Personal Finance So payday loans are getting ridiculous |
- So payday loans are getting ridiculous
- [US] Refund given as a debit card; got it changed
- Retirement snuck up on us, we have no idea what we're doing, help?
- I just had a house built. The builder was responsible for paying the interest on the construction loan while the house was under construction. I found out they made a payment over 60 days late, which has affected my credit score. Is there a way this can be corrected?
- How do I handle 10+ years of not filing U.S. tax returns?
- Vanguard: I bought VGHCX but want to transfer to VTSAX for larger growth
- Am I supposed to feel like paying for college courses is a good use of money? Because I don't
- Parents are down between $180-$560 per WEEK. Unsure how to help.
- Suggestions Requested: Books for understanding Financial, Risk and other Finance concepts
- Is Writing a Check Without a Signature Fraud?
- When to declare bankruptcy.
- 19 year old getting a 20k bonus from the military. I don't know how to use it.
- Spiraling out of control after divorce
- What saves more interest in the long run? Paying curtailments loan near the end of its term vs earlier in the loan schedule
- I'm Mega Broke and it's starting to hit me hard.
- Might quit my full time job to go back to community college.
- Should I quit my job?
- CPA in Atlanta Area
- How bad is my insurance compared to other company insurance options?
- What do I do with $13k in savings?
- How much does it cost to own a house vs owning a mobile home?
| So payday loans are getting ridiculous Posted: 03 Dec 2019 10:50 AM PST So recently I've stumbled into credit problems due to not being able to pay for all of my daughter's unexpected medical bills and this month I accidentally paid in full one of my credit balances and realized I was not going to be able to pay this months mortgage. So I decided to go online and find a payday loan. They called and said I could get a loan for $1K (enough to pay this months mortgage) but that I would be charged $1,475 at the end of the month. I said wtf! And then they said, good news, you're recieving $25 off! I was like "Are you joking, I'm not interested" and hung up. So I got an email saying that my payment to my mortgage company went through so I'm guessing my bank paid it anyway. When I went online I found that many places are charging 300 to 600 percent interest! That's absurd! Talk about predatory, might as well go to a loan shark or something, Jesus! Edit: Apparently I was being charged 600% from this particular company, I had wrote 50% before but that was incorrect. [link] [comments]  |
| [US] Refund given as a debit card; got it changed Posted: 03 Dec 2019 07:10 AM PST I bought a brand-name electric shaver, it came with a 60-day money-back guarantee. I decided I did not like it enough to justify the $200, so I returned it. It got returned to a fulfillment center, and some weeks later I got a debit card in the mail. It was (according to its paperwork) loaded with the purchase price of the shaver, and included a 2-foot-wide "Prepaid card agreement", densely packed with terms and conditions that applied if I activated the card. Among the salient points: they would require me to provide information "such as" social security number, birth date, driver's license number, address, phone, and email. They would share any information required to "maintain my account", and I had no option to prevent this. They would continue to share this information after I no longer had any account with them. They would charge fees from a "fee list" which was not in the agreement. I would waive my right to sue them and agree to arbitration (there was an opt-out). I agreed to pay all costs connected with use of the card (I evidently don't have to be at fault for this). I must ensure that the card has an available balance of 20% over any purchase I make with it, essentially rendering $40 unavailable to me. There is no option to use the card in an ATM or otherwise get cash from the card. What a racket! So I called the shaver company to say I wanted the refund in a different form. Six minutes on hold, and they told me I would need to call the bank. I argued that I hadn't bought the shaver from the bank, and they told me that the fulfillment center was handling the refunds and I would really need to deal with them. So I called the number he provided; after a short wait (call early!), a woman came on the line and listened to my tale. She said she would cancel the card and they would send me a check, 7-10 business days. So it was much easier than I expected. I'm posting this so others might benefit -- rather than accept a debit card you're given for a (supposed) refund, you might be able to get a check instead. Read those agreements! [link] [comments]  |
