WoW-WarlordsOfDraenor-logo thumbnail

Hero on a Budget: Learn Money Management from the World of Warcraft

 

WoW-WarlordsOfDraenor-logo

Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.

What better way to practice going broke, or testing out financial decisions than through the virtual world of Draenor?  World of Warcraft is a massive multiplayer online role-playing game developed by Blizzard Entertainment.  It is an online game where millions of players from around the world assume the roles of heroic fantasy characters and explore a world full of magic and mystery. You start out as a newcomer, and must learn and practice your skills to survive.  Earning and spending money is a key aspect of the success of your character. At the beginning, you are given a small satchel to carry your belongings as well as some basic gear.  You earn everything you need from this point onward.  You explore and collect items, earning money and objects through quests.  You first earn copper pieces, then silver, then gold.  Much like the real world, you have to prove your abilities with less lucrative jobs, before you can advance to better ones. Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.  There’s no silver spoon handed to you from the start.

 

Recipe_Dragonbreath_Chili_Helenia_Olden

 

WoW can actually be a pretty useful tool in learning personal financial literacy or the ability to manage and understand your financial conditions.  This includes the ability to make financial choices, talk about money and financial issues with others, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy.  Luckily in the WoW there are no economic reasons to ever worry about anything but yourself.  So it puts your financial planning in a bit of a bubble, but thats ok for practice purposes. Here are some tips on how to manage your wealth as an Elf…

 

world-of-warcraft-bank-vault

 

1. Pawning for Power: In the game you must manage your budget.  The games’ creators have carefully balanced objects’ values based on your location and your likelihood of affording certain items you might need – like a better set of armor or better weapons.  Through quests, and selling back items you find (like pawning in the real world) you can build up a small amount to be able to buy things for yourself.

2. Auction House Hustle: When you have amassed a large quantity of items, either through farming, looting, or crafting, you can sell these items in bulk, directly to other players through the auction house. Real players may need something very specific that they wouldn’t be able to find anywhere else.  Much like the real world, supply and demand dictate the prices in the auction house.  You can compare the current going rate for certain items, and then undercut your selling price to try and win some sales first.  This is the best way to earn a LOT of money all at once.

3. Stash your Cash: Your coin purse is similar to a basic checking account.  You see your balance after making a purchase.  There are bank vaults where you can store more items or money that you won’t be able to spend immediately without retrieving – like a savings account.  This is a smart solution to curb the desire to spend all of your money in one place or to squander your money without planning for the future – like buying that super expensive flying mount.

Luckily, WoW is still a fantasy realm and you don’t have to face the greatest monster of them all, DEBT. But there are still valuable money management lessons you can learn along your quest to rule the kingdom.

bitcoin_01_c71b4abb52 thumbnail

Bitcoin: The History of Money and the Future of Digital Currency

MONEY! Is it the root of all evil? If you have more money, do you have more problems? Who created money? Why was it created?

 

Screen Shot 2015-06-11 at 12.25.22 PM

 

The Internet has a history of people being skeptical about spending their hard earned real world cash in a virtual space. Many people were afraid of Internet scams when ebay was first launched in the late 1990s, and with good reason. There were fears of using Paypal to make online payments and never receiving your product. Over time, online spending has become commonplace. With Amazon.com, iTunes, and the google Play store (to name a few) it’s becoming less common to do your shopping in the physical world. Buying music, books, clothes and even groceries online is viewed as safe and normal in our current society.

bitcoin stacks

With all of our digital spending, there is now a growing trend in developing a digital currency. There have been attempts at this since 1990 (see the failed Whoopie Goldburg endorsed “Flooz”) but in the past few years there has been a stronger acceptance of digital currency and there is a possibility that Bitcoin could become a new common form of money. It would be money without government regulation, recognized across the world, completely revolutionizing the way our global economy functions.

Of course, with a brand new form of currency, there are a few concerns. Many digital currencies have failed because they have been used for money laundering. With anonymous identities, digital currencies have been used to buy and sell drugs and make other illegal transactions over Dark Web marketplaces like the Silk Road.

So, what does the future look like for digital currencies? Are you ready to join the Bitcoin revolution? Is it a safe investment or a waste of money? In this lesson, take a look at the history of money and where it’s heading in order to make a choice on where you stand.

