Personal Finance Is a demotion with 1/3rd paycut and no employee wrongdoing "constructive dismissal?" |
- Is a demotion with 1/3rd paycut and no employee wrongdoing "constructive dismissal?"
- Book recommendations about basic money concepts for young child?
- Insurance adjuster wants my parents to sign over title to totaled car to her personally in person in a random parking lot
- The IRS release further guidance regarding $10,200 for those who already filed
- Older brother has fallen on hard times - repossessed car, very low credit. Seeking advice to help him turn his financial troubles around.
- 35 y/o - and not really entirely sure what to do about retirement
- I got scammed. Now I feel so much guilt and self-blame. How to recover from it?
- NC Dept. of Revenue - 7 years later
- My dad just got scammed via his Amazon Fire Stick
- IRS sent my parents and I 1400 despite being an independent now.
- My mother got a debt notice in the mail, I'd like to ask how I might check if it is a scam.
- Max out HSA with one month to go before delivery? New dad questions..
- How to pay off my student loans with extra income
- Masters Degree within Company's Tuition Reimbursement
- Mortgage refinance or not?
- Should I pay off my truck 2.5 years early?
- 23 YO, self employed, and I have no clue what I’m doing, lol
- Help Me Figure Out This ID Theft Scam
- Having trouble opening Checking Account online without a Branch visit. No credit or banking history. Advice?
- Private student loan company keeps annoying me after dismissing a loan.
- App for financial planning that doesn't require account?
- Grandpa died, helping Grandma cash out his stock. Running into W-9 request form roadblock
- Financial Independence
- Should I sell investments to pay down student debt?
| Is a demotion with 1/3rd paycut and no employee wrongdoing "constructive dismissal?" Posted: So let me lay out what exactly happened. My wife was making 50k per year pre-covid. She lost the job and like many others went to unemployment until she found something else. The new job is further away (from 30 minute commute to an 1hr & 30.) paid less (down to 40k per year) and so on. When originally offered the job, their plan, apparently, was to create a new position in management for her, as that was her position previously. Hence why she made 19/hr while her coworkers made 12. However, they just told her that the position never materialized and they'll be docking her pay to 12 on Monday. Now generally most people would say it's best to keep the job you already have, but here's the thing: in the area we live in 12/hr is minimum wage. She could get a job 12 minutes away where they've got help wanted signs, stocking shelves. It's not remotely worth keeping this job an hour and a half away. However, it's hard to figure out if she'd be eligible for "constructive dismissal" in Maryland and get the much more favorable covid unemployment benefits, while she looks for a new job she's actually gone to college to do, and fall back on the grocery store gig if unemployment dries up before she does. Can anyone advise on what her best course of action here is? [link] [comments]  |
| Book recommendations about basic money concepts for young child? Posted: Hi all, I have an almost 5 year old with an intellectual disability and I want to get her started with basic money concepts. I bought her a "spend, save, share" bank for Easter and would like a book to go with it. I have searched the wiki and did a search of the archives and haven't found much that's relevant. I mention the part about the ID because she's probably more like a 3 year old in terms of concepts but she's very interested in money so I figured we would start now. Any books you can recommend? Other ideas about how to talk to a very young child about money would be helpful! I think doing this early and often will be our best bet in helping her to manage her finances independently one day, which can be a challenge for people with her particular disability. Bonus question: I saw info about the 30 day challenges in the wiki. Are we still doing that? [link] [comments]  |
