It’s the most important investment—and the largest asset—that most people will ever make and own. It’s volatile in price, difficult to manage, and subject to sudden and total loss. For many, it’s also their hope of a secure future.
In a society where we pay bills online, transfer money via the internet, and can buy virtually anything on the web, would you be surprised to know that a currency has been developed that only exists in digital form?
BitCoin is a currency invented not by a government, or a large bank, but by a person or perhaps few people, nobody actually knows exactly who. It has no government backing, no tie to any precious metal and is entirely unregulated. However, on the afternoon of Monday, September 16 the exchange rate for one Bitcoin was more than 126 dollars.
Staying more frugal than foolish is increasingly complicated. Sources for financial advice no longer come from a few trusted sources, and in the realm of the 24-hour news cycle, there are more and more venues for amateur advice. On this Monday's Central Standard, our CA$H MONEY CLIQUE discusses where to turn.
Payday loan shops provide small, short-term loans. A typical loan ranges in size from $100 to $500, and must be repaid within two weeks. The industry contends that such loans help people pay for unforeseen expenses.
But many people believe that such loans are harmful because of the amount of interest charged. In the state of Missouri, the average APR on payday loans is above 400%.