Personal Finance I'm getting a ton of letters from my insurance related to my wife's high risk pregnancy issues that say "not covered" but they also say "patient owes $0". What's going on here? |
- I'm getting a ton of letters from my insurance related to my wife's high risk pregnancy issues that say "not covered" but they also say "patient owes $0". What's going on here?
- Offer to buy my home
- Boyfriend's credit being ruined by ex wife's late car payments, is there a way to fix?
- Is it out of the question to ask for a temporary raise while we are understaffed and I'm overworked?
- Questions for Car Dealership Newbies: any advice ?
- Apply any extra payments on your loans to principal!
- Out of options for school and wondering how to move forward without my parent’s assistance.
- Bad experience with Quicken Loans
- Jumbo loan with less than 20% down?
- Budget for a 23 year old
- Parent's health is declining fast, need help with next steps
- Ever just feel like blowing money ?
- Any help for those of us stuck in flight credit purgatory
- Is it better to pay down student loans or best to do PSLF and contribute to retirement, HSA, etc?
- Can I save money by not buying a car but rather relying on Uber for transportation?
- I want to move to a nicer house but don't want to repeat the mistakes my parents made...
- Am I doing the right thing with my whole life insurance plan ?
- Received unsolicited US Bank “Focus” debut card.
- Is it reasonable to do a background check on a mortgage broker or lender I want work with to buy my first home? How do you "look into" a lender to make sure there's no red flags?
- Husband passed 5 years ago. Is it too late to try to get his social security pay?
- Which bill do I payoff?
- What do I change on the 2020 W-4 so that I have exactly $300 less withheld from my monthly paycheck?
- Roth/Traditional IRA/401ks - 22yr old that has no idea what to do
| Posted: 26 Sep 2020 08:35 AM PDT My wife is high risk and has been seeing a lot more doctors than a normal healthy pregnancy. Twice she's been at the hospital for a 3 day stay. We just got a "explanation of benefits" letter in the mail like this. We've actually been getting a lot of these. Anywhere from $150, to this big $11,000 one today. They all say we owe $0, and they have the same remark code, 435, about resubmitting with an explanation. Do I need to do something proactive here? Or should I be prepared for a bunch of bills from the hospitals and doctors she's been seeing? We've already paid about $900 in copays for all our visits. about $500 to the hospital from two stays, and $30 twice a week to other doctor offices. We even got a letter with this remark code when she visited her primary care doctor for something entirely unrelated. Not to mention the bills are going to keep piling up. The baby isn't coming for another month. Any advice would be appreciated. [link] [comments]  |
| Posted: 26 Sep 2020 12:35 PM PDT My home was just recently refinanced at $215,000, worth about that amount. I recently had an unofficial offer for my home for $300,000 ("where we can 'start' negotiations") from my "neighbor", a rundown gas station in rural Colorado. He's looking to sell his base gas station and my neighboring 1/3 acre as a truck stop, which would be the only one in about 90 miles. Were I to sell my property for almost $100K more than it's worth on the market, am I looking at paying half of it in taxes as income? I currently earn about $65K/year - I don't want to have to give up $50K in taxes because I earned an extra $100K this year. How can I anticipate how much of my "profit" I'll have to give to Uncle Sam? Edit: ok, so my gains would be approximately $85,000-$90,000, which is less than the $250,000 required before it is taxed. Thank you all for the quick responses, I was worried any advancement I could provide for my family would be swallowed whole by Uncle Sam. [link] [comments]  |
| Boyfriend's credit being ruined by ex wife's late car payments, is there a way to fix? Posted: 26 Sep 2020 11:02 AM PDT Basically what the title says. He financed a car with his ex wife, she has failed to make payments on it, and his credit is being negatively affected by it. They are divorced now, is there a way to fix this? [link] [comments]  |