| Posted: Parents totaled their car 2 weeks ago. They have insurance. They called their agent, had it appraised, totalled, written off, all business as usual. I just happened to be in the room as they had a phone conversation with a private adjuster who I assume works with multiple firms, and what I heard set off every warning bell imaginable. First she seemed hesitant to give a simple number as to what the insurance was going to pay out. She eventually gave an initial claim and then gave another smaller number that I assume is what my parents can expect after regular fees. Then she was very interested/nervous about where the totaled car was being stored and kept mentioning storage fees. My brother works at a dealership and my parents initially had the car towed there hoping it was fixable and when they learned it was a wash, my brother just held it there no problem. So even after assuring this lady multiple times there would be no fees, it seemed like she was still very adamant/concerned. I guess it's possible the dealership would normally charge something and it would potentially be taken out of her/the insurance companies margins, but it really just seemed like another red flag to me. When my mom went to ask how they moved forward and when she send the title into the dealership/insurance company the lady FULL STOP said absolutely to not involve anyone but her. That's where I really felt like something was up. She (the adjuster) went on to say the company will give them the run around and it will take months to get the money etc. Then she says the easiest thing to do is to meet in person and sign the title over to her personally and then to bring a debit card and she'll wire them the money. I feel like my parents eyes lit up with dollar signs and ignored everything wrong with this whole situation. Am I being paranoid? To me the company would write the car off after being appraised and mail a check. Business as usual. Boring, like insurance should be. This lady just screams scammer to me and I'd hate to see my parents taken advantage of. The adjuster wants this all to go down in person in the parking lot of a random shopping center in two days. Any advice would be appreciated! Hopefully this is just standard practice nowadays and I'm wrong. [link] [comments]  |
| The IRS release further guidance regarding $10,200 for those who already filed Posted: The first refunds for those who filed taxes before the bill went into affect are expected to be made in May and will continue into the summer.
Edit: here is the link to the full press release - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may [link] [comments]  |
| Posted: My older brother is 33 and has no savings, living paycheck to paycheck and had just had his car repossessed this morning. He lives with me in a house I own and I charge him pretty low rent so he can start establishing himself but he's clearly upset with the situation, living with his younger sister and feeling financially stuck. I even stopped charging utility bills to him since I make about double what he earns and I'm trying to help as much I can. He told me today his credit was in the 400's since he was contemplating trying to refinance to save his car from going up on auction which was startling for me to hear. I know he is also in considerable student debt from which he has no degree to show for it. I really want to help him but not sure how aside from lending him money which I want to avoid since he is also indebted to personal loans. Any advice would be super appreciated. He works in TSA which doesn't pay super well but is working overtime often to help his situation. This leaves little room for a second job. [link] [comments]  |
| 35 y/o - and not really entirely sure what to do about retirement Posted: Hey all - I recently turned 35, and I have to say - I don't feel confident at all with what I have saved for my retirement so far. Part of the reason was because when I was younger, didn't want to put too much money into the 401ks, and in the past, some jobs didn't even have a 401k, so right now - I just don't feel like I have enough, between my 401k, Roth IRA, and Rollover IRA account. I'm at a pretty good spot financially CURRENTLY, thanks to YNAB, and only real debt I have is my mortgage and car. Married with two young kids. Between my ROTH IRA, my Rollover IRA, and my 401k (which i will put into a rollover, because I just recently switched jobs), I have roughly $61,000. My new company has a 401K - with matching - but I guess my question is, should I only put in what they match, or should I try to maximize the contribution to the $19.5k as best I can? As we are now, we are lucky that we can probably afford to maximize my 401K. The suggestion here is that I should be at $250k by 40 - which I'm definitely not on track to hitting. My wife (same age) is at a slightly better spot than me (with roughly 110K in savings between various retirement account), but her current job is at a contracting position for a FAANG company - which offers a 401K, but no matching at all. We're definitely going to do the Traditional IRA > ROTH conversion for 2021, but should I be trying to maximize my 401k contribution? Anything else my wife can be doing on her end other than the IRA? [link] [comments]  |
