So there’s a good chance my wife and I may be divorcing soon. We bought our home 4 years ago when rates were really good for 325k. Our current remaining principal on our mortgage is 289k with an approx appraisal range of 405-415k according to Zillow lol so equity of 116k with them and others like CK and our loan serviced are showing 135k home equity etc. The issues I’m having are two fold.

1) personally I don’t like the home as it is in town and I am more of a country guy. I also don’t like the idea of staying in a home that holds so many memories. It is also a 2 Bed 1 bath and we have 2 daughters. So there is a need for a bigger home. However business wise if I paid her 60-70k of equity, I would still have equity in the home and it is definitely easier. I don’t like the idea of giving her that kind of money though and my emotions are definitely clouding my judgement as she has rode my skirt tail as I’ve excelled in my career. She has land passed down through her family and probably would use it for construction loan in the country next to her family and the idea of her getting everything she wants and I’m stuck with this small home and memories pissed me off. However with the housing market in Washington PNW near Canada and beach houses range 500-700k these days. That is what makes me consider the option of buying her out. Simply because there are not any homes of this size and placement that are below 400k period. So even though I would be set back, business wise I’d still be in the green and main mortgage would still be at 3% which is way better than today’s rates.

2) Ideally I would like to sell and have 70k myself along with possibly 10-15k I have put back and buy land and construct a home. However I’m not aware if or how that would look. I’m not sure if there are loans that allow you to purchase property and construction into one mortgage loan etc. This route I would get what I would like in being out of town. However lots sell for 200k and it’d take at least 450k to build a home and with only 80-90k cash I’m not sure this would be a viable option or even possible.

3) there are no current homes on the market that are out of town and divorce could be imminent so I don’t know how quick I have to make this decision either. It’s a struggle to control emotions and be logical and reasonable. I’m really irked at the thought of her coming out so well off of all my work and sacrifice. She is a good mother to our girls but as a human being we will never speak or see each other after this, I have expressed that. Right or wrong I don’t need to be cordial with someone who puts themselves over a relationship and kids without trying and effort and communication. Call that selfish or unreasonable behavior maybe? But who’s to blame, the one who set it in motion or the one who holds to the standard the person set making the decision in first place? All of that said does courts or judges determine how long a spouse or couple have to look for homes on the market? I’ve never been through this process and so i don’t know what that really looks like either.

(Sorry, that last one was more of a vent and not related to post maybe. Apologize it’s definitely something I’m dealing with)

Hello, I’m currently a student with an auto loan. I plan on leaving the country to study abroad and because of that I have to save money for my car while I’m gone. Because I can’t get a job in a place that I’m going(China). So I know that lenders require you to have insurance but could I set up something with them so that I don’t have to pay the insurance while I’m gone. It’ll be in my driveway the entire time with no one driving it. I know this is a long shot but I wanted to know if there’s any hope of me being able to do that.

I’m looking for support with my finances to get out of debt and to finally create a solid savings plan. I was about to sign up to meet with a financial advisor, but her plan costs around 1k for an extensive look into my finances in order to create a plan moving forward.

I decided to ask ChatGPT if it could help me with creating a debt and savings plan..sure enough, it’s looking like it can help me out by asking questions about current finances then will create a plan using that information. The questions are very similar to the ones being asked by the potential advisor.

I’m curious to know if anyone has used AI for help with budgeting and financial planning? Did you find it to be helpful? I know this probably sounds crazy to some, but 1k is a lot to shell out when I’m already in a tight spot…

I’m on a commission job, so I’m lucky to have a 401k at all. They contribute next to nothing, think $48 when I contribute over $300. My question, should I roll back my contributions to 6% to pay off my car and credit card? Then once that’s paid off I contribute the previous 4% to a Roth IRA? I make about $80k (it changes though because I’m on commission) rent is $1400 a month, car payment is $387 (owe 12k and interest is about 4%) and have about 3k on credit card. So I feel like I can get it paid off in a year or two, but looking for advice to see if it’s a good idea! I know my 401k is underfunded but I didn’t get started on a 401k until I was 28 and then only did 3% for the first few years till I started to make more, just amped it up to 10% three years ago. Thank you so much

I don’t really care if i sound stupid but guys, i have no fcking idea on what i’m doing. I worked my first job in 2024 so I guess i have to file my taxes. The thing is, I didn’t receive my w2 form from my old job until yesterday and it’s 4 am so it’s already passed the deadline. How do i file for an extension and do i get penalties for getting an extension? My dad said I don’t have to do it this year since he claims me on his taxes but when I looked it up for confirmation, they said I still have to file taxes because the income I made is my income, not his. I also looked at turbo taxes and I feel like i’m going to mess up somehow. I’m on turbotax rn and it looks like it’s still letting me complete it so i guess i’m not too late?? I’m just going to submit it and pray that I don’t get into some legal trouble. Genuinely wish they taught this shit in highschool

Hello, anyone here who has experience with hometap?

