Personal Finance Beware of Scammers |
- Beware of Scammers
- Buying a home now or saving 20% down
- $5000 a month for the rest of my life. Now what?
- I got an alert email from my credit card company saying my personal information was found somewhere on the dark web. What all should I do to make sure nothing comes of this, in terms of securing my bank account, etc?
- How can I remove my debit card from auto-pay on accounts I don't have access to?
- First auto loan. 17%?!?
- How to find what your Roth IRA Partial Contribution Amount Is?
- Up to my eyeballs in debt. Bankruptcy an option?
- Priorities when recovering from long period of being poor?
- Looking to buy my first new(er) car around ~$20k, what's the best possible way to finance it?
- Should I take out my student loans in one shot?
- Advice for a small windfall
- Experian app "matching" me with some good cards -- how similar is that to a pre-approval?
- Citibank Review
- How to pay/take out a loan for American med school?
- Taking in parents
- Should I transfer my CC debt?
- One Year Check in - Monthly Year expenses
- Need to learn to make a budget
- Finally re-entering into the work force after being a stay at home mom. Need advice on paying down debt.
- I’m considering moving banks. How do you go about looking for a new bank? What are red flags to be aware of? What’s important to you? (And any other advice...)
- Paying off student loans
- Mom needs to withdraw between 7 and 8% of her portfolio a year. How would you go about structuring her portfolio? Would you go to a financial planner to help?
| Posted: 07 Jul 2019 02:33 PM PDT I hope no one here falls for this scam, but I wanted to post this to warn everyone in case. I received this DM after posting here about reducing my credit card debt. It's really scummy to prey on those trying to get their personal financial lives under control. The user deleted the DMs after I continued questioning. Beware of what's too good to be true. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Buying a home now or saving 20% down Posted: 07 Jul 2019 06:34 AM PDT My realtor friends are all saying buy now cause rates are low. I am 37 and have lived with my father my whole life(we split rent etc). I have 13k saved at the moment with no debt. I made some mistakes in my 20s and built up some large debt that I finally paid off a few years ago. I'm on pace to save 18k by the year mark of when I started saving. Would you guys just keep saving for a while? I want to be on my own badly but I'm saving so much right now. My dream homes run about 170k. I've been looking more down around 130k though. I refuse to be house poor so I'm planning my mortgage and utilities to be 33% of my monthly pay. Renting is not really an option, I want a nice garage to work on cars etc. Thank you for any advice. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| $5000 a month for the rest of my life. Now what? Posted: 07 Jul 2019 04:42 PM PDT I searched the sidebar and guides and didn't find anything that matches my somewhat unique situation, so please be patient with me. So I am 28, my wife is 30. We are both disabled vets. I'm 100% permanent and total. I will receive $3336 a month for life. This figure will be adjusted by the government over the years for cost of living. My wife is rated at 70% and gets roughly $1500 monthly for the remainder of her life. shebetteroutliveme which will also receive a COLA. This is also for life. This puts us at close to $5k a month, tax free. We are 100% covered for medical expenses as well. Some other pertinent financial info: We own two cars. a 2013 and a 2014. Both paid off and under 100k miles between the two of them. $12k in a Vanguard index fund with a target retirement of 2055. $26k in a Roth TSP account. $30k Checking. $30k Savings. Zero debt. My wife and I are also both childfree. So no kids now or ever. Currently renting an apartment but looking at buying a home out in the Colorado Springs area. Is this the endgame? I feel like we have followed the flow chart for financial success, and I am at the end of it. What now? What are some of the things we can do to put our money to work for us? We were looking at budgeting $360k for a home, but don't know if we could increase that because we have steady, passive income. I feel like after all these years we finally have financial security. I want to keep it that way, but I don't know where to start. If you have any questions I will be around to answer them! Thanks for your time. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 08:27 AM PDT | ||||||||||||||||||||||||||||||||||||
| How can I remove my debit card from auto-pay on accounts I don't have access to? Posted: 07 Jul 2019 03:13 AM PDT Hey guys, so, kinda complicated situation, but I'll try to explain the best I can. I was living in a house that was being payed for by someone else, but I was paying all the bills. I've since moved out, paid the last bills for that house, even though I didn't stay through the whole month. The account is in someone else's name, but my card was set to auto-pay for the bills. Cut to now, I've been charged for the most recent month. I haven't been living there in over a month. I tried to call customer service, but I can't take my card off since I'm not the account owner. Is there any other way to disconnect my card from the account and not keep getting charged? And is there any way for the money to be refunding back to my account for the recent month? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 01:27 PM PDT Hello all, please help or advise. I just applied for an auto loan through USAA. I have been a member for over 20 years and am looking to take out a $5,500.00 loan to purchase a used car from a personal seller. That's Five thousand and five hundread dollars. (Just for clarification, very small loan) My credit score is 740 and I have no debt. They said they could give me the loan at 17.5% APR to be paid off at 12, 24, or 48 months. This is ridiculous, right? Am I missing something? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| How to find what your Roth IRA Partial Contribution Amount Is? Posted: 07 Jul 2019 05:44 AM PDT The annual Roth IRA limit is $6,000 in 2019 and I always like to contribute at the beginning of the year instead of waiting. I am single/head of household and my income will likely end up between the Roth IRA phase out limit which is between: $122,000 to $136,999. I've already contributed $5,000 but have hesitated investing the others $1,000 until I know what my final income will be (I am a freelancer and my monthly pay varies month-to-month). I want to know how much more I can make over $122,000 while still contributing $x amount. I don't want to get penalized for over-contributing. My question is, at what income levels can you contribute $x amount to your Roth? I.e. If I make $130,000 will I only be able contribute $5,500 instead of $6,000? I haven't found anywhere that gives a table of the exact contribution amounts once your income hits the partial contribution range. Would I just have to wait until the end of the year then when my accountant tells me how much I can contribute? I'd just hate to leave gains on the table by waiting (I don't really believe in dollar cost averaging if I am already sitting on the money) [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Up to my eyeballs in debt. Bankruptcy an option? Posted: 07 Jul 2019 04:36 PM PDT First off this is a throwaway acct due to pure shame =/ And sorry in advanced for formatting, am on mobile. I've been following along r/personalfinance my main for a good while now and thought I would share my current predicament with the sub in hopes of advice. We are in debt up to our eyeballs as I like to say. The wife and I do not live above our means anymore but we are struggling to make a dent in our debts. We are current on all payments with OK credit, 650 for me almost 750 for her, and have a few bucks in the bank. We're at a loss how to handle the situation we are in and fairly certain we need help. We've discussed meeting with a financial advisor and a bankruptcy attorney to explore our options. But, being that I practically live to lurk on reddit, I thought Id come here first for some advice from r/personalfinance. Here's where we're at roughly rounded up... $85K pre tax household yearly income. $9,000 student loan @ 7% $2,000 student loan @ 5% $3,000 student loan @ 5% $4,000 car loan @ 3% $14,000 credit card #1 @ 18% $14,000 credit card #2 @ 18% $15,000 credit card # 3 @ 8% $ 9,000 credit card #4 @ 19% Monthly bills in metro atlanta area are as follows. $1,300 rent $ 300 utilities & internet $ 400-500 food $ 100 phones $ 150 vehicle fuel $ 200 vehicle insurance $ 200 HDHP health insurance $ 150 misc expenditures Like I said above, we are just squeaking by paying the minimum on all of these bills and debts. We have never missed a payment for what it's worth. We do not have much in the way of assests. 7K in checking and savings accounts combined, Pick-up truck worth around 10k, 401K worth around 20K (which we are contributing about 6% gross income into on a company match), engagement ring and a guitar or three are really all we have worth anything. What are my options you figure? Other than make for money of course =/ The unsecured debt is what terrifies me. I've been toying with talking to a bankruptcy attorney but am nervous and have been hesitant. We really do not want to loose what little assests we have (cars, ring, instruments) I do really feel like I need to pay my debts. We did this to ourselves and now we have to deal with it. But at the same time, the stress is mounting and we're not getting any younger (early 30's). We'd like to buy a house in the near future and we really need to start saving more for retirement. Im sorry about the rant, maybe I just needed to write this all out in the open. I'd love to hear what the community thinks and will appreciate all the advice. The time has come to tackle this issue head on [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Priorities when recovering from long period of being poor? Posted: 07 Jul 2019 03:04 PM PDT My husband finally got a job which means for once we have some disposable income. Before that he was un or under-employed for 6-7 years, so surviving on one income in the Bay Area. We have a fair amount of debt from making bad choices before we learned how to live within our means. While we were poor, we fell into the category of too rich to qualify for any subsides, but too poor to replace stuff that wore out. I'm struggling with how to prioritize paying off debt, save for retirement and still be able to buy stuff like new underwear for example. Obviously we did without for years but I'm tired of wearing the two pairs of pants I own, my car needs new tires, and I'd really would like to put my kiddo in swim lessons. For people who have come up the income ladder, what is the best way to prioritize? Debt: CC 1- $3400 balance @ 12.7% CC 2- $3000 balance @ 18.9% CC 3- $990 balance @ 26.5% CC 4- $975 balance @ 0% Personal loan - $4050 no interest Income: about $110,000 pre tax combined Expenses: Rent- $2,100 (includes utilities) Phone: $60/month combined Internet: $50/month Insurance car: $90/month Childcare: $1100/month Transit and gas: $360 Groceries: $200/week (includes toiletries) I have a 401k saving at 4% to get my full match. About $20k in a 403b account. Spouse has no retirement. I'm sure I have other expenses but that's what I can think of right now. I'd appreciate any recommendations. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Looking to buy my first new(er) car around ~$20k, what's the best possible way to finance it? Posted: 07 Jul 2019 12:17 PM PDT To preface this, I don't know a lot about financing right now, I'm just really good at saving. I've had a credit card for 10 months and my credit score is 767. I have absolutely 0 debt. Not including my 401k, I have $8k saved up that could potentially be used as a down payment. So I'm in need of a new car and I'm tired of buying used cars from private parties, for reasons I won't go into. So I've decided this time I want to finance a newer (2017 - 2019) Honda from a dealer with low miles, roughly around $20k. I'm wondering what would be the best way to finance the car to ultimately pay the least amount of money. Should I put down the full $8k? What kind of payments should I expect and how long of a loan term should I shoot for? Any help is appreciated. Thank you! [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Should I take out my student loans in one shot? Posted: 07 Jul 2019 01:24 PM PDT Straight to the point. I have 11K in student loans (Federal). Repayment begins in August. Payment is 73 a month. I have 11K in savings (emergency). I make about 46K a year. I am able to save 1K a month as I live at home with my parents. By the end of the year I will recoup 6K back into my savings. Should I kill my student loans now or wait? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 05:27 PM PDT Looking for advice... I am about to receive a $100,000 settlement from a car accident earlier this year. I have a small amount of debt to pay off ~$7000 in credit cards and ~$9000 in student loans. I'm not sure how else I should use the money.. or even how to estimate the taxes I'll need to pay on it. My salary is ~$68,000 and I currently contribute 9% (+5% from my employer) to my retirement each month. Any thoughts would be much appreciated.. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Experian app "matching" me with some good cards -- how similar is that to a pre-approval? Posted: 07 Jul 2019 05:26 PM PDT My Experian score jumped up recently from a roughly 640 to a not-terrible 680, which is great -- I've been working on it for the last six months and I'm making progress. This, of course, has changed the offers I get within things like the Experian app/site. It's "matching" me for a couple of cards that are quite attractive. But I'm really apprehensive about too many hard pulls, as I've had three in the last six months; I don't want to apply for things that are out of my range. So my question is this: Is the "matching" a pretty good representation of my chances with a particular card? Or is it the same match that everyone with a 680-ish score gets? That leads me to my next question: Do the cards that Experian pushes mainly get their decision information from Experian? Or would Experian offer me an AmEx that pulls from TU? My TU/EQ scores are still in the mid-600s, so I feel like I'd be wasting a pull with those, but if it only pulls from my sweet new EX 680, I'd feel a lot better about things. So what do, /r/personalfinance? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 06:25 PM PDT Has anyone here had or does have a Citibank account(s)? I am going to open one within the next couple weeks and was wondering if anyone has any good or bad reviews. I will be opening the Citi Account Package ($400 Bonus) and High Yield Savings Account. Thanks! [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| How to pay/take out a loan for American med school? Posted: 07 Jul 2019 11:49 AM PDT I live in the US and I'm graduating from undergrad spring 2020. I'll be attending a med school starting summer 2020. I currently have a merit-based scholarship for my undergrad, but I will have to take out loans for my med school. The new school will be away from family and friends, so I plan on renting an apartment. My tuition will be $80k a year. I've been working as a waitress to pay off my car, so I don't have much saved. I do not plan on working during med school. How do I take out a loan for my professional school and living expenses to not fuck up my financial future? Public school never taught me simple finances, but I did learn that the mitochondria is the powerhouse of the cell (which I guess got me into med school?) [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 07:20 PM PDT My wife and I are building a house near family. Her parents have asked about selling their house and living with us. They would basically pay to have our basement finished with a living area, bedroom, kitchenette (or full kitchen if they choose), full bath, etc... I'm not worried about living in the same home as my in-laws. They