| I got scammed. Now I feel so much guilt and self-blame. How to recover from it? Posted: Today I got scammed for a lot of money. It's like two average salaries combined, the amount is significant in my country and it was half of all my savings. The scam itself was very primitive and I can't stop blaming myself for being so stupid for falling for it. I can briefly describe this story, omitting many details, because otherwise it would be a huge post. A man called and told me that he was a policeman, that somebody took out a loan in my name, that there is a police investigation going on. He asked a lot of questions to get info from me and to pretend that he was a real police. He said that soon I would need to come to police station, but in the meantime he would put me in touch with a bank representative. And after that he transferred the call, and some woman started to speak with me. She asked me a lot of questions as well, and told me that I have to repay a loan that another person took on me. And she said that the bank would compensate my expenses. They told me that I can't trust any other bank stuff because they might be the ones who gave my data to scammers. Long story short, I fell for it and paid the money. After that they wanted to scam me for some more money, but I realized that something strange is going on and stopped talking to them. Went to police, told everything to a detective, she will try to investigate (but I'm sure that it's unsolvable). After that went to my bank and learned that they can't return the money because I haven't paid some anti-scam insurance. And not I can't stop thinking about this situation, about how unbelievably foolish I was. It was so obvious all along, but I continued to believe them and transferred money to suspicious accounts. I've lost all self-esteem and I don't know how I can do serious work in the future if I can be fooled like a child. And am ashamed to tell this story to my acquaintances, because they will see what an idiot I am. Not to mention how many things have become too expensive for me now due to the fact that I have lost half of all my savings. Has anyone here faced a similar situation? If so, how did you get through it? [link] [comments]  |
| NC Dept. of Revenue - 7 years later Posted: Pretty sure I have few options here, but thought I would check with all you brilliant individuals to be sure. I filed my taxes around a month ago, and like the last few years I got a small state refund of under $100. Unlike last year, instead of a check I got a letter saying it was garnished for unpaid dues. I called them today and a very rude person told me I owed them over $600 due to unpaid taxes from 2013. I owed a little more than $1000 that year and set up a payment plan. I guess I must have missed around $50 from that, and did not realize filing your taxes did not update your address with the NC DOR, so I never received any notice by mail. Now I am being told there are over $500 in penalties and there is absolutely nothing I can do. I understand paying what is owed, but that is a crazy amount of fines. They claimed to have sent a lot of notices, but I never received anything. I also continued to get state refunds after starting around 2015 when I moved from the restaurant industry to IT. Am I basically out this money? Is there anything I can do? The woman I spoke to today was mean, acusatory, and started mocking me towards the end so I hung up on her. I plan on calling back tomorrow to complain about the agent and request documentation. She made it clear my only option was to pay the lump sum. Any advice is welcome. [link] [comments]  |
| My dad just got scammed via his Amazon Fire Stick Posted: My dad was fooled by a number on his new Fire Stick, a 1-800 number. It said he HAD to call them in order to get his Fire Stick working. Then, they tricked him by saying there was a "security breach" around his area, and convinced him that they needed his security information and all his credit card information. They had him buy $100s of Xbox cards as a "fake purchase", but he believed them due to the number being from an official Amazon device. We have gotten this sorted out already, but please be careful. This may have even been partially my fault, they mentioned something about uninstalling an old coin flipping app on my old phone, saying that might have been the cause of the security breach (?)... no clue what this had to do with anything, maybe I installed a phony app that requested a bunch of permissions I didn't realize at the time(?), anywho, please just be careful. UPDATE: Apparently his Fire Stick lead him to an official Amazon website, it was just amazon.com/code, it had him enter his code on his Fire Stick, then it had him contact a fake phone number. He says it was all on the official website. [link] [comments]  |
