Personal Finance Help! Mom gave her SS# and bank info to "verify her identity" for her military beau |
- Help! Mom gave her SS# and bank info to "verify her identity" for her military beau
- My gullible aunt lost 25,000 dollars in a gift card scam
- Not Dave Ramsey-esque financial advice?
- I'm 19, I have 380 dollars to my name, and my parents are kicking me out, I have nowhere to go and no plans, what do I do?
- Hospital sent me to collections without notice, should I pay it and make it go away?
- Im building my rainy day fund: regular expenses during 12 months. Is this too much?
- Pay off loan or save more for a house?
- 24 years old - Vanguard Roth IRA help??
- After 15 years of working, I finally got a job that gives good, comfortable salary with bonuses but why do I feel sad after I've bought stuff?
- Bad idea to pull the money in my pension to pay off 15k in debt?
- Is there a calculator that can determine what the max cost is of a home you can afford?
- Is Vanguard worth it to start with $2,000 investment?
- What to do with savings while I go to school?
- Thoughts on reducing 401k contribution when buying a home?
- 529 vs Roth IRA saving for school expenses.
- What do I do to be financially okay?
- Car’s Lease Is Up Soon
- My credit report has an incorrect address, should I file a dispute?
- New Car vs. Pay off Loan
- Confused about 1099 Taxable Income
- Finding medical debt (in collections) that I didn’t know I owed. What next?
- 50k in savings account sitting around doing nothing. Help.
| Help! Mom gave her SS# and bank info to "verify her identity" for her military beau Posted: 31 Jan 2021 03:48 PM PST I am honestly beside myself... I will try to keep this as short as possible. My mom is in her 60's and is very lonely due to isolation (pandemic). She's been chatting with guys on Tinder for about 6 months. She has a "type" - "bad boy" military men. They are always on "assignment" somewhere, in the special forces, and love bomb her. I've told her countless times they are scammers. I don't know a lick about the military, but I can clearly tell they are scams. After awhile they would ask for money - she laughs cause she has none and blocks them... Recently, she's been talking to one guy in the "special forces" who "lives" on a base in DFW area. Supposedly she cannot call him directly, she needs to call "base" and then he calls her. I've told her it's most likely a scam. Last week she told me he's coming to her city (Houston), but the military will need to verify her identity (why?). I told her DO NOT GIVE OUT ANY PERSONAL INFORMATION. She just called me and told me he's coming, and that money for his trip will be deposited into her account. RED FLAGS are flying in front of me. Why tf would military personnel not have a bank? I ask her what info did she give them. She told me she gave her social and bank info - like her login details. Her credit dropped because they made a hard inquiry!!!!! How can she not realize by now it's a scam?! I admit, I was livid and screamed at her to freeze her credit and call her bank ASAP. I just can't believe my mom could fall for something like this - even after I was right with the other scammers... Anyway... I need help on finding resources to protect her. She doesn't have much money (only SSDI). I told her to call her bank and tell them EVERYTHING and to freeze her credit via the 3 reporting agencies. What happens if they opened a card or loan under her name? What else can she do? What else can they access with her social and bank info? Edit: She was able to close her bank account (thank goodness). I am driving down tomorrow to help her set up a new account with her bank and go to the Social Security office to give them the new bank info and report the scam. I don't know if the scammer charged anything to her debit, but he did get notified her account was closed (and is attempting to call/text her). I told her to call at least one of the credit reporting agencies tonight to freeze her account and request details on the hard inquiry/claim it as fraudulent. She finally realized it is a scam. The really sad part about this is the "military" emails she received that were requesting her personal information are clearly not from the military and it pains me she didn't realize it at the time. I will also request account access to her credit cards, bank account, and any other important accounts to help her monitor activity. I plan to call