Personal Finance To those of you stuck on car leases that want or need an out, you may be in luck. Here’s how I did it. |
- To those of you stuck on car leases that want or need an out, you may be in luck. Here’s how I did it.
- Need advice: Parents want to use my credit to lease a car?
- Unfreezing credit for a job application or keeping it frozen because my info was leaked?
- Need advice: I think my friends Dad is being scammed or being tricked into money laundering.
- How to find out if old stock from 1970s is worth anything.
- Becoming a super commuter
- planning in case of death
- Thinking of living with just one car
- Is it a bad idea to chose a family member to be my fiduciary?
- Inheritance. Consolidate IRAs? Best company?
- Is there such a thing as a student loan scholarship?
- Paying off a car in an awkward situation.
- How much approximately would it cost to have a dog as a single person?
- Question about tuition reimbursement with 529
- Recently kicked out at 20yr with $600
- Water bill in new apartment way higher due to running toilet I warned about on move-in. How to proceed?
- Credit score at 18
- Paying mom's taxes
- Remote desktop hacker sent money via paypal f&f.
- just out of college - what to do with paycheck money?
- Questions on reporting misc income on unemployment
- I want to make at least 10k but my dad is concerned about rent price increase
- Should I put the money I’m saving for a new (used) car towards a payment and just get the vehicle now?
- Is there a way to invest relatively small amounts of money easily?
- How would i setup my will to leave half to my son?
| Posted: 05 Sep 2020 11:30 AM PDT A little back-story: Both my wife and I drive 2018 Jeep Compass'. Both leased. Hers is $321 a month with 11 payments left and mine is $272 with 10 payments left. She hasn't been working since last October as she gave birth in November and went straight from Maternity Leave into "COVID leave." I just recently lost my job, so the obvious choice was to get rid of at least one vehicle, even if we had to pay down the potential negative equity. So, I started looking at my options, and it turns out the user car market is so hot right now, I was able to get out of my lease with about $1000 in POSITIVE equity by selling to Carvana. Now granted, my car has the mileage of a one year old car and is basically in mint condition, but the point here is that Carvana is seemingly willing to pay a premium for used vehicles due to the current demand, because a lease with positive equity is virtually unheard of. Part of what makes this possible is that Carvana uses the DEALER Lease Payoff quote as the amount that you owe, rather than the customer payoff. I was surprised by this, as they could easily pocket the difference (and I wouldn't even mind, would end up with only about $200 of negative equity). I don't have time to share all my numbers but I wanted to post this in case someone hadn't considered selling their lease to Carvana. It may be a good idea to look into this even if you haven't thought about or have the need to get out of your lease. You may be pleasantly surprised. [link] [comments]  |
| Need advice: Parents want to use my credit to lease a car? Posted: 05 Sep 2020 10:29 AM PDT Hi everyone, I (21) am looking to get advice and see if there are any potential downsides or things for me to be aware of in my situation, since I'm relatively inexperienced with this kind of thing. My parents are currently looking to lease a car, and unfortunately their credit scores are not good, so they are asking if they can use my credit/have me as the signer and them as a co-signer, since they say the interest rates will be lower. They said they'd get 8-10%, but with my credit, they could probably get a 2-3% rate, and as a student could possibly get a discount. I have really only paid for groceries and gas with credit, and I always pay it immediately, so my credit is fine They should be able to make consistent payments on the car. I'm just not sure if this could potentially have any repercussions on me, or if there's anything I should be aware of if I were to sign? Edit: Thank you everyone that posted! After hearing literally everyone say not to do it, I will definitely NOT be signing for them and it almost seems silly that I even considered it! You guys are all awesome for your advice! [link] [comments]  |