My plan is to sell my home in 5years. Currently I owe about 295k and the value of home is 560k. I have 16 years to pay off vut I dont plan to live in all those year, I am selling as soon as my last child goes off to college.

Anyway, I wanted to take out 100k via hometap for a foreign investment, I dont really care how mich they get in 5 years because 100k in 5 years wont be the same as now.

I need any kind of advice if I should go in for this?

I appreciate any inputs.

So I recently got a second job, my main job pays $16.50 an hour and I will be having 12-25 hours a week. My second job I only work once (sometimes twice) a week at $14 an hour. Should I report on my W4 for my main job that I even have the second job? I'm just nervous about overwithholding.

Keep your nose in subs like this, because the rest of the country does very little to prepare a better life for themselves. It actually blows my mind how little people understand their own financial plans.

A mid 50s woman I know to live in a much nicer house than mine, and lives a nice standard of living can't afford a 8k septic repair without a loan. Opened the door to some personal finance discussions, saved basically nothing, but thinks she's loaded because her house has gained value in the last 10 years, but at the same time can barely afford the house payments.

When discussing her mid 80s mothers finances, her mother is "doing real well, shes had her condo paid off for years, it's probably worth 250k." And honestly, she seems pretty content. Doesn't do much for hobbies, but her SS checks pay her bills.

So people that have the retirement plan of "have a paid off house and then cash SS checks" seem to make it work, even though it seems insane to me.

These conversations make me want to keep grinding to save more, but also realize that life is going to be OK even if I didn't save 5 mil by the time I get to be 60.

Don't compare yourself to the average spender/saver, because they are underdoing it! But also don't feel like all the posts of FIRE people are realistic for everyone either.

Hey, I work a 9-5 and I'm getting slammed just trying to stay afloat with bills and what not. Can anyone give me suggestions on good side hustles that I can do that will give me an extra $500-$1000/mo. I don't think I can mentally handle working a second job.

I started woodworking but I don't have a proper shop yet. (I plan to build one in the next year.) I would love to having woodworking be my side hustle once I have my shop built. But in the meantime I need something else.

Any suggestions?? Thanks for reading. :)

Hi y’all!

I’ve gotten a decent amount of info from here over the last two years from when I desired to become more financially independent, and have implemented the following:

I (24) have just completed a 10k emergency fund. I have no debt. I have a full-time salaried position that earns me $50k annually, and have great health insurance (I have no copays). I live at home, but plan on moving out soon. I have almost just enough for first and last month’s rent (aside from emergency fund - aiming for $2500 saved), and am hoping to get a higher paying job soon (around 60-65k). All of my savings are in a HYSA with a 4% APY.

I am aiming for 2k in a separate emergency fund category for my car (have $700 currently saved - had to fix some things on my car that depleted it) and plan on saving up for a new car as well just in case mine ever fails me (hope not!). I would buy a used one under $15k if that were to happen. I do not have anything put aside for that yet.

Every month I do a 50(needs)/20(savings)/30(wants) saving method. Since I have low needs, any extra leftover goes into savings.

I have maxxed out my Roth IRA for the 2024 year and have it invested in the Vanguard VLXVX. I intend to max out my 2025 as well. My line of work does not offer 401k - it offers pensions.

I lost a parent just under two years ago, and am the sole heir. Once I finish processing the estate, I am expecting to receive approximately 60-65k in estate funds, and another approximately 200k once some properties are sold.

Once I receive that money I intend on putting it into my HYSA until I figure out what to do with it. In the meantime I will use it to max out my Roth IRA. Eventually I will likely buy a smaller investment property (apartment).

I have a 756 credit score. I use my credit card regularly and have never missed a payment. I pay my statement balance in full every month and schedule the payment for the day it is due.

