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Money Advice
https://www.mlbppworld.com/viewtopic.php?f=1&t=8944		 Page 1 of 2
Author:  Alloutwar [ Thu Nov 06, 2014 3:19 pm ]
Post subject:  Money Advice
Anyone need it? I'm kind of a financial nerd, and I like solving problems or helping people out of holes, or into better situations money-wise.

**I am not a professional**
Author:  BrewersFuzz [ Thu Nov 06, 2014 4:30 pm ]
Post subject:  Re: Money Advice
If I want to hire this hooker, how much should I spend?

There's this one decent looking one for like $150 an hour, but then there's one who I think might be my grandma for only $30... What should I do?
Author:  Alloutwar [ Thu Nov 06, 2014 4:44 pm ]
Post subject:  Re: Money Advice
Never spend money on a hooker. First its gross, you can get diseases even from kissing one, but secondly it's a waste of money. The benefit will only last a few hours, and then your body will return to its former state. Spending large sums of money on transient joy is questionable at best, and when you add in the danger and illegality, let alone how people (especially women) would look at you in the future, its just too much negative, not enough positive.

There are a lot of good to great women out there who will gladly engage in personal, physical contact after a short period of dating and getting to know one another. Just be careful - if they're doing it on the second date with you, they've probably done it on the second date with other guys first.
Author:  dishnet34 [ Thu Nov 06, 2014 5:05 pm ]
Post subject:  Re: Money Advice
In the next a couple years, I'm planning on transferring to a four-year college after getting my Associate's at a Community College. I have not had to pay for college so far (I've gotten by on a dean's scholarship and FAFSA so far at CC), but am a bit worried about paying for a four-year college. Will the FAFSA and maybe a couple scholarships get me by with a four-year college, or would I have to take out a student loan to go along with it?
Author:  SkittleMonster [ Thu Nov 06, 2014 5:20 pm ]
Post subject:  Re: Money Advice
Alloutwar wrote:
Never spend money on a hooker. First its gross, you can get diseases even from kissing one, but secondly it's a waste of money. The benefit will only last a few hours, and then your body will return to its former state. Spending large sums of money on transient joy is questionable at best, and when you add in the danger and illegality, let alone how people (especially women) would look at you in the future, its just too much negative, not enough positive.

There are a lot of good to great women out there who will gladly engage in personal, physical contact after a short period of dating and getting to know one another. Just be careful - if they're doing it on the second date with you, they've probably done it on the second date with other guys first.

So does that mean the $30 is the better choice?
Author:  Alloutwar [ Thu Nov 06, 2014 5:34 pm ]
Post subject:  Re: Money Advice
So the FAFSA is the free application for federal student aid - which can result in grants (like the Pell), but also can result in loans. Loans obtained via the FAFSA will have to be paid back, but that's all after graduation, which is why you can effectively get by paying nothing today. So first question is, is any of your aid from loans today? And if so, are they subsidized or unsubsidized?

Prices at four-year colleges and universities vary widely, so really it is best to identify your choices and find out their tuition rates. Also important is the living situation - are you living on-campus or commuting. There are other minor pieces like insurance waivers if you are still on your parents' plan.

In most cases you can certainly expect to owe something, usually in loans, at the end of a 4 year degree. You usually need a combination of brilliance and severe financial hardship to get a full ride (or, you are good at SPORTS! yay America!). The good news is that there are more than enough loan options out there so that you won't have to pay much out of pocket aside from books and normal life expenses. The trade off is that once college ends, you'll start getting hit with loan interest and will have a huge debt hanging over your head.

If you go to a state university, that cost will be low and decently affordable. If you go to a private university that will be much higher. For instance, I was looking at a master's program that is offered by both University of NC Charlotte, and Northeastern University. The cost of the same degree at Northeastern is about 8x what it is at UNCC. Some people consider the name important, especially if it's an Ivy League school. Others consider the bachelor's degree obsolete or even a waste of money at this point, but really getting it can only help unless you are a technology whiz or naturally great in your industry. The MBA, well that's more debatable...definitely think hard before spending the time and money on that.

