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

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1500 questions
24
votes
11 answers

When should I walk away from my mortgage?

I bought my home in California in 2006, at the height of the boom. Now I owe $100K more than the home is worth. California is a "no recourse" state; if I stop payments, the bank can take the house and ruin my credit, but that's about it. So I'm…
Dan Fabulich
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24
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3 answers

20% APR means only 10% interest? (UK)

I am trying to get better grasp of what the APR figure means, so this example is purely hypothetical. I have entered a loan of £100,000 into an APR calculator on MoneySuperMarket with a 20% APR for the term of exactly one year. I think quite…
kamilk
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24
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6 answers

Is it worth filing taxes if I only worked an internship?

This past summer I interned at a company and just got my W-2 Form. I am a 17 year old high school student which qualified for 2 Federal exemptions, 0 State exemptions, and 0 Local exemptions. I made $5,040 in "Wages, tips, and other compensation".…
Rob Gates
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24
votes
7 answers

What happens to the shareholders when a public company declares bankruptcy?

If you are a shareholder of a public company and the company goes bankrupt, what would happen to your share? Does the share still represent your holding in the company? And if the company goes out of business, are you held accountable for the debt…
logger
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23
votes
7 answers

Does dollar-cost averaging just means taking risk later?

I am investing in mutual funds and hence reading and trying to learn about it. I was reading this answer which says lump sum investment is far more efficient than DCA. Well, that does not surprise me. I am aware that lump-sum will outperform…
Aastik
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23
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4 answers

Where can I get my girlfriend health insurance?

I have a girlfriend, she is not working, but in college at the moment. We live together, but are unmarried and have no kids. I have a considerable income of about $60k annually. We tried Medicaid, but it's been over 3 months and she has so far she…
needoriginalname
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23
votes
9 answers

I'm unemployed. Should I pay off my credit cards to avoid monthly payments?

I'm unemployed and on a tight budget with 6 months of savings. Should I pay off my credit cards to avoid monthly payments even if it reduces half of my savings? Is there a risk of the bank reducing my credit limits after payment?
Daniel Harris
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23
votes
8 answers

Paying Off Mortgage

I have owned my home for two years with a loan of $177,000.00. My monthly payments are $706.00 and I have an interest rate of 3.5%. I have just won a large sum of money and would like to use some of the winnings to pay off my mortgage, which…
Kathie McCarty
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23
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8 answers

How to split home equity fairly where contributions differed?

My partner and I purchased a house together in DC. We each put the same amount down, but because of our salary differences, I pay 2/3 of the mortgage, and he pays 1/3. We have made a great deal of money on the house and intend to sell it in the near…
RDS
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23
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1 answer

Is income from a check taxed according to the date written or the date deposited?

Scenario Let's say I was given a check from an LLC on December 15 that was written to my LLC on that same day, and I cash it on January 15 the following year. Question Will I have to claim the income for the origin year or the origin year +1? eg.…
Jacksonkr
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23
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7 answers

401(k) Contribution When Employer Has No Match?

Long time lurker, first time asker here. I've seen some similar questions to mine here, but nothing exactly in the same circumstance. I've seen almost near-consensus that the ordering for investing should be as so: Fund an employer's 401(k) up…
bhamby
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23
votes
7 answers

Would it make sense to take a loan from a relative to pay off student loans?

Together my wife and I have about $80,000 in student loans. My mother in law is in the process of selling her house. We proposed the idea of borrowing ~$50000 from her, once she sells, so that we could pay off our loans with higher rates. We offered…
Ajschuit
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23
votes
13 answers

Buying my first car out of college

I just graduated college this past week and have a job lined up making 63000 a year. I was looking at buying a $27000 used 2008 BMW 328i, financing at about 500/month for 60 months. I don't have any debt of any kind and currently don't have a car…
Brian
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23
votes
6 answers

Reporting monetary gifts as a waiter/waitress?

As a waiter/waitress, if I received money from a customer and he/she specifically said that this is not a tip, but a gift, do I need to report it at the end of the night to the restaurant? Do I need to report it on my tax return? According to the…
Michael
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23
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5 answers

Prices go up and salary doesn't: where goes delta?

I'm not sure that question is appropriate here, if it is not I will delete it. Question: I heard that in USA prices are rising, but salaries are not. This looks strange to me. It means that companies get more money for selling stuff and services,…
Andrey
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