Personal Finance Weekend Discussion and Victory Thread for the week of March 09, 2018 |
- Weekend Discussion and Victory Thread for the week of March 09, 2018
- Can't believe i was so stupid, got scammed out of 1000$
- As a 21 year old, what should I do with money sitting around
- Just got an extra $71 in tips on the week just for checking my hours!
- How I went from 100k to 30k in student loans over a five and a half year period. Why I am done and maybe someone can learn from my mis steps.
- Obsessed Paying Off Debt And Not Enjoying Life
- My GF Mom has commited food stamp fraud and my GF is "debt liability"
- Navient has changed the language on their over-payment billing options. I may be reading into it too much, but it seems intentionally vague and borderline deceptive. Pay close attention to how your money is spent!
- How to invest with little money?
- retiring at 65 with $600K
- Don’t judge just need advice. What’s the best way to make money as a 14 year old?
- Helping Grandma Retire
- Got pickpocketed €400 in Amsterdam, travel insurance got me my money back.
- Incorrectly classified as 1099?
- 25 y/o anxious about purchasing a home
- I have an opportunity for the internship of my dreams, but I am not sure of it because of the low pay.
- >$10,000 CC debt at 22
- Does anyone have any consistently successful techniques for dealing with the ‘salary expectation’ question at job interviews?
- Is buying a house ever going to be a reality?
- Tripled income, terrified of becoming wasteful and frivolous.
- If you just earned a Bachelors/Masters Degree? How do you discuss it with your Current employer?
- Earned more than $400 but less than $600 in freelance. How do I report earnings?
- Does overpaying your CC bill raise your credit?
- Trying to be more financial literate. Please advise on good resources
- Should I go to school?
| Weekend Discussion and Victory Thread for the week of March 09, 2018 Posted: 09 Mar 2018 01:06 PM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance discussions, questions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! For past threads, please search the Weekly Archive. [link] [comments]  |
| Can't believe i was so stupid, got scammed out of 1000$ Posted: 09 Mar 2018 04:41 AM PST Just made a account to write this, i haven't been feeling well these past few days, i'm trying to be a bit vague about what happened because i haven't told anyone else yet (aside from the cops). I'm usually doing all my online payments throw Paypal, i don't know what the fuck was wrong with me this time and pushed me to do it through banking transfer (at my bank) . How it happened : a few weeks ago i make a online post on a website about looking for a place to rent , a few days after i get a phone message from a person saying that he has a place for a xxx$ price (the price was kinda low and was the first signal that i ignored, though i've seen similar priced apartments online but very few) and gives me a mail address for more info about the apartment . I mail him that and by the evening he sends me the info and a few photos, all looks great and i'm excited, he also says that he only rents through AirBnB, and i'm like sure (i've never used it before , so i go and make a account). Then he sends me the "airbnb" link using bitly , i've seen people using it online to shorten links before and don't think much about it, i see airbnb in the link the page looks legit, especially since i've never used airbnb before. I go to the payment options and since i didn't have enough on my credit card i use the banking transfer option (it was to a different country: Ireland) , get 4 pages everything looks alright (have to stress again that i never used airbnb before) , didn't even notice that it was ARNB ATS instead of AIR BNB above Iban, and next day i make the payment, the i send a scanned copy of the payment to the fake airbnb mail address, after getting the "confirmation" the owner of the place says that he will come friday with the keys. Thursday i get a mail with the time when we should meet, then friday comes and i get a mail that he can't come and if i can wait until monday if not i can ask for my money back (his excuse was another Red flag that i ignored and chose to believe). I reply that i can wait until monday, monday comes and he tells me that he can't come and i should ask for a refund. I mail again to the fake air bnb support account and they say i'll get my money back in 24-48 h, as the days pass and i'm not seeing my money back i'm starting to do research in to scams regarding airbnb, then i go to my bank and they tell me they can't do anything and if the money are not back soon after the 48h i should go to the