Personal Finance Word of Warning about T-Mobile MONEY Accounts |
- Word of Warning about T-Mobile MONEY Accounts
- Veterinary Practice Threatening to Send me to Collections
- How do you do it: afford kids
- How do you choose between a better paying job and good work life
- 24k to invest for 5 years
- I’m 19 and want to learn how to have healthy finances
- Will my employer (W2) find out that I'm doing independent contract work on the side?
- My mom used my SSN when I was young and won’t cooperate/admit to it
- How many retirement / investment accounts and which are best to prioritize?
- Will I be able to make it on $15/hour?
- Am I doing my (napkin) math right for retirement? And do yall have any suggestions?
- My MIL about to claim bankruptcy is an authorized user on my credit card. Will this affect my (excellent) credit?
- Best friend asked me to leave the country. What questions should I be asking?
- Should I lock at 2.5 or wait a little more before closing?
- Good budgeting tool or app?
- MORTGAGE: How often can you do a Rate Adjustment? (not a re-fi)
- Intentionally paying a mortgage 2 weeks late
- Check Your Statements!
- Worth it to refinance my mortgage?
- Splitting bills when moving out.
- I paid 40% in taxes in NYC this year??
- Retirement-age MIL needs help getting out of her bad financial advisor.
- (Update) $4000 incorrectly received in RH to Fidelity ACATS broker transfer
- Help me understand mortgage forbearance that ends in deferment.
| Word of Warning about T-Mobile MONEY Accounts Posted: 03 Jun 2021 05:42 AM PDT I'm posting this here just to warn everyone who has a T-Mobile MONEY account to make sure you have your alert and security settings set up correctly. I use my TMM account as a savings account, even though it is technically a checking account. After I set it up and received my debit card, I activated it, and put it in my fire box. I have never made any transactions on my TMM debit card, so I have no idea how my debit card number even got out there for someone to misuse. I got an email alert last night just after midnight for my debit card being used for a transaction totaling $1,170.27. When I logged into my account, this charge is showing as pending. There was zero fraud protection. The transaction appears to have been in Turkey. Nothing in their system raised any sort of fraud alert that a US-based debit card transacting $1,170 in Turkey on a debit card that has never been used. Not even a text or phone call saying "Is this transaction you?" Things you can do:
I'm currently on the phone on hold with them to get the transaction removed. This experience has me seriously questioning if I want to continue using this account, based upon their poor fraud detection capabilities. [link] [comments]  |
| Veterinary Practice Threatening to Send me to Collections Posted: 03 Jun 2021 06:29 AM PDT Last year, we woke up to find out 3 year of French Bulldog Paralyzed. We rushed him to the animal hospital and found out that he had a slipped disc (Common for the Breed) and would need emergency surgery. They gave him a 50/50 chance of walking again, and explained his 6 months of recovery, and slapped a $15,000 price tag on it. At the time our older son was just turning 3 and our youngest just 4 months old. We couldn't lay out that money and more importantly knew we couldn't provide the care he needed (including expressing his bladder multiple times a day) for 6 months. Maybe forever if he didn't recover. It was a tough decision, that still saddens us to this day, but we opted to put him up for adoption to an agency that would pay the bill, foster, and then adopt him out. Ultimately the surgery was a failure, but he's in good hands with an individual who will provide the care he deserves. That all being said, he still spent the night in the Animal Hospital, and we paid a bill for around $1,800 for one night stay in the Ritz of Animal Hospitals. Fast forward a few months later and we get a mystery statement from he animal hospital for $300. I pushed back, making sure that they knew we had surrounded him, and that all past due amounts should go to the shelter. They sent an itemized bill, explaining each charge, but again I pushed back because it should be noted what time all that care was provided, given that we surrendered the dog. As I dug deeper in the Animal Hospital there was review after review of over charging, and just shoddy billy practices. So I refuse to simply trust that this services were provided. So when I pushed back again today, they Threatened me with Collections and that they would no longer communicate with me. Given that the dog is owned by an Employee of the hospital, I find it crazy that they simply can't ask that person for permission that share the information, but I'm suspicious that they don't even have it. What options do I have here? Just pisses me off that they can bully me into paying this $300 dollars with out providing a time line of services rendered. Can't they just freaking WRITE the times next to the invoice? Or am I just paying this to Avoid the Hassle? Edit/Update: Even though they have said they will no longer communicate with me via an email. I replied with very specific questions, and I noted that their lack of reply will be noted if they choose to pursue collections. I will give them the day to reply. After that, per u/ScrewWorkn suggestion: I will send them a certified letter, again with my detailed questions. All emails correspondence, invoices, etc. and a letter explaining that if they choose not to provide these details, I will consider the bill invalid. And if they choose to send to collections, I will bring them to small claims court to seek punitive damages for any negative impact to my credit score. [link] [comments]  |
