- I AM ABOUT to receive a large (~$30k) single advance payment for consulting work out of college. I have no prior experience as an independent contractor, no retirement savings, no accountant and no investment portfolio. This money is to last me for the next six months. Where do I start?
- [Other] Fiance is having issues with identity theft.
- Dad Resources
- Real estate agent was "negging" me
- Feel like I'm buried
- Prices listed were incorrect, overcharged at salon - can I charge back?
- My first "Adult Job"
- Credit Karma emailed me that someone has just added me as an authorized user for a bank of america credit card and that card has a balance past due.
- Just discovered my dad had a custodial account for me, I’m taking possession, what next?
- How much is my commute worth?
- Taxes for "Hobby"
- How to balance saving for a house with saving for retirement
- About to close on a home and came into some extra cash. Should I make a larger down payment or save it and possibly make payments on the principal?
- My 23 y/o girlfriend has been taking care of her mom for 4 years, we're not sure what to do.
- Aggressive payments on debt or retirement savings?
- Single mom with no help
- How the search for legitimate remote work?
- Should I remove my parent from my bank account?
- using Chase rewards points on Amazon/gift cards
- Considering bankruptcy, have some quick questions
- I will work for an US Company but I won't live in the US. Do I have to pay taxes?
- Paying off bills from collectors. How do I go about this?
- Firs time investor.
- What are the pros/cons of 0% store financing?
| Posted: 20 Nov 2018 06:56 AM PST |
| [Other] Fiance is having issues with identity theft. Posted: 20 Nov 2018 04:25 AM PST My fiance has had a number of identity theft issues over the past 8 years. He's had outrageous purchases on credit cards and had credit cards opened in his name. Recently, he had 3 iphones purchased through his phone plan. He called the company and they verified the purchase with him. Whoever it was had his SSN, address, driver's license number... It makes me a little nervous to marry him because I've never had issues with this. He has a freeze on his credit, but are there any other actions he should be taking? How do you even get someone's driver's license number? [link] [comments]  |
| Posted: 20 Nov 2018 06:52 PM PST I'm going to be single soon and I can only find resources for single mothers but not much for men. I make minimum wage and work overnights. Is there anything I can do government wise for anything? I need help with night care and more. Can anyone link me to resources for dads? [link] [comments]  |
| Real estate agent was "negging" me Posted: 20 Nov 2018 01:50 PM PST My partner and I have just started looking to buy a house. We're in Australia. We went to an inspection for a place that was $1.1m, had just failed to sell a week ago at auction and I knew the highest bid was $1.02m. We start just casually talking to the agent and immediately she starts negging us. No better way to describe it. "Ohh there's nothing in your price range in this area, I don't want to be rude but you can't afford it" (We're literally standing in one.) "There are 2 bids already at $1.095m and $1.08m." "No offence but you need to look further away." Even before this my trust for agents was low, they're the seller's agent, not mine. But I found this just bizarre given she's trying, it appears, to sell me this house. Then yesterday she calls me again, and after negging me some more reveals all. There are some newly approved houses being built, they're the bee's knees, etc etc. In other words, her commission is obviously higher if she flogs off one of these than the established house we inspected. An interesting experience. I've been negged at high end shops (Armani), and there's an AskReddit thread that explains the sales tactic for shops (I can't find it). But I didn't know it happened in real estate too. Hope it's useful for someone. [link] [comments]  |
| Posted: 20 Nov 2018 01:21 AM PST Credit cards 1-$4,000 maxed out Minimum payment-$100 2-$3900 maxed out Minimum payment-$98 3-$2,000 maxed out Minimum payment-$91 Personal loans 1-$1,900 Minimum payment $152 2-$1,000 Minimum payment-$100 Auto $210 Insurance $85 Phone bill $100 Storage unit $119 Pay $990 on the first and 15th. Currently I have no savings and and almost -$500 in my checking. Direct deposit so in a cycle where my paychecks seem less because of my own fault. I understand I have dug myself into a hole and to me it seems I have no way out. A combination of being young and stupid with the ability to attain credit cards and loans has put me in this predicament. I understand this is completely my fault just looking for guidance. [link] [comments]  |
