Mar 212017
 

How much money do you need to save each day to become a millionaire? Check out the chart from Business Insider below to “trick” yourself into building up your savings account.

If you want to get rich, start investing — and start as early as you possibly can.

“Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan,” financial adviser David Bach writes in his book “Smart Couples Finish Rich.”

“You don’t need to have money to make money,” he writes. “You just need to make the right decisions — and act on them.”

To illustrate the simplicity of building wealth over time, Bach created a chart (which we re-created below) detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you’re 65.

The chart assumes you’re starting with zero dollars invested. It also assumes a 12% annual return.

You can start by investing in your employer’s 401(k) plan — an easy, automatic contribution — and then consider contributing money toward a Roth IRA or traditional IRA, individual retirement accounts with different contribution limits and tax structures.

While the numbers in the chart below are not exact (for simplicity, it does not take into account the impact of taxes, and 12% is a high rate of return), it illustrates that a commitment to saving — even a few dollars a day — can make a huge difference in the long run.

Next time you consider running to Starbucks for a $4 latté, think about this chart and consider redirecting that coffee cash to your savings:

How Much Money You Need To Save Each Day To Become A Millionaire

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Mar 202017
 
Everything you didn’t know about the Federal Reserve explained in just a few minutes…

An Explaination Of The Federal Reserve In Less Than 3 Minutes

Like doing taxes and managing a business, there’s a lot many of us didn’t learn in school. Fortunately, School House Shock is prepared to instruct the masses on what exactly the Federal Reserve is.

In case you missed Government class, the Federal Reserve is the central bank of the U.S. and it is credited with helping the nation maintain high employment rates and stable prices for consumers. The main tool utilized by the Federal Reserve to influence the economy is interest rates – the price everyone pays to borrow money. Learn more here.

As is mentioned in the video below, the central bank is able to assert its influence by buying and selling U.S. Treasury bonds (this is how the U.S. borrows cash to fund government operations). When the Fed buys Treasuries from individual banks, new, shiny money is created electronically to pay for these bonds. Such is how the Fed increases the supply of money in the American economy.

However, there are numerous ‘cons’ to the process. This is what the video below seeks to examine in less than three minutes. A summary, found in the description section on YouTube, reads:

“Money – whether its a tangible piece of paper or a number on a screen – is intrinsically worthless, yet it fuels the modern world. In America, the ultimate control of money rests with the bankers of the Federal Reserve System. Because of this it is detrimental that we as citizens understand how this shadowy – private – organization works and how it’s ultimate goal is to forever enslave us in a descending pit of debt that we will never crawl out of.”

Learn more by watching the video below:

 
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Joke Of The Day: Opening A Joint Account

 Jokes  Comments Off on Joke Of The Day: Opening A Joint Account
Jan 272017
 
Rubber Chicken I went to a new bank in town to open a joint account. When they got to the point in the application where they ask for the second name on the account, my reply was, “Anyone who has a lot of money.”

 

 

 

Why Is A Dollar Called A ‘Buck’?

 Information  Comments Off on Why Is A Dollar Called A ‘Buck’?
Jan 082017
 

In colonial times in USA, traders used deer’s skin as a mean of payment. That’s why a dollar is called a “buck”.

As with many etymologies, the exact root of this word is difficult to say with one hundred percent certainty. However, the leading theory is extremely plausible and backed up by a fair bit of documented evidence. Specifically, it is thought that a dollar is called a “buck” thanks to deer.

One of the earliest references of this was in 1748, about 44 years before the first U.S. dollar was minted, where there is a reference to the exchange rate for a cask of whiskey traded to Native Americans being “5 bucks”, referring to deerskins.

In yet another documented reference from 1748, Conrad Weiser, while traveling through present day Ohio, noted in his journal that someone had been “robbed of the value of 300 Bucks.”

At this time, a buck skin was a common medium of exchange. There is also evidence that a “buck” didn’t simply mean one deerskin, but may have meant multiple skins, depending on quality. For instance, skins from deer killed in the winter were considered superior to those killed in the summer, due to the fur being thicker.

It is thought that the highest quality skins were generally assigned a one to one value with one skin equaling one buck. In contrast, for lower quality skins, it might take several of them to be valued at a single buck. The specific value for given sets of skins was then set at trading.

In addition, when the skin was from another animal, the number of skins required to equal a buck varied based on the animal and the quality of the skins. For instance, there is one documented trade where six high quality beaver skins or twelve high quality rabbit pelts each equaled one buck.

This use of skins as a medium of exchange gradually died off over the next century as more and more Europeans moved in and built towns and cities. Once the U.S. dollar was officially introduced after the passing of the Coinage Act of 1792, it quickly became the leading item used as a medium of exchange, but the term “buck” stuck around and by the mid-nineteenth century was being used as a slang term for the dollar.

