Personal Finance Weekday Help and Victory Thread for the week of May 03, 2021 |
- Weekday Help and Victory Thread for the week of May 03, 2021
- Should I fire my buyer’s agent
- In Denmark are going to introduce negative interest for bank deposits over 15k. What should I do?
- Has Venmo asked anyone else to confirm their identify (SSN, address etc)?
- Contributing to 2020 Roth IRA Today, After Having Filed Taxes
- I received an EOB for $3400 for medical services I’ve never received
- Receiving letters from an old employer (9+ years) claiming I owe them money because they calculated my healthcare premiums incorrectly
- My mother's check to pay her credit card bill was cashed but not by the Credit Card Company
- Psychologist going into private practice- terrified of funding my own retirement.
- ~30k in debt with fair credit- I feel like I'm drowning. Are there better personal loan options?
- Rental home tax question about property/mortgage tax
- Trouble landing the next job, should I consider an MBA for 30k?
- Should I buy a new car, used car, or certified pre-owned? My 08 Honda Civic costs more than it's worth to fix the engine crack.
- Educate me on the benefits of Solar
- Community preference on refinance?
- 28, feels like I’m screwed financially long term. Not sure what to do or if my situation can be salvaged.
- Mortgage lender states my credit score is 40 points less than what I see
- Better to buy new or used car, due to used car prices?
- In Indiana, out of PTO, don't qualify for FMLA, currently working with doctor to figure out health problems.
- How to split first five checks up, and help me develop a budget to stick with?
- Will a soft pull credit check affect my refinancing that's in progress?
- Moving from USA to Australia…. really unprepared
- Waiting on UI appeal and need advice
- Offline transfer
- Pay an additional $100 per month toward a 30 year mortgage or put that $100 in an index fund?
| Weekday Help and Victory Thread for the week of May 03, 2021 Posted: 03 May 2021 04:00 AM PDT 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]  | ||||||||||
| Should I fire my buyer’s agent Posted: 03 May 2021 08:55 AM PDT I'm looking to buy a house and am working with an agent. I've lost out on several multiple offer situations already and am in a competitive market. On the last offer the agent put down the wrong amount in the offer contract which was 30% higher than what I told the agent to put. Thankfully I caught it before signing but I feel like this was such an egregious mistake that warrants having to fire the agent. Am I overthinking? [link] [comments]  | ||||||||||
| In Denmark are going to introduce negative interest for bank deposits over 15k. What should I do? Posted: 03 May 2021 12:21 PM PDT I [30M, EU expat] am working full time as a researcher at the university, which pays approx. 3k $/per month. My contract is going to be renewed till next year, and maybe for a year after that. Afterwards, I am planning to transition from academia to industry, but I still need to figure out exactly what I will do. My wife [28F, Asian Expat] is finishing her master, and she is currently doing an intership in a company that pays approx. 1k $/per month. Previous intern at the company got hired when they graduated, we hope that she will also be asked to join since her supervisors seem to be quite happy with her. Currently we spend 2k $ per month between rent, utilities, food, etc. We are able to save more or less 1k $ per month without problems. We have approx. 40k in savings, no debt. In June the danish banks are going to introduce negative interest for deposits over 15k, so I don´t like the idea to give away money that could be invested somewhere else. We are thinking to buy a house here. The rent in Copenhagen are crazy high, and paying a loan is more or less the same amount of money. For the downpayment, we are thinking of getting financial help from both our families. But I am bit unsure. Our situation is not super stable on the long term here in Denmark and I am wondering if it would be unwise to get a loan [I have no business knowledge - unfortnately] Alternatively. we could invest in the stock market, but we have 0 experience about that. What do you guys would recommend? House, stocks, other ideas? [If I am missing any detail.. just ask!] [link] [comments]  | ||||||||||
| Has Venmo asked anyone else to confirm their identify (SSN, address etc)? Posted: 03 May 2021 12:46 PM PDT Got an email from them that I should confirm my identity through the venmo app. When I go to the venmo app I'm getting asked details like the last 4 digits of my SSN, my name, DOB. [link] [comments]  | ||||||||||
| Contributing to 2020 Roth IRA Today, After Having Filed Taxes Posted: 03 May 2021 05:02 PM PDT After opening a Roth IRA account, I saw that I still have the option to contribute to 2020 Roth IRA. If I contribute today (I already did my taxes for 2020), do I have to do anything other than just contribute? [link] [comments]  | ||||||||||