my company's legal department (it part of benefits) to see about setting up a financial and medical PoA (not executable until absolutely necessary). I'm just so sad, she's had a really difficult life and this just makes it worse... Edit #2: So the good news is that they did not withdraw/deposit anything in her bank account. She called all three credit reporting agencies and froze her account. I told her to pack her bags and she'll be staying at my place for a few days so we can change her account passwords/user names, call SS, and get her annual credit report. I told her that it would be best for me to have access to all of her accounts - and she agreed. Right now she feels so stupid for falling for this scam, and I tried my best to reassure her that everything will be okay. We will get through this - just block the scammer's number and do NOT respond to him at all. I will also report this scam to the ic3 and FBI. Thank you all for the resources you provided. I just hope this can be a lesson for some of you who have aging parents or a parent, especially during these times when many are cut off from so many resources. I did not realize how lonely my mom was. I feel like I could have done more... I was always a bit dismissive of these encounters when we spoke... I will try my best to make up for it now. Thank you again. [link] [comments]  |
| My gullible aunt lost 25,000 dollars in a gift card scam Posted: 31 Jan 2021 05:39 PM PST I'm sure you've all read some variation of this scam before but a few details made me want to run the story by the community. Someone called my elderly aunt from an out-of-state number and claimed to be the local police, that she was implicated in an embezzlement scheme, and that there was an outstanding warrant for her arrest. In order to demonstrate "good faith", auntie would need to deposit her money with the police department in a secure location. It was a Saturday afternoon and the banks were closed, so naturally the next best thing for a legitimate police officer to ask is that she go buy Target gift cards at Lowe's and call back with the numbers for each. This is all textbook so far, but a few points perplex me beyond my relative's lack of common sense. Somehow Lowe's was perfectly fine with my aunt buying 23,500 dollars in the form of $500 gift cards. The clerk didn't think to escalate things when a woman who was clearly distressed and weeping asked to buy a Toyota-fuckin-Corolla worth of gift cards from a store they weren't even in. The company didn't have any policy in place for this, and her bank (a major one) didn't flag the attempt immediately or block the transaction. I don't blame these people for my aunt being a dolt, but it just seems like there should have been a few safeguards in place. This type of social engineering scam is common enough that I would expect a modicum of scrutiny in this scenario. As you can guess, the gift card numbers were relayed, the scammer gave a phony name, badge number, and case ID, and then went dark. While I'm only getting piecemeal updates, I can guess that the money is long gone. The real local police, her bank, Lowe's, and the FBI/FTC have been contacted. I surmise the prospects of recovering her money are pretty grim and auntie is exempted from fraud protection for withdrawing the money herself, but I wanted to run this by the community in case there is any recourse that hasn't considered. Is there a point of sale purchase limit at large retailers like this? Would there be a cutoff where the buyer would be directed to set up a corporate account? Or is she utterly SOL? My aunt is on social security and some parasitic shitfucker just stole half of her late husband's life insurance payout that she needed just to subsist. As credulous as she is, she is a good person and I would like to find a way to recover her money if possible. [link] [comments]  |
| Not Dave Ramsey-esque financial advice? Posted: 31 Jan 2021 09:17 AM PST I'm someone that learns most from a good book and taking notes. One of my 2021 goals is to get a better grasp on my finances and start making better decisions for Future Me. I find Dave Ramsey to be problematic (for me; that might not be the case for you) and I'm looking for other finance gurus that aren't him. I've tried Google but his books are usually the first few recommended. If anyone has any recommendations I'd really appreciate it! [link] [comments]  |