| Retirement snuck up on us, we have no idea what we're doing, help? Posted: 03 Dec 2019 02:54 PM PST Forgive this Boomer, I am on mobile using speech to text so I'll do what I can. The wife has retired from her state job of 31 years and then she gave me an ultimatum, retire or go live on my sailboat alone. I love my boat but I love her just a little more. Her state pension is just over four grand a month, if Social Security is still there in a year it will add another two grand a month. I've been a beach bum my entire life so aside from my $40,000 sailboat, I don't have shit. She is 61, I am 58. Both of us are very good with money. Me because I've never had any and her, she's just not much into materialism. We have zero debt, no credit card debt just no debt. We're both pretty healthy, we have really good health insurance until we're at least 65. Her pension covers everything's on a monthly basis with about $1,500 left over. We're not jet-setters and aside from a trip to Iceland next summer, we don't really plan on doing much traveling. I've sailed my boat to Southeast Asia and back twice but my health won't let me try that again which was my original plan. And she's totally not into Crossing an ocean in a sailboat. Both of us retiring happen rather suddenly, within six weeks we were both done with work and now we wake up every morning wondering what the fuck we're going to do all day? We'll figure something out but until then... What do we do with this $100,000 we have in the 401K from her job? We don't need it, we're probably not going to be able to spend it but we would like it in a safe place with easy access? I've been lurking here for the last month and I've learned some things but I'm definitely not comfortable making any kind of decisions with that kind of money. HYSA? We recently sold the house, we're netting about a hundred and thirty thousand on that. We've had it for 21 years. We have a really nice rental here on the coast of Oregon that were trying to rent or lease long-term. If the landlord would sell it we would definitely buy it because it really suits our needs and it's $800 a month for a 3-bedroom on an acre within 2 miles of the beach, it doesn't get any better. We are kind of looking to buy another home but we're in no hurry. We have no one to leave any assets to, my daughter is taken care of and she's the only living heir to anything my wife and I own. So what do we do with that profit from the sale of the house? Again, we don't need it, we can't spend it, I just have no idea where to park it. And lurking here, I've gained a lot of respect for all you smart fuckers, you guys sent me to Wikipedia 10 times a day trying to figure out all your acronyms. Well that's the gist of it, and yeah, it's a great problem to have. I'm not going to lie, life is good. She did all of the right things for sure and I did the right thing half the time so we're good. I look forward to getting schooled, help! [link] [comments]  |
| Posted: 03 Dec 2019 07:54 AM PST I recently moved into a new home I had built with a large, well-known builder in Florida. They had a deal that if I went with one of their preferred lenders, the builder would pay the construction loan interest while the house was being built and pay my closing costs. I took the deal and got approved for a construction loan/mortgage through a local credit union/preferred lender. During the build process, the builder made one of the interest payments 60 days late. This just showed up on my credit score and had a significant negative impact. My question is: can this be corrected? Who would I contact? The lender or the builder? Can I file a dispute with the credit bureaus? Or am I S.O.L.? [link] [comments]  |
| How do I handle 10+ years of not filing U.S. tax returns? Posted: 03 Dec 2019 09:32 AM PST Hey all. Even though this is a throwaway account, I love this sub and I've learned a lot which I hope to use once my personal mess is sorted. Short story, I need to catch up on 12 years of not filing any tax returns. (Yes I know it's (I'm) dumb. It was like a decade of trauma and depression and I just kinda "dropped out" for a long while. I now have the courage to face this stuff instead of running away.) INFO ON PAST YEARS
WHAT I HAVE FOUND SO FAR Looks like I can recover lost W2s and 1099s by submitting a Request For Transcript of Tax Return (FORM 4506-T) for all the lost years of documents. MY QUESTIONS:
ADDITIONAL INFO ON CURRENT EMPLOYMENT STATUS AND RECENT ACTIVITY (last 24 months):
Thanks in advance for any guidance you can provide. [link] [comments]  |
| Vanguard: I bought VGHCX but want to transfer to VTSAX for larger growth Posted: 03 Dec 2019 03:49 PM PST Hi, I have some VGHCX and wanted to transfer to VTSAX. What is the best way to minimize paying taxes? Thanks! [link] [comments]  |
