The Benefits of Having a General Circulation of Bitcoins

Bitcoins may not be the first attempt at making an electronic currency, but its flawless system of money production through solving algorithms and other features are making it more popular all over the world. If Bitcoins went into general circulation, here’s what can happen.

1.    Defense Against Inflation

Bitcoin might have a very high exchange rate, but another feature it has is that it could defend investors from monetary inflation in their own national currencies. You could just exchange your actual money into bitcoins and use it to buy items the following day when the numbers become better.

2.    No Transaction Fees

The Internet is fast becoming a means to buy and sell items from international merchants and individuals, but the industry is bleeding because of the high but fair transaction fees banks and financial institutions impose. Bitcoin allows for digital exchange directly from the buyer to the seller without any fees.

3.    Secure

The bitcoin network records all bitcoin transactions and each is secured with an encryption. The encryption allows no trace of the financial record, but it validates that the purchase had been made.

4.    Future

People have been using cellphone credits to pay for certain items in the past. Some countries use their call minutes on their mobile phones to exchange items. Bitcoin is doing the same thing. With a decentralized currency and great rewards for “miners”, bitcoin is a better future currency than anything else.

UK PPI Complaints Really Work for the Economy

It is actually great to hear that UK lenders are recognizing consumer needs given they are allocating additional refunds for mis sold PPI on loans, mortgages and credit cards. The current refund bill might increase more than £20 billion according to experts, but today, Lloyds takes half the bill of £13 billion with a total of £8 billion in compensation.

However, according to experts, the PPI refunds actually works better than the usual quantitative easing and tax refunds. They said that people are due an actual windfall, which they take and use to their advantage. Unlike tax reductions and returns, these are not offset to the following time they pay their taxes; they get to spend the money as they wish.

The  Office of National Statistics also showed a 13.4% increase in the number of car registrations in the first half of 2013. More than 25,000 vehicles were registered to many UK consumers. Experts are also observing great activity with consumer confidence increasing in local and regional economies.

I noted that many of my friends who reclaimed their refunds, usually going about £3000-5000 for some of my friends, are planning to use the money to fix certain parts of their homes or even to new businesses.

Indeed, UK PPI complaints, when refunded, actually work for the UK economy. It helps knowing that you are due a windfall that is unexpected in a basic monthly budget.

Things to Remember When Investing in Technologies

The increasing number of users with Internet access gives rise to many names in the Internet industry. While social media giant Facebook and search engine giant Google changed the game, communication and data technology became very important investments. 

The technology industry is very important today because it already touches many aspects of different industries. Computer and Internet technology is important especially for data storage, easier access, security and productivity. Communications technology and the Internet will continue to be developed

The crucial thing to remember when investing in technologies is that competition is always present and it is important to take note of who could possibly outdo the other. Inspect both ideas and study them. Anticipate what industries and customers will look for in a company in the future.

Technology has different tiers such as hardware, software and network. Hardware is important to run software and for 2014, investing in hardware manufacturing is a good but expensive risk because people are looking for manufacturers to develop faster technology at a cheaper price.

For software products, patents and piracy are plaguing the profits of many developers. Many customers are also turning towards open-source software; software developed by user communities.

Network development and the Internet itself is a great investment for 2014. Cloud technologies that enable data syncing for any mobile device, including a vehicle, will drive many businesses and customers to look forward to higher-end products.

 

How the US Military Strike on Syria Will Affect the United States Economy

Aside from being fed up with the worst depictions in human history, the US led military strike on Syria could negatively affect the US economy and will directly affect the budgets of many US families.

Even if US President Barack Obama said that the attack isonly limited and that the US is not going on a head-on war with Syria, the costs will still reach billions of US dollars for the strike. Regardless of the final decision of the United States and the United Nations, the US will get need billions of dollars for an attack.

The Department of Defense also has lacking funds because of the military cuts in the US budget. The bad side is that the attack does not implicate any specific amount of money needed to ensure its operation.

A good breakdown to consider will be that it costs $1.5 million to launch a RTN cruise missile and if the military strike ensues, there would be a hundred of these missiles landing on Syria.

Millions of dollars in weaponry could mean a radical shift in the US budget for economic reforms, projects, stimulus and other endeavours. These are only missiles; carrier strike groups would have taxpayer money pay $40 million weekly with each carrier having $7 million for weekly use.

Clearly, this will directly affect the budget and the economy of the United States right after the attack happens on Syria.

Tips on Increasing the Value of Rare Commodities

Rare commodities might be conventional minerals such as gold or oil or clothing or memorabilia of famous people, events or locations, and you could invest in them by just purchasing these commodities in small quantities. If you don’t want to invest quite highly in the stock market and you want to just keep a few of these commodities for your personal collection and use, you could increase their value by doing the following.

