To borrow some Ray Bradbury, photography is, more often than not, a lonely business. For most professionals in the field, taking the freelancer route has become par for the course and as a result, having insurance is an absolute must. This is why we moved to...
Accountants and auditors are an essential part of every business. These professionals make sure your numbers add up, perform audits, and run payroll. While the importance of accounting has always been the same, the job itself has changed over the years. So...
Registering general economic activity and financial transactions may be one of the most critical steps in the history of societal evolution. From counting stones to complex evolved ledgers, the practice has constantly been shifting, achieving greater heights...
The derivatives market is stronger than ever and continues to grow, and derivative instruments are an essential part of it. What are they, and how can you use them to your advantage, make a profit and reduce risk? If you give us a minute of your time, you...
Having a tight grasp on your books is essential when doing accounting, and making a clear distinction between each figure and how it ties into your bottom line is vital. With profit being one of the essential metrics of economic activity, knowing the...
Pretty much every aspiring investor has wondered what will get them to Wolf of Wall Street levels faster — options or stocks? And which of those financial instruments is riskier? That’s what we’ll find out in the following article, which explores...
Among the accounting methods, double-entry accounting is possibly the most popular, used in almost every organization nowadays. This method relies on duality, meaning that every transaction must be expressed in debit and credit. This concept is closely...
The accounting field offers a greater variety of jobs than you might be aware of. The skills and knowledge acquired through an accounting degree can set you up for a career in any industry. Whether you want to work in a corporate environment, independently,...
The accounting cycle is the process that a company uses to track its financial performance over a given period. The bookkeeping cycle starts with transactions as they occur and ends with the preparation of financial statements and the closing of the books....
Accounting practices are contingent on the industry, type of entity, and financial goals. For-profit organizations are focused on maximizing profits, while nonprofits, churches, government agencies, and associations care less about profit generation and more...
While every business and organization relies on assets, their value fluctuates over time, often subjected to market volatility, especially in the case of financial instruments. This is where mark-to-market accounting comes in to, well, account for those...
While it may sound boring, accounting has multiple benefits as a career choice, and if you’re dedicated enough, it could be a fulfilling profession. To be able to practice it, however, you need a degree in accounting that will set you up for a stable career...
While accounting is all about numbers, they are not the only thing that matters to keeping your books in order. So, let’s take a break from the numbers and look at some letters known as accounting abbreviations. We’ve listed the most important ones and...
Accounting automation statistics show that a whopping 80% of executives believe that accounting automation will create a competitive advantage for their business. Then, 49% of accountants want to automate repetitive tasks such as number processing and data...
The hospitality industry in the United States is keen on credit card transactions. In fact, many hotels and motels across the country will require your credit card details when you check in, even if they accept other payment methods, such as cash, debit...
Mutual funds are financial vehicles that pool investors’ money and put them in different kinds of securities. The advantages of mutual funds include higher diversification and lower cost of investment, professional management, flexibility, access to global...
How many people are using welfare? How big is the average welfare check? Which state gets the most funds? Read on to learn the answers to these questions and many other must-know welfare statistics and FAQs. About 41.5 million Americans were part of the...
College debt is one of the most serious financial issues Americans have been struggling with for the past two decades. Student loan debt statistics show that in 2021, Americans owe over $1.7 trillion. Even with all the financial aid, grants, and sponsorships,...
Just like all the other types of debt, credit card debt in the United States has been growing over the past years. Credit card debt statistics show that the total credit card balances in the country have reached $890 billion. Moreover, with a national average...
When you combine a family’s consumer and mortgage debt, you get the total household debt. The latest household debt statistics reveal that American families now owe more than $16 trillion. It also seems that US households are continually amassing balances...
The latest Federal Reserve consumer debt statistics show that Americans owe over $4.6 trillion in non-mortgage debts. Student loans, auto loans, payday loans, and credit card balances are among the factors that affect total consumer debt. Over the past...
While France has virtually no healthcare-related bankruptcies, about half a million Americans file for bankruptcy every year because of medical bills. These and many more medical bankruptcies statistics reveal the shocking effect of the soaring US healthcare...
