Why Bad Credit Loans Cost More

The moment you think about getting a loan, the first thing you should do is get your credit report from any of these three credit reporting agencies: Equifax®, TransUnion® and Experian®. You are entitled to one free copy from each agency every year, which gives you the benefit of comparing the reports and making sure there are no discrepancies in any one. Let’s talk about your FICO score. This score is generated by the credit bureau based on your credit information, which involves your income, savings, spending and debts. The…

Capitalism Today – Is it a Race to the Bottom?

There is not a single day when people, from the top tier to the bottom, do not complain about capitalism is America today. Capitalism has changed enormously over the past couple of decades. Has it broken? What has happened to this fountain of growth and money that’s causing so much irritation among people from the Wall Street to the common man earning an average income? What is Capitalism? Capitalism is a political and economic system where there is a strict control of the trade and industry of a country in…

Top 5 Business Books

To this day, Warren Buffett remains the world’s most skilled investor. In fact, Buffett says that the key to becoming a great and successful business man is to read books… to be more specific, read 500 pages in a day! “Knowledge builds like compound interest”, which Buffet says how you can succeed in business. Did you know that Bill Gates read around 50 books in a year? He would try to finish a book in one week and then move onto the next. If these people read books in their…

How Public Schools Are Paid For

“An investment in knowledge pays the best interest” But who exactly are the main investors in the knowledge sought from schools? Though private institutes normally charge tuition fees from their students, public schools don’t. Public schools, also widely known as state schools, offer both primary and secondary education to students free of charge, and are usually non-selective i.e. inclusive, in admitting students in the area they serve. How then are they funded and who ensures they keep functioning well? Since they are state-owned, the obvious answer quite rightly, is that…

‘Interest on Interest’ Isn’t That Interesting? Understanding Compound Interest 101

The eighth wonder of the world, as it is often called by accountants, compound interest can help you increase your earnings if you grasp how it works. As for those who don’t, they’re likely to end up paying it instead and become worse-off. So what exactly is compound interest and how does it work? Read on to find out. Defining Compound Interest Firstly, we need to understand simple interest. It is the interest calculated solely on the original amount of money (called ‘principal’) deposited or loaned. For instance, $1,000 loaned…

How to Qualify For a Mortgage

Buying a house is a lengthy process that requires much time and all your attention. The first 6 weeks, which is the minimum amount of time it takes for a sale to go through, you are constantly running back and forth between the lender and your real estate agent to make sure that all documents are in order. Before, it was quite difficult for people to qualify for a loan. Most of the people were concerned with the initial cost that is required outside the mortgage scope and is needed…

What Is Personal Economics?

Do you ever find yourself evaluating your financial situation and anticipating your financial future? Or perhaps, reaching out to finance advisors to help you with wealth management and acquisition of necessary economic skills? This kind of financial literacy is what Personal Economics is all about.  It allows you to bring financial stability and capability to your life. Furthermore, it helps you to envision the ups and downs you will encounter while handling your personal finances. Different Elements of Personal Economics While finance is a major part of Personal Economics, there…

The Basics about Our U.S Economy

Did you know that the U.S Economy is the world’s third largest economy? It is also one of the world’s most diversified economies, owing to its world-leading industrial sector. The U.S economy is said to be a mixed economy where both privately-owned businesses and the government play their respective roles. This means that it while it operates as a free market economy and allows the consumers to have a say in resource allocation, it also runs on the functions of a command economy where government takes the major decisions. But…

Understanding Auto Financing: Direct Lending Vs. Dealership Financing

Your promotion and raise in your salary has finally given you the opportunity to own a car. However, with new car prices ranging between $33,000 and $25,000, it is difficult for you to afford one. Even used cars start from $20,000. According to Finder, last year, Americans racked up $568.6 billion in car loans. Today, the interest rate on auto loans is 4.21% on monthly payments for 60 months. The good news is, when it comes to financing a car, you have two options: you can either buy a car…

History behind Gold and Silver

Silver and gold have always been found competing in the race of the ‘precious metals’ with gold usually leading and silver following in its wake. The history of both these metals being considered precious and of great value goes way back. There are numerous mythical theories that seek to explain how the whole tradition of buying and selling these precious metals came into existence. But one does wonder where these valuable metals really originated from? Let’s have a look at what history has to say about how these metals were…