Personal Finance Progressive Auto Insurance Just Doubled my Rate. 7 years, zero claims. |
- Progressive Auto Insurance Just Doubled my Rate. 7 years, zero claims.
- I haven't had a raise in four years and haven't had a cost of living increase in two years.
- My dad died, my step mom only has $60k total saved for retirement at 58, she plans to retire next year.
- Out-of-the-box ideas on how to own a traditional or non-traditional home in the USA with insane real estate right now?
- Aren't target date funds too conservative once you get anywhere near retirement?
- Debt Collection Lost Case
- Check your monthly statements for recurring charges. Not everyone sends you emails.
- Apartment complex wants to increase rent by more than 10% to renew for another 12 months. Is there any hope in talking to them to try and reduce the severe increase?
- $8,000 Bill for Psych Ward
- Buying a house in this market. I know, I know, but I’m running out of time and need advice
- 22 years old. What should I do to build my wealth now?
- 72k in money market account at 0.050%
- Cousin died, close to paying off his house, his wife wants to refinance. Please advise.
- Do people still sign the back of their debit cards?
- My mom has debt from 20+ years ago and no one said anything.
- Refinance worth it?
- As a 30 year old that has nothing in a retirement account but is about to create one, is going 100% stocks with no bonds too aggressive?
- Using Affirm to purchase a vacation package
- I am trying to go on a very strict budget to save for the future.
- Collections debt
- Fraudulent debit card use
- Is it a good idea to do a lease take-over to tide over this period of high used car price?
- Used car prices are crazy right now
| Progressive Auto Insurance Just Doubled my Rate. 7 years, zero claims. Posted: 08 Jun 2021 07:24 AM PDT Have two cars on policy. One I make payments and has comprehensive coverage. One I own and have collision only. Never had a accident or even a claim in 7 years and my rate literally just doubled? Is progressive a scam? Edit: it looks like based on comments that my rate increased because of a Washington state law going into effect on June 20th. The law does not allow credit scores to be used in calculating auto rates and with my score I was getting a large discount. Fun fact, my new rate would make my auto insurance monthly cost $40 more than my entire car payment. Absolutely unbelievable. [link] [comments]  |
| I haven't had a raise in four years and haven't had a cost of living increase in two years. Posted: 08 Jun 2021 10:10 AM PDT So I make sound 26$/HR and I live in a low cost of living area (small town in South Carolina). I'm at the top of my pay ill never get another raise or cost of living raise again unless I get promoted. My question is should I be looking for another job? With my partner back at work we can afford for me to take a pay cut and still have all of our bills covered plus extra to put into savings. I have been at the same company for 7 years and I am next in line for a promotion but it could be years before there is another opening. Would it makes since to stick it out until then? [link] [comments]  |
| Posted: 08 Jun 2021 03:47 AM PDT Edit: Thanks everyone, I wasn't expecting this to get attention and I realized I posted a lot of personal, identifying information. My questions have been answered. Thank you! [link] [comments]  |
| Posted: 08 Jun 2021 08:35 PM PDT I've been looking to buy since 2020 and it's only gotten worse. Our realtor has seen offers $40k and even $60k OVER the asking price turned down. There's a recent article on NPR mentioning a $100k over asking price offer turned down. It's getting clear I'm one of the many who are now priced out of buying my first home.
