have an idea for an epic ping group

Ted, 62, Austin TX

Career/Personal

• Retail Manager

  • $21 an hour, at least 40 hours a week

  • time and a half overtime

  • Around $3000 a month

  • No benefits, he's on his wife's

• Wife makes around $3500 a month

• "retail management is not my endgame"

• Spent 14 years working for Texas "Commission on State Emergency Communications"

  • Got a Master's degree because of this?

• Went to Art school at some point

• Went through a bankruptcy 6 years ago

  • All of this debt has accrued since bankrupcy

• Wife has probably the same number of credit cards timestamp

• He has $17'000 saved for retirement

Financials

• "Why is there so little invested?" timestamp

  • Boomer ramblings and deflection

• Self-scored - 5/10 timestamp

• 150k or so left on his mortgage

• Credit Card 1 (CreditOne) ($811) timestamp

  • $20 in new purchases, $20 in interest

  • Paid $75 on this

  • Minimum payment 30

  • Why Spend on his card?

    • "Our expenses are higher than our income"

• Credit Card 2 (Apple) (2115) timestamp

  • Minimum payment 67

  • $41 in interest accrued

  • Puts his life insurance payments on his card?

• Credit Card 3 (Discover) ($4196) timestamp

  • $69.50 in new purchases

  • Made a $100 payment, also made $100 purchase?

  • Minimum payment $84

  • $57 in interest

  • Lots of mobile games micro-transactions on this card (company called "Zynga")

    • "I was able to quit smoking, and drinking, but I can't quit this"

• Credit Card 4 (eBay) ($1'487) timestamp

  • Made a $75 payment

  • Minimum payment of $30

• Credit Card 5 (Lowes) ($535) timestamp

  • Made $50 in payments

  • $12 in interest accrued

  • $30 minimum

• Credit Card 6 (JC Penny) ($1'591) timestamp

  • Made 75 in payments

  • $40 in interest charged

  • $57 minimum payment

• Credit Card 7 (Venmo) ($753) timestamp

  • $30 minimum payment

  • $102 in new purchases, made $30 in payments

  • $15 in interest

  • Eating out and microtransactions on this card

• Credit Card 8 (Walgreens) ($441) timestamp

  • "I think that's the one that started it all, they had this display when you walk into the store"

  • $29 minimum payment

  • $12 in interest

• Credit Card 9 (Verizon) ($1'290) timestamp

  • He wanted to take advantage of the discount on the phone bill using the card to pay for it

  • $48 Minimum payment

  • $34 interest accrued

  • Made a $100 payment

• Credit Card 10 (Upgrade) ($1'272) timestamp

  • $72 minimum monthly payment

• Credit Card 11 (Upgrade) ($9'260) timestamp

  • Thinks he has two Upgrades because traveling?

  • $126 interest accrued

  • $474 minimum monthly payment

  • "Uhhh I I uh I run a non-profit"

  • "Some of these now that I think about it might have been expenses"

  • "Performing Arts Venue" - He's the president (doesn't get paid)

• Credit Card 12 (Sitco) ($378) timestamp

  • $29 minimum payment

  • $10 in interest

• Credit Card 13 (Chevron) ($128) timestamp

  • $29 minimum payment

  • $71 in purchases

  • 50 in payments

  • $2 in interest accrued

  • More mobile payments on this one

  • Playing "Empires and Puzzles" and a couple others

• Credit Card 14 (Ally) ($228) timestamp

  • $28 balance

• Credit Card 15 (Amazon) ($580) timestamp

  • $29 minimum payment

  • $14 interest

  • $50 payment made

• Credit Card 16 (At Home) ($45) timestamp

  • "Why wouldn't you just pay off $45?!"

