Category: Finance

UK Statistics Show More Britons are Now Placing Savings in Passive InvestmentsUK Statistics Show More Britons are Now Placing Savings in Passive Investments

The 2020 UK Savings Statistics revealed that an average UK citizen had saved £6,757, while Adult ISAs fell from a previous £6,466 in (2017-18) to £6,049 (2018-19). The findings also indicated that the average amount placed in investment programs rose from a previous £994 to a current figure of £1,020. Even if minimal, the latter info indicates that UK citizens are now making conscious efforts to improve their personal finance by placing their savings in passive investment programs.

Moreover, the report also showed that the number of Adult ISAs had increased to more than 11 million (2018-19), when compared to the previous 10 million plus in 2017-2018. The UK’s Individual Savings Account (ISA) program for one allows citizens to hold cash, shares, and a mixture of securities by way of unit trusts; whilst earning extra by way of tax-free dividends, capital gains and interest income.

Even more encouraging is that the number of Junior ISAs is also rising, as statistical data indicate that nearly 50,000 additional accounts were opened in 2018-19. Apparently, there is an increased number of British parents who are also investing for the future of their children.

UK Citizens are Overcoming Their Lack of Confidence in Investing Their Money

Financial service providers believe that one of the things that is holding back other Britons from investing their saved money is their level of financial literacy. According to a 2017 survey study commissioned by Bank of Leumi, nine (9) out of ten (10) UK think that they are undereducated when it comes to personal finance, more so when it comes to investing.

Due to this knowledge gap, fintech innovators have made their services more transparent and easier to understand. That way, more consumers will have greater confidence in placing their money in passive investments once they have a better understanding of their options.

One such UK fintech firm that has taken this initiative is True Potential Investor a digital wealth management company based in Newcastle City upon Tyne.

In 2014, the firm collaborated with the Open University to establish the True Potential Center for the Public Understanding of Finance. The goal is to provide public education about savings and investments to help UK adults map out financial plans for a better future. The center’s free personal finance courses have since become very popular among adult Britons looking to improve their financial literacy.

A Quick Glimpse at True Potential Investor

Using a True Potential Investor review published in the Ask Traders website as reference, we learned that this digital investment management company was founded in 2007 by a group of professionals with extensive experience in providing investment management services and developing financial services technology. The company has made it their mission to help UK citizens grow their savings. Doing so will empower the latter to easily meet goals of saving enough funds that will enable them to settle in comfortable retirement in the future.

True Potential Investor (TPI) provides a user-friendly robo-advisor platform with mobile app support. Unlike other providers of fully-automated services, those looking to invest their money with TPI can try out the digital investment services even for a minimum amount of £1. Once an account is set up online, a TPI member can choose any of three types of savings account, namely:

  • Stock & Shares Individual Savings Account (ISA),
  • General Investment Account (GIA)
  • Personal Pension Account.

Based on a TPI member’s investment risk preference, they will further select one of five options deemed as the suitable portfolio management approach for their savings account. The five portfolio options are labeled according to the type of risk involved, namely: Balanced, Cautious, Defensive, Growth and Aggressive.

300 Decades Of Money Trading300 Decades Of Money Trading

Pioneers of bank

Holy priests hated Jews, and villainous Italians were the pioneers of banking. They made a lot of money from interest on loans, and they became more and more greedy.

Tempel was the first bank
18th century BCE: In ancient Babylonia and Egypt, temples were pre-eminent places to store valuables, for no one dared to rob the sacred buildings. Babylonian priests also lent money in the time of King Hammurabi (18th century BC). The Babylonians were the first with an actual bank. 5th century BC: The ancient Greeks were merchants and needed a solid banking system. Therefore, in the 5th century BC, Athenian businessmen. Their money to the local bank, where they received a guarantee certificate with which they could collect it at another bank. This way they did not have to lug around heavy money boxes that could easily be stolen. The Greek banks also lent money to their customers and exchanged foreign currency. When it comes to choosing the best broker you can check Low Spread Forex Brokers.

Jews practiced prohibited professions
Middle-Ages: The medieval Catholic Church did not consider the profession of money lender appropriate for a Christian. In the 12th century, the Pope forbade all Christians to charge interest, preventing them from earning money from banking. However, the European monarchs had to borrow a lot of money to build and wage war, so they instructed the Jews, who were not forbidden by the Church’s prohibition, to lend money and in return offered protection. Most crafts were forbidden to Jews, and by lending money they earned a living. Because of their banking activities, they were looked at even more with the neck by the Christian population.

The modern bank originated in Italy
14th century: With creative accounting, Italian merchants circumvented the ecclesiastical prohibition on interest. In the 14th and 15th centuries, Northern Italian merchants succeeded in taking over much of the Jewish banking activities. They were not allowed to charge interest, but the Italians circumvented this prohibition by describing the interest as ‘gift’ or ‘reward for risk’ in their accounts. In Genoa, Siena, and especially Florence, the benches sprang up like mushrooms. In Florence, the De ‘Medici family made a fortune in loans. This gave her the say in the city and was even allowed to supply a number of popes. The Italians’ financial empires are seen as the forerunners of modern banking.

