This is my second post during financial literacy month and I'm going to take on cash vs credit. One popular financial radio host, Dave Ramsey, has been a vocal critic of credit cards saying to never own one because you will spend more because it is plastic (strangely he advocates for debit cards instead). I don't believe this is the case but of course I strongly advise only using a credit card under two conditions. One: you are going to use it to replace your cash spending and no more. Two: you are going to pay the balance off in full every month and on time. If you are going to just pile up debts that incur huge interest payments every month, then this post is not meant for you.
Jon Vroman started the Front Row Foundation and built his business around it so his values, business, and charitable work are aligned. Learn how you can live in the Front Row by being closer to the things that you love.
In 2004, the US Congress officially recognized April as National Financial Literacy Month as a way to improve knowledge and understanding of financial concepts such as budgeting, debt, saving and investing. These are crucial concepts to learn, however, there is very little formal financial education for our children. According to the Council for Economic Education, only a third of states require high school students to take a personal financial class in order to graduate. So it is no surprise that one in five 15-year-olds in the US lack basic financial literacy in 2017 according to the Program for International Student Assessment.
This week on Andy's Inspired Money podcast, he spoke with Wendy Steele on the power of generosity and giving. Wendy is the founder and creator of Impact 100 which brings transformational grants to communities across the United States and Australia. Since its inception, Impact 100 has given away more than $45 million to worthy nonprofits.
We often hear that the act of giving is rewarding. Wendy Steele founder of Generosity Matters and Impact 100 explains why generosity is contagious and can impact your happiness, creativity, and health.
Adam Draper made a crazy bet on cryptocurrency when he launched Boost VC, a bitcoin startup accelerator in 2012. Learn about bitcoin, cryptocurrencies, and blockchain from the founder of one of bitcoin and blockchain's earliest and most active incubators.
In a recent US poll, 88% of respondents said that they had never heard of Alibaba. If you are one of those who don't know the Chinese e-commerce giant, then you can have a quick primer with this epic infographic from 16best.net. Here are a few interesting facts before you dive in:
- Alibaba has a market capitalization of $511 billion as of 3/16/18, just a hair less than Facebook's $535 billion.
- Alibaba has 528 million mobile active users.
- Interestingly 11.1% of Alibaba's visitors are from the US.
- CEO/Founder Jack Ma set up Alibaba with $60k that he borrowed from 18 people. At the end of 2017, the company employed over 50,000 people.
- The company sold over $25 billion in just one day on Singles Day.
The northeast has had a brutal last couple of weeks. Yesterday we saw a third nor'easter bring more snow to the area. The first had wind gusts of 50mph and knocked power out at our office for a week. The second brought close to 2 feet of snow and took down many trees and power lines. Many homes in my area were without power for 5+ days. I was one of the unlucky ones losing power on Wednesday night. Temperatures in my house dropped steadily down to a low of 46 degrees by day 3. The food in the refrigerator was a lost cause but the biggest worry was freezing pipes causing significant damage. Three of my surrounding neighbors had full-house generators and I'm sure many people that lived without power are now seriously considering installing one even at the cost of $8-10k.
Jen Hemphill shares tips from her book "Her Money Matters" that can help you shift your money mindset, set goals, and master your finances.
Find out how Matt Miller took $100 dollars and built a multi-million dollar, passive income, vending machine business.
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