| Posted: 31 Jan 2021 06:03 PM PST I really don't know what to do, this has been such a shitty fucking month and what a way to fucking end it. I went through my first major breakup this month and now my parents are kicking me out because I got in an argument with my dad about the way they treat me. [link] [comments]  |
| Hospital sent me to collections without notice, should I pay it and make it go away? Posted: 31 Jan 2021 06:36 PM PST In January 2020 I was in the hospital with an injury. Around February I received a bill for the ambulance that took me to the hospital, and in March I received the bill for the doctor who performed my surgery. I reached out to the hospital about the remaining balance but I guess due to Covid no one was able to give me an answer. When I would look in my online portal it had a zero balance. Today I received a letter from collections with no information / proof, just an amount and the hospitals name. My question is do I have to pay this and is this going to negatively hurt my credit score? In the past 18 months I was able to raise it a considerable amount and don't want this to hurt it. [link] [comments]  |
| Im building my rainy day fund: regular expenses during 12 months. Is this too much? Posted: 31 Jan 2021 04:09 AM PST I have summed all my regular costs for any given month and multiplied the amount for 12. Food, internet, healthcare, utilities, property tax... Some people recommend 3 to 6 months, but during the pandemic I fear it won't be enough. I'm currently happily employed :D) wise? waste? [link] [comments]  |
| Pay off loan or save more for a house? Posted: 31 Jan 2021 04:27 PM PST My wife and I are looking to buy our first home at the end of the year. Here is a quick break down of our money/debts:
The personal loan exists from recklessly spending money we didn't have/medical bills from years ago. It started at 15k and was spread over multiple credit cards. Never doing that again I just did our taxes and we are going to get 6.6k back which is pretty awesome. My question is: should I pay off that loan right now and save the extra $200/month or throw the $6.6k into the house fund? It might be a stupid question but I am not sure if having more money is better or less debt. Thank you! [link] [comments]  |
| 24 years old - Vanguard Roth IRA help?? Posted: 31 Jan 2021 06:59 PM PST So... how do I invest???? I just opened a Roth IRA on Vanguard ($3000) and honestly I am a bit confused on how I want to invest. I've read around and target date funds are recommended to just let it sit and not do anything with it. Tbh, I like the sound of just letting it sit there and not worry about it for the years to come. But it also seems that if you're young, you should be "aggressive" and invest in VOO/VTI/VXUS/etc.. I'm a total beginner at this but I figured it's better to start early and start saving for retirement. But I am also totally lost and I feel pretty dumb so any tips would be helpful LOL [link] [comments]  |
| Posted: 31 Jan 2021 09:44 AM PST Or is it because I'm not used to the feeling that I can now afford expensive things which were impossible for me to purchase before? It's a weird feeling. [link] [comments]  |
| Bad idea to pull the money in my pension to pay off 15k in debt? Posted: 31 Jan 2021 07:25 PM PST Currently off work due to injury with no savings. Short term disability will pay roughly 55% of my income, however with little to no savings and reduced income I'm struggling to even make the minimum payments on my debt and falling behind on bills. I'm 24 with roughly 30k in a pension. Any input would be appreciated. [link] [comments]  |
| Is there a calculator that can determine what the max cost is of a home you can afford? Posted: 31 Jan 2021 05:55 AM PST Like, I wanted to see if there a was a detailed calculator that takes into account your assets, liabilities, and estimated costs of a owning a home, the utilities, etc. Not sure if budgeting or housing would be the best flair [link] [comments]  |
| Is Vanguard worth it to start with $2,000 investment? Posted: 30 Jan 2021 10:49 PM PST Been thinking about Vanguard as it seems like most people consider it to be pretty stable in general. Is it worth starting with an investment of $2,000 into Vanguard? Do you need big money to make it worthwhile or can even small investments turn into a lot over a long period of time? Thanks! [link] [comments]  |
