Personal Finance Received $8,000 in unemployment from a state she doesnt live in |
- Received $8,000 in unemployment from a state she doesnt live in
- my husband passed away. what do i do now?
- Wife is Inheriting land, what to do with it.
- I made a spreadsheet for Compound Interest calculations
- I am completely financially illiterate. I have $12k saved in a bank account and no debt. What should I be doing?
- Sold my PlayStation, guy transferred but I never got the money. He said it's a problem with his bank. Did I get scammed?
- Is there any reason not to have investment accounts with 2 companies?
- How do I remove myself from my mom's credit card?
- Refund for installation fee.
- 23 year old seeking guidance on how to save and stick to a saving plan
- Saving money for a downpayment on a house, but what to do with the money in the meantime?
- Merchant keeps sending me money
- I’m currently doing my taxes for the first time. Can anyone help with an issue I’m having?
- Reducing electricity bill with central air
- Sold motorcycle online, buyer is not paying me back. What's my action?
- NYC dream rent subsidized apartment or keep mooching off the parents?
- I [20yo] looked at my father's [57yo] finances. Feeling lost on how to handle his debt and lack of retirement funds.
- Overcontributed to Roth - backdoor roth?
- Worth taking a disbursement from 401k for a CA/bay area home downpayment?
- Just got a Fidelity ROTH account
- Buying a used car and fix every few years or cheap new car to save in the long run?
- Are credit cards really necessary?
- First time homebuyer Professional Loan Mortgage good option?
- so kinda confused about my credit union car loan. please help.
| Received $8,000 in unemployment from a state she doesnt live in Posted: 05 Jul 2020 08:59 AM PDT SO lives in Florida and has been collecting unemployment since her resturant closed. Her father then helped her refile for the unemployment benefits. She then recieved about 10 backdated payments from Mass in unemployment, as she is a dependant to her mother in Massachusetts. Now she's super nervous about it and I dont know jack about the welfare system. Is this legal? What would be the next step for her? Edit: she collected unemployment from MA in March and April. Collected unemployment from FL in May and June. Not sure if this changes anything, but just to note she wasnt collecting from both states at the same time [link] [comments]  |
| my husband passed away. what do i do now? Posted: 05 Jul 2020 01:22 PM PDT my husband passed away recently and i seem to be at a lost. not just emotionally but financially as well. i have been a SAHM since before my son was born because it just cost too much for someone to be with my son. He will be 3 in a few months. I am also 7 months pregnant. my husband had about $270k in assets (brokerage, IRAs, and 401K) and a life insurance policy of $700k. All of this is in review of the Estate. I am the executor of his will as well as the beneficiary of all of these accounts. i am unable to work due to the accident we were involved in. i'm hoping that my auto insurance will be able to cover all of our expenses, but i'm in this in the long haul (in terms of medical treatment). we have a mortgage on our home and no other assets at this time. i will have to buy a car at some point in the future when my medical restrictions allow. i have no idea when i will have access to this money. i have a rainy day fund that will cover us for the next 6 months. i also have investments that i could dip from if it is 100% needed. if/when this money is cleared from his Estate, i would like the following: pay off the mortgage: ~$350k remaining buy a car: $21k-$35k (comfortable buying a used car 2017+) this money needs to last me for as long as possible since i do not know when i can return to the workforce. paying off our mortgage is obviously not a high priority but i would like to pay it off sooner to avoid the high interest rates. i'm open to all suggestions as my idea of putting majority of his estate into a high yield CD seems silly. edit: i want to thank everyone for all of your advice. i'm having a difficult time responding to everyone. i didn't think i would get so many responses. i will definitely let the money sit for awhile before making any big financial decisions. i have never been a rash person and i'm definitely not going to start now. i will speak to a fiduciary financial advisor to help allocate my finances in a responsible manner. [link] [comments]  |
| Wife is Inheriting land, what to do with it. Posted: 05 Jul 2020 04:57 PM PDT Title says it all, wife is Inheriting land maybe about 20+ acres in Mississippi. What do we do with it? Any ideas? [link] [comments]  |
| I made a spreadsheet for Compound Interest calculations Posted: 05 Jul 2020 12:46 PM PDT Hey guys, this is my first contribution to personal finance, so please go easy on me. After searching for a good compound interest calculator, I wasn't finding any that providing granular breakdowns (like daily reporting) or all the options I wanted (like increasing contributions over time), so I created my own spreadsheet and cleaned it up since others may find it useful. Spreadsheet (you'll need to make a copy to edit): https://docs.google.com/spreadsheets/d/1ZchlyfSS6_r0ayW97a_pVbw-6nPnIn0m4vsVgSZuQsA/edit?usp=sharing There is a daily results tab at the bottom if you want to dig into how the calculations work or add your own options. [link] [comments]  |
