Personal Finance BF just sent 500$ back to someone on Venmo who "accidentally" sent it to him. Was he scammed? What should he do through his bank and through Venmo? (US) |
- BF just sent 500$ back to someone on Venmo who "accidentally" sent it to him. Was he scammed? What should he do through his bank and through Venmo? (US)
- Bank scam that almost wiped out my accounts
- Can anyone help me understand the numbers of buy vs rent?
- Options for 50+ year old with low income and low credit to find affordable housing
- $51k SBA loan fraudulently taken out in my name; Good times.
- Some Beam Financial customers struggling to get their money back
- How Can I Improve My Financial Situation - Tips/Advice Needed
- Should I transfer my settlement payments so I can invest them now?
- Roth IRA - Vanguard Mutual Fund
- Boyfriend just bought a used car 2 weeks ago, now the dealership is contacting him saying his car payments need to be adjusted to $100 more a month.
- I owe $10,000 in 2 months because I’m an idiot that didn’t understand 1099 taxes. My furnace just broke, and I don’t know what to do.
- Where does a beginner start? No seriously, a BEGINNER-beginner.
- Is there a correct time to switch index funds?
- How much should I save before moving out for the first time? Am I putting to much into retirement?
- Roommate caused eviction. How to handle debt collector?
- When to follow up after a job offer salary negotiation?
- Invest in Roth IRA or pay off car loan?
- Deceased dad, do we need probate
- College freshman, what should I do with my savings for the future?
- Buying a car off lease, negotiation success?
- Electric Bill won’t go down.
- Deciding whether or not to take employer’s tuition reimbursement
- 25k annual salary. Buying a house will have a mortgage cheaper than what I currently rent. Not sure what to do
- Are both of my health plans eligible for an HSA?
| Posted: 28 Oct 2020 12:38 PM PDT My boyfriend had 500$ sent to him on venmo by a stranger "on accident" last night. Being the well meaning good person he is, he sent it right back. He had 0$ in the Venmo account but has one or two bank cards linked to the Venmo account. The person is asking him to send the payment again. I told him the whole situation sounded like a scam I had heard of, the fake payment scam, and that he should contact Venmo and his bank immediately. I don't really know what to do to help him and we're all on hard times because of COVID 19. If you have advice we would super appreciate it. I hope this is on the right subreddit. Thanks for reading. Edit: Thank you for all of the helpful responses and for the two awards! You're very kind. I think we're in the clear if it was a scammer and not some random pheasant messing up sending rent to someone. We did the following:
We will try calling Venmo shortly. [link] [comments]  |
| Bank scam that almost wiped out my accounts Posted: 28 Oct 2020 05:02 PM PDT Today I effed up by almost falling for a scam. It started relatively normal, a number representing my bank's fraud department called and inquired about a potential fraud charge across the country from me, this is not abnormal for my bank as they have contacted me prior in instances of fraud and locked the account. The person in question sent a text message alert similar to what my bank does: "Bank of xxxx has detected abnormal activity on your account. If you did not initiate x transaction reply with NO to freeze your account." Immediately after replying, the 800 number associated with my bank called and a "rep" talked me through "security steps" that began innocent: "confirm the on-file email, confirm the on-file username", but it got a lot more red-flag apparent when they started asking me to provide confirmation numbers that were sent to my phone via text message. The first one seemed okay, but then they informed me they would be "setting up zelle protection" and needed a new confirmation number. When I got the text, there were big bold letters stating "WE WILL NEVER ASK YOU FOR THIS CONFIRMATION NUMBER. IF ANYONE ASKS FOR IT AND YOU DID NOT CONTACT US, HANG UP AND CALL THE FRAUD DEPARTMENT IMMEDIATELY." Needless to say alarm bells started ringing, I told the "rep" I was not comfortable with this phone call and to be safe, I was going to contact the bank myself. He kept trying to assure me he was a bank rep and that he was "calling from the number on my card, just check it". After a moment of back and forth, my intuition won and I hung up on him and immediately called my bank. Several things had happened: 1. There were no original fraud charges the "rep" claimed had existed, 2. He had gained access to my online account and was trying to empty my account via Zelle and needed approval (thank goodness), and 3. His activity would have flown under the radar had I not called and inquired. My account is considered compromised and the bank has frozen ALL funds and cards associated with the account. I have to wait for the morning to go into a branch to sign an affidavit and open a new account to roll my current finances into it. Lesson learned the hard way, NEVER trust a call that you did not place, even if everything looks and sounds right. If your gut says "something isn't right" it probably isn't. No banking rep is going to get mad if they start helping you and you suddenly don't trust them, their job is to protect you as an asset and they will understand if you hang up and initiate a call on your own. TL;DR: someone pretended to be a banking rep for my banks fraud department. Called from a bank number and did everything as a "normal" rep would until they started asking for confirmation numbers my bank, luckily, sends with a warning message never to give out. [link] [comments]  |