| Is it out of the question to ask for a temporary raise while we are understaffed and I'm overworked? Posted: 26 Sep 2020 10:03 AM PDT I work as a manager in a restaurant. Lately we have had some nasty turnover, and it's harder and harder to run shifts. I'm the only manager with full time availability, as the others are all in college or high school. This means I have to work my schedule around theirs. I'm lucky if I can manage two full days off in a week. Next week I have to work four 12+ hour shifts back to back, with only 1 day off, and close to 60 hours. It sucks. I enjoy my job, but it's getting harder and harder to maintain a positive attitude. I can't concentrate on any administrative duties that my boss wants me to work on because I am too busy running shifts. I have no time off the floor to do anything unless I come in earlier or stay later. Hate to say I've been thinking of moving on to something else, but honestly I don't know where I would go. Restaurants are all I know, and I know everyone is struggling right now. Would it be out of the question to ask for a temporary raise until we can get through this understaffing crisis? I make a decent salary I guess, but that is only based on me working around 45 hours a week. If I am getting over 50 or 60, I am not paid any more. I feel bad asking for that, but I am just not seeing the light at the end of the tunnel here. I spend so much time working that I feel I have no time to spend with my wife, or for my own personal hobbies. At least if I was making more money it would be worth it. Maybe some way to calculate extra money for overtime for each hour I stay after 50 hours? Is this something that can be done? [link] [comments]  |
| Questions for Car Dealership Newbies: any advice ? Posted: 26 Sep 2020 11:03 AM PDT Me and my girlfriend are looking at this dealership for a new car because they're having a pretty good looking sale; Guaranteed Credit Approval $0 Down payment 0% Finacning for 72 Months No payment for up to 90 days Get up to $4000 Over Appraised values What does this mean in simpler terms and is it a good deal ? Also what other questions should we be asking as well ? Thank you ! [link] [comments]  |
| Apply any extra payments on your loans to principal! Posted: 26 Sep 2020 01:41 PM PDT If you're making additional payments on a loan or mortgage, be sure the lender isn't applying your payments to upcoming due dates. Instead, have the extra money directly applied to principal (the outstanding loan amount). This reduces the balance of your debt and decreases interest owed so that you will pay the loan off faster. In my case, I initiate extra payments directly from my mortgage lender's website and click on "apply to principal." Some lenders call that extra payment "curtailment." [link] [comments]  |
| Out of options for school and wondering how to move forward without my parent’s assistance. Posted: 26 Sep 2020 06:11 PM PDT I entered school with a near full ride and was still bogged down with student loans due to having to stay on campus the first year (college rule). The next year I ended up falling ill mid semester and having to go on medical leave. I ended up with a $7000 hold on my account keeping my transcripts hostage until I pay it in full. It has been a year since then. I am frustrated and determined to finish my degree. This year I saved up enough to pay this debt and have it in my savings account ready to pay this week. The problem I'm facing is if it's a good time. Being unable to work and young I ended up racking up credit card debt. This is partly due to the fact that my home situation is unstable and so I have to buy my own food and utilities even though I live with my parents. I ended up quitting my job last week as the stress from harassment was becoming too intense. Unfortunately my parents can also no longer support me to pay school. No parent plus, no private, no co-sign. Over the past year I've tried and failed repeatedly to secure a loan just to pay that transcript off due to my credit history not being long enough. I've been applying for scholarships like crazy but at this point it doesn't look like I'd be able to attend like I planned. I understand the FAFSA will only consider me independent under my circumstances when I turn 24. I am 22. My desired degree(engineering) doesn't play well with working full time. Currently I have $1000 in my checking account. $16,000 in credit card debt. And a $7000 transcript I cannot use until a year from now. Is it the best idea to pay off a debt with no interest on it for something I can't use because I can't pay for school yet? Would that money not be better spent starting to pay those high interest bills, hold me afloat until I get another job (am being interviewed for another full time job) and get another car, etc? Or even move to live with my relative in Sweden, qualify for citizenship and get free tuition there? Any insight would be greatly appreciated as I'm ready to give up. Thanks in advance:) [link] [comments]  |
