Personal Finance My Employer Offered My Position at a 45% Decrease After Being Furloughed |
- My Employer Offered My Position at a 45% Decrease After Being Furloughed
- Hospital sending random $2000 bill more than a year after my child's birth
- Liberty Mutual increased my auto insurance cost 26% year-over-year
- Where do you draw the line between spending money on important experiences in your 20s and unnecessary spending?
- I'm 21 and I want to break my vicious cycle of wasting money
- Update: I fell for a scam last night.
- What should we do with my 401k and employer retirement contribution funds if we want to move back to our country? (Australia)
- I lost my car and need advice
- Thinking of contributing more to my 401k, should I open an IRA instead?
- What exactly are maintenance fees in checking accounts? What kind of “maintenance” do the banks do?
- 15 yr mortgage or 30 yr mortgage and put extra towards savings
- 401k + IRA, or just 401k?
- My employer wants everyone to sign this form so he can apply for a loan. It makes no sense to me.
- I missed a credit card payment. First one every in my 28 month streak. How screwed am I?
- Medical Bills given to minor with potential errors; I want to dispute it
- Employer cut 401k matching for a year
- Best Saving/Debit account for my position?
- Should I take this job offer?
- 401k/investment, or house?
- 40k in cash-out refi. Where to put the money as I use it for remodel.
- ESPP (Employee Stock Purchase Plan) question
- Where to Look for Best Mortgage Refinance Rates
- Negotiating a salary when an employer implies they don't negotiate (tech)?
| My Employer Offered My Position at a 45% Decrease After Being Furloughed Posted: 10 Jun 2020 06:20 AM PDT Like many, my employer furloughed about 75% of its staff due to Corona in April. My boss informed me that the company is (in his words) restructuring and if I return to work my salary would be X amount, which is about 45% less than what it was. However, I can receive about 7% commission of online sales that I assist with. I would basically be doing my old job, plus my assisting with online chat. I guess I am wondering if anyone has been in this situation or can give me advice on what I should do? Is this a good offer or should I run for the hills? EDIT: I don't feel comfortable disclosing too much information about my job. Salary was, $40,000. Would now be $22,0000 plus commission. (These are not the true numbers. I gave these figures for anonymity. The current pay would just meet legal range for salary. I apologize for the confusion) Average sale could be $800-$5000 There are other associates on site who's actual job is sales so I'm not sure how often I would have a sale. Also, I am currently on unemployment and have been since being furloughed. [link] [comments]  |
| Hospital sending random $2000 bill more than a year after my child's birth Posted: 10 Jun 2020 07:38 PM PDT I read through this sub extensively before my kid was born and found it helpful. I made sure to keep all receipts and get an itemized bill from the hospital of everything done before we left. Before we left the hospital, I asked their accountant/financial rep? before we left if this is all we owe (~$4k) and he said yes. After talking with insurance, we paid the remainder we were responsible for. We ended up having to pay another ~$3k (luckily we settled; the real bill was much higher) to a contractor of the hospital involved in all of our kids NICU care. So no more bills. Then at the end of last month (13 months after our stay), we get a letter from the hospital claiming we owe another $1700. I don't understand how I'm supposed to fight this...I have all of my transaction IDs and such...but I feel like they'll say nope that was for blah blah blah and you still owe Should I contact my insurance first before speaking with the hospital? [link] [comments]  |
| Liberty Mutual increased my auto insurance cost 26% year-over-year Posted: 10 Jun 2020 06:08 PM PDT I'm 30, have a clean record, and only drive 5000 miles/ year. I've been a Liberty Mutual customer since 2013 and just received my annual auto renewal package. I was shocked to see that my total annual premium this year will be $1,535, an increase of $400 over last year's premium. Realizing I was being raked over the coals, I requested quotes from four other insurance companies. The process was easy and within a day I had quotes ranging between $645/ year - $1,120/ year for the exact same coverage that I currently have. That's saving a maximum of $890 over the course of a year. I called Liberty Mutual and one of their rate specialists produced a new quote for me. Suddenly, the price dropped from $1,535 to $882. Doesn't matter, I don't want to support a business that takes advantage of loyal customers. I'll be going with one of the other quotes I received. I just wanted to remind people to question rate increases and to shop around. Worst case scenario, your price stays the same. Best case? Who knows, maybe you'll have an extra $74/ month as pocket change. [link] [comments]  |
