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

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1500 questions
23
votes
3 answers

Why is "cheque cashing" a legitimate business?

There are many places around here, often co-located with pawn shops or payday-loan places, where they offer to "cash cheques" immediately, with some very high fee. How does this get any business? Usually cheques written to "cash" or something can…
ithisa
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12 answers

How should spare change be exchanged?

So I have about $50 in pennies, dimes and nickels. What would you do with it? I'm asking because I don't think spending hours rolling up the change and taking it to the bank is the best/most creative thing. More info: I took the change to the…
MrDatabase
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5 answers

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to consider? Would you recommend co-signing, and…
Nat_Rea
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17 answers

I spend too much money. How can I get on the path to a frugal lifestyle?

How do I live a frugal lifestyle? I'd like to live on less but it doesn't seem easy. How can I get started? I want to get out of debt and not have to work until I'm dead.
jzm6
23
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2 answers

What's the difference between a certified check, a cashier's check, a money order, and a bank draft?

The question comes from reading this answer. I've heard these terms used somewhat interchangeably, but I have no idea what the differences are. What's the difference between a certified check, a cashier's check, a money order, and a bank draft?
Steve V.
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23
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3 answers

Global credit record: Would my good credit history apply internationally?

Does my credit record apply internationally? For example, if I have a good credit record in Australia, with a car / house loan and a credit card or two, can my good credit rating be seen by banks and finance companies if I move to Canada? Or would I…
a_m0d
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8 answers

How do I know when I am financially stable/ready to move out on my own?

Some background information: I'm 23 and living at home. I have a good full time job as a web programmer that I've been at for over one year. It includes benefits and 401K (which after one year I now get to contribute to. I'm giving 5%/paycheck to…
Bryan Denny
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4 answers

Is a high credit limit on a credit card bad?

I've had a credit card for a long time, and every so often they've sent letters telling me they're increasing my available credit. Does it negatively affect my credit score to have a high limit, one that I never come close to on this card?
Don
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3 answers

If I leave my job, what happens to my flexible spending account?

I am about to decide how much money to set aside for my 2013 Flexible Spending Account (FSA). (The max this year is $2500.) But I am wondering what happens if I switch employers during the year. Does the FSA from one employer somehow roll over to…
Stainsor
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3 answers

Paying off student loans early/lump sum -- best practices?

My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest. We're both earning enough that we can no longer claim student loan interest…
internetproj
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23
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3 answers

Selling part of my land to neighbor

We have 3.5 acre (1.4 ha) land on our primary residence in Travis county area in central Texas. My neighbor has expressed interest in buying an acre (0.4 ha) from us that is backing out to them. We think this is a fair ask as we are not using that…
Texasbbq
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9 answers

Where to put an inheritance of $1.4 million upon first receiving it

Sometime in the next year, I will receive an inheritance of 1.2 to $1.4 million. I am concerned about the safety of money in a bank with threats to USD thanks to fiat vulnerability. I live in the United States and I am 75 years old. My goal is to…
Cherie
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1 answer

If I use HSA to make an emergency payment for rent, how would I inform the IRS of that?

Some background: The house I was renting was made unlivable due to an apparently exploding sewer pipe and resultant sinkhole. I am currently living in a hotel while looking for a suitable apartment. I have $2500 USD on a HSA which I rarely use.…
user100487
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7 answers

Why should I not keep my checking account at $0 and use overdraft protection?

My savings account earns interest; my checking account does not. I have overdraft protection, so if I overdraw the checking account, the money comes out of the savings account. It seems like I could earn interest on all my money by keeping it all in…
Someone
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7 answers

Why are interest rates on saving accounts so low in USA and Europe?

For example, in USA interest rates are 1-2% percents, while in Russia it is normal to have up to 8% anually for US dollars account. Same goes for Euro. For Russian ruble it can be up to 12%, but with 10% annual inflation it is the same effectively.…
Andrey
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