Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts
1

25 right now, going to be 26. I have been working full-time for almost 3 years now and commuting from my parents house in the suburbs. I've chosen to live at home since working to build up savings ($27k in retirement accounts and $18k in savings). my job paid the following: first 6 months $35k, then $40k, now $50k at the start of this year. Rent near work or in area that provides a short commute will cost me at least $1500 for a room only (I'm in one of highest COLs in the US).

Did you see benefits moving closer to work? As in better opportunities for development or networking? My current commute is an hour and a half each way which doesn't allow me much in the evening. Out of the house by 5:30 AM back home by 6 PM.

I should also mention I'm trying to leave my job due to depression, but have had it hard in the job search, searching for more than a year now and i keep getting rejected.

1
comment
2

Hey /r/personalfinance

I'm a recent college graduate about to start a new job that pays $2,400 biweekly ($62,400 annually) with full benefits and a 401k. I'm currently about $7,000 ($4,300 at 23.74% and $2,500 with 0% APR for a year)in CC debt, $20,000 on a car loan, and $40,000 in student debt.

I'm also going to work part time at my current job (min wage) on the weekends to make some pocket change. My current course of action is to pay off the $4,300 ASAP, then focus on the car loan and student loans in preceding order. How should I allocate how much of my paycheck shall be towards CC debt, benefits, etc.

Many thanks and much help is appreciated!

2
1 comment
0

I've managed, over some years, to rake up about $9 grand in cc debt with PayPal credit. I used buying to quell my depression/anxiety, got addicted, and of course just feel worse now.

I'll get the "plusses" out of the way: - no car/house payments (live with parents due to health issues so I can barter services rather than pay $$$) - hopefully will be on an upward trend with job income (contractor gaining business) - started seeing a new psychiatrist/on new meds. Been in treatment most of my life, hopeful I'll find something that sticks.

The negatives: - I don't make much per month - about $200 right now. Was more until health got in the way. -have some other, much smaller cc debts just starting to build. The one is still interest free for about 6 months. No built interest until lately. Thankfully the others didn't continually throw more credit my way like PayPal.

I've been making minimum payments every month on PayPal. Thought that would give me a leg to stand on, but other things I'm reading indicate not.

How do I/can I get my life back together?
Do I call Paypal?

0
2 comments
2

Last year, I got a new AT&T fiber connection and the rep on the online chat said that I would get a lifetime price on my connection. I told them, it wasn't listed anywhere on the website or on my receipt so how would I prove it to you guys later? They replied, request a chat transcript after we're done and use that as proof of coverage for this offer. And so I did.

Fast forward to 12 mo's later and predictably, my monthly charge went up, so I called them. After being kicked around on the phone, waiting for 50+ mins on hold, I got on the chat again and gave them the Id number for the chat transcript from last year. Ten minutes later, boom, got my lifetime pricing back, and this time again, they said, if this happens next year, provide the transcript for this chat and it should be resolved quickly.

So, keep a paper trail, y'all!

2
1 comment
0

I have one credit card and I use it at the same stores and websites. Last weekend, I attended a concert and used the card a few times at the arena. That same day 2 mystery charges appeared and I disputed, card was cancelled. I have since received 2 packages from the disputed charges. I don't understand how someone got my name and address on top of credit card number. I thought people stole cc info and bought stuff for themself?

0
4 comments
3

My parents (mother and step father) are complete and utter failures when it comes to managing their finances. I have been a lurker on this sub for a while, and given them as much advice pertaining to personal finance as I have been able to, but I no longer know how to help them after learning the real horror that is their financial situation.

