Personal Finance What I wish people told me before I got $16,000 in CC debt |
- What I wish people told me before I got $16,000 in CC debt
- My most expensive credit card debt is at 0% until it’s paid off, and you could have it too.
- 20 years old and in $46k debt worth of medical bills
- Wifes new employers is stating their payroll processing (ADP) can't withhold SS taxes
- Long term preparations for early onset dementia.
- Should I take a 23k pay cut for the sake of my sanity?
- I'd like to make a donation to a private business so that they can donate it charitably to individual customers (at their discretion). Is there a way that I can do this and still deduct the donation from my taxes?
- Is there a budgeting app that allows me to add my paycheck as the income and then distribute that income into "envelopes"?
- High Yield Savings Account jumping
- How can collection agencies get their money from the debtor?
- Is there a reason to NOT refinance private student loans?
- Mom Received Settlement Money - I'm Concerned She's Making a Bad Investment
- 22 and just got offered a job at a tech startup. Should I try to negotiate less salary for more equity in the company?
- Been putting wrong SSN on all credit card applications !?
- Help evaluating my current financial situation and steps to increase wealth
- Leaving full-time job for 2 part-time jobs, how to handle health insurance?
- Salary negotiations - what to do with an offer limited by "internal equity"
- Wells Fargo allows you to create guest users for 3rd party view-only access to your account (Doesn't work with Mint)
- I hit a parked car while biking, broke his tail light cover, caused a few tiny scratches, and am 100% at fault.
- Bringing money into the US
- i’m 17, graduated, and I don’t know what to do.
- Sweetwater CC issue (Synchrony bank)
- Divorced and suffering for it.
| What I wish people told me before I got $16,000 in CC debt Posted: 27 Jun 2019 08:51 AM PDT Quick background. I got my first credit card by accident. I thought I was filling out a "loyalty card" at Cabelas. Ended up being a line of credit. I was 23. 4 short years later and married with a baby girl, I find myself with $16,000 in credit card debt. I actually saved my very last dollar and have it taped to my steering column in my truck. And when I say last dollar I truly mean it. We had negative balance in the bank and overtaxed all our cards. Less than two years later, we now have $16,000 in savings and no credit card debt. (We finance one of our cars) Credit card debt is crippling. My dad calls it the ULTIMATE SLAVEMASTER. It forces you into depression almost by default and controls every aspect of your life. Here's my list and I hope it helps you. I'm no guru, I just learned the hard way.
These are just some of the silly things I picked up along the way that I think would've helped me stay out of the mess. We are so happy now that we worked our butts off to become financially stable. I hope this helped! EDIT: So many awesome comments! I understand these are basic tips and not hardcore financial advice. So please leave your advice, even if you disagree with my tactics because there's a lot of comment lurkers who are scanning for more advice, so keep all the comments coming! [link] [comments]  |
| My most expensive credit card debt is at 0% until it’s paid off, and you could have it too. Posted: 27 Jun 2019 04:07 PM PDT I had open heart surgery at the age of 38. I have 2 citi cards, both maxed out. One with a $9k debt and one with a $3k debt. When I was in the process of preparing for surgery, I contacted citi card services and spoke to a CSR. I explained my situation and asked if there was anything they could do to help me. First they offered to "let" me pay a fixed number for 6 months. The fixed number was what my minimum payment was anyway with the card maxed out. Not helpful at all. So I said as much. Then, the CSR came back with another offer. Pay a fixed amount ($147) every month at 0% interest for 5 years until it's paid off, and I can pay it off early. You bet your butt I took that offer. I can still charge on the card, but that wasn't smart so I destroyed it. Now 100% of the payment I make to the credit card go to the balance, and then my only credit card is under $3k. My point is that it never hurts to ask. Also, they never asked for any proof of my "situation", they just gave me the 0% rate, so take that info however you want to interpret it. [link] [comments]  |
| 20 years old and in $46k debt worth of medical bills Posted: 27 Jun 2019 04:53 PM PDT Hi all, I seriously feel lost right now. Besides my girlfriend of 2 years breaking up with me out of nowhere, I'm also in debt $46k worth of medical bills for appendicitis surgery that happened in April. I have no insurance and the total is $46k. I also owe $3500 in court fees for a dumb decision I made in January. Safe to say, 2019 has been horrible and I feel like life isn't even worth proceeding with. I currently work in landscape full time and make $10 an hour. My biweekly check is typically $750 and I have zero savings. I have no rent to pay since I moved back in with my mom after the surgery happened. I pay $350 a month for car insurance and no car payment. My main priority is getting those court fees paid off ASAP so I can have these charges dropped and hopefully join the military because I feel like that's my only way out of this hole. The medical bills are still a worry because I could've gone to college and gotten a masters degree for the debt I'm in. Any advice would be great. I feel lost and hopeless right now and I don't know what to do and kinda wish I just left my appendix in me even if that resulted in death. [link] [comments]  |