police. By this point i should be drowning in red flags, i downloaded the airbnb app and there were no payments, i logged in the account and there were no payments made, but i still chose to believe that everything will be fine. Even after going to the police and being told that i got fucked, i still believed until today when i saw the fake airbnb page disappeared. The police told me that they are gonna try, but since the payment was done to a bank in another country , their hands are tied and won't be able to do much, i'm 99.9% sure that i won't get my money back. The past few days have been really awful : couldn't sleep properly , couldn't eat ... i just don't know how to deal with this anymore, i haven't told anyone yet and i'm to afraid to do so, i just feel everything is gonna break in to pieces when it gets out... tl;dr: got scammed with a fake airbnb page, made a banking transfer to another country, went to the police and they told me i'm fucked. [link] [comments]  |
| As a 21 year old, what should I do with money sitting around Posted: 09 Mar 2018 08:17 AM PST I am 21, no debt, and after rent, car, and all other bills, I am left with an extra 500$ish a month. I've invested some money into crypto, as well as the stock market. So far my returns have been very Good, however I want to look at other options to diversify my income. So what options would you recommend that I look into? I have an emergency fund and will keep that, I am just looking to branch out as much as I can to see what I like best, and focus more on that. Edit: thanks for all of the advice, hopefully this post helps out more than just myself [link] [comments]  |
| Just got an extra $71 in tips on the week just for checking my hours! Posted: 09 Mar 2018 03:48 PM PST I'm sure this sub gets plenty stories like this, but it's the first time something like this has happened to me in the work place so I thought I would share my experience. It's nothing crazy so I'm gonna try to keep it as short as possible. At my work we share a tip pool weekly & divvy it amongst the employees based on how many hours worked within that 7 day period. This week, one of my coworkers asked if I could cover his shift for him. Me, starting my journey towards becoming more financially stable, agreed to cover his shift. So, in this 7-day period I worked one more day than normally. Might I also point out, it is written how much tips were in a hourly wage ($T/hr this week), so all of the math to how the amount was calculated is already their. When I received my tips, it seemed as if I got approximately the amount I would get if I worked my normal hours, but on the paper it showed the amount of hours I worked right there. I was confused because our boss is very organized and very good at keeping track of our hours. I went back to check the time sheet for the amount of hours I worked, thinking maybe there must've been a mistake and it said I worked 8 hours more than what the other sheet had said. I immediately went to my boss and asked him if he knew that I covered one of our coworkers shifts during the weekend and he replied, "Yes I did, I put all of the hours in." Then, I was even more confused. I asked if he could kindly just double check for me, so he did. When he double checked he saw that working that extra day had put me into OT, so when putting in everyone's hours for the tip period, he had accidentally overlooked it as it had been in another column. He then apologized for the mistake, calculated the amount in which I missed out on and gave me the remainder of what I was owed. I wanted to share my experience as a friendly reminder to make sure you're getting paid for all of the hours you are working! I hear lots of stories of people finding out that they're getting shorted on hours. Whether that be on accident, like in my case or on purpose, like so many other cases are, so make sure to check your hours to ensure you're not the one getting shorted. I hope that this can help a few people out. TL;DR Get weekly tips based on hours worked. Covered a shift for a coworker and those hours went unaccounted for. Got compensated for those hours after politely asking boss to double check the hours worked. Thanks for reading and have a great day everyone! [link] [comments]  |