| Can anyone help me understand the numbers of buy vs rent? Posted: 28 Oct 2020 06:08 AM PDT Edit 2: Thanks everyone for your advice! I think I'm all good on the advice for now. I learned it's a lot more complicated than I first thought it was. Edit: someone commented the NY times link which is perfect! Thanks everyone I'm having a hard time understanding this because I have never bought a home before. As I am looking for a new apartment my sister is urging me to buy a home because it's the smarter option financially, but whatever home I buy now will definitely not be my "forever home". So with that in mind (that I would probably sell and upgrade homes in the next 3-5 years), could someone help me with the actual $ numbers so it's easier for me to understand and make a decision? If I rented for 3 years...
If I bought a home and sell after 3 years...
I basically am trying to visualize the difference between spending 3 years of rent or buying and selling a home after three years. NOTE: I don't know if I will actually sell a house after 3 years. If that seems totally illogical then you can do all the math assuming 5 years. Thank you :) [link] [comments]  |
| Options for 50+ year old with low income and low credit to find affordable housing Posted: 28 Oct 2020 07:06 PM PDT I am college student looking to help my mom move into safe and affordable permeant housing in a very rural area. She is a housekeeper and makes less than 20k a year with a credit score of less than 600. This has made getting a modular home or making payments towards a permanent house difficult. She has been working to raise her credit, but it has been a very slow process. I am from a very rural area, so there aren't a lot of options close to her job. My sister and I are technically still her dependents, but we are both over 18 and financially independent. Her current house is only a few years from being unlivable, so I am just trying to find any resources I can to help. Also fyi we live in North Carolina. [link] [comments]  |
| $51k SBA loan fraudulently taken out in my name; Good times. Posted: 28 Oct 2020 10:34 AM PDT So, yesterday, I had the singular pleasure of getting a letter from the Small Business Administration saying that I have a balance due on my Economic Injury Disaster Loan. By a strange turn of coincidence, this letter also was also my first notification that I had received an Economic Injury Disaster Loan. Nobody told my bank account, that's for damn sure. Clearly, someone is fucking me over. EDIT: To clarify, the first thing I did was call the SBA, and they confirmed that the loan is real and was disbursed to... someone. I did all the obvious things:
Anything else I should be doing? I've been wondering if I should file a report with the FBI or IRS. [link] [comments]  |
| Some Beam Financial customers struggling to get their money back Posted: 28 Oct 2020 07:26 AM PDT According to CNBC, some customers of Beam Financial that are attempting to withdraw their deposits face an indefinite wait for those funds. Beam offered very high interest rates for a savings account (4%), which led to both excitement and suspicions about the service. [link] [comments]  |
| How Can I Improve My Financial Situation - Tips/Advice Needed Posted: 28 Oct 2020 07:14 AM PDT Hi everyone, hope you're all doing well today! I'm writing this post today to get some tips/advices about my financial situation I guess. It's a bit embarrassing (I think) considering I don't really have a lot of money for my age (I would guess). I feel like I'm falling behind quite a bit for some reason. I know I have to be the one doing the work, but I guess I just need a little push in the "right" direction. Anyway, I'll start talking. First thing first. I'm canadian, so the currency is not the same as the US currency. I'm also 29 years old and graduated from music college which I think wasn't the wisest career path for me considering I do not work in the music industry. I guess my interest just fell off over years. Oh man... This is so weird getting into some numbers. Anyway. My biggest problem at the moment is my income. I know it and I'm looking to change that this year actually. Right now, I earn about 1500$ (1100 us dollars) a month. I have 16.5K saved in my bank accounts. To be honest, I only started saving more around my mid 20s. The good news is... I have no debts, do not own a house (not sur if good), got a car, live in a cheap apartment, spend