Hyperinflation: The Story of 9 Failed Currencies

The world’s major economic powers are all suffering from the economic downturn but even the most cynical doomsayer is sure we’ll get ourselves out of this mess—eventually. Rare are those instances in which entire economies are disrupted to the point - typically as a result of rampant inflation, or hyper inflation - that an entire form of currency is discarded, reformed or replaced. There are invariably external issues (military, political, etc) at play, which result in what can generally be referred to the ‘failure of a currency’, and each situation is unique. The following is a list of nine notable examples in which currencies became so devalued that they were eventually replaced.

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Should You Walk Away From Your Student Loans?

It’s not surprising that you didn’t realize what you were getting into with your student loan. You were just barely out of your teen years when you signed the paperwork. If you’re like most people, you probably had little understanding of what it means to incur debt and were lulled into a false sense of security with the knowledge that payments will be deferred for years to come. The language can throw you too. What’s the difference between a subsidized and an unsubsidized loan? What about federal vs private loans?, and so on. This lack of understanding can make you the victim of predatory interest rates from private student loan providers. But walking away from your student loan isn’t the same thing as walking away from your home loans. You’d better be aware of the consequences before you decide not to pay.

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Should You Buy a Home Right Now?

Conventional wisdom says that buying is preferable to renting. Instead of throwing money away on a home, you can invest in your future and have the sense of fulfillment that comes from owning a home. Turns out, conventional wisdom is wrong. Today, many long-term renters are in a much stronger financial position than many recent homebuyers, and the last thing these homeowners are feeling is contentment. But the combination of firesale prices on homes, the drop in mortgage rates, and government assistance in the form of the first time home buyer tax credit, may have you reconsidering the idea of buying your own home. Is now a good time?

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Who Does Obama’s Foreclosure Fix Really Help?

For millions of homeowners, the past few months (or years) have been very confusing and frustrating as multiple government ‘fixes’ have turned out to be both inaccessible and, in many cases, downright imaginary. With estimates that one in five homes has a mortgage that is underwater, it is important to remember that there are plenty of options to pursue before you walk away from your home.

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Should You Walk Away From Your Taxes?

When things get as bad as they are in the current economic crisis, there’s a natural tendency to just walk away from your debt. But when it comes to taxes, doing so could eventually land you in jail. The state of affairs has been worsened by the mortgage crisis, the insolvency of banks, corporate bailouts and golden parachutes for executives. And to top it off, there is the admittance by states such as California, that some state-level tax refunds will be issued in the form of IOUs this time around. Before you give in to the temptation to just walk away, consider the implications and penalties that may ensue.

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Modern Day Ghost Towns of Abandoned Real Estate

It may have seemed inevitable given the mortgage meltdown, but it is still shocking when you drive through a neighborhood that seems to be entirely filled with ‘For Sale’ signs. The cities here aren’t entirely deserted, of course, but they are examples of the cities that have been hit hard enough to lead residents to abandon their homes.

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10 Actors Who Found Success Off Camera

Facing an uncertain financial future, many are finding themselves at a crossroads. It’s times like this, when there’s little to lose and lots to gain, that it may make sense to go back to school to further your education, or even take a fork in your career path to consider career opportunities you would have never considered before. Diversification isn’t just a proven investment strategy, it can also be a way to leverage the money and influence gained in one endeavor to achieve success in an entirely different one.

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Going for the World’s Gold

Even in a slow economy gold is seen as a very safe investment compared to other commodities and the market as a whole. But have you ever wondered where you can find those reserves of this precious metal that is propping up the world’s economies?

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Why Even Good Credit Might Get Cut

You can afford your mortgage, you have a high credit score and you pay your bills on time every month. So why did American Express just slash your credit limit?

A combination of the credit crisis and the use of predictive analytic models for determining credit limits mean that it is no longer enough just to maintain a good credit rating. With credit card companies analyzing spending patterns, you have to pay more attention than ever to both where and how you shop.

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How to Set New Year’s Financial Resolutions You Can Keep

Every year it’s the same old story. You start with the best of intentions but somehow never manage to fulfill your New Year’s Resolutions. Perhaps you don’t even know how to get started. When it comes to getting your financial house in order, it’s even more important that you start now, so that you can meet specific deadlines that occur throughout the year. Follow this handy action plan in order to set New Year’s Financial Resolutions you can actually keep.

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