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united states - Is this claim fraudulent: "I Can't Believe
When I browse the Motley Fool Website, I see an advertisement that says "I Can't Believe This $16,728 Social Security Bonus Was So Easy", and it seems a fraud. Does any one on this forum have
Actived: Monday Dec 9, 2019
united states - Deductible expenses paid with credit card
Then, you pay off the debt incurred. Under the cash basis of accounting, when you can deduct an expense is based on when you paid for the expense, not when you eventually pay off any resulting debt arising from paying for the expense. Admittedly, "cash basis" isn't a great name because things don't solely revolve around cash. Rather, it's when
Two high-interest loans: Pay down one at a time, or split
Two high-interest loans: Pay down one at a time, or split my money? Ask Question Asked 3 years, 5 months ago. Active 3 years, 5 months ago. However, if you care less about the cost than about sense of progress, paying off the smallest first will most quickly reduce the number of loans;again repeat until complete.
Is it better to spread debt out on multiple credit cards
Paying off regularly always increases your credit score. If you ever get your credit checked (which lowers your score) which can happen by applying for a new cell phone, renting a car, applying for a job, instant approval store credit - then paying off a minimum on another line of credit will offset that credit check.
Should I pay off my HELOC or continue to save/invest
I'm closing as a duplicate, although I disagree with the accepted answer. I had given basically the same answer as the highest-voted answer but deleted it to close as a duplicate. Pay off the HELOC as soon as you can, saving a little for an emergency fund if you wish. – D Stanley Sep 28 '17 at 22:22
debt reduction - mortgage vs car loan vs invest extra cash
Reading personal finance advice, it seems they generally say first pay off all debt except a mortgage and then either save more for retirement or pay off the mortgage. But my mortgage has a higher interest rate than my car loan (3.1% apy vs 1.9% apy) and I'd generally think I should pay off the highest interest debt first.
Should I sell my stocks to reduce my debt? - Personal
Simply put, the interest you're paying on your loans is eating into any gains you have in the stock market. So, figure out how much you're paying in interest and consider the feasibility of paying off some of the loan. Also figure in if you would be selling the stock at a profit or a loss.
new car loan vs use mortgage loan to pay for car
new car loan vs use mortgage loan to pay for car. Ask Question Asked 4 years, 7 months ago. Also, I can't think of any way you'd be able to use the car loan to pay off the mortgage. You wouldn't be able to borrow more than the car is worth, and for a new car it loses quite a bit of value immediately.
Do I end up richer paying down a mortgage or contributing
Paying off the mortgage sooner will free up a large portion of your cash flow, which you can then focus on putting into your IRA, 401k, or even a regular savings account. Or just for spending on toys or vacations.
Should I pay off zero interest debt early? - Personal
I happen to be in a free Dave Ramsey class, and a question came up. Should I pay off the zero interest debt before finishing my emergency fund? If so, why? My inclination is to finish accumulating my emergency fund first. The only substantive argument I can see to pay early is an emotional one: it's appealing and secure to have zero debt.
united states - 15 year mortgage vs 30 year paid off in 15
15 year mortgage vs 30 year paid off in 15. Ask Question Asked 4 years, 9 months ago. Active 4 years ago. Viewed 65k times 90. 19. I've found similar questions, but they all seem to focus on a preexisting 30 year mortgage and whether or not it makes sense to refinance to a 15. My question is a bit different.
paying with cash vs. paying by loan and investing the money
His suggestion was that even if you have enough money to buy a car with cash, you would better get a loan, invest your money and pay your rates with the interests you get from your investment. When your car is payed off, you will still have the invested money that keeps generating passive income.
limited liability company - Repayment of loan I made to my
Repayment of loan I made to my own LLC. Ask Question Asked 3 years, 3 months ago. Active 2 years, 1 month ago. Viewed 9k times 2. I loaned $60,000 to my own single owner LLC over the past 6 moths to pay for start up, salaries, rent and business expenses to get it started. It is now moving towards profit and can afford to start paying back that
united states - What is this option offering me on my loan
I've clarified what I mean by "least amount off over time", which admittedly was not clear (or even correct) - I'm aiming to pay the least amount of money total, which means minimizing my interest accrued over time.And I've clarified that this is a loan that I already have and am paying off - despite the wording on the page shown, I have been paying this loan off for years.
Paying Off Principal of Home vs. Investing In Mutual Fund
Paying Off Principal of Home vs. Investing In Mutual Fund. Ask Question Asked 8 years, 2 months ago. Active 1 year ago. Viewed 5k times 31. 11. I close on my first home October 21. I've locked in a 4.330% APR on a 30-year fixed conventional mortgage and my payment will be ~$800/month. I've put the required 20% down to avoid paying PMI.
retirement - Paying off mortgage or invest in annuity
Should we invest in annuity or pay off the mortgage? The annuity has a 5% guaranteed with 3% fee. I have ss 1525.00 and pension 1275.00 he has 2300.00 pension. We live in New York. Should I use my 401. $105000 monthly or use cash saving till I reach 65. Thank You
What is the formula for loan payoff with daily compounded
What is the formula for loan payoff with daily compounded interest and monthly payment? Ask Question Asked 4 years, 5 months (or Principal) I'd use to pay off this loan at this rate? loans interest payment amortization principal. share | improve this What would the formula for loan payoff with daily compounded interest and paid 5 days
united states - paying off an auto loan versus Roth versus
3) Killing off the "buy now, pay later" mindset will result in long-term financial benefits. Stop paying interest on things that go down in value. Save up and buy them outright, and invest the extra money into things that generate income/dividends. This is a good long-term habit to have.
