Personal Finance Learn the basics of car maintenance, get involved with your car’s maintenance. Even if you don’t physically do the work, know what it takes to go from A to B... |
- Learn the basics of car maintenance, get involved with your car’s maintenance. Even if you don’t physically do the work, know what it takes to go from A to B...
- My mother was a victim of a fraud and Barclays UK refuses to return the money
- There’s no such thing as a “1099 employee.” If your employer controls where and how you work and how you get paid, you’re probably a W-2 employee and NOT an independent contractor.
- My car needs repairs but could buy another car for about the same price.
- Would you pay $300-500 more to live right across the street from work vs 20-40min public transport?
- My car payment was reversed, but I was never given the money back
- What amount of an annual pay raise from last year would I need to keep up with inflation?
- Inherited IRA from father who died over 5 years ago
- Making 3k a month (AUD), just finished high school and having a gap year for work. Don't know what to do with my income.
- How do I invest in index funds
- Just got my first real job offer in 2 years. Don’t want to offend them by countering, but don’t want to be underpaid since I plan to stay a while.
- Unsure on what to do now? 25, with 20k in savings.
- Just turned my life around, not sure what to do with income.
- What specifically does one learn in Finance?
- Am I supposed to negotiate pay when getting a promotion?
- Father Cancelled Insurance And Then Got Incredibly Sick
- My car was repossessed 3 years ago, and it isn’t on my credit report?
- Wells Fargo CC declined day after receiving, now I have to go in person to verify my identity?
- Is it even worth it to wait for her money or no?
- Getting my first non-home bank credit card? Getting married next year. Other small questions.
- Sudden move home to care for my dying father has left me broke & in debt.
- Has anyone used debt relief?
- My dad was diagnosed with terminal cancer and my parents have literally zero retirement savings and live solely off social security. I need to help prepare my mom for the inevitable.
| Posted: 04 Jun 2019 09:26 AM PDT Something I was never offered in high school and I wish I was, was a driving class that you got your hands dirty with. Luckily, I have some very mechanically talented family members who I've been able to walk through issues with. I have the ability to change my brakes or change the oil. Other than that, I'm not very useful with my hands, but I at least know some basics in terms of different parts on a car, what they do, how they help other parts function, etc. If you can get with someone you trust, watch them work on a car or have them walk you through how to do it yourself. I see it more and more now. Younger kids (and it's not just reserved to that age group) know absolutely dick about cars and it's not a good thing. Did you invest four digits into your car? Maybe you splurged and invested 5 digits. You bought a reliable Honda or a Subaru for $14k because you've heard good things and you want a car to last you for awhile. If you're willing to invest that kind of money into something you use every day, you need to invest the time to learn what makes the thing tick. Aside from knowing how to change a tire, you should look up resources online to see what makes the car go vroom vroom and not fek....feeeek....fekfekfek... Knowing something simple like the difference between drum brakes and disc brakes could save you asinine amounts of money at a later date. Mechanics appear to be increasingly shady these days and they can and will take you to the woodshed if you're not careful. My dad once had an issue with his suv... the mechanic said it needed a new engine. He took it to a trusted friend and it just needed a valve adjustment. Almost 7 years later and that car is still running. That's roughly $5-10k in cost compared to a $100-200 valve adjustment... When I was in college I got a routine oil change at a national tire and battery. Dudes told me I needed to have calipers put on my rear brakes. My brakes were drum brakes. Drum brakes don't have calipers. Knowing this simple factoid about brakes helped me save probably $300-500 and honestly who knows what the fuck they would have done had I let them work on my brakes. Again, if you have time time to search and purchase a multi thousand dollar car, then you have the time to do research and learn about what you're driving. Do it. You may find that you're actually mechanically inclines and enjoy working on your vehicle. It could save you a few bucks or maybe even a few thousand bucks. I can not recommend https://haynes.com/en-us/car-manuals enough. These guys write complete guidebooks and complete breakdown and repair of many models/makes of cars. You can quickly become an expert on what your car is by reading these. Sure you may not be able to do the work, but you'll know what makes your car tick and it will help you be a better informed consumer, especially when trying to find good mechanics for the more complex stuff. [link] [comments]  |
