Financial Derivatives: Definition, Types, Risks
A derivative is an investment contract that gets its value from the underlying asset. The buyer agrees that he…
What is Escheatment and Why?
DEFINITION Escheatment is when money in an account appears to be abandoned after a certain time period. The financial…
What is a beneficiary?
DEFINITION A beneficiaryis a person or entity you name to receive your assets upon your death. Your assets will be…
What is the difference between ACH and wire transfers?
Electronic transfers include ACH and wire transfer. These are often good options for sending or receiving money. There’s no danger…
How to Use a Bank wire
A wire transfer is a great way to send money quickly and safely. It is a fairly simple process,…
What is racketeering?
DEFINITION Racketeering involves using force, fraud or intimidation in order to earn money. This includes organizing, managing or running an…
What are discouraged workers?
Discouraged workers are people who are willing to work and are available, but have left the workforce as they don’t…
Discover How ACH Payments Work
ACH payments are electronic funds transfers that use the Automated Clearing House Network (ACH). 1 The funds move from one…
What is compound interest?
Compound Interest is the interest that is earned on the original principal and accumulated interest. The Key Takeaways Compound…
How to calculate, compare, and rank the cost of living
Life is expensive. The average person requires certain items and services to maintain a standard lifestyle. The Bureau of Labor…