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Banks generate income in different ways. One of the sources of income of banks are the interest they earned in their products and services. When bank lends money to borrower, they charge interest on the amount they borrowed that will become the banks earnings. Usually the interest rate is higher than the interest paid to depositors. Another source of income for banks is through fees that are being charged to various services like in ATM the withdrawal fees and balance fees, they also charge transfer fees in overseas wire transfers. Banks also generate income from foreign exchange trading etc.
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I have always wanted to ask this question is it that there is no opportunity or they do not want to get rich
Mate please more to this I am confused here.
To be honest no one really wants to be poor. It so happened that each and everyone of us born to a different lifestyle and community. How lucky are the ones who grew up in a rich family that can give them all the needs and comfort of their lives, education, material things among others. It is hard to live in a poor community because being poor it means they lack access to education, lack of good nutrition, they cannot find a good job opportunities and others. I am pretty sure that everyone really wanted to get rich because being rich means that you can live a comfortable life without thinking of starvation, you can easily pay all the necessary bills without any complaints that the bills are too expensive. If the poor can access education easily i am sure they will study hard to be able to have a good job that can give them a comfortable life. |
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In my country i observed so many people doing rally and blame the government why the basic needs price rise and the salary is still very low and not enough for daily expenses, is this the effect of the Ukraine and russia war that makes the gas or crude oil so high at price and they pass the gas expenses to the product and it ends to very high price of the basic needs that make us very poor, I see government has a move to resolve the problem but many people are still blaming the government.
It depends on the country. There are countries that very rich that can sustain the needs of their people, If a country is rich they could possibly end poverty. But if the country belong to a third world countries, the government will not be able to end up poverty it would be harder for them because the income of the government is not sufficient to cover up the needs of its people. Some of the reasons are the continuous growth of the population, the high prices of the necessities needed by the people because of the inflation. For the third world countries it is much better if the people and government will help hand and in hand to be able to end poverty even little by little. |
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Half of the rich people keep continue to swim in fame and wealth because of their occupied landed properties. If you own a land, housing estate you can be sure living great but this wealth are mostly control by political leaders and BD individuals......if you're blessed enough begins to occupy property's that can sure your next generation... In my country Nigeria if you don't have any of this properties forget yourself, you will end up making life mortgage and tenancy. Land never depreciates it keeps buying higher that's why I considered it the best investment. What do you think?
Land is one of the best investment ever. You are correct the value of land do not depreciate it appreciates over time and even gets higher for how many years. The disadvantage only of landed properties it is not liquid you cannot convert it easily to cash you need to take some extra effort to be able to sell it if you wanted to convert it into cash, or if you are in need of fast cash for emergency situations. But surely landed properties is one of the best investment. But of course as an investor i will not just invest my funds into lots only i will diversify it to other investment that could be easily liquidated i mean i could easily convert it into cash to be able to sustain emergency situations. |
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All in a bid to ensure I have a concrete investment plan this year, I researched some of the altcoins that has the potential to yield the best return over a duration of 5years. BTC and Eth top my list as one of the more secure coins, but other altcoins have proven to be reliable overtime, if you agree. Despite market volatility and the possibility of a crash, which is your most valid choice right now.
*If I have $40,000 to invest in one #cryptocurrency that will make me a billionaire, Which one do you think would be a better choice, besides BTC and Eth of which I have grown accustomed to?
- $BTC *
- $ETH *
- $ADA
- $VET
- $SOL
- $MATIC
- $SHIB
- $NEAR
- $DOGE
- $DOT
- $LINK
These are some of the best I have seen so far.
*What advice would you give me?
Well as for me if I have $40,000 to invest i will diversify it to the reliable crypto currency like BTC, ETH and BNB and others that is worth it to invest in. With the current situation now of the market it is hard to choose which among the coins are worth it to invest, but definitely for a long term investment it is good to invest in BTC and ETH specially if you will keep that investment for so long. It is hard to advice which of them is ok to invest. What i can suggest is try to research and study the market trends from there you can decide which coin to invest if you have $40,000.00 but make sure to diversify it and do not put all your funds in one basket to avoid big losses. |
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At first I thought is power than anything, later on I said it's should be economic resources, then I realizes is money. I will give a brief poem here! The breeze blew and stake moistures and when it blew hales, it was just the breeze moving while the moistures is running away with fears.
