Personal Finance I am a father who just won sole custody of my 5 year old son. Please help. |
- I am a father who just won sole custody of my 5 year old son. Please help.
- Kept track of my income vs spending for all of 2017. On average I made $3035.65 more than I spent each month. When will retirement be possible if everything stays the same?
- Saving 30% of income and not worrying about budgeting? What do you think ?
- In-laws asked me for advice, a little worried
- I work retail. Last night I had a conversation with a man who suggested he could mentor me and get me connections to a better life.
- Should I bother with my work's retirement plan?
- Came home to a flooded apartment
- breaking from emotionally abuse family (please help I have no idea what to do financially)
- Severely broke, need money fast, what do
- Advise on preparing a will
- Applying to rent a house, landlord is asking for checks for rent and deposit at time of application - is this a scam?
- Every dollar we spent (and earned) in 2017
- 22 years old I make $1200 a month no savings what steps can I take to save and invest my money properly
- Would I need to file state taxes twice if I live in one state but work in another?
- Uncle passed away. Need advice on funeral costs
- Recovering from an addicts past
- What's the deal with TurboTax's free filing?
- How to save on prescription medication?
- How do you decide to use your emergency fund?
- Can some explain how my friend got approved for a 300k mortgage?
- 30 and in Extreme Debt
- About to get my first credit card
- Help me start investing outside of retirement?
- Got an offer for $25k more to work at a startup. Should I ask my current employer to match/give me a raise?
- I'm confused on how to go about paying taxes for an under the table job.
| I am a father who just won sole custody of my 5 year old son. Please help. Posted: 06 Jan 2018 08:48 PM PST I need advice and resources. His mom is moving to Florida with her new husband and baby. I won custody and am looking for advice and resources to help and make a low income father's life more manageable. Anything helps, thanks for the replies. Didn't expect this to blow up like it did. Thanks to everyone who replied. I really appreciate the support. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 01:43 PM PST This doesn't include the match on my 401k, but I'd rather leave it out for simplicity and planning to have less is always better anyway. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Saving 30% of income and not worrying about budgeting? What do you think ? Posted: 07 Jan 2018 12:35 PM PST I suck at budgeting and tracking every penny. I have 2 jobs and put 30% of whatever I make in ally bank because I don't trust myself with money in my checking account. I can pay all my living expenses after that 30% saving. Don't have much in retirement (401k only) which I make my employer match. Second job is cash. I'm 29 and make ~ $3700/month net if that makes a difference Do I really need to budget? Based on what I'm reading on this sub I feel really bad eating out or buying drinks, I don't feel responsible. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| In-laws asked me for advice, a little worried Posted: 07 Jan 2018 05:49 PM PST My in laws called today asking for advice. They are 60 and 62 and told me they only have 100k saved in a 401k for retirement. I don't think they have any other savings. In the last couple of years they have racked up some debt. Financed a new couch, some medical bills, F150 payment, and some credit cards. They also have around 13k left on their mortgage. All in is probably 40k worth of debt. One of them is still working, making about 40k per year and the other one is not in the best health and isn't working. They asked me what I thought of them withdrawing 40k from their 401k and paying off everything. They said the debt burden makes it difficult to get ahead and make some much needed home repairs that have been stacking up. I honestly don't know what to tell them and I am very worried for their future. Also mixed into the conversation was my mother in law saying we should thank her for her not asking my wife and I for money. She has made several of these comments in the past month since she heard my wife and I paid cash for our new to us car (we are frugal, make decent livings, and avoid debt). So two part question I guess.
