Friday Vindaloo : From Debts to MILFS
I fired up the word doc last night to write the next chapter for One Masala Life Please! A few hours later, I delete the whole document. It just isn’t shaping up to the levels that would excite me. But its high time I wrote about the boring stuff.
My Friday Masala. Bits and pieces of all that I passed by/over/under this week.
Loan Consolidation and those Debts
KK, a friend, has always been this generous guy I’ve known. But two days ago, at a bar, I found that it wasn’t he who was so generous. It was the credit card companies. The cards he carried in his wallet were flicked out on a mere whim and there went another 100 bucks down the drain. KK had this troubled look all evening and upon much nudging doled out this information. That he’s in debt. A lot of debt. $30,900 approximately. All credit card debt.
Now that’s huge. I’m not sure how he is going to handle it. But if you are one like him, here’s one advise. Debt is bad. There is no such thing as good debt or bad debt. Debt is debt and as an individual you should repay it as soon as possible.
I’ve been in the debt trap. And am about to get myself out of the hole. It took me years. My Sagittarian impulsiveness dug a hole so deep, that it got the better of me.
Not sure why you may be in debt. Pretty much the reasons could be good or bad. Bad would mean - running a check on yourself. Are you impulsive? Compulsive shopper? Emotionally weak? Use shopping/spending to distract yourself from the lingering unpleasant feelings/emotions?
There are tons of debt consolidation companies out there. Take a look at which ones have the best deals. Or try moving your credit card debts to the new offers from other credit cards that offer zero percent incentives on balance transfers. Or talk to your own credit card company to reduce the interest rates on them.
Two important things.
(1) Budget. I know it’s the most difficult thing for many of you. But you don’t have to get into details like 30 dollars for coke this month. You could just have two lines Fixed and Variable. Or perhaps, planned and unplanned.
(2) Can you live off 50% of your income? Well if you can if you want to get out of debt and build wealth. Use the balance 50% to repay your loans. Once you are out of debt, use the 50% to build wealth.
It isn’t easy. I know. Here’s what I do. I have multiple check in accounts. The one where my incomes get deposited are used for my monthly fixed expenses. Twice, each month, money is transferred to a second account which handles my variable expenses. Whenever I flip out my check/atm card for purchases at the food store or the restaurant or the club or the theater, this is the account where the money comes out from. A couple of other accounts are used for investments and other funds.
To begin with atleast have two accounts to facilitate this. Use one to pay you rents, debt, bills etc. The second account is what you will use for your food, movies, shopping etc.
Try it out. But before starting to repay the debt, check how much you will be shelling out to repay the debt each month. Try this link that will help you to make a realistic debt repayment plan
But first save about 3 to 6 months of your monthly net income. Yes. Before you start repaying debts. Have atleast 3 - 6 months of your monthly income saved. Buy a 1 – 2 year CD ( fixed deposit plan) from this and lock it in. Then you can start working on your repayment plan.
The other thing is to check on how you can increase your income. If you have no qualms in taking up any part time job, do it. The faster you are debt free, the more you will enjoy your financial freedom.
For those on H1-B visas in the US, may have difficulty in doing it. But here’s a piece of info. If you are open to working in Desi Restaurants, I would strongly suggest that you walk into one and ask for work. Desi restaurants don’t pay you much and not many desis are good tippers. But some are. Some like me will leave you a 20% of the check. So go for it. It’s much better than sitting at home fretting over the delay on your green card and all that shit.
And you know what? Your social skills shoot sky high if you work at such places of high interaction. Go for it.
The difference between Sharon Stone and MILFs
Seriously, what made the producers opt for Sharon Stone for Basic Instict 2 is beyond me.
I excitedly shoved the DVD in the player, ready for some high voltage turn on stuff. I’ve never been so bored over a sex scene in my life. Was she drugged while doing those scenes.
