Datasets:

danielv835
/

pf_coach_v0.1

Dataset card Data Studio Files Files and versions Community

Split (2)

train · 300k rows

conversation stringlengths 56 26.4k
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "A good start would probably be a second job and another bank account that they aren’t aware of. Begin saving up and get ready to move out and cut ties with them. \n\nIf you’re making $800/month minimum wage it sounds like you’re working part time. \n\nA great entry level career would be with a company called Fastenal. They’re everywhere and always hiring, they have a promoter from within culture so you start part time at $10/hr and could be working full time making $40,000 a year in 1-2 years if you prove yourself. " User (RIPmylife12): "My apologies, i make 800+Overtime per paycheck one on the 20th and one on the 5th of the month. About 1600/Month minus taxes. " piezombi3 (piezombi3): "Wait. You make 1600/month and he takes ~600-700 every month? What are you doing with the other 900? It’s pretty fair to pay rent, what your parents are doing is pretty shitty though. \n\nStart an online bank account at Ally or something and funnel your paychecks there. I’d be sneaky about it and keep sending ~300 to your old account and just say your hours got cut or something. That way they can only max withdraw what you would have to pay in rent anyway and won’t kick you out. Then use your stash to find a new place. There are plenty of places looking for roommates who will let you do whatever the fuck you want in your own room." User (RIPmylife12): "600-700 out of every pay check is what was stated. I make around 800 each paycheck. I accidentally said 800 each month as income in the original post. Leaving 200 for my other responsibilities like insurance, gas, food, phone bill ect." macphile (macphile): "All of my fucking wut and then some. $600-$700 a check, not a month? So $1200-$1400 in rent and "debts"? For one room? I* don't even pay $1200+ for my apartment, and it's a real place, fairly well located in a big city, that I don't share with my parents. And it has a kitchen and stuff. \n\nDid they ever itemize what you "owed"? There should have been a formal plan in place (if anything at all). One that would make sense would be to charge $600 (or less) a MONTH, not a check, for rent. Then have an itemized list of debts, ones you actually are responsible for, like to your previous apartment or something (not the motherfucking "cost of raising you"). And then add that on at a certain rate per month, and there it is. Done. But that's not what happened. As it is, it sounds like "give us all your money and STFU", like they're robbing you. Christ, man, at least a mugger only mugs you once."
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\*Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "Cost of raising you and damages while growing up? \n\nI’d get kicked out. " User (RIPmylife12): "I try not to think about it. I would imagine homeless is worse though.\n\n&#x200B;" Just_Ferengi_Things (Just_Ferengi_Things): "I would rather live in a car and couch surf at friends than to sell my soul like that. \n\ncheck out /r/vandwellers." Cainga (Cainga): "With a warm enough climate and shower facilities the only downside would be getting a good night sleep and fighting boredom for me. Good short term solution until you can save up some money. " Just_Ferengi_Things (Just_Ferengi_Things): "Boredom exists in any form, no matter where you are. Read a book, play game boy, hang out with friends, work on a side hustle, hit the gym, upgrade your vehicle or living space. All this happens whether you live in a van or a house."
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\*Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "Lots of stuff here.\n\n>Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up.\n\nSpecial place in hell for your parents.\n\n> i have no access to any of my money\n\nGo to your bank and open a new account. Get your wages directly deposited to this account. \n\n>ends me out of the house if he doesn't want to see me. \n\nYou need to move in temporarily with a friend or other family member.\n\n>they have also added accounts from American Furniture warehouse\n\nGo to the police station and file a police report. They committed fraud.\n\nGood luck.\n\n" User (RIPmylife12): "Thank you for your help, the only problem i have with this is my dad is the only one with income in the household and my little brother is still reliant on him as well as my mother. I get i have to help myself, my brother doesn't deserve that though and i don't think i would have the means to take care of him if my dad went to jail." SuperSailorSaturn (SuperSailorSaturn): "Your brother also deserves to not follow in your foot steps and be financially sabotaged if he isn't already."
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\*Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "Cost of raising you and damages while growing up? \n\nI’d get kicked out. " User (RIPmylife12): "I try not to think about it. I would imagine homeless is worse though.\n\n&#x200B;" jakestucker (jakestucker): "Being homeless (with a car and friends where I can crash if I need to) is the best thing I've ever done. I'm an artist and I travel around Houston, and southern Mississippi doing art, hanging out and sleeping at Walmarts. Beats the hell out of my oppressive af mother. I didn't care that the relationship was going to be ruined when I exploded and left. I ignored "we paid for your upbringing and that bed! And that and that!...etc" and took my bed and furniture and shit and got an apartment. Failed a whole bunch of times to get my life right, but money was always this "dirty" thing that wasn't for candy, or games or cool hats or yo yos, or anything fun. Money is only for saving so you can die with stability damnit! /S so what I did.. (and this the big part, and even if you don't want to be homeless ever but think it may happen... This is why it's all gonna turn out okay) is I stopped letting myself believe life was over if I had to sleep in my car. So I did it more and more. I worked, enjoyed my college days drinking and working and spending time with friends, and just didn't tell people I was homeless. I stopped believing that there was a process or set of rules to get from childhood to boring adult, it's all fucked and you gotta pick the least fucked path. Basically the key here is don't let that fear control you, if you wake up and keep working towards the future you want, nothing is failure, even living on the streets. I'd get the hell out. Embrace the chaos that will come from that and just rise above it. And find some way to get your money back, if they used it for building credit... Take the furniture, it's yours my friend. :) I float between my bestest of friends, family and Walmarts, and it's cool, don't be afraid of it. (Psa: don't seek out homelessness unless you're doing some van dweller shit lol)" Cainga (Cainga): "This won’t work in the north unless you leave from early December thru March. " jakestucker (jakestucker): "You're right. I've been in Texas almost my entire life so I didn't even think about that, good catch! "
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\*Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "You can rent a motel room for 200 per week and tell your boss to cancel direct deposits and take payment a check" pirate694 (pirate694): "Thats $800 a month... What about living expenses?"
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "USAA...Are you prior service or are one/both of your parents. USAA can work with you to create a new account.It won't be easy but you'll need to do it and immediately change your direct deposit to check if available. Pocket the money immediately. Report to a credit bureau and/or IRS to let them know your social is being used . At this point, their actions are criminal and they seem quite shitty. If they wonder where your money went in the process of switching direct deposit accounts, claim ignorance.pocket cash. get the fook out of dodge and cut them off.\n" Kv603 (Kv603): "> bank through USAA so there are no physical branches i can go to and withdraw my own money from. \n\nYeah, you want a local bank or credit union, something that isn't USAA.\n\nSure, USAA can work with you to create a new account, but at this point I would be looking to move to a different bank entirely, one where the parents do not have an account*. " Self: "solid point.I was considering if he wanted to keep USAA or start something lowkey with a familiar source.I have USAA services but do not use them for banking. They have always been solid for me.\n" actualsysadmin (actualsysadmin): "I used them for auto insurance, then added renters insurance and banking. It's all been a breeze.\n\nYou can withdraw at any ATM and at the end of the month they will refund you the fees.\n\nI don't ever have a need to deposit cash, but you can purchase a money order and deposit it with the app." Self: "That actually makes banking through them sound very handy.Especially with the fees for ATMs refunded at the end of the month.I've been with one of the credit unions that was on my first duty station and they have done well by me,but banking with USAA really does sound like it would make sense.I do occasionally deposit checks, but I see where you can take images of them to submit. \n\nAwesome info.Thank you." actualsysadmin (actualsysadmin): "Yeah, I move around so having a non centralized bank makes sense for me. Honestly if it wasn't so easy to deal with them I probably would have moved to Ally by now, but banking with USAA is just so effortless. Not to mention it reduced my rates for insurance."
User (RIPmylife12): "So what's basically happened is that i lost my job and couldn't maintain my apartment in which i got evicted. My parents offered to house me for a short period of time if i allowed them control over my finances and i thought good on them and accepted it. Now, these are the same parents who charged me for stuff i broke as a KID when i got my first job. Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up. Now, they had me sign an agreement for the control of my finances and that i basically do as they say. They weren't very specific and i trusted them and signed the thing. Now as a result they charge me 600 in rent every month for a single small bedroom in which i can not even have anything other then clothes and a bed in according to their rules. I am only making minimum wage and i barely make 800 a month and my dad takes 600-700 out of that paycheck to pay "Rent" and my "Past debt". I trusted him and didn't argue because the goal was to have me back out on my own in three months so i wasn't too worried and i was just going to endure it. At this point i have been here for 7 months and i have no access to any of my money. I bank through USAA so there are no physical branches i can go to and withdraw my own money from. I feel completely taken advantage of and i even brought that up to him several times in which he argued and refereed me to the agreement stating that he can kick me out if i don't follow his agreement and sends me out of the house if he doesn't want to see me. I feel completely disrespected and taken advantage of, yet i see no way out myself without the result of being homeless. I have considered opening a second account and routing half my money from two or three checks to that account and using it to secure an apartment for myself and convincing him there was a mistake at work and they plan to fix it. Right now i went over it myself and i have made no progress in 7 months to getting out of this situation. Is there some sort of legal action i can take against this or something to at least get out? I don't think i have a way out of this without regretfully ruining my relationship with my parents.\n\nEdit\\\*Recently they have also added accounts from American Furniture warehouse to my credit and i show an extra 5k in debt in which they blew off and said that it would only help me. Is this even legal? I'm far from pleased with this yet arguing that fact could have me homeless. " Self: "Lots of stuff here.\n\n>Supposedly i owed them near 3k dollars for the cost of raising me and damages i caused growing up.\n\nSpecial place in hell for your parents.\n\n> i have no access to any of my money\n\nGo to your bank and open a new account. Get your wages directly deposited to this account. \n\n>ends me out of the house if he doesn't want to see me. \n\nYou need to move in temporarily with a friend or other family member.\n\n>they have also added accounts from American Furniture warehouse\n\nGo to the police station and file a police report. They committed fraud.\n\nGood luck.\n\n" User (RIPmylife12): "Thank you for your help, the only problem i have with this is my dad is the only one with income in the household and my little brother is still reliant on him as well as my mother. I get i have to help myself, my brother doesn't deserve that though and i don't think i would have the means to take care of him if my dad went to jail." Spicyfrijoles (Spicyfrijoles): "Normal parents dont bill kids for damages growing up.\n\nIf anything its part of raising a child they decided to make. You have no obligation towards your parents" EpikChoices (EpikChoices): "Normal parents lol... this reminds me, my parents bought a house for me and my family to live in near an out of state college. After 3 years of college when I graduated, we were moving so the house needed to be sold. My dad said we would give me 10% of the price of the home sale to clean it, fix all minor handyman problems and manage the contractors for the larger projects and work locally with the real estate agent. I was planning on cleaning it and fixing what I could anyway so I agreed to managing...\n\nAfter they sold it I brought it up, he said the 10% he ‘owed’ me is much less than what I owe them for the cost of raising me. Lol never saw a dime but no big deal since I didn’t buy it anyway. Just thought that was funny. " KeeperofAmmut7 (KeeperofAmmut7): "I don't think that was funny, I think it was rotten of them. You did all the work and you got hosed." EpikChoices (EpikChoices): "You’re right. I have dulled my senses to my parents due to this type of treatment (and many other things). When I look back at these types of memories I just laugh now at the blind trust I had for my dad even though he would continually do these type of things. More of an ironic funny at how stupid I was. \n\nThen of course now that I don’t talk to him really he is the victim of a disrespectful child. " KeeperofAmmut7 (KeeperofAmmut7): "HE was never the victim..."
User (WingoWangoJuango): "I am looking for a washer and dryer for my apartment. I was at BestBuy last night and I saw a good combo I want which will be around $1200 total. Frankly, I can buy this outright; However, I want to start building credit as I literally dont have anything but a few hard inquiries. I already applied for the best buy credit card and was denied because of not having any credit accounts. How can I buy this washer and dryer set and build credit while doing it? Credit card, or maybe a small loan from the bank?" Self: "No reason to get a loan for something like this. \n\nBuy it in cash, and get a secured credit card to start building credit. " User (WingoWangoJuango): "Okay. "
User (WingoWangoJuango): "I am looking for a washer and dryer for my apartment. I was at BestBuy last night and I saw a good combo I want which will be around $1200 total. Frankly, I can buy this outright; However, I want to start building credit as I literally dont have anything but a few hard inquiries. I already applied for the best buy credit card and was denied because of not having any credit accounts. How can I buy this washer and dryer set and build credit while doing it? Credit card, or maybe a small loan from the bank?" Self: "I wouldn't. It's not worth it paying interest to build credit.\n\nSeparate note, research the appliances. Make sure you don't get a front load washer. They are a poor design and will fail beyond worth much sooner than a top load. "
User (WingoWangoJuango): "I am looking for a washer and dryer for my apartment. I was at BestBuy last night and I saw a good combo I want which will be around $1200 total. Frankly, I can buy this outright; However, I want to start building credit as I literally dont have anything but a few hard inquiries. I already applied for the best buy credit card and was denied because of not having any credit accounts. How can I buy this washer and dryer set and build credit while doing it? Credit card, or maybe a small loan from the bank?" Self: "I'd visit a laundrymat before financing appliances. \n\njust buy the washer/dryer. if you want to start building credit, get a CC and put your netflix account on it and nothing else. cut up the card. pay bill in full each month. credit score will gradually improve. " User (WingoWangoJuango): "I’ve been using the laundry mat for years man I want to invest in something I can keep for years. " fawningandconning (fawningandconning): "A good washer/dryer combo IMO is something worth spending a decent amount of money on. My parents whrilpool set they bought new for ~$1500 or so in the late 90s is still in near mint condition today. Just a few belt replacements over the years, no other issues. " smthngwyrd (smthngwyrd): "Perhaps look at a used appliance shop that has good reviews I paid almost 2.5 k for front loaders so traded old ones for yard work, they still work just upgraded"
User (WingoWangoJuango): "I am looking for a washer and dryer for my apartment. I was at BestBuy last night and I saw a good combo I want which will be around $1200 total. Frankly, I can buy this outright; However, I want to start building credit as I literally dont have anything but a few hard inquiries. I already applied for the best buy credit card and was denied because of not having any credit accounts. How can I buy this washer and dryer set and build credit while doing it? Credit card, or maybe a small loan from the bank?" Self: "I'll play devils advocate. Financing is not bad, paying interest is. I'd apply and put it on the best buy credit card. 0% for 18 months. Set the money aside to pay it off, earn a little interest, build a little credit. Just make sure to make minimum payments on time and pay it off before the promotion period expires so you don't pay any interest. Credit can be used responsibly, believe it or not." User (WingoWangoJuango): "That’s my problem I was denied access to a Best Buy card because of no credit "
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: "You may find these links helpful:\n\n- [Student Loans](/r/personalfinance/wiki/studentloans)\n- ["How to handle $"](/r/personalfinance/wiki/commontopics)\n- [What's the best way to pay down my debt?](/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 (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: "Since you’re a graphic designer can you freelance on the side? I know graphic designers who charge $85-$120/hour freelancing. "
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: ">The loans in her name are consolidated at 8% and I pay $215 a month towards them\n\nYou got to think long and hard about this. These are not your loans. Unless you specifically agreed to pay these back, I would not feel obligated to help pay them." User (number34): "As the other poster mentioned, I don't think we'd have a relationship if I didn't make a meaningful effort to pay these down. She helps when she can, and has made the monthly payment for me during rougher periods for me. \n\nThat said, everything we've paid together so far is going to interest. I owed $30,000 on it when I graduated and I owe just about that amount now. It feels suffocating, but I don't know what other option there is."