Is sales tax for online purchases based on billing- or
Is sales tax for online purchases based on billing- or shipping address? Ask Question Asked 8 years ago. Active 6 months ago. Viewed 42k times 13. 1. My question is simply clarification: when I make a purchase online, is the sales tax applied based on my billing or shipping address? Possibly
real estate - Sell or keep rental Property? - Personal
How is the current mortgage payment broken out? I have a mortgage on a rental property with a payment of $775, but $600 is principal. If I were at breakeven on a sale or a bit underwater, I'd be better off just holding still, the tenant paying the loan down over $7000/year.
Pay off credit cards in one lump sum, or spread over a few
Pay off credit cards in one lump sum, or spread over a few months? Ask Question Asked 6 years, 10 months ago. Active 2 years, 6 months ago. Viewed 17k times 4. I am doing a refi + cash out on a rental home. The cash out is to pay off ~24K in credit cards. I am aware of secured debt/unsecured debt and how it is often not a good idea to refinance
mortgage - Why do banks want you to pay off interest
The way it works is that you always pay off interest first, and then any excess goes to pay off the principal. However early in the mortgage there is more interest, and so less of the payments go toward principal. Later in the mortgage there is less interest, so more of the payments go to principal.
united states - Is it better to pay off a loan with a
If you pay off the $15,000 5% loan first, you end up paying less than $73,500 total. Not a huge difference, but I wouldn't argue with an extra $600, even amortized over eight or so years (that extra $200 takes almost two years off the overall lifetime of the loans).
security - Is it a good idea to scrape away my credit card
If you would like to scrape the security code off the back of the card, there is nothing stopping you. However, it may hurt the usability of the card, and you won't be gaining as much security as you might think. The purpose of the security code has been discussed in another question, but basically, it is there to prove that you have the physical card in your hand in cases where it is
Should we pay down our HELOC or pay extra towards our
Should we pay down our HELOC or pay extra towards our mortgage? Ask Question Asked 7 years, 3 months ago. Active 1 year, 6 months ago. My wife thinks it's best to pay off the credit card, pay the minimum on the HELOC and pay extra towards the mortgage and take $10K and put it into the mutual fund.
savings - Should I pay off HELOC or save? - Personal
Pay off the HELOC and IF an emergency happens, take money from your HELOC to pay it. Even in the unlikely event that the emergency is something they might force closure of the HELOC for, take the money out of the HELOC as soon as it happens. Under no circumstances do you end up worse off with this route. – DJClayworth Mar 17 '11 at 16:31
debt - Should I pay off a 0% car loan? - Personal Finance
The question posted was, "Should I pay off a 0% car loan"? The poster provided a few details: 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 earns 2% interest?
canada - Bigger mortgage downpayment vs. paying extra on
But also see KeithB's answer for the trade-off here. That's assuming a US mortgage, which is different from Canada. I ran the same numbers using this calculator from RBC and came up roughly the same amount. (I find the first calculator above much easier to use, if you aren't worried about losing a little precision in the numbers.)
loans - Pay off car or use money for down payment
Absolutely do not pay off the car if you aren't planning to keep it. The amount of equity that you have from a trade in vehicle will always be a variable when negotiating a new car purchase. By applying cash (a hard asset) to increase your equity, you are trading a fixed amount for an unknown, variable amount.
Temporarily reduce 401k contributions to help save for a
Suspending your contributions for 1 year starting now knocks more than 150k off your nest egg. Suspending for two years knocks it down by more than 300k. I encourage you to download the spreadsheet as excel and play with it.
Credit score and paying my balance before the closing date
I am an absolute newbie to this, so I could use a lil' help! I want to know if I should leave the balance until after the closing so that my balance gets reported, and then I pay it before the due date to avoid interest; or if I just pay it off right away and my score is the same as if I did so after closing. I don't know the process.
