Economy - Page 6

The Benefits of Cryptocurrencies

/

The world is becoming more economically unsafe and cryptocurrencies might help you fight the feeling of someone harming your economic status. Cryptocurrencies or as we know it today „digital money“, is based on blockchain technology. This kind of technology creates a digital ledger of all assets, whether it is money, tangible property, vehicles, or stocks. Bitcoin is the most famous one, but it is just a drop in the ocean. As these platforms are becoming increasingly popular, and are becoming more accessible, it is important to know what are the actual benefits of this currency.

source: rau.ua

Before taking a look at the benefits of cryptocurrencies, here is a list of the cryptocurrencies that are already widely used:

source: rs.n1info.com
  1. Bitcoin
  2. Dash
  3. Ripple
  4. Dogecoin
  5. Litecoin
  6. Peercoin
  7. Ether

Here is a list of benefits you might get by using cryptocurrencies:

source: talismanian.com

1. The integrity of transactions – this type of currency cannot be transferred to a third party without the user. Hence, with this kind of transactions, there will be no risk of fraud or cheating. The user will be in complete control of the transaction and currency, which is hosted on centralized technology. There will be no chance of any third party to interfere or manipulate the payment or the sender reversing the payment. It requires less trust and worry than in traditional banking.

2. 24/7 tracking of payments – traditional systems require the senders to track their payment by using the bank systems throughout three days or, sometimes, even more. This creates doubt for the sender, as well as the receiver of the money. With crypto transactions, you will be able to track it every second, and you will be able to know the exact time the funds are delivered. This, on the other hand, creates trust between the sender and receiver. These kinds of deliveries are more safe and secure in the digital form, and that is one of the main reasons banks are starting to use this technology.

3. Security of currency and transactions – you are already familiar with credit card fraud and identity theft. Instead of worrying about purchasing something online, cryptocurrencies are at the moment, the safest and easiest means of shopping online, without risk or loss of money.

4. Confidentiality and privacy – banks will require full knowledge of all your details, while cryptocurrencies do not require more information than you are willing to give. Your payment is strictly made between you and the receiver of the funds. Hence it is perfect for people who want privacy and anonymity. Of course, you should keep in mind that different coins come with a different kind of anonymity, and before purchasing anything, you will need to do some research.

5. It is available to everyone – since all cryptocurrencies are easily and without effort accessed on a decentralized network, anyone can earn cryptocurrencies. The wide range of Blockchain applications that are developed or are being developed is designed to make access to banks, bank charges, and high-interest loan rates less severe. They are designed to be available to everyone in the marketplace.

6. Quicker transactions – when buying property or vehicles, the costs, time with bank approvals, and drawing up contracts can be stressful and time-consuming. Cryptocurrencies enable you to make immediate payments on property and asset transactions. These transactions do not require a middle-man, and since the blockchain is decentralized, it is solely based on a peer-to-peer system that also avoids any kind of currency exchange difficulties in cross-border transactions. The smart contract process will make sure that the transactions are recorded and legitimate, without any legal or broker costs.

Conclusion

source: goemerchant.com

In short terms, you can see that cryptocurrencies are not only beneficially for the wealthy and privileged, it is something that will be able to enhance the lives of everyone, even ordinary people, doing ordinary things. It is the way of future payment methods.

What Experts Are Saying About the 2019 Stock Market

The stock market is performing well under President Donald Trump, primarily thanks to the massive tax breaks that were given to corporations. But as we started seeing at the end of 2018, these tax cuts were offset by tariffs for a lot of companies.

Statistically, stocks will fall and rise 10% the next year on average.

Swings in the stock market are not the only indicator that needs to be examined when predicting how the market will perform. Stock markets rise and fall year after year, and a dip at the end of 2018 may be more of a correction than a major concern for investors.

Instead, a few considerations for the coming year are:

GDP is Expected to Slow

Img source: gannett.com

GDP performed well in 2018, hitting inflation lows and a near 50-year unemployment rate. Analysts expect the tax cut benefits for businesses to fade this year, and mortgage rates are rising, which will impact the housing industry.

