I think it goes without saying that if you have to work for a living and live from paycheck to paycheck, at some point in your life you would have dreamed of being wealthy and not having to work as hard as you have most of your life. But if you could turn that dream into reality, would you take the inspired action required to achieve it? Most people complain that most of those who are rich were born with silver spoons in their mouths and got their riches the easy way.
How to Obtain Real Wealth, Financially Speaking
By [http://ezinearticles.com/?expert=Jamie_B._McIntyre]Jamie B. McIntyre
I think it goes without saying that if you have to work for a living and live from paycheck to paycheck, at some point in your life you would have dreamed of being wealthy and not having to work as hard as you have most of your life. But if you could turn that dream into reality, would you take the inspired action required to achieve it? Most people complain that most of those who are rich were born with silver spoons in their mouths and got their riches the easy way. Most people simply dream of becoming rich, but fail to do anything to turn their dreams into reality. Would you like to stop dreaming and know how to obtain real wealth? If so, read on.
The first thing you need to do is be realistic. Accept facts as they are. Becoming wealthy will not be easy and takes real effort, so if you can't come to grips with the effort that is required of you then you'll never get past the first step. If you can set your mind to the challenge then completing it becomes a definite possibility. Once you focus and determine how best to use your skills and talent in obtaining your goal, you will have taken the first step. If others poorer than you have been able to make the effort and come out on top as billionaires, what's stopping you from achieving the same feat?
The second thing you need to take note is that your goal in becoming wealthy must not be centered on selfish means. Take John D Rockefeller for example. He started the Standard Oil company in the early twentieth century and became rich. But he used his wealth to benefit others, to feed the hungry and the poor, and his various charity organizations have raised millions of dollars in the global fight against hunger and disease. While you don't have to follow his example to the tee, consider giving a fair portion of your wealth to reputable charity organizations. Consider it as a karmic investment on your journey of obtaining real financial wealth. What goes around comes around. Always remember: fortune favors the bold, but karma favors the unselfish.
The other thing you need to keep in mind is the phrase "clothes make the man". Now while many may disagree with the statement, it can never be truer. You need to convince yourself that you're made for wealth, that no one can "rock it" like you do, because having the psychological confidence will motivate you into achieving true wealth. The road to obtaining real wealth can be long and arduous, so you need to keep up the motivation in realizing your ultimate goal. Change your mindset; stop thinking poor and start thinking like a rich person. Ever heard of the phrase "I think, therefore I am"? Make that your mantra, instill it as part of your discipline, and make it part of your belief system. Once you believe in something, you can achieve practically anything you can dream of.
Lastly, in order to keep up your motivation towards that ultimate goal, you need to keep the naysayers from your life. This is the most important step of all, because people will tell you that you can't achieve your lofty dreams; that the journey is too hard and it's easier to just give up and be happy with what you have, no matter how little you have. They will tear you down because they themselves don't have the motivation, the conviction to reach for their own dreams. They will want you to be like them; miserable, slogging away, slave to their jobs. Tell them to worry about themselves and leave you alone. You determine your own success, so don't let others tell you that you can't do it. Remember the previous point; if you believe in it, you can achieve it.
To obtain real wealth you need to be strong in your convictions. You need discipline and self-motivation, because it won't be easy. Once you have the necessary characteristics to succeed, work hard and work smart. There are countless of opportunities out there that you can take advantage of; from Forex trading to affiliate marketing to real estate investments, you can make your wealth from just about anything. But once you've tasted success, be prudent with your newfound wealth, or else you'll end up back at square one. [http://www.worldwidewealthsolutions.com/]Click Here to discover the Millionaire SECRETS to financial freedom! Jamie McIntyre is a Life Coach, Philanthropist and self-made Millionaire providing life-changing advice on [http://www.worldwidewealthsolutions.com/]How To Make Money Easily to build your wealth.
Article Source: http://EzineArticles.com/?expert=Jamie_B._McIntyre http://EzineArticles.com/?How-to-Obtain-Real-Wealth,-Financially-Speaking&id=1557347
Sunday, October 12, 2008
Build Up Your Daily Wealth to Achieve Financial Freedom
Are you weighed down by debt and mortgage and overdue payments? Are you going through your own personal financial crisis? Are you looking to achieve financial freedom? You're not alone. Many of us, especially the working class, are seeking that road to financial freedom so we won't have to worry about our financial needs for the future.
Build Up Your Daily Wealth to Achieve Financial Freedom
By [http://ezinearticles.com/?expert=Jamie_B._McIntyre]Jamie B. McIntyre
Are you weighed down by debt and mortgage and overdue payments? Are you going through your own personal financial crisis? Are you looking to achieve financial freedom? You're not alone. Many of us, especially the working class, are seeking that road to financial freedom so we won't have to worry about our financial needs for the future. There are just so many things to consider - emergency funds, children's college funds, retirement funds - that sometimes you can't help but dread the thought of that next due payment. The truth is, anyone can achieve financial freedom; all it takes is careful financial planning. Analyzing and controlling your daily expenses can help you build up your daily wealth and help you get on the road to financial freedom. This article will show you how you can get started.
First of all, if you're a user of credit cards, pay off your credit card debt. Sure, credit cards might seem handy since you don't have to carry a lot of cash unnecessarily, but the extraordinarily high interest rates on credit cards can lead to credit card debts that can cancel out even the greatest investor's gains. The biggest problem with credit cards is that it encourages impulse buying, and most people end up buying things that they don't necessarily need. A lot of people lose track of their expenses and end up accumulating more payables than they can afford to pay off. Buying on credit will not help in your efforts to achieving long term financial freedom, because realistically speaking, as long as you have a credit card, you're in continuous debt.
After you've paid off your credit card debt, cancel your credit cards and stop using them. If you lack the discipline to resist the "grab-and-swipe" temptation, it's the best thing for you. If you don't have it, you won't be tempted. But if you absolutely must have the convenience of "cashless" payment, consider a debit card instead. Debit cards should instill in you the discipline of prudent spending, because with debit cards you're spending what you have in your bank account rather than spending on credit. For most people I know, the fear of seeing a shrinking bank account balance with every expenditure is enough to stave off any other temptation to buy on impulse. They think twice about swiping for that new gold bracelet they might like but don't really need. Debit cards can help you control your finances if used prudently.
Prudent spending can help you save quite a bit of money in the long run. Another savings method you should consider is taking some percentage of your salary and depositing the sum into your savings account. Most people who do this typically take 30% from their salaries, and consider the sum in such accounts as untouchable or "for emergencies only". Again it takes quite a bit of discipline to ensure that you won't be tempted to spend that particular sum, especially after you've spent the remaining 70% of your paycheck. If you use a debit card, it's wise to set up two separate accounts, one for your debit card, and one for your "fixed" savings.
Building up your daily wealth is really as simple as being prudent with your spending. The keyword here is save, save, save. Do not be a slave to debt. Keep track of your finances by using personal financial planning software to key in your cash inflow and outflow so you're aware of your financial position as you go along. If you're not comfortable with the numbers, make adjustments; see which expenses you can reduce or do away with completely, etc. Control your buying impulse. Instill in yourself the discipline to buy what you really need, not what you want or desire. I'm sure that if you can do all of this, you will be well on your way to financial freedom. [http://www.worldwidewealthsolutions.com/]Click Here to discover the Millionaire SECRETS to financial freedom! Jamie McIntyre is a Life Coach, Philanthropist and self-made Millionaire providing life-changing advice on [http://www.worldwidewealthsolutions.com/]How To Make Money Easily to build your wealth.
Article Source: http://EzineArticles.com/?expert=Jamie_B._McIntyre http://EzineArticles.com/?Build-Up-Your-Daily-Wealth-to-Achieve-Financial-Freedom&id=1557342
Build Up Your Daily Wealth to Achieve Financial Freedom
By [http://ezinearticles.com/?expert=Jamie_B._McIntyre]Jamie B. McIntyre
Are you weighed down by debt and mortgage and overdue payments? Are you going through your own personal financial crisis? Are you looking to achieve financial freedom? You're not alone. Many of us, especially the working class, are seeking that road to financial freedom so we won't have to worry about our financial needs for the future. There are just so many things to consider - emergency funds, children's college funds, retirement funds - that sometimes you can't help but dread the thought of that next due payment. The truth is, anyone can achieve financial freedom; all it takes is careful financial planning. Analyzing and controlling your daily expenses can help you build up your daily wealth and help you get on the road to financial freedom. This article will show you how you can get started.
First of all, if you're a user of credit cards, pay off your credit card debt. Sure, credit cards might seem handy since you don't have to carry a lot of cash unnecessarily, but the extraordinarily high interest rates on credit cards can lead to credit card debts that can cancel out even the greatest investor's gains. The biggest problem with credit cards is that it encourages impulse buying, and most people end up buying things that they don't necessarily need. A lot of people lose track of their expenses and end up accumulating more payables than they can afford to pay off. Buying on credit will not help in your efforts to achieving long term financial freedom, because realistically speaking, as long as you have a credit card, you're in continuous debt.
After you've paid off your credit card debt, cancel your credit cards and stop using them. If you lack the discipline to resist the "grab-and-swipe" temptation, it's the best thing for you. If you don't have it, you won't be tempted. But if you absolutely must have the convenience of "cashless" payment, consider a debit card instead. Debit cards should instill in you the discipline of prudent spending, because with debit cards you're spending what you have in your bank account rather than spending on credit. For most people I know, the fear of seeing a shrinking bank account balance with every expenditure is enough to stave off any other temptation to buy on impulse. They think twice about swiping for that new gold bracelet they might like but don't really need. Debit cards can help you control your finances if used prudently.
Prudent spending can help you save quite a bit of money in the long run. Another savings method you should consider is taking some percentage of your salary and depositing the sum into your savings account. Most people who do this typically take 30% from their salaries, and consider the sum in such accounts as untouchable or "for emergencies only". Again it takes quite a bit of discipline to ensure that you won't be tempted to spend that particular sum, especially after you've spent the remaining 70% of your paycheck. If you use a debit card, it's wise to set up two separate accounts, one for your debit card, and one for your "fixed" savings.
Building up your daily wealth is really as simple as being prudent with your spending. The keyword here is save, save, save. Do not be a slave to debt. Keep track of your finances by using personal financial planning software to key in your cash inflow and outflow so you're aware of your financial position as you go along. If you're not comfortable with the numbers, make adjustments; see which expenses you can reduce or do away with completely, etc. Control your buying impulse. Instill in yourself the discipline to buy what you really need, not what you want or desire. I'm sure that if you can do all of this, you will be well on your way to financial freedom. [http://www.worldwidewealthsolutions.com/]Click Here to discover the Millionaire SECRETS to financial freedom! Jamie McIntyre is a Life Coach, Philanthropist and self-made Millionaire providing life-changing advice on [http://www.worldwidewealthsolutions.com/]How To Make Money Easily to build your wealth.
Article Source: http://EzineArticles.com/?expert=Jamie_B._McIntyre http://EzineArticles.com/?Build-Up-Your-Daily-Wealth-to-Achieve-Financial-Freedom&id=1557342
Profitable ETF Trading Strategies - Appreciating Behavioral Finance
What does psychology tell us about market returns? Are we programmed by biology to fail in the stock market? How do professional traders deal with the limitations of human cognition?
Profitable ETF Trading Strategies - Appreciating Behavioral Finance
By [http://ezinearticles.com/?expert=Ken_Long]Ken Long
We know that people pride themselves on their rationality and analytical skills. This is very evident in traders who invest a lot of psychological energy into their systems and personal discipline. It is also very clear that psychology is extraordinarily evident in financial decisions. Time and again, psychological pressures will over-rule rational analysis and the herd will behave in predictable, reliable, sub-optimal ways when markets reach extreme conditions.
There is no purely rational explanation for this behavior unless you study human cognition and then recognize that human decision making is a blend of both emotional intelligence and rationality. Most evidence from the literature favors emotional intelligence as the dominant force, particularly in times of stress, when the brain is flooded with hormones that trigger the fight or flight behaviors which have been so successful in biological evolutionary terms for millions of years. The development of conscious rationality is a relatively recent phenomenon, and in moments of stress cannot compete with our unconscious and subconscious thought processes. No matter how much we may want to believe that we are rational creatures with pure free will, biology tells us otherwise.
The Nobel prize winning work of Kahneman and Tversky in behavioral finance is a direct look into the workings of the human mind in this respect. Their investigations have spawned a whole host of scholarly inquiry that reinforces these ideas of the importance of the often counter-productive role of normal instinct and snap decision-making in financial markets.
The habits and processes of mind that have proven to be so successful in the physical, biological world do not migrate effectively to financial markets where flights to safety at moments of extreme pain characterize price action at market bottoms. When all the people who can be driven from their positions and there is no one left to sell, then all the remaining market players are able to more or less calmly gather up great bargains.
It is a combination of art and science to know when these moments of extreme overreaction have occurred. The market is littered with the corpses of bottom-pickers who staked their capital on the confidence they had in their ability to rationally pick the bottom, unlike the other pilgrims who panicked at that price level. Mistaken confidence in our own ability to be rational accounts for these many false starts.
What can a trader do who wants to participate in the opportunity represented at or near market bottoms but doesn't want to repeat the mistakes of other would be bottom pickers and panicked sellers? It is a real challenge, and anyone who offers a fail-safe, high reliability should be looked at skeptically. They should be asked to explain how their method of selection and timing accounts for the demonstrated fallibility of rationality in moments of stress. Why is their method different than those of the failed traders who right up until the moment of catastrophe were supremely confident?
This is the challenge of Long Term Capital Management, whose Nobel prize winners were undone by their belief in the power of their own special brand of rationality and nearly brought down the world financial markets.
Can it be that success in the markets is NOT a function of pure rationality alone? That as long as markets are driven by emotional responses to moments of extraordinary stress that the emotional qualities of human psychology will produce statistically unlikely occurrences on a regular basis? I think so, and I will always operate on that basis until I see compelling evidence to the contrary.
It turns out that survival in the market begins with a heightened sense of danger that begins to account for the possibility of extreme adverse market moves well before the selling is fully manifested. Does this mean that there are times when you have to forego the apparently easy money that comes from following irrationally exuberant megatrends?
I believe so, in the same way that the wise second mouse must forego the easy cheese sitting out there in plain sight. The first mouse often gets the easy cheese until that swift moment of final total consciousness when he discovers that the easy cheese was not so easy after all. Unfortunately the first mouse doesn't get to reflect for very long on his new found knowledge.
I want to be the second mouse, and design systems and rule sets that operate on that basis and philosophy.
Examine the source and basis for your confidence in your own abilities or in the abilities of your trusted custodians. How does their approach account for the possibility of overconfidence?
Good hunting!
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
Article Source: http://EzineArticles.com/?expert=Ken_Long http://EzineArticles.com/?Profitable-ETF-Trading-Strategies---Appreciating-Behavioral-Finance&id=1557178
Profitable ETF Trading Strategies - Appreciating Behavioral Finance
By [http://ezinearticles.com/?expert=Ken_Long]Ken Long
We know that people pride themselves on their rationality and analytical skills. This is very evident in traders who invest a lot of psychological energy into their systems and personal discipline. It is also very clear that psychology is extraordinarily evident in financial decisions. Time and again, psychological pressures will over-rule rational analysis and the herd will behave in predictable, reliable, sub-optimal ways when markets reach extreme conditions.
There is no purely rational explanation for this behavior unless you study human cognition and then recognize that human decision making is a blend of both emotional intelligence and rationality. Most evidence from the literature favors emotional intelligence as the dominant force, particularly in times of stress, when the brain is flooded with hormones that trigger the fight or flight behaviors which have been so successful in biological evolutionary terms for millions of years. The development of conscious rationality is a relatively recent phenomenon, and in moments of stress cannot compete with our unconscious and subconscious thought processes. No matter how much we may want to believe that we are rational creatures with pure free will, biology tells us otherwise.
The Nobel prize winning work of Kahneman and Tversky in behavioral finance is a direct look into the workings of the human mind in this respect. Their investigations have spawned a whole host of scholarly inquiry that reinforces these ideas of the importance of the often counter-productive role of normal instinct and snap decision-making in financial markets.
The habits and processes of mind that have proven to be so successful in the physical, biological world do not migrate effectively to financial markets where flights to safety at moments of extreme pain characterize price action at market bottoms. When all the people who can be driven from their positions and there is no one left to sell, then all the remaining market players are able to more or less calmly gather up great bargains.
It is a combination of art and science to know when these moments of extreme overreaction have occurred. The market is littered with the corpses of bottom-pickers who staked their capital on the confidence they had in their ability to rationally pick the bottom, unlike the other pilgrims who panicked at that price level. Mistaken confidence in our own ability to be rational accounts for these many false starts.
What can a trader do who wants to participate in the opportunity represented at or near market bottoms but doesn't want to repeat the mistakes of other would be bottom pickers and panicked sellers? It is a real challenge, and anyone who offers a fail-safe, high reliability should be looked at skeptically. They should be asked to explain how their method of selection and timing accounts for the demonstrated fallibility of rationality in moments of stress. Why is their method different than those of the failed traders who right up until the moment of catastrophe were supremely confident?
This is the challenge of Long Term Capital Management, whose Nobel prize winners were undone by their belief in the power of their own special brand of rationality and nearly brought down the world financial markets.
