Bank Interest Settlement Calls Time on QE

Lincoln memorial cent, with the S mintmark of the San Francisco mint. (Photo credit: Wikipedia)

Well before American sub-prime debt imploded five years ago, sceptics (castigated as cynics at the time) were questioning the AAA ratings attached by US agencies to packages of individually dodgy loans. Since Lehman Brothers' demise and the subsequent global financial crisis the rating agencies have leant the other way, eager to demonstrate fearless rigour in their risk assessments by downgrading countries right, left and centre. The European Union, having become increasingly upset by the downgrades gratuitously dished out to its blameless members, has decided enough is enough. Henceforth, American agencies can downgrade European sovereign debt no more than three times a year. They must also give Brussels a day's notice of their announcements. And if they fail to comply, well, they will be very very naughty.

The EU would have derived little benefit from advance notice of Friday's economic announcements. Euroland's current account surplus in May was a seasonally-adjusted €19.5bn, down by a quarter from the previous month. Italian wages were up by 1.4% on the year, almost keeping pace with Euroland inflation. UK public sector net borrowing rose to a lower-than-expected $10.5bn in May. Headline Canadian inflation rose to 0.7% while core inflation (ignoring fresh food, fuel, tobacco and mortgage interest) was steady at 1.1%. Canadian retail sales growth remained slow, up by just 0.1% in April, and would have been negative if not for higher car sales.

Only the Canadian dollar showed any reaction to the day's data. The Loonie lost a cent to the US dollar, contributing to a loss of three cents for the week. It touched its lowest level in nearly two years against the US dollar and came close to the lows against sterling that it clocked in December 2011 and May, October and December last year. For more information on currency exchange please click here.

The euro was resilient in the face of news that the coalition in Athens was being rent asunder by a spat about funding for the state broadcaster, ERT, and that EU finance ministers had failed to reach agreement on a plan for restructuring and rescuing banks. It held its own against the Swiss franc, the Japanese yen and the pound but lost a cent and a quarter to the US dollar.

An unlikely grouping of the US dollar, the antipodean dollars and the South African rand delivered Friday's best performances while the northern Scandinavian crowns were hung out to dry. The Norwegian krone had a second difficult day while the Swedish krona played catch-up with the day's biggest loss, -1.5%. For more information on international money transfers please visit the Moneycorp website.

This week gets off to a slow start with Italian consumer confidence and balance of trade, German business confidence and the Chicago purchasing managers' index. That will give investors oodles of time to ponder the annual report from the Bank for International Settlements (BIS). It calls on governments to undertake a "forceful programme" of "repair and reform" to restore global economic normality. At the same time it advocates turning off the tap of quantitative easing and calling a halt to the "whatever it takes" mentality among central banks. Whilst they have bought time for governments to get their acts together, "central banks cannot solve the structural problems that are preventing a return to strong and sustainable growth". Mr Carney, you have been warned.

Technical Levels
	EUR/USD		GBP/USD			GBP/EUR
Resistance:	1.3175		1.5450			1.1795
Support:	1.3000		1.5220			1.1630
Major economic releases due today
	LAST			EXPECT
German IFO Business Climate	105.7			106.0
Sterling Today
Euro		1.1720
US Dollar		1.5365
Australia Dollar		1.6740
Canadian Dollar		1.6140
New Zealand Dollar		1.9880
UAE Dirham		5.6425
Swiss Franc		1.4370
SA Rand		15.75
Yen		151.07
		Date (e.g. 24/2/11)			Time (e.g. 16:27)
Indicative rates as of		24/06/13			08:45

Wanted Ideal Retirement Home: What to Consider Without Hurting the Budget

retirement (Photo credit: 401(K) 2013)

After retirement, we often feel the urge to settle in a place away from the hassle and noise in the city. Retirement is when we take charge of our time and being able to enjoy laid back moments with our family or partner. No more workloads to accomplish and no need to rush to the bus stop. 
Finding the most ideal retirement home is an essential factor to truly enjoy your retirement. Obviously, you have longed to relax in the comfort of your own house and make the most of the fruits of your labor. Thus, it is vital to take into account several factors in hunting for the best retirement home. 

