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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What one bit of financial advice do you wish you could've given yourself five years ago? | Advice to myself: the benefits of being self-employed totally outweigh the risks! |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What one bit of financial advice do you wish you could've given yourself five years ago? | Get an advanced degree. This should increase your earning power. Also learn how to use a computer, this should also tend to increase your earning power. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What one bit of financial advice do you wish you could've given yourself five years ago? | I wish I would have known macro-economics taught by the Austrian School types at The Mises Institute. Their teachings would have compelled me to do the following: |
Share your insights or perspective on the financial matter presented in the input. | What one bit of financial advice do you wish you could've given yourself five years ago? | Bank every dollar possible to have more cash available for investing during the 2008/2009 crisis. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What one bit of financial advice do you wish you could've given yourself five years ago? | Planned my grocery shopping better. You can't just wake up on Saturday hungry go to the grocer and buy what looks good. Take the time to clip some coupons and more importantly make a shopping list. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What one bit of financial advice do you wish you could've given yourself five years ago? | Do your homework on all types bonds and other lower-risk instruments, including bond funds and ETFs. I left too much money sitting around as cash over the last 5 years. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What one bit of financial advice do you wish you could've given yourself five years ago? | When I was contracting I wish I had joined a tax efficient umbrella organisation rather than just work as a sole trader. I also wish I had put money aside to pay my taxes rather than just spend it all. :( |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Flexplan - a company is taking over another, do I pay the balance? | This is only one of a series of questions your friend needs to understand. They will also need to know what happens to: vacation balances; the vacation earning schedule; retirement fund matching; the pension program; all the costs and rules regarding health, dental and vision;life insurance amounts. Some of these can b... |
Share your insights or perspective on the financial matter presented in the input. | Can a company stop paying dividends? | Yes. Companies increase, decrease, start paying and stop paying dividends when they think it appropriate. If a company has been going through some problems and makes a loss, or even a large decrease in profits, they can choose to stop paying dividends until things improve. Many companies did this during the Global Fin... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Can a company stop paying dividends? | Dividends are supposed to be paid from company profits (in the current or previous financial years), there are nuances around what profits mean from country to country, but the link is the UK definition from the HMRC. Profits from previous financial years are commonly called retained earnings. There are a few items aro... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | CD interest rate US vs abroad, is there a catch? | Part 1 Quite a few [or rather most] countries allow USD account. So there is no conversion. Just to illustrare; In India its allowed to have a USD account. The funds can be transfered as USD and withdrawn as USD, the interest is in USD. There no conversion at any point in time. Typically the rates for CD on USD accou... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | CD interest rate US vs abroad, is there a catch? | If you invest in a foreign bank you are subject to their financial rules and regulations. If you put your money with their CD it will be converted to UAH (grivna) and you will be paid back in UAH, which introduces the exchange rate risk. FDIC is not the only reason why a CD in a US bank pays a lower interest, but it c... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | CD interest rate US vs abroad, is there a catch? | I think your approach of looking exclusively at USD deposits is a prudent one. Here are my responses to your questions. 1) It is highly unlikely that a USD deposit abroad be converted to local currency upon withdrawal. The reason for offering a deposit in a particular currency in the first place is that the bank wants ... |
Share your insights or perspective on the financial matter presented in the input. | Is A Company Abusing The Tax Code When It Does This, And How Does The IRS Prevent It? | A rather good IRS paper on the topic states that a donation of a business' in-kind inventory would be Under IRC 170(e)(1), however, the fair market value must be reduced by the amount of gain that would not be long-term capital gain if the property had been sold by the donor at the property's fair market value (de... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Electric car lease or buy? | There are some who argue that you should lease an electric car. These factors are in addition to all the normal pros and cons of leasing vs. buying. The technology is still new and is advancing rapidly. In 2-3 years, the newer model may have significantly improved features, range, and efficiency, as well as lower price... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Electric car lease or buy? | Electric does make a difference when considering whether to lease or buy. The make/model is something to consider. The state you live in also makes a difference. If you are purchasing a small electric compliance car (like the Fiat 500e), leasing is almost always a better deal. These cars are often only available in cer... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Electric car lease or buy? | I would like to add that from my own research, a pro to leasing over buying a new vehicle would be that with the lease the entire 7,500 federal incentive is applied directly to the lease, or so they say. If you buy a new car you get a 7,500 federal tax incentive also but if you dont have 7,500 bucks in taxes this wont ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Electric car lease or buy? | I have coworker who reported that he leased a Nissan Leaf from 2013-2016 and was offered $4000 off the contracted purchase price at the end of the lease due to a glut of other lessees turning in for a lease on the newest model with greater range. It's not clear that this experience will be repeated by others three yea... |
