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User (Money_Burner): "My old job's 401k plan cashed out my account and sent me a check with state and federal tax taken out. I called them and they said that they did this because it had under $1000 (wasn't there long), they said that they tried notifying me by mail (I moved, not sure I got any notifications), and that there was nothing they could do as the taxes had already been paid. \n\nIs there anything I can do here? I wanted to roll it over into my new job's plan but now i'm out a few hundred dollars and possibly more from penalties on cashing out the plan early.\n\nAny help or advice would be greatly appreciated.\n" Self: "They did everything legit. I would probably give up and move on. It can't be easy to stuff this genie back in the bottle."
User (Money_Burner): "My old job's 401k plan cashed out my account and sent me a check with state and federal tax taken out. I called them and they said that they did this because it had under $1000 (wasn't there long), they said that they tried notifying me by mail (I moved, not sure I got any notifications), and that there was nothing they could do as the taxes had already been paid. \n\nIs there anything I can do here? I wanted to roll it over into my new job's plan but now i'm out a few hundred dollars and possibly more from penalties on cashing out the plan early.\n\nAny help or advice would be greatly appreciated.\n" Self: "You still have time. 60 days from the date you received the check, but don't wait, act now. Open an IRA and deposit your check there. Vanguard is a good choice to open an IRA. You will also need to cover the taxes that were taken out by your employer. Sucks, but do your best. I assume the check you received also came with a statement detailing exactly how much was removed from your 401K, make sure you put at least that amount in your IRA. If you're short, then that will count as an early withdrawal and you will have to pay taxes and penalty on that portion." User (Money_Burner): "Thanks, I already have an IRA and a 401k with my new job. Can I just stick it in one of those?"
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: "Principle and interest are guaranteed by the federal government, so the lender has no incentive to negotiate on those. If you don't pay them, the federal government will. They have zero-risk of loss on principle and interest. If there are collection fees or other fees that aren't interest included in the $200k, there is some potential on that.\n\nYou don't give too many details, but I'd talk to a lawyer before talking to the lender about paying them. Depending upon the situation, a lawyer may be able to identify a legal way to have the loans fully or partially forgiven. Absent that, he'll be able to advise you on the actions you've taken to protect your wife from garnishments and whether it will work as you intend or not."
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: "I have a bigger question. What if you die? How would your spouse survive if nothing is in her name and wont inherit anything?" User (navientletsmakeadeal): "As /u/AlwaysABride correctly pointed out, I should speak with an attorney to verify all assumptions, but my assumption is that as their legal guardian, she would also have access to any funds inherited by my infant and toddler sons. House and cars are paid off.\n\nedit: Also I'm going to try really hard not to die, because life :)"
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: "I know you say you don't want to, but re-hab the loan (or consolidate it out of default), apply for IBR/PAYE and let it sit making $0/mo payments until it's discharged.\n\nThey don't negotiate Federal loans in collections." User (navientletsmakeadeal): "Thank you. I'm not opposed to going this route if it makes the most sense, I honestly just didn't want to field a lot of recommendations from people on income sources to be able to pay the loans and questions about why she doesn't get a job and find cheap day care for the kids, etc."
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: "Does your wife plan on being a SAHM until the kids are 18 or would she be planning on going back to work when they are both in school?"
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: "Wife needs to find a job with a non-profit that participates in the student loan forgiveness program. Depending on where she works, and if she makes all "income based" payments on time during that period, the balance of the loan will be forgiven at the end of that five or ten year period. So in five or ten years she'd be free!\n\nedit: OP needs to make sure that this is doable for wife if she's already behind / in default on her student loans. This program may be limited to those current on loans when they start it."
User (navientletsmakeadeal): "Hi all,\n\nMy wife is currently in default on nearly $200k in federal student loans. It's a long and complicated story, and although I know this will likely bring about all kinds of suggestions on how she can get a part-time job and work toward getting out of default and into income-based repayment, please refrain. We've been there and tried that (she was flat-out lied to by Sallie Mae about process and deadlines) and for a variety of reasons that's just not going to happen now and we've come to terms with that. She is currently in her early 40s, has zero income, and is a stay-at-home mother of two young children.\n\nShe incurred these debts long before we met, and I have spent the past eight years or so further disentangling our finances. Our cars and house are in my name alone, as are all of the major financial accounts. My life insurance policy names our sons as the beneficiaries. We still file our taxes jointly, but if there is any tax return due, I file an injured spouse form to prevent it from being garnished. We are essentially poised to be able to ride out the remainder of our lives with her having zero financial net worth in her own name, and not a cent that can be taken from her.\n\nParticularly for somebody who is otherwise extremely budget-conscious and responsible with everything she does in life, although she has ostensibly come to terms with this, it's certainly not ideal for the ol' self-esteem. Although she has told me not to even think about spending my money to pay down her loans, I'm in a position now where I may be able to, and I am seriously considering the positive impact that it may have on her mental health and quality of life as we age.\n\nMy question is this: at this point, a massive chunk of the debt is accrued interest. Like 40% of the total owed massive. Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off of say, just the principal owed? Or even less? Would they likely respond to a "well, you can get $100K right now to wipe this debt clean, or likely $0 ever" ? Is there precedent for something like this? I'd rather not even bother getting on their radar for harassing phonecalls in the future if there's zero chance of such a deal being made.\n\nAs always, thanks in advance for your insight, pf." Self: ">Is there any point in me attempting to contact the collections agency and trying to explain the situation and negotiate a lump sum pay-off?\n\nNo."
User (TeamXboxthrowaway): "Hello, made a throw away account just for this post. Houston, Texas.\nI(20M) am seeking for help in moving out of my parents house, I would like for advice to see if I can afford living by my self.\n Not looking to move to the nicest area in town either just a pretty decent neighborhood, I would want to pay ~500-600 a month for an apartment. \n Trying to see if it is affordable to me. I generally make ~1900-2,100 a month. \n\nHere are my expenses:\n\n* Car note: $335\n* Insurance: $200\n* Cell phone: $120\n* Best Buy credit card:$230 a month / 18 months no interest. About 1400 left on the card.\n* Gas: ~$25 each week \n\n\nFirst time posting in PF, so don't know what else to include. Thanks in advance!" Self: "1900-2100 before or after tax?\n\nTotal expense above is 985 per month (assuming 4 week months) so you'll have 915-1115 leftover assuming after tax.\n\nHow much is left on your Best Buy credit card balance? Grocery budget? Emergency fund? I would pay off that Best Buy asap to free up 230 on your monthly budget before moving out though.\n " User (TeamXboxthrowaway): "After taxes! my bad forgot to add that. \nI have about 1400 left on the best buy card.\n"
User (TeamXboxthrowaway): "Hello, made a throw away account just for this post. Houston, Texas.\nI(20M) am seeking for help in moving out of my parents house, I would like for advice to see if I can afford living by my self.\n Not looking to move to the nicest area in town either just a pretty decent neighborhood, I would want to pay ~500-600 a month for an apartment. \n Trying to see if it is affordable to me. I generally make ~1900-2,100 a month. \n\nHere are my expenses:\n\n* Car note: $335\n* Insurance: $200\n* Cell phone: $120\n* Best Buy credit card:$230 a month / 18 months no interest. About 1400 left on the card.\n* Gas: ~$25 each week \n\n\nFirst time posting in PF, so don't know what else to include. Thanks in advance!" Self: "Where you live makes a big difference here... Are you US? Cananda? City? Rural?\n\nYou need to get some finances under control before thinking of spending that much more money. Half your income goes towards bills, and most of what's left over will go to rent. While some people consider that OK, I think it is a surefire way of living a paycheck to paycheck lifestyle. In other words, it sucks. \n\nIt is a must that you budget for savings and give yourself more room when it comes to daily expenses. If you don't, you will put those expenses on credit card hoping to catch up, but you won't. I know because I tried that, and went from zero CC to about $15,000 over the course of a couple years.\n\nBefore you move out, I'd recommend you PAY OFF that credit card from Best Buy ($230 x 18 months = $4,100+) and start shopping around for a better cell plan (I pay $40/m). Call your insurance carrier and find out what you can do to minimize your payment. Once you've learned to budget your income and put money towards savings, then start looking for a place. " User (TeamXboxthrowaway): "Yea im in Houston, Texas. sorry forgot to add that also. \nI only owe about 1400 left on the best buy credit card.\nThanks a lot for the advice! "
User (TeamXboxthrowaway): "Hello, made a throw away account just for this post. Houston, Texas.\nI(20M) am seeking for help in moving out of my parents house, I would like for advice to see if I can afford living by my self.\n Not looking to move to the nicest area in town either just a pretty decent neighborhood, I would want to pay ~500-600 a month for an apartment. \n Trying to see if it is affordable to me. I generally make ~1900-2,100 a month. \n\nHere are my expenses:\n\n* Car note: $335\n* Insurance: $200\n* Cell phone: $120\n* Best Buy credit card:$230 a month / 18 months no interest. About 1400 left on the card.\n* Gas: ~$25 each week \n\n\nFirst time posting in PF, so don't know what else to include. Thanks in advance!" Self: "Are there apts at that price point in your area?" User (TeamXboxthrowaway): "Yea for a one bedroom apartment. That's all I would need since it's just me. " Self: "You're missing a lot of expenses like utilities etc. but I think you should be ok if rent is that cheap. "
User (TeamXboxthrowaway): "Hello, made a throw away account just for this post. Houston, Texas.\nI(20M) am seeking for help in moving out of my parents house, I would like for advice to see if I can afford living by my self.\n Not looking to move to the nicest area in town either just a pretty decent neighborhood, I would want to pay ~500-600 a month for an apartment. \n Trying to see if it is affordable to me. I generally make ~1900-2,100 a month. \n\nHere are my expenses:\n\n* Car note: $335\n* Insurance: $200\n* Cell phone: $120\n* Best Buy credit card:$230 a month / 18 months no interest. About 1400 left on the card.\n* Gas: ~$25 each week \n\n\nFirst time posting in PF, so don't know what else to include. Thanks in advance!" Self: "The rent you're looking at is more than reasonable for your income, but your current expenses are really high. What's the interest rate on your car? I would say you absolutely need to pay off the best buy card before moving, and the car loan if it's possible. Also, do you have an emergency fund? I would say a decent budget might look like this:\n\n1900 take home pay\n\n500 rent\n\n200 utilities (internet, tv, electricity, heating, whatever)\n\n200 insurance\n\n60 cell phone\n\n300 groceries & household items\n\n200 entertainment, eating out, miscellaneous spending\n\n200 savings for irregular expenses like car maintenance, Christmas/birthday gifts, etc\n\n240 long term savings\n\nNotice how the car loan and the best buy card don't fit in there at all? Which category would you be willing to cut back on in order to pay for those?" User (TeamXboxthrowaway): "Yea I was thinking of waiting until I pay off the best buy card off.\nI would cut back on the entertainment and on the long term savings. \nI think the 300 on the groceries is a bit high. \n\n"
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "What about small local grocery stores? Might get you started in the right direction."
