Financial IQ

Paper money: how was it born?

Paper money was an invention of the Song Dynasty in China in the 11th century, nearly 20 centuries after the first metal coins were used. In the 11th century BC, the Chinese began to use coins. Archaeologists found copper coins in a Tang dynasty tomb. Coins were cast from copper, silver, gold and other metals with a square hole in the middle to put coins together by a string. Before paper money, coins were used…

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Financial IQ

Is there a hidden cost behind everything?

There are many transactions every day. You check the bills for your things, the prices, but do you notice the extra charges? This is particularly common in hotels, restaurants and other dining/accommodation places. If you check the bills closely, you will see that there is actually some additional fees. This often is room service, gym, resort, airport fees… Others are really surprising, including shampoo fees, minibar, which you didn’t eat anything, to a safe, which you…

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Financial IQ

What is savings?

Savings is the amount of money you have in storage which can be used to purchase new things for yourself. People save every day, from coupons to choosing cheaper clothes, to using less water and cutting down electricity usage, we save money, supplies, clothing and general items. This benefits you as you have more resources to use for other purposes such as getting toys in the future.   How do people save? For a small…

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Financial IQ

IQ Option: an overview

IQ Option (click here) is a brinary/60 second trading website that gives the user a 10000$ demo account with real conditions and rates as a real account, where you would have to deposit/invest 10 dollars in order to use. The minimum amount you can put in a position is 1$, that means you can trade for 10 times before you lose all your money. The first thing we need to paid attention to is the…

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