General Adulthood, Planning for the Future: Business, College, Budgeting, Investments, etc! $$$ - General

[QUOTE=Big Dumb American;51920078]Having little other choice, I've had to go full steam ahead on launching my real estate business with almost no reserve money, and it's extremely stressful. The costs just keep climbing, our checking and savings accounts are tapped out, my credit cards are maxed, and I can't even tell if we're going to be salient for the month. My fiancee is finally back in work, and I've been trying to pull in at least a trickle of money from running oddjobs for my new broker (mostly helping her put together the new office -- installing computers, assembling furniture, painting, etc). I think we'll scrape by this month, just barely, but I'm very concerned about the long-term. I have no serious prospects for clients yet, and even once I do sign an agreement, it will be two to three months before I see a payout from a closed transaction. I hate that we've landed in this position, and am kicking myself so fucking hard for choosing to take that vacation. We were [B]solid[/B] before that, but made an irresponsible choice to take our dream vacation on the [I]assumption[/I] that our income would be staying constant. We'd have been perfectly fine if it had. Hell, we could have probably swallowed even just ONE of us unexpectedly losing our jobs. For [B]both[/B] of us to get unemployed within [I]one day[/I] of each other though? [I]Fuck me[/I]. I spent two years of dedicated saving and cost-cutting to build a stable foundation for starting this business with low risk, and now I'm being forced to do it with [I]nothing[/I], and I'm scared and angry as hell. I will [I]never[/I] make any assumptions about my financial situation again. I just wish this hadn't been such a hard-learned lesson. Sorry for the pity-party, but I but really want to stress the important of maintaining your emergency account. If you have any liquid income, start funneling it towards a bad day before you need it. Then, when the worst does come to pass, it won't be quite as devastating. Save and store at [I]least[/I] three months of living expenses in a separate account. Six is better, but this is far from a perfect world. Prepare for the storm before it starts building, and don't let that emergency fund burn a hole in your pocket. Never assume you'll have time to build it back up again before you'll need it.[/QUOTE] This is the primary reason why I set up auto-debit to another account whose card, chequebook, etc. are kept in a safe deposit box in my primary bank. Money I don't see is money I don't spend. Every quarter I take a peek at the amount, break it down into long and short term investments,, file everything and then forget about it for another quarter. Thanks to fucking inflation, I'm just keeping my head above water to actually [I]grow[/I] money, but holy shit who knew saving could be so much fucking more than just stuffing it into a sock and throwing it under the mattress. Good luck with the business, mate - you're brave for gunning this under those conditions, but when you make it past this point, it'll be very useful for you to seek professional financial help to both manage your business finances [I]and[/I] your personal finances as well. Don't beat yourself up about the mistakes and don't consider the vacation a mistake either - it was a dream vacation, memories were made. That shit is [I]priceless[/I], your money troubles will pass and in ten years time, you'll only remember your money troubles as a sidenote to the memories of that vacation. I'm not sure about how your system works, but do you think it's possible for you to possibly network/partner with a bigger firm if it would ease the stress a little bit?

[QUOTE=Big Dumb American;51920078](hard times)[/QUOTE] I am sorry that things went from calm to crazy so rapidly, BDA. I will be hoping that your business does well and that you can recover from this quickly.

[QUOTE=Araknid;51920095]why the fuck is it so hard just to get a basic job like some shelf stocking in a supermarket fucks sake[/QUOTE] If you're overqualified for the job, a lot of companies don't like hiring folks like that because it means a loss of cost involved to train you (already overqualified for the role) to do the job, because you have the means to quit and move on to something more skilled/relevant to qualifications.

[QUOTE=snookypookums;51920121]If you're overqualified for the job, a lot of companies don't like hiring folks like that because it means a loss of cost involved to train you (already overqualified for the role) to do the job, because you have the means to quit and move on to something more skilled/relevant to qualifications.[/QUOTE] I'm not overqualified for anything

[QUOTE=Big Dumb American;51920078]Sorry for the pity-party, but I but really want to stress the important of maintaining your emergency account. If you have any liquid income, start funneling it towards a bad day before you need it. Then, when the worst does come to pass, it won't be quite as devastating. Save and store at [I]least[/I] three months of living expenses in a separate account. Six is better, but this is far from a perfect world. Prepare for the storm before it starts building, and don't let that emergency fund burn a hole in your pocket. Never assume you'll have time to build it back up again before you'll need it.[/QUOTE] This is what I'm struggling most with at the moment. Between rent out here and my 401k I'm putting like $100 a check into savings. I'm just praying nothing terrible happens between now and when I get out of my lease because once that happens I'm moving in with a friend and seriously will save about $500 a month on rent/utilities.

