#interest

Compound interest??

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Compound interest?? I understand the idea of compound interest. Making interest from the money accumulated through interest. Here is where I get a little confused I guess. I see people talking about compound interest with stocks. If I buy a stock for say 1000. keep it simple it grows by 10%. The stock is worth 1100. If the following year the stock grows by 10% ag…

Reddit Personal Finance 780 2025-01-13

Lose a 2.99 Interest Rate or Rent it out?

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Lose a 2.99 Interest Rate or Rent it out? Hello, Community of People-who-are-smarter-than-me. Can I get your two cents? Put simply, I’m trying to decide if I should sell a house that I no longer can live in and sacrifice my potentially once-in-a-lifetime interest rate or continue to rent it out. Details are below: Purchased House: 2021 Original Home Price: $648k Left to Pay on Mortgage:…

Reddit Personal Finance 961 2024-12-27

Better to take 24 month no interest debt consolidation loan, or use a no interest balance transfer credit card to pay off $11,000 of credit card debt across 2 cards?

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Better to take 24 month no interest debt consolidation loan, or use a no interest balance transfer credit card to pay off $11,000 of credit card debt across 2 cards? I have $11,000 of debt across 2 credit cards. The interest is making it impossible to get ahead. I’m paying $250/month on each. Is it better to take out a no interest for 24 months loan or use a no interest balance transfer card? submitted by /u/ThrowRAglowinthedark

Reddit Personal Finance 951 2024-12-17

Interest only HELOC $100 minimum payment

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Interest only HELOC $100 minimum payment “The payment will be interest only of the un-paid loan balance during the draw period or $100 whichever is greater” So this is saying $100 payment even when I have a $0 balance? Are these terms typical for an interest only HELOC? submitted by /u/PurpleNachos101

Reddit Personal Finance 535 2024-12-11

Spurs’ Postecoglou has ‘no interest’ who backs him

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Spurs’ Postecoglou has ‘no interest’ who backs him Tottenham manager Ange Postecoglou has said he has “no interest in who is behind me” following an argument with a group of fans after Thursday’s 1-0 defeat at Bournemouth.

ESPN 413 2024-12-07

4% rule, interest and principle

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4% rule, interest and principle I read about the 4% rule for withdraws and how a person could withdraw $40,0000 on an account of one million and probably never run out of money. What I never hear people talk about is drawing down the principal. For example, if a person has one million in an investment account with a guaranteed rate of return (from the brokerage house) of 4%, h…

Reddit Personal Finance 756 2024-12-06

Pay Off $10,000 in Student Loans (5% – 7% interest) Or Invest?

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Pay Off $10,000 in Student Loans (5% – 7% interest) Or Invest? I’m 23 years old, my income is $73,000 a year and currently have around $10,000 in student debt. The debt itself is made up of four separate loans ranging from 5% to 7% interest. My payments are $123 a month. I already have a 6 month, $15k emergency fund, plus $2k in savings that I’m building for buying an apartment down the line (All of it in a…

Reddit Personal Finance 347 2024-12-02

Is it better to pay off a lower interest card completely, or take a big chunk out of a higher interest card?

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Is it better to pay off a lower interest card completely, or take a big chunk out of a higher interest card? I have three cards that I’m carrying a balance on. (My credit score is around 750 atm) I’m mostly only able to pay minimums each month (ugh), but I try to do more when I can. I have saved up almost 3k, and am considering paying off one card, or paying most of another. What would be best? I’m looking to keep my remaining minimums as low as possib…

Reddit Personal Finance 1.1k 2024-11-24

Long-term inflation versus mortgage interest costs

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Long-term inflation versus mortgage interest costs Is there a handy calculator out there that helps you decide between different buying scenarios that take inflation into consideration? For instance, say i want to buy a $300k house today. I could pay cash right now with 2024 dollars. Alternatively, I could get a 30-year fixed mortgage at 6%. In which scenario do you come out on top? Paying all …

Reddit Personal Finance 828 2024-11-23

ESPP Sale –> IRS Interest and Penalty Demans

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ESPP Sale –> IRS Interest and Penalty Demans I sold ESPP stocks in 2022, however my financial institution Charles Schwab did not include these on my 1099B. I prepare my taxes using TurboTax and it didn’t pull these transactions in and I didn’t realize. Now I received a CP 2000 notice from the IRS declaring that the financial institution reported to them transactions that I didn’t include o…

Reddit Personal Finance 356 2024-11-12

Low interest small loans? Thoughts? Help me!

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Low interest small loans? Thoughts? Help me! My husband fell ill in the summer and it set us behind a fair bit. I had to change my rental payments from the 1st of the month to the last of the month which was fine, however my landlord is requesting to go back to the 1st of the month and because we haven’t really been able to get “ahead” or save anything extra — not to throw a pity party hit…

Reddit Personal Finance 1.1k 2024-11-03

Sources: WRs Johnson, Kirk draw trade interest

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Sources: WRs Johnson, Kirk draw trade interest Two receivers who have generated the most conversation ahead of the NFL trade deadline are Carolina’s Diontae Johnson and Jacksonville’s Christian Kirk, sources told ESPN.

ESPN 1.0k 2024-10-27