Not much in the way of advice. I'm racking my brain to think outside the box here. Things like a tiny house, RV, moving to WAY into the country, building a house with minimal lumber (like those Earthship houses in New Mexico -- wait, do they even use lumber?) Any ideas on how to get around this market? [link] [comments]  |
| Aren't target date funds too conservative once you get anywhere near retirement? Posted: 08 Jun 2021 04:42 PM PDT Looking at the Vanguard target date fund allocation for example, once you are 25 years out the allocation of stocks goes from 90%, slowly down to 30%. A 30% stock portfolio will definitely run out of money if you want to utilize anything close to resembling the 4% rule. Isn't this fund way too conservative when you gear anywhere near retirement? Doesn't seem like a great choice unless you're >25 years out. [link] [comments]  |
| Posted: 08 Jun 2021 11:43 AM PDT I was sued by a debt collector and we went to trial. The judge ruled in my favor because they couldn't prove concretely that I owed the debt. At the end they lost the lawsuit. My question: Can I use this judgement ruled in my favor to get the collection record removed from my credit report? [link] [comments]  |
| Check your monthly statements for recurring charges. Not everyone sends you emails. Posted: 08 Jun 2021 05:01 PM PDT I happened to check my credit card statement today and it turned out that I'd been paying Boingo $15 a month for over 2 years. I had no idea I had an active account with them - I never received a single email. A reminder to make sure you review for this kind of sneaky behavior periodically. EDIT: Surprised by the negativity here to someone who doesnt have it all figured out and fixed. I didn't realize this subreddit required a "this tall to ride" qualification. [link] [comments]  |
| Posted: 08 Jun 2021 10:29 AM PDT Hi all! My bf and I are renting in a place that is very convenient for location and price for us right now. We'll be here a year in September. We recently got a letter stating it's time to think about renewing, and the letter stated if we renew by 06/18/2021 it would be a 10% increase month to month than what we've been paying, renewing after that date it would be a 15% increase month to month for a 12 month lease. Since we've moved in a lot of not great things have happened in the community... Our kitchen window was shot into, the shooting that occurred also took one of my tires that I had to fully pay out of pocket for, AND my wallet was stolen out of my vehicle in broad daylight. I know some of yall would say "move out" but we really can't afford to live anywhere else in our city. We're great tenants and cause no problems, always pay rent on time, etc etc. I just think the steep increase is bullshit, but we're at a loss of how to go about discussing it with the lease office, if they'd even hear us out at all... [link] [comments]  |
| Posted: 08 Jun 2021 01:27 PM PDT I am in my early 30's living in the midwestern United States. I was admitted to a Psychiatric hospital in late September 2020 due to hallucinations from substance abuse withdrawal. I was first taken to a local hospital who then transferred me to the Psychiatric hospital. When I first arrived, I was in psychosis, so I am unsure if I was voluntarily committed. I received medication and met with a doctor every day for about a week until I was released. I have remained clean since then and my life has improved. Today I received a bill from the psychiatric hospital stating that I owe $8000 after the insurance pays $1200. Is this bill way too high? I am currently living with my parents saving for my own place, and this is a huge blow to morale. Is there a way I can get this bill reduced? Any help would be greatly appreciated. Thanks in advance. [link] [comments]  |
| Buying a house in this market. I know, I know, but I’m running out of time and need advice Posted: 08 Jun 2021 06:27 AM PDT So as a little background info - I'm 29, my ex and I were together for 9 years. We bought our first house in 2014, and upgraded to our "forever house" in August of 2019. The breakup happened and we sold it in March of 2021 (I'll have to pay capital gains on the part I received next year for taxes). I scrambled and ended up renting the cutest house. I got so lucky. I have a giant German shepherd (check my account if you want to see him!) so finding a rental was super tough. Getting rid of him is a non-option. This rental house was built in the early 1900s (dirt basement), but the landlord had ripped it down to the studs and completely remodeled it. It also comes with a building lot I could divide and either sell or bring in a modular home on. I think I'm just scared to buy in this market? The house we sold as a couple went for 75k over what we bought for it 18 months prior. The cons - age of the home, the market, I'd be compromising a lot (no garage, only 1 bath) The pros - he's selling to me directly so no bidding war, he's selling it to me at appraised value (which I'm sure will be higher than normal, too), that building lot - the idea of selling it and getting my more than my down payment back right away is super attractive. My lease is up August 1, so I have to decide quickly. If I don't decide to buy it, he's going to list it for sale and I'll have to find another rental which is also impossible in this market. Any advice, recommendations, pointers on things I'm not considering would be super appreciated! [link] [comments]  |