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| Posted: 07 Jan 2018 02:00 PM PST I do loss prevention. Its boring. A couple walked in last night that seemed fun so I joked with them. They started up a conversation. He had a strange choice of word for a name (maybe a fake name?). He looked 30 and she looked 40. He was kinda attractive, she not at all. He said he'd been a top salesman for decades, made many contacts, quit his job and washes dishes (?). They asked about my goals and dreams and when they noticed I felt we were spending too much time talking, he offered to give me a call to better connect me with rich buisness people. I never said I was interested in buisness. He calls me the morning after asking if Id like to sit down and talk about it. Told him Im apprehensive and Ill think about it. Is this a scam? I did a quick google search but found nothing. I told another loss prevention and he said he's heard of it (like people offering to mentor retail workers in this store). [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Should I bother with my work's retirement plan? Posted: 07 Jan 2018 01:55 PM PST So I'm a college student working as a barista at an on campus location for a smaller national coffee and tea place. I've been here about 6 months and just got some mail about qualifying for the company's retirement saving options. Is there any point in enrolling? I'm going to be here maximum 1 more year and I'm making roughly $2-300/week. It doesn't really seem like I'll put away enough to make it worth it. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Came home to a flooded apartment Posted: 07 Jan 2018 04:21 PM PST Just got home from winter break (I'm in grad school). Walked into a flooded apartment. I had emailed my leasing office to tell them to take a look at my sink before I left because it seemed to be backing up slightly. They emailed me back and assured me they would look at it. Three weeks later, I come home to a disaster. I called the emergency maintenance people who are currently using a shop-vac to dry the kitchen, but I'm wondering what I am to do about the stuff that's now destroyed. Do I have to go through my renter's insurance to get things replaced? Which of course would cost me my deductible. Is the property management on the hook for anything here, since they obviously did not complete the maintenance check that they assured me of? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| breaking from emotionally abuse family (please help I have no idea what to do financially) Posted: 07 Jan 2018 12:14 PM PST Hi, I'm 19 years old and an undergraduate student at a UC. I've lived with my extremely emotionally abuse family for all my life until last night. Long story short, my parents decided to drop me at school and tell me that they would no longer be paying for my tuition because I am not pretty enough for them. In order to bar me from any sort of financial independence they previously used to fully make my tuition payment and threaten to stop if I got even a part-time job. I was considering filing independence on fafsa a few years ago but I fear not being able to fill it out correctly or qualify. The school offers me 4.5k in subsidized loans and 2k in unsubsidized loans. My monthly tuition payment of 2k+ is due in two weeks. I have no idea what to do I'm so sorry if this has been explained before but I had trouble finding things and I'm having a mental breakdown right now. I have maybe 1k in savings and no idea what to do from here. I'm new to reddit to so I'm sorry if this isn't the right page; I'll also be posting to one or two more just in case those might be better suited. Also in case anyone is wondering just how abuse my family could be while paying for me, just one of the abusive experiences I faced was my parents told me nearly daily that I should go kill myself after I've already had several suicide attempts. The only reason I stayed a part of the family after I turned 18 was because of the financial support. Thank you for any help, Sydney [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Severely broke, need money fast, what do Posted: 07 Jan 2018 04:58 PM PST I was going to post a whole long story of my situation but there's not much point. I'm out of work and looking for a job. I have $289 to my name, and I need $200 on top of that before the 17th. Even if I get a job tomorrow I'm not likely to get a paycheck for that much by then. I live in a city and have a car which meets the requirements for ridesharing, but it's filthy inside and out. It's also very cold here so cleaning it up myself is not an immediate option and I don't have the materials to do a decent job anyway. Hesitant to drop the cash to have it done professionally as there is very little cash to be had. My parents are somewhat well-off but I've already hit them up for a big chunk of money, which has gone to past bills. Plus I'm 30 years old so I'm not exactly keen to ask for more. I have no debt and good credit, but don't really know how to use that to my advantage. As for skills I'm a stagehand and carpenter. Been freelancing for a while but it is obviously not cutting it and work is scarce lately. I have two liberal arts degrees that have done me very little good in eight years. I'm also a moderately good guitarist who occasionally gets paid to play small bars, but I have nothing lined up on that front until February. I'm healthy and pretty strong. Has anyone managed to pull out of a tailspin like this? If so, how? Also looking for any LEGAL side-hustle ideas, related to my skills or not, that can put cash in my hand quick. Tl;dr I have $289. Need $200 more by the 17th. No job but really trying. Please help me figure this out. EDIT: Typo [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 06:51 PM PST Have 3 young kids. No will. It needs to happen. Is there a reason to go to a professional? If not what is the best free resource to use to help walk me through it. Once its written what do I do with it? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 03:49 PM PST My partner and I are considering applying for a house to rent, the landlord has asked for two checks (first month's rent, and the deposit which is 1.5x first month's rent) to be submitted along with the rental application and bank statements. Is this a scam? I've never heard of submitting a check (to be voided and replaced with a cashier's check if we are selected) with an application. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Every dollar we spent (and earned) in 2017 Posted: 07 Jan 2018 05:50 AM PST I've been tracking every expense and dollar earned for almost 2 years now. I use a homemade spreadsheet with double entry accounting and a budget sheet inspired by YNAB. In 2017 my wife and I (both 27 yrs old) got married and went from one person working full time to both (but our finances have been combined for the entire year). I've used /r/personalfinance a lot to plan our saving strategy. I had some time to sit down this weekend and pull out some summary info from the past year, so I thought it could be nice to share. When I started working a few years ago, it was hard for me to decide what was a reasonable amount to spend on things like rent and entertainment, so I thought that our breakdown might be useful for other people who are just looking for some more data points. First, the bug numbers: Income: ~$111,000 This was our take home pay. It does not include money that was deducted from our paychecks for taxes or health insurance. It does also include capital gains on our retirement accounts. It would probably be more useful if it didn't, but I think that amount is negligible and would be a pain to calculate. Expenses: ~$69,000 This includes ~$4,500 we spent on our wedding. We were lucky to have our parents pay for the majority of the wedding costs. Savings rate: ~38% I wasn't tracking this number month to month, so I was very pleased to see that it was so high after I ran the numbers! Other financial details:
Spending by category:
(note that % of total spending does not include wedding expenses in the total) Things I want to change in 2018:
I hope someone finds this post interesting or useful in some way, but even if not, thanks all for the help in 2017 and for making this sub great! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 03:40 PM PST I just escaped a shitty situation and am on my own now I want to start doing anything I can to start accumulating wealth and get myself in a better position. My rent is $90 (just a room) And my phone bill is $50 And that's about it for expenses I have zero savings What should I do [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Would I need to file state taxes twice if I live in one state but work in another? Posted: 07 Jan 2018 03:33 PM PST I currently live in North Carolina, for a NC based company but work at their South Carolina office. My paychecks have deductions for SC state taxes. I know I need to file Federal taxes and NC state taxes, but would I need to file SC taxes? I asked my father who did my taxes before and he insists that I speak with payroll to change taxes from SC to NC on my paystub as according to him the location of the office doesnt matter, but he is frequently wrong about items and usually does the wrong thing and insists his way is right and gets someone in trouble (Like trying to fix my car by unscrewing random things). Thank you. Edit: This would be my first year filing taxes on my own and I do drive every week day across the state border to go to the office. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Uncle passed away. Need advice on funeral costs Posted: 07 Jan 2018 05:46 PM PST Uncle passed away. My aunt (his wife) is located in San Diego. We went to a funeral home to inquire about funeral costs and a plot of land for his place of rest. The funeral home quoted us at $21k just for the plot of land. I decided to look on Craigslist to see if anyone was selling their land plot at that specific cemetery. I found one guy that was selling his for $6k. Though that deal fell through, I found another guy selling his for $11k. He was selling his plot because before his wife passed away, she decided she wanted to be buried next to her family in Arizona. They purchased the plot a while ago, and he no longer needed it. Anyway, the sales lady at the funeral home calls my mom, and when she found out we were looking at the $11k deal from Craigslist, she all of a sudden said "Hey! We have a special deal today. The land plot is now $15k!" This really pissed me off because how dare you bring up a sale when my aunt is grieving. Unfortunately, my aunt gave in because the sales lady told her she can be buried on top of her husband. My aunt took out a $30k loan for all this. Has anyone been in a situation like this? How did you handle it? What would you do instead? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Recovering from an addicts past Posted: 07 Jan 2018 02:53 PM PST I am a 35 year old ex addict. I have been clean a few years, and am working on getting my slow start in life on track. I have a pretty good factory job, and a great husband of 3 years. (He simply made me not want/need drugs) I am currently working on moving up at work, getting credit sorted (huge disaster there), getting healthy, and being financially stable(recently stopped dependence on food stamps). My main goal currently is to get smart with money. I was a user for so long, that stealing was just a way of life, whether I needed it, or not. Now, I take GREAT pride in buying things I used to only get from stealing, like makeup, good shampoos n stuff, candles, and clothes... but, to the extent that I may go a bit overboard. Those type of things were all that I usually got to take with me if I was suddenly homeless ( happened ALOT), so they gained worth in my eyes. I am intelligent, contrary to my life's choices, and can pick things up along the way, but I guess I still have a "get it the easiest and fastest way possible" mentality, and that's an issue. I need help. I need to clean up credit- Tons of unpaid hospital bills Unpaid loans (6 years ago) I tried to take out as many loans as possible, in an attempt to build credit score with on time payments Filed bankruptcy 5 years ago. Chapter 7 (?), the one where you pay off your debt slowly , then suddenly and wrongfully lost job, so couldn't pay, and went into default The last few years, say, maybe 3 or 3.5, I have paid every new bill (rent, phone, etc) on time, taken out no new loans or financed anything. Im 35, and want to buy a home, my husband's credit is more nonexistent, than bad. I believe he has 1 unpaid cable bill from 6 or 7 years ago, but that's all. His credit score is somehow lower than mine. I also need help with budgeting- Losing food stamps seems like a huge deal to me, even though it was only about $150 a month. I have no clue how to make small healthy meals for 2. I always cook way too much, and it gets wasted. Not spending all my money on drugs is awesome. It's great to have money left over every week! The downside to this, is that I occasionally see that extra money, and have a need to spend it. I earned it! So I frivolously buy crap like gem packs on an online game, or a big bundle of candle or picture frames. It's just wasted, but I feel happy when I buy it. And then I'm broke. Bills are paid, but I'm not saving any. Tried saving account, but that's just another account to me, and it's simple to transfer it right back out. I have a 401k, but I have taken loans from it twice, and emptied it. Just another account. I am working on getting extensive dental work done. Drugs ruined a beautiful smile (surprise surprise). I need to save money for that. $25,000 worth. I have about 2/3 of it done, and need rest finished by May. Also need to save for legal problems, about $3,000, and need done in 6 months. I just need help. My Mom isn't helpful, and my husband has his own past that makes things difficult. How do I break these habits? How do I make my money inaccessible? How do I correctly build credit and clear what I have? How do I easily budget, and stick to it? How do I make up for time lost in my past? Also, I am a felon. Several drug felonies. I have a fairly recent (2014) misdemeanor charge, from borrowing a coworkers car on lunch, and getting pulled over with no license. I transferred shortly after, for my job, and now live 3 states away, so I was unable to make probation visits and was violated. They are working with me to get it taken care of now, so I can get my license back. PLEASE DO NOT CRITICIZE ME! I have had enough of that in my life, and I am well aware of my mistakes, far more than any of you. I am just trying to do right, and focus on the future. I am proud of where I am in life, and what I have overcome. Thank you all in advance for taking your time to read and any advice you might have. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What's the deal with TurboTax's free filing? Posted: 07 Jan 2018 02:19 PM PST Last year I was late on my taxes (I got an extension) and to just get it done I used TurboTax. If I remember correctly my state filing was free and I paid $20 for my federal. I didn't really care since I just wanted it done. This year, I have more time, and I'm not sure what to do. I got this email, but I'm not sure what the catch is? I'm a student, work part time. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How to save on prescription medication? Posted: 07 Jan 2018 03:32 PM PST I take 8mg Toviaz for overactive bladder. It's a brand name drug with no generic available (patent doesn't expire until Oct 2019). My employer switched to a different PPO health plan provider, and when I went to refill my Toviaz for the first time this year, it was $400 at Walgreens. There are other medications available that treat overactive bladder, and I tried several, and either they were not as effective or gave me blurry vision. What ways can I cut the cost of my prescription? The manufacturer has no coupons available. I googled and there's several prescription savings cards programs online, but all the websites had scammy-sounding names. Any suggestions? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How do you decide to use your emergency fund? Posted: 07 Jan 2018 04:12 PM PST Silly question, but do you use your emergency fund if your savings has enough to cover said thing? Say you need to replace a broken window, get some unexpected work done on your car. If your savings can handle that without putting your daily life in jeopardy, do you take the hit to savings or do you always use your emergency fund? tldr do unexpected things always come from emergency fund? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Can some explain how my friend got approved for a 300k mortgage? Posted: 07 Jan 2018 05:14 PM PST He makes about 50k a year and his girlfriend makes maybe 15k. I was told I would need to make 100k to be approved for that much. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 06:48 PM PST So I am 30 yrs old with a good stable job of almost 10 years. I have a spending problem that has dug me a very very deep hole. Between credit card debt, car payment, school loans, and other misc bills, I have about $100,000 in debt. I still live at home because I can't obviously afford rent. I have a gf of 7 years who is in very good financial standing with a good job who is also very good with her money. I have asked her for help with budgeting and making positive changes in the way I spend money or should say how not to spend money. The problem I currently have are that I am struggling to make minimum payments on all of my bills. I'm living paycheck to paycheck trying to just cover each bill but it's not enough. In turn, this has put a strain on our relationship because she is worried about getting into a marriage to someone who has as much debt as I do. Which I can't blame her for. I am really trying to make positive changes to my habits but do still slip up and spend on things I definitely shouldn't. The advice I am seeking is things I can do to actually make progress on these debts. Not quick fixes or temporary solutions but advice maybe from people who have been in a hole like me and managed to dig themselves out. What worked for you? What didn't work? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| About to get my first credit card Posted: 07 Jan 2018 06:42 PM PST Hi all, I'm a minor, and my parents are about to open a secondary credit card under their account, but under my name for me to use. For reference, it's with Capital One (Quicksilver Rewards). Since it's my first one, I have a few questions. Will I be able to start building my own credit, even though I am a secondary user? If I do start building my own credit, how long does it normally take for credit history to start developing? Are there any other things that I should be aware of with this card? Any help would be greatly appreciated. Thanks in advance! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Help me start investing outside of retirement? Posted: 07 Jan 2018 01:12 PM PST Hello - I'm 25 years old and single and would like to start investing outside of retirement. A little background: I make $55k salary and own a condo. I fully fund a Roth IRA and 401k (5% with 10% employer match). I have about $40k in savings and would like to invest around $10k but I don't know what to do. I have read some threads on here and I opened a Vanguard account but I'm lost about what I should actually invest in? I see there's some target retirement funds but I'm not sure if I need to invest more for retirement right now or if a shorter term goal (maybe 10 years) makes more sense? I've read about ETFs but I'm not sure I fully understand them. Any help is greatly appreciated! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2018 04:53 PM PST Currently making $90k at an well-established company (been here for 5 years). Got an offer for $115 at a startup (not yet profitable but fairly established). I'm currently working 40 hours a week at a pretty stress-free job. The new startup claims employees can average 50-60 hours per week, and can be stressful at times. My current employer has said they plan to promote me with a raise, but it's been 2 months since they said this. A raise would be nice, but I don't want to lose my sanity in the process. I'd love to stay at my current jo , but $25k is too much to pass up. I'd really just like a raise of $10-15k to with my current employer. Does it look bad to ask my employer for a raise? Or is this new offer worth it, given more hires and higher stress? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I'm confused on how to go about paying taxes for an under the table job. Posted: 07 Jan 2018 01:43 PM PST So someone I know has been working under the table as a nanny full time. She made about $25,000 working for multiple families and such. She's doesn't know how to go about paying taxes for all this as she's never done it before. Will IRS come after her since she's saved most of it in her account? How does she go about doing taxes for all this? She has saved almost every check she's gotten from the families. [link] [comments]  |
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