Personal Finance Weekend Discussion and Victory Thread for the week of February 28, 2020 |
- Weekend Discussion and Victory Thread for the week of February 28, 2020
- 18 y/o making $27K what should I be doing?
- Ambulance company refuses to bill my insurance?
- Forcing roommates to pay?
- Someone withdrew $10,000 from my mom’s account. Under withdrawal there’s a 10-digit number. What does it mean?
- Buying a new primary residence and renting the old one out, what happens with primary mortgage?
- Need to open a new account but not sure how I can do it secretly
- Closing a Bank Account
- Starting a Roth IRA
- I had a baby in the US, and the (expected) bills have started rolling in. What should I be doing as I receive them to ensure proper billing and insurance handling?
- $8 Debt on Credit Report - Do I just pay it or fight it?
- Got caught up in a multi-level marketing scheme and haven't been paid wages since leaving. How do I proceed?
- I have some stocks. The company just mentioned a takeover. What can I expect, and how does something like this work?
- I'm a college student with a broken down car and I can't decide how much I should spend to get a new one.
- Tips for extremely poor credit for finding a lender to help turn it around.
- Should I touch my 401k?
- Beginner getting into investing: Best beginner broker and why?
- Paying off car loan early
- Is it difficult getting landlords to rent houses to you if you're a friend group of young professionals in their early 20s?
- Already filed my taxes and already received one of my refunds. However I owe federal taxes and not sure if I should be expecting a bill to be mailed to me or not. How does this work?
- Should I refinance now while refi rates are low or wait for them to get lower?
- Pay to delete vs. paid in full
- Should I "lease" a car from my mom?
- Unable to stop payroll deduction for AFLAC insurance.
| Weekend Discussion and Victory Thread for the week of February 28, 2020 Posted: 28 Feb 2020 09:05 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| 18 y/o making $27K what should I be doing? Posted: 28 Feb 2020 03:15 PM PST Hey y'all, just want to give some background before I start asking questions. (Just started this job) -I stock cars, order parts and answer phones at an Autoshop. I got really lucky by knowing the owner since I was younger and he gave me a really good offer. -I commute about 35 ish minutes so gas is my #1 killer right now. Any gas tips/ways to save would be appreciated -I currently live at home, bill free. I've always been a worker since I was 14 and my mom realized that and understands that so to help me save she just expects the normal chores and things that go without saying. I want to get my own phone line though just to help someway. -My boss is making me contribute to my 401K (in a good way) and matching my 3%. I have thought about a Roth IRA but kinda need a dumbed down explanation. Okay, so questions... How should I go about saving if I'm looking to buy a used truck? I don't have to worry about paying for labor just parts (perks of the job) so this helps me stretch my budget. On top of that, what are things I should be doing with this money I'm not spending? I already have a savings account and a 401K set up so I was wondering if there is anything I'm missing. Lastly, is there anything else you recommend me doing/things you wish you knew? I'm open to any and all input. Thanks! [link] [comments]  |
| Ambulance company refuses to bill my insurance? Posted: 28 Feb 2020 06:34 PM PST I need some help here. My husband was transported from our work to the hospital (less than 5 miles) on 7/1/19. We have been fighting with the ambulance service since that time, trying to get them to properly bill insurance so that we can pay the outstanding balance. Come to find out, initially, they billed the service under the wrong name and date of birth, but with the right social security number. I called and got that fixed once I located the company who transported him. I've called several times since then, and my insurance has called them, and each time they say that they are billing the insurance...but they never do. I don't know what else to do. I emailed them essentially demanding a breakdown of the bill that has now been sent to collections. I am so frustrated. I lose this insurance in May of 2020, and I need to get this resolved before it's no longer valid. How do I make them send me a bill? I never thought I'd have trouble PAYING a company lol. [link] [comments]  |
| Posted: 28 Feb 2020 03:39 AM PST The drain in my bathtub started not draining properly. My roommate, who was home at the time, called a plumber without consulting me about it. Had she asked, I would've reminded her that our landlords have a maintenance crew that we've used before. In any case, I found this out because she charged me and my other roommate $150 each(I'm guessing she got ripped off) from the plumber's fee for snaking our drain. Am I legally obligated to pay this? It doesn't seem right to me. She makes a lot more than I do and I suppose this wasn't a big deal for her but it's not a surprise expense I can really afford right now. I'm in Boston, are there any laws that would require me to pay her for this? Edit: Thank you so much to everyone who's replied, I guess my other roommate and I need to have a serious talk about how to proceed with this. Thank you again! Edit2: Thanks again everyone, I haven't been responding a ton because of work. I think I know the discussion that needs to happen, but want to thank everyone for their advice. To those putting my roommate down for her actions, while it might not have been what I would have done in the situation, let's keep things civil. I'm hoping to give her the benefit of the doubt that maybe she really didn't know what to do and hadn't read that clause in the lease. It's easy for obviously clueless people in any given situation to get taken advantage of. She's a very smart person academically, but perhaps just wasn't aware of pricing in that industry and that's how I'm choosing to look at it until I have a talk with her. Anyway, thanks again all! [link] [comments]  |