| What to do with savings while I go to school? Posted: 31 Jan 2021 03:07 PM PST I'm currently living off savings while I persue a degree in my mid 30s. I have a cheap room that will stay available to me for awhile, and at this rate I should have enough money to last through the four years it will take to get my degree. No outstanding debt. Since I won't need all that money for awhile, I figure it makes sense to have it working for me until I do. If I put it in a Roth IRA, I can still draw on the principle when I need it. Is that correct? I can keep a bit in my savings account for more immediate emergencies, and have the rest invested while I go to school. I've never done this before so I'm hoping someone here can clue me in on a better plan of action or any potential downsides Iight not know about. Thanks in advance. [link] [comments]  |
| Thoughts on reducing 401k contribution when buying a home? Posted: 31 Jan 2021 06:36 PM PST Curious what thoughts are around lowering 401k contributions and use that extra money to help with a mortgage? I get it's situational and everyones mortgage is structured differently. In general though, just looking at some basics: making 96k annually (not including about 3k-5k annual bonus) and contributing 18% to 401k. There's a balance of about 130k in there and I'm 29 years old. I was thinking about lowering my 401k 18% to the low teens and using that extra couple hundred to help with mortgage payments. I know there are so many other factors to consider and I've used probably a dozen different calculators. I guess I wanted to know what everyone's opinions would be if they were faced with the similar option. Edit: spelling [link] [comments]  |
| 529 vs Roth IRA saving for school expenses. Posted: 31 Jan 2021 03:46 PM PST Hey all thank you for the time. Little background, I am about to have my first child and am looking to set aside money for their future education ASAP. As far as saving for my retirement goes, If all goes according to plan I should receive a generous public pension that will give me roughly 86% of my highest years salary for the duration of the rest of my life. If I retire at age 60 instead of 58 it'll be 90%. I am max contributing to a 457b plan and have been for 5 years now. Between my pension, my 457, and the fact that I'm still relatively young I'm not especially worried about my retirement at this point in my life. So I want to start saving for school for my kid (and potential future kids) and I want to know whether I should just max out Roth IRA or go with a 529 plan? I am in California if that makes any significant difference. If it were to be a joint plan with my wife contributing as well is a 529 better? (is that possible?) or should we both do Roth IRAs? Or are there better investment options? Ideally, it'd be for college but I've also started to entertain the idea of boarding school after my kid turns 14 (watched Dead Poet Society today lol.) Appreciate any insight anyone can offer. [link] [comments]  |
| What do I do to be financially okay? Posted: 31 Jan 2021 04:42 PM PST I'm 17 years old and I got kicked out this month. I'm holding on quite okay. But, I am going to college this year and will be attending in the fall. My mother would not help me whatsoever and I don't even know some of her information to file for financial aid. What can I do to be financially okay? I'm going to college and getting my degree, so that's out of question. I have gotten a job that's alright, and will be getting my own bank account. But the good thing is that I will be receiving my associates degree, so that's two less years to pay. But I don't know what to do first. I heard people are putting money into a Roth IRA and then the other goes to investing into stocks. Not sure what's the smart thing here. And my mother put me as a dependent in her taxes but hasn't given my medical information, SSN card, birth certificate, other things that are important right now. What can I do? It's likely that my mother committed tax fraud and child abandonment since I am a minor and will be a legal adult in the fall. So again what can I do now and later to be financially okay? [link] [comments]  |
| Posted: 31 Jan 2021 08:21 PM PST Hi all! I am 24F, currently living at home and going to grad school. I leased my first car (Honda HR-V) back in 2018, and it will be up this coming August. I wanted to get a jump on deciding what to do. I currently pay $245/month, and $124/month for insurance. I have a few options.