| Unfreezing credit for a job application or keeping it frozen because my info was leaked? Posted: 05 Sep 2020 12:20 PM PDT Ok so I'm in an unlucky situation right now. I was laid off from my job last week and a couple days later, my personal information was leaked (name, DOB, SSN). I've made a police report, told my bank, checked my credit and promptly froze it through the big 3 (Equifax, transunion, and Experian) as well as chexsystems Thankfully nothing has been opened in my name but I'm still unemployed and need a job. I've been applying to different positions but fedex in particular says that they check my credit when reviewing my application without saying which agency they use. I really want to keep my credit secure but I'm not sure when or if FedEx or some other company will look at my credit. I'm skeptical of the idea that they will take the time to notify me of a background check rather than just throwing rejecting it I've seen people say that they unfroze their credit for a month for background checks (mostly when talking about security clearances). Also saying that the employer will come to you and say that you need to unfreeze your credit. But like I said, I'm applying to low level jobs and I'm not sure if they would want to extend the effort. I dont want my application to be thrown out but I also dont want to find a bunch of credit cards opened up in my name Anybody else go through this before? I got the 1 year of fraud monitoring through Equifax, but I was not sure if that would be enough [link] [comments]  |
| Need advice: I think my friends Dad is being scammed or being tricked into money laundering. Posted: 05 Sep 2020 06:08 PM PDT So my friends dad (fake name for security reasons: Kevin) is jobless currently. He has a friend that runs a chemical company (we will call him Johnny) Johnny is supposedly a multimillionaire and they have known each other for a long time. ( side note I googled Johnnys house and it's worth (200k- doesn't seem like a millionaire to me) Johnny is telling Kevin that he has 6 million dollars for him- and Kevin's job is to recruit business to buy Johnnys stock of medical gloves, Kevin has agreed. Kevin has signed a forum saying he will pay the taxes on the 6 million dollars. I have never heard of someone paying taxes on money before they have received it. secondly, now Kevin is being asked by Johnny to create a business (in my head this sounds like concealing the origins of money aka laundering) because he was already promised 6 dollars before generating this money at all. TLDR: rich guy asks down on his luck guy to provide value equaling 6 million dollars, down on his luck guy has not been to college, has zero business no how, and thinks he just got really lucky for knowing the right guy [link] [comments]  |
| How to find out if old stock from 1970s is worth anything. Posted: 05 Sep 2020 09:30 AM PDT I recently found a National Energy Corporation certificate and I can't seem to find any information about it online. It states John Bugel and William P. Weiss Jr., were secretary and president, respectively. It states it was incorporated under the laws of the state of Nevada 1970 and its for 100 shares. I'm not sure if the company exists anymore or if it was bought off. It's countersigned and registered. Would this piece of paper even be worth anything? Is there somewhere I can go online to ask about this? [link] [comments]  |
| Posted: 05 Sep 2020 01:11 PM PDT I've decided to take a huge leap and accept a job in the Bay Area. I'm living in Portland and own a home and will fly to and from work for the work week. My wife is staying in Portland as she's a teacher. Plan is to rent an apartment near my job and and drive my car down. Money will be tighter but we are fine with the cost of $12k in commuter flights and $15k in apt rental cost. We're reducing our pre tax deferments to cover some of the costs but are still putting in $12k into Roth and $21k into 401s combined. Any tips here; especially in reducing tax burden? We have an emergency fund funded. I know this is a crazy plan but the upside, career-wise, is a no brainer. EDIT: job is salary and I'll be an employee. [link] [comments]  |
| Posted: 05 Sep 2020 02:41 PM PDT over the few years i have lurked in PF across a couple different accounts and have seen people prepare some kind of binder or folder in case of death that had details on things like insurance or bank accounts or 401Ks. i recently wanted to start something like that myself in case i were to die suddenly so that it made things easier for my family to go through and close down accounts and get benefits like my life insurance. so far the document includes a list of already existing bank and credit card accounts that will need to be closed, info on my HSA and 401K, and my life insurance. I was wondering if i was missing out on anything obvious that i would want to include, or if there are any other special documents that i would want to keep close to this one to simplify things in case of some unexpected death? [link] [comments]  |
