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72 votes
5 answers
25k 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 ...
Palpus's user avatar
  • 719
72 votes
1 answer
10k views

My friend cosigned for a defaulted loan. Should he declare Chapter 7 bankruptcy?

Background: My friend Abe co-signed an auto loan for about $25k with his "friend" Bella, in the USA state of Maryland, about 4-5 months ago. The car was for Bella's use. The deal was that ...
President James K. Polk's user avatar
72 votes
9 answers
42k 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 ...
JWea417's user avatar
  • 613
72 votes
4 answers
19k 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 ...
tjjen's user avatar
  • 701
72 votes
9 answers
11k 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 ...
Fattie's user avatar
  • 13.8k
72 votes
6 answers
9k views

At what point do index funds become unreliable?

Passively investing in exchange-traded funds that track some broad index is often recommended for private investors that don't have the time or expertise for active investment. In particular, index ...
henning no longer feeds AI's user avatar
71 votes
9 answers
41k views

Making $100,000 USD per month, no idea what to do with it

I have a few consulting jobs I do on the side, and this year I've had a lot of extra work, with several months in 2016 exceeding $100,000 USD in billing. I do this work from my home with no ...
Fixee's user avatar
  • 4,524
71 votes
9 answers
21k views

How is early-and-often home buying as "get rich" advice feasible?

I am being told by this guy that the following is a guaranteed-to-work way to become rich and retire early. He says to start early. 20 years, or near that age. Buy 1 house a year. Rent it out. Start ...
Okaei's user avatar
  • 659
71 votes
9 answers
34k views

How does a bank make money on an interest free secured loan?

I was having a discussion about the ethics of charging interest on a loan, and I was of the position that allowing the charging of interest encourages more loans to be given, and thus contributes to ...
Luke's user avatar
  • 907
71 votes
8 answers
22k 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 ...
luchonacho's user avatar
71 votes
4 answers
11k views

What are some tips for getting the upper hand in car price negotiations?

My family wheels are pushing 200K miles and lights are starting to come on, noises are starting to come out, and I want to investigate a newer car before I sink money into repairing mine. What are ...
MrChrister's user avatar
  • 25.3k
71 votes
3 answers
13k views

Does this type of scam exist?

I am not sure if I should be asking this in these forums, but I am going to do it anyway. I am a 16 year old boy who has overheard my mum speaking to some guy on the phone. I heard her talking about ...
clxud's user avatar
  • 561
70 votes
3 answers
19k views

If you have a home mortgage, why do you still have to pay all of the property tax?

If I have a home mortgage and have only paid off 20% of the principal, then the bank technically "owns" the remaining 80% of the home. So, why isn't the bank required to pay 80% of the property tax ...
user3163495's user avatar
70 votes
12 answers
55k views

I cosigned for a friend who is not paying the payment

I cosigned for a loan for a friend. He has now moved away and is not making payments. I have been asked to pay--they even called my job--and I need to keep my credit. The payments are too high for me ...
Leslie's user avatar
  • 657
70 votes
4 answers
29k views

Received an unexpected cashiers check for over $2K from another state - is this some scam?

This is actually about my sister-in-law who lives in Georgia. She just received a "cashiers check" for $2395 from a company in Indiana. It looks like this: She said that she has been doing "mystery ...
user avatar
70 votes
4 answers
142k views

How does a public company issue new shares without diluting the value held by existing shareholders?

When a public company issues new shares, the total number of shares traded in a secondary market goes up. Assuming there is no change in the fundamentals of the company and the profitability, I would ...
Mozan Sykol's user avatar
70 votes
4 answers
14k views

MasterCard won't disclose who leaked my credit card details

I was recently informed, by the payment processing agency of my bank, that an online shop was compromised and that as a precaution my MasterCard credit card was frozen and replaced. There was no ...
Tari's user avatar
  • 603
69 votes
11 answers
20k views

Why does it seem the best way to make a living is to invest in real estate?

I can't get past the idea that, if you work well in your job, you may get laid off or fired, and companies do not like to hire you when you get past the age 45 or 50. But if you invest in some houses ...
nonopolarity's user avatar
  • 1,593
69 votes
11 answers
20k views

How can I prepare for my US student debt?

