Personal Finance Weekday Help and Victory Thread for the week of December 07, 2020 |
- Weekday Help and Victory Thread for the week of December 07, 2020
- Did I make a horrible mistake buying a new car?
- What are the implications of foster care?
- I have $35,000 sitting in my checking account. I want to make some money off it, what should I do?
- My mom stole my identity!!!
- (ID) Got fired for "misconduct" relating to drug use. This is untrue and I have been denied unemployment benefits.
- How to handle creditors after husband passed away?
- How do I buy my fiancé's car?
- How important is it to have 20% downpayment for a house? I have excellent credit (>800) and god income.
- Fraudulent Activity in my savings account
- The bank my car loan is through never informed me that they don’t automatically withdraw the last payment. Is this common practice?
- How much can I afford to spend on rent?
- Can I hand over my nieces 529 account to my brother
- Property management company I haven’t rented from in 4 years says I owe $900
- first-time home ownership? or not.
- [California] Wife and I lost our jobs this year, just had our first kid 1 week ago. We’re looking into selling our house and moving in with her parents. Is this financially sound?
- Best way I can collect money that's been gifted to my kids for their future?
- What should I pay off first - credit cards or back taxes? Is a personal loan ever the right move?
- Company wants me to pay back overpaid wages, can they force me to?
- Looking for ways to save electric/propane. More info below!
- Best way to save for college fund
- Unpaid IRS taxes. Deadline is crazy close.
- Should I open up a Roth IRA and contribute the max amount before year end?
- Do I remove myself as an authorized user?
- Buying a house before selling current house - how to put sale profits towards new house?
| Weekday Help and Victory Thread for the week of December 07, 2020 Posted: 07 Dec 2020 03:00 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| Did I make a horrible mistake buying a new car? Posted: 07 Dec 2020 07:26 AM PST Hi, Yesterday I purchased a CPO 2020 Hybrid Camry with >10k miles on it. I do really like this car. When I purchased it I reasoned it out to myself that I will probably have it for 10+ years. It has great safety features, extremely good gas mileage, and is good for the environment. While there are plenty of logical reasons to have this car, I don't know if it was a good financial decision for me. The payments are $390/month with a 72 month term at 5.9%. My credit score is around 710. I bring in about $3500 a month and have very low expenses. I let myself be talked into buying this car because I was paying 16% interest on my old car, which I still owed nearly 3k on and which had some expensive mechanical problems making it only worth about $500. But now I'm extremely anxious and feeling legitimately sick to my stomach because I don't want to be in debt for this long. I have never owed this much at any point in my life, and I've read so much about not having debt being the best thing ever that I feel like I've royally screwed myself. I have 3 days to bring the car back to the dealership, but I'm a nervous wreck and I'm trying to decide if the financial benefit of taking it back outweighs my anxiety. Would it be bad for me to keep the car? Is carrying debt really that bad? Edit: All right everybody, I feel sufficiently shitty about myself. I called the dealership and I'll be taking the car back for money back. It's too bad because I really do love the car. But y'all are right. [link] [comments]  |
| What are the implications of foster care? Posted: 07 Dec 2020 04:43 PM PST Hey all. The wife and I are thinking about doing foster care. With how screwed up the world is we are wanting to do what we can to make at least one kids life better. I hope this is the right sub for this question, but I want to know what some financial implications are of foster care. We have a bit of margin financially, but if foster care is too great of a net negative we may need to wait a few more years. We are just in the searching process so wanted to get some feedback, potentially from those who have done it. What are some costs we wouldn't be thinking about? Was your state able to meet the financial needs of your foster child? Or did it come out to a net loss? If so, how much of one? Thanks [link] [comments]  |