What I have done so far:

  • calculated and and averaged out their monthly income
  • added together all of their monthly expenses
  • advised them on a few cost cutting measures

Here is a breakdown of their monthly finances based upon the information they have given me:

  • Monthly take home between the two of them, after insurance etc= $3,150
  • Bills:
    • Rent=$650, Car= $450, Car insurance= $125, Cable= $150, Phones= $130, Electricity= $280, Propane (house in the country)= $500, Food (groceries only)= $170, Credit Card= $200, Gas= $400, Furniture financing= $230, Internet= $60
    • Total=$3,345

I saw that their monthly budget exceed their monthly income, and I have paid their early termination fee to cancel their cable. The rest of their finances are pretty much locked in. They owe more on the car than it is worth, so it is unsellable. They have a cheap prepaid phones, but the problem is that one of them has financed a phone costing them an additional $50 monthly (which they can't afford obviously). Their gas expenses are so high because my stepdad works an hour away in another city, and nobody lives close enough to carpool according to him. So I am not sure where else they can cut. They both have credit scores in the 400s.

And the worst part is, They owe the IRS $1300 from money they made getting bought out of a previous house, an MY MOTHER DID NOT PAY ANY TAXES ALL YEAR FROM HER CHECK AND HAS YET TO FILE. Any and all advice is helpful. I am trying to be tough on them, but I am in no way, shape, or form a financial expert myself.

3
9 comments
8

Posting this here because maybe I can help someone else NOT fall for this BS.

Going down the road today on my way home and I get a phone call; caller ID says its my bank, USAA. I answer and this nice young man and I had the following conversation:

THIEF: Mr Sumo, this is USAA's fraud department. Have you just attempted to make a $1000 purchase in a Target in Denver?

ME: Ummm... nope. I'm literally in Texas right this minute, so no.

THIEF: OK, sir, I'm going to quickly authenticate you with our system. You're going to be getting a text message from us with a PIN, I need for you to read that to me.

(I get a text message from USAA, my phone recognizes them from previous security checks, so I think I'm good, right? Nope.)

ME: I read the PIN

THIEF: OK, thank you.... hang on my computer is being slow....

We had a little more conversation but here's the gist of this: While he was calling me, his buddy in the next room was on the phone with the real USAA telling them that he needed the account PW reset. They, of course, sent a two-factor authentication PIN to my phone. I read that PIN off to my guy, who fed the other guy and BOOM, they were in. Clever girl.

Before I could pull over to handle this I had a flurry of emails from the bank in my mailbox:

  • Your account PW was changed.
  • Your account name was changed.
  • Your security questions were changed.
  • You added Joes Blower as a payee (the literal name they used!)
  • You transferred XYZ to Joes Blower (this one repeated for several attempts)

Understand that I work professionally with computers and am super skeptical about most things. I stay up to date on scams and security. My radar was up the entire time I was chatting with him and I STILL walked into it. From my POV this was the real deal.

The part that I missed, and the part I want to convey... Large companies like this will almost NEVER call and start asking you for info. What I SHOULD have done was this: As soon as he mentioned the Target transaction, I should have said thank-you and hung up, then looked up the number for USAA's fraud and called them. I thought this was them, I fell for it.

The credit union is already working on returning the cash. Because these guys didn't try transactions here in TX the bank shut things down pretty good and the thieves only got a few hundred. I'll get that back. But now I've got a shiney new login that I have to use and worries about what info they might have seen while in there. Yay! Plus, USAA is sending me one of their nice two-factor key fobs that would have stopped this.

Strangely enough I just read a few weeks ago that SMS PIN's were hackable. I thought the article meant that you could hack them electronically. I never expected a literal man-in-the-middle attack!!

8
3 comments
1

I recently inherited 24k from a moderately close relative. My parents are urging me to keep it invested (it is a mutual fund). My financial situation and thus my life have been rough for more than a year: my partner was in a serious car accident and couldn't work for six months so I was supporting both of us. While I used all of my savings supporting us, I luckily have only 2K overall in debt, credit card included. Our finances have just begun to stabilize (a year since the accident) but things are very frayed: we're both at rock bottom on savings, are making a combined 75k yearly, still paying off medical bills insurance diddnt cover: the settlement for medical expenses and lost wages is still in arbitration, and I need things like mental health care, car repairs, new clothes; several ongoing projects (personal and business) had to be put completely on hold. Liquidation would allow me to get out of the rut I currently inhabit at the potential cost of my retirement fund, one that I didn't even know I had until this month. What should I do?

