In this article, we explore some avenues that could make you laugh your way to the bank.
Buying homes in towns that have a city side
In times of slow economic growth or worse during a recession, people are more likely to walk to public transportation (train, bus, transit). Having a home in such a neighborhood is valuable as they sustain their value ($$) and are recession-proof. Continue reading
Bank of England has reassured that there is no hurry to hike the interest rates in the next year. With the surprising increase in the rate of recovery in the last quarter, BoE governor indicated that an increase in the rate, will have an adverse effect on the consumers and businesses.
Threshold of unemployment
The unemployment rate in the country has dropped below 7% and still the bank wants to keep the interest rate, at the same level. The governor advised the people not to be too assured about the promising figures, due to the economic recovery. This can be taken as a slight warning as the prices are rising faster than the wages.
When the governor addressed the concern about the future housing bubble, he mentioned that he believes that the bank would be able to manage the problem without falling into deep levels of debts. The shadow Chancellor praised the growth in the economy but indicated that though the economy has positive growth, the current situation is keeping millions of households under debt. Though ministers are hoping the interest rate should not rise, the Prime Minister said that they will eventually rise and due to the unprecedented economic challenges, the very low interest rate was proposed to the country.
The way of celebrating Christmas may be different for different type of people but the common factor for everyone is the hiked spending. By January, most of the people would be worried about credit limit collapse and unpaid bills. How to avoid having January blues?
Set a concrete budget that would not eat up your whole credit limit. If the budget exceeds, try to minimize a few expenses or choose a different store to buy the presents.
Kris Kringle is a best way to save in a very large family. With Kris Kringle, each person can buy a present for the other, thereby reducing the amount of money spent on presents.
Set a limit with the number of items in the menu, number of friends to be called and the amount of money to be spent on presents, with your family.
Talk to experts
Talk to experts who are well versed in handling big Christmas celebrations, for advice. It can be your parents, financial advisors or friends. Find how they celebrate, where they buy and how they tackle the financial burden during celebration time. A few tips in the budget would help you avoid January blues.
By 2014, the online shopping rates will carry GST on overseas buys which is believed to be about $20. The current threshold for GST free transaction is $1000. After discussion with the Treasurer and the state treasurers in Canberra, Mrs Osmond revealed that the state and the federal government have agreed upon this decision. Continue reading
A study was conducted with 2000 families to compare their estimate of their annual spend for bills including taxes and compared it with the figures obtained by institutes like Ofcom, Ofgem and Ofwat. The result was found that on an average, the households underestimate their annual spending around 500 Euros. Continue reading
People generally don’t bother about changes in tax laws until they are ready to file their returns. However, this approach poses a big risk, especially when it is realized at the last minute that the tax bill could have been considerably lower only if some effort had been put in earlier to understand the implications of the new changes and take remedial actions. Continue reading
According to the Financial Ombudsman Service (‘FOS’), complaints and disputes between consumers and banks have fallen for the first time since the global financial crisis (‘GFC’). The number of recorded disputes declined by 11% to 32,307, a first since the 2008/09 GFC period.
The FOS attributes the fall to low interest rates, new rules on flood insurance, and regulatory changes to the hardship programs of banks. Chief Ombudsman Shane Tregillis said that much of the improvement was due to the 22% decline in financial hardship disputes. Disputes resolved without an Ombudsman’s ruling remained steady at 70%.
There are various types of loan products that are available for individuals today. However, the ones that are most sought after have remained the same in a while and their popularity still persists. Continue reading
The government of Australia is considering a demand for imposing a 10% consumption tax on online purchase of goods, below $1000. Continue reading
With the possibility of a hike in the interest rate, the first home buyers are warned not to let their budget, go out of control. The important cause for this increase in index is the rise in the house price in Melbourne and Sydney. Limited wage increase and soft labour market in Victoria and New South Wales are the other factors. Continue reading