Money facilitates the billions (and trillions) of transactions that take place each day across the globe. Step-by-step diagrams and eye-catching visuals help explain how this is done. They show you how governments raise and control (as well as tax) money; how the stock exchange works; how analysts predict where shares will go next; and much more. They also explain technical terminology such as quantitative easing, bond markets, cash flow, and the open market - so you can understand what's really happening behind the scenes.
Our forefathers might have used simple bartering methods to trade goods and services, but nowadays we rely on complex financial instruments to fund our retirement plans, pay for our homes, and secure our children’s future. How Money Works provides an in depth explanation of how money works, as well as how it can be manipulated through online scams. From understanding the various types of currency to investing wisely, this book provides everything you need to get the most out of your hard-earned cash.
Banks often offer credit cards to people who do not qualify for loans because they already have good credit. They do so by offering low interest rates and easy repayment schedules. In order to attract new customers, they may offer cash back rewards for purchases made through their own bank card. These rewards are typically based on spending limits, such as $2,000 per month. Some companies offer discounts on goods and services to people who carry their debit or credit card. For example, a restaurant might give 10% off their bill to anyone who brings their card. A gas station might offer 5 cents off per gallon of gasoline purchased with a debit card.
Putting money into savings account and fixed-term deposit is low-risk, so they're safe options for cautious investors. But investors should also consider whether their money will earn enough interest to cover living expenses. Fund managers and advisers often provide risk profiles to individuals to help them decide which investments best suit them, and these questionnaires examine an investor’s tolerance to risk, time horizon, objectives, and investment skills.
Credit cards allow individuals to make purchases on credit, up to an agreed amount. They may spend as much as they wish, and incur no interest charges until they repay the entire sum. However, users must pay off the balance (the accrued debt) in full every month.
This book is, rather simply, phenomenally executed; everything is concisely and succinctlily laid out, always in either visual or textual form. The subjects covered, which range from a comparative analysis of the differing diets across the globe and their effects on their populations, to how the body absorbs protein, fats, carbs and alcohol, is extremely eye-opening, and very pleasantly surprised with this purchase. I'll likely be picking up others from DK, too.
I purchased this book because I wanted to learn how to teach myself something new. I'm not a teacher so I thought this would be a great reference. In reality, I found it to be a waste of money. The graphics were nice, but the information was sparse. I expected a lot more out of such a high priced book. I also expected more substance than just "hey, here's a bunch of formulas". I think that if I had read this book before taking any finance classes, I would have been able to get through the material without too much trouble. But I am a self taught person so I really couldn't tell if this book was worth the price tag.
How Money Works notes that the UK began a quantitative easing program in early 2009, following an interest rate cut to almost zero. The majority of the new money was used to buy government bonds. The effects of quantitative easing depend on what buyers do with the money they received from selling assets, and on what banks do with the extra liquidity they obtained. The Bank of England thinks quantitative easing has boosted growth, but also at the cost of higher price rises and increased inequality of wealth.
I have the book, and nowhere do they mention or imply that central banks are government-owned. Central banks' ownership is beyond the scope of the book, and it does an excellent job by sticking to the facts. Lastly, when the reviewer says "central banks are privately owned," he is being dishonest; most central banks are actually government-owned. Two exceptions are the Federal Reserve and the Bank of Italy, which are indeed privately owned. For the rest, they're either wholly owned by governments (like the Bank of England), or a mix of private and public ownership (as in Switzerland).
This purchase was not for any child - but rather for myself. It is an awesome book! I have a difficult time focusing, so books like these are perfect for me. The hardback book in your hands, or resting on a cushion on the couch, or lying down in bed - it's an excellent read. You do not feel trapped if you have got to shut the book (for things such as sleep, cooking, doing other things). But you can take this book and open to almost any chapter and learn. On another note: I believe this would be a fantastic guide for younger readers also of course! It is very clear/clean writing, and as mentioned before, wonderful pictures to go along with the learning experience (and you simply will not beat the price - this really is something I feel very much should have been in schools as a textbook - their entire line should have been!). Awesome! I'm trying to figure out which book I want next lol! Highly recommend for all ages!