Bonus Fact:

While it may be tempting to think that the “buck” in this sense is where we also get the phrase “pass the buck”, most etymologists don’t think the two are related. The leading theory on the origin of the phrase “pass the buck” is thought to come from poker, with one of the earliest known references of the idea of literally passing a buck being found in the 1887 work by J.W. Keller, titled “Draw Poker”. In it, Keller states:

The ‘buck’ is any inanimate object, usually knife or pencil, which is thrown into a jack pot and temporarily taken by the winner of the pot. Whenever the deal reaches the holder of the ‘buck,’ a new jack pot must be made.

As to why it is then called a buck, it is thought that may have arisen from the fact that buck-handled knives were once common and knives were often used as the “buck” in this sense. As for the figurative sense of passing the buck, this didn’t start popping up until the early twentieth century.

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AMERICA MADE GREAT AGAIN! U.S. Dollar Soars To 14-Year High

 Political  Comments Off on AMERICA MADE GREAT AGAIN! U.S. Dollar Soars To 14-Year High
Nov 162016
 

america-made-great-again-u-s-dollar-soars-to-14-year-high

Donald Trump is not even in office yet and he is ALREADY having a POSITIVE effect on our economy.

When the markets see Socialism in decline and Capitalism again ascendant, this is what happens. It’s not rocket science… merely economics.

The dollar hit a 14-year high against a basket of currencies on Wednesday as a post-U.S. election sell-off resumed across global bond markets, lifting Treasury yields and attracting investors to the U.S. currency.

That halted stocks in their tracks, with Europe’s main indices down as much as 0.8 percent and Wall Street expected to open 0.5 percent lower.

The Bank for International Settlements this week repeated its view that a stronger dollar poses risks for global markets and financial stability. Investors have largely shrugged off these warnings but stocks felt the heat of the dollar’s latest rise on Wednesday.

“I agree with the consensus interpretation of the key macro trades – higher yields and a stronger dollar – but I’m less persuaded by the expectation of higher global equities,” Stephen Jen of hedge fund Eurizon SLJ Capital said on Wednesday.

“The world’s interest rates have been dragged higher by the U.S. yield curve, creating the risk that interest rates may be too high for the still-fragile economies in Europe and emerging markets,” he said.

U.S. President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost economic activity while his proposals to deport illegal immigrants and impose tariffs on cheap imports are seen driving inflation higher.

That prospect has given rise to expectations that U.S. interest rates will rise faster than previously anticipated, boosting the dollar.

The dollar index, a measure of its value against a basket of currencies, rose to 100.53 on Wednesday , its highest since April 2003.

The dollar rose 0.5 percent against the yen to a five-month high of 109.75 yen <JPY=>, rose to an eight-year high against the Chinese yuan of 6.8703 yuan <CNY=CFXS> and the euro fell below $1.07 for the first time in a year <EUR=>.

“The narrative on the dollar is strong,” said Simon Smith, chief economist at FXPro.

“A move higher in interest rates next month is now a near dead cert, with the implied path for rates next year also moving higher and providing further support for the dollar.”

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Trump has done more for the dollar in 8 days than Obama and Bush did in 14 years.

 

The True Cost Of Home Improvement

 Infographics  Comments Off on The True Cost Of Home Improvement
Jul 062016
 

This infographic shows you the average cost of 57 common projects. In addition to national averages, the graphic also shows you the general range of what you can expect to pay for each project.

One of the great joys of owning your own home is improving upon it. Whether you’re painting, building a deck, remodeling your kitchen, or any host of projects – home improvement feels empowering. It’s your home, and you can make it into whatever you want it to be! But it can also be a little scary. Data about the cost of home improvement projects is not easily available. When you have to hire help, how will you know that you’re getting the best deal?

In this infographic, we’ll give you the highest highs, lowest lows, and national average costs of every home project you could think of. If you want more information, check out our True Cost Report too!

The True Cost of Home Improvement

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The Best Return On Investment

 Infographics, Information  Comments Off on The Best Return On Investment
Jun 152016
 

This handy infographic from Northshore Fireplace lists the top five highest return on investment renovation projects, as well as additional helpful information for each type of project.

The Best Return On Investment

Home is where the heart is, but sometimes it’s also where a homeowner’s savings plan comes into account. Homeowners may have a long wish list of home renovations and projects, and sometimes the work is never done. While return on investment (ROI) may not be the biggest consideration in a homeowner’s mind when deciding which projects make it to the top of the list, knowing which projects see the highest returns may be helpful in the decision-making process.

 
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