less than I earn, do not need a lot of luxury things to be happy, single (I guess it's "good"... right?), etc. I also want to start learning about finances and money (that's why I'm here!), maybe learn a bit about investing in stock markets or whatever. I'm not there yet but it is an option that I am looking into. Maybe also having multiple passive income earnings. Not sur what those could be, but I'm thinking about it. So I guess my question is (are), how can I optimize my earnings at my age? What should I start focusing on? What kind of "goals" should I strive for now? I know there's multiple ways of doing it, but as a simple guy with no deep knowledge of finances/investments/money (name it)... What can I do to improve my financial situation (other than getting a better job)? What would you guys do in my situation? Would you be in a "panic mode" or more chill? Am I doing okay or terrible? What are the steps I need to take to make it better for my income? Anyway... There's a lot of things I want to change this year and I guess... That's why I here asking for advice on finances. Alright I'm out *cross fingers I don't get cruxified* :x . Have a good day! Thanks! [link] [comments]  |
| Should I transfer my settlement payments so I can invest them now? Posted: 28 Oct 2020 11:27 AM PDT Hey personal finance! So I didn't expect to post here until May. But here I am. For the sake of my own privacy I will condense this as much as I can. If you need clarification on something let me know, but I may not be able to give you details because it may lead you to being able to find me. At age 6 I was severely injured and got a settlement. This settlement was placed into an annuity/structured settlement (I am unsure which because my papers from the settlement say one thing and my papers from the company say another). I am set to receive the remaining installments every 5 years, starting next year. The amount paid out increases with every payment and I will receive the last payment when I am 40. I keep getting calls from companies telling me that I can transfer my payments to them for cash now. I have always been told that my settlement was legally barred, by the judge who issued it, from being sold or transferred. These companies keep telling me that this is not true. I have told them that I feel that their service is predatory and not to contact me again. They keep parroting how great it would be for me to use this money to invest. This got me thinking is this service truly as predatory as it seems, and would it be a good idea to take one of these services up on their offer? I asked them to send me figures via email so that I can speak to a financial advisor about it but they still haven't done that because they want me to speak to their financial advisor which sets off alarm bells for me. [link] [comments]  |
| Roth IRA - Vanguard Mutual Fund Posted: 28 Oct 2020 12:27 PM PDT I've been contributing to my employee sponsored 401k/Roth 401k with Vanguard between 10-16% over the past 5 years, and have recently replenished my checking account after purchasing a home. After doing some research, I decided to open a Roth IRA to take advantage of the future, tax-free withdrawals while still under the MAGI (will likely eclipse in the next few years then switch to backdoor). I just deposited the max contribution in my account and invested all $6,000 in VTSAX. Is there anything I'm missing? Looking for any advice - thanks! [link] [comments]  |
| Posted: 28 Oct 2020 05:27 PM PDT Dealership called today telling my bf that his $400/month car payments will need to be $500/month for him to be approved for the financing. Full disclosure, the car payments are so high because of his poor credit score from his youth that he's trying to rebuild. This doesn't make sense to us because we figured when you drive a car off the lot, the financing has already been approved with the bank. The car was $11,900 and he put $2,500 down. Is the dealership trying to pull one over one my bf? He plans on calling the bank associated with his car loan in the morning and then the dealership, but I just wanted to give him a little insight before the calls. [link] [comments]  |
| Posted: 28 Oct 2020 07:29 PM PDT I've been panicking and on the verge of tears for hours trying to figure out what to do, what personal loans I could qualify for, how much I can cash out of retirement (nothing unless I quit my job for some reason). I've cashed out my Acorns (only $600), I sold my original Pokémon cards to take advantage of the market but that only got me about $200 but I have more posted that might bring in another hundred. I've posted every electronic and worthwhile thing I can think of to FB marketplace. But I don't know how I'm going to make $10,000 in 2 months. I thought I was saving the right amount to cover 1099 taxes (formed an S-Corp effective January per CPA recommendation to save money) but I was wrong about how much to save, now I only have $3,000 out of $12,000 saved. I have 4 kids and a wife that just lost her father last month and now I won't have a literal cent to