Reassess Assets
In my opinion having a realistic perspective of what exactly an asset is will go a long way toward keeping you out of financial trouble. It’s a word we through around a lot (particularly if we’re sophisticated), yet too often it’s attached to the wrong thing. I’m not sure when it happens, but somewhere along the road of life we’re programmed with a somewhat misleading representation of what assets are.
FDIC – who does it really protect?
In 1933 President Roosevelt signed the Glass-Steagall Act establishing the FDIC. The intent of the government corperation was to restore public confidence in the banking system. Basically the FDIC insures deposits at member banks. Since it’s creation no depositor has lost a single cent due to bank failure. With a record like that what’s not to like about the FDIC?
But what if the FDIC is actually encouraging reckless behavior? What if it’s existence is taking away a much needed competitive aspect of banks?
Run on the Bank
What would happen if suddenly your bank were to fail? You go to get some cash or swipe your debit card at the gas station and there’s no money. I’m not talking about it being stolen or your account frozen for some reason. I mean your money is gone because the bank is gone. Nothing. [...]
How Banks Create Money
Ever wonder really happens when you deposit your paycheck in your bank account? Or what about your car loan or home equity line of credit, where did that money come from? You probably get paid interest for having your money on deposit with a bank or credit union, but why would the banks care about [...]
Balance Sheets Explained
Calculating your net worth is a great metric to measure your personal finances over time. It can give you a quick overview of everything you own and everything you owe on one simple sheet. These sheets are called Balance Sheets and they can be as detailed or vague as the preparer wishes. It’s important to know exactly what you’re looking at when preparing or reading a balance sheet because their simplicity can be deceiving.
Ditch Debt, Build Wealth
Welcome!
Hi I'm Deacon Bradley, the founder of Bedrock Coaching. I started this because of the incredible life change I discovered when I decided to ditch debt and live debt free!Bedrock Coaching teaches sound, fundamental personal finance methods that cause you to win every time. I'm committed to helping people achieve a life of financial freedom and teaching people about how money really works.
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