We are all aware of the risks associated in taking payday loans, but it looks like there are still many people who are drawn to them. What’s worse is that it isn’t for perky spending always, either. A research made by the DAC (Debt Advisory Centre) has shown that a concerning proportion of payday borrowers are utilizing the money to settle essential dues, stressing how much the living cost is taking its toll.
Based on the numbers, it shows that out of the 7% respondents who have take out a payday loan during the last 12 months, 44% have done so to settle essential costs like travel and food outlays. An additional 35%utilized the money for rental and mortgage fees, a percentage of 22 for other bills and 13% for emergency purposes.
This doesn’t only emphasize the pressure that many household budgets are going through; however recommends an insufficient suitable savings – especially when emergencies should be paid for by a loan. It would appear that Lainan are greatly used as a last option whenever the income of the borrower isn’t enough, and though some borrowers utilize the cash to treat themselves which is around 5%, 20% for holiday or kid’s birthday or to buy Christmas gifts (12%), simply many are struggling with daily expenditures. More →
As we try to recover from the effects of the great recession, we know better than to spend money irresponsibly. We may have drowned ourselves to debts but we still have the chance of repairing our credits through the right financial institution that would help us do so. Look for credit repair companies reviews and decide for yourself which company you’d choose to hire their services from.
Meanwhile, here are some ways to jumpstart your investments, even if it’s only $1,000, so that you will have a buffer during a financial crisis.
Note that, the maximum contribution you can make in 2015 is $18,000 if you are under 50 years old; thus, unless you’re making a lot of money, chances are you still have a lot of room to increase your contribution of some kind. More →
Indeed it’s a great news for all to avail homeowner loans to fund your home improvement needs. In case you run out of money but are planning to make some renovations for your home, such kind of loan is the answer. But an even greater news would be the inflation has dropped to zero percent. It is an odd moment of happiness for all the savers out there, finally improving their opportunities to get a real return out of their money.
As released yesterday, inflation figures showed that the CPI or Consumer Price Index drop from 0.3% to 0.0% in February, big thanks to the falling of food and oil rates. Through shopping around, savers can now look for immediate access savings accounts paying costs of up to 1.50%, or as much as 3% if you are ready to secure your cash up in a fixed-rate bond.
Editor of MoneyFacts, Sylvia Watcot says “Savers will discover that the interest they earn today has more spending power.”
This goes a dismal 5 years when many savers were getting a lower inflation return, she shares. “If 5 years ago you have saved £10,000, allowing for 20% average tax and interest, it would have £8,792 spending power now – a drop of more than 12% in real terms.”
‘Britain is the comeback country’: Osborne’s pre-election giveaway promises tax cuts for workers and savers. Image: dailymail.co.uk
From April next year, it’s up to £1,000 of savings interest tax free will be received by basic rate taxpayers.
According to Waycot, savers who gotten out of the leading paying easy access account from Kent Reliance, which shells out 1.50%, would require a balance of £66,667 to accumulate £1,000 of interest. More →
In some states, drivers are currently required to purchase a certain amount of liability insurance policies. If driverless cars will become real in the near future, owners will still bear the responsibility of acquiring insurance in the event of any accident.
According to Insurance Information Institute (III), that the insurance policies of driverless vehicles will still depend on the location of the car owner, their accident history, and the average miles they drive every day. It will also depend on the type of vehicle they drive and where it is driven. More →
Half a decade ago, the housing market in Miami was not in a good shape that led developers to cease building. Currently, there are 94 towers that are under construction; three of which have penthouses that are being priced $50 million or higher. Two of which having similar list prices have already gone into contract. This is why lending institutions, such as Uncle Buck payday loans LLP, are also coming out.
Before the recent trend of $50 million worth of penthouses, Miami’s most expensive home was bought for $47 million when a Russian acquired a compound located in Indian Creek way back 2012. As a matter of fact, that was the highest deal closed on record — which was actually a 30,000 square-foot single family home that stands on 2 acres of land, not an apartment. Up to date, there are no condominium units that have closed anywhere that recorded price. The most expensive condo unit sale in Miami was bought for $34 million for 2 triplex penthouses (which was 16,271 square feet for 3 levels) at The Residences at Miami Beach Edition, a hotel-condominium by Ian Schrager.
