People that brag about their money

[Jay Bilzerian]

You only get dinged on hard pulls. The whole credit system is stupid. They can take it in a second but it takes months and months to repair unless you do a rescore but that’s an unbelievable pain to do.

Lenders/realtors have figured out how to get those rescores done damn near instantly. It’s fucking ridiculous

 

[gtlacey]

More for the feds to take when China wants their money back

Japan*

https://ticdata.treasury.gov/Publish/mfh.txt

Even then, we only owe Japan $1.08T and China $800b (both less than 3.4% of total debt outstanding).

 

[Havoc34]

Does anyone know what the history is behind getting "dinged" for checking your credit score? You'd think they'd want people to check it to see where they are. What is the purpose of lowering it for checking it?

You’re dinged on hard pulls because it suggests you’re attempting to add more debt to your history. While tools like credit karma are good to as least keep an eye on things, you won’t truly know what your score is unless you do a hard pull. The annual credit report you can get for free is a hard pull that doesn’t ding you, and it more resembles the fico model that banks and lenders use.

 

[Havoc34]

Lenders/realtors have figured out how to get those rescores done damn near instantly. It’s fucking ridiculous

If you have good people in your credit department these don’t take long

 

[Jay Bilzerian]

If you have good people in your credit department these don’t take long

Yup. Anything to push a deal through

 

[Toe]

Does anyone know what the history is behind getting "dinged" for checking your credit score? You'd think they'd want people to check it to see where they are. What is the purpose of lowering it for checking it?

That's mostly overblown. It's mainly just if they do a 'hard pull' on your credit report that it can ding you. Normally a hard pull is only done if you're opening a new account. The reason you can get dinged is because it looks like you're trying to open a bunch of new accounts at once - like shit just hit the fan for you and you're trying to get a bunch of loans or credit cards at once. Even then, I don't think the penalty is very large - other factors will largely outweigh it, and the damage is likely temporary.

Note that some lenders aren't always clear on what type of pull they're going to do if you're trying to get pre-qualified for a loan. When I took out my mortgage, I went rate shopping, and some of the lenders I looked into apparently did do hard pulls. I had to sign a thing with the lender I ultimately used that said 'these hard pulls from lenders X, Y, and Z did not result in a new loan being issued'.

 

[Havoc34]

Yup. Anything to push a deal through

Especially with the market the ways it’s been with rates.

 

[BIG TONE SOPRANO]

Lenders/realtors have figured out how to get those rescores done damn near instantly. It’s fucking ridiculous

Anyone can do it. Just takes some time and of course a fee depending on how many tradelines you need to do it for.

 

[BIG TONE SOPRANO]

That's mostly overblown. It's mainly just if they do a 'hard pull' on your credit report that it can ding you. Normally a hard pull is only done if you're opening a new account. The reason you can get dinged is because it looks like you're trying to open a bunch of new accounts at once - like shit just hit the fan for you and you're trying to get a bunch of loans or credit cards at once. Even then, I don't think the penalty is very large - other factors will largely outweigh it, and the damage is likely temporary.

Note that some lenders aren't always clear on what type of pull they're going to do if you're trying to get pre-qualified for a loan. When I took out my mortgage, I went rate shopping, and some of the lenders I looked into apparently did do hard pulls. I had to sign a thing with the lender I ultimately used that said 'these hard pulls from lenders X, Y, and Z did not result in a new loan being issued'.

If those mortgage pulls were in the same time frame ie a few days or within a couple weeks they only count as one. Similar to when you buy a car and there looks like there are 10 pulls. It’s like a spiderweb to see who takes the loan.

 

[Herbie]

Where I live $100,000 is near the poverty level. I mean that with all sincerity.

Not surprised.
100k doesn’t really mean much in a lot of areas. Definitely skews OPs tweet

 

[Havoc34]

If those mortgage pulls were in the same time frame ie a few days or within a couple weeks they only count as one. Similar to when you buy a car and there looks like there are 10 pulls. It’s like a spiderweb to see who takes the loan.

This is true. They give you a shopping period. It varies depending on the bureau and fico model.

 

[Herbie]

Where’s my 6 figure bad with money bros!

Wife has a remote job and we’re thinking of me switching over to a remote inside sales job at the tech company I work for.
Want to move to floroda. What’s the best stupidly priced area to move to

 

[Jim14510]

Does anyone know what the history is behind getting "dinged" for checking your credit score? You'd think they'd want people to check it to see where they are. What is the purpose of lowering it for checking it?

I think the logic is you're trying to get more debt.

 

[Cash68847]

Exactly. We're very lucky to have a quality daycare with very good, quality, caring teachers.

The one thing that swayed us to going the daycare route vs in-home care from nanny or family members was 1) building social skills with peers and other authority figures, and 2) build up immunity to sickness. they were constantly sick their first six months in daycare, but get sick less and less frequently now. Regarding both 1 and 2, we didn't want them to go into public kindergarten and that be their first classroom experience.

That’s pretty much how I see it. I want my kids not be awkward by the time they make it to kindergarten and the building up immunity is big. I’m still payout around 1500 a month with daycare, preschool, and after school programs which sucks.

 

[HCFord1]

facts! Every time, I get a raise I just add that percentage on to my 401k or IRA

I’ve been lucky enough to be able to use my past raises to max out my 401k, HSA, and FSA for daycare each year at this point, as well as doing regular contributions to a 529 for the kid. I just made my final ~$950 payment on a debt I’ve been paying for four years, just in time for our second son to be born and I’ll need to allocate that money (plus more) to daycare. I would say that I’m excited for my next raise, but since I relocated from the NYC area to Omaha, and brought my salary with me, my company has made it clear that I shouldn’t expect much in that regard until my next promotion which could realistically be 3-4 years away.

I have to remind myself that the money is real and I’m saving for a purpose. My goal is to be able to retire when my kids are done with high school, but we’ll see what the future holds.

we'll have one kid in public school starting in Aug this year. Hopefully next one will be in public pre-K in Aug 2024. Our childcare spend on both of them at our church daycare in Dallas is right around $24k a year, $2k/mth. That will be a use raise/bonus.

It’s crazy. I’ll soon be paying ~$3k per month for Montessori daycare in Omaha for two kids. Very much looking forward to the oldest starting school.

 

[Jim14510]

I think the logic is you're trying to get more debt.

That question clearly needed to be answered again.

 

[Toe]

I want my kids not be awkward by the time they make it to kindergarten

I went to daycare and stuff and I'm still awkward AF.

 

[Jim14510]

I went to daycare and stuff and I'm still awkward AF.

That's an understatement.

 

[iruletheskool]

Kids are more awkward raised by daycare rather than mom iyam

 

[Cash68847]

I went to daycare and stuff and I'm still awkward AF.

Sometimes genetics fuck a guy.