Personal Finance Labor Day sales are here - but you're not saving money if you're making impulse buys |
- Labor Day sales are here - but you're not saving money if you're making impulse buys
- In-laws offering to loan us money to buy home @ 0%
- Request a free credit report today 9/1 (and set reminders on 1/1 & 5/1 for the other two)
- Landlord flooded our apartment. Any advice would be helpful!
- Advice regarding 250K student debt.
- What should I do with $60K in the bank?
- $80k monthly salary. Help!
- Best approach for apartment rental with bad credit
- Spending too much on food - single
- 30k in savings - 19yo needs advice
- I need a SIMPLE budgeting app
- Unemployed. $30K in debt. $26 in my bank account. Medical issues. Overwhelmed. PLZ HELP.
- Job Offer - $12k-$17k annual loss
- My car just broke down 2 nights ago. I just started a new job after being unemployed for months. And I was planning on filing bankruptcy. I need advice please.
- Boss owes me 2,000$ and is not answering my phone calls nor massages
- Laid off and got my Cobra letter : It only lists insurance for me + children -- Can I get plan without children
- Remove Mother from Bank Account
- Should I be moving my money into another currency?
- What do I do with a car I can no longer afford?
- Moving to Chicago. How’s my budget?
- Discover Online Saving Account - Deposit Bonus - Can I withdraw after?
- California: My car failed smog test, want to get rid of this garbage asap in cheapest way possible
- Walked away from dad's insolvent "Estate" - now small check shows up
- Help Looking Over California Lease Agreement?
| Labor Day sales are here - but you're not saving money if you're making impulse buys Posted: 01 Sep 2019 05:37 PM PDT Just your friendly seasonal reminder that the "wow, what a great sale!" mentality is only actually good if you already planned on making a particular purchase. Snagging your fancy new $1,000 patio set for "only $600" isn't actually a good deal unless you were specifically looking for a new patio set, for example. And that goes for lower price items too, especially since it's easy to end up making multiple purchases since they don't seem so bad. [link] [comments]  |
| In-laws offering to loan us money to buy home @ 0% Posted: 01 Sep 2019 04:21 AM PDT I'm curious if there might be a reason I am not thinking of to take my in-laws up on their offer to loan us the cash to buy a new home. They've offered to loan us the money at 0% interest. It would save us close to $250k in interest over the life of the loan. I can't think of a reason not to accept, but wanted to check here and maybe someone has a reason I hadn't considered. Thanks Edit: I appreciate you guys taking the time to respond. I guess I could have been more clear in my initial post, I wasn't asking for interpersonal relationship advice, merely financial. Some of you guys seem to either have terrible families or are incredibly married to the idea of living by absolute truisms. The personal parts of this deal I am fine with. I would never consider it if I thought any of the negative things some folks are suggesting would be the case. I'm not that young and naive. I'm mid 30's with a couple kids and this is my second house. I was just presented with an opportunity to save some money. Either way, like I said, I appreciate you folks. This sub is outstanding and there were some really thoughtful responses in here. Sorry that I couldn't respond to everyone. [link] [comments]  |
| Request a free credit report today 9/1 (and set reminders on 1/1 & 5/1 for the other two) Posted: 01 Sep 2019 02:26 PM PDT Today is a great day to request one of your three free credit reports. By law, US residents are allowed a free copy of your credit report from each of the three major credit bureaus each year. (If you are a victim of fraud, you have additional rights and access.) Spreading your three free reports over the year is a great way to regularly keep an eye out for fraud and incorrect info. Starting with Jan 1st, one-third and two-thirds through the year are May 1st and September 1st. Guess what today is? So, do two things today - 1: request one free credit report at https://www.annualcreditreport.com, and 2: setup yearly reminders on your calendar for all three. (I do 1/1=Equifax , 5/1=TransUnion, 9/1=Experian, but pick whichever works for you.) For those interested in your credit score, there's no need to pay when offered it alongside your free credit report: FYI: Requesting your own credit report will not affect your score. [link] [comments]  |
