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

Step 1: Start saving like you said you would. You said you could stop spending, and start piling up your paychecks into your bank account. Start doing that now. Step 2: Become an authorized user on ...

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My parents claim they cannot pay for my college education; what are my options?
54 votes

It seems everyone has left one conspicuous option unspoken: Don't go to college. Let me be clear. I am not saying you should not go to college, but it is important to remember that not going to ...

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What is the purpose of budgeting if all I need to do is look at my bank/credit card statement?
33 votes

I'm going to provide an answer that is somewhat of a devil's advocate. Disclaimer: I personally don't have a budget beyond some very loose guidelines (e.g. always spend money carefully, and never ...

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Math Behind Buying a House
4 votes

I actually did a very similar calculation recently, and I think it is a good exercise. It is difficult to be precise, but useful to get a general idea to help with your decision. Here is the general ...

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Isn't "I bought [blank] as a tax writeoff" complete nonsense?
3 votes

I think this is similar to any other time you might take action to lower your taxable income, like putting more into an IRA or 401k. For me, the biggest reason I might want to lower my taxable income ...

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How to do Taxes on Cryptocurrency Profits/Losses
2 votes

Taxes would be applied the same way as gains/losses on stocks. As soon as you sell your cryptocurrency, it will become subject to capital gains/losses. Whether it is short term or long term depends on ...

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What percentage of yearly gains on an index mutual fund is lost on tax?
1 votes

First of all an IRA is a type of account that says nothing about how your money is invested. It seems like you are trying to compare an IRA with a market ETF (like Vanguard Total Market Admiral VTSAX)...

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Is a Roth IRA good for a high schooler?
0 votes

There are a couple of options for you with nearly equal value. It mainly depends on your goals, but the differences in outcome are minimal. Are you attempting to get a head start on retirement? Are ...

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