Category Archives: Learn Something
College Dropout Rates Around The World
If you’ve spent more than 2 days on this blog, you’ll find that I am BIG on education. I’m all for education as a means of both learning and wealth building. Traditionally, we have been taught that finishing high school and pursuing a college education is the way to go, but unfortunately, many people do not finish college and instead drop out.
Did you know that the U.S. has the highest college drop out rate in the world? According to a new study by Fidelity, 70% of the class of 2013 is graduating with an average of $35,000 in college-related debt including federal, state and private loans, credit cards and debt owed to family. Many college dropouts leave with debt that might be hard to repay.
How to Prepare for Your International Move
There are many things that can take us away from our current location. Perhaps you currently live away from your family and your parents now need care. Or, maybe you just got a new job that will require you to move out of the country. Or perhaps you’ve finally decided to check a few items off your bucket list and seek adventure another country. Whatever the reason, you will need to be sure that you are thoroughly prepared and that everything is in order before you make this important move.
Stock Up On Cash
No matter which country you move to, money talks. Now, keep in mind that you can’t take excessive amounts of physical cash with you through the airport (typically no more than $10,000 unless you like being detained for hours while the government checks to see if you are laundering cash), so plan to take just what you will need to sustain you for about one week. By taking this cash you will be able to pay for food, shelter and whatever incidentals you incur upon your initial move.
Tracking the Journey of the Global Superwealthy Infographic
I’m the kind of person who avidly awaits the annual ranking of most wealthy individuals. I like to see how their net worth of the world’s wealthiest individuals fluctuate and just what made them so wealthy.
While there are more than 29 million individuals worldwide with a net worth greater than $1M, there are 3.1 billion people with a net worth of less than $10,000. With a net worth just abut breaking even, I’m in the latter group. Today I’m sharing an infographic showcasing the wealth gap.
Don’t Turn Old Bills Into Zombie Debt
The zombie apocalypse is real, and it’s eating your money. Well, it’s trying to anyway, and you might unknowingly be helping them.
If you’ve every received a phone call or letter in the mail demanding payment for a debt that is years old, you might have unfortunately have zombies knocking at your door. Some debt collectors have a way of resurrecting debt that is so old that is might actually be outside of the statutes of limitations for collection. We call that zombie debt.
What Does a ‘No-Cost Refi’ Really Mean?
The pitch for a no-cost refinance sounds pretty attractive: replace your current mortgage with a lower-interest rate mortgage and pay nothing for the privilege of doing it. But before signing on the dotted line, it’s important to realize that “no cost” doesn’t typically mean “free” when it comes to refinancing.
The true meaning of “no cost”
No-cost refis usually mean that borrowers won’t pay upfront costs to get the new mortgage loan — so they might better be called “no-initial-out-of-pocket-cost refis” — but that doesn’t mean the loan won’t cost in the long run. In general, there are two ways a lender can offer a no-cost refinance:
What Is A Structured Settlement?
For those who aren’t incredibly familiar with law based terminologies, a structured settlement is a scenario where the person/company who went on to file a lawsuit gets the amount in the form of periodic payment. In simple words, the case doesn’t go to trial and there is an out of court settlement. The amount that the claimant has been awarded as part of the settlement is given in a series of installations. The term of structured settlement is opposite to the lump sum settlement where the entire amount has to be paid up front.
Legal Scenarios
Structured settlement is often applicative in the case of product liability or injury cases. The case varies from personal injury to of a large group of people being affected. An example is where a pharmaceutical company is sued if the drugs manufactured causes negative health complications. This transforms to a corporate level case. A pharmaceutical company was sued because one of its drugs (Thalidomide) was causing health issues in children. This was the first instance that a structure settlement was used.
Americans Are Unprepared for College
I’m constantly writing about education leading some of you to wonder why, especially since this is a debt and frugality blog. I firmly believe in educating oneself to the best of your abilities, whether that includes traditional school or through self-taught methods. Your education – or lack thereof – has a serious ability to impact your earning power. According to the Bureau of Labor Statistics, the average weekly income for someone with a high school diploma was $638, compared to $1,053 for someone with a Bachelor’s degree.
As you have already heard countless times, Americans are falling behind other industrialized nations with regards to education. How badly are we doing? Well, according to the infographic below, 1 in 4 American college freshmen do not complete their first year of school.
As the world becomes smaller through the development of technology, how can we expect to compete with countries churning out highly educated and motivated young adults in the global job market? If you have a kid at home, this infographic is for you.
I'm Too Cold For This
Things to Consider When Living in Two States
California Wine Bigger Than Bordeaux?
Thanks to the Golden State’s favorable climate and fertile soil, the California wine industry is thriving. But just how big is the business of the Golden State’s wine? According to some recent studies, it’s huge! The infographic below gives some information about the wine industry.
