What Is The GIT? Do you make a substantial amount of money but feel like you’re not getting ahead? Unfortunately, you may have fallen into The Gross Income Trap (GIT). The gross income trap is thinking, behaving, spending, and living a lifestyle as if your Gross Income is your Net Income. Gross income is our income before taxes and deductions….
Taxes are a big deal. America fought for their sovereignty from Britain over them. Individuals go to great lengths, risking jail time to avoid paying them. This may seem illogical, but it cuts deep into human instincts of not wanting to be parted mandatorily with something they own. With that said, are taxes theft and extortion? What are taxes? In…
On March 10, 2023, the 16th largest bank in the United States failed due to a run on its bank. To be fair, many factors led to the collapse of Silicon Valley Bank, but the run on the bank was the final factor that led to the bank’s demise. As an aid in understanding bank runs, we will briefly describe…
As of today, the national average gas price is $5.01, with California having the highest at $6.43 and Georgia the lowest with $4.48. Compared to a year ago, the national average was $3.08, which is a 62.66% increase. With inflation currently around 8.6%–up 3.6% from a year ago in May–the gas pump isn’t the only place consumers are experiencing higher…
Are you familiar with the word Externality? Don’t be alarmed, even if you are not familiar with the term there is a great chance that you have encountered it in one way or another. The problem with the finance media is they use niche jargon to a wide and diverse audience. The audience shares some responsibility of seeking out clarity…
If you’re following the news, you may feel bombarded by stories about Covid-19, the United States involvement in Afghanistan, and fears of the possibility of stagflation. You may be wondering what is stagflation? If the word sounds familiar it is because it is a combination of stagnation and inflation. If you have an understanding of stagnation and inflation you are…
Everyone makes decisions differently. Some people are impulsive and some people scrutinize a decision to the point of no action. These are extreme cases and somewhere in the middle is a healthy place to be. Opportunity cost is an economic concept that if you’re familiar with it can help anyone make better decisions. There’s a great chance that many of…
Rohman Rory Hemley