| Landlord flooded our apartment. Any advice would be helpful! Posted: 01 Sep 2019 06:27 PM PDT My wife and I leave to go swimming for a few hours. When we get back our landlord has his hose out on the lawn full blast. We live in a duplex basement and he lives in the upper floor. The water went down our steps and the drain was clogged. (Which we've told him multiple times that water wasn't draining and had him turn his water off before it floods and fix it.) When we get home around 6 we see the puddle of water at the bottom of our steps and I slowly open the door to see a few inches of water on our floor. It seeped all the way through the house to our bedroom. We lost quote a few electronics and obviouslysly our furniture is all water damaged. Our landlord has no money and is on the brink of foreclosure. We've already even seen notices for auction posted in his front door. We have insurance. My wife has also pictured and cataloged every item we own. Will we be able to get anything from insurance? Should we sue? How screwed are we? Update: we've got an industrial service on the phone for him who said they could be here in 30 mins and he denied it. Thanks for all the help so far. Definitely stressful with me starting school today and my wife having knee surgery in 4 days and will be on bedrest for a month. [link] [comments]  |
| Advice regarding 250K student debt. Posted: 01 Sep 2019 05:54 AM PDT Hi! I am new here and I am trying to learn about finances and sorry if format is not right. I would like to kindly ask some advice regarding student loans and what is the best way to prepare myself to reduce the debt. Long ago I made the life changing decision to study overseas. My parents were supportive and co-signed a loan which covered my tuition. I studied in Australia and managed to finish an undergrad, master and now a PhD. The debt by the time I finish next year will be around ~250k USD and it is charged at a 7-8% interest per year. When I started my studies, the Australian dollar (AUD) was around the same as USD. Now 1AUD is 0.67USD and it is possible it will continues to devaluate. This has been a constant concern as the plan was to pay back my loans when I start working. I don't regret the decision though, as I met my wife and now have a kid. My wife has recently graduated and has no debts. She knew about my loan situation but was also very supportive to work around it together. She is expecting to earn between 75k-100k a year (AUD) before taxes once she finds a job in her field. I am currently working part time and contributing around 35k a year (pre tax) while finishing my studies. I hope to get a position of around 80k-110k next year. I am starting to read books about personal finances (I know I should have done it sooner), I am keeping all expenses to the bare minimum (no eating out and just going to mostly free activities) and I know I will have to make BIG sacrifices in the next decade or two. The priority is my wife and child, and I am willing to do my best and even work extra jobs if needed. I just want them to not suffer much due to my financial choices. We are both over 30 years old. Due the conditions of the loan, payments will start once I finish, and are meant to be fully paid in 13 years from now. Repayments will be high and pretty much one of us will be working just to pay the loan while the other supports the family. I am also concern of the risk that any of us will loose income due to unfortunate reasons. My parents understand the dilema, they are too kind and mentioned the option of selling some of their own property to reduce monthly interest I will be paying. The property they want to sell is around ~70k USD, but I feel uneasy about receiving help from parents (which are too generous) and I don't want to profit from them. They have other property but I am not quite sure to accept such an offer. I have around 20kUSD saved, which is meant for emergencies. Our current family expenses are 25k a year (living, food, utilities) +~5k expenses. My biggest concern is the exchange rate as you can imagine. I am concerned that even if get a 100k salary, it am only gettin be a 67k USD due to the exchange rate. I am happy to hear any insight on my situation. Good or bad news, I am happy to take it as I need to know what will my situation mean in the long term. Thank you so much! EDIT:
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| What should I do with $60K in the bank? Posted: 01 Sep 2019 04:13 PM PDT First post here, but I'm looking for a bit of advice. I'm a 30 year old male, gainfully employed, who has saved up $60,000 dollars in a checking account at my bank. I've put this sum together over the last 4-5 years -- a year ago, my small company was bought by a much bigger company, which gave me access to company health insurance and benefits for the first time ever, really. They also paid me a significant bonus to stay on, which is why I have 60K in the bank today. It has been suggested to me by a close friend that having that much money in a checking account is a waste and that I should invest. I just don't know in what, exactly. I don't have a retirement account (I've been told I should have one), and my credit sucks (thanks to student debt and medical debt, it was tanked for years, but it's on the upswing now -- sitting at 640ish, which sounds bad but it was way lower before). I don't have a credit card due to the awfulness of my credit for many years. Based on some limited research, it seems to be recommended that I should have enough money in the bank to survive for six months unemployed, in case something bad happens -- so that would roughly mean $10,000 for me (since my monthly costs usually take a little less than a paycheck, which is $1600 for me). If I kept that in the checking, that leaves $50K to go ... places. I'm not really certain how much should go where or what things to invest in or if I even should, considering the current uncertainty in the global market with all the trade wars and worrying recession-ish signs the market seems to be giving. So, my question to the wise folks here: where would you put the money if you were in my spot? I will happily answer any and all further questions to help paint a picture for you. Thank you in advance. [link] [comments]  |