| My mother was a victim of a fraud and Barclays UK refuses to return the money Posted: 04 Jun 2019 02:17 AM PDT Hello guys, i am really in need of help. My mother is working in the UK, she has basic knowledge of the language , and recently someone stole from her account 4000 pounds. The transaction was made from her internet banking system. Before this, she received an sms from the bank stating : " thank you for changing your phone number" although she did not request that. At the time she was in medical leave at home, as she broke her leg. After going to the bank they refused to give her a statement with the transaction/s. Now , after the bank investigation they said that she was the one that made the transaction and no refund is necessary. What is to do in this case? The bank did not inform her on nothing about the investigation , only that the transaction was made by her which is not true. She did not request to change her phone number or nothing. thank you in advance! The bank is Barclay's UK (London branch) [link] [comments]  |
| Posted: 04 Jun 2019 05:32 PM PDT I see quite a few threads on this sub asking about taxes and pay as an "independent contractor" or "1099 employee" where the OP goes on to say they have a set schedule, set work assignments, and get paid at regular intervals. This IS NOT what an independent contractor is, and there's a good chance the worker in question is being misclassified as a contractor when they're in fact an employee. Employers misclassify employees as contractors in order to avoid paying payroll taxes like unemployment insurance premiums and the employer's share of FICA (Social Security and Medicare) withholdings. The misclassified workers also don't get the protection of worker's compensation or other employment laws. It's a rampant problem (especially in recent years), and any "independent contractor" should take a careful look at their business relationship. There are laws in most states that distinguish a true contractor from an employee, and the IRS has its own set of standards (see https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee). In a nutshell, being a contractor or employee comes down to how much control the business paying you has over your work and finances.
If you think you might actually be an employee based on factors like these, but are getting a 1099-MISC instead of a W-2 and are being treated as a "contractor," Please Report It to your state's revenue agency, unemployment agency, and/or labor department. You can also file Form SS-8 with the IRS, but the IRS is very underfunded/understaffed right now, so you may want to reach out to your state's agencies first. Your state can probably do an audit and then refer the findings to the IRS on its own. Worker misclassification is a HUGE problem that needs more attention. Businesses might save on payroll taxes by passing off employees as "contractors," but the misclassified worker gets all of the tax liability and none of the protections. tl;dr – Employees get misclassified as "independent contractors" all the time. Know the factors and report it if you think something's amiss. [link] [comments]  |
| My car needs repairs but could buy another car for about the same price. Posted: 03 Jun 2019 10:56 PM PDT So today I was going to get my brake pads changed because they were squealing and I didn't feel like changing them myself because today's my only day off. Turns out over time there were problems with the discs that the dealer told me when I got the car that the problem was nothing and I would be completely fine the way it is. Turns out the rust and problems the discs had have led to holes being put in my discs and causing pretty much every part of my brakes on all 4 tires to need to be changed. I was quoted that it would be between 750 and 1000 dollars for parts and labor. My current job is I'm a delivery driver and I have to work tomorrow so I can't just try and do it myself tomorrow and no one can cover shift plus I really need the money but don't want to drive on the road with an unsafe car any longer. if I could I would just trade the car in towards a new one but I still owe on it about what the car is worth. I'm 18 with little to know credit built up as well and can't really afford 2 car payments a month. I already planned on buying a cheap Honda Civic from a friend later this month to use as a delivery car but I can't wait that long now nor would I have the money after this repair, as well as I would be having to decide what bills to pay and what I can live without this month and probably live off ramen. Neither of my parents has the money to help me either nor do either have a spare car or be able to lend me theirs for this week. The last option I have is my grandma is talking about me and her putting money towards a truck because she wants me to have one to help her out by moving stuff for her and helping her clear out her house so she can move but don't know if it would be best to just go buy a truck tomorrow and hate having to ask her for anymore help than she has already given me. I'm trying to weigh my options and decide what to do tonight if anyone has any advice to give it would be very appreciated! Edit 1: it's an 08 mustang, and hoping tomorrow to be able to take it to a family members shop so I can assess the damages myself. For tonight got an hour or so before work asking around about borrowing a car for tonight. [link] [comments]  |
