Chances are you have seen on TV or in the movies those large printing presses that print US paper currency, but did you know that hundreds of hours of labor is put into the creation and design of each denomination?
Starting with the process to create the paper, onto analyzing, cutting, packaging and then shipping the money to the banks, there are specialists in each department that ensure that the currency that is printed is done as meticulously as possible.
When a new design is forthcoming in one the Bureau of Engraving and Printing facilities (also called the Money Factories), either in Washington, D.C. or Fort Worth, Texas, these ...
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The Economy Under the Upcoming Trump Administration
The Question of the US Economy for 2017
Experts on all sides are weighing in regarding what the future economy will be like for the next four years. This is not a simple task. There are many factors to consider. For example, what will happen to the nation’s economy if the NAFTA trade agreement is nullified? What about the job market? Will jobs increase? Will the ‘repeal and replace’ of Obamacare help or hinder the economy? What will happen to interest rates of saving accounts, mortgages and credit cards? Will there be an epidemic of personal and business bankruptcies or a substantial decrease of debt? How will the stock market react to these ...
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Seven Ways Young People Can Start Building for Their Retirement
Some people wait until they are in their 40s or 50s before they get concerned about their financial future. Although it is never too late to prepare for your retirement, you should start early. If you are in your 20s, this is the perfect time to start building for your financial future.
Below are five interesting ways where you can start building your nest egg:
Stock Up Now and Reap in the Rewards Later
If you don’t know anything about the stock market, that’s OK. You can call any other the major investment banks and they will guide you on how to start investing. However, some people like to do it themselves. Some of the benefits of self ...
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Common Types of Interest Rates that Bank Use
Financial companies offer loans at that offer a variety of terms and conditions. In this article we will take a look at some of the most common types of interest rates that banks and other financial organizations use.
Let’s begin by understanding a common term called Compounding.
What is Compounding Interest?
Compounding simply means that the specified interest on a loan will be added to the interested that has already accumulated.
Annual Percentage Rate (APR)
Annual percentage rate (APR) is a financial term that is quoted by many financial firms that offer loans. It is simply an interest rate charged for the whole year. APR ...
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Tips for Maintaining Good Credit
There are many ways you can maintain a good credit score. One of the key points is to always be aware of your credit usage, credit score and your financial spending. Following these guidelines will help you maintain good credit and allow you to continue living a financially helpful lifestyle.
Control Your Spending!
This does not apply just to credit cards, but for everything you do. The temptations are always there.to overspend on that new pearl neckless or a new car, because it has options your current car doesn’t have. Be smart and money-wise. You never know when an unexpected financial emergency might happen that could change your entire ...
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The ‘J’ai l’habitude’ of Spending
Studies have shown that many people who to try to maintain a comfortable lifestyle fall short of their goal. One main reason is that they tend to forget one thing - the unconscious habit of spending; hence, the French expression J’ai l’habitude - ‘I am in the habit’.
The act of mindless spending is a habit many of us are not aware of. For example, you are in a department store, with the intent to purchase a suit and a couple of shirts. After a few try-ons, you pick out your suit and then go to the Men’s shirt department. You immediately see two that you like and are on sale, so you grab them. But wait, there is a Tommy Hilfiger shirt that ...
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NYS Takes Bold Step To Regulate Collection Lawsuits
On September 16, 2014, the New York State Unified Court System announced new rules to stop debt collection agencies from using underhanded tactics to win judgments against poor or elderly credit card holders.
In the recent past, debt collection agencies frequently score court judgments for the wrong amount of money or even from the wrong person by using incomplete proof or by pressing cases where the statute of limitations has expired. The collection agencies also frequently fail to provide proper notice that a lawsuit was filed – a tactic known as "sewer service."
"While creditors have every right to collect what is legally owed to them, ...
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SIX QUESTIONS TO DETERMINE IF FINANCIAL TROUBLE COULD BE BREWING
Whether you consider yourself to be financially responsible, or you always seem to come up short on cash, there are a few key indicators that may indicate you are living beyond your means—and being aware of them can save you loads of money woes in times of a cash emergency.
1. Do you have an emergency fund?
Need some motivation to start saving? Sit down and add up how much money you make each month. Then, multiply that amount by six. That is the amount that most financial advisers recommend as an emergency fund.
Most individuals underestimate life’s uncertainties and discount the need to have cash available for unexpected events like ...
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Seniors Struggling With Debt Likely To File For Bankruptcy
Older Americans are being squeezed in many ways. Healthcare and other basic expenses are rising. Fewer have pensions to supplement their Social Security income in retirement. Low interest rates mean what savings they do have isn’t growing quickly — unless they are willing to invest in higher-risk financial products.
And then there’s the other side of the equation: Credit and Debt. Many seniors have not properly planned for retirement financially. Many have used credit cards freely in the earlier stages of retirement to maintain their pre-retirement lifestyle without a plan on how to repay it.
Older Americans are increasingly struggling ...
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Bankruptcy Filings Are Down – But That Doesn’t Mean People Do Not Need to File
Reuters reported today that the number of U.S. businesses and consumers filing for bankruptcy fell 14 percent in the first half of 2012 and could end the year at the lowest level since before the 2008 financial crisis, according to data released by Epiq Systems.
New bankruptcy filings fell to 632,130 in the first six months of the year compared to the same period last year, according to Epiq Systems Inc, which manages documents and claims for companies in bankruptcy.
The number of businesses filing for bankruptcy dropped 22 percent to 30,946 and the number of consumers seeking court protection from creditors fell 13 percent to 601,184.
"We ...
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