The mist of human fears is control by what is next to their breath. Money has power than anything, money makes one feels secure, alive and superior. When money leaves we felt life is gone, we feel dead, we feel empty, we feel hopeless.
Currently my country government has turn humans to museum, moving without no direction, helpless and monuments because for over 3 months now the government has seized to release money in circulation, banks refused to fix money in ATM's, no canter payment.
Everyone is helpless, no money no good food, no transportation, no job, no love, no smiles, no good health.
Money drives away every feelings that makes life better. Money is truly powerful
In my country money is the medium that is used in purchasing food, clothes and other things. Money is really powerful because without it we cannot buy our needs. To be honest money can really makes the life of the people better. Right now here in our country the circulation of money is still the most evolving all over the country without it how can an ordinary people go on with their lives, how they will buy their basic necessities like food, paying electricity bills, water bills and the likes. It is sad to hear that is happening to your country it seems that people are helpless, but how can you survive without money? I hope the your government act on it because its looks like a affecting a lot of people in your country. |
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When you're short on cash, it can be difficult to quit borrowing money.
Everyone has been there. We're short on cash and in a lot of debt, but a cover loan to get out of the red and even improve our readiness is the light at the end of the tunnel.
Blissful days? Sadly, no. It all comes down to the straightforward, yet frequently misunderstood, formula that says borrowing more money equals more debt. It is more difficult to return to black the more debt you accumulate.
The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money. Simply put, incomings are outpacing outgoings. It's also getting worse.
More than at any time in the past two decades, millions of Americans are spending more than they earn. Spending on credit cards, the most common type of personal debt, is estimated to be rising at a rate faster than at any other time in American history.
That is true that living beyond our means is one of the primary cause of ever increasing habit of borrowing money. But we could still control and discipline ourselves when it comes to borrowing. We need to have a specific budget and allocation of our funds for our basic needs if we could cut off eating at fast foods everyday maybe it is better to cook at home and bring food at work with that we could save money. Take control of ourselves try to identify your needs vs. your wants. If the things you will buy is just a want it is better to cut it off, buy only that is needed. It is hard to live beyond our means because it will end up borrowing money and sometimes if we continue that lifestyle it would be harder to pay back the money we borrow. It is better to control and discipline ourselves and quit borrowing so that we could have a peaceful life. |
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When I have achieve financial freedom one of my target goal is to help my family for them to have a comfortable life, help as well the less fortunate people whose been battling poverty. I would put up a business and give them job opportunities so that they can improve their lives and overcome poverty. With financial freedom i would also reward my self by traveling to different countries and explore their culture. And i will diversify my finances to different kind of investments and businesses to help more people and give them job.
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Getting an MBA is beneficial because it sets you apart from the rest of the pack. One of the advantages of an MBA is that it forces you to read and learn, which helps you expand your knowledge about any business you want to venture into. I strongly believe that one of the reasons why start-ups fail is because they lack a solid foundation in understanding frameworks and conducting their own research, instead of relying solely on purchased data. While it is true that not everyone may be able to afford an MBA program, the truth is that there is so much to learn from it. If you had the opportunity to pursue an MBA before starting a company or directly starting a company, which option would you choose? - https://producthq.org/career/product-manager/how-to-decide-if-you-need-an-mba-as-a-product-manager/Not necessarily having an MBA can make your business successful. MBA could be a plus factor and additional knowledge for you in some aspects. Success of a business would depend on your marketing strategies and how well you know the business. Another thing that you should know the needs of your clients and customers to be able to quantify what support needed to be able to gain their trust and loyalty on your products. There are MBA and Doctorate degree holders but they did not use it to run a business and even if they used it they also fail. To be able to be successful in a business you must have a good marketing strategy, make sure you know your products well and you know how to sell it, know customer needs, being considerate to your staffs / sales force motivate them for them in return they will give their 110% to work on your business. And also proper compliance to the government in example paying taxes on time, getting the proper licenses to be able to operate legally, etc. |
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Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?
