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Story 181 for Stupid Tax
To SBA or not SBA?
Original story submitted by Kristen
on September 13, 2012
Location:Mooresville, NC
Age: 35-44
Gender: female
on September 13, 2012
To SBA or not SBA?
We applied for an SBA loan before we got on the program. But it didn't close, so when it came time to make it official, we decided to do it without debt. We had already paid about $5k for the bank stuff, but I chalk that up as stupid tax. So happy to not be in debt for this.
4 of 15 found this story helpful.
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Story 182 for Stupid Tax
401K loans, second jobs, and stupid payments
Original story submitted by In Debt
on September 13, 2012
Location:Atlanta, Georgia
Age: 35-44
Gender: male
on September 13, 2012
401K loans, second jobs, and stupid payments
Very long story short.
We had truck that was nickel and diming me to death so I went out and bought a car with a 266 dollar a month payment. Even after swearing I hated car payments.
Storms damaged the roof on my house. They gave us a 5000 dollar check for the roof replacement. The roofer said it was cosmetic damage so we should wait til it needed a roof. So we spent the money.
Six months later when the homeowners insurance was due, they wouldnt renew unless we replaced the roof. So I took out a 5000 dollar 401K loan.
After that, we needed money for the a/c unit to be replaced. No problem, right? I took out a second 401K loan for 3000 dollars.
My wife lost her job. So then I have two 401K loan payments, a car payment, and doctor bills to boot.
I cant leave my job that I HATE because I am stuck due to the 401K loans that I cant repay if I leave. The borrower is slave to the lender for sure.
I had to take a second job to just keep our heads at water level. I ride my bike as much as I can because the gas costs with my truck were killing us. But winter is almost here so the truck will have to be used more.
The good news is my wife was finally able to start working again part time so that will help some.
NEVER, EVER borrow money!! There is NO justification for it. It will bite you in the butt.
Once I get this debt paind, I will NEVER borrow again!!
The worst part is I knew about Dave and his plan before I did all this stupid stuff. I just didnt listen because I *wanted* stuff. (Like a spolied brat child)
I quit listening to his show. It was only after I got in debt that I realized I quit listening because he was saying what I did NOT want to hear. It wasnt intentional. It was very unintentional as a matter of fact.
I listen to Dave now-and read the site-for continuing inspiration. Just like going to church.
Thank you Dave for your ministry. It has brought me closer to God, my wife, and a happy DEBT FREE life.
52 of 52 found this story helpful.
4.7 out of 5
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Story 183 for Stupid Tax
Car Trouble
Original story submitted by Julie
on August 17, 2012
Location:Los Angeles
Age: 35-44
Gender: female
on August 17, 2012
Car Trouble
We have a 2005 Chevy Silvardo Truck with 90,0000 miles. My husband does keep up with the maintaince on the truck as he should. He found out the hard way coming home one day, the transmission blew and took about $1700 to fix. Proper maintaince is very wise. This wife is not a happy camper.
9 of 83 found this story helpful.
1.6 out of 5
rated 1.6 by 46 people
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Story 184 for Stupid Tax
Facebook Games
Original story submitted by Sara
on August 11, 2012
Location:Milwaukee, WI
Age: 35-44
Gender: female
on August 11, 2012
Facebook Games
I'm embarrassed to say that I have spent about $500 over a period of a year on playing Facebook Games like Yoville. I could charge up to $50 per month using my mobile phone. It would be added to my cell phone bill each month. One day, God showed me how stupid I was and I stopped cold turkey. I also got rid of my $100 cell phone bill. I now have Google Voice for my home phone and a cell phone with very limited minutes. I'm happy to say that I am experiencing the benefits of not having large cell phone bills a month and owing on Facebook games. I'm able to do more things for my home and spend quality time with my daughter. I'm currently working on my emotional issues so that I don't go back. I also have learned that my worth is in God and not in a smartphone or Facebook games.
40 of 42 found this story helpful.
4.5 out of 5
rated 4.5 by 48 people
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Story 185 for Stupid Tax
Everyone needs a credit card!
Original story submitted by Overland
on August 2, 2012
Location:Norway
Age: 35-44
Gender: male
on August 2, 2012
Everyone needs a credit card!
So far this year we have charged about 5 bucks on our credit card. However, it is has been almost maxed out since last summer.
After listening to Davids book, I found enough courage to
look at the account overview online. What I saw was that this year alone we had payed over 1400 dollars into the card without any effect.
That is a stupid-tax of more than 26000%. Beat that!
Happy ending: I payed our entire credit card debt from our salary account. Tomorrow when the banks open, I'm canceling the credit card.
27 of 33 found this story helpful.
3.2 out of 5
rated 3.2 by 29 people
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Story 186 for Stupid Tax
Gotta love the IRS!!!!
Original story submitted by Beverly
on August 1, 2012
Location:Idaho
Age: over 55
Gender: female
on August 1, 2012
Gotta love the IRS!!!!
Good Morning Everyone,
This was our first year of ever having to pay taxes and having a wonderful tax lady to walk us through how to make installments really helped.
We sent in the paperwork on 4/8/12, waited for the payment book. Then deceided to borrow the $1808.08 against our clear title truck, so far so good. Our credit Union was less interest. Three weeks later ( after our check was cashed ) we get this letter telling us all they can do to us if we don't pay on time, etc. I knew we were safe, they just needed time to catch up on paper work!!
