Personal Finance Not spending anything for 17 days |
- Not spending anything for 17 days
- Can someone tell me if this $100 can be salvaged?
- Rehab your student loans
- Parents keep borrowing money from me (without my permission)
- Had a major depressive breakdown two and a half years ago; it took me until now to find a steady job. My finances are in ruins; what are my options?
- Fidelity "banking" 1.8% money market fund with unlimited checkwriting and free ATMs
- Parent asking for auto insurance information
- Fell for a scam
- How to move out of state for a job?
- Trying to boost my credit score - is a $3k personal loan worth it?
- Best option for spendthrift trust for mom (60 years old). $200-250k to start.
- What is your thought on a home equity loan?
- Trying to give advice to my mother about finances (about $750k)
- Inherited IRA/Brokerage Account, Uneducated and looking to learn.
- 26 year old, dual citizen of Thailand and US just received inheritance, not sure what to do with the money.
- Burning bridges with family
- Is there a point to adding my wife as an authorized user on any of my credit cards?
- My past is giving me a hard time saving money - mentally and emotionally I feel very weird having money and I don’t know how to get over it
- How much difference does a cosigner make when trying to get a car loan with no or bad credit?
- Negative Mark on credit report for dispute?
- Why does my $16k car cost me $26k
- Best way to mitigate employment risk for blind professional
- Im getting married...
- filling out w4
Not spending anything for 17 days Posted: 07 Oct 2018 04:01 AM PDT So I had about 3700 in cc debt. I paid for an entire semester of classes and some other stuff. I just threw 1500, which was basically my most recent paycheck, at it (minus 50 bucks). I'm not going to spend money on anything except for gas for my scooter (~$3 a tank) and maybe cheap produce if I need food. I've been eating out almost daily for the last 2 months so I need to reign that in as well. If something comes up I have an emergency fund that can pay rent for a few months. I pay rent on the 15th so on my last paycheck I set that amount aside already. My work feeds me, I have groceries for a while, and I have soylent that could take me into the beginning of next year so I dont have real food expenses right now. Only other bills are internet ($50) and power ($50). And cat food/litter ($35+$15) but I have lots of that. I have a gym membership on the card I need to cancel but I've been dreading it, even though I haven't gone in months cos they're nice people, I moved and it's much further now and it's just not practical for me to make it there because they're class based and my schedule doesnt work with it. This is the first time I've ever had so much on a cc, and I've had a laid back attitude about it because "eh I can always pay it back" but for the last couple months it's been bouncing back and forth. I'd throw in a lump sum payment and feel good then I'd spend a bunch because I'm well under my limit (it's the amazon prime signature visa). My credit report went down almost 20 points from high utilization. I want to start the new year off right so I'm starting now. The crazy thing to me is that this is more than my student loan debt from trade school, which I've just been very lazy about because the payments and interest are so low. My student loans are $2200. I'm so far ahead on payments that I dont even have a minimum payment right now and the last time I paid was july. I'm going to really try to kill this debt before the end of the year. Wish me luck! tips and tricks appreciated. Have any of you ever done "no spend " weeks or months? [link] [comments] |
Can someone tell me if this $100 can be salvaged? Posted: 07 Oct 2018 04:33 PM PDT Long story short my kid ripped and ate part of it. I have both serial numbers still. [link] [comments] |
Posted: 07 Oct 2018 04:02 PM PDT Hey, I know none of you specifically asked for this but I figure I'll tell you anyway because its the situation I was in when I was just a lurker on this sub. I took out a credit card, opened a new cell phone account, got some financial aid, and then took a bunch of student loans out all at once a few months after turning 20. I had never paid a bill before in my life. I grew up with my mom, just not paying her bills. I had no idea how finances worked. I maxed out the credit card almost immediately ($300). A few months later I stopped paying the phone bill and opted to sign up for a prepaid plan. I (somehow) made it through school, and of course following my trend of scumbag moves I decided I should never make a single loan payment (because fuck it right?) Last year I got my shit together. I paid off my 2 old collections accounts (didnt need to, they were falling off shortly, I just felt like I needed to stop being scuzzy) and more importantly I finally called my student loan company and talked to them. I'd been terrified of doing this for literally 5 years. they put me on a repayment program (offered payments of $5 a month, I paid more) after 9 months of making my payments on time I was no longer in default. my loans transferred to a new company. Most importantly though, my late payment history was deleted. all of the old trade lines through the Dept. of ed. were deleted and replaced with new paid as agreed trade lines. My credit shot up 70 points. TL;DR pay your student loans, it'll fix your credit. [link] [comments] |
