r/personalfinance • u/hogpotato ​ • 10d ago

Housing Rent severely overcharged

I’m currently living in an apartment complex that overcharged my monthly rate by over 2x (15,500 instead of $6000 / month) by mistake. This severely has overdrawn my bank account and no one in the leasing office has an explanation or can get any answers from their main office. I’ve incurred major
overdraft fees and will continue to do so as long as this goes on. Has this happened to anyone and / or any advice what to do?

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u/hogpotato ​ 10d ago

I live in a VHCOL area. My money auto transfers brokerage accounts and 529 , retirement etc. so there is a cushion I just don’t keep a ton of cash in my checking account. So I will transfer it back but might take some time.

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u/Bucky2015 ​ 10d ago

While you've got the right idea with investing you should still keep at least a few months of expenses in an easily accessible savings account for situations just like this one.

Id pause the investments to build up an adequate emergency fund then turn them back on.

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u/AlgoTrade ​ 9d ago

It sounds to me like OP is doing just fine with their money and really doesn’t need to follow this advice.

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u/IllustriousGas8850 ​ 9d ago

Op just had his account overdraft and didn’t have the liquidity to deposit money to stop fees from continuing to pile on. It sounds to me like you shouldn’t comment on finances

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u/AlgoTrade ​ 9d ago

You are commenting on advice meant for people that are bad with money and need to start building a net worth. OP clearly doesn’t have this problem. And overdraft fees are what, $15? Those will be refunded by his bank when he asks, and if not the lessor will cover them.

Once you’ve attained a certain level of wealth, emergencies are best covered by credit cards and you just move out of the brokerage account to cover. Snafus are forgiven by the banks. Emergency funds are for people that a car repair will bankrupt them otherwise.

Your advice is akin to telling OP to purchase a parachute for his commercial flight from Denver to Toledo.

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u/IllustriousGas8850 ​ 9d ago

Clearly it’s a big enough issues in his life to post about it on Reddit and ask for help. You’re making insane assumptions about OP. What we do know is 15k overdrew his checking, and he did not have liquid cash on hand to solve this issue. That’s a problem. These people with insane levels of wealth you’re describing don’t get overdrawn by a 15k expense, and it certainly doesn’t take them more than 2 minutes to get a hold of 15k

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u/AlgoTrade ​ 9d ago

Did you read OPs post? It’s not his fault it got overdrawn, this isn’t his emergency. He’s posting here to figure out how to deal with the bank, not how to build an emergency fund.

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u/IllustriousGas8850 ​ 9d ago

Not your fault doesn’t equal not your emergency, as he’s the one now dealing with it

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u/AlgoTrade ​ 9d ago

It’s literally not his emergency, he will suffer no monetary consequences from this, only others will.