• Credit Card 17 (Alta) ($0) timestamp

• Synchrony ($656) timestamp

  • $30 minimum payment

  • Made a $50 payment

  • Made $12 in purchases

    • It was Starbucks

  • $14 in interest accrued

• Credit Card 18 (didn't catch name) ($28) timestamp

  • 28 minimum payment

  • 70 cents in interest

• Credit Card 19 (NFL) ($1'474) timestamp

  • $39 in interest charged

  • Made $43 in purchases

  • $54 minimum payment

  • More in-app purchases

• Credit Card 20 (MGM) ($242) timestamp

  • "We went to Vegas"

  • $5 interest accrued

• Student Loans ($229'000) timestamp

  • he's in forbearance, doesn't know why, Caleb can't figure out why

  • 7.6% interest, 17'000 a year in interest if they ever start back up

  • "Yeah, I'll never pay that off"

    • "You're right"

  • "That servicing company is under investigation or something, it's in the news"

  • "Well it doesn't matter much I'll be dead before that's paid off... so I don't even consider that a debt"

• Mortgage ($122'205)

  • 3.8%

  • $1'268 monthly payment

• Synchrony Bank is where most of his cards are from timestamp

  • 

• Car

  • Doesn't have one, wife has a car, not paid for, newish because of a car accident that wrecked their old one

  • Used to have two

  • Both worked at home but he got laid off then when to retail

• Checking Account timestamp

  • 3'240 + 8'111 - 10'094 -> 1'259

  • Lots of eating out

  • A $100 Verizon payment here, not using the Verizon card since it's maxed out ]

  • More microtransactions

  • "That's how I pay my daughter, we give her money to help her live" timestamp

    • She's finishing up her undergrad

    • Boomer gets testy when question about this

• Wife debts itemized timestamp

  • Not even going to try writing these out, 28 different ones

$906 in interest is accruing a month (not counting Student Loans)

Should he consider bankruptcy? timestamp

• Total $379'000 ($122k of that is the mortgage), includes the student loans

Income/Spending Pie Chart timestamp

Lol he was renting out rooms. This is like the perfect outrage producing news story. This is a Rosa Parks moment people.

$30 for a hot dog is insane pic.twitter.com/CzX53csz1S

— Clown World ™ 🤡 (@ClownWorld_) April 23, 2024

It's Harry potter dollars tho

My local NY hot dog is like 14-18 euro without a drink.

So he should just get a job

A couple of other details:

• $320 a month for cigs and booze

• $200 for "fitness"

• $150 phone

• $100 eating out

• $80 App purchases

• No car so he ubers sometimes.

• 2 Big dogs

How was he even approved for this rental lol that's crazy.

Let's say the ticket on my car said if was for sale for 22k

I put a 12k down payment on it.

Walked out with a 72 mo loan and 330.00 car payment. (That includes a 72mo warranty)

2 weeks later I get the title and in the same envelope is a paper that says the purchase price was 32k.

I'm so lost someone help me.

Does that mean I actually bought a 32,000.00 2021 honda civic with 0 bells 0 whistles???

Isaac, Houston, TX

Career:

• 2022 - working as Sales Rep at a Tile store, making 3-4k a month while going to school full time

  • Left job to focus on classes because he was having issues

• Doing UberEats/Doordash, also getting money from his father

  • "If I need some I'll ask and he might send it"

  • He stopped doing the gig stuff because he injured his knee timestamp

    • Can't do regular Uber because his car does not qualify

    • Has a 2012 Corolla - later clarifies that it's above the miles limit

    • "My knee hurts when I drive"

      • He drove 3 hours over to Caleb, driving 3 hours back later.

      • Something to his meniscus

• Costco opening nextdoor - planning on getting a job there

• Was a Solar Salesman at the beginning of this semester but the company closed down?

Education:

• Studying Biotech (undergrad)

• 4th year but with credits he is a junior, will be finishing in 5 years

  • Had some issues during COVID, didn't pass a lot of classes - trying to make up for that now

• 2.0 GPA overall

  • "Yeah I just got to 2.0 last semester" timestamp

• "Yeah I passed one class... in COVID" timestamp

• Failed Intro to Biotechnology class timestamp

  • "I was passing that class up until the final"

  • Failed "Fundamentals of Chemistry"

• "Why'd you pick this major" timestamp

  • He thought it sounded interesting

  • "So what's your career path"

    • "What do you mean my career path?"

