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    Home Unlabelled Personal Finance 30-Day Challenge #12: Get involved with charity! (December, 2018)

    Personal Finance 30-Day Challenge #12: Get involved with charity! (December, 2018)

    December 01, 2018

    Personal Finance 30-Day Challenge #12: Get involved with charity! (December, 2018)

    30-Day Challenge #12: Get involved with charity! (December, 2018)

    Posted: 01 Dec 2018 05:07 AM PST

    30-day challenges

    We are pleased to continue our 30-day challenge series. Past challenges can be found here.

    This month's 30-day challenge is to Get involved with charity! As the end of the year approaches, there are many opportunities to extend oneself to be generous. The best advice is to "secure your own oxygen mask first" before helping others. The foundation of your generosity should be a solid financial footing for yourself. Until you have achieved this, you should be circumspect about monetary giving.

    Monetary donations

    If you have the means, consider monetary donations as these are the most efficient use of your charitable resources. Don't spend money to buy material goods that you intend to donate unless they are specifically requested by the charity itself. Cash donations allow for flexibility for the charity to get exactly what is needed at the right time in the right quantity at the right place to serve their mission.

    Make sure you are contributing to charities that are good stewards of your hard-earned dollars by checking Charity Navigator, Give Well, or another trusted source. If you do decide to donate cash, see if your employer matches contributions to extend the benefit. You may also consider donating to a charity that has assisted you or your loved ones in the past.

    Material donations

    December is a great month in which to declutter your home, especially if you are participating in one of the many gift-giving holidays. Review your living space to determine what you can part with and how you can enjoy the reclaimed space. You can donate material goods to Habitat for Humanity, Goodwill industries, AmVets, and local options near you such as food pantries.

    Time donations

    Of course with all the donations coming in at this time of year, many organizations will need volunteers to help with the influx. If you are unable to donate money or material goods, you can consider donating your time. You can use Volunteer Match or Catch a Fire to get you started. There may also be local soup kitchens, churches, schools, or other organizations that need assistance.

    Alternative donations

    There are other ways to be charitable if you don't have spare money, goods, or time. Here are some ideas:

    • When making Amazon purchases, use the Amazon smile program to donate a portion of your purchase to a designated charity at no additional cost to you.
    • Check with your local markets and grocers to see if they have programs such as Kroger's Community Rewards to direct donations to local charities.
    • Keep an eye out for local restaurants and cafés that will donate a percentage of proceeds to charitable organizations, and patronize them during an eligible time period (schools are frequent beneficiaries of such programs).
    • The Make-a-wish foundation, the Red Cross, and Miles for Migrants all accept donations of airline miles.
    • You may be able to donate hotel or resort points. Contact the relevant hospitality group for details.
    • You can elect to donate credit card rewards to charity.
    • If your health and personal philosophy allow, consider becoming a blood/plasma donor or registering for bone marrow donation. You can also consider registering as an organ donor and revising your will to donate your body to research after you pass.

    Taxes

    When donating cash or goods in the US, qualified charitable contributions can reduce your tax bill so doing good may end up helping your wallet too. You can also consider advanced tax reduction strategies such as giving appreciated stock or bunching your donations to meet the itemization threshold.

    Receiving charity

    If you are in need this year, please consider being the good-faith recipient of a charity's assistance.

    Challenge success criteria

    You've successfully completed this challenge once you've done one of the following things:

    • Donated money, goods, or time to a charity or organization.
    • Made an alternative donation or plans to donate.
    • Received charitable assistance if in need.
    submitted by /u/AutoModerator
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    Am I insane for thinking about taking 3-4 unpaid months off to travel?

    Posted: 01 Dec 2018 05:05 PM PST

    Background: 25 years old, living in the northeast US. Recently paid off $50k in student loans and now completely debt free. Around $75k saved for retirement and $10k liquid.

    I'm thinking about leaving my current stressful but well-paid job at a tech company in a few months and finding an opportunity abroad on Workaway or HelpX. The plan would be to work on a farm or in a hostel abroad (Europe or South America) for a couple months then returning to the states to dive back in with another company.

