Automate savings One of the best ways to supercharge your savings is to automate them. Automating your savings means having a portion of your paycheck automatically sent to your savings account. Alternatively, you can set up regular transfers from your checking account. This cuts down the chances of spending money you meant to save since…
Start an “emergency fund” An emergency fund is your financial safety net. Without it, any unexpected expense, such as car repairs or a medical bill, can throw your budget into a state of chaos. Financial planners generally recommend having between three and six months’ worth of basic living expenses in your emergency fund. This figure…
It’s impossible to have an economy with 0% unemployment, but it’s also difficult to maintain low unemployment without initiating painful inflation. Since 1977, the Federal Reserve has focused on creating maximum employment and maintaining stable prices, commonly known as the dual mandate. Yet, maximum employment is difficult to quantify. The Fed on its own cannot…
I read the following CNBC headline this past week and was floored, but only for a second because that’s about as long as it took me to realize why: “63% of Americans are living paycheck to paycheck, including nearly ½ of 6-figure income earners” The cost of living has increased tenfold over the past year…
This past Sunday, the wife and I ran a few errands, stopped by the cemetery to visit my mom and grabbed a quick bite to eat. This isn’t out of the norm for us. It’s pretty much our standard Sunday routine. I was craving a steak — and not just any steak. I wanted a…
Analysts have been running around calling the bottom for the past year in hopes of being able to say “I told you so” six months down the road. Jamie Dimon, longtime JPMorgan Chase CEO, said of the latest financial shock in his annual letter: “The current crisis is not yet over, and even when it…
Several OPEC+ members are set to tighten global production by an additional 1.16 million barrels per day until the end of the year, further burdening central bank efforts to curtail global inflation. The clowns in D.C. have of course criticized Sunday’s announcement where eight OPEC+ producers said they would remove more than a combined 1…
Crude oil, the earth’s most in-demand commodity, has been traded globally on the United States Dollar standard for the longest time… But that may not be the case much longer. China has just completed its first trade of liquefied natural gas settled in yuan. The trade involved around 65,000 tons of LNG imported from the…