Credit Card Utilization Hello, I just opened two credit cards for the first time to build up my credit. So I’m treating it like a debit card and will auto pay everything off each month. My question is regarding utilization rate. Let’s say my credit limit for the two cards are $1000 each. I’ve read that having a utilization rate above 30 percent is bad. So that means I …

Rental Property or Paid Off Home? All things being equal, would you rather have a low maintenance rental property worth $450K generating $12K per year or sell it to have fully paid off main home? submitted by /u/evilchuck11

Looking for idea on how to invest a bunch of old 401K accounts. So through out my consulting career, I’ve amassed a bit of 401k accounts. I have $5,000 here, 7,000 there, 4,000 there, and one that’s around $70,000. I’ve left them in their accounts for quite some time but trying to figure out what would be the best course of action for these accounts. I’ve heard of people saying to invest in S&P 500 etc. I’ve…

Father passed away and we are trying to manage the aftermath Hello, my (31m) father (71m) passed away last November. My father was a poor man and didn’t really have anything to leave us. Im not complaining, he did his best in raising us and im thankful for all he did. I helped him out when i could by fixing things or gifting him things he needed. My sister hasnt done as well career wise as me, but she has…

28 Single, Financial advice much appreciated 28F | $84k/yr | Expecting a Raise/Promotion in March (Requested $120K) Savings & Investments: 💵HYSA: $17,150 💵401K: $6,600 (paused contributions) Monthly Expenses: 💳Rent: $2,330 (about 50% of my take-home after health insurance) 💳Wi-Fi: $50 💳Electric: $125 💳Gas: $50 💳Car Insurance: $150 (boyfriend pays it since I provide the car) 💳Prescriptions:…

I’m 26 and I give my mom most of my paycheck. Should I get another full-time job? Like the title says, I’m 26, live and work at home with younger siblings and one parent, and my paycheck helps with rent, bills, and groceries. We recently moved out of a rougher area, and before, all I had to pay for was 1 bill and every other grocery run. Now, I get around $400 in spending money per paycheck ($67k salary), and the rest goes wh…

HSA Contribution and Tax My employer contributed to my HSA last year. We haven’t done any transaction in that account, only the balance with the employer’s contribution. Do we need to file tax on their contribution? How should we proceed? They didnt send us any tax form to be included in our file submitted by /u/Something-5161

What are good intermediate term investments? Hello, I recently sold a house and put most of the extra proceeds into my 401k. Ive got maybe 37k I want to invest for short term 3-5 year goals like upgrading our house etc. I already have an emergency fund. Where do you put money to grow it on an intermediate time frame and do beetter than a CD or bond but not as high risk as index? Thanks! …

Considering selling my car at the end of the year for extra moving funds Currently in an apartment that is over my new budget for myself as I want to start focusing on rebuilding my savings in my 20s. I’m locked into my lease until November and I do have the funds to afford this and still pay off minimum payments and afford groceries; however, I just want to be able to make sure I can do a deposit for a new place. I …

Should I Pay Off My Car Loan or Contribute to My IRA? I recently purchased a car with a trade-in, leaving me with a total car loan of $16,358 at 6.2% interest, with a total finance charge of $2,204 over the loan term. However, if I pay off the remaining balance now, I would only need to pay $14,154, avoiding the extra interest. I have the ability to pay the full $14,154 immediately, but I’m conside…

Parent has been incorrectly claiming me as dependent on taxes. Can I amend my 2023 taxes to override this? I am 21 and a full time student. I live on my own and support myself. I am very low contact with my parents, they do not financially support me. I qualify for a tax credit for my education. I realized that I should’ve qualified last year too, but I was incorrectly claimed as a dependent by my mother. At the time, I didn’t think there was any har…

KIA Finance reported false delinquency after lease payoff – account shows $0 balance and 100% payment history. How to dispute? I recently closed my KIA lease after paying off the remaining balance in full. Two months later, KIA Finance reported a ‘negative pay’ delinquency on my credit report, despite the account showing a $0 balance and 100% on-time payment history throughout the lease. This seems like an obvious error since I have documentation of the completed payoff…

Company accidentally funding a 401k without deducting my wages I had originally put in writing that i wanted to sign up for the 401K plan during orientation and was supposed to have a meeting with someone in payroll to set it up but i never did. Suddenly i get a quarterly report of my 401K mailed to me with a balance of a few thousand. 100% vested. my paychecks have never been deducted. What should I do? Ca…

Separating, how do I sell the house to my wife? I’m just starting down the road to a legal separation. We’re planning on mediation w individual lawyers as well, but have not yet consulted with any other than intro conversations. We have discussed my wife buying me out on our house-essentially giving me half of our equity in cash. My question is, how do I remove myself from legal responsibili…

Drowning in Debt and No Way Out – Just Waiting for the End I don’t even know why I’m posting this. Maybe just to get it off my chest before it all comes crashing down. I’m $96,532 in credit card debt. Another $52,129 in medical bills that I’ll never pay off. My student loans have ballooned to a number so big it makes me laugh. I barely make enough to cover rent, let alone pay anything down. Every month,…

Taxable brokerage set up under my name for minors, how to “give it back” without tax implications (higher tax bracket) I set up a taxable brokerage for younger siblings while they were minors with 10k inheritance. What’s the best way to transition or transfer ownership of the investments. But recouping any previously associated tax implications (formerly low tax bracket) or fees from the account? Current thought process – find any fees / taxes I’ve paid for the…

Elder parent finance question – when to assume control of finances My mom is an 82yo widow whose primary source of income is social security. She owns her home. She lives pretty modestly. I am on her bank account. Yesterday she was phished and ended up driving to Home Depot or target to get gift cards which she then provided via the phone to the phisher. I think it was around $900. She feels really stupid. It’…

Bought a new car but I drive so little. Was it a waste of money? I drive less than 3000 miles a year. I’m not sure if I made the right decision or not to be honest. I rarely go outside and last year I bought my first new car. It was both a first new car, and a first my car (under my name). I’m 35yo. When I was looking for a car I actually wanted a tiny car (size of a fiat500/smart fortwo). But I got pressured…

Does vehicle purchase or car insurance payments have anything to do with taxes? From USA in 20’s. In 2024 my dad bought me a vehicle and he purchased the vehicle and bought it full price with his own money, but the vehicle is under my name. Do I have to put anything down or indicate this purchase of vehicle when doing taxes? How about the monthly paid towards car insurance for the vehicle? From state that has state taxes …

Inherited IRAs – not sure what to do with them Hi! I recently inherited a portion of my grandfather’s retirement accounts after he passed away. The funds are sitting in inherited IRA accounts with Vanguard but aren’t currently invested (they’re in settlement accounts). I have about $10k in an inherited IRA and $5k in an inherited Roth IRA. I’m honestly just confused about what I’m even allow…