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Financial Literacy

How To Make Sure That Your Financial Vision Comes To Fruition

It doesn’t matter if you are on the verge of retirement, just graduating from high school, or planning a trip around the world, it is never too early to start planning for the future. With huge college loans and economy’s decline, it probably seems almost impossible to save and plan for the future. With that being said, you might be surprised to learn just how much of a difference a little bit of planning can make. With the appropriate plan, a clear head, and established goals, you can ensure that your future is well protected. Below, you will learn some tips and information that will help you make your financial vision come to fruition. Start Out With Short Term Goals If there is one thing that you can say about life, it is that it holds many uncertainties. A lot can and will change between now and 30 years down the road. This is why planning for the future seems like such a daunting task for many individuals. With that being said, this is why it is always better to set short-term goals, rather than long-term ones. Not only will the goals seem more attainable, but also the constant achieving ...

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Consumers Take Notice of Blockchain Technology

This new technology has started to change the global financial system. Many governments, financial institutions, small businesses, enterprises, and private individuals still doubt Blockchain along with cryptocurrencies like Bitcoin and ether. However, many people already find the platform useful and appreciate Blockchain’s use for cryptocurrency. Understanding the Novel Technology Digital experts describe the program as a one of a kind but useful distributed database or ledger (DLT). Consider it as a massive and global worksheet running on millions of the latest models of computers. Anybody can change the code due to the open-source feature. The peer to peer process eliminates the need for mediators or agents to settle and authenticate transactions. Blockchain utilizes high-tech cryptography and documents prearranged information like people who sent payments and their recipients. For Internet of Things, users require a settlement method beneath because banks cannot reconcile trillions of actual transactions that take place between things. Almost Instantaneous Processing People like cryptocurrencies because of practically split-second transactions happening within the DLT. Procedures for verification and recording occur immediately and make everything permanently. Distribution of the ledger takes place across multiple nodes, replicating data, and storing them instantly. After recording, the system files and settles details which ...

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How Money Transfers Work

Sending money online is a technology that most of us take for granted, even though the ability has only been with us for a few years. Today, we accept at face value that money we send in one part of the country will arrive safely in another part of the country in a matter of hours. Even sending money around the world is possible, making international payments as simple as filling out a form? How does this international payment system work, though? More importantly, why do banks trust it? The Lowdown on Money Transfers There are a number of ways to send a wire transfer, however, you want to be able to do it in the most convenient way possible for both parties. Veem is a platform for business to business payments in the most simple and inexpensive manner. This platform currently runs across 60 countries, and is continuing to add countries to make payments even that more convenient for businesses. The term wire transfer stems from a bygone era when financial transactions were transmitted via the telegraph. The telegraph wires transmitted the instructions and details of the transaction, which authorized the receiving institution to act. Today, the process is ...

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4 Ways Keeping Up with the Joneses Hurts Your Budget

4 Ways Keeping Up with the Joneses Hurts Your Budget

If you thought peer pressure ended once you graduated from high school, you are wrong. Peer pressure is around us every day in the guise of keeping up with the Joneses. It exists at work, where you may have a snobby coworker who brags about her new car or the hundredth new shirt she just bought but doesn’t even need. But, the pressure to measure up and keep up with the Joneses doesn’t end there either.  It’s also present among family members and friends who try to impress and outdo you every time the family gets together. Unfortunately all of this pressure can wreak havoc in your life if you aren’t careful. In fact, there are lots of ways keeping up with the Joneses can hurt your budget. Here’s how. 1. Makes You Spend More There are a lot of reasons you may try to keep up with the Joneses. One is because you may feel the need to fit in with your family, coworkers, or friends. Another is to avoid being ridiculed by others. A third reason could simply be your base competitive nature to “beat” someone else. None of the reasons really matter. The bottom line is that ...

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4 Ways To Take Care Of Your Finances If You Become Disabled

It’s challenging enough dealing with an accident or unexpected health condition that leads to a disability without having to figure out how manage your finances now that you can only work part time or not at all. However, there are five effective steps that you can take to get your finances in order fairly quickly. Let’s take a look at how to get some money coming in and how to manage your money better: 1. Apply for financial assistance. The first step to coping with your finances is to get some money flowing in as soon as possible and the best way to achieve this goal is to get some financial assistance. So, see if you qualify for Social Security Disability Insurance (SSDI), Worker’s Compensation, or Disability Insurance. Social Security Disability Insurance (SSDI): Social Security Disability Insurance (SSDI), will pay you and eligible members of your family if you have worked long enough and paid your Social Security taxes. The benefits are paid out based on your financial needs. SSDI eligibility includes factors such as your age and the nature of your disability. You have to be under 65 years old and your disability has to be a serious condition officially recognized ...

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