Personal Finance Looking for advice to help with my son's future. (Long) |
- Looking for advice to help with my son's future. (Long)
- Payed off my lease, my lease financing company took out two additional payments, and now won't refund the additional money. What can I do?
- I Am Getting Out Of Poverty and....Ready to Learn About Simple Investments/Accounts
- Citibank lost my money and won’t give it back
- Is a title bump but no pay increase normal?
- Current home interest rates?
- Roth 401K 19,500 limit question
- Thoughts on Pet Insurance? We've had over $1000 in vet bills over 6 months
- I am considering hiring my spouse, should I?
- Incredibly basic wage-earner tax question
- How soon after buying a house will I be able to finance a car?
- Broke 26 year old with that wants to learn discipline and be financially free
- Use investment gains to pay off student loans?
- Just separated. Both our names on car finance agreement. Now what?
- A freind in a bad financial situaiton wants to sell a car back to a dealership before driving it off the lot - what would be a fair price? Is there an alternative?
- Questions about ETF
- I'm being claimed as a dependent, but not by my parents?
- Getting a mortgage loan
- I missed a 5 dollar payment and my credit score dropped from 790 to 730 and no longer qualify for loans.
- How much to put down on my car with 1.9% APR?
- Can I trust eToro?
- Paid off medical collections account (11 months old), credit score dropped. Now afraid to pay off the 5 remaining medical collections accounts.
- Contribute 6% of salary to 401k ASAP in case of 401K match cancellation?
- What options do non-working non-us citizen have for a savings account?
- Mortgage Affordability
| Looking for advice to help with my son's future. (Long) Posted: 06 Aug 2020 05:06 AM PDT First some background. My son(40m) has Asperger's Syndrome, because of our lack of understand or diagnoses earlier in his life, he was unable to finish school or get the skills and help necessary to have a job or really even function well. At this point in his life, I am told that he will most likely never have a job/family, will be lucky to even have friends. His mother and I have always taken care of him and his needs, but we divorced in 2008 and have since retired. Since his mother and I were both "blue" collar workers, we don't have a whole lot of money. But because of the assistance of some great doctors advice and them helping get us connected with the right people, we were able to get him properly diagnosed and took the suggestion of applying for disability for him. He has been on disability for about 4 years and we have saved nearly every dollar to try and make up for the past. He lives with me and we have enough money to do okay, but I won't live forever and his mother get's less money than I do and has some health issues that would make it very difficult for him to live with her. Now, he's not incapable of taking care of himself, his major issues is his ability to deal with any kind of social interaction. Even writing an email causes noticeable anxiety in him. But with online stores and ordering and bill paying and such, I think he could live on his own with some reasonable discomfort and anxiety at times. He gets about $9k a year from disability. We've managed to save about $45k by adding some of our money and saving nearly all of his disability. He has a PA ABLE account to save money in, but we just opened that this year and it will take time to get the money into the account (limits $15k a year). I mention that because, when we die he will qualify for SSI and that with his disability should be livable with his minor needs and the ABLE account allows him to save money without it counting against SSI. This is the best we can do, life insurance for me(lifetime smoker and 70) or his mother(disabled now, rheumatoid arthritis, cancer survivor) is just too expensive and we need to being saving for our own funeral requirements so as not to burden him or his two sisters. We have no more money to add and I need half the money he gets to cover his expenses. He's never had a vacation, a girlfriend, has no friends and we have no money or property to leave him. Ultimately I would love to be able to give him something like a normal life. At least the ability to enjoy what little things he can, without having to live in abject poverty his whole life. I know he will qualify for things like food stamps and public housing, but housing won't help since living in an apartment building(all that's available anywhere even near here) would be torture to him. the sounds and having to deal with all those people just to get in and out. Or shared laundry facilities, kids, and the smells. Even seriously considering buying a house and taking a mortgage this late in life and squeezing our finances even further if it will help his future comfort/sanity. He lives a life I wouldn't even call a life and couldn't have survived myself. Goals: Get him as much money as I can before his mother and I die. Get him the ability to live as comfortably for his needs as possible. Get his some measure of disposable income to enjoy what little he can. Make it sustainable for his lifetime. Average U.S death age is 78 right now, my parents lived to be 81 and 93. So baring accident or illness, I think I can make 78 or more as I'm in fairly good health. He would get about another $9k from SSI if he qualifies and gets the full amount. But $18k a year, with his needs and being single is definitely not a lot. I would like to find a way that I can either skip counting on SSI for him in the future and get him to maybe $25k a year with enough increase over time for inflation. Or count on that SSI and find a way to make as much as I can each year on the money before I put it into the ABLE account. I am not well educated and I know of "higher" finance, so if anyone has more suggestions, I'm all ears. Thanks for all that read through and made it this far. And a further thanks to any and all that comment to help me get even a little closer to the goals I have set. [link] [comments]  |
