Category: Personal Finance

Donald J. Trump

Donald Trump

Donald J. Trump was born in June, 1946, to Fred and Mary Trump, owners of the small construction business Elizabeth Trump and Sons. He was the star of the NBC show The Apprentice for many years until he canceled the contract in 2015.

He attended the Wharton School of Business, which is known as the best financial school in the country. He has one of the smartest business minds in America, and he also has a gut feeling about everything he does, which carries him through.

When he graduated he took over the business and changed the name to The Trump Organization.

One of the most famous projects he undertook was the rebuilding of Wollman Rink, a project which New York City had given up. He finished it ahead of schedule and under budget. Continue reading “Donald J. Trump”


The Government and Interest Rates

You have read the title. Government and Interest Rates. What is the connection? The connection is made through the Federal Reserve. The government borrows money from the Fed and uses it (normally) to fund wars and structural purposes, along with salaries to government agents, etc. (Our president uses them for senseless-badly-timed-too-many vacations, but that’s a different matter.) By doing this the government gets hopelessly into debt, to our detriment.

Meanwhile, the Fed has been printing money (a right which should never have been given to them) with no gold backing. So the money that has been printed has less value than the previous batch. And so it goes on and on and on. This causes a process called inflation, whereby the money devalues more and more, until a loaf of bread costs a thousand dollars and the economy collapses.

Along with the currency, of course, interest rates devalue. So the interest rates grow higher as items in your local store go up in price. So, indirectly, the government has been raising the interest rates at the same time that they are devaluing the currency. It is vicious circle. Continue reading “The Government and Interest Rates”

The Morality of Work and Wealth

Is it immoral to be wealthy? Is it immoral to be poor? Is it immoral to work? Is it immoral to not work? Morals are set according to a person’s values. In my view, it is not immoral to be wealthy or poor. Situations are such that some can be wealthy, some cannot. If we have a choice, we obviously choose to be wealthy. It is immoral to not work, because then we expect money and help even though we are not working for it.

Again, is it immoral to be wealthy? Again, no. Without material wealth one cannot do very much. Some have to be wealthy to help the poor. That is the way things are. If we all had the same amount of wealth, the same amount of everything, life would be very boring. It would lose its spark and joy.

For example, let’s take a man named Donald Trump. Donald Trump is a very rich business man who sells apparel and shoes. He also manages construction companies. He is very, very wealthy. Currently, he is running for president. If he was not wealthy, he would not be running for president. If he was not wealthy, he would not be able to fund his own campaign, thus losing some of the appeal which gains him valuable voters.

There are many other people, too. Bill Gates, for one. If he was not wealthy, he would not have founded Microsoft. If he had not founded Microsoft, I would not be writing this essay on my computer right now. Continue reading “The Morality of Work and Wealth”

Cornelius Vanderbilt

Cornelius Vanderbilt was a man who built a fortune out of steamboat and railroad enterprises. He lived from 1794-1877. He was nicknamed ‘Commodore’ Vanderbilt because he operated his own ferry from Staten Island to Manhattan when he was only a young teenager. He was one of the richest men in American history.

Vanderbilt was born poor, and he quit school at age eleven to join his father in the ferry business. When he was older he married his cousin, Sophia Johnson. Together they had thirteen children.

While he was managing his steamboat enterprise, Vanderbilt also preoccupied himself with the growing industry of railroads. He bought a railroad across New York, and thus started his railroad career. Over his lifetime, he bought railroad after railroad until he owned thirteen, despite having lost some over time. He died at age eighty-two after a successful career. Continue reading “Cornelius Vanderbilt”

How Can You Control Small Expenses?

Do you find yourself short of cash? Most teenagers do. Some will budget their expenses, control small spending and save for bigger ideas.

If you are part of the majority, here’s what you should do:

  1. Cut down on impulse spending
  2. Cut down on small expenses like fast food, music and apps

These are two key points. It is also important to set yourself a monthly or weekly budget and stick to it. It is hard. You will make it.

Also, try to spread out small items over various paychecks. That will consume less money in a short space of time and spread it out longer, so that you will have more ready cash.

Try to limit or omit expenses that are not absolutely necessary, like chewing gum, fancy leg warmers, etc. If you follow these methods, you are sure to have more cash on hand, and thus will be able to save more money.