| IRS sent my parents and I 1400 despite being an independent now. Posted: So to explain the situation, this year was my first time filing taxes as an independent. Since I filed as an independent I received my stimulus check today. The problem is that the IRS ALSO sent my parents the extra 1400 the IRS gives per dependent, which according to their 2018/2019 taxes used by the IRS I still was. My parents haven't filed their 2020 taxes yet so their past taxes were used instead. Will I need to do something to fix this or is this something I let sit until the IRS eventually deals with it themselves. [link] [comments]  |
| My mother got a debt notice in the mail, I'd like to ask how I might check if it is a scam. Posted: So I'm not super good at understanding credit and banks and stuff so bear with me. We got a letter in the mail from Midland Credit Management, Inc. It says it is a Pre-Legal Notification saying she has a debt of $7,448.57. The original creditor is CAPITAL ONE, N.A. It is highly probable this is legit and she has racked up this huge debt within the past year without telling any of us, but I would like to know how to verify it. I've asked some friends and here are the ideas we have so far:
I'm not sure how to go about number 2 honestly. What address do I actually look for? I've also been told that if it was a good scam then they would put the actual address. Like none of these addresses or phone numbers I'm looking at seem to be matching up, but I don't know if I'm looking at the wrong ones or if I'm just dumb. My mother is not home at this moment so I suppose I can't do 1 and 3 right now. I have also been told to just leave the rest of my family and let them handle it themselves, but I would like to disregard that option for now. I will try to provide any information within reason. Edit for more info: it says the subject is Capital One Walmart Rewards, if that makes any difference. [link] [comments]  |
| Max out HSA with one month to go before delivery? New dad questions.. Posted: Hi! Big changes in my life these last few years. Got married to my best friend, bought a house, and knocked her up. Also accepted a new role at my company that pays $75k base and up to or over $160 for on target earnings if I hit my goal. I have been contributing 20% into retirement, 10% into a fidelity 401k aggressive growth plan and 10% into a Roth IRA. We also have an HSA that I have been contributing to, although, now I am thinking not enough.. This quarter went exceptionally well at work and I am looking at a lump sum payment of between $23k and $30k before taxes. I get paid out 75% when a client signs and another 25% when they go live. Our due date is mid-April and I want to pay for medical expenses in the most prudent way possible. Naturally it didn't occur to me to max out my HSA until just now. Can someone pay a large [$10k or so] lump sum amount into their HSA pre-tax and then pay for medical expenses using that pre-tax money? Would it make sense to increase my contribution into retirement prior to my commission payment? Thanks financial advice! [link] [comments]  |
| How to pay off my student loans with extra income Posted: So I'm in a weird position right now. During the pandemic I was able to make two incomes for the entire year. That is coming to an end and I will be back to one income. I managed to save $50,000 after all credit cards paid off and expenses entirely expect my student loans. I have $78,000 in student loans and over the next 2 months with the final days of my double income I can reach that exact amount saved. What is a better alternative, hold on to that money and invest it while paying monthly... are pay it all off at one time and be entirely debt free? I have made about 16% return on my money I have been holding in an index which made me question if I should drop it all into my loans. But... $78k paid in one day might make me Fucking cry from joy that I was physically able to pay off my loans. I'm not even 30 and my goal was to do this before 30 unlike my own parents who literally just paid off their own loans at age 55. [link] [comments]  |
