My wife and I are looking for a good book to help us make some better financial plans. We had our first child in the past year and my wife will finish graduate school and start a job in a few months. Accordingly, we'd like to redo our financial plans, and we'd like a book to help guide us. [more inside]
I've read a lot about saving money for experiences rather than things. What are some experiences that are absolutely worth saving up for? [more inside]
MF, you're the best, I am entering into a PhD program with 24k in the bank. Wife is quitting her job to stay home with our 7 month old. Is an index fund/savings account/... the best place for these funds now? Anyone come out the other side of something like this successfully? [more inside]
We need to save $2000 every month for the next 6 months. That's not easy. I want to be able to say: okay, here's how much we've saved so far this month, here are our known expenses, can we afford a coffee out today, yes or no? But we don't have a good way to track our day-to-day, week-to-week progress so that we can adjust our spending as needed. Special difficulty: I don't think an app is going to work. I wish I could rig up a flashing neon sign or something over the front door... [more inside]
For Christmas, I decided to set up a 529 college savings account for my 7 month-old nephew. My sister and her husband flipped out, saying I am trying to use their child for tax deductions. I don't understand what I did wrong. Insight please? [more inside]
I'm dealing with a lot of financial anxiety, even though I'm in a place that I know many people would envy. Does anyone have concrete advice for managing illogical anxiety over money, savings and employment? [more inside]
I am finally starting to plan for long term financial security and retirement. Good news, I have a pension. My question is, should I feel secure in my pension actually being there when I retire, or should have a separate, backup retirement account? [more inside]
How do you take 1,000 dollars and make it into 2,000 safely and soundly? [more inside]
My baby girl was born in May and I'm setting up a 529 for her. I've decided to go with one of the age-based options under the Utah 529 plan, but I can't decide between the domestic aggressive option or the global aggressive option. [more inside]
I am looking for guidance on how to go about withdrawing from investment accounts well before retirement. I know the generic advice is that you should be steadily socking away your retirement savings, not spending it, but I need access to cash at the moment. If you can direct me to resources (web articles, books, etc.) on the wisest course to follow when cashing out investments, I would love to hear about them. [more inside]
I'm a french citizen, I've lived in the US for the past 10 months (leaving in a month) and I have ~10k on my savings account. What should I do with the money? [more inside]
I got my theater tickets at a discount, and I could join the Portland City Club at a discount (if I lived in Portland...). I'm 27 and want to find out about other discounts for the under-30 crowd. Where should I be looking? I live in Berkeley and tend to be into things like politics, theater, culture, etc., but general suggestions are welcome. Thank you!
Should [or when should] I tell my girlfriend about my savings? [more inside]
Are there any no-fee business checking accounts for a sole proprietorship? Pretty much no services are needed other than an account that is separate from personal finances.
I recently purchased a Costco executive membership, and am pretty thrilled with how much I'm already saving. But I only want to nab the good deals, and it's hard to individually compare each item's price to the other supermarkets I shop at. So, I'd like to hear what you consider to be Costco's consistently top bargains; also, are there any sites that list Costco's prices for the month relative to other stores' prices? (and maybe even show the items with the biggest savings?) [more inside]
My family's combined income just increased by over 50% in the span of a week, between a new job for my husband and a significant raise for me. This is obviously AWESOME. We went from living on a very tight budget so we could afford to put some savings away, to have a couple thousand dollars a month beyond even that savings. What do we do with it? [more inside]
Going back to school in September after working for ~ 2 years. I've saved up a bit and I'm wondering how to make the best use of it. [more inside]
I'm not looking for investment advice or money-savings advice. Pretty much the opposite. I'm looking for ideas of things that I could do with around $1000 - it could be a weekend trip, a premium consumer product, or something that will benefit me for a long time. Snowflake details inside, but really anything that comes to mind would be great! [more inside]
My partner makes money and has savings. I am a grad student, have no savings, but will make money. How to handle potential cohabitation? [more inside]