| I have $35,000 sitting in my checking account. I want to make some money off it, what should I do? Posted: 07 Dec 2020 06:26 PM PST I know this question get's asked a lot but everyone is different. About me: I'm 36 years and own my own house (have about $110,00 left on the loan at 3.8%) I live alone (do have a g/f, no kids and never gonna have them). No debt what so ever. I only pay utilities, car insurance, cell phone, and internet. I own 2 reliable cars and don't see myself having to buy another anytime soon. I have a 401K which I put away 12% each paycheck + an employee match of 4%. Right now it's around $125,000. Out of the $35K in my savings a good $5-10,000 is set away for an emergency fund which will cover me easily for 6 months. Before all "this" happened I was gonna drop about $5,000 on updating the kitchen in my house but for now that has been put on hold. What should I do with this money? I feel like I am wasting potential with it just sitting there earning a couple pennies a month. EDIT: Thanks for all the help! Looks like I have some reading to do! [link] [comments]  |
| Posted: 07 Dec 2020 02:11 PM PST I went to check my credit score this morning just out of curiosity. I have never owned a credit card, and only turned 18 a couple of months ago. As soon as I see my score I realize that first of all, it's bad, and second of all there's a credit card linked to me that I don't own and have no knowledge of. The card has $757 spent on it out of a 750 credit limit. It's a discover card, so I call discover immediately and report it. They tell me a card does come up under my social security number with my name, but the email on the card is not mine and the address. The lady from discover tells me the email, and it's my moms!!! The address is also the place she is residing at, but she doesn't own the house it is a friends. The lady says they will open up an investigation and send something to a credit bureau to get it off my score. She also suggested filing a police report. My mom is an alcoholic, she also takes medication for anxiety depression and bipolar disorder. She lives with a friend because she is broke, has no job, and her house was foreclosed. She went bankrupt a couple years ago as well but I think the 7 years are up by now. Should I file the identity theft police report? I feel so horrible because she is my mom and obviously is not in the right head space. But I don't know what more to do. I never really see her and avoid speaking to her. I wasn't planning on saying anything to her about it, but I texted my brother, aunt, and grandma. My brother was quick to text my mom something about it. She texts me and says "do not file a report. I got you a credit card with a small amount for you to use". Like what??? I had no knowledge of this card and it's been open for two months and is maxed out!!! What do I do. [link] [comments]  |
| Posted: 07 Dec 2020 03:07 PM PST I (19f) previously worked at a nonprofit organization dealing with wildlife and aquatic animals. I reported stalking and harassment from a coworker, and death threats from his wife, to my boss who questioned the perpetrator. My coworker denied it and my boss sided with him. The situation at work escalated and my coworker began lying and spreading inappropriate rumors and accusations towards me, while I tried my best to do my job and stay out of it. My boss still took his side over mine. This coworker then claimed I was using drugs on the clock and my boss decided to fire me for that reason on November 6th of this year. I received my denial of benefits today after my previous employer claimed I was terminated for misconduct. None of this is true at all. When he claimed it was for drugs, I requested a test which he denied, going against the company policy, and told me "he was going to let me go anyway." I immediately went and got tested just an hour or so after I was fired. Everything negative, as expected. I did not show my previous employer, as I was worried he would change my termination reason. I was also never given any termination papers. I was extremely good about not letting the drama get in the way of my work. I was never late and only called out once when I was in the ER with internal bleeding. One time, however, I was using my phone for personal reasons (My coworker told me that my harasser was asking for my car make, model, and licensed plate number, so I was responding) and my boss asked me to put it away, which I obliged. This is the only instance I had been using my phone and there is nothing in policy or that I signed against this. I found the situation heavily ironic since my harasser would walk around the building playing Pokémon go for hours and actually skipped two weeks of work with no call in, but I digress. My previous employer told me I was a phenomenal employee and that I went absolutely above and beyond in my work, but it didn't matter. My harasser was in the marketing team and was the one who brought in donations and income. Almost all of my coworkers knew what was going on between the harasser and I, and from what I