It’s All About the Money!

Yes, budget is the primary thing to consider when looking for a home. It’s already given. But, is it possible to find what you desire without hurting your budget? Are you going to buy a retirement house with all the luxuries, then making you broke in the end? If you are clever enough, you can get what you want at the right price.

What to look for:

● (Affordable) Dream Location - Do you want to breathe fresh air from the sea? Well then, beachfront retirement home is perfect for you. However, most retirement houses nearby the sea are quite expensive specially if you are thinking of well-known place like Miami. Sparkling blue water and peaceful swells - if you desire for these kinds of scenarios, look for unexploited places with enchanting sea view. Often times, less popular locations boast beautiful beaches and are more affordable.

On the other hand, those who want to enjoy country life can easily find low-cost retirement homes. Whether you want to be close to nature or you just want to distance yourself from the city life, there are many houses you can buy in smaller towns. If you have a dream location, carry out a thorough search in the entire area to find cheaper options. No sweat, you can use the internet in searching.

● Safety Measure - When looking for a retirement home, check the background of the community. Search about the crime rate in the area. Does burglary always takes place? Then it’s a big No-no. You cannot afford to risk your safety just because of a cheap retirement house. Is the neighborhood peaceful? Visit the place and observe the vicinity. Safety is an essential aspect that should never be neglected. Retirement home should be a place where you can sleep soundly at night without any worries. You don’t wanna waste your hard-earned money in a home that is not safe.

● Accessibility to Recreation Venues - Many housing developments these days can be considered as retirement houses. Some seniors want to settle in a community where they can mingle with other people (not just those they have known since they were in fourth grade). If you love to play golf, search for communities with golf course. In case you enjoy strolling at the park every afternoon, there are housing areas with leisure parks. What sort of recreation activity you enjoy the most? Look for it in the place where you want to spend your retirement. Every single penny you shell out will be worth it if you can enjoy great amenities.

In general, a retirement home should give you a tranquil life. There are many options you can think of: Buy a stand-alone house in a rural area (or urban if you still love the city life) to live independently. Otherwise, you can opt to retire in a housing community, such as Lincoln Military Housing, where you can meet new people. Keep in mind when you know what you want, it will be easier to find your retirement home.

Ways To Save Money On Your House Insurance Monthly

Are you tired of receiving a hefty home owner's insurance bill in the mail each month? If so, then you might be wondering what you can do to cut down on your home insurance premium and enjoy immediate monthly savings. Aside from shopping around for deals and discounts from other insurance companies, the good news is that there are some simple tips you can try out as a way of reducing your monthly home insurance costs. Not to mention, some of these tips can even increase the overall value of your home in the process.

Switch to Paperless Billing

Many home insurance companies these days offer a discount for policyholders who switch to paperless billing. After all, not only does this save the company money in printing costs, but it also saves trees and eliminates paper waste in the process! By switching to a paperless bill statement from your insurance company, you can simply receive this paperwork via e-mail, which you can then print out if needed.

Work on Your Credit

Believe it or not, insurance companies these days use one's credit score and credit history as a determining factor when it comes to the cost of one's insurance premium. Therefore, if you have less than perfect credit, consider taking steps to gradually increase your credit score over time. Doing so can lead your insurance premium to drop by a few dollars per month, which can add up to significant annual savings.

Update Your Home

If you live in an older home, then you are inherently at a higher risk to ultimately have to file a home owner's insurance claim. For this reason, owners of older homes cost more to insure. Fortunately, by making small updates, such as having new electrical wiring installed or better ventilation systems, you can drastically reduce the cost of your home insurance. Just be sure to report these updates and renovations to your insurance agent right away so that you can begin enjoying the savings.

Make Your Home Safer

If you do not already have some kind of security system in place, you may want to consider having garage alarms for home installed as a way of increasing security and reducing the chances of becoming a victim of a home invasion or burglary. Not to mention, most insurance companies offer substantial discounts for those who have security systems in place, so you can save money on your policy this way.

