Questions tagged [savings]

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

Filter by
Sorted by
Tagged with
3
votes
3answers
347 views

Software to roll up funds distributed across multiple bank accounts

I previously asked how to use Gnucash category structure for funds distributed across multiple bank accounts and am now thinking gnucash just can't do what I need, or even if it can maybe others can ...
3
votes
3answers
219 views

Is it preferable to move emergency savings/retirement into offset mortgage?

I have some savings in an easy access stocks & shares ISA. I view this as long-term savings/emergency money. Is it preferable to leave the money in there or is it better to transfer that across ...
3
votes
2answers
566 views

What is covered by CDIC savings deposit insurance?

In the unlikely event that a financial institution fails in Canada, what is covered by the Canadian Deposit Insurance Corporation? What is the limit of coverage?
3
votes
2answers
213 views

Received an unexpected windfall and have no skills or knowledge of finance (UK)

Good Evening, I work and live independently with a lifestyle that isn't lavish but is perfectly comfortable for my needs. Recently, I was the beneficiary of a sum that is about 10 times the amount of ...
3
votes
2answers
539 views

interest compounded daily vs monthly

I want to compare two saving accounts with same APY, but one has interest "compounded daily and credited monthly" and the other has interest "compounded monthly and credited monthly". Which will yield ...
3
votes
3answers
467 views

Saving vs. Living Life

Saving is good. Everyone knows this. However, it is important to not get so caught up in cash hoarding that you forget to live life. Our savings goal is $1m in revenue/interest bearing assets, ...
3
votes
4answers
189 views

How common is it for banks to lower the high-yield introductory rate they use to entice people?

I was looking to put some money in a simple savings or money market account. But I found a caveat in each bank’s small print that made me hesitate. The bank’s marketing shows a high rate, say 1.5% to ...
3
votes
2answers
5k views

“Help To Buy ISA” - £200/month a hard limit?

I have recently moved back in with my parents with a view of saving £500-600 a month to put towards a deposit on a house. I am looking at getting a Help To Buy ISA through one of the UK banking ...
3
votes
3answers
300 views

Easiest way to diversify savings

Finance has always been a bit of a black art beyond current and savings accounts, so I'm hoping this makes sense. In light of the possibility of Britain leaving the EU (that isn't the actual reason, ...
3
votes
1answer
230 views

Should I put a small amount of savings in a high interest savings account?

The highest in Canada that I've found is 2.8% interest, compounded annually where the interest is calculated daily. I have $2000, and the initial amount and the interest earned is guaranteed by a ...
3
votes
2answers
152 views

Automate Savings by Percentage on varying paychecks?

My boyfriend's paycheck varies every week because the hours he works depend on the volume of business. While usually around 40 hours, sometimes it is quite a bit less or quite a bit more. The ...
3
votes
2answers
393 views

Is credit history more important than amount of savings when applying for a mortgage?

I am currently in Australia and fixing to buy a house here. What is given more value when I apply for a mortgage to buy a unit in an apartment: a sound credit history, or a lot of savings in the bank ?...
3
votes
1answer
205 views

Better rate for investment between CD or savings

I have been considering either renewing my CD (Certificate of Deposit) from my local Credit Union which is at 1.35% APR (1.3591 %) dividend rate (monthly compounded) for one year. I recently noticed ...
3
votes
1answer
478 views

Building an ETF portfolio: Is it even possible to diversify?

I want to start investing my money. I've decided to invest a monthly fixed amount by buying ETFs. I am currently investigating different ETFs to decide on what my portfolio allocation will look like. ...
3
votes
1answer
626 views

Journal entry for savings of multiple family members

I'm recording family-related transactions in a journal. My question is regarding a cash deposit (asset debit). For example, my family earned $300 at a garage sale. I deposit that entire amount into ...
3
votes
4answers
326 views

Should I invest everything in emerging markets ETF when I'm young?

Lifecycle investing is growing in popularity in the industry, where people in their 20s and 30s are invested into high risk portfolios (equities) and people approaching retirement are transitioned ...
3
votes
1answer
140 views

Best way to do savings in India?