China’s tariffs remain a concern, and a lack of workers may start to impact businesses that can’t find ample employees to fill their ranks.

All of this points to timid GDP growth, and this may keep stock market gains subdued.

Sky-high Earnings Growth to Slow

US stocks have enjoyed rapid growth for years, but as we’re seeing with Amazon, growth is starting to slow somewhat. This doesn’t mean that the growth will stall, but when a company has been able to achieve growth of 30% or more in revenue quarter-over-quarter.

But the company is under increased competition and has such a high market share that these growth figures may be hard to achieve.

Revenue growth is now slowing to the 20% mark, and while not bad by any means, the days are giant growth stocks are starting to fade away. Walmart and others are slowly taking some of Amazon’s market share, but for large-scale companies, especially in the tech field, we’re seeing revenue growth levels that are lower than we’ve experienced in recent years.

This slower growth will lead to higher stock fluctuations, with steeper losses when quarterly releases are made.

Cheap Capital May Impact Lenders

Img source: businessmodulehub.com

Higher interest rates will cause consumers and businesses to cut back on borrowing. Interest rate hikes will make borrowing more expensive, and this will be just the start of the issues. A tighter labor market will also lead to many employers not being able to retain talent.

Higher wages will dictate the job market, and this is likely to cause job growth to slow this year.

Global Bear Markets are Possible

It’s very possible that the world may see a global bear market, and this is primarily due to economic peaks. There may not be a drastic bear market, and we may even see a bull market in 2019, but a bear market is still a possibility.

Brexit and international markets slowing may lead to higher investment fears.

Central banks will play a major role here, and if rate hikes continue, consumers will be left either unable to afford mortgages and loans, or lenders may find themselves with higher revenues.

Pros and cons of ChexSystems

/

As each day goes by and humanity keeps evolving, the usage of banks and bank accounts is getting even more common. The times when people used to store their money in safes or keep them at home are long behind us. Even our grandparents have multiple bank accounts. Using banks has never been easier, we have mobile apps, online services and what not. You don’t even have to visit a bank to draw or send funds anymore.

Everything is being automated, and that’s the case with bank decision making as well. But what kind of decision making you might ask? Well, when you try to open a bank account or try to score credit, the bank needs to decide if they really want to grant you that permission.

Img source: gobankingrates.com

Nobody likes to have un-trustworthy customers, so they have to carefully examine each request and even sometimes take a “peek” into the customer’s history. But how can they do this for every person when there are so many people making requests every single day? That’s where automation comes in to “save the day”. Or does it? There are services such as ChexSystems that keep track of a customer’s history and previous experiences with banks, and makes a report that has a score from 100 to 900. Then it sends it to the bank and the computer makes a decision if they should either accept or reject your request.

As much as this can be helpful and make banks “decide” faster what they should do with your requests, it can sometimes make mistakes and many people get “blacklisted” by this system for some insignificant issue they’ve had in the past which might’ve not even been their fault. That’s why there are non-ChexSystems Banks anymore.

Img source: chexsystems.com

Let’s talk about the pros and cons of ChexSystems

Like we mentioned earlier, the biggest advantage of banks that use systems like these is the ability to bring much faster “judgments” and prevent people from waiting forever to get their application accepted, or rejected. The thing is, these decisions that the automated system makes are not always right. We are all humans and make mistakes, it can happen to anyone to miss a payment date. Same goes for the people who work at the bank. Sometimes the problem is on their end, but ChexSystems will still “capture” this issue and possibly use it against you the next time you try and use a bank service.

Img source: letmebank.com

That’s why some banks created an option called “second chance”. This serves to give exactly that, a second chance to people that have been rejected by something like ChexSystems. The problem is if you don’t find such bank or there are simply no other banks in your area except the one that strictly trusts ChexSystems only, you can find yourself in a pretty difficult situation. This is because the system keeps your “negative history” for up to five years.

If you are reading this and wondering what “grade” do you have on this ChexSystems list, there is an option to check on their official website. Just fill out a form and you should get a statistic with your “performance”.

