Your Money Supply At Work

By Larry Teren

Did you ever wonder what the business and financial reporter on the radio means when he says M1 and M2 when referring to our money supply? M1 includes all physical money such as coins and currency as well as demand deposits such as checking and negotiable order of withdrawal (NOW) accounts. M1, therefore, refers to the amount of money that can quickly be converted to cash.
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Debit Cards – Pay As You Go

The expression “pay as you go” can mean a lot of things. It can refer to getting laid to rest in a cemetery only after a surviving family member coughs up enough dough for the burial plot and funeral services. It can also allude to the former practice, at least where I live, of the local airport having pay toilets. They had to cut it out because people made a stink (sorry).

For me it means using a debit card more often than using a credit card. When I tell friends that I do so they usually roll their eyes and indicate that only poor people or those with bad credit use debit cards. I reply that it is just the opposite. I have the best of credit. Why? Because I only use a credit card for items that have big ticket prices or where I need an element of protection. By that I mean when I buy something that I am concerned it may not work properly or it may not get shipped so quickly, I use a credit card as leverage. How so? I can always tell the credit card company that I am challenging the sale. No merchant wants to get into such a hassle.
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