| Posted: 06 Aug 2020 06:18 AM PDT As the title states, I paid off my car lease two months early and then Ally charged me for the two months that I already paid off. Now they won't refund the extra $800 until they sell the vehicle. Is there anything I can do to dispute this? It seems ridiculous that they can hold onto my money when they made a mistake. Is there an agency I can file a report too? Edit: thanks everyone for the advice. I contacted my bank again and they're putting an investigation in place. I also submitted a complaint with the Consumer Financial Protection Bureau. I'll update this post once it plays out. [link] [comments]  |
| I Am Getting Out Of Poverty and....Ready to Learn About Simple Investments/Accounts Posted: 06 Aug 2020 01:53 PM PDT Hello I am in my early forties. I live in the US. Growing up in extreme poverty for my entire childhood shaped my paradigm about money....always-always-always never having any or enough. I am embarrassed and upset about the childish way I have handled money throughout my life. Now I have an 'abundant' mindset and have a few thousand dollars in my savings account. I would like to open another account to put most of that money in, as well as, start putting some money towards simple investments in which I can grow my earnings. I need advice regarding these. If you were stricken by poverty and worked your way out of it and to a state of financial security, or if you were always financially secure and learned how to multiply your earnings, please provide the learning resources or foundation that assisted you (family, friends, classes, anything). Explain the steps you personally took to get there. Anything you share is appreciated and valuable. Thank you so much in advance. [link] [comments]  |
| Citibank lost my money and won’t give it back Posted: 06 Aug 2020 10:40 AM PDT Hello! In late June I received an email from Citibank alerting me to a potentially fraudulent transaction. The transaction was for almost 7 thousand dollars ACH transfer from my Citibank checking account into a Stash account under the name "Matt Speck". I called Citibank to tell them that this was not me transferring the money. I also noticed that there was another transaction of over 700 dollars also to a Stash account, also to the name "Matt Speck". The fraud department found the $700 transaction to be fraud and returned it, however, the transaction of almost 7000 was determined to be valid...something about how Stash claims that I authorized the debit, from an eSignature agreement, it was not clear what they meant by this. I appealed the decision but Citibank again decided that it was valid. I also talked with a customer service rep with Stash who submitted a report, haven't heard back from them. I've submitted a complaint with the CFPB but I'd like to know if there's any advice out there to get this resolved beyond that. This seems like such an obvious injustice but it feels like I can't get the attention of anyone that can do anything at Citibank. Please help me! Thank You! [link] [comments]  |
| Is a title bump but no pay increase normal? Posted: 06 Aug 2020 12:53 PM PDT I got a title bump from ops 1 to ops 2. Ive been here for 10 months. It's officially worded as a promotion, but my manager was clear it's just a title bump. Sort of came out of the blue (not at a review or anything). Ive shown a lot of initiatives with new workflows and side projects, none of which I was asked to take on. With the new title, I havent been asked to take on more responsibility or anything. For work that I take on, they are mindful to take other things off my plate. We only got this level two position this year (growing company) and before that everyone was just ops or senior ops. Manager hinted Im on my way to sr ops. However a title bump without a pay increase seems odd to me. I really only had dead end jobs at other companies, so Ive never had this situation before. Not sure if i should hold off on signing the promotion papers and ask for a raise even though my manager said in the call that this is just a title bump. [link] [comments]  |
| Posted: 06 Aug 2020 06:53 PM PDT Looking to buy a home this year. I've heard the interest rates are low(around 3%) but I've also seen ads with less than that(2.75, 2.80, etc). Are banks really offering interest rates that low? I'm a working individual with a fair credit score(~800). Thank you! [link] [comments]  |