Can it be that success in the markets is NOT a function of pure rationality alone? That as long as markets are driven by emotional responses to moments of extraordinary stress that the emotional qualities of human psychology will produce statistically unlikely occurrences on a regular basis? I think so, and I will always operate on that basis until I see compelling evidence to the contrary.
It turns out that survival in the market begins with a heightened sense of danger that begins to account for the possibility of extreme adverse market moves well before the selling is fully manifested. Does this mean that there are times when you have to forego the apparently easy money that comes from following irrationally exuberant megatrends?
I believe so, in the same way that the wise second mouse must forego the easy cheese sitting out there in plain sight. The first mouse often gets the easy cheese until that swift moment of final total consciousness when he discovers that the easy cheese was not so easy after all. Unfortunately the first mouse doesn't get to reflect for very long on his new found knowledge.
I want to be the second mouse, and design systems and rule sets that operate on that basis and philosophy.
Examine the source and basis for your confidence in your own abilities or in the abilities of your trusted custodians. How does their approach account for the possibility of overconfidence?
Good hunting!
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
Article Source: http://EzineArticles.com/?expert=Ken_Long http://EzineArticles.com/?Profitable-ETF-Trading-Strategies---Appreciating-Behavioral-Finance&id=1557178
Profitable ETF Trading Techniques - Market Classification
The very first thing I analyze when I am creating my daily trading plan is the current market classification. The reason? Because, depending on which scholar you read, the market itself contributes as much as 50% of the return of individual stock gains/losses.
Profitable ETF Trading Techniques - Market Classification
By [http://ezinearticles.com/?expert=Ken_Long]Ken Long
The very first thing I analyze when I am creating my daily trading plan is the current market classification.
The reason? Because, depending on which scholar you read, the market itself contributes as much as 50% of the return of individual stock gains/losses. It makes sense to me then that the most important single factor should be the first place to research.
If you only get one thing right, it should be the current market condition.
I look at market condition in 2 time dimensions: Long term and Intermediate term. The time periods I chose are specific to the way I trade and the typical time periods I look to hold individual positions. I believe that your time frame should affect how you look at the market. I believe one size fits all strategies are not well suited for individual success. To that end, I consider long term to be the last 180 days and short term to be the last 10 days.
I look at long term market condition in 2 dimensions: Price level and Relative Volatility. Without going into the specific techniques I use to classify individual states, suffice it to say that I have 3 price categories: Bull-Sideways-Bear, and 3 volatility conditions: Quiet-Normal-Volatile. This creates a 3×3 matrix, with 9 possible market condition states. (See table below)
Looking back at the last 13 years of S&P 500 price data (that's as long as the S&P ETF: SPY, has price data available), I analyzed the statistics of the returns of the market for the next day based on the current market condition as defined, and concluded that there were distinct differences in the results for each of the 9 states. It turns out that there are only 4 of the 9 states where, on average the following days return is positive.
This is an extraordinarily important piece of information to know when looking at trading opportunities for the following day, especially if your trading instrument or "target" is strongly correlated to the US large cap market. The image below is an example of the market classification matrix in action. It shouldn't surprise you to see the market is currently (as of Oct 4, 2008) in Bear Volatile: the worst condition for expected returns.
What's important to note is that my analysis model classified the market as Bear Volatile on Sept 9, and has remained there ever since. The market is down well over 10% in that time period. It's down over 20% since entering Bear Quiet mode on June 03, 2008. Being alert to market condition can prevent those kinds of losses from occurring and add tremendous value and insight to any long term investment program as well as inform short term trading strategies.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
Article Source: http://EzineArticles.com/?expert=Ken_Long http://EzineArticles.com/?Profitable-ETF-Trading-Techniques---Market-Classification&id=1555815
Profitable ETF Trading Techniques - Market Classification
By [http://ezinearticles.com/?expert=Ken_Long]Ken Long
The very first thing I analyze when I am creating my daily trading plan is the current market classification.
The reason? Because, depending on which scholar you read, the market itself contributes as much as 50% of the return of individual stock gains/losses. It makes sense to me then that the most important single factor should be the first place to research.
If you only get one thing right, it should be the current market condition.
I look at market condition in 2 time dimensions: Long term and Intermediate term. The time periods I chose are specific to the way I trade and the typical time periods I look to hold individual positions. I believe that your time frame should affect how you look at the market. I believe one size fits all strategies are not well suited for individual success. To that end, I consider long term to be the last 180 days and short term to be the last 10 days.
I look at long term market condition in 2 dimensions: Price level and Relative Volatility. Without going into the specific techniques I use to classify individual states, suffice it to say that I have 3 price categories: Bull-Sideways-Bear, and 3 volatility conditions: Quiet-Normal-Volatile. This creates a 3×3 matrix, with 9 possible market condition states. (See table below)
Looking back at the last 13 years of S&P 500 price data (that's as long as the S&P ETF: SPY, has price data available), I analyzed the statistics of the returns of the market for the next day based on the current market condition as defined, and concluded that there were distinct differences in the results for each of the 9 states. It turns out that there are only 4 of the 9 states where, on average the following days return is positive.
This is an extraordinarily important piece of information to know when looking at trading opportunities for the following day, especially if your trading instrument or "target" is strongly correlated to the US large cap market. The image below is an example of the market classification matrix in action. It shouldn't surprise you to see the market is currently (as of Oct 4, 2008) in Bear Volatile: the worst condition for expected returns.
What's important to note is that my analysis model classified the market as Bear Volatile on Sept 9, and has remained there ever since. The market is down well over 10% in that time period. It's down over 20% since entering Bear Quiet mode on June 03, 2008. Being alert to market condition can prevent those kinds of losses from occurring and add tremendous value and insight to any long term investment program as well as inform short term trading strategies.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
Article Source: http://EzineArticles.com/?expert=Ken_Long http://EzineArticles.com/?Profitable-ETF-Trading-Techniques---Market-Classification&id=1555815
Double Your Money in a 2 Minute Investment
Wealth creation is quite a simple thing. After all, what is more simple than the concept of finding ways to double our money. It is perplexing how complicated this idea has become as millions of pages have been written about wealth creation and the topic of generating returns, when after all is said and done, there is only one question, the answer of which shall make you rich.
Double Your Money in a 2 Minute Investment
By [http://ezinearticles.com/?expert=Terry_Hart]Terry Hart
Wealth creation is quite a simple thing. After all, what is more simple than the concept of finding ways to double our money. It is perplexing how complicated this idea has become as millions of pages have been written about wealth creation and the topic of generating returns, when after all is said and done, there is only one question, the answer of which shall make you rich.
Finding ways to double your money is the goal of building wealth. Starting at $100 dollars you would have over $1 million dollars after 14 such doubling events, now that's compounding at work. An investment need not take 10 years to mature and nor do you need to wait until you start seeing gray hairs before you can sell that investment off for a profit.
Taking profits more often can actually be good for your financial statement. Keeping money moving and circulating has an empowering affect. When you park your entire capital account on a few blue chip shares and buckle in for a good 20 year wait, what happens is not very much except waiting.
Having the power to always be re-investing and taking profits in all manner of alternative and creative investment ideas is the "well spring" of determined wealth production. A 2 minute investment is just as good as a 10 year investment as long as there is a return. Also there is a lot to be said for active "hands on" investing. Too many investors see it as a passive activity, but the true Topguns see their investing as a daily business that requires tending to on a regular basis.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read about Martin Thomas in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program. [http://www.easycorporatemoney.com/]http://www.easycorporatemoney.com
Article Source: http://EzineArticles.com/?expert=Terry_Hart http://EzineArticles.com/?Double-Your-Money-in-a-2-Minute-Investment&id=1555658
Double Your Money in a 2 Minute Investment
By [http://ezinearticles.com/?expert=Terry_Hart]Terry Hart
Wealth creation is quite a simple thing. After all, what is more simple than the concept of finding ways to double our money. It is perplexing how complicated this idea has become as millions of pages have been written about wealth creation and the topic of generating returns, when after all is said and done, there is only one question, the answer of which shall make you rich.
Finding ways to double your money is the goal of building wealth. Starting at $100 dollars you would have over $1 million dollars after 14 such doubling events, now that's compounding at work. An investment need not take 10 years to mature and nor do you need to wait until you start seeing gray hairs before you can sell that investment off for a profit.
Taking profits more often can actually be good for your financial statement. Keeping money moving and circulating has an empowering affect. When you park your entire capital account on a few blue chip shares and buckle in for a good 20 year wait, what happens is not very much except waiting.
Having the power to always be re-investing and taking profits in all manner of alternative and creative investment ideas is the "well spring" of determined wealth production. A 2 minute investment is just as good as a 10 year investment as long as there is a return. Also there is a lot to be said for active "hands on" investing. Too many investors see it as a passive activity, but the true Topguns see their investing as a daily business that requires tending to on a regular basis.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read about Martin Thomas in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program. [http://www.easycorporatemoney.com/]http://www.easycorporatemoney.com
Article Source: http://EzineArticles.com/?expert=Terry_Hart http://EzineArticles.com/?Double-Your-Money-in-a-2-Minute-Investment&id=1555658
Rich Women - 10 Reasons You Need to Join the Club
Women need to be rich. They live longer but they earn less, invest less and know less than men about money. There is gender inequality in global wealth. With the economy slowing down, it is more important than ever to become wealthy. Here are 10 reasons you need to become a rich woman.
Rich Women - 10 Reasons You Need to Join the Club
By [http://ezinearticles.com/?expert=Joanna_Penn]Joanna Penn
There is gender inequality in global wealth. Men earn more money. Men invest more money. Men save more money. Men run more companies. Yet women live longer and 50% of marriages end in divorce, so women will be alone at some point in their lives. 3 out of 4 elderly women live in poverty, but most weren't poor when their men were alive. With the economy slowing down, it is more important than ever to become wealthy. Here are 10 reasons you need to become a rich woman.
1. Independence. Learning to create and control money will release you from dependence on any one person, or the government.
2. Self-esteem. If you learn how to be financially independent, you will grow in self-confidence and this will enhance your relationships at all levels. You can look after yourself and your family financially.
3. Protection of you and yours. In these times of economic doubt, protection of your home and your assets is critical. Creating wealth and understanding money will help protect what you have already.
4. Providing for your family. New ways of creating multiple streams of income can help you enhance life for all the family.
5. Live the life of your dreams. With the wealth you create, you can have that fantastic house, amazing new car and travel when you like. You can send the kids to the best college, and have that new wardrobe. You can live the life of your dreams.
6. Equality. Why should men make all the money? Women are good investors and money managers, as well as great entrepreneurs. We just have some catching up to do.
7. Giving. When you have money, you can give more away. Bill Gates and Warren Buffett gave more to charity than whole countries can earn. The richer you are, the more you can give.
8. Freedom and choice. If you are wealthy, you have the choice over what you do with your time, and your life. You have the freedom to work at what you want, to travel when you want, to spend what you want. You have choices that you do not have now.
9. For your future. There won't be a government pension for most people, or it will be so little it will mean life on the poverty line. If you want to have a future worth looking forward to, you need to ensure you are financially secure.
10. Just to prove you can do it! Maybe you have always wanted to be rich, you just didn't know how to do it. Challenge yourself. Find out how and take action!
Joanna Penn is an author, speaker and consultant.
Get your Free "7 Secrets of Millionaires" audio and report at http://www.GirlsCreateWealth.com
Article Source: http://EzineArticles.com/?expert=Joanna_Penn http://EzineArticles.com/?Rich-Women---10-Reasons-You-Need-to-Join-the-Club&id=1558418
Rich Women - 10 Reasons You Need to Join the Club
By [http://ezinearticles.com/?expert=Joanna_Penn]Joanna Penn
There is gender inequality in global wealth. Men earn more money. Men invest more money. Men save more money. Men run more companies. Yet women live longer and 50% of marriages end in divorce, so women will be alone at some point in their lives. 3 out of 4 elderly women live in poverty, but most weren't poor when their men were alive. With the economy slowing down, it is more important than ever to become wealthy. Here are 10 reasons you need to become a rich woman.
1. Independence. Learning to create and control money will release you from dependence on any one person, or the government.
2. Self-esteem. If you learn how to be financially independent, you will grow in self-confidence and this will enhance your relationships at all levels. You can look after yourself and your family financially.
3. Protection of you and yours. In these times of economic doubt, protection of your home and your assets is critical. Creating wealth and understanding money will help protect what you have already.
4. Providing for your family. New ways of creating multiple streams of income can help you enhance life for all the family.
5. Live the life of your dreams. With the wealth you create, you can have that fantastic house, amazing new car and travel when you like. You can send the kids to the best college, and have that new wardrobe. You can live the life of your dreams.
6. Equality. Why should men make all the money? Women are good investors and money managers, as well as great entrepreneurs. We just have some catching up to do.
7. Giving. When you have money, you can give more away. Bill Gates and Warren Buffett gave more to charity than whole countries can earn. The richer you are, the more you can give.
8. Freedom and choice. If you are wealthy, you have the choice over what you do with your time, and your life. You have the freedom to work at what you want, to travel when you want, to spend what you want. You have choices that you do not have now.
9. For your future. There won't be a government pension for most people, or it will be so little it will mean life on the poverty line. If you want to have a future worth looking forward to, you need to ensure you are financially secure.
10. Just to prove you can do it! Maybe you have always wanted to be rich, you just didn't know how to do it. Challenge yourself. Find out how and take action!
Joanna Penn is an author, speaker and consultant.
Get your Free "7 Secrets of Millionaires" audio and report at http://www.GirlsCreateWealth.com
Article Source: http://EzineArticles.com/?expert=Joanna_Penn http://EzineArticles.com/?Rich-Women---10-Reasons-You-Need-to-Join-the-Club&id=1558418
When Will the Dow Jones Start to Recover From These Four Year Lows?
The Dow Jones fell to its lowest value in four years this afternoon as the threat of a global slowdown and a potential recession weighed on investor confidence. Many people have become quite shocked about the severity of the recent falls and are starting to wonder just when the markets will recover.
When Will the Dow Jones Start to Recover From These Four Year Lows?
By [http://ezinearticles.com/?expert=Steve_Hill]Steve Hill
The Dow Jones fell to its lowest value in four years this afternoon as the threat of a global slowdown and a potential recession weighed on investor confidence. Many people have become quite shocked about the severity of the recent falls and are starting to wonder just when the markets will recover.
So just how much lower can the Dow Jones go? This is an impossible to question to answer, especially for a novice investor such as myself. I personally believe that the Dow Jones will fall to as low as 9000 before starting a recovery, but this is just a guess of course.
Some big hitters are just waiting to make a move. These speculative investors like to buy when the markets are very low and we are surely close to where that mark is today.
I certainly would not be putting any lump sum investments into this current volatile and falling market. Today alone the Dow Jones has fallen over seven percent and to put in a lump sum seems just too risky to me. I understand all of the generalisations that people such as financial advisers make, statements like this lump sum investment should be seen as a medium to long-term investment is all well and good however when it falls fifteen percent in a month people start to worry.
I prefer to pay a monthly premium into my stock market based investments. This enables me to take advantage of what is called pound cost averaging. This is where the monthly premium purchases additional units/shares when the stock markets fall which aids the investment when the markets recover.
I am not becoming too worried at the moment and just hope that the recovery can come fairly quickly.
Steve Hill is a webmaster from Birmingham, he has interests in a number of websites including: [http://www.stammering-stuttering.co.uk]stuttering therapies [http://www.adaptatech.co.uk]DVD authoring
Article Source: http://EzineArticles.com/?expert=Steve_Hill http://EzineArticles.com/?When-Will-the-Dow-Jones-Start-to-Recover-From-These-Four-Year-Lows?&id=1559771
When Will the Dow Jones Start to Recover From These Four Year Lows?
By [http://ezinearticles.com/?expert=Steve_Hill]Steve Hill
The Dow Jones fell to its lowest value in four years this afternoon as the threat of a global slowdown and a potential recession weighed on investor confidence. Many people have become quite shocked about the severity of the recent falls and are starting to wonder just when the markets will recover.
So just how much lower can the Dow Jones go? This is an impossible to question to answer, especially for a novice investor such as myself. I personally believe that the Dow Jones will fall to as low as 9000 before starting a recovery, but this is just a guess of course.
Some big hitters are just waiting to make a move. These speculative investors like to buy when the markets are very low and we are surely close to where that mark is today.
I certainly would not be putting any lump sum investments into this current volatile and falling market. Today alone the Dow Jones has fallen over seven percent and to put in a lump sum seems just too risky to me. I understand all of the generalisations that people such as financial advisers make, statements like this lump sum investment should be seen as a medium to long-term investment is all well and good however when it falls fifteen percent in a month people start to worry.
I prefer to pay a monthly premium into my stock market based investments. This enables me to take advantage of what is called pound cost averaging. This is where the monthly premium purchases additional units/shares when the stock markets fall which aids the investment when the markets recover.
I am not becoming too worried at the moment and just hope that the recovery can come fairly quickly.
Steve Hill is a webmaster from Birmingham, he has interests in a number of websites including: [http://www.stammering-stuttering.co.uk]stuttering therapies [http://www.adaptatech.co.uk]DVD authoring
Article Source: http://EzineArticles.com/?expert=Steve_Hill http://EzineArticles.com/?When-Will-the-Dow-Jones-Start-to-Recover-From-These-Four-Year-Lows?&id=1559771
Become Rich by Developing Wealthy Habits
If you look at the ultra wealthy, they have many characteristics in common. Learn to identify those traits and how to develop them yourself, and you'll be on the road to obtaining great wealth.