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "how many places have you applied? keep trying. dress nice." User (Skittlenips): "6 places, I haven't even gotten an interview. \n\nWalmart, Best Buy, Target, Verizon, Sprint, And Home Depot " Self: "call them to follow up on the application (if you haven't already)" User (Skittlenips): "Will do, I'm on my way home now. Thanks for the advice! "
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "One helpful tip for any job is to dress for the job you want, not the job you have. Besides that carry yourself with confidence and market your skills to the employer, and don't be afraid to give an area you are working on or how work can help you achieve personal goals. "
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "My advice is to aim a little higher, go apply to bars and restaurants, start as a bus boy or barback, the tips will be nominally better than retails standard min wage, especially in Vegas where it is a hospitality economy, plus it's more fun than standing around stocking shelves/folding clothes and gives you time to go to school during the day. "
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "Honestly a lot of times getting in to retail is who you know. Do you have any friends who are working retail? Or relatives of friends? Or acquaintances? " User (Skittlenips): "I have a friend who works at a Target in Arizona, and a couple of my friends at McDonald's have another job that's retail. " Bluepass11 (Bluepass11): "Tell the McDonald friends to put in a good word for you. I doubt the Arizona friend will be of much help" Self: "Pretty much this. Ask them to put in a good word for you or to ask around to their friends."
User (Skittlenips): "I'm tired of working my job at McDonald's and food in general. I want to switch to retail but I have been declined at every place I applied to, any advice? " Self: "Have you tried any drug stores? Get 6 months in CVS or Walgreens and then start applying at the places you'd prefer." User (Skittlenips): "I haven't, do you have to be 21 to work in a drugstore? I live in Las Vegas if that helps. " Self: "Only to sell the alcohol, as far as I know." ohwut (ohwut): "Most places that are licensed to sell/serve allow the employees to be 18 as long as they're properly licensed. Of course that varies by area. "
User (Sadgirlssclub): "I did a credit check on the Mint app and it says there's 15 credit accounts in my name, 2 open, 13 closed. I can think of 3. One is a closed credit card account, one is a student loan and one is a car loan. There might be another student loan (I let my parents take care of it), but certainly there can be so many. Neither of my parents knows what they are. \n\nMint doesn't show me what the accounts are. Is there a way to check?" Self: "You may find these links helpful:\n\n- /r/mintuit: a subreddit all about Mint\n- [Budgeting wiki page](http://www.reddit.com/r/personalfinance/wiki/budgeting)\n\nI 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."
User (Sadgirlssclub): "I did a credit check on the Mint app and it says there's 15 credit accounts in my name, 2 open, 13 closed. I can think of 3. One is a closed credit card account, one is a student loan and one is a car loan. There might be another student loan (I let my parents take care of it), but certainly there can be so many. Neither of my parents knows what they are. \n\nMint doesn't show me what the accounts are. Is there a way to check?" Self: "You can get your credit reports for free from annualcreditreport.com or use creditkarma.com to look at the lines of credit as well."
User (mugatu18): "I'm 22 and started my first post grad job this past May. I'm currently putting 6% of my income (employer matches 50% of 6%) into my 401k. I have also been putting money into an IRA. My IRA is a vanguard target retirement 2050, and I just found out my 401k is going into a vanguard retirement 2060. My question is whether I should start putting my IRA money into a different type to get more diversification, or if it is ok where it is? Other info: I have no debt and have an emergency fund already built up. Lastly, I'm hoping to buy a house in a few years. Where should I be putting money to save for a down payment? And if I'm saving 20% is it ok to have the house down payment savings be part of the 20%, or should I do 20% for retirement plus the down payment savings? Thanks for the help!" Self: "You may find these links helpful:\n\n- [401(k) Fund Selection Guide](http://www.reddit.com/r/personalfinance/wiki/401k_funds)\n- [401(k) FAQs](http://www.reddit.com/r/personalfinance/wiki/401k)\n- ["How to handle $"](http://www.reddit.com/r/personalfinance/wiki/commontopics)\n\nI 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."
User (mugatu18): "I'm 22 and started my first post grad job this past May. I'm currently putting 6% of my income (employer matches 50% of 6%) into my 401k. I have also been putting money into an IRA. My IRA is a vanguard target retirement 2050, and I just found out my 401k is going into a vanguard retirement 2060. My question is whether I should start putting my IRA money into a different type to get more diversification, or if it is ok where it is? Other info: I have no debt and have an emergency fund already built up. Lastly, I'm hoping to buy a house in a few years. Where should I be putting money to save for a down payment? And if I'm saving 20% is it ok to have the house down payment savings be part of the 20%, or should I do 20% for retirement plus the down payment savings? Thanks for the help!" Self: "If you're going to buy in less than 5 years, I would go with a high interest savings account or CD and not invest the money. If you can afford to save 20% for retirement AND still save for a down payment, then why wouldn't you?\n\nI was aggressively funding both an IRA and employer retirement plan for several years, and I got to the point where too much of my portfolio was tied-up in accounts that I can't touch until I'm 60. So... it's not always bad to have piles of money laying around that aren't tied-up in retirement accounts.\n\nYou are in great shape for your age. You will soon learn how boring it actually is to be financially secure, lol.\n\n" User (mugatu18): "Thank you!"
User (mugatu18): "I'm 22 and started my first post grad job this past May. I'm currently putting 6% of my income (employer matches 50% of 6%) into my 401k. I have also been putting money into an IRA. My IRA is a vanguard target retirement 2050, and I just found out my 401k is going into a vanguard retirement 2060. My question is whether I should start putting my IRA money into a different type to get more diversification, or if it is ok where it is? Other info: I have no debt and have an emergency fund already built up. Lastly, I'm hoping to buy a house in a few years. Where should I be putting money to save for a down payment? And if I'm saving 20% is it ok to have the house down payment savings be part of the 20%, or should I do 20% for retirement plus the down payment savings? Thanks for the help!" Self: "The purpose of a target date fund is that it's already diversified. The later the date, the more aggressive the investment and the balance changes as that date gets closer to reduce risk closer to retirement. Sticking with target date fund is an easy and inexpensive way to invest long-term. \nFor the down payment savings, it really depends on how long until you plan to purchase. Less than a couple of years, use a high interest savings account. Longer than that and you can think about higher yield, low risk investments." User (mugatu18): "Thanks! "
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "You may find these links helpful:\n\n- [Student Loans wiki page](http://www.reddit.com/r/personalfinance/wiki/studentloans)\n- ["How to handle $"](http://www.reddit.com/r/personalfinance/wiki/commontopics)\n- [What's the best way to pay down my debt?](http://www.reddit.com/r/personalfinance/wiki/debt#wiki_what.27s_the_best_way_to_pay_down_my_debt.3F)\n\nI 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."
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Look into student loan forgiveness programs. I am currently in one myself because I also went to a school that closed down." User (bubbalv29): "Everything that I've read mentions attending the school when it closed. I graduated in 2014, so I don't think I'll qualify for loan forgiveness. " Self: "Doesn't hurt to look into it. One of my coworkers got loan forgiveness as well but his school is still alive. Call someone about it."
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "The loan will be sold to someone else -- it's an asset. There's no real way, outside of forgiveness, you'll get off not paying.\n\nSTOPPING payment will come back and bite you in the ass."