| Posted: 05 Jul 2020 02:37 PM PDT I'm mid 30s and have zero clue about anything involving financial literacy. I've just rented apartments, paid for car in cash, and paid monthly utilities as an adult my whole life. I don't know the first thing about investing, protecting my money (other than it sitting in my account doing nothing), or what I should be doing with it for my future. I'm not saying this to boast about being illiterate, I'm actually quite aware of how embarrassing it is but i know I should probably do something about it. [link] [comments]  |
| Posted: 05 Jul 2020 05:55 PM PDT I don't know where to post this but I'll try here and see how it goes. So I recently sold my PlayStation 4 on Facebook marketplace. I asked if the guy could transfer, he said he could no problems. He sent me a screenshot of the transaction and showed me again when he came to pick it up. A day or two goes by and I don't get the money. I message him and he said the money has gone from his account. Okay. So I wait a few more days and I message him again, he says that he went to the bank and they're telling him that it's been cleared on his end. It's been nearly two weeks now and I've got a very feeling I'm not gonna see this money. Did I get scammed? Is there anything I can do about it? Edit: Well looks like I got done dirty. It was my first time selling something online to someone I've never met and it looks like my naivety got the best of me. I'll try and file a police report if I can but I doubt it'll do much. Thanks for your input. [link] [comments]  |
| Is there any reason not to have investment accounts with 2 companies? Posted: 05 Jul 2020 05:51 PM PDT I currently invest with vanguard, but I'm considering opening an account with fidelity. I work abroad and am unable to have a roth and my company doesn't offer a 401k, so I invest in a normal brokerage account. I like vanguard, but their app and site is extremely dated. Also, it forces me to use 2 factor authentification using my US number, which costs me $10 every time I want to check my account. I only have $5,000 with vanguard, but I have about 20,000 on the sidelines I'd like to use. Is there any reason not to open another brokerage account? [link] [comments]  |
| How do I remove myself from my mom's credit card? Posted: 05 Jul 2020 06:19 AM PDT Years ago, my mom made me an authorized payer on her discover card (at least I think that's the term). She and I both have a credit card tethered to the same account. It shows up on my credit report, at the very least. Now my mom is makes every payment on time and is generally financially responsible. This decision on her part helped me build up a good credit score. That being said, the more I learn about finance, the more I want to remove aspects of my financial life that I am not in control of. Is removing myself from the card as simple as calling the card company and requesting that I be removed as a payer? Does the card itself have to be cancelled? I'm assuming that removing myself as a payer would remove a credit source, which would hurt my credit utilization, right? I also have a refinancing loan I'd like to apply for in a month or two, and I'm wondering if removing myself would hurt my credit in any significant way that would impact my ability to apply for that loan. I know the ages of account also matter for credit score, and a part of me is loath to give up an account I had for years, even if I'm not in total control of it. What do you guys think? I have another credit card I opened up a few months ago, and one I opened up about three years ago. [link] [comments]  |
| Posted: 05 Jul 2020 03:19 PM PDT I purchased a dishwasher ($298) from a big box home improvement store. The purchase came with free delivery. I paid for installation ($139), parts ($31.97) and haul away ($25.00). They scheduled the delivery and install for June 9th. I took a day off of work to let the installers in. The delivery guys came in, checked out the kitchen and then went to get tools to remove the existing dishwasher. When they came back in, they said they had removed the dishwasher from the packaging and it was damaged. They then left saying that the company would call us with the new delivery date. We called the store a couple of times and kept getting the runaround. Finally on the 15th of June they told us it had accidentally been cancelled, and they would need to refund our purchase and submit a new order. We asked not to get a refund because that would tie up double the purchase. They called back the next day and said "We refunded your money like you asked! You can now reorder online and set it up." The sale was over so we said it would be more expensive to reorder online, they told us to come to the store and they could take care of us. When we did go to the store they apologized and said they would give us a discount of $140 for showing up with the damaged dishwasher and then accidentally cancelling the install because now we would be scheduled for July 2nd, almost a month late. July 2nd comes