| Would you pay $300-500 more to live right across the street from work vs 20-40min public transport? Posted: 04 Jun 2019 06:59 PM PDT I got a job offer in the loop of Chicago of 75K pre-tax, and I found a pretty spacious studio directly across the street for $1500. It's in a huge apartment complex and very safe from my understanding. I was told the area is boring and the building doesn't have many full-time residents (more like a hotel). I am not aware of any monthly fees outside of the 1500 rent. I do have a car and garage parking is 200-300 per month, but I can leave the car at my parents' house in the suburbs. I am also considering areas outside of the heart of downtown, say a 20-40 minute commute by public transportation. The apartments 20-40 minutes out are $300-500 cheaper with more sqft per $, but less secure. I would move in mid-August and I'm having trouble finding apartments available at that time; I think I would have to wait but that may mean missing out on the studio across the street. Does the studio option cost too much for my income? Is it a better option to wait and see cheaper apartments with a 30-minute metra ride? (Also open to recommendations on where to look for apartments in Chicago. Safety is the largest concern.) [link] [comments]  |
| My car payment was reversed, but I was never given the money back Posted: 04 Jun 2019 12:30 AM PDT I just bought a car a couple months ago, and I paid the first payment in double, just to be ahead. It went through fine, my due date was now a month ahead though, which was not what I wanted. I called and asked if I could make a manual principal reduction payment, as I would like to pay off the car as soon as possible and don't want the due date to just keep extending. My bank was charged and the payment was accepted, but it was later reversed. I figure my contract must not let me be too ahead on my payments or something, and my loan balance went back up after it was reversed, but I was never refunded for that payment (it was 410$). Is that money gone? What should I do? I bought the car through TOYOTA financial services Edit** The payment was reversed on May 14th, with no reason stated nor was I told it was reversed until I went to make my next payment and checked my payment history (June 3rd) [link] [comments]  |
| What amount of an annual pay raise from last year would I need to keep up with inflation? Posted: 04 Jun 2019 03:50 PM PDT My understanding is that if my raises don't at least match inflation, I have effectively lost money. For the last year, I have made $16.25 an hour. How much would I have to make just to break even with inflation? [link] [comments]  |
| Inherited IRA from father who died over 5 years ago Posted: 04 Jun 2019 12:28 PM PDT I've tried to research this online, but it's difficult to search for and I don't understand the options and feel like I might screw something up easily. My father died in 2012 in his 40s. While a teenager at the time, I'm in my 20s now and just got control of his IRA that he left me. Most articles I've found seem to assume that the person who died is past retirement age, or it hasn't already been 5 years. What are my options? [link] [comments]  |
| Posted: 03 Jun 2019 11:51 PM PDT I finished high school about 5 months ago and am planning on going to uni next year, or the year after. (Uni is free as I'm moving to NZ for Uni and I'm a Kiwi citizen). I'm making just above 3k (AUD) a month, after tax and superannuation, and don't know what to do with it. Any advice would be much appreciated. [link] [comments]  |
| How do I invest in index funds Posted: 04 Jun 2019 11:14 AM PDT Hi reddit users, I for whatever reason cannot get a solid answer from anyone on how to invest in index funds. What I mean is, how do I allocate my funds? Do I invest 100% of my funds into a fidelity or vanguard index 500 or do split it up by into different sectors of index funds like technology, telecommunications, healthcare, etc. because investing 100% into just one index fund seems too aggressive/risky. I hope I am making sense. Can anyone share how their portfolio is allocated by fund and %. Thank you! [link] [comments]  |
| Posted: 04 Jun 2019 04:12 PM PDT Hey folks. Been working as a Project Manager in a major city for a few years. Moved to a smaller major city 2 years ago. Have been getting offers back in my old city, but nothing here. Finally got a real offer here. It's a professional step up to a more senior title. They offered me about 5k less than I used to make in the major city. The COL is lower, but not by much and it's rising quick. I got the distinct feeling that I went low when I gave them my salary request. People in my position should be making $100k, I got offered around $80k. Can I counter? And if so, how much? They know what I made before. I don't want to throw them off and lose the offer, but I also don't want to be underpaid after looking for a job for so long. [link] [comments]  |
| Unsure on what to do now? 25, with 20k in savings. Posted: 04 Jun 2019 08:13 AM PDT I am 25, bachelor 700 credit score with one credit card Zero Debt Make 60k a year Expense around 1,500 a month for rent and bills 20K in savings 7% contribution to a 401k Just looking for general advice on what to do now. Should I continue savings, try investing, buy a house? [link] [comments]  |
| Just turned my life around, not sure what to do with income. Posted: 04 Jun 2019 04:14 AM PDT Hello everyone, long time lurker here. So a little over a year ago I decided to get focused and turn my life around. I went from making $10 an hour in June 2018 to just shy of $50,000 annually present day in a field with tons of potential growth. I'm currently 24 years old in the South Florida area; other than my cellphone, car insurance, car payment, and internet, I have no bills. These amount to a total of $470 monthly. I intend on aggressively paying off the remaining $7,800 on my car loan, though I'm not sure how best to invest my income going forward. With the ultimate goal being comfort and efficiency, what should a financially illiterate person so with their money? [link] [comments]  |