| I received an EOB for $3400 for medical services I’ve never received Posted: 03 May 2021 07:02 PM PDT I'm a 21 year old male college student. I just recently received a 3400 EOB for medical services I never got in January. The EOB then states that my medical plan (Providence) covers none of it. I spoke to some people and they said it may be a scam. The EOB looks legitimate but when I called the listed number it asked for the last four digits of my SS. Now I know that isn't a good sign. Additionally, the expense also did not show up on my credit report. What do you folks think is going on? [link] [comments]  | ||||||||||
| Posted: 03 May 2021 10:35 AM PDT Old employer recently sent me a letter to say they incorrectly calculated my medical insurance premiums incorrectly and want me to reimburse them for the difference. It's not a lot of money but sounds crazy to me that they would only realize this almost 10 years later and try to collect. Any advice would be appreciated! [link] [comments]  | ||||||||||
| My mother's check to pay her credit card bill was cashed but not by the Credit Card Company Posted: 03 May 2021 06:21 PM PDT So my mother has been paying her credit card bill by check, and she sent her payment in one month and the money was withdrawn from her account, for the check, but her balance did not go down. The CC company says they did not cash the check. When I contact the bank, they say is is IMPOSSIBLE for anyone to cash the check except the CC company, so they must have the money. We have sent disputes to the CC company. They first responded by saying no, the check was not cashed. Then they applied the value of the check and said that they will reduce the balance while they conduct an investigation. Just today they have once again charged the amount for the lost check. I guess they didn't find it. Any advice? I'm at my wits end. Edits: I have asked for the cancelled check copy. On the back there is no endorsement, nothing but what is normally printed on the check. All I have is the date and time the check was cashed, my bank is just saying no one but the company could have cashed this. An affidavit of non-receipt was filled out and filed but it is expired now and I don't even understand its function. [link] [comments]  | ||||||||||
| Psychologist going into private practice- terrified of funding my own retirement. Posted: 03 May 2021 01:34 PM PDT Hey all, I'm new to this subreddit. I'm going into a group private practice with other psychologists. It never bothered me that my income will vary month to month, and I can be on my partner's health insurance so I'm not concerned about that either. For some reason, I'm really losing sleep over the idea of funding my own retirement. I tried to look things up online, but having studied the human mind for so many years I've never had to take the most basic class on business or finance. So I feel like I don't understand what I'm reading online, even the YouTube tutorials I'm so lost. Honestly, I'm terrified that even if I put away $20,000 per year (I'm 31 now), I feel like that won't be enough by the time I retire (my family seems to live well into their 100s haha). I'm sorry if this is such a basic question, but this is an entirely new world for me, what do people do so that they can live comfortably and not be in fear of not saving enough for retirement? I also don't know much about investing, but I do know that I am someone who doesn't like to take financial risks, so whatever options exist would have to be very low risk. I'm thinking of also getting a financial advisor when I start to help ease my mind. [link] [comments]  | ||||||||||
| ~30k in debt with fair credit- I feel like I'm drowning. Are there better personal loan options? Posted: 03 May 2021 01:09 PM PDT I have about 27,000 of debt that was original spread out across several credit cards. I racked it up trying to pay for college and helping my family with their own financial issues as well as just poor money management. It was own my fault that the debt accrued and I blame no one else. 3 months ago, I took out a personal loan with UpStart in an attempt to stop getting charged late fees and having a bunch of different payments. I consolidated all my debt with that loan so that my credit cards could finally be at $0. I have fair credit (about 660) as a result of the very high credit card usage. I don't touch my credit cards now, I eat at home, I save my money and don't buy frivolous things, etc. My credit rating is taking a long time to inch upwards though. I make about 50k a year and my loan payment is around $800/month. I've made 3 payments so far and my principal balance has barely moved. I'm so frustrated, I understand I have a very high APR as a result of my credit but I just feel like this is insurmountable. I'll keep paying it but I've paid over $2,400 into the loan and the principle has moved maybe $600 down. My other expenses mean I can't really put more toward the loan than this minimum, although I will be able to put a small lump into it (~5k) as a result of side work soon. My family cannot help me, I am in the process of applying for other jobs to try and get a higher salary but that's a long process. According to the bank website, I might be able to borrow about 4k from my own vested money in my 401(k) and pay it slowly back paycheck by paycheck but that also just seems like a bad idea. My credit prohibits me from qualifying from personal loans from banks or establishments with lower APRs so I feel like I am not making any progress here. It feels like I'm drowning, I don't know what to do. Please help me if you've got literally any advice for me. I will talk to anyone, any bank, anything. I am legitimately trying so hard to make my finances healthy again but I feel like so many things are working against me right now. Thanks [link] [comments]  | ||||||||||
| Rental home tax question about property/mortgage tax Posted: 03 May 2021 04:56 PM PDT In the middle of 2020 I moved and started renting my old house. When I enter the property/mortgage tax into the itemized deduction section of TurboTax, it doesn't make a difference because the standard deduction is still most helpful. Therefore it seems I should enter the property/mortgage tax as part of my rental property section of TurboTax. If I rented the property for only 6 months in 2020, so I only put in those 6 months of property/mortgage tax into the rental part of TurboTax? Or since I am not putting it into my home owner section of the itemized deductions, can I therefore deduct the whole year of property/mortgage tax into the rental section? Hope that makes sense, thanks for your help! [link] [comments]  | ||||||||||
| Trouble landing the next job, should I consider an MBA for 30k? Posted: 03 May 2021 03:31 PM PDT I've poked through a lot of "is getting an MBA worth it?" posts on here from the past. I've noticed a trend on the MBA advice, including:
So knowing that, here is my situation: I am 33, married, homeowner, no bad debt. Finances ok, cc paid entirely on-time monthly, cars owned, etc. I am a Marketing Manager currently, three years experience now. I was a Graphic Designer / Digital Marketer for three years prior; I started the Design job fresh out of college. I've noticed I have hit a wall when applying for the next job in my career path (mostly Marketing Manager/Director at larger companies). I am landing interviews, but I can tell I am at the bottom of the interviewing candidates from an experience standpoint, despite the salary not being much higher than my current salary. My education was in art technically, and my current industry is very niche (B2B foodservice distribution). My local college has a dirt-cheap online MBA (30k all in), and I have a huge amount of downtime at my current job. I could probably do 80% of the "15 hours" a week needed to get a degree online at my job. I think the MBA will help me pivot, even just within marketing industries or general management / business-type jobs. For those of you farther on their career paths and recognize this career plateau, grab that MBA while I wait or lean on my work experience and just keep applying / save the money? [link] [comments]  | ||||||||||
| Posted: 03 May 2021 01:29 PM PDT English isn't my first language, please bear with me. My 08 Civic, bought used 3 years ago with 87k miles on it, has an engine crack and leaks coolant. The car is very well-maintained and the first owner passed down all the maintenance documents to me. It now has about 101k miles on it. (All of these are not relevant anymore, I know.) The car overheated yesterday and that's how I found out there's a crack on the engine block. The car is 3 years past Honda's extended warranty (they know their engines have defects), and from what I've researched online, it's going to cost at least $5-7k to replace the engine block. By "replace", it probably means the dealership is going to swap my engine with another used engine from a newer model that doesn't have the defect. My car's current mileage will then become irrelevant. The good thing is, I'm working from home and I'm in no rush to get another car, or get my car fixed. I can wait for good deals for months, and I can drive my gf's car during the weekend. I'm planning to buy a Toyota Corolla/Prius Prime, unless it is more reasonable to fix the car. I looked at some options last night, and these numbers are from the dealerships in my area. There aren't much on craigslist:
A used Corolla is so expensive it makes me wonder if a used car is even worth it. Here's my situation:
Getting married, buying a house, and not trusting other drivers are my main issues - I do really want to have a place for myself, and this is the worst time for my car to fail me as it heavily affects my budgeting. Hell, I don't even have a place to store my tools or work on cars, I literally had to work on my car in front of the house on the road...but a used Toyota is too damn expensive I really don't know if that 5-10k is worth saving. [link] [comments]  | ||||||||||
