Personal Finance I'm 23 working a minimum wage job - $8. Should I save up or study in an open university while working? |
- I'm 23 working a minimum wage job - $8. Should I save up or study in an open university while working?
- Why do parents refuse to understand personal finance?
- Check cashing businesses charge 199% interest.
- Earlier pregnancy leave than anticipated help
- Update: Just got my W-2 and realized my boss has been paying off the books and pocketing my taxes
- Bought a used Car 11/4/19 but dealership never filed any paperwork and now asking me to come sign new paperwork. Can I renegotiate the price of the car?
- Will withdrawing around 12,000usd from an ATM in $1,000 increments within a week and a half cause suspicion? (South Korea)
- Starting Master's, am I able to put a hold on my undergraduate student's loan payments?
- Check your financial accounts even if you do not use it.
- I accidentally contributed to my Roth IRA for 2020 instead of 2019. Can I change it now?
- Claiming yourself as an 18 year old
- Total Stock Market Index vs S&P 500 Index
- Mr. Cooper giving me the run-around on escrow
- Confusion about mortgage interest deduction
- We are getting calls from my BIL’s debt collection attorneys
- Overfunded HSA in 2019 and used all of it for medical expenses
- Is it reasonable to buy a home without much money upfront?
- Did I get my personal information stolen by someone?
- My bank account was hacked AFTER I had already submitted my tax refund to be deposited to that (about to be closed) account. What to do?
- Need help with taxes after turning my life around.
- My HSA from my previous employer is paying a monthly service fee
- My entire tax return was eaten up by unpaid unemployment taxes. What can I do?
- Just learned I've been an authorized user on parent's credit card for 18 years today - how has this affected and how will it continue to affect my credit score?
- Can't get specific numbers on the profit I made from flipping digital codes, how do I file it on taxes?
| Posted: 04 Feb 2020 05:36 AM PST My father, which I really constantly disagree with, says I should work until I'm about 26 in my 9$/h job until have enough to study for 4 years in university. I just can't imagine doing absolutely nothing till then. I live in Israel (min wage is 9$/h, my rent is $430 per month while living with my parents) have no car, have a bare minimum education (no psychometry, and a barely passing high school diploma), served in the army for 3 years and didn't really do anything that benefits me post-service. So... what now? I have no connections, can barely afford therapy ($400 foue times a month) for social anxiety and have no money even for my hobbies (MMA, Singing - had to take a month break since I was earning less than I spent) - MMA is $150 eight times a month, Singing is $250, also four times a month. I feel like I'm stuck. I obviously quit MMA for now and reduced the amount of singing lessons. I don't pay for food and electricity at least, otherwise I don't think I'd save up anything. I currently have $6300 saved up, since 2018. Any suggestions? Edit: An open university requires no attendance, as there's almost nothing to attend for, and there are no deadlines. You can't fail this university, you simply pay for retaking the same courses that you failed. Some take 4 years, and some take 8, 10, 12, or even more. You can take it in your own pace while choosing with which subjects you start yourself. The catch is that you have no guidance, nor teachers that can help you. I'm surprisingly good at learning by myself. I actually have a harder time with teachers as they make me think I have a time limit to how long I can think, which makes me stressed, even when they tell me I can take my time. No teacher, eventually you WILL get pissed off, and that's all I can think about. I can't learn while someone has his attention on me. [link] [comments]  |
| Why do parents refuse to understand personal finance? Posted: 04 Feb 2020 10:54 AM PST School, and parents, were not able to teach me about personal finance. I was only able to get my finances in order when I did the research on my own. I'm actually on step 3 according to the wiki, and can move onto the next step this april. Sure the parents can do this too, yet they refuse? Talking to them about money is not working, there is zero listening involved, or they just insist it's ok. Cable bill is over 300 a month but retirement is not set up. Contant spontaneous purchasing to the point the house is floor cluttered. Eating out every month but with a lot of wasted groceries. This is all happening at a current negative net worth where the credit card debt negates the home equity. They are at what could be their financial retirement age, but without retirement set up. Although they won't say it, are they at the age where they are just saying screw it? [link] [comments]  |