spare on Christmas, traveling to see family, fun, anything until I've saved enough to pay off these taxes. Then my furnace just went out today and it's $600 to fix it. We live in northern Utah and it was 6 on Sunday which broke a pipe in our front yard that I just had to pay for too. I am lost and terrified and I have no idea what I'm going to do. I already work 2 full time jobs in IT but I am looking into additional ways to make an extra thousand or two a month. Even if it means having to go apply at a min wage overnight job. We moved, my 2nd job changed me to a 1099 worker, I thought I was saving enough to cover the taxes and I was wrong. I just talked to my CPA today and I owe $12,000 by January. I only have $3,000 saved. Any advice at all is greatly, greatly appreciated. Any leads on jobs that can be done remotely. I'll sell a kidney. I don't care I just need to make sure I'm not going to jail for tax evasion and that I can get my family Christmas and food. I'm sorry for rambling, I'm just so upset I put us in this situation by not being more (if at all) informed. ANY advice is appreciated. [link] [comments]  |
| Where does a beginner start? No seriously, a BEGINNER-beginner. Posted: 28 Oct 2020 07:27 PM PDT I grew up in poverty. Not because my parents weren't good with money, mind you. My parents are immigrants and amazingly frugal and do amazingly well with what they have. But they weren't born into money by any means; and both had a string of misfortune (looking for easy way through gambling, are not educated ) that basically left us at the bottom of the class chain Now, growing up this way, I definitely learned how to stretch a dollar. I am frugal to the point of being a cheapskate; I know how to get good deals and use coupons and anything else I can do to save a buck. I never spend money on anything that's not absolutely necessary. I'm not in debt, even though I did have to pay off a lot of medical bills due to not having insurance. I like to think i'm good with money - because when i was young I've learn to barter with people which eventually lead me to flip stuff ( buy low sell high) I can stretch my meager salary further than most anyone else can with three times that. Right now i am self employed working to expand the business that i've grown from the skillset i've learn. as I got out of college, there are no jobs in my field and my skillset was limited aside from that which I'm still working on it. So I've got that part down. My problem is that growing up the way I did, I never had any sort of education about things like 401ks and retirement plans. My parents will never be able to retire; they don't have a 401k or any of that, so they never bothered to tell me about it. I don't even know how much I should shoot to save for retirement, when I could think about possibly retiring, or where to put the money when I start saving it. I try to Google this stuff and I get lost in the terminology and finance-speak that I was never educated on. I feel like all of these websites are targeted towards upper-class businessmen who have worked in such things already, and already know all the terms and what-not. I don't know any of it. I feel very backwoods hillbilly blue collar at this point, I'm embarrassed to be so ignorant. So I'm asking you guys. Does anyone know of a good place to start? I mean for someone that really knows NOTHING about this stuff. Seriously, remember that I don't even know how a 401k works; I was taught that it was something meant for those white-collar folk in their big wig jobs, so I shouldn't bother knowing. Seriously, I'm the beginner-est of the beginners. So I need a verrry basic tutorial. Help?! Thanks!! [link] [comments]  |
| Is there a correct time to switch index funds? Posted: 28 Oct 2020 11:30 AM PDT Hi all, I help out my girlfriend with saving/investing. I had her in Fidelity's 2060 target date fund. I read online that the Fidelity 2060 index target fund seems to be a better choice. Is there a wrong time to sell the original shares and buy the index shares? Does it matter if the market is up or down? I guess this can also just be a general question of is there ever bad time to reallocate funds? Obviously the idea is to buy low sell high but if you're technically buying right back in, does it matter? Thanks in advance. [link] [comments]  |
