Personal Finance My GF got hosed on a car loan, what are her options? |
- My GF got hosed on a car loan, what are her options?
- Need almost $30K of dental work done, insurance won't cover. I'm drowning.
- Father passed away suddenly leaving my mother w/ nothing Please Help
- It feels like it is not possible to save enough
- My mom is working under my name and is receiving checks addressed in my name. What are the implications?
- Father passed away. Mom will receive $200,000 cash and she’s expected to receive his benefits ($1.7k/month).
- Apartments Refusing to Let Me Pay Up Front (because I don’t have “monthly income”)
- Starting a new job soon and I’m thinking about trying a High Deductible Health Plan with a HSA that the employer contributes to. Is this a good or bad plan?
- My dad had a stroke today.
- I’m 14 months away from being debt-free, what can I do part-time to make it shorter?
- Advice on video games
- A Slightly Different Quit and Travel Thread
- Great tutorial of an NFL player explaining to his teammates how compound interest works
- Help! Landlord returned rent and is now charging late fees that I can't afford with three days to pay or vacate
- Does it matter where to start an IRA?
- Debt collector sent letter in the mail for an unpaid medical bill last year. I was told last year I didn't have to pay it and now it's in collections. Need help on how to handle the next steps.
- Company underpays employees to balance books.
- Salary negotiation: Already offered 2x my current salary, hold 'em or fold 'em?
- My grandpa [89 North Carolina] gave my brother[29 Georgia] a cash gift of $80,000 and he doesn't know what to do. He has history of poor credit decision.
- My financial life has been destroyed by crime. Any advice?
- First Full-Time Job - What is a good starting salary in IT in the manufacturing industry?
- Teen looking for my first car
| My GF got hosed on a car loan, what are her options? Posted: 09 Aug 2018 05:59 AM PDT Last September my girlfriend bought a 2008 Nissan Sentra from a shady used car lot in Latonia, KY (Time Auto Sales, avoid this place like the plague). They absolutely took advantage of her lack of information about cars/financing at the time and hosed her on a car loan. I wish I would have known her at the time and I would have strongly advised her against doing business with these shady used car lots, let alone purchasing this car. The car was in decent condition but had 100,000 miles on it, they sold the car her for $10,148 (which is more than TWICE what the car is worth) and financed it at an APR of 19.5%, bringing the total to $12,821 with interest. She is to make 128 payments of $100 until February of 2020, this equates to nearly $400 a month which is nearly a 1/3 of her income. To state the obvious, she cannot afford this. I make decent money and I would struggle to afford this. I don't know anyone whose monthly payment is this outrageous for a car, and if it is they are driving a high-end luxury car. She has been paying on the car for nearly a year now and still owes around $7.5k. We have looked into refinancing the car with Navy Federal (she is active Army Reserves), but they will not give her a loan because her payoff amount is more than what the car is worth (they valued the car at about $4k in its current condition). The car has about 136k miles on it and is starting to rack up some maintenance costs. The muffler is rusting out (this was something that was not disclosed to her at the time of purchase) and she is going to need her front breaks done soon. I am afraid she is going to be stuck in an awful situation where her car isn't going to last much longer and she is going to be on the hook for the payoff amount of her loan with no car to show for. Besides refinancing, does she have any other options? I know there are some crafty and savvy redditors our there, I would love for your advice/take on this situation. Thanks in advance! [link] [comments]  |
| Need almost $30K of dental work done, insurance won't cover. I'm drowning. Posted: 09 Aug 2018 09:23 AM PDT TL/DR: Got top dentures when I was 19 (Now 24). It was an unnecessary treatment according to other medical advice. Received 4 separate professional opinions that concluded I need implants to preserve my bone and gum health, and will cost me between $20-30K. In great need of financial advice. Edit: Thanks for all the advice. As for the full time job comments and telling me to get one, I have had full time jobs that would offer cheaper insurance but only covered the bare minimum. And to "fix" my income, I'm in the process of different teachings and trades to make that possible so I can increase my income. It's not that easy to just tell someone to get a better job, and it's not like I haven't tried either, thanks for the comments I'm definitely working on that. And the issues I'm facing with insurance is that the procedures I need done (or supposedly from dental commenters) I've been told and have been on several phone calls with different insurance providers who call what I need cosmetic instead of medical. Now knowing that not having gas sedation is normal