Wrong, On July 27,2012 I received a notice that we owed $48 and some change for late charges, sent the check. Yesterday I received another check telling me I will now have to pay an additional $105.00 to get our account closed. I told the nice lady that we should have a file there for the last 20 years showing that we had never owed before she could just file it with that bunch. She said that would never do. And we wonder why we have so many IRS employees!!!!!Thanks Dave for always being there. Had it not been for Dave's advice on the radio and his books I could not have done this without tears. Bev
3 of 23 found this story helpful.
1.4 out of 5
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Story 187 for Stupid Tax
Time Share
Original story submitted by Vidac
on July 31, 2012
Location:East Texas
Age: 45-55
Gender: male
on July 31, 2012
Time Share
I was given a Time Share and thought it might be worth what I paid for it. It was definitely a money pit and I felt I was stuck. Fortunately, I found a organization where I could donate my time share to a non-profit agency. It did cost me a little money but I made that up in the first few years fees and I got an income tax deduction. The money it cost me was my "Stupid Tax".
Also as of today, I am debt free INCLUDING my mortgage!!!
13 of 14 found this story helpful.
3.5 out of 5
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Story 188 for Stupid Tax
$800 dollar STUPID TAX
Original story submitted by Mike
on July 30, 2012
on July 30, 2012
$800 dollar STUPID TAX
Duh. That's all I can think. We were a two-vehicle family at the start of this year, with both paid for. One vehicle broke down hundreds of miles from home, and we sold it. We had just finished FPU, so we were going to wait it out, and be a single car family. Well, two months later, the transmission is going (along with a bunch of other stuff), and it won't pass inspection. The choice: Thousands in repairs, or thousands for another vehicle. So, we went with option two. I spent hours and hours pouring over websites, and hit upon a strategy. All these nice little cars are very popular with young people. And they tend to get beat into the ground. SO I started looking for cars less popular with young folks (what teen or 20 something ever walked into a dealership and said "What can you show me in a Buick?") I found a decent car, decent miles, not very expensive, big downpayment (just didn't have cash for the whole thing) and financed for the minimum number of months. Here's the duh moment. The dealer hit me with 800 dollars in charges for "vin etching" "pin striping" and "nitrogen filled tires." I pushed back, hard, and got a lot of that knocked off. But they told me basically, it was already on there, so they had to charge me. (This is painful just to write about!) Well, after signing, turning down the pile of add-ons and etc, I went home and gave the Carfax one last look. And there, in the report, was the vin etching, the pin striping, and the nitrogen tires - just before the PREVIOUS owner bought the car. That's right, they charged that guy for all this stuff, and when he traded it in, charged me when I bought it. Lesson: Ask when that stuff was done to the car - and BRING THE CARFAX WITH YOU!
33 of 35 found this story helpful.
4.3 out of 5
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Story 189 for Stupid Tax
Money down the drain
Original story submitted by Rick
on July 23, 2012
Location:Lawrenceville, GA
Age: 45-55
Gender: male
on July 23, 2012
Money down the drain
I had noticed the dripping noise coming from the bathroom for a while, but I kind of tuned it out. One month, our water bill nearly tripled from about $25 to nearly $75.
Still, I tuned out the dripping sound.
When the water bill rose to a whopping $175 the next month, I investigated the noise.
Lifting the tank lid, I saw an old, worn flapper.
After a trip to the Home Improvement warehouse, and after installing a new flapper, the noise stopped.
An investment of $3.75 could have given me a return of $150. If I could do that well with my other investments, I'd already be a millionaire!
32 of 33 found this story helpful.
4.7 out of 5
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Story 190 for Stupid Tax
Being Used at the Used Tire Dealer
Original story submitted by Ian B
on July 12, 2012
Location:Louisville, KY
Age: 25-34
Gender: male
on July 12, 2012
Being Used at the Used Tire Dealer
Dave would have been proud of me! I purchased a car from a college kid for only $800 last summer with only about 114,000 miles on it! After driving it for more than a year, I finally found myself in need of some new tires. I looked at the major chains and supercenters to see if I could find a good deal, but nothing really stuck out at me.
Whenever possible, I like to try to support local businesses, so as I was coming home one day about two months ago, I stopped at a small used tire dealer. I had never bought used tires from a dealer before, and his price seemed right - only $35 each! So I got three to replace the three worst tires on my car; two with nearly no tread and one that I would have to go to the gas station and fill with air about once per week.
Everything seemed fine at first, but then things became a bit shady... I asked if I could use my debit card to pay for the tires, since this was a more expensive purchase, but he then told me cash only. Fortunately, I had the cash, but when I asked for a receipt, he said he couldn't give me one. I should have disputed it there, but against my better judgement I went ahead and left - without any proof of purchase.
Well, all seemed fine for a while, but just over the last month I have become aware that the tires I purchased were worse off than the ones I replaced! One was going flat and just a couple days ago I found one had blistered and was causing the car to shake violently and was on the verge of a blow-out!
The story ends with me out $105 and going to one of the chain stores buying a set of new tires yesterday. Some things, I have learned, you just don't buy because it costs less. Some things you need to be willing to spend more on for better quality that will, in the long run, cost you a lot less over time. And it also helps with the wife's security gland. For some reason, wives don't like the thought of themselves careening off the road into a ditch! I just don't understand...
61 of 69 found this story helpful.
3.9 out of 5
rated 3.9 by 26 people
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