| Prices listed were incorrect, overcharged at salon - can I charge back? Posted: 20 Nov 2018 08:09 PM PST Wife got her hair cut and colored at a salon today. As she's checking out they tell her "that'll be $320." WHAT. She points out that the website says something else, and the stylist says, "Oh those are old prices." Bullshit. Can she contact the bank and explain that she was overcharged for the service and show them the online prices? Here's the screenshots of the website: [link] [comments]  |
| Posted: 20 Nov 2018 06:05 PM PST Hello, I'm a 22 yo about to turn 23. I've just landed myself my first salaried full-time job starting at $95,000 p/y. I currently have about $2000 in debt and no dependents. Being so young I honestly have no idea what to do with this level of income. I don't want to blow it or get myself into financial issues by getting into debt. I also do want to enjoy myself as I will be working a lot of hours and wish to reward myself. My share of the rent is currently $120 p/w. Any advice on how to invest, Spend, Save, Etc, Etc would be greatly appreciated. TLDR: 22, Making 95k a year. No idea what to do with the money in order to set myself up in the future. [link] [comments]  |
| Posted: 20 Nov 2018 07:35 PM PST The email and Credit Karma website aren't giving me any information about the account number. I've already called both transunion and equifax to take the account off of my credit report, transunion said they took it off my credit report, but equifax said i needed to fax my SSN and Drivers license with a cover letter. I can't talk to Bank of America because I need the account number to talk to someone, but i don't have that. Should i be worried about this at all and is there anything else i can do without having the credit card information? [link] [comments]  |
| Just discovered my dad had a custodial account for me, I’m taking possession, what next? Posted: 20 Nov 2018 08:26 PM PST Yesterday I got a form in the mail from an investment fund about a Custodial Account for the benefit of me under the Uniform Gifts for Minors Act of NJ. The letter came to me, but also lists my dad's address as incorrect/undeliverable. I don't talk to my dad, so I called my mom who told me there might be a couple hundred dollars in there, if anything. Well, I called, and there's $9,300 in the account. Holy shit, right? So first thing I'm doing is just transferring it into an account under my name (so dad has no access, because I'm 25 and he's terrible with money so I'm blown away it's there at all). But I don't know what to do beyond that. I'll probably want to withdraw a little, I'm in law school and a little extra money would be helpful, but I don't want to take it all out. Do I declare this on my taxes? How do I know what kind of fund to transfer it to? I'm not sure how much was put into it initially or when, but it seems to have grown significantly. For the first time in my life, my dad's sheer dumbassery came through for me, so I'd really appreciate the help figuring out what to do next! [link] [comments]  |
| Posted: 20 Nov 2018 06:30 AM PST My lease and parking are up for renewal, which led me to re-do the math on the worthiness of my commute. Trying to get some outside opinions on if this longer commute is worth the savings. There's a TLDR at the bottom because I gave a lot of unnecessary extra information but let me know if there's anything I may have left out. For some background, I am 24 and work in finance making 79k. I have no debt, a 15k emergency fund, and I max my Roth + 401k + HSA. Because I save so much, things are a little tight but not completely uncomfortably so. For example: I just got back from a vacation with my friends that I saved for, but I cook all my meals and only eat out when with the boyfriend. So I'm not deprived but my budget is very tight and all non-emergencies must be budgeted for to afford them. Current Living Situation: I currently live outside DC in a studio apartment paying ~$1500/month (rent+utilities) and $85/month for parking. This is the first time I've lived alone and it is so nice. I'm a bit neurotic (horrible morning person, and I hate excess noise) so I've definitely become accustomed to living alone, but I recognize that this is a luxury and my biggest expense. If I was going to cut back, this would be where it would be. However, my commute is only 20 minutes each way and while I can't take public transit into work, I am close enough to it that I can visit my friend in the city occasionally. I wake up at 5:15, go to the gym at my work, then I'm at my desk by 7. I leave around 4:30-5 (but I have flexible working hours so I can basically go and come as I please). My situations really nice right now, I just feel like I am wasting a lot of money on this rent. As a side note, Amazon just decided to move in here so its possible my rent may skyrocket very