Personal Finance Employer paid off student loan, I think they may have goofed. |
- Employer paid off student loan, I think they may have goofed.
- New Landlord wants to increase rent by 24%
- What are your thoughts about investing money into your physical appearance (not clothes or jewelry)?
- ER room "is not accepting/offering discounts" - Any advice on how to handle/negotiate lower?
- Father (65 years old) and making the best use of retirement money
- How To Pay Off Overwhelming Debt?
- Always been scared to invest my savings, looking to make the jump. How much should I invest?
- What do you think about companies that don't offer 401k matching?
- Got an email saying I was accepted for a lease. Called back landlord an hour and a half later after receiving the message and they've already contacted their 2nd choice.
- Does it make sense to buy points to change rate from 1.875% to 1.75% for a 15 year refinance?
- Going to be leaving my job
- Mother in law gifted us $60k. What should we do?
- Thoughts on joint bank accounts?
- I owe $1,133 on a discover card and have $1783 to my name right now. I get paid $1076 weekly, should I pay it off now?
- Amazon/Amazon Prime Rewards Visa Weirdness
- I live overseas where I meet a lot of people who ignore their debt. Their argument is that their debt and credit score in back home doesn't matter in Asia. Is this true?
- $7,000 in grant money taxable?
- Worth trying to recover stock money from the state?
- Creating LLCs for personal and business use
- Is it bad to give this information out for payment
- Need help in regards to my credit score and a class action lawsuit regarding a C/O CC account
- How to deal with sudden wealth guilt after getting a job that pays well?
- Retirement burden
- Old medical debt I just found out from checking my credit score to rent a house
| Employer paid off student loan, I think they may have goofed. Posted: 11 Aug 2021 01:54 PM PDT I was doing some reading and came across employers paying off student loans and how a lot of employers are doing this etc. but that it can create some tax nightmares for the employee. Within the last month my employer (501 3c NP) paid out over a couple million towards wiping out a bunch of employee debt. Myself I got 50k wiped out. They were advised it would incur no tax increases towards us. I am in our administrative office and I heard the director talking about it and that our cpa may have misunderstood them, they were also outright paying for some folks to go to school. Did they screw up? Will those of us who had payments made going to have to pay taxes on this?? They sent the checks directly to loan handlers. [link] [comments]  |
| New Landlord wants to increase rent by 24% Posted: 11 Aug 2021 03:52 PM PDT hello everyone so recently the apartment building my mom lives in has been purchased by a new landlord, now this building has been sold multiple times through out the years with no prior problems with previous landlords drastically increasing rent. My mom has been living in this building for over 20 years and right now she's paying $1,050 a month in central Jersey. This new landlord lets call him "Bill" wants to increase the rent $250 more. For the past 3 years my mom hasn't had a lease contract even to this day. But now Bill wants her to sign the contract and now pay $1,300. To my understanding and I could be incorrect but isn't the rent per year only go up 3% to 5%? The conditions to the apartment haven't improved nor do they bother to improve quality of living, we are stuck on what to do, I don't know if we should fight this or bite the bullet and just pay the increase. We've been threaten to be locked out of the apartment if we don't pay the increase and sign the new lease contract. Are we in the wrong? or should we fight back. Thanks everyone for reading, any feed back would be helpful. [link] [comments]  |
| What are your thoughts about investing money into your physical appearance (not clothes or jewelry)? Posted: 11 Aug 2021 02:14 PM PDT So, I don't exactly have a ton of money saved up. But I'm seriously thinking about spending what I have, to work on my appearance. I'm 33, pretty much always been self-conscious. The two biggest issues I have are crooked teeth, and on one side of my head, I have what's called a "pilar cyst", which is basically just a big bump on your head. Enough of an issue, which short hair, you can tell there's a lump or something. In the past, I've always just thought "first focus on the important stuff, like paying off debt, putting savings back, and then focus on cosmetic stuff". I'm probably not just as good with money as I try to be, and I greatly overestimated how much I could scale my cost of living back (NoVa ain't cheap). But I feel like I'm in a position where, either I make that stuff a priority, or it's just never going to get done. I dunno, I'm honestly kind of curious how much importance you guys place on that kind of stuff? Just, I dunno, feeling good about yourself, not necessarily "to impress people". Or am I just being super vain, and need to focus on the fundamentals, and forget about spending money on that kind of stuff until I have "blow money"? [link] [comments]  |
