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The new Chip credit cards are being introduced to provide better security to consumers, merchants and credit card vendors. Are they really better from a security point of view? What are the advantages and disadvantages? |
Are the new "Smart" or "Chip" Credit Cards better from a security standpoint? |
I'm doing fairly well financially, and pay my credit cards off monthly, so to me they are less useful for financing and more useful as a matter of convenience. As such, I'd like to know more about the convenience angle, which often aren't disclosed as thoroughly as interest rates and rewards programs.
I'm looking fo... |
Is there any site you can find out about the 'bonus features' of credit cards? |
Is there any site to compare the security of (online) banking services? |
The new Chip credit cards are being introduced to provide better security to consumers, merchants and credit card vendors.
Sample Card:
![MasterCard Chip Card][1]
Card Reader & PIN Entry:
![Chip Card Reader][2]
Are they really better from a security point of view? What are the advantages and disadvant... |
Cambridge researchers called this system **fundamentally broken**.
It relies on the card to authenticate that the PIN inserted was correct, and the card merely sends a "PIN okay" note to the payment processing system. This "everything OK" signal can be faked. If the PIN challenge was communicated over a secure chann... |
Cambridge researchers called this system **fundamentally broken**. [Here's the news story on ZDNet.][1]
It relies on the card to authenticate that the PIN inserted was correct, and the card merely sends a "PIN okay" note to the payment processing system. This "everything OK" signal can be faked. If the PIN challen... |
It seems like if charities come to the door and you give them money, you just end up with more charities at your door. The same happens with charities that solicit by phone. They obviously share phone lists. We even had a charity call us and tell us we had donated to them before, and there was no way we had.
I'm ... |
Are you just shooting yourself in the foot if you give to charities that solicit door to door or over the phone? |
Yes E[x] is expected value of x.
E[x|y] = expected value of x, given y.
c, k are some constants
Let E[s_{n+1}|s_n=c] = c, but if
E[s_{n+1}|s_n,s_{n-1},...,s_{n-m}] ->some constant k as m->\infty (call this equation 1) then rebalancing makes sense.
Notes:
1. The gambler's fallacy is to believe in equation 1... |
Yes E[x] is expected value of x.
E[x|y] = expected value of x, given y.
c, k are some constants
Let E[s_{n+1}|s_n=c] = c, but if
E[s_{n+1}|s_n,s_{n-1},...,s_{n-m}] ->some constant k as m->\infty (call this equation 1) then rebalancing makes sense.
Notes:
1. The gambler's fallacy is to believe in equation 1... |
Ok this question is going to show my age, but its something I've been thinking about for a while and can't quite figure it out
Why bother with a pension?
I don't understand, why should I put away £1000 per year for a pension now. I'm thinking of it this way:
Putting away £100 or so a month now is a reasonable ... |
Pensions, why bother? |
James, money saved over the long term will typically beat inflation. There are many articles that discuss the advantage of starting young, and offer: A 21 year old who puts away $1000/yr for 10 years and stops depositing will be ahead of the 31 yr old who starts the $1000/yr deposit and continues through retirement.
... |
What investment strategy would you deduce from the latest article from Charles Munger? |
There is a lot of talk about the Fed printing money.
Is there any way to know how much new money is being printed and when?
|
Is there any way to know how much new money the US is printing? |
The stock market at large has about a 4.5% long-term real-real (inflation-fees-etc-adjusted) rate of return. Yes: even in light of the recent crashes. That means your money invested in stocks doubles every 16 years. So savings when you're 25 and right out of college are worth double what savings are worth when you're 4... |
I've got an employee stock purchase plan program. The details are a little tricksy, but I basically get to buy about 2500 shares of company stock at something like $2.33/share... and the stock has been trading around $12 recently (sometimes higher, sometimes lower). I get to do it again in September, and then once more... |
What should I do with the stock from my Employee Stock Purchase Plan? |
*A grim and tragic question perhaps, but I'm curious:*
What happens when a person that co-signed on a loan dies? Is the co-signer's *estate* potentially liable until the loan is paid off, the same as if the co-signer had borrowed the money themselves? Or, does the responsibility for the loan die with the co-signer?... |
Co-signing & dying: What if a loan co-signer dies? Is estate of co-signer liable? |
I've heard it said from people who work in the industry that your credit rating isn't a measure of your ability to pay, but rather a measure of *how profitable a customer* you are. I've also heard people saying that you have to carry a balance, have a rotating pool of debt, or make a payment a little late on rare occas... |
Is your credit rating a scam? |
I've heard it said from people who work in the industry that your credit rating isn't a measure of your ability to pay, but rather a measure of *how profitable a customer* you are. I've also heard people saying that you have to carry a balance, have a rotating pool of debt, or make a payment a little late on rare occas... |
Judge this stock no differently than any other is the answer. Optimism isn't fact.
