Personal Finance Company accidentally sent me employee payroll information: Found out I'm being paid vastly less than my colleagues |
- Company accidentally sent me employee payroll information: Found out I'm being paid vastly less than my colleagues
- Homeless for 6 years. Signed a 40k salary today. Life changes at any moment. Help me budget
- Manager laid off, leaving me alone to manage 19 hospitals/clinics...
- The gym I belong to is taking random payments from my checking account and won’t stop?
- I just countered an offer and I'm terrified.
- Learned the Importance of an Emergency Fund
- Saving extremely unfulfilling
- Doctor confirmed lab was in-network, lab thought they were in-network, and now I have a 10k bill.
- I’m a 30yr old professional in the oil & gas industry with $140k in student loans. Interest rates vary from 3.5-7.5%. My total min monthly payment comes out to $1500. Monthly take home pay is $3600. Other monthly expenses are $300-400. How should I tackle my debt? Avalanche or snowball method? 401k?
- Justifying use of Emergency Fund
- Someone tried to scam me and now I’m getting emails and texts from an “FBI” agent. What do I do?
- Mother (66) only has 350K for retirement but plans to retire at 70. How do I increase her nest egg?
- Young couple with $19K in Credit Card debt and a baby due in September. Best plan of attack?
- (CAN) Sister wants to buy duplex together
- Sister made about $20K in side gigs, 1099s. She hasn't made estimated payments at all. Is she screwed?
- Should I rent a house with my childhood friend or should I rent an apartment of my own even though it would cost me more $$$?
- Advice about my neighbor
- Refinancing my home loan. Is 4.375% for 20 years a good rate today?
- Just paid off a loan the had a cosigner, now what?
- Should I prioritize building up my emergency fund, paying off debt, or creating a retirement account?
- Grandmother gave me $5000 and I'm not sure what to do with it
- "someone" has purchased a car in my name and using my ID and the dealership contacted me saying my car is ready.
- I’m almost 22 with no savings. I’d like to move out of my parents’ house soon but I’m not sure where to begin the process. Can you help?
- Are there any disincentives to close an existing bank account when switching to a new bank?
| Posted: 28 Mar 2018 09:00 AM PDT Hi /r/ Personal Finance I live overseas and recently I started working with a new company. About two weeks ago I received an email with some information that needed to be reviewed by HR and one item (out of many) ended up being partial company payroll information for employees in my department. My best guess is that the file was accidentally saved under the wrong title, because it's not obvious from the attachment file name. No one knows I have this information. What is shocking was to see how little I'm earning in salary compared to several colleagues. I'm the new head of my department but I'm not earning close to what several other employees are earning; even some with lessor positions. Those with equal-ish footing to my role are essentially earning about twice to three times the amount I earn. Obviously I want to now renegotiate my salary and a better package; maybe even back-pay; but as I'm new to the company I want to proceed with some caution. Not sure the best way to go about this to keep myself protected, increase my salary, and to avoid this biting me in the ass somehow. Any advice? Edits Didn't expect so many messages this morning. To answer a few questions, I should point out a few things.
