Is keeping a credit card with a fee open worth the positive impact on credit score? (due to age of account)

If you answer with your gut, then it's probably not worth paying money (year after year) for the sole purpose of slightly increasing your credit score.That being said, you might be able to figure out the answer mathematically. If canceling the card drops yo

Buy or sell futures contracts

Buying (or selling) a futures contract means that you are entering into a contractual agreement to buy (or sell) the contracted commodity or financial instrument in the contracted amount (the contract size) at the price you have bought (or sold) the contract on the

Should I choose to pay off my student loans or save?

If you have no savings, save until you have 3-6 months of expenses. You should always try to have that available if possible, in case you lose your job or have a major medical emergency in the family or similar.Then, once that is done, pu

Buy 2nd house vs investing?

I can't speak for the UK, but renting a house in the US is effectively a part-time job. There are management companies that can take care of most of this burden, but they generally cost about 10-15% of the rent, plus you'll need to pay for any maintenance or other e

Live off of $100k in savings for as long as possible

The terms you have set are on the edge of possibility with luck and much sacrifice, but definitely not recommended. You will have a meager existence at best.The MIT-estimated poverty wage (no

How would a mortgage lender evaluate an existing private mortgage with no monthly payments?

Unfortunately (in the US) I think the answer is (unfortunately), in this day and age, "not a chance in hell". :/They literally wouldn't even be able to enter your case in the system.In the "old days" and in movie

How do tax payers have to pay for the tax deductions someone else receives due to a charitable donation?

While I do understand, that the government loses money in tax incomes, I don't understand how this directly increases the tax burden on other tax payers (except for, in the long term, the government might raise taxes to make up for lost tax revenues).

Why do most companies have debt and are there any companies without debt?

Debt is not always bad, no. Debt allows companies to expand or provide services in a way it could not usually even if they are healthy. Consider a mortgage. Most people are unable to come up with the cash to buy a house outright yet are quite capable of servicing

Sending money to friends via Amex with PayPal UK

You can transfer money to friends and family this way, and Paypal don't charge any additional fees, but Amex treat this as a "cash advance" and hence charge higher fees / interest on it and it is not eligible for cashback.Source: I am in t

Foreign tax credit does not seem to prevent double taxation

(This is what I've been able to understand from doing this tax form for several years. Not tax advice ....)In the calculation in your Update:(foreign_income / total_taxable_income) x (tax+18984.50)=(10,000/197600) x (44247+18,984.50)=3199.97y

Once stock prices are down, where to look for good stock market deals?

Indexes are down during the summer time, and I don't think it has something to do with specific stocks. If you look at the index history you'll see that there's a price drop during the summer time. Google "Sell in May and go away".The BP was cheap

Comparison of cash concessions vs lower home purchase price?

I found this article to clarify some of the issues. One point raised is that the concession can be thought of as getting tax exemption for the

What should I consider when I try to invest my money today for a larger immediate income stream that will secure my retirement?

I don't think you should mix the two notions. Not starting out with at least. It takes so much money, time and expertise to invest for income that, starting out at least, you should view it as a goal, not a starting point.Invest now to retire later

Historical company performance data

For free, 5 years is somewhat available, and 10 years

Looking for a good source for Financial Statements

If you're researching a publicly traded company in the USA, you can search the company filings with the SEC. Clicking 'Filings' should take you here.

Advice on strategy for when to sell

I bought 1000 shares of a $10 stock. When it doubled, I sold half, no need to be greedy. I watched the shares split 2 for one, and sold as it doubled and doubled again. In the end, I had $50,000 in cash pulled out and still had 100 shares. The shares are now worth $

Events that cause major movement in forex?

Anything related to the central bank will have a large impact, as they are the ones who determine interest rates, and interest rates have a big effect on currency flows. GDP is also important, as when there is an economic slowdown it may result in the centr

What is the difference between a scrip dividend and a stock split?

Firstly a stock split is easy, for example each unit of stock is converted into 10 units. So if you owned 1% of the company before the stock split, you will still own 1% after the stock split, but have 10 times the number of shares. The c

Best practices for bringing cash from US to Germany

You may want to look at services like https://transferwise.com/. For transferring money abroad they may be cheaper than you own bank. Here is a list of similar services:

which types of investments should be choosen for 401k at early 20's?

I can't find a decent duplicate, so here are some general guidelines:First of all by "stocks" the answers generally mean "equities" which could be either single stocks or mutual funds that consist of stocks. Unless you have lots of experience that

Is it ok to buy something on your credit card due date?

You are able to use your credit card at any time. Which cycle it shows up on depends when the charge gets processed on your card.Say a charge goes on your card just before a cycle closes, once the cycle closes, the total amount is tallied up, and a bill is

Skipping the last rent payment?

