Infographic: Employees Keen On Remote Working

Posted August 30th, 2012 in Economics by Jeremy Waller

The concept of remote working is slowly but surely being introduced by more businesses. I’ve been working remotely myself over the past 2 months.

I don’t think I need to tell you that it’s certainly something that employees like since it gives them so much more flexibility to how they approach their jobs.

Employers, meanwhile, can save money by allowing remote working and it can also radically change how they recruit new staff. I believe employers are finally starting to realize that they don’t need to completely control their employees and will have a more productive staff by allowing for some flexibility.

Remote working

Infographic: The Insanely High Cost of Higher Education

Posted May 23rd, 2012 in Economics by Jeremy Waller

Upon graduation, the average student has over $25,000 in student loan debt. Though, it’s not unusual to graduate with many times that amount.

If you are not strategic about where you attend college, what you major in and how you pay for it, you could find yourself out tens or even hundreds of thousands of dollars. And all of that time and money may set you up for a career that doesn’t pay much more than a fast food chain.

The Price of Higher Education

5 Reasons to Keep Your Credit Report Up To Date

Posted April 13th, 2012 in Economics by Jeremy Waller

Many people think that their credit reports reflect only up-to-date, accurate information, but unfortunately many people would be wrong. About 79 percent of reports contain some type of error, with 25 percent containing errors serious enough that lenders will deny you new lines of credit. Here are five reasons you should make sure that your credit report is up-to-date.

1. Inaccuracies

With over three-quarters of credit reports containing some kind of error, you need to make sure that you check your credit report every six months for any inaccuracies. Make sure all of the personal data on your report is accurate, including your name, address and social security number.

Double check to make sure that each account listed on your credit history is really yours. Make sure that every current account in good standing is included in your credit history and that each account is only listed one time. Nearly one-quarter of credit reports list the same loan or mortgage twice.

Read your credit history carefully, making sure that each credit limit is correct and every date an account was opened is accurate. Your credit utilization ratio and the length of your credit history are both important factors in determining your credit score.

2. Identity Theft

Identity theft is another reason you must check your credit report regularly. This crime involves a thief using your personal data to open up new credit accounts and accumulate all kinds of debt under your name. Most people don’t realize their identities have been stolen until collection agencies track them down for non-payment.

Regularly check the statements for your bank accounts as well. Once someone has your personal data, the identity thief can quickly drain your checking or savings account.

3. Unauthorized Charges

Sometimes credit account numbers or the actual credit cards themselves are stolen, making it easy for the thief to make all kinds of unauthorized charges on your accounts. Although you might be protected from actually having to pay off those unauthorized charges, all of the activity can have a negative effect on your credit history.

Make sure your credit history is up-to-date and you’ll catch any unauthorized charges and have them corrected before too much damage is done.

4. Tracking Your Payments

One of the most important factors for potential lenders is that you have a history of making timely payments. Bear in mind that even though you send in your check on time, a delivery delay can cause you to become delinquent.

Monitor your credit report and if you spot any payment errors, call your lender and explain the situation. They should adjust your information so your payment is listed as being on time.

5. Inquiries

Yet another reason you should keep your credit report up-to-date is to find out who has been making inquiries on your report. Potential lenders and potential employers both check out credit histories.

If you’ve been shopping around for new lines of credit or applying for jobs, all of those inquires add up, which creditors typically see as a big red flag. Make sure that every inquiry is one that you authorized.

In summary, you need to keep your credit report up-to-date for several very good reasons. A high percentage of credit reports contain errors, which you’ll want to correct. Reading your report will help you keep track of inquiries, payments and unauthorized charges.

Also check the financial statements for all of your basic bank accounts to make sure your identity hasn’t been stolen.

When was the last time you checked your credit report?

A Ridiculous Comparison Of The Cost of Everything

Posted November 24th, 2011 in Economics by Jeremy Waller

Ok so this is pretty awesome. xkcd has put together one of the most amazing infographics that I have ever seen.

You need to see this if you have ever wanted to see a comparison between:

  • The cost of Starbucks Coffee
  • A one gallon jug of loose change
  • The annual cost of owning a rabbit
  • The average cost of dinner for a family of 4
  • Per capita income of Germany
  • The value of a 1933 Double Eagle coin
  • The cost of Obama’s inauguration
  • The value of a solid gold toilet
  • The the net worth of Bill Gates
  • The US GDP
  • All of the tea trade in China
  • The cost to buy the Amazon Rain Forest
  • The Apollo moon landing
  • World War II
  • Size of the derivatives market
  • Total economic production of the entire human race
  • And about 1,000 other things (seriously)

Here are a few highlights: Continue Reading »

Keynesian vs Hayekian Economics – The Solution To Our Recession?

Posted November 7th, 2011 in Economics by Jeremy Waller

During the 1930’s John Maynard Keynes unleashed an economic storm that revolutionized government economic policy much of which is still being practiced today.

John Maynard KeynesKeynes recognized that markets do not work perfectly and that businesses do not always make decisions that are economically efficient. This can cause an economy to operate below its natural gross domestic product. When this is sustained for a period of time, supply exceeds demand.

When the demand for goods and services is insufficient, unemployment increases which decreases demand further which eventually leads to a recession.

The most severe of which, The Great Depression, was when Keynesian economic theory began to gain ground. Continue Reading »