Become Rich by Developing Wealthy Habits
By [http://ezinearticles.com/?expert=Ryan_Taylor_II]Ryan Taylor II
If you look at the ultra wealthy, they have many characteristics in common. Learn to identify those traits and how to develop them yourself, and you'll be on the road to obtaining great wealth.
On of these characteristics is the ultimate drive to succeed. Self made millionaires have high expectations of themselves and hold themselves accountable to achieving those standards. Their burning desire to build wealth and have success in life is unstoppable. Develop the will to succeed at any cost, and nothing can get in your way from achieving your goal.
Those who have built their own wealth also tend to have an entrepreneurial mindset. They have a mind that thinks in terms of seeking out and accurately identifying money making opportunities, then they figure out creative ways to capitalize on those opportunities. Entrepreneurs and small business owners have a stomach for risk, but they know that the potential reward is far greater.
But with that risk often comes failure, and those who have built their own wealth are capable of managing failure. In fact, they almost invite it. That's because self-made millionaires know that their most valuable lessons have been experienced when they fell flat on their face. The difference, however, is that successful people realize those lessons and they try again. After all, each time they fail, they are that much closer to success.
The most important characteristic has nothing to do with managing money or building enormous businesses. It is simply the ability to be an average person and develop valuable relationships.
Wealthy, successful people will often tell you that they do not credit their success to their abilities. They tend to respond by saying it was someone else that did all the work for them. Chances are they are right. That's because successful people form relationships with people that have the resources to help them leverage their ability to achieve success.
Once you discover how to use leverage to achieve life success, your ability to achieve your ultimate goals will explode. Find out now by by watching the complete Secret to Life Success at http://www.mmhabits.com/secret-to-life-success
Article Source: http://EzineArticles.com/?expert=Ryan_Taylor_II http://EzineArticles.com/?Become-Rich-by-Developing-Wealthy-Habits&id=1560615
Become Rich by Developing Wealthy Habits
By [http://ezinearticles.com/?expert=Ryan_Taylor_II]Ryan Taylor II
If you look at the ultra wealthy, they have many characteristics in common. Learn to identify those traits and how to develop them yourself, and you'll be on the road to obtaining great wealth.
On of these characteristics is the ultimate drive to succeed. Self made millionaires have high expectations of themselves and hold themselves accountable to achieving those standards. Their burning desire to build wealth and have success in life is unstoppable. Develop the will to succeed at any cost, and nothing can get in your way from achieving your goal.
Those who have built their own wealth also tend to have an entrepreneurial mindset. They have a mind that thinks in terms of seeking out and accurately identifying money making opportunities, then they figure out creative ways to capitalize on those opportunities. Entrepreneurs and small business owners have a stomach for risk, but they know that the potential reward is far greater.
But with that risk often comes failure, and those who have built their own wealth are capable of managing failure. In fact, they almost invite it. That's because self-made millionaires know that their most valuable lessons have been experienced when they fell flat on their face. The difference, however, is that successful people realize those lessons and they try again. After all, each time they fail, they are that much closer to success.
The most important characteristic has nothing to do with managing money or building enormous businesses. It is simply the ability to be an average person and develop valuable relationships.
Wealthy, successful people will often tell you that they do not credit their success to their abilities. They tend to respond by saying it was someone else that did all the work for them. Chances are they are right. That's because successful people form relationships with people that have the resources to help them leverage their ability to achieve success.
Once you discover how to use leverage to achieve life success, your ability to achieve your ultimate goals will explode. Find out now by by watching the complete Secret to Life Success at http://www.mmhabits.com/secret-to-life-success
Article Source: http://EzineArticles.com/?expert=Ryan_Taylor_II http://EzineArticles.com/?Become-Rich-by-Developing-Wealthy-Habits&id=1560615
Surviving a Stock Market Crash - 5 Tips to Show You How
It is scary when you see most everything you own declining in value and with it, all your dreams of retirement, education or a home. You can and will survive this by following these 5 tips.
Surviving a Stock Market Crash - 5 Tips to Show You How
By [http://ezinearticles.com/?expert=Fern_Alix_LaRocca]Fern Alix LaRocca
It is scary when the money you were counting on for retirement, education, or your home is rapidly declining in value. Don't panic though. Here are some 5 tips to help you survive:
1. People are living longer:
Males that reach the age of 65 nowadays will have a 49% chance of living to 86. Women will have a 49% chance of living to age 89. With that in mind, it's obvious that you will still need the help of equities (stocks and stock mutual funds) to help you grow your portfolio and keep ahead of taxes and inflation.
Don't abandon these investments.
2. Rebalance where necessary.
Take a look at your portfolio winners. If you had targeted say 20% in international and it is now 30% of your portfolio. Sell enough to bring it back down to 20% and use that cash to invest in another sector that you don't own. Remember that you don't have a realized loss until you sell. Take just enough of a loss to offset the gain that you took above, and then you will pay no tax on the transaction.
3. Diversify.
Don't have any winners? Then you weren't diversified enough to begin with. You should have had enough in each asset class (large-cap, mid-cap, small-cap, international, etc.) and each style (growth, value, blend, balanced, etc.) to create an investment plan to reach the return you need with the risk you are comfortable with, and in the time period that you targeted. Believe it or not, there are some mutual funds that have managed to keep their returns higher than the more than 23% loss of the S&P500 Index this year. There are a lot of free resources such as morningstar.com that will give you the data you need to diversify and feel better about your holdings.
4. Make decisions now.
Act now. Don't look for bottoms. You don't ever know where the bottom is but you do know that stocks are steadily getting cheaper and there are some fantastic buys out there. You may not have control over the market but you do have control over what you buy and what you sell. Don't wait.
5. Get a guaranteed income for life.
Along with positions of cash, bonds, and equities, a fixed annuity should play a part in a portfolio of someone close to working part-time or retiring altogether. An annuity is an insurance contract that in return for a lump sum of money gives you a steady fixed stream of income that is guaranteed for your life or the life of you and your spouse. For people who want to spread out their risk, this is an excellent addition to a portfolio. The downside is that you don't get any inflation protection since the payments remain the same. The upside is that you get an income stream guaranteed by the insurer so you don't have to worry about managing the money. Of course, you need to make sure the insurer is financially strong enough to be able to pay you throughout the term of the contract.
People like Floyd Odlum made millions during the Great Depression, not by fleeing into cash and bonds but by buying into stocks as the market dropped. His motto during the crash was: "There's a better chance to make money now than ever before."
Don't lose this opportunity to arrange your portfolio to meet your future needs. Follow the five steps above, and you won't have to worry about what the stock market is doing ever again.
2008© Fern Alix-LaRocca CFP® All Rights Reserved
Interested in more tips to survive this [http://wholeheartedway.com/index.html]crisis? Get the [http://wholeheartedway.com/]Whole-Hearted-Way eNewsletter written by Fern Alix LaRocca, a fee-only Certified Financial Planner TM with over 24 years in the industry today.
Article Source: http://EzineArticles.com/?expert=Fern_Alix_LaRocca http://EzineArticles.com/?Surviving-a-Stock-Market-Crash---5-Tips-to-Show-You-How&id=1566884
Surviving a Stock Market Crash - 5 Tips to Show You How
By [http://ezinearticles.com/?expert=Fern_Alix_LaRocca]Fern Alix LaRocca
It is scary when the money you were counting on for retirement, education, or your home is rapidly declining in value. Don't panic though. Here are some 5 tips to help you survive:
1. People are living longer:
Males that reach the age of 65 nowadays will have a 49% chance of living to 86. Women will have a 49% chance of living to age 89. With that in mind, it's obvious that you will still need the help of equities (stocks and stock mutual funds) to help you grow your portfolio and keep ahead of taxes and inflation.
Don't abandon these investments.
2. Rebalance where necessary.
Take a look at your portfolio winners. If you had targeted say 20% in international and it is now 30% of your portfolio. Sell enough to bring it back down to 20% and use that cash to invest in another sector that you don't own. Remember that you don't have a realized loss until you sell. Take just enough of a loss to offset the gain that you took above, and then you will pay no tax on the transaction.
3. Diversify.
Don't have any winners? Then you weren't diversified enough to begin with. You should have had enough in each asset class (large-cap, mid-cap, small-cap, international, etc.) and each style (growth, value, blend, balanced, etc.) to create an investment plan to reach the return you need with the risk you are comfortable with, and in the time period that you targeted. Believe it or not, there are some mutual funds that have managed to keep their returns higher than the more than 23% loss of the S&P500 Index this year. There are a lot of free resources such as morningstar.com that will give you the data you need to diversify and feel better about your holdings.
4. Make decisions now.
Act now. Don't look for bottoms. You don't ever know where the bottom is but you do know that stocks are steadily getting cheaper and there are some fantastic buys out there. You may not have control over the market but you do have control over what you buy and what you sell. Don't wait.
5. Get a guaranteed income for life.
Along with positions of cash, bonds, and equities, a fixed annuity should play a part in a portfolio of someone close to working part-time or retiring altogether. An annuity is an insurance contract that in return for a lump sum of money gives you a steady fixed stream of income that is guaranteed for your life or the life of you and your spouse. For people who want to spread out their risk, this is an excellent addition to a portfolio. The downside is that you don't get any inflation protection since the payments remain the same. The upside is that you get an income stream guaranteed by the insurer so you don't have to worry about managing the money. Of course, you need to make sure the insurer is financially strong enough to be able to pay you throughout the term of the contract.
People like Floyd Odlum made millions during the Great Depression, not by fleeing into cash and bonds but by buying into stocks as the market dropped. His motto during the crash was: "There's a better chance to make money now than ever before."
Don't lose this opportunity to arrange your portfolio to meet your future needs. Follow the five steps above, and you won't have to worry about what the stock market is doing ever again.
2008© Fern Alix-LaRocca CFP® All Rights Reserved
Interested in more tips to survive this [http://wholeheartedway.com/index.html]crisis? Get the [http://wholeheartedway.com/]Whole-Hearted-Way eNewsletter written by Fern Alix LaRocca, a fee-only Certified Financial Planner TM with over 24 years in the industry today.
Article Source: http://EzineArticles.com/?expert=Fern_Alix_LaRocca http://EzineArticles.com/?Surviving-a-Stock-Market-Crash---5-Tips-to-Show-You-How&id=1566884
How Safe is Your Money? - Your Guide to Protection
My goodness what a rollercoaster it has been recently! It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised. It is in times like these that people quite naturally get very worried and want to make sure that they are protected. Let's look at cash deposit savings.
How Safe is Your Money? - Your Guide to Protection
By [http://ezinearticles.com/?expert=Ray_Prince]Ray Prince
My goodness what a rollercoaster it has been recently!
It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised.
It is in times like these that people quite naturally get very worried and want to make sure that they are protected.
Let's look at cash deposit savings.
What are the rules and what protection do you have?
Where should you put your money?
Are Offset Deposit Accounts in mortgages affected and what about Life Assurance Companies and other investments?
What are the rules on deposit accounts?
This area is covered by the Financial services Compensation Scheme (FSCS).
The basic cover for deposits is 100% of the first £50,000 (was £35,000 prior to 7th October 2008). This ceiling is per investor, per banking license holder. So a single joint deposit with a bank is covered for a maximum of £100,000#
However, some banking groups operate several different brands, but have only one banking license. The best example of this is HBOS, as they own Saga, AA, Birmingham Midshires, Intelligent Finance, Halifax and Bank of Scotland.
So any investor should limit their total deposits in these six institutions to £50,000.
Of course, this is further complicated by the proposed merger between Lloyds and HBOS, and it is unclear as yet how this will affect things.
Deposits in non-UK banks operating in the UK are generally covered up to £50,000, but not necessarily all through the FSCS. European Economic Area (EEA) banks can adopt a 'passport' approach, which means that the home country compensation scheme applies first with the FSCS providing a top up, if required.
However, two exceptions apply here.
They could choose to operate on the 'passport' basis only, leaving depositors with only the bank's home country compensation. The big name foreign players do not do this because of the bad publicity it would bring.
Also, the Irish Government increased its compensation scheme limit to €100,000 (about £79,500) on 20 September 2008. So banks like Anglo-Irish and Bank of Ireland offer UK investors a lot more protection than the FSCS. This affects the Post Office, as their accounts are operated by the Bank Of Ireland.
100% protection without any ceiling is available through National Savings & Investments and, for the time being, through Northern Rock.
Offset Mortgages
Many of our clients quite rightly use offset flexible loans as this can save them a lot of money over the years. However, what rules apply here?
There are two possibilities:
A rule called 'set-off' could come into play with the banks. This states that Insolvency Law rules that your net position is calculated - savings would be deducted from your debt.
But this law may not apply to Building Societies. The Building Societies Association have confirmed that the set-off rule would not automatically apply, although individual societies may have it written into their terms and conditions. Even then, this would depend on the administrators.
Life Assurance
For UK authorised life companies, it works like this - the FSCS covers 100% of the first £2,000 of value and 90% after this with no limit.
Offshore Life Companies
They rely on their home company scheme - if any exists. The Isle of Man's scheme is similar to the UK's, whilst Guernsey has no scheme, but insists on 90% of a life company's assets being held by an independent custodian.
UK Investment Bonds Invested in Cash Deposits
Neither the life company nor the investor can look for compensation from the FSCS if the deposit provider goes down, unless there is a
guarantee the investor will simply see the value of their bond fall.
On the other hand, if the life company fails, then the FSCS protection would apply. In such an instance the FSCS offers less protection than a direct deposit for sums of up to £38,667, but more cover for investments that are higher than this.
Investments
For FSA authorised investment business, the maximum compensation is 100% of the first £30,000 plus 90% of the next £20,000. This means a total of £48,000 in respect of investments worth £50,000 or more.
The important point to remember is that the FSCS comes into play when an institution fails, not when the investment itself fails.
However, if the failure of an investment leaves a bank or insurance company unable to meet any guarantees it has made, then protection rules do apply.
Rates
Don't forget to make sure you receive a competitive interest rate!
It is important to stress that whilst it is prudent to take all these factors into account, the interest rates you get on each account is crucial. These days you should be able to get in excess of 6% AER.
The Financial Tips Bottom Line
It is worth checking how you would be affected by these rules, and that you won't be affected if a bank fails.
ACTION POINT
For an overview and more detail on all the issues covered here, see - http://tinyurl.com/3ml6ar (note: the increase to £50,000 may not be covered here, depending on if the site has been updated).
Especially, guidance is given here on which brands are owned by who - spend a few minutes of your time to research these links. It could save you a lot of money!
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Just visit http://www.medicaldentalfs.com to get your free retirement planning guide.
Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Ray_Prince http://EzineArticles.com/?How-Safe-is-Your-Money?---Your-Guide-to-Protection&id=1571610
How Safe is Your Money? - Your Guide to Protection
By [http://ezinearticles.com/?expert=Ray_Prince]Ray Prince
My goodness what a rollercoaster it has been recently!
It seems that not a day goes by without more gloom. A bank goes bust or is rescued, an insurance company is swallowed up by another or is nationalised.
It is in times like these that people quite naturally get very worried and want to make sure that they are protected.
Let's look at cash deposit savings.
What are the rules and what protection do you have?
Where should you put your money?
Are Offset Deposit Accounts in mortgages affected and what about Life Assurance Companies and other investments?
What are the rules on deposit accounts?
This area is covered by the Financial services Compensation Scheme (FSCS).
The basic cover for deposits is 100% of the first £50,000 (was £35,000 prior to 7th October 2008). This ceiling is per investor, per banking license holder. So a single joint deposit with a bank is covered for a maximum of £100,000#
However, some banking groups operate several different brands, but have only one banking license. The best example of this is HBOS, as they own Saga, AA, Birmingham Midshires, Intelligent Finance, Halifax and Bank of Scotland.
So any investor should limit their total deposits in these six institutions to £50,000.
Of course, this is further complicated by the proposed merger between Lloyds and HBOS, and it is unclear as yet how this will affect things.
Deposits in non-UK banks operating in the UK are generally covered up to £50,000, but not necessarily all through the FSCS. European Economic Area (EEA) banks can adopt a 'passport' approach, which means that the home country compensation scheme applies first with the FSCS providing a top up, if required.
However, two exceptions apply here.
They could choose to operate on the 'passport' basis only, leaving depositors with only the bank's home country compensation. The big name foreign players do not do this because of the bad publicity it would bring.
Also, the Irish Government increased its compensation scheme limit to €100,000 (about £79,500) on 20 September 2008. So banks like Anglo-Irish and Bank of Ireland offer UK investors a lot more protection than the FSCS. This affects the Post Office, as their accounts are operated by the Bank Of Ireland.
100% protection without any ceiling is available through National Savings & Investments and, for the time being, through Northern Rock.
Offset Mortgages
Many of our clients quite rightly use offset flexible loans as this can save them a lot of money over the years. However, what rules apply here?
There are two possibilities:
A rule called 'set-off' could come into play with the banks. This states that Insolvency Law rules that your net position is calculated - savings would be deducted from your debt.
But this law may not apply to Building Societies. The Building Societies Association have confirmed that the set-off rule would not automatically apply, although individual societies may have it written into their terms and conditions. Even then, this would depend on the administrators.
Life Assurance
For UK authorised life companies, it works like this - the FSCS covers 100% of the first £2,000 of value and 90% after this with no limit.
