Personal Finance Weekday Help Thread for the week of February 26, 2018 |
- Weekday Help Thread for the week of February 26, 2018
- My friend has an accountant who claims they can get a lot of money back, even amend old years. If my friend gets audited, they claim "they will handle it no problem". What's going on here?
- 4 years of struggling finally over
- Friendly reminder to set a limit on pre-authorized payments on small bills (cable, internet, phone, utilities, etc) or disable them completely as billing errors happen frequently and can put you in a bind easily.
- Car payment is stopping me from getting my own place. What should I do?
- 25 yrs old. Soon to receive $25,000 from mothers will. Investment advice?
- Mother filing for bankruptcy with my car under her name
- Mental health vs having a paycheck
- If a house is listed at $160K and we put $100K down will we be able to get a 30 year mortgage?
- Did I just get taken?
- Both Mint and personal capital are a pain to use.
- Taking over another persons job on top of mine. How to know how much of a raise to ask for??
- Just received my first check for my services as a "self-employed contractor". What's a good way to utilize this payment so I don't screw myself tax-wise.
- Starting anew in life and nearing age 40. Want to get to Point B after languishing at Point A.
- Recieved A Job Offer Thats Really Dissapointing - Low End of the Advertised Salary Band, and 20-30% Below Market Rates For Similar Position in the Same Location. Unsure How To Proceed With Negotiations
- Previous tenants did not cancel gas service - I am now being told to pay a bill with no invoice/itemization
- Which insurance provider to choose?
- Filing taxes, part time W2, part time self employed, possible crypto currency tax as well
- Refinanced the house!
- (IRE) Step-Father very recently diagnosed with terminal aggressive cancer, mother disabled and unable to work - if he dies, what do I need to do?
- Asking about total shares of a private company?
- I left the last digit of my bank account number for my tax refund to be direct deposited. What do I do now?
- Anyone have experience with the Columbia General Studies School?
- Can my estimated buyers expense document differ significantly from a lenders loan estimate?
| Weekday Help Thread for the week of February 26, 2018 Posted: 26 Feb 2018 05:09 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.While we never remove posts just because a question is answered in the wiki, this thread is a low-key place to ask any question no matter how "moronic" you think it might be. Make a top-level comment if you want to ask a question! Also, please don't downvote "moronic" questions! If you have not received your answer within 24 hours, you can feel free to start a discussion. A big thank you to the many PFers who take time to answer other people's questions! For past help threads, please search the Weekly Archive. [link] [comments]  |
| Posted: 26 Feb 2018 07:26 AM PST United States: My friend says he went to this accountant and they amended past years and went from owing the IRS to them owing HIM. He lives a normal life style, doesn't have a mortgage, doesn't go to school, basically it should be a 1040ez. The accountant has to be lying about what they are reporting right? Would he ever get in trouble if he were caught or is the liability all with the accountant? [link] [comments]  |
| 4 years of struggling finally over Posted: 26 Feb 2018 05:07 PM PST I've seen so many people on here sharing their success stories after they've overcome a huge financial hurdle and I can finally throw my hat into the ring! When my Wife and I married about 4 years ago we made a series of bad financial choices that landed us in about 20k worth of debt which was only compounded by my desire to finish my Bachelor's degree and her desire to finish hers afterward. We are a single income family and things have been skin tight with our budget for a good while. There have been times when I've wondered whether or not I'll be able to get the gas in my car that I need to get to work, and whether getting said gas will prevent us from putting food on the table. Fortunately, as of today, we have paid off both of our credit cards totaling about 5k in debt and both of our car loans. This has landed us in a position where for the foreseeable future we will not need to worry about being able to put food on the table or gas in the car and with the 1000 dollar savings account we opened yesterday, we are officially out of the realm of "totally screwed if the wind changes." I want to thank everyone on /r/personalfinance. Whenever things felt particularly grim I frequented this sub for reassurance that we weren't alone and it is possible to escape your debts with sheer determination and grit. [link] [comments]  |
