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    Personal Finance Potential employer offered pay less than job application

    August 30, 2020

    Personal Finance Potential employer offered pay less than job application

    Potential employer offered pay less than job application

    Posted: 30 Aug 2020 10:34 AM PDT

    I applied to a job that offered $85,000-$100,000 as the starting salary based on experience and education. In terms of experience, I have 18 years in the industry, 10 years experience in a similar role and 1 year experience in that specific role. In terms of education, I have a MBA and a couple other bachelor degrees. In terms of certificates or skills, I can speak two other languages other than English, in which they do business with and I also have a couple certificates that are related to the industry.

    I have had 4 interviews with them and then was offered a job. At the third interview salary was mentioned and I was asked if I knew what the starting salary was. I replied that the listed pay for the job ranged from $85,000-$100,000. At that interview they explained the range and that education and experience determined pay as its set in tiers, $85,000 as one pay tier, $92,000 another pay tier and $100,000 another so on past the starting range until top pay.

    After the fourth interview I was offered the job, but for $82,000. I emailed the HR representative and explained that was lower than the starting pay range that was discussed earlier and I asked for the $92,000 tier since I had experience and education.

    They called me to discuss it saying they recalibrated the pay structure and the pay now starts much lower than $85,000. The new base pay is $74,000 and that $82,000 is the new second tier which was given to me based on the experience and education.

    I have a friend who works for the company and he gave me advice to reach out to a specific person not in HR and let them know I am interested in the job but can't take it at the new pay scale.

    The new pay scale means they will compensate me less than my would be peers to do the exact same job. I also know some would be peers that have far less experience and education who received an offer of $85,000.

    I know it would be unorthodox to reach out to someone other than the hiring managers, and I am really interested in working there, but I also do not want to be that under valued. Should I reach out to the specific executive my friend mentioned and discuss it with them?

    Tl;dr: employer listed one salary range, even discussed that range with me briefly at the third interview then offered something far below.

    submitted by /u/ADuckOnQuack2
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    Buyer paypal chargeback scam

    Posted: 30 Aug 2020 09:20 AM PDT

    About two weeks ago, I sold a pair of $500 dollar shoes that I bought from a legitimate and trustworthy store to an individual online using paypal invoice. When the customer received the shoe, he texted me and claimed that it was fake because the stitching did not light up under uv light. For these kind of shoes, uv test could easily be rigged by applying a coat of liquid, and additionally the stitching varies between each pair. I told the customer to run the shoe through a legit check app and he said it passed, but he was still skeptical. I completely understood how he felt and although I knew the shoes were not fake. He then opened a dispute on PayPal, and I offered him a complete refund with the return of the shoe through paypal. However it seems to me that the buyer is trying to scam me my getting his money back and still keeping the shoe. He did not reply over 2 weeks to my offer and just recently filed a chargeback through his bank. I checked my email and was notified that the buyer filed a chargeback with their bank. Is there anything I can do to get my shoes back or beat this case?

    submitted by /u/gaylonethugg
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    Property Manager pushing me into security deposit insurance program

    Posted: 30 Aug 2020 02:44 PM PDT

    I recently signed a lease on an apartment for one year. The real estate agent mentioned in the tour that they use a security deposit insurance program, Rhino. She quoted the program as costing around $5/month and covering the security deposit entirely.

    However, after the signing the lease (and paying first + last), the deposit program quoted me about $60/ month or $720 for the year. The lease makes no mention of the security deposit program, but in fact says that my deposit is held at a local bank (not sure if this refers to the first + last).

    The management company says its required, but seems fishy that it isn't mentioned in the lease and not to mention I wont see they $720 ever. I'm much more comfortable giving a cash deposit I can get back assuming no damages. I just feel the property manager is making commission or something.

    Can I fight this if its not officially in the lease? Any help is appreciated!

    submitted by /u/throwaway02129
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    30 day battle with Microsoft over a refund for a $1500 product I returned

    Posted: 30 Aug 2020 12:57 PM PDT

    Hey all, not sure if this is the place to go to, but I am at a loss for what to do.

