Personal Finance Found out my coworker is making 60% more |
- Found out my coworker is making 60% more
- Beware of Verizon Collections when canceling or changing service
- About to Hit my 3-Month Emergency Fund Goal. Looking for what's next
- Job is letting me WFH indefinitely. I'm moving from California to Michigan Sunday. Best financial moves to make?
- A check I wrote was intercepted and deposited to a different party- am I protected?
- Is it better to contribute to a Roth IRA or my employer’s Roth 401k?
- Has anybody tried Yotta Savings?
- Saving for Retirement if you plan on moving out of the US in the future?
- Is stock market investment just gambling with extra steps? Do people reliably and consistently make money or is it all up to chance?
- 74 year old dad nearly broke and Social Security not enough
- Bank Account Locking Account Unless I Drive 6+ Hours to Closest Branch...any steps I can take?
- Im 17 years old and I’m opening my Custodial Roth IRA this week.
- Fixed or variable student loan refinance?
- Is now a bad time to start a CD?
- Mortgage after Chapter 7 with foreclosure
- Is it poor discipline or good discipline to allocate nearly my entire my paycheck on payday?
- How to handle joint account in marriage?
- Refinance Question - Too Often? (4.875, to 3.875, now 2.875?!)
- What happens if someone dies before accessing their pension?
- Should I sell my prized possession for an absurd profit and pay off my remaining CC debt and put the rest in savings?
- MasterCard and Visa Opt Out Links
- Cost of cancer treatment on tourist visa in US.
| Found out my coworker is making 60% more Posted: 30 Jul 2020 03:49 PM PDT Conflicted. I am a 4th year nursing student hired to help with covid relief for a private site during the pandemic. My previous job as a nurse's aide in the hospital paid $21/hr, this job offered to match it and I was told responsibilities would be helping with labeling samples and filing. After I was hired, they found out that 4th year nursing students can conduct swabs. They asked if I would help with this and I agreed, but requested a raise to $29 in line with undergraduate nurse employee pay. My manager agreed and submitted the request to HR and we have not heard back for 3 months. The workload was getting intense so they hired 2 more people. One is a nurse who is paid $50/hr, the other is a third year nursing student who is paid $35/hour. This student is about 5 years younger than me (I'm 28) and has no previous experience (I was a Paramedic previously). I'm a little miffed that they would hire her at this rate and not even approve my raise since I am running the department and training both new hires. I plan to meet with the head of the clinic when she returns from vacation next week. I feel under valued and taken advantage of since my raise was not approved and the new hire is making so much more than me (roughly 30k per year more!) . If they don't approve a raise this time should I walk away? I feel like it is silly to walk away from a job that I love everything else about because my coworker is making more.. Especially because I am making the same money I was at my previous job for less work.. Please advise me! Edit: I should mention it is not about the money, I am in a very good position financially, my husband is working and we have a very comfortable nest egg. I also teach Cpr courses in the evenings and weekends for $300/hour so after work I double my day rate in an hour. I also have a job offer through the hospital for my current position paying $29/hour. But I love my current job and know I would not be as happy in the hospital. [link] [comments]  |
| Beware of Verizon Collections when canceling or changing service Posted: 30 Jul 2020 10:41 AM PDT I am posting this because I see it happen multiple times a day. People will think they have good credit then are shocked to discover they have an account in collections that has destroyed their good score. 9 times out of 10, the account that is decimating their score is a Verizon Collections account. What happens is people will cancel service or even just change service to a new address or new account, and sometimes there will be a left over charge. Verizon sends it to collections almost immediately where they make little to no effort to contact the previous account holder. It hits your credit very hard, dropping good scores massively. A quick Google search shows this is an incredibly common issue. Always make sure when you cancel service with Verizon that you have fully paid off all fees. If you receive a bill in the mail, don't accept a Verizon rep telling you it's taken care of until you receive confirmation that you have paid everything in writing/email. I have Verizon now for Fios and wireless and will be doing this if I eventually have to switch. [link] [comments]  |
| About to Hit my 3-Month Emergency Fund Goal. Looking for what's next Posted: 30 Jul 2020 06:52 AM PDT A little back story, I used to be a Dave Ramsey nut spending a good portion of my day listening to his videos in the background while I did work, so I was doing everything the man said:
But after I recently moved, I felt so uncomfortable with only $1000 in Savings (COVID and increased rent), so I decided to extend it to 3-Months for a little cushion. Part of me wants to start saving for investment property/rent hacking whatever you want to call. I do construction, so I feel confident that if I picked up property for cheap, comparatively, that I could restore it to working condition. Currently looking at property <= $225k after all closeout, remodel, and fees. Income $75k. The other part of me feels like I have house fever, would be biting off way more than I could chew, and I should be paying down debts asap. Thoughts, opinions, and advice are always welcome [link] [comments]  |
