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

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1500 questions
32
votes
6 answers

Is "bank.gov.ua" the official website of the central bank of Ukraine?

Numerous websites have been encouraging people to donate to Ukraine, to their official government, via this website. (Note: ctrl+f "en" to find the English switcher.) Is this website legit (ie, controlled by the official government of…
blueorchid3
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4 answers

Will the Government come after my daughter's assets if I can't pay my student loans?

I’m 60 years old. Got my masters degree finally. Now i cannot find a job. No one would hire me. I applied 1000 applications. Still no luck. I have $10,000 student loan. How to handle this? I live with my daughter in her house and she provides for…
user113517
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32
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7 answers

Can someone make money by cycling through currencies and exchanges?

I am not a finance expert at all, but I recently got this idea from a conversation with a friend on whether it is possible to make money by starting with a fixed amount of dollars and then try and keep exchanging it for other currencies and finally…
Kaki Master Of Time
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32
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2 answers

I'm giving my car to my sister. Should I gift it or sell it?

I have a car registered in Connecticut. I want to give the car to my sister in Oregon. The blue book value of the car is approximately $5000. (It will be a very generous gift - but the car was a gift to me from our dad anyway, so I suffer no real…
hairboat
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32
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3 answers

Made a down payment for a vehicle in cash for $10,000 and a Form 8300 was sent to IRS

What does the IRS do with forms 8300 they receive? I have never bought in cash, but made a car down payment for $10,000. A notice was sent to me that said a Form 8300 was filed with The IRS. Do they receive it and make a memo on my return, or does…
lala
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32
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11 answers

Should I wait for a recession to buy a home?

I am currently renting, but am considering buying a house in the future (1-3 years). I want to know if I should even consider waiting for a future recession to buy a home at a better price. Some would argue that we are due for a recession (seems…
Snowman8734
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32
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9 answers

How do you send money when you're not sure it's not a scam?

I've been hunting around for an apartment recently, and along with the countless posts on Craigslist, I found one with a good price but slightly strange story. The poster claims to have been sent to another office out of state by his company for a…
TheEnvironmentalist
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32
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8 answers

Paying Off Principal of Home vs. Investing In Mutual Fund

I close on my first home October 21. I've locked in a 4.330% APR on a 30-year fixed conventional mortgage and my payment will be ~$800/month. I've put the required 20% down to avoid paying PMI. However, the $800/m isn't even 25% of my take-home…
Chuck Callebs
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32
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4 answers

How does the math work when buying airline miles?

Signing up for credit cards to get airline bonuses and flying more are good options to earn miles. With an average redemption/valuation of 1 cent/mile or maybe 1.2 cents/mile why would it make sense to buy airline miles at 1.7 or 2 cents/mile?
perennial_noob
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32
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6 answers

How to show a landlord what we have in savings?

My wife and I will be moving to a new, major US city soon, and will be renting an apartment. For the first 18 months, we will both be in graduate programs and our income will be rather low, about 2-2.5x rent. However, after she finds a job after she…
Azor Ahai -him-
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31
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7 answers

Funds deposited in my bank account. Account closed for suspicious activity. Is this a scam?

Here's an interesting story. I lost my job and I needed extra income so when I was looking for a sugar daddy on Instagram, I met a guy. He claims that he is a Business Contractor and is working for UNICEF, currently building in Lagos,…
Marissa
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31
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7 answers

Shares: are they really only for the rich/investors?

I've always been under the impression that if you want to be a player in the "shares game" you either have to be an full time investor, or someone who has a lot of money to play with. Is this true? Can the average Joe become involved? Is it worth…
James
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31
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6 answers

Why cannot LLCs be used to negate increased risks when doing leveraged investments?

Let's say that I am confident that some investment will grow by 15% per year, and that I have 10K to invest, and I'd like to use leverage to invest 100K. What stops me from creating an LLC with 10K in equity, have that LLC then borrow money (let's…
Zubo
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31
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2 answers

Why would a lender care who paid off a debt during a refinance evaluation?

We have a family member who had their father cosign a student loan for them that was recently paid off post their credit check on the father who is attempting to refinance their mortgage. The lender is asking for verification of who actually paid…
jxramos
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31
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5 answers

Preapproved for mortgage loan but won't tell me interest rates

First Time Home Buyer/Shopper Spent about 30 minutes on the phone with Quicken Loans (Rocket Mortgage). I provided all of the expected information when running a credit check and painting a financial picture. After the person over the phone let me…
8protons
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