    In March of this year, I bought a new laptop from Microsoft. Unknown to me this laptop had a design flaw that causes the screens to randomly crack. My screen cracked and they sent me out a new one. The new one cracked a week after I got it as well. At this point I just wanted my money back for the laptop. However, due to covid, all the physical stores were closed down meaning I could not return the laptop. In early June they started doing returns by mail. I sent the laptop back on 6/22 and UPS said it was delivered on 6/29 but I had not heard anything from Microsoft.

    7/7 A couple of days later I called Microsoft to confirm they had the laptop. It took a bit but they finally confirmed they had received it and had told me I would receive the refund in 3-5 business days.

    7/12 After receiving no refund and hearing nothing, I call back and am essentially told the same thing. "The refund has been processed, please wait 3-5 business days.

    7/18 Same thing, the refund has been processed, please allow 3-5 business days.

    7/23 Called again, "refund has been processed for sure this time, please wait 3-5 business days for it to clear"

    8/1 Still no refund, I call Microsoft again and this time they tell me they had an issue and a refund had never been started. They told me they would figure it out and let me know what was going on.

    8/10 Still no refund or call back. I wait on hold for an hour and 15 minutes and never get anywhere with anyone.

    8/17 Call back and am told that they will be sending me a physical check in the mail and to wait 10 business days for it. Ask to speak to a supervisor, "all supervisors are busy, one will give you a call back when they are available" Never received a call back.

    8/30 Call back and speak with someone and am told to allow for 10 more business days for the check to arrive at my address. I ask go speak to a supervisor and for the first time I actually get to one without being disconnected. Supervisor tells me the check was sent out and there is nothing they can do on their end. They will call me when they have an update.

    I am at a loss for what to do. I held onto the laptop not using it for 3 months until I could return it. They have had it for a month now and there is no refund in sight.

    Any help is appreciated.

    Location: Georgia, US

    submitted by /u/jaydogn
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    22 years old - $20k in debt, please HELP

    Posted: 30 Aug 2020 07:16 PM PDT

    My situation - HELP

    I am a 22 year old male living in NJ, USA. I currently live with my mother. I am recently unemployed. However, I have a background in pharmacy as a nationally certified pharmacy technician. I am also currently about $10-20k(20,000) in debt... I would give an exact number but it depends whether or not you want to include my federal student loans debt.

    As in debt, meaning: credit card debt(both active and non-active or in collection status), federal student loan debt, and 2 personal loans that are on the higher side as far as amount.

    Literally nothing is up to date. Not even my car payments - I am 2 payment behinds on that. I am about to be due on my car insurance as well. This is all a nightmare for me as I am currently selling possessions to attain to my food/basic needs.

    Now I can sit here all day and explain how I got into this debt, but it would seriously take a long time. What I will briefly say is that I have fully learned from my mistakes(which were done between when I was 18-21; almost 23 now), and I know it will NEVER EVER happen again. Also, a huge reason I got into it is because of my health. My health is I would say poor. I have multiple chronic illnesses - that I would categorize as debilitating/pretty severe, which is why I am currently not employed either. That is actually why I left my last job in pharmacy because I could not handle it overall as my symptoms were flaring making me much much worse..

    As I am very much a person that is very hard on themselves, I would appreciate nothing but some help/advice here... I am so lost on what I should do -

    These are my thoughts:

    1.) I know that I potentially/more than likely have to get at least another job in pharmacy that gives me at least 20 hours per week. I say this because if I were not to work in pharmacy, I would make much less per hour compared to working in pharmacy since I am nationally certified. Minimum wage is generally $11.00/hour in New Jersey. Certified pharmacy technicians make around $14-22 per hour depending on what type of pharmacy it is(hospital, retail, infusion, etc.). I also say 20 hours per week at least, but I'm actually thinking at least 40 hours if I really want to get out of debt, which I do!

    2.) Once/if I get a job, I will have to enroll myself into a debt management program - specifically "National debt society". I would do this to hopefully condense my debt into one, lesser payment and the people working in the program would call my debt companies/agencies to negotiate or lessen the amounts and interest percentages.

