- April 24, 2024
- Posted by: legaleseblogger
- Category: Related News
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Apologies if this is the wrong place, but does anyone have any tips for budgeting/fixing bad spending habits for people with ADHD? Impulsiveness tends to be my ultimate problem. I’m trying to find a way to reinforce the good habits with periodic rewarding and fend off the impulsive purchases as long as possible.
I can pay my bills, put some back, and am slowly crunching debt but I could definitely do better. I have made dumb decisions in the past when I was not aware of the reality of how far my money could stretch nor what “recommended” percentages for things like car payments were. I can post a very specific breakdown of my situation as well if that could make for better advice.
My FICO score went above 800 for the first time ever and Iām moderately pumped about it, woo
I’m looking to safely park about 150k of cash somewhere for about one year. Considering
– A T-Bill through a low fee ETF equivalent
– A high interest savings account, maybe at an online only bank like Ally
– Something like SWVXX or SNVXX
Any other thoughts??
Just got a new job making 53k a year. Average rent in my area is 1500 a month, I can’t afford that, can I?
How long does it take for my credit score to recognize I paid off the balance on a credit card? I am applying for a new credit card and want to show the smallest utilization when they check my credit. If I pay it off today, should I apply to the new card on Friday?
I tried to apply to Allys HYSA – but got denied.
Credit is 660- two closed accounts a few years ago- poor college decisions.
I’ve spent the last few years saving and getting back on track.
Any HYSA recs that’ll accept me?
I’m starting to pay back my student loans more aggressively. I paid one off completely a couple of weeks ago, but this seems to have decreased my credit score from 800 to 780. How does that make sense? How do I prevent my credit score from decreasing while at the same time paying off my loans?
I assume like many of you in the US, I’ve wound of with so many Fidelity accounts over the years. One of those accounts is just a simple brokerage account that my former company opened up for me years ago to gift me 10 shares of their stock. It was originally worth $500 and now its worth $2000. I also have a 529 for my son with Fidelity. Would it be possible for me to gift 5 of the shares from the brokerage account to the 529? I would just cash out the remaining 5 shares to use for a project around the house. I would rather not pay capital gains for something that will be immediately reinvested. Thanks.
Hi everybody I am 18y old Moroccan studying in china, I work part time 24h a week and get paid 500$ entry level and I spend 250$, and a business that generates 500$. I have the opportunity to work 80h or 70h during the summer break and get paid from 2000$ to 1500$, depending on my negotiating with the boss. but I wanna know if itās worth to work that many hours especially that I will need to work from 8pm to 4 am, but itās an office job so very relaxed. But a lot of people say that you will have problems in you other aspects of life health your social lifeā¦
Now that Marcus is dropping the Marcus Insights tool in late May, I don’t have any reason to use it outside of my savings accounts with them. Is there any similar services/apps available elsewhere? Rocket money seems to not be that good. I could go back to using excel sheets but it was really nice to be able to see net worth + basic tracking of expenses which I could sift through. I have a YNAB sub but it is more tedious to deal with especially with my loan accounts. Any thoughts?
Im [23M] in Canada so the following is in CAD. Iām in a very privileged and fortunate position, but at the same time, im in a super neurotic and anxious position. I have a well paying job, but cause of its nature i can randomly lose it any day, it may be super hard to get (any!) new one in the same role, and im estranged from my parents. So iām wondering what you guys think of my āif hell arrivesā plan. And any feedback or tips on it. I live HCOL in vancouver.
– i make 160k/yr, have 10k in 0% federal student debt, 18k HISA emergency, 30k TFSA (tax free investments), 9k FHSA
– if im laid off i likely get 4-8 paycheques in severance
Plan
– live in some super cheap part of the fāin phillipines on like 500/mo while i grind interview prep for a new job
– if i dont get a new job after 16 months i pivot to trade school or if i have enough saved by then, get 2nd undergrad degree and become a nurse
I hope this is the place to post this. But I’m looking for advice.
Male 40, moving to a different state. I will buy a business that allows me to put 20k in my pocket monthly. Assume I have 1 million liquid and nothing else. I will get residual income of 10-20k per month from another investment. I have 3 young children and I’d like to give them a leg up. That’s why I’m leaning towards the 3 rental homes.