| Posted: 09 Mar 2018 07:55 AM PST I'll try to lay this out accurately and concisely: TL/DR: made some not smart financial moves, had a huge amount of student loans, busted my ass to make extra money, tired of doing it. Over a 9 year period from 2001-2010 I went to college three times and ended up with three degrees. First degree I didn't ever use. Second degree I used for a couple years. Third degree is my current occupation. In 2007 my wife and I married and bought a house. Still not sure how we got the loan with zero down and our awful debt to income ratio. I had about 70000 in student debt at the time just paying minimum payments. From 2007 until 2012 I went back to school, we had three kids, and my debt went to the 100,000 mark. This is when panic set in. We were both 30 years old. We weren't getting anywhere. My wife was working part time, retirement accounts were zero, kids were expensive so something had to change. Thankfully I had been smart enough to get most of my loans to sub 4% interest but there was one at 6% with 30000 to be owed. It was all so suffocating. I started working extra. My wife went full time and we started at the loans. Every extra dollar I made went to the loans and continues to. Between 2015-2017 my wife battled breast cancer. She was barely working but I kept up with my extra job to get at the loans. She's fine now but tack on some medical bills and crazy amounts of stress. Fast forward to now. I'm burnt out. I'm wrecked with anxiety about money and trying to balance extreme financial responsibility with a sense of wanting to be more free. Not crazy, max out credit cards free just to live a little more free. I have worked a combination of 4 jobs (1 main and 3 per diem jobs) to get these loans paid down. We have put everything on hold. We have been on one trip in the last 10 years. Our house is at the point where it need major work because we keep duct taping stuff together essentially. Most of every extra dollar that has come through has been combed over to see where it should go. Now that my wife beat cancer she wants to live a little. I can't blame her. So we have reconsidered getting all the way to 0. We are done. By the end of this year I will have one loan with about 18k and 3.5% and I have another loan in the PSLF program that will be forgiven in 2020 that is $180 a month. That's it. I have a paid off car so I'm going to consider it a car payment. We are going to re adjust our budget so we have an actual entertainment section. Some other info: We have averaged anywhere from 75k- 140k in combined annual salary depending on the year. We have leased vehicles in the past but now have one paid off car and a used car that has a note on it. We have allowed ourselves evenings out at times but we are ready for more. We could have probablly paid more off sooner but we slipped up after my wife's cancer with some celebratory dinners and purchases. Should have obviously waited on the house and kids but what can you do? Ask me any questions if you want or if I left someone out. Thanks for reading. [link] [comments]  |
| Obsessed Paying Off Debt And Not Enjoying Life Posted: 09 Mar 2018 08:50 AM PST I know this may seem weird, but I'm battling with a serious obsession over money and paying off debt. I literally will stare at my spreadsheet 5 times a day, seeing where I can cut corners. The downside to this is I put myself into a tailspin as I can't fathom paying off my debt. Any coping mechanisms to enjoy life and not focus every 10 mins on what I can't have, because I'm paying off my debt? [link] [comments]  |
| My GF Mom has commited food stamp fraud and my GF is "debt liability" Posted: 09 Mar 2018 04:13 PM PST So in 2015 my girlfiend moved in with me, and moved from VA to CA. Her mom in 2015 renewed her food stamps and she put that my GF was still living with her. Fast forward to today my girlfriend filled a tax return and the IRS took her entire tax return to payback the overdrawn food stamps. The Dep of Treasury sent her a letter explaining since she is over 18 she is concidered "debt liablity" and therefore responsible because her mom said she was living with her at the time. She has provided proof that she was living with me in CA(W-2, bank statements, tuition, etc) the IRS is still holding her money and she will be held responsible until the full amount is paid. Also her mother stopped paying the monthly fee that her and social service agreed to. So what can she do to clear her name and get her tax return back? Thank you [link] [comments]  |
| Posted: 09 Mar 2018 02:40 PM PST I logged in to my Navient account to make a payment today and noticed they have made a few changes to the language around the handling over-payment. Unfortunately I don't have a screen shot of exactly what they used to say, but if I remember correctly the two options were something along the lines of "Advance my next payment date" or "Make next payment as scheduled." Like many of the folks here, I am in Destroy All Debt mode, so of course I want to keep making normal payments in addition to my over-payments. Now it's little more confusing.