Offshore Life Companies
They rely on their home company scheme - if any exists. The Isle of Man's scheme is similar to the UK's, whilst Guernsey has no scheme, but insists on 90% of a life company's assets being held by an independent custodian.
UK Investment Bonds Invested in Cash Deposits
Neither the life company nor the investor can look for compensation from the FSCS if the deposit provider goes down, unless there is a
guarantee the investor will simply see the value of their bond fall.
On the other hand, if the life company fails, then the FSCS protection would apply. In such an instance the FSCS offers less protection than a direct deposit for sums of up to £38,667, but more cover for investments that are higher than this.
Investments
For FSA authorised investment business, the maximum compensation is 100% of the first £30,000 plus 90% of the next £20,000. This means a total of £48,000 in respect of investments worth £50,000 or more.
The important point to remember is that the FSCS comes into play when an institution fails, not when the investment itself fails.
However, if the failure of an investment leaves a bank or insurance company unable to meet any guarantees it has made, then protection rules do apply.
Rates
Don't forget to make sure you receive a competitive interest rate!
It is important to stress that whilst it is prudent to take all these factors into account, the interest rates you get on each account is crucial. These days you should be able to get in excess of 6% AER.
The Financial Tips Bottom Line
It is worth checking how you would be affected by these rules, and that you won't be affected if a bank fails.
ACTION POINT
For an overview and more detail on all the issues covered here, see - http://tinyurl.com/3ml6ar (note: the increase to £50,000 may not be covered here, depending on if the site has been updated).
Especially, guidance is given here on which brands are owned by who - spend a few minutes of your time to research these links. It could save you a lot of money!
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Just visit http://www.medicaldentalfs.com to get your free retirement planning guide.
Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Ray_Prince http://EzineArticles.com/?How-Safe-is-Your-Money?---Your-Guide-to-Protection&id=1571610
Saturday, October 11, 2008
Starting Your Own Personal Project on Financial Planning
Are you wise about your finances? Have you done the proper planning to meet your future financial needs, like your children's college funds or your retirement? Sure, no one can tell the future, but it wouldn't hurt for you to be prepared financially for it. Plan today and worry less about the future. If you haven't even thought of financial planning before, it's time for you to start your own personal project on financial planning, and this article will give you the basics to get started.
Starting Your Own Personal Project on Financial Planning
By [http://ezinearticles.com/?expert=Jamie_B._McIntyre]Jamie B. McIntyre
Are you wise about your finances? Have you done the proper planning to meet your future financial needs, like your children's college funds or your retirement? Sure, no one can tell the future, but it wouldn't hurt for you to be prepared financially for it. Plan today and worry less about the future. If you haven't even thought of financial planning before, it's time for you to start your own personal project on financial planning, and this article will give you the basics to get started.
First of all, before embarking on anything in life we have to learn the basics, and in the case of financial planning, learning the basics means arming yourself with a financial education. You can do this by reading magazines, newspapers, books, blogs - anything finance related. Keep yourself up to date on what's happening in the economy and how it translates to your personal finances. Even if you have your own personal financial planner, being more knowledgeable about investments, insurance, and other financial issues will ensure that you get the best financial plan out of your personal financial planner, because then you'll be able to discuss what works for you and what doesn't, without you having to just go along with your personal financial planner's advice because you have absolutely no idea what he's on about. Being more knowledgeable also allows you to smell a rat if your financial adviser is being unethical, so you're more likely to spot bad advice when you hear one.
The next thing you should keep in mind before you embark on your personal financial planning project is that fear is bad. The recent trouble with the economy has filled investors with a sense of dread and fear, causing them to drop stocks from their investment portfolios and load up on safer, more conservative forms of investments, such as certificates of deposit and bonds. Some have even pulled the plug on their investments completely and decided not to take any risk. This in turn causes another problem because then they would not be able to meet their long term financial goals, as their investment portfolios would be too conservative for them to earn any significant returns that they might need to retire in comfort. Worse still if they choose to stop saving, on top of ceasing their investments. Therefore it is important for you to not simply react to the market fluctuations and follow the masses blindly. Equip yourself with adequate knowledge to study the trends of the various financial instruments and decide wisely.
If you aren't already investing, you should consider starting right now. Sure, a lot of people don't like to think about investing because investing can be scary, especially with the economic outlook these days. The word "investing" also comes with the preconceived notion that only the rich and affluent can afford to do, or it requires one to be a skilled professional before they can invest. That couldn't be further from the truth; anyone can invest, and rightfully should. Most people think the only way to earn extra income is to work, work, and work. Overtime. What they don't realize is that investing gives them the opportunity to let their money work for them; they get to save on time but still get to earn some money on their downtime.
If you are already considering on investing but aren't sure of your finances, then it's time to get your finances organized. Your money is in a constant cycle; there's inflow, and there's outflow. What you want to do is to ensure that your inflow is significantly larger than your outflow at the end of the day. If you've got a ton of bills to pay and multiple bank accounts to keep track of, keeping track of your finances can be a real headache. Organizing your finances can save you a lot of time, so you should consider using a personal finance plan software. Take a few minutes to key in your cash inflows and outflows will help you stay on top of your finances.
There are many processes involved in a comprehensive financial planning. The above points are just a few suggestions for you to get started on your personal project on financial planning so that you'll be well on your way to a financially secured future. [http://www.worldwidewealthsolutions.com/]Click Here to discover the Millionaire SECRETS to financial freedom! Jamie McIntyre is a Life Coach, Philanthropist and self-made Millionaire providing life-changing advice on [http://www.worldwidewealthsolutions.com/]How To Make Money Easily to build your wealth.
Article Source: http://EzineArticles.com/?expert=Jamie_B._McIntyre http://EzineArticles.com/?Starting-Your-Own-Personal-Project-on-Financial-Planning&id=1557344
Starting Your Own Personal Project on Financial Planning
By [http://ezinearticles.com/?expert=Jamie_B._McIntyre]Jamie B. McIntyre
Are you wise about your finances? Have you done the proper planning to meet your future financial needs, like your children's college funds or your retirement? Sure, no one can tell the future, but it wouldn't hurt for you to be prepared financially for it. Plan today and worry less about the future. If you haven't even thought of financial planning before, it's time for you to start your own personal project on financial planning, and this article will give you the basics to get started.
First of all, before embarking on anything in life we have to learn the basics, and in the case of financial planning, learning the basics means arming yourself with a financial education. You can do this by reading magazines, newspapers, books, blogs - anything finance related. Keep yourself up to date on what's happening in the economy and how it translates to your personal finances. Even if you have your own personal financial planner, being more knowledgeable about investments, insurance, and other financial issues will ensure that you get the best financial plan out of your personal financial planner, because then you'll be able to discuss what works for you and what doesn't, without you having to just go along with your personal financial planner's advice because you have absolutely no idea what he's on about. Being more knowledgeable also allows you to smell a rat if your financial adviser is being unethical, so you're more likely to spot bad advice when you hear one.
The next thing you should keep in mind before you embark on your personal financial planning project is that fear is bad. The recent trouble with the economy has filled investors with a sense of dread and fear, causing them to drop stocks from their investment portfolios and load up on safer, more conservative forms of investments, such as certificates of deposit and bonds. Some have even pulled the plug on their investments completely and decided not to take any risk. This in turn causes another problem because then they would not be able to meet their long term financial goals, as their investment portfolios would be too conservative for them to earn any significant returns that they might need to retire in comfort. Worse still if they choose to stop saving, on top of ceasing their investments. Therefore it is important for you to not simply react to the market fluctuations and follow the masses blindly. Equip yourself with adequate knowledge to study the trends of the various financial instruments and decide wisely.
If you aren't already investing, you should consider starting right now. Sure, a lot of people don't like to think about investing because investing can be scary, especially with the economic outlook these days. The word "investing" also comes with the preconceived notion that only the rich and affluent can afford to do, or it requires one to be a skilled professional before they can invest. That couldn't be further from the truth; anyone can invest, and rightfully should. Most people think the only way to earn extra income is to work, work, and work. Overtime. What they don't realize is that investing gives them the opportunity to let their money work for them; they get to save on time but still get to earn some money on their downtime.
If you are already considering on investing but aren't sure of your finances, then it's time to get your finances organized. Your money is in a constant cycle; there's inflow, and there's outflow. What you want to do is to ensure that your inflow is significantly larger than your outflow at the end of the day. If you've got a ton of bills to pay and multiple bank accounts to keep track of, keeping track of your finances can be a real headache. Organizing your finances can save you a lot of time, so you should consider using a personal finance plan software. Take a few minutes to key in your cash inflows and outflows will help you stay on top of your finances.
There are many processes involved in a comprehensive financial planning. The above points are just a few suggestions for you to get started on your personal project on financial planning so that you'll be well on your way to a financially secured future. [http://www.worldwidewealthsolutions.com/]Click Here to discover the Millionaire SECRETS to financial freedom! Jamie McIntyre is a Life Coach, Philanthropist and self-made Millionaire providing life-changing advice on [http://www.worldwidewealthsolutions.com/]How To Make Money Easily to build your wealth.
Article Source: http://EzineArticles.com/?expert=Jamie_B._McIntyre http://EzineArticles.com/?Starting-Your-Own-Personal-Project-on-Financial-Planning&id=1557344
4 Tips For Smart Holiday Spending
As the holidays approach, there are plenty of things to think about. While you may be thinking about the festive side of things, you also need to be carefully thinking about what you're spending and have a spending plan.
4 Tips For Smart Holiday Spending
By [http://ezinearticles.com/?expert=Stephen_Sikes]Stephen Sikes
As the holidays come closer and closer, you may be starting to get nervous. Perhaps you are thinking back to last year at this time when you started your shopping and were having a great time buying things for everyone on your list. Then you flash to January of this year. The credit card bills arrived and you spent months trying to pay off all the spending you did.
Instead of letting things happen that way again, you need to have a better plan to be able to spend smart this holiday season.
Budget
Start with a holiday budget. You need to set a reasonable amount that you will be able to spend to get everything you want or need without letting the spending get out of hand. Make a list of all the people you need to buy gifts for, the parties you will be buying food for, or the festive events you want to attend, and how much they will cost. Keep this budget nearby and always refer to it before you think of making a purchase so you only buy what you need
Devise a Shopping Plan
The best way to do your Christmas shopping in budget is to learn how to get more for your money. One great way to do this is with shopping rewards credit cards. Shopping rewards credit cards are cards that literally reward you for shopping. They may be issued by a particular store, catalog or mall. As you spend on your shopping rewards credit cards you rack up points that can often be used for discounts or even gift certificates to the store, so you can get more for your money.
Don't Wait
Procrastination is your enemy. The longer you wait to get things done, the more you will become frantic as the holidays get closer. Being in a panic while shopping is a sure recipe to spend a lot more than you should because you start purchasing things that are not on your list in your frenzy.
Create a Payoff Plan
As you start your shopping this season, you should also start your strategy for paying it off. Ultimately, you should not spend more than you can pay off in one or two months, or you will be working against yourself as interest is tacked on to the money you owe. You may want to start saving up before the holidays and then use that money to pay off your cards after you have done all your shopping, while still getting any rewards your cards offer.
Steve Sikes is an MBA and writes articles on credit cards and other financial products. To read other articles and compare and apply online for top credit card offers for low interest, balance transfers, rewards, cash back, business, airline miles, you will want to visit http://www.CreditCardWave.com
Article Source: http://EzineArticles.com/?expert=Stephen_Sikes http://EzineArticles.com/?4-Tips-For-Smart-Holiday-Spending&id=1558843
4 Tips For Smart Holiday Spending
By [http://ezinearticles.com/?expert=Stephen_Sikes]Stephen Sikes
As the holidays come closer and closer, you may be starting to get nervous. Perhaps you are thinking back to last year at this time when you started your shopping and were having a great time buying things for everyone on your list. Then you flash to January of this year. The credit card bills arrived and you spent months trying to pay off all the spending you did.
Instead of letting things happen that way again, you need to have a better plan to be able to spend smart this holiday season.
Budget
Start with a holiday budget. You need to set a reasonable amount that you will be able to spend to get everything you want or need without letting the spending get out of hand. Make a list of all the people you need to buy gifts for, the parties you will be buying food for, or the festive events you want to attend, and how much they will cost. Keep this budget nearby and always refer to it before you think of making a purchase so you only buy what you need
Devise a Shopping Plan
The best way to do your Christmas shopping in budget is to learn how to get more for your money. One great way to do this is with shopping rewards credit cards. Shopping rewards credit cards are cards that literally reward you for shopping. They may be issued by a particular store, catalog or mall. As you spend on your shopping rewards credit cards you rack up points that can often be used for discounts or even gift certificates to the store, so you can get more for your money.
Don't Wait
Procrastination is your enemy. The longer you wait to get things done, the more you will become frantic as the holidays get closer. Being in a panic while shopping is a sure recipe to spend a lot more than you should because you start purchasing things that are not on your list in your frenzy.
Create a Payoff Plan
As you start your shopping this season, you should also start your strategy for paying it off. Ultimately, you should not spend more than you can pay off in one or two months, or you will be working against yourself as interest is tacked on to the money you owe. You may want to start saving up before the holidays and then use that money to pay off your cards after you have done all your shopping, while still getting any rewards your cards offer.
Steve Sikes is an MBA and writes articles on credit cards and other financial products. To read other articles and compare and apply online for top credit card offers for low interest, balance transfers, rewards, cash back, business, airline miles, you will want to visit http://www.CreditCardWave.com
Article Source: http://EzineArticles.com/?expert=Stephen_Sikes http://EzineArticles.com/?4-Tips-For-Smart-Holiday-Spending&id=1558843
GMAC Bank - Many Know About GMAC Loans, But They Have a Bank Too?
Should you do your banking with the GMAC Bank? Many people are surprised to hear that GMAC has a bank, as they typically associate them with auto loans. How is their banking service compared with other banks?
GMAC Bank - Many Know About GMAC Loans, But They Have a Bank Too?
By [http://ezinearticles.com/?expert=William_Perry]William Perry
When you think of GMAC, typically you don't think of the GMAC Bank-you think of the auto loans ,as this is what the company is known for. what many people aren't aware of is that GMAC is actually bank as well.
What does their bank offer? They offer services such as money market accounts, CODs, mortgages, insurance and of course, auto loans. Most people don't know that they offer all the services that they do, but their other services are top quality as well, and certainly something worth looking into.
Obviously, you want to know one thing when it comes to GMAC Bank-what are the interest rates? I can't tell you this for their mortgages and loans, because that will depend on your credit score, but for the money market account, it's three percent, and the CODs are four point 15 percent.
With these services, you get things such as all day long banking from the internet. in case you are out of the country, or just work third shift, you don't have to worry about not getting your money when you need it. You also receive a Visa debit card that is accepted anywhere around the planet.
The thing about this card is that, instead of buying something and putting it on your credit card bill, which you will then have to pay off later, with this device the money is deducted directly from your bank account, eliminating this step from your requirements.
Obviously, this makes it essential to know your current balance before making purchases, because if you go below a certain amount, you will have to pay fees, which I will cover in a moment. There are no transaction fees associated with the GMAC visa debit card, another nice feature, although many banks offer this.
How can you get a GMAC Bank card? It's very simple-just open up a money market account, and you will receive a card free of charge in the mail, and there's nothing else you have to do.
The best thing about the money market account is that you can open it up right from the internet. The days of driving to the bank and waiting for an hour or more to do this are long gone, and you will be able to achieve this in fifteen minutes or less.
You receive free use of other banks automatic teller machine, so you don't have to scour the city when you are in trying to find a GMAC ATM. Also, provided you keep at least five hundred dollars in your account, there are no fees associated with having an account, another nice feature you should keep in mind.
When it comes to banking, if you don't at least look into GMAC Bank, you would be doing yourself a disservice.
For more info on
the [http://www.onlinebankratings.com/gmacbank.htm]GMAC Bank, check out onlinebankratings.com,
a popular banking site that reviews many of the larger, small, and online banks,
and helps you find the [http://www.onlinebankratings.com/bestbankrates.htm]best bank rates
on the market.
Article Source: http://EzineArticles.com/?expert=William_Perry http://EzineArticles.com/?GMAC-Bank---Many-Know-About-GMAC-Loans,-But-They-Have-a-Bank-Too?&id=1560179
GMAC Bank - Many Know About GMAC Loans, But They Have a Bank Too?
By [http://ezinearticles.com/?expert=William_Perry]William Perry
When you think of GMAC, typically you don't think of the GMAC Bank-you think of the auto loans ,as this is what the company is known for. what many people aren't aware of is that GMAC is actually bank as well.
What does their bank offer? They offer services such as money market accounts, CODs, mortgages, insurance and of course, auto loans. Most people don't know that they offer all the services that they do, but their other services are top quality as well, and certainly something worth looking into.
Obviously, you want to know one thing when it comes to GMAC Bank-what are the interest rates? I can't tell you this for their mortgages and loans, because that will depend on your credit score, but for the money market account, it's three percent, and the CODs are four point 15 percent.
With these services, you get things such as all day long banking from the internet. in case you are out of the country, or just work third shift, you don't have to worry about not getting your money when you need it. You also receive a Visa debit card that is accepted anywhere around the planet.
The thing about this card is that, instead of buying something and putting it on your credit card bill, which you will then have to pay off later, with this device the money is deducted directly from your bank account, eliminating this step from your requirements.
