Money Management

Short and Long Term Savings

moneyman — Thu, 13 Dec 2007 10:44:58 +0000

Short-Term Savings Accounts â€“

It is a very good idea to keep at least a little bit of money in a savings account, especially one which you can easily access when you need it, just in case of an emergency or the need for a sudden expenditure.

Reasons that you might benefit from opening a short term savings account over a long term account:

- You may need to spend money quickly or even urgently for a variety of reasons including to fix up your home, repair your vehicle, and so on.

- You might need to help a family member or friend out during a personal emergency.

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Effective Money Management

moneyman — Fri, 07 Dec 2007 10:36:18 +0000

The most important key to the effective management of money involves time. The more time that you are capable of investing in the management of your affairs, the greater the return will be as a result of your investment. The earlier that you begin to manage your money, the more effective you will be when it comes to accomplishing your goals. There are too many people who try to go about managing money when it is too late in their life, and managing the money you have left is not as effective as managing your money as it comes in. In essence, there are four different questions that need to be answered by any money management programme that you participate in.

- What financial goals do you have?
- How soon do you want to achieve your financial goals?
- What funds do you already have available?
- What risks are you willing to make in order to reach these targets?

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Banks and Banking

moneyman — Wed, 28 Nov 2007 15:01:15 +0000

A number of different bank account options are available these days and choosing the right bank account for your purposes will depend both on your individual circumstances and why you need a bank account to begin with.

What type of account should I open? â€“

There are many different types of bank accounts to consider opening, including ‘current accounts’ for every day, or day-to-day payment transactions, ’savings accounts’ for savings and interest earning on deposit amounts, and a wide variety of other accounts, each featuring different characteristics and catering to different users and uses. Once you have chosen the bank that you want to work with, you should talk to the counter staff or the bank manager so that experienced bankers may choose the best account option for you.

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Credit - a simple breakdown

moneyman — Wed, 21 Nov 2007 12:45:38 +0000

By definition credit is an arrangement made between a person and a company in which the person obtains goods, services, or money on the agreement to repay at a later time or date. Before you are lent the capital to make such purchases, the credit company will put in place various safeguards to ensure your repayment.

Safeguards

The safeguards used can and will come in different forms based on the type of credit you receive. One example would be the lender having right to repossess and sell property of yours in order to recover debt if you default. Other safeguards might be third party guarantees, and generally as a last resort, the creditor will take you to court.

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5 Signs That Stock Markets Are Due For A Correction

moneyman — Sun, 19 Aug 2007 02:55:23 +0000

While we are starting to see the first signs of a correction in the stock market, history has shown that there are many similarities between toadyâ€™s markets and other markets prior to â€œcorrectionsâ€. For those willing to take a step back form the euphoria of the stock market rise of the last few years, the signs of a correction have been there for some time - although some people are evening trying to shrug the signs off today!

So what are the 5 main signs that stock markets are due for a fall :-

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Inheritance Tax - Is It Such A Big Issue?

moneyman — Thu, 16 Aug 2007 03:10:47 +0000

As many experts forecast the strong possibility of a snap general election in September, to utilise Gordon Brownâ€™s honeymoon rating in the polls, it seems that the issue of tax has returned to the political agenda. Recently David Cameron has been under pressure from those right of central who are concerned that the Conservative party is moving away from traditional polices, but it seems the Tories may be about to take on Gordon Brownâ€™s record on taxes.

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3 Ways To Keep your Credit Card Spending Down

moneyman — Fri, 10 Aug 2007 12:08:53 +0000

The massive rise in personal debt in the UK is set to place many people under the glare of bankruptcy, and similar uncomfortable situations. While the main reason why people will be pushed into trouble will be the cost of homes and mortgages, credit cards also have a big part to play in the current situation. It is essential that you learn from a very early age that credit cards need to be respected, and are not just a bottomless pits of money.

Here are 3 simple ways to keep your credit card balances down to a minimum :-

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Tom Brennan Loses His Bank Charges Case

moneyman — Tue, 31 Jul 2007 11:44:33 +0000

In conclusion to the case of Tom Brennan, who was taking NatWest to court for damages, after being charged â€œexcessiveâ€ overdraft charges, we have to report that Mr Brennan has been unsuccessful in his bid. He has been the subject of a sustained campaign by lawyers representing NatWest, who have changed, cancelled and delayed the case from day one, in the hope that Mr Brennan would drop his claims. However, yesterday his case was thrown out of court with no right to appeal.

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3 Eco Friendly Products Which Look Good And Will Save You Money

moneyman — Mon, 30 Jul 2007 13:41:38 +0000

While there is no shortage of â€œgreenâ€ products on the market, we have found 3 eco friendly products which look good and will save you money. Slightly more obscure than your long lasting light bulb, or automatic refuse filter, you may find the following items fun and useful :-

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HSBC And The US Sub-Prime Sector Fall Out

moneyman — Sun, 29 Jul 2007 14:52:11 +0000

While the ongoing fallout from the sub-prime finance sector in the US continues to have a stranglehold on stock markets around the world, we have seen the first sign that the cycle may be turning. Half year results announced today from UK banking giant HSBC show a sharp rise in bad debt provision, and a less than expected rise in overall profitability.

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