Personal Finance Weekend Discussion and Victory Thread for the week of September 03, 2021 |
- Weekend Discussion and Victory Thread for the week of September 03, 2021
- Is my $45,000 Masters Program Worth It?
- I believe my address is being used to receive stolen goods, not sure what to do
- Your Employer Can Pay $5,250 Annually Towards Your Student Loans Tax-Free Until 20
- As a minor how do I seperate my money from my mothers
- Advice paying off loan to my dad
- Car with insanely high APR
- Howdy! Short on rent for the first time and interested in any advice.
- Tips to stop living pay check to pay check?
- Should I leave my current job for a potentially higher paying job if that means paying back my tuition reimbursement?
- Whole Life Insurance Policy from Grandmother
- Lost two cars in the span of a week questions about insurance
- Should I just wait out the housing market?
- Tiny medical bill just sent to collections—can I get hospital to pull it back or should I pay collection agency and ask them not to report it?
- Subleasing with “ex-friend” - Utility Bill Confusion
- Denied Costco Citi CC Because I blacked out my employee ID Field when I sent in my most recent paystub. They want to pull my credit again because it is over 30 days.
- Help. Family sold car, new owner sold car to another person but with the same original title. Car is now impounded and family is getting notice of charges?
- How do you do a mass transfer out of your savings account?
- Dealing with Fraudulent Check and Scam
- How did you avoid financial traps in your early 20's, 30's & 40's?
- Difficulties with transfer
- Where to store down payment for house, 2-3 year timeframe?
- Roth & 401k questions
- Spouse about to start new job, can I take her off my health benefits?
- Is it a worthwhile investment to get central A/C for my condo?
| Weekend Discussion and Victory Thread for the week of September 03, 2021 Posted: 03 Sep 2021 02:00 PM PDT If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| Is my $45,000 Masters Program Worth It? Posted: 03 Sep 2021 07:57 AM PDT Im 22 (M) and in my current job I make $40/hr. I was thinking of attending a masters program that will last 18 months and it will cost $45,000 for tuition. Once i graduate starting pay will be $75/hr. Should i bite the bullet and go for it? [link] [comments]  |
| I believe my address is being used to receive stolen goods, not sure what to do Posted: 03 Sep 2021 04:32 PM PDT Recently I've had a large influx of packages delivered to my place with some key identifies that lead me to believe that someone is stealing cc info and picking up the packages from my place. I currently intercepted a few packages but I'm not sure what I'm supposed to do. [link] [comments]  |
| Your Employer Can Pay $5,250 Annually Towards Your Student Loans Tax-Free Until 20 Posted: 03 Sep 2021 12:58 AM PDT https://news.yahoo.com/employer-pay-5-250-annually-153402898.html According to the provision, an employer can make up to $5,250 in student loan payments for an employee within a year either directly to the employee or the student loan servicer. This money is considered tax-free, meaning that the employee doesn't have to pay income taxes on up to $5,250. Additionally, the employer also receives a payroll tax exclusion on that amount. Originally intended to end in 2020, the program was extended through December 2025 under the Consolidated Appropriations Act. [link] [comments]  |
| As a minor how do I seperate my money from my mothers Posted: 03 Sep 2021 06:40 PM PDT I'm a 17 year old girl. I have a job, and checking account, and a savings account. My only problem is that all my money can be accessed by my mother. She's horrible with money, along with things, and is always messing with my money whether it being needing to borrow money all the time or just taking my money. If i don't want to give her any she either guilts me into doing in or take my money via the capital one teen money account set-up. I'm trying to save up for college application fees, a car, and stay on top of paying for my cats health insurance while having some type of disposable income. How can I keep my money safe from her and stay on top of paying my bills on time? [link] [comments]  |
| Advice paying off loan to my dad Posted: 03 Sep 2021 06:11 PM PDT A few years ago, my dad lent me about 5K to move to a larger city to pursue a career opportunity after I had graduated college. It all worked out and he never mentioned it, until now that I recently got a raise and he brought it up, saying he wants to talk about me paying him back. I have no issues with this and believe it is the right to do, but I'm wondering if it makes sense to take the money out of my emergency fund (15K) and pay him back all at once, or if I should take him up on a payment plan that he expressed interest in doing. He's not charging me any interest or anything, and the only reason I'm considering paying it off at once is so that I can focus on my student loans while settling that debt. What do you all think? [link] [comments]  |
