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Hello new members!

Briana
Hello and welcome to the new Penny Hoarder Community! My name is Briana, a Social Media & Community Strategist at The Penny Hoarder. I'm in the process of paying off credit card debt and establishing a healthy relationship with my finances. I'm also saving for a long-awaited trip to Greece next year!Read More...
Sounds like you got a lot on your plate right now in addition to everything else we are experiencing this year, which seems like five years long! I am a new member also and are still learning my way around the site and gathering information. Good luck to you ! Kathy S.Read More...
My primary financial goal is to save money but a home for me and my family.Read More...
Last Reply By Kathryn Spencer · First Unread Post
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Car sale

Does anyone know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Carvana, Peddle and eBay? Or if anyone would be interested in buying a car, I can send deets.Read More...
Sure, it is a Jaguar XF 2010. It primarily needs the brakes replaced. It is located in Maryland. I have it selling for $7500 currently but I'm willing to negotiate the price because I would like to sell it immediately. I sent you a link to pictures and other information about the car on eBay. Thank you.Read More...
Can I get infoRead More...
Last Reply By mememe · First Unread Post

Aspiration Bank

Forum: Save Money
Angela Strachan
My experience with Aspiration has not been what I expected after following advise using Penny Hoarder. Yes it's true about the free atms but the cash back is not true. They actually take a small amount of your money every 2-3 days $2.78 & $3.14 for example and it goes towards planting trees. I'm all about saving the planet and I've been reading the Penny Hoarders different blogs since 2014. I actually love it. But this bank be very careful. They will not allow you to close your account...Read More...

Paypal

Forum: Make Money
Danny Vaega
While we on covid quarantine from the beginning making money playing games apps also online games could cash out money apps/money just like that for over thousands of times for people's payouts have cashed out like that's awesome but now now it hard to cash out or withdraw money I just can't I believe I missed out I didn't know about it like I was into to sweepstakes but the money making apps been cashing out like crazy over 10,000 people that what I have read last time so far now Im having...Read More...
Among my favorites are Quora and Medium. I also see many Quora answers showing up in Google search results for high volume search phrases. There are several great sites like the Penny Hoarder to be a member off. But it always is and always will be about offering value. Personally I think audiences are getting rather annoyed with copy/paste content. Being a member on these high authority sites like the Penny Hoarder. Is all about building recognition and gaining trust through presentation.Read More...
Oh, I do like some Reddit financial feeds for Mint and YNAB. I don't use YNAB but like reading about it. I do subscribe to Mint (which I mainly use for tracking) for 6 years now. Where'd the time go?Read More...
Ditto, @Moore Income . Noting to compare. I subscribe to various financial sites, but no forums other than a medical forum. PH is tops in my opinion.Read More...
Last Reply By sthom · First Unread Post

401K

Derek Brammer
Dear Penny Hoarder; I have 3 separate 401K accounts from 2 different employers and a personal 401K & Roth on my own. Should I combine these to one account or leave them as they are? ThanksRead More...
Ask Penny. Something similar happened to me, @Derek Brammer . I combined them into one IRA.Read More...
I also have multiple accounts. I am no expert, but your required distributions in retirement would be based on the account value at the time of distribution so it might not make a difference whether or not they are combined; it might (depending on the investments in each account and the value at the time of distribution) be the same amount of income either way. Diversifying (keeping all of the individual accounts) has pros and cons in my opinion. Pros: As the years go by you will have a...Read More...
Last Reply By sthom · First Unread Post

Health Savings Account

Derek Brammer
Dear Penny Hoarder; I have a health savings account from a previus employer with UMB. I fully understand the importance of this financial tool, however I find it very dismaying that it does not earn any interest and I am being charged $4-5.00 a month for fees. I rarely use it because I try to stay healthy and cannot believe that I am losing $50.00 a year for UMB to hold my money. Any suggestions? ThanksRead More...
Wow, @Derek Brammer . I have an Optum HSA and it charges $1 monthly service fee and I was complaining about that amount.Read More...
Don't put anything more into it. Instead, open a savings account and put whatever you normally contribute into that account. Then if you need the money, it's there drawing interest or if you need it for something non-medical, it's there for that too.Read More...
Last Reply By sthom · First Unread Post

You should try this free survey app!$$

Forum: Make Money
Karen Boney
The app is called Surveys on the Go and you can download it from the Google Play store. This app really does pay you to take surveys!! In the last few months I've made about $200 and the surveys are fun and easy to do. Their customer service team is always available if you have any questions. You can cash out at just $10!! So give it a try and I promise you won't regret it. God bless you all and happy earnings!!Read More...

