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Human: I don't know why but my last post got down-voted into oblivion, so I'm trying this again. I found a car on Facebook Marketplace for $5k here in California and messaged the seller. It's a good deal (not unbelievable, but just good) and the seller seems legit, especially since I can see her profile on Facebook. She's about an hour north of me and we talked about me coming to look at the car tomorrow. She asked how I plan on paying since it will be a Sunday and the banks will be close. I said I could bring cash. She then asked if I had PayPal (which I do) and said she prefers to use that. My question is how safe is BUYING (not selling) a car via PayPal? I don't know why she would want to use that, considering PP takes their cut. Should I run away? EDIT: Omg. The downvotes again. Is someone messing with me?

This seems like an odd way of doing it. Personally as a buyer or seller I wouldn’t do it this way. Also, if she knows you’re coming to buy the car, with the money, you can’t negotiate. Personally, I’d look at it tomorrow, and then say you want to think about it. Never just show up with$5k in your pocket and tell the people that, there are a lot of shady things with online marketplaces and you could get robbed. You do know how easy it is to create fake online profiles, right? Let me guess, she is a little old lady who only drove the car to church and the grocery story on Sunday?

Can only guess that people think car sale + PayPal equals guaranteed scam It does if you buy the car without seeing it or getting the title signed over on the spot. Otherwise PayPal is just another method of transferring money. Personally I wouldn't involve PayPal whether I was the buyer or the seller. Cash or wait for a cashier's check on Monday with the transaction done at the bank so buyer can watch you buy the cashier's check. Get the sales document notarized so seller has to produce ID and prove they are the person named on the title and can't come back later and claim someone fraudulently signed the title over to you

Human: I’m 26. My current APR is 5.89% on my 2014 Honda Accord LX. On credit karma, I was alerted that I’m paying too much compared to other people with my current credit score (720). Should I attempt to refinance? RateGenuis is giving me a rate of 3.7%. I’m just worried about it hurting my current score.

Isn't paying as little interest as possible the major selling point of having a good credit score?

There are a lot of factors that go into that rate besides your credit score. You say you have over 5 years left on the loan. What was the original term? If it was, say, an 84 month loan, then your rate is actually quite good. Did you make a large down payment? What's the loan amount compared to the current value of your car? If this ratio is over 100%, you're unlikely to get the best rates. Others have mentioned refinancing to a shorter loan term to save even more money on interest, which will work, but your monthly payment would go up, perhaps significantly, depending on how much shorter you went. Is that something that will effect your day to day finances? I get it that we all want to pay less interest, and if this hassle is worth it to you, then go right ahead. But it's not as simple as some would have you think.

Human: I have a jar of coins that I’ve been saving up for years. Much to my dismay, when I took it to my local Wells Fargo branch I was told that no major banks will jetscan loose coin anymore due to a federal regulation. Does anyone know when and why this came about? I know the branch I went to doesn’t have a machine to count it. But in the past, I’ve deposited close to $100 in coin without rolling it. The amount just shows up as a deposit a couple days later. If banks can’t take loose coin, what do businesses do now? They deal with hundreds in change at the end of every day. Edit: Sounds like a lot of banks have used a lawsuit with TD bank short changing someone as a cop out to avoid counting change now. That was all I really wanted to know.

This is a cost issue and a Wells Fargo being a shitty bank issue, nothing to do with "Federal Regulations". Most smaller community banks and credit unions will still accept your coin for no charge.

There are machines for that Coin Star I think they are called

Human: I'm looking for information on how and what to invest my money in the stock market but I tend to believe that most people when it comes to money try to take advantage instead of teaching you. I trust college professors but my major is Engineering not economics, are there online courses or people that talk about this that are trustworthy?

Aggregate advice of John C. Bogle (inventor of the index fund), index fund supporter Warren Buffett, and many others who support simplicity and low cost. [https://www.bogleheads.org/wiki/Getting\_started](https://www.bogleheads.org/wiki/Getting_started) ​

TBH, I rarely run across outright scams that aren't blatant get-rich-quick schemes. All the good scammers are doing [this](https://www.youtube.com/watch?v=JZYZoQQ6LJQ). Stocks are boring. What you really need to look out for with stocks are people who siphon off 2% of your gains. High fees and commissions, "wealth management" services, etc.

Human: I'm saving up for a down payment on a house and should have enough sometime next summer. However, I feel a bit silly keeping a large amount of cash in my savings account instead of investing it. The stock market is at all time highs right now and I'm worried that if I put what I'm saving in an S&P index fund the market will turn around on me. Is there something else that is liquid that I could invest in which will net me a guaranteed 2%+?

Putting money you'll need in a year into the stock market is a bad idea. Stocks are volatile and the market might crash when you need the money. I'd recommend you instead put that money in a Certificate of Deposit.

You may find these links helpful: - ["How to handle $"](/r/personalfinance/wiki/commontopics) - [Investing](/r/personalfinance/wiki/investing) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: Im a college student who will be graduating in December, so my parents suprised me with a car as a graduation gift. However, as I have come to know, it is much less a gift and more a stressor. They expext me pay $666 in total for this car every month once I get my first job. I have nearly $50,000 in student loans, and most likely will be moving to a high COL place next spring and will rent an expensive apartment. These apartments will run $1300 or up for a 1 bedroom downtown. I have no choice but to live out of my means because my mother will be paying for it the first two months and I have to do whatever she tells me. Just like she is doing with the car she bought me. I just feel so way over my head and I don’t know what to do. The car has 60 payments that it shouldn’t even be worth. So, does anyone have any advice on how I can pay this car off sooner than expected? My potential income is $50,000 or more as a new registered nurse. EDIT: The car is in both my mom and dad’s name. They said that if I cant afford it then I will have to work extra to pay it off. They are hard workers so they expect me to do the same. Also, as far as the apartment sisuation goes my mother only agreed to help me with my relocation to this state if I get an apartment in the downtown area. She does not want me to live outside of the area because of a security issue. But as it is looking now, I probably will have to live at home for free for a year because of this new car payment. I want to be able to save as much as possible to get from under their wing. It may also seems like I need to grow up, but the trutht is that I have never had a job before and my parents pays for everything. They send me $800 a month to live off of and they pay for my current apartment and other bills. So, yes I do need to learn how to fend for myself. EDIT: I talked to my dad over the phone about refunding the car and he said that it was too late. He agreed to pay for the car until 3 months after employment. But I plan on selling it secretly. I so would just like to return it to them, but it would make them angry and they may just cut me off. Assistant: >I have to do whatever she tells me Time to grow up. They bought it, they can pay for it or sell it. End of story. Human: Yeah, it’s weird for someone graduating from college to think they have to do what their parents want. Assistant: See Edit.

At this point, you either need to take the leap and get a job or let your parents drive you into poverty. I think getting a job, renting a place with roommates, and not taking the car is the only option that is viable. You will be much better off cutting financial ties with them as soon as you find a job than you will be by living under their rules until you can save money. I wouldn’t be surprised if they did whatever they could to stop you from being able to save that money.

You cannot sell it. It is not in your name. You have to grow up and tell your parents, "No." If they retaliate, do you really still want them in your life when they behave this way? They need to respect you and your life before you can have a healthy adult relationship with them.

Human: I dont mean contributions. I mean what your contribution earns.

Traditional: no tax on contributions, no tax on earnings, regular income taxes on withdrawals after retirement age. Roth: Tax on contributions, no tax on earnings, no tax on withdrawals after retirement.

No, only a traditional IRA is taxed

Human: I'am soon 18 and have thought of what kind of car I want but I'm honestly stuck. I don't really need a car yet but it makes things a LOT easier. I'm thinking of everything from Audi RS6, Audi R8 or something like Volvo xc60 2018. I want something that would be cheap to maintain. Something fun to drive but still useful. I can't ask my dad for the money instead because he would refuse. We are thinking of paying cash. What are you're guys thoughts? I need as much advice as possible. P.S we are not going to buy brand new. Thank you.

What exactly is the question here? Obviously it would be way more beneficial to have a good low key affordable car and the extra money earning you interest, going toward a home, or other investments. You say it's either car or nothing though so... Pick the one that comes in your dad's favorite color I guess

They have a fortune, apparently, just get them to pay for servicing too...while they're already setting you up to make bad decisions in the future.

Human: Throw away to prevent online friends knowing my financial situations. ------- The details: I live in the United States. I make just over 4k a month after taxes. I have $12,239.07 in savings I have $6,435.85 in credit card debt. Child due to be born in February. I could be out of a job by years end or sooner. What I'm doing now: I am paying 2k a month to the credit card. 2K goes to cost of living and trying to build my savings back up. If no other unfortunate event's happen I will be out of credit card debt and have a savings of ~14k by the end of year. the question: Does it make more sense to pay off all the credit card debt right now? That will half my remaining savings but will save me from paying the interest for the next three months. or Is it better to keep the cash in bank just in case I loss my job and have to pay for the birth of my child without insurance. how i got here: kept 18k in bank and always made sure the credit card was at $0 by the end of the month. Then my wife and I had a year and a half filled to the brim of unfortunate events that has lead to massive medical debt. I'm no longer at my lowest, but with finding out the company i work at isn't doing so great. I decided to see what you guys think on just paying it off or keeping the cash. edit: I am bad a Reddit formatting

Keep a 3 month e-fund and use the rest to pay off cc.

You may find these links helpful: - [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit) - [Credit Cards](/r/personalfinance/wiki/creditcards) - [FICO / Credit Scores](/r/personalfinance/wiki/fico) - [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: I'm 30. I had $25,000 in a UTMA through Fidelity that I was not aware of until last year, and the assets in it (mutual funds) were eventually transferred to my Fidelity brokerage account. Fidelity shows the cost basis of the funds as $0 (or close to it). If the funds are sold, would all $25,000 be taxed? Would it be taxed as income or capital gains? I googled it and it seems that the purpose of this account is to take advantage of a child's lower income tax rate, so I don't know where that comes into play.

Nah. Fidelity just doesn't know the cost basis because brokerages weren't required to track them before 2011. You can guess by looking up the mutual funds on Morningstar.

You may find these links helpful: - [Tax Software Megathread](http://redd.it/7r0tvv) - [Taxes](/r/personalfinance/wiki/taxes) - [Understanding tax brackets](/r/personalfinance/wiki/taxes#wiki_eli5.3A_taxable_income.2C_tax_brackets.2C_marginal_tax_rates) - [W-4 IRS Withholding Calculator](http://www.irs.gov/Individuals/IRS-Withholding-Calculator) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: So we have about 100K in cash savings between my wife and I. It currently sits in a high yield savings acc. since we were going to use it as down-payment for a house. However after moving due to jobs we find ourselves renting. Our other 100K is in retirement accs, so we're not sure if we should "invest" in playing with the stock market or leaving the money there, etc. I'm just worried inflation may eat up our money every year if we don't do anything to it. What should we do?

If you plan to use all of that $100k within 5 years, keep it out of the stock market.

Don't play with the stock market. Invest in it passively, with low cost index funds. Allocate the part of the 100k you won't need to spend for 5-10 years.

Human: Not sure if this post belongs here, so I will happily take suggestions from admins: I am considering purchasing a vehicle that has a rebuilt title, which I have never done before. I would imagine that there can be several reasons why a vehicle has to have a rebuilt title, but I just want to know if it is in my best interest to just steer clear of rebuilts or are there questions that can be asked to find out if the vehicle might still be worth purchasing. What don’t I know about rebuilts that could help others on this subreddit, too?

The resale value of a vehicle with a rebuilt title is lower, and you already know why - it makes a potential purchaser ask the questions that you are asking about its condition and history. You need to have the vehicle inspected carefully by a trusted and qualified mechanic, and it should be subjected to a somewhat higher level of scrutiny knowing that it has a rebuilt title. If it is in good condition, you will have to buy it knowing that the severity of the damage it suffered might cause flaws or issues that are difficult/impossible to detect, and that you will have a more difficult time reselling it than if it had a clean title.

Depends on the quality of the workmanship that did the repairs & the quality of the replacement parts used. One show on the Velocity Channel, Junkyard Empire, shows the process for a couple different vehicles. The vehicles were purchased from an insurance company & the owner of the lot had access to parts plus employees with the skills to do the labor required. One was a high-end GM/Chevy pickup. There was also a Porsche that was rebuilt after it was rear-ended. THAT involved a trip to a specialized body shop where the frame was brought bal to factory spec. Come to think of it, the Gas Monkey shop did the same thing to a Ferrari.

Human: Currently I'm located in Japan. I was transferred to our Japanese HQ back in May for training. As a result, I liquidated our cars, stopped all utilities, ended rental lease, etc. I will be returning next year in June 2019. Basically, I need to re-establish my life in the US. How do I best use the sum of money I will have then ($50,000)? I need to have two cars for the family. We only want new cars, preferably one made by my employer (Japanese automaker). I can either buy new in cash for around $25,000-$30,000 each, or take advantage of my employer's lease program, where I pay around $300 per month and insurance, maintenance, snow tires, etc. are all taken care of. I only pay for gas. They will also give us brand new cars every year when I renew the lease. Buying means not having that monthly fee, but I also take on all the risks of breakdowns, crashes, insurance, etc. plus that large initial payment. I have no plans to quit, and my employer is still deeply traditional Japanese, so they don't fire people. I frankly can't decide. What's the most financially prudent move here? EDIT: Insurance information: Previously, my rates were ~$700 for 2 brand new cars and 1 motorcycle. Probably $400 for one car alone.

Cost-to-cost, ignoring all of the miscellaneous expenses you would incur owning a car as opposed to leasing one, the lease is a far better option. You could lease a $300 vehicle for more than 8 years before even the base costs stacked up. With a lease you don't have to worry about depreciation, trade-in, sale, maintenance and everything else that comes with owning a car. The lease is the better option, hands down. All you really need to think about is the fact that, for the most part, cars are depreciating liabilities. Owning them is not financially prudent for the most part unless they're valid investments.

Check the iaai insurance auction!!! There are should be quite a few hail damaged Japanese vehicles in your area. You can generally get those for 5-6k with low miles.

Human: I'm in college right now but I absolutely hate it, I want to leave every single day and think I seriously might. That said, I can't move back in with my parents, so my only option would be to get a job/my own place. I do have my own car, so basically my plan would be to move out to LA and try to live there. What type of jobs could I get with just a high school education? Would my future prospects be seriously limited by not having a college degree? I have about 5k in savings, but wouldn't want to move to LA until I had a job lined up and could more or less guarantee a positive cashflow. That said I know I'd have to live in pretty shitty apartment/neighborhood, but I'm fine with that as long as it's safe. Does anyone have experience like this? What should I do?

Why LA? Too many people want to move to California and think they can live cheaply. You can work at minimum wage jobs, Walmart, fast food, etc. unless you have some valuable skills. Why do you hate school? Classes not interesting? You don't like education? Wrong major? Prefer working in a trade? Minimum wage is $12 hr.

Better question is what do you want to do for work? You may want to consider construction or skilled trades.

Human: I have been living abroad for most of the year and sold all my belongings including my car as I was planning on staying here a few years. Well plans changed and now I'm headed back to the US. I've accepted a job offer with a fairly high paying job (>100k), but the problem is I need a loan now for a car and all the applications online ask about employment status. So my question is, should I put my new employer details/salary even though I haven't started yet? I feel like putting that I'm unemployed will cause me to get a crappy interest rate despite my good credit score. But I don't know if it will raise a red flag to put that I'm employed while I'm still technically not working.

Yes you should. They may ask for pay stubs... just explain the situation and show them your offer letter. The finance manager at the dealership isn’t going to want to lose the deal over this. If the interest is too high in your opinion then walk away.

It’s been a few years since I’ve applied for financing, but the last time I did they required paystubs and I needed to have had worked there for at least 90 days. Not sure if it’s this way everywhere or just something the dealership I went to requires though.