Moreover, two penthouses at the Mansions at Acqualiana which were priced at approximately $50 million were already sold, although the purchasers and the exact prices were still unknown. These penthouses were first marketed as the “Palazzo d’Oro” by the Trump Group, the combined 46th and 47th floors duplex was sold for $55 million. However, when a buyer only wanted the 47th floor, the developer repackage the 45th and 46th floors as separate duplex penthouse, pricing them at $50 million; that too, is already sold.
The use of credit card if managed correctly is, of course, advantageous. This could be considered as one of the most promising tools for financial aid. The use of credit card in the right way offers paybacks, bonuses, and trips, and most especially it could bring a good credit score that could help you in the future when it comes to increasing chances of approval of loan applications or higher credit limits. If you want to handle your credit cards well in order to have a better financial profile, then you have to consider these tips.
Remember the saying that “less is more”
If you want to manage your credit card accordingly, one or two credit cards are enough. You don’t need a bunch of credit cards in your wallet in order to improve your credit ratings. What you need is a credit card that offers the best terms. There are credit card companies that offer lower interests rates or fees that are ideal.
Spend on needs and not wants
Credit cards are a big temptation when you are to talk about shopping. Most of the time, buying of things is done without thinking. This shouldn’t be the case because you might end up one day looking for a payday loan company like QuickQuid. This company is available online and most of the time serves as the best option for those who need quick cash to pay off their financial obligations. But if you don’t want to be worried about loads of credit bills, think first before buying. Consider your needs before your wants.
Some people like to check their credit scores regularly; some force themselves to do so; while others don’t find it that important.
You might think that credit scores don’t have an impact on anything primarily because you don’t utilize credit cards or you don’t need it to access credits. Or maybe you don’t care much about their impact on interest rates when acquiring a loan. However, the truth is, it has a huge impact on your finances.
A car is one of the luxurious properties we spend on. More often than not, people acquire them through loans. Unless you are capable of paying it on a cash basis, you would need to get an auto loan and your ability to acquire one largely depends on your credit scores.
Credit Card Companies
Although credit cards are great for helping consumers finance some immediate expenses, they aren’t actually a necessity. That fact isn’t realized by many that they build up their credits for unnecessary expenses and then failing to pay them off. Thus, these people might need the review of the top credit repair companies that would help them stabilize their credits.
If you want to open a credit card, however, you’d certainly need a good credit score. Having a good credit score means you’ll have many options when trying to find credit cards and the more likely it is for you to have better interest rates.
Owning a home without mortgage may be possible if you have a lot of money. Considering that most Americans find it hard to come up with at least 20% down payment, paying all-cash for a house is impossible for most of them.
Therefore, if you want to own a home, you’d probably have to acquire a loan. Applying for a mortgage loan is a difficult task, even for people who have good credit scores. Thus, if you have a bad credit score, you’re facing the most complicated financing tasks available.
Living without having credits or loans is possible. But if you take out loans from time to time, you should note that your credit score affects your net worth. Since your credit score usually determines the interest rates on mortgage, auto, and student loans, a lifetime of good credit score would mean that you have a little interest burden and hundreds of thousands put into savings in comparison to “what you could have” paid if you have a bad credit score.
About 10% of the complaints to Insurance & Savings Ombudsman involve people whose claims were turned down primarily because of non-disclosure. Non-disclosure actually means not telling the insurer something it needs to know when taking out your insurance policy; the most common mistakes people make is that they fail to disclose their criminal convictions and their past medical history.
Common Insurance Claim Mistakes
According to Insurance & Savings Ombudsman Karen Stevens, approximately 10% of complaints to the ombudsman scheme involve policyholders whose insurance claims and payday loan is declined; as a matter of fact, in some cases, their policy is “avoided” — a jargon used in the industry for treating policies as though they’ve never existed.
Stevens said, “The two most common things people fail to disclose are their pre-existing medical conditions (39%) and any criminal convictions (29%).”
Other non-disclosure cases, on the other hand, are purely accidental.
“Some cases are clear, where people deliberately leave out information they were asked to provide, knowing that it will go against them. However, in other cases, people accidentally leave out information because they have forgotten, or do not realize it is important,” she added.
Currently, the law allows insurance companies to treat accidental and deliberate non-disclosure the same way; thus, they have the right to avoid the policy if there was a “material” non-disclosure.