| Thinking of living with just one car Posted: 05 Sep 2020 10:13 AM PDT Since the pandemic started our two cars have been sitting in the garage. We have a monthly payment on both. My husband and I work primarily from home and we have two kids that will start school virtually. So we're thinking we don't really need the second car since we're mostly stuck at home. Anyone live with just one car? What are the pros and cons? We estimate it would save about $400 a month between the monthly payment, insurance and car taxes. Edit to add: I appreciate everyone's input! I've been working from home for years. My husband may or may not return to the office, all depends on the pandemic and what the company decides. We will try using just one car for the next few weeks and see how it goes. Also my kids school is just down the block, so if we were to ever return they could easily walk. We have our groceries delivered so don't have a need to go to the store. [link] [comments]  |
| Is it a bad idea to chose a family member to be my fiduciary? Posted: 05 Sep 2020 02:03 PM PDT My dad passed away in July and my siblings and I found he had an IRA we were named beneficiaries so we will be converting them into three inheritable iras for each of my siblings and myself.. the firm he chose charges 1.25% fee. My dads brother is a fiduciary and said this fee was ridiculous. I am wondering if it is a bad idea to hire my uncle to manage my siblings and I's account. Is this a bad idea? I'm the oldest and i'm in my early 20s, my brother is 19 and my sister is 15. What should i be looking for/thinking about in regards to hiring a fiduciary? Is it a poor life decision to hire a family member? [link] [comments]  |
| Inheritance. Consolidate IRAs? Best company? Posted: 05 Sep 2020 01:56 PM PDT My husband has inherited a number of accounts from his parents last year including a:
Our 401Ks are in Fidelity We got as far as setting up stretch distributions (pre secure act) and per the care act we have been able to delay even that, so it has not impacted our financial picture that much yet. I am getting geared up to set us up with grown up credit cards with my eye on that Bank of America Premium Rewards / Cashback Rewards boosted by the Platinum Honors tier for 2.65% Cashback in general and 5.25% cashback on let's say Dining for now... so we are thinking of plunking 100K in inherited IRA at Merrill Edge so he can qualify for that tier with those cards and we can start using those for our primary expenditures. From reading the forums it does not seem like Merrill Edge is the best location for the bulk of your investment portfolio but an ok choice for the plan I detailed above. So where should the rest of the capital in these inherited IRAs go to live out their happy lives providing us stretched distributions? Should they mostly go to one location and be consolidated? Is one company any better than the other for the purposes of IRAs? We are pretty novice when it comes to investments. EDIT: per SIPC Insurance is it not recommended to have more than $500,000 with a brokerage? https://www.nerdwallet.com/blog/investing/sipc-insurance-what-it-does-and-does-not-protect/ [link] [comments]  |
| Is there such a thing as a student loan scholarship? Posted: 05 Sep 2020 07:36 PM PDT I have a feeling I already know the answer but you don't know if you don't ask. Are there ways to get money to pay off student loans similar to how you can receive scholarships to attend school on the first place? I'm not military or a nurse or anything. I'm not able to work for americorps or the peace corps. [link] [comments]  |
| Paying off a car in an awkward situation. Posted: 05 Sep 2020 02:05 PM PDT So this is a bit of an involved story. Years ago I stupidly co-signed on a car for a girl I was dating. I was young and dumb, and it was a mistake. We broke up a couple of years later and shortly after she relinquished the keys and the car to me and I began making all the payments. The car is just about paid off and I would like to get the car in my name completely. How do I do that? I think the title will be in her name, but I've been making payments on it so how do I get it in my name. If it matters she wants nothing to do with the car and would sign it over to me if need be, but I would really just rather not see her if possible. tl;dr I cosigned on a car, made payments, and want the car in my name only. How do I do that? Edit: I am in the United States in the state of GA. [link] [comments]  |
| How much approximately would it cost to have a dog as a single person? Posted: 05 Sep 2020 02:02 PM PDT 23m, I make about 90k gross and take home about 55k/yr after taxes/benefits/401k contributions. I think I add about 2500/month to my total liquid savings at the moment (after rent, food, entertainment, etc.) I really want to get a medium-sized dog but I cannot allow myself to get a dog and just have it at home by itself while I work. I work 10 hours a day, 4 days a week. Does anyone have experience with paying for dog walkers/doggy day care at a high frequency? How much does something like this cost? What kind of an impact would doing this have on me financially long term? [link] [comments]  |
