A million dollars. A billion dollars. The latter is 1,000 times more than the former. Just add a few zeros, right? Tom Scott used a road trip to visualize the actual difference in scale. Scott starts by setting the baseline of a million dollars with a short, one-minute walk. Stack one million dollar bills after the other and it’s about the length of a football field. Stack one billion, and...
The Paycheck Protection Program was established to provide aid to small businesses. It’s a $669-billion loan program. The data for 4.8 million loans, amounting to $521 billion so far, is now available from the Small Business Administration. For loans less than $150,000, you can download data for all states individually. Data for loans that were more than $150,000 can be downloaded as a single file. Look up business name, type,...
A couple of weeks ago — or maybe it was a couple of years ago, I’m not sure — the administration announced it would withdraw funding from the World Health Organization. Here's what that does to the overall picture. Read More
This week, a few projects went up on the internets about money and spending, each with different goals and approaches. In this issue of The Process, we look at each more closely. Read More
Neal Agarwal used a money printing metaphor to depict differences in various wages. The higher the wage, the faster the money prints. Keep scrolling and you also see big company revenues, finished with a frantic U.S. deficit increase. So good. [Thanks, Neal] Tags: animation, money, Neal Agarwal
We hear about billionaires spending millions of dollars on ads, acquisitions, etc. It seems like a ridiculous amount of money, but that’s partially because us common folk think of the millions of dollars in the context of our own net worth. When Jeff Bezos spends a few multiples of what we will never make in a lifetime, it seems like a lot. For The Washington Post, Michelle Ye Hee Lee...
There are a lot of variables to consider, but for people of middle income, here's a suggestion, based on when you start saving and when you want to retire. Read More
People tend to have more money saved up over time, but range and variation also grow, and often it’s not enough. Read More
It was reported that 1 in 6 millennials have at least $100,000 saved. Is this right? It seems high. I looked at the data to find out and then at all of the age groups. Read More