The Rise of Online Auto Insurance Policies

Brooklyn car insurance agent is among the jobs that are threatened by the advent of Internet.

Technology startups, and several insurance companies, are launching websites that sell and promote a wide variety of insurance policies such as auto, homeowners, and other commercial policies. These companies that promise huge savings through showing consumers price quotes that don’t have to shop from one site to another; these are putting great pressure on insurance agents who collect at least 10% from the payments of policyholders. (more…)

The People Need Innovative Lending Services

It is still too early to see the impact of the payday lending price cap since the new rules were just implemented on January 2, 2015 but some small players already left the industry while the main lenders such as Quickquid, Wonga, Payday UK and Uncle Buck payday loan direct lender are now charging the new price cap level. So, the annual percentage rates are not the usual 4,000% but limited to 1,200% even if the actual costs on a typical £200 payday loan for two weeks only dropped by 1 pound each week.

The consultancy Policis showed the experience of the US payday loan caps, they found out that the supply of credit has been limited but the demand has not been reduced. The online illegal lending is also booming, six out of ten loans were obtained through unlicensed or illegal lenders. With the price cap, the brick and mortar payday loan lenders in the US have moved online which the public is warned the online payday lenders will grow in numbers. This is true with the UK scenario, 80% of the payday loan market are online. The FCA accepted the fact that the new price caps would limit some borrowers’ access to finance and they hope that many people will count on family and friends for financial assistance. The research of the Policis suggests that the position of the FCA is not credible and warns the consumers of the UK on the developing illegal credit market. (more…)

CMA: Loans Are Not Competitive

According to the regulators, payday lenders have weaknesses, one of them is the lack of price competitiveness. This is the reason why customers may pay too much. In an investigation conducted by the CMA (Competition and Markets Authority), they found out that the lack of competitiveness can add an average of £30 to £60 to the bill of every customer each year. They recommended that there must be an establishment of an independent website for price comparison and will tell lenders to make the costs of borrowing clearer. The trade body of the lenders is supportive of this proposal too.

The CMA chairman said that getting a payday loan when money is tight should not compel borrowers to pay way too high than what is necessary. It should be noted that the average income of customers is similar to the entire population but in reality, access to credit options are not similarly offered to all, other people have limited options. In some cases, the borrowers who pay extra costs and charges are also those who can afford. The late payment fees are hard to predict and most of the customers cannot anticipate.

Getting a loan at any payday loan is not often a bad option, there are lenders that have clear policies to avoid misleading their customers like the QuickQuid, in fact, they have QuickQuid promo code to help every customer. Choosing this lender gives you options which are not offered by other loan companies, for instance, they do not require to instantly pay the loan in full with additional interest after two weeks. They are more flexible and give two payment schemes, for thirty days or sixty days. This strategy helps customers to avoid paying huge interest and other fees because of late payment.

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UAE: On Financial Education

Ambareen Musa of UAE became a little frustrated because she bought a new car in Dubai and when she received her bill for her monthly payment, she was surprised with the amount. She was actually paying $140 more than her expected monthly installment and wanted to know the exact reason why.

She called the loan officer first and after looking into the issue, he couldn’t give an answer; even the manager didn’t know as well. After about 3 months, she decided to go to the head office and she was referred to the London headquarters, which is a very large international bank.

compare guarantor loans

She got her answer eventually and learned the difference between a flat rate and a reducing rate; this is primarily the reason why it is important to compare guarantor loans and understand their terms and conditions. With that, she realized that there is a lack of financial education in the UAE for which she said, “People didn’t understand the basics about money.”

And with that, she created a company. Entrepreneurs, like Musa, have that inkling need of solving this problem in the society. After working for 15 years in the banking sector as management consultant, she realized there is a great need to be educated the people of UAE about handling money.

Musa launched Souqalmal, which is “money market” in Arabic. Souqalmal is a comparison website that aims to help residents in UAE to save time and money in comparing loans, mortgages, credit cards, and other financial products; having a tagline that is, “Compare before you say ‘I do’”.

Musa said, “We want to build awareness, to help people understand finances and have a vision. We want to be the number one financial educator of the region.”

“Comparison is non-existent here, unlike in the US. The goal is to put the consumer in the driver’s seat. In America, there are sites that compare credit cards, loans, and other financial products, such as LendingTree, MoneySuperMarket, and Bankrate,” she added.