| Am I supposed to feel like paying for college courses is a good use of money? Because I don't Posted: 03 Dec 2019 06:31 PM PST Going to a community college for computer science, it's a transfer degree so I'll switch to a university in the near future. To be fair, I haven't spent anything out of pocket--yet. I've been able to pay for my classes at my CC through financial aid, and even have had a surplus of money each quarter that I save and use for textbooks and other school expenses if need be. With that being said, it still makes me cringe when I look at my account statement for any given quarter, where a programming class is just under $300, a math class is just under $500, etc. That's insane! My main reason for thinking how insane this is is because of things like the open source computer science degree. This is a list of free, online courses anyone can take to learn computer science, minus the piece of paper saying you have a degree at the end. I haven't gone too far into it, but the first class is the introduction to computer science from Harvard, and it's an impressively high quality class. So I hope it's understandable why I sit here and feel off about spending a few hundred dollars per class, per quarter on classes that are much less... quality. Now I still try to get what I can out of classes, but I can say with certainty, the knowledge I have about computer science came almost entirely from free content online. But at the same time, I can't just drop out of college and take online classes. Apparently having a degree is incredibly important, so I can't just go a different route. That's how I was raised, that's what people say and do so that's what I'm doing. But I feel off about it. I'm a frugal person and it feels wrong to spend so much money on things that I can get higher quality versions of online for free [link] [comments]  |
| Parents are down between $180-$560 per WEEK. Unsure how to help. Posted: 03 Dec 2019 07:56 PM PST My parents are earning significantly less than they used to but they're still stuck with debts (Home loan, Car Repairs Payment, Home Renovation Payment, Credit Card). It seems fine but large bills will pop up and they won't be able to afford it. Weekly expenses average (Sep/Oct/Nov): $1750 Weekly income average (Sep/Oct/Nov): $1550 (will drop to $1200). They've got a mess of bank accounts (Transactions/Bills/Loans/ect) so it took hours to track down transactions. Dad income: $920-$970/wk Mum income: $180-$480/wk My rent: $100/wk Weekly expenses: Loans $600 Interest $225 Fees $5 Home and car insurance $30 Internet $16 Phone bills $12 Cars Rego $65 Rates $35 Water $26 Electricity $29 Takeaway $23 (Uncommon) Appreance $50 (Uncommon) Cigarettes $150 Alcohol $125 Groceries $215 Petrol $42 Entertainment $6 Health $55 (Glasses) Misc $17 Union $12 Debts: Mortgage: 281k remaining @ 3.94% Credit Card: $6000 @ +20% Personal Loan: $6000 @ ~15% Car Repairs: $630 remaining ($80 week) I need a plan for how to help. Something needs to change before something bad happens. [link] [comments]  |
| Suggestions Requested: Books for understanding Financial, Risk and other Finance concepts Posted: 03 Dec 2019 07:48 PM PST Hello Reddit, I am from IT and work for a big Financial institution. Sometimes I find a little challenged while in discussions with Business Groups and now thinking of building my knowledge about Banking and Financial Industry from the ground up. Any suggestions of good blogs, sites and books that give some idea about Financial Risk, Market Risk, Credit Risk etc. That would be easy to understand for a newbie would be highly appreciated. [link] [comments]  |
| Is Writing a Check Without a Signature Fraud? Posted: 03 Dec 2019 07:34 PM PST I live in California and I recently moved out of an apartment and the person who I sublease under wrote me a check for my return deposit for $1200 without signing it. The person is not returning my call and left the apartment and I don't have the address except the person's old address on the check. What can I do about this? It is a felony? [link] [comments]  |
| Posted: 03 Dec 2019 02:29 PM PST I'll start off with numbers. Target: $4,496 Car loan: $6,203 Total. $27,286 Since those are out of the way. This person is really close to me and is asking for help. It's a lot to completely help her out financially. She wants to claim bankruptcy and I completely disagree with that move. She makes roughly $30,000/yr at a full time job and has a serving job that is once or twice a week and take home is close to $5,000 a year. Living expenses aren't too high. Rent is $420 and lives with a roommate. With all those numbers, what are the best options other than bankruptcy? [link] [comments]  |
| 19 year old getting a 20k bonus from the military. I don't know how to use it. Posted: 03 Dec 2019 09:40 AM PST I am 19 years old and I am going into basic training in 2 months. I signed up and received a 20 thousand dollar enlistment bonus. The bonus comes in 3 parts, 50% after basic training, 25% after 3 years, and the last 25% after 5 years. My contract is 6 years active duty national guard. I am going to a large university next year when I am out of basic training. I currently plan on working around 20 hours a week while in school at my part time retail job at 11 dollars an hour. I will be getting about 750 dollars a month from the military while enrolled in classes to help with the bills. So I'm guessing to have about 1300 dollars a month income. My question is should I use the 10k bonus as a payment for housing, either buying a trailer house for 5-7k, or use it as a down