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Questions tagged [savings]

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

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votes
1answer
216 views

What are my options other than stock piling money in a savings account?

As a college student, what are my options for investments to keep up with inflation? Savings accounts are worthless as I don't have enough capital to make any benefit. I am sitting at around $11,000 ...
0
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2answers
70 views

What is a term to describe when a percentage of the amount of money paid is taken away from the goods given?

I have a system, where a 2% "charge" (for want of a better term) applies to all transactions. Users can pay $100, and then they will top up for 98% of that amount (top up for $98). I was thinking of ...
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1answer
58 views

Interest on American dollars in Australian bank account

I have American dollars in an Australian bank account, which doesn't accrue any interest. Is there a way of getting interest on it?
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1answer
63 views

Where can I find information about the relationship between the owner of a company and its business administrator?

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do ...
0
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1answer
207 views

How long would it take someone born in 1940 to save 25 times their annual salary?

Assume the person starts working at 25 and earns the average salary for whatever year it is at the time (changing every year). Assume that they save 20% of every pay cheque and invest it in an account ...
0
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1answer
51 views

How do I calculate an average monthly income, with accurate yields, from dividend stocks paid quarterly and monthly?

I have a column that has evolved over months and I have another spreadsheet with my positions (my stocks, # of stocks, dividends payout and dividend yield). Those won't move. However, some of my ...
0
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2answers
134 views

Help with a homework question calculating interest

Question : Imagine that you deposit $6,000 a year, starting one year from today, for four years into a savings account paying 6% per annum. (That is one deposit of $6,000 per year.) How much money ...
0
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1answer
60 views

Do I have to pay taxes on external savings?

I am thinking on moving to Canada to work, save for retirement, and move back to Portugal due to the lower cost of living to live my retirement. I will contribute to the Canada Pension Plan and also ...
0
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1answer
64 views

Tax system on savings account in India

I would like to know if the money in the bank is taxable. Let's say I have deposited some x amount in my savings account and the yearly interest is y amount. I know that this y amount is taxable, but ...
0
votes
1answer
64 views

Should I pay and refinance or continue LPMI?

Details: Origin loan: $152,000 Original downpayment: $8000 Remaining loan: $144,000 (= approximate current pay-off quote) Currently value of house: $160,000 (assume value hasn't changed since I ...
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votes
2answers
265 views

How to get the best out of cash savings without the money sitting idle?

Lets say I have personal savings of £20,000 in cash. How could I possibly get the most out of these savings without just letting it sit there idle? What are the options out there to make the most out ...
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2answers
73 views

Need business checking account with limited access [closed]

I'm looking for suggestions. I need a business checking and savings account, where I can setup full access for myself (withdrawals, deposits, view account number and routing information, etc...). ...
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2answers
224 views

Does investing monthly into a Fund mean that I buy unit fractions?

A fund's units are sold for 150$. My platform allows me to start investing into that fund on a monthly basis for 100$, and I pay 25$/month in the next couple of years. Does that mean I buy a new ...
0
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2answers
600 views

Getting credit card in the UK without the permanent address

I've been in the UK since May, but I've been subletting apartments. I have a permanent job and I'm able to save 70% of my salary. I have the bank account in Lloyds and they told me that I'm not ...
0
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1answer
127 views

Should I pay off my mortgage? [duplicate]

I have €77,000 in my bank account. My mortgage has €75,000 left on it (without interest) and a term of 14 years remaining. The current interest rate is 4%, but of course this can change. Should I pay ...
0
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1answer
37 views

Best approach for collect money vs resolve some points

First of all Sorry about my English. Second I have this question: I don't know how to distribute money between goals that must be achieved(bought) at the certain time not now. List of goals(it's ...
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1answer
301 views

What's the difference between Digit and Acorns?

Digit and Acorns both seem to do similar services, what exactly are the differences between them?
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1answer
155 views

Saving small money monthly [closed]

I am planning for saving some excess funds. Option 1: Open recurring deposit for 10,000 for a period of 6 months. After 6 months I will get a total of 61000 including interest of 1000. Option 2: ...
0
votes
1answer
315 views

How can I get more interest than the 2.8% my bank is offering me on my $60,000 AUD? [closed]

I have recently been given a $60,000 AUD for the deposit on a house. I have since discovered that I am not earning enough to get a good enough mortgate. I think if I wait a couple of years I'll be ...
0
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1answer
58 views

Money Saved on finance charges

I have recently paid off a loan in full which I started keeping track of in a double-entry personal accounting software. Because I was paying before I started tracking I entered the current loan ...
0
votes
1answer
90 views

Will interest rates on bank deposits ever fall close to 0 percent in India? [closed]

I wanted to know if interest rates will ever fall to close to 0 percent in India. + I would like to know that as close to 0 interest rates might affect the income earned through debt instruments at ...
0
votes
1answer
201 views

should I save more money to purchase a Used car or borrow from my office?

please suggest me should a save more money to purchase a used car or borrow money from my office where I work. I have half of the amount that costs the car I want to buy. kindly suggest me. PS my ...
0
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3answers
146 views

Should I use my non-tax advantaged investment account to pay off debt?

