u/jayermac

Hi everyone, I just opened a SoFi Checking account and I’m trying to use it to pay my monthly rent.

My landlord requires a monthly payment that is more than $1,000, so Zelle won’t work because of the transfer limits. I also looked for an option to set up a recurring external transfer to another person, but it seems SoFi only allows linking external bank accounts that are in my own name.

Wire transfers are available, but they charge a $30 fee each time, which I want to avoid.

Is there any way to set up a free recurring “standing order” or automatic rent payment from SoFi to a landlord (like ACH transfer or bill pay)? Or is there a workaround people use for paying rent from SoFi without Zelle limits or wire fees?

Thanks in advance.

I recently moved to the U.S. and need a car because public transportation in my area is unreliable. I'm a brand new driver with no experience, and I'm thinking about getting a Toyota Corolla.

I'll only use it for work and grocery shopping, probably less than 20 miles a week. I'm single, so I'll be the only one driving it.

I'm trying to decide between buying a used or brand-new Corolla. My biggest concern is that I know absolutely nothing about cars. I'm worried that if I buy a used car, I won't know if it's actually in good condition or if it has hidden problems that could end up costing me a lot in repairs.

That's why I'm tempted to just buy a new one for the peace of mind and warranty. But at the same time, I'm a new driver and not very confident yet, so I'm wondering if buying a brand-new car is a bad idea.

What would you do if you were in my situation? Is buying a used Corolla still the better choice, or would you go with a new one?

I recently moved to the U.S. and have about $50,000 in cash, but I'm not very financially literate and I'm not sure what I should do with it.

I've heard people talk about high-yield savings accounts, brokerage accounts, and investing, but I don't really understand the best approach. I'm single, have no kids, rent my apartment, and currently have no debt.

A little about my situation:

• $50,000 in cash savings
• Income will be around $100,000/year
• No debt
• Renting
• No dependents

My questions are:

1. How much should I keep as an emergency fund?
2. Where should I keep that emergency fund (HYSA, regular savings account, something else)?
3. What should I do with the rest of the money?
4. Is it better to keep money in a HYSA or open a brokerage account with a company like Fidelity?
5. I'm open to investing in stocks, but I don't want to put a huge amount into individual stocks since I'm a beginner.

What would you do if you were in my position? Any advice for someone just starting to learn about personal finance in the U.S. would be greatly appreciated.