I'm a student at Drexel University. Drexel is a notoriously expensive school, and I pay roughly $35,000/yr in tuition, after awards. What's more, it is a five-year school. Currently, I'm in my fourth ...
CretaZigman's user avatar
69 votes
11 answers
15k views

Stock market long term risks

This question has been spurred by the following question which was on the 'Hot Network Questions' Is it a lie that you can easily make money passively in the stock market? . The answers to that ...
ispiro's user avatar
  • 1,253
69 votes
2 answers
13k views

Our friends and we often barter babysitting time with each other. Do we owe taxes?

Our friends and we have an informal agreement that we will babysit eachother's kids when necessary. We don't pay any cash to each other for the service, but we agree to "repay" by providing ...
CodyBugstein's user avatar
  • 1,290
69 votes
10 answers
13k views

If a broad long-term investment in the stock market is such a good deal, why don't banks do the "obvious" things?

There is a fundamental discrepancy or paradox that has been keeping me, and many others, away from the stock market. Before I explain it, let me mention some selected popular questions on this site in ...
B K's user avatar
  • 824
68 votes
11 answers
40k views

Rent cheque was stolen from landlord - am I obligated to pay again?

I live in Quebec, and my rent cheque was stolen from my landlord as they travelled to the bank to deposit it. They've asked me to stop payment on the cheque, and provide them with a new one. The ...
lrey's user avatar
  • 887
68 votes
13 answers
27k views

Mother abusing my finances

I'm in a bit of a predicament so I want to give some background. I'm a 17-year-old who has a bank account with my mother as an account holder given that as a minor I cannot legally enter into an ...
Anonymous Rabbit's user avatar
68 votes
9 answers
21k views

Why do financial institutions charge so much to convert currency?

With all the modern technology that we have, I am astonished that financial institutions charge such exorbitant prices for currency conversions. My bank, Fifth Third, charges a 3% conversion fee, ...
Chris Cirefice's user avatar
68 votes
7 answers
20k views

1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, ...
Maurizio Carboni's user avatar
68 votes
3 answers
16k views

How did this day trader lose so much?

I recently read this article about a day trader that lost $100,000: A trader started a GoFundMe page to pay back $100,000 to E-Trade after a disastrous short Please explain this, because I can not ...
Marie Kiev's user avatar
68 votes
8 answers
134k views

What is the best way to accept payment when selling a used car?

I plan on selling a used car via Craigslist, and I hope to get between $4-5K for it. I don't want to take a check from a stranger, but I'm concerned that no one will be willing to show up at my house ...
Matt Solnit's user avatar
67 votes
6 answers
26k views

Stranger sent me $12,100

I have a small landscaping business and I advertised through Facebook. Some guy reached out to me via text message, asking me to do a job for him. He asked for a quote for installing sod in his ...
Sergio Fuentes's user avatar
67 votes
14 answers
11k views

What are some effective ways to help someone financially?

After managing my income and investments quite well over the last few years, I’m reaching the point of having more income than my personal needs require, and (after already giving thousands to charity ...
Simon E.'s user avatar
  • 711
67 votes
11 answers
32k views

Should I open a credit card when I turn 18 just to start a credit score?

I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
Jon's user avatar
  • 835
67 votes
3 answers
14k views

Saving for retirement: How much is enough?

How to save I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in ...
Stainsor's user avatar
  • 3,397
66 votes
17 answers
23k views

How to share income after marriage and kids?

My girlfriend and I are thinking about marriage and having children and I have spent the last days trying to figure out concepts how to handle finances from that point forward. I believe that this is ...
Chris's user avatar
  • 802
66 votes
8 answers
23k views

A newer friend of my brother's gave him a load of baseball cards that are supposedly extremely valuable. Is this a scam?

My brother is working in a union and has met a bunch of people and started making good money lately. Yesterday, a colleague of his needed a favor because his car broke down, so my brother spent the ...
el toro's user avatar
  • 1,030
66 votes
10 answers
29k views

What would prevent me from taking advantage of scammers?

