Personal Finance This article perfectly shows how Uber and Lyft are taking advantage of drivers that don't understand the real costs of the business. |
- This article perfectly shows how Uber and Lyft are taking advantage of drivers that don't understand the real costs of the business.
- Is it okay to lie about current salary when speaking with other companies?
- 25 y/o, $150 in checking acc, $34k in debt. I’m lost and could use some guidance
- Would it be better financially in the long run to buy a house in a cheaper area sooner or wait longer to buy in a more expensive area?
- Would you leave a job you like for an extra 15k/year?
- Wife got a breast pump in April. Company double charged our insurance, insurance paid one and rejected the other. Company have been sending us regular bills for the second one, each time we call and explain. Now they're sending it to collections. What do we do?
- First time home buyer
- Can someone explain the financials surrounding life insurance?
- Can't access a Paypal/Netflix with a reaccuring payment to cancel it
- If you had $5000 to invest into one fund in a Fidelity Roth IRA, aiming for super aggressive growth, which fund would you invest in? Assume all other accounts are already diversified, no debt, 401k funded, etc.
- Vehicle damaged in collision. Offending driver didn't stop. Significant repairs. Insurer says no ability to claim diminished value.
- Dad wants to use my credit to get loan for buying house
- Ally got rid of their commissions on stock trading
- Thinking of buying out of my apartment lease to move in with roommates for about half of what I currently pay for rent.
- Is it really possible to retire with $5 million in savings?
- Advice on how to maximize my current financial situation after hitting steps in prime directive
- Switched to new bank for SSDI and now that bank is taking ownership of one of my credit cards. Should I switch banks again? How do I deal with debt after becoming disabled?
- Does paying a large lump sum on your car loan decrease the interest you will pay from that point forward?
- A 7+ year old debt appeared on my credit report recently
- Promotion outside of annual appraisal cycle
- First job with benefits 401 enrollment vs 403(b)?
- Does the 19k per year limit for 401ks include your employers matching contribution? Or is that in addition to your own 19k / year?
- What makes more sense - 70K in NJ or 100K in NYC?
| Posted: 08 Oct 2019 11:38 AM PDT I happened upon this article about a driver talking about how much he makes driving for Uber and Lyft: https://www.businessinsider.com/uber-lyft-driver-how-much-money-2019-10#when-it-was-all-said-and-done-i-ended-the-week-making-25734-in-a-little-less-than-14-hours-on-the-job-8 In short, he says he made $257 over 13.75 hours of work, for almost $19 an hour. He later mentions expenses (like gas) but as an afterthought, not including it in the hourly wage. The federal mileage rate is $0.58 per mile. This represents the actual cost to you and your car per mile driven. The driver drove 291 miles for the work he mentioned, which translates into expenses of $169. This means his profit is only $88, for an hourly rate of $6.40. Yet reading the article, it all sounds super positive and awesome and gives the impression that it's a great side-gig. No, all you're doing is turning vehicle depreciation into cash. [link] [comments]  |
| Is it okay to lie about current salary when speaking with other companies? Posted: 08 Oct 2019 09:55 AM PDT I'm in the initial phases of potentially looking for a new role and I have a call coming up with a recruiter in a couple of hours. I want to be prepared to address my current salary should it come up and I figure it's probably pretty common practice to embellish that amount when asked that question. I'm currently at 62k/yr and looking for quite a big jump in a new role. I'd like to make somewhere around 80k/yr plus. This is factoring in my bonus, salary increase at year end, and pension which I am not fully vested in until next Sept 2020. If I were to leave my current role, it would have to be in the 80k+ range. Is it okay to say I make 72k/yr? I know it is illegal to share that information so I don't know how a company would ever figure that out. Just wanted some thoughts and any other considerations. [link] [comments]  |
