Personal Finance Credit Cards... please help |
- Credit Cards... please help
- First time filing MFS: who should claim our child?
- 401k plan suggestions???
- Feels like I’m always moving the financial goalposts
- father had stroke and mother is stressed about income
- Starting Career Roth IRA Contribution and 401k
- Needing investment/planning advice. Unsure where to begin.
- Downpayment Assistance
- Advice or experiences with 'Financial Tech Companies' // Aka A Bank That Isn't Actually a Bank
- Is it possible to get a home equity for a home that has no mortgage, but owner has horrible credit?
- Medical bill in dispute sent to corrections
- 67000 gallon water bill after water main replacement
- USPS Lost My New Checks
- "Renter Benefits Package"?
- Looking for some escrow help/guidance on how to handle not being screwed by 53rd Bank.
- value of donated items when using a tax preparer
- How to budget as a student with sudden increase?
- Do you get the "Qualified Business Deduction" if you are just doing 1099 independent contractor work
| Posted: 12 Feb 2022 06:54 AM PST So I have 3 credit cards that are all maxed out. Long story but my house caught on fire and I needed to replenish pretty much everything that I owned. One card has a $3000 limit, another $1500, and lastly a $500 one. My tax return this year can pay off the two smaller cards and then I could just pay on the larger one by itself instead on juggling multiple different cards. The larger one is the only card that has interest ATM or I could pay 2grand or so on the 3k dollar card and still have to juggle all 3 but pay less interest. What should I do? [link] [comments] |
| First time filing MFS: who should claim our child? Posted: 12 Feb 2022 07:36 AM PST Hi all, First time filing MFS for student loan/PSLF reasons. Have been filing MFJ for the past few years. We have one child. Who should claim the child? Excluding pre-tax 401k contribution, my husband made a little over 50k while I made ~85k (in box 1 of W2). Thank you. [link] [comments] |
| Posted: 12 Feb 2022 05:32 AM PST Hello, I am 21 years old and I would like to start a 401k plan. My job does not have a plan and I don't know what company would be best for a 401k ... any suggestions? [link] [comments] |
| Feels like I’m always moving the financial goalposts Posted: 12 Feb 2022 07:22 AM PST Don't get me wrong I really appreciate this sub and I think it's a valuable tool for learning, but sometimes I feel like all the effort and planning we talk about putting in, it's kinda pointless. It's essentially advice on how to climb a hill of sand. I started my first real job last year and immediately went to tight my belt so to speak. I wasn't exam spendthrift in college, my biggest expense was the luxury of getting takeout every other week and I socked about 75% of my income after the basic requirements into various savings vehicles, but I never really worried about it. I told myself I'd relax the stringent budget as soon as I hit the 6-9 month emergency fund window. I did that months ago. So then it became maxing the 2021 and 2022 IRA contributions while having a lump sum saved up to pay a chunk of my student loans when they resumed and that's going… well? I'm not sure if I'll hit the stretch targets but I'll hit the minimum goal soon. So I'm already thinking what's next. Up 401k from 10% to 15%? Start saving a house down payment? Probably should, by my estimate I owe my future self about $4 mil in today's money between retirement, buying a house and raising & sending the kids I don't have to college. Meanwhile, I'm spending 4%-10% of my take home income on my "wants" and I use that term loosely. This month I blew $150, which is the majority of it, on three pairs of dress shoes for work cause I had used the previous ones so heavily the soles had separated and usually most of it goes to "spending money at events to make pointless small talk with people I'll never see again and usually don't particularly like in some sort of vague gamble to find someone who likes me enough as a potential friend to text me back". And therapy. Gotta love spending a full day's pay after deducting taxes, retirement, and the things I need to live and taking an hour of my medical leave a week to go talk to someone about my feelings and hear them say "that's interesting" a lot. That really doesn't feel like a waste of money and yet I do it anyways. But the thing that really screws with my head is that for my age, area, and family situation, I'm upper middle class. It took a lot of hard work and luck to get here and I can definitely see worlds where things didn't or don't continue to go so well for me. I'm grateful for what I have, a job, my health, and a decent safety net. I remember not having any of those and I know plenty of people are forced to do without. I don't know I just wish I didn't feel like things like getting a cat didn't have to be a huge financial decision and getting a Netflix subscription would break the budget. [link] [comments] |
| father had stroke and mother is stressed about income Posted: 12 Feb 2022 06:07 AM PST My father (68) had a stroke and will need 24/7 care for the foreseeable future so my mother (63) is going to have to quit her job and is having breakdowns over what they're going to do for money. I'm trying to help her budget but other than Dad's SS check and maybe unemployment/welfare/food stamps idk what else we can do for financial aid. They live in Pennsylvania so any suggestions or resources would be greatly appreciated. [link] [comments] |