 

History-of-Money

American-Express-Black-Card-Review thumbnail

The Legendary Black Card Explained

It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

If you know what a credit card is and you listen to rap, follow celebrity gossip, or have dreams of becoming massively wealthy one day, chances are you know what the Visa Black Card is. Even the mention of this exclusive card is enough to make you wonder just how rich you have to be to get your hands on one. After all, there’s all this hype about the card that contributes to its mystique. Read further to unpack just how exclusive the card really is. Is it really that hard to get? What real perks does it offer?

American-Express-Black-Card-Review

In order to fully understand the Black Card and the celebrity status it promotes, you should understand the basic fundamentals of credit cards. Credit is an equation and it has two sides — the lender and the borrower. Having the ability to borrow money when you need it gives you flexibility and peace of mind. Still, and all too often, individuals borrow more than what they actually need and fail to pay it off. If you understand that you are being charged money to actually use this credit, many people might think twice before pulling out their plastic. If you understand how credit works, use it only when you need it (to stand in for cash you already have in the bank) and avoid having too much debt, you can call yourself financially responsible.   Many young people don’t realize that responsible use of credit can actually help a person reach their goals.

Basic terms you should be familiar with: Creditors and Debt. Those who lend you money are called lenders or creditors; the money you owe is called debt.

Back in the 1980’s, in the era when Gordon Gekko famously said in the movie “Wall Street” that “greed is good,” rumors were that there was a credit card issued by American Express that was capable of purchasing anything anywhere. An urban legend, the card was nearly impossible to get and was all black. In other words, it had no credit limit. Just to give a reference point, most credit cards range between $500.00 and $4,500.00 depending on your credit rating to start. Some banks won’t issue a credit card to a potential borrower with poor or no credit, for fear they will not be able to pay back the debt.

 

Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. But just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating and spending habits will also be carefully studied to see if you are the right candidate for the card.

Instead of letting fantasy live in the minds of would be big spenders, in 1999, American Express decided to bring that dream to life. They took the elements of a powerful credit card and made a card that reflected all these from the color to the exclusivity. They called it the Centurion Card, but it more popularly known as the Black Card. Other creditors followed suite and issued exclusive Black Cards bearing their insignia.

So where do these celebrity flaunted cards with infinite spending power come from? What are the Black Card’s features? Who gets these cards? The fact is that not everyone can get the Black Card. The card is issued out by invitation only. You not only have to be affluent to be invited, but you have to be extremely rich. You’re not just in the who’s who social circle, you have to be part of the social elite.

A quick figure to help you understand: Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. OK, but just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating (how responsible you are with your money) and spending habits will also be carefully studied to see if you are the right candidate for the card.

Once you are vetted, one of these creditors MIGHT send you an invitation to own a card. You might jump at the chance, thinking that it is just like other credit cards that offer incentives like free membership and zero fees. But in realty, the Black Card will charge you with massive dues and in some cases an initiation fee for those who wish to sign on with the card (in the United States, the fee is $7,500). In many cases there’s also an annual fee of $2,500.

Since the vast majority of us will not actually handle one of these cards, it’s fun to imagine what exclusivity feels like. For starters, the card is black and made of anodized titanium. Your information and numbers are imprinted in carbon fibre. The hard texture of the card actually makes it “clink” when one places it on the counter.

Lil_Wayne_Black_Card_Boy

The proliferation of the Black Card’s mention in pop culture, brings to the surface the power trip associated with such cards, namely the Visa Black Card. One of the big draws for the card it it’s concierge service.  Imagine going on a spur of the moment vacation in  a private jet, with drivers lined up to take you from the airport to a local hotspot for some early partying before whisking you, and any new friends, to a world class dining experience.  Nice, huh?

It’s a good thing to use credit wisely and to not spend beyond your means. An overlooked fact is that credit card companies want your business, because they make a profit when you borrow. Although purchasing something, anything, with a credit card is easy, it is a practice that can come back and bite you in the end. It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

WoW-WarlordsOfDraenor-logo thumbnail

Hero on a Budget: Learn Money Management from the World of Warcraft

Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.
What better way to practice going broke, or testing out financial decisions than through the virtual world of Draenor?  World of Warcraft is a massive multiplayer online role-playing game developed by Blizzard Entertainment.  It is an online game where millions of players from around the world assume the roles of heroic fantasy characters and explore a world full of magic and mystery. You start out as a newcomer, and must learn and practice your skills to survive.  Earning and spending money is a key aspect of the success of your character. At the beginning, you are given a small satchel to carry your belongings as well as some basic gear.  You earn everything you need from this point onward.  You explore and collect items, earning money and objects through quests.  You first earn copper pieces, then silver, then gold.  Much like the real world, you have to prove your abilities with less lucrative jobs, before you can advance to better ones. Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.  There’s no silver spoon handed to you from the start.

