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They took back our credit limit

Forum: Credit
Jamie Vaccaro
My husband and I have worked hard to have great credit. We pay on time, pay more than the minimum and sometimes just pay off the card at once. As a benefit, all of our credit card companies have given us generous credit limits. In December of 2020, the credit union that we have one of our cars with messed up our payment and reported it being late to the Big Three (Transition, Equifax and Experian). Discover card somehow found out and immediately lowered our credit limit. I only found this...Read More...

Paid off my credit card debit

Leta Muncie
Yippie Skippie! I paid off my credit card debt. I got hyper focused and haven't spent any extra money; putting it all toward my debt. It helped that I have another side gig that gives me residual income as well besides my regular job. I'm looking to build my "side gig." I love residual income, it is one of the best ways to build on wealth. I help others to do the same thing. Paying off credit cards takes hyper focus. Its not really "rocket science" its more discipline than anything. I'd love...Read More...
You might check with your bank or credit union to see if you could borrow the $1400 at a much lower interest rate than the 20 percent (more or less) that you're paying now. (Tip: apply for a loan, not a line of credit). Then pay off the loan, cut up your credit cards and be done with it!Read More...
I'm working on paying off 2 credit cards right now - the one is around $400 for a Dell computer I bought. That one should be paid off by the end of the year (I pay $47 per month). My main credit card is a Mastercard, and I am working diligently on that, throwing every spare penny that I can in that direction. It's working, but I still have a little ways to go. I'll be so happy when it's under $1,000 - I'm almost there!Read More...
Congratulations! I wish I could say that I have no credit card debt and be telling the truth! 🙂 Anyhow, as financial experts advise, get rid of your credit card debt before you retire if at all possible. On the bright side though, I'm slowly paying it down.Read More...
Congratulations! NO CC debt for me but I am looking at increasing my savings. Occasionally I will take a pay period or a month and do 'no spend'. Now I am a decent budgeter, but there is always somewhere that can be cut back for a time. I eat from my cupboards and clean out the fridge, no personal spending, etc. And that money goes to savings.Read More...
Last Reply By Donald Winn Snedecor · First Unread Post
Hi, I'm elderly -- have only disability income and a 3 month emergency cushion. CC debt is manageable IF I pay minimum, but I could start to pay it down and save even less or nothing. Should I pay down CCs or save some? Would appreciate links or suggestions for sources to learn more. Thanks!Read More...
Here is some simple math. I just googled it and found a source saying the average annual credit card interest charge is 17.8%. Interest on a bank account pays less than 1% interest. Investing in bonds may give a couple of percentage points and lets say investing in a broad based index fund of stocks may bring 9% on the aggressive side. With inflation running lets say 2.5%, having money saved in a bank account is not keeping up with inflation. But not paying off your credit card is likely...Read More...
Even a little extra amount to credit cards, will eventually make a dent. A half and half approach, half to credit card and half to savings will work. The bare minimum savings per The Total Money Makeover is $1000 (Baby Step 1) and follow the steps to get out of debt.Read More...
i enjoy learning from this community thank you all for sharing,Read More...
Dave Ramsey: Total Money Makeover is really helpful to look at debt and how to manage it. They have great resources. Google: daveramsey.com Let me know if you need help navigating the site.Read More...
Last Reply By Phil H. · First Unread Post

How do you choose what to invest in?

There are lots of options out there, what do you find the most secure to invest your hard earned money in?Read More...
I’d like to join in here and say this - never rely on random people to make money. Yes, there are success stories. Does that mean it’s a guarantee? Absolutely not. There is no gimmick to guarantee an 8% APY investment. If you want to invest and you don’t want to keep an eye on it, I suggest CocaCola ($KO). Why do I suggest CocaCola? Well, they offer a really nice dividend with a yield of 3.15% at the moment. However, please understand this is dependent on the current price of the stock...Read More...
The s&p isnt making any moneyRead More...
To start investing , it’s always best to start dollar-cost averaging into a S& P Total Market Index, or S&P 500 index🤗Read More...
Last Reply By GraysonY · First Unread Post