    3.) Not financially related, but work better and harder on my healthcare needs - sometimes I will confess that I don't take care of myself the best - meaning exercise, eating right, etc. - and even though I am too sick sometimes to do so, I think there are also times when I am having a "decent" day but I still slack off. More self-discipline is mainly what I'm referring to here.

    4.) What the heck can I do about my current payments?! Mainly my car payments and car insurance payments - my car payment is $377/month and I'm 2 months behind on it, plus upcoming Sept. another payment is due on the 25th. My car insurance payment is $265/month, however, because I was behind on payment previously, I owe about 1.5 payments due tomorrow(8/31/2020)... Or about $475 in car insurance..

    5.) File bankruptcy? If so, chapter 7 or chapter 13? I don't know much about this topic, but I know chapter 7 stays on your credit report for 10 years and chapter 13 stays on your credit report for 7 years. That's why I don't want to do it at all, even if my situation is truly that bad..

    6.) Thoughts on title car loans or pawn car loans? In NJ, I know if I do a title loan then I get to keep driving the car, but they usually require you to show proof of some type of income. And pawn car loans seem extreme due to you having to basically pay 200% interest or more, so that seems like it would be a complete mess.

    As far as my credit score goes, it is absolutely terrible due to my debt/collections/missed+late payments/and more... - It is a score of 430

    I am and feel trapped, lost, angry, upset, and at a loss of words honestly guys... Any advice, tips or knowledge you'd be willing to give me I am willing to take.

    Thank you guys in advance!!

    submitted by /u/DDirty-
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    My boss connected me with a friend of hers who is looking to hire someone with my skills.

    Posted: 30 Aug 2020 08:00 PM PDT

    I'm in an industry heavily impacted by Covid. My boss called me recently to let me know that our pay cuts are going to continue for the foreseeable future. She then told me that she has a childhood friend in a business that is booming and he's looking for someone with similar skills to mine, it's just a very different industry.

    She's not been a snake in the past and I'm worried that she knows something that she can't tell me and is trying to throw me a bone. The thing is I LOVE my company and I don't want to go back into the industry that her friend works in unless the pay and benefits are great and my current job is in jeopardy. I spoke to the guy on the phone as an intro, sent my resume, and he just sent me the job description. I can definitely do this job, I'd be good at it, I was just looking to move in a different direction and have invested a lot in doing so (grad school related). Would it be bad form to ask for the compensation/benefits package before moving forward? Should I just move forward and see what happens? I'm lucky enough that I can still afford my expenses with my pay cut, it's just been tight.

    submitted by /u/Life_Test
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    I like the company I'm currently working for, but I feel like I'm being undervalued. What's the best approach if I'm looking to try to get closer to a desired salary?

    Posted: 30 Aug 2020 02:20 PM PDT

    Here's my current situation: I've been with my current employer for about 1.5 years now, and it's my first post-college job. My current salary is $50K with up to a 10% bonus (bonuses are a near-guarantee, so my salary is all but essentially $55K). In regards to benefits, there's no match on our 401K. They only cover 50% of insurance premiums, but I don't have to worry about insurance yet. Looking into the future, I have heard our premiums are somewhat high due to our company's size. For PTO, I get two weeks vacation + five personal days a year.

    For the most part I enjoy working for my company. The environment is really laid back, and almost everyone is around my age. The company is a small startup (~30 people), so there's opportunity for growth. On the other hand, due to our size I sometimes feel overworked and the work can be highly stressful at times. We've been successful in that we have a lot of business, even during COVID, but we just don't have enough people at times for us to not be overwhelemed. During this year I've also gone from supporting two workstreams and leading one, to now leading all three workstreams plus supporting a fourth. However, I don't really even mind the workload most of the time; my biggest complaint is that I feel underpaid. Most sites I've looked at has the average salary for my job/area at around $70K. I don't think I would reach that salary at my company for another 3 or so years without asking for a significant raise. Last year I received a raise during our end-of-year review, and it sounded like that's the typical route for them. Based on what I know I'm thinking this year I would probably get bumped up to $55K (so about $60K with bonus). I'd really like to get my salary up to at least the $60-65K range.