I don't care about pay discrepancies of $10k or $20k; However this is double and triple my earnings; This is not cross-departments either; this is in my department and I oversee many of these people. Market-wise; yes I'll be looking for other employment as a back-up, but my earning wage is higher than market rates and my industry is a bit unique. My interest was to get advice on the best way to go about increasing my salary to these new levels; with the information I have. Not necessarily by tomorrow! Edit 2 Because seniority keeps being brought up . This payroll information only includes the people newly hired during the last 1 year. The company starting date is listed on the document, and I've been able to confirm that information is accurate. Also, I'm located in Asia - This is not an expat relocation package. I live here and the people in my office are also from said country. Pay differences aren't a big deal. However, 2x to 3x pay difference is a big deal. Salary was negotiated, I'm earning more than my counterparts at different companies of the same industry. Been in this industry for 10+ years and know the market rates. My information is listed on the document, so I can see how the calculation is being done. Edit 3 Lot more response than I expected. Will do an update post later and include some more information. [link] [comments]  |
| Homeless for 6 years. Signed a 40k salary today. Life changes at any moment. Help me budget Posted: 28 Mar 2018 12:26 AM PDT Title. Homeless for the last 6 years. 25 now. Making 40k salary managing a sports center's website. How do I into not fail at life financially? So far I plan to save 10% with some sorta compound interest... are money mutuals the way to go? I mean I read a book in jail about it once. Hah. maybe 5% to an emergency fund a month? My >>current expenses are a cell phone at 40/mo, probation at 40/mo, and treatment at 240/mo I know I have tons of bills and etc but I don't know how to even begin knowing what bills I have. To anyone down on their life, work hard and remember anything can change at any moment. This is your story. Begin with visualizing how the last page reads. I've tried to end my life at times because I felt so down and luckily I failed multiple times. I've made mistake after mistake. But I learned from them. And even when I didn't have a bed, I organized my space every morning to feel like I had atleast done >something< for the day. Cheers [link] [comments]  |
| Manager laid off, leaving me alone to manage 19 hospitals/clinics... Posted: 28 Mar 2018 10:51 AM PDT I currently work in a medical IT role that supports 20 different hospitals/clinics. Previously, myself and my co-worker/manager split the workload (he'd manage 10 sites, I'd take the other 9 and cover each other as needed). This morning I was notified that his position was closed effective immediately. As of right now I'm completely lost as to what I should be doing. I am physically unable to properly support 19 sites (some requiring me to physically drive there versus remote desktop help), I don't have the knowledge/experience that he provided, nor am I qualified to acquire a big enough raise due to being capped at my current position (manager position requires a Master's with much more experience than I have). To clarify, I've been working at my job for 1.5 years (all of which was more or less learned on the job) while he had been in his position for 10-12 years and was responsible for building the system we have today. I was the back-up/assistant, and now I've been thrust into a manager position with no heads-up and no mention of an increase in pay. I currently make approximately $76k/yr, and I'm estimating he was closer to the $120-130k/yr range. Should I be looking for new work? Hiding? Attempting to renegotiate a contract that will work me to death? Help :( Edit: As I've mentioned in the comments - I've reached out to my boss and we're planning a meeting next week... BUT... she made it clear that "No one else has received raises", so, the outlook is grim. [link] [comments]  |
| The gym I belong to is taking random payments from my checking account and won’t stop? Posted: 28 Mar 2018 12:14 PM PDT The gym I belong to has been taking random payments out of my account, so about a month ago I talked to the shift manager (I think?) and he said that it would be looked into. I had gotten no word back from them so I went back and asked the same employee what was happening, who said he brought it to his boss and it was getting "figured out" or something along those lines. Now, I've just gotten another charge taken out which resulted in me getting an overdraft fee. I just placed a call with somebody who said they will have the shift manager call me back when he comes in tomorrow. This isn't normal right? I'm fairly naive and young so I'm not entirely sure how I should handle this. I have screenshots of my bank statements that record the charges, and I emailed those to the shift manager when I originally went in the first time. I'm going to go put the last of the money I have into my account to put my balance back to positive. What should I do? [link] [comments]  |
