Accounting is like the language of business in that it can communicate how a business is doing financially. Accounting is a process that tells us how much money is involved in certain business and financial activities. In accounting, there are two types of users: external users and internal users. External users, such as banks and […]
In a capitalist society, money is power to businesses. Institutions that generate revenue — for-profits and non-profits, corporations and single-employee businesses, farms and automobile factories alike — eventually need to achieve solvency to be sustainable long-term. The economy cycles between periodic highs and periodic lows, and as much as businesses may want to prolong periods […]
It has become increasingly essential that we put aside money each year to save for healthcare. Today, we’ll go through two of the most popular tax-deductible healthcare plans: the HSA and FSA. Benefits of a Tax-deductible Healthcare Account Healthcare is an essential component of being able to live a worry-free life, as they can help […]
Over the past decade, technology and automation have disrupted many industries, from automotives to manufacturing. Recently, it has made its presence known in the wealth management industry, with the rise of automated money management. Allow me to introduce automated money management (AMM), an industry on the cutting edge of financial planning and the future. AMM […]
“Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth. Illiteracy, both in words and numbers, is the foundation of financial struggle.” — Robert Kiyosaki It’s no secret Americans fall short when it comes to financial literacy. In fact, only 57% […]
With tax season quickly approaching, many Americans are yet again faced with the daunting task of filing their returns. Taxes are nearly always given a bad reputation. This is due to their confusing nature and the incredibly mysterious tax laws that the United States currently has. However, understanding the tax system of one’s country is […]
Unfortunately, the total amount of consumer debt in the United States is about 13.86 trillion. The average American has about $38,000 in personal debt. Debt not only ruins credit as it can also lead to negative emotional effects like low self-esteem and stress. Luckily, there are ways to take control of your debt. Debt Basics […]
In 2018 alone, over 2.5 billion user accounts were hacked. Information including personal details, emails, and bank accounts was compromised. With more people using the Internet every day, hacking and identity theft are becoming a growing danger. As a result, people must learn good security habits in order to ensure the safety of their financial […]
Recessions are inevitable; like the old saying, what goes up must come down. At the time of the writing of this article, the economy has gone ten years without a serious crash. In the next recession, as in all others, many will lose their jobs and financial security. Many will see their savings wiped away […]
Only 40% of Americans are able to cover an unexpected $1,000 expense. This means that most Americans are in fact living paycheck-to-paycheck. A small car accident or an unexpected health issue would render most helpless and in debt. However, in America, a land of excess and consumerism, many choose not to emphasize saving. It is […]