| Posted: 10 Jun 2020 07:49 AM PDT I'm a 20 year old college student and I've never been on a real trip/vacation for myself, never traveled to another country, and never been to another U.S state (save for a couple family trips as a child). Coming from a lower-middle class background, I struggle with the idea of dropping hundreds to a couple thousand on a trip but I also find myself feeling restless and like I'm "missing out". Should I focus on aggressively saving money right now so I can secure a better future and have adventures later or is now the time to go out and experience the world? And when does does an "experience" verge on irresponsible spending considering student finances? [link] [comments]  |
| I'm 21 and I want to break my vicious cycle of wasting money Posted: 10 Jun 2020 02:10 PM PDT Currently, the only financial choice I've made that are significant or over 1K are getting my first credit card, financing a 10k car, and itching my computer hobby (about 2k) I live with my father and brother, we are all electricians but I've only been in the field of work for 18 months. I make 12.50 My credit card is a secured card with a $600 limit and I did a pretty good job keeping it under 20% usage until something popped up, now it's at 350 and I've been paying early and extra (though it's still not much) I also have about 150 in medical Bills a month from finding a pre-cancerous mass that was removed. I only have about 200 extra after bills and such each month, but I spend it on lunch at work. I feel trapped here. Edit: wow I didnt realized how much money was in this field of work. My company offers to pay a school but requires I work for them for a year after the schooling is complete. Should I take this offer? [link] [comments]  |
| Update: I fell for a scam last night. Posted: 10 Jun 2020 08:05 PM PDT Here's my original post if you want to read it. https://www.reddit.com/r/personalfinance/comments/g0np8u/i_fell_for_a_scam_last_night/?utm_source=share&utm_medium=ios_app&utm_name=iossmf TLDR; Someone called me pretending to be my bank, I'm dumb, and they took $1897 from me. So I had filed a complaint with my bank. They gave me a provisional credit for the money that was taken. However, they decided that no error occurred and took the money back. I filed a rebuttal with them and sent screenshots of parts of the EFT Act that said I can only be held liable depending on how long it takes me to notify my bank. I had notified them within HOURS when it happened. Tonight I checked my bank account to make sure I had enough to buy milk and the money was back in my account. According to the email I received, they've determined that an error DID occur and I got all of my money back. I don't remember who it was, but someone on my original post recommended bringing up the EFT Act. Whoever you are, thank you. I wouldn't have gotten my money back without you. I had no idea the EFT Act existed. I still feel stupid for falling for the scam in the first place. I'm much more careful now. But a huge weight has been lifted knowing that I got the money back. [link] [comments]  |
| Posted: 10 Jun 2020 03:23 PM PDT Hello! Thank you for reading. We've been living and working in the US for a few years and considering moving back home to Australia. We have a combined retirement $$ of about 100k - what are the costs of withdrawing all of this as cash? Is that even possible to do? Alternatively, can we "invest" this amount into a property in Australia, for us to use as our primary place of residence? In addition - we are about to have a baby in the US, the baby will be an American citizen, we could save that money for the baby's college fund later, maybe. Thank you in advance! [link] [comments]  |
| Posted: 10 Jun 2020 08:34 PM PDT So long story short I got hit by a bus about 9 months ago. It fucked me up bad, I ended up with a major TBI. Anyways, I have a memory like a goldfish and my TBI symptoms come and go. Such as dizziness confusion blurred vision. So I felt an attack or a sudden onset of the symtoms, I parked my car and called either uber or lyft. But now I have got no clue where I left it. Ive called the police, they pretty much laughed at me but said they would look for it. No luck so far. I can't say it was stolen and activate my lo jack. I am shit out of luck. What do I do? I have comprehensive geico insurance but I am pretty sure my situation is not covered. Please help and yes I only drive on good days when I have no symptoms. [link] [comments]  |
| Thinking of contributing more to my 401k, should I open an IRA instead? Posted: 10 Jun 2020 10:22 AM PDT I'd like to start contributing more money to my 401k, but I wanted to check and see if it would be better for me to open an IRA instead? I'm 30 with a 401k balance around $200k and I currently contribute 10% to my 401k (at an income of $120k) and my employer matches up to 10%. Would there be any significant benefits to going with an IRA in this case? I'm not very familiar with IRAs so I did some googling but I couldn't find a clear answer to my question. Thank you in advance! [link] [comments]  |