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: "You've done a good job thus far paying off the interest at least. Problem could have been waaaay worse if you let those lapse. Now at this point, you need to scrounge as much as possible. Live cheaply, eat cheaply, commute cheaply.\n\nGet some sort of side-gig, any side gig. \nIf you don't want to invest too much time and effort, there's always /r/beermoney or /r/mturk. Anything to pay off more than the interest. \n\nMake a budget, and ensure that you budget some money for fun as well. A year or two of that, and you'll get those loans down to manageable numbers. \n\np.s. It kills me that people suggest not paying back the loans that your mother co-signed for you..." User (number34): "It kills me too. We both made mistakes, but we're family and she believed in my abilities to make a career as an artist. I couldn't, but I don't want to dump that burden on her! \n\nI make about $500-1000 on the side from freelance design/illustration gigs which seem be snowballing into more and more work. I've been broke for a lonnnnng time, so I'm hoping those skills I've picked up along the way will help me budget going forward.\n\nThanks for the advice. "
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: ">Is there anything I can do?\n\nearn more income. \n\nbest case, you can use your art talent to double that $40k annual income. \n\nI agree about the fine-art world being detached from everyday reality. but that doesn't mean you can't earn some good income on the side. you don't have to be Damien Hirst or whoever. maybe you can do like Bob Ross and create paintings in front of people and sell 'em for $100 for half an hour's work. maybe you can use that degree from Elite Art School and teach classes ... rent a room at the civic center for $100 and teach art to a dozen people who each pay you $40/hr, once a week. maybe you can do graphic design on the side, print up some flyers and business cards and visit small businesses and help with their decor. they have those special of the day chalkboards at cafe's ... who decorates those with the stylish cursive lettering? someone's getting paid for it... \n\nI'm just making these examples up off the top of my head. but I think someone with any degree of art talent can do something along these lines to earn a lot of income. \n\nonce you earn more income, start aggressively paying down the debts. keep your expenses low and just kick those loans in the butt. suppose you can devote $2k to loans ... that's just over a 3 year plan. light at the end of the tunnel. " User (number34): "Those are great examples, and some of the stuff I've been doing the past year. I still make about $1000/a month from various art things and still get freelance illustration clients. I was making a real go at doing it full-time the past year but wasn't able to make a livable consistent income in that time, despite pursuing many different avenues. So I lucked out and found a full-time design position in the tiny town I live. But I still very much plan on pursuing my freelance and art gig on the side, and hopefully can anticipate an additional $1000 a month on average from it. \n\nWhen you say devote 2k towards loans... do you mean a month?"
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: "You need to view all of this debt as an emergency. Whether you pay your mom back is a personal choice, but would assume you are.\n\nCan you try to refinance any of these loans for a lower interest rate?\n\nI think it would benefit you to have another source of income with your high debt/income ratio- can you set up an Etsy shop with your art? Uber driver? \n\nMake a budget and keep living like a poor student.\n\nWould recommend the Dave Ramsey snowball method for attacking student loans." User (number34): "Thanks, I'll look into all of this. I have an Etsy shop, and also do freelance on the side. It's an additional $500-1000 a month but obviously not consistent. I live in a town of 6000 so a lot of the side hustle sharing economy things aren't an option, but I house/pet sit when I can. " Dinner_in_a_pumpkin (Dinner_in_a_pumpkin): "Is commuting to a nearby bigger city an option? If you can face paint, make a face painting business for kids birthday parties. Can you teach evening classes to homeschooled kids? It might be worth it to move halfway in between your town and a bigger city, or just move to a bigger city." User (number34): "Yeah those are all options. Commissioned illustration has been the biggest, most significant money maker for me so I was planning on continuing to pursue that on the side, especially as it costs nearly nothing and has the biggest pay out. Moving far unfortunately isn't an option as I have some elder family members here, but there may be other things in the area I can be more creative/resourceful about. " Limond (Limond): "I heard furry artists do quite well for themselves. Be brave if you dive down that rabbit hole."
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: ">The loans in her name are consolidated at 8% and I pay $215 a month towards them\n\nYou got to think long and hard about this. These are not your loans. Unless you specifically agreed to pay these back, I would not feel obligated to help pay them." Desblade101 (Desblade101): "That's a discussion he should have with his mother, who probably is in an equally bad financial place and was just trying to help her kid follow his dreams. I can't imagine a situation where he doesn't pay those loans and still has a good relationship with his mom. " User (number34): "Pretty much this. In retrospect, I should've realized what it meant to take these loans out, but my understanding wasn't clear and I don't think hers was either.\n\nShe just declared bankruptcy a few years ago and is climbing back into a more financial stable situation. We're both idiots when it comes to money but I didn't realize how illiterate she also was until it was too late and I had already taken her advice. \n\nThat said, I don't see having a relationship with my mother without paying these down. " DrPayItBack (DrPayItBack): "A debt to income ratio of 2:1 isn't great but it's doable. Your post-federal-tax income should be about $36,800 (dunno your state taxes). If you can pay $1000 a month ($12,000 a year) you can pay it off in less than 10 years. People live on $20,000. Not well, but not always in squalor (especially if doing this allows you to keep a good relationship with your parents/family and potentially save on some other expenses). You'll have to do everything you can to minimize housing and food expenses, but it's possible. This also assumes no pay increases, which hopefully you can achieve over the course of your career." User (number34): "This gives me so much hope! I've been living on LESS THAN 20k! 10 years seems like the light at the end of the tunnel. I anticipate some pay increases, and I still have an approximate income of $500-1000 a month from art/freelance work.\n\nThanks for the input! " greenteanyc (greenteanyc): "Your situation isn’t ideal, but it’s not necessarily disastrous!\n\nI would recommend googling “paycheck calculator [your state]” to get a good estimate of how much money you can expect to take home after taxes, and then build a budget based on your current expenses. Don’t forgot to account for the taxes you’ll need to pay on your freelance work! \n\nThen, go to unbury.us and put in the exact numbers on all the loans you’re responsible for. This will help you build a strategy for how to use the money not taken up by taxes or living expenses- read up on the “avalanche” vs. “snowball” method. Usually it’s better mathematically to put the most money towards the highest interest loan; realistically, however, it can be more psychologically motivating (and give you more flexibility in your budget) if you pay off smaller loans first and then are able to put the money for that minimum payment towards other loans.\n\nGood luck!" User (number34): "Thanks for these resource links. I'll be looking into them tomorrow."
User (number34): "First off, thanks in advance. I see a lot of folks in similar circumstance post here and get great, solid, actionable advice. I've tried to absorb as much of that as I can, but wondering if there is something else I'm missing. \n\nI went to school for painting. It seemed like a good idea at the time. By the time I graduated, I had $80,000 in loans. I didn't realize it was so high until I looked into it after I received my degree. I also didn't realize that art wasn't just a low-paying industry, but how completely stacked the odds are against you of actually making it work. They don't tell you that in art school. Years after graduating, I started seeing all of my art school friends inherit large sums of money and then it clicked for me - fine art is unfortunately mostly reserved for the wealthier classes. \n\nI spent most of my years after college working various odd jobs while trying to make in roads into a career as an artist. It never took off as I wanted and needed it to, and that's ok. About a year ago I pivoted my career and taught myself graphic and web design.\n\nI just got a full-time job starting at $40,000 as an in-house graphic designer. \n\nI've been paying the minimum amount on my loans to not default but it's just been towards the interest. My mom, also not having a good grasp on finance, insisted I take out a parent PLUS loan through her in order to do study aboard while I was in college “to follow my dreams”. [If I could turn back time!](https://www.youtube.com/watch?v=BsKbwR7WXN4)\n\nI have $50,000 in federal loans in my name and $30,000 in loans in her name. The loans in her name are consolidated at 8% and I pay $215 a month towards them, but again this is just covering the interest. \n\nThe loans in my name are not consolidated yet, but I will be paying $275 a month towards them once I start this job on an income based repayment plan. The rates vary from 3% to 6%\n\nThat's about $500 a month towards the loans, but with most of that going to interest. I've been broke for a long time, and know how to live broke so I feel capable of making high payments towards the loans, but I'd like it to at least be productive. \n\nThis seems both high and unproductive. \n\nIs there anything I can do? Thanks in advance.\n\nEdit: Thanks for the thoughtful feedback everyone!" Self: "A few things:\n\n1. You should definitely plan on enrolling in an Income Based repayment program for your federal loans. That will help a lot in terms of controlling cost. You mentioned that you will be paying $275 towards these federal loans. Where does that number come from? Online calculators for [REPAYE](https://studentloanhero.com/calculators/student-loan-revised-pay-as-you-earn-calculator/) and [PAYE](https://studentloanhero.com/calculators/pay-as-you-earn-calculator/) (two income based repayments programs for federal loans) show that your monthly payment would be $183. Depending on your expenses, that extra $100 could really help. You can always pay more than the income-based payment, but being able to pay less when money is tight can be lifesaving. If you lose your job or have an extremely limited income, REPAYE and PAYE can be the difference between financial ruin and the ability to pick yourself back up, since they both allow your monthly payment to decrease down to $0 if your income drops low enough. These programs are essentially a financial safety net, so enrolling is almost always a good idea, even if you want to aggressively pay off your loan. \n2. REPAYE vs PAYE. These are two income based repayment programs and determining the optimal one for you depends on a few things. REPAYE is really nice for people with all undergrad loans (sound like you) and high debt to income ratios since REPAYE covers 50-100% of the interest if your monthly payment does not cover all of the interest. This can be really helpful in stemming your loan amount from ballooning during periods when your income is low. The only drawback of REPAYE vs PAYE, is that REPAYE does not cap your payment amount, meaning that it could rise above the standard 10 year repayment amount if your income was to increase substantially. PAYE caps your payment as the 10 year repayment amount, so your payment will never be higher than the standard repayment amount. If you don't anticipate your income increasing substantially, REPAYE is usually the better choice. \n3. Although it might be tempting to start aggressively paying down these loans, if you do not have a financial cushion (e.g. 6 month emergency fund), paying the lower income-based payment amount and putting the leftover money into savings might be the smarter move. Once you have that cushion and other financial bases covered, then you can look into more aggressively paying down the loans. REPAYE has really favorable terms for controlling interest and if you were to lose your job or have a big financial setback, REPAYE/PAYE will be there to shield you from financial ruin on the repayment front. Nobody will be there to give you money for living or other expenses. \n4. As other have said, you should consider whether you really need to be paying the loan in your mother's name. Financially speaking, you do not have to pay it and not paying it will not have any financial consequences for you. Only you know your personal/family situation though. \n5. Whether it's you or your mother who ends up financially responsible for the loan, you should look into enrolling in Income Contingent Repayment (ICR). Parent PLUS loans are not eligible for the more generous income based repayment programs (i.e. IBR, REPAYE, PAYE), but they are eligible for ICR. Since your mom is the borrower, the ICR payment will be based on your mom's income. If your mom has a small income, this could help decrease the payment, potentially making it more manageable for you or your mom. \n6. BREATHE. You sound like you are in a better position than you think you are. $80,000 sounds really unmanageable, but you have federal loans (i.e. the best type of loans) and income-based repayment can make even the most astronomical loan amounts manageable. You have a pretty nice paying job, and the fact that you have been surviving on half your expected income means you totally have the financial skills to manage these loans. " User (number34): "Thanks for the thorough, thoughtful reply!\nI'm currently enrolled in the income based repayment program. I used their calculator to figure what my payment would be after my new income, but it's likely I entered the wrong number somewhere. \n\nI think I'm going to start seriously tackling this spring of next year, and in the meantime save an emergency fund as you said.\n\nAs for the loans in my mom's name - she has offered to match whatever I can put in towards them which is great news. \n\nAs for #8 -- thanks for the reminder! As I've said I've never made this much so its largely a relief to be able to make meaningful progress on the loans, but yes-- also a bit scary when my partner and I want to get married, buy a home, all that normal good stuff. But yes, I'll figure it out and there is the silver lining in being poor for so long that you become very resourceful.\n\nThanks again! Have a good week. " Self: "No problem!\n\nOne quick thought since you mentioned getting married. Not sure which income based repayment program you are enrolled in right now (and you are allowed to switch programs!), but REPAYE and PAYE treat married income differently. REPAYE uses entire household income to calculate the payment for married borrowers, regardless of how you file taxes (i.e. married filing jointly vs separately). PAYE, on the other hand, has a sort of marriage loophole. If you enroll in PAYE and file taxes separately (i.e. married filing separately), PAYE uses only your income to calculate payments.\n\nThis might not be an important point if your partner has a limited income or if your combined income will be more than enough to cover the increased payment. But, it's an important consideration for some people, especially if a spouse's income would raise the payment significantly." User (number34): "Oh! Thanks for bringing this up -- I wasn't familiar with this. We'll keep it in mind going forward."
User (zhyatt): "This may be a dumb question, but please bare with me. \n\nI’ll use some round numbers for this example. I was planning on converting my Chase Total Checking and Savings accounts to the Premier level to earn more interest now that I’ve built up a decent balance where I wouldn’t ever get dinged by the daily minimums. I had also pocketed away a smaller amount at Ally based on their high interest rate. \n\nBut then I did the math. \n\nOption A) Keep 10K in Chase Premier at .01%, 15K in Chase Premiere at .04% and 5K at Ally at 1.85%. Continue to contribute roughly 1400/month to Ally savings. \n\nOption B is keep the 10K checking in my original Chase Total Checking at no interest (which is roughly my 2 months budget if I suddenly make no income and lose my subletter), but put all 20K into Ally savings, plus the 1400/month. Without a linked savings account or mortgage, I could not bump the Checking on its own to Premier. \n\nI am terrible at math, so maybe I didn’t use the interest calculators correctly, but even after 1 year, Option B saves me more money, correct? Is there any reason NOT to move the entire amount of my savings to one high yield account?\n\nPlease keep in mind I am not solely relying on the savings accounts. I have a pension building from my original union career, a 401K I max out at my new job with the option to buy stock at a 15% discount, and a small amount invested in stocks. I am putting other leftover savings toward all those areas, but for the time being, am able to funnel that 1400/month to build up my emergency fund. I work in the TV industry, so the pay is high, but so is the turnover. \n\nI THINK Option B makes the most sense, but is there anything I’m overlooking? " Self: "Keep ind mind you need to keep your "average daily balance" above a certain threshold to not pay the fees. if you leave 10k, pay a $10 bill one day and the balance goes to 9990, then add $10 the next day and do nothing else you would still be charged a fee. (also i think it is 15k not 10k - maybe this is different per state).\n\nI wouldnt bother if you are not using any benefits of premier such as free checks, waived ATM fees and stuff like that " User (zhyatt): "I believe it was 15K daily balance in savings, and 15K balance between checking and linked savings, but sounds like it’s a moot point!\n\nI intend to leave a solid buffer beyond the round numbers, butt thanks for the reminder!"
