 Category :: Personal Finance Articles |
Author :: Francis Kier  |
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| Article Title :: The Threshold between the Creation and Destruction of Wealth |
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| Wealth is simply the accumulation of money, and it can only be created by the amount of money that is received and never spent. If you want to build wealth, then anytime you receive money: don’t spend all of it. Sure it is a very simple concept, but it is very difficult to continually achieve. Luckily there are readily available allies to help you: find some compelling reasons to start saving, build it into a habit, watch the results of your efforts build, and set some financial milestones to reward yourself.Setting aside a percentage of any money that you receive is the best method to follow through and build the habit of saving money. There are a few misers among us who find sa (read full article) |
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| Category :: Personal Finance Articles |
Author :: Michael Hanna |
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| Article Title :: UK Consumers Regaining Control of Runaway Levels of Personal Debt |
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| The UK in recent years has seen a massive growth in the levels of personal debt and thanks to increases in secured loans corresponding to a strengthening of the housing market; it does not appear to be slowing down. Recent figures from Creditaction show that since the end of 1993, when debt levels were around the £400bn level, they have now risen to an astounding £1148bn, and it is growing at a rate of 10.2% per annum, or £100bn over the last year alone.Mortgage loans currently make up about 83% of the total personal debt level following a 10.3% (£956.3bn) increase over the past year. Both the Bank of England and the Royal Institution of Chartered Surveyors (RICS) have report (read full article) |
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| Category :: Personal Finance Articles |
Author :: Michael Russell |
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| Article Title :: Money Management And Paying The Bills |
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| In this article we're going to discuss money management and how it applies to paying bills.A lot of people might think that money management and paying bills is a contradiction in terms, and in a sense it is. The truth is, if you have a bill that has to be paid then it has to be paid, money or not.However, having said that, there are things you can do with managing your money to give yourself the best chance of paying those bills. It just takes a little bit of thought and a lot of discipline.To start with, if you have a steady job that is half the battle right there. Good salary or bad, at least you know each month what you're going to be bringing home. From there (read full article) |
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| Category :: Personal Finance Articles |
Author :: Michael Russell |
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| Article Title :: Money Management for the Home |
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| It's a sad fact that most of us don't have as much money as we'd like to spend on things we really want. However, spending your hard earned cash on credit card charges and bank overdraft fees is just plain madness so some caution is needed and, more to the point, some planning.When I was barely earning enough to cover my living expenses, I used to watch my bank balance like a hawk and I used an Excel spreadsheet to calculate my spending for each month.This is how it looked:Column A was a list of all my outgoings. I started with the ones which were fixed (if only until the next price rise) e.g. the mortgage, insurances, pension contributions, etc. Then I estimated t (read full article) |
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| Category :: Personal Finance Articles |
Author :: John Wagner |
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| Article Title :: Save Thousands Each Year With One Simple Step |
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| Each year it seems that banks make record profits. The profits earned by major banks don’t get returned to the customer but get returned to the bank’s shareholders instead. The management of banks wants to provide a positive return to their shareholders. To get this return, they charge their customers in a variety of ways for the services they provide. Interest on loans and fees on a variety of services are two of the primary ways banks earn money.Banks use sophisticated financial models and employ very bright people to decide the proper rates to charge on their loans. Their objective is to charge a rate high enough to maximize their interest margin (the difference between (read full article) |
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| Category :: Personal Finance Articles |
Author :: Eddie Tobey |
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| Article Title :: Banking |
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| The word ‘bank’ is derived from the Italian word ‘banca’, which is derived from the German word for ‘bench’. Moneylenders in Northern Italy originally did business in open areas or open rooms where each lender worked from his own bench or table. The very first banks were probably in religious temples of the ancient world. Greek temples as well as private and civic entities conducted financial transactions such as loans, deposits, currency exchange, and the validation of coinage. Charging interest on loans and paying interest on deposits developed in ancient Rome.A bank is a financial institution that provides banking services such as accepting deposits and making loans. (read full article) |
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| Category :: Personal Finance Articles |
Author :: Eddie Tobey |
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| Article Title :: Banking Services |
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| The type of services offered by a bank depends upon the nature of the bank and the country where the bank operates. The services provided by banks usually include checking accounts, saving accounts, and investment advice.The main function of most banks is directly accepting deposits from the general public and providing check facilities for withdrawal purposes. The provision of the check facilities differentiates banks from other financial institutions.Lending money to companies, individuals, the government, and other financial institutions is the second major activity of all types of banks. Banks play a vital role in the capital formation of a country through saving and inv (read full article) |
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| Category :: Personal Finance Articles |
Author :: Eddie Tobey |
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| Article Title :: Commercial Banking |
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| A commercial bank's primary liabilities are deposits and primary assets are loans and bonds. As per the U.S. Banking Act of 1971, the "commercial bank" is an institution that offers demand deposits and originates loans. Therefore, a money market mutual fund is not a commercial bank as it does not originate loans. Similarly a finance company is also not a commercial bank as it does not offer demandable deposits. The term "commercial" distinguishes a commercial bank from an investment bank.Its primary liabilities are deposits and primary assets are loans and bonds. As per the U.S. Banking Act of 1971, the "commercial bank" is an institution that offers demand deposits and origina (read full article) |
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| Category :: Personal Finance Articles |
Author :: Eddie Tobey |
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| Article Title :: Investment Banking |
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| Investment banks, as opposed to commercial banks, assist public and private corporations in raising funds in the Capital Markets (both equity and debt), as well as in providing strategic advisory services for mergers, acquisitions and other types of financial transactions.Indeed the original purpose of an investment bank was to raise capital and advise on mergers and acquisitions and other corporate financial strategies. As banking firms have been performing diversified activities, investment banks have come to fill a variety of roles including underwriting and distributing new security issues, offering brokerage services to public & institutional investors, providing financial adv (read full article) |
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| Category :: Personal Finance Articles |
Author :: Eddie Tobey |
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| Article Title :: Offshore Banking |
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| An offshore bank is a bank located outside the country of residence of the depositor in a low- or no- tax jurisdiction. It provides financial and legal advantages like privacy, reduced legal restrictions, and protection against local political or financial instability. Offshore banking has increased rapidly all over the world since mid-1960s because of the growth and liquidity of Eurocurrency markets.The full spectrum of financial services from offshore banks include deposit taking, credit, money transmissions, provision of foreign exchange, letters of credit and trade finance, investment custody, investment management, fund management, trustee services, and corporate administratio (read full article) |
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