| Starting Career Roth IRA Contribution and 401k Posted: 12 Feb 2022 08:45 AM PST I (22) M am about to graduate college and Im looking for some finical advice. I have already accepted a full time job offer in a lower cost of living state. The offer is for $70,000. The offer is for an engineering position in a very stable company. I Have $12,000 in student loan debt. I plan to pay this down significantly with offer bonuses and tax returns this year. I should be able to pay off about $7,500 worth with this. I will be able to move back in with my parents for up to one year after graduation as a way to help get me on my feet. I will not be paying rent, and my grocery and most bill will be covered as well. Im looking to start saving for a house and would like some advice on how to allocate some of my budget. I already have a decent sized emergency fund built up 3+ months expenses. My employer offers a 7.5% company match on a 401k plan that I plan on taking full advantage of. I currently have a a Roth IRA that i have been slowly accumulating money from a part time job. Would it make sense to max out my ROTH IRA contribution of $6,000 in the first year living at home? Or should I save that money for a down payment on a house? [link] [comments] |
| Needing investment/planning advice. Unsure where to begin. Posted: 12 Feb 2022 08:30 AM PST For starters let me just say i am 30 years old, and illiterate with investment terminology so please make any explanations to me in FisherPrice simplicity. I have a decent sized chunk of money just sitting in the bank and not sure what to do with it. I do not want to put any of it in any "high risk" form of investment. I already have a 401k with work that does a company match of 4% plus a safeharbor match. currently i'm contributing 9% of my own income, split between regular 401k and roth/IRA (pre/post tax). I live alone, rent my condo apartment and pay below market rate since i've been here a while. I have two cats, no children and no plans on having any. My credit score is either the higher end of "good" or "excellent" depending on which app/credit bureau you're looking at. I only have 2 credit cards, one is for just health expenses and has 0 balance. the other is a regular discover card that i've paid off every month and never accrued a cent of interest payments on. current balance is like $300. I have no student loan debt. The only debt reported on my credit is from a house I bought with my ex jointly. he kept the house when we split and makes every payment on time. we got me off the house deed but haven't refinanced to get me off the loan because it seemed like more trouble than it's worth at the moment, since i don't have any near future plans on buying a house or needing a major loan. I guess i'm just looking for advice on where to start. I was thinking maybe a mutual funds or something since it sounds "safe" but, don't want to use just ANY broker/company. I want to trust the one i choose, obviously. any advice at all is greatly appreciated [link] [comments] |
| Posted: 12 Feb 2022 08:29 AM PST My partner and I have good credit, have well-paying jobs, but don't have as much saved up for a downpayment as we would like. Our current rental is expensive, so it's harder to save up than if we had a home with equity to use towards a new purchase. We also don't have family members who can gift us money for a downpayment We qualify for downpayment assistance. We are just below the income threshold. Do realtors, loan officers, and home sellers look down on those who need assistance with a downpayment? We know we will qualify for a loan, but are a little nervous that it's going to hurt our buying power with this crazy real estate market where you're competing with so many other buyers. [link] [comments] |
| Advice or experiences with 'Financial Tech Companies' // Aka A Bank That Isn't Actually a Bank Posted: 12 Feb 2022 08:29 AM PST Not sure if this is the right place to do post this so [ delete if not appropriate ]. I've been trying to find an alternative banking solution for some freelance income to keep it separate. I've used PayPal before (I know, horrible) because they had the option to send myself a check in the mail for a fee that I in turn just charged to my client. They have now removed this feature if you don't have a bank account attached to the account and I refuse to tie my personal money into that horrible joke of a company, only my CCard. Anyway, I've been looking into alternative online only & app based "financial tech" companies and according to BBB & TrustPilot they have HORRIBLE reviews while NerdWallet probably has a biased review of saying they are great. These are the ones I've looked into so far: Most of these I have found reviews saying their accounts were closed without warning or they lost access to their money etc. I'm scared to even TRY them now. Should I just admit defeat and go with my local bank? I don't want to open a business account because of the fees so that's why I searched elsewhere. [link] [comments] |
| Is it possible to get a home equity for a home that has no mortgage, but owner has horrible credit? Posted: 12 Feb 2022 08:11 AM PST Asking for a friend who has to fix up a house that is overpriced for the neighborhood but apparently is debt/mortgage free. They have horrible credit and the house needs some work before putting it on the market. Do banks make short term loans to repair homes to people that have poor credit? [link] [comments] |
| Medical bill in dispute sent to corrections Posted: 12 Feb 2022 08:05 AM PST I went to the urgent care and requested a bacteria vaginosis test. It was a chronic issue for a while so was aware of the issue, just required treatment. They dida full STI/STD panel without my consent after asking if my bf was faithful. They send billing to a third party so contacted them. They told me they would escalate and could call back in two weeks. I called back and they told me the same thing. I called back and they told me the same thing. I got mail from a collection agency for the debt. What do need to do? [link] [comments] |