[http://clarkhoward.com/liveweb/shownotes/2007/06/06/12304/?printer=1][1]
Now because you get to buy extremely low, and sell for probably higher and you believe in the stock, I'd say go ahead and purchase the stock, manage it for ... |
Having worked for both a non-profit and a charity, it is my recommendation that you always donate directly to the charity, and not through any form of solicitation. Most of the telephone calls that you receive are likely from telemarketing companies. It has been my experience (through exploring them as a means of fun... |
Can you calculate the ROI on your credit score? |
Since you ask.... How do **I** do it?
My frugality doesn't come from budgeting or even half so much from keeping money away from myself (though mostly-one-way retirement accounts help). It's a matter of world-view. Spending and shopping for things you don't need is a vice. Limit your indulgence in it.
I've also m... |
I see the term pink-sheet mentioned a lot in context of stocks. What does it mean? |
What does pink-sheet mean related to stocks? |
What percent of salary should go towards retirement vs. emergency savings? Should some be set aside each and every pay for emergencies? |
What percent of salary should go towards retirement vs. emergency savings? |
When the HST comes into effect on July 1, 2010 will gas prices at the pump be affected immediately? |
What will happen to gas prices at the pump on July 1, 2010 in Ontario? |
It's not a full credit course but part time comic [James Cunningham][1] has [speaking tour][2] that promotes personal finance in high schools.
[1]: http://www.youtube.com/watch?v=MTDDV20X_Ks
[2]: http://www.funnymoneyhighschools.com/ |
Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010? |
When going abroad, how do you take your money?
All hard cash? Some travellers cheques?
I guess you could use your normal current bank account, but the UK banks (at least my one did) charges fees all over the place.
If you visit a particular country often, is it even possible to open a bank account there? Sure,... |
When going abroad, how do you take your money? |
I found a page, [Canada Gasoline Tax Information - Ontario Gas Prices][1], listing fuel taxes by province. Ontario's gas prices already includes 14.7 cents per litre of provincial fuel tax, and comments noted "Additional taxes include 5% GST." For Nova Scotia and New Brunswick, where HST is in effect, comments noted ... |
My husband downloaded all kinds of iPhone apps that mimic the barcodes on my rewards cards such as AirMiles, Aeroplan, Longo's, Hallmark etc. Are these types of applications secure? |
Should I trust barcode iPhone apps? Are they secure for rewards and airmiles points collection? |
> How do I determine what to pay the person?
You pay them either what you believe the work is worth to have done for you, vs doing it yourself, or how much they ask for after negotiation.
There's no rule of thumb because it's driven by the market. There will always be people who are willing and able to do the wo... |
> Why do people take out life insurance on their children?
They do so largely because it's being sold to them. The insurance companies generally push them on the basis that if you have to pay for a funeral and burial, the cost would devastate a family's finances. In some rare instances that might actually be true,... |
At the risk of sounding morbid, is it worth looking into cemetery plots/mausoleum storage? Is it correct to assume that these costs will increase over time? |
Are funeral plots a good investment? |
That depends on what you mean by "secure". If you mean "will they steal my membership numbers", probably not. For one thing, they risk being found out and getting caught. For another, a membership number by itself is usually not spectacularly useful. What are they going to do, save money at Safeway? Steal your free san... |
<h2>More questions related to the introduction of HST in Ontario:</h2>
*(community wiki)*
- [What will happen to quarterly GST cheques when HST starts in Ontario?][1]
- [Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010?][2]
- [How can I minimize the impact of the HST?][3]
... |
**DISCLAIMER**: I understand that as a US corporation, you're required to pay taxes in whatever state you A) do business in, b) pay employees in, and c) have property in. I understand that registering in Nevada (a no-income tax state) will not save me any money on my taxes.
