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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Good way to record currency conversion transactions in personal accounting software? | I found an answer by Peter Selinger, in two articles, Tutorial on multiple currency accounting (June 2005, Jan 2011) and the accompanying Multiple currency accounting in GnuCash (June 2005, Feb 2007). Selinger embraces the currency neutrality I'm after. His method uses "[a]n account that is denominated as a difference ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Good way to record currency conversion transactions in personal accounting software? | Here's what the GnuCash documentation, 10.5 Tracking Currency Investments (How-To) has to say about bookkeeping for currency exchanges. Essentially, treat all currency conversions in a similar way to investment transactions. In addition to asset accounts to represent holdings in Currency A and Currency B, have an fore... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | 3-year horizon before trading up to next home: put windfall in savings, or pay off mortgage? | First, I would want cash around the time I made the move. I would like enough for a 20% down payment, moving expenses, and enough for 6 months of mortgage payments on the existing house. This way if the house does not sell quickly, you are safe. As you approach the time it comes to move, you can work backwards on ho... |
Share your insights or perspective on the financial matter presented in the input. | 3-year horizon before trading up to next home: put windfall in savings, or pay off mortgage? | A few points to consider - Welcome to Money.SE. This is not a discussion board, but rather, a site to ask and answer personal finance questions that are factual in nature. Your question is great, in my opinion, but it's a question that has no answer, it's opinion-based. So I'm slipping this in to help you, and suggest ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | 3-year horizon before trading up to next home: put windfall in savings, or pay off mortgage? | You may have to both save your windfall in a savings account and use it to pay down your mortgage. Almost every mortgage has some sort of pay-down option that allows you to pay off a percentage of the original principal without penalty. Any amounts above that will be penalized, most likely by the amount of interest the... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I use a TSP loan? | I don't have experience with TSP in particular, but they look to be roughly the same as 401(k) loans. If the "G Fund rate" is equal to the yield of government bonds, then your main risk is the risk that yields increase, which means the interest you're paying is less than what you would have earned on the investments. H... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I use a TSP loan? | Never borrow money to purchase a depreciating asset. Especially don't borrow money that has penalties attached. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to start investing/thinking about money as a young person? | There are books like, "The Millionaire Mind" that could be of interest when it comes to basics like living below your means, investing what you save, etc. that while it is common sense, it is uncommonly done in the world. Something to consider is how actively do you want your money management to be? Is it something t... |
Share your insights or perspective on the financial matter presented in the input. | How to start investing/thinking about money as a young person? | nan |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to start investing/thinking about money as a young person? | I think "Rich Dad Poor Dad" is a good read for understanding the basics of personal finance in a non-technical format before actually starting investing. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Any other options for cash-out/construction loans? | For alternative financing, pursue a line of credit or a Home Equity Line of Credit. (From the comments of @ChrisInEdmonton and @littleadv on the original question) |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I take a personal loan for my postgraduate studies? | If you are eligible for FEE-HELP then this is by far the cheapest way of financing higher education in Australia. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I take a personal loan for my postgraduate studies? | I would not take this personal loan. Let's look closer at your options. Currently, you are paying $1100 a month in rent, and you have all the money saved up that you need to be able to pay cash for school. That's a good position to be in. You are proposing to take out a loan and buy an apartment. Between your new mor... |