This week’s Community Announcements 3.26.21

Maryann
Is it just me, or is anyone else wondering how we’re already at the end of March? It feels like we were just kicking off the new year, and here we are rounding out Q1. What’s this year been like for you so far? What are you most looking forward to in these Spring months? Comment in the thread and let us know! After a couple of conversations with friends who were dealing with their own financial dilemmas, I started a thread asking “ How do you talk to your friends about money ?” If you speak...Read More...
Yes! https://community.thepennyhoar...5#542884453979116545Read More...
I'm really looking forward to getting out more once the weather warms up. Spring is my favorite season. Financially, my year looks great so far. My first quarter earnings from taking surveys and participating in focus groups are good, I've received unexpected refunds from my mortgage company, health insurance company, etc. The stimulus checks have arrived in a timely fashion, and most of all I've accomplished one of my financial goals for the year which is to start investing again.Read More...
I still have a hard time believing that I will receive monthly installments of the expanded child tax credit! I am considering my plans for it so I will already have it written into my budget and not just blow it. I would like to do more than just save it... And this year has been good so far! Starting to spend more time at the actual office but also currently have some flexibility to be home with my teenagers, and I want to keep that for as long as I possibly can. But I am SO looking...Read More...
thanks for the post, i know i am saving my money don't know what tomorrow will bring, i live on a single income and work part time,Read More...
Last Reply By Jacob Meyerson · First Unread Post
When will social security get their stimulus checksRead More...
It is April 1st and I have not seen or heard anything about SS deposits. Any updates?Read More...
Thank you all for your input. We had heard (in Washington) that checks would be depositing starting March 24. So we are eagerly waiting too! 😉Read More...
SSI and Social Security should receive their check by the end of May . This is what others been telling me .Read More...
And, I checked early this morning (2:00 a.m. CST) and the IRS site says to expect my Stimulus check on April 29th.Read More...
Last Reply By Leslie Kay · First Unread Post

I am so done...

Arica
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...
That is rough. If their situation is tight, I'd be tempted to suggest they try Freecycle or the free section of Craigslist. If they just expect folks to give them cash because they're entitled, "No" is a complete sentence.Read More...
My mother, who lives with me and pitches in a very small amount toward the rent (I cover all other expenses including her cell phone on my plan), recently asked me if I should get a raise at work, would I “lower” her rent? 🙄 People can feel entitled, but we don’t need to indulge.Read More...
I am sorry that you are dealing with someone so selfish or clueless right now. I'm sure it is hard! Keep strong and take care of yourself. New furniture is not an urgent need.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...
Last Reply By Olivia · First Unread Post

Upcoming Virtual Event With “Napkin Finance” Author Tina Hay

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 everyone, If you have concerns over your partner’s fidelity, improving your credit score, grade change or doubt your employee’s sincerity I am certain morrisgray can help you get direct access into their phones and computers easily without their knowledge and within a specified time frame. This team of certified morrisgray hackers helped me when I desperately needed to get evidence of my cheating husband’s extra-marital affairs. I was tired of being lied to and wanted a divorce, all...Read More...
Hi everyone, If you have concerns over your partner’s fidelity, improving your credit score, grade change or doubt your employee’s sincerity I am certain morrisgray can help you get direct access into their phones and computers easily without their knowledge and within a specified time frame. This team of certified morrisgray hackers helped me when I desperately needed to get evidence of my cheating husband’s extra-marital affairs. I was tired of being lied to and wanted a divorce, all...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...
Last Reply By Nancy Rosas Fonseca · First Unread Post

How Much Does a Hard Credit Check Ding Your FICO Score?

AnneFromBoston
I am getting closer to buying a condo, and I want to keep my FICO as high as I can so I can get the best mortgage deal for my situation. I want to apply to Care Credit to have some dental work done, and I am sure they will do a hard credit check. How much will that one hard credit check reduce my FICO score? Will that amount significantly affect my FICO score and my mortgage deal? (FYI, I pay all my bills on time and carry no debt of any kind.) Can anyone advise me?Read More...

How do you talk to your friends about money?

Maryann
We've all had it happen — a dear friend shares their money woes. Whether it's struggling to keep a budget, spending too much or never having enough, it hurts to hear that a friend is struggling. How do you respond when a friend approaches you with money problems? Do you listen and empathize? Offer solutions? Share what's working for you? If you're someone who offers solutions, how do you do this without offending or hurting your friend? And, honestly, why does it feel so awkward to broach...Read More...
I have one friend who is as open as me about money and finances, so we are always discussing and giving each other tips and advice. Nothing is off limits because we both know what we discuss stays between us, no judgement.Read More...
Your friend is reaching out to you to share, so I would listen empathetically, and then ask, 'Can I share an idea that I have' or 'what worked for me?', especially if circumstances are similar. Then you know if they are just venting, or actually seeking solutions. If they are just venting, at a time when neither one of you are talking about money, you could bring up a situation from your life and how you are dealing with it, and ask them what they think. As we know, when we are dealing with...Read More...
A friend is someone who I'd like to keep, so we don't discuss money handling at all, along with politics and religion. It is just not worth it to reveal things that would hurt or create a sticky situation that could lead to a distancing. We might say things like did you get your stimulus check, did you file your taxes yet, what is your car insurance costing you...things like that. If the situation is similar I would share what I have done and leave it at that.Read More...
I have one friend whom I share pretty intimate details about money. We're both in somewhat similar financial situations. Other friends I don't go into it too much.Read More...
Last Reply By Arica · First Unread Post