| Posted: 01 Sep 2019 06:44 PM PDT For starters: Im 27. I'm an independent musician. My money comes from song royalties and YouTube. All my money is completely untaxed. I don't get w2's, just a couple 1099's and the rest I have to add up and report on my own. I've been making between $40-$60k a month for the past 8 months or so. I made $92k for the month of August. This was due to a few songs I released that did waaay better than my expectations. The $80k is just a middle ground number I came up with based on the trends of my streams and sales so realistically my monthly income will be between $50-80k for a while. I'm an LLC and currently have one employee who I'm paying $744 bi-weekly before tax. I pay about $4k a month to the IRS (I know I'm screwed next tax season anyway but at least I'll have payed $48k on my taxes). My monthly expenses are about $4-6k (mortgage, car payments, food, etc) Basically I can't believe I'm making this money so I treat it as if it's not real. I put the majority in savings. Only problem is one of my savings account is a non-interest account at a credit union and the other is a Wells Fargo savings account making $50 a month. I don't know what to do with this money to make sure I have it in the future if the music thing ends up falling off for some reason. Where should I start? I don't know anything about investing or what mutual funds are. I do have $20k in bitcoin which is obviously not a smart investment but that's one of my attempts at "investing". Should I start a SEP IRA? I'm a complete noob at being an adult and only know how to make music and not blow my money, so I guess that's a good starting point. Any help is greatly appreciated. Thanks! [link] [comments]  |
| Best approach for apartment rental with bad credit Posted: 01 Sep 2019 04:19 PM PDT Hi all! My roommate just informed me that they will be moving in November, and so I must also find a new place to live by November 1. I wasn't planning on this so I am trying to create the best action plan for getting approved for a new apartment. Current situation: Credit score is 646 (saw 631 on a different report). I'm also carrying a balance of $3k on a credit card. What I want to know is this: should I attempt to pay down the CC ASAP before a rental company runs my credit? Or should I focus more on saving for the inevitable higher security deposit? I think I will be able to move into a house with a friend who needs a roommate, so I won't be needing to find my own apartment. I haven't been the most responsible with my finances lately, but I have a steady job that earns $47k a year and I have lived in this current apartment for three years and have always paid rent on time. Thanks for all your help :) I'm starting to freak out! [link] [comments]  |
| Spending too much on food - single Posted: 01 Sep 2019 10:48 AM PDT I recently looked at my credit card spending habit for the entire year. What amazed me was that I spend so little on utilities/insurance/consumer goods/etc. but the vast majority went to groceries, eating out, take out. $9400 out of my entire $16000 I spent this year on credit cards. So that works out to about $1,175/ month About $5000 is from takeout/eating out and the rest is from groceries - granted there are some none food items in the remaining however they would contribute to a small amount. Is $1200 a month usually high for someone to spend on food? I don't drink so there is no alcohol in this spending. I am still saving ~65-70% of my take home (I max out 401k/roth IRA/HSA, which I don't count in my savings rate). I would like to hit a 80% savings rate. I want to lower my food spending and increase the amount I spend on hobbies,but still reducing my total spending. Does this seem reasonable or am i trying to unreasonable frugal? [link] [comments]  |
| 30k in savings - 19yo needs advice Posted: 01 Sep 2019 02:30 AM PDT I (19) am currently working for a low salary; I have hardly any expenses since I live with my parents and don't have a car (or girlfriend). However in one month I quit my job (due to military service, which lasts for 6 months) and everything I got in my bank account is about 30k. I am interested in investing, however I have 0 experience and I am wondering how much I could/should invest. Next year I'll be studying and should afford an apartment, housing, etc. I'm thankful for any advice. [link] [comments]  |