practice, I had no knowledge it wasn't before the procedure was done, given all what was done in that room at 19 was my first hand experience of extractions given my lack of treatment from growing up poor, and that's pretty terrifying. Going back I wish I had more guidance into knowing what to go through or expect, but now that I'm older I'm taking the best precautions that I can and gain some perspective. I do take care of myself, it's the lack of proper treatments and genetics that got in the way. I appreciate all of your advice and kindly thank all of you for your inputs. When I was 19 (Now 24), I needed dental work done and my family suggested I go to Affordable Dentures to get my teeth fixed. Some quick backstory, I grew up in a very low income household for the majority of my life (even taking care of myself, I still am making less than $20k a year) where my family could not afford medical care. Well, my parents could have applied for assistance but my father was "too proud" to ask for financial help even though there were 6 of us kids to take care of. (Thanks, guys.) For years I have not been able to seek proper medical treatments because of not having insurance. There was a dentistry that was across the street from my house that our dad would send us to because they took care of low income patients, but with how that office was run and how "treatments" were presented, this dentistry should have not been running as operational. I still get nightmares over how our dentist wouldn't wear gloves examining our mouths, nose hairs piercing through his nostrils, and consistent plaster fillings to temporarily fix cavities that needed attention, and how he would speak to me at times. Not once have I receive any proper preventative care from this dentist, and would place blame on me for not taking care of my mouth when he would never fix what I went in for, only temporary plaster. Most of my school pictures I would try not to smile because my teeth were so poorly managed, and have few pictures that actually show the proof. So, that being said, I needed some work done on my teeth. My family suggested going to Affordable Dentures because they believed the cheapest way to fix the problem was to have all the top teeth removed and replaced with dentures, as what they did for themselves. Granted my teeth were pretty solid in strength, I thought I would just need root canals, crowns, and fillings. Though it would have been more financially expensive, I would still have my actual teeth. I didn't know any better since I was unfamiliar with medical treatments passed excessive Google searching, so I decided to go the route my family suggested. When I went to the clinic, they were very eager to rid of my teeth, and whole experience was horrible. It didn't seem like they cared for the well being of my actual health and kept pushing their "upgrade and premium" looks and designs rather than talking and discussing what was actually needed. I was not under any gas and only dependent on the numbing solution they injected in my gums, and blood was still gushing out of my mouth as the nurse quickly tried to scurry me out of the office so they can close up shop. My ride (friend) was furious at the establishment as well as I for rushing me out with blood all over my sweater sleeves. It was one of the traumatic experiences I've had with any medical treatment. Flash forward, I went to different dentist to get cavity work done on a bottom tooth and when they asked about my history they have informed me that root canals and crowns could have fixed my problem, and was deeply saddened that this place removed my top teeth at such a young age without further medical guidance, which is now starting my journey on implants, which I have had 4 medical opinions stating it's the most beneficial if I don't want to lose bone and go into more surgeries. I am currently a patient at a School of Dentistry so I could receive more affordable work for low income patients. As we are discussing pricing, I would still have to pay a ballpark of $20K-$30K, and it needs to be done while I still have some good bone left without having to worry on further procedures to back it up. I am at a complete loss. I tried asking and compensating asking to be a part of a study to reduce costs since this is a medical school, and have yet to receive word. Since insurance claims this to be "cosmetic", it won't cover any of my dental costs even though this is far from that. With such a high amount, do I take out a personal loan? Apply for a credit card? (They do not take Care Credit) Can or should I start a GoFundMe? ...any dentists out here looking for a lab rat to poke at? I looked at going abroad for treatment but heard too many horror stories and am afraid it might not be ideal for what I need. I've spent the majority of my life with mouth pain, losing sleep over such, and would dream of a day where I could eat without having any issues. Any advice would be sufficient. Possibly would be cross posted for additional help. Thank you kindly. [link] [comments]  |
