4
votes
1answer
134 views

What do new Overdraft rules for U.S. banks mean for transactions, when they go into effect July 1, 2010?

The rules will affect ATM withdrawals and debit card transactions, and are meant to protect consumers with an opt-in option. What does this mean?
5
votes
1answer
297 views

How much tax can you save in a UK ISA?

How much tax can you save if you invest £5100 in a UK ISA?
1
vote
2answers
869 views

How does one find a good stock broker that accepts foreign credit cards or paypal?

Is there a good stock brokerage company that I can trade with, via international credit cards or paypal? I live in Israel. What I basically want from such a broker is: Reliability Ability to ...
21
votes
3answers
3k views

Why does demand for stock rise when a company appears to have high future value?

So a company decides to raise money by selling shares of its stock. The stock is offered at an initial price of their determination. The stock is then traded in a market where forces of supply and ...
28
votes
2answers
1k views

What percentage of my budget should the mortgage be?

What percentage of my budget should the mortgage be?
27
votes
10answers
24k views

Why do governments borrow money instead of printing it?

This question is raised in the movie Money as Debt (at time index 29:00). The answer that immediately pops to my head is "because printing money causes inflation". However, according to this movie, ...
3
votes
1answer
934 views

How will Ontario's HST apply to books / textbooks, which were PST exempt before?

Students (university/college) have been hit hard enough recently with tuition hikes. How will this latest cost increase affect the cost of education materials?
4
votes
1answer
295 views

Where can I find a list of common US income tax deductions?

Where can I find a list of common tax deductions in the US? I'd like to know so I can keep more receipts and pay less tax.
5
votes
1answer
612 views

Sole proprietorship or LLC?

At what point in the life of a small business would you choose to do a LLC over a sole proprietorship? What's the advantage, and what's the cost of doing an LLC?
10
votes
3answers
1k views

How to determine new, lower interest payments after a lump sum mortgage payment, i.e. new amortization schedule?

Here's a financial math problem: I have a mortgage at about $78,0000 with 5.5% interest and 56 of 360 monthly payments were made. I'm currently paying about $360/month in interest charges. If I pay ...
9
votes
2answers
4k views

TurboTax is telling me to open an IRA now, and get a $5K deduction this year, is this a smart thing to do?

I'm 21 years old, and 2009's total itemized deduction for me is $1,908. I'm going with the standard deduction, but next year seems like it has a lot of potential to save if I open up this IRA that ...
13
votes
1answer
469 views

If I were to get audited, what would I need?

I've been an independent contractor for about 2 months now. I'm saving receipts for all my business-related expenses, and I use Mint.com to track all my personal finances -- Everything business ...
10
votes
3answers
332 views

How should I make a budget?

How do you go about making a budget? Where do you start (ie: with income or expenses)? Related: Where can I find an example of a really basic family budget?
7
votes
1answer
321 views

What happens when you make extra payments but don't specify principal reduction?

Lets say your loan payment is $100 a month. What is the differences between: making a regular payment for $120 making a regular payment for $100 plus an additional principal reduction payment for $...
4
votes
3answers
3k views

What are some good iPad financial apps for budgeting / tracking spending? [closed]

I am looking into to buy an iPad and I would like to know what are the good apps for budgeting and tracking spending. iPhone integration would be a big plus!
2
votes
2answers
7k views

Can you recommend good Excel spreadsheet templates for tracking spending?

I did use Microsoft Money to track my spending couple of years ago, then I switched to paper and pen and then switch to online money sites such as Wesabe, but none of them really worked out. The ...
8
votes
3answers
264 views

Please explain: What exactly is a CDS or “Credit Default Swap”?

I hear a lot about CDSs (Credit Default Swap) and I not really know what they are. Can you please explain it to me? What are they good for?
5
votes
3answers
5k views

Travelled to New York State & bought something. Can I get sales tax refund back?

I drove to Buffalo, NY over the weekend with some friends, and I bought myself a shiny new Apple iPad. I had to pay New York State sales tax at the Apple Store, as well as declare my iPad purchase at ...
9
votes
1answer
630 views

Difference between Health Savings Account (HSA) & Flexible Spending Account (FSA)?

What is the practical difference between a Health Savings Account and a Flexible Spending Account? What are the pro's and con's of each, and are there situations where either is best?
3
votes
3answers
4k views

Are heating protection plans (furnace warranty) worth the money?

Is it worth the money to buy a heating protection plan to cover an existing or recently out of warranty furnace? My gas utility company which provides the hot water boiler keeps offering to cover the ...
7
votes
1answer
5k views

My daughter got married last year in late August, can I still claim her part year?

If my 21-yr-old daughter lived at home (and I provided more than half of her support) until her wedding in late August of last year, can't I still claim her as a dependent of some sort?
5
votes
5answers
116 views

Spring cleaning for your finances? Is there any activity that should be done annually, with respect to your money?

In order to maintain the health of your finances, do you do any particular activity on an annual basis that you would recommend that might benefit others? Say, a "spring cleaning" of some sort?
6
votes
2answers
770 views

Is there a return-on-investment vs risk graph anywhere?

Is there anywhere a graph of "return-on-investment" vs "risk" for various different investments? On this graph would appear several data points, like: "Short-term deposit in dollars", 1% return-on-...
8
votes
2answers
920 views

Working at same place 2 years & my colleagues got a salary increase but I didn't. Should I ask my boss why?

I have worked at a doctors practice for two years. Some of my collegues have made a year working in this practice, but they have increased their salary. I didn't get an increase when they did. What ...
5
votes
1answer
165 views

How much should I charge for shipping as a function of unit weight?

I am setting up an e-commerce site that sells workbooks. I would like to calculate an estimated shipping fee based on the total weight of the items purchased. The per-unit weights are as follows: ...
2
votes
2answers
86 views

Company Payment Card

What are the risks of having having a company payment card? Is there any reason to have a card if I can float my expenses until they're reimbursed?
8
votes
2answers
431 views

Married during the tax year, how does that work

I got married this last year in December. I had done my taxes as if I was not married and had no dependents, which was correct in January. My wife currently does not have a job. Should this effect ...
1
vote
1answer
110 views

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?
6
votes
2answers
774 views

What can I deduct while assisting in caring for elderly relatives that do not live with me?

I provide all transportation to medical appointments, do their shopping, drive them to church, do their foot care, provide some meals -weekly, assist with ecercising, house cleaning. I do not want ...
6
votes
4answers
790 views

How much money does Earth hour save?

Does the recent Earth-hour event staged over the week-end actually save money? When the event occurs there is a major drop in energy consumption at the start but isn't there also a spike when ...
6
votes
1answer
360 views

Just noticed “Minimum Payment Warning” on my credit card statement. Did a law change or something?

I saw a new disclaimer on my credit card statement this month that is prominently displayed on the first page to the effect of: Minimum Payment Warning: If you make only the minimum payment each ...
5
votes
1answer
171 views

Year end for ISAs, is it worth squeezing more in quickly?

I opened an ISA about a month back (only have £110 in it at the moment) Tax year ends on 5th April, I could afford to put £1000 in my ISA, I would be skint until the next payday at the end of April ...
2
votes
1answer
264 views

Why do wholesale clubs charge annual memberships?

Why do warehouse / wholesale retails like Costco and Sam's Club charge yearly fees? I personally think the wholesale club fees are worth it, but I wonder why they do it.
4
votes
2answers
343 views

What items are exempt from the VAT? [U.K.]

I'm thinking about visiting the UK and I'm wondering which things are affected by the VAT and which are not. Also as a non-UK resident is there a way to get a rebate/reimbursement on this tax?
8
votes
1answer
201 views

Why are index funds called index funds?

Why are index funds called index funds?
7
votes
3answers
759 views

What's the best short-term investment plan?

Say I have a small sum of money, which I have no use for for the following 6-12 months. I don't want to invest it in index funds, because these have a non-negligible risk of decreasing in this time ...
6
votes
3answers
659 views

Do real nappies (reusable / cloth diapers) really save money?

We would like to use "real nappies" (reusable diapers); both to minimise environmental impact, and to save a bit of money. According to some literature I've been given, using real nappies can save ...
4
votes
2answers
832 views

How do I best bill out an annualized salary monthly, as a Canadian contractor?

As a Canadian software contractor, what's the best or most accepted method if I've agreed to an annualized salary, to bill it out monthly considering holidays, February being a shorter month etc? Is ...
4
votes
2answers
338 views

Do companies that get taken-over have to honour the old gift card/certificate?

With reference to this question, can companies that get taken over set limitations on honouring gift cards issued prior to the take-over? Also if a company just changes it's name, can it set limits ...
4
votes
1answer
4k views

Do gift cards expire? Does a gift certificate's value depreciate? How long can I keep them for?

I recently found several gift certificates (yes, way back when) from stores like Restoration Hardware, Omer DeSerres (now Loomis) and Jacob. I live in Canada. Can I use these certificates today, ...
7
votes
1answer
198 views

Do Americans still need extra health care / medical insurance after reform to health care? [U.S.]

Does the passage of the recent bill in the US change the way Americans budget for health care? If so who benefits?
6
votes
2answers
231 views

Could my insurance company be giving my healthcare providers kickbacks?

This may seems like a far-fetched conspiracy theory, but this has happened to me twice now... Scenario goes like this: My insurance policy covers X but not Y (or X has a lower deductible than Y). I ...
11
votes
7answers
429 views

A loan or a self loan: Is there any reason I should ever take out a loan when I have that money in saving?

Is there any reason I should ever take out a loan when I have that money in saving? Example: I have 20k in a house fund, and I want to spend 8k to buy a car?
75
votes
22answers
14k views

Why would you ever turn down a raise in salary?

Related to a comment on this question: http://www.basicallymoney.com/questions/1256/is-it-true-that-income-tax-was-created-to-finance-troops-for-world-war-i Does it ever make financial sense to turn ...
6
votes
3answers
676 views

Is it true that Income Tax was created to finance troops for World War I?

I remember hearing that income tax was specifically created to finance the war effort during World War I. Is this true? If so was it originally intended to be a temporary measure?
16
votes
7answers
5k views

Is it wise to invest money in the stock market?

My uncle wants me to invest money in buying shares. I would like to ask these questions to my fellow users: Is it wise to invest money in the stock market? Is there any age limit to start into stock ...
2
votes
2answers
110 views

What other investing strategies exists apart from tracking an index?

I heard that the cheapest and best way to invest is to track an index - buy an index fund. This is good, because the costs are cheaper than other funds and it provides better returns than most ...
7
votes
4answers
2k views

Is it more cost effective to wash a car at home or take it to a car wash?

Now that spring is here this becomes an option. Is it more cost effective to wash a car at home (increasing water utility expense) or to pay to have it washed at a car wash? Also which is more ...
8
votes
3answers
662 views

What is the best option for an occasional driver in the USA?

I never had a car before, but I'm starting to feel the need of having one. Fortunately, I can bike to work, and would only use the car on weekends (and very occasionally on weekdays). Additionally, I'...
2
votes
1answer
1k views

How does Ontario's new HST affect a condominium purchase?

I'm wondering what the rules are regarding HST and a purchase of a condominium. When buying a new construction condominium, would I need to pay HST? What about for existing (re-sale) condo's? I'...

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