Parents keep borrowing money from me (without my permission) Posted: 07 Oct 2018 04:07 PM PDT Okay, so my parents aren't great with money. I'll be up front about that. Dad barely has a GED and my mom has a secretarial course from a super old community college sort of deal. I've always been pretty independent with my money because of this. I saved whatever I could as I saw my parents put themselves in debt and swore that would never happen to me. I payed my way through college, my parents hadn't put a cent away for me for a college fund and I didn't get any scholarships or anything of that kind. So obviously I have some student loan debt, not a lot, about 20k. However, to get through school I got a line of credit with my bank, as a just in case I have no money for groceries fund. I rarely used it. By the end of my 2 years of college I owed 5k (most of which I used to buy another car when my old one gave up). Last semester of my last year I found out my dad lost his job. He didn't get along with his boss and honestly he's a pretty shitty person sometimes who can't keep his mouth shut. That's where the 'borrowing money' started. They asked me to borrow some money from my line of credit (which they had to co-sign on for me). Guilt got the best of me and I said yes. Anyway, fast forward a little bit. I've graduated and moved back home (living with my parents), working a casual job in my field. I've had shit hours recently and money has been tight for me as I need to start paying back student loans pretty soon. Mom lost her full time job (through no fault of her own) but picked up a part time pretty quick. Dad still isn't working, living on barely even cash-able unemployment. I've been the one looking for jobs for him and half the time he doesn't even want them. Suck it up, you have no education and a horrible attitude. You are going to end up with a shitty job, if you can even get one (his age is getting up there.) The big kicker though is that they have been taking money out of my line of credit that was specifically for school (and that I've been trying to pay off) and not even asking me. I had to confront them after I noticed money coming out and went to the bank to inquire. They don't care. They don't care that it's my line of credit and that I'm trying to pay it off. Unlike them, I don't want to be in debt. They don't care that I have to pay back student loans and buy groceries and pay bills or put gas in my car. They keep telling me that they will pay it back but honestly, looking at their financial situation I know that I never will. It's frustrating knowing that they can do this to me and still sleep at night. They've borrowed nearly 7k from me as of today (which may not seem like a lot, but to me it is) and it's making me more and more angry every time I see them take more out. I've tried talking to them about it. They just say that they need the money and that they'll pay me back. When I ask when they don't have an answer. I can't financially manage this much long as the debt is pilling up and my hours at work keep going down. Normally I wouldn't post this on the internet but honestly, I just need some advice. The plan when I moved back home was to save some money, pay off my loans and get the heck out of this small town. That's seeming more and more unlikely the longer this keeps happening. What can I do? How can I get them to stop? Will they ever grow up and be financially responsible? (most likely no). Edit I already went to the bank regarding my parents having no access to the line of credit anymore but they gave me a bunch of bullshit and basically said they can't do anything (other than paying off the line of credit and closing it). I plan to do that I'm just worried about the amount of money they'll 'borrow' in the meantime. [link] [comments] |
Posted: 07 Oct 2018 02:17 PM PDT I have two maxed out credit cards gathering interest, three moves worth of unpaid rent and utility bills, and I owe a collective $4000 to two separate friends who went out of their way to bail me out of a bad situation. I'm in loan rehabilitation for my student debt, thankfully, and at the moment I find myself gainfully employed for the first time since this whole debacle happened. I'd like to maybe look into a debt consolidation loan, or at least some kind of helpful program to help me sort everything out and get my finances back in order. I'd really like to make this some kind of centralized ordeal, because debts keep popping up that I don't even remember accruing; I'm almost impressed with how much money my past self threw away while doing nothing but buy things and wallow in self-pity. Any suggestions? I really don't even know where to get started. My credit score is between 350 and 550, depending on who's doing the estimate. [link] [comments] |