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "I'm curious as to your overall thoughts on how attending ITT Tech impacted you. Was it worth the effort and time? How did it turn out for you now? Employed? Happy? Etc " Self: "Iknow it's off topic - was just genuinely curious. Don't know anyone personally who attended there. " eggsbachs (eggsbachs): "I went for web development years ago. My branch had a couple of good professors but a lot of bad ones. The information I learned at school was outdated and learned a large percentage of relevant skills after graduation on my own. \n\nI'm still paying this off and sore about it. I graduated in 2005 so I really doubt I'd be relieved of anything. "
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Who provided you with the loan in the first place? Was the loan sold? Everything I have seen on the matter was that individuals who took out Federal Student Loans to go to ITT and were still going to ITT when they shuttered would get forgiveness. But those who graduated or got private loans would get no relief.\n\n" User (bubbalv29): "I know I'm obligated to continue paying the federal loans. \n\nThe loan that I pay through UAS as far as I can tell is owned by ITT Tech. \n\nEdit: the site says that if I pay by check, the check should be made out to ITT Technical Institute. "
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "I'm curious as to your overall thoughts on how attending ITT Tech impacted you. Was it worth the effort and time? How did it turn out for you now? Employed? Happy? Etc " User (bubbalv29): "I feel like I learned and retained nothing. The professors were mostly garbage, and we had several classes that the professor just stopped coming to and we got a new professor part way though. \n\nIt was all about passing, not learning. "
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Any update on this? I'm in the same situation and can't find a straight answer anywhere. I understand still having to pay my federal loans after ITT closed, but it makes no sense why I should keep giving money to a company that is closed down for the loans that came straight from them and get paid through uasecho." juvily (juvily): "I thought I'd reply, since this comment is recent.\n\nI just logged into my UAS account and saw that my loans no longer exist. No matter what tab I choose, I see: "No loans exist" "No recent statements exist" etc. But history of payments & documents showing my next payment & consolidated statements are still there.\n\nI have absolutely no idea why it disappeared, or what exactly happened. And if this hasn't happened to you, or any others with private loans from ITT/UAS, then it must mean something bad regarding my account. But until I receive an answer - either from online or calling UAS/whoever - I will assume this means someone realized the ridiculousness of paying a closed down school.. Maybe? (Worst case, my loans transferred to another loan servicer :( )\n\nEdit: After a half hour of searching, this might hopefully provide some insight to both of our questions: http://omnimgt.com/cmsvol2/pub_47137/629465_1671.pdf -not 100% it has answers, though.\n\n[main case page](http://omnimgt.com/sblite/templates/a/documentslist.aspx?clientid=CsgAAncz%2b6bAf6oH%2bI6gRn%2fvOxwphVOK809dD0XHBsv0W%2bqmIARosLWVKJHq3V9bkFpVnDSeXxw%3d&tagid=919)" Self: "Thank you so much!! I also don't see any loans in my UAS account now, and that document clearly states we are no longer obligated to pay them. This is amazing news"
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Any update on this? I'm in the same situation and can't find a straight answer anywhere. I understand still having to pay my federal loans after ITT closed, but it makes no sense why I should keep giving money to a company that is closed down for the loans that came straight from them and get paid through uasecho." juvily (juvily): "I thought I'd reply, since this comment is recent.\n\nI just logged into my UAS account and saw that my loans no longer exist. No matter what tab I choose, I see: "No loans exist" "No recent statements exist" etc. But history of payments & documents showing my next payment & consolidated statements are still there.\n\nI have absolutely no idea why it disappeared, or what exactly happened. And if this hasn't happened to you, or any others with private loans from ITT/UAS, then it must mean something bad regarding my account. But until I receive an answer - either from online or calling UAS/whoever - I will assume this means someone realized the ridiculousness of paying a closed down school.. Maybe? (Worst case, my loans transferred to another loan servicer :( )\n\nEdit: After a half hour of searching, this might hopefully provide some insight to both of our questions: http://omnimgt.com/cmsvol2/pub_47137/629465_1671.pdf -not 100% it has answers, though.\n\n[main case page](http://omnimgt.com/sblite/templates/a/documentslist.aspx?clientid=CsgAAncz%2b6bAf6oH%2bI6gRn%2fvOxwphVOK809dD0XHBsv0W%2bqmIARosLWVKJHq3V9bkFpVnDSeXxw%3d&tagid=919)" User (bubbalv29): "I've logged into my UAS account and am being greated with a message that says I have access to no loans. Here's hoping for the best!" juvily (juvily): "After reading those sites and now your comment, this is giving me hope that this will become one less financial stress to worry about! \n\nI only wish something like this could be done on federal loans, even taking back a small portion would help. At least for those who still haven't earned a decently-paying job from their ITT degree... " User (bubbalv29): "Have you tried applying for income based repayment? I'm working a job that'll basically pay my living expenses, about 21k a year, and my payments are only 10 dollars a month on my federal loans. I know that I'm basically just paying some of the interest, but after a set amount of payments, I believe you qualify for foregiveness. I've pretty much accepted that I may be paying 10 dollars a month on these loans for the rest of my life, and I couldn't care less anymore. It's not messing up my credit, and it's a measly amount." juvily (juvily): "Yes, I'm actually enrolled in that payment as well! In fact, kind of in the same boat as you: earning ~21k (for now, hopefully) and have an auto-pay set to $10/mo. Unfortunately, I'll either receive forgiveness much later in life or none at all because I'm not employed at a place considered eligible for forgiveness. So I'm right there with you on paying these loans for life.\n\nMy main reason for wanting the federal loans forgiven is because I'd love to continue my education without taking on more debt. But otherwise, while I'm pretty comfortable with my current situation, I'll just have to discipline myself to work hard enough to earn more." User (bubbalv29): "This is pretty much my exact situation. I'd love to go back to school. Not only did ITT Tech teach me nothing, I've realized that I studied the wrong field. I've realized what I'd like to do with my life, but I can't act on it because I'll be damned if I'm stacking more debt up in my current situation. If I had a clean slate, sure, but I'll just have to wait, or accept defeat, which at this point, doesn't sound so bad." juvily (juvily): "I basically read back my thoughts through your words.\n\nSince ITT's closure, I've been doing some research on continuing my education. Pretty much going to a community college, then transferring to my state university. I noticed that the amount in private loans from UAS/ITT basically equals the amount of 18+ credit hours at my community college. Would you consider the option of paying what you would've in those loans to returning to school (if the price is ~same?) Then maybe during that time you're in school, there'll be official news of grant reimbursement/loan discharge. \n\nIt'd be great if at least the grants were returned. There's an associates at a community college right there." User (bubbalv29): "I honestly had the UAS loan paid down pretty far. If the entire thing was reimbursed, maybe, but I've still got the extremely large amount of federal loans to worry about."
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Any update on this? I'm in the same situation and can't find a straight answer anywhere. I understand still having to pay my federal loans after ITT closed, but it makes no sense why I should keep giving money to a company that is closed down for the loans that came straight from them and get paid through uasecho." juvily (juvily): "I thought I'd reply, since this comment is recent.\n\nI just logged into my UAS account and saw that my loans no longer exist. No matter what tab I choose, I see: "No loans exist" "No recent statements exist" etc. But history of payments & documents showing my next payment & consolidated statements are still there.\n\nI have absolutely no idea why it disappeared, or what exactly happened. And if this hasn't happened to you, or any others with private loans from ITT/UAS, then it must mean something bad regarding my account. But until I receive an answer - either from online or calling UAS/whoever - I will assume this means someone realized the ridiculousness of paying a closed down school.. Maybe? (Worst case, my loans transferred to another loan servicer :( )\n\nEdit: After a half hour of searching, this might hopefully provide some insight to both of our questions: http://omnimgt.com/cmsvol2/pub_47137/629465_1671.pdf -not 100% it has answers, though.\n\n[main case page](http://omnimgt.com/sblite/templates/a/documentslist.aspx?clientid=CsgAAncz%2b6bAf6oH%2bI6gRn%2fvOxwphVOK809dD0XHBsv0W%2bqmIARosLWVKJHq3V9bkFpVnDSeXxw%3d&tagid=919)" rhammett01 (rhammett01): "I called UAS Friday after receiving a notice that my automatic payments had been cancelled. The customer service agent didn't have much info other than "All payments had been stopped" and that they wouldn't be contacting me again. I asked if they would be sending me a letter stating that I no longer owed a balance and he just repeated that they wouldn't be contacting me.\n\nHe then gave me the phone number for The Legal Services Center at Harvard (617-522-3003) and said they were dealing with the case. I'll call them shortly because I still have no clue what any of this means.\n\nhttp://www.legalservicescenter.org/about-the-legal-services-center/contact-us/" juvily (juvily): "I wonder if my "important message from ITT" that I got in my email was notifying me that my automatic payments were cancelled. (Didn't get to read the message before the loan disappeared :( )\n\nThat agent seemed really rude. I could understand trying to be careful in what they say, since this is still an ongoing case, but it doesn't excuse their behavior towards you. Just saying "I don't know anything/am legally unable to tell you anything" would've been fine.\n\nPlease provide an update if you find the time to call them! It'd be nice for some answers, for a change." rhammett01 (rhammett01): "I called the Legal Services Center at Harvard and spoke with someone who transferred me to the voicemail of the group handling this case. They directed me to leave a voicemail and that someone would return my call. I've not heard back from anyone yet.\n\n"
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "Any update on this? I'm in the same situation and can't find a straight answer anywhere. I understand still having to pay my federal loans after ITT closed, but it makes no sense why I should keep giving money to a company that is closed down for the loans that came straight from them and get paid through uasecho." User (bubbalv29): "No solution. I've deferred the loans until October. I've pretty much given up." juvily (juvily): "Do you think the Borrower Defense/Discharge application might help you regarding your federal loans? I wanted to make sure and ask, since it seems ITT happened to act more like a recruitment agency than a school sometime after 2010. (I applied for that, but also had evidence for my application.)\n\nAs for your private loans, seems like things could be looking up if I'm reading/understanding this correctly: [Case to stop collection on loans](http://www.legalservicescenter.org/category/predatory-lending-clinic/project-on-predatory-student-lending/itt-bankruptcy/)" addkell (addkell): "They were acting like that well before 2010. I have $40k in loans with zero to show for it. My dad passed away so I stopped attending after the current quarter. They made a loan on my behalf of $9k for the next quarter in which I never even attended. "
User (bubbalv29): "OK, so I attended ITT Tech and graduated in 2014.\n\nAlong with my Federal loans, which I'm still obligated to pay, I have a private loan that I received from ITT Tech. \n\nhttps://www.uasecho.com/ \n\nI've been going there to pay on it, but since ITT Tech shut down, I haven't made a payment. \n\nI thought I read somewhere that ITT Tech can not demand payment of these loans since their closure, and that the debt was to be wiped out. I've received several emails and letters from UAS demanding payment, and I'm just wondering if I'm still obligated to pay, and if not, what action I can take to get them to stop. \n\nIt says on their website that they don't own the loan, that it belongs to ITT Tech, so I would assume that they couldn't demand me pay it back. \n\nAny input is much appreciated. " Self: "My ITT private loan has sold at least 3 times. It has a ridiculous 11% interest rate. Could I just stop payments?" User (bubbalv29): "None of us here have the answers unfortunately."
User (1yawaworhtsdrawkcab): "Almost three years ago I defaulted on a federal student loan (Grad plus - no co-sign) of about $40,000 and has obviously gone to a collection company. It is shameful and I just ignored the problem amid other problems. I know it was a mistake and my credit is trash now.\n\nI inherited a little bit of money and have now finally secured gainful employment where I am able to save a decent bit. I have enough to pay off almost the entire amount now between the two and have a little cushion, although not as much as I would prefer given paranoia of job security.\n\nShould I start with Federal Loan Rehabilitation? If important to know, I am working internationally at the moment.\n\nThank you for any insight!" Self: "You may find these links helpful:\n\n- [Student Loans wiki page](http://www.reddit.com/r/personalfinance/wiki/studentloans)\n- ["How to handle $"](http://www.reddit.com/r/personalfinance/wiki/commontopics)\n- [What's the best way to pay down my debt?](http://www.reddit.com/r/personalfinance/wiki/debt#wiki_what.27s_the_best_way_to_pay_down_my_debt.3F)\n\nI 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."