Share your insights or perspective on the financial matter presented in the input. | Electric car lease or buy? | The good news about maintenance is that there's much less scheduled maintenance because the cars are mechanically much simpler. See the official service schedule. Most of it is just "rotate tires / replace cabin air filter". The brake and suspension systems are very similar to those of a normal car and require comparab... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Electric car lease or buy? | I might be missing something, but I always understood that leasing is about managing cash-flow in a business. You have a fixed monthly out-going as opposed to an up-front payment. My accountant (here in Germany) recommended: pay cash, take a loan (often the manufactures offer good rates) or lease - in that order. The l... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What are some valuable sources for investment experience, when there is very little to no money to start with? | Fake stock market trading may teach you about trading, which isn't necessarily the same thing as investing. I think you need to understand how things work and how to read financial news and statistics before you start trading. Otherwise, you're just going to get frustrated when you mysteriously win and lose funny money... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What are some valuable sources for investment experience, when there is very little to no money to start with? | One way to start with stocks is by playing the fake stock market. Investigate what trading fees would be with a broker, then "invest" a certain amount of money - note it on paper or in a spreadsheet. Follow your stocks, make decisions on selling and buying, and see where you would be after a year or so. That way you... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why did the stock chart for Facebook's first trading day show an initial price of $42 when the IPO price was $38? | I'd add, this is actually the way any stock opens every day, i.e. the closing price of the prior day is what it is, but the opening price will reflect whatever news there was prior to the day's open. If you watch the business news, you'll often see that some stock has an order imbalance and has not opened yet, at the n... |
Share your insights or perspective on the financial matter presented in the input. | Why did the stock chart for Facebook's first trading day show an initial price of $42 when the IPO price was $38? | The IPO price is set between the underwriters and the specialist in the NASDAQ. There are a lot of complexities on how to get to this price, everyone is trying to pull to their own side. In the Facebook example, the price was $38 for all IPO participants. Then, once the IPO went to the secondary market, the bid/ask dro... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What actions can I take against a bank for lack of customer service? | Figure out who regulates the bank. Complain to your state banking/consumer affairs department. Complain to your state Attorney General. The Feds regulate most banks too, there are several different agencies, and I believe the way they regulate banks has changed recently. Try contacting the US Comptroller of the Currenc... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What actions can I take against a bank for lack of customer service? | I don't think the verbal confirmation from the branch manager is worth anything, unless you got it in writing it basically never happened. That said, what did you sign exactly? An application? I'd think they would be well within their rights to deny that, no matter what the branch manager said. If you actually signed a... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What actions can I take against a bank for lack of customer service? | You can complain to the Financial Ombudsman Service in Australia. I've never used them in particular but generally organizations will respond much faster once you get the ombudsman involved. However, since you say they've now kept their promises, the ombudsman is unlikely to do much more than listen sympathetically. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What is the minimum age for early retirement | You can withdraw from CPP as early as 60. However, by doing so, you will permanently reduce the payments. The reduction is calculated based on average life expectancies. If you live for an average amount of time, that means you'll receive approximately the same total amount (after inflation adjustments) whether you sta... |
Share your insights or perspective on the financial matter presented in the input. | How to use a companion fare if the total fare cost is more than the companion fare limit | You must buy both tickets in 1 transaction and the purchased ticket cannot be purchased with miles. You'll pay full price (technically a "paid published coach airfare") for the first ticket and enter in your discount code for the companion fare which will ring up as $99 + fees ($118 in your example). If the regular pri... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why big clients want the contractor to be incorporated before giving them work | They believe that it reduces the risk that Revenue Canada will deem you to be an employee and make them pay a whole pile of tax, EI, CPP and so on that should have been paid if you had been hired as an employee. It's my recollection that the employer gets dinged for both the employee and employer share of those withhol... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Do gift cards expire? Does a gift certificate's value depreciate? How long can I keep them for? | It depends on: In Canada, Ontario, Manitoba, Alberta and Nova Scotia have each enacted legislation to stop gift cards/certificates from expiring. Cards issued before the effective date are still subject to the old rules. The legislation came into effect: There are several common themes: There are still some unusual e... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How can one get their FICO/credit scores for free? (really free) | As of 2014, this answer is deprecated. Read answer here for recent developments up to January 2015. You can get a free credit report yearly, but you don't get your credit score, just the content of your report. This is useful to make sure your credit history is correct, etc. To get that, visit annualcreditreport.com. ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How can one get their FICO/credit scores for free? (really free) | I get my credit scores from all three bureaus for free - no gimmick. I use a combination of banks that offer this service to get my scores. I wrote about this sometime back in my blog. For credit report, the only place to go is AnnualCreditReport.com. I space it out so that I get one every 4 months since there is a ... |
Share your insights or perspective on the financial matter presented in the input. | How can one get their FICO/credit scores for free? (really free) | I visited annualcreditreport.com to get my annual credit report. It is only the report, not the score or FICO score. This is the only outlet I know of that allows you to get your report for free, without a bunch of strings attached or crap to sign up for and cancel later. It was very easy. I was wary of putting in m... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can one get their FICO/credit scores for free? (really free) | I've seen credit cards that provide you your credit score for free, updated once a month and even charted over the last year. Unfortunately the bank I used to have this card with was bought and the purchasing bank discontinued the feature. Perhaps someone out there knows of some cards that still offer a feature like t... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How can one get their FICO/credit scores for free? (really free) | It appears that you already know this, but FICO credit scores (as controlled by Fair Isaac Corporation) are the real official credit scores, and FICO takes a cut on their production no matter which of the 3 major credit bureaus calculates the official score (all using slightly different methods). Be careful when obtain... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How can one get their FICO/credit scores for free? (really free) | Check with your bank. As of January, 2015, the following banks and credit unions are offering free credit-scores: Announced, in the pipeline: Source: Banks to offer FICO credit scores for free Personal Experience: I've been receiving free FICO score from my credit union for more than 6 months now. Advice: Most people ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How can one get their FICO/credit scores for free? (really free) | Credit Sesame monitors your credit score for free. My understanding is that they make their money off of credit card referrals. |
Share your insights or perspective on the financial matter presented in the input. | Bi-weekly payment option | Your question is unclear about whether you are moving from bi-weekly payments or to bi-weekly payments. Let's calculate each case. Bi-weekly pay means you will be paid every two weeks. The amount for each payment will be your annual salary divided by 26, possibly with a small decrease (around 0.3%) to account for the f... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Bi-weekly payment option | Biweekly pay for salaried employees is typically calculated as Annual-salary / 26. Twice a month pay for salaried employees is typically calculated as Annual-salary / 24. If you were getting paid twice a month and now are getting paid every other week, your paycheck will be roughly ( Twice-a-month-paycheck-amount * 24 ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Bi-weekly payment option | One point that I don't see covered in the other answers yet: How does this affect the months that have 5 weeks. Do we actually lose two weeks a year? I get paid every two weeks, and pay day is always a Friday. Some months, I get paid 3 times - which is always great. If you live within your means, it's like an extra p... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I be worried that I won't be given a receipt if I pay with cash? | If this is because he wants to avoid paying taxes, will I get in trouble if I agree to have him work on my vehicle? You should check your state and local sales tax laws to be certain, but in my state you have no liability if he does not pay his taxes. That's his problem, not yours. The biggest risk for you is if some... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I be worried that I won't be given a receipt if I pay with cash? | There are number of reasons why someone doesn't want to give you a receipt for cash payment. Anything ranging from not wanting to pay taxes, to being able to deny you gave them money for service in the event you're not happy with the service and ask for money back. You won't get in trouble for giving him cash, however ... |
