Personal Finance Amazon Prime Day Megathread: Be smart with your money! |
- Amazon Prime Day Megathread: Be smart with your money!
- Weekend Discussion and Victory Thread for the week of July 12, 2019
- 128 credit score, please help me.
- I think my dad may be getting scammed/used for money laundering
- If you’re Looking to save money, and are going to eat out, at least don’t drink out!
- The dangers of counting on overtime
- Need advice on how to protect my parents from my dad
- How can I help my mom?
- Want to invest, but don't know how
- Question about check fraud
- 35 and $32,000 in Debt - Can I do this?
- Credit card outta nowhere
- Probably going to lose my job in about 2 hours due to furlough, what do I do?
- Paying off debts to improve credit score- help!
- I had my identity stolen while having a 780 credit score a couple years ago and I’m still dealing with it today. Someone worked under my social, created a bank account and opened credit accounts.
- Am I getting played with my overtime?
- How much to put into 401K
- In-service conversion of traditional 401k to Roth.
- Apartment unit switch - yes or no?
- Filing taxes jointly when only 1 spouse has income
- Roll 401k with current employer to ROTH IRA?
- Filling out W-9 with SSN to get paid
- Take a mid-life career risk to move from low-COL to high-COL area?
- IRS releases draft a version of new form, form 1040 SR, US Tax Return for Seniors, as part of Bipartisan Budget Act mandate
- 750 a month for rent and utilities for a studio?
- Asking to get rent reduced slightly before signing a contract renewal, now apartment is threatening to increase it if I don't accept status quo.
| Amazon Prime Day Megathread: Be smart with your money! Posted: 12 Jul 2019 12:54 PM PDT Please use this thread to discuss Amazon Prime Day. Our advice
Past threads about Amazon Prime Day
Other relevant threads
Finally, here is some timeless advice from SNL.[link] [comments]  |
| Weekend Discussion and Victory Thread for the week of July 12, 2019 Posted: 12 Jul 2019 02:05 PM PDT If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| 128 credit score, please help me. Posted: 11 Jul 2019 08:53 PM PDT Edit: sorry, I know edits like this are cringey. But every single one of you has given me solid advice and been so polite, it's really helped me understand the situation better and given me plenty of routes to pursue this. Also I had a horrid night panicking over all of this when I wrote this and you've all made me feel a lot better, I actually feel happy and ready to embrace the challenge, thank you all so much. Throwaway obviously because I'm so embarrassed, I promise I'm being genuine. So I've recently turned 23 and I've finally accepted that I need help and to change the situation. In 2015 when I was 18/19 I got a really good job, like £20k a year which is good in the UK at that age. I was on top of the world, I didn't need finance or loans, although I took a couple out because I wanted to build a credit score. Over the course of two years I got a bed, a guitar and a Dyson hoover... They felt like reasonable purchases that I would easily pay off over time. I also had a credit card with £250 limit as I applied when I first started the job. Once I hit about 20 I was made homeless, I have a really fucked up family and I haven't seen my parents since. I won't go into that, it's irrelevant I guess. But ultimately I didn't expect it, so I had no savings or plans. We had only recently moved somewhere away from everyone I knew, so I was alone in the middle of nowhere. Slept rough and in hostels until I was 22. During this whole time I didn't contact or pay off my debts or finances. They all operate via websites and needing ridiculous 16 digit codes which I just didn't have access to anymore, so it was nearly impossible to resolve and in the end I shut it all out, I felt like I had bigger issues, which I guess I did. So I've lived somewhere proper for a year now, and I spoke to my mother for the first time and she's sent me all the letters that were sent to her home about all the debt and 3rd party groups that bought the debt along the way. It's a mess, there's so much. And the prices have gone up, it's not unpayable, but it's gone from what would've been like £600 left to £3000 judging by the letters. I've just checked my score with clear score tonight and it's at 128. I don't know much obviously but I know that is a shambles. Although, is it saveable? I don't know, I need your help. I've got a few questions. If I pay off the 3rd party companies that have bought the previous debts, will they update my credit report? Or is that something only the original lenders do? I'll pay anyway, but I'm curious. Once I organise a payment plan for these companies, how do I go about building my score? Who the heck is going to give me credit and an opportunity to rebuild? I guess for some people it won't sound a crazy amount of debt, but to have 128 credit score is making me feel like I'll never own even the cheapest of houses or whatever in my life time. My history shows that I didn't pay a single penny for years and ignored creditors. If you've got any other questions about the situation so you can give me better advice please do. I'm so broken. But I'm ready to resolve this the best I can. [link] [comments]  |