| Question about tuition reimbursement with 529 Posted: 05 Sep 2020 06:10 PM PDT I am thinking of starting a 529 for my child, and my spouse is a teacher. If our child decides to go to a state school, their tuition would be reimbursed as a perk of my spouses employment. Does this mean that I could:
[link] [comments]  |
| Recently kicked out at 20yr with $600 Posted: 05 Sep 2020 06:55 AM PDT I was kicked out of my home today with nowhere to go and I only have 600 in my bank account. I have no job, I'm in a location where I have no friends to potentially crash with, have no car and no job. I'm looking for advise on how to spend the money I have and what my first steps should be. I do have a 24 hour gym nearby i could join but it costs ~150 for the first month so I'm kind of skeptical if thats the best idea. Any ideas are appreciated. Thanks. Edit: I also have neither a diploma or GED so I'd say the odds are stacked against me atm. [link] [comments]  |
| Posted: 04 Sep 2020 08:40 PM PDT Hi all, I moved cross country to San Diego, CA a couple week ago. I just received my first utility bill - and my water usage is thru the roof. Comparing gallon-per-gallon with my last water bill across the country, astronomically higher. I warned about an issue with my toilet 3 days after moving in, in an email to the manager of the building. About 4 days later, they had a plumber come by who mentioned he didn't feel like he heard the water running, but he had to replace the whole toilet. Here I am weeks later, being told the toilet is on the way and delayed due to COVID (???). How do I proceed? Do I need to pay the water bill, since it's kind of their fault they never fixed the toilet and it's clearly not the use of a single man in a studio apartment? How do I communicate this to my apartment in such a way I can't get stabbed in the back on a technicality? E: Called up the landlord, told him about the bill and they said they'd take care of my water bill until the new toilet is in. [link] [comments]  |
| Posted: 05 Sep 2020 06:29 PM PDT Hi , I turned 18 about 8 months ago and I personally haven't bought anything on credit or have any credit cards or loans, I've only opened 1 bank account since I turned 18. However my credit score is at 384. I was wondering if this is common for someone my age, or if people had used my social security # in the past that would cause it to get this low. Thank you ! [link] [comments]  |
| Posted: 05 Sep 2020 06:22 PM PDT My mom passed away on August 10. Today I logged on to the IRS web site as her, and attempted to direct-pay her September 15 estimated tax payment as usual (I have been paying her bills out of her account because of dementia), but I got the error "Your identity could not be verified...". Maybe the IRS was notified of her death by Social Security, that's just my guess. Anyway, I can't use the website to pay the estimated tax by September 15, because I think the process to become her representative will take more than 10 days. It looks like I would need to mail in form 2848 and wait for a confirmation from IRS. I think I will need to do that in order to file the tax returns by April 15. For the September 15 estimated payment though, I wonder if I should just date it before her death and fake her signature. Your thoughts please. [link] [comments]  |
| Remote desktop hacker sent money via paypal f&f. Posted: 05 Sep 2020 01:41 PM PDT I posted at r/paypal but it didn't get much attention, so I'm trying my luck here. My computer was remotely hacked and was used to send money via paypal friend and family. I found it out within 30 minutes it happened, and reported to paypal asap (i was home exercising). The hacker also deleted several emails from paypal as well as opening several other meaningless disputes with paypal using older transactions (which i cancelled right away). I saw a mouse pointer moving for a sec as well but nothing after. I ran several anti malware / anti rootkit programs but couldnt find anything malicious. So i ended up formatting the hard drive. My initial dispute was denied right away and my appeal was denied this morning. I put a stop payment with the bank, but paypal used my backup payment method to charge me anyways. So i contacted chase and filed for a fradulent activity this morning. Right now, i'm fearing for the worst - that i'll be held responsible for the money sent to the hacker. From what i've read, paypal would give me negative balance and eventually send my account to a collection for balance owed (though it was a fraudulent activity and i reported it asap). What would be my option then? My credit score is around 800 but i havent had a solid job for a few years due to personal issues. [link] [comments]  |
