Comments on: How Money’s Handled Around The World (Fascinating!)

By: J. Money

J. Money — Wed, 08 Aug 2018 16:04:54 +0000

In reply to Debbie.

Fascinating!

And sounds about right…

By: Debbie

Debbie — Wed, 08 Aug 2018 12:02:14 +0000

I saw a clip awhile ago. A German restaurant owner said he had a very hard time finding waiters. Since most go to college free, who wants to work for low wages as a waiter? He had to raise salaries fairly high to attract workers.
So….when the Chancellor opened the doors in the past 2 years to displaced immigrants…it was humanitarian but also to help fill the lower end jobs.
There was a similar problem in NJ. With the high cost of living (especially property taxes), no one could survive working at a fast food restaurant for minimum wage so NJ was pretty much forced to raise it.

By: J. Money

J. Money — Fri, 30 Jun 2017 10:33:33 +0000

In reply to Mayank. WOW!!! That is incredible!!

By: Mayank

Mayank — Fri, 30 Jun 2017 09:17:12 +0000

In India, there is a Public Provident Fund in which you can invest upto Rs. 150,000 per year. The guaranteed rate of return is around 8% right now (used to be 12% in the nineties, so its slowing reducing). And this interest is tax free.

The best deal is for Indians living abroad (NRI – Non Resident Indian). They can open deposits in Indian banks for any amount and get tax free 8% return! Doesn’t get any better than this.

By: J. Money

J. Money — Thu, 23 Feb 2017 19:54:30 +0000

In reply to theFIREstarter. Stop being so smart :)

By: theFIREstarter

theFIREstarter — Sun, 12 Feb 2017 21:35:02 +0000

“I’d imagine you can “hack” a lot more out of travel with all that cash you’d be saving too instead of throwing it away!”

Ah but hang on a second there. Travel hackers aren’t actually the ones incurring the debts and making the ridiculous interest payments (ok so there are people using the rewards system who also pay interest but these are not what I’d call hackers as such!).

This system is effectively a transfer of wealth from people who are bad with money (paying interest) to those who are not. Nothing against this, and I’d do it in a shot if the same opportunities were available in the UK as well haha. But let’s be clear on what is happening here :)

On that last point, I am guessing people in the UK dislike credit card debts a little bit more than US, but not as much as French people, because there are some rewards available but they are not that great to be honest.

Cheers!

By: pauline

pauline — Wed, 08 Jun 2016 23:41:39 +0000

Thanks for the double feature, cool post!

By: J. Money

J. Money — Mon, 06 Jun 2016 16:53:35 +0000

In reply to Bob.

I’m guessing that refers to the comment I deleted of yours? ;)

Would have kept it if “molesting of women” hadn’t been dropped…

By: J. Money

J. Money — Mon, 06 Jun 2016 16:46:02 +0000

In reply to Stockbeard. Crazy!

By: Veronique

Veronique — Sun, 05 Jun 2016 04:54:20 +0000

In reply to Eric Bowlin.

You’re right about these French facts (although not quite sure about the percentage…). But I would add that contrary to the US : virtually no student debt, and very limited consumer debt (what american credit cards are used for)…
Now maybe you prefer those ? ;)