Economic Cycles in Business

Business cycles can be described as collective periods of expansion and contraction in the national economic activity of countries that organize their work principally in private business enterprises.

Checking Account Problems Can Hurt You

If you've ever been to a bank to open a new checking account, only to be halted halfway through the process and told that you couldn't do it, you're not alone. Millions of others have experienced the very same thing. The problem is that you have derogatory information in a large data-collection system, and it's not one of the credit bureaus.

The Importance of the Economy

The word "investing" is generally used to refer only to the buying and selling of stocks or other securities, which most individuals actually do not participate in.

How the Reserve Regulates Money and the Economy

The purpose of the Federal Reserve System is to exercise control over the country's banking reserves. It influences overall monetary and credit conditions, and thus movements in the economy, by actions which affect both the amount and cost of reserves of depository institutions.

Purpose and Organization

The Federal Reserve System was created by the United States Congress in 1913 in order to provide a safer, more flexible banking and monetary system. Over time, this original function evolved into the broader economic and financial objectives of facilitating the solidity and growth of the national economy, maintaining a high level of employment, ensuring stability in the purchasing power of the dollar, and maintaining reasonable balance in transactions with foreign countries.

The Cost of Borrowing Money

Interest and fees charged on a loan have the effect of increasing the cost of an object or service purchased with credit. Various methods which are used to calculate interest rates can mislead a borrower about the actual cost of a loan. The interest rate that you pay to borrow money is influenced by numerous factors relating to the type of loan that you choose.

The Right Bank can Save You $$$

The Federal Deposit Insurance Corporation is the government entity that insures your on-deposit funds up to $100,000. In other words, if the bank goes belly-up, you don’t lose your money. If the bank isn’t an FDIC-insured, move on. Nothing else matters.

Savings Account Basics

Savings accounts, which are offered by banks and credit unions, are very convenient ways of storing your money. Deposited funds are insured by the Federal Deposit Insurance Corporation for up to $100,000 total for all accounts in your name, so there's little risk of losing your money.

Pay Attention to those Fees

There are more types of bank fees to be wary of today than ever before. In addition to monthly service fees, we're hit with account balance minimum fees, nonsufficient funds fees for bounced checks, per-item fees for writing too many checks, teller fees for using the services of a bank teller, online-service fees and bill-pay fees for using the bank's system to electronically pay your bills.

Legal Protection for your Deposit Accounts

Federal insurance coverage for bank deposits, which is provided by the Federal Deposit Insurance Corporation (FDIC), protects depositors to a maximum of $100,000 at any one institution.