hear, they are not happy with how the situation ended. Do I have grounds to appeal? Some of my coworkers have offered to give testaments and I have the paperwork for the drug testing. Idaho is an at-will state, but they also put burden of proof on the employer. I'm not sure how to proceed, as I'm unsure if I have adequate evidence. My boss is currently having an affair with one of the managers, and I'm afraid that she and my boss will continue being dishonest and fabricate something. I also no longer have most of the harassment evidence as my coworker threatened to kill himself or I if I didn't delete it. Unfortunately I am naïve, young and was terrified and did. I've made a lot of mistakes and desperately need help. Thank you EDIT: I have spoken to a few attorneys and have been denied each time. I was told there isn't enough adequate evidence for a case [link] [comments]  |
| How to handle creditors after husband passed away? Posted: 07 Dec 2020 05:42 PM PST My husband died a few months ago. We had been separated for most of the year before that, during which time he racked up about 65k in credit card debt across 6 or so cards. The bulk of the debt is on 2 cards that I am an authorized user on. When I called to tell them he had died, they let me know I was not liable to pay them back since I'm only an authorized user. Understandably though they've been passed on to debt collectors who are constantly calling me and I was informed by Mint that my credit is taking dings for now being in collections on these cards. There is no money in his estate to pay off the cards. So I'm wondering how I handle these collectors now? I was told after a year they can no longer come after the money but if my score will be hurt during that time, I cannot wait another 9 months to deal with this. What do I say? How do I get them to stop harassing me and more importantly, how can I stop being dinged by something I am not even responsible for paying back?! Everything in this process has been extremely difficult and time consuming and any help anyone can shed on this issue and how to handle these creditors would be fantastic. Thank you! [link] [comments]  |
| Posted: 07 Dec 2020 07:31 PM PST My fiancé and I will be getting married shortly and will be joining our finances. Her auto loan doesn't have the best financing as she got her car as a student. I'd like to buy the car from her as I believe I can secure a better auto loan with my credit background and save some money. Would appreciate if someone could outline what the steps are to buy my fiancé's car in this scenario? I'm essentially trying to obtain my own financing to take over the financing she got from the dealership while she continues to use the car. Thanks in advance! [link] [comments]  |
| Posted: 07 Dec 2020 09:48 AM PST I am in US. I want to buy next year and the housing pricing is quite high. It is more likely that I can only have 15% saved-up. What do you think? EDIT: good income, not god income. LOL [link] [comments]  |
| Fraudulent Activity in my savings account Posted: 07 Dec 2020 03:04 PM PST Looking for advice. Thanks in advance. My wife and I have a shared savings account with Chase where we had about $14K saved away. Didnt really check it that often. One day in October I was checking in our bank accounts and I discovered that someone had accessed our savings account and basically withdrawn almost 13K and used it to pay off various paypal credit cards over the course of 4 days in October. Each payment is to a diff set of random letters and numbers. I also noticed that back in February, about 8 months prior to the major fraudulent activity, someone had withdrawn measly $5. Im guessing this was a test to see if anyone would notice. These are obviously fraudulent charges. Chase is saying they are only liable for the loss 60 days from the initial fraud. They happily announced they had reimbursed my account with $5. Am I taking crazy pills here? Isnt this FDIC insured. At this point I'm going to bring a lawsuit, I feel like they are screwing us around. Do I have standing. This was to be the down payment on our house and we just had our first child. Help reddit. Thanks. [link] [comments]  |
| Posted: 07 Dec 2020 09:20 AM PST So I am finally done paying off my car (yay! Thanks grandpa for co-signing and taking me from a 10% interest rate to a 2% interest rate) While I sorted out the payment online I only just found out that my last payment of the 24 month term was not automatically deducted on the first as it has been for the last 23 months. I was surprised to learn that they do not have an online portal to do so and wanted a check or in person visit. I comprised with the loan officer to accept my banks online bill pay but only sent in the amount of the payment and disputed the late charge of $100+ daily accruing interest for every day the payment is late. The online banking bill pay takes a few days to process and will be marked for the 10th. The only reason I found out is that I called to make sure they had the correct address to send the title to as I moved 12 months into the term of the lease. Should I be fighting the late fees and interest for the 10 days it is technically "late" as I was never notified that the last payment would not be automatically withdrawn? [link] [comments]  |