Fidelity "banking" 1.8% money market fund with unlimited checkwriting and free ATMs Posted: 07 Oct 2018 04:47 PM PDT I am switching banks to get 1.8% on my checking account. With a Fidelity cash management account, you can put your savings/checking money into a government money market account currently getting 1.8% (minus ~.30% fees) and you get unlimited check writing and ATM use on all of your money, plus ATM fees are reimbursed nationwide. I called them and they told me that Fidelity will reimburse you if there is any fraud on your account. But this is not FDIC insured, its SIPC insured. But if you buy a government money market fund in this account you would get the government guarantee on the underlying investments. Update: The thing with the Cash Mangement Account is that you need to buy the money market mutual fund manually whenever there is a credit; otherwise the money goes into a FDIC-insured fund that pays peanuts. https://www.fidelity.com/cash-management/fidelity-cash-management-account/overview [link] [comments] |
Parent asking for auto insurance information Posted: 06 Oct 2018 08:47 PM PDT My mom, who I haven't talked to in years until recently, is asking for my car insurance information because she says she is getting audited by her insurance company. I have never been on their insurance and moved out 10 years ago (I'm 30 now). There is no reason why her car insurance company should even know I exist. She wants my driver's license number and state, my insurance company, policy number, and expiration date. It just sounds very shady to me. Any idea what this is? [link] [comments] |
Posted: 07 Oct 2018 10:31 AM PDT I was depressed and desperate and clearly made the wrong decision. These people offered coaching for an dropship online store. I payed them about 24000 in credit cards that I was "coached" to open. I am scared. Every day I wake up I get so much anxiety. Once these people had their money they were barely reachable. No coaching whatsoever. I also did a private lending with a working company with some of my Roth IRA. I don't know what I was thinking but I need help. I have no one to talk to and I am so embarrassed. Not sure if I should start a new IRA with a respectable company again because I am afraid these investments might also be a scam. If I do get my investment back, can I join the accounts later? I am incredibly alone. Please help. Maybe I should learn about investing to get out of debt, where should I start? Thank you all for all your help. [link] [comments] |
How to move out of state for a job? Posted: 07 Oct 2018 03:38 PM PDT What's the best process of moving out of state for a job? Initially, I assumed it would be a good idea to have a job offer in place before moving. But in practice, you would probably have a couple of phone screenings and then need to appear in person for a live interview. If you had to interview for several different positions, and you couldn't schedule them in the same week, it would be very costly and time consuming having to fly out of state each time. Even if you received a job offer, the company would probably want you to start relatively soon, but it might take a month or more to actually move once you factor in finding a new home, packing your stuff, and tying up all the other loose ends. So conversely, it seems like if you really plan on moving to a new state, you should save up some money, move there, and then start looking for a new job. That poses its own risks too. What if you can't find a job in that area? What if finding a job there takes longer than you expect and you end up depleting your savings too quickly? That's a big risk--packing up everything and going someplace far without any prospects in place. What's the best way to do it? [link] [comments] |
Trying to boost my credit score - is a $3k personal loan worth it? Posted: 07 Oct 2018 04:19 PM PDT Hey folks, I'm looking to upgrade my camera and the overall cost is around $2.5k - $3k. I should note that I have $3k saved up already, so I technically could buy it now without a loan. I'm also trying to build up my credit score, so I'm wondering if a personal loan might be more beneficial in the long run. I've read a few things online that say purchases around this amount really aren't worth it after the interest charges. Should I buy it in-full with cash, or get a personal loan? Any thoughts would be greatly appreciated! [link] [comments] |
