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91
votes
7answers
49k views

Why is the stock market closed on the weekend?

It's all digital and done with computers these days, so why bother? Doesn't that just make the system less liquid, which is the opposite to one aim of having the stock market? Plus can't you just ...
90
votes
15answers
16k views

how do you value what your leisure time is worth?

Time and money are finite resources. They're reasonably easy to convert from one to the other. Some people value one more than the other. Some circumstances may warrant valuing one more than the other....
90
votes
11answers
65k views

15 year mortgage vs 30 year paid off in 15

I've found similar questions, but they all seem to focus on a preexisting 30 year mortgage and whether or not it makes sense to refinance to a 15. My question is a bit different. I have not yet ...
90
votes
3answers
19k views

Is it true that the price of diamonds is based on a monopoly?

I've heard quite often that the only reason diamonds have the high value they have is because the price is set by a single worldwide diamond mining monopoly. That, if actual quantity versus demand is ...
89
votes
5answers
32k views

Nigerian scammer openly say they are from Nigeria - but why?

I know that a significant part of Nigerian scammers are indeed working from Nigeria. A scam starts with exchanging messages. Physical contact is not to be expected. It is widely known that scammer ...
89
votes
6answers
22k views

Why do credit cards have their number and CVC code printed on them for all to see?

Ever since online commerce became a reality, it was sufficient to know the credit card number, expiration date and CVC code to purchase anything online. Things are slowly changing as MFA is getting ...
89
votes
7answers
21k views

What should I do about a dealer that took a deposit then sold my motorcycle to someone else?

I recently was interested in purchasing a motorcycle from a dealer but I was about to be out of town for a few days for a vacation. I called him and said I can make a deposit on the bike for $500. He ...
89
votes
5answers
21k views

How do scammers retract money, while you can’t?

I see a lot of question about scams with the same premises: Someone puts money in your account. You send money somewhere. They take their money back, while you lost your money. I don't know a whole ...
88
votes
5answers
19k views

I have sole custody of my child but the child's father's brother claimed him as a tax deduction

I have court papers showing that I have full and sole custody of my son and that he was with me like 99% of the year. I let my son's father have him a few weekends last year but only a handful. My ...
88
votes
12answers
55k views

Is there any way to buy a new car directly from Toyota without going through a dealership?

I'm so tired of haggling with the dealers at a local Toyota dealership. They are not only pressing, but also aggressive, condescending and mean. I want to cut the middleman. I know exactly what I ...
88
votes
22answers
17k views

In a competitive market, why is movie theater popcorn expensive?

I have seen some arguments claim that movie theater popcorn is expensive because the theater acts as a monopolist. However, this is only true after I have paid for a movie ticket. Before entering the ...
87
votes
6answers
29k views

I co-signed on an apartment for a now ex-boyfriend who refuses to pay. What can I do?

I co-signed on an apartment with my ex-boyfriend when I was 18 and he was 21. We broke up. I am now 26 and it has been in collections for years. He refuses to help pay the debt. I am now stuck with ...
86
votes
8answers
188k views

Is it a scam if the person only wants to deposit into my account, not make a withdrawal?

A man in west coast Austria wants to deposit money into my account. I'm in Alabama. I had to get an online account. I did that, but he says his bank manager needs all this information: DOB ...
86
votes
13answers
30k views

Paid cash for a car, but dealer wants to change price

My son recently graduated from college, and he and his wife went to buy a car. They never discussed financing with the dealer. They agreed on a price, went to the bank and brought back a cashiers ...
85
votes
10answers
26k views

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

I am based in the EU, so I have very little knowledge of how the US legal system works. I have been contacted by a "law firm" in the US about a financial issue: a company in which I own a small ...
84
votes
18answers
79k views

By 18 years of age, I want a brand new car that's $43,668

I'm from Arizona and I will be 18 in 4 months. I make about $1,200 a month from my job. I have $600 in my bank account and I don't plan to spend any of it until I'm 18. I'm looking to get a ...
84
votes
11answers
25k views

What to do if I can't trust myself with monthly wages?