In the USA:If you have a contract stipulating 20 days notice, then your landlord can pursue you legally, which can damage your credit, assess late fees and fines, etc. I'd examine your contract thoroughly before deciding not to pay. The only caveat on this,

Tax advantage of FSA reimbursement vs. FSA direct payment

If I pay upfront using after-tax dollars, then get reimbursed using FSA pre-tax dollars, am I actually gaining anything?You are paying upfront with your personal finances (using after-tax dollars), but then you get reimbursed th

How to keep track of revenue and expenses of a small business that I rarely visit?

Like D Stanley said, hiring the accountant in charge of the business/restaurant is likely the best you can do if you don't wantto visit it often. But since it is a small business, maybe your friend is going to do the accounting by himself

Where people invest during stock market crash (USA Q4 2018 crash)?

There is no money, and it doesn’t go anywhere. A company’s market cap is just the market’s opinion of what it’s worth. That opinion changes all the time, but no actual money is involved. Money only comes into it when shares (or derivatives) are actually bought and s

How to know if negative cash flow rental property is a good investment?

First, to get approved for another mortgage your debt to income ratio typically has to be lower than 43%. So, to get a 150k loan with your current mortgage you'd need to be at around $7,500/month gross income not counting your 60k debt, if for example your monthly p

How to put my PhD in mathematics to good use in stock trading

My goal is to pursue a freelance career as a quantitative analyst on the side and slowly transition into mathematical finance as my area of research. The end goal is to still continue publishing papers (which is what my university requires of me

How is leasing a car beneficial to the one who leases?

It's all about circumstances, but generally leasing a car only benefits the sales person. But there can be mutual benefits.If you're the kind of person who must be seen in the latest model of car, then leasing can be great as every 2 years you just pass it

What are the implications of employer increasing allowances on W-4?

If your withholdings have gone up, then you have been paying too little tax and might be in danger on an underpayment penalty (or at least a large tax bill when you file). Your employer's share is not dependent on your allowances (their share is for medicar

Found some land for lease online, leasing agent won't tell me the price

Not giving you the price per square foot seems weird, but the questions seem entirely normal. They want to make sure that a) you can pay the rent, and b) won't be using the land for something that will expose them to liability: meth lab, toxic waste dump, fireworks

Why not "have too much available credit" on your credit card?

In the US, at least, that WAS true, but doesn't seem so anymore.https://www.creditcards.com/credit-card-ne

In what ways is the NFT marketplace different from the stock market?

NFTs provide artificial scarcity in a market where the assets can be perfectly duplicated.Consider an original oil painting. It is virtually impossible to perfectly duplicate one, down to the brush strokes and amount and type of paint used at each p

Understanding S&P 500 profit

If the value of a stock goes up by 50% then the value of your investment also goes up by 50% as long as nothing else changed. You didn't buy more shares, you didn't sell any shares, or there were dividends.This is also true for mutual funds and ETFs. This al

How does tax-deferred pension savings carry any long-term benefit over taxable accounts?

These two are the same. Then, why does choosing tax-deferred make anydifference?If the tax rates are different then, the two situations aren't equal.If the rate will be lower in the future then put your money into pre-tax

I turn 18 in a month, what should I invest in?

At this stage of the game your best investment is yourself. Rather than putting it in stocks, use any spare money you have to get yourself the best education you can. See if you can drop that part-time job and give yourself more time to study. Or maybe you can go to

Canceling credit cards - insurance rate increase?

You don't need to have a bunch of credit cards lying around; just a couple is fine. Get a "rewards" card (without annual fee) that pays you back for use, and use it regularly to buy groceries, for example. Pay it off promptly each month, using the rewards, if you li

Why does it seem unnecessary to fully save for irregular periodic expenses?

Another way of explaining the puzzling balance:Right after a particular bill is paid, you have $0 saved to pay that bill the next time. Just before the bill is next due, you wisely have the whole amount saved; that's the purpose of the whole process. So,

How to hedge an adjustable rate mortgage to lock in the current rate for the whole loan duration?

Spreadsheets are your friend.You don't offer the dollar amount, so I'll offer $100,000 and you can scale it up to your numbers. $100,000 at 3% requires a payment of $421.60.Instead, pay $477.42, the payment that 4% would require. Now, 10

Is buying foreign currency(specifically Pounds) a good saving/investment strategy? If so(or not) why?

Maybe. It depends on the currency you are using to buy the GBPs. If you are buying them with Venezuelan Bolivars, then it will likely be an outstanding investment. If you are using USDs or Swiss francs, maybe not. What you are really doing is simply specula

Calculating Average Rate of Return

You've flipped the numerator and denominator around, and need to multiply by 100 to get percentage rather than 10:((($14,567 - $10,000) / $10,000 ) / 9) * 100 = average 5.07%I like to use a simple example to assess reasonableness

Cashing a cheque on behalf of someone else

It's possible to cash cheques by post. When I did this, it involved filling out a "paying-in slip" (I had a book of these provided by the bank) and posting the cheque together with the slip to an address provided by the bank. You could also bring the paying-in slip

If my haircut is already very expensive, say, $55 dollars, do I still have to pay 15-20 percent tip to the hairstylist?

