Most Popular
1500 questions
69
votes
2 answers
Our friends and we often barter babysitting time with each other. Do we owe taxes?
Our friends and we have an informal agreement that we will babysit eachother's kids when necessary. We don't pay any cash to each other for the service, but we agree to "repay" by providing the same favor.
An accountant friend told me just recently…
CodyBugstein
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69
votes
11 answers
Why does it seem the best way to make a living is to invest in real estate?
I can't get past the idea that, if you work well in your job, you may get laid off or fired, and companies do not like to hire you when you get past the age 45 or 50. But if you invest in some houses or rental properties or fixer-upper, a lot of…
nonopolarity
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69
votes
11 answers
How can I prepare for my US student debt?
I'm a student at Drexel University. Drexel is a notoriously expensive school, and I pay roughly $35,000/yr in tuition, after awards. What's more, it is a five-year school. Currently, I'm in my fourth year. Throughout the year, I work full time six…
CretaZigman
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68
votes
11 answers
Rent cheque was stolen from landlord - am I obligated to pay again?
I live in Quebec, and my rent cheque was stolen from my landlord as they travelled to the bank to deposit it. They've asked me to stop payment on the cheque, and provide them with a new one. The stolen cheque was not cashed, but I stopped payment,…
lrey
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68
votes
7 answers
1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?
I have a new Toyota Prius (2017 model), bought between 12-13 months ago.
The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, but the car won’t start. On top of that, the car…
Maurizio Carboni
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68
votes
9 answers
Why do financial institutions charge so much to convert currency?
With all the modern technology that we have, I am astonished that financial institutions charge such exorbitant prices for currency conversions. My bank, Fifth Third, charges a 3% conversion fee, while Paypal charges about 4%. I know that currency…
Chris Cirefice
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68
votes
3 answers
How did this day trader lose so much?
I recently read this article about a day trader that lost $100,000:
A trader started a GoFundMe page to pay back $100,000 to E-Trade after a disastrous short
Please explain this, because I can not understand how this "trader" lost so much money. …
Marie Kiev
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68
votes
13 answers
Mother abusing my finances
I'm in a bit of a predicament so I want to give some background.
I'm a 17-year-old who has a bank account with my mother as an account holder given that as a minor I cannot legally enter into an agreement with my bank and I need a guarantor. It's…
Anonymous Rabbit
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67
votes
7 answers
Is there a "catch" on my "increased credit limit"?
Today I received a letter from the bank that issued my credit card. Basically it says that, since I'm "one of their best customers" my credit (card) limit has been increased.
This is the second time that they have done this. The first time I didn't…
Diego
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67
votes
3 answers
Saving for retirement: How much is enough?
How to save
I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in the following order:
Roth 401(k) - Just enough…
Stainsor
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67
votes
11 answers
Should I open a credit card when I turn 18 just to start a credit score?
I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then immediately paying it off. Assuming I only use it to…
Jon
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67
votes
14 answers
What are some effective ways to help someone financially?
After managing my income and investments quite well over the last few years, I’m reaching the point of having more income than my personal needs require, and (after already giving thousands to charity each year, a topic for a separate discussion) I…
Simon E.
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67
votes
6 answers
Stranger sent me $12,100
I have a small landscaping business and I advertised through Facebook. Some guy reached out to me via text message, asking me to do a job for him. He asked for a quote for installing sod in his front yard and I replied with $3,175. He agreed to…
Sergio Fuentes
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66
votes
10 answers
What would prevent me from taking advantage of scammers?
Inspired by 20% monthly mining vs 5% monthly trading
What would prevent me from investing $1,000 for a month, pulling out, investing with a different scammer, rinse & repeat?
This question is not specific to the inspiration question but…
MonkeyZeus
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66
votes
17 answers
How to share income after marriage and kids?
My girlfriend and I are thinking about marriage and having children and I have spent the last days trying to figure out concepts how to handle finances from that point forward. I believe that this is relevant to most people in such a situation not…
Chris
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