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The Math Behind the Minimum: Calculating the true cost of credit card minimum payments

Most credit card companies keep their exact algorithms for determining minimum payments under wraps. However, there are whole threads of research by mathematicians and statisticians who try to break down the math behind the minimums, using something called the Bond Evaluation Formula. Quite simply, it is: 𝐵=𝑃(1+𝑖)+𝑃(1+𝑖)2+…+𝑃(1+𝑖)𝑛=𝑃∑𝑗=1𝑛(1+𝑖)−𝑗 Got it? If that’s just slightly ahead of your high-school level calculus, we…

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5 Shocking Statistics About Debt.

When we talk about the economy and our finances, most of us check in on a number of key statistics, including unemployment rates, the Dow Jones stock market average, and even mortgage interest rates. However, the numbers we should be paying attention to on a macro scale paint a far gloomier picture of the U.S. economy and our finances. Debt.…

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Is homeownership still the American Dream?

When our parents and grandparents were growing up, this formula for a secure, comfortable, and happy life was simple: go to school, get a good job, get married, buy a house, pay off your mortgage (and raise your kids), and retire comfortably. In fact, since the end World War II, when millions of GIs came home and populated the newly…

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Preventing Employee Burnouts

Small companies can have the problem with too much work needing to be done.  Some team members can feel the pressure of feeling that they must do all the work at once, often times burning them out.  Burnouts can result in poor customer experience and a bad feeling in the office.  Richard Hua from Roundleaf Inc. wrote an article that…

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Hiring Tips for Small Firms

Hiring can seem like a nightmare sometimes, especially for smaller firms.  Although any business can have issues hiring new staff members, smaller firms have the added pressure of making sure that each member of their team is going to accurately represent their company.  CEO and owner of Roundleaf Inc. Richard Hua wrote an article for the Huffington Post, Hiring Practices…

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