Summary of “5 Money Rules That Will Increase Your Net Worth”

We must stop thinking that the solution to all our problems is more money.
We’re better off by creating a strategy that helps us to manage money better-that alone will help us break away from the average earners.
Desire Less Here’s some common sense: It takes more time to make money than to spend it.
You work thousands of hours to make a certain amount of money.
One thing is sure: Never borrow money to buy a car, electronics, or anything else that goes down in value.
Your money strategy depends on your age, personality, place you live, education, experience, etc.
My personal short-term money strategy is based on improving my skills and creating multiple income streams.
Start Now You see, these rules are not all about making more money.

The orginal article.

Summary of “Why conflict is good in the workplace”

The doctors are not the only ones who avoid conflict.
Conflict isn’t bad for organizations: it’s fundamental to them.
Conflict is part of strategic planning, resource allocation, product design, talent management, and just about everything else that should happen in an organization.
Conflict debt is the sum of all the contentious issues that we need to address to move forward, but remain undiscussed and unresolved.
Three unproductive ways people deal with conflict debt.
As with financial debt, conflict debt starts innocently.
Avoiding the issue is only one path to conflict debt.
Don’t give up-there are many things you can do to get out from under your conflict debt.

The orginal article.

Summary of “How to Negotiate Down Your Hospital Bills”

Since Chamberlin Edmonds was offering only to help her find government insurance, for which Lockett did not qualify, the company wasn’t able to reduce her hospital bill or work out a payment plan.
Lockett assumed this meant she was at a dead end with her nearly $30,000 in hospital bills.
When one of the Georgia Watch representatives mentioned that the organization has a guide for people who wish to negotiate down their hospital bills, Lockett grabbed a copy.
Emory Healthcare told me it could not comment on individual patients, but added, “Patients will sometimes receive two bills for the same date of service: one bill for services rendered by the physician; the other for a hospital stay, supplies, services, and equipment provided. Emory Healthcare’s customer-service department works with patients to establish a mutually acceptable agreement for paying inpatient or outpatient bills.”
Read: Even the insured often can’t afford their medical bills.
She tried to negotiate down her bill, but she says the hospital, the ambulance company, and the ER doctors did not give her a discount.
She paid in full, not wanting the bills to affect her credit.
This practice makes financial sense for doctors, given how many people are unable to pay their bills.

The orginal article.

Summary of “How to Budget When You’re Broke”

Follow these steps to set up a budget if you’re broke.
Not all experts agree on which is best to focus on first, debt or savings.
The “Debt Snowball” method: Pay your smallest debts first.
The “Debt Avalanche” method: Pay debts with the highest interest rates first.
As finance blog Ready for Zero points out: “Proponents of the Debt Avalanche point out that you can lose thousands of dollars by choosing not to tackle your highest interest accounts first.”
The most important thing is to keep your debts organized and come up with a plan on how you’ll tackle each one.
Once you pick your debt repayment strategy, allocate an amount toward each debt.
Calculate how long it will take to eliminate each one, with your budget in place.

The orginal article.

Summary of “How to Stop Putting Off Your Big Idea”

As Jessica Abel, a cartoonist and author, explains, it’s because it’s become part of your Idea Debt.
Idea Debt is when you spend too much time picturing what a project is going to be like, too much time thinking about how awesome it will be to have this thing done and in the world, too much time imagining how cool you will look, how in demand you’ll be, how much money you’ll make.
It’s the screenplay idea you’ve had for 10 years, the podcast you’re always brainstorming but never executing, the novel you keep promising to sit down and write, yet never find time for.
Abel says she first encountered the term Idea Debt while interviewing Kazu Kibuishi, a graphic novel author and illustrator.
Idea Debt takes this one step further: You’re not just putting off answering an email for a few weeks, you’re putting your dreams on hold indefinitely.
“Avoiding Idea Debt is about acting before you think too much and get overwhelmed by how hard, and how important your project feels,” writes Abel.
What happens when you carry Idea Debt for too long, and your life moves on, is that your idea hangs on like an albatross.
Ask yourself: Are the ideas taking up space in your head the ideas of today, or an earlier you? Do they still excite you? Will they help you become the person you want to be, or are they just sitting there because you’ve never cleaned them out? Allowing yourself to move on frees you from that Idea Debt so you can take on new initiatives and goals.