User (zhyatt): "This may be a dumb question, but please bare with me. \n\nI’ll use some round numbers for this example. I was planning on converting my Chase Total Checking and Savings accounts to the Premier level to earn more interest now that I’ve built up a decent balance where I wouldn’t ever get dinged by the daily minimums. I had also pocketed away a smaller amount at Ally based on their high interest rate. \n\nBut then I did the math. \n\nOption A) Keep 10K in Chase Premier at .01%, 15K in Chase Premiere at .04% and 5K at Ally at 1.85%. Continue to contribute roughly 1400/month to Ally savings. \n\nOption B is keep the 10K checking in my original Chase Total Checking at no interest (which is roughly my 2 months budget if I suddenly make no income and lose my subletter), but put all 20K into Ally savings, plus the 1400/month. Without a linked savings account or mortgage, I could not bump the Checking on its own to Premier. \n\nI am terrible at math, so maybe I didn’t use the interest calculators correctly, but even after 1 year, Option B saves me more money, correct? Is there any reason NOT to move the entire amount of my savings to one high yield account?\n\nPlease keep in mind I am not solely relying on the savings accounts. I have a pension building from my original union career, a 401K I max out at my new job with the option to buy stock at a 15% discount, and a small amount invested in stocks. I am putting other leftover savings toward all those areas, but for the time being, am able to funnel that 1400/month to build up my emergency fund. I work in the TV industry, so the pay is high, but so is the turnover. \n\nI THINK Option B makes the most sense, but is there anything I’m overlooking? " Self: "Move as much as you can to high yield. The chase premier is garbage compared to 1.85%, you are missing out on hundreds in interest. It takes a day or three to move money if you ever need it.\n\nWhat if you open up an ally checking account? You can move money between savings and checking instantly. That way you can keep a really low checking balance and transfer when needed." User (zhyatt): "Thank you! Sounds like Option B it is...\n\nI hadn’t considered moving the checking, too. Mainly the convenience factor of having the brick and mortar bank and ATMs when I needed it. I’ll have to look into it more and see if I’m just holding on for no practical reason. " SoggyMcmufffinns (SoggyMcmufffinns): "How often do you actually use a brick and mortar building? For most, it isn't too often. Ally also has a fairly extensive network with ATM reimbursements from out of network anyhow. Fine to have both, but I see no reason to not have a checkings with them anyhow as it's fee free and more convenient to have your money instantly anyhow."
User (zhyatt): "This may be a dumb question, but please bare with me. \n\nI’ll use some round numbers for this example. I was planning on converting my Chase Total Checking and Savings accounts to the Premier level to earn more interest now that I’ve built up a decent balance where I wouldn’t ever get dinged by the daily minimums. I had also pocketed away a smaller amount at Ally based on their high interest rate. \n\nBut then I did the math. \n\nOption A) Keep 10K in Chase Premier at .01%, 15K in Chase Premiere at .04% and 5K at Ally at 1.85%. Continue to contribute roughly 1400/month to Ally savings. \n\nOption B is keep the 10K checking in my original Chase Total Checking at no interest (which is roughly my 2 months budget if I suddenly make no income and lose my subletter), but put all 20K into Ally savings, plus the 1400/month. Without a linked savings account or mortgage, I could not bump the Checking on its own to Premier. \n\nI am terrible at math, so maybe I didn’t use the interest calculators correctly, but even after 1 year, Option B saves me more money, correct? Is there any reason NOT to move the entire amount of my savings to one high yield account?\n\nPlease keep in mind I am not solely relying on the savings accounts. I have a pension building from my original union career, a 401K I max out at my new job with the option to buy stock at a 15% discount, and a small amount invested in stocks. I am putting other leftover savings toward all those areas, but for the time being, am able to funnel that 1400/month to build up my emergency fund. I work in the TV industry, so the pay is high, but so is the turnover. \n\nI THINK Option B makes the most sense, but is there anything I’m overlooking? " Self: "Edit: Realized Chase probably charges fees just to own an account with them. Not used to that. Since they charge a fee, I guess keep whatever is enough to avoid it and rest in Ally HYSA.The math is going to go like this. Whatever the highest interest rate is (Ally) keep most of your money there. In fact, (considering Chase isn't really giving you hardly anything at all anyhow) I'd recommend no more than 1-1.5 months expenses in a checkings and the rest in a HPY savings like Ally. No reason to have more than that for most people anyhow and the math just favors the highest interest account." User (zhyatt): "No daily fees with my direct deposit. But point still stands.... I’ll be moving the Chase savings with the rest I’ve already moved to Ally. Thanks!"
User (zhyatt): "This may be a dumb question, but please bare with me. \n\nI’ll use some round numbers for this example. I was planning on converting my Chase Total Checking and Savings accounts to the Premier level to earn more interest now that I’ve built up a decent balance where I wouldn’t ever get dinged by the daily minimums. I had also pocketed away a smaller amount at Ally based on their high interest rate. \n\nBut then I did the math. \n\nOption A) Keep 10K in Chase Premier at .01%, 15K in Chase Premiere at .04% and 5K at Ally at 1.85%. Continue to contribute roughly 1400/month to Ally savings. \n\nOption B is keep the 10K checking in my original Chase Total Checking at no interest (which is roughly my 2 months budget if I suddenly make no income and lose my subletter), but put all 20K into Ally savings, plus the 1400/month. Without a linked savings account or mortgage, I could not bump the Checking on its own to Premier. \n\nI am terrible at math, so maybe I didn’t use the interest calculators correctly, but even after 1 year, Option B saves me more money, correct? Is there any reason NOT to move the entire amount of my savings to one high yield account?\n\nPlease keep in mind I am not solely relying on the savings accounts. I have a pension building from my original union career, a 401K I max out at my new job with the option to buy stock at a 15% discount, and a small amount invested in stocks. I am putting other leftover savings toward all those areas, but for the time being, am able to funnel that 1400/month to build up my emergency fund. I work in the TV industry, so the pay is high, but so is the turnover. \n\nI THINK Option B makes the most sense, but is there anything I’m overlooking? " Self: "Chase interest rates are abysmal even at the premier level -- you would do better to move as much as possible to higher yield accounts. Note that you can do a bit better than 1.85% -- see https://www.doctorofcredit.com/high-interest-savings-to-get/ for an extensive list." bmwkbiker (bmwkbiker): "Agreed, \n\nChase doesn't pay you to hold your money 0.01% is essentially zero. To add insult to that 15k minimum balance to avoid fees is very high. (Full disclosure: I bank with Chase, only keep enough there to avoid the fees). Other banks have much lower minimums, as already posted if you don't need local branch access online banks offer much better terms. "
User (PeachyPie62): "I live out of state (FL) and I recently have sold a house without a realtor, it's waiting on a pending my buyer's house appraisal and pest inspection, but after that, it will be closed on through my lawyer's office that I have filled out all paperwork while on a recent visit. I also filled out POA for my lawyer to take care of the rest at the closing and send me the proceeds. I'm a little nervous about all the wire transfer problems, should I just have it sent overnight by bank check for safety reasons. I know when I bought the house I have here in FL I had to have all the proceeds wired to the title company to process the purchase of my home and that was fine...… any thoughts????" Self: "Wiring is safe. If buyer gets scammed and wires funds to a scammer you keep the house.\n\nIf your lawyer runs off with the proceeds that would be your risk "
User (PeachyPie62): "I live out of state (FL) and I recently have sold a house without a realtor, it's waiting on a pending my buyer's house appraisal and pest inspection, but after that, it will be closed on through my lawyer's office that I have filled out all paperwork while on a recent visit. I also filled out POA for my lawyer to take care of the rest at the closing and send me the proceeds. I'm a little nervous about all the wire transfer problems, should I just have it sent overnight by bank check for safety reasons. I know when I bought the house I have here in FL I had to have all the proceeds wired to the title company to process the purchase of my home and that was fine...… any thoughts????" Self: "Won't the buyer's title company wire the funds to you?"
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Have you thought about looking for a full-time job to replace the one you have currently but being honest about your plans to go to school? The idea here would be that you'd be looking to go part-time once school started. A certain kind of employer would find this very attractive because you should really learn their system while you were full-time and then when you went part-time you would be more valuable. This is one way to locate a work environment that is more high functioning. Go out and honestly present yourself as trying to accomplish what you are in fact trying to do. Putting that kind of energy out there during the job search process can really help you locate better functioning places.\n\nAs far as the budget is concerned the reality is you need to find a way to pay off that credit card debt before you go back to school. If it means toughing out the toxic situation that you're in plus adding a side gig plus eating rice and beans, well my advice would be to do it. \nJust my two cents. Best of luck to you. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " User (Taesuyo): "My apologies for the formatting, as I’m on mobile. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Have you thought about looking for a full-time job to replace the one you have currently but being honest about your plans to go to school? The idea here would be that you'd be looking to go part-time once school started. A certain kind of employer would find this very attractive because you should really learn their system while you were full-time and then when you went part-time you would be more valuable. This is one way to locate a work environment that is more high functioning. Go out and honestly present yourself as trying to accomplish what you are in fact trying to do. Putting that kind of energy out there during the job search process can really help you locate better functioning places.\n\nAs far as the budget is concerned the reality is you need to find a way to pay off that credit card debt before you go back to school. If it means toughing out the toxic situation that you're in plus adding a side gig plus eating rice and beans, well my advice would be to do it. \nJust my two cents. Best of luck to you. " User (Taesuyo): "Thank you for your advice. My credit card debt is definitely my biggest concern at this moment. The good thing about going to school, is it should bring in a decent amount of money monthly that I can pocket, since I have my Post 9/11 GI bill and my fathers disabled veteran stipend. So in theory, I shouldn’t go into debt from college, as the school I plan to go to isn’t terribly expensive for in state students. " Self: "That is a bright spot in your situation. I feel for you. Toxic environments can be really hard on you and sometimes you don't even know the half of it until you're finally out of it." User (Taesuyo): "It’s genuinely rough. There’s a constant feeling of dread that lingers around in anticipation of going to work, and while i’m at work. I’m applying around just to see what options will be available to me, and i’m hoping it’s soon that I hear back from something suitable. Thank you for your support. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Have you thought about looking for a full-time job to replace the one you have currently but being honest about your plans to go to school? The idea here would be that you'd be looking to go part-time once school started. A certain kind of employer would find this very attractive because you should really learn their system while you were full-time and then when you went part-time you would be more valuable. This is one way to locate a work environment that is more high functioning. Go out and honestly present yourself as trying to accomplish what you are in fact trying to do. Putting that kind of energy out there during the job search process can really help you locate better functioning places.\n\nAs far as the budget is concerned the reality is you need to find a way to pay off that credit card debt before you go back to school. If it means toughing out the toxic situation that you're in plus adding a side gig plus eating rice and beans, well my advice would be to do it. \nJust my two cents. Best of luck to you. " User (Taesuyo): "Thank you for your advice. My credit card debt is definitely my biggest concern at this moment. The good thing about going to school, is it should bring in a decent amount of money monthly that I can pocket, since I have my Post 9/11 GI bill and my fathers disabled veteran stipend. So in theory, I shouldn’t go into debt from college, as the school I plan to go to isn’t terribly expensive for in state students. " jasdonle (jasdonle): "When you start school, what will your monthly income be (broken out into individual sources)?\n\nI posted above, but this will be helpful to know." User (Taesuyo): "Quite honestly, i’m not sure. I’ll be doing a catering job part time (~20hr a week, $15/hr) and i’ll try to find something else. The exact number i’ll have from the gi bill and stipend after school costs i’m not sure of" jasdonle (jasdonle): "What about the $900 stipend? " User (Taesuyo): "I know that’s guaranteed already, forgot to add it in. my bad " jasdonle (jasdonle): "Cool. And is the catering job a lock? It's 100%? " User (Taesuyo): "It’s a guarantee that I have it, and guaranteed one day a week, if i do two depends on if i grab the second one or if we have a second one. " jasdonle (jasdonle): "Cool. I'm going to post a whole new comment. " User (Taesuyo): "Perfect, thank you so much, again. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Good for you for planning ahead and asking for help. Some more info is needed. \n\nHere are some thoughts off the top of my head. \n\n* You seem to be leaving out a lot of expenses. What else is there? Internet bill? Water/power? Gas? Entertainment? Toiletries? Clothing? Incidentals? \n* Question: In the spring, what will your monthly income be? I understand you receive a $900/mo stipend, but will you be working at the same time? \n* You are definitely overpaying for your phone (unlimited plans can be easily found now for $50/month, but you should try to shave even a bit off of that. Try [WhistleOut](https://www.whistleout.com) to compare plans. \n* Question: What kind of phone do you have and do you own it outright, or are you still making payments. \n* I would also say that your $300/mo car note is much too high. What kind of car do you have? \n* \~100/mo for food seems very low IMO. Food is very often underestimated. \n\nHave you been tracking your spending leading up to this as a benchmark? Can you pull up your average monthly food expenses to take a look? " User (Taesuyo): "My food expenses are low as I don’t eat much, and i try to spend frugally where I can. I try to purchase cheap and nutrient foods (beans and rice are my go to)\n\nMy car is a 2011 audi a4 quattro I had started financing in the service, $12,000 before interest. \n\nI don’t own my phone outright. It’s an IphoneX that i’m laying off along with my phone bill, that’s why it’s so high (unlimited plan + new phone)\n\nAnd i answered your question for income in another comment. \n\nThank you for taking the time to answer, it’s greatly appreciated. \n\n" Self: "You're welcome!\n\nYou didn't answer the question about if you've been tracking your spending — have you? It's important to work from real world numbers.\n\nAlso, what about the other stuff in your budget? Clothing, toiletries, medication, entertainment. That's money you will spend, we all do, so you really need to include it in your budget for it to be realistic.\n\nThree questions:\n\n1. How much do you owe on the car?\n2. How much do you owe on the credit card(s)?\n3. Any other loans out there?\n\n&#x200B;" User (Taesuyo): "I only have one credit card and I have the $9500 to pay on that. My car I still have $11,000 on. No other loans. \n\nAnd i haven’t budgeted with a schedule in the past, i just watch my spending. I don’t buy any new clothes as I have plenty, and I have my laptop for school already paid off and use my brothers netflix. For toiletries I’d say I spend probably $20 every few months for deodorant and toothpaste and then I buy a new toothbrush every other month. For entertainment I stay in as much as possible as I actively try to avoid crowds, so i’ll watch netflix or play video games. " Self: "I've learned that without actual numbers, making ends meet is very difficult. It's like being in the middle of the ocean on a sailboat with no map or radar. Sure, I can fish for food and sail around as long as I please — I'll survive. But I'll never get where I'm going (financial solvency). \n\nTo actually get there, I need accurate maps and radar systems. That's a budget. Once I started keeping one, I was surprised at where my money was going (something that is echoed by virtually everyone in all of history who started tracking their numbers). \n\nMaking ends meet is a good short term goal, but I fear you'll only find frustration if you don't accurately keep a record of your spending. " User (Taesuyo): "I’ll definitely be sure to start marking where every cent is going then. Thank you so much. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Based on reading your responses in this thread, I think you would really, really benefit from Dave Ramsey's Total Money Makeover program. His book "[Total Money Makeover](https://www.amazon.com/Total-Money-Makeover-Financial-Fitness/dp/0785289089/ref=sr_1_5?s=books&ie=UTF8&qid=1538352663&sr=1-5&keywords=total+money+makeover)" would be a great place to start, and his podcasts, which are updated daily. His program absolutely changed my financial life, and I can't recommend it enough. I've found /r/DaveRamsey to be just as helpful as /r/personalfinance, if not more so.\n\nI think Dave would say (don't shoot the messenger), you are really overspending. For someone taking home 33k a year, 10k in debt, to be leasing a $1,000+ phone and owning a German-made car (very high upkeep expenses)... It just doesn't make sense. And now you're going back to school, so your income may be going down. I have alarm bells going off for you, bud. This could get ugly real fast.\n\nAt least you have the beans and rice right, so that's a start! :)\n\nThe best advice I can give you is to get Total Money Makeover from the library (physical or audio), and start the program ASAP. It'll force you to confront the reality of your finances, help you get out of debt and get your spending in line.\n\nHope that helps.\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" User (Taesuyo): "I’ll definitely check it out. Thank you for helping me with the reality check. "