| Posted: 28 Feb 2020 07:11 PM PST On my elderly mom's bank statement it says "withdrawal $10,000" followed by a 10-digit sequence in this format: XX.XX.XXX.XX.X So, for example, 15.10.150.10.5 Any idea? [link] [comments]  |
| Buying a new primary residence and renting the old one out, what happens with primary mortgage? Posted: 28 Feb 2020 07:32 AM PST My wife and I are looking to move, but rather than sell our old place we'd like to rent it out. If we finance the new place as our primary residence will this cause the banks to call our note due on the place and force a refinance as an investment property at a higher rate? (we just want to walk into this eyes wide open) We've lived in this property for 3-4 years, and could see ourselves moving back at some point in the future. (its in the suburbs and were thinking of moving into the city for a few years.). Anyone have any insight or advice as to what this looks like/what to look out for? Thanks. Edit: Thanks all for the input this has been immensely helpful! [link] [comments]  |
| Need to open a new account but not sure how I can do it secretly Posted: 28 Feb 2020 09:24 AM PST Hello everyone, I'm using a throwaway as you can maybe tell from the title. Sorry in advance for the wall of text. I'm 18 years old, a college student, and I've been working since I was 16. My dad opened my bank account with Bank of America when I was 15 or so. It's under both of our names and as such he has access to the account. He's kind of expecting me to save without spending but I have to pay for books, generally just going out with friends, supplies and sometimes clothes & video games. If it makes any difference I have one credit card open. My credit score is 719. With that being said, my current balance is obviously lower than what it should be if I didn't spend anything. He checked it this morning and he's flipping out. 100% of the money in that account (about $3.3k) is the money I earned from working my retail job on the weekends. As an adult I feel very uncomfortable with my father having access to seeing what I spend my money on. As such, I've decided to open a new account and use my current one as a savings, where 60-75% of my direct deposit will go. The new account can be used as a checking. I just have a few questions. He's a helicopter parent and we live together. He opens every piece of mail addressed to me, which is why I'm hesitant to open a new account. He can also check who I call, so I'm also hesitant to call the bank to explain my situation. What can I do to have my own checking account without him finding out? Edit: Thank you everyone for your responses. I've opened a checking account with Ally and used a trusted friend as the mailing address. To address some concerns--I'm moving out, yes, just not right now. Hopefully by the end of this year. I'm getting a raise soon, so that should help speed up the process a little bit. I'm probably not gonna be responding to this thread anymore so it's alright if the mods decide to delete it. [link] [comments]  |
| Posted: 28 Feb 2020 01:55 PM PST Hello all! Planning to drain / close my Bank of America account that I've had for a very long time. The closest location is 1.5 hours away so I want to make sure I'm prepared. Do I need my debit card for this account to close it? Anything I should prepare for when I do this? It's a checking account and I have about $280 in it currently (the bulk of my money is in a different account/different bank). Thanks! [link] [comments]  |
| Posted: 28 Feb 2020 01:17 PM PST Is it a good idea to start a Roth IRA at 18? Might sound dumb but is there a such thing as too early for that or would it be great to start one? [link] [comments]  |
| Posted: 28 Feb 2020 11:46 AM PST Previously, I have not ever had to quite so carefully navigate the healthcare billing system since I've been pretty healthy and only done annual physicals and the like. I know to expect a large final cost, because this is America and healthcare is wild. To keep that final price tag down, I would love some advice! I have already found a mistake in coding in one bill that came in, but besides checking for "paid" and "unpaid", what else should I be checking for as I receive bills from different providers- hospital, delivery doctor, labs, etc? [link] [comments]  |
| $8 Debt on Credit Report - Do I just pay it or fight it? Posted: 28 Feb 2020 05:46 AM PST I found that my wife has an derogatory mark on her credit report, from an $8 charge created from a medical bill. Its from January 2015, and after some research, we found that the insurance company made a mistake when paying the doctor's office. It was corrected and paid by the insurance company in April of 2015. However this debt is still showing as outstanding and has been transferred to a debt collection agency. It's now bringing her credit score down and we would like to get this corrected. Since it is only $8, I am tempted to just pay it. But at the same time, it is there in error and should not be owed. What happens if we just pay it? Or should we spend the time and energy to collect documentation and file a dispute with the credit agency? Is filing a dispute with the credit agency even the right way to try and get it cleared up? [link] [comments]  |
