Most Popular
1500 questions
43
votes
14 answers
Hypothetically, should I pay off the smaller + higher interest rate loan first, or the larger + higher absolute interest cost?
I have this hypothetical situation on my mind and I am not sure which is the best solution.
Given:
Loan 1: $340,000 at an interest rate of 1.69% per year
Loan 2: $40,000 at an interest rate of 3.6% per year
I have a fixed amount available to pay…
user99451
- 441
- 1
- 4
- 6
43
votes
4 answers
How can I get a job without pushing my family's income into a higher tax bracket?
I live in Seattle and turn 18 before the year's end, and I'm told my family has an income such that if I get a job and make more than $1000, then I would push my family into a higher tax bracket.
Because of this – according to my parents – our…
Jodast
- 549
- 1
- 4
- 8
43
votes
14 answers
How can I support myself financially as a 17 year old with a loan?
I'm a 17 year old Ohio high school student who makes ~$160 a month working minimum wage. I have a $3500 loan (4 year duration) to pay off for a car with ~$2880 left.
Monthly payments are ~$80 for the car plus an additional $70 for part of insurance…
CMew3
- 439
- 1
- 4
- 3
43
votes
12 answers
How to manage monthly salary
I am a 22-y/o guy starting my first job.
I am interested to know how I should manage my monthly expenses. Keeping in mind that I need to pay for my rented apartment, food, water, etc., save money for future and medical expenses, etc., how do I…
Debanik Dawn
- 531
- 1
- 4
- 5
43
votes
9 answers
What are the biggest pitfalls to avoid with student loans?
More often than not I read horror stories of people such as (I've Paid $18,000 To A $24,000 Student Loan, & I Still Owe $24,000) that acquire college debt, pay monthly for years, and end up owing the same or more than when they started.
What is the…
MonkeyZeus
- 8,473
- 2
- 23
- 48
42
votes
16 answers
Why would I ever put my money into a savings account that returns less than the current inflation rate?
I like a safe investment as much as the next guy. But can anyone give me a good argument on why I should invest in a bond or a savings account that returns less than inflation?
It seems to me that I am guaranteeing myself to lose, if I do that.…
DevShark
- 697
- 1
- 5
- 12
42
votes
7 answers
How to help a financially self destructive person?
My ex-wife is a mess, financially speaking. After the divorce, her house that she won in the divorce was foreclosed on, filed for bankruptcy, owes money to pretty much everyone that tried to help her out, etc... Does not have a job, hasn't had one,…
NeedAdvice
- 3,817
- 1
- 27
- 43
42
votes
6 answers
Why invest in becoming a landlord?
One of the most recommended ways to invest one's money still is real estate. Sure there are different ways to invest in real estate, but why does it make sense financially to buy property and become a landlord?
Here in my region a flat costs around…
sigy
- 533
- 4
- 7
42
votes
7 answers
A guy scammed me, but he gave me a bank account number & routing number. Can I use that to take out what he owes me?
This is a really weird situation. A guy contacted me regarding a business I have. He offered far in excess of my stated fees and even told me he could help me financially if I needed it, which I do. He said he was a doctor. Before he even showed up,…
red river
- 477
- 1
- 4
- 3
42
votes
9 answers
Why do stock prices of retailers not surge during the holidays?
My six-year-old (!) son asked me this question and I didn't have an answer, so I told him I'd get back to him. He asked why people don't buy a large number of shares of a company before the holiday season, when they might be relatively low, and sell…
user01101001
- 445
- 1
- 4
- 3
42
votes
13 answers
One of my stocks dropped 40% in 2 days, how should I mentally approach this?
Right after the event, I felt shocked and depressed. I've been engaging in stocks for about a year now but I've never encountered such a big jump in such a short time. What I'm planning to do is just wait for it to rise again, which I'm not sure…
Zaenille
- 4,334
- 7
- 29
- 37
42
votes
10 answers
Options for dummies. Can you explain how puts & calls work, simply?
I never understood Puts or Calls. Could anybody explain it like I were a child?
GUI Junkie
- 2,459
- 1
- 19
- 24
42
votes
3 answers
Is it a scam if someone asks for my full name, email, and bank name?
I was approached on Instagram by a painter who wants to use one of my posts as a reference for a painting for a client of his. He said my cut would be $500 and he needs my full name, and bank name for the check, along with my email. I asked if he…
Julie
- 445
- 1
- 3
- 3
42
votes
4 answers
Why do VISA "Electron" and Master Card "Maestro" cards have special limitations in when they technically work?
Translated by me to English from Swedish, from VikingLine.se:
We welcome payments onboard with the following cards:
American Express, Diners Club, Eurocard, Finnish bank cards, Master Card, VISA.
VISA Electron and Maestro cards are accepted…
Reecie
- 421
- 4
- 3
42
votes
5 answers
Is trying to learn day trading a complete waste of time?
I understand there is a lot of people, maybe even most, who believe day trading is far too risky or the person trying day trading won't be skilled enough. I have gotten interested into investing lately, so I've invested my small amount of money I…
MCMastery
- 383
- 3
- 7