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Have you considered employment with the federal government? Veterans get priority over non-vets in hiring and there are even positions available through the "[Pathways](https://www.usajobs.gov/Search/?k=pathways&p=1)" Program that are specifically for students to work part-time until they graduate, at which time there is the potential to be converted into a full-time permanent employee. There are tons of different options (engineering, education, administration) and it's a great way to have a flexible job while still in school. A coworker of mine was in this program and just got converted to a permanent position in the last couple months, plus he's even been able to go back to school for an advanced degree and work part-time still on weekends. " User (Taesuyo): "Does pathways work for those who aren’t in college yet? I was looking for something full time at the moment that can transfer to part time later, but I know that is a lot to ask. " Self: "Ah no, I think you have to be in college for it (granted I'm not an expert so I could be wrong!). I'm not sure if that would be doable in any of the positions I know of, but this is definitely something to keep in your back pocket for later! Seriously, the federal government really tries to help vets get jobs, so check out [USAJobs.gov](https://USAJobs.gov) once you're in school and look at the Pathways positions. There are also "recent graduate" positions if you've graduated within the last two years. And of course just regular positions that you can apply for. Your status as a vet means that if you have the basic qualifications/experience for the job, you and other vets will be the first people looked at to fill the position. Also, if you're trying to get your Bachelor's degree, once you have your degree you will qualify for most GS-05 positions in your field (typically paying about $16/hr). But your experience as an office manager may help you qualify for even better positions.\n\nI will say, wildland fire positions are hard manual labor, but they can pay really well during fire season! That would be another great option if you don't mind that kind of work." User (Taesuyo): "would I have to relocate for that? I’m in louisiana, it’s always sad and wet here haha. But i remember hearing about that website when I was clearing, I never thought i’d actually use it. " Self: "For wildland fire? Potentially, there's tons of jobs out west. But in general, no. You can search on that website for jobs specific to your state or city. However, if you're willing to relocate, the world is your oyster ;) I'm currently in Colorado for a seasonal job (actually went to school in Louisiana!) and who knows where I'll be in the future!!" User (Taesuyo): "I’ve actually never thought about traveling for a job outside of the Army. I may have to see what all it includes but moving around a lot seems fun" Self: "It can get old but a lot of people enjoy it for a couple years as a way to see different places. I work seasonally for the National Park Service. It's pretty rewarding, but you definitely have to be independent. Some places you go and you'll make really good friends, some places not so much. This summer has been more of the latter for me, but I'm able to adjust pretty well and since it's seasonal, you know eventually you'll move on to something else. My current situation is that I'm moving back in with my parents and working a part time job for the winter, then I can be rehired at my current position next summer. So yeah, if you're interested in seeing different parts of the country and can handle the occasional loneliness that accompanies it, it's not bad. Plus, the pay is pretty OK. The other nice thing is if you have 1 year of experience at a specific GS-level, you can start applying for the next higher one; e.g. I had two years of experience equivalent to GS-05 so I was able to get a GS-06. If I work this same job next season, I'll be able to apply to GS-07s." User (Taesuyo): "So you’re pretty accustomed to government working then? Or at least in your line of work? " Self: "I had 2 years of internships at a national park followed by this position. So haven't been employed by the gov't for that long but been surrounded by it and working toward a career in it for 2.5 years. Not sure if I'll stick with it because I'm young and still figuring out what the heck I want to do with my life, but for now it's a pretty good gig (especially if my parents continue to house me in the off season)."
User (Taesuyo): "I’m a 22 year old veteran, I’ve gotten out of the U.S. Army back in March. I was an infantry paratrooper so my job from the Army doesn’t really pertain to the civilian side. I’m currently working in a medical office making $17/hr as the office manager, working full time. However, due to the extremely poor work environment, and the lack of professionalism (from the Dr. and staff), I think it would be best for me to start looking for a new job. My issue with this, is that I am trying to start school in the spring. I’m in the Baton Route area. \n\nMy current budget is as follows:\n$534 Rent\n$300 car note\n$330 insurance (full coverage bc financing, will decrease in cost in this coming March)\n$90 phone\n$200 credit card payments\n~$100 groceries(could probably be more frugal with this)\n\nI’m currently bringing home around $2500-$3100 a month depending on overtime, and how much I’m working. \n\nI do not have any savings as i’ve been trying to pay off my credit card as fast as possible. (~$9,500 in debt, stupid spending as a kid in the military)\n\nShould I look for a new job for quality of life\nimprovements, or should I try to tough it out until the spring and use my GI bill money towards my bills. My dad is also a combat veteran, who was injured in the line of duty. Due to that, I get a $900 a month stipend when school starts. Louisiana has a tuition assistance program that freezes if you go into the military, and due to my ACT scores, most of my bills from college will be paid with that. \n\nMy current job I have is quite miserable, even compared to the Army(lol), and I don’t think i’ll be able to make it another three months until the Spring semester starts. \n\nAny advice would be greatly appreciated on how I should go about this. " Self: "Have you thought about looking for a full-time job to replace the one you have currently but being honest about your plans to go to school? The idea here would be that you'd be looking to go part-time once school started. A certain kind of employer would find this very attractive because you should really learn their system while you were full-time and then when you went part-time you would be more valuable. This is one way to locate a work environment that is more high functioning. Go out and honestly present yourself as trying to accomplish what you are in fact trying to do. Putting that kind of energy out there during the job search process can really help you locate better functioning places.\n\nAs far as the budget is concerned the reality is you need to find a way to pay off that credit card debt before you go back to school. If it means toughing out the toxic situation that you're in plus adding a side gig plus eating rice and beans, well my advice would be to do it. \nJust my two cents. Best of luck to you. " User (Taesuyo): "Thank you for your advice. My credit card debt is definitely my biggest concern at this moment. The good thing about going to school, is it should bring in a decent amount of money monthly that I can pocket, since I have my Post 9/11 GI bill and my fathers disabled veteran stipend. So in theory, I shouldn’t go into debt from college, as the school I plan to go to isn’t terribly expensive for in state students. " SCOveterandretired (SCOveterandretired): "If you are talking about DEA Chapter 35 you could receive because you father is 100% VA disability rating, you can't use that at the same time you use your Post 9/11 GI Bill. Federal law prevents VA from paying you both at the same time. " User (Taesuyo): "I’m gonna use his GI bill just bc it’s in my name. He never used his as he was a career soldier " SCOveterandretired (SCOveterandretired): "You would not be using his GI bill. DEA has nothing to do with GI Bill. DEA is strictly based on the veteran having a 100% VA rating. I've had many veterans attend college and use up all of their GI Bill but because of the 100% rating, the spouse and all children receive DEA.\n\nDEA pays $1224.00 per month, not sure where you are getting the $900.00 from. DEA only pays money to the student. DEA pays nothing to the school. https://www.benefits.va.gov/GIBILL/resources/benefits_resources/rates/ch35/ch35rates100118.asp\n\nSo you could use those 36 months of DEA and then your 36 months of GI Bill."
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "Income? Debt? Education? Location?" User (walkerws): "$24 per hour. I worked for this company before and net income before was before 75-80k. I am not sure what the total income from the ride-sharing and delivery jobs will be. Possibly 1k profit? Again, I am taking out 60 percent to cover taxes and expenses. Wife has a small, not yet profitable, home business.\n\n56k in debt from some credit card debt, medical debt, a car. 26k of it is the wife's school loans.\n\nNo college education. \n\nLive in Canton OH, work in West Texas. We are possibly looking at moving to Winston Salem NC in the spring since I can live anywhere I want with this job. "
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "I've known a lot of guys who work similar schedules. it's very, very common for them to think "I work hard for 7 days straight, so I'm gonna have fun when I get my 4 days off!" lots of entitlement thinking and overspending. beware falling into those attitudes or habits..\n\ngiven the $56k in debts, you really don't have the money for massive luxuries at this point. you ought to be scheduling a day or two for something fun with the family, then working a regular shift the other days during the off-week from the full time job. \n" User (walkerws): "Agreed on your first paragraph. \n\nAs far as the luxuries, we budget 75 for dining out, some money for wine, but not too much else. \nWe almost have an emergency fund in place, as well as sinking funds for auto maintenance, medical, etc. This is to prevent us from going further into debt. We also started YNAB and we are doing extremely well in paying down debt.\n\n\nI fully intend on working, I already am in fact. I just don't know what other jobs may provide a schedule that would allow me to work for my two weeks off. "
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "Look here for the threads with thousands of ideas. Spend a bunch of time going through this info and take notes as you go along. Good luck!\n\n[reddit.com/r/personalfinance/wiki/sideincome](https://np.reddit.com/r/personalfinance/wiki/sideincome)" User (walkerws): "Thanks. I'll check it out!"
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "Reselling things on ebay would be pretty good for you I bet. " User (walkerws): "So buying things cheap and flipping them?" Self: "Yes. \n\nThrifts and yard sales are good. \n\nIf you have a hobby, usually there’s a market for flippers. \n\nStarted with used video games. \n\n\n"
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "Do you need to work? Could relax and enjoy your 2 weeks of in between working. " User (walkerws): "I most certainly could. I am one of those people who has to be doing something though. We are also trying to clear debt. Our current plan has us debt free by the end of 2022. We then want to save up for a cash down payment on a house. I only need to make another 12k a year to knock a year off our debt.\n\nI probably spend two-thirds of my time off chillaxing." Self: "If you’re the handy man that I feel like you could be. You could always download the Nextdoor app and see if people need anything done around the house and get paid for it. A lot of times older people find it easy to trust someone who lives in the neighborhood to help out and do tasks around the house that they just can’t do anymore. \n\nThis one guy posted that he would wash and bleach peoples garage container for 20 bucks and 5 bucks extra the recycling container. And in 2 weeks he got 33 people wanting him to come over. This is just one example of stuff I’ve seen people post for work on there. " User (walkerws): "Thanks. I had looked at TaskRabbit before. If I remember correctly they wanted me to pay for something. I will check out Nextdoor." Self: "Yeah nextdoor is also like a neighbor watch type stuff. Where they alert people of spacious activity in the neighborhood or just events going on. So you can post whatever you like without having to worry about paying the app for things. "
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "If your wife is college educated maybe she should be looking for a job to do during your off weeks while you Dad?" User (walkerws): "She has an AA in criminal justice, but she has never been able to use it. Her gig now is a handmade clothing business. She also contracts out her sewing skills to sew some stuff for another small business. She definitely has a market for her stuff, and is getting there."
User (walkerws): "Hey guys.\n\nI am a Field Service Technician and I currently work two weeks on and then two weeks off (14/14). This means I am working about 16 hours per day for 12 of the 14 days. The other two days are about 12-14 hours or travel. \n\nWe are working on paying down debt as fast as possible, but we are not going Dave Ramsey "scorched Earth/beans and rice" intense on it. We are snowballing our debt though. \n\nI have started Uber, Lyft, GrubHub, DoorDash, and Shipt. I automatically pull 30/30/40 percent of my pay from those, taxes,expenses, and profit respectively.\n\nI could possibly earn more doing those things, but I am trying to walk a fine line as far as family time and rest time.\n\nWhat are some suggestions to earn extra money in the two weeks that would allow me to balance work and family?\n\nThanks! I'm a bit of a lurker here, but I have learned so much. " Self: "I work for Wag! on the side but if you don't like dogs or walking I would not recommend it since you will deal with a lot of both 😄\n\nBasically it's Uber for dog walking, so you set your own hours and choose which clients your willing to take. " User (walkerws): "We love puppers, floofs, doggos, shibes, just no birbs or cades.\n\nWe have dogs at home so maybe I will look at that as well. With winter coming up I can only assume the demand will go up as the temp goes down. " Self: "I'm about an hour out of LA and the demand is at it's highest when school has started up again. The first 10 walks and so can be a bit difficult to get since the client's can say no as well, but after that it gets easier and you start getting regulars.\n\n\nSome will be ok with you walking your dog with theirs, but Wag! does not allow double booking so only one client an hour. \nI believe Rover allows this but with (what feels like) an increasing amount of bad PR lately you might have more success with Wag!.\n\nYou have to pay for the background check (20$ IIRC)."
User (brandenleaf7): "I’m going to start streaming and I was wondering what taxes were like on donations, a friend in Canada was going to donate 1k so I can buy a new pc.. would I get the full 1k or would I have to pay tax or what " Self: "You may find these links helpful:\n\n- [Tax Software Megathread](http://redd.it/7r0tvv)\n- [Taxes](/r/personalfinance/wiki/taxes)\n- [Understanding tax brackets](/r/personalfinance/wiki/taxes#wiki_eli5.3A_taxable_income.2C_tax_brackets.2C_marginal_tax_rates)\n- [W-4 IRS Withholding Calculator](http://www.irs.gov/Individuals/IRS-Withholding-Calculator)\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 (brandenleaf7): "I’m going to start streaming and I was wondering what taxes were like on donations, a friend in Canada was going to donate 1k so I can buy a new pc.. would I get the full 1k or would I have to pay tax or what " Self: "I believe it’s either going to be A) loan so you will set up an accounts payable or B) he’s buying into the biz. \n\nMind you this is Sunday funday and I’m drinking watching my team lose. \n\nWhat’s he expecting in return?"