Human: My husband and I got married this past summer, and have been thinking about getting a house. We've lived together for five years in a duplex in a location we really like, but it's starting to feel cramped and we need more space. We aren't planning on having kids or anything, just for ourselves. So we have a chunk of money from our wedding that could be 3-5% down on a house (we would leave some for closing costs) and know our price range. We have looked at 7 or 8 homes and all of them have been totally wrong except this one that seems perfect. The thing in our neighborhood is it's high demand, but the houses are extremely old.. you either get nice house top of our price range, or disgusting house top of the price range, or disgusting house bottom price range. One house we saw is in a great location, has features that are good for what we need, and is actually sort of modern with updated windows and roof. We plan to stay a long time. So we want to put in an offer but it's also scary. If we do this it will probably cost 500 more than what we pay in rent each month.. we can do it but we will not have much room for saving. We have student loans, car payments, etc. Our jobs are very stable so no worries there. I guess all this really just leads to my question.. should we buy a house with a low down payment, pay the PMI and a higher payment until we hit that 20%? Or should we save for a year or two and hope interest stays the same or goes down? My dad's friend does mortgages and said that at the moment interest rates are going up and if we wait a while the extra interest we paid might be more than what pmi costs in a month. Thanks to anyone who takes the time to read or listen to this..

Don't try to predict interest rates. Save up to put down >20% to avoid PMI.

>we can do it but we will not have much room for saving. This is a perfect recipe for financial disaster. Ask all the folks back in the early 2000s who bought homes with not much room for saving, and then their variable rate loans kicked up a notch. If only $500 a month is the difference between saving and "not much room for saving", then there's just no way you can safely afford a house at the price range you're look at. That pretty much means any little emergency (HVAC repair, water heater, car repair) is going to either strain your finances or end up on a credit card. If a major emergency or accidental pregnancy happens, then you're going to be completely hosed. Being "house poor" is just horrible decision to make. Wait until you're in a better financial position, or look for a cheaper place.

Human: My wife and I were about to sign the contract for a house then Monday morning I found out they're promoting me to another location. Being that I could technically decline and say no however this would limit my career growth/advancement since I was still entry level. Now upper management want people "willing to take risks" and "multi-experience" in different locations which I feel is all total BS nowadays. It just feels frustrating that they expect us to move every couple of years to go up the ladder and even if that wasn't the case the only way to move up is to jump companies as well which may in a totally different location. Any thoughts?

It is a big risk. An additional factor is that the same people and locality may seem boring after a while, as you move up in your career. And you can't just sell your house anytime you want to move, as the prices maybe too low at that time.. Plus there are a myriad transaction charges.

Poor people rent. I have 5 houses.

Human: 40K gross income....Bad? I think so, just need confirmation. I live in an expensive city, and for my own sanity, I cannot live in a dump. This isn't luxury by any means, but it's nice. (Utilities/electric/internet included). Have a car at $190 a month too. 24/years old, about to move out of parents house. Mom will help me out immensely with food---everything else is on me and has been on me for the last year. Living at home has allowed me to save 21K ----but it's just time to move out. Assistant: That is very high for rent, especially for your first place. Have you been approved to live there? Most places want your monthly income to be at least 3 times your rent. Human: Yes, I was approved. My credit score is high and I have a clean history for a fairly long time. I was one of the few of my friends in High School whose parents opened up a credit card for. I've always been responsible with money---just starting to think this is not responsible. But it is something I have worked for. I also expect my salary to increase and I am going for an MBA eventually. I know, that is a whole lot of debt, but I think I can swing it.

I hope I can make this easy for you. It's not responsible. That is way too much on rent at your income, especially since you have other expenses like a vehicle.

One of mine and my spouses regrets was not shopping around on our first apartment post college. And we at that time we’re pulling in $92k combined with a $1500 rent payment every month. We justified it the same way you did but then we quickly realized if we just shipped around we could have at minimum saved another $400 a month by going with an older apt community rather than the new nice one.

Human: I am young. I have a child. I have been reading more and more about having an upcoming recession at which this time the banks will not be able to be bailed out. I am absolutely terrified of being stuck without a job if (when) this happens. Does anyone have any advice that I can adhere to to prepare for this?

A recession is not a depression. It's a correction. Layoffs? Perhaps. Maybe have a Plan B ready. But recessions are natural.

Yes, just save up a decent sized emergency fund and try to avoid large amounts of debt. Recessions always occur at some point, if the government can't guarantee bank accounts we have far worse things to worry about then just a recession and loosing our jobs.

Human: I have a disability where I need a lot of help from my significant other, but he's pretty toxic and abusive. We've been together for several years (my entire adult life) but he uses the help he provides to me as a means of justifying how he treats me. I just can't put up with this anymore and want to leave. I don't have any family to rely on and barely any friends which makes this harder. I have a job where I bring in $2200 per month after tax and currently have about $4K in savings. In my state, I have too much money/income to get anything from disability. I pay all the major bills (rent, food, gas, electric, car loan, etc = basically my entire salary) whereas my SO currently pays about $300 a month on bills that are for the both of us (internet and phone), plus his student loans and credit card. I think if I asked him to change the balance of who pays what, he'd get really suspicious and that might be bad... I know first and foremost that if I want to leave, I need to find a place where rent is cheaper (current apartment is $1200 per month, although I have found online that there are some studio apartments in the area that are about $800). Everything else though I am struggling to figure out how to make work. I need to figure out transportation to and from work that will work with my salary. The car is in both of our names with him as the primary person, even though I pay it. I can't drive the car, either, so I am not sure there's any point in me trying to switch it over to my name. I can't uber every day and the few places I've found that can do transportation for disabilities quote me at $80 per ride, which is more than an uber. I'd also need a bit of help at home daily due to my disability and without being able to call on many friends to help, I don't know how I'd afford that kind of help. For financial reasons, I want to try to shoot for March, when our lease ends, to leave so that I can leave before we get into another year-long lease. I just don't know what I am going to do to financially prepare for that. I feel like that small amount of savings that I have is really the only reason why I can consider this. I don't know if I should invest it or just use it as a cushion for when I leave.

What about roommate situations instead of a studio apartment? Since there will be shared living spaces you'd have to bring less furniture to the table. And there would be other people living with you that could hopefully become friends.

Get the car off your name and stop paying it if you can. Try to move closer to work so the Ubers will be cheaper. Good luck! I have a feeling you will find you have more money when you move out than you expected if he has been mooching off of you.

Human: Hi Reddit, quick question for you. I was reviewing my finances yesterday and finally connected that my minimum car payment is about 60 dollars more per month than my minimum on student loans. Now, I have no problem making the payment. I got the car a year ago (it was a pretty hasty decision, my old car got totaled and insurance was being difficult on the rental), it wasn't exactly what I wanted and I feel that I paid more than I should've for it (17k out the door). It's a 2014 Ford Fusion Titanium with 55k miles. This got me thinking: would I be better off trading in my car for something with slightly higher miles, but still reliable (I was looking at Honda Accords)? From the calculations I did, this would allow me to decrease my minimum car payment by almost 80-90 dollars a month. Or, should I look at refinancing my car loan? I still owe about 15.5k on my car, and trade in at a dealer is about 12-13k. I realize some of that would roll into the new loan, but if I got a 9-10,000 dollar car, I'd only wind up with a 13k loan (and a lower payment). I'm really just looking for a way to free up some money so I can put more into savings for a house right now.

You won't be saving any money if you do this. 55k miles is nothing and you'll be wasting money if you roll the loan over and you'll lose your down payment on the ford.

Great, thanks everyone! Kind of what I was thinking but I've seen awesome advice come out of this sub before so I wanted to post my questions.

Human: If this post isn't allowed I will delete it. I am 22 and my girlfriend is 21. We've been together 5 years, and we plan on moving out together, but we're concerned with how comfortable we will be. I work full time at a law firm as a paralegal, and she works full time as a cashier. Combined, we make 2400/month take home. We plan on renting a two bedroom apartment for $600.00 a month. Our monthly debts are $200. Utilities will be around $150. We have calculated around $250 a month for food. Currently, we have all the furniture we need besides a couch. Combined, we have around $12,000 in savings. She has a brand new car her parents pay for and I have a beater from 2002. I believe this is all the information I can really think of. We are concerned that we will run into financial hardships. We have never lived on our own before, so we're nervous about taking the plunge. Any advice or insight would be appreciated. EDIT: I have my bachelor's degree in paralegal studies preparing to go to law school, and she is going to school for library science.

Why not move into a 1 bedroom instend? Wouldn't it be cheaper than a 2 bedroom?

Plan on initial outlays of money being much higher than you think. Setting up a household, even excluding furniture and other big ticket items, costs money. All the cleaning supplies, paper products, dishes, utensils, pots and pans, etc., even when bought used, add up. ​ I'd advise buying a few of those items each week and storing them away until moving day. Add to your stash whenever you can.

Human: I have a certain percentage of my paycheck going into a Fidelity Roth IRA. It gets deposited in cash. Every two weeks I go in there and add to my positions. I wish it was more like my 401K, which automatically invests incoming money in a certain proportion of funds. I see there is an "automatic investments" feature for the Roth IRA, but it's clunky. It only invests on a monthly schedule and you have to set up a dollar amount rather than a percentage. This would not work for months where I get paid three times instead of two, or months where I contribute money manually. Is there a Roth IRA account that automatically allocates incoming deposits into investments?

Literally every brokerage does that, including Fidelity -- it's a basic function. You dun goofed setting it up somehow.

You may find these links helpful: - [401(k) Fund Selection Guide](/r/personalfinance/wiki/401k_funds) - [401(k) FAQs](/r/personalfinance/wiki/401k) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: I'm 34 years old and it seems that I don't have the ability or willpower to save money. My 401k has a paltry 400 dollars in it. My savings account is non-existant. And I have one kid. I also have a girlfriend, that's in school, yet she manages to bring in an extra 25k into the household---yet she may need to quit her job soon. As I'm staring down the barrel of 35 my actions are really starting to weigh on me. I'm seriously depressed at my inability to save money. Fortunately I have a job in which my salary will increase by at least 8% or more each year so I PLAN to be at around 100k at age 38-40. But If i'm unable to save anything, even with a good salary then it feels like it's all for nothing. I want to sock away at least $500 a month into my 401k but I can't do that and build up an emergency fund at the same time. And what about getting a house? I'm 34. If I were to get a 30 year mortgage it wouldn't be paid off until I'm 64. And how in the HELL do you save up for retirement and the down payment on a decent home in a decent neighborhood? Is there any hope for my situation? Is it possible to start seriously saving for retirement around 34-35 and save for a downpayment on a 200k-300k home? Or am I looking at this all wrong? I seriously don't want to screw up anymore..... ​ *Edit - My Budget* **Monthly Take Home Pay (150 a month going towards 401k, with company matching 25%) --- 3800** Dry cleaners (40) Barber (40) TV (40) Internet (60) Car Insurance (150) Student loan (179) Utilities (100) Credit Card payment (250) Rent (1200) Fun--have to distress or I'll go nuts (200) Car note (300) Savings in Ally savings account (400) Tax payment to IRS (120) Groceries ---girlfriend takes care of this (50) **Discretionary Income---665** ​

What are you spending so much money on? Show a budget and lets see what we can cut 300k home with 100k/yr is very doable. You can usually pay off mortgages earlier as well. It doesnt take 30 years at 100k to pay off a 300k house.

A lot of the same stories on Reddit. I really wish they taught financial education in the US School system. But I supposed the credit companies would hate that. [daveramsey.com](https://daveramsey.com) I think Suzy Orman preaches close to the same story. I'm not saying you need to buy all their crap or go all in with their stuff, but listen to their radio shows and podcast, and get an understanding of the steps to get out of debt. Debt is what's killing you. Take a year or two and pay off your student loans, car loan, credit cards, etc.. then when you've paid it off, move your insurance to liability only, then save a shit ton of money and THEN have fun and stop spending more than you make. It's doable. I know, because I did it and my family and I are much happier than we ever were before. ​ I know it's not easy, but if you don't take care of what you owe first, you'll be in the same spiral the rest of your life. If you can take the financial stress out of your life, and learn to live below your income, the rest is cake. ​

Human: Maybe this is stupid maybe it will get deleted but this is a small bit of advice and was a lot of learning for me. TL;DR it's not about what you make it's about how much you spend. Somehow life has a way of spending all your money if you aren't careful. ​ I have been working my butt off for years - climbing the ladder and I have been rewarded. I helped take a company public, went from college to earning over 300K/year in just 5 years. I bought houses, I bought cars, I got married. It was awesome. Now I am behind. Why, you ask? I am behind because I just didn't pay attention. I spent a lot of money I didn't have, and I let credit cards get ahead of me, I let debt get out of control. For everyone out there, as I try to recover from debt, selling off stuff, and wondering how I got into this situation, all I can think is PAY ATTENTION TO YOUR SPENDING. Don't just watch your income and think great I used to spend less than that. Somehow someway - life has a way of spending money - unless you pay attention and budget. It's funny it's like I didn't even notice it was an issue. CC bills just piling up - I mean I was paying them, just not the whole thing. Then all of a sudden your credit limit hits and you think, shit I've been paying my bill right? Well only sorta. Just a friendly PSA from someone who is recovering spendaholic

I make 36k a year and I budget like a mad man. I always have money when i need it I keep my costs low where ever I can and when I want to make a large purchase I budget and save vs impulse buy. Mind you where I live is not expensive to live here and that is why I live here. Plus the old trick pretending you are broke helps a bit too ;) But this is great advise no matter your income.

The more you make over an average joe, the more taxes come out of your check and and the more put into retirement. Meaning, you’re just as broke at 100k, as someone earning 50k.

Human: Let me start by saying that a lot of the posts on this subreddit are from people with far superior money management to my own. I grew up in a family with really bad money management skills and so I've struggled my whole life with it. I currently earn $85,000 per year, which after taxes, health insurance, etc., and 10% being pulled immediately into my retirement account, comes to $1900 every two weeks. My fixed costs per month are: $210 rent $200 therapy $80 phone $70 car insurance $20-40 gas $300 eating out $150 groceries $30 entertainment (Netflix, Hulu, etc) $20-40 pet supplies I currently have $21,000 in student loan debt that ranges from 3.5% - 6.8% (I know, I know), a $2,000 car loan, and credit card debt that I try to pay off monthly but is often in the $1000-$2000 range. I don't make big, extravagant purchases nearly ever, but I buy lunch at work most days and don't try to minimize costs from that standpoint nearly enough. My boyfriend and I have recently decided to get engaged, and are currently embroiled in the financial calculus of what ring, what stone, what color/cut/quality, and how to avoid throwing thousands of dollars away on a piece of jewelry while still being happy wearing it forever. Currently I feel like I'm barely keeping afloat - I'm not paying anything towards my student loans right now, since they are on hold while I finish my second degree, and even so I don't find myself with excess money. My income has increased dramatically in the past year - 12 months ago I was making $55,000 - and yet it doesn't feel like I'm any more capable of saving. I've been considering investing in the stock market, since the 7% rate of return could really help me out. On the other hand, it feels like I can barely cover my expenses as it is - and you can see how low they are above. My boyfriend is also a relatively high earner, at $77,000, and we have a modest little home but he still insists on keeping two roommates all the time. I hate having roommates, but he travels a lot for his very expensive hobby and insists it's the only way we can maintain the lifestyle we have. I'm a bit at a loss, looking at these huge expenses coming down the line, while being pretty awful at managing money and somehow unable to see the benefit of a $30,000 raise in less than a year. Broadly, when my paycheck arrives, here's what generally happens: $200 to the checking account associated with my credit card, to immediately put to the CC $800 to a high-yield ally savings account $900 to my debit account, from which I pay my bills The high-yield ally savings account inevitably winds up pointed towards my credit card, as is any money left over in the debit account after bills are paid. What am I doing wrong? I should be sailing through!

