Understanding How Your FICO® Credit Score is Calculated

Understanding How Your FICO® Credit Score is Calculated

Your FICO® Credit Score Can Change Frequently According to FICO, 83% of the population experiences changes to their FICO® Credit Score by up to 20 points month to month. Each time we provide your FICO® Credit Score, it’s based on the information in your TransUnion credit report at that snapshot in time. As the information in your credit report changes, your FICO® Credit Score may also change and we provide it monthly so you can track it over time. How Your FICO® Credit Score calculated? Your FICO® Credit Score considers five categories of credit data from your TransUnion credit report that may vary in importance for different credit profiles. The percentages below are based on the five categories for the general population. FacebookTwitterLinkedInPinterestTumblrGoogleMorePocketRedditPrintEmailLike this:Like...
Investment Advice from Vanguard

Investment Advice from Vanguard

Four timeless principles to help you reach your investment objectives Successful investment management companies base their business on a core investment philosophy, and Vanguard is no different. Although we offer many specific strategies through both internally and externally managed funds, an overarching theme runs through the investment guidance we provide to clients—focus on those things within your control. These principles have been intrinsic to our company since its inception, and they are embedded in its culture. For Vanguard, they represent both the past and the future—enduring principles that guide the investment decisions we help our clients make. [More…]     Develop a suitable asset allocation using broadly diversified funds A sound investment strategy starts with an asset allocation suitable for the portfolio’s objective. The allocation should be built upon reasonable expectations for risk and returns, and should use diversified investments to avoid exposure to unnecessary risks. Both asset allocation and diversification are rooted in the idea of balance. Because all investments involve risk, investors must manage the balance between risk and potential reward through the choice of portfolio holdings. [More…] Click here for a PDF report from Vanguard on investing. FacebookTwitterLinkedInPinterestTumblrGoogleMorePocketRedditPrintEmailLike this:Like...
Why you should support the Walgreens off-shore Switzerland relocation…

Why you should support the Walgreens off-shore Switzerland relocation…

There’s been a lot of attention recently paid to Walgreens as a result of their current plan to consider shifting their company headquarters to Switzerland. The move would result in hundreds of millions of dollars a year that will no longer flow into the U.S. Treasury. Presumably some jobs will be shifted overseas. Here’s why you should support this move… Switzerland ranks third in the world for having a positive impact on global societies and the planet. In fact, if you look at the Good Country Index, you’ll see a veritable Who’s Who of countries who are exceptional global citizens. I would suggest that any company moving their main offices to any of the top-ten countries in the world should be exempt from the typical boycotts and criticism that companies usually receive from the public. Canada is ranked 12th, so we might as well include them as well. We’re all one, and we need to begin looking at the global net impact of what we are doing. We need to show some gratitude for the countries that are making the world a better place. Call it a global surcharge or tax — like paying for green energy credits. Our money shifted to these countries will return to us in the form of a better world. FacebookTwitterLinkedInPinterestTumblrGoogleMorePocketRedditPrintEmailLike this:Like...
Why Some Countries Have Higher Interest Rates

Why Some Countries Have Higher Interest Rates

Countries With High Interest Rates As the chart below indicates, some countries have very high bank interest rates. While money invested in a Canadian bank may only earn 1% interest, that same money could earn 12% interest in Nigeria. So, why don’t people invest all their money in foreign banks? This article briefly explains the answer to that question. Country Interest Rate VENEZUELA 15.7 IRAN 15.0 ARGENTINA 14.7 NIGERIA 12.0 BRAZIL 10.8 PAKISTAN 10.0 TURKEY 10.0 EGYPT 8.3 INDIA 8.0 INDONESIA 7.5 RUSSIA 7.0 CHINA 6.0 IRAQ 6.0 SOUTH AFRICA 5.5 CHILE 4.0 MEXICO 3.5 PHILIPPINES 3.5 COLOMBIA 3.3 MALAYSIA 3.0 AUSTRALIA 2.5 POLAND 2.5 SOUTH KOREA 2.5 (Source: TradingEconomics.com) Understanding Interest Rates It’s important to understand banking interest rates. This excerpt from Wikipedia provides a helpful explanation. The nominal interest rate is the amount, in percentage terms, of interest payable. For example, suppose a household deposits $100 with a bank for 1 year and they receive interest of $10. At the end of the year their balance is $110. In this case, the nominal interest rate is 10% per annum. The real interest rate, which measures the purchasing power of interest receipts, is calculated by adjusting the nominal rate charged to take inflation into account. (See real vs. nominal in economics.) If inflation in the economy has been 10% in the year, then the $110 in the account at the end of the year buys the same amount as the $100 did a year ago. The real interest rate, in this case, is zero. This is why it’s usually best to invest in local banks. FacebookTwitterLinkedInPinterestTumblrGoogleMorePocketRedditPrintEmailLike this:Like...

Tax advice for the tech sector

When one of the US’s Founding Fathers, Benjamin Franklin, stated: “In this world nothing can be said to be certain, except death and taxes”, he was coining a truism that has echoed throughout the centuries and will probably remain constant until the end of society as we know it. The vast majority of those in business, either as employees or self-employed, have little detailed understanding of how the tax system operates. The complex rules that apply to every area of working life are difficult enough for experienced financial experts to deal with, so for the mere mortal there are hazards that are hard to circumnavigate. As there are usually changes to the rules and regulations of the tax system every year, the complexity simply increases. So, what should those working in the tech sector do? Getting advice The tax authorities have been tightening up the regulations over the last few years to prevent workers from claiming they are self-employed when in fact they are effectively working for one employer and could have become an employee. The tech sector has many small businesses and self-employed workers that are often given short-term contracts to work on projects. A problem may arise if one short-term project is immediately followed by another with the same company. The tax authorities are liable to deem this as effectively fulltime employment and calculate what tax and National Insurance should have been paid under an employee contract. This is likely to be more than tax and NIC paid as a self-employed tech sector worker. The key thing is to get professional advice in the first instance. Anyone...
One Coin for All of Your Cards – Universal Digital Card Device

One Coin for All of Your Cards – Universal Digital Card Device

Coin is a credit-card size device similar to the Proteân Echo that retains multiple cards in its memory. As of November 2013, it’s currently in the crowd-source funding phase, but is reported for availability in 2014. There are many card storage apps for the iPhone and other mobile devices. These will keep track of your card numbers and details. At many retail stores, the clerk will enter your number by hand (if you have it stored with these apps for easy retrieval), or bring it up by your phone number. However, credit cards and some rewards cards need to be scanned. That’s where this device will be useful. Apparently it can mimic your cards through a dynamic magnetic strip. It’s programmed by scanning existing cards in the same way some smart Universal Remotes can learn from the original. After the Coin smart card is programmed, it can be swiped in a reader. Security Risk A potential security risk of this and other devices is that it may allow people to capture physical credit card data and then reuse it without the owner knowing their card has been stolen (since they will still have the original card in their possession. This could happen any time the card is out of someone’s possession for even a moment (at a drive through or restaurant for example). Most credit cards have a number of ways for merchants to know it’s the original card and you are the original owner (photo, signature, and computer chip). Video Watch the video below for more details. Further Reading “Could This One Card Replace All Your Other Credit Cards?,”...
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