Most of us don't think enough about our savings accounts. That could be because, chances are, as soon as your money goes in every month, it just as soon comes back out to be spent on bills, food and shopping - as well as whatever else has cropped up during the month that needs to be added to the budget. Of course, you don't want to think about money because of the stress it can provide.
Savings accounts come in a number of different shapes and sizes and offer varying degrees of flexibility and high interest returns accordingly. With so many options, it pays to shop around to make sure that you're receiving the best return for your money; however, you may also find it beneficial to determine the best use for your money before depositing a lump sum in one account.
A survey by the Citizens Advice Bureaux (CAB), published in September 2005 found that 85 per cent of those that had tried to use their PPI policy had been unsuccessful and had their request rejected. Although perhaps not typical or representative of the wider picture the CAB findings make salutary reading. Mrs T from London stated that she was advised to take out insurance when she took out a loan.
Is now the right time for raising equity, or selling a company? The prevailing wisdom is that in times of depressed stock markets and equity valuations, it is a bad time to raise equity or sell a company. There is some truth to this, as there is an extremely high probability that a given company is worth less today than a year or two ago. Nevertheless, there are at least three specific circumstances where company owners would be well advised to consider such a transaction: 1.
The experts have a difference of opinion when it comes to saving money by trading in your old banger for a new car just because you can get an extra 2, 000 off a new car. The main reason for this government incentive is to increase car sales and to boost the economic situation in the UK. The car industry has been hit badly by the downturn in the economy.
Getting your finances in order before you take an overseas job is something you need to do now rather than after you get there. When you are already overseas the cost of making a call back to your home country can cost a lot of money. Wiring money can be a hassle if you do not already know the time it will take and the process you will have to go through when you cannot go to one of their branch offices.
"In a recent column you said that it was possible for persons to learn how to be financially literate. I am tired of always being low on funds and big in debt. What are some of the things that I should be doing in order to be successful with money?" Being smart with money is not hard once you learn and start practising some basic financial principles.
Though the price of gold was last over a $1, 000 per ounce a year ago, there are strong indications that it will approach that milestone again. This brings up the question, in a tough economy, where can you sell your gold and feel confident that you will get true value for it. How much is your gold worth? Though there are many outlets to sell your gold, you must be very careful who you trust to assure an honest return.
A very useful type of credit card is the airline mileage credit card. In summary, these type of credit cards offer you rewards in the form of frequent flier miles for the money you spend with the card. As with any type of financial product, there are different types with each having specific advantages and drawbacks. One benefit of a this type of card is that you get points for both the dollars you spend and the miles you fly (when a flight is purchased with the card).
Pay yourself first! ! This is very important. You are your first source of capital to generate investment income. For most of us, our capital comes mostly from some form of active income such as our salary, allowances, bonuses and other sidelines. You need to set aside a portion of this amount to be dedicated to savings that will generate investment income.