| 67000 gallon water bill after water main replacement Posted: 11 Feb 2022 08:35 AM PST Hello all, my wife and I are renting a home, and upon returning from vacation we had a sewage backup and a blocked main. We called the management office and they sent plumbers to flush the pipes and eventually replace the main(they said they'd known of tree root blockage for sometime so decided to finally fix it). This month, I recieved my bill for the month and it was a whopping 800 dollars for 67000 galloms of water usage. Normally, we used about 2000-2500 gallons a month. I called the water company and they offered a credit of 30 %, but I feel as though I'm being cheated into paying 70% of something that wasn't my fault. I did have a running toilet that I fixed myself, but regardless there's no way that would result in 67000 gallons over a one month period. Does anyone have any advice as to where to go from here? Thanks! UPDATE: I called the rental management office and they told me according to my lease, utilities aren't their problem so its between me and the water company. That's fine, but the issue stems from the fact that I only have a higher bill and higher water usage as a result of THEIR property needing repairs. They said maintenance would call me to explain further so I'm going to first see if I can get any further with them before going back to the water company. [link] [comments] |
| Posted: 12 Feb 2022 08:03 AM PST I ordered some new checks from my bank, and the tracking information from USPS said they were delivered yesterday. However, the checks were not in my mailbox. I assume USPS either lost them or delivered them to the wrong address. I've already called my bank to stop payment on the series of checks that I would have gotten. Is there anything else short of getting a new checking account number that I should do for financial protection? [link] [comments] |
| Posted: 12 Feb 2022 07:55 AM PST We are looking for a new apartment or rental house, and more and more the listings from professional property management companies will say something like this:
This just feels kind of scammy to me; it seems like furnace maintenance should be the landlord's responsibility anyway, and the rest of that stuff I don't want or need. Anyone know more about what this is all about? Thanks! [link] [comments] |
| Looking for some escrow help/guidance on how to handle not being screwed by 53rd Bank. Posted: 12 Feb 2022 07:46 AM PST Hey all, I'll try to make this all make sense but I need some smart folk help! My mortgage was sold in Dec to 53rd bank. My insurance account was posted in January of 22. I just received a letter from 53rd that they need me to pay 2500 by TUESDAY or my new mortgage rate goes up ~350.00 a month! How can a company even do this first off? Now, here are the facts. Each month my escrow payment is 336.00. So if we multiply that by 12 we arrive at 4032.00. 53rd bank is projecting that my escrow payment this year will be ~3600.00. Even with the federal "fusion of two months of payments, one would assume my shortage is roughly 200 bucks. So if they were spreading this across my monthly. It should only go up about 20-30 bucks. Another point that is weird on the documentation they sent is that, my payment goes up about 300 a month because of the escrow shortage….but on the breakdown, instead of 336 each payment, only 313 will be going towards my escrow. Is 53rd bank trying to screw me over here or what? If everything were to remain the same, I'd have enough to cover all of my taxes and insurance with extra each year. How can I fight this? Thanks all! I'll try and elaborate on any piece this needs more information! [link] [comments] |
| value of donated items when using a tax preparer Posted: 12 Feb 2022 07:15 AM PST Hi everyone. I'm thinking about using a tax preparer next year. I've grouped my donations enough that I plan to maybe use a tax preparer for FY22 since I will be itemizing. I further hope that I can get some future tax advice if I find a good enough preparer. What I'm wondering about today is, do tax preparers provide any help in valuing items that are donated? We have 2-3 years worth of outgrown kids clothes that need to be donated and it isn't easy to determine a value. My kids take great care of their stuff and it is almost all in perfect condition. TLDR - Do tax preparers provide tools to assess the value of donations? [link] [comments] |
| How to budget as a student with sudden increase? Posted: 12 Feb 2022 04:52 AM PST Im a 21 year old Software engineering student from the netherlands. Last summer i got hired as a part time Software Engineer (12-16h a week) which makes me a generous 1 to 1.3k a month (depending on my hours). My internship which started last month is also paid which makes me 500 a month. My classmates dont really make this amount of income and my older sister is also jobless so i dont feel like i have anyone to ask on advice for. I have been extremely blessed and feel so so so fortunate to have gotten these amazing opportunities which is also why i dont want to mess up. Some background: I come from a very low income family with no education (dad is jobless, mom is a fulltime cleaner and both come from a third world country) i have never learned how to budget a generous income. The only things i have been taught is to always be frugal. I live in Europe and a lot of the advice i read on here seems to be american centric. So im mainly asking for advice on what to do with this amount of money in my student time, in europe. Is investing a thing in europe?? Thanks a lot for your time! [link] [comments] |
| Do you get the "Qualified Business Deduction" if you are just doing 1099 independent contractor work Posted: 12 Feb 2022 06:34 AM PST My wife had a temporary job where she was paid as a 1099 independent contractor. She wasn't running a "business" in the traditional sense of the word. When I plug everything into TurboTax, it gives us the qualified business deduction. Is this likely to be correct or have I made a mistake? (My recollection when the Trump tax changes were being debated is that they said they were putting language in the statute designed to prevent specifically this - a one-person 1099 "business" getting a lower tax rate.) [link] [comments] |
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