WoW can actually be a pretty useful tool in learning personal financial literacy or the ability to manage and understand your financial conditions.  This includes the ability to make financial choices, talk about money and financial issues with others, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy.  Luckily in the WoW there are no economic reasons to ever worry about anything but yourself.  So it puts your financial planning in a bit of a bubble, but thats ok for practice purposes. Here are some tips on how to manage your wealth as an Elf…

1. Pawning for Power: In the game you must manage your budget.  The games’ creators have carefully balanced objects’ values based on your location and your likelihood of affording certain items you might need – like a better set of armor or better weapons.  Through quests, and selling back items you find (like pawning in the real world) you can build up a small amount to be able to buy things for yourself.

2. Auction House Hustle: When you have amassed a large quantity of items, either through farming, looting, or crafting, you can sell these items in bulk, directly to other players through the auction house. Real players may need something very specific that they wouldn’t be able to find anywhere else.  Much like the real world, supply and demand dictate the prices in the auction house.  You can compare the current going rate for certain items, and then undercut your selling price to try and win some sales first.  This is the best way to earn a LOT of money all at once.

3. Stash your Cash: Your coin purse is similar to a basic checking account.  You see your balance after making a purchase.  There are bank vaults where you can store more items or money that you won’t be able to spend immediately without retrieving – like a savings account.  This is a smart solution to curb the desire to spend all of your money in one place or to squander your money without planning for the future – like buying that super expensive flying mount.

Luckily, WoW is still a fantasy realm and you don’t have to face the greatest monster of them all, DEBT. But there are still valuable money management lessons you can learn along your quest to rule the kingdom.

WoW-WarlordsOfDraenor-logo thumbnail

Hero on a Budget: Learn Money Management from the World of Warcraft

Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.
What better way to practice going broke, or testing out financial decisions than through the virtual world of Draenor?  World of Warcraft is a massive multiplayer online role-playing game developed by Blizzard Entertainment.  It is an online game where millions of players from around the world assume the roles of heroic fantasy characters and explore a world full of magic and mystery. You start out as a newcomer, and must learn and practice your skills to survive.  Earning and spending money is a key aspect of the success of your character. At the beginning, you are given a small satchel to carry your belongings as well as some basic gear.  You earn everything you need from this point onward.  You explore and collect items, earning money and objects through quests.  You first earn copper pieces, then silver, then gold.  Much like the real world, you have to prove your abilities with less lucrative jobs, before you can advance to better ones. Even in the fantasy world, there are no shortcuts to success, everyone in the WoW starts off at the bottom and works their way up.  There’s no silver spoon handed to you from the start.

WoW can actually be a pretty useful tool in learning personal financial literacy or the ability to manage and understand your financial conditions.  This includes the ability to make financial choices, talk about money and financial issues with others, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy.  Luckily in the WoW there are no economic reasons to ever worry about anything but yourself.  So it puts your financial planning in a bit of a bubble, but thats ok for practice purposes. Here are some tips on how to manage your wealth as an Elf…

1. Pawning for Power: In the game you must manage your budget.  The games’ creators have carefully balanced objects’ values based on your location and your likelihood of affording certain items you might need – like a better set of armor or better weapons.  Through quests, and selling back items you find (like pawning in the real world) you can build up a small amount to be able to buy things for yourself.

2. Auction House Hustle: When you have amassed a large quantity of items, either through farming, looting, or crafting, you can sell these items in bulk, directly to other players through the auction house. Real players may need something very specific that they wouldn’t be able to find anywhere else.  Much like the real world, supply and demand dictate the prices in the auction house.  You can compare the current going rate for certain items, and then undercut your selling price to try and win some sales first.  This is the best way to earn a LOT of money all at once.

