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Confusion on bi-weekly budget (monthly or 4 weeks)?

Hey everyone –

I may be overthinking this but I figured I’d ask. I am paid bi-weekly and I’m kind of worried I budgeted wrong. You see – I simply took my after tax yearly income and divided it by 12 (thinking it would give me an average monthly budget). In the budget section of the subreddit it’s saying to budget for 4 weeks – instead of having a monthly average.

If I were to do this it kinda wrecks my whole budget (ie. my rent is 30% of my income… that turns to like 34%). But I don’t want to screw myself over either…….any thoughts? Thanks!

I got an email from American Express

which said that I am eligible for a credit limit increase if I update my income. My question is, how would AmEx know if I am telling the truth.

For context, the only account I have with them is a Blue Cash Preferred credit card that I have had for the past 2+ years. I have always paid the monthly statement balance in full. I last updated my income with them when I applied for the card 2+ years ago.

Options for $20-30k loan?

I want to pay off my condo by end of the year and still owe $46k. I have $20k cash but need some more to pay it off by end of the year.

What are my options? Looking for the cheapest option and need 18 months to pay it off

Student loan repayment options

Ok. We have $75k about to go into repayment at 7.6%. I applied for income based repayment, which is $900/month. Wife suggested taking a 401k loan at 4% to save on interest. Max term on the 401k loan is 7 years. This sounds like a bad idea to me, as the payment would go up, plus her 401k would be losing possible market gains.

Warranty Claim & Compensation

My parents dishwasher started leaking recently and fortunately, they had purchased an extended warranty.

On July 25, the warranty process was initiated and on August 1, a technician came by and wasn’t able to fix it (in fact, made the leak worse).

They followed up with the warranty company to ask for a resolution three times after that visit (day after, 3 days after, and 4 days after) to escalate and finally, another tech was sent scheduled.

On the day before the scheduled visit, the tech had to reschedule to 3 more days later. The tech arrived and determined that they needed to order parts.

My parents got an email 3-4 days later stating that a monetary compensation was to be expected in the next day or so.

Given how long the dishwasher has been offline for (a little over 3 weeks), and it being 2.5 years old (purchased for $650 + $80 extended warranty), what amount should they be expecting in compensation?

va-4 form help. spouse works I just started working.

Hi yall,

I need help with va-4 form as I just started working recently.
I have been staying home with kids since last November and my wife has been working ever since.
Now, I am confused since I have only filled out W4s in the past..just fyi, last time when I was filling out forms like this, my company’s accountants just asked me few questions and filled it out for me, so I’m not so “educated”..and before that I was working and my wife stayed home with kids…so this is something new to us. Lol.

We have two kids.

Do I claim myself or not?

What is the line 4 would be then?

Thank you.

Question about credit limits thru multiple banks

Hi all,

I have credit cards open with 3 different banks, and a pretty good credit score, but I seem to be bumping up against my limit when it comes to credit increases (perhaps based on my income?) I was wondering if closing a card with one bank (let’s say it has a 10k credit limit) would then cause one of the other banks to be willing to increase my credit limit up to that amount (or something at all) – I know that hurts my credit score, just wondering if my credit cap is per-bank or total.

Thanks!!!

Insurance denied toddler’s emergency room visit

We took our (then) one year old to the emergency room last December for RSV. We didn’t know he had it at the time he was just very sick so naturally that is what any parent would do. We aren’t the type that will just go to the ER. He was really sick : crying with nose clogged, coughing, having trouble sleeping etc.

We just got a bill now 8 months later for $500. We thought it was already taken care of since we always pay bills on time but upon talking to the provider they said it was because the insurance took a long time with the claim and ended up denying it saying they aren’t responsible. The provider couldn’t give me any reasons why and said we have to talk to the insurance.

My wife no longer has that insurance so I’m hoping that won’t be a problem. I feel like they might say they denied it because it wasn’t a real emergency. Well what do they expect? Wait until he stops breathing, plus what if he had covid?

If they say this then what can I do to try to get them to cover it? Do I have any options? Thank you in advance.

Can I get us out of debt?

So as the title says, I’m looking to clear all debts besides the house.

I’m 28, my wife is 27. We have 3 kids, all in school. They go to an in-home daycare for an hour before school and about two and a half after. (Kindergarten, 2nd grade and 4th grade)

Both my wife and I work full-time. Income is around as follows:

Wife: $37,440 ($18/hr 40 hr week) there are variable Saturdays that I haven’t accounted for since she’s starting this job on Thursday.