Americans used to give more money to their church during the Great Depression than they do now. That said, church giving statistics reveal that the most significant share of all donations in the United States goes to religious organizations, including...
Did you know that Americans are one of the most generous nations and that the most significant share of donations comes from individual donors? According to charitable giving statistics, with the rise of online platforms and mobile devices, charitable giving...
No one is safe from identity and credit card theft. Children, seniors, and even military consumers can easily have their identities stolen without even knowing about the fraud. The latest identity theft statistics reveal that this type of fraud is on the...
Investing in life insurance as early as possible gets you the best price and the highest benefits. The latest life insurance statistics, however, show that most people fail to understand the importance of this coverage. Nearly half of all Americans have no...
The health insurance industry remains an essential part of the US economy. It employs millions of workers and helps consumers deal with the soaring healthcare costs in the country. And yet, the latest health insurance statistics show that over 30 million...
Less than 50% of American adults trust the Supplemental Nutrition Assistance Program (SNAP), and many believe most users abuse it. The latest welfare fraud statistics, however, show that the payment accuracy of SNAP is over 92%, while the food stamp...
Corporations hold trillions of dollars hidden in tax havens. The most shocking tax evasion statistics show such strategies cost governments worldwide billions of dollars. While plenty of countries struggle with this issue, the United States suffers the most....
Venmo hit the market in 2009 as a simple peer-to-peer mobile payment service. A few years later, it was bought by Braintree and joined the PayPal family. The latest Venmo statistics reveal that a growing number of millennials are using the app to transfer...
PayPal was established back in 1998 by Max Levchin, Peter Thiel, and Luke Nosek under the name Confinity. Two years later, Confinity merged with Elon Musk’s X.com, and, as they say, the rest is history. PayPal statistics show that the service has over 300...
Setting some money aside for the future is never a bad idea. And yet, the latest savings statistics show that Americans are far from living by that principle. An average US family has a bit over $40,000 in savings, which isn’t nearly enough for retiring by...
Nobody likes to think about car accidents. That, however, doesn’t mean that they don’t happen, and that’s when people realize the importance of having car insurance. Did you know that inexperienced drivers, married couples, and women pay more for...
The latest financial literacy statistics suggest that people worldwide still need guidance in handling their money. While financial literacy is essential for amassing wealth and avoiding debt, both youth and adults lack this knowledge. What is inflation, how...
Credit cards date back to the 50s when the first-ever Diners Club card hit the market. They have become a vital part of every person’s finances thanks to their convenience and benefits. In the United States alone, there are more than one billion cards in...
While still commonly used, cash is slowly giving way to credit cards and other digital payment methods. To keep track of this trend, we made a list of the most essential cash vs credit card spending statistics. Usage of cash in the United States, for example,...
Did you know that the average period Americans need to reach a net worth of $1 million is 28 years? That’s one of the many impressive millionaire statistics we will cover below. After all, everyone wants to peek inside the luxurious world of expensive...
With an average annual growth rate of nearly 25%, the financial technology industry is among the fastest-growing worldwide. The latest fintech statistics suggest that the sector should hit a value of almost $310 billion by 2022 if this positive trend...
The first coupon in America was issued by Coca-Cola back in 1888. Coupons have since become a popular and widespread marketing strategy, the latest coupon statistics reveal. Consumers love them as they are convenient and save them money. Businesses meanwhile...
Millions of people worldwide spend trillions of dollars every Black Friday and Cyber Monday. Each year, Black Friday statistics reveal that the shopping craze during these days isn’t slowing down, even if there is a notable shift online. Consumers...
With the latest holiday spending statistics revealing only slight drops in sales for the most popular shopping dates, nothing can stop consumers from spending cash on their favorite holidays, not even a global pandemic. These figures show that Americans are...
About 90% of Americans celebrate Christmas every year. Marking the date, however, goes beyond coming together and enjoying the company of your friends and family. In fact, the latest Christmas spending statistics show that Americans and Christians worldwide...
Every February 14th, couples around the world celebrate their love and relationship. This day is much more than a simple celebration, as Valentine’s Day sales statistics show. V Day is, in fact, an important date for economies worldwide, generating...