User (brandenleaf7): "I’m going to start streaming and I was wondering what taxes were like on donations, a friend in Canada was going to donate 1k so I can buy a new pc.. would I get the full 1k or would I have to pay tax or what " Self: "You can give no strings attached gifts to people. At some point a gift tax may be relevant but 1k ain’t the time."
User (brandenleaf7): "I’m going to start streaming and I was wondering what taxes were like on donations, a friend in Canada was going to donate 1k so I can buy a new pc.. would I get the full 1k or would I have to pay tax or what " Self: "Gifts under 15k are excluded from taxes (15k is the annual cap per donee). The IRS website has a good FAQ page for this."
User (brandenleaf7): "I’m going to start streaming and I was wondering what taxes were like on donations, a friend in Canada was going to donate 1k so I can buy a new pc.. would I get the full 1k or would I have to pay tax or what " Self: "A gift is not taxable. It's tax fraud to call income a gift, if it's not really. So if they are giving it to you, getting nothing back, that's fine. A donation to a streamer though can be considered income if they are giving it to you because of a service you provide. Yes even if it's freewill. Like tips to a waiter. They are taxable. "
User (csreddit8): "My wife made it into the workforce. Since she got hired a few weeks back, her benefit enrollment period is now through Oct 16. My company's enrollment period starts about a week after hers closes (Oct 22). We have three kids (3, 5, and 13). The 13 year old is my step-son and gets medical coverage through his biological father. I'll try to explain the situation to hopefully come up with some ideas in hopes of coming up with a strategy.\n\n&#x200B;\n\nSome medical background: My wife believes she has early signs of a long term medical problem (MS), but hasn't been officially diagnosed though. We usually max out the out-of-pocket expense with one of our children, year over year. All children are presently heathy, no medications or issues.\n\n&#x200B;\n\nStep-son receives dental and eye insurance through me. Wife uses contact lenses now at her new job. Step-son wear glasses.\n\n&#x200B;\n\nI have VA medical coverage and my family receives some medical benefits (Champ VA) as a result of permanent long term disabilities from my service. All my medical has been covered through VA. For the first time, I have the opportunity to opt-out of company health insurance because my wife will now have coverage. But, I would lose out on the HSA contributions/investments.\n\n&#x200B;\n\nAt my company, we were informed that we would have a benefits marketplace option, and our current medical insurer opted out of the new program. As such, there are some unknowns, mainly costs until the enrollment period opens up.\n\n&#x200B;\n\nAt my wife's company, they provide a free high deductible medical plan which resembles our current medical insurance option.\n\n&#x200B;\n\nI didn't realize how good my company's insurance was until now. Here is a run-down of my options:\n\n&#x200B;\n\nHusband\n\n\---------\n\nVA Medical Coverage\n\nEnrollment period starts Oct 22\n\nCompany is going to offer a health insurance marketplace - UHC will drop out and we will have options of Aetna, Anthem ClueCross, Cigna, or Kaiser\n\nCurrently enrolled family in United Health Care - High Deductible Health Plan w/ HSA (maxed out) - $50 per pay period\n\nCompany HSA contribution $600 (single) /$1,200 (family) if enrolled to High Deductible Plan\n\nHSA contribution - Max\n\nChild Dependent FSA - Max\n\nDental PPO\n\nEye - Currently have EyeMed but will have VSP option with the introduction of the marketplace. Will probably switch to VSP.\n\nBasic, Supplemental, Spouse, Child Life, AD&D, LTD - Enrolled\n\n&#x200B;\n\n&#x200B;\n\nWife\n\n\---------\n\nCurrent enrollment period ends Oct 16\n\nFree High Deductible Plan that covers the family (Cigna)\n\n$750 PPO (Rx Included) - Cigna Medical Option - $200/pay period\n\nAlso has other high-deducible options (Medical Rider,RX Rider, or both) - Confusing for me\n\nDental PPO - cheaper and our dentist accepts it - Switch over to her.\n\nNo HSA (bummer)\n\nBasic, Supplemental, Spouse, Child Life, AD&D, LTD\n\nChild Care/Health FSA available\n\n&#x200B;\n\nI don't want to lose the HSA tax benefit, so I don't think it makes sense to pull out of my company health insurance entirely on my end. Also, I was thinking the low deductible plan on my wife's insurance might make sense, since we usually hit the out-of-pocket max which is all paid out after tax. That might be a better strategy if we continue to have random ER visits, etc. However, since she (we) won't have time to take kids to doctor for every fever, we might deviate from previous medical usage trends.\n\n&#x200B;\n\nReally looking for some solid advice and appreciate the review of my long winded post/situation.\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" Self: "Welcome to /r/personalfinance! Comments will be removed if they are political, medical advice, unhelpful, or uncivil ([subreddit rules](/r/personalfinance/about/rules)). Our moderation team encourages respectful discussion.\n\nYou may find our [Health Insurance wiki](/r/personalfinance/wiki/health_insurance) helpful.\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 (csreddit8): "My wife made it into the workforce. Since she got hired a few weeks back, her benefit enrollment period is now through Oct 16. My company's enrollment period starts about a week after hers closes (Oct 22). We have three kids (3, 5, and 13). The 13 year old is my step-son and gets medical coverage through his biological father. I'll try to explain the situation to hopefully come up with some ideas in hopes of coming up with a strategy.\n\n&#x200B;\n\nSome medical background: My wife believes she has early signs of a long term medical problem (MS), but hasn't been officially diagnosed though. We usually max out the out-of-pocket expense with one of our children, year over year. All children are presently heathy, no medications or issues.\n\n&#x200B;\n\nStep-son receives dental and eye insurance through me. Wife uses contact lenses now at her new job. Step-son wear glasses.\n\n&#x200B;\n\nI have VA medical coverage and my family receives some medical benefits (Champ VA) as a result of permanent long term disabilities from my service. All my medical has been covered through VA. For the first time, I have the opportunity to opt-out of company health insurance because my wife will now have coverage. But, I would lose out on the HSA contributions/investments.\n\n&#x200B;\n\nAt my company, we were informed that we would have a benefits marketplace option, and our current medical insurer opted out of the new program. As such, there are some unknowns, mainly costs until the enrollment period opens up.\n\n&#x200B;\n\nAt my wife's company, they provide a free high deductible medical plan which resembles our current medical insurance option.\n\n&#x200B;\n\nI didn't realize how good my company's insurance was until now. Here is a run-down of my options:\n\n&#x200B;\n\nHusband\n\n\---------\n\nVA Medical Coverage\n\nEnrollment period starts Oct 22\n\nCompany is going to offer a health insurance marketplace - UHC will drop out and we will have options of Aetna, Anthem ClueCross, Cigna, or Kaiser\n\nCurrently enrolled family in United Health Care - High Deductible Health Plan w/ HSA (maxed out) - $50 per pay period\n\nCompany HSA contribution $600 (single) /$1,200 (family) if enrolled to High Deductible Plan\n\nHSA contribution - Max\n\nChild Dependent FSA - Max\n\nDental PPO\n\nEye - Currently have EyeMed but will have VSP option with the introduction of the marketplace. Will probably switch to VSP.\n\nBasic, Supplemental, Spouse, Child Life, AD&D, LTD - Enrolled\n\n&#x200B;\n\n&#x200B;\n\nWife\n\n\---------\n\nCurrent enrollment period ends Oct 16\n\nFree High Deductible Plan that covers the family (Cigna)\n\n$750 PPO (Rx Included) - Cigna Medical Option - $200/pay period\n\nAlso has other high-deducible options (Medical Rider,RX Rider, or both) - Confusing for me\n\nDental PPO - cheaper and our dentist accepts it - Switch over to her.\n\nNo HSA (bummer)\n\nBasic, Supplemental, Spouse, Child Life, AD&D, LTD\n\nChild Care/Health FSA available\n\n&#x200B;\n\nI don't want to lose the HSA tax benefit, so I don't think it makes sense to pull out of my company health insurance entirely on my end. Also, I was thinking the low deductible plan on my wife's insurance might make sense, since we usually hit the out-of-pocket max which is all paid out after tax. That might be a better strategy if we continue to have random ER visits, etc. However, since she (we) won't have time to take kids to doctor for every fever, we might deviate from previous medical usage trends.\n\n&#x200B;\n\nReally looking for some solid advice and appreciate the review of my long winded post/situation.\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" Self: "Just because her company doesn't contribute to the HSA, doesn't mean you can't. A high deductible plan for Obamacare is not necessarily a HSA plan for the tax code, they are similar, but not identical, concepts.\n\nMixing FSA and HSA, even between spouses, can disqualify the HSA. You need to be more precise about the options and what is going on with these plans and read more about this.\n\nThese are both amazing plans, compared to what most of us have. Seems like you need to actually know what the marketplace plans are before you choose anyway." User (csreddit8): "I get this concept and I know we can't go over on annual maximums (e.g. we both can't max out Child Care FSA). I just laid out the available options on her end, which are very similar to my options, except she doesn't have an HSA. In order for me to contribute to the HSA, I have to enroll in the High Deductible plan, which my employer basically covers the cost of with the $1,200/$600 HSA kick-back, so I guess I should keep this. \n\n&#x200B;\n\nThe question I'm seeing is if we should go with a low-deductible health insurance with her employer given we typically reach the out of pocket expense on 1 person/year." Self: "It's more complicated than that. [Her FSA can make you ineligible for an HSA.](https://www.benstrat.com/downloads/HSA-GPS_HSAs-and-Interaction-with-Health-FSAs.pdf)" User (csreddit8): "We've never considered using a health FSA and there are no plans in the future. I've never liked the idea of it. Is it a benefit we should consider on her end?" Self: "Read #4 on that link." User (csreddit8): "HSA is better so will not touch FSA."
User (CovenantKillerz): "Let me preface this post by saying I'm aware that student loan debts should generally be paid off before any investing. \n\nI'm an 18 y/o student at a private college. I'm making W-2 income, but it is tax exempt because it is for a work-study. I will file taxes next year for 1099-MISC income > $400, as I'm making non-employee royalties for something unrelated. I'm curious if I would be able to contribute to a Roth IRA, as I'm not paying taxes on my W-2 income. Any advice is appreciated!" Self: "You may find these links helpful:\n\n- [Retirement Accounts](/r/personalfinance/wiki/index#wiki_retirement_accounts)\n- ["How to handle $"](/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 (CovenantKillerz): "Let me preface this post by saying I'm aware that student loan debts should generally be paid off before any investing. \n\nI'm an 18 y/o student at a private college. I'm making W-2 income, but it is tax exempt because it is for a work-study. I will file taxes next year for 1099-MISC income > $400, as I'm making non-employee royalties for something unrelated. I'm curious if I would be able to contribute to a Roth IRA, as I'm not paying taxes on my W-2 income. Any advice is appreciated!" Self: "Yes, 1099-MISC income (after you subtract 1/2 SE taxes) is compensation you can use that allows you to contribute to a Roth IRA. If your W-2 income doesn't appear in W-2 box 1, then you can't use that as compensation. Reference: IRS Publication 590-A downloadable as a pdf."
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "You may find these links helpful:\n\n- [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit)\n- [Credit Reports](/r/personalfinance/wiki/credit_reports)\n- [FICO / Credit Scores](/r/personalfinance/wiki/fico)\n- [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building)\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 (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "If it does, then it’s certainly not enough to matter."
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "It doesnt matter that much but personally i think closed by consumer is better - just leave as is"
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "It makes absolutely no difference. If anything, a potential creditor might see that and assume you were being responsible by requesting an unused account be closed. "
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "You may find these links helpful:\n\n- [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit)\n- [Credit Cards](/r/personalfinance/wiki/creditcards)\n- [FICO / Credit Scores](/r/personalfinance/wiki/fico)\n- [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building)\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 (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "They often close cards that have not been used in a while. How long depends on the card company. \nIn a way you did request it be closed, by not using it.\n\nI always thought it looked better on your report if you close it than if the company closed it."
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "I don't think it really matters much at this point. It's closed either way. Average age probably took a hit, but you said your credit is still fine so I'd just move on." Randdo101 (Randdo101): "No hit to average age for 10 years."
User (HungShark): "As the title said, I never requested the card to be closed. I already called the creditor and asked that it be changed on my credit report. They agreed over the phone; however, today I received a letter stating that their "investigation" showed that there is no error on their part and will not change anything.\n\nAt this point, is it even worth the effort to try to get this changed? My credit is in great shape already. I don't know whether a "closed by creditor" or "closed by consumer" makes any difference in the grand scheme of things.\n\nEdit: thank you all who responded. The consensus is that it's not worth my time." Self: "“Closed by issuer” would only make you look more like a risk since they don’t list the specific reason. Leave it alone. They did this to prevent it looking derogatory. "
User (paramatman21): "I discovered this app called SoLo Funds which is self-described as the following\n\n>SoLo is a mobile lending exchange connecting lenders and borrowers for the purpose of providing affordable access to loans under $1,000.\n\nThe iOS app store ratings sound fairly positive containing entries such as...\n\n>I’ve been using this app for a little bit, and from a lender point of view, it’s been good. I’ve lent out a couple hundred dollars at about a 10% tip rate, which is phenomenal from an investment point of view and you get these returns in less than a month, and I plan to loan out more money. Obviously, there are inherent risks with lending money to people, such as people not paying you back, but I haven’t experienced this so far, and I try to only lend to people with the higher Solo credit scores, which indicates to me that they have a greater likelihood of paying me back.\n\nI'd like to give lending a shot but of course my biggest concern is having a lendee not return their loan. The site handles this as follows-\n\n>SoLo gives borrowers the option to opt into the Rollover process if they can’t afford to repay the loan on the originally scheduled repayment date. If the borrower does not opt into the Rollover process and still fails to repay, that is considered a defaulted loan. The lender has the option to send the debt to collections.\n\nHas anyone used this app before? Am I legally guaranteed to get my money back if someone doesn't pay back their loan?\n\nsources: [https://solofunds.com/](https://solofunds.com/), [https://solofunds.com/faq.html](https://solofunds.com/faq.html), [https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8](https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8)" Self: "It doesn't sound like you would get your money back. Although it would show up on the recipients credit report so hopefully that's a strong incentive to repay.\n\nThey do claim they only have a 3% default rate though.\n\nEssentially it seems like a form of gambling in that regard? I tried signing up but they don't support my bank yet."