1
2 comments
1

I feel like I’m a bit of a strange spot due to life occurrences and need some advice on how to continue to maximizing retirement savings.

I am 35 earning ~$138k (but only for the past 3 years) yet my 401k and rollover IRA is only worth $119k. I’m clearly behind by benchmarks but out of ideas how to grow my retirement within the ‘norm’.

Backstory: Previous company ended up making some mistakes in my relocation negotiations with my that ultimately cost me about $50k in combined YOY earnings-couldn’t sue so don’t suggest. (Promised salary increase never came, was signed on and reiterated that it was coming- for 4 years. ) I stayed with that company despite this, contributing little to my retirement. All considered, I shouldn’t have stayed that long but That ship sailed so no use in rehashing.

So it’s now 2018- I finally changed companies in Jan 2016 I have been maxing my 401k since then. Just started maxing my IRA as well but am still short in value for my age.

Not sure where/how to keep socking away pretax money bc all accounts will reach their max contribution by end of year but it still doesn’t get me to the benchmark minimums for my age

We don’t have an HSA Due to our benefits plan that better fits our family and we contribute $400/mo to each child’s 429 plan (my husband’s HTDO).

Also- Backdoor Roth for the Rollover IRA doesn’t seem like a good idea right now because it’s lower value than my 401k.

How can I accelerate retirement savings at this point?

1
10 comments
1

I’m 19 and am taking about 18 units in college. I work part time at least 2-4 days a week at a luxury retailer and am paid $12.75/hr. I turn 20 soon and then 21 next year and have never been to the other side of the country, so I want to take a trip to New York.

I have a savings account that I add to with every paycheck but I have gotten backtracked from school starting again and having to pay for expensive books out of pocket, so I have been using the money towards school. I also cannot drive yet, (I grew up with extremely strict parents who say they won’t teach me/practice with me until I get experience), so I have to use about $250+ towards driving lessons as the area of CA I live in has limited public transportation.

How should I go about budgeting for New York? If I worked say, 17+ hours a week every week and got a biweekly paycheck, how much should I save from each paycheck to still be able to have spending money/money for expenses and have sufficient money for my trip? Is there a way I can put the vacation money somewhere seperate without having to open another bank account?

1
3 comments
1

I'm 20 years old working full time living in a very expensive city. My paychecks average $800 every two weeks. My rent is $600, utilities are about $150. I just moved into a new place and am sleeping on an air mattress. I need to buy a bed, which I can get for around $350. I'm also in need of transportation, I'd like to get a car but I need to get my license first so I'll probably get a bike. I'm going to be applying for food stamps next week which will give me $200 a month for food, which is plenty. How can I be smart with my money?

1
2 comments
1

I went to my local dealership with a Pre Approval from NFCU looking to get pricing to see if they could get close to the Pre Approval after everything. I even went through the process of getting my truck appraised for trade in value.

When we talked about financing, I made sure to say we had an amazing Pre Approval that they could not beat and to not do their financing.

Just checked my Credit Karma 2 weeks later and there is a Hard Inquiry on there from them.

Can they do that? If not, can I fight to get it removed and how?

Thanks in advance.

1
7 comments
2

Hello r/personalfinace, please help me.

I've been saving aggressively since I graduated and started working in june to pay down my student loans. ( Job pays $60k potential excluding bonus and I owe 14k). I'm more than half way towards my goal of saving $7000 by the end of the year. I also expect a $3000 tax refund, so by early next year, I should have made a huge dent on my loans.

Problem is, I don't have a car and I really, really want one now. Here are my options,

I could stay focused on my goal and continue taking the bus for 45mins to and fro, and suffer through the cold winter weather and slight embarrassment of being the only one in the office who takes the bus to work.

Or,

I could use my 5k savings to buy a used car (2005-2007 Camry or Honda) and start saving all over again.