soon. Also a concern. Potential Living Situation: I could move-in with my boyfriend of 5 years who lives and works in Maryland. We've wanted to for a while, but the problem is that if we moved in together our commutes would become very hard (darn you, DC traffic). I get up early enough to avoid morning rush, so I would drive 45 minutes in the morning (which I've been doing Monday and Friday mornings for a long time and its fine). But the afternoon is terrible, even if I leave as early as 3. I'd probably wait until 6 most days to leave, and it would take around an 1.5 to 2 hours each day. However, I'd be saving a ton of money all together. He lives in a much lower cost of living area. On just rent and parking alone (and accounting for the gas I'd need) I'd be saving just under 10k a year. Wowzers. Second Alternative: I could try to find a roommate around my current area. This is not as economical as moving in with the boyfriend since rent around here is much more expensive. I'd estimate I could save about 4k a year if I moved in with a roommate. I did this calculation when I first moved to the area and decided that since I was being so frugal in other areas, it was worth it to me to spend more to live alone. But it also probably didn't help that I couldn't find a good roommate in my time frame back then. TLDR: I currently have a 20 min commute each way but I pay $1585/month. I could have a 140-170 min commute (50 minutes there, an hour and a half to two hours back) but pay $700/month. Resulting in savings of just about 10k a year for the commute. Is it worth it? EDIT: Wow, wasn't expecting this many comments. Thanks guys! Definitely a resounding "don't do it!". Barring some crazy rent hike, in which case I'll likely just choose to get a roommate again, I'm thinking I'll stay put. [link] [comments]  |
| Posted: 20 Nov 2018 05:12 PM PST I have a hobby of building and selling computers. Me and my buddy are pretty much a company. We dont make much off these but we have sold some to businesses. I was talking to a guy at my job and he said about how our jobs accountant is going to call me and ask for information such as my EIN for tax purposes. My business is not registered or anything its just a hobby but we get paid for it. What do i need to do to prepare for tax season? [link] [comments]  |
| How to balance saving for a house with saving for retirement Posted: 20 Nov 2018 12:35 PM PST Hey All – My wife and I are 31, recently married. No credit card debt but no retirement savings to speak of. We're also looking at climbing the mountain of buying a house in the Los Angeles area (our home). Finally trying to get financially literate. Obviously we are behind the ball on retirement. We really want to start this now for the compound interest, but also the size of the downpayment we will need in this market is intimidating.
Some more details – 145K combined HHI, 6K student loan debt @ 3.15%, 6K car loan debt @ 3.5%, about 8K monthly take-home and we can usually manage to set aside about 2-3K of that. Any input goes appreciated! [link] [comments]  |
| Posted: 20 Nov 2018 08:06 PM PST I am about to close on a home for $115,000. I planned on putting 25% down or $28,750 and mortgaging $86,250. However I received a $10,000 bonus and my finances are otherwise on track. Should I just put it toward the down payment and reduce my loan amount to $76,250 or should I hold onto the cash and possibly use a portion of it to make overage payments on the principal in the future? [link] [comments]  |
| My 23 y/o girlfriend has been taking care of her mom for 4 years, we're not sure what to do. Posted: 20 Nov 2018 07:08 PM PST My SO works two jobs currently as a food runner, and lives in a 2 bedroom apartment with her mom (age 61). Last year she made 30,000 before taxes when she only had one job. Her second job makes more and she thinks over the next year it will be closer to 45-50,000. The issue with her mom is that she has some sort of psychiatric disorder, but she's never really been diagnosed. I'm not a psychiatrist or anything, but I think (maybe) something along the lines of schizotypal. She isn't able to work very much, but she has a job at the grocery store making about 100 dollars a month; she goes in one day a week. The big issue is that we're not sure if it's possible to receive social security for something like this. I also don't know if she could claim her as a dependent, or if doing so would make social security no longer possible (just based off of the logic that people don't normally receive social security just for having a dependent). It's been 4 years and she wants to put her into her own apartment and come check up on her often, but she'd have to be paying for all of her expenses which puts a damper on the idea of being able to ever buy a house or get her life started. She's only 23 after all. Any ideas on what we should do? I don't currently have much income. I'm a math tutor but all of it goes towards school right now. [link] [comments]  |
