Not many of us can purchase whatever we want whenever we want without considering how we are going to pay for it. Most people are limited to their income, and after covering basic necessities such as food and shelter, not much is left over for large purchases. Credit cards and loans do provide an opportunity to increase your purchasing power,…
Having a plan for your life is very important. Knowing where you want to go and how you’re planning to get there can be the difference between living a fulfilled, meaningful life and wandering around aimlessly without a purpose. Unfortunately, there are many people who do not know what they want to do and believe purpose will eventually fall into…
When thinking about financial fitness, it is beneficial to perceive it similar to physical fitness rather than as an inherent quality that only a few individuals possess. Not many, if any, are capable of running a marathon competitively without any prior training. The same is true for personal finance. Not many are able to meet large financial goals or emergencies without…
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…
The IRS is disproportionately targeting low-income households due to budget cuts. A study by Syracuse University’s Transactional Records Access Clearinghouse (TRAC) shows that households making $1 million and more are audited 1.5% of the time, those making $200,000 – $1 million are audited 8.9% of the time, those making $25,001 – $200,000 get audited 35.2% of the time, and those households…
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…
We are all familiar with money. It is part of our everyday lives. We use it to buy food, clothing, shelter, and entertainment. Money impacts all aspects of our lives one way or another, but how does it work? Money is defined as a medium of exchange. This is a basic definition of money that tells part of the story….
It’s common practice for politicians to make grand promises to the electorate in hopes of receiving their votes. Many of these promises may be well intentioned, but depending on the political climate and many other factors, delivering can be very difficult. It’s even more difficult if a president only serves one term. Nonetheless, if a president can accomplish one big…
Money is an essential part of our everyday lives. Food, clothing, and shelter are basic necessities everyone needs to survive, and we need money to purchase them. Even though we know that money serves an important role in society, sometimes it gets a bad rep. Movies and music both unhealthily glorify and demonize money, leaving many to have distorted views…
Our daily lives of working and tending to our family can take a major toll on our mental and physical health. Many people are so caught up in their duties that they don’t realize that they need a break until they are near exhaustion. A vacation is well overdue for many, but many people do not have the means to…
Rohman Rory Hemley