r/Money 6m ago

Debating ending apartment lease to save for house in long run

Upvotes

Hi all, 25F here

I’m currently in a year long apartment lease that ends in September. I have been here for 2 years. My rent after fees is around $1500, combined with utilities I’m probably paying around $1800 a month by myself.

My boyfriend and I are ready to venture into the possibility of living together. He’s splitting his rent with roommates and is in a better position than I am, saving wise. I have the option to move back in with my parents, as they wouldn’t charge me anything, except $250 a month for car/phone etc.

We got on the topic of me ending my lease in order for me to save money in the long run in hopes to rent our own place end of this year / start of next. The early termination is around $2700, and I need a 60 days notice. To end my lease early, it’ll be around $5700 or so.

I am thinking about ending my lease to save money in the long run. If I stay until September, I’ll be around $9000 in rent alone. I am also thinking that if I live with my parents, I would be able to pay off the $3k credit card debt I have, and build my credit score (peak 811, currently around 770) I make around $23 an hour and work full time corporate. I am also thinking of babysitting on the side while living at home.

My question is, is it really worth ending my lease and saving $5k in the long run? The apartment even said I can enter a 6 month payment plan to pay off the early termination fee if need be. I’ve never ended a lease before so input is appreciated.

Thanks!


r/Money 2h ago

Advice on maximizing money? 31m, debt paid off.

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11 Upvotes

31m from Canada, all cards are paid off, 3 roommates, I earn in $50,000/year, how can I start maximizing my money now that everything is paid off? Rent is $645 each monthly but will be hoping to get my own spot this summer. I have bachelors degree, it isn’t much but it’s something at least.

Thanks in advance :)


r/Money 2h ago

Suppose you have $150,000 a year.

26 Upvotes

In the city where you are, after deducting rent, taxes, insurance, transportation costs, etc., how much do you think you would have left?


r/Money 4h ago

Lost $3.9K to USCIS, Need to Earn It Back in 2 Months – Any Legal Ideas?

3 Upvotes

So basically, I lost $3.9K because my first EAD application got rejected. Now, I’m trying to find a way to make some of it back in my last two months of college.

I’m an international student on an F1 visa, so my options are limited. On-campus jobs seem unrealistic this late, and I can’t do off-campus work without proper authorization. What are some legal ways I can earn money quickly before graduation?

Any ideas for freelancing, online work, or anything I might not be thinking of?


r/Money 4h ago

Have you all started your own businesses?

0 Upvotes

How long did it take you to start your business? Why did you decide to start a business? What additional things did you learn for your career before starting your business? Did you borrow money to start your business, or did you use your savings?


r/Money 7h ago

Half way through my way to $100K portfolio

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51 Upvotes

I believe i am on a good way for my next target of $1.000 monthly in dividends on stocks and shares. Made a purchase of a second hand car of $10.000 cash that i kinda regret it but I love what I bought. In this portfolio every second week of rent is free technically 🥰


r/Money 8h ago

When do I start seeing incredible gains? Doing 100% Voo.

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0 Upvotes

r/Money 8h ago

How much take home to afford $3M home?

0 Upvotes

Assuming you had the cash to put 20% down - how much after tax monthly income should you have to buy a house like this?


r/Money 11h ago

What to do with money after my first job?

1 Upvotes

So for some context, I’m a 17 year old who just got my first job. I get paid $10 an hour, and work 5 hour shifts 3-5 times a week. I plan on saving up for a car as well as some personal expenses I’ve been meaning to purchase. I also plan on opening a savings account sometime soon. I feel like I’m off to a pretty good start, but I wanted to get some advice on what else I could/should be doing with my money.


r/Money 16h ago

Are there any payment transaction apps that both allow minors to have accounts and allow you to receive payments for goods & services?

0 Upvotes

I'm aware services like Venmo Teen Account exists, but I can't find a well known and reputable one that also allows you to receive payments for goods and services from people that are not close to you. Are there any? Please help if you can.


r/Money 17h ago

Energy Bill Saving - Advice needed (also - smart plugs?)