payment on an actual house. I currently and will be living with my brother as a roommate, we split the rent 50/50. I could possibly get another roommate to help cover the mortgage on the house, and save money. Or with the 10k I can save it in CDs and use some of it to buy a car, because my old beater is at 320k miles and I'm not sure how long it will last. I'm not getting a new car, just a decent used car with maybe 4wd for the long winter. So under 3k. I am going to be attending this college for 4 years, and maybe stay in the area another couple years, so if I were to invest in some real estate I could pay off quite a bit of the principle. The price of real estate has been going up fairly quickly in the area. I just dont know whether the 10k is enough of a down payment for the house, or if i should go with the trailer house, or even keep renting an apartment and save the 10k. I might be able to give 20k as a down payment if my brother and I could each chip in 5k on top. Just a young guy with little financial experience looking for advice. Thanks. [link] [comments]  |
| Spiraling out of control after divorce Posted: 03 Dec 2019 02:19 PM PST Throwaway, because I'm fucking embarrassed and mad. I was the owner of a small business making $140,000 a year. No serious debt. Then my son was injured and required round the clock care for 3 years. My wife and I divorced. I had to sell my business in the divorce. I've not landed on my feet well. I took some time off (1 year) to grieve my son and took up art in the process. Last January I attempted to start a new business that failed after 5 months; I don't think I was mentally ready. Presently my art sales are growing but it's been a year and a half now without substantial earnings. I owe a massive tax bill on the sale of the business ($30,000). I am paying $2,500 alimony a month. And now I have credit card debt ($20,000). Presently my earnings are around $3,500 per month. A year ago I was debt-free. I invested poorly in the new business and it cost me about $12,000. Alimony in total for 2 years has been $175,000. I've exhausted my savings. No other assets. I suppose I'm curious to know what I can do about the tax debt. And of course I need to find a new job but I've been self-employed for over 10 years. Maybe I just need a good hard slap in the face. I do have about another $60,000 in credit if I wanted to explore starting another business. I might finally have the fire in my gut that I need. It just feels risky at this point with interest growing with the federal government and eventually with credit cards. At the moment I am on 0% rate with the cards. Please advise. Thank you. [link] [comments]  |
| Posted: 03 Dec 2019 06:20 PM PST I've been looking into paying down debts, and looking at the amortization tables for a few loans has me scratching my head. I've always taken the approach of paying down/off loans with the highest interest rate first, but the way interest compounds over a long-term loan like a mortgage has me second-guessing that thought process. My question is: what would save the most interest over time? Putting curtailment payments toward: Loan with 6% interest rate, but only 18 months left on 72 month term so the payments are mostly principle compared to early in the payment schedule OR Mortgage with 4% interest rate, with 28 years left so the payments at this point are mostly interest instead of principle per the amortization schedule Is there something to the compounding interest that'd make it better to put those funds toward the mortgage while it's still early in the loan? Or am I totally overthinking this? [link] [comments]  |
| I'm Mega Broke and it's starting to hit me hard. Posted: 03 Dec 2019 06:16 PM PST I won't go into detail about what's going on for the sake of keeping this relatively short, but I'm 15 years old, I live in the PDX Area (Washington side), and the biggest part of my problem; I'm homeschooled. I've got advice on making money at this age but they all involve being public schooled. Examples being: Selling Candy at a small markup or being a referee for games like soccer or volleyball. I've also looked into getting a job but my crazy mother refuses to take me to get an ID and to assist me in getting a minors work permit so I can't do that either. I briefly did work for a member of my church but as anyone who lives in PDX knows, it rains A LOT during fall and winter and all the work the guy had for me requires being outside while it's warm and dry. If anyone here has any resources or ideas they could share I would really appreciate it. I'm also not 100% sure this is even the best place to ask so if there's a better sub to go to just tell me and I'll ask there instead. EDIT: I should add that at the moment, due to weather, I can't do manual labor. I did it throughout the summer and made a decent amount of money but now that fall is approaching I'm losing money faster than I make it because nobody is asking for/accepting offers for manual labor. [link] [comments]  |
