The first rule when applying for banking and credit services is to always read the fine print and to understand all of it. Read up, take it home, and analyze it, ask the banking manager questions. The fine print is there for a reason. The charges and requirements contained in there, will affect the savings or added expenses you incur, whenever you bank or use credit.
Checking Account
You can generate savings of more than $100.00 a year, when you select a checking account with a low or no minimum required balance. Request a list of the fees that are applicable to your account and compare with other checking account offers. Read the fine print. See if you qualify for the conditions and stipulations, the bank requires.
Savings account
Prior to opening a savings or investment account with the bank of your choice, ask the bank and check to see that the account is insured by the federal government (FDIC or NCUA). Otherwise, you will assume 100% of the risk; you may end up risking more rather than saving.
Certificates of deposit or treasury bills or notes. These certificates and notes are accurately called forced savings. They earn above average but only after, they’ve reached a maturity period. If you withdraw before the due date, you’ll incur penalties. This is a competent way to generate savings from funds you have no immediate need for.
Once you’ve selected the type of savings or investment products, compare the rates and fees offered by different institutions. These rates can vary a lot and, over time, can significantly affect interest earnings.
Credit Cards
You’ll generate more savings by researching on credit cards. Or you can call a research credit firm that will for a modest fee; send you a list of low-rate credit cards. Use the list to compare the features of each of these credit card companies, according to their interest rates and billing cycles. Is it a 28 day billing cycle, or a monthly one? What are the freebies? Such as Cash back or airline miles offers. Will you use these? You could be paying for these in the form of higher interest rates.
If you have a credit card, practice the habit of paying off your entire bill at months’ end. You generate savings by not paying late payment or over-the-credit-limit fees, which will add up to bigger charges.
If you have a lot of credit cards, consider using only one or two credit cards.
In the long run, your research on banking and credit services, will pay you back well in terms of consistent savings.
08 FebCredit and Banking Money Saving Services
25 MayArt Investing for a Financial Future
When we think of investing we probably conjure images in our minds of the New York Stock Exchange, suited stock brokers making deals, bonds and treasury bills, and all manner of financial matters. The last thing we probably think about is art. Art investing, however, can be a big money business, and can create incredible financial gains and losses for those who choose to speculate in the art market.
Art investments can be risky, because no one ever knows for sure if an artist’s work is ever going to be appreciated. Even living fine artists who make a living doing their work are producing paintings and other artwork that may not be worth anything more than was paid for the work until well after the artist is dead and gone. When Keith Herring started painting his colorful silhouettes, there was scarcely anyone willing to pay attention to them. Once he died of AIDS and his work became associated with the national AIDS awareness campaign, the value of his work skyrocketed.
It’s difficult to give advice regarding art investments, but there are a few guidelines that the potential art investor can look at to help determine whether a particular artist’s work is worth purchasing.
How Known is the Artist?
Artists that are already well known tend to remain well known once they’re gone and their work becomes that much more valuable. When considering an art purchase, taking the artist’s fame into account can be a good idea. Of course, artwork by someone who is already famous for something else (the lithographs of John Lennon come to mind) will always be of some value.
Controversy Sells
If an artist raises eyebrows, it is likely that her work will rise in value. The work of photographer Robert Mapplethorpe is a prime example. Whether his photos were truly offensive or not makes no difference when considering that the attention brought to him by a senate investigation cause the value of his photographs to double practically overnight.
28 MayFinancial Investing 06 – Understand Financial Market Structures: Debt and Equity Markets
In this article, we will continue the financial investing series with the discussion of financial market structures known as debt and equity markets in macroeconomics.
I. Debt markets
Fund borrowers can utilize debt instruments like bonds, debentures or mortgages. These financial instruments are legal document that require the borrower to pay lender certain amount of interest payment until a maturity date. The maturity date is the date the bonds expire Interest is paid at stated intervals until the maturity date, whereupon the borrower repays the principal.
A debt instrument can be
a) Short termInstruments require one year or less for repayment
b) Medium termIt can be repaid between one and ten years.
c) Long term.
It is longer than ten years to repayment.
II. Equity markets
The equity market raises funds by the issue of shares that create ownership in the corporation. There are different types of equities markets
1. Primary markets:
Only sell new issues of a security. Brokerage houses act as intermediaries and underwrite the securities by guaranteeing the price by the corporation or government issuing them. Initial Public Offerings (IPOs) are usually pre-sold and not available to the public.
2. Secondary markets:Resell securities that have already issued through the primary market andthey are sold in open market without a price guarantee by stockbrokers and dealers.
3. Exchange and over-the-counter markets:this is the stock markets that arrange for buyers and sellers to interact in one physical location.
4. Over the counter markets (OTC markets):Dealers hold an inventory of securities that they sell over the counter to anyone willing to accept their prices.
III. Money Markets
Money markets trade securities with short maturity dates, usually of one year or less.
1. Government treasury bills (T-bills):
These are debt instruments purchased by corporations, other governments and consumers to finance federal government deficits.
2. Short term government bonds:
These are bonds that have a maturity date of less than three years and carry a fixed interest rate. They are equal in security to a T-Bill.
3. State and municipal short term notes and bonds:These carry interest rates that are determined by the credit rating of their issuer.
4. Banker acceptances:These are bank drafts issued by a firm. They have a stated maturity date, usually 30 to 90 days and can, for a fee, be guaranteed by a bank. They are also virtually risk free.
IV. Capital markets; Capital market instruments include the following:
1. Stocks:These are equity shares in a corporation.
2. Government bonds: These are long term debt instruments that have specific maturity dates, interest rate and are highly liquid.
3.Savings Bonds: These are sold directly to the consumer and always maintain their face value and may be cashed at any time.
4. State or provincial Bonds: These are issued by a state or provincial government.
5. Municipal Bonds: Issued by local governments and often used to finance specific projects.
6. Corporate Bonds: These are used to finance short or long term activities. They have a lower credit rating than government bonds, hence a higher interest rate.
7. Warrants: Warrants are certificates that give an individual the option to buy a stated number of shares at a specified price for a specified period of time.
V. Foreign exchange market
In the foreign exchange market, currency is bought and sold.
I hope this information will help.If you want more information of the above subject, you can find this series of articles at my home page:
http://lifeanddisabitityinsuranceunderwriter.blogspot.com/
http://financialinvesting05.blogspot.com/
http://financialinvesting06.blogspot.com/
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I have been studying natural remedies for disease prevention for over 20 years and working as a financial consultant since 1990