What is Bitcoin Futures?

The world of cryptocurrency trade, generally introduced in this 21st century, is indeed a truly exciting world. Cryptocurrency simply refers to digital money. Bitcoin falls in this category. Interestingly, like other assets, Bitcoin boasts of a futures market.

But what is a futures market? In a futures market, a buyer accepts to buy a security. This is done through a contract that states the time and price at which the security will get sold. Reflecting on this, one expert on cryptocurrency trade recently declared that selling futures contracts is a great way to short bitcoin. Yet, what are some benefits of trading in bitcoin futures?

Bitcoin futures enjoy the luxury of allowing traders to predict the future price of bitcoin. This is referred to as speculation. But just how do they do this? It’s fairly simple. The ordinary trader simply gets to bet based on the current price of bitcoin and many end up profiting massively on their speculation.

Certainly, the bitcoin futures business is big business. Illustrating this, at a recent launch of bitcoin futures in the US, the event was greeted with euphoric excitement. Amazingly, the price of bitcoin shot to a whopping US dollars 17,382.64 in just one day! Indeed, this was an all-time high.

High Prices of Bitcoin are Perilous

Img source: cryptocrimson.com

Is it such a good thing, in investment terms, that the price of bitcoin should soar so high? Initially, one would say yes. In reality, though, this is far from good. How? Simple. This state of things could be highly perilous for the value of bitcoin in the final analysis. In the end, bitcoin prices might fall sharply.

What are other benefits of bitcoin futures? Some of these are listed below:

  • It provides a central market for traders to speculate, basing on current bitcoin prices and fortunes.
  • It offers transparency to traders
  • It provides a place for centralized clearing of trade.
  • It offers deep liquidity to traders.
  • It affords an opportunity for efficient discovery of price.
  • It affords new investors a choice to bet against the cryptocurrency bitcoin.
  • It gives traders room to settle their contracts in dollars. The extra effect is that their liquidity is greatly boosted.
  • It gives investors a chance to trade in cryptocurrency even though they actually do not own any cryptocurrency. Eventually, this protects traders from any fluctuations in the real-time market. For check some other trading solutions. check algo-signals.com.

Great Lessons in Bitcoin Futures Trade

Img source: openaccessgovernment.org

Undoubtedly, crypto futures today exist as a new market. Yet, is the trade in cryptocurrency futures really so new and peculiar to this 21st century? We might immediately think: Yes. Surprisingly, the answer is, again, no!

Way back in 1750 B.C in ancient Mesopotamia, this kind of trade actually happened! How? As we know, around this time, the fabled King Hammurabi of Babylon introduced a code of laws in his country. Inside the famous Hammurabi Laws was a requirement for his people to trade in goods for a specified price and at a future day.

A key component of the bitcoin futures dealing is what is called a futures contract. A futures contract is a deal to sell or buy assets at a set price on a decided date in the future. Under such a contract, one party usually buys either bonds or stocks or other commodities bitcoin, oil or gold. These are delivered only later. The other party to the contract, on the other hand, accepts to deliver the assets as arranged.

Interestingly, an important requirement of the bitcoin futures contracts is that they must be traded on exchanges that are standardized such as the CBoE or CME. Ultimately, the arrival of bitcoin futures in the world of business has had one major effect: It has encouraged traders to invest in digital currency. The ripple effect is that today the cryptocurrency Bitcoin has joined the ranks of mainstream finance options for millions of people around the world.

In conclusion? The choice is ultimately yours. What is certain is that the trade in bitcoin futures is certainly here to stay; for posterity.

Top 10 Strongest Worlds Currencies

There are almost two hundred countries in the world, but that doesn`t mean that every one of them has their own currency. There is a fact that one currency can be used in several, even as the main currency. A high majority of people believe that currencies like the European currency Euro, US dollar, or UK Pound are the strongest one. We are going to present you with the top 10 currencies of the world and the honorable mentions.

