Personal Finance My girlfriend has no credit. When signing up for a Capital One credit card, they sent her an email needing extra verification. Is this legit? |
- My girlfriend has no credit. When signing up for a Capital One credit card, they sent her an email needing extra verification. Is this legit?
- What can we do as a society to improve financial literacy amongst young adults?
- [Texas] I am an Amazon worker and I believe the raises may take me out of the eligibility window for Medicaid. Will dumping the extra into a 401k put me back in?
- Recently, I have been told to come in and work a bit earlier and the assistant manager forgets to be to work on time. For the time I wait outside and he doesn’t show up, so I get paid?
- 16k loan for IT security boot camp. Should I make the leap?
- How do the “credit repair” companies work?
- Pay off mortgage?
- In debt and not sure what to do.
- When to Roth or not to Roth
- I just found out that my wife is pregnant, and we have little to no savings. Advice?
- Glamour Magazine's "The Cost of Being Me" series
- Starting off in life with 6k and absolutely lost
- Whole life insurance created by parents -- $600 annual premium worth it?
- My new employer wants to pay me with a pay card instead of live checks, but there's the card fee of $2.50 on top of any atm fees.
- Student Loan question
- Question on putting more in HSA if I also have to lower 401k (55+)
- Told I can’t move in after paying deposit, didn’t sign a lease. What can I do incase they do not refund my deposit?
- Needing encouragement- full time student working 60 hrs week, exhausted and broke
- How do I ask for a raise?
- Should I save for an emergency fund or should I put more money down on my car to pay it off sooner?
- Should I get a credit card
- Does anyone have experience discharging student loan debt due to an undue hardship?
- False location advertising on AirBnB. Do I have any real options?
- Questions about Roth IRA that I need someone to ELI-a-moron
| Posted: 06 Oct 2018 07:29 AM PDT Sorry if this is a ridiculous question, but it's started a family argument. My girlfriends mom is adamant that credit card companies would never ask for a photo ID, or a photo of her social security card for "verification". I'm pretty sure it's legit because she signed up on the official Capital One website. Can you guys give us a clarification on whether this is the right move? [link] [comments]  |
| What can we do as a society to improve financial literacy amongst young adults? Posted: 06 Oct 2018 06:08 PM PDT Is society intentionally designed to keep financial literacy low? And it seems like college tuition rates are constantly increasing... [link] [comments]  |
| Posted: 06 Oct 2018 04:24 PM PDT My daughter has a condition that requires an expensive checkup every so often. While Amazon does offer great insurance, it is still quite expensive for us. Medicaid picks up the premiums and copays for my two children. The $1.65 more I'm getting does not cover the $175 premium every two weeks in addition to the copays I will have to start picking up. This is in addition to losing yearly RSUs, monthly bonuses, and food stamps. This is a huge net loss for me and will require a complete budget rehaul. I can deal with the others, but keeping myself eligible for Medicaid is a must somehow. If I put the extra money into a 401K, that technically reduces my taxable income. But is that what they actually look at? I've "heard" that this works, but I can't find any clear answers. Thanks [link] [comments]  |
| Posted: 06 Oct 2018 08:51 AM PDT This started a month or so ago, and he always forgets to come open and says "We really weren't suppose to be in at 11:30am, just a mistake from last week", yet in my schedule, every week it tells me to be at work at 11:30am. Anyway, are they legally required to pay me for the time I spend waiting outside the door to start my shift? Thanks in Advance. Edit: he just got in and said "Don't pay attention to that schedule, we're only in at 11:30 if we didn't finish our job last night" [link] [comments]  |
| 16k loan for IT security boot camp. Should I make the leap? Posted: 06 Oct 2018 03:55 PM PDT I'm currently a truck driver making roughly 50k a year, but I'm frustrated with the lack of advancements I can make. Recently I reached out to the UM after seeing an online ad about a Cyber security bootcamp the university is now offering. It's a 2 day a week program that takes roughly a year to complete and will cost around 16k when all is said and done. After some quick googling I found that entry level jobs using the credentials offered in the bootcamp pay around 80-90k a year, but it varies from place to place. 16k for an education isnt much, compared to a 4 year degree or a specialized program like commercial pilot school that is around 60-70k, but it's still a significant amount of money. Would it be worth the investment to go through this program, and are these jobs something that will last through the changing times ahead of us? [link] [comments]  |