I'm more leaning towards 1 or 2, simply because I'm familiar with my car and the total price is a little better than comparable cars with my year and mileage. I also like the idea of leasing because it's be new and (ideally) fewer problems! My only hesitation with leasing is after I graduate grad school (aiming for winter 2022) I might be moving out of state if that's where I can find my dream job. I'd love any advice/insight you may have into my situation! [link] [comments]  |
| My credit report has an incorrect address, should I file a dispute? Posted: 31 Jan 2021 08:15 PM PST Just requested a credit report for the first time (I'm a young, recent college grad). On the report it showed two addresses. One was the correct address and the other was my exact address but in the neighboring state. I live in a town right on the state line between the two states so it could just be a simple mistake on one of my credit accounts. Anyways, Experian says addresses don't affect credit scores and it might be best to handle issues like that with my creditors rather than filing a dispute with them. I'm just not sure exactly what to do [link] [comments]  |
| Posted: 31 Jan 2021 08:03 PM PST Hi everyone: I'll try and keep this brief and thank you in advance to anyone who responds. Long story short, I am currently in possession of a car that is 7 years old (18,000 miles) and has just under $7,000 left on its loan. I have a few options: I can call the lender and have them repossess the vehicle, as I am not the original titleholder; or I can pay the loan off in full and have the title changed to me. I received some advice from a relative that has given me pause for thought: He suggested that I take the "get out of jail free card" and have the lender repossess the car. Then, go ahead and buy a new car, reasoning that the money I would have to put down to pay off the loan (on a car that is already 7 years old), could be better used as a down payment for a new car (and the warranty that comes with it). His main point was that it is better to buy a car and wait for what he calls the "sweet spot" of your car's value being right about the same amount as you owe on the loan. Then, trade it in for a newer model.That way, you'll always have a new car under warranty and you don't have to worry about things breaking down after you eventually pay off the loan several years down the road (ultimately ending up with an older car anyway). I'm not sure if I'm explaining this properly, but I think in his view, it is far better to be making payments on a loan for a new car (he even said he considers it apart of the "cost of living"), and having the warranty to go with it in case anything breaks down, than it is to pay off the loan on a car only for a major repair to occur. Yes, it might be better (and feel better) to drive a free and clear car with no debt, but it's only a matter of time before something breaks, especially with the way they make cars nowadays. I am by no means a financial expert and was going to pay off the loan and keep the car free and clear, but after hearing what my relative had to say, I almost would rather do that, even if I am then attached to a new loan. I like the idea of being debt free, but I suppose cars are a bit different in terms of an investment. They do not retain their original value by any means and are bound to break at some point. With all that said, I am interested to hear what anyone else thinks (so long as it is a respectful reply :)). Thanks again. [link] [comments]  |
| Confused about 1099 Taxable Income Posted: 31 Jan 2021 07:55 PM PST If I made over $600 for one independent contractor gig, but less than $600 for another independent gig, do I only report the income with the company where I made over 600? Or is it both since it would be the total income from independent work? First time doing taxes so help would be very appreciated. [link] [comments]  |
| Finding medical debt (in collections) that I didn’t know I owed. What next? Posted: 31 Jan 2021 07:49 PM PST I made an Experian account today and come to find, I apparently have $800 in medical debt in collections that I was unaware I even had going back to 2017. I had medical treatment around that time so I'm not disputing that they aren't mine. I haven't gotten any letters or phone calls regarding these that I'm aware of and certainly haven't recently. How do I go about paying these? I have no account numbers or anything. Credit simulator also shows if I pay them I can expect a 25 point (for each there are 3) score increase. I'm currently at a 676, is this true or even possible? I was under the impression paying them will not increase credit scores. [link] [comments]  |
| 50k in savings account sitting around doing nothing. Help. Posted: 31 Jan 2021 09:38 AM PST I'm 29 and currently have 50k in my savings account and would like to have it start working for me via investments rather than sitting around doing nothing. I currently make 28k/year. I am planning on opening and maximizing a roth ira along with leaving around 8k-9k in emergency savings. That leaves me with around 36k remaining to invest at the moment. My employer doesn't offer 401k benefits. Next, Would opening a fidelity brokerage account and depositing around 34k into a low cost passive index fund that follows the s&p500 be a mistake? Or Should I spread this out and invest the 34k in multiple low cost passive index funds? What would you guys do if you were in my situation? I currently live at home with parents but would like to move out in the next few years as soon as I am done with my nursing degree and my income increases. Thank you. [link] [comments]  |
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