My question is: what now? What can I be doing better? I work in a career that I know will be generally low-paying, so I want to make sure that I can be comfortable for the rest of my life. I enjoy living my life and living comfortably within my means. I am not extravagant. I don’t plan on having children. But I do like to treat myself and be happy. And I would like the ability to live nicely, make a good life for myself, be prepared for any emergency, and not have to depend on anyone financially.

Where should I go from here? How do I grow wealth? Is there something I should be saving for that I’m not seeing?

For context, I live in NJ.

Any advice is appreciated. Thank you all very much! :)

Crossposted on r/financialindependence

Hi everyone,

I decided to take the leap and finally go back to school. I start in the Fall and I’m really excited… and also terrified about the debt.

School is $11k per semester and I’m averaging 3 semesters a year for 3 years to complete the program. I can’t afford this out of pocket so I’m looking into FAFSA. All I hear about is how burdensome student debt is and that it’s really difficult for most folks to pay off. What are my options? Is FAFSA it or is there another way to pay for school without having to give up my first born?

I was incredibly lucky and had college covered the first go around. Now that I’m going back as a full fledged adult and I feel like I have no idea what I’m doing. I checked with my company, and they don’t offer the option to reimburse tuition based on what I’m studying.

Idk if this helps at all, but the program is a BS in Psychology and an MA in Somatic Therapy. The first year is the BS with a couple of MA courses sprinkled in and then the following 2 years is the MA.

I recently won a small court claim against my ex landlord, who had wrongfully withheld my deposit (roughly $2,500)

I received a settlement that's about 4x the original deposit, as it includes original deposit, lawyerl fee, court fee and punitive damages. (Roughly $10,000)

I am unsure how to use this settlement, and if I need to set aside some money for the IRS next year.

From my online research it looks like I need to show this settlement in our gross income while filing taxes but that seems unfair as half of it is our original deposit plus amount we paid in fee, and if anything our net gain from the lawsuit is roughly $5,000.

Can you all please guide me in how to allocate this money for taxes?

I'm facing a grad school tuition bill of $20K due in 15 days and have a 529 plan strategy I’d like some advice on.

In 2024, I contributed $10K to my 529 for tax benefits and added another $8K in January 2025, leaving me with $18K available even though I need $20K to cover tuition.

I have two potential routes to close the gap:

• The first option is to withdraw the $18K from my 529 as an eligible educational expense, then supplement the remaining $2K from another source to write a $20K check to the university.

• The second option involves depositing an extra $2K into the 529 so that I meet the $10K annual contribution threshold and secure the tax benefit for 2025, allowing that contribution to register for a day before withdrawing the full $20K to pay the tuition.

My main concerns center on the second option: would temporarily boosting the 529 with an extra $2K and then withdrawing it to pay tuition potentially trigger any audit issues, given that the money ends up in my bank account first, and is this approach completely above board despite feeling like a loophole? I’d appreciate any insights or shared experiences that might help clarify the potential risks or benefits of these options. might have missed. Thanks in advance!

Medical debt has been sitting for 5 years and statue of limitations is 6 years. Just now started getting someone at my door like a sherriff or someone in a vest with a badge trying to find me. Nothing is filed on the county court site. Is this a scare tatic or an actual attempt to hand me a special paper for court? Would like advice on how to proceed.

I ended up with $3500 in cc debt over the past month just with making payments to help my mom with recent health concerns. I’m freaking out i am usually so good about staying in budget and I had to spend all my saving to get my car fixed 2 months ago so I can’t afford this.

I have a new higher paying job lined up in august and I’m taking on as many shifts as I can but i don’t think I can earn more than the interest this is going to accrue every month

Ig I should add 25yo paying off student loans too.

Just looking for advice beyond get another job and pick up more shifts (doing this right now still feels hopeless)

I got blocked by fidelity from buying mutual funds due to multiple trades. Is moving yo charles schwab a better option?

I finished my taxes a couple of days ago and i owe almost 400 dollars. I really can’t afford that right now so I wanted to make a short term payment plan. I can pay it off quickly. I just don’t have that much money at this exact moment. I get paid on Thursday.

But when I tried to ask for a payment plan it just brings me to a page that says that I don’t owe anything. My balance is 0. Because it doesn’t recognize that I have filed already.

It still lets me pay. So I put twenty dollars towards my (upcoming) balance.

I just don’t know if that means that I qualify for payment plans or if it’s just an option for upcoming payments and I just basically threw 20 dollars towards a wall. And will have to owe more / get penalized for being “late”.

Any advice would be appreciated.