Best option for spendthrift trust for mom (60 years old). $200-250k to start. Posted: 07 Oct 2018 06:26 PM PDT First time poster here. My grandfather is looking into adjusting his will to make sure that my mom doesn't end up with a lump sum of cash when he's gone as she's financially irresponsible. I've looked into annuities and Vanguard funds, but not sure which is best option. Don't want to be managing distributions myself and want to make sure there is some flexibility to use funds if needed for medical reasons. Will likely have 200-250k to work with. Mom is 60 and I'm assuming disbursement would need to be $2-2.5k/mo to cover her monthly nut. Appreciate any help here. [link] [comments] |
What is your thought on a home equity loan? Posted: 07 Oct 2018 03:40 PM PDT Here's my situation in a quick run down. I have about $28k in debt that I either owe to a credit card company, a family friend, or a debt collector. $8k of it is to family friends that would need their money within this calendar year. I owe $165k on my house and it appraised for $260k a year and half ago before I bought it. I'm in a sticky situation with my job and am on a month to month basis with it. I am approved at a bank with a prime plus 1.7% rate (or something really close to it). I can get a line of equity for any amount up to $69k. My credit score is between 690-719. What's your advice on my situation and what's you're recommendation on how to handle it? [link] [comments] |
Trying to give advice to my mother about finances (about $750k) Posted: 07 Oct 2018 01:38 PM PDT Hi all. This isn't about money that I'm handling, but I think that I could have a lot of influence if I could better back up what I'm talking about, or got some more and better ideas. Here's a back story: My father died in 2011 and his life insurance paid out $800k. My family lived in debt, pay check to pay check, not within our means etc. My mom, who isn't very financially literate / makes a lot of questionable financial decisions, was suddenly given $800k cash and somehow doesn't see it as being a lot / enough so she doesn't have to work for ever, never mind setting my sisters and I up for when she eventually passes. Basically, I think she's planning to spend all of it within her lifetime and go back to having not enough and being broke again. That being said, she luckily has always been one of those HGTV people and likes the idea of real estate. So she initially took that money and purchased a large, foreclosed home, put a shit ton of expensive work into it. Granite, new italian marble floors, refinished pool and patio, new kitchen, all three bathrooms, brand new appliances, etc. And when she sold it I'm not sure she broke even. (Purchased for $199,000 and I believe sold for $385,000). After that, she purchased 4 units in a low income/mostly rental communities. One she has put a new roof, added bedroom, and fixed septic. Another she redid kitchen and bathroom. There are 2 that she thankfully hasn't done work to because tenants were in place, however, they pay way under market for rent and she feels bad raising rent. She moved in with her now husband and has been doing the same type of renovations to his home now. Brand new kitchen with nice granite, new bathrooms, floors are being redone soon, etc. She'll call me sometimes and I get sick feeling. She'll say that she doesn't have enough money and is going to sell one of her properties so she has money (She'd blow through it and do it again to the next one!!! Ahhh!!!!!). So far, I've talked her out of it. I figure, right now, if she were to liquidate her rental properties, she could pull about $750,000, for all four, give or take. She has paid all cash for these places, but I have no idea what her debt situation with credit cards and things are like. THESE PROPERTIES ARE NOT UNDER A SEPARATE BUSINESS AND SHE MAY NOT BE PAYING TAXES ON THE CASH INCOME: MORE AHHHH!!!!! I'm trying to convince her to make sure everything is legit in case something happens. My thoughts are this: She need's to create an LLC and put all rental properties in the LLC in case she gets sued for a car accident or something. Then, she could refinance or take a mortgage (not good with the lingo, here) out on all properties, which would give her that $750,000 in disposable income. What to do with this money, is the question. If she has all that cash, she will spend it. No doubt. She's afraid of investing money because she sees the risk of it being lost, somehow same justification isn't made if she blows it on travel or home renovations. TL;DR: What should she do with $750,000 that won't be to risky, and that you don't have to be a financial genius to do? She is very risk adverse and gets overwhelmed easily about stocks and bonds, etc. [link] [comments] |