| Roth 401K 19,500 limit question Posted: 06 Aug 2020 08:20 AM PDT Hi everyone, So as most of you are aware, you can contribute a maximum of $19,500 per year into your 401K. I've read time and time again if you are able to hit this max, then do so. Here is my question: I work full time and currently contribute 18% into my Roth 401K. My annual income varies because in my position, I'd say about 65% comes from commissions. With that said, I usually bring in anywhere between $65K-$80K each year. How exactly am I supposed to hit the magic $19,500 when I am only able to contribute a certain % of each of my paychecks, which vary in amount each pay period? Get close to the 19,500 by end of year then guess and adjust my contribution % accordingly? Also, what happens if I hit the 19,500 max, with more pay periods to go? Will it automatically just know not to contribute anymore because I've hit the max? Even if I don't change my contribution % to zero? Lastly, Ive already secured a nice emergency fund which would cover 6-8 months of my yearly expenses, I have it sitting in a high yield online savings. My only debt is mortgage. Should I just solely strive to max out this 401K now, or is it okay to delve into investing into some stocks at this point? Any replies and advice are appreciated. Thank you [link] [comments]  |
| Thoughts on Pet Insurance? We've had over $1000 in vet bills over 6 months Posted: 06 Aug 2020 12:39 PM PDT We got our little guy back in February. He's an orange tabby cat and he'll be turning 3 years old in a couple weeks. He's our first pet. We love him dearly and he brings so much joy to our family. When doing research before deciding to get a cat, we came to the conclusion that we should budget about $1250/year for all costs related to caring for a cat, with 15-20% of that budget being for health care (annual check up, vaccinations, etc). It seemed like there was a low chance of a young cat having major health issues and that pet insurance wouldn't be worth it. Well, our cat has had some issues. Here's a timeline of events: February: Got cat and had first checkup with stool sample. Everything seemed fine. $100. Early May: Cat's pooping habits started to become abnormal. He had been going once a day. But then he started going every other day, and eventually every 3 days. We took him back to the vet for a checkup. Vet said he seemed fine but recommended more hydration and miralax. $100. Late May: Cat went 5 days without pooping. We took him back to the vet to get another examination, urine test, xray, and urine test (which he needed to be sedated for). Results were good and didn't show any serious issues. The urine test was fine. The xray was fine, just showed a lot of poo in him. The blood test was fine, although his liver counts were high at 117 (anything >100 is considered high). The doctor prescribed him special food that helps cats with gastrointestinal issues. The food fixed his poop issues and now he's back to going once a day. The vet bill was $700. August: Took him in today to get his annual vaccinations and another blood draw to test his liver counts again. Unfortunately, his liver counts came back way higher at 189. The vet hopes this is just the result of an infection due to the pooping issues he had in May. He also thinks our cat may have inflammatory bowel disease and recommended we treat him with prescription medication and a nutritional supplement to help with the inflammation and increase his liver health. He'd like us to do this for a month and then come back for another blood test. If the blood test shows that his liver counts aren't going down, then we'll have to get him tested for liver disease. The cost of our vet bill today was $215. If we treat him with the medication and supplement (which we will), that's an additional $150. Then, when we go back in a month to do another blood draw to check liver counts, that's another $120. Of course, if his liver counts don't go down, then he probably has liver disease and we'll need to get testing done to confirm this, and then we'll need to provide continual support to keep him healthy for as long as possible. I imagine the testing and continual support would be very expensive. Overall, we've already spent $1000+ on vet bills over the past 6 months. We have another $270 coming our way this month, and then if he does have liver disease, we'll have many more expenses over the coming years. Would you get pet insurance if you were in my shoes? Based on some quick research, it seems that pet insurance reimburses up to 90% of the vet bill. Also, it looks like we could get pet insurance at around $30/month with a $250 deductible. Which means that if we would've purchased pet insurance from the start, we would've gotten back about half the money we've spent on vet bills so far. We already have $270 of known vet bill expenses this month, so if our deductible is $250 then that would already be met. I have no idea what pet insurance covers and doesn't cover, and I've also heard many people say it's a scam. So I'll have to do more research. But in the meantime, I'm hoping to get Reddit's opinion on the matter. Thanks all. [link] [comments]  |