| 25 y/o, $150 in checking acc, $34k in debt. I’m lost and could use some guidance Posted: 08 Oct 2019 06:33 PM PDT I still can't believe I'm this deep in debt.. 3 years ago, I had $7,000 in my checking account and I didn't owe anybody a cent. I wish I could go back and do things differently.. Here's my situation. I don't have a college degree. I'm working a day job bringing in around $1,700 per month. I do deliveries on the side and can bring in maybe another $200 per month if I'm lucky, sometimes less, sometimes a little more. With my car payment, insurance, rent, utilities and auto-payments I have set up, I'm paying $1,400 per month. The rest of my money goes mostly to gas and groceries. The biggest chunks of my debt are my car loan, which was for $32,000 (Still owe $16k). A personal loan for $10,000 (Still owe 8k). And my 2 credit cards (Still owe 9k) I don't have any savings. I'm pinching pennies now trying to stay afloat but I honestly don't have a clue what I'm doing. I was thinking of taking out another loan to consolidate my debt, but I don't think I'd be able to afford the payment. I'm honestly too scared to look at the numbers to even see. I'm doing everything I can in terms of saving where I can now like unsubscribing from stuff, cooking my own food, and even giving up my dog. My CC payment is 2 weeks late, and I can't afford the minimum payment anymore. They keep calling me but I haven't answered them.. I don't know what to tell them. If you were in my shoes, what would you do? [link] [comments]  |
| Posted: 08 Oct 2019 06:08 AM PDT Hello all, First, let me say that I am YEARS away from buying a house either way. I am hopelessly single which means doing this on only one income, but I digress. I am just trying to get some sort of a plan together. Houses in the city I live in average about 400K each. Houses in the neighboring city are about 300K each. Houses in a city about 30 minutes away are 200K each. I'd be able to afford a house in the further away city sooner. Also, further away city has a culture/environment that matches my personality a lot more than where I currently live. But that does mean my commute going from "I can walk to work" to "I need to drive 30 minutes each way to work." But again, I digress. Just looking at it from a financial angle. Thank you. [link] [comments]  |
| Would you leave a job you like for an extra 15k/year? Posted: 08 Oct 2019 04:28 PM PDT Sorry if this isn't the right place but i could use some input. Please let me know if additional information is needed. I'm an IT manager making 110. I was referred by a friend and met with the hiring manager for a job at another company. They sent an offer for 125. Its also a bigger company and should have more opportunities in the long run. I really enjoy my current job and the people that i work with are great. I've been at the same company for about 15 years. That's virtually my entire career. So part of the hesitation is probably just fear of the unknown. Part of it is leaving the great friends I've made here. I need to make a decision soon but I'm having a really hard time with it. Edit: i should also mention that my business unit is suffering financially. I see maybe 2 more years of runway. [link] [comments]  |
| Posted: 08 Oct 2019 05:51 PM PDT Each time they've sent a bill my wife has called and explained the double billing and someone has said "ok no problem, I'll fix that for you" and then we get another bill. The last bill we got maybe six weeks ago, she called them and got them on a three way call with our insurance, and they got it all squared away, the company agreed there was a billing error and said we would receive nothing further. Today we received "FINAL NOTICE" that the bill is going to collections in 30 days. I am going to call them tomorrow, are there any key words I should be aware of or any procedures I can request/threats I can make to get them to finally correct their system and not send this to collections? [link] [comments]  |
| Posted: 08 Oct 2019 06:43 PM PDT My wife and I are first time home buyers and we were hoping to get some advice on the do's and don'ts of buying a home. I know some of the basics but was hoping get a little more advice about what to look out for as far as hidden costs, closing costs, etc. I just don't want to get screwed over on my first house. [link] [comments]  |
| Can someone explain the financials surrounding life insurance? Posted: 08 Oct 2019 01:05 PM PDT My friends and I are all early-mid 20s, working good jobs with 401ks and all that. I'd say we're all pretty financially conscious (by our standards lol). We're unmarried and don't have any kids/dependents. A couple of my friends have start paying for whole life insurance. They say some stuff about paying the monthly premium for 15 years then being set for life and being able to cash out a very decent amount at retirement. I understand life insurance in terms of your family/dependents on your income receiving support once you pass away. But how does everything generally work in terms of taking money/loans out of your policy, taxes, etc.? Is it worth paying something like $250/mo for 10-15 years? Can't that money be put somewhere more profitable? I don't know where else to look for answers. My friends said I can talk to their agent but he'd make commission off of me so no lol. Everything online is vague and doesn't answer my questions. Any clarity/info on the financials surrounding life insurance is appreciated! [link] [comments]  |