User (1yawaworhtsdrawkcab): "Almost three years ago I defaulted on a federal student loan (Grad plus - no co-sign) of about $40,000 and has obviously gone to a collection company. It is shameful and I just ignored the problem amid other problems. I know it was a mistake and my credit is trash now.\n\nI inherited a little bit of money and have now finally secured gainful employment where I am able to save a decent bit. I have enough to pay off almost the entire amount now between the two and have a little cushion, although not as much as I would prefer given paranoia of job security.\n\nShould I start with Federal Loan Rehabilitation? If important to know, I am working internationally at the moment.\n\nThank you for any insight!" Self: "I've worked in the student loan collection industry for 10 years. Rehabilitation is a great program if you can manage monthly payments. I cannot stress enough the need to send all forms back to the collection agency that they send you. I've seen people make the 9-12 payments and not complete the program because of some form. Your other option is to consolidate. Go to studentloans.gov. There you can submit the forms electronically to consolidate you loans and pull them from default. Good luck to you. I did see someone mention settlement at 90 percent. This usually depends on the guarantor of the loan. I personally have never seen a loan settled for less that 85 percent but that's not to say it never happens. Explore all your options before pulling the trigger on your choice. Best of luck to you." AnAngryMexicanGuy (AnAngryMexicanGuy): "So, if the total loans is 100k I can settle the principle for 15k? \n\nOr did I not understand something ? \n\nAlso, under consolidation, are you saying weigh the options because if some loans have a higher IR than the existing loans IR consolidation wouldn't be smart ? " Self: "I'm sorry. On settlements for student loans I've only seen 15 percent of the total balance removed. You would then pay the remaining 85. For consolidation, there are different payment plans once consolidated such as an income based repayment, income contingent, and pay as you earn. What those specific payment plans entail are beyond what the collection agency would handle. Once your loan is consolidated it's assigned to a new lender and they set the terms for repayment. They would offer the new interest rate and if you thought it was too high or were unhappy with it, you could always rehabilitate the loans. That website in my previous post, studentloans.gov would have a lot more specifics."
User (1yawaworhtsdrawkcab): "Almost three years ago I defaulted on a federal student loan (Grad plus - no co-sign) of about $40,000 and has obviously gone to a collection company. It is shameful and I just ignored the problem amid other problems. I know it was a mistake and my credit is trash now.\n\nI inherited a little bit of money and have now finally secured gainful employment where I am able to save a decent bit. I have enough to pay off almost the entire amount now between the two and have a little cushion, although not as much as I would prefer given paranoia of job security.\n\nShould I start with Federal Loan Rehabilitation? If important to know, I am working internationally at the moment.\n\nThank you for any insight!" Self: "I've worked in the student loan collection industry for 10 years. Rehabilitation is a great program if you can manage monthly payments. I cannot stress enough the need to send all forms back to the collection agency that they send you. I've seen people make the 9-12 payments and not complete the program because of some form. Your other option is to consolidate. Go to studentloans.gov. There you can submit the forms electronically to consolidate you loans and pull them from default. Good luck to you. I did see someone mention settlement at 90 percent. This usually depends on the guarantor of the loan. I personally have never seen a loan settled for less that 85 percent but that's not to say it never happens. Explore all your options before pulling the trigger on your choice. Best of luck to you." User (1yawaworhtsdrawkcab): "Thank you! I don't think I need to or can consolidate as it is only one loan - or am I misunderstanding consolidation?\n\nAlso, with settlement, is it a pretty staunch negotiation process or is it more straightforward (I suspect this may depend on the guarantor)?"
User (1yawaworhtsdrawkcab): "Almost three years ago I defaulted on a federal student loan (Grad plus - no co-sign) of about $40,000 and has obviously gone to a collection company. It is shameful and I just ignored the problem amid other problems. I know it was a mistake and my credit is trash now.\n\nI inherited a little bit of money and have now finally secured gainful employment where I am able to save a decent bit. I have enough to pay off almost the entire amount now between the two and have a little cushion, although not as much as I would prefer given paranoia of job security.\n\nShould I start with Federal Loan Rehabilitation? If important to know, I am working internationally at the moment.\n\nThank you for any insight!" Self: "On defaulted loans they'll waive all collection fees and settle for 90% of principle and interest. " User (1yawaworhtsdrawkcab): "Thank you. "
User (1yawaworhtsdrawkcab): "Almost three years ago I defaulted on a federal student loan (Grad plus - no co-sign) of about $40,000 and has obviously gone to a collection company. It is shameful and I just ignored the problem amid other problems. I know it was a mistake and my credit is trash now.\n\nI inherited a little bit of money and have now finally secured gainful employment where I am able to save a decent bit. I have enough to pay off almost the entire amount now between the two and have a little cushion, although not as much as I would prefer given paranoia of job security.\n\nShould I start with Federal Loan Rehabilitation? If important to know, I am working internationally at the moment.\n\nThank you for any insight!" Self: "As I understand: there is no rush. So take your time exploring your options, and perhaps also take your time saving up enough so that you can pay it off in one go and still have an emergency fund left. \n\nThanks for doing the work that you do." User (1yawaworhtsdrawkcab): "Thank you! Any ideas on how much waiting another few months or so will impact my credit (already trash as I think I mentioned)?" Self: "Not much. \n\nFrom the moment you pay it off, it takes seven years to completely fall off of your credit report. So if you wait a month now, it will take a month longer in 2023 or 2024 before it's completely gone from your report. I don't think that that's going to make a world of difference...\n\n(In those seven years, you can of course do other things to improve/build your credit score, check out the [wiki page on that](https://www.reddit.com/r/personalfinance/wiki/credit_building)) "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "No one can answer that question the best, but you. Do your research and go off of your wants and needs. What are your interests, do you want kids soon, etc. The place you see yourself enjoying in the long term at a great cost is the answer. More info might help people give you better suggestions though."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Why would other people's religious beliefs affect where you choose to live?\n\nThat said, I don't think it's a very wise choice to pick a 5-10 year life plan based on the financial suggestions of internet strangers.\n\nAt a minimum toys want to rent for a year or so to see if you like it somewhere before moving." Amorphica (Amorphica): ">Why would other people's religious beliefs affect where you choose to live?\n\nAren't there areas that don't sell alcohol during certain days/times or something? There's probably other conservative values type stuff?" CDRKush (CDRKush): "The great commonwealth of Kentucky."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Kansas. The only problem is you have to live in Kansas." JoeTony6 (JoeTony6): "Also Nebraska. Had friends that moved out there for work (not sure if there's any other reason to move there) and their nice sized home (3BR, 2.5BA, large basement) all-in per month is less than a 2BR apartment for rent here. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Kansas. The only problem is you have to live in Kansas." mputke (mputke): "They bankrupted themselves, those taxes are going to go through the roof soon."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "We were in a similar situation as you when we first moved near Des Moines, Iowa. I loved it there. Much cheaper than where we are now (DC area), good schools, cheaper housing, felt very safe and peaceful."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Based on areas I've been to you could move to:\n\nBend, OR\n\nSandpoint, ID\n\nSpokane, WA\n\nMissoula, MT\n\nOgden, UT" Jordaneer (Jordaneer): "Sandpoint is pretty expensive and too touristy for me, Coeur d'Alene, Rathdrum, or Post Falls aren't nearly as expensive.\n\nSpokane has the issues of a big city (drugs, gangs, violent crime) without being very big, so if you are looking at Spokane, I honestly suggest Boise as an alternative, it's close to the same size, but the issues are not nearly as Spokane.\n\nThat's just my opinion having lived in the PNW (Moscow ID) for most of my life."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "I grew up in CT and while it's certainly not the first place you'd think of in regards to cheap real estate or taxes, the fact that it's small and a short drive to several major cities made it an ideal place to grow up. Plenty of suburbia, open-minded, overall pretty efficient (as opposed to CA which is bogged down by the size and population, and LA which in my experience is very... not efficient), etc. Like, I grew up in an almost entirely white town that was overwhelmingly Catholic but never felt like anyone was unwelcome. I am now in my 30s and still shocked on a daily basis by how crazy racist and pushy about religion some people are in Louisiana because my home was just not that way.\nActually, lots of New England would probably suit what you're looking for if you're up for the cold winters."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Why would other people's religious beliefs affect where you choose to live?\n\nThat said, I don't think it's a very wise choice to pick a 5-10 year life plan based on the financial suggestions of internet strangers.\n\nAt a minimum toys want to rent for a year or so to see if you like it somewhere before moving." Amorphica (Amorphica): ">Why would other people's religious beliefs affect where you choose to live?\n\nAren't there areas that don't sell alcohol during certain days/times or something? There's probably other conservative values type stuff?" Jordaneer (Jordaneer): "In Utah, you have to buy all alcoholic beverages over 4% alcohol at a state run store."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "I have to say that what you are looking for is hands down in Oregon and Washington, both still very unpopulated and with no religious nonsense.... Portland would be considered cheap for you and Seattle is just as expensive as LA so not a good deal, that been said, you still have outer areas like Olympia and on the Oregon side, just anywhere outside of Portland would work for ya "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Way too little information. Want cheap cost of living? Look in the middle of nowhere. But then realize, you're in the middle of nowhere. " SuperSalsa (SuperSalsa): "OP sounds okay being in the middle of nowhere("peace and quiet, low mortgage taxes, low crime, and not overly populated" usually equals "middle of nowhere").\n\nThat said:\n\n* States with low property taxes usually make it up elsewhere, either by having higher taxes on other things or by having worse services(shittier roads & schools are the big one). It's a judgement call that depends on what'd work best with your habits - high sales tax doesn't matter much if you don't buy a lot of stuff, for instance.\n* What are your interests and hobbies? This is the big decider for whether you want "surburban, but in reasonable driving distance to a small city" or "suburban that might as well be rural". Outdoorsy hobbies will do better in the latter; cultural/foodie/highly social hobbies will do better in the former.