are great people and very easy going. We have been talking about the finances. Right now we are leaning toward the above avenue (they pay to finish the lower living space). They'd use a portion of the money from selling their home and would probably start the work soon after we closed on the home to limit the assessment and property tax bill. We'd find a way to have them contribute to utilities, but wouldn't charge rent. Option 2 would have my wife and I paying for the downstairs work. We would charge rent in this case, which I would feel better about, but would make my wife feel a bit uncomfortable. They'd have to wait a bit longer to move in in this case. Again, leaving out the comments about my insanity for inviting my in-laws to live in my home, what factors may I not be considering when it comes to the financial setup. A bit more info: -In-laws are in their upper 60s. Both are healthy at this time and can certainly live on their own, but are looking to sell their home and simplify their assets. -They don't need it now, but my wife finds great comfort in being able to provide care when it becomes needed. -Money isn't a factor here. They are recently retired and have a very comfortable financial situation and nest egg. -The home: We are looking at a raised ranch-style home. About 1500 sq ft upstairs. ~$200k totally cost. Not sure what the cost will be downstairs. My mother in-law can have expensive taste, so they could potentially spend $50-$70k downstairs. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 05:41 PM PDT I am on the path to becoming debt free. Aside from my mortgage, I have one credit card debt at $12, 500 and 14.5% interest. Should I transfer it to a 0% interest card while I'm paying it down? I am making big payments--$700-$1000/month to kill it. Thoughts? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| One Year Check in - Monthly Year expenses Posted: 07 Jul 2019 05:22 PM PDT Hi guys, Checking in here 1 year from when I began taking my journey to become debt free. The most fun part is definitely minimizing my monthly expenses, I'm close to optimization now, I just need to complete paying the personal loans. Here is a list of my expenses August 2018 and what they will look like on August 2019:
I used to make all purchases and payments on my Bank of America debit card - as of February I ditched BofA in favor of Charles Schwab, and I now make all purchases and payments on my AmEx and Chase credit cards and pay the balances in full every month. *I was most astonished at how much I saved on my cell phone bill. I switched from Verizon Wireless (2 lines) to Visible. The great thing about Visible is it's a Verizon MVNO, meaning they use the same network and equipment. I set up my mom to pay for her own account, so it's actually $40/line. Visible is unlimited, uncapped 4G LTE data, voice, and text messages. I highly recommend to anyone who is on the Verizon network and has a compatible device. **I no longer carry credit card debit from month to month. All expenses go on the credit cards, but the balances are paid in full [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Need to learn to make a budget Posted: 07 Jul 2019 04:01 PM PDT Despite all the tools my bank and using Mint, I still don't really know/understand where my money is going. I need to create a personal budget so I can have the best visibility into my money. Not sure what the best/easiest options are, but I'm open. Thanks in advance. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 04:42 PM PDT I just started working again and I'm loving having some breathing room. It feels great. I don't want to let this opportunity to be financially stable evaporate by spending what I make on bs. We have lived paycheck to paycheck for 13 years so this is a big change for us. My base salary is $31,000 before taxes. There is commission but it will take some time to get rolling with that. We do have CC debt that I want to tackle immediately. I've already begun that process. My question is, are there any apps that can help organize my bills? [link] [comments]  | ||||||||||||||||||||||||||||||||||||
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| Posted: 07 Jul 2019 06:07 PM PDT When paying off student loans through FAFSA should I attack specific loans and pay them off one at a time or pay them all off at once. I'd be paying the same amount monthly just a matter of where I put the money. [link] [comments]  | ||||||||||||||||||||||||||||||||||||
| Posted: 07 Jul 2019 10:31 AM PDT My mom is 75 and isn't in great health. She needs help getting around and since me and my siblings all work she is also pretty lonely. My sister lives out of state and is going to move back to help take care of her and be with her daily. However, my sister will need some financial help. My mom will have to withdraw 7-8% of her portfolio a year in order to help my sister and to maintain my moms house/current lifestyle. Up to this point she has been withdrawing about 5% which our current stock/bond allocation has been able to meet with a little capital appreciation. Our initial strategy was to meet that income need with asset preservation. But now i think we need to switch gears looking for higher yields. Looking for advice on how to achieve our the goals of 8% withdrawal and still trying to preserve assets. Thanks in advance. [link] [comments]  |
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