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63 votes
4 answers
34k views

Counterfeit checks were created for my account. How does this type of fraud work?

Two days ago, first thing in the morning I updated my quicken accounts and saw that my primary checking account had two unidentified checks totaling several thousand dollars, wiping out the account ...
EdStevens's user avatar
  • 643
62 votes
6 answers
21k views

Is it legal to photograph and test ATMs?

Some online company asked me do a job like this We have a special task for you! Our analyst department collects information regarding Bitcoin ATMs across different states and cities. In most ...
mikeAD's user avatar
  • 513
62 votes
6 answers
13k views

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
Franck Dernoncourt's user avatar
62 votes
6 answers
13k views

Wife is cosigned on a credit card with her parents — real assets are also shared. How to protect my credit?

A few years ago I got a credit monitoring app and started watching my credit score (high 700s). It's been climbing slowly and sends me an alert when I apply for new credit — like when I bought a car ...
anonibon's user avatar
  • 541
62 votes
4 answers
18k views

Closed account, haven't received payment. When has the bank "stolen" my money?

Background I closed a checking account over 40 days ago at a large national bank in the US. I was told I would receive a check for the remainder (>$1000) in one to two weeks. I still have not ...
Jack's user avatar
  • 693
61 votes
14 answers
32k views

Is it a lie that you can easily make money passively in the stock market?

People on this site often recommend that investing in an index fund is a good, passive way to make money long-term. But this is clearly not true. Even if we ignore the risk associated with ...
Margin's user avatar
  • 797
61 votes
5 answers
25k views

Should I worry about having my credit pulled multiple times while car shopping?

I went to a dealership today and they pulled my credit after a test drive. I've heard that as long as you get your credit pulled for an auto loan within a few days, multiple pulls will only count as ...
Chris's user avatar
  • 489
61 votes
2 answers
15k views

Found more old paper shares from broken up companies

I recently asked a question with regards to 36 physical shares of motorola inc from 1999 I found lying around. Thanks to the great answer I received (if you're wondering they're worth around $3000), I ...
thelegend27's user avatar
61 votes
9 answers
27k views

What are the alternatives to compound interest for a Muslim?

I have read the importance of saving early and the power of compound interest many many times. However I am a Muslim and cannot participate in anything involving interest. I also learned that keeping ...
user avatar
61 votes
6 answers
8k views

Good allowance savings plan?

I am about to begin receiving a weekly allowance from my dad. As I am not great at controlling my "buy buy buy now" impulses, could you guys help me put together a savings plan for my allowance, given ...
SushiCraft 99's user avatar
61 votes
3 answers
8k views

How can I invest in country A to take advantage of their great interest rate while I live in country B?

If I live in the US, for example, where current interest rates are practically nil, how can I take advantage of the fact that interest rates in Australia are almost 5%?
Michael Pryor's user avatar
60 votes
12 answers
26k views

What should I do with $4,000 cash and High Interest Debt?

I'm receiving a $4,000 gift. I'm going to put $1,000 in an account. Next - with this gift I can pay off a credit card with a 23% APR or I can make a 15% dent in a 26% APR credit card. Do I pay off ...
Patti Reiss's user avatar
60 votes
15 answers
22k views

Credit card details stolen every 1-2 years. What am I doing wrong? [duplicate]

Background I just had my credit card canceled because of fraud. This is actually a perfectly normal occurrence for me, which is the impetus behind this question. The card in question was only about ...
conman's user avatar
  • 681
60 votes
9 answers
18k views

Why are 30-year mortgages seen as unwise, if you can pay off the loan in a shorter period of time anyway?

I'm slowly working towards buying my first home (yay!), and have been playing around with the numbers. As far as I can tell, there's literally zero advantage for getting a 10 or 15-year mortgage since ...
user avatar
60 votes
4 answers
17k views

If you cut dollar bills in half and then put them back together, are they still valid?

In Amazing Spider-Man #39, a disguised Norman Osborne (the Green Goblin) hires a bunch of hit-men to take on Spider-Man and does it by giving them half the money now. Literally: he splits the bills in ...
Thunderforge's user avatar
  • 1,345
59 votes
16 answers
19k views

Why can't we all agree to create a self-fulfilling prophecy with regards to the stock market?

To start off, I'm very green in my understanding about finance or the behavior of the stock market, but it does seem to me to be driven largely by fears & emotions of investors. If investors feel ...
Will's user avatar
  • 1,057
59 votes
13 answers
15k views

Why isn't the market dropping like a stone with all the bad news?