Perfume

It is discouraging to get to the point where no matter how long and hard you pump, your bottle of perfume is not surrendering that last bit of scent. How do you get the last half teaspoon out of there?Read More...
wow interesting thanks for sharingRead More...
👏👏👏🤗Read More...
I want to thank all for these suggestions. I tried them all and felt puffs of air when I compressed the sprayer top. Next thing I did was pump the dickens out of the sprayer, and after a couple hundred pumps I got liquid!Read More...
You could do the needle in the hole trick, an alternative is to try a new sprayer from a different bottle. Just pull up the 1 on top of the bottle and put a new one on. More than likely it is just drawing up air slugs from the bottle and will not allow a steady stream of liquid to come out. Best to you.Read More...
Last Reply By irishnanny · First Unread Post

$1,400 stimulus checks, unemployment extension and more!

Dear Penny
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...
hell everyone i hope all is well i feel very bad for all of the people with out jobs and yes they collect unemployment but its not always what you make in a regular pay, i do hope that the extra money in the stimulus checks helps, prays to all and i am so great full to learn everything i do from you allRead More...
My husband and I are still waiting for our stimulus check. There's not even a date out there which really makes me think there's a problem. We got federal and both state tax refunds in a timely manner. Is anyone still waiting for their stimulus check?Read More...
Hello Everyone! @Dear Penny , I'm interested in learning more about the unemployment extension and how to file if your UI benefits ran out 4 months ago. Any resources on that topic? Please connect me! I'd love to see a decision tree chart! On a lighter note...I appreciate all the positive and supportive people in the Penny Hoarder community that have shared advice and support. My heart goes out to everyone in situations that are beyond their control. Its scary.Read More...
my son and sister have theirs in the bank, but can't take the money until March 17th my bank said it will be there on March 17th, my son and sister belong to a credit union i belong to a bankRead More...
Last Reply By irishnanny · First Unread Post

Personal Loan vs. Credit Card Debt

Forum: Debt
MountainFan
I was reading an article where a personal finance consultant used a personal loan from Upstart to pay off some credit card debt. I was curious what everyone thought of that idea. For my particular case, I'm torn 50/50. (First I had to admit my mistake & big 'oops' moment realizing I have about 10k in credit card debt now... yikes.) I know the absolute #1 way to fix this is to budget and change spending patterns , which I'm already doing. The concept of a personal loan intrigues me though...Read More...

Mobile Home purchase

Linda Rae Kimsel
Hello, I would like to know the most affordable way to buy a new Mobile Home. I don't make much money but am almost 51 and am finding it hard to keep up with expensive, monthly rent payments. I don't know what my credit score is. I tried equifax as advised by Penney hoarder but all I received were tons of marking calls and emails! NOT a credit score! I appreciate any and all helpful input. Thank youRead More...

This week’s Community Announcements 3.19.21

Maryann
Hi everyone, Hope you’ve had a great week! So many things happened this week — we sprang forward and “lost” an hour with daylight savings. St. Patrick’s Day was on Wednesday. Lastly — and perhaps most relevant to many here in the community — was the distribution of stimulus checks! Since we’re a financially-minded crew, what advice would you give to anyone looking for the best way to spend their stimulus money? Let’s help each other out by commenting in the thread. @sthom shared this week...Read More...
Thanks for the recap! I just found the resources page and its great. And I was psyched to receive a decent tax return AND stimulus check! All of it to savings for me. This year has taught me to have a good emergency fund.Read More...
Last Reply By KellyFromKeene · First Unread Post
The program is a partnership between the IRS and popular tax filing software's like TurboTax, TaxSlayer, TaxAct, etc... that allows you to file your entire return for free if you make less than the $72,000 AGI cutoff. Here's the link to IRS Free File Even if you do make more than $72,000/year the electronic forms to file are free to use and file online. Granted I would only do that if you have a pretty straightforward tax return or you really know what you're doing when it comes to taxes. If...Read More...