Share your insights or perspective on the financial matter presented in the input. | Should I take a personal loan for my postgraduate studies? | As mentioned in the comments, there are costs associated with owning & living in an apartment. First you have to pay maintenance charges on a monthly basis and perhaps also property tax. Find out the overall outgoings when you live in that apartment & add the EMI payments to the bank, it should not be way higher than y... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I take a personal loan for my postgraduate studies? | I would delay purchase of a condo or apartment until you have at a minimum, 6 months of living expenses including mortgage set aside in other investments that could be liquidated. If you lost your source of income though disability or layoff or an unexpected termination of a grant, you need to have that cushion or a s... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | In Canada, are options available to subsidize conversion of a house into an energy efficient house? | There may be more, but a good starting point would be the ecoENERGY Retrofit Grants and Incentives. Natural Resources Canada's ecoENERGY Retrofit program provides financial support to implement energy-saving projects. There are different application processes for homes, commercial and institutional buildings and indus... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Exercises of employee share options | Many companies (particularly tech companies like Atlassian) grant their employees "share options" as part of their compensation. A share option is the right to buy a share in the company at a "strike price" specified when the option is granted. Typically these "vest" after 1-4 years so long as the employee stays with t... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Term loan overpayment options: applied to principal, or…? | It may have been the standard practice for a long time, and indeed it still is the common practice for my credit union to apply all excess payment directly to the principal. At the risk of sounding a little cynical, I will suggest that there is a profit motive in the move to not applying excess payments to principal un... |
Share your insights or perspective on the financial matter presented in the input. | Should I carry less renter's insurance if I can self-insure? | I believe your statement is mostly correct: ...all the expert recommendations are based on an inflexible conventional wisdom that presumes that all renters are relatively resource-poor. When you purchase a $50 electronic item at the store and are offered an extended warranty for $3, most people turn it down, not only ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Using credit cards online: is it safe? | You're right that someone who, say, photographed the front of your card at the store could use it to make some online purchases. Schemes like Visa's 3-D Secure provide additional online security by having you enter your password on the issuer's website, but they aren't common yet in the US. But as littleadv says, you a... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Using credit cards online: is it safe? | So, my questions: Are payment cards provide sufficient security now? Yes. If so, how is that achieved? Depending on your country's laws, of course. In most places (The US and EU, notably), there's a statutory limit on liability for fraudulent charges. For transactions when the card is not present, proving that the char... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Using credit cards online: is it safe? | Why do online services ask for all those CVV codes and expiration date information, if, whenever you poke the card out of your wallet, all of its information becomes visible to everyone in the close area? What can I do to secure myself? I'd guess that's to protect the card company, not you. The number of the card is g... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Using credit cards online: is it safe? | The answer: don't use your actual card number. Some banks offer virtual credit card numbers (services like Apple Pay are functionally the same). Bank of America's virtual cards work like this: The virtual card number is different from your actual card number, so the merchant never sees your real card number. In fact, t... |
Share your insights or perspective on the financial matter presented in the input. | Can a F-1 student visa holder loan a car from bmw? | Most states do have a cooling-off period where the buyer can rescind the purchase as well as a legally allowed limit to how long the dealer has to secure financing when they buyer has opted for dealer-financing. If the dealer did inform you during the allowed window, they will refund your down payment minus mileage fee... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is it beneficial to my credit score if I close my youngest credit lines while preserving my current credit utilization rate? | I wrote How Old is Your Credit Card? some time ago. The answer is yes, this helps the credit score, but this factor, age of accounts, is pretty minimal. Grabbing deals, as you did, I'm actually down to a "C" for this part of my score, but still maintain a 770 score. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Is it beneficial to my credit score if I close my youngest credit lines while preserving my current credit utilization rate? | Credit Score is rather misleading, each provider of credit uses their own system to decide if they wish to lend to you. They will also not tell you how the combine all the factoring together. Closing unused account is good, as it reduced the risk of identity theft and you have less paperwork to deal with. It looks go... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | “International credit report” for French nationals? | I'm not aware that any US bank has any way to access your credit rating in France (especially as you basically don't have one!). In the US, banks are not the only way to get finance for a home. In many regions, there are plenty of "owner financed" or "Owner will carry" homes. For these, the previous owner will provid... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Rent home temporarily with new owner occupied loan | I'm assuming this is the US. Is this illegal? Are we likely to be caught? What could happen if caught? If you sign an occupancy affidavit at closing that says you intend to move in within 60-days, with no intention of doing so, then you'll be committing fraud, specifically mortgage/occupancy fraud, a federal crime wi... |
