Will not paying full balance impact my credit score I am a 22 yo student. I have been using my credit card since 18. This month will be the first month I won’t be able to fully pay off my card. I have a 20k limit, and I think I will have $400 not paid off. My intrest rate is 20.99% annually Will this impact my credit score? I will graduate in May, and hopefully start working. I don’t want to le…

Debt collector trying to collect 10 year old debt As title says. Ten years ago I had an account with Sprint with my then partner. Between being young and stupid, and situations with my ex, the account was closed. I honestly forgot about it, but I just a letter from a debt collector. I’m in ohio, and from what I’ve been able to find the statute of limitations is 8 years. On top of this, it says …

Recent Dual Citizen Without SSN or TIN Struggling to Open Bank Accounts in Canada —Seeking Advice First-time poster here! I’m a 21-year-old Canadian, born and raised in Canada. My father is from the US, and my mother is Canadian. They met in the US and eventually moved to Canada, where I was born. Thanks to my father, I got dual citizenship and a US passport about two years ago, which is great! However, aside from visiting family in the US o…

Xhusband reopened a credit card with me as an authorized user that was closed after the divorce. If this isn’t the right sub if you could please point me in the right direction let me know! Ex-husband opened a USAA credit card when we were married and set me as an authorized user. I didn’t know at the time but I discovered it in the divorce process, when the divorce was finalized I had myself removed as an authorized user. USAA let me know…

Low Income dad ($52k) with $15k to invest. Help! Top of the afternoon to you all. I am a young dad (27 years old) of 3 kids all under 6. I am going to do my best to get straight to the point but feel context is important. I am selling my house within the next 2 months and will be sitting on $70-75k in profit. I plan on paying off my debt (maybe $10k worth) then I want to create an emergency fu…

I have $30k and no clue what to do… I’m 20m i’ve been saving for the past 2 years non stop. i have around 26k in HYSA and rest in checking/cash and $500 into crypto. I have little no to expenses and save 80-90% of my income. I originally was saving to buy a nice Mercedes, and i’ve very glad i didn’t. (35k ish car) I make 4-5k a month i’m currently putting away atleast 3k a mont…

Need tax prep advice For several years, we have always paid someone to do our taxes. We do this partly becuase we just don’t want to deal with it but also because we want to make sure they are done correctly. The person we are currently using is a CPA, but also an Enrolled Agent with the IRS. When we were searching for someone to use I specifically looked for someo…

My financial situation has become more complex in the last year. How hard is it to actually do taxes myself? I’ve always done my taxes myself because I was single, no kids, and had one job. This year I got married, bought a second horse, worked two jobs, paid out of pocket for tuition for my Masters degree, and started an llc to rent out our old house. I’m pretty good with numbers and software; is there any reason to think I should pay a tax person? …

401k to Roth IRA Conversion – Does it make sense for me? Hi PF, I am in my late 30s and until recently, have just been putting 10% into my 401k without understanding investing or tax advantages. I am starting to get into personal finance and now I understand that a Roth gives me the advantage of not being taxed on the growth of my investments, unlike the 401k. My 401k has just north of $100k in it. M…

Gifted I-Bond – Leave it or cash out and move to IRA? I was gifted an I-Bond of $5000 by a very generous family member, and it is past the one year issue date so it can be redeemed at this point. I don’t have access to a 401k but I do have a Roth IRA that I just recently started funding last year. I have no debt besides my mortgage, however I am behind on retirement and working hard to catch up on …

How do I get rid of one penny left after rollover? I completed a rollover from a 403(b) held at TIAA into my IRAs. Because I had both Roth and traditional contributions in that account, it was two transfers into the appropriate IRAs. Due to some sort of rounding error, I’m left with $0.01 in the account. Obviously this doesn’t really matter, but it bugs me. 😂 How do I get rid of it? Will it go a…

Starting from square one I’m 26 years old (27 in June), working as a cashier at Walmart making $17 an hour, highest degree I have is an AA (I stopped going to college because I was tired of spending money on it), I live with my parents because I’ve wasted money on partying the last 7 years (finally decided to live below my means so I can start paying off my debts and sa…

Im financially illiterate, how do I getting started? I’m 30 years old and married. My wife and I both came from families that don’t have much. Neither of us have ever really been taught how to budget or invest or anything like that. We have done ok so far by hard work and generally not being irresponsible. But, recently I’ve had the sudden feeling that I’m really far behind the curve. In my 20s we…

Buying a house as a low income family My fiancé and I are looking to move out of state in about two years and we would really rather buy than rent. We’ll be married before we start seriously looking. I’m just gathering information at this point. We both have credit scores in the low 600s. I’m a stay at home mom and he makes $45k annually. Right now we live in a mobile home owned by …

I contributed to my Roth IRA but my income is over the limit So I always contribute the max limit in the very beginning of the year so for 2024 year i contributed 7k basically in January. I’ve been contributing for a few years so I totally forgot about income limit I just always contribute all of it in January to max out return. But my income for 2024 ended up being over the limit for single filer but it …

Elderly FIL paying off mortgage My in laws recently downsized (Aug 24) taking out a mortgage of $100,000 with 6% interest. MIL then unexpectedly passed (Nov 24) leaving my FIL a significant life insurance policy, 500k. My FIL is not in good health and likely will need to move into assisted living in the next year. He wants to pay the house off in full. Any advice as to whether…

Has anyone found that Life Insurance is not necessary at some point? Hi everyone. I was wondering if anyone has come across any reason, or realization, that life insurance isn’t a necessity after accumulating enough wealth. We don’t have life insurance and for years we were told to buy, at minimum, Term Life insurance to cover our mortgage +extra in case anything happens, but we’re at the point where we have enou…

Preparing for layoffs Hey guys! I work in tech and like clockwork, every singe year I dodge layoffs until I’m hit. I just found out there’s a potential merger happening at my company and I am already concerned. Based on their cost savings plan, a lot of jobs will go away. I’ve gotten signs I will be one of them. Here’s the deal: I have only been here 8 months. My …

Very confused i have a negative balance when it shouldnt be So on the 20th i made a last purchase that left me with about a dollar in my account. but i was over the negative because i didnt purchase some for over a dollar, then on the 21st i made a transfer of 33 dollars to my account that was supposed to clear today . Today i look at my account and i am over 60 dollars in the negative because my withdra…

I have 8k in a 401k from my previous job. Advice on what to do with it? Hey y’all! Need some real help since im not good with finances and financial terminology. If this isn’t the right sub please direct me to a better one! Im 29, and have lil more than 8k in a 401k plan from my previous job. I have options(probably common ones) and need some insight! Opt1: Withdraw full/partial amount for myself? It said i’d have …