| I think my dad may be getting scammed/used for money laundering Posted: 12 Jul 2019 07:29 AM PDT Over the last 2ish years my father has been receiving money from his "online girlfriend" who lives in Ghana and is supposedly rich. She sent him a picture of her holding obviously photoshopped gold bars (Which I've seen). She is in her 30s and my dad is 64, she want my dad to "take care" of her once she moves to the USA (she is also supposedly a US citizen. Multiple times a week money is wired to my dads back accounts and he is asked to send them to various other account using money gram or western union. He is constantly texting her on WhatsApp. He is currently in a lot of debt and is going through selling his business. He owes over 120000 in unpaid taxes. He also has his friends wire money to them. I am unsure about how much of his own money he has sent, but the money his friends are sending is all the money being wired to his account. Please ask any questions and I'll be happy to answer them, I am seriously worried for him. [link] [comments]  |
| If you’re Looking to save money, and are going to eat out, at least don’t drink out! Posted: 12 Jul 2019 12:22 PM PDT So often times when browsing this sub I see many people recommend to stop eating out to save money. While this is great, effective advice, I really enjoy trying different foods and I'm not a good enough chef to recreate every single dish. However, I've managed to really cut down on my eating out expenses (45%) by simply opting for water instead of alcoholic drinks while out. It's crazy how quick it adds up... $10 for a drink plus added tax and tip (if you can manage to only do one), and your bill could jump to $50-60 a person. Since I've cut down I can easily go out to eat for $20-25 for just myself, which once a week is a nice treat on an otherwise balanced budget! [link] [comments]  |
| The dangers of counting on overtime Posted: 12 Jul 2019 08:18 AM PDT This happened to a friend of mine and I just think it should serve as a warning to people to combat lifestyle inflation and don't always assume you'll have unlimited income potential. My friend works in a job where he used to have unlimited overtime. It was common practice in the company for everyone to abuse it and that led to many financial problems with the company. Plus, the fact that they aren't good at the business part of business. Well my friend got used to always working overtime when he wanted extra cash. He wanted a $60 game, he worked enough overtime to get it after he had already spent the money. He used most of his income for his general living expenses, only has a few thousand saved in a bank account, and only puts enough in his 401k to get the match. He doesn't really save anything else. He's certainly not the worst off person financially but that's because he has had the ability for unlimited overtime for years. His company banned overtime last month since they're having financial problems. Now if he wants something he has to dip into savings (which he barely has) or into his regular income, which is already being used other places (servicing his debt, paying for his apartment, etc.) He just realized he's going to have to start reworking his whole budget or get a second job because his needs/wants way outpace his income. Had he had a budget that afforded him spending money without factoring in overtime, he would have been much better off than now. Instead of seeing the over time as the extra income it was, he came to see it as a regular part of his income. So beware of the budget issues overtime can cause and don't assume it will always be there. [link] [comments]  |
| Need advice on how to protect my parents from my dad Posted: 12 Jul 2019 06:16 PM PDT So, my dad is one of those stereotypical old people who are easily confused by things online. And unfortunately, we recently had to put him into an assisted living home due to Lewy Body Dementia. However, my mom is worried (possibly rightfully so), of him signing up for something online that will impact their credit scores or finances. Now, I'm going to be setting up blocks on his phone and tablet so that he can't access Yahoo or Gmail, so that he can't sign up for any service which requires email verifications. However, we're also curious as to what else we can do from, from a financial perspective, to protect them. My mom already had freezes places on their credit, so he shouldn't be able to signup for any loans, or credit cards, etc. Is there anything else we can realistically do to protect them from him, without just taking away his phone and tablet? He knows he probably only has a few years left, and I really don't want to take away anything else from him, since he's already been removed from his home and placed into the assisted living