| Father passed away suddenly leaving my mother w/ nothing Please Help Posted: 09 Aug 2018 03:17 PM PDT My father passed on Monday, August 6th, from a pulmonary embolism. This was unexpected and my mom is disable. She was unable to collect disability due to my father's salary. Considering his passing, she has no income. Her home is a mother/daughter. The apartment is currently vacant. If she rents the apartment, would that affect her disability? Her primary care physician deemed her disabled as well as her Rheumatologist over 15 years ago. Will this rental affect the amount she is able to collect? She is planning on selling her home within the next 12 months and I am confused as to whether or not it will affect the SSI Disability in the long run. [link] [comments]  |
| It feels like it is not possible to save enough Posted: 09 Aug 2018 02:39 PM PDT Anyone else terrified of the seemingly insurmountable task of saving enough for retirement? I know we are lucky compared to many but it sometimes feels impossible that we can save enough. Our current situation - mid 40s in age - married, one child 10 years away from starting college - 30k in 529 plan - 470k in IRAs and 401k - 90k in non-taxed advantaged brokerage account Many retirement calculators say I need millions to retire and that college is going to costs 250k... I just don't think we can get to those numbers despite maxing two IRAs and one 401k a year. What do you do to calm yourself down and keep plugging away? [link] [comments]  |
| Posted: 09 Aug 2018 10:25 AM PDT Hi guys. Throwaway account. My mom has been working at a nail salon while getting paid through my information. She's done this before with another nail salon without me knowing. The boss there was under the impression that I was aware (I found out when I picked up some money there when my mom was out of the country). She currently hands me checks with my name on them every week, and makes me deposit them into a joint account we have (actually didn't want to open the account at first, but she cried when I said no). I don't really understand why she does this. She gives me dodgy answers if I ask. We're aren't exactly in the best financial position either, so I'm worried for her well being too. I'm not sure what the implications of this are. How worried should I be? Should I put it to a stop? Should I be worried about the joint bank account? Please advise. Thank you. [link] [comments]  |
| Posted: 09 Aug 2018 04:32 PM PDT As title says, my father passed away. cancer sucks. Mom currently has no debt except the home mortgage ($110,000) and her car ($11,000). After home and car is paid off she'll have around $80,000 cash. She plans to get back into working part time ($800/month). This puts her at around $2500/month. monthly expenses revolve around $1,200. This leaves her at around $1,300/month to do whatever. Going forward on this thread, let's say she pays off the house and car leaving her at $80,000 cash. Couple options: 1. My mom is looking to move to a smaller home. Our house needs major renovations (foundation and interior is mostly torn apart). Expect around $30,000 put down for renovations. This leaves her at $80,000-30,000 = $50,000. Let's say she decides to sell the house at ~$300,000 (zillow states homes in my neighborhood are worth this much). Now she has $300,000 in her pocket. Ideally a decent 1 or 2 BR in Dallas is around $200,000. After all housing expenses (she's exempt from property tax) I'd expect her to have around $80,000 in her savings given she purchases a $200,000 home. How should we go about minimizing renovation cost and selling and buying a new home? Option 2 Renovate the house ($80,000 - $30,000 renovation cost)What should she do with the $50,000? She has $14,000 in her Roth IRA which I've helped her with. She lives an extremely frugal life and when she stops workin and receives my father's SS her monthly income should jump to $2,000/month. Also, we expect to receive the life insurance money in a couple months so we are trying to plan in advance. Sorry for the long post but trying to figure out the best long term solution. [link] [comments]  |
| Apartments Refusing to Let Me Pay Up Front (because I don’t have “monthly income”) Posted: 09 Aug 2018 07:27 AM PDT Hey friends, longtime lurker who has been inspired by this sub so many times and has gotten tons of help reading past posts. Well...I've run into an issue I can't really seem to find any input on the internet about... So I am in the process of relocating to a new city to be with my partner, only about an hour and a half a way. I have been planning on this for awhile now and have some cash set aside so I can spend a good amount of time adjusting to the move, getting to the know city, as well as having quality time to spend with friends before I leave... thank you!!! [link] [comments]  |
| Posted: 09 Aug 2018 06:39 PM PDT I've never used this option for me and my family and I'm trying to figure out what makes the most sense. Any help or resources would be appreciated. [link] [comments]  |
| Posted: 09 Aug 2018 08:18 PM PDT My dad had a stroke out of nowhere today. I am still in shock and haven't fully processed it. But I need to know what happens from here. He was our main source of income. What the hell do we do know? I hope this is the correct sub, because I need a guide right now . [link] [comments]  |
