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This week’s Community Announcements 2.19.21

Maryann
Hi everyone, How is everyone doing? Comment down below. I’d love to hear what everyone’s up to this weekend. For our book club participants, @Nicole D. sat down for a Q&A conversation with the author of “Napkin Finance” Tina Hay. ICYMI: here’s a link to the recording . It was a fun conversation, so thank you to everyone from this community who showed up. What personal finance book should we read next for the book club? Are you signed up for The Penny Hoarder’s SMS program? You can sign...Read More...
I just listened to a recording of the live interview with Tina Hay. It was very informative.Read More...
Regarding the next book club offering, I'd like to suggest How to Make Your Money Last by Jane Bryant Quinn. Even though it's directed towards those near or already in retirement, the principles are helpful for all ages and/or can be passed along to the pre-retiree or retiree in your life.Read More...
Good Monday, you all! Hope it was a great weekend.Read More...
@Mexpensive, you might want to do some research for information pertaining to your state, but I always thought that once a debt is charged off, that's the end of it. Also, there's typically a statute of limitations for debts.Read More...
Last Reply By Brigat · First Unread Post

What we're talking about...

Happy Monday, friends! I hope you all had a wonderful weekend. It looks like the newest relief bill will pass in the next couple of days. This round includes $1,400 stimulus checks, an expansion of unemployment benefits until early September and a bigger child tax credit. I'm compiling some FAQs about all three of these topics. If you have questions about stimulus checks, unemployment or the child tax credit, please ask away and I will try my best to answer!Read More...

Has anyone used Fundrise or DiversyFund for real estate investing?

Forum: Investment
I've been thinking about trying one of these 2 funds to dip my toes in real estate investing but I can't find much information (opinions) on people's experiences with them. My financial advisor was "so-so" about them. "Play with them if you want but don't put the bulk of your retirement in them." So I'm hoping that some people here have some experiences to share with these two. Thanks!Read More...

Where to put money in the meantime

Forum: Investment
I have about 200 thousand dollars to pay for my kids' college over the next several years. It is just in a savings account, but I am wondering where would be better so I make some interest on it, but am able to take some out every semester. Any thoughts? Thank you!Read More...

Community Buzz

Happy Monday, friends! I hope you all had a wonderful weekend. It looks like the newest relief bill will pass in the next couple of days. This round includes $1,400 stimulus checks, an expansion of unemployment benefits until early September and a bigger child tax credit. I'm compiling some FAQs about all three of these topics. If you have questions about stimulus checks, unemployment or the child tax credit, please ask away and I will try my best to answer!Read More...

Upcoming Virtual Event With “Napkin Finance” Author Tina Hay Featured

Forum: Book Club
Nicole D.
Hey everyone! In case you’ve missed our announcement Monday, I’ve got some exciting news to share! Tomorrow, The Penny Hoarder will be hosting a virtual Q&A with “Napkin Finance” author Tina Hay. Mark your calendars for Thursday, Feb. 11 at 2 p.m. ET and join us on The Penny Hoarder’s Facebook page , where we’re sure to have an interesting and informative Facebook Live discussion. We’ll also be giving away five copies of “Napkin Finance” during the virtual event! For a chance to win,...Read More...
Hi @Latonia Whitley ! We haven't yet finalized the next pick for the book club. We're trying to assess the best way to move forward with everything, but I'll be sure to make an announcement once we've decided on the next book!Read More...
Would like to know the name of how the current book and how to obtain it the club has started. I'm new to this and really need to learn how to budget and save.Read More...
I'm glad you were able to watch later, @sthom ! And thanks!Read More...
I missed the live event but did watch later on Facebook and what a pleasure. I've been unable to participate in the overall book discussion as I intended. Have been out of pocket for a few weeks due to some health issues. But...Tina Hay's discussion with you was brilliant, Nicole. And, what a sweet face you have, if you don't mind my saying.Read More...
Last Reply By Nicole D. · First Unread Post

How long do you keep paper records?

Forum: Taxes
Jobelle Collie
I’m keeping three years of paid bills. Anything that seems important to proof of purchase, insurance claims, I keep those longer. If I have my bank statements, do I need to keep the carbon checks?Read More...
I like to keep my IRS returns for 7 years per their suggestion, especially if the returns tend to be complicated like ours. We receive almost all of our bills via e-statements which minimizes the amount of paper we have to dispose of.Read More...
Every year I go through important documents and shred everything after 3 years except major purchases, I keep receipts until I replace them. I just really hate clutter and unnecessary stuff hanging around.Read More...
Longer than I should. I mean from 1990, which is ridiculous. I need to purge.Read More...
i was told to keep all records for 7 years, i just started getting rid of some, being my husband passed away five years agoRead More...
Last Reply By Brigat · First Unread Post

Finances and Extra streams of income

What bills should I delay if some business are offering those services? Also, are there any services I can do as a part time gig while I’m working from home?Read More...
I'm with you, @My Garage . Always have more than one source of income.Read More...
i so enjoy learning from you all thank youRead More...
Good list from Dear Penny. Definitely saving those too, thank you. Since I have a day job and a part time job, I try to look for another passive income that doesn't require much work: I rent out my stuff that I don't use much anymore. You can check your local rental shops but I do recommend MyGarageRentals.com since it's free to list there and has no limit.Read More...
I'd review the largest recurring costs, home/car insurance etc. I run a free site called myenergycosts.com that ensures you always pay the lowest amount for energy.Read More...
Last Reply By sthom · First Unread Post