| Posted: 30 Jul 2020 10:15 AM PDT Hello Reddit, I live in Oakland, CA working for a tech company in the Silicon Valley. My job announced we can work from home indefinitely and they will not adjust salary for COL if we decide to move out of state. With that being said, my partner and I decided to move back home to Detroit, MI. We most likely will have to return to California around this time next year. In Oakland my rent was $3800. (Partner and I each pay 50% so it was really $1900 a month). We are now targeting a (bigger) apartment in Michigan for $1350 ($675 each). Since we're saving a ton of money on housing, I was hoping to use this next year to either pay down debt or just make some smart financial decisions. Can you all shoot me some advice on what I should pay off first or any other good advice you may have? My Stats
Debt
My plan is to immediately pay off the credit card once I move to Michigan as I have a bit over $1500 in the bank right now. I am then going to use my next equity drop in September (about $6000) to pay up the car. I should be able to pay it off fully in October. After I finish paying off my car I was going to start tackling the student loans with big payments. Does this all makes sense? Should I start investing? Should I look at buying over renting a home? Help [link] [comments]  |
| A check I wrote was intercepted and deposited to a different party- am I protected? Posted: 30 Jul 2020 02:19 PM PDT I wrote a check to a service provider. In this case, a surveyor. I sent it in the mail. Our bank shows a scan of the check. Someone, in large block letters, wrote a different name over the 'Pay to the order of' line and deposited the check. The surveyor reports never receiving payment. What do I do? I've already started by contacting my bank. [link] [comments]  |
| Is it better to contribute to a Roth IRA or my employer’s Roth 401k? Posted: 30 Jul 2020 06:24 PM PDT I just started and my employer will not start paying contributions till I've worked for them for a year. It it better to contribute to my own Roth IRA right now since they aren't matching contributions yet? [link] [comments]  |
| Has anybody tried Yotta Savings? Posted: 30 Jul 2020 07:15 AM PDT Just curious if anybody is using Yotta as a savings account. The quick explanation (or how I understand it, anyway) is you deposit your money and you earn 0.20% interest no matter what, but you are also entered into drawings to win prizes? I'm just curious how they make money but it's not really clear from their website. [link] [comments]  |
| Saving for Retirement if you plan on moving out of the US in the future? Posted: 30 Jul 2020 04:16 PM PDT I'm currently 22 and have seriously considered the idea of moving out of the US in the future (~10 years from now). I have $40k of student loan debt at 2.5-5% interest and have begun paying that down since I got a job a few months back. Was going to open a RothIRA next because I have a couple months worth of savings right now (~$4k), but I'm curious about how this works if I were to move abroad? I am sure that others have dealt with this before! [link] [comments]  |
| Posted: 30 Jul 2020 07:03 PM PDT Title sums it up-- I have zero experience with stocks and trading, but from the little I've gathered, it really does seem to be mostly up to chance. Am I totally wrong? [link] [comments]  |
| 74 year old dad nearly broke and Social Security not enough Posted: 30 Jul 2020 07:40 PM PDT My dad is 74 and on social security. He is nearly broke and after his rent, bills, meds, etc he is at around a $400-500 monthly deficit. He lives very humbly but his social security is only $1250. His apartment is a one-bedroom for $839 (very hard to find much cheaper). Ive taken over his cell phone bill, renegotiated his car insurance and cable bill, and cancelled some stupid subscriptions. Medication costs keep rising and we have made all sorts of cost-cutting measures including using less convenient meds (ie those that have to be taken more often vs more expensive extended release) And use goodrx, coupons for groceries etc. My question is are there any services where the government will make up for the difference in his living expenses? Or ways to at least get his medication covered, which is over several hundred per month? Any and all advice appreciated. [link] [comments]  |
| Bank Account Locking Account Unless I Drive 6+ Hours to Closest Branch...any steps I can take? Posted: 30 Jul 2020 12:15 PM PDT I have a checking account I opened a few days ago with a bank that needed to verify my identity. I've been able to make my first deposit to this account with no issues, but suddenly the account has been locked since the deposit cleared, and they need me to verify my account in-person. The bank has a few branches close to my new employer, so figured it would make sense to open a checking account with them. I am now currently quarantined with my elderly parents 6+ hours away from the closest branch, and the bank is not open on weekends. They are saying that the only possible way I can unlock the account is in-person at a branch since I originally opened the account online. I won't be traveling anytime soon due to the pandemic, but I need access to funds ASAP. Are they legally allowed to keep my account locked? It doesn't seem to make sense to me that they allowed me to open