| What exactly are maintenance fees in checking accounts? What kind of “maintenance” do the banks do? Posted: 10 Jun 2020 07:57 PM PDT What exactly are maintenance fees in checking accounts? What kind of "maintenance" do the banks do? If money in the checking account goes below a minimum, that's when the "maintenance" fees occur. Isn't it just a euphemism for "poverty tax"? Is it worth asking a bank to forgo the maintenance fees if the customer is going through a financial hardship? How are maintenance fees even ethical? [link] [comments]  |
| 15 yr mortgage or 30 yr mortgage and put extra towards savings Posted: 10 Jun 2020 06:13 PM PDT I am currently in the process of refinancing. I'm currently locked in at a refinance rate of 3.375% for 30 years. I was playing with some calculators and looking at rates, and I saw I could refinance for 15 yrs at 2.75% for ~$300 more per month. I already have 13% of my paycheck going to a 401k, then I put an additional $750 each paycheck in my savings account. I am wondering if it would be better to refinance for 15 yrs instead of 30 yrs and instead of putting $750/mo in my savings put $450. Any help would be appreciated. [link] [comments]  |
| Posted: 10 Jun 2020 11:01 AM PDT Hi, everyone, I'm just starting out my career at age 25 and I'm having trouble deciding how to allocate my retirement savings. My employer offers a 6% match and offers vanguard target funds where I currently have my contributions going (they offer conventional and Roth 401k). I also have a Roth IRA that I have been funding. Should I continue funding my Roth IRA or divert those contributions toward my 401k? Edit: income is $105k/yr plus overtime [link] [comments]  |
| My employer wants everyone to sign this form so he can apply for a loan. It makes no sense to me. Posted: 10 Jun 2020 02:11 PM PDT I'm not sure how a housing form that benefits my family allows my employer to get a loan? [link] [comments]  |
| I missed a credit card payment. First one every in my 28 month streak. How screwed am I? Posted: 10 Jun 2020 08:53 PM PDT My credit score was 750 until I got a $1500 loan because of the virus (shorter work hours) it was hit a bit but I'm sure it didn't lower 700. I've missed a payment for the first time and I feel like my plans are ruined. My wife is pregnant and we planned to buy a new car in 5 months. How does missing 1 credit card payment (billing cycle ended yesterday, paid today) affect my rates in financing a car in 5-7 months? 20M if age makes a difference in this game of credit. [link] [comments]  |
| Medical Bills given to minor with potential errors; I want to dispute it Posted: 10 Jun 2020 08:51 PM PDT I potentially will dispute the balance of a collection of $30,000. This balance came from a medical bill balance given to a minor at the time (me at 17). The balance was acquired in 2015 and has been turned over to collections a couple of years ago. Another potential issue within this case is that there may be an error with insurance on 1 or 2 invoices. Since it was turned over to collections I have to dispute this case with a collection agency then hopefully dispute the errors with the hospital. I understand the debt may be moved to my guardians at the time. I don't want to drop it on them without helping resolve the balance somehow whether it be a settlement and/or payment plan. Yes, it may have been rightfully their debt in the first place, however, in the future I will be financially capable of contributing to paying it off. I was aware of the debt I just thought to hold off as much as I could because I couldn't afford to make payments. Although it is a massive balance of a collection, it is not showing on my credit report done by my bank. A little bit about me:
I'm reaching out to the community for tailored advice on this situation. questions I have for the community other than advice
`The reason I want to dispute it is that I was a minor, there may be errors, and because it may or may not be affecting my credit. Thanks for everyone taking the time to read this. Guidance is much needed. summary: Medical Bills given to minor with potential errors; I want to dispute it [link] [comments]  |
| Employer cut 401k matching for a year Posted: 10 Jun 2020 03:43 PM PDT I pay in 5%, and employer does a 2:1 match. They just announced that because of Corona that they are suspending their 10% contribution for 1 year. I am 35 and my 401k is valued at about 200k right now. My annual salary is 110k. For the next 12 months, should I be trying to pack away an extra 10% because I'll be missing out on my match? [link] [comments]  |
| Best Saving/Debit account for my position? Posted: 10 Jun 2020 06:17 PM PDT I'm looking for a tech friendly savings and/or checking account with high interest. I was looking at Ally, Wealthfront, AMEX, and Marcus. I keep around 250k in my savings with 50k in my debit. Any recommendations? I'm fine with additional accounts if a bank doesn't offer a debit account , however I'd prefer it to if possible. I'd also want to stick to a company I can trust for over 5 years. [link] [comments]  |