Obviously, this makes it essential to know your current balance before making purchases, because if you go below a certain amount, you will have to pay fees, which I will cover in a moment. There are no transaction fees associated with the GMAC visa debit card, another nice feature, although many banks offer this.
How can you get a GMAC Bank card? It's very simple-just open up a money market account, and you will receive a card free of charge in the mail, and there's nothing else you have to do.
The best thing about the money market account is that you can open it up right from the internet. The days of driving to the bank and waiting for an hour or more to do this are long gone, and you will be able to achieve this in fifteen minutes or less.
You receive free use of other banks automatic teller machine, so you don't have to scour the city when you are in trying to find a GMAC ATM. Also, provided you keep at least five hundred dollars in your account, there are no fees associated with having an account, another nice feature you should keep in mind.
When it comes to banking, if you don't at least look into GMAC Bank, you would be doing yourself a disservice.
For more info on
the [http://www.onlinebankratings.com/gmacbank.htm]GMAC Bank, check out onlinebankratings.com,
a popular banking site that reviews many of the larger, small, and online banks,
and helps you find the [http://www.onlinebankratings.com/bestbankrates.htm]best bank rates
on the market.
Article Source: http://EzineArticles.com/?expert=William_Perry http://EzineArticles.com/?GMAC-Bank---Many-Know-About-GMAC-Loans,-But-They-Have-a-Bank-Too?&id=1560179
Why Do You Need a Personal Financial Planner?
What's the need for a personal financial planner? The cliched answer to the question is for obtaining worthwhile financial advice; however, how much ever correct an answer it is, you must stay cautious that he is not working as an agent undercover for some large financial institution.
Why Do You Need a Personal Financial Planner?
By [http://ezinearticles.com/?expert=Sambit_Sahoo]Sambit Sahoo
What's the need for a personal financial planner? The clichéd answer to the question is for obtaining worthwhile financial advice; however, how much ever correct an answer it is, you must stay cautious that he is not working as an agent undercover for some large financial institution. A personal financial planner with a contract with a life insurance (or any other financial) company just needs to sell the financial products devised by the company, irrespective of whether it suits your needs or not. But let's cut the long story short and concentrate on the situations when they can come real handy:
When you are an heir to a property: To simplify every complexity involved, none can be better than a personal financial planner.
When you are planning for marriage or divorce: When a new life commences, it also marks the beginning of new responsibilities. An involvement from a personal financial planner can blend all your available finances into a hefty amount for easy management for a better handling and understanding.
When complex financial products give you a hard time deciding: Insurances, retirement planning or umbrella liability policies don't make much sense unless explained by a professional. To choose the right financial product, a personal financial planner is the only way to go.
Buying/selling a property: These transactions need a string of big-money decisions within a very small timeframe; only specially trained people like personal financial planners can help you out of such mess.
Education planning: It's tough to simply save and meet the rising cost of education; a personal financial planner can keep you at par with the time.
Apart from the abovementioned, it's also estate planning (managing the inheritance of a property by your next generation), retirement planning, employee stock options and tax implications that remain as a personal financial planner's cup of tea; with some additional tips and guidance, it is always possible to move towards a better future and appointing a renowned personal financial planner is the first step towards it.
"For an added bit of information on personal finance, you're welcome to visit [http://www.respond.com]Respond.com where you can find [http://www.respond.com/financial-planners/find.html]financial planners near your area best suited to your specific requirements."
Article Source: http://EzineArticles.com/?expert=Sambit_Sahoo http://EzineArticles.com/?Why-Do-You-Need-a-Personal-Financial-Planner?&id=1561308
Why Do You Need a Personal Financial Planner?
By [http://ezinearticles.com/?expert=Sambit_Sahoo]Sambit Sahoo
What's the need for a personal financial planner? The clichéd answer to the question is for obtaining worthwhile financial advice; however, how much ever correct an answer it is, you must stay cautious that he is not working as an agent undercover for some large financial institution. A personal financial planner with a contract with a life insurance (or any other financial) company just needs to sell the financial products devised by the company, irrespective of whether it suits your needs or not. But let's cut the long story short and concentrate on the situations when they can come real handy:
When you are an heir to a property: To simplify every complexity involved, none can be better than a personal financial planner.
When you are planning for marriage or divorce: When a new life commences, it also marks the beginning of new responsibilities. An involvement from a personal financial planner can blend all your available finances into a hefty amount for easy management for a better handling and understanding.
When complex financial products give you a hard time deciding: Insurances, retirement planning or umbrella liability policies don't make much sense unless explained by a professional. To choose the right financial product, a personal financial planner is the only way to go.
Buying/selling a property: These transactions need a string of big-money decisions within a very small timeframe; only specially trained people like personal financial planners can help you out of such mess.
Education planning: It's tough to simply save and meet the rising cost of education; a personal financial planner can keep you at par with the time.
Apart from the abovementioned, it's also estate planning (managing the inheritance of a property by your next generation), retirement planning, employee stock options and tax implications that remain as a personal financial planner's cup of tea; with some additional tips and guidance, it is always possible to move towards a better future and appointing a renowned personal financial planner is the first step towards it.
"For an added bit of information on personal finance, you're welcome to visit [http://www.respond.com]Respond.com where you can find [http://www.respond.com/financial-planners/find.html]financial planners near your area best suited to your specific requirements."
Article Source: http://EzineArticles.com/?expert=Sambit_Sahoo http://EzineArticles.com/?Why-Do-You-Need-a-Personal-Financial-Planner?&id=1561308
The Credit Crisis - What Has it Taught Us?
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
The Credit Crisis - What Has it Taught Us?
By [http://ezinearticles.com/?expert=Brian_Ullitz]Brian Ullitz
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
We need to have order in our own house first. I am a big believer in personal responsibility. We can complain all we want about the incompetence of the politicians and the greed of Wall Street. But first we need to take a look at our own behavior and see if we have acted as we should have. I have made this list of some major lessons we as individuals should consider.
1. Know your mortgage. Many people have not been considering whether they could afford their mortgage to pay for their house. I think a lot of people were persuaded into a mortgage they could neither pay nor understand. We need to know what we are buying, especially if we are buying something as expensive as a house. Just because the nice man in the bank wants to lend us the money, doesn't mean we can afford it. I recommend looking at a plain mortgage. Can you afford to pay a 20-year loan at a fixed interest rate and repayments on the principal right away? If so, you can afford to buy the house. If not, it doesn't matter how fancy a loan the financial industry can come up with, you basically still can't afford it.
2. Live within your means. Both society as a whole and many people are not living within their means. If you keep getting credit, you will undermine your future financial position. Of course, you can get to a temporary tight spot or you can need loans to invest in a house. But using your credit card to buy everyday goods is not very advisable.
3. Be critical of advice. Taking advice from the people who want to lend us money, or for that matter sell us anything else, creates a potential conflict of interest. They are interested in selling as much as possible and you are interested in paying as little as possible. So be very critical of their advice and verify their claims from a second source that has no vested interests. If you don't know anything about it, I think it is wise to consult an independent adviser before signing a house deal. It might cost a little, but it can save you a lot down the road.
4. Prepare for the bad times. The economy moves in cycles. Some years are good; some are not so good. Yes, this is even worse than the normal downturn, but we will make it through nevertheless. What you have to remember is to prepare yourself for the downturns, during the good times. This means making a cash reserve, investing in your retirement and generally living within your means.
5. Involve yourself in society. Although the market is generally taking care of many things efficiently, we can't let it work without any supervision. Some people's greed can destroy it for everybody if we don't keep an eye on them. There needs to be some legislation. History shows us every society needs some common playing rules to make it work in everybody's best interest. So be involved in making sure both political and business leaders act in the common best interest.
Of course, many more lessons can be drawn, depending on your personal conditions. There are also many more lessons for both Washington and Wall Street. But I believe these are the most important ones for us as individuals.
Brian Ullitz has written the e-book "Enjoy Healthy Personal Finances". He is educated at Copenhagen Business School in Denmark and has worked with finances since 1999. He is now the driving force behind the personal finance site http://finance4everyone.org/
He enjoys talking about finances and loves to help people improve their financial knowledge. It is his firm belief that everyone can experience prosperity. This includes you too. All it takes is the knowledge of how you can do it better and action to implement this knowledge in your life.
Article Source: http://EzineArticles.com/?expert=Brian_Ullitz http://EzineArticles.com/?The-Credit-Crisis---What-Has-it-Taught-Us?&id=1562376
The Credit Crisis - What Has it Taught Us?
By [http://ezinearticles.com/?expert=Brian_Ullitz]Brian Ullitz
The credit crisis seems to reach new levels every day. There are more foreclosures, house prices drop even lower and we can't get loans for new purchases. The crisis has come about because numerous mistakes have been made. The government didn't set up necessary legislation, financial institutions were greedy and borrowers didn't consider whether they could afford the debts they borrowed. So, when we look back, what can we as individuals learn for the future?
We need to have order in our own house first. I am a big believer in personal responsibility. We can complain all we want about the incompetence of the politicians and the greed of Wall Street. But first we need to take a look at our own behavior and see if we have acted as we should have. I have made this list of some major lessons we as individuals should consider.
1. Know your mortgage. Many people have not been considering whether they could afford their mortgage to pay for their house. I think a lot of people were persuaded into a mortgage they could neither pay nor understand. We need to know what we are buying, especially if we are buying something as expensive as a house. Just because the nice man in the bank wants to lend us the money, doesn't mean we can afford it. I recommend looking at a plain mortgage. Can you afford to pay a 20-year loan at a fixed interest rate and repayments on the principal right away? If so, you can afford to buy the house. If not, it doesn't matter how fancy a loan the financial industry can come up with, you basically still can't afford it.
2. Live within your means. Both society as a whole and many people are not living within their means. If you keep getting credit, you will undermine your future financial position. Of course, you can get to a temporary tight spot or you can need loans to invest in a house. But using your credit card to buy everyday goods is not very advisable.
3. Be critical of advice. Taking advice from the people who want to lend us money, or for that matter sell us anything else, creates a potential conflict of interest. They are interested in selling as much as possible and you are interested in paying as little as possible. So be very critical of their advice and verify their claims from a second source that has no vested interests. If you don't know anything about it, I think it is wise to consult an independent adviser before signing a house deal. It might cost a little, but it can save you a lot down the road.
4. Prepare for the bad times. The economy moves in cycles. Some years are good; some are not so good. Yes, this is even worse than the normal downturn, but we will make it through nevertheless. What you have to remember is to prepare yourself for the downturns, during the good times. This means making a cash reserve, investing in your retirement and generally living within your means.
5. Involve yourself in society. Although the market is generally taking care of many things efficiently, we can't let it work without any supervision. Some people's greed can destroy it for everybody if we don't keep an eye on them. There needs to be some legislation. History shows us every society needs some common playing rules to make it work in everybody's best interest. So be involved in making sure both political and business leaders act in the common best interest.
Of course, many more lessons can be drawn, depending on your personal conditions. There are also many more lessons for both Washington and Wall Street. But I believe these are the most important ones for us as individuals.
Brian Ullitz has written the e-book "Enjoy Healthy Personal Finances". He is educated at Copenhagen Business School in Denmark and has worked with finances since 1999. He is now the driving force behind the personal finance site http://finance4everyone.org/
He enjoys talking about finances and loves to help people improve their financial knowledge. It is his firm belief that everyone can experience prosperity. This includes you too. All it takes is the knowledge of how you can do it better and action to implement this knowledge in your life.
Article Source: http://EzineArticles.com/?expert=Brian_Ullitz http://EzineArticles.com/?The-Credit-Crisis---What-Has-it-Taught-Us?&id=1562376
How to Budget Your Money Without Struggling
Living within your means can be very difficult anymore because of all the new gadgets and shiny toys that are thrown at us constantly. We live in a very instant world where we want everything. We tend to base our lives on things instead of really matters and this is dangerous. Here are some tips to help you how to budget your money and stay out of the money trap.
How to Budget Your Money Without Struggling
By [http://ezinearticles.com/?expert=Benjamin_Robert_Ehinger]Benjamin Robert Ehinger
Living within your means can be very difficult anymore because of all the new gadgets and shiny toys that are thrown at us constantly. We live in a very instant world where we want everything. We tend to base our lives on things instead of really matters and this is dangerous. Here are some tips to help you how to budget your money and stay out of the money trap.
First, if you receive a raise or you get a better paying job do not start spending or changing your life right away. You should never change your lifestyle, i.e. place you live, car you drive, and other things you have, without first having 6 months to a year worth of your new bills in the bank. This gives you the padding to change back if you lose your job or to find another job if you lose your job.
Second, understand that money is not your master. It is a horrible master and will always lead you a stray. If you allow money to be servant, however, it can work wonders for your bank account, self esteem, and stress level. Think about it this way, if you had $50,000 just sitting in the bank, then you would have much less to worry about when it comes to money. This would ease your stress and make the life changes that are bound to come about much easier.
Last, know what you can afford. Make sure that if you cannot afford something you walk away from it. Learning how to budget your money is not hard, but it takes discipline and that is what makes it difficult. You have to set up a budget for yourself and stick to it. If you plan correctly, then this should be pretty easy and you can always add in an extra column for emergencies or for unexpected spending.
Discover more about [http://www.Free-Offer-Sites.info/Budget/Articles/How-To-Budget-Money.html]How To Budget Your Money by visiting the follow website: [http://www.Free-Offer-Sites.info/Budget/Articles/How-To-Budget-Money.html]How To Budget Your Money
Article Source: http://EzineArticles.com/?expert=Benjamin_Robert_Ehinger http://EzineArticles.com/?How-to-Budget-Your-Money-Without-Struggling&id=1564277
How to Budget Your Money Without Struggling
By [http://ezinearticles.com/?expert=Benjamin_Robert_Ehinger]Benjamin Robert Ehinger
Living within your means can be very difficult anymore because of all the new gadgets and shiny toys that are thrown at us constantly. We live in a very instant world where we want everything. We tend to base our lives on things instead of really matters and this is dangerous. Here are some tips to help you how to budget your money and stay out of the money trap.
First, if you receive a raise or you get a better paying job do not start spending or changing your life right away. You should never change your lifestyle, i.e. place you live, car you drive, and other things you have, without first having 6 months to a year worth of your new bills in the bank. This gives you the padding to change back if you lose your job or to find another job if you lose your job.
Second, understand that money is not your master. It is a horrible master and will always lead you a stray. If you allow money to be servant, however, it can work wonders for your bank account, self esteem, and stress level. Think about it this way, if you had $50,000 just sitting in the bank, then you would have much less to worry about when it comes to money. This would ease your stress and make the life changes that are bound to come about much easier.
Last, know what you can afford. Make sure that if you cannot afford something you walk away from it. Learning how to budget your money is not hard, but it takes discipline and that is what makes it difficult. You have to set up a budget for yourself and stick to it. If you plan correctly, then this should be pretty easy and you can always add in an extra column for emergencies or for unexpected spending.
Discover more about [http://www.Free-Offer-Sites.info/Budget/Articles/How-To-Budget-Money.html]How To Budget Your Money by visiting the follow website: [http://www.Free-Offer-Sites.info/Budget/Articles/How-To-Budget-Money.html]How To Budget Your Money
Article Source: http://EzineArticles.com/?expert=Benjamin_Robert_Ehinger http://EzineArticles.com/?How-to-Budget-Your-Money-Without-Struggling&id=1564277
Understanding the Importance of Remittance
Remittances worldwide have become a major factor in helping developing countries build infrastructure. Remittances contribute to millions of families around the world sent family members abroad.
Understanding the Importance of Remittance
By [http://ezinearticles.com/?expert=Jason_Karp]Jason Karp
Workers' remittances have become a major source of external development finance. Officially recorded remittances received by developing countries exceeded $250 billion in 2006. The actual size of remittances, including both officially recorded and unrecorded transfers through informal channels is even larger.
There are 2 kinds of remittances-family and community. Family remittances are money sent by individual immigrants to family and friends back home. These remittances are often used to meet their most basic needs.
Community remittances are money sent by immigrants and by hometown associations to communities in their home country. This money is traditionally used for infrastructure like roads, schools, parks and churches.
Remittances are now more than double the size of net official flows and are second only to foreign direct investment as a source of external finance of developing countries. In 36 out of 153 developing countries, remittances are larger than all capital flows, public and private.
Also, remittances are stable and may even be counter-cyclical in times of economic hardship. Moreover, remittances are person-to-person flows, targeted to the needs of the recipients who are often poor.
Regulation of remittance flows is key in assuring migrants that their families back home receive the money they have worked for. There is a need to strike a balance between a regulatory regime that minimizes money laundering, terrorist financing and general financial abuse, and one that facilitates the flows of funds between hard-working migrants and their families.
Migrants often use informal channels to send money home because these channels are cheaper, are better suited to transferring funds to remote areas, offer the advantage of the native language, and, on rare occasions, anonymity. Informal channels however can be subject to abuse.
Strengthening the formal remittance infrastructure by offering the advantages of low cost, expanded reach and language can shift flows from the informal to formal sector.
Remittances are believed to reduce poverty, as it is the poor who migrate and send back money to their families, although some argue that it is actually the rich who can migrate and send back remittances. The impact of remittances depends on their use, especially on schooling of children. Studies show that the school drop-out rate is lower and enrollment ratio higher in households that receive remittances.