User (paramatman21): "I discovered this app called SoLo Funds which is self-described as the following\n\n>SoLo is a mobile lending exchange connecting lenders and borrowers for the purpose of providing affordable access to loans under $1,000.\n\nThe iOS app store ratings sound fairly positive containing entries such as...\n\n>I’ve been using this app for a little bit, and from a lender point of view, it’s been good. I’ve lent out a couple hundred dollars at about a 10% tip rate, which is phenomenal from an investment point of view and you get these returns in less than a month, and I plan to loan out more money. Obviously, there are inherent risks with lending money to people, such as people not paying you back, but I haven’t experienced this so far, and I try to only lend to people with the higher Solo credit scores, which indicates to me that they have a greater likelihood of paying me back.\n\nI'd like to give lending a shot but of course my biggest concern is having a lendee not return their loan. The site handles this as follows-\n\n>SoLo gives borrowers the option to opt into the Rollover process if they can’t afford to repay the loan on the originally scheduled repayment date. If the borrower does not opt into the Rollover process and still fails to repay, that is considered a defaulted loan. The lender has the option to send the debt to collections.\n\nHas anyone used this app before? Am I legally guaranteed to get my money back if someone doesn't pay back their loan?\n\nsources: [https://solofunds.com/](https://solofunds.com/), [https://solofunds.com/faq.html](https://solofunds.com/faq.html), [https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8](https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8)" Self: "I’m skeptical too, but decided to jump in. I’ve just lent someone $300 for the first time about 15 minutes ago. I probably should of tested the water with a smaller loan. \n\nAnyway, I took into account their SoLo score (70s), length of membership (April), number of previous transactions (3), and the payback date (10/19). Wish me luck! " User (paramatman21): "GL, let us know how it goes. I've only ever seen 1 or 2 previous transactions, lots with none. Is your tip worth the lend?" Self: "\nThe tip is $20, the highest tip I have seen is $30. \nIn short, if they don’t pay me back then I lost $300 trying to make $20. \n\nIf borrowers pay lenders back, then lenders have nothing to lose. That’s in a perfect world though. I would feel more at ease if the app guaranteed all or at least some of my money back if someone failed to pay. \n\nWhat do I care knowing that the borrower who robbed me will struggle with their credit? Just give me my money back and I’ll move on to the next borrower. An honest one hopefully. The idea is good, but the risk will be high until we can trust the borrowers or the app guarantees money back. That’s how I see it. I’ll let you know."
User (paramatman21): "I discovered this app called SoLo Funds which is self-described as the following\n\n>SoLo is a mobile lending exchange connecting lenders and borrowers for the purpose of providing affordable access to loans under $1,000.\n\nThe iOS app store ratings sound fairly positive containing entries such as...\n\n>I’ve been using this app for a little bit, and from a lender point of view, it’s been good. I’ve lent out a couple hundred dollars at about a 10% tip rate, which is phenomenal from an investment point of view and you get these returns in less than a month, and I plan to loan out more money. Obviously, there are inherent risks with lending money to people, such as people not paying you back, but I haven’t experienced this so far, and I try to only lend to people with the higher Solo credit scores, which indicates to me that they have a greater likelihood of paying me back.\n\nI'd like to give lending a shot but of course my biggest concern is having a lendee not return their loan. The site handles this as follows-\n\n>SoLo gives borrowers the option to opt into the Rollover process if they can’t afford to repay the loan on the originally scheduled repayment date. If the borrower does not opt into the Rollover process and still fails to repay, that is considered a defaulted loan. The lender has the option to send the debt to collections.\n\nHas anyone used this app before? Am I legally guaranteed to get my money back if someone doesn't pay back their loan?\n\nsources: [https://solofunds.com/](https://solofunds.com/), [https://solofunds.com/faq.html](https://solofunds.com/faq.html), [https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8](https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8)" Self: "I’m skeptical too, but decided to jump in. I’ve just lent someone $300 for the first time about 15 minutes ago. I probably should of tested the water with a smaller loan. \n\nAnyway, I took into account their SoLo score (70s), length of membership (April), number of previous transactions (3), and the payback date (10/19). Wish me luck! " AnonymousPirate (AnonymousPirate): "So, how did it go?" Self: "Oops I forgot about this post. Unfortunately, the loan didn’t go through. I approved the loan, the lendee approved to receive the loan, but two days into the process the app canceled the transaction due to an “error with my bank”. The money was not removed from account. \n\nI tried two more transactions, but the same thing happened. It didn’t come with an explanation beyond saying something is wrong with my bank. I had 3x the amount I was going to lend in my checkings, so it wasn’t my balance. After a week and a half of trying, I gave up. It really sucks because I was excited to try it. I deleted the app recently. Once it gets a couple updates, I will try again. Sorry to let you down. " melotron75 (melotron75): "I had the same problem when I tried to use my Bank of America account to fund a loan. I tried my Chase account and it went through. I have funded 6 loans so far. 2 of the loans were re-payed with no problems. 1 deadbeat is stiffing me for $65 and its going to collections soon. I have 3 other outstanding loans right now totaling about $820 and am feeling kind of nervous as to whether I will see this money again. One is for $206 due tonight at 11pm and I have a feeling its going to be going to collections soon. These are people with horrible credit and a history of bad debts, whats one more bad debt to them? As soon as I am repaid, I am not going to be lending out any more money. " Self: "Yeah that’s one thing I was afraid of and mentioned in a previous post. If one person fails to pay you, that one person can set you back on a good amount of profit made from numerous previous successful transactions. In a better world, this app would help make a good amount of money on the side. Needs to insure lenders at least. "
User (paramatman21): "I discovered this app called SoLo Funds which is self-described as the following\n\n>SoLo is a mobile lending exchange connecting lenders and borrowers for the purpose of providing affordable access to loans under $1,000.\n\nThe iOS app store ratings sound fairly positive containing entries such as...\n\n>I’ve been using this app for a little bit, and from a lender point of view, it’s been good. I’ve lent out a couple hundred dollars at about a 10% tip rate, which is phenomenal from an investment point of view and you get these returns in less than a month, and I plan to loan out more money. Obviously, there are inherent risks with lending money to people, such as people not paying you back, but I haven’t experienced this so far, and I try to only lend to people with the higher Solo credit scores, which indicates to me that they have a greater likelihood of paying me back.\n\nI'd like to give lending a shot but of course my biggest concern is having a lendee not return their loan. The site handles this as follows-\n\n>SoLo gives borrowers the option to opt into the Rollover process if they can’t afford to repay the loan on the originally scheduled repayment date. If the borrower does not opt into the Rollover process and still fails to repay, that is considered a defaulted loan. The lender has the option to send the debt to collections.\n\nHas anyone used this app before? Am I legally guaranteed to get my money back if someone doesn't pay back their loan?\n\nsources: [https://solofunds.com/](https://solofunds.com/), [https://solofunds.com/faq.html](https://solofunds.com/faq.html), [https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8](https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8)" Self: "I’ve been using this app to lend money and make a few bucks on the side for a few months now, and when I first started I had the same concerns as you. I was worried that someone could easily run off with my money, especially if they don’t give a shit about their credit score. However after my first loan was repaid by a particularly lowly scored person with a hefty tip, it boosted my confidence and I went all in. I have lent thousands of dollars and have never had a default, and I’ve made a good amount of profit so far. Sure there are assholes who will run off with your money... and if they default then yes, that money is gone. But you’d be surprised how rare it is. I think the moral responsibility, along with having to provide all personal information including SSN to the app, puts extra pressure on the borrower to repay. I usually go for lendees with a score of 70 or above, and although previous transaction history gives peace of mind, most of my loans have been to people with zero transactions. And I was wondering how their score could be so high with zero transactions, and came to the conclusion that SoLo checks credit scores and history. So if you stick to people above 70 you should be fine, whether they have completed transactions or not. Also stick to people with pictures, it means they’ve linked their facebook to the account and IMO are more likely to pay"
User (paramatman21): "I discovered this app called SoLo Funds which is self-described as the following\n\n>SoLo is a mobile lending exchange connecting lenders and borrowers for the purpose of providing affordable access to loans under $1,000.\n\nThe iOS app store ratings sound fairly positive containing entries such as...\n\n>I’ve been using this app for a little bit, and from a lender point of view, it’s been good. I’ve lent out a couple hundred dollars at about a 10% tip rate, which is phenomenal from an investment point of view and you get these returns in less than a month, and I plan to loan out more money. Obviously, there are inherent risks with lending money to people, such as people not paying you back, but I haven’t experienced this so far, and I try to only lend to people with the higher Solo credit scores, which indicates to me that they have a greater likelihood of paying me back.\n\nI'd like to give lending a shot but of course my biggest concern is having a lendee not return their loan. The site handles this as follows-\n\n>SoLo gives borrowers the option to opt into the Rollover process if they can’t afford to repay the loan on the originally scheduled repayment date. If the borrower does not opt into the Rollover process and still fails to repay, that is considered a defaulted loan. The lender has the option to send the debt to collections.\n\nHas anyone used this app before? Am I legally guaranteed to get my money back if someone doesn't pay back their loan?\n\nsources: [https://solofunds.com/](https://solofunds.com/), [https://solofunds.com/faq.html](https://solofunds.com/faq.html), [https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8](https://itunes.apple.com/us/app/solo-funds/id1270164837?mt=8)" Self: "Interested to hear more about this, as well" User (paramatman21): "I'm skeptical by all of the positive reviews on the app store so I'm interested in hearing feedback around my concern. I noticed a lot of the lendees requesting a loan have 0 transactions, and even those users have generated "SoLo scores" which is comparable to a credit score for their loans within this app. I don't know the penalization system for an unpaid loan and if money could just end up never getting paid back." blinksumgreen (blinksumgreen): "Way late to the party, but I came across this while looking to see if there was a SoLo subreddit and I figured I’d share my experience. So far, not great. I’ve been using the app for about 7 months and I have made a 11 loans totaling about $2k loaned out. Of those 11 loans, 7 have been successfully repaid which has netted me a little over $100 in profit (roughly a 10% return). The other 4 loans (which total about $800) have all gone to collections, meaning even if SoLo gets the money by working with a collections agency, that agency will get a cut. Best case is probably breaking even, worst case is I’m out several hundred dollars. I should add that I only made loans with users that had high “SoLo scores”. The 4 currently in collections range from 74-89.\n\nI won’t be completing any more loans until the ones in collection are repaid, and even then it would be highly dependent on what I netted from that. The company is going to have to improve their scoring system and/or improve the ways they work with people to repay loans for this to really be a viable investing option. I hope they do as I like the idea of peer-to-peer loans." LilithRavenna (LilithRavenna): "Does anyone happen to know if there is a way to get the lenders personal info? Verrrry long story short, had one successful loan, did a second. When they withdrew the repayment, they withdrew it from a FAMILY MEMBER’S account I’m not even on! I’ve blocked them from debiting my account too until they return the funds to the account they incorrectly withdrew them from. I just want to pay the lender back and be done but I don’t know if they are telling him the truth of what they did or making it look like I’m trying to rip him off. Is there any way to request his info or get in touch? Thanks! "
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: "At a high level, in most pensions both you and your employer pay in money each pay period. The plan's managers use those funds to meet current obligations and invest any surpluses to (hopefully) earn more money. If the fund can make good returns, that reduces the amount they employer has to contribute. That's also why lots of pensions are underfunded. "
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: ">Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate?\n\nCongratulations, you’ve just discovered America’s pension problem." Econ0mist (Econ0mist): "It's a [$6 trillion](https://www.investors.com/politics/editorials/the-states-unfunded-pension-nightmares/) problem."
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: ">Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate?\n\nCongratulations, you’ve just discovered America’s pension problem." User (eatgreenwaffles): "Thanks for the answer. So the numbers actually don’t make sense haha. " Self: ">So the numbers actually don’t make sense haha.\n\nNope, not really."
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: "The City I work for has employees pay a portion of the employer contribution :)"
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: "You're right that the employer contribution is not connected to you at all. The original purpose of the employer contribution comes from mid-20th century norms about employer obligations and employee benefit negotiations. Today, the primary function is political--it hides the enormous cost of pensions from government employees and taxpayers, who don't realize that low government pay is a cover for the high costs of pensions. Ignore the employer contribution and you'll be able to make more rational decisions about your own salary and savings."
User (eatgreenwaffles): "I’m a California “state miscellaneous” employee (https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions) and the state contributes like 29% of whatever I make to CalPERS every month (about $3k in my case). However, I learned that even at retirement, I won’t be able to draw from this employer contribution pool, and that the pension rate is instead calculated by years work and highest salary. If I can’t draw from this pool, what is the point this contribution? Also if the point of the employer contribution pool is to be dispersed during pension, how do organizations that contribute less afford to pay the pension at the same rate? (Some public agencies like schools and agencies only contribute like 7% whereas my status pays 29%)Thanks!" Self: "So I too just discovered the dirty secret of employer contributions. My wife is a teacher(not in CA) and the employer contributions shows up on the pay slips and advertised as a part of “benefits” package. Does anyone know the legal ground for how they can keep the employer contribution on behalf of you and claim it as a benefit? If it was a 401k match this would be completely illegal for companies to take the match back when the employee leaves."
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "> Simply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much\n\nI will tell a secret - this isnt true"
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "You need to cut expences to a bare minimum since you're not really sure what job to look for and that the current one you have doesnt pay as well. That unfortunately means going out less, eating out less, buying random things, etc.\n\nEdit: Only job I can think of that pays well and is flexible with schedules are restaurant jobs such as being a server. But pay can very due to popularity of the restaurant of course."
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "The best advice anyone can give you is to cut out unnecessary spending (i.e. taking cash out to spend at bars). No matter how you justify it, you can't afford it right now. Find things to do that don't cost money until/unless you get to a point or get a different job where you have more disposable income. Yes, it might cut down on the time you spend with your friends, or it might mean you start hanging out with different people, but that's hardly the end of the world. Wiping out your savings for a social life is just not worth it.\n\nTalk to your old manager about hiring you back. Explain that you left only because the internship would be a boost to your career, even though you loved the valet job, and you really want to come back and work the shifts you had before. The worst that can happen is they'll say no or they'll offer you something that won't work for you (bad shifts, etc). If they offer you bad shifts, you don't have to take it. \n\nLook into valet opportunities at other hotels or even waiting tables, both of which should net you some tips. There may even be some valet openings at whatever companies are contracted to do valet for fancy restaurants in your area. \n\n&#x200B;"
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "1. Stop drinking in bars. They charge for one drink, the same as the liquor store charges for an entire bottle. If you don't want to stop drinking, at least drink smarter.\n\n2. Get a part time job bussing/waiting tables a few hours a week. It'll keep you out of the bar and put some cash in your pocket."
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "I've been working at restaurants for a couple years now, the wage is fairly decent and the hours are flexible. Depending on where you live they'll be required to pay minimum wage + tips. Ideally though, work at a convention center if you're in a large city. I was employed at the convention center in Bellevue, WA and averaged $25 an hour. Earn the most you can working little as possible." User (rosentrotter): "Specifically, what did you do? Did you have to travel far to go to work?" Self: "No not particularly. The longest commute was about 20 minutes driving. But using the bus to get around really isn't that bad if you have the time for it, because if you earn enough it'll offset the time investment. At the convention center I did banquet service and they trained me. Before that I was a host/busser at a local restaurant. I've pretty much been working in restaurants since. Just find a place you can feel proud to work at with food you enjoy. If you don't make much stayed tips you can at least get a free meal."