> Let me start by saying that a lot of the posts on this subreddit are from people with far superior money management to my own. I grew up in a family with really bad money management skills and so I've struggled my whole life with it. Money management isn't a difficult skill. It's mostly just discipline and self control. You're old enough to where the "my family never taught me" excuse doesn't fly. You're taking home roughly $4k a month. $1100 is going towards expenses. That means you're burning through nearly $3k per month. Your number 1 step is to sit down and figure out where your money is actually going.

I've been in this situation before, multiple times. It sound like the Credit Card is an issue and they can get away from you fast!! ​ First thing is to realize that if you don't stop your spending habits, you won't ever get ahead. ​ Second, don't get married until you are both in a finically healthy situation. Marriage is nothing more than a piece of legal paper. Love if much more than that, so if you can't wait... well, there are other issues. ​ Then take a step back and ask yourself; "Am I willing to sacrifice a little now to have a better experience the rest of my life?". If you say yes, and really mean it, then you'll figure it out pretty quick. People don't like to cut back, or "go without"... but if you realize that all you really need is transportation to your job, a roof over your head, and food... there's a lot to cut from a budget. Stop your 401K, cut Cable TV, stop eating out, get slower internet speeds, sell your car if your have excessive car payment. Kill the credit card, pay it off, then pay off all of your debt starting with the smallest and building to the largest. Put 3 months worth of your paycheck in savings, and then start your 401K back up and only go to what your employer will match, then start heavily investing in the market. When you have no other debt, and you have cut expenses, you'll be surprised how fast that student debt goes away. ​ Once your settled, then you can decide what you want to spend all of this excess income you have now that you have no debt, credit cards, or high. I'm not sure where you live, but it sounds like your making decent money and if your BF is as well.. y'all should be able to clean up your financial habits pretty fast. Don't try to invest in the market or retirement or anything until your debt is gone, or you will continually be in this cycle of pulling from your savings and never building wealth. ​ Now... make sure your boyfriend is on the same page. If y'all don't agree on finances, you need more work than anyone here could help with. You both need to commit to cutting back, putting away, and living with less than you make. Only then will you be able to build wealth and become financially healthy. ​ I don't agree with everything Dave Ramsey says, but maybe pay attention to the basics of how to pay off debt that he preaches. I will work incredibly well if your situation. Listen to his podcast if you don't want to pay for his books.

Human: I'm sure it's complicated, but I couldn't find a straightforward answer with a Google search. What happens to rental costs and availability when there's a poor housing market? In 2008 were people forced out of rentals early?

From my experience, availability drops because people need a place to live after losing their home.

It depends on the local property market and what caused the housing crash. If you are in an oil boom town, and the industry declines, the price of houses might crash, and the price of rent might crash too, and the % of voids might go up. People are simply moving away from the area, and there is more housing than there is demand. If the housing crash is caused by something else (the last one was caused by people not being able to afford their mortgages as ARM interest rates went up, compounded by a recession, and people losing their jobs, and having difficulty finding new ones), then rents might go up, as people sell or are foreclosed out of houses, and look to rent. However, that might not last long, as investors buy the foreclosed houses and start renting them out, leading to more rental property being available, and thus falling rents.

Human: So to give some background, I'm gainfully employed and make a decent amount of money but unfortunately my work Insurance isn't the greatest and me only going to the dentist every 6 months for a routine cleaning, it would actually be magnitudes more expensive for me to get dental insurance than to just pay for out-of-pocket and they only cover a maximum of $1,000 per year of expenses for things other than routine and preventative dental care. After having some jaw pain I go get some x-rays done at a maxiofacial surgeon and it turns out I have a condition called root resorption. I didn't do anything wrong, I take excellent care of my teeth and I've only had one cavity in my 27 years so it's just an unfortunate genetic defect that happens to some people and I have to get the tooth out in a crown put in. I go for my consultation and I get told that without insurance the surgery is going to be about 2 Grand between the extraction and the implant. Then I have to go back to my regular dentist to get the crown actually implanted and that's going to be about another thousand dollars. so, two grand to the oral surgeon and then another grand to my regular dentist for the work of putting the implant in. Do I have any other recourse here? Assistant: You can look to dental schools. They generally do procedures cheaper, but of course it is students doing the operation. Depending on where you are located, you might want to look into dental tourism. Some countries cater to those looking for cheaper procedures and it can mean getting everything done for less than $3k. But it will depend on how cheaply you can get there and the costs to stay while the full course of the extraction and implant happen. Human: I live about 30 minutes away from the Canadian border and I have a passport. Maybe that would be an option.

Dentistry isn't less expensive in Canada. Honestly, $3k for ext, implant/surgery, abutment and implant crown is a good deal. Maybe get a quote from a periodontist instead of an OMFS, but otherwise I would just recommend using an FSA/HSA to pay for the procedure. Like you said, this is an idiopathic problem and your oral health is otherwise fine. You get what you pay for, and what you want at your age is longterm and esthetic results. Source: dentist

Too bad. Algodonas by Yuma has great dentists and try charge 1/3 the cost of US dentists.

Human: If there is a more suitable sub to ask this in please let me know. My step father just told me he is looking to get a small business loan. The man he has been talking to claims to work for jnfunding.com and asked him to send a copy of his ID, a voided check, and financial statements from June-September. When I told my stepfather that I thought this didn't seem legitimate we got into an argument. Would someone really request for such sensitive information unsecured via email? I'd appreciate any responses. Thanks you in advance.

Nobody should need a "voided" check unless they plan to loot your checking account.

There should at the very least be a main phone number your father can call the agent back on. There have been scammers that use a company's name so when you look them it seems legitimate. Your FIL hopefully can call back his agent at the main number to confirm. Doesn't hurt to be cautious.

Human: I was in Zurich a month ago and got very drunk one night. Me and my girlfriend took a local taxi back home, but on our way back I got sick and vomited in the Taxi. The taxi driver wasn't happy about the situation, but didn't speak any English (and we didn't speak any German) and he wanted my girlfriend to pay for the cleaning. At first he asked us to pay by a card, but some of them got declined and he couldn't explain what is going on. Afterwards he asked us to pay with all cash that we had on us, which was around 120€. My girlfriend was really panicking at the moment and did whatever the driver asked for. Few days later we have looked to our card reports and the driver has charged two of my girlfriend's debit cards (500CHF and 200CHF). I have tried to look up the Taxi company, but they do not have a website and only have a phone number available. Do we have any chance of getting some money back? 800+CHF is a lot even for Switzerland. Tldr: I threw up in a Taxi in Zurich, driver didn't speak English, took 120€ in cash and charged us 700CHF from two cards. They don't have a website, only a phone number, is there any chance of getting some money back? Edit: Added "debit" card.

They guy clearly was taking advantage of your inebriation to hit your CC and con you out of some extra money on the side. I would definitely fight those charges. The more important lesson, of course, has to do with drinking to the point where you puked in a taxi. Don't do that again.

>but some of them got declined > >we have looked to our card reports and the driver has charged two of my girlfriend's debit cards (500CHF and 200CHF) Are these **pending** charges or **cleared** charges? ​

Human: Right now I owe about $1,000 on my credit card at 25% interest rate. I try to pay off about $50 a month but it seems like a big chunk of that money just go straight to paying the interest rate instead. I recently opened a checking account at a local credit union and they offered me a credit card with no annual fee. They said that if I have another credit card debt I can do a balance transfer it to this card there is only a 3% fee and there will be 0% interest rate for the first year. After that the interest rate is only 15%. ​ That sounds like a really good deal and I'm thinking about making a balance transfer since 25% interest on my old card is a lot. I want to ask whether I can do another balance transfer after the first year when the 0% interest rate is over back to the old credit card and get another year of 0% interest? That would be nice because then I will be able to pay the debt off without interest but I'm not sure if it's possible.

Once a year? no. Once, then pay it off and don't carry a balance ever again.

You may find these links helpful: - [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit) - [Credit Cards](/r/personalfinance/wiki/creditcards) - [FICO / Credit Scores](/r/personalfinance/wiki/fico) - [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: My eldest will be entering college in 2 years and my youngest will be entering college in 6 years. College costs approximately $100,000.00. My plan is to have 50,000.00 saved for the eldest and pay the rest out of pocket. I have 2 options with the youngest. I could put $900.00 per month into a 529 Plan and have around 60,000.00 saved for when he enters college. Or I could put that 900.00 per month into the principle of my mortgage and have my house paid off just as my youngest enters college. I wouldn’t have money saved for her but the money I was putting towards my mortgage could be put towards her college. Also, based on my calculations I would save about $20,000.00 in interest payments by paying off my house early, which is 1 year of college. What should I do—play it safe and just put the 900.00 into a 529 or go for paying my house off and not have anything saved for college

Pay off the house. Kids can get their own loans for college. Plus, you can then help them out to the best of your ability.

I wouldn't pay for first to go to school outright but cosign loans and only pay what they don't cover. Keep that money invested and making money till loan repayment is due and help out eldest then. I wouldn't pay extra to pay down mortgage at such a low rate. By the time 2nd loans are due hopefully it is paid off.

Human: Need a bank acct. Mainly for purchases, paying bills, and saving. I keep reading that Simple is really good. Would like to ask you lovely people what's your experience with Simple or any other online bank? Main thing just want a secure online bank.

As of today, Simple offers 2.02% interest. This is an increase of 201 basis points. I’ve been using Simple for years and highly recommend them.

https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions?st=JMF9ECFR&sh=5813d925

Human: I don’t have a car or home, 90% of my friends are cities/states away for college, and I have a single change of clothes. There’s always been tension between me and my dad (my parents are divorced) but an argument over nothing spiraled into a rage match that ended with me being kicked out. As much as I would love to move out and to potentially turn this into a positive, I can’t think of a way to even survive without clothes or transportation for a job much less housing. I’m desperate for any course of action since it’s already been a few days and nothing has come to mind. UPDATE (9:30p): I've made a trip around to all the churches and the local YMCA all of which were not super helpful. The YMCA was kind enough to print out a list of shelters but they are all 4.5 hours away walking. For tonight I risk staying up at a 24 Hour Fitness so that I don't have to be outside. I also made a post on r/legaladvice to see if it could be considered an illegal eviction. I will not act on this regardless as it will take way too long to actually take effect if it even turns out beneficial (as per the first few comments on that post have informed me). Tomorrow morning I will seek a local library to see if there's any help to be found there and if not I will be just taking the long long trek to where the shelters and welfare center are. From there I will contact my relatives to see if any them are able to take me in for the time being, and if not then I guess I have an apology to write up. UPDATE (1:30a): 24 hour fitness is expensive so I decided to walk instead of sleeping somewhere and getting arrested. I’m currently in a whataburger ~1/3 of the way to the shelters/welfare area. UPDATE (12:00p): Last night was both crazy and a nightmare. I walked ~45 mins to the police station but it was for the wrong city. Then I decided to walk the 4.5 hours to the shelters (the correct police station was there. When I got there the police reinforced what r/legaladvice said, that my dad is basically a landlord at this point and what he did was illegal. After that I took the trinity metro around, met a male prostitute and a meth head. Kinda scary at first but they were cool, they had neat stories on the bus and shared snacks with me. Shelters were obviously closed at 4am so I called the police department and they hooked me up with an Uber back to my neighborhood. At ~6 I found the parents of an old high school friend who said they’ll take me for a couple days and that’s where I’m at right now. Someone commented a way to get to Dallas on a couple bus passes so I’m looking into that and even if the friend doesn’t pull through Dallas is a bigger city so probably better shelters. Assistant: 1st, find a YMCA, I know it sounds cheesy, but they are there to help young men like you, Christian or not. They can help you with a safe place to sleep, shower and a couple of changes of clothes. 2nd, make sure you have all of your documents to find work. State ID, S.S. card, and high school diploma. If you need your diploma, your state Should have a way of getting it online. 3rd, find work and an affordable place to live. Good jobs are not hard to find, if you know where to look. Get to a local union hall, they exist for every trade in every major city. I went with IBEW, and became an electrician. 4th, keep faith that you can make it. I was homeless, without a car, in a strange city. I found a place to sleep, got a good job, became a journeyman electrician, and now have a nice car, own my home and did it in my own. My dad is still an ass hole, but my mom and I get along great, and she is ever proud of what I have done. Human: Found a ymca, they couldn’t help at all but gave me a list of shelters but they’re all a 30 min drive from here (4+ hour walk) I have my state id and know my ssid though not the card, and I don’t have my diploma in my possession. I’ll look into getting it after I get a semi-permanent place to stay What would be the process for the “union hall” option? I’ve never even heard of this and don’t even know where to start or what to look up Keeping my chin up for now but my current stock won’t last me long

Depending on your state, most unions have a presence in major cities. If you look up IBEW and your city, a local union will show up. There is also the plumbers and pipefitters union, sheet metal union, Carpenters union, and sprinkler fitters union. Most offices are open m-f 7:00 to 5:00 or there about. Give them a call, ask about apprenticeship, and do they need new workers. Some locals like NYC are very hard to get into, but most are pretty open. As long as you can prove that you are legal to work, and have a diploma, they will find work for you if there is any. Learning a trade can lead to a very rewarding career, and allows you to earn while you learn. Usually at a higher wage than you can find in retail or service.

> 4+ hour walk Start walking. I hiked an 8 hour trail last summer for fun.

Human: I really want to buy a new TV but with me paying tuition for college and bills, I don't see it happening any time soon. It dawned on me not too long ago that there's a rent a center not too far from me. I've heard how these places are money traps where you pay double or even triple what the price is actually worth (like say $1000 for a $400 PS4 pro) but I was wondering, is there ever a situation where these companies are worth it? TIA

No, considering if you pay $80/month for twelve months for that PS4. You can buy it in 5 months if you saved that 80 dollars.

If heard of people renting a game console for a couple of weeks to play a new release rather than having to go out and buy a console. Otherwise a LOC or even a 24% interest credit card is much better option.

Human: My mom recently discovered that there was a fully paid-up whole life insurance policy on her. My late grandmother had taken it out years ago and paid the premiums. She had not told my mom about the policy because it was supposed to cover funeral expenses, and my mom's first instinct would be to cash it out, and that's exactly what happened when the company called her about it a few weeks ago. ​ So now she wants to cash it out and since I'm listed as beneficiary, I'm supposed to fill out some forms, get a check, cash it, and pass the money to her. What implications are there that I should be aware of?

Why would you do this? Sounds like it's your money. At some point your mother will die and you will need money for a funeral, as your grandmother intended.

How much is the policy for and what is the current cash value? How old is your mom, how is her health, how is she generally with money, and what sort of relationship do you two have? I can't really give any good advice without knowing this sort of information. Whole life is generally a bad idea, so I would usually be in favor of cashing this sort of policy out and investing the money myself.

Human: they are in a lot of debt so they cant do it themselves. My friend is somewhat trustworthy but assuming the worst. is this a good idea or can it come back to bite me?

The rental co. says no. don't even consider that.

Absolutely not. BUT....if you DO decide to do this, you rent the car on whichever credit card provides the best auto rental coverage. Pay the additional fee to add him or her as an additional driver. Buy the insurance that the rental company is offering. Do it absolutely by the book, and read the rental company's fine print regarding additional drivers (e.g., does the driver have to be in the car while the additional is driving, etc.)

Human: Hey there Reddit, It's a struggle for me right now. My wife is newly pregnant and I want to get out of renting and into owning a house fast. Problem is, I have this killer car payment that's making me live paycheck-to-paycheck. I barely afford all my bills and am barely making headway on my credit card debts, which is what is really keeping me from getting approved for a mortgage. If I could free up that $600 a month payment, I could take care of my other debts fast. How get out of it without destroying my credit? A few facts: While I like the car, I don't need it. I have another car. The excess debt is a combination of a few trade ins that turned out to have a lot of negative equity (according to the dealership, anyways.) I'm to the point where I'm contemplating a voluntary repo or taking advantage of the bad drivers around here and letting insurance handle it. I have full coverage, GAP, and some really nice warranties. What is one to do? Assistant: You'll have to post the details of your current financial situation, but sounds like you need a second job, or your wife will need to start working if she is not currently. Human: We're working on it. It's hard to accept that there isn't an easy way out of this deal. Even if I feel screwed over by the dealership, they do this for a living and know every way to make sure you can't get out of it. I just can't believe they can legally do a loan for almost 200% of the vehicle.