Community announcement 10.23.20

Maryann
Hi everyone! How has your week been? With only a week left in October, I’m curious to know how things are going for you. Please feel free to share an update in the comments below. Speaking of comments, there have been some great comments and questions this week. Here are a few threads I’d love to hear your thoughts on: @Derek Brammer shared how he is feeling dismayed because his health savings account does not earn interest, plus he’s charged monthly account fees. As a result, he’s losing...Read More...

Making extra money

Forum: Make Money
I know it has been asked alot. But I would like to see more ideas for someone on ssi to be able to make spare money to get by on or even have a life after paying for all the bills. I have kids at home and after everything hardly anything left but food and gas and it's not enough anymore. I have right under $60 left till the 3rd or when ever it comes in. I do surveys but they have gotten stupid. All or most are based on points or they want you to do one for less then $2 for almost an hour. I...Read More...

Life changing decisions

Hi, I have some life-changing decisions that I'm about to make from buying a house to buying a car dada dada dada. For about a month now, I have been weighing out the decision of using a financial firm to manage investments where I'm charged 1.25% per quarter or something like that also along with a life insurance plan where I have to make contributions towards it in addition to my initial premium of about $12,000 I think. I also had an art investment firm that I was curious about but when...Read More...
Do you know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Peddle and eBay?Read More...
Thank you so much for the response. I'm processing it all. Hate to still have to go back to the drawing board but I'm willing to take my time since my money is very serious to me.Read More...
Last Reply By mememe · First Unread Post
Hello there, I have a credit card and a line of credit with a credit union. Both have about $1700.00 balance yet to payoff. Line of credit is a 7.9% interest rate and the credit card has a 8% rate. I have the money too pay one off. Which one is better too pay off for my credit score going up?Read More...
Since they are both similar amounts and similar interest rates, I'd pay off the one with the highest monthly payment. If that, too, is similar then it doesn't really matter. Paying off either will lower your usage of available credit, which will raise your credit score in a month or so. I would use the monthly payment of the one that you paid off to make extra payments on the one that you didn't to get that paid off quicker.Read More...
No ma'am. All current and on time payments.Read More...
Last Reply By JeremyM · First Unread Post

Would You Buy a "Tiny Home"?

Kirsten Cherry
My husband and I have been obsessed with tiny home living since we heard of it years ago. We always wanted to try it out, but then we had a kid and the thought of living in 200sq feet with a toddler sounds horrendous! But there are still "tiny" homes out there that are just big tiny homes! I'm talking under 1000sq ft for a family. It's not something people in the home-buying process usually look for, but it definitely intrigues us! Would you move to a 960 sq foot house?Read More...

Community announcement 10.19.20

Maryann
Hi everyone! In case you missed it: last week, The Penny Hoarder’s money advice columnist Dear Penny, aka Robin Hartill, CFP, and Credit Sesame partnered up on a live Q&A to answer your questions around improving your credit score and overall financial health. While the Q&A has concluded, the thread is still available for viewing and learning. Head on over to the thread to get your questions answered . Since there were so many great questions asked in the Dear Penny live Q&A, I...Read More...
Hey everyone! We recently published this Dear Penny Q&A over on The Penny Hoarder, and I haven't been able to stop thinking about it! It's this one: " Dear Penny: My boyfriend won't tell me how much he owes. Can I pull his credit? " Interestingly, I was also reading Marie Claire's Couples + Money column this week. It's fascinating to me how different couples have different "rules" or guidelines to managing money within their relationship. It got me thinking — what are your guidelines and...Read More...
relationships and money, that takes communication, communication, communication. and an exit plan, particularly if you are not married. by Exit Plan, I mean, right now, while you are in love, what would you think is a fair split if you did have to break up? No one is in any shape to decide this when they are already in the breakup. In my own case, he owns and I am a renter in his house. If we do any large home improvements, we keep receipts in an envelope, with the plan that if we ever break...Read More...
We have had joint finances since 2008, except for retirement accounts. We are the beneficiaries on each others accounts. We decided joint accounts work for us. I am the nerd, he is the free spirit. I am the financial person who pays the bills, gets out taxes done, etc. We are debt free, except a tiny mortgage. We have a great emergency fund, and we pay cash for everything. It works for us. I did know his one debt before he moved in, and his credit score(2005). I feel people should ask to see...Read More...
Last Reply By Omi · First Unread Post

Large Sum or Monthly Pension

Forum: Retirement
Shirley
Hi, my husband's company is offering Early Retirement Offer. The offer is better then the one he would get if he retired normally in 2 years. We keep going back and forth on if he should take the large sum or the monthly pension the company is offering. The large sum the company is offering is 3x the amount. I want monthly to have peace of mind of getting money each month for sure. He wants the large sum to invest it to keep earning money. There is one thing I don't know if the monthly...Read More...