around and i take a second day off work. The installers show up and say that because we have an "elevated floor" they could not install the dishwasher, even though there was enough clearance for the dishwasher. They left the dishwasher in my garage telling me that I would get refunded for the installation. I schedule a plumber that has done work for me before to come out and do the install, and then i go to the store that day to discuss the refund. They tell me that they don't have the 'code' inserted into the system so can't give me a refund. I go to the store today (July 5th) and ask again about the refund. This time they say they can't refund me for the installation cost because on the new order they did not put the installation down as a separate line item. They are saying the only thing they can do is try to get the install company to come out again. I am not happy about them coming out a third time, I just want my $139 + $25 back so I can pay the plumber to install it. Do I have any recourse here? I am supposed to go back again tomorrow to talk to a second manager but if I don't get my money what should I do? Can I dispute the charge on my debit card? I've made up my mind. I am going to meet with the manager tomorrow and if I don't get my refund I am going to dispute the transaction and have dishwasher delivered from another retailer that my plumber will install. If I lose the dispute I will just return the dishwasher. [link] [comments]  |
| 23 year old seeking guidance on how to save and stick to a saving plan Posted: 05 Jul 2020 04:51 PM PDT I am a 23 year old Mechatronics engineer and working full time. Every month after my expenses I'm left with ~$1500Aud However I'm unable to hold on to that money or let it grow. Looking for some advice and guidance on what has worked for other people. Any tips or advice are welcome. Thanks in advance!! [link] [comments]  |
| Saving money for a downpayment on a house, but what to do with the money in the meantime? Posted: 05 Jul 2020 10:58 AM PDT If this question is better suited for a different subreddit let me know. My wife and I are saving money for a downpayment on a home, and we are looking to buy in the next 2-3 years. After saving for a couple of years, we have a lot of money that is just sitting there in our bank account. It's not really helping us, because the bank gives basically 0 interest, but we can't spend it on anything because we are trying to be diligent in saving for a house. What are some better options that we have to use that money for something useful (better saving accounts, investing, etc). It can't be SUPER long term, because we need that money for a home in the near future, but obviously we don't want the money to just be sitting there basically under our mattress. What options do we have? Edit: as a side note, this is an area that both my wife and I are completely unfamiliar with. We already have more saved than both of our parents, and while we know how to keep a budget, now that we have some money saved we have no experience or knowledge on how to use that money to help us. Any advice is appreciated. [link] [comments]  |
| Merchant keeps sending me money Posted: 05 Jul 2020 06:55 PM PDT Throwaway. I returned a product that was $12.17 and the merchant kept refunding me the same amount non stop for the last few days, 500x/ day. I've contacted the merchant and my credit card carrier about it with no response. I now have a -$35,000 balance in my account, and the credit card carrier is offering me a check. What advice does anyone have? Do I take the check? What do I do? No one is being responsive about this. [link] [comments]  |
| I’m currently doing my taxes for the first time. Can anyone help with an issue I’m having? Posted: 05 Jul 2020 07:54 PM PDT I'm currently doing my taxes for the first time. However I accidentally put down my SSN down incorrectly at the job I had, Im now barely seeing it on my W-2. COVID-19 drove the restaurant and company into bankruptcy so I don't know how to resolve this issue. Can anyone help? [link] [comments]  |
| Reducing electricity bill with central air Posted: 05 Jul 2020 06:35 PM PDT I just moved into a new apartment that has central air, and this is my first time with central air. My first two apartments had in window AC units. I haven't even gotten my first bill yet, so I have nothing to compare, I just wanted to ask this in advance. What are some ways/tips to minimize my electricity bill with central air in my apartment? [link] [comments]  |
| Sold motorcycle online, buyer is not paying me back. What's my action? Posted: 05 Jul 2020 01:38 PM PDT Long story short I sold my motorcycle through Craigslist and we had set an agreement to finalize payment the following week, but the guy never came with the money. I still have the original title to the vehicle, and 2 titles to other motorcycles which he gave me as "collateral" although I'm not sure if they're still active titles. I also have his phone number which is verified to be his, as well as his address. I was planning on calling the police to try and deal with the matter, but the catch is that we are in different states (the bike is a remnant from my time in California I'm in Pennsylvania now). Is there any way I can send a letter from an attorney to threaten legal action and make them pay me? I have no way of getting back to the state to hold onto the motorcycle if the police retrieve it and impound it. [link] [comments]  |