| Posted: 28 Feb 2020 01:16 PM PST Hey all, So about two weeks ago, I left a company that branded itself as a "management training program" but was actually just a business to business multi-level marketing scheme. I worked one week of training before realizing how much of a hole I was about to dig myself into and quit. Throughout the hiring process and the time I spent there, my employers told me and everyone else in my training group that we would be paid $500 a week while training and then we'd be paid commission based on our performance; this was told to all of us in-person and is also printed all over laminated sheets in the office. There was no formal email that said what the training rates are I understand that outside salespersons are not entitled to minimum wage, but I just got a text from my supervisor saying that we are entitled to minimum wage for the hours spent in-office. Minimum wage in my state is $13/hr and it's been about two weeks since the 72 hour grace period that they are legally required to pay me. How should I proceed to not only get my check, but also get the additional money owed to me by breaking Final Paycheck laws (1 full day rate for every day after 72 hours of leaving the company, up to 30 days)? Is there anything I should do to cover my ass in case they try getting out of it and anything I should do to ensure I get this money? Thank you! EDIT: Formatting [link] [comments]  |
| Posted: 28 Feb 2020 04:22 AM PST Hello all! I own shares of LNGLF. This stock is for an Australian company Liquified Natural Gas, Limited, LNG on the ASX. There is also LNGLY, which is openly supported by LNG. Me and others who invested never understood the difference as they track directly with the ASX pricing. Some of us bought LNGLF, others LNGLY, others a mix of both. Apparently, LNGLY are stocks supported by LNG, and LNLF are LNGs stocks that are handled in some may by OTCMKTS, or OTC Markets. Apparently both are legit stocks, so I never really bothered with swapping the LNGLY. Last night, on the ASX app LNG made an announcement of a takeover: all shares being purchased. I don't know what that means for my LNGLF stocks. The announcement mentioned a purchase of all stocks at a premium price, specifically mentioning LNG and LNGY. No mention of LNGLF, though I guess that's to be suspected. However, since LNGLF is directly tied to and part of LNGs capital, shouldn't my shares be bought as well? If so, what can I expect to see on my E*TRADE account? Will the money just...be in my account? Or did I get scammed by buying LNGLF stock and it is worthless? [link] [comments]  |
| Posted: 28 Feb 2020 02:30 PM PST My car is undriveable and it costs way too much to fix it for such an old beaten down car, so I am getting a new one. I have about 4500$ (CAD) savings and I also have student loans which I've used a bit of. I'm about to be moving away from home to a city in 6 months (so lots of expenses) and going to a university with significant higher tuition. I know for sure, I'm gonna be very in debt from that in a few years, plus I have medical school plans. So now that you know my future plans, I can't decide on if I should get an old 1000$ beater or try and get a used higher end car (5-7k) and just drop a big down payment and finance the rest. My parents will likely cosign if needed. I'm just looking for some advice. My medical school plans lead me to think I'm gonna be 200k in debt anyway, so why not get a reliable car. But I really don't want to screw myself over. Any advice appreciated. Edit: spelling [link] [comments]  |
| Tips for extremely poor credit for finding a lender to help turn it around. Posted: 28 Feb 2020 07:05 PM PST But I can't think of a better option. To start I have terrible credit, like worst of the worst. Evictions sent to collections, repos in both my name and as a lien holder, student loans in default, multiple credit cards either in default or maxed out, wage garnishments, multiple payday loans to try to stay a float, you name it but on to my question. I know know one in there right mind would approve someone like me for anything I could use to pay all of that off and just pay them over time. I'm even at the point that I don't care if the interest rate is so much that I'm paying on it for the rest of my life as long as I can get to a point where I can do the things I need to do. But long story short I've got a situation where I need about $2000 practically overnight to handle a situation that I need resolved quickly. Any tips on finding Georgia lenders that would even fathom working with someone with my credit history. TLDR : I have a credit history that got ruined early in my teens and spiraled. Need a lender willing to work with the worst of the worst. [link] [comments]  |
| Posted: 28 Feb 2020 09:10 AM PST So I'm enrolled in my employers 401k with The Standard. I noticed that 100% of contributions are dumped into a single T. Rowe fund. Should I just set my goal sliders and leave the fund allocation up to The Standard? Keep in mind I don't know what I'm doing but I'd like to learn. [link] [comments]  |
