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What things am I a dumbass about? (lemmy.nz)

submitted 8 months ago by luthis@lemmy.nz to c/asklemmy@lemmy.ml

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Had someone contact me because a browser interface was 'down' and it was actually a cert issue. It surprised me that in an IT context, this person didn't have a basic understanding of SSL certs. They didn't even know how to add a cert exception.

It got me thinking, what basic ubiquitous things am I a dumbass about outside of IT?

Ive seen lots of 'fun facts' compilations, but it would be better to get a wide range of subject suggestions that I can spend 30 minutes each or less on, and become a more capable human.

Like what subjects would plumbers consider basic knowledge? Chemical interactions between cleaning products and PVC pipes?

What would an accountant or a landscaper consider to be so basic its shocking people can live their lives without knowing any of it?

For most areas of expertise, its difficult to know even what the basics are to start with.

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[–] jballs@sh.itjust.works 44 points 8 months ago (22 children)

I'm constantly amazed at how many people don't understand the concepts of basic finance and how compound interest works.

Years ago, I brought my laptop with me to buy a car so I could plug all the numbers into a quick amortization schedule. The sales person offered me a choice of $1,500 cash back or 1.9% financing instead of the typical rate a few percentage points higher.

I plugged the numbers into my spreadsheet and saw taking the cash back would cost me a couple grand more than the lower finance rate. When I told him I wanted the finance rate instead of the cash back, he mentioned that I was the only person he'd seen not take the cash back.

Maybe he was pulling my chain, but in my experience, the average person doesn't know what compound interest is, let alone what an amortization schedule is.

[–] luthis@lemmy.nz 8 points 8 months ago (1 children)

amortization schedule

Thanks! excellent suggestion.

[–] ShepherdPie@midwest.social 14 points 8 months ago (1 children)

You can also use an interest calculator or multiply the payment by the term length to see how much over the purchase price you'll pay in interest.

This is why it's important to haggle over the purchase price and not the monthly payment. Never ever negotiate over the monthly payment, or you're likely to get stuck with a 96-month loan at 23% interest.

[–] jballs@sh.itjust.works 10 points 8 months ago (1 children)

My mother in law bought a truck the same week I bought my car. I mentioned that I got a 1.9% interest rate. She got a 22% rate!!! I was absolutely floored when I found out what she did.

[–] IMongoose@lemmy.world 8 points 8 months ago (1 children)

22% is insane, that should be illegal honestly. Pretty much bought it on a credit card.

[–] jballs@sh.itjust.works 6 points 8 months ago (1 children)

Yeah I was absolutely disgusted when I found out. It made me realize that there's definitely a "poor tax". If you don't have good credit and/or aren't informed enough to pay attention to interest rates, you're basically going through life on hard mode.

[–] Bitrot@lemmy.sdf.org 2 points 8 months ago (1 children)

That’s also why you never buy a car near a military base.

[–] jballs@sh.itjust.works 1 points 8 months ago

Lol that just reminded me of the /r/justbootthings subreddit. So many stories of 24% APR loans on Dodge Chargers.

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