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Showing posts from January, 2009

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Digital Currency - Cashless Society and Future of Money

  What can replace cash? Due to lots of innovation in this 21st century, nothing seems impossible around the globe. Reality is in front of us, as money will strip off its tangibility and cryptocurrency will appear out as individual units for virtual exchange. This requirement can be fulfilled with the help of Internet, iPhone or any Android-Gadget. Cashless transactions are practiced globally. Various countries like India, Sweden, and Belgium etc... have taken a back step from paper currency. Sweden has an objective to become the first country in terms of cashless economy. Two years ago, demonetization took place in India and most of the population in Belgium does their payment through cards or mobile phone apps. Even, there is a creation of law to limit the cash transactions up to a certain amount. The capability of digital currency Exchange There is a great opportunity for everyone to invest in tokens. The waves related to Cryptocurrency may give an allowance to receive the tokens w

Avoid mistakes when booking Travel Insurance

Travel insurance is quite a new in insurance category, but is very essential for your travel. For booking travel insurance people are doing many mistakes in most of the cases. At the time of booking travel insurance, travelers are often excited and they are only thinking about their trip. They generally miss some of the most important aspects of the actual insurance and also fail to think their insurance through completely. There are a lot of mistakes made by traveler at the time of booking travel insurance. These are, 1. Wrong Personal Information : Travelers can easily slip up when they are putting their personal information into a system, or onto a form, when booking travel insurance. A lot of people fail to double-check everything that they have written down, simply because it is information that they feel they should never mess up. 2. Fail to Compare Insurance Products : When Travelers are booking travel insurance, they are often comparing packages. They need to fully unde

Tips to minimize your credit cards spending

Credit cards are very necessary in today’s life. In emergency, some time we need a credit card very badly. Many people have credit cards more than one. That’s why credit card companies like maximum usage of credit cards, because in this way they can earn more by high interest rates. If you run up a large balance and only pay the minimum each month, it will take you years to pay the card off. After all credit cards are so expensive, it is very much important to control your credit card spending. You can save your money in many ways, like 1. Make a budget: You need to make a monthly budget to help you understand where your money is going. Always stick with your budget. 2. Try to avoid cash advances : Cash advance has a much higher interest rate than credit card charging. It means you slowly building your balance due to higher interest rates. Apart from that you need to pay a fee (3% - 5%) on your cash advance amount. 3. Pay off as much of your balance each month: Paying

Tips on how to simplify your finances

Do you know how to cut down on the amount of time you spend on your finances? Here I’m going to share about some simple ways which will simplify your finances, these are • Try to organize your finances : Take all of yours previous year’s tax returns, banks statements, etc. and set up a filing system. Store all related information together, like all of your tax filing information for multiple years. Collect and safeguard your essential financial paperwork of insurance policies and others. • Make a budget of your expenses : Though you are keeping good track of your finances and bills, make a budget of it. It will be easier to control your expenditure and improve your finances. • Use cash for your daily expenses : Always try to track your ATM or teller withdrawals and also do it once a week, not more than that. If you are married or share your bank account with a partner and both of you withdrawing enough cash once a week. Try to reduce the transactions to one instead of

Tips to become a Debt Free Person

Hello friends, do you want to become a debt free person? I have a solution for you. Let’s take have a look into the following: 1. Make a list all of your debts. 2. Always try to pay at least your minimum payments every month on time. 3. Make the full payments of those accounts (a) The account with the highest interest rate, or (b) The account with the lowest balance. 4. Try to continue to make minimum payments and extra payments until your 1st account’s payment is over. 5. The minimum payment which you were paying to the 1st account, try to combine it with the extra payments and pay the entire amount to the 2nd account on your debt list. 6. Try to continue this process of making payments of your accounts and also combining those minimums with extra payments until you are become a debt free. Some additional ideas for you, should keep in your mind: 1. If you have many credit cards, you can move debt from a credit card with a high rate to a credit card with

