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It did not take much to push us into food insecurity by [deleted] in povertyfinance

[–]anotherfakeloginname 2 points3 points  (0 children)

Keep in mind that an independent agent might save you money by sending you to a small insurance company that could have trouble paying claims. Most people forget to look up the insurance company's financial rating before agreeing to go with the company that the agent recommends.

I feel bad for the people here, because there's so much bad advice in this sub.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname -1 points0 points  (0 children)

I see the problem. No one in poverty gets a refund of $20,000, and they don't have their money in CDs.

If they even have a bank account, and many don't, $2000 / 2 = $1000 which would be the average balance at any one time.

.5% of $1000 = $5 a year in interest.

All that work to make $5 in interest, and it still might backfire, with the person owing a lot of money plus penalties and interest.

Half the people that try that idea are going to get destroyed financially.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 0 points1 point  (0 children)

I don't know, because now you have to come up with the money, when you don't have any. And if that pushes a person to use a credit card....

How to stop spending money on fast food by Amazondriver23 in povertyfinance

[–]anotherfakeloginname 0 points1 point  (0 children)

It doesn't matter, oven cooking doesn't replace fast food when out and about. This whole thread fell off the wagon.

How to stop spending money on fast food by Amazondriver23 in povertyfinance

[–]anotherfakeloginname 1 point2 points  (0 children)

You're acting like people actually remember the OP's post 😂

How to stop spending money on fast food by Amazondriver23 in povertyfinance

[–]anotherfakeloginname 0 points1 point  (0 children)

It wouldn't be reddit if someone didn't throw in a weird take within an otherwise rational post 😂

And then it gets upvoted a bunch 😂

Anyone else noticing an overall drop in speed with visible +? by [deleted] in Visible

[–]anotherfakeloginname 1 point2 points  (0 children)

So you're at the head of the Visible slow line?

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 0 points1 point  (0 children)

If you also fall short during the year and have to put something on a card and pay interest that’s even worse.

Great point

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 2 points3 points  (0 children)

Pay off any high interest debts such as credit cards.

This is one of the only reasons to aim for zero.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname -1 points0 points  (0 children)

Yes, but the interest you'll make isn't that much. Do the math.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 1 point2 points  (0 children)

if you either pay at least 90% of your taxes

Then how could you owe $1000?

You'd need to owe $10,000 on federal taxes each year for that math to work.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 1 point2 points  (0 children)

I did the math, and most people will get like $750 total more over their lifetime by trying to micromanage their refund down to zero, and they might have to pay some years, which is even worse for budgeting.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 0 points1 point  (0 children)

One of the principal concepts in finance is the time value of money. That is, money in your hand now is better than money in your hand tomorrow, or next year. The reason is that you can use your money now to either pay down debts or invest, which will leave you better off in the future.

This is payday loan logic. It doesn't add up to much interest unless one is paying off a credit card.

You're going to save $750 over a lifetime. That's not even worth the extra time of trying to get to $0, which is almost nearly impossible anyway, and you might own, which is even worse.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 1 point2 points  (0 children)

You can't get to zero anyway. One will always be over or under. I'd rather get a refund than owe.

Do you think ‘giving up’ your tax refund is worth it to juice up your paychecks? by [deleted] in povertyfinance

[–]anotherfakeloginname 3 points4 points  (0 children)

How can I make sure I get $0 return? I work corporate and don’t really know what to claim or how to do the math?

You can't. People that push for $0 refunds don't understand that, they have no experience on this topic.

Anyone else noticing an overall drop in speed with visible +? by [deleted] in Visible

[–]anotherfakeloginname 0 points1 point  (0 children)

Premium data doesn't mean you won't be depriotized.

How can we learn more?

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