Personal Finance My scummy finance company will not accept a lump sump payment toward the principal on my auto loan. |
- My scummy finance company will not accept a lump sump payment toward the principal on my auto loan.
- What is your opinion on Dave Ramsey advice?
- What has happened since the Equifax breach?
- Can I afford a house on a single income?
- So my boss quit two weeks ago and have been and given a raise, but not what I wanted
- Traditional IRA
- Job wants me to temporarily work a higher position without corresponding pay
- Bank of the West lies about closing your account. They bring it to a zero balance and hope for forgotten-to-cancel/transfer subscriptions to collect overdraft fees on.
- I start a new job in one month, don't get paid until 2 months. Have $100 right now, what should I do?
- Overdraft charges are killing me
- W4 is driving me crazy!!!
- We owe $1500 in taxes. Can we open a traditional IRA now for 2019 to reduce taxable income?
- US Citizen Living Abroad Seeking Investment Advice
- When will the Equifax Settlement 3-bureau credit monitoring via Experian be available?
- Nepotism and Being Offered Ownership in a small/micro Family Business. Am I getting the short end of the stick?
- JPM(CPC) vs Vanguard / Fidelity / Schwab after the lower ETF announcement. Plz share your experiences if you have one, or any feedback
- Best savings accounts for trust?
- What are my options of having a savings account whose interest rate is not 0.01% as a non resident living in the United States?
- Debt Collections by Six Flags
- Panicking because my employer gave me a 1099-Misc, not a W-2 when I am a full-time employee!
- Wife never filed taxes
- Effects on mortgage approval switching from W2 to 1099
- Forgot to add a W2 to my taxes. Refund has already been approved. What next?
- Should you buy life insurance from multiple companies?
| My scummy finance company will not accept a lump sump payment toward the principal on my auto loan. Posted: 02 Feb 2020 12:30 PM PST Throwaway account because personal. I purchased a vehicle last April for $10,000. Zero down. I finished paying off a previous auto loan a few months prior. The lender holds the title to the previous vehicle as collateral. I was informed prior to purchase that it would not be an issue to refinance once the balance was lower to get the title. Earlier this month I contacted them inquiring about refinance options. My remaining balance is $8853. I would like to pay $7000 toward the principal and refinance the remaining $1853 for 36 months. I was told that my best option is to make bigger payments or double payments to reduce the principle. My interest rate is 30.42%. So far I have applied for the $1800 loan with a local credit union and was denied due to current collection actions. I don't want to keep applying for credit as I have been working on my credit for the past 4 years and my score is the best it has ever been. Any advice would be greatly appreciated. [link] [comments]  |
| What is your opinion on Dave Ramsey advice? Posted: 02 Feb 2020 11:43 AM PST This man sounded like the source of truth in my early 20s, when I was making irrational financial decisions and thinking that borrowing money for new toys to build credit was logical. I still agree with him on that aspect but it seems he's geared more towards people who continue to do that throughout their entire life. Once I arrived at him advising on purchasing a house in cash, he lost me. The world seems more centered around a good debt VS income balance until retirement. How would a young person reason out living in an apartment for 15 - 20 years to save up cash for a house? That's asking someone to spend almost 200k on something they will never own, not invest any of that savings over the years, then spend another 150k in cash or more on a home (depending on the economy and appreciation during that time), while having no credit score and no equity to their name. Fast forward to the future - you're now almost 50 (possibly dead or sick with medical debt) with a zero balance to your name and 150k that could have been invested or put towards retirement but was dumped in apartments. What are your thoughts on what to do after someone has started a career and paid off bad debt, such as a vehicle? [link] [comments]  |
| What has happened since the Equifax breach? Posted: 02 Feb 2020 07:45 PM PST It just seems like everyone forgot about it, and I haven't heard anything about it since 2018. Did they ever make a legitimate website to check if you got breached? I did the same as most people and froze my credit back then. Did anyone get punished? [link] [comments]  |