Take a help of Mortgage Calculators

Mortgage calculators are very essential tools in real estate market. A potential owner will determine how much they can afford to borrow for purchasing a real estate. Mortgage calculators are also using to compare the costs or real interest rates between different types of loans. By the help of mortgage calculators a person can determine the impact on the length of the mortgage loan of making principal payments. These types of calculators are automated tools that help the user to determine the financial implications of changes in one or more variables in a mortgage financing arrangement. The main variables with the periodic interest rate of compound interest, balance of loan principal, number of payments in a year, regular payment amount and also generates total number of payments. Usage of mortgage calculators : At the time of purchasing a new home most of the people choose to finance a part of the home price by the use of mortgage. The financial implications o

Insurance Benefits after your Retirement

I nsurance Benefits in old age as a form of social insurance paid by the US Social Security Administration of the US citizen 62years or older age. The Benefit payments are made on the 3rd of the month. A person attains fully insured status based upon their payments into the Social Security system through payroll taxes and the amount of time they have been working in a job covered through the Social Security system. This is measured through quarters of coverage. Here a person must have at least one QC for each calendar year. The year they obtain the age of 21 and the earlier of the year which they obtain the age of 62 or the year of death. Also a person should have at least six total QCs and will not be required to have more than 40 QCs to be fully insured. The fully insured status is used for other benefits. How to Apply : It mainly based on when a person claims RIB. Not every person will desire to begin collecting their benefits at the same time. An application need to be filed w

Mr Barrack Obama’s current statement about Economic condition

B arrack Obama, the 44 th & current president of the United States of America inaugurated as President on January 20, 2009. On a record crowd almost more than two million people has come to see Mr. Barrack Obama’s inauguration ceremony. In the recent Global Economic crisis, most of the people around the world are expecting something good and stable economic condition can make by US new president Mr. Barrack Obama. Mr Obama said USA ’s economy was in the midst of crisis and weakened by greed, irresponsibility and complacency. In this Recession moment, he committed to take Bold and Swift action. He has given an indication that his top priority will be signing into law a new economic stimulus package of close to a trillion dollars. He also told that will spend on decaying infrastructure, building, roads and bridges, the electric grids and digital lines that feed the commerce. The President hailed the strength of American ingenuity and told that he would attempt a centrist

College students must know how to use credit cards according to their ability

Hello friends, do you know that why credit card companies’ big target is college students even they know many students already covered in full of debts. You might be seen in the news papers or in the TV news that college students are holding a number of credit cards and most of them using credit cards carelessly. Some of the college student’s credit card debt is approximately two thousand dollars. Nellie Mae, the largest student’s loan company (in USA) says that two thousand dollars is average, some the students is more the two thousand dollars under debt. But the loan company’s point of view that for adult two thousand dollars is not a big amount. If their parents can pay college fees, then they can surely pay off the credit card loan for their kids. In USA most of the loan and credit card companies think that students are their ideal customers. According to a popular shoe manufacturing company their marketing tie up with one of the big credit card company. These credit card comp

Citigroup is planning for breakup in two

A fter getting a huge pressure from regulators Citigroup’s CEO Mr. Vikram Pandit has decided to divide this banking company into two. Citicorp and Citi Holdings would be the names of the parts. Mr. Pandit told that he believes there is a lot of value in having them ( Citicorp and Citi Holdings ) focused and also said that they are not in a rush to sell businesses. Mr. Pandit is also agreed to start a joint venture with Morgan Stanley to raise their capital for cover up huge losses in last fourth quarter. Citigroup’s big loss of 9.8 billion dollars for last quarter and share prices has gone down as low as $1.72 per share. Citigroup would break even on a per share basis according to analysts. Citigroup declared of their big loss for five consecutive quarters and on 16th Jan, 2009 announced that a staggering 25.2 billion dollars in write-offs and losses in both its consumer and investment bank brought its total charges to 90 billion US dollars. The company reported a net loss of 18.72 bi