| NYC dream rent subsidized apartment or keep mooching off the parents? Posted: 05 Jul 2020 04:02 PM PDT I am on the verge of being offered a rent subsidized apartment in Manhattan which is something that I have been working on for around 3 years (putting in paperwork with various rental companies etc). The apartment is an alcove studio in a beautiful/relatively new high rise with doorman, gym/pool, in building laundry. The subsidized offer is $2000 a month, whereas the apartment rents at about $3500 on the market. It is a 10 minute walk to my office. For context a $2000 studio in Manhattan is almost impossible to come by unless you are willing to live somewhere that clearly has mice/roaches or has no kitchen. If this offer came up a year ago I would be crying with joy because it is so hard to find decent living arrangements in NYC. I moved out of my last apartment on April 1... rent was $2750 for a studio in a slightly less desirable neighborhood and I was just able to squeeze by financially and did not save any money (besides my 401k, pension). However, with Coronavirus many of my friends are taking a hiatus from NYC and there just isn't that much attraction in paying rent to be alone. My parents live about 30 miles outside of Manhattan so I have been driving into work about 3 days a week (my office will pay for parking until October) and it takes about 1 hour 45 mins each way. My parents have an extra old car so I am using that and paying them around $250 per month plus gas. The other option for transportation is public transport which in total takes about 1.5 hours. I am leaning towards continuing to live with the parents until early 2021 and then taking my chances with finding an apartment at that time (with budget of $2500). After living in NYC for about 6 years I have not been able to pay off my students loans ($10,000 left) or save towards future home ownership. As I am entering my 30s I crave greater financially stability. However, it feels a bit ridiculous to give up this opportunity ... what do you think is the more financially responsible choice? [link] [comments]  |
| Posted: 04 Jul 2020 09:28 PM PDT Hi all, as the title says I took a look my family's financial situation. For context, we are a family of four. I am currently in college and my sister is about to enter college. Here are the highlights:
I do realize that perhaps the most obvious solution is to find a new home and sell the cars. But please note that I am currently a one-man army. My dad was diagnosed with depression a while ago, and while he is taking medication, he looks like he has no energy day-to-day. Furthermore, no one in my family really knows how to navigate anything related to finance. As much as possible, I'd like to handle as much as I can as to not increase the burden on my parents any more. I've made a list of ideas I've thought about:
As for the last idea, again, I'd like to try and handle that process as much as possible. My ideal scenario is handling the entire situation and giving my parents the peace of mind they deserve. I'll attach a more detailed summary of our accounts, debts, expenses, etc. below but please ask me about anything and I can try and provide exact figures or more detail. tl;dr Need some help fixing my family's mismanaged finances as a slightly-clueless 20 year old. @@@@@@@@@@@@@@@@@@@@ EDIT: Thanks for all the responses so far! I've taken the time to think a bit about all the information here, but I really appreciate of all the great advice! Here's what I got:
Feeling a lot more in control of the situation now :) [link] [comments]  |
| Overcontributed to Roth - backdoor roth? Posted: 05 Jul 2020 07:45 PM PDT Hi all! This is the first year that I've gotten to the threshold where I can't contribute the full amount (6k) to my Roth due to my income. I've overcontributed a little over 1k based on my income from what TurboTax says. I was originally going to just withdraw the excess amount, but then I remembered reading about doing a backdoor Roth if your income is too high to fully contribute. Are there any cons in doing this? Do you get taxed twice on the income (since I can't deduct the contribution to the traditional ira and it sounds like when you convert the traditional to Roth, it's a taxable event as well)? If I do want to do the backdoor Roth (I have vanguard), it looks like the process may be to open up a traditional ira > recharacterize the amount that I've over contributed to the traditional ira > convert the traditional to a Roth IRA? are those the correct steps? [link] [comments]  |
| Worth taking a disbursement from 401k for a CA/bay area home downpayment? Posted: 05 Jul 2020 07:34 PM PDT I am considering utilizing the CARES Act to withdraw approximately $75k from my 401k. 31/m single, no dependents. I currently have about $175k in the 401k (of which, $50k is in a 401k, and 25k is the earnings on the Roth 401k). This would allow me to avoid the 10% early withdrawal penalty. I also wouldn't need to pay any taxes on the 50k, but would need to on the 25k earnings.