I had to read the descriptions several times over before I settled for the second option, as it most closely resembles what I am used to choosing. The language for the first option doesn't clearly explain how much the next payment would be reduced by, or if it would actually be advanced to some time in the far future. Likewise, the description would be better written as "Reducing the amount of your next payment(s) will increase your total cost of borrowing" because that's the action it is describing. This just seemed as shady as I expect Navient to be - so here's the reminder to be diligent to your finances, and take the time to read the fine print! [link] [comments]  |
| How to invest with little money? Posted: 09 Mar 2018 07:36 PM PST Hi everyone! I'm 20f and I want to start investing but I'm not sure where to start. I don't have very much to invest right now but I assume there must be ways to start anyhow [link] [comments]  |
| Posted: 09 Mar 2018 11:08 AM PST can this be stretched by retiring in the US or another country? If you have grandparents that were able to retire at that age with around that amount - how did they survive with medicare etc.. [link] [comments]  |
| Don’t judge just need advice. What’s the best way to make money as a 14 year old? Posted: 09 Mar 2018 07:19 PM PST I have tried doing neighborhood chores, household chores etc. All have not worked for me [link] [comments]  |
| Posted: 09 Mar 2018 06:52 PM PST I like to think I'm at least okay at personal finance so I have an idea of how to help, but wanted to get everyone's opinion. I apologize in advance if the formatting on this doesn't come out great or if I skip over some things. My grandma is 65 and unable to retire at the moment because she has no savings at all. She's a nurse, but she's getting too old for most jobs and so she's having a hard time finding steady income. Her current situation is as follows: Income - Her job (unknown at the moment, most likely 40k/year+), and also 800/month from renting out her barns/land. Her income from her job right now is about 3400/month take home, but she's transitioning and won't know what she's going to make (hence the 40k/year+). She mentioned she also has some sort of pension plan that will be coming, but she doesn't know how much it is. She's guessing if she did the lump sum it would be about $55k. She also said she thinks she'll get about $2k/month from social security once she can get it. Expenses - About 2750 with everything included. I've already got her getting on a cheaper phone plan, ditching cable, and a few other minor things. Debts - $22,000 in credit card debt, $15,000 car loan, and $120,000 mortgage @ ~5%. Savings - $24,000 that she took out of her IRA (She made this choice prior. It may or may not have been correct, but it's done and over with), and $15,000 from her tax return (lots of expense write-offs on her farm). Overall, about $39,000. She'd like to stay at her farm as long as possible if she can, but I know that's probably not realistic. I first told her to pay off all the credit cards, keep about $10k in savings, then put everything else toward her car for now until we know what she's doing long-term. My original long-term/retirement plan for her, which she doesn't like, is to first sell the property. She can probably get $500k for it, possibly up to $600k if she's lucky. I then told her to go buy a cheap condo/house in cash ($50k-100k) and live off the rest. I know it's definitely do-able for her, but I want her to keep the property if she can, I just don't think it's feasible. Please let me know any information you can provide. I'll answer as many questions as I am able to. Thanks!!! [link] [comments]  |
| Got pickpocketed €400 in Amsterdam, travel insurance got me my money back. Posted: 09 Mar 2018 01:04 PM PST I learnt this lesson of the importance of having travel insurance when I was 21. At that time I was going on a uni trip to Amsterdam. Was completely oblivious about insurance whatsoever and I was also dumb to carry lots of cash with me as I was young and that was my first few times travelling abroad. In Amsterdam, I was walking through the plaza where there's a lot of people. My wallet is at my back pocket (another dumb thing to do) and suddenly I felt that somebody has touched my butt. To my surprise, my wallet is gone - along with all of my money (€400 and it was big amount for me as a uni student at that time). I also lost my IDs, bank cards etc. Lucky that I kept my passport separately. I was devastated, and went to lodge a police report straightaway. Obviously there's nothing they can do about it. A week went by and I was back at uni and passed through a notice board with a flyer of another uni trip being held for another course. On the flyer it says "insurance is covered by uni" so I thought hmm maybe I should check what is being covered and whether my previous trip was covered as well. Turned