Me: $46,930 ($19/hr + 5hrs overtime @ $28.5/hr) I am able to get around 3-5 extra hours of overtime every week if I want/can. So at best I can bump up to $54,340. I also receive two bonuses a year, one in the summer and one on Black Friday. The summer bonus is usually $500, except last year and this year has been $4,000 and the Black Friday bonus is around $1,500-3,000. Raises are yearly in January every year, this year will be inflation based so I’m *hoping* for $2/hr more. This would get me to $51,870 at regular work time, or $60,000 following the same high end of overtime I can work as mentioned.

Current bills:
Mortgage-$971
Car-$401
Motorcycle-$193
Car Ins-$154
Motorcycle Ins-$27
AT&T-$315
Electric-$200-300 depending on weather
Water-$124
Gas-$30-150 weather pending
Groceries-$700
Babysitter-400
Internet-$86
Subscriptions (Hulu Netflix Amazon) about $45

A grand total of $3,696

Monthly income of $7,030 before taxes. I’d average it to around $6,300.

We’re left with about $2,600 not including gas for 2 cars (I don’t ride the motorcycle every day) cigarettes (we both smoke and hate it) school stuff and sports for all 3 kids and all other incidentals that come with life. We’re essentially at zero every month.

SO, here’s my plan. We both work days, I currently work 7:30 to 5pm she’ll be 9-5. I can bump up my overtime and work 6:30-5 as well as work an overnight job at PF which I have an interview for Friday. 9pm to 5am. 5 days a week. Hopefully with my work experience I can start at the max the posting had of $13.75/hr. This would give us about $2,000 extra a month. There’s $13,307 left on her car and $6,969 on the bike. If I save every red cent from this second job both could be paid off in 10 months. This would clear up $600 a month, essentially our food bill.

So I guess I’m mainly looking for advice, maybe someone who has done the same thing to pay off debt.

Options w/Car Lease and Mileage Issues

In April of 2021, I leased a vehicle which given the market at the time, ended up being a good deal, especially for this particular vehicle. I ended up going with a 30K mile limit/36-month lease. Mileage overage of $0.25 per mile. At the time, I was traveling a modest amount for work, but my territory was compact enough that 10K per year shouldn’t have been too significant of a challenge to manage.

Fast forward 6 months later and I unexpectedly had the opportunity to transfer back to my home state, relocation paid, and continue my same position. However, this would come with a much larger territory in the new state. I took the offer and I have zero regrets on that end. The problem though, is my travel has increased a very significant amount, and much more than I anticipated. Currently I am now only 15-16 months into the 36 month lease and already at 25K miles. I am starting to panic about the implications. The way I see it, I need to quickly weigh my options and possibly act fast on what I do next:

Option A: Hang onto the lease and watch the mileage climb. Where will it stop? Nobody knows. Will I remain in the same role another 1.5 years and travel another 30K miles? 40K miles? Then take it on the chin for thousands of dollars in overage fees at lease-end….yikes.

Option B: Try and sell my lease ASAP for what I owe + the residual (~$45K combined) and find a new vehicle and a traditional auto loan given my increased travel. I have not started shopping around for appraisals yet, but Carmax, whom I have sold two prior non-leases vehicles too with good success, gave me a high end online estimate that comes in at $43K 🙁

Option C: Ride out the rest of the lease and pursue a lease buyout loan at whatever the hell the interest rates might be at that point. I do love this vehicle, but not exactly enthused about the prospect of paying more a month than my lease for a well-used vehicle 2 years from now. I also view this as shortsighted because while I might be dodging the overage fees at lease end, I’m ultimately going to pay well beyond that in interest on a buyout loan. Plus, can a lender say that it’s not worth the residual value and therefore not even want to lend?

Option D: My employer allows us to use rental cars for work related travel. In doing so, you give up the mileage reimbursement you get for using your own vehicle which traditionally is akin to a second income with my current travel. Also, the thought and inconvenience of trekking with my wife 30 mins to end from the airport each week to rent a car sounds like a massive PITA and also adds mileage to the lease in the process.

Option E: Something I might not be considering or am unaware of. You tell me?

TL;DR — Going to likely blow way past mileage limitation on lease and want to consider and act on any options ASAP.