| Bad experience with Quicken Loans Posted: 26 Sep 2020 09:52 AM PDT My current mortgage is with Quicken at 3.99% for a $629k loan with 5% down. I've applied for a refinance about two months ago and got a great deal from Loan Depot(waived fees and 2.99% with no points). Upon hearing the offer from Loan Depot, my current lender(quicken) has agreed to match it - 2.99% with no points and $1600 lender credit towards closing costs to cover application fees. I choose to stay with quicken as I'm already with them and hence the lesser work from my end. Two+ months out and finally I hear from them saying the closing is approaching. In this final disclosure I received, they skipped the lender credit of $1600 and when asked I was told they can't offer that rn and that I have two options proceed without the $1600 credit or drop off the application. Is this normal in mortgage processes for a lender to back off on credit they said they'd give earlier? What's funny is that last year when I was getting my main mortgage with quicken, the exact same thing has happened. The guy said they'll give a $500 credit to cover some of the fees but bailed out at the last minute saying well this is what we can do and you can't bail out either as you're closing date is approaching(he was right as my offer had a closing date and that was approaching) PS: this is a conforming high balance loan. I'm not worried about the pennies when looking at the larger picture but just wanted to know if this is normal for lenders to play around like this in the last minute. Edit1: I've started the process about 3months ago and was told the closing date would be at the end of that month. From then on, they kept pushing it further and further due to some backend processing(this is what they told over the phone; lol) and each time that happened they sent a new loan disclosure to sign. So now after months of starting the process, they say they can't give the lender credit anymore as they already spent about $27k on their end in discounts points on my application as the dates kept slipping(crap reasons). When the delay was on their end, they expect me to take a hit because of that?!! These lenders!! 😅 [link] [comments]  |
| Jumbo loan with less than 20% down? Posted: 26 Sep 2020 10:33 AM PDT Is it possible to get a jumbo loan with less than 20% down? Im in California. Second question, ive always heard people say to put as much down as possible, would it be considered a poor financial decision to put less than 20% down? Are there any scenarios where putting less than 20% down is a smart move? For example, if I use the money that im not putting down into another investment vehicle [link] [comments]  |
| Posted: 26 Sep 2020 12:40 PM PDT Reposting to keep getting new perspectives as I've adjusted a few things. I have about 15k in savings bonds continuing to mature at about 2.5%. They are mature, but will still grow for a couple more years. I have about 45k in federal student loans with a normal rate of about 7.7%. I have another 20k in federal loans in my name at a less than 2% rate, so I've been ignoring those to tackle the 7.7% loans. I live at home with little expenses. As of now, I'm going to cash out the bonds and apply them as a lump payment right before the federal loan 0% rate expires in December. Gross Income - 3.4k a month before taxes I have 4k in checking and about 7k in savings Expenses / Dispersement
I'll be going back to school on my company's dime for an MBA next year. Should I hold back on savings / my Roth and dump more into my loans? Is $500 a month to savings too much since I live securely at home? Should I be investing less and putting more towards my loans? How am I doing for being 23? I've been working for about 6 months, so I'm just getting started. I'm waiting on contributing to my 401K until my company match kicks in. I hope to max that when it does. I know the car expenses seem high, but I count it as a necessity as well as an entertainment expense. I'm into cars, so it keeps me sane. Girlfriend and I are saving for a house in a few years. Once I'm ready to buy the house, I'm going to sell the car to help. It has positive equity since I saved and put a lot of money down. That'll be in 2-3 years. She is making payments on her loans aggressively. She makes about 60k a year. Combined in 2-3 years we should be around 120k a year in a low col area. I feel like I'm not doing great, but I've never really had a budget like this before. Please let me know. Thanks! [link] [comments]  |
| Parent's health is declining fast, need help with next steps Posted: 26 Sep 2020 02:35 PM PDT Hello /r/personalfinance. I'm (26) effectively beginning the caretaking process for my dad (57), who has a back/leg injury that's gotten so bad he's having trouble just getting through the day. There are a lot of factors at play here and I'm overwhelmed, so any advice would be appreciated. My dad's back and leg problems are getting exponentially worse by the day. He was going to be getting steroid shots to help the pain, but his bill for one shot without anesthesia is $2800 after insurance, and the shot only helped him for a month. He works a pretty physically demanding job, but he doesn't have enough in savings for him to quit right now, and his company is small enough that I don't think they qualify for FMLA. His background is mostly auto mechanics, so even a new job in the field would probably still be labor intensive and therefore not ideal. And he's a lifelong pot head, so he'd be jobless for at least a month if they drug tested him (we live in a legal state, but I know a lot of companies still test for it). Yes, I'm trying to get him to quit. He's also a type 2 diabetic and already has neuropathy in his feet and