Who hasn’t been fleeced by a casino slot machine? Although only Keno offers worse odds of winning, slots are by far the most popular casino game, responsible for 70 percent of gambling industry winnings — so it’s really no surprise they’re derisively called one-armed bandits. Like casinos, banks have their own army of two-faced dollar desperadoes: automated teller machines. ATMs have no qualms heisting 15 percent per $20 withdrawal. For
Continue reading 100 Words On: The One-Armed Bandit’s Armless Cousin
Remember when this was considered a paltry return?
Your savings are a long-term investment, and whether you have accounts for short term purchases to furnish your home or fill your wardrobe, or whether you have your emergency fund and bill payment funds saved in the same place, you have worked hard to earn your money.
You have also worked hard to be disciplined enough to save it in the first place
Continue reading How Fees Quickly Erode Your Savings Account Returns
In October 2013, the US National Debt surpassed the $17 trillion mark — and by the end of 2014, the debt is expected to reach $18 trillion.
At some point, the world will finally lose faith in our currency and conclude that it no longer makes sense to store their wealth in US dollars.
When that happens, the sell-off of “the almighty dollar” will begin in earnest. As those dollars return to
Continue reading 18 Facts You Didn’t Know About Hyperinflation
One of the more difficult jobs any parent faces is teaching their kids the value of a dollar. Sadly, some kids never learn that money doesn’t grow on trees.
It may seem cruel, but parents who aren’t afraid to let their kids spend their money on ill-advised purchases — especially those with limited shelf lives — are actually doing them a favor. Experience is a terrific teacher and, with respect to
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In case you’re wondering, only 10% of all humans have an “outie” belly button. At least that’s what Wikipedia claims.
For what it’s worth, like most folks, I have an “innie.”
By the way, belly buttons don’t have a monopoly on innies and outies; the financial world has them too. Specifically, I’m talking about the dangerous practice of bailouts and bail-ins that governments are employing with increasing frequency to save so-called “too
Continue reading What Everyone Should Know Before Depositing Their Money In a Bank
Earlier this month, British Prime Minister David Cameron offered $1.54 million to the person who could solve mankind’s greatest challenge, whatever that might be. However, before the challenge can officially begin, Mr. Cameron must wait for an official list of the world’s biggest problems from a committee of extremely wise fellows who are now collecting the best suggestions from abroad.
The first candidate problem that immediately crossed my mind was how
Continue reading I’m Stumped: 7 Perplexing Money Questions Without a Good Answer
Every once in awhile I’ll come across something a bit arcane that will catch my eye and really make me wonder.
For example, consider the pattern on the back of this cat:
I know. I can’t believe it either.
I’ll never forget the time I came across an eggplant at my local grocery store that looked exactly like Richard Milhous Nixon. I’m not kidding.
OK, on second thought, the eggplant didn’t look exactly like
Continue reading 4 Good Reasons Why Some Quarters Are Painted Red
Congratulations if you can figure out the connection between this picture and the story.
There are those who steadfastly insist that credit cards are evil, and that credit card companies are greedy heartless scallywags that care only about one thing: making a profit.
I’ve got news for them: Credit card companies aren’t evil.
Neither are profits. Besides, when it comes to profits, credit card companies are no more heartless or greedy than,
Continue reading A Simple Trick for Getting Credit Card Interest Charges Waived
Most folks are really good about making sure they have the proper amount of insurance for their home and automobiles. But when it comes to ensuring the survival of their family in rough economic times, well … not so much.
I recently explained why I believe an economic collapse is inevitable and what it would look like.
If history is any guide, the good news is that economic collapse won’t result in
Continue reading Economic Collapse 101: Ten Ways to Prepare for the Unknown
I think it was the Quaker Oats guy who famously declared that a penny saved is a penny earned. However, because of taxes, a penny saved is actually worth more than a penny earned. To illustrate, if you happen to be in the 10% tax bracket, every taxed dollar you earn is worth only $0.90; tack on FICA, state and other taxes and it’s worth even less.
Continue reading 100 Words On: Why a Penny Saved Is More Than a Penny Earned