    My expenses would be around $1000/mo during this period but I wouldn't be able to save as aggressively as I have been doing. Still, I think it would be an extremely fulfilling experience. I currently rent so I'd do this at the end of my lease, don't have a car to unload, and have been trimming down on possessions so I could easily keep my belongings with family while I'm away. I'm also a dual citizen (US/NL) and could legally work in Europe for this period.

    Is this something that's worth pursuing or just reckless? Has anyone here has experience doing something similar?

    EDIT: Just want to say thank you to those who have added their thoughts here. Was not expecting this kind of response or consensus when I posted. It's easy to lose perspective in a career track where competition and profits are #1 above all else. It's so, so helpful to get input from a group of people with all kinds of experiences and goals to help me find my way a little more clearly.

    submitted by /u/adthrowaway869594
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    Dad didn't read loan condtions, now owes about $68,000 that he can't afford.

    Posted: 01 Dec 2018 03:33 PM PST

    Backstory: My dad currently has 2 mortgages out on his house, one for roughly $105,000 that is the traditional loan. Pay this off and you own the house. The second mortgage is for a business that he bought into, he has been working there for more or less his entire life and when they expanded to a new building (tool and dye shop) he was able to purchase part of it totalling about $80,000.

    The $80,000 is the loan in question. It was a 10 year loan and it has now matured and the remaining balance of $68,000 needs to be paid off. My dad not being very financially savvy, never read what his payments were going towards and is now expected to pay the remaining balance in full. He does not have that money or anything really near that. When he tried to continue the payments the bank sent the check back to him and after going in and talking to them they will not take anymore payments unless it is the full amount. At this point he is considered about 120 days delinquent. He tried reaching out to other places, taking a loan out to pay off this loan and was declined due to his poor credit score. Is there anything he can do? I am reluctant to offer to co-sign a loan for him because of how it'll affect my credit.

    Financial info: -1st mortgage - $105,000 -2nd mortgage - $68,000 - Home value - roughly $210,000. Has not been appraised in a while though. -Owes about $8500 on his car, which is a '15 Kia Soul. -Has a mortocycle which is being paid off (I can get amount if important) -I don't believe he has any credit card debt. -$50,000 in a 401k plan -He still owns the equity in the building he works at, but is trying to use that as a retirement plan. I am unsure how much it is actually worth right now.

    We are trying to figure out if there's anything he can do, whether it be to elongate the terms on the loan or possibly take another loan out to pay it off? He is worried about foreclosure, is that possible? Bankruptcy?

    Is it worth consulting a debt specialist/ lawyer?

    Tl;Dr - Dad owes about $68,000 for a matured loan, cannot afford to pay it. Bank has stopped accepting his payments.

    If there's any information that may be helpful, I will try to monitor this the best that I can and get back as quick as possible. Thank you!

    submitted by /u/skiddmarkk
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    Credit card has a phone number associated with my account that can be used to gain access to it, that I did not add, but will not let me know that number

    Posted: 01 Dec 2018 04:48 PM PST

    Edited to clear up some details:

    My credit card's fraud department left me a message to call back because they want to verify some purchases. I called back the number on my card to ask if it was a legit call and they said yes and transferred me to the fraud dept. to verify me as account owner, they asked if they could send a text to a phone number I needed to provide. When I provided my number that's on my account, they said it wasn't accepted. When I asked why, they said it has to be a number associated with my social. I said, "just send a text to the number on my account". They said, "no we can only send a text to a number associated with your social. We need you to verify this number so we can send you the text". I told them I have no idea what phone number this is since I only use prepaid service. They said that a phone number had become associated with my social in the last few months and this usually means that it is somehow oh my credit report through an account that's been opened with that social. Since again, I only use prepaid service and I haven't opened any accounts recently, I said again that I have no idea what this phone number was.

    I asked if it was the same area code as mine, and they said no. I asked if it was in the same state as me, and they said yes. I asked if they could give me any more information what this phone number is and they said it's "proprietary" and they cannot. I then asked if they could at least let me know what company they use to get this info and where it's coming from and they said no. I asked can you give me any more info to figure this out and they said the best advice they could give is to check my credit report.