In her home country (the UAE), her primary goal is to generate awareness in a society that only has little financial transparency. Take for instance, there are 50 banks in the UAE, “Many people don’t understand the banking industry here, and the difference between certain terms,” Musa said, citing the previous example of the differences between reducing rates and flat rates.

Her timing is on the dot since there is greater focus on the issue as time goes by. As a matter of fact, there is also an urge in the region to teach the public, such as in Saudi Arabia, where she also launched Souqalmal. Her primary goal is financial education, teaching the society to read the smaller print and learning about hidden fees. She said, “You don’t know what you don’t know.”

Apple Sells Massive iPhones In the Last Quarter of 2014

In the last quarter of 2014, it is all about iPhone. At the beginning of 2015, Apple announced they have huge sales in the last quarter of 2014; they sold 74.5 million units compared to 51 million units in the last quarter of 2013. Also, in the last quarter, the company shipped their one-billionth iOS device. Together with the massive selling of iPhones, it is also expected that revenues hit record high. In the last quarter, they had a revenue of $74.6 billion and profit that reached $18 billion compared to 2013’s revenue of $57.6 billion and profit of $13.1 billion. Of the total revenue, 65% came from outside the US and $16.1 billion came from China alone.

With this, Apple’s cash on hand is a whopping $178 billion and after the news, their trading is up. To give you a break-down of their product line’s sales, here they are:

  • iPhones – sold 74.5 million units and a revenue of $51.2 billion
  • iPad – sold 21.4 million units and a revenue of $8.9 billion
  • Macs – sold 5.5 million units and a revenue of $6.9 billion
  • iTunes and apps – Earned a revenue of $4.7 billion
  • Others – Revenue of $2.7 billion

According to the CEO, Tim Cook, the earnings signalled the support of over 750 banks as well as credit unions for Apple Pay, 2015 is going to be the year of Apple Pay and there will be an enterprise partnership with IBM and developer adoption of Health Kit and hospital partnerships.

James Agate

On the other hand, CFO Luca Maestri said that the sales of iPhone doubled in the countries of China, Singapore and Brazil and the ASP of iPhone is $687 which leads to the 57% revenue growth. Also, they are working with about 375 carriers worldwide. The Mac sales have increased by 14% which can be translated into revenue of $6.9 billion while iPad sales went down compared to the figures of 2013 but still, it delivered revenue of almost $9 billion.

Considering the very high sales of the iOS device, this also means that this is the best time to develop internet marketing agencies. If you are interested on how to go about this matter, you will not have a problem as there are experienced and skilled people and companies to help you develop. One of the most influential people when it comes to helping digital teams is James Agate, the founder of Skyrocket SEO, they are delivering creative, consultancy and link building services. Skyrocket has an impeccable reputation in delivering valuable content, high-quality links and expert advice to achieve a long-term positive impact on your business, clients or search engine rankings.

Another venue to learn from the experts in today’s digital world is by attending the BHW Conference. You will gather insights from entrepreneurs, gurus and leaders who are shaping the industry’s future. The conference will also give you networking opportunities to take advantage of the increasing sales of mobile phones around the world; this may give your business opportunities to work on.

How to Ensure You Are Trading with a Legit?

The concept of Binary Options trading is so easy, you opt if an asset is going rise or fall within a fix time period and if you’re right, you get a fixed sum in the region of around 180%. In trading binary options, he or she thinks that the fundamental asset would end greater or lesser than the strike cost at the set deadline. This can be at the end of the closing hour, day, week or even month. Binary option trading is very flexible since it comes with numerous choices of a number of expiry dates, a mixture of underlying asset that will permit you to trade on the web.

If you as a trader think that the asset cost will increase, then you may select ABOVE and if you think that it will go down, then you may opt BELOW. The outcomes of the imminent forecast of the buyer would be stated on the expiration time.

Nowadays, online binary options have become extremely in demand in financial markets as these tools let the buyer to trade easily and without any hardships that can be experienced in offline trading options. High payouts can be attained in just less than an hour.

A lot of people these days are getting themselves involved in binary options trading to maximize their income without having to invest more. Binary options trade is away to have protected income. If you have the capacity of forecasting the price trend of any asset type, be it in a commodity, index, stock or currency, then your success is ensured. You must be very vigilant in trading, as great risk is involved. However, there’s no risk-free trading. So you should trade only if the risk can be manageable, but the income that you can get in binary trading is way greater than any other. Prior to taking any step, it is highly advised to take advices and suggestion from experienced brokers whose knowledge are advance and can aid you in making a profit.

binary options comparisons

Opting for one is indeed a tough task, that’s why you need to do binary options comparisons. You should compare the services each has to offer, read on some review and check on the level of customer support.