| Posted: 03 Sep 2021 04:07 PM PDT Hi! I'm 20 and earlier this year (when I was still 19) I bought a 2016 Ford Focus. I was pressured into by my parents because I needed the car at the time but now I'm stuck. The loan is for 9,300 and I still owe 8,700. The real kicker is that the apr is 18.49%. Yeah. I made the fatal mistake of listening to my parents and I should have known better but now I don't know what to do with it. I tried to refinance it today but got turned away for lack of credit and work history. My payments are nuts too and I had to split my down deposit because my parents bought a car at the same time from the same place. No one really knows what to do. Please help :( [link] [comments]  |
| Howdy! Short on rent for the first time and interested in any advice. Posted: 03 Sep 2021 06:33 AM PDT I recently had to find a new job and I have way more bills than I can handle. My new job just payed me but it wasn't enough, my next paycheck is 9/15. I am now short on rent and it's due today. I will attempt to talk to my landlord and let her know of my situation, any other advice will be helpful. [link] [comments]  |
| Tips to stop living pay check to pay check? Posted: 03 Sep 2021 06:24 PM PDT I hate living like this and barely being able to put anything into saving 1 missed check from work and my world would flip how do I break this cycle? [link] [comments]  |
| Posted: 03 Sep 2021 12:57 PM PDT I got about $2,200 as tuition reimbursement through my current job as a lab assistant at a hospital making $13.93/hour. I got a job offer this week for a parts advisor position making base pay bi- weekly $1,000 + 2.5% of gross parts sales every month. They said in the interview that the average parts sales per month was about $50-80k. I do not have the money to give back to my current job if i decide to leave. The HR manager scared me and said they could send the balance to collections if i didn't pay it pretty quickly if i quit. Should I stay until the year of that reimbursement contract is up then look for another job? Should I leave and try to work something out/ get a loan to pay them back hoping they didn't lie to me about the pay and i will legitimate make more? From what I can find online, a parts advisor position should be an average of $40k a year so I'm inclined to believe them when they said I would be in the 40s. Thanks for reading any advice is appreciated. Edit: thanks for all the perspective on this. Some more background: i have 4 years of experience at an auto parts store as a key holder, a degree in math, and physics. This position is at the largest auto dealership in the county, which is why I feel inclined to believe the salary estimate to be legitimate. I guess the reason why I feel like i need to be sure sure is because I've never made more than $25k a year so to hear an offer that's almost double that I am very excited but also trying to keep my expectations in check Once my background check and references check out and i get a call back, i will mention this tuition reimbursement issue and see what if anything they would be willing to do. As others pointed out, at even 50% of the lower estimate for gross sales I would make more at this new position, so I feel more inclined to accept if all the fine print checks out such as quotas. As for the turnover rate, I do already know some employees of the dealership through car meets and may teach out to them and ask if they know anything else about the position. [link] [comments]  |
| Whole Life Insurance Policy from Grandmother Posted: 03 Sep 2021 03:26 PM PDT My grandmother opened a whole life insurance policy for me when I was a baby, which I have now taken control of as an adult (late 20s). It's not a large policy, only $20k, and the monthly premium is $18. My family members said "it's only $18/mo, just keep paying it and leave it alone", but I can't help but look at this and feel like my time and money would better be spent investing in other ways. $18/mo over the course of 90 years is just a little shy of $20,000... so really all that's happening here is by the time I'm 90 I will have just paid the same amount that I'm getting as a death benefit. Seems like kind of a colossal waste of time to me. And the cash investment portion of the plan is surely invested in a very conservative portfolio, when my age should dictate something much more aggressive. Seems like I'd be better served by cutting my losses now, surrendering the plan and taking the current cash value (around $4.5k) and just adding it to my current investments (right now I use Wealthfront to auto-invest in a diverse but aggressive set of index funds). Unless I'm missing something? My employer provides life insurance already, and even if I wasn't employed at the moment my investments would cover my student loans and I don't have much other debt besides that. [link] [comments]  |