I work in the UK, like most people here I get paid once a month. I've been doing this for about 2 years now (on a modest income) and my ability to make the money last has not gotten better (if ...
84
votes
7answers
36k views

Is this $200 “welcome money” (from a major bank) some sort of scam?

I googled around (this in the US) about "bank accounts you can open online", I noticed: https://www.us.hsbc.com/checking-accounts/campaigns/offer-2018/#advance-checking-details Notice they will (...
84
votes
10answers
14k views

Why is being “upside down” on a mortgage so bad?

For the longest time (especially during/after the housing crash in the US), people would speak in hushed whispers or terrified pleas when they talked about being upside down on their mortgage. While I ...
84
votes
15answers
17k views

How to spend more? (AKA, how to avoid being a miser)

I was blessed growing up to have a father that greatly impressed upon me the need to save. I am very thankful for his influence, it has allowed me to make smart decisions with my money and I am ...
84
votes
5answers
19k views

How to get rid of someone else's debt collector?

For the past three and a half years (as long as we've had this phone number -- a land line), we've been getting calls from debt collectors for the person who apparently used to have our number. The ...
81
votes
12answers
36k views

A friend asks me all the time to pick up money for her (Western Union, Moneygram)

A friend of mine trades Bitcoin and often asks me to pick up money for her, i.e., someone sends money to me (on my name) and I just pick it up and give it to my friend. The amounts are usually around $...
80
votes
22answers
23k views

Why would you ever turn down a raise in salary?

Related to a comment on this question: Is it true that Income Tax was created to finance troops for World War I? Does it ever make financial sense to turn down a raise at your job? It was mentioned ...
80
votes
4answers
33k views

Someone wants to send me cash by DHL. How's this scam supposed to work?

This raises a bunch of red flags (also confirmed by googling the email address it came from), but I don't quite understand how this scam is actually supposed to work. So, here it goes: I put up an ad ...
80
votes
10answers
19k views

Buying from an aggressive salesperson

I am shopping for a new, high-end musical instrument. In the US anyways, pricing is opaque and must be negotiated, and dealers sometimes adopt aggressive sales tactics. I am considering buying a ...
79
votes
15answers
19k views

Are small insurances worth it?

Small insurances like phone insurance, tire insurance, etc. Are these worth it? In general I always have a bad gut feeling about any insurance. I just don't like the idea of paying for stuff I never ...
79
votes
4answers
23k views

Bank claims debit card was physically scanned - half a continent away. What could have happened?

I have had the same debit card for several years, and I've never had a problem with any fraudulent charges until yesterday. I am careful about where I use my debit card number online, and I am fairly ...
78
votes
7answers
29k views

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

An online company hired my friend as an account assistant. They told him they are a business consulting firm, and that they need an account assistant in every area. His job is the following: Some ...
78
votes
6answers
14k views

Why has bitcoin gained so much in the past year?

Over the past year, the value of bitcoin has gone from 1030.82 USD on 3 Jan 2017 to 10755.89 USD today. That's a price increase of 1000%. I'm only an amateur investor, but in my mind that increase is ...
77
votes
10answers
34k views

Why don't banks give access to all your transaction activity?

In the era of big data, I find it surprising that banks and credit card companies only offer access to a ridiculously small number of transactions - often only your last 180 days, if that. The longest ...
77
votes
4answers
13k views

The USA “self-employment tax dodge” mystery

For non-US readers: In the US, for those who are self-employed, there are many specific taxes. One particular tax is the confusingly named "The Self-Employment Tax". Thus, if you are self-employed, ...
76
votes
16answers
18k views

How to prevent myself from buying things I don't want

We all buy stuff from time to time that only satisfies us for a short time. I was able to locate a few expenses that fall under that category. Unfortunately, there are a few products I've wanted to ...
75
votes
11answers
21k views

Dissuading my girlfriend from a scam

A significant portion of my girlfriend's family have fallen for, what seems to me, an obvious ponzi scheme. They take money, in cash, to a casino in the area. They give the casino the cash, and one ...
75
votes
11answers
17k views

Parent asking for money after I moved out

My parents are divorced and my dad has to pay to my mom financial support for everyone in the family. Because I moved out, my dad removed part of this financial support that he gives my mom. She is ...
75
votes
14answers
15k views

What emergencies could justify a highly liquid emergency fund?