| How much can I afford to spend on rent? Posted: 07 Dec 2020 06:53 AM PST I'm about to accept a job but I want to figure out if I can afford to live near my job. The salary offered is $80,000. I have no student loans or debts. I have all needed furniture. There is a pretty favorable insurance package offered. ETA: the city is Washington DC. I would prefer to live in the city and without roommates. If I can find a place in the city, I will be selling my car. If I sell my car, I will have an additional $25-30k. [link] [comments]  |
| Can I hand over my nieces 529 account to my brother Posted: 07 Dec 2020 07:18 AM PST A few years ago, my brother had his first kid and as a gift, I started a college savings account for her. I created the account under my own name using Fidelity, but fast forward a few years and my brother has another kid and he's asking for the account to be in his name so he can manage it. Totally understandable, but I'm just not sure how that works and I'm looking for some help. Can he open a 529 account of his own, then initiate a rollover even though the original account is in my name? The beneficiary wouldn't change, just the account owner. If this would work, are there any tax implications? [link] [comments]  |
| Property management company I haven’t rented from in 4 years says I owe $900 Posted: 07 Dec 2020 03:58 PM PST So in February 2017 I subleased my apartment till the remainder of the lease. There was a sub lease charge associated with this that I am certain I paid. Today I got this email from the rental company:
I doubt I have any of the paperwork for this still available. Looking at my bank statements from around that time I see I paid $700 something, not the $900 they say I owe. I also have emails from this time asking for help with my web portal account because I wanted to make sure the sub lease fee was paid in time. I am no longer able to log into the portal to see the statements. I'm going to call tomorrow to see what is going on. Is there anything in particular I should ask for? Certain documents? I have a really good credit score and don't want anything going to collections, but I think it's ridiculous for this to come up years later and I'm pretty sure I paid all the correct fees at time of due. [link] [comments]  |
| first-time home ownership? or not. Posted: 07 Dec 2020 07:27 PM PST So, I have been in a situation where home ownership is something that becomes very attractive. Debt free, saved 100k, in a stable marriage and earning partner with steady job, except, I m going to end my contract 12/31/2020. My spouse and I have been browsing houses listings over and over and discussing about pros and cons of each house for months. It is necessary step, seems. We are both in our 30s, no kids, no pets, no such plan. Yes I am actively looking for jobs and cant really get my ideal ones so far because academic jobs are rare especially now and we don't want to be separate states away, or continents away. So, let's settle. I have a credit score of 772. And no student loans or car loans. My spouse same. I'd say we are financially stable except I need a job to feel a sense of satisfaction---all these years of grad school and a PhD! agrhh. Is it a good time to buy a home? We are looking at 270k-350k. And with 30yr mortgage, the monthly comes down to around 13k - 18k, not so much more than we pay rent now. Any advice?? Thanks!! [link] [comments]  |
| Posted: 07 Dec 2020 12:34 PM PST This year has been rough. 