You accepted that loan.

A loan is just a loan, the value of the car doesn't really matter for that, though having it as collateral means car loans are less risky for them, which is why they gave it to you even though it's clearly way more than you can afford.

Human: I'm 59 years old and have a chance to live for free without paying a mortgage or rent. I wouldn't have to work. However, the drawback is it's in a crappie town. But my thinking was I would travel more. And pursue my personal hobbies (i.e. art).

The whole point of busting your ass is to be able to enjoy it at some point. If you have reached that point, see it through. Enjoy while you physically have the ability. You aren't getting any younger.

Move into the house my boyfriend is refurbishing in the same crappy town. The refurbishing of his house could take a year maybe two. He said I wouldn't have to pay rent there either.

Human: People generally try and plan for most kinds of predictable financial events, but when it comes to inheritance it seems like we mostly just figure it out after the fact. Since most parents probably have some idea how much they plan to leave to their kids, shouldn't they communicate that to their kids so the kids can adjust their financial plans accordingly? I realize I shouldn't expect anything from my parents, and I genuinely wouldn't care if they planned to give everything to charity. But surely it would be worth knowing whether at some point in the future I'm likely to experience a windfall of some kind. That information probably shouldn't change my choices too much, but depending on how much it was, it might, right? Has anyone had a successful conversation with their parents or kids about this? I'd appreciate advice on how to approach it gracefully without sounding greedy.

I think it makes sense to discuss the details related to the will itself - where accounts are held and what one's parents wishes are for after they pass. However, if they are in a position to leave money to their kids the dollars value is irrelevant. You can't really plan for it because you don't really know when you'd receive it and healthcare expenses at the end of life can drastically change the dollar value. It's incredibly easy to adjust your financial plan when unplanned money gets added to the story. I don't see a good reason to talk about specific dollar values with your parents.

I told all my kids they are not in our will.....and if they were, we are spending all of the money. Of course they are in the will but they don't need to know that. We have a thorough list of all financial concerns as well as accounts and passwords as an addendum in our will.

Human: Just recently watched a documentary about the 2008 Crash and am quite worried about the near future. Seen a few headlines/articles predicting another financial rough patch in the next few years and am wondering what is the best course of action to take? Have seen very helpful flow charts and ways on what to tackle first in terms of debt while also saving but what would change, if anything, in terms of prioritization? I'm 23 with $12k in student loan debt, low interest and am making $40k, living at home. However, I just started at this job so i'm positive I'd get the axe if anything happened.

People have been predicting recessions every year since 2011. Just make sure your portfolio is well-diversified, you pay off any outstanding debts, save up cash in case of emergencies, and live below your means. That should be your strategy in bull markets and recessions.

From two months ago: https://www.reddit.com/r/personalfinance/comments/917bez/if_we_were_to_see_a_recession_in_the_next_35/?st=JMFIEPZW&sh=ba01ce2a

Human: I am 40 years old and have a sizable 401k that’s pretty heavy in stocks (40 percent s&p) Should I consider moving to bonds or something more stable before the stock market crashes? My thought was to move everything over, and once things crash, move back to stocks to buy cheaply. Does this make sense, or should I just ride it out?

What evidence do you have that the stock market is about to crash? How would you know when the crash is over and it's okay to buy back in?

You may find these links helpful: - [401(k) Fund Selection Guide](/r/personalfinance/wiki/401k_funds) - [401(k) FAQs](/r/personalfinance/wiki/401k) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: I usually check my credit card on-line several times a month. But I was traveling recently. I went over my credit card bill and found 2 charges to Walmart Grocery, their on-line service for buying food. I don't buy groceries at Walmart, in fact I avoid the chain as much as possible. My card wasn't stolen, I have it. I always check gas stations for skimmers after being burned by one 5 years ago. They usually install them on gas pumps. I don't use this card for restaurants so no server copied the card while going to the cash register. I don't know how they got my card but there they were a charge for $84 and 2 days later another for $87. Chase had me cut up the card and now I have to change all of my auto-payments. But I won't be buying Bubba's food or beer at Walmart.

Seconded! Just found that a restaurant overcharged me by $15.50! Called them up and they refunded me that day after looking up my receipt.

Sometimes the same can happen with old transactions as well. I remember using my credit card in Ireland for our honeymoon about 5 years ago. And 2 years ago, I suddenly saw a bunch of purchases from Ireland, and I was being hit with several instances of international fees too. They weren't much, but it did raise a few alarms because 1, that card has already been destroyed, the bank issued new cards due to a data breach from Target after my honeymoon and before these fraudulent charges, and 2, because I haven't been back to Ireland since. I called up my bank to help with this issue and they traced it back to my cancelled card that somehow they were able to hack it. So yeah, be vigilant with your finances. I check at least once a week. It's just nice to have the details so that you don't overspend as well. But for the sake of prevention of this type of situation, it's really invaluable.

Human: We are fortunate to be in a strong financial position. Our only debt beside mortgage is about $9,700 in student loan debt at 3.25%. The loan will be paid off at the end of 2023 at the current payment rate. We don't have any trouble making the ~$100 monthly payments and could cut a check tomorrow to pay it off in its entirety. But it's likely (I know, not guaranteed) to clear more than 3.25% investing that money over the same period. Because of the loan payback structure, the most recent breakdown of P&I was ~30% interest. Ouch! Obviously as we get closer to the end of the loan it will be next to 0%. So the questions are: Pay it all off now or invest? If I invest, should I put it in, for example, a Vanguard S&P or total stock market fund or Berkshire stock and just transfer money from the investment account to checking in the amount of the loan payments every month? Every quarter? Annually? I have a medium-high risk tolerance. Any ideas I haven't thought of would be very much appreciated!

There is no period in the last century where the market has had a long term pre-inflation return of less 3.25%. Moreover, student loan interest is likely tax deductible for you, making the post tax interest rate closer to 2.5%. Adjusting for inflation, that means the real return of paying off the loan is closer to 0%. As if that weren't enough, if this is a federally backed loan, there are substantial safeguards built in to protect you if you ever find yourself in dire financial straits, such as forebearance and pay as you earn. If you have not maxed out your 401k/403b/Sep-IRA/traditional or Roth IRA, you are better off funding those and contributing to a total market index fund than you are paying this loan off early.

Pay it off and get it out of your hair. If anything goes south, it’s one less bill to screw up your credit. You’re not not going to make a killing in the market on 10000

Human: So I'm stuck working a meaning less job in retail that tisnt going anywhere and I can't fine anything that pays better. The appeal of going to college to get a better job is super appealing to me. I want to be able to receive a higher education so I can have a move stable life. Now the main issue and the reason I didn't go to school right out of high school which is cost. How does anyone afford to get a student loan and then pay it off. My mother had went back to school when I was a kid and is still paying off the debt to this day. I'm completely and utterly terrified that I'll be paying on a loan 20 years after school. Another issue I have is how can I make a liveable wage and go to school. I'm struggling now working 40 hours a week just to keep on top of my home tasks and have little to no social life because I'm always busy with work. I can't imagine how anyone does school and a job at the same time. I think more then anything is that I don't understand what to do. My high school didn't really help my when I was in high school. I think mostly because I have a hard time with learning. Honestly I just need help on what I can do and how I can maybe do this. I'm just so scared that I can't afford to pay for the loans.

I went to Vocational training in electronics, the company paid part and I earned the rest with overtime. I did that for one year. Then, I got one year of pre-engineering (community college) with company assistance, before my boss made it impossible to attend. Then, I got a job at a company using those skills where the company re-imbursed my tuition. I transferred my pre-engineering credits into a major university business program attending only night classes. Several years later, I worked at a company who had unlimited tuition payments. So, I took some computer science classes and some professional development classes. Then online stuff came out, and I applied for a PMBA at another major university. We met once per week in each class using tele-presence. So, I have an MBA. My company re-imbursed me for 1/3 the cost, but I worked overtime to pay the balance. ​ I never took on a student loan, and I don't recommend you do either. To get educated, you must make a commitment to the process, and earn your way. It is hard to work and go to school both. I paid for most of mine with company help. However, there are schools who have work/study programs to help you cover tuition. I had a daughter who worked at Wal-Mart while living at home. She paid her own tuition, and I paid for her housing and car expenses. ​ In my case, I had some stops and starts, but it was the commitment that made the difference. Every class you complete is a class you never have to take again. Get them under your belt one at a time if necessary. I will say this. Every time I got a degree or a set of classes. I was smarter, more confident, and upgraded in my employment by both pay and position. It is worth it.

Learn how to code. You can either do this on your own through online tutorials, or at a “coding boot camp”. I’ve worked with many people who never went to university, but paid $10K for a 10 week boot camp and got hired right out of the class making at least $80k a year. Seems like a good option for you if you are comfortable with a computer. Try making a website on your own through online tutorials to see if it’s something you’d enjoy.

Human: I drive a 2005 dodge Stratus that is in average condition. It's nothing fancy. I drive an average of forty miles a week for my job. If we simply look at gas prices for my area, I would say this is pretty nice compensation. Gas is roughly $3 a gallon, so after 6 miles, I'm making a profit. However, we have to factor in the car upkeep and wear and tear. This is where I'm not sure how to calculate it. Any ideas ? This is purely for curiosity. Also, I started thinking about what if I had a nicer car. My sister just bought a much newer car, a 2016. Let's say I had a car like that. My wear and tear value and upkeep value would be much higher wouldn't it ? I'm sure some of my colleagues have much nicer cars than I do, giving a flat rate for mileage doesn't really seem fair.

https://www.irs.gov/newsroom/standard-mileage-rates-for-2018-up-from-rates-for-2017 It's what the IRS determined to be fair based on studies. Realistically, if you drive a car that's already depreciated most of its value and doesn't require many major repairs, you're effectively making more money to drive

If you're driving a car this is the government rate and what they should be reimbursing you at... on the other hand if you drive an 18 wheeler I'd protest

Human: Context: I'm a sophomore in High School, My parents are divorced (My sister and I live with my mom. Dad visits sometimes, once or twice a year). Not really knowledgeable on what most of this stuff is, but today I was browsing through some college stuff, and my mom told me to ask my father how much money I had in my 529. I don't even know what that is, just assumed it was some sort of bank account where my parents slowly put money towards my college. He responded saying that I don't have a 529 Plan. My mom was very confused since she said that my dad and her opened one for me when I was born. My dad apparently closed the account, and that brings us to the present. My mom has gone crazy the past few hours, telling me how hard I need to work in school and sports trying to figure out ways I can get free tuition or a scholarship of some sorts. What should we be doing in this situation? How big of a problem is this, and how worried should I be?

A lot of kids don’t have college savings plans. I had zero going in. My parents helped a bit, I worked, and got loans for the rest. Don’t panic, apply for scholarships, full our your fafsa early, choose your school and major wisely. Your best chance at getting money is to go to a school one level down from where you can get in. Find a school that wants you.

The 529 college savings plan is owned by the donor (parents) until it is spent by the recipient. The recipient can even be changed after the 529 is opened. It's not too surprising that the 529 is gone now because divorce can really strain finances. From that angle, there isn't really a problem.

Human: I’ve always mentally prepared for the worst. I have a job & car I can stay in. I work at a grocery store & can sleep in the parking lot. I’m gonna sign up for a gym so I can use their shower. Laundry mat to wash cloth. Despite this, I know plans can be one thing. Execution & treatment are another, so what are some trials & tribulations I may face? What things may hit me out of the blue I should watch out for? Thanks to anyone who can help out! *Edit* If I buy stuff on amazon, is there any way I can still get stuff without an address ?

>I work at a grocery store Ok, that's Job #1. What are jobs #2 and #3? They're easy to find in this red hot job market.

You can get a PO box to have things shipped too. If you are close with your boss you may be able to have things shipped to your work as well.

Human: Hello. By the title of this post, today has been rough. I'm 20. I'm full-time at my local college. My mother passed away very unexpectedly today(she was 49). My family is in a bit of a really rough situation right now. My dad only makes about $45,000 a year and my mom was making $50,000 before she passed today. She didn't have any kind of life insurance so we aren't getting anything for her passing. My dad cannot afford to pay our house payment on top of everything else on his own. I also have an 11 year old sister, I don't know if that is relevant information. From what I've picked up on, they would net $85,000 if they sold our house for $250,000. Is there anything I can do here to keep our house?

I believe your sister can tap into your mother's social security. Your mother likely worked 25 years paying into the system. You should be able to get some money out of it.

Sorry to hear that. My heart was hurting with you as I read this post. If recently refinanced unlikely to go that route again but can have a sit down when you feel time is right to discuss finances with your dad to see if house can be kept. If so great. If not, it can be easier to move on at different location. So either way you should be fine in that regard so dont overstress. Last but not least I can tell you are very mature and worry for younger sister well being. Your mom is proud of you looking from above. Best wishes. -stranger who hurts with you

Human: Not entirely sure if this is the place to ask about this but, I have a decent sized savings account with a bunch of stocks which my dad maintains and all of that. I recently noticed that the cash value of my account has been cut in half while the overall value has remained the same. I have very little knowledge about how trading works and all that but I get the basics. Looking at my account history he's been trading the bank money I have and buy large sums of US Treasure Bill 18U stuff. These are 3 month T-bills. ​ ​ My question is, what possible reason is there for doing this? I looked it up and the T-bills only have a 1% return on them, so in terms of investing that large of an amount of money it doesn't seem terribly productive. He is also doing this with my sisters account aswell. He has not told us about this at all. I don't want to jump to conclusions about anything but I'm struggling to understand this at all. He has never done this with our savings before. ​

You are apparently 24 years old. There is no reason your father needs to have power of attorney over your accounts. You should work with him to get this revoked. (You could do it unilaterally, but no need for it be confrontational.)

If you are 18 you should be managing your own money. If you are not 18 yet, then now is the time to educate yourself about investing so that you can make your own decisions about your account when you become an adult.

Human: I read a couple of news report claiming that the next "big" recession is only 1 or 2 years away. Given that the last, (major), one was \~10 years, it is not such a bad guess to say that a recession in probable in the very near future. So... given that it is likely to happen, how should/would you prepare for it? Apart from increasing savings and reducing debt, what other practical steps can you take? **Edit:** Thanks for all the great responses, I would be interested to know why this was downvoted so much, (maybe someone can tell me so I correct it if there is a next time).

From an investment standpoint, the problem is: the choices that make sense in a recession don't make sense at other times, so if you do prepare but get the timing wrong, you can do worse than if you didn't prepare at all. There have been predictions of a recession coming soon every year for the past at least five, just FYI. https://www.investors.com/politics/commentary/obamamonics-tax-increases-will-produce-recession-next-year/ https://www.cnbc.com/2015/06/05/recession-coming-in-2015-raoul-pal.html https://www.cnbc.com/2016/06/21/the-next-recession-is-already-here-and-there-isnt-much-the-fed-can-do-commentary.html

Follow the advice on the side bar. Invest sensibly in a balanced portfolio and reinvest your dividends! Don't take those news reports too seriously, these people have predicted 20 of the last 2 recessions, they will be correct eventually, in the meantime there is a lot of money to be made.

Human: 37 years old, wife preggo, got denied unemployment (u.s.a), bachelor's degree in business mgmt, usually use reddit just to mess around, but desperately looking for help Also a veteran Assistant: I’m going to get roasted for even suggesting this, but have you thought of ridesharing? I’ve sustained myself for almost two years doing this and I don’t have anyone assisting with a second income. Just a thought while you get yourself out there and find something permanent. Good luck! Human: Thanks for the tip, but in a small town in KY... not a viable option.

I managed to hang on during a two year unemployment stretch by garbage picking and reselling items. Mowing lawns. Selling crafts and antiques at flea markets and online. Etc. It rough.... I feel for ya.