| I just countered an offer and I'm terrified. Posted: 28 Mar 2018 10:21 AM PDT Just waiting for a response is killing me. I was made an offer to bring me on as an associate with the company I've been contracted to for the past 3 years and they undercut my original ask by $10k. I countered with my original offer and the anticipation is killing me. Wish me luck folks. I wouldn't have countered if I hadn't seen so many posts here saying to be a better negotiator. [link] [comments]  |
| Learned the Importance of an Emergency Fund Posted: 28 Mar 2018 07:15 AM PDT What I thought would be a routine maintenance fix on a flat tire turned into an expensive morning. While changing a flat, my car fell of a jack and damaged the rotor and misalligned the axle. I took the car to a tire shop and found that I was in desperate need of new tires on all four wheels. What I thought would be a $150 fix turned into close to $700. A year ago, I would have been freaking out over this. After another financial issue, however, I had a little over $1500 stashed away for emergencies like this. What turned out to be a major cost barely made me blink. Emergency funds can really help with relieving financial stress. I'm also hoping insurance will help pay as well. [link] [comments]  |
| Posted: 28 Mar 2018 01:40 PM PDT I've been struggling for a while with this and I started to wonder if anyone else feels similarly and/or has ways to combat it. I have a good job with a pension and contribute about 15% of my gross pay towards retirement (additional pension contribution/457/Roth IRA). My emergency fund is fully funded and I have significant equity in my home. So suffice to say I'm in a pretty good place financially, I could probably afford to put away more, but that's where my problem lies. As a family we make sure to live within our means. I pack a lunch every day, my wife takes pride in cooking healthy low budget meals, we drive used cars, etc, etc. Despite (or maybe because of) all of this, I can't help but feel unfulfilled. I see people driving nice cars, with bigger houses, going on extravagant trips etc and I get jealous and a little depressed. The rational part of my brain knows that my chosen career means that, while I'll be comfortable, I'll never be rich and that I'm making the correct responsible choices right now. The emotional part of my brain is telling me that this sucks, I deserve nice things and you only live once. Putting money into my Roth IRA just doesn't feel as good as when I (albeit extremely rarely) treat myself to a new sweater/phone/whatever. So my question is how do I reconcile the two? What do you do when doing the "right thing" doesn't feel as good as the "wrong thing"? [link] [comments]  |
| Doctor confirmed lab was in-network, lab thought they were in-network, and now I have a 10k bill. Posted: 28 Mar 2018 09:41 AM PDT In November 2017 my doctor ordered a skin punch test, that would need to be performed by a dermatologist. A few days before the appointment in mid-December, I called my insurance to verify that a pre-authorization had been submitted and they said it had not, but it was unneeded as the procedure was covered. When I called the doctors office to confirm the lab the sample was sent to would be in-network they panicked and said they may have to reschedule my appointment because they did not have any lab kits. The doctor's office was actually quite nice, and over the next few days we spoke multiple times. The day of the appointment the appointment time was pushed back multiple times because they were having a kit delivered from a lab that was covered by my insurance. I asked them multiple times if it was in-network and they verified that it was. They finally called me and told me to be there in 20 minutes, and when I asked for the name of the lab the front office receptionist did not know. In January I got a noticed from my insurance that the lab was NOT in-network and that I owed the lab around 10k. I called the doctor's office and they were shocked and once again said that the lab confirmed they were in-network. When I called the lab they had not received any notices that the procedure was denied, and said that it should have been covered. I received a letter from the lab shortly thereafter that said they knew I had no choice in where the lab was sent and they wanted to appeal on my behalf. I signed the paperwork they requested allowing them to appeal, and just received a notice from my insurance that the appeal was denied. I now owe 10k for an out of network lab . I couldn't push the appointment back without owing a 200-dollar cancelation fee to the doctors office, and delaying the appointment would not have been possible without having the procedure done in January when my insurance max out of pocket resets. What is the best way to address this? I have heard of this happening and wanted to do everything in my power to avoid it, but it happened anyway. [link] [comments]  |
| Posted: 28 Mar 2018 08:24 PM PDT I do contribute 15% to my 401k. Dave Ramsey says to throw everything at debt. Should I decrease my contribution for the sake of paying off debt quicker? My company matches and I save on taxes so I'm weary about not contributing into my 401k. Paying down the debt as quick as possible is my top priority though. P.S. I'm not an engineer. I'm currently in artificial lift operations with decent opportunity to advance my career. 4 years experience. Bonuses are about 10% each year. Raises so far have been about 4%. Definitely considering going back for an engineering degree. But, is another $50-75k debt worth it?! [link] [comments]  |