So I am reading and listening to the news, watching the numbers re Covid-19, listening to and reading apocalyptic accounts of the coming recession, hearing of record breaking unemployment reports and ...
Peter Bowers's user avatar
59 votes
5 answers
17k views

Borrowing money in one country to pay off debt in another

I'm currently living in Germany and can borrow a substantial amount of money at almost no interest, effective 3.4%. In my home country I have several mortgages, basically at the moment funding ...
Cillier's user avatar
  • 693
59 votes
8 answers
127k views

Theoretically, if I bought more than 50% of a company's stocks, will I own the company?

Inspired by this question, I wondered what the implications of owning the majority (> 50%) of a company's stocks are. Will I own said company? Will I be able to call the shots? What if someone was ...
Zaenille's user avatar
  • 4,334
58 votes
6 answers
45k views

How can a company use money from stock investors when they are constantly being bought and sold?

I am interested in the mechanisms which a company can use the money that investors give them when they buy a public stock since they are being bought and sold constantly. How can a company spend other ...
Katz_Katz_Katz's user avatar
58 votes
7 answers
15k views

Is US health insurance just a terrible deal overall for a healthy young adult?

Since it is open enrollment period, it is once again time for me and my family to review our decisions about our healthcare insurance. These days, there are quite a few nuances to healthcare insurance ...
Melissa P.'s user avatar
58 votes
4 answers
20k views

Why would a home seller ask a buyer to offer LESS?

My brother-in-law is looking to buy a house. The house he wants has been on the market for a long time, and it's in pre-foreclosure. The owners are underwater on it. He submitted a lowball offer, ...
user278411's user avatar
58 votes
8 answers
17k views

Do rental car agencies sell their cars at a time when it is risky for the purchaser?

I want to buy a used car, but found many used cars were formerly owned by rental car agencies. Many websites and articles warn against buying former rental cars, because people renting these cars ...
Village's user avatar
  • 2,813
58 votes
5 answers
25k views

In what cases can a business refuse to take cash?

Printed on US currency you will find "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE". Some businesses have refused to accept larger bills for a long time, as other forms of payment have ...
NL - Apologize to Monica's user avatar
58 votes
11 answers
8k views

Should you always max out contributions to your 401k?

I am a year out of college, and therefore, i don't have any real retirement/investment plans kicked off. I was having a discussion with my boss, and he was making a few claims I would like to get ...
user606723's user avatar
  • 1,099
58 votes
5 answers
19k views

How can I sell my shares in a privately-owned company I used to be employed by?

Basically, I was a software developer at a company and I was issued some stock options early on, before the company grew significantly. The company then hired a CEO who pledged to take the company ...
user2302909's user avatar
57 votes
8 answers
22k views

Can I become debt free or should I file for bankruptcy? How do I manage my debt and finances?

I am 35 years old, single, and live in the US. My income is 78K to 80K after taxes and insurance. I pay $1,500 for rent+utilities, $150 for phone bill, $450 for auto loan, $300 for auto insurance (...
The Guest's user avatar
  • 795
57 votes
13 answers
21k views

Should a sibling pay rent to another sibling on a jointly owned house?

My sister and I own our parents' home. In July 2000, our mother became unable to live on her own. My sister and her husband didn't want to move in because the house was too small and too old. They ...
Brenda L Godwin's user avatar
57 votes
11 answers
24k views

Does my tax refund need to be as close to zero dollars as possible?

Am I doing my taxes wrong? I am receiving around 1000 dollars in tax refund, and someone tells me it should be as close as to zero as possible, I thought the tax refund was government giving back most ...
andyADD's user avatar
  • 717
57 votes
7 answers
14k views

Should I use a zero-interest credit card for a large one-time purchase?

An upcoming purchase (nearing $10,000, in the US) would drain savings more than I'd be comfortable with, and I'm wondering if using a zero-interest card to effectively spread out that purchase for 15-...
StayOnTarget's user avatar
57 votes
10 answers
28k views

When is it better to move - before or after a housing bubble bursts?

My husband and I currently own our home and are looking at upgrading to a bigger house in the next year or two. The housing market right now in our area (US East Coast city) is doing really well, and ...
David K's user avatar
  • 768
57 votes
8 answers
53k views

Received a package but didn't order it

My boyfriend's little brother received 2 packages today. One from Eastbay and the other from Office Depot. They were addressed to him but never ordered by him. We called both companies and they gave ...
EBoardman's user avatar
  • 529
57 votes
12 answers
28k views

Should I pay off a 0% car loan?