I have started to earn a year ago. All my funds are currently in banks. Is there any better way save money than leaving it in a bank account?
3
votes
2answers
194 views

Looking into investment bonds for the first time- what do I need to be aware of?

I have an ISA that has matured recently, and am now looking to reinvest that balance elsewhere. Given that most of the ways I usually save (current/ savings accounts, regular savers, ISAs, etc) aren't ...
3
votes
1answer
138 views

How does my higher rate tax on savings interest get paid. **UK, pre-2016**

I earn over £42k, the limit for higher rate tax. See here. This means I have to pay higher tax on my savings accounts. See Here. Higher or additional rate taxpayers You must pay extra tax on ...
3
votes
1answer
151 views

How exactly do I determine my savings rate?

Surely it's not nearly as simple as (amount saved)/(take-home pay), since if I make pre-tax contributions to a 401(k) or HSA I pay less in taxes, and money I save in not being taxes is, well, money ...
3
votes
1answer
439 views

Advice on replacing my savings account

I currently have a Vanguard account (Mutual Fund) with about $10,000 in it (more now). I have a savings account with about $7,000 which I consider my "rainy day" fund and I try to put money into my ...
3
votes
1answer
2k views

What is the easiest way to open a foreign Bank Account?

I live in Argentina. Nowadays in my country it is almost impossible to buy foreign currencies as American dollars or Euros. I was thinking if it is possible to open a foreign Bank Account to be able ...
3
votes
1answer
8k views

What are some FSA eligible expenses that can be used for baby care?

I signed up for a Flexible Spending Account (FSA), and am now trying to figure out what all is covered under it. I know some of the basic products like band aids and glasses are, but I'm really ...
3
votes
1answer
3k views

Can one designate a beneficiary for a savings account in Canada?

For most registered accounts, you can designate a beneficiary in the event of your demise. Is it possible to do the same for a regular bank or high-interest savings account without creating a will? An ...
3
votes
2answers
290 views

Saving money after paying income tax

UPDATE 1: I ask this question because I don't understand why there is a large market for tax free savings account, when your savings should already be tax free... ORIGINAL QUESTION: I am in the UK, ...
3
votes
2answers
194 views

HTB ISA/ Lifetime ISA - combining them to use for a house deposit

I opened a HTB ISA with Halifax (paying 3.5%), as soon as they became available in December 2015, and have been contributing the maximum amount since. I then opened a stocks & shares LISA (with ...
3
votes
1answer
105 views

Short Term Strategy For Maximising Savings AsAlternative To ISA

I have been saving for about 10 years, putting the maximum into a cash ISA every year I have been able. I currently have around £50,000 in there. In approximately 2 years I plan to buy a property, ...
3
votes
3answers
202 views

Beginning investment

I'm 24, live in Australia, married (no kids) and renting. My wife studies and works a well paying, flexible job. I work in an unskilled government job that pulls in $50k-$60k per year. Currently we ...
3
votes
1answer
125 views

Managing an Account with Multiple Categories

Assume I setup and account that has multiple categories, say I have 1000 to invest, and I do something like this: 300 Kid 1 college 300 Kid 2 college 150 Emergency Fund 250 New House It is pretty ...
3
votes
4answers
838 views

How can a 'saver' maintain or increase wealth in low interest rate economy?

If low interest rates disadvantage 'savers' what are they supposed to do if they are not inclined to buy and spend? Where should you put your money (instead of it stagnating in low interest rate ...
3
votes
1answer
600 views

How often do Savings Banks in India pay interest?

As per my understanding, Banks in India are to run under the directives of the Reserve Bank of India. How often do they pay dividends on the interest that they offer on Savings bank accounts? Every ...
3
votes
1answer
1k views

Should I move my UK ISA balance into an Australian savings account prior to emigrating?

I have around £6000 in a Santander UK easy ISA, the interest rate on this is 0.10% as listed here I'm planning to emigrate to Australian in the next year, so will be setting up a bank account soon. ...
3
votes
1answer
288 views

What options exist for UK non-residents to preserve capital while abroad?

I'm a British national, currently working in Ireland and shortly moving to US on an internal transfer. I have some money in the UK which I intend to use for a property deposit when I return in ~3 ...
3
votes
1answer
1k views

Anything wrong with American Express “Personal High Yield Savings” account?

