Hot answers tagged

63

Since no-one else has answered I'll convert my comments into an answer. This does have the hallmarks of a scam to me, and in your shoes I would cancel the purchase and explain to the would-be buyer that the item can only be shipped within Switzerland as stated in the listing. Apart from anything else, I've had too many mishaps with international post to ...


57

There are several issues with paying for furniture and appliances with 0% credit instead of paying with cash. When you pay with 0% credit, you might be tempted to spend more on something than you would have if you paid with cash, because it feels like free money, and you've justified in your mind that the extra you earn will help pay for the more expensive ...


53

For me, the overriding Pro is that the money doesn't leave my bank account until I want it to. For example, my daughter was in school in China, and needed to quickly buy a ticket home, which she did. But the flight was cancelled even though the charge posted to the card. If this was a debit card, the money would be gone until the airline decided to refund ...


33

The main advantages and cons have already been mentioned in other answers, and so I won't repeat them, but let me touch on a few other lesser advantages of credit cards. Credit cards protect against theft If someone steals your credit card from you it's a nuisance, but only a nuisance. Credit card companies won't charge you for fraudulent purchases made on ...


24

In Germany there is a somewhat popular schema that roughly translates to triangular fraud. The fraudster sees your auction and buys the item for price X. He will then immediately create an auction "selling" a valuable item that he does not posses for price X. He will then tell his buyer to transfer the money to your account. You'll see incoming money and ...


20

A "stock price" is nothing but the price at which some shares of that stock were sold on an exchange from someone willing to sell those shares at that price (or more) to someone willing to buy them at that price (or less). Pretty much every question about how stock prices work is answered by the paragraph above, which an astonishingly large number of people ...


20

First off, I have to say "rent, gas, electric, internet: 20%" is phenomenal, do everything in your power to keep this at that % for as long as possible. Then, given the safety nets that are standard for most European countries, a large amount of savings isn't required. Unless that is, if you need a lump sum of money for a significant investment (real ...


18

Pros: A CC can be very convenient when travelling, especially to the US or other "credit card countries". A CC can be the only way to pay online for certain services, mainly from companies outside the EU. Your purchase might be better insured using your CC. (But chances are your bank or personal insurance already covers you, check first). Cons: Small ...


13

Read the terms and conditions very carefully. Many zero percent deals have a requirement that you pay back at a certain date, and if you don't, you'll have to pay some enormous percentage. Nobody will remind you of the date, because the lender has the secret hope that you will forget.


10

Bank transfers certainly are reversible. Just as one example, imagine this. The person hacks someone and transfers the money from the victim's account. Does the victim get to reverse that charge? Of course. Does it clawback out of your account? Oh, you bet! You will be left holding the bag. So one common scam is to do exactly that, then convince ...


10

In the EU the main difference is that "some" debit card are debits. They can't be used for online payments. For the EU - "credit history" don't exist. Some countries have private companies that gather info about "bad credit" and that's all. Some countries have general database of financial commitments that "credit lender" can check and counter with ...


9

First of all, congratulations on saving some money. So many people these days do not even get that far. As far as investments, what is best for you depends heavily on your: Risk Tolerance (how much risk you are willing to accept, which you mentioned was Low in your question Time Horizon (how long you're willing to tie up your money in the investment), and ...


9

The question is asking for a European equivalent of the so-called "Couch Potato" portfolio. "Couch Potato" portfolio is defined by the two URLs provided in question as, A 50:50 allocation of assets between a long position in an stock fund; and a long position in a fixed-income index fund. Holding these two long positions for five years at a minimum, and ...


9

Member mhoran's comment was an answer. why not just invest with any of the dozens of mutual fund companies that have an S&P 500 index fund or ETF? The ETFs are more commonly not leveraged. Of course, some are, so you'll avoid those. But the ticker SPY is the most popular one and it reflects no leverage at all. You get the return of the S&P ...


9

Contrary to the given answers I think you can make the sale provided you have a shipping option with proper tracking. First, not everybody has a paypal account but (at least in Western Europe) everybody has a bank account. Direct wire transfer is a generic form of payment in the EU that works between any two people, paypal is not. Especially if the ebay ...