out it was and even better, "lost and stolen" money is covered up to £500 as well! (I was studying at a UK university). So I filled out the claim form, it was asking me for all the documents including a police report made within 24 hours of the incident (which I did) and within the next month I got a cheque of £ equivalent of the € I lost. I even got extra money as the £ appreciated over € over the time I was waiting for the claim. From then on, every time I go travelling I'll make sure I have got travel insurance. It only cost less than £10 normally and covers lots of things including medical fee, lost luggage, flight cancellation etc. I am lucky to learn my lesson about insurance early on and without any real monetary cost (other than the emotional stress I got when I got pickpocketed of course). I know a friend's parent who got sick while traveling in the United States and had to go on an operation only to be slapped with thousands of dollar medical bills and now crowdfunding money to pay the bills. I hope my story would make too wanna take travel insurance too! I hope you don't need to use it but you'll be thankful when you actually needed it. Cheers! Tldr : Travel insurance is a good thing to have. [link] [comments]  |
| Incorrectly classified as 1099? Posted: 09 Mar 2018 07:43 PM PST Hey everyone, last year I was hired by a company but they've been very disorganized from the beginning. They never had me fill out any preemployment paperwork, have give me a schedule aside from asking me last minute if I'm available. They checks they've given me haven't specified any deductions but I didn't want to raise any red flags because I wanted to keep it on my resume. Despite how the local branch is run it's a well respected organization. That being said, I asked them for tax paperwork a week ago and they have me a 1099. It's my understanding that since I have to conform to their hours, use their tools and have a boss-employee relationship that I should be W-2'd. I know that as a 1099 that I'd be responsible for having my own workers compensation, unemployment and pay any additional ~7.8% in payroll taxes. Can anyone confirm if this is true. If so, what's the best way to ask them to re-classify me without threatening them. It's my understanding that I can just file as normal and use an additional form to say I was misclassified but that they'd get in trouble and have to pay additional penalities. Also that I would have to pay their portion of the payroll taxes only to be have them refunded to me later. Thanks for any help on this matter. [link] [comments]  |
| 25 y/o anxious about purchasing a home Posted: 09 Mar 2018 06:28 PM PST Hey PF! I've been searching for a house for over a year now, and my current rental lease is coming to an end in May. I have rented ridiculously cheap for the past 3 years. My portion of rent started at $350/mo, and dropped to $287/mo when we moved a 4th person in last year. My rent+utils have never exceeded $500/mo, even during cold winters. Thanks to this cheap living situation, I am completely debt-free. My student loans are all paid off. I paid cash for my car, although it tends to eat $1000-1500 a year in upkeep as it's a higher mileage 15 year old Audi. I gross about $40k a year with my day job, and an extra $2k a year with a seasonal job I use some of my vacation time for. I have a little more than $15k saved as I've been planning on buying a house for the past few years, and can generally save $500/mo currently without curbing my spending at all. My credit score is 775+. I began looking for fixer uppers a while ago, and after viewing a dozen or so, and making offers on a few, I've realized they are generally overpriced in my area and with the current sellers market, people aren't budging much on price. I've also realized for something that isn't entirely outdated, I'm going to have to spend more than the $100k I was aiming for (+/- $10k). I'm now looking in the $125-150k range. Property taxes in my area for this price range are anywhere from $1500-3k/year. I'm viewing a house tomorrow listed at the top of that price range ($150k) with the highest property taxes in my general area ($3k/yr). I qualify for very little money down, so PMI will be tacked onto the mortgage. The house is recently updated and I would want/need to change very little inside, beyond finishing the basement in the next few years. With some quick math, the mortgage+taxes+insurance+pmi appears to be about 37% of my gross income if I paid full price which I do not intend on paying. I do not intend on this being a 'forever home', and personally have no qualms with selling after two years if the market hasn't tanked. I have a girlfriend who intends on moving in with me over the summer and contributing financially, but I am not relying on that whatsoever and am viewing this all as a single income situation to be safe. Am I justified in feeling anxious about paying this much to own a home? I feel like while my rental situation for the past 3 years was incredibly good for me financially, it also set me up to fear paying more. Any input/commentary will be appreciated and taken into consideration. Thanks! [link] [comments]  |