| I am considering hiring my spouse, should I? Posted: 06 Aug 2020 04:53 PM PDT I own a small business and I work for another company. My small business is just me (software dev), doing consulting jobs here and there. I only started the business this year. I've been doing this work outside of my day job for years, but figured I could be more legit and learn a bit about business along the way. I was talking to an accountant friend of mine and he said I should look into hiring my wife, who is a stay-at-home mom of 2. My wife helps me with parts of my consulting work. Does anyone have any advice on something like this? I know it's possible, but I heard that she becomes an employee and as such, our financial relationship is employee-employee, and the business would pay 4000-ish on average (in what? Fees?). Is this really a good idea? What about a partnership? My wife will be a stay-at-home for at least the next 5-ish years and she will continue to not collect any form of income. As such, she feels like she doesn't contribute, so bringing this up to her lit her soul on fire. I'm hoping this might work out. A happy wife is really all I'm looking for. *Edit: Thanks for the responses. It really is a "rock and a hard place" type of situation. I think, if I look at it logically, I need to shift my wife away from the idea and instead continue to push her toward her interests. [link] [comments]  |
| Incredibly basic wage-earner tax question Posted: 06 Aug 2020 04:39 AM PDT Hi, so I often hear folks state that when they work more they're taxed more. I assume they mean that their paycheck shows an increased percentage of their pay withheld for taxes (W2 employees, of course). But even though that single check may look smaller than it should, come tax season, they're going to owe a tax calculated on annual income meaning it will all even out (whether through increased refund or decreased taxes owed), right? And of course, income that pushes them into a higher bracket will be taxed at a higher rate. Please tell me to clarify if my question doesn't make sense. Thank you! [link] [comments]  |
| How soon after buying a house will I be able to finance a car? Posted: 06 Aug 2020 05:11 PM PDT I have over a 750 credit score and my income to debt ratio is excellent as well. Very low.. outside my future mortgage. However I live in the DMV. Where I live now, I don't need a car and sold mine when I moved to the area last year. Not because I couldn't afford it.. I just didn't need it. Now that I'm in the process buying a house and moving, I will need a car and will have to finance it. I know it is easier to finance a car than a mortgage but has anyone else been able to get approved for a car loan after purchasing a house?? Or will the recent new trade line prevent me from doing so? If it helps, I'm not looking to purchase a new car looking at spending maybe 15k-18k. Nothing crazy expensive. [link] [comments]  |
| Broke 26 year old with that wants to learn discipline and be financially free Posted: 06 Aug 2020 02:25 PM PDT Hey I'm a 26 year old with a pretty shit job. I stay with my parents and I only make about 16-18 k per year. Pretty embarrassing right? I also have some debt. Some from payday loans that I haven't paid back yet. And the rest from one semester of college that I dropped out of. So in total I'm about 10k in debt. That doesn't seem like much but I really need help saving. I'm just not good at saving and I really want to try a scorched earth method of saving money but I don't know where to start. I feel financial freedom is over the horizon but my lack of money and discipline is holding me back I feel if I can find a 2nd job and pay off my 10k debt and be fininacally free at 27 years old by Jan 2021 and maybe go to some type of trade school or technical college and get a career. Is that a good plan? Thanks please offer any tips if you can [link] [comments]  |
| Use investment gains to pay off student loans? Posted: 06 Aug 2020 06:09 PM PDT I've been trading some and made some solid gains. I'm sitting on about $20k of student loan debt and would love to pay it off with some of those gains. Is there a good way or right way to do this? Is there a way that would provide tax benefits and avoid some capital gains taxes? [link] [comments]  |
| Just separated. Both our names on car finance agreement. Now what? Posted: 06 Aug 2020 06:39 PM PDT We've agreed that I get the car. I'd LIKE to refinance or rework the loan to be only me, we financed through Toyota Financial. Also, I was the co-signer on the loan and, while co-owner, she's seems to be the name on the title. To further complicate things, I'm moving from California to Massachusetts in about a month. Any ideas? [link] [comments]  |
| Posted: 06 Aug 2020 12:37 PM PDT First, apologies if there is a better subreddit, more automobile-focused, in which to ask this question. If there is, I'd be happy to learn about it. I'm trying to help out a friend who was in a traumatic situation last month and made some unwise decisions while trying to get out of it, motivated partly by panic and partly by a lack of life experience. One of the things that she did was to purchase a brand new SUV in a city 3 states away from our currently location (they fedexed her the paperwork and had her fedex it back to them), in a city in which she has no friends or family. She does not currently have stable employment and when she gets it it will likely be at a low wage, possibly minimum wage, so she is ill-equipped to afford that car note. After speaking to myself and a few other friends in her support circle, she has decided to undo that car sale by whatever