| Posted: 26 Feb 2018 06:16 PM PST Just got an incorrect bill for over $500.00 from an ex-cable/internet company nearly a month after I cancelled with them and moved, due to them not processing my returned equipment. Its probably common knowledge not to do this, but I had always set them up to take the total amount every month and set no-limit as my bill fluctuated slightly due to bonuses/promotions activating and expiring. If they don't have an option to limit the payment amount, spend the extra 2-5 minutes to read your bill, understand it, and then pay it through online or by CC. It could have put me in a real bind if I wasn't financially prepared or if I was a student, etc. This may only be applicable in Canada, Im not sure. [link] [comments]  |
| Car payment is stopping me from getting my own place. What should I do? Posted: 26 Feb 2018 10:54 AM PST So I have a $570 car payment every month. I live rent free with my uncle and all I have to pay is the electric bill. I want to get my own place as soon as possible but this car payment is really dragging me down. My dad and I co-signed on the car in the summer of 2017 because he said it was a good deal (he's a car salesman so go figure) and that it would help me build credit. Well since then I had to take another job that pays a lot less, along with taking on a few extra bills that I didn't expect to have. A few months ago I told him that I was having trouble making the payments and that I have had to dip into my savings on more than one occation and that kills me. I asked him if I could trade it in or sell it back and he said that I would end up owing just as much as I do now anyways. He told me that I should refinance my car with my SO because we both have better credit than he does. That way I would have about a hundred taken off the monthly payment. We were about to do that about a week ago and dad calls me and says that he is going to file for bankrupsy soon and to take him off as co-owner asap so that it doesn't hurt my credit. Explaining this who debacle to my mother (they're seperated) she asks "Why don't you just take your name off the car and leave your father's name on it. That way you can get rid of it and get a cheaper car". Dad says I can't do that without having the car paid off first. The reason I've turned to r/personalfinance is because both of my parents aren't doing very well in life and since I don't know any better, every time they tell me I should do something, I usually believe them (they are very persuasive). So what should I do? Refinance the car and still pay around $400 a month for this car? Or should I try to get rid of it somehow? Edit: I make about 20k a year (this will go up soon because I will start working full time after this semester) and my SO makes about 15k. The interest rate on the car right now is 12.69. And the principal balance on the car is $25,587. [link] [comments]  |
| 25 yrs old. Soon to receive $25,000 from mothers will. Investment advice? Posted: 26 Feb 2018 12:02 PM PST Hi, thanks for taking the time to read this. Like the title says, in a few days I will be receiving $25,000 dollars according to my mother's will. I'm thinking of investing $5-10,000 at least, I just have no idea where to start or what the best options are. I work from home freelancing and have very few bills. There is a trust set up for me in which the remainder of my mother's estate is invested (stocks and securities I think?) that gives me a small monthly allowance. I just want to have something of my own, separate from the trust, invested for the future. I'm pretty clueless about how to go about this and am not very well versed in this kind of thing. Any suggestions/advice would be awesome! Thanks again. Edit: I have no debts. [link] [comments]  |
| Mother filing for bankruptcy with my car under her name Posted: 26 Feb 2018 11:02 AM PST Hello, Im student currently living with my mother who will be filing for bankruptcy very soon. A couple of years ago when I got my first car she co-signed for me with payments that I would have to make. For two years I have been faithful with all my payments and I do not want to have my car taken away because of my mother's current situation. Is there anything I can do? Thank you for any kind of insight or advice. [link] [comments]  |
| Mental health vs having a paycheck Posted: 26 Feb 2018 09:44 AM PST Hey guys, hoping for some good advice on what to do. Sorry about the long post, its a doozy. I appreciate any opinions you can share. Hopefully this is an appropriate topic here. I'm 25 years old and just graduated with a bachelor's less than a year ago. I'm working an extremely tough job at the moment. Its VERY physically demanding (I wake up sore everyday, and by the end of my work week I can barely stand and lift the things I need to. My two off days are barely enough to recuperate.) I wake up at 4am every morning for work, and have a required ten hour work day. However, mandatory breaks are not built into this 10 hour day, so if i need to eat or take a break, that time is just added on. I get paid a daily rate, with no overtime over 40 hours, because the company claims its built into our paychecks. This is