#cash

Not sure if I should cancel my life insurance and receive $20k in cash surrender value.

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Not sure if I should cancel my life insurance and receive $20k in cash surrender value. 27M. My dad has been putting money into life insurance plans for me and my siblings since we were kids. He recently transferred the accounts over to us so we’d each be responsible for the monthly premiums. I don’t have a problem with paying the premium, only thing is I don’t really see a point in having life insurance as I don’t want to have ki…

Reddit Personal Finance 250 2023-08-17

Mother has been hoarding cash for god knows how many years. How do we handle this?

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Mother has been hoarding cash for god knows how many years. How do we handle this? It turns out that my mother has been hoarding cash for decades. She has more than $150k in a safety deposit box, which is against the deposit box policy, and good financial sense. When I found out, I told her that she needs to deposit that money in a bank account immediately, but she is terrified to do so. Years ago, my parents were audited by t…

Reddit Personal Finance 158 2023-08-17

I’ve neglected saving for retirement and done the equivalent of sticking cash under a mattress for years. I’m amending the err of my ways and would love the advice of this community!

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I’ve neglected saving for retirement and done the equivalent of sticking cash under a mattress for years. I’m amending the err of my ways and would love the advice of this community! Hello r/personalfinance! I’ve reviewed the PFWiki (and “I have $X, what should I do?) and have found some great information in there, but I’m trying to home in on some answers to help guide my specific situation. I’m in the mid-career adult age range (35-45) with a family and for years I have run with the blinders on and been delinquent in plann…

Reddit Personal Finance 247 2023-08-16

How necessary is physical cash in Japan?

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How necessary is physical cash in Japan? I’ve heard they’re more cash based than other places. I went to the UK not too long ago and didn’t use physical money the whole time, just card. In my day to day life in the US I also don’t use cash and haven’t held a physical dollar bill in a while. For travel I prefer to not carry cash unless I’m going somewhere that it’s absolutely necessary….

Reddit Travel 212 2023-08-16

Betterment cash account

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Betterment cash account I’m between properties, plan to purchase something by end of year. Any reason not to dump the proceeds into betterment’s variable interest cash account? Is there any reason this service is not the high yield savings account it seems to be. submitted by /u/mnailz1

Reddit Personal Finance 193 2023-08-15

Cash only living in the USA?

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Cash only living in the USA? Like most people living in the US I got myself into debt, credit, car, personal loan & student Loan. The student is the only thing paid off. I’ve started doing a cash budget a couple weeks ago & it’s been a financial eye opener. I’ve read/listened to articles and videos about how other countries don’t use credit and use cash only. Realistically …

Reddit Personal Finance 189 2023-08-13

Why Cash Is an Appropriate Gift at Asian Weddings

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Why Cash Is an Appropriate Gift at Asian Weddings Forget registries — in Asia, it is common to give marrying couples envelopes of cash. But unwritten rules on how much to give depend on who you are and which superstitions you believe.

New York Times 180 2023-08-12

Best no-fee bank w/ international, cash deposits, humans

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Best no-fee bank w/ international, cash deposits, humans I have been using Ally for many years, but recently I’ve run into some issues with their handling of international transactions, cash transactions, and overall poor customer service. I’m looking to switch banks, but haven’t found the right fit yet. The criteria I am looking for, roughly in order of importance: No fees, minimum deposits, transac…

Reddit Personal Finance 140 2023-08-12

What cash discounts tell us about payment defaults

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What cash discounts tell us about payment defaults I’ll see you at the ATMLast night, when I was settling up at the dive bar, I began thinking once again about the tradeoffs of technology. I was thinking about it because I paid in cash. Post-pandemic, it seems that more people than ever are using credit cards for payments; they are now the vast majority of transactions, according to a report fro…

The Verge 225 2023-08-12

Buying home with cash

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Buying home with cash Just a curious 20yo here. Isn’t it better to live on rent if you can save up for a House and pay full payment once enough cash is gathered up. What are the downsides to this. I get owning a home is the biggest perk of taking out a mortgage but surely it’s better than paying 100ks in intrest submitted by /u/ATG_076

Reddit Personal Finance 240 2023-08-08

Life Insurance cash-out

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Life Insurance cash-out My grandparents generously set up a whole-life insurance policy in my name when I was born. As I’m now in middle age, I have a 401k, a brokerage, and an annuity upon retirement. I have no kids. My house is very near paid off. The insurance policy is for $80k. It’s just…not that much. My wife will get everything if I die, as well as her own reti…

Reddit Personal Finance 182 2023-08-07

Lease vs cash sanity check

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Lease vs cash sanity check I am about to buy a new mini. I was planning on paying cash, but the dealership is offering a 7500 rebate on 36 months leases which make the total $$ equivalent to buying cash. Could you please sanity check my math? Tot price cash 31895 Lease: Down : 3000 Payments: 35months x 422 = 14770 Residual value: 14033 Total cash over three years: 31803 …

Reddit Personal Finance 184 2023-08-07

LPT: Take your passports, IDs and some cash with you while taking day stops on cruises

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LPT: Take your passports, IDs and some cash with you while taking day stops on cruises I recently came across some folks who went on an excusrion in Cozumel (with me) after arriving there on a cruise ship (around 11am). They were ballsy enough to go on a ‘4’ hour snorkeling excursion (starting at noon) which involved a taxi ride to boat excursion point and 3 different stops via a boat. The cruise ship’s takeoff time was at 5pm. Th…

Life Pro Tips 273 2023-08-06

Should I cash out 401K to pay off CC debt?

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Should I cash out 401K to pay off CC debt? I’ve been unemployed for almost a year. I’m running low on cash. I’ve racked up ~40K in credit card debt (~14K of that is rent I put on the card). I’m moving back home and will not have to pay rent anymore. I can pay it all off if I cash out my 401K, but I’ll have no retirement savings. I’m afraid the interest is going to spiral out of control i…

Reddit Personal Finance 224 2023-08-05

Should I cash out my whole life policy?

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Should I cash out my whole life policy? So I’ve tried to look up this question and keep seeing mixed answers- I have a whole life policy that is worth 10k payable upon death, with a cash surrender value of 756$ that my dad took out in the 90’s paid in full. I’m 30 with little to no savings, 4 kids, and am married. We are struggling financially, and that 700$ can make a big difference …

Reddit Personal Finance 197 2023-08-05