| Can I afford a house on a single income? Posted: 02 Feb 2020 08:29 AM PST I'd be looking in the Syracuse, NY area and surrounding suburbs. 30yo M and I make 65k a year and that will probably be the top of my salary (NYS employee), other than the annual 2% raises. I have no debts, and my only monthly payment is my car insurance ($70) and phone bill ($50). My car is pretty solid too, it's a Toyota with 48k miles and I keep up on maintenance so I'm hoping it will last me a few more years at least. I currently have 40k in savings, 45k in my Roth, and 60k in various individual brokerages. Ideally I don't want to touch my investments though and want to save those for retirement, only using it in an absolute emergency. I'm also a first time home buyer so I'm hoping I'd qualify for a first time grant to help with closing costs. I'm trying to keep the house price between 100-150k, though I'm wondering if I can go up to 200k if I save a little more [link] [comments]  |
| So my boss quit two weeks ago and have been and given a raise, but not what I wanted Posted: 02 Feb 2020 02:34 PM PST Link to previous thread: https://www.reddit.com/r/personalfinance/comments/dkcqna/in_the_position_to_quit_any_advice/ long story short, I didnt get the initial raise that I wanted. I make 68K atm. My coworkers who have the same skill set as I do, (I was originally hired as an intern) and I do more work then some of them make 85K+. Now my boss has quit, and my superior offered me 78K. I was asking for 80k before my boss left. Now that he's left and I have inherited all his work including working on weekends and after hours, I feel that I am constantly being sleighed, as I feel I should be in the ~90k range at this point. I have a meeting tomorrow morning to discuss the raise/accept. How should I proceed with this? I really like the company, except for the difference in pay grade. [link] [comments]  |
| Posted: 02 Feb 2020 06:07 PM PST Is there any point in contributing to a traditional IRA if your MAGI (with spouse) is above $104k? We both have 401k's at work. If I can't deduct the contributions from my taxes wouldn't that be double tax (contributing with post tax money, and then paying taxes on the distributions when I retire)? [link] [comments]  |
| Job wants me to temporarily work a higher position without corresponding pay Posted: 02 Feb 2020 06:38 PM PST I'm currently working at a retail store as a regular associate. I get notified by an assistant manager that they want me to cover a department manager while he's on vacation for two weeks. Keep in mind they're telling me this a day before the guy leaves on vacation giving me absolutely no time to learn his tasks. And every task has to be completed by a certain day of the week. It's a lot. I've never had trouble learning new things but this seems really unreasonable, especially since there's no other department manager that can help guide me for the first 3 hours of my shift every day. Here's my biggest issue, though. I kindly asked the assistant manager if I'd be getting payed more to do this and he laughed a bit, taking it as if I was joking. I'm getting absolutely no extra pay, bonus, or benefit from this. Just more stress that I don't need. How should I address this? Is it fair that they won't be paying me more simply because this is a temporary thing, though it's two weeks of hard work? Is there anything I can do to be compensated for the extra work? I'm thinking of reaching out to Human Resources but don't know if it's be the best course of action. Thanks in advance. [link] [comments]  |
| Posted: 02 Feb 2020 08:34 PM PST A few hours after closing the accounts I was relieved that I couldn't sign in to their mobile app because I figured it meant that it was successfully closed. I accidentally/reflexively signed into the Bank of the West App a few weeks later while trying to look at my new bank's mobile app and was disappointed to get this screen: https://imgur.com/AlAKSBl(it says checking is $-70) 5 minutes later I signed in again and got this o.0???????: https://imgur.com/MTNqaYU(it just says I have no accounts) It's back to the $-70 checking account right now and I wouldn't be surprised if the automatic monthly transfer from savings to checking that I had set up before I closed both accounts "overdraws" my closed account more. Slimy jerks don't put the word "closed" on the receipts: ^^I guess it's all my fault though since, even though the teller assured me at least 3 times it's closed, one of the receipts they gave me states "Transaction is subject to verification." *eye roll* [link] [comments]  |
| Posted: 02 Feb 2020 06:18 PM PST So yeah I start a job in one month, the last job was screwing everyone over. I start working in one month, and don't get paid until one month in. I have $100 right now, I'm sure I can make it last buy I want some advice on how to handle it [link] [comments]  |
