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The mental health benefits of not living with your parents are definitely worth some money. The question is how much. That's a very personal matter, and no one else can put a dollar amount on it for you.
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Dec 4, 2020 03:07
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In America now we generally think it's normal for people to move away from home as young adults, but that's really only a late 20th-century America thing. In every other time and place, it's entirely normal for people to live with their families quite a bit longer than that.
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Dec 27, 2020 16:26
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Don't put any money into bitcoin that you can't afford to lose, and if you do put some in, for god's sake don't tell the people urging you to buy bitcoin.
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Jan 3, 2021 00:52
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Quaint Quail Quilt posted:This is true of stocks as well. The value of a company's stock is (loosely) tied to the expected future performance of that company. It can drift a lot, but there's something anchoring the stock to reality. Cryptocurrency is completely detached from anything except for its own market.
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Jan 3, 2021 16:10
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It's not at all clear that it's possible to stabilize the exchange rate of a currency in a decentralized manner.
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Jan 3, 2021 16:51
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You can pay any time between the day you get the statement and the due date. They're only going to report your payment or lack thereof after the due date.
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May 1, 2021 19:30
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TooMuchAbstraction posted:Honestly the best thing to do here is to set up automatic payments of whatever the statement balance is, pulling money from your bank account. This requires you to have a checking account that has enough in it to cover the credit card balance, but that's a good thing to have in general. Do this, but review your statement every month. Out of sight does not mean out of mind here. Also, just to be complete, the statement balance is what you need to pay to avoid interest charges, but every statement will also have a minimum payment. As long as you make the minimum payment, it won't affect your credit report. However, you will pay an incredible amount of money in interest. Carrying credit card debt is one of the biggest financial mistakes that most people get the chance to make, but there are cases where it's the least bad alternative. If you have to pay a large amount of money for car repairs right now or you'll lose your job, that's worth going into debt for. But anything short of something similarly catastrophic is not.
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May 1, 2021 20:01
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If you know for sure that you won't need the money for two years you may be able to get a higher rate of return from a certificate of deposit. Don't do that unless you're absolutely sure, though.
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May 4, 2021 21:27
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The long-run growth rate of an investment depends on its volatility as well as the average return. Trying to treat it as a series of fixed payments will lead you badly astray.
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May 19, 2021 04:07
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The length of time that you've had a credit card matters for your FICO score, so if there's a big gap between when you got your first and second cards, closing the first one can hurt you a lot.
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Jun 23, 2021 17:18
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How does the interest rate they're offering compare to the interest rate on your debts? How much would your life improve if those debts were paid off?
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Sep 17, 2021 00:34
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The insurance company's not offering you 24% APR, so you come out ahead by a lot if you take the lump sum and pay off your debt.
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Sep 17, 2021 04:11
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incogneato posted:Term life insurance can be a smart idea, especially if you have dependents who rely on your income. It's not an investment, though (ie the goal is not to make you money). It's insurance to help your dependents in case something terrible happens. This. Insurance isn't an investment, and if you think about it like one, you're going to make bad choices.
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Oct 6, 2021 20:22
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Is it a sole proprietorship?
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Oct 28, 2021 02:09
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BaseballPCHiker posted:Starting a new job soon that allows employees to buy stock at a 15% discount. Right now their $500. You can, but there are tax implications if you do. Make sure you understand what they are or you could be left holding the bag.
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Oct 28, 2021 13:18
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Track how much time you spend on this and compare your earnings per hour to anything else you could be doing.
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Nov 16, 2021 17:51
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Even if you have to pay taxes, you're still going to be up well over $10k. Why would you not just go for that?
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Dec 2, 2021 14:50
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It's not clear that there's any real benefit to increasing your score if it's 780 or higher.
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Dec 2, 2021 20:30
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I read that as 150% of what it was.
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Jan 6, 2022 00:09
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You're looking for an amortization schedule. This calculator will show you the details assuming that you haven't made any extra payments or refinanced. e: f; b
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Mar 19, 2022 15:29
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Dying with a lot of money isn't great but it's nowhere near as bad as outliving your retirement savings IMO.