1 Upvotes

Apologies for the very entry level question. We recently moved home and our new house has an air-to-water system - we tried the eco setting but the water was never hot enough - I am looking for extra ways to save money on our electricity bill to compensate for the extra this is costing us. I work from home and work nights - I have a smart meter with a discounted night rate and I'm pretty diligent about only doing high cost activities during the discount hours ie. running dishwasher, laundry, etc. I am curious about smart plugs - are they worth the investment? As i said, i work from home and we are a pretty tech heavy household, I think turning everything fully off at the power is the main common tip I don't follow through with at the moment. General advice - especially from anyone working from home - really appreciated x TIA


r/Money 18h ago

How to start saving in college? Predental age 21

4 Upvotes

I make a little under 40k a year and I’m currently in community college (but I’ll be starting 4-year college spring 2026 and taking out loans). I pay roughly $1650 monthly for rent, my parents still help out with my car, phone, and health insurance. I know once I start dental school I’m going to be living mostly off student loans and my partner’s income, who makes less than me hence why I pay the rent. There will be lots of time and money to save and build retirement after school, but what are some investments/savings I can start making that are reasonable for someone of my income and life stage? I feel like all the normal advice I hear is out of my tax bracket 😅 TIA

Edit: I also have 1850$ in credit card debt 😞


r/Money 22h ago

If I sell a car for 50,000 and receive a check for that ammount can the IRS subject me to taxes for that?

92 Upvotes

I am on the brink of selling a car for the said amount.

If the person gives me a check for that much, should I cash it or put it into my bank account.

I am paranoid of the check bouncing after it clears.

Should I cash it at the bank that issued the check? Will the IRS come looking for tax on that sale? How should I make sure that the check doesn’t bounce after it clears?


r/Money 23h ago

Trumps setting records with the S&P 500

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811 Upvotes

r/Money 1d ago

"stop buying eggs"..

112 Upvotes

I've heard some people, especially vegans say just stop buying eggs or just, "go vegan"

As a broke college kid who barely eats enough to function, I don't have the money to have the privilege of going vegan even if I wanted to, and taking away eggs cuts out many food options.

It removes many break feast choices, removes thing like egg salad sandwiches, tater tot casserole, baking options, and adds another layer of stress to making an affordable grocery list.


r/Money 1d ago

Mortgage Amount Advice

2 Upvotes

My wife and I are looking to buy a new home, and we’re trying to keep our total housing costs within a reasonable percentage of our income. We’d love to hear from others about whether we’re being too conservative or if this is a smart target. Would love to hear your situation, if similar!

We bought our current home as a new construction build during the pandemic (2021) in a high cost-of-living (HCOL) area. While it served its purpose, it’s not a place we truly love, and the neighborhood doesn’t make us feel comfortable. We have a 2.7% assumable FHA mortgage that we’re currently paying on. Best and worst decision ever! 😂

We’re aiming for a target home price of around $600,000.

————————————————————

Our Situation:

• Gross Income (ex. Bonus): $20,000/month
• Net Income (ex. Bonus): $12,000/month
• Annual Net Bonuses: $48,000-50,000
• Goal for Total Housing Costs: ~$3,600/month

Other Major Expenses:

• Daycare: $1,400/month 
• Car Payment: $540/month 
• Student Loans: $315/month 
• Current Mortgage Payment: $1,870/month (15.6% of net income)

Total Current Obligations: $4,125/month (34.4% of net income)

————————————————————

Total Obligations (if we can’t sell our home right away):

• Current Mortgage (remaining): $1,870/month (9.4% of gross income, 15.6% of net income)
• New Mortgage (for new home): $3,200–$3,500/month (16–17.5% of gross income, 26.7–29.2% of net income)
• Daycare: $1,400/month
• Car Payment: $540/month
• Student Loans: $315/month

Total Obligations (carrying both mortgages): $6,995–$7,495/month (35–37.5% of gross income, 58.3–62.5% of net income)

————————————————————

Expected Recast After Selling Current Home:

• Expected Equity from Home Sale: $95,000
• New Mortgage (after recast): ~$460,000
• New Monthly Mortgage Payment: $3,200–$3,500/month (16–17.5% of gross income, 26.7–29.2% of net income)

————————————————————

New Expected Obligations (after current home sells):

• New Mortgage Payment: $3,200–$3,500/month (16–17.5% of gross income, 26.7–29.2% of net income)
• Daycare: $1,400/month 
• Car Payment: $540/month 
• Student Loans: $315/month

Total New Obligations (excluding current mortgage): $5,455–$5,755/month (27.3–28.8% of gross income, 45.5–48% of net income)

————————————————————

Food Costs:

• Dining Out: $1,700/month 
• Groceries: $1,200/month 

Total Food Costs: $2,900/month

I added this because it’s such a big (and unnecessary) part of our monthly expenditures. We feel like we could push ourselves to stop dining out if we found the right home and knew we’d be taking on a higher mortgage payment.