    I checked my credit report and the only phone number showing up is my phone number with no new mobile phone accounts. So, at this point I'm pretty worried and thinking either someone has opened a credit account in my name and used this number or opened a new mobile phone plan in my name.

    I call back my credit card fraud department and they refuse to give me any more info or advice to figure this out; despite the fact that they are allowing this phone number to stay on my account and be used as a verification method but I don't know what it is! They are refusing to do anything else. Any advice on what I can do here to solve both the issue of figuring out what this number is and where it's coming from and how to remove it so it can't be used as a verification method on my account?

    EDIT: this was really my credit card company, they verified me using other info like past purchases, and they offered this option of verifying my account with phone number associated with my social as the sixth verification option.

    submitted by /u/migimagi
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    So Wells Fargo just fucked me over, and I have no access to my money. What the hell do I do?

    Posted: 01 Dec 2018 03:07 PM PST

    My bank, and apparently my bank account, were both recently bought by flagstar bank, from Wells Fargo. I received mail notifying me that something was happening, and I figured more info would come later. However, even though my address was updated, flagstar sent the new debit card and info to a 4 year old address. The account was then closed and transferred from Wells Fargo to flagstar. They cancelled my debit card, the banks are all closed for the weekend, and I have zero access to my money. My old account overdrafted somehow, and my card was declined today. Rent was due today and I don't know what to do. All of this happened without any say or action on my part, but they said I have to go to a branch in person to fix or reverse it. They took my money just fine without me going there, but need me to do so to give it back. All the affected branches are closed til Monday and I have nothing right now. What do I do? Can I take legal action over this? Should I? I'm lost.

    submitted by /u/GlassThunder
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    Sent a check for office supplies for a remote position I just accepted. Is this suspicious?

    Posted: 01 Dec 2018 10:06 AM PST

    I hope this is the right place to ask. I apologize if it's not. I'm going to keep this fairly general to protect my identity.

    I accepted an offer for a high paying remote position. I looked into the company and it is definitely a legitimate company, and the person that I was supposedly talking to is a recruiter for the company. I was sent a large check to buy office furniture and a computer as well as a list of approved vendors.

    However, something just doesn't feel right. It goes back to the saying "if something feels too good to be true, it probably is." One of the things I noticed is that the package is from 'State A', the check is written from a different company from 'State B', and the company that hired me is in 'State C'. Is this normal? My biggest concern is being used in some way for money laundering. Is there anything I can/should do to verify the legitimacy before attempting to cash it?

    I'm sorry if this is vague. Please let me know if there are more details I can provide.


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    Make a budget (spend less) then optimize your spending (earn more)

    Posted: 01 Dec 2018 09:46 AM PST

    Hey PF,

    So I thought I would share some helpful ways to save money and ways to optimize your spending.

    The first way (and the best way) to save money is by lowering your expenses by developing a budget. You might be surprised to see how much you are paying for some expenses. Some popular websites include YNAB, Mint, and Personal Capital. I personally just use Mint, I just like the format and I find it easy to track my day to day expenses as well as any debt you have. As far as some advice if paid bi-weekly I would recommend budgeting based upon 2 pay periods per month rather than taking your bi-weekly paycheck * 26 (pay periods per year) / 12 to come up with your monthly income. If you budget based upon 2 pay periods instead of your monthly income, you will be able to treat your 2 extra paydays a year as a "bonus" (when you have 3 pay periods in one month). Take a look to see what expenses seem higher than you thought, see if there are ways to reduce them.

    Build an emergency fund, first aim for 1,000 initially and then after paying off the debt you can look to build up the EF up more (3-6 months expenses). This flowchart does show you the steps to help you reach your goals.

    With all the excess, unallocated money, you should start to pay down your non-mortgage debt. The "best" way to pay the least amount of debt is by paying off your debt with your highest interest rate and working your way down to the lowest. If you are someone who needs to see the immediate improvement and see debts getting paid off, then paying the debts from the lowest balance to the highest might be the best route for you. This might not be the best way to save the most money, but you can more easily knock off lower debts and you can use that as motivation to continue paying off the debt.