| Overdraft charges are killing me Posted: 02 Feb 2020 10:18 AM PST Hey guys hope all is well. Without giving 1000 excuses as to why, but i'm quite badly in debt. I have racked about £5000 in my overdraft. And 2 loans of £3500 and £2500. I am making the loan payments fine and just about scrape to the end of the month but then a big chunk of overdraft charges are taken around £90. This is too much for me and i'm struggling to get my. The second loan I took out was partly to help me stay afloat with all these charges. Now, as I mentioned I can make the loan payments and other expenses I have. I can probably afford about £50 to contribute to the overdraft to reduce it but the charges are forever keeping me in the overdraft. I made some bad decisions and trying to rectify my situation. How can I go about repaying my overdraft with these constant charges? Any advice would be appreciated!! Overdraft is with Barclays, UK [link] [comments]  |
| Posted: 02 Feb 2020 02:47 PM PST Hi, so I recently started a new job and I'm having trouble filling out my W-4. I have 2 jobs which total to me making 86,000. I don't want to owe any taxes next year. Right now I filled out my W-4s as single with 0 exemptions for each job. Do I need to have anything additional withheld? If so can someone please help me figure it out! [link] [comments]  |
| We owe $1500 in taxes. Can we open a traditional IRA now for 2019 to reduce taxable income? Posted: 02 Feb 2020 01:24 PM PST We just started trying to get our finances under control a few months ago and are still figuring things out. Combined $170k income (gross). I pay into a pension and have a 401a and 457. My spouse just started his 401k a few months ago and is trying to catch up. No IRAs. We ended up owing $1500 on federal taxes. Can we open a traditional IRA now and max it out, and reduce our taxable income for 2019? [link] [comments]  |
| US Citizen Living Abroad Seeking Investment Advice Posted: 02 Feb 2020 07:52 PM PST Hi all, first post in this subreddit so I hope I'm doing this right ;) Long message incoming... I'm (embarrassingly) learning only recently about investments and retirement, of which I have yet to start. My mother immigrated from Vietnam and worked odd jobs and has no idea about finances in the US, so I'm hoping people of the interwebz can guide me in the right direction – although I realise my situation is quite complex. Sorry in advance if I have some silly wording – it's all new to me! TLDR below. ---------- Background: I'm a 29 year old US Citizen who has been living abroad since I graduated uni in 2013. After uni, I got a job offer abroad and have pretty much been living and working in Germany, The Netherlands, and the UK my entire career. I have accumulated some pension in each of these countries. But as I've given up residency in all countries (which forces me to close attached foreign bank accounts), I've just kept a savings in my US bank account. In between working, I've taken about 2.5 years off in total to volunteer in Kyrgyzstan and Nepal. During this time, I have lived off of my savings, which you can imagine ate up quite a bit of what I had. Today, I have around $40k US sitting in my savings, and after finding out most of my friends have had their parents open a Roth or some kind of retirement for them at a young age, I fear that I'm quite behind. Here is where things get a little complicated: I currently live in Australia and freelance remote for a German company under my US account (I have an immigration lawyer and a US tax accountant who ensure my work situations are always legal btw, and I still file US taxes every year I'm abroad). In 2 months, I am getting married to my partner (who is a New Zealand citizen) where we plan to move back to in a few years. From there, I will claim New Zealand citizenship and consider renouncing US citizenship. My questions are: • Considering my situation, are there any options I can invest in where I would be able to close or take the money out in about 5-10 years? • Is it even worth looking into something seeing as I plan to give up US citizenship? • Any other suggestions or ideas so that my money isn't just "sitting in my savings"? ---------- TLDR: US Citizen living abroad seeking advice on growing $40k in savings (both foreign earned and US earned) that is sitting in her US bank account. Keeping in mind that she plans to give up US citizenship in 5-10 years. [link] [comments]  |