| How much should I save before moving out for the first time? Am I putting to much into retirement? Posted: 28 Oct 2020 08:22 PM PDT Some background info on myself: -18 years old, going to be 19 in December. 30k ish networth spread out between 12K Roth IRA (Vanguard Target 2065 Fund) 10k Individual stock portfolio, some index funds 4k in general savings (building back up) 5k in a separate savings, planning on spreading out throughout 2021 (to use as next year's IRA contribution) My parents are helping me pay for community college starting around January. I work full time, minimum wage making around $800 every two weeks—with tips added, take home is around $2k a month. My current plan is to reach around 35k NW by the New Year, and adding $1k onto the $5k I have saved up for next year's Roth contribution, and the other $4k left over to savings, which will make general savings be around $8k at that time. I don't plan on moving out for the next year or so, but am I planning this right? I know the rule is generally 6 months of expenses prior to moving out, but pretending that the most expensive/costly scenarios happen (no job, etc etc.) is it right to hold a minimum of $10k in savings if I don't plan on moving out for another year? If I pretend rent for an apartment is ~$1200 and I split that 50/50 with a roommate, and budgeting for food, car, etc. I'm calculating moving out as $1k a month. I recently purchased a 2003 Toyota, paid 6 months of insurance up front. I feel like I'm doing well in terms of generating a decent income for my age and not having started school yet, but do you guys think I'm leaning into investments too much? [link] [comments]  |
| Roommate caused eviction. How to handle debt collector? Posted: 28 Oct 2020 11:48 AM PDT Hi! I need some help with a debt collector... but some backstory may help so here it goes! Over a year ago I was evicted (by a judged) due to back owed rent. I was in a 2BR apartment with a (craiglist) roommate. We had a joint lease (both responsible). I had 'taken over' the lease from another individual only a month or so into the 12 month lease (He moved from across the country for a job, didn't realize how much the traffic from the location affected his commute). Long story short(er), she immediately fell behind on rent causing me to have to 'remind her'. She always had an excuse: "Oh I forgot", "oh i dropped the check off... weird" etc. She would typically get back on it though. However at one point she totally deferred paying rent for the alternative: constantly flights and trips, some out of the country with he friends. At a certain point, I was locked out from paying "my half" in the payment portal. With constant trips to the management office, I begged to pay my half, or options to get out of the lease. I was told I was "in a shitty situation, but nothing could be done but pay the rent in full". After court hearing was served my roommate assured me "oh don't even respond to that, I have it all handled. This is on me so I am taking care of it". I followed up re: it several times and she always told me the "new status" of what her lawyer was doing. (turns out the 'lawyer' was a paralegal friend, who was doing NOTHING). Well... one day I get a text from her... "hey I am in France with friends but there is a court case you need to go to tomorrow morning. Dont worry, nothing is going to happen you just need to show up and say I want a new date bc I am out of country" I show up, the judge says "hey.. you never sent a response back... only your roommate did. You can stay in the court room but you lost your right to argue." The plaintiff answered and provided all his evidence against my roommate and myself to the court, the judge ruled an eviction. Now to the present... where I need help. I am currently being pursued for over $20,000 in back rent, charges, and interest. I answered a phone call from the collector just over a month ago. I didn't knot acknowledge the debt, but asked for proof of burden and itemization of debt. I received it today, just over a month later (was post marked within the month though). Here is the thing... The documents provided show the itemization of costs... and the ORIGINAL RENTAL AGREEMENT. This has the OLD roommate's agreement on it, and his name. Nowhere in the provided "proof of burden" does it have my name, other than on the cover letter of the documents which is just a address header, nothing to do with the source of debt. Can I use this as leverage to void the burden of debt? If so, what do I need to do? Now, I did mention that at a point "I could not pay any more rent due to being locked out"... so one may argue I owe something... hell one could argue per the rental agreement I owe in FULL... but it was my roommates actions that directly caused ~75%+ OF THAT $20,000. So with that said... if full drop of debt is not an option given the details above... could a certain avenue be approached to leverage a significantly lower settlement? Anything can help.... I appreciate it! Side note: I know that craiglist roommates.. bad idea... putting myself in a "hope they pay" situation bad... and other mistakes were made along the way. Feel free to point these out for others and myself moving forward, but in the end I am seeking solutions to the current problems :) [link] [comments]  |