facility. I just want to make his last few years as comfortable as possible, without also potentially leaving my mom open to anything he may accidentally do. So as of now, he has a TV in his room, and a cellphone and tablet, but not much else to entertain him in his room. And unless if we come up with a real solution, she wants to take away his phone. And since he doesn't have wifi access in his room, and since he can barely walk, he would be mostly cutoff when in his room. He has a wheelchair and a walker, but getting around in either is difficult for him, so he doesn't leave his room sometimes. I'm kind of all over the place here, so please forgive me if it's hard to understand this post. Let me know if any clarifications or additional info is needed. Thanks. [link] [comments]  |
| Posted: 12 Jul 2019 06:01 PM PDT I'm only 15 and I live with my 48 year old mom and 10 year old brother. My mom only uber's and is currently looking for a job. Our dad gives us child support, but it's only enough for some groceries and maybe some of our rent. We can't really afford anything and we are cutting back on groceries now. We have no family in our state, everyone lives in maine while we're in florida. Our city is expensive, so we'll probably be moving in a few months away from my boyfriend and friends. How can I help my mom out? I plan to get a job next month when I finish my online classes and go back to public school. What jobs can a 15 year-old get? Is there anything online I can do? How can I help her look for a job without stressing her out? What jobs do you recommend for a 48 year-old with only a GED? What else can I do? [link] [comments]  |
| Want to invest, but don't know how Posted: 12 Jul 2019 10:57 AM PDT I am a 22F who works part-time while going to school. I am more conservative when it comes to investing but I don't want to let my money sit around forever. Here is my current situation Checking - $37.5K Savings - $20K CD -5K (2.23%APY, maturing in 6 months) Roth IRA - $48.5K (maxed for 2019) I have no debts other than my CC, which I pay off every month. My income for this tax year is probably going to be less than $10K since I chose not to work during the summer while I study for professional exams. my monthly expenses right now are less than my income and am not too concerned about them. I want to invest my money somehow and am not too concerned with liquidity. I was thinking of opening a traditional IRA but it doesn't make sense if I have a Roth. I looked into another CD but rates are low. I was considering the stock market but I am such an emotional investor and people have been saying we're in for a market downturn soon, which concerns me. I talked to BB&T, USAA, and Vanguard about what I should do most said CDs but I am not sure. I was thinking an index fund may be my best choice. I don't know much about investing but everyone says I should do it. What are some safer investing options I should look into? [link] [comments]  |
| Posted: 12 Jul 2019 08:12 PM PDT My husband and I are waiting on a check that is supposed to be arriving tomorrow. The check is for 30k and I'm turning into a nervous wreck about the entire thing. The check is being sent to use through M & T Securities who really dropped the ball. They promised us on Wednesday that we would have the money in out checking account by Monday. We called today to touch base with them and for whatever reason the ACH deposit couldn't go through and because of this they were sending a check to us overnight especially because we needed the money by Tuesday. The securities company knew this when they promised us we could get our money in time. Why they wouldn't call us on Wednesday to let us know there was a problem IDK. I guess my question is if this check magically gets intercepted and stolen how easy would it be for someone else to cash a check for this amount? If it does get fraudulently cashed or deposited what's the likelihood of us getting our money back? Sorry I'm a bit wordy and over sharing but I'm really shaken by this whole fiasco. I feel like a back story was needed but looking back it may not be but I'm going to leave it up anyway. Thanks in advance. EDIT: I did manage to scrounge up the money I needed. God bless my parents. [link] [comments]  |
| 35 and $32,000 in Debt - Can I do this? Posted: 12 Jul 2019 05:31 PM PDT I have no excuse for my credit card debt. It has just been unresponsible spending. Now, some of it medical debt related, but still not an excuse for me. Was spurred to post here after some money problems with my dad shined a bright light on my own debt. He has not been a good example for me lets say. I don't want to relive my dad's mistakes and I think cutting down on spending will improve my life in other ways than just financially. I feel very embarrassed about my debt as I have been been very privileged in my life and I view this debt as having squandered all the opportunities given to me. Basics:
Thoughts? Ideas? Can I do this? Edit: I am 33, not 35. I want this over by 35 lol. This is embarrassing because it is my birthday and I forgot my age! [link] [comments]  |