I'm ahead on 0% interest car loan. I don't have to make a payment until October. I currently owe $3,000 and I could pay it all off. Should I do that or leave that money in my savings account that ...
Steve's user avatar
  • 571
57 votes
5 answers
107k views

What happens if one brings more than 10,000 USD with them into the US?

Suppose one has $1,000,000 in a suitcase and they are flying to the US. Suppose they check the box in their customs form that says they're bringing more than $10,000 with them. They show the form to ...
mathemagician's user avatar
57 votes
2 answers
29k views

How can GameStop be short 140% of float?

"Short positions currently make up an impossible 140% of GameStop’s float, which is the result of a flaw in how short interest is calculated, a flaw that’s getting greatly magnified in the case ...
Kaguya Ōtsutsuki's user avatar
56 votes
8 answers
21k views

I won $9500 in a game. Now they're asking me to send it back via different means, promising me more money if I do so

I played a guessing type game. I won and ended up giving them all this info. I got $9500 in my account but now they are asking me to send it back through different means. They say it's to prove to the ...
Kayla Davidson's user avatar
56 votes
20 answers
15k views

Are there any financial disadvantages to living significantly "below your means"?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: ...
seventyeightist's user avatar
56 votes
10 answers
12k views

Why do I need an emergency fund if I already have investments?

A lot of financial advisers say you should have an emergency fund, in addition to whatever else you're doing. I don't really see the benefit, but let me be more specific. I definitely see that it's ...
Stephen's user avatar
  • 871
56 votes
7 answers
12k views

Looking after a wayward brother in mother's will

My brother has a problem with money; twice personally bankrupt, 3 marriages and 2 kids (from the 2nd marriage). Our mother is getting old and getting worried. She worries that if she wills him money,...
bendecko's user avatar
  • 619
56 votes
7 answers
19k views

How big of a mortgage can I realistically afford?

I'm 25, and I'm in the process of closing on a $260,000 mortgage for a very nice condo in downtown Salt Lake City. My salary is $80,000 right now, which I feel is pretty solid, but I'm starting to get ...
Charlie's user avatar
  • 663
56 votes
4 answers
124k views

When a stock price rises, does the company get more money?

When a stock price rises, does the company get more money?
user avatar
55 votes
11 answers
17k views

Should I take out a loan for a friend to invest on my behalf?

A family friend of mine is an accountant and his company allows him to buy discount shares. He is asking me for $7000 to invest, and we will split the profits 50-50. I don't have $7000, but I can ...
Mirror318's user avatar
  • 719
55 votes
17 answers
15k views

Why would anyone want to pay off their debts in a way other than "highest interest" first?

Looking at the math, it is clear to many people that, given a number of debts at different interest rates, if you are trying to eliminate your debt, you will pay less interest overall if you pay off ...
Ben Miller's user avatar
  • 116k
55 votes
10 answers
17k views

Is it true that real estate prices mainly go up?

My father once told me that real estate was a good business because the population is always going up, therefore more housing is needed, and the space on earth remains the same, so house/apartment ...
SushiCraft 99's user avatar
55 votes
8 answers
10k views

Gigantic point amount on rewards card - what are potential consequences?

Recently, I asked with an online form for some receipts to get added to my rewards card (because I forgot the card when paying). However, they accidentally added more than a thousand times the amount ...
Aganju's user avatar
  • 37.7k
55 votes
12 answers
10k views

Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) ...
Daniel Benedykt's user avatar
55 votes
2 answers
8k views

Why do banks “park” their money at the European Central Bank?

I regularly read that the European Central Bank charges a negative interest rate on money that banks park there. But why would a bank put their money to the Central Bank then? Can't they just keep it ...
Martin Ueding's user avatar
55 votes
6 answers
18k views

Will I lose my paid-in-full property?

I paid cash for the land I put a modular home on which I financed. My husband is terminally ill and I am afraid I will soon be foreclosed upon. Will I lose my free and clear land which has been paid ...
user84632's user avatar
  • 519
55 votes
7 answers
10k views

What is the best asset allocation for a retirement portfolio, and why?

Based on financial conversations I've had with trusted family members, I believe that asset allocation is one of the more critical things to "get right" during retirement savings. Based on an ...
CrimsonX's user avatar
  • 3,397
55 votes
7 answers
148k views

Can't the account information on my checks be easily used for fraud?

My Bank of America checks contain my routing & account number, which I've used in the past to make purchases online, among other things. Anyone whom I pay with a check has this information. It ...
RexE's user avatar
  • 735

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