| How do the “credit repair” companies work? Posted: 06 Oct 2018 04:55 AM PDT I'm constantly hearing about "fast credit repair!!!" companies. How do they improve your credit if negative factors in your report are legit? Do they use section 609 from the FCRA? From what I gather, this essentially means that the burden of proof for something reported on your credit is on TU/Equifax/Experion to validate. If they cannot validate it, then it is removed from your credit report. Is there any truth to this repair tactic? Say for example that I have a medical bill from two years ago. I question it's validity and dispute it. The credit bureaus cannot validate it...so it's removed? Just curious if that is what all of those "credit repair" companies are doing. [link] [comments]  |
| Posted: 06 Oct 2018 07:04 AM PDT Hi All, quick question. If someone has $110000 in savings. A mortgage of $60000. No other debt. Employed. 40yo. Should they just pay off the mortgage? Doing so would save about $15000 in interest over the remaining 10 years of the loan. Is there a better option? Thanks [link] [comments]  |
| In debt and not sure what to do. Posted: 06 Oct 2018 05:43 PM PDT So to put things simply: I owe 6200 in student loans at the present. I owe 1250 on my cellphone bill, I owe my bank 900, and apparently I'm I also owe the apartments which I have never lived in 7750 for an entire years of rent. Last year I went through probably the deepest stage of depression and anxiety I've ever had in my life. I was constantly in and out of the hospital due to being incredibly suicidal and I was not capable of taking care of myself at that time. I got fired from my job because I couldn't focus or really do much of anything, and thus my bills went unpaid. 1250 for about 9 months behind on my phone bill. 900 due to auto bills overdrawing me. 6200 for my first year in school which I was forced to drop out of due to my mental health. Then there's the 7750. It is being claimed I owe that to an apartment complex which I was originally going to live at in my college town. I ended up moving back home and wasn't able to move in. I called two months before my lease was set to begin explained the situation to them and they told me that they would take care of it. I receive an email 3 months later about how I have 2 months missed rent, so I call back. Same thing, I'm told that it was a mistake and it would be taken care of. 5 months later I'm sent an email telling me I owe them 7750 for the entirety of the years rent. I call back. I'm then told by the leasing manager that unless I have recordings of these conversations I can't prove I ever called and that he was going to send it to collections. The thing is I never lived there. I never even entered the apartment, and while I did sign the lease via electronic signature through my email I didn't sign the other document they sent me regarding how they were going to put two roommates in the apartment with me. I didn't need to because I wasn't living there anymore. I start my new job next week and I'm finally getting back into the workforce, but with these debt burdens I don't have any idea how I'm supposed to do much of anything at all. I don't know what to do, advice is appreciated. [link] [comments]  |
| Posted: 06 Oct 2018 06:20 PM PDT A big "selling point" for the Roth IRA is that growth doesn't get taxed, but since the pre-growth amount gets taxed it seems like you end up with the same amount out anyway - except for the question of whether your tax bracket is higher now or after you get old. Calculating how much money you have when you withdraw you have: traditional: money-available = pre-tax-income * (1 + geometric-mean-growth)years * (1 -- retirement-tax-rate) roth: money-available = pre-tax-income * ( 1 -- current-highest-tax-rate) * (1 + geometric-mean-growth)years assuming your taxes now and when you retire are exactly equal, there's no difference between these 2 calculations other than where the hidden costs are. assuming a more "traditional" career path, your highest tax bracket now is going to be higher than your overall tax bracket when your retirement vehicles are your only source of income - and the traditional IRA is the best choice in this case Finally, assuming a "I won't retire" career path you start withdrawing the funds while still working and making as much as you did when contributing - and go through a significant chunk of your investments before actually - and the Roth results in reduced taxes overall my conclusion is that the only reason to ever do ROTH is if you plan to keep working into your late 70's and have some way to prevent anyone from making you retire. (Or you quit your job with a large severance or other windfall or decide to decimate your emergency fund and spend the following few years in tahiti* while doing aggressive conversions while keeping your income low enough to stay in the minimum tax bracket) Where's the flaw in my logic? Edit: TLDR Since taxes while working are necessarily higher (~35%) than taxes when not working (~15%) Roth is a bad idea for most people Edit2: Hold on since traditional IRA withdrawals count as income there's a certain point where that affects capital gains taxes for your non-retirement accounts - is that the big reason then? Planning to live off so much capital gains money that the difference in your non-retirement capital gains tax makes up the difference? [link] [comments]  |