I've seen several questions (e.g. here) that challenge the need for complete liquidity in an emergency fund. Answers often focus not just on the potential for market downturns to affect your ability ...
75
votes
10answers
15k views

Why does a company pay dividends at all?

If a company can lower the dividends and even stop paying them at all during hard times, why would they re-install them at all? If I understand correctly a company pays dividends so that investors ...
75
votes
9answers
14k views

Should I sign the back of my credit card?

When getting a new credit card, what is the policy in regards to signing the strip on the back? Should I sign it? Should I write "See ID"? Should I leave it blank? Should I sign it AND write "See ID"? ...
74
votes
6answers
26k views

A debt collector will not allow me to pay a debt, what steps should I take?

I was contacted several months ago about a debt collection for an incredibly small sum. I asked to be sent something in the mail where I could remit payment for it. The individual told me the debt ...
74
votes
9answers
20k views

Selling online - Is private transportation indicative of a scam? Does PayPal make it safe?

I'm in the process of selling some furniture online. I use a website called dba.dk, which is the Danish equivalent of eBay (it was actually bought by eBay some years ago). The website is mainstream (...
74
votes
6answers
28k views

Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here?

I currently own a flat (UK) and have a mortgage for said flat. My girlfriend is looking for a place to stay and it would seem mutually beneficial that she stays with me. She has offered to pay 'rent' ...
74
votes
6answers
16k views

Pay online: credit card or debit card?

I have a credit card and a debit card. I could use both to pay online. Credit card is only a bit less convenient since I have to transfer the money back in the credit card account later. Is it safer ...
73
votes
13answers
17k views

What (if any) is the reason to buy in small local stores?

Recently I have heard movements from the local stores (say clothes, electronics, foods, etc) and some politicians (of a particular wing) that argue that you should buy in local, small stores. ...
72
votes
5answers
23k views

Why is a friend asking me to make multiple Money Gram transfers in my name using his money?

For the past few months, someone that I know casually is sending money to the Philippines every 2 to 3 days. He mentioned that the money is going to his family so that they can use it to travel to ...
72
votes
11answers
17k views

Won the lottery - how do I keep the money?

Sadly only a hypothetical question, but here it goes: If you suddenly gained a large sum of money (several million $/€/whatever) by winning the lottery, some inheritance or anything else, how could ...
71
votes
6answers
158k views

Sugar daddy wants my online banking login info to make deposits — is it a scam?

Someone is offering to pay me in a sort of sugar daddy/sugar baby arrangement. They want to make online deposits to me, and they're asking me for my online banking username and password. Is that ...
71
votes
11answers
19k views

Shouldn't the “credit score” prevent Americans from going deeper and deeper into personal debt?

I'm not from the U.S but I know about the dreaded "credit score" that haunts Americans. I've seen a lot of documentaries and videos on YouTube with people that can't get a loan to buy a house because ...
71
votes
9answers
31k views

If the co-signer on my car loan dies, can the family take the car from me like they're threatening to?

I have a car, both me and by grandpa are on the title. As I cannot get loan on my own, my grandpa is my cosigner. My grandpa is almost 90, and chances are he may not be around till the loan is paid ...
71
votes
4answers
17k views

Is there any danger of my neighbor having my wife's signature?

On Monday my next door neighbor came over and asked my wife for her signature. He said they were having a contest at work (he works at the local grocery store) that whoever got the most signatures got ...
71
votes
8answers
21k views

Why doesn’t every company and individual use tax-havens to pay less taxes?

The main message emerging from Panama Papers, Paradise Papers, and the like, is that it is the rich, powerful and famous who make use of and benefit from tax havens. And yet, the same law that these ...
71
votes
9answers
10k views

Ballpark salary equivalent today of “healthcare benefits” in the US?

For my friends in the US, when considering positions (this applies to either salary or contract positions) I've heard it's sometimes along the lines of, you can have X with healthcare, or Y with no ...

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