Archive for October, 2008
How many years does it take for savings bonds to mature?
ginnrc asked: I have gotten several savings bonds as gifts since 1991 till 1996. One person told me it takes 18 years for their value to mature and another person told me it only takes a few years.
When is the fall change from Daylight savings time to Daylight Standard Time in 2007?
Searcher asked: I saw a sign that talked about checking your batteries in your smoke detectors. But it didn’t give the date of the conversion from daylight savings time to daylight standard time.
When will that happen?
How much income tax do savings cost?
MHrice73 asked: I’ve heard that you only have to pay income tax on savings accounts if you take out money. Is that true? If you do take out money how much do you have to pay. What if you took out money to pay for classes, will you have to pay less income tax; how [...]
How can I move my savings to Canada as an American?
Kyle M asked: I don’t have a lot, but my wife and I were planning to emigrate in five years anyway. We’d like to start saving in Canadian dollars now. We live near the border, but in a rural area with no major cities. How easy would it be to open a [...]
How does one start a savings and loan business?
DayinthePark asked: With all the mismanagement of lending, and now with the government rushing in to prop up those lending institutions suffering from their own poor choices, I want in on this business! How can I start a Savings and Loan in California?
What’s the best way to save for multiple savings goals at the same time?
Chris H asked: I’d like to start multiple “fake” accounts so that I can instantly mark money as reserved for a future expense. So if my “house maintenance” account has enough money in it, I can start my next home repair project. Or if my “entertainment” account has enough, I can go out and buy [...]
What is the best way to invest savings bonds?
nogmamm asked: My kids have well meaning grandparents who send savings bonds for birthdays and holidays and I have no idea what to do with them. I have thought about putting them in a mutual fund at some point. Does anyone know what amount of money you have to have to start one up?
How much should I have in savings before buying a home?
risingstorm1914 asked: I am 23 about to start my savings for home purchase. I currently owe 80k in student loans and I am making 40k but that will change after graduation in May and I am also planning to work a second job after grad boosting my income to low to mid 80s. I intend [...]
What is the right amount to keep in a savings account for emergencies?
Benson asked: You know the dilemma: in an emergency, you need your money fast. A savings account gives you pretty quick access to your money.
But a savings account also earns low interest. So if you put too much in there you diminish your earnings.
I’ve heard all kinds of conflicing advice. What do you think?
How many [...]
Is it possible to convert a savings into a checking account?
Jane K asked: Hello, I am wondering if it’s possible to change a savings account into a checking account or would I have to open a separate account for that?
If it is possible, would there be a fee?
Thanks in advance.