3. Stash your Cash: Your coin purse is similar to a basic checking account.  You see your balance after making a purchase.  There are bank vaults where you can store more items or money that you won’t be able to spend immediately without retrieving – like a savings account.  This is a smart solution to curb the desire to spend all of your money in one place or to squander your money without planning for the future – like buying that super expensive flying mount.

Luckily, WoW is still a fantasy realm and you don’t have to face the greatest monster of them all, DEBT. But there are still valuable money management lessons you can learn along your quest to rule the kingdom.

American-Express-Black-Card-Review thumbnail

The Legendary Black Card Explained

It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.
If you know what a credit card is and you listen to rap, follow celebrity gossip, or have dreams of becoming massively wealthy one day, chances are you know what the Visa Black Card is. Even the mention of this exclusive card is enough to make you wonder just how rich you have to be to get your hands on one. After all, there’s all this hype about the card that contributes to its mystique. Read further to unpack just how exclusive the card really is. Is it really that hard to get? What real perks does it offer?

In order to fully understand the Black Card and the celebrity status it promotes, you should understand the basic fundamentals of credit cards. Credit is an equation and it has two sides — the lender and the borrower. Having the ability to borrow money when you need it gives you flexibility and peace of mind. Still, and all too often, individuals borrow more than what they actually need and fail to pay it off. If you understand that you are being charged money to actually use this credit, many people might think twice before pulling out their plastic. If you understand how credit works, use it only when you need it (to stand in for cash you already have in the bank) and avoid having too much debt, you can call yourself financially responsible.   Many young people don’t realize that responsible use of credit can actually help a person reach their goals.

Basic terms you should be familiar with: Creditors and Debt. Those who lend you money are called lenders or creditors; the money you owe is called debt.

Back in the 1980’s, in the era when Gordon Gekko famously said in the movie “Wall Street” that “greed is good,” rumors were that there was a credit card issued by American Express that was capable of purchasing anything anywhere. An urban legend, the card was nearly impossible to get and was all black. In other words, it had no credit limit. Just to give a reference point, most credit cards range between $500.00 and $4,500.00 depending on your credit rating to start. Some banks won’t issue a credit card to a potential borrower with poor or no credit, for fear they will not be able to pay back the debt.

Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. But just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating and spending habits will also be carefully studied to see if you are the right candidate for the card.
Instead of letting fantasy live in the minds of would be big spenders, in 1999, American Express decided to bring that dream to life. They took the elements of a powerful credit card and made a card that reflected all these from the color to the exclusivity. They called it the Centurion Card, but it more popularly known as the Black Card. Other creditors followed suite and issued exclusive Black Cards bearing their insignia.

So where do these celebrity flaunted cards with infinite spending power come from? What are the Black Card’s features? Who gets these cards? The fact is that not everyone can get the Black Card. The card is issued out by invitation only. You not only have to be affluent to be invited, but you have to be extremely rich. You’re not just in the who’s who social circle, you have to be part of the social elite.

A quick figure to help you understand: Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. OK, but just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating (how responsible you are with your money) and spending habits will also be carefully studied to see if you are the right candidate for the card.

Once you are vetted, one of these creditors MIGHT send you an invitation to own a card. You might jump at the chance, thinking that it is just like other credit cards that offer incentives like free membership and zero fees. But in realty, the Black Card will charge you with massive dues and in some cases an initiation fee for those who wish to sign on with the card (in the United States, the fee is $7,500). In many cases there’s also an annual fee of $2,500.

Since the vast majority of us will not actually handle one of these cards, it’s fun to imagine what exclusivity feels like. For starters, the card is black and made of anodized titanium. Your information and numbers are imprinted in carbon fibre. The hard texture of the card actually makes it “clink” when one places it on the counter.

The proliferation of the Black Card’s mention in pop culture, brings to the surface the power trip associated with such cards, namely the Visa Black Card. One of the big draws for the card it it’s concierge service.  Imagine going on a spur of the moment vacation in  a private jet, with drivers lined up to take you from the airport to a local hotspot for some early partying before whisking you, and any new friends, to a world class dining experience.  Nice, huh?