| Wifes new employers is stating their payroll processing (ADP) can't withhold SS taxes Posted: 27 Jun 2019 05:27 PM PDT Wife maxed out SS contributions for the year back in May, new employer is stating they have to take it out per ADP, and she has to file for the refund at the end of the year. Seems like bs to me ... what do you all think? [link] [comments]  |
| Long term preparations for early onset dementia. Posted: 27 Jun 2019 08:47 AM PDT I have a friend (53) that has been diagnosed with early onset dementia. He has no family in the country and is not married. He is currently on long term disability but in two months will be losing his work provided health insurance. I wanted to talk to him about things he should work on now to prepare for the long term, like sitting down with a financial adviser and/or making a will. What things should he be starting to prepare for now? [link] [comments]  |
| Should I take a 23k pay cut for the sake of my sanity? Posted: 27 Jun 2019 05:04 PM PDT Hi reddit, As my post title states, I'm considering taking a dramatic pay cut for the sake of my mental health. I currently work in NYC making 74k/year at a union job. The job itself is manageable, but the work environment is toxic and my supervisors are constantly micromanaging everything we do. I have been at this job for the past 5 years and the stress has caused me to lose significant weight (without trying to) and even hair. I also have to commute 1 hour and 20 minutes on the subway (one way) to get to the job. I was offered a job in the private sector making 51k/year but it comes with guaranteed OT opportunities and holiday bonuses. A friend has worked at the company for the past 2 years and is very happy with the work, the environment, and the supervisors. The commute to this job would be 45 minutes on the subway (one way). I'm heavily considering the career switch but I'm concerned about how it will impact my finances long term. I currently own an apartment and owe about 130k on the mortgage. My take home pay at my current job is $3,100/month. My current monthly bills work out to: -Mortgage payments and apartment maintenance fee - $1,300/month. -Internet - $80/month -Phone - $35/month -Electricity - $70/month ($160/month in the summer) -Groceries - $200/month -Fun/going out - $250/month -Metrocard - $127/month The rest of my money automatically goes into my savings account. I have a separate emergency savings account with $33k in it that I don't touch. What would be the best decision here? What would you choose to do? [link] [comments]  |
| Posted: 27 Jun 2019 06:30 PM PDT There is a grocery store in my hometown that still operates on the 'account' system for some customers. So if you're a regular, you can open an account and the cashier bills your order to your account then you pay at the end of the month. What I'm planning to do is to open an account and prefund it with $1,000. Then have the cashiers use that account to pay the extra when people are short on their tab. (It is an 'everybody knows everybody' type of town, so it will be pretty easy for the cashiers to evaluate who needs it. I'm not worried about the plan being ineffective at actually helping people). Is there any way I can deduct this from my taxes? What's actually happening with the donation is the same as if a 501c3 were involved, but there just isn't one involved. [link] [comments]  |
| Posted: 27 Jun 2019 02:48 PM PDT I think goodbudget is the closest to this but I don't like that everything still revolves around a monthly envelope. Can I just have envelopes that are not time-based and add/remove money as I please? This is also why I don't like using Mint despite all the other cool features it offers. My income is not consistent between internship and school year and some budgeting money on monthly income can become inconvenient/difficult. [link] [comments]  |
| High Yield Savings Account jumping Posted: 27 Jun 2019 04:16 PM PDT So just got notified that my HYSA is dropping APY (marcus). I didn't get any perks for joining and I can't find any disclaimer saying I can't jump in a certain time period, I know some do, but theres no reason I can't just move to a new bank right? chase a higher APY? [link] [comments]  |
| How can collection agencies get their money from the debtor? Posted: 27 Jun 2019 08:00 PM PDT I have a collection agency on me right now. They have been calling me once / twice a day now. Is it getting annoying? Yes. What will they do next? How do they go about collecting debt? [link] [comments]  |
| Is there a reason to NOT refinance private student loans? Posted: 27 Jun 2019 07:54 PM PDT I've got ~$36,000 in private student loans, payments start in Sept. Navient & Sallie Mae rates are 9.75-11.5% across 7 loans. Looking at Ernest, based on few min of searching and their soft credit check, I can get 5.16 - 6.3% rate. Is there any reason why I should NOT go with this option? Edit: I make over 6 figures. I'm not going to qualify for most income based options. I've just been retarded with money and am trying to unfuck myself. [link] [comments]  |