| Posted: 10 Jun 2020 08:24 PM PDT Posting on behalf of my sister: I recently received a job offer that my husband and I have been discussing at length, and I'd love outside opinions. I am nervous about losing my seniority and I have been happy at my current company, but we restructured a few months ago and I don't like my new boss as much as I liked my previous one. My current job is also located such that my husband and I will each have to commute about an hour and a half each way to work once he starts work at his new location in October. The new job would slash that to 30 minutes and allow us to commute together (the new office is within easy walking distance of my husband's), but we would have to pay at least a few hundred dollars more in rent (we are moving either way). Both jobs require living in very expensive areas to make sense, but Job B is slightly more so. Additionally, the new job will probably be a more stressful one, but is a step in the direction I would like my career to take. The job titles are about equivalent. PTO amounts are the same, although I will lose several stored up weeks at my current job. My current job also allows me to WFH for 2 days a week, whereas the new job would only let me WFH twice a month. But the new job is much closer, as I mentioned above. Over the next year comparison: Job A: - 93k salary
Job B: - 110k salary
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| Posted: 10 Jun 2020 08:14 PM PDT Currently I'm just focusing on maxing my Roth IRA as my company don't offer a match (only Roth 401k), Prbbly looking for better opportunities once this COVID blows over, for now just happy I got a job. My husband and I are planning to get a house around 30 (mid 20s rn). He's going to school full time so more debt eventually (I have about 20k but it's deferred rn) and works part time but hasn't been able to with COVID. We have decent emergency fund. So here's the question, should we be more focused on saving for house (planning for near a million, so 10-20% down with other costs) or 401k/investment? [link] [comments]  |
| 40k in cash-out refi. Where to put the money as I use it for remodel. Posted: 10 Jun 2020 08:13 PM PDT Hi all, I did a caah-out refi for 40k and will be using it to remodel over the next year or two. Where should I put the money in the mean time? I know some banks have an incentive ($200-$300) for new accounts so I'm considering making a new checking account just for this. However, was also think I should be earning interest on the money I'm not using right away. Also, is there any advantage to a local bank as opposed to a national chain? Any helpful thoughts? Thanks in advance! [link] [comments]  |
| ESPP (Employee Stock Purchase Plan) question Posted: 10 Jun 2020 05:56 PM PDT The enrollment period for my ESPP ends June 15. Everything I've read about these says they're a great opportunity when you can sell immediately. However, my employer requires me to hold onto the stock I purchase for a year. The discount we get is 15%. Is this still worth it? I guess one perk of holding onto it for 1 year is that any gain is capital, rather than ordinary income, right? [link] [comments]  |
| Where to Look for Best Mortgage Refinance Rates Posted: 10 Jun 2020 07:55 PM PDT I am trying to research the amount I could save by refinancing my mortgage. I tried looking at some of the major comparison sites (Bankrate.com, Better.com, SmartAsset, etc.), and the lowest rate for a 30 year mortgage was 3.2%, and the lowest rate for a 15 year mortgage was 2.75%). I thought I would check the rates at my local credit union where I have my checking account, and they're offering 3% for 30 year and 2.5% for a 15 year. This makes me think that these rate comparison sites are not great because the first bank that I checked already beat their best offers. Anyone know if this sounds right? How do you shop around for the best rates? [link] [comments]  |
| Negotiating a salary when an employer implies they don't negotiate (tech)? Posted: 10 Jun 2020 05:29 PM PDT I am in the final rounds of an interview process right now. In my initial calls with the recruiter, I was told the specific salary which I pushed back on gently and they seemed to imply it's not really up for negotiation (at least at that stage). This is with a startup (so base + bonus + equity). Total comp is the same as I make now (but the base is higher with a lower bonus). It's a great company culture + benefits, but it would be hard to stomach taking a job without at least a 10% increase in my comp...especially when low comp is a reason I'm looking to leave. How much leeway do you actually have to negotiate in these sorts of situations? I know startups are generally tighter in terms of budget for a role, but they also have less reason to stick to things like salary bands. Would I be crazy for asking for 20% higher total comp, and saying "how can we make up the difference"? I would love to end up with at least 10% higher cash comp and maybe some more equity. [link] [comments]  |
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