    What I'm wondering is what's the best way to approach trying to get my desired salary increase? My initial thought is to wait until our end of year reviews to discuss this, but I don't know if at that point it would be too late if salaries are already determined. Is this something I should bring up before then? I've also considered if I should possibly look into searching for another job. I don't necessarily want to leave my company, but I'm open to the possiblilty. If I did go this route, should I wait until closer to the end of the year or after our reviews to see how that plays out? Even if I started looking now and was able to find something within the next month, I would be making the equivalent of $70K over the last 3 months by staying if you factor in the bonus.

    submitted by /u/TacosAreVegetables
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    PLEASE HELP. Sales tax saying I owe $45k when I only made $3k in 2019.

    Posted: 30 Aug 2020 06:22 PM PDT

    PLEASE HELP. Sales tax saying I owe 45,000 when I only made 3,000 in 2019.

    I made less than $3000 last year in my first year of business. The state taxation for sales tax says I owe them $45,000 between January and May 2019 including penalties and tax owed.. How on earth is this possible we are freaking out.

    I was an independent contractor for a different massage place as well as on my own independently in a different small town. I am now realizing that on my taxes our tax person put the other massage business as my business but with my tax ID. Could I be getting these because of the other business even though it is not my business. So confused because the letters are headed with my business name. But there's no way this could be accurate because I did Not make anywhere near this amount.

    Any help would be greatly appreciated because the late fees alone equate to $14,000 and there is no possibility of me paying this in 60 days.

    submitted by /u/ColeWayneB
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    Credit scores are wildly inaccurate. Help!

    Posted: 30 Aug 2020 04:39 PM PDT

    So I am house shopping and have a couple of inquiries in the last 6 months. I checked my transunion credit report and it says my score is 661! This makes little sense since last I checked a couple months ago it was 780. I paid for the 3 agency credit report and all 3 (TU, Equifax, Experian) reported 661. When I look at the credit history graph, I see that it is stuck at 661 since a year ago, which also makes no sense since I just checked 2 months ago at 780.

    So I made an experian account and checked here. On experian.com the credit score says 752!!. I opted for the 3 bureau report on experian again and see that all 3 agencies reported around 748-752. Experian is also giving me a history where I see in the last year, my credit score climbed from 725 to 827, and back down to 752 due to the two recent inquiries.

    I then created an equifax account. Equifax reports 702, and in this websites 3 bureau report, it says TU is 661 and experian is 688. Im totally confused now. I have 0 delinquencies, late payments.

    submitted by /u/shinyredcarpet
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    Should I sell my new vehicle to get rid of my loan, then get a smaller personal loan for a pickup truck and pay that off in a few months?

    Posted: 30 Aug 2020 08:15 AM PDT

    I currently have a loan out on a 2018 Jeep Wrangler with 36680 miles on it, loans about $20350 right now, making $394 payments (9% interest rate for 5 or 6 years)

    I was wondering if it would make sense to try and sell it to a dealership for the value of the loan, plus whatever extra if I can swing it, then take out a smaller loan for a pickup truck one of my coworkers is selling for about 4-5 thousand. I'm about to deploy to Iraq in January so I'd be able to pay off that smaller loan within a month or two simply from saving almost all my money and a little bit of extra pay we get. I'd much rather have an older vehicle like the pickup truck and not have any payments on it for a long time, separate of course from whatever the insurance might be.

    submitted by /u/pythondick
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    Saving for a house to fulfill my mother's dream

    Posted: 30 Aug 2020 08:43 PM PDT

    My mother is 56, coming around the age where her children (including me) are starting to grow up and move out. We always talked about coming together to buy a house to live happily ever after and all, but we're starting to give up hope as we move apart. I don't want her to leave this world without that dream fulfilled, and I'm desperate. I'm an 18 year old Walmart employee, what can I do to save up to that degree? Any advice is extremely useful!

    submitted by /u/Lildove20
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    Aging Parent Post-Divorce Housing

    Posted: 30 Aug 2020 01:34 PM PDT

    Situation:

    I have an aging father ~age 64 ish, still employed- though recently physically disabled, employment and future employment prospects are not particularly high.