[QUOTE=Araknid;51920136]I'm not overqualified for anything[/QUOTE] Hmmm... I do function in a limited capacity as HR at my current studio. a) What is your approach to these jobs? b) Do you follow up with any of them? c) What's your results been like thus far? Any interviews, callbacks?

I have finished the last couple of classes to qualify for my associates, and am completing my bachelors in less than a year. Managed to hold my GPA at a 3.7 or so thus far and obtain dean's list every term, save one. I am setting up orientation for an internship I have been offered this week thanks to the [i]glowing[/i] personal recommendation of my professor, and am expecting to start in summer. I am anticipating that it will replace my IT job on campus of two years. Left my previous job on a high note (two potential references and a whole bunch of good friends). I have had my own share of fiscal irresponsibility, but have managed to recover from it and am all the wiser because of it. I am absolutely amazed at how fortunate I have been as of late, and I am investing all of my willpower into keeping myself motivated and seizing every opportunity I encounter to its maximum potential.

[QUOTE=Humin;51919632]What are the opinions on Honor Societies? I've got an invitation to join Phi Theta Kappa since my GPA surpassed 3.5.[/QUOTE] In college? There are only a couple truly good ones. Phi Beta Kappa and Phi Kappa Phi are really the only good ones AFAIK. Especially the former - it has a lot of recognition among older people in academia like most professors.

I found a co-signer for loans in Canada! Moving in 2018 now that I have another option to support my studies.

[QUOTE=Big Dumb American;51920078]Tough times.[/QUOTE] Not sure doing what you want to do during your current situation is what you should actually be doing. Sure if it succeeds you'll look back and think great but you've already said your credit is maxed, so surely you should be looking for a stable income not one that's based on a potential happening. This goes up shit creek and you're looking at what, best case declaring yourself bankrupt worse case homeless? You should be looking to make min payments on the cards and keeping a roof over your head not chasing a pipe dream with fuck all income. You've "no serious prospects" never mind negotiating with actual clients for a fee %. Apologies for the above if your GF is making dolla and covering it all but christ its financial suicide if she isn't.

[QUOTE=Boss;51922788]Not sure doing what you want to do during your current situation is what you should actually be doing. Sure if it succeeds you'll look back and think great but you've already said your credit is maxed, so surely you should be looking for a stable income not one that's based on a potential happening. This goes up shit creek and you're looking at what, best case declaring yourself bankrupt worse case homeless? You should be looking to make min payments on the cards and keeping a roof over your head not chasing a pipe dream with fuck all income. You've "no serious prospects" never mind negotiating with actual clients for a fee %. Apologies for the above if your GF is making dolla and covering it all but christ its financial suicide if she isn't.[/QUOTE] I appreciate the concern, and would generally agree with you, but all the wheels were already in motion at the time I lost my job. I can't rightly cancel it at this point, and thus have little other choice but to jump in full steam ahead. At this point, my best chance of breaking out of our current situation is to work my business. My fiancee [I]should[/I] be making enough to keep us solvent once she gets through the training period at her new job next week, but she'll be cutting close. If we aren't going to make it, I'll definitely have to get a part time job to help us keep our heads above water until I can start bringing in regular clients. Hell, I might just have to do that anyway just so she isn't shouldering all the pressure of getting our bills met.

Just had 4 months of one half of the team being unemployed so can kind of see what you're going through. If your GF is in it like I am she wont mind one bit.

So at my job being a waiter. ...Is it normal to get extremely bored an hour into the shift? I mean being super anxious of dropping shit or something doesn't help but it's just.. eh.

Totally normal. Working in food service can be pretty fucking boring. Sometimes you learn to be thankful for that though when you have a really busy night later on and you're like "fuck shit I wish there were less people here" but then when there's no people there you're like "shit fuck the time is going so slow I wish there was something to do" it's a vicious cycle but totally 100% normal for anyone working in a service industry honestly

[QUOTE=windows098;51927324]So at my job being a waiter. ...Is it normal to get extremely bored an hour into the shift? I mean being super anxious of dropping shit or something doesn't help but it's just.. eh.[/QUOTE] Yeah. I tend to use dead hours to think over stuff.