mildly in his hands. Right now I'm working on getting him applied for disability, but I know that's a lengthy process. I know he has some retirement savings, and I think he'll get a spousal social security benefit since my mom worked before she passed. He lives in a quad-level house with no handrails, so one of the worst kinds of houses for his injury. He lives with his girlfriend, who I just found out tested positive for lupus and is not in the best shape herself. My question for you all is, where do I go from here? My husband and I live in an apartment, so my dad can't move in with us. He's resistant to discussing the thought of my husband and I moving in with him so we can split bills/I can keep an eye on him. I make $65K pre-tax and my husband works part time while he's in school, so we can't completely support my dad financially. I have one sibling who won't be able to help, and my dad's girlfriend's kids I don't think will be able to help her situation, so I kind of feel on the hook for both my dad and his girlfriend. Right now my immediate plans are to get a handle on their finances, and to go with my dad to his next doctor's appointment to see where we can go from here health-wise. Is there anything else I can be doing? Any programs I can look in to? [link] [comments]  |
| Ever just feel like blowing money ? Posted: 26 Sep 2020 11:12 AM PDT I've been feeling really tempted the last 5-6 months to just blow some money on something fun and for me. We are in Ramsey's BS6. We put 30% into retirement and make around $115k annually. I have about 2500 in a slush fund from eBay flipping I'm doing and was wanting to buy a nice new fishin rod or something in the 3-500 range with it, and save the rest for a vacation or some home improvements. What do you do to handle these feelings? Ignore it? I feel like it's stemming from boredom and just looking for things to buy on eBay lol. And to clarify this would not be touching any of our emergency fund. 250k ish net worth and we are 34 years old. [link] [comments]  |
| Any help for those of us stuck in flight credit purgatory Posted: 26 Sep 2020 11:50 AM PDT As with many other people, I had to cancel a flight to Maui in May due to the state of Hawaii's mandatory lockdown. I booked the flight and hotel (condo) through Travelocity. [link] [comments]  |
| Is it better to pay down student loans or best to do PSLF and contribute to retirement, HSA, etc? Posted: 26 Sep 2020 10:29 AM PDT I have about 450k in debt from total schooling (medicine). I will probably make ~225-250 out of fellowship in 2022 and I keep seeing "resident pays down 300+k in 3 years!!", but only to find out that they had a spouse help, had a very high paying job like cardiology, or had a relatively lower amount of debt like 200-250k. In my case I think that since I have 5 years left until PSLF kicks in, I could dump 19.5k into a 403(b), 6000 into a Roth IRA, 7200 into the HSA yearly, and STILL invest in broad index ETFs, preferred stocks, etc. To me that makes so much more sense to maximize retirement stuff now since there is only 5 years left on the forgiveness (which will forgive about 270,000 off the federal loans). I think that is a no-brainer and well worth the risk of maybe not having PSLF around anymore. I just know the mantra is pay loans down aggressively, but I think this would make more long term sense. Thoughts? Thank you! [link] [comments]  |
| Can I save money by not buying a car but rather relying on Uber for transportation? Posted: 26 Sep 2020 03:43 PM PDT Relying on Uber will save me money both on gas and a monthly car payment but do you really think it's a worthwhile financial move? [link] [comments]  |
| I want to move to a nicer house but don't want to repeat the mistakes my parents made... Posted: 26 Sep 2020 08:30 PM PDT I own a small house and I'm $50k away from paying it off. I always hear how accumulating rental properties is a good way to grow your money so I'm considering keeping it as my first rental when I move. If I do it now, I'll only be able to put 10% down on the new house. I've been told you never want to put down less than 20% though. The thing is, property values in my town are rising so rapidly, I don't think I'll be able to afford a nicer house here soon. I know my parents would tell me to sell my current house for the new one but they'll never retire and always have money problems. Especially with houses and cars. They never had any rental properties, never paid anything off, but always had pretty things. I know I want a pretty thing with the nicer house but I'm thinking keeping my current house as a rental would make it work. Does anyone have experience with this? Is it worth only putting 10% down to take advantage of low interest rates and rising home values? [link] [comments]  |