| When will the Equifax Settlement 3-bureau credit monitoring via Experian be available? Posted: 02 Feb 2020 03:50 PM PST Any news on this? I think we (those who submitted a claim) are supposed to get some sort of code, that'll let us claim the free 3-bureau credit monitoring with Experian. But I haven't gotten any email from Equifax about it. I tried googling, but there's very little info on this (as of today). [link] [comments]  |
| Posted: 02 Feb 2020 02:10 PM PST Hello, I've been reading posts on people getting ownership offers from their employers on here and have learned a lot. Thanks so much for all your great insights. I'm hoping I can mine the knowledge of the great people here regarding my specific situation that involves family and, of course, nepotism. :) Sorry for the wall of text! My boss is offering me and another senior manager—her daughter—10% of the company (each) contingent on achieving a $5m revenue goal within 5 years or so. My boss has described the offer as a gift for our sweat equity in building the company during our tenure, so there is no buy-in required from either of us. The offer is the result of conversation over the past several years regarding my boss's succession plans. These conversations have tended to be at my urging to help me decide if I should stay with the company or move on to other opportunities. This offer has all been verbal conversation so far, and nothing written. My boss is asking for a verbal agreement before any paperwork is drafted (her reason being to not proceed with paying attorneys to draft deal if I'm not on board). My boss is requesting that if we are on board that both myself and the daughter be involved in the legal discussions and process with the attorney. I get the sense that this is new to her, so we are all wading through the waters together, cautiously. I'm struggling with reconciling an objective view of the offer (and my potential to earn more with other opportunities), with a largely emotional view of the daughter's involvement and how it affects my perception of the deal/offer. I believe very much in the mission and opportunity of my boss and the company, but my straining relationship with the boss's daughter is affecting my desire to stay. I'm hoping some of you more experienced people (in business and finance) can help provide some insights on things I should be considering, questions I should be asking, and even potential angles for negotiation. It's difficult to see the label from inside the bottle. TLDR: My boss is offering me and her daughter 10% of her company. I don't agree with the daughter's work ethic and am considering either renegotiating my part of the deal or leaving the company to increase my earning potential. I'm 13 years into a company and am also concerned that staying too long with one company could make me difficult to hire for future opportunities. I'm hoping some of you can provide some food for though on if getting involved in a family business as a non-family member is a good idea, if the offer is good considering the family aspect... or if I should just move on. Background: I work for a 30-year, privately held (S-Corp) marketing services and business management firm where I joined right after graduating college. I'm the longest tenured employee at 13 years (I'm 37 years old). When I started, there were only four employees (including owner), now we float between 9-11 employees on average. My boss currently owns 100% of the company with no other partners or shareholders. About the Company:
About the Offer:
About me/my role:
About the Daughter:
Other Factors:
I believe the daughter is getting a sweeter deal because of her relationship to her mother/the boss. Is the 10% offer worth going into business with this family, or should I start looking for other opportunities now? [link] [comments]  |
| Posted: 02 Feb 2020 05:42 PM PST Hi, essentially just wanting to get more opinions. Here's the general fee schedule from their website at CPC. https://smartasset.com/financial-advisor/jp-morgan-wealth-management-review Would love to know your experiences switching from Chase to anything else. If it's one of the 3 listed above, definitely more interested. I appreciate the forum and any replies! Thank you! [link] [comments]  |
| Best savings accounts for trust? Posted: 02 Feb 2020 03:14 PM PST My mother is the trustee on my grandma's irrevocable trust. We have 400k sitting in a chase trust savings acct making .02%...aka dismal. However, it seems none of the HYS accts everyone advertises can be opened with a trust. Am I limited to some crap rate because it's a trust?This money could be needed at any time for health expenses (gma is declining and entering dimentia/alzheimers), so not looking for brokerage here, just savings accounts or other very safe amd short term accounts. Does anyone know of good savings accounts for trusts? Thanks [link] [comments]  |