That said, I currently live in California,... |
Where to register my web-based LLC? |
How important is disability insurance, e.g. long-term, LTD? Employer offers none. |
Perhaps buying some internationally exchanged stock of China real-estate companies?
It's never too late to enter a bubble or profit from a bubble after it bursts.
As a native Chinese, my observations suggest that the bubble may exist in a few of the biggest cities of China such as Beijing, Shanghai and Shenzhen, ... |
Is it really necessary? If $800 / year registration fee is too much to you, an LLC is apparently not something you need right now.
Many people conduct web-based business online on personal terms. My suggestion is that you focus on your business first and try to grow it as much as you can before you get down to a com... |
Perhaps buying some internationally exchanged stock of China real-estate companies?
It's never too late to enter a bubble or profit from a bubble after it bursts.
As a native Chinese, my observations suggest that the bubble may exist in a few of the biggest cities of China such as Beijing, Shanghai and Shenzhen, ... |
Perhaps buying some internationally exchanged stock of China real-estate companies?
It's never too late to enter a bubble or profit from a bubble after it bursts.
As a native Chinese, my observations suggest that the bubble may exist in a few of the most populated cities of China such as Beijing, Shanghai and She... |
Two partners started a business, and it's grown pretty big (comparatively).
Now they've asked me to be the CTO, and I've determined it's a good position for me to take. I'll be getting 90% of my current salary, and 5% equity in the company.
The question has come up, would I rather be an employee or a contractor? ... |
Perhaps buying some internationally exchanged stock of China real-estate companies?
It's never too late to enter a bubble or profit from a bubble after it bursts.
As a native Chinese, my observations suggest that the bubble may exist in a few of the most populated cities of China such as Beijing, Shanghai and She... |
I've heard about bank accounts in Zurich / Switzerland, but I don't fully understand the unique advantages of swiss bank accounts. What I do believe about these (but don't know for sure):
- They accept money from anywhere without questions, including illegal/black money
- They do not disclose how much a person own ... |
What are the advantages of a swiss bank account? |
Though I do think it is important to have a diversified portfolio for your retirement, I also think it's more important to make sure you are at no point touching this money until you retire. Taking money out of your retirement early is a sure fire way to get in a bad habit of spending this money when you need a little ... |
I've heard about bank accounts in Zurich / Switzerland, but I don't fully understand the unique advantages of swiss bank accounts. What I do believe about these (but don't know for sure):
- They accept money from anywhere without questions, including illegal/black money
- They do not disclose how much a person owns... |
What are the advantages of a Swiss bank account? |
I am around 24... I ve never saved money.... But i really had the doubt about my age for saving money....
- Is there any age limit for saving money?
- From which age should i start saving money?
|
Is there any age limit for saving money? |
I am a small business in Ontario
and I only charge my provincial customers PST
as I am not yet required to charge GST.
Will I be affected by the new HST and if so, how ?
|
I own a small business in Ontario
and make less than $30,000 per year.
I only charge the PST
Will I be affected by the new HST
and if so, how ?
====================
Also:
If the PST is going to be scrapped, and say I am not affected by HST
how will I pay the pst I've collected from my custom... |
Are you working? Does your employer offer a 401(k) and if so, is there any match?
Saving should be taught to kids at the same time they are old enough to get an allowance. There are many numbers tossed around, but 10% is a start for any new saver. If a college graduate can start by saving even 15%, better still. If... |
Have you ever had a mass "spring clean" so to speak of items and put on ebay?
Do you have a habit or hoarding stuff? Lots of DVDs/Books/Electronics you never used? If so have you ever cleared the lot out and whacked it all on ebay?
If so, what are your experiences? Any advice on making the most money? |
Mass "spring clean" on ebay? |
My Ontario small business collects only PST (beneath GST threshold). How will HST affect me? |
Ever sold used stuff in a mass "spring clean" on eBay? What are your experiences? |
How to Transition From Employee to Employer? |
I am from Hungary and I would like to purchase sometimes from US web services like iTunes and so on. They require US cards and billing address. Is it possible to have one without traveling to the US? If not, how can I open a bank account in the US what information is needed? |
How do I get a credit or debit card in the US? |
How do I get a US credit or debit card if I reside outside the US? |
As i am 24 now i get lot of calls from lot of insurance companies asking to take up an insurance policy.... So i decided to get answers for some of my questions in basicallymoney...