| Justifying use of Emergency Fund Posted: 28 Mar 2018 10:15 AM PDT Am I the only one who has a problem bringing myself to actually use the emergency fund for an emergency? I guess I'm always afraid that it's not really an emergency or that some other, worse, emergency will come along and I'll be stuck. I'm basically homeless right now due to a natural disaster. If there's any situation that would be classified an emergency, this is it. I'm living in a hotel. I'm having to eat 95% of my meals out. My insurance will eventually reimburse me for most of this (hopefully without too much fighting). But I'm having a real problem justifying pulling money out of my emergency fund to pay for all this. [link] [comments]  |
| Someone tried to scam me and now I’m getting emails and texts from an “FBI” agent. What do I do? Posted: 28 Mar 2018 09:20 AM PDT I'm not sure if this is the right place to ask for advice regarding this. I'm a college student and don't really have anyone else around to come to for help. These people have my address, I'm not sure how to proceed. This all started last month, when I posted an ad on Craigslist trying to sell my bike. A few days later, a guy contacted me via email and said he wanted to buy it for his son, but he was away from town so he would send me a check instead of paying by cash. He said the check would arrive in a few days, so I waited. It took him nearly 3 weeks to send the check, and he sent it in a big package with a tracking number, which was very strange. He also contacted me 2 days before the check arrived and said it would be for over $1000 (I only sold my bike for $250), and that the extra would be for a shipping company that would come pick up the bike for him. When the check arrived, it looked extremely suspicious. The address on the envelope was from one company in Arizona, the address on the check was from a resort in Florida, and the number he gave me was from California, so it seemed extremely fishy. I showed the check to my friend who works at a bank, and he said it's fake because part of the print was very pixelated, and the signature was poorly printed on and very blurry. I texted the guy, saying I did not cash the check and has thrown it away, so he can cancel the payment. I then blocked his number and email address. Two weeks later (today), someone claiming they're an FBI agent is emailing and texting me saying he's received complains from the guy, then threatened to "carry out regular duty" if I don't send a refund. I know that this FBI agent is fake as well, and they're just trying to scam me into paying the money, but how do I handle this situation? Do I just ignore them? Is there someone I should contact? Edit: Thanks so much for the advices, everyone. Sorry if I seemed clueless, I'm not from the US and only moved here last year for university. I'll take more precautions in the future. [link] [comments]  |
| Mother (66) only has 350K for retirement but plans to retire at 70. How do I increase her nest egg? Posted: 28 Mar 2018 07:09 AM PDT Hi, everyone. Writing from a throwaway so I can give, and hopefully get, as much information as possible. My mother is 66 but still working and plans to work until she is 70. She lives alone in NYC and has a mortgage on a co-op that costs her about $1800/mo total including co-op expenses. No major health issues to speak of yet but I know that the majority of her retirement income will be spent on health care in her later years. I've estimated her food, gas, and household utilities costs to be about $1100/mo and no other debts that I am aware of as of this moment. My calculations bring her total monthly liabilities to about $2900. I plan on having her live with me after she fully retires (I'm in a different, equally high-cost city) so she can rent out her apartment and rely on that income in the future. What else can I do to ease her retirement? Would you recommend a specific strategy moving forward? Should she aggressively move her retirement funds into high-growth funds to take advantage of the market? I have my doubts about the last move as I believe this market is already too inflated. Thank you for your help! [link] [comments]  |
| Young couple with $19K in Credit Card debt and a baby due in September. Best plan of attack? Posted: 28 Mar 2018 08:11 PM PDT Hi all, Due to a combination of stupidity, poor financial planning, and some medical expenses, my wife and I have racked up $19K in credit card debt over the last two years. We were definitely living beyond our means and behaving like children. As of this month, we have finally gotten on our shit, created a budget with You Need a Budget, "tightened the belt," and started paying more aggressively on our credit card debt (this month we paid $800, about double the minimum payments). Prior to that we had only been paying the minimums, which, I know, is very stupid and is only servicing the interest and that's about it. We don't have much in terms of savings. $1100 in a CD, and $5900 in an individual account that is making basically 0 return but it is 100% liquid. Our credit card debt is as follows: $1,240 on a Discover card at 15.24% APR $2,250 on a Suntrust card at 22.49% APR (yikes) $15,500 on an