a job as a beer merchandiser, and I have 6 stores i am required to visit daily. However the expectations of my managers do not mesh with the expectations of the store managers quality wise. So nearly everyday of the week I'm working 11 to 12 hour days with no overtime, no breaks, and a lengthy commute. I feel like a 50 year old because my body is constantly sore and in pain, even though before this job ive always been physically fit. The grocery store managers I work with are the epitome of stereotypical retail managers. They are rude, uncaring, and fly off the handle at the slightest problem. I'm basically a grunt to them, and they dont have any respect for me as a person. Every single one of them complains daily about my company. They demean me in tones that make want to walk out of a store. The other night one noticed that I missed filling a product fully (3 in the case instead of 4) and the store manager called all three of my managers to say i never came in (there's a sign in sheet I sign every day)and for the rest of the night I got calls and texts from my managers disciplining me. And when I convey my concerns to my managers ( I have 3 different ones ) they all say, yeah we'll look into it, but nothing ever gets done. Ive been working this job almost a year and the same problems I noticed and reported my first week are still going on. Basically, there are no good selling points to this job, besides a paycheck. Its a toxic environment. So obviously I need to find a new job. I'm starting grad school in August, so ive already informed the conpany I'll be leaving by then. Ive tried to apply to a few jobs but no luck so far. My biggest inner battle (which is where you guys come in) is the state I'm in right now. Ive struggled with major depressive disorder in the past (no therapy anymore but still on meds). I was at a place when i started this job where i was happily improving myself and felt good about where I was at. Because of this job I no longer do. I barely sleep because of the stress, I've been drinking more than I probably should, because having a beer or two each night is quick and effective at releasing the stress i carry in my body. I have no time to practice my hobbies or honing my more "Zen habits" to help with depression (meditation, tai chi) and exercise is impossible because of how physically drained I am. I leave for work at 415, get home past five, and by the time I shower, make and eat dinner, and take care of random chores, I get about an hour of free time before I have to try to sleep (which is around 8, but i can never fall asleep until 9 or 10). Because i have so little time, and no motivation to do anything that can actually help me, I'm definitely not pursuing my job search as seriously as I should. I feel pretty hopeless right now. I dont believe ill be able to find a job more compatible with school if this pattern continues. My heart is saying quit the job and take some time to work on yourself again and find a new one. I'm currently been living at home since I left college, and pay a small rent to my parents(300 per month). But ive saved up over 12 grand from working the past year, plus savings from jobs before that, so finances arent a problem for a few months here. But it was drilled into me by my parents to never, ever quit a job without another one lined up. I dont want to be irresponsible, but I feel like I'm literally breaking down at this job and I'm not sure what to do. Any advice would be helpful. Ill be prompt with any questions in the responses. Thank you. [link] [comments]  |
| If a house is listed at $160K and we put $100K down will we be able to get a 30 year mortgage? Posted: 26 Feb 2018 01:58 PM PST I'm curious. We currently own a home. We owe $180K. Current Zillow estimate is $334K, and based on recent sales in the neighborhood I'm sure we could sell for $320 -$360, so I'm not asking about that. My wife and I have been talking about slowing down and living a bit more simply and to that end getting a smaller house in a smaller town. We have seen a few houses in the $125K - $160K range that we really like, so my question is. If we sell for $340, pay off the $180K current mortgage, transfer tax, realtor fees, etc, we should easily be able to put $100k down on a house. So if we put $100K down on a house that is valued at $125 - $160 will they do a 30 year mortgage for that amount or would we be looking at a 15 year mortgage? Thank you! [link] [comments]  |
| Posted: 26 Feb 2018 01:47 PM PST Went to a 2 hour presentation for "Wyndham Vacation Ownership". Was tempted to buy since the points were usable anywhere and anytime unlike a timeshare, so it seemed like a good deal. Especially since we save $400/mo for vacations and getaways already. But when I saw "maintaince fees" meaning that even if I paid off these points, I'd still be paying, I balked. On our "exit interview", they offered us 300,000 points for $3000, without maintenance fees to "try the system out", and we bought in..... Now that I've had a night to sleep on it.... I'm unsure if I've been taken for a ride or not. I did it thought paypal and if this is a sham then I'm wondering if I can undo this..... Any advice is appreciated. [link] [comments]  |