| Can't access a Paypal/Netflix with a reaccuring payment to cancel it Posted: 08 Oct 2019 04:22 PM PDT Recently made a Netflix account and a Paypal account with the same email that I've since forgotten (I'm an Idiot). My plea for advice being, is there anyway to find my Paypal account based on the Card linked to it. Or alternatively, if I cancel the linked card will it stop the payment and will I face reprocussions for doing this. Really desperate since I can't afford to have this come out of my account again. (Really hope this is an ok place for this, and tell me if theres a better place) [link] [comments]  |
| Posted: 08 Oct 2019 03:11 PM PDT |
| Posted: 08 Oct 2019 11:55 AM PDT My vehicle (2018 model year, $45k MSRP) was parallel-parked legally in a painted parking spot. A driver traveling the wrong direction in the adjacent lane hit my front bumper, fender, wheel and mirror. Police wrote up a report. Insurance is handling everything, outside of my deductible. Several body parts of the vehicle are being replaced including the wheel, tire, bumper, fender, sensors, and automatic mirror. Insurance company is saying there is no ability to claim diminished value because there's no offending party to go after. They say this is a law in the state of Florida. This is my first wreck, and first time ever communicating with my insurance company. Am I out of luck? [link] [comments]  |
| Dad wants to use my credit to get loan for buying house Posted: 08 Oct 2019 12:25 PM PDT He told me he'd switch it under his name once it goes through and that he can't use his credit cause it's terrible. I don't want them destroying my credit, how much will this negatively impact me? He said that because I live under his roof I have no choice [link] [comments]  |
| Ally got rid of their commissions on stock trading Posted: 08 Oct 2019 02:43 PM PDT Just another reason I love Ally, and if you're looking to switch banks, consider them. [link] [comments]  |
| Posted: 08 Oct 2019 07:52 PM PDT The math is pretty clear, at the moment I am just about breaking even with all my bills and barely anything is going into savings. The buy out will cost me about 3/4 of my current total savings but I will be able to recoup that amount in about 2 months after moving into the new place and continue to save a substantial amount after that on a monthly basis. Like I said the math is clear, but I am worried I am not thinking about other aspects of the moving process. Has anyone ever been in a similar situation? Is there anything I am overlooking? I know this is very broad but I'm looking for any general advice and/or suggestions. It seems like the right thing to do but something keeps nagging at me and I guess I am looking for that extra push to make sure I am making an informed decision. Thanks in advance! [link] [comments]  |
| Is it really possible to retire with $5 million in savings? Posted: 08 Oct 2019 12:20 PM PDT I really know next to nothing about investing and financing, but I just did Dave Ramsey's investment calculator and it said if I work for 41 more years with a monthly contribution of $500 and an annual return of 12% (based on the average 30 year return of the S&P 500) that I could retire with 5.7 million dollars. Is that oversimplified or actually possible? Source: https://www.daveramsey.com/smartvestor/investment-calculator [link] [comments]  |
| Advice on how to maximize my current financial situation after hitting steps in prime directive Posted: 08 Oct 2019 02:06 PM PDT Hi. Longtime reader. The knowledge I've gained in this subreddit has been tremendous. This community has been awesome. I'm in a fortunate situation where I don't have any debt and some money saved up. Right now, I'm not sure how to maximize my current financial situation and at my age I feel like I need to be maximizing for my future and catching up for my lack of savings during the past 3-5 years. I've followed the prime directive flowchart and I believe I'm hitting all the steps. I still have some questions and any feedback/guidance is greatly appreciated, including on my financial perspectives. Personal details:
Financial details
Plans going forward:
Work has Fidelity with fairly good options
Questions:
[link] [comments]  |