| Check cashing businesses charge 199% interest. Posted: 04 Feb 2020 07:49 AM PST Been doing an IT upgrade for a check cashing place and couldn't believe how much they screw people. Today while doing this one this guy came in for a loan, said he was in the insurance and investment business. I thought who would take advice from a guy who can't even figure out they charge 199% or more interest. Just to cash a tax return check of $1000 they charge $30 when the Walmart next door charges $3.50. [link] [comments]  |
| Earlier pregnancy leave than anticipated help Posted: 04 Feb 2020 09:33 AM PST Hello and thank you for any advice. I am a Special Education teacher and am 6 months pregnant. After getting injured from a student (head butt and fall) and then re-injured from restraining a student, I was put on restrictions. Unfortunately, my school district decided to send me on leave early and not accommodate. I know my job is protected from FMLA and disability, but I am the bread winner and am very scared financially. I'm from South Texas and would love any advice for how I can get ANY job that will take me or if there are programs for people forced out of work due to pregnancy. I tried googling but I can't tell what is for regular disability or for pregnancy leave and in general am just scared and confused. Thank you for any advice! Edit: don't have disability insurance, restrictions were made by my OBGYN for my baby's protection, and I know many of your are saying lawyer..... any advice relating to financial services for pregnant women? [link] [comments]  |
| Update: Just got my W-2 and realized my boss has been paying off the books and pocketing my taxes Posted: 04 Feb 2020 07:48 PM PST TLDR; I didn't do anything about it because the IRS doesn't really care about anything under $200,000. I am feeling pretty sheepish right now. I know a lot of those who were kind enough to try to help me find a way to help myself won't like this. Honestly, I ended up doing nothing. There were a few reasons for this, mostly because the IRS doesn't really seem to care about people who make under $200,000. The "reward" doesn't apply to any whistleblower report for less than that. Truthfully, the more I looked into it the less I felt like anyone in the IRS cares. I don't have proof that anyone but me got screwed by my boss and that doesn't amount to a whole lot for the IRS. This brings me to the final reason I didn't report him: everyone else who works for him. I really don't want to mess with the other poor souls who work for this man. I know I should so he doesn't take advantage of them, but I really feel bad at even the thought of throwing those people's livelihoods into jeopardy. I want to thank everyone who took the time to give thoughtful advice. You are the reason this is such a great community to be a part of. For those of you that have made it this far: I am going to mess with my former boss a little in the hope that he will never do this again. I'll try to put a little scare in him. [link] [comments]  |
| Posted: 04 Feb 2020 09:46 AM PST So I purchased my first car on 11/4/19. It was a previously owned car so we did the whole song and dance and I bought it. Obviously, being my first car buying experience they were better dancers and took me for a higher price than I was expecting. I was frustrated after the fact but chalked it up as paying for a good life lesson, not like I lost thousands or my life savings. Semi-important note - I had recently moved so my drivers license shows my old address still. They said not a big deal, provide them a utility bill as proof of address and all is good. I provide that to my contact guy on 11/15. A month later I go to pay the sales tax and register/license the car and the DMV says no title has been transferred yet. I call the dealership and, "Whoops! We haven't got that done yet!" A week later that all gets resolved. I haven't received anything regarding the payment/loan but I assume it's delayed because they forgot to transfer the title so things will start in January. Nope. I got nothing, so finally I call the dealership and explain I'm just checking since I hadn't hear anything. "Whoops again! We forgot to notify you we needed a better picture of the envelope you sent for proof of address! So, now I've sent that over and confirmed everything is good to go but they are asking me to come resign the paperwork. Being my first car purchase, I didn't negotiate as well as someone with more experience would have. I tried to research before hand but being in there I still didn't avoid every trap they laid out. So I was wondering, am I able to renegotiate with them before resigning the paperwork? I've had the car almost three months and have put about 3k miles on it. [link] [comments]  |
| Posted: 04 Feb 2020 02:10 AM PST I moved to South Korea not even a week ago to study for the year. I'm currently trying to rent an apartment for my length of stay, but I'm unable to open a Korean bank account until 3/2. My deposit ($8400) and first month's rent ($450) will be in about a week and a half. Instead of doing a direct wire transfer from my USA bank to Korea (which would be costly in fees), I was thinking about withdrawing my daily limit ($1,000) in cash from ATMs until I have enough for my deposit and rent. Could this cause suspicion and possibly get me into trouble? [link] [comments]  |