| Aggressive payments on debt or retirement savings? Posted: 20 Nov 2018 11:10 AM PST 36 male married with 3 kids (ages 6,5,3). Wife is stay at home $7,600/mo Take home income after taxes ($1,869/mo) and health insurance ($784/mo). Gross annual is $123,800 $3,600 monthly expenses. (some rounded below in breakdown) Breakdown - $1,400 mortgage | $400 car | $225 (auto + life ins) | $300 cc min | $430 Util | $400 student loans | $400 food | $40 gas (I work from home) DEBT - $72k Breakdown - $38k student loans, $12k in credit cards, $22k in car Own our home, probably about $45k in equity before realtor commissions, closing costs, etc. $2,400 IRA $20k in savings account (EF) We just finished saving up $20k as an emergency fund. Before that we were aggressively paying debt but had a job scare. Early this year my boss came to me asking to reduce our expenses by at least $10k/mo or someone(s) were being let go. Fortunately I found cuts and saved jobs, we also landed some more contracts and everything seems to be going well now. But this is a small company and we still have one contract that makes up 1/3 of our revenue. This is why I decided to get the emergency fund in place. I work remote and live in a much smaller market. A deep pay cut would be likely if I lost my current job and didn't relocate. The main issue is the debt and no retirement. Now that I have a comfortable rainy day fund I want to work on my retirement savings and debt (again). I'm torn between aggressive debt payments or aggressive retirement savings. I listen to a lot of Dave Ramsey, but have also read through MMM's blogs, and follow some other FIRE related blogs and podcasts along with /r/financialindependence. (I didn't post there because I think the answers would lean towards FIRE even though I know having $0 debt is a fundamental to FIRE.) Our practical and realistic contribution to either debt or retirement is $3k/mo, despite the budget showing we could do $4k. This is what we managed to save over the last 7 months to get our EF done and it is what we paid before on debt. I'm a human, not an econ. (ref Richard Thaler). Either way we also plan on paying off the debt well before retirement. If we go aggressive on the debt we can pay it off in 2 years. Easy math $3k over 24 months. If instead I put $3k into index funds over 15ish years with historical avg of 8% I should have $1mil by the time the youngest is out of high school (age 52ish for me). $1mil is plenty for us using 4% rule. If instead I do that over 13 years we end up with $800k. Enough for lean-ish FIRE. Either way we would at least be FI by then.
Edit: The few comments consensus is to pay off the debt. Fine [link] [comments]  |
| Posted: 20 Nov 2018 11:04 AM PST I've been separated from my husband for about 5 months. There's a restraining order in place due to him making threats. Since then he hasn't given me any money. While I was looking for a job someone convinced me to take out a loan.. the interest is pretty terrible. We do share a joint bank account but hes been putting his checks somewhere else. I recently got a job but the pay isn't great at all. Is there anything I can do about the loan? [link] [comments]  |
| How the search for legitimate remote work? Posted: 20 Nov 2018 06:51 PM PST So I am currently living abroad with my wife in Eastern Europe as we await her immigration documents to process, before we move back to the USA. I'm an experienced project manager in the IT sector, and I'm looking for something like customer service, tech support, word processing, administrative stuff, etc. That I can do either part or full time. Does anyone know of any companies that offer legit work from home/remote work? I'm looking for full or part time work, looking to earn $1k - $2k per month. Thanks for your input! [link] [comments]  |
| Should I remove my parent from my bank account? Posted: 20 Nov 2018 03:52 PM PST Parent has been jointly under my bank account since I got it before I was 18. They say a reason to keep them on is in case I wind up in a hospital and stuff. Should I get the form to remove them and have them sign it? [link] [comments]  |
| using Chase rewards points on Amazon/gift cards Posted: 20 Nov 2018 02:38 PM PST I've had a chase credit card (and more recently an amazon rewards credit card) for a little while now and have accrued what some would describe as "a shit load of points". Is there any benefit to using my points on amazon or converting it to gift cards over getting cash back? Like is there some sort of tax benefit or value increase I'm missing out on by pulling those points out as cash back instead of spending them on amazon? [link] [comments]  |