9

You asked, Are banks in the EU allowed to charge fees for having too low of a balance? I'm not asking about overdraft fees like 20% annually for how much below zero your balance is. I'm asking about either non-relative charges (like 20 EUR for having a balance below 100 EUR or below -1000 EUR) or charges for a balance that's low but not below zero (like ...


8

I don't believe there is any particular structural or financial reason that outgoing wire transfers cost so much in Canada, their costs are no higher than other countries (and lower than many). Wires seem to be an area where the Canadian banks have decided people don't comparison shop, so it's not a competitive advantage to offer a better price. The rates ...


7

As a non-resident, you need to file a form 1040NR in any year that you have a distribution (withdrawal) from your HSA. From the Instructions for Form 1040NR, Who Must File: You also must file a return if you received HSA, Archer MSA, or Medicare Advantage MSA distributions. You file a form 8889 with your 1040NR, and on that form you report how much ...


7

A friend recently bought an 800€ TV on 0% financing. Sounded like a sensible thing to do. Why pay 800 when you can pay 80pm for 10 months? It took 30mins to set up the 'loan'. She had to sign all kinds of documents, giving away much personal information (age, employment info, income, email address etc). She now has a financial relationship with an ...


7

We don't have a good answer for how to start investing in poland. We do have good answers for the more general case, which should also work in Poland. E.g. Best way to start investing, for a young person just starting their career? This answer provides a checklist of things to do. Let's see how you're doing: Match on work pension plan. You don't ...


7

If you have only EU/UK tax residency, you can buy any ETF with "UCITS" in the name - those conform to the new consumer information regulations. I gather that the expense ratios often aren't quite as favorable as the US domiciled ones, but I would do it anyway. Here are some that track the S&P 500: https://www.justetf.com/gb-en/find-etf.html?assetClass=...


7

As nearly everything, it has pros and contras. The benefit of having two assets is to be more diversified. If you have a tenant which ruins your property, and it is your only property, you are in a bad situation. If "only" one of two assets you own is affected, it is still bad, but not so bad as in the other example. On the other hand, as was already ...


7

One of the reasons I don't see listed here is that for certain types of transactions you may need to reserve a large amount of safety deposit, which is convenient with credit card and might be difficult or impossible with debit. I was in the situation recently when I tried to rent a car for my vacation in UK. The calculated safety deposit the car company ...


6

In the United States, the Fair Housing Act and the Americans with Disabilities Act (ADA) prohibit discrimination based on health problems. It doesn't matter how old you are or what health problems you have. Realistically, if you die, most likely the mortgage lender will be paid in full from the sale of the home or other assets or they get the house. ...


6

Summary: the fees used to differ but no longer do. Fees are the same. If you have a personal account, feel free to upgrade it to premier to get access to more features. Longer answer: the two account types USED to differ but that changed a few years ago (maybe circa 2011?). PayPal wants person-to-person payments to be free (except where they must pass along ...


6

This answer is assuming you're in the US, which apparently you're not. I doubt that the rules in the EU are significantly different, but I don't know for sure. In case of an IRS control, is it ok to say that I regularly connect remotely to work from home although in the work contract it says I must work at client's office? No. Are there any other ...


6

This is not allowed, and there is a name for it: IBAN discrimination. Searching for that term will give you some pointers what to do about it. The EU regulation that prohibits this is 260/2012, article 9, paragraph 2: A payee accepting a credit transfer or using a direct debit to collect funds from a payer holding a payment account located within the ...


6

For almost all, the correct way to invest is to invest a certain percentage into stocks and a certain percentage into bonds. Given your young age, if you don't need the money for the next 10-20 years, 100% stocks or let's say 90% stocks / 10% bonds would be good. If you might need some of your money in few years, 50% stocks / 50% bonds could be a good ...


6

Or can I just walk into my local bank? Yes, you would usually approach your bank. However, you wouldn't just "walk in", you would ask for an appointment with a financial advisor. Will a bank take me (a 20 year old university student with 2000 euro in excess savings) seriously? Of course they will. Most people pick their bank at your age and then stick ...


6

FWIW, you unwittingly laid a trap by setting up your question the way you did, and half of your responders fell into it. How much you're spending on what right now is completely irrelevant. So are your current assets, because they're so small. Current debt is marginally relevant. The only questions that drive the "Financially Independent"/"Retirement" ...


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