Editing Finance (section)

== Expenses ==

=== Cryptocurrency ===

==== On and off ramps ====
Kraken is the best centralized exchange (CEX) for buying cryptocurrencies. You can get the best rates by using [https://pro.kraken.com Kraken Pro] (it's free, just a different user interface with lower fees) and checking "Post only."

Coinbase is the best way to liquidate USDC for USD– it does so at a 1:1 ratio with high limits.

=== Medical debt ===
* Medical debt below $500 will not show on a credit report
* Once debt gets sent to collections, you can usually negotiate for a lump sum payment 20-40% off
* If the debt was sent to collections recently, you can often still pay with the hospital directly
* Ask the hospital or collections agency to itemize the bill, which will often reduce the amount
* (Charisma roll required) You can "call bait" a debt collector into committing an FDCPA violation, which can reduce the amount of debt by up to $1000

==== See also ====
[https://www.reddit.com/r/UnethicalLifeProTips/comments/hr6ccy/ulpt_how_to_dispute_medical_debt_the_right/ How to dispute medical debt the right way]

=== Reimbursements ===
When reimbursing friends, include "reimbursement" in the memo field. This ensures the IRS is aware the and the money is less likely to be scrutinized as possible income. The IRS has required Venmo, Cash App, PayPal, and other p2p money transfer apps to report transactions to them if the total received exceeded $5000 for the 2024 tax year, and intends to lower it to $600.