| Beginner getting into investing: Best beginner broker and why? Posted: 28 Feb 2020 09:27 AM PST Hey everyone. Thanks for the help. A little background: I'm 22, live in the US, just finished college (with about 40,000 in savings and 8,500 in loans. 4000 that don't accrue interest until August and 4,500 accruing 4.3% interest). I am starting to work two part-time jobs (making around 33k this year) and plan to attend medical school starting August 2021. Currently unmarried but looking like I'll get married around November. Ok, so now to my details. I know nothing about investing. I recently (this week) have spent several hours reading about it and think I have a very, very vague grasp on the idea. I'm just getting started and settled in my new jobs, so that's my priority and I don't have so much time right now to research stocks. I'm not a huge risk taker. I want to start small to just get my foot in the door and understand the system before going bigger. To start out I'm looking to put in $100-500 probably, and then add maybe $100-200 per month. So it's basically nothing and I know my returns will be essentially useless and nothing. That's fine, I'll just use my returns in addition to the money I add every month to compound. Honestly, this is just to get my foot in the door. I'm looking into brokerage firms and strategies. I've heard good stuff about TD Ameritrade for beginners with good educational tools. I want somewhere with good educational tools, a nice user interface (iOS app ideally), and lots of safe options. I'm very open to other brokers, so recommend ones you have a good experience with. I also see the general advice is to first focus on 401k, but as both my jobs are part time, I don't have one. I've heard to open a Roth IRA before investing (which makes sense at 22 when Im in a lower tax bracket than I'd be in as a doctor). Beyond the IRA, what other strategies do you recommend? 90-10 bonds to stocks? That's one I hear a lot Thanks!! [link] [comments]  |
| Posted: 28 Feb 2020 06:44 PM PST I recently paid off about a third of the remaining balance on my car loan at once, and then I got a letter from my credit Union saying that I am "contractually obligated to make the minimum loan payment each month" and that they have "advanced your loan due date ahead more than the 90 day period allowed". What exactly does this mean? Am I not allowed to pay off my loan early? If I do, are they still going to expect me to keep making payments? What are my options? [link] [comments]  |
| Posted: 28 Feb 2020 11:46 AM PST So I'm part of a group of friends in our early 20s (graduated college in the last 0-3 years), and we're thinking about renting a large house together (5+ bedrooms). Are landlords and rental companies less likely to rent their properties to a group of friends (compared to, say, a family)? If some of us are planning on sharing rooms (rather than just one room each) and therefore having an occupancy higher than the # of bedrooms, would that count against us? If so, what would help stack the odds in our favor? Thanks! [link] [comments]  |
| Posted: 28 Feb 2020 05:38 PM PST |
| Should I refinance now while refi rates are low or wait for them to get lower? Posted: 28 Feb 2020 07:54 AM PST So I'm currently in the process of refinancing from a 30-year to a 15-year going from 4.25 to ideally 3% my question is should I refinance now or should I wait to see how low rates will drop I'm seeing right now 2.8% does anybody think these rates will go lower and also do you have any tips for where I could go to get the best rate? I've gotten rates from now for lenders and there's a lot of shady business that goes into this where they promised you one rate and then they try to charge you fees which bring the APR up but they do it in a shady way. [link] [comments]  |
| Pay to delete vs. paid in full Posted: 28 Feb 2020 07:36 PM PST Hi. Currently having issues finding it hard to find a new apartment in Tx due to rental debt from 2013 that should fall off in. December. Debt is $2600 and even crummy apartments are denying or asking for deposit equal to rent. I haven't had this issue renting until now and have 5 1/2 years perfect history. Better to pay the debt in full, pay for delete ($1600) or wait and hope it falls off? [link] [comments]  |
| Should I "lease" a car from my mom? Posted: 28 Feb 2020 05:22 PM PST My mom wants to buy the 2020 Hyundai Elantra SEL. (Yeah, I know used cars are a smarter purchase, but there's no persuading her) For $2000 dollars, she will let me drive it for 2-3 years. However, it will be in her name, and I wouldn't be able to resell it. My max budget for a car now is $2000 dollars. I'm also unemployed now, living at home, without any other bills. I don't have any other source of transportation other than a bike. Financially speaking, am I better off buying a used car or leasing with that money ($2000USD), or should I take my mom's offer? [link] [comments]  |
| Unable to stop payroll deduction for AFLAC insurance. Posted: 28 Feb 2020 07:33 PM PST I signed up for AFLAC supplemental insurance last year with a pretax payroll deduction. I attempted to cancel during the open enrollment period last fall. Both my employer and I sent multiple emails to AFLAC that went unanswered. My employer was finally able to get a response from AFLAC and I filled out the paperwork and submitted it, via email, to AFLAC and my employer during the open enrollment period. My employer is continuing to withdraw the insurance premium from my paycheck. I've called AFLAC and, on the phone, they do confirm I no longer have insurance as of Jan 1, 2020. My employer states they have not received any paperwork from AFLAC to stop making the pretax withdrawal, and they can't stop until they receive said paperwork. AFLAC states they only send the paperwork to me via mail. I have not received any paperwork from them and have requested them to send it again multiple times. They will not email a copy to me. What are my options in trying to resolve this? I signed up due to word of mouth from people that I trust that dealing with AFLAC is simple and wonderful. I've had the exact opposite experience with them. Thank you for any help in this matter. [link] [comments]  |
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