Personal Finance guide

Some people save to buy a new home or to improve the one they already have. Others save to go on holidays and some people save simply because they like to have money set aside for any unexpected costs and occurrences.

It is all very well saying you need to save money but it is equally important to know how to go about this feat.

In order to save you need to set yourself a budget and make sure that you take everything into account. It might be best to work from a previous month’s bank statement to make sure that you remember to include everything. Continue reading ‘The Key to Salubrious Savings’ »

Close your eyes for a moment and picture yourself enjoying your ideal retirement. Perhaps you’re standing on the deck of your new houseboat. Or strolling through the streets of Europe. Or reading ‘Grisham” on the back porch, listening to the sounds on the stereo playing songs from years past.

More than likely, your actual retirement will look quite different from the way you’re imagining it. For one thing, the music playing on your stereo is more likely to be on your virtual reality headset – because you’ll probably retire a lot later than you think. If, that is, you retire early at all in the traditional sense of the word. Continue reading ‘Helping Others to Retire Early, The Savings Highway Shows You How’ »

Bloomington, Ind. (PRWEB) February 16, 2009 — iUniverse (www.iuniverse.com), the leading book marketing, editorial services, and supported self publishing (http://www.iuniverse.com/Why-IUniverse.aspx) company, is offering authors a carnival of savings this Mardi Gras when they commit to publish a book (http://www.iuniverse.com/Packages/PackageCompare.aspx) by the end of the month. Through Feb. 28, authors purchasing the following iUniverse publishing packages are rewarded the corresponding savings:

• Bookstore Premier Pro Publishing Package purchasers choose to: save $300 off the regular price (Promo code: 300BPRE0209); OR receive 60 free books–40 bonus copies in addition to the 20 included in the package (Promo code: 40BOOKS0209).

• Premier Pro Publishing Package purchasers choose to: save $200 off the regular price (Promo code: 200PRO0209); OR receive 60 free books–40 bonus copies in addition to the 20 included in the package (Promo code: 40BOOKS0209).

• Premier Publishing Package purchasers choose to: save $150 off the regular price (Promo code: 150PRE0209); OR receive 30 free books–20 bonus copies in addition to the 10 included in the package (Promo code: 20BOOKS0209).

• Select Publishing Package purchasers choose to: save $100 off the regular price (Promo code: 100SEL0209); OR receive 15 free books–10 bonus copies in addition to the five included in the package (10BOOKS0209).

To take advantage of this special promotion, authors must purchase a publishing package online and enter the promotional code by midnight ET on Feb. 28. Authors whose manuscripts are not completed, but who still wish to take advantage of these savings, can purchase a publishing package now and submit their manuscript later.

For more information on the Carnival of Savings Special and to begin publishing your book today, call 1-800-AUTHORS or log on to iUniverse.com.

Continue reading ‘iUniverse Celebrates Mardi Gras by Giving Authors a Carnival of Savings’ »

Gone are the days when banks – and bank accounts – generally extended the same set of features. Instead, any given bank today usually offers a wide range of bank accounts for customers to choose from, with selections varying significantly from one bank to the next. Thus, consumers are able to select a bank account that caters to all their financial needs.

However, the sheer number of banks and types of bank accounts out there can also make the process of choosing an account seem overwhelming. So it’s best to break the process down into easier steps. To begin, you’ll need to choose a bank. Many people have either done business with banks before or currently have some type of account open with a local bank. If you already know which bank you want to open your account with, a large part of the work is already done. However, if you need to choose a bank, it’s best to do a bit of research first.

Start off by choosing a handful of banks in your area that you might want to bank with – then proceed to researching each of them further. You’ll initially want to consider aspects like locality and the number of branches in your area, extent of banking services, and customer service ratings – information that can all be gathered via online research or word-of-mouth. If you ultimately find you’re interested in multiple banks after your initial research, you can then start looking into each bank’s services and account types in more detail to choose the bank that’s right for you.

