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The Finances and Debt Thread

BMAN

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Yeah, I have 13 cards. I don't pay almost anything per year. If I do, I product change to a free card where possible. If it's not possible, I cancel. Doesn't effect credit much at all (hit after 10 years when it drops off your account - both bc your average age goes down, and bc you get a ding for cancelling - also a small hit at first because your utilization amount lowers so your total utilization goes up a bit).

Let me know how it goes when you call to get a retention offer. Some DP's are currently saying the standard offer is 20k points to stay with the card. If you're utilizing the 300$ credit, then the extra 20k points gets you closer to a net 0 total fee.
First attempt was not successful. Feels a little weird to do this too so I think I was studdering.
 

Ob1

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First attempt was not successful. Feels a little weird to do this too so I think I was studdering.
Keep trying. If you get turned down 4-5 times, then you're very likely not getting a retention offer. You could always PC to a freedom unlimited for 0$ in that case and wait until your 4 years are up to get the bonus again on the reserve.
 

BMAN

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Keep trying. If you get turned down 4-5 times, then you're very likely not getting a retention offer. You could always PC to a freedom unlimited for 0$ in that case and wait until your 4 years are up to get the bonus again on the reserve.
Yeah I’ll keep trying. I do like the Reserved though and I am able to afford the annual fee. Just seeing if I can get it waived you know?
 

Ob1

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Yeah I’ll keep trying. I do like the Reserved though and I am able to afford the annual fee. Just seeing if I can get it waived you know?
Doesn't hurt. Make sure not to ask for the fee waived. Ask for a retention bonus for keeping the card.
 

BMAN

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Doesn't hurt. Make sure not to ask for the fee waived. Ask for a retention bonus for keeping the card.
Yeah, made sure to mention retention instead of asking if they can waive the fee.
 

Ob1

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Yeah, made sure to mention retention instead of asking if they can waive the fee.
And they likely just quoted you all the benefits of the reserve?
 

Ob1

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Yep, try again. I normally try 5 times before I PC or just suck it up (only ever had to do that once, on my Hyatt card of all cards). I LOVE hyatt points though. I end up getting like 4 cents per point. I almost always transfer my chase points to hyatt too. 5k Hyatt places FTW (I dont need fancy when I go watch OSU play away games).
 

MGMT

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Can someone help me calculate cost of goods manufactured? I’m absolutely baffled without being provided overhead and other costs.
 

TopGun

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Can someone help me calculate cost of goods manufactured? I’m absolutely baffled without being provided overhead and other costs.

Is this for a class? What information do you have?

Typically the simplest method would be to add change in inventory to cost of goods sold.
 
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MGMT

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Is this for a class? What information do you have?

Typically the simplest method would be to add change in inventory to cost of goods sold.
I got it, but thanks boss. Simple as cost of goods sold minus ending finished goods plus beginning finished goods.

I was stuck on it for hours and now I feel like I don’t belong in this graduate program
 

2 For The Brew

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Is this for a class? What information do you have?

Typically the simplest method would be to add change in inventory to cost of goods sold.
That's actually incorrect as it makes no allowance for shrinkage, standard cost changes, scrap, return of goods shipped to customers or any other adjustment to inventory.

The simplest method is to sum up the value of everything that transfers from production to the warehouse or shipping. That method is also correct. In SAP total all of your 101 and 102 transactions for your finished goods. Other systems would have similar processes.
 

TopGun

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That's actually incorrect as it makes no allowance for shrinkage, standard cost changes, scrap, return of goods shipped to customers or any other adjustment to inventory.

The simplest method is to sum up the value of everything that transfers from production to the warehouse or shipping. That method is also correct. In SAP total all of your 101 and 102 transactions for your finished goods. Other systems would have similar processes.
Most classroom situations are dealing with theoretical high level overview, not an actual plant level detail.
 

The Process God

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I started this thread to detail my journey through debt, particularly my credit card debt. I am happy to say that, as of yesterday, I am completely credit card debt free. What's more is that my wife and I are about to close on a house on July 12th. I used the early wihlthdrawal exception for IRAs, where you can withdraw up to $10k for the purchase of a home. We are only putting 3% down, but the house is almost 500k, so waiting to be able to put down 20% would have taken years.

My new branch manager job at my credit union has been going very well. I may even be transferred to a bigger branch since some people have left recently. I am currently commuting an hour each way, but, with my up-and-coming move to my new home, that is about to be cut down to about 2 to 8 minutes each way, depending on which branch I end up at in the next month or two. I'm lining myself up to ask for a raise at my six-month review, which should be in the $5k to 10k range. I'll have to get the pay scale for my position, but I'm just going off of % increase for lower positions' jump in pay as you go up the pay scale.

Now we just have to get my wife working in Bellingham so she isnt commuting to everett, which is going to be 1 to 1.5 hours each way, depending on traffic.

I am going to try to refinance my student loans once I close on the house. One issue I'm worried about is that half of my student loans (~$26k) are locked up in my parents' home equity line of credit, so I'm not sure if I will be able to wrap that up in a student loan or if I will have to pay that off in another way. I want to get that off of my parent's backs so I can be as independent from them as possible even though I have been paying on those loans.

Gonna be applying for a few more rewards credit cards too now that my credit score is around 775 and I dont have to worry about mortgage lenders questioning every inquiry. Vantage West credit union offers 5% back on Costco purchases. Fort Knox credit union has a 5% back on gas card, which also works at costco. Alliant credit union offers a 2.5% unlimited card with no foreign transaction fees for 99 a year, which beats out any 2% back card as long as you spend at least 20k a year on it (we spent 40k on our 2% card last year). Finally, we want the costco credit card, more so for the special deals it unlocks for TVs, appliances, tires, etc (like warranties, 15% cash back, extra discounts) rather than the 2% back on costco purchases or 4% back on gas since the previously mentioned cards make the costco credit card pale in comparison.
 

DJTJ

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I started this thread to detail my journey through debt, particularly my credit card debt. I am happy to say that, as of yesterday, I am completely credit card debt free.
Fuck yeah, dude!! Weird to say to a stranger, but I've watched from afar, and am super proud of you! Really happy for you and your wife!
 

Misc Costs To Finish Browns Site

Total amount
$750.00
Goal
$750.00


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