So, I'm looking for a career because my mom has made it pretty clear that "becoming the next Quentin Tarantino" is not steady enough. I need to get my GED, then I plan on going to community college, then getting a business degree, but after that, I'm kind of stumped. I've thought about being a criminal defense attorney but I heard somewhere that they make the least of all kinds of lawyers. Is this true? Is their a better lawyer to be to make the big money?

Anyone with work experience in jail/prison here?

[QUOTE=dannyketch;51928114]So, I'm looking for a career because my mom has made it pretty clear that "becoming the next Quentin Tarantino" is not steady enough. I need to get my GED, then I plan on going to community college, then getting a business degree, but after that, I'm kind of stumped. I've thought about being a criminal defense attorney but I heard somewhere that they make the least of all kinds of lawyers. Is this true? Is their a better lawyer to be to make the big money?[/QUOTE] Just off of google, they still make way more than the average american with the average being 78k a year. So if it really does seem like something you'd enjoy more than other kinds of lawyering, you should still be living quite comfortably off it.

working as pizza delivery with own car y/n? It seems like it'd be the quickest job I'd be able to get since shitloads of places are advertising for it

[QUOTE=Araknid;51929142]working as pizza delivery with own car y/n? It seems like it'd be the quickest job I'd be able to get since shitloads of places are advertising for it[/QUOTE] Pizza delivery is super easy to get a job for tbh. Just gotta be willing to show up to stranger's houses and make sure they pay you in full. From what I understand is that most places don't compensate you for gas, either, they just pay you like a dollar or two more. So depending on how many deliveries you make, it may or may not be worth it. Check [URL="https://www.glassdoor.com/index.htm"]Glassdoor[/URL] for job reviews. Some of them will tell you whether or not they got compensated while working there.

[QUOTE=Pascall;51929149]Pizza delivery is super easy to get a job for tbh. Just gotta be willing to show up to stranger's houses and make sure they pay you in full. From what I understand is that most places don't compensate you for gas, either, they just pay you like a dollar or two more. So depending on how many deliveries you make, it may or may not be worth it. Check [URL="https://www.glassdoor.com/index.htm"]Glassdoor[/URL] for job reviews. Some of them will tell you whether or not they got compensated while working there.[/QUOTE] Petrol isn't a problem since my dad is a mechanic and the whole family just pays for petrol using the business :v: Thanks for the link though, I'll have a look.

[QUOTE=Araknid;51929142]working as pizza delivery with own car y/n? It seems like it'd be the quickest job I'd be able to get since shitloads of places are advertising for it[/QUOTE] I've been delivering in my personal car for over two years, it's a great job. Rakes in the cash (minimum wage plus 30-100+ extra dollars per 4-5 hour night from tips and gas) and is fun IMO (since I like driving). I feel like knocking on a thousand doors and seeing a thousand faces has given me some sort of wisdom I wouldn't have otherwise. [QUOTE=Pascall;51929149]From what I understand is that most places don't compensate you for gas, either, they just pay you like a dollar or two more. So depending on how many deliveries you make, it may or may not be worth it.[/QUOTE] I get paid 56 cents per mile which more than covers gas (it's technically for wear and tear as well). If a place doesn't comp you for gas then don't work for them because that sucks, I've never heard of that.

[QUOTE=Araknid;51929142]working as pizza delivery with own car y/n? It seems like it'd be the quickest job I'd be able to get since shitloads of places are advertising for it[/QUOTE] Better get used to people answering the door almost naked. Or maybe round where I live is just weird.

How do I convince my girlfriend that buying a condo in Toronto is a bad idea? For anyone who doesn't know, housing prices in Toronto are stupidly high. Any kind of decent one will run you $400k+, which comes to $1300/month plus maintenance fees just to have a place to live, and that's if you're okay with being in debt for 20 years. She's obsessed with the idea of having a condo, specifically one with minimum 1 bedroom+den, but ideally 2 bedrooms so she can have her own massage therapy practice. Ultimately, I think it has something to do with her falling behind in life (she's 28 and going to college for a second time for massage therapy; she did music previously; never had much of a career as far as I know), so she's trying to catch up in a really short amount of time. Her older brother and sister have condos and her mother is pushing condo buying, so that isn't helping. I'm only 21, planning on moving out by the time I'm 23, and the idea of being that in debt for basically my current lifetime-again freaks the ever loving shit out of me. If we split it 50/50 it wouldn't be too out there, but again, that's 20 years of debt and I doubt we'd live in the same place for that long, and we both have student loans to pay for (her twice over) plus everything else involved in living by yourselves. I think she's slowly warming up to the idea, but it's still something that's there. She seems to have her whole life planned out and from what I can see it involves a lot of debt. [sp]We've only been together 8 months and we're already talking about moving out. Yipes![/sp]