There is tremendous potential for using remittances to encourage development in countries. Some have argued that were remittances to stop flowing, Latin America's economies would collapse in an estimated three months.
Remittances tend to increase when the home country's economy slows, making it a particularly effective anti-poverty tool. The money sent home promotes economic growth, increased investment and community development.
For more information on [http://blog.atmcash.com/]sending money both within the United States and abroad visit [http://www.atmcash.com]Send Money world wide or atmcash.com
Article Source: http://EzineArticles.com/?expert=Jason_Karp http://EzineArticles.com/?Understanding-the-Importance-of-Remittance&id=1564118
Understanding the Importance of Remittance
By [http://ezinearticles.com/?expert=Jason_Karp]Jason Karp
Workers' remittances have become a major source of external development finance. Officially recorded remittances received by developing countries exceeded $250 billion in 2006. The actual size of remittances, including both officially recorded and unrecorded transfers through informal channels is even larger.
There are 2 kinds of remittances-family and community. Family remittances are money sent by individual immigrants to family and friends back home. These remittances are often used to meet their most basic needs.
Community remittances are money sent by immigrants and by hometown associations to communities in their home country. This money is traditionally used for infrastructure like roads, schools, parks and churches.
Remittances are now more than double the size of net official flows and are second only to foreign direct investment as a source of external finance of developing countries. In 36 out of 153 developing countries, remittances are larger than all capital flows, public and private.
Also, remittances are stable and may even be counter-cyclical in times of economic hardship. Moreover, remittances are person-to-person flows, targeted to the needs of the recipients who are often poor.
Regulation of remittance flows is key in assuring migrants that their families back home receive the money they have worked for. There is a need to strike a balance between a regulatory regime that minimizes money laundering, terrorist financing and general financial abuse, and one that facilitates the flows of funds between hard-working migrants and their families.
Migrants often use informal channels to send money home because these channels are cheaper, are better suited to transferring funds to remote areas, offer the advantage of the native language, and, on rare occasions, anonymity. Informal channels however can be subject to abuse.
Strengthening the formal remittance infrastructure by offering the advantages of low cost, expanded reach and language can shift flows from the informal to formal sector.
Remittances are believed to reduce poverty, as it is the poor who migrate and send back money to their families, although some argue that it is actually the rich who can migrate and send back remittances. The impact of remittances depends on their use, especially on schooling of children. Studies show that the school drop-out rate is lower and enrollment ratio higher in households that receive remittances.
There is tremendous potential for using remittances to encourage development in countries. Some have argued that were remittances to stop flowing, Latin America's economies would collapse in an estimated three months.
Remittances tend to increase when the home country's economy slows, making it a particularly effective anti-poverty tool. The money sent home promotes economic growth, increased investment and community development.
For more information on [http://blog.atmcash.com/]sending money both within the United States and abroad visit [http://www.atmcash.com]Send Money world wide or atmcash.com
Article Source: http://EzineArticles.com/?expert=Jason_Karp http://EzineArticles.com/?Understanding-the-Importance-of-Remittance&id=1564118
Tips For Saving Money on Groceries
Cutting costs seems to be a top priority in these tough economic times. It's back to basics - beginning with simple things like saving at the grocery store.
Tips For Saving Money on Groceries
By [http://ezinearticles.com/?expert=Deb_Allen]Deb Allen
With the rising cost of living almost everyone is looking for ways to save money. No wonder, it seems that most of us are struggling to make ends meet or we simply do not have anything left over for fun. And life should be enjoyable!
Since eating a priority for all of us I thought it would be a good idea to prepare a report about how to save money on groceries, and no, this is not about clipping coupons. I am not against using coupons but that is only one way to save money and most of us are aware of that option. Either we use coupons religiously or we simply do not have an interest in it at all.
So what I want to share with you are basic ways to save money and cut costs from your grocery expenses. To begin I think we need to start with the simple concept that cooking saves you money. By cooking your meals you will save on the costs involved with eating out or with convenience foods. This also means that you should cut back on recreational eating, or snacking.
Additionally you will be eating healthier. Another advantage is that you are likely to lose a few pounds simply because you will be more in control of what you and your family consume. It is a good idea to consider using a slow cooker or crock pot.
This allows you to use cheaper cuts of meat and still eat nutritiously. Plus, the food will be delicious and the cooker will take the work off of you. In fact, you can start the meal in the slow cooker early in the morning and it will be finished about supper time.
If you really want to save money at the grocery store your efforts need to begin before you leave home. First things first, check to see what items you need. The reason for this is that you do not need to spend money on what you already have plenty of. If you purchase too much of an item it may become stale or sour before you can use it.
A good tip is to keep a running list of needed grocery items as well as other essentials. Keep this list in a handy location that all family members can add to. Then when someone eats the last bowl of cereal or drinks the last of the orange juice they can add that to your list.
If you are concerned that some members of your household might add unwanted items to the list then consider creating a list of items with a box next to them. Then the box can simply be checked. This allows you to always be in control of what is on that list.
Another step to take before leaving home is to eat. I know that sounds silly but believe me, you will buy more groceries and lots of nonessential food items if you are hungry when you shop.
One other step before leaving home is that of planning a menu for the week. This can be basic but even so it will help guide you to buy only what you need for the week. After you have a menu and the running list of things needed you can create your actual grocery shopping list.
You may not always have a choice about this but I suggest that you shop alone whenever possible. The reason is that you are trying to accomplish a goal; your goal is to buy what you need and save money at the same time. If you take along children or a partner you may find that it is more difficult to stick with that goal.
While shopping you should always focus on real food items instead of the convenience foods and snack items. In almost all grocery stores you will find the real food items around the perimeter of the store. I am referring to things like produce and meat as well as dairy products.
Use your list to help you stay focused. Your job is to get what you came for and get out of the store. Avoid the items that are on special displays and at the check out. Impulse buying is almost never a good idea.
Speaking of which, you should only shop on the aisles that will have something you need; always focus on what you came for. Buy items that are on sale whenever you find a match to your list. Check labels for ingredients and compare various brands, including store brands and any brands you are not familiar with. A cheap price is not a good deal if the purchase will not be consumed.
Find out how you can get the full report on saving at the grocery store and another on saving at the gas pump by visiting: http://www.money-savingideas.com
Article Source: http://EzineArticles.com/?expert=Deb_Allen http://EzineArticles.com/?Tips-For-Saving-Money-on-Groceries&id=1563857
Tips For Saving Money on Groceries
By [http://ezinearticles.com/?expert=Deb_Allen]Deb Allen
With the rising cost of living almost everyone is looking for ways to save money. No wonder, it seems that most of us are struggling to make ends meet or we simply do not have anything left over for fun. And life should be enjoyable!
Since eating a priority for all of us I thought it would be a good idea to prepare a report about how to save money on groceries, and no, this is not about clipping coupons. I am not against using coupons but that is only one way to save money and most of us are aware of that option. Either we use coupons religiously or we simply do not have an interest in it at all.
So what I want to share with you are basic ways to save money and cut costs from your grocery expenses. To begin I think we need to start with the simple concept that cooking saves you money. By cooking your meals you will save on the costs involved with eating out or with convenience foods. This also means that you should cut back on recreational eating, or snacking.
Additionally you will be eating healthier. Another advantage is that you are likely to lose a few pounds simply because you will be more in control of what you and your family consume. It is a good idea to consider using a slow cooker or crock pot.
This allows you to use cheaper cuts of meat and still eat nutritiously. Plus, the food will be delicious and the cooker will take the work off of you. In fact, you can start the meal in the slow cooker early in the morning and it will be finished about supper time.
If you really want to save money at the grocery store your efforts need to begin before you leave home. First things first, check to see what items you need. The reason for this is that you do not need to spend money on what you already have plenty of. If you purchase too much of an item it may become stale or sour before you can use it.
A good tip is to keep a running list of needed grocery items as well as other essentials. Keep this list in a handy location that all family members can add to. Then when someone eats the last bowl of cereal or drinks the last of the orange juice they can add that to your list.
If you are concerned that some members of your household might add unwanted items to the list then consider creating a list of items with a box next to them. Then the box can simply be checked. This allows you to always be in control of what is on that list.
Another step to take before leaving home is to eat. I know that sounds silly but believe me, you will buy more groceries and lots of nonessential food items if you are hungry when you shop.
One other step before leaving home is that of planning a menu for the week. This can be basic but even so it will help guide you to buy only what you need for the week. After you have a menu and the running list of things needed you can create your actual grocery shopping list.
You may not always have a choice about this but I suggest that you shop alone whenever possible. The reason is that you are trying to accomplish a goal; your goal is to buy what you need and save money at the same time. If you take along children or a partner you may find that it is more difficult to stick with that goal.
While shopping you should always focus on real food items instead of the convenience foods and snack items. In almost all grocery stores you will find the real food items around the perimeter of the store. I am referring to things like produce and meat as well as dairy products.
Use your list to help you stay focused. Your job is to get what you came for and get out of the store. Avoid the items that are on special displays and at the check out. Impulse buying is almost never a good idea.
Speaking of which, you should only shop on the aisles that will have something you need; always focus on what you came for. Buy items that are on sale whenever you find a match to your list. Check labels for ingredients and compare various brands, including store brands and any brands you are not familiar with. A cheap price is not a good deal if the purchase will not be consumed.
Find out how you can get the full report on saving at the grocery store and another on saving at the gas pump by visiting: http://www.money-savingideas.com
Article Source: http://EzineArticles.com/?expert=Deb_Allen http://EzineArticles.com/?Tips-For-Saving-Money-on-Groceries&id=1563857
Bank of America - Layoffs and Financial Ruin Plague the World's Largest Bank
Law suits, merger battles, takeovers, layoffs, bankruptcies and outright loss are what constitutes daily life at the Bank of America these days. Profit margins have fallen over 90% since 2006 and continue to do so.
Bank of America - Layoffs and Financial Ruin Plague the World's Largest Bank
By [http://ezinearticles.com/?expert=Demetrios_Tzortzis]Demetrios Tzortzis
Law suits, merger battles, takeovers, layoffs, bankruptcies and outright loss are what constitutes daily life at the Bank of America these days. Profit margins have fallen over 90% since 2006 and continue to do so. Of course, the crippled US government is going to further expose its bleeding financial throat with a $700 billion bail out.
Everyone hears the headlines, but most fail to recognize what's driving them. Besides Merrill Lynch being acquired by the Bank of America; aside from the fact that Goldman Sachs is teetering on total collapse; regardless that Washington Mutual is in ruins; there are also over 117 other banks listed as "in trouble" on the Federal Deposit Insurance Corporation's (FDIC) list. It is time for the people to wake up and admit that depending on corporate giants and the US government is killing us all - and not just financially.
Are you aware that there is a better way to create your financial liberation? Are you aware that the Epic Wealth System is the highest-converting program of its kind on the Internet - and that it has been? The totally-automated system at Epic Wealth can change the way that you think about your finances - and about your life in general. The Internet stands outside of the corruption and misinformation that controls the masses. The Internet has been creating and continues to create more millionaires from real people like yourself than has ever been reported before.
Epic Wealth System separates you from the poisoned scenarios that traditional "slave-job" enforcers will have you believe. They do not care if you spend your entire life in corporate servitude only to be crushed into restitution at retirement time. You cannot trust the corrupt government and greedy corporate structures to take care of you and your family - you must embrace a new philosophy. You must embrace the profound leveraging power of the Internet and the Epic Wealth System.
Even those bankers and traders that have so far managed to escape being laid off will be soon. You must be realistic about who is going to ultimately suffer for the financial meltdown currently being experienced. Hint: it won't be the government and it won't be the CEOs that line the politicians pockets either.
Demetrios Tzortzis has coached and mentored countless individuals in online marketing strategies and tactics. Demetrios' straight forward, no BS approach is unlocking the potential for new marketers to succeed without the initial "beginners" slump.
Demetrios Tzortzis
720.339.3808
[mailto:livetoprosper@gmail.com]livetoprosper@gmail.com http://www.YourFatPockets.com http://www.YouTube.com/Dprosperityman
Article Source: http://EzineArticles.com/?expert=Demetrios_Tzortzis http://EzineArticles.com/?Bank-of-America---Layoffs-and-Financial-Ruin-Plague-the-Worlds-Largest-Bank&id=1563234
Bank of America - Layoffs and Financial Ruin Plague the World's Largest Bank
By [http://ezinearticles.com/?expert=Demetrios_Tzortzis]Demetrios Tzortzis
Law suits, merger battles, takeovers, layoffs, bankruptcies and outright loss are what constitutes daily life at the Bank of America these days. Profit margins have fallen over 90% since 2006 and continue to do so. Of course, the crippled US government is going to further expose its bleeding financial throat with a $700 billion bail out.
Everyone hears the headlines, but most fail to recognize what's driving them. Besides Merrill Lynch being acquired by the Bank of America; aside from the fact that Goldman Sachs is teetering on total collapse; regardless that Washington Mutual is in ruins; there are also over 117 other banks listed as "in trouble" on the Federal Deposit Insurance Corporation's (FDIC) list. It is time for the people to wake up and admit that depending on corporate giants and the US government is killing us all - and not just financially.
Are you aware that there is a better way to create your financial liberation? Are you aware that the Epic Wealth System is the highest-converting program of its kind on the Internet - and that it has been? The totally-automated system at Epic Wealth can change the way that you think about your finances - and about your life in general. The Internet stands outside of the corruption and misinformation that controls the masses. The Internet has been creating and continues to create more millionaires from real people like yourself than has ever been reported before.
Epic Wealth System separates you from the poisoned scenarios that traditional "slave-job" enforcers will have you believe. They do not care if you spend your entire life in corporate servitude only to be crushed into restitution at retirement time. You cannot trust the corrupt government and greedy corporate structures to take care of you and your family - you must embrace a new philosophy. You must embrace the profound leveraging power of the Internet and the Epic Wealth System.
Even those bankers and traders that have so far managed to escape being laid off will be soon. You must be realistic about who is going to ultimately suffer for the financial meltdown currently being experienced. Hint: it won't be the government and it won't be the CEOs that line the politicians pockets either.
Demetrios Tzortzis has coached and mentored countless individuals in online marketing strategies and tactics. Demetrios' straight forward, no BS approach is unlocking the potential for new marketers to succeed without the initial "beginners" slump.
Demetrios Tzortzis
720.339.3808
[mailto:livetoprosper@gmail.com]livetoprosper@gmail.com http://www.YourFatPockets.com http://www.YouTube.com/Dprosperityman
Article Source: http://EzineArticles.com/?expert=Demetrios_Tzortzis http://EzineArticles.com/?Bank-of-America---Layoffs-and-Financial-Ruin-Plague-the-Worlds-Largest-Bank&id=1563234
Tips For Saving During a Recession
This article discusses tips for saving money during a recession. Just by using a few simple tips that are easy to implement, you can stuff your savings account with cash. From cutting corners to becoming a mini-entrepreneur, these tips will help you out.
Tips For Saving During a Recession
By [http://ezinearticles.com/?expert=Danielle_L._Taylor]Danielle L. Taylor
If you’re worried about the current economic status, you’re not the only one. With talk of recession and the obvious increase in cost on everything from gas to milk to rent – it’s a pretty scary situation. You may feel like there is no way to save money at all – after all, some people can barely pay for their own bills. However, it is possible to continue saving money, even during a recession. Here are some important tips for saving during a recession.
Eat at Home –
One important thing you can do to save money is eat at home. When you purchase groceries weekly or bi-weekly, it may seem like a lot of money at a time – but it’s much cheaper than eating out. Of course, it doesn’t feel that way because you’re spending a little at a time, but $20 here and $40 there really adds up and before you know it, you’re spending a hundred or more dollars a week on eating out.
Recreate your favorite restaurant meals by looking them up on copycat recipe websites. Then, you can save money and still enjoy the foods you love. If you’re really lucky, you can get someone else in your house to wash the dishes without paying them minimum wage. Place the extra money in a savings account and allow it to earn interest.
Cut Unnecessary Spending –
Most of us have our fits of spending – even if we don’t go shopping. For instance, if you have cable television or extra features on your phone plan, cut them out. Even if you just cut the extra features for 6 months, you can save a lot of money! Put the money into a savings account rather than spending it on something else.
Track your spending and don’t spend the money unless you need something. For instance, take a thermos full of coffee to work in the morning rather than stopping at the Starbuck’s on the way. Rather than purchasing your clothing at the department store, shop around yard sales or thrift stores. You can often find new clothing for a fraction of the price!
Have Yard Sales/Garage Sales/Fundraisers –
In order to boost your savings account, you can sell off things that you no longer want or need. For instance, have a yard sale or a garage sale on the weekend and get rid of the clothing, furniture, movies, knickknacks and other things you don’t want. Place the money you make into your savings account rather than spending it.
Another thing you can do is have fundraisers. Do you have talent for crafts such as basket making, soap making, decorative items or something else? Make some and take them to the flea market, crafts fair, etc. This is a great and fun way to make some extra money that you can dump into your savings account for the recession.
Saving money is often difficult and with the current pricing on most items, it can seem really impossible. However, using little tips and tricks like the ones above will help you save money and be prepared for difficult times.