Or,

I could buy a REALLY cheap beater car (1000-2000k range) with my saving and sell/trade it after my debt is payed off.

I absolutely do not want to finance the car. Please don't suggest it 😀. No more debt for me ever again.

What should I do?

2
12 comments
7

I had one of the best interviews ever, it was with a company that has been around, the position was inline with my profession, lots of growth potential, we were clicking, was confident I'd be a great fit, and the salary and benefits were worked out. It's important to note that the salary was negotiated to be reduced to less than I make now for 90 days while I get some great training and then my full salary would kick in if I stayed. On my way out of the interview I said something to the effect of "I look forward to seeing the offer and I'll let you know". The interviewer broke eye contact, gave a odd smile, snickered, and said, "No you have to take our word". At first I though he was being sarcastic and laughed; he was serious.

I left it at that to think about some more and called back that night to clarify some of the benefits and to ask again. I was met with the same uncomfortable snicker and told that their reasoning was so that I wouldn't take the offer to my current boss to request a raise. Confused by this minor barrier, I called some other respectable professionals that night that knew or had worked for this company before and was unequivocaly told, "stay away from them, they trap people". My gut feeling had always been that they would not follow though on the salary bump, I'd be trapped at too low of a salary, and I knew that I would never be able to get my current job back once I left.

So the next day I tested the water more and asked for my full pay up front, none of this 90 day BS, and that I need to see my benefits written out. They gave a firm "NO" and would not budge on anything. They rambled on a little about us both taking risks, that they trust me, and that I should trust them (It's only been 24 hours with these guys and they want trust!). I wasn't buying it since my mental risk assessment told me that I was taking the bulk of the risk and would have no leverage after I join the company. I finished the conversation by saying "I decline because I don't feel secure agreeing to this reduced salary if something so simple as an offer letter can't be drafted, and that I would expect that they wouldn't operate without written contracts as well.

So what are all the other ways they could have screwed me over that I may not have thought of?

7
13 comments
2

I got an email from Credit Karma a few days ago that said my credit score had dropped. Upon logging in, I found that my credit had dropped over 70 points without reason. Under the “changes” tab it says that my credit usage has decreased, which should improve my credit score if I understand correctly (I paid off one full credit card and am paying down another). I looked on every other possible avenue and it has dropped across the board. I looked into the identity protection section and it said I have been part of 4 breaches. Would someone applying for a credit card or anything of that nature under my identity show up as something I can physically see in the changes section of my credit? Who do I contact to figure out why my credit dropped so much without any concrete reason?

2
2 comments
2

I work for a small company of 10 people total. I occasionally do deliveries in the company vehicle. I was given a company credit card with my name on it. Does this have any impact on my credit at all?

2
4 comments
1

My Wife's mother and grandmother co-own a house, each with a 50% share. They all in the interest of future issues would like to change the deed to 50% Mother and 50% daughter(my wife). When we file for this would there be a gift tax on the transfer aside from the filing fees?

1
2 comments
1

So I’m currently about 180 days delinquent on my credit cards and I’m currently trying to settle my accounts. Some of my creditors and debt collectors have mentioned to me that I’m closed to my account being charged off and I should try and avoid it.

Can anyone advise me on exactly what a charge off is and if there is any negative or positive impact on me if I were to let the charge off happen?

If I were to wait and let an account charge off would that make it easier for me to settle that debt with that creditor for a lesser amount?

1
1 comment
1

Hello everyone,

So my dad came with me to the bank my freshmen year of college and opened up a credit card under my name. I eventually stopped using it, but all my debt was paid. last year, I found out that apparently someone bought a car with my credit card. I never lost the card. I also don't have a car, and I have the card on me. I'm seriously confused and very very upset. Apparently there weren't any payments paid on the car and obviously this tanked my credit score. I've been trying to find help on the internet and obviously don't know where to go. What should I do in this particular instance?