| Lost two cars in the span of a week questions about insurance Posted: 03 Sep 2021 06:59 AM PDT On Saturday night I parked my car in front of my house where it was hit by a car and very likely will be totaled.The driver drove off as I was running outside. They found the car and the driver admitted to causing the accident (he said he swerved to avoid a small animal in the report but there were no brake marks on the road at all). The car is a 2008 Nissan rogue that is full paid off with liability coverage and the driver that hit me has insurance Fast forward to Wednesday night my wife was at work during the Ida leftovers and driving home her car was disabled by the flood. She made it to a relatives house and the car was towed to the temporary impound lot set up by the town the next morning. I got it back yesterday (to the tune of $525 for the two block tow to a supermarket parking lot repurposed as an impound lot) It seems to be another total loss. It is a 2016 town and country with about $12,850 left on the loan and I have 25% loan payoff on my insurance + comprehensive coverage. I've filed claims on both vehicles and I'm waiting for the adjusters to come check out the cars. Is there anything I need to know that can help me navigate this it's all kind of overwhelming. [link] [comments]  |
| Should I just wait out the housing market? Posted: 03 Sep 2021 06:38 AM PDT I'm currently working full time and trying to get a house. I want to rent out the extra rooms to help with bills. I'm only able to buy a house right now through USDA or FHA, and really with FHA I need down payment assistance. At first I was trying to get a sellers concession but that seems highly unlikely in this market. I pretty much have jussst enough money to make this work. I'm thinking things will be much easier if I wait out this crazy market, but I want to stop renting and get some renters too. I feel like I've had a hiccup every step of the way and it wouldn't really be like this under normal conditions, but again, I'm eager to stop renting. Thanks for any advice in advance [link] [comments]  |
| Posted: 03 Sep 2021 05:30 PM PDT I missed several notices about these two bills totaling less than $100 from the same large medical system following the birth of my child. Opened old mail today, made some calls, found that these bills were both sent to a collections agency three days ago. The medical system rep said I could pay him and he'd forward the payment to collections. I asked if he could pull the bill so I could pay the hospital directly, so it wouldn't damage my credit, and he said no they'd just forward the money to the agency. I said I'd call back. I tried to reach the collections agency but their numbers led to a voicemail menu loop with no access to humans. What I'm wondering is if I should A) keep trying on Monday to get the medical system to pull back my bill and take my money directly out of the goodness of their hearts, or if I should B) go ahead and pay the medical system with them forwarding it to the collections agency, OR if I should C) talk directly to the collections agency about whether they've reported my debt to the credit bureaus yet and whether they'd agree not to for payment in full. Between B or C, is one likely to be more favorable to my credit score not getting dinged? Is there any hope of A or advice in getting medical provider to claw back the bill from collections? I've had it done once before with another provider when there was some insurance confusion leading to late payment. [link] [comments]  |
| Subleasing with “ex-friend” - Utility Bill Confusion Posted: 03 Sep 2021 11:06 AM PDT I began renting a room and moved into a house on August 1st. Long story short, the friend and I were already on the fritz but after speaking with him it seemed like things could work as roommates and I desperately needed a place to rent, short-term. We didn't have a contract or anything of the sort, but I moved in August 1st and moved out August 31st. He charged me for a month's worth of PG&E on August 9th. I paid the bill even though I had only been living there 9 days, and he was technically billing me for one calendar month. When I moved out he sent a reminder that he would be sending the PG&E bill again when it comes in on September 9th. My question is, do I have the legal right to refuse? Essentially, he's billing me for 2 months of PG&E when I only lived there for a month. Just trying to see what my options are, and make sure I'm not in the wrong if I refuse to pay for 2 months when I only lived there for one. It's just that the billing schedule makes things a little murky? [link] [comments]  |
