16 and stressed about prescription costs for parents Hello, I just want to ask from an outsider’s perspective about what to do about my situation. My dad currently has a medical condition and has received prescriptions that range from cost of $800-1000+ each month (excluding all the doctor visits/operations). My dad retired because his conditions made it too hard for him to continue to work. As a …

Should I help my mom get out of credit card debt? I’m considering helping my mom get out of credit card debt. She owes $10k on one card that charges 27% interest, and $20k on another that charges 11.4% interest. From my understanding, she incurred most of this debt about 8 years ago due to a string of family issues out of her control (including putting medical bills on one of the cards). Now, …

Is my budget okay??? So I make $3,000 a month after taxes. I have $700 for rent, $200 for phone bill (for 2 ppl), electric is $100, food $400, and subscriptions around $60 but rounded up to $100. I’ll have $1400 after expenses and I would like to buy a car so I was thinking about saving 600-800 a month for a down payment for the vehicle. I’m speaking with a finance …

State vs Federal Taxes & TurboTax My federal tax return was two sheets of papers while my state return was a thick stack of papers, is this normal? Also, I’ve been using turbotax for years and when I print my refund to mail it in, it always comes with a top sheet giving me the correct addresses to mail my returns to and general instructions – but this time that wasn’t the case? …

Debt Repayment Strategy I have around $8000 USD in debt. I currently make around 90k CAD per year which is roughly 2300 CAD Biweekly. My yearly bonus is somewhere between 5k-10k CAD. My credit card has an interest % of around 29% (yikes!). I have nearly 70k USD in investments with a return of around 18% in 2024. Would my best solution be: to aggressively pay of with w…

Can/should I wait and pay taxes on capital gains in my scenario? To keep things simple, let’s say my 2024 AGI was $100K and I anticipate my 2025 AGI to be $100K. Then in January 2025 I sold stock worth $500K and would owe 15% for Federal and 5% for state. Rather than immediately paying the $75K (Fed) and $25K (State), can I put the $100K into a CD (or some other stable/low risk account) and make some gains un…

Should I take leave from my job Our company has increased our workload significantly. I do manual labor so this increase has really affected me hard. I cant even get out of bed some morning I am so sore. I am a bodybuilder for 15 yrs so I can handle a ton of soreness and even this is too much. Numerous employees have tried to get them to go back to normal but they are penny pi…

Overthinking backdoor roth? 1) After spending a lot of time reading various sources on backdoor roth to make sure I’m understanding it, I am 99.9% sure that, provided all contributions made to the traditional IRA aren’t initially deducted, and assuming no gains on the initial contributions (say I just add the funds to the trad IRA, don’t invest in anything, immediately con…

GF co-signed a car loan w/o knowing the consequences, now deep underwater, is there anyway out? TLDR: My GF co-signed two car loans with her mom at 19, not realizing the risks. The negative equity from her old truck was rolled into her mom’s loan, but GF is the primary borrower. Now, mom has stopped making payments, owing $45K on a car worth $18K, and is drowning in other debt. We can’t afford to take over payments, and GF is considering b…

How do I allocate my money with low interest debt? I’m 24, I make $70k WFH in NY which after tax, insurance, 401k (6%) is $4k net monthly. My only liabilities is a student loan $3.7k @ 3% and a car note $13.9k @ 3.99% (21’ Honda Accord). I pay $100, $340 per month respectively. My expenses including, car payment, loan, food, gas, subscriptions total $1100. I still live at home with my dad and l…

1098-T refund is taxable even if used on school supplies? Hey there I have a question about my 1098 i just received. I have a little under 2k coming back from excess grants. I am ACTUALLY going to spend this refund on school necessities. Do i just keep the receipt for the stuff I purchase, just incase I get audited? From what i understand if i put this form on my tax return papers, my refund will be ta…

How to find a GOOD financial advisor? I recently started making $150k+ USD per year. I grew up poor, and was poor well into my 30s. I need to find a financial advisor but I have no idea what to look for or how to screen them. How can I determine who’s good and who isn’t? It seems like a lot of trust to put into a stranger. submitted by /u/Gone333

Help me choose one. 60 terms or 72 terms? Thank you! I took out a car loan and plan to pay it off within 1-2 years. The loan offers two term options: 60 months and 72 months, both at the same interest rate. The total loan amount is about $15,000. Since I intend to pay it off within two years, would it be smarter to choose the 72-month term for the lower monthly payment? This is my understanding—…

Wells Fargo holding my $$$ My Wells Fargo $150k CD matured on February 1st. That day I called and requested that the funds be transferred to my savings, also at Wells Fargo. Five representatives later….money has still not been transferred to my savings. “Your request has been escalated and will be resolved within 10 days”. Why?!?!?! submitted by /u/ljcnb2022

My FIL is dead and left behind bonds in an unknown name My husband’s father has been gone for several years and left behind a whole bunch of matured savings bonds. The problem is that several of these bonds were left payable upon death to “Jane Smith” (name changed for privacy) and no one in the family knows Jane Smith and we can’t find her anywhere. What should we do here? Please explain like I’m 5…

Should I recast my mortgage? We bought a condo in 2023, on a $390K 20-year fixed mortgage at 5.875%. I made a $58,500 lump sum payment when we sold our old house, but didn’t recast the mortgage, figuring I’d refinance when rates came down a bit. Of course, that hasn’t happened. I’m pondering recasting the loan. The loan matures in 2043 but with the lump sum and no recast wo…

Went through a bad time but now I have 7k in savings and 5k CC debt? What to do? Do I pay off all my debt or just half? It’s nice to finally have money again.. I was laid off and took me months to even get unemployment and then I came into some money from a settlement. I’m looking for jobs but now receive 940 every 2 weeks for unemployment. This helps with bills forsure. I don’t want to use all my money to pay off my debt in…

Never had credit before, but bad credit score? (I just turned 18) Hi there, I just turned 18 about a month ago and I was just looking around for credit cards and stuff to try and build a good credit score early so I’m set for the future. I’ve never had any sort of credit. But my credit score is poor. Why is this? And how can I build a credit score if I can’t get accepted for credit in the first place! sub…

Looking for confirmation that I SHOULD close my credit cards All, I searched the wiki and page first, so I if I missed something, please let me know. My wife and I have 4 credit cards. Long story short, she cannot be trusted to carry a card as she maxed them out. All of them. Four. It’s my fault for not keeping an eye on things, but whatever. I’ve taken out a structured loan to pay them all off. Consider…

Family member giving me 20k to pay for divorce I hope this isn’t a dumb question but hoping someone can help before I go to my bank. My divorce has been finalized and I owe my ex 35k. Due to the nature of everything my father is giving me 20k to cover some of it and I have the rest to pay my ex. Can he just deposit it into my account? Is that taxed? I am just trying to figure out a way to do…