\n* Where do your friends live? Your family? Forming new social connections gets harder as you get older and busier. Having pre-existing social contacts nearby makes moving a lot easier.\n* Wherever you go, rent for a year to make sure you like the area before committing." User (Perfume_Girl): "Thank you for your thoughtful and well written reply, very much appreciate it. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "I can't exactly answer your question, however, think about politics and school zones. If you don't plan to have kids, the zones will still help your home value. We bought without even thinking about kids, and the elementary was very poorly rated. \n\nI've had family live in states who generally vote opposite of their political beliefs and that can be pretty upsetting after awhile if you're passionate. \n\nWe've lived in IL and now VA. We plan to move back to IL. \n\nIn VA, our COL is very high. Taxes are low though. In IL, home values are generally lower but taxes are very high. It's ultimately more affordable for us to move back to IL, but taxes take up a huge chunk of the mortgage payments there. \n\nIf you plan to have kids, family support is helpful. Being isolated from everyone is hard or expensive if you have to travel to see them. \n\n" User (Perfume_Girl): "Thank you for your post, it gave me a lot to think about. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Why would other people's religious beliefs affect where you choose to live?\n\nThat said, I don't think it's a very wise choice to pick a 5-10 year life plan based on the financial suggestions of internet strangers.\n\nAt a minimum toys want to rent for a year or so to see if you like it somewhere before moving." captainslowww (captainslowww): "I think she's using it as conversational shorthand for "not too politically/culturally conservative". Not the most precise way of putting it, but it's a fairly common preference. " User (Perfume_Girl): "This is exactly what I meant thank you, I've lived in the east coast in a very religiously conservative city and they don't take well to people being "out of the norm" in terms of religious affiliations. It's not a huge problem, Christians can be some of the greatest neighbors/people I have ever met. But I like to have more variety in friends and talk freely about my beliefs and thoughts without feeling judged. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "You need to think more about what you want and where you want to live, but if you want to stay near CA-have you considered the edges of the suburbs of Reno or Las Vegas in NV? Cheap, not very religious, plenty of space."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Based on areas I've been to you could move to:\n\nBend, OR\n\nSandpoint, ID\n\nSpokane, WA\n\nMissoula, MT\n\nOgden, UT" ctarbet (ctarbet): "Ogden, UT is going to have significant LDS church influence. Utah law is especially religious - heavy regulation of alcohol is a real surprise to tourists."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "I live in Hawaii. Never leaving. Don't listen to what anyone that is not living in Hawaii tells you about living in Hawaii." Self: "My property taxes are less than $2500/year for a 3,000 sf house on a 7,000 sf lot. Tourists in hotels pay all of the taxes in this state. It's not as expensive to live here as people on the mainland think. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Kansas. The only problem is you have to live in Kansas." User (Perfume_Girl): "Besides homophobia, what is wrong with Kansas?\n" bhendrickson13 (bhendrickson13): "Kansas isn't homophobic, there are some people in Kansas who are homophobic, just like every state and country. As someone who lives in a Midwestern 'flyover state', people are flying over exactly what you're looking for - low mortgage, taxes, low crime, and not overly populated." User (Perfume_Girl): "I dunno, any state that passes or attempts to pass a bill similar to the Kansas House Bill 2453, seems a little homophobic to me. Not saying all of Kansas are haters, it just seems as a state they tend to have more than their fair share. \n\nEither way that is besides the point, thank you for your input. " Deane_ (Deane_): "The cheaper states to live in generally aren't the most progressive. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Bought a home in Charleston, SC while I was there for navy nuclear training. Cost me 107K 2 bed 2 bath 4 car driveway area is amazing (wescott plantation specifically) tax rate is decent and people are actually friendly. I also purchased a home here in San Diego, CA (El Cajón specifically) cost me 270K and doesn't compare to what I got in Charleston, area is very shopping focused but just not as safe feeling as Charleston. "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Fairfield, IA\n\nHolland, MI\n\nMoscow, ID\n\nLincoln, NE"
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "You can buy a lot of house in Texas. It has a cheap COL, relatively low taxes, no state tax and friendly people. San Antonio and most surrounding areas are pretty progressive and have great areas to live. There are places in Texas that aren't so great to live, but for the most part it is pretty great!"
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "way too little info....what kind of weather do you want to live in? How close to large urban areas...an hour away...5 hours away?. What kind of entertainment do you want available? How close to large airports do you want to live...1 hour away...5 hrs away?....Just saying....."
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Why would other people's religious beliefs affect where you choose to live?\n\nThat said, I don't think it's a very wise choice to pick a 5-10 year life plan based on the financial suggestions of internet strangers.\n\nAt a minimum toys want to rent for a year or so to see if you like it somewhere before moving." catladykatie (catladykatie): "I'm an atheist from rural south GA. I left before reaching full-on adulthood but...Living in an area with a highly religious culture can leave you feeling pretty isolated if you don't adhere to that same religion. Most of the social life where I grew up revolved around the church." 2016nov1 (2016nov1): "I was going to suggest Georgia to OP since there seem to be a lot of mid-sized towns with cheap homes available, plus proximity to some cities like Atlanta and Jacksonville -- but what you've described would be my own biggest fear about moving there. " jkiley (jkiley): "Georgian (now in OK) here: it's nice. I grew up in rural GA, but it's no big deal. Even in the rural areas, there are lots of people who aren't religious, especially under 35, as that's a pretty strong national trend. \n\nAlso remember that Atlanta and the suburbs are quite different (and nice) with generally reasonable cost of living. Athens is a magical hipster-filled liberal wonderland with a great university (alum bias warning).\n\nI'm in Stillwater, OK now, and I like it a lot, too. College towns are great almost anywhere, and they have a magnet for attracting people you're likely to like. " catladykatie (catladykatie): "This is a good point. I did not intend to paint all of Georgia with my description.\n\nNot all of Georgia is as backwards as my hometown. Anywhere near a larger city is going to be more diverse. My response was ONLY addressing the question of "Why would other people's religious beliefs matter." Some parts of Georgia are absolutely beautiful. " jkiley (jkiley): "I think reading our comments together captures things well. It's location specific, and places small enough to not have much else to do will tend to be unattractive if you don't want to participate in the local religion. I consider my home part of northwest GA to be rural, but it has a sizeable population, industry, commerce, a college, and reasonable proximity to Chattanooga, TN (as an aside, not inexpensive to live downtown, but beautiful and lots to do). "
User (Perfume_Girl): "My husband has a very open-ended job that pretty much allows us to live freely in any state. We are currently living in CA and I really don't like it here.\n\nWe both have excellent credit veering into the 800s, we want to buy our first house- we have a little money saved up.\n\nWe're looking for lots of peace and quiet, something suburban and small counties. We are both 30, college graduates with little debt.\n\nProbably a state that has low mortgage taxes, low crime, and not overly populated. But at the same time not excessively religious since we are atheists. \n" Self: "Kansas. The only problem is you have to live in Kansas." User (Perfume_Girl): "Besides homophobia, what is wrong with Kansas?\n" bhendrickson13 (bhendrickson13): "Kansas isn't homophobic, there are some people in Kansas who are homophobic, just like every state and country. As someone who lives in a Midwestern 'flyover state', people are flying over exactly what you're looking for - low mortgage, taxes, low crime, and not overly populated." User (Perfume_Girl): "I dunno, any state that passes or attempts to pass a bill similar to the Kansas House Bill 2453, seems a little homophobic to me. Not saying all of Kansas are haters, it just seems as a state they tend to have more than their fair share. \n\nEither way that is besides the point, thank you for your input. " bhendrickson13 (bhendrickson13): "Progressive, comfortable, low mortgage taxes, low crime, and not overly populated... Sounds like the suburbs of any city. Or Canada.\n"
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "Capital one, discover, American Express (don't use this one if you use mint.com- it constantly doesn't update)"
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "Fidelity has been great, and they have branches if you reaaaaalllllyyyyy want to go to the trouble. Otherwise never even spoken to them on the phone. Utterly seamless."
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "Never had a monthly fee with Ally or CapitalOne360 savings accounts." molassesqueen (molassesqueen): "Have Ally for savings, never had a monthly fee and no direct deposit required."
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "Never had a hassle with Ally."
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "I've been happy with E*Trade checking. It earns interest and they refund ATM fees."
User (chad311): "Just looking for any online bank account, could be savings or checking, that is truly no strings attached and hassle free -- what I mean specifically is:\n-no monthly fees\n-no direct deposit required\n" Self: "Never have had a fee with Schwab. They reimburse all of my ATM fees including international. No minimum balance requirements either. Savings at Barclay's has no fee and no minimum and I have one 1% account and one 1.05% dream account. \n\nEdit: Neither of these banks has a direct deposit requirement and no fees. To get the interest boost in the Dream savings account you need to make monthly deposits for six consecutive months but they are upfront about that." User (chad311): "cool! thank you!"
User (celeritas365): "I am a student and I live in an apartment with two other people. One of whom is graduating a semester early so we are looking to add someone to our lease for the final 5 months, which our property manager allows us to do. My friend posted an ad online and found someone. This person is 24 years old, apparently employed as a nurse, and refers to themselves as "traveling". She also sent my friend a "deposit" to reserve the place without being prompted to do so whatsoever. The apartment situation would be a shared bedroom. It raises some red flags for me that she is willing to live in this situation and that she suggested the deposit unprompted, sight unseen. I don't want to be discriminatory, I have no problem with living with someone in a different situation than me. It just seems too good to be true. My problem is I have no idea what the issue might be and I don't want to go to my friend without something more concrete. She is really depending on getting someone to take her spot on the lease. What could be some potential things that might happen? How can we protect ourselves?" Self: "Simply reply that you require a meeting/interview as well as references before making any decisions."