Share your insights or perspective on the financial matter presented in the input. | Should I be worried that I won't be given a receipt if I pay with cash? | In some states, it is your responsibility to pay the sales tax on a transaction, even if the party your purchase from doesn't collect it. This is common with online purchases across state lines; for example, here in Massachusetts, if I buy something from New Hampshire (where there is no sales tax), I am required to pay... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Canceling credit cards - insurance rate increase? | You don't need to have a bunch of credit cards lying around; just a couple is fine. Get a "rewards" card (without annual fee) that pays you back for use, and use it regularly to buy groceries, for example. Pay it off promptly each month, using the rewards, if you like, to reduce the amount you have to send in. Or you c... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Canceling credit cards - insurance rate increase? | The comments section to Dilip's reply is overflowing. First - the OP (Graphth) is correct in that credit scoring has become a game. A series of data points that predicts default probability, but of course, offers little chance to explain why you applied for 3 loans (all refinancing to save money on home or rentals) go... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Canceling credit cards - insurance rate increase? | Your credit score can be part of the algorithm for setting your rates for auto insurance. It is one of many factors including sex, age, zip code, driving record, type of car... There are some states that are concerned about using credit scores, some sates have passed legislation regarding this issue |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Canceling credit cards - insurance rate increase? | You can't ask insurers to use a particular score -- they have a state-approved underwriting model that they must follow consistently. Insurance companies make money by not paying claims, and poor credit score (including limit access to credit) increases the probability that you will file a small claim. Why? If you get ... |
Share your insights or perspective on the financial matter presented in the input. | What's the benefit of a credit card with an annual fee, vs. a no-fee card? | How would you respond to these cases: Limited card options - If someone has a bad credit record the cards available may only be those with an annual fee. Not everyone will have your credit record and thus access to the cards you have. Some annual fees may be waived in some cases - Thus, someone may have a card with a ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What's the benefit of a credit card with an annual fee, vs. a no-fee card? | Just to make this a little less vauge, I will base everything on the Mercedes Benz American Express (MB AMEX) card, which is the closest to a $100 annual fee I found on American Express's website. The benefits of a card with an annual fee generally are worth the cost if (and only if) you spend enough money on the card,... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What is a checking account and how does it work? | A checking account is one that permits the account holder to write demand drafts (checks), which can be given to other people as payment and processed by the banks to transfer those funds. (Think of a check as a non-electronic equivalent of a debit card transaction, if that makes more sense to you.) Outside of the abil... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What is a checking account and how does it work? | A savings account and a checking account (or a "demand" account, or a "transactional" account) have different regulations. For example, fractional reserve requirements are 10% against checking accounts, but 0% against savings accounts. The theory is that savings accounts are sticky, while checking accounts are hot mo... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What is a checking account and how does it work? | As others have noted, in the U.S. a checking account gives you the ability to write a check, while a savings account does not. I think you know what a check is even if you don't use them, right? Let me know if you need an explanation. Personally, I rarely write paper checks any more. I have an account for a small side ... |
Share your insights or perspective on the financial matter presented in the input. | What is the fastest way to retire, using passive income on real estate | It is worth noting first that Real Estate is by no means passive income. The amount of effort and cost involved (maintenance, legal, advertising, insurance, finding the properties, ect.) can be staggering and require a good amount of specialized knowledge to do well. The amount you would have to pay a management compa... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is the fastest way to retire, using passive income on real estate | You can't calculate how many houses it will take. To do so you would have to know how much you can charge in rent compared to how much is costs to run that particular location. If the desirability of that location changes, so does the ability to rent the place, and so does the amount you can charge. It is possible to c... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What is the fastest way to retire, using passive income on real estate | Rule of thumb: To retire with a yearly income of $X, you need to save $(20*X) -- in other words, the safe assumption is that you'll average 4% returns on your stabilized savings/investments. In the case of retiring with a $50k passive pretax income, that means you need savings of $1M by the time you retire. If you want... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why should one only contribute up to the employer's match in a 401(k)? | The matching funds are free money, so it is a very good idea to take that money off the table. Look at it as free 100% return: you deposit $1000, your employer matches that $1000, you now have $2000 in your 401(k). (Obviously, I'm keeping things simple. Vesting schedules mean that the employer match isn't yours to k... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why should one only contribute up to the employer's match in a 401(k)? | In addition to George Marian's excellent advice, I'll add that if you're hitting the limits on IRA contributions, then you'd go back to your 401(k). So, put enough into your 401(k) to get the match, then max out IRA contributions to give you access to more and better investment options, then go back to your 401(k) unti... |