Nationalization in the 17th century
17th century: In 1661 Stockholms Banco was the first bank in Europe to issue banknotes instead of coins. But the company issued more notes than it had in silver and copper and went bankrupt. The state intervened and took over the bank’s estate in 1668. The institution that emerged from this still exists and is today Sweden’s national bank.

9,000 US banks go bankrupt
1929: Black Thursday, as is known on October 24, 1929. On that day, stock prices on the stock exchange on Wall Street in New York took a dive. Hundreds of thousands of Americans had invested in stocks, often with borrowed money, and that seemed like a safe investment. But the bubble burst and the financial crisis that followed killed 9,000 US banks.

Global financial crisis
Until a few years ago, the international investment bank Lehman Brothers had $ 691 billion in assets and employed 26,000 people. But the bank owed its success to high-risk loans, and 2008 went wrong. The financial giant went bankrupt, and a global economic crisis was the result. European pension funds lost billions of euros. Lehman Brothers were the largest, but by no means the only, bank to collapse during this crisis, and its effects are still felt today.

Important Facts about U.S. Motor Vehicle Insurance Polices in the U.S.Important Facts about U.S. Motor Vehicle Insurance Polices in the U.S.

As a general rule, motor vehicle owners must carry a minimum insurance coverage to cover potential loss, damage or physical injury involving an owned vehicle. In the United States, the laws prescribing the policies and guidelines for motor vehicle insurance tend to vary, as each jurisdiction take into account different considerations in formulating statutory motor vehicle insurance laws.

Motor Vehicle Laws Vary in Every U.S. Jurisdiction

While nearly all U.S. jurisdictions have legislated laws governing motor vehicle insurance coverage, the states of Virginia, New Hampshire and Mississippi have distinct laws that may or may not require vehicle owners to take out a car insurance policy. Below are the key takeaways of car insurance policies in the three states:

Virginia

The government of Virginia does not require car owners to obtain motor vehicle insurance, car owners are instead required to additionally pay the state Department of Motor Vehicle (DMV) an Uninsured Motor Vehicle Fee of $500 on top of the regular vehicle registration fees.

The additional $500 though, is not for the purpose of securing a state-provided vehicle insurance. In the event that an uninsured car figures in a car accident, the owner of the car is personally liable for any resulting property damages or bodily injury or injuries.

New Hampshire

In New Hampshire, obtaining a motor vehicle insurance is not mandatory. However, the exemption does not apply to car owners who have been convicted of serious misdemeanors such as Driving Under the Influence (DUI), hit-and run accidents or a second citation/ticket for speeding violation.

In cases when a car insurance coverage is a requirement, the vehicle owner must obtain a minimum amount of $25,000 third-party liability insurance per person, up to a maximum of $50,000 coverage; and a minimum $25,000 for property damage for every accident involving a motor vehicle. In addition, a required insurance coverage must include a minimum$1,000 coverage for medical payments.

Mississippi

The state of Mississippi requires all motor vehicle drivers to carry and maintain liability car insurance that is strictly in accordance with the prescribed minimum amounts of coverage required by the state. They are similar to New Hampshire’s, $25,000 third-party liability coverage for bodily injury or death per person, up to a maximum of $50,000 for death or total bodily injury plus a minimum $25,000 coverage for property damages.

Factors that Affect the Cost of Auto Insurance In Each State

Insurance information website carinsurancesnearme.com furnishes information about United States jurisdictions that have the most expensive as well as the least expensive cost of motor vehicle insurance. That being the case, the state in which a car insurance holder resides is a determining factor in evaluating the cost of insurance required.

As it is, while car insurance providers normally take into consideration the make of the vehicle, and the car owner’s driving history, age, gender, marital status and credit score, there are certain state-specific factors that insurance providers also consider in calculating their risk.

Examples of such factors include state insurance laws, crime rates, claim rates and the related statistics pertaining to vehicular accidents and number of uninsured drivers in the state in which the insurance coverage applies.

When such state-specific factors are present, calculation of insurance risks will also take into account the location/s where a car owner usually drives to as well as the frequency by which he drives to high-risk locations. When the risks calculations yield a high risk score, the insurance provider increases the monthly insurance premiums. Needless to stay, low risk scores correspondingly have lower monthly premiums.

Those being examples of factors that can influence the cost of a car insurance policy, Car Insurance Near Me suggests that when buying a new car, it would be wiser to shop around for car insurance policies that could cost lower than the car insurance policy will include as part of the sales deal.

Small Loans – What Are They And Where To Get Them?Small Loans – What Are They And Where To Get Them?

There are a lot of ways to obtain a small loan. Some are reasonable whereas others are costly. Some are easy to obtain while others a more difficult. Knowing what you need, where to find them, as well as how to obtain one is particularly crucial especially when you require immediate funds for unforeseen expenses.

In Norway, långuiden.no/smalan-pa-minuttet/ is a site you could visit as it provides a list of the leading and recommended banks in Norway that offers small loans with a possible loan amount of 1,000 kroner to 50,000 kroner. But there are banks on the list that even offer up to 500,000 kroner. Submit an application for small loans form the financial institutions listed on långuiden.no/smalan-pa-minuttet/ is easy and prompt as the requirements to prequalify and be approved are few. Hence, you could immediately get hold of the funds you need to finance your immediate expenses.

