NT: Official Personal Finances Thread

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Unsure if this is the correct thread but a question regarding life insurance policies..

As a contractor, my job changes too often to keep up with the work polices and benefits. Where can I go to set up a decent policy as a standalone?
Try term4sale.com or zanderins.com

Find an independent broker who can shop different companies. You want a cheap term policy with a death benefit of 10-15 times your annual income. Don't buy whole life or universal! Buy term and invest the difference in low cost index funds until you're self insured.
 
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How are the married couples handling their finances?
Shared accounts, paychecks, personal money etc?

Me and the lady talked more about it yesterday..
 

Top Boy

formerly jay patt
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How are the married couples handling their finances?
Shared accounts, paychecks, personal money etc?

Me and the lady talked more about it yesterday..
Best advice I heard from a coworker, one joint account for all bills and expenses. Auto-deposit the same % of your paycheck regardless of who makes more or less, separate personal accounts to do your own thing.

So even if you make 90000 and your wife makes 30000, youre both still putting in 10% of your check and doing whatever you want with the remaining 90%. Imma prolly do this as well
 
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appreciate yalls insight.

In my head we would have 2 shared accounts:

checking or money market account to pay the monthly bills- we both put in the "acceptable/agreed upon amount to cover monthly bills.
Savings account : where we both put in monthly towards our savings goal(s) - emergency savings, trips, just putting money to the side.

the rest is discretionary/ours.
 

cs02132

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Thankfully my dad is a finance/Econ professor so he’s always there to help me out or if I have any questions

My mom on the other hand has never used an atm before :lol: (she’s not from the US) my dad just handles everything
 
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What's the best letter/method to get in touch with the credit bureas and get negative stuff removed from your account? Are there any paid services online that can do the work for you so you don't have to?
Easiest is credit Karma, free, couple clicks
 

titang545

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Best advice I heard from a coworker, one joint account for all bills and expenses. Auto-deposit the same % of your paycheck regardless of who makes more or less, separate personal accounts to do your own thing.

So even if you make 90000 and your wife makes 30000, youre both still putting in 10% of your check and doing whatever you want with the remaining 90%. Imma prolly do this as well
Exactly what wife and I have been doing for 11/12 years, she did not like it at first. However when I get pissed because I make more and have to pay more she came around to doing it this way.
 

titang545

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Currently with PNC and finally had the final straw. I disputed a charge I didn't recognize and told them don't cancel my card because I have to many accounts tied to this card. I go and get gas this morning to fill up, doesn't work. It didn't cancel or terminate it accepted my pin but the whole process was real slow and it eventually timed out. I thought it was the gas station go to another one transaction cancelled twice. I am looking at a few banks and I noticed that Wells Fargo is $650 for new accounts. I then started doing some more research and stumbled across this site listing all the money incentives available right now.
https://wallethacks.com/best-bank-promotions-bonus-offers/
I might open an HSBC Premier Checking for the $750, cancel it then open a BMO Harris for the $700. I was originally leaning towards Capital One but you know they are out after the recent breach. Probably go with Chase Bank for house account, and Tab Bank for savings. Tab Bank is offering 2.40%, in my quick search that is the highest I have seen so far.
 
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What are your thoughts on Boglehead investing? Gonna get started reading some of their books but I like the premise of their investing perspective.
 
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Currently with PNC and finally had the final straw. I disputed a charge I didn't recognize and told them don't cancel my card because I have to many accounts tied to this card. I go and get gas this morning to fill up, doesn't work. It didn't cancel or terminate it accepted my pin but the whole process was real slow and it eventually timed out. I thought it was the gas station go to another one transaction cancelled twice. I am looking at a few banks and I noticed that Wells Fargo is $650 for new accounts. I then started doing some more research and stumbled across this site listing all the money incentives available right now.
https://wallethacks.com/best-bank-promotions-bonus-offers/
I might open an HSBC Premier Checking for the $750, cancel it then open a BMO Harris for the $700. I was originally leaning towards Capital One but you know they are out after the recent breach. Probably go with Chase Bank for house account, and Tab Bank for savings. Tab Bank is offering 2.40%, in my quick search that is the highest I have seen so far.
I’ve done a lot of those bank promos. At first I expected the hsbc $750 and bmo Harris $700 to be tied to a high balance requirement of like 50-100k but they don’t, just need certain direct deposit amounts, those are really good promos. I did hsbc before so I’m prob not eligible but it was only I think $450 when I did mine. I’ve done hsbc, TD, chase, pnc, Wells Fargo, suntrust, and capital one.
 
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I asked this earlier, but it might've been overlooked.

Does anyone have umbrella coverage? What is your coverage limits and premium?
 
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I just signed up for Beam account today, here are the basic terms (not all inclusive) copied from website:
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TLDR- high interest savings account. Base rate starts at 2%, click on the piggie daily to get daily interest rate "boost" for the day. Refer people to increase your base interest rate. It's a startup that completed Beta already. I'm trying it out with 100$

My referral here, we both get 5 boosts: https://meetbeam.com/?r=CASH-BJ-KoanhKz
https://meetbeam.com/?r=CASH-BJ-KoanhKz
 
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48,357
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Let me know how that works out. Simply clicking on the pig won't make it jump from 2/3% I assume right?