Share your insights or perspective on the financial matter presented in the input. | Why should one only contribute up to the employer's match in a 401(k)? | I'd hazard that Jim is mostly worried that people are getting ripped off by high employer 401(k) fund fees. A lot of employers offer funds with fees over 1% a year. This sounds low-ish if you don't realize that the real (inflation-adjusted) return for the fund will probably average out to about 4%, so it's really somet... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why should one only contribute up to the employer's match in a 401(k)? | Early this year I wrote an article Are you 401(k)o’ed? I described the data from a 401(k) expense survey and the punchline was that the average large retirement plan (over 1000 participants) expense was 1.08%, and for smaller plans it rose to 1.24%. As I commented below, if one's goal is to make deposits with income ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why should one only contribute up to the employer's match in a 401(k)? | Unfortunately, I missed most of segment and I didn't get to understand the Why? To begin with, Cramer is an entertainer and his business is pushing stocks. If you put money into mutual funds (which most 401k plans limit your investments to), then you are not purchasing his product. Also, many 401k plans have limited se... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why should one only contribute up to the employer's match in a 401(k)? | If you exceed the income limit for deducting a traditional IRA (which is very low if you are covered by a 401(k) ), then your IRA options are basically limited to a Roth IRA. The Cramer person probably meant to compare 401(k) and IRA from the same pre-/post-tax-ness, so i.e. Traditional 401(k) vs. Traditional IRA, or R... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How To Record Income As An Affiliate ( UK ) | Every bill you write counts as income (if the bill doesn't get paid, you would count that as an expense). In cases where you don't write bills, I think the payment you receive would count as income, but you might check that on the HMRC website. So to record your income, you can basically record the payments that you re... |
Share your insights or perspective on the financial matter presented in the input. | How To Record Income As An Affiliate ( UK ) | Adsense don't pay you daily. They pay you every month (as they have to calculate the final value). I'd say you only have to declare it when it hits your bank account. £60 actually isn't that much. It only took me a couple of months of just making a few quid, to making enough to get a monthly payment, and I only tot up ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Quandl financial data : unexpected dividend | For MCD, the 47¢ is a regular dividend on preferred stock (see SEC filing here). Common stock holders are not eligible for this amount, so you need to exclude this amount. For KMB, there was a spin-off of Halyard Health. From their IR page on the spin-off: Kimberly-Clark will distribute one share of Halyard common stoc... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to help a financially self destructive person? | I learned this from a business book on managing people, but I think it applies equally well here. You can't put in what God left out of people. I know several people with this mentality about money and you simply have to make your sculpture out of the clay you have. In this case, however, it seems that ship has saile... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to help a financially self destructive person? | You say you're not on speaking terms: so you do it via your lawyer. You're divorced: so IMO your obligations are: a) To your kids b) Purely financial spousal support (if any) If she's irresponsible financially then maybe she isn't the best able to care for your children. Your lawyer ought to be able to tell you what t... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to help a financially self destructive person? | I'm afraid your best recourse may be legal. I don't know that internet is a necessity, but the court would frown upon anyone paying $4K for rent but not being able to afford to heat the water or turn the lights on. $48K a year net should be enough for her to at least keep the kids with these things. I don't know that ... |
Share your insights or perspective on the financial matter presented in the input. | How to help a financially self destructive person? | You can't help people that don't want help, period. It just doesn't work, and you will waste your time and energy while making the other person mad. Both sides end up in the same place they started except now they are frustrated with each other. In a normal situation I would advise to stop enabling her by giving her mo... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to help a financially self destructive person? | Back in the day, they had a highly effective solution for this type of crap, but it is frowned upon in modern society. The second-best solution would be to get your lawyer to put together a case that she is unfit to be around the children and that visitation rights should be revoked. Unfortunately, this will most like... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to help a financially self destructive person? | Wow. Just ... wow. We all must start where we are, I guess. The past is the past. There almost certainly isn't a cheap way to fix this. You're already on the hook for $4k per month. Your money is enabling her behavior. You'd rather not enable her behavior, but the money is part of the consequences of your divorce,... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to help a financially self destructive person? | I am no expert by any means in divorce situations, but it seems like you probably have more than enough evidence (if you can back up everything you outlined here) that the living conditions an her place are not suitable for kids. This ought to be enough for you to gain sole custody of the kids. Maybe you didn't want ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I charge my children interest when they borrow money? | I think there's value in charging family members/friends interest if it will make them take the loan seriously. The problem is that if you're thinking about charging interest because the person seems to be borrowing from you too cavalierly, it may be too late to make them take it seriously. In the situation you descri... |
Share your insights or perspective on the financial matter presented in the input. | Should I charge my children interest when they borrow money? | Tell them you will not loan them any more money until their existing debts are paid off. This is closer to how the real world works and it won't come across as vengeful or like your changing your initial "contract". If they protest, lovingly tell them that your money is not their money, and that an interest free loan f... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I charge my children interest when they borrow money? | Parents are eminently capable of gifting to their children. If it's a gift call it a gift. If it's not a gift, it's either a loan or a landmine for some future interpersonal familial interaction (parent-child or sibling-sibling). I an concerned by some phrasing in the OP that it is partially down this path here. If ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I charge my children interest when they borrow money? | Going from personal experience, my parents let my brother and me borrow money from them all the time. However there was always some noteworthy things to take into account. As an example, I borrowed a large sum of money on my student loan (we will just say it was $50,000). I had saved nearly $30,000 on my own and my par... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I charge my children interest when they borrow money? | Would you expect your parents to charge you interest if you borrowed from them? Yes, if they said so when the money was borrowed. No, if there were no terms communicated when the money was borrowed. Expectations need to be clearly laid out up-front. What is your advice? I think you are asking the wrong question of whe... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I charge my children interest when they borrow money? | This is not really the focus of your question, but it's worth noting that if you live in the United States (which your profile says you do), there are tax implications for you (but not for your children), depending on whether or not you charge your children (enough) interest. If you charge less interest than the appro... |
Share your insights or perspective on the financial matter presented in the input. | Should I charge my children interest when they borrow money? | This is largely a cultural issue. I would be appalled at the very idea that my parents would charge me interest for lending me money. Just as they would be appalled if I were to do so if lending them money. I find the idea of attempting to make money off of your children fundamentally wrong. I realize that you only wa... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I charge my children interest when they borrow money? | If they have borrowed money without paying it back, what makes you think you could get interest paid? The problem that you face first is to make clear to them that a loan is a loan. As long as they can get free money off you, they will keep borrowing. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I charge my children interest when they borrow money? | Because this is Money.SE and you're connecting it to offspring, I'd think about a discussion with them to get their agreements. From my perspective, anything (my wife and) I have will go to offspring in the end. As such, everything borrowed and not repaid simply reduces the estate by that much. Among multiple offspring... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I charge my children interest when they borrow money? | As per the age of your son you mentions i would suggest Yes, charge them an interest amount but lesser than the market rate. And give them a valid reason behind taking interest on given amount. The reason you might grab from below real incident happen with me at the time of Diwali last year. I am 26, and i am currently... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I charge my children interest when they borrow money? | In terms of preserving good relationships one approach is to charge a nominal rate of interest. maybe a few percent of the total and agree a time when it should be paid back. This may actually make them feel better about borrowing them money, especially, especially if it is something like business loan or buying a hous... |
Share your insights or perspective on the financial matter presented in the input. | Is insurance worth it if you can afford to replace the item? If not, when is it? | This entirely depends on two factors: Now let's look at what AppleCare gives you: What it covers is any manufacturing defect. It also covers you for phone support, as otherwise it's a $49-per-incident charge even for simple issues. It also covers any software issues that you may come across as long as the issues pertai... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is insurance worth it if you can afford to replace the item? If not, when is it? | In general, if you can afford to replace something, you are able to "self-insure". You really want to understand a little of the statistics before you can make a generic call, but my rule of thumb is that insurance via "extended warranty" is rarely a good deal. Here is a simple expected value math formula you can app... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Is insurance worth it if you can afford to replace the item? If not, when is it? | In regards to purchasing full coverage on your car even if you can afford to replace it, consider the hassle you have to deal with an accident that is not just the cost. As an example, my sister's car was stolen and wrecked. It was her problem to go recover the car on the other side of the state such that she would n... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Is insurance worth it if you can afford to replace the item? If not, when is it? | The answer to this question is very different depending on the type of item. From a purely financial perspective you would want to answer these questions which you may not have enough information to answer: Realistically the question I prefer to ask are: When something fails there is a big difference to me between hav... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Is insurance worth it if you can afford to replace the item? If not, when is it? | Insurance is for events that are both and Unexpected and, for many people, catastrophic events are, for example, sickness, disability, death, car accidents, house fires, and burglaries, for which you may buy health, disability, life, auto, home, and renter's insurance. It may be catastrophic for a family relying on a ... |