Some insurance companies, however, usually wouldn’t go that far. But, Stevens is continually calling for a change of the law for the protection of those who leave out information during the insurance application process.
Stevens said, “We had a case where a health insurance claim for surgery was declined, because when the consumer applied for insurance she had not disclosed she had depression years before. Although it didn’t relate to her claim, the insurer was entitled to avoid the entire policy, because the information about depression would have changed the terms on which the policy was issued.”
Currently, the law requires the consumers to disclose all pertinent information needed by the “prudent” underwriter of the policy.
“This is extremely difficult for consumers to understand. Insurers do tell their customers they need certain information, but my concern is that consumers don’t understand the consequences of not providing the information. That means we have a constant stream of complaints, and some very unhappy people,” Stevens added.
The ISO Scheme
According to Karen Stevens, the ISO Scheme puts us in a position where we really can’t do a thing about things since the insurers have the legal right to follow the law and what’s in the contract in terms of declining and avoiding insurance policies for non-disclosure of materials. She said that the law she wants to change will allow insurers to avoid the policy if it can show deliberate non-disclosure.
Few days after the consumers in UK have been granted regarding their right to take Google over the court for privacy reasons. The European Union (EU) has announces to the public that in the near future, Google will be facing antitrust charges taken by their Europeans competitors.
The antitrust case was filed and is keeping on trials since 2010. The European antitrust case started when European travel, local companies and even shopping centers has alleged Google of domineering with the search results in the search engine. They said that google is using its position to direct users to their sites against those that are in the lower rank of the lists which is less likely to be seen. Not only that, Google has also been accused to limiting access on search to those businesses in UE that is willing to do business with them. These businesses that they are currently responsible of are about 90 percent of the searches in Europe.
The UE commission will act as a jury and a judge at the same time in these antitrust issues. They are also entitled to make an appeal by a separate court which is in Luxemburg court. The allotted time for Google to prove its innocence regarding European antitrust laws or to make any compromise is within the duration of 3 months.
In the past, Google was not open for any European antitrust settlements. However, in the year 2012 and 2013, the company has decided to resolve the case through settlements. If we are to talk about antitrust law in Europe, Google will have to pay 10 percent of their profits which is about $66 billion as of last year. This is in case they lose the antitrust case filed to them.
We all heard about gold IRAs that helped retirees continue having means for living. It is considered to be a smart investment primarily because it serves as an assurance that you will have an income when you aren’t able to earn and work anymore. To know more about gold IRAs, visit http://www.goldirareporter.com.
It is important that you successfully implement and regularly review you financial plan in order to ensure that you will have financial stability while you are working and to secure your future retirement. You can choose from different investment plans to use in order for you to save for retirement.
The ideal way is to start planning for retirement as soon as you start working; this is to ensure that you will be financially prepared during your golden years. You can make use of various tools that will help you plan for financial security in the future.
The Retirement Nest Egg Calculator, on the other hand, will help you to be able to determine the size of your retirement nest egg.
Another tool is the Retirement Planner that helps monitor whether you are on track with your retirement plans and how to keep it that way.
The Registered Retirement Income Fund (RRIF) Payment Calculator will help you determine various payment options that you can choose from your RRIF.
The RRSP Loan Calculator is an excellent way of jumpstarting your retirement savings. This calculator will give you how retirement loans can help your plan for your retirement savings.
The professional financial advisers at the Susan E. Vint, CGA, CFP, in Bolton use proactive methods in planning for your retirement. They work with you by developing a plan that would best suit your future needs. They keep track and are updated with the new laws and legislation and they are in a position to help determine retirement planning opportunities that fits your contributions.
Financial companies are very dedicated in to paying close, particular attention to your financial needs and they offer a wide variety of financial services for both individuals and businesses. Aside from that, they also provide accounting services such as (but not limited to) financial statements, bookkeeping, cash flow, budget analysis, tax planning, tax preparation, taxation services, property and trust fund tax preparation.
Fifteen ex-students of Corinthian College are mad. The group claims that they are being taken advantage of and target by a for-profit college system. They aren’t the first to complain about the institution; however, what actually makes these students unlike the others is that they refuse to repay their student loans; they are on strike.