| ER room "is not accepting/offering discounts" - Any advice on how to handle/negotiate lower? Posted: 11 Aug 2021 10:43 AM PDT Hi everybody, I have a question about an emergency room bill that I received for $1,300 for something I went in for 2 months ago where I had torn a quad muscle. I was given a couple of injections and tablets (which on the bill are listed as $32 total) and was told that they cannot do anything and that I need to go to see an orthopedic the following day. I was in the emergency room for maybe 1 hour and was with a triage nurse for perhaps 7 minutes. On the bill I have received, it's $32 for the injections/tablets, but then $1,270 for ER level 2 charge and physician charge. Following the advice from people on here, I have just called the billing department to see if I can negotiate this amount. I started out by stating that I cannot afford the charge, that I am from the UK and wasn't aware that it would cost this much, and can they accept something less if I pay today. My ask was met with a flat-out "We do not offer discounts and I am not in a position to settle this for less". With that being said, what are my options? Keep calling back and asking again, or is this sometimes standard that they do not offer discounts? If so, do I let them keep chasing me for payment and try again once it is past due, or is that running a risk of collections which might hurt me even more? Any advice on how to handle would be appreciated. I understand that I should have been more aware about the ER process here, but it is my first time dealing with it in the US, and $1,300 for 10 minutes of time is crazy. Thanks in advance for any advice. [link] [comments]  |
| Father (65 years old) and making the best use of retirement money Posted: 11 Aug 2021 10:09 AM PDT My father has a regular savings account which he calls his retirement money. For years, I've been trying to persuade him to invest it in an IRA but had been hesitant putting his money in something he couldn't understand. It wasn't until this past weekend that he has finally agreed to do so. However, I am reading that a Roth IRA requires a five-year holding period before any withdrawals can be made. Now knowing this, it's difficult for my father to be okay with not being able to touch his money for five years, especially at his age. I've looked to see what other options he could have at his age but I'm surprised how little information there is (unless I am using the wrong search terms). Obviously, I know he won't get much in investments, but it will be far better investing in Vanguard's VTINX than a basic savings account. What would be a suggested course of action? [link] [comments]  |
| How To Pay Off Overwhelming Debt? Posted: 11 Aug 2021 06:03 AM PDT Good Morning. My husband and I have been married for a few years now. When we first got together, I had $4,000 balance on my credit card that I was gradually bringing down. This was due to my college, and the monthly payments requested by the bank were only $100, but I was paying extra to stay ahead of the balance. Well, my husband was awful with money. This often left the bills to fall on me. I am a full-time college student with a job, but I only make about $900, so I was paying our water, electricity, internet, my car payment, food for the dogs, all of the dog's vet bills, all of my things for school. I know this doesn't seem like much, but when you only have $900 to spend every month that's your entire paycheck and then some. He didn't get better with money until I finally had someone intervene, my parents. He and my dad work the same job. I am so overwhelmed with the debt we've accumulated from me paying for everything with money that I don't have- we are $24,000 in debt on that card because he used it as his. I worked from the time I was 15 to the time I was 20 when we got married to have a credit score of 749. It is now barely 700 because of this. What do we do to pay this off quicker? We hardly make enough money to pay off the monthly payment (which is $550). He is MUCH better with his money now, and things have shaped up a bit, but the hole that this has made is gigantic. We pay $800 a month for our place, so one of the cheapest you can find. We stopped eating out. I stopped buying coffee at school. I now work somewhere that gives me a discount on everything I need, Including vet care, for my dogs. (3). We keep our thermostat as high as we safely can (don't want the dogs to overheat) to keep the power down. We hardly use lights in the house. We've made every small change that we can think of and we still can't seem to pay this card down. He had his realization about 9 months ago, and we developed a new routine, only spend what we need, all that jazz. But nothing is working. I've been getting offers in the mail to consolidate the debt, and they're saying because of covid $10,000 of it might be forgiven. I'm so desperate but I can't seem to find any resources that explain how these programs actually work or how, if at all, they would affect my credit. Anywho, thank you so much if you actually read all of that. I'm just really trying to dig myself out of this hole. Husband is finally on board so any and all suggestions are welcome. (except for getting rid of the dogs. this is not an option.) [link] [comments]  |