Currency No.10 – Canadian Dollar (CAD)

Img source: fxssi.com

When we are talking about the Canadian Dollar, we are talking about the fifth largest reserve of all currencies in the world. Some are calling it Loonie, due to the picture of the bird in the one-dollar coin.

Currency No.9 – US Dollar (USD)

Img source: fxssi.com

Maybe it is not the world`s powerful currency, but it is the world`s most influential one. Some economists are calling it the World Reserve Currency. That means that you can pay with dollars in most of the other countries.

Currency No.8 – Switzerland`s Franc (CHF)

Img source: fxssi.com

Swiss is a very wealthy country. Also, they have one of the most stable currencies in the world. They probably have the most efficient bank system in the world. It is called the Bank Secrecy. Their biggest export product is high technology devices.

Currency No.7 – European Euro (EUR)

Img source: fxssi.com

After the collapse of the German previous currency, Euro emerged as a possibility for all of Europe. And over the years, it has grown drastically. The reason is that it is the official currency in several economically developed countries on the European continent.

Currency No.6 – Cayman Islands Dollar (KYD)

Img source: fxssi.com

The Cayman Islands can thank for their high currency to them being one of a few world’s heavens for taxes. The country itself is supporting various banks that are working inside it.

Currency No.5 – British Pound Sterling (GBP)

Img source: fxssi.com

It is often mistaken that GBP is the world`s strongest currency, but that is not the case. At least it enters the top five. It is the official currency in all of UK, and in the large part of British Crown Commonwealth.

Currency No.4 – Jordan Dinar (JOD)

Img source: fxssi.com

When it comes to Jordan, and its currency, it is not easy to explain how they have such a strong one. The country lacks most of the essential resources and it isn`t economically developed like their neighbor countries.

Currency No.3 – Oman Rial (OMR)

Img source: fxssi.com

Oman is located on the Arabian Peninsula, just beneath Saudi Arabia, and near Yemen. Due to its location, the population of Oman has real quality and wealthy life. The currency is so high that they have ½ and ¼ banknotes.

Currency No.2 – Bahraini Dinar (BHD)

Img source: fxssi.com

After Kuwait, we have another Persian Gulf country, Bahrain, with the population slightly over one million people. Naturally, like the previous one, their biggest profit comes from oil export into the world market.

Currency No.1 – Kuwait Dinar (KWD)

Img source: fxssi.com

Kuwait dinar is the world`s strongest currency. It comes from a very small country that accumulated massive amounts of wealth. The reason is their very significant export of oil into the world`s market.

Honorable Mentions

Now, we will talk about currencies that didn`t make our top ten.

Australian Dollar (AUD)

Img source: fxssi.com

The new design of the Australian dollar is pretty interesting to see. However, Australia prepares itself for a world without cash. We will see how this will turn up at the end.

Azerbaijani Manat (AZN)

Img source: fxssi.com

Azerbaijan is a country that has one of the lowest levels of unemployment. It is slightly weaker than the US Dollar.

Libyan Dinar (LYD)

Img source: fxssi.com

Libya`s currency has tokens named Dirham. It is very interesting to know that 1 Dinar equals 1000 Dirham. Usually in world currencies, one equals a hundred.

Is the High Value of Currency Representing Strong Economy?

We all know that countries who are not economically developed have their currencies decreasing. On the opposite, that is not the case. The country that has its economy and currency growing by the day is not profiting. The reason is, the more powerful currency, the population tends to save it, instead of spending it on a daily basis.

We can give you the Japan example. Even they have one of the strongest economies in the world, their currency is a very small one. $1 equals 109.77 Yen. The information about currencies is used by investors to make their investment plan for a certain country. Naturally, they are choosing the most stable ones. It is simple logic.

8 Best Tips To Manage Your Business Loan

/

Loans are one of the ways to start a business, grow it and protect it during the lean periods. But while loans are beneficial, it can also negatively impact your small business should you fail to meet the agreed repayment scheme. By following these tips for being a responsible narrower, you can ensure maximize the benefits of a business loan and avoid hurting your enterprise.