    ​

    Additional ways to earn more money (money in the bank or through spending)

    ​

    Take a look at where you bank. Are you banking at a nationwide company or are you banking with a local bank/Credit union? Are you paying fees based upon your balance? Are you paying fees if you take your money out of an ATM that is not your bank? You should look to see how much you are being charged to keep your money in the bank also you should look to how much interest you are earning on your money. There are a lot of banks and credit unions other there that don't charge fees or give you interest rates up to 3%+ (make sure to read the fine print). I open look over Deposit Accounts every once in a while to see if there are any changes or higher rates out there. I bank at Lake Michigan Credit Union and earn 3% on balances up to 15K, which comes out to $450 per year in interest. I also get $10 refunded for ATM fees (if I do not use the ATM at the bank). I house a good portion of my "emergency fund" within the checking account. Itself. You can also use the same website for the best rates for Savings Accounts (make sure to review the terms of the savings account for limits for deposits and withdrawals) or even CD Accounts (just set the term and possible penalties). Don't just "settle" for a big bank, explore your options.

    Once you have stopped paying interest and started earning interest from your money in the bank, the next way you can earn money is through credit cards (Make sure to pay the debt off in full every month, the 2%-6% you might earn is not worth paying interest of 25%). You can either focus on Cash Back or Travel Points, personally, I just like to look at the cash back, as I like to just like to redeem my points for cash instead of travel. This website is a great resource that breaks down the best cards for each category. From your budget, you can see the areas where you spend the most money and work your way down the list to the smallest category. The Citi Double cash card is an easy way to get 2% cash back on everything, most cards get you 1% back, so it is the best "everything" card, but you can get cards for 6% on groceries, 5% on Gas, 5% on Amazon or Target, or 4% on eating out. You have to determine if it is "worth" you to get another credit card to pay for the specific category.

    I have the American Express Blue Cash Prefered (6% groceries, 3% Department Stores, 3% Gas) Uber Credit Card (4% eating out, 3% on Airfare and Hotel, $50 Statement credit on streaming services if you spend enough, $600 cell phone coverage if you pay the phone bill through the credit card, Discover IT 5% revolving categories, Amazon Prime Credit Card 5% Amazon, Citi Double Cash 2% everything). I could continue to go deeper with the credit cards, but the additional gains were minimal.

    These are the ways that you can have your money in your bank do work for you and how you can earn additional cash back on your day to day spending.

    If you are trying to save money on a mortgage, make sure you shop around. Don't just default to using your current bank that you have. I would suggest looking for a local broker shop to find the best rate and price, this also helps support local business. They have the ability to shop across multiple different lenders to find a solution to your current needs compared to being stuck with what the bank gives you. ALSO more times then not, you will get a better rate with your current bank IF you go through a broker shop (for example if you bank at Chase, you will get a better rate if the broker goes through Chase then going directly through chase). Now there are exceptions to the rule, especially if you are a private client, you very likely might get a better rate but you should still shop around. Also just as far as mortgage credit pulls within 14 days count as 1 inquiry.

    Loyalty might help with mortgages (if you have a lot of assets with the institution), but the same does not apply to Insurance. Again you should look at your current coverage and shop around every 3-5 years. You might see the rates slowly creep up. Which is why it is important to shop around. I don't have a great source for Insurance, the only one I found is this one, but it doesn't necessarily get everyone one in your area. I might rely on google maps to find a local one. Try to avoid going to insurance companies that do a bunch of commercials, as you are paying for their advertising

    ​

    Edit: Fixed a couple of typos. Added part about Mortgages and Insurance, I forgot to originally add.

    submitted by /u/ReallyBoredMan
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    Expressing my gratitude

    Posted: 01 Dec 2018 05:01 PM PST

    TL:DR: Made small changes, had good results. Implemented advice given here and managed to kill a student loan within a month's time.

    Hi all,

    I'm a big lurker on this subreddit, but I'd like to express my gratitude to everyone who really gives a swift gut punch of reality.

    Something I see a lot at my age, and something I started to succumb to, was the lifestyle creep of spending more on conveniences as the wallet gets a drop of cash injection. Mainly eating out, buying $5 lattes, and purchasing more "name brand" goods. I've made changes to my life, which at first did not seem all that impactful, but really contributed to the, "Where did all my money go?" question at the end of the month.