| Posted: 03 Jun 2021 01:21 PM PDT As the title says, how do people afford to have kids? (Or in our case- a second kid). I know there's been forums on this before but it always seems to be folks in one extreme circumstance or the other (great savings, family help or crazy in debt). How does the average person afford to have kids? And how can we? Together my partner and I make slightly over $100k a year. We take home about $5600/mo. We live in a HCOL area. Our rent is $1800. We currently have one child and we pay for daycare 4 days a week. Our monthly daycare budget averages about $1500/$1600. We don't have any wild expenses, though I'm sure there are areas we can trim back (eating out for example). But even if we trimmed all the extra spending it wouldn't cover daycare for a second child. Lately, we've been feeling like we're stuck right where we are. Everything works just fine as it is now. Just enough for daycare, rent and a relatively comfortable lifestyle. But any changes or emergencies and we're set sideways. Any advice is super helpful. [link] [comments]  |
| How do you choose between a better paying job and good work life Posted: 03 Jun 2021 07:00 PM PDT So basically my title. I've been pretty unhappy at work for the past 2 years. Obviously covid happened so I was just happy to have a job. But now that things are opening back up i've since gotten 2 offers this week and am having a hard time deciding which to go with. Why i'm unhappySeveral reasons why before but to start off there just isn't any growth for me at this company. I do not enjoy the type of work, i've grown tired of the people I work with, and there's just no general direction in terms of where my skills are going. I've asked for a change and just haven't gotten it. To add to that we also didn't get either a raise or a bonus this year (blaming it on covid even though we posted near normal profit). One of the great reasons to work at this place was generally you sacrificed a lower salary because of the real good retirement benefits. Good matching, pension, healthcare. SalaryCompany A comes with a 20% salary pay raise. Company B comes with 0% salary raise but a bonus that is 2x my current. So basically their bonus is the differentiator between my current company and company B. Both companies beat out my current salary but Company A does it with an actual salary. Company B only beats it out because of the bonus. Company A pays the same type of bonus I currently get. HealthAs far as benefits go, both companies have the same health Commute(not taking WFH policies into account) Company A -- New Commute would be about 50 minutes each way - about a 20 minute increase per way. Company B - Actually shortens my commute by 5 minutes each way RetirementCompany A like I mentioned has a standard 401k that is similar to Company B Company B - Company B contributes 10% of my salary into my 401k - in addition to the 6% match. Work Life BalanceCompany A - I do not know about WFH yet for Company A because they have yet to announce anything. They also have a standard 3 week PTO + 1 week sick Company B also hasn't decided - though I got the feeling they would require people to come back. But because of the short commute - it's not the biggest deal. 5 Weeks starting PTO (sick is combined) Current Company - 3 weeks + 1 week sick OverallIt's hard for me to say for sure which job I would like more (Company A has a slight advantage because i'm an actual customer to their product and really like it).. The roles are pretty much the same in terms of the day to day stuff. However the culture at Company B is supposedly better. Reading the reviews actually supports it. What makes me really struggle really comes down to the salary. Life has gotten so expensive lately and having that guarantee salary is nice vs the same salary and hoping I get my full bonus. But that higher salary comes at a cost. I would most likely need to look into buying a newer more reliable car because of the longer commute. I would need to take tolls. I'd be in a car for about an hour a day each way which I really don't know how bad it would suck because I have never had to deal with that type of a commute. What concerns me about Company B - as good as they sound - is just that there is no guarantee in that bonus and that they rely on good retirement benefits. I keep