Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

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1500 questions
50
votes
9 answers

How do credit card companies make profit?

How do credit card companies make profit by giving us credit for 40-50 days (India). I purchase something on my credit card and I pay it to the credit card company after some days. How are they going to make profit with this where I'm not paying any…
JayaprakashReddy
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5 answers

Potential scammer pushing me to click a link and threatens to send the police

I was contacted by someone wanting to buy a bird cage I was selling on Facebook market place. He said he couldn't collect as he was at work he told me he would send a cash envelope via dpd and that I would have to pay the insurance. I would be fully…
Kerry Allen
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50
votes
2 answers

What is the difference between shares, stock and stakes?

What is the difference between shares, stock and stakes? For a layman, many times it seems they are used almost interchangeably.
Rajorshi Koyal
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50
votes
11 answers

In the US, is it normal to not include an electronic way to pay rent?

A property manager requires rent to be paid using check. Is it normal that rent cannot be paid using electronic methods such as a credit/debit card, or a bank transfer, or Paypal, or anything electronic? Can checks be obtained without going into a…
det
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50
votes
5 answers

Lost $10K to scammers, found out their home address and want to take action

Lost $10K to scammers. I’ve been able to locate them. I know their home phone, their bank details, who they are renting from, their street address. I want to go there and take action. Does this information help me in any way? Can I use this…
Bob Jane
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50
votes
15 answers

Is there any reason to not buy if mortgage is comparable to rent?

I'm curious: Say if you could buy a property or choose to rent and the mortgage per month on the property is similar to (or even lower) than the rent in your area, is there any reason to not buy? Assuming you are not looking to move and stay in the…
Lightsout
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50
votes
11 answers

Is it principled to tip less if a pricey restaurant doesn't accept Visa or Mastercard?

Last month, I spent $230 CAD at a restaurant. Yesterday I spent $150 CAD at another restaurant. Both high-priced restaurants in Toronto accept just cash or debit, no credit. I'm using final prices, after tax and gratuity. I'm just talking about…
user44213
50
votes
8 answers

How were US credit cards verified in-store in the 1980s?

Back in the 1980's, many major retailers in the United States would accept credit cards using what was sometimes called a "knucklebuster" - a hand-operated device that would take a carbon-copy impression of the customer's credit card and produce a…
Robert Columbia
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50
votes
12 answers

My mother co-signed for my car. Can she take it away from me if I am the one making car payments?

My credit is in the low 500s and I was unable to get a car loan. My mom cosigned for me and I've now had a beautiful car for three months. I've been making on-time payments, the registration is in my name, and the insurance is in my name as well.…
Megan M
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50
votes
8 answers

Paying off debt and living within means vs. long term planning

My husband and I are divided as to the best way to handle our current financial situation. First, a little background. We are in our high 20’s, have been married for six years and have three kids. We started our marriage with ~$25K in savings and…
anon
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49
votes
7 answers

Why are low risk investments so strongly advised for first-time investors?

Inspired by the flurry of questions on this site about the returns available from investing in equities over the long term, I decided to approach my UK bank about setting up a small investment fund, built up by a modest monthly contribution of…
Bob Tway
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49
votes
8 answers

Tax on gambling winnings with social security number

My roommate told me that he met someone at an MGM casino who won $100,000. That person told my roommate that he does not have a social security number to turn his winnings into cash. He made a deal with my roommate to share the winnings 80-20. My…
jakson
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49
votes
7 answers

I'm saving money too fast. What should I do?

[Apologies if this sounds (and is) like a first world problem] I get a very generous salary and I am not a spender. I am able to save $2000-$2500 every month. I've invested part of my money in some stocks but I have the feeling that I saving faster…
Rajesh K
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49
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5 answers

Why do banks seem to be indifferent about identity theft?

Several years ago, I was in a terrible relationship in which my girlfriend fraudulently opened a credit card in my name. I forget the specifics, but she ended up transferring the full cash advance on the card into one of her accounts at another…
Curious Layman
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49
votes
11 answers

Is purchasing foreign currency before going abroad a losing proposition?

A recent question illustrated one of the potential pitfalls of pre-purchasing foreign currency. In short, the poster was unable to pick up currency they had ordered, and a currency purchase is not a refundable transaction as it is a fluctuating…
bertieb
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