1.    “Mint” Condition

If you bought a rare figurine that could highly likely increase in value in a few years, never take out the figurine from its box case. By keeping the box case kept in another container, you could increase the value of the entire product as being “untouched” or in “mint condition”.  These applies for all commodities as well.

2.    Research

At least research about the value of your commodities once or twice monthly. Through research, you could predict the right time to sell your commodities. It could be easier to know when to sell with conventional commodities, but for specialized or niche products, you might need some knowledge about your commodity’s value.

3.    Have it Appraised

A violin made by Stradivarius will probably amount to millions of pounds today since he is a legendary instrument maker during the 16^th century. If your violin or any other commodity was made or owned by certain famous characters, having it appraised increases its value.

PPI Claims Management Companies Are Not The Problem – CSC

The Claims Standards Council, who represents some UK claims management firms, said that firms are not to blame for the increasing number of fraudulent PPI claims cases. The Claims Standards Council has a streamlined process of investigating claims and ensuring that all claims management companies do not place too much pressure on banks when addressing claims.

This came as a response against banks who continue to blame claims management companies for sending fraudulent mis sold PPI complaints that continually clog the PPI claim process.

The CSC does not deny that CMCs take in PPI claims that merit some ambiguity and send them to banks. However, they said that these PPI claims are sent to banks because the client had truly forgotten if they have a mis sold PPI on their loan, mortgage or credit card.

The British Bankers Association said that customers do not need legal representatives to know if they were mis sold PPI or not. Through a simple phone call, they can ask if their loan, mortgage or credit card has an attached loan protection, accident, sickness or unemployment insurance (ASU) or any other kind of PPI. They do not need to have their PPI claims sent in.

Over 86% of bank-rejected claims in the Financial Ombudsman was ruled in favour of customers. However, according to the CSC, some claims rejected by the bank were valid PPI claims under the ruling of the FOS.

The CSC makes their stand that claims management companies are not to blame for the slowdown of the PPI claims process because the banks themselves are still dragging their feet to address the situation.

Separating Business From Your Personal Money

As a business proprietor, during my first few months of doing business, I used to spend the money of the business itself for my personal needs. Over time, I learned that that was a mistake for the following reasons.

1.     You Slow Down Business Growth

First of all, the money intended for the business was for the purchase of new equipment, the development of infrastructures, payrolls and investing in other businesses. Taking money from the business for personal use can slow down the business’ growth.

2.     Corruption

With you having no systematic way of getting money from your business or not even distinguishing different funds for different uses, your business is founded on confusion and corruption. When it does grow in a few years, it will be plagued by these two problems rooted ever since the business began.

3.     Bankruptcy

Eventually, with too much usage of business funds for personal use instead of business growth and expansion, you risk the business growing closer to declaring bankruptcy. Remember, businesses thrive on expanding profits and recovering capital. It doesn’t mean that once you regain your capital, you can use all the profits you get.

4.     Unworkable Business Reputation

I’ve experienced this during the first year of my business when it became expansive (but still a bit slow because I was taking business money for personal use). Most businesses that would like to partner up with you may withdraw their offers because you have an unworkable business reputation. An unsystematic and non-clockwork repertoire is not attractive to investors or possible business relationships.

How I Saved Up on Buying a New Laptop

With today’s economy, every man and woman must know how to cut their losses and maximize their gains or what they have. However, I maximized my laptop that it broke down last week. So much for maximizing, but still, everything wears and tears. So, with just enough money for a secondhand laptop but not so much a new one, I came up with a few ways how to get a new laptop, even the brand new ones, without having so much in expenses.

1.     Research

It is always important for me to know if the item I’m buying is worth the price. Sometimes, brands overprice items because it has a “big name”, making them some sort of status symbols. I’m referring to Apple computers here; while they’re efficient, they’re a bit pricey that PC’s could actually outdo them. In all cases, research and look for user reviews.

2.     Analyzing Reviews

As I always look at it, reviews are subjective especially when only a computer user, not an expert, makes a review out of it. When looking at user or common reviews, take note of their location, their possible occupation, their usage of the computer or laptop unit, the length of time they owned the unit. All these details could say everything about overheating and malfunction, and other future troubles you might face with the unit.

3.     Finding Secondhand Bins

One thing the Internet gave us is an endless supply of information and opportunities. With buy and sell websites such as eBay or forums, you could find some units to your liking. However, always look for seconhand units owned only for at least 1 month to a year. Anything more and quality can’t be guaranteed.

4.     Haggling

Before you decide on a purchase, find other products similar to the specifications of the laptop you’re buying. Once you gain enough information, you could haggle with the laptop owner about the price of the laptop. If they do not agree with you even if you point out its market value with its “batchmates”, then move on to the other laptop owners. The first one to agree to lower their price is a considerable deal already, but you could always push a little further, like I do.

