Questions tagged [savings]

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

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2answers
249 views

Healthy money saving tips for a young person [closed]

I'm 19 and I always spend my money on stuff I don't need and I'm trying to save enough money to build a tiny house in the next two years. Any advice on how to save up about $10,000 and stay ...
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1answer
256 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 ...
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2answers
80 views

Prolonged low base rate and personal savings

The Fed recently has prolonged its low base rate and is even considering lowering it further. I am an EU resident, and our base rate is even lower - it has been 0% for several months and it seems that ...
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2answers
211 views

If my employer has a retirement program that is *not* a 401(k), should I/can I invest in one of my own?

My employer does not use the common 401(k) retirement program - they are a state employer and use a different but similar State retirement program, along with a deferred compensation program that uses ...
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1answer
233 views

Saving when saving is really hard

I read the article of saving, and i like the answer but it miss some points.e.g if i earn 1700 and have a baby on way. I am still living with my in laws as i am new in this country. So in my estimate, ...
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5answers
429 views

How Should I Start a Savings?

I'm 22 and looking to start saving, and having my money work for me. I've got a few options I'm aware of right now: a) Going in with my bank's Mutual Fund plans, b) going safe and using a TFSA-GIC ...
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2answers
2k views

Where to park money low-risk on interactivebrokers account?

My experience with the stock market is little but I try to minimize fees. So I have a interactivebrokers account with the minimum balance of 10,000 USD made in AUD equivalent and started to make at ...
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1answer
714 views

How to recover money from old closed/dormant bank accounts in the U.S.?

Can anyone answer how to recover cash from (old) closed bank accounts from banks in usa?
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1answer
169 views

What would you say is the ideal percent of money per check should go into your savings account? [closed]

I would typically for me I'd say 12 - 20%. That way even if its a small check due to hours I'll still be able have some cash in hand.
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3answers
299 views

What to do with extra money when company doesn't offer 401k

I am looking for advice on what to do with some extra money I have. Currently, I have about $23k in my savings account, gradually increasing. I am (currently) employed, making good salary ($70k/yr), ...
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1answer
161 views

Possible pro-rated division of asset strategies without a prenup?

Example: I have $100,000 in the bank. I get married. We start a joint account from scratch. All future salaries and bills from both of us come and go from here. Is there any way to keep the $100,00 ...
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1answer
178 views

Should I make a loan or withdraw all my savings to buy an asset?

Lately, this is a question I've been asking myself, and I don't know which would be best, both on short term and long term. Let's suppose I have around 20,000 to 25,000€ in my savings account (which ...
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2answers
109 views

Should I switch from my 403b to an IRA

Would it would be wise to stop contributing to my current 403b retirement fund and switch to an IRA? Current Situation: 403b has no employer match . 403b is currently with Fidelity. I am young and a ...
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1answer
1k views

Can I predict if it is better to save money in USD or local currency? [closed]

I live in Egypt where the economy isn't that good. This table shows you the price of one USD in Egyptian pounds (EGP) till 2010. After 2010, The value of one USD was increasing. In 2015, 1 USD = 8 ...
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3answers
488 views

What type of an account to store emergency fund? [duplicate]

I'm working on building up my emergency fund. I put the money into an Ally online savings account yielding 1% interest. Would it be wise to put the money somewhere else that gives a higher rate of ...
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2answers
258 views

Where should a young student put their money?

I'm a young student with no student debt (my tuition is paid for, I've long since saved up enough.) I'm looking into my future and looking at investing in index funds or other sorts while I still live ...
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1answer
57 views

Which option to invest savings on home ownership? [closed]

I have savings of ksh 1m to invest in a residential plot(1/8th of an acre) - not built - in the suburbs of Nairobi city - say 30km from the city (Kitegela). the plots cost from 2m-3m, is this a good ...
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1answer
39 views

How to calculate equivalent interest rate of gains with monthly contributions?

I started the year with a known amount of funds in my account and I make regular (assume equal) monthly payments into the account. I know how much my gain/interest for the year is. I believe the ...
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votes
1answer
119 views

Paying off credit card from savings or keep and contine with current credit balance [duplicate]

I'm having two credit cards with only 10% of worth credit limit available (Nearly full). I can pay off both cards with my savings and my savings would be zero or nearly zero. I'm wondering whats the ...
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1answer
112 views

What are some options to store money abroad in a safe and preferably cheap way?

Assume the situation in which you live in a country that shows tell tale signs that its moving to a hyperinflation. People's money will become useless. You have the option to move some of it in other ...
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2answers
268 views

What should be done when my cash reserves are high?

When I have plenty of money in hand available, which is the correct choice? is it better to pursue new investments? To do things that were not done in previous days? Donate to charity? Upgrade my ...
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1answer
142 views

Childhood savings account closed years ago due to parents negligence. Can I reclaim it? [duplicate]

Years ago, my parents received notice that my savings account was being closed. I was too young to do anything myself, and I guess my parents too lazy. There was only about $130 dollars in the account....
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1answer
232 views

Saving U.S. Dollars or Mexican Peso - Mexican Citizen

I have the habit of save money, I would like to invest that savings, but I live in Mexico, do you recommend me save U.S. Dollars or Mexican Pesos? You probably hear about the Mexican Peso crisis.
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1answer
3k views

Do I need to pay tax on my savings in india?

I am new to the world of finance and taxation. I am aware that income earned through interests on savings is taxable in India, if it exceeds Rs 10000. But is the money saved taxable? Apologizing for ...
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1answer
217 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 ...
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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 ...
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1answer
219 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 ...
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1answer
53 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 ...
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2answers
250 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 ...
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1answer
73 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 ...
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1answer
68 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 ...
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1answer
66 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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2answers
267 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 ...
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2answers
651 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 ...
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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 ...
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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
302 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
157 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: ...
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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 ...
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1answer
59 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 ...
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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 ...
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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 ...
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3answers
149 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
855 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
276 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 ...
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1answer
158 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 ...