| Educate me on the benefits of Solar Posted: 03 May 2021 07:48 PM PDT I'm looking to understand the economics. I feel like I'm missing something. I keep seeing more and more people getting solar panels installed on their homes. I've never sat for a presentation, but most of the online resources basically seem to say that it would take about 10 years for to see any real return on your investment, and even then it's a relatively small amount when you consider how long it takes to get there. I just can't understand how it makes any sense. [link] [comments]  | ||||||||||
| Community preference on refinance? Posted: 03 May 2021 07:48 PM PDT Rates are looking pretty low, so I am thinking about refinancing. I am only 1 year and 3 months into this mortgage, so I think this is the right time. It is a 30yr fixed @ 3.75% and had no points. These are the rates I am getting from Better. I also have another quote from a different lender for 2.875/2.945. Anyway, I wanted to know what everyones preference is for balancing your rate & points. I plan on keeping the property long-term, because it will eventually turn into a rental, so I am leaning towards lower rate + points. But maybe there are other factors I am not considering? Also, I should mention that the 15-yr rate is at 2/2.4% apr(4k in fees). Highly attractive, but thinking it might still be better to get the 30yr and pay extra monthly if i really want, just to keep DTI lower and give a cushion incase I can't pay that high. [link] [comments]  | ||||||||||
| Posted: 03 May 2021 03:59 AM PDT 28 M feeling like I'm financially screwed long term. Not sure how to approach my financial future I make a little under 2k a month working a part time job. I've been looking for full time work for what feels like forever, however I've yet to land something. I feel like I'm miles behind in terms of securing my financial security. My current company offers no benefits. I'm shoving away about $100 a month into a vanguard account which is at $300 total. I have about 3k in Bitcoin that I purchased a few years ago just to see what would happen. I'd like to be able to have a better plan outside of just saving a dollar here and there to throw into etfs but I'm not able to save much given my low income. I understand that I need to invest now to take advantage of compound interest. At this point time feels like it's working against me instead of for me. I'm approaching 30 with almost no savings or assets. What can I do to salvage this? [link] [comments]  | ||||||||||
| Mortgage lender states my credit score is 40 points less than what I see Posted: 03 May 2021 05:20 PM PDT Hi, My mortgage lender just checked my credit and stated it's 40 points lower than what I see on usa.experian.com, chase, amex, and capital one. Can someone please inform me if this is expected, common, or inaccurate? I was in shock when they mentioned my credit score was 40 points lower than what I see on multiple known sources. [link] [comments]  | ||||||||||
| Better to buy new or used car, due to used car prices? Posted: 03 May 2021 07:28 PM PDT The transmission on our 2012 minivan is going, and we've been browsing for a replacement, thinking we'd get a nice crew cab truck since we just bought some land. Holy crap the price of used cars right now! I'm seeing places sell 10yo trucks with 181k miles for $25k. Our budget is less than 25k, so we've shifted our browsing to include sedans and SUVs, but still not seeing much exciting. I am seeing that I can get a new version of some of these cars for only 2 or 3k more than the 2017 model. I know generally buying new isn't the best financial decision because of depreciation, but does it make more sense now since used prices are sky high? [link] [comments]  | ||||||||||
| Posted: 03 May 2021 07:34 AM PDT As stated above, I am now out of PTO and I have only been with the company for 6 months so I don't qualify for FMLA. I am afraid I will lose my job due to my health issues because I can barely work and most days can't work at all due to possible Crohn's disease. My job requires me to be in scrubs and sterile gowns for 6 hours of my 8 hour shift. This just hasn't been possible with the constant diarrhea, cramps, intestinal pain, fatigue and nausea daily for the last few months. We don't get unpaid sick days. It is PTO and when you run out you get penalized for missing work. I need my company health insurance to afford figuring out if I have Crohn's disease due to the tests and medications. However, I think I might get fired soon due to my constant absences in recent weeks. I haven't been formally diagnosed with anything so I don't know if I can qualify for our company Short Term Disability with the Hartford. I am a recent college grad with $8,000 in savings. I am very worried for my financial and career future. Does anyone have any advice or insight that might help me during this time? I don't want to get fired. TL;DR I am a 23 year old male, recent college graduate working at a company for 6 months in Indiana and cannot work due to health problems. I have no formal diagnosis yet but have met with doctors. I am afraid of losing my job and health insurance. Any advice? [link] [comments]  | ||||||||||