Bundle Your Insurance Policies

If you have other forms of insurance, such as vehicle or boat insurance, then you may be able to save a significant amount of money by bundling those packages through the same company. Check with your home owner's insurance company to see if they offer the other type or types of insurance that you need, and then take advantage of any bundling discount they may have.


Paying for home insurance can be a pain, but there are plenty of ways to reduce your monthly costs without sacrificing coverage in the process.

How to Choose The Right Car Insurance

When it comes to selecting a car insurance provider, it is important to compare and assess the many factors that are in play. It can be daunting to sort out all of the factors as each company claims to give the most discounts, the best rates, and the best customer care or perks. Selecting which company to go with can involve abundant amounts of research, but not many people know what to look for. 

FindTheBest, an unbiased, data-driven comparison search engine, has developed some tools that may help you with your car insurance search. This post will breakdown some of the most important factors used to compare car insurance companies and will educate you on how to select the best fit for you. Please feel free to test out the interactive tools included below, as they can help you narrow down your search results and create side-by-side comparisons for insurance companies that fit your needs best.

Car Insurance

Comparison Factors 

1. What You’re Currently Paying 

Although it may seem obvious, it is easy to overlook what you’re paying now and exactly why you are paying that amount. This should be your first step in selecting a new auto insurance provider. Understanding your rate is essential to buying car insurance. Every year your car insurance company sends out a comprehensive policy breakdown that shows what you’re paying and what you’re getting for your money. If you do not know where this document is, you can request a copy from your insurance agent. This step is essential in your hunt for a new car insurance provider and will help lead you in the right direction to what you are ultimately looking for. 

2. Amount of Coverage You Actually Need 

You now understand what you are currently paying for, but what coverage do you really need? You must answer question like, how much is your car actually worth? How much do you drive? Do you have long commutes or can you walk to work? Car insurance covers more than the cost of the car, it covers liability such as medical fees and legal fees. It is also important to understand the deductible. A higher deductible can be a headache if you actually get in an accident, but can eventually save you money long-term. If you rarely get into accidents, it would be wise to lower your premium and set aside funds for emergencies to cover the deductible. 

3. Hidden Fees 

Insurance agents will tell you all about the great discounts you can receive, but rarely do they divulge the hidden fees. These fees require a little more research than usual. Car insurance providers tend to charge you more if your marital status is either single or divorced. The easiest way to identify these fees is to run a free quote, and then running a second free quote with a changed marital status. If the quote is different, you know there is a hidden fee. Other examples of hidden fees include, the type of car you drive, where you live, where you work, and your credit rating. 

4. Best Deals Offered 

FindTheCoupons, a FindTheBest site, was created to make your life easier. Finding a coupon for car insurance should take no longer than a few seconds of your time. FindTheCoupon can help you find great deals on car insurance companies and will further assist you in finding the best fit for your next provider. This resource will allow you find affordable car insurance and provides user reviews for the coupons offered. 

5. The Car You Drive

Cars Ratings and Reviews

One of the biggest factors that car insurance companies consider when determining your rate is the type of car you drive. It is often assumed that your rate is correlated to the value of your car, but it is also related to how likely your car will inflict damage on another vehicle, or how likely your car is to get stolen. 

Other factors include how safe your car is and how much repair costs would amount to. It might be wise to keep this in mind when shopping for your next car. Some car insurance sites provide lists of cars and how much they cost to insure them. As long as you do your research on safety ratings you should be in the clear. 

It is always smart to consult with your agent if you need any questions answered. Searching for your car insurance provider can be a tricky topic and with the tools and tips provided in this post, you will be able to find and compare the best insurance options available.

Are You Missing Out by Not Knowing About Wealth Management?

Finance (Photo credit: Tax Credits)

In this day and age, it’s never been so important to know who to make the most of your money. Maximising your cash flow and taking care of your finances is advisable when the economy is good, but in these hard times it’s become an absolute necessity. Yet, large numbers of people still remain in the dark when it comes to assessing and managing their wealth.