| Mom Received Settlement Money - I'm Concerned She's Making a Bad Investment Posted: 27 Jun 2019 10:20 AM PDT Long time lurker, first time poster. This will be a bit of a long post, but I want to present the full picture. Some background information about me: I'm 26 years old, only child. My husband is very supportive of my family, and wants to do what he can to help out. We just paid off my student loans, and are currently saving for 3 months of emergency expenses. Our focus will then shift to paying off his student loans of $12,000. We currently make about $60,000 a year combined, and while we're both working to increase our income, we don't want to bank on that happening unless we get concrete job offers. Money has been rather tight for us these last few years, and will continue to remain so until we finish paying down the debt. Some background information on my mom: She received $150,000 worth of settlement money from her divorce in March. After taxes and paying off all her debts, she currently has about $75,000 left. As far as I'm aware, it's simply sitting in her checking account right now. At 65 years old, she has no other savings, and she only makes about $1,000 a month outside of social security. Currently, she lives in a HCOL area, which she'd originally moved to due to my step-dad's job. When they separated, she couldn't afford to move out of the area. She is currently paying $1,000/month plus utilities on a rather run down house. I've suggested that she find a full time job in a LCOL area, invest some of her money in a high yield saving's account at the bare minimum, save for a year or two, and then think about buying a home or, simply, continuing to rent. She absolutely doesn't want to work full time (which, while I don't blame her, I don't believe she can afford to do). Her two potential plans are as follows. Plan #1: Funnel most of the settlement money into a mobile home in a park somewhere. Her thought process is that she'll be in a home that's paid off, and that way she'll only have to pay for the space rent (which often includes utilities). Then in a couple of years, she can sell the mobile home for more than she paid for it. Plan #2: Move down to where my husband and I live. Pay the down payment on a stick home. We'd move in with her, and help her pay mortgage/utilities/what-have-you. In a few years time, we'd sell the home for profit. My husband and I are hesitant about this for a large number of reasons, both emotionally as well as financially. Homes cost a lot, and we wouldn't feel comfortable going in on a home with her with our current level of debt-to-income ratio and her only working part time. Nevertheless, it's an option she's put on the table for us to think about. I simply want her to invest her money wisely. I'm wary of her jumping into any form of down payment on any form of home, or putting most of her money into a mobile home, when she makes so little. TLDR: My mom received $150,000 in settlement money. After taxes and paying down all of her debt, she's left with about $75,000. She has no other form of savings. How can she invest it wisely? Currently, she's absolutely focused on buying a mobile home in a park for resale in a few years time. I'm concerned that it's a bad investment. [link] [comments]  |
| Posted: 27 Jun 2019 07:19 PM PDT I just got offered ~$100,000/year base salary at a tech company (in a very low cost of living area), but only $16,000 worth of stock options with a 4 year vesting period. Given that I'm only 22 and this is a very fast growing tech startup should I try to negotiate my salary down in exchange for more equity in the company? The cost of living here is minuscule (I only pay $600/month in rent) so I can certainly live off less than a six figure salary (unlike in say silicon valley). The other problem is they'd like me to start next week, so I don't have much time to negotiate. Any advice would be appreciated. [link] [comments]  |
| Been putting wrong SSN on all credit card applications !? Posted: 27 Jun 2019 12:10 PM PDT So I'm 19 and have 3 credit cards. I've been off by one number for all 3 credit cards as I just realized today. Now I'm freaking out because someone said I've been committing fraud. Now I'm worried that I have and will have to serve jail time for a simple screw up. I've always thought it was a different number because of the faded number. Should I call the credit cards and try to explain or just go to social security? Please help no one in my family is being of any help in this situation. [link] [comments]  |
| Help evaluating my current financial situation and steps to increase wealth Posted: 27 Jun 2019 07:13 PM PDT Current Situation: -Age: 24 -Education: M.A. in Urban/City Planning --Debt: 0 (Grateful parents paid for my education) -High Yield Savings Acc: $26,000 for 5 years, 2.96% Monthly Dividend Rate -Regular Savings Acc: $5,000, 0.10% dividend rate -Charles Schwab Brokerage Acc: $9,000 (down $238 but invested in tech, retirement, medical, weed, and renewable so I see it growing) -Roth Ira: $13,500 (can add $500 to max it out) -Employment: Unemployed (on unemployment) since March. $1800/month untaxed -Side gig income: ~1000/month cash -I was laid off my previous employment, making $60k gross. Obviously I'm trying to get back into the workforce and I enjoyed what I do. -Expenses: ~100/month on social/food. ~$200-$300 on misc. --live at home, eat at home, parents are generous enough to pay for gas while i'm unemployed. My goal is to have saved enough money by the time I'm 30 to be able to afford a nice house in the SoCal Region and hopefully retire early. My plan on achieving this is: -Max out Roth IRA every year. -Save up $26,000/year and throw that into another High Yield Savings Acc. (26k for 5 years, 26k for 4 years, 26k for 3 years, etc) -Live at home if job location permits -Live frugally, but not be a penny pincher. Any input would be greatly appreciated. [link] [comments]  |