| Might quit my full time job to go back to community college. Posted: 03 Dec 2019 08:23 PM PST I'm 22, no debt other than my car and insurance bills which is about $350 a month, I live with my family and currently work as an emission contractor at a chemical plant. I make $16 an hour and financially am doing okay though I need to cut back on some spending. I tried going back to school part time but my current job gives me a bit of a heavy workload and the times I get off work does not work out with the CC I want to attend. I like my job but it's does not align to the career I want, which is going for IT. Main reason I want to leave my current job is just the stress and tried asking to go back to another plant site which is less stressful but would have to see if they can transfer me back. Financial wise I have 1k in my savings and 1.3k in a CD which I'll get in the spring but I know I'll take on some student loans to pay for the schooling. I only plan to get a CTS at the CC which will cost less for me but I plan to get more IT certificates after I get my CTS. I am networking to get a decent paying part time jobs that'll cushion the loans I get and help pay for any additional bills. If I get any more updates if I am able to do part time at my current job (which is very unlikely) I'll come back and post about it. [link] [comments]  |
| Posted: 03 Dec 2019 05:45 PM PST I (16m) have recently begun a new job at a franchise food/entertainment place, I have done a really good job and proved myself, so I recently got a raise, (11$/hr currently) I have been told that the staff/ establishment would be more dependent on me and that I would probably soon get a promotion. However my dad has offered me a job at his company, where I would be making about the same, weekly with a significant reduction in time worked, going from 5 days a week to 2 weekdays and Saturdays. I would feel really guilty leaving my workplace because I know I'm playing a pretty crucial role as several of my coworkers have recently quit. My question is, should I take the job with my dad, make roughly the same weekly, or stay at my current place of work? My dad and mom are divorced, and he makes a decent living with his company. [link] [comments]  |
| Posted: 03 Dec 2019 07:54 PM PST Does anyone have a good CPA they can recommend in the Atlanta area? My taxes are going to be some what complicated this year as I quit a full time job and started working for myself. [link] [comments]  |
| How bad is my insurance compared to other company insurance options? Posted: 03 Dec 2019 07:30 PM PST I'm not sure how bad my coverage is, because every person I ask says they have terrible insurance. My premiums are around $500 a month. Insurance does not pay anything until I meet a $3850 deductible per person or $10000 for family. After that it pays 100%. No copays. Its 120-250 just to see a doctor for a cold until I meet the deductible. I have an HRA that my company puts $500 in, but when my kids get sick it doesn't last. I make decent money; however, I'm not sure how well my insurance is compared to other company plans. [link] [comments]  |
| What do I do with $13k in savings? Posted: 03 Dec 2019 07:02 PM PST I work full time making about $50k before taxes, just graduated last December, and my wife is a full time student in grad school graduating next December. She is in school for a specialized health career making easily $60k once she is out with a max possible salary of around $90k after about 10-15 years of being in the profession. I have about $5.2k in my 401k, 9% my own and 6% company match to equal 15%. I have an HSA with $2k as well. Our expenses right now are around only $2.2k a month thanks to cheap rent and very little eating out. We have a strict budget and know where every dollar goes and both of us have a very frugal mindset. Right now we have about $13k in a savings account and $6k in checking. We do not owe any debt from undergrad, but in all we will have about $40k in student debt from her grad school loans. Our plan is to live off of my salary like we are now once she graduates and get the debt down ASAP from the money she makes. Is this the best idea? Should I invest our savings into something that will make us money? Is there anything we can do right now to make money with investments while she is still in school for the next year? I just hate to see $13k sit in a savings account (will be about $19k once we get remainder of refund from loans in January), but don't know how to change that into an investment. [link] [comments]  |
| How much does it cost to own a house vs owning a mobile home? Posted: 03 Dec 2019 06:34 PM PST Im wondering what would have cheaper monthly bills if i bought a house outright (paid in full) or bought a mobile home (paid in full) outright. I know the mobile home would be the cheaper initial payment but why would my monthly bills be cheaper living in a mobile home vs living in a house if when u have a mobile home you have to pay for the plot to "install" it vs with a house you just pay uttilities. [link] [comments]  |
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