| I’m 14 months away from being debt-free, what can I do part-time to make it shorter? Posted: 09 Aug 2018 11:54 AM PDT But that's a long time to pay the max amount I can monthly to get out of debt. I have a full-time job that's comfortable. I make decent money so I can pay a lot of money to my debts. So far I've crushed: - $6k in CC debt - $25k for 1 student loan The only expenses I have left are: - $15k rem. for another student loan - $20k rem. on a car loan I'm in a good spot, the weeks/months are comfortable with my budget. But I have a lot of downtime (single, no kids). Options I've considered: - work part time in retail in the evenings - Uber - find more freelance work (I'm a web developer and have freelanced from the beginning, not too passionate about it any more) - odd jobs on CL Another question is, what do I do after I save 6mos of expenses? [link] [comments]  |
| Posted: 09 Aug 2018 10:43 AM PDT Honestly I am somewhat ashamed to be making this post but I really need some advice. My wife and I are really pushing hard to save and budget. We still struggle a bit with food (We are not going hungry, what I meant is that we are spending a little bit too much still), but for the most part we are doing really really well. I am so excited to be diving headlong into money-wise decisions. But I'm hitting a speed bump. I am 22 years old, and when I was younger I spent every single penny I had on video games, micro transactions etc. Every dollar I made I spent. It's taken me 4 years now to slowly retrain my brain on how to handle money. But despite all my progress, I am still failing in the area of online entertainment purchases. Whether it's movies or games, my mind just seems to blank out and I spend the money without thinking. It has got to be the most irresponsible use of money out there. Because of the digital era I can't even get a return on anything I've bought. Something I am getting into the habit of doing is refunding the day after I buy something. But I don't want to do that, I want to be able to think harder before I buy. Right now I would say my spending problem has us bleeding out 100-150 a month on the high end to be safe. Believe it or not, but I used to spend obscene amounts more than this, it was an addiction. I know this is sad, almost burned my whole relationship with my parents because of it. Have wonderful relationship with all my family now When my head is in the right place, I think about the crazy amount of savings 100 a month could be. Would be a fantastic emergency fund. But how in the world do I re-wire my brain not to jump at the online shiny things? I feel like a 12 year old for Pete's sake. All help is much appreciated. TL;DR I want to save as much as I can but I struggle with online purchases. How do I retrain my brain to understand the value of even small amounts of money online. Edit:Fixed a misconception about me starving my wife and tried to make it more clear! Also thank you all so much for all your advice. It means a lot that people are willing to invest their time into a complete stranger like me. From what you have all given me, I have compiled it and created a game plan. I am going to run with it and see how it goes. I am very optimistic and excited to take financial responsibility one step higher. [link] [comments]  |
| A Slightly Different Quit and Travel Thread Posted: 09 Aug 2018 09:51 AM PDT Couple facts... 33 yo Engineer working in field for about 10 years now. No student loan debt. Excellent credit score. Roughly $28k in savings. Another $28k in a 401k. Only debt is $300/month car payment. Girlfriend 29 yo has work from home job. Can work remotely from anywhere in USA. Approximately $65k annual income. Has almost $40k in savings. Healthy 401k with well over that. Long-term relationship, and is very stable/ healthy, we both know we will eventually be married. Here's the idea... Basically thinking of downsizing to single income, as girlfriend wants to take advantage of her remote work position. Our lease will be ending, and based on our research we can find Airbnb for approximately same cost per month as current rent in different cities we would like to stay. May also stay some with Friends/ Family along way. Estimated trip 5-7 months. My concern is not so much that we couldn't afford it, as we budgeted it out. My concern is that savings (specifically mine as I feel it's lower side for my age/profession) will stay stagnant, and possibly decrease depending on emergencies. Also time gap in resume for re-entering job market. During trip I would look for some work from home positions myself, or other means of income, although I'm not expecting more than a couple hundred bucks a month. Also planned to work on professional courses online to keep fresh and add to my resume so it's not just "traveling" The other hard part is I have another job offer pending, but would need to start right away. No time to travel between jobs. This would be a $6k raise from current salary (which is already currently more than GFs), and they have better benefits. I'm very close to turning other job down, and traveling. I feel as before we get married and have kids, we could have this trip without having to piecemeal things here and there when pto allows. A road trip across America is also a dream of mine I've had for a couple years now, and I not sure when else the opportunity like this would present itself (until retired). I also feel like the risks are fairly well mitigated compared to stories of other people who quit and travel, but I may be fooling myself. There's a reason why I posted this on personal finance and not the travel subreddit. I know that this is obviously not the smartest financial strategy as time is my best investing tool at my age, but at the same time, I feel like it is doable? Give it to me straight. Does this sound like a huge mistake? Edit: I am not a software engineer. Every job search I run is filled with work from home opportunities for software engineers. My degree is in mechanical engineering, and my background is in management of manufacturing facilities, which is very much an in person role. [link] [comments]  |
| Great tutorial of an NFL player explaining to his teammates how compound interest works Posted: 09 Aug 2018 08:23 PM PDT https://youtu.be/BWz_PCPCIdE?t=18m30s Pretty funny video. Claiming 10% interest as a guarantee is a biiiittt generous and misleading, but the general idea is great to try getting across to some very rich football players. [link] [comments]  |
| Posted: 09 Aug 2018 08:15 PM PDT As stated above, I paid my rent on the 4th via an online rent pay service. Rent is due on the 1st but there is a five-day grace period. They withdrew the rent payment on the 7th, then returned it on the 8th for no apparent reason. Came home today to a notice on my door that my rent was late and am getting charged nearly $400 late and other miscellaneous fees and I have three days to pay it in person or vacate the apartment and be charged triple what I owe. I can't afford the extra $400 and payday isn't until next Thursday, any advice? Edit: I forgot to mention that I called the landlord on the 6th to check that it went through and they told me that it was paid even though the money hadn't been withdrawn yet. [link] [comments]  |
| Does it matter where to start an IRA? Posted: 09 Aug 2018 06:10 PM PDT I have a work sponsored 401k with fidelity- so if all other things are equal it would be easiest to just open an IRA with them to use the same app. That said- I don't usually hear of fidelity recommended quite as often as others. Mid 30s, have a decent 401k fund for myself- but really need to start kicking in 5k/year each to an IRA for wife and I for lower fees, probably. I assume there is no value in starting an IRA through a bank or financial advisor (unless fiduciary)- but that is an option too, if recommended. [link] [comments]  |
| Posted: 09 Aug 2018 07:16 PM PDT Thanks for taking the time to help. Long time lurker, first time poster (many more to come) So last year I had a little scare and went for an ultrasound (all was well, btw!) because my doctor recommended that I did just for peace of mind. At the hospital, I provided my insurance and paid the remaining amount of money while I was there which was a little over $100. This was my first hospital visit outside of any routine doctor visits and have heard of the issues people have, so I clarified and asked: "Does this cover all expenses, so it's one and done after today?" - Just to avoid this bullshit. I received only what I was there for, no additional tests or anything. The next day I receive a voice mail from the hospital about a recent visit and I still owed money, what do you know! I called them back on a lunch break to pay the remaining $40. This isn't breaking my bank, but I'm a curious guy and questioned what happened between my visit. I told them I had asked if my payment covered everything and wanted to know what my additional charge was for. On the call, she told me nevermind, you don't owe anything. My mistake So now I have a stupid $40 bill that was sent to a debt collector which I know is on my credit report. To all you savvy financial people, how would you handle this situation to ensure this goes away quietly and doesn't stay on your credit report? To all the super savvy people, how would you go about... benefiting from this? (curious) TL;DR: Went to hospital on doctors recommendation. Paid the bill. Received a call next day asking to pay an additional $40. I called to pay, but questioned why the additional fee came up. Was told nevermind, I don't need to pay. Now it's in collections. What do? [link] [comments]  |