Inherited IRA/Brokerage Account, Uneducated and looking to learn. Posted: 07 Oct 2018 05:02 PM PDT Hello everyone. I'm reaching out to the world because I am, to be brutally honest, uneducated. I am looking for some advice as well as some basic knowledge. I recently inherited an IRA account and don't really understand what it means. I have contacted the company on many occasions to try and set up an appointment to talk about my account being managed, but alas to no avail. I know this is an account made up of a bunch of different stocks and it was previously being managed before it was passed down to me but now i believe it to be self managed. I feel as though that may be a slippery slope, since as I said, am currently uneducated. I just want to make sure that I am making the correct choices for my future and want this to help me in years to come. Would it be better to move to a different company? Since it is an inherited ira can i even move it to another company? What are questions i should be asking? What fees are associated with this? Are there penalties? [link] [comments] |
Posted: 07 Oct 2018 06:11 PM PDT My dad had written a will for me to receive a sum of money at age 26 (~130k). I just got the check and have deposited it into my checking account for now. My plans are to move back to Thailand and try to live on this money, as I already own a home and property over there, but I calculated the costs, and depending on how much I spend it'll last me only 10-15 years. I was wondering how I can grow this money and use it to live, investments, etc. Working is also an option although I work minimum wage in the US and I'm not sure what kind of work I'd be able to find in Thailand. Also I may want to start a family in the near future. [link] [comments] |
Posted: 07 Oct 2018 07:22 PM PDT I am about to graduate from grad school and I have a job lined up for me right out of school. I have never lived on my own because I have a controlling psycho of a mother, so I am planning on moving out and cutting ties. Unfortunately for me, this means pretty much starting out on my own without the aid of family-bundles on a variety of things. It also means having to buy my own car since my car is technically under my mom's name even though I give her the money to pay for the car. I am a male (22) and will have a pretty good income starting in February and I live in the Triangle area in North Carolina. I have money to start out with from my internship and I've saved 10k as an emergency fund for the past decade to prepare for this. Things that I think I would need:
If my estimates are right and I'm not missing something really important, I should be fine with my income. What are other things I'm unaware of? [link] [comments] |
Is there a point to adding my wife as an authorized user on any of my credit cards? Posted: 07 Oct 2018 05:46 PM PDT I'm trying to help her improve her credit, and wasn't sure if this would make a difference. I added her to my Lowe's credit card when I opened the account with them, and we are on a car loan together. Those are the only things that show on her account when we check it with credit karma. The Lowe's card shows for her on TransUnion, but Equifax shows no credit history as she's never had a credit card before. I'm wondering if I add her as an authorized user to my other cards now, will they eventually show up on her report as well? The thing that doesn't make sense to me is the Lowe's card shows on both my TransUnion and Equifax, but on hers it only shows on TransUnion. Thanks in advance for any help/advice. [link] [comments] |
Posted: 07 Oct 2018 10:03 AM PDT I've been in and out of homelessness. I've never had more than $3,000 to my name at any one time due to constantly getting right up to that point, then I lose a job, or something happens. Right now for the last month I've been wavering at the $3,000 threshold but every time I go over I panic and buy things I 'need' I want to get over this mental hurdle but I'm having a hard time and I know this sounds really stupid. But making money feels good, having it makes me anxious. Like there's something I can lose. But if I spend it, well then I did not lose it. And I'm used to being poor so having a couple thousand dollars feels like way too much. This isn't healthy and I don't know how to describe just how unsettling it is for me mentally because I know it sounds stupid to a lot of people. I don't know what to do. [link] [comments] |
How much difference does a cosigner make when trying to get a car loan with no or bad credit? Posted: 07 Oct 2018 06:37 PM PDT Realistically how much leeway does a cosigner get you when trying to get a car loan. I'm trying to finance a car but I have no credit, I have a good down and a cosigner with 720 credit score but how much leeway does that give me with a credit bureau? I need to build credit but I keep getting denied for cards and I don't want to invest in a secured card because then that takes out of my down and savings but should I just build credit? Any help is appreciated. [link] [comments] |