Do not forget to Buy or Renew Auto Insurance

Auto insurance is buying for cars, buses, tracks, motor cycles and other vehicles. Its main purpose is to protect the insured vehicles against the damage or losses of a car from a sudden accident. Now-a-days Auto insurance is compulsory for every vehicle. Auto insurance covers injury liability and damage of property in most of the states of United States of America. As for example in New Hampshire state vehicle drivers do not need liability insurance, where as vehicle owner must pay five hundred dollars yearly per vehicle in the state of Virginia. There is a possibility for putting in Jail for not having vehicle insurance in some states of USA. Auto insurance may cover the following items:  1. The insured motorist or vehicle driver  2. The insured vehicle  3. Third parties (vehicle and people)  4. Person who riding the insured vehicle (available in some states of the United States)   Apart from that some different policies are also available depends on the circumstances, l

Want to become Debt-Free? Go for Debt Consolidation

D ebt consolidation defines to pay many other loans converting into one loan. People are mainly interested for doing debt consolidation to get lower interest rate or can get fixed interest rates or it’s very much convenience to pay off many loans by only one loan. It helps to simplify a number of unsecured loans into one unsecured, but most of the time involves a secured loan against a house. Sometimes a person can get a discount against loan from debt consolidation companies. Debt consolidation also helps the debtor to discharge debts in bankruptcy, so the decision must be taken carefully while doing consolidation. If a person is paying credit card debt, a credit card can carry a huge interest rate than an unsecured loan. So the debt consolidation is always advisable in the case of credit cards bill payment. Advantages : • A person can get many advantages from debt consolidation loan when you have bad credit or you are getting so much stress from unmanageable level of pers

The Reverse Mortgage Advantage

Reverse Mortgage is a type of loan which is available for senior citizens. These are very good types of loan that help for eligible home owners can get Tax free cash flow. After the retirement most of the people already used reverse mortgage. This mortgage is a Govt. sponsored & insured loan. Its main advantage is that the eligible person no needs to pay any thing for the period of time till he lives in his home. There are three types of reverse mortgage is available, these are: 1. Federally insured 2. Lender insured 3. Uninsured These three reverse mortgage products are: 1. Home Equity Conversion Mortgage 2. Fannie Mae Home Keeper reverse mortgage 3. Cash Account The mortgage products defer upon 1. Residential property 2. Payment types 3. Loan amount 4. Processing fees 5. Interest on the loan balance Cost and interest rates of Reverse Mortgage: Getting a reverse mortgage loan through a private organization’s lender is a hi

Health Insurance is very essential Now-a-Days

Health Insurance is one type of insurance which helps to bear for medical expenses. You can choose for Government sponsored health insurance program or go for private insurance companies. Health Insurance is available in two types, Group basis (i.e. for employee’s health insurance quotes to cover by the firm or company) & Individual consumers. In each type the health insurance covered Groups for Individuals need to pay insurance premium to help them for unexpected and high cost medical expenses. You can estimate the overall health care expenses of you and your family members. A routine wise you can pay the premium monthly basis or annually. You need to ensure that the medical benefits must be specified in the insurance agreement. All these benefits are administered by a central organization, either a government concern or a private organization or a Non-profit entity can be operating a health plan. Health Insurance policy is a contract between an insurance company and an indiv

Have a Great and Prosperous New Year 2009

Hi Friends, today we already stepped into New Year 2009. I wish all of you have a Great & Prosperous new year. In this happiest moment let me share a Great poem of an unknown author. It has been a great year, but an even better one is ahead, because the new year can be anything we want it to be. So as we bid farewell to the old year and welcome in the new, let's dare to dream of all we can accomplish with a little hard work and dedication. Let's pray for peace in the world and try our best to love each other a little more and judge each other a little less. Let's make a resolution to be more forgiving and less angry. Let's focus on our goals and try to be the best we can be. And let's never lose faith in what we can accomplish. Happy New Year! May the New Year bring you and yours much Happiness and Success...