Small Personal Loan – What Is It?

A small loan, to put it in simple terms, is a kind of personal loan that does not need any sort of collateral. Hence, it is also called an “unsecured loan.” While there is no definite or set amount, the loanable amount will depend on the financial institution or lender and the type of small personal loan they offer.

Although small loans don’t require any collateral and only necessitate a few requirements to avail, qualify and be granted, the interest rates are usually higher because the financial institution or lender are more at risk than the borrower. But then again, some lenders or financial institution offer small loans with very favorable terms making it easier for the borrower to repay. However, as there are only a few options, it may be difficult to find a small loan with very agreeable terms.

Small Personal Loans – Where To Get Them?

While several lenders only offer larger loans, there are numerous places to visit for a small personal loan. Let’s have a look at some:

CREDIT UNIONS AND BANKS

Several traditional banks as well as credit unions offer small personal loans, wherein some begin with an online application however require you to personally visit their physical branch prior to the funds being released. Also, several credit unions offer payday loans that might help you obtain a small loan even thigh your credit score/rating isn’t good.

ONLINE LENDERS

A lot of lenders operating online specialize in unsecured small personal loans which you could make use of for just about anything. As they are internet-based, it is frequently easy to find out if you prequalify for a small loan. It might take a few days for the process and your application be completed and the funds to be transferred to your bank account.

PEER-TO-PEER LENDERS (P2P)

P2P lenders operate online and these online lending platforms match up borrowers with potential investors who are willing provide the loan. With P2P lending platforms, the interest rates are usually low and the process is quick. However, note that not every P2P lending platforms offer small loans.

PAYDAY LOANS

For really small loans, like $500 or eve less, payday loans might be an option. However, this type of loan is a very expensive choice because of the high fees tied to it. So, make this option your last-ditch effort if you aren’t able to qualify for small loans elsewhere.

LINES OF CREDIT OR INSTALLMENT LOANS

Several online lenders and traditional financial institutions offer lines of credit loans or high-rate installment loans with high fees or interest rates that could range from 60 to 199%. Although these types of loans are cheaper compared to payday loans, this should also be your last option because of the high interest rate which could make it really difficult for you to pay off.

It’s always best to shop around and compare requirements, conditions and terms when looking for a small loan.

Binary Options Trading : Gaining Popularity Amidst COVID-19 CrisisBinary Options Trading : Gaining Popularity Amidst COVID-19 Crisis

Investors are gradually turning their attention to binary options trading instead of venturing into stock markets, because world economies are still in a limbo.

Obviously, the effects of the COVID-19 pandemic have struck nearly all industries in many countries. On the other hand, price per share of those benefiting from the COVID-19 lockdown measures are too high for comfort, at a time when there is still uncertainty on how economic fallouts can be resolved.

What Makes Binary Options Trading Attractive to Prospectors?

Binary options trading involves speculating on the future price of an investment asset, e.g. foreign currency, cryptocurrency or precious metal. The method is simple; an investor speculates if his investment asset will reach a price that will generate an expected yield or not.

By the way, this trading method is called binary because an investor has only two propositions to decide on; either a “Yes” or a “No” answer on whether he believes his investment asset will hit a price that will yield gains or not.

Outcomes or results are fast because binary options trading transpire within a specific period only, which can expire in as short as 60 seconds. An investor’s yield however, is based on the price he speculated, without any option to sell his investment asset at a potentially higher price. Winnings will come from the investment asset of the binary options trader who speculated on the opposite proposition. In some cases, the broker who offered the binary options trading deal, acts as the opposing party.

Apparently, there’s a high degree of risk involved, because if the investor is on the losing end of the “Yes” or “No” proposition, he stands to lose the asset invested. That is mainly because there is no actual buying and selling involved; only an exchange of price speculations. It is actually similar to placing one’s investment asset as stake to a gambling proposition to bet on a high or low number.

Reducing Risks on Binary Options Trading

If there is a great deal of risks involved, then why is binary options trading gaining popularity?

Apparently, there are ways to reduce risks in trading with binary options, and it starts with choosing the right broker. That being said, the next question that would be posed by those contemplating to participate in binary options trading is, “Who is the right broker?”

First off, consider only duly registered brokers offering this type of trading in the country where one is located.

Let’s take one of the most popular brokerages offering binary options trading, IQ Option Europe Ltd.at ipoption.com. This broker is registered with European Economic Area, the organization of European countries, not necessarily members of the European Union, but involved in facilitating European market trade. IQ Options Europe Ltd. is also registered with the Cyprus Securities and Exchange Commission (CySEC), which closely and seriously monitors unfair market trading practices.

The next aspect to look into is if a broker provides prospecting investors with a demo software. That way, customers can practice not only how to trade on futures,but also how to analyze the binary options trading market and the underlying conditions. All of which can help a newbie gain confidence by becoming completely familiar with how trading on binary options work.