Great work "poster"

[Rustyiron]

They are two completely different things and your inability to see that is the problem.

Ahman, and even to compare the two is in effect agreeing with the whole student loan forgiveness. It's as foolish as reparations.
Notice how nobody really complains about the tuition COST only about it's financing. "Higher Education" is big business first, everything else is secondary.

 

[Sigarms]

yes in the spring he need at least 30k to be able to get going again mostly insurance cost … if he want something he wait to buy it cash but it’s getting old for him.

Insurance is non revenue overhead.

If he has a "successful" business apparently it's in his mind only as he is not charging appropriately for his services to cover for his insurance the following year if he doesn't have the money available for insurance the following year.

This is why basic math is so important to running a business.

Simple question to ask any any simple "trade" business owner... what is your cost of doing business percentage to sales? You need to be able to track it monthly, on a monthly profit and loss statement.

I had one guy tell me very proudly that he made 40k of pure profit for the year. I asked him how he did it. He told me he wasn't certain, but his accountant found it at the last minute before doing his taxes. The guy had no clue he should have been scared shiteless because as fast as his accountant can "find" money at the end of they, that same accountant can "lose" it as well.

 

[MossRoad]

This is another pipe dream by the American public.

For some reason, people think that "managers" make money and do nothing. The reality is, if you have a bunch of non revenue producing people being paid a high salary, good chance sooner or later your company will go out of business.

I've been in my career path close to 30 years now, am considered "management" in the HVAC industry, and yet from time to time, because I can actually drive a straight drive truck, still perform the SAME job duties I started out with 30 years ago LMAO. What people forget is sometimes if you want something done, you have to be able to do it yourself.

My one son, age 17 still in high school, works for Panera bread. Covelli's out of Ohio (who owns the Panera franchises where my son works), lost out on a class action lawsuit because they labeled people "managers" and decided not to pay them for the work they perform.

Kis v. Covelli Enters., Case No. 4:18-cv-54 | Casetext Search + Citator

Read Kis v. Covelli Enters., Case No. 4:18-cv-54, see flags on bad law, and search Casetext’s comprehensive legal database

casetext.com

End of day, they want to pay 19 year olds without experience as "mangers" so they don't have to pay overtime.

Read up on my sons issues at work here on this forum. Their management is a joke IMO and I would never go there again after as a "paying customer" after learning about them. I can say that because that same son has saved up a crapload of money working for them, and I don't think he'd care if they'd let him go because he's probably the best worker they have LOL

Yes, I've followed your stories on that subject. Kid is getting some good life lessons there.

 

[Sigarms]

Yes, I've followed your stories on that subject. Kid is getting some good life lessons there.

Please note, I don't talk about the other one "that much". Sad to say, some horror stories there as to a "work ethic" which makes me wonder what I do wrong as a parent.

 

[MossRoad]

One of my best life lessons as a son was my parents telling me that if I qualify for a bank loan for a vehicle (when I was younger), to come to them. They'd give me the loan, but with no interest payments.

Although my parents were cheap and lived within their means, they did love me and would loan me money. The expectation was that I would pay them back, which I did.

We'll do the same for our kids. As well as charge them rent when they turn 18 and still want to live with us, but save the "rent money" for them when they get older and more responsible with money and give it back to them as a present.

My parents always wanted me to become a better person then they were financially. I hope the same for my own children. That's the GREAT thing about America. Both sets of my eastern European grandparents came over in the early 1900's without a pot to piss in and were poor coal miners.

My parents did better than their parents, and I'd like to think we're doing better than ours while still living within our means and saving.

We went halvesies with our kids on their first cars for college. Oldest got out of college, decided she didn't like driving the old Silver Beast (beat up Sable), and bought herself a nice used Subara Legacy. We bought the beast back from her for half of what it was worth. It's our all-else-fails-put-a-battery-in-it-and-drive car.

We floated a loan for her for the Subaru out of our pocket. She keeps a spreadsheet on what she owes us and sends regular payments.

My wife's parents did the same as you are planning. They charged my wife rent when she got out of college, but gave it back to her when she paid off half of her student loan, which wiped that debt clean. She did not expect that and it was quite the surprise to her.

 

[Hay Dude]

Ive also had guys that work very hard for me that ask those silly questions. Some guys work really hard, but ask a lot of dumb questions or talk nonstop. Then some guys work slow & steady, but dont say a word all day. Its a lack of maturity

 

[MossRoad]

Please note, I don't talk about the other one "that much". Sad to say, some horror stories there as to a "work ethic" which makes me wonder what I do wrong as a parent.

My wife is darned near perfect. Her two siblings are, to put it mildly, a trip. Her parents have mentioned to my wife and me on many occasions that they can't figure out what happened between her and the other two to make them act the way they do. It's one of those mysteries of life, I suppose.

Our two kids are not opposites, but they are very different. I think it's just internal wiring.

 

[3 Horse Ranch]

If we're gonna consider a truck the same as a diploma (both tools to make a living), which is what Mike is doing, then they should both be treated the same. Right now, the truck loan can be ditched in bankruptcy, and the student loan cannot. To me, it's just that simple of an argument.

Then allow a student loan to be ditched in bankruptcy but also withdraw the diploma, then things would be still unequal. Even if one lost the diploma, they would still have the education and history that would still benefit them. A farmer or a contractor who loses everything through bankruptcy has only a failed business model to point to.

 

[Sigarms]

We floated a loan for her for the Subaru out of our pocket. She keeps a spreadsheet on what she owes us and sends regular payments.

I have to laugh. My dad is so cheap (he can really afford it but doesn't want to spend the money) he didn't want to spend the money "out of pocket" on a walk in tub for himself down in our basement (which he really needed and is thankful for now that he has it). Talked with my wife, told my dad that the contractor offered a 5 year 0% finance option that wouldn't cost him any of his savings out of pocket, and he could easily pay for it with his monthly income, and he went with it. We paid for it, and he's paying me back monthly thinking he's paying the bank.

My mom who passed in 2002 is certainly smiling I'm certain.

 

[Sigarms]

My wife is darned near perfect. Her two siblings are, to put it mildly, a trip. Her parents have mentioned to my wife and me on many occasions that they can't figure out what happened between her and the other two to make them act the way they do. It's one of those mysteries of life, I suppose.

Our two kids are not opposites, but they are very different. I think it's just internal wiring.

Same with my wife and her only sister. Both grown adults, one (my wife) who is analytical and who saves and has worked for the same company for the last 26 years, and the other who flies by the seat of her pants, even as an adult.

I was an only child. Everyone thinks an only child is spoiled. This is not my case when my father put in 25 years in the military.

With our boys, we can only pray hard for the one we worry about...