| just out of college - what to do with paycheck money? Posted: 05 Sep 2020 08:03 PM PDT Hello, I just graduated college, and I am now working full-time. My biweekly income is around ~$1300, and I am working for one year before I enter medical school. After paying for rent, and living expenses, I have around $1200 left to invest in whatever I want. I had subsidized loans in my undergraduate education so I can pay those off slowly. What is the best way to save or invest these leftover dollars in? Should I just store them into a savings account or invest in stocks? Any advice would be appreciated. [link] [comments]  |
| Questions on reporting misc income on unemployment Posted: 05 Sep 2020 07:38 PM PDT Hello! So during the pandemic I lost my job and have been on unemployment. I tried out camming to see if it was anything I would be interested in doing - yeah no. Too many creeps. However, I made $220 the night I was on. My question is how do I report this with my biweekly payout without them saying "fuck you" and ending my benefits? Do I have to report it? Cheers! [link] [comments]  |
| I want to make at least 10k but my dad is concerned about rent price increase Posted: 05 Sep 2020 07:35 PM PDT So I am planning to move out on my own in a year's time or a bit more but I want to make at least 10k before moving out in August-September of 2021 at the least. I'm in New Jersey. However, my dad is concerned that our current rent will get hiked since I'm a dependent and he's the only one with an income and I will certainly lose my dependent status if I make any income. I feel that my hands are tied to my back and unsure of what to do. I need the finances anyway as it sucks being unemployed and not having any savings for myself save for one grand. I figured that since I will be moving out by the next rent contract in August-September it won't matter what I'll make since my dad will be the only household member then and I won't add my name to the new contract. Should I still go ahead and earn my income despite losing my dependent status next year and the possible rent increase? [link] [comments]  |
| Posted: 05 Sep 2020 05:10 PM PDT Prelude: I make $58k/year and my only debt is my mortgage ($120k), student loans ($30k), and my kids go to private school ($14.4k/year). I have a 3 month emergency fund and currently have $4k saved towards a new used car and $500/month being added to it. I currently drive a 2009 G6 with 200k miles. The engine turns on, the transmission shifts, the AC/heat and radio works. However, the ABS, traction control, and rear brakes don't work. The shocks, struts, and wheels are shot so it's a super rough ride and it stinks (literally). And I also have a blown head gasket. But, again, the car turns on and takes me where I need to go. I work from home and there's no date in sight for when I might go to the office. I've been on the same tank of gas since I got sent home in March for COVID. However, I'm now dropping my kids off and picking them up from school everyday, which is 10 minutes there and 10 minutes back, and winter is coming (which means snow here). I'm fine continuing to drive my POS G6 but my wife is really pushing me to just purchase the car I want now (lightly used Honda Civic) and take the money we're saving for a car and use it as the car payment. I hate debt. I hate it. I've been in debt all throughout my 20's and early 30's and I just clawed my way out with the exception of my student loans. I don't like the idea of having a car payment, but the money I'm using towards saving for a car would be close to the same thing and I wouldn't use the whole $500 for a payment. I'd still banking some money. My current car also isn't the safest but I'm willing to risk it while I save since my driving is so light. I'm really conflicted and hoping I could get advice from you wonderful people. What would you people do? [link] [comments]  |
| Is there a way to invest relatively small amounts of money easily? Posted: 05 Sep 2020 06:32 PM PDT Hello! I am a college student without significant expenses with around $1000 saved up, is there a relatively easy way to invest some of it in a way where I would have an almost guaranteed gain and be able to easily withdraw the money? It's mostly in a savings account right now, but I'm not sure if that's a particularly great way to invest the money as far as ROI is concerned. If this doesn't fit the sub or is a commonly asked question, let me know and I'll remove this post. [link] [comments]  |
| How would i setup my will to leave half to my son? Posted: 05 Sep 2020 12:21 PM PDT So im not sure how exactly to do it but i just want a general idea. I basically want to set up some sort of will that leaves all to my son in case me and my wife die at the same time, But in case one parent is alive i want my son and the surviving parent to each have half of he entire estate. atm me and my wife are equal owners. would a will suffice or do we need to do something else? [link] [comments]  |
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