    Small, but big changes I've made so far:

    • Coffee spending

    • Stopped buying lunch

    I saw myself slipping into the lifestyle creep since I am starting to make more money. I finally actually kept a budget for the month of November. I wrote down and tracked every dollar I spent and what I spent it on. Midway through the month I realized I was on track to spending over $150 a month on coffee alone. The little things really add up even though it doesn't feel like it when you spread it out over a month. Since then, I just buy the ground up coffee bean bags and use a reusable K-cup which should curb my spend in half! More so, I am not going to buy lunch any longer as I was spending upwards of $70 per week on lunch.

    These small, but impactful changes have helped me to save enough money within a single month to pay in full one of my student loans. It is such a relief and incredible rush of dopamine to see that PAID IN FULL receipt hit my inbox.

    My future changes this month in December are:

    • Maxing out the matching percentage for my 401K

    • Trimming "nice to haves" (gigabit internet speed, premium channels, etc.).

    • Getting a new job where I earn more. (Ha!)

    Thanks everyone for reading my self pat on the back for doing what I should have been doing ages ago. Fortunately, I am correcting the habit now, rather than later.

    submitted by /u/Gunny123
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    Worked at a job for 2 months and now I got a better offer from another job. How do I properly quit?

    Posted: 01 Dec 2018 01:43 PM PST

    I recently graduated university and was searching for my first job. I had an interview with Company #1 and they told me they would contact me later if I get the job. A few months went by and I heard nothing from them, so I assumed I was out of the running. In the meantime, I interviewed for Company #2 and got the job. I've been working at Company #2 for 2 months now and I just got a call from Company #1 with an offer. And the overall offer is better than what I'm getting right now.

    How should I let the company I'm working for right now know that I'm going to leave? They were all really nice and it was great working there, but I got an offer I can't turn down. It's an "at-will" state, so I can leave or they can fire me whenever.

    Should I let my manager know before I go to HR with a 2 week notice? What should I tell them in person and what should the 2-week notice say?

    Also, what are the chances they fire me on the spot after I tell them? Is there a difference if they fire me or I quit after 2 weeks.

    I've never left a job before or even worked at a job before this so I'm really clueless.

    submitted by /u/TooDeepForTheIntro
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    I’m opening my first Roth IRA and am intimidated

    Posted: 01 Dec 2018 07:53 AM PST

    So I'm 26 and this year would like to start a Roth IRA. I don't know if I will be able to do the full $5,500 (soon to be $6,000) each year, but with compounding interest I feel like if I don't star soon I will miss out. I have never done any sort of investing (besides a 529 college fund for my daughter) but a friend of mine who runs a private equity firm is selling all of his company's because he says a recession is coming. Is it bad that I'm putting in $5,500 right now into a Roth IRA for the 2018 year? Should I do something to protect that money once it's in the account until the stock market stabilizes? I don't know much about this stuff obviously but just want to make sure I'm doing the right thing before throwing $5,500 into an account. Any and all opinions are welcome!

    submitted by /u/frickencooldude
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    I’m 20 years old. How to start investing now?

    Posted: 01 Dec 2018 01:09 PM PST

    I'm about to graduate college and have no debt so I want to start investing ASAP. My degree doesn't pay the best so I know I need to be able to make money through investments but I have no idea on anything about it. I have no idea where to even start looking for ideas on how to invest. Is there any guides I can reference or advice here on where I can start?

    submitted by /u/xFarside
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    How to cope with feeling behind and just now getting started at 30?

    Posted: 01 Dec 2018 06:40 PM PST

    I see a lot of posts on here that generally say "Hi I'm a single 24 year old single male who just got my first entry level job at $325,00 a year and I paid off all my debt and am currently saying 90% of my income, any tips would be appreciated."

    I not only made crappy minimum wage money from 18-29 but I managed it poorly. I am finally at 30 and making a good salary over 50k and and getting a hold of things and just had my first month of putting something in savings. I know that when you come to a subreddit called personal finance you'll find people are super ahead and on top of things.