| Posted: 03 Sep 2021 11:23 AM PDT Citi Costco card communicates entirely through mail and each mail correspondence takes ~1 week. I sent in my application August 1 and about 1.5 weeks after they mailed me a letter asking for my paystub. I sent them 2 paystubs, one from my previous job and the 2nd from my newest job but with my employee ID blacked out (which arrived ~1.5 weeks too). Apparently this technicality voids my paystub and I was denied for that reason. When asked if I can send another paystub without that black out, they said it was already over 30 days and that they will need to pull my credit score again. Is it really like this? Perhaps I was being too safe. But I can't believe they have to pull my score again in such a short period. My credit score is over 800, will approving another credit pull affect me heavily? (2 in the span of one month) Thanks! [link] [comments]  |
| Posted: 03 Sep 2021 07:02 PM PDT Sorry if this is the wrong sub to post this in but i have zero knowledge on cars/ titles and all the sorts. So a member of my family sold a car to another person. They signed the title over. That new owner sold the car to another person, using the same title my family member had signed on, meaning he never went to the DMV to get a new title in order for them to recognize the new ownership of the car. And upon selling the car, the person my family member sold the car to apparently signed in the wrong spot (they signed as an agency apparently) so when the person he sold the car to tried going to the DMV to get a new title they couldn't. Apparently they were in process of fixing the issue when the car got towed and impounded. Now my family member is receiving notices from the towing company about all this money being owed because the car is still showing up under their name. However, the car has since been under two new ownerships, and they don't have the title to even retrieve the car. We don't know how to contact the 3rd owner about this issue and not sure what to do. Everything was done in cash so there is no proof of sale. Can anything be done? [link] [comments]  |
| How do you do a mass transfer out of your savings account? Posted: 03 Sep 2021 10:49 AM PDT So I've been dumb, have about $40k in a savings account and want to transfer the bulk of it to a Vanguard account - $30k or $32k, but my bank says I can't transfer more than $1000 a week and $2000 a month out of the account. Am I being lied to, is there some other way to go about this, or do I just have to transfer super slowly for the next year? And what if I want to make a large purchase? What if I suddenly need $10k, is it just trapped in my savings and I'm sol? Sorry, I know this is a dumb question. [link] [comments]  |
| Dealing with Fraudulent Check and Scam Posted: 03 Sep 2021 07:47 PM PDT I'm a new college student, and was asked for a part-time job position through my school email. I found it weird at first, but I didn't think too much about it. I even attempted to research before going forward with the position, but I guess I didn't research enough. I saw a lot of red flags but today was the last straw when they asked me to send a huge amount of money through cash-app to a "supplier". I had already deposited the check they sent me, but have not sent any money myself. This experience has aligned with a common college scam for jobs when I researched again today, so I 100% believe it's a scam. I don't know what to do from here on out. What do I do about the possibly fraud check I deposited? Should I contact someone about this? Sorry if this isn't the correct subreddit, any help would be appreciated. [link] [comments]  |
| How did you avoid financial traps in your early 20's, 30's & 40's? Posted: 03 Sep 2021 07:01 PM PDT Hello all, I hope to make this very public to people in their early 20's, 30s and even to some in the 40s. To those who have great money management skills share with those who don't have good money management skills how you do it. I was watching a Dave Ramsey episode and the caller was freaking out because she had took $1,000 out of her 100k emergency fund. That episode opened my eyes and made me realize how so many people are living in different worlds when it comes to money management skills. Here is a great example of poor skills that those with great skills don't replicate because they know what how the "game" works. Lets create 2 people, Person A - Poor Skill and Person B - Great Skill. Person A gets a Job doesn't contribute anything to retirement, flaunts full pay and decides one day "why not, I'm making good money that BMW M6 with 100k Miles for 30 Grand sounds promising for 60 M/O 300 M/O. Person B - Makes good money but pays self first, Invest in retirement, 401k's, Kids 529, buys fractional/full shares of the stock market, putting money aside for the rainy day and lives below his means, bites the bullet and gets himself into