| Starting Master's, am I able to put a hold on my undergraduate student's loan payments? Posted: 04 Feb 2020 06:50 AM PST So, I took a loan for my undergraduate, and I have about $23k left. I just started working towards my graduate studies, am I able to hold off on paying my student's loan? I am sure it will accrue interest, but I am confused if I should be working part-time and focusing on Master's, or should I keep working full-time and keep making monthly payments? What's the better option? My employer is paying for graduate studies, so I am not worried about a new loan. Thank you. [link] [comments]  |
| Check your financial accounts even if you do not use it. Posted: 04 Feb 2020 11:42 AM PST Hey everyone just a friendly reminder to check all your financial accounts at least once a week. I havent used my capital one card in over a month and just checked today to find a fraudulent charge that happened two days ago. It sucks it happened but more worried about what if I never caught this until it was time to pay my bill. Capital one fraudulent support was very helpful and friendly. So do yourself a favor and check your accounts. It takes a few minutes of a quick look and could save you the headache in the long run. Stay safe, secure, & vigilant PF people! [link] [comments]  |
| I accidentally contributed to my Roth IRA for 2020 instead of 2019. Can I change it now? Posted: 04 Feb 2020 05:10 PM PST Roth IRA at Vanguard. At this time of the year, when I contribute to your IRA, you can choose to have that count for 2019 or 2020 and I accidentally chose 2020. Can I retroactively change it now? [link] [comments]  |
| Claiming yourself as an 18 year old Posted: 04 Feb 2020 07:19 PM PST Brother moved out of parents house when he turned 18. He turned 18 on January 4th, 2019 and moved out January 6th or 7th, he's been staying with a friend since, from January 7th, 2019 through the entire year until December 31st. He graduated high school in June, not in college, and made over $14,000 throughout the year. Parents provided no support or housing other than the few days he lived at home in January. They claimed him as a dependent and he can't file his taxes. I'm 99% sure he's able to claim himself since he did not live with them for more than half the year and he provided more than half of his expenses, but I wanted to be sure before I start trying to straighten it out tomorrow. [link] [comments]  |
| Total Stock Market Index vs S&P 500 Index Posted: 04 Feb 2020 07:40 AM PST New to the investing game and wanting to utilize my brokerage account at Charles Schwab. Been asking around and it seems like I've been getting mixed opinions about investing in Total Stock Market Index and S&P 500 Index. Wondering what you guy's thoughts are and why you chose one or both. I'm focusing my brokerage account for more short term investing ranging to about 3-5 years (saving for a wedding and purchasing a house) [link] [comments]  |
| Mr. Cooper giving me the run-around on escrow Posted: 04 Feb 2020 12:56 PM PST I'm in the middle of mortgage hell. Backstory: My loan was sold by Cenlar to Mr. Cooper on 12/1 12/2 login to mr. Cooper and Make payment. 12/13-cenlar sends detailed escrow statement through 11/30. I reconcile this statement and agree. 12/17- escrow recalculated by Mr Cooper (they did this wrong and used 2018 tax rate instead of new tax bill....but I'll fix that later) 12/18-notification from Mr. Cooper of property tax payment to county. 1/1- payment made to Mr Cooper 1/6- escrow disbursement for 3 months of PMI, should only have been 2 according to my records. Since no payment was made by them in Dec. 1/17- new statement, I noticed escrow issue. 1/20-call to Mr Cooper about payment being incorrect. No solution 1/21- another call, no solution 1/23-anpther call, told a manager would be in touch. They never called back. 1/30- received notice of tax lein being placed on my home. 1/31-call to mr. Cooper, no solution. 2/1- mortgage payment made 2/3- on hold over an hour 2/4- call to Mr. Cooper. Am told Cenlar paid the taxes. Call Cenlar, "no, those were sent in escrow to Mr. Cooper as you can see from our statement"; call again to Mr cooper--the guy literally wouldn't answer my questions, kept insisting I refinance, went silent every time I mentioned wanting the check number for the taxes paid and would respond with "we will look into that and figure it out", also couldn't tell me where the escrow overage check is. What am I supposed to do? I'm in the process of filing a CFPB complaint...but the county is putting a lein on my house. [link] [comments]  |