User (celeritas365): "I am a student and I live in an apartment with two other people. One of whom is graduating a semester early so we are looking to add someone to our lease for the final 5 months, which our property manager allows us to do. My friend posted an ad online and found someone. This person is 24 years old, apparently employed as a nurse, and refers to themselves as "traveling". She also sent my friend a "deposit" to reserve the place without being prompted to do so whatsoever. The apartment situation would be a shared bedroom. It raises some red flags for me that she is willing to live in this situation and that she suggested the deposit unprompted, sight unseen. I don't want to be discriminatory, I have no problem with living with someone in a different situation than me. It just seems too good to be true. My problem is I have no idea what the issue might be and I don't want to go to my friend without something more concrete. She is really depending on getting someone to take her spot on the lease. What could be some potential things that might happen? How can we protect ourselves?" Self: "Be careful! Sounds like a common scam where the renter sends a fake check, then ask for the funds to be returned because of some emergency. Two weeks later, your bank finds out the check is fake and charges your account back-- and you are out all of the money you returned to the renter." User (celeritas365): "Thanks! We will be sure not to deposit the check at all. "
User (21-5138-31): "\n\nI'm 22 and take home about $2,200 a month ($3,400 every 3 months) working at a distribution center. \n\nI plan to budget $500/month for rent. I plan on searching for a room and hopefully private bathroom for rent that includes utilities and internet/cable. I've seen plenty of <$500/month listings on Craigslist so I know this won't be an issue. \n\nI plan to budget $60/week for groceries. $50 will go towards food and $10 for toilet paper, body wash, shampoo, toothpaste, etc. I've never really tracked how much we spend in groceries but I can only assume this would be enough? I mostly just eat oatmeal or eggs for breakfast if I ever do eat breakfast. Typically take 2 Top Ramen packages or 2 cans of Chef Boyardee to work, and then have whatever my family cooks for dinner. This would also include eating out. I buy hot dogs 2/$1 at Sheetz a lot because my family hardly cooks dinner. We are lazy. I typically buy 4 hot dogs for $2 and some change after work. Can't beat that by buying hot dogs in stores. It costs $0.55/hot dog in packages and that doesn't even get me buns of condiments.\n\nI already know I spend about $500/month on my truck, which is gas, insurance, and routine maintenance. It's been paid for. I work 3 12 hour shifts and get 4 day weekends so I travel to our camper we have at a campground about 2 1/2 hours away and always take our family boat out fishing, so that's why gas is expensive. The only weekends I don't go is if it's snowing or like holidays/birthdays where I'm with family instead. I would love to have enough money left over in my budget to finance my own boat. I could transfer to a location the company I work for has down there but I've been requesting relocation for almost 6 months now. \n\nMy cell phone is $115/month unlimited data at Sprint. \n\nOther small things like Netflix, Amazon Prime, Spotify, and other subcriptions comes to about $60/month. \n\nAm I missing anything? Health insurance is already taken out before my take home pay. " Self: "You may find these links helpful:\n\n- [Budgeting wiki page](http://www.reddit.com/r/personalfinance/wiki/budgeting)\n- [Spreadsheets section of the Tools wiki page](http://www.reddit.com/r/personalfinance/wiki/tools#wiki_redditor_created.3A)\n\nI 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."
User (21-5138-31): "\n\nI'm 22 and take home about $2,200 a month ($3,400 every 3 months) working at a distribution center. \n\nI plan to budget $500/month for rent. I plan on searching for a room and hopefully private bathroom for rent that includes utilities and internet/cable. I've seen plenty of <$500/month listings on Craigslist so I know this won't be an issue. \n\nI plan to budget $60/week for groceries. $50 will go towards food and $10 for toilet paper, body wash, shampoo, toothpaste, etc. I've never really tracked how much we spend in groceries but I can only assume this would be enough? I mostly just eat oatmeal or eggs for breakfast if I ever do eat breakfast. Typically take 2 Top Ramen packages or 2 cans of Chef Boyardee to work, and then have whatever my family cooks for dinner. This would also include eating out. I buy hot dogs 2/$1 at Sheetz a lot because my family hardly cooks dinner. We are lazy. I typically buy 4 hot dogs for $2 and some change after work. Can't beat that by buying hot dogs in stores. It costs $0.55/hot dog in packages and that doesn't even get me buns of condiments.\n\nI already know I spend about $500/month on my truck, which is gas, insurance, and routine maintenance. It's been paid for. I work 3 12 hour shifts and get 4 day weekends so I travel to our camper we have at a campground about 2 1/2 hours away and always take our family boat out fishing, so that's why gas is expensive. The only weekends I don't go is if it's snowing or like holidays/birthdays where I'm with family instead. I would love to have enough money left over in my budget to finance my own boat. I could transfer to a location the company I work for has down there but I've been requesting relocation for almost 6 months now. \n\nMy cell phone is $115/month unlimited data at Sprint. \n\nOther small things like Netflix, Amazon Prime, Spotify, and other subcriptions comes to about $60/month. \n\nAm I missing anything? Health insurance is already taken out before my take home pay. " Self: "My only suggestion would be maybe taking a second look at your phone bill. That seems a big high to me. Idk, maybe you're on a family plan though. Personally I've been on straight talk for awhile. Same coverage as Verizon for the most part and with automatic bill pay it's $46 and some change a month, unlimited data (though it slows after like, 5gb I think). I've never gone over that amount though." User (21-5138-31): "Well where I live with my parents, we don't get internet like Comcast or Time Warner. So we get unlimited data through our cell phone for internet. \n\nWhen I get a room for rent and have internet, I could probably down grade as I'd have wifi. Is the internet on Straight Talk fast enough to watch live streams? It's how I watch sports at work on break or at the camper/on the boat. "
User (21-5138-31): "\n\nI'm 22 and take home about $2,200 a month ($3,400 every 3 months) working at a distribution center. \n\nI plan to budget $500/month for rent. I plan on searching for a room and hopefully private bathroom for rent that includes utilities and internet/cable. I've seen plenty of <$500/month listings on Craigslist so I know this won't be an issue. \n\nI plan to budget $60/week for groceries. $50 will go towards food and $10 for toilet paper, body wash, shampoo, toothpaste, etc. I've never really tracked how much we spend in groceries but I can only assume this would be enough? I mostly just eat oatmeal or eggs for breakfast if I ever do eat breakfast. Typically take 2 Top Ramen packages or 2 cans of Chef Boyardee to work, and then have whatever my family cooks for dinner. This would also include eating out. I buy hot dogs 2/$1 at Sheetz a lot because my family hardly cooks dinner. We are lazy. I typically buy 4 hot dogs for $2 and some change after work. Can't beat that by buying hot dogs in stores. It costs $0.55/hot dog in packages and that doesn't even get me buns of condiments.\n\nI already know I spend about $500/month on my truck, which is gas, insurance, and routine maintenance. It's been paid for. I work 3 12 hour shifts and get 4 day weekends so I travel to our camper we have at a campground about 2 1/2 hours away and always take our family boat out fishing, so that's why gas is expensive. The only weekends I don't go is if it's snowing or like holidays/birthdays where I'm with family instead. I would love to have enough money left over in my budget to finance my own boat. I could transfer to a location the company I work for has down there but I've been requesting relocation for almost 6 months now. \n\nMy cell phone is $115/month unlimited data at Sprint. \n\nOther small things like Netflix, Amazon Prime, Spotify, and other subcriptions comes to about $60/month. \n\nAm I missing anything? Health insurance is already taken out before my take home pay. " Self: "Personaly id add at least 200$ for "Stuff you forgot"\n\nAt least for the first 3 Months or so\n\n\nBetter to not be surprised "
User (21-5138-31): "\n\nI'm 22 and take home about $2,200 a month ($3,400 every 3 months) working at a distribution center. \n\nI plan to budget $500/month for rent. I plan on searching for a room and hopefully private bathroom for rent that includes utilities and internet/cable. I've seen plenty of <$500/month listings on Craigslist so I know this won't be an issue. \n\nI plan to budget $60/week for groceries. $50 will go towards food and $10 for toilet paper, body wash, shampoo, toothpaste, etc. I've never really tracked how much we spend in groceries but I can only assume this would be enough? I mostly just eat oatmeal or eggs for breakfast if I ever do eat breakfast. Typically take 2 Top Ramen packages or 2 cans of Chef Boyardee to work, and then have whatever my family cooks for dinner. This would also include eating out. I buy hot dogs 2/$1 at Sheetz a lot because my family hardly cooks dinner. We are lazy. I typically buy 4 hot dogs for $2 and some change after work. Can't beat that by buying hot dogs in stores. It costs $0.55/hot dog in packages and that doesn't even get me buns of condiments.\n\nI already know I spend about $500/month on my truck, which is gas, insurance, and routine maintenance. It's been paid for. I work 3 12 hour shifts and get 4 day weekends so I travel to our camper we have at a campground about 2 1/2 hours away and always take our family boat out fishing, so that's why gas is expensive. The only weekends I don't go is if it's snowing or like holidays/birthdays where I'm with family instead. I would love to have enough money left over in my budget to finance my own boat. I could transfer to a location the company I work for has down there but I've been requesting relocation for almost 6 months now. \n\nMy cell phone is $115/month unlimited data at Sprint. \n\nOther small things like Netflix, Amazon Prime, Spotify, and other subcriptions comes to about $60/month. \n\nAm I missing anything? Health insurance is already taken out before my take home pay. " Self: "If you can rent a place for that money you should be fine. \n\nI'll close by saying we have vastly different consumption priorities. " User (21-5138-31): "Yeah everybody is different. Some people enjoy spending $2,000 on a laptop to browse the internet and other's $2,000 on video games, books, car enthusiasts, etc. " Self: "Specifically living off sheetz roller dogs but I hear ya player. Live and let live. "
User (21-5138-31): "\n\nI'm 22 and take home about $2,200 a month ($3,400 every 3 months) working at a distribution center. \n\nI plan to budget $500/month for rent. I plan on searching for a room and hopefully private bathroom for rent that includes utilities and internet/cable. I've seen plenty of <$500/month listings on Craigslist so I know this won't be an issue. \n\nI plan to budget $60/week for groceries. $50 will go towards food and $10 for toilet paper, body wash, shampoo, toothpaste, etc. I've never really tracked how much we spend in groceries but I can only assume this would be enough? I mostly just eat oatmeal or eggs for breakfast if I ever do eat breakfast. Typically take 2 Top Ramen packages or 2 cans of Chef Boyardee to work, and then have whatever my family cooks for dinner. This would also include eating out. I buy hot dogs 2/$1 at Sheetz a lot because my family hardly cooks dinner. We are lazy. I typically buy 4 hot dogs for $2 and some change after work. Can't beat that by buying hot dogs in stores. It costs $0.55/hot dog in packages and that doesn't even get me buns of condiments.\n\nI already know I spend about $500/month on my truck, which is gas, insurance, and routine maintenance. It's been paid for. I work 3 12 hour shifts and get 4 day weekends so I travel to our camper we have at a campground about 2 1/2 hours away and always take our family boat out fishing, so that's why gas is expensive. The only weekends I don't go is if it's snowing or like holidays/birthdays where I'm with family instead. I would love to have enough money left over in my budget to finance my own boat. I could transfer to a location the company I work for has down there but I've been requesting relocation for almost 6 months now. \n\nMy cell phone is $115/month unlimited data at Sprint. \n\nOther small things like Netflix, Amazon Prime, Spotify, and other subcriptions comes to about $60/month. \n\nAm I missing anything? Health insurance is already taken out before my take home pay. " Self: "I'd say check out /r/frugal for cheap meal ideas. Seriously, your body will thank you one day for having an improved diet. "
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "the area you live, CoL, down payment, and other such information may be needed to determine the viability of buying and living on your own. in order to secure the best possible rates, it is recommended you have a credit score of 750+. additionally, will you be able to put enough of a down payment in order to avoid PMI?"