means available and acquire a cheaper car in her current city, so long as that can be done without a huge financial loss. I've spoken only briefly to the dealership at this point; I have not yet spoken to the bank that is her lender for the car note the dealership set her up with. A brief query of the internet on this topic indicates to me that there isn't any simple way to hit "undo" on the purchaing paperwork she has signed. She didn't keep a copy of what she signed, and the dealership has objected to sending us a copy of it by email, citing privacy concerns; she had been telling them that she would come to the city in person to pick up the vehicle, so they had been intended to give her a hard copy. Regardless, they say that the sale is final and can't be reversed, and my understanding based on google searching is that that is indeed the standard for car purchases. In my brief conversation with them, the dealership indicated that her options were to sell the car back to them or essentially do a trade-in for another vehicle, but they wouldn't quote me a price because she wasn't on the line with me at the time, and they objected to speaking about her transactions without her present (understandable). We are inteneding to call them back soon together to find out what price they would offer her. I don't know what price she paid, but it was a new Mitsibishi SUV so I imagine it was in the ballpark of $30k. I believe her interest rate is in the neighborhood of 8%. She was not able to put any money down. The dealership is in Tennessee. As you can tell from some of these details my friend was not in the best state of mind while making this purchase, but in the dealership's defense she may very well have been presenting as a reasonable person making a rational decision. She doesn't have any current disability status or diagnosis of mental illness, although that might be something she will look into in the near future, and she did sign legal documents without coercion...so I don't know if there is any case that could be made that the transaction should not have been valid. My questions are:
Thanks for any advice you can offer! [link] [comments]  |
| Posted: 06 Aug 2020 06:34 PM PDT
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| I'm being claimed as a dependent, but not by my parents? Posted: 06 Aug 2020 08:32 PM PDT Hi all, I recently discovered that I'm being claimed as a dependent by someone because I didn't receive a stimulus check. I filed a 2019 tax return above the maximum wage for dependents. When I called the IRS to find out where my stimulus check was, I was told I was being claimed. My parents haven't claimed me in 3 years or more and confirmed they didn't for 2019. How can I fix this/find out who is claiming me? Will this affect my previous taxes? [link] [comments]  |
| Posted: 06 Aug 2020 04:43 PM PDT Not really sure where else to post this, sorry if this isn't the place. So, me and my boyfriend are planning to buy a house together. We just had our second child in March, and I left my job at walmart because I didn't want my kids in daycare during this time. My boyfriend has continued working but doesn't make enough on his own to qualify. We've finally figured out childcare and Amazon is about to hire me, and I'm wondering how long we will need to wait to apply. We are planning on buying a manufactured home (the ones we're looking at are like $60-70k) and have at least $24k for the down payment. My credit score is in the 750's, 0 late payments. Boyfriend's not so much but he is working on it and it's gone up almost 100 points just in the past few months. The only job I have ever had is walmart and I was there for a solid 4 years, and covid is the only reason for the gap I now have in my employment history. Considering my credit score and everything else, how do our chances sound? Do I need to wait like 6 months? We're staying with my mom and dude we need to get out of here asap lol [link] [comments]  |
| Posted: 06 Aug 2020 04:07 PM PDT One of the first credit cards I got was a Credit One card that has a $5 a month fee and NO autopay option. So you have to remember to manually pay it every month or else they hit you with a late fee. During the height of covid I was insanely busy working 20 hour days for several months straight. I forgot to log into this card and make the 5 dollar payment, I never use the card and it completely slipped my mind. One day I notice my credit dropped 60 points. Credit one actually reported my missed payment of $24 (two months plus late fees) and tanked my credit score. I am now no longer qualified for a couple loans that I had been considering. I literally only have on missed payment on my report and it's for a bullshit card that i dont use with monthly fees (I know it's still my fault). Why is it weighted so heavily though? I had a $30,000 car loan that I never missed a payment on, but my $24 dollar late payment seems to have a bigger impact than the hundreds of thousands of dollars I've put on credit cards and paid back on time over the last several years. Is there anything I can do or do I just have to wait it out? [link] [comments]  |