| Confusion about mortgage interest deduction Posted: 04 Feb 2020 04:50 PM PST Hi All, Apologies for coming by and simply asking a question, but I'm hoping somebody can explain how mortgage deductions work, as I'm fundamentally misunderstanding how it works... My specific situation: Got married December 2019. New Wife sold her condo before moving in together in September... initially was purchased in 2016, so under the old 1 million limit. She moved into my condo, originally purchased July 2018, so under the new 750/ couple limit. We both paid interest which should be deductible, but how much? What is the limit (1 million/ couple or 750) when there are properties purchased at two different times? Very confusing and I'm not completely convinced that Turbotax etc. are doing this correctly... [link] [comments]  |
| We are getting calls from my BIL’s debt collection attorneys Posted: 04 Feb 2020 11:49 AM PST So we found out maybe 2 years ago that my BIL and his wife took out large loans to finance fertility treatments and are now dodging paying those loans after our entire family (my wife, his sister, and parents) started getting calls from a law firm looking for him. Just found out his folks got another call and VM and I'm just wondering... how long can one keep dodging a loan like this and what are possible consequences? Court date? Wage garnishment? And how can a law firm not find him? It's been at least two years! [link] [comments]  |
| Overfunded HSA in 2019 and used all of it for medical expenses Posted: 04 Feb 2020 10:39 AM PST Wife and I made a mistake last year and thought that her HSA through her own company was completely separate than mine. She switched over to a family HSA plan for 2019 (to cover our son) and I kept my individual HSA plan with my company. As you probably guessed, I just found out that our combined HSA accounts are overfunded by my contribution for 2019 (total overfund is $3500, since my wife maxed out her family HSA plan). The problem is we both spent our entire HSA balances on medical expenses last year (wasn't a good year). I am using turbo tax to file our joint taxes and the only options it gives me to remedy this situation is to either remove the excess funding by my filing date or leave the excess amount in my hsa account and incur a 6% excise tax for every year that the excess is in there (until the amount is fully removed). My question is, if the excess 2019 contribution has already been used for medical expenses, how do I remove it? My thinking is that I just choose the "withdrawal full amount" option and then figure out a way to claim it a extra income for 2019 (and pay taxes on it like normal income). I am not finding much online for this particular situation. [link] [comments]  |
| Is it reasonable to buy a home without much money upfront? Posted: 04 Feb 2020 08:01 PM PST So me and my girlfriend are currently renting a 2 bedroom student housing apartment, she just graduated in December and I'll graduate this upcoming December. Our combined rent, which includes electric, tv, internet, basically everything, is roughly $1300/month. Our lease is ending in July and our initial plan was to just move to a none student housing apartment where our total expenses would be around $1000/month. The more we've thought about it though, the more we've been interested in actually buying a home. There are homes where we live in the 100-125k range that would fit all of our needs so, if I'm not wrong, our total housing expenses would be $1200/month, give or take. My question is basically is this a good idea. For context, she makes about 40k/year and I make around 20k/year and pay nothing for tuition. My main hold up is that we won't have any ability to do a down payment or possibly other fees that come along with buying a home (I'm not educated enough to know what comes along with everything). By June, we could probably have about 5k saved up combined. Paying the mortgage and everything that comes along month to month won't be an issue, it's just the initial costs as we both have virtually nothing at the moment as we've just started making money. We would love to start looking and getting educated in what comes along with purchasing a home, we just want to know if it's feasible for us. [link] [comments]  |
| Did I get my personal information stolen by someone? Posted: 04 Feb 2020 07:57 PM PST Apologies in advance if this is the wrong sub. Last night I got an e-mail from Experian saying that I had one of my accounts at 99.32% used. This freaked me out. At the moment, I have only one line of credit and I and my SO have each a card linked to that line of credit. I log into Experian and find out that I have a credit card account with a limit of 10000, and it's maxed out at over 9900 dollars!!!!!! I never spent this money. Furthermore, this line of credit was reported from a bank that I stopped doing business with last year (all of my debts paid and accounts closed). Today I called the said bank (a small credit union) and ask them about this. They verify that I owe them nothing and that all of my accounts are indeed closed. I order a report from Experian so that I can begin to correct my credit history. Also, I disputed the new line of credit and another credit card opened in my name. Now, this evening I get a text message from the "Sportsman's Guide" saying that my order was received and that my stuff is on its way. I never ordered from any sportsman's guide store. Am I dealing with having my identity stolen??? If so, what is the best course of action??? (Edit) Also, how can I make it so that whenever anyone tries to open a line of credit in my name, my express permission is needed each and every time? I'm also going to check Trans Union as well. [link] [comments]  |