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "Being single, 26, or female definitely neither count toward nor against buying a home: if you want it, you can have it. The question is simply whether it's feasible. \n\nYou can calculate monthly payments toward a loan by using a simple formula `p * r ( 1+r)^T / ((1+r)^T - 1)`. Where `p` is the principal, `r` is the monthly interest (e.g. divide 0.05 APR by 12 for the monthly), and `T` is the term in months: 180 for 15 years 360 for 30. For instance, if you got that house for 160,000 and had 5% on a 15 year loan, you'd have to pay $1265.27/month just toward principal/interest. Budget $200 / month for escrow, taxes, and insurance. You also have to pay mortgage insurance until the principal is under 80% what is owed. It is tempting to throw all your savings at the down payment, but there are many closing fees, so you must account for those when buying.\n\n\nDefinitely take a tally of other expenses in your life. Most people try to shoot for a 1/3 posttax salary toward "housing": it's really a matter of having the extra cash on hand to deal with emergencies: you correctly allude to repair/maintenance and you should pair for repairmen or techs to do the dirty work for you at first. \n\nAssuming you receive about $3,300 / month in salary. 1/3 of that would be somewhat close to the loan amount, but banks don't like lending 100% of the pre-approval amount."
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "As a current homeowner, I would advise that if you are not handy at fixing things (or know and can afford a good handyman), you will quickly grow to regret buying a home. \n\nI understand wanting to move out, but why is buying a house (or condo, or townhouse) the only option? If your only downside for renting is having a roommate... then don't get one.\n\nIf you'd like the experience of living in a house without actually buying one, rent a house! Not sure about your area, but there are several houses for rent near where I live where you get the benefit of living in a house (not attached to any other building, yard space, more of a neighborhood feel) without the downsides of actually owning a home (property tax, home maintenance, homeowner's insurance).\n\nFinancially, it looks like you could afford to buy a home; however, it doesn't seem like it's the right personal choice for you. I agree with u/forlorn_hope28 that more specific information would be needed to truly get a sense of your financial situation."
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "This is my personal experience with buying a home.\n\nI was 24 and single making about $40k a year in 2009. I played around with mortgage calculators and figured out that a $60k house with insurance/property tax, would cost me a little less than a decent 2 bedroom apartment. So I bought and old run down house located in a nice blue collar neighborhood. I have fixed it up quite a bit, about $15k worth. I just refinanced a couple months ago and it was appraised at $86k. My new loan is for $50k. I am pretty damn happy with how this has worked out for me. I would say not only can it be done, but it can even turn out to be a decent investment. There are a lot of variables to look at though, and I highly recommend making sure you weigh each carefully."
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "I am not sure that using a home at your age is a good idea. You are pretty young and not really settled in life yet. A home is an illiquid asset and may or may not make you money as an investment, especially if you sell within 5 or 6 years. Even at today's low mortgage rates it will be several years before your mortgage payments even touch the principle, and any earning must come from market price inflation which ideally will surpass the money you have to put into maintenance and repairs. \n\nUnless you are sure that you are not going to move somewhere else, are secure in your employment and will be for a long time, and have no intention to get married, I think you will be better served having $36,000 in savings. \n\nAdditionally, I agree with molasses queen about the unexpected costs of home ownership. For example: will you buy a lawnmower and cut your own grass or pay someone else? Snow shoveling? How much money will you have for furniture after you buy the house? Drapes? Hotwater heaters get replaced about every ten years at about $800 a pop, plus installation... and so it goes. It's conservative to assume $1000 a year, every year, for maintenance expenses - some years you won't spend that but overall you'll average that. \n\nPlease do a lot of research and talk to young friends about their expenses before you start calculating "
User (quierocasa): "Hello all, \n\nI was just preapproved for a mortgage loan for 160,000. I have 36000 in my savings account. I've already paid off my car loan. The car is worth about 17000. I have also paid off all my student debt. Currently my credit card score is 738\n\nUnfortunately I only make 47,000 a year before taxes and am a single female. What tips can you give me?\n\nI'm currently living with my mom but have experienced living with a roommate for 2 years... I don't want to go back to renting but am afraid of jumping into home buying because of maintenance and upkeep. \n\nI was considering purchasing a condo or a townhome instead of a typical house but I don't know if they hold their values as well. \n\nWhat would you advise?" Self: "As someone who bought a house at 24, it's something I recommend you put a lot of thought into. Beyond just the finances, home ownership makes moving for a job, relationship, or family much more difficult. Not much more than a year after buying my home, I was offered a position in a completely different state. The prospect of having to sell my house or rapidly figure out how to rent it out played significantly into my decision to turn it down.\n\nAs far as finances, there are a considerable amount of hidden costs to home ownership. I've wound up replacing all of the appliances in my house in 2 years. There have been occasional oddjobs like replacing door knobs, fixing toilets, fixing a tub drain, etc. Most of them are things that can be googled or seen on YouTube, but there is still significant cost and time investment. We had an unusually wet spring in the first year and some of that water ended up in my basement. I was definitely ill-prepared when I stepped into a room-sized puddle with more water still coming in. (This is when I learned Shop Vacs could vacuum water) The cleanup was not cheap.\n\nWith your student and car loan paid off, and your sizable savings, you're definitely doing pretty well. At least when I was preapproved, it was for 40% of my gross income as the maximum monthly mortgage payment. That amount was cutting it too close if I'm honest and it essentially forced me to advance my career. I would recommend purchasing something below the maximum you're preapproved for, just to have more breathing room.\n\nFinally, I think it's important to think of why you want to purchase a home. The brief history that you've given us so far suggests that you're probably not a big impulse buyer, so I'm not too worried. I would just make sure it's something you really want and not just because it might be viewed as the "next step" or because "renting is throwing money away". You could easily meet someone who gets a job in another city or a job opportunity could open elsewhere, and a house will really tie you down in those situations. I'd also make sure to pick a home that when you get raises in your career that you'll still be happy with. It's a decision that deserves an incredible amount of thought."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: ">A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away\n\nYeah.. that is pretty much common sense." User (wheezyFpuppy): "yupppp. I was stupid and grossly overestimated my worth to current place. " tcwillis79 (tcwillis79): "You'd be surprised how often this happens. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: ">A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away\n\nYeah.. that is pretty much common sense." User (wheezyFpuppy): "yupppp. I was stupid and grossly overestimated my worth to current place. " Hinote21 (Hinote21): "doesn't it also depends on how you approach the situation?"
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Sorry that your boss saw through your plan.\n\nIf the new job was THAT good, you would've taken it and they knew it. Instead, they learned u we're job searching so prob knew there was nothing they could do to keep u happy for long. \n\nTake the new job."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "You say you were bored with your current job. Perhaps you should have channeled your ennui to thinking of ways to make yourself more valuable to the company. Employers value employees that are engaged, so if you were bored maybe your employer became indifferent to whatever value you were offering? Put yourself in your boss's position, think of how he may have viewed you, and what you may have done to affect that, before demonstrating your lack of commitment, as your boss will see it, by seeking employment elsewhere?\n\nAnd also like they say, before you pull a gun, are you prepared to really use it."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Ive been through this one. If you are unhappy just move on. Dont sit around there. The 20% more that you will make will help you make the 20% more the next time around. You will learn more and experience more by moving on. Have lots of jobs, get lots of experience and you will be a more well rounded person because of it. " parkufarku (parkufarku): "OP. This. Theres a reason why this comment has a 100 upvotes. Change is intimidating, but take the risk. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Not to be rude, but if that was your boss's response it sounds like he didn't really like you and that there might be some soft skills that you could work on. If you were somebody that your boss at least wanted to work with, I feel like they would have had a softer response than to merely ask you when you're quitting" ZerexTheCool (ZerexTheCool): "There is a lot of missing context to draw this conclusion. We don't have the words, the tone, or the body language. We simply have the statement of fact from a single person's post.\n\nDon't dig deeper than your information allows for."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "This falls into the rule my dad (a salesman) told me once about negotiations: if you aren't prepared to walk away, you have no leverage."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Not really a TIFU, more of an opportunity in disguise. Move into the other role, work hard, and keep looking. If you find something else you will have a role with the extra pay as your current value, so they will offer around the new job's level, possibly higher. Yes, the new job is crazy, but move on asap and it is temporary. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "My boss said wow that's great you should take that lol and congratulated me on getting a new job. I basically stumbled into a low paying but high value experience job and after a year of doing that it paid off with a raise of about 90%-100% by getting a new job. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "No biggie, now at least when you find another job you can legitimately say your making X per year and would only accept if they're paying Y% more. \n\nKeep looking, I'm currently working on trying to be in your situation (shitty underpaid job, looking for another job that pays better)"
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Ive been through this one. If you are unhappy just move on. Dont sit around there. The 20% more that you will make will help you make the 20% more the next time around. You will learn more and experience more by moving on. Have lots of jobs, get lots of experience and you will be a more well rounded person because of it. " ttoilleynnek (ttoilleynnek): "Seconding this. Moving jobs generally moves you up in pay much quicker than yearly raises will. When the new guys ask what the old guys are paying, always tell them a little more than what you're actually making. This is on the honor system and can not actually be verified." Amairch (Amairch): "That's bad advice. It's better to say "my current employer considers that information confidential but I'm looking for at least x" where x is a number or range of what you would accept for a job. Getting caught in a lie could get your offer pulled, and also what you were making before is none of their business. Just because they ask the question doesn't mean you need to answer it. " awall222 (awall222): "I've heard of places that check pay stubs and catch people doing this, even for six-figure salaries." puterTDI (puterTDI): "The more you make, the more reason they have to double check your salary claims."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "At least you have a new job and a little more money." User (wheezyFpuppy): "yeah, but totally dreading it" Not_the_brightest (Not_the_brightest): "If it helps any, I took a new job mid October. Anxiety attacks, and constant questioning of whether I made the right decision quickly gave way to being thankful I left.\n\nYou'll get through it and be better off for it."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "At least you have a new job and a little more money." User (wheezyFpuppy): "yeah, but totally dreading it" Bluepass11 (Bluepass11): "How many more hours? Is your commute shorter or longer?" User (wheezyFpuppy): "Shorter commute but longer hours - the killer is a really strong 'live to work' culture. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Nah, don't worry about it. I did the same thing and it led to a great opportunity and expands your network. Get out there and kick some ass." User (wheezyFpuppy): "Thanks!"