User (rosentrotter): "Hi all, I am a junior in college at a large university. \n\nThis past year and over the summer, I worked at one of the nicest hotels in town as a valet averaging about $14 an hour, and I worked about 25 hours a week. I got paid primarily in tips, so I pretty much walked away from a shift with about $50 each day. On lucky days, I would make as high as $175, and I thought I had a healthy amount in savings to not have to work a lot with classes. \n\nAhead of the schoolyear, I landed probably my biggest break yet, an internship at the local newspaper that will give me a huge step forward in my career. I made the choice to quit the job at the hotel to be able to give my all to the internship, and also focus on passing classes. I also got a huge scholarship during my sophomore year, and didn't need to take out a student loan for my junior year. My federal aid and scholarship would pay for my tuition, while I would just need to cover living expenses.\n\nI live in a house that costs $350 per month for rent with a $150 utility + furniture charge. All together I pay my landlord $500 at the beginning of every month. I get paid at my internship $9 an hour for 20 hours a week. So $180 a week flat. So I went into the semester knowing I could in theory live on a budget of $720 a month, spend $500 on rent, $100 on groceries, and have $120 for gas other expenses. \n\nSimply put, that's not what's happened. I am spending quite a bit on gas, and I am taking out cash to spend at bars just as every college student does way too much. So when it comes time to pay for rent, I have to draw out of savings. I can't keep going at that rate the rest of the schoolyear, or else there won't be any more money left in the account.\n\nI have already considered asking the employer if I could work for them again, but that's unlikely considering they don't tend to hire people back after they quit. I also wouldn't be able to work many shifts that would get me tips, as I would be stuck with the ones where I'd just make my base wage of $5 an hour. \n\nI want to find a job that would help me with living expenses, makes tips so I can better pay for my life day to day, and also would work well with my schedule at my internship. Advice? " Self: "Make a list of absolutely every single purchase and expense for the last month. Try to make this as accurate as possible. You can check your credit card/bank statements online to accomplish this. This will give you insight as to where to cut costs. There are websites for this, but you can just use an excel sheet if you want to do it quickly.\n\nOdds are that you are spending a significant amount on drinking since you are going to the bar regularly. Other small expenses like something as simple as using a vending machine add up quickly. Add all of these up and see where you are at.\n\n&#x200B;"
User (sikorloa): "ADP is offering me 2 months free of setting up a Simple IRA for my S-Corporation (It's my own small company, and I'm the sole employee).\n\nThey are going to charge $40 / mo... I only pay myself about $1,200 a month salary - I would most likely only contribute around $50 - $100 a month to my Simple IRA. \n\n\nWould the Simple IRA through ADP be a bad idea? $40 / mo seems pretty expensive, to contribute $50-$100 a month... though it would increase my tax deductions right? The lady on the phone explained that at the end of the year, by contributing $50 / mo, I would pretty much break even (my tax liability would offset the $40 / mo. Though I don't really pay taxes on my S-Corp since my costs are pretty high right now... so the ADP setup is probably a bad idea yeah?)" Self: "You may find these links helpful:\n\n- [Retirement Accounts](/r/personalfinance/wiki/index#wiki_retirement_accounts)\n- ["How to handle $"](/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 (sikorloa): "ADP is offering me 2 months free of setting up a Simple IRA for my S-Corporation (It's my own small company, and I'm the sole employee).\n\nThey are going to charge $40 / mo... I only pay myself about $1,200 a month salary - I would most likely only contribute around $50 - $100 a month to my Simple IRA. \n\n\nWould the Simple IRA through ADP be a bad idea? $40 / mo seems pretty expensive, to contribute $50-$100 a month... though it would increase my tax deductions right? The lady on the phone explained that at the end of the year, by contributing $50 / mo, I would pretty much break even (my tax liability would offset the $40 / mo. Though I don't really pay taxes on my S-Corp since my costs are pretty high right now... so the ADP setup is probably a bad idea yeah?)" Self: "Go with Fidelity and open an SEP or Solo 401k instead. No fees and you can contribute more than you can to a SIMPLE plan." User (sikorloa): "Do you know if I can link ADP to have it deposit to the SEP?\n\nOr would I just write a check from my business account, or even do a "pay bill online" from chase bank into the Fidelity SEP? And avoid having to rely on ADP for a service?" Self: "ADP wouldn't be involved. You would either mail a check or transfer electronically from your own account.\n\nGive Fidelity a call. Their customer service is quite good." User (sikorloa): "Awesome, thank you. Just saved me $40 / mo ($480 / yr)\n\nEdit: or does Fidelity have fees too? " Self: "No fees that I’m aware of."
User (wellsfargosucksass): "Please tell me if there is a better sub for this.\nI have a job as a consultant. I get paid by the hour at $50 an hour. I have subcontractors I pay $30. \n\nMuch of my job are these tiny micro interactions. Sending an email or a text. This is making billing challenging so more and more I’m thinking pay my subcontractors $30 an hour and charge my clients $50 an hour for the subcontractors work to account for all of these micrinteractions throughout the day getting the subcontractors lined out. \n\nDoes anyone have experience with this and know the best way to go about it? \n\nThank you. " Self: "This or only bill in intervals such as 15,30 or 60 minutes at a time. Alternatively if 50 is too steep for your clients then 35 or 40." User (wellsfargosucksass): "$50 is lower than anyone else in my field. I’d feel weird billing 15 min for a two minute call. \n\nOkay that works. It’s kinda nice paying a subcontractor and billing my clients extra and poof I profited due to my expertise rather than grinding away all day. \n\nPlus I then have more time to focus on the things only I can do instead of stressing over making sure I record all these endless short interactions. " Suburbs_suck (Suburbs_suck): "I do this in my field, we bill out subcontractors at 20% over cost. However, that seems to be the minimum, often other sales guys will tack on 30-40% to feel like they are making a profit." User (wellsfargosucksass): "Gotcha. I’m used to being super poor. I feel like I’m giving people a break by keeping things reasonable and I’m making way more money than I’m used to so it works.\nPlus I also make good money for my own time. "
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "I don't believe you can collect unemployment till your severance runs out. " ditto958 (ditto958): "Not true. https://www.edd.ca.gov/unemployment/FAQ_-_Collecting_Benefits.htm"
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "Which industry were you in?" User (SimmeringPotato): "I work at a hospital that is apart of a major health system in California. "
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "Depending on the scope of layoffs, you could also look into if they violated the WARN act. This requires 60 days notice/pay and is often violated by companies, especially smaller ones."
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "Review any automated bill pays, acct xfers that you have setup just to make sure you're budget can handle it. If not, make adjustments.\n\nI left work and forgot to cancel my auto contribution to ROTH. Had to pay penalty because I contributed but had no income. Not likely a problem you'll have right away, but it made me review all my other automated pymts." User (SimmeringPotato): "Good idea, thank you! As soon as my retirement accounts are unlocked (small loan against them) I will probably roll into ROTH. " Self: "If they are pretax accts then I'm assuming you know that is a taxable event. Be careful not to pay too much in tax by converting too much at once. Straight rollover into an IRA might make more sense. If you don't know, do the research or ask an accountant. Or maybe a separate post/search here. I know it's been discussed here plenty." User (SimmeringPotato): "Good point!! I was aware it was a taxable event, yes they're pre tax accounts. I guess I didnt think of the financial strain of rolling all at once. Thank you "
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "Go fill out the form on the CoveredCA (Medi-Cal) website. I believe if you state you have no future income, it will redirect you to sign up for Medi-Cal. A social worker will contact you and you may eligible for additional state benefits. Good luck.\n\n&#x200B;" User (SimmeringPotato): "Thank you for this. I will do so. Much appreciated "
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "Pretty sure you have to be seeking and available for work to collect unemployment."
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: "I don't believe you can collect unemployment till your severance runs out. " User (SimmeringPotato): "I believe, from what I've looked up online so far, that CA unemployment benefits dont take severance into consideration. I could be wrong. " py87 (py87): "You can collect severance and unemployment at the the same time in CA. Some states you can’t like NY. And you should file for unemployment claim ASAP because they start your claim the Sunday of the week you call to file " User (SimmeringPotato): "Can I start my claim while I'm still working and future date it?" py87 (py87): "Unfortunately not. Also, if your last day of work is going to be a Friday, call to file the following week" User (SimmeringPotato): "Ahh okay, thank you for info." NSX000 (NSX000): "It is faster to do it on the website than calling. You can go register for an account before your last day. As soon the day you are done working, you should fill the benefit immediately on the website. I believe they will not pay you any benefits until the forth week." vermiliondragon (vermiliondragon): "Waiting period is only 1 week before benefits kick in."
User (SimmeringPotato): "After ten years at the same company, (CA, US) they are closing my department. They are giving me a severance package of my same pay for 10 weeks (1 week for every year) paid in installments echoing my bi weekly paycheck. \n\nI have never filed for unemployment before in my life. Other than going on to the state website and filling out the application, do I need to do anything else for unemployment? When should I file? Should I wait until the day I'm terminated or file before? \n\nSince I am losing my health benefits, am I allowed to apply for Medi-Cal before I'm laid off so as not to have a gap where I'm uninsured and if so, would it be unlawful to put zero income if I'm still employed when I file? \n\nI am taking this opportunity to finish school so for the foreseeable future I wont be seeking other employment. My budget is tight but I will make my mortgage and bills each month without issue. \n\nIs there anything I'm forgetting or not considering? I am nothing if but a planner and want to make sure I'm not overlooking anything in preparation for the first time in my adult life that I am jobless. \n\nThank you in advance, PF. You girls and guys are amazing." Self: " if they are just closing your department not the entire company, you should check out for insurance what the rates would be under the Cobra law\n\n as I understand it you have the right to continue with your existing policy for 18 months if you pay the entire cost. Ask HR for the figure\n\nnow, it may be much better and cheaper to go into the ACA policies but consider that as one of your options" User (SimmeringPotato): "They're paying me a lump cobra sum however I dont believe it will cover the entire cost, but I will definitely ask. Thank you " Self: "If they're willing to give you some money towards that as part of the severance package that's a good thing\n\n make sure you return that paperwork to them in a timely fashion and make sure you know who you're paying each month to keep that policy going"
User (wakeforsoul): "Hello! My wife and I are expecting our first child in 6 months and I am trying to shore up any "low-hanging fruit" in finances. I am mostly worried by (x) known unknowns and (y) unknown unknowns. Anything you wish you knew? Would greatly appreciate any and all advice, thanks!\n\n&#x200B;\n\nKnown Unknowns\n\n* Life insurance \- should we get it? Any preferred providers?\n* Health insurance \- We're using a high-deductible, wondering if we should switch to low-deductible PPO. We get $1,000 per year free from my wife's employer to be on high deductible, with only a $1,400 higher deductible. So if we put the other $5,500 tax-free, at 30%, I think I am in the clear staying on high deductible, right? Max out of pocket is only $1,200 higher on HD.\n* Any personal finance tips? We're saving \~$10k per month with a diversified portfolio. But should we be maxing out any tax-deductible child accounts? We're funding 529 now. Anything similar?\n* Estimated costs of delivery, anything out of the ordinary? \n\n&#x200B;\n\nUnknown Uknowns\n\n* Please let us know! \n\n&#x200B;\n\nBackground Info\n\n* Stable DINKs saving $10k / month. Own a house and two cars debt-free.\n* Most of net worth ($0,5M) is in index funds / 401k / etc.\n* 30 years old.\n\n&#x200B;\n\nThanks!!\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" Self: "The family deductible might be different, and the baby will max out the deductible in the hospital. You'll have to do the math on the choices you have.\n\nYou need to have a will and all the related junk. I hope you don't need it soon, but none of us are making it out alive, and this is your responsibility as a parent. Find someone good at adulting and use their lawyer.\n\n529s can be used for private K-12 now, of course future tax law can change. If that's in your future, then tax planning might involve heavier 529 than just college would have." User (wakeforsoul): "Good advice on the 529 - thanks!"
User (wakeforsoul): "Hello! My wife and I are expecting our first child in 6 months and I am trying to shore up any "low-hanging fruit" in finances. I am mostly worried by (x) known unknowns and (y) unknown unknowns. Anything you wish you knew? Would greatly appreciate any and all advice, thanks!\n\n&#x200B;\n\nKnown Unknowns\n\n* Life insurance \- should we get it? Any preferred providers?\n* Health insurance \- We're using a high-deductible, wondering if we should switch to low-deductible PPO. We get $1,000 per year free from my wife's employer to be on high deductible, with only a $1,400 higher deductible. So if we put the other $5,500 tax-free, at 30%, I think I am in the clear staying on high deductible, right? Max out of pocket is only $1,200 higher on HD.\n* Any personal finance tips? We're saving \~$10k per month with a diversified portfolio. But should we be maxing out any tax-deductible child accounts? We're funding 529 now. Anything similar?\n* Estimated costs of delivery, anything out of the ordinary? \n\n&#x200B;\n\nUnknown Uknowns\n\n* Please let us know! \n\n&#x200B;\n\nBackground Info\n\n* Stable DINKs saving $10k / month. Own a house and two cars debt-free.\n* Most of net worth ($0,5M) is in index funds / 401k / etc.\n* 30 years old.\n\n&#x200B;\n\nThanks!!\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" Self: "Yes on term life, for both of you. Get as long a term as you can to cover future kids through college or until you have enough other assets as inheritance. I used select quote to get quotes. There are other brokers similar to them. " User (wakeforsoul): "Thanks!! Will do "
User (wakeforsoul): "Hello! My wife and I are expecting our first child in 6 months and I am trying to shore up any "low-hanging fruit" in finances. I am mostly worried by (x) known unknowns and (y) unknown unknowns. Anything you wish you knew? Would greatly appreciate any and all advice, thanks!\n\n&#x200B;\n\nKnown Unknowns\n\n* Life insurance \- should we get it? Any preferred providers?\n* Health insurance \- We're using a high-deductible, wondering if we should switch to low-deductible PPO. We get $1,000 per year free from my wife's employer to be on high deductible, with only a $1,400 higher deductible. So if we put the other $5,500 tax-free, at 30%, I think I am in the clear staying on high deductible, right? Max out of pocket is only $1,200 higher on HD.\n* Any personal finance tips? We're saving \~$10k per month with a diversified portfolio. But should we be maxing out any tax-deductible child accounts? We're funding 529 now. Anything similar?\n* Estimated costs of delivery, anything out of the ordinary? \n\n&#x200B;\n\nUnknown Uknowns\n\n* Please let us know! \n\n&#x200B;\n\nBackground Info\n\n* Stable DINKs saving $10k / month. Own a house and two cars debt-free.\n* Most of net worth ($0,5M) is in index funds / 401k / etc.\n* 30 years old.\n\n&#x200B;\n\nThanks!!\n\n&#x200B;\n\n&#x200B;\n\n&#x200B;" Self: "> Estimated costs of delivery, anything out of the ordinary?\n\nOurs was $12,000 for everything and insurance didn't pay a cent (even though we also had maternity coverage)." User (wakeforsoul): "What? That’s terrible - why didn’t they pay? Out of network? Midwife?" Self: "In-network, emergency c-section at the hospital. But we didn't hit the deductibles, so we had to pay out of pocket.\n\nMy wife had health insurance, with a deductible of $7,500 and maternity coverage with a deductible of $7,500. So I thought the most we'd pay would be $7,500 because everything is "maternity" right?\n\nTurns out, no. The c-section was applied toward the $7,500 maternity deductible. My wife's recovery after the surgery was applied toward her regular $7,500 deductible. And since the c-section cost $6,000, it didn't meet the $7,500 maternity deductible. And her four day hospital stay to recover was $4,000, which didn't meet her $7,500 regular deductible.\n\nSo we paid for her entire c-section and hospital recovery out of pocket.\n\nAnd then there's the baby. The baby, of course, stays in the hospital for a little while for tests, making sure everything is fine, etc.\n\nWe had the option of adding the baby to my wife's insurance, but that would turn her plan from an individual plan with a $7,500 deductible to a family plan with a $15,000 deductible. So adding the cost of the baby's hospital stay still wouldn't reach that $15,000 deductible and we'd have to pay for the baby's stay out of pocket as well.\n\nOr we could put the baby on my health insurance plan, but that would turn my plan from a $4,000 deductible individual plan to a $8,000 deductible family plan. So the baby's hospital stay wouldn't reach that deductible either.\n\nEither way, we had to pay for the c-section out of pocket, my wife's recovery out of pocket, and the baby's hospital stay out of pocket.\n\nSo the final bill was $12,000. Out of my $50,000 gross salary." User (wakeforsoul): "Holy smokes. I’ve heard about a lot of doctors showing up unannounced when covering a round and not being in network... between your story here and that I need to do some homework on this. Thanks!!"