| Posted: 04 Feb 2020 05:34 PM PST Hey y'all. I got hit with a scam that I fell for (please, I'm already incredibly mad at myself about it because I genuinely thought I was smarter than that) and now my Discover bank account is entirely compromised. I've been on the phone with them a few times today, but I was wondering if anyone has any experience with having to close an account that's supposed to have their refund deposited to it in the future? [link] [comments]  |
| Need help with taxes after turning my life around. Posted: 04 Feb 2020 05:30 PM PST Ok so to be 100% honest and transparent I didn't file in 2017 and 2018 and I really don't know what to do. I've been trying to turn my life around after years of drug addiction and alcoholism to be honest I really don't remember the last 3 years because if I wasn't at work I was either high or drunk. I am now 100% sober now and trying to turn things around. And paying for my stupid mistakes from the last 3 to 5 years. My question is what do I need to do to file? Can I go to jail because of this? Edit: how do I get my missing w2 from the previous years. [link] [comments]  |
| My HSA from my previous employer is paying a monthly service fee Posted: 04 Feb 2020 07:22 AM PST I changed jobs 3 years ago. I had a HSA with my previous employer and my current one doesn't have a HSA option. My HSA balance is at ~$1200. Mistakenly, I just left it alone since then to accumulate because I was able to invest $300 of it. I logged in today to find out that I was paying $3/month in service fees which have been eating away at my balance. Are there any fee-free accounts I can transfer my balance to? If not, I see the only course of action is to prioritize making healthcare claims on this account until it's empty. [link] [comments]  |
| My entire tax return was eaten up by unpaid unemployment taxes. What can I do? Posted: 04 Feb 2020 07:08 PM PST I was excited this year to see that I would be receiving over $5,000 on my tax return.
I logged into Where's My Refund this morning to find that "my refund has been applied to a past due IRS tax obligation."
When I called the IRS for an explanation, the representative told me that it was because there was some information missing from my 2017 tax return. I somehow didn't report that I had earned unemployment in 2017, and am now being charged for it.
I earned ~$19,000 in unemployment in 2017. My entire $5,000 tax return was garnished because of this, and I still owe an additional $1,600.
Something really seems strange, as I've been unemployed 2 other times in the past and haven't had any issues with information missing from my tax filings. How/who can I have double-check this situation?
And is there anything I can do to make this less of a financial blow for me? [link] [comments]  |
| Posted: 04 Feb 2020 03:19 PM PST Long story short, I just did my taxes today via TurboTax and noticed after reviewing my financial information there was an open credit card account since 2002 with a credit limit of $18k and $1.5k balance on it. I am certain this balance is paid off in full, monthly, by said parent. Anyhow, I thought this was strange so I contacted my credit card to detect any type of fraud, and it turns out I have been an authorized user for one of my parents credit cards since then. Questions I had were: 1) Am I either being negatively or positively impacted by having this show up? 2) If I request to be removed as an authorized user, does this negatively impact my revolving utilization? Again, the card has never been delinquent and is always paid in full with a 0 balance to start the billing cycle (my parents passed down some fiscally responsible lifestyles) 3) The fact I am an authorized user, does this even impact me at all or does it simply allow me to be..."authorized" to make purchases with no impact to my credit? Thanks in advance, I just wanted to verify I'm doing everything right here and trying to identify where improvements can be made (or preventing any potential dings). For the record, I have an 800+ credit score with minimal credit card debt (paid off in full every month) and one car loan, if any of that info helps for context. Thanks [link] [comments]  |
| Posted: 04 Feb 2020 06:55 PM PST The amount is under $1000, probably around $800. I was dumb and spread out my spending and profits between a mess of 2 PayPal accounts (one being deleted) and cash profits. How do I clean this up so the IRS doesn't audit me or something? [link] [comments]  |
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