| Masters Degree within Company's Tuition Reimbursement Posted: Has anyone here taken a masters program that did not exceed their company's tuition reimbursement? My company has a tuition reimbursement program that covers $5,250/year. I'm in my 30s and currently working as an engineer in California. I want to explore if this is a possible plan for me. My goal is to work towards a Masters degree, while not incurring much more debt. Would love to hear your experience on how long it took you and any suggestions you may have. [link] [comments]  |
| Posted: Need some advice, please. My husband died last week. We were both on the mortgage. When I called to let the bank know that it will need put in my name only, they said I'd have to refinance. Do I have to? My interest rate is currently 3.25, which is pretty good. I've only been in this house for a year and 4 months. Also, the mortgage itself was modified after my husband could no longer work and went on disability. I can't afford for it to be re-financed at 127k instead of the modified 106k. I don't know how this works. [link] [comments]  |
| Should I pay off my truck 2.5 years early? Posted: Is it worth it to pay my truck off 2.5 years early with an original payoff of October 2023? Or should I keep the money in the bank? We just went from 2 incomes to 1 by choice. We have 40k in the bank, I owe $14,500 on my truck at 3.35% interest and our mortgage is about $2300/month. The $500/month I'm paying right now would certainly help what we walked away from in income and cover about 1/4 of the mortgage. Our saving account interest rate is only around 0.5% so overall I'm only saving about $800 or so in interest by paying my truck off early. We'd still have about 23k leftover after paying mortgage on 4/1 if I pay my truck off on that day Thoughts? [link] [comments]  |
| 23 YO, self employed, and I have no clue what I’m doing, lol Posted: So, I'm self employed, as a courier, making between 52k to 65k (depends on how good my days are, and you know, whether I wanna work or not) My fiancé and I plan on finding a place to rent sometime this year, as long as something affordable comes up. I've stated saving 40% of my income, and it's just sitting in a bank account right now. Financially, the future is unclear. I don't know how much of this I'm going to need, so I don't want to put ALL of it in something long term. I guess I just need some advice on what my best approach would be [link] [comments]  |
| Help Me Figure Out This ID Theft Scam Posted: Redditors of Personal Finance, Unite! So, I have been the victim of Identity Theft, but the thieves haven't succeeded yet in stealing anything from me. Here is the story so far...
Here are a few things I don't understand:
Additional Info: If anyone can give me some insight on what is happening here and what their trying to achieve, I would appreciate it greatly. Thanks! [link] [comments]  |
| Posted: Hello everyone, I'm trying to open my first Checking Account. I tried opening a Checking Account online with Wells Fargo, got almost all the way through the process (last step would have been ToS and Privacy agreements), but then received this message.
Here is some background and what I've tried:
I have never had any type of Credit, Loan, Bank Account, etc. I was curious what a 'blank Credit Report' looks like, and figured it'd be good to make sure no one had been using my credit, so I requested my 3 Credit Reports from AnnualCreditReport. All 3 were not able to verify my information (probably because I've got no credit history). I also tried Credit Karma with the same issue. I did not request my report from ChexSystems, but I would expect that to have nothing as well.
So I now try to open a Checking Account online with Wells Fargo, and get the message shown above. I suspect this is because I have no credit/banking history for them to generate questions from, or verify my information against. I tried looking around on Google and Reddit, and pretty much the only thing I could find was frozen credit can sometimes cause this (which mine shouldn't be).
I tried calling Well Fargo's 1(800) number and explained the issue. They asked for my SSN, and First/Last name, put me on a brief hold, and said they weren't able to verify my information either, so I'd have to go in to a branch.
I'm trying to avoid going out as much as possible with the way things are right now, so I'd like to be able to open a Checking Account online. Does anyone have any advice on these or anything else?
I've been around this sub enough to realize people don't care for Wells Fargo and other big Banks. While I welcome any advice, I do prefer a big Bank or local Credit Union so I can deposit Checks and Cash at an ATM.