| I just found out that my wife is pregnant, and we have little to no savings. Advice? Posted: 06 Oct 2018 07:16 PM PDT So yeah, it's our first pregnancy. Not a complete surprise, but still stressful nonetheless. We're both employed, just looking for some sense of direction. EDIT: Thanks guys! Everything so far has been really helpful. [link] [comments]  |
| Glamour Magazine's "The Cost of Being Me" series Posted: 06 Oct 2018 10:27 AM PDT Glamour Magazine's Youtube account started this series (2 videos thus far) detailing how people use their money given their context (job, geography, age, marital status, etc.) It reminds me of many posts in this sub (like a video version of this one, for instance). I enjoy the idea quite a bit and in particular enjoyed the video of this very financially literate 24 year old woman: https://www.youtube.com/watch?v=Hnrfv4nR-DM One may say (and many in the comments have already) that it's easy to talk when you come out of college without debt, but she seems very aware of the right moves, much like the knowledgeable folks of this sub. I think this falls under the subject of "discussion". What do you think? Is this type of video useful or interesting to you? Do you find it realistic or meaningful? [link] [comments]  |
| Starting off in life with 6k and absolutely lost Posted: 06 Oct 2018 06:49 PM PDT Ok so, I'm completely starting fresh. The only things i have are 6k cash, 750 credit, and a single credit cards (discover). I assume the first thing I need to do is open a bank account. What's the best option for me? I hear chalres schwab is good but I really have no idea. What are some steps I'd need to take? [link] [comments]  |
| Whole life insurance created by parents -- $600 annual premium worth it? Posted: 06 Oct 2018 06:47 PM PDT So I know that most people on here discourage the use of whole life because it is very expensive when compared to term insurance and can benefit the insurance agent rather than the customer. My parents set up a Northwestern Mutual whole life insurance policy for me when I was a baby and then I took it over after college. The policy premium was ~$300 at that time. I upped it once in my late 20s and it's now ~$600 a year. I'm trying to figure out whether I should keep the policy or not. Details (amounts rounded): Net Death Benefit -- Net Cash Value -- Annualized Premium 17,800 -- 2700 -- 115 20,100 -- 850 -- 270 20,000 -- 50 -- 280 [link] [comments]  |
| Posted: 06 Oct 2018 06:43 PM PDT I live in Massachusetts, I currently don't have a bank account so direct deposit is unavailable. I pay for everything with cash so this fee is real annoying. Is my only option to take all the money I can out at once to avoid the fees? Am I allowed to request paper checks? Thanks guys Edit: Thank you /u/econ0mist, and everyone else commenting. I'm going to talk to TD in the morning and see if I can get an account opened before my new jobs first payday! [link] [comments]  |
| Posted: 06 Oct 2018 05:19 PM PDT I'm currently in graduate school and have a private student loan from undergrad with a $13,000 balance and about 11% interest. I've taken out enough federal loans to cover tuition, fees and this loan, essentially consolidating it with my grad school loans. Is there any reason I shouldn't do this? I realize the initial loan servicer wants to make money off the interest so I just want to make sure there won't be any negative downsides to this. [link] [comments]  |
| Question on putting more in HSA if I also have to lower 401k (55+) Posted: 06 Oct 2018 07:53 PM PDT My wife and I both have HSAs. I also have a 401k that I'm dumping money into heavily. Her HSA isn't going to be close to being maxed out this year (mine will be). I could take $1000/month and max out her HSA... but I'd pretty much have to reduce my 401k contribution by the same amount. Is there any advantage to doing so, or should I just leave it as is, content in the knowledge that we (55+) are socking away every dollar we can pre-tax, one way or another? [link] [comments]  |
| Posted: 06 Oct 2018 03:01 PM PDT Met a roommate, thought she was great, then I get a phone call from her telling me the landlord said no roommates. A day after I paid her (Friday). Now she says it'll clear monday and she'll refund everything. What can I do if she doesn't? [link] [comments]  |
