A Day Of Readers Requests – Including Will Several New Car Loan Inquiries Hurt Your Credit Score? And Why Do You Not Disclosure Your Identity?

I haven’t done readers requests in a while because I haven’t had one good one that I think would take up an entire post. HOWEVER, I’ve had several small requests that I can wrap into one post. Inquisitive, interesting, intriguing and some even unusual…

So I’ll start with the more normal requests and questions that just take a one-liner to answer starting with:

I’m shopping for a new car and have applied to several lenders. Will these inquiries lower my score?

– Ben from Nebraska

Hey Ben, thanks for the questions and it is a pretty basic one. According to Fair Isaac, multiple inquiries to automobile or mortgage lenders within a short period of time (usually 30 days) generally count as a single inquiry.

Thus, a little shopping for the best interest rate should not hurt your credit score.

When I say “generally”, there are some random rules I’ve been told that will affect this. If you haven’t made any dramatic changes to your credit in the past few years though, you should be alright!

Is there a “good” time to get into the stock market?

I’m extremely new to investing, and even newer to the real world. I won’t ask WHERE to start, because I know that is tough, but how about WHEN do I start?
– David from Edmonton

Howdy David – thanks for stopping by! This one is pretty easy to answer as well. Since you didn’t give hard details as to what “stock market” is defined as, let’s just start at something small. Let’s invest it in a CD that pays 5%. Say for the sake of numbers you have $1000.

If you let that $1000 sit in your bank account gaining 0.17%, I can assure you that in 1 year, the 5% will be worth more. 🙂 The point being, the sooner the better.

Secondly, depending on your age, and you sound pretty new to it, so you’d probably be in it for the next 40 years. If you’re jumping into a mutual fund or 2 keep in mind that the stock market has gained on average over last 40 years around 10% per year.

That’s more in some years and less in some, but averages out to 10%. In my opinion, and it IS mine, the sooner the better to get it in if you have it.

Do you have a favorite WordPress widget that you can’t live without?

– Lisa from Lexington

Hey Lisa. Yes, I couldn’t live with Akismet. Right now it looks like it has saved me from about 4,000 spam messages.

Why do you not disclose who you are on the site?

…and why don’t you show real pictures of yourself?
– Vasili from New York

Hey Vasili – thanks for the email! I like to keep myself secret for the same reasons Flexo from ConsumerismCommentary does.

He explains his reasoning HERE. But for the most part, I really just like the feeling of quasi-anonymity it gives me.

I enjoy having a second personality online that people aren’t aware of.

Besides, people are coming to my blog to read about personal finance, not delve into my background. If you don’t think my info is worth reading, feel free not to! 😉

What’s your favorite type of pizza?

…I’m doing a random study of how investors eat and if it influences their investing strategies.
– Jennifer from U of Ohio

Hey Jennifer, that’s actually a new one; but heck, might prove “fruitful”. I’m actually a big fan of Hawaiian pizza. And yourself? How about the rest of the readers?

Photos by: a.afleck, SugarInk

Filed Under: 401KEmergency fundFrugalGiveawaysInsuranceInterviewsInvestingMutual FundsPortfolioReaders RequestsROTH IRA

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  • Hank, we are SO different. I can’t stand Hawaiian pizza and much prefer the Neapolitan pizza margherita.

    🙂

    Re: Askimet – I second that. I also like the plugin that shows your blog stats.

    Maybe some day you will let us know who you are… I am curious too!

    Vered – MomGrind’s last blog post..Effects of Inflation – $1 Bras (Wordless Wednesday)

  • So you don’t sell propane and propane accessories?

    Aaron Stroud’s last blog post..Our lives are a work in progress

  • Ben from Nebraska

    That’s what I was looking for! I hate that they keep it so complicated though. Thanks for the tips!

  • @Vered – I’ve never even HAD Neopolitan ice cream! i guess there is a good time to start anything though, eh? It’s now on my list to try!

    @Aaron – hahahaha – I get that a lot actually. King of the Hill is on the DVR all the time. Love the show and maybe in my next life I can sell them – it’s a lucrative business! 🙂

    @Ben – glad to help!

  • Jennifer

    Thanks a lot Hank. I know it is unusual, but you’d be surprised what I’m finding! i will try to come back and update you when i am finished! thank you soooo much!