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Some insurance sales folks peddle a concept called Be Your Own Banker. Don’t fall for it.

This idea has floated around the Internet and late-night television for a while now. One of the latest versions, called "bank on yourself", shows what very bad advice it is.

The Idea Behind Be Your Own Bank

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When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whethe...

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Mid-August is the time of year that our kids pack the U-Haul and head to college. And while they’re excited about a brand-new semester, it can be frightening to see the cost – and rising college debt – that comes with the college experience. What can our college students do to ease the price tag?

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The Fed is growing the money supply and that will help the U.S. economy

Since 2015, the Federal Reserve has raised short-term interest rates nine times, including in December 2018, but all that rate-raising came to an end in the summer of 2019.

On Wednesday, July 31st at 2 pm EST, the Fed cut i...

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Vacations during the summer months might have you thinking about timeshares for resorts in places like Florida or Mexico. They seem like a fun idea for a winter vacation in the sunshine, as well as a good deal financially. They are neither.

Like Groundhog Day

One of the biggest problems with tim...

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The U.S. has not been debt free since 1835 – should you be debt free?

The National Debt

If you spend more money than you make, you are in debt. When the federal government spends more money than it collects, it is in debt. It really is that simple.

  • Debt Held by the Public = $16.17 trillion
  • I...

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