| When to follow up after a job offer salary negotiation? Posted: 28 Oct 2020 12:58 PM PDT I recently received an offer from a company I have been interviewing with. While interviewing I got to discuss the salary with the hiring manager. They told me their likely salary range (to confirm with HR) which was matching well the salary range I was looking for (a bit more even). Fast forward to the offer from the company I received on Monday (sent by the hiring manager), the annual salary is 20 to 30% lower than what we discussed over the phone. I was quite surprised. The manager asked me if I had any questions etc... Basically I told them I was looking forward working with them but the salary was lower than I expected, given what we discussed. I asked a few questions and wanted to know if they had some flexibility over that salary e.g increase my annual. The manager answered my questions and told me they would discuss salary adjustment with HR and their manager and that they'll let me know asap. It has been only two days since our interaction but the offer mentions they expect want an answer by Friday since I am supposed to start in less than two weeks. So I would normally give them more time to figure it out, I do not want to lose the offer altogether, since it is a better position than the one I have anyway. Note that it is an international company so the interaction on their side means they have to deal with multiple time zones. When should I reach out again? And any advice on what to mention? Better to email to keep written proof or call? I don't want to pressure them, but I also want to have time to review the final offer, ask a few additional questions etc... and then signing and sending everything back. I expected I would have more time to discuss the details. Thanks! [link] [comments]  |
| Invest in Roth IRA or pay off car loan? Posted: 28 Oct 2020 05:45 PM PDT Now I know it's a "7% return" if I pay off my car loan that is 7% but I'm torn between what I should do. I will pay off my car loan ASAP next year when I have more money coming in. I plan to pay off as much as physically possible every pay check and will finish paying off a $11k car loan hopefully by June or earlier. I can't figure out if it makes more sense to keep putting money in my Roth IRA because I haven't hit that $6000 limit for the year or just pay off the car loan. Even if I keep investing in my Roth this year I most likely still won't hit the limit, although I'm not sure what would make more sense. Is it worth to keep investing in it or pay off the loan first. I will definitely hit the limit next year no doubt but I'm not sure what's better. Have more in my Roth or pay off the loan. From all the information I have seen and heard it seems anything over 5% for a loan should probably paid off first. What holds me back right now is that I'm still in school until December so I have less income atm as I work less. [link] [comments]  |
| Deceased dad, do we need probate Posted: 28 Oct 2020 08:09 PM PDT Ok I'll try to explain this in short form. My dad passed away, my mom is still alive. The house is joint so it's safe from being taken. He has a very large CC bill that was in his name only and a smaller but still big CC that she was an authorized user on. We called today to ask where we email the copy of the death certificate and they stated they did not need it they would look it up and collect his debt from the estate. Well he doesn't have an estate, he has about twenty thousand dollars in assets that were in his name only. All are recreational toys like boats and atv and such. So my question is since they were in only his name can the credit card company force probate and take them or do they legally belong to my mother because they were his. We need those items to sell in order to pay the house payment and other things she was not aware he had not been taking care of. I don't want to sell them off if the credit cards are going to expect the funds from them. We live in Montana if that helps at all. I tried reading through estate laws but not much made complete sense. Can anyone offer any guidance on how this works. [link] [comments]  |
| College freshman, what should I do with my savings for the future? Posted: 28 Oct 2020 08:02 PM PDT I'm a freshman attending a community college in the US. I've been working through the pandemic and earning a few hundred dollars a week, and have saved up around 8k so far. I'm also attending community college, which is completely free in my area, and I am fortunate enough to have a college fund that will cover all of my education costs in the future. I have near zero expenses and no need for a car, so in all likelihood I'll have at least 20k saved by the time I go off to a 4 year university in Fall 2022. What's the best thing I can do with the money I'm making to put myself in the best possible position after I graduate? [link] [comments]  |
| Buying a car off lease, negotiation success? Posted: 28 Oct 2020 11:01 AM PDT I have a car that's on lease that I'm keen on keeping after the lease, however I got a good feeling that the lease contract's residual value is going to be way higher than what this car is worth. I've heard people talk about how you can negotiate the purchase price through the lessor by showing them the blue book trade in value. Has anyone had success with this? [link] [comments]  |