AmEx at 18.49% APR. I make $52K a year and my wife makes ~$35K a year as a wedding photographer. My credit score is good, not great (~700, 709 last I checked). Right now I am thinking that the best plan of attack is to take the $5900 from the individual account and pay down the SunTrust and Discover Cards completely and then use the remaining part of the AmEx. From there, I'm thinking that I should either move part of that balance into a balance transfer card with like a 0% intro APR (because I doubt any balance transfer card will let me move $15k right away), and then make payments on both the balance transfer and the AmEx. Then I would apply for a personal loan through SoChi or Upstart or something on the remainder of the AmEx balance (which will probably be ~$10K I'm guessing) to get a lower interest rate and pay that down aggressively. What do you guys/gals think? Am I on the right track here? Am I missing anything? Thanks in advance. P.S. Before I get the slew of "now is a terrible time to start a family" comments... believe me, I know :( this baby was an accident... :) [link] [comments]  |
| (CAN) Sister wants to buy duplex together Posted: 28 Mar 2018 03:44 PM PDT Hey, so my sister just pitched me the idea of moving into an apartment/ duplex together for a few years and save our money together so that we could eventually purchase a duplex to live in. (we would purchase both side) This seems like a good idea to me but i'm not know for being great with money. What advice would you give me? My sister is divorced and has filed bankruptcy about 5-6 years ago and my credit is definitely not great but i am slowly building it back up. i am 22 she is 29. what concerns should i have and what would you guys see as pros & Cons? [link] [comments]  |
| Posted: 28 Mar 2018 04:52 PM PDT My sister apparently didn't even know she was considered an independent contractor (this was her first year working - she's graduating university soon). Should she have been filing every quarter? (She'll owe well over the min. $1K). If so, what happens considering she hasn't? [link] [comments]  |
| Posted: 28 Mar 2018 03:29 PM PDT I am 23 and am about to graduate from college with a full-time position already waiting for me. My new job is over a one hour drive one way so I want to move closer to work which is in Fort Worth, Texas. My best friend from way back in elementary school and I are pondering the idea of renting a house together so that we can save money on monthly bills and so that I can start paying off my debts in larger portions. My buddy is a responsible adult, graduated from TCU with a degree in business, we have never had a time in our lives when we didn't get along, he keeps his own apartment clean, has a stable full-time job, and a very healthy lifestyle. I don't see any issues between him and I so the idea of us renting a house seems practical, but I have been thinking about getting my own apartment as a backup plan just in case. I still want to rent a house with him, however the thought of having my own place is more appealing to me. I have looked at other apartments and found one I love, but it would be between 1.5 - 2x more expensive in rent to live there. The apartments are called Urban House Apartments(in Dallas) and I am looking at their 1 bed 1 bath floor plans that have just been upgraded. I have never desired to have tons of space wherever I live, I like to be able to minimize the space otherwise if I have too much space I don't use I feel like it is a waste of money. Another factor to consider is that I only need a place to live for 1 year until my girlfriend of 5 years moves to Texas, in which we will then get a place of our own in the DFW area. To me it boils down to whether or not I want to live for the now for one year at some shwag (this is sorta my catch phrase) apartments, or live for the future and save money with a friend I trust. I've asked many people in my life, friends, family, coworkers, and even professors and the results are about half and half. Any advice from the greatest website known to man? [link] [comments]  |
| Posted: 28 Mar 2018 07:52 PM PDT I was watching my neighbor's dogs/house while they were on a 2 week vacation. They go on trips pretty often and always ask me because I rarely leave for extended periods of time. They seem pretty well off, have 3 expensive cars, a boat, always throwing parties, constant lawn care/renovations, 3 kids in college. Anyways, one day before they came home the husband asked me to go through their mail and hide anything that looks like a bill saying 'his wife doesn't understand finance/it freaks her out'. Without getting too in detail, there were letters saying 'you need help', 'passed due', 'third notice'. Which leads me to think she has no idea what's going on. Should I tell his wife? I would want to know if this was happening to me. [link] [comments]  |
| Refinancing my home loan. Is 4.375% for 20 years a good rate today? Posted: 28 Mar 2018 06:37 PM PDT My home's estimated value is $630,000. The loan amount is $203,790. I am currently looking to refinance my loan since I am paying 5.1% interest. The interest rate Wells Fargo quoted me is 4.375%. The loan is a fixed rate, conventional 20 years loan. Looking online, I see the interest rate for the similar terms should be in 4-4.1%. However, I don't understand how the rate was quoted. How can I tell if I am getting a fair deal. [link] [comments]  |