account, fund it, and then now when I want access to the funds, they suddenly are requiring identity verification in-person. Spoke with corporate customer service who more-or-less laughed about my situation and were not helpful at all. I can't leave my parents to drive 12+ hours round trip, just to show a teller my driver's license so that I can unlock my account. Is there any legal action I can take to have them unlock my account? Every other bank I have used has the ability to send a faxed proof of ID, license, passport, SS card, utility bills, etc, --but this bank is saying that none of these documents are considered valid unless they are presented in person. Never heard of this before especially since I can provide almost 10 different forms confirming my identity...feel stupid for trying to plan ahead and open this account during a pandemic, but have to prioritize my parents' health and can't risk leaving them and traveling for a whole day to unlock the account. Is there any legal actions I can take to get them to release my money, or has anyone had something like this happen to them? [link] [comments]  |
| Im 17 years old and I’m opening my Custodial Roth IRA this week. Posted: 30 Jul 2020 11:25 AM PDT Through Fidelity I'm opening my Roth IRA early for the compound interest. I am planning in investing in mutual and index funds. I want to do a 45/35/20 split for my portfolio. I want to invest in FWWFX/FXAIX/FSMAX in that ratio. A lot of people have their larger percentage being the S&P but I have the world wide fund as I think the future is in other developing countries such as India. The reason I chose Fidelity over Vanguard is that I only have $1000 to start with and not the minimum of $3000 for Vanguard. I am young and probably one of the least educated people on this reddit as I haven't even started senior year of high school yet. Any advice would be appreciated. [link] [comments]  |
| Fixed or variable student loan refinance? Posted: 30 Jul 2020 05:39 PM PDT I just got approved to refinance my student loans to a 5 year fixed at 3.19 and variable at 1.99. I plan to pay extra and pay it off in 4ish years. My thought is that the variable rate while it may be more risky that if it goes up over 4% I'll pay it off very aggressively. We are saving up for a house and we should reach are goal for a down payment in about a year but most likely won't be buying for another 2. The loan is 80k. I could put another 5k towards the loan a month instead of the down payment if need be. I figure that helps midigate the risk. Thanks for any insight. [link] [comments]  |
| Is now a bad time to start a CD? Posted: 30 Jul 2020 03:27 PM PDT Yes I understand you get a better return in the stock market- I have a 401k through my employer and I recently started a Roth IRA through vanguard and invested approximately $3000 in the S&P500 index (VOO) I have 10 shares. I just like to be diversified and I keep a larger emergency fund than most feel is necessary. I can't predict the future- and I know a high yield savings account is equal or even slightly above a CD, but I wanted to play this from a different angle. What are the odds that a few months from now, savings rates may drop even further thus making a 6 month or year CD where I can lock in the rate a bit to my advantage? Or will I regret it and will CD rates rise what they preciously were? 1% doesn't seem that great but is there a chance that the % may get even worse on high yield savings? [link] [comments]  |
| Mortgage after Chapter 7 with foreclosure Posted: 30 Jul 2020 06:00 PM PDT My wife and I would like to see what our options are regarding buying the home we currently rent from her parents. A short backstory: In June 2018 my wife and I filed Chapter 7 bankruptcy due to the failure of our home business. Our USDA-backed home was included in the bankruptcy. In the two years since then we reestablished ourselves, built up some savings and got stable government jobs. We now rent a very nice home from my in-laws in a good neighborhood. We settled on a sale price, and every dollar we pay in "rent" reduces the sale price by that amount. Some basic numbers:
Complications: Since our loan was USDA-backed, a CAIVRS report would show our foreclosure. Since the bank waited so long to foreclose it's only been about a year since the foreclosure likely even hit the CAIVRS report...and would be a couple years before it goes away. My questions:
[link] [comments]  |
| Is it poor discipline or good discipline to allocate nearly my entire my paycheck on payday? Posted: 30 Jul 2020 08:36 PM PDT I'm paid twice a month, the 15th and 30th. For simplicity sake, let's say I make 2,000 per paycheck, that's 4000/month take home. My system so far has been: 800 for student loans (for 2nd paycheck that 800 instead goes to rent), 250 goto high yield savings account (nest egg/emergency funds), 150 in a RTF/mutual fund, ~400-600 for monthly credit cards (I put nearly every bill and purchase on my CCs for the points). I like to pay 500ish each paycheck on CC bill or 50% of the statement, whichever is higher because it feels psychologically better than paying 1200 at once. The remainder is like a paltry 240-300 that I keep in checking for play that I either use for when I need cash, venmoing (food/drinks/reimbursements) or throw it at individual stocks. I never have more than 300 in my checking per pay period cuz I feel like it doesn't do anything sittint and not gaining value. Anyway, is it weird or bad discipline that within an hour of getting paid, I've already "spent" 90-95% of my paycheck? What do other people do? [link] [comments]  |