User (thawowtso): "Apologies if this isn't the right place to ask this question and I'll move it! \n\nAbout two months ago I went to the dentist for a cleaning and discovered I had two cavities in my molars. I have never had a cavity before, so before making an appointment to get it filled, I called my insurance to see what they would cover. \n\nI explained the situation to my dental insurance and they confirmed with my dental office that it would all be covered by my insurance. When I went in for my dental visit, before getting the treatment, I re-confirmed that it should all be covered. The receptionist said it was. After the appointment, she again said it was all taken care of and that I was good to go. \n\nNow, I have just received a bill in the mail for $70 bucks because I got "composite resin or acrylic restorations" and my insurance plan only covers "amalgam restoration". I'm a little taken-aback because I never requested anything special and confirmed with both my insurance and dental office that the fillings would be covered before going in. I didn't even know there were different types of fillings. \n\n$70 bucks isn't the end of the world, but I am wondering if I have any recourse here. Were the composite fillings deemed necessary by my dental office after the fact? Why would they do them without asking me first? \n\nI have only had good experiences with this office in the past (granted, I've only ever had cleanings done here) so I don't want to think they did anything malicious, like over-charge for an unnecessary add-on, but I do wish they had told me beforehand. I would've said to just do the amalgam fillings. It makes me wonder if my insurance is the one who misunderstood (?). \n\nFor the future, what can I do to make sure this stuff doesn't happen to me again? I thought I did my due diligence by confirming with both insurance and dental office that everything would be covered (both via the phone and in-office before getting the work done)." Self: "It is possible your dentist decided based on where they were located that composite was a better choice. You can always ask the dental office why they chose the composite. You can also ask the insurance company why they don't cover composite fillings since that has become the standard material and it was your dentist's opinion that that was the appropriate treatment."
User (thawowtso): "Apologies if this isn't the right place to ask this question and I'll move it! \n\nAbout two months ago I went to the dentist for a cleaning and discovered I had two cavities in my molars. I have never had a cavity before, so before making an appointment to get it filled, I called my insurance to see what they would cover. \n\nI explained the situation to my dental insurance and they confirmed with my dental office that it would all be covered by my insurance. When I went in for my dental visit, before getting the treatment, I re-confirmed that it should all be covered. The receptionist said it was. After the appointment, she again said it was all taken care of and that I was good to go. \n\nNow, I have just received a bill in the mail for $70 bucks because I got "composite resin or acrylic restorations" and my insurance plan only covers "amalgam restoration". I'm a little taken-aback because I never requested anything special and confirmed with both my insurance and dental office that the fillings would be covered before going in. I didn't even know there were different types of fillings. \n\n$70 bucks isn't the end of the world, but I am wondering if I have any recourse here. Were the composite fillings deemed necessary by my dental office after the fact? Why would they do them without asking me first? \n\nI have only had good experiences with this office in the past (granted, I've only ever had cleanings done here) so I don't want to think they did anything malicious, like over-charge for an unnecessary add-on, but I do wish they had told me beforehand. I would've said to just do the amalgam fillings. It makes me wonder if my insurance is the one who misunderstood (?). \n\nFor the future, what can I do to make sure this stuff doesn't happen to me again? I thought I did my due diligence by confirming with both insurance and dental office that everything would be covered (both via the phone and in-office before getting the work done)." Self: "Two things I’ve learned: 1) ask for ‘pre-approval’ , it puts the onus on the dentist to submit the exact scope of work and understand exact what is and isn’t covered; 2) tell the dentist that you want to approve any deviation from service, it gives you recourse if there is a discrepancy later (but it’s not air tight)"
User (thawowtso): "Apologies if this isn't the right place to ask this question and I'll move it! \n\nAbout two months ago I went to the dentist for a cleaning and discovered I had two cavities in my molars. I have never had a cavity before, so before making an appointment to get it filled, I called my insurance to see what they would cover. \n\nI explained the situation to my dental insurance and they confirmed with my dental office that it would all be covered by my insurance. When I went in for my dental visit, before getting the treatment, I re-confirmed that it should all be covered. The receptionist said it was. After the appointment, she again said it was all taken care of and that I was good to go. \n\nNow, I have just received a bill in the mail for $70 bucks because I got "composite resin or acrylic restorations" and my insurance plan only covers "amalgam restoration". I'm a little taken-aback because I never requested anything special and confirmed with both my insurance and dental office that the fillings would be covered before going in. I didn't even know there were different types of fillings. \n\n$70 bucks isn't the end of the world, but I am wondering if I have any recourse here. Were the composite fillings deemed necessary by my dental office after the fact? Why would they do them without asking me first? \n\nI have only had good experiences with this office in the past (granted, I've only ever had cleanings done here) so I don't want to think they did anything malicious, like over-charge for an unnecessary add-on, but I do wish they had told me beforehand. I would've said to just do the amalgam fillings. It makes me wonder if my insurance is the one who misunderstood (?). \n\nFor the future, what can I do to make sure this stuff doesn't happen to me again? I thought I did my due diligence by confirming with both insurance and dental office that everything would be covered (both via the phone and in-office before getting the work done)." Self: "My dentist no longer does amalgam fillings. They’re falling out of favor in the profession due to very good reasons she has told me, but I didn’t retain because it was a while ago she went over this with me. \n\nSimilarly, insurance will only cover the most basic ceramic crown. According to her, dentistry is moving toward more resilient crowns made out of different, slightly more expensive materials. You’re suck paying the difference. \n\nIt could be your dentist decided on that particular filling based on the location of the tooth, or it could be she doesn’t use the basic amalgam fillings. You should ask."
User (thawowtso): "Apologies if this isn't the right place to ask this question and I'll move it! \n\nAbout two months ago I went to the dentist for a cleaning and discovered I had two cavities in my molars. I have never had a cavity before, so before making an appointment to get it filled, I called my insurance to see what they would cover. \n\nI explained the situation to my dental insurance and they confirmed with my dental office that it would all be covered by my insurance. When I went in for my dental visit, before getting the treatment, I re-confirmed that it should all be covered. The receptionist said it was. After the appointment, she again said it was all taken care of and that I was good to go. \n\nNow, I have just received a bill in the mail for $70 bucks because I got "composite resin or acrylic restorations" and my insurance plan only covers "amalgam restoration". I'm a little taken-aback because I never requested anything special and confirmed with both my insurance and dental office that the fillings would be covered before going in. I didn't even know there were different types of fillings. \n\n$70 bucks isn't the end of the world, but I am wondering if I have any recourse here. Were the composite fillings deemed necessary by my dental office after the fact? Why would they do them without asking me first? \n\nI have only had good experiences with this office in the past (granted, I've only ever had cleanings done here) so I don't want to think they did anything malicious, like over-charge for an unnecessary add-on, but I do wish they had told me beforehand. I would've said to just do the amalgam fillings. It makes me wonder if my insurance is the one who misunderstood (?). \n\nFor the future, what can I do to make sure this stuff doesn't happen to me again? I thought I did my due diligence by confirming with both insurance and dental office that everything would be covered (both via the phone and in-office before getting the work done)." Self: "Amalgam is typically the silver fillings, while composite is white, and is becoming less popular to use (at least in my experience). Should be easy to tell which one you got by looking I. The mirror. Many dental insurances only cover amalgam on molars, as it’s cheaper. My insurance only recently started covering composite.\n\nIt’s possible that the office ran it as amalgam and then gave you composite. Do you have a pre-approval for the procedure? That would show you what code they used on what tooth, and I believe amalgam and composite are different codes. \n\nIf they’re billing you as composite but approved you for amalgam, you’re responsible for the difference, and $70 seems pretty reasonable for 2 fillings. Do try to check with your dentist, though, as to why they switched without informing you or if they have record of trying to. \n\nIf they did this, I’m not sure there’s other recourse other than bringing your business elsewhere. " D2MoonUnit (D2MoonUnit): "This. My dentist will only do the composite fillings, but my insurance will only cover amalgam, which means I have to cover the difference out of pocket."
User (JasonP_): "So I have a Roth IRA from an older job. It was a 401k and after layoffs it was rolled over into a Roth IRA for me. It earns about 14$ a year and has a 15$ yearly fee. It only has about 1000$ in it. I currently have a 401k at my current company and but can not combine them. Will I take a penalty for cashing it out?" Self: "I would advise moving it to a good brokerage (like Schwab or Vanguard), picking appropriate investments, and having it grow for you with no yearly fee.\n\nWas there a reason that was not one of the options you presented?"
User (integralvoid): "I want to apply for a 0% APR card to consolidate debt and pay less fees. Wanted to know what my options are if after I’m approved the limit is too low to be useful (in terms of balance transfer). \nAlso, what are good resources to find the best deals on these types of cards?\n" Self: "You may find these links helpful:\n\n- [Credit-related wiki pages](/r/personalfinance/wiki/index#wiki_credit)\n- [Credit Reports](/r/personalfinance/wiki/credit_reports)\n- [FICO / Credit Scores](/r/personalfinance/wiki/fico)\n- [Improving Credit Scores and Building Credit](/r/personalfinance/wiki/credit_building)\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 (integralvoid): "I want to apply for a 0% APR card to consolidate debt and pay less fees. Wanted to know what my options are if after I’m approved the limit is too low to be useful (in terms of balance transfer). \nAlso, what are good resources to find the best deals on these types of cards?\n" Self: "If you don't open the account then nothing should show up on your credit except an inquiry. " User (integralvoid): "Doesn’t the act of applying and being accepted open the account?" Self: "No. It shouldn't. Have you received the card? Have you called or in some way communicated that you don't want the account? "
User (integralvoid): "I want to apply for a 0% APR card to consolidate debt and pay less fees. Wanted to know what my options are if after I’m approved the limit is too low to be useful (in terms of balance transfer). \nAlso, what are good resources to find the best deals on these types of cards?\n" Self: "You'll lose some point for a while because of the inquiry. \n\n\n&#x200B;"
User (integralvoid): "I want to apply for a 0% APR card to consolidate debt and pay less fees. Wanted to know what my options are if after I’m approved the limit is too low to be useful (in terms of balance transfer). \nAlso, what are good resources to find the best deals on these types of cards?\n" Self: "Even if you don't get approved for enough to transfer your entire balance you can still take that card and get whatever amount they give interest free. "
User (aliron): "I've put a lot of money (to me) into bond ETFs, and have been putting more and more money into stock ETFs to raise my stock-to-bond ratio. But now it just seems like too much money to lose as the market keeps going up and we're due a recession. I keep hearing about how bond ETFs are new and if they crash no one knows what's going to happen. \n\nIn the last few years, I've made more money than I ever have. I was also unemployed for long stretches of time before. I have a large amount of savings (enough for a year), and much more in an investment account. I can't help but feel my current job won't last a life time (what does anymore?) and I can't figure out the amount of risk I'd like to take. It's a lot of money to lose. Whereas in a savings account, I lose money due to inflation and there's an opportunity cost to hoarding money there--but I'd still have the cash there when I need it.\n\nMaybe I'm just a worrier. Have any of you felt this way before? How do you manage your risk?" Self: "You may find these links helpful:\n\n- ["How to handle $"](/r/personalfinance/wiki/commontopics)\n- [Investing](/r/personalfinance/wiki/investing)\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 (aliron): "I've put a lot of money (to me) into bond ETFs, and have been putting more and more money into stock ETFs to raise my stock-to-bond ratio. But now it just seems like too much money to lose as the market keeps going up and we're due a recession. I keep hearing about how bond ETFs are new and if they crash no one knows what's going to happen. \n\nIn the last few years, I've made more money than I ever have. I was also unemployed for long stretches of time before. I have a large amount of savings (enough for a year), and much more in an investment account. I can't help but feel my current job won't last a life time (what does anymore?) and I can't figure out the amount of risk I'd like to take. It's a lot of money to lose. Whereas in a savings account, I lose money due to inflation and there's an opportunity cost to hoarding money there--but I'd still have the cash there when I need it.\n\nMaybe I'm just a worrier. Have any of you felt this way before? How do you manage your risk?" Self: "how many months worth of expenses does your emergency fund comprise of?"
User (aliron): "I've put a lot of money (to me) into bond ETFs, and have been putting more and more money into stock ETFs to raise my stock-to-bond ratio. But now it just seems like too much money to lose as the market keeps going up and we're due a recession. I keep hearing about how bond ETFs are new and if they crash no one knows what's going to happen. \n\nIn the last few years, I've made more money than I ever have. I was also unemployed for long stretches of time before. I have a large amount of savings (enough for a year), and much more in an investment account. I can't help but feel my current job won't last a life time (what does anymore?) and I can't figure out the amount of risk I'd like to take. It's a lot of money to lose. Whereas in a savings account, I lose money due to inflation and there's an opportunity cost to hoarding money there--but I'd still have the cash there when I need it.\n\nMaybe I'm just a worrier. Have any of you felt this way before? How do you manage your risk?" Self: ">too much money to lose as the market keeps going up and we're due a recession. \n\nrecession does not necessarily mean market crash. \n\nhttp://static3.businessinsider.com/image/54a4288f6da8118341b27bb3/this-is-the-best-illustration-of-historys-bull-and-bear-markets-weve-seen-yet.jpg"

Subsets and Splits