Danielle L. Taylor is the author and editor for Xstilla.com - one of the most active divorce support communities in the Internet. To learn more about divorce, child support, dating or to discuss your problem with compassionate and understanding members of the community visit http://www.Xstilla.com
Article Source: http://EzineArticles.com/?expert=Danielle_L._Taylor http://EzineArticles.com/?Tips-For-Saving-During-a-Recession&id=1563023
Tips For Saving During a Recession
By [http://ezinearticles.com/?expert=Danielle_L._Taylor]Danielle L. Taylor
If you’re worried about the current economic status, you’re not the only one. With talk of recession and the obvious increase in cost on everything from gas to milk to rent – it’s a pretty scary situation. You may feel like there is no way to save money at all – after all, some people can barely pay for their own bills. However, it is possible to continue saving money, even during a recession. Here are some important tips for saving during a recession.
Eat at Home –
One important thing you can do to save money is eat at home. When you purchase groceries weekly or bi-weekly, it may seem like a lot of money at a time – but it’s much cheaper than eating out. Of course, it doesn’t feel that way because you’re spending a little at a time, but $20 here and $40 there really adds up and before you know it, you’re spending a hundred or more dollars a week on eating out.
Recreate your favorite restaurant meals by looking them up on copycat recipe websites. Then, you can save money and still enjoy the foods you love. If you’re really lucky, you can get someone else in your house to wash the dishes without paying them minimum wage. Place the extra money in a savings account and allow it to earn interest.
Cut Unnecessary Spending –
Most of us have our fits of spending – even if we don’t go shopping. For instance, if you have cable television or extra features on your phone plan, cut them out. Even if you just cut the extra features for 6 months, you can save a lot of money! Put the money into a savings account rather than spending it on something else.
Track your spending and don’t spend the money unless you need something. For instance, take a thermos full of coffee to work in the morning rather than stopping at the Starbuck’s on the way. Rather than purchasing your clothing at the department store, shop around yard sales or thrift stores. You can often find new clothing for a fraction of the price!
Have Yard Sales/Garage Sales/Fundraisers –
In order to boost your savings account, you can sell off things that you no longer want or need. For instance, have a yard sale or a garage sale on the weekend and get rid of the clothing, furniture, movies, knickknacks and other things you don’t want. Place the money you make into your savings account rather than spending it.
Another thing you can do is have fundraisers. Do you have talent for crafts such as basket making, soap making, decorative items or something else? Make some and take them to the flea market, crafts fair, etc. This is a great and fun way to make some extra money that you can dump into your savings account for the recession.
Saving money is often difficult and with the current pricing on most items, it can seem really impossible. However, using little tips and tricks like the ones above will help you save money and be prepared for difficult times.
Danielle L. Taylor is the author and editor for Xstilla.com - one of the most active divorce support communities in the Internet. To learn more about divorce, child support, dating or to discuss your problem with compassionate and understanding members of the community visit http://www.Xstilla.com
Article Source: http://EzineArticles.com/?expert=Danielle_L._Taylor http://EzineArticles.com/?Tips-For-Saving-During-a-Recession&id=1563023
What Crisis? Saving Money As Normal
Fears stemming from the recent financial climate are ensuring many people become uncertain about their money. What remains true, however, is that working hard to save can pay off in future.
What Crisis? Saving Money As Normal
By [http://ezinearticles.com/?expert=Isla_Campbell]Isla Campbell
The current economic climate in the UK has been called 'arguably the worst' in the last 60 years. The resulting 'credit crunch' has affected thousands of businesses and perhaps more so, their employees. The public also have their own very justified feelings on the issue, with many concerned at the number of negative stories being presented by the media in recent times.
Recent studies have revealed that a healthy proportion of people in the UK are actually prepared for tough times ahead. It was estimated that, at the beginning of 2008, seven in ten British adults had some form of investments or savings, with 54 percent of the population holding deposit accounts and 34 percent with ISAs.
Many people with mortgages and credit cards, however, may be worried that they will feel the full force of the 'crunch', in the case that that their repayments will be tougher to afford. However, these forms of borrowing are actually essential to millions of people in the UK, with so few being able to afford an expensive investment like a house or car without acquiring some financial help and guidance.
For the proportion of the population who do borrow in some way, saving can still be an achievable target and repayments can be affordable with the right management. The results of the 2007 Annual Survey of Hours and Earnings (ASHE) displayed that the average full-time employee in the UK earns £457 per week. If part of this figure can be carefully utilised each pay day, individuals can avoid struggling with their finances.
Careful management is often advised to be the key - putting aside a regular amount of funds regardless of the circumstance is often seen to be the most effective way to both pay off debts and to build savings. And denying oneself expensive luxuries for a period will also make a significant difference, as will downgrading the car or even the house that is currently owned. If a pay rise occurs, it is often advised to save the extra cash rather than splash out. Overall, the target should be establishing a position where an individual controls their money, rather than spends without consideration.
To maintain a certain level of control of ones money, it is important to ensure the right type of savings are utilised. Getting the right advice is key, therefore, whatever method is used - opening a new current account, taking out an ISA or more effectively borrowing using the right tools to [http://www.moneynet.co.uk/credit-card/index.shtml]compare credit cards - the method can be tailored to each individual.
In doing this, it is important to ensure the advice received is trustworthy and unbiased. Essentially, saving is a habit to maintain so that there is always something to fall back on in the event of an unforeseen crisis,. Therefore, the consumer who wishes to save should have all the right information and support to allow them to prepare themselves, whatever state the economic climate is in.
Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
Article Source: http://EzineArticles.com/?expert=Isla_Campbell http://EzineArticles.com/?What-Crisis?-Saving-Money-As-Normal&id=1565403
What Crisis? Saving Money As Normal
By [http://ezinearticles.com/?expert=Isla_Campbell]Isla Campbell
The current economic climate in the UK has been called 'arguably the worst' in the last 60 years. The resulting 'credit crunch' has affected thousands of businesses and perhaps more so, their employees. The public also have their own very justified feelings on the issue, with many concerned at the number of negative stories being presented by the media in recent times.
Recent studies have revealed that a healthy proportion of people in the UK are actually prepared for tough times ahead. It was estimated that, at the beginning of 2008, seven in ten British adults had some form of investments or savings, with 54 percent of the population holding deposit accounts and 34 percent with ISAs.
Many people with mortgages and credit cards, however, may be worried that they will feel the full force of the 'crunch', in the case that that their repayments will be tougher to afford. However, these forms of borrowing are actually essential to millions of people in the UK, with so few being able to afford an expensive investment like a house or car without acquiring some financial help and guidance.
For the proportion of the population who do borrow in some way, saving can still be an achievable target and repayments can be affordable with the right management. The results of the 2007 Annual Survey of Hours and Earnings (ASHE) displayed that the average full-time employee in the UK earns £457 per week. If part of this figure can be carefully utilised each pay day, individuals can avoid struggling with their finances.
Careful management is often advised to be the key - putting aside a regular amount of funds regardless of the circumstance is often seen to be the most effective way to both pay off debts and to build savings. And denying oneself expensive luxuries for a period will also make a significant difference, as will downgrading the car or even the house that is currently owned. If a pay rise occurs, it is often advised to save the extra cash rather than splash out. Overall, the target should be establishing a position where an individual controls their money, rather than spends without consideration.
To maintain a certain level of control of ones money, it is important to ensure the right type of savings are utilised. Getting the right advice is key, therefore, whatever method is used - opening a new current account, taking out an ISA or more effectively borrowing using the right tools to [http://www.moneynet.co.uk/credit-card/index.shtml]compare credit cards - the method can be tailored to each individual.
In doing this, it is important to ensure the advice received is trustworthy and unbiased. Essentially, saving is a habit to maintain so that there is always something to fall back on in the event of an unforeseen crisis,. Therefore, the consumer who wishes to save should have all the right information and support to allow them to prepare themselves, whatever state the economic climate is in.
Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
Article Source: http://EzineArticles.com/?expert=Isla_Campbell http://EzineArticles.com/?What-Crisis?-Saving-Money-As-Normal&id=1565403
Money Management 101!
This is the most important aspect of Forex trading! Nothing else even comes close. All the investment experts agree that with proper money management you don't even need a trading plan!
Money Management 101!
By [http://ezinearticles.com/?expert=Joshua_Geralds]Joshua Geralds
If you've been trading a while or have been reading up on trading then the term money management will be familiar to you. But money management in Forex trading is very different from money management else where.
Especially in currency trading money management takes the top spot for making or breaking an account! Just what exactly is money management you ask?
Well money management is a series of steps an experienced trader takes to protect the profits gained and to ensure that losses are minimized.
To give an example money management is the safety net for a trader to make profits.
For instance you are a day trader and you trade the 5 minute charts. So let's say on the average you make 10 trades a day. Now your daily tally should be the average score of all 10 trades. Thus you will have a daily pip profit and not base your success on individual trades
Money management is also concerned about position sizing. This is the way professional traders control their risks and returns for any given trade.
To learn and use position sizing is thankfully straight forward and simple. Take for instance you trade the Cable (Pound against US dollar). Each lot you trade is 100k how you can mitigate your risk is by breaking up the size of each lot you trade in.
By diversifying your lots you give yourself the flexibility to hedge your position should a trade turn against you. In that way you can position your trades in uncorrelated economies thus increasing the probability of a day profit. Money management in this way will serve to protect your account. Over here it is appropriate to touch on the compounding effect and how it works with money management. As you are aware a trader makes money by steadily growing his or her account. Steady growth for day traders do not mean a profit in each and every trade. But you have to ensure a profit every day. The worse position is a break even. When compounded and coupled with position sizing the trader grows his or her account.
Words of caution here do not expect to make every trade a winning trade. If you trade 10 times a day you have to expect to have 50% of your trades as failed trades.
If your edge is good and you have made a due study of the market, expect a failure rate of 35% and that's saying you're a very good trader already!
In conclusion let up recap on what money management is and what it can do for you. First money management is a process of controlling risk. Second it is a method of increasing profits. Third it is a way to discipline a trader. Fourth it is not a way for quick bucks. Fifth it will enable a small account to compound at the best rate possible and earn consistently. Lastly coupled with position sizing it gives to the trader flexibility to hedge their trades thus ensuring a daily profit. So make some money for yourself.
Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!
Article Source: http://EzineArticles.com/?expert=Joshua_Geralds [http://ezinearticles.com/?Money-Management-101!&id=1564884 ]http://EzineArticles.com/?Money-Management-101!&id=1564884
Money Management 101!
By [http://ezinearticles.com/?expert=Joshua_Geralds]Joshua Geralds
If you've been trading a while or have been reading up on trading then the term money management will be familiar to you. But money management in Forex trading is very different from money management else where.
Especially in currency trading money management takes the top spot for making or breaking an account! Just what exactly is money management you ask?
Well money management is a series of steps an experienced trader takes to protect the profits gained and to ensure that losses are minimized.
To give an example money management is the safety net for a trader to make profits.
For instance you are a day trader and you trade the 5 minute charts. So let's say on the average you make 10 trades a day. Now your daily tally should be the average score of all 10 trades. Thus you will have a daily pip profit and not base your success on individual trades
Money management is also concerned about position sizing. This is the way professional traders control their risks and returns for any given trade.
To learn and use position sizing is thankfully straight forward and simple. Take for instance you trade the Cable (Pound against US dollar). Each lot you trade is 100k how you can mitigate your risk is by breaking up the size of each lot you trade in.
By diversifying your lots you give yourself the flexibility to hedge your position should a trade turn against you. In that way you can position your trades in uncorrelated economies thus increasing the probability of a day profit. Money management in this way will serve to protect your account. Over here it is appropriate to touch on the compounding effect and how it works with money management. As you are aware a trader makes money by steadily growing his or her account. Steady growth for day traders do not mean a profit in each and every trade. But you have to ensure a profit every day. The worse position is a break even. When compounded and coupled with position sizing the trader grows his or her account.
Words of caution here do not expect to make every trade a winning trade. If you trade 10 times a day you have to expect to have 50% of your trades as failed trades.
If your edge is good and you have made a due study of the market, expect a failure rate of 35% and that's saying you're a very good trader already!
In conclusion let up recap on what money management is and what it can do for you. First money management is a process of controlling risk. Second it is a method of increasing profits. Third it is a way to discipline a trader. Fourth it is not a way for quick bucks. Fifth it will enable a small account to compound at the best rate possible and earn consistently. Lastly coupled with position sizing it gives to the trader flexibility to hedge their trades thus ensuring a daily profit. So make some money for yourself.
Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!
Article Source: http://EzineArticles.com/?expert=Joshua_Geralds [http://ezinearticles.com/?Money-Management-101!&id=1564884 ]http://EzineArticles.com/?Money-Management-101!&id=1564884
Capital One Banking - How Does Capital One Stack Up in the Banking Department?
Many people are familiar with Capital One Credit Cards, but Capital One Banking? How does this bank compare with their competitors? How are their interest rates? What services do they offer?
Capital One Banking - How Does Capital One Stack Up in the Banking Department?
By [http://ezinearticles.com/?expert=William_Perry]William Perry
Capital one banking is not the first thing that comes to mind when you think of capital one. You immediately think of credit cards, but many people aren't aware that capital one actually is a bank, and offers all the standard features that banks do, such as savings accounts, certificates of deposit, car loans, personal loans, etc.
Obviously, for some of these, you will need a relatively high credit score, but assuming you qualify, then capital one loans are certainly a worthy choice.
How do their services compare with other banks today? First of all, the interest rates on their saving accounts are very high, and can go as high as three and a half percent, as long as you have over ten thousand in there. Even if you don't, they are often times above three percent, a rarity in today's market.
For car loans, depending on your credit score, you can get them as low as five and a half percent, although this is the absolute lowest you can get (usually you will pay a bit more). Home loans start out at around six and a half percent.
For any of these features, they offer online calculators so that you can immediately see how much you can expect to pay per month, depending on your credit score, so you won't be taken by surprise.
You can also refinance your current mortgage with Capital One Banking, and do so at up to ninety five percent of your home's value. If you are unhappy with your current rate for whatever reason, this is certainly a nice feature to have available.
The best part is, you don't need ideal credit to accomplish this, as they are somewhat more lenient than many banks about this. Just use their online calculators to determine if switching to Capital One Banking is really worth it, as sometimes it will be, and sometimes it won't.
Finally, Capital One also offers debt consolidation if you have debt with more than one company, and all you do for this is merge all your debts into one payment at whatever rate you can get, pay them off, and they will handle the rest. These rates currently start out at six and a half percent, very competitive in the industry, and again, if your credit score is lower than ideal, you still might qualify.
Also, don't forget about capital one online banking, which is a very popular service and one that can really save you a lot of time instead of driving down to your local branch every time you want to deposit money.
Capital one banking is something I'd recommend, as you know they are a respected company around the nation, are on solid financial ground (not something that can be said for all banks nowadays) and therefore they would be a wise choice for you.
For more info on [http://www.onlinebankratings.com/capitalonebanking.htm]Capital One Banking, check out onlinebankratings.com. Also, if
you are a consumer looking for the best bank to do your banking with, this site reviews many of the larger, small, and online banks, such as [http://www.onlinebankratings.com/barclaysonlinebanking.htm]Barclays Online Banking, and much more.
Article Source: http://EzineArticles.com/?expert=William_Perry http://EzineArticles.com/?Capital-One-Banking---How-Does-Capital-One-Stack-Up-in-the-Banking-Department?&id=1565663
Capital One Banking - How Does Capital One Stack Up in the Banking Department?
By [http://ezinearticles.com/?expert=William_Perry]William Perry
Capital one banking is not the first thing that comes to mind when you think of capital one. You immediately think of credit cards, but many people aren't aware that capital one actually is a bank, and offers all the standard features that banks do, such as savings accounts, certificates of deposit, car loans, personal loans, etc.
Obviously, for some of these, you will need a relatively high credit score, but assuming you qualify, then capital one loans are certainly a worthy choice.
How do their services compare with other banks today? First of all, the interest rates on their saving accounts are very high, and can go as high as three and a half percent, as long as you have over ten thousand in there. Even if you don't, they are often times above three percent, a rarity in today's market.
For car loans, depending on your credit score, you can get them as low as five and a half percent, although this is the absolute lowest you can get (usually you will pay a bit more). Home loans start out at around six and a half percent.
For any of these features, they offer online calculators so that you can immediately see how much you can expect to pay per month, depending on your credit score, so you won't be taken by surprise.
You can also refinance your current mortgage with Capital One Banking, and do so at up to ninety five percent of your home's value. If you are unhappy with your current rate for whatever reason, this is certainly a nice feature to have available.
The best part is, you don't need ideal credit to accomplish this, as they are somewhat more lenient than many banks about this. Just use their online calculators to determine if switching to Capital One Banking is really worth it, as sometimes it will be, and sometimes it won't.
Finally, Capital One also offers debt consolidation if you have debt with more than one company, and all you do for this is merge all your debts into one payment at whatever rate you can get, pay them off, and they will handle the rest. These rates currently start out at six and a half percent, very competitive in the industry, and again, if your credit score is lower than ideal, you still might qualify.
Also, don't forget about capital one online banking, which is a very popular service and one that can really save you a lot of time instead of driving down to your local branch every time you want to deposit money.
Capital one banking is something I'd recommend, as you know they are a respected company around the nation, are on solid financial ground (not something that can be said for all banks nowadays) and therefore they would be a wise choice for you.
For more info on [http://www.onlinebankratings.com/capitalonebanking.htm]Capital One Banking, check out onlinebankratings.com. Also, if
you are a consumer looking for the best bank to do your banking with, this site reviews many of the larger, small, and online banks, such as [http://www.onlinebankratings.com/barclaysonlinebanking.htm]Barclays Online Banking, and much more.