- Why should i invest my money in insurance?
- What age would be appropriate for investing money in insurance?
|
Why should i invest my money in insurance? |
Who depends on you?
I personally wasn't insured until I had a family. Of course I had the required insurance policies like auto, but no health until I was 29 and had a kid who needed me. Now I have health, dental, vision, life, auto, homeowners and renter's insurance.
I can't let an accident or disaster affec... |
John's answer is similar to what I was thinking. You should invest in insurance "because there's an insurance salesman who needs to pay to send his kid to college."
I will never be a fan of any type of permanent insurance, and I think it wrong to sell a single person with no dependents such a policy. I've used the e... |
I know people don't use travel agencies anymore as there are so many do it yourself websites available, but with everyone touting themselves as "discount", how can you be sure you're getting the best price?
|
What's the best travel site for discount all-inclusive (and other) trips abroad? |
I recently made a large purchase from an online retailer's outlet store. The online store was having performance problems the day I ordered, but it is large trusted company so I placed the order anyway.
At first the site claimed there was an error with my purchase. They shortly thereafter I got an email receipt fo... |
The etailer forgot to charge my credit card - what do I do now? |
I recently made a large purchase from an online retailer's outlet store. The online store was having performance problems the day I ordered, but it is large trusted company so I placed the order anyway.
At first the site claimed there was an error with my purchase. They shortly thereafter I got an email receipt fo... |
I am co-renting with others who do not pay rent reliably. Is there a way I can stay without harming my credit rating? |
I just moved to the US for working purposes, and found out that for a lot of stuff you buy, you need to have a good credit rating (or pay more, or make a security deposit, etc).
I found out also that I'll need 3 months of credit history before owing a credit card. What are the main variables used in rating someone's... |
Legally? It's easy to claim the spouse handled the credit card bills. If my wife has a change that doesn't come through how would I know to ask? She alerts me to expected refunds based on returns, not on every charge.
But ethically, don't suppose. Wait and check the account in another 2 weeks, if the charge hasn't hi... |
An ecommerce retailer forgot to charge my credit card, & I received the package. Legally speaking, must I inform them they didn't charge me? |
I just moved to the United States. What should I do to develop a good credit rating, fast? |
Why should I invest my money in a life insurance policy? |
Some great answers here. I would never have thought to do so, but the thought of keeping things simple for those left behind to do the planning is a good one. It can be such a difficult time, and too often nobody knows what the deceased person's wishes really were. I also can understand the thought of a family buyin... |
I've looked into this and found the following information at the Ontario Ministry of Revenue, at the page [Are You HST Ready?][1]:
> **Will I have to register to collect the
> HST?**
>
> Businesses that are registered for GST
> will be required to collect the HST.
>
> *To reduce the administrative burden
> ... |
I have a credit card that was opened when I first got ot of college, and was my first credit card. Since then, I have switched to cards with rewards, figuring that since I pay it in full each month, as I might as well get some bonus when I spend money.
I have heard that closing an account that has been open a long ... |
Should I keep a credit card open to maintain my credit score? |
I have just sold my house and bought a new one. The lawyer I am working with to do all the necessary paperwork has sent me something about "Title Insurance". I am not quite sure exactly what this is. Can somebody tell me what this means and if it would benefit me? Should I get it? |
Should I get Title Insurance for my home? |
I have been a sole trader for a while and recently been employed full time, as part of the deal I have been promised an employer contribution pension but it is up to me to decide what to do. What are the best options for pensions - stakeholder, private etc. The company I work for has no pension scheme.
I think I wi... |
What is the best option for recent employee setting up a pension (UK)? |
In going along with these questions
- http://www.basicallymoney.com/questions/83/as-a-general-rule-how-much-in-liquid-emergency-savings-should-i-have
- http://www.basicallymoney.com/questions/316/how-many-months-worth-of-living-expenses-is-considered-an-adequate-rainy-day-f
What items *should* we be planning t... |
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