2 weeks after the initial pandemic fears overtook the country, my wife and I found out we were pregnant. Okay, that'll be tough be we went through it. Then right after that, I lost my job. She still had hers for a few months, working from home, but eventually she was laid off too. And now with having our baby, we discussed it together that it'd be a good idea if we sell our townhouse and move in with her parents to avoid money issues, have family support, and hopefully get jobs and save again. Before we were laid off, I used to make $68k in IT for an entertainment company. And my wife used to make $118k in Operations/Facilities for another entertainment company. Now we both have unemployment as our only source of 'income', so $3600/month - except I'm already on PEUC and that's going to end Dec 26th (I won't be able to apply for UI until April of next year). My wife got a good amount for her severance package that's in our joint savings account, which is 25k. We have about 8k in our checking for the bills that come in during the month. I withdrew 8.5k from my 401K (just started 2 years ago, so that's the total of it) without fees due to the Cares Act and I didn't have them take out taxes. This was a few months ago, and I used that to pay off some emergency expenses that came out way. My wife has her 401K at around 150k untouched, while having about 10k in her checking and another 12k in her savings. Our house currently has a principle balance of $403k with 3.25% interest. We also have a Home Equity Loan principle balance of $97k (not sure exactly on the interest). My wife only has $1775 credit card debt but her car is paid off. I have about $4800 in credit card debt (0% interest financing for a few things for 12-18 months). I have $11,748 left to pay off my car with a $243/month at 3% interest financing. Our household bills come out to $4460.10/month. $5419.96/month if you include my credit card debt, and my wife's Cobra bill for her and our son. So having done the math, if we were to sell our house and at the very least come out net zero (but hopefully with some money in our pockets), moving into our parents house would reduce our bills drastically and we'd have support with it too. My wife's parents are actually really happy about the idea because we are very close and they want to play with their grandson, but they've also always sheltered their only daughter and I can tell they would be happy to have us close to them. I'm sure it won't be flowery daisies for our sanity sometimes but financially it would really help us pay less and save money for 2-3 years. We've already contacted our realtor and asked her to come look at our house and put it up on the market ASAP. We're ready to go. I'm just wondering if any of what I've done makes financial sense outside of my own head. Anyone care to add or ask anything? [link] [comments]  |
| Best way I can collect money that's been gifted to my kids for their future? Posted: 07 Dec 2020 07:36 PM PST Hi there, I have 2 toddlers (~3yo and ~1yo) and have been recently been questioned by our family and friends about what gifts the kids might like. They have soooooo many toys collected over the previous Christmases + bdays + random pick up gifts and they have all the clothes / basic necessities they could need, so I'd love to offer the option for them to be gifted $10, $20, $50, whatever to an account directly for the child someday. And no, I wouldn't expect my family / friends to all gift money but just to have an option that's more impactful (in my opinion) for myself and for my kids if they'd rather that than another toy or something. What I'm asking is: is there an account (or something) of some sort that I can direct my family / friends to that they'd be able to directly deposit money into that for them? As opposed to them handing me a $10 bill and them assuming that I'd deposit it into an account for the kid. It's not like they couldn't do that, but I suppose it's the equivalent of being gifted a gift card to a specific place to ensure you spend it on yourself at that place rather than just cash you might use for bills. Not sure if I'm communicating what I want fully but would love suggestions if this is something that already exists and I've just yet to find it. Thanks in advance! [link] [comments]  |
| What should I pay off first - credit cards or back taxes? Is a personal loan ever the right move? Posted: 07 Dec 2020 07:29 PM PST Hi there, Want to be more illustrative here, but everything I write out sounds like an excuse. Basically, I have lots of different kinds of debt. I read a lot about financial planning and debt repayment methods (shout out to all of you); but more often than not, the more I read the further behind I feel, then comes the depression. I was a freelancer until very recently, but my new job is full-time and considerably more than I've ever made. This could be my chance to make a real difference and pay off these debts/save some real money, but what's the best method considering the below? I often see "pay your taxes off first, duh!" But I'm on a payment plan and look at the difference in interest! My debts: Credit Card - $10,300 - interest ~$1,632/year Back Taxes - $4,990 - interest ~$397/year Student Loans - $6,300 - can't find the interest total anywhere (I think because they went into automatic pandemic forbearance, when I click to see all info it says 0% interest, but that can't be right), ones I can see - $782 