| 22 years old. What should I do to build my wealth now? Posted: 08 Jun 2021 10:03 PM PDT Hello! I want to be responsible with the opportunity and financial health I have now and start building my wealth early so I am looking for advice on how best to do just that. I understand the magic/power of compound interest and know it can make a big difference in terms of investing. I feel like I have a good grasp of the 'basics' of saving and investing - I am just not sure exactly how/where/what I should be doing to go from here. A bit about me: I graduated college a year ago (class of 2020). I work as an IT analyst in finance making $82K a year and live in a high cost of living area. I plan to attend graduate school part-time in the fall for which my employer will be paying in full. My personal goals include buying property and getting engaged within the next 2-5 years. Here's my monthly budget including debt and current savings: Take home each month: $4360 Debt Student Loan: I currently pay $1200 a month. I have ~$12,00 remaining - collecting 0% interest currently due to the moratorium which is expected to end September 30, 2021. Expenses Rent: $450 (I'm very lucky in this regard. My parents have graciously allowed me & my boyfriend to live in their rental property with just the minimum expenses required to pay taxes and condo fees. This is a crazy cheap rent for our area and I am insanely grateful.) Utilities: $100 Groceries: $150-200 Cell Phone: $20 Gym: $68 Subscriptions (Netflix + Spotify): $22 Post-Tax Roth 401K contribution: $340 Insurance: covered by my parents Car: I currently don't have a car but plan to start leasing one come September. Will have to account for the lease, insurance, gas, and maintenance. (expecting to budget~$500 a month for this) Discretionary Spending (restaurants, entertainment, shopping): $200 Savings HYSA: $15K in an AmEx savings account with .4% APY (this is my emergency fund) 401K: $15,600 (Since I started working ~1 year ago I contributed 10% until January 2021. My company participates in profit-sharing and contributes 15% of salary in addition). Roth IRA: $10K (have contributed 3K so far this year and plan to max it out at $500 a month). Invested in VOO, FNCMX, and FXAIX. Roth 401K: ~$2,700 (I began contributing 10% each month starting January 2021 - see above) Brokerage Account: ~$2K. Invested mostly in etfs. Including my debt ($1200), expenses + discretionary spending ($1060) and current monthly savings ($840) this still leaves me with an extra $1260 a month. I currently have ~$15K sitting in my checking account. Like I said, I feel like I have a pretty good grasp of the 'basics'. My question is - what do I do to go from here - which area should I target first? What should I do with the extra cash in my checking? Should I cut down any area of my expenses? How should I approach my savings and investments? Should I pay off my student loan in full since I have the cash for it or should I contribute more to my brokerage or 401K? Is there something here I am missing that I should be doing to prepare better for my future goals? [link] [comments]  |
| 72k in money market account at 0.050% Posted: 08 Jun 2021 04:37 PM PDT Spouse and I have 72k in a money market account at 0.050% using BMO Harris. We are using this money to eventually use as a down payment for a house but we aren't ready to buy yet. We want to maximize the retirn on the money just sitting there but we do not want to take risks. What should we do? [link] [comments]  |
| Cousin died, close to paying off his house, his wife wants to refinance. Please advise. Posted: 08 Jun 2021 08:03 PM PDT My cousin died a few months back. He bought his house a while back for around 300K, currently the house is worth around 850K. Last I spoke to him he had 2 years to finish paying off his house. His wife was a stay at home mom. Now she is considering refinancing because she can't afford the current payment. Is it a good idea to refinance in this situation? I have no idea how refinancing works, but I think it's a bad idea if it'll increase what they owe. Can someone please advise? [link] [comments]  |
| Do people still sign the back of their debit cards? Posted: 08 Jun 2021 07:42 PM PDT I remember a time when I wasn't signing the back of my debit or credit cards on purpose because I wanted people at stores to ask me for my id because in case someone stole it, they wouldn't be able to use it without my Id. Anyway does it matter these days if I sign a new debit card or not? [link] [comments]  |