Bank account question

K_87
Hi, I have a question regarding bank account information. When I was 18 (I'm 34 now) I opened my first bank account at Bank of America. Every month my grandparents were supposed to deposit $1000 (my dad died when I was 11 and the money they were supposed to deposit was my inheritance). However, they stopped making the deposits without telling me. Evidently, my mother and grandfather had spent a lot of it prior to my 18th birthday. They had access to it until I was of age. As a result, I had...Read More...
Maryland Statute of Limitations on Debt Collection Take action if you have been sued or served with a lawsuit. Failing to act will allow the creditor to get a judgment against you. Once that happens, they can garnish wages, attach to assets or property, and pursue this for 10 or more years thereafter. It is important to read the summons carefully and follow the instructions provided. Call for help if you need it. But most importantly, don’t be late. You may have a defense to the lawsuit such...Read More...
I know of only one bank in my area that doesn't do a check to see if one owes a bank money. I think you will just have to try it and find out. Did you pay the amount in collections? That might be a selling point for you. If not, then try a smaller local bank that will take time to listen and look at you as a whole person. Maybe a credit union?Read More...
Last Reply By Shannon H · First Unread Post

Unemployment Benefits - Part Time Job

I was furloughed for 30 days from my part time job. I am fortunate to still have my full time job which is where most of my income comes from. My part time job did pay well so the extra money I will be missing will hurt a little. Any recommendations on whether I am eligible for any unemployment benefits??Read More...
I'm echoing other's responses and saying IDK, but you should definitely apply and find out!Read More...
Any work from home appsRead More...
good luckRead More...
Google for your states Unemployment Web site. Use that to get an account and sign up. A few easy questions gets you an answer in a week or so. You go back to the web site to see results more quickly but it takes a week or more. Move around the website to find out where what is at. They also sent a paper letter with results. Be patient and don't panic until you actually see dates and benefits amounts.Read More...
Last Reply By KellyFromKeene · First Unread Post

$600 stimulus checks

lismox
Just curious, what did everyone do with the most recent (individual) $600 stimulus check? Mine went straight to credit card debt! Any plans for the next one ($1,400 each, if we get one). I try not to look too far into the future but another stimulus check would be awesome sauce!Read More...
Hi i saw something on this website. You have to keep scrolling. Sharon https://mmcp.health.maryland.g...0for%20Medicaid.aspxRead More...
We live in Maryland.Read More...
Hi i have a friend on disability who gets Medicaid in PA and she doesn’t pay much of anything. She is 63. What state are you in? SharonRead More...
It is just ridiculous to think we worked so hard all our lives (I started at 15 and now I am 65) and I can't afford my meds either. I have Medicare, a Medicare supplement and Medicare part D (RX), and my deductibles are all due. My deductible for my supplement is $1,000 and my RX deductible is $500. I would move to another country to with better health care if it wasn't for my great-grandchildren whom I'm very close to. I get so **** tired of the struggle. I had to go on disability at 62 due...Read More...
Last Reply By SHurley · First Unread Post

Convert Amazon Gift Cards into Cash

Does anyone know of any websites that you can sell Amazon Gift Codes for cash? ThanksRead More...
Thanks for the info, will check out Raise.com.Read More...
hi lismox wow thanks for sharingRead More...
I've sold gift cards on Raise.com and Ebay before too.Read More...
I frequently buy Gift Cards on Raise.com I have never bought Amazon gift cards as they are always out of stock when I check but I believe you can sell gift cards on the site. (you will get a little less than the actual value of the card) Quite a few people also sell them on eBay. Maybe try asking friends or family if they are interested in trading you cash for your gift cards if they purchase frequently on Amazon?Read More...
Last Reply By redcatcec · First Unread Post

paying taxes and social security taxes

Forum: Taxes
Tammeylupie
My fiancé is on social security disability and has a side gig. The side gig is considered as self-employment (DoorDash). When we did his taxes on TurboTax it said he had to pay $257.00 to the federal government. It then asked if he wanted extension to pay the social security admiration back their share of taxes. So we said yes. It took the amount that he owed to the federal government and it applied to the social security admiration. Now it says he owes nothing to the federal government.Read More...

Tax return

Carl Osborne
Filled out tax return..and was going to receive 2,424...clicked on receive 1200 stimulus checks for me and my wife...and now I'm getting 24.00...I'm a little confused about this..they took stimulus money back..is that right or do I need to go somewhere else???Read More...
I read this though - - In the somewhat longer words of the IRS: “No, the payment is not income and taxpayers will not owe tax on it. The payment will not reduce a taxpayer's refund or increase the amount they owe when they file their 2020 or 2021 tax return next year. A payment also will not affect income for purposes of determining eligibility for federal government assistance or benefit programs."Read More...
Thanks for the heads up how the stimulus funds can affect your tax return.Read More...
Thanx...I never realized that money would come out of our taxes..but than again nothing is free unless you are on some kind of assistantsRead More...
Recovery Rebate Credit is what it's called. If you did not get the second stim payments they will add it to your refund. Be aware if you filed and claimed the credit then receive your stimulus prior to the IRS processing your return they will deduct it before releasing your refund.Read More...
Last Reply By Jessey · First Unread Post
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