By the time kids leave the 5th grade they should know how to calculate simple percentages, which is one of the most critical mathematical tools we have at our disposal after we become adults.
Well, at least it is for those of us who enjoy eating at fine-dining establishments but aren’t willing to trust our waiter to suggest the appropriate tip for services rendered.
That being said, let’s assume for a moment
Continue reading Are You Smarter Than a 5th Grader? Then Calculate This Bill’s Tip…
Assume you earn 4% interest in a savings account. Whether you pay a tax of 100% in a non-inflationary environment, or collect that interest tax-free with 4% inflation, the end result is the same. In other words, inflation is a tax that requires no approval from legislators. This concept isn’t lost on our government, which is currently mired in over $100 trillion of debt and unfunded obligations.
Continue reading 100 Words On: Why Inflation Is Taxation without Representation
President Roosevelt signing the Social Security Act of 1935 in the Cabinet Room of the White House.
This weekend I was looking through the safe that holds all of my most important documents, like family birth certificates, insurance policies and the secret recipe for mom’s sauce, when I ran across my Social Security card.
Now I’ll wager that, if you poll a room full of people at a triple-keg
Continue reading 18 Fast Facts You Didn’t Know About Social Security Numbers
It’s been said that if the palm of your right hand itches, you’ll soon be coming into money. On the other hand (seriously, no pun intended), it’s also been said that if your left palm itches you’ll soon be paying out money.
Don’t laugh. There are folks out there who actually believe this stuff.
What is funny though is if you do an internet search, you’ll find there is no consensus at
Continue reading 10 Old Wives’ Tales Masquerading As Financial Rules of Thumb
The other day a friend and I were discussing why some people manage to live their lives in complete control of their finances, while others are constantly trying to get out of debt fast – and usually in hock up to their eyeballs no matter how much money they make.
I’ve preached that financial freedom can be achieved by anybody regardless of their income level more times than I care to
Continue reading 10 Key Characteristics of Debt-Free People (of Modest Means)
So, you are struggling financially and are curious about the bankruptcy option. You have heard the rumors about those who have filed and prospered; you’ve heard the tales about those who have filed and failed. Whatever the case may be, you want to learn more.
Bankruptcy is a declared inability to pay off debts. The process is extremely serious and meant to be a last resort, but it often becomes a
Continue reading A Primer on Bankruptcy Options and Potential Tax Liabilities
That’s right. Although having a million bucks isn’t as impressive as it once was, it’s still nothing to sneeze at.
In fact, Reuters reports that in 2009 there were 7.8 million millionaires in the United States.
That’s a lot of people, people. And the odds are one or two of them are living near you.
Heck, one of them might even be your neighbor. In fact, the odds are very good that it
Continue reading 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
Every day on my way home from work I zip by tens of thousands of people behind the wheels of cars stuck in hopelessly gridlocked traffic because they didn’t want to pay the toll (usually between $2 and $10, depending on the direction and time of day) for the open express lanes.
For me, the money spent every day for the right to avoid 10 miles of traffic hell is money
Continue reading Should Low-Income Drivers Receive Subsidies to Use Toll Express Lanes?
In this tough economy, businesses of all types are trying to nickel and dime us to death with add-on charges.
Those charging the fees want you to believe that the fees are necessary to cover the additional costs of doing business, like pizza delivery fees.
In reality, all these fees do more often than not is mislead the consumer by adding a hidden mark-up to the advertised price. Sometimes the fees are
Continue reading 8 Stupid Fees Consumers Hate to Pay (But Often Do Anyway)
The National Debt recently surpassed the $16 trillion mark.
What can we expect if the world loses faith in the US dollar and hyperinflation were to take hold? To help you make sense of it all, here is a primer:
1. Inflation occurs when the supply of money exceeds the rate of economic growth. To put it another way: Inflation results when too much money chases too few goods.
2. Inflation weakens the
Continue reading 18 Crazy Facts You Didn’t Know About Inflation and Hyperinflation