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1500 questions
20
votes
9 answers
What precautions should I take when lending money to a friend?
I'm thinking of helping out a friend by lending him some money (~ $10k). I totally trust him, but I still have a feeling that I should have a contract or something similar.
Are there standard contracts out there for these kind of things? If not,…
znq
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20
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1 answer
Do I have a right to cancel a purchase of foreign currency in the UK?
A few days ago I ordered 100 Euros using a travel agents website, to be picked up in their store and paid for them in GBP by debit card. I noticed just after that they aren't open on Sundays, meaning I won't be able to collect them before my trip. I…
fluidj
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20
votes
4 answers
Should I tell my insurance company I have an unsecured loan for my new car?
Generally, I do all of my quotes online instead of dealing with an agent. They've always asked if the car is leased, financed, or owned. In my current situation I am technically financing the car, but the loan is unsecured. This means that the title…
Jeremy
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20
votes
6 answers
How to return a security deposit to a tenant
Very simply put: How should one return a security deposit to their tenant in such a way that there is proof I've fulfilled my responsibilities to do so?
It is Colorado in this case and I see no such laws governing the format of the deposit. What are…
maplemale
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20
votes
2 answers
15% tax on $7.5k earnings. Is that right?
This year is my first year in the USA. My sole earnings were an honorarium from a university for $7,500 -- reported on a 1099-MISC form in box 7.
For this, I was on-site for a few days and talked about my particular technical expertise with…
A-Foreign-Scientist-2018
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20
votes
2 answers
What incentives do banks have to gather up loans into pools (backed by Ginnie Mae)and selling them?
This is a two part question:
1) I understand that there are certain mortgage loans that when originated by banks can be gathered up into pools and then "sold" to investors, and that these pools are backed by Ginnie Mae, in the sense that, if the…
ricksanchez
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20
votes
1 answer
How do I know what and how much my debt is?
I had excellent credit, large amount of savings, and opened a wine bar. As money drained, and debts accrued the landlords got selfish and I didn't have the funds to fight it in court (at the time), so I tried to shoe-string it. Ended up homeless…
Mikey
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20
votes
5 answers
Is it possible to lock in a high interest rate in savings, when general interest rates are high?
I've heard anecdotes about high-interest savings accounts (4.5% around 2006, even 8% in the 80s), that were opened when interest rates (federal funds rate) were high. The implication seemed to be that for some of these accounts, if one were to hold…
Ken - Enough about Monica
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20
votes
4 answers
What's the average nest egg (savings) for someone age 26? Website for comparison?
How much money should a 26 year old have saved up? Is there somewhere that I can compare against online?
PHC1983
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20
votes
2 answers
What is a reverse mortgage?
What is a reverse mortgage? I hear these advertise often but don't understand how they are different from a regular mortgage! Can somebody explain please what they are and when they would be useful? Thank you!
unknown
19
votes
2 answers
How to access a really old, untouched bank savings account?
I was just going through old things and found a Wachovia account opened for me by my aunt - specifically, I found the checkbook and transaction record. The transaction book is dated April xx, 1998 and has one record in it: "Happy Birthday", $50…
Ricket
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19
votes
2 answers
Has any country exempted their citizens/residents from the US citizenship-based taxation?
This question is about personal finance as this directly applies to my situation as a US citizen, which I intend to keep for work purposes, and as a citizen of another country, which I am willing to switch if it is tax advantageous. See Why was this…
Franck Dernoncourt
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19
votes
2 answers
What's the difference between 'cleared' and 'reconciled' in my financial accounting software?
Been using GNUCash for the past four years, and I'm slowly learning the more advanced features over time. Until now I've never needed to bother with future dated transactions, but recent large unanticipated expenses in a short timespan are…
jldugger
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19
votes
5 answers
What are the most common reasons for purchasing Life Insurance?
I'm trying to understand the product and I only have the examples of one family member to go by. What you get from internet browsing is predominantly marketing copy from large companies, if exclusively that.
Why do people purchase Life Insurance?…
raldy
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19
votes
2 answers
Laid off. Had FSA overages that I wasn't aware of. Can they collect?
I was abruptly laid off, and I wasn't aware of the FSA overages until after my departure. I realize I'll sound like a weasel, but can they collect?
They paid out more than the annual limit and they have sent an email asking for the funds back.
user68552
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