| Posted: 12 Jul 2019 07:52 PM PDT So long story short, My dad calls me a couple weeks ago and says he has a letter addressed to me. I tell him throw it away I haven't lived there for 15 years. A week later he says I got another letter for you a couple days ago I tell him the same thing. He says I'm going to keep them I held them up to the light and they might be important. So whatever. I go over to his house after work today and open the first letter. It says your pin code for Visa card from xyz credit union is 1234. I go,I don't even have a visa from xyz credit union is this something about your card (my dads card). He has a card from xyz credit union and he has one for me so I can buy him stuff because he is scared of the internet and doesn't go online, doesn't even have a computer. So we look at both of our visas and card number doesn't match. So I pick up next envelope and feels like a credit card inside. Open it up and sure enough there is a visa with the right account number to match first letter. So: I do indeed have an account with xyz credit union that I have had since I was about 16 years old. The only thing I have there is a savings account with basically no money in it. The only reason I keep it so I can turn in my change and not get charged a fee like a coin star, because my current bank wants you to turn in your change rolled up. Xyz sends my statements to my current address for my account with no money in it. Why or how could they have opened a credit card account in my name and send it to an address I haven't lived at for 15 years? WTF? Is this supposed to be a replacement for my ATM card maybe? But if so wouldn't they send it to my address where they send the statements for that account. Paperwork doesn't say it's a debit card but a visa credit card. I didn't sign up for any visa credit cards with xyz credit union. Doesn't this mean the xyz credit union fvckers hit my credit to check me out for this card? Any answers appreciated lol. I'm going there tomorrow to find out WTF and turn my change in, but would like some probing questions to ask besides WTF. 1 when I wrote the post it was spaced out much better and not a wall of text, sorry about that guys, maybe cause I'm on an iPad.2 sorry to all the bots lol, I get the impression I have a lot more to learn about reddit posts lol.[link] [comments]  |
| Probably going to lose my job in about 2 hours due to furlough, what do I do? Posted: 12 Jul 2019 09:41 AM PDT So my company hasn't been doing well over this last fiscal year and has stated they will begin layoffs. I got a meeting notice with my boss and HR today and my other colleagues got a "Teem Meeting" notice shortly after that I was not invited to. I'm just wondering what I should do? I have about 10k in savings, but thats for the wife's master's degree. We can't fully sustain on her income alone, but will be fine for a little while. Any advice? (other than start applying to other jobs immediately? n anticipation for this I am currently interviewing with another company right now, still in the early stages and not a guarantee.) Edit: thank you for all of the responses. I was indeed furloughed. Half a dozen people were let go today. I'll definitely be filing for unemployment asap. A few of you asked what field this is in, I'm an Aerospace Engineer. [link] [comments]  |
| Paying off debts to improve credit score- help! Posted: 12 Jul 2019 07:16 PM PDT Hello! I am in some debt and my credit score is pretty bad. I just got rejected for an apartment that I really wanted, and it has kind of woken me up to the situation. I have 3 credit cards that i just didn't make any payments on for years and the debts were bought by collections agencies. I know the agency name for 2 of them, but not the third yet. How can I figure out who owns the debt for that third one? And how can I pay the debts and get them removed from my credit report? I acquired this debt while I was unemployed or being paid really badly with no way of making payments. I was also younger, dumber, and a raging alcoholic. Most of the money i owe went to booze. (I will be 3 years sober in one month). The amount in collections is under $5,000 total. It's $4,000 and something. Could someone help me figure out how to take care of this? edit: Credit score is 502. I have been slowly building it by paying all my bills on time in full. I have a bit of money saved and am able to clear the total amount i owe. I just want to be sure it's off my credit report. [link] [comments]  |