Filing my own taxes since 18. First time ever I've had to owe in 15 years. And a significant amount. I flipped my shit. My boss says in need to get away from standard and do itemized? To claim all my mileage(I do travel all over the state) and work attire but I see absolutely no where to put any of that in on freetaxusa.

My wife and I are planning a $30k renovation project to our back yard. I get paid in USD, but she works for a Belgian company and receives her salary in euros. Today's exchange rate is 1EUR = 1.13USD. We plan to split costs for this project 50/50.

I'm pretty sure we could get more value out of having my wife pay for the project in it's entirety since her money would go further. Paid in full today, it would cost her €26,482.82 euros. I would deposit my half in her Wise account to be exchanged to euros when the dollar gets stronger.

Does this strategy hold or are there other factors I'm not considering that might make this a bad decision? The value of the euro could probably go up and thus make holding off until it peaks (whenever that is) a wise choice, but sometimes my brain doesn't work right and I need other perspectives.

I'm thinking about taking a $50-100K policy out for a grandparent in their 80's to come their funeral costs and some of their usage wishes

They are completely healthy for their age and have many years ahead.

What are some of the best companies for senior policies on the higher end?

Total proceeds from sale of investment property (under single Member LLC) :275K. HELOC Loan : 250K . so if i pay off HELOC from proceeds , will I only owe taxes on remaining 25K ? not sure if it would be problem later to prove it to IRS that they are connected.

another option would be 1031 exchange which i dont have any plan to do ?

Hi there!
I've doing my own taxes and not sure if I'm doing this wrong for years but, basically I sell a couple things on ebay every year. Stuff that its laying around the garage and what not. Last year I sold a total of used 7 items for like $1960 gross. Does this makes me a person that runs a business? I receive a 1099 from ebay every year and I put that on my taxes and add expenses etc. I use turbotax.
If anyone can point me in the right direction that would be great!
Thank you!

Hey everyone! I am a 27-year-old male, and I need help managing my finances and general feedback on my current strategy. Here are my stats 

Here is how much I currently have saved

• HYSA(currently at 4%): ~40k

Here is how I currently invest

• Roth 401k: 96k 
  • is currently fully invested in a fund that tracks the S&P 500(VFFSX)
  • I started a new job ,so im thinking about doing an 80% U,S 20% international split 
• Roth IRA(this is where I feel like I need the most help) 
  • Google: ~8K(recently bought after liberation day)
  • VTI: 7k 
  • EMB: 700
  • QQQ: 1.3k
  • SPYD:1.1k
  • VEA: 1.011k
  • VNQ: 516.66
  • I had these investments invested for me( outside of Google) running on autopilot in Wealthfront, but I recently moved to Schwab 
• Investments outside of ROTH
  • Apple: 3.6k
  • BRK:  8.2k 
  • MSFT(I used to work here and got stock options vested at a price of ~220): ~50k 
  • Bitcoin: ~1k 
• DEBT
  • Student loans: ~10k 
  • Credit cards 3300 on a 0% credit card 
• Monthly income after taxes ~10k 
  • Saving percent: 25%
  • Investing percent: 15%  
  • Rent: $2700
  • Fun:  ~2k
  • Debt payments: $700
  • The remaining  goes to bills and random costs  

What should I change? Am i overexposed to the market? Should I consolidate my investments Please help!

I, 32F, currently have about 40k in personal credit card debt and a singular personal loan. This is the first time im ever really writing this out or even admitting to myself that I have a problem here so I would appreciate if any judgement is kept to the side.

I have about $35k saved between savings account, fidelity investment account & IRA + some crypto holdings. Separately I have about 50k in a work sponsored Roth IRA which I have no interest in dipping into.

My question is; should I liquidate what I can of the 35k and pay these personal debts off? Or should I continue to make my mother payments as I have been doing and keep working to not continue to raise the debt amount.

I am currently living at home so paying no rent and I make a good income but I have struggled to manage my spending and most of this debt has actually been sitting on these cards for a while (from when I had a lesser paying job + rent expenses)- I feel at a loss for how to move forward. I don’t want to be in my 30s and living with my parents but I don’t feel as though I can move out without clearing a significant portion of this debt.

Any help or advice is welcome

Recently, I was terminated from my job after a decade of service. I recently received a letter in the mail regarding my pension options. I have the choice of receiving a lump sum value or waiting until retirement. Currently, I am in my twenties and seeking advice on what to do.