| How to split first five checks up, and help me develop a budget to stick with? Posted: 03 May 2021 08:20 PM PDT Just started my job where I'm making around $43 an hour. I wanted to start budgeting for certain things: paying off my credit card debt ($2000 spread across 3 cards), building $10k in emergency fund, saving up $18-20k for a car, $5k-$8k for an engagement ring, and maxing out a 403(b) after reaching emergency fund goals. I am 28 years old with no real expenses (living at home with mom and dad fortunately). I have a paid off car that is relatively good on gas. However it is small, and I need much bigger space hence the goal of saving up to upgrade from an econobox to an SUV (2004-2009 4runner). Minor expenses total ~$125/month. What would an ideal budget look like for me? Ive been getting by with 500 for every 2 weeks for the last 3 years while I was back in school. I worked and busted my ass in a STEM program, and landed a $90k job right after graduating. My plan is to kind of live around that with a little bit more added. Everything else will be saved/invested. [link] [comments]  | ||||||||||
| Will a soft pull credit check affect my refinancing that's in progress? Posted: 03 May 2021 08:19 PM PDT I'm in the final stages of refinancing my condo and want to check my credit. Will a soft pull affect my refinancing at all? [link] [comments]  | ||||||||||
| Moving from USA to Australia…. really unprepared Posted: 03 May 2021 02:53 PM PDT I'll keep this part short. My wife is Australian and has been living with me in the USA for 7 years. I'm getting out of the military this year (not retiring) and we're selling our home, cars and moving to be close to her family. I'm 33, she's 37, we have two kids, all our visa and citizenship stuff is handled. I'll also never surrender my American citizenship, it's out of the question. We have a savings account with $50K, I have a vanguard investment account with $70K, I have $120K in my TSP (government retirement account) and we'll be selling our home in California and netting $200K. I started dirt poor (not an exaggeration) and crawled my way to the middle class thru the military by saving most of my paychecks. I've set up our lives very comfortably in the US and I really have no idea how to transition to Australia? Up until now (we're moving in July) I was planning on just withdrawing a lot of cash and bringing it with us. But I'm not positive that's going to be the best move. Does anyone know of financial planning/tax advising services that specialize in stuff like this for middle income people who are not the uber rich? I'm not sure what to do with my retirement, index funds, $250K from my home sale and savings. Is all of this stuff taxed when I leave the country? Is it taxed when I get into Australia? I've done a little bit of research but haven't found concrete answers. I really, really, really appreciate anyone's advice and help with this. [link] [comments]  | ||||||||||
| Waiting on UI appeal and need advice Posted: 03 May 2021 06:43 PM PDT So my SO was laid off after only a few months at her new job. She filed for UI benefits but was denied due to her income not qualifying which was weird since she made $500/week. When we checked, her income at our church all last year was not factored in. After talking to a couple people and a few Google searches I've come to realize churches are exempt from paying into UI and so that's the reason her income was not counted. So we appealed and a few people at the Department of Workforce office have told her that since she has a w2 and not a 1099 she may be able to get it overturned. So does anyone actually have insight to if this is true or not? She is a few months pregnant and her employer has not given her a RTW date or any info. Should she look for another short term job before the baby or ride it out and hope her appeal is successful? Will she even get back pay from the initial claim date? Is it really completely up to 1 person to decide and make a judgment? [link] [comments]  | ||||||||||
| Posted: 03 May 2021 08:26 PM PDT So I have a family member who lives in emirates and wants to send me money. He keeps mentioning to me some offline transfer and I don't understand what "offline transfer" means or what it refers to. What is the best way to transfer money internationally. Also I really love dealing with AMEX (American Express.) Do they provide any international transfers? I tried FX AMEX and they refused or rejected my application I assume because it was under a domestic/local business address. regardless any tips and information will be helpful. Yes I have browsed reddit for a solution im just really bad at skimming through, so bear with me even if the solution is a click away from me and i can't see it. Thank you! [link] [comments]  | ||||||||||
| Pay an additional $100 per month toward a 30 year mortgage or put that $100 in an index fund? Posted: 03 May 2021 06:13 PM PDT Just wondering which would be the better play in the end [link] [comments]  |
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