| Both Mint and personal capital are a pain to use. Posted: 26 Feb 2018 05:47 PM PST I desperately need a budget I can commit to the will be easy and painless. Any other apps that are useful or not a hassle use? Or maybe some way I can make it easier to use these apps. [link] [comments]  |
| Taking over another persons job on top of mine. How to know how much of a raise to ask for?? Posted: 26 Feb 2018 12:14 PM PST I've been with my company for almost two years. I recently had my review where I planned on asking for a raise. At the start of the meeting my boss informs me that two of the four people in my department are leaving and won't be replaced. Their work will be given to me and the other remaining worker. Before this information had come to light I had expected a 5k raise, now that I know my work load will nearly be doubling and the company is cutting two wages off their books what salary raise is reasonable to ask? I'll only get one shot at this so I don't want to ask for something I'll never get but also don't want to undersell myself! [link] [comments]  |
| Posted: 26 Feb 2018 12:54 PM PST Hi, As the title states, I just received my first check for my services as what I believe to essentially be a self employed contractor. I work as an assistant to a musician and they asked if I could bill them an invoice for my work and then they send a check in the mail for the amount requested. Having only worked business where money for taxes was taken out with each paycheck (food services & medical) I'm unfamiliar with how to go about saving for taxes in this type of situation and was hoping to see if anyone can help offer advice on how to prepare. Is there a standard good percentage to save from each check? Does it matter what state you live in? I don't make a lot of money so it's very tough trying to figure how much to set aside for taxes when I feel like in the immediate circumstances, all of the money I make should just go towards rent/utilities/food/transportation until I can get ahead in my earnings. Thanks for anyone who takes the time to read this & I appreciate any advice that anyone has to offer. [link] [comments]  |
| Starting anew in life and nearing age 40. Want to get to Point B after languishing at Point A. Posted: 26 Feb 2018 03:57 PM PST I grew up in the antique business. I've been buying and selling antiques on and off for 25 years. For the last decade I've been doing it exclusively while taking care of my parents who have some health issues. I don't make a lot of money at all. I'm less than $10k claimed per year, but my folks keep me afloat in exchange for taking care of them and their property. Obviously, it's not the ideal situation for someone at my age. Thankfully I don't live in a basement. My last real jobs (working for someone else) was in 2000 (SEO/Internet Marketing Manager for a dot com bust) and 2002-2004 (manager for a yarn company). My antique business is eBay based, for the most part, and I have accrued over 10k positive feedbacks. I work. I don't mess around, it's just a dying business for me, especially for eBay. So, I need a change and a change of scenery. My folks will eventually move to senior living and I need to GTFO and live my own life. I have some skills in managing, sales, and writing. I have a BA in English/Creative Writing. I'm not looking to jump into a career and go from peanuts to 100k and retire in 20 years. Just.. No. I know I have dues to pay, as well as debts. I want to take this year to plan on my move and get myself sorted. I have 65k in school debt that's been sitting there gaining interest due to income driven repayment. I have about 2k in various debts here and there. I have no savings. I haven't checked my credit in half a year. I did so when I wanted to rebuild it and see where I was at. I think it was around 680. I got a secured credit card and I've been using it and paying it off on, or ahead of time every month. As it stands right now, my monthly bills are minimal... Around $300. What I want to do is probably laughable, but simple enough. I just want to move to Colorado (I have friends there, I don't have any locally) and start over. Get a job, any job, and work toward becoming debt free and eventually saving some retirement, even if I have to retire at 70. I'd like to invest a little. Have a savings. Live a normal life. I know this will be hard. Leading up to the move, let's say a year at best, two at worst... What should I do? I live in a town of 300 people and the nearest work is probably 30 miles or more away. It's very rural here. I don't have a car. I know getting one will be a priority. So, beyond that... Anyone who has started over/fresh do you have any suggestions or anecdotes or experience in what I need to do and what I need to expect? With this much debt I hate to think bankruptcy is an option - especially for school debt. Any insight on that? Considering my age, what are the best ways to invest toward a retirement when the work I'm likely to find is entry level for the next few years? Saving for moving across the country is my secondary goal, I'm trying to build it so that I have savings to start on after getting a quick job or oh shit money if I can't find a job for awhile. I hope some of this makes sense. I feel like I just dumped a crap load of text on your faces. Thanks for your time! I promise I'm not a bum. [link] [comments]  |