Towboats, pays well and you can still look for other work on your time off.

Human: I work two jobs ( @ in n out & barber ). I currently owe about $10,000 in credit cards ( best buy, american express, nordstrom ) I make decent money. I want to pay off my credit cards so that i can start saving and keep all my money for myself, instead of just working to pay off the credit cards. Any suggestions what credit cards i should pay off with huge amounts of money first? and tips on how to save money efficiently and effectively?

What on earth did you buy for $10k in a year? Work at paying the ones off with the highest interest first. Pay on all of the them on time so you don't pay any late fees. And of course, stop using them.

You may find these links helpful: - [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit) - [Credit Cards](/r/personalfinance/wiki/creditcards) - [FICO / Credit Scores](/r/personalfinance/wiki/fico) - [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: I was driving on a highway when there's suddenly traffic and person in front of me stopped semi suddenly and I followed suit. The 80 year old person behind me wasn't so quick, so he rear ended me. Poor guy, he was shaken up. Damages to both my cars rear end and his front. 4" hole on my bumper, I can see the metal bumper inside is also dented and dented my trunk such that I can't open it anymore. We exchanged information and that's it so far. I have State Farm and he has USAA. It's an Audi A4 2003 with 138k. My gut says the repairs will cost more than it's worth. I don't owe any money on it. It runs well and I like my car. What should be my next steps? I kinda want to just fix my car enough that I can open the trunk again, but don't really care about the cosmetic damages and rather pocket the money. Is this possible? Or are they going to total my car and take it away from me? Thanks in advanced! **Update**: USAA called and accepted full responsibility for the accident. He gave me a couple of shops from their approved list to call and set up an appointment with. I also called my insurance and she said nothing to do with her for now since the other insurance company is accepting responsibility, she didn't even ask for my info. I also called my dealer and they have a different shop they said is the only Audi-approved body shop. I'm thinking I should get an estimate from both shops? Incidentally, I talked to my agent and she said that if they totaled my car but I decide to still keep it and accept the difference in money, then they can't insure the comprehensive part of it anymore and if anything else happen to my car (stolen, tree drop on it, I have an accident with another car), they will not pay anything for my car at all. Other info: I'm in Oregon, but the person who hit me is from AZ (car license plate, drivers license and insurance).

You always let your insurance company know. They should take care of the claim. That's what you are paying them for.

1. NEVER call your own insurance if it's not your fault. Don't even give it to the other driver. Calling your insurance can show a negative record for you whether your fault or not. 2. Call their insurance and deal with their company only. 3. Have a clear recollection of the series of events and location that this occurred for when you have to provide a statement. Don't say anything that would allude to you being at fault. 4. Check how car insurance works in your state, where I am I can take my car wherever I please and even just take the check and cash it and not have it repaired....made a few grand this way.

Human: Hello all im 29 years old and I honestly say im bad with money and my credit sucks.Currently im sitting at a 562 credit score with $2668.00 in collections. At the moment Im a full time student and i work part time.Combined income with my wife and I is about $2600.00 a month with an additional $1200.00 a month i start getting from the va for using my education benefits.I feel like I suck at being an adult and would really like so direction. I honestly live paycheck to paycheck but here is my breakdown of my bills.$472.00/mo for car, $93.00/mo car insurance, $35.00/mo water,$120.00/mo electric, $40.00/mo internet,phone/mo $275.00, rent/mo $400.00.I want to own my own house and maybe later in the future have a kid but I know that as it stands now its it's never gonna happen. Any tips on how to improve my credit and put money aside would be greatly appreciated

1. Record every purchase you and your wife make 2. Sit down with her and talk about exactly where the two of you want money to be spent each month 3. Both agree to commit whatever you decide on 4. Follow through 5. Pay off your debt 6. Continue saving/investing going forward ??? PROFIT!

/r/ynab Record every purchase, come up with a solid budget. Honestly, with just $2600/month, that should leave you with $1165 for everything else each month. Food for 2 people, gas, etc. That should be completely doable without the VA money. You should go through the last year of your debit/credit transactions and see where all your money is going. I have a feeling there are going to be a lot of charges on there you can live without.

Human: **tl;dr** American citizen, moved to Australia semi-permanently (multi-year contract). Changed my address with Charles Schwab. Checking account suddenly and without warning or notification was removed. I have no access to my funds for weeks. This is causing hardship and would like suggestions about what to do. I signed up for a Charles Schwab bank account several years ago because it touted a good exchange on foreign currency and no fees or transaction costs on using anyone's ATM. It was my secondary bank account when living in the US but anytime I was abroad it would become my primary. I recently made a semi-permanent move to Australia and updated my account information with my new address and phone number. I did this only because I didn't want my debit card to be rejected if I had to use it - I could inform them of "travel" to Australia but Charles Schwab limits it to 6 months at a time, and I was prone to forgetting to "renew" this travel advisory so I thought it would be best to just have an Australian address on file to reduce problems. I logged in to check my balance late last week and was surprised to see my checking account gone completely from my account view. There was a brokerage account that I don't use with $0.01 on the balance (this is correct) and that's it. I assumed it was a glitch, especially since the day before I logged in and my checking account was there, but just in case I reached out to their chat on-line service to talk with customer service. Long story short, customer service said they closed my account because I had a foreign address. I told her I did not see why that mattered, and she copied something from the agreement that it is for domestic US customers only (I still don't know why they have this restriction but whatever). She said someone was supposed to contact me, but she saw no evidence of anyone making an attempt on my account. So she doesn't know. I asked where my money was. She said she didn't know. I asked why they didn't just sweep the money into my brokerage account. She said she didn't know. I'm surprised she didn't use the shrugging girl emoji during our conversation. She did eventually take the initiative to follow up. I received an email the next day saying that a cashier's check will be sent to my Australian address with my funds within 2 weeks. Mail from the US can take an additional couple of weeks. Even when I receive my check, I have no idea if I will be able to deposit a US-based check into my Australian bank account. So I basically have no access to my money that was in my Schwab account. Without warning, this money was taken from me, and will remain inaccessible for 3 or 4 weeks. Needless to say, I'm pretty pissed. I have obligations in the US to attend to, including a mortgage. These missing funds are causing my hardship. What can I do, if anything? Also I have to say the customer service was indifferent and disinterested, and while they acknowledged that someone should have contacted me (and didn't), they didn't seem particularly interested in righting their wrong. I would recommend against anyone in a situation involving easy-access of funds abroad to find another service (there are many) and avoid Charles Schwab. EDIT: Forgot to add - they have *another* checking account geared towards people just like me, and they have pushed me on two occasions to sign up with this *new* type of account with them. I declined their generous offer.

Whether or no they're within their rights to do this, it seems an easy mistake to make. You sign up for an account, not paying attention to or forgetting the irrelevant parts, and then, years later, do something that triggers the closure. A heads up would have been nice, and beyond that, their way of shutting you down and locking up the money for an extended period of time is really poor customer service, at best. Speaking of which, something that bugs me is how a bank or service can happily take your money out of the account in a tenth of a second, but if there's a problem, and you need it back, they need some endless length of time to process it. I had a case where Wells Fargo double dipped my automatic CC payment right after I'd taken a trip to France. I had enough in my checking to cover *one* trip to France, but oddly enough, not two, so everything was overdrawn elsewhere, which caused a major headache. I called WF, who admitted immediately that they'd screwed up, but then it took 30 days for them to return the money. That was the last month I was a WF customer.

The banks always use this to steal money. I think it a crime. I am sure it is legal. A legal crime.

Human: -26yoM. -Federal job with current salary around $75k (~$4300 take home a month). -Didn't save much of my money through college in NY. The day after graduation I got a job that I had to move to AZ for. I had to put much of my beginning costs on credit while I rented and started my life from nothing other than suitcase of clothes. -Purchased a new vehicle for $22k. Currently $9.5k left with $300/month payments at 3%. -Short story, rented my 4 years in AZ but still struggled to an at the time low salary and ups and downs in life. Was taken down the love path of someone where ended up being a money pit by taking care of that person more than myself. -6 credit cards with $66k limit total. -Currently have $23k utilization. (Was $29k a few months ago. Been putting every extra money on it) No excuses to that high. 2 cards have zero balance. 1 has 9k (16%), 1 has 8k (18%), 1 has 4k (0%), 1 has 2k (0%). -Current savings: $2.5k -Now I'm living with parents for now, monthly min bills (CCs, phone, car): $800 -Current FICO score from CCs: ~705 -Current Credit Karma score: ~698 -Employment 401k: $35k -The last few months every penny of mine has been going to my credit cards. I have been feeling so good about it. I'm trying to pay down the least one and when it has zero balance I was going to buy a home. Started doing digging and I think I screwed myself here's why -I want to be in my own home by January 1st. I figured I can have 12k in savings by then pending everything goes well. -There are some great houses on market now that I want to look at but I doubt they will show me them now without pre-approval. -Do you think I'll get denied if I try for a pre-approval now because I have only $2.5k in savings. -What should I do right now with the position I'm in? -Looking at house that is listing at $99k, $140k, $165k, $170k. -I know NY has a down payment assistance where I would only put down 3%. But I'm only qualified until January 1st, after that I will bump in salary over the $78k cap. -I thought of possibly pulling out a 401k loan to myself for $5k to pay off two of the cards but my father suggest that's a big no, no. -Please, none of the "you managed your money now" or anything like that. I know the position I am in and my past is in the past. I now have to live with it and move on. -Please, any advice helps. I want to finally have a place that I can call my own.

You want to pay off the $23K in credit card debt before you think about saving to buy a house.

Also look at how much property taxes are where you live. If you’re looking at the affordability of a mortgage you may be surprised how much PMI and property taxes will add to your payment. Separately I agree with everyone else that you can’t afford a house yet

Human: I think my friends and family think I’m struggling because I tell them that I can’t afford certain things when really I already maxed out my “going out” budget for the month.

“I’m trying to save money so I’m afraid I’ll have to pass” is all you have to say. The minute you start giving any more detail than that, people will start making up their own conclusions about you and your circumstances.

Don't make it about money. Make it about you choosing to do the things you want to do. People use "I can't afford it" as an excuse instead of being honest. You do not want to do it -- the reason is irrelevant. It is none of anyone's business why and people seems to get offended when you can't afford to go on a trip with them but you can afford to visit your grandma in another country. Or you can't afford to go to the movies but you can afford a new puppy.

Human: I currently do not have a dime to my name and I do not have a job I’m in a stage of growing pains honestly working any job is exhausting and a time waster to me ! I feel I should be doing bigger things not living paycheck to paycheck from a job that’s literally sucking my time that I will never get back but anyway I need advice on what is in my best interest I would love to dedicate my time to something less draining and time wasting eventually, I can’t think of very many options but I’m sure you guys have tons of ideas and options. my mom is ready to kick me to the curb if I don’t make something happen because she too is incredibly not financially stable, bills are due next month and I’m not sure what to do. I’m tired of everybody treating me like a punk because I don’t want to conform and work for employers 40+ hours a week it’s just not for me I honestly look at this as a gift I’m not brainwashed like the rest of the world that think it’s okay to be wasting there precious time. If anybody needs work or has advice for a young man in troubling times please help. -excuse the grammar this is a rough draft of my thoughts -any backlash will be over looked Update- I’m searching for a part time job as I type this thank you all for your input even if it was a bit harsh it was much needed wish me luck PS- sorry for calling you hardworking people brainwashed I’m just a stubborn youngin learning lessons day by day and this has been one of them

Man up and work 9-5 to pay for your bills. During your free times hussle and look for a better alternative. You're an adult so behave like one.

You can make a living doing something you love and not work 9-5, but you have to work towards that. If you spend your free time doing pointless shit, then you are all talk and no action.

Human: My long distance partner wants to buy but I want to rent. We've both been out of university for just over a year now, and are just starting out in our careers. I feel renting would give us the flexibility of finding the right job and location for us both, but my partner says we wouldn't be able to save money if we rented. I understand that getting a mortgage would save us a lot of money in the long run and we would have something to call our own at the end of it all, but I would like to be committed to a job and area before I make a purchase on a property. My partner feels completely different, and our differing opinions are putting a strain on our relationship and its future. Any useful advice, first hand experiences and suggestions on how we can both work through this would be appreciated.

Holy crap you haven't even lived together and you are considering buying? NO. Live together. If you want to buy something, get married, or ONE of you buy it who can afford it alone. Your long distance partner is pressuring you to put the cart before the horse.

You need an amortization table. Practically none of your mortgage goes to equity for years. There are reasons to buy, but that isn't one of them. It's unlikely it will save you money in the short term. This is math. Pick the house you want to buy and compare. If you were in a position where you could commit to a house for many years (this board usually says 5) then that's different. You can't even commit to a city. And that's not a bad thing. If you're still working on settling your life and careers, a house can be a big burden.

Human: ### If you need help, please check the [PF Wiki](https://www.reddit.com/r/personalfinance/wiki/index) to see if your question might be answered there. While we never remove posts just because a question is answered in the wiki, this thread is a low-key place to ask any question no matter how "moronic" you think it might be. *Make a top-level comment if you want to ask a question! Also, please don't downvote "moronic" questions!* If you have not received your answer within 24 hours, you can feel free to [start a discussion](http://www.reddit.com/r/personalfinance/submit?selftext=true). **A big thank you to the many PFers who take time to answer other people's questions!** For past help threads, please search the [Weekly Archive](https://www.reddit.com/r/personalfinance/search?q=title%3A%28%22Weekday+Help%22+OR+%22Moronic+Monday%22%29+author%3AAutoModerator&restrict_sr=on&sort=new&t=year#res-hide-options).

I recently checked my Equifax credit report (usually I only look at Transunion tbh) and I found that I have *TEN* derogatory marks on my report. They are all bills in collections from a surgery I had last year and, after several thousand dollars in payments, thought I had paid off. I haven’t received any calls or letters from the doctor regarding this debt. Yet all ten bills are listed from the same doctor I haven’t heard from, same collector I’ve never heard of, all less than $100. The marks are on 2 dates about a month apart, 5 on each day. Several are identical, suggesting they are the same bill but have multiple separate derogatory marks. Obviously I’m going to call my doctor when the office opens and get these dealt with. But how damaging are these collections for small amounts, before and after they’re paid? It is much worse that the doctor’s billing department, for whatever reason, broke up the bills in such small increments ($13-$62)? How does the same $36 bill result in multiple marks on my report? (And is this normal or common? Nothing like this has happened to me before.)

Yes, those things I’ve definitely been tracking this year thank you!

Human: I've tried to find this answer everywhere - and my HR dept wasn't helpful. I am 50+ and trying to contribute the maximum this year. So far, I've contributed just over 16k. My employer contributed $11K last February. Does this mean I have to stop contributing, or can I keep going until I hit the $18, 500 + 6,000 from my paychecks alone?

The $18,500 limit applies ONLY to deferrals you personally make. There is a separate $55,000 limit for employee *plus* employer contributions. The $6,000 catch-up provision applies only to your catch-up deferrals.

You may find these links helpful: - [401(k) Fund Selection Guide](/r/personalfinance/wiki/401k_funds) - [401(k) FAQs](/r/personalfinance/wiki/401k) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: Hi all, I'm just stopping in as I just found this subreddit recently. I'm currently a year and a half out of college now, in a job that pays me 35k a year, with 87,000 dollars of school debt, and a 10,000 dollar car loan. I am making enough to get by (not a luxury by any means), but just constantly seeing these payments I have to make in come in month after month and taking away everything I've saved up is hard. I stare at these giant numbers wondering if they'll ever go down, or if I am going to pay them the rest of my life. I'm an athletic trainer, I feel as if my company takes advantage of kids who just graduated and given them lower paying jobs. Haven't received any sort of raise yet either after the end of the first year. I guess I'm just trying to figure out, how can I make this better? What can I do to make these loans go away quicker with out paying more and more money that I don't have? Just trying to get my head above water.. Assistant: No raises every year is the equivalent of getting a paycut every year because of inflation. Human: I've heard that before, I just don't really know how to ask for a salary increase without them getting hostile about it. Do I try to schedule a meeting? Do I email them about it? How much do I ask for? I've had other jobs state the salary is 42k, that'd be nice to put towards loans. I just don't know how to get it started without f'ing it all up.