a lease or drives an old paid off car that is reliable. Person A - After acquiring partial consumer debt, so far Car. see's all friends going out on Instagram and says hey "why not I'm making good money I want to go to Paris, London, Greece lets do it" Charges the international flights to credit cards for travel credit and after its all said and done they pay the credit cards minimum balance. While Person B - plans for these in advance, knows the monthly take home is still great but saves anyways for the trip, put it on credit and pays for full balance with travel fund that person B has been contributing to. Person A - Wants to go to a popular 4 year university on federal loan while signing that loan paper with magical interest rates with eyes closed for a job that pays less than his/her school tuition/loan amount. Person B - Goes to 4 year uni, applies to fed grants & scholarships, attends 4 year uni for a fraction of the average tuition and is going to school for something that actually pays either at same amount of the average loan or higher. To those who had bad money management skills to now having great money management skills tell us how did your life change after you made the change. Were you able to see the light at the end of the tunnel from it? There are many of people suffering from investing too much into liabilities rather than assets. Thanks! [link] [comments]  |
| Posted: 03 Sep 2021 08:09 PM PDT OK, I retired Nov 2020- I've moved money from my employer and an older Teamster pension to Capitol 1 360 IRA Savings. I am trying to move money to Allianz longer term money market fund. I was informed I need a Medallion Signature Guarantee - no one would talk to me without an acct., except Wells Fargo,(I have a credit card). Anyway, was turned down, for either lawful reasons,or Wells Fargo rules. They said it needs to go from a commodity to commodity resource (money market to money market , not savings to money market ). So, what can I do? In these Covid times, I have a hard time getting Cap 1 on the phone. I'm thinking to convert Cap1 Savings IRA to Cap 1 money market, but is this protected under tax law? Will they do this, since I want to withdraw most of my money? Is my next step to call them daily, hours a day , till I get thru? Thank you for your help. [link] [comments]  |
| Where to store down payment for house, 2-3 year timeframe? Posted: 03 Sep 2021 08:26 AM PDT I have begun saving for a house and aim to buy one in the next 2-3 years. Should I stick to cash in the bank for this timeframe? I feel like I could be missing out big with inflation. What do you guys think? [link] [comments]  |
| Posted: 03 Sep 2021 05:49 PM PDT Wanted to get serious with my retirement so wanted to ask. I have a 401k with my employer that matches up to 6%. But I also wanted to open a Roth account to boost up my savings. Should I open with fidelity through my employer or with my bank (chase) Or should I double my percent in my 401k? I just want to do some type of investment other than my 401k that can build up. [link] [comments]  |
| Spouse about to start new job, can I take her off my health benefits? Posted: 03 Sep 2021 12:17 PM PDT My wife is currently on my work's health plan, and of course, I'm paying extra in premiums. She's starting her new job soon, which also comes with benefits, but her job covers her premiums. Is it possible to take her off my plan before the enrollment period? I talked to my HR and they said only changes are allowed during specific situations, which are typically emergencies, or some other life-altering event like birth/death/marriage.... new job was not one of the reasons listed. Yet it seems this situation doesn't seem that rare. Do people just end up getting double coverage for a while? If so, is there any way to take advantage of this (get multiple pairs of glasses)? EDIT: one thing I thought of is FSA accounts. We allocated too little this year in our existing plan. Could we get double coverage with another FSA account at the new job? And what would be the deadline to use the money? Thanks [link] [comments]  |
| Is it a worthwhile investment to get central A/C for my condo? Posted: 03 Sep 2021 05:32 PM PDT I am new to home ownership and I would like some opinions on whether it is a good investment to add central A/C to my condo. The condo was built in the 1970's and has many older fixtures and appliances. It also has its own furnace and hot water tank, similar to a townhouse. I know that if I was to sell the condo, updating the bathroom and kitchen would likely be useful, but I like them as is and am planning on living here for 15+ years. My first quote for the A/C is $6,000 CAD, all costs included. Assuming I can afford this, is this a reasonable investment that would also add value to the condo? [link] [comments]  |
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