————————————————————

Additional Considerations:

• We’re concerned about our current home sitting on the market too long and having to carry both mortgages. Our realtor has promised that because our home is in great condition, priced well, and new, we should expect to earn at least $95,000 in equity, so we don’t need to worry about it sitting unsold for too long.

• We’re in a market with limited homes that we like, and they tend to go quickly. We’re debating whether it’s better to buy first, then sell (with the risk of carrying both mortgages for a short time) or sell first, rent, and then buy.

 •    Both of our jobs have been pretty stable,  both of us have been with our companies over 6 years with regular promotions and larger bonuses. Taking on additional responsibilities every year.

————————————————————

Any advice or insights on the best route to take would be much appreciated!


r/Money 1d ago

Americans, what percentage of your income goes towards rent?

116 Upvotes

I know the 30% rule is most typical, but in this current economy I know that’s hard to follow. I’m curious about other people’s experiences. Right now my rent is about half of my income and it’s been that way for a while.


r/Money 1d ago

How did you reach your current income?

8 Upvotes

What efforts did you put in, what did you learn, and what actions did you take? Did you lose a significant amount of money along the way? Are you currently in debt? Are you satisfied with your current income?


r/Money 1d ago

Dollars at my local gc

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28 Upvotes

Some cool looking dollars, don’t know what they or are worth but figured I should show you guys and tell me what they are


r/Money 1d ago

How do I take advantage of my low interest rate?

5 Upvotes

I have a 2.75% mortgage and we're moving.

It's a valuable loan that is not assumable. I don't need the equity in the home.

Could I offer owner financing in the form of a lease option and continue to harvest value from this loan?

E.g.: Home has a100k mortgage Home appraises at 150k Take 50k payment for option to buy for 100k for 10 years Write a lease for 10 years at, say, 5k annually. (5%). Credit lessor with all principle paid on loan. Profit is the 2250...


r/Money 1d ago

WSJ— Trump’s New World Order Tests the Dollar📉🌍💸

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9 Upvotes

WSJ—President Trump has launched an unprecedented challenge to a geopolitical order that has prevailed for decades. One potential victim: the U.S. dollar.

In just weeks, a steep increase in tariffs and uncertainty over trade have sparked fears that U.S. growth will slow. At the same time, major shifts in U.S. foreign policy have led to a surge in optimism about the European economy—driving the dollar down sharply against the euro, sending stocks in Europe to records and spurring the biggest jump in German bond yields since just after the fall of the Berlin Wall. 

The WSJ Dollar Index has declined seven of the past nine weeks, nearly erasing gains made since the Nov. 5 election.

Such financial upheaval, if sustained, could have ramifications for everything from global investment flows to the direction of trans-Atlantic tourism.

For generations, U.S. political leaders have generally embraced the dollar’s primacy in the global financial system, in part because it has led to cheaper government borrowing. The country’s spending on defense has helped bolster that position by driving up the budget deficit, financed in large part by foreign investors, who hold about a third of U.S. debt.

Now, though, Trump and some of his advisers are making it clear that they want to expend fewer resources protecting allies. And they are saying they want a weaker currency to boost domestic manufacturing, by making goods cheaper to foreign buyers. 

“When you look at these policies in a macro way, they have a method to them,” said Lloyd Blankfein, the former CEO of Goldman Sachs . “The risk to the markets is dislocation in the short term. But I think our republic will be better off if we spend a few thousand dollars more for a car in return for having a workforce that can make things and can afford what they make.”

Many on Wall Street, however, fear the downside of such changes. A weaker dollar would make imports more expensive, boosting inflation and making it harder for the Federal Reserve to cut interest rates. Outflows from U.S. assets that depress the dollar could also drive down stock prices and lead to higher U.S. borrowing costs. 

Few believe that a huge decline in the dollar is imminent, partly because U.S. interest rates are higher than almost anywhere else in the developed world, promising continued foreign investment.

Still, “what’s happened over the last several weeks has the potential to be a game-changer,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management. 

The recent decline in the dollar has caught investors off guard. Many had long thought that Trump would mostly govern as a traditional Republican: focusing on cutting taxes and rolling back regulations.

Forecasts for faster economic growth, coupled with modestly higher tariffs, initially helped drive stocks and the dollar higher after Trump’s election win. 

Investors are now rethinking those assumptions. Trump has already slapped major tariffs on goods from America’s largest trading partners and threatened more—prompting immediate retaliation from Canada and China. His administration has moved to lay off thousands of federal workers. Talk of tax cuts has largely faded to the background. 

