Saving is a life skill that many of us know we should be doing more of in order to be on track for a strong financial future. Most financial advisors recommend saving three times your gross salary as the best benchmark — but that could mean very different things for a lot of people. So… Continue reading How Much Should You Have Saved By 40?
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Can You Send a Wire Transfer from a Bank’s Savings Account?
Savings accounts or wallets are incredibly useful tools to assist you in reaching your financial goals more easily –regardless of whether those goals are long or short-term. When the time comes to use these tools, it’s essential to have an understanding of how they work. You may need to check with your bank if you… Continue reading Can You Send a Wire Transfer from a Bank’s Savings Account?
Why Would You Put Money Into A Savings Account?
Savings accounts are one of the most popular types of personal finance accounts out there because they are generally safe, easy, and usually provide some amount of interest as well. This isn’t to say, however, that saving accounts are for everyone. If you’re in a position to save money, however, putting some away into a… Continue reading Why Would You Put Money Into A Savings Account?
How Much Should I Have in my Savings Account?
Asking how much you should have in your savings account is a very common consideration that people from all walks of life ponder about. In all honesty, there’s no real answer aside from as much as is realistically possible, enough to prepare for a bad situation, and enough to live in relative comfort for the… Continue reading How Much Should I Have in my Savings Account?
How to Calculate Real Exchange Rate
Understanding exchange rates can be frustrating, and knowing when you’ve got a good rate even more so, with rates changing on a dime. The reality is that there are multiple calculations taking place, and the real effective exchange rate (REER) is calculated as the weighted average value of a basket of goods compared to what… Continue reading How to Calculate Real Exchange Rate
What is the Highest Currency in the World?
Currencies can fluctuate wildly, but some remain standout denominations that continue to be high year-round. The Kuwaiti dinar, for example, is considered one of the strongest global currencies. Whether making international transfers or considering trading currencies, it’s essential to have a firm grasp of the highest and lowest options, so you can determine what sort… Continue reading What is the Highest Currency in the World?
What Causes Exchange Rates to Change?
There is nothing more frustrating than making a withdrawal from your foreign currency account or paying for goods abroad — and finding out your bank account balance has dropped by much more than expected due to the exchange rate. One of the primary reasons a rate might change is due to demand for that particular… Continue reading What Causes Exchange Rates to Change?
What Factors Affect Currency Exchange Rates?
When transferring cash abroad, the exchange rate is the key cost element that reflects how much of a forgein currency you’ll get in exchange for your dollars. While multiple factors can cause exchange rates to fluctuate, the core driver is supply and demand. Simply put, the more requirements there are for a currency, the more… Continue reading What Factors Affect Currency Exchange Rates?
How Much Money Can You Take Abroad?
Traveling with cash can seem like a real grey area, but exactly how much money can you take abroad? If you leave the US with over $10,000, you will need to declare it on departure — and sometimes again on arrival in your destination. There are two primary issues here, which are also the main… Continue reading How Much Money Can You Take Abroad?
What is the Best Way to Travel With Money Overseas?
There are many options for traveling with money. Undoubtedly, the safest and most cost-effective is to choose a digital transfer service or a multi-currency account to keep your finances safe. But with multiple options from credit and debit cards, traveler’s checks, exchange services, and carrying physical cash, it pays to have a plan so you… Continue reading What is the Best Way to Travel With Money Overseas?