| My mom has debt from 20+ years ago and no one said anything. Posted: 08 Jun 2021 10:59 AM PDT So my mother has debt to ford from 20+ years ago. However, they have been sending the mail to an address we have not been at for 7+ years, meaning that we had no idea about it. The debt is now 9k and we don't have the money to pay it. What do we do? [link] [comments]  |
| Posted: 08 Jun 2021 10:58 AM PDT I've got 14 years and one month (169 months) left to pay on a 15 year loan, at 3.25%, I owe $123,481.88. My monthly payment is $1,173.54. I talked to my mortgage company today, they offered me a 10 year at 1.875% on a loan total of $131,900 with a monthly payment of $1,441.27. Looking back at where I was a year ago this deal will actually have me paying MORE after fees than the previous refinance did. The difference in payments is $267.73, the mortgage company's own pay ahead calculator says that if I pay an extra $267.73 every month I'll pay off the loan 50 months early or 2 months earlier than if I refinance. The rate is alluring but with those fees I don't see how I come out ahead. Zillow's refinance calculator agrees with me. Thoughts? Is this a case where I realize I've got a pretty good rate now and stick with what I've got? The mortgage company sends me notices all the time of all the money I could be saving... [link] [comments]  |
| Posted: 08 Jun 2021 06:39 PM PDT I'm an idiot. I've worked my whole adult life and have been great at saving, but haven't done any investing. A few weeks ago I finally wised up and opened a Roth IRA and maxed it out. I now have 65k left to invest. After doing tons of scholarly research on Reddit and Google, I think the 'lazy' 3 fund portfolio is best for me. It involves mostly American stocks, a few international stocks, and even fewer bonds. Being that I'm a little late to the game, can I just do a two fund portfolio and leave out bonds until I'm 40 or so? Is that dumb? I don't know what I'm doing and I'm kinda having an existential crisis about this. Edit: My job offers a 403b with no employer match. I'll be eligible to join the pension in about two years though. I have zero debt (except for mortgage). I have a 6 month emergency fund separate from this 65k I want to invest. [link] [comments]  |
| Using Affirm to purchase a vacation package Posted: 08 Jun 2021 07:43 PM PDT Has anybody used affirm to purchase a vacation package through delta and if so what was your experience using affirm and is it worth or better to just purchase with your credit card? [link] [comments]  |
| I am trying to go on a very strict budget to save for the future. Posted: 08 Jun 2021 07:23 PM PDT Currently, I'm in the university dorms. In two weeks I'll be living on my own in an apartment (roughly $650/m) which comes with AC/utilities(I have no clue what this means, electricity and water I'd think but laundry as well probably)/Internet. I'll be working for around 10-12 weeks, getting around $900 bi-weekly. Let $650/month = $162.5/Week, meaning that with 10 weeks, The total rent will be $1,625. The college I go to is pretty expensive, but with scholarships and other stuff... The help I'm getting requests that I try to pay around $5,000 per work term. Obviously, the larger the number I pay, the less I'll have to worry about in the future With this, we can take the latter and say that over the span of 10 weeks my total income is $4,500 - 1,625 = $2,875.. well under the amount wanting to be paid For right now, this is a really low amount, but it's okay for now. The position I am going to go into is very promising for development. With that being said- it should be fine if I had some residual money leftover.. But.. ya (girl/boy/whatever I am at this point ) messed up real bad. I invested a whole chunk of money (6k from a work term that I was at home working at a factory that was an hr away) into stocks. I reasoned to myself that I wasn't going to be spending the money at all so... "why not chuck it into a system that I know will accumulate over time as long as I look at trends every 5 mins?". I've always wanted to do stocks as a child but was told no, so the rebellious child inside of me decided to not consult my parents and make a stock account. Greed got the best of me and I invested it all into various stocks... but a large chunk went to cryptocurrency. Although I am in a bit of a profit atm, I forgot the startup cost of living before getting a job and all of that jazz, so altogether from a CD I had maturing that I was able to snag some out and have around $1,500 to start out with after the first few weeks of rent (Not going to re-calculate the rent). My overall goal is to save as much money as possible while deciding where to go from here. $1,500 + (accumulating to) $2875 = $3,375 Calculating out stuff beforehand... The commute to work is around 2.0 (around 2.5) miles away. This is the same for nearby groceries and other places, besides going to visit family and friends - which is 250 miles away (I'm living on my own). Since the car is going.. ((28 mpg city / 34 mpg highway ) = roughly 30mpg) and prices are $3/gallon, this can be calculated as every commute (There and back) as being the following: For: 30 mpg and at $3 a gallon, 30 miles / $3 = 10 miles / $1 = 1 mile / $.10 Work = 10 trips / week = 25 miles = $2.5 / week Shopping = 5 miles / week = $0.5 / week Putting it into this- $3 a week doesn't sound too bad- $30 over 10 weeks. (Round to $50 in case). With that being said- $50 for a round trip to visit family is probably the killer. I obviously won't be doing it every week, but maybe once a month (3x give or take) would be nice. Now- is where I'm stuck on what I would need to prepare for vs what I would need to buy... followed by being frugal with what I'm able to get by with while still being healthy. My plan was $25 /Month for food and such- since I do have a bunch of money in gift cards (I think like $60 BWW, $10 Starbucks, $20 Target)... but it still seems really unobtainable. Should I leave any more increments of stocks? I think now that I'm living on my own, I just hold and arrange what I already have in there while leaving the rest to do the emergency funds of $1,000 -> 6 months of emergency income. TL;DR - I really want to save money. How close / what are resources I can use to get to as close for this as possible? With: $3,375 over 3 months... Total Gas Expenses = $200 ($50 + $150) Total Food Expenses = ? Misc (Clothing, monthly subscriptions?) I'm irresponsible.. What else I would need / what should I prepare before going so that I don't have to spend as little as I can? [link] [comments]  |
| Posted: 08 Jun 2021 07:07 PM PDT I had a rough past and racked up some credit card debt that got sent off to collections. I opened it 2/7/2017 and it was maxed out and closed 12/1/17. I have been trying to decide if I want to settle it with collections. I haven't made any payments on it at all in years but my credit karma app says I made a payment 4/1/21. What is that? Is that the original creditor selling it to a collections agency? I am positive I didn't pay anything 4/1/21 [link] [comments]  |
| Posted: 08 Jun 2021 04:54 PM PDT So my mum recently passed, I'm next of kin so have been going through all her things. Just under a year ago she inherited a large sum of money from my grandma who had passed away. And this was a very large sum of money. I found the statements from when the cheques were deposited. I couldn't find any recent bank statements amongst her possessions. Her cheque book was also missing. I called the bank to find out the current balance and she only had HALF the money left. It's impossible she burnt through half the money in this time. There were no expensive possessions (laptop, fancy tv, smart phone, expensive jewellery/clothes) and it's simply not possible she could have spent so much money in such a short period of time. I'm currently waiting for access to the bank statements for the last six months to check for any fraudulent activity. She was quite vulnerable and I'm worried a "friend" may have taken advantage of her windfall. This "friend" also had a key and access to her place. I know the first step is to look through the statements and see where the hell this money has gone, but what can I do next? Can I retrospectively make a claim of fraudulent use? Is there any chance I'll see any of this money again? [link] [comments]  |
| Is it a good idea to do a lease take-over to tide over this period of high used car price? Posted: 08 Jun 2021 08:39 PM PDT I currently don't own a car and I'll be moving to California in August where I won't have access to my family's car. The current used car market is crazy right now and I'm also seeing dealers selling new car for a few thousands above MSRP. Monthly car rental is quoted at $600/month which is above my budget. I'm able to find 6-month lease take-over with monthly payment of <$300 such as this post. Is this a good idea? Is there any cost associated with lease take over that could blow up? I'm also secretly hoping to get a new Ford Maverick at ~$21-22k once it comes out in late 2021 or a used car once the price comes back down. [link] [comments]  |
| Used car prices are crazy right now Posted: 08 Jun 2021 08:26 PM PDT I'll be living in South Bay, so need to get a car to commute, but now Im seriously considering just uber or BART/Caltrain. My company has transportation to/from work, so for the most part I'm ok, but if I wanted to do anything after work, I'd take uber. Am I crazy to want to do that? A damn 2011 civic goes for 13K now wtf lol [link] [comments]  |
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