Need info on getting my tax refund + stimulus

Forum: Taxes
awinquis
I didn't have a problem until I filed last time with paper forgot the signature so they sent it back I signed sent it back since than everything got screwed up bc my bank account on my refund is closed down. How do I change my bank account information who do I call bc I didn't get my $600 stimulus or the one coming I'm not gonna get bc bank account is closed. Please help!Read More...

Fun time killer

BeckAtsila
Hi all, Sorry I've fallen off the face of the 'Net; all hell broke loose. But I'm finally financially in a good place for now and discovered a fun little video game on sale, at least on Switch. It's called 911 Operator, and takes place in several cities. I downloaded it because you can play in Indianapolis and go to real addresses (although they make some mistakes, such as having a heavy industrial machinery accident in a commercial zone). Fun Indiana side note, you can also play in Ft.Read More...

Check your BOA CC statement

Arica
Bank of America had a $30.xx on my account as an intesrest charge although I paid the balance in full and before the due date / closing period. The second service rep I spoke with removed the charge and apologized after the first one had no idea why it was there and had to transfer me. No one could explain the charge. Make sure to check your accounts regularly. I dont care for BOA in general but they currently have the best cash back CC, but if it happens again I wont hesitate to ditch them.Read More...
This happened to me with Chase Bank. I average an incident every six months with them. Only reason I keep them is because they guarantee my disability check.Read More...
If it happens again, I wont be using my card anymore...Read More...
Hi! This is one reason I closed my BOA credit cards. I’d pay my balance in full, and the interest would still show on the statement. Then I’d have to call BOA to have it removed.Read More...
Last Reply By BeckAtsila · First Unread Post

Resources page

I've been on this forum since summer 2019 and I'm just now discovering the Resources page. I've no idea how I missed it. I just went through the Grocery shopping section, but there are all sorts of guidelines for budgeting, credit, etc. I accessed it from my Profile page.Read More...
@Maryann THANK YOU! Found it. 🙂Read More...
@sthom I'm so glad it's been beneficial for you! Thanks for bringing this up as a viable place for tips. @KellyFromKeene It's on the top menu. Click Get Started > Resources. Attaching a screenshot too. =)Read More...
I don't see it on my profile page... Would you be more specific on how to access it? It sounds great!Read More...
Last Reply By KellyFromKeene · First Unread Post

UNEMPLOYMENT

lori wulff
hi everyone ☺ I'm a bit curious how other people think anybody the unemployment benefits. I feel that the amount of money given is more than what people were earning working . What do you think?Read More...
@lori wulff , I hear you. The news definitely tends to focus on the negative/fraud/mismanagement. And there is some, for sure! But in my experience, it is far outweighed by the people who use it correctly. Money is an emotional subject, and in today's environment, one can hardly have an opinion without being criticized for it. I'm happy to have a discussion about what I see firsthand, and what I experience.Read More...
Just to clarify , I was asking opinions. I am not saying I am not I'm not favor of unemployment, just concerned. Of coarse I want families and others to ube safe financially. I saw on news about thousands of fraudulent w so that is where my question stemmed from. Have a great safe day all.Read More...
Just to clarify , I was asking opinions. I am not saying I am not I'm not favor of unemployment, just concerned. Of coarse I want families and others to be safe financially. I saw on news about thousands of fraudulent cases so that is where my question stemmed from. Have a great safe day all.Read More...
Please provide evidence from balanced resources which support the assertion of benefit recipients earning less than the amount of the benefits received. It's challenging to speak to issue without more information from useful resources. Thank you.Read More...
Last Reply By KellyFromKeene · First Unread Post

This week’s Community Announcements 3.12.21

Maryann
Happy March everyone! How is everyone doing? Comment down below -- I’d love to know what’s been top of mind for you! Robin Hartill aka Dear Penny stopped by the community this week to share she’s working on FAQ about the newest relief bill, which includes $1,400 stimulus checks, an expansion of unemployment benefits until early September and a bigger child tax credit. If you have questions about these topics, please drop a comment in her thread and Robin will do her best to answer. Here are...Read More...
That Suze Orman article was great! I'll be passing that along to my friends and clients. I know that I have been one of the fortunate ones- kept my job the whole time. I was pretty proud of my 3 month emergency fund, however, I am working on building it up as this year has shown me that I need to be even more prepared for the unexpected, if possible. So all stimulus and tax returns are building that up. (12 months seems so out of reach!)Read More...
Last Reply By KellyFromKeene · First Unread Post
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