    Father recently just completed his 4th divorce, which, would you know it... when you're constantly splitting your net worth in half, you don't have a lot left by the time you hit retirement age. As a part of the divorce, he owes ~30k to ex-spouse.

    Assets:

    • $10k 401k
    • ~ 90k equity in a ~100k house

    Debts:

    • 30k divorce settle
    • Underwater on at least one vehicle
    • Possibly a personal loan of ~20k due in 2021
    • Probably a whole other treehouse of horrors if/when I ask...

    So, on to the story, ol' man hits me up with a proposal... I pay him $50k cash and in return I own his house where he continues to live until curtain close. He pays no rent, but pays all utilities, taxes, etc. My $50k pays off ex-wife, the remaining $12k mortgage and probably misc debt. In return, I own a property valued at ~100k. I don't particularly want to own this particular property- its in a dead end town with no growth prospect.

    I'm the only child of his first marriage, so no siblings to spread burden amongst. I have my shit together, not like FIRE level finances and I suck at investing- but doing the right things with emergency fund, college savings, minimizing debt, etc.

    The other thing... we're not close. I mean, the dude sorta tries and has tried- good heart, terrible choices along the way. I can specifically remember a situation where applying for college aid that I was denied low interest fed loans because my dad's income was too high to qualify and so he was assigned 33% ish of my college debt expenses- but contributed absolutely nothing. I ended up with private loans and paid off everything after school except for around 10% of the cost that my mom was able to pay even though her financial means at the time were far lower. I can remember endless bitching when growing up about how the judge had assigned his support to be too high and my mom shouldn't be buying name brand school clothes with his crazy high support.

    I don't mean to turn it into a personal story on personalfinance, again, good heart and we're good now- but there is a certain degree of "fuck 'em" that I feel when talking about supporting a guy that worked his way out of his obligation time and again. Idk, maybe I'm being petty here.

    I will be asking a lot of questions about his finances, I feel like the publicly available stuff paints a bad enough picture and so the more private skeletons have to be way way worse. Even if buying the house were a good (or hell even "only a little bit bad") investment, I feel like this now connects us financially and on an expectations of future dynamics greatly. ie. if he's in debt and the debt holder is aware he lives in a house owned by family- I don't want any part of that.

    Guess I'm just looking for some good questions to ask in this situation to evaluate it further... or if this is an immediate "No, run the fuck the other direction, NOW!". I don't particularly want to see him homeless and in a situation causing death of despair- but I've worked hard to stabilize my own immediate family and don't feel strongly about sacrificing much of that when I don't feel any sense of owing an inch for a limited supporting role in childhood.

    EDIT: Thanks for all of the responses so far! I'm sensing a trend...

    submitted by /u/Katiklysm
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    Ally for Savings Accounts?

    Posted: 30 Aug 2020 08:31 PM PDT

    Is Ally still a good option for savings accounts?

    I see most big banks APY's are around .01%. Recently Ally's APY dropped to .80% and I'm wondering if it's still a good option or if I should look elsewhere to store my savings?

    Thanks everyone

    submitted by /u/LateAiolio
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    I’m 23, I have low income and high savings, what should I do with my money?

    Posted: 30 Aug 2020 03:21 PM PDT

    I haven't got a job with my degree yet, but I saved everything I could basically my whole life. I went to community college followed by a cheaper four year school and commuted to save money. I've built up a fairly large savings account, but the money is just sitting in a regular, low interests savings account.

    A bank teller has asked me if I'm sure I want to just let it sit there, I just don't know enough to know what to do with it.

    I make like 10-16K a year right now, living with my parents and have low expenses. As soon as I find a job and move out that will change.

    Is there something smarter to do with my savings? I want to keep some money liquid and available (for an emergency fund basically) but the rest of it is just there because I didn't spend it.

    submitted by /u/Specific-Throwaway
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    Cashier's check fraud

    Posted: 30 Aug 2020 02:38 PM PDT

    Over the decades I've bought and sold a few vehicles using Craigslist/ WantAd/ etc and paying or being paid with a cashier's check. I'm in the US.

    I posted on Craigslist to sell my boat for 13k. A buyer agreed to terms and sent me a cashier's check drawn on a bank which seemed to be real, but was out of state. The check cleared.