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "The "leverage" thing is something I see on this sub a lot and honestly I doubt most of those saying it have ever been in that position.\n\nThe truth of it is, they won't counter unless they see you as one of their seriously top people. Bottom line. For most managers, you're just a cog in the wheel. They got by before you and they'll get by after. You need to be in a position where losing you will really be a difficult situation for them. \n\nThis is especially important for jobs which are not highly skilled jobs. They can replace you literally today.\n\nPeople see things in black and white but here, it's not so simple. While leverage works for some people, don't bank on it. I'd say the odds are against you. I see people on here often saying the opposite and I think it's irresponsible.\n\nIf you are using an offer as leverage. You MUST be prepared to walk away. Do not make up some leverage and do not use leverage if you don't actually feel you're happy to walk away and into a better position. Sorry OP, don't mean to rag on you, it's more on the people on this sub who give this advice.\n\nOne last thing has to be mentioned too. Even if you're lucky enough to get a counter offer and it's acceptable to you... it's still sort of a black mark on you for a while for most managers, and it gets worse if word get's around. Managers will somewhat question your commitment and loyalty for a while so if you get the raise, they expect you to earn it going forward. It'll wear off eventually once you've proved you're not the sort to pull this for no reason. They want to see that you are infact committed and dedicated to your current position and you were only thinking of accepting the other offer because it was justso much better financially, it wouldn't make sense to turn down... otherwise you'd never dream of leaving your current position.\n\nSince word easily gets around a workplace, co-workers can be somewhat resentful of it too because if you get a raise, it's at their expense. There's only so much money for bonuses and raises in any company and if it goes to the other guy, you won't be happy. They'll also question, like the manager, how much they can rely on you if it's some sort of project setup where they feel you might just up and leave any time leaving the burden on the workload on them to meet deadlines.\n\nThink about what you're doing and make sure you're doing the right thing." yes_its_him (yes_its_him): "From what I've seen, I think you're mischaracterizing how "leverage" is used here. It's more typically the case that it's used to help someone know what they are worth in the market. \n\nAdvice here is more typically to find a new job to get a raise, or to at least get a new offer as a guide to asking for a raise. It's rare to see advice here say to get an offer, then go to your current job and say you have another offer, as OP did. It's far more common to see the opposite advice, in my experience, which is: don't mention other offers. " Self: "If used correctly... yes, you are correct. But in fairness, anytime a job topic comes up here someone invariably brings up the leverage thing as a way of getting a raise at their current job. Infact, OP posting this topic kinda shows they read and took that advice.\n\nReally I'm just telling people to be cautious and understand what you're doing. If it were just as simple as walking into your bosses office and telling him you have another job offer, and expecting him to throw you a blank check, you'll be sadly disappointed and I wish it wasn't such a "go to" reply to employment threads." RoyGilbertBiv (RoyGilbertBiv): "Do: get a job offer, confidently ask for a raise, take offer if rejected, or in op's case go back to your cube and sulk\n\nDon't: get job offer, throw job offer in employer's face, force your own hand into job you didn't want"
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "> As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress.\n\nThat's not the type of job you should be using to leverage your raise. Should be a job you're willing to take lol\n\n> Also totally screwed myself out of a hefty bonus.\n\nLPT: don't quit until last year's bonus is in your bank account :P If you're giving a month's notice, quit for March 1st. Unless you get bonus at Christmas, you can give notice after New Years and leave for Feb. 1st."
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "You're bored, stressed, and under paid, tell me again why you want to keep this job???" CerwinVegas55 (CerwinVegas55): "I'm bored, stressed, underpaid, overworked and constantly going away on business but the time off and the benefits are out of this world. If I typed them out for you, you would be flabbergasted. I have applied and interviewed for other jobs with 30% more pay, but I like only working 175 days a year. My time off is worth a lot more to me than what I make an hour. " ShinyTile (ShinyTile): "In that case, it sounds like you've got an almost reverse opportunity cost thing going on. Sounds good to me! " CerwinVegas55 (CerwinVegas55): "It sounds good to a lot of people I talk to. But the job feels like torture. I always joke to the new guys that they don't pay you to work there, they pay you to stay. And it's true. I have looked around and I choose to stay. It's just extremely taxing. I could have nicer cars and a bigger house and probably have a lake cottage and a boat and all the toys I want, but then I'd never have time to enjoy them. I love this sub and almost all of it's advice, but I am of the opinion that if you can live comfortably and can provide for your family and have fun doing it, then you might not need or even want a raise/promotion. Mo money mo problems. " ShinyTile (ShinyTile): "Completely fair. I know people who make 50% more than I do, and spend 3 hours/day commuting. I could never do it. I'd rather have less money and time to enjoy it than more money in the bank and no time to breathe. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "This one rule has really helped me : don't use job offers you have no intention of taking during negotiations." nikatnight (nikatnight): "Exactly. I think that's usually mentioned or implied. It seems like OP wasn't actually interested in moving or taking on more work. \n\nI negotiated for a raise then wasn't offered one and finally brought up a counter offer. They still didn't budge and I left. I didn't want to leave but I had to make that decision once I was snubbed. "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: ">A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away\n\nYeah.. that is pretty much common sense." User (wheezyFpuppy): "yupppp. I was stupid and grossly overestimated my worth to current place. " femtester (femtester): "Points for honesty. I really hope you thrive at your new place "
User (wheezyFpuppy): "A cautionary tale for all those who read that getting a new offer is a good way of leveraging a raise at your current job - if you do this be prepared that you may have to walk away. \n\nI have been bored, mildly stressed, and grossly underpaid at my current job. I had been looking around at other jobs and submitting resumes, and recently was asked to interview at a position that paid 15-20% more than I currently make. As I went along the interview process I realized this new job would be more hours, less flexibility, and more stress. I figured worst case scenario they would make me an offer, I could use it at my (then) upcoming employee review to try and get a raise.\n\nWelp, I went into my review and told them of the offer, and they didn't attempt to counter. Boss basically said 'okay, when is your last day going to be?'. Now I am suffering from job buyers remorse, and don't think the extra money from the new job will be worth everything else that goes along with it. \n\nAlso totally screwed myself out of a hefty bonus. Maybe I should x-post to TIFU.\n\n\n\n\n\nEdit: obligatory 'this got way more attention than I thought it would.' I just want to add some context. \n\nOne - I did not go to my employer demanding a raise 'BECAUSE OFFER' like many assume, I was very brief in my original post and the actual conversation was far more civil than I implied, and a lot of the acceptance regret came after I agreed that leaving was best. (Change is terrifying amirite?)\n\nTwo - I am getting replaced by a outsourcing company in India which will cost my employer probably half of what they currently pay me in salary and other benefits. My boss ultimately looked at their bottom line and realized they had an opportunity to get someone to do my job at half the cost of my salary and benefits, without having to lay me off and pay unemployment. The more I think about this the more I realize this is exactly why I wanted to leave because its indicative of how they view their employees, I was just reallyyyyy dumb in how I went about it and jumped the gun. \n\nTL/DR Summary - Don't give your notice and reference a new job offer unless you're 100% willing to take new job. Duhhhhh.\n\n\nTHIRD EDIT: I want to add that I have never not been a model and hardworking employee, and had a good relationship with my boss. I am an international account coordinator, part of my job is sales and another part is coordinating projects around the globe to ensure my clients get what they want when they want it. I was naive and thought that this was un-outsourceable. (In hindsight, the signs were there. Other people who left were never replaced, or new projects were sent to 3rd party companies etc...) I thought I was that employee that would be indispensable, but I failed to consider how 'penny wise pound foolish' my employer could be, and that they ultimately would always put their bottom line ahead of relationships. Again this is a legitimate reason to leave a business as well as a good thing for me to get out ahead of it. I just should have not jumped on the opportunity with a new offer I wasn't sure about.\n\n" Self: "Yeah, you have buyers remorse, but here's the thing:\nIf you wait till you have no buyer's remorse, you waited too long.\n\nThe other thing was that they didn't really fight to keep you. It could be because they don't see your value, or that you're not a good fit, or just they think you're ready to move. Hard to tell, but regardless, you probably made the right choice.\n\nNow go out there and kick some ass!"

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