DID YOU KNOW?
Did you know that the United States has declared bankruptcy five times since it was founded? This is despite the country being one of the most influential and powerful ones in the world. On one instance, it could not pay its foreign debts, and four times could it not pay its internal debts. These events had resulted from financial crises in the banking sector. The first crisis was in 1790, and the last of which was in 1933. In the past two centuries, a total of 83 countries have experienced bankruptcy.
Other well-known first-world countries have also experienced bankruptcy. For instance, Germany went bankrupt eight times in the last 215 years. This is despite the country being the world's fourth and the EU's biggest economy. Another country that experienced this is the U.K., which went bankrupt four times in total. Better monetary policies from the government have made these countries perform better financially. For people who want to manage their finances better, there are financial planning softwares for individuals that can help. One needs to just find the best personal finance software out there that fits their personality and needs. Technology has developed apps and softwares to make sure that financial management comes in handy for everyone.