    The buyer would not be clear about when they were going to pick up the boat. I need it gone. I withdrew from the deal. As their cashier's check had cleared, I sent them a cashier's check back.

    A week later, their check was "withdrawn" for fraud. My bank (a major US bank) says that they will not pursue the cashier's check they issued, nor the cashier's check which they say is fraudulent, and that the entire transaction is my problem. I'm out 13K. I, like most folks, do not have the resources to independently pursue a fraud investigation. Legal fees might be 13k.

    What should I do?

    I will no longer accept bank checks for any amount of.money I'm not willing to lose. If you want to buy my car/ boat etc it's a direct wire transfer from a major or well known local bank, and I have to independently verify that it has cleared. I suggest everyone do the same. The old system is broken

    submitted by /u/strugglin_man
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    Should I close my brand new Discover Student Card?

    Posted: 30 Aug 2020 04:26 PM PDT

    I wanted to build some credit history as an incoming college freshmen. For my first credit card, I applied for the Chase Freedom card a week ago, but I believed I had a low chance of getting approved so I applied for the Discover Student Card. Now I have 2 credit cards, but I would rather just keep the Chase Freedom. I kind of want to close the Discover, but wouldn't that negatively affect my credit score? Should I just utilize it one a year or something to maintain it or just close it off now since there isn't any history with it?

    submitted by /u/yeeyee328
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    Money Stolen from bank account; how to proceed/prevent in the future

    Posted: 30 Aug 2020 08:09 PM PDT

    Hi guys,

    ​

    A few days ago someone stole $450 from my bank account. I contacted my bank and they said they would issue me temporary credit (not sure what that exactly means), but my question here is what steps can I take to ensure this does not happen in the future? I don't even take my debit card out with me when I go places, so its impossible for anyone to steal it. I dont use apple pay or venmo or any cash app either. I did do a little bit of online shopping with my debit card, which is where i'm assuming the hackers got my debit card info from.

    ​

    The bank said they will issue me a new debit card. But is this enough? Will the hackers who accessed my bank account still be able to access it if I get a new debit card?

    ​

    My internet is protected enough; I have wifi password, mcafee protection on my computer, etc. Idk what else to do to prevent this stuff from happening.

    submitted by /u/SourSweetUmami
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    How much will I be taxed for selling ESPP stock within 6 months or 1 year?

    Posted: 30 Aug 2020 08:01 PM PDT

    Hello! My company offers a purchase of ESPP stock at a 15% discount, every 6 months. You can keep or sell the stock every 6 months. Is it better to sell it once I receive it in 6 months or keep it for a year or longer? What will the tax % be if I sell it in 6 months versus a year or more? Thanks!

    submitted by /u/nsedlazek
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    Am I too young to start an IRA?

    Posted: 30 Aug 2020 05:46 PM PDT

    I was thinking about my future and how I would set up for it, even though I'm only 26 and retirement is the last thing I'm thinking about.

    I called two places to start an account for an IRA and both people on the phone told me to 'take some time to think about it' and come back in a couple years.

    I've already discussed with a financial advisor, I know I can afford it and can hopefully put in the max amount per year, should I just try putting it in a savings account for myself instead? Do you guys know any companies that would be good to start up an IRA with? Perhaps I've been talking to the wrong people.

    submitted by /u/oilux
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    Roth IRA and Magi

    Posted: 30 Aug 2020 07:45 PM PDT

    Hi everyone. Earlier in the year I opened a Roth IRA and currently have put in 4K. I recently got a raise for my one year at the job and on top of that was just promoted which further increased my pay. My "adjusted basic pay" has now moved up to a little over 127k with my take home total at this time being almost 99k. Take-home pay is about 6k a month. With simple math I would be very close to 124k take home at the end of the year, prob over because of all the holidays coming up. Roth income restrictions start at $124k.

    My question is: should I increase my 401k contributions for the remainder of the year to say $700 each paycheck to hopefully lower myself under the 124k MAGI or just do the Backdoor Roth right now?

    **I currently only contribute about $275 a paycheck to my 401k because I have been funneling all my money to paying off my student loans. Next year I do plan on trying to max out 401k though.