Ok she is old, but for the love of God, SHE LOOKS SOOO OLD. Every frame looks like it has been touched up to make her look younger. The way she comes on to the men in the movie isn’t sexy. It’s called “disgusting”. You really have to be out of your mind to be turned on by Sharon Stone in Basic Instinct 2.
When someone tries hard to look and be sexy, it shows right up there. And it’s a big turn off. Sharon Stone in BI2 was a BIG turn off. WHO IN THE WORLD DECIDED TO TAKE Stone FOR THIS ROLE SHOULD LOOK FOR ANOTHER JOB! Seriously.
Each time she pulls her skirt up to show her grandma thighs, I would fly down on my remote to click the fast forward button. What was she doing? More importantly didn’t the people on the sets of BI2 see what hell they were creating? Silicon implants simply don’t mean sexy. They can’t make up for those grandma wrinkles on your face and hands.
BUT SHE’S A MILF!!!! - some say.
Oh come on!!! She is way out of that league of MILFs. I’m not too big on MILFs. Was. During my college days. Sharon Stone in BI2 can’t be categorized as a MILF. If such older women is what turns you sick minds, for goodness sake, call her a GILF. Grandmas I Would Like to ……….YIKES!!!!!!!!
Weekend Plans
For those in Orange County, CA, there’s an Indie film festival this weekend in the city of Orange. Check it out. I think it has some good stuff in there.
For those in LA, Question: Was A.R. Rehman doing a show in LA last week?
Well, it’s time to wrap it up. No I mean, wrap the post up. So until the next post, be good, stay safe and have a rockin weekend.
July 21st, 2006 at 1:07 pm
The show was last week, and I live right next to the Hollywood Bowl, planned on going and then plum forgot.
Saving money is wise, but some people over do it. Like my hubby, I think a lot of desis can over do it on saving money. He freaks out about our student loan debt, we have less than a 85k for 2 Juris Doctorates. We both have just graduated from law school. My loans are consolidated at 3%. We have no credit card debt. We both have cars, nothing crazy — reliable Japanese cars, nothing high end…. it’s time to CALM DOWN.
Saying that, it’s very bad to get in velvet handcuffs which I see tons of friends doing. They’re out of school, making $ for the first time and spending MAD money. A lot of them hate their jobs and are digging themselves in a whole!!!
A good policy is to keep living like quasi-students even when you’re working and out of school — no velvet handcuffs that way.
Loved the Post.. love it:)
July 21st, 2006 at 1:37 pm
Oz,
I wold advice against anyone working in Desi restaurants. Restaurant owners are blood sucking bastards who will make you work for 12-14 hours a day for minimum wages. forget about the tips, most desis arecheap bastards who try to sneak out leaving a couple of bucks…yeah even the fuckin doctors and professionals. There are very few who feel for the serivice staff and slap down 15 to 20% in tips. Owners are no better, they steal tipds from the tip jar when they see lots of cash in there. I was a manager/waiter/cook/janitor/dishwasher in a desi restaurant when I was fresh of the boat. Don’t want to relive that experience again. Ayyayaiai……..
July 21st, 2006 at 1:50 pm
Cliff, that experience sucks!! My parents owned a restaurant in CT and they were kick ass — always paid above minimum wage per hour and were awesome to all the staff. I made mad $ working as a waitress through highschool - gradschool. It’s taught me to always tip well (a lof of desis SUCK BALLZ at tipping).
July 21st, 2006 at 2:08 pm
- Ani, Damn missed AR in LA. You are on the right track. Well its good to have a hubby who has an eye on saving money :) even if it may get a bit much at times. But it’s all good.
- Cliff, I know most are blood suckers. But in this day and age there are more options available. Desi Restaurants for H1B desis cause that is the easiest way they can get work besides their regular jobs. A desi store could also be a good option. But in CA there are tons of other places where they could get a part time job. Taxi companies for one are quite lucrative if you get to drive in LA or OC specially on weekends. But good advice. The same goes to Desi Companies that sponsor your H1B. Worked for one blood sucker who did not pay a dime for 6 months. Can you believe it???