• "A 2.0 is good though" timestamp

• He's taking 26 credits this semester

  • "You can't do that"

    • "Can't do that at one college"

  • "I've learned a few new techniques this semester so I'm dialed in" timestamp

    • 'Like what?"

      • "ummmmm"

    • He's just taking adderall l timestamp

• Payments to "StudyPool" timestamp

  • Website where you "get help" on your assignments

  • "I would never cheat" - this site is definitely cheating

  • Looks like it's a per assignment basis - lots of these

  • $360 last month (allegedly splits with his friend)

• NBS Facts timestamp

  • $30 payment, he says he doesn't know what that is

Finances

• Put his all tuition on his credit cards timestamp

  • An Apple card specifically

  • "I haven't missed a payment"

• Spending a lot on eating out/misc bullshit

• Self-rated a 5/10 in finances timestamp

• Credit Card 1 ($14'715) timestamp

  • $548 minimum payment

• Should he consolidate his debt timestamp

  • If he could actually control himself yes

• Missed payment timestamp

  • He says he doesn't have any but there's $40 in late fees - he paid it a day late but confused this with the concept of a missed payment

• Reasoning for putting tuition on the CC timestamp

  • thought his dad would help pay it off

  • Dad had purchased a house but needed help with the down-payment - $15'000

    • Father is letting him live there rent free and considers this repayment? Not sure if I followed this right

• Coinbase and Robinhood timestamp

  • Invested in crypto?

  • Coinbase - $3'666 in 2021, down to $60 today

  • Robinhood - $6'006, down to $6?

Miscellaneous

• Oracle ad placement

• There's some sort of on-boarding video now timestamp

  • He didn't bother watching it

• Girlfriend gets time to talk timestamp

  • Didn't know how much debt he's in

  • "I think he's nervous he's not usually like this"

  • "He gets defensive when we argue so I think that's what he was doing with you"

  • Thinking about marrying him, wouldn't until he's out of debt

  • Guy's dad doesn't actually give him that much money

• Guy applied to show through Insta

So this is a complete compilation of all of LPG's posts on the /o/ board. He was a used car salesman and had countless examples of the most mind boggling financial self destruction. Tale after tale of poors deciding that yes, 29% apr on a car loan is perfectly fine if it means not having to be seen in a hyundai anymore.

This collection of stories is the perfect distillation of peakpoors, and I hope you all enjoy

Exposure to poor people reduces support for redistribution among the rich. https://t.co/axsjAmLMuL pic.twitter.com/4Y37ck7gSf

— Rolf Degen (@DegenRolf) April 19, 2024

The IRS played in everybody’s face this year. You either owed or got a small amount back. Either way, most of us were all cheated.

— BLH (@_RareDefined) April 15, 2024

Avery, 26, Austin, TX

Career:

• 44k at some car company "building cars"

  • paid hourly, thinks it's fairly stable 40 hours a week - 10 hours a day 4 days a week, sometimes 11 or 12

Personal Life:

• Wasn't her first choice to move to Austin, she moved here because her friend already works at the car company

• 800ish rent

• Most of this section got lumped into financials

Financials:

• Checking Account

  • Overdrafts

• "I live above my means"

• Credit Card 1 ($369) timestamp

  • Paid $45 on it

  • Made $116 in purchases

  • $10 in interest added

  • She tries to explain why she hasn't paid if off - she divides her payments between her paychecks???

    • Mentions at least 5 other credit cards

• Credit Card 2 ($450) timestamp

  • Disney Rewards Card

  • Minimum payment $40

  • because she used to go to Disney but hasn't for a very long time

  • Sally Beauty $50 purchase "on a whim"

  • Also some eating out

• Credit Card 3 (2051) timestamp

  • $73 minimum payment

  • $53 interest charged

  • $30 in new purchases

    • "I needed an outfit for a concert"

    • Actually she went to Taco Bell and a Boba Tea place

  • "I'm still making my payments, that's all that matters"

  • Mentions that she will be going to see a couple more concerts. 21 Pilots and a band whose name I can't make out

  • Claims the food purchases are justified

  • Some weird explanation about how she couldn't use her card to get a protein bar and water so she went to get taco bell instead? (I assume she means the vendor didn't have a card reader?)