    Thank you for all your help and please ask if any more info from me is needed!

    submitted by /u/Firechaser89
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    Denied for Discover Secured Credit Card. What next?

    Posted: 30 Aug 2020 07:43 PM PDT

    Hi all! I've been an authorized user on my mom's credit card and after a few months I checked my FICO score through Wells Fargo (where I bank) and it said I had a credit score of 719. However I want to get my own credit card so I can get rewards and buy things without my parents seeing everything I buy. I tried applying for the Student card with Wells Fargo and they denied me, saying I didn't have enough credit history and my DTI was too high (how? I live at home and my college is paid for). I waited about 4 months to apply for the Discover Secured Card because it offered better Cashback and I figured it'd be easier for me to get since I'd be putting a security deposit down, but I still got denied, this time for having "lack of experience with a high credit limit". When I called Discover they told me that when they pulled my credit from Experian it shows my mom's Credit Limit of $25,000 but only my utilization which is less than 1% and they can't justify approving someone for a card if they aren't going to use it very much. The person from Discover told me I should be taken off as an authorized user from my moms card and try again for a student card in a few months. Should I follow their advice or are there alternatives?

    submitted by /u/Cropduster0209
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    I am clueless about my 401k. Advice needed.

    Posted: 30 Aug 2020 03:54 PM PDT

    Hello r/personalfinance

    So today I looked into my 401k for the first time since I opened it in 2018. If there is any advice or information you can share about what's going on in here, I'd really appreciate it. Specifically, I noticed that I can adjust what is being invested with my 401k (I didn't even know that was a thing.) I am in my mid-twenties and need some direction.

    Here is what my employer has set for default: https://imgur.com/a/1i01JtW

    And here are three screen shots of the available options to me: https://imgur.com/a/VRF2Ed7

    Can anyone provide some advice, insight, or any recommendations about what's going on here or where I should put my percentages?

    EDIT: From the comments it seems all of these are bad, except maybe FINX, AAL2, and ABSC? Should I split between these three? In what % ratio?

    submitted by /u/Onii-chanOnly
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    $75k in charged off private student loans. How to rebuild?

    Posted: 30 Aug 2020 07:37 PM PDT

    Long story short, I defaulted on my private loans back in 2015 as they were at 13% interest rate, expecting basically $2000/mo, and I was making $35k/yr fresh out of college.

    Fast forward to today, I finally got my feet underneath me. I've held a job now making ~100k/yr for 6 months. I've been snowballing debt down left and right. I'm working to fix all the bullshit I left for myself over the last 5 years. Throughout this entire process, I have never missed a payment on my federal loans, but I haven't made a payment on my private loans in ~4 years.

    Charged Off Debt - $75k

    Federal Loans - $41k (@ $600/mo PAYE)

    Current income - ~$100k

    Take Home - $60k ($5k/mo)

    Monthly Expenses - $3.5k/mo

    I can spare about $1k/mo until April of 2021. After that, I will have another $500/mo to snowball my debts down.

    Now that I'm in a position to start paying on these private student loans that have been charged off, how do I start? Should I give my creditor a call and figure out a repayment plan? What options do I have and what should I expect? Should I offer them $1,000/mo to start repayment and just fire as much money into this debt as humanly possible?

    Any advice would be greatly appreciated.

    submitted by /u/studentloandebt0
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    How can I fix mortgage (refi) lender error in financing closing costs into loan?

    Posted: 30 Aug 2020 07:29 PM PDT

    I repeatedly (written & oral) told my lender I would pay all closing costs on my refi in cash, and they confirmed orally they would adjust the loan estimates near closing time to reflect that.

    Lo & behold I just got my closing disclosure, we're 5 days away from closing & they went ahead and rolled some of the closing costs into the loan. Now they tell me it will delay closing if I try to make the change.

    Should I just go through with this refi & pay the excess "loan" amount a few days after we close? My whole goal here was to avoid having extra principal that would accrue compound interest. This issue is on top of many other aggravations, including taking 4+ months to close since my refi application in spring.

    Thanks in advance for any suggestions/insights.

    submitted by /u/nuffle01
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