Scenario 1. I buy 3 houses in full for 750k and put 8k a month in my pocket and use the other 250k as the down on an sba loan for the new business purchase? I’ll dip into my own money for my personal residential purchase.
Scenario 2. I put 750k down on my families “dream” home. Use the remaining 250k as the down on the sba loan.
Scenario 3. I rent a home. Use the 1 million for the sba loan and buy a business that will put 40-60 in my pocket monthly.
I’m a 28m that has never had a line of credit open outside of student loans that were paid off 5 years ago (~$15k). I need to start building credit as I plan to purchase a home/have a mortgage in the next 5 years. I have been denied for 3 credit cards, 2 of them beginner/entry-level cards. The only reason given is my lack of credit history.
What am I to do to open a card and start building credit?
Is there any drawback in constantly joining credit unions with high APY savings accounts, then dumping them if something better comes along? I have a nest egg (20K) stored in more readily accessible locations (ie, Chase, Bank of America and Ally via zelle) that will not be stored in these credit unions.
My spending on groceries, and eating out is too high. Any suggestions on how to decrease this number? Any cheap recipes you might suggest?
I’m looking at my 401(k) Summary Plan Description and I am wondering if these management fees seem steep. I’m seeing all of the Target Dates at 0.10%; PRVIX (T Rowe Price Small Cap) at 0.70%; and some others that seem high like JP Morgan Blend funds, whatever that is, at 0.34%. My input of $750/mo has someone like $6.95 in fees, which is about .01%.
My car loan is 26k at 8.5% and student loans 37k at 6-8%. Which should I pay off first in a lump sum payment? Iām leaning towards the student loans since that debt is non-dischargeable in a bankruptcy and the amount owed is greater.
Hello! I am in my second out of five years of college.
I currently have two unsubsidized loans ($5,500 and $3,250), and I previously accepted a third at $3,250 for the summer. The first interest rate is fixed is at 4.99%, and the second is 5.5%.
I $28,000 in savings, $20,000 of which is in a HYSA. It has a 5.4% APY, but that will drop to 4.4% once my referral bonus drops in a month.
My income is a tricky situationā every other semester, I have a full time job where I make about $450 weekly. Year round, I have a part time job where I usually only make about $200 weekly. My spending is about $1200/mo.
So, my question isāshould I just pay off interest? Should I completely pay off one of my loans? Should I keep everything in my HYSA and wait until I graduate? Iām a big saver so the idea of paying off a loan in full is scary, but Iām open to any ideas.
Iām reviewing my finances and was looking at my savings accounts. I recently opened an Apple savings account, which is sitting at a 4.4% APY. Meanwhile, my existing savings account with my credit union is netting .06% APY. Iām thinking it would be smart to consolidate into the high yield Apple account, but wanted to double check ā would there be any benefit to keeping money in the lower-yield account aside from ease of transferring to my checking account?
Wife just scheduled a doctor’s appointment for tomorrow morning. This is exactly what we need an HSA for. She doesn’t have one with her current employer, but she does have one from her ex-employer that she left 4 years ago. I asked her if she still has a debit card for that HSA and she doesn’t. I asked how do. we pay out of an HSA if we don’t have the debit card. Found out we can do online bill payment directly out of the HSA. But she doesn’t know where it is and can’t. be bothered to try to locate it. There are several hundred dollars in there. When I told her she needs to figure out how to locate it she yelled and said stop talking about this. She says she’s “too busy” and doesn’t want to do it and can’t be bothered to figure out how to locate it and connect it to the bill payment that’s coming. She’s going to end up paying it out of our regular bank account and yells at me when I ask her to locate that HSA which still has usable money.
What can I do? How do we locate an HSA that we have no idea how to locate? If we need to contact the employer she left 4 years ago, she has to be the one to do that, and I know she won’t because she’s “too busy”.
I’m looking into opening a HYSA and a Fidelity S&P 500 index.
I currently plan to put aside about $2000 per month in my savings, and my total savings as of now is $10,000 in a traditional .01% savings account with Chase.
