Category: Finances
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10 Truths Every Adult Should Know About Taxes
If you are an adult with several years of work experience or in the formal sector paying your taxes or you are just joining this working-class world, these are 10 truths about taxes that you should know: The 16th Amendment states, “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived,…
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How to Negotiate Lower Interest Rates on Loans!
Negotiating a lower interest rate on a loan from the bank can help you save money in the long run. To do this, you should do your research, use your credit score to your advantage, and consider a secured loan. By approaching the bank armed with knowledge, asking the right questions, and being persistent, you…
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What are The Glass-Steagall Act of 1933 and the Gramm-Leach-Bliley Act of 1999?
The Glass-Steagall Act of 1933 and the Gramm-Leach-Bliley Act of 1999 are two important laws that have shaped the banking industry in the United States. The Glass-Steagall Act, also known as the Banking Act of 1933, was passed as a response to the financial crisis of the 1930s. It aimed to prevent banks from engaging…
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What Is The Federal Reserve Act and the Banking Act of 1935?
The Federal Reserve Act and the Banking Act of 1935, also known as the Banking Act of 1935, were a set of laws passed by the United States Congress that aimed to reform the country’s banking system and stabilize the economy. The Federal Reserve Act created the Federal Reserve System, a central banking system that…
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How do Banks Make THEIR Money?
Banks generate revenue through a variety of sources, but the majority of their income typically comes from interest on loans and fees charged for services. Here is a breakdown of how banks make the majority of their income: Interest on loans is the largest source of income for banks, accounting for around 60-70% of their…
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Financial Success by “Living Off The Pile!”
Learn how to use dividends to achieve financial independence and protect against inflation with the living off the pile strategy. Read our blog post now!
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New Report by Morgan Stanley: 20% Crash Incoming
Morgan Stanley chief US equity strategist Michael Wilson has forecasted that investors may suffer more in 2023 with a looming recession leading to the S&P 500 falling as low as 3,000 points, which is more than 20% from its current trading level of around 3,900 points. The main reason for the bearish forecast is that…
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How Would a Recession in 2023 Affect the Average Investor
It’s difficult to predict exactly how a recession in 2023 would affect the average investor, as recessions can have a wide range of impacts on the financial markets and the economy. However, in general, recessions are characterized by a significant decline in economic activity, which can lead to reduced profits for companies, lower stock prices,…
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5 Tips for Saving Money on a Tight Budget During a Recession
The current recession has hit many people hard financially, making it more important than ever to be mindful of your spending and to look for ways to save money. By creating a budget, cutting unnecessary expenses, shopping around for better prices, looking for ways to save on monthly bills, and finding ways to bring in…
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Boost Your Salary as a Teacher!
Here are a few ways that teachers can potentially earn more money: It’s worth noting that while these strategies may help teachers to earn more money, they may also involve additional time and effort.