[Scared-cpa]

I’ve always thought public = government organization.

In the accounting world, it seems to mean something different. Public = publicly traded company ONLY? Or does public mean publically traded and include government/NFP?

Can someone please clear this up for me because when I talk to people about public v. private who are not in the same field as I am, they say, “Why do you have to work for the government to get your experience hours?” Then I try to explain that public means publically traded and then they say, “Well why don’t you say publically traded instead of just public? Those are two different things.”

So can someone please set me straight on this issue. Please and thank you 🙂

[Anonymous]

@lou no, not a student any longer thankfully…except if maybe you want to call me a CPA exam review student haha! I have two bachelors degrees, one in general science and another in accounting. I've never made over 50K a year, which is why I was going for a CPA, so maybe I could get 70-80-90?? I know some CPAs who make that and have houses. I live in Southern California.
I'd like to get a job as an internal auditor or controller. For the past 2-3 years, since getting the second bachelors in 2014, I've been on long-term temp jobs (lasting 3-9 months apiece) and trying to find my niche in the accounting world.

@mla – $1,000 for prom, huh?! Yeah, I can believe that. Just wait until you have to pay for your daughter's wedding! Isn't that customary? The bride's family pays?!
I never did go to my prom but there were guys in my class who did the whole nine yards. That was in the mid 90s. If it's $1,000+ now, I'm sure it was a good 400-500 then
and that was a lot in those days unless you were rich.

[Missy]

Leon yeah and I'm sure I'm on the low end of what others spend on their kids prom. I'm also sure my daughter will expect a wedding that rivals the Kardashian weddings. Going to talk up the benefits of eloping.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

@mla you wanna hear something hilarious – heck, we need HUMOR and LEVITY on here, it's so fricking serious and full of depression, self-doubt, and rarely exciting except when somebody reports a pass on BEC after 4 attempts, or reports an “I passed I'm done after 15 sittings and I'm pregnant with twins and work full time and if I can do it, you can!” ANYHOO, I went on a job interview 2 months ago or so with a consumer loan company. They had just fired 2 of their accounting people – the department had 4 people, 2 of them fired (one for lying on her resume, great thing to admit to me). I asked, innocently, “Just what kinds of loans do you give to people and how do you make your money?” “We charge high interest rates, and we make loans for things like pets, weddings, vacation trips, you name it.” “Pets?”, I asked. “Yeah, some people want dogs that cost $5,000, or they have to pay for surgery for the dog that costs $5,000 and they don't have enough room on their credit cards.” That right there was enough for me to know that I did not want to work for them. I think it was a very cheezy outfit.

$1,000 was the low end for your prom expenditures?! Let me tell you what I got for my high school graduation – $200 from mom and dad, $200 from one grandmother, and a dinner out at the restaurant of my choice. There's always the option of HELOC'ing such expenses as weddings/vacations/home improvements though….don't some people charge such things to their Home Equity Line of Credit?!

[Missy]

Lol there's a reason companies give annual bonuses after the holidays, it's so your kids spring activities are funded. God forbid we win a cheer competition and have to head to Disney for nationals or the marching band is invited back to Pearl Harbor. Senior pictures are more than a mortgage payment and you don't want to know car insurance with two new drivers.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

It costs a blind fortune to raise kids nowadays. I dont' know how low-earning parents do it. My parents did pay for senior pictures, but they never did have to worry about the “young drivers” insurance thing. I didn't get a car until after graduating college. I wanted to do it that way so I would save myself a lot of money. I lived in a small college town in Oregon so didn't need it.

[Scared-cpa]

So from this side convo, MLA, you would suggest NOT having kids close in age to reduce the chance of financial splurges like you're currently facing? I ask because I like to have a general plan of what I want out of life. I'm currently 23. My plan is to own a home by 26ish or so, get married around 27, and start having kids at age 30. My boyfriend and I have discussed that we would like three children and I decided the prime time would be between the age of 30-35 for me. Meaning 3 kids in 5 years. Would you NOT suggest this? 🙂

It's just that I would like to have multiple children closer in age, but I don't know if our wallet will be able to handle it. But we will definitely (hopefully) be stable and financially prepared before we start popping out kids.

[Anonymous]

Save as much money as you can before having kids! haha Once you have them, they will drain you of every spare cent unless you're already rich. Everyone I know or have known who has kids, even wealthy/wealthier folks, say that the kids completely strain the budgets and cash flows. At least you're responsible. Most people who have kids just do it whether they're able to support them or not. I guess that's an incentive for them to work harder!

[Scared-cpa]

I could only imagine how expensive they are! I have three dogs and their food, vet visits, and supplies are expensive enough! I cringe at the thought of some things I made my parents do and buy when I was a kid. I just don't want to get in too deep if I can't get out with having kids too close together and then struggling. That's not good for us or them.

[Skynet]

P.uking
U.p
B.ile
L.imegreen
I.ncessantly studying for the
C.pa exam

[Missy]

I don't know a single person whose family is complete who would say it's exactly the way they planned it, sometimes life has other ideas LOL.That said there are many reasons to have kids further apart but finances isn't one of them, regardless of their respective ages they'll likely always have expenses that coincide with each other.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Scared-cpa]

That's true. My thoughts behind having kids close in age would mean that a lot of items can be shared or passed down the line, especially when they're tiny. This sharing will go out the window when they get older, though, I'm sure lol.

[Author]

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