D Stanley
  • Member for 10 years, 1 month
  • Last seen this week
Can I become debt free or should I file for bankruptcy? How do I manage my debt and finances?
Accepted answer
164 votes

Can I be debt free or should I file bankruptcy There's no reason to file bankruptcy with $64k in debt and a $80K net salary. You can get out of debt in 1-2 years if you're willing to sacrifice. The ...

View answer
What to do if I can't trust myself with monthly wages?
Accepted answer
162 votes

Not sure if you can do this at your bank, but here's how I would do it at mine: Set up 2 accounts - an account with limited access (do not order checks or an ATM/debit card) and a second checking ...

View answer
How is early-and-often home buying as "get rich" advice feasible?
136 votes

How do you buy 1 house a year? You save up the money you make from the rent for a down payment on the next house. Then you save up the money from those two houses and buy two more the next year (or ...

View answer
Why do real estate agents always ask me whether I am buying property to live-in or as an investment?
Accepted answer
122 votes

I like the existing answers, but I'll add another thought: They want to know if you're looking for a house that you like or want one that is a good bargain. Investors will buy a house that they ...

View answer
Is US health insurance just a terrible deal overall for a healthy young adult?
112 votes

The goal of the health insurance decision is probably the same for everyone: Get a reasonable amount and quality of healthcare services for the lowest total cost. I'd disagree with that goal. The ...

View answer
Someone wants me to use my credit card at a card-only gas/petrol pump in return for cash
110 votes

In my experience scammers are actually trying to get cash, not goods, so it's possible, but I don't see an obvious play. Some possibilities that come to mind: She takes off before giving you the cash ...

View answer
Is life insurance a financially sound safety net?
Accepted answer
109 votes

as a safety net for emergencies, is purchasing life insurance a practical investment? Life insurance is not an investment. It is a necessary expense if anyone depends on your income. You should ...

View answer
When is it better to move - before or after a housing bubble bursts?
Accepted answer
108 votes

If you're moving up in house in the same area, it's better to wait until the alleged bubble bursts, since bubbles affect higher-prices homes more than lower-priced homes. You could also sell now and ...

View answer
What does it mean for the price of oil to be negative?
Accepted answer
105 votes

These are futures contracts that expire on 4/21, which means that if you hold a futures contract at the end of the trading day tomorrow (April 21st), then you are obligated to "purchase" 1,...

View answer
How does a bank make money on an interest free secured loan?
Accepted answer
100 votes

A "true" 0% loan is a losing proposition for the bank, that's true. However when you look at actual "0%" loans they usually have some catches: The interest actually accrues at some rate but is not ...

View answer
Am I right to believe this online car-purchase opportunity is a scam?
Accepted answer
89 votes

Can I continue with the transaction, This deal violates at least three of Autoscout24's warnings when buying a car: "Too good to be true" If you should come across a bargain that is far ...

View answer
What is the correct answer for percent change when the start amount is zero dollars $0?
Accepted answer
84 votes

There is no numerical convention in finance that I have ever seen. If you look at statements or reports that measure growth when the starting value is negative or zero, you typically see "n/a" or "-" ...

View answer
What stops you from using fixed income in developing countries?
80 votes

assuming the currency value with respect to USD stays stable in that year. This is where your analysis breaks down. The fact that the foreign bond pays a higher interest rate indicates that the ...

View answer
Numbers in parentheses in financial statements?
Accepted answer
80 votes

It means the number is negative. It's an alternate way of showing negative numbers versus prefacing with a negative sign (-) In some cases, a negative value also has a different name. For example you'...

View answer
Should I buy my house in cash, or with a mortgage and invest the rest of my money?
80 votes

I think you have a misunderstanding in point 2: Effectively, the cost of the mortgage in the first year would be much higher than the nominal ~3.5 percent interest rate of the loan. No, the rate ...

View answer
Borrowing money in one country to pay off debt in another
Accepted answer
79 votes

Logistics of borrowing in a different country aside, financially if the reason the interest rates are higher is because inflation is expected to be higher, you might be trading smaller interest ...

View answer
Is a higher salary worth not having a 401(k)?
Accepted answer
78 votes

From a long-term planning point of view, is the bump in salary worth not having a 401(k)? In this case, absolutely. At $30k/year, the 4% company match comes to about $1,200 per year. To get that ...

View answer
Why did I lose 2 cents more than the difference in the stock prices on my Robinhood trade?
Accepted answer
77 votes

Free, huh? From their Commission and Fee Schedule: So if you literally bought two shares, then the SEC added one penny in fees and FINRA added one penny as a "Trading Activity Fee" Note that there ...

View answer
What are the biggest pitfalls to avoid with student loans?
Accepted answer
75 votes

(This answer is based on the article you linked in the comment, but could probably apply in general as well) What re-payment detail are people overlooking? There are not many specifics in the ...

View answer
Parent asking for money after I moved out
74 votes

I have no problem with you helping your mother but only under the following circumstances: You have enough room in your budget to help out. You should not go into debt or sacrifice your necessities ...

View answer
Why invest in becoming a landlord?
Accepted answer
71 votes

why does it make sense financially to buy property and become a landlord? Because then your investment generates cash instead of just sitting idle. All taxes, fees and repairs aside it would take ...

View answer
What does "gold reserves" on a gold mining company's balance sheet mean?
Accepted answer
69 votes

For gold mining companies, the amount of gold that the company has access to but has not yet been mined is accounted for in "reserves". The company can claim a percentage of those reserves as assets, ...

View answer
What are some effective ways to help someone financially?
68 votes

Here's some tenets I follow when helping others: Don't support bad habits Don't give money to someone to pay gambling debts, or to pay rent because they've spent all of their money on less important ...

View answer
How do car leases work?
Accepted answer
64 votes

Leases are effectively renting a car for 2-4 years. You pay a fixed monthly payment (typically after a substantial upfront payment as well) to the leasing company in exchange for the right to operate ...

View answer
Spouse wants to pay all debt in a month but I don’t. Is this a good idea?
64 votes

Look at how much interest keeping that mount in cash is costing you. At 5% interest, that's $200 a month wasted in interest payments just for the peace of mind of having cash in the bank. I agree ...

View answer
How can a high school student value a possible degree?
Accepted answer
62 votes

college is valuable even if we don't get a high income Absolutely! Any education is valuable in some way. Not all are valuable economically, though. A degree in sociology that enables you to work in ...

View answer
Stock market long term risks
Accepted answer
62 votes

Look at the complete 90-year history of annual S&P 500 returns. The worst year in history is 1931, which was down 47% during the heart of the great depression. In the last 40 years, the market has ...

View answer
Would simplistic date / amount / description bookkeeping "cut it" legally?
61 votes

If you're not comfortable "filling out tax forms" then hire a Certified Public Accountant (CPA). Depending on how easily they can convert your records to actual income statements, it may not ...

View answer
Buy home and leverage roommates, or split rent?
61 votes

what I should think about. How much cash can you put toward a down payment? Anything less that 20% will significantly raise your mortgage amount. What if your roommates decide that they want to move ...

View answer
Options for paying for a nonreturnable leased vehicle
Accepted answer
60 votes

Unfortunately this is going to land in her mother's lap. Since she is a cosigner on the lease she is just as responsible as your girlfriend for paying the return value. Both of them would have to ...

View answer
1
2 3 4 5
59