NT: Official Personal Finances Thread

[zmdawg]

I got a mail solicitation for a new checking acct bonus from Wells Fargo. Pretty straight forward one, $325 bonus, just need 1K direct deposit to hit.

I used to do these all the time. Like 3-4 a year lol. I haven’t done it in probably over a year and figured it had to do with the recession/feds hiking rates… thought it was interesting I got this offer now. Wonder what that means from a macro perspective- anyone have insight?

This one is worth far more if you are thinking of doing another one: https://www.doctorofcredit.com/targeted-chase-900-checking-savings-bonus/

My wife and I have been doing handfuls of them and credit card bonuses the last few years. Always try and something going.

 

[tay1]

Quick question for yall. When paying off debts, do you prefer the avalanche or snowball method?

 

[Mark Antony]

I like the snowball method for the mental aspect of seeing one down.

 

[tay1]

I like the snowball method for the mental aspect of seeing one down.

Yeah that and having the ability to save a little while paying things off is what’s pushing me towards the snowball method

 

[6 Rings G.O.A.T.]

Quick question for yall. When paying off debts, do you prefer the avalanche or snowball method?

 

[mplsdunk]

Avalanche so that means student loans are up next I guess…

 

[tay1]

I asked coworkers and one of them told me that they used the snowball effect and used the monthly amount of the paid of the previously paid off debt and use that towards your highest piece of debt. I think I’m going to try that method.

 

[us3less]

I asked coworkers and one of them told me that they used the snowball effect and used the monthly amount of the paid of the previously paid off debt and use that towards your highest piece of debt. I think I’m going to try that method.

Would that mean continuing minimum monthly on everything except the highest debt? Kinda sounds like a reverse snowball method. I feel like that's more challenging than the regular snowball method since the snowball method helps build momentum.

 

[pdino]

Found this promo if you got $ just sitting around in a checking account. 4.35% high yield savings account w/ cash bonus:

Full details- https://www.capitalone.com/bank/bonus1500/

1. Open
Open a new 360 Performance Savings account with promo code BONUS1500.
2. Deposit
Deposit $20,000 of external funds during the 15-day Initial Funding Period after opening your account.
3. Hold
Hold the deposit(s) in your account for 90 days after the 15-day Initial Funding Period ends.
4. Earn
See the bonus in your new account within 60 days after holding. See chart for bonus amounts.

20k-->300$ bonus
50k-->750$ bonus
100k-->1.5k bonus

 

[tay1]

Depositing 20K only to get $300 is insane lol

 

[Mark Antony]

I was looking at it like is it worth the effort to move 20k around for that. Terrible incentive.

Think I got 400 for just opening the checking and using direct deposit.

 

[pdino]

Depositing 20K only to get $300 is insane lol

I was looking at it like is it worth the effort to move 20k around for that. Terrible incentive.

Think I got 400 for just opening the checking and using direct deposit.

4.35% APY + 300$ for keeping it in there a few months. Most checking accounts yield 0, savings accounts 0.05%.

If you leave that 20k for 1 year, you'll get 20,000$ x 4.35% = 870$ + 300$ (incentive) = 1170$

made 1k+ for money sitting there.

 

[Mark Antony]

Guess it's not that bad if you have that bread to move.

 

[htg designs]

Not bad but got $325 for $500 deposit at a regional bank and another $300 for $1500 deposit with Citibank

 

[moderndarwin]

snowball

 

[moderndarwin]

If something is free you’re the product

 

[pdino]

Not bad but got $325 for $500 deposit at a regional bank and another $300 for $1500 deposit with Citibank

There are people who just bounce around and do all the promos, can do same with credit cards. Those are almost always available to pursue.

High yield savings accounts are at like a 30 year high for rates, which makes this a great time to do this one

 

[oh you mad]

I have a UFB Direct high yield savings at 5.25%

 

[3900stabler]

Can someone put me on the game when it comes to negotiating sales price for a car? I haven't bought a car since 2007. I know the required fees are tax, title and doc fee. I did some research and found the average doc fee in my area. The sales tax is pretty straight forward. Is the title fee up for negotiation?

Only looking to pay $8k for a car.

Thanks.

 

[mplsdunk]

I never have good luck on them taking down the price anymore.

that said I turn it right back in their face, you're paying blue book for my trade in now. I don't lower my price either.

 

[Zainjal26]

Delete

 

[steebie j]

I’m seriously considering paying off my car loan quickly. I have about 65% of the total cost of loan payoff in my high yield savings.

Should I pause my savings (I dump about $350-$400 weekly into savings) and attack the car loan or should I save enough to where my savings can pay off the car loan then start over saving?

Or maybe even do both? Still save little maybe like $200 weekly and use the difference to add to car note.

This is my only debt btw. No CC, student loans, etc.

 

[tay1]

Getting your finances in order and budgeting can really be an eye opening thing and can just flat out suck at times. I'm so close to being done but its tough. Every dollar matters right now

 

[rbk93]

I feel like earning more would help in my situation. At the same time, it would probably increase my wants as well.

 

[domogotsole]

I think if you can set up a direct deposit from your paycheck to an investment account or separate bank account you can get a good start. Even if it’s ten or twenty bucks a check. You will inevitably learn to survive without that money after a few weeks to the point where you may forget about it.
Then focus on increasing your income. Obviously this is easier with less responsibilities like children or student loans etc.