| Am I doing the right thing with my whole life insurance plan ? Posted: 26 Sep 2020 04:40 PM PDT I am 33 years old . 4 years ago I was advised by a close family member to enroll in a whole life insurance plan . This person had enrolled in it when he was 45 years old and it worked great for him . He wanted me to enroll at an earlier age so that the premium will be lesser. So I enrolled at Guardian Insurance . My policy came out to $1080 per month for a 1.5 million dollar policy. I have been paying for almost 4 years now ( works out to approx $51k). My understanding is that I pay maybe for 10 years ($130k) and the principal will then generate enough interest to pay for my monthly premiums . Also I will have my principal intact and can take loans out of it if needed . My questions 1) is my understanding of how whole Life insurance works , correct ? 2) I was checking my loanable balance the other day and the agent told me the current loanable amount was $300😟😟😟. I am guessing I have no other choice but to pay through till the appropriate principal has been reached . Is this correct ? Is there anything else I need to be mindful about ? Can't help but feel sometimes that I am throwing away money and it was a foolish decision to enroll . Thanks in advance for the advice ! [link] [comments]  |
| Received unsolicited US Bank “Focus” debut card. Posted: 26 Sep 2020 04:00 PM PDT So I randomly received mail from the US Bank. It came directly from Indianapolis, IN. I did not ask for one or sign up for one. I don't even have a US Bank account. It is a visa debit card (idk if I'm saying that right, but that's what it's labeled with). I am aware that sometimes employers do use this as a payment method. Does anybody have any advice? I would very much appreciate it. Edit: I've been told this may also be an indicator of identity theft, so any advice on that would be helpful as well. [link] [comments]  |
| Posted: 26 Sep 2020 03:55 PM PDT When I google a brokerage I'm interested in, I feel like I'm aimlessly scrolling around aimlessly, not knowing what to look for. [link] [comments]  |
| Husband passed 5 years ago. Is it too late to try to get his social security pay? Posted: 26 Sep 2020 01:34 PM PDT I just now learned this was something i was supposed to do. I looked up some info and it says you have to apply within 2 years of the death. Am completely shut out of applying? (USA laws) Edit for answers: Thanks everyone! I now have a vague memory of looking into this in the fog of grief. He was 34 when he died. I am 39 presently. We were only married for 3 yrs. So, yeah that's a long wait for 50% and i'm fairly certain don't qualify since we weren't married for 10 years. Thanks again everyone! It's been on my mind lately and thought i messed up. [link] [comments]  |
| Posted: 26 Sep 2020 07:25 PM PDT I'm about to come into possession of a large sum of money - over six figures. I am not sure what to do with it. I have 75% of that in debt due to mostly to student loans and some CC. If I pay everything off I'll still have roughly $45k remaining. Should I pay off everything, or put a comfortable dent into student loans and pay off all CC? Then how much should be invested and how much as a safety blanket? [link] [comments]  |
| What do I change on the 2020 W-4 so that I have exactly $300 less withheld from my monthly paycheck? Posted: 26 Sep 2020 07:00 PM PDT I tried using the IRS withholding calculator, but I got a large bonus with my first paycheck that messes up the calculations for the rest of the year. My current monthly federal income tax withholding is right around $300, and I've already paid more in taxes than my tax oblligation will be. What do I change to have $0 withheld going forward (more generally, what do I change to have $X less withheld)? I believe I can accomplish this through either line 3 or 4(b), but I'm not sure what to put. Would it just be 300*12 = $4000 on 3 to increase the tax credit I get? How would the calculation for 4(b) work? [link] [comments]  |
| Roth/Traditional IRA/401ks - 22yr old that has no idea what to do Posted: 26 Sep 2020 10:04 AM PDT I have read the sidebar and all things retirement saving in the wiki. But despite reading through all the information, I'm still having trouble understanding what options will help maximize my retirement savings. I'm a 22yr making 115k/yr not including performance bonuses and stocks from my employer. For performance bonuses, I can receive up to 10% of my salary. For stocks, I receive 100k in RSUs that vest 25k per year. My current plan is to max out my IRA and contribute 10% towards the 401k*. If I can secure a new place with significantly lower rent, I plan to max out both my IRA and 401k. *my employer matches 100% up to 4% of my base salary. I'm actually unsure if I'll retire in a higher income bracket. As it currently is, I'm aware that my career field tends to plateau around ~200~400k. But this is assuming I'll continue to live in high cost of living cities. Which is where my roth vs traditional dilemma comes in. I'm stumped. Based on the information provided, can someone help me figure out what the best next steps are? [link] [comments]  |
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