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This Simple Money Habit Is Going Viral on Social Media | Smart Money Tip

Leave a Comment / Knowledge, Personal Finance / Abhishek Kandir

This Simple Money Habit Is Going Viral on Social Media People scroll past thousands of posts each day promising financial transformation through complex strategies and disciplined routines. Yet the money habit currently dominating TikTok and Instagram involves something most financial experts have historically dismissed as too basic to matter: physically separating small amounts of cash […]

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How to Track Your Spending Using Just Your Phone

Leave a Comment / Knowledge, Personal Finance / Abhishek Kandir

How to Track Your Spending Using Just Your Phone Gone are the days of keeping receipts in shoeboxes or scribbling expenses in paper ledgers. Today, your smartphone—the device already in your pocket—can become your most powerful financial tool. With just a few taps, you can track your spending, monitor every dollar you spend, identify money

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How Compound Interest Works (Simple Explanation With Examples)

1 Comment / Knowledge, Finance / Abhishek Kandir

How Compound Interest Works: A Complete Guide to Understanding Your Money’s Growth Compound interest is often called the eighth wonder of the world, and for good reason. It’s the financial mechanism that allows your money to grow exponentially over time, turning modest savings into substantial wealth. Yet despite its importance, many people don’t fully grasp

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How Is Elon Musk So Rich? The Real Money Secrets Behind His Billions

Leave a Comment / Knowledge / Abhishek Kandir

How Is Elon Musk So Rich? The Complete Story Behind His Fortune Elon Musk’s name has become synonymous with extraordinary wealth. As one of the richest people on the planet, with a net worth that has exceeded $200 billion at various points, the question “how is Elon Musk so rich?” fascinates millions. Unlike traditional billionaires

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How Do Rich People Invest Their Money? Wealth Strategies & Tips Revealed

Leave a Comment / Knowledge, Personal Finance / Abhishek Kandir

How Do Rich People Invest Their Money? A Complete Guide to Wealth-Building Strategies The path to substantial wealth isn’t just about earning more—it’s about investing smarter. While the average investor might dabble in stocks or maintain a basic savings account, wealthy individuals approach investing with sophisticated strategies, disciplined diversification, and a long-term vision that transforms

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How Savings Account Transactions Are Tracked by Banks

1 Comment / Personal Finance, Knowledge / Abhishek Kandir

Introduction: Why Transaction Tracking Matters Savings Account Transactions are at the heart of how banks manage your money. Every deposit, withdrawal, transfer, or payment you make is logged, monitored, and tracked to ensure accuracy, compliance, and security. Banks track these transactions not only to protect themselves but also to protect you. Accurate tracking ensures correct

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How Savings Account Withdrawal Limits Work

Leave a Comment / Knowledge, Personal Finance / Abhishek Kandir

Introduction: Why Savings Accounts Have Withdrawal Limits A Savings Account Withdrawal is designed to move money out of a savings account when needed—but not as frequently as spending from a checking account. In the U.S., banks impose withdrawal limits to reinforce the purpose of savings accounts: storing money rather than facilitating everyday transactions. Many consumers

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How Banks Calculate Average Monthly Balance Internally

1 Comment / Knowledge, Personal Finance / Abhishek Kandir

Introduction: Why Average Monthly Balance Matters The average monthly balance is one of the most important internal metrics U.S. banks use to manage savings and checking accounts. While customers often focus on the balance they see in their mobile app, banks rely on average balance data to decide whether fees apply, whether interest is earned,

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How Minimum Balance Rules Work in Savings Accounts

Leave a Comment / Finance, Knowledge / Abhishek Kandir

Introduction: Why Minimum Balance Rules Matter Minimum balance rules are one of the most misunderstood aspects of U.S. savings accounts. Many consumers open a savings account expecting it to be fee-free, only to later discover monthly charges or reduced interest because their balance fell below a required threshold. These rules are not arbitrary. Banks use

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How Banks Decide Savings Account Interest Rates

2 Comments / Knowledge, Finance / Abhishek Kandir

Introduction: Why Savings Account Rates Are Not Random Many Americans believe that savings account interest rates are simply arbitrary numbers banks post on their websites, or worse, that all banks pay roughly the same rates. Neither assumption is correct. In reality, the interest rate you earn on your savings account is the result of a

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