and until that notice it was around 4.9%, then all at once they were bumping me to 7.9% so I was pretty pissed... On the CC fixed APRs I have about a 750 score so I have hunted out some pretty nice deals, I have a corporate-sponsored CC from the company I work for with a fixed APR of 8.5% provided I don't go over my limit or miss a payment, and no annual fee - most of the other rates I see are 10.4% or so with the mail offers that come... ALL the time. I hate that s***. Banks are killing trees faster than we can cut them down, they're worse than the Vicky Secret catalogues. Lmao.
I don't know HOW they make money on my balance transfers - they get a small 'fee' when I transfer up front, but I think past that $35 or so they are counting on me NOT paying them off before the promotional 18 mos...
I don't know HOW they make money on my balance transfers - they get a small 'fee' when I transfer up front, but I think past that $35 or so they are counting on me NOT paying them off before the promotional 18 mos...
Sacrilicious
boom boom!
- :
- Cosmic Blue MS3 of hawtness!
haha...ya, interest rates for school loans used to be insane compared to our rates today. i was lucky and locked my staffords in while the going was still good and killed off my private loans separately. the way they get you on the balance transfers is not only with the fee, but by simply getting your business. what they're banking on is that the average person will do the balance xfer and then use the card for purchases. the fine print that many people don't look at is that the way paying credit card balances off works is that they apply the money to the LOWER interest rate things first...in other words, if you do a balance xfer of $1000 and then spend $100 on groceries, they get to keep charging you interest on the $100 until you've paid off BOTH the $1000 and the $100. it's a very effective policy overall, i imagine, or they wouldn't do it!
^That's 100% accurate on the balance transfers. Hehe, not this cookie; my cards with balances went right into a bottom drawer under the boxers I never wear, and I did the math to see what I had to pay per month to have it zero by the 18th month. If something comes/came up where it became apparent I couldn't pay it off for some reason or another, I am still getting those 0% offers - though now it's 15mos, and I will/would just wait until about 2mos are left on the term and flip it to another card and close the first account once's the balance is off there. Another option, though a little worse if you get carried away, is to pay the minimums or just $100 a month or something on these kind of deals, and then nearing the end of the 0% term just flip it to another card and close the first, you can accrue a TON of debt this way but it isn't immediately hurting you if you only pay out $86 a month or something. The only way it'll 'get' you is if you have something bad happen and either can't pay, or your credit takes a hit somewhere and you can't get another 0% offer near the end of the current one to segue the balance onto - then you're getting hit with 18 mos of deferred interest and it'll roll into the balance and snowball pretty quick. Hopefull our conversation will help someone in the threads, this is 10 years of knowin' I learned the hard way following some $10-odd-k of debt at the end of my frosh year in college when they throw all those cards at you.
Sacrilicious
boom boom!
- :
- Cosmic Blue MS3 of hawtness!
actually, as far as finding a 0% balance transfer offer, you can just call up one of your existing credit cards and threaten to cancel. in almost every case, the very first thing they will offer you is a 0% balance transfer to pay off some other card or balance.
this can be a damaging game to play, though. your credit will show an artificially high balance of revolving accounts owe. technically speaking, this will lower your credit, but if you're not worried about getting new loans at the time, this is a good way to save some cash if you're willing to put in the careful effort to manage things.
this can be a damaging game to play, though. your credit will show an artificially high balance of revolving accounts owe. technically speaking, this will lower your credit, but if you're not worried about getting new loans at the time, this is a good way to save some cash if you're willing to put in the careful effort to manage things.
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- '04 RX8
I hope I never have to learn the debt game
flipstylex
Member
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- Mazdaspeed 3, Cosmic Blue sport
this is regarding sacrilicious posts .. the credit part that you were talking about... I owe like 3000 on my credit card, 9 percent apr on it...
well, i 'm thinking about transfering it to a new credit card that has 0 percent apr on it for like a year , promotion. by doing this , my credit score will go down ??/ plz explain thx
well, i 'm thinking about transfering it to a new credit card that has 0 percent apr on it for like a year , promotion. by doing this , my credit score will go down ??/ plz explain thx
http://moneycentral.msn.com/content/Banking/Yourcreditrating/P136689.asp
Theres so many articles out there on how to beef up your score it's not even funny. Theres also simulators out there that will show you how your score will be affected by doing all sorts of stuff.
Here's one.. http://www.providian.com/cmc/fico_simulator.htm
I have a credit card through them that lists my credit score every month for me.
If you really want to pay off your debt, Don't concern yourself with rates, figure out the fastest one you can pay off with minimum payments and focus everything on that one till it's gone. Pay the minimum on the all the others. When one card is gone, add what you were paying to the minimum payment of the next and kill that one. Leave the accounts open so your debt/credit ratio gets better. Your credit score will increase due to that. Constantly shifting your balances around gets you charged a fee from 3-5% of the balance up front, and if you mess up by a day your looking at 29.99% interest in some cases. Doing what I just told you to do will have my car paid off in 19 months and my house paid off in 7 years. (I owe about 240 or so on the house). Consumer debt is not something to be triffled with.
Edit: Heres a better article: http://www.fool.com/ccc/debt/debt03.htm although the stuff they talk about borrowing from your 401k and Life Insurance plans is scary. Don't sacrifice your retirement for your financial blunders now.
Theres so many articles out there on how to beef up your score it's not even funny. Theres also simulators out there that will show you how your score will be affected by doing all sorts of stuff.
Here's one.. http://www.providian.com/cmc/fico_simulator.htm
I have a credit card through them that lists my credit score every month for me.
If you really want to pay off your debt, Don't concern yourself with rates, figure out the fastest one you can pay off with minimum payments and focus everything on that one till it's gone. Pay the minimum on the all the others. When one card is gone, add what you were paying to the minimum payment of the next and kill that one. Leave the accounts open so your debt/credit ratio gets better. Your credit score will increase due to that. Constantly shifting your balances around gets you charged a fee from 3-5% of the balance up front, and if you mess up by a day your looking at 29.99% interest in some cases. Doing what I just told you to do will have my car paid off in 19 months and my house paid off in 7 years. (I owe about 240 or so on the house). Consumer debt is not something to be triffled with.
Edit: Heres a better article: http://www.fool.com/ccc/debt/debt03.htm although the stuff they talk about borrowing from your 401k and Life Insurance plans is scary. Don't sacrifice your retirement for your financial blunders now.
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