I got a letter through the mail from American Express offering me a sweet 1.3% interest rate with an FDIC-insured savings account. I currently have a business savings account with a princely 0.35% ...
3
votes
1answer
104 views

How to account for transferring money to an investment account?

I have recently been asked to look after the books temporarily for a small not for profit sports club in Christchurch New Zealand. I noticed that they had entered transferring of money from the ...
3
votes
1answer
305 views

My employer offers an FSA and HRA but it's not enough. What other options do I have?

My financial situation is unique. I have a son with a degenerative illness that requires on going treatment. This year my employer contributed $1500 to an HRA and I contributed $2000 to an FSA. I ...
3
votes
1answer
255 views

Looking to invest a part of my savings in state loans (bonds), how do I approach this?

I've read in several sources that once you have a certain amount of money it makes sense to invest it, rather than putting it in a savings account. Which makes sense since taxation on investments can ...
3
votes
1answer
5k views

How to invest 10k dollars, at the age of 23?

I have some money of my own that I have saved for years. At the moment I am 23, pursuing my masters. I have a little bit over 10k dollars. What would be a clever way invest my money. I am not looking ...
3
votes
1answer
122 views

Is there a non-US app (Chrome/iPhone/Cloud) where one can set financial goals and keep track of progress?

I'm looking for an applications where I can set individual financial goals such as a house, a car, vacations, etc, set how much money I need for said goal, and log progress towards it. Ideally this ...
3
votes
1answer
168 views

Moving money to the UK and investing

Because of the financial status of a certain European country (euro member) - I'm afraid of loosing money in case of a default, so I'm looking into options of moving family money to the UK, where I ...
3
votes
1answer
149 views

How do I manage a savings account for various (non-monthly) lump sum costs?

I already have a savings account with my bank, and save regularly on a monthly basis as part of a budget. However, I often find myself saving for particular items, say a future trip, or next year's ...
3
votes
0answers
61 views

Are Netherlands“second pillar” pensions USA Section 402 compliant?

I am a US citizen and work in the Netherlands as an employee for a Dutch company. In the Netherlands, the retirement pension system is based on three pillars: the public pension scheme, akin to the ...
3
votes
0answers
81 views

How do I see how much savings I will have at the end of the budget period with GnuCash?

I have set up a budget in GnuCash for a one year period, and I started out with some money in each of my accounts. How do I find out how much money I will be left with at the end of the budget period? ...
3
votes
5answers
952 views

What should I do with my money?

I'm a final year University student with about 50k (AUD) in the bank earning interest at 2.8%. I have nearly finished my paid full time placement which is why I have a lot of money currently as I ...
3
votes
5answers
395 views

I have $10,000 sitting in an account making around $1 per month interest, what are some better options? [closed]

So i have $10,000 in an account and i'm only making around $1 per month interest on it. It's not doing much and i want to make it work harder. What are some better (safe) ways for me to invest / move ...
3
votes
3answers
1k views

Does girlfriend have too much savings, time to invest?

My girlfriend is quite frugal and has successfully maintained an emergency fund of about $15,000 with an "incidentals" account that sits around $3,000. She does not earn a lot of money, about $35,...
3
votes
2answers
217 views

Retirement planning: Pension or personal saving/investing?

I work on short-term contracts that are well-paid - however, not knowing how long I will be working on a job, I have got into the habit of 'making hay while the sun shines' and saving what I can to ...
2
votes
2answers
942 views

Depositing a second party check for $10,000

Friend without bank account wants me to deposit a gift check in my savings account. Will I be taxed for it or have other implications?
2
votes
2answers
2k views

Why can't I withdraw the $57 in my account?

Friday, I noticed that there is still $57 remaining in my checking account after paying bills and withdrawing the cash I needed. I tried using it for food, but I'm unable to spend or withdraw the $57 ...
2
votes
4answers
387 views

What to do with savings for 3-5 years?

Here's the situation: Married, late 30's, combined income around $170k. 2 toddlers. We owe $360k on a house worth $600k. Only other debt is $20k each in student loans. 401k plans are in order. We have ...