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8 Reasons For Bank Runs (And How to Protect Your Money)
We had a dramatic weekend, as regulators saw bank customers rushing to access their money in Silicon Valley Bank (SVB) before it completely failed. As of this writing, SVB has failed, while the next bank to suffer the same fate this weekend was Signature Bank in New York. The next bank that regulators are closely watching is San Francisco-based First Republic Bank, which currently is in its last leg as JPMorgan Chase & Co. has stepped in to inject funds to help it keep afloat. What is going on, and why are banks failing? In this article, we will explain the causes of these bank failures and bank runs and…
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8 Lessons to Create a Budget
When it comes to the most vital skills in personal finance, I think learning how to create a budget is at the top. Whether you’re a college student, a stay-at-home parent, or a young professional, budgeting is a critical aspect of achieving financial success. I have learned a lot about personal finance and have consolidated my knowledge in this blog, here are 8 lessons to create a budget like a personal finance expert. Furthermore, know that how you manage your money by creating a budget can mean whether you become successful with money or not. Therefore, let’s start first with the first point, and that is having a goal. 1.…
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8 Reasons Why Investing in Silver Makes More Sense Now
8 Reasons Why Investing in Silver Makes More Sense Now In an ongoing old debate about gold versus silver as a better investment. Why is now the best time to buy silver? Gold has been the dominant precious metal in investment portfolios for as long as we can remember. However, with a historical difference in the gold-to-silver ratio, the growing demand for silver in industrial applications, and silver’s role as money, the hedge against inflation makes a strong case for the white metal. Our analysis indicates why silver is an ideal choice if you’re planning to diversify your portfolio by adding a precious metal. 1. Silver is at record low…
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8 Money Rule of Thumbs That Will Make You Rich
There are many rules of thumb out there when it comes to life but what I want to write about are the most important ones that deal with money and getting rich. I love and rely on rules of thumb that help guide me in many facets of my life, especially managing my finances. A rule of thumb is a term for practical advice, a guiding principle based on theory or experience simplified enough to follow it (if we choose to) and yield success. What if we have the most critical rules of thumb about money to help guide us? I collected the financial rules of thumb passed on by…
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8 Money Habits of the Successfully Rich “Millionaire Next Door”
I have always been curious about the money habits of successfully wealthy individuals. Often, these habits were the catalyst that made them extremely rich. When we plan to achieve our goals, we require specific habits that will enable us to attain success and amass wealth. We can model these habits from others who are already successful. I have been a fan of the book by Dr. Thomas J. Stanley and Dr. William D. Danko called “The Millionaire Next Door.” The book is extensive research done by the authors on millionaires across decades of study. The research process included meeting over 500 millionaires in face-to-face meetings, and we learned many eye-opening…