Share your insights or perspective on the financial matter presented in the input. | car loan life insurance | This greatly depends on the local laws and the insurance contract terms. If I remember correctly, my own life insurance policy does also have special terms in case I die within a year of applying, so it doesn't sound totally bogus. For car loan insurance, the amount of coverage and premiums were probably low enough for... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Calculate a weekly payment on a loan when payment is a month away | Using the standard loan formula with 21% APR nominal, compounded weekly. Calculate an adjusted loan start value by adding 31 - 7 = 24 extra days of daily interest (by converting the nominal compounded weekly rate to a daily rate). For details see Converting between compounding frequencies Applying the standard formula ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Calculate a weekly payment on a loan when payment is a month away | At time = 0, no interest has accrued. That's normal. And the first payment is due after a month, when there's a month's interest and a bit of principal due. Note - I missed weekly payments. You'd have to account for this manually, add a month's interest, then calculate based on weekly payments. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Calculate a weekly payment on a loan when payment is a month away | You'd have to look at the terms of the loan to be sure, but if the interest compounds weekly then you'd have to calculate the effect of 3 compounding periods, then compute for weekly payments. The balance after 3 weeks would be: Using Excel's PMT function for that principal balance, I get a weekly payment of $189.48. ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Do I have to repay the First-Time Homebuyers tax credit if I refinance? | The Homebuyers Tax Credit was unrelated to whether or not a mortgage was part of the purchase. You will have no issue with this credit if you refinance. |
Share your insights or perspective on the financial matter presented in the input. | Do I have to repay the First-Time Homebuyers tax credit if I refinance? | No. As long as you live in the house for 3 years, it's yours to keep. Financing has nothing to do with that. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can I get a mortgage I can't afford? | Honestly I would look for a house you can afford and one that is below the maximum amount of what they are willing to lend you. The reason is owning a house is not a quick loan that you can pay off in a year or two (unless you're rich then I would question why are you even bothering with a loan). This is a long term c... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How can I get a mortgage I can't afford? | You might also want to talk directly to a bank. If your credit report is clean, they may have some discretion in making the loan. Note - the 'normal' fully qualified loan has two thresholds, 28% (of monthly income) for housing costs, 36% for all debt servicing. A personal, disclosed loan from a friend/family which is ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How can I get a mortgage I can't afford? | Save up a bigger downpayment. The lender's requirement is going to be based on how much you finance, not the price of the house. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How can I get a mortgage I can't afford? | If you can't afford it don't buy it, the next perfect house is just around the corner. The more time you spend researching and looking at houses, the increased chance you will find the perfect house you can afford. Also, here in Australia, we (the banks as well) factor in an interest rate rise of 2% above current rates... |
Share your insights or perspective on the financial matter presented in the input. | How can I get a mortgage I can't afford? | You can ask the buyer to lower the price by the amount you are approved for and negation transferring the amount to him via a escrow.. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | I co-signed a car but i am listed as the primary account holder for the loan | The buyer can get another cosigner or you can sell the car to pay off the loan. These are your only options if financing cannot be obtained independently. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | I co-signed a car but i am listed as the primary account holder for the loan | First of all you do not "co-sign a car". I assume what you mean by this is that you co-signed a loan, and the money was used to buy a car. Once you signed that loan YOU OWED THE MONEY. Once a loan exists, it exists, and you will owe the money until the loan is paid. If you do not want to owe the money, then you need to... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Where to find site with earnings calendar? | Google finance will allow you to import earnings report dates directly to your Google calendar. See screenshot with calendar import button circled in red below. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | best free web app or tools to track one's cash flow | The answer to this question can be found in the related question Is there any online personal finance software without online banking? |
Share your insights or perspective on the financial matter presented in the input. | Historical stock prices: Where to find free / low cost data for offline analysis? | Go to http://finance.google.com, search for the stock you want. When you are seeing the stock information, in the top left corner there's a link that says 'Historical prices'. Click on it. then select the date range, click update (don't forget this) and 'Download to spreadsheet' (on the right, below the chart). For exa... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Historical stock prices: Where to find free / low cost data for offline analysis? | You may refer to project http://jstock.sourceforge.net. It is open source and released under GPL. It is fetching data from Yahoo! Finance, include delayed current price and historical price. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Historical stock prices: Where to find free / low cost data for offline analysis? | I also searched for some time before discovering Market Archive, which AFAIK is the most affordable option that basically gives you a massive multi-GB dump of data. I needed sufficient data to build a model and didn't want to work through an API or have to hand-pick the securities to train from. After trying to do th... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Historical stock prices: Where to find free / low cost data for offline analysis? | I also prefer to crunch the numbers myself. Here are some resources: |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Historical stock prices: Where to find free / low cost data for offline analysis? | There are several Excel spreadsheets for downloading stock quotes (from Yahoo Finance), and historical exchange rates at http://investexcel.net/financial-web-services-kb |
Share your insights or perspective on the financial matter presented in the input. | Book or web site resources for an absolute beginner to learn about stocks and investing? | The Motley Fool's How to Invest How To Invest Benjamin Graham's The Intelligent Investor The Intelligent Investor If you like The Intelligent Investor then try Benjamin's Security Analysis. But that one is not a beginner book. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Book or web site resources for an absolute beginner to learn about stocks and investing? | If you just want to save for retirement, start with a financial planning book, like this one: http://www.amazon.com/Smart-Simple-Financial-Strategies-People/dp/0743269942 and here's my editorial on the investing part: http://blog.ometer.com/2010/11/10/take-risks-in-life-for-savings-choose-a-balanced-fund/ If you're thi... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Book or web site resources for an absolute beginner to learn about stocks and investing? | There is only one book worth reading in my opinion: One Up on Wall Street. It's short and no other book even comes close to it for honesty, correctness and good sense. Also, it is written by the second most successful investor of all time, Peter Lynch. The Intelligent Investor has some good technical content, but the b... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Book or web site resources for an absolute beginner to learn about stocks and investing? | The Winning Investor http://winninginvestor.quickanddirtytips.com/ This is a blog and a podcast. Load a bunch of these onto your iPod and start listening. Stikky Stock Charts http://www.amazon.com/Stikky-Stock-Charts-professionals-smart/dp/1932974008 This is a beginner's guide on how to read charts. Lots of charts, not... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Book or web site resources for an absolute beginner to learn about stocks and investing? | Los Angeles Times Investing 101 http://www.latimes.com/business/la-moneylib,0,3098409.htmlstory Clark Howard's Investing Guide http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/clarks-investment-guide/nFZK/ |
Share your insights or perspective on the financial matter presented in the input. | Where can I find the nominal price of a stock prior a split into multiple companies? | When Hewlett Packard split they changed their name to HP Inc. and spun off Hewlett Packard Enterprise as a new corporation. This means HP Inc. has the same stock history and ticker (HPQ) as Hewlett Packard did so that's the one you want to search for. As you noticed this also means it's impossible to search for old Hew... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Where can I find the nominal price of a stock prior a split into multiple companies? | Yahoo Finance provides the proper closing price. HP's historical data around the split date can be found here. The open, high and low of the day are wrong prior the split, but the closing price is right and for HP, it was $26.96 USD. The next day the closing price was $13.83 USD. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to buy out one person's share of a jointly owned vehicle with the lowest taxes and fees | You should be able to refinance the vehicle and have the financing in just your name (assuming you can secure the financing). Since you are already on the vehicle registration, this would not constitute a sale, and thus would not incur additional sales tax. To remove the other person from the vehicle registration, lea... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What is the best use of “spare” money? | nan |
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 best use of “spare” money? | Congratulations! You're making enough money to invest. There are two easy places to start: I recommend against savings accounts because they will quite safely lose your money: the inflation rate is usually higher than the interest rate on a savings account. You may have twice as much money after 50 years, but if everyt... |
Share your insights or perspective on the financial matter presented in the input. | What is the best use of “spare” money? | With 40% of your take-home available, you have a golden opportunity here. Actually two, and the second builds out easily from the first. Golden Opportunity # 1: Layoff Immunity Ok, not really immunity. Most people don't think of themselves getting laid off, and don't prepare. Of course it may not happen to you, but it... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is the best use of “spare” money? | You may also want to consider short term, low risk investments. Rolling Certificate of Deposits can be good for this. They don't grow like an Index Fund but there's 0 risk and they will grow faster than your bank. For my bank as an example today's rates on my Money Market is 0.10% APY while the lowest CD (90 days) is 0... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What is the best use of “spare” money? | There's a hellova lot to be said for investing in real estate (simple residential real estate), even though it's grandma's advice. The two critical elements are 1) it's the only realistic way for a civilian to get leverage. this is why it almost always blows away "tinkering in the stock markets" in the 10-year frame. 2... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What is the best use of “spare” money? | Investing in mutual funds, ETF, etc. won't build a large pool of money. Be an active investor if your nature aligns. For e.g. Invest in buying out a commercial space (on bank finance) like a office space and then rent it out. That would give you better return than a savings account. In few years time, you may be able t... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Buying a house for a shorter term | To answer your question, you need to ask yourself Common transaction costs can be really hard to compensate in a single year. It can include house inspections, closing costs, agents commissions, etc---all together, it can be up to 6-10% of the value of your house. This is a difficult goal to beat in a year, and your m... |
Share your insights or perspective on the financial matter presented in the input. | Buying a house for a shorter term | If there are a lot of houses for sale, can you be sure that in a year or two you can sell yours? How long does the average house in that area stay on the market before it is sold? What percentage of houses never get sold? If it can't be sold due to the crowded market you will be forced to rent the house. The question ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Buying a house for a shorter term | There are two main factors at play to consider. Also, realize that no advice is universal. You need to evaluate your exact situation and do what is best for you. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Buying a house for a shorter term | When on this topic, you'll often hear general rules of thumb. And, similar to the 'only buy stocks if you plan to hold more than X years' there are going to be periods where if you buy at a bottom right before the market turns up, you might be ahead just months after you buy. I'd say that if you buy right, below market... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why not pay in full upfront for a car? | In general I'd say, yeah, if you can pay cash, pay cash. If you pay cash, then by definition you pay zero interest. If you get a loan, you'll pay interest. Most people get a loan to buy a car because they don't have the cash. Possible reasons not to pay cash when you could: One: Technically you can pay cash, but if you... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why not pay in full upfront for a car? | Possible (unlikely) reasons: But usually, yeah, if you can pay cash, you should. |
Share your insights or perspective on the financial matter presented in the input. | Why not pay in full upfront for a car? | You need to do the maths exactly. The cost of buying a car in cash and using a loan is not the same. The dealership will often get paid a significant amount of money if you get a loan through them. On the other hand, they may have a hold over you if you need their loan (no cash, and the bank won't give you money). One... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why not pay in full upfront for a car? | Two adages come to mind. Never finance a depreciating asset. If you can't pay cash for a car, you can't afford it. If you decide you can finance at a low rate and invest at a higher one, you're leveraging your capital. The risk here is that your investment drops in value, or your cash flow stops and you are unable to ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why not pay in full upfront for a car? | There many car loans at zero percent interest. Finance the car at zero percent, then take your money and invest it. If you want to be super safe buy a CD the same length as the car loan. 5 years you will get 2%. If you still want safety and a better return take up a asset allocation strategy that moves your cash to ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Paying for things on credit and immediately paying them off: any help for credit rating? | One of the factors of a credit score is the "length of time revolving accounts have been established". Having a credit card with any line of credit will help in this regard. The account will age regardless of your use or utilization. If you are having issues with credit limits and no credit history, you may have troubl... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Paying for things on credit and immediately paying them off: any help for credit rating? | The biggest risk is Credit Utilization rate. If you have a total of $10,000 in revolving credit (ie: credit card line) and you ever have more than 50% (or 33% to be conservative) on the card at any time then your credit score will be negatively impacted. This will be a negative impact even if you charge it on day one ... |
Share your insights or perspective on the financial matter presented in the input. | How should my brother and I structure our real estate purchase? | Because this question seems like it will stick around, I will flesh out my comments into an actual answer. I apologize if this does not answer your question as-asked, but I believe these are the real issues at stake. For the actual questions you have asked, I have paraphrased and bolded below: Firstly, don't do a real ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How should my brother and I structure our real estate purchase? | While I agree with the existing bulk of comments and answers that you can't tell the lender the $7k is a gift, I do think you might have luck finding a mortgage broker who can help you get a loan as a group. (You might consider as an LLC or other form of corporation if no one will take you otherwise.) That is, each o... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How should my brother and I structure our real estate purchase? | We’re buying the home right over $200,000 so that means he will only need to put down (as a ‘gift’) roughly $7000. I'm with the others, don't call this a gift unless it is a gift. I'd have him check with the bank that previously refused him a mortgage if putting both of you on a mortgage would allay their concerns. ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Buying a car - advice needed | I would actually disagree with MrChrister on this. You can afford yourself the car in this price range paid cash. I don't know how exactly you spend your income, but from my experience, in expensive California, saving $20K a year from $70K income with $800/mo rent is feasible. Having a loan on your credit report which ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Buying a car - advice needed | If it costs more to fix the car than the car is worth, then those repairs are not worth it. Hit craigslist and look for another junker that runs, but is in your cash price range. Pay to get it looked at by a mechanic as a condition of sale. Use consumer reports to try and find a good model. Somebody in your position... |
Share your insights or perspective on the financial matter presented in the input. | How much does a landlord pay in taxes? | how much taxes would I pay on my income from the rent they would pay me? The same as on any other income. California doesn't have any special taxes for rental/passive income. Bothe CA and the Federal tax laws do have special treatment, but it is for losses from rental. Income is considered unearned regular income and i... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How much does a landlord pay in taxes? | I'd recommend you use an online tax calculator to see the effect it will have. To your comment with @littleadv, there's FMV, agreed, but there's also a rate below that. One that's a bit lower than FMV, but it's a discount for a tenant who will handle certain things on their own. I had an arm's length tenant, who was be... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How much does a landlord pay in taxes? | I use a spreadsheet for that. I provide house value, land value, closing/fix-up costs, mortgage rate and years, tax bracket, city tax rate, insurance cost, and rental income. Sections of the spreadsheet compute (in obvious ways) the values used for the following tables: First I look at monthly cash flow (earnings/c... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What were the main causes of the spike and drop of DRYS's stock price? | Because it's a declining company and used as an institutional sized pump and dump with a new toxic financing every week. Look up Kalani Investments - they're behind it all. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Can a bank statement be submitted as a proof of investment? | Probably not. A debit of 50K in your Bank statement does not mean that its invested into tax saving instrument. This question is best answered by the finance department of your company. Practise vary from organization to organization. |
Share your insights or perspective on the financial matter presented in the input. | Google free real-time stock quotes | Previously, Google had a delayed update for their stock prices (15 minutes I believe). That change enabled users of Google Finance to see updates to stock prices in real-time. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Interest on Amount Exceeding CC Balance? | In the US, if your monthly statement was issued by the credit card company on January 1 and it showed a balance of $1000, then a payment must be made towards that balance by January 25 or so, not February 1 as you say, to keep the card in good standing. The minimum payment required to keep the card in good standing is ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Interest on Amount Exceeding CC Balance? | The best answer to this is: Read the fine print on your credit card agreement. What is common, at least in the US, is that you can make any charges you want during a time window. When the date comes around that your statement balance is calculated, you will owe interest on any amount that is showing up as outstanding ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Can somebody explain “leveraged debt investment positions” and “exposures” in this context for me, please? | Exposure is the amount of money that you are at risk of losing on a given position (i.e. on a UST 10 year bond), portfolio of positions, strategy (selling covered calls for example), or counterparty, usually represented as a percentage of your total assets. Interbank exposure is the exposure of banks to other banks eit... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Question about large capital gain | How much Federal Capital Gains, NYS Income tax and local tax should I expect to pay? You're going to net about 2.4 millions of dollars. Federal long term capital gains tax is 20% (plus 3.8% medicare), NYS is 8.82%. Does it make sense to investigate the tax benefits of financing the sale for the buyer? Yes. Have your ta... |
Share your insights or perspective on the financial matter presented in the input. | What is the 'real' monthly cost of a car? | How can I find out what these 'additional' costs will be when looking to buy a car? If you know what model you're interested in buying you can try out Edmund's True Cost To Own calculator. This will estimate the depreciation, taxes and fees, financing costs, fuel costs, insurance premiums, maintenance, repairs, and any... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to plan in a budget for those less frequent but mid-range expensive buys? | You would simply plan for misc. expenses in your budget, and allocate a small amount to this every time you do your budget, eventually building up a pool of money that you can then use whenever you have to make a purchase such as that. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to plan in a budget for those less frequent but mid-range expensive buys? | I use a "sinking" fund. If you want to buy a $1000 bicycle, you put $100 per month into a savings account. 10 months from now, you can buy your $1000 bicycle. If you get a $500 windfall, you can either put it in the sinking fund and buy the item earlier. If you lose some income, you can put $50 per month in the fun... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to plan in a budget for those less frequent but mid-range expensive buys? | Personally I solve this by saving enough liquid capital (aka checking and savings) to cover pretty much everything for six months. But this is a bad habit. A better approach is to use budget tracking software to make virtual savings accounts and place payments every paycheck into them, in step with your budget. The big... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to plan in a budget for those less frequent but mid-range expensive buys? | We have what we call "unallocated savings" that go into a fund for this purpose. We'll also take advantage of "6 months no interest" or similar financing promotions, and direct this savings towards the payments. |
Share your insights or perspective on the financial matter presented in the input. | Do individual stocks have futures trading | There's a market for single stock futures. The market (however small) is OneChicago, "an Equity Finance Exchange offering security futures products." I don't know how easy access is for retail investors. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Do individual stocks have futures trading | As others have pointed out, they do in fact exist. But it may be worth pointing out a possible reason that they are not as popular as commodities futures. If I want exposure to the oil market (for example,) buying oil futures has a big advantage over buying oil. Namely, I don't actually need to store the oil; I can ro... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Do individual stocks have futures trading | Things very similar to the idea of a "future" that routinely apply to single stocks are "warrants" and "options". |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Do individual stocks have futures trading | There is indeed a market for single stock futures, and they have been trading on the OneChicago exchange since 2002. Futures are available in 12,509 individual stocks, according to the exchange's current product listing. One advantage they offer over trading the underlying stock is the significantly higher leverage tha... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What percent of a company are you buying when you purchase stock? | What percent of a company are you buying when you purchase stock? The percent of a company represented by a single share can be calculated by percent = 1/number_of_shares*100% Apple comprises 5,250,000,000 shares, so one share makes up about 1.9e-8% of a company, or 0.000000019% of Apple. |
Share your insights or perspective on the financial matter presented in the input. | What percent of a company are you buying when you purchase stock? | As you can see at https://www.google.com/finance?q=NASDAQ%3AAAPL the number of apple shares at this very moment is 5.25B, so if you have 1 share you own 1 / 5.25B of the company. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What percent of a company are you buying when you purchase stock? | Your question has already been answered, you divide the amount of shares you own * 100% by the total amount of shares. However, I feel it is somewhat misleading to talk about owning a percentage of the company by owning shares. Strictly speaking, shares do not entitle you to a part of the company but instead give you a... |
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