Establishing good relationships

Business loans have more requirements than a personal loan. If you get a business loan, it will take a bit longer. There are times when banks ask for a list of your clients and vendors to prove that your business is profitable enough to repay the loan.

On the other hand, you can establish a good relationship with your vendor to help you out with your business. When the days are lean, you can ask your long-time vendors to give you a more flexible repayment agreement. You can also ask for discounts should you buy more in bulk. This way you may avoid getting a business loan.

Img source: 1stchoicebusinesscapital.com

Since your vendors can only do as much help for you, you can also have the option of getting a personal loan from a reliable cash mart money lender. Personal loans are easier to apply for and the process is much faster.

Use a loan calculator

Before you start your loan application, whether it be a personal or a business loan, do not forget to use a loan calculator. Banks and reputable lenders usually have put up their loan calculators on their website. It includes their loanable amount, payment term, interest charge, and total payment dues. The best loan calculators even ask for your preferred date of disbursement to give you the possible repayment dates of your installments.

With a loan calculator, you can easily estimate how much you can borrow, how much you can afford to pay, and which repayment term will give you the most convenience. The calculators are absolutely free and you can use it as much as you want.

Know debt-to-income ratio

The debt-to-income ratio is defined as the comparison of your annual profit to your debt. This will tell you if your current finances can still handle the additional loan. If your ratio is 1.0 or higher, then you are in a good position to acquire a business loan.

Img source: zillowstatic.com

On the other hand, if it is below 1.0 it means you have spent your company income too thin. You have to reconsider your finances why trying to see which ways can you save more money. You can ask your employee for suggestions on how you can save without sacrificing your company goods and services to the consumers.

Give yourself a financial cushion

Having a business is not a walk in the park. While you are your own boss, you have to make sure that you are working hard to build your company’s financial cushion. Make sure that you save even the loose change. This way you can build as much as six months of business expenses. Should there be an unforeseen financial setback, you can still have a few months to get back to your feet without putting the quality of your goods in the line.

Your savings will not only make you look like an ideal borrower. It will also give you the capacity to handle emergency situations.

Draft a business plan

Though it does not have to be too detailed, money lenders will ask for your business plan. This will give an idea of what your business is about, how professional you are, and what are your future plans to increase your income. These facts will help the lenders decided if you are creditworthy.

Img source: traviscu.org

Don’t take the first offer

Now that there are too many money lenders that offer business loans, you may get too overwhelmed. Never accept the first offer you get without scrutinizing every detail in your contract and spending time comparing it with other offers. Owners tend to look for business financing options with companies such as Kapitus when it comes to obtaining a cash infusion for daily operations, growth, or ensuring financial security.

Read the reviews first to avoid dealing with loan sharks. Once you decide on the lender, you have to read the fine print. Check if all the charged and fees are transparent. See if there are early payment penalties and other charges that are unclear to you.

Borrow only the amount you can pay

It is tempting to borrow way too much money than you need. But this is too risky if you suddenly get into a rough patch and you will be unable to pay on time. Late payment fees will commence and you will have a hard time balancing your finances. It is best to borrow only what you need and consider the ways to increase your profit margins such as cutting overhead and downsizing.

Make your payments on time

Always make your payments on time. You do not want your credit score to suffer since you will definitely need more loans to expand your business.

 

Paying Religious Taxes

All of you sports aficionados know Allen Iverson of the Philadelphia 76ers and his infamous frustration talk about “practice” during a press conference, which was held more than a decade and a half ago. No, I’m not here to talk about practice either. Someone wants me to talk about taxes; yes, taxes. Even though I already said I wouldn’t “blog” much this year because of too many upcoming commitments, I just couldn’t resist this request from someone who happens to dislike what taxpayers money gets used for. Besides, it’s tax season so why not. When asked about taxes and Christianity, the first response we often get is “give to Cesar what is Cesar’s.” Sadly, we use this quote from Jesus so much for taxes that we miss the overall message that Jesus was trying to send when he made the statement. By so doing, we ignore the most important part of His message. Read Matthew 22:15-22 and let’s talk taxes.

Before going into what Jesus’ overall message was, let me make some quick points on taxes. Should a Christian pay taxes? I hate to say YES but I don’t get to make the call or the rules. It’s the law and it does not contradict the scriptures. I saw a very persuasive email on all the “wrong things” tax payer’s money get used for. Some people are angry because of the things taxpayers money is spent on. To these people, I’ll say, let that be between the government and God. Do your part just like you would with a homeless person who may end up spending your money on something you don’t like. Obviously, in the later, you have more control of who you give your hard earned money to but doing what is right is not a matter of opinion, and I’ll clarify.

source: thoughtco.com

Matthew 22:17-21 – “…Tell us then, what is your opinion? Is it right to pay the imperial tax to Caesar or not?” But Jesus, knowing their evil intent, said, “You hypocrites, why are you trying to trap me? Show me the coin used for paying the tax.” They brought him a denarius, and he asked them, “Whose image is this? And whose inscription?” “Caesar’s,” they replied. Then he said to them, “So give back to Caesar what is Caesar’s, and to God what is God’s.”

Yes, they were trying to trap Jesus and didn’t ask about the law. Yes, they only wanted His opinion as seen in verse 17, so this should be a matter of opinion as some would say. My response would be, don’t you think that Jesus’ opinion should take priority over yours? Jesus called them hypocrites because they knew it was the right thing to do but they are looking for an excuse not to do it, while trying to have Jesus on their side. Don’t forget that these Pharisees, in the same verse also asked Him to tell them if it is the “right” thing to do, which means they were definitely asking for more than His opinion. The last time I checked, Jesus’ opinion is also His law. This was not the first or last time the Pharisees try to trap Jesus with a question and I believe soon after this event, the Sadducees had a question of their own too. In every instance, the answer Jesus gave was not only right but became the standard for the New Testament age.

Now, here is the bigger picture that we should be more concerned about. There is a reason Jesus asked them to look at the coin and say what image/inscription was on it. Jesus could have easily answered the tax question as a Yes or No but He needed them to understand why taxes should be paid to Caesar. Most importantly, Jesus wanted them to see the bigger picture by using this as a teaching moment, which was the spiritual comparison He made when He said “…and to God what is God’s.” Jesus was making a point that it is okay to do what is right or expedient because it is the law. But doing this or following the law of whatever government you are under is not the reason for our existence. It’s like saying “…man shall not live by bread alone but on every word that comes from the mouth of God.” – Matthew 4:4. This simply means physical food is good for us but the spiritual food is way more important and best for us. Jesus even told His disciples in John 4:32-34 the kind of food He is more interested in eating.

source: thoughtco.com

In the same way, giving Caesar his coin as a tax payment is a “good” thing to do but giving ourselves as a sacrifice to God is the “best” thing to do. We have bigger things to worry about than taxes because our salvation is not based on how much taxes we pay. Jesus’ message was deeper than just paying taxes; it was more about giving your soul to the owner. Denarius, the currency of those days, had the image of Caesar (an ancient leader) just as we have our various country’s currencies today bearing the images of our public leaders.

The government makes and regulates currencies. When the Pharisees looked at the denarius (coin) they saw the image and inscription of Caesar. When we look within us, we should see the image and inscription (word) of God; and so should others (2 Corinthians 3:2-3; Acts 11:26). The image and inscription represent ownership. You can’t put the image of a North Korean leader on Canadian currency. You cannot put the image of the British Prime minister on a US Dollar. In the same manner, we cannot occupy our hearts with evil, which will end up displaying characteristics of the devil (John 8:44).

Now, for those who hate paying too much taxes like me, don’t think you are alone. Most people I know don’t mind paying taxes but they hate paying too much taxes. I just want to quickly say that government around the world have always been and will always be corrupt. The problem we face as a society is not if there is corruption in government but how deep and how big or widespread the corruption is. In the past, people will have to dig hard to find something “bad” to say about someone. These days, “evil” is so widely accepted as normal that people now have to dig harder to find something “good” to say – what a reverse. A big widespread corruption produces an unstable government, which usually leads to anger and frustration among people.

source: npr.org

In my personal opinion, the tax cut that only favors a select few is a bad tax cut and described as a “trickle down” cuts. I made this comparison (as seen on the attached image) based on what we all can relate to when it comes to health and fitness. You can’t work on one part of your body and hope that the effect will trickle down to fully benefit the rest of your body. You may see a tiny misleading effect that is more of a mirage, and easily gets mistaken for reality. This false reality ends up producing results and that is not sustainable in the long term. It’s called trickle down economy for a reason.

Lastly, this giving of self to God that Jesus was more concerned about is not only for unbelievers. Those who are members of His kingdom are also required to give ourselves to God for the growth of the entire body of Christ. For those who are not yet members of His kingdom, here’s more on HOW TO DO THIS or click HERE.

Contributed by: Abraham Inetianbor

American Vs. Indian Economy

Indian and American city arrangements are quite different from one another. In America, zoning arrangement is usually followed, which is where working places and the grocery stores are located in different places from houses. In order to buy the things you and your family needs, you will need to drive, sometimes for a long time. However, in India, houses are located in the same location where various stores are scattered around. You can just step outside your home and buy anything that you might need from a store that is relatively close. Cars and other high-technology automobiles are unnecessary in India.

source: wefornews.com

When compared to America, India is quite cheaper. If you transfer 1 US dollar to Indian Rupees, you will get an equivalent of 45.44 Indian Rupees. If you want to check how much is a different sum of money, you can just type in „US to INR“ and you will get a long list of rates.

If you are renting an apartment in India, it is about 30.000-50.000 Rupees, that is equal to 658-1.097 US dollars. For this amount of money, you will be able to get a 3-bedroom apartment in a good neighborhood. However, if you want to rent a 2-bedroom apartment in America, it will probably cost you 2.500 US dollars. In India, education is more expensive. A public grade school, in which the system is not good, is about 30.000-70.000 Indian Rupees ($658-$1.536) per year. If you want to pay for a better school, the tuition fee will start from 90.000-200.000 Rupees ($1.976-$4.391), per annum. In order to get a Bachelor’s degree, the fee will be 200.000 to 500.000 Rupees, which is $4.391 to $10.978 for each year that you study. The learning system is also quite broad that students in India cannot find time to do other activities.

When it comes to food, it is relatively cheaper in India. For a family, with four members, it will cost you a minimum of 15.000 Rupees which is equivalent to 329 dollars a month. Hiring someone to clean your house in America would cost $50 dollars for one visit, or $60-$70 for a weekly visit, while in India, you have the possibility of hiring someone for 4.000 Rupees which is 87 dollars.

source: foxnews.com

At a higher cost, you have the possibility of getting excellent care in America. Medical bills are usually paid through insurance companies. In India, you could visit a doctor for only 100 Rupees, which is equal to $2. It is not customary to get an insurance policy to pay medical bills in India. Although it is drastically cheaper, you will maybe not get the best care that you could.

Salaries for a regular employee in America are several percentages higher than the wages in India, and that is why the way of living in America is more elevated when compared to other countries.

For ages, it has been customary for parents to arrange children’s marriages. The parents would choose their child’s husband or wife. Unlike Americans, who base their relationship on whom they like, Indians base it through the status of their families. Freedom in America is luxuriously enjoyed as long as they do not break any laws or other people’s rights. In India, the government is given more authority to restrict the independence of people, since their decisions are more attached in their constitution.

source: funalive.com

Summary

In India, the working places and stores are located near the homes on many Indian, while in America, the houses are separate from work and grocery stores. The way of life and living in America is much more expensive when compared to India. However, education costs more in India than in America. For a high cost, you will be able to get excellent medical care with insurance to pay for some of the bills, not all. And in India, medical care is cheaper and usually paid in cash. And lastly, freedom is greatly enjoyed by Americans, while in India, the government is given more authority to restrict freedom among Indians.

1 4 5 6