[QUOTE=Alsojames;51929270]How do I convince my girlfriend that buying a condo in Toronto is a bad idea? For anyone who doesn't know, housing prices in Toronto are stupidly high. Any kind of decent one will run you $400k+, which comes to $1300/month plus maintenance fees just to have a place to live, and that's if you're okay with being in debt for 20 years. She's obsessed with the idea of having a condo, specifically one with minimum 1 bedroom+den, but ideally 2 bedrooms so she can have her own massage therapy practice. Ultimately, I think it has something to do with her falling behind in life (she's 28 and going to college for a second time for massage therapy; she did music previously; never had much of a career as far as I know), so she's trying to catch up in a really short amount of time. Her older brother and sister have condos and her mother is pushing condo buying, so that isn't helping. I'm only 21, planning on moving out by the time I'm 23, and the idea of being that in debt for basically my current lifetime-again freaks the ever loving shit out of me. If we split it 50/50 it wouldn't be too out there, but again, that's 20 years of debt and I doubt we'd live in the same place for that long, and we both have student loans to pay for (her twice over) plus everything else involved in living by yourselves. I think she's slowly warming up to the idea, but it's still something that's there. She seems to have her whole life planned out and from what I can see it involves a lot of debt. [sp]We've only been together 8 months and we're already talking about moving out. Yipes![/sp][/QUOTE] Dude, if it involves you being a party or getting saddled with that debt (or it seems like it in the future), you fucking talk that shit out or run. Hard no. If anything, be as stingy as you possibly can and sock all the savings you can muster, stick it in a bank and have that cash work for you early on because it's fucking amazing.

For just something practical, perhaps try getting her to stuff the amount of money it'd cost to live in it & service the debt monthly into a savings account for a few months, just to show how bad it hurts. [sp]adjusted for the situation ofc, I made a few assumptions.[/sp]

She's not worth it imo. Talk sense into her no matter how hard it is, because your relationship should not tear your life apart.

You ent happy you don't sign.

After a lengthy conversation last night, I think she's seen the light and is now looking at places to rent. We're still 2 years from moving out though, so it's not like it's an immediate problem. Glad I dodged that bullet though.

[QUOTE=Alsojames;51929270]How do I convince my girlfriend that buying a condo in Toronto is a bad idea? For anyone who doesn't know, housing prices in Toronto are stupidly high. Any kind of decent one will run you $400k+, which comes to $1300/month plus maintenance fees just to have a place to live, and that's if you're okay with being in debt for 20 years. She's obsessed with the idea of having a condo, specifically one with minimum 1 bedroom+den, but ideally 2 bedrooms so she can have her own massage therapy practice. Ultimately, I think it has something to do with her falling behind in life (she's 28 and going to college for a second time for massage therapy; she did music previously; never had much of a career as far as I know), so she's trying to catch up in a really short amount of time. Her older brother and sister have condos and her mother is pushing condo buying, so that isn't helping. I'm only 21, planning on moving out by the time I'm 23, and the idea of being that in debt for basically my current lifetime-again freaks the ever loving shit out of me. If we split it 50/50 it wouldn't be too out there, but again, that's 20 years of debt and I doubt we'd live in the same place for that long, and we both have student loans to pay for (her twice over) plus everything else involved in living by yourselves. I think she's slowly warming up to the idea, but it's still something that's there. She seems to have her whole life planned out and from what I can see it involves a lot of debt. [sp]We've only been together 8 months and we're already talking about moving out. Yipes![/sp][/QUOTE] My brother told my dad he wanted to move to Vancouver after the election, and he told him that the best he can afford was a mailbox. So maybe one of those talks? Now some actual advice: Maybe show her some numbers of what the cost will be with everything factored in and really explain how being in-debt just to have that nice location isn't something you want at such a young age. All I got to say is that you are 21 and shouldn't have to tag along for a ride like that just because someone else isn't seeing a long term picture. Just watch out for yourself and make sure you let her understand the reality of the situation.