Types of FHA Refinance Loans

Forum: Save Money
edi mulyana
Are you currently considering refinancing your home? Maybe you have heard how interest rates are a 5 year lows or that FHA refinance loans and their updated programs have become wildly popular. Lucky for you, both of those things are true making for an excellent refinance opportunity. And it is no more difficult to apply for an FHA Loan than it is for a Conventional Mortgage. Before you decide to refinance, you should know the basic requirements for FHA Mortgages. To be eligible for FHA...Read More...
I have credit card debt and am working to pay it off. I have enough cash to make a settlement with one of the credit card companies. What are the pros and cons of a settlement?Read More...
We need more info about your situation to be able to offer any solutions. But pretty much CC debt in collections will result in NO benefit to pay it off. The damage of poor payment history, credit utilization rate and being in collections has already done its damage. Settling now will not raise your score. IMHO It is a waste of money. Take that money and open a secured credit card and restart new, responsibly paid CC debt.Read More...
Hi @Lendsey Kallaby ! I'd recommend taking a step back and looking at your finances overall. Your cash and your credit are both integral to your overall financial health. Instead of focusing on using the cash to settle your debt, I recommend thinking about how this cash can best help you reach your financial goals based on your current situation. Will this cash be better served to pay rent or other bills to help prevent accumulating additional credit card debt? Or will you be better served...Read More...
Last Reply By Leslie Kay · First Unread Post
Hi I'm currently in bankruptcy and it just started, How can I sharpen my credit/make better while in Bankruptcy?Read More...
You need to wait for your bankruptcy to discharge BEFORE obtaining any new debt or you may get yourself in legal trouble. Most creditors ask this question when you apply.Read More...
I'm encouraged and thanks for the reply. "I'm showing up and Not giving up.Read More...
Last Reply By Leslie Kay · First Unread Post

I am so done...

Maybe someone can help me understand how people think or just dont think at all?? Ive been going through some health isuues the past 8 months. We do have good medical insurance through my job, so thankfully not too many out-of-pocket expenses so far. I have been out of work for several months after two surgeries and ran out of sick pay about two weeks ago. We are okay with my husband's income but Im being super tight with funds in case I need more (hopefully, hopefully not) medical care. The...Read More...
People can be thoughtless and selfish so perhaps it was a case of just not realizing how much you are going thru. Just ignore them no need to feel any pressure to finance someone elses lifestyle.Read More...
Sorry to hear about your health conditions and surgeries. People do not think! Some days it seems as if they wake up and think 'if she can afford to not work then they must have extra money, let me see if I can get some'......... Hope your recovery goes smoothly.Read More...
Last Reply By Leslie Kay · First Unread Post
3 1/2 years ago I got sick and had to resign from a state job. I literally lost everything and became homeless for about 2 years. I've worked hard to get a stable home while fighting for my SSDI. My credit is in complete shambles all the while owing a lot of debt. Debt that I am watching being sold over and over that seems to reset the date and add to my already massive amount owed. I currently survive on $245 a month. How can I started rebuilding? I'm willing to take care of my debt even...Read More...
Perhaps you would consider filing for bankruptcy and getting a fresh start? If the debt is mainly 3-4 years old as I think that you are saying. There are ways to do this on your own if you study enough and there are some attorneys that allow you to do the tedious paperwork for a discounted fee to represent you in court. At $245 per month, you need to focus on your current needs and NOT old debt. That is not enough money to feed and house yourself without help. Once you get SSDI your debts...Read More...
Couldn't agree more with @Dear Penny here. You should prioritize your basic needs above anything else. And as a first step, contacting your lenders and banks to negotiate deferments can also help, even to just to alleviate some of the stress you're feeling about missing payments. There are some resources in this guide that you may find helpful, including contact information for lenders so you can negotiate a payment plan (you can also try reaching out to your utilities companies and landlord...Read More...
Last Reply By Leslie Kay · First Unread Post
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