Share your insights or perspective on the financial matter presented in the input. | Is insurance worth it if you can afford to replace the item? If not, when is it? | Extended warranty or insurance is a tricky thing. In general, the big screen TV, or other electronics are going to become obsolete before they fail. Laptops, even Macs, are at risk for higher failure rates than other electronics. The question remaining is whether after the item has reached its 3rd or 4th birthday, if... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is insurance worth it if you can afford to replace the item? If not, when is it? | As a rule, purchasing fairly priced (minus a spread) insurance on items you can afford to replace is a bad idea. However, in addition to the points mentioned in the previous answers, one should note that many types of insurance are UNDERpriced because on average people do not make claims even though they are entitled t... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Is insurance worth it if you can afford to replace the item? If not, when is it? | As many other posters have pointed out, unless you know (and your insurer doesn't) that because of any reason you are more likely than the average to damage your computer, insuring it doesn't really make a lot of sense if you can comfortably replace it should the worst happen. In this particular case of a laptop, insur... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Is insurance worth it if you can afford to replace the item? If not, when is it? | Generically, like farnsy noted in the other answer, you will only come ahead in dollar terms when you are significantly riskier than the average insuree. Otherwise the insurance company would have higher rates to make a profit. In the case of Apple Care there can arguably be other factors involved. If you did not insur... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Is insurance worth it if you can afford to replace the item? If not, when is it? | The key point to answer the question is to consider risk aversion. Assume I suggest a game to you: Throw a coin and if you win, you get $5, if you lose nothing happens. Will you play the game? Of course, you will - you have nothing to lose! What if I suggest this: If you win, you get $10,000,005 and if you lose you mus... |
Share your insights or perspective on the financial matter presented in the input. | Is insurance worth it if you can afford to replace the item? If not, when is it? | Another factor to consider is that resale value of the laptop is quite bit more if it is still under warranty. This would apply to people who replace their laptop often. It is higher because the purchaser can be assured they are not getting a lemon. I determined this by comparing prices on ebay before selling my comp... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is insurance worth it if you can afford to replace the item? If not, when is it? | Can you afford to replace it? What does that mean? Even if insuring means overpaying, it does spread the risk. NB: This example is not about the Applecare program, which I think is a waste of money for many people. Others have explained very well if it would work for you or not. I have a Macbook but no Applecare. I ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Do companies only pay dividends if they are in profit? | Yes the company can still pay dividends even if they aren't making a profit. 1) If the firm has been around, it might have made profits in the past years, which it might be still carrying (check for retained earnings in the financial statements). 2) Some firms in the past have had taken up debt to return the money to s... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | I keep getting overcharged at the grocery store. Foul play? | Of course, there is no way for us to know whether or not the clerk is trying to rip you off $1.29 at a time, but I can't understand the possible motivation for doing so. I would imagine that most people would catch this at some point, so for a store to consistently overcharge for something like this is really bad for ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why is auto insurance ridiculously overpriced for those who drive few miles? | There are several aspects to this but at a high level it boils down to A lot goes in to insurance rating and risk projecting. You can't adjust a single variable and expect a proportional change in your premium, 7,000 miles per year just won't be 70% of the cost of 10,000 miles per year, because there are a lot of othe... |
Share your insights or perspective on the financial matter presented in the input. | Why is auto insurance ridiculously overpriced for those who drive few miles? | Not all miles carry the same amount of risk. A survey by Progressive indicated that accidents are most likely to occur within 5 miles of home, and 77% of accidents occur within 15 miles of home. Only 1% of accidents occurred 50 or more miles from home. That's from 2002, but it seems unlikely to have changed much. Since... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why is auto insurance ridiculously overpriced for those who drive few miles? | 4000 miles a year is not a few! European average is about 9000... But nevertheless... But when it comes to risk, then: 1) Nothing stops you from changing circumstances and drive 10 times as much as in previous yers. The insurance remains the same. The only thing the insurance company can do is to charge you more next y... |
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