According to the Debt Collective website, an anti-debt organization that aims to call other students to challenge creditors, “If you owe the bank a thousand dollars, the bank owns you. If you owe the bank a trillion dollars, you own the bank. Together, we own the bank.” The group is calling on to those who have student debts from Corinthian Colleges to join them, saying they won’t pay for the degrees that have resulted to unemployment or to jobs that don’t pay well for a living.
The school, on the other hand, isn’t backing down.
The spokesman for Corinthian Colleges, Joe Hixson, said, “Corinthian Colleges stands by the education it provided for its students and we are proud of our track record of helping students meet their educational and career goals.” He, however, refuses to comment on the actions that were taken by the Corinthian 15.
But, he noted that, “The traditional community college graduation rate is as low as 20 percent. Many Corinthian students tried a traditional community college before coming to Corinthian and found the Corinthian education better fit their needs. There’s clear need for an alternative to community colleges and Corinthian provides that.”
Note, however, that this isn’t the first time that the institution is under the limelight. The Consumer Financial Protection Bureau (CFPB), responsible for protecting customers of various credit repair companies, filed a case against Corinthian Colleges claiming that they have deceived their market and they have engaged in predatory lending practices. A certain company that has acquired several Corinthian campuses has provided $480 million in order to relieve the private student loan of the students in Corinthian. Hixson, however, didn’t give any statement pertaining to the said lawsuit.
What happens when you refuse to pay loans?
Joshua Cohen, a student lawn lawyer in Vermont, said, “I’m not sure we have anyone who’s going to get hurt except the people striking. In order for this strike to really work, everyone would have to be untouchable.”
Before you decide to join Corinthian 15, you need to consider very well what would happen if you default on a federal loan: the government have the right to send a collector after you. Therefore, it can trim down your wages. If you don’t have work yet, the government will go after you as soon as you start working. These delinquencies will also do serious damage on your credit rating which would make it difficult for you to find a place to live in. Moreover, federal student loans cannot be discharged due to bankruptcy.
As expected, Snapchat launched their new “Discover” area featuring stories of advertisers which can be viewed by all users. In fact, they released a short video and a blog post that explains more about this. They take a closer look on this new baby and will post more detailed stories to keep it updated and will entice users to know more about the advertisers. This new idea signals Snapchat’s move in going beyond messaging, they will shift into another field through the launching of Snapchat Discovery on Tuesday.
The work started in 2014 as Snapchat aims not only to be known as a messaging site but to move further by turning itself as a content platform, most of the content are going to be provided by their partners like CNN, ESPN, Warner Music and Vice. The expansion of the site is not just to cater to more clients and expand their platform but it can increase the revenue too through the ads of publishers. The sharing of revenues will not follow the traditional practice where it is going to be favorable with the site. Usually, the practice is that 70% goes to the media partners. They reported it will be more favorable to the partners. Also, they have plans of creating original content for Snapchat Discovery; in fact, they already have an editorial team where Ellis Hamburger is a member.
This move aims to increase the mobile app’s targeted audience, the young people to continue engaging with content which is beyond the messaging they exchange with their friends. This would also create an avenue for the young people to be participative at the same time become aware of the news happening around the world. It can help them have a voice and express their ideas. This is strong evidence that it is going to be a smart bet. The Snapchat Stories enable users to include them in their messages and can be shared with followers. Some brands are already using Stories to capture the millennial crowd while others have resorted to Snapchat Influencers and have been paying for endorsements. Also, they regularly create Stories during events like parades, college football games and music festivals. However, not a single activity mentioned generated revenue for the mobile app until in October 2014 when they sold their very first advertising spot. Reports showed that it earned millions of views. That was the very first revenue they had and after that, Samsung, McDonalds, Electronic Arts and Macy’s are already running Snapchat ads.
The new Snapchat Discovery opened new opportunities for the company. They were not afraid to launch a new platform. If you want to learn how to create new ideas for your Internet business, you can attend the BHW conference where the organizers teamed up with world renowned speakers. They can help you maximize your earnings, one of them is Scott Stratten. He is the president of UN Marketing and has been one of the brilliant people who had great influences in the world of Twitter; he had a record of 60 million views.
Thinking of ways to improve your original platform and cater to a wider coverage means taking bold steps. This is what Snapchat did in 2014 to launch new ideas for its users and increase their revenue.