    In real life everyone around me is in the boat I was in just a month ago. They save nothing and eat out every day and have no plan. My girlfriend has over 70k in debt and has no plans or ambitions to pay it off. She just says things like she wants to enjoy her life. It's easy to feel like yeah everyone is broke because that's just how it is but you come here and it's just not true.

    I recently got off of all social media due to reading a book called Deep Work by Dr. Cal Newport and that really helped a lot. I still come to Reddit but I only subscribe to relevant subreddits that can help me in my goals. This place is inspiring but also depressing at the same time.

    I felt great about what I accomplished last month financially even though it's just baby steps compared to those who have 500k savings and 60k cash on hand.

    I have set the following goals to try to help keep myself looking forward to progressing

    1 month

    Save 700 out of 1000 to go into my Emergency fund
    Don't spend a single dollar on take-out, delivery, or junk food purchases. (I was spending $400-$1000 before each month)
    Do not add any new charges to my credit cards

    6 months

    Save $3500 for a very important trip this summer
    After saving the $3500 and having the $1000 emergency fund, aggressively pay off my largest card of around $6k

    1 year

    Be debt free. I have $25-30k depending on whether I count the car loan. I picked up a second gig which I can do at home after work which may or may not be long term and I hope to earn around $1k a month with. I will put all of this towards debt pay off. If I can pull this off I want to be able to write a nice post about how I did it and what helped / didn't help.

    ​

    ​

    ​

    submitted by /u/an_idiot_with_money
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    Credit Cards have all of these features like travel insurance and the lowest price match guarantees but what are useful and relatively easy to take advantage of?

    Posted: 01 Dec 2018 05:28 AM PST

    I feel like this would be so hard to take advantage that they are just not worth it. Prove me wrong!

    submitted by /u/es_price
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    Pay off debt collector or the hospital I originally owed the debt to?

    Posted: 01 Dec 2018 03:16 PM PST

    Car accident, forced to go to hospital, invoiced for all kinds of things i'm not covered for, story as old as time.

    ​

    I've let the bills slack out of laziness and the debt collectors have started sending letters, etc. Is it best to pay the hospital or the debt collector? My credit isn't great but not bad and trying to see if there's anything I can do protect it if possible.

    submitted by /u/iamamonsterprobably
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    I am worried I am in a bad spot financially and wondering if I can get an outside opinion/help on my finances.

    Posted: 01 Dec 2018 11:14 AM PST

    Monthly Income: $3250 after taxes

    Monthly expenses:

    Rent: $925

    Car Lease: $554

    Car insurance+Package policy: $155

    Tenant insurance: $34

    Charitable donations: $50

    Phone: $70

    Internet: $81

    Utilities: $80

    Banking fees: $15

    Gas:$280

    Savings: $500

    That leaves $506 for groceries and pleasures

    Current savings at $5000

    I am 28 and married no kids. My wife has a similar paying job with about $800 in monthly bills and $700 savings

    Should I be stressed about my situation or am I in an ok spot?

    Edit: Apologies I am in Canada which is why my phone and lease for this particular car and other expenses seem so high. Sorry for the confusion.

    submitted by /u/CNNrocks
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    Girlfriend's security deposit was returned by cashed by someone else?

    Posted: 01 Dec 2018 12:55 PM PST

    Hi y'all,

    My girlfriend moved to a new place the first week of September and has been in contact with her landlord to get her security deposit back from her old place.

    They said today, that the check was mailed and cashed by someone at Bank of America. Neither my girlfriend nor her roommate have a Bank of America account, and as far as I was aware, you have to endorse the check for anyone other than the person the check is written to to cash it.

    Since neither of them have a Bank of America account, how can they contact the bank to sort this out? Is this fraud?

    ​

    Thanks!

    submitted by /u/literatim
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    Just got a new job

    Posted: 01 Dec 2018 05:25 PM PST

    I am 15 and work part time at a grocery store making 10.25 before taxes and my family is kinda well off which makes my spending habits quite bad and would like to learn some saving ideas as I've heard many that don't seem to work for me

    submitted by /u/RadicalCheetoLover
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    Had an IRA in capital one 360 but now it's gone?