Why are monthly mortgage pre-payments applied to the back
Why are monthly mortgage pre-payments applied to the back-end of the mortgage? Ask Question and the entire loan will be paid off 4 months early. Perhaps a better way is to think of this issue is as if you were investing that extra principal payment, and getting a return worth 4 monthly payments, 29 years and 8 months from now when the
When does it make sense to cancel collision and
I have owned my car for about 8 years now and have had collision and comprehensive auto insurance the whole time. The starting value of the car was around $20K. The trade-in value is currently ~$6K (~$8K private party value) according to Kelley Blue Book. If the car were to be totaled, I have enough saved up to buy a new one.
united states - 5 years left on mortgage..Can I still
5 years left on mortgage..Can I still refinance and save money? Ask Question Asked 8 years, 4 months ago. Active 8 years, 4 You would then have the option in 2 or 3 years of continuing on this path or closing the investment and paying off the remaining principal in one lump sum. If nothing else that big payment would be a really fun check
Any difference between buying a few shares of expensive
Any difference between buying a few shares of expensive stock or a bunch of cheap stock. Ask Question Asked 5 years, 2 months ago. Active 1 year, 10 months ago. Viewed 36k times 8. 1. I don't have a ton to invest. I have $1,000 to put into a stock and I'm eying 3 of them. One is currently trading at ~$100/share, another at ~$260/share and
Should I deduct or capitalize the cost to replace a water
Should I deduct or capitalize the cost to replace a water heater in my rental property? (details Below) Ask Question Asked 5 years, 11 months ago. Strategy to pay off revolving debt while building reserve savings fund?
insurance - Car Accident - Can I get Cash/Check instead
Car Accident - Can I get Cash/Check instead? Ask Question Asked 5 years, 1 month ago. My problem is that my truck is a used construction truck with many dents in it, and taking half a day or a full day off of work to drive there and get it fixed is a waste of gas and a waste of my time.
Why can it be a bad idea to buy stocks after hours
I've heard people say is foolish to buy stocks after hours. Why do they say this? Why can it be a bad idea to buy stocks after hours? Ask Question Asked 6 years, 11 months ago. The dealer still makes money sometimes off this because maybe some trader realized that he has options expiring tomorrow, or a short position that he's going to
What happens to my credit history if I pay before my
What happens to my credit history if I pay before my credit card bill is generated? Ask Question Asked 6 years, 4 months ago. Otherwise, if you put a major expense -- like a new appliance -- on a credit card, even if you plan to pay it off, your FICO score may take a hit. The reason is that credit scores are calculated as a snapshot in time
Making higher payments on primary residence mortgage or
A lot depends on whether your mortgage payments are interest only or 'repayment' and what the remaining term is on each of the mortgages. Either way I suspect that the best value for the money you put in will be had by making payments to the larger, newer mortgage.
Pros and cons of filing bankruptcy or paying off debt?
So if you can (i.e.: capable) pay the debts off - there's nothing magical in bankruptcy that will make it any better for you. You will still pay the debts off, except that now you will also have the huge (and much heavier) stain of bankruptcy. For chapter 7, the length it stays on the credit report is 10 years, not 7.
united states - How does mortgage payoff work logistically
Cashier's checks or the like are only needed when time is an important factor, otherwise standard check or ACH transfer is fine, they just won't transfer the title to your name until the transaction has completely cleared. If you've ever paid off an auto loan (not refinancing or selling the car in the process) it works exactly the same.
Does paying more frequently on a simple interest auto loan
If there's no prepayment penalty, and if the extra is applied to principal rather than just toward later payments, then paying extra saves you money. Paying more often, by itself, doesn't. Paying early within a single month (ie, paying off the loan at the same average rate) doesn't save enough you be worth considering
does interest payment on loan stay the same if I pay early
does interest payment on loan stay the same if I pay early. Ask Question Asked 3 years, 3 months ago. Active 11 months ago. In the latter case, it is better to invest that money and use it to pay off as soon as you reach the threshold; in the first case, any extra payoff is to your advantage. share | improve this answer. answered Jul 7 '16
Should You Pay Off A Low Interest Loan From Emergency Fund
I think you can safely pay it off. From your comment I see your emergency fund can cover 6 months of bills, and one of those bills is a car loan that you would no longer need to include in your emergency fund if you paid it off, so once you have 6 months or less remaining, then paying it off is mathematically correct if your interest rate is greater than 0%.
taxes - If I take a loss when I sell my car, can I claim a
If I sell my car off at a loss, can I write that loss off against my income to save on tax? Does it matter if the car was used just for personal leisure use, or if I used the car to generate business income? (e.g. travel to work, to attend education seminars, etc.)
Should I pay off my credit card with savings? - Personal
If I were you, I would pay it off today. Paying it off will still leave you with $1,000 in your account, which is a nice beginner emergency fund. After you pay off the credit card, use the money you had been throwing at the credit card each month to add to your emergency fund.
Proof of student loan payoff - Personal Finance & Money
Proof of student loan payoff. Ask Question Asked 1 year, 11 months ago. Active 1 year, 8 months ago. Viewed 528 times 4. I paid off my student loan (which was held by Nelnet). I expected a big "congratulations" email with some form that proved I'd paid the loan off. Maybe that will still come in the post.
What impact does trading in a car have on your credit score?
Paying off your loan in full will most likely not help your credit score, and could potentially even hurt it. Because car loans are installment loans (and thus differ from consumer credit), lenders really only like seeing that you responsibly pay off your loans on time.