| Company underpays employees to balance books. Posted: 09 Aug 2018 08:25 PM PDT I work for a national company and there is sufficient evidence to suggest that the company intentionally underpays employees to balance their books and then forces them to file for missing hours and await a check 2 weeks later. Unpaid hours rotate through work sites and never effect the same employee twice in a row and the difference in hours is anywhere from 1/2 to 1/4 missing time, but always a different employee each time. Other employees even find that sometimes their pay is reduced to the lowest pay tier and only fixed after, again, filing a complaint and waiting two weeks for a paycheck. This time they hit me with a back pay 2 weeks later on my paycheck AND adjusted my wages down to the lowest wage. I ended up getting the same paycheck I would have gotten without the back pay. Does anyone have advice on these matters? Does anyone know the proper procedures to enforce reliable pay and hours from their employers? [link] [comments]  |
| Salary negotiation: Already offered 2x my current salary, hold 'em or fold 'em? Posted: 09 Aug 2018 08:22 PM PDT I got a job offer from a government agency whose offer already more than doubled my current salary with really solid benefits to boot. I got the job through a former employee who referred me and he told me to negotiate for a higher salary between 5 to 10 percent. I asked for exactly that, but the HR person came back to me saying the agency cannot do so. She told me because my position is a union position with salary tiers and that my demand was beyond my positional tier. After talking to the former employee again, he explained he told me to negotiate because he had a higher salary to start, but also acknowledged that he has a few years more experience in the field when he started than I do. So perhaps the former employee may not have been the most reliable expert on the salary structure. I scheduled to talk with the HR lady tomorrow and I'm conflicted between whether to just accept the current offer or explore other wiggle rooms for negotiation, like whatever the upper limit salary for my positional tier may be or for more vacation time or something. But because the offered salary is already more than twice my current one, I don't feel I have much leverage and confidence, and I feel like I should just accept the offer sooner than later. I don't know if a few thousand dollars more is worth the small but possible risk of pissing off HR and getting the offer rescinded. What is the appropriate action here? [link] [comments]  |
| Posted: 09 Aug 2018 03:38 PM PDT The gift is for him to invest for retirement and put towards helping take care of me (Im disabled). What does he need to do as for paying taxes? I've heard gift taxes can mean paying over 40% of the sum which is crazy but he will of course do it if he legally has to. Also, he would like to know some safe options for investment. [link] [comments]  |
| My financial life has been destroyed by crime. Any advice? Posted: 09 Aug 2018 09:52 AM PDT So, I spent over two years raising my credit from 520 to about 690. I was assaulted at work and was not offered a comparable position anywhere near me and ultimately left. Was told to file for disability and was denied disability because the incident causing the disability happened at work. Workplace said they would not provide worker's comp. You get the picture. Worked a side job, started being stalked. Used all my other resources to live. I started to get ready to leave to move out of state and have been waiting over three weeks for my cash out on my retirement fund (bad news). It was supposed to come in a week. I have maxxed both 1k credit cards I have and I have 1k in a car work that I put into a car getting ready to travel that ultimately broke down. Now I have a car loan. And 12 hard inquiries on my credit from them trying to find a car loan. I used my emergency fund. Thank God I have a job to go to, but I am so screwed. I literally have no money left. Do you guys know of any options or have any suggestions that might be beneficial to me? I am literally two inches away from taking out a pay day loan but I am aware of how stupid of an idea that is. Maybe you might have some advice on how to budget the 2k from my retirement fund? Some kind of odd way to borrow money that I don't know of? Even if its a budgeting app or a worksheet, I will use anything anyone recommends. [link] [comments]  |
| First Full-Time Job - What is a good starting salary in IT in the manufacturing industry? Posted: 09 Aug 2018 07:40 PM PDT Hi Reddit, I hope you are all having a great Friday Eve. I recently finished a summer internship in a Chicago suburb as an IT intern in the manufacturing industry and was fortunate enough to receive an full-time offer for an IT Rotational position. The position has an annual salary for "$55-56K" with paydays every 2 weeks. Is this number pretty standard for an entry level IT position in the manufacturing industry, is this something I can negotiate? I am currently a college student entering my senior year at a private Chicago University. Please help!! Thanks so much! [link] [comments]  |
| Posted: 09 Aug 2018 07:30 PM PDT Im 18 year old and I am looking for my first car with the help of my parents. I want a car that is maybe 11k or 12k max and I am interested in sedans, also my parents want a car that is certified. I could use some suggestions such as cars that are very reliable. Thank y'all [link] [comments]  |
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