| How to handle joint account in marriage? Posted: 30 Jul 2020 06:37 PM PDT I'm not married yet, but my boyfriend and I both agree that if we get married in the future, we would have a joint account where we can pay for mutual bills, vacations, and shared expenses while keeping our independent accounts on the side. My question to you all is: how do you contribute to the joint account? Do you contribute a fixed percentage of your income or do you contribute an equal amount of money regardless of income? Are there other ways you can approach this that make things fair to both parties involved (especially if the income gap between both partners is very large). [link] [comments]  |
| Refinance Question - Too Often? (4.875, to 3.875, now 2.875?!) Posted: 30 Jul 2020 05:18 PM PDT Hello! Just wanted to pose a quick question to you all. I recently refinanced my home, I had only lived there about a year before, and the rate went from 4.875 to 3.875. I did this through the same loan officer that I got the loan from initially. Fast forward to now, it's been only about 4-5 months since the 3.875 refi has been closed, and my loan officer says we can get me down to 2.875%. Normally I know refinancing can cause you to be stick in the same loan for a long time without getting out of the interest payments, but I doubt rates will go much lower than 2.875%, but then again that's what I told myself when they dropped to 3.875% To me this seems like a solid plan, because I do plan on keeping the home for a long time and plan to rent it out whenever I decide to buy another house in the future. And if not, I plan on being here until the $3k for closing ends up getting paid for by the savings of my monthly mortgage going down about $130. (About 2 years) What do you all think? Currently the $3k isn't a big deal for me, I have a 8mo+ emergency savings, and investments for retirement, 401k/ROTH, ect. Mostly worried about some sort of weird fee for doing it too often, or my credit getting wrecked from it. (Currently my credit is 750+) Thanks for taking the time to read! [link] [comments]  |
| What happens if someone dies before accessing their pension? Posted: 30 Jul 2020 12:57 PM PDT My dad had worked for a company in Pennsylvania for 20+ years and died at 64 (12 years ago now). By the time he died, he hadn't worked for the company for a few years and also hadn't accessed the money he'd paid into some sort of retirement/pension plan. He had gotten injured at work and eventually settled a lawsuit in some way where he would keep his retirement funds whenever that time came. Well, he and my mom got divorced after the settlement. He died bankrupt and had let his life insurance lapse. I was in my 20s and totally overwhelmed with trying to handle funeral/finances/etc. I called the company once to ask what ever happened with the money he'd paid into this retirement plan, but I wasn't really sure of any details and they told me that since my dad wasn't married and died before he started drawing on the funds, the company wouldn't pay out anything to anyone in our family. It's a major multinational corporation; not a small business. Is this true? I don't really understand much about how this works, as you can probably tell by my poor explanation. Who could I ask for more information? TL;DR: My dad died before officially retiring at a company he didn't work for anymore. Does the money he'd contributed just disappear? [link] [comments]  |
| Posted: 30 Jul 2020 08:47 AM PDT Title explains most of it, but I'm torn, I paid $435 about 6-7 years ago for an item and held it because it's my favorite video game. I just got an offer from a serious buyer to buy it for $5k. Thing is it's my prized possession and crown jewel of the collection. It could easily keep going up in value like it did, and make more. Take the money and run or pay off what little debt I have and save for something else? (My wife and I pay all our bills and are doing fine financially). [link] [comments]  |
| MasterCard and Visa Opt Out Links Posted: 30 Jul 2020 10:44 AM PDT By default, MasterCard and Visa share/sell transactional data with marketers and analytic companies. To opt out of this, use these links for MasterCard and Visa. This works for both credit and debit cards! You need to do this for each card you have and it is valid for the life of the card. It's worth mentioning to go through the privacy settings of your banks to opt out of sharing too! Edit: spelling [link] [comments]  |
| Cost of cancer treatment on tourist visa in US. Posted: 30 Jul 2020 10:21 AM PDT My mom who is on tourist visa in US went to ER last Friday. She is diagnosed with colon cancer. In the ER, surgeon operated on her immediately because tumor was blocking the passage & it was life threatening situation. After surgery , they shifted her to bigger hospital which has cancer center. So far, she has her colonoscopy & biopsy done. Now, next steps are chemotherapy and radiation to shrink tumor & surgery afterwards to take tumor out. She has traveler's insurance with $250 deductible and 250,000 max. However their policy documents says cancer treatment is not covered . Please note this cancer is diagnosed here for first time. This was not a pre-existing condition. I am hoping insurance will cover her ER visit at the least. But we are worried about her cancer treatment. I have heard hospitals have financial aid programs. What options do we have to figure out how to proceed? Thanks! [link] [comments]  |
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