| Posted: 09 Mar 2018 06:45 AM PST I was recently selected for an Interview at my favorite Major League Baseball team doing what I love. I am currently working 3 jobs, 1 full time and 2 other as an independent contractor and going to school part time. I have one more year before I graduate. I current earn 13 an hr at a school but I don't receive my full check since I get paid in the summers and the internship is $8 an hr but I can just image the amount of hands on experience I would gain. I'm in a dilemma because I do not want to struggle to pay bills [link] [comments]  |
| Posted: 09 Mar 2018 02:24 PM PST Hi everyone, throwaway account here. I have over $10,000 in credit card debt and the interest is killing me. I am currently in my last semester of college and also have $32,000 in student loans that I will have to pay off once I am done with school in May. I do not have a job offer set up for post graduation. I currently live with my parents rent-free and make ~$800 month tutoring high school kids math (I expect tutoring to end in the beginning of June 2018). I applied for the Chase Slate to try and get a balance transfer for all of my CC debt (listed below). I was approved for the card about 9 days ago, but only got a $500 credit limit so my balance transfers were denied. I called in yesterday and asked if I could get my credit line increased (essentially a double pull on my credit), but it was rejected. I put in the transfer request for $475 from my highest interest CC (BoA) yesterday. I'm really not sure at this point what I should do to reduce the interest I pay every month. I guess I could apply for more cards and try and transfer as much balance as possible. On the other hand, I'm not sure if this is a good idea since my credit has already been hit twice recently. If you guys have any suggestions or additional questions, please let me know in the comments section and I'll be happy to check them out. I understand that balance transfers are temporary relief and that the spending habits are the reason I'm in this situation in the first place. At this point, even though I'm trying my best to pay off my debt and minimize my spending, the interest is making it extremely difficult for me to put a dent into my debt. Thank you for checking out my post. PayPal credit: $7213.85 balance @ 20% APR Bank of America credit card: $3,691.88 @ 21.24% APR Credit score via BoA: 687 on 2/19 Credit score via Chase: 702 at time of card approval (2/28), showing 692 currently on Chase website. [link] [comments]  |
| Posted: 09 Mar 2018 08:14 AM PST Sometimes, saying 'what's the assigned range for his role' starts up a circular discussion with the interviewer, that could nowhere. Are there any other techniques I could use for my job interview? [link] [comments]  |
| Is buying a house ever going to be a reality? Posted: 09 Mar 2018 06:59 PM PST Wondering if my partner and I will ever be able to buy a house. He's in school for a BSW, working part-time ~ 24,000/yr, while he's in school. I'm a HS teacher ~ 42,000/yr (az). I'm working to increase salary through education and PD. I've got 60,000 in student loans (at 6%); he has about 4,000 (similar interest). No other debt. We try to live pretty minimally. How much do we need to have in the bank to make a down payment, percentage wise? My credit is strong, his is moderate. I've had professors talk about financing their houses to pay off loans - is that even still a thing? Is buying a home still a wise investment in today's market? I know I've got a lot of questions but I see people my age (29) all around me buying houses and it's hard to wrap my head around how they've made that happen when I still question if I can afford guacamole. [link] [comments]  |
| Tripled income, terrified of becoming wasteful and frivolous. Posted: 09 Mar 2018 08:53 AM PST A month ago I transitioned from a job working freelance making 20k a year to a full time job making 60k. While freelance most gigs paid out 30 days after invoice submission now my new job pays every Friday like clock work. I just put $1000 into savings (previous balance was $29) and I feel strange about it because I want to put that money towards paying off one of several larger debts. Status: Savings @ $1029 Credit card at 5000 18% Car loan at 11000 5% Personal loan at 9400 15% (used for moving expenses and consolidation) With this job I have more than enough to cover rent + bills while also having plenty of extra income. My plan is to aggressively pay everything down starting with the card then loan then payoff the car. I'm terrified of falling into the mindset of "I make 3x my original income so I can afford to