It’s a good thing to use credit wisely and to not spend beyond your means. An overlooked fact is that credit card companies want your business, because they make a profit when you borrow. Although purchasing something, anything, with a credit card is easy, it is a practice that can come back and bite you in the end. It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

American-Express-Black-Card-Review thumbnail

The Legendary Black Card Explained

It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.
If you know what a credit card is and you listen to rap, follow celebrity gossip, or have dreams of becoming massively wealthy one day, chances are you know what the Visa Black Card is. Even the mention of this exclusive card is enough to make you wonder just how rich you have to be to get your hands on one. After all, there’s all this hype about the card that contributes to its mystique. Read further to unpack just how exclusive the card really is. Is it really that hard to get? What real perks does it offer?

In order to fully understand the Black Card and the celebrity status it promotes, you should understand the basic fundamentals of credit cards. Credit is an equation and it has two sides — the lender and the borrower. Having the ability to borrow money when you need it gives you flexibility and peace of mind. Still, and all too often, individuals borrow more than what they actually need and fail to pay it off. If you understand that you are being charged money to actually use this credit, many people might think twice before pulling out their plastic. If you understand how credit works, use it only when you need it (to stand in for cash you already have in the bank) and avoid having too much debt, you can call yourself financially responsible.   Many young people don’t realize that responsible use of credit can actually help a person reach their goals.

Basic terms you should be familiar with: Creditors and Debt. Those who lend you money are called lenders or creditors; the money you owe is called debt.

Back in the 1980’s, in the era when Gordon Gekko famously said in the movie “Wall Street” that “greed is good,” rumors were that there was a credit card issued by American Express that was capable of purchasing anything anywhere. An urban legend, the card was nearly impossible to get and was all black. In other words, it had no credit limit. Just to give a reference point, most credit cards range between $500.00 and $4,500.00 depending on your credit rating to start. Some banks won’t issue a credit card to a potential borrower with poor or no credit, for fear they will not be able to pay back the debt.

Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. But just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating and spending habits will also be carefully studied to see if you are the right candidate for the card.
Instead of letting fantasy live in the minds of would be big spenders, in 1999, American Express decided to bring that dream to life. They took the elements of a powerful credit card and made a card that reflected all these from the color to the exclusivity. They called it the Centurion Card, but it more popularly known as the Black Card. Other creditors followed suite and issued exclusive Black Cards bearing their insignia.

So where do these celebrity flaunted cards with infinite spending power come from? What are the Black Card’s features? Who gets these cards? The fact is that not everyone can get the Black Card. The card is issued out by invitation only. You not only have to be affluent to be invited, but you have to be extremely rich. You’re not just in the who’s who social circle, you have to be part of the social elite.

A quick figure to help you understand: Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. OK, but just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating (how responsible you are with your money) and spending habits will also be carefully studied to see if you are the right candidate for the card.

Once you are vetted, one of these creditors MIGHT send you an invitation to own a card. You might jump at the chance, thinking that it is just like other credit cards that offer incentives like free membership and zero fees. But in realty, the Black Card will charge you with massive dues and in some cases an initiation fee for those who wish to sign on with the card (in the United States, the fee is $7,500). In many cases there’s also an annual fee of $2,500.

Since the vast majority of us will not actually handle one of these cards, it’s fun to imagine what exclusivity feels like. For starters, the card is black and made of anodized titanium. Your information and numbers are imprinted in carbon fibre. The hard texture of the card actually makes it “clink” when one places it on the counter.

The proliferation of the Black Card’s mention in pop culture, brings to the surface the power trip associated with such cards, namely the Visa Black Card. One of the big draws for the card it it’s concierge service.  Imagine going on a spur of the moment vacation in  a private jet, with drivers lined up to take you from the airport to a local hotspot for some early partying before whisking you, and any new friends, to a world class dining experience.  Nice, huh?

It’s a good thing to use credit wisely and to not spend beyond your means. An overlooked fact is that credit card companies want your business, because they make a profit when you borrow. Although purchasing something, anything, with a credit card is easy, it is a practice that can come back and bite you in the end. It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

American-Express-Black-Card-Review thumbnail

The Legendary Black Card Explained

It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.
If you know what a credit card is and you listen to rap, follow celebrity gossip, or have dreams of becoming massively wealthy one day, chances are you know what the Visa Black Card is. Even the mention of this exclusive card is enough to make you wonder just how rich you have to be to get your hands on one. After all, there’s all this hype about the card that contributes to its mystique. Read further to unpack just how exclusive the card really is. Is it really that hard to get? What real perks does it offer?

In order to fully understand the Black Card and the celebrity status it promotes, you should understand the basic fundamentals of credit cards. Credit is an equation and it has two sides — the lender and the borrower. Having the ability to borrow money when you need it gives you flexibility and peace of mind. Still, and all too often, individuals borrow more than what they actually need and fail to pay it off. If you understand that you are being charged money to actually use this credit, many people might think twice before pulling out their plastic. If you understand how credit works, use it only when you need it (to stand in for cash you already have in the bank) and avoid having too much debt, you can call yourself financially responsible.   Many young people don’t realize that responsible use of credit can actually help a person reach their goals.

Basic terms you should be familiar with: Creditors and Debt. Those who lend you money are called lenders or creditors; the money you owe is called debt.

Back in the 1980’s, in the era when Gordon Gekko famously said in the movie “Wall Street” that “greed is good,” rumors were that there was a credit card issued by American Express that was capable of purchasing anything anywhere. An urban legend, the card was nearly impossible to get and was all black. In other words, it had no credit limit. Just to give a reference point, most credit cards range between $500.00 and $4,500.00 depending on your credit rating to start. Some banks won’t issue a credit card to a potential borrower with poor or no credit, for fear they will not be able to pay back the debt.

Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. But just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating and spending habits will also be carefully studied to see if you are the right candidate for the card.
Instead of letting fantasy live in the minds of would be big spenders, in 1999, American Express decided to bring that dream to life. They took the elements of a powerful credit card and made a card that reflected all these from the color to the exclusivity. They called it the Centurion Card, but it more popularly known as the Black Card. Other creditors followed suite and issued exclusive Black Cards bearing their insignia.

So where do these celebrity flaunted cards with infinite spending power come from? What are the Black Card’s features? Who gets these cards? The fact is that not everyone can get the Black Card. The card is issued out by invitation only. You not only have to be affluent to be invited, but you have to be extremely rich. You’re not just in the who’s who social circle, you have to be part of the social elite.

A quick figure to help you understand: Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. OK, but just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating (how responsible you are with your money) and spending habits will also be carefully studied to see if you are the right candidate for the card.

Once you are vetted, one of these creditors MIGHT send you an invitation to own a card. You might jump at the chance, thinking that it is just like other credit cards that offer incentives like free membership and zero fees. But in realty, the Black Card will charge you with massive dues and in some cases an initiation fee for those who wish to sign on with the card (in the United States, the fee is $7,500). In many cases there’s also an annual fee of $2,500.

Since the vast majority of us will not actually handle one of these cards, it’s fun to imagine what exclusivity feels like. For starters, the card is black and made of anodized titanium. Your information and numbers are imprinted in carbon fibre. The hard texture of the card actually makes it “clink” when one places it on the counter.

The proliferation of the Black Card’s mention in pop culture, brings to the surface the power trip associated with such cards, namely the Visa Black Card. One of the big draws for the card it it’s concierge service.  Imagine going on a spur of the moment vacation in  a private jet, with drivers lined up to take you from the airport to a local hotspot for some early partying before whisking you, and any new friends, to a world class dining experience.  Nice, huh?

It’s a good thing to use credit wisely and to not spend beyond your means. An overlooked fact is that credit card companies want your business, because they make a profit when you borrow. Although purchasing something, anything, with a credit card is easy, it is a practice that can come back and bite you in the end. It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

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The Legendary Black Card Explained

It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.
If you know what a credit card is and you listen to rap, follow celebrity gossip, or have dreams of becoming massively wealthy one day, chances are you know what the Visa Black Card is. Even the mention of this exclusive card is enough to make you wonder just how rich you have to be to get your hands on one. After all, there’s all this hype about the card that contributes to its mystique. Read further to unpack just how exclusive the card really is. Is it really that hard to get? What real perks does it offer?

In order to fully understand the Black Card and the celebrity status it promotes, you should understand the basic fundamentals of credit cards. Credit is an equation and it has two sides — the lender and the borrower. Having the ability to borrow money when you need it gives you flexibility and peace of mind. Still, and all too often, individuals borrow more than what they actually need and fail to pay it off. If you understand that you are being charged money to actually use this credit, many people might think twice before pulling out their plastic. If you understand how credit works, use it only when you need it (to stand in for cash you already have in the bank) and avoid having too much debt, you can call yourself financially responsible.   Many young people don’t realize that responsible use of credit can actually help a person reach their goals.

Basic terms you should be familiar with: Creditors and Debt. Those who lend you money are called lenders or creditors; the money you owe is called debt.

Back in the 1980’s, in the era when Gordon Gekko famously said in the movie “Wall Street” that “greed is good,” rumors were that there was a credit card issued by American Express that was capable of purchasing anything anywhere. An urban legend, the card was nearly impossible to get and was all black. In other words, it had no credit limit. Just to give a reference point, most credit cards range between $500.00 and $4,500.00 depending on your credit rating to start. Some banks won’t issue a credit card to a potential borrower with poor or no credit, for fear they will not be able to pay back the debt.

Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. But just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating and spending habits will also be carefully studied to see if you are the right candidate for the card.
Instead of letting fantasy live in the minds of would be big spenders, in 1999, American Express decided to bring that dream to life. They took the elements of a powerful credit card and made a card that reflected all these from the color to the exclusivity. They called it the Centurion Card, but it more popularly known as the Black Card. Other creditors followed suite and issued exclusive Black Cards bearing their insignia.

So where do these celebrity flaunted cards with infinite spending power come from? What are the Black Card’s features? Who gets these cards? The fact is that not everyone can get the Black Card. The card is issued out by invitation only. You not only have to be affluent to be invited, but you have to be extremely rich. You’re not just in the who’s who social circle, you have to be part of the social elite.

A quick figure to help you understand: Black Card members have an average of around $16.3 million in assets and a household income of $1.3 million. OK, but just because you meet those criteria, you still are not guaranteed an invitation. Your credit rating (how responsible you are with your money) and spending habits will also be carefully studied to see if you are the right candidate for the card.

Once you are vetted, one of these creditors MIGHT send you an invitation to own a card. You might jump at the chance, thinking that it is just like other credit cards that offer incentives like free membership and zero fees. But in realty, the Black Card will charge you with massive dues and in some cases an initiation fee for those who wish to sign on with the card (in the United States, the fee is $7,500). In many cases there’s also an annual fee of $2,500.

Since the vast majority of us will not actually handle one of these cards, it’s fun to imagine what exclusivity feels like. For starters, the card is black and made of anodized titanium. Your information and numbers are imprinted in carbon fibre. The hard texture of the card actually makes it “clink” when one places it on the counter.

The proliferation of the Black Card’s mention in pop culture, brings to the surface the power trip associated with such cards, namely the Visa Black Card. One of the big draws for the card it it’s concierge service.  Imagine going on a spur of the moment vacation in  a private jet, with drivers lined up to take you from the airport to a local hotspot for some early partying before whisking you, and any new friends, to a world class dining experience.  Nice, huh?

It’s a good thing to use credit wisely and to not spend beyond your means. An overlooked fact is that credit card companies want your business, because they make a profit when you borrow. Although purchasing something, anything, with a credit card is easy, it is a practice that can come back and bite you in the end. It is important to note that no matter what color credit card you sign up for, in order to keep your finances and your credit rating out of the red, you must spend wisely.

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Movin’ On Up: Salaries in Professional Sports

 

Ever since the dawn of professional sports in America, a few things have remained constant. For instance, fans have always filled stadiums and arenas to see their favorite teams. Additionally, outstanding players have consistently amazed their loyal fans throughout the years. And championships have always been a big deal.

The most consistent trend in professional sports is that players have constantly earned more money than the ones that came before them. Way back in the 1930s, many Americans complained when baseball superstar Babe Ruth earned $80,000 per season, more than President Hoover made at the time. Looking back, Ruth’s salary would seem like pocket change to many modern athletes.

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This year, NBA player LeBron James will earn a $24 million salary, many times more than Ruth earned in his entire career. And that doesn’t even include endorsements that will make James tens of millions of dollars more. The same is true of the top players in all the other major sports, as well. In baseball, pitcher Zack Greinke will earn over $34 million in the upcoming season. In the NFL, meanwhile, top players like Aaron Rodgers, Russell Wilson, and Cam Newton make more than $20 million each year.

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In the hundred years since the start of Ruth’s career, player salaries have displayed a consistently increasing rate of change. Future professional athletes should be happy to know that they’ll almost certainly make more than today’s players.