Guides & FAQs by Balancing Everything

Accounting Profit vs Economic Profit Featured Image

04.08.2022

Stefan

Accounting Profit vs. Economic Profit Explained

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...

29.07.2022

Stefan

Double-Entry Accounting

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...

Youngest Billionaire in the World Featured Image

29.07.2022

Jenifer

The Youngest Billionaire in the World

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...

How to Become a Billionaire Featured Image

15.06.2022

Jenifer

How to Become a Billionaire: 7 Doable Ways

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...

Billionaires in California Featured Image

15.06.2022

Jenifer

10 Billionaires in California & Their Success Journey

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,...

Who Was the First Billionaire Featured Image

15.06.2022

Jenifer

Who Was the First Billionaire & Who Come After

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 Industry Makes the Most Millionaires Featured Image

10.06.2022

Jenifer

What Industry Makes the Most Millionaires?

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...

What Country Has the Most Millionaires Featured Image

09.06.2022

Jenifer

What Country Has the Most Millionaires?

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...

How Many Millionaires in California Featured Image

08.06.2022

Jenifer

How Many Millionaires Are There in California?

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...

Chances of Becoming a Millionaire Featured Image

07.06.2022

Jenifer

What are Your Chances of Becoming a Millionaire

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...

Millionaire vs Billionaire Featured Image

15.06.2022

Jenifer

Millionaire vs Billionaire – Beyond the Difference in the Number of Zeros

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...

What Banks Do Millionaires Use Featured Image

03.06.2022

Jenifer

What Banks Do Millionaires Use

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...

How Do Millionaires Make Their Money Featured Image

02.06.2022

Jenifer

How Do Millionaires Make Their Money (7 Proven Strategies)

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...

Jobs That Will Make You a Millionaire Featured Image

15.06.2022

Jenifer

11 Jobs That Will Make You a Millionaire

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...

Binary Options Trading Strategy Featured Image

31.05.2022

Stefan

Binary Options Trading Strategies

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...

How to Get Out of a Car Lease Featured Image

30.05.2022

Stefan

How to Get Out of a Car Lease

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...

09.11.2021

Arnav

Credit Repair Cost

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...

31.12.2021

Milena

Cost of Having a Baby – Full Overview of Childbirth Expenses

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...

31.12.2021

Milena

Everything You Need to Know About SoftBank Group in 2022 + Infographic

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...

31.12.2021

Milena

Gas Prices by State – A Complete Overview

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...

Student Loan Debt by State Featured Image

31.12.2021

Milena

Student Loan Debt by State – A Complete Rundown

In 2020, the total US student debt surpassed $1.57 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...

31.12.2021

Milena

Tax Burden by State – Full Overview

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...

Economic Impact of Immigration Featured Image

31.12.2021

Milena

Economic Impact of Immigration – Debunking the Myths

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...

31.12.2021

Milena

Credit Card Market Share

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...

31.12.2021

Milena

Property Taxes by State – A Complete Rundown

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...

31.12.2021

Milena

Uninsured Rate by State – A Complete Rundown

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...

31.12.2021

Milena

DUI Penalties by State – Complete Overview and FAQs

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...

Best States to Start a Business Featured Image

31.12.2021

Milena

The Best States to Start a Business This Year

‘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...

31.12.2021

Milena

GDP by State — Stats and Trends

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...

Best Places to Invest in Real Estate Featured Image

31.12.2021

Milena

The Best Places to Invest in Real Estate

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....

Cigarette Prices by State Featured Image

31.12.2021

Milena

Cigarette Prices by State – Latest Data and Trends

Americans spend an average of $6.96 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...

Best Places to Flip Houses Featured Image

31.12.2021

Milena

The Best Places to Flip Houses This Year

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...

US States With the Best Job Market Featured Image

31.12.2021

Milena

US States With the Best Job Market – A Full Analysis

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...

Most Federally Dependent States Featured Image

31.12.2021

Milena

Most Federally Dependent States – A Complete Rundown

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...

31.12.2021

Milena

Corporate Taxes by State – A Complete Rundown

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...

31.12.2021

Stefan

Taxes on Inheritance – Facts, Figures, and FAQs

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...

How to Freeze Your Credit Featured Image

16.04.2022

Milena

How to Freeze Your Credit and When to Do It?

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...

09.04.2022

Milena

What is Credit Utilization Ratio and Why is It Important?

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...

07.06.2022

Milena

51% Attack – All Questions Answered

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...

31.12.2021

Milena

Credit Score Factors

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...

What Is a Balance Transfer Featured Image

31.12.2021

Milena

What Is a Balance Transfer and When to Use It?

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...

31.12.2021

Milena

Late Payments – All Questions Answered

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...

What Is a Good Credit Score Featured Image

08.04.2022

Milena

What Is a Good Credit Score and How to Achieve It?

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...

31.12.2021

Milena

What is a Hard Inquiry?

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...

Does Checking Your Credit Score Lower It Featured Image

09.05.2021

Arnav

Does Checking Your Credit Score Lower It?

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...