| What specifically does one learn in Finance? Posted: 04 Jun 2019 06:00 PM PDT I would love to ask for a consultation from finance-savy individuals, especially those that have gone through business school/studied business. I very much appreciate your time and convenience in advance. [link] [comments]  |
| Am I supposed to negotiate pay when getting a promotion? Posted: 04 Jun 2019 01:57 PM PDT I know that you negotiate when applying for a new position, but am I supposed to negotiate my salary when I get a promotion, or just take what they offer? My bosses are taking me out to lunch tomorrow, and I have it on good authority that I will be receiving a promotion soon. Also, any advice on the amount or how to broach the topic would be great. [link] [comments]  |
| Father Cancelled Insurance And Then Got Incredibly Sick Posted: 04 Jun 2019 05:37 PM PDT Some backstory. Kept as brief as possible. For reference this all is happening in Texas. My father has been living with liver disease for a couple years now. Without warning he cancelled his insurance from his employer in January. Then on Sunday he gets admitted to the ER and has been on a whirlwind of treatments, procedures, and medications since then and there is not an immediate end in sight. My questions are: What can I as his son do to help? How should we approach this with the hospital? Are there organizations that can assist with his situation? Is there anything his employer can do (they seem receptive as it is a family owned business and we have spoken to them)? I am desperate for anything I can try because I am genuinely worried for what lies ahead for my father who has traditionally been incredibly cautious with his money, almost to a fault at times. I fear he made this decision in a state of mental and physical pain, was too stubborn to get help, and essentially self-destructed. Thank you for your time and advice. [link] [comments]  |
| My car was repossessed 3 years ago, and it isn’t on my credit report? Posted: 04 Jun 2019 07:42 PM PDT Title. I wanted to post here to verify I'm even checking in the right places. I'm on Credit Karma and it only shows one closed out account and it's for something totally unrelated that happened years ago. I'm looking at getting a new vehicle soon and I just wanted to be prepared for what the dealerships may see before going in. Is there somewhere I can check other than credit karma to see if it's there? [link] [comments]  |
| Wells Fargo CC declined day after receiving, now I have to go in person to verify my identity? Posted: 04 Jun 2019 07:40 PM PDT I helped my mother open a credit card with Wells Fargo. She has great credit so she was instantly approved and the cc came in yesterday. After 3-4 purchases the card stopped working. My mother called them and a rep said you have to prove your identity at the nearest wells fargo office. The closest one is over an hour away, so the rep said she could go to her bank and verify her identity there. The rep also wasn't able to disclose why any of this happened. So tomorrow my mother is going to go and verify her identity. Does anyone know what this possibly is all about? I never heard of something like this. It's pretty vague, but does anyone have a similar experience? [link] [comments]  |
| Is it even worth it to wait for her money or no? Posted: 04 Jun 2019 07:13 PM PDT So my mother-in-law passed away last week and didn't leave any will. She has money enough to cover her funeral but we found out my husband (her only son) has to go to a probate lawyer and do court trials or something to get the money. Is it worth it to go to that process? The money is around 14k. She has a lot of credit card debt, doesn't have insurance both medical or life. Any advice is appreciated! The money would really help to cover for her funeral or we will end up paying for it. We don't have any money for that but we will find a way. [link] [comments]  |
| Getting my first non-home bank credit card? Getting married next year. Other small questions. Posted: 04 Jun 2019 07:10 PM PDT Hey everyone, first thanks for all the work on the wiki, it's helped me a ton. One of my goals for 2019 is to really start understanding and leveraging my finances. I currently have zero debt, a good (700+) credit score, and a ~$70K+ stable income. My first credit card I got was ~4-5 years ago through my home bank, Wells Fargo, and have never used anything else. Almost every transaction I make goes through the card. I feel I've been leaving "money on the table" (or points). I have a wedding coming up in Q4 of 2020 (although I won't spend money I do not have) and see getting a travel base rewards credit card would be a great way to help with the honeymoon. I tend to spend most of my flex income on restaurants, travel, groceries, live events, and general shopping. I don't have kids. I've been eyeing Chase Sapphire Preferred due to all the positive things I've read for it being a rewards card for travel. Does my situation and spending habits seem inline with getting that card in particular? Or do you think another would be better? A few other small questions:
