As bartering became more and more of a hassle, people started using money in their transactions. They still do that. Historically, there were three types of “real” money: -commodity money – e.g. seeds, cattle, gold coins -commodity-backed money – e.g. gold certificates -fiat money (or trust-backed money) – e.g. the dollar, the euro and any…… Continue reading Are virtual currencies the coins of the future?
Author: Anca Ioviţă
The best unemployment insurance
Unemployment insurance was unheard of some centuries ago – today it is mandatory in most countries, but does it have any value? The probability is too low to ever make use of it even if you will be unemployed at some time. Besides frugal living and getting educated, what can you do right now to…… Continue reading The best unemployment insurance
Why it is your duty to know what you’re buying and the risks associated with it
Whenever you make a financial transaction – like buying a bag of oranges – it is your duty to know the product well, the market and its health risks if any. If someone sells you apples tagged as oranges, you are mainly the only one to blame – nobody will be more interested in…… Continue reading Why it is your duty to know what you’re buying and the risks associated with it
The Renaissance Soul
There is the magic of compound interest – those who understand it, earn it and those who don’t, pay it. Can this apply to something more than money? Can we leverage our experience in the same way? Experts are able to earn higher prices than amateurs precisely because they build on previous mistakes,…… Continue reading The Renaissance Soul