5 Surprising Things to Learn About Money
Money makes the world go round. There has never been a truer statement. Unfortunately, all we really know about it, is how to make and spend it (except for those few that also know how to save and manage it).
But today we’re going to tell you some surprising things about money and its origins that you most likely did not hear before.
9.7 tons of Ink is Used to Print Money
Did you know that a massive 9.7 tons of ink are used in printing money every day? The Bureau of Printing and Engraving is the organization responsible for this. Since printing money is not your everyday job, there are only two locations that print currency nationwide. Together, they consume 9.7 tons of ink a day.
One location is based in Washington DC while the other is in Fort Worth, Texas. The one in Fort Worth produces over half of all US currency, and this currency has the letters “FW” engraved in a small font on each note. If it doesn’t, it was printed in Washington, DC.
The Lifespan of a Currency Note
Can you imagine the number of hands that money goes through in its lifetime? Any ordinary piece of paper would be ripped and soiled by that much handling. But a currency bill would have to be folded over 8000 times for it to start tearing.
A $1 bill lasts about 6 years on average! Once its condition becomes unfit for further use, it is removed from circulation by the Federal Reserve.
Physical vs Digital Currency
Nowadays, we pay more for things via credit cards and online bank transfers, a form of digital currency. Did you know that only about 8% of all the money in the world is actually physical money? The rest is all digital. (Judging by the increasing reliance on digital money, in a few years, maybe physical currency will go extinct!)
More Monopoly Money Than Real Money
Next time you’re taking that monopoly game lightly, remember that $30 billions of Monopoly money is printed in the US annually, compared to only $972 million of real money!
The Disparity in Money
Although the US is the richest country in the world in terms of total wealth, it is still surprising to learn that millions of people in the US survive on just $2 a day!
What’s more, the top 1% of the richest people in the world own 50% of the world’s total wealth! Can you gauge the disparity that exists in terms of money!
About 15% of households have no money saved at all, while 25% have no money saved for emergency situations. Financial emergencies often require lump cash at very short notice. People who don’t have enough savings find themselves in a fix.
Missouri Title Loans for Financial Emergencies
Missouri title loans are a fast cash solution for financial emergencies. They provide car title loans for financial emergencies like medical needs, urgent home or auto repairs, or important travel.
A car title loan can help you cover urgent financial expenses by taking out a loan against your car (or any other vehicle). The value of the loan is determined by the value of your car with amounts of up to $15,000 available to those that qualify.
Requirements for A Missouri Title Loan
To be eligible for a title loan in Missouri, you must be 18 years or over. You must also own a vehicle and hold a lien-free title to that vehicle (lien-free means that there must not be any pending payments or debts against your car).
You will also need a government-issued identification document like a driver’s license. The lender will ask for an inspection of your vehicle (along with the title), in order to gauge what maximum loan amount you qualify for.
Advantages of Missouri Title Loans
Get Instant Cash
At Missouri Title Loans Inc, you can get your cash in as little as 30 minutes! It only takes a few minutes for your vehicle and documents to be appraised. Cash is instantly dispersed from the store.
All Types of Credit Welcome
Yes! Believe it or not, we consider all types of credit: good, bad, or non-existent. Our top priority is helping you get the money you need with the least hassle.
Keep Your Car in Missouri
After you take out a loan, you get to keep and drive your car as usual while you make payments.
Easy Application Process for Title Loans Near Me
Our application process is extremely simple. All you need to do is:
- Go to MissouriTitleLoansInc.com and select one of our stores according to the location which is nearest to you.
- Fill out the application form.
- You will be contacted by a store representative over a phone call and explained the procedure and requirements.
- Drive to the store location in your vehicle along with the needed documents.
- Wait for a few minutes as your vehicle and documents are inspected.
- Receive your cash and drive back in your car!
Wasn’t that simple?
We know how stressful financial crises can be. This is why we are committed to making this process as easy for you as possible!
Knowing these things about money may help you to understand your finances and currency a little better. Now it is time to master the knowledge you need to save money. If you have a hard time with that, remember you have short-term loan options with a Missouri online title loan.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.