Separating this question into two pieces, as it's really two separate things.Is it okay to not tip for something that is expensive, when tipping is customary?In general, no. Tipping is separate from paying for the item, in particular

Should I get a financial advisor?

Some of the best advice I heard is that people have two jobs: The first is their chosen career, the second is to manage their own money. An important part of managing your own money is decide upon goals. Do you want to do the standard work for 25-40 year

What are stock trading strategies that have a positive expectancy?

Buy index funds with the lowest practical expense ratio. My reference is John Bogle's seminal work, Common Sense on Mutual Funds. If you want it to be more compli

Can a rent increase with RPI value be enforced retroactively?

It doesn't sound like the rent increase needed to be "proposed", it sounds like you already agreed to it in the lease. It is in place.Therefore your payments have been short.You can make an argument that you relied in good faith on the pa

Buying the dip & Staying invested -- how do you follow both at the same time?

You can achieve both outcomes by having a portion of your portfolio allocated to fixed income, this will lower the volatility of your total holdings without sacrificing too much expected return. When the inevitable dip occurs you can/should rebalance your portfolio

Paying Credit Card After Cash Back Credit

Yes, you're required to pay the Minimum Payment Due. However, you're never required to pay more than the actual Balance Owed. This may not make sense in the Internet age. But the concept of a Statement Ba

Downside of having a zero-interest loan for long time

If you have a zero interest rate, then the only reason to pay back a loan sooner than later is if you expect a negative inflation rate. If you suspect that the inflation rate of your currency will go negative in the future, then having a loan is bad because even tho

How do market makers profit from the bid-ask spread when bids are almost always lower than asks?

This income comes from fact most people don't want to wait and just buy/sell on current price. While market maker is ready to wait and buys/sells on a better price. Here is a simple example:1) MM puts BUY MSFT@$100 order - he is ready to buy

Do companies destroy value when they borrow to pay dividends?

Borrowing money and paying out dividends are separate events. Paying out dividends decreases stock price. Whether the dividends "came from" borrowing is somewhat incoherent; money is fungible. So the only question is whether borrowing destroys value, not w

Does the benefit of a HDHP with an HSA disappear if the premium is the same as a PPO plan

The cost of the premium certainly affects how beneficial a plan is.HDHPs have two big advantages over traditional PPO plans:Lower premiums, because the deductible is higher:Access to the HSA, a tax-free saving account.I

How would skipping a bill affect my credit history?

One data point: I screwed up and simply missed one $25 bill for one month, I paid it the next month. I took about a 50 point hit from it. There are several issues involved. They include 1) "missed" payments, 2) NON payments 3) severity,

For which kinds of products does a generic brand tend to be just as good as a name brand?

Clark Howard talked about a Consumer Reports' test on the subject. Here is his summary: Consumer Repo

How are shares used, and what are they, physically?

Shares used to be paper documents, but these days they are more commonly held electronically instead, although this partly depends on what country you're in. But it doesn't make any significant practical difference. Regardless of their physical form, a share simply

Using Loan to Invest - Paying Monthly Installments with Monthly Income

The best strategy? Skip the loan.Find a way to invest for a low starting amount via a retirement account (such as a 401K or IRA in the United States) or non-retirement account. Use this money to buy individual stocks or funds.Every month put money

ISA trading account options for US citizens living in the UK

This sounds like a FATCA issue. I will attempt to explain, but please confirm with your own research, as I am not a FATCA expert.If a foreign institution has made a policy decision not to accept US customers because of the Foreign Financial Institution (FF

Cheapest way to wire or withdraw money from US account while living in Europe

I prefer to use a Foreign Exchange transfer service. You will get a good exchange rate (better than from Paypal or from your bank) and it is possible to set it up with no transfer fees on both ends. You can use an ACH transfer from your US bank account to the FX's

Does a 2EUR monthly fee make credit cards useless?

How does 2 EUR compare to how much you would otherwise spend using the card?If you barely meet the 77 EUR threshold, you are paying 2/77=2.5% extra charge. If you typically put 1000 EUR on your card, it's an extra 0.2%, probably trivial.Are the ben

Is it wise to buy a car in a high inflation rate?

A high inflation rate suggests that you are better off buying a car today rather than waiting for tomorrow, when it will be more expensive. That said, the biggest question would seem to be if you need a car. If you would not buy a car on your own until yo

Why is "low interest rate" an argument for buying property?

When rates are low, real estate agents will push sales with this tactic. They would claim that if you wait t