The available Rate Tiers as of the date of this Terms are 2.00% per annum, 2.50% per annum and 3.00% per annum.
 
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^I'll keep ya posted, kind of experiment for me too. My first click on piggie went from 1.7% to 2.66%. It lasts for a day, then you'll have to click on piggie again or your interest rate will trend back down to base rate from my understanding. 2% still better than most though
 
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Here's my follow up on beam:
You get 1 Billie/day IF you login and click it from 6-11pm. A billie will raise your interest rate. They don't seem to expire and you can collect them. I put 100$ in it and just been collecting Billies, not using any of them. My strategy is gonna be save up a bunch and use them all to give me a good boost for a few months or year.
Heres what it brought me to experimenting using one :
1570302219910.png
 
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Joined Sep 29, 2012
Here's my follow up on beam:
You get 1 Billie/day IF you login and click it from 6-11pm. A billie will raise your interest rate. They don't seem to expire and you can collect them. I put 100$ in it and just been collecting Billies, not using any of them. My strategy is gonna be save up a bunch and use them all to give me a good boost for a few months or year.
Heres what it brought me to experimenting using one :
1570302219910.png
based on your observations would you recommend?
 
3,706
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Joined Sep 27, 2003
Here's my follow up on beam:
You get 1 Billie/day IF you login and click it from 6-11pm. A billie will raise your interest rate. They don't seem to expire and you can collect them. I put 100$ in it and just been collecting Billies, not using any of them. My strategy is gonna be save up a bunch and use them all to give me a good boost for a few months or year.
Heres what it brought me to experimenting using one :
1570302219910.png
Would it better to hold those funds (or any type of savings funds 20k+) there out an account like Ally (1.9% APY at the moment I think)?

I know you said the bonuses comes from billies and can change daily, but is it worth the hassle? Can you only get such Billies from referring people? And how do you choose when to redeem the billies?
 
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based on your observations would you recommend?
Depends if you're willing to put some effort in. I put on the notifications so app lets me know when I can collect a Billie. There are other lower interest rate accounts that require 0 effort. More $ you have is more $ you'll make and every little bit of interest matters. For me personally, I don't have much idle cash now, so I'll save up billies until I do in several months.

Would it better to hold those funds (or any type of savings funds 20k+) there out an account like Ally (1.9% APY at the moment I think)?

I know you said the bonuses comes from billies and can change daily, but is it worth the hassle? Can you only get such Billies from referring people? And how do you choose when to redeem the billies?
You get daily billie (1) from 6-12pm daily, I have the app give me notification to remind me and I take care of it then. The hassle has been really minimal for me, it reminds me and I open the app and collect (2 clicks). For experimental sake and showing you guys I used 2 back to back, here are the results :
1570647152067.png
1570647167017.png

As you can see they didn't boost me as much as the initial one I posted earlier, so I assume your rate bump is completely random algorithm. 2.67% from one and 4.19% (total) from the second is still pretty high.

My base rate starts at 1.7%, and goes up (permanently) based on having friends who you've invited who "fund" their account. Invite 2 who fund for 2% base, 4 who fund for 2.5%, and 9 for base 3%.
1570647472980.png

This aspect makes me feel like a MLM pyramid scheme, but I think they want to incentivize getting their app out there. I would take advantage of it by having a friend add 1$ (or minimum amount) if this is something you'd want to pursue.

It seems you can acquire very high interest rates that beat out top banks, but requires some effort..
 
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I currently just have a checking/savings acct with chase. I was never told about CD's or High Yield savings accts. Any of you have them? Are there any risks attached to them? Thinking of moving my funds from Chase savings into one.
 
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Maybe i’m old school but my wife and I have all joint accounts. There’s no more my money and her money...it’s all our money and we both gotta decide how and when we spend it.

That said maybe it works because she trusts me to handle the finances. Only context I give her is to keep her spending to $x dollars a month on average and i’ll take care of the rest (investments etc how to grow our funds).

This split works for us. I take care of the wealth and she takes care of the health (cooks, makes sure we eat at home, takes care of the pets etc).
 
48,357
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Joined Jan 2, 2012
I currently just have a checking/savings acct with chase. I was never told about CD's or High Yield savings accts. Any of you have them? Are there any risks attached to them? Thinking of moving my funds from Chase savings into one.
No risks but if does take longer to withdraw funds. Like 2-3 business days
 
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I currently just have a checking/savings acct with chase. I was never told about CD's or High Yield savings accts. Any of you have them? Are there any risks attached to them? Thinking of moving my funds from Chase savings into one.
I have an Ally and Marcus HYSA. They're reputable and I have never had an issue with either. There are others that may yield more interest, but my time is worth more than rate chasing for 10-20 basis points. I am currently in the Marcus HYSA promo period for an extra 1% interest up to $50k.
 
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