| Posted: 12 Jul 2019 02:37 PM PDT I'm now 26 years old and still dealing with these fraudulent accounts until this day. This all happened while over seas. Upon finding this out I called each credit bureau and made a fraud alert. I disputed each account over the phone or online which I didn't know was the worst method. These accounts are still posted or pop back up because these credit companies are claiming the account as valid since there were several payments made on the accounts from a bank account that was proven to be fraudulent. Despite the police report or the FTC affidavit, they all consider it valid and idk what else to do! My credit score is now 589 and I can't do anything. I just hired a company like Lexington law today because dealing with all of this by myself is exhausting and all the certified mail I've been sending is started to exceed the price of one of these companies. I wish I handled it correctly right away but I was consumed with school and work, plus just lost my father. Any advice would be appreciated! I hope it doesn't come down to me having to sue these companies as there are a few of them. [link] [comments]  |
| Am I getting played with my overtime? Posted: 12 Jul 2019 06:54 PM PDT I thought over time in ca was 1.5x but on my paystub its only .5x. Am I getting played or am I just dumb? I planed on using my overtime pay for prime day but I only got 75 bucks for 11 hours of overtime. I was expecting ~200 dollars. Is there a way to get payed if I'm not getting payed right. I'm not sure of what to do. [link] [comments]  |
| Posted: 12 Jul 2019 08:45 PM PDT I am 20M. Getting a 50k salary. I am wondering how much i should put into my 401k. Current standings ( Low because traval on 4th and bought a few big ticket items) Checking: $802 Savings: $5,000 Roth IRA: $8431 Loans: None Credit cards: ~$30 paid monthly split between 2 cards Total Credit Card Limit: $3,000 Credit Scoe: Fico 738 (Swings from 738 to 741 baised on if i use 1% or 2% of credit Limit) Bills:
[link] [comments]  |
| In-service conversion of traditional 401k to Roth. Posted: 12 Jul 2019 06:32 PM PDT USA, 52yr old, $700k in 401k, $120k in other investments. I'm currently in the 24% tax bracket. I expect within the next 10 years we'll have taxpayer funded healthcare and education. This will come at the cost of much higher taxes. My employer allows conversion of pre-tax to Roth within our 401k. I'm thinking it would be a good move to convert and pay the tax now. Is this a good move or are there drawbacks I haven't thought about? [link] [comments]  |
| Apartment unit switch - yes or no? Posted: 12 Jul 2019 06:20 PM PDT Been in apt for 1 yr Have a chance to change apartment units for a 2nd floor to a different 2nd floor apartment. Current one is renovated with all new appliances. Second one has the same things, just not as brand spanking new. Second one would have a better parking space (right in front vs 20 spaces). Rent for the second is $220 cheaper/month. (Switching units is a 300 dollar fee). I make 90k a year with bonus potentials but I have debt from PA school near 100k so any savings helps pay it sooner. Assuming I stayed in the complex for another two years I could save close to 4800 to $5,000 by switching. But then I have to go through moving again and downgrading my apartment from a nicer one to a slightly less nicer one. And who knows if there going to be any issues with the current apartment as far as people who smoked inside of it or whatever. It's not that an extra $220 a month breaks my bank but it would be nice not to have to pay so much in rent. Do you guys think it would be worth it to move Apartments to save that amount on cost or would you just say screw it and not go through the aggravation of moving and just stay where I'm at given my salary? [link] [comments]  |
| Filing taxes jointly when only 1 spouse has income Posted: 12 Jul 2019 08:16 PM PDT Hello! I know tax season is a ways away, but I'm just curious as to how we will do our taxes next year. For 2019 I do not plan to work at all. My husband and I had a baby in November 2018, and financially, for now, it makes more sense for me to stay home with the baby. Usually we file our taxes married filing jointly, but since I won't make an income this year will my husband just file himself and claim me and our son? His gross income for the year will probably be slightly less than $25,000. However, if I decide to pick up a little work at some point is there an amount small enough to where I don't need to file? I thought I had been told that at one point. I'm talking maybe a few hundred bucks a month. (Thinking about selling things on eBay). We are obviously a low income family, and we cut it kind of close every month so we are trying to figure out the best situation for our family. Thanks! [link] [comments]  |
| Roll 401k with current employer to ROTH IRA? Posted: 12 Jul 2019 08:07 PM PDT Assuming your current plan allows for in service distributions, when does it make sense to roll some of your existing 401k into a ROTH IRA? Or rather, is this even something worth exploring and going through with? [link] [comments]  |
| Filling out W-9 with SSN to get paid Posted: 12 Jul 2019 07:57 PM PDT Hi, I'm an 18 year old with a passion for sports writing and recently found a website I could write for and get paid. They want me to provide a W-9 form which includes info like name, address, but it also includes Social Security Number. I don't have much experience with tax forms and stuff so I was wondering if it's safe to provide a company with this information over the Internet? It is a trusted and well known company by those in the industry, but I'm still a little sketched out about it because I know SSN is a personal thing. Thoughts? [link] [comments]  |