Continue reading ‘Finding a Bank Account that Caters to your Financial Needs’ »

The news that Yorkshire Building Society are in merger talks with the Chelsea Building Society is no real surprise. It has been rumoured for quite some time that the Yorkshire has been looking for suitable targets to “merge” with. If it all goes ahead it would create the third biggest mutual society with impressive assets of £40billion and a customer base of 2.65million members.

Chelsea have been left like a sitting duck as they have had to deal with their exposure to the Icelandic banking collapse which is estimated at £44million, as well as the well publicised fraud in their buy to let mortgage business which has been estimated at £41million. It was more a question of who and when, not if, they would be taken over.

Continue reading ‘Society and Chelsea Building Society announce they are in merger talks’ »

Securitization began in India in the early nineties. CRISIL rated the first securitization programme in 1991-92 when Citibank securitized a pool from its auto-loan portfolio and placed the paper with GIC Mutual Fund. The market for ABS has been stagnant largely for want of a suitable enabling regulatory framework. In the Indian context, the benefits that securitization can bring about can be quite noteworthy .The following merit contemplation in this regard. In a capital-short economy, an opportunity that permits effective use of available capital hardly requires any major emphasis. In addition, the ability to diversify one’s funding base by reaching out to new investor markets, without increasing the financial leverage, which may otherwise have regulatory implications in some cases, is also of definite value. Obtaining harmonized funding most important to effective balance sheet management is particularly noteworthy from commercial banks’ perspective. Reallocating risks in a planned and transparent manner helps in managing them better. Originators would also stand to benefit on account of promising gains that would accrue in the form of improvements in their credit and operating processes, as these come under detailed scrutiny.

Credit history of the Indian banking system indicates that substantial volumes of ABS of credit quality consistent with the rating compulsorily available. This would ensure continuous supply of assets that can be tailored to meet the credit appetites of investors. Institutional investors may not only benefit from such tailored issuances, but also may have access to invest into otherwise illiquid assets at superior yields without compromising on their credit standards.

According to John Henderson & Jonathon Scott, “securitization is defined as the progression which takes place when a lending institution’s assets are removed in one way or the other from its balance sheet and are funded instead by the investors who purchase a negotiable financial gadget evidencing this indebt ness, without recourse to the unusual lender”.

The securitization process would upgrade the level of sophistication of banking and finance in the country in the long run. This, combined with an appropriate regulatory framework, can make securitization an important catalyst in mobilizing domestic savings as well as attracting foreign capital, which can be of mammoth value, particularly in the context of capital requirements to develop the country’s infrastructure sector. Securitizing project finance, telecom, toll road and other similar receivables could well become reality in the medium term future.

Continue reading ‘SECURITISATION- SOME THOUGHTS’ »

Ever wondered why there are numerous articles written about women and money management. The reason is working women find themselves in unique situations – home maker, mother, caring for the elderly. Working women experience greater disruption in earnings in their life as they take career breaks for different reasons – relocation due to marriage, to raise children, tend to their elders or accommodate family contingencies et al. Statistically it is found that women generally spend seven years out of the work force to have and raise children. In the long term however, such disruptions hurt the family’s wealth creation and though a woman and a man may have started their careers at the same time, she ends up earning far less when they both retire.

Also, studies across the globe show that periodic income disruptions make women risk-averse. This means that they invest in lower-risk and fixed-income investment options such as fixed deposits and bonds for fear of losing money due to factors such as stock market fluctuations. The outcome of the preference for fixed-income assets is obvious. The woman’s savings will not suffice in her old age, and she’ll have to depend on the retirement funds of her husband, or other sources. And then there is the reality of a divorce which can be even more painful for dependent spouses. Regardless of how modern the majority claim to be, studies indicate that they lag significantly behind in one area compared to their male counterparts – that area is financial planning. Most women leave the management of their finances to their fathers/husbands. Failure of marriage, unequal inheritance of wealth, non avoidance of old age, etc all the more necessitates us to be self reliant.

However, taking into consideration the above factors, women need to have a holistic financial plan, that too from a very early age in order to make good the time lost in such career breaks . In the current scenario, personal empowerment and financial independence are the need of the hour. After all financial independence is true empowerment. You know you are empowered when you do not need anyone to tell you how to live your life or spend your money. Also, whether or not a woman has her own income, she still needs to know how her family’s money is invested. Therefore, all women need to step up and learn how to play with the boys. There is no longer a justification for you to not participate in the financial planning that will lend itself to your future.