| Needing encouragement- full time student working 60 hrs week, exhausted and broke Posted: 06 Oct 2018 07:34 PM PDT I'm 23, and a full time student taking 18+ hours a semester, pursuing my bachelors in elementary education. I'll graduate in Summer or Fall of 2019 and I'm hoping to find a teaching job ASAP after graduating. I have a part time job and a few weeks ago I also picked up a full time job as an assistant preschool teacher, bringing my total work load to around 60 hours a week. This might not seem like much on paper, but the reality of it is that I leave my house at 8am and get home at 9pm, Monday-Friday. I work Saturday mornings as well. I'm exhausted. I make ~1500 a month, bringing my annual income to around only 18k a year, despite my 60 hour work week. I got the full time job to increase my income in order to hack away at my $73,000 of debt, mainly consisting of student loans and a littte cc debt (used to pay for additional tuition and books). But with this workload, I'm wondering if it's even worth being exhausted all the time for such measly pay. How do people afford life? It's depressing. Thankfully, my parents have been kind enough to continue to let me live with them still because I've never been able to afford to move out. I don't even have the option to move out because I don't qualify for my city's cheapest sketchy studio apartment with my low income. I have no monthly payment of any kind, so nearly every penny I earn goes straight into paying off debt. I budget each paycheck using Every Dollar, and I'm trying to follow Dave Ramsay's baby steps plan. I'm currently working on baby steps #1 and #2 simultaneously. I'm just tired...I'm exhausted. I'm okay with working hard to pay off my debt, but it's just frustrating that I can't even afford to live. It's like I'm working hard for nothing. Please don't tell me to find a better paying job. Obviously if I could've, I would've. Plus, this job allows me to do homework in the afternoons since I don't have time to do it during the week, so it works out nicely. Also, my logic was that it'll look good on my resume because it is teaching experience, which will hopefully aid in landing a job once I complete my degree next year. Any encouragement, advice, or success stories would be amazing. [link] [comments]  |
| Posted: 06 Oct 2018 07:22 AM PDT I have been working at a credit union in Seattle for a little over a year, have had three promotions since I started. I have been in my current role for over 9 months. I have been told my all my managers and peers that I go above and beyond every day. I give it my all and I make sure that everyone I work with is taken care of. My numbers are excellent and I'm constantly improving ways to do business. I also help out at other branches whenever necessary. The last few times that I have helped out, I worked with other people as the same role as me. All newer to role, with little to no experience. They asked me if they had received a fair wage, and they are ALL making more than I am. And to be honest I'm bothered by it. I work my butt of at work, I speak 3 languages and I am good at my job, and have brought in a ton of business. How do I ask for a raise? Edit: I am constantly asking about learning new skills, taking on more responsibility and helping other team members. My managers constantly tell me what a great asset I am to the team. [link] [comments]  |
| Should I save for an emergency fund or should I put more money down on my car to pay it off sooner? Posted: 06 Oct 2018 05:56 PM PDT I make around $32,800 and live with my dad, im 28 (please don't be judgmental, I have a mental illness) and have no bills except for an Amazon card account $132 left to pay off and my car $7,980 with $142.92/month payments, $149 for insurance (I need a better deal on insurance) and my phone bill is $89. I just got a raise to that $32,800/yr and won't be seeing the new pay difference till 2weeks. I'm hoping it's around $790-800/paycheck. My mom says I should save up $1,000 just in case for emergencies but I really hate debt and want to pay my car of within about a yr. [link] [comments]  |