Is A Career In Finance Right For You?

Accountants do much more than crunch numbers all day and their role is much more important to their company than many give them credit for. If you are good with numbers and want to enter the world of accounting, you’ll want to have at least a bachelor’s degree in accounting or a closely related field. Accountants that will have a distinct advantage are those that have professional recognition through certification, proficiency in auditing and accounting software, or a master’s degree.

Keeping business accounts up to date does represent one area of accounting, efficient businesses will aim to keep all of their public records and internal accounting records up to date. However, many accountants will usually start in situations where the books or finances may have been neglected or managed badly.

For any would-be accountants there are a variety of positions available in different sectors. Governments, charities and corporations fall under the umbrella of public accounting and typical tasks for an accountant in these sectors can include dealing with a fair amount of tax related matters, consulting and monitoring financial transactions. There can also be a degree of auditing involved, so this is a good area to aim for if you like variety.

If you enjoy working with big accounts and have the desire to break data down into the finest detail, working as an accountant for the government, national or local could be able to give you that opportunity. A lot of money across many different transactions can flow between government agencies and so require diligent accounting. An added advantage of working for a government department is that it can provide the chance to work within different departments, add variety and the opportunity to work with lots of different people.

If accounting isn’t quite what you are looking for, then a position as an internal auditor could be a viable alternative. Internal auditors verify the accuracy of records within a business, their processes and internal workflows. Often an auditor will get down to the tiniest detail of each and every record, transaction and action. When this information has been collated it can then be reviewed to make improvements on not only financial matters but also overall work force efficiency.

Accountants can often be found working predominantly in offices so if you are not taken by working indoors, in front of a computer or in an office it may not be the best suited career for you. The hours accountants work do vary from job to job but the average is usually around 40 hours a week.

Accountants and auditors also engineer internal control systems and analyze financial data. Others positions in which accounting training is necessary are appraisers, loan officers, budget officers, financial managers and analysts, bank officers, purchasing agents, actuaries, underwriters, tax collectors and revenue agents, FBI special agents and securities sales representatives.

Golf Cart Insurance

Murphy’s famous law says, “Anything that can go wrong, will go wrong”. Based on this pretext, what If we are ready with some insurance policies in our hand, that may at least compensate us for the monetary losses incurred from any tragic incidents. While personal and emotional losses are best healed with time, some financial support is surely going to preserve the future. Though golf cart insurance is not as common as home or car insurance, it is still considered by many as a better way to get things in order, in case an accident occurs. And why not, insurance is meant for this very purpose, so why not benefit from it?

Golf Cart Insurance

Who Needs It?Will you ever take the risk of driving your car on the freeway if it is not insured? Well, though you are not going to drive your golf cart on a highway, its insurance can still save you from financial losses. Golf grounds, golf clubs, and players, all must make sure that the carts are insured. All necessary documents must be carried in the vehicle itself. If you use your personal golf cart, often called street legal golf carts, then do insure that too.

What to Look For?There are various parameters that you must consider before opting for a policy.Look out for year round policies. If you are paying the premiums on a quarterly or half-monthly basis, then the charges and interest may be more. Try to take a year round coverage, and be relaxed for the whole year.Check out if the insurance firm is giving coverage on safety apparels. It is better to take a policy from someone providing facilities like safety jackets, helmets, and gloves, for driving your golf cart.Often, towed trailers are required in big events, that are attached at the back of golf carts to carry extra material like food, etc. See if the policy covers these trailers too.Check out their plans for suitable benefits, in case of collision with an object or humans. Property damage coverage and life insurance due to accidents are part of different plans, in most companies.Choose a firm that offers for increased limits on your golf cart liability insurance.The insurance is also provided in cases of fire, adverse weather, and theft.

Golf Cart Insurance

The policies also cover important regulations, like no third party should take undue advantage of the accidents and claim the money. Except the authorized owner of the golf cart and its nominees, nobody else is allowed to claim the insurance money, except on the consent of the owner. It is generally advised to go for a golf insurance, rather than golf cart insurance, as the former offers more comprehensive packages as compared to the latter. In a golf insurance, you can even claim money in case of any accidents that can occur on the golf course. Also, a golf player is liable to pay you the necessary penalty/charge, in case he accidentally hits you with his/her golf shot. The golf insurance will also give you coverage for your equipment and the prizes that you win in the due course of events.