hearing company loyalty is dead - yet this seems to play into the whole stay with us longer as thats your real benefit. Thing is, i'm 25. I understand having a good retirement is necessary but I don't want to feel like im sacrificing one for the other when I want and can maybe have both (especially after hearing about my friends recent offers). Now, if they actually pay out that bonus, then everything is good and I can learn to count it towards my income - i'm just hesitant because it doesn't come with every paycheck so I shouldnt have that mindset. So I would love your guys' input into what your thought process would be. Also would like to hear from anyone who has make the lower salary choice for the benefit of having a better Work life balance and if you'd do it again. I'd also like to hear from anyone who needs to tell me to wake up and realize they both sound terrible and that I should keep looking. [link] [comments]  |
| Posted: 03 Jun 2021 05:41 PM PDT 60yo, unmarried, no savings, no debt, good job, live comfortably, and I received 24k. Assuming I'm going to retire at 65, what's the best way to utilize that money? Two 10k 5y high yield cds? And save 4K? I know it's not going to make me rich but I still want to be smart with it. [link] [comments]  |
| I’m 19 and want to learn how to have healthy finances Posted: 03 Jun 2021 06:35 PM PDT I'm debt free, I do have some savings and investments on stocks and index funds, and I've just made my first budget. Any tips? [link] [comments]  |
| Will my employer (W2) find out that I'm doing independent contract work on the side? Posted: 03 Jun 2021 06:27 PM PDT I started a position last year, and it is simple enough that I'm able to work an additional 10-15 hours per week while completing everything that's expected of me. I've scoured the employee manual and my employment contract and there is nothing that states that I can't work as an independent contractor outside of work hours. Nevertheless, I don't have great trust in my CIO, and I suspect if he learns that I'm doing contract work on the side, he will start demanding more of me than I am compensated for, or will think that I am somehow shirking my work responsibilities, even though I exceed the expectations that are set for me. If I take work as an independent contractor, will my employer receive any tax information indicating that I have done so? Will there be any way, other than me telling them that I'm taking this work, for them to know? [link] [comments]  |
| My mom used my SSN when I was young and won’t cooperate/admit to it Posted: 03 Jun 2021 09:10 AM PDT *Edit, I'm getting a verification letter in the mail for the IRS website, my mom DIDNT STEAL IT ! That's great, my apologies @ my mom. I'm keeping this thread up because some of the replies said how a young people get confused like I did and maybe it'll help another clueless 20yr. I wasn't lying when I told yall I don't know a lot. Thanks to everybody who commented ————————————————- Alright idk if this is technically a personal finance question, but I see amazing tips in here and wanted to try. If there's a better place to ask this please direct me. I'm only 20 and don't know a lot yet so bare with me I could never log into the IRS website and it shows cards and loans being used in 2011-1014, right when my parents got divorced about. Moms bipolar and wack and spiraled because of the divorce so it makes sense. I asked her about it and she said she has no clue (I could get into the website if she had just told me what exactly she did, and I wouldn't be here right now). Two years later after learning once I turned 18, I still have yet to ever go onto my account. I tried calling my local IRS location, an automatic voicemail said to make an appt online, I go online to my location and it says to call a different number, I called that number and it said to call the locations number. The IRS phone number is backed up and I can't do anything through it. I'm about to buy a house. I need a new car soon. I have previous incorrect tax information. I didn't get any covid relief money last year and I think part of the reason is because I couldn't get into my account. I've pushed this off because I'm also bipolar, thanks mom, but unlike her I'm regulated and borderline normal. I don't know what to do and the rest of my family is no help. I just want this sorted. Where do I go from here? Long story short: my mom stole my identity and there is no available communication with the IRS for me to try to fix it [link] [comments]  |
| How many retirement / investment accounts and which are best to prioritize? Posted: 03 Jun 2021 07:35 PM PDT Currently, I'm saving around 650 a month to Wealthfront investment account, I've maxed out a supplemental 457b / deferred comp plan, and I have a 401a account with employer contribution. I still have some residual income, is it better to sink that into Wealthfront? Is it really safe? Through my employer I could also open a 403b, but that feels like a lot of retirement accounts. If it matters to this I don't pay into social security since I work for a state university. I've already got an emergency fund saved. My only debt is a mortgage, 4.5 interest rate. [link] [comments]  |