| How much to put down on my car with 1.9% APR? Posted: 06 Aug 2020 05:58 AM PDT Hi all, so I'm going through the process to eventually purchase a car for myself. The out the door price of the car is ~$27500 and I can secure a 60 month loan with 1.9% APR. I've been going back and forth with how much I should put into the down payment with such a low interest rate. I currently have 18k in my savings (10k is emergency). My monthly net pay is ~$4500 and due to my current living situation I'll be saving a vast majority of August's income, so I'm looking at having about 22,000 in savings in 3 weeks when I likely make a purchase. By the end of the year I'm planning on having ~$30,000 in savings minus the down payment I decide on. My initial gut instinct was to make as large of a down payment as possible (8-12k) to minimize my losses on interest. However, I'm beginning to wonder if it's not worth it to lose the financial flexibility to save ~$1,000 in interest over a 5 year loan. Other goals of mine within the next 2-4 years include buying a house (~40,000 downpayment), get engaged and married, and travel with my SO if the pandemic ever ends. [link] [comments]  |
| Posted: 06 Aug 2020 07:36 PM PDT Hello, let me preface this by saying I have about 1% of know-how when it comes to investment and finances. The 1% is because I at least have a little common sense, but that's about it. I started freelancing recently, and have a little extra money set aside. I've been thinking about investing it through eToro, since (I think) it has a feature that will essentially let me piggyback on other, more well-informed investors' choices. I want to try putting in the minimum of $100 that it requires. I don't want to go in blind, so I would at least like to know about someone else's experience in using the app. Can I trust it? Thanks for any replies. [link] [comments]  |
| Posted: 06 Aug 2020 12:44 PM PDT A few years ago, I was very broke making about $16/hr (I currently make the same I did then, but I have less expenses than I did before). I accrued some medical debt due to doctors not quoting me correct prices for a couple medical/dental procedures and tests. I have about $1300 in collections from this period of time (all medical plus one cox bill for not returning a modem that i disputed). I recently paid off a $52 medical collections account and today I found out that it dropped my credit score. How can I avoid this in the future? Should I not bother paying the debts and just wait for them to fall off, and focus on using my money to open a secured credit card? How can I make sure my credit doesn't fall again? I thought I was doing the right thing by paying off my collections accounts but now i am afraid to continue. (Credit score averages about 550 between all three bureaus). [link] [comments]  |
| Contribute 6% of salary to 401k ASAP in case of 401K match cancellation? Posted: 06 Aug 2020 03:39 PM PDT I've heard companies are putting their 401k matchings on pause due to covid. My company has done this in the past. I have more than enough of an emergency fund. Would it make sense to set my salary to 0% and my contribution to 100% until the total matched for the year reaches 6% of my salary? Is there anything I'm not understanding about the matching? Also, is the match based on my base salary? Do companies typically tell you when they've hit the max matching for the year? [link] [comments]  |
| What options do non-working non-us citizen have for a savings account? Posted: 06 Aug 2020 06:48 PM PDT My folks are legal-residents around 50 that no longer work. They have something around 150K saved up. I don't think they can open up a Roth IRA because of the rule that you can't invest more than you earn. What is the best way for them to invest some of their money? I am a U.S. citizen. If there is some type of joint-account that I can open with them where I (or we) control it and they fund it, then that seems like a good choice. Also, if they lose their legal residency for whatever reason, is there anything to worry about with accounts they can open up on their own? [link] [comments]  |
| Posted: 06 Aug 2020 10:37 AM PDT I see a number of posts in here to the effect of "how much mortgage can I afford." Something I do, and may be useful for others in figuring out how much house to buy, is adding in some amount (for me it's $250) as a monthly additional principal payment. When the house needs something, I put the extra payment on hold until I either pay off the maintenance or repay my emergency fund. Then, when things are going well again, I just go back to paying the extra $250/month. It's great because I don't think of mortgage amount as the "true" amount--I think of it as the 'payment+x' amount, so I budget around the higher number. Not sure if this is the clearest explanation, so here is an example: Mortgage payment (principal, interest, insurance, escrow): $1200 Extra payment: $250 Normal monthly payment to bank: $1,450 --> This is what you should plan to pay every month. But say you need a new refrigerator for $1000. Take the $1,000 out of your emergency fund, stop making the extra payment for four months, and then, after four months, when you have replenished your emergency fund, go back to paying the extra $250 to the bank. If you have budgeted around this amount already, you will not feel a difference. The only change is that you are paying your emergency fund the $250 instead of the bank. [link] [comments]  |
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