If they don't give you yearly raises automatically then that means they don't value you as an employee. Start putting your resume out there and see if you can find a higher paying job. If you love your job then maybe schedule a meeting to discuss your performance and bring up wanting a raise. Most places have quarterly or yearly performance reviews so you could also wait until one of those meetings.

You find a new job.

Human: I hate my job, i'm not going to get into the details but I've been working at my job for 4 years now. I make 50 grand a year and have full benefits. My commute is about 1 hour each way and I work Monday - Friday from 8-4 but leave my house at 7 and get home at 5. Basically my whole week is just work and nothing else. I have had a YouTube channel for about 3 years now with over 80,000 subscribers. I am averaging about $1,000 a month from YouTube. I love what I do and despite having no time for it (only releasing a video a week) I am still making decent cash. Definitely not enough to live off of, but I could possibly make it work, especially if I started growing. There were a couple months where I made close to $1,800... there have also been several where I only made about $500 (although I've been consistently making about $1,000 for the last 6 months). - I am 26 and still live with my parents. - I have a 4 year bachelor's degree with no debt. - I have my 2012 car paid off and it's reliable and cheap to run - My only monthly bills are car insurance ($60), health insurance ($220 a month/ with my work plan), cell phone ($60), and food ($120). So I technically only need about $500 to break even, luckily I am making double that just off of YouTube, and I also have $25 grand saved in the Bank. I hate my job so much it is killing my soul, I have no drive to do anything. I really want to quit but I have been gradually saving up my money and I am on track to have $50 grand in my bank in 2 years, which will be more than enough to buy my first house. OR I could quit now and invest in YouTube but that could end up failing and then I am in a situation. Again I live my parents but that's not my goal to stay with them my whole life, I want to move out, buy a house, and start a family before I'm 30 and the time is ticking... But I am so unhappy right now and I feel like I am in a position to take a risk.

I would only quit if the channel has a viable path to 30k+. However you may have to prioritize moving out or quitting. Maybe move out closer to your work and see if that changes your attitude towards it? Then if not, and if you can make the $ work, quit and do YT full time.

Just be sure to invest in yourself or your brand and not just your youtube, then you wont be stuck to youtube only, for money. 😁 Youre already on your way with youtube so theres not really that big of a risk to quit then if you were to start from 0.

Human: Hello r/personalfinance! I'm having an issue a local gym that was supposed to cancel my membership but never did. I called about three months ago to cancel my membership because I wanted to avoid paying the annual fee twice (I was paying for a friend's as well.) I haven't been to the gym at all many many months prior to the call because I've been a little too busy. Everything was apparently all fine until a few days ago when they tell me I now have late charges and missed payments. I told them about my situation but calling over the phone to cancel isn't a thing. He said it must've been a new employee and that I'm basically out of luck. I'm expecting to have to pay about roughly $150 including late fees. What are my options? I don't want to be sent to collections or anything but money is tight at the moment so I can't pay for everything. Thanks in advance. Ps. I'm on mobile, so sorry if this formatting is garbage.

This is a very common thing with gyms. Your membership contract should give instructions on how to cancel your membership. If you don't follow those instructions, any new charges are still rightful under your contract and you are responsible for them. Calling and asking to cancel is virtually never the prescribed means for cancellation. It will likely require you to submit a request for cancellation in writing, which you should do via certified mail, return receipt requested (unless specifically instructed otherwise), since gyms have a habit of "losing" cancellation requests. Edit: in general, whenever cancelling a membership/subscription, so so in writing and insist on written confirmation of cancellation so you can dispute any future charges.

Others here have given useful advice on how to avoid such problems going forward but that ship has sailed. What to do now? One key thing in your favor is that $150 may be a big deal to you but it's nothing to the gym or to a collector. Here's the absolute worst-case scenario: You tell the gym to get fucked. Gym turns it over to collections. The collections agency sends you a nasty letter. You respond by disputing the claim as invalid and they go to court (or arbitration) over it. The judge goes over the contract you signed, sees that the gym very carefully spelled out how to cancel the contract, and upholds the award. The gym (and collections guy) knows good and well that this is not worth $150 of their time. So you negotiate. Go to the gym and say "Hey, I made a good-faith effort to cancel this. If you cut it then I'll come back in half an hour and pay cash." Expect a pretty drastic cut too, collectors generally won't pay much for a $150 claim. You could probably get it written off entirely but might have to pay $30 or so just to get rid of it. You will need to get a responsible manager though, not the front desk guy.

Human: I am starting a new job as a higher level systems engineer. My company has me exempt from overtime, which I usually figured would be the case for me. I know there's qualifications for exemptions based off income, but also for certain high-tech fields. What confused me is I only reported 38 hours last week, after a longer (48+ hr) week the previous week. But my paycheck was only 38/40 * my normal 40 hour gross amount. All of my hours are self-reported through an online system. Is there any situation where I can be declared salary, not get overtime, and be reduced for not working 40? If so, how am I in any way salaried? This seems like it would be indistinguishable from an hourly employee, with the disadvantage that I don't get overtime. *Edit: Checked with HR, and it turns out the lowered pay by 2 hours is NOT a mistake, and that is how they have always done it. I mentioned I didn't think that was legal, but I did not push the issue. I agree, the easiest way through this is to fill under-40 hours with reasonably applicable busy work. And while I don't really care about two hours in this case, I am worried a bit that my coworkers are being abused by the policy.*

Tell them to go fuck themselves. Seriously. This is the best economy in years for tech workers, do not take any of this type of bullshit from a company. If they are so stupid, so concerned about nickel and diming their workers that they dock you for 2 hours when you just pulled 8 for free - no way would I want to work for them. Just work your 40 and walk out next week. Oh something else needs to be done? Will I be paid for it? Hmm good for the goose is good for the gander.

Email payroll, ask for them to either add the 2 hours in week two or pay overtime for the 8 hours in week one. They'll probably recognize their error, but if not you can take it to the DOL.

Human: To make the back story short, I came home Thursday morning to my ex bf's stuff gone, some of my stuff gone, and me left with a large amount of bills. I only have $19 to my name right now. I have rent due on the 1st, which can be a few days late. But not two weeks late which is when I get paid again. I have a $350 payday loan that he was going to split paying back with me. I already got the extension because it was originally due on the 21st, now on the 3rd. That's pointless because I still won't have it. I have a $158 phone bill, with one phone not even being used anymore. Got that extended too, but it's going to be cut off on the 5th. I had an interview for a second job yesterday, but even if I get it I won't get paid for another two or three weeks. The $19 isn't even enough to last me on gas to get to work this week. Before anyone suggests plasma donating, I'm deferred for medical reasons so that is not an option. I have lost any and all hope at this point. Idk what to do. I'm so hurt, angry, and my mental health was already on thin ice. Now it's completely screwed. I need some kind of help. Can someone please help me? Tell me anything that I can do? Please please please.

Firstly, now is the time to call in some favors from friends and family. If that's not feasible then: The eviction process takes time and a lot of effort on the part of the landlord. So you can probably wait a couple weeks to pay that until your next paycheck. If you have to let the payday loan go to collections, then that is what you have to do. It will hurt your credit, but it's not the end of the world. Get that 2nd job, so you have more income. After you have some more money, catch up on these bills. Rent should be first - you definitely need somewhere to live. Then your phone - which is way too much btw, cancel whatever services you don't need and talk to some other providers or cancel altogether and get a prepaid phone for the meantime. If your bf moved out, then perhaps you can take on a roommate to help with rent/utilities. Once you are caught up, save up an emergency fund so you don't run into this issue again.

Rent has to be your number 1 priority. I suggest begging for an extension on that payday loan one more time. If they say no, you’ll just have to eat that one and take the penalty. If you’re waiting on a call back for a new job, I would prioritize the phone bill if they won’t grant you an extension. Another option is to see if the phone people will take a partial payment. There isn’t really any “get rich quick” schemes that would help here but you might want to check out Craigslist or Facebook marketplace and list anything you could possibly live without. Any collectibles, nice dishes, movies, games, furniture. Also, some people list services such as house cleaning, offer to dye someone’s hair, pet sitting, taking an elderly person to a doctors appt for a few dollars, etc. Anything. Pull yourself out of this rut. Once this is cleaned up, see what bills you can trash, even temporarily. Cable, internet, phone bill reduced, any subscriptions or online gaming, Pandora, literally anything that can be trimmed, trim that shit. Be ready to be hungry. Either ditch grocery shopping and live out of your pantry / fridge for the next month, or do NOT buy anything fancier than ramen or dry rice and beans and tap water. Good luck and keep your chin up. It’s going to suck a dick, but you can pull out of this.

Human: I made the mistake of opening a Best Buy Credit Card in order to purchase equipment for my photography business. I fell for the old 0% for 12 months. Fast forward I didn’t pay off the card within that period. My limit was $5,600 (which I did not exceed), however, I now owe $6,018.93 (@ 26.99%) because I was charged the deferred interest. I took an interest free loan from my mother-in-law (bless her heart) for $5,000. Today I paid off $1,872.49 to avoid more deferred interest charges, which would have been an additional $579.49 charge. The remaining balance is $4,146.44. I have $3,127.51 left to try and pay off this card, but I want to be smart about it. I’m $1,018.93 short. Is it worth trying to negotiate the APR? Worth negotiating the deferred interest? So far they won’t budge. One manager told me that they only negotiate with delinquent accounts. Is it worth letting my account go into a delinquent status, so I can cut a better deal? Will that trash my credit? I have a credit score of 720, so I don’t want to cut my nose to spite my face. Advice going forward is deeply appreciated. Thank You.

> Is it worth letting my account go into a delinquent status, so I can cut a better deal? No. > Will that trash my credit? Yes

Do a transfer to a new card.

Human: Let me first say, yes, I know we are not married. But, we have everything arranged, with the help of an attorney, should anything go south. We are both very protected in case something happens. Now for the title part. Unfortunately due to past mistakes by my fiance, I am the only one able to be approved for the mortgage. Everything went fine there and we are settling November 16th. Is anyone familiar with the process of adding someone to the title or deed that isn't on the mortgage. We will be married very soon, after all that settles we will look into adding her to the mortgage if it is feasible. The reason we want her on the title as well is, she is paying half of everything so it sounds like the right thing to do. Also, her father stated he wishes to help financially by gifting a nice sum after we move in. But only feels comfortable doing so if her name is on the title. Anyone have any experience with this? Thanks in advance.

Don't buy a house with someone you aren't married to. Also, prenups can be tossed out on a whim, no matter how iron-clad they may seem.

What is the reason she needs to be on the mortgage/title? If it's just "tradition", throw that out the window, but the house alone, get married, live your life in the house. If it's, "If I die, she will be homeless", get married, then write up a will that leaves her the house. Beyond the "don't buy a house together unless you're married" aspect, here's a few things to think about. To add her to the title after you've bought the house separately will cost you money. To add her to the mortgage after you've finalized will require a refinancing, including more closing costs. Don't put her on the title and not the mortgage. That is not a smart move for you, even if you trust her implicitly.

Human: >Thank you for the post replies so far. Definitely a mix of tech and non-tech responses here. Lessons learned, and luckily I have other offers so this won't make me homeless or anything like that. Will ask this question to the tech group tomorrow just for the sake of discussion and so someone else can learn from my mistakes. But I know what I should avoid/do better in my next negotiations! Thank you to the 1 idiot (lol, 250k views, 1k+ comments, and you were the only one), the rest of you were harsh but appropriately and I probably deserved a harsh response to remember. :) Just trying to learn what mistake I made... ​ **location**: Toronto, Canada. ​ **me**: 3 years of professional experience (internship, startup). 2 years as Lead Developer at a startup, 1 year of internship. MSc degree on big data related project (source code is public, demo website is also public, pretty innovative approach to handling big data). Nothing too complex, but still cool project where I was doing everything from design to development to server config. ​ **company**: startup with 15 employees. No idea about funding status (offer withdrawn rather than give me this answer). Dev team has 5 devs. ​ **job**: full stack developer, 3 years of professional experience, MSc degree, experience with front-end, back-end, some Android and iOS experience would be an asset. ​ **Offer**: here's a summary of what happened in series, emails were professional and courteous (I've worked in a formal office environment). ​ * Company: what is your salary expectation? * Me: I've made 70k before * Company: when did you get this? we don't see anything on your resume that would pay this (note: lead position is listed there) * Me: as a lead developer at last company (startup, linked to the company website) * Company: here's our offer: >\* base salary: 75k > >\* hours: min 40 hrs, but variable as needed to accomplish the goals > >\* benefits: 80% dental and vision, 3 week vacation, 10 sick days > >\* can't have side business > >\* 1 month notice required from me > >\* company can end employment as per province of Ontario's notice period laws > >\* 3 month probation period ​ * Me: Could I get more details on the dental and vision plan, and could we up the number to 90k? (note: I was looking for some movement up) * Company: 75k is max we can do, at 90k we would look for someone with intermediate level experience. (note: every company I've interviewed with has put me in intermediate category, 2/5 interviews have been for senior positions BASED ON RESUME AFTER I applied for a non-senior position) * Me: 75k is fine, I'm looking for a long-term opportunity. May I get answers to the following Qs: >would you agree to flex scheduling or work from home on some days? I am okay with 40+ hrs required, but I would prefer some flexibility here to run occational errands or workout etc. > >Will company provide dev computer, or will I use my own? (note: there was a clause in the contract that was talking about equipment so I asked...) > >Can I bundle sick days and vacation as 'paid time off' > >there is a mistake in the contract clause (country should be canada) > >Given the 1 month resignation notice from me, could you match that from your side? (note: ontario laws require 1 week notice per year of employemnt, so it would have taken 4 years for me to get a 1 month termination notice/pay) > >Is the company a privately held or seed/A/B/C funded? * Company: we withdraw, expectations are too far off. best of luck in your search. * Me: no problem, wish you the best in your search as well. ​ **May be I made the following mistakes:** 1. Asking too much $? 2. Mentioning working out? 3. May be sick and vacation bundle is a red flag? 4. Asking for details on the company funding? 5. Asking 6 bullet point questions/consideration simultaneously? Is that bad enough to withdraw offer? ​ If someone could help me understand my mistake(s) I would appreciate it. I was seriously considering it as a job I can keep for 4-5 years when the CEO abruptly ended negotiations. Assistant: Would not have put examples of what you needed flex time for, and ESPECIALLY not working out as one. Human: I definitely regret that now. It does sound unprof.

If flex time is important, or a deal breaker, then ask for it. If not, I wouldn’t bring it up until after your probation period is over and you’ve proved you can do the job. I would never say I want to workout etc. All they need to know is that you work from home and you get your job done.

Mate you dodged a fucking bullet. A few very very minor mistakes were made but your demands were not at all unrealistic. Best of luck finding something better.

Human: I have upward of 50k equity in my home. I can pull some of that out to pay off debts, but I'm worried that it won't make sense in the long run.

It can be a very expensive way to get to 50K. If you have to refinance anyway (get rid of PMI or whatever), then moving the amounts around doesn't matter to me. You can do the same thing with a HELOC, usually for less closing, if you want to shuffle your debt onto your house. None of this fixes the problem that you are in debt because you spend more than you make, and secured debt adds risk.

How much are you looking to pull out? How much debt at what rate? Before you do this, you should see what other options you have to pay down the debt.

Human: The grandparents have started 529s for our two sons 4 and 1 years old. We are still working through our debts and plan on starting to save for their college education in about 3 years. The grandparents have invited us to contribute to their account. This makes me uncomfortable because the account owner always has control over the account. I’ve explained this to my husband but he feels like it’s really offensive because they would never touch their money. Am I being too paranoid? Isn’t there another reason to open parent-owned 529s (like it’s not counted as income) that I can use as a less offensive reason for opening our own accounts? Edit: California

Into your own name, shit happens when family members pass; be a bitch to fight family

Your own. All they have to do to close it is pay the tax penalty.