July 21st, 2006 at 5:31 pm
Hmm now is the turn of a master to speak about how you get into debts. Well not all of us come here on H1B, as for me i came here on a F1 visa, the fees for one sem was 5000 bucks. How do i get so much of money? well i could have asked my parents. But damn they aint Nawab of Hyderabad or begum of hyderabad. So, what you do… apply for credit cards and max it out. So, how do you re-pay that..well wait for a job till then just pay the minimum amount. Even i used to work in a restaurant, deliver pizzas… yaa guys i did it the hard way. Now please dont ask me if what i did was legal. But, one thing about tips guys.. to tell you the least.. in American restuarants(meaning non-desi’s) most of the server’s are paid minimum wage. the minimum wages differ from state to state. The state i was in, the minimum wage was $2.13..yeah thats right $2.13. Now, if customers dont give them tips how the fuck is anybody gonna make money, and pay the minimum amount of there credit card bills. Well for all that dont know the meaning of tips.. Its an acronym for TO INSURE PROMPT SERVIVE. that is TIPS for you. An yes BI2 sucked biiiig time
July 22nd, 2006 at 7:56 am
Man,It’s kinda scary reading about these debt traps.Especially if u are a student with no fixed income.
Yeah,Read about A.R.Rahman’s concert at the Hollywood Bowl.Hoping for a review from someone who’s seen it.What was played??
Never really got around to watching BI2 man.I mean,Sharon Stone’s a fossil now.
July 22nd, 2006 at 2:33 pm
Talk about debt…never had any…thank you daddy :)
But I can tell you a thing or two about lending money (to “friends”) and then having to forget about it… (an year worth of spa visits!!!) you lose both the money and the friend but hey you live and learn :)
Although I don’t make too much but I always tip generously…unless of course the wait has an attitude…and some have plenty…not in desi resturants though…
vi
July 28th, 2006 at 10:17 pm
Hey Oz, let me start with a Hi !!! I am visting Desi-Train after quiet a while. Seems like few new dubbas have got added to this train, and it surely is going places…..You Rock !!!
Also nice to see this topic coming up ……..I worked at a Desi restaurant for a year. but I worked only for fun sake, I already earn enough to feed 2 families (thanks to my code writing skills …hehee — touchwood) …and I had mixed experiences. The owner was a sucker, and quiet manipulative. There’s a lot that happens behind the scenes in these desi restaurants — like many of these Chefs don’t even have legal status, all the Mexicans used for dishwashing have entered US in containers — the one I knew had hid in car trunck and reached Chicago…..also I used to trade off my tips for spicy food…but few things that I saw made me give up eating Indian food at such restaurants……..however at the end of the day, it was priceless experience for me, and it helped me to overcome my mental block…..I interact with folks better now…..In retrospective it all seems so much worth today…….
Cheers
July 28th, 2006 at 11:35 pm
Jugs,
You areso right man. It is definitely an experience.. now good or bad is upon an individual. But such kind of experinces do help you in life and makes you look at a larger picture.. not to mention so many chicks you start dating within no time :)
July 29th, 2006 at 8:46 am
- Jugs, I’ve heard pretty horrifying stories of the way employees are treated in a Desi Restaurant. But then the same is true for those hundreds of Desi Software Programmer supplier companies in the US. One story after another. Since I came to US via one such shitty company I got to realize the blood sucking nature of these companies. Every employee in my company would secretly tell me that he’s going to sue/complain to the authorities about the firm after he would get a job some place else. But no one ever did it.
I guess it’s just the nature of any Desi Company in general. I worked for only one desi company so far and that was the worst phase of in my professional career.
It’s good to know that something good came out of it for you. In many cases it does - we just fail to realize it at that point of time because of the shit we are trying to get out of.