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

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1500 questions
36
votes
9 answers

What does it mean for Bill Gates to have an income of $0 dollars? What word would have been more appropriate than "income" is?

What does it mean for Bill Gates to have an income of $0? I recently engaged in a friendly Twitter debate about limiting personal income. Someone told me that Bill Gates has an income of $0. You realize that most of the super-risk [sic] founders…
Shaun Luttin
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36
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11 answers

Bill payee can't find my payment and threatens debt recovery action

TL/DR Bill payee can't find my bank transfer and threatens debt recovery action. What to do? A family member is studying at a major UK university. Quarterly or so, the university raises tuition bills. Every time, bills are paid full and on time by…
Bennet
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4 answers

Someone is trying to sell me something online with Venmo. Is it a scam?

I wanted to buy a GPU online from someone who listed some a fairly affordable price. However, this person wanted to transact using Venmo or Cash App, not PayPal Goods and Services. PayPal G&S has the advantage of buyer protection, so if he ended up…
Fishy
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36
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8 answers

We're in an asset bubble currently, what can I do about it?

My opinion is that we are in an asset bubble: house and property prices are sky-rocketing, interest rates are low, and inflation rates are high. I'm aware of the futility of trying to time the top of the boom/bust cycle. Other than blind luck, I…
Anonymous
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7 answers

Is it acceptable to use a bank's "dispute a charge" feature if restaurant wouldn't give refund?

I ordered some food at a popular fast food chain, through drive through. When I arrived at my destination, I found my order was wrong, plus the food was very stale and cold. I paid for a rather extensive breakfast ($11) and I was instead given food…
Village
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36
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12 answers

Hedging vs just betting less

This is a question from a layperson about the fundamental concept of hedging, with regards to investing, gambling, and any situation in which hedging is used to manage risk. I do not understand why hedges are used as a risk management tool. Could…
David Kennell
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36
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7 answers

How does a bank lend your money while you have constant access to it?

How do banks / fintechs lend your money while you have constant access to it, ie. can withdraw at any moment? I assume there is some kind of liquidation pool, but how exactly is that managed with limited risk?
Anonona
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7 answers

Why do some small-time real-estate owners struggle while others thrive?

This is something about this field I'm trying to understand. Whenever I talk to a regular person who managed to save up and buy an apartment building or a duplex or something like that for rental income, they always say it's a lot of trouble and…
temporary_user_name
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36
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7 answers

Is it smarter financially to buy a starter home or go for the long-term goal?

My wife and I are first-time home buyers. We both have fairly stable jobs and have no trouble getting a mortgage on any price house in our town. We are trying to decide which is smarter financially: Buy a starter home well within our means, pay it…
Village
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36
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7 answers

If I have an accident, should I file a claim with my car insurance company?

If I am in an accident that causes no personal injury, but causes damage to both cars that requires new panels (and has a quotation of $3,000 to fix mine)... how do I decide whether to claim against my insurance? I've had some people say that I…
Peter K.
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36
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6 answers

Holding rent money for my friend which amounts to over $10k?

My close friend has just moved into an apartment with me and due to some circumstances he would like to pay me the rent money for a year upfront. The total amount will be about $11k total, and we as roommates pay our rent to the government (U.S.)…
Asleepace
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36
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5 answers

Are purchase orders obsolete, or do they have some benefit over credit cards?

I just learned of Purchase Orders, which sound like they are used for purchasing expensive things in B2B. For example, if you wanted to purchase a large factory machine for several $k: I have only ever really used a credit card (and checks and…
Lance Pollard
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35
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13 answers

Is a house an asset?

Intro: I'm 21 and I do not know anything about personal finance. I want to start learning because I strongly believe that this is a very important and necessary attribute to learn. I have read Robert Kiyosaki's book Rich Dad Poor Dad which I think…
Raül
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35
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4 answers

Can a merchant accept some Visa cards but not others?

I recently ate at a restaurant that accepts Visa but has a policy that specifically excludes accepting Costco Visa credit cards. I have never heard of such a thing. While the Costco Visa credit card does offer a higher cashback rate than most other…
jamesdlin
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5 answers

How to handle the Equifax Breach this tax season?

One of the most common forms of fraud is tax return fraud. Generally you don't find out until you go to file and someone has already been kind enough to file your tax return, AND take a payment for it. Considering I have investments spread across a…
user65616
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