Can someone help me double check this..... please....What answer do you get? |
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I need to get 700 dollars FAST? |
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so i went to this website that i found from someone on yahoo answers.
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You just won the Mega-Millions and cleared 20 Million after taxes. What now? |
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How do people on benefits manage to pay the bills? |
Additional Details ok then oo-siox . how do they get away with not paying? i agree they cant hang you for it and i know lots of people dont pay but how do they do it? go bankrupt maybe?... |
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Am desperate for loan quickly? |
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Do you think it is really possible to just save a million $$$? |
| i figure i am only 18 if i start now and start off at a reasonable price reaching this goal shouldn't be impossible. i know $50 a check isn't much but that is $200 a month. i like to give ... |
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How do you make a budget on very little paycheck, and live happy with nothing? |
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sprintcar1741 | I have 2000 dollars, what should i do with it? Ok so im 19 and i live at home.? |
My only bills are rent, cell phone, and car insurance. i have a job i work full time and its great and all but just doesnt pay much. im going to school part time also. i used to spend alot of money until i took this personal finance class im in. i started to budget now and am pretty good an cutting back on things that arent needs. i have 2 credit cards but i pay them off in full at the end of the month so i dont have any debt. i have my money in a regular savings account at my bank but the interest is horrible (lol) so i was wondering what to do with the money? should i invest it, spend it, save it? if so how much and where? or is there any great savings accounts that you know of? i do wanna buy things but i dont wanna blow it on just junk you know. id rather save it and use it for an emergency fund and let it continue to grow. oh yea i also deposit 100 dollars out of each paycheck so i add about 200 every month. any idea or help about what i should do with the money?? thanks |
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Jay
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Open an IRA with this $2000.
Then every six months, open a "certificate of deposit", or a money market acct. with $1000.
The Ira is a great retirement option, and the 2 types of accounts offer the best interest.
With the "CDs", you have the option of accessing money every 6 months without penalty. Or turning it over.
You want to wait until you have a very sound base in savings prior to investing in the stock market. When you have the equivalent of one years salary in the bank, is a good time to look at that option.
At $200 a month, you are depositing $2400 a year plus interest. So by putting $2000 a year in cd's, you are not depleting your account. You still have a small cushion.
You are very young to be so wise about finances. Keep up the good work and you will live comfortably, while also saving for retirement years. This is the best time to save big, while you have the advantage of living at home. Go for it! |
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skidrowdan
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Money Market Account. Leave it there, do not touch it. Then open a savings account for your everyday money. |
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La La La, Elmo's World Keheh
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You can give it to me for Europe.
haha jk.
I think you should def save it.
There will be a day when you suddenly need money badly and it's not there... trust me, it happens. |
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the sweetest JAM
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first off, why would you wana spend it all? if you wanna spend, go ahead but make sure it is something you really need.. you know, just to pay off your hardwork once in awhile =) if i were you, i would just continue to save it all and who knows, maybe in the future you would need a big sum of money.. at least you have something to pull out from the bank =) |
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lover_boy
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you can give it to me |
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CFPwunaB
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Well, you are off to a great start!
You mentioned that you wanted to save the money as an emergency fund, and that is a fantastic idea, a good place to store that money would be in a Money Market Account (MMA), almost all banks offer one, but not all banks offer the best rates, shop around for those great rates, there are plenty of websites you can check out. Since you seem to have an interest in Personal Finance, I would suggest purchasing a 12 month subscription to a personal finance magazine, some publish every month banks that offer the best rates on CD's, Savings accounts, and MMA's. The subscription should only cost about $12, that would be money well spent. Kiplinger's Personal Finance, or Money magazine are my top 2 picks you can check out their websites.
You might also want to consider saving for a down payment, or opening up a Roth IRA. |
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*bliss*isn`t so bliss*
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you should save it cuz what if something happend or you needed it and you didnt save it then you would be in trouble so if i we`r you ide save it even if you dont put it in a bank just fined a place that only you know of its betteri know some ppl that didnt save and now their strugling and its bc they whanted to spend and still do and ppl wonder y they dont have money i dont have a job yet till next year so im not so worried yet but just be smart and save! |
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Raja G
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best investment of lifetime,make 15000 dollars in 15 days with little investment at http://www.nalboo.com |
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Taylor T
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give it to the homeless |
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Old Uncle Dave
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You answered your own question when you said. "id rather save it and use it for an emergency fund and let it continue to grow."
Do that. Leave it in the bank. |
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Kaytee P
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You are young and likely going to want that $2,000 towards your college education should you choose to go for it. I would put about three months pay into a savings account as an emergency fund, and invest the rest in a low-risk type of investment such as GIC to earn interest on it but keep the funds liquid. Your best bet is to get professional help at your nearest bank from a financial planner. |
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Evan B
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Go to www.bankrate.com and look for a savings account with the highest (stable) interest rate. |
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Alexandra S
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Listen to "Jay!" |
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Swimmer
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make hash brownies and give them to the cops...see if they notice...you could try making some herbal tea too...that would be pretty funny |
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jrdeyloti81
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at the end of every week or month whichever you prefer, divide it into thirds, example, one third goes in savings, one third u invest, and the last third u blow on whatever u want |
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