| Posted: 06 Oct 2018 07:13 PM PDT I am a freshman in college and I just turned 18 about a month ago. I've been reading up on credit cards and building credit history for the past year or so. I mentioned something about a credit card to parents and they freaked out and told me to remember what I read in the Dave Ramsey book they got me. And I understood it. But I also feel like it was written from the perspective that if a person in given a credit card they will automatically spend more than they have. I have no problem believing that's true for most people but it's not true for me. I tried to explain that I would use it responsibly and how building credit was essential and they gave me the "No one needs credit line, rich people buy their houses cash." Well I told them they've surely didn't buy the house cash and while some rich people like Dave Ramsey buy their houses cash it's a huge waste of money for others who can just make the down payment and invest the rest. J didn't get anywhere with the conversation and eventually we all just got frustrated and my mom said something along the lines of "Look we're just trying to help you, and if you bury yourself in credit card debt we don't have the money to bail you out" and frankly that made me pretty livid. I have NEVER asked my parents for money. And while I understand that most kids my age you their credit cards to buy alcohol or take a spring trip to Europe I'm not them. I would just my credit card primarily for gas, books and minor wants that I would buy anyways with my debit. I know interest rates are insanely high on student cards but I will make the full payment every month. I understand that they are just trying to help me but I still think that family can have honest intentions and still be wrong. So instead I decided to ask a bunch of random people on the internet and see what the general consensus is :) If I hear that I'm wrong from a bunch of people on Reddit I'll be more receptive than just hearing it from my parents. EDIT: Thank you for all the responses, I really appreciate both arguments. [link] [comments]  |
| Does anyone have experience discharging student loan debt due to an undue hardship? Posted: 06 Oct 2018 05:38 PM PDT The standard is "no you can't get rid of student loan debt through bankruptcy". I've seen a few articles saying that there are ways around this and one is to prove paying back the loan would be an undue hardship. It seems like a long shot but I'm wondering if anyone out there has advice or has done this and can speak from personal experience. In a chapter 7 or chapter 13 bankruptcy. I know the best advice is to contact a bankruptcy lawyer but I thought I'd send a shout out into the Reddit void for advice first. Context: my partner has developed/been diagnosed with bi-polar 2 since he took out his student loans (to attend law school) he can no longer work as an attorney due to his illness and any of the jobs he has had have been around $8- $15 an hour. Over the past year his diagnoses from depression to bipolar 2, and switching to a more appropriate Med plan has helped him tremendously. His loans have already accumulated almost $10,000 in interest (started at about $100.000). And even if he is able to continue working these jobs He would never be able to pay off the loan completely. His currently plan is an income based repayment where he pays $0 every month. He may start to make nominal payments from $22-$200 a month if he can stay healthy. But he would still never pay off the total loan. It's a 20 year loan, and I am not sure if it's a federal or private loan. [link] [comments]  |
| False location advertising on AirBnB. Do I have any real options? Posted: 06 Oct 2018 01:58 PM PDT In early September, we booked a place in Chicago for a long-term stay form mid-November to mid-February. Location was our main search criteria so we chose a place in 'The Loop' because that is where we needed to be. It is important to note that AirBnB doesn't provide the guest with the Address until the initial payment is made (1000+) and the booking is accepted. Until then, all guests have to go on is the 'map pin' the website provides. The pin is clearly in 'The Loop'. So, we request to book and pay the fee and we are accepted. I didn't think about it after that because it was still 2 months away. Yesterday while making plans, I took a look at the itinerary and the address is actually located between North Lawndale and Little Village (over 6 miles away). I have contacted the host who has yet to respond. It's been about 24 hours. I have also contacted AirBnB who are taking the long way to tell me to contact the host. I know it is still early in the process but my correspondence with AirBnB doesn't make me feel confident that I have any recourse if the host doesn't want to refund me. I was wondering If I have any options if this is a scam. Thanks in advance for any advice. I have picture proof if needed. TL;DR Booked a long-term (3 months) spot. paid $1,000+ for initial fee. Actual location is over 6 miles from map location on AirBnB Just checked location. 2 Months away at the time of booking. Currently 1 month away. Have proof. [link] [comments]  |
| Questions about Roth IRA that I need someone to ELI-a-moron Posted: 06 Oct 2018 08:48 AM PDT I've been reading past posts and I just don't get it. I've always been a bit slow and needed direct answers.
Thank you for any help. This is overwhelming me and I appreciate your time. [link] [comments]  |
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