One. Million. Dollars. It’s the holy grail of saving. At some point, we’ve all imagined obtaining the title of “Millionaire”. But what does it take to save $1,000,000? Is it actually an attainable goal for a normal person or is it just a fun fantasy to play out in our […]
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Budgets Are Hard: How We Manage Our Finances Without One
Read almost any financial self-help book, blog, or article and one of the first recommendations will most likely be to create a budget. The authors will say things like, “Having a detailed budget is one of the keys to managing your money” or “Regularly tracking your income and expenses will […]
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Why Saving Money In The Bank Will Leave You Broke (Part 2)
In Part 1, we discussed the role inflation plays in the deterioration of wealth over time. As we demonstrated, when money is not growing at a faster rate than that of inflation, its purchasing power will be continually diminished. Because bank accounts yield growth rates much lower than inflation, leaving […]
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Why Saving Money In The Bank Will Leave You Broke (Part 1)
In 1923, Germany began printing and circulating two-trillion mark banknotes. That’s a “2”, followed by 12 zeros (i.e. 2,000,000,000,000) on each individual banknote! What would cause a country to print such a large denomination of their currency? The answer is, Inflation. Inflation is a sustained rise in the general price […]
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