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Credit Score Myths You Should Know (But Probably Don’t)

You should already know that your credit score is the lifeblood of your financial potential. Earn and maintain a great score, and you can rest assured that you'll qualify for the lowest interest rates being offered at the time of any approval. But if your score is low, then you'll be sweating it out to even see if you'll be approved for any sort of loan. While many people are familiar with the basics when it comes to credit scores and how they're calculated, there are still a lot of misconceptions out there. We've decided to take a closer look ...Continue reading

Turkey’s Currency Plummets: What Will Be the Global Consequences?

Turkey's currency fell 7% on Monday -- totaling a fall of 45% since the beginning of the year. Economic sanctions, rampant lending, and low interest rates have all contributed to a situation in which the Turkish Lira is in free fall, and it appears as though the country itself may be in dire economic trouble. Not only is Turkey experiencing strong levels of inflation, but they are also extremely reliant on both the United States and Europe -- and embroiled in threats of trade wars. Companies in Turkey have been borrowing cheap money from the United States. With the new ...Continue reading

Are You Prepared for a Recession? Analysts Say You Should Be

For the last few years, a recession has "been coming." Whether it will come tomorrow or five years from now, many metrics have analysts convinced that a recession is on the way -- and you need to start preparing now. Recessions can sound terrifying from a business perspective, but like most things they come with as many opportunities as they do challenges. Here are a few ways you can prepare yourself and your investments from a recession. Analysts Believe a Recession is Coming The United States has been preparing for the next recession since late 2017, with many analysts seeing ...Continue reading

China’s Online Lending Crisis Comes to a Head

On August 6th, 2018 China was forced to shut down the financial district of Beijing in order to prevent individual protests. Small business owners, entrepreneurs, and other individuals have been devastated by the recent implosion of China's peer-to-peer lending industry. It's possible this could have significant ramifications for China's consumers and their spending, in addition to having a direct impact on those who lost money. A Chinese Problem In China, peer-to-peer lending grew much faster than it did in other parts of the world. Similar to payday lending, small loans were available for those who needed them for emergency expenses. ...Continue reading

Halloween Retailer Party City Joins Amazon, Dealing a Blow to Retail

Amazon is teaming up with Party City, spelling another potential blow to the retail industry. On the surface, Amazon appears to be winning its war against retail, negotiating contracts with failing brick-and-mortar businesses such as Sears. This recent deal could very well be indicative of the future for retail businesses, though Party City appears to be optimistic about its chances at success. Party City to Sell Halloween Costumes on Amazon With over 900 locations, Party City is a major national chain. Party City was initially founded in 1986 and reports a revenue of $2.27 billion annually. Though it is a ...Continue reading