I figured I would start here.
My dad kinda just left me to figure this problem on my own, but honestly it doesn't help. In all honesty I don't know anything about credit cards, I would just work and the money would go to my debit card.

~Hopefully someone can help me out.

~Thank you :)

1
4 comments
1

I was just doing some online banking and noticed that U.S. Bank has something called "Automated Investor." Does anyone have any experience with it?

These are some of the bullet points

  • Low 0.50% annual advisory fee, billed quarterly (Only $50/year on every $10,000, billed $12.50/quarter)
  • No commission or transaction fees on trades
  • Low-cost Exchange Traded Fund (ETF)1 portfolios
  • Tax-efficient strategies and dividend reinvesting
  • Start with just a $10,000 minimum investment. Try it free for 3 months.2
1
4 comments
1

As the title said guys, I'm 21 and I got myself into a massive pile of debt with a Harley Davidson. In Feburary, I managed to get one for around 16k, It was a 2016, with 500 miles, I didn't realize how much I got ripped off at the time, and also this is at a 16.35% interest rate, which I found out is absurdly high. My payments were about $375 a month. And then August rolled around... and I still had 15k owed on the bike and found out the bike was worth like only 7k

Early last month I went back to the dealership, I was thinking maybe I can try and balance this out, where I wouldn't be underwater. Maybe get a new bike, that holds it's worth a lot more than my 2016. And stupid me, that's exactly what I did.

I dug myself in this hole where I now have this 2018 FXLR Lowrider and I owe almost 19k on it. I didn't realize that the excess money that I didn't pay off on my first bike would roll over onto my new bike. I'm willing to not even have transportation anymore, I just want to figure out what's the smartest way to get out of this situation. I don't want to be into my late 20's barely surviving because of the $400 payments I have on my bike, plus the 120 for insurance!

I only work 20 hours a week as an assistant manager making $10 an hour, and I commute pretty far to school and all spare money I have goes to gas money to make it to school. Meaning, I can't pay any extra than the minimum payment as it's just about $400.

I feel like I'm straight up fucked, I feel pretty powerless. I just thought maybe I should get someone else's opinion, maybe there's hope or maybe not?

1
9 comments
0

I have been in the big boy world with my first "career" type job (29 years old) for almost three years and making some good dough. Out of excitement I have always been open with my parents when I get a raise or a bonus. They laugh and get excited for me and we all move on. I want to tell them because I want them to be proud of me but also because I tell them everything. I have very few times mentioned my raises to my sister who I am also close to, but both times I regretted it because she and her husband make much less than my husband and me. I never tell ANYONE else; maybe I would only tell a close friend IF they asked. Is that a bragging type thing to do even with your parents? Or your sister?

0
10 comments
3

Not sure if there’s anything that I can do, but looking for advice on potential ways to get these guys. Received a call on my cell phone from a blocked number. I didn’t answer. Message gave the standard “this is a process server and we’ve tried serving you at xxx (listed my address) next we will be going to xxx (listed my work address) then gave me a number to call back with a case number. I ignored it, because I know how these work. An hour later, I get a call from our HR manager. He said that our director of employee relations received a call from this same person saying that they needed to serve me and to see if I could be served at work.

At this point I get a little nervous. I’ve never had a scammer actually call my employer. I call them back later, they say they don’t know the person who called me, but he is with xxx named a law firm and gave me his number. He said he was a paralegal with the firm and the person who called me must have been the server. He said I was being sued for defaulting on a credit card in 2015 for $2,500. He named a credit card I think I may have had many many years ago, which would be past any type of statue of limitations and definitely never had a credit limit high enough for me to default that much. Also, my credit report is clean and we got a mortgage in 2016 so I’m pretty sure I couldn’t have done that if I defaulted in 2015. I told him all of this. He agrees that my credit was great and started reading off who had my mortgage and who we originally got it from. Basically reading info from my credit report I guess. I told him he needed to give me the account number he said that I was in default for. He started talking over me and reading addresses and things from my report. I repeated myself and he got pretty angry and raised his voice. I continued asking for the account number and he finally said that they would just serve me and good luck, so I hung up.