| Posted: 26 Feb 2018 12:34 PM PST Hi all Long time lurker, first time poster in need of some advice. I recieved a job offer from a government branch, for a pretty interesting role in one of their research & analysis departments. I have an undergraduate and masters degree related to the role and I have previous experience in both research/statistics within the academic/commercial environment since graduating from a 1.5 years ago (in my masters) within the top 5% of both my cohorts. After going through an intensive background check lasting over 4 months, i finally received an offer of employment on Friday through the post, fixed for a few years. The offer i received however is at the minimum salary cap of their particular pay grading. I am sure though the pay grade they have offered me is a grade lower than the one i was initially told and advertised. The job listing has since been removed, so i have no way to verify the original salary advertised. I have to say im fairly dissapointed with the offer. After doing some additional research over the weekend for similar roles and titles of the job and its responsibilities, i have found that depending on the source (indeed, glassdoor), the salary being offered to me is 20-30% below the current market rates. Since this realization, i have become even more dejected with the job offer. I want to start a negotiation process that can bring the offer up more inline with the market, but have no idea how to do that. At the moment, im at a big disadvantage. I dont have any other job offers lined up so i cannot leverage this offer against others. Additionally, my current job is a stopgap crappy retail job that i have been doing whilst continuing with my employment search just to reduce the time ive been unemployed. This new job is marginally better than that, literally. In short - I'm unsure how to initiate the negotiation process as i feel that the job offer is extremely low given my research into the market and my current experience & skillset. I dont have any other opportunities at the minute, so i could really use some advice from this sub. What should/can i do? Thanks 0_33 *EDIT - How can I negotiate without coming off as arrogant, entitled etc. My previous academic/commercial experience base salary paid alot higher than what this job is offering, and the market rate base salary is much higher than what this job is offering as well. [link] [comments]  |
| Posted: 26 Feb 2018 02:13 PM PST I brought this up in legaladvice without much luck, hoping for a better answer here. Let me preface this by saying that I am not trying to get out of paying my bills, I am a responsible individual and pay my fair share. Onto the pickle that I am in. I have lived in an apartment since August with my girlfriend. When we moved in, we got a notice to switch the electric to our names. We never got a notice to switch the gas service to our names. We received an email from the landlord saying that they got a notice from the gas company that they will be disconnecting our gas service and to call the gas company. We call the gas company and they tell us we owe $370. The previous tenants never cancelled the service for this apartment and we are being served a bill that was under their name, but supposedly for the time that we lived there. I asked for the itemized invoice/bill so I can see if they charged me any fees for a mistake that is not fully my fault and to make sure I am only being charged for the months I have been living here. They tell me that they cannot release any information about the bill, since it is not in my name (it is under the previous tenant's name) and that I am legally required to pay the bill because I am the current tenant. I said that I need more information before I pay the bill and they still will not release an itemized bill. So I have no information on how much gas I used, how much I am being charged for the gas that I used, if I am only being charged for the months I have lived there, or if there are any fees tacked on. This all seems sketchy to me. How do I get them to give me an itemized bill? I don't think my service will be disconnected for a few days according to the gas company. I am in the state of Iowa if that helps. [link] [comments]  |
| Which insurance provider to choose? Posted: 26 Feb 2018 03:42 PM PST Hey everyone, I'm turning 26 soon and have to 'jump ship' from my parent's health insurance plan. I want a reasonably cheap package given a low income, but I don't want to miss vital coverage. I'm looking to strike this balance. Not too sure where to start. Many thanks for the help. Edit: spelling [link] [comments]  |
| Filing taxes, part time W2, part time self employed, possible crypto currency tax as well Posted: 26 Feb 2018 07:12 PM PST The crypto currency is probably unlikely as I don't recall/have really made any gains in that aspect, it was mostly me losing money through the fees as I traded between different altcoins. I actually have to go through and trace all the trades/transactions I made on different wallets/apps ugh... The actual question. Last year I only made like $800 as a freelancer and I just used HR Block. This year made just over $5.5K as a freelancer. I have not been paying any of the quarterly taxes. The sources are from different places too, 12% from UpWork and then the rest from 1 client/company that I have been working for, for a few months. I've been researching, I'm sort of trying to avoid HR Block. Heard about Tax Act, 1099, Schedule C... I'll keep searching. I have a creditkarma account I see that you can file taxes through them. I'd appreciate any help. [link] [comments]  |
| Posted: 26 Feb 2018 05:58 PM PST Thank you so much Reddit! So happy to finally get out of a FHA mortgage with PMI. Plus almost 1% less interest rate and went from a 30 year too a 15 year. Rolled the kitchen renovation into the new mortgage (was paying 8% on that loan) and the new monthly payment is less than the old mortgage plus the kitchen loan bill. I have you all to thank for this. Been wanting to do this for a while. Next step with the extra monthly savings is I would like to invest. Currently have a TSP going maxed out but would like to do a bit more. Thinking the Acorn app to and maybe a DRIP (like 3M). [link] [comments]  |
| Posted: 26 Feb 2018 03:51 PM PST note I have no idea where else I'm supposed to ask this question, so I've put it here. My apologies if it's not the most appropriate subreddit. I'm an 18 year old Irish student, doing my Leaving Cert (The final year of secondary school with an exam at the end of the year determining whether or not you go to college and what you do) On Thursday last, my step-father was diagnosed with an extremely aggressive form of cancer and is expected to be in his final few weeks. My mother has a condition called psoriatic arthritis (the worst case her doctor has ever seen), leaving her bed-bound and unable to move 4-5 days a week and, obviously, unable to work. We have no savings or any sort of contingency plan for this scenario as we've used it all to pay for attempts to get my mother's life back on track, all of which have been futile. There's quite a large mortgage on my home and lots of other bills to be paid, and as mum can't work, there's almost literally €0 income to my household. Reddit, if the worst comes to worst - I need advice on what to do, be it what I or others need to do. [link] [comments]  |
| Asking about total shares of a private company? Posted: 26 Feb 2018 03:45 PM PST If I'm offered a position of salary and 100,000 shares that will vest over 4 years but didn't think to ask about how many total shares the company has, can I ask and expect an answer? Or is this typically internal information? I'm trying to internally figure out what my shares might be worth but it's hard because there are no public companies in my industry with similar numbers in regards to revenue/shares/employees... Does anyone have any tips? [link] [comments]  |
| Posted: 26 Feb 2018 09:46 AM PST My tax refund was supposed to be direct deposited no later than 2/28. Looking at my bank info, I realized I left off the very last digit of my bank account number. What happens from here? [link] [comments]  |
| Anyone have experience with the Columbia General Studies School? Posted: 26 Feb 2018 07:45 PM PST Its hard to find an unbiased place to ask about it so hopefully people here can help me. Basically, its a school for non-traditional students and I'm considering applying there. I know that some other Ivy League schools have same programs for non-trads. From what I understand, Harvard Extension school is considered a really bad degree while similar degrees from Brown and Yale are a good investment. What do you guys think of Columbia GS? Would potential employers care that it says General Studies instead of Columbia College on my degree? Thanks. [link] [comments]  |
| Can my estimated buyers expense document differ significantly from a lenders loan estimate? Posted: 26 Feb 2018 07:21 PM PST In regards to a mortgage. Our mortgage company sent and had us sign a document entitled estimated buyer expense. Total closing costs were $4800 (exluding downpayment). We get an offer from a lender via our loan officer and the lenders total closing costs are over $10,000. Does this seem normal? [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment