Is Tether A Good Investment?

Computer Store, Tuscaloosa (1991)

Source: Youtube/Theleeoverstreet

Hi, I'm mid 20s just now trying to build credit. Do you have anything that's like, explain like I'm 5, cause I really don't understand and I'm feeling like I'm playing catch up with my life. From picking a card, to actually building it?

Okay, so building credit sounds super complicated, but I promise that it's not. A lot of the complicated things, like calculating your credit score, are done by other people. Your job is to spend money so responsibly that it impresses the people doing the calculations.

Building credit is very important these days, and no credit score is even worse than a bad credit score. It is important to have a credit card, even if you don't need to borrow money and you have enough. This is so that one day, if you have a $20k medical emergency, or you want to buy a house and you need, like $500k, your bank trusts you enough to give you the money you need.

Credit is something (usually money) that you borrow for something. The example we'll use for this post is money being borrowed to pay for something. Your credit score ranges from 300 to 800, and as long as you're above 700, you have nothing to worry about.

Interest is the money you pay on top of the credit you borrowed. If you borrowed $100 in credit with 10% interest, that means that you will pay the person back $110. The interest depends on so many factors such as how much money you are borrowing and who you are dealing with. So there is no set number.

There are four types of credit:

Revolving Credit - Like a credit card, where you get a certain limit of credit every month. If you use that credit, you can pay it back within that month with no interest, so just the amount of $ you borrowed and nothing else. If you don't, it'll roll over to the next month and you'll have an interest added on top of it.

Charge Cards - They are like credit cards, but you can't roll the credit onto next month. You have no choice but to pay what you borrowed in full that very month. This isn't as common these days but some banks might still offer this option.

Service Credit - When you pay for a month-long or annual service, like a bill. You get that service continuously, but you have to pay for that at a certain point. Think of it like Spotify Premium. You'll probably pay once a month for that, but you can enjoy unlimited music with no ads all month long. The same applies to rent and gym memberships.

Installment Credit - This is where the big money comes in. You use these for student loans and mortgages on your house or car. Assuming you have a good credit score, you might be interested in buying a house. The bank will pay the seller the money they need, and you'll have an agreement with the bank to pay them a certain amount, with interest, every month. The bigger the monthly payment, the smaller the interest, and vice versa.

The reason why everyone is so scared of credit is that if you don't pay your credit on time, the interest starts to pile on, and your credit score plummets. So, if you have an emergency tomorrow and desperately need to borrow money, the bank won't trust you so they won't give you the money you need.

But don't worry! It's not that hard to keep a good credit score! All you have to do is practice the following smart financial habits:

Get a Starter Credit Card. You will probably have a low credit limit, like $500 on it, maybe more, maybe less. But using that card is the first step towards building a credit score. You can set up your account to automatically pay your card in full every month.

Don't Spend What You Don't Have. If you're going to use the credit card, use it for something you were already going to get, like gas for your car. Make sure to pay the card back that day, or automate payments with your online banking accounts. Depending on which bank you're with, they should have an online guide on how to do that, but it's usually done through your credit card settings.

Spend Below 30% of Your Credit Limit. So if your credit card has a limit of $1000, you shouldn't spend any more than $300 a month, and make sure you have enough money in your connected checking account to pay that amount off that month. Some people swear that the magical spending number is 7%, so $70 on a $1000 credit card.

Only Get Loans if They're Unavoidable, and Pay Them Back ASAP. In a perfect world, you'll have enough money that you don't need to borrow a loan. Unfortunately, sometimes you have no choice, like with student loans. Your best bet is to agree on a monthly payment option that is as high as you can comfortably pay with low interest. This way, you pay it back faster and with less money wasted on interest.

To be completely fair, most of what I learned about credit was from the Bitches at @bitchesgetriches so if you have more detailed questions, I cannot recommend them enough.

💋

When a popular Neo-Nazi webcomic made this pro-Bitcoin comic in December 2017, Bitcoin was at $19,650. It crashed almost immediately after this comic came out, leading me to make this image on the one-year anniversary of this comic

Bitcoin then became mega-popular, and I got a lot of Bitcoiners sending me smug asks. 

Today, Bitcoin fell below $19,650 again, having lost 70% of its value since November, so I get to make an updated graphic

If seeing that bubble comic made you buy bitcoin and you HODLed for five years, you’ve lost money.

When a popular Neo-Nazi webcomic made this pro-Bitcoin comic in December 2017, Bitcoin was at $19,650. It crashed almost immediately after this comic came out, leading me to make this image on the one-year anniversary of this comic

Bitcoin then became mega-popular, and I got a lot of Bitcoiners sending me smug asks. 

Today, Bitcoin fell below $19,650 again, having lost 70% of its value since November, so I get to make an updated graphic

If seeing that bubble comic made you buy bitcoin and you HODLed for five years, you’ve lost money.

Student June Bronfenbrenner at an early Xerox machine photocopying a book, Milton S. Eisenhower Library, Johns Hopkins University, Baltimore, Maryland, 1976.

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Nature and Scope of Macroeconomics- A Complete Guide

Macroeconomics is a branch of economics that focuses on the study of the economy as a whole. The primary objective of macroeconomics is to develop models and theories that explain the determinants of key economic indicators and provide insights into how policymakers can influence them.

Here are some key aspects of the nature and scope of macroeconomics:

1. Aggregates and Averages

2. Economic Growth

3. Business Cycles

4. Employment and Unemployment

5. Price Level and Inflation

6. Monetary and Fiscal Policy

7. International Economics

8. Economic Policy Analysis

NFT bro