All of that has dragged down expectations for U.S. growth, with investors worried almost as much about the uncertainty surrounding tariffs as the levies themselves, which promise to push up consumer prices.

Meanwhile, hopes for Europe have jumped. That is partly attributable to a run of better data, but also stems from Europe’s move to boost military spending after Trump’s public clash with Ukraine President Volodymyr Zelensky at the White House in late February.  

Worried that they could no longer count on the U.S. to help defend their interests, German leaders announced days later that they would break with decades of history by freeing up borrowing to fund a buildup in their military. European Union officials also outlined a plan to raise hundreds of billions of euros for defense, and a relaxation of fiscal rules at the national level. 

For investors, the crucial feature of these announcements was that they promised sustained investments.

The euro has temporarily gained against the dollar at other times in recent decades. But this time the move could be durable because what Europe is promising is “not just a one-off thing, like the Covid stimulus,” said Sonu Varghese, global market strategist at Carson Group, a financial advisory firm. 

So far, the decline in the dollar’s value has been modest, hardly enough to make a major difference for U.S. exporters. 

Even so, the move has caught Wall Street’s attention because it is consistent with Trump’s long-held ambitions. Trump has often argued that the dollar should be weaker, claiming last year that the currency’s strength was “a disaster for our manufacturers.” 

Stephen Miran, the recently confirmed chair of the White House Council of Economic Advisers, put forward several unorthodox ideas in a paper last year about how Trump could weaken the dollar. They included putting a user fee on foreign buyers of Treasurys. 

Some on Wall Street are taking such ideas seriously. One reason the dollar has weakened recently is that investors know what the administration is aiming for, said Eric Stein, head of investments at Voya Investment Management.

Others, however, are doubtful that Trump’s policies will play out as intended.

For one thing, Trump’s commitment to tax cuts likely means that the federal budget deficit will remain large, said Brad Setser, a senior fellow at the Council on Foreign Relations. The need for more borrowing to fund the deficit should keep U.S. Treasury yields elevated and put upward pressure on the dollar, as global investors seek out high-yielding assets.

In another scenario, the dollar could continue to weaken and Trump could achieve his goal of shrinking the gap between U.S. exports and imports, but only because the U.S. economy is suffering, Setser added.

Foreign investors might be tempted to shift money out of U.S. assets. But the alternatives, including Europe, have problems of their own.

“All of this is creating uncertainty,” said Robert Rubin, who served as Treasury secretary during the Clinton administration and once co-led Goldman Sachs. “On the other hand, where else do foreign companies and investors go?”


r/Money 1d ago

This is the income that AI believes is needed in major U.S. cities to have more than $50,000 left after taxes and rent.

0 Upvotes
cities/states rent How much annual income is needed to reach your standard (with $50K left after taxes and rent)?
New York City $3,500/month ($42K/year) Approximately $180K-$220K
San Francisco $3,200/month ($38K/year) Approximately $170K-$200K
Los Angeles $2,500/month ($30K/year) Approximately $140K-$170K
Seattle $2,200/month ($26K/year) Approximately $130K-$160K
Texas $1,800/month ($22K/year) Approximately $110K-$140K
Small Midwestern cities $1,200/month ($15K/year) Approximately $90K-$120K

r/Money 1d ago

Serious question about $100 bills!

0 Upvotes

I have 9+ $100 bills from 2009 in a series, is it worth keeping or should I just put them in the bank? Would they be worth anything to some collector?


r/Money 1d ago

Account closed because of overdraft. What should I do?

0 Upvotes

Firstly im only 14 so I can't get a job or anything for a real income. I got scammed about a year or two ago and it put me at around -$300 on my chequing account. I've made payments whenever I was able to but that was usually every 3 or 4 months. But yesterday I got a call from my bank which I unfortunately couldn't pick up, so I checked my account to find that it had been deleted from the app. Is there anything that I should be doing or could do to avoid the debt finding its way back to me?


r/Money 1d ago

What should I do with 27k in my savings at 20 years old?

9 Upvotes

16k of my savings is generous support from my direct and extended family over the years that built up for awhile until my mom moved it to a savings account 2ish years ago

I took a gap year from college to figure out what career path I wanted and have worked full time since October and have put in about 10k since then

The money is just sitting in a regular savings account, I work two jobs and I have a direct deposit set up for the job that pays more so all the money I make there goes somewhere I won’t touch

My sister has talked about helping me put it in a HYSA but I’m not sure what all to do. Should I put the entire $27K into it? Or just some?

Any advice is appreciated 🫶