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| Sudden move home to care for my dying father has left me broke & in debt. Posted: 04 Jun 2019 06:58 PM PDT In November 2018, I had to quickly relocate from Hawaii to Southern California to assist with my father's end of life care. He only 57 but is suffering from a very rare and fast progressing form of dementia so this diagnosis was very unexpected. He now requires full-time care from my mom, sister, and myself. This sudden move drained my savings and left me without a job. I'm currently doing what little freelance work I can find to help make ends meet but, without the salary I was making in Hawaii, I've become unable to pay off the large amount of debt I was working to pay off earlier. Currently, I have $20k of debt from moving, medical costs, school, and stupid life decisions when I was younger. My two credit cards are at a 16.9% and 25.24% interest rate. I also have two loans at an 18% and 15.45% interest rate. I earn around $3,200/mo from my freelance work currently but am finally in a position to (hopefully) secure a full-time job that will allow me to earn more. My expenses are minimal - $675 for rent and $540 for other expenses (phone, gas, insurance, and groceries). I've been very overwhelmed with the stress of my finances on top of dealing with my father's declining health. I'm 25 years old and, frankly, it's downright embarrassing knowing I put myself in this situation. I'm not sure where to go from here...if I even have any other options other than bankruptcy. Would be MOST grateful for any advice you all might have for me. [link] [comments]  |
| Posted: 04 Jun 2019 06:52 PM PDT I have over 26k in debt. I am a single mother and get no child support. I live in SoCal so cost of living is quite high. And I was simply irresponsible when money was good. I am a student and I lost my job in January. I'm going back to work part time but even when working full time I was living paycheck to paycheck and only able to pay the minimum, which sometimes could be as high as $150/month. I've blown through my savings recently as well but have never fallen behind on payments. When things were going well I took out consolidating loans and then ended up in the same spot with credit card debt anyhow. At this point my credit is shot anyway, even with on time payments. Part of the debt relief program is to stop payments on all my cards and start putting money into a separate account while they negotiate lower terms. I thought payments would go from $1k to about $500-600 (which includes a debt that won't be part of the relief). I have read some good reviews and some terrible reviews. Has anyone done this? Is it worth it in my case. [link] [comments]  |
| Posted: 04 Jun 2019 11:18 AM PDT As the title states, my dad was just diagnosed with pancreatic cancer, and I am doubtful he will be able fight it for long. My dad already had a couple debilitating strokes which left him with permanent extremely slurred speech and mobility issues. Sometimes he needs to be lifted out of the chair or has issues getting to the bathroom. Geting him anywhere outside the house is a huge ordeal. He has a nurse and physical therapist who come to the house weekly paid by Medicare, but he refuses to do the exercises and life changes he needs to implement to improve. He gets up and watches TV literally all day. His health is failing fast. Let me preface that I do not have a healthy or positive relationship with either of my parents. My boyfriend and I are temporarily living with my parents. We both work full time with a 2.5 hour round trip commute. We help out when we can but we're going to move out this year closer to our jobs. My mom has BPD and is an extremely abrasive person to work with. Both my parents are toxic people, driving away other family members and they both do not have friends. My boyfriend and I are basically my parents' only support system. At this point I know it's a just a matter of time my dad will require intensive care. Unfortunately, my parents have no retirement savings. None. Both of them rely soley on social security checks due to poor financial decisions such as my dad cashing in on his 401k to pay for my sister's private out of state college (who ended up estranging herself from the toxicity of my parents). They both retired with no savings and debt, including debt accured from financing a new fence and gutters. My mom is pretty much handling the finances at this point and I have little knowledge of how far in the hole they are. They've already declared bankruptcy once ten years ago after wracking up 50k worth of CC debt. You get the picture. I'm trying to plan ahead for the inevitable. I am not in the position to assist financially. I make 34k gross, recently finished paying off student loans and a car, and have 3.5k in cc debt to finish up. I built up a 1k emergency fund and am looking to start the next chapter of my life, moving out debt free. I'm scared about what will happen to my mom in the event of my dad's death. She will probably have to work again as she can only collect one social security check ( my dad's). My mom also let my dad's term life insurance expire without renewal, leaving him with nothing. My mom is looking at uncovered hospice and funeral expenses as well as medical bills. My mom keeps saying she has 50k of equity in thier home she wants to take out, but that's thier only lifeline. My dad also has no will. I don't know where to begin to help prepare my mom for the inevitable financial chaos ahead. I don't know what I can do. [link] [comments]  |
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