| Posted: 01 Sep 2019 07:12 PM PDT Context: 33 year old single female pharmacist working full time. I used to use an app called iReconcile. It was a basic checkbook app. It could plug in scheduled transactions but was not linked to any of my bank or credit card accounts. Everything besides scheduled transactions was manual. I could easily categorize transactions to see where my money was going. A few years ago, after an iOS update, it no longer worked because the developer abandoned it. Ever since, I've been trying to find a replacement. I've tried a lot of money management apps and they tend to be so automated I can't seem to make them work for me. I have plenty of money to pay my bills, I need to budget the money that's leftover to control excess spending and pay down my debt. I want something on my phone so I can enter expenses and check my budget no matter where I am. I'm currently trying YNAB but in a few weeks my trial runs out and it's going to cost like $80/year. I already know it's not what I want. I've also tried Mint and Clarity among others. I never stick with them long. Does anyone have any suggestions for me? [link] [comments]  |
| Unemployed. $30K in debt. $26 in my bank account. Medical issues. Overwhelmed. PLZ HELP. Posted: 01 Sep 2019 05:48 AM PDT I am 30 years-old. I left my job a year and a half ago after falling ill and exhausting my sick leave and FMLA allowances due to a mixture of post-cancer, arthritis, and mental health issues. I have been unemployed ever since, living with my retired parents, and have avoided reality and responsibility through hobbies and sleeping through depression. I have close to $30,000 in accumulated debt that various creditors are in the process of charging off. I am already getting hourly collector calls and my parents have received a few as well. I have not told them the extent of my debt, yet. Some accounts are as small as a few hundred dollars, one is as large as $12,000. I am terrified of being sued and what that is going to mean not only for me but those around me. I don't want to be a burden on my loved ones anymore than I already have and I am scared and don't know where to even begin unfucking the situation I've let build up over the past 10 years of my credit history (I've carried debt for this long). I paid minimum payments until about four months ago when I could no longer afford to. I didn't have much luck finding employment in my same field and didn't try re-entering retail or food service because of joint and back pain that keeps me from sitting or standing for prolonged periods of time. Aside from some electronics like my PC, the only asset I have is my car which may be worth around $4-6K depending. I'm still paying off $2500 of the auto loan and will be bringing that loan current in the next few days. Today I realized that after bringing my car loan current... I will have $26 in my bank account. I can't go to my doctor appointments anymore, they won't prescribe me my medications, and I need one of my post-cancer medications to live. I have applied for my state medicaid program and have had issues getting approved. Same with food stamps. But I'm working on those. I don't know what to do. I don't think I can afford a bankruptcy attorney. Maybe I could borrow the money from my retired parents but it guts me to even think of taking from them when they are retired and trying to live their lives at their age. I'm just feeling so mentally overwhelmed by everything after having avoided all of this for so long and I don't even know where to start. Can someone please, please help me make sense of this disaster so I can start to stand back up and deal with these issues properly? I don't know how best to approach this with the least amount of additional collateral damage happening... Please give me guidance. [link] [comments]  |
| Job Offer - $12k-$17k annual loss Posted: 01 Sep 2019 06:02 PM PDT I have been offered a position for $65k a year. I am currently making $77k, with an anticipated bump to $82k effective October 1. The job is an absolute dream job for me, but I am not sure I can accept it. The three year projected loss, coupled with breaking my lease to relocate, would be close to $54,000. The cost of living is lower in the place I would accept. The gains from this, however, wouldn't come close to making up the difference. 6k a year. Still a net loss of 11k a year. I have never been in this position before. I want to accept, but I am not sure how much wiggle room they have to meet me. My current position makes me miserable most days, and this is an absolute dream job for me. How can I get them closer? They had mentioned "equity" as their reasoning for offering me at the top end of their scale - which was 60-65k a year. Am I being reasonable or am I completely full of myself to counter? [link] [comments]  |