do x... y... z..." Has anyone else ever gone through this? Edit 1: It's clear I definitely need to create a budget and stick to it. I'm in my early 30s and its definitely time to start thinking about an emergency funds and retirement savings. My fiancee and I aren't planning on having kids, just pets so that won't be a future cost. I've never used percentages in my budgets before, because my annual income was so low. It was pretty depressing to think about. I have heard a lot about a "fun budget" for the sake of personal morale, I'll definitely work that into my budget. I'll keep tracking this, but thank you all for your suggestions! It's good to know other people feel this way and have a hard time adjusting to sudden income surges. I definitely don't want to fall into the trap of "Spend it while you have it" so I'll create a budget and stick to it! [link] [comments]  |
| If you just earned a Bachelors/Masters Degree? How do you discuss it with your Current employer? Posted: 09 Mar 2018 04:34 PM PST Recently I've completed a Masters Degree in my profession. My employer approved it and helped pay tuition for it. Now, after years of hard work, I simply see my Transcripts siting there idly on my dresser. At this point, should I be discussing it with my manager about any compensation bump for adding value to them by educating myself further? Or Should I expect nothing and begin searching for a new position elsewhere? It just seems like they'd want to retain the value they put into my position, instead of assisting me to pay for the degree and then I split? What do you think? [link] [comments]  |
| Earned more than $400 but less than $600 in freelance. How do I report earnings? Posted: 09 Mar 2018 04:24 PM PST Businesses only have to furnish a 1099-MISC if a freelancer earns $600+, but freelancers have to pay SE tax if they earn $400+. I'm in the middle. Could the kind community of r/personalfinance help me figure out how I report this jazz to Uncle Sam? Does it go in the 1040, a self-made 1099, or do I go some other route? [link] [comments]  |
| Does overpaying your CC bill raise your credit? Posted: 09 Mar 2018 08:08 PM PST For example, let's say you want to make a $1000 purchase but your credit limit is only $500 and your balance is already $250. Would it work to pay $750 on that $250 balance to get your balance to -$500 and then make a $1000 purchase? If that doesn't work, what if your balance was already paid in full but you returned a previous purchase for $500, and now your balance is at -$500? Are you good to make a $1000 purchase with a $500 limit? Edit: title meant to say credit limit* not credit. [link] [comments]  |
| Trying to be more financial literate. Please advise on good resources Posted: 09 Mar 2018 08:08 PM PST As the title suggests, I want to dedicate some time to learn as much as I can about finance. The stock market, mutual funds and bonds, portfolio balance, 401k, IRA, HSA, Roth vs. Traditional... all important concepts. Also, how banking works - mortgages, savings accounts, checking accounts, credit. And info on taxes, deductions, brackets, etc. So, please recommend some good reads. I'm looking for books, articles, websites, etc. I'm not interested in going back to school for take courses for this. Thank you. [link] [comments]  |
| Posted: 09 Mar 2018 07:55 PM PST I am 19 and going to a community college on FAFSA. I just recently got a job as a barista at Starbucks making $12/hr and have no bills save a cell phone bill. I'm sitting on $3000 atm and was considering using the option Starbucks provides of going to school, but I honestly don't plan on staying at Starbucks, and school seems like a huge waste of time to me. I am a very fast learner and always get straight A's (whenever I find the activity worth my time). Perhaps a testament to this, I became one of the strongest baristas at my store in a month and was nominated for the district-wide barista championships this month. While still knowing I have mountains to learn about everything, I know that if I put my mind to something, I can get good at it fast. I live in the silicon valley. While I have no car at the moment, many offices nearby do business in something I have a great interest in: computers. I have built several computers for myself and others, I love working on them and using them, I love the idea of graphics design, 3D model design and architectural design. I find almost no merit in going to school for 4+ years being taught things I can learn without it, and wasting time that I could use making money, or starting my life. I do not want to keep financially supporting me on the shoulders of my already very poor parents for much longer— I need to be able to support myself and others as soon as possible. Is school really worth it? What could I be doing with my money, aside from saving for a car? [link] [comments]  |
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