Article Source: http://EzineArticles.com/?expert=William_Perry http://EzineArticles.com/?Capital-One-Banking---How-Does-Capital-One-Stack-Up-in-the-Banking-Department?&id=1565663
Financial Crisis - Dynamics and Causes
An financial crisis seems to occur with fairly regular intervals. Here you can read about the characteristics of an financial crisis and the reasons why such an event occurs.
Financial Crisis - Dynamics and Causes
By [http://ezinearticles.com/?expert=Knut_Holt]Knut Holt
A financial crisis has happened with regular intervals throughout the last century, it happens again in the year 2008, and probably will happen in the future in much the same way. There is no fundamental differences between such crises in our time and former crises, except perhaps that they occur faster, occur more frequently, but fortunately also heal faster.
THE TYPICAL SITUATION BEFORE THE CRISIS
The crisis often occurs after a long period of economic growth, high employment and high activity. The situation for companies and individuals are typically as follows:
- The economic activity in the whole society is very high after a long period of growth, but is beginning to decline.
- Stocks are traded for historically high quotes after a long period of rise of 300% or more, they have reached an all time high level, but they are beginning to decline again.
- The prizes of real estate properties are also high after a long period of growth, 300% or more, but they also are beginning to decline after an all time high level.
- Companies are often over-established after aggressive investments for borrowed money. The investments have not yet shown profitable, but the companies estimate great profits from the investments because they think the general growth will continue uninterruptedly.
- Also the average individuals have high debts after having invested massively in their homes and in luxury objects. They have some beginning problems with payment on their debts, but think these problems soon will go away with an anticipated further rises of personal income.
THE INITIAL STAGES OF THE CRISIS
The crisis usually has a slowly developing initial face. During this face the situation can reverse and the economy recover without great damages. In this initial period one can observe the following process:
- Steadily more companies realize that their massive investments do not pay back with the expected revenues and they have problems paying on their loans. They abruptly reduce further investments and begin selling off assets.
- Steadily more individuals also realize they have a too great debt to handle with their private income. They reduce their consume and sell off properties and luxury objects.
- Companies are getting steadily less orders, are selling less and have less to do because of reduced consume and investments.
- Earnings of companies and individuals are declining and many are downright loosing money.
- The stock market values are sharply declining, often 20-30%.
- The property prizes are sharply declining, often 20-30%.
THE FURTHER STAGES LEADING TO A FULL-BLOWN CRISIS
At some time there can be a critical turning point leading into the development of a full blown crisis that it is impossible to recover from in an easy way. This turning point occurs when a certain percentage, for example 10%, of individuals and companies realize that they do not have enough income to handle their debt, and that sell-off of properties and stocks will not nullify the debt. The full-blown crisis has these properties:
- The activity and earnings of companies are abruptly declining.
- Many companies experience massive losses.
- The number of companies and individuals with debt trouble is abruptly rising.
- The number of bankruptcies is abruptly rising.
- The unemployment level rises abruptly.
- Banks get into serious squeeze due to customers unable to pay on their debts and due to the decline in the value of properties serving as security for the loans.
- The troubled banks have to rise the interest rates by many percent to counteract the losses. But this act only increases the problems for other banks, individuals and companies and accelerates the crisis.
- A high percentage of the banks get nonfunctional and bankrupt.
- Now there will be massive sell-offs of properties and stocks. The sell-offs are exerted by individuals trying to free themselves from some of their debts and by banks trying to stop losses on loans.
- The stock market cracks down by an new 50% or more driven by the massive sell-offs.
- The real estate market also cracks down a new 50% or more due to massive sell-offs, but usually somewhat slower than the stock market.
THE CHARACTERISTICS OF AN ULTIMATE CRISIS
The ultimate stage of the crisis is seldom reached, because the governments will at some point take control of the financial systems and secure a minimum functionality.
In the ultimate crisis the production of goods and services in the society has fallen 30% or more and continue to fall. Investments or building activities have totally halted. There is mass unemployment, 30% or more.
The financial system has nearly totally collapsed, and is only able to support the daily payment for food, energy and other necessities. The production facilities and organizations of the society have fallen apart 30% or more due to lack of maintenance, which means that the society is not able to recover in a short time.
THE END OF THE CRISIS
Before the crisis can end, all sell-offs to pay back on loans must be fulfilled. Then every actor in the society has to accept their losses. Debts that actors are not able to pay back must in some way be nullified. Then all the pieces remaining of the former companies must be fixed together again into new functional units. Then the society can slowly rebuild its strength.
THE CAUSES OF THE CRISIS
An important cause of the crisis are over-optimistic companies and individuals during the foregoing period of economic growth. They tend to believe that the general growth will continue forever without interrupting periods of economic decline. They also tend to overestimate themselves and think they will be a winner in the competition against other companies or persons, not a looser, not an average performer, but the winner.
This optimism, which is a general human property, make all actors borrow massive amounts of capital and invest them in homes, luxury objects and expansion of their business. This expansive behaviour tend to accelerate for quite a long time until in meets the wall.
Another cause are executives in banking companies tempted to lend out as much money as possible to the borrowers, regardless of the consequences for the bank and the borrowers, because this behaviour gives the executives an enormous short term personal gain.
HOW TO AVOID FINANCIAL CRISES
Future crises can only be prevented by hindering financial institution lending out more money to anyone that the borrowers can pay back in a comfortable way. This can only be done by governmental regulations that set clear criteria that must be fulfilled when a certain amount of money is lent out.
Also banks must be forbidden to establish employment contracts for their executives that reward them directly for the amount of mortgages they establish.
Knut Holt is an internet marketer and consultant focusing at technical, health and scientific items. To find items like car equipment, remote control models, airsoft guns, chemistry sets, electronic kits and components, microscopes, binoculars, night vision instruments, music instruments, computers, PDAs and more: --- http://www.mydeltapi.com
For health advices, body products, fitness products and products to treat diseases, please visit: http://www.abicana.com
Article Source: http://EzineArticles.com/?expert=Knut_Holt http://EzineArticles.com/?Financial-Crisis---Dynamics-and-Causes&id=1566728
Financial Crisis - Dynamics and Causes
By [http://ezinearticles.com/?expert=Knut_Holt]Knut Holt
A financial crisis has happened with regular intervals throughout the last century, it happens again in the year 2008, and probably will happen in the future in much the same way. There is no fundamental differences between such crises in our time and former crises, except perhaps that they occur faster, occur more frequently, but fortunately also heal faster.
THE TYPICAL SITUATION BEFORE THE CRISIS
The crisis often occurs after a long period of economic growth, high employment and high activity. The situation for companies and individuals are typically as follows:
- The economic activity in the whole society is very high after a long period of growth, but is beginning to decline.
- Stocks are traded for historically high quotes after a long period of rise of 300% or more, they have reached an all time high level, but they are beginning to decline again.
- The prizes of real estate properties are also high after a long period of growth, 300% or more, but they also are beginning to decline after an all time high level.
- Companies are often over-established after aggressive investments for borrowed money. The investments have not yet shown profitable, but the companies estimate great profits from the investments because they think the general growth will continue uninterruptedly.
- Also the average individuals have high debts after having invested massively in their homes and in luxury objects. They have some beginning problems with payment on their debts, but think these problems soon will go away with an anticipated further rises of personal income.
THE INITIAL STAGES OF THE CRISIS
The crisis usually has a slowly developing initial face. During this face the situation can reverse and the economy recover without great damages. In this initial period one can observe the following process:
- Steadily more companies realize that their massive investments do not pay back with the expected revenues and they have problems paying on their loans. They abruptly reduce further investments and begin selling off assets.
- Steadily more individuals also realize they have a too great debt to handle with their private income. They reduce their consume and sell off properties and luxury objects.
- Companies are getting steadily less orders, are selling less and have less to do because of reduced consume and investments.
- Earnings of companies and individuals are declining and many are downright loosing money.
- The stock market values are sharply declining, often 20-30%.
- The property prizes are sharply declining, often 20-30%.
THE FURTHER STAGES LEADING TO A FULL-BLOWN CRISIS
At some time there can be a critical turning point leading into the development of a full blown crisis that it is impossible to recover from in an easy way. This turning point occurs when a certain percentage, for example 10%, of individuals and companies realize that they do not have enough income to handle their debt, and that sell-off of properties and stocks will not nullify the debt. The full-blown crisis has these properties:
- The activity and earnings of companies are abruptly declining.
- Many companies experience massive losses.
- The number of companies and individuals with debt trouble is abruptly rising.
- The number of bankruptcies is abruptly rising.
- The unemployment level rises abruptly.
- Banks get into serious squeeze due to customers unable to pay on their debts and due to the decline in the value of properties serving as security for the loans.
- The troubled banks have to rise the interest rates by many percent to counteract the losses. But this act only increases the problems for other banks, individuals and companies and accelerates the crisis.
- A high percentage of the banks get nonfunctional and bankrupt.
- Now there will be massive sell-offs of properties and stocks. The sell-offs are exerted by individuals trying to free themselves from some of their debts and by banks trying to stop losses on loans.
- The stock market cracks down by an new 50% or more driven by the massive sell-offs.
- The real estate market also cracks down a new 50% or more due to massive sell-offs, but usually somewhat slower than the stock market.
THE CHARACTERISTICS OF AN ULTIMATE CRISIS
The ultimate stage of the crisis is seldom reached, because the governments will at some point take control of the financial systems and secure a minimum functionality.
In the ultimate crisis the production of goods and services in the society has fallen 30% or more and continue to fall. Investments or building activities have totally halted. There is mass unemployment, 30% or more.
The financial system has nearly totally collapsed, and is only able to support the daily payment for food, energy and other necessities. The production facilities and organizations of the society have fallen apart 30% or more due to lack of maintenance, which means that the society is not able to recover in a short time.
THE END OF THE CRISIS
Before the crisis can end, all sell-offs to pay back on loans must be fulfilled. Then every actor in the society has to accept their losses. Debts that actors are not able to pay back must in some way be nullified. Then all the pieces remaining of the former companies must be fixed together again into new functional units. Then the society can slowly rebuild its strength.
THE CAUSES OF THE CRISIS
An important cause of the crisis are over-optimistic companies and individuals during the foregoing period of economic growth. They tend to believe that the general growth will continue forever without interrupting periods of economic decline. They also tend to overestimate themselves and think they will be a winner in the competition against other companies or persons, not a looser, not an average performer, but the winner.
This optimism, which is a general human property, make all actors borrow massive amounts of capital and invest them in homes, luxury objects and expansion of their business. This expansive behaviour tend to accelerate for quite a long time until in meets the wall.
Another cause are executives in banking companies tempted to lend out as much money as possible to the borrowers, regardless of the consequences for the bank and the borrowers, because this behaviour gives the executives an enormous short term personal gain.
HOW TO AVOID FINANCIAL CRISES
Future crises can only be prevented by hindering financial institution lending out more money to anyone that the borrowers can pay back in a comfortable way. This can only be done by governmental regulations that set clear criteria that must be fulfilled when a certain amount of money is lent out.
Also banks must be forbidden to establish employment contracts for their executives that reward them directly for the amount of mortgages they establish.
Knut Holt is an internet marketer and consultant focusing at technical, health and scientific items. To find items like car equipment, remote control models, airsoft guns, chemistry sets, electronic kits and components, microscopes, binoculars, night vision instruments, music instruments, computers, PDAs and more: --- http://www.mydeltapi.com
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Article Source: http://EzineArticles.com/?expert=Knut_Holt http://EzineArticles.com/?Financial-Crisis---Dynamics-and-Causes&id=1566728
Five Simple Ways to Spend Less
Cutting your spending isn't as complicated as it seems. Making smart choices day-to-day can help you save big bucks over time.
Five Simple Ways to Spend Less
By [http://ezinearticles.com/?expert=Ki_Gray]Ki Gray
Budgeting and living within your means is often perceived as a difficult, daunting task. In reality, there are plenty of simple ways to trim your budget all they require is a little time and effort.
1. Pack your lunch.
Instead of spending upwards of $40 - $50 a week eating out, take your lunch with you to work. Even if you go out for relatively cheap meals, the total cost (plus tax and tip) adds up quickly. A great way to do this is to cook double or triple the amount you'll need for dinner the night before, and set lunch portions aside ahead of time.
Another way you can simplify the entire process is to cook a large amount of food over the weekend say 8-10 chicken breasts, a big lasagna or pasta dish, for example and portion it out for lunches and dinners throughout the week. If you're pressed for time and don't have anything prepared, head to your local supermarket and pick up a few microwavable meals and other healthy items like single-serving-size frozen vegetables or fruit packs. This option is a bit pricier than cooking from scratch, but still much cheaper than eating out every day.
2. Hand-wash your car.
Skip the $5 - $10 drive through car wash and soap up your car yourself. It may take a bit longer than the drive through option, or it may not, depending on how far you have to drive to get to the car wash in the first place. Regardless, washing your car yourself can save you $30-plus per month. If that doesn't sound like much, think of it this way: it adds up to about $150 per year.
3. Take a walk.
Next time you need to run to the corner store, to drop off your child at soccer practice a few blocks away, or to pick up a couple of items at your neighborhood grocer, skip the car and make the short trip on foot. You'll conserve gasoline which is good for both your budget and the environment and you'll be doing something healthy for yourself. It's a win-win situation.
4. Enjoy the outdoors.
Next time you're looking for a fun family activity, skip the movie theater or other venue in favor of the great outdoors. Most cities and towns have a wealth of public parks, complete with jungle gym equipment, swings, shade trees and sunshine everything you need for a fun afternoon of quality time with your family. And it's free!
5. Check out consignment.
Looking for a new top, bag, or shoes? Head to your local consignment shop instead of the mall odds are you'll find great deals on quality items (though you may have to do a little digging). Many cities have upscale consignment shops, too, offering designer items at a steal of a price. And next time you clean out your closet, make a pile of your best give-away items and take them to the consignment shop instead of Goodwill. You may just pad your wallet with some extra cash. If the items don't sell, you can opt to pick them up after a set period of time (usually about three months) or have them donated for you.
Escapeso Real Estate operates in Austin Texas. They help people interested in the [http://www.escapesomewhere.com]Austin real estate market. Their site has a free mortgage calculator along with updated stats on the Austin real estate market and a search of the [http://www.escapesomewhere.com/realestate_searchthemls.html]Austin MLS.
Article Source: http://EzineArticles.com/?expert=Ki_Gray http://EzineArticles.com/?Five-Simple-Ways-to-Spend-Less&id=1568125
Five Simple Ways to Spend Less
By [http://ezinearticles.com/?expert=Ki_Gray]Ki Gray
Budgeting and living within your means is often perceived as a difficult, daunting task. In reality, there are plenty of simple ways to trim your budget all they require is a little time and effort.
1. Pack your lunch.
Instead of spending upwards of $40 - $50 a week eating out, take your lunch with you to work. Even if you go out for relatively cheap meals, the total cost (plus tax and tip) adds up quickly. A great way to do this is to cook double or triple the amount you'll need for dinner the night before, and set lunch portions aside ahead of time.
Another way you can simplify the entire process is to cook a large amount of food over the weekend say 8-10 chicken breasts, a big lasagna or pasta dish, for example and portion it out for lunches and dinners throughout the week. If you're pressed for time and don't have anything prepared, head to your local supermarket and pick up a few microwavable meals and other healthy items like single-serving-size frozen vegetables or fruit packs. This option is a bit pricier than cooking from scratch, but still much cheaper than eating out every day.
2. Hand-wash your car.
Skip the $5 - $10 drive through car wash and soap up your car yourself. It may take a bit longer than the drive through option, or it may not, depending on how far you have to drive to get to the car wash in the first place. Regardless, washing your car yourself can save you $30-plus per month. If that doesn't sound like much, think of it this way: it adds up to about $150 per year.
3. Take a walk.
Next time you need to run to the corner store, to drop off your child at soccer practice a few blocks away, or to pick up a couple of items at your neighborhood grocer, skip the car and make the short trip on foot. You'll conserve gasoline which is good for both your budget and the environment and you'll be doing something healthy for yourself. It's a win-win situation.
4. Enjoy the outdoors.
Next time you're looking for a fun family activity, skip the movie theater or other venue in favor of the great outdoors. Most cities and towns have a wealth of public parks, complete with jungle gym equipment, swings, shade trees and sunshine everything you need for a fun afternoon of quality time with your family. And it's free!
5. Check out consignment.
Looking for a new top, bag, or shoes? Head to your local consignment shop instead of the mall odds are you'll find great deals on quality items (though you may have to do a little digging). Many cities have upscale consignment shops, too, offering designer items at a steal of a price. And next time you clean out your closet, make a pile of your best give-away items and take them to the consignment shop instead of Goodwill. You may just pad your wallet with some extra cash. If the items don't sell, you can opt to pick them up after a set period of time (usually about three months) or have them donated for you.
Escapeso Real Estate operates in Austin Texas. They help people interested in the [http://www.escapesomewhere.com]Austin real estate market. Their site has a free mortgage calculator along with updated stats on the Austin real estate market and a search of the [http://www.escapesomewhere.com/realestate_searchthemls.html]Austin MLS.
Article Source: http://EzineArticles.com/?expert=Ki_Gray http://EzineArticles.com/?Five-Simple-Ways-to-Spend-Less&id=1568125
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