Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

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1500 questions
49
votes
5 answers

Why do money exchangers give different rates to different bills?

I was traveling to India recently and was buying a few hundred US dollars on my way as the money exchanges didn't have any Indian rupees with them. At the exchange counter, they didn't have 100 dollar bills and they asked me if I would like to check…
Padmal
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48
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10 answers

20% monthly mining vs 5% monthly trading

I recently meet a guy who invested his money in 2 systems. 1) The first one is mining. He gave 20.000 euros to this company ([redacted]) and they promised to give him back 20% a month. There are different tiers, like from 1000 to 10000 you get…
Emil Lazzaroni
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48
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6 answers

Dealership wants more money years after vehicle is paid off?

I bought a used car in August 2014 when I lived in Texas. A few months later I paid off the vehicle. I have the title and I never heard from the dealership after the final payment. Today I got a letter from the dealership indicating there was a…
Steven M
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48
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3 answers

If a kid makes money, do the parents take on the tax liability?

Suppose your kid (8 years old) decided to set up a neighborhood lemonade stand and by some freak occurrence managed to somehow make about $3,000. How does one manage the tax liability on that income? Is it counted toward the parents' income?
Kai Qing
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48
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2 answers

Why did Tesla's stock value drop by 40 USD for just 5 minutes on August 2nd at 3:20pm?

Google Finance reports that Tesla's stock value dropped by 40 USD for 5 minutes on August 2nd, 2018 at 3:20pm What caused such a drop in stock value in the span of 10 minutes?
Klik
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48
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10 answers

I have 9,000 cash. What debt should I pay first?

I have 9,000 cash right now and I want to use it to pay some debt. It won't cover all, but I want to spend it on the best way possible. These are my current debts: Loan balance 3,867.35 - 23.55% interest rate 9/48 payments @ 145.59 / month Loan…
aGuy007
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48
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10 answers

How can a high school student value a possible degree?

From another question I asked, an answer said: If a person borrowed heavily to obtain an education where they make anything less than 75K per year then it was probably foolish. There are many jobs that earn that and more that do not require a…
Ms Jackson
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10 answers

Could a business be structured around Multi-level Marketing, yet still be ethical?

Why is there a lot of controversy and claims that Multi-level Marketing (MLM) is unethical? I see it just as a business model. While the customers and clients, distributors or resellers of your business can be seen as a traditional business model…
Nederealm
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48
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7 answers

How do I go about finding an honest & ethical financial advisor?

First things first, this isn't a "recommend a good financial advisor" question. I'm looking for advice on how best to approach the world of assisted personal finance & investing. I'm currently at university in the UK and will be finished soon. I…
TobyStack
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48
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10 answers

Is paying off your mortage a #1 personal finance priority?

Everyone always says and aims to "pay off my mortgage" But in the current climate of low interest rates is this really worth it? Should that money be put to use earning a higher yield? OR Does the prospect off another 2008 style financial situation…
user37273
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48
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8 answers

How to organize bank accounts with wife

My wife and I are recently married, both of us are working hard. At the moment we currently have the same system as prior to our marriage. Which simply put is that both of have our own bank accounts and we split the costs between us. We will soon be…
Carol.Kar
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48
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7 answers

I'm saving money too fast. What should I do?

[Apologies if this sounds (and is) like a first world problem] I get a very generous salary and I am not a spender. I am able to save $2000-$2500 every month. I've invested part of my money in some stocks but I have the feeling that I saving faster…
Rajesh K
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48
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12 answers

What are the pros and cons of a credit card for a European?

I have a bank account, with some savings. Enough to cover every expense I could have to face without delay. I also have a debit card, which I use for my offline payments, a Paypal account for most of my online transactions, and a prepaid card in…
bracco23
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48
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6 answers

Unexpected large rent payments, by moneygram, for my apartment, not by me

I'm used to scams where they ask you for moneygrams, but not the other way around. I applied for an apartment Oct 7th, and moved in Nov 13th. When I tried to pay December's rent, I saw that my account with the apartment complex lists some 4.5k in…
HammerN'Songs
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48
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12 answers

How can sister protect herself from impulse purchases with a credit card?

My little sister is 18, and currently has a bank account with a debit card. She and mom believe it might be time to get her a credit card, mostly to build up her credit rating than out of necessity. The thing is, she fears she might abuse this…
hellicat
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