| Take a mid-life career risk to move from low-COL to high-COL area? Posted: 12 Jul 2019 07:54 PM PDT I'm approaching 40 years old in a low-COL area with a stable (tenured) job; my spouse has a moderately stable job. We'd like to move to a specific low-COL area near our families, but I'd need a job and am in a super-niche area. There is a high-COL area nearby that has several potential (and potentially exciting) options, including in civil service, that may be equally stable, with similar long-term potential. My spouse would hopefully get a job in the same area, but there are no guarantees. More specifically, this could likely take us from a ~$180k/year combined to ~$150k/year single income, at least initially, in an area where ~$240k/year would be equivalent. We could in theory make up that difference within a year or two... if my spouse gets another job... or, maybe not. We'd be selling a $350k house on which we owe about half that with 12 years left on a 15 year mortgage. We'd need to buy a $500-700k house with 20-40% down. Benefits include being within reasonable driving distance to our families, access to major urban centers, access to better schools and health care, greater diversity, and access to arts, culture, and entertainment. Plus new career opportunities, even if not all financial. Costs are... financial. It is a risk if my spouse fails to find an equivalent job, and totally resets our mortgage situation for the worse, and will reduce our investible non-retirement funds if we need to put more down. It is possible we'd never recover to our present trajectory. But not everything is about money, and we'd be relatively "fine" in most bad scenarios (and are insured if real problems arise, e.g., I croak or become incapacitated). We probably could psychologically tolerate a second financial crisis and housing market collapse, if we could trust my job to survive. So, is such a risk worth it for new opportunities and maybe a life in a place we'd rather live? (If I put it like that, it seems to be, but: What else could go wrong?) Thanks for thoughts. [link] [comments]  |
| Posted: 12 Jul 2019 04:07 PM PDT The IRS released today a draft form issued under congressional mandate. The bipartisan budget act of 2018 required the introduction of a form similar to the form 1040-EZ with the specific intent of it being made available to seniors. Only individuals 65 or older at the end of the tax year can use this form. The draft form can be found here [link] [comments]  |
| 750 a month for rent and utilities for a studio? Posted: 11 Jul 2019 11:45 PM PDT I make 1600 per month and my rent would be 750 a month with utilities but that doesn't include internet. The studio is 550sqft and comes with a Murphy bed My only other monthly expenses would be food, my $40 phone bill and about $20 a week on gas... If that Do you guys think this would be a good move? [link] [comments]  |
| Posted: 12 Jul 2019 07:45 PM PDT Hello all, I am in east Texas and it's time to renew my yearly lease. I currently pay $775/mo which is high compared to the rest of the city and "quality" of the apartment. Back in June, an employee for the complex was saying that if I renew right now, I would get $200 off September rent. She sent me one of those DocuSign contracts with my current $775 for the whole year. Cool I thought, but I am needing to save money monthly on rent so I can save up for the med school interview trail before signing anything. Fast forward to July 5 I asked the main office if it's possible to lower my rent to the new prices shown on the website (savings of $90/mo.). The office staff person acknowledged my current rent is a little high but said best they could do is give me a new unit with the new rent but I would have to pay $250 in new unit fees. I said I'd think about it and I would come back before finalizing anything. I came back today and a different employee, who looked way nicer dressed so may be someone from corporate, helped me about my issue. I told him the same story and asked about the logistics of moving units since I'll be busy weekdays and they aren't open Sunday, September 1. He said he'd get back to me. I get a text later today saying that:
I never even mentioned trying to keep my horrible current rent. I was trying to see about moving to the new unit. I already have the old $775 rent lease renewal in my email ready to sign from June. My questions is, can they increase my rent when I already have the current $775 contract ready to sign in my email? Am I perceiving this correctly as an attempt to scare me into signing the current contract? Are they trying to prevent me from moving units? Any help is of course greatly appreciated. [link] [comments]  |
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