| Just paid off a loan the had a cosigner, now what? Posted: 28 Mar 2018 04:34 PM PDT
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| Posted: 28 Mar 2018 03:34 PM PDT I am trying to determine what I should focus on: building my emergency fund, paying off my debt (student loans & my car loan) or creating a 401K. Ideally, finances permitting, I will do a little bit of all three, but I am living on a tight budget so one or more of these may have to wait. I want to get the community's input on what should take precedence. -I make $2,200 a month (post taxes) -I have $35,000 in student loans. My loans are in deferment currently because I'm in grad school part-time, however, about half of them (the unsubsidized loans) are still collecting interest. By the end of my program, I'll be looking at an additional $35,000 in debt. -I have $6,000 in my car loan left to pay off. My monthly payment is $210. I was able to get a low-interest loan so at my current rate (a 4-year loan, which I'm three months into), I will owe about $400 in interest, less if I pay if off early -my employer offers a 401K, with a $0.25 match for every dollar, up to 4%. I haven't saved anything for retirement yet. I'm 25 currently, so I have some time but given the uncetain state of Social Security I am a little scared. -I have $1,500 in savings. If I would lose my job, have a medical crisis, etc., that wouldn't go very far. -I currently live with family, but would like to move out. However, I know that would leave very little left over for the three aforementioned financial goals, so I am trying to get myself more financially healthy before I get my own place. My existing monthly expenses (approximately): $40 phone bill $100 groceries $40 pet costs $50 toward my family's utilities $220 gas (I have a long commute) $130 car insurance $210 car loan $80 health insurance $30 medications $20 toiletries $50-150 miscellaneous. What are your thoughts on which goal(s) I should try and prioritize? And how I should divvy up my income post-existing expenses toward these areas? [link] [comments]  |
| Grandmother gave me $5000 and I'm not sure what to do with it Posted: 28 Mar 2018 06:06 PM PDT As the title says I received a cheque from my grandmother for $5000 and I'm not sure to do with it. My current situation: 25 years old, earn about $55,000/year, have about 10k in student loan debt left (at approx. 4% interest), and a couple thousand in savings - I don't have a savings account per se, but my job provides me with a generous pension so contributing to retirement isn't a huge need right now. I am going back to school next year but my tuition is paid for through scholarships and my living expenses will be covered by working a part time job. In short, I'm looking for advice as to what to do with the $5000. Should I invest it? Pay off some of my student debt? Treat myself? I really have never received any amount of money this big and don't know where to begin! [link] [comments]  |
| Posted: 28 Mar 2018 02:01 PM PDT Long story short. Moved away from home due to questionable brother moving back home. Getting away from that awful environment I've been living on my own for the last year, have got my own car now and furnished my place nicely. Either way I'm not sure what to do. The dealerships sent me the papers saying my vehicle is ready and my phone number is on the buy form and have asked me to come into the dealership to buy the car. I checked credit karma and no credit checks have been run on my account but im sick of having my past life haunt me and want to change my name. Im unsure how to proceed. [link] [comments]  |
| Posted: 28 Mar 2018 06:25 PM PDT Like I said in the title, I'm 21 with no savings. I live with my parents and they pay for everything save for my college tuition, which I take out loans for. I am employed at a retail store making $11.50 an hour and I work about 30-35 hours a week. My parents bought my car, which is paid for, and they pay for the insurance. They pay my phone bill, as well. They also pay for food and clothing. I don't have health insurance either. I am terrible about saving money. I just spend, spend, spend. I love to buy things even though I know it's irresponsible. It's something I'm going to have to work on. I should also mention that I have credit card debt. Not counting my student loans, I am currently $2,744 in debt. Basically, I'm mooching off of my parents and I'd like to start my own life. My parents actually don't want me to move out so they're not being very helpful lol. I was hoping you good people on r/personalfinance could provide me with some insight. If you need anymore info, please let me know! [link] [comments]  |
| Are there any disincentives to close an existing bank account when switching to a new bank? Posted: 28 Mar 2018 05:59 PM PDT I will be switching to a new bank soon. Is there any reason I should keep my old bank account open? For instance, for credit cards it's advised to keep a card open even if you're not using it anymore since it helps establish your credit history. Are there any analogous considerations for keeping a bank account open once you stop actively using it? [link] [comments]  |
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