OT: Death of the OT thread.

[vcv]

Are you talking about snow????
You are talking about snow.

Aren't you??...


vcv,
I am no expert, but typically you should be able to get a loan for up to ~2.5 times your annual income.

Oh yeah I know that much. But what you can get a loan for and what you SHOULD get a loan for...

I think the best way to do it is work it backwards. Made an honest monthly budget showing all bills, gas money, groceries, etc etc etc, give a good spending buffer for stuff like clothes shopping / car repairs / whatever, give a savings buffer that you'll stick to and feel comfortable with, and see how much you have leftover. Just doubling salary seems like a thirty second solution to a thirty year commitment.

Of course, just wondering what people think as a ballpark, a starting point.

I decided to look at what's on the market near where we are now in the range of 1.5x-2x more than what our house is worth, for curiosity sake. Damn are most of the houses here outdated and ugly. I think I saw 1 place I would seriously consider. Seems like at that cost, building might be the better option.

 

[A Storm of Swords]

Also, to anyone 18 or younger reading this, go to your local community college. Don't even think about an actual university. Unless you plan on making like $70k your first year out (lol), the weight of your crushing student loan debt will prevent you from ever doing anything.

Or just marry rich. I failed on that, too.

Yes, please do. Ensure my husband's job security.

 

[PlamsUnlimited]

I go to UB. I will cease to be getting violated by fees after this semester, as I will then be a resident of NY for a full year.

 

[aceface33]

Also, to anyone 18 or younger reading this, go to your local community college. Don't even think about an actual university. Unless you plan on making like $70k your first year out (lol), the weight of your crushing student loan debt will prevent you from ever doing anything.

Or just marry rich. I failed on that, too.

Good advice, but I should say that the way they have set up college loans for students these days, it's nowhere near as bad as it used to be. All student loans now go through the government and are required to offer an Income Based Repayment (IBR) plan. The IBR plan sets your payments at a certain percentage of your income- if you make below a certain threshold, you pay nothing. After 25 years of percentage based payments, they consider the loan paid off. I have a mountain of debt but somehow all my loans were public loans so IBR is available to me. I only pay like $80 a month.

It might be worth double-checking if it's available for you Afino- I was at St. John Fisher not long before you and even though my loans are serviced through Citibank/Sallie Mae they are public loans so IBR was available. The loan companies make the information about IBR almost impossible to find though, I had to call Direct Loans multiple times to get all the paperwork straightened out.

 

[Afino]

Okay. I have some through the direct loan program and then a ton (like 2/3) private. When I went through the DL consolidation years ago, they told me I couldn't get IBR with those or consolidate them.

 

[AV18]

Yeah, there are definitely more options now for federal student loans. But if you have private loans, you're still ****ed.

 

[Penalty Killa]

Of course, just wondering what people think as a ballpark, a starting point.

I decided to look at what's on the market near where we are now in the range of 1.5x-2x more than what our house is worth, for curiosity sake. Damn are most of the houses here outdated and ugly. I think I saw 1 place I would seriously consider. Seems like at that cost, building might be the better option.

Clock and I are pretty financially conservative. Our mortgage payment is less than 25% of our NET income. And yeah, a lot of the houses in the range you were looking at are probably big beautiful homes decorated with wallpaper and borders with pink carpets. We ran into that when we were house hunting. Our saving grace was finding our home with a brand new fully updated kitchen. Of course, 2 of our bathrooms need to be updated still, but that will come in time.

 

[Penalty Killa]

Also, I went to UB and have practically zero loans at the end of the day. You don't have to go to a community college. But I do think students should be better educated about the ramifications of student loans. Many just pick a school without understanding it. I know I had no clue. I just lucked out and picked a school with a reasonable price tag, RA'd and had scholarships to offset the cost.

 

[aceface33]

Also, I went to UB and have practically zero loans at the end of the day. You don't have to go to a community college. But I do think students should be better educated about the ramifications of student loans. Many just pick a school without understanding it. I know I had no clue. I just lucked out and picked a school with a reasonable price tag, RA'd and had scholarships to offset the cost.

What's wrong with Community Colleges damnit???

 

[Penalty Killa]

What's wrong with Community Colleges damnit???

Absolutely nothing, Professor Face. I just don't think it's the ONLY option.

 

[aceface33]

Absolutely nothing, Professor Face. I just don't think it's the ONLY option.

Fair enough.

I will say in my own defense, that I am a better History 101 teacher than anyone at UB. I used to TA for those Intro to World Civ classes and most of the History professors HATED teaching it. They would dread when their turn to do it would come up. The majority of them were mostly worried about their research and outside work and saw teaching undergrads as a nuisance.

 

[SackTastic]

It's all in how you manage your expenses.

I have a friend who went to a public school for undergrad, then went to Bona for her masters. She somehow has more in student loan debt than other friends I know who went to Bona for both degrees.

An ex girlfriend of mine went to Canisus, then back to RIT. While in Rochester, she paid for living expenses (private on-campus apartment!) and lived high on the hog with student loans. Now she's 6 figures in the hole without a job in her field, no prospects, and living with her parents at 29.

Just think. It's very easy to just sign paperwork and get that money. They make it easy for a reason.

 

[vcv]

Clock and I are pretty financially conservative. Our mortgage payment is less than 25% of our NET income. And yeah, a lot of the houses in the range you were looking at are probably big beautiful homes decorated with wallpaper and borders with pink carpets. We ran into that when we were house hunting. Our saving grace was finding our home with a brand new fully updated kitchen. Of course, 2 of our bathrooms need to be updated still, but that will come in time.

I would snatch your house up in a second even if I was remotely considering upgrading and it were on the market. Damn that is one fine kitchen.

Looking at our finances, an upgrade would still be less than 25% of our net (after any debt, which we have almost none), and that's before my wife's raise if she moves jobs. I like that, thanks PK Just don't tell my wife I'm considering it more and more now

 

[Afino]

I know I just need to get a better job. You know, one that I make where I'm worth.

 

[Afino]

Speaking of work, my cube was moved today. No, not to the basement....

My OCD/routine is not happy right now after being in one cube for six years

 

[Penalty Killa]

I would snatch your house up in a second even if I was remotely considering upgrading and it were on the market. Damn that is one fine kitchen.

Looking at our finances, an upgrade would still be less than 25% of our net (after any debt, which we have almost none), and that's before my wife's raise if she moves jobs. I like that, thanks PK Just don't tell my wife I'm considering it more and more now

Thanks!

House hunting was A LOT of fun. House selling was stressful (but your current house is nicer than the one we sold). And moving also blows chunks and you have twice the kids we do.

 

[cybresabre]

It's a lot cheaper than a mortgage to just move to your place of employment and live on the top floor. It's a no-gas commute and it gives you the advantage of being close to work!

Speaking of work, my cube was moved today. No, not to the basement....
My OCD/routine is not happy right now after being in one cube for six years

It's just the perfect time to create better routines, though.

 

[Myllz]

Speaking of work, my cube was moved today. No, not to the basement....

My OCD/routine is not happy right now after being in one cube for six years

I move this week, too. Except I'm going from a bullpen cube to a private office. This weekend should be fun when I get to move everything in and arrange all my furniture.

 

[Jim Bob]

I had an amazing weekend.

 

[Old Navy Goat]

I had an amazing weekend.

A few always makes my weekend better

 

[HockeyH3aven]

Anybody here familiar with Tablets? I've put off buying a laptop for the longest time, and I think I'm finally going to take the plunge with a Tablet. My ideal device would be:

- Android
- Fast CPU
- Lightweight & thin (7" or 10" doesn't matter much)
- Have an easy to use keyboard plugin
- Under $500

Any suggestions? I don't need 3G/4G, just Wifi. Amount of storage isn't a huge problem either.

 

[BuiltTagonTough]

Anybody here familiar with Tablets? I've put off buying a laptop for the longest time, and I think I'm finally going to take the plunge with a Tablet. My ideal device would be:

- Android
- Fast CPU
- Lightweight & thin (7" or 10" doesn't matter much)
- Have an easy to use keyboard plugin
- Under $500

Any suggestions? I don't need 3G/4G, just Wifi. Amount of storage isn't a huge problem either.

Asus Transformer Infinity. Top end of your price range but it is damn nice. The Prime is a step down in price (and performance) but is still a great tablet. Plus it has the expandable memory that the Nexus lacks.

I've got an iPad myself but would have bought the infinity with my tax return had it not been a Christmas gift.

And on another topic...just finished episode 7 of Burn Notice Season 6. What. The. Actual. ****.

 

[PlamsUnlimited]

I swear the kid across from me is eating dog.

 

[Old Navy Goat]

I swear the kid across from me is eating dog.

Dog is mighty good eating

 

[PlamsUnlimited]

It smells rank.