The orginal article.

Summary of “The $247 trillion global debt bomb”

The untold story of the world economy – so far at least – is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion.
Here’s where the trade war and debt may intersect disastrously.
In the first quarter of 2018 alone, global debt rose by a huge $8 trillion.
In 2018 and 2019, about $1 trillion of dollar-denominated emerging-market debt is maturing, the IIF says.
Debt can either stimulate or retard economic growth, depending on the circumstances.
If debt growth is not sustainable, as Tran believes, new lending will slow or stop.
The meaning of the $247 trillion debt overhang is that many countries will be dealing with the consequences of high or unsustainable debts – whether borne by consumers, businesses or governments.
“If you are in a high-debt situation, you need to bring the debt down, either absolutely or as a share of GDP,” Tran said at the briefing.

The orginal article.

Summary of “Welcome to the buyback economy”

The cash-outs are helping to drive debt – corporate debt – to record levels.
The most significant and troubling aspect of this buyback boom is that despite record corporate profits and cash flow, at least a third of the shares are being repurchased with borrowed money, bringing the corporate debt to an all-time high, not only in an absolute sense but also in relation to profits, assets and the overall size of the economy.
What concerns these regulators is not simply the growth of the corporate debt market but also the change in its structure and how it will perform during a sell-off.
For the bigger reality is that the global economy is now awash in debt – not just corporate debt but also record amounts of government debt, household debt and investor debt – at a time when interest rates are rising from historically low levels.
Not only does the new debt need to be financed, but trillions of dollars in old debt will also need to be refinanced when it comes due.
Memories are short, and a decade later, mortgage debt, credit card debt, student loan debt, and car loan debt are all, once again, at record levels and growing briskly.
Finally, there is the debt that investors large and small take on to buy stocks, bonds, derivatives and other securities.
“Banks will reap what they have sowed in having created all this debt,” said James Millstein, an expert in corporate and government debt who oversaw the restructuring of insurance giant AIG for the treasury during the 2008 financial crisis.

The orginal article.

Summary of “A Letter to My Daughter About the Black Magic of Banking”

As you grow up and experience more of the ups and downs of the economy, you will notice a piece of mindbending hypocrisy: during the good times, bankers, entrepreneurs-rich people in general-tend to be against government.
Entrepreneurs need bankers to lend to them, who need entrepreneurs to pay interest.
Bankers need governments to protect them, who need bankers to fuel the economy.
Who has provided the government with the requisite loans? The bankers, of course! And where have the bankers found the money? I hardly need tell you that they have conjured it from thin air.
Why? Because a market society’s bankers need public debt as surely as fish need water to swim in.
When the government borrows, say, $100 million from a banker for, say, a ten-year period, in return it provides the banker with a piece of paper, an IOU, by which it legally guarantees to repay the money in ten years’ time as well as pay an additional yearly amount to the banker in interest-say, $5 million a year.
Bonds are, in bankers’ parlance, “The most liquid of assets.” As such, they lubricate the banking system to keep its cogs and wheels turning.
In bad times, when bankers pick up the phone to the government and demand that the state’s central bank bail them out, it does so not just by creating new money, as we have already seen, but also by issuing even more bonds and using them to borrow more money from other bankers, often foreign ones, to pass on to the local bankers.

The orginal article.

Summary of “What Happens to Your Debts When You Die”

Of the many downsides of death you could name, you might think an upside is that you no longer have to worry about the massive pile of debt you’ve accumulated over your life-almost $62,000, on average, according to a 2017 report from Credit.com-from astronomical health care bills to the mortgage on the house you couldn’t afford to your tens of thousands of dollars of student loan debt.
Before you pass on money to your heirs, your debts are repaid.
An executor handles all of this, and will pay off your debts with your estate.
Because mortgages are secured debt, lenders get first dibs on your assets to recoup their loan.
If the estate can’t cover the cost of the debt and you have a co-signer, they’re responsible for the rest of the loan.
Credit card debt isn’t secured, meaning if the estate runs out of funds after the mortgage and car loans, there’s nothing for creditors to sell to get their money back.
If not, the debt may die with you, unless you live in a community property state.
If there’s money in your estate, that’ll be put toward private student loan debt.

The orginal article.