Inspired by 20% monthly mining vs 5% monthly trading What would prevent me from investing $1,000 for a month, pulling out, investing with a different scammer, rinse & repeat? This question is ...
MonkeyZeus's user avatar
  • 8,473
66 votes
8 answers
67k views

A man wants to send me money

I’m from Spain. Through Instagram, I have just met a man from Dubai who wants to send me money and even offered to pay my rent in the future. He says he does it because he has too much money and wants ...
sophia's user avatar
  • 575
66 votes
7 answers
15k views

Is there a "catch" on my "increased credit limit"?

Today I received a letter from the bank that issued my credit card. Basically it says that, since I'm "one of their best customers" my credit (card) limit has been increased. This is the second time ...
Diego's user avatar
  • 827
66 votes
14 answers
14k views

Do Americans really use checks that often?

That might sound a bit silly to people from USA but is it really that common to use checks in America? I am from Austria and here (Austria, Germany, Switzerland) checks play practically no role in ...
Plankalkül's user avatar
65 votes
4 answers
27k views

Is this person wanting to pay my credit card trying to defraud me?

A friend of mine is in another state wanting to pay my credit card. He says he needs my credit card number, name on card, username, password, and card limit. Is he trying to defraud me? Or does he ...
Rene's user avatar
  • 673
65 votes
10 answers
19k views

Apartment I never lived in is collecting against me. Recourse?

I was looking at apartments a year ago, and found the "perfect" apartment online. However, I couldn't go look at it until the following weekend. Unfortunately, the apartment had already been listed ...
Soviero's user avatar
  • 1,362
65 votes
10 answers
18k views

Are Index Funds really as good as "experts" claim?

I use the quotations because generally the people touting these the most (John Bogle) are also ones selling the index funds. Being biased doesn't mean they're wrong, but it does mean they may not be ...
dcg1000's user avatar
  • 661
65 votes
9 answers
28k views

What happens if a company buys back all of its shares?

As far as I know, it shouldn't happen, a company shouldn't have that much cash to be able buy all of its shares, because the share price should indicate that the company has that much cash in the ...
user2414208's user avatar
65 votes
2 answers
17k views

I won a car in a poker game. How is that taxed in Canada?

For the sake of title transfer and taxes, is this a gift or a sale? This was a private game. We both tossed our keys into the pot. I won and the vehicle is now sitting on my driveway. I live in ...
user avatar
64 votes
8 answers
21k views

Should I deplete my saving and buy a house with cash, or should I rent?

My wife and I are very frugal. We've been living abroad for several years and saved a decent amount of our salaries. We've decided to move back to the US this year. We've found a modest home that ...
krayziesensei's user avatar
64 votes
5 answers
22k views

Can a company block a specific person from buying its stock?

Say there is a very rich, very unpopular individual. This individual wishes to buy millions of dollars in stock in a company he or she thinks will be successful. The company, however, realizes that by ...
WannabeCoder's user avatar
  • 2,065
63 votes
5 answers
18k views

What should I do if I lost money in a scam?

I live in New Jersey and my son wanted to order some toys from this guy who said he makes them in his house and he could give him the best deal, but before he could send these toys he needed my 16 ...
KIM STEINHEIMER's user avatar
63 votes
10 answers
15k views

Why don't bond makers just get loans?

I was just looking at investment opportunities, and I found a number of places offering bonds paying up to 12% interest over two years. My first thought was, I can get a loan from my bank for 5% ...
Benubird's user avatar
  • 807
63 votes
10 answers
38k views

Pay off car loan entirely or leave $1 until the end of the loan period?

Background information: I have a car loan that doesn't require payments if I'm ahead on the loan (but accrues the interest, of course, on the balance remaining). I still have a year and a half on my ...
user0721090601's user avatar
63 votes
11 answers
36k views

I'm 18 and have 6 grand. What should I do with it?

I'm 18 and about to go to college. Luckily, I don't have to worry about student loans or most other living expenses. I've been working and have over $6,000 (will probably be about $7,000 by the end of ...
Emily Harms's user avatar
63 votes
9 answers
19k views

Is it true that, "just ten trading days represent 63 per cent of the returns of the past 50 years"?

I have fallen down a Wikipedia rabbit hole and landed on the page titled Seven States of Randomness. I can't explain in a single sentence what it is talking about, but my question is about an odd ...
KDecker's user avatar
  • 1,108

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