The Sad Reality That £1000 Gets You A Strange But Satisfying Dwelling.

Hackney's council members found themselves appalled when they saw a shed converted into a flat goes for £1000 monthly for rent. While many in the UK would get this (I really believe a family or a young professional would), the unique studio-type dwelling is probably no place like home. The council is still looking whether the shed meets planning laws.

So let's define shed. Doing a quick search on Google, you come up with images of a place where tools are placed. These can be big or small depending on how big your farm or garden or lawn is. To be honest, it's an outbuilding or a shack.

What I'm trying to say is it isn't designed to be a dwelling, or to be let.

The flat costs about £1083 monthly including bills for electricity, gas and water. What's more, real estate agents are in on the thing. They're selling it as something like "a unique large ground floor fully self-contained studio flat in standalone unit".

That's mighty lengthy. But then again, when I took a look at the photos inside the shed, it has a small eat-in kitchen, some space to fit the sofa, a good size for a bed and a fully tiled bathroom. Overall, it isn't so bad, to be honest. For the price. It's also in a gated complex, as seen in the pictures from The Guardian.

Well, would you bite this one? Maybe I would. It isn't so bad. But it doesn't look at all nice. I can live in it, so I wouldn't really mind at all.

The Real Financial Crisis Is In China

As the Eurozone talks and negotiations partly resume between Greece and the European Union, China's economy fails to ignite after its months-long slump. According to analysts, China is heading for a 1929 stock market crash. The worst part, they say, is that investors glue their sights on Greece and not in an area that could serve as a global sinkhole.

According to analysts, before the Greek crisis, every summer, a 30% fall in the Chinese stock market becomes big news for all investors. This includes government actions to stem investor panic. But with the Greek crisis taking the limelight, China's economy may fall, along with its banks.

China is showing symptoms of the 1929 Great Depression where the United States was enjoying a decade of frantic growth, extraordinary wealth and excess. To blame was extremely rapid credit growth, according to analysts. China's credit boom even surpasses the capability the "roaring 20s" had.

However, China's own roaring decade only lasts a year.

The Shanghai composite had lowered by nearly 30% upon opening on Wednesday. Many companies have suspended their stocks from trading to contain the situation. Analysts also see that investors are not willing to gamble with the Chinese government's capability to manage assets effectively.

China's ineffective method of creating one bubble after another will not prosper for its stock market, according to analysts.

Financial Words Parents Need To Teach Their Children

This list, taken from a Forbes article written by Jennifer Ryan Woods, children are particularly very interested in personal financial management. However, parents do not want their children thinking about such “adult” things at a very young time.

But teaching finances is very important. Ryan stresses in her article the facts that support these ideas. But taken from her context, it is important to learn the following terms:

1. Savings

2. Budget

3. Loan

4. Debt

5. Interest

6. Credit Card

7. Taxes

8. Investment

9. Stock

10. 401(k)

11. Credit Score

All these terms should be taught before children turn into 16. Each, according to Ryan’s article, could be taught at certain points in a child’s life. Savings could be understood by four-year-olds. Budgeting is something understood by five and six-year-olds.

The list goes on, and once your child understands the basic concepts of the following, he or she is on his way to financial success!

Ahead of Eurozone Talks, Tensions Increase

As Europe’s finance ministers proceed to address Greece’s bailout deal, tension develops as Greece continues to lock itself in negotiations with the countries, including the IMF.

Germany’s impatience with Greece’s conduct has continued after the country voted for Syriza to change the country’s fate.

Greece and Germany’s Financial Minister had failed to develp trust with each other, bringing the deal with one of Greece’s bailout sponsors to a close. 

Greek and European attitudes continue to solidify with Germany stressing that a Greek exit from the euro would be easier to manage compared to three years ago. Germany itself is running out of money and may default.

Greece is currently using its central and local government funds to meet its international loan repayments. But it still has the possibility to default.

However, a survey indicate that Greeks still wanted to stay in the Eurozone and were willing to use a compromise instead. However, only half of the country is willing to cut their salaries and pensions to keep the Euro.

The Three Biggest Myths of Personal Finance [Video]

Kiplinger Personal Finance Expert David Muhlbum says that myths spread through the internet on social media. He urges all to be sceptical of what they hear in the internet.

While this video is the US context, he says that social security in all countries won’t be gone soon, home ownership isn’t the fast way to successful retirement and any person can make and need a will.

The Breakdown of An Average Student Budget [Infographic]

Planning your next student budget isn't really rocket science. However, it's not quite an easy task too. It's important to consider your room and board, tuition fees, transportation and if you'll need to do some part-time work.

Despite these figures being in the United States, what matters is that it also tackles the same issue of educational budgeting in the United Kingdom.

Currency Manipulation the Biggest Issue in G20 Meeting

A US official attending the G20 Summit of Finance Chiefs in Istanbul warned that some countries are manipulating their currencies to gain a competitive edge. 

According to the US official, they have seen signs that there is currency manipulation happening. He said it was not an abstract possibility but a “real element of the current reality.”

A group of US Lawmakers are expected to unveil legislation on Tuesday aimed to halt the exchange rate manipulation against their trading partners. The legislation will treat currency undervaluation as foreign government subsidies. It would also allow US companies to seek compensatory duties for imported goods.

Senators are urging legislation to crack down currency manipulation completely. They are citing a Peterson Institute study that argues US workers are the ones to pay the price for currency interventions by foreign governments

Meanwhile, US automakers, the United Auto Workers and the AFL-CIO made the issue a top priority. They are expected to lobby against the Obama administration to include currency provisions and they hope to influence legislation to negotiate a free trade deal to get a vote from congress.

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