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 months’ net income do you think one should keep in a savings account for emergencies?

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Elestra asked:


Obviously you can write checks using a checking account, but other than that, why would you use a checking account over a savings account? And can you use a debit card with a saving account, or is that also only checking?

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Michael P asked:


Everybody knows using a credit card at the ATM or bank will qualify the transaction as a cash advance and cash advances carry a rather high rate. However today I heard a bit on the news;how to make money off of the credit card companies rather than them making it off of you. It featured some investment guru who talked about using available balances on credit cards for investments that have a higher rate of return than the credit card carries. I have a 0% until July 2007 with plenty to invest if I decided to do this, but how would I avoid the cash advance rate if it would be regarded as cash? Are there any investments that would list the transaction as a purchase? Please help, I am confused.

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Searcher’s Curious Account asked:


Let’s face it, here in the U.S. the medical insurance premiums for group health coverage is rising faster than inflation. As a result, a lot of companies are either reducing the levels of coverage in order to offset the cost of insurance, increasing the deductible, and or increasing the cost to the employees for the insurance premiums.

The problem is that insurance companies have no incentive to reduce insurance premiums. They continue to get record profits and this issue is out of control.

How do we get the insurance companies to decrease insurance premiums to the rate of inflation, or better yet, start reducing the cost of premiums for a change?

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Yogiandbooboo asked:


I have no credit card debt but a few credit cards that are open I never intend on using. Is there any way I can close these accounts without hurting my credit? I do not like the idea of having open credit card accounts, for fear of theft of these numbers.

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Ash asked:


If you don’t mind my asking, I’m trying to figure out what a reasonable percent of my income is to be going towards a mortgage payment. My partner and I make around $6500 gross monthly, and I’m wondering what percent of that we could reasonably spend on a mortgage without getting in over our heads. We have no other debt, but have normal bills like utilities and car insurance. If you don’t mind could you please give me an idea of what you earn and what you put towards your mortgage? Or what percent of your gross income goes towards your mortgage payments?

Thanks so much!

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hedonist asked:


I have credit cards which say they cover me for rental car insurance when I use the card to make the full payment for the rental. How does that work? Are there any catches? Does it make sense for me to get the additional insurance from the rental agency (like Avis)? If I am in an accident, will the Credit Card insurance cover everything or will it also be charged to my regular car insurance company?

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okeydokey asked:


My friend was selling his house and couldn’t make the mortgage payments while the house was on the market. He said the real estate agent/company would pay his mortgage while it was up for sale. Then when the house sold, they deducted it from the price of the sale. How is this done?
Also, if you don’t make any mortgage payments while the house is on the market can it go into foreclosure?

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Aliase asked:


I want to set aside $350 a month untouched for a minimum of 14 months but if all goes well possibly even 62 months I already have an emergency fund set up so if something happens I shouldn’t need this account just wondering what is the best type of accout to make the most interest off of if I will be putting another 350 every month?
I don’t know much about the difference between regular savings accounts, MMA, or even CD’s or Savings Bonds.

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Yahoo Answerer asked:


I want to make a new years resolution to pay off my credit cards, and I want to close them out to make sure I don’t get tempted to use them. Will that look bad on my credit score if I close them out, when they still have a balance? Also, do they carge extra for doing that? Thanks for ANY advice on this!

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