| Leaving full-time job for 2 part-time jobs, how to handle health insurance? Posted: 27 Jun 2019 06:53 PM PDT 26F, US. Will be insured through all of July, as my last day at my current job will be July 5. I'm leaving my job for a part-time position in my desired field (I applied to several full-time roles in that field but was repeatedly told I needed more experience). Most likely, the second part-time job will not have health insurance. Since I've always been on my parents' insurance or worked at a full-time job, I'm not sure what the best course of action is. I'm not sure how long I'll be at the part-time job, definitely less than a year but possibly only a few months. Current job is at a small nonprofit so I'm not sure if COBRA is an option. Was just going to start an application at healthcare.gov, but don't want to go in blind. [link] [comments]  |
| Salary negotiations - what to do with an offer limited by "internal equity" Posted: 27 Jun 2019 06:35 PM PDT Well, I'm pretty inexperienced in the world of salary negotiations and could really use some advice. TL;DR: recently graduated, internship trained veterinarian in the non-profit sector told that a higher salary could not be offered due to "internal equity." I am a veterinarian who graduated in 2018 and am several weeks away from completing a year long shelter medicine and surgery internship in a HCOL city in the pacific northwest. I have approximately 120K in student loan debt and have completed 1 year of 0$ payments toward PSLF during my internship (salary $31.5K). No other debts, very minimal savings. I have received an offer from a shelter in a significantly lower COL area in a quickly growing, medium sized city (median housing price has risen from ~$210K in 2014 to 320K now). Prior to receiving an offer, I researched salaries using the VIN (veterinary information network) salary calculator, which takes into account years of experience (1), sector (non-profit), and area (state). With this information input, the 75th percentile wage for someone in my position would be roughly $80K/year. Given that the salary calculator is for the state overall, and the position I'm looking at is in one of the more HCOL areas within the state, I figured roughly $80K (~$38.50/hr) is a salary I could be content with. I also tried using glassdoor, payscale, and indeed - but the ranges I got for salaries using these sites varied pretty widely and often didn't take into account the non-profit sector. The offer I received is $35/hr, 96% employer paid health insurance, dental and vision insurance, up to 5% company match 401K, reasonable PTO, 7 paid holidays and 1 floating holiday, reimbursement for up to $2,500 and 5 paid days for CE every 2 years. While I am reasonably happy with the benefits offered, I felt the pay ($72,800 per year assuming a 40hr/wk) was low. Given that veterinarians rarely work as little as 40hrs/wk, I understand I may be underestimating slightly, but my feelings still stand. I countered with $40/hr, or slightly more than the $38.50/hr I felt I would be willing to accept. My reasoning (in a nut shell) was that I have undergone a year of intensive training in shelter medicine and surgery (shelter medicine and surgery internships are fairly new, the year I applied there were 16 shelters offering them, the year prior only 8 had been listed on the veterinary internship and residency match program), and that this training has given me significant expertise in population management and progressive practices which reduce length of stay and improve the welfare of shelter animals. Only one of the ~6 or so veterinarians currently employed at this organization have formal training in shelter medicine, and that veterinarian is relatively new, so there is still a significant need to implement better / research based practices at this organization (that was not included in my argument). I did also mention that researching salaries in the area contributed to my figure. I also asked if there was any relocation stipend. The response I received was "in regards to the rate, we can increase it to $36/hr, but cannot go any higher at this time without compromising internal equity. We are a nonprofit organization, so comparing our rate to other for profit veterinarian rates does not always match. We can offer you $1,000 for relocation." This response struck me as very strange; I'll admit I didn't expect to get exactly what I'd asked for, and I assumed the reason would be that it simply wasn't in the budget. I was not expecting the answer to essentially be that it would be unfair to pay me more, because (I'm assuming) other veterinarians working there accepted a wage of $36/hr. To my knowledge, it's generally frowned upon to argue that you deserve a particular salary based on the knowledge that someone else earns that amount - and it seems like this