Economy

How Much is One Trillion Dollars?

A really long time ago, I remember when $20 in my wallet seemed like a lot of money. By the time my family was growing and the economy was booming, I needed $100 when I was shopping. Today, I need a credit card.

There’s a lot on the news lately about the federal budget and the national debt. I remember when a million dollars sounded like a lot of money. Then, it was a billion. Now, I often hear a trillion dollars on the news. How much money is that? Watch the video to learn more . . .

Video compliments of www.mint.com, a free site where you can track your finances and create a budget. You need to add your bank, credit card, home loan and investment account information – Not something I recommend. Then, Mint pulls in your balances, purchases, stock trades, etc. to give you a complete picture of your finances.

Who Are You?

Feb 19th, 2009

by Marilyn.

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Are you defined by the things you have? The things you buy? Are you in debt beyond what you can reasonably expect to ever repay? Are you always trying to keep up with your family and friends’ lifestyles?

Or are you defined by WHO you are? What are your values? What are your priorities? What do you truly believe in? Isn’t this much more important than stuff?

The recession is real and it’s not going away any time soon. It’s making all of us take a long, hard look at who we are.

Suze Orman had very good advice on the Today Show today. She said, “If you have the money – Spend it. But if you don’t have the money – You need to save it.” Great advice from an expert. If you’re digging yourself deeper and deeper in debt, it’s time to stop. It’s time to prepare for the future. Pay your bills – Mortgage/rent, utilities, car payment. But stop the non-essential spending – Going out to eat, movies, vacations. Find the money to start saving. If things get worse before they get better, you’ll be glad you have some money put away. And when the economy improves – And it will – You’ll have a habit of savings AND money in the bank!

Calculate Your Way Back to Financial Health

Dec 12th, 2008

by Marilyn.

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The first step to financial health is knowing where you are today . . .

Assets – What do you have?
Income – What do you earn?
Debt – What do you owe?
Expenses – What do you spend?

The next step is to set realistic goals . . .

Live within a budget
Pay off credit cards
Save for retirement
Create a college fund for children/grandchildren

The hardest step is finding a way to get from where you are to where you want to be.

Chase has several online planning tools to help. You don’t need to be a Chase customer to use the calculators. Chase Calculators.

For even more help, click on the Financial Education Library at the bottom of the Chase page.

Marilyn Kvasnok

Financial Health in a Volatile Market

Oct 10th, 2008

by Marilyn.

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We’ve become a global community. What affects the US affects other countries and vice versa. We are witnessing an economic upheaval of historic proportions. Turn on any radio station or TV channel and the news is the same. Everyone’s talking gloom and doom for the stock market and the economy. Scary, huh?

I’m trying hard to stay calm – and positive. A year ago, the Dow Jones Industrial Average hit an all time high just over 14,000. Today the market closed at 8,451.19, down 128 points. Historically, the market always surpasses the previous high – eventually. But, it’s hard to watch. And it’s disheartening to look at my portfolio.

I’m an investor, not a trader. Since I don’t plan to sell, the losses are just paper losses. So, I have a choice . . . Listen to all the negative reports and sell in a panic. Or listen to very good advice from a man I trust: John Bogle, Founder of the Vanguard Group.

Paul Kangas interviewed John Bogle on his PBS show, Nightly Business Report. Mr. Bogle’s advice is to just hold on. And if you’re dollar cost averaging, just keep doing it. With the market low, it’s a good time to invest in the long run.

Today I’ve been hearing that we may be close to the bottom. So, my plan is to keep a watchful eye on the market, but don’t sell anything now. And I’ll continue to re-evaluate as the days and weeks go by.

Marilyn Kvasnok