at 5.55%, $1,007 at 5.25% Monthly Expenses: Rent (my share) - $1,550 Internet/Utilities/Car/Etc - $450 Groceries - $300-700 Therapy - $700 (little over $512 after insurance, but hasn't kicked in yet) Paycheck is $2,660 every two weeks. Savings: Nothing until this job with a 401k. I put 4% into my 401k (employer matches 4%), and want to open a Roth IRA, too? Is that right? Future: I want to have a family, and I've been encouraged to do so in spite of my finances by everyone in my life (family, therapist, etc.) - also important here, I'm female. So, I'll need to start before I have paid all this off I'm sure. And the big finish: Buying a house is a dream of mine that feels absolutely impossible. Houses in my city are a million dollars. $800k if you leave the city, but nothing under $600k unless you leave the radius of anywhere I'd be able to live and do my job. Thank you for reading and any help/thoughts! This was honestly very hard to write. There's a lot of shame involved and my parents are not an option for advice, but that's a whole other story. Edit: Forgot the second part of this question - I get offers for personal loans constantly and on it's face it seems like a good method for the card and taxes. I'm not so worried about the loans. But what's the catch? There has to be one. And to explain more, my credit score shows up differently in two places 711 and 764. I tried to apply for a zero interest card and got denied. I'm sure my score was lower then, but not by much. Scared me off that plan. Also, I look for cheaper rent consistently, but I'm in a relationship, hard to find cheaper without leaving the place I need to live to work. We actually tried living with roommates this year so I could pay down more, but it was a catastrophe and that's how we ended up here. Thanks! [link] [comments]  |
| Company wants me to pay back overpaid wages, can they force me to? Posted: 07 Dec 2020 06:28 PM PST I received a letter today from our newest HR person that said during a routine review of my payroll history they found an inadvertent wage overpayment, from 1/2020 to 11/2020. They claim that I should be receiving $1.04/hr, but my base pay was at $2.04/hr (obviously not my real pay, but same difference in amount). They go on to say that I have 3 options for repayment: 1- entire amount by personal check; 2- payroll deduction of entire amount; 3- installment repayment plan through payroll deduction. They did not give a total dollar amount of what I was supposedly overpaid, as they "are currently researching the gross amount of overpayment." However, as of Dec. last year, I was making $1.84/hr, with a guaranteed pay raise of $0.20 per year that is written into my union contract. Which means that, at minimum, I should be getting $2.04/hr this year (they can give higher pay increases if they choose). They have been paying me at $3.04/hr all year. Which means the amounts in the letter they sent to me are not correct. I have not yet received a paycheck with a reduced amount of hourly pay, so I do not know yet if they have deducted the $1/hr, or if they have reduced it down to below what I should be making. To top it off, I do not believe this was a random check, as I recently during open enrollment called up the company that handles our 401(k) accounts to have 6% of my check put towards my 401(k). That company informed me that my contributions were already set at 6% and had been since November of 2016. This seemed odd to me, as I had initially set this up when I was first eligible for 401(k) deductions, but after changing jobs within the company in May of 2017 the 401(k) contributions were halted. I had gone from a non-union position to a union position and was told at the time that because the company put money into a pension fund for me, that I was no longer eligible for the 401(k) program. I learned from a HR person this year, that this was incorrect. I am allowed to put money into the 401(k), but that the company would not match it as they normally would because of the pension. I emailed the HR person and let them know about the deductions being in effect from November 2016 to present, and that deductions had not been being taken out from May 2017 to present. This person emailed their higher-ups and got the deductions started again and was looking into what we could do about addressing the missed deductions that should have been taken out all along. That HR person was then fired 2 weeks ago and now I get this letter. My questions: Can they force me to repay the overpaid amount? Do I have any recourse as to the years of missed 401(k) contributions other than making catch-up contributions myself? [link] [comments]  |
