A blog where the users answers everyday financial questions using different types of money. E.g.: When you buy a chocolate bar, should you pay for it with 2 quarters, 1 quarter and 1 dime, or 3 dimes? (the answer is: “1 quarter and 1 dime”).
The blog is aimed at getting kids interested in saving and spending money wisely. For example, the blog will explain that “2 quarters = 50 cents” and “1 quarter + 1 dime = 35 cents”, therefore “when you buy a chocolate bar worth 35 cents, it’s better to pay with 1 quarter and 1 dime than with 2 quarters”.
The blog was written by someone who is not an economist or a financial expert. Instead of using the typical examples like “if you invest XX dollars in this stock today then 10 years from now you’ll have YY dollars”, the examples are based on real life situations that we face on a daily basis (buying lunch, doing laundry etc.)
Money is a powerful force in our lives. The way we spend, invest, and save can have a profound impact on our financial futures. But few of us know the ins and outs of this ubiquitous medium of exchange. How much do you know about digital money? Take our quiz, and get an idea of how your understanding compares to that of the average fifth grader.
“Digital Money” is not some newfangled concept. It’s all but impossible to live without it today. Even at the global level, the use of digital money has increased dramatically in recent years, with developing countries leading the way: more than half of people around the world now use digital payments regularly, according to research by McKinsey Global Institute.
But as this trend continues to accelerate, there are still many questions about how digital money works and what role it will play in our lives going forward.
The advent of digital money means that we can move from a system in which all money is credit, with the government acting as guarantor, to one in which some money is credit and some money is digital cash.
Digital cash can be both an alternative form of payment and a substitute for credit. For example, many people would like to carry around more cash than they do now. But the more cash you carry around, the more you worry about having it stolen or losing it. The solution is to carry around less cash and leave more in the bank. But then you have to go to an ATM to get your hands on it when you need it. A better solution would be if you could just spend a few dollars from your bank account by using your phone as a wallet.
It’s only in the past decade or so that phones have become sufficiently powerful and cheap for this kind of application. But once that happens, we can start moving toward a world where everyone has a few hundred dollars worth of digital money on their phone. That won’t eliminate the need for credit cards, but it will change the nature of transactions that use them: instead of paying for everything with credit cards, people will use them only for relatively large-ticket purchases like airline tickets or furniture and
The finance industry is now over $1.2 trillion, nearly 10% of U.S. GDP, and employs more than 8 million people.
American households spend an average of $1,300 a year on fees and interest related to consumer credit cards. That’s more than they spend on eating out or new clothes or even health care premiums.
But do we really understand how credit cards work? How interest is calculated? How our spending habits impact our financial picture? Even if you think you know your stuff, play this game and find out!
Money is a medium of exchange. If you have a lot of money, you can buy other peoples’ work, and they can then buy your work. In this way, money makes it easier to get things done in society.
Money is an information system. It tells you what people want. The more people want something, the more money that thing will cost.
The best way to understand money is to think about how it’s made. Money is made by taking otherwise worthless assets (pieces of paper or numbers on hard drives) and giving them special meaning and value in the marketplace.
Digital currency will allow us to reinvent money so it works better for people and businesses around the world.
In the world of finance, credit cards and debit cards are known as electronic payment systems. The two cards differ in that credit cards are a form of loan, while debit cards draw money directly from your bank account.
Credit card companies charge high interest rates on the money they lend you, while debit cards do not.
People can get into serious financial trouble by using credit cards irresponsibly. If you use a credit card to pay for more than you can afford, you may have to pay thousands of dollars in interest charges.
Credit card companies charge an annual fee to use their services. Debit cards usually do not carry an annual fee.
The most important difference between a credit card and a debit card is that credit cards allow you to borrow money from the bank, while debit cards do not.
Blogs are a great way to reach out to the online community and learn more about your brand. They are also a great place to start if you are interested in building your own website or simply want to know what kind of content you can put on your blog.
If you have ever wondered how to make money with a blog, then this blog is for you. You see, there are many different ways that you can make money with your blog, and some of them will only take up a little bit of time each week or month. However, there are other methods that require you to put a lot of work into them and they will produce results much quicker than the others.
The easiest way to make money with a blog is by selling your own products or services. For example, if you have a product that people want then it will be easy for you to sell it on eBay or another online auction site. You can also sell some of your own stuff that other people have sold on these sites too such as antiques, books, jewelry etc. These are all great ways for you to get your foot in the door and start making money online with your blog.
Another great way that you can make money from blogging is by having affiliate links on your site.