| Posted: 01 Sep 2019 03:26 PM PDT Hi guys. Over a year ago, I took out a big personal loan for my ex with the expectation that he will be the one making all of the payments. And he did, until we broke up. I can't afford to make the payments on my own now since I had to quit my job (they relocated) and I was unemployed for over 6 months. I stopped making payments on my debt which includes the loan, my own medical bills, and tuition (4K) because I had consulted a bankruptcy lawyer. I was planning on filing for chapter 7 and the lawyer told me the fee would be around $900. Then, 2 nights ago, my car broke down. My dad who fixes cars told me that it needs a whole new engine even though the engine and transmission on it was replaced 3 years ago. He told me that I need to buy a new car and pay for my own insurance. The problem is, I have $10 in my bank account since I haven't received my first check from my new job yet and I need to file bankruptcy. Any advice? Or if you've filed bankruptcy before, how long does it typically take to get approved for a car/car loan? [link] [comments]  |
| Boss owes me 2,000$ and is not answering my phone calls nor massages Posted: 01 Sep 2019 05:49 AM PDT I'n a college student who worked-on a website for about 6-7 months . I did need to tell my boss about the money each month and sometimes he'd give me the money for two months because he'd "be late or forget", you be the judge. Long story short , I was not paid for the last 3 months I worked on , I sent mails with my hours as I worked from home and my boss told me he'd give me the money , but he never did . I called this summer hoping to get back to work and get the money back but he's not answering me . I sent a massage via whatsapp asking him if he'd want me to come back to work but he kinda ghosted me (he was online ) but the massage haven't been "seen" (the blue checks i mean don't appear). It's been over 5/6 months since he haven't paid me . What can I do? [link] [comments]  |
| Posted: 01 Sep 2019 06:34 PM PDT I got laid off, and I got a Cobra letter today listing options. For dental and optical, I have the option to continue insurance either with or without my children. For medical, they only list the option with children. The company insurance options (offered to current employees and to me when I was working there) offer separate options with and without children/family. I want to drop the child coverage and just cover myself. Is this a mistake/oversight, or does the company not have to offer Cobra for just me if previously I had insurance for both myself and my daughter? Also, the company offers two tiers of plan, Gold and Platinum. They only show the Platinum plan (which I had) on Cobra. Do they need to also offer the Gold plan as an option, or are they only required to offer the same tier I had when I was employed? Thanks. [link] [comments]  |
| Remove Mother from Bank Account Posted: 01 Sep 2019 06:12 PM PDT Not sure if this is the right sub for this question or not. I started working when I was in high school and my mother helped me set up an account at a local credit union. Since I was a minor, her name was also on the account. I thought I had her taken off the account when I turned eighteen, but recently learned that wasn't the case. I currently live abroad, but still use the accounts (saving and checking) to manage my money, since I invest in the US stock market (no 401k in Japan) and all my credit cards are US-based. I called the credit union to have my mom removed from the account, and they told me we'd both have to go in person to make that happen. My relationship with my mom is not great and while I trust her to manage money I don't like her having access to my personal information. I won't be back in the States until the winter holiday season, and while I'm happy to go to the CU in person to sort out the issue, it will be difficult to get my mom to come along. I'm pretty sure this is what happened when I turned eighteen, too, and I was unable to convince her to come with me back then. I have my mail sent to my parents' address (I get all my bills online so it's usually nothing personal or urgent) and have asked them not to open it, but the CU addresses mail about my account to both of us, so my mom happily digs into it. The CU also answers any questions she has about the account, since her name is on it. Is there anything I can do to get her off the account without going down to the CU with her, or am I stuck with this? [link] [comments]  |
| Should I be moving my money into another currency? Posted: 01 Sep 2019 04:59 PM PDT So my situation is as follows; I'm a 29 year old British man living in Auckland, New Zealand. I have a good job and a visa that will last until 2021. I also have a partner who can apply for a residency visa from Summer 2020 and I, if still with her (relationship is very strong but obviously who knows) could apply for residency as a partner but I plan to be here till at least 2021 minimum. Now I'm 99% certain that no-deal Brexit is going to happen and expect the £ to plummet. I have money invested in various ISA's that I cant move around but I have 20k that is available to move. Transfer wise have quoted me about £90 fee to move the lot to my NZ bank account. Now I do love NZ but I don't think I want to spend the rest of my life here. Housing is very expensive and few job opportunities outside the 3 major cities. So right now I do plan to move back to the UK in 2-3 years maybe. With that in mind should I be moving my money out the county and into NZ$ or should I just leave it alone? Its essentially gambling isn't it? My £20,000 will be roughly $38,500 as of today and in a few years moving back if the pound is weak I could turn it back into say £22,000 but if the pound is strong It could only be worth £18,000. [link] [comments]  |