| Always been scared to invest my savings, looking to make the jump. How much should I invest? Posted: 11 Aug 2021 09:43 AM PDT I have always been scared to invest my money in the stock market, but I am looking to finally make the jump. I have followed the stock market for years, even did some playing around with options with a few hundred bucks. I am 25 years old, make $3900 a month after tax. My rent is $750 (gf and I rent a townhouse), and I spend another $1000-1500 on bills/car payment/food etc. I have $33,000 in my 401k, (my employer puts in $800 a month for me automatically, without any matching or anything). I have $60,000 in my savings account. In the next few years I could see me and my girlfriend buying a house, but luckily I believe her parents will gift a downpayment. Anyways, I am wondering how much I should invest of my $60k and how much I should keep in case of emergencies. Whatever I do invest, id like to put most in indexes, but Id also like to throw some money into more riskier companies / crypto. How should I split this up? Any advice is appreciated. [link] [comments]  |
| What do you think about companies that don't offer 401k matching? Posted: 11 Aug 2021 10:30 AM PDT I know benefits can vary wildly by field and location, so for context, I'm in tech in the Bay Area. As I job search, I'm coming across a (to me) surprising number of positions with companies that don't offer a 401k match. These same companies tout catered lunches, wellness reimbursements, 16 weeks of paid parental leave, transportation stipend, and great health benefits on their careers page, so it's not like they have a stingy attitude toward benefits in general (I'm sure some of these things aren't as great as they make them out to be, but it's not like they offer zero benefits). One of them is even a financial tech company that makes an investing app. My question is, would this matter to you as an applicant? It honestly makes me not want to apply for these jobs, but the value of the match for me would probably be like $5k/year max, which makes me feel like a bit of a drama queen. I'm curious to know whether this is something that other applicants value less than the other benefits listed, so they don't feel like they need to offer it. Or if it's more common than I thought to not offer matching even with a full suite of other benefits. The fintech company especially chaps my ass because of their MiSsIoN to help people save (and you'd think people interested in that mission, i.e. desirable candidates, would care about 401k matching!). On the other hand, I don't currently have a 401k match anyway (was much more desperate when I landed my current job), and it's not a huge deal in the scheme of things - I just wonder if it's a sign of a greater lack of care about employees. Very curious to hear others' thoughts! [link] [comments]  |
| Posted: 10 Aug 2021 08:37 PM PDT I'm just shocked. I got an email saying I'd been accepted for the lease, and to look for contact from the landlord for further details. I check the texts on my phone and see one from the new landlord that was sent around 6PM saying to call them back before 9:30 so we could discuss signing the lease. I called them back around 7:30 and when they answered, they told me they'd already contacted their 2nd choice since they thought I wasn't interested with how long it took me to respond back, and the 2nd choice had confirmed that they wanted to sign the lease. The landlord did tell me that if the 2nd choice doesn't show up to sign the lease by 6PM tomorrow, they'd default back to me again, but I feel like I've had the rug pulled out from underneath my feet here. Am I just shit out of luck? I have record of the Email saying I was accepted for the lease and the text saying to contact the landlord before 9:30 as well as call history stating I did in fact do so. I had a lot hinging on this lease, so I'm not sure what I'm supposed to do here. [link] [comments]  |
| Does it make sense to buy points to change rate from 1.875% to 1.75% for a 15 year refinance? Posted: 11 Aug 2021 12:48 PM PDT We don't intend to move anytime soon, if at all. We are a little over a year into our 30 year mortgage at 3.25% and we wanted to switch to a 15 year while rates are low vs. putting extra onto current mortgage at current rate. We locked rate originally at 2% but then changed it to a 1.875% with same lender, still locked. Our options are: 2% fixed with $4,292 in lender credits 1.875% fixed with $1,951 in lender credits 1.75% fixed with $470 in points paid Total loan costs before credit/points: $1,663 + $1,672 for property taxes that may be due at time of closing. Don't need an appraisal and will be below 80% LTV so no PMI and I can and will remove escrow. I know $470 is a very small amount to add in terms of mortgage costs but didn't know if .125 of a percent would make much of a difference as it doesn't for overall mortgage payment. Thanks Edit: $365,000 is loan payoff amount [link] [comments]  |
| Posted: 11 Aug 2021 06:26 AM PDT Hello all!!! First thank you to all who took the time to even read this. I wasn't sure where to post this and I've seen people mention something similar. I've been having an extremely hard time at my Job. We've taken on a new director for my dept and he is an absolute horror. I unfortunately was high up the chain in our dept and I've steadily reduced my role in our dept because I refuse to violate workers rights and it just lead to me being fucked with. Sorry I'm just rambling…. Here's my dilemma and where I'm looking for advice. I plan on giving my two week notice in the next day or so. Effectively leaving the entire department without management that have actually interacted with our community. Yes employee turnover became so bad that out of 63 employees only 6 of us were from before he was hired in late Fall 2019 then covid hit and we closed to in person services but will return in September. With that context I'm 95% sure he is going to tell me to not bother coming in anymore and I was wondering if I gave two week notice and my employer tells me not to bother coming in those last two weeks so they have to pay me for those two weeks or am I screwed? I live in NY if that helps. That's where the finance part comes in. I can't risk not getting those last two checks as my other job reopens in September which would leave me without income for close to a month. Edit: I'm an hourly employee but full time and contractually guaranteed 40 hours My other job isn't a new job. I only work 10 months a year. [link] [comments]  |
| Mother in law gifted us $60k. What should we do? Posted: 11 Aug 2021 05:07 PM PDT My mother in law recently gave my husband and I $60k after selling her home. Shes aware of how much student loan debt we have but didn't put any stipulations on what we do with it. Our combined loan debt has been refinanced at $50k with 2.5% interest. We also plan to buy a home in about 1-2 years and settle down to have a family. We considered investing it all but want to buy a home sooner than later. My husband wants to add the $60k to our current savings since we would be set for a down payment on our home. I want to pay off the loans to be done with it and invest the rest, then continue to save for the down payment. What should we do with it? [link] [comments]  |
| Thoughts on joint bank accounts? Posted: 11 Aug 2021 03:38 PM PDT I saw a post earlier that made me wonder what people think about joint bank accounts with their spouse? I (M27) make abot 85k a year, and my fiance (30F) is back in school and makes about 25k. Additionally, I have over 100k in savings, and she has a few thousand. She is very staunch in not having joint bank accounts, while I am pro it. I wanted to ask everyone's opinion as to the pros and cons, and if you are strongly pro, advice on how to convince my fiance it is a good idea. [link] [comments]  |
| Posted: 11 Aug 2021 10:12 AM PDT I earn $1076 weekly and if I pay this off now I'll have $650 to my name. I have no major expenses to pay this week. Thoughts? [link] [comments]  |
| Amazon/Amazon Prime Rewards Visa Weirdness Posted: 11 Aug 2021 03:45 PM PDT I applied and was instantaneously approved for an Amazon Prime Rewards Visa and immediately used it (it put itself in as the default option) to make a +1000 purchase on Amazon. I didn't get any complaints or error messages at all. The next day I come and I check all my known accounts and I don't find the purchase posted anywhere except Amazon itself. I check the new Amazon Visa credit account and its listed as only having a limit of 500 bucks but showing no activity so far. Whats going to happen? Is this just a system delay? Am I going to be penalized for overcharging my new card? [link] [comments]  |
| Posted: 11 Aug 2021 07:37 AM PDT Just to preface, I'm not going to stop paying off my student loans regardless of the answer. I've been living in Asia for almost five years and I meet a lot of expatriates who argue this. I'm currently in Japan where I'm told (by expats, not experts) credit ratings aren't really a thing here, and your American/Canadian/British credit rating doesn't matter, and it matters less if you don't plan to go back home. Some of them just ignore their student loans because creditors can't get them overseas. As an aside, a startling amount of them don't have a single credit card (probably because a bank won't issue one). So, is it true? Have I been a "fool" paying back my debt this whole time? [link] [comments]  |
| $7,000 in grant money taxable? Posted: 11 Aug 2021 11:50 AM PDT Hey all. Between the Spring and Summer semesters, I received a little over $5,000 in Cal grants and after school costs, etc I have about $4,600 left in my bank account. In the fall semester, I should be receiving another grant refund, somewhere between $3,000-3,500. Since the aid, covers all of my tution and my books will likely be less than $300, this means between the spring, summer, and fall semester (possibly winter), I will be getting back over $7,000 in a refund. My question is will I have to put this money on my taxes next year? I've been researching this question for the past few days and the only thing Im seeing is as long as its been put towards school related costs, it wont be taxable HOWEVER I literally just plan on throwing this money in my savings account for when I transfer to a university since thats when things become pretty expensive. Can I explain this to the tax person (I file my taxes online via turbo app and usually have somone help me as I fill it out) or it doesnt matter? For some background information, I am an independent student, 22, pay all of my own expenses, and go to a community college. thanks [link] [comments]  |
| Worth trying to recover stock money from the state? Posted: 11 Aug 2021 12:44 PM PDT Hey all, while clearing out a closet a while back I came across an old Disney stock slip in my name. Apparently it was purchased for me when I was born (1992) by a since-passed aunt. I had no knowledge of it prior. Curious, I did some digging and after some effort I was able to speak with a representative at Disney who informed me that, as the stock had remained inactive for so long, my home state (North Carolina) treasury department had since taken custody of the stock and I'd have to go through them to get it back. Now, I'm 110% an novice when it comes to any and all matters finance related. But I've heard it said that getting money back from a state treasury department can be… a hassle. I've already been through the process once, and the state asked for proof of residency for my 1992 address. My parents did not keep documentation from this time. And what's more, I've heard plenty of stories that state treasury departments are notorious for not giving the money back, or otherwise having already sold the stock. I'm curious to get some peoples opinions on wether or not it'd be worth the effort to try and claim this and, if so, if anyone had any helpful this for the process. Thanks all! [link] [comments]  |
| Creating LLCs for personal and business use Posted: 11 Aug 2021 02:24 PM PDT I'm reading up on creating LLCs for various uses (e.g. business, investing, "saving" for your children, etc.). However, I've fallen into information overload and could use a sanity check to make sure I understand the idea and its benefits. Based off what I've researched so far, is the following correct, assuming that my wife and I each have our started own businesses:
Are we going in the right direction? Or are we overcomplicating things? Could it be simplified to 3 total LLCs?
With my and/or my wife's LLCs "paying" our children up to $12,000 each a calendar year. [link] [comments]  |
| Is it bad to give this information out for payment Posted: 11 Aug 2021 06:06 AM PDT Alright so a person is trying to buy my ps5 with some perifrase and games. She offered to pay for shipping and everything because she is out of the country. She is asking for my iban, full name and email address. Is this actually needed for the payment? I have never done such thing before. This situation is taking place in the Netherlands Thanks in advance update: i said i wanted to use paypal, she didn't want that and insisted on using my bank information. i thought it was very suspicious and used an IP logger that looked like my bank site. she finally clicked on it after refusing it 10 times and i found out she was actually a he. he lives in nigeria and i got a lot more information but i won't share that on here. decided to cancel the deal. ty for answering my questions [link] [comments]  |
| Need help in regards to my credit score and a class action lawsuit regarding a C/O CC account Posted: 11 Aug 2021 05:41 PM PDT Back when I was first getting my student loans (+ checking account, etc.) I was unknowingly signed up for a student credit card through Wells Fargo. I then ended up with a hefty credit card bill (that was heavily increased through a weird loop in their computer/fee system) and was unable/unwilling to pay it off. In a childish (and very regretful) moment I decided to just ignore the whole thing and let the account accrue interest without doing anything (eventually they stopped trying to contact me). About 8 months ago I received a letter (and settlement check) in the mail in regards to this account. In the letter it says >"Wells Fargo has requested reporting agencies delete records related to closed account(s), credit inquiry(s), and/or delinquency(s).". Fast forward to today and after checking my credit score it is still showing this charged off account on my records (and is obviously still tanking my credit). Am I misunderstanding what the quoted text means? If not, who do I contact to get this account taken off of my record? [link] [comments]  |
| How to deal with sudden wealth guilt after getting a job that pays well? Posted: 11 Aug 2021 05:10 PM PDT Throwaway because my partner reddits and I'm not ready to talk with them about this yet. I'm 30 and recently moved away from foodservice and into tech. As you may know, foodservice workers got a big shaft in pay when restaurants had to close and we weren't making tips. Moving into tech, I make more money in a year than I probably have since I started working. This is scary to me. I've followed the flow chart and maxed out my employer contributions. I have an emergency fund that will pay my rent/bills/food for a year. Half of my paycheque goes into savings account (I'm still researching the best way to invest) but I still have 50k USD for spending at the end of the year. This is a far cry from making 20k a year. My guilt comes from living with my partner. They moved in in the onset of the pandemic because I was going to be homeless without work, and they hadn't decided to boost unemployment, or put a moratorium on eviction. They have been paying around 70% of the bills until I moved into this new position. I've been paying all the bills since then. I've now enough money to buy a 30k car outright, but I feel guilty doing that. It feels wrong. Is that normal? How do people cope with that? [link] [comments]  |
| Posted: 11 Aug 2021 12:00 PM PDT Hi, I'm a 23 F and my mom (single mom) is planning on retiring at her current age of 54 only having contributed to her work retirement plan for 13 years. She owns her house with no mortgage (~800k). As of right now she hasn't retired yet but took a year off work to care for her family member. The reason she's retiring now is caring for this family member abroad. She plans to stay there until this family member passes away. She's eligible to receive ~730 a month for life starting November 2022 from her job. This will be her only source of income until old age government benefits for which I'm assuming she won't receive much as she's only worked full time for 13 years of her life. I'm lost on what to do. She wants to rent out her house but it needs a lot of money to fix it, roughly 20k. I have 2 brothers: me and my youngest brother are going to move in with our dad if the house is able to be rented out. My other brother due to his crimes is unable to live with us. He's also broke so we'd have to rent him a room. My dad is willing to let us move in with him but that's the extent of his financial support. So my mom and my 20y bro finances are in my hands. Right now I'm paying all the bills for the house + property tax but I don't make much. If the roof needs repair or the furnace gives out I don't have the capital to cover it. The financial burden of my moms situation and my 20 y brother who was in and out of jail is really weighing heavy on me. I'm still in school and work part time and I have siblings who don't care about this situation and I feel like the whole burden fell on my shoulders. I can't convince my mom to come back she's already decided to retire to care for her family member. I'm in need of advice of on what to do. The country she's in right now is very very low cost of living (war torn country) so her 730 dollars will be more than enough for her and her family member. But what about the house she's leaving behind that needs a lot of money? Even if we did rent it out I'm stuck with the burden of it for life. She made it clear she does not want to sell the house . I've also planned my life and was planning on being on SAHM continuing to work part time. That's always been my dream I worked up to. But now I feel like I have to drop my studies, work full time to fix the house up to rent so my mom gets more income. Due to my faith I can't abandon my mom so that's not an option, just stuck on what makes the most sense right now. Any advice or help is appreciated. [link] [comments]  |
| Old medical debt I just found out from checking my credit score to rent a house Posted: 11 Aug 2021 02:43 PM PDT Hi I just recently found out my credit score tanked severely from old medical debt, I have three in total
2&3. Both are from appointments done to run several tests in mid 2019, I was tough on money and my pops said he would help me with those but I guess didn't. What are some things I can do to save my credit? I looked on credit karma and these three things is what weighing down my credit. My fiancé and I were ready to move out of our current place, but it doesn't seem possibly now since most places that meets all of our needs do not want a co-signer. [link] [comments]  |
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