The following are money management tips (though not exhaustive) which will help women mange their finances better:

Continue reading ‘Money Management Tips For Working Women’ »

In order to provide you with financial security, it’s important to have some form of bank savings. Whether you can afford to set aside just a few pounds a month or a few hundred, it’s smart to start saving as early as possible. Having savings can also be a great way to deal with any financial emergencies that crop up or to buy items you can’t normally afford.

There are countless deals in the marketplace all offering people the chance to maximise their savings. However, in order to choose the right one, it’s worthwhile considering the interest rate and the type of savings account that’s right for your needs. Indeed, while a high rate of interest is desirable, you must also think about why you want to save and what sort of monetary access you need.

For example, if you know that you generally don’t have a lot of cash left after your monthly outgoings, and can therefore only afford to save a small amount, then an easy access account is probably the most effective one for your needs. In addition to having no set limits on how much and when you save, you can also gain quick access to your money.

Continue reading ‘The Importance of Finding the Right Savings Account’ »

Today more and more people search for a solution to their financial problems. As the financial crisis affects most of us, various banks and financial institutions had to come up with debt relief measures to help those unable to pay their debt due to job loss or other unfortunate events. If you’re also looking for a way to stop going into an even deeper financial crisis and an even deeper debt, you can now take advantage of a debt settlement plan; there are many c debt settlement companies and many debt settlement plans you can now choose from.

Of course all debt companies came into existence in order to help us carry the burden of our debt, but not all debt settlement companies are equal. Therefore, when choosing a debt settlement company you should pay attention to a few key aspects based on which you can better decide what’s best for you and which debt settlement company is more likely to give you a fair treatment and a good solution to your financial problems.

First and foremost you should always go for the company that offers free of charge consultation. If the company offer free professional consultation they are more likely to offer a good solution and an honest treatment. Fee consultation is a good way to gain peoples trust and make a good name for the company if you can get free advice and counseling the company probably knows you will like their services and you’ll stay with them.

Continue reading ‘Get The Help You Need To Overcome All Financial Problems’ »

Women are no longer just a powerful force in today’s economy. It is estimated over 60% of the nation’s wealth is controlled by women. Some may have inherited wealth and may or may not be employed. Some are corporate executives, entrepreneurs or middle management. They may be single, married or divorced. They may or may not have children. A woman’s financial situation is often unique, and an individual approach to financial planning is essential. However, areas of common concern do exist.

Many women work outside the home. If so, they may have income tax problems, especially if they face higher taxes because they are single and unable to file a joint return. To address these problems, women should consider the following areas: the role of tax-advantaged investments to reduce their tax burden; the taxation and treatment of executive perks from their employer; the effect of age-related tax and Social Security provisions; and the tax problems of a small business including choice of organization, the selection of a retirement plan and the taxes upon disposition of their business interest.

Closely related to income tax planning for women is investment planning. Investment selection and asset allocation involve much more than tax considerations. There are various questions women should consider. Do investment objectives line up with financial resources and needs? Is the investment advice they are receiving objective, reliable and in line with their goals, time horizon and risk tolerance? Will a trust help with their investment planning? Women who are too busy or unable to oversee the day-to-day management of their investments should consider a trust. A trust may provide the comfort that comes with knowing that financial affairs will be properly handled in all eventualities.

Estate planning, like tax and investment planning, depends on individual circumstances. Whether a woman has built her own estate through work investments, or a business, or whether a woman has inherited a husband’s estate is irrelevant. What matters is that she is aware of the estate planning options that are available. Unmarried or widowed, a single woman might use lifetime gifts to reduce her estate tax burden by using the gift tax annual exclusion and lifetime unified credit. Trusts may also be useful in a program of lifetime gifts, particularly where minor children or grandchildren are involved. Estate plan coordination, charitable contributions and life insurance can also be extremely important toward achieving estate planning goals.

Continue reading ‘FINANCIAL PLANNING FOR WOMEN’ »