was essentially their argument in reverse. It feels like I am being limited by the fact that other veterinarians did not negotiate for a higher salary. My internship is over in a few weeks, I really like the area this job is in, and my interest in pursuing a career as a shelter veterinarian means that job opportunities are significantly more limited than if I was interested in private practice. I know that I'm not in a strong position to negotiate or walk away. Basically I'm willing to accept this low paying job, but know that (especially given the rapidly rising COL in the city) I will be looking for another job within 1-2 years max. I'm basically wondering how to respond to this "internal equity" issue, if it is even worth countering with a slightly higher number given their insistence that they cannot go higher, or if it's within reason to inquire about the potential for future raises vs if my salary will always be capped by what other veterinarians are making? Any advice on how to diplomatically respond to this issue, or ask for more clarification regarding this policy, would be greatly appreciated. [link] [comments]  |
| Posted: 27 Jun 2019 06:16 PM PDT Wells Fargo just sent out changes to their electronic access agreement, so I thought I would try to find out how much trouble I would be in if Intuit Mint gets hacked. Instead, I found that you can create guest users of your account. Go to "Security & Support" and select "Use Account Access Manager" Unfortunately, it gives an error when I try to use it with Mint. But perhaps it might work better for other programs. [link] [comments]  |
| Posted: 27 Jun 2019 05:45 PM PDT As the title says, I am 100% at fault. Luckily no injuries to myself as I swerved mostly out of the way at the last second. He went and got a quote for ~$300 ($200 for light and scratches and $100 for 2 hours labor). I've done some research into what renters insurance covers and it doesn't look like this would help because it's his personal property. I recently moved and I currently don't have renters insurance, so I'm not even sure if some place would accept me if I'm just going to file a claim potentially. Really stuck on what I should do. Any advice would be greatly appreciated. Bike just had the grip on the right handle bar ripped up and a few scratches on the handle bar frame. [link] [comments]  |
| Posted: 27 Jun 2019 04:10 PM PDT If you want to bring in a large sum of money ($1,000,000+) into the us for investing from the EU which a tax of 25% has already been paid in the country of origin, do you still have to pay the 37% on income tax in the US as a citizen? [link] [comments]  |
| i’m 17, graduated, and I don’t know what to do. Posted: 27 Jun 2019 07:54 PM PDT Hi Reddit. I came on here looking for advice. So for the past two months, I've worked at this pet store i'm in love with. I get along with mostly everyone except two or three people, I know how to work everything, and I don't leave work tired. The issue is I only get paid $9.50. I know i'm 17 and I shouldn't expect more at my age. I work about 30 hours a week and for 60 hours I was paid about $430. I split the $430 in half and put $250 in my savings and used the rest towards gas, my phone bill, and the internet bill which my parents are having my pay instead of rent. I live at home, I attend an early college program where my tuition is paid for until the next school year. But i'm worried. I need to buy a new computer for school, start saving up for college, and buy a new car (my current car is on the verge of breaking down any day). I turn 18 in a month. My question is should I apply for a higher-paying job once I turn 18? I love my current job but I feel like for the amount of work the pay isn't that great. I'm happy to answer any questions if you need further details. [link] [comments]  |
| Sweetwater CC issue (Synchrony bank) Posted: 27 Jun 2019 07:48 PM PDT About a year and a half ago I was considering purchasing something off of Sweetwater using their promotional deals so I signed up for their CC and got it mailed to my house, etc. I ended up deciding to not purchase anything. A year goes by and the account close due to inactivity (unbeknownst to me). 2 weeks ago I finally decide to make a purchase with this Sweetwater card that i had signed up for over a year and a half ago and it goes through and I received my items without a problem. I then go on to synchrony banks website to check the balance and make a payment, and it tells me my account is closed and their is zero record of this purchase. To make things more confusing, on the invoice i received in the mail with my purchase, the card numbers shown do not match the card numbers that I used to make this purchase. How could this purchase have gone through on Sweetwater if my account has been closed long before I actually used the card? I literally have the order sitting in my house. [link] [comments]  |
| Divorced and suffering for it. Posted: 27 Jun 2019 07:39 PM PDT State:California So I was with someone for 7 years. This person made a lot of questionable choices at times they shouldn't have. I am now 21 and almost 30k in debt. Currently have: Discover: maxed at 3600 Merrick: maxed at 1100 Macy's: 758 Jcp(delinquent): 678 Loan meant to pay off all these 1 year ago: 4k Brand new car she had to have: 35k once fully paid. [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment