Questions tagged [savings]

a generic tag related to accumulating cash or bank deposit savings.

Filter by
Sorted by
Tagged with
1
vote
6answers
108 views

Should I reduce my 401k contribution to pay of car/house payments earlier?

It’s a little more complicated than the question (at least I think so). Basic Info: I’m 36 I have about $398K in 401k+Roth savings, 15% contribution per paycheck I have a mortgage worth $175K I have ...
3
votes
0answers
24 views

Are one-person company savings taxable in the Netherlands?

In the Netherlands, personal wealth such as bank and savings accounts over a certain amount is subject to taxes (box 3). If an entrepreneur (eenmanzaak, with or without officialy qualifying as ...
0
votes
1answer
53 views

Need Advice on what to invest in? [duplicate]

If I have some money saved up, in our current economy what would be the best way to invest lets say... $1000-$3000 dollars? Or would it be best to just save this money? Any and all advice is welcomed. ...
0
votes
1answer
171 views

How to save money while protecting it from inflation for a home?

Last time I heard from my friend that M1 money supply year increase in my country is about 35% and economy is frozen (I don't known is it true, but let assume that it is true in some country X). If I ...
2
votes
0answers
61 views

Can I use my personal savings to pay the limited company of which I am the director?

I'm an IT contractor (UK). I work and invoice through a limited company. When the pandemic began I was on a voluntary break between contracts. Obviously the market went very quiet. I decided to ...
4
votes
2answers
149 views

what percent of my investments can I take out annually if I want it to still grow after beating inflation and taxes annually?

I'm interested in learning how much money one might have to save and invest if they are aiming to live purely off of the capital gains from their investments while still allowing their money to grow ...
3
votes
1answer
160 views

How do I prepare for a potential furlough on my salary?

Today I heard a rumor in the office that we might be seeing a salary furlough coming within the next few months. Normally I don't pay much attention to the rumor mill, but this rumor has some ...
0
votes
0answers
27 views

What is my best investment option as a Canadian citizen who is working temporarily in the US?

I am a Canadian citizen who just moved to the US and am making a relatively good money. My employer provides a 401k with a matching option. Most likely I will be working here temporarily for 3-5 years....
0
votes
1answer
144 views

How can I prevent my brother from forcing the sales of a home inherited from our father? [closed]

I moved back to my parents home to take care of my father until he died. I decided to stay here, but my parents were the victims of con artists and lost everything they had, Somehow a mortgage was put ...
3
votes
1answer
314 views

How to save as much money as possible from my salary? [duplicate]

I have 10 months of work, which's my first work experience, and during this period I haven't saved anything in my bank account. I spend all of my salary on rent, which represents 32% of it and the ...
0
votes
1answer
93 views

Is it possible to use a international broker account as a saving account?

Say that I'm a citizen of country A, I want to save all my personal savings (obtained in A legally) in another country B (I don't care about the currency, as long as it's relatively stable), and I ...
3
votes
3answers
207 views

What is a good starting point for a new investor?

Firstly to clarify, I am not looking for financial advice, I am trying to find out where is a reasonable starting point for someone who has no experience, some cash in an ISA and is risk averse. I've ...
0
votes
0answers
33 views

How do I open an RESP account where I am both the subscriber and the beneficiary?

I am located in Canada and am trying to open an RESP account where I am both the subscriber and the beneficiary. The government of Canada website says I can open an RESP for myself here. I’ve called ...
2
votes
1answer
184 views

Constructive and relatively safe investment options

I'm 24 years old, single, a grad student, and have some personal savings. Saving money is in my character, and for the last 5 years, I've been saving 1/8th of my monthly income, on average. In the ...
1
vote
3answers
164 views

401(k) which is better, more traditional or less ROTH

My company matches my 401(k) contributions, 4% to my 5%, so I'm contributing at least 5%. So I ran some numbers. If I switch from traditional contributions of 5% to ROTH contributions of 5%, my take-...
4
votes
1answer
162 views

What are my options for storing a large amount of money for less than one year? [duplicate]

We've just sold our house. We had been planning on buying another immediately, but our purchase fell through and we have now moved into a rental. Consequently, we have >£100k of cash on hand and ...
3
votes
1answer
86 views

Cash ISA restrictions in the UK

I'm trying to understand the restrictions on putting money into cash ISAs in the UK. Currently, the government homepage says "Every tax year you can put money into one of each kind of ISA. The ...
1
vote
1answer
139 views

How to use savings to buy security

I am a 28 year old single male and I have about 30k USD in my retirement account and 100k USD in my savings and checking accounts. I'm on track to save another 30-40k through the rest of the year as a ...
19
votes
7answers
5k views

Did I save enough for my age? Am I falling behind and should be saving more or take some investment risks to earn more?

I am a 28 years old male, living in the US. Currently working full time with the salary of $84K per year. I also have a dependent wife(same age as mine), who is currently studying in a uni, graduating ...
1
vote
3answers
296 views

How should i invest $70k - buy a house or other?

I have been saving for a home but TBC on if I will buy one so wanted to ask for advice on what other ideas there may be. I have $20k in cash savings and $50k in stocks. I have 401k currently at $55k I ...
0
votes
1answer
53 views

Invest in both PPF and VPF

Is one allowed to invest in both VPF (Voluntary Provident Fund) and PPF (Public Provident Fund) in the same financial year and is there a limit on the same?
4
votes
5answers
1k views

For Every $100 Saved and Properly Invested, You Make X Per Month

I remember hearing a figure somewhere that went something like this. . . "For every $100 bill you save and properly invest, you make X cents per month for the rest of your life. The trick is, ...
3
votes
1answer
67 views

Report interest to HMRC - less than personal savings allowance

[UK] Do I need to report to HMRC if I earn less than £1,000 (personal savings allowance (PSA) basic rate taxpayer) in interest? I also have CGT of less than £12,000.
3
votes
1answer
215 views

How can I make my 100K in savings safe and possibly a bit more profitable?

Situation sketch: I'm nearly 30 years old, single, still living with my parents in Belgium and disabled (autism in case it's relevant). I have a job where I earn about 1750 EUR after taxes monthly. I ...
5
votes
3answers
2k views

Inflation and the current value of my dollar

I am trying to figure out the value of my $100 with a hypothetical 2% constant inflation rate after 30 years. Here is the scenario: suppose I have $100 laying under my bed and the hypothetical ...
0
votes
0answers
29 views

Difference Between Opting In and Out of Courtesy Overdrafts

Let's say you had $50 as a balance in your savings account. You go out and buy something that costs $250. So, your balance is now 50 - 250 = - 200 dollars. What is the difference between Opting In ...
2
votes
0answers
30 views

Business banking insurance above FSCS £85,000 [closed]

In the UK, the Financial Services Compensation Scheme (FSCS) provides insurance for bank deposits up to £85,000. Is there an insurance (or financial product) that provides coverage above this ...
2
votes
1answer
193 views

How much should we have/save before having a child? Baby planning a couple years out [closed]

Edit: Additional helpful information. Location: USA: Oregon Lifestyle: Middle-class and content that way. I have biologist job, so I'll never be 'rich' and "millions" is certainly an exaggeration. ...
2
votes
1answer
62 views

Interest rate difference - savings account in a foreign currency

I live in a EU country where I have a currency account in CHF with a local bank. The interest rate of this account is 0.01%, whereas the interest rate in Switzerland is currently at -0.75%. Doesn't ...
0
votes
2answers
74 views

Tips on frugal approaches to donating to charities for averagely well-off

The title says it all really, but to get the discussion going let's imagine the following simplified reality: Suppose John is 25 years old, lives in the UK, has a very secure job with a take-home ...
1
vote
2answers
162 views

Why can one pay with ACH but not with checks from a savings account?

I have a payment I have to make four times a year. (well within Regulation D limits) The payee only accepts checks, and they sit on the checks for a random amount of time between 1 and 6 weeks before ...
5
votes
4answers
421 views

Doesn't the existence of FDIC incentivize savers to put their savings in the most risky bank?

The riskier something is, the more interest/coupon would be demanded by the lender. In the case of choosing where to put my savings, wouldn't the existence of FDIC incentivize searching for the bank ...
1
vote
2answers
343 views

Shouid I throw away my inkjet printer when its ink runs out & buy another?

This is not the usual question that I see here, but What topics can I ask about here? says: Personal Finance and Money Stack Exchange is for people who want to be financially literate, find ways to ...
8
votes
2answers
2k views

Deciding on a correct down payment for a house

I am in the process of making an offer for a house. Wife and I have about 135K saved, with steady jobs, both happen to be an 'essential business' as required for this period during the corona virus. ...
1
vote
0answers
102 views

Saving for a house, is holding money in the bank account currently wise?

I was currently saving to buy a new house with as lowest mortgage as possible (have currently money in the normal bank account without any interest rates) and planning to make a buy around the middle ...
2
votes
3answers
359 views

My retirement savings are waning due coronovirus crisis. What should I do?

My AFORE already lost a chunk of money in my retirement savings, i'm not sure what to do, i'm afraid if leave the rest of my money i will lose even more and it's gonna take a while to recover those ...
0
votes
2answers
257 views

Putting away 20% down payment money next 3 years to purchase home

We are considering buying a house in next 3 to 4 years. I am putting away my wife's salary into the savings for next 3 years until we come up with 30% money in the bank to take care of down payment, ...
0
votes
2answers
140 views

Opening monthly savers in different banks

I recently had a monthly saver with Lloyd Banks that is coming to an end. I want to continue saving however you can't have another monthly saver with the bank. I found that you can open accounts with ...
-1
votes
3answers
353 views

How much money does one need to afford to stop working for the rest of life? [closed]

Let's suppose you are in your 20s and want to fully devote your life to something you are highly passionate about, but there's a problem: you are unsure whether that activity will bring you any ...
3
votes
6answers
466 views

Overpay student loan or mortgage first?

I am aged 23 and make £48000 a year. I have 2 sources of debt at the moment, my student loan and a mortgage I have just entered. Student Loan Details: Amount: £42775.54 Interest Rate: 5.4% Monthly ...
3
votes
2answers
205 views

Feasibility of buying first house at 23 when I may leave the country in a few years to work/travel (UK)

I am 22 years old and in my final year of study towards an Engineering degree, with a graduate job secured for next year with a starting salary of £25,000. I currently have ~£47,000 in savings, ...
1
vote
3answers
402 views

What to do with spare cash, in the short term?

I live & work in the UK. Having pretty much exhausted all of the avenues I can find for saving (none of which have great returns anyway at the moment, obviously), I have recently started looking ...
3
votes
2answers
248 views

Does returning small bank verification deposits count towards the limit of 6 monthly “convenient” withdrawals on a savings account?

Does returning small bank verification deposits count towards the limit of 6 monthly "convenient" withdrawals on a savings account? Example:
2
votes
3answers
312 views

How to invest monthly savings for the long term?

Personal info I'm a single man in my mid thirties living in Spain. In 2019 I saved around 900€ per month on average after taxes. Most of that went to pay some one-time taxes and the rest to an ...
19
votes
9answers
7k views

Best ways to invest for a planned house purchase in 1 year?

I've just sold my house after relocating and got £45,000. I am now looking for a house to buy. In the area where I live now houses are around £500,000, so I will need at least £50,000 for the deposit, ...
1
vote
4answers
699 views

How risky is it financially to emigrate to a different country?

My situation: I am 31 years old. I live in the UK and have been a software developer for 5 years (but only 1 year in a really challenging, full stack position). I own a house. I have a fair amount of ...
1
vote
2answers
118 views

To opt for interest only home loan and save for next property down payment or keep paying P&I to reduce debt AND borrow more for next property

I currently own an investment property which I bought to live in (lived in for couple of years) and now has rented out as I moved (renting) in a better area for kids school. I am comfortably managing ...
2
votes
1answer
403 views

Should I save up my credit card points?

I earn points on my credit card and can redeem them at one cent per point, so if I have 10,000 points, I can deduct $100 from my bill. Is there any advantage to saving my points and spending my ...
7
votes
3answers
2k views

How to calculate savings account interest if you deposit and withdraw irregularly?

It's easy to calculate interest on a fixed principal. If you have for example $1000 deposit on your savings account and the rate is 0.25% compounded every whatsoever and you want to know how much is ...
0
votes
1answer
277 views

Lost $100k (paper) money on property subdivision project. What should be my next step?

I had the misfortune of working with a shady project manager for my first property subdivision project (1 property into 3). The development contract with him was for him to organise and supervise the ...

1
2 3 4 5
14