| Posted: 02 Feb 2020 05:19 PM PST I've been looking at high yield accounts but I never applied online since they require me to be a resident or a citizen. I do know that I'd need to go to a physical branch in order to get one opened, but the banks I've been looking at (Amex, Marcus by Goldman Sachs) don't have branches that I can go to. Is there anything else that I can do or am I stuck with the small interest rates I'd get from large banks? [link] [comments]  |
| Posted: 02 Feb 2020 12:43 PM PST Hi, my friends and I were told that we could pay for one month of a yearly pass at six flags and just not pay for the rest of the year. Not thinking much of it we pitched in for the one month cost and went there for one day and never went again. Today, I got a letter in the mail from an official debt agency saying that I owe approximately $2.2K. We were all minors when this happened. What do I do? We literally went for one day. 😠[link] [comments]  |
| Panicking because my employer gave me a 1099-Misc, not a W-2 when I am a full-time employee! Posted: 02 Feb 2020 04:41 PM PST Hey Reddit, I received a 1099-Misc for my employment as an intern as a salesman for an IT company. We are an IBM reseller and after checking the requirements online I am certain that I am an employee, not an independent contractor. My boss sets my hours, tells me which tasks to do on a day to day basis, controls all aspects of my work including, which customers to call when to call and what method of contact he prefers. They also control my pay through a hired CPA and had me sign a contract outlining holiday hours, vacation time, pay, and has no end date. It even says in the contract that I am an "at-will employee" and that they will "retain the right to control and direct my work". This is my first year doing my own taxes as a family friend (CPA) has done our entire families as long as I remember. I understand that I will not receive a refund but will owe money. I did not budget for this and put all of my expendable money into a Roth IRA. What are my options here? My total income from the company is less than $10k as I only started in late September. From what I understand about my boss I would not be surprised if he is attempting to throw the employees under the bus and force them to pay what he should be (that is just my suspicion because all but myself are foreign citizens and never filed taxes in America and I know nothing about how taxes work so he could be losing out too but I doubt that it was a mistake). It's also worth noting that I am looking for a new job and while I will leave soon I don't want to be confrontational about it but I am nervous. If I know I'm not an independent contractor can I be audited and be in trouble for knowingly filing false information? Thanks in advance people! Edit: Texas so not state income Edit 2: This is my first quarter at the company and I got direct deposits. I haven't seen a pay stub until I asked for them after receiving a 1099-Misc [link] [comments]  |
| Posted: 02 Feb 2020 07:24 AM PST My wife and I have been married over a year now and I found out she never filed for taxes and its been 2 years since she worked part time at Charlotte Rouse. She only worked 2 days a week sometimes 3 for 4-6 hours at a time. [link] [comments]  |
| Effects on mortgage approval switching from W2 to 1099 Posted: 02 Feb 2020 08:24 PM PST Hi there! After 5 years of being W2, I just started a fantastic new job as a 1099 contractor. I'm wondering how this would affect my eligibility in applying for a mortgage? I have filed 1099s over the past 2 years as well, but only for side income (<$12k/yr) but new job pays significantly more than what I've previously made ($85k/yr) I'm guessing I should reach out to a local mortgage broker, but wanted to get thoughts from this group as well. Thank you! [link] [comments]  |
| Forgot to add a W2 to my taxes. Refund has already been approved. What next? Posted: 02 Feb 2020 06:05 PM PST Title says it all. I filed taxes and I just seen a W2 from a place of employment I worked at for 4 weeks this year. It skipped my brain to include in my taxes. What do I do next. Will I get in trouble? [link] [comments]  |
| Should you buy life insurance from multiple companies? Posted: 02 Feb 2020 08:06 PM PST Is it better to buy all your term life insurance from one company or spread it out over multiple companies? For example, if I wanted $2M in term life total is it better to: A) Buy $2M from Company A B) Buy $1M from Company A and $1M from Company B? I understand that pricing is usually slightly better with option A (units get cheaper at higher volumes). Is there any risk mitigation gained from option B? [link] [comments]  |
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