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May 16, 2022 14:43
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Holding on to the RSUs is a bet that the company's stock price will grow fast enough that you're earning more interest than what the credit card company is charging you. Do you feel good taking that bet?
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Nov 30, 2022 18:26
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Medullah posted:I haven't had to rent in 20 years, but my oldest niece is apartment hunting right now. She told me she just applied at a place that had an APPLICATION FEE of $750...that is ridiculous to me, and seems like it shouldn't be legal....but again, I haven't had to rent in recent times. That's definitely not normal right? Where is she looking?
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Dec 5, 2022 15:33
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nitsuga posted:How does it end up costing you? Similar situation here, but I can relatively easily fund my 401K and IRA. Just doesn’t make sense to me how paying off debt early is detrimental, even if it’s just 4% or so. Opportunity cost? Paying down your mortgage is equivalent to buying bonds that pay your mortgage's interest rate. If you can buy bonds that pay a higher interest rate for the same price, you're forgoing future income by making the mortgage payments.
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Feb 4, 2023 18:01
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Motronic posted:Am I missing something? It seems much worse than that. Bonds are saleable even before maturity. It's the definition of liquidity, where home equity is very much the opposite of liquidity. Especially your primary residence. Sure, bonds can be sold, but home equity loans exist too, so money you put into paying down your mortgage principal still has some option value. That's not a level of detail that's necessary for the question asked, though.
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Feb 4, 2023 20:53
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Pay the statement balance when you get a statement. That's not procrastination; it's just normal credit card user behavior.
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Mar 22, 2023 18:59
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"you have to pay your bills on time" is not really something that requires a detailed tutorial. Is she past that point at least?
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Apr 7, 2023 17:07
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In that case something like Personal Finance For Dummies is probably a good choice.
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Apr 7, 2023 17:29
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You could consider municipal bonds as well. Yields tend to be a little higher than US treasuries, AAA munis are pretty low risk, and most of them aren't taxable.
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Apr 11, 2023 15:53
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Ghostnuke posted:How does the hive feel about getting a heloc to pay off credit cards? In this hypothetical, I've got plenty of money to pay the monthly minimums but it will take a while. Seems like paying them off with a much smaller payment and interest rate would be nice? But I know giving someone a leash on my house is probably not optimal... The phrase "picking up nickels in front of a steamroller" comes to mind.
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Jul 3, 2023 18:30
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You're better off not going through the dealer for financing but if supplies are low they might refuse to do business with anyone who doesn't take their financing. I'm not sure that that's a concern right now but it has been at several points in the past couple years. Refinancing is an option but that has details you'd have to look into.
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Jul 30, 2023 17:25
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What are the interest rates?
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Oct 16, 2023 02:26
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The other info you need is what the interest rates are on certificates of deposit right now. If you can get higher interest rates, you're better off buying one and just paying off the loan normally.
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Oct 16, 2023 16:04
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Paying down the highest interest debt first is optimal if your goal is to have as much money as possible at the point where all the debt is paid off, but if you're optimizing for something different (e.g., cash on hand), then it might not be the best strategy.
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Jan 29, 2024 22:51
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Umbreon posted:I believe you, so I'm trying to find a good way to calculate so I can actually see the numbers myself and see exactly how much that flexibility would cost me. Would any random auto loan calculator do or is there a better way to find that out? The PMT function in Google Sheets does what you want.
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Feb 6, 2024 16:06
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A short term CD is going to be a good bet in terms of rate of return and safety. You can't touch the money while it's in there, but since it's a tax payment anyway, you don't want to.
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Mar 26, 2024 17:45
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If she takes the job, how much longer would it take you to save up for those renovations assuming no major unplanned expenses?
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Apr 8, 2024 17:42
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You need a lawyer.
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Apr 23, 2024 14:38
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If it's her lawyer, fine, but you need to talk to them and understand the implications of the contract you're looking at. Don't assume that anything's been reviewed cause it's your rear end on the line if this goes all pear-shaped.
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Apr 23, 2024 15:11
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| # ¿ May 4, 2024 10:36 |
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Personal Finance for Dummies is a perennial classic and worth taking the time to read.
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Apr 28, 2024 16:39
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