Americans spend over $750 billion on groceries a year. Grocery shopping statistics show that the weekly average spent on groceries is $120, while the average time spent shopping is 41 minutes. Overall, the grocery store industry is an essential part of the US...
Even if you’ve never needed one, you probably have heard of payday loans. These ultra-short-term, high-interest loans are the only source of immediate funds for many cash-strapped Americans. However, as these payday loan statistics show, there’s a lot...
Credit makes the world go round by fueling consumption. However, the going can get pretty tough for consumers with low credit scores, affecting their ability to take loans, use credit cards, and more. If you have been in such a situation or are interested to...
If you miss several mortgage payments, possession of the mortgaged property goes to the lender. This process, called foreclosure, is among the scariest things that can happen to homeowners. Not everything is terrible, however. The latest foreclosure...
Insurance can be an amazing tool to protect your assets and integrity. Unfortunately, given the nature of this type of contract, abuse and fraud are fairly common. That’s why we prepared a list of insurance fraud statistics to show you the dark side of this...
Mortgages can be a necessary evil or a blessing, depending on how they are used. While the idea of taking out a mortgage and the consequences involved can be overwhelming, homes, as well as mortgages, can also be viewed as a product like any other. That’s...
Regardless of whether you’ve been bitten by the trading bug or are just interested in knowing what people around you are talking about, we have some essential trading statistics to give you a clear overview of the industry. The fascinating world of trading...
Shopping online has been around for quite a while now — over a quarter of a century, in fact. It, however, received a significant boost during the pandemic and related lockdowns which forced people in front of computer screens. That’s why we...
While the COVID-19 pandemic negatively impacted a lot of industries, ecommerce is not one of them — the global pandemic gave a boost to a sector that had already started gaining momentum. Online shopping, therefore, has become the preferred method of...
The rising costs of veterinary care and medicines have made health insurance for pets more critical than ever. That’s why we prepared some essential pet insurance statistics to give you an overview of the industry. Whether you are a pet parent interested in...
Nowadays, an invisible force is following Americans everywhere, guiding their decisions and impacting their actions. No, we’re not talking about something supernatural here – it’s just their credit score! This magical number has helped develop the...
Snapping moments in time is a wonderful and amazing gift that modern technology brought to us and that we often take for granted. Nowadays, photos are everywhere, from our walls to our screens. In fact, we can snap a photo and send it across the globe with...
The construction market in the US—one of the largest in the world—is at a particularly critical juncture, with both major challenges and opportunities. The last decade has been a roller-coaster ride for the construction industry. The following...
In 2021, the total US student debt surpassed $1.59 trillion. Americans are the nation with the highest college debt in the world, with the trend of growing student debt balances showing no signs of slowing down. Do you know the stats on student loan debt by...
Tax burden represents the proportion of Americans’ income paid in taxes. In the United States, where you live can heavily affect how much of your annual salary goes to state coffers. That’s why knowing and understanding the tax burden by state is...
Scoring a good APR is essential, especially if you often make late payments. The average credit card interest rate in the US has been moving between 12% and 17% over the past several years. This average changes every quarter depending on the latest card deals...
Have you ever wondered why cigarette prices are so different across the nation? The main culprit is the difference in the cigarette tax by state. That’s why New Yorkers pay more than $10 for a pack while it costs $4.91 on average in Missouri. Cigarettes and...
In accounting, APIC refers to the additional paid-in capital generated during the initial public offering of the company’s shares. In this article, we define APIC in accounting, how it works, the formula, an explanation of related terms, benefits, use, and...
Health insurance is essential for a person’s wellbeing, but also their financial state. Not every US state, however, can boast high rates of insured residents. Some states like Texas and North Carolina, for example, have millions of uninsured citizens....
Driving under the influence not only puts you and other people in danger, but it also can earn you a hefty fine. Residents in some states may even have to serve jail time or do community service. Repeating offenders risk losing the license for good, too. What...
The gross domestic product (GDP) represents the monetary value of all services and goods made in a country within a given period. Experts use GDP to establish a country’s economic state and potential. While usually calculated for countries, in the United...
Investing is one of the cornerstones of building personal wealth. Real estate, meanwhile, is a proven way to capitalize on your investment in the long run. It, however, can also be a disastrous step unless you know where and when to purchase properties. ...
Americans spend an average of $6.43 for a cigarette pack. Not all US residents, however, pay the same price to satisfy their smoking habits. New Yorkers, for example, pay double the price paid by those in Missouri. Meaning, smoking two packs per week will...
Finding the job of your dreams isn’t always easy, especially if you live somewhere with limited employment opportunities. When it comes to work, not all states were made the same. There are regions where workers get more money and access to numerous job...
House flipping isn’t dead. While the profits have been dropping for the past eight years, American house flippers can still earn hefty sums. For successful projects, however, you must know the best places to flip houses in the United States. What to look...
Some US states have a low federal dependency and pay more in federal taxes than the amount they receive in government aid. Other states, however, heavily depend on federal contracts, grants, and different types of assistance. In those cases, federal funding...
‘All glory comes from daring to begin.’ While its origin remains undetermined, this quote carries a strong message, especially for future business owners. Starting your own company takes determination, hard work, and thorough planning. Even if luck is on...
There has been an ongoing debate over the economic impact of immigration in the United States. Despite the nation’s origins, many believe that immigrants do more harm than good, replacing native-born workers, reducing wages, and burdening the welfare...
Property tax is the amount you pay to authorities on personal or business properties you own. How much you pay depends on several factors, one of which is your state of residence. That makes it essential to know the property taxes by state next time you plan...
In addition to the countrywide federal corporate tax, individual US states have their own corporate charges. Meaning, depending on where you register your company, you may have to pay more than 21% in corporate taxation. But what exactly is corporate income...
Whenever someone mentions credit cards, an average customer thinks of Visa and Mastercard. There’s so much more to the industry, however. While Visa dominates the market and boasts the largest credit card market share, there are other players not to...
People thinking about entering the options market are often discouraged by the complexity of the matter and the risks involved. The risks of options trading, however, also mean that there are profits involved, and to help you get to them, we’ve prepared...
When a parent, partner, or friend passes away, they may leave all or a share of their wealth to you. What many Americans don’t know, though, is that they sometimes need to pay taxes on inheritance for what is left to them by the deceased person. The amount...
An American’s 401k plan is a savings fund sponsored by the employer. These funds go to a separate account and can be used for investing and growing your retirement income. Do you wonder what the average 401k balance by age is? How much money do you need...
Healthcare expenditure is one of the most important policy items for any country’s government, affecting people at a fundamental level. The COVID-19 pandemic has made this an even more pressing subject, with a country’s ability to combat the disease...
Social security in the US is vital for the country’s working population. That said, few actually know how it functions exactly. That’s why we’ve compiled these handy social security facts and statistics that will help you understand the nuts and bolts...
The growing debt of the United States has been a matter of discussion for several years. Given the country’s position as the world’s biggest economy, this issue impacts everyone’s lives. These essential statistics on the US national debt by year give a...
There are a lot of similarities between futures and options, making people think it’s the same thing. However, one of them is an obligation, while the other one is a right to close a deal. To explain all that in detail, we set out to compare futures vs...
If you need a stable, short-term investment with a predictable return, marketable securities are a good choice. These financial instruments are fairly low-risk investments and can be quickly turned into cash. Given that where there is low risk, there is low...
How aware are you of the different credit repair laws in the US? Do you know of the variations in credit repair laws by state? Before hiring a professional to help you improve your credit rating, you need to know your rights and the rules credit repair firms...
Becoming a billionaire is a dream for many and a lot of those that do achieve it do so at a later stage in their lives. Yet, there are a lucky few, who, either through hard work or fortunate origins, achieve this status with their whole lives ahead. So, who...
There are more billionaires in California than in any other state in the US, and several factors are contributing to this. Apart from having the largest population, it’s also home to Silicon Valley where the world’s high-tech corporations operate. So,...
In 2021, Forbes listed over 2,755 billionaires worldwide, and this number just keeps growing. Every single one of these billionaires has a unique story about their journey to success and fame. But who was the first billionaire this world has ever had? If...
What is the difference between a billionaire and a millionaire? While making the distinction should be a no-brainer in theory, sometimes the terms are used interchangeably. That’s why we decided to take a closer look at the millionaire vs billionaire...
So, you want to be a millionaire? Well, who doesn’t? While not everyone is born with a silver spoon in their mouth, there are jobs that will make you a millionaire. Statistics show that nearly 80% of American millionaires are self-made and didn’t...
While becoming a millionaire sounds fairly doable through hard work and some luck, going to the next level is often considered nothing more than a pipe dream. But what if it were possible? If you’ve ever wondered how to become a billionaire, this article...
While tech is often touted as the industry that can take you from rags to riches, interestingly enough, this is not the sector that produces the most millionaires. Yes, there are certainly a large number of millionaires in Silicon Valley, but other industries...
Millionaires are a rare breed. Some people might think that they’re all born with a silver spoon in their mouth, but that’s not always the case. In fact, many millionaires have made their fortunes through hard work and dedication, and in some...
Aptly nicknamed The Golden State, California is home to some of the richest people in America. In fact, according to a recent study by Forbes, it has more millionaires than any other state in the country. The top 10 richest Californians have a combined net...
Does a blockchain network disruption caused by one person or an organization sound scary? Well, this is precisely what could happen in the case of a 51% attack. The potential cost of such an event would be $1.4 billion. While this malicious scenario is highly...
Becoming a millionaire is a dream for many people, but for most, this remains a dream until they die. The sad truth is that the chances of becoming a millionaire are quite slim. Statistics show that there is about a one in thirty chance that any given person...
While bank accounts are something pretty much anyone has these days, only some are fit to handle the wealth of the rich. So, what banks do millionaires use? If you are curious to learn where the other half banks, you’ve come to the right place. We’ve...
There are many ways to become a millionaire. A lucky few were born into wealthy families or inherited their millions. But how do millionaires make their money if they were not as fortunate? The truth is, there is no one-size-fits-all answer here either. We...
Trading options can be a successful and profitable experience, but only if you use the right binary options trading strategy, especially if you’re just starting out. That’s why we took it upon ourselves to explore different tactics for those that want to...
Sometimes getting what we want is not what we need after all and getting stuck in a lease you can’t or don’t want to pay off is one of the possible consequences. If you’re facing such a conundrum and must quickly find out how to get out of a car...
In 2021, the Federal Trade Commission received 2.8 million fraud reports, and about $5.8 billion in losses were recorded. It’s, therefore, a good idea to know how to freeze your credit, which is one of the best ways to protect yourself from fraud and...
When talking about credit score and financial health, one of the most important factors is the credit utilization ratio. In short, this number represents the used percentage of your credit. Depending on how you handle it, you can ultimately build your...
What is a good credit score, and why is it so important? Well, let’s put it like this. Will you get approved for that car loan you need? Is the bank going to greenlight your mortgage? These are some of the things that depend on your credit score. Your FICO...
A credit score is a magic number that reveals a person’s financial reputation. Represented by a three-digit number, this score has a massive impact on the life of American adults. Hard inquiries are among the several things that negatively impact your FICO...
A payment is an amount of money a person owes and needs to send to a service provider or lender. Installments have due dates and missing one would result in missed or late payments. Both late and missed payments have numerous adverse effects on the person and...
Around 43% of Americans with a credit card also have credit card debt. A balance transfer is one of the ways to deal with paying the interest on that debt. But what is a balance transfer exactly, and what are the costs associated with it? Are you interested...
Several credit score factors can improve or lower your FICO grade. Not knowing what those factors are or how to monitor them accurately can have serious consequences. Your score may drop significantly and, therefore, severely impact your creditworthiness. As...
Living in one state or another can come with lots of benefits and drawbacks. How much you pay for gas is one of the things that vary in different jurisdictions. With the gas prices by state drastically differing, filling up your tank in some states can save...
Back in 1984, a Japanese entrepreneur presented a 300-year plan to make his company the largest in the world. His name was Masayoshi Son, the person behind the international conglomerate and tech giant SoftBank Group. Like the Japanese investor and...
Banca Monte dei Paschi di Siena is the world’s oldest operating bank, having opened back in 1624. As the banking stats below show, many things have changed in the lucrative banking industry ever since. These days, the sector’s global market...
Besides being a special moment in any person’s life, childbirth is also a significant part of the economy. The cost of having a baby differs based on where you live and whether you’re insured. About four out of every five dollars spent on newborn health...
Americans’ monthly grocery expenditure varies drastically and depends on factors like age, state, and budgeting. The average food cost per month can be a few hundred dollars for singles and over $1,300 for families. Consumers with a liberal food spending...
Americans are drowning in debt, and the largest share comes from mortgages. The country’s average mortgage debt is over $215,000, and the segment has been on the rise for years now. Yet, not every American owes the same balance when it comes to...
Being aware of utility expenses is essential regardless of whether you want to buy a home or relocate. The average utilities cost is an expense people deal with monthly, even when they don’t own the property. Electricity, water, and internet are among...
Human life is priceless. The goods and services required to sustain it, however, do have a finite price tag. Assessing the average cost of raising a child before making a baby may seem cynical. Still, it’s much better than not doing it and potentially...
In the United States, the total mortgage debt stands at $10.44 trillion in the second quarter of 2021. This debt is repaid via monthly installments that vary depending on various factors. According to one source, the average mortgage payment in the...
Our lives become more digitized by the day, with a growing number of activities moving online, and shopping is no different. But how many ecommerce sites are there and how do they stand against the good-old brick and mortar? In this article, we will look over...
About 69% of employed and 55% of unemployed Americans have taken a vacation. In 2019, before the COVID-10 pandemic disrupted the world, 52% of Americans were planning to travel during the summer months. To plan holiday spending successfully, it’s...
It’s no secret — the average cost of college stateside has skyrocketed in recent years. In the good old days, baby boomers were able to support themselves through higher education with just part-time summer jobs. Nowadays, millennials are struggling...
Health insurance is a controversial subject in America. Compared to other developed countries, the States are falling behind on providing affordable healthcare for their citizens, but this is the price to pay for the nation’s otherwise high standard of...
The Internet has become so ingrained in our everyday lives that most of us can’t even picture a world without it. So, when going over the prices of utilities and planning your household (or business) budget, you must also consider the average cost of...
Along with the inevitable passage of time, there comes a moment in every person’s life when the average nursing home cost becomes a topic of interest. It is a difficult choice to send your elderly relatives to a nursing home. Still, such care facilities...
Taking care of a dog involves a lot more than just owning it. You are responsible for a living, breathing being, and this task is both difficult and costly. So, how much does a dog cost? The cost of dog ownership can be quite high but regardless, most dog...
Housing is one of the most basic human needs, and the demand for it will never cease to exist. Despite the slow-down caused by the crash of 2008, the housing market value has been growing steadily since, with the average cost of a house even overtaking...
Nobody likes to think about this but at some point, we will all reach the same final destination. Making preparations for that day, either for yourself or a loved one does involve some financial decisions, as well. We have compiled all the details regarding...
While no one likes to think about getting injured or sick, it’s part of life. This makes health insurance an absolute necessity, especially in the US where the costs of healthcare can soar to exuberant levels. Navigating through the market of providers...
You may have heard people referring to salaries by a number of figures. This figure of speech (pun intended) has become so commonplace, we don’t really think about it anymore. And we should, since understanding these references could make a difference in...
Are you planning to tie the knot and would gladly learn and apply methods to create a realistic budget? Undoubtedly, saying ‘I do’ seems much more manageable than projecting the overall wedding budget and sticking to it. While the COVID-19...
How much does credit repair cost? That’s not an easy question to answer but we’ll do our best with this article, which will also give you an overview of what credit repair is and why you might need it. So, read on to learn what factors into credit repair...
Does checking your credit score lower it? How many times can you check your rating within a month? How to track your credit score without hurting it? We have all the answers you need to track and improve your FICO score – that three-digit number that...
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