Husband and I have $130k saved up. No mortgage, no pension to speak of. Just been called into the bank for talk about long term plans and am freaking out about what to do. Advice? Do I need to see a financial advisor or are they not a good idea? [more inside]
I have ended a long-term relationship where we both had mental health issues (bipolar depression in my case). I haven't worked since 2005 but am a graduate (was back in 1991 though, I'm 44 now) and have about 12 years of work experience. I believe I could work again if given the opportunity, and am willing to do the work either on myself or in terms of learning marketable skills to become employable. I also have about £50,000 ($70,000 I guess?) remaining from an inheritance, which I'm using to live on. It's actually possible to buy a modest apartment where I live for that money, but then I would not be eligible for out-of-work benefits, hence the need to rent. I have never rented before, I lived in my parents house until age 36 and then with my partner in her mother's house until age 44. So I have no references to offer as a previous renter, and am quite socially isolated due to shyness so not sure about finding character references either. My credit score is great due to only modestly using a credit card for 10 years and paying it off each month, and not getting into debt during that time. How can I best sell myself to a letting agency as someone their landlords might want to rent to, and what concessions would I need to make for renting to be a possibility - pay a big deposit? rent in advance? money in escrow account? [more inside]
My family's income has just increased, and we're having trouble choosing between financial priorities. Advice? [more inside]
Currently in Guadalajara, Mexico. Daylight savings time (spring forward) is at 2 am local time. Ipad and iphone for alarm clocks. iPhone is not connected for local service - is on Sprint in U.S. Will these Apple devices self update? [more inside]
If a person is flat broke for a relatively short period of time (<10 days) but some expenses are unavoidable during that time,* is it better to raid a savings account or to use a credit card to pay for the expenses? Assume that the interest rate on the credit card is shamefully high, and that the savings account is very modest (<$500) but nonetheless a good morale booster and safety blanket. [more inside]
What is the best way to move money between retirement accounts while I am currently employed so that I can access it and minimize penalties when I go back to school? (Many, many details inside) [more inside]
MeFites have always been pretty good at giving basic financial advice, like how to start saving, building a budget, getting out of debt, etc. I'm there already. I find myself in the surprising situation of being comfortable these days, and I'd like to know: what's next? [more inside]
I would like to finally start saving for retirement! I'm thinking a Roth IRA is the way to go (unless you think otherwise and can tell me why), but I am a little confused/overwhelmed with how to proceed. A few snowflakes inside. [more inside]
Without consulting his wife or family members, my brother-in-law raided a savings account and bought ~$20k worth of guns/ammo and survivalist gear for his "bug out bag". This occurred over a three week period. I've been asked to get him to relinquish these items so the money can be recouped. So far my efforts have mostly failed. Is there anything else to try before I give up? [more inside]
A friend of my girlfriend's is getting married in Asia over Christmas 2014. She's planning to go, and wants me to accompany her (and, money aside, I'd like to go). She'll be upset and disappointed if I don't, and is already upset and disappointed that I'm balking. She makes enough money to afford the trip without financial contortions, and...I don't, or don't feel like I do. This is a recurring point of contention in our relationship, and, generally, I'm not sure if I'm being unreasonable, she's being unreasonable, or a little bit of both. [more inside]
I need to find a bank with absolutely amazing online security. Two-factor authentication is a good place to start. Bonus points for stability and good interest rates. [more inside]
I am buying my first car. I am thrifty so I'd like it to be used because I think I will find the best deal there; I just don't like the idea of spending all of that money for a rapidly depreciating asset and I'd rather buy it after it has already depreciated some. I am looking for one of two types of cars, either: 1) A sporty, but economical car (think Honda S2000, Mazda Miata) 2) A long lasting electric/hybrid (ie Nissan Leaf, Toyota Prius, Corolla, etc) Please let me know what your suggestions are, along with any caveats to buying a used car. I do not know much about cars. Should I bring a friend who does or hire a mechanic to inspect my car before purchase? Also, where is the best place to find a good deal? Thank you all.