I am considering a condo/townhome in the bay area somewhere between $700k-$850k. I found a nice place I liked for $870k, that's pushing it. Unfortunately, the areas in which I want to live are closer to the $850k range. Is there any reason why pulling out about $75k from my Roth 401k and paying the taxes on the $25k is a bad idea? I suspect that about $5.5k (22%) will probably be taken as taxes. However, having the additional capital will help me with a greater downpayment. I am already above 20% so hopefully obtaining a loan isn't an issue with my low salary (relatively speaking for the area). Any other pitfalls in making this transaction? [link] [comments]  |
| Just got a Fidelity ROTH account Posted: 05 Jul 2020 07:33 PM PDT What stocks should I invest in? Have 12k available. It's not set to autoinvest, so I'd have to do it manually. Planning to hold it long term [link] [comments]  |
| Buying a used car and fix every few years or cheap new car to save in the long run? Posted: 05 Jul 2020 05:53 PM PDT As far as buying a used car I know Toyota would be the safest choice. I am stuck between buying a 7-10 year old car every 4 years and buying a new one every 7 years around $18-20,000. I drive 50 to 60,000 Mi a year for work transporting goods. I recently bout a new basic mitsubishi outlander SUV for 18,000 with a 100,000 mi guarantee and a used lexus for 5,000. I am worried that I drive too many miles and no guarantee is not a good idea and may loose money if the car needs engines and transmissions. Any suggestions? [link] [comments]  |
| Are credit cards really necessary? Posted: 05 Jul 2020 07:24 PM PDT I[21M] started off just applying to cards until I got a yes which was Discover when I was 18, I had a bunch off hard checks for a while but 3 years later and its like it never happened. It's funny they initially said no, then I called and talked to them and they said yes. Fast forward, my credit is great and its helped me secure low rates on auto loans. My gf[20] is now getting into credit and wants to look at them. She wants to open a secured card after she read a little but I personally think they aren't NEEDED. Opinions? ****EDIT: ARE SECURED CREDIT CARDS NEEDED? Is it possible to edit the title??? [link] [comments]  |
| First time homebuyer Professional Loan Mortgage good option? Posted: 05 Jul 2020 06:52 PM PDT Hello! Seeking any intel into how I should proceed. I am moving to a new city where I intend to live indefinitely. I just graduated law school and my yearly salary at my new job is $115k+10k guaranteed bonus once I pass the bar exam. If I am promoted on time my salary will increase to $150k and then be at 200k by my fourth year. I have $10k saved up right now and $68k in student loans as well as personal loan payments of $410/month. A professional home loan seemed attractive to me because of the potential for no down payment with no PMI. Am I being too ambitious? Will the interest rate be predatory on such a loan? I'd love to buy a two family home and rent out one apartment and live in the other until I am ready to buy my forever home. Any intel is appreciated! [link] [comments]  |
| so kinda confused about my credit union car loan. please help. Posted: 05 Jul 2020 04:52 PM PDT The loan is 66 months at 4.79% apr. Im financing a vehicle with an out the door price of $16,500. I put $3.3k down and my credit union sent the remaining balance as a check to the dealership. I assume that meant I would only be financing $13.2k (the remaining balance) for the 66 months + apr, but the contract says it will be $14,800 financed and I dont know where this number came from. Also they have a "finance charge" of $2k. So at the end of the 66 months I would have financed a total of $16,828 which is way more than I wanted to pay for this car, and that's not including the $3.3k down I put. So a little over 20k for a 2017 civic. Any tips or help would be appreciated. [link] [comments]  |
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