Hello Personal Finance! So about 8 years ago, I got into a bad car accident which was not my fault, and which I sued the driver because they tried to drive away afterwards. I got a large settlement ...
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1answer
852 views

How much should be our expense and savings ratio? [closed]

What is the right ratio of expense to savings ? is 80-20 alright ? Although we follow high standard living, here in Bharat(India) we can save upto 50%.
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2answers
275 views

What is the best way to increase the earned money staying in US for an NRI?

Im living in US from last 1 year due to work assignment and will be here for another 3-4 years. What is the best way to earn interest on earned money? Shall I send all earned money to India account ...
0
votes
1answer
157 views

Annuities of a non-annual time span

I am having trouble answering this question with any confidence and have no way to check my answer. I was hoping for a walk-through? I plan to save $100 at the START of each month for the next two ...
0
votes
1answer
5k views

Saving Money in Fixed Deposit Account VS in Saving Account (with various interest rates)

Which might be a better choice? Starting Money : 10K (1) Fixed Deposit Account with the following interest rates 1 month : 0.5% 2 month : 0.6% 3 month : 0.7% ... 10 month : 1....
0
votes
1answer
73 views

How do interest calculations differ between loans and savings? [closed]

At the bank or financial institute how are the interest calculation is different from loans and savings? Are they calculated the same way?
0
votes
0answers
88 views

I am being offered whole life insurance with a savings account. Should I take it?

I am being offered a savings account with a Whole life Insurance policy. I believe it is 100,000 policy for $30 a month. However, half of this goes to a savings account with a 4% "compound interest."...
0
votes
0answers
196 views

Early retirement options

I plan to retire early (around age 45). Living in Europe. My question relates to what order I should be saving / investing in now and what order to use that money when I get to my early retirement age....
0
votes
1answer
128 views

What investment is best? [closed]

I recently started a savings account that gets me .015% and a CD of .025%. I want to increase my investments as fast as I can. I don't want to go into stocks; I would prefer bonds and notes. What ...
0
votes
1answer
618 views

Interest Rate vs. Annual Percentage Yield (APY) [duplicate]

I'm curious as to what the difference between the Interest Rate and Annual Percentage Yield is. For example: This Bank I was looking at offers 0.45% interest rate on savings account balances over $...
0
votes
1answer
98 views

Looking for advice on my first investment [duplicate]

I am 32 years old and single, looking for some advice on what I can do with about $10k for my first investment. I currently just have it sitting in the bank and would prefer to use some type of ...
-1
votes
5answers
985 views

What's the lowest risk highest reward I can invest in for 5 years?

Good day; Canadian here, 23. I'm looking to place money (at a rate of 100$-200$ per month) into savings, for 5 years (locked or not). I don't have a "specific" plan in 5 years. I just need to have ...
-1
votes
1answer
2k views

Want to buy a car but have not enough money [closed]

I'm still at a very early stage of my professional career and my salary is still very low. I work in the IT field. I have a dream of buying my own car. The current price of my desired car is 200 times ...
-1
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4answers
2k views

Is compounding interest on investments a myth?

I continually see examples encouraging young people to start investing for retirement with graphic examples using compounding interest to show that starting early pays off big. I've always bought into ...
-2
votes
1answer
240 views

From ACH direct debit to Prepaid card?

I am searching for solution how to be direct debited (ACH) to personal or business bank account where those funds would arrive (deposit) to prepaid card? The solution must meet all three of the ...
-2
votes
2answers
267 views

Is this incremental Saving Formula Correct?

I'm planning to save some money. I earn in Pakistani Rupees. At the time of posting 1Usd = Rs 123.12. I came up with an idea to save a certain amount each month and add additional 10% of the saved ...
-2
votes
1answer
175 views

Just getting started and not sure where to go from here

TLDR; at bottom Hello and thank you ahead of time for any response. I'm 18 and trying to figure out where to go next. I already have an emergency fund (of sorts), no debt, and a few different ...
-4
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3answers
378 views

Do I need to invest to become millionaire?

Refering to this question: Can saving investing 15% of your incoming start 25 likely make you a millionaire In France the highest rate I can find is about 2%, with special conditions, while the post ...