One thought I had was to see if it would make sense to put all 10K in my savings into the HYSA (thinking of choosing Wealthfront as there is no minimum fee and 5% APY as of now.) and deposit 1k into it every month. As well as putting 1k a month into my Fidelity FXAIX 500 index.
Is this a sound strategy for what I am looking to do, or would you have any other recommendations?
For context, I net about 5540 per month salary. My after expenses liquid is about 3500, but I try to have extra liquid in excess every month/paycheck. Paid off all my credit card bills and have no consumer debt, just a car and student loan.
I have always had a traditional savings and just recently started to really take investing seriously so I am pretty fresh to this, any advice is appreciated š
Do I need to allocate the funds in my Schwab roth IRA?
There was never any fund option like the other brokerages that I know have “target date fund 20xx”. Under the Positions tab it just says: Cash & Money Market – > Cash & Cash Investments.
It looks like it’s slated to earn slighty over 5% interest next month so it seems to be working?
How can I mentally switch from a saver to spender mode and enjoy life style creep finally? As of last month, I have officially accomplished all my financial savings goal. I have a fully funded 12-22 month emergency fund (12 months if I assume all household expenses, 22 month if I assume just my half), I max my 401k and with company contributions on track to put about 62k into 401k this year, maxed HSA, maxed backdoor roth, no debt except a very manageable mortgage and no kids and no car. I have a very healthy surplus monthly now which is earmarked for a brokerage account with no further goals needed, it just goes there. This is new territory for me as I just finally reached this point. But I wanted a new TV and have been researching it the last two weeks and tonight just finally pulled the trigger. But now itās 3:23am, Iāve been up for the last two hours unable to sleep dwelling on this purchase. My previous tv is ten years old and was the cheapest one I could buy at the time. The money literally had no job to do, everything is automated now so Iām paying my savings first, this was just going to be parked somewhere for no reason other than savings. But why can I literally not sleep in the middle of the night dwelling on this? I know itās a mental shift, but wtf. Does anyone have any insight to mentally allow a comfortable life style creep to finally move in?
I don’t know if there’s a better place to ask this, so apologies in advance: My former employer went out of business in February and filed Chapter 7 bankruptcy in early March. The company was millions of dollars under water and many people worked remotely. No one ever asked for any of the equipment back (laptop and some monitors), and we were locked out of emails, teams, etc. a few days after the announcement.
I’ve been sitting on the stuff for over a month now, and no one has reached out. In a scenario like this, is it safe to assume this stuff is now mine, or is there a possibility the bankruptcy supervisor (or whatever they’re called) would try to get this equipment shipped back to them? I don’t care about giving it back, I just want finality so that I can know whether or not to wipe the laptop and start using the monitors for personal use or not.
TIA!
Hello! A little background: I’m in my late twenties, and I only recently started contributing to 401k, HSA, and Roth IRA. If my salary is not high enough yet to comfortably max out retirement accounts AND pay living expenses with each paycheck, would it be okay to focus on maxing out retirement accounts, and live off some of my savings(without touching my emergency fund) in HYSA?
**How much money should be in a savings account, and is it a bad idea to keep none in a savings account?**
If I keep enough money in my checking account for paying all my expenses (credit card, rent, etc.), is there any reason not to put all long-term savings in my investment account if it’s primarily in large ETFs like VOO? If money just loses value sitting in bank accounts due to inflation and the market will always increase that money’s value over a long period of time, why not just keep it all in investments?
One drawback is money in an investment account vs a savings account slightly less liquid in case of emergency since it can take a few days for the money to transfer to a checking account/cash, but other than that, what’s the point of keeping any money in bank accounts?
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Is there such a thing as putting more money as a down payment, but after you have already closed on a house?
We are wanting to buy a new home and can put 20% down easily, but might want to put more in to lower our monthly payment. We are going to sell our current place and can profit between 180k-200k. I would want to take some of that cash to finish paying off student loans and a car note, which would be about $46k. I would then want to keep some cash to restock our liquidity from the down payment.
So lets say after all that, I would have an extra $70k-$80k to put towards the down payment. If we close on our purchase house with the 20%, and then a month later get the funds from our sale, can I put that $80k towards the loan to lower the monthly payment? And if so, is there a term for this?