| Posted: 28 Oct 2020 07:36 PM PDT Not sure if this is the right place to post this, but I'm at a bit of a loss. Back in the beginning of June I rented a two bedroom condo. The summer weather had already hit when I moved in, so I immediately installed my 10,000 btu window air conditioner and had it running 8-10 hours a day to keep it cool enough for my animals. When I got my first electric bill it was right around 92 dollars. It remained consistent for the rest of the summer and I didn't think much of it. I just got my most recent electric bill, and after having the ac out for almost 2 months now the bill is still the exact same. In the past the ac had always cost 30 bucks a month to run. I called my electric company and they couldn't explain why my bill was the same but they told me they couldn't do anything about it, because all they do is read the meter. I also made sure they're actually reading the meter and not just estimating my bill. I went through the usage data that the electric company provides and my usage is somehow staying the same, even though I no longer have an ac, and I'm home far less than I was all summer. I haven't had anything new plugged in or running, so I have no idea why my bill hasn't changed. Any input on this would be super helpful, thanks [link] [comments]  |
| Deciding whether or not to take employer’s tuition reimbursement Posted: 28 Oct 2020 07:20 PM PDT I'm having trouble deciding whether to take tuition reimbursement from my employer. I'm doing a master's degree that will take 3 years. I would have to stay 3 years after the last tuition reimbursement payment if I were to take it. This means I would have to work at the company for 6 more years. My degree would not be at all related to my job so I'm worried about making it that far. The company would pay for the full degree. If I leave before 3 years after the last payment, I would have to pay the money back. I could afford to pay for the degree myself, but I'm just starting my career so I would like to save the money if possible. Option 1: If I take the tuition reimbursement and leave early, I would lose the tuition amount plus the taxes I paid on the amount over $5,250 each year. Option 2: Pay for it all myself, but have relatively low levels of savings for 3 years due to being in the first year of my career. My parents and grandparents could definitely help me in any bad situation so I'm not too worried about emergencies, but it would be mentally tough for me to have a low savings rate. Option 3: Take loans to pay for the schooling. This would be my only debt, but it would allow me to keep a good level of savings. [link] [comments]  |
| Posted: 28 Oct 2020 06:52 PM PDT Yes, I currently make a little over 2k a month with a career and a bachelors degree. Luckily, I live in a tiny mountain community in Appalachia, so I can afford to buy a house. The houses around here that are nice go for around 70k, which I'm pretty sure I could do. Credit is alright, going to spend 6 months raising it even higher and saving money. Here's the thing: I'm not sure if I should spend that much on a house, or if the smarter thing would be to buy land and put a 30k (or hell, even cheaper) trailer on it. It's currently just me, so it could be a "starter" while not putting me so much in debt, I could pay it off quicker, etc. Also, even though 70k houses around here are nice, a brand new trailer (even a cheap one) will most likely be nicer in general, new, and I won't have to do much work on it right out of the gate. I just don't know if a house would be smarter, since I could most likely sell it in a few years for more than what I would pay. I know mobile homes depreciate, but my observations around here over the last several years don't really ring true to that. Maybe it's because half the residents here do exactly what I described, buy land and put a double wide on it as their house (there are no trailer parks, and no neighborhoods here. It's very rural). I just don't know what the smarter thing financially would be. I do know that the mortgage, or payment, whatever, on either scenario would be cheaper than what I'm currently paying in rent for a shitty house where my landlord is very controlling. (Some quick comments, because I'm sure it will get suggested: no, I can not continue wasting money on rent for a variety of reasons, the main one being stability, and two, I do want to be "tied down". I'm not moving. I'm not relocating for a job. This is home and where I'm staying, although I may get my masters and make a significant amount more in the future). [link] [comments]  |
| Are both of my health plans eligible for an HSA? Posted: 28 Oct 2020 06:51 PM PDT US-TX: Hello, I'm trying to figure out if my current PPO plan could be considered eligible for HSA contributions. Please see my options below and let me know what you think, the IRS definition seems a bit open to interpretation in my mind: PPO: Individual Deducible: $1,500/OOP Max: $6,000 Choice: Individual Deductible: $2,800/OOP Max: $6550 (Plan states HDHP with HSA and employers contributions towards HSA) IRS 2020 Rules: Minimum Individual deductible: $1,400/OOP Max: $6,900 High deductible health plan (HDHP). An HDHP has:
IRS HSA Info: IRS Publication [link] [comments]  |
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