Have you ever wondered why banks or mobile providers are always ready to go the extra mile to keep you around? It’s because they know the actual cost of doing otherwise. Always try to keep your clients satisfied to prevent them from churning. Meet their needs, solve their problems, and ...
The Wall Street Journalwrites, The distinction—between buying bonds to stimulate the economy and doing so to bail out free-spending politicians—is important to economists and central banks. The controversial practice of “monetizing the debt” is considered dangerous because it could encourage profli...
All banks must keep a portion of their deposits as a reserve, based on a reserve requirement ratio. However, as of March of 2020, the Board of Governors decreased it to 0%. The Federal Open Market Committee oversees the Open Market Operations, where theFederal Reserve purchases or sells go...
The truth is, you need a specific type of personality and you need to withstand a certain amount of risk. It’s not one of those things that everyone should do—not even close. Ninety percent of the population should work for somebody else. [See the Secret to Living Well on $40,000 ...
Everyone knows that banks will freeze an account when reported stolen or if you have attempted fraud. For the average person who has neither of the above it can be frustrating at best and really problematic at worst. Open Your Account
Unlike banks where staff may not understand the specifics of marine purchases, a boat loan specialist has deep industry knowledge. The experts at Sterling Associates have years of experience guiding customers through title searches, marine surveys, and Coast Guard documentation. They are with you eve...
Banks would have us owning multiple bank accounts because they get paid to open and maintain those accounts. So, how many should one have? Checking We still need a checking account to be able to move money from one account to another. ...
“As an added bonus, you can use banks like Ally that have ‘buckets’ so that when you make transfers from one account to another, the money is diverted according to your priorities. For example, if you automate $500 per month to savings, $150 goes to your travel fund, $300 t...
In the case of quantitative easing, the central bank would announce its plans to slow asset purchases and either sell off or allow assets to mature, thus reducing the amount of total central bank assets and themoney supply. Central banks can hesitate to pull back on their QE policies due to...
Renting or leasing certain types of residential properties may have a service charge affixed to the monthly rent. For example, the tenant of acondounit may be required to pay a condo fee on top of the rent. The condo fee is a service charge for general cleaning and maintenance of the bui...