| What do I do with a car I can no longer afford? Posted: 01 Sep 2019 07:01 PM PDT Hello! I was enlisted in the military and (stupidly) purchased a vehicle for an outrageous interest rate. I've since had to get out of the military and can no longer afford my rent, bills, food, my vehicle, and the loan I've had to pull out to keep up with bills. I owe way more than the car is worth, so selling didn't seem viable. Since I still owe money on it, I was under the impression I couldn't sell it because I don't possess the title. Frankly, I feel financially fucked and that I have no options. Any advice would be very much appreciated!! [link] [comments]  |
| Moving to Chicago. How’s my budget? Posted: 01 Sep 2019 02:19 PM PDT Just graduated university and got my first adult job in Chicago. I have no student loan debt, credit card debt, or car payments. I'm single and my current goals are to build an e-fund and continue saving for retirement. Monthly net income: $3550 Rent $1425 Food & Dining $250 Clothing $175 Entertainment $100 Roth IRA $350 E-fund savings $710 Commuting $100 MISC $440 Any glaring mistakes? Any advice? [link] [comments]  |
| Discover Online Saving Account - Deposit Bonus - Can I withdraw after? Posted: 01 Sep 2019 06:26 PM PDT I was planning on putting $15k into my brand new discover online saving account to collect the $150 bonus. I was wondering after I collect the $150, if I can take most of it out (to put into a separate brokerage account, not Discover related)? I didn't see anything explicit, just wondering if it's this easy to collect the bonus and not have to keep that much cash in the account [link] [comments]  |
| California: My car failed smog test, want to get rid of this garbage asap in cheapest way possible Posted: 01 Sep 2019 04:47 PM PDT As the title says, my year 2000 model VW just failed a smog test because the computer on the car's messed up and can't connect via OBD and bunch of weird smoke came out the exhaust. At this point I just wasted $98 for the test and I just spent about $500 fixing some broken oil pipes several month back and the car it self is only worth about $500. I absolutely despise this thing and if I could, I want to go get a sledge hammer and smash it to pieces myself. Anyway, I've now gotten a descent job and enough money to go buy a used 2015 accord or something. What I want to know is, what is the fastest and cost effective way to get rid of my trash VW. I live in California bay area and I need to submit my test result to DMV by Sep 12th. What is the best solution to get rid of the car? Sell it to the dealer as is, crush it in a junk yard, donate to some place? etc etc.. Any advice is fantastic! [link] [comments]  |
| Walked away from dad's insolvent "Estate" - now small check shows up Posted: 01 Sep 2019 07:18 AM PDT Hi all, Dad died in Feb of this year in Maryland without a will and with literally no assets. I consulted with Orphan's Court of MD and was told I am not obligated to do anything - so I walked away. Letters from creditors are answered by me stating that there is no estate, no probate, no executor, etc. Now a small check turns up that is made out to Estate of XY. I write back saying there is no estate and ask if they can make it out to me so that the sum will at least cover some of the funeral expenses I paid. They asked me to sign a notarized affidavit stating that I am entitled to the money. I am an only child, he was divorced. I am the "next in line". Anyway - if I sign this affidavit, does that mean I am automatically making myself an "executor" and therefore responsible with dealing with things such as dad's tax returns, etc? I live overseas, so getting a notarized affidavit would be a logistical task, and I want to make sure I am not getting myself into something I dont want, just so that I can at least partially cover the funeral. [link] [comments]  |
| Help Looking Over California Lease Agreement? Posted: 01 Sep 2019 08:04 PM PDT I will be renting a house with some friends and we found a good deal on Craigslist. Everything seems on the up and up but this is our first time renting and want to be sure we aren't somehow getting screwed. The management people showed us the house and said they are working for the owners of the house. It took less than 24 hours for the rental application to be approved and we requested to see the lease agreement below: So I was wondering if someone with more expertise could tell me if this looking like a legitimate and law-abiding agreement. I tried doing my best research but would like more help in looking this over. My only concerns are, 1. Shouldn't the lease term be on this? Such as one year? And 2. Isn't the Right of Access against the law? Thank you for any help. [link] [comments]  |
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