Why Should We Look After Our Finances?

Looking after your finances has numerous benefits, including giving your wealth the opportunity to grow. On the other hand, not taking care of your finances can have devastating consequences. For this reason alone, it’s advisable that you get clued up about the best way to take care of your money, and the best way to start is by learning about wealth management.

How Does Wealth Management Work?

In its simplest form, wealth management is the process by which financial planning, advice, management and investment are all corralled together under the same heading, with one purpose in mind – to maximise the assets of the client in question. However wealth management is much more complicated than this, and requires significant time, knowledge and effort to be applied correctly. If wealth management is carried out properly by an experienced financial advisor, this can result in a significant return for their client. If you’d like to find out more about how wealth management can benefit you directly, you should visit www.spi.sanlam.co.uk for more detailed information.

Which Areas Does Wealth Management Cover?

Wealth management is a large and complex practice which can be effectively utilised across multiple financial products. These may include:

• Pensions and Annuities 
• Savings and Investments 
• Stocks, Bonds and Shares 
• Portfolio Management

The specific type of wealth management you may need will be entirely dependent upon which financial products you already own, and your proposals for future investments and savings. If, for example, you are coming up to retirement age, you may need advice on how to maximise the value of your pension. Alternatively, if you are a young professional who has just received a promotion, you may be interested in investing your newly increased salary across various different trading options.

Wealth management services also differ between locations. Wealth management companies in London, for example, will be more likely to offer a broader range of international investment services than a smaller, regional company. Clients with small portfolios and limited resources often prefer the personal service of a smaller company. However clients with large portfolios and a significant amount of capital would be wiser to choose a larger, international company, which is more likely to be able to diversify their investments across a wider range of options. 

Advice and Information on Wealth Management

If you’re interested in the idea of investing in wealth management, or simply want more information but don’t know where to begin, it’s always advisable that you get in direct contact with a professional wealth management services provider, such as Sanlam. Their financial experts are always on hand to help you make a decision about whether or not wealth management is right for you.

Direct Debits You'll Need to Update When You Change Bank

I recently opened a new current account when I realised that a different bank could offer me a better interest rate as well as other benefits such as travel insurance. I think a lot of people avoid changing their bank account due to the admin that often comes with it though, such as filling in forms, attending appointments and then considering the actual money side of it too. This includes getting an employer to pay your salary to your new current account, as well as figuring out which direct debits are set up to your old account. Some banks will now help you change all of your direct debits, but if you are required to do this yourself, these are the types of services you might need to update...

Charity donations

Many of us have recurring payments for charities scheduled by direct debit each month. Changing bank account is an ideal opportunity to look at the donations you currently have set up, before analysing whether you want to continue giving the same amount. If you are happy with what you’ve previously set up, you should be able to set up a new direct debit schedule from your new account; remember to cancel the existing agreement.

Mobile phone

If you have a mobile phone contract, this is more than likely set up as a direct debit. It’s important you don’t miss this payment as you may incur charges for having a failed payment attempt. Therefore you should call your mobile phone provider if you will not have a new payment schedule in place on time and they should let you make a manual payment instead. Of course, if you’ve timed the expiration of your contact with the opening of your new bank account, you could look at new mobile phone deals online and simply set up a new agreement with the provider.

Satellite TV

Another service you may have is that of satellite TV such as Sky or Virgin Media. If you depend on these services so you can watch sports channels and more, you’ll want to make sure that you remember to update your payment with your provider. Again, make sure that the original agreement has been cancelled so you do not incur any charges with your old bank. You might even want to consider finding a service that doesn’t charge you monthly, such as a freeview box which just requires a one-off cost.

Energy bills

Many of us pay our energy bills through direct debit agreements, so make sure you check how your own bills are currently paid. Think about electricity, gas, water and even your council tax. If there are going to be any problems with making a payment quickly, it is a good idea to call each of your energy and utility suppliers as you can make alternative arrangements for payment. If you are going to call, you could also give them your latest meter readings to make sure that your payments aren’t too low or too high.