| Will I be able to make it on $15/hour? Posted: 03 Jun 2021 01:33 PM PDT I recently graduated college and am struggling to find a job in my field (Computer Science) as I have no professional experience. I have a job offer at a smaller IT company that I used to intern for, but for the entry level position they're offering, it's only $15/hr. I like the company, and definitely need the experience, but I'm trying to figure out if it is feasible to live on that. I am currently living with my parents (3 hours away) and trying to find my own apartment in my college town, but from my search, I can't find any appartments in the area for less than about $1000/month unless I can find a roomate. Thankfully, I have no debt or car payments. The job is 40 hrs a week and I'm already familiar with most of the staff, I was just expecting to find a higher paying job now that I have a degree. Is is possible to make this work? [link] [comments]  |
| Am I doing my (napkin) math right for retirement? And do yall have any suggestions? Posted: 03 Jun 2021 04:32 PM PDT I am 20 right now and was just thinking about how to retire at 60 and have the equivalent of todays $100,000 until im 95. My math was as follows: $100,000 x 35 years = $3,500,000 3.1% average yearly inflation adjeusted to 3.3% for my safety converted to decimal is 1.033 1.03335yrs = 3.115 or 311.5% $3,500,000 x 3.115 ~= $10,900,000 As Im writing this I realize I have no idea how taxes affect retirement so comments regarding that would also be appreciated. Edit: Ok so after only a few of your responses I have realized this is much more complicated than I originally thought. I do however appreciate all of these detailed comments and will be using them as inspiration for some research. [link] [comments]  |
| Posted: 03 Jun 2021 07:14 PM PDT We are close with her, and she responsibly uses the card for household odds and ends for us. I am not worried that she'll try to screw us over. I consider myself relatively financially astute, but really don't know how this could affect my credit - or her bankruptcy proceedings. [link] [comments]  |
| Best friend asked me to leave the country. What questions should I be asking? Posted: 03 Jun 2021 03:26 PM PDT I'm not sure if this is the right place to ask this, if it isn't, I'll remove it. My best friend of 15 years is moving back to his home country to start his own business, and he asked me to go with him. The reason I'm posting here today is because I'm not quite sure what questions I should be asking him. What I've come up with so far is
The vast majority of my professional life has been spent in IT, so I'm sure there are some questions I'm unaware of on the finanial side of things. I'm hoping you guys will be able to help me out so I can make an informed decision. Please let me know if I need to clarify anything. Edit: Would be going from the US to the Dominican Republic [link] [comments]  |
| Should I lock at 2.5 or wait a little more before closing? Posted: 03 Jun 2021 04:45 PM PDT So my current lender offers 30 year fixed at 2.5% with 1 point. I am 55 days till closing. Should I try my luck and wait it out to get lower rate or lock it now? I do need to pay around 7kish as well for locking the rate now vs waiting too.... any advice? [link] [comments]  |
| Posted: 03 Jun 2021 08:25 PM PDT I am trying to get ideas on good budgeting tools or like apps people liked. I am wanting to get a visual where everything is going so I can track my money better. Any suggestions would help! [link] [comments]  |
| MORTGAGE: How often can you do a Rate Adjustment? (not a re-fi) Posted: 03 Jun 2021 06:12 PM PDT Instead of doing a total refi, how often can I do a Rate Adjustment? Last time was a few months ago, I asked again and they said no not now. When I asked how long do I have to wait, I didn't get a answer. This was Bank of America. Any tips? [link] [comments]  |
| Intentionally paying a mortgage 2 weeks late Posted: 03 Jun 2021 08:14 PM PDT I've always wondered, is there a downside to paying a mortgage during the 15 day grace period? Assuming I never screw up and pay after the 16th... is this basically an interest free loan? I'm looking at a temporary shortfall and may have to delay a mortgage payment, and it got.me thinking...why not always pay late, just never after the 15th. [link] [comments]  |
| Posted: 03 Jun 2021 01:20 PM PDT Y'all. I just was reviewing stuff in Mint, like I do occasionally to make sure it's in the right categories and whatnot. And I saw a curious bill -- it looked like I was being double billed for insurance. AND I WAS! So, not only will I not be paying $100something per month going forward, but they're refunding $800 to me! Wild, right? Check your statements -- it might be worth a lot! [link] [comments]  |
| Worth it to refinance my mortgage? Posted: 03 Jun 2021 05:49 PM PDT Seeking the hive-mind's advice on a home refi. Current Loan (20-year)