That is really the strategy for altcoins nowadays buy dip and then sell if the price increases to be able to generate profit. A lot of investors do take advantage of the dip and dump it once it hit their target price. If the scenario of most investors the altcoin project will tend to end as scam. But of course there are also altcoin projects that has a good potential in the market with a clear timeline and very good support. It is better to do a research first before investing to any altcoin so that you will not regret your investment. |
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In my country i observed so many people doing rally and blame the government why the basic needs price rise and the salary is still very low and not enough for daily expenses, is this the effect of the Ukraine and russia war that makes the gas or crude oil so high at price and they pass the gas expenses to the product and it ends to very high price of the basic needs that make us very poor, I see government has a move to resolve the problem but many people are still blaming the government.
I think the government should provide the support through polices and programs to be able to reduce poverty rates like social welfare programs and the likes. Also the government is the one who mandates the minimum salary rates in a given country as well as the retail price of basic commodities. If the government would evaluate the current situations of the people they can upgrade the minimum wage and also to regulate the prices of basic commodities. But of course we as individuals if the government is slow in acting upon the needs of the people we should find other means to be able to survive poverty because if we will just wait for the government our lives will not move forward. |
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The food crisis now in our country is getting worst again at this time. The prices of vegetables, fruits and grains are getting high again. In that case i need to budget smartly so that i could still buy a good quality of food at the same time that is beyond my budget. Now it is advisable to have a mini garden on our backyard to be able to harvest fruits and veggies so that we can save in buying those items in the market. Be smart as well in buying goods make sure to buy goods that has a long shelf life in case we will keep it for months. Buy as well the veggies and fruits that are in season because if they are in season there would be a lot of supplies and we can buy them at a lower cost.
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I mentioned somewhere that my closest friend has been unemployed for over a year due to the devastating collapse of his line of business and and his wife's sickness. Last time we met was a month ago and he was depressed in certain ways which worried me a lot. I called him to see if he was fine last Sunday and he told me he was looking for jobs and the next day he would go to several interviews. I was glad to hear that. Last night I called to follow up and he said the interviews were not going well. I aksed why. He told me that nowadays most companies are not doing well, barely making even actually. The interviewers would just say the job is not entitled to any insurance or benefits, what they can offer is a very low base salary and the commission part would be subject to how many sales the employee can bring to their company. My friend was not willing to take any of them because he has a family to feed and his wife's condition is unstable which could need a lot of money for surgery at any time. I understand him and am trying my best to help him find a high-pay job.
My friend's story sends me a signal: no matter how much I earn right now, try to keep my job and souce of income stable. I am also a family man and have responsibilities. Anything bad can also happen to me so I have to be prepared to the unforseen problems, although I am doing fine now. Make hay while the sun shines. If you have any advice for my friend, please let me know. Thank you.
I agree with you a steady source of income is a mans bottom line to support the family. I am also a breadwinner despite the fact that i have a regular job i do still find other option to be able to sustain the needs of my family because the salary from my regular job is not enough to compensate our daily needs. It is really hard to find a good job with a better compensation and benefits i think it is because of the inflation happening all over the world. But I do still apply to other company while i am keeping my regular job. If i will be accepted to other company with a better opportunity, salary and benefits i will give up my regular job. In my own opinion your friend should accept any kind of job and choose the better offer and just find other side jobs that can sustain their needs, because if he would stay unemployed from the time being how will his family survive in this time of needs? |
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Base on the steady market increase early this year, some coins increases times two but now it has falling drastically.
During bearish market i think it would be a good strategy to buy coins for long term investors who believe in the potential of the coins they are buying because they could buy at a very low price. During bearish market prices of coins are generally lower which means that investors can buy more coins for their money. Personally I would take advantage on the dip because i believe that if i buy during bearish market my investments will gain a higher profit. And that is the common goals of many investors to gain a significant profit on their investment. So definitely bearish market is the right time to buy coins. |
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when i was kids, i need to study very hard, to get a lot of score in the test. if i got a zero mark in a math test, i am very scare to go home and show the test paper to my mum.
when i am grown up, i have kids and wife now, i need to work very hard, to get a lot of money in the job. if i got a paycut, or i got fired, i am very scared to go home, i can't sleep well, my head is sweating, the memory of getting zero mark in a test keep haunting me like the nightmare, i need to go out and make a lot of money!!
tell me anything i need to do to make a lot of money. doesn't matter what, i would do anything to get all the money, even if it mean unlawful and unethical!
I think when you are a young kid your parents are very strict and they wanted you to get high grades or else you get punish I think that sinks into your mind that is why you are scared of you mum. For me i never experience that kind of strictness to my parents they let me study and do not force me to get high grades they do wanted me to enjoy my studies and they did not set any grades to reach because they do know how stressful is studying. I am thankful to my parents i did not feel scare about them if i did not excel in school instead they are more supportive what ever grade i got. You can try to do the same to your kids so that your kids will not be afraid just let them study and do not set any standard grades. For you to be able to earn a lot of money you have to work hard and find a side job that can boost your income so that you will not be scared that your salary will be cut if you have other source of income. If you have extra money you can invest it or try to put up a business that you think would be profitable to be able to increase your income. Never think an unlawful and unethical means because your life would be miserable. Think of a source of income that is legal. |
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I wonder if higher education will help for entrepreneurship?
I am more interested in how much theory will help in this, because during a long study we do not get practice, this will be possible only when we start doing business, until that moment we will not be able to know how much it will help us.
This can help us if we need a license, but in some cases it can be obtained without a higher education.
Statistically, 95% of entrepreneurs have a bachelor's degree or higher and I wonder, for those of you who are involved in entrepreneurship, how useful was higher education for you?
It is necessary to have a hands on in entrepreneurship while obtaining higher education. Because theoretical education can only teach the basic information. It would be better to have a hands on because not all theoretical learnings can be applied in entrepreneurship. Just like what i had finished in college i was not able to apply everything i had learned in my Bachelors degree the actual entrepreneurship or a job practice is very different. But still the learnings in Higher education could still equip us with knowledge and skills it is just that it is limited to the actual business or a job. |
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Stop following crypto influencers, those of you who like using YouTube videos to pick coins and tokens to invest in you need to hear this, those crypto influencers on YouTube are getting paid to promote those projects they are chilling, why would they promise you 2x or 5x when they aren't part of the team themselves? They did this because that's how they make their own money. He who have hears let him hear.
Usually this influencers are paid by the different crypto project in return they would advertise and encourage people to invest on that particular crypto project. Of course as being paid by the developers of a particular project they will promote it with promises of high rate of return even though they are not part of the team. They are just doing it because they are being paid even though that there is no assurance on the development of the project. Using crypto influencers they can help in the promotion of the project since they are already known in the industry and a lot of people do follows and believe them. But also there are disadvantages because some influencers may have conflict of interest such as promoting certain coins in exchange for compensation. They could also provide inaccurate or misleading information which can lead to poor investment decision. Make it a habit to do your own research first and better yet believe on your instinct if it is good to invest or not. Decide for yourself do not just believe to the influencer so that you will not regret that you had followed the advice of the influencer. |
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Banks still continue to fail despite of having solutions in place, one of the main reasons is the ever revolving landscape which makes it difficult for banks to keep up with changing regulations, technologies, and customer needs. Another reasons is the increasing competition from non bank financial institutions, which is often more agile and innovative than traditional banks. Banks face several challenges in implementing their solutions effectively. Some banking systems and outdated technology can hinder their ability to offer modern banking services and products. Banks need to balance the need for profitability with customer satisfaction which can be a delicate balancing act. While banks have solutions in place to address many challenges, implementing them effectively and navigating the complex financial landscape remains a challenge.
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how to deal with inflation according to my community:
1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving
that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?
I agree with you those strategies should be done to be able to overcome inflation for the community. Encouraging people to save money can help reduce the impact of inflation on their purchasing power. This can be done through financial education programs and incentivizing saving through tax breaks or other benefits. If we do start saving on an early stage probably we already gained enough profit in preparation to the upcoming inflation. Looking for additional income can increase our savings that we will be needed if we face inflation. If we properly manage our finances we can save money, prepare for an emergency as well as we could start investing. If we do all those strategies definitely we could overcome inflation. |
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Yes indeed high gas fees for sending tokens are still a problem. Ethereum, which is the most widely used blockchain for sending tokens, has seen a surge in gas fees due to increased demand and network congestion. This has made it expensive for users to send even small amounts of tokens. There are some ways to save on gas fees. One option is to use a layer 2 scaling solution like Polygon, which allows for faster and cheaper transactions. Another option is to wait for periods of low network congestion to send transactions, which can significantly reduce gas fees. Users can also optimize their transactions by setting the appropriate gas limit and gas price. Setting a lower gas limit can reduce to overall cost of the transaction, while setting a higher gas price can help ensure that the transaction is processed quickly.
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