 Is it weird that my husband and I keep our money (almost) entirely seperate? |
| We've been married for over 2 1/2 years. We're fairly young, 24 and 25. We do have one joint account, a certificate of deposit that was a wedding present from his parents for a down ... |
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 My bank card got stolen? |
| My best friend asked me not to tell the police at party at another friends house £600.00 was stolen from a ATM machine. She didnt know my pin but her sister and her boyfriend did who claims he ... |
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 Money is just not here.? |
| When my husband and I found out that I was pregnant with our first child, I quit college to support him through. He is now graduated we have two kids and I am going back to school. We live in a small ... |
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 Can I write myself a check? |
| I am treasurer for a church group and want to reimburse myself for something. I have one checking account for the church group and another personal one. Can I write a check to myself from the church ... |
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 Which is best- to pay off debts or to save? |
I have about £2000 of debt plus student debt (Im not eligible to pay that off yet)
I pay about £100 per month into an isa.
Should I focus more on paying off debt or saving?
... |
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 Pay Day Loan Help? |
| can anyone give any suggestions on the best on line payday loan companies ? i know none of them are really great when it comes to interest but i am looking for companies who will lend you $500 or ... |
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 If You Won A Million Dollars, Would You Quit Your Job? |
I was discussing this the other day and realized a million dollars does not have the "buying power" it use to.
Sure everyone could use an extra million. It's a lot of money.
B... |
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 I need money . How can i get rich?????????? |
Additional Details
is going to college or marrying a rich person the only way????????????... |
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 How can I get a large sum of money, FAST, to go to France? |
| Over the summer I want to go to France and study...but with the economy...NO ONE WILL HIRE ME!!! :-( and eevn if I do get hired tomorrow (which I won't) I still won't have enough money in ... |
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 What is your Formula for Monthly saving Money ? |
| I would like to explore other savers,s ideas on saving money after receiving monthly salary .What do you do , and do you think it has worked for you . I intend to benchmark some of the practices and ... |
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 I received a check.....? |
| i received a letter stating i won $750,000.00 also attached was a check for over $5,000. (actual check) attached with a letter that says i won a sweepstakes last year...the letter also says to send ... |
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 How much money is in your bank account? |
Additional Details
Don't worry, I won't rob you.
Is anyone being honest here?... |
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 How much does a Lawyer earn a year ? |
and if you know how much does a fashion designer earn a year ?
thankyou, (reserch for school project btw)... |
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 Im getting evicted? |
| i need 6 grand by tomorrow or im getting evicted.....anyone know any good loan sharks..regardless of the APR. Or maybe someone might know a better ... |
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Bent | If everyone cashed out their banks accounts, would banks have enough paper money to pay everyone? |
Additional Details
Oh Great. no, yes, no, yes, no, yes. I'm getting dizzy!
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itty
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As long as I get mine..... |
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plf515
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Not even remotely close to enough. There's acutally very little paper money in circulation. |
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Jason
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Yes, they have to have enough cash on hand to cover every cent in their accounts. Casinos, oddly enough, work the same way. Much like banks, casinos have to have enough cash on hand to account for every chip on their floor, banks are no different. So to speak.
-J. |
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jazzdude119
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No. Banks reinvest most of the money we put in. Only a very small percentage of it is actually kept in the safe. They use most of it to loan to other investors. They predict how much money will be withdrawn every month and keep that much available. |
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purple27
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no. |
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Thrasher
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No. They are generally only required to keep a small % of their accounts values. Less than 10 and it may be closer to 5%. After all where do you think loans come from. They couldn't stay in business if they only held onto everyone's money. |
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scheneka@sbcglobal.net
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Maybe not. The FDIC only protects 100,000. The other problem is that banks solely rely on our money inorder to make money. Banks loan out our money in order to collect interest therefore making a profit. If everyone stopped paying back their debt and cash out their bank accounts. Then banks will be SOL. Unless the FED decides to loan out money to the banks in order to keep them in operation. Sometimes the FED release money to banks at lower interest rates so that banks can borrow more money in order to give us people better interest rates. |
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marie
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I work for the fourth largest bank in the US and the anwer is absolutely not. We use deposited money to extend loans and lines of credits to other customers. If everyone were to cash out the FDIC would cover 100,000.00 of the customers money but the rest would have to come from the banks pocket wich in turn would cause the bank to go bankrupt. |
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larylz
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The answer is no banks actually run on credit
My good friend is a pres of a bank |
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♥My 2 Cents♥
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hmmm.....I doubt it!!!! |
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goatboy
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Yes, they ave teams of monkeys in suspended animation in each bank in the world; these monkeys are expert counterfeiters. If a crisis like the one you described happened, banks worldwide woud initiate a protcol called "monkey money" , the simians would reproduce banknotes onto specially watermarked paper, so averting a disaster.
I've got to be honest though I've seen a monkey money test note and was not overly impressed; it looked like....well, it looked like it had been drawn by a monkey that had just come out of a six-year coma! |
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tonalc1
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That's why the FDIC was created after the stock market crash. |
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simsta
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This has happened in the past and they didn't, so the FDIC was created. |
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TooBeauCoup
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If everyone in the world cashed out, I don't think there would be enough paper bills. They would have to put their money-making machine to work overtime. I'd rather just have a big, fat check sitting in the bank; after all, where would I keep all those fat stacks of cash, in my mattress? (Ha) |
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rainfingers
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No. A bank wouldn't make money if they just kept it in a vault. They loan it out to other people at higher interest rates than they pay on the savings accounts. They count on the fact that on any given day, only a small proportion of depositors will want to take money out.
If too many people try to take money out at once, it's called a "run on the banks". |
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krnsspott
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if you saw whats in my account then you'd know the answer is yes |
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psoeffing
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Yes |
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Pumpkin
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Well, yes and no. Your bank money is federally insured up to $100,000 (meaning the bank can only guarantee your money up to $100,000). But technically, the bank does not physically have everyone's money. It only has a small percentage of it available for cash transactions and such. The rest is loaned out in forms of business loans, personal loans, mortgages, etc. This is how the bank makes its profits (on paid interest) and is why they always encourage you to have a minimum amount of money in your bank. So, if you're rich or win the lottery, you should never put all of your money into one bank, but rather diversify and invest. |
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