Engineer's Finance

I came across this site by chance through one of the tweets that I received on twitter.

Site: http://www.themoneymeltdown.com/. The site basically talks about the US Economy that is in soup right now.

I hope you must be aware of some crisis in US economy by now. Major Financial Institutions are in real difficult situation. They have either been bought out by FED or they have filed for bankruptcy. I really did not know what was happening and I was eager to know the situation. I was looking out for some descent material and above site really fits the bill. Continue reading →

Off late, I am not able to write articles related to Personal Finance. Sorry for that. I am little busy with my Financial Goal and Stock market is tumbling and scary and I am really not sure how to go about making money. Hence I am doing loads of home work to setup things. I am sure that I will be on track to pursue my dreams. Till then please bear with me.

I thank all you wonderful readers for visiting my site and subscribing it. I appreciate your efforts.

I read the following article on one of the websites. I really forgot the site, I did not try to find out and the only reason I can give is “I AM LAZY TO DO IT”. Please let me know if you find that out for me. Thank you.

When Stock market trading started gaining momentum in the early 1980’s, there was a huge shortage of traders. Investment firms were finding it hard to find suitable individuals to whom they can teach trading and make them earn money for the firms. Moreover, individuals were not very enthusiastic about taking up trading as a career. Those who were willing to opt for it, were the ones who failed in other streams. This created a huge shortfall of “traders” in the market. So the investment firms and brokerage houses started looking around for people who can fit into their requirements. Continue reading →

Have you ever thought about what would happen if the bank goes bankrupt? Is the money insured with the bank? Who will repay back your amount? Will they pay back the entire amount? If so whether will they pay the entire amount or in parts? What if they don’t pay back any amount? What should I do?

These questions were constantly on my mind after seeing the financial situation of the US Markets. Major financial institutions are crashing and it is creating ripples worldwide as many countries depend directly or indirectly on the US Markets. We all trust that Bank will safeguard our money and deposit the money with them and if they don’t take care of it then what should happen to the trust and the money? This is really going to be a difficult situation to handle. People will start losing trust and take out the money from bank and start piling them up at home. If such a situation happens then the liquidity decreases considerably and there will be very less money that will be floating around. Continue reading →

Have you checked your bank statement recently? When was the last time did you see your bank statement? Did you notice anything strange? Do you have a savings or current account? Any idea of how much is the interest earned by the savings that you have in your account?

If you don’t check your bank statements regularly then I guess it is very hard for you to track your financial status. There are chances that bank might charge you unnecessarily. You might be wondering that you need bank to safe guard your money but the truth bank needs customers and not the other way around. If you decide to safe guard your money then I think bank is not necessary at all. Continue reading →