Human: I am 25 married w/2 kids. Make 50k/year, no degree, and live in the Midwest. I bought a home in 2015 for \~100k. I owe 73k and it worth $150k. I have $7k in savings/emergency fund but no retirement. My wife is going to school to be a teacher we have not taken out any loans for her schooling and is she about half way done. Would it be a wise decision to join the military? I would sell my house, collect that income, save, and invest it. I think my entry level military salary + BAS would be $23k + $4,400 untaxed. Which is a significant decrease but I would not need to pay my mortage/utilities/repairs etc. Also since I do not have a degree I am no where near recession proof. Just wondering if anyone else has thought about do this?

Just keep what you're doing. Don't take any loans for her schooling. Once she is done, she'll get a job and your income should about double. Don't take out any loans or debt. Just slowly pay off your mortgage. You seem to be in a good situation, no need to go into the military from a financial standpoint. Unless of course you just WANT to go.

No. Join the military if you want to actually be in the military. Getting a degree doesn’t make you recessionproof. Start saving for retirement on your own. Your wife will probably have some sort of retirement through the school system, if she teaches for long enough. You can both have IRAs and put up to $11k a year into your retirement, starting now. You’ll have social security (of some sort. Maybe.) What problem does joining the military actually solve for you?

Human: I'm coming up on 40 years old (in 3 months), and I absolutely hate the company I work for. I work from home, I've invested 10 years of my life to this company and while I have constantly outperformed every member of my team by a large margin for the better part of a decade, the company shows little to no appreciation for my investments to their cause. I think my biggest hurdle at this point is not wanting to dive in to the 2 hours of travel every day that will inevitably come switching jobs and the unknowns. ​ I never plan on fully retiring, but I do want to to shift careers, I currently make roughly $60k a year, working from home that translates to $70k or more not having to buy clothes, gas, wear and tear on my vehicles, etc. ​ * I currently own my home, I have roughly $100,000 in equity in the home (bought it for 170k \~4 years ago, now worth 280k) * I own all my vehicles outright. * I have \~40k in my 401k * $400,000 invested in a portfolio. I plan on moving that portfolio to Vanguard and going the 3 fund route by the end of the year. * I have roughly $60,000 in cash. * The only debt I have is a low $100 monthly payment on student loans, total debt $28,000 I plan on moving away from my current location where housing prices are astronomical to Texas where my money goes a lot farther within 9 months, hence why I'm sticking out my current job. ​ I don't want to retire completely, I'd be bored. I'm currently in sales, and I'm very interested in Real Estate which I would love to take on once I get to Texas. I simply want to know what I really need to watch out for so I can do other things if I leave my job after I move. ​ Thank you ​

>How soon can I retire? >I never plan on fully retiring >I don't necessarily want to retire completely I don't know how to help you.

Pay off that loan first

Human: What are your thoughts on sticking with a job and not constantly trying to jump from job to job for better pay but higher workload? I work hourly, don't have to do sales, don't get a bonus, and don't take my work home with me. I feel almost shamed by reading this sub sometimes because it seems like everybody else is striving for retirement at 35 at the cost of 70 hour work weeks. I live in a low COL area with a decent job that offers a good balance at 45k/yr. My wife is a new attorney making 68k/yr and we are about to have a baby. We have around 200k in debt (1/2 is mortgage, 1/2 law school loans) which isn't that bad to manage. I just don't feel a huge rush to move up, which seems to be the opposite of the average advice on this sub. Settling feels like failing in the PF world.

I have been at my job 7 years. They offer really good benefits - 10% matching funds and a month of vacation every year, plus it's like 10 minutes from my house. I keep planning on leaving but then just stay.

Not everyone is cut out to achieve great things. Make yourself happy.

Human: I looked through the sections of this subreddit and got some cool info regarding avalanche and snowball methods of paying off debt. Heres my situation...I think that the avalanche method will work best for me but I have a quick question first. I have a card maxed out at 10k, paying 26% interest. Minimum payments are $225/month. I have another card maxed out at 5k but that is 0% interest for another 12 months. I want to tackle the 10k first. I went to a credit card debt counseling program in my hometown and they provided me a program that would lower my interest rate to 11% and set up auto payments for me at $250 a month. I’m happy they offered to chop my interest rate in half which would enable me feel more okay with making massive payments on this account. My goal would be to pay $400-500 per month. The only thing I don’t like about this program is that my minimum payments would not go down as my balance starts to decrease like it would if I just made payments directly to my credit card account. If there is a month where I pay off $600 but the next month I’m strapped for cash, I’m still stuck with that minimum $250 payment. If I didn’t do this program, I could see my minimums go down which would make it easier on me if I fell on hard times for a month here and there. Should I go with this program to lower my interest rate or just not do it and pay off my balance dealing with the 26% interest rate? An issue with the program is that it would close my account, which I understand could hurt my credit score. Reddit, what’s my best option? I’m serious about becoming debt free and this 10k card gives me daily stress I don’t need. I just want to know my best option for getting it done quickly and efficiently. Thank you in advance!

Taking the 11% deal will have you pay the least total amount. I'm assuming you don't have an emergency fund? Even saving up as little as $1000 would give you some cushion. I would make this a priority regardless of which path you take. Can you post your full budget here? We may be able to help you find some more money to throw at the debt.

Interest rate means very little is your paying off the debt in less than a year, just pay off the card, and stop spending more than you make.

Human: When I first started college, my parents told me they would not contribute to my education. I go to an ivy league university that is notably expensive, but offers significant aid. I am in a different state than my parents and havent lived in my home state for multiple years now. Coming in, I had a full ride scholarship based on need. My parents were making ~$75k a year. Now they're making ~$120k and still refuse to contribute to me financially whatsoever although I have lost a significant amount of aid. I take out about $30,000 a year in loans in what my parents are expected to pay. (The only exception is they buy me flight tickets home for Christmas, but that's considered my Christmas gift.) My parents don't believe that their income change affects my aid because I filed taxes independently, but FAFSA doesn't consider that as financially independent. (I made a total of $1000 last year). No matter how many times I tell them. I find it incredibly frustrating watching them buy a brand new 2018 car with all the bells and whistles while I'm entirely living off of loans. This week, I've been living off of $100 for two weeks and my two bank accounts are less than a dollar right now. My loans haven't gone through yet, & I don't have ANY money for food. I have been relying on other people. my rent is a day late already, my bike (only method of transportation for me) was stolen yesterday, and my glasses just broke. I'm tired of relying on loans that don't come through in time to pay for things I need. Is there a way to change my FAFSA information so that it accurately represents my financial situation independent from my parents?

>I made a total of $1000 last year Any particular reason you can't work a legit part-time job?

>My parents don't believe that their income change affects my aid because I filed taxes independently Well, you can tell them over and over that whether you file your taxes or not, and whether you are their tax dependent or not, FAFSA does not consider you an "independent student." So their income is used in determining the EFC, and if that goes up your aid goes down. They probably do know this; they just don't feel like spending more than they have on your education. An increased EFC does not obligate them to pay more.

Human: So in July, I went back to work for a former employer. I had changed banks, and told the employer not to deposit into the old account. They said first checks are always paper checks, not to worry. (It should be noted that we left this bank because of their many record keeping errors.) Well of course the check was sent to the old bank. I checked online and it said it was returned to the employer. Great. I can deal with that. Called to make sure . Yep, it was returned. A little inconvenient, but I'll get a paper check from work, no big deal. Thought no more of it. Today, 2 months later, I hear from work that the money was never returned. I no longer work here, as my hours were reduced to 1 day/week, so they had no problem sending a not so nice email. I called the bank, and apparently there were fees associated with us closing the account, so, after noting it as returned on my statement and verbally confirming this, they decided to take the money and just keep it. So, in essence, I unknowingly stole from my employer. My question is, can my employer dispute the deposit? Or am I just on the hook for this one?

File a complaint with the Consumer Financial Protection Bureau.

Contact your local AG and CFPB.

Human: Let me start off by saying I love my grandma very much and I’m not just worried about if I’m getting any money from her passing. My grandma only has a few weeks left to live and my friend asked me if I’m getting any inheritance money, which I didn’t know about. How does it work exactly? I know that when my parents die (if I’m younger than 27) the money is going to my aunt for her to hold until I turn 27. If I’m in my grandma’s will, how will I know? Will I have to wait until I’m 27 as well? The only reason I’m concerned is is that I’m in school and am tight on money because of all the bills I have to pay. I’m also looking to get an apartment with my friend to escape my mentally and physically abusive mother.

You definitely do not always get inheritance. It’s 100% up to the writer of a trust or will.

Source: I went to undergraduate school with rich kids. Unless the money is in an iron tight trust don’t count on a dime. The parents/adult kids are usually the ones to squander everything if long term or health care costs don’t mess it up

Human: I’ve been at this company for more than three years, and am being let go as part of “restructuring”. The company is being sold to a previous employee and he can’t afford to keep some of us. I asked my boss about severance and he said it wouldn’t be offered, but they wouldn’t refute any unemployment claims. I’m woefully ignorant on the program and assumed it was just for drug addicts, homeless, and those who sincerely need help. I imagine it will take me a few weeks to find a new job, so should I swallow my pride and apply for unemployment?

Sure that’s whats it for.

Unemployment is there for people who are unable to support themselves and lose their job. If this fits you, then you can apply. You could also focus on finding a job and you very well might find a job before you even get your first unemployment check.

Human: I don’t have a lot, but it’s money I’ve saved up over the past year. I’m back in school and I have strangers for roommates. Not that I’m assuming they’ll steal my stuff but would it be more ideal to just store whatever money I have in the bank?

Banks are safer than your mattress and also pay interest so yes.

Yes, you should put your cash in the bank. You should never keep large sums of money in cash around your home/apartment/dorm, because it's susceptible to theft, loss, and destruction. In a bank, it's safe and it's insured. Additionally, if you put it in a savings account, it will earn you interest. It may not be a lot, but it's better than the nothing that your mattress gives you

Human: Hi! The Medical Billing at my wife's obgyn chose to keep our deposit on our sons circumcision due to a pending balance on my wife's account, without notifying us and without our authorization. We were told in the doctor's office that we would need to put down 300$ as a deposit in case our insurance didnt cover the circumcision, which they did in full, and that we would get the deposit back once they billed the insurance. When we called to ask about the status of the check, they told us that the insurance did cover it but the billing department for the doctors office put our deposit check to my wife's balance. I understand that we did owe them money for my wife's stuff with the doctor, but I dont think they should be able to just keep that deposit. I contacted their billing and they said they won't issue the refund. Should we try to fight this? And if so, what kind of attorney would handle this kind of thing? Edit: the main issue is that we didnt authorize them to use that deposit to pay any balances we had. They also told us that we would get the money back as long as the insurance covered the bill. They didnt say that if we had any balances they would use our deposit to cover it.

You gave them money for something else. They didn't need it but you had other bills with them so they used it for that. Seems legit. If you get it back wouldn't you just give it right back to them anyways?

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Human: So my wife is pregnant with our first and she was laid off in march and unemployment ran out. She nannys but that income is only about 800-1k a month. Im in sales and my income fluctuates but basically since her unemployment ran out and shes 7.5 months preg we are on 1 income. I bring in anywhere from 4-6k monthly but we have 5k in monthly bills. Our savings has been destroyed by stupid spending habits and getting ready for the baby. The stupid spending has stopped when things started getting tight and it seems like my paychecks have been break even at best. I have at least 30k in an old 401k from a previous job. As terrible as it is to say I dont think I will ever retire. I have too much debt and I feel like the system is set up for failure for my generation(thats a whole different story). Any advice? Edit: Combined monthly bills Monthly car payments- $900 Student loan payments -$750 Rent - $2000 Cell Phone - $200 Credit card - $200(more than min monthly) Cable/internet - $200 Utilities - $300 Grocery - $300 Miscellaneous - $200 Things I know already- my car payments are too expensive, Comcast is expensive, student loans suck(and have already been refinanced). I dont need to be scolded about my spending because the guilt i feel is far worse than what you say. Im just a guy trying his best and trying to support my wife and soon to be born daughter. I appreciate the advice.

Your savings was "destroyed by stupid spending habits" and then you determined that "the system is set up for failure for my generation"? Advice? Budget and be frugal for a while and do not touch that 401k.

You may find these links helpful: - [401(k) Fund Selection Guide](/r/personalfinance/wiki/401k_funds) - [401(k) FAQs](/r/personalfinance/wiki/401k) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: It seems like rent/mortgage prices are through the roof, while wages slowly climb upwards. I know this rule is per-case basis, but I just wonder how many people (who aren't doctors in 10,000 population cities) actually fall within this rule. ​ I'm looking at moving to *DOUBLE* my salary, and I'd still be spending 42% on rent... Because there is literally no other option aside from living in the projects.

I stay in the bay area and 100% of my income goes in housing. I don't eat.

If you want advice about your situation, then post details about your situation. Whether or not it's reasonable for you has nothing to do with what anyone else spends.

Human: A few weeks ago my mom attended this personal finance seminar. She's been soooo swayed by everything they've said since. The lady that introduced this to her apparently works for Trans America, Voya, and WFG. Or at least that's what I got from this. This lady takes extra measure to either answer me with lingo I don't understand, or give some indirect or incomplete answer. My mom has fallen for MLMs in the past ans I've warned her SO many times to not sign up for this shit but today she told me they're admitting her to the company. UGH!   My mom doesn't even know the damn company she's joining. She's a Chinese immigrant that barely knows a lick of English so she gets scammed a lot. So all I can pull from their group chat on WeChat is that this is a universal life insurance company called VOYA, that their office is called "Radnor Office" in Pennsylvania, and I have a few brochures in Chinese (that I don't know how to read unfortunately). I'll link them here. Lastly she told me she would have to apply for licenses, and then her job would be to recruit others and get commision from them. To me thats a big red flag but I need a second opinion.   Thank you all so much for reading this and please let me know if this is fishy!! I'm really scared she fell for something again after I told her to NOT do anything without consulting me, and I already told her I don't trust them but I guess she'd rather trust this charismatic stranger than her own son! https://www.scribd.com/document/389363790/CHineseGlobal-Choice-Buyers-Guide-165647-pdf https://www.scribd.com/document/389363789/Voya-IUL-Global-Choice-FAAG-Chinese-165649-pdf EDIT: She just told me she had to pay $100 for training and licensing...

>and then her job would be to recruit others and get commision from them. To me thats a big red flag but I need a second opinion. Yes, that is the structure of an MLM - same with beach body, shakeology, amway, primerica, etc etc Edit: This is basically what she would be selling: http://forprofessionals.voya.com/products-services/life-insurance

Seems fishy AF, not totally familiar with this space but this has all the tell tale signs of a scam. Most real employment positions in the financial industry do not come about from "seminars"

Human: I recently just got my first credit card. I has a 0% apr until April. I just got it to build my credit since I don't have any. How should I go about using the card and making payments. I read since it has a o% apr, I read that I should just pay the minimum until that trial is over.