Any thoughts/advice is appreciated! [link] [comments]  |
| Private student loan company keeps annoying me after dismissing a loan. Posted: Hello, Ill make this short and maybe I can get some good advice. Long story short, my brother died last November. When he died, I start answering his phone to start solving administrative issues and informing his friends. I noticed this student loan company was calling him using my name. I wont mention the name of the company. Apparently he had a loan under my name and he was the cosigner. At the time i informed them that loan was made without my concern. They said we will start an investigation, they made me pay an affidavit and send them lots of documents. I gave them everything they needed. In the process of getting all that I did the police report they ask and the police officer told me, stop helping the company tell them to @$#%@% off. Then When I got the report and all the information I decided to check my credit reports, the loan was there!!!! I send Experian, Equifax and Transunion the info and report. also, I sent the report and some last documents to the company. They decided somehow I knew and since then they don't stop emailing me, mailing me and calling me. told them The credit bureaus deleted all related to the loan. Told them and they now keep calling me pretending i own the monthly payments and due dates and blah blah blah Thanks for reading. Any thoughts? Now that the bureaus removed the account, is there another way they can mess with me? If i am wrong correct me, but now that loan is only real to them? Should i just block all upcoming emails related to that company? Thought of changing the number but they for a different number each day. Any other thing I should do? Should I worry? note: Someone told me to post here instead of studentloans subreddit. [link] [comments]  |
| App for financial planning that doesn't require account? Posted: I like keeping track of my income/expenses and usually find myself running numbers on a calculator throughout the week and making notes of how much is going in and out Figured there must be an app to simplify this sort of thing with a nice UI. That's all I'm really looking for But most apps I find ask to link your bank account etc, and I'm not looking to have all my financial activity mined and sold, big no thanks. I also spend cash when I can so I'd still need to manually input data and transactions, which I don't mind doing I'm just looking for a nice UI with no sign up required that I can log info into that will be cleaner than my notepad or a spread sheet Monefy kinda does this but I'm having trouble with it as it seems to be a true "budgeting" app done month by month, without really giving you a snapshot of what you currently have in total. I'm self employed with multiple income streams so my income can vary widely from month to month, which is kind of why I want an app to help me keep track of how much money is coming from where and how much money is in each account I don't need an app that does the work for me, just something that makes it easier to keep track [link] [comments]  |
| Grandpa died, helping Grandma cash out his stock. Running into W-9 request form roadblock Posted: So Grandpa just passed and he had $3400 worth of stock in a company called Computershare that Grandma is in the process of transferring into her name so that she can sell it. The company sent some paperwork which we were able to figure it out with the exception of the dreadful W-9 Request Form. The form states: "The IRS requires us to withhold taxes for the applicable rate of backup withholding for US persons without a W-9 tax certification who are not otherwise exempt. Parties acting as disbursement agents, such as Computershare, must withhold and pay to the IRS the applicable tax rate of such payments under certain conditions. (Backup withholding) Payments that may be subject to backup withholding include interest, dividends, broker and barter exchange transactions and royalties. Supplying us with your correct Taxpayer Identification Number and signing this form will generally allow you to receive your payments without being subject to backup withholding. Failure to supply your TIN or supplying us with an incorrect TIN could result in a $50 penalty being assessed by the IRS. Receipt of a completed Form W-9 will discontinue backup withholding unless otherwise directed." The form then provides a series of "Exempt payee codes" but none of these codes describe my Grandmother's situation: she lives solely off of social security and therefore does not file taxes. My strategy is to have her list her SS# on the form and sign it with a description of her financial situation attached on a seperate piece of paper. Is this a sound strategy? I'm pretty sure she doesn't have to pay taxes on this since but there is no poverty exemption code. [link] [comments]  |
| Posted: Hi, I'm 19 and I started working at a local Job that pays $10.30/by the hour. I have a Discover Checking and Savings account. I have a Roth IRA with Fidelity. Now I'm trying to figure out figures to synergy's between Credit Card Utilization Rate and Discover Debit card filling in with some added cashback bonuses. These two work in tandem between here and there statements/payments. I work 20 to 25 hours a week. I have my needs : Medical Rx - 65 a month , Gym membership - 10 a month , Diet - 90 a week. My savings / Roth IRA - 20% savings of gross income, 15% of gross income Roth IRA conservative investments. So the question here Is how much of a credit line should I open up for a Discover It Secured Credit Card? How should I manage my statements to pay in full before the statements close. And furthermore just how to organize and manage these methods to wrap my head around financial consistency and stability. I already have some figures for Net pay per week and per month. This contributes to my leisure amount to do with as i please (likely into my savings) . My next step is to get the just of Credit vs Debit Lee-ways. -Thx [link] [comments]  |
| Should I sell investments to pay down student debt? Posted: Just curious on everyone's thoughts. About $35,000 in student loans right now, roughly $12,000 in stocks. Not sure if it's better to let those stocks try to grow over time or get rid of debt while still young. Appreciate the help! [link] [comments]  |
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