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Archive for the ‘Money Q&A’ Category

How to Calculate Your Personal Savings Rate

Written by Aliyyah Camp - 2 Comments

Savings is a huge part of personal finance. In general, you can always do two things to improve your financial situation: save more and earn more. Although earning more is a lofty goal, income is never guaranteed. But if you have solid savings and have established good spending habits, you can pretty much live on […]

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Published on November 28th, 2016
Modified on December 3rd, 2016 - 2 Comments
Filed under: Money Q&A,Saving & Investing
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Where Should You Keep Your Emergency Fund?

Written by Aliyyah Camp - One Comment

An emergency fund is a cash reserve you set aside to be used for unexpected expenses, or for regular expenses in the event of loss of income. If our lives went exactly as planned, we would never experience things like major home repairs, medical problems, or job loss. Unfortunately, all of these things are a […]

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Published on November 23rd, 2016
Modified on November 26th, 2016 - One Comment
Filed under: Banking,Money Q&A,Planning
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Help a Reader: Buy a House or Wait?

Written by Nickel - 35 Comments

I recently received an e-mail from a reader named Steve. For background, he’s 30 years old and has only recently started getting his financial house in order. Over the past six months, he’s built up a $2k emergency fund at ING Direct, and he’s been working to reduce his debt. That being said, he still […]

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Published on June 12th, 2008
Modified on September 27th, 2013 - 35 Comments
Filed under: Debt Reduction,Money Q&A,Real Estate
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Help a Reader: CDs at a Defunct Bank

Written by Nickel - 10 Comments

A reader named Tony wrote it with the following question: My grandmother found among her papers a certificate of deposit (CD) from 1984, with a 9.5%(!) interest rate. The bank, of course, is no longer around. Is there any way to find out how to claim this? What would you do? Short of trying to […]

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Published on January 17th, 2008
Modified on July 24th, 2008 - 10 Comments
Filed under: Banking,Money Q&A
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Q&A: Debt Reduction Strategy

Written by Nickel - 12 Comments

A reader recently wrote in with what he termed a “complex question” about creative strategies for debt reduction. My wife and I have FICO scores around 750. We have about $28K of debt on top of $238K in two mortgages (191K & 47K). The first is at 5.75% for another 5 years, while the second […]

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Published on September 21st, 2007
Modified on August 14th, 2008 - 12 Comments
Filed under: Credit Cards,Debt Reduction,Money Q&A,Mortgages
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Q&A: Using IRA Funds to Pay Off a Student Loan

Written by Nickel - 6 Comments

A reader recently wrote in with the following inquiry: I am looking to pay off a student loan of just under $22,000 and saw that I can borrow from my IRA to pay for school without incurring the added 10% tax penalty, would this also apply to paying off a student loan? This is a […]

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Published on September 13th, 2007
Modified on April 23rd, 2009 - 6 Comments
Filed under: Education,Money Q&A,Taxes
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Q&A: Using IRA Funds to Purchase a Home Outside the U.S.

Written by Nickel - 4 Comments

I just received an interesting question from a reader that relocated from New York to Denmark in 2003. They have since decided to make the move permanent, and have a question about using IRA funds to help with the purchase of a home overseas: “Can we withdraw from our traditional IRAs to use as a […]

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Published on September 10th, 2007
Modified on September 27th, 2007 - 4 Comments
Filed under: Money Q&A,Real Estate,Taxes
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Q&A: Earnest Money

Written by Nickel - 19 Comments

A recent search engine visitor asked: Who gets to keep the earnest money a real estate deal falls through? My answer: While I’ve talked in the past about the cost of a failed house deal, I’ve never really dealt directly with the issue of earnest money. In case you’re not aware, the whole point of […]

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Published on June 7th, 2007
Modified on September 9th, 2007 - 19 Comments
Filed under: Money Q&A,Real Estate
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Money Q&A Series

Written by Nickel - One Comment

In looking at my site stats, I’ve noticed that a number of people arrive here from search engines looking for answers to fairly specific question. In some cases, those answers can be found in one or more articles within my archives, but in other cases they can’t. Thus, I’ve decided to periodically pluck out some […]

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Published on June 6th, 2007 - One Comment
Filed under: About/Admin,Money Q&A
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