Do you know about compound interest? Albert Einstein once said that compound interest is the eighth wonder of the world. Yet sadly, many people do not fully understand the power behind it. If they did, they might make smarter financial choices and see their finances improve almost immediately. In this post, I’ll walk you through the basics of compound interest and show you … [Read more...]
JPMorgan Chase (JPM) is Charged with Corruption
JPMorgan Chase & Co. is in hot water again with at least three US government bodies, as it faces allegations of taking bribes. This time the company is expected to settle $130 million worth of fines to the Securities Exchange Commission, $72 million to the U.S. Department of Defense, and $62 million to the Federal Reserve Board of Governors, totaling $264 million. JPMorgan … [Read more...]
How Qapital Can Help You Save for the Holidays
It’s not even Halloween and the holiday ads are already starting. Goodwill toward man is free, but gifts for the people on your list can add up fast. We spend a lot of money on the holidays and not just on family members. We buy things that we believe will make them real happy. According to the National Retail Federation, Last year, Americans spent nearly $460 on gifts for … [Read more...]
Why Banking Stocks Are Not the Place to Be Right Now
If you can think of one type of business that always has money, what would it be? Chances are, you're thinking about banks. That same concept is why so many people feel comfortable investing in big banks like Bank of America. While that may be a good idea most of the time, now is not the time for big banks. Here's why... Where A Big Chunk Of Big Bank Revenue Comes From Big … [Read more...]
How to Avoid Checking Account Maintenance Fees
Most major banks charge you fees just to maintain a checking account every month. These fees are advertised as “low,” but are generally in the $3-$12 per month range. Let’s go right down the middle and say you pay $7/month. That’s $84 a year. It doesn’t sound like a ton of money, but when you consider you’re paying it to the bank just to hold your money, the ethics of the … [Read more...]