Remember, insurance companies are not liable to pay you the insured money in the case of accidents that you and your golf cart may encounter outside the premises of the area mentioned in the legally signed documents. For instance, if you are using your golf cart in the vicinity (outside on road lanes, park area) that is not covered under the insurance policy, you may not get any money at all.

What Are Bridge Loans And How Do They Work?

Bridging the Personal Loan Gap

There are few situations where an individual may consider taking a bridge loan. In most cases, these loans are used when there are two pieces of real estate involved; one that is being purchased and one that is being sold. A typical scenario is exactly as described above; however, some other options may be:

What Are Bridge Loans And How Do They Work?

Purchasing a business: In some cases, a homeowner who has a great deal of equity may be considering purchasing a business. While they are waiting for a business loan to be complete, they may elect to take a bridge loan. This would mean the lender would have a lien on their personal property while the loan was outstanding;

What Are Bridge Loans And How Do They Work?

Land acquisition expenses: Some people who have decided to purchase land and have a home built may find that obtaining land and a construction loan is a longer process than they originally anticipated.

What Are Bridge Loans And How Do They Work?

In this instance they may have other assets such as investment property, securities or cash value in a life insurance policy that would allow them to accept a bridge loan. This is an atypical example.

Because interim financing often involves high interest rates, there may be better options including home equity loans, loans against life insurance policies or personal loans. In extreme cases, interim financing may cause more financial problems than they help solve.

Understanding the risks

One of the challenges that these types of loans create is that because of the higher interest rates that are associated with them, the monthly payments could be burdensome. Additionally, there is no guarantee as to how quickly a home will sell or a construction loan will be complete.

The overall cost of a bridge loan can be staggering if it is not paid back within a short period of time. In addition, since these loans are typically good for only one year, a homeowner who is unable to sell their property may be facing foreclosure if they are unable to sell their home.

Is Self-development an Investment or a Cost?

With the systems and technology that are being used on a wide scale comes the need for this continuous sharpening of the skills in the workforce. The people simply need to be more educated and that process is distinctly different from traditional training. While a well-trained workforce will beat an untrained workforce, a well-educated workforce will beat a well-trained workforce hands down.

This activity is no longer for the new employees or for specific needs from time to time. It is now a never-ending requirement.Why Self-development?

Unfortunately the current hard times have shifted this burden over to the people themselves. While organizations have been forced into necessary cutbacks due to business conditions, this need for people development has not diminished. Those who have taken it upon themselves to continue their education on their own are certainly moving to the head of the class so to speak when it comes to being selected for new job opportunities.

While it would be nice, the simple fact is that people can no longer depend on their organizations to provide the necessary educational opportunities for them. Instead they expect and reward those who take the necessary preparation steps on their own.

A somewhat hidden benefit for those who take the time, trouble, and financial resources to prepare themselves is their mobility as this space at the top of the educational pyramid demands what they have learned. Continuing hard times will make this more apparent as organizations must continue to be frugal. Those who have prepared themselves will get to choose from a wider array of opportunities both within and without their current organization.Is Self-development an Investment or a Cost?

It is interesting that some will not think twice about throwing some money into a risky investment in the stock market but will wince at the thought of investing in their own education.

Those people who will weather this economic storm though are to be those who opted for the second choice. The harsh reality of today is that those who do not invest in their own preparation are less likely to keep advancing during hard times and are certainly likely to be left behind if business picks up again.

In particular those who devote time and energy to further education and development will:Be better prepared to deal with the challenges their organizations will faceBe more productiveHave a broader range of skills to allow them to work across different departmentsIn some cases, garner qualifications that are nationally accreditedDevelop more professional competenceIncrease their earning potential.How Can Organizations Assist in This Process?

One thing an organization can do to help the people along their own developmental path is provide a clear list and description of the competencies it needs in all areas and at all levels. In addition to this list it can also provide a list of educational resources with contact information for those interested in doing this development work.

While this burden is clearly on the individual today, organizations can help by encouraging their employees to take control of their education and professional development. It may take some time but once people start to appreciate that those who prepared themselves are moving ahead with their careers, that recognition will start to spread to others.