| Considering bankruptcy, have some quick questions Posted: 20 Nov 2018 04:48 PM PST I am 25, and considering filing for chapter 7 bankruptcy. I have $28k in personal loan and CC debt. I make an annual amount of about $29k after taxes. I bring in about $2k a month, with all my minimum payments totaled I have to pay $1500 a month. These are not estimates but actual figures (within $100). A lot of stuff I've read online says I would qualify. I recently moved back home to figure this so no more rent payments. The minimum payments are for my credit cards and personal loans, car insurance, internet bill and cell phone bill. I reached out to a debt management company and they would lower my monthly payments by about $200 which isn't enough to continue living. I only get about $500 a month to live off for gas, food, and other living needs. I could get to $700 this way, but I can't see myself living off of that with my minimum payments only going up when I have to get on my own health insurance as I will be kicked off my parents plan before the end of the year. My main questions are, should I stop paying my CC and loans before filing for BK? I have never had a late payment until this past Friday when I could not for the first time in 5/6 years make my payments. I know there are lawyer fees I have to pay for filing and haven't had any clear answers on this. I don't want my CC companies or personal loan companies to garnish wages or anything while I'm waiting to file and make a decision. So I just want to know what to prepare for now I'm missing payments and how long do I wait to try and file bankruptcy? I had made a sizeable purchase on one of my CC in the last 90 days (car problems) and I don't want it too look like I'm trying to commit fraud or anything. I would really like to not do bankruptcy but it doesn't seem like it's the end of the world and I've been taking some money management courses to learn how to manage money better to not have this situation again. This is an alt account so if I don't respond I'm sorry but I appreciate any and all information and help ahead of time! [link] [comments]  |
| I will work for an US Company but I won't live in the US. Do I have to pay taxes? Posted: 20 Nov 2018 08:33 PM PST Ok, so.. I just got bought by a gaming organization (me and my teammates). We will be getting salaries and we signed the WE8-ben tax form. So basically they will pay our taxes for us and take our 30%. I was told that if we dont live in the US we shouldn't pay those taxes. We dont want to mess with Uncle Sam but, is there a way legally around it? 2 Players would be from Panama, 1 from Argentina and 1 from Chile. I was also told that we could get paid as Professional service and therefore we shouldn't pay taxes. Please help, we're about to get paid the firstmonth and I know about players been paid fully without having to pay taxes but their orgs dont want to talk technicallities with them. [link] [comments]  |
| Paying off bills from collectors. How do I go about this? Posted: 20 Nov 2018 06:17 PM PST on mobile, sorry for the formatting So I'm just now getting to the point where I'm financially stable enough to pay off these two bills. Both are from about to years ago and were sent to the collectors. One is for around $400 and the other is about $1000. It's not much and I could've easily paid them off, had I been working a better job (I was around 19 when these bills came about! How do I go about paying them? Will they charge more or charge some type of fees? Is it best to pay them in full? I do know this has affected my credit, my question is, once I pay these off, will it still count against me when I decide to apply for credit cards, etc. In the future? Any advice would be appreciated!!!! [link] [comments]  |
| Posted: 20 Nov 2018 08:06 PM PST ELI5 : I have roughly 10,000.00$ to invest. What are some safe ways to invest as someone who has never invested before? [link] [comments]  |
| What are the pros/cons of 0% store financing? Posted: 20 Nov 2018 07:28 AM PST Hi PF, I'm remodeling my kitchen, and the contractor is projecting the schedule sooner than I expected, so I've got enough saved for the reno, but will be close on things like appliances with the faster timeline. What are the pros/cons of using store financing (think best buy, probably 0%) for the major kitchen appliances and holiday deals? I've got basically no other debt other than mortgage and excellent credit. No planned purchases coming up that would use credit, so I'm not really concerned about a small potential impact on my credit score. Also worth considering, my wife has a relatively short credit history, are there any pros/cons for an impact on her credit if she financed? [link] [comments]  |
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