    Posted: 01 Dec 2018 05:07 PM PST

    My other accounts are under my user name but nothing is in my investing ira account.

    I think they moved to e trade or something but I can't sign on to e trade.

    Anyone else have this happen?

    submitted by /u/Nottheunicorn
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    21, college student, just got my first credit card... now what..

    Posted: 01 Dec 2018 11:03 AM PST

    Hi y'all, I actually got my first credit card in September and have yet to use it. I've had a debit card since I was 16 and started working, however I'm like weirdly scared of my credit card. You always see these horror stories about people my age abusing credit cards and going into debt and I don't want that. However, I do want to own property one day and buy a new car so I know I need to have earned some credit.. However, I don't really even know what that means. What's a credit score? Do I only use my credit card on big purchases (like $50 or more idk i'm broke)?

    tl:dr; how does credit work?

    submitted by /u/clubroo
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    Is there any sort of calculator that helps you figure out how to stagger long-term CDs?

    Posted: 01 Dec 2018 05:37 PM PST

    I have just inherited $72,000, and I want to put it in 3 year CDs, but I want to stagger it out so that $ $6,000 is capitalizing once every 3 months. Obviously if I just kept investing $6,000 once every 3 months for 3 years, I would get there, but for some reason I cannot wrap my brain around how to use shorter CDs to take advantage of those while I'm waiting for the next 3 months cycle to come up. Does any of this make any sense? Surely I can't be the only person who has ever thought about doing this...

    submitted by /u/cptaixel
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    Have a check over $10k to deposit. What happens?

    Posted: 01 Dec 2018 08:20 AM PST

    Hi all,

    I have a check to deposit, drawn on a business account, that I need to deposit. What requirements, reporting, etc. should I be aware of.

    I have every intention of claiming it on taxes, so no funny business here.

    Thanks.

    Update: Thanks for all of the help. Also, lol. I attempted to deposit this via mobile, and I have a $10k a month limit. Now I have to sit on it or go to a branch. Of course it's BoA (die in a fire) and the closest branch is a state away.

    submitted by /u/LosinCash
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    Rollover from previous job

    Posted: 01 Dec 2018 02:21 PM PST

    I've been reading this sub for awhile now and I see Vanguard is the number 1 recommended company to invest my money in. I have a couple thousand sitting in a 401k from a previous job. How do I go about opening a Roth IRA and moving that money into it?

    submitted by /u/inferno006
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    What fund is fundamentally more enticing for my 401k?

    Posted: 01 Dec 2018 03:01 PM PST

    21M, 32k salary 1st job. 6-8k 2nd job. roughly 10k/yr job 3&4. Hypothetically 50k/yr.

    1st job offers 6% match for 401k. Currently investing 10% from salary. The funds offered are: Vanguard Total Bond Market Index Fund institutional shares vanguard retirement savings trust III vanguard prime cap fund admiral shares vanguard inst total stock market index fund inst plus shares vanguard inflation-protected securities fund institutional shares target retirement 2015-2065 trust plus (currently invested in 2065 trust plus) vanguard total international stock index fund institutional PIMCO total return fund - institutional class DFA world ex us core equity portfolio institutional class shares

    Which one of these is best for a long-term 401k investment? Not afraid of taking a more risky approach as I am young and not risk-averse.

    Breakdown of where my income goes: 10% 401k 10% Crypto 10% s&p500 10% VTSAX 10% cannabis stocks 10% side business investments 40% travel/food/leisure/bills/car payment/real-estate savings

    submitted by /u/FitR2
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    Insane Credit jump after adding 1 credit card.

    Posted: 01 Dec 2018 07:31 PM PST

    I was at 656 and 641 with TransUnion and Equifax, and when I got approved for a Best Buy Visa card through Citi--Scores shot up to 691. I'm like damn, I of all people never thought I would reach near 700. I've always been a 500ish score kind ofva guy, but now I have evolved. Power of adding just 1 card is amazing. And these scores are with a 34% usage for the new Best Buy card. Imagine what 0% balance outstanding will bring. I have flung.

    https://imgur.com/a/ZpVVQuE

    It initially launched me up to 670, then 691 today.

    submitted by /u/Sulqia
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