Category: Terms

What is collateral for a small business loan?

What is collateral for a small business loan?

Do you pay attention to the articles, notices, and other bits of information in your feed on LinkedIn?  If you don’t, you should.  I’m always finding something, particularly from those folks who are “influencers”. There was an article from Gary Swart (CEO of oDesk) who talked about the launching of new businesses in 2014 and his […]

May 7, 2014 | By More
Payable-On-Death and Your Bank Account

Payable-On-Death and Your Bank Account

As a website owner, it’s sometimes a good idea to review some of the core principles of the philosophy of your work.  For MoneyBasicsU, we’ve stated one of those points on our home page. “Once you make the choice to take action, you can begin learning one step at a time.” The operative phrase above […]

May 2, 2014 | By More
What is Interest Compounded Semiannually?

What is Interest Compounded Semiannually?

If you think you can escape from math as you’re learning the basics about money, I’m afraid you can’t.  Even at its most money basics level, there is always a little math involved.  And, I hate to admit it, since I’m a left-brained individual I tend to have more interest in the liberal arts than […]

February 6, 2014 | By More
Why Dividends are So Delightful?

Why Dividends are So Delightful?

How would you like to be a participant in a tradition that has been around since the 1600s? (1)  The tradition is becoming a shareholder (aka investor) in a company.  And, the benefit of that monetary support is enjoying the passive income of receiving dividends. You have likely heard the terms shareholders, stock, and dividends.  […]

January 31, 2014 | By More
The FAQ on Insufficient Funds in Bank Accounts

The FAQ on Insufficient Funds in Bank Accounts

If you are fortunate, you’ve never received this bad news.  Whether it’s via an alert text message, e-mail, or notice in the snail mail, the communication remains the same. Insufficient Funds! Depending whether you’re a student reading today’s Post or someone whose been working for a while, maybe you’ve not run into the issue of […]

January 29, 2014 | By More
Sales and Income Tax:  What’s the Difference?

Sales and Income Tax: What’s the Difference?

Have you ever started on a project that appeared fairly straight forward?  You don’t anticipate any speedbumps. You can get in and get out and you’re good to go.  I thought that would be the case on our topic of discussion today.   Essentially, we’re talking about the difference between sales tax and income tax.  It’s […]

January 28, 2014 | By More
The Money Smart Consumer and Caveat Emptor

The Money Smart Consumer and Caveat Emptor

Can you think of a circumstance or item you purchased that looked really good only to find out it wasn’t?  To be honest, I don’t think there is a person reading today’s Post that hasn’t experienced it.  The first example that comes to mind was when I was trying to cost cut.  I itemized a […]

January 24, 2014 | By More
Why You Need to Know Bank & Economic Terms

Why You Need to Know Bank & Economic Terms

Are you familiar with the term amortization?  How about capital requirements?  Do you know what the acronym NASD stands for?  I’m guessing you won’t be surprised when I tell you it’s important to possess a working understanding of many bank and economic terms.   Don’t think it’s just an academic exercise to become familiar with monetary terminology.  […]

January 13, 2014 | By More
Banking Basics:  What is ACH?

Banking Basics: What is ACH?

Today is a pretty nifty Post for you to read.  The reason is because the concept of ACH is truly at the heart of financial transactions between banks throughout the U.S. today.  And, a lot of consumers don’t understand what ACH is and how it’s really used.  Here’s a factoid for you.  Over $36.9 trillion […]

September 5, 2013 | By More
What does “Quarterly” Mean Related to Reporting?

What does “Quarterly” Mean Related to Reporting?

At the first bank I worked for, I was involved in board meetings that convened on a monthly basis. Believe me, when corporate board meetings are held that often, they come around really fast.  When the bank directors voted to change the board of directors meetings to every quarter, I was quite happy.  Although there […]

September 3, 2013 | By More