I usually ignore these types of calls, but they called my freaking employer. A place I’ve worked 8 years and worked very hard to develop a strong, professional reputation. I’m sure they used a spoofed number and gave a fake name but I can’t let them get Away with this. Is there anything that can be done? Or any advice for someone in my situation?

3
9 comments
1

I've got a somewhat unique set of circumstances and I was wondering if perhaps something other than a traditional 30 year fixed might be good for me.

I've got a wife and two young kids, baby and toddler. My wife and I both work...but my wife wants to take a few years off to be with the kids. We're also looking for a bigger home. She'd likely go back to work once they start school. As for me, I make pretty good money now and am in line for a sizable promotion in 3-5 years.

As we move into a new home, there may be a short term money crunch as I support a family on one salary. But eventually I'm very likely to be promoted and my wife will go back to work. I also refuse to move twice. This next home purchase will be the one I raise my family in. We have more than enough to put down 20%.

Tl dr: looking to upgrade home, money may be tight for first 5-7 years, will then likely have significant family salary increase. Are there certain mortgages that may be advantageous?

1
2 comments
18

I only found this out tonight (conveniently, after Florida Blue/BCBS closed for the week). I seriously don't know what to do with how much of a clusterfuck BCBS has made. Here's the story with a TLDR at the bottom.

Earlier in the year I had my plan terminated. My market place coverage had changed and BCBS cancelled my auto-pay. I've had the same account with BCBS for 4 years and this is the first time this has happened.

I called them on the August 24th. They told me I had an outstanding debt of +$1000. They couldn't give me an invoice for the amount or an itemized breakdown. After a 1.5 hour conference call between BCBS and the market place, both BCBS and the market place admitted it was an issue between them and was not my fault (but, I still had no insurance). BCBS tells me to call back next week as they try and reopen my account.

I call monday and was told that BCBS had done a "complete rebill" and that I only owed my normal amount. I make the payment for the remainder of August. I had the receptionist confirm multiple times that I did not owe the $1000+ that had popped up before and that my account was active again.

Fast forward to September 13th. I call and make my monthly payment over the phone as my online account was not functioning. I paid the normal amount and presumed my account was active (they accepted the payment, gave a confirmation number, etc). Was told again that I didn't owe the $1000+ and that I needed to create a new account (even though I had the same plan number as before... whatever).

Fast forward to around 30 minutes ago. I get a text from my pharmacy that I owe $75 instead of the normal $10. Log into my BCBS account and find that I actually had two bills for September: one for my normal amount and one for the +$1000 from before. AND I have a message from BCBS dated the 7th noting that they have terminated my account after giving "several reminders" and not receiving the monthly payment for, presumably, that month and that my account had been terminated as of mid June!.

I made a payment, which was accepted, to an account which has been terminated prior to that payment without giving me notice beforehand. I called the market place tonight and was basically just told to take it up with BCBS. I just don't even know what to do anymore. Do I contact the regulatory board in Florida? The news? As it stands now, I've had my account cancelled twice through, from their own words, no fault of my own. I now have $180 (normally ~$18) of prescriptions to pick up and no insurance.

TLDR: Had my account terminated TWICE this year, even after they admitted it was a fault on their end. The second time, they cancelled my account without giving notice. Not sure what to even do.

18
7 comments
Community Details

13.2m

Subscribers

12.0k

Online

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Create Post
r/personalfinance Rules
1.
R1. Submission guidelines
2.
R2. Self-promotional advertising or soliciting
3.
R3. Unhelpful or disrespectful
4.
R4. Asking for handouts
5.
R5. Legal discussion
6.
R6. Politicizing
7.
R7. Lawbreaking information
8.
R8. Personal attack or abusive language
9.
R9. Relationship or personal advice discussion
10.
R10. Other bad behavior
Cookies help us deliver our Services. By using our Services or clicking I agree, you agree to our use of cookies. Learn More.