Bottom line: find out what the FAFSA ended up giving you that isn't pure grant/scholarship, and see what you already owe. Then let's look at tuition rates for your top 2-3 four-year school choices.
Author:  Alloutwar [ Thu Nov 06, 2014 5:39 pm ]
Post subject:  Re: Money Advice
SkittleMonster wrote:
So does that mean the $30 is the better choice?


No. Both are bad choices. It's like voting in a Republican primary.
Author:  BrewersFuzz [ Thu Nov 06, 2014 6:03 pm ]
Post subject:  Re: Money Advice
From what I've been told, it's really hard, but avoid student loans like the plague.
Author:  dishnet34 [ Thu Nov 06, 2014 6:16 pm ]
Post subject:  Re: Money Advice
Alloutwar wrote:
So first question is, is any of your aid from loans today? And if so, are they subsidized or unsubsidized?

I have no loans whatsoever, Pell Grant and dean's scholarship is all I'm going off of right now.

Thanks for the response! I definitely learned some things today.
Author:  Zumikaku [ Fri Nov 07, 2014 2:13 pm ]
Post subject:  Re: Money Advice
dishnet34 wrote:
Alloutwar wrote:
So first question is, is any of your aid from loans today? And if so, are they subsidized or unsubsidized?

I have no loans whatsoever, Pell Grant and dean's scholarship is all I'm going off of right now.

Thanks for the response! I definitely learned some things today.

Dish, if you've got a dean's scholarship at your Community College, then you should definitely look at the website of any University you're applying to and see if they have merit-based scholarships you can apply for (some are given when you're admitted, others are separate applications). Try to get in contact with an admissions officer too.
Author:  Alloutwar [ Sun May 22, 2016 1:14 pm ]
Post subject:  Re: Money Advice
Opening this up again for discussion, because I officially passed 800 in my credit score today.

What is actually taught in regards to personal finance in schools today? I took Accounting, which basically showed me general ledger and debits/credits, and how to write a check...otherwise, I was on my own, and until I hit 21 or 22 and taught myself everything, I was pretty ignorant of all things financial.

Did your high school have a general finance class? Did you learn about credit cards? Interest rates? Payday loans? credit score? The three credit agencies and reporting and all that? We're lucky today, since it's all on the internet, but feel free to ask something here if you want.
Author:  dishnet34 [ Sun May 22, 2016 1:39 pm ]
Post subject:  Re: Money Advice
I think the only class I had in high school that was even remotely close to that was a Consumer's Math class I took my sophomore year. I was the only non-senior in that class, and the class, for about half the semester, was taught by a college student-teacher. But I did learn a little bit about writing a check, saving money, the difference between debit and credit cards, and the stock market. We even had a semester-long activity where we faux-traded stocks using a website I can't remember the name of.

I really don't remember too much from that class, but that was as close as I can get to remembering what went on in that class.
Author:  AgentP [ Sun May 22, 2016 1:50 pm ]
Post subject:  Re: Money Advice
We had a one-semester Economics class this year and we learned about most of the stuff you listed -- different types of loans, how to maintain/improve credit, etc.

I also had to take a financial literacy course online before college orientation but that was only about a 3-hour thing
Author:  Alloutwar [ Sun May 22, 2016 2:04 pm ]
Post subject:  Re: Money Advice
nice. that's good. I think high school should have to teach a little bit of that real-life stuff, money and personal finance, maybe the basics of a house or car maintenance…many high schools don't even require the 2nd language anymore, whats with that. In Mass. I had to take at least 2 years, and 5 was preferred, so you hit AP in senior year. Here in NC some kids learned like "donde esta el bank" in spanish and that's it, for life. Gross.

@dishnet - was the stock site called Marketwatch? I used that last year while I was preparing to manage my retirement in the market. It was good practice - not as restrictive as real life, but OK. Jag joined me in that game I believe :)
Author:  dishnet34 [ Sun May 22, 2016 2:17 pm ]
Post subject:  Re: Money Advice
Alloutwar wrote:
@dishnet - was the stock site called Marketwatch? I used that last year while I was preparing to manage my retirement in the market. It was good practice - not as restrictive as real life, but OK. Jag joined me in that game I believe :)

Looking at the site, it might've been, though I'm not quite sure. It does look similar, though.
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