Proposed Loan (15-year)
From what I can tell, 1 year is shaved off my current term, my monthly payment reduces by ~ $91, and I save a shit-ton of interest over remaining life of the loan. We don't have plans to move for now (especially in this market). Seems like it would pay for itself in less than 2 years. Anything I'm missing? Edit: I suck at Markdown, fixed it [link] [comments]  |
| Splitting bills when moving out. Posted: 03 Jun 2021 07:54 PM PDT A few months ago my room-mate (very unapolagetically) said that she wanted to move in with her boyfriend and that it would be more convenient for me to move out so that he can take my place. She said that he'd be moving in this month (june) so I arranged to move out in May, which I have done so, while still paying my full share of the May rent and up until June 12 when he moves in. She has also completely spread her things into my vacated bedroom (while I'm still technically paying for it) Since I moved into my new place at the start of the May I have been back at the previous place a total of about 10 hours. Should I still be paying for my full share of the electricity bills? All the other expenses I've accepted that it's reasonable to pay for but I can justify paying 50% of bills when I've contributed to less than 5% of the usage. (I know about the base connection fees and am happy to pay my share of that aspect of the bill) [link] [comments]  |
| I paid 40% in taxes in NYC this year?? Posted: 03 Jun 2021 03:39 PM PDT So last year was my first year in NYC and I realized that I paid 40% of my income in taxes. Pre-Tax Income: $220k, post-tax income: $132k. This is not just my deductions btw, this is actual tax liability. Does this sound right? Or am I doing something wrong? [link] [comments]  |
| Retirement-age MIL needs help getting out of her bad financial advisor. Posted: 03 Jun 2021 10:29 AM PDT Hello, My mother-in-law needs some help with managing her finances. She is 63yo and nearing retirement and also planning a separation from her husband. The two of them are definitely well-off. They live in NY and would qualify for NY estate taxes; have a family trust and charitable trust and retirement and investment accounts. Until now, their finances were managed by a "family friend" who charges hefty fees (1% of AUM) and has invested their money in complex, illiquid products like structured Notes and had them buy bad insurance. She realizes that this "advisor" may have been scamming them and — together with the other changes in her life — wants to get her finances on the right track from retirement, tax, and estate planning perspectives. I thought that before she unbundles everything from the current financial advisor (perhaps incurring capital gains tax for any unnecessary transactions), she should meet with a good financial advisor who would, as a fiduciary, just diagnose her accounts and tell her what her next steps should be. Almost like a medical check-up. We are based in NYC but happy to "visit" someone over Zoom/Skype. It seems like a fee-only hourly consultation would be ideal but I'd love to hear your input on that. I've checked the database at NAPFA and the Garnett Network but the results mostly don't carry reviews (and Google/Yelp searches of them don't yield reviews either). Hence I'm turning to you guys for any recommendations. Any suggestions would be highly appreciated! [link] [comments]  |
| (Update) $4000 incorrectly received in RH to Fidelity ACATS broker transfer Posted: 03 Jun 2021 03:25 PM PDT Original post for reference: https://www.reddit.com/r/personalfinance/comments/lln6tp It has been 4 months now after incorrectly gaining approximately $4000 during a transfer between Robinhood to Fidelity brokerage accounts. The error was likely due to me initiating the transfer while I still had trades in process. I have not and do not intend to spend the money. However, Robinhood is not making the process of returning the money easier because I have sent approximately 5 emails to their support line with no response (I have screen recording footage of me sending 3 of these to document correspondence). Beyond waiting for them to respond, is there any further action I can take? My fear is that this drags out into next year and I am on the hook for paying income tax on $4000 that is not mine. I appreciate any and all responses, thank you. [link] [comments]  |
| Help me understand mortgage forbearance that ends in deferment. Posted: 03 Jun 2021 06:35 PM PDT Let's say the original mortgage taken out was $120 with monthly payments of $1. Three years pass and now the total payoff amount is $84. However you fall on hard times and decide to enter into a forbearance for 1 year. At the end of the forbearance you were approved for a deferment and the total amount of missed payments($12) for the past year will be added to the end of the loan. What would be the new total payoff amount after exiting the forbearance. $84 or $96? [link] [comments]  |
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