Negative Mark on credit report for dispute? Posted: 07 Oct 2018 04:48 PM PDT I woke up to an alert from Credit Karma and Creditwise about a negative remark reguarding a closed account. it says We noticed a change to the remarks listed on your Equifax credit report regarding your VERIZON WIRELESS account.1 You might want to stop by to review the new activity. If you find something that doesn't look right, you'll find the information you need to either contact the creditor is this bad like a negative account? All i asked for was a copy of the final invoice from some collection company to make sure it was legit. When i pay it will it go away? I've worked hard to remove all these kinds of marks so will this one stay there now? [link] [comments] |
Why does my $16k car cost me $26k Posted: 07 Oct 2018 08:18 PM PDT I bought a used Mazda 3 last Sept. for roughly 16k (the dealer agreed to waive some documentation fees so lowered the price to $15500). I recently decided to take a look at the paperwork and realized the "total balance I must pay" is $26 497 !!! I have gone over all the costs in my head and have no clue if I'm being ripped off or this is normal... I'll show the breakdown below Cash selling price of property and related services being financed = ( $2828) + ($2108) = $22799 Unpaid balance of cash selling price and fees to be financed = $22 888 Interest charges - fixed interest rate at 4.99% for 72 months = $3608 Cost of borrowing / cost of credit = $3666 Total balance you must pay = $26 497 This is my first time buying a car from a dealer so I'm unsure if all this makes sense. Any help making sense of all this is appreciated !! :) [link] [comments] |
Best way to mitigate employment risk for blind professional Posted: 07 Oct 2018 08:13 AM PDT I am going blind. As a result I am needing to make a lot of changes to my life. First and foremost I needed to attend a rehabilitation program to be able to still work without vision. I work in IT and am able to still do my job non-visually with the right tools. I had to move to a more expensive neighborhood recently to live near public transportation since I do not drive. I had been in an inexpensive suburb with no meaningful public transportation. I was able to put down 20%. My primary goal right now is to mitigate my employment risk. As a blind IT professional, I can still work but if I were to lose my job it would likely take longer for me to find work again than it did before I lost my vision. People aren't supposed to discriminate but they do. Before my blindness I was very confident in my ability to find a new job if needed within 30 days as my skillset is in high demand. My short term goal is to make it so if I was unemployed for six months it would not be a financial crisis for us. Long term I want to work towards the goal of being able to live off my wife's income so if I decided to work in a different field I could take a smaller salary and still meet the needs of my family. I recently sold our second car and paid off the loan we had on it. Income: 80k base salary (me) (I do get stock and bonuses but I don't want to count on that for these calculations) 36k salary (wife) - this will go up to 47k in a few years with no promotions Debts 365k on mortgage @4.75% 11k @ 6.25% personal loan for a business we are no longer operating 7.2k @ 5.45% on our primary vehicle 16k @ 6.8% student loans (wife) 6k @ 5.6% student loans (me) I have no credit card debt. What should I be doing first? I think I need a larger emergency fund than most, and I only have 12k saved for retirement so I know I need to make some aggressive steps there, too. [link] [comments] |
Posted: 07 Oct 2018 07:37 PM PDT I grew up with a single mother who was terrible with money. I want to make sure after my wedding that me and my fiance never have to dip into our savings money for bills that we have every month. Ive seen so many people get help on here so im hoping I can go about the way i budget my money in a better way. First off together we bring in $4500 a month. The bills : rent $1500 , car payments/insurance $500, student loan $150, phonebill $350, credit cards $200. Gas $350 Food $500 After all my bills im left with around $1000. This doesnt include savings, or spending money and thats what I need help with. Do i take the extra money and pay off my credit cards and student loan quicker? How do i decide how much to put away for a house every month and just in case money or do i put that in the same savings? How do i take money out of my check every week for rent so im not left broke at the end of the month when rent is due? We are getting a nice chunk of change and we want to own a house within the next few years. Can you guys help me out ? [link] [comments] |
Posted: 07 Oct 2018 05:18 PM PDT im a senior college student and i got a part time internship earning about ~20-21k a year, i live at home with my parents. how should i fill out my w4? they said they offer 401k benefits but didnt specify, i plan to ask, what should i be withholding based on 401k benefits etc. also im not entirely sure what "no tax liability" means for line 7 in addition, i have a part time online job, counts as independent contractor work, i dont make too much on it but its around 1.5k (can be more or less) [link] [comments] |
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