I want to measure and test things in my life (home, car, etc.) for maximum efficiency, thrift, and measuration, which is a word I just made up to combine measurements and data wankery. What measurements can I make and what fun tools do I need to buy? [more inside]
I’m looking for a money management app for Mac that also syncs with iPhone. What do you use and why? (I’ve looked here on Metafilter and found little to nothing that’s recent). [more inside]
Piggybacking on this question: I've had several friends who have had success with Dave Ramsey/FPU, but I don't like the emphasis on "biblical principles" (among other things). But because we get easily overwhelmed by too many options, I think we'd benefit from a really specific financial program that tells us exactly what to do, step by step. Other suggestions, or should we just suck it up and, uh, go with God? [more inside]
I'm looking to buy a home. I'm not wealthy enough to just buy something nice enough straight out, and I've got a decent idea of how much I could/should pay for a monthly mortgage payment, but over the years I've accrued more savings (in fairly low-interest places) than I'd likely put for a down payment. So how do I decide how much of my savings to put into what size of down payment (and, since I know how big of a mortgage I could pay, how do I decide how much I should spend on a house?). [more inside]
I'm going to be taking a 6-month hiatus from contributing to my federal TSP (401K equivalent) account. I know exactly what I am currently contributing each paycheck, and to which funds as a percentage and an actual cash amount. I want to be able to calculate hypothetical returns from an arbitrary date so that I can be sure when I have actually made up for the losses incurred by the break. [more inside]
So, I feel like a weirdo because I've discovered that though my husband and I, who are recently married, still keep many of our finances separate, most other couples combine everything. Friends who I've discussed this with think it's strange that I am paying off my own student loans instead of it coming out of both our incomes. I think combining everything is a little strange and uncomfortable, and I feel like I should be responsible for my own debt. Are we going about things completely the wrong way? [more inside]
I don't have a lot of debt or expenses, so my income keeps piling up in my checking account. Unfortunately, I don't know much about finance or investment. I want to make sure that I don't lose money year over year because of inflation, but pretty much all the CDs and savings accounts I've seen have an APY lower than the inflation rate (which is >= 1.5% according to various websites). I don't care about playing the stock market; all I want is to avoid losing my money through inaction. How do people in this situation keep up with inflation while at the same time minimizing their financial risk?
We are moving into an apartment on top of a Whole Foods so I would like to do most of my grocery shopping there (I use Amazon Prime for stuff you can get in bulk, cleaning products, etc). Does anyone have any protips for saving money there? Their coupon weekly seems pretty anemic and it doesn't seem like they often have really compelling sales. [more inside]
I'd like a resource, be it a website, blog, book, etc. for learning about money, such as explaining inflation, compound interest, types of savings accounts, etc. I'm basically trying to learn how money works. Thanks. :)
So, I just found out about SmartyPig, which offers a 1% APR. I've been using INGDirect (now Capitol One360) as my primary savings account for years, and while I've been generally happy with them, they only offer 0.75% APR. Are there downsides I'm not seeing to switching over to SmartyPig? Have you had excellent/terrible experiences with either of them that would lead you to recommend or vehemently oppose their use? I'm not sure if it makes any difference, but my checking account is with BBVACompass, who's the bank behind SmartyPig. Any insight would be much appreciated!
Some time after my second niece was born, I started sticking a couple of bucks a month into a savings account I set up for each girl. I've been plugging along for years, and now they are 9 and 12, and I have about $600 for each of them. I'd like to figure out a better way to save/invest the money than what I've been doing so far. [more inside]
Do I need a (fee-based) financial planner, advisor, or tax accountant? Recommendations for one in San Francisco? I'm almost 30, almost debt-free, and feeling out of my depth as I try to figure out what to do about non-retirement savings. [more inside]
I want to save up money for a goal I want to meet in 2 years time. I don't trust myself to save the money I need to achieve the goal. I would like to open up a bank account that will only allow deposits for 2 years. Then after 2 years I will be allowed access to the money I've deposited. Are there banks that allow such accounts?
I am moving some savings to an online savings account to get a higher interest rate. I've had the Bank of America savings account for like 20 years. I'm going to keep my BoA checking account, but I'm thinking of getting rid of the savings account. If I have less than 2,500 in the savings account, I get charged a fee. Is there any reason to keep 2,500 in the BoA account - i.e. will the fact that it is an old account get me any leverage if I need to go to BoA for a loan or something down the road? The advantage of closing it would be for simplicity, and to free extra money up for investing or something.
Hello! I'm in my early 30s and am finally financially stable enough to start socking away some cash in a Roth IRA (my employer does not offer any retirement plans). However, I'm a little worried that, with the market being at such a high, that something will happen due to all the current BS going on with Congress and the market will crash again, and I will lose a good chunk of money. Is this fear totally unfounded? Should I just start my Roth and hope for the best?
I am aggressively saving money so that I can quit my job and start a new life. How should I be investing this money if I need it back in 2-5 years? [more inside]
Where to put this $40,000? [more inside]
I'll soon be debt free. How do I make the most of it? [more inside]
I currently have a high paying desk job, but want to live free and make art. Should I save my money or aggressively pay down my student loans? [more inside]