| Posted: 08 Oct 2019 06:35 PM PDT I was hospitalized and became disabled in March of this year. I haven't had any income since then and my application for SSI/SSDI was just approved in the past few weeks. My finances are in horrible shape at the moment and I haven't been able to deal with any of it other than explaining to my credit card companies and bank what the situation is. I ended up switching to an "internet bank" because I was declined by other banks trying to open an account for my Social Security direct deposit. I've received some money for back pay but my regular benefits haven't started yet. I recently received something in the mail informing me that the company I now bank with is taking over ownership of a credit card I owe on. I like this new bank but this makes me feel a bit uncomfortable. I've read about Social Security benefits being protected but I'm concerned they could make things difficult. I'm wondering if I should just switch banks to play it safe or if I should just stay put and see if I can work something out with them when the changes occur. Would it be best to stay put and work thing out or to get away before it's too late? From the way things look, it will probably be about a month before my benefits payments begin and even then I won't be receiving much to live off of and pay down debt. I would appreciate any pointers on how to deal with the rest of my debt that's grown over the past several months. [link] [comments]  |
| Posted: 08 Oct 2019 04:57 PM PDT My understanding of car loans is that paying a large lump sum very early in the payment schedule will decrease the principal. When they calculate how much interest you owe the next month, that amount will be lower since you owe them less money. Therefore, you will pay less interest overall. My friend says that unless you pay off the ENTIRE loan in one go, they will not recalculate the amount of interest owed and you will still pay the same amount of interest that was originally on your 'amortization schedule'. Therefore, according to him, if you are trying to pay off a car loan fast, you are better off saving your money and accruing interest on it in your own money market account, etc. until you have sufficient funds to completely pay off the loan. Please help? [link] [comments]  |
| A 7+ year old debt appeared on my credit report recently Posted: 08 Oct 2019 06:24 AM PDT A debt from 7+ years ago (US Cellular) appeared on my credit report within the last month, and it appears to have gone into collections. I've tried disputing it twice based on the fact that it's past the SOL, but each time it came back verified. Do I have any recourse other than contacting the collection agency and trying to come to an agreement? [link] [comments]  |
| Promotion outside of annual appraisal cycle Posted: 08 Oct 2019 04:15 PM PDT So I've been working for this large fortune 500 company for a year and a half now. I know I've clearly been doing well and had a strong performance review this past summer when I completed 1 year. I wasn't given a big raise, just kudos and some extra stocks with a long vesting period. My manager recently told me that I'll be taking on additional team level responsibilities beyond my product. I welcome the trust and added responsibilities I've been given, but they said they wont be changing my title and didn't talk about a raise. Since our review cycle is during the summers, I was wondering if I should basically suck up and accept more work for the same pay and title until next summer, or push to get a raise right now. What's your experience been asking for a promotion outside the normal appraisal cycle at large companies? [link] [comments]  |
| First job with benefits 401 enrollment vs 403(b)? Posted: 08 Oct 2019 04:13 PM PDT I am 25 and have recently been hired for a position that offers a 401 pension plan, requiring 6.5% minimum employee contribution with 9% employer match. There is also an option to enroll in a 403(b). I am a teacher and the current position I hold I only see myself staying in for 1-2 years max. Once I find a full time teaching position it will have a different pension plan from the current one that I would be investing in. My question, is it worth investing in this pension plan if it is only for a short time? Or would it be better to enroll in the 403(b)? Or both? Neither? My knowledge of both these options is lacking. The 403(b) to me seems like the better option because I can choose how much I want to invest. I have also heard pension plans for teachers at some schools running out. Any information about how 401 and 403(b)'s work as well as pointing me in the right direction to plan for my future would be greatly appreciated. If any other information is needed I will try my best to supply it. Thank you. [link] [comments]  |
| Posted: 08 Oct 2019 05:43 PM PDT |
| What makes more sense - 70K in NJ or 100K in NYC? Posted: 08 Oct 2019 07:51 PM PDT I'm currently comparing two jobs. One is in NJ, has a salary of 70K, and is 30-40 mins from my house where I pay $350 everything included because thx parents. I've lived on my own before and don't mind living with them. The other one is in NYC and pays 100K plus an unknown bonus. One way commute would be a total of 1.5 hours and it would be through public transportation unless I move closer or into NYC, which will then cost whatever an apartment or room costs. What makes more sense? [link] [comments]  |
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