• Credit Card 4 ($492) (Walmart) timestamp

  • 28 minimum monthly payment

  • No new purchases on this one?

  • She usually uses it but didn't this time?

• Credit Card 5 ($5'004) (Discover) timestamp

  • She bought a computer on there?

  • Minimum payment $125

  • Interest $104

  • She doesn't really understand how interest works and has been trying to pay slightly more than minimum on all her debts? timestamp

• Credit Card 6 ($136) (Hot Topic) timestamp

  • There's a $3 fee on it? "What do you mean fee"

  • $30 minimum monthly payment

• Student Loans timestamp

  • Something about her mother taking out student loans too on her behalf and she's paying for those as well? I didn't really understand this one

    • her mom's loan is on deferment but she's still paying it while on deferment (she really doesn't understand how interest rates work)

    • Later clarified that her mother used her brother's credit to take these loans out? He knew and approved it

  • Some talk about family situation, nothing super interesting she mentions that she likes to give expensive gifts, sees that as a need not a want

  • Didn't catch how much she's paying off for the mother but she herself has $5'162

    • Was paying it off while in school - went to school for theater, got degree

  • Going to go back to school for "advanced manufacturing" - her job is covering it? Community college (ACC)

• Caleb stimming timestamp

• "So what do you do when you are low on money on your checking account but only have your credit card to survive?" timestamp

• Car (Toyota Camry) (31'972 balance) timestamp

  • $650 monthly payment

  • Storytime - weird ex-boyfriend story

  • Purchased March 2023

  • 6 year agreement

  • She thinks a 9% interest

  • Scratched on the side, damage to the windshield

    • Heat damage on the windshield? Apparently you want to roll windows down when it's very hot?

  • valued at maybe 21'000

• Income 3617 timestamp

  • "I've never really checked my finances to be honest with you"

• Checking Account timestamp

  • Highlights a nintendo charge, some eating out, google play, playstation network

  • 5 overdraft charges in a row

  • She Klarna'd some tickets and a $100 Back to The Future Lego set

• Other people borrow money from her??? timestamp

  • Her mother borrows money from her sometimes about $100? Not every month? Just rarely???

  • She overdrafts

  • "That's only once"

    • "No"

• Funny drama confrontation about her future in society timestamp

• Confrontation over phone finances timestamp

Finances Pie Chart timestamp

According to a survey released last month by LendingTree, 62% of Gen Z-ers feel pressure to spend money and keep up with people around them — compared with the national average of 32%. Additional data released in March by Credit Karma shows that the average Gen Z-er's credit card debt is more than double that of millennials.

Common normie and neurotypical L

In 2023, the private personal-finance website Bankrate released a survey showing how influential social media can be when it comes to overspending. According to that study, 48% of social media users reported buying something impulsively that they saw advertised online, spending an average of $754 on impulse purchases in the previous year. Such spending habits were even more prevalent among Gen Z, with 60% of respondents ages 18-26 saying they'd impulsively purchased something they saw on social media in the last year

"Wow why do companies pay for ads they only work on boomers "

Well what are zoomers buying?

According to a 2022 Statista study, Gen Z uses social media more than any other generation, with over half of that population engaging with several platforms daily. From sponsored posts on Instagram to ads before and during YouTube videos, Gen Z is constantly being influenced on their most-frequented platforms.

TikTok has also been on the vanguard of integrating advertisements into regular content. The TikTok Shop allows creators to add links to their videos that go directly to the products they're selling, encouraging their followers to make purchases with just a few quick taps.

Chinese dropshipped influencer crap !zoomers the most tech savy generation