| Looking for ways to save electric/propane. More info below! Posted: 07 Dec 2020 05:03 PM PST Hey so I just moved into my first place of my own. The heating is electric and the water heater and stove/oven use propane. Any tips to conserve electricity and propane usage? It's a very small cottage and it's just my girlfriend and I living here. We have been -keeping appliances like the tv and microwave unplugged when not in use -taking fast warm showers (not hot) -washing dishes with cold water -keeping lights turned off as much as possible -and the obvious, keeping the heat pretty low, but still comfortable (approx. 65 degrees) I live about 2 hours north of NYC, so it does get pretty cold this time of year Any advice would be appreciated! Thank you :) [link] [comments]  |
| Best way to save for college fund Posted: 07 Dec 2020 02:51 PM PST Hey everyone! My wife and I had our first daughter about a year and a half ago. I just started thinking about it, and I want to start a college fund for her. A few things that come to mind are the following: -where should I save the money? A 529 plan or is something better? -for whatever is the best option, what happens if she decides NOT to go to college? -any idea how much I should try to save per month to ensure that we have a nice amount to help pay for her college? I'm new to this idea, so any suggestions and information would be appreciated. I apologize for my little knowledge of this situation, but I figured I'd ask here and see what you all thought. Thank you! [link] [comments]  |
| Unpaid IRS taxes. Deadline is crazy close. Posted: 07 Dec 2020 06:35 PM PST So I'm slowly getting my life together after some years of really irresponsible living. I just got 3 separate IRS letters about unpaid taxes for 3 separate years. The total is about 1400 - I'm grateful that I can pay some of this and / or ask for help - so I'm not FREAKING out - but I'd really have a hard time doing either of these things and would prefer a payment plan. (They want it in ten days) I'm going to call them tomorrow but figured I'd hit up the nice guys first and see if y'all had any advice. Thanks! [link] [comments]  |
| Should I open up a Roth IRA and contribute the max amount before year end? Posted: 07 Dec 2020 07:27 PM PST I currently have a Roth 401K set up at work, with my employer matching up to 3k. I'm currently contributing 21% of my paycheck to the 401k. I was re-allocating my investment allocations and realized that the choices are just bad. So I want to open up a roth IRA, where I can control how that money is invested. I know at a minimum, I need 3k in the 401k so I will get the 100% match. If I'm opening up a new roth IRA, should I just stop payments into the 401k until the end of the year, and reallocate that money into the IRA (~1.5k) or stop those payments and reallocate AND add an additional 4.5k which would bring me to the max allowed 6k for the year? I can call my accounting and instruct them to do this with my next paycheck, if this is the best course of action - which I think is? I'd be paying taxes on that amount anyway, and it would go into my savings, or I can just put it into the IRA. If I don't need that 4.5k urgently, wouldn't this be the best thing to do over the next few weeks? [link] [comments]  |
| Do I remove myself as an authorized user? Posted: 07 Dec 2020 07:26 PM PST So I am a college student, with $15,000 in student loans. I've had my own credit card for 9 months, and I have a 20% utilization rate, I use it on school books, Uber's, and groceries, plane tickets, etc. I pay the full amount usually, although the past few months I've only paid a little bit more than above the minimum payment. My dilemma is deciding if I should take myself off of my parents credit card as an Authorized user. My parents have a utilization rate of 97% (yes that's not a typo) with a credit limit of 8,900 and a open balance of 8,592 but they've had it open with me as an authorized user for 4 years. Would it be wise to remove myself? I don't plan on using my credit anytime soon for a car or for a home mortgage (things of that sort) any help is appreciated. Thanks!! [link] [comments]  |
| Buying a house before selling current house - how to put sale profits towards new house? Posted: 07 Dec 2020 05:35 PM PST We are closing on a home this week, and our selling our current house. We have buyers for our current home but it won't close for another 30 days. How do we put profits from selling our current home into the new mortgage? We'll have a significant chunk of profit to put towards the new mortgage, and we would like to use it to lower our monthly payments. Will we have to refinance to make this work? Edit: sounds like I need to ask about recasting. Thanks for the feedback! [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment