Personal Finance Always question your medical bills! |
- Always question your medical bills!
- Be careful about making excess contributions to your pre-tax commuter benefits program
- Financing a motorcycle at 18. Lots of fun, or lots of financial suffering?
- 21 y.o. with high cancer risk-- should I get cancer insurance or some other kind of supplemental policy? + how to make sure I'm not getting screwed
- Overcharged at gas pump, Citibank says they can't issue credit because merchant won't cooperate
- Upside down on Motorcycle loan
- Credit card "lost" points and won't reinstate them
- Credit card nonsense
- Need reassurance about keeping money out of the market
- What should I do after someone opened a couple credit cards in my name? I already froze my credit files, and luckily they didn't make it to activation.
- Health Insurance: $600/mo and $15k deductible at 22 years old. Sounds like robbery?
- Are these good rates of return? Help for the very financially illiterate...
- Thinking about walking away from a house I just bought, and losing 40K+ in the process.
- Should I sell all my mutual funds and invest the proceeds strictly in Vanguard Index Funds VLCAX & VTWAX?
- Is there a penalty if you overfund your HSA for the year
- We want to buy our first home but my 609 credit score won't go up!
- Paying off Student Loans vs. Emergency Fund
- Switching Jobs While Refinancing Home Loan
- Where do I pay my mortgage?
- Should I purchase this condo in NYC?
- Should I cancel my first card?
- 401k stay in market dump everything in Moneu Market
| Always question your medical bills! Posted: 29 Sep 2021 10:18 AM PDT I had two fillings replaced about a month ago. This was my first time at this office and the staff and dentist were great, no complaints there. I did have to pre-pay the estimate of my balance which I had never had to do before, but the math made sense (they charged $220/filling, my insurance covers 50%, so I paid $220 that day on my credit card). A few days ago I got a bill for another $300. Confused (and never in my life having to pay $500+ for two fillings when I have insurance) I called the office and asked for an explanation. They acknowledge that there was something wrong with the billing and what the insurance paid out, and they would get back to me. They looked into it and it turns out that the office actually owes ME $80 and will be cutting me a check. Point of the story is if I didn't question the bill, I'd be out hundreds of dollars. It never hurts to ask when something seems off! [link] [comments]  |
| Be careful about making excess contributions to your pre-tax commuter benefits program Posted: 29 Sep 2021 07:14 AM PDT If you contribute to a pre-tax commuter benefits program through your employer, be careful about over-contributing. If you are like me, you may have transitioned to WFH and forgotten to lower or end the contributions. In my state, if you change jobs, there is NO way to extract the excess contributions. The program sets a monthly spend limit so you can't simply spend them down all at once on a huge metro card or something like that. You would need to do it gradually over months, which is problematic if you switch jobs. [link] [comments]  |
| Financing a motorcycle at 18. Lots of fun, or lots of financial suffering? Posted: 29 Sep 2021 07:08 AM PDT Im 18, getting my motorcycle license in 3 weeks, and want to get a bike. The dealership near me has the bike I want used for $6,500, but I only have about $1,250 to put down up front. So I would have to finance the rest and it would be about $130 a month for 4 years. But I don't know if I want to dive into a 4 year long commitment right now. I could pass up on the great deal and just get a cheaper bike new for $5k and it would be ~$160 for only 2 years, but it's a decent downgrade. Also winter is coming so I probably won't have a whole lot of riding time If I buy it now instead of waiting until next spring. Another thing to note is I have a honda civic leased right now which is paid for by my mom, and it ends in 2 years meaning I'll need to save up to buy a new car. Considering insurance, gas, parking space, maintenance, and loan payments, the total monthly cost of the bike would be about $285 per month. Plus my current bills which are $130 per month, which comes to a new total of $415 per month. I make anywhere from $800/$1,200 per month at my job, which means the total bike cost alone is about ~23/35% of my monthly income. Is a 4 year motorcycle loan crazy for an 18 year old? I know that if I invested the money instead I would have a lot more saved up after the 4 years, but I can't imagine myself wanting to ride a motorcycle when I'm older and have a fulltime job and more responsibilities so it feels like this is the prime time to do it. Should I opt for the cheaper bike and get only a 2 year loan? TLDR - Should I finance a motorcycle (about ~23/35% of my monthly income) for 4 years at 18 yrs old? [link] [comments]  |
| Posted: 29 Sep 2021 07:26 PM PDT Background: I (21 F) was diagnosed with the BRCA1 gene mutation back in 2019 (if I need to submit proof I have my medical records), and have a long family history of cancer. If you want to read more about the condition you can here. But the tl;dr is that I have a ~72% chance of developing breast cancer and a ~50% chance of developing ovarian cancer before age 70, along with a less significant but still increased risk of others including ones like peritoneal and pancreatic. Most of the women in my family to develop cancer were in their late 40s or early 50s and they all died, and it's absolutely not unheard of for women with my condition to develop cancer in their 20s. All the women in my family who have the gene have gotten cancer except my mom, who had several preventative surgeries in the mid 2000s. I'm engaged and am mostly financially independent, although I'm still on my parents' health insurance until I get married in about a year. I'm pretty healthy, no other health conditions. We're both very money conscious people and I want to make sure we're not going to be absolutely fucked if I get cancer when I'm 25, especially if I die or can't work. So I guess this is why I'm here: in the event I get cancer and can't work or die, I want to make sure my partner and I are avoiding as many financial disasters as possible. I know that having some sort of supplemental policy will bring me peace of mind, and I'm already planning on getting life insurance soon. But I want to know if getting a supplemental policy is actually a smart decision at my age given my condition, and how to make sure I'm covered in the event I develop cancer, (of course mainly meaning cancers linked to my condition). I've also heard of long term disability insurance, and my mom was told by a woman she knew who had cancer (unfortunately died) that it was a good investment. This is a fairly emotionally difficult topic for me, so I don't want my decisions to be clouded by the stress of this. If anyone has direct experience with this, your input is greatly appreciated. If this seems like a smart move, I have a few questions: Should I talk to an independent insurance agent? Should I shop around on my own? What sort of policy (if any) is best for my situation? How do I make sure I don't get screwed? Should I tell an insurance company exactly why I'm looking for coverage? Is this likely to be considered a pre-existing condition, and what does that mean for me? I understand y'all can't tell me as much as an insurance company/agent can, but any advice is appreciated. [link] [comments]  |
| Overcharged at gas pump, Citibank says they can't issue credit because merchant won't cooperate Posted: 29 Sep 2021 10:51 AM PDT (US) First off, just to be clear, this is not a pre-authorization charge. Last month, I filled up my <12 gallon tank at a Texaco and was charged exactly $80 for the transaction. It should've been closer to $25, but unfortunately I didn't keep the receipt. Once it cleared, I opened an incorrect billing dispute with my card issuer, Citibank. After awhile, they posted a letter to my account saying it was resolved in the merchant's favor, and that the merchant's response was enclosed (which it wasn't). I wrote back and included a copy of my car's manual indicating the tank capacity, hoping that common sense might prevail. After another delay, I received a response from Citibank: "We previously credited your account for this charge. The merchant will not honor our request for credit based on the information you provided us. Every effort has been made to secure credit for your account. Since we are unable to obtain compensation from the merchant, your account has been rebilled." I'm not sure where to go from here. I'd always heard that these things usually work out in the cardholder's favor, especially if the merchant can't provide evidence that I received $80 worth of gasoline. Should I reopen a dispute indicating fraud, rather than a billing error? Or is there an agency of some sort to report this to? Any help appreciated. [link] [comments]  |
| Upside down on Motorcycle loan Posted: 29 Sep 2021 09:22 AM PDT I'm young and bought a 2021 Iron 883 in July with 6 miles on it for $13k(I know bad deal). I grew out of it quickly and want to trade it in for something used. I've got a quote from a few dealerships about a trade in value from 7,700-7,900. I'm upside down on my loan owing $8000 at 11.9% for 72 months through the dealership. I put $4k down when I bought it and I've made roughly $1050 in payments always paying off more than the minimum ($187) every month at about $400. My question is, could I trade in the bike at another dealership for a different bike at $10k OTD with all the fees and finance through my bank or go through a credit union? Original dealership told me they could only get the original loan at 11.9% because I've never financed anything before, but I think that's BS. Edit: I'm keeping the bike and will be adding aftermarket parts. I appreciate the advice everyone gave me. [link] [comments]  |
| Credit card "lost" points and won't reinstate them Posted: 29 Sep 2021 02:09 PM PDT My mom has a Gap Visa store card. She had over 200,000 points (about $2000 that can be used at Gap company stores). Gap recently transitioned over to a new rewards program but their FAQs clearly state that you'll keep any points earned prior. Well that didn't happen. All her points were wiped out in the transition. She's called both Gap customer service and the Visa Card customer service. Both say there's nothing they can do about it. What are her next steps from here? Just keep calling and hope you get someone you can actually help? Getting the FTC or BBB involved? Cross-posting in r/creditcards [link] [comments]  |
| Posted: 29 Sep 2021 10:19 AM PDT I [37M] have been with the same bank since I was 19 years old and I've had a credit card with them since I was 21. I've always carried a relatively small balance on it and paid it off with automatic payment of minimum+$10 over a couple of months. Sometimes I would put more on it and pay it off as I could. My credit limit had always been $500, despite years of repeated requests to raise it, almost 20 years of utilities, 15 years of direct deposits from one company, many years of good credit history including 2 paid off car loans, and a credit score a few points shy of 800... Today I saw that they finally raised it to $1500. Gee, thanks guys. $1500 is not that much better than $500 in the event of an emergency... I don't want to cancel the card because of the long credit history with it... and I highly doubt they're going to raise it anymore. My wife [37F], has a limit of $4500 with a different bank where we also have our homeloan (in her name). I'd like to try to get a card with them, or the credit union where I had my car loan, but I don't want to affect our credit score as we're about to buy a newer car for her when the covid craziness dies down. Should I fight with them again or shop around and get an emergency card from somewhere else? Once I have the card raised, or another bank's card, how should I use it to maintain my score? [link] [comments]  |
| Need reassurance about keeping money out of the market Posted: 29 Sep 2021 05:04 AM PDT I want to buy a house but only make about 45k a year right now . In order to purchase a home I have to rely on my savings to put down about 50%. I've saved alot over the last 6 years but with homes skyrocketing it's always out of reach. I live an hour outside of Toronto. Ive kept my money out of the market because we have all been told not to risk money you need in 5 years but it hurts too see a huge pile of money do nothing for years hoping the housing market will atleast level off so I can catch up. Or maybe a property will pop up I can grab with my budget. I can probably afford a 300k home max. Which I cannot find in southern Ontario. I can invest my money and then have the market crash , which will also drop the housing market possibly but then I won't have as much money to use because my investments tanked too , so zero sum game . [link] [comments]  |
| Posted: 29 Sep 2021 03:00 AM PDT |
| Health Insurance: $600/mo and $15k deductible at 22 years old. Sounds like robbery? Posted: 29 Sep 2021 07:28 PM PDT Hello, I've always been on my Mom's health insurance but apparently because I own a business and make too much money, I am being kicked off of it. So I've been searching for my own health insurance and today I got quoted $618/mo and $15k deductible as a catastrophic plan or whatever they call it. If I want to bring down the deductible, it will be $954/mo and $7500 deductible. I am a healthy 22 year old with no health problems besides an allergy to wheat lol Am I crazy or is this stupid expensive? Luckily I am able to write off my premiums per month but either way, I think this is crazy.. *EDIT: I am healthy, skinny, no drugs, no drinking, no high BMI, like Idk. Just sounds absurd. I'm in California but moving to NYC in a few months* [link] [comments]  |
| Are these good rates of return? Help for the very financially illiterate... Posted: 29 Sep 2021 06:24 PM PDT Note: I did try to read the wiki to learn a bit, but I went cross eyed trying to find what I was looking for. I appreciate any help you can give. Hi! My wife and I never had a lot of money. In fact, we were in a lot of credit card and student loan debt until very recently when we were able to sell a house for a profit and take care of that debit. It was blind luck. We also had a little bit of money to save, so we got a financial advisor. We've had the account since April 2021, and I am not sure if the accounts are doing well. Here's what we are looking at. Can you tell me if this looks ok or if we're getting screwed? Roth IRA: We contributed $25,100 in April/May, and it has gained $50. "Moderate Growth" multiple strategy account: We contributed $9,000 to launch the account, and we've since added $2,000 through monthly contributions. Besides the money we have contributed, it has gained $293. So I really don't understand rates of return. I really feel dense with it. Can anyone just tell me if that looks normal? Thanks so much. I'm getting anxious even trying to understand this stuff. [link] [comments]  |
| Thinking about walking away from a house I just bought, and losing 40K+ in the process. Posted: 29 Sep 2021 03:15 PM PDT I made a serious mistake. I'm 28. I sold my childhood home for 160K. I had 155K in the bank @ that point. I bought a house (that I think I overpaid on) for 230K, I put 70K down. I went from owing 12K on the childhood home to owing 160K on the New Home (I beat myself up for that one). Then, I realized I don't really like the house. It need's a lot of work. It needs a new roof. It need's drywall done, etc. Then, I realized the prospect of staying @ my current job for the next 30 years depressed the crud out of me. I'm being offered the opportunity to live an RV, go to school, and essentially be a hippy for awhile. (I know, this sounds so millennial.) I put my house on the market, and I know I will take a loss if I sell it. I listed it for 240K. I have an offer on the table for 200K. It's a BIG loss, I know. If I roll the dice, and go chase my vague dreams, will I be able to recover from this? I have 60K in cash, 20K in APPL stocks, and 30K in 401K. [link] [comments]  |
| Posted: 29 Sep 2021 07:17 AM PDT Hi, I have a variety of mutual funds in my 401K which have much higher expenses than the Vanguard Index Fund options. Should I consider selling all of them and strictly investing in the Vanguard Index Funds (VLCAX & VTWAX)? These are the only equity Index Funds available in my plan, there is also an intermediate bond fund (VBILX). Funds below I'm considering selling to move everything to VLCAX - Vanguard Large Cap Index Adm & VTWAX Vanguard Total World Stock Index Adm: CSEIX - Cohen & Steers Real Estate Securities A REREX - American Funds EuroPacific Gr R4 MVCHX - MFS Mid Cap Value R3 FSSRX - Franklin Small Cap Growth R OTCHX - MFS Mid Cap Growth Fund R3 I wanted to be diversified, so I chose all these funds. But after reading this sub and doing some other research it seems the low fee index funds are favored time and time again. Any advice would be great. Thank you. [link] [comments]  |
| Is there a penalty if you overfund your HSA for the year Posted: 29 Sep 2021 07:19 AM PDT Hello PF, I switched jobs mid year, and was enrolled in a HDHP plan in both my previous employer and current employer. Im confused by the new payroll system at the new gig and getting concerned that it may get overfunded. Are there penalties or is it just paying the owed taxes if this happens? TLDR: what happens if I contribute more than the $7,200 come tax time [link] [comments]  |
| We want to buy our first home but my 609 credit score won't go up! Posted: 29 Sep 2021 06:45 PM PDT I'm a 32F with 609 credit score, 23% utilization but 5 credit card late payments (already tried goodwill letters, didn't work) and 23 late car payments in 2019 (also wont accept my goodwill letter) and 2 collections, one of them for medical expenses that I just paid off. Any suggestions ? I'm desperate. Thanks [link] [comments]  |
| Paying off Student Loans vs. Emergency Fund Posted: 29 Sep 2021 07:47 AM PDT Hello All, With Covid suspending student loan payments, I had somewhat forgotten that they existed. That is, until recently, when I received an email about resuming payments in January. This got me thinking about repaying them entirely but I'm so uncomfortable laying out so much cash at once. I wanted some advice on what the best course of action is. My current financial situation is as follows (Including my wife and I here): Current Combined Income: ~$130k per year Total Liquid Savings: $55,000 Total Student Loan Debt: $56,103 Average Student Loan Interest: 6% We have no other loans aside from a $200 car payment and an $1100 mortgage payment. Obviously we have other standard bills as well but nothing major. Is it best to pay off all or at least a majority of our student loans and leave ourselves with just a few thousand in the bank? Any advice is appreciated. Thanks! Edit: I read all the comments and I appreciate the great advice. I'm going to put a large amount of our savings into paying off the loans (highest interest first) and then start aggressively paying off the remainder. Thanks again everyone. [link] [comments]  |
| Switching Jobs While Refinancing Home Loan Posted: 29 Sep 2021 07:47 PM PDT I am trying to take advantage of the low-interest rate so I am thinking of refinancing our home loan. Based on this article, can I switch job AFTER the home loan is done? Because I heard somewhere that there is like some 6 month payoff period but I am not sure if this is still part of the home loan refinancing process. [link] [comments]  |
| Posted: 29 Sep 2021 07:10 PM PDT Hello, I purchased a condo recently in June. For the first two months, I was making payments direct to the mortgage company I used when I bought my condo. I got a notice this month (a Freddie Mac notice) that my mortgage was sold and it listed the new servicer. I assumed that at some point I'd get information on how to pay with the new servicer... nope. Am I supposed to continue to pay through my original mortgage company? How does this work? [link] [comments]  |
| Should I purchase this condo in NYC? Posted: 29 Sep 2021 07:06 PM PDT Hey, So, I'm currently 25M in NYC, born and raised here. I make 120k base salary and safely get about 40k in bonuses per year (paid out quarterly), and I work fully remotely. I have no debt except <1k in credit cards. My mom passed away and left me a little over a million dollars, so combined with my other savings, I have a net worth of approximately 1,350,000. 700k is invested in an inherited 401k (meaning I can pull it out anytime within the next ten years and have it taxed as normal income), ~100k is in retirement accounts, and ~300k is in a brokerage, and I'm holding ~200k cash. I'm eyeing a condo right now in Williamsburg that is going for 1,000,000. It's in tax abatement until 2035, so if I put 20% down, the estimated payment is about 4k a month. Thoughts on buying it? On one hand, I like the lack of work required in letting my investments grow (currently everything is invested in ETFs), but on the other hand, owning an apartment in the city that I consider 'home' seems like it wouldn't be the worst idea and I think the neighborhood will continue to go up in price. Wasn't sure if it'd make more sense to rent, a 3k apartment or something, but this one is quite nice and I was thinking it might go up in value. Never was in the place where I could afford an apartment and wasn't sure if this would be a decent financial decision versus getting entranced by the idea of home ownership, lol. [link] [comments]  |
| Should I cancel my first card? Posted: 29 Sep 2021 07:05 PM PDT I open my first credit card two years ago. The credit line is $300 it doesn't have any cash back rewards. I opened a 2nd card that is cash back with a line of $3,000. I've paid off loans in the past and don't want to keep this first card with a low credit line. Will it hurt my credit score? I'd rather have the one card. [link] [comments]  |
| 401k stay in market dump everything in Moneu Market Posted: 29 Sep 2021 03:13 PM PDT Just looking for thoughts. I am 4 -5 years from retirement. 401k is at a tiny bit over a million dollars. Not great but hopefully good enough. This will be the main retirement source of income. My main question is should I just dump it all in a money market fund. Current mix is 70% stock, both US and international, rest is bonds. Markets are just a little too crazy right now to be comfortable. Just feel like stocks are do for a correction, interests rate have to go up but god knows when. [link] [comments]  |
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