Tips On Rebuilding Your Credit Score

Credit reports impact your credit score, and the reports contain the financial activities you’ve done for the last quarter or year. Your score will affect your ability to gain credit and approval for loans, mortgages or credit cards with low interest fees. You’ll be paying higher bills or get rejected if you have a poor score that instantly puts you in the high-risk category. Here are a few ways to rebuild your credit scores. 

1.     Use Your Credit Card

If your debts are not too heavy on your credit cards, resign all but one of your credit cards. Ensure all resigned credit cards have no debt. Now, this single credit card’s purpose is to help increase your credit score. Use it to purchase small-priced items or items that your actual money could afford to pay on time and in full. A good performance in paying your credit bills on time can boost your credit score.

2.     Develop Good History

A good financial history is reflected by the length of time your credit is in good standing with another creditor. With a low-balance credit card fully paid on time and in full every month, your good history develops over time. By a year, you could upgrade your credit status to a good standing that could get you an average-interest loan from a high-risk, high-interest one.

3.     Separate Supplementary Accounts

If you’ve recently had a divorce or if you have shared properties with a business or company you owe, separate these supplementary accounts legally. Supplementary accounts allow other people or establishments to use your line of credit, which can affect your score when things get sour.

4.     Correct Inaccuracies

If you could correct any erroneous or outdated information listed in your credit reports, a good credit score boost may just be in the corner. Initiate a dispute  whenever necessary and don’t be afraid to use this legal right.

5.     Avoid Bankrputcy

When you’re deep in debt, avoid filing for bankruptcy if you still have a capacity to earn money. Bankruptcy is for people who are retired, disabled and unable to get income because of their incapacities. Even if 80% of your income goes to your debt, to protect your credit score, avoid bankruptcy filing.

How My Landlord Took Me to Court (Or What I Learned About Financial Disputes)

There are times that we’ll learn things the hard way, or life’s way, in general and this story is a summary of my learnings with my recent dispute with my landlord. You see, I knew I paid for my rent this last February yet my landlord continued to insist I haven’t paid anything yet. The trouble was, we never issued receipts to each other simply because it was an informal arrangement. But it was actually brewing more trouble than I first thought.

With the receipt gone, we continued to dispute if I had paid for this month’s rent. Eventually, my landlord grew tired of disputing with me on a daily basis and finally, I received a letter that sent me to meet him and his legal representative. The legal representative cleared to both of us that it was a sticky situation simply because he never issued a receipt and I never asked for a receipt. Without proper documents, we had trouble. However, the landlord was pushy and, even against the advice of his legal rep, called to have me on court.

The court investigated the entire scenario and the tricky situation described by my landlord’s legal representative was actually sticky because the landlord was discovered not to have paid his stamp duty and his rental property taxes. He was overdue by 12 months. Eventually, I was held not responsible for the entire case and my landlord faced a great fine and interest rate to pay for the taxes.

As I moved out this March and landed here in Birmingham a month ago, I realized that I always have to ask for receipts. My former landlord was a very friendly man and we became chummy with each other to the point that receipts and forms were never needed. But sometimes, you just need something concrete for times when you need legal support.

The Common Mistakes Couples Make With Their Finances

It is inevitable that couples tend to fight about money. It is one of the most common things married couples fight about. And it's found out that it's one of the reasons why some marriages lead to divorce. It may seem like talking would do the trick but in reality, it transcends that. There are a few ways to avoid these financial mistakes. All you have to do is learn from the common ones that couples make with their finances.

1. Separating your finances
Once you're married, the adage, "What's yours is yours and what's mine is mine," would no longer be applicable. Maybe at the beginning of a marriage, it's okay to have separate accounts. However, in the long run, when married couples have children, it can be quite difficult to separate expenses and maintain financial equality. What couples must really do, though, is to start managing their money as a couple from the start of their marriage. This would avoid further problems later on.

2. Ignoring debt management
The best way to resolve a debt is to combat it together - like a joint debt. If you have a hands-off approach to your spouse's debt, then that would further plunge you into trouble and would lead to more arguments.

3. Keeping financial secrets
Spending money behind your partner's back is a huge no-no. It would just cause them to have feelings of resentment and mistrust. You have to be open to your partner about financial matters.

4. Not having a budget
As individuals, we have to create our own monthly budget in order for us to keep track of our spending, too. This is just the same with married couples. This gives them a clearer view of their financial status. It gives them an avenue to discuss future investments.

5. Not talking and considering financial investments
Married couples must have a long-term investment plan in mind. This could prove beneficial to them in the long run. This could assist them with their children's education and ease in with other expenses such as mortgage. This should enable the couple to obtain joint financial success.