No, you should always pay the full amount every month after the statement is generated. Paying only minimums is how people fall into the hole of debt. Dont do it

You may find these links helpful: - [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit) - [Credit Reports](/r/personalfinance/wiki/credit_reports) - [FICO / Credit Scores](/r/personalfinance/wiki/fico) - [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: TLDR at bottom, long post. I need to move out. Tried living at home first semester while my parents paid for everything but I can’t do it. Every decision I make is scrutinized and reviewed by them. They repeatedly threaten to stop paying tuition just because I don’t do exactly what they want, or would have done in that exact situation. For instance: “oh you probably shouldn’t go out so late on a Friday night. Who are you going to see anyways?” “I’m just hanging out with some friends.” “Who are they” “Just some friends of mine why” “Will there be alcohol there” “I don’t know” “We raised you better than to be doing that crap.” “What the heck I don’t even know if anyone is going to drink we’re just hanging out.” “Keep talking to me that way and being disrespectful and me and your mother will stop paying for your college and your car.” And for this reason I just have to call their bluff. I realize not having debt when you come out of college is a huge deal, but especially with my major (physical therapy) I don’t anticipate money being too short to the point I can’t pay a couple hundred a month back towards a loan. Along with the other reasons they track my location, tell me I am “forbidden” from doing things even if it is not in their house such as drinking, smoking, or sex. Not that I would do it in their house but I feel patronized by the fact they feel the need to control me like this. Right now I’m my parents bitch (sorry to put it so blunt but it’s true) since they know all they have to do is threaten to pull tuition and I’ll do whatever they want. I am a legal adult now and I don’t appreciate being manipulated like this so I am making the decision to move out even if it means I need loans, two jobs, and I have to take the bus everywhere. These are the personal finance questions I need help with: 1) How long does a Stafford loan take from applying to receiving funds? I don’t think I’ll be able to get a private loan since I seriously doubt after moving out my parents would be open to co-sign. Also I do not have a credit history. 2) Are there any other ways to get a loan for college that are not a scam or trap? I have heard of certain third party institutions/companies that say you can take out up to 10k a year for school and only have to pay back 40 a month. I assume these are a pitfall and have high interest. Are there any of these that aren’t and might be worth looking into? 3) Back to the stafford loan, if I am living on my own am I able to claim as an independent? The cap for claiming as an independent is substantially higher on the government website, 9,500 if I remember correctly. 4) What is a good beginning credit card to start building credit? 5) Right now I have a joint account with my mother because when she created it I was not a legal adult so she had to be added on the account. I am a legal adult in my state now, is there any way to make that account to only in my name? I assume it would need her signature but maybe not since it was made under my name but just with my mother as custodian, does that mean now that I’m an adult I can request to not have a custodian and it be a regular account? I know this is a lot but thank you for the helpful souls that answer this, you are really, REALLY helping me out. To anyone who is going to tell me I should just suck it up and live with them since I am getting tuition plus a car out of it: please don’t. I I already have mental heath issues and the last thing I need is to be in a toxic environment where my parents are using my financial dependence on them as a means of manipulating me to do whatever they want. Edit: apparently my dad has now taken my ps4 that I paid for out of my room because he thought I was being distracted by it. TL;DR: Basically I just need you to answer the numbered list in the middle of this ridiculously long post.

A good beginner card is the Discover student card. They approve literally anyone and have good benefits. With no credit, no long job or living history I qualified and got my card within a week. It’s really been a breeze building credit from there.

Student loans are way more of a burden than helicopter parents. You really don't want that monkey on your back if you can avoid it.

Human: Basically have to pay my next statement however there are several returns/refunds pending.. Do I still pay the full amount (i.e pay for the merchandise that is getting refunded either way)? Will that alter anything in terms of receiving the return payment?

I'd just pay the full statement to ensure I'm paying on time. When the returns hit, they'll just be a credit to your balance at the time

You may find these links helpful: - [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit) - [Credit Cards](/r/personalfinance/wiki/creditcards) - [FICO / Credit Scores](/r/personalfinance/wiki/fico) - [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: Sort of a newb at investing. I'm invested in the VTI index fund and based on their dividend history it looks like they will issue one very soon. Does it make sense to make a big investment in VTI now so that I can maximize this dividend? I'm too new to investing to know if that is smart or dumb.

It can depend on your account. >**Think about dividends before investing a large amount** Dividends are announced several days or weeks before they're paid. It could seem like a good idea to buy shares of a stock or fund just in time to get the dividend payment—but in many cases, it's not. If you're investing through a tax-deferred account, dividends won't impact your tax situation. But if you're investing through a taxable account, these dividend payments will lead to additional taxes for you. Read through the example at Vanguard's [Buying a dividend](https://investor.vanguard.com/investing/taxes/buying-dividend).

You may find these links helpful: - ["How to handle $"](/r/personalfinance/wiki/commontopics) - [Investing](/r/personalfinance/wiki/investing) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: Hey everyone - I'm 30 years old and am preparing to propose to my girlfriend next year. We've been looking at rings and I know she wants something pretty significant. We make about $300k combined (I'm expecting to have a significant pay raise in the next few years) and have zero debt. Our monthly housing/bills etc not including food and extras is about 5k and we don't have cars. ​ We will most likely be having a court house wedding with a small dinner held and paid for by our parents (we have both discussed not be interested in hosting a wedding and are set on this). I want to get her something amazing, since this will be the emblem of our marriage. We run in a pretty successful circle of people, so I want to get her something at least on par with what her friends and my clients wives have (which is at least 2 carats). I know reddit is going to annihilate me over this, but I think its necessary to bring up. ​ Anyway, my question is - how much do I spend on a ring? Is something $20-40k ridiculous given that we won't be paying for a wedding and don't have debt? Will I seriously regret this long term? HELP ​ ​

My ring is over 2 carats and was close to $20k many years ago, he offers to get me a bigger diamond all the time but I think they look weird and a bit fake when they get too big. I have my mothers 5 carat ring and never wear it. So if you can afford it and she wants one get her a decent 2+ with good Cs.

I mean, I'm all about paying less for diamonds cause they're just not worth it. But the standard '3 months pay' puts you at just under 40k (300k/2 for your salary, /4 for 3 months salary). So that is the expectation in diamond ring world.

Human: I currently own a 2010 subaru and I always figured I’d drive it till the wheels fall off. But I have been considering a new car since I commute and spend a lot of my life in my vehicle. What I’m trying to weigh out is would it be better to get a newer (used) car now while there’s still some value in my current car? Or just wait until I truly need a new car (and have less money towards the new one from selling the old one)? Any input is appreciated. BTW I have an excellent credit score and I have cash saved for a down payment on a new car. I have no debt.

Upgrade it while it "still has value" and your new car depreciates FAR FASTER than your current car ​ Financially speaking you will be worse off

I just went through this last week and ended up with a new car. I had a 2015 Altima with extremely low mileage (25k) and in perfect shape. My commute was about to go from 8 miles to 40 miles daily. The KBB on my Altima was higher than my current ‘still owed’ amount. I decided to trade it in for an Equinox with good gas mileage and something I’d feel safer on the road with. Haven’t looked back. Value on my Altima would have plummeted with the added mileage by Christmas lol.

Human: Here's all the info that I think is relevant: * I'm a freshman attending public university in Florida. * The only loan I have is subsidized and I plan to not touch unless absolutely necessary. * I didn't get any Pell Grants. * I do not work and do not plan to work while in college unless it's an internship/co-op or is the next step after it. * my spouse will work. He's still debating whether or not to work 40+ hours a week for a year before attending uni or to work 15-20 while attending uni. Will I benefit anywhere from being married? Can I somehow cheat the system and save some money by being married? Me and my "spouse" are just a couple of homies looking to save money wherever we can and we ain't gay. Is there any relevant information that I did not provide? Will the cost of eventual divorce be greater than the benefits of marriage in college?

> Me and my "spouse" are just a couple of homies looking to save money wherever we can and we ain't gay You probably could've left this part out

I can't think of any financial benefits. Kinda depends on what country you're in. Maybe healthcare?

Human: Today I went to go buy a car I have been looking at for a while. It was listed at $21,000 and they offered me $5,500 for my trade so that would have made the cost $15,500... right? Well they go about doing the numbers with the good cop bad cop scheme with the manager and come back to me with $425 a month for 72 months. I totaled that up and it was $30,600 and I'm like... what the hell. I asked them what the interest rate was 3 times and they looked at me like I was the dumb one. Granted I am a 24 year old woman, I know what an interest rate is. Can someone check my math here, did they just try to offer me a 100% interest rate almost?? I stood up and walked out of there without giving them another word. They have been texting and calling me but I am so appalled. Edit: Credit score is 580, trade in is paid off. Me and my husband bring in $4K a month. Also they tried to get me to not put him on there and only use my income because he has no credit yet. I was looking at a brand new honda. They said a lifetime powertrain warranty was included. Thank you for everyone who gave me good solid advice. As for the people saying I should keep my car, I cant. It's a 2013 Ford focus and the transmission is shot. Ford says there isn't anything wrong with it. There is currently a class action against them. I don't know why my credit is low. I paid off my last car with no late payments at all. I have a couple credit cards that I pay on and have never been late and some hospital bills that I refuse to pay. So I don't know. And to all of the rude people going through my comment history and harassing me, go find something else to do. Sorry for going missing, I had to be up at 5AM to work! Some of these comments are making me feel like straight shit though. In my part of the country we don't make a lot of money. I'm a college educated certified CPhT not a fucking fast food worker.

Dont buy a new car. Your credit score clearly reflects that you don't understand credit and make poor choices with it.

wait a year. get a tesla model 3! no hassles you get what you pay for! no hidden fees!

Human: Living in the US. Due to the nature of my job, I'm basically prohibited from investing in 99% of financial instruments(stock, bond, etf, index funds, options etc). I am only allowed to invest in things that have little risk of insider trading such as 1. A very short list of approved mutual funds 2. Cryptocurrencies 3. Real estate... Crypto is beyond my risk preference and I don't have enough saved for a down payment on an average home yet. I have just reached my goal of saving ~10 months worth of emergency fund so I want to started investing. I live on a budget and I have stabilized it such that I can save around 30% of my post-tax income every month. As a foreign citizen I don't have much incentive to contribute to my 401k. I am wondering what would be some good alternatives that I should consider investing in?

You should be able to invest in index funds, and that would be your best choice.

You may find these links helpful: - ["How to handle $"](/r/personalfinance/wiki/commontopics) - [Investing](/r/personalfinance/wiki/investing) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*

Human: Hello all! I worked a job this summer while not at school and I made a bunch of money. I don't need $10,000 of it until March, and I am trying to figure out what to do with it until then to make a little bit of money off of it since most of it is accruing interest since I have student loan debt rn. Should I put it in an online savings account with like at 1.8% APY? Can I even do that if I only put it in for 6 months? Should I invest in Robinhood?? Does lending club work? How can I maximize this money. I have done some research, but I cant find much information to help me make a decision on my exact situation. I will not be in trouble if I lose about $5000 of it, but any more wouldn't be good. TY!! Assistant: I didn't mention that I will not be totally screwed if I lose all of it. I could probably lose like $5000 of it an still be fine, just not ideal

You could gain a guaranteed $50-100 by putting it into Ally, or you could potentially lose up to $5000 if you invest it poorly. It's your choice to pick the risk level but you should be prepared for it. Most people here will advise you to take the safe pick.

If you don't need all the money in the short term, you could put some of it in riskier investments. I would probably keep all of it in cash/online savings. When I was in school having $10,000 saved me a lot of times when I had an emergency.

Human: I'm 19, my dad is the only one who brings home money, he works for a small farm and has been getting paid by check so we have no 'income'. He admitted today completely lethargic and delorious and they cant find whats wrong with him and now they want to Ambulance him to another bigger hospital. All I can think about is how the hell we are going to pay for this. Im going to talk to 'social workers' at the next hospital abiut insurance but ive seen alot of great advice here. I apologize if my posts break rules i didn't check the guidelines. Thank you PF UPDATE: My father was discharged after many tests that all came back totally fine, other than the fact that his back is more fucked up than we thought. Thank you to those who posted helpful advice and compassionate condolences.

You should avoid signing any "financial responsibility" forms. The financial responsibility is your father's. If he makes little money, see about signing up for Medicaid. You can ask every medical professional about costs involved in various treatment options. The answers may not be helpful, but you can at least ask.

If the hospital does not have a charity program, you can set up a payment plan. Also dont allow anybody other than the doctor treating your dad, docs will pop in so they can charge you.

Human: Over the past few weeks I've been looking to get out of my current job for several reasons, mostly because of the job content and pay. I interviewed last Friday for a management position where they admitted to me that I seemed as though I might be overqualified based on my experience. I responded that since I didn't have a degree in the industry I felt that I would need to prove my experience qualified me. Today I was offered the job. I quickly replied saying that I would like their hourly rate paid as a salary, and that I would like it increased 10% (still within their advertised range) since my skills would bring value outside the scope of the role and because due to timing I wouldn't be eligible for review for over a year. After I sent the counter, I received a message from the HR person thanking me for my reply and stating they would discuss it and get back to me. Did I screw it up asking for more money, or am I just being paranoid and they may take a day or two to discuss? This is my first time having a real negotiation for a salary, and honestly I would have taken the lower salary, but I felt that based on my skills and the position, I could justify the higher pay. I'm just nervous about them rescinding the offer.

Give it a little time! This is what I call "Job Search Time Dilation." It feels like a long wait for you because you need the job, and they offered it. When I was in charge of hiring at one company, we were told to intentionally delay people who were asking for more money. More often than not, they would call back and accept the lower offer because they were afraid of losing the offer all together. As much as you want to make the extra money (and deservedly so) the company wants to keep the extra money as profits. You know your worth, and should be commended for taking action to see that you arent undervalued. You made a good case for the requested increase. Most importantly, you said that the amount you requested is within their advertised pay scale. That shows they are already willing to pay that amount. Frankly, that company should be happy. They have admitted that you are overqualified, and you have expressed that you are still willing to take the job within their pay schedule. From that standpoint, you are doing them a favor. FWIW, I'd recommend allowing a business day to pass before calling them to request an update. (Don't cave in!) Express that you are still interested in the opportunity. See if you can get them to give you a timetable, or at the very least schedule a time to have soneone call you back, that way you won't have to worry about hearing from them. Good Luck!

The HR person acknowledged your response so just give it a little bit of time. The HR person is most likely following up with the hiring manager. It's possible that the hiring manager will need a bit of time to consider, or even consult others, before making a decision.

Human: Let me preface this with the fact that I am about to have to declare Chap7 bankruptcy due to being roughly $85K in debt. I recently moved from Hawaii to the mainland and brought my car with me. It is on lien with a Hawaiian credit union and I pay $400 monthly. I owe about $16000 on it but it is worth about $5500. That is, if it wasn’t trying to implode and give me half a dozen engine codes. Everything about the damn thing stresses me out. What if I simply stopped paying for it? What would happen? Is that technically illegal? Like, could I be taken to court? Or would the car just get repo’d and I wouldn’t have to worry about it anyway? This is probably a stupid question, I realize. I’ve never (intentionally) missed a bill in the past.

When you declare bankruptcy, include the car. Do not reaffirm the debt.

If you plan on going bankrupt just quit paying or just go bankrupt and include it in the filing.

Human: In short, I spent the last year in the "big city" living above my means. Now I'm back to earth and my goal is to save money. Should I prioritize my emergency fund or my retirement savings? Or should I just gradually add to each? I've been putting 10% of each paycheck into my 401(k) with 4% company match. I just opened an IRA and it only has $10 in it. I'm 26.

I'd say get your emergency fund sorted first, you'll need it first. I would figure out what you can save and put it all towards the fund, then once you hit your goal start on the retirement. As your life grows so should your emergency fund tho.

Get the match, then get your emergency fund up to snuff. Then get your Roth IRA funded (maybe traditional, but probably Roth).

Human: I got a call from my bank and the said I don't need to pay back what I've spent in the last billing period for another month and that they would increase my credit accordingly so I still have the full credit line available, I would only need to pay 0.5% of the credit, totaling 30$. The sales guy reasoned that this would increase my credit score at the bank and would it make easier to get a increase in the credit line once I really need it (Not in the USA). Does this make any sense? I mean, yes, they will have a record of me paying back that credit in time, but so will they have a record of me paying the credit card bill on time without that extra credit. For me that sounds more like they just want to earn some extra interest, or do I oversee something?

So you're